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AOT_CPT_SAWI

AOT_CPT_SAWI

Keep going & keep the faith

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2021-08-01

Sept Oct are dangerous months

Investors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</blockquote>

2021-08-01

Another catie woods

You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>

2021-07-31

Crash coming, no more rocket power?

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2021-07-31

Is this a good bet?

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2021-07-31

?

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2021-07-30

Yes!

Big Oil Shows Confidence The Era of Large Profits Is Back<blockquote>大石油公司表现出信心，大利润时代又回来了</blockquote>

2021-07-30

Retail lambs to be slaughtered

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2021-07-28

All in

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2021-07-28

This is gold

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2021-07-27

Another crackdown day…..

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2021-07-27

Strong or weak close?

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2021-07-26

Crackdown hard

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2021-07-26

Why drop when US is up?

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2021-07-22

Alrite….. all the way

Why Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</blockquote>

2021-07-22

Impressive

5 Companies Went Public Today. Here’s How They Did.<blockquote>今天有5家公司上市。他们是这样做的。</blockquote>

2021-07-22

Crazy

WTI Shrugs Off Unexpectedly Large Crude Inventory Build<blockquote>WTI 对意外的大量原油库存不屑一顾</blockquote>

2021-07-22

Yey

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2021-07-22

Hmmm

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2021-07-22

Competitor

Nio Exec Jumps Ship To Join GM's New Electric Delivery Van Unit<blockquote>蔚来高管跳槽加入通用汽车新电动送货车部门</blockquote>

2021-07-22

Crazy money

Airline stocks, Cruise Stocks rally continues in morning trading<blockquote>航空股、邮轮股早盘继续上涨</blockquote>

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Oct are dangerous months","listText":"Sept Oct are dangerous months","text":"Sept Oct are dangerous months","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802487896","repostId":"1142925544","repostType":4,"repost":{"id":"1142925544","kind":"news","pubTimestamp":1627787240,"share":"https://www.laohunote.com/m/news/1142925544?lang=zh_CN&edition=full","pubTime":"2021-08-01 11:07","market":"us","language":"en","title":"Investors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142925544","media":"Barron's","summary":"“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970","content":"<p>“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970s, recalling pleasant times at the beach or by the barbecue. No need to remind anyone back then of droughts, wildfires, or Covid-19 surges that are unfortunate features of the steamy season this year.</p><p><blockquote>“是的，现在是夏天，我一年中的季节”，乐队高唱着 20 世纪 70 年代的金色老歌《夏天》，回忆起在海滩或烧烤旁的美好时光。当时没有必要提醒任何人干旱、野火或新冠肺炎激增，这些都是今年潮湿季节的不幸特征。</blockquote></p><p> But the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that theS&amp;P 500index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red.</p><p><blockquote>但根据美国银行分析师斯蒂芬·萨特迈尔 (Stephen Suttmeier) 编制的 1928 年数据，8 月的到来也意味着股市进入了历史上一年中最危险的时期。他发现，标准普尔 500 指数在 8 月、9 月和 10 月的平均回报率为 0.03%，这是该大型股基准指数一年中最糟糕的三个月。事实上，它们是唯一平均亏损的三个月时期。</blockquote></p><p> August actually is bracketed by the best and worst months of the year, he adds in a research note. July averages a 1.58% return on the S&amp;P 500, with positive results 59.1% of the time, while September averages a negative 1.03%, ending in the plus column less than half of the time, or 45%.</p><p><blockquote>他在一份研究报告中补充道，八月实际上是一年中最好和最差的月份。7 月份标普500的平均回报率为 1.58%，其中 59.1% 的时间为正面结果，而 9 月份的平均回报率为负 1.03%，不到一半的时间（即 45%）以正面结果结束。</blockquote></p><p> This July did even better than the norm, with the S&amp;P 500 gaining 2.27%. It also was the sixth consecutive up month for the index—the longest positive streak since September 2018, according to Dow Jones’ statistical mavens. During that period, its cumulative advance was 18.34%.</p><p><blockquote>今年7月的表现甚至好于正常水平，标普500上涨了2.27%。据道琼斯统计专家称，这也是该指数连续第六个月上涨，是自 2018 年 9 月以来最长的连涨。在此期间，其累计上涨18.34%。</blockquote></p><p> August’s record is in between, with an average 0.70% S&amp;P 500 return and positive results 58.1% of the time, marking a transition from the “summer rip” to the “fall dip.”</p><p><blockquote>8 月份的记录介于两者之间，平均标普500回报率为 0.70%，阳性结果率为 58.1%，标志着从 “夏季撕裂 ”到 “秋季下跌 ”的过渡。</blockquote></p><p> Not surprisingly, the laggard returns of the August-October period are accompanied by an uptick in volatility, Suttmeier finds. Based on records going back to 1992, theCboe Volatility Index,or VIX, has often seen spikes during those months, following relatively subdued volatility in the April-July period.</p><p><blockquote>Suttmeier 发现，毫不奇怪，8 月至 10 月期间的滞后回报伴随着波动性的上升。根据 1992 年的记录，继 4 月至 7 月期间波动性相对较低之后，ECBOE 波动率指数 (VIX) 在那几个月经常出现飙升。</blockquote></p><p> Past isn’t necessarily prologue, but if it is, the timing of the initial public offering byRobinhood Markets(ticker: HOOD) might prove propitious, if the stock market does have its typical seasonal rough patch. The online broker, whose putative mission is to open investing to novices supposedly ignored by established outfits, sold 55 million shares at $38 on Thursday. In the process, it provided a valuable lesson to all those who got in on the IPO: Buy low and sell high.</p><p><blockquote>过去不一定是序幕，但如果是序幕，那么如果股市确实经历了典型的季节性动荡时期，Robinhood Markets（股票代码：HOOD）首次公开募股的时机可能会被证明是有利的。这家在线经纪商的假定使命是向被老牌机构忽视的新手开放投资，周四以 38 美元的价格出售了 5500 万股股票。在这个过程中，它给所有进入IPO的人提供了宝贵的一课：低买高卖。</blockquote></p><p> The company evidently fulfilled the latter imperative, selling its shares high, even though they were priced at the low end of the expected $38-$42 range. Their price sank 8.4% on their first day of trading, although they recouped a bit on Friday. By week’s end, buyers of Robinhood’s IPO who held were down 7.5%.</p><p><blockquote>该公司显然满足了后一个要求，高价出售其股票，尽管它们的定价处于预期的 38-42 美元范围的低端。他们的价格在第一天交易中下跌了8.4%，尽管他们在周五有所回升。截至周末，持有 Robinhood IPO 的买家下跌了 7.5%。</blockquote></p><p> Among those who sold high were the company’s co-founders, CEO Vladimir Tenev and Chief Creative Officer Baiju Bhatt, who each offloaded 1.25 million shares in the IPO. As my illustrious predecessor, Alan Abelson, liked to observe, there are many good reasons to sell a stock, but expecting it to go up isn’t one of them. That has never been more true, given the ability of rich owners to monetize their assets by borrowing against them cheaply, and without incurring capital-gains taxes.</p><p><blockquote>公司联合创始人、首席执行官弗拉基米尔-特涅夫（Vladimir Tenev）和首席创意官拜朱-巴特（Baiju Bhatt）都在高价抛售，他们在首次公开募股中分别抛售了 125 万股股票。正如我杰出的前任艾伦-阿贝尔森（Alan Abelson）喜欢指出的那样，卖出股票有很多很好的理由，但预期股价上涨并不是其中之一。鉴于富裕的所有者有能力通过廉价借款来将其资产货币化，而且无需缴纳资本利得税，这一点从未如此真实。</blockquote></p><p> To be sure, Tenev and Bhatt still have significant stakes in Robinhood. Asour colleague Avi Salzman reported, these were worth $2.5 billion at the initial offering price, and Tenev and Bhatt retain voting control. The two also could receive awards of shares worth as much as $6.7 billion for Tenev and $4 billion for Bhatt, if the stock hits $300, or nearly the proverbial ten-bagger from here.</p><p><blockquote>可以肯定的是，Tenev 和 Bhatt 仍然持有 Robinhood 的重大股份。Asour 的同事 Avi Salzman 报道称，这些股票按首次发行价计算价值 25 亿美元，Tenev 和 Bhatt 保留投票控制权。如果股价达到 300 美元，两人还可以获得 Tenev 价值高达 67 亿美元的股票奖励，Bhatt 价值高达 40 亿美元的股票奖励，或者接近众所周知的十袋大亨。</blockquote></p><p> But in a blow against income inequality, the potential billionaire pair took symbolic pay cuts, to $34,248, the average annual wage of American workers. As the comedian Yakov Smirnoff likes to say, “What a country!”</p><p><blockquote>但为了打击收入不平等，这对潜在的亿万富翁夫妇象征性地减薪，美国工人的平均年薪降至 34,248 美元。正如喜剧演员雅科夫-斯米尔诺夫（Yakov Smirnoff）喜欢说的那样：“多么美好的国家啊!”</blockquote></p><p> How those workers are faring will be a subject of the monthly employment report slated for release this coming Friday.</p><p><blockquote>这些工人的情况将是定于本周五发布的月度就业报告的主题。</blockquote></p><p> Economists’ forecasts for nonfarm payrolls center around a gain of 900,000. Jefferies economists Aneta Markowska and Thomas Simons estimate that the increase could top the long-anticipated one million mark; they forecast 1.2 million.</p><p><blockquote>经济学家对非农就业人数的预测集中在增加 90 万人左右。Jefferies 经济学家 Aneta Markowska 和 Thomas Simons 估计，这一增幅可能会超过人们期待已久的 100 万大关；他们预测120万。</blockquote></p><p> Markowska and Simons think the expiration of supplemental unemployment benefits in some states will boost the labor supply, although that is a matter of significant debate. (For more on the jobs market, seethis week’s cover story.)</p><p><blockquote>Markowska和Simons认为，一些州补充失业救济金的到期将增加劳动力供应，尽管这是一个有争议的问题。(有关就业市场的更多信息，请参阅本周的封面故事）。</blockquote></p><p></p>","source":"lsy1610680873436","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>Investors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</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\">\nInvestors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-08-01 11:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970s, recalling pleasant times at the beach or by the barbecue. No need to remind anyone back then of droughts, wildfires, or Covid-19 surges that are unfortunate features of the steamy season this year.</p><p><blockquote>“是的，现在是夏天，我一年中的季节”，乐队高唱着 20 世纪 70 年代的金色老歌《夏天》，回忆起在海滩或烧烤旁的美好时光。当时没有必要提醒任何人干旱、野火或新冠肺炎激增，这些都是今年潮湿季节的不幸特征。</blockquote></p><p> But the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that theS&amp;P 500index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red.</p><p><blockquote>但根据美国银行分析师斯蒂芬·萨特迈尔 (Stephen Suttmeier) 编制的 1928 年数据，8 月的到来也意味着股市进入了历史上一年中最危险的时期。他发现，标准普尔 500 指数在 8 月、9 月和 10 月的平均回报率为 0.03%，这是该大型股基准指数一年中最糟糕的三个月。事实上，它们是唯一平均亏损的三个月时期。</blockquote></p><p> August actually is bracketed by the best and worst months of the year, he adds in a research note. July averages a 1.58% return on the S&amp;P 500, with positive results 59.1% of the time, while September averages a negative 1.03%, ending in the plus column less than half of the time, or 45%.</p><p><blockquote>他在一份研究报告中补充道，八月实际上是一年中最好和最差的月份。7 月份标普500的平均回报率为 1.58%，其中 59.1% 的时间为正面结果，而 9 月份的平均回报率为负 1.03%，不到一半的时间（即 45%）以正面结果结束。</blockquote></p><p> This July did even better than the norm, with the S&amp;P 500 gaining 2.27%. It also was the sixth consecutive up month for the index—the longest positive streak since September 2018, according to Dow Jones’ statistical mavens. During that period, its cumulative advance was 18.34%.</p><p><blockquote>今年7月的表现甚至好于正常水平，标普500上涨了2.27%。据道琼斯统计专家称，这也是该指数连续第六个月上涨，是自 2018 年 9 月以来最长的连涨。在此期间，其累计上涨18.34%。</blockquote></p><p> August’s record is in between, with an average 0.70% S&amp;P 500 return and positive results 58.1% of the time, marking a transition from the “summer rip” to the “fall dip.”</p><p><blockquote>8 月份的记录介于两者之间，平均标普500回报率为 0.70%，阳性结果率为 58.1%，标志着从 “夏季撕裂 ”到 “秋季下跌 ”的过渡。</blockquote></p><p> Not surprisingly, the laggard returns of the August-October period are accompanied by an uptick in volatility, Suttmeier finds. Based on records going back to 1992, theCboe Volatility Index,or VIX, has often seen spikes during those months, following relatively subdued volatility in the April-July period.</p><p><blockquote>Suttmeier 发现，毫不奇怪，8 月至 10 月期间的滞后回报伴随着波动性的上升。根据 1992 年的记录，继 4 月至 7 月期间波动性相对较低之后，ECBOE 波动率指数 (VIX) 在那几个月经常出现飙升。</blockquote></p><p> Past isn’t necessarily prologue, but if it is, the timing of the initial public offering byRobinhood Markets(ticker: HOOD) might prove propitious, if the stock market does have its typical seasonal rough patch. The online broker, whose putative mission is to open investing to novices supposedly ignored by established outfits, sold 55 million shares at $38 on Thursday. In the process, it provided a valuable lesson to all those who got in on the IPO: Buy low and sell high.</p><p><blockquote>过去不一定是序幕，但如果是序幕，那么如果股市确实经历了典型的季节性动荡时期，Robinhood Markets（股票代码：HOOD）首次公开募股的时机可能会被证明是有利的。这家在线经纪商的假定使命是向被老牌机构忽视的新手开放投资，周四以 38 美元的价格出售了 5500 万股股票。在这个过程中，它给所有进入IPO的人提供了宝贵的一课：低买高卖。</blockquote></p><p> The company evidently fulfilled the latter imperative, selling its shares high, even though they were priced at the low end of the expected $38-$42 range. Their price sank 8.4% on their first day of trading, although they recouped a bit on Friday. By week’s end, buyers of Robinhood’s IPO who held were down 7.5%.</p><p><blockquote>该公司显然满足了后一个要求，高价出售其股票，尽管它们的定价处于预期的 38-42 美元范围的低端。他们的价格在第一天交易中下跌了8.4%，尽管他们在周五有所回升。截至周末，持有 Robinhood IPO 的买家下跌了 7.5%。</blockquote></p><p> Among those who sold high were the company’s co-founders, CEO Vladimir Tenev and Chief Creative Officer Baiju Bhatt, who each offloaded 1.25 million shares in the IPO. As my illustrious predecessor, Alan Abelson, liked to observe, there are many good reasons to sell a stock, but expecting it to go up isn’t one of them. That has never been more true, given the ability of rich owners to monetize their assets by borrowing against them cheaply, and without incurring capital-gains taxes.</p><p><blockquote>公司联合创始人、首席执行官弗拉基米尔-特涅夫（Vladimir Tenev）和首席创意官拜朱-巴特（Baiju Bhatt）都在高价抛售，他们在首次公开募股中分别抛售了 125 万股股票。正如我杰出的前任艾伦-阿贝尔森（Alan Abelson）喜欢指出的那样，卖出股票有很多很好的理由，但预期股价上涨并不是其中之一。鉴于富裕的所有者有能力通过廉价借款来将其资产货币化，而且无需缴纳资本利得税，这一点从未如此真实。</blockquote></p><p> To be sure, Tenev and Bhatt still have significant stakes in Robinhood. Asour colleague Avi Salzman reported, these were worth $2.5 billion at the initial offering price, and Tenev and Bhatt retain voting control. The two also could receive awards of shares worth as much as $6.7 billion for Tenev and $4 billion for Bhatt, if the stock hits $300, or nearly the proverbial ten-bagger from here.</p><p><blockquote>可以肯定的是，Tenev 和 Bhatt 仍然持有 Robinhood 的重大股份。Asour 的同事 Avi Salzman 报道称，这些股票按首次发行价计算价值 25 亿美元，Tenev 和 Bhatt 保留投票控制权。如果股价达到 300 美元，两人还可以获得 Tenev 价值高达 67 亿美元的股票奖励，Bhatt 价值高达 40 亿美元的股票奖励，或者接近众所周知的十袋大亨。</blockquote></p><p> But in a blow against income inequality, the potential billionaire pair took symbolic pay cuts, to $34,248, the average annual wage of American workers. As the comedian Yakov Smirnoff likes to say, “What a country!”</p><p><blockquote>但为了打击收入不平等，这对潜在的亿万富翁夫妇象征性地减薪，美国工人的平均年薪降至 34,248 美元。正如喜剧演员雅科夫-斯米尔诺夫（Yakov Smirnoff）喜欢说的那样：“多么美好的国家啊!”</blockquote></p><p> How those workers are faring will be a subject of the monthly employment report slated for release this coming Friday.</p><p><blockquote>这些工人的情况将是定于本周五发布的月度就业报告的主题。</blockquote></p><p> Economists’ forecasts for nonfarm payrolls center around a gain of 900,000. Jefferies economists Aneta Markowska and Thomas Simons estimate that the increase could top the long-anticipated one million mark; they forecast 1.2 million.</p><p><blockquote>经济学家对非农就业人数的预测集中在增加 90 万人左右。Jefferies 经济学家 Aneta Markowska 和 Thomas Simons 估计，这一增幅可能会超过人们期待已久的 100 万大关；他们预测120万。</blockquote></p><p> Markowska and Simons think the expiration of supplemental unemployment benefits in some states will boost the labor supply, although that is a matter of significant debate. (For more on the jobs market, seethis week’s cover story.)</p><p><blockquote>Markowska和Simons认为，一些州补充失业救济金的到期将增加劳动力供应，尽管这是一个有争议的问题。(有关就业市场的更多信息，请参阅本周的封面故事）。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-news-robinhood-sp500-51627692215?mod=hp_LATEST\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.barrons.com/articles/stocks-news-robinhood-sp500-51627692215?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142925544","content_text":"“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970s, recalling pleasant times at the beach or by the barbecue. No need to remind anyone back then of droughts, wildfires, or Covid-19 surges that are unfortunate features of the steamy season this year.\nBut the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that theS&P 500index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red.\nAugust actually is bracketed by the best and worst months of the year, he adds in a research note. July averages a 1.58% return on the S&P 500, with positive results 59.1% of the time, while September averages a negative 1.03%, ending in the plus column less than half of the time, or 45%.\nThis July did even better than the norm, with the S&P 500 gaining 2.27%. It also was the sixth consecutive up month for the index—the longest positive streak since September 2018, according to Dow Jones’ statistical mavens. During that period, its cumulative advance was 18.34%.\nAugust’s record is in between, with an average 0.70% S&P 500 return and positive results 58.1% of the time, marking a transition from the “summer rip” to the “fall dip.”\nNot surprisingly, the laggard returns of the August-October period are accompanied by an uptick in volatility, Suttmeier finds. Based on records going back to 1992, theCboe Volatility Index,or VIX, has often seen spikes during those months, following relatively subdued volatility in the April-July period.\nPast isn’t necessarily prologue, but if it is, the timing of the initial public offering byRobinhood Markets(ticker: HOOD) might prove propitious, if the stock market does have its typical seasonal rough patch. The online broker, whose putative mission is to open investing to novices supposedly ignored by established outfits, sold 55 million shares at $38 on Thursday. In the process, it provided a valuable lesson to all those who got in on the IPO: Buy low and sell high.\nThe company evidently fulfilled the latter imperative, selling its shares high, even though they were priced at the low end of the expected $38-$42 range. Their price sank 8.4% on their first day of trading, although they recouped a bit on Friday. By week’s end, buyers of Robinhood’s IPO who held were down 7.5%.\nAmong those who sold high were the company’s co-founders, CEO Vladimir Tenev and Chief Creative Officer Baiju Bhatt, who each offloaded 1.25 million shares in the IPO. As my illustrious predecessor, Alan Abelson, liked to observe, there are many good reasons to sell a stock, but expecting it to go up isn’t one of them. That has never been more true, given the ability of rich owners to monetize their assets by borrowing against them cheaply, and without incurring capital-gains taxes.\nTo be sure, Tenev and Bhatt still have significant stakes in Robinhood. Asour colleague Avi Salzman reported, these were worth $2.5 billion at the initial offering price, and Tenev and Bhatt retain voting control. The two also could receive awards of shares worth as much as $6.7 billion for Tenev and $4 billion for Bhatt, if the stock hits $300, or nearly the proverbial ten-bagger from here.\nBut in a blow against income inequality, the potential billionaire pair took symbolic pay cuts, to $34,248, the average annual wage of American workers. As the comedian Yakov Smirnoff likes to say, “What a country!”\nHow those workers are faring will be a subject of the monthly employment report slated for release this coming Friday.\nEconomists’ forecasts for nonfarm payrolls center around a gain of 900,000. Jefferies economists Aneta Markowska and Thomas Simons estimate that the increase could top the long-anticipated one million mark; they forecast 1.2 million.\nMarkowska and Simons think the expiration of supplemental unemployment benefits in some states will boost the labor supply, although that is a matter of significant debate. (For more on the jobs market, seethis week’s cover story.)","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4228,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802628828,"gmtCreate":1627778069664,"gmtModify":1633756548539,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Another catie woods","listText":"Another catie woods","text":"Another catie woods","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802628828","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohunote.com/m/news/1147779023?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>","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>You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</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\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3648,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802124563,"gmtCreate":1627737599552,"gmtModify":1633756721772,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Crash coming, no more rocket&nbsp;power?","listText":"Crash coming, no more rocket&nbsp;power?","text":"Crash coming, no more rocket power?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802124563","repostId":"2155015426","repostType":4,"isVote":1,"tweetType":1,"viewCount":3691,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802167507,"gmtCreate":1627736285809,"gmtModify":1633756729688,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Is this a good&nbsp;bet?","listText":"Is this a good&nbsp;bet?","text":"Is this a good bet?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/802167507","repostId":"1162771150","repostType":4,"isVote":1,"tweetType":1,"viewCount":2907,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802197593,"gmtCreate":1627729425112,"gmtModify":1633756764891,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802197593","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":5013,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806098206,"gmtCreate":1627614846005,"gmtModify":1633757742851,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Yes!","listText":"Yes!","text":"Yes!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806098206","repostId":"1153202474","repostType":4,"repost":{"id":"1153202474","kind":"news","pubTimestamp":1627614368,"share":"https://www.laohunote.com/m/news/1153202474?lang=zh_CN&edition=full","pubTime":"2021-07-30 11:06","market":"us","language":"en","title":"Big Oil Shows Confidence The Era of Large Profits Is Back<blockquote>大石油公司表现出信心，大利润时代又回来了</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1153202474","media":"Bloomberg","summary":"(Bloomberg) -- Europe’s largest oil and gas companies showed confidence that the era of big profits ","content":"<p><div> (Bloomberg) -- Europe’s largest oil and gas companies showed confidence that the era of big profits is back by significantly boosting returns to shareholders. Royal Dutch Shell Plc surprised investors...</p><p><blockquote><div>(彭博社）--欧洲最大的石油和天然气公司通过大幅提高股东回报，显示出高额利润时代回来的信心。荷兰皇家壳牌公司令投资者大吃一惊……</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">网页连接</a></blockquote></p><p></p>","source":"lsy1612507957220","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>Big Oil Shows Confidence The Era of Large Profits Is Back<blockquote>大石油公司表现出信心，大利润时代又回来了</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\">\nBig Oil Shows Confidence The Era of Large Profits Is Back<blockquote>大石油公司表现出信心，大利润时代又回来了</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-07-30 11:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> (Bloomberg) -- Europe’s largest oil and gas companies showed confidence that the era of big profits is back by significantly boosting returns to shareholders. Royal Dutch Shell Plc surprised investors...</p><p><blockquote><div>(彭博社）--欧洲最大的石油和天然气公司通过大幅提高股东回报，显示出高额利润时代回来的信心。荷兰皇家壳牌公司令投资者大吃一惊……</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RDS.A":"荷兰皇家壳牌石油A类股"},"source_url":"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153202474","content_text":"(Bloomberg) -- Europe’s largest oil and gas companies showed confidence that the era of big profits is back by significantly boosting returns to shareholders.\nRoyal Dutch Shell Plc surprised investors on Thursday with a dividend hike of almost 40% and $2 billion of share buybacks. TotalEnergies SE didn’t manage quite that level of shock and awe, but promised to divert as much as 40% of its surplus cash to stock repurchases.\nThis marks a major turnaround for the industry, which is trying to persuade investors to stick with it despite mounting concerns about climate change. Until recently, both companies were focused on paying down debt and strengthening their balance sheets in the aftermath of the oil slump caused by the coronavirus pandemic.\nWhat’s changed is a broad rally in commodity prices, in which the surge in crude has been matched or exceeded by natural gas, metals and other bulk raw materials. It’s not just Shell and Total returning money to shareholders, almost every natural resources group from Rio Tinto Plc to Anglo American Plc is either raising dividends or buying back shares.\n“We wanted to signal to the market the confidence that we have in cash flows,” Shell Chief Executive Officer Ben van Beurden said on a conference call. In the oil market “supply is going to be constrained and demand is actually quite strong.”\nShell and TotalEnergies both reported big surges in adjusted net income and cash flow for the second quarter, taking the figures back to pre-pandemic levels. That had been largely expected by analysts, but the big improvement in shareholder returns caught them by surprise.\n”We knew Shell was set to raise distributions today, but the scale of the increase is significantly above expectations,” Redburn analyst Stuart Joyner said in a note.\nShell has some catching up to do. Last year, it cut its dividend by two-thirds during the depths of the Covid-19 lockdowns. Modest increases to the payout since then did little to boost the company’s appeal, with its market value today still more than a third below pre-pandemic levels despite a full recovery in oil prices.\nTotal Energies, which entered the Covid-19 crisis with less debt and maintained its payout throughout the downturn, has fared better with investors. The French company may buy back as much as $800 million of its shares by the end of the year, assuming oil averages $66 a barrel, and as much as $1 billion if it averages $68, Chief Executive Officer Patrick Pouyanne said on a conference call.\nThe dividend will grow only when it’s backed by a “structural increase” in cash flow stemming from additional energy production and sales, Pouyanne said.\nOther European oil majors are taking a similar approach. BP Plc and Equinor ASA have already made incremental dividend increases and announced more modest buyback plans.\nWooing investors has seldom been more important for Big Oil. The industry is under increasing pressure to turn away from fossil fuels and embrace clean energy as the world grapples with the evident dangers of a warming planet. Most of the European majors have laid out broad plans to achieve net-zero emissions by the middle of the century, but there are questions about how much it will cost and whether profits from renewable energy can match oil and gas.\nThese doubts have weighed on the industry’s valuation, which overall is still 22% below its level at the end of 2019, said Banco Santander SA analyst Jason Kenney. A period of strong profits and cash flow will make it much easier for these companies to make the transition to clean energy while keeping investors on board.\n“The climate crisis requires significant investment to truly shift to low and no carbon energy,” Kenney said. “But there is a huge wall of cash on the horizon from integrated energy companies in the second half of 2021 and certainly by 2022. And financial frames look credible and attractive at current levels.”","news_type":1,"symbols_score_info":{"RDS.A":0.9}},"isVote":1,"tweetType":1,"viewCount":2274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808796442,"gmtCreate":1627609293486,"gmtModify":1633757818253,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Retail lambs to be slaughtered","listText":"Retail lambs to be slaughtered","text":"Retail lambs to be 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in","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/801000322","repostId":"1103651114","repostType":4,"isVote":1,"tweetType":1,"viewCount":2616,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803741990,"gmtCreate":1627467736110,"gmtModify":1633764732518,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"This is gold","listText":"This is gold","text":"This is gold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803741990","repostId":"1116039351","repostType":4,"isVote":1,"tweetType":1,"viewCount":2483,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809625030,"gmtCreate":1627367519520,"gmtModify":1633765669629,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Another crackdown day…..&nbsp;","listText":"Another crackdown day…..&nbsp;","text":"Another crackdown day…..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809625030","repostId":"2154993011","repostType":4,"isVote":1,"tweetType":1,"viewCount":4437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809820450,"gmtCreate":1627359026770,"gmtModify":1633765738031,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Strong or weak close?","listText":"Strong or weak close?","text":"Strong or weak close?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809820450","repostId":"2154964378","repostType":4,"isVote":1,"tweetType":1,"viewCount":947,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800311713,"gmtCreate":1627277582832,"gmtModify":1633766576779,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Crackdown hard","listText":"Crackdown hard","text":"Crackdown hard","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/800311713","repostId":"1186008621","repostType":4,"isVote":1,"tweetType":1,"viewCount":809,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800054801,"gmtCreate":1627267692103,"gmtModify":1633766686688,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Why drop when US is up?","listText":"Why drop when US is up?","text":"Why drop when US is up?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/800054801","repostId":"1131760567","repostType":4,"isVote":1,"tweetType":1,"viewCount":866,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172149549,"gmtCreate":1626946092481,"gmtModify":1633769493764,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Alrite….. all the way","listText":"Alrite….. all the way","text":"Alrite….. all the way","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172149549","repostId":"1149385054","repostType":4,"repost":{"id":"1149385054","kind":"news","pubTimestamp":1626945470,"share":"https://www.laohunote.com/m/news/1149385054?lang=zh_CN&edition=full","pubTime":"2021-07-22 17:17","market":"us","language":"en","title":"Why Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149385054","media":"Motley Fool","summary":"After a short pullback following Nvidia's recent stock split, investors went right back to bidding u","content":"<p>  After a short pullback following Nvidia's recent stock split, investors went right back to bidding up the tech titan's shares.  <b>What happened</b></p><p><blockquote>在英伟达最近进行股票分割后短暂回调后，投资者立即重新买入这家科技巨头的股票。<b>发生了什么事</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a></b> climbed 4.3% on Wednesday, following its 4-for-1 stock split on Tuesday.</p><p><blockquote><b><a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a></b>继周二进行 4 比 1 股票分割后，周三上涨 4.3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Stock splitsdon't change the fundamental value of a business. A 4-for-1 split is in many ways like exchanging a $1 bill for four quarters. The total value is the same; it's just divided into more pieces.</p><p><blockquote>股票分割不会改变企业的基本价值。4 比 1 的拆分在很多方面就像将 1 美元的钞票兑换四个季度。总值相同；只是分成了更多的碎片。</blockquote></p><p> Nevertheless, traders do tend to get excited about stock splits, and this can positively impact a stock's price leading up to the split. After the split occurs, however, traders often take the opportunity to book short-term profits. And many investors, who are now in possession of more shares, use it as a chance to sell part of their holdings and book some long-term profits.</p><p><blockquote>尽管如此，交易者确实倾向于对股票分割感到兴奋，这可以对分割前的股票价格产生积极影响。然而，分割发生后，交易者往往会借此机会获取短期利润。许多投资者现在持有更多股票，他们以此为契机出售部分持股并获得一些长期利润。</blockquote></p><p> These short-term price dynamics appeared to impact Nvidia's stock in recent weeks. Its share price rose 25% from when it announced its stock split on May 21 until July 19. And after the split took place on July 20, Nvidia's shares fell as much as 3.5% before ending the day down about 1%.</p><p><blockquote>最近几周，这些短期价格动态似乎影响了英伟达的股票。从5月21日宣布股票分割到7月19日，其股价上涨了25%。7 月 20 日分拆后，英伟达股价下跌 3.5%，当天收盘下跌约 1%。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p> Now that the split has occurred, investors appear to be focusing on Nvidia's fundamental growth drivers once again. And in this regard, Nvidia's future appears bright. Rising demand for its chips in booming markets, such as data centers and gaming, are driving sharp increases in revenue and profits. With this likely to remain the case for the foreseeable future, Wednesday's gains could be just part of a far larger upward move for Nvidia's share price in the coming years.</p><p><blockquote>既然分拆已经发生，投资者似乎再次关注英伟达的基本增长驱动力。在这方面，英伟达的未来似乎一片光明。数据中心和游戏等蓬勃发展的市场对其芯片的需求不断增长，推动了收入和利润的急剧增长。在可预见的未来，这种情况可能会持续下去，周三的上涨可能只是英伟达股价未来几年更大上涨的一部分。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</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\">\nWhy Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-07-22 17:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  After a short pullback following Nvidia's recent stock split, investors went right back to bidding up the tech titan's shares.  <b>What happened</b></p><p><blockquote>在英伟达最近进行股票分割后短暂回调后，投资者立即重新买入这家科技巨头的股票。<b>发生了什么事</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a></b> climbed 4.3% on Wednesday, following its 4-for-1 stock split on Tuesday.</p><p><blockquote><b><a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a></b>继周二进行 4 比 1 股票分割后，周三上涨 4.3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Stock splitsdon't change the fundamental value of a business. A 4-for-1 split is in many ways like exchanging a $1 bill for four quarters. The total value is the same; it's just divided into more pieces.</p><p><blockquote>股票分割不会改变企业的基本价值。4 比 1 的拆分在很多方面就像将 1 美元的钞票兑换四个季度。总值相同；只是分成了更多的碎片。</blockquote></p><p> Nevertheless, traders do tend to get excited about stock splits, and this can positively impact a stock's price leading up to the split. After the split occurs, however, traders often take the opportunity to book short-term profits. And many investors, who are now in possession of more shares, use it as a chance to sell part of their holdings and book some long-term profits.</p><p><blockquote>尽管如此，交易者确实倾向于对股票分割感到兴奋，这可以对分割前的股票价格产生积极影响。然而，分割发生后，交易者往往会借此机会获取短期利润。许多投资者现在持有更多股票，他们以此为契机出售部分持股并获得一些长期利润。</blockquote></p><p> These short-term price dynamics appeared to impact Nvidia's stock in recent weeks. Its share price rose 25% from when it announced its stock split on May 21 until July 19. And after the split took place on July 20, Nvidia's shares fell as much as 3.5% before ending the day down about 1%.</p><p><blockquote>最近几周，这些短期价格动态似乎影响了英伟达的股票。从5月21日宣布股票分割到7月19日，其股价上涨了25%。7 月 20 日分拆后，英伟达股价下跌 3.5%，当天收盘下跌约 1%。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p> Now that the split has occurred, investors appear to be focusing on Nvidia's fundamental growth drivers once again. And in this regard, Nvidia's future appears bright. Rising demand for its chips in booming markets, such as data centers and gaming, are driving sharp increases in revenue and profits. With this likely to remain the case for the foreseeable future, Wednesday's gains could be just part of a far larger upward move for Nvidia's share price in the coming years.</p><p><blockquote>既然分拆已经发生，投资者似乎再次关注英伟达的基本增长驱动力。在这方面，英伟达的未来似乎一片光明。数据中心和游戏等蓬勃发展的市场对其芯片的需求不断增长，推动了收入和利润的急剧增长。在可预见的未来，这种情况可能会持续下去，周三的上涨可能只是英伟达股价未来几年更大上涨的一部分。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/21/why-nvidia-stock-jumped-today/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2021/07/21/why-nvidia-stock-jumped-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149385054","content_text":"After a short pullback following Nvidia's recent stock split, investors went right back to bidding up the tech titan's shares.\n\nWhat happened\nNVIDIA Corp climbed 4.3% on Wednesday, following its 4-for-1 stock split on Tuesday.\nSo what\nStock splitsdon't change the fundamental value of a business. A 4-for-1 split is in many ways like exchanging a $1 bill for four quarters. The total value is the same; it's just divided into more pieces.\nNevertheless, traders do tend to get excited about stock splits, and this can positively impact a stock's price leading up to the split. After the split occurs, however, traders often take the opportunity to book short-term profits. And many investors, who are now in possession of more shares, use it as a chance to sell part of their holdings and book some long-term profits.\nThese short-term price dynamics appeared to impact Nvidia's stock in recent weeks. Its share price rose 25% from when it announced its stock split on May 21 until July 19. And after the split took place on July 20, Nvidia's shares fell as much as 3.5% before ending the day down about 1%.\nNow what\nNow that the split has occurred, investors appear to be focusing on Nvidia's fundamental growth drivers once again. And in this regard, Nvidia's future appears bright. Rising demand for its chips in booming markets, such as data centers and gaming, are driving sharp increases in revenue and profits. With this likely to remain the case for the foreseeable future, Wednesday's gains could be just part of a far larger upward move for Nvidia's share price in the coming years.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172386088,"gmtCreate":1626936332444,"gmtModify":1633769570758,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Impressive","listText":"Impressive","text":"Impressive","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172386088","repostId":"1157933877","repostType":4,"repost":{"id":"1157933877","kind":"news","pubTimestamp":1626931481,"share":"https://www.laohunote.com/m/news/1157933877?lang=zh_CN&edition=full","pubTime":"2021-07-22 13:24","market":"us","language":"en","title":"5 Companies Went Public Today. Here’s How They Did.<blockquote>今天有5家公司上市。他们是这样做的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157933877","media":"Barrons","summary":"Five companies opened for trading on Wednesday in yet another big week for initial public offerings.","content":"<p>Five companies opened for trading on Wednesday in yet another big week for initial public offerings.</p><p><blockquote>周三，五家公司开盘交易，又是首次公开募股的重要一周。</blockquote></p><p> At least 20 companies are expected to list their shares this week, in one of the busiest time periods for the IPO market, data from Renaissance Capital shows.</p><p><blockquote>Renaissance Capital 的数据显示，预计本周将至少有 20 家公司上市，这是 IPO 市场最繁忙的时期之一。</blockquote></p><p> So far this year, 240 companies have gone public using a traditional IPO, raising $91.6 billion, according to Dealogic. That is more than double the 76 companies, valued at $28.3 billion, that listed their shares for the same time period in 2020.</p><p><blockquote>根据 Dealogic 的数据，今年到目前为止，已有 240 家公司通过传统 IPO 上市，筹集了 916 亿美元。这比 2020 年同期上市的 76 家公司（价值 283 亿美元）增加了一倍多。</blockquote></p><p> Wednesday’s group includes CS Disco, Kaltura, Paycor HCM, VTEX, and Twin Vee PowerCats. CS Disco and VTEX are trading on the New York Stock Exchange; the others are listed on the Nasdaq.</p><p><blockquote>周三的参赛队伍包括 CS Disco、Kaltura、Paycor HCM、VTEX 和 Twin Vee PowerCats。CS Disco 和 VTEX 在纽约证券交易所上市；其他的都列在纳斯达克上。</blockquote></p><p> Three of the companies—CS Disco, Paycor HCM, and VTEX—priced their deals above their expected price ranges. Such increases are typically signs of strong demand.</p><p><blockquote>其中三家公司——CS Disco、Paycor HCM 和 VTEX——的交易价格高于预期价格范围。这种增长通常是需求强劲的迹象。</blockquote></p><p> One of the stronger debuts came from CS Disco (ticker: LAW). The stock opened at $45.26 and closed at $41, up 28% from its offer price.</p><p><blockquote>其中一个更强的首次亮相来自CS迪斯科（股票代码：LAW）。该股开盘价为 45.26 美元，收盘价为 41 美元，较发行价上涨 28%。</blockquote></p><p> The Austin, Texas-company raised $224 million after selling 7 million shares at $32 each. CS Disco had filed to sell 7 million at $26 to $29, which it boosted to 7 million at $30 to $31 on Monday.</p><p><blockquote>这家总部位于德克萨斯州奥斯汀的公司以每股 32 美元的价格出售了 700 万股股票，筹集了 2.24 亿美元。CS Disco 曾申请以 26 至 29 美元的价格出售 700 万辆，周一将出售价格提高到 30 至 31 美元的 700 万辆。</blockquote></p><p> BlackRock (BLK) and Dragoneer Investment Group have indicated interest in buying $25 million worth of stock each at the IPO price, according to a prospectus for the offering.</p><p><blockquote>根据发行招股说明书，贝莱德 (BLK) 和 Dragoneer Investment Group 已表示有兴趣以 IPO 价格分别购买价值 2500 万美元的股票。</blockquote></p><p> Founded in 2013, CS Disco provides cloud software that aims to simplify ediscovery, legal document review and case management for businesses, law firms, legal services providers, and governments. The software helps centralize legal data into a single solution, while improving security and privacy for clients. As of March 31, CS Disco had 909 customers, including DISH, Southwest Airlines, WeWork, Perkins Coie, and Shearman &amp; Sterling, the prospectus said.</p><p><blockquote>CS Disco成立于2013年，提供云软件，旨在为企业、律师事务所、法律服务提供商和政府简化电子发现、法律文件审查和案件管理。该软件有助于将法律数据集中到一个解决方案中，同时提高客户的安全性和隐私性。招股书称，截至 3 月 31 日，CS Disco 拥有 909 名客户，包括 DISH、西南航空、WeWork、Perkins Coie 和 Shearman &amp; Sterling。</blockquote></p><p> VTEX (VTEX) shares kicked off at $25.10 and ended at $22.18, up nearly 17% from its offer price. The New York company sold 19 million shares at $19 each, above its $15-to-$17 price range.</p><p><blockquote>VTEX (VTEX) 股价开盘价为 25.10 美元，收盘价为 22.18 美元，较发行价上涨近 17%。这家纽约公司以每股 19 美元的价格出售了 1900 万股股票，高于 15 至 17 美元的价格区间。</blockquote></p><p> The company has raised $365 million in funding, Crunchbase said. Investors include Tiger Global, Lone Pine Capital, Constellation, Endeavour Catalyst and SoftBank. Tiger Global has indicated it is interested in buying $50 million worth of shares at the offer price, a prospectus said.</p><p><blockquote>Crunchbase表示，该公司已经筹集了3.65亿美元的资金。投资者包括Tiger Global、Lone Pine Capital、Constellation、Endeavour Catalyst和软银。招股说明书称，老虎环球已表示有兴趣以发行价购买价值 5000 万美元的股票。</blockquote></p><p> Founded in Brazil, VTEX provides a cloud-based commerce platform that helps brands and retailers execute their commerce strategy, including building their online stores, managing orders, and creating marketplaces to sell products from third-party vendors, a prospectus said. Customers include L’Oreal, Motorola, and Sony (SONY).</p><p><blockquote>招股说明书称，VTEX 成立于巴西，提供基于云的商务平台，帮助品牌和零售商执行其商业战略，包括建立在线商店、管理订单以及创建市场来销售第三方供应商的产品。客户包括欧莱雅、摩托罗拉和索尼（SONY）。</blockquote></p><p> Paycor HCM (PYCR) kicked off at $28 and ended at $26.05, up 13% from the offer price.</p><p><blockquote>Paycor HCM (PYCR) 开盘价为 28 美元，收盘价为 26.05 美元，较发行价上涨 13%。</blockquote></p><p> The human-resources software provider also priced above its expected range. Paycor ended up selling 18.5 million shares at $23, up from its $18 to $21 price range.</p><p><blockquote>这家人力资源软件提供商的定价也高于其预期范围。Paycor 最终以 23 美元的价格出售了 1,850 万股股票，高于 18 至 21 美元的价格区间。</blockquote></p><p> Paycor provides software that helps small and medium-size businesses handle their payrolls, bring employees on board, update staff information, and comply with tax requirements. Most of its customers, accounting for 81% of its billings, have from 10 to 1,000 employees. The company has more than 40,000 clients, including the Detroit Zoo, Wendy’s, and Two Men and a Truck, according to its website.</p><p><blockquote>Paycor提供的软件可以帮助中小型企业处理工资单、招聘员工、更新员工信息以及遵守税务要求。其大多数客户（占其账单的 81%）拥有 10 至 1,000 名员工。据该公司网站介绍，该公司拥有 4 万多家客户，包括底特律动物园、温迪百货公司、两个人和一辆卡车。</blockquote></p><p> Paycor employs a little over 2,000 people, including 400 sales and about 700 in customer services. It plans to use proceeds from the IPO to increase both of those, according to CEORaul Villar Jr.</p><p><blockquote>Paycor拥有2000多名员工，其中包括400名销售人员和约700名客户服务人员。首席执行官 Raul Villar Jr. 表示，该公司计划利用 IPO 的收益来增加这两者。</blockquote></p><p> One of the main reasons Paycor sought to go public was to reward its employees, Villar told Barron’s. “We’ll have an employee stock purchase plan available for every associate at Paycor to participate in our growth,” he said.</p><p><blockquote>维拉尔告诉《巴伦周刊》，Paycor 寻求上市的主要原因之一是为了奖励员工。“他说：”我们将为 Paycor 的每一位员工提供员工股票购买计划，以参与我们的发展。</blockquote></p><p> Paycor has been operating cash flow neutral for the past few years, Villar said. “We will have no debt at the end of the transaction,” he said.</p><p><blockquote>Villar 表示，Paycor 在过去几年中一直保持现金流中性。“他说：”交易结束时，我们将没有债务。</blockquote></p><p> Shares of Kaltura (KLTR), a provider of real-time and on-demand video products, opened at $11.50 and closed at $12, up 20% from its offer price.</p><p><blockquote>实时和点播视频产品提供商 Kaltura (KLTR) 的股价开盘价为 11.50 美元，收盘价为 12 美元，较发行价上涨 20%。</blockquote></p><p> The New York company raised $150 million after cutting the size of its deal by 36% to 15 million shares at $10 each. It had filed to offer 23.5 million shares at $14 to $16, which it reduced to 15 million $9 to $11 on July 12, a prospectus said.</p><p><blockquote>这家纽约公司将交易规模削减 36%，至 1500 万股，每股 10 美元，筹集了 1.5 亿美元。招股说明书称，该公司已申请以 14 至 16 美元的价格发行 2350 万股股票，并于 7 月 12 日将发行价降至 1500 万股，价格为 9 至 11 美元。</blockquote></p><p> Founded in 2006, Kaltura provides technology that powers several forms of videos including video portals, town halls, video messaging, webinars, virtual events and meetings, as well as virtual classrooms. It has over 1,000 customers including IBM (IBM), Dropbox (DBX), Bosch, Thomson Reuters (TRI) and SAP (SAP).</p><p><blockquote>Kaltura成立于2006年，提供支持多种形式视频的技术，包括视频门户、市政厅、视频消息、网络研讨会、虚拟活动和会议以及虚拟教室。它拥有 1,000 多家客户，包括 IBM (IBM)、Dropbox (DBX)、博世、汤森路透 (TRI) 和 SAP (SAP)。</blockquote></p><p> Twin Vee PowerCats (VEEE) also posted a solid first day. The stock kicked off at $6.70 and ended at $7.49, up nearly 25% from its offer price. The Fort Pierce, Florida-company raised $18 million after slightly boosting the size of its deal to 3 million shares at $6 each. It had filed to offer 2.8 million shares at $5 to $6 each.</p><p><blockquote>Twin Vee PowerCats (VEEE) 也在第一天取得了不错的成绩。该股开盘价为 6.70 美元，收盘价为 7.49 美元，较发行价上涨近 25%。这家总部位于佛罗里达州皮尔斯堡的公司筹集了 1800 万美元，此前其交易规模略微增加到 300 万股，每股 6 美元。该公司已申请以每股 5 至 6 美元的价格发行 280 万股股票。</blockquote></p><p></p><p> Launched in 1996, Twin Vee makes and markets recreational and commercial power catamaran boats. It currently has 10 gas-powered models in production that range in size from a 24-foot, dual engine, center console to its newest 40-foot offshore 400 GFX.</p><p><blockquote>Twin Vee 于 1996 年推出，生产和销售休闲和商业动力双体船。目前，该公司生产了 10 款燃气动力车型，尺寸从 24 英尺双引擎中控台到最新的 40 英尺离岸 400 GFX。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Companies Went Public Today. Here’s How They Did.<blockquote>今天有5家公司上市。他们是这样做的。</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\">\n5 Companies Went Public Today. Here’s How They Did.<blockquote>今天有5家公司上市。他们是这样做的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-22 13:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Five companies opened for trading on Wednesday in yet another big week for initial public offerings.</p><p><blockquote>周三，五家公司开盘交易，又是首次公开募股的重要一周。</blockquote></p><p> At least 20 companies are expected to list their shares this week, in one of the busiest time periods for the IPO market, data from Renaissance Capital shows.</p><p><blockquote>Renaissance Capital 的数据显示，预计本周将至少有 20 家公司上市，这是 IPO 市场最繁忙的时期之一。</blockquote></p><p> So far this year, 240 companies have gone public using a traditional IPO, raising $91.6 billion, according to Dealogic. That is more than double the 76 companies, valued at $28.3 billion, that listed their shares for the same time period in 2020.</p><p><blockquote>根据 Dealogic 的数据，今年到目前为止，已有 240 家公司通过传统 IPO 上市，筹集了 916 亿美元。这比 2020 年同期上市的 76 家公司（价值 283 亿美元）增加了一倍多。</blockquote></p><p> Wednesday’s group includes CS Disco, Kaltura, Paycor HCM, VTEX, and Twin Vee PowerCats. CS Disco and VTEX are trading on the New York Stock Exchange; the others are listed on the Nasdaq.</p><p><blockquote>周三的参赛队伍包括 CS Disco、Kaltura、Paycor HCM、VTEX 和 Twin Vee PowerCats。CS Disco 和 VTEX 在纽约证券交易所上市；其他的都列在纳斯达克上。</blockquote></p><p> Three of the companies—CS Disco, Paycor HCM, and VTEX—priced their deals above their expected price ranges. Such increases are typically signs of strong demand.</p><p><blockquote>其中三家公司——CS Disco、Paycor HCM 和 VTEX——的交易价格高于预期价格范围。这种增长通常是需求强劲的迹象。</blockquote></p><p> One of the stronger debuts came from CS Disco (ticker: LAW). The stock opened at $45.26 and closed at $41, up 28% from its offer price.</p><p><blockquote>其中一个更强的首次亮相来自CS迪斯科（股票代码：LAW）。该股开盘价为 45.26 美元，收盘价为 41 美元，较发行价上涨 28%。</blockquote></p><p> The Austin, Texas-company raised $224 million after selling 7 million shares at $32 each. CS Disco had filed to sell 7 million at $26 to $29, which it boosted to 7 million at $30 to $31 on Monday.</p><p><blockquote>这家总部位于德克萨斯州奥斯汀的公司以每股 32 美元的价格出售了 700 万股股票，筹集了 2.24 亿美元。CS Disco 曾申请以 26 至 29 美元的价格出售 700 万辆，周一将出售价格提高到 30 至 31 美元的 700 万辆。</blockquote></p><p> BlackRock (BLK) and Dragoneer Investment Group have indicated interest in buying $25 million worth of stock each at the IPO price, according to a prospectus for the offering.</p><p><blockquote>根据发行招股说明书，贝莱德 (BLK) 和 Dragoneer Investment Group 已表示有兴趣以 IPO 价格分别购买价值 2500 万美元的股票。</blockquote></p><p> Founded in 2013, CS Disco provides cloud software that aims to simplify ediscovery, legal document review and case management for businesses, law firms, legal services providers, and governments. The software helps centralize legal data into a single solution, while improving security and privacy for clients. As of March 31, CS Disco had 909 customers, including DISH, Southwest Airlines, WeWork, Perkins Coie, and Shearman &amp; Sterling, the prospectus said.</p><p><blockquote>CS Disco成立于2013年，提供云软件，旨在为企业、律师事务所、法律服务提供商和政府简化电子发现、法律文件审查和案件管理。该软件有助于将法律数据集中到一个解决方案中，同时提高客户的安全性和隐私性。招股书称，截至 3 月 31 日，CS Disco 拥有 909 名客户，包括 DISH、西南航空、WeWork、Perkins Coie 和 Shearman &amp; Sterling。</blockquote></p><p> VTEX (VTEX) shares kicked off at $25.10 and ended at $22.18, up nearly 17% from its offer price. The New York company sold 19 million shares at $19 each, above its $15-to-$17 price range.</p><p><blockquote>VTEX (VTEX) 股价开盘价为 25.10 美元，收盘价为 22.18 美元，较发行价上涨近 17%。这家纽约公司以每股 19 美元的价格出售了 1900 万股股票，高于 15 至 17 美元的价格区间。</blockquote></p><p> The company has raised $365 million in funding, Crunchbase said. Investors include Tiger Global, Lone Pine Capital, Constellation, Endeavour Catalyst and SoftBank. Tiger Global has indicated it is interested in buying $50 million worth of shares at the offer price, a prospectus said.</p><p><blockquote>Crunchbase表示，该公司已经筹集了3.65亿美元的资金。投资者包括Tiger Global、Lone Pine Capital、Constellation、Endeavour Catalyst和软银。招股说明书称，老虎环球已表示有兴趣以发行价购买价值 5000 万美元的股票。</blockquote></p><p> Founded in Brazil, VTEX provides a cloud-based commerce platform that helps brands and retailers execute their commerce strategy, including building their online stores, managing orders, and creating marketplaces to sell products from third-party vendors, a prospectus said. Customers include L’Oreal, Motorola, and Sony (SONY).</p><p><blockquote>招股说明书称，VTEX 成立于巴西，提供基于云的商务平台，帮助品牌和零售商执行其商业战略，包括建立在线商店、管理订单以及创建市场来销售第三方供应商的产品。客户包括欧莱雅、摩托罗拉和索尼（SONY）。</blockquote></p><p> Paycor HCM (PYCR) kicked off at $28 and ended at $26.05, up 13% from the offer price.</p><p><blockquote>Paycor HCM (PYCR) 开盘价为 28 美元，收盘价为 26.05 美元，较发行价上涨 13%。</blockquote></p><p> The human-resources software provider also priced above its expected range. Paycor ended up selling 18.5 million shares at $23, up from its $18 to $21 price range.</p><p><blockquote>这家人力资源软件提供商的定价也高于其预期范围。Paycor 最终以 23 美元的价格出售了 1,850 万股股票，高于 18 至 21 美元的价格区间。</blockquote></p><p> Paycor provides software that helps small and medium-size businesses handle their payrolls, bring employees on board, update staff information, and comply with tax requirements. Most of its customers, accounting for 81% of its billings, have from 10 to 1,000 employees. The company has more than 40,000 clients, including the Detroit Zoo, Wendy’s, and Two Men and a Truck, according to its website.</p><p><blockquote>Paycor提供的软件可以帮助中小型企业处理工资单、招聘员工、更新员工信息以及遵守税务要求。其大多数客户（占其账单的 81%）拥有 10 至 1,000 名员工。据该公司网站介绍，该公司拥有 4 万多家客户，包括底特律动物园、温迪百货公司、两个人和一辆卡车。</blockquote></p><p> Paycor employs a little over 2,000 people, including 400 sales and about 700 in customer services. It plans to use proceeds from the IPO to increase both of those, according to CEORaul Villar Jr.</p><p><blockquote>Paycor拥有2000多名员工，其中包括400名销售人员和约700名客户服务人员。首席执行官 Raul Villar Jr. 表示，该公司计划利用 IPO 的收益来增加这两者。</blockquote></p><p> One of the main reasons Paycor sought to go public was to reward its employees, Villar told Barron’s. “We’ll have an employee stock purchase plan available for every associate at Paycor to participate in our growth,” he said.</p><p><blockquote>维拉尔告诉《巴伦周刊》，Paycor 寻求上市的主要原因之一是为了奖励员工。“他说：”我们将为 Paycor 的每一位员工提供员工股票购买计划，以参与我们的发展。</blockquote></p><p> Paycor has been operating cash flow neutral for the past few years, Villar said. “We will have no debt at the end of the transaction,” he said.</p><p><blockquote>Villar 表示，Paycor 在过去几年中一直保持现金流中性。“他说：”交易结束时，我们将没有债务。</blockquote></p><p> Shares of Kaltura (KLTR), a provider of real-time and on-demand video products, opened at $11.50 and closed at $12, up 20% from its offer price.</p><p><blockquote>实时和点播视频产品提供商 Kaltura (KLTR) 的股价开盘价为 11.50 美元，收盘价为 12 美元，较发行价上涨 20%。</blockquote></p><p> The New York company raised $150 million after cutting the size of its deal by 36% to 15 million shares at $10 each. It had filed to offer 23.5 million shares at $14 to $16, which it reduced to 15 million $9 to $11 on July 12, a prospectus said.</p><p><blockquote>这家纽约公司将交易规模削减 36%，至 1500 万股，每股 10 美元，筹集了 1.5 亿美元。招股说明书称，该公司已申请以 14 至 16 美元的价格发行 2350 万股股票，并于 7 月 12 日将发行价降至 1500 万股，价格为 9 至 11 美元。</blockquote></p><p> Founded in 2006, Kaltura provides technology that powers several forms of videos including video portals, town halls, video messaging, webinars, virtual events and meetings, as well as virtual classrooms. It has over 1,000 customers including IBM (IBM), Dropbox (DBX), Bosch, Thomson Reuters (TRI) and SAP (SAP).</p><p><blockquote>Kaltura成立于2006年，提供支持多种形式视频的技术，包括视频门户、市政厅、视频消息、网络研讨会、虚拟活动和会议以及虚拟教室。它拥有 1,000 多家客户，包括 IBM (IBM)、Dropbox (DBX)、博世、汤森路透 (TRI) 和 SAP (SAP)。</blockquote></p><p> Twin Vee PowerCats (VEEE) also posted a solid first day. The stock kicked off at $6.70 and ended at $7.49, up nearly 25% from its offer price. The Fort Pierce, Florida-company raised $18 million after slightly boosting the size of its deal to 3 million shares at $6 each. It had filed to offer 2.8 million shares at $5 to $6 each.</p><p><blockquote>Twin Vee PowerCats (VEEE) 也在第一天取得了不错的成绩。该股开盘价为 6.70 美元，收盘价为 7.49 美元，较发行价上涨近 25%。这家总部位于佛罗里达州皮尔斯堡的公司筹集了 1800 万美元，此前其交易规模略微增加到 300 万股，每股 6 美元。该公司已申请以每股 5 至 6 美元的价格发行 280 万股股票。</blockquote></p><p></p><p> Launched in 1996, Twin Vee makes and markets recreational and commercial power catamaran boats. It currently has 10 gas-powered models in production that range in size from a 24-foot, dual engine, center console to its newest 40-foot offshore 400 GFX.</p><p><blockquote>Twin Vee 于 1996 年推出，生产和销售休闲和商业动力双体船。目前，该公司生产了 10 款燃气动力车型，尺寸从 24 英尺双引擎中控台到最新的 40 英尺离岸 400 GFX。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/ipos-today-paycor-vtex-others-51626893936?siteid=yhoof2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"KLTR":"Kaltura, Inc.","TVPC":"Twin Vee Powercats, Inc.","PYCR":"Paycor HCM, Inc.","LAW":"CS Disco, Inc.","VTEX":"VTEX"},"source_url":"https://www.barrons.com/articles/ipos-today-paycor-vtex-others-51626893936?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157933877","content_text":"Five companies opened for trading on Wednesday in yet another big week for initial public offerings.\nAt least 20 companies are expected to list their shares this week, in one of the busiest time periods for the IPO market, data from Renaissance Capital shows.\nSo far this year, 240 companies have gone public using a traditional IPO, raising $91.6 billion, according to Dealogic. That is more than double the 76 companies, valued at $28.3 billion, that listed their shares for the same time period in 2020.\nWednesday’s group includes CS Disco, Kaltura, Paycor HCM, VTEX, and Twin Vee PowerCats. CS Disco and VTEX are trading on the New York Stock Exchange; the others are listed on the Nasdaq.\nThree of the companies—CS Disco, Paycor HCM, and VTEX—priced their deals above their expected price ranges. Such increases are typically signs of strong demand.\nOne of the stronger debuts came from CS Disco (ticker: LAW). The stock opened at $45.26 and closed at $41, up 28% from its offer price.\nThe Austin, Texas-company raised $224 million after selling 7 million shares at $32 each. CS Disco had filed to sell 7 million at $26 to $29, which it boosted to 7 million at $30 to $31 on Monday.\nBlackRock (BLK) and Dragoneer Investment Group have indicated interest in buying $25 million worth of stock each at the IPO price, according to a prospectus for the offering.\nFounded in 2013, CS Disco provides cloud software that aims to simplify ediscovery, legal document review and case management for businesses, law firms, legal services providers, and governments. The software helps centralize legal data into a single solution, while improving security and privacy for clients. As of March 31, CS Disco had 909 customers, including DISH, Southwest Airlines, WeWork, Perkins Coie, and Shearman & Sterling, the prospectus said.\nVTEX (VTEX) shares kicked off at $25.10 and ended at $22.18, up nearly 17% from its offer price. The New York company sold 19 million shares at $19 each, above its $15-to-$17 price range.\nThe company has raised $365 million in funding, Crunchbase said. Investors include Tiger Global, Lone Pine Capital, Constellation, Endeavour Catalyst and SoftBank. Tiger Global has indicated it is interested in buying $50 million worth of shares at the offer price, a prospectus said.\nFounded in Brazil, VTEX provides a cloud-based commerce platform that helps brands and retailers execute their commerce strategy, including building their online stores, managing orders, and creating marketplaces to sell products from third-party vendors, a prospectus said. Customers include L’Oreal, Motorola, and Sony (SONY).\nPaycor HCM (PYCR) kicked off at $28 and ended at $26.05, up 13% from the offer price.\nThe human-resources software provider also priced above its expected range. Paycor ended up selling 18.5 million shares at $23, up from its $18 to $21 price range.\nPaycor provides software that helps small and medium-size businesses handle their payrolls, bring employees on board, update staff information, and comply with tax requirements. Most of its customers, accounting for 81% of its billings, have from 10 to 1,000 employees. The company has more than 40,000 clients, including the Detroit Zoo, Wendy’s, and Two Men and a Truck, according to its website.\nPaycor employs a little over 2,000 people, including 400 sales and about 700 in customer services. It plans to use proceeds from the IPO to increase both of those, according to CEORaul Villar Jr.\nOne of the main reasons Paycor sought to go public was to reward its employees, Villar told Barron’s. “We’ll have an employee stock purchase plan available for every associate at Paycor to participate in our growth,” he said.\nPaycor has been operating cash flow neutral for the past few years, Villar said. “We will have no debt at the end of the transaction,” he said.\nShares of Kaltura (KLTR), a provider of real-time and on-demand video products, opened at $11.50 and closed at $12, up 20% from its offer price.\nThe New York company raised $150 million after cutting the size of its deal by 36% to 15 million shares at $10 each. It had filed to offer 23.5 million shares at $14 to $16, which it reduced to 15 million $9 to $11 on July 12, a prospectus said.\nFounded in 2006, Kaltura provides technology that powers several forms of videos including video portals, town halls, video messaging, webinars, virtual events and meetings, as well as virtual classrooms. It has over 1,000 customers including IBM (IBM), Dropbox (DBX), Bosch, Thomson Reuters (TRI) and SAP (SAP).\nTwin Vee PowerCats (VEEE) also posted a solid first day. The stock kicked off at $6.70 and ended at $7.49, up nearly 25% from its offer price. The Fort Pierce, Florida-company raised $18 million after slightly boosting the size of its deal to 3 million shares at $6 each. It had filed to offer 2.8 million shares at $5 to $6 each.\nLaunched in 1996, Twin Vee makes and markets recreational and commercial power catamaran boats. It currently has 10 gas-powered models in production that range in size from a 24-foot, dual engine, center console to its newest 40-foot offshore 400 GFX.","news_type":1,"symbols_score_info":{"PYCR":0.9,"KLTR":0.9,"LAW":0.9,"VTEX":0.9,"TVPC":0.9}},"isVote":1,"tweetType":1,"viewCount":1050,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176488081,"gmtCreate":1626912181843,"gmtModify":1633769884592,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Crazy","listText":"Crazy","text":"Crazy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/176488081","repostId":"1158935021","repostType":4,"repost":{"id":"1158935021","kind":"news","pubTimestamp":1626878626,"share":"https://www.laohunote.com/m/news/1158935021?lang=zh_CN&edition=full","pubTime":"2021-07-21 22:43","market":"fut","language":"en","title":"WTI Shrugs Off Unexpectedly Large Crude Inventory Build<blockquote>WTI 对意外的大量原油库存不屑一顾</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158935021","media":"zerohedge","summary":"After the initial tumble last night - afterAPI reported an unexpected build in crude inventories (an","content":"<p>After the initial tumble last night - after<b><i>API reported an unexpected build in crude inventories (and big build in gasoline stocks)</i></b>- oil prices have surged higher overnight and across the US equity market open as all those Monday fears appear to be evaporating once again.</p><p><blockquote>在昨晚最初的翻滚之后-之后<b><i>API 报告原油库存意外增加（汽油库存大幅增加）</i></b>- 由于所有周一的担忧似乎再次消失，油价隔夜和美国股市开盘均大幅上涨。</blockquote></p><p>   <b>“Risk-on is the main driver,”</b>said&nbsp;Giovanni Staunovo, an analyst at UBS Group AG in Zurich.   <b>“I still believe oil fundamentals themselves are supportive, but the last 72 hours were primarily driven by shifts in investors’ attitude to risk.”</b>  Maybe this morning's official data will reignote some sense of fundamentals in the energy complex... however fleeting.</p><p><blockquote><b>“冒险是主要驱动力”</b>苏黎世瑞银集团分析师乔瓦尼·斯陶诺沃 (Giovanni Staunovo) 表示。<b>“我仍然认为石油基本面本身具有支持性，但过去 72 小时主要是由投资者对风险态度的转变推动的。”</b>也许今天早上的官方数据会重新唤起能源综合体的一些基本面意识……不管多么短暂。</blockquote></p><p> <u><b>API</b></u></p><p><blockquote><u><b>火焰</b></u></blockquote></p><p> <ul>  <li><b>Crude +806k (-5.4mm exp)</b></li>  <li>Cushing -3.57mm</li>  <li><b>Gasoline +3.31mm (-1.0mm exp)</b></li>  <li>Distillates</li> </ul> <u><b>DOE</b></u></p><p><blockquote><ul><li><b>原油+806k（-5.4mm exp）</b></li><li>库欣-3.57毫米</li><li><b>汽油+3.31毫米（-1.0毫米经验）</b></li><li>馏出物</li></ul><u><b>多伊</b></u></blockquote></p><p> <ul>  <li>Crude +2.11mm (-3.7mm exp)</li>  <li>Cushing -1.347mm</li>  <li>Gasoline -121k (-1.0mm exp)</li>  <li>Distillates -1.349mm</li> </ul> Analysts expected a 9th straight weekly draw in crude stocks, even after API reported an unexpected build, but were wrong when the official data showed an even bigger 2.11mm barrel increase. Gasoline stocks dropped very marginally, but not the build we saw in API data...</p><p><blockquote><ul><li>粗品+2.11mm（-3.7mm实验值）</li><li>库欣-1.347mm</li><li>汽油 -121k（-1.0mm exp）</li><li>馏出物-1.349mm</li></ul>分析师预计原油库存将连续第 9 周下降，即使在 API 报告意外增加之后，但当官方数据显示原油库存增加 2.11 毫米桶时，他们就错了。汽油库存小幅下跌，但不是我们在API数据中看到的增长……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/53692cf75a66214e7f4a1494f2c4f5c4\" tg-width=\"982\" tg-height=\"563\" referrerpolicy=\"no-referrer\"><i>Source: Bloomberg</i></p><p><blockquote><i>资料来源：彭博社</i></blockquote></p><p> Some have suggested the lack of a continued drop in gasoline demand is responsible for the market's refusal to drop on the crude build but the rise in demand is de minimus ...</p><p><blockquote>一些人认为，汽油需求没有持续下降是市场拒绝降低原油价格的原因，但需求的增长微乎其微……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2510f442e2b763efcc5f373b32e4e8d2\" tg-width=\"982\" tg-height=\"561\" referrerpolicy=\"no-referrer\"><i>Source: Bloomberg</i></p><p><blockquote><i>资料来源：彭博社</i></blockquote></p><p> US crude production has begun to rise after many months of \"discipline\"...</p><p><blockquote>经过数月的“纪律”，美国原油产量开始上升……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/307a71b95275646cf5eb099cafe3ed7a\" tg-width=\"982\" tg-height=\"552\" referrerpolicy=\"no-referrer\"><i>Source: Bloomberg</i></p><p><blockquote><i>资料来源：彭博社</i></blockquote></p><p> WTI was trading around $69.50 ahead of the official data and dipped only modestly after surprisingly large crude build...</p><p><blockquote>在官方数据公布之前，WTI 的交易价格约为 69.50 美元，在原油意外大幅上涨后仅小幅下跌……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a1f8f322ef7c001a2f6bf40c3e64c065\" tg-width=\"1280\" tg-height=\"666\" referrerpolicy=\"no-referrer\"><i><b>\"There are bottom pickers trying to get into this dip,\"</b></i>said Bob Yawger, director of energy futures at Mizuho in New York.</p><p><blockquote><i><b>“有抄底者试图进入这种下跌，”</b></i>纽约瑞穗能源期货总监鲍勃·亚格 (Bob Yawger) 表示。</blockquote></p><p> Analysts at Goldman Sachs Group say that the extra barrels of oil promised by OPEC won't be enough to plug the gap between production and recovering demand. They see Brent, the global benchmark, trading at an average of $80 a barrel in the fourth quarter, though they<b>warn of the potential for prices to \"gyrate wildly in the coming weeks.\"</b></p><p><blockquote>高盛集团分析师表示，欧佩克承诺的额外石油桶不足以填补产量和需求复苏之间的缺口。他们认为全球基准布伦特原油第四季度的平均交易价格为每桶 80 美元，尽管他们<b>警告价格“未来几周可能会大幅波动”。</b></blockquote></p><p> Bloomberg Intelligence Senior Energy Analyst Vince Piazza warned that<b>global balances for crude oil faces two-pronged pressure from the growing dominance of the delta variant of Covid-19 and OPEC+’s plan to boost production next month.</b>Softer prices across the energy sector may curb some concerns about broad inflation pressure. Meanwhile, we see near-term production in the U.S. remaining pretty resilient through the summer, with inventories for the week of July 16 expected to fall by 4.99 million barrels.</p><p><blockquote>彭博资讯高级能源分析师文斯·皮亚扎警告说，<b>全球原油平衡面临着来自 Covid-19 德尔塔变异毒株日益增长的主导地位和 OPEC+ 下月增产计划的双重压力。</b>能源行业价格走软可能会抑制对广泛通胀压力的一些担忧。与此同时，我们预计美国近期产量在整个夏季保持相当有弹性，7 月 16 日当周库存预计将下降 499 万桶。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>WTI Shrugs Off Unexpectedly Large Crude Inventory Build<blockquote>WTI 对意外的大量原油库存不屑一顾</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; 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}\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\">\nWTI Shrugs Off Unexpectedly Large Crude Inventory Build<blockquote>WTI 对意外的大量原油库存不屑一顾</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-21 22:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>After the initial tumble last night - after<b><i>API reported an unexpected build in crude inventories (and big build in gasoline stocks)</i></b>- oil prices have surged higher overnight and across the US equity market open as all those Monday fears appear to be evaporating once again.</p><p><blockquote>在昨晚最初的翻滚之后-之后<b><i>API 报告原油库存意外增加（汽油库存大幅增加）</i></b>- 由于所有周一的担忧似乎再次消失，油价隔夜和美国股市开盘均大幅上涨。</blockquote></p><p>   <b>“Risk-on is the main driver,”</b>said&nbsp;Giovanni Staunovo, an analyst at UBS Group AG in Zurich.   <b>“I still believe oil fundamentals themselves are supportive, but the last 72 hours were primarily driven by shifts in investors’ attitude to risk.”</b>  Maybe this morning's official data will reignote some sense of fundamentals in the energy complex... however fleeting.</p><p><blockquote><b>“冒险是主要驱动力”</b>苏黎世瑞银集团分析师乔瓦尼·斯陶诺沃 (Giovanni Staunovo) 表示。<b>“我仍然认为石油基本面本身具有支持性，但过去 72 小时主要是由投资者对风险态度的转变推动的。”</b>也许今天早上的官方数据会重新唤起能源综合体的一些基本面意识……不管多么短暂。</blockquote></p><p> <u><b>API</b></u></p><p><blockquote><u><b>火焰</b></u></blockquote></p><p> <ul>  <li><b>Crude +806k (-5.4mm exp)</b></li>  <li>Cushing -3.57mm</li>  <li><b>Gasoline +3.31mm (-1.0mm exp)</b></li>  <li>Distillates</li> </ul> <u><b>DOE</b></u></p><p><blockquote><ul><li><b>原油+806k（-5.4mm exp）</b></li><li>库欣-3.57毫米</li><li><b>汽油+3.31毫米（-1.0毫米经验）</b></li><li>馏出物</li></ul><u><b>多伊</b></u></blockquote></p><p> <ul>  <li>Crude +2.11mm (-3.7mm exp)</li>  <li>Cushing -1.347mm</li>  <li>Gasoline -121k (-1.0mm exp)</li>  <li>Distillates -1.349mm</li> </ul> Analysts expected a 9th straight weekly draw in crude stocks, even after API reported an unexpected build, but were wrong when the official data showed an even bigger 2.11mm barrel increase. Gasoline stocks dropped very marginally, but not the build we saw in API data...</p><p><blockquote><ul><li>粗品+2.11mm（-3.7mm实验值）</li><li>库欣-1.347mm</li><li>汽油 -121k（-1.0mm exp）</li><li>馏出物-1.349mm</li></ul>分析师预计原油库存将连续第 9 周下降，即使在 API 报告意外增加之后，但当官方数据显示原油库存增加 2.11 毫米桶时，他们就错了。汽油库存小幅下跌，但不是我们在API数据中看到的增长……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/53692cf75a66214e7f4a1494f2c4f5c4\" tg-width=\"982\" tg-height=\"563\" referrerpolicy=\"no-referrer\"><i>Source: Bloomberg</i></p><p><blockquote><i>资料来源：彭博社</i></blockquote></p><p> Some have suggested the lack of a continued drop in gasoline demand is responsible for the market's refusal to drop on the crude build but the rise in demand is de minimus ...</p><p><blockquote>一些人认为，汽油需求没有持续下降是市场拒绝降低原油价格的原因，但需求的增长微乎其微……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2510f442e2b763efcc5f373b32e4e8d2\" tg-width=\"982\" tg-height=\"561\" referrerpolicy=\"no-referrer\"><i>Source: Bloomberg</i></p><p><blockquote><i>资料来源：彭博社</i></blockquote></p><p> US crude production has begun to rise after many months of \"discipline\"...</p><p><blockquote>经过数月的“纪律”，美国原油产量开始上升……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/307a71b95275646cf5eb099cafe3ed7a\" tg-width=\"982\" tg-height=\"552\" referrerpolicy=\"no-referrer\"><i>Source: Bloomberg</i></p><p><blockquote><i>资料来源：彭博社</i></blockquote></p><p> WTI was trading around $69.50 ahead of the official data and dipped only modestly after surprisingly large crude build...</p><p><blockquote>在官方数据公布之前，WTI 的交易价格约为 69.50 美元，在原油意外大幅上涨后仅小幅下跌……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a1f8f322ef7c001a2f6bf40c3e64c065\" tg-width=\"1280\" tg-height=\"666\" referrerpolicy=\"no-referrer\"><i><b>\"There are bottom pickers trying to get into this dip,\"</b></i>said Bob Yawger, director of energy futures at Mizuho in New York.</p><p><blockquote><i><b>“有抄底者试图进入这种下跌，”</b></i>纽约瑞穗能源期货总监鲍勃·亚格 (Bob Yawger) 表示。</blockquote></p><p> Analysts at Goldman Sachs Group say that the extra barrels of oil promised by OPEC won't be enough to plug the gap between production and recovering demand. They see Brent, the global benchmark, trading at an average of $80 a barrel in the fourth quarter, though they<b>warn of the potential for prices to \"gyrate wildly in the coming weeks.\"</b></p><p><blockquote>高盛集团分析师表示，欧佩克承诺的额外石油桶不足以填补产量和需求复苏之间的缺口。他们认为全球基准布伦特原油第四季度的平均交易价格为每桶 80 美元，尽管他们<b>警告价格“未来几周可能会大幅波动”。</b></blockquote></p><p> Bloomberg Intelligence Senior Energy Analyst Vince Piazza warned that<b>global balances for crude oil faces two-pronged pressure from the growing dominance of the delta variant of Covid-19 and OPEC+’s plan to boost production next month.</b>Softer prices across the energy sector may curb some concerns about broad inflation pressure. Meanwhile, we see near-term production in the U.S. remaining pretty resilient through the summer, with inventories for the week of July 16 expected to fall by 4.99 million barrels.</p><p><blockquote>彭博资讯高级能源分析师文斯·皮亚扎警告说，<b>全球原油平衡面临着来自 Covid-19 德尔塔变异毒株日益增长的主导地位和 OPEC+ 下月增产计划的双重压力。</b>能源行业价格走软可能会抑制对广泛通胀压力的一些担忧。与此同时，我们预计美国近期产量在整个夏季保持相当有弹性，7 月 16 日当周库存预计将下降 499 万桶。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/energy/wti-shrugs-unexpectedly-large-crude-inventory-build?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRUD.UK":"WTI原油ETF"},"source_url":"https://www.zerohedge.com/energy/wti-shrugs-unexpectedly-large-crude-inventory-build?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158935021","content_text":"After the initial tumble last night - afterAPI reported an unexpected build in crude inventories (and big build in gasoline stocks)- oil prices have surged higher overnight and across the US equity market open as all those Monday fears appear to be evaporating once again.\n\n“Risk-on is the main driver,”said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. \n “I still believe oil fundamentals themselves are supportive, but the last 72 hours were primarily driven by shifts in investors’ attitude to risk.”\n\nMaybe this morning's official data will reignote some sense of fundamentals in the energy complex... however fleeting.\nAPI\n\nCrude +806k (-5.4mm exp)\nCushing -3.57mm\nGasoline +3.31mm (-1.0mm exp)\nDistillates\n\nDOE\n\nCrude +2.11mm (-3.7mm exp)\nCushing -1.347mm\nGasoline -121k (-1.0mm exp)\nDistillates -1.349mm\n\nAnalysts expected a 9th straight weekly draw in crude stocks, even after API reported an unexpected build, but were wrong when the official data showed an even bigger 2.11mm barrel increase. Gasoline stocks dropped very marginally, but not the build we saw in API data...\nSource: Bloomberg\nSome have suggested the lack of a continued drop in gasoline demand is responsible for the market's refusal to drop on the crude build but the rise in demand is de minimus ...\nSource: Bloomberg\nUS crude production has begun to rise after many months of \"discipline\"...\nSource: Bloomberg\nWTI was trading around $69.50 ahead of the official data and dipped only modestly after surprisingly large crude build...\n\"There are bottom pickers trying to get into this dip,\"said Bob Yawger, director of energy futures at Mizuho in New York.\nAnalysts at Goldman Sachs Group say that the extra barrels of oil promised by OPEC won't be enough to plug the gap between production and recovering demand. They see Brent, the global benchmark, trading at an average of $80 a barrel in the fourth quarter, though theywarn of the potential for prices to \"gyrate wildly in the coming weeks.\"\nBloomberg Intelligence Senior Energy Analyst Vince Piazza warned thatglobal balances for crude oil faces two-pronged pressure from the growing dominance of the delta variant of Covid-19 and OPEC+’s plan to boost production next month.Softer prices across the energy sector may curb some concerns about broad inflation pressure. Meanwhile, we see near-term production in the U.S. remaining pretty resilient through the summer, with inventories for the week of July 16 expected to fall by 4.99 million barrels.","news_type":1,"symbols_score_info":{"CLmain":0.9,"CRUD.UK":0.9,"BZmain":0.9,"MCLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":892,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176417076,"gmtCreate":1626912032895,"gmtModify":1633769889126,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Yey","listText":"Yey","text":"Yey","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/176417076","repostId":"1160000763","repostType":4,"isVote":1,"tweetType":1,"viewCount":987,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176265692,"gmtCreate":1626890551716,"gmtModify":1633770049716,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/176265692","repostId":"1148130964","repostType":4,"isVote":1,"tweetType":1,"viewCount":945,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176262409,"gmtCreate":1626890459801,"gmtModify":1633770050088,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Competitor","listText":"Competitor","text":"Competitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/176262409","repostId":"1160993283","repostType":4,"repost":{"id":"1160993283","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626881542,"share":"https://www.laohunote.com/m/news/1160993283?lang=zh_CN&edition=full","pubTime":"2021-07-21 23:32","market":"us","language":"en","title":"Nio Exec Jumps Ship To Join GM's New Electric Delivery Van Unit<blockquote>蔚来高管跳槽加入通用汽车新电动送货车部门</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160993283","media":"Benzinga Earnings","summary":"Chinese startupNio, Inc.NIO 5.98%has evolved as a premium maker of electric vehicles focusing on design and technology. It has now emerged that $one$ of its senior talents has been poached by legacy automakerGeneral Motor CompanyGM 1.22%.The new executives joining BrightDrop are: Anthony Armenta, who will join as chief technology officer; Rachad Youssef, chief product officer; Shaluinn Fullove, chief people officer; and Steve Hornyak, chief revenue officer.Armenta, Youssef and Fullove will be ba","content":"<p>Chinese startup<b>Nio, Inc.</b>NIO 5.98%has evolved as a premium maker of electric vehicles focusing on design and technology. It has now emerged that <a href=\"https://laohu8.com/S/AONE.U\">one</a> of its senior talents has been poached by legacy automaker<b>General Motor Company</b>GM 1.22%.</p><p><blockquote>中国创业公司<b>蔚来公司。</b>蔚来 5.98% 已发展成为一家专注于设计和技术的优质电动汽车制造商。现在发现<a href=\"https://laohu8.com/S/AONE.U\">一</a>其部分高级人才已被传统汽车制造商挖走<b>通用汽车公司</b>通用汽车 1.22%。</blockquote></p><p> <b>What Happened:</b>GMannounced Tuesday that it has added four new executives to the leadership team of its BrightDrop brand. The company launched BrightDrop as a new business in January to focus on the manufacturing of electric delivery vehicles.</p><p><blockquote><b>发生了什么：</b>GMAN周二宣布，其BrightDrop品牌的领导团队增加了四名新高管。该公司于一月份推出了 BrightDrop 作为一项新业务，专注于电动送货车的制造。</blockquote></p><p> The new executives joining BrightDrop are: Anthony Armenta, who will join as chief technology officer;&nbsp;Rachad Youssef,&nbsp;chief product officer;&nbsp;Shaluinn Fullove, chief people officer; and Steve Hornyak, chief revenue officer.</p><p><blockquote>加入 BrightDrop 的新高管有：Anthony Armenta，他将担任首席技术官；Rachad Youssef，首席产品官；Shaluinn Fullove，首席人力官；和首席收入官史蒂夫·霍尼亚克。</blockquote></p><p> Armenta, Youssef and Fullove will be based in BrightDrop's San Francisco Bay Area offices, and Hornyak in Atlanta, the company said.</p><p><blockquote>该公司表示，Armenta、Youssef 和 Fullove 将设在 BrightDrop 的旧金山湾区办事处和亚特兰大的 Hornyak。</blockquote></p><p> Youssef was previously employed at Nio's advanced research and innovation center in Silicon Valley. His LinkedIn bio, which has&nbsp;yet to be updated with the new position, shows&nbsp;he has been with Nio since June 2016 as <a href=\"https://laohu8.com/S/VP..UK\">VP</a>, software product management.</p><p><blockquote>优素福此前受雇于蔚来位于硅谷的高级研究与创新中心。他的 LinkedIn 简历（尚未更新新职位）显示，他自 2016 年 6 月以来一直在蔚来工作，担任<a href=\"https://laohu8.com/S/VP..UK\">副总裁</a>软件产品管理。</blockquote></p><p> Before his tenure at Nio, Youssef was employed at<b>Amazon, Inc.</b>AMZN 0.2%-owned autonomous vehicle companyZooxfor about a year-and-a-half.</p><p><blockquote>在蔚来任职之前，优素福受雇于<b>亚马逊公司。</b>AMZN 持股 0.2% 的自动驾驶汽车公司 Zoox 大约一年半。</blockquote></p><p> <b>Why It's Important:</b>GM's appointment of new talent at BrightDrop signals a serious intent to make headway into the ecosystem of electric first-to-last-mile products, software and services to empower delivery and logistics companies.</p><p><blockquote><b>为什么重要：</b>通用汽车在 BrightDrop 任命新人才，标志着其认真打算在从第一英里到最后一英里的电动产品、软件和服务生态系统中取得进展，以增强送货和物流公司的能力。</blockquote></p><p> BrightDrop is scheduled to launch the EV600 van this year, and it has signed<b>FedEx Corporation</b>FDX 0.03%<a href=\"https://laohu8.com/S/EXPR\">Express</a> as its first customer.</p><p><blockquote>BrightDrop 计划今年推出 EV600 货车，并已签约<b>联邦快递公司</b>FDX 0.03%<a href=\"https://laohu8.com/S/EXPR\">表达</a>作为它的第一个客户。</blockquote></p><p> Nio shares were up 5.16% at $46.45 at last check Wednesday, while GM was up 1.05% at $56.74.</p><p><blockquote>周三最后一次检查时，蔚来股价上涨 5.16%，至 46.45 美元，通用汽车股价上涨 1.05%，至 56.74 美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nio Exec Jumps Ship To Join GM's New Electric Delivery Van Unit<blockquote>蔚来高管跳槽加入通用汽车新电动送货车部门</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\">\nNio Exec Jumps Ship To Join GM's New Electric Delivery Van Unit<blockquote>蔚来高管跳槽加入通用汽车新电动送货车部门</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-07-21 23:32</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Chinese startup<b>Nio, Inc.</b>NIO 5.98%has evolved as a premium maker of electric vehicles focusing on design and technology. It has now emerged that <a href=\"https://laohu8.com/S/AONE.U\">one</a> of its senior talents has been poached by legacy automaker<b>General Motor Company</b>GM 1.22%.</p><p><blockquote>中国创业公司<b>蔚来公司。</b>蔚来 5.98% 已发展成为一家专注于设计和技术的优质电动汽车制造商。现在发现<a href=\"https://laohu8.com/S/AONE.U\">一</a>其部分高级人才已被传统汽车制造商挖走<b>通用汽车公司</b>通用汽车 1.22%。</blockquote></p><p> <b>What Happened:</b>GMannounced Tuesday that it has added four new executives to the leadership team of its BrightDrop brand. The company launched BrightDrop as a new business in January to focus on the manufacturing of electric delivery vehicles.</p><p><blockquote><b>发生了什么：</b>GMAN周二宣布，其BrightDrop品牌的领导团队增加了四名新高管。该公司于一月份推出了 BrightDrop 作为一项新业务，专注于电动送货车的制造。</blockquote></p><p> The new executives joining BrightDrop are: Anthony Armenta, who will join as chief technology officer;&nbsp;Rachad Youssef,&nbsp;chief product officer;&nbsp;Shaluinn Fullove, chief people officer; and Steve Hornyak, chief revenue officer.</p><p><blockquote>加入 BrightDrop 的新高管有：Anthony Armenta，他将担任首席技术官；Rachad Youssef，首席产品官；Shaluinn Fullove，首席人力官；和首席收入官史蒂夫·霍尼亚克。</blockquote></p><p> Armenta, Youssef and Fullove will be based in BrightDrop's San Francisco Bay Area offices, and Hornyak in Atlanta, the company said.</p><p><blockquote>该公司表示，Armenta、Youssef 和 Fullove 将设在 BrightDrop 的旧金山湾区办事处和亚特兰大的 Hornyak。</blockquote></p><p> Youssef was previously employed at Nio's advanced research and innovation center in Silicon Valley. His LinkedIn bio, which has&nbsp;yet to be updated with the new position, shows&nbsp;he has been with Nio since June 2016 as <a href=\"https://laohu8.com/S/VP..UK\">VP</a>, software product management.</p><p><blockquote>优素福此前受雇于蔚来位于硅谷的高级研究与创新中心。他的 LinkedIn 简历（尚未更新新职位）显示，他自 2016 年 6 月以来一直在蔚来工作，担任<a href=\"https://laohu8.com/S/VP..UK\">副总裁</a>软件产品管理。</blockquote></p><p> Before his tenure at Nio, Youssef was employed at<b>Amazon, Inc.</b>AMZN 0.2%-owned autonomous vehicle companyZooxfor about a year-and-a-half.</p><p><blockquote>在蔚来任职之前，优素福受雇于<b>亚马逊公司。</b>AMZN 持股 0.2% 的自动驾驶汽车公司 Zoox 大约一年半。</blockquote></p><p> <b>Why It's Important:</b>GM's appointment of new talent at BrightDrop signals a serious intent to make headway into the ecosystem of electric first-to-last-mile products, software and services to empower delivery and logistics companies.</p><p><blockquote><b>为什么重要：</b>通用汽车在 BrightDrop 任命新人才，标志着其认真打算在从第一英里到最后一英里的电动产品、软件和服务生态系统中取得进展，以增强送货和物流公司的能力。</blockquote></p><p> BrightDrop is scheduled to launch the EV600 van this year, and it has signed<b>FedEx Corporation</b>FDX 0.03%<a href=\"https://laohu8.com/S/EXPR\">Express</a> as its first customer.</p><p><blockquote>BrightDrop 计划今年推出 EV600 货车，并已签约<b>联邦快递公司</b>FDX 0.03%<a href=\"https://laohu8.com/S/EXPR\">表达</a>作为它的第一个客户。</blockquote></p><p> Nio shares were up 5.16% at $46.45 at last check Wednesday, while GM was up 1.05% at $56.74.</p><p><blockquote>周三最后一次检查时，蔚来股价上涨 5.16%，至 46.45 美元，通用汽车股价上涨 1.05%，至 56.74 美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","NGD":"New Gold"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160993283","content_text":"Chinese startupNio, Inc.NIO 5.98%has evolved as a premium maker of electric vehicles focusing on design and technology. It has now emerged that one of its senior talents has been poached by legacy automakerGeneral Motor CompanyGM 1.22%.\nWhat Happened:GMannounced Tuesday that it has added four new executives to the leadership team of its BrightDrop brand. The company launched BrightDrop as a new business in January to focus on the manufacturing of electric delivery vehicles.\nThe new executives joining BrightDrop are: Anthony Armenta, who will join as chief technology officer; Rachad Youssef, chief product officer; Shaluinn Fullove, chief people officer; and Steve Hornyak, chief revenue officer.\nArmenta, Youssef and Fullove will be based in BrightDrop's San Francisco Bay Area offices, and Hornyak in Atlanta, the company said.\nYoussef was previously employed at Nio's advanced research and innovation center in Silicon Valley. His LinkedIn bio, which has yet to be updated with the new position, shows he has been with Nio since June 2016 as VP, software product management.\nBefore his tenure at Nio, Youssef was employed atAmazon, Inc.AMZN 0.2%-owned autonomous vehicle companyZooxfor about a year-and-a-half.\nWhy It's Important:GM's appointment of new talent at BrightDrop signals a serious intent to make headway into the ecosystem of electric first-to-last-mile products, software and services to empower delivery and logistics companies.\nBrightDrop is scheduled to launch the EV600 van this year, and it has signedFedEx CorporationFDX 0.03%Express as its first customer.\nNio shares were up 5.16% at $46.45 at last check Wednesday, while GM was up 1.05% at $56.74.","news_type":1,"symbols_score_info":{"NIO":0.9,"NGD":0.9,"UNT":0.9}},"isVote":1,"tweetType":1,"viewCount":775,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176262879,"gmtCreate":1626890326891,"gmtModify":1633770050314,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Crazy money","listText":"Crazy money","text":"Crazy money","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/176262879","repostId":"1156292040","repostType":4,"repost":{"id":"1156292040","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626880084,"share":"https://www.laohunote.com/m/news/1156292040?lang=zh_CN&edition=full","pubTime":"2021-07-21 23:08","market":"us","language":"en","title":"Airline stocks, Cruise Stocks rally continues in morning trading<blockquote>航空股、邮轮股早盘继续上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1156292040","media":"Tiger Newspress","summary":"(July 21) Airline stocks, Cruise Stocks rally continues in morning trading.\nShares of Carnival  rose","content":"<p>(July&nbsp;21)&nbsp;Airline stocks, Cruise Stocks rally continues in morning trading.<img src=\"https://static.tigerbbs.com/552c4c7cf72c26141391a54bd44731bc\" tg-width=\"307\" tg-height=\"364\" width=\"100%\" height=\"auto\"></p><p><blockquote>（7月21日）航空股、邮轮股在早盘交易中继续上涨。</blockquote></p><p> Shares of&nbsp;<a href=\"https://laohu8.com/S/CCL\">Carnival</a> &nbsp;rose&nbsp;over&nbsp;3%&nbsp;in&nbsp;premarket trading,&nbsp;after&nbsp;the company said it plans to resume guest cruise operations across eight of its cruise line brands by the end of 2021. This would bring Carnival's total operating capacity to nearly 75% by the end of 2021.</p><p><blockquote>股份<a href=\"https://laohu8.com/S/CCL\">狂欢节</a>该公司表示计划在 2021 年底前恢复旗下八个邮轮品牌的客运邮轮业务，盘前交易中股价上涨超过 3%。到2021年底，嘉年华的总运营能力将达到近75%。</blockquote></p><p> A total of 54 ships across AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, P&amp;O Cruises, and Seabourn plan to resume operations by the end of 2021.&nbsp;Carnival Cruise Line plans to return its full fleet to service this year, which would bring a total of 63 ships back to operations in 2021.</p><p><blockquote>AIDA Cruises、Carnival Cruise Line、Costa Cruises、Cunard、Holland America Line、Princess Cruises、P&amp;O Cruises 和 Seabourn 等公司共有 54 艘船舶计划在 2021 年底前恢复运营。嘉年华邮轮公司计划今年让其全部船队恢复运营，这将使 2021 年共有 63 艘船舶恢复运营。</blockquote></p><p> Carnival stock has rebounded 32% over the last year but tumbled in June&nbsp;as it ran into some hurdles with the state of Florida's pushback over COVID-19 vaccine mandates, which Carnival views as important to making passengers feel safe on board.Cruise stockshave come under more selling pressure in July over a recent spike in COVID-19 cases.</p><p><blockquote>嘉年华股价在去年反弹了 32%，但在 6 月份暴跌，因为佛罗里达州对 COVID-19 疫苗强制令的抵制遇到了一些障碍，嘉年华认为这对于让乘客在船上感到安全很重要。 由于最近 COVID-19 病例激增，游轮股票在 7 月份面临更大的抛售压力。</blockquote></p><p> Nonetheless, the updated roadmap on returning to normal operations gives investors some near-term visibility on Carnival's recovery. There seems to be tremendous pent-up demand for people to travel again. Carnival announced in early July that a 40-night winter sun Caribbean cruise on P&amp;O Cruises sold out in the first day.</p><p><blockquote>尽管如此，更新后的恢复正常运营路线图让投资者对嘉年华的复苏有了一些近期的了解。人们似乎有巨大的被压抑的需求再次旅行。嘉年华在7月初宣布，P&amp;O Cruises的40晚冬季太阳加勒比游轮在第一天就售罄了。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Airline stocks, Cruise Stocks rally continues in morning trading<blockquote>航空股、邮轮股早盘继续上涨</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\">\nAirline stocks, Cruise Stocks rally continues in morning trading<blockquote>航空股、邮轮股早盘继续上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-21 23:08</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(July&nbsp;21)&nbsp;Airline stocks, Cruise Stocks rally continues in morning trading.<img src=\"https://static.tigerbbs.com/552c4c7cf72c26141391a54bd44731bc\" tg-width=\"307\" tg-height=\"364\" width=\"100%\" height=\"auto\"></p><p><blockquote>（7月21日）航空股、邮轮股在早盘交易中继续上涨。</blockquote></p><p> Shares of&nbsp;<a href=\"https://laohu8.com/S/CCL\">Carnival</a> &nbsp;rose&nbsp;over&nbsp;3%&nbsp;in&nbsp;premarket trading,&nbsp;after&nbsp;the company said it plans to resume guest cruise operations across eight of its cruise line brands by the end of 2021. This would bring Carnival's total operating capacity to nearly 75% by the end of 2021.</p><p><blockquote>股份<a href=\"https://laohu8.com/S/CCL\">狂欢节</a>该公司表示计划在 2021 年底前恢复旗下八个邮轮品牌的客运邮轮业务，盘前交易中股价上涨超过 3%。到2021年底，嘉年华的总运营能力将达到近75%。</blockquote></p><p> A total of 54 ships across AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, P&amp;O Cruises, and Seabourn plan to resume operations by the end of 2021.&nbsp;Carnival Cruise Line plans to return its full fleet to service this year, which would bring a total of 63 ships back to operations in 2021.</p><p><blockquote>AIDA Cruises、Carnival Cruise Line、Costa Cruises、Cunard、Holland America Line、Princess Cruises、P&amp;O Cruises 和 Seabourn 等公司共有 54 艘船舶计划在 2021 年底前恢复运营。嘉年华邮轮公司计划今年让其全部船队恢复运营，这将使 2021 年共有 63 艘船舶恢复运营。</blockquote></p><p> Carnival stock has rebounded 32% over the last year but tumbled in June&nbsp;as it ran into some hurdles with the state of Florida's pushback over COVID-19 vaccine mandates, which Carnival views as important to making passengers feel safe on board.Cruise stockshave come under more selling pressure in July over a recent spike in COVID-19 cases.</p><p><blockquote>嘉年华股价在去年反弹了 32%，但在 6 月份暴跌，因为佛罗里达州对 COVID-19 疫苗强制令的抵制遇到了一些障碍，嘉年华认为这对于让乘客在船上感到安全很重要。 由于最近 COVID-19 病例激增，游轮股票在 7 月份面临更大的抛售压力。</blockquote></p><p> Nonetheless, the updated roadmap on returning to normal operations gives investors some near-term visibility on Carnival's recovery. There seems to be tremendous pent-up demand for people to travel again. Carnival announced in early July that a 40-night winter sun Caribbean cruise on P&amp;O Cruises sold out in the first day.</p><p><blockquote>尽管如此，更新后的恢复正常运营路线图让投资者对嘉年华的复苏有了一些近期的了解。人们似乎有巨大的被压抑的需求再次旅行。嘉年华在7月初宣布，P&amp;O Cruises的40晚冬季太阳加勒比游轮在第一天就售罄了。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CCL":"嘉年华邮轮","RCL":"皇家加勒比邮轮","SAVE":"Spirit Airlines","NCLH":"挪威邮轮","AAL":"美国航空","UAL":"联合大陆航空","BA":"波音","LUV":"西南航空","DAL":"达美航空"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156292040","content_text":"(July 21) Airline stocks, Cruise Stocks rally continues in morning trading.\nShares of Carnival  rose over 3% in premarket trading, after the company said it plans to resume guest cruise operations across eight of its cruise line brands by the end of 2021. This would bring Carnival's total operating capacity to nearly 75% by the end of 2021.\nA total of 54 ships across AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, P&O Cruises, and Seabourn plan to resume operations by the end of 2021. Carnival Cruise Line plans to return its full fleet to service this year, which would bring a total of 63 ships back to operations in 2021.\nCarnival stock has rebounded 32% over the last year but tumbled in June as it ran into some hurdles with the state of Florida's pushback over COVID-19 vaccine mandates, which Carnival views as important to making passengers feel safe on board.Cruise stockshave come under more selling pressure in July over a recent spike in COVID-19 cases.\nNonetheless, the updated roadmap on returning to normal operations gives investors some near-term visibility on Carnival's recovery. There seems to be tremendous pent-up demand for people to travel again. Carnival announced in early July that a 40-night winter sun Caribbean cruise on P&O Cruises sold out in the first day.","news_type":1,"symbols_score_info":{"AAL":0.9,"UAL":0.9,"CCL":0.9,"NCLH":0.9,"RCL":0.9,"DAL":0.9,"BA":0.9,"LUV":0.9,"SAVE":0.9}},"isVote":1,"tweetType":1,"viewCount":762,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":802167507,"gmtCreate":1627736285809,"gmtModify":1633756729688,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Is this a good&nbsp;bet?","listText":"Is this a good&nbsp;bet?","text":"Is this a good bet?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/802167507","repostId":"1162771150","repostType":4,"isVote":1,"tweetType":1,"viewCount":2907,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802124563,"gmtCreate":1627737599552,"gmtModify":1633756721772,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Crash coming, no more rocket&nbsp;power?","listText":"Crash coming, no more rocket&nbsp;power?","text":"Crash coming, no more rocket power?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802124563","repostId":"2155015426","repostType":4,"isVote":1,"tweetType":1,"viewCount":3691,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178231731,"gmtCreate":1626822969323,"gmtModify":1633770780671,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Again?","listText":"Again?","text":"Again?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/178231731","repostId":"1109861258","repostType":4,"repost":{"id":"1109861258","kind":"news","pubTimestamp":1626793354,"share":"https://www.laohunote.com/m/news/1109861258?lang=zh_CN&edition=full","pubTime":"2021-07-20 23:02","market":"us","language":"en","title":"Behind The Plunge In Yields: This Is A Growth Story, Not A Rethink Of Inflation<blockquote>收益率暴跌背后：这是一个增长故事，而不是对通胀的反思</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109861258","media":"zerohedge","summary":"In a notable turn of events, the overnight session saw an initial attempt at a modest reversal in th","content":"<p>In a notable turn of events, the overnight session saw an initial attempt at a modest reversal in the recent Treasury rally only to be met with further buying interest. The net result was a tick lower in 10-year yields that brought the benchmark to levels not seen since mid-February.</p><p><blockquote>值得注意的是，隔夜交易中，最近的国债反弹最初试图小幅逆转，但遭到了进一步的购买兴趣。最终结果是 10 年期国债收益率略有下降，使基准利率达到 2 月中旬以来的最高水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/48f958db8d2903a76ff6541648b287fc\" tg-width=\"1223\" tg-height=\"687\" width=\"100%\" height=\"auto\">With the next technical target sill 5 bps away, we’ll be watching the interplay between risk assets and US rates as the delta-inspired repricing continues. We’re cognizant that the severity of the recent move has led to stretched momentum measures, implying incremental gains will be more difficult to achieve. This isn’t to suggest the floor for rates is evident at the moment, rather that it should be anticipated that the pace of the rally will slow.<b>There has been plenty of chatter surrounding the possibility 10- year yields dip below 1.0%; an eventuality that would be a short-lived endeavor, but not one that’s off the table.</b>More immediately however, will be gauging the extent to which rising case counts can carry yields even lower from here.</p><p><blockquote>距离下一个技术目标门槛还有 5 个基点，我们将关注风险资产与美国利率之间的相互作用，因为受 delta 启发的重新定价仍在继续。我们认识到，最近这一举措的严重性导致动量措施捉襟见肘，这意味着增量收益将更加难以实现。这并不是说目前利率下限很明显，而是说应该预计反弹的步伐将会放缓。<b>围绕 10 年期国债收益率可能跌破 1.0% 的可能性有很多讨论；这种可能性是短暂的，但不是不可能的。</b>然而，更直接的是衡量病例数上升在多大程度上会导致收益率进一步下降。</blockquote></p><p> <b>It would be an oversimplification to conclude this move is entirely a function of the economic risks posed by the reinstatement of covid-19 restrictions. In fact, we’ll argue the rally has been exaggerated by the Fed’s most recent efforts to be less dovish.</b>Policymakers are in the pre-meeting radio period of radio silence; which eliminates the potential for any official commentary on the Fed’s take on the renewed pandemic risks. Moreover,<b>it leaves investors operating under the assumption that 1) tapering is still on track, 2) rate hikes as early as next year could come to fruition, and 3) the Fed’s ‘will act if not transitory’ stance on inflation remains value</b>. While these surely still hold true to some extent, the implied commitment may be waning given investors’ response to the recent covid developments.</p><p><blockquote><b>如果得出这一举措完全是恢复新冠肺炎限制所带来的经济风险的结论，那就过于简单化了。事实上，我们认为美联储最近减少鸽派的努力夸大了这次反弹。</b>政策制定者正处于会前无线电沉默时期；这就消除了对美联储应对新出现的大流行病风险发表任何官方评论的可能性。而且，<b>这使得投资者在以下假设下操作：1）缩减加息规模仍在按计划进行；2）最早明年可能加息；3）美联储在通胀问题上的“即使不是暂时性的，也会采取行动”立场仍然有效。</b>. 虽然这些肯定在某种程度上仍然成立，但鉴于投资者对最近 covid 事态发展的反应，隐含的承诺可能正在减弱。</blockquote></p><p> Headlines this morning conclude ‘markets no longer worried about inflation’; a notion, which is ostensibly consistent with the price action in US rates, misses the mark.<b>10-year breakevens are still at 225 bp and a distance away from the mid-June lows.</b>In addition, rising supply-driven inflation that functions as a tax on consumption as opposed to a reflection of a healthy real economy creates downside risks for the recovery. When combined with concerns that H1 will represent the peak of the rebound, it follows intuitively that the market has moved on to trading the next stage in the cycle – i.e. recalibrating growth expectations in reflecting the new norm; one in which herd immunity will prove elusive and variant risks (delta and others) become an ongoing concern.<b>A quick glance at real yields near -100 bp reinforces the read that this is a growth story, not a collective rethink of reflation.</b></p><p><blockquote>今早的头条新闻得出结论：“市场不再担心通货膨胀”；一个表面上与美国利率价格走势一致的概念没有抓住要点。<b>10 年盈亏平衡点仍在 225 个基点，距离 6 月中旬的低点还有一段距离。</b>此外，供应驱动型通胀上升的作用是对消费征税，而不是健康实体经济的反映，这给经济复苏带来了下行风险。当结合对上半年将代表反弹顶峰的担忧时，直观地可以看出，市场已经进入了周期的下一阶段——即重新调整增长预期，以反映新常态；群体免疫将被证明是难以捉摸的，变异风险（delta和其他）成为一个持续的问题。<b>快速浏览一下接近 -100 个基点的实际收益率，就会强化这样的解读：这是一个增长故事，而不是对通货膨胀的集体反思。</b></blockquote></p><p> There is yet another nuance of the price action that merits highlighting. Specifically, the move thus far has questionably been a flattening event as 10s and 30s outperform. The front end of the curve has benefited to a lesser extent as monetary policy expectations have remained in place.<b>This morning however, we’re starting to see the 5-year sector lead the rally. In the event we’re seeing the transition from a longer-term growth story to further pricing out Fed tightening, this could ultimately serve to moderate the gains in 10s and 30s.</b>This isn’t to suggest that less room for the FOMC to eventually normalize policy rates is a compelling reason to sell duration in the face of a resurgence of the pandemic. Instead, confidence that monetary policymakers won’t be so eager to respond to pockets of reflation given the renewed headwinds facing the global recovery</p><p><blockquote>价格走势还有另一个值得强调的细微差别。具体来说，到目前为止，随着 10 年代和 30 年代跑赢大盘，这一举动值得怀疑。由于货币政策预期保持不变，曲线的前端受益程度较小。<b>然而，今天上午，我们开始看到 5 年期板块领涨。如果我们看到从长期增长故事向进一步抵消美联储紧缩政策的过渡，这最终可能会缓和 10 年代和 30 年代的涨幅。</b>这并不意味着联邦公开市场委员会（FOMC）最终使政策利率正常化的空间变小，是在大流行病卷土重来的情况下抛售久期的令人信服的理由。相反，人们相信，鉴于全球经济复苏面临新的阻力，货币政策制定者不会急于应对小规模的通货膨胀。</blockquote></p><p> We’ll be tracking this particular evolution in the nature of the bullish repricing if, for no other reason,<b>it will be instrumental in gauging what to anticipate in response to next week’s FOMC meeting and Powell’s press conference.</b>Note that in light of the +8.1% consensus estimate for next week’s release of Q2 real GDP, there is little question that a strong rebound in H1 is priced in and investors have shifted toward trading the next stage in the recovery that contains far greater uncertainties.</p><p><blockquote>如果没有其他原因、<b>这将有助于判断下周联邦公开市场委员会会议和鲍威尔新闻发布会的预期。</b>请注意，鉴于下周公布的第二季度实际国内生产总值（Q2）数据的一致预期为+8.1%，毫无疑问，上半年将出现强劲反弹，投资者已转向复苏的下一阶段，而复苏的下一阶段存在更大的不确定性。</blockquote></p><p> If the move in real yields is any indication there is growing angst on the rebound; 10-year real rates reached their lowest level since early January and within striking distance of the cycle low at -112.4 bp.</p><p><blockquote>如果实际收益率的变动表明人们对反弹的担忧与日俱增；10年期实际利率达到1月初以来的最低水平，距离周期低点-112.4个基点不远。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/add9a9864bc513a7f99d365620818f07\" tg-width=\"1223\" tg-height=\"687\" width=\"100%\" height=\"auto\">The decline in reals is made all the more noteworthy given the proximity to Thursday’s $16 bn new issue 10-year TIPS auction. Current valuations demonstrate not only increasing worry on the spread of the delta variant domestically, but perhaps more consequentially, overseas. Whereas there was once a time when the US rates landscape was solely dictated by the domestic fundamentals, the globalization of the economy and markets now leave Treasury yields a function of the global backdrop. This helps account for the impressive round of bullishness and durability of the bid for USTs even as the data has generally continued to perform well. We’re reminded of the time tested adage that resistance hardly holds on the third attempt, and will monitor the -112 bp line in the sand in 10-year real yields over the balance of the week.</p><p><blockquote>鉴于周四价值 160 亿美元的新一期 10 年期 TIPS 拍卖临近，雷亚尔的下跌更加值得注意。目前的估值表明，人们不仅越来越担心德尔塔变异毒株在国内的蔓延，而且更重要的是，对海外的蔓延也越来越担心。尽管曾经有一段时间，美国的利率格局完全由国内基本面决定，但经济和市场的全球化现在使国债收益率成为全球背景的函数。这有助于解释令人印象深刻的一轮看涨情绪和对 USTs 竞购的持久性，尽管数据总体上继续表现良好。我们想起了一句久经考验的格言，即阻力很难在第三次尝试中站稳脚跟，并将在本周剩余时间内监测 10 年期实际收益率的 -112 个基点线。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Behind The Plunge In Yields: This Is A Growth Story, Not A Rethink Of Inflation<blockquote>收益率暴跌背后：这是一个增长故事，而不是对通胀的反思</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\">\nBehind The Plunge In Yields: This Is A Growth Story, Not A Rethink Of Inflation<blockquote>收益率暴跌背后：这是一个增长故事，而不是对通胀的反思</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-20 23:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In a notable turn of events, the overnight session saw an initial attempt at a modest reversal in the recent Treasury rally only to be met with further buying interest. The net result was a tick lower in 10-year yields that brought the benchmark to levels not seen since mid-February.</p><p><blockquote>值得注意的是，隔夜交易中，最近的国债反弹最初试图小幅逆转，但遭到了进一步的购买兴趣。最终结果是 10 年期国债收益率略有下降，使基准利率达到 2 月中旬以来的最高水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/48f958db8d2903a76ff6541648b287fc\" tg-width=\"1223\" tg-height=\"687\" width=\"100%\" height=\"auto\">With the next technical target sill 5 bps away, we’ll be watching the interplay between risk assets and US rates as the delta-inspired repricing continues. We’re cognizant that the severity of the recent move has led to stretched momentum measures, implying incremental gains will be more difficult to achieve. This isn’t to suggest the floor for rates is evident at the moment, rather that it should be anticipated that the pace of the rally will slow.<b>There has been plenty of chatter surrounding the possibility 10- year yields dip below 1.0%; an eventuality that would be a short-lived endeavor, but not one that’s off the table.</b>More immediately however, will be gauging the extent to which rising case counts can carry yields even lower from here.</p><p><blockquote>距离下一个技术目标门槛还有 5 个基点，我们将关注风险资产与美国利率之间的相互作用，因为受 delta 启发的重新定价仍在继续。我们认识到，最近这一举措的严重性导致动量措施捉襟见肘，这意味着增量收益将更加难以实现。这并不是说目前利率下限很明显，而是说应该预计反弹的步伐将会放缓。<b>围绕 10 年期国债收益率可能跌破 1.0% 的可能性有很多讨论；这种可能性是短暂的，但不是不可能的。</b>然而，更直接的是衡量病例数上升在多大程度上会导致收益率进一步下降。</blockquote></p><p> <b>It would be an oversimplification to conclude this move is entirely a function of the economic risks posed by the reinstatement of covid-19 restrictions. In fact, we’ll argue the rally has been exaggerated by the Fed’s most recent efforts to be less dovish.</b>Policymakers are in the pre-meeting radio period of radio silence; which eliminates the potential for any official commentary on the Fed’s take on the renewed pandemic risks. Moreover,<b>it leaves investors operating under the assumption that 1) tapering is still on track, 2) rate hikes as early as next year could come to fruition, and 3) the Fed’s ‘will act if not transitory’ stance on inflation remains value</b>. While these surely still hold true to some extent, the implied commitment may be waning given investors’ response to the recent covid developments.</p><p><blockquote><b>如果得出这一举措完全是恢复新冠肺炎限制所带来的经济风险的结论，那就过于简单化了。事实上，我们认为美联储最近减少鸽派的努力夸大了这次反弹。</b>政策制定者正处于会前无线电沉默时期；这就消除了对美联储应对新出现的大流行病风险发表任何官方评论的可能性。而且，<b>这使得投资者在以下假设下操作：1）缩减加息规模仍在按计划进行；2）最早明年可能加息；3）美联储在通胀问题上的“即使不是暂时性的，也会采取行动”立场仍然有效。</b>. 虽然这些肯定在某种程度上仍然成立，但鉴于投资者对最近 covid 事态发展的反应，隐含的承诺可能正在减弱。</blockquote></p><p> Headlines this morning conclude ‘markets no longer worried about inflation’; a notion, which is ostensibly consistent with the price action in US rates, misses the mark.<b>10-year breakevens are still at 225 bp and a distance away from the mid-June lows.</b>In addition, rising supply-driven inflation that functions as a tax on consumption as opposed to a reflection of a healthy real economy creates downside risks for the recovery. When combined with concerns that H1 will represent the peak of the rebound, it follows intuitively that the market has moved on to trading the next stage in the cycle – i.e. recalibrating growth expectations in reflecting the new norm; one in which herd immunity will prove elusive and variant risks (delta and others) become an ongoing concern.<b>A quick glance at real yields near -100 bp reinforces the read that this is a growth story, not a collective rethink of reflation.</b></p><p><blockquote>今早的头条新闻得出结论：“市场不再担心通货膨胀”；一个表面上与美国利率价格走势一致的概念没有抓住要点。<b>10 年盈亏平衡点仍在 225 个基点，距离 6 月中旬的低点还有一段距离。</b>此外，供应驱动型通胀上升的作用是对消费征税，而不是健康实体经济的反映，这给经济复苏带来了下行风险。当结合对上半年将代表反弹顶峰的担忧时，直观地可以看出，市场已经进入了周期的下一阶段——即重新调整增长预期，以反映新常态；群体免疫将被证明是难以捉摸的，变异风险（delta和其他）成为一个持续的问题。<b>快速浏览一下接近 -100 个基点的实际收益率，就会强化这样的解读：这是一个增长故事，而不是对通货膨胀的集体反思。</b></blockquote></p><p> There is yet another nuance of the price action that merits highlighting. Specifically, the move thus far has questionably been a flattening event as 10s and 30s outperform. The front end of the curve has benefited to a lesser extent as monetary policy expectations have remained in place.<b>This morning however, we’re starting to see the 5-year sector lead the rally. In the event we’re seeing the transition from a longer-term growth story to further pricing out Fed tightening, this could ultimately serve to moderate the gains in 10s and 30s.</b>This isn’t to suggest that less room for the FOMC to eventually normalize policy rates is a compelling reason to sell duration in the face of a resurgence of the pandemic. Instead, confidence that monetary policymakers won’t be so eager to respond to pockets of reflation given the renewed headwinds facing the global recovery</p><p><blockquote>价格走势还有另一个值得强调的细微差别。具体来说，到目前为止，随着 10 年代和 30 年代跑赢大盘，这一举动值得怀疑。由于货币政策预期保持不变，曲线的前端受益程度较小。<b>然而，今天上午，我们开始看到 5 年期板块领涨。如果我们看到从长期增长故事向进一步抵消美联储紧缩政策的过渡，这最终可能会缓和 10 年代和 30 年代的涨幅。</b>这并不意味着联邦公开市场委员会（FOMC）最终使政策利率正常化的空间变小，是在大流行病卷土重来的情况下抛售久期的令人信服的理由。相反，人们相信，鉴于全球经济复苏面临新的阻力，货币政策制定者不会急于应对小规模的通货膨胀。</blockquote></p><p> We’ll be tracking this particular evolution in the nature of the bullish repricing if, for no other reason,<b>it will be instrumental in gauging what to anticipate in response to next week’s FOMC meeting and Powell’s press conference.</b>Note that in light of the +8.1% consensus estimate for next week’s release of Q2 real GDP, there is little question that a strong rebound in H1 is priced in and investors have shifted toward trading the next stage in the recovery that contains far greater uncertainties.</p><p><blockquote>如果没有其他原因、<b>这将有助于判断下周联邦公开市场委员会会议和鲍威尔新闻发布会的预期。</b>请注意，鉴于下周公布的第二季度实际国内生产总值（Q2）数据的一致预期为+8.1%，毫无疑问，上半年将出现强劲反弹，投资者已转向复苏的下一阶段，而复苏的下一阶段存在更大的不确定性。</blockquote></p><p> If the move in real yields is any indication there is growing angst on the rebound; 10-year real rates reached their lowest level since early January and within striking distance of the cycle low at -112.4 bp.</p><p><blockquote>如果实际收益率的变动表明人们对反弹的担忧与日俱增；10年期实际利率达到1月初以来的最低水平，距离周期低点-112.4个基点不远。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/add9a9864bc513a7f99d365620818f07\" tg-width=\"1223\" tg-height=\"687\" width=\"100%\" height=\"auto\">The decline in reals is made all the more noteworthy given the proximity to Thursday’s $16 bn new issue 10-year TIPS auction. Current valuations demonstrate not only increasing worry on the spread of the delta variant domestically, but perhaps more consequentially, overseas. Whereas there was once a time when the US rates landscape was solely dictated by the domestic fundamentals, the globalization of the economy and markets now leave Treasury yields a function of the global backdrop. This helps account for the impressive round of bullishness and durability of the bid for USTs even as the data has generally continued to perform well. We’re reminded of the time tested adage that resistance hardly holds on the third attempt, and will monitor the -112 bp line in the sand in 10-year real yields over the balance of the week.</p><p><blockquote>鉴于周四价值 160 亿美元的新一期 10 年期 TIPS 拍卖临近，雷亚尔的下跌更加值得注意。目前的估值表明，人们不仅越来越担心德尔塔变异毒株在国内的蔓延，而且更重要的是，对海外的蔓延也越来越担心。尽管曾经有一段时间，美国的利率格局完全由国内基本面决定，但经济和市场的全球化现在使国债收益率成为全球背景的函数。这有助于解释令人印象深刻的一轮看涨情绪和对 USTs 竞购的持久性，尽管数据总体上继续表现良好。我们想起了一句久经考验的格言，即阻力很难在第三次尝试中站稳脚跟，并将在本周剩余时间内监测 10 年期实际收益率的 -112 个基点线。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/behind-plunge-yields-growth-story-not-rethink-inflation?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/behind-plunge-yields-growth-story-not-rethink-inflation?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109861258","content_text":"In a notable turn of events, the overnight session saw an initial attempt at a modest reversal in the recent Treasury rally only to be met with further buying interest. The net result was a tick lower in 10-year yields that brought the benchmark to levels not seen since mid-February.\nWith the next technical target sill 5 bps away, we’ll be watching the interplay between risk assets and US rates as the delta-inspired repricing continues. We’re cognizant that the severity of the recent move has led to stretched momentum measures, implying incremental gains will be more difficult to achieve. This isn’t to suggest the floor for rates is evident at the moment, rather that it should be anticipated that the pace of the rally will slow.There has been plenty of chatter surrounding the possibility 10- year yields dip below 1.0%; an eventuality that would be a short-lived endeavor, but not one that’s off the table.More immediately however, will be gauging the extent to which rising case counts can carry yields even lower from here.\nIt would be an oversimplification to conclude this move is entirely a function of the economic risks posed by the reinstatement of covid-19 restrictions. In fact, we’ll argue the rally has been exaggerated by the Fed’s most recent efforts to be less dovish.Policymakers are in the pre-meeting radio period of radio silence; which eliminates the potential for any official commentary on the Fed’s take on the renewed pandemic risks. Moreover,it leaves investors operating under the assumption that 1) tapering is still on track, 2) rate hikes as early as next year could come to fruition, and 3) the Fed’s ‘will act if not transitory’ stance on inflation remains value. While these surely still hold true to some extent, the implied commitment may be waning given investors’ response to the recent covid developments.\nHeadlines this morning conclude ‘markets no longer worried about inflation’; a notion, which is ostensibly consistent with the price action in US rates, misses the mark.10-year breakevens are still at 225 bp and a distance away from the mid-June lows.In addition, rising supply-driven inflation that functions as a tax on consumption as opposed to a reflection of a healthy real economy creates downside risks for the recovery. When combined with concerns that H1 will represent the peak of the rebound, it follows intuitively that the market has moved on to trading the next stage in the cycle – i.e. recalibrating growth expectations in reflecting the new norm; one in which herd immunity will prove elusive and variant risks (delta and others) become an ongoing concern.A quick glance at real yields near -100 bp reinforces the read that this is a growth story, not a collective rethink of reflation.\nThere is yet another nuance of the price action that merits highlighting. Specifically, the move thus far has questionably been a flattening event as 10s and 30s outperform. The front end of the curve has benefited to a lesser extent as monetary policy expectations have remained in place.This morning however, we’re starting to see the 5-year sector lead the rally. In the event we’re seeing the transition from a longer-term growth story to further pricing out Fed tightening, this could ultimately serve to moderate the gains in 10s and 30s.This isn’t to suggest that less room for the FOMC to eventually normalize policy rates is a compelling reason to sell duration in the face of a resurgence of the pandemic. Instead, confidence that monetary policymakers won’t be so eager to respond to pockets of reflation given the renewed headwinds facing the global recovery\nWe’ll be tracking this particular evolution in the nature of the bullish repricing if, for no other reason,it will be instrumental in gauging what to anticipate in response to next week’s FOMC meeting and Powell’s press conference.Note that in light of the +8.1% consensus estimate for next week’s release of Q2 real GDP, there is little question that a strong rebound in H1 is priced in and investors have shifted toward trading the next stage in the recovery that contains far greater uncertainties.\nIf the move in real yields is any indication there is growing angst on the rebound; 10-year real rates reached their lowest level since early January and within striking distance of the cycle low at -112.4 bp.\nThe decline in reals is made all the more noteworthy given the proximity to Thursday’s $16 bn new issue 10-year TIPS auction. Current valuations demonstrate not only increasing worry on the spread of the delta variant domestically, but perhaps more consequentially, overseas. Whereas there was once a time when the US rates landscape was solely dictated by the domestic fundamentals, the globalization of the economy and markets now leave Treasury yields a function of the global backdrop. This helps account for the impressive round of bullishness and durability of the bid for USTs even as the data has generally continued to perform well. We’re reminded of the time tested adage that resistance hardly holds on the third attempt, and will monitor the -112 bp line in the sand in 10-year real yields over the balance of the week.","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806098206,"gmtCreate":1627614846005,"gmtModify":1633757742851,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Yes!","listText":"Yes!","text":"Yes!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806098206","repostId":"1153202474","repostType":4,"repost":{"id":"1153202474","kind":"news","pubTimestamp":1627614368,"share":"https://www.laohunote.com/m/news/1153202474?lang=zh_CN&edition=full","pubTime":"2021-07-30 11:06","market":"us","language":"en","title":"Big Oil Shows Confidence The Era of Large Profits Is Back<blockquote>大石油公司表现出信心，大利润时代又回来了</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1153202474","media":"Bloomberg","summary":"(Bloomberg) -- Europe’s largest oil and gas companies showed confidence that the era of big profits ","content":"<p><div> (Bloomberg) -- Europe’s largest oil and gas companies showed confidence that the era of big profits is back by significantly boosting returns to shareholders. Royal Dutch Shell Plc surprised investors...</p><p><blockquote><div>(彭博社）--欧洲最大的石油和天然气公司通过大幅提高股东回报，显示出高额利润时代回来的信心。荷兰皇家壳牌公司令投资者大吃一惊……</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">网页连接</a></blockquote></p><p></p>","source":"lsy1612507957220","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>Big Oil Shows Confidence The Era of Large Profits Is Back<blockquote>大石油公司表现出信心，大利润时代又回来了</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\">\nBig Oil Shows Confidence The Era of Large Profits Is Back<blockquote>大石油公司表现出信心，大利润时代又回来了</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-07-30 11:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> (Bloomberg) -- Europe’s largest oil and gas companies showed confidence that the era of big profits is back by significantly boosting returns to shareholders. Royal Dutch Shell Plc surprised investors...</p><p><blockquote><div>(彭博社）--欧洲最大的石油和天然气公司通过大幅提高股东回报，显示出高额利润时代回来的信心。荷兰皇家壳牌公司令投资者大吃一惊……</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RDS.A":"荷兰皇家壳牌石油A类股"},"source_url":"https://finance.yahoo.com/news/big-oil-shows-confidence-era-113603861.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153202474","content_text":"(Bloomberg) -- Europe’s largest oil and gas companies showed confidence that the era of big profits is back by significantly boosting returns to shareholders.\nRoyal Dutch Shell Plc surprised investors on Thursday with a dividend hike of almost 40% and $2 billion of share buybacks. TotalEnergies SE didn’t manage quite that level of shock and awe, but promised to divert as much as 40% of its surplus cash to stock repurchases.\nThis marks a major turnaround for the industry, which is trying to persuade investors to stick with it despite mounting concerns about climate change. Until recently, both companies were focused on paying down debt and strengthening their balance sheets in the aftermath of the oil slump caused by the coronavirus pandemic.\nWhat’s changed is a broad rally in commodity prices, in which the surge in crude has been matched or exceeded by natural gas, metals and other bulk raw materials. It’s not just Shell and Total returning money to shareholders, almost every natural resources group from Rio Tinto Plc to Anglo American Plc is either raising dividends or buying back shares.\n“We wanted to signal to the market the confidence that we have in cash flows,” Shell Chief Executive Officer Ben van Beurden said on a conference call. In the oil market “supply is going to be constrained and demand is actually quite strong.”\nShell and TotalEnergies both reported big surges in adjusted net income and cash flow for the second quarter, taking the figures back to pre-pandemic levels. That had been largely expected by analysts, but the big improvement in shareholder returns caught them by surprise.\n”We knew Shell was set to raise distributions today, but the scale of the increase is significantly above expectations,” Redburn analyst Stuart Joyner said in a note.\nShell has some catching up to do. Last year, it cut its dividend by two-thirds during the depths of the Covid-19 lockdowns. Modest increases to the payout since then did little to boost the company’s appeal, with its market value today still more than a third below pre-pandemic levels despite a full recovery in oil prices.\nTotal Energies, which entered the Covid-19 crisis with less debt and maintained its payout throughout the downturn, has fared better with investors. The French company may buy back as much as $800 million of its shares by the end of the year, assuming oil averages $66 a barrel, and as much as $1 billion if it averages $68, Chief Executive Officer Patrick Pouyanne said on a conference call.\nThe dividend will grow only when it’s backed by a “structural increase” in cash flow stemming from additional energy production and sales, Pouyanne said.\nOther European oil majors are taking a similar approach. BP Plc and Equinor ASA have already made incremental dividend increases and announced more modest buyback plans.\nWooing investors has seldom been more important for Big Oil. The industry is under increasing pressure to turn away from fossil fuels and embrace clean energy as the world grapples with the evident dangers of a warming planet. Most of the European majors have laid out broad plans to achieve net-zero emissions by the middle of the century, but there are questions about how much it will cost and whether profits from renewable energy can match oil and gas.\nThese doubts have weighed on the industry’s valuation, which overall is still 22% below its level at the end of 2019, said Banco Santander SA analyst Jason Kenney. A period of strong profits and cash flow will make it much easier for these companies to make the transition to clean energy while keeping investors on board.\n“The climate crisis requires significant investment to truly shift to low and no carbon energy,” Kenney said. “But there is a huge wall of cash on the horizon from integrated energy companies in the second half of 2021 and certainly by 2022. And financial frames look credible and attractive at current levels.”","news_type":1,"symbols_score_info":{"RDS.A":0.9}},"isVote":1,"tweetType":1,"viewCount":2274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802487896,"gmtCreate":1627796159715,"gmtModify":1633756283761,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Sept Oct are dangerous months","listText":"Sept Oct are dangerous months","text":"Sept Oct are dangerous months","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802487896","repostId":"1142925544","repostType":4,"repost":{"id":"1142925544","kind":"news","pubTimestamp":1627787240,"share":"https://www.laohunote.com/m/news/1142925544?lang=zh_CN&edition=full","pubTime":"2021-08-01 11:07","market":"us","language":"en","title":"Investors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142925544","media":"Barron's","summary":"“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970","content":"<p>“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970s, recalling pleasant times at the beach or by the barbecue. No need to remind anyone back then of droughts, wildfires, or Covid-19 surges that are unfortunate features of the steamy season this year.</p><p><blockquote>“是的，现在是夏天，我一年中的季节”，乐队高唱着 20 世纪 70 年代的金色老歌《夏天》，回忆起在海滩或烧烤旁的美好时光。当时没有必要提醒任何人干旱、野火或新冠肺炎激增，这些都是今年潮湿季节的不幸特征。</blockquote></p><p> But the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that theS&amp;P 500index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red.</p><p><blockquote>但根据美国银行分析师斯蒂芬·萨特迈尔 (Stephen Suttmeier) 编制的 1928 年数据，8 月的到来也意味着股市进入了历史上一年中最危险的时期。他发现，标准普尔 500 指数在 8 月、9 月和 10 月的平均回报率为 0.03%，这是该大型股基准指数一年中最糟糕的三个月。事实上，它们是唯一平均亏损的三个月时期。</blockquote></p><p> August actually is bracketed by the best and worst months of the year, he adds in a research note. July averages a 1.58% return on the S&amp;P 500, with positive results 59.1% of the time, while September averages a negative 1.03%, ending in the plus column less than half of the time, or 45%.</p><p><blockquote>他在一份研究报告中补充道，八月实际上是一年中最好和最差的月份。7 月份标普500的平均回报率为 1.58%，其中 59.1% 的时间为正面结果，而 9 月份的平均回报率为负 1.03%，不到一半的时间（即 45%）以正面结果结束。</blockquote></p><p> This July did even better than the norm, with the S&amp;P 500 gaining 2.27%. It also was the sixth consecutive up month for the index—the longest positive streak since September 2018, according to Dow Jones’ statistical mavens. During that period, its cumulative advance was 18.34%.</p><p><blockquote>今年7月的表现甚至好于正常水平，标普500上涨了2.27%。据道琼斯统计专家称，这也是该指数连续第六个月上涨，是自 2018 年 9 月以来最长的连涨。在此期间，其累计上涨18.34%。</blockquote></p><p> August’s record is in between, with an average 0.70% S&amp;P 500 return and positive results 58.1% of the time, marking a transition from the “summer rip” to the “fall dip.”</p><p><blockquote>8 月份的记录介于两者之间，平均标普500回报率为 0.70%，阳性结果率为 58.1%，标志着从 “夏季撕裂 ”到 “秋季下跌 ”的过渡。</blockquote></p><p> Not surprisingly, the laggard returns of the August-October period are accompanied by an uptick in volatility, Suttmeier finds. Based on records going back to 1992, theCboe Volatility Index,or VIX, has often seen spikes during those months, following relatively subdued volatility in the April-July period.</p><p><blockquote>Suttmeier 发现，毫不奇怪，8 月至 10 月期间的滞后回报伴随着波动性的上升。根据 1992 年的记录，继 4 月至 7 月期间波动性相对较低之后，ECBOE 波动率指数 (VIX) 在那几个月经常出现飙升。</blockquote></p><p> Past isn’t necessarily prologue, but if it is, the timing of the initial public offering byRobinhood Markets(ticker: HOOD) might prove propitious, if the stock market does have its typical seasonal rough patch. The online broker, whose putative mission is to open investing to novices supposedly ignored by established outfits, sold 55 million shares at $38 on Thursday. In the process, it provided a valuable lesson to all those who got in on the IPO: Buy low and sell high.</p><p><blockquote>过去不一定是序幕，但如果是序幕，那么如果股市确实经历了典型的季节性动荡时期，Robinhood Markets（股票代码：HOOD）首次公开募股的时机可能会被证明是有利的。这家在线经纪商的假定使命是向被老牌机构忽视的新手开放投资，周四以 38 美元的价格出售了 5500 万股股票。在这个过程中，它给所有进入IPO的人提供了宝贵的一课：低买高卖。</blockquote></p><p> The company evidently fulfilled the latter imperative, selling its shares high, even though they were priced at the low end of the expected $38-$42 range. Their price sank 8.4% on their first day of trading, although they recouped a bit on Friday. By week’s end, buyers of Robinhood’s IPO who held were down 7.5%.</p><p><blockquote>该公司显然满足了后一个要求，高价出售其股票，尽管它们的定价处于预期的 38-42 美元范围的低端。他们的价格在第一天交易中下跌了8.4%，尽管他们在周五有所回升。截至周末，持有 Robinhood IPO 的买家下跌了 7.5%。</blockquote></p><p> Among those who sold high were the company’s co-founders, CEO Vladimir Tenev and Chief Creative Officer Baiju Bhatt, who each offloaded 1.25 million shares in the IPO. As my illustrious predecessor, Alan Abelson, liked to observe, there are many good reasons to sell a stock, but expecting it to go up isn’t one of them. That has never been more true, given the ability of rich owners to monetize their assets by borrowing against them cheaply, and without incurring capital-gains taxes.</p><p><blockquote>公司联合创始人、首席执行官弗拉基米尔-特涅夫（Vladimir Tenev）和首席创意官拜朱-巴特（Baiju Bhatt）都在高价抛售，他们在首次公开募股中分别抛售了 125 万股股票。正如我杰出的前任艾伦-阿贝尔森（Alan Abelson）喜欢指出的那样，卖出股票有很多很好的理由，但预期股价上涨并不是其中之一。鉴于富裕的所有者有能力通过廉价借款来将其资产货币化，而且无需缴纳资本利得税，这一点从未如此真实。</blockquote></p><p> To be sure, Tenev and Bhatt still have significant stakes in Robinhood. Asour colleague Avi Salzman reported, these were worth $2.5 billion at the initial offering price, and Tenev and Bhatt retain voting control. The two also could receive awards of shares worth as much as $6.7 billion for Tenev and $4 billion for Bhatt, if the stock hits $300, or nearly the proverbial ten-bagger from here.</p><p><blockquote>可以肯定的是，Tenev 和 Bhatt 仍然持有 Robinhood 的重大股份。Asour 的同事 Avi Salzman 报道称，这些股票按首次发行价计算价值 25 亿美元，Tenev 和 Bhatt 保留投票控制权。如果股价达到 300 美元，两人还可以获得 Tenev 价值高达 67 亿美元的股票奖励，Bhatt 价值高达 40 亿美元的股票奖励，或者接近众所周知的十袋大亨。</blockquote></p><p> But in a blow against income inequality, the potential billionaire pair took symbolic pay cuts, to $34,248, the average annual wage of American workers. As the comedian Yakov Smirnoff likes to say, “What a country!”</p><p><blockquote>但为了打击收入不平等，这对潜在的亿万富翁夫妇象征性地减薪，美国工人的平均年薪降至 34,248 美元。正如喜剧演员雅科夫-斯米尔诺夫（Yakov Smirnoff）喜欢说的那样：“多么美好的国家啊!”</blockquote></p><p> How those workers are faring will be a subject of the monthly employment report slated for release this coming Friday.</p><p><blockquote>这些工人的情况将是定于本周五发布的月度就业报告的主题。</blockquote></p><p> Economists’ forecasts for nonfarm payrolls center around a gain of 900,000. Jefferies economists Aneta Markowska and Thomas Simons estimate that the increase could top the long-anticipated one million mark; they forecast 1.2 million.</p><p><blockquote>经济学家对非农就业人数的预测集中在增加 90 万人左右。Jefferies 经济学家 Aneta Markowska 和 Thomas Simons 估计，这一增幅可能会超过人们期待已久的 100 万大关；他们预测120万。</blockquote></p><p> Markowska and Simons think the expiration of supplemental unemployment benefits in some states will boost the labor supply, although that is a matter of significant debate. (For more on the jobs market, seethis week’s cover story.)</p><p><blockquote>Markowska和Simons认为，一些州补充失业救济金的到期将增加劳动力供应，尽管这是一个有争议的问题。(有关就业市场的更多信息，请参阅本周的封面故事）。</blockquote></p><p></p>","source":"lsy1610680873436","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>Investors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</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\">\nInvestors, Beware! Stocks Are Entering the Most Dangerous Stretch of the Year<blockquote>投资者小心!股市正在进入一年中最危险的时期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-08-01 11:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970s, recalling pleasant times at the beach or by the barbecue. No need to remind anyone back then of droughts, wildfires, or Covid-19 surges that are unfortunate features of the steamy season this year.</p><p><blockquote>“是的，现在是夏天，我一年中的季节”，乐队高唱着 20 世纪 70 年代的金色老歌《夏天》，回忆起在海滩或烧烤旁的美好时光。当时没有必要提醒任何人干旱、野火或新冠肺炎激增，这些都是今年潮湿季节的不幸特征。</blockquote></p><p> But the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that theS&amp;P 500index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red.</p><p><blockquote>但根据美国银行分析师斯蒂芬·萨特迈尔 (Stephen Suttmeier) 编制的 1928 年数据，8 月的到来也意味着股市进入了历史上一年中最危险的时期。他发现，标准普尔 500 指数在 8 月、9 月和 10 月的平均回报率为 0.03%，这是该大型股基准指数一年中最糟糕的三个月。事实上，它们是唯一平均亏损的三个月时期。</blockquote></p><p> August actually is bracketed by the best and worst months of the year, he adds in a research note. July averages a 1.58% return on the S&amp;P 500, with positive results 59.1% of the time, while September averages a negative 1.03%, ending in the plus column less than half of the time, or 45%.</p><p><blockquote>他在一份研究报告中补充道，八月实际上是一年中最好和最差的月份。7 月份标普500的平均回报率为 1.58%，其中 59.1% 的时间为正面结果，而 9 月份的平均回报率为负 1.03%，不到一半的时间（即 45%）以正面结果结束。</blockquote></p><p> This July did even better than the norm, with the S&amp;P 500 gaining 2.27%. It also was the sixth consecutive up month for the index—the longest positive streak since September 2018, according to Dow Jones’ statistical mavens. During that period, its cumulative advance was 18.34%.</p><p><blockquote>今年7月的表现甚至好于正常水平，标普500上涨了2.27%。据道琼斯统计专家称，这也是该指数连续第六个月上涨，是自 2018 年 9 月以来最长的连涨。在此期间，其累计上涨18.34%。</blockquote></p><p> August’s record is in between, with an average 0.70% S&amp;P 500 return and positive results 58.1% of the time, marking a transition from the “summer rip” to the “fall dip.”</p><p><blockquote>8 月份的记录介于两者之间，平均标普500回报率为 0.70%，阳性结果率为 58.1%，标志着从 “夏季撕裂 ”到 “秋季下跌 ”的过渡。</blockquote></p><p> Not surprisingly, the laggard returns of the August-October period are accompanied by an uptick in volatility, Suttmeier finds. Based on records going back to 1992, theCboe Volatility Index,or VIX, has often seen spikes during those months, following relatively subdued volatility in the April-July period.</p><p><blockquote>Suttmeier 发现，毫不奇怪，8 月至 10 月期间的滞后回报伴随着波动性的上升。根据 1992 年的记录，继 4 月至 7 月期间波动性相对较低之后，ECBOE 波动率指数 (VIX) 在那几个月经常出现飙升。</blockquote></p><p> Past isn’t necessarily prologue, but if it is, the timing of the initial public offering byRobinhood Markets(ticker: HOOD) might prove propitious, if the stock market does have its typical seasonal rough patch. The online broker, whose putative mission is to open investing to novices supposedly ignored by established outfits, sold 55 million shares at $38 on Thursday. In the process, it provided a valuable lesson to all those who got in on the IPO: Buy low and sell high.</p><p><blockquote>过去不一定是序幕，但如果是序幕，那么如果股市确实经历了典型的季节性动荡时期，Robinhood Markets（股票代码：HOOD）首次公开募股的时机可能会被证明是有利的。这家在线经纪商的假定使命是向被老牌机构忽视的新手开放投资，周四以 38 美元的价格出售了 5500 万股股票。在这个过程中，它给所有进入IPO的人提供了宝贵的一课：低买高卖。</blockquote></p><p> The company evidently fulfilled the latter imperative, selling its shares high, even though they were priced at the low end of the expected $38-$42 range. Their price sank 8.4% on their first day of trading, although they recouped a bit on Friday. By week’s end, buyers of Robinhood’s IPO who held were down 7.5%.</p><p><blockquote>该公司显然满足了后一个要求，高价出售其股票，尽管它们的定价处于预期的 38-42 美元范围的低端。他们的价格在第一天交易中下跌了8.4%，尽管他们在周五有所回升。截至周末，持有 Robinhood IPO 的买家下跌了 7.5%。</blockquote></p><p> Among those who sold high were the company’s co-founders, CEO Vladimir Tenev and Chief Creative Officer Baiju Bhatt, who each offloaded 1.25 million shares in the IPO. As my illustrious predecessor, Alan Abelson, liked to observe, there are many good reasons to sell a stock, but expecting it to go up isn’t one of them. That has never been more true, given the ability of rich owners to monetize their assets by borrowing against them cheaply, and without incurring capital-gains taxes.</p><p><blockquote>公司联合创始人、首席执行官弗拉基米尔-特涅夫（Vladimir Tenev）和首席创意官拜朱-巴特（Baiju Bhatt）都在高价抛售，他们在首次公开募股中分别抛售了 125 万股股票。正如我杰出的前任艾伦-阿贝尔森（Alan Abelson）喜欢指出的那样，卖出股票有很多很好的理由，但预期股价上涨并不是其中之一。鉴于富裕的所有者有能力通过廉价借款来将其资产货币化，而且无需缴纳资本利得税，这一点从未如此真实。</blockquote></p><p> To be sure, Tenev and Bhatt still have significant stakes in Robinhood. Asour colleague Avi Salzman reported, these were worth $2.5 billion at the initial offering price, and Tenev and Bhatt retain voting control. The two also could receive awards of shares worth as much as $6.7 billion for Tenev and $4 billion for Bhatt, if the stock hits $300, or nearly the proverbial ten-bagger from here.</p><p><blockquote>可以肯定的是，Tenev 和 Bhatt 仍然持有 Robinhood 的重大股份。Asour 的同事 Avi Salzman 报道称，这些股票按首次发行价计算价值 25 亿美元，Tenev 和 Bhatt 保留投票控制权。如果股价达到 300 美元，两人还可以获得 Tenev 价值高达 67 亿美元的股票奖励，Bhatt 价值高达 40 亿美元的股票奖励，或者接近众所周知的十袋大亨。</blockquote></p><p> But in a blow against income inequality, the potential billionaire pair took symbolic pay cuts, to $34,248, the average annual wage of American workers. As the comedian Yakov Smirnoff likes to say, “What a country!”</p><p><blockquote>但为了打击收入不平等，这对潜在的亿万富翁夫妇象征性地减薪，美国工人的平均年薪降至 34,248 美元。正如喜剧演员雅科夫-斯米尔诺夫（Yakov Smirnoff）喜欢说的那样：“多么美好的国家啊!”</blockquote></p><p> How those workers are faring will be a subject of the monthly employment report slated for release this coming Friday.</p><p><blockquote>这些工人的情况将是定于本周五发布的月度就业报告的主题。</blockquote></p><p> Economists’ forecasts for nonfarm payrolls center around a gain of 900,000. Jefferies economists Aneta Markowska and Thomas Simons estimate that the increase could top the long-anticipated one million mark; they forecast 1.2 million.</p><p><blockquote>经济学家对非农就业人数的预测集中在增加 90 万人左右。Jefferies 经济学家 Aneta Markowska 和 Thomas Simons 估计，这一增幅可能会超过人们期待已久的 100 万大关；他们预测120万。</blockquote></p><p> Markowska and Simons think the expiration of supplemental unemployment benefits in some states will boost the labor supply, although that is a matter of significant debate. (For more on the jobs market, seethis week’s cover story.)</p><p><blockquote>Markowska和Simons认为，一些州补充失业救济金的到期将增加劳动力供应，尽管这是一个有争议的问题。(有关就业市场的更多信息，请参阅本周的封面故事）。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-news-robinhood-sp500-51627692215?mod=hp_LATEST\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.barrons.com/articles/stocks-news-robinhood-sp500-51627692215?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142925544","content_text":"“Yes, it’s summer, my time of year,”as the group War sangin that golden oldie “Summer” from the 1970s, recalling pleasant times at the beach or by the barbecue. No need to remind anyone back then of droughts, wildfires, or Covid-19 surges that are unfortunate features of the steamy season this year.\nBut the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that theS&P 500index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red.\nAugust actually is bracketed by the best and worst months of the year, he adds in a research note. July averages a 1.58% return on the S&P 500, with positive results 59.1% of the time, while September averages a negative 1.03%, ending in the plus column less than half of the time, or 45%.\nThis July did even better than the norm, with the S&P 500 gaining 2.27%. It also was the sixth consecutive up month for the index—the longest positive streak since September 2018, according to Dow Jones’ statistical mavens. During that period, its cumulative advance was 18.34%.\nAugust’s record is in between, with an average 0.70% S&P 500 return and positive results 58.1% of the time, marking a transition from the “summer rip” to the “fall dip.”\nNot surprisingly, the laggard returns of the August-October period are accompanied by an uptick in volatility, Suttmeier finds. Based on records going back to 1992, theCboe Volatility Index,or VIX, has often seen spikes during those months, following relatively subdued volatility in the April-July period.\nPast isn’t necessarily prologue, but if it is, the timing of the initial public offering byRobinhood Markets(ticker: HOOD) might prove propitious, if the stock market does have its typical seasonal rough patch. The online broker, whose putative mission is to open investing to novices supposedly ignored by established outfits, sold 55 million shares at $38 on Thursday. In the process, it provided a valuable lesson to all those who got in on the IPO: Buy low and sell high.\nThe company evidently fulfilled the latter imperative, selling its shares high, even though they were priced at the low end of the expected $38-$42 range. Their price sank 8.4% on their first day of trading, although they recouped a bit on Friday. By week’s end, buyers of Robinhood’s IPO who held were down 7.5%.\nAmong those who sold high were the company’s co-founders, CEO Vladimir Tenev and Chief Creative Officer Baiju Bhatt, who each offloaded 1.25 million shares in the IPO. As my illustrious predecessor, Alan Abelson, liked to observe, there are many good reasons to sell a stock, but expecting it to go up isn’t one of them. That has never been more true, given the ability of rich owners to monetize their assets by borrowing against them cheaply, and without incurring capital-gains taxes.\nTo be sure, Tenev and Bhatt still have significant stakes in Robinhood. Asour colleague Avi Salzman reported, these were worth $2.5 billion at the initial offering price, and Tenev and Bhatt retain voting control. The two also could receive awards of shares worth as much as $6.7 billion for Tenev and $4 billion for Bhatt, if the stock hits $300, or nearly the proverbial ten-bagger from here.\nBut in a blow against income inequality, the potential billionaire pair took symbolic pay cuts, to $34,248, the average annual wage of American workers. As the comedian Yakov Smirnoff likes to say, “What a country!”\nHow those workers are faring will be a subject of the monthly employment report slated for release this coming Friday.\nEconomists’ forecasts for nonfarm payrolls center around a gain of 900,000. Jefferies economists Aneta Markowska and Thomas Simons estimate that the increase could top the long-anticipated one million mark; they forecast 1.2 million.\nMarkowska and Simons think the expiration of supplemental unemployment benefits in some states will boost the labor supply, although that is a matter of significant debate. (For more on the jobs market, seethis week’s cover story.)","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4228,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802628828,"gmtCreate":1627778069664,"gmtModify":1633756548539,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Another catie woods","listText":"Another catie woods","text":"Another catie woods","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802628828","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohunote.com/m/news/1147779023?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>","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>You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</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\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3648,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802197593,"gmtCreate":1627729425112,"gmtModify":1633756764891,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802197593","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":5013,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176265692,"gmtCreate":1626890551716,"gmtModify":1633770049716,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/176265692","repostId":"1148130964","repostType":4,"isVote":1,"tweetType":1,"viewCount":945,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809625030,"gmtCreate":1627367519520,"gmtModify":1633765669629,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Another crackdown day…..&nbsp;","listText":"Another crackdown day…..&nbsp;","text":"Another crackdown day…..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809625030","repostId":"2154993011","repostType":4,"isVote":1,"tweetType":1,"viewCount":4437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809820450,"gmtCreate":1627359026770,"gmtModify":1633765738031,"author":{"id":"3558916124332072","authorId":"3558916124332072","name":"AOT_CPT_SAWI","avatar":"https://static.tigerbbs.com/f2e0f3a489595b07fb9fae8e74a225a5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558916124332072","authorIdStr":"3558916124332072"},"themes":[],"title":"","htmlText":"Strong or weak close?","listText":"Strong or weak close?","text":"Strong or weak close?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809820450","repostId":"2154964378","repostType":4,"isVote":1,"tweetType":1,"viewCount":947,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}