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2021-05-21

Ok

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2021-05-19

Ok

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2021-05-18

Cool

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2021-05-18

Yes!

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2021-05-17

Go! Go!

AMC Entertainment stock surged 8% in Monday morning trading<blockquote>AMC院线股价周一早盘飙升8%</blockquote>

2021-03-07

Gg

'A side of shares': Deliveroo to offer 50 million pounds of stock to customers<blockquote>“股票的一面”：户户送将向客户提供5000万英镑的股票</blockquote>

2021-02-09

Go Eth.

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2021-02-09

Yes

Individual investors are back — here’s what it means for the stock market<blockquote>个人投资者回来了——这对股市意味着什么</blockquote>

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Go!","listText":"Go! Go!","text":"Go! Go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/195159720","repostId":"1194288202","repostType":2,"repost":{"id":"1194288202","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":1621259224,"share":"https://www.laohu8.com/m/news/1194288202?lang=zh_CN&edition=full","pubTime":"2021-05-17 21:47","market":"us","language":"en","title":"AMC Entertainment stock surged 8% in Monday morning trading<blockquote>AMC院线股价周一早盘飙升8%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194288202","media":"Tiger Newspress","summary":"AMC Entertainment stock surged 8% in Monday morning trading, toward 7th straight gain.","content":"<p>AMC Entertainment stock surged 8% in Monday morning trading, toward 7th straight gain.</p><p><blockquote>AMC院线股价在周一早盘交易中飙升8%，连续第七次上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2f4d6854c15140b5780465402db3c8c5\" tg-width=\"840\" tg-height=\"470\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Entertainment stock surged 8% in Monday morning trading<blockquote>AMC院线股价周一早盘飙升8%</blockquote></title>\n<style 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC Entertainment stock surged 8% in Monday morning trading<blockquote>AMC院线股价周一早盘飙升8%</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\">2021-05-17 21:47</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMC Entertainment stock surged 8% in Monday morning trading, toward 7th straight gain.</p><p><blockquote>AMC院线股价在周一早盘交易中飙升8%，连续第七次上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2f4d6854c15140b5780465402db3c8c5\" tg-width=\"840\" tg-height=\"470\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194288202","content_text":"AMC Entertainment stock surged 8% in Monday morning trading, toward 7th straight 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</p><p><blockquote><html><body>路透伦敦3月7日-户户送表示，价值5000万英镑（合6900万美元）的股票将在即将到来的上市中专门提供给客户，该要约被称为“带有股票一面的美食”。</body></html></blockquote></p><p>   The Amazon-backed food delivery firm announced plans on Thursday to list in London, with a potential value of $7 billion making it the biggest market debut in Britain for three years.</p><p><blockquote>这家亚马逊支持的食品配送公司周四宣布计划在伦敦上市，潜在价值为70亿美元，成为英国三年来最大的上市。</blockquote></p><p>   Founder and chief executive Will Shu said Deliveroo's customers had supported the firm's growth and he wanted to give them the chance to share in the next stage of its journey. </p><p><blockquote>创始人兼首席执行官威尔·舒(Will Shu)表示，户户送的客户支持了公司的发展，他希望让他们有机会分享公司下一阶段的旅程。</blockquote></p><p>   \"Far too often, normal people are locked out of IPOs, and the only participants are the institutional investors,\" he said on Sunday. </p><p><blockquote>“很多时候，普通人被排除在IPO之外，唯一的参与者是机构投资者，”他周日表示。</blockquote></p><p>   \"I wanted to give as many customers as possible the chance to become shareholders, which is why we're making 50 million pounds of shares available to them, alongside our restaurant partners and riders.\"</p><p><blockquote>“我想让尽可能多的顾客有机会成为股东，这就是为什么我们向他们以及我们的餐厅合作伙伴和乘客提供5000万英镑的股票。”</blockquote></p><p>   Deliveroo said any customer who had placed an order would be able to register their interest via the company's app from Monday.</p><p><blockquote>户户送表示，从周一开始，任何下订单的客户都可以通过该公司的应用程序注册他们的兴趣。</blockquote></p><p>   Each would be able to apply for up to 1,000 pounds of shares, it said, adding that loyal customers would be prioritised if the offer were oversubscribed.</p><p><blockquote>该公司表示，每个人都可以申请最多1,000英镑的股票，并补充说，如果要约被超额认购，忠诚的客户将被优先考虑。</blockquote></p><p>   Russ Mould, investment director at online platform AJ Bell, said a year of lockdowns had fuelled demand for companies like Deliveroo and there was an expectation that habits formed during the pandemic would remain long into the recovery.</p><p><blockquote>在线平台AJ Bell投资总监Russ Mould表示，一年的封锁刺激了对户户送等公司的需求，人们预计疫情期间形成的习惯将在复苏后长期存在。</blockquote></p><p>   \"All this suggests there is likely to be a bun fight for the 50 million pounds worth of customer shares in Deliveroo at the IPO offer,\" he said.</p><p><blockquote>他表示：“所有这些都表明，在IPO要约中，户户送价值5000万英镑的客户股票可能会出现一场争夺。”</blockquote></p><p>   Deliveroo said it would also recognise the role played by its delivery riders in its success with a 16 million pound reward programme to be launched on the day of listing.</p><p><blockquote>户户送表示，还将在上市当天推出1600万英镑的奖励计划，以表彰其外卖骑手在其成功中所发挥的作用。</blockquote></p><p>   Cash rewards from 10,000 pounds to 200 pounds will be available to riders in Deliveroo's 21 markets based on the number of orders delivered. It said the average per eligible rider would be 440 pounds. ($1 = 0.7225 pounds)</p><p><blockquote>根据交付的订单数量，户户送21个市场的骑手将获得10,000英镑至200英镑的现金奖励。据称，每位符合条件的骑手的平均体重为440磅。（1美元=0.7225英镑）</blockquote></p><p> (Reporting by Paul Sandle; Editing by Christina Fincher)</p><p><blockquote>（保罗·桑德尔报道；克里斯蒂娜·芬奇编辑）</blockquote></p><p>((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))</p><p><blockquote>（（paul.sandle@thomsonreuters.com；+44 20 754 2 684 3；路透社消息：paul.sandle.thomsonreuters.com@reuters.net））</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'A side of shares': Deliveroo to offer 50 million pounds of stock to customers<blockquote>“股票的一面”：户户送将向客户提供5000万英镑的股票</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\">\n'A side of shares': Deliveroo to offer 50 million pounds of stock to customers<blockquote>“股票的一面”：户户送将向客户提供5000万英镑的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2021-03-07 08:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><body>LONDON, March 7 (Reuters) - Deliveroo said shares worth 50 million pounds ($69 million) would be earmarked for customers in its upcoming flotation, with the offer branded \"Great food with a side of shares\". </p><p><blockquote><html><body>路透伦敦3月7日-户户送表示，价值5000万英镑（合6900万美元）的股票将在即将到来的上市中专门提供给客户，该要约被称为“带有股票一面的美食”。</body></html></blockquote></p><p>   The Amazon-backed food delivery firm announced plans on Thursday to list in London, with a potential value of $7 billion making it the biggest market debut in Britain for three years.</p><p><blockquote>这家亚马逊支持的食品配送公司周四宣布计划在伦敦上市，潜在价值为70亿美元，成为英国三年来最大的上市。</blockquote></p><p>   Founder and chief executive Will Shu said Deliveroo's customers had supported the firm's growth and he wanted to give them the chance to share in the next stage of its journey. </p><p><blockquote>创始人兼首席执行官威尔·舒(Will Shu)表示，户户送的客户支持了公司的发展，他希望让他们有机会分享公司下一阶段的旅程。</blockquote></p><p>   \"Far too often, normal people are locked out of IPOs, and the only participants are the institutional investors,\" he said on Sunday. </p><p><blockquote>“很多时候，普通人被排除在IPO之外，唯一的参与者是机构投资者，”他周日表示。</blockquote></p><p>   \"I wanted to give as many customers as possible the chance to become shareholders, which is why we're making 50 million pounds of shares available to them, alongside our restaurant partners and riders.\"</p><p><blockquote>“我想让尽可能多的顾客有机会成为股东，这就是为什么我们向他们以及我们的餐厅合作伙伴和乘客提供5000万英镑的股票。”</blockquote></p><p>   Deliveroo said any customer who had placed an order would be able to register their interest via the company's app from Monday.</p><p><blockquote>户户送表示，从周一开始，任何下订单的客户都可以通过该公司的应用程序注册他们的兴趣。</blockquote></p><p>   Each would be able to apply for up to 1,000 pounds of shares, it said, adding that loyal customers would be prioritised if the offer were oversubscribed.</p><p><blockquote>该公司表示，每个人都可以申请最多1,000英镑的股票，并补充说，如果要约被超额认购，忠诚的客户将被优先考虑。</blockquote></p><p>   Russ Mould, investment director at online platform AJ Bell, said a year of lockdowns had fuelled demand for companies like Deliveroo and there was an expectation that habits formed during the pandemic would remain long into the recovery.</p><p><blockquote>在线平台AJ Bell投资总监Russ Mould表示，一年的封锁刺激了对户户送等公司的需求，人们预计疫情期间形成的习惯将在复苏后长期存在。</blockquote></p><p>   \"All this suggests there is likely to be a bun fight for the 50 million pounds worth of customer shares in Deliveroo at the IPO offer,\" he said.</p><p><blockquote>他表示：“所有这些都表明，在IPO要约中，户户送价值5000万英镑的客户股票可能会出现一场争夺。”</blockquote></p><p>   Deliveroo said it would also recognise the role played by its delivery riders in its success with a 16 million pound reward programme to be launched on the day of listing.</p><p><blockquote>户户送表示，还将在上市当天推出1600万英镑的奖励计划，以表彰其外卖骑手在其成功中所发挥的作用。</blockquote></p><p>   Cash rewards from 10,000 pounds to 200 pounds will be available to riders in Deliveroo's 21 markets based on the number of orders delivered. It said the average per eligible rider would be 440 pounds. ($1 = 0.7225 pounds)</p><p><blockquote>根据交付的订单数量，户户送21个市场的骑手将获得10,000英镑至200英镑的现金奖励。据称，每位符合条件的骑手的平均体重为440磅。（1美元=0.7225英镑）</blockquote></p><p> (Reporting by Paul Sandle; Editing by Christina Fincher)</p><p><blockquote>（保罗·桑德尔报道；克里斯蒂娜·芬奇编辑）</blockquote></p><p>((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))</p><p><blockquote>（（paul.sandle@thomsonreuters.com；+44 20 754 2 684 3；路透社消息：paul.sandle.thomsonreuters.com@reuters.net））</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","09086":"华夏纳指-U","AMZN":"亚马逊","03086":"华夏纳指"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2117655429","content_text":"LONDON, March 7 (Reuters) - Deliveroo said shares worth 50 million pounds ($69 million) would be earmarked for customers in its upcoming flotation, with the offer branded \"Great food with a side of shares\".    The Amazon-backed food delivery firm announced plans on Thursday to list in London, with a potential value of $7 billion making it the biggest market debut in Britain for three years.   Founder and chief executive Will Shu said Deliveroo's customers had supported the firm's growth and he wanted to give them the chance to share in the next stage of its journey.    \"Far too often, normal people are locked out of IPOs, and the only participants are the institutional investors,\" he said on Sunday.    \"I wanted to give as many customers as possible the chance to become shareholders, which is why we're making 50 million pounds of shares available to them, alongside our restaurant partners and riders.\"   Deliveroo said any customer who had placed an order would be able to register their interest via the company's app from Monday.   Each would be able to apply for up to 1,000 pounds of shares, it said, adding that loyal customers would be prioritised if the offer were oversubscribed.   Russ Mould, investment director at online platform AJ Bell, said a year of lockdowns had fuelled demand for companies like Deliveroo and there was an expectation that habits formed during the pandemic would remain long into the recovery.   \"All this suggests there is likely to be a bun fight for the 50 million pounds worth of customer shares in Deliveroo at the IPO offer,\" he said.   Deliveroo said it would also recognise the role played by its delivery riders in its success with a 16 million pound reward programme to be launched on the day of listing.   Cash rewards from 10,000 pounds to 200 pounds will be available to riders in Deliveroo's 21 markets based on the number of orders delivered. It said the average per eligible rider would be 440 pounds. ($1 = 0.7225 pounds) (Reporting by Paul Sandle; Editing by Christina Fincher)((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))","news_type":1,"symbols_score_info":{"QNETCN":0.6,"AMZN":0.9,"03086":0.6,"09086":0.6}},"isVote":1,"tweetType":1,"viewCount":1518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383946080,"gmtCreate":1612833236240,"gmtModify":1703765602411,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3562143440499298","authorIdStr":"3562143440499298"},"themes":[],"htmlText":"Go Eth.","listText":"Go Eth.","text":"Go Eth.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/383946080","repostId":"1133468331","repostType":4,"isVote":1,"tweetType":1,"viewCount":3013,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383948363,"gmtCreate":1612833193052,"gmtModify":1703765600689,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3562143440499298","authorIdStr":"3562143440499298"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/383948363","repostId":"1105339151","repostType":4,"repost":{"id":"1105339151","kind":"news","pubTimestamp":1612778898,"share":"https://www.laohu8.com/m/news/1105339151?lang=zh_CN&edition=full","pubTime":"2021-02-08 18:08","market":"us","language":"en","title":"Individual investors are back — here’s what it means for the stock market<blockquote>个人投资者回来了——这对股市意味着什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105339151","media":"MarketWatch","summary":"There’s more to the retail revival than GameStop\nLook who’s back.\nAfter a long absence, active indiv","content":"<p>There’s more to the retail revival than GameStop</p><p><blockquote>零售业的复兴不仅仅是游戏驿站</blockquote></p><p> Look who’s back.</p><p><blockquote>看看谁回来了。</blockquote></p><p> After a long absence, active individual investors have returned. While breakneck and foolhardy trading activity in shares of GameStop Corp.GME,+19.20%has dominated the headlines, unanswered questions remain as to whether a broader resurgence in retail trading will last and what it will mean for the stock market as U.S. benchmark indexes march to all-time highs.</p><p><blockquote>久违之后，活跃的个人投资者又回来了。尽管游戏驿站公司GME(+19.20%)股票的极快和鲁莽的交易活动占据了头条新闻，但零售交易的更广泛复苏是否会持续，以及随着美国基准指数的上涨，这对股市意味着什么，这些问题仍然悬而未决。三月创下历史新高。</blockquote></p><p> <b>The comeback</b></p><p><blockquote><b>复出</b></blockquote></p><p> It’s been a long time coming.</p><p><blockquote>已经等了很久了。</blockquote></p><p> The stock market put in a historic rally over the past decade “without any prominent retail interest in it,” said Chris Konstantinos, chief investment strategist at RiverFront Investment Group, in an interview.</p><p><blockquote>RiverFront Investment Group首席投资策略师克里斯·康斯坦丁诺斯(Chris Konstantinos)在接受采访时表示，过去十年股市出现了历史性反弹，“但散户对此没有任何明显的兴趣”。</blockquote></p><p> He noted that total bond fund flows have outpaced stock flows by nearly $3 trillion since 2007. In fact, individual investors appeared interested in almost anything else, from real estate to cryptocurrencies, Konstantinos said.</p><p><blockquote>他指出，自2007年以来，债券资金流量总额已超过股票流量近3万亿美元。康斯坦丁诺斯表示，事实上，个人投资者似乎对从房地产到加密货币的几乎所有其他东西都感兴趣。</blockquote></p><p> A shift got under way last year as the coronavirus pandemic took hold. Sequential growth in accounts at brokers such as Charles Schwab Corp.SCHW,+0.98%that cater to individual investors “was remarkable” at the end of the second quarter of 2020 and was followed by a major surge in growth in the following quarter, said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, in a Feb. 2 note.</p><p><blockquote>去年，随着冠状病毒大流行的蔓延，一种转变开始了。Lori表示，2020年第二季度末，嘉信理财(Charles Schwab Corp.SCHW,+0.98%等迎合个人投资者的经纪商的账户环比增长“令人瞩目”，随后在接下来的一个季度出现大幅增长。加拿大皇家银行资本市场美国股票策略主管卡尔瓦西纳(Lori Calvasina)在2月2日的一份报告中。</blockquote></p><p> At the same time Google searches for “day trading” were also on the rise, she noted (see charts below).</p><p><blockquote>她指出，与此同时，谷歌上“日内交易”的搜索量也在上升（见下图）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abaf0f0e954b8c180c43870b72f55252\" tg-width=\"1260\" tg-height=\"655\"><span>RBC CAPITAL MARKETS</span></p><p><blockquote><p class=\"t-img-caption\"><span>加拿大皇家银行资本市场</span></p></blockquote></p><p> Calvasina and others acknowledged that a combination of lockdown-related boredom and stimulus checks from the U.S. government likely played a role in the uptick in individual investing interest.</p><p><blockquote>卡尔瓦西纳和其他人承认，与封锁相关的无聊和美国政府的刺激检查的结合可能在个人投资兴趣的上升中发挥了作用。</blockquote></p><p> The jury is out on whether that enthusiasm will endure, said Ed Clissold, chief U.S. strategist at Ned Davis Research Group, in an interview. It’s unclear how much of the pickup in retail trading merely reflects individuals throwing extra money via stimulus checks at the market, he said.</p><p><blockquote>Ned Davis Research Group首席美国策略师Ed Clissold在接受采访时表示，这种热情是否会持续还没有定论。他说，目前尚不清楚零售交易的回升有多少仅仅反映了个人通过刺激支票向市场投入额外资金。</blockquote></p><p> That sort of trading feels more like gambling than investing, he said, noting that “frothy” market action tends to fade quickly away.</p><p><blockquote>他说，这种交易感觉更像是赌博而不是投资，并指出“泡沫”市场行为往往会很快消失。</blockquote></p><p> No doubt, day traders who jumped on the GameStop rally in a big way and listened to pleas on Reddit’s WallStreetBets forum to hold the line were left to suffer ugly losses. Some market watchers fear that the bubble-like activity in so-called meme stocks could end up scaring away individual investors, nipping any resurgence in the bud.</p><p><blockquote>毫无疑问，那些在游戏驿站反弹中大举买入并听取Reddit WallStreetBets论坛上坚持己见的日内交易者将遭受惨重的损失。一些市场观察人士担心，所谓模因股票的泡沫般的活动最终可能会吓跑个人投资者，将任何复苏扼杀在萌芽状态。</blockquote></p><p> But others argued that many individual investors, whose ranks aren’t made up soley of rapid-fire day traders, were likely to stick around.</p><p><blockquote>但其他人则认为，许多个人投资者可能会留下来，他们的队伍不仅仅是快速的日内交易者。</blockquote></p><p> <b>‘Structural change’</b></p><p><blockquote><b>“结构性变化”</b></blockquote></p><p> Calvasina said RBC suspects a “structural change may be afoot and that retail investors are likely to remain bigger players in the U.S. equity market going forward.”</p><p><blockquote>卡尔瓦西纳表示，加拿大皇家银行怀疑“结构性变化可能正在发生，散户投资者未来可能仍将是美国股市中更大的参与者。”</blockquote></p><p> If so, that will require an attitude adjustment by Wall Street pros, who got used to paying little attention to individual investors.</p><p><blockquote>如果是这样，这将需要华尔街专业人士调整态度，他们习惯于很少关注个人投资者。</blockquote></p><p> After all, powerful waves of passive and systematic investment had rendered individual investors largely irrelevant to analysts cooking up market forecasts, wrote strategists at Société Générale, in a Thursday note.</p><p><blockquote>法国兴业银行策略师在周四的一份报告中写道，毕竟，强大的被动和系统性投资浪潮使个人投资者在很大程度上与分析师炮制市场预测无关。</blockquote></p><p> But the market volatility created by the GameStop situation served as a wake-up call, the analysts said.</p><p><blockquote>但分析师表示，游戏驿站局势造成的市场波动是一个唤醒看涨期权。</blockquote></p><p> While GameStop and other heavily shorted names soared, hedge funds and other investors were seen liquidating long positions elsewhere, to take profits and cover losses, putting pressure on equities markets. Major benchmarks ended January on a sour note, with the Dow Jones Industrial AverageDJIA,+0.30%,S&amp;P 500SPX,+0.39%and Nasdaq CompositeCOMP,+0.57%logging their largest weekly declines since October.</p><p><blockquote>尽管游戏驿站和其他被严重做空的公司股价飙升，但对冲基金和其他投资者却在其他地方平仓多头头寸，以获利了结并弥补损失，给股市带来压力。主要基准指数1月份收盘表现不佳，道琼斯工业平均指数DJIA上涨0.30%，标准普尔500SPX上涨0.39%，纳斯达克综合指数上涨0.57%，创下10月份以来的最大单周跌幅。</blockquote></p><p> U.S. stocks roared back in the past week, however, with the S&amp;P 500 and Nasdaqscoring all-time highsas GameStop tumbled more than 80%.</p><p><blockquote>然而，美国股市在过去一周大幅反弹，标普500和纳斯达克指数创下历史新高，而游戏驿站则暴跌超过80%。</blockquote></p><p> The SocGen analysts said increased retail interest in the markets is part of a broader trend that has seen individual investors driving demand for investments that take environmental, social and corporate governance, or ESG, standards into account.</p><p><blockquote>法国兴业银行分析师表示，散户对市场兴趣的增加是更广泛趋势的一部分，个人投资者推动了对考虑环境、社会和公司治理（ESG）标准的投资的需求。</blockquote></p><p> “Rather than criticizing retail investors and their behavioral pattens, it is better to slot them into the money equation,” they wrote. “After all, it is not only office workers who are locked down at home on snowy days but also very active day traders with access to inexpensive platforms.”</p><p><blockquote>他们写道：“与其批评散户投资者及其行为模式，不如将他们纳入金钱等式。”“毕竟，下雪天被锁在家里的不仅是上班族，还有非常活跃的日内交易者，他们可以访问廉价的平台。”</blockquote></p><p> Cabin fever, however, is hardly the only factor seen driving the renewed interest in the market by individual investors.</p><p><blockquote>然而，幽居病并不是推动个人投资者对市场重新产生兴趣的唯一因素。</blockquote></p><p> <b>Leveling the field</b></p><p><blockquote><b>平整场地</b></blockquote></p><p> Some individual investors who previously shunned equities might finally be succumbing to the notion that ultralow yields on bonds and elsewhere leave little alternative to the stock market. Equities still look attractive when it comes to dividend or earnings yields, Konstantinos said.</p><p><blockquote>一些以前回避股票的个人投资者可能最终会屈服于这样一种观念，即债券和其他领域的超低收益率除了股市之外别无选择。康斯坦丁诺斯表示，就股息或盈利收益率而言，股票看起来仍然具有吸引力。</blockquote></p><p></p><p> Moreover, there’s the leveling of the playing field between institutional and individual investors over the past few decades. Regulation FD (for “full disclosure’) and other regulatory changes as well as the rise of low-fee trading platforms have put individual investors “on a closer footing to institutional investors than at any other time in history,” he said.</p><p><blockquote>此外，过去几十年来，机构投资者和个人投资者之间的竞争环境是公平的。他表示，FD监管（“全面披露”）和其他监管变化以及低费用交易平台的兴起使个人投资者“比历史上任何时候都更接近机构投资者”。</blockquote></p><p> Indeed, some market watchers have argued that the conventional branding of individual investors as the “dumb money” looks increasingly misguided, particularly after the GameStop episode showed supposedly “smart money” investors shorting more than 100% of the company’s stock, leaving them wide open to a painful short squeeze.</p><p><blockquote>事实上，一些市场观察人士认为，将个人投资者称为“愚蠢的钱”的传统品牌看起来越来越被误导，特别是在游戏驿站事件显示所谓的“聪明的钱”投资者做空了该公司100%以上的股票之后，他们陷入了困境。痛苦的轧空。</blockquote></p><p> Calvasina noted that some of the more well-known trades pursued by individual investors over the past year — buying stocks in the middle of a recession, buying airlines and cruise lines last summer, and implementing short squeezes this winter — come from a playbook that’s been largely abandoned by institutional investors over the past decade in favor of growth-, momentum- and quality-investing strategies.</p><p><blockquote>卡尔瓦西纳指出，个人投资者在过去一年中进行的一些更知名的交易——在经济衰退中购买股票、去年夏天购买航空公司和邮轮公司以及今年冬天实施空头挤压——来自过去十年，机构投资者基本上放弃了增长、动量和质量投资策略。</blockquote></p><p> On that point, highly shorted names have outperformed the market since the March 23 lows when it comes to both small- and large-cap stocks, a development that typically occurs after the market has put in a mid-recession low, she noted.</p><p><blockquote>她指出，在这一点上，自3月23日低点以来，无论是小盘股还是大盘股，被高度做空的股票的表现都优于市场，这种发展通常发生在市场陷入衰退中期低点之后。</blockquote></p><p> Still, the frenzy in retail trading that surrounded the short squeeze on GameStop and a handful of other heavily shorted small-cap stocks raised a red flag to investors on the lookout for the sort of froth that signals a rally is entering the sort of euphoric phase typically followed by a pullback.</p><p><blockquote>尽管如此，围绕游戏驿站和其他一些被严重做空的小盘股的空头挤压的散户交易的狂热向投资者发出了危险信号，他们正在寻找泡沫，这表明反弹正在进入欣快阶段。阶段通常会出现回调。</blockquote></p><p> <b>Next leg?</b></p><p><blockquote><b>下一站？</b></blockquote></p><p> While that may prove to be the case in the near term, some investors contend a sustained pickup in active individual investing interest could help drive the next leg of a bull market.</p><p><blockquote>虽然短期内情况可能会如此，但一些投资者认为，活跃的个人投资兴趣持续回升可能有助于推动牛市的下一阶段。</blockquote></p><p> Individual investors could continue to fuel interest in more value-oriented, smaller capitalization and higher volatility names, Konstantinos said.</p><p><blockquote>康斯坦丁诺斯表示，个人投资者可能会继续激发对更具价值导向、市值较小、波动性较高的股票的兴趣。</blockquote></p><p> And sustained interest in individual securities could mean more “dispersion,” or variation in returns between individual stocks and sectors, said Clissold — an element that was missing over the past decade to the pain of active fund managers.</p><p><blockquote>克里索尔德表示，对个别证券的持续兴趣可能意味着个股和行业之间回报的更多“分散”或差异——这是过去十年中让主动型基金经理痛苦的缺失因素。</blockquote></p><p> Calvasina argued that retail interest in specific stocks is likely to ebb and flow, as it has done over the past year, but probably won’t fade away.</p><p><blockquote>卡尔瓦西纳认为，散户对特定股票的兴趣可能会像过去一年那样潮起潮落，但可能不会消失。</blockquote></p><p> “Unless the door closes (i.e. through a major regulatory change), we fail to see why retail investor interest in trading specific names will completely go way given how elevated cash on the sidelines is among consumers,” she wrote.</p><p><blockquote>她写道：“除非大门关闭（即通过重大监管变化），否则考虑到消费者的观望现金水平大幅提高，我们不明白为什么散户投资者对交易特定名称的兴趣会完全消失。”</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Individual investors are back — here’s what it means for the stock market<blockquote>个人投资者回来了——这对股市意味着什么</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; 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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\">\nIndividual investors are back — here’s what it means for the stock market<blockquote>个人投资者回来了——这对股市意味着什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-08 18:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There’s more to the retail revival than GameStop</p><p><blockquote>零售业的复兴不仅仅是游戏驿站</blockquote></p><p> Look who’s back.</p><p><blockquote>看看谁回来了。</blockquote></p><p> After a long absence, active individual investors have returned. While breakneck and foolhardy trading activity in shares of GameStop Corp.GME,+19.20%has dominated the headlines, unanswered questions remain as to whether a broader resurgence in retail trading will last and what it will mean for the stock market as U.S. benchmark indexes march to all-time highs.</p><p><blockquote>久违之后，活跃的个人投资者又回来了。尽管游戏驿站公司GME(+19.20%)股票的极快和鲁莽的交易活动占据了头条新闻，但零售交易的更广泛复苏是否会持续，以及随着美国基准指数的上涨，这对股市意味着什么，这些问题仍然悬而未决。三月创下历史新高。</blockquote></p><p> <b>The comeback</b></p><p><blockquote><b>复出</b></blockquote></p><p> It’s been a long time coming.</p><p><blockquote>已经等了很久了。</blockquote></p><p> The stock market put in a historic rally over the past decade “without any prominent retail interest in it,” said Chris Konstantinos, chief investment strategist at RiverFront Investment Group, in an interview.</p><p><blockquote>RiverFront Investment Group首席投资策略师克里斯·康斯坦丁诺斯(Chris Konstantinos)在接受采访时表示，过去十年股市出现了历史性反弹，“但散户对此没有任何明显的兴趣”。</blockquote></p><p> He noted that total bond fund flows have outpaced stock flows by nearly $3 trillion since 2007. In fact, individual investors appeared interested in almost anything else, from real estate to cryptocurrencies, Konstantinos said.</p><p><blockquote>他指出，自2007年以来，债券资金流量总额已超过股票流量近3万亿美元。康斯坦丁诺斯表示，事实上，个人投资者似乎对从房地产到加密货币的几乎所有其他东西都感兴趣。</blockquote></p><p> A shift got under way last year as the coronavirus pandemic took hold. Sequential growth in accounts at brokers such as Charles Schwab Corp.SCHW,+0.98%that cater to individual investors “was remarkable” at the end of the second quarter of 2020 and was followed by a major surge in growth in the following quarter, said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, in a Feb. 2 note.</p><p><blockquote>去年，随着冠状病毒大流行的蔓延，一种转变开始了。Lori表示，2020年第二季度末，嘉信理财(Charles Schwab Corp.SCHW,+0.98%等迎合个人投资者的经纪商的账户环比增长“令人瞩目”，随后在接下来的一个季度出现大幅增长。加拿大皇家银行资本市场美国股票策略主管卡尔瓦西纳(Lori Calvasina)在2月2日的一份报告中。</blockquote></p><p> At the same time Google searches for “day trading” were also on the rise, she noted (see charts below).</p><p><blockquote>她指出，与此同时，谷歌上“日内交易”的搜索量也在上升（见下图）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abaf0f0e954b8c180c43870b72f55252\" tg-width=\"1260\" tg-height=\"655\"><span>RBC CAPITAL MARKETS</span></p><p><blockquote><p class=\"t-img-caption\"><span>加拿大皇家银行资本市场</span></p></blockquote></p><p> Calvasina and others acknowledged that a combination of lockdown-related boredom and stimulus checks from the U.S. government likely played a role in the uptick in individual investing interest.</p><p><blockquote>卡尔瓦西纳和其他人承认，与封锁相关的无聊和美国政府的刺激检查的结合可能在个人投资兴趣的上升中发挥了作用。</blockquote></p><p> The jury is out on whether that enthusiasm will endure, said Ed Clissold, chief U.S. strategist at Ned Davis Research Group, in an interview. It’s unclear how much of the pickup in retail trading merely reflects individuals throwing extra money via stimulus checks at the market, he said.</p><p><blockquote>Ned Davis Research Group首席美国策略师Ed Clissold在接受采访时表示，这种热情是否会持续还没有定论。他说，目前尚不清楚零售交易的回升有多少仅仅反映了个人通过刺激支票向市场投入额外资金。</blockquote></p><p> That sort of trading feels more like gambling than investing, he said, noting that “frothy” market action tends to fade quickly away.</p><p><blockquote>他说，这种交易感觉更像是赌博而不是投资，并指出“泡沫”市场行为往往会很快消失。</blockquote></p><p> No doubt, day traders who jumped on the GameStop rally in a big way and listened to pleas on Reddit’s WallStreetBets forum to hold the line were left to suffer ugly losses. Some market watchers fear that the bubble-like activity in so-called meme stocks could end up scaring away individual investors, nipping any resurgence in the bud.</p><p><blockquote>毫无疑问，那些在游戏驿站反弹中大举买入并听取Reddit WallStreetBets论坛上坚持己见的日内交易者将遭受惨重的损失。一些市场观察人士担心，所谓模因股票的泡沫般的活动最终可能会吓跑个人投资者，将任何复苏扼杀在萌芽状态。</blockquote></p><p> But others argued that many individual investors, whose ranks aren’t made up soley of rapid-fire day traders, were likely to stick around.</p><p><blockquote>但其他人则认为，许多个人投资者可能会留下来，他们的队伍不仅仅是快速的日内交易者。</blockquote></p><p> <b>‘Structural change’</b></p><p><blockquote><b>“结构性变化”</b></blockquote></p><p> Calvasina said RBC suspects a “structural change may be afoot and that retail investors are likely to remain bigger players in the U.S. equity market going forward.”</p><p><blockquote>卡尔瓦西纳表示，加拿大皇家银行怀疑“结构性变化可能正在发生，散户投资者未来可能仍将是美国股市中更大的参与者。”</blockquote></p><p> If so, that will require an attitude adjustment by Wall Street pros, who got used to paying little attention to individual investors.</p><p><blockquote>如果是这样，这将需要华尔街专业人士调整态度，他们习惯于很少关注个人投资者。</blockquote></p><p> After all, powerful waves of passive and systematic investment had rendered individual investors largely irrelevant to analysts cooking up market forecasts, wrote strategists at Société Générale, in a Thursday note.</p><p><blockquote>法国兴业银行策略师在周四的一份报告中写道，毕竟，强大的被动和系统性投资浪潮使个人投资者在很大程度上与分析师炮制市场预测无关。</blockquote></p><p> But the market volatility created by the GameStop situation served as a wake-up call, the analysts said.</p><p><blockquote>但分析师表示，游戏驿站局势造成的市场波动是一个唤醒看涨期权。</blockquote></p><p> While GameStop and other heavily shorted names soared, hedge funds and other investors were seen liquidating long positions elsewhere, to take profits and cover losses, putting pressure on equities markets. Major benchmarks ended January on a sour note, with the Dow Jones Industrial AverageDJIA,+0.30%,S&amp;P 500SPX,+0.39%and Nasdaq CompositeCOMP,+0.57%logging their largest weekly declines since October.</p><p><blockquote>尽管游戏驿站和其他被严重做空的公司股价飙升，但对冲基金和其他投资者却在其他地方平仓多头头寸，以获利了结并弥补损失，给股市带来压力。主要基准指数1月份收盘表现不佳，道琼斯工业平均指数DJIA上涨0.30%，标准普尔500SPX上涨0.39%，纳斯达克综合指数上涨0.57%，创下10月份以来的最大单周跌幅。</blockquote></p><p> U.S. stocks roared back in the past week, however, with the S&amp;P 500 and Nasdaqscoring all-time highsas GameStop tumbled more than 80%.</p><p><blockquote>然而，美国股市在过去一周大幅反弹，标普500和纳斯达克指数创下历史新高，而游戏驿站则暴跌超过80%。</blockquote></p><p> The SocGen analysts said increased retail interest in the markets is part of a broader trend that has seen individual investors driving demand for investments that take environmental, social and corporate governance, or ESG, standards into account.</p><p><blockquote>法国兴业银行分析师表示，散户对市场兴趣的增加是更广泛趋势的一部分，个人投资者推动了对考虑环境、社会和公司治理（ESG）标准的投资的需求。</blockquote></p><p> “Rather than criticizing retail investors and their behavioral pattens, it is better to slot them into the money equation,” they wrote. “After all, it is not only office workers who are locked down at home on snowy days but also very active day traders with access to inexpensive platforms.”</p><p><blockquote>他们写道：“与其批评散户投资者及其行为模式，不如将他们纳入金钱等式。”“毕竟，下雪天被锁在家里的不仅是上班族，还有非常活跃的日内交易者，他们可以访问廉价的平台。”</blockquote></p><p> Cabin fever, however, is hardly the only factor seen driving the renewed interest in the market by individual investors.</p><p><blockquote>然而，幽居病并不是推动个人投资者对市场重新产生兴趣的唯一因素。</blockquote></p><p> <b>Leveling the field</b></p><p><blockquote><b>平整场地</b></blockquote></p><p> Some individual investors who previously shunned equities might finally be succumbing to the notion that ultralow yields on bonds and elsewhere leave little alternative to the stock market. Equities still look attractive when it comes to dividend or earnings yields, Konstantinos said.</p><p><blockquote>一些以前回避股票的个人投资者可能最终会屈服于这样一种观念，即债券和其他领域的超低收益率除了股市之外别无选择。康斯坦丁诺斯表示，就股息或盈利收益率而言，股票看起来仍然具有吸引力。</blockquote></p><p></p><p> Moreover, there’s the leveling of the playing field between institutional and individual investors over the past few decades. Regulation FD (for “full disclosure’) and other regulatory changes as well as the rise of low-fee trading platforms have put individual investors “on a closer footing to institutional investors than at any other time in history,” he said.</p><p><blockquote>此外，过去几十年来，机构投资者和个人投资者之间的竞争环境是公平的。他表示，FD监管（“全面披露”）和其他监管变化以及低费用交易平台的兴起使个人投资者“比历史上任何时候都更接近机构投资者”。</blockquote></p><p> Indeed, some market watchers have argued that the conventional branding of individual investors as the “dumb money” looks increasingly misguided, particularly after the GameStop episode showed supposedly “smart money” investors shorting more than 100% of the company’s stock, leaving them wide open to a painful short squeeze.</p><p><blockquote>事实上，一些市场观察人士认为，将个人投资者称为“愚蠢的钱”的传统品牌看起来越来越被误导，特别是在游戏驿站事件显示所谓的“聪明的钱”投资者做空了该公司100%以上的股票之后，他们陷入了困境。痛苦的轧空。</blockquote></p><p> Calvasina noted that some of the more well-known trades pursued by individual investors over the past year — buying stocks in the middle of a recession, buying airlines and cruise lines last summer, and implementing short squeezes this winter — come from a playbook that’s been largely abandoned by institutional investors over the past decade in favor of growth-, momentum- and quality-investing strategies.</p><p><blockquote>卡尔瓦西纳指出，个人投资者在过去一年中进行的一些更知名的交易——在经济衰退中购买股票、去年夏天购买航空公司和邮轮公司以及今年冬天实施空头挤压——来自过去十年，机构投资者基本上放弃了增长、动量和质量投资策略。</blockquote></p><p> On that point, highly shorted names have outperformed the market since the March 23 lows when it comes to both small- and large-cap stocks, a development that typically occurs after the market has put in a mid-recession low, she noted.</p><p><blockquote>她指出，在这一点上，自3月23日低点以来，无论是小盘股还是大盘股，被高度做空的股票的表现都优于市场，这种发展通常发生在市场陷入衰退中期低点之后。</blockquote></p><p> Still, the frenzy in retail trading that surrounded the short squeeze on GameStop and a handful of other heavily shorted small-cap stocks raised a red flag to investors on the lookout for the sort of froth that signals a rally is entering the sort of euphoric phase typically followed by a pullback.</p><p><blockquote>尽管如此，围绕游戏驿站和其他一些被严重做空的小盘股的空头挤压的散户交易的狂热向投资者发出了危险信号，他们正在寻找泡沫，这表明反弹正在进入欣快阶段。阶段通常会出现回调。</blockquote></p><p> <b>Next leg?</b></p><p><blockquote><b>下一站？</b></blockquote></p><p> While that may prove to be the case in the near term, some investors contend a sustained pickup in active individual investing interest could help drive the next leg of a bull market.</p><p><blockquote>虽然短期内情况可能会如此，但一些投资者认为，活跃的个人投资兴趣持续回升可能有助于推动牛市的下一阶段。</blockquote></p><p> Individual investors could continue to fuel interest in more value-oriented, smaller capitalization and higher volatility names, Konstantinos said.</p><p><blockquote>康斯坦丁诺斯表示，个人投资者可能会继续激发对更具价值导向、市值较小、波动性较高的股票的兴趣。</blockquote></p><p> And sustained interest in individual securities could mean more “dispersion,” or variation in returns between individual stocks and sectors, said Clissold — an element that was missing over the past decade to the pain of active fund managers.</p><p><blockquote>克里索尔德表示，对个别证券的持续兴趣可能意味着个股和行业之间回报的更多“分散”或差异——这是过去十年中让主动型基金经理痛苦的缺失因素。</blockquote></p><p> Calvasina argued that retail interest in specific stocks is likely to ebb and flow, as it has done over the past year, but probably won’t fade away.</p><p><blockquote>卡尔瓦西纳认为，散户对特定股票的兴趣可能会像过去一年那样潮起潮落，但可能不会消失。</blockquote></p><p> “Unless the door closes (i.e. through a major regulatory change), we fail to see why retail investor interest in trading specific names will completely go way given how elevated cash on the sidelines is among consumers,” she wrote.</p><p><blockquote>她写道：“除非大门关闭（即通过重大监管变化），否则考虑到消费者的观望现金水平大幅提高，我们不明白为什么散户投资者对交易特定名称的兴趣会完全消失。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/individual-investors-are-back-heres-what-it-means-for-the-stock-market-11612557558?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/individual-investors-are-back-heres-what-it-means-for-the-stock-market-11612557558?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1105339151","content_text":"There’s more to the retail revival than GameStop\nLook who’s back.\nAfter a long absence, active individual investors have returned. While breakneck and foolhardy trading activity in shares of GameStop Corp.GME,+19.20%has dominated the headlines, unanswered questions remain as to whether a broader resurgence in retail trading will last and what it will mean for the stock market as U.S. benchmark indexes march to all-time highs.\nThe comeback\nIt’s been a long time coming.\nThe stock market put in a historic rally over the past decade “without any prominent retail interest in it,” said Chris Konstantinos, chief investment strategist at RiverFront Investment Group, in an interview.\nHe noted that total bond fund flows have outpaced stock flows by nearly $3 trillion since 2007. In fact, individual investors appeared interested in almost anything else, from real estate to cryptocurrencies, Konstantinos said.\nA shift got under way last year as the coronavirus pandemic took hold. Sequential growth in accounts at brokers such as Charles Schwab Corp.SCHW,+0.98%that cater to individual investors “was remarkable” at the end of the second quarter of 2020 and was followed by a major surge in growth in the following quarter, said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, in a Feb. 2 note.\nAt the same time Google searches for “day trading” were also on the rise, she noted (see charts below).\nRBC CAPITAL MARKETS\nCalvasina and others acknowledged that a combination of lockdown-related boredom and stimulus checks from the U.S. government likely played a role in the uptick in individual investing interest.\nThe jury is out on whether that enthusiasm will endure, said Ed Clissold, chief U.S. strategist at Ned Davis Research Group, in an interview. It’s unclear how much of the pickup in retail trading merely reflects individuals throwing extra money via stimulus checks at the market, he said.\nThat sort of trading feels more like gambling than investing, he said, noting that “frothy” market action tends to fade quickly away.\nNo doubt, day traders who jumped on the GameStop rally in a big way and listened to pleas on Reddit’s WallStreetBets forum to hold the line were left to suffer ugly losses. Some market watchers fear that the bubble-like activity in so-called meme stocks could end up scaring away individual investors, nipping any resurgence in the bud.\nBut others argued that many individual investors, whose ranks aren’t made up soley of rapid-fire day traders, were likely to stick around.\n‘Structural change’\nCalvasina said RBC suspects a “structural change may be afoot and that retail investors are likely to remain bigger players in the U.S. equity market going forward.”\nIf so, that will require an attitude adjustment by Wall Street pros, who got used to paying little attention to individual investors.\nAfter all, powerful waves of passive and systematic investment had rendered individual investors largely irrelevant to analysts cooking up market forecasts, wrote strategists at Société Générale, in a Thursday note.\nBut the market volatility created by the GameStop situation served as a wake-up call, the analysts said.\nWhile GameStop and other heavily shorted names soared, hedge funds and other investors were seen liquidating long positions elsewhere, to take profits and cover losses, putting pressure on equities markets. Major benchmarks ended January on a sour note, with the Dow Jones Industrial AverageDJIA,+0.30%,S&P 500SPX,+0.39%and Nasdaq CompositeCOMP,+0.57%logging their largest weekly declines since October.\nU.S. stocks roared back in the past week, however, with the S&P 500 and Nasdaqscoring all-time highsas GameStop tumbled more than 80%.\nThe SocGen analysts said increased retail interest in the markets is part of a broader trend that has seen individual investors driving demand for investments that take environmental, social and corporate governance, or ESG, standards into account.\n“Rather than criticizing retail investors and their behavioral pattens, it is better to slot them into the money equation,” they wrote. “After all, it is not only office workers who are locked down at home on snowy days but also very active day traders with access to inexpensive platforms.”\nCabin fever, however, is hardly the only factor seen driving the renewed interest in the market by individual investors.\nLeveling the field\nSome individual investors who previously shunned equities might finally be succumbing to the notion that ultralow yields on bonds and elsewhere leave little alternative to the stock market. Equities still look attractive when it comes to dividend or earnings yields, Konstantinos said.\nMoreover, there’s the leveling of the playing field between institutional and individual investors over the past few decades. Regulation FD (for “full disclosure’) and other regulatory changes as well as the rise of low-fee trading platforms have put individual investors “on a closer footing to institutional investors than at any other time in history,” he said.\nIndeed, some market watchers have argued that the conventional branding of individual investors as the “dumb money” looks increasingly misguided, particularly after the GameStop episode showed supposedly “smart money” investors shorting more than 100% of the company’s stock, leaving them wide open to a painful short squeeze.\nCalvasina noted that some of the more well-known trades pursued by individual investors over the past year — buying stocks in the middle of a recession, buying airlines and cruise lines last summer, and implementing short squeezes this winter — come from a playbook that’s been largely abandoned by institutional investors over the past decade in favor of growth-, momentum- and quality-investing strategies.\nOn that point, highly shorted names have outperformed the market since the March 23 lows when it comes to both small- and large-cap stocks, a development that typically occurs after the market has put in a mid-recession low, she noted.\nStill, the frenzy in retail trading that surrounded the short squeeze on GameStop and a handful of other heavily shorted small-cap stocks raised a red flag to investors on the lookout for the sort of froth that signals a rally is entering the sort of euphoric phase typically followed by a pullback.\nNext leg?\nWhile that may prove to be the case in the near term, some investors contend a sustained pickup in active individual investing interest could help drive the next leg of a bull market.\nIndividual investors could continue to fuel interest in more value-oriented, smaller capitalization and higher volatility names, Konstantinos said.\nAnd sustained interest in individual securities could mean more “dispersion,” or variation in returns between individual stocks and sectors, said Clissold — an element that was missing over the past decade to the pain of active fund managers.\nCalvasina argued that retail interest in specific stocks is likely to ebb and flow, as it has done over the past year, but probably won’t fade away.\n“Unless the door closes (i.e. through a major regulatory change), we fail to see why retail investor interest in trading specific names will completely go way given how elevated cash on the sidelines is among consumers,” she wrote.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"GME":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":194133567,"gmtCreate":1621346926059,"gmtModify":1634192257260,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562143440499298","idStr":"3562143440499298"},"themes":[],"htmlText":"Yes!","listText":"Yes!","text":"Yes!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194133567","repostId":"2136993182","repostType":2,"isVote":1,"tweetType":1,"viewCount":1421,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130433958,"gmtCreate":1621560136174,"gmtModify":1634188107737,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562143440499298","idStr":"3562143440499298"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130433958","repostId":"1110902622","repostType":2,"isVote":1,"tweetType":1,"viewCount":1612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194751883,"gmtCreate":1621403709442,"gmtModify":1634189417374,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562143440499298","idStr":"3562143440499298"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194751883","repostId":"2136918575","repostType":2,"isVote":1,"tweetType":1,"viewCount":1293,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194110418,"gmtCreate":1621347311534,"gmtModify":1634192252773,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562143440499298","idStr":"3562143440499298"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194110418","repostId":"2136986129","repostType":2,"isVote":1,"tweetType":1,"viewCount":2709,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":195159720,"gmtCreate":1621264380260,"gmtModify":1634192917741,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562143440499298","idStr":"3562143440499298"},"themes":[],"htmlText":"Go! Go!","listText":"Go! Go!","text":"Go! Go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/195159720","repostId":"1194288202","repostType":2,"repost":{"id":"1194288202","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":1621259224,"share":"https://www.laohu8.com/m/news/1194288202?lang=zh_CN&edition=full","pubTime":"2021-05-17 21:47","market":"us","language":"en","title":"AMC Entertainment stock surged 8% in Monday morning trading<blockquote>AMC院线股价周一早盘飙升8%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194288202","media":"Tiger Newspress","summary":"AMC Entertainment stock surged 8% in Monday morning trading, toward 7th straight gain.","content":"<p>AMC Entertainment stock surged 8% in Monday morning trading, toward 7th straight gain.</p><p><blockquote>AMC院线股价在周一早盘交易中飙升8%，连续第七次上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2f4d6854c15140b5780465402db3c8c5\" tg-width=\"840\" tg-height=\"470\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Entertainment stock surged 8% in Monday morning trading<blockquote>AMC院线股价周一早盘飙升8%</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\">\nAMC Entertainment stock surged 8% in Monday morning trading<blockquote>AMC院线股价周一早盘飙升8%</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\">2021-05-17 21:47</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMC Entertainment stock surged 8% in Monday morning trading, toward 7th straight gain.</p><p><blockquote>AMC院线股价在周一早盘交易中飙升8%，连续第七次上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2f4d6854c15140b5780465402db3c8c5\" tg-width=\"840\" tg-height=\"470\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194288202","content_text":"AMC Entertainment stock surged 8% in Monday morning trading, toward 7th straight gain.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1894,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320299170,"gmtCreate":1615107169090,"gmtModify":1703484774775,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562143440499298","idStr":"3562143440499298"},"themes":[],"htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/320299170","repostId":"2117655429","repostType":2,"repost":{"id":"2117655429","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1615075260,"share":"https://www.laohu8.com/m/news/2117655429?lang=zh_CN&edition=full","pubTime":"2021-03-07 08:01","market":"us","language":"en","title":"'A side of shares': Deliveroo to offer 50 million pounds of stock to customers<blockquote>“股票的一面”：户户送将向客户提供5000万英镑的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2117655429","media":"Reuters","summary":"LONDON, March 7 (Reuters) - Deliveroo said shares worth 50 million pounds ($69 million) would be ear","content":"<p><html><body>LONDON, March 7 (Reuters) - Deliveroo said shares worth 50 million pounds ($69 million) would be earmarked for customers in its upcoming flotation, with the offer branded \"Great food with a side of shares\". </p><p><blockquote><html><body>路透伦敦3月7日-户户送表示，价值5000万英镑（合6900万美元）的股票将在即将到来的上市中专门提供给客户，该要约被称为“带有股票一面的美食”。</body></html></blockquote></p><p>   The Amazon-backed food delivery firm announced plans on Thursday to list in London, with a potential value of $7 billion making it the biggest market debut in Britain for three years.</p><p><blockquote>这家亚马逊支持的食品配送公司周四宣布计划在伦敦上市，潜在价值为70亿美元，成为英国三年来最大的上市。</blockquote></p><p>   Founder and chief executive Will Shu said Deliveroo's customers had supported the firm's growth and he wanted to give them the chance to share in the next stage of its journey. </p><p><blockquote>创始人兼首席执行官威尔·舒(Will Shu)表示，户户送的客户支持了公司的发展，他希望让他们有机会分享公司下一阶段的旅程。</blockquote></p><p>   \"Far too often, normal people are locked out of IPOs, and the only participants are the institutional investors,\" he said on Sunday. </p><p><blockquote>“很多时候，普通人被排除在IPO之外，唯一的参与者是机构投资者，”他周日表示。</blockquote></p><p>   \"I wanted to give as many customers as possible the chance to become shareholders, which is why we're making 50 million pounds of shares available to them, alongside our restaurant partners and riders.\"</p><p><blockquote>“我想让尽可能多的顾客有机会成为股东，这就是为什么我们向他们以及我们的餐厅合作伙伴和乘客提供5000万英镑的股票。”</blockquote></p><p>   Deliveroo said any customer who had placed an order would be able to register their interest via the company's app from Monday.</p><p><blockquote>户户送表示，从周一开始，任何下订单的客户都可以通过该公司的应用程序注册他们的兴趣。</blockquote></p><p>   Each would be able to apply for up to 1,000 pounds of shares, it said, adding that loyal customers would be prioritised if the offer were oversubscribed.</p><p><blockquote>该公司表示，每个人都可以申请最多1,000英镑的股票，并补充说，如果要约被超额认购，忠诚的客户将被优先考虑。</blockquote></p><p>   Russ Mould, investment director at online platform AJ Bell, said a year of lockdowns had fuelled demand for companies like Deliveroo and there was an expectation that habits formed during the pandemic would remain long into the recovery.</p><p><blockquote>在线平台AJ Bell投资总监Russ Mould表示，一年的封锁刺激了对户户送等公司的需求，人们预计疫情期间形成的习惯将在复苏后长期存在。</blockquote></p><p>   \"All this suggests there is likely to be a bun fight for the 50 million pounds worth of customer shares in Deliveroo at the IPO offer,\" he said.</p><p><blockquote>他表示：“所有这些都表明，在IPO要约中，户户送价值5000万英镑的客户股票可能会出现一场争夺。”</blockquote></p><p>   Deliveroo said it would also recognise the role played by its delivery riders in its success with a 16 million pound reward programme to be launched on the day of listing.</p><p><blockquote>户户送表示，还将在上市当天推出1600万英镑的奖励计划，以表彰其外卖骑手在其成功中所发挥的作用。</blockquote></p><p>   Cash rewards from 10,000 pounds to 200 pounds will be available to riders in Deliveroo's 21 markets based on the number of orders delivered. It said the average per eligible rider would be 440 pounds. ($1 = 0.7225 pounds)</p><p><blockquote>根据交付的订单数量，户户送21个市场的骑手将获得10,000英镑至200英镑的现金奖励。据称，每位符合条件的骑手的平均体重为440磅。（1美元=0.7225英镑）</blockquote></p><p> (Reporting by Paul Sandle; Editing by Christina Fincher)</p><p><blockquote>（保罗·桑德尔报道；克里斯蒂娜·芬奇编辑）</blockquote></p><p>((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))</p><p><blockquote>（（paul.sandle@thomsonreuters.com；+44 20 754 2 684 3；路透社消息：paul.sandle.thomsonreuters.com@reuters.net））</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'A side of shares': Deliveroo to offer 50 million pounds of stock to customers<blockquote>“股票的一面”：户户送将向客户提供5000万英镑的股票</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\">\n'A side of shares': Deliveroo to offer 50 million pounds of stock to customers<blockquote>“股票的一面”：户户送将向客户提供5000万英镑的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2021-03-07 08:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><body>LONDON, March 7 (Reuters) - Deliveroo said shares worth 50 million pounds ($69 million) would be earmarked for customers in its upcoming flotation, with the offer branded \"Great food with a side of shares\". </p><p><blockquote><html><body>路透伦敦3月7日-户户送表示，价值5000万英镑（合6900万美元）的股票将在即将到来的上市中专门提供给客户，该要约被称为“带有股票一面的美食”。</body></html></blockquote></p><p>   The Amazon-backed food delivery firm announced plans on Thursday to list in London, with a potential value of $7 billion making it the biggest market debut in Britain for three years.</p><p><blockquote>这家亚马逊支持的食品配送公司周四宣布计划在伦敦上市，潜在价值为70亿美元，成为英国三年来最大的上市。</blockquote></p><p>   Founder and chief executive Will Shu said Deliveroo's customers had supported the firm's growth and he wanted to give them the chance to share in the next stage of its journey. </p><p><blockquote>创始人兼首席执行官威尔·舒(Will Shu)表示，户户送的客户支持了公司的发展，他希望让他们有机会分享公司下一阶段的旅程。</blockquote></p><p>   \"Far too often, normal people are locked out of IPOs, and the only participants are the institutional investors,\" he said on Sunday. </p><p><blockquote>“很多时候，普通人被排除在IPO之外，唯一的参与者是机构投资者，”他周日表示。</blockquote></p><p>   \"I wanted to give as many customers as possible the chance to become shareholders, which is why we're making 50 million pounds of shares available to them, alongside our restaurant partners and riders.\"</p><p><blockquote>“我想让尽可能多的顾客有机会成为股东，这就是为什么我们向他们以及我们的餐厅合作伙伴和乘客提供5000万英镑的股票。”</blockquote></p><p>   Deliveroo said any customer who had placed an order would be able to register their interest via the company's app from Monday.</p><p><blockquote>户户送表示，从周一开始，任何下订单的客户都可以通过该公司的应用程序注册他们的兴趣。</blockquote></p><p>   Each would be able to apply for up to 1,000 pounds of shares, it said, adding that loyal customers would be prioritised if the offer were oversubscribed.</p><p><blockquote>该公司表示，每个人都可以申请最多1,000英镑的股票，并补充说，如果要约被超额认购，忠诚的客户将被优先考虑。</blockquote></p><p>   Russ Mould, investment director at online platform AJ Bell, said a year of lockdowns had fuelled demand for companies like Deliveroo and there was an expectation that habits formed during the pandemic would remain long into the recovery.</p><p><blockquote>在线平台AJ Bell投资总监Russ Mould表示，一年的封锁刺激了对户户送等公司的需求，人们预计疫情期间形成的习惯将在复苏后长期存在。</blockquote></p><p>   \"All this suggests there is likely to be a bun fight for the 50 million pounds worth of customer shares in Deliveroo at the IPO offer,\" he said.</p><p><blockquote>他表示：“所有这些都表明，在IPO要约中，户户送价值5000万英镑的客户股票可能会出现一场争夺。”</blockquote></p><p>   Deliveroo said it would also recognise the role played by its delivery riders in its success with a 16 million pound reward programme to be launched on the day of listing.</p><p><blockquote>户户送表示，还将在上市当天推出1600万英镑的奖励计划，以表彰其外卖骑手在其成功中所发挥的作用。</blockquote></p><p>   Cash rewards from 10,000 pounds to 200 pounds will be available to riders in Deliveroo's 21 markets based on the number of orders delivered. It said the average per eligible rider would be 440 pounds. ($1 = 0.7225 pounds)</p><p><blockquote>根据交付的订单数量，户户送21个市场的骑手将获得10,000英镑至200英镑的现金奖励。据称，每位符合条件的骑手的平均体重为440磅。（1美元=0.7225英镑）</blockquote></p><p> (Reporting by Paul Sandle; Editing by Christina Fincher)</p><p><blockquote>（保罗·桑德尔报道；克里斯蒂娜·芬奇编辑）</blockquote></p><p>((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))</p><p><blockquote>（（paul.sandle@thomsonreuters.com；+44 20 754 2 684 3；路透社消息：paul.sandle.thomsonreuters.com@reuters.net））</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","09086":"华夏纳指-U","AMZN":"亚马逊","03086":"华夏纳指"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2117655429","content_text":"LONDON, March 7 (Reuters) - Deliveroo said shares worth 50 million pounds ($69 million) would be earmarked for customers in its upcoming flotation, with the offer branded \"Great food with a side of shares\".    The Amazon-backed food delivery firm announced plans on Thursday to list in London, with a potential value of $7 billion making it the biggest market debut in Britain for three years.   Founder and chief executive Will Shu said Deliveroo's customers had supported the firm's growth and he wanted to give them the chance to share in the next stage of its journey.    \"Far too often, normal people are locked out of IPOs, and the only participants are the institutional investors,\" he said on Sunday.    \"I wanted to give as many customers as possible the chance to become shareholders, which is why we're making 50 million pounds of shares available to them, alongside our restaurant partners and riders.\"   Deliveroo said any customer who had placed an order would be able to register their interest via the company's app from Monday.   Each would be able to apply for up to 1,000 pounds of shares, it said, adding that loyal customers would be prioritised if the offer were oversubscribed.   Russ Mould, investment director at online platform AJ Bell, said a year of lockdowns had fuelled demand for companies like Deliveroo and there was an expectation that habits formed during the pandemic would remain long into the recovery.   \"All this suggests there is likely to be a bun fight for the 50 million pounds worth of customer shares in Deliveroo at the IPO offer,\" he said.   Deliveroo said it would also recognise the role played by its delivery riders in its success with a 16 million pound reward programme to be launched on the day of listing.   Cash rewards from 10,000 pounds to 200 pounds will be available to riders in Deliveroo's 21 markets based on the number of orders delivered. It said the average per eligible rider would be 440 pounds. ($1 = 0.7225 pounds) (Reporting by Paul Sandle; Editing by Christina Fincher)((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))","news_type":1,"symbols_score_info":{"QNETCN":0.6,"AMZN":0.9,"03086":0.6,"09086":0.6}},"isVote":1,"tweetType":1,"viewCount":1518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383946080,"gmtCreate":1612833236240,"gmtModify":1703765602411,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562143440499298","idStr":"3562143440499298"},"themes":[],"htmlText":"Go Eth.","listText":"Go Eth.","text":"Go Eth.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/383946080","repostId":"1133468331","repostType":4,"isVote":1,"tweetType":1,"viewCount":3013,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383948363,"gmtCreate":1612833193052,"gmtModify":1703765600689,"author":{"id":"3562143440499298","authorId":"3562143440499298","name":"Huat6699","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562143440499298","idStr":"3562143440499298"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/383948363","repostId":"1105339151","repostType":4,"repost":{"id":"1105339151","kind":"news","pubTimestamp":1612778898,"share":"https://www.laohu8.com/m/news/1105339151?lang=zh_CN&edition=full","pubTime":"2021-02-08 18:08","market":"us","language":"en","title":"Individual investors are back — here’s what it means for the stock market<blockquote>个人投资者回来了——这对股市意味着什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105339151","media":"MarketWatch","summary":"There’s more to the retail revival than GameStop\nLook who’s back.\nAfter a long absence, active indiv","content":"<p>There’s more to the retail revival than GameStop</p><p><blockquote>零售业的复兴不仅仅是游戏驿站</blockquote></p><p> Look who’s back.</p><p><blockquote>看看谁回来了。</blockquote></p><p> After a long absence, active individual investors have returned. While breakneck and foolhardy trading activity in shares of GameStop Corp.GME,+19.20%has dominated the headlines, unanswered questions remain as to whether a broader resurgence in retail trading will last and what it will mean for the stock market as U.S. benchmark indexes march to all-time highs.</p><p><blockquote>久违之后，活跃的个人投资者又回来了。尽管游戏驿站公司GME(+19.20%)股票的极快和鲁莽的交易活动占据了头条新闻，但零售交易的更广泛复苏是否会持续，以及随着美国基准指数的上涨，这对股市意味着什么，这些问题仍然悬而未决。三月创下历史新高。</blockquote></p><p> <b>The comeback</b></p><p><blockquote><b>复出</b></blockquote></p><p> It’s been a long time coming.</p><p><blockquote>已经等了很久了。</blockquote></p><p> The stock market put in a historic rally over the past decade “without any prominent retail interest in it,” said Chris Konstantinos, chief investment strategist at RiverFront Investment Group, in an interview.</p><p><blockquote>RiverFront Investment Group首席投资策略师克里斯·康斯坦丁诺斯(Chris Konstantinos)在接受采访时表示，过去十年股市出现了历史性反弹，“但散户对此没有任何明显的兴趣”。</blockquote></p><p> He noted that total bond fund flows have outpaced stock flows by nearly $3 trillion since 2007. In fact, individual investors appeared interested in almost anything else, from real estate to cryptocurrencies, Konstantinos said.</p><p><blockquote>他指出，自2007年以来，债券资金流量总额已超过股票流量近3万亿美元。康斯坦丁诺斯表示，事实上，个人投资者似乎对从房地产到加密货币的几乎所有其他东西都感兴趣。</blockquote></p><p> A shift got under way last year as the coronavirus pandemic took hold. Sequential growth in accounts at brokers such as Charles Schwab Corp.SCHW,+0.98%that cater to individual investors “was remarkable” at the end of the second quarter of 2020 and was followed by a major surge in growth in the following quarter, said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, in a Feb. 2 note.</p><p><blockquote>去年，随着冠状病毒大流行的蔓延，一种转变开始了。Lori表示，2020年第二季度末，嘉信理财(Charles Schwab Corp.SCHW,+0.98%等迎合个人投资者的经纪商的账户环比增长“令人瞩目”，随后在接下来的一个季度出现大幅增长。加拿大皇家银行资本市场美国股票策略主管卡尔瓦西纳(Lori Calvasina)在2月2日的一份报告中。</blockquote></p><p> At the same time Google searches for “day trading” were also on the rise, she noted (see charts below).</p><p><blockquote>她指出，与此同时，谷歌上“日内交易”的搜索量也在上升（见下图）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abaf0f0e954b8c180c43870b72f55252\" tg-width=\"1260\" tg-height=\"655\"><span>RBC CAPITAL MARKETS</span></p><p><blockquote><p class=\"t-img-caption\"><span>加拿大皇家银行资本市场</span></p></blockquote></p><p> Calvasina and others acknowledged that a combination of lockdown-related boredom and stimulus checks from the U.S. government likely played a role in the uptick in individual investing interest.</p><p><blockquote>卡尔瓦西纳和其他人承认，与封锁相关的无聊和美国政府的刺激检查的结合可能在个人投资兴趣的上升中发挥了作用。</blockquote></p><p> The jury is out on whether that enthusiasm will endure, said Ed Clissold, chief U.S. strategist at Ned Davis Research Group, in an interview. It’s unclear how much of the pickup in retail trading merely reflects individuals throwing extra money via stimulus checks at the market, he said.</p><p><blockquote>Ned Davis Research Group首席美国策略师Ed Clissold在接受采访时表示，这种热情是否会持续还没有定论。他说，目前尚不清楚零售交易的回升有多少仅仅反映了个人通过刺激支票向市场投入额外资金。</blockquote></p><p> That sort of trading feels more like gambling than investing, he said, noting that “frothy” market action tends to fade quickly away.</p><p><blockquote>他说，这种交易感觉更像是赌博而不是投资，并指出“泡沫”市场行为往往会很快消失。</blockquote></p><p> No doubt, day traders who jumped on the GameStop rally in a big way and listened to pleas on Reddit’s WallStreetBets forum to hold the line were left to suffer ugly losses. Some market watchers fear that the bubble-like activity in so-called meme stocks could end up scaring away individual investors, nipping any resurgence in the bud.</p><p><blockquote>毫无疑问，那些在游戏驿站反弹中大举买入并听取Reddit WallStreetBets论坛上坚持己见的日内交易者将遭受惨重的损失。一些市场观察人士担心，所谓模因股票的泡沫般的活动最终可能会吓跑个人投资者，将任何复苏扼杀在萌芽状态。</blockquote></p><p> But others argued that many individual investors, whose ranks aren’t made up soley of rapid-fire day traders, were likely to stick around.</p><p><blockquote>但其他人则认为，许多个人投资者可能会留下来，他们的队伍不仅仅是快速的日内交易者。</blockquote></p><p> <b>‘Structural change’</b></p><p><blockquote><b>“结构性变化”</b></blockquote></p><p> Calvasina said RBC suspects a “structural change may be afoot and that retail investors are likely to remain bigger players in the U.S. equity market going forward.”</p><p><blockquote>卡尔瓦西纳表示，加拿大皇家银行怀疑“结构性变化可能正在发生，散户投资者未来可能仍将是美国股市中更大的参与者。”</blockquote></p><p> If so, that will require an attitude adjustment by Wall Street pros, who got used to paying little attention to individual investors.</p><p><blockquote>如果是这样，这将需要华尔街专业人士调整态度，他们习惯于很少关注个人投资者。</blockquote></p><p> After all, powerful waves of passive and systematic investment had rendered individual investors largely irrelevant to analysts cooking up market forecasts, wrote strategists at Société Générale, in a Thursday note.</p><p><blockquote>法国兴业银行策略师在周四的一份报告中写道，毕竟，强大的被动和系统性投资浪潮使个人投资者在很大程度上与分析师炮制市场预测无关。</blockquote></p><p> But the market volatility created by the GameStop situation served as a wake-up call, the analysts said.</p><p><blockquote>但分析师表示，游戏驿站局势造成的市场波动是一个唤醒看涨期权。</blockquote></p><p> While GameStop and other heavily shorted names soared, hedge funds and other investors were seen liquidating long positions elsewhere, to take profits and cover losses, putting pressure on equities markets. Major benchmarks ended January on a sour note, with the Dow Jones Industrial AverageDJIA,+0.30%,S&amp;P 500SPX,+0.39%and Nasdaq CompositeCOMP,+0.57%logging their largest weekly declines since October.</p><p><blockquote>尽管游戏驿站和其他被严重做空的公司股价飙升，但对冲基金和其他投资者却在其他地方平仓多头头寸，以获利了结并弥补损失，给股市带来压力。主要基准指数1月份收盘表现不佳，道琼斯工业平均指数DJIA上涨0.30%，标准普尔500SPX上涨0.39%，纳斯达克综合指数上涨0.57%，创下10月份以来的最大单周跌幅。</blockquote></p><p> U.S. stocks roared back in the past week, however, with the S&amp;P 500 and Nasdaqscoring all-time highsas GameStop tumbled more than 80%.</p><p><blockquote>然而，美国股市在过去一周大幅反弹，标普500和纳斯达克指数创下历史新高，而游戏驿站则暴跌超过80%。</blockquote></p><p> The SocGen analysts said increased retail interest in the markets is part of a broader trend that has seen individual investors driving demand for investments that take environmental, social and corporate governance, or ESG, standards into account.</p><p><blockquote>法国兴业银行分析师表示，散户对市场兴趣的增加是更广泛趋势的一部分，个人投资者推动了对考虑环境、社会和公司治理（ESG）标准的投资的需求。</blockquote></p><p> “Rather than criticizing retail investors and their behavioral pattens, it is better to slot them into the money equation,” they wrote. “After all, it is not only office workers who are locked down at home on snowy days but also very active day traders with access to inexpensive platforms.”</p><p><blockquote>他们写道：“与其批评散户投资者及其行为模式，不如将他们纳入金钱等式。”“毕竟，下雪天被锁在家里的不仅是上班族，还有非常活跃的日内交易者，他们可以访问廉价的平台。”</blockquote></p><p> Cabin fever, however, is hardly the only factor seen driving the renewed interest in the market by individual investors.</p><p><blockquote>然而，幽居病并不是推动个人投资者对市场重新产生兴趣的唯一因素。</blockquote></p><p> <b>Leveling the field</b></p><p><blockquote><b>平整场地</b></blockquote></p><p> Some individual investors who previously shunned equities might finally be succumbing to the notion that ultralow yields on bonds and elsewhere leave little alternative to the stock market. Equities still look attractive when it comes to dividend or earnings yields, Konstantinos said.</p><p><blockquote>一些以前回避股票的个人投资者可能最终会屈服于这样一种观念，即债券和其他领域的超低收益率除了股市之外别无选择。康斯坦丁诺斯表示，就股息或盈利收益率而言，股票看起来仍然具有吸引力。</blockquote></p><p></p><p> Moreover, there’s the leveling of the playing field between institutional and individual investors over the past few decades. Regulation FD (for “full disclosure’) and other regulatory changes as well as the rise of low-fee trading platforms have put individual investors “on a closer footing to institutional investors than at any other time in history,” he said.</p><p><blockquote>此外，过去几十年来，机构投资者和个人投资者之间的竞争环境是公平的。他表示，FD监管（“全面披露”）和其他监管变化以及低费用交易平台的兴起使个人投资者“比历史上任何时候都更接近机构投资者”。</blockquote></p><p> Indeed, some market watchers have argued that the conventional branding of individual investors as the “dumb money” looks increasingly misguided, particularly after the GameStop episode showed supposedly “smart money” investors shorting more than 100% of the company’s stock, leaving them wide open to a painful short squeeze.</p><p><blockquote>事实上，一些市场观察人士认为，将个人投资者称为“愚蠢的钱”的传统品牌看起来越来越被误导，特别是在游戏驿站事件显示所谓的“聪明的钱”投资者做空了该公司100%以上的股票之后，他们陷入了困境。痛苦的轧空。</blockquote></p><p> Calvasina noted that some of the more well-known trades pursued by individual investors over the past year — buying stocks in the middle of a recession, buying airlines and cruise lines last summer, and implementing short squeezes this winter — come from a playbook that’s been largely abandoned by institutional investors over the past decade in favor of growth-, momentum- and quality-investing strategies.</p><p><blockquote>卡尔瓦西纳指出，个人投资者在过去一年中进行的一些更知名的交易——在经济衰退中购买股票、去年夏天购买航空公司和邮轮公司以及今年冬天实施空头挤压——来自过去十年，机构投资者基本上放弃了增长、动量和质量投资策略。</blockquote></p><p> On that point, highly shorted names have outperformed the market since the March 23 lows when it comes to both small- and large-cap stocks, a development that typically occurs after the market has put in a mid-recession low, she noted.</p><p><blockquote>她指出，在这一点上，自3月23日低点以来，无论是小盘股还是大盘股，被高度做空的股票的表现都优于市场，这种发展通常发生在市场陷入衰退中期低点之后。</blockquote></p><p> Still, the frenzy in retail trading that surrounded the short squeeze on GameStop and a handful of other heavily shorted small-cap stocks raised a red flag to investors on the lookout for the sort of froth that signals a rally is entering the sort of euphoric phase typically followed by a pullback.</p><p><blockquote>尽管如此，围绕游戏驿站和其他一些被严重做空的小盘股的空头挤压的散户交易的狂热向投资者发出了危险信号，他们正在寻找泡沫，这表明反弹正在进入欣快阶段。阶段通常会出现回调。</blockquote></p><p> <b>Next leg?</b></p><p><blockquote><b>下一站？</b></blockquote></p><p> While that may prove to be the case in the near term, some investors contend a sustained pickup in active individual investing interest could help drive the next leg of a bull market.</p><p><blockquote>虽然短期内情况可能会如此，但一些投资者认为，活跃的个人投资兴趣持续回升可能有助于推动牛市的下一阶段。</blockquote></p><p> Individual investors could continue to fuel interest in more value-oriented, smaller capitalization and higher volatility names, Konstantinos said.</p><p><blockquote>康斯坦丁诺斯表示，个人投资者可能会继续激发对更具价值导向、市值较小、波动性较高的股票的兴趣。</blockquote></p><p> And sustained interest in individual securities could mean more “dispersion,” or variation in returns between individual stocks and sectors, said Clissold — an element that was missing over the past decade to the pain of active fund managers.</p><p><blockquote>克里索尔德表示，对个别证券的持续兴趣可能意味着个股和行业之间回报的更多“分散”或差异——这是过去十年中让主动型基金经理痛苦的缺失因素。</blockquote></p><p> Calvasina argued that retail interest in specific stocks is likely to ebb and flow, as it has done over the past year, but probably won’t fade away.</p><p><blockquote>卡尔瓦西纳认为，散户对特定股票的兴趣可能会像过去一年那样潮起潮落，但可能不会消失。</blockquote></p><p> “Unless the door closes (i.e. through a major regulatory change), we fail to see why retail investor interest in trading specific names will completely go way given how elevated cash on the sidelines is among consumers,” she wrote.</p><p><blockquote>她写道：“除非大门关闭（即通过重大监管变化），否则考虑到消费者的观望现金水平大幅提高，我们不明白为什么散户投资者对交易特定名称的兴趣会完全消失。”</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nIndividual investors are back — here’s what it means for the stock market<blockquote>个人投资者回来了——这对股市意味着什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-08 18:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There’s more to the retail revival than GameStop</p><p><blockquote>零售业的复兴不仅仅是游戏驿站</blockquote></p><p> Look who’s back.</p><p><blockquote>看看谁回来了。</blockquote></p><p> After a long absence, active individual investors have returned. While breakneck and foolhardy trading activity in shares of GameStop Corp.GME,+19.20%has dominated the headlines, unanswered questions remain as to whether a broader resurgence in retail trading will last and what it will mean for the stock market as U.S. benchmark indexes march to all-time highs.</p><p><blockquote>久违之后，活跃的个人投资者又回来了。尽管游戏驿站公司GME(+19.20%)股票的极快和鲁莽的交易活动占据了头条新闻，但零售交易的更广泛复苏是否会持续，以及随着美国基准指数的上涨，这对股市意味着什么，这些问题仍然悬而未决。三月创下历史新高。</blockquote></p><p> <b>The comeback</b></p><p><blockquote><b>复出</b></blockquote></p><p> It’s been a long time coming.</p><p><blockquote>已经等了很久了。</blockquote></p><p> The stock market put in a historic rally over the past decade “without any prominent retail interest in it,” said Chris Konstantinos, chief investment strategist at RiverFront Investment Group, in an interview.</p><p><blockquote>RiverFront Investment Group首席投资策略师克里斯·康斯坦丁诺斯(Chris Konstantinos)在接受采访时表示，过去十年股市出现了历史性反弹，“但散户对此没有任何明显的兴趣”。</blockquote></p><p> He noted that total bond fund flows have outpaced stock flows by nearly $3 trillion since 2007. In fact, individual investors appeared interested in almost anything else, from real estate to cryptocurrencies, Konstantinos said.</p><p><blockquote>他指出，自2007年以来，债券资金流量总额已超过股票流量近3万亿美元。康斯坦丁诺斯表示，事实上，个人投资者似乎对从房地产到加密货币的几乎所有其他东西都感兴趣。</blockquote></p><p> A shift got under way last year as the coronavirus pandemic took hold. Sequential growth in accounts at brokers such as Charles Schwab Corp.SCHW,+0.98%that cater to individual investors “was remarkable” at the end of the second quarter of 2020 and was followed by a major surge in growth in the following quarter, said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, in a Feb. 2 note.</p><p><blockquote>去年，随着冠状病毒大流行的蔓延，一种转变开始了。Lori表示，2020年第二季度末，嘉信理财(Charles Schwab Corp.SCHW,+0.98%等迎合个人投资者的经纪商的账户环比增长“令人瞩目”，随后在接下来的一个季度出现大幅增长。加拿大皇家银行资本市场美国股票策略主管卡尔瓦西纳(Lori Calvasina)在2月2日的一份报告中。</blockquote></p><p> At the same time Google searches for “day trading” were also on the rise, she noted (see charts below).</p><p><blockquote>她指出，与此同时，谷歌上“日内交易”的搜索量也在上升（见下图）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abaf0f0e954b8c180c43870b72f55252\" tg-width=\"1260\" tg-height=\"655\"><span>RBC CAPITAL MARKETS</span></p><p><blockquote><p class=\"t-img-caption\"><span>加拿大皇家银行资本市场</span></p></blockquote></p><p> Calvasina and others acknowledged that a combination of lockdown-related boredom and stimulus checks from the U.S. government likely played a role in the uptick in individual investing interest.</p><p><blockquote>卡尔瓦西纳和其他人承认，与封锁相关的无聊和美国政府的刺激检查的结合可能在个人投资兴趣的上升中发挥了作用。</blockquote></p><p> The jury is out on whether that enthusiasm will endure, said Ed Clissold, chief U.S. strategist at Ned Davis Research Group, in an interview. It’s unclear how much of the pickup in retail trading merely reflects individuals throwing extra money via stimulus checks at the market, he said.</p><p><blockquote>Ned Davis Research Group首席美国策略师Ed Clissold在接受采访时表示，这种热情是否会持续还没有定论。他说，目前尚不清楚零售交易的回升有多少仅仅反映了个人通过刺激支票向市场投入额外资金。</blockquote></p><p> That sort of trading feels more like gambling than investing, he said, noting that “frothy” market action tends to fade quickly away.</p><p><blockquote>他说，这种交易感觉更像是赌博而不是投资，并指出“泡沫”市场行为往往会很快消失。</blockquote></p><p> No doubt, day traders who jumped on the GameStop rally in a big way and listened to pleas on Reddit’s WallStreetBets forum to hold the line were left to suffer ugly losses. Some market watchers fear that the bubble-like activity in so-called meme stocks could end up scaring away individual investors, nipping any resurgence in the bud.</p><p><blockquote>毫无疑问，那些在游戏驿站反弹中大举买入并听取Reddit WallStreetBets论坛上坚持己见的日内交易者将遭受惨重的损失。一些市场观察人士担心，所谓模因股票的泡沫般的活动最终可能会吓跑个人投资者，将任何复苏扼杀在萌芽状态。</blockquote></p><p> But others argued that many individual investors, whose ranks aren’t made up soley of rapid-fire day traders, were likely to stick around.</p><p><blockquote>但其他人则认为，许多个人投资者可能会留下来，他们的队伍不仅仅是快速的日内交易者。</blockquote></p><p> <b>‘Structural change’</b></p><p><blockquote><b>“结构性变化”</b></blockquote></p><p> Calvasina said RBC suspects a “structural change may be afoot and that retail investors are likely to remain bigger players in the U.S. equity market going forward.”</p><p><blockquote>卡尔瓦西纳表示，加拿大皇家银行怀疑“结构性变化可能正在发生，散户投资者未来可能仍将是美国股市中更大的参与者。”</blockquote></p><p> If so, that will require an attitude adjustment by Wall Street pros, who got used to paying little attention to individual investors.</p><p><blockquote>如果是这样，这将需要华尔街专业人士调整态度，他们习惯于很少关注个人投资者。</blockquote></p><p> After all, powerful waves of passive and systematic investment had rendered individual investors largely irrelevant to analysts cooking up market forecasts, wrote strategists at Société Générale, in a Thursday note.</p><p><blockquote>法国兴业银行策略师在周四的一份报告中写道，毕竟，强大的被动和系统性投资浪潮使个人投资者在很大程度上与分析师炮制市场预测无关。</blockquote></p><p> But the market volatility created by the GameStop situation served as a wake-up call, the analysts said.</p><p><blockquote>但分析师表示，游戏驿站局势造成的市场波动是一个唤醒看涨期权。</blockquote></p><p> While GameStop and other heavily shorted names soared, hedge funds and other investors were seen liquidating long positions elsewhere, to take profits and cover losses, putting pressure on equities markets. Major benchmarks ended January on a sour note, with the Dow Jones Industrial AverageDJIA,+0.30%,S&amp;P 500SPX,+0.39%and Nasdaq CompositeCOMP,+0.57%logging their largest weekly declines since October.</p><p><blockquote>尽管游戏驿站和其他被严重做空的公司股价飙升，但对冲基金和其他投资者却在其他地方平仓多头头寸，以获利了结并弥补损失，给股市带来压力。主要基准指数1月份收盘表现不佳，道琼斯工业平均指数DJIA上涨0.30%，标准普尔500SPX上涨0.39%，纳斯达克综合指数上涨0.57%，创下10月份以来的最大单周跌幅。</blockquote></p><p> U.S. stocks roared back in the past week, however, with the S&amp;P 500 and Nasdaqscoring all-time highsas GameStop tumbled more than 80%.</p><p><blockquote>然而，美国股市在过去一周大幅反弹，标普500和纳斯达克指数创下历史新高，而游戏驿站则暴跌超过80%。</blockquote></p><p> The SocGen analysts said increased retail interest in the markets is part of a broader trend that has seen individual investors driving demand for investments that take environmental, social and corporate governance, or ESG, standards into account.</p><p><blockquote>法国兴业银行分析师表示，散户对市场兴趣的增加是更广泛趋势的一部分，个人投资者推动了对考虑环境、社会和公司治理（ESG）标准的投资的需求。</blockquote></p><p> “Rather than criticizing retail investors and their behavioral pattens, it is better to slot them into the money equation,” they wrote. “After all, it is not only office workers who are locked down at home on snowy days but also very active day traders with access to inexpensive platforms.”</p><p><blockquote>他们写道：“与其批评散户投资者及其行为模式，不如将他们纳入金钱等式。”“毕竟，下雪天被锁在家里的不仅是上班族，还有非常活跃的日内交易者，他们可以访问廉价的平台。”</blockquote></p><p> Cabin fever, however, is hardly the only factor seen driving the renewed interest in the market by individual investors.</p><p><blockquote>然而，幽居病并不是推动个人投资者对市场重新产生兴趣的唯一因素。</blockquote></p><p> <b>Leveling the field</b></p><p><blockquote><b>平整场地</b></blockquote></p><p> Some individual investors who previously shunned equities might finally be succumbing to the notion that ultralow yields on bonds and elsewhere leave little alternative to the stock market. Equities still look attractive when it comes to dividend or earnings yields, Konstantinos said.</p><p><blockquote>一些以前回避股票的个人投资者可能最终会屈服于这样一种观念，即债券和其他领域的超低收益率除了股市之外别无选择。康斯坦丁诺斯表示，就股息或盈利收益率而言，股票看起来仍然具有吸引力。</blockquote></p><p></p><p> Moreover, there’s the leveling of the playing field between institutional and individual investors over the past few decades. Regulation FD (for “full disclosure’) and other regulatory changes as well as the rise of low-fee trading platforms have put individual investors “on a closer footing to institutional investors than at any other time in history,” he said.</p><p><blockquote>此外，过去几十年来，机构投资者和个人投资者之间的竞争环境是公平的。他表示，FD监管（“全面披露”）和其他监管变化以及低费用交易平台的兴起使个人投资者“比历史上任何时候都更接近机构投资者”。</blockquote></p><p> Indeed, some market watchers have argued that the conventional branding of individual investors as the “dumb money” looks increasingly misguided, particularly after the GameStop episode showed supposedly “smart money” investors shorting more than 100% of the company’s stock, leaving them wide open to a painful short squeeze.</p><p><blockquote>事实上，一些市场观察人士认为，将个人投资者称为“愚蠢的钱”的传统品牌看起来越来越被误导，特别是在游戏驿站事件显示所谓的“聪明的钱”投资者做空了该公司100%以上的股票之后，他们陷入了困境。痛苦的轧空。</blockquote></p><p> Calvasina noted that some of the more well-known trades pursued by individual investors over the past year — buying stocks in the middle of a recession, buying airlines and cruise lines last summer, and implementing short squeezes this winter — come from a playbook that’s been largely abandoned by institutional investors over the past decade in favor of growth-, momentum- and quality-investing strategies.</p><p><blockquote>卡尔瓦西纳指出，个人投资者在过去一年中进行的一些更知名的交易——在经济衰退中购买股票、去年夏天购买航空公司和邮轮公司以及今年冬天实施空头挤压——来自过去十年，机构投资者基本上放弃了增长、动量和质量投资策略。</blockquote></p><p> On that point, highly shorted names have outperformed the market since the March 23 lows when it comes to both small- and large-cap stocks, a development that typically occurs after the market has put in a mid-recession low, she noted.</p><p><blockquote>她指出，在这一点上，自3月23日低点以来，无论是小盘股还是大盘股，被高度做空的股票的表现都优于市场，这种发展通常发生在市场陷入衰退中期低点之后。</blockquote></p><p> Still, the frenzy in retail trading that surrounded the short squeeze on GameStop and a handful of other heavily shorted small-cap stocks raised a red flag to investors on the lookout for the sort of froth that signals a rally is entering the sort of euphoric phase typically followed by a pullback.</p><p><blockquote>尽管如此，围绕游戏驿站和其他一些被严重做空的小盘股的空头挤压的散户交易的狂热向投资者发出了危险信号，他们正在寻找泡沫，这表明反弹正在进入欣快阶段。阶段通常会出现回调。</blockquote></p><p> <b>Next leg?</b></p><p><blockquote><b>下一站？</b></blockquote></p><p> While that may prove to be the case in the near term, some investors contend a sustained pickup in active individual investing interest could help drive the next leg of a bull market.</p><p><blockquote>虽然短期内情况可能会如此，但一些投资者认为，活跃的个人投资兴趣持续回升可能有助于推动牛市的下一阶段。</blockquote></p><p> Individual investors could continue to fuel interest in more value-oriented, smaller capitalization and higher volatility names, Konstantinos said.</p><p><blockquote>康斯坦丁诺斯表示，个人投资者可能会继续激发对更具价值导向、市值较小、波动性较高的股票的兴趣。</blockquote></p><p> And sustained interest in individual securities could mean more “dispersion,” or variation in returns between individual stocks and sectors, said Clissold — an element that was missing over the past decade to the pain of active fund managers.</p><p><blockquote>克里索尔德表示，对个别证券的持续兴趣可能意味着个股和行业之间回报的更多“分散”或差异——这是过去十年中让主动型基金经理痛苦的缺失因素。</blockquote></p><p> Calvasina argued that retail interest in specific stocks is likely to ebb and flow, as it has done over the past year, but probably won’t fade away.</p><p><blockquote>卡尔瓦西纳认为，散户对特定股票的兴趣可能会像过去一年那样潮起潮落，但可能不会消失。</blockquote></p><p> “Unless the door closes (i.e. through a major regulatory change), we fail to see why retail investor interest in trading specific names will completely go way given how elevated cash on the sidelines is among consumers,” she wrote.</p><p><blockquote>她写道：“除非大门关闭（即通过重大监管变化），否则考虑到消费者的观望现金水平大幅提高，我们不明白为什么散户投资者对交易特定名称的兴趣会完全消失。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/individual-investors-are-back-heres-what-it-means-for-the-stock-market-11612557558?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/individual-investors-are-back-heres-what-it-means-for-the-stock-market-11612557558?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1105339151","content_text":"There’s more to the retail revival than GameStop\nLook who’s back.\nAfter a long absence, active individual investors have returned. While breakneck and foolhardy trading activity in shares of GameStop Corp.GME,+19.20%has dominated the headlines, unanswered questions remain as to whether a broader resurgence in retail trading will last and what it will mean for the stock market as U.S. benchmark indexes march to all-time highs.\nThe comeback\nIt’s been a long time coming.\nThe stock market put in a historic rally over the past decade “without any prominent retail interest in it,” said Chris Konstantinos, chief investment strategist at RiverFront Investment Group, in an interview.\nHe noted that total bond fund flows have outpaced stock flows by nearly $3 trillion since 2007. In fact, individual investors appeared interested in almost anything else, from real estate to cryptocurrencies, Konstantinos said.\nA shift got under way last year as the coronavirus pandemic took hold. Sequential growth in accounts at brokers such as Charles Schwab Corp.SCHW,+0.98%that cater to individual investors “was remarkable” at the end of the second quarter of 2020 and was followed by a major surge in growth in the following quarter, said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, in a Feb. 2 note.\nAt the same time Google searches for “day trading” were also on the rise, she noted (see charts below).\nRBC CAPITAL MARKETS\nCalvasina and others acknowledged that a combination of lockdown-related boredom and stimulus checks from the U.S. government likely played a role in the uptick in individual investing interest.\nThe jury is out on whether that enthusiasm will endure, said Ed Clissold, chief U.S. strategist at Ned Davis Research Group, in an interview. It’s unclear how much of the pickup in retail trading merely reflects individuals throwing extra money via stimulus checks at the market, he said.\nThat sort of trading feels more like gambling than investing, he said, noting that “frothy” market action tends to fade quickly away.\nNo doubt, day traders who jumped on the GameStop rally in a big way and listened to pleas on Reddit’s WallStreetBets forum to hold the line were left to suffer ugly losses. Some market watchers fear that the bubble-like activity in so-called meme stocks could end up scaring away individual investors, nipping any resurgence in the bud.\nBut others argued that many individual investors, whose ranks aren’t made up soley of rapid-fire day traders, were likely to stick around.\n‘Structural change’\nCalvasina said RBC suspects a “structural change may be afoot and that retail investors are likely to remain bigger players in the U.S. equity market going forward.”\nIf so, that will require an attitude adjustment by Wall Street pros, who got used to paying little attention to individual investors.\nAfter all, powerful waves of passive and systematic investment had rendered individual investors largely irrelevant to analysts cooking up market forecasts, wrote strategists at Société Générale, in a Thursday note.\nBut the market volatility created by the GameStop situation served as a wake-up call, the analysts said.\nWhile GameStop and other heavily shorted names soared, hedge funds and other investors were seen liquidating long positions elsewhere, to take profits and cover losses, putting pressure on equities markets. Major benchmarks ended January on a sour note, with the Dow Jones Industrial AverageDJIA,+0.30%,S&P 500SPX,+0.39%and Nasdaq CompositeCOMP,+0.57%logging their largest weekly declines since October.\nU.S. stocks roared back in the past week, however, with the S&P 500 and Nasdaqscoring all-time highsas GameStop tumbled more than 80%.\nThe SocGen analysts said increased retail interest in the markets is part of a broader trend that has seen individual investors driving demand for investments that take environmental, social and corporate governance, or ESG, standards into account.\n“Rather than criticizing retail investors and their behavioral pattens, it is better to slot them into the money equation,” they wrote. “After all, it is not only office workers who are locked down at home on snowy days but also very active day traders with access to inexpensive platforms.”\nCabin fever, however, is hardly the only factor seen driving the renewed interest in the market by individual investors.\nLeveling the field\nSome individual investors who previously shunned equities might finally be succumbing to the notion that ultralow yields on bonds and elsewhere leave little alternative to the stock market. Equities still look attractive when it comes to dividend or earnings yields, Konstantinos said.\nMoreover, there’s the leveling of the playing field between institutional and individual investors over the past few decades. Regulation FD (for “full disclosure’) and other regulatory changes as well as the rise of low-fee trading platforms have put individual investors “on a closer footing to institutional investors than at any other time in history,” he said.\nIndeed, some market watchers have argued that the conventional branding of individual investors as the “dumb money” looks increasingly misguided, particularly after the GameStop episode showed supposedly “smart money” investors shorting more than 100% of the company’s stock, leaving them wide open to a painful short squeeze.\nCalvasina noted that some of the more well-known trades pursued by individual investors over the past year — buying stocks in the middle of a recession, buying airlines and cruise lines last summer, and implementing short squeezes this winter — come from a playbook that’s been largely abandoned by institutional investors over the past decade in favor of growth-, momentum- and quality-investing strategies.\nOn that point, highly shorted names have outperformed the market since the March 23 lows when it comes to both small- and large-cap stocks, a development that typically occurs after the market has put in a mid-recession low, she noted.\nStill, the frenzy in retail trading that surrounded the short squeeze on GameStop and a handful of other heavily shorted small-cap stocks raised a red flag to investors on the lookout for the sort of froth that signals a rally is entering the sort of euphoric phase typically followed by a pullback.\nNext leg?\nWhile that may prove to be the case in the near term, some investors contend a sustained pickup in active individual investing interest could help drive the next leg of a bull market.\nIndividual investors could continue to fuel interest in more value-oriented, smaller capitalization and higher volatility names, Konstantinos said.\nAnd sustained interest in individual securities could mean more “dispersion,” or variation in returns between individual stocks and sectors, said Clissold — an element that was missing over the past decade to the pain of active fund managers.\nCalvasina argued that retail interest in specific stocks is likely to ebb and flow, as it has done over the past year, but probably won’t fade away.\n“Unless the door closes (i.e. through a major regulatory change), we fail to see why retail investor interest in trading specific names will completely go way given how elevated cash on the sidelines is among consumers,” she wrote.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"GME":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}