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2021-12-13

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2021-11-23

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Dick’s Sporting Goods reports strong Q3 earnings<blockquote>迪克体育用品公司公布强劲的第三季度收益</blockquote>

2021-11-18

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2021-10-25

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2021-10-08

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Undervalued Corsair Gaming: a Meme Stock That Isn't One?<blockquote>被低估的海盗船游戏：一只不是的模因股票？</blockquote>

2021-09-17

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Apple Stock To Crumble Along With S&P 500, Says One Expert<blockquote>一位专家表示，苹果股票将与标普500一起崩溃</blockquote>

2021-08-25

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2021-08-19

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How to Hedge Your Stock Portfolio Before Interest Rates Start Rising<blockquote>如何在利率开始上升之前对冲您的股票投资组合</blockquote>

2021-07-30

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2021-07-28

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2021-07-26

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2021-07-22

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Delta Variant Can Still Clip U.S. Economy’s Wings<blockquote>德尔塔变异毒株仍然可以夹住美国经济的翅膀</blockquote>

2021-07-21

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2021-07-19

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Morgan Stanley: This Cycle Will Be "Hotter But Shorter" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>

2021-07-18

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2021-07-16

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Oil Heads for Biggest Weekly Loss Since March on Virus Comeback<blockquote>由于病毒卷土重来，油价将创下三月份以来最大单周跌幅</blockquote>

2021-07-13

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2021-07-12

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2021-07-09

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2021-07-07

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Consolidated same store sales for the quarter increased 12.2 percent.</p><p><blockquote>迪克体育用品公司第三季度的净销售额为27.5亿美元，比2020年第三季度增长13.9%，比2019年第三季度增长40%。该季度的综合同店销售额增长了12.2%。</blockquote></p><p> “We are extremely pleased to announce a record third quarter in which we delivered significant sales and earnings growth over both last year and 2019. Consumer demand remained strong, and our differentiated product assortment continued to drive exceptional sales and merchandise margin momentum,” said Lauren Hobart, the company’s president and chief executive officer.</p><p><blockquote>劳伦表示：“我们非常高兴地宣布，第三季度实现了创纪录的销售额和盈利增长，比去年和2019年都实现了显着的增长。消费者需求依然强劲，我们差异化的产品组合继续推动出色的销售和商品利润率势头。”霍巴特，公司总裁兼首席执行官。</blockquote></p><p> Dick’s Sporting Goods reports rise in Q3 earnings</p><p><blockquote>迪克体育用品公司报告第三季度盈利增长</blockquote></p><p> The company’s ecommerce sales increased 97 percent compared to the third quarter of 2019 and 1 percent compared to the third quarter of 2020.</p><p><blockquote>与2019年第三季度相比，该公司的电子商务销售额增长了97%，与2020年第三季度相比增长了1%。</blockquote></p><p> Driven by strong sales and gross margin rate expansion, the company reported consolidated net income of 316.5 million dollars or 2.78 dollars per diluted share compared to 177.2 million dollars or 1.84 dollars per diluted share last year. The company reported consolidated net income for the third quarter of fiscal 2019 of 57.6 million dollars or 66 cents per diluted share.</p><p><blockquote>在强劲的销售和毛利率扩张的推动下，该公司报告的合并净利润为3.165亿美元，即每股摊薄2.78美元，而去年为1.772亿美元，即每股摊薄1.84美元。该公司报告2019财年第三季度合并净利润为5760万美元，即稀释后每股收益66美分。</blockquote></p><p> On a non-GAAP basis, the company reported consolidated net income for the quarter ended October 30, 2021 of 322.2 million dollars or 3.19 dollars per diluted share compared to 182.2 million dollars or 2.01 dollars per diluted share, for the quarter ended October 31, 2020.</p><p><blockquote>在非GAAP基础上，该公司报告截至2021年10月30日的季度合并净利润为3.222亿美元，即每股摊薄3.19美元，而截至2020年10月31日的季度为1.822亿美元，即每股摊薄2.01美元。</blockquote></p><p> Dick’s Sporting Goods net sales increase 38.4 percent for nine-months</p><p><blockquote>迪克体育用品净销售额九个月增长38.4%</blockquote></p><p> Net sales for the 39 weeks ended October 30, 2021 were 8.94 billion dollars, an increase of 38.4 percent compared to the 39 weeks ended October 31, 2020 and a 45.6 percent increase compared to the 39 weeks ended November 2, 2019. Consolidated same store sales increased 36.6 percent compared to the 2020 period, which followed a consolidated same store sales increase of 5.8 percent for the 2020 period and a 3.1 percent increase for the 2019 period.</p><p><blockquote>截至2021年10月30日的39周净销售额为89.4亿美元，与截至2020年10月31日的39周相比增长38.4%，与截至2019年11月2日的39周相比增长45.6%。与2020年同期相比，综合同店销售额增长了36.6%，此前2020年同期的综合同店销售额增长了5.8%，2019年同期增长了3.1%。</blockquote></p><p> Ecommerce sales increased 115 percent compared to 2019 but decreased 8 percent compared to the 39 weeks ended October 31, 2020, which included a period of temporary store closures in March, April and May.</p><p><blockquote>与2019年相比，电子商务销售额增长了115%，但与截至2020年10月31日的39周相比下降了8%，其中包括3月、4月和5月的临时商店关闭期。</blockquote></p><p> The company reported consolidated net income of 1.17 billion dollars or 10.70 dollars per diluted share, compared to 310.6 million dollars or 3.44 dollars per diluted share. The company reported consolidated net income for the 39 weeks ended November 2, 2019 of 227.6 million dollars or 2.53 dollars per diluted share.</p><p><blockquote>该公司报告的合并净利润为11.7亿美元，即稀释后每股10.70美元，而合并净利润为3.106亿美元，即稀释后每股3.44美元。该公司报告截至2019年11月2日的39周合并净利润为2.276亿美元，即稀释后每股2.53美元。</blockquote></p><p> On a non-GAAP basis, the company reported consolidated net income of 1.19 billion dollars or 12.06 dollars per diluted share, for the 39 weeks ended October 30, 2021, and 321.3 million dollars or 3.65 dollars per diluted share, for the 39 weeks ended October 31, 2020. For the 39 weeks ended November 2, 2019, the company reported non-GAAP consolidated net income of 215.8 million dollars or 2.39 dollars per diluted share.</p><p><blockquote>在非GAAP基础上，该公司报告截至2021年10月30日的39周合并净利润为11.9亿美元或稀释后每股12.06美元，截至2021年10月30日的39周合并净利润为3.213亿美元或稀释后每股3.65美元。2020年10月31日。截至2019年11月2日的39周内，该公司报告的非GAAP合并净利润为2.158亿美元，即稀释后每股收益2.39美元。</blockquote></p><p></p>","source":"lsy1637673370523","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>Dick’s Sporting Goods reports strong Q3 earnings<blockquote>迪克体育用品公司公布强劲的第三季度收益</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\">\nDick’s Sporting Goods reports strong Q3 earnings<blockquote>迪克体育用品公司公布强劲的第三季度收益</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">fashionunited</strong><span class=\"h-time small\">2021-11-23 21:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Net sales for the third quarter at Dick’s Sporting Goods were 2.75 billion dollars, an increase of 13.9 percent compared to the third quarter of 2020 and a 40 percent increase compared to the third quarter of 2019. Consolidated same store sales for the quarter increased 12.2 percent.</p><p><blockquote>迪克体育用品公司第三季度的净销售额为27.5亿美元，比2020年第三季度增长13.9%，比2019年第三季度增长40%。该季度的综合同店销售额增长了12.2%。</blockquote></p><p> “We are extremely pleased to announce a record third quarter in which we delivered significant sales and earnings growth over both last year and 2019. Consumer demand remained strong, and our differentiated product assortment continued to drive exceptional sales and merchandise margin momentum,” said Lauren Hobart, the company’s president and chief executive officer.</p><p><blockquote>劳伦表示：“我们非常高兴地宣布，第三季度实现了创纪录的销售额和盈利增长，比去年和2019年都实现了显着的增长。消费者需求依然强劲，我们差异化的产品组合继续推动出色的销售和商品利润率势头。”霍巴特，公司总裁兼首席执行官。</blockquote></p><p> Dick’s Sporting Goods reports rise in Q3 earnings</p><p><blockquote>迪克体育用品公司报告第三季度盈利增长</blockquote></p><p> The company’s ecommerce sales increased 97 percent compared to the third quarter of 2019 and 1 percent compared to the third quarter of 2020.</p><p><blockquote>与2019年第三季度相比，该公司的电子商务销售额增长了97%，与2020年第三季度相比增长了1%。</blockquote></p><p> Driven by strong sales and gross margin rate expansion, the company reported consolidated net income of 316.5 million dollars or 2.78 dollars per diluted share compared to 177.2 million dollars or 1.84 dollars per diluted share last year. The company reported consolidated net income for the third quarter of fiscal 2019 of 57.6 million dollars or 66 cents per diluted share.</p><p><blockquote>在强劲的销售和毛利率扩张的推动下，该公司报告的合并净利润为3.165亿美元，即每股摊薄2.78美元，而去年为1.772亿美元，即每股摊薄1.84美元。该公司报告2019财年第三季度合并净利润为5760万美元，即稀释后每股收益66美分。</blockquote></p><p> On a non-GAAP basis, the company reported consolidated net income for the quarter ended October 30, 2021 of 322.2 million dollars or 3.19 dollars per diluted share compared to 182.2 million dollars or 2.01 dollars per diluted share, for the quarter ended October 31, 2020.</p><p><blockquote>在非GAAP基础上，该公司报告截至2021年10月30日的季度合并净利润为3.222亿美元，即每股摊薄3.19美元，而截至2020年10月31日的季度为1.822亿美元，即每股摊薄2.01美元。</blockquote></p><p> Dick’s Sporting Goods net sales increase 38.4 percent for nine-months</p><p><blockquote>迪克体育用品净销售额九个月增长38.4%</blockquote></p><p> Net sales for the 39 weeks ended October 30, 2021 were 8.94 billion dollars, an increase of 38.4 percent compared to the 39 weeks ended October 31, 2020 and a 45.6 percent increase compared to the 39 weeks ended November 2, 2019. Consolidated same store sales increased 36.6 percent compared to the 2020 period, which followed a consolidated same store sales increase of 5.8 percent for the 2020 period and a 3.1 percent increase for the 2019 period.</p><p><blockquote>截至2021年10月30日的39周净销售额为89.4亿美元，与截至2020年10月31日的39周相比增长38.4%，与截至2019年11月2日的39周相比增长45.6%。与2020年同期相比，综合同店销售额增长了36.6%，此前2020年同期的综合同店销售额增长了5.8%，2019年同期增长了3.1%。</blockquote></p><p> Ecommerce sales increased 115 percent compared to 2019 but decreased 8 percent compared to the 39 weeks ended October 31, 2020, which included a period of temporary store closures in March, April and May.</p><p><blockquote>与2019年相比，电子商务销售额增长了115%，但与截至2020年10月31日的39周相比下降了8%，其中包括3月、4月和5月的临时商店关闭期。</blockquote></p><p> The company reported consolidated net income of 1.17 billion dollars or 10.70 dollars per diluted share, compared to 310.6 million dollars or 3.44 dollars per diluted share. The company reported consolidated net income for the 39 weeks ended November 2, 2019 of 227.6 million dollars or 2.53 dollars per diluted share.</p><p><blockquote>该公司报告的合并净利润为11.7亿美元，即稀释后每股10.70美元，而合并净利润为3.106亿美元，即稀释后每股3.44美元。该公司报告截至2019年11月2日的39周合并净利润为2.276亿美元，即稀释后每股2.53美元。</blockquote></p><p> On a non-GAAP basis, the company reported consolidated net income of 1.19 billion dollars or 12.06 dollars per diluted share, for the 39 weeks ended October 30, 2021, and 321.3 million dollars or 3.65 dollars per diluted share, for the 39 weeks ended October 31, 2020. For the 39 weeks ended November 2, 2019, the company reported non-GAAP consolidated net income of 215.8 million dollars or 2.39 dollars per diluted share.</p><p><blockquote>在非GAAP基础上，该公司报告截至2021年10月30日的39周合并净利润为11.9亿美元或稀释后每股12.06美元，截至2021年10月30日的39周合并净利润为3.213亿美元或稀释后每股3.65美元。2020年10月31日。截至2019年11月2日的39周内，该公司报告的非GAAP合并净利润为2.158亿美元，即稀释后每股收益2.39美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://fashionunited.uk/news/business/dick-s-sporting-goods-reports-strong-q3-earnings/2021112359536\">fashionunited</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":{"DKS":"迪克体育用品"},"source_url":"https://fashionunited.uk/news/business/dick-s-sporting-goods-reports-strong-q3-earnings/2021112359536","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177043452","content_text":"Net sales for the third quarter at Dick’s Sporting Goods were 2.75 billion dollars, an increase of 13.9 percent compared to the third quarter of 2020 and a 40 percent increase compared to the third quarter of 2019. Consolidated same store sales for the quarter increased 12.2 percent.\n“We are extremely pleased to announce a record third quarter in which we delivered significant sales and earnings growth over both last year and 2019. Consumer demand remained strong, and our differentiated product assortment continued to drive exceptional sales and merchandise margin momentum,” said Lauren Hobart, the company’s president and chief executive officer.\nDick’s Sporting Goods reports rise in Q3 earnings\nThe company’s ecommerce sales increased 97 percent compared to the third quarter of 2019 and 1 percent compared to the third quarter of 2020.\nDriven by strong sales and gross margin rate expansion, the company reported consolidated net income of 316.5 million dollars or 2.78 dollars per diluted share compared to 177.2 million dollars or 1.84 dollars per diluted share last year. The company reported consolidated net income for the third quarter of fiscal 2019 of 57.6 million dollars or 66 cents per diluted share.\nOn a non-GAAP basis, the company reported consolidated net income for the quarter ended October 30, 2021 of 322.2 million dollars or 3.19 dollars per diluted share compared to 182.2 million dollars or 2.01 dollars per diluted share, for the quarter ended October 31, 2020.\nDick’s Sporting Goods net sales increase 38.4 percent for nine-months\nNet sales for the 39 weeks ended October 30, 2021 were 8.94 billion dollars, an increase of 38.4 percent compared to the 39 weeks ended October 31, 2020 and a 45.6 percent increase compared to the 39 weeks ended November 2, 2019. Consolidated same store sales increased 36.6 percent compared to the 2020 period, which followed a consolidated same store sales increase of 5.8 percent for the 2020 period and a 3.1 percent increase for the 2019 period.\nEcommerce sales increased 115 percent compared to 2019 but decreased 8 percent compared to the 39 weeks ended October 31, 2020, which included a period of temporary store closures in March, April and May.\nThe company reported consolidated net income of 1.17 billion dollars or 10.70 dollars per diluted share, compared to 310.6 million dollars or 3.44 dollars per diluted share. The company reported consolidated net income for the 39 weeks ended November 2, 2019 of 227.6 million dollars or 2.53 dollars per diluted share.\nOn a non-GAAP basis, the company reported consolidated net income of 1.19 billion dollars or 12.06 dollars per diluted share, for the 39 weeks ended October 30, 2021, and 321.3 million dollars or 3.65 dollars per diluted share, for the 39 weeks ended October 31, 2020. For the 39 weeks ended November 2, 2019, the company reported non-GAAP consolidated net income of 215.8 million dollars or 2.39 dollars per diluted share.","news_type":1,"symbols_score_info":{"DKS":0.9}},"isVote":1,"tweetType":1,"viewCount":2477,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":878728499,"gmtCreate":1637235751614,"gmtModify":1637235751716,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"I love this and like my post&nbsp;","listText":"I love this and like my post&nbsp;","text":"I love this and like my post","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/878728499","repostId":"1123139623","repostType":4,"isVote":1,"tweetType":1,"viewCount":3319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":856944355,"gmtCreate":1635146449498,"gmtModify":1635146449874,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/856944355","repostId":"2178302447","repostType":4,"isVote":1,"tweetType":1,"viewCount":2183,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823545765,"gmtCreate":1633651576864,"gmtModify":1633651577190,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/823545765","repostId":"1142831373","repostType":4,"repost":{"id":"1142831373","kind":"news","pubTimestamp":1633650912,"share":"https://www.laohu8.com/m/news/1142831373?lang=zh_CN&edition=full","pubTime":"2021-10-08 07:55","market":"us","language":"en","title":"Undervalued Corsair Gaming: a Meme Stock That Isn't One?<blockquote>被低估的海盗船游戏：一只不是的模因股票？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142831373","media":"TheStreet","summary":"According to Wall Street, Corsair Gaming stock is far from its fair value and investors should expec","content":"<p>According to Wall Street, Corsair Gaming stock is far from its fair value and investors should expect gains ahead. Wall Street Memes discusses the opportunity.</p><p><blockquote>据华尔街称，海盗船博彩公司的股票远未达到其公允价值，投资者应该预计未来会上涨。华尔街迷因讨论了这个机会。</blockquote></p><p> Corsair Gaming stock&nbsp;shares one key feature with the likes of AMC and GameStop: they have been very popular on the main discussion boards lately. However, business fundamentals and recent price action suggest that CRSR does not quite deserve the label “meme stock”.</p><p><blockquote>Corsair Gaming股票与AMC和游戏驿站等公司有一个共同的关键特征：它们最近在主要讨论板上非常受欢迎。然而，商业基本面和最近的价格走势表明，CRSR并不完全配得上“模因股票”的标签。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b4524f69dcb99f2a1c856c0c42af1061\" tg-width=\"1240\" tg-height=\"698\" width=\"100%\" height=\"auto\"><span>Figure 1: Corsair gaming PC.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：海盗船游戏电脑。</span></p></blockquote></p><p> CRSR probably draws the attention of the Reddit crowd due to its very high short interest of 37% of the float, along with cheap valuations. Partly for these reasons, Wall Street analysts have been calling for significant upside potential in Corsair stock, as we detail below.</p><p><blockquote>CRSR可能会引起Reddit人群的注意，因为它的空头利息非常高，占流通量的37%，而且估值低廉。部分出于这些原因，华尔街分析师一直呼吁海盗船股票具有巨大的上涨潜力，我们将在下面详细介绍。</blockquote></p><p> <b>Bullishness despite earnings miss</b></p><p><blockquote><b>尽管盈利未达预期，但仍保持乐观</b></blockquote></p><p> Based on four reports in the last 2 months, Corsair stock has a&nbsp;consensus&nbsp;share price target of $39, which implies 52% upside from current levels. Three out of four analysts rate the stock a buy, while one of them holds a neutral stance.</p><p><blockquote>根据过去两个月的四份报告，Corsair股票的一致股价目标为39美元，这意味着较当前水平上涨52%。四分之三的分析师将该股评级为买入，其中一名分析师持中性立场。</blockquote></p><p> Despite advocating for 63% upside potential and a buy recommendation,<b>Barclays</b>&nbsp;analyst Mario Lu&nbsp;lowered&nbsp;his price target to $42 from $47 recently. The second quarter earnings miss weighed on his price projection, especially due to lack of guidance. However, he highlighted that Corsair gained share in the components category in Q2 and maintaining share in peripherals, while the entire industry faced increasing shipping costs.</p><p><blockquote>尽管主张63%的上涨潜力并给予买入建议，<b>巴克莱银行</b>分析师Mario Lu最近将目标价从47美元下调至42美元。第二季度盈利不佳影响了他的价格预测，特别是由于缺乏指导。然而，他强调，Corsair在第二季度获得了组件类别的份额，并保持了外围设备的份额，而整个行业面临着不断增加的运输成本。</blockquote></p><p> <b>Baird</b>&nbsp;analyst Colin Sebastian was another who&nbsp;lowered&nbsp;the firm's price target to $38 from $48. The analyst still recommends a buy based on longer-term prospects. The pros of investing, which include new product introductions and direct-to-consumer opportunities, outweigh the current supply chain bottlenecks and higher logistics and freight costs.</p><p><blockquote><b>贝尔德</b>分析师科林·塞巴斯蒂安(Colin Sebastian)是另一位将该公司目标价从48美元下调至38美元的人。基于长期前景，分析师仍建议买入。投资的好处包括新产品推出和直接面向消费者的机会，超过了当前的供应链瓶颈以及更高的物流和货运成本。</blockquote></p><p> The last bull on the radar is&nbsp;<b>Wedbush</b>’s Michael Pachter. The analyst&nbsp;pulled back&nbsp;on his very bullish $55 price target but maintained his buy recommendation, following Corsair second quarter earnings results miss. Still, the analyst sees upside potential of over 70%.</p><p><blockquote>雷达上的最后一头公牛是<b>韦德布什</b>迈克尔·帕切特。在Corsair第二季度盈利业绩未达预期后，该分析师下调了非常乐观的55美元目标价，但维持了买入建议。尽管如此，分析师仍认为上涨潜力超过70%。</blockquote></p><p> The skeptical one is&nbsp;<b>Credit Suisse’</b>s Matthew Cabral, who&nbsp;lowered&nbsp;his price target to $31 from $43 and also downgraded the stock from buy to neutral. Weighing on his decision were a revenue and EBITDA misses, while Gaming and Creator Peripherals sales growth decelerated. The analyst suggested that fading tailwinds from the stay-at-home days impacted Corsair’s demand.</p><p><blockquote>持怀疑态度的是<b>瑞士信贷</b>马修·卡布拉尔(Matthew Cabral)将目标价从43美元下调至31美元，并将该股评级从买入下调至中性。影响他决定的是收入和EBITDA未达预期，而游戏和创作者外设销售增长放缓。这位分析师表示，居家日的顺风减弱影响了海盗船的需求。</blockquote></p><p> <b>Wall Street Memes view</b></p><p><blockquote><b>华尔街模因视图</b></blockquote></p><p> Even with a slightly miss on second quarter results, Corsair Gaming remained a solid bet in the eyes of Wall Street experts. Trailing P/E of 14 times compares favorably to an average P/E of 25 times in the gaming industry. Considering solid growth opportunities – global gaming is expected to reach $257 billion by 2025 – Corsair’s earnings multiple does not look overly stretched.</p><p><blockquote>尽管第二季度业绩略有下滑，但在华尔街专家眼中，海盗船游戏仍然是一个可靠的赌注。14倍的追踪市盈率优于博彩业25倍的平均市盈率。考虑到稳健的增长机会——全球博彩业预计到2025年将达到2570亿美元——Corsair的市盈率看起来并没有过度紧张。</blockquote></p><p> Lastly,short interest&nbsp;of 37% of the float seems too high for a decent company that is far from being in trouble. Due to CRSR being a short selling target, bulls could benefit not only from the strong business fundamentals, but also from a possible short squeeze ahead.</p><p><blockquote>最后，对于一家远未陷入困境的体面公司来说，37%的空头利息似乎太高了。由于CRSR是卖空目标，多头不仅可以受益于强劲的商业基本面，还可以受益于未来可能的轧空。</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>Undervalued Corsair Gaming: a Meme Stock That Isn't One?<blockquote>被低估的海盗船游戏：一只不是的模因股票？</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\">\nUndervalued Corsair Gaming: a Meme Stock That Isn't One?<blockquote>被低估的海盗船游戏：一只不是的模因股票？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-10-08 07:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to Wall Street, Corsair Gaming stock is far from its fair value and investors should expect gains ahead. Wall Street Memes discusses the opportunity.</p><p><blockquote>据华尔街称，海盗船博彩公司的股票远未达到其公允价值，投资者应该预计未来会上涨。华尔街迷因讨论了这个机会。</blockquote></p><p> Corsair Gaming stock&nbsp;shares one key feature with the likes of AMC and GameStop: they have been very popular on the main discussion boards lately. However, business fundamentals and recent price action suggest that CRSR does not quite deserve the label “meme stock”.</p><p><blockquote>Corsair Gaming股票与AMC和游戏驿站等公司有一个共同的关键特征：它们最近在主要讨论板上非常受欢迎。然而，商业基本面和最近的价格走势表明，CRSR并不完全配得上“模因股票”的标签。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b4524f69dcb99f2a1c856c0c42af1061\" tg-width=\"1240\" tg-height=\"698\" width=\"100%\" height=\"auto\"><span>Figure 1: Corsair gaming PC.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：海盗船游戏电脑。</span></p></blockquote></p><p> CRSR probably draws the attention of the Reddit crowd due to its very high short interest of 37% of the float, along with cheap valuations. Partly for these reasons, Wall Street analysts have been calling for significant upside potential in Corsair stock, as we detail below.</p><p><blockquote>CRSR可能会引起Reddit人群的注意，因为它的空头利息非常高，占流通量的37%，而且估值低廉。部分出于这些原因，华尔街分析师一直呼吁海盗船股票具有巨大的上涨潜力，我们将在下面详细介绍。</blockquote></p><p> <b>Bullishness despite earnings miss</b></p><p><blockquote><b>尽管盈利未达预期，但仍保持乐观</b></blockquote></p><p> Based on four reports in the last 2 months, Corsair stock has a&nbsp;consensus&nbsp;share price target of $39, which implies 52% upside from current levels. Three out of four analysts rate the stock a buy, while one of them holds a neutral stance.</p><p><blockquote>根据过去两个月的四份报告，Corsair股票的一致股价目标为39美元，这意味着较当前水平上涨52%。四分之三的分析师将该股评级为买入，其中一名分析师持中性立场。</blockquote></p><p> Despite advocating for 63% upside potential and a buy recommendation,<b>Barclays</b>&nbsp;analyst Mario Lu&nbsp;lowered&nbsp;his price target to $42 from $47 recently. The second quarter earnings miss weighed on his price projection, especially due to lack of guidance. However, he highlighted that Corsair gained share in the components category in Q2 and maintaining share in peripherals, while the entire industry faced increasing shipping costs.</p><p><blockquote>尽管主张63%的上涨潜力并给予买入建议，<b>巴克莱银行</b>分析师Mario Lu最近将目标价从47美元下调至42美元。第二季度盈利不佳影响了他的价格预测，特别是由于缺乏指导。然而，他强调，Corsair在第二季度获得了组件类别的份额，并保持了外围设备的份额，而整个行业面临着不断增加的运输成本。</blockquote></p><p> <b>Baird</b>&nbsp;analyst Colin Sebastian was another who&nbsp;lowered&nbsp;the firm's price target to $38 from $48. The analyst still recommends a buy based on longer-term prospects. The pros of investing, which include new product introductions and direct-to-consumer opportunities, outweigh the current supply chain bottlenecks and higher logistics and freight costs.</p><p><blockquote><b>贝尔德</b>分析师科林·塞巴斯蒂安(Colin Sebastian)是另一位将该公司目标价从48美元下调至38美元的人。基于长期前景，分析师仍建议买入。投资的好处包括新产品推出和直接面向消费者的机会，超过了当前的供应链瓶颈以及更高的物流和货运成本。</blockquote></p><p> The last bull on the radar is&nbsp;<b>Wedbush</b>’s Michael Pachter. The analyst&nbsp;pulled back&nbsp;on his very bullish $55 price target but maintained his buy recommendation, following Corsair second quarter earnings results miss. Still, the analyst sees upside potential of over 70%.</p><p><blockquote>雷达上的最后一头公牛是<b>韦德布什</b>迈克尔·帕切特。在Corsair第二季度盈利业绩未达预期后，该分析师下调了非常乐观的55美元目标价，但维持了买入建议。尽管如此，分析师仍认为上涨潜力超过70%。</blockquote></p><p> The skeptical one is&nbsp;<b>Credit Suisse’</b>s Matthew Cabral, who&nbsp;lowered&nbsp;his price target to $31 from $43 and also downgraded the stock from buy to neutral. Weighing on his decision were a revenue and EBITDA misses, while Gaming and Creator Peripherals sales growth decelerated. The analyst suggested that fading tailwinds from the stay-at-home days impacted Corsair’s demand.</p><p><blockquote>持怀疑态度的是<b>瑞士信贷</b>马修·卡布拉尔(Matthew Cabral)将目标价从43美元下调至31美元，并将该股评级从买入下调至中性。影响他决定的是收入和EBITDA未达预期，而游戏和创作者外设销售增长放缓。这位分析师表示，居家日的顺风减弱影响了海盗船的需求。</blockquote></p><p> <b>Wall Street Memes view</b></p><p><blockquote><b>华尔街模因视图</b></blockquote></p><p> Even with a slightly miss on second quarter results, Corsair Gaming remained a solid bet in the eyes of Wall Street experts. Trailing P/E of 14 times compares favorably to an average P/E of 25 times in the gaming industry. Considering solid growth opportunities – global gaming is expected to reach $257 billion by 2025 – Corsair’s earnings multiple does not look overly stretched.</p><p><blockquote>尽管第二季度业绩略有下滑，但在华尔街专家眼中，海盗船游戏仍然是一个可靠的赌注。14倍的追踪市盈率优于博彩业25倍的平均市盈率。考虑到稳健的增长机会——全球博彩业预计到2025年将达到2570亿美元——Corsair的市盈率看起来并没有过度紧张。</blockquote></p><p> Lastly,short interest&nbsp;of 37% of the float seems too high for a decent company that is far from being in trouble. Due to CRSR being a short selling target, bulls could benefit not only from the strong business fundamentals, but also from a possible short squeeze ahead.</p><p><blockquote>最后，对于一家远未陷入困境的体面公司来说，37%的空头利息似乎太高了。由于CRSR是卖空目标，多头不仅可以受益于强劲的商业基本面，还可以受益于未来可能的轧空。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/memestocks/other-memes/corsair-stock-has-50-upside-says-wall-street\">TheStreet</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":{"CRSR":"Corsair Gaming, Inc."},"source_url":"https://www.thestreet.com/memestocks/other-memes/corsair-stock-has-50-upside-says-wall-street","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142831373","content_text":"According to Wall Street, Corsair Gaming stock is far from its fair value and investors should expect gains ahead. Wall Street Memes discusses the opportunity.\nCorsair Gaming stock shares one key feature with the likes of AMC and GameStop: they have been very popular on the main discussion boards lately. However, business fundamentals and recent price action suggest that CRSR does not quite deserve the label “meme stock”.\nFigure 1: Corsair gaming PC.\nCRSR probably draws the attention of the Reddit crowd due to its very high short interest of 37% of the float, along with cheap valuations. Partly for these reasons, Wall Street analysts have been calling for significant upside potential in Corsair stock, as we detail below.\nBullishness despite earnings miss\nBased on four reports in the last 2 months, Corsair stock has a consensus share price target of $39, which implies 52% upside from current levels. Three out of four analysts rate the stock a buy, while one of them holds a neutral stance.\nDespite advocating for 63% upside potential and a buy recommendation,Barclays analyst Mario Lu lowered his price target to $42 from $47 recently. The second quarter earnings miss weighed on his price projection, especially due to lack of guidance. However, he highlighted that Corsair gained share in the components category in Q2 and maintaining share in peripherals, while the entire industry faced increasing shipping costs.\nBaird analyst Colin Sebastian was another who lowered the firm's price target to $38 from $48. The analyst still recommends a buy based on longer-term prospects. The pros of investing, which include new product introductions and direct-to-consumer opportunities, outweigh the current supply chain bottlenecks and higher logistics and freight costs.\nThe last bull on the radar is Wedbush’s Michael Pachter. The analyst pulled back on his very bullish $55 price target but maintained his buy recommendation, following Corsair second quarter earnings results miss. Still, the analyst sees upside potential of over 70%.\nThe skeptical one is Credit Suisse’s Matthew Cabral, who lowered his price target to $31 from $43 and also downgraded the stock from buy to neutral. Weighing on his decision were a revenue and EBITDA misses, while Gaming and Creator Peripherals sales growth decelerated. The analyst suggested that fading tailwinds from the stay-at-home days impacted Corsair’s demand.\nWall Street Memes view\nEven with a slightly miss on second quarter results, Corsair Gaming remained a solid bet in the eyes of Wall Street experts. Trailing P/E of 14 times compares favorably to an average P/E of 25 times in the gaming industry. Considering solid growth opportunities – global gaming is expected to reach $257 billion by 2025 – Corsair’s earnings multiple does not look overly stretched.\nLastly,short interest of 37% of the float seems too high for a decent company that is far from being in trouble. Due to CRSR being a short selling target, bulls could benefit not only from the strong business fundamentals, but also from a possible short squeeze ahead.","news_type":1,"symbols_score_info":{"CRSR":0.9}},"isVote":1,"tweetType":1,"viewCount":2606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":884854234,"gmtCreate":1631882459828,"gmtModify":1632805614207,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/884854234","repostId":"1160944962","repostType":4,"repost":{"id":"1160944962","kind":"news","pubTimestamp":1631881684,"share":"https://www.laohu8.com/m/news/1160944962?lang=zh_CN&edition=full","pubTime":"2021-09-17 20:28","market":"us","language":"en","title":"Apple Stock To Crumble Along With S&P 500, Says One Expert<blockquote>一位专家表示，苹果股票将与标普500一起崩溃</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160944962","media":"TheStreet","summary":"Famed portfolio manager Dan Niles thinks that Apple stock is going down, as the broad market correct","content":"<p>Famed portfolio manager Dan Niles thinks that Apple stock is going down, as the broad market corrects up to 20%. Could his bearishness come to fruition?</p><p><blockquote>著名投资组合经理Dan Niles认为，随着大盘回调高达20%，苹果股票正在下跌。他的悲观情绪会实现吗？</blockquote></p><p> Apple stock&nbsp;is about to take a dive alongside the rest of the market. At least this is what Satori Fund’s portfolio manager Dan Niles&nbsp;believes&nbsp;in, as he unveiled his short position on AAPL during a CNBC interview earlier this week.</p><p><blockquote>苹果股票即将与市场其他股票一起暴跌。至少Satori Fund的投资组合经理Dan Niles是这么认为的，他在本周早些时候接受CNBC采访时透露了他对AAPL的空头头寸。</blockquote></p><p> Today, the Apple Maven looks at the bearish case and assesses whether Dan’s concerns might have merits.</p><p><blockquote>今天，这位苹果专家着眼于看跌的情况，并评估丹的担忧是否有道理。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ab3d6af5118ba8435cff4b332c3525a5\" tg-width=\"1240\" tg-height=\"600\" width=\"100%\" height=\"auto\"><span>Figure 1: Dan Niles interview on Squawk Box CNBC.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：丹·奈尔斯在美国消费者新闻与商业频道Squawk Box上的采访。</span></p></blockquote></p><p> <b>AAPL: pressure from all sides</b></p><p><blockquote><b>苹果公司：来自各方的压力</b></blockquote></p><p> Dan Niles’ list of reasons why Apple stock and the S&amp;P 500 will likely dip is long. It all starts with an assessment of the Cupertino company’s share price behavior, following the September 14 announcement of the iPhone 13.</p><p><blockquote>Dan Niles列出了苹果股票和标普500可能下跌的原因很长。这一切都始于对这家库比蒂诺公司9月14日发布iPhone 13后股价行为的评估。</blockquote></p><p> According to Mr. Niles, AAPL tends to succumb to sell-the-news pressures around this time of the year. His observation is well founded. The chart below,provided by Stock Rover, shows that Apple stock has underperformed the S&amp;P 500 the most in the last few months of the year, at least over the past decade.</p><p><blockquote>奈尔斯表示，苹果公司在每年的这个时候往往会屈服于抛售压力。他的观察是有根据的。下图由Stock Rover提供，显示苹果股票在今年最后几个月的表现最逊于标普500，至少在过去十年中是如此。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5adebbd41107c35aa1e2b02a79a54ad1\" tg-width=\"906\" tg-height=\"300\" width=\"100%\" height=\"auto\"><span>Figure 2: AAPL average monthly return vs. S&amp;P (seasonality).</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：AAPL平均月回报率与S&amp;P（季节性）。</span></p></blockquote></p><p> Still on short term performance, the portfolio manager thinks that Apple stock is priced too aggressively ahead of what he believes will be tough COVID-19 comps. Apple delivered outstanding results during and right after the holiday period last year, as the chart below depicts. Topping such performance will be hard, if not nearly impossible.</p><p><blockquote>仍然从短期表现来看，这位投资组合经理认为，在他认为将是艰难的COVID-19比较之前，苹果股票的定价过于激进。如下图所示，苹果在去年假期期间和假期结束后取得了出色的业绩。超越这样的表现即使不是几乎不可能，也是很困难的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af89400f036896ebbb02d811348863dc\" tg-width=\"541\" tg-height=\"364\" width=\"100%\" height=\"auto\"><span>Figure 3: AAPL total revenue growth.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：AAPL总收入增长。</span></p></blockquote></p><p> On this topic, experts seem to be split between a bullish majority and a bearish minority. Wedbush’s Dan Ives, for example, would likely disagree with Dan Niles. According to the Wall Street analyst – and I tend to agree with him – the digital transformation and&nbsp;5G upgrade cycle should last years, not only a few atypical pandemic months.</p><p><blockquote>在这个话题上，专家们似乎分为看涨的多数和看跌的少数。例如，韦德布什的丹·艾夫斯可能不同意丹·奈尔斯的观点。这位华尔街分析师表示——我倾向于同意他的观点——数字化转型和5G升级周期应该持续数年，而不仅仅是几个非典型的疫情月。</blockquote></p><p> <b>S&amp;P 500: pricey and facing headwinds</b></p><p><blockquote><b>标普500：价格昂贵且面临阻力</b></blockquote></p><p> While Dan Niles’ bearish arguments on AAPL shares could stand alone, his pessimism towards the broad market might be the one-two punch that knocks Apple stock down. Mr. Niles sees the S&amp;P 500 correcting between 10% and 20% by the end of this year.</p><p><blockquote>虽然Dan Niles对AAPL股票的看跌论点可能是孤立的，但他对大盘的悲观情绪可能是导致苹果股票下跌的一两拳。Niles先生预计，到今年年底，标普500将调整10%至20%。</blockquote></p><p> At the top of his list of reasons why this could happen is a deadly combo: inflation, COVID-19 worries and high valuations. I sympathize with his concerns, as all three have been key risk factors for the markets since at least the beginning of this year, if not longer.</p><p><blockquote>在他列出的可能发生这种情况的原因中，最重要的是一个致命的组合：通货膨胀、对COVID-19的担忧和高估值。我同情他的担忧，因为至少自今年年初（如果不是更长时间的话）以来，这三个因素一直是市场的关键风险因素。</blockquote></p><p> The better news for bulls, in my view, is that none of the above is “new news” to investors. Equities have endured the headwinds very well through several months in 2021 so far, which I take as a positive sign that any potential worry may have already been priced in.</p><p><blockquote>在我看来，对多头来说更好的消息是，以上对投资者来说都不是“新消息”。到目前为止，股市在2021年的几个月里很好地经受住了逆风，我认为这是一个积极的迹象，表明任何潜在的担忧可能都已经被消化了。</blockquote></p><p> This is not to say, of course, that risks should be dismissed. Rather, I just don’t believe that the market or Apple stock investors will suddenly dump their positions based on old information – unless something drastic and unexpected, such as substantially higher inflation or interest rates, were to happen.</p><p><blockquote>当然，这并不是说应该忽视风险。相反，我只是不相信市场或苹果股票投资者会根据旧信息突然抛售头寸——除非发生剧烈且意想不到的事情，例如通胀或利率大幅上升。</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>Apple Stock To Crumble Along With S&P 500, Says One Expert<blockquote>一位专家表示，苹果股票将与标普500一起崩溃</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\">\nApple Stock To Crumble Along With S&P 500, Says One Expert<blockquote>一位专家表示，苹果股票将与标普500一起崩溃</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-09-17 20:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Famed portfolio manager Dan Niles thinks that Apple stock is going down, as the broad market corrects up to 20%. Could his bearishness come to fruition?</p><p><blockquote>著名投资组合经理Dan Niles认为，随着大盘回调高达20%，苹果股票正在下跌。他的悲观情绪会实现吗？</blockquote></p><p> Apple stock&nbsp;is about to take a dive alongside the rest of the market. At least this is what Satori Fund’s portfolio manager Dan Niles&nbsp;believes&nbsp;in, as he unveiled his short position on AAPL during a CNBC interview earlier this week.</p><p><blockquote>苹果股票即将与市场其他股票一起暴跌。至少Satori Fund的投资组合经理Dan Niles是这么认为的，他在本周早些时候接受CNBC采访时透露了他对AAPL的空头头寸。</blockquote></p><p> Today, the Apple Maven looks at the bearish case and assesses whether Dan’s concerns might have merits.</p><p><blockquote>今天，这位苹果专家着眼于看跌的情况，并评估丹的担忧是否有道理。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ab3d6af5118ba8435cff4b332c3525a5\" tg-width=\"1240\" tg-height=\"600\" width=\"100%\" height=\"auto\"><span>Figure 1: Dan Niles interview on Squawk Box CNBC.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：丹·奈尔斯在美国消费者新闻与商业频道Squawk Box上的采访。</span></p></blockquote></p><p> <b>AAPL: pressure from all sides</b></p><p><blockquote><b>苹果公司：来自各方的压力</b></blockquote></p><p> Dan Niles’ list of reasons why Apple stock and the S&amp;P 500 will likely dip is long. It all starts with an assessment of the Cupertino company’s share price behavior, following the September 14 announcement of the iPhone 13.</p><p><blockquote>Dan Niles列出了苹果股票和标普500可能下跌的原因很长。这一切都始于对这家库比蒂诺公司9月14日发布iPhone 13后股价行为的评估。</blockquote></p><p> According to Mr. Niles, AAPL tends to succumb to sell-the-news pressures around this time of the year. His observation is well founded. The chart below,provided by Stock Rover, shows that Apple stock has underperformed the S&amp;P 500 the most in the last few months of the year, at least over the past decade.</p><p><blockquote>奈尔斯表示，苹果公司在每年的这个时候往往会屈服于抛售压力。他的观察是有根据的。下图由Stock Rover提供，显示苹果股票在今年最后几个月的表现最逊于标普500，至少在过去十年中是如此。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5adebbd41107c35aa1e2b02a79a54ad1\" tg-width=\"906\" tg-height=\"300\" width=\"100%\" height=\"auto\"><span>Figure 2: AAPL average monthly return vs. S&amp;P (seasonality).</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：AAPL平均月回报率与S&amp;P（季节性）。</span></p></blockquote></p><p> Still on short term performance, the portfolio manager thinks that Apple stock is priced too aggressively ahead of what he believes will be tough COVID-19 comps. Apple delivered outstanding results during and right after the holiday period last year, as the chart below depicts. Topping such performance will be hard, if not nearly impossible.</p><p><blockquote>仍然从短期表现来看，这位投资组合经理认为，在他认为将是艰难的COVID-19比较之前，苹果股票的定价过于激进。如下图所示，苹果在去年假期期间和假期结束后取得了出色的业绩。超越这样的表现即使不是几乎不可能，也是很困难的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af89400f036896ebbb02d811348863dc\" tg-width=\"541\" tg-height=\"364\" width=\"100%\" height=\"auto\"><span>Figure 3: AAPL total revenue growth.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：AAPL总收入增长。</span></p></blockquote></p><p> On this topic, experts seem to be split between a bullish majority and a bearish minority. Wedbush’s Dan Ives, for example, would likely disagree with Dan Niles. According to the Wall Street analyst – and I tend to agree with him – the digital transformation and&nbsp;5G upgrade cycle should last years, not only a few atypical pandemic months.</p><p><blockquote>在这个话题上，专家们似乎分为看涨的多数和看跌的少数。例如，韦德布什的丹·艾夫斯可能不同意丹·奈尔斯的观点。这位华尔街分析师表示——我倾向于同意他的观点——数字化转型和5G升级周期应该持续数年，而不仅仅是几个非典型的疫情月。</blockquote></p><p> <b>S&amp;P 500: pricey and facing headwinds</b></p><p><blockquote><b>标普500：价格昂贵且面临阻力</b></blockquote></p><p> While Dan Niles’ bearish arguments on AAPL shares could stand alone, his pessimism towards the broad market might be the one-two punch that knocks Apple stock down. Mr. Niles sees the S&amp;P 500 correcting between 10% and 20% by the end of this year.</p><p><blockquote>虽然Dan Niles对AAPL股票的看跌论点可能是孤立的，但他对大盘的悲观情绪可能是导致苹果股票下跌的一两拳。Niles先生预计，到今年年底，标普500将调整10%至20%。</blockquote></p><p> At the top of his list of reasons why this could happen is a deadly combo: inflation, COVID-19 worries and high valuations. I sympathize with his concerns, as all three have been key risk factors for the markets since at least the beginning of this year, if not longer.</p><p><blockquote>在他列出的可能发生这种情况的原因中，最重要的是一个致命的组合：通货膨胀、对COVID-19的担忧和高估值。我同情他的担忧，因为至少自今年年初（如果不是更长时间的话）以来，这三个因素一直是市场的关键风险因素。</blockquote></p><p> The better news for bulls, in my view, is that none of the above is “new news” to investors. Equities have endured the headwinds very well through several months in 2021 so far, which I take as a positive sign that any potential worry may have already been priced in.</p><p><blockquote>在我看来，对多头来说更好的消息是，以上对投资者来说都不是“新消息”。到目前为止，股市在2021年的几个月里很好地经受住了逆风，我认为这是一个积极的迹象，表明任何潜在的担忧可能都已经被消化了。</blockquote></p><p> This is not to say, of course, that risks should be dismissed. Rather, I just don’t believe that the market or Apple stock investors will suddenly dump their positions based on old information – unless something drastic and unexpected, such as substantially higher inflation or interest rates, were to happen.</p><p><blockquote>当然，这并不是说应该忽视风险。相反，我只是不相信市场或苹果股票投资者会根据旧信息突然抛售头寸——除非发生剧烈且意想不到的事情，例如通胀或利率大幅上升。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/news/apple-stock-to-crumble-along-with-s-p-500-says-one-expert\">TheStreet</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":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/news/apple-stock-to-crumble-along-with-s-p-500-says-one-expert","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160944962","content_text":"Famed portfolio manager Dan Niles thinks that Apple stock is going down, as the broad market corrects up to 20%. Could his bearishness come to fruition?\nApple stock is about to take a dive alongside the rest of the market. At least this is what Satori Fund’s portfolio manager Dan Niles believes in, as he unveiled his short position on AAPL during a CNBC interview earlier this week.\nToday, the Apple Maven looks at the bearish case and assesses whether Dan’s concerns might have merits.\nFigure 1: Dan Niles interview on Squawk Box CNBC.\nAAPL: pressure from all sides\nDan Niles’ list of reasons why Apple stock and the S&P 500 will likely dip is long. It all starts with an assessment of the Cupertino company’s share price behavior, following the September 14 announcement of the iPhone 13.\nAccording to Mr. Niles, AAPL tends to succumb to sell-the-news pressures around this time of the year. His observation is well founded. The chart below,provided by Stock Rover, shows that Apple stock has underperformed the S&P 500 the most in the last few months of the year, at least over the past decade.\nFigure 2: AAPL average monthly return vs. S&P (seasonality).\nStill on short term performance, the portfolio manager thinks that Apple stock is priced too aggressively ahead of what he believes will be tough COVID-19 comps. Apple delivered outstanding results during and right after the holiday period last year, as the chart below depicts. Topping such performance will be hard, if not nearly impossible.\nFigure 3: AAPL total revenue growth.\nOn this topic, experts seem to be split between a bullish majority and a bearish minority. Wedbush’s Dan Ives, for example, would likely disagree with Dan Niles. According to the Wall Street analyst – and I tend to agree with him – the digital transformation and 5G upgrade cycle should last years, not only a few atypical pandemic months.\nS&P 500: pricey and facing headwinds\nWhile Dan Niles’ bearish arguments on AAPL shares could stand alone, his pessimism towards the broad market might be the one-two punch that knocks Apple stock down. Mr. Niles sees the S&P 500 correcting between 10% and 20% by the end of this year.\nAt the top of his list of reasons why this could happen is a deadly combo: inflation, COVID-19 worries and high valuations. I sympathize with his concerns, as all three have been key risk factors for the markets since at least the beginning of this year, if not longer.\nThe better news for bulls, in my view, is that none of the above is “new news” to investors. Equities have endured the headwinds very well through several months in 2021 so far, which I take as a positive sign that any potential worry may have already been priced in.\nThis is not to say, of course, that risks should be dismissed. Rather, I just don’t believe that the market or Apple stock investors will suddenly dump their positions based on old information – unless something drastic and unexpected, such as substantially higher inflation or interest rates, were to happen.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837692766,"gmtCreate":1629880784555,"gmtModify":1631889080883,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Done","listText":"Done","text":"Done","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/837692766","repostId":"2162087564","repostType":4,"isVote":1,"tweetType":1,"viewCount":1682,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838997972,"gmtCreate":1629363241696,"gmtModify":1631889080888,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Give me a like","listText":"Give me a like","text":"Give me a like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/838997972","repostId":"1118120303","repostType":4,"repost":{"id":"1118120303","kind":"news","pubTimestamp":1629362423,"share":"https://www.laohu8.com/m/news/1118120303?lang=zh_CN&edition=full","pubTime":"2021-08-19 16:40","market":"us","language":"en","title":"How to Hedge Your Stock Portfolio Before Interest Rates Start Rising<blockquote>如何在利率开始上升之前对冲您的股票投资组合</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118120303","media":"Barron's","summary":"If fairy tales were made into parables about investing, the boy who cried wolf would run a tail-risk","content":"<p>If fairy tales were made into parables about investing, the boy who cried wolf would run a tail-risk fund.</p><p><blockquote>如果童话故事被改编成关于投资的寓言，喊狼来了的男孩将经营一只尾部风险基金。</blockquote></p><p> To protect his stocks, the vigilant boy would perpetually buybearish options contractsin anticipation that stock prices would fall. He would now be very busy, as many ominous events are bounding across the world’s stage.</p><p><blockquote>为了保护自己的股票，这个警惕的男孩会不断买入看跌期权合约，因为他预计股价会下跌。他现在会非常忙，因为许多不祥的事件正在世界舞台上跳跃。</blockquote></p><p> Thefall of Afghanistanis a potentially destabilizing market event, especially ahead of the 20th anniversary of the Sept. 11 terrorist attack on the U.S.</p><p><blockquote>阿富汗的陷落是一个潜在的破坏市场稳定的事件，尤其是在9月11日美国恐怖袭击20周年之前。</blockquote></p><p> The resurgence of Covid-19, weakening retail sales, China saber-rattling toward Taiwan, China mocking America’s sloppy Afghanistan withdrawal, andsigns of sticky inflationare all reasons for extra vigilance.</p><p><blockquote>Covid-19的死灰复燃、零售销售疲软、中国对台湾的武力威胁、中国嘲笑美国草率的阿富汗撤军以及粘性通胀的迹象都值得格外警惕。</blockquote></p><p> But the major event that would most alarm our hero would be the Federal Reserve’smeeting in Jackson Hole, Wyo., at the end of the month. Jerome Powell, the Fed’s chairman, is expected to speak. He is the big, bad wolf of this reimagined story.</p><p><blockquote>但最让我们的英雄震惊的重大事件将是本月底在怀俄明州杰克逊霍尔举行的美联储会议。美联储主席鲍威尔预计将发表讲话。他是这个重新想象的故事中的大灰狼。</blockquote></p><p> Powell’s speech might offer concrete clues about potential changes to monetary policy—which could pummel stocks.</p><p><blockquote>鲍威尔的讲话可能会为货币政策的潜在变化提供具体线索，这可能会打击股市。</blockquote></p><p> When interest rates are low, as they are now, investors can move far out on the so-called risk curve. It’s cheap to borrow money and thus relatively easy to make money doing something as simple asbuying dividend-paying stocksand as complex as quantitative trading. With rates low enough, even Bitcoin and emerging market debt can be attractive.</p><p><blockquote>当利率较低时，就像现在一样，投资者可以在所谓的风险曲线上走得更远。借钱很便宜，因此做一些简单的事情（如购买派息股票）和复杂的事情（如量化交易）赚钱相对容易。由于利率足够低，即使是比特币和新兴市场的债务也可能具有吸引力。</blockquote></p><p> Yet this time, even if the boy who cried wolf is wrong, investors need to be aware that many others will be listening to himahead of expected changes to interest rates.</p><p><blockquote>然而，这一次，即使喊狼来了的男孩是错的，投资者也需要意识到，许多其他人将听取他关于利率预期变化的意见。</blockquote></p><p> Stock prices are generally dancing around record highs—a phrase used in this column year after year—as historically low interest rates remain the central defining fact of the market.</p><p><blockquote>由于历史低利率仍然是市场的核心定义事实，股价通常在历史高点附近波动——这是本专栏年复一年使用的一个短语。</blockquote></p><p> But it seems that the more investors talk about corrections, or why corrections won’t happen, the bearish narrative prevails, at least for a bit.</p><p><blockquote>但似乎投资者越多地谈论调整，或者为什么调整不会发生，看跌的说法就占了上风，至少在一段时间内是这样。</blockquote></p><p> Expectations that something will soon happen to easy-money rates are leading to a burst of hedging activity.</p><p><blockquote>对宽松货币利率很快就会发生变化的预期正在导致对冲活动的爆发。</blockquote></p><p> One major investor has created a bearish position in theSPDR S&amp;P 500exchange-traded fund (ticker: SPY) that would prove profitable if the stock market fell about 4% by Sept. 3. The investor sold 25,000 September $427 put options and bought 25,000 $440 puts, all expiring on Sept. 3, to cover the Fed’s Jackson Hole symposium from Aug. 26 to Aug. 28.</p><p><blockquote>一位主要投资者在SPDR S&amp;P 500交易所交易基金（股票代码：SPDR标普500指数ETF）中建立了看跌头寸，如果股市到9月3日下跌约4%，该基金将会盈利。该投资者卖出了25,000份9月427美元看跌期权，并买入了25,000份440美元看跌期权，全部将于9月3日到期，以覆盖8月26日至8月28日举行的美联储杰克逊霍尔研讨会。</blockquote></p><p> This column has rarely offered a suggestion to hedge portfolios. It has almost always seemed better to us to sell puts to anxious investors and use the proceeds to buy upside call options to profit from stock advances.</p><p><blockquote>本专栏很少提供对冲投资组合的建议。对我们来说，向焦虑的投资者出售看跌期权并用所得收益购买上行看涨期权期权以从股票上涨中获利似乎总是更好。</blockquote></p><p> Similarly, we have been hesitant to recommend stock-replacement strategies. Because low interest rates always seemed the key ingredient in the bull market, there was seldom a strategic reason for selling stocks and buying calls.</p><p><blockquote>同样，我们也一直犹豫是否推荐股票替换策略。因为低利率似乎总是牛市的关键因素，所以很少有卖出股票和买入评级的战略理由。</blockquote></p><p> But now, using upside calls as stock surrogates does indeed seem attractive for anyone who thinks that rates could rise. The strategy is worth pondering for investors with substantial stock profits.</p><p><blockquote>但现在，对于任何认为利率可能上升的人来说，使用上行评级作为股票替代品似乎确实很有吸引力。对于股票利润丰厚的投资者来说，该策略值得深思。</blockquote></p><p> If this resonates, review your stocks. Sell enough shares to realize a profit of, say, 50% to 100% on your initial investment. If you sold 500 shares to lock in gains, for example, buy a corresponding number of upside calls that expire in, say, three months. This will buy you just enough time to see how the stock—and the market—performs.</p><p><blockquote>如果这引起了共鸣，请检查您的股票。出售足够的股票以实现初始投资50%到100%的利润。例如，如果您出售500股以锁定收益，请购买相应数量的三个月后到期的上涨评级。这将为您赢得足够的时间来了解股票和市场的表现。</blockquote></p><p> The goal is not to be scared of wolves, and to make sure that your appetite for volatility is aligned with your investment timeline.</p><p><blockquote>目标是不要害怕狼，并确保您对波动性的偏好与您的投资时间表一致。</blockquote></p><p> <i>Steven M. Sears is the president and chief operating officer of Options Solutions, a specialized asset-management firm. Neither he nor the firm has a position in the options or underlying securities mentioned in this column.</i></p><p><blockquote><i>Steven M.Sears是专业资产管理公司Options Solutions的总裁兼首席运营官。他和公司都没有在本专栏提到的期权或基础证券中持有头寸。</i></blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How to Hedge Your Stock Portfolio Before Interest Rates Start Rising<blockquote>如何在利率开始上升之前对冲您的股票投资组合</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\">\nHow to Hedge Your Stock Portfolio Before Interest Rates Start Rising<blockquote>如何在利率开始上升之前对冲您的股票投资组合</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-08-19 16:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>If fairy tales were made into parables about investing, the boy who cried wolf would run a tail-risk fund.</p><p><blockquote>如果童话故事被改编成关于投资的寓言，喊狼来了的男孩将经营一只尾部风险基金。</blockquote></p><p> To protect his stocks, the vigilant boy would perpetually buybearish options contractsin anticipation that stock prices would fall. He would now be very busy, as many ominous events are bounding across the world’s stage.</p><p><blockquote>为了保护自己的股票，这个警惕的男孩会不断买入看跌期权合约，因为他预计股价会下跌。他现在会非常忙，因为许多不祥的事件正在世界舞台上跳跃。</blockquote></p><p> Thefall of Afghanistanis a potentially destabilizing market event, especially ahead of the 20th anniversary of the Sept. 11 terrorist attack on the U.S.</p><p><blockquote>阿富汗的陷落是一个潜在的破坏市场稳定的事件，尤其是在9月11日美国恐怖袭击20周年之前。</blockquote></p><p> The resurgence of Covid-19, weakening retail sales, China saber-rattling toward Taiwan, China mocking America’s sloppy Afghanistan withdrawal, andsigns of sticky inflationare all reasons for extra vigilance.</p><p><blockquote>Covid-19的死灰复燃、零售销售疲软、中国对台湾的武力威胁、中国嘲笑美国草率的阿富汗撤军以及粘性通胀的迹象都值得格外警惕。</blockquote></p><p> But the major event that would most alarm our hero would be the Federal Reserve’smeeting in Jackson Hole, Wyo., at the end of the month. Jerome Powell, the Fed’s chairman, is expected to speak. He is the big, bad wolf of this reimagined story.</p><p><blockquote>但最让我们的英雄震惊的重大事件将是本月底在怀俄明州杰克逊霍尔举行的美联储会议。美联储主席鲍威尔预计将发表讲话。他是这个重新想象的故事中的大灰狼。</blockquote></p><p> Powell’s speech might offer concrete clues about potential changes to monetary policy—which could pummel stocks.</p><p><blockquote>鲍威尔的讲话可能会为货币政策的潜在变化提供具体线索，这可能会打击股市。</blockquote></p><p> When interest rates are low, as they are now, investors can move far out on the so-called risk curve. It’s cheap to borrow money and thus relatively easy to make money doing something as simple asbuying dividend-paying stocksand as complex as quantitative trading. With rates low enough, even Bitcoin and emerging market debt can be attractive.</p><p><blockquote>当利率较低时，就像现在一样，投资者可以在所谓的风险曲线上走得更远。借钱很便宜，因此做一些简单的事情（如购买派息股票）和复杂的事情（如量化交易）赚钱相对容易。由于利率足够低，即使是比特币和新兴市场的债务也可能具有吸引力。</blockquote></p><p> Yet this time, even if the boy who cried wolf is wrong, investors need to be aware that many others will be listening to himahead of expected changes to interest rates.</p><p><blockquote>然而，这一次，即使喊狼来了的男孩是错的，投资者也需要意识到，许多其他人将听取他关于利率预期变化的意见。</blockquote></p><p> Stock prices are generally dancing around record highs—a phrase used in this column year after year—as historically low interest rates remain the central defining fact of the market.</p><p><blockquote>由于历史低利率仍然是市场的核心定义事实，股价通常在历史高点附近波动——这是本专栏年复一年使用的一个短语。</blockquote></p><p> But it seems that the more investors talk about corrections, or why corrections won’t happen, the bearish narrative prevails, at least for a bit.</p><p><blockquote>但似乎投资者越多地谈论调整，或者为什么调整不会发生，看跌的说法就占了上风，至少在一段时间内是这样。</blockquote></p><p> Expectations that something will soon happen to easy-money rates are leading to a burst of hedging activity.</p><p><blockquote>对宽松货币利率很快就会发生变化的预期正在导致对冲活动的爆发。</blockquote></p><p> One major investor has created a bearish position in theSPDR S&amp;P 500exchange-traded fund (ticker: SPY) that would prove profitable if the stock market fell about 4% by Sept. 3. The investor sold 25,000 September $427 put options and bought 25,000 $440 puts, all expiring on Sept. 3, to cover the Fed’s Jackson Hole symposium from Aug. 26 to Aug. 28.</p><p><blockquote>一位主要投资者在SPDR S&amp;P 500交易所交易基金（股票代码：SPDR标普500指数ETF）中建立了看跌头寸，如果股市到9月3日下跌约4%，该基金将会盈利。该投资者卖出了25,000份9月427美元看跌期权，并买入了25,000份440美元看跌期权，全部将于9月3日到期，以覆盖8月26日至8月28日举行的美联储杰克逊霍尔研讨会。</blockquote></p><p> This column has rarely offered a suggestion to hedge portfolios. It has almost always seemed better to us to sell puts to anxious investors and use the proceeds to buy upside call options to profit from stock advances.</p><p><blockquote>本专栏很少提供对冲投资组合的建议。对我们来说，向焦虑的投资者出售看跌期权并用所得收益购买上行看涨期权期权以从股票上涨中获利似乎总是更好。</blockquote></p><p> Similarly, we have been hesitant to recommend stock-replacement strategies. Because low interest rates always seemed the key ingredient in the bull market, there was seldom a strategic reason for selling stocks and buying calls.</p><p><blockquote>同样，我们也一直犹豫是否推荐股票替换策略。因为低利率似乎总是牛市的关键因素，所以很少有卖出股票和买入评级的战略理由。</blockquote></p><p> But now, using upside calls as stock surrogates does indeed seem attractive for anyone who thinks that rates could rise. The strategy is worth pondering for investors with substantial stock profits.</p><p><blockquote>但现在，对于任何认为利率可能上升的人来说，使用上行评级作为股票替代品似乎确实很有吸引力。对于股票利润丰厚的投资者来说，该策略值得深思。</blockquote></p><p> If this resonates, review your stocks. Sell enough shares to realize a profit of, say, 50% to 100% on your initial investment. If you sold 500 shares to lock in gains, for example, buy a corresponding number of upside calls that expire in, say, three months. This will buy you just enough time to see how the stock—and the market—performs.</p><p><blockquote>如果这引起了共鸣，请检查您的股票。出售足够的股票以实现初始投资50%到100%的利润。例如，如果您出售500股以锁定收益，请购买相应数量的三个月后到期的上涨评级。这将为您赢得足够的时间来了解股票和市场的表现。</blockquote></p><p> The goal is not to be scared of wolves, and to make sure that your appetite for volatility is aligned with your investment timeline.</p><p><blockquote>目标是不要害怕狼，并确保您对波动性的偏好与您的投资时间表一致。</blockquote></p><p> <i>Steven M. Sears is the president and chief operating officer of Options Solutions, a specialized asset-management firm. Neither he nor the firm has a position in the options or underlying securities mentioned in this column.</i></p><p><blockquote><i>Steven M.Sears是专业资产管理公司Options Solutions的总裁兼首席运营官。他和公司都没有在本专栏提到的期权或基础证券中持有头寸。</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/articles/how-to-hedge-your-stock-portfolio-before-interest-rates-start-rising-51629361806?mod=mw_latestnews\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/how-to-hedge-your-stock-portfolio-before-interest-rates-start-rising-51629361806?mod=mw_latestnews","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118120303","content_text":"If fairy tales were made into parables about investing, the boy who cried wolf would run a tail-risk fund.\nTo protect his stocks, the vigilant boy would perpetually buybearish options contractsin anticipation that stock prices would fall. He would now be very busy, as many ominous events are bounding across the world’s stage.\nThefall of Afghanistanis a potentially destabilizing market event, especially ahead of the 20th anniversary of the Sept. 11 terrorist attack on the U.S.\nThe resurgence of Covid-19, weakening retail sales, China saber-rattling toward Taiwan, China mocking America’s sloppy Afghanistan withdrawal, andsigns of sticky inflationare all reasons for extra vigilance.\nBut the major event that would most alarm our hero would be the Federal Reserve’smeeting in Jackson Hole, Wyo., at the end of the month. Jerome Powell, the Fed’s chairman, is expected to speak. He is the big, bad wolf of this reimagined story.\nPowell’s speech might offer concrete clues about potential changes to monetary policy—which could pummel stocks.\nWhen interest rates are low, as they are now, investors can move far out on the so-called risk curve. It’s cheap to borrow money and thus relatively easy to make money doing something as simple asbuying dividend-paying stocksand as complex as quantitative trading. With rates low enough, even Bitcoin and emerging market debt can be attractive.\nYet this time, even if the boy who cried wolf is wrong, investors need to be aware that many others will be listening to himahead of expected changes to interest rates.\nStock prices are generally dancing around record highs—a phrase used in this column year after year—as historically low interest rates remain the central defining fact of the market.\nBut it seems that the more investors talk about corrections, or why corrections won’t happen, the bearish narrative prevails, at least for a bit.\nExpectations that something will soon happen to easy-money rates are leading to a burst of hedging activity.\nOne major investor has created a bearish position in theSPDR S&P 500exchange-traded fund (ticker: SPY) that would prove profitable if the stock market fell about 4% by Sept. 3. The investor sold 25,000 September $427 put options and bought 25,000 $440 puts, all expiring on Sept. 3, to cover the Fed’s Jackson Hole symposium from Aug. 26 to Aug. 28.\nThis column has rarely offered a suggestion to hedge portfolios. It has almost always seemed better to us to sell puts to anxious investors and use the proceeds to buy upside call options to profit from stock advances.\nSimilarly, we have been hesitant to recommend stock-replacement strategies. Because low interest rates always seemed the key ingredient in the bull market, there was seldom a strategic reason for selling stocks and buying calls.\nBut now, using upside calls as stock surrogates does indeed seem attractive for anyone who thinks that rates could rise. The strategy is worth pondering for investors with substantial stock profits.\nIf this resonates, review your stocks. Sell enough shares to realize a profit of, say, 50% to 100% on your initial investment. If you sold 500 shares to lock in gains, for example, buy a corresponding number of upside calls that expire in, say, three months. This will buy you just enough time to see how the stock—and the market—performs.\nThe goal is not to be scared of wolves, and to make sure that your appetite for volatility is aligned with your investment timeline.\nSteven M. Sears is the president and chief operating officer of Options Solutions, a specialized asset-management firm. Neither he nor the firm has a position in the options or underlying securities mentioned in this column.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1698,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806000057,"gmtCreate":1627613828179,"gmtModify":1631889080891,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806000057","repostId":"2155184148","repostType":4,"isVote":1,"tweetType":1,"viewCount":2191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803210982,"gmtCreate":1627440666646,"gmtModify":1631889080894,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/803210982","repostId":"2154991792","repostType":4,"isVote":1,"tweetType":1,"viewCount":2812,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800863837,"gmtCreate":1627291369329,"gmtModify":1631889080900,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like pla","listText":"Like pla","text":"Like pla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/800863837","repostId":"1130284909","repostType":4,"isVote":1,"tweetType":1,"viewCount":780,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172648710,"gmtCreate":1626960907430,"gmtModify":1631889080902,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Done","listText":"Done","text":"Done","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172648710","repostId":"1170462111","repostType":4,"repost":{"id":"1170462111","kind":"news","pubTimestamp":1626960206,"share":"https://www.laohu8.com/m/news/1170462111?lang=zh_CN&edition=full","pubTime":"2021-07-22 21:23","market":"us","language":"en","title":"Delta Variant Can Still Clip U.S. Economy’s Wings<blockquote>德尔塔变异毒株仍然可以夹住美国经济的翅膀</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170462111","media":"The Wall Street Journal","summary":"Variant might not have the same impact as previous surges, but spotty rates of vaccination mean it c","content":"<p>  Variant might not have the same impact as previous surges, but spotty rates of vaccination mean it could slow growth.  The Delta variant of the coronavirus probablywon’t derail the U.S. economy. That doesn’t mean it can’t damage parts of it.</p><p><blockquote>变异可能不会产生与之前激增相同的影响，但疫苗接种率参差不齐意味着它可能会减缓增长。冠状病毒的德尔塔变异毒株可能不会破坏美国经济。这并不意味着它不能损坏它的一部分。</blockquote></p><p> For a while, America’s progress against the Covid-19 pandemic looked very good. Millions of people were getting vaccinated each day, Covid-19 cases, hospitalizations and deaths were falling, and a return to something like normal beckoned. But then the vaccine rollout slowed markedly just as the far more contagiousDelta variant took hold. Cases, hospitalizations and deaths have begun to rise.</p><p><blockquote>有一段时间，美国对抗新冠肺炎疫情的进展看起来非常好。每天都有数百万人接种疫苗，新冠肺炎病例、住院和死亡人数都在下降，回归正常状态正在招手。但随后，随着传染性更强的Delta变种的出现，疫苗的推出明显放缓。病例、住院和死亡人数开始上升。</blockquote></p><p> It is tempting to imagine the Delta variant won’t dent the economy at all.</p><p><blockquote>人们很容易想象德尔塔变异毒株根本不会削弱经济。</blockquote></p><p> Across the board, state and local officials seem far less apt to dial up restrictions in response to rising Covid-19 cases than they were a year ago, while the places with low vaccine uptake also happen to be the places that are most resistant to restrictions. Moreover, many people are vaccinated—particularly the elderly—and with the apparent efficacy of current vaccines against the Delta variant, the U.S. seems unlikely to revisit the staggering mortality statistics of the sort it experienced before vaccines became widely available. Finally, the savings many Americans built up over the past year left them with ample money to throw around, while businesses’ scramble for workers points to a labor market that should keep generating income gains.</p><p><blockquote>总的来说，与一年前相比，州和地方官员似乎不太倾向于针对不断上升的新冠肺炎病例采取限制措施，而疫苗接种率低的地方也恰好是最抵制限制的地方。此外，许多人接种了疫苗——尤其是老年人——而且鉴于当前疫苗对德尔塔变异毒株的明显功效，美国似乎不太可能重温疫苗广泛使用之前经历的令人震惊的死亡率统计数据。最后，许多美国人在过去一年积累的储蓄让他们有足够的钱可以挥霍，而企业对工人的争夺表明劳动力市场应该会继续产生收入增长。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/dc6f808b2d4e2353d6504f76af7f3af0\" tg-width=\"737\" tg-height=\"511\" width=\"100%\" height=\"auto\">Those are all things that should ensure the economy continues to grow, but it probably won’t grow as swiftly as it otherwise could have. Worries about the Delta variant will lead some people to refrain from entering crowded settings, such as restaurants or airplanes, while also making them more cautious about spending down any savings. Some companieswill delay their return to the office, as Apple just did, and that will hurt downtown restaurants and the like that depend on office workers’ business.</p><p><blockquote>这些都是应该确保经济继续增长的事情，但它可能不会像其他情况下那样快速增长。对德尔塔变异毒株的担忧将导致一些人避免进入拥挤的环境，如餐馆或飞机，同时也使他们对花掉任何积蓄更加谨慎。一些公司会推迟返回办公室，就像苹果刚刚所做的那样，这将损害依赖上班族业务的市中心餐馆等。</blockquote></p><p> Bear in mind that the places where vaccine hesitancy is high and Covid-19 worries low aren’t monolithic: Some share of the population will up their caution, in some cases even if they are fully vaccinated for fear of a breakthrough infection. And the more new cases there are in their communities, the more cautious they will become.</p><p><blockquote>请记住，对疫苗犹豫不决程度高、对新冠肺炎担忧程度低的地方并不是铁板一块：有些人会更加谨慎，在某些情况下，即使他们因为担心突破性感染而完全接种了疫苗。而且他们社区的新病例越多，他们就会变得越谨慎。</blockquote></p><p> Nor are places where vaccination rates are better necessarily going to avoid the fallout from the contagious Delta variant. Around 72% of the 18 and over population of Los Angeles County have received at least once shot, more than the country at large, yet with case rates and hospitalizations rising, last week it reinstatedan order to wear masks indoorsin businesses and public places.</p><p><blockquote>疫苗接种率较高的地方也不一定能避免传染性德尔塔变异毒株的影响。洛杉矶县18岁及以上人口中约有72%至少接种过一次疫苗，比全国都多，但随着病例率和住院率的上升，上周恢复了在室内企业和公共场所戴口罩的命令。</blockquote></p><p> Then there is the question of what the start of the coming school year might look like. Children under the age of 12 aren’t eligible for vaccination, and authorization for children between 5 and 11 looks as if it won’t comeuntil sometime in the fall, at the earliest. Most schools intend to return to in-person classes, with some offering remote options, but the Delta variant could upend some of those plans.</p><p><blockquote>接下来的问题是，下一学年的开始会是什么样子。12岁以下的儿童没有资格接种疫苗，对5至11岁儿童的授权看起来最早要到秋季的某个时候才会到来。大多数学校打算恢复面授课程，有些学校提供远程选项，但德尔塔变异毒株可能会颠覆其中一些计划。</blockquote></p><p> At the very least parents might need to prepare for the possibility of a positive Covid test shutting down a classroom, leaving their children, and them, stuck at home. Strategists at Evercore ISI point out that the return to school this fall was supposed to free parents for work, boosting the labor supply. But some of the job growth and easing of hiring strains that could create might now be deferred.</p><p><blockquote>至少，父母可能需要为Covid测试呈阳性的可能性做好准备，关闭教室，让他们的孩子和他们被困在家里。Evercore ISI的策略师指出，今年秋天返校本应让家长可以自由工作，从而增加劳动力供应。但一些就业增长和招聘压力的缓解现在可能会被推迟。</blockquote></p><p> The economy has been growing since April last year—a point brought home by the National Bureau of Economic Research’srecent determinationthat that was when the brief, severe recession the pandemic brought on ended. It kept growing despite a new surge in Covid-19 infections last summer and another wave in the late fall through winter. Unlike in those previous surges, many Americans have been vaccinated so the impact won’t be as severe as it otherwise might have been.</p><p><blockquote>自去年4月以来，经济一直在增长——美国国家经济研究局（National Bureau of Economic Research）最近确定，这是疫情带来的短暂而严重的衰退结束的时候。尽管去年夏天新冠肺炎感染人数出现新的激增，并且在深秋到冬季又出现了一波感染，但它仍在继续增长。与之前的激增不同，许多美国人已经接种了疫苗，因此影响不会像原本可能的那样严重。</blockquote></p><p> But things could have been so much better.</p><p><blockquote>但是事情本可以好得多。</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>Delta Variant Can Still Clip U.S. Economy’s Wings<blockquote>德尔塔变异毒株仍然可以夹住美国经济的翅膀</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\">\nDelta Variant Can Still Clip U.S. Economy’s Wings<blockquote>德尔塔变异毒株仍然可以夹住美国经济的翅膀</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-07-22 21:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Variant might not have the same impact as previous surges, but spotty rates of vaccination mean it could slow growth.  The Delta variant of the coronavirus probablywon’t derail the U.S. economy. That doesn’t mean it can’t damage parts of it.</p><p><blockquote>变异可能不会产生与之前激增相同的影响，但疫苗接种率参差不齐意味着它可能会减缓增长。冠状病毒的德尔塔变异毒株可能不会破坏美国经济。这并不意味着它不能损坏它的一部分。</blockquote></p><p> For a while, America’s progress against the Covid-19 pandemic looked very good. Millions of people were getting vaccinated each day, Covid-19 cases, hospitalizations and deaths were falling, and a return to something like normal beckoned. But then the vaccine rollout slowed markedly just as the far more contagiousDelta variant took hold. Cases, hospitalizations and deaths have begun to rise.</p><p><blockquote>有一段时间，美国对抗新冠肺炎疫情的进展看起来非常好。每天都有数百万人接种疫苗，新冠肺炎病例、住院和死亡人数都在下降，回归正常状态正在招手。但随后，随着传染性更强的Delta变种的出现，疫苗的推出明显放缓。病例、住院和死亡人数开始上升。</blockquote></p><p> It is tempting to imagine the Delta variant won’t dent the economy at all.</p><p><blockquote>人们很容易想象德尔塔变异毒株根本不会削弱经济。</blockquote></p><p> Across the board, state and local officials seem far less apt to dial up restrictions in response to rising Covid-19 cases than they were a year ago, while the places with low vaccine uptake also happen to be the places that are most resistant to restrictions. Moreover, many people are vaccinated—particularly the elderly—and with the apparent efficacy of current vaccines against the Delta variant, the U.S. seems unlikely to revisit the staggering mortality statistics of the sort it experienced before vaccines became widely available. Finally, the savings many Americans built up over the past year left them with ample money to throw around, while businesses’ scramble for workers points to a labor market that should keep generating income gains.</p><p><blockquote>总的来说，与一年前相比，州和地方官员似乎不太倾向于针对不断上升的新冠肺炎病例采取限制措施，而疫苗接种率低的地方也恰好是最抵制限制的地方。此外，许多人接种了疫苗——尤其是老年人——而且鉴于当前疫苗对德尔塔变异毒株的明显功效，美国似乎不太可能重温疫苗广泛使用之前经历的令人震惊的死亡率统计数据。最后，许多美国人在过去一年积累的储蓄让他们有足够的钱可以挥霍，而企业对工人的争夺表明劳动力市场应该会继续产生收入增长。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/dc6f808b2d4e2353d6504f76af7f3af0\" tg-width=\"737\" tg-height=\"511\" width=\"100%\" height=\"auto\">Those are all things that should ensure the economy continues to grow, but it probably won’t grow as swiftly as it otherwise could have. Worries about the Delta variant will lead some people to refrain from entering crowded settings, such as restaurants or airplanes, while also making them more cautious about spending down any savings. Some companieswill delay their return to the office, as Apple just did, and that will hurt downtown restaurants and the like that depend on office workers’ business.</p><p><blockquote>这些都是应该确保经济继续增长的事情，但它可能不会像其他情况下那样快速增长。对德尔塔变异毒株的担忧将导致一些人避免进入拥挤的环境，如餐馆或飞机，同时也使他们对花掉任何积蓄更加谨慎。一些公司会推迟返回办公室，就像苹果刚刚所做的那样，这将损害依赖上班族业务的市中心餐馆等。</blockquote></p><p> Bear in mind that the places where vaccine hesitancy is high and Covid-19 worries low aren’t monolithic: Some share of the population will up their caution, in some cases even if they are fully vaccinated for fear of a breakthrough infection. And the more new cases there are in their communities, the more cautious they will become.</p><p><blockquote>请记住，对疫苗犹豫不决程度高、对新冠肺炎担忧程度低的地方并不是铁板一块：有些人会更加谨慎，在某些情况下，即使他们因为担心突破性感染而完全接种了疫苗。而且他们社区的新病例越多，他们就会变得越谨慎。</blockquote></p><p> Nor are places where vaccination rates are better necessarily going to avoid the fallout from the contagious Delta variant. Around 72% of the 18 and over population of Los Angeles County have received at least once shot, more than the country at large, yet with case rates and hospitalizations rising, last week it reinstatedan order to wear masks indoorsin businesses and public places.</p><p><blockquote>疫苗接种率较高的地方也不一定能避免传染性德尔塔变异毒株的影响。洛杉矶县18岁及以上人口中约有72%至少接种过一次疫苗，比全国都多，但随着病例率和住院率的上升，上周恢复了在室内企业和公共场所戴口罩的命令。</blockquote></p><p> Then there is the question of what the start of the coming school year might look like. Children under the age of 12 aren’t eligible for vaccination, and authorization for children between 5 and 11 looks as if it won’t comeuntil sometime in the fall, at the earliest. Most schools intend to return to in-person classes, with some offering remote options, but the Delta variant could upend some of those plans.</p><p><blockquote>接下来的问题是，下一学年的开始会是什么样子。12岁以下的儿童没有资格接种疫苗，对5至11岁儿童的授权看起来最早要到秋季的某个时候才会到来。大多数学校打算恢复面授课程，有些学校提供远程选项，但德尔塔变异毒株可能会颠覆其中一些计划。</blockquote></p><p> At the very least parents might need to prepare for the possibility of a positive Covid test shutting down a classroom, leaving their children, and them, stuck at home. Strategists at Evercore ISI point out that the return to school this fall was supposed to free parents for work, boosting the labor supply. But some of the job growth and easing of hiring strains that could create might now be deferred.</p><p><blockquote>至少，父母可能需要为Covid测试呈阳性的可能性做好准备，关闭教室，让他们的孩子和他们被困在家里。Evercore ISI的策略师指出，今年秋天返校本应让家长可以自由工作，从而增加劳动力供应。但一些就业增长和招聘压力的缓解现在可能会被推迟。</blockquote></p><p> The economy has been growing since April last year—a point brought home by the National Bureau of Economic Research’srecent determinationthat that was when the brief, severe recession the pandemic brought on ended. It kept growing despite a new surge in Covid-19 infections last summer and another wave in the late fall through winter. Unlike in those previous surges, many Americans have been vaccinated so the impact won’t be as severe as it otherwise might have been.</p><p><blockquote>自去年4月以来，经济一直在增长——美国国家经济研究局（National Bureau of Economic Research）最近确定，这是疫情带来的短暂而严重的衰退结束的时候。尽管去年夏天新冠肺炎感染人数出现新的激增，并且在深秋到冬季又出现了一波感染，但它仍在继续增长。与之前的激增不同，许多美国人已经接种了疫苗，因此影响不会像原本可能的那样严重。</blockquote></p><p> But things could have been so much better.</p><p><blockquote>但是事情本可以好得多。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/delta-variant-can-still-clip-u-s-economys-wings-11626959045?mod=rss_markets_main\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/delta-variant-can-still-clip-u-s-economys-wings-11626959045?mod=rss_markets_main","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170462111","content_text":"Variant might not have the same impact as previous surges, but spotty rates of vaccination mean it could slow growth.\n\nThe Delta variant of the coronavirus probablywon’t derail the U.S. economy. That doesn’t mean it can’t damage parts of it.\nFor a while, America’s progress against the Covid-19 pandemic looked very good. Millions of people were getting vaccinated each day, Covid-19 cases, hospitalizations and deaths were falling, and a return to something like normal beckoned. But then the vaccine rollout slowed markedly just as the far more contagiousDelta variant took hold. Cases, hospitalizations and deaths have begun to rise.\nIt is tempting to imagine the Delta variant won’t dent the economy at all.\nAcross the board, state and local officials seem far less apt to dial up restrictions in response to rising Covid-19 cases than they were a year ago, while the places with low vaccine uptake also happen to be the places that are most resistant to restrictions. Moreover, many people are vaccinated—particularly the elderly—and with the apparent efficacy of current vaccines against the Delta variant, the U.S. seems unlikely to revisit the staggering mortality statistics of the sort it experienced before vaccines became widely available. Finally, the savings many Americans built up over the past year left them with ample money to throw around, while businesses’ scramble for workers points to a labor market that should keep generating income gains.\nThose are all things that should ensure the economy continues to grow, but it probably won’t grow as swiftly as it otherwise could have. Worries about the Delta variant will lead some people to refrain from entering crowded settings, such as restaurants or airplanes, while also making them more cautious about spending down any savings. Some companieswill delay their return to the office, as Apple just did, and that will hurt downtown restaurants and the like that depend on office workers’ business.\nBear in mind that the places where vaccine hesitancy is high and Covid-19 worries low aren’t monolithic: Some share of the population will up their caution, in some cases even if they are fully vaccinated for fear of a breakthrough infection. And the more new cases there are in their communities, the more cautious they will become.\nNor are places where vaccination rates are better necessarily going to avoid the fallout from the contagious Delta variant. Around 72% of the 18 and over population of Los Angeles County have received at least once shot, more than the country at large, yet with case rates and hospitalizations rising, last week it reinstatedan order to wear masks indoorsin businesses and public places.\nThen there is the question of what the start of the coming school year might look like. Children under the age of 12 aren’t eligible for vaccination, and authorization for children between 5 and 11 looks as if it won’t comeuntil sometime in the fall, at the earliest. Most schools intend to return to in-person classes, with some offering remote options, but the Delta variant could upend some of those plans.\nAt the very least parents might need to prepare for the possibility of a positive Covid test shutting down a classroom, leaving their children, and them, stuck at home. Strategists at Evercore ISI point out that the return to school this fall was supposed to free parents for work, boosting the labor supply. But some of the job growth and easing of hiring strains that could create might now be deferred.\nThe economy has been growing since April last year—a point brought home by the National Bureau of Economic Research’srecent determinationthat that was when the brief, severe recession the pandemic brought on ended. It kept growing despite a new surge in Covid-19 infections last summer and another wave in the late fall through winter. Unlike in those previous surges, many Americans have been vaccinated so the impact won’t be as severe as it otherwise might have been.\nBut things could have been so much better.","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176803431,"gmtCreate":1626874853523,"gmtModify":1631889080904,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Give me a like","listText":"Give me a like","text":"Give me a like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/176803431","repostId":"2153646615","repostType":4,"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171934206,"gmtCreate":1626701932605,"gmtModify":1631889080907,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171934206","repostId":"1146536243","repostType":4,"repost":{"id":"1146536243","kind":"news","pubTimestamp":1626683272,"share":"https://www.laohu8.com/m/news/1146536243?lang=zh_CN&edition=full","pubTime":"2021-07-19 16:27","market":"us","language":"en","title":"Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146536243","media":"zerohedge","summary":"This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","content":"<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为这个经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到市场的激烈争论。每一项都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情造成了有记录以来最大幅度的产出下降。随后，在政策支持的帮助下，经济活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种暴力的下跌和上涨从未允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场中的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得光滑和抛光。2003-07年的周期以大萧条以来最大的银行和房地产危机结束。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言喻的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么我们使用术语“周期”。经济和市场往往遵循周期性模式，这些模式往往会在市场表现中显现出来。我们关心的是那些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等周期后期条件？是的。由此产生的股票、信贷、收益率和收益率曲线的低谷是否符合市场和经济低点之间的通常节奏？他们做到了。随后反弹的领头羊是否是通常的早期周期赢家，如小型股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者这些事情实际上是正常的。如果到目前为止已经发生了很多“正常”的循环行为，那么它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏的推进，这些模式应该会发生变化。正如我的同事迈克尔·威尔逊所指出的，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅16个月。我们看到当前状况与2004年上半年有许多相似之处，2004年上半年是大幅通货再膨胀反弹之后的周期中期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（见增长恐慌周年纪念，2021年7月11日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为人们总能找到适合他们特定周期观点的指标，所以我们长期以来一直是综合指数的粉丝。这就是我们的“周期模型”，它结合了美国宏观、信贷周期和企业侵略性的十个指标，以衡量我们在市场周期中的位置。在2019年6月进入周期后期“低迷”和2020年4月进入周期早期“修复”后，该指数飙升。<b>它上升得如此之快，以至于已经过了下一个阶段（“复苏”），直接进入了“扩张”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>这很不寻常。“扩张”意味着捕捉“比正常情况更好且正在改善”的条件，<b>自1980年以来，“低迷”结束后平均需要35个月才能实现这一目标</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这是我们的论点，它体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，信贷相对于其他风险资产越差；信贷从“繁荣”中获得的收益较少，如果下一次衰退提前到来，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多的供应</b>在我们周期模型的“扩张”阶段，美国IG和HY Credit N1200万超额回报分别比平均水平差29个基点和161个基点。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现却参差不齐</b>投资者应该尝试承担违约风险而不是利差风险：我们的信用策略师喜欢持有CDX HY 0-15%，并用CDX IG付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合更加平衡</b>我们看好美国和欧洲的医疗保健行业，因为该行业具有几个良好的因素：质量、低估值、高利差和低波动性。从全球来看，欧洲和日本的股市往往跑赢“中期周期”，我们认为它们可以再次这样做。</li><li><b>利率对复苏过于悲观。在我们周期模型的“扩张”阶段，美国10年期国债1200万奈拉回报率比平均水平低97个基点</b>.Guneet Dhingra和我们的美国利率策略团队在全球资产配置中转移了跑输大盘美国10年期国债，而我们反过来又转移了跑输大盘政府债券。</li></ul>这种循环是不寻常的。大多数“正常”周期都是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</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>Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</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\">\nMorgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-19 16:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为这个经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到市场的激烈争论。每一项都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情造成了有记录以来最大幅度的产出下降。随后，在政策支持的帮助下，经济活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种暴力的下跌和上涨从未允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场中的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得光滑和抛光。2003-07年的周期以大萧条以来最大的银行和房地产危机结束。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言喻的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么我们使用术语“周期”。经济和市场往往遵循周期性模式，这些模式往往会在市场表现中显现出来。我们关心的是那些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等周期后期条件？是的。由此产生的股票、信贷、收益率和收益率曲线的低谷是否符合市场和经济低点之间的通常节奏？他们做到了。随后反弹的领头羊是否是通常的早期周期赢家，如小型股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者这些事情实际上是正常的。如果到目前为止已经发生了很多“正常”的循环行为，那么它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏的推进，这些模式应该会发生变化。正如我的同事迈克尔·威尔逊所指出的，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅16个月。我们看到当前状况与2004年上半年有许多相似之处，2004年上半年是大幅通货再膨胀反弹之后的周期中期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（见增长恐慌周年纪念，2021年7月11日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为人们总能找到适合他们特定周期观点的指标，所以我们长期以来一直是综合指数的粉丝。这就是我们的“周期模型”，它结合了美国宏观、信贷周期和企业侵略性的十个指标，以衡量我们在市场周期中的位置。在2019年6月进入周期后期“低迷”和2020年4月进入周期早期“修复”后，该指数飙升。<b>它上升得如此之快，以至于已经过了下一个阶段（“复苏”），直接进入了“扩张”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>这很不寻常。“扩张”意味着捕捉“比正常情况更好且正在改善”的条件，<b>自1980年以来，“低迷”结束后平均需要35个月才能实现这一目标</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这是我们的论点，它体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，信贷相对于其他风险资产越差；信贷从“繁荣”中获得的收益较少，如果下一次衰退提前到来，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多的供应</b>在我们周期模型的“扩张”阶段，美国IG和HY Credit N1200万超额回报分别比平均水平差29个基点和161个基点。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现却参差不齐</b>投资者应该尝试承担违约风险而不是利差风险：我们的信用策略师喜欢持有CDX HY 0-15%，并用CDX IG付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合更加平衡</b>我们看好美国和欧洲的医疗保健行业，因为该行业具有几个良好的因素：质量、低估值、高利差和低波动性。从全球来看，欧洲和日本的股市往往跑赢“中期周期”，我们认为它们可以再次这样做。</li><li><b>利率对复苏过于悲观。在我们周期模型的“扩张”阶段，美国10年期国债1200万奈拉回报率比平均水平低97个基点</b>.Guneet Dhingra和我们的美国利率策略团队在全球资产配置中转移了跑输大盘美国10年期国债，而我们反过来又转移了跑输大盘政府债券。</li></ul>这种循环是不寻常的。大多数“正常”周期都是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146536243","content_text":"We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.\nThe debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.\nBut 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.\nInstead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.\nWas last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.\nIf it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are. If a lot of 'normal' cycle behavior has played out so far, it should continue to do so.\nSpecifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see The Growth Scare Anniversary, July 11, 2021).\nBecause one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.\nThisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',and since 1980, it has taken an average of 35 months to get there after 'downturn' ends. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.It also hints at another possibility: this hotter cycle could be shorter.This is our thesis, and it’s showing up in our quantitative measure.\nAll this has a number of implications:\n\nThe shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.\nIn many of those periods, more mixed credit performance occurs despite default rates remaining low. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.\nIn equities, we think that our model supports more balance in portfolios. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.\nInterest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.\n\nThis cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179571455,"gmtCreate":1626568497277,"gmtModify":1631889080912,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Done","listText":"Done","text":"Done","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/179571455","repostId":"1183956332","repostType":4,"isVote":1,"tweetType":1,"viewCount":572,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170246325,"gmtCreate":1626439155767,"gmtModify":1631889080915,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Give me a like","listText":"Give me a like","text":"Give me a like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/170246325","repostId":"1143386164","repostType":4,"repost":{"id":"1143386164","kind":"news","pubTimestamp":1626436074,"share":"https://www.laohu8.com/m/news/1143386164?lang=zh_CN&edition=full","pubTime":"2021-07-16 19:47","market":"fut","language":"en","title":"Oil Heads for Biggest Weekly Loss Since March on Virus Comeback<blockquote>由于病毒卷土重来，油价将创下三月份以来最大单周跌幅</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143386164","media":"Bloomberg","summary":"(Bloomberg) -- Oil headed for the biggest weekly loss since mid-March as a resurgence of Covid-19 th","content":"<p>(Bloomberg) -- Oil headed for the biggest weekly loss since mid-March as a resurgence of Covid-19 threatened the outlook for global fuel demand demand.</p><p><blockquote>（彭博社）-由于Covid-19的死灰复燃威胁到全球燃料需求的前景，油价将创下自3月中旬以来的最大单周跌幅。</blockquote></p><p> Futures traded around $72 a barrel in New York, and are heading for a weekly decline of 3.4%. The fast-spreading delta variant is triggering renewed restrictions on movement as it sweeps across the globe, eroding fuel consumption in several Asian countries that had buoyed the recovery.</p><p><blockquote>纽约期货交易价格约为每桶72美元，周跌幅为3.4%。快速蔓延的德尔塔变异毒株席卷全球，引发了新的行动限制，侵蚀了几个亚洲国家的燃料消耗，而这些国家曾推动了经济复苏。</blockquote></p><p> At the same time, crude markets face the prospect of extra supplies from the OPEC+ coalition, as the United Arab Emirates and Saudi Arabia repair a rift that has stymied the group’s decision-making process.</p><p><blockquote>与此同时，随着阿联酋和沙特阿拉伯修复阻碍该组织决策过程的裂痕，原油市场面临欧佩克+联盟额外供应的前景。</blockquote></p><p> Price picked up on Friday as the dollar gave up some of this week’s gains, boosting the appeal of commodities priced in the U.S. currency.</p><p><blockquote>由于美元回吐了本周的部分涨幅，周五价格回升，增强了以美元计价的大宗商品的吸引力。</blockquote></p><p> Amid the concerns over demand, the structure of U.S. crude prices has faltered. While there’s still a premium on the most immediate contracts -- a condition known as backwardation that signals tight supplies -- it has eased significantly in some parts of the forward curve. The prompt premium stands at just 22 cents a barrel, from 75 cents a week ago.</p><p><blockquote>在对需求的担忧中，美国原油价格的结构已经动摇。尽管最直接的合约仍然存在溢价——这种情况被称为现货溢价，表明供应紧张——但在远期曲线的某些部分，溢价已显着缓解。即期溢价仅为每桶22美分，高于一周前的75美分。</blockquote></p><p> “Oil prices have been under pressure,” said Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt. “We could quickly end up with too much oil being placed on the market.”</p><p><blockquote>德国商业银行驻法兰克福分析师Carsten Fritsch表示：“油价一直承压。”“我们可能很快就会有太多的石油投放到市场上。”</blockquote></p><p> Still, crude has rallied almost 50% this year as the vaccine rollout helps restore economic activity, and forecasters from the International Energy Agency to Citigroup Inc. predict that the market will get tighter in coming months. The Organization of Petroleum Exporting Countries itself expects the recovery in demand for its crude will continue into next year.</p><p><blockquote>尽管如此，由于疫苗的推出有助于恢复经济活动，原油价格今年仍上涨了近50%，从国际能源署到花旗集团的预测者预测，未来几个月市场将变得更加紧张。石油输出国组织本身预计其原油需求的复苏将持续到明年。</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Heads for Biggest Weekly Loss Since March on Virus Comeback<blockquote>由于病毒卷土重来，油价将创下三月份以来最大单周跌幅</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\">\nOil Heads for Biggest Weekly Loss Since March on Virus Comeback<blockquote>由于病毒卷土重来，油价将创下三月份以来最大单周跌幅</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-07-16 19:47</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Oil headed for the biggest weekly loss since mid-March as a resurgence of Covid-19 threatened the outlook for global fuel demand demand.</p><p><blockquote>（彭博社）-由于Covid-19的死灰复燃威胁到全球燃料需求的前景，油价将创下自3月中旬以来的最大单周跌幅。</blockquote></p><p> Futures traded around $72 a barrel in New York, and are heading for a weekly decline of 3.4%. The fast-spreading delta variant is triggering renewed restrictions on movement as it sweeps across the globe, eroding fuel consumption in several Asian countries that had buoyed the recovery.</p><p><blockquote>纽约期货交易价格约为每桶72美元，周跌幅为3.4%。快速蔓延的德尔塔变异毒株席卷全球，引发了新的行动限制，侵蚀了几个亚洲国家的燃料消耗，而这些国家曾推动了经济复苏。</blockquote></p><p> At the same time, crude markets face the prospect of extra supplies from the OPEC+ coalition, as the United Arab Emirates and Saudi Arabia repair a rift that has stymied the group’s decision-making process.</p><p><blockquote>与此同时，随着阿联酋和沙特阿拉伯修复阻碍该组织决策过程的裂痕，原油市场面临欧佩克+联盟额外供应的前景。</blockquote></p><p> Price picked up on Friday as the dollar gave up some of this week’s gains, boosting the appeal of commodities priced in the U.S. currency.</p><p><blockquote>由于美元回吐了本周的部分涨幅，周五价格回升，增强了以美元计价的大宗商品的吸引力。</blockquote></p><p> Amid the concerns over demand, the structure of U.S. crude prices has faltered. While there’s still a premium on the most immediate contracts -- a condition known as backwardation that signals tight supplies -- it has eased significantly in some parts of the forward curve. The prompt premium stands at just 22 cents a barrel, from 75 cents a week ago.</p><p><blockquote>在对需求的担忧中，美国原油价格的结构已经动摇。尽管最直接的合约仍然存在溢价——这种情况被称为现货溢价，表明供应紧张——但在远期曲线的某些部分，溢价已显着缓解。即期溢价仅为每桶22美分，高于一周前的75美分。</blockquote></p><p> “Oil prices have been under pressure,” said Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt. “We could quickly end up with too much oil being placed on the market.”</p><p><blockquote>德国商业银行驻法兰克福分析师Carsten Fritsch表示：“油价一直承压。”“我们可能很快就会有太多的石油投放到市场上。”</blockquote></p><p> Still, crude has rallied almost 50% this year as the vaccine rollout helps restore economic activity, and forecasters from the International Energy Agency to Citigroup Inc. predict that the market will get tighter in coming months. The Organization of Petroleum Exporting Countries itself expects the recovery in demand for its crude will continue into next year.</p><p><blockquote>尽管如此，由于疫苗的推出有助于恢复经济活动，原油价格今年仍上涨了近50%，从国际能源署到花旗集团的预测者预测，未来几个月市场将变得更加紧张。石油输出国组织本身预计其原油需求的复苏将持续到明年。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/oil-set-worst-week-since-000148698.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XOM":"埃克森美孚"},"source_url":"https://finance.yahoo.com/news/oil-set-worst-week-since-000148698.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143386164","content_text":"(Bloomberg) -- Oil headed for the biggest weekly loss since mid-March as a resurgence of Covid-19 threatened the outlook for global fuel demand demand.\nFutures traded around $72 a barrel in New York, and are heading for a weekly decline of 3.4%. The fast-spreading delta variant is triggering renewed restrictions on movement as it sweeps across the globe, eroding fuel consumption in several Asian countries that had buoyed the recovery.\nAt the same time, crude markets face the prospect of extra supplies from the OPEC+ coalition, as the United Arab Emirates and Saudi Arabia repair a rift that has stymied the group’s decision-making process.\nPrice picked up on Friday as the dollar gave up some of this week’s gains, boosting the appeal of commodities priced in the U.S. currency.\nAmid the concerns over demand, the structure of U.S. crude prices has faltered. While there’s still a premium on the most immediate contracts -- a condition known as backwardation that signals tight supplies -- it has eased significantly in some parts of the forward curve. The prompt premium stands at just 22 cents a barrel, from 75 cents a week ago.\n“Oil prices have been under pressure,” said Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt. “We could quickly end up with too much oil being placed on the market.”\nStill, crude has rallied almost 50% this year as the vaccine rollout helps restore economic activity, and forecasters from the International Energy Agency to Citigroup Inc. predict that the market will get tighter in coming months. The Organization of Petroleum Exporting Countries itself expects the recovery in demand for its crude will continue into next year.","news_type":1,"symbols_score_info":{"CLmain":0.9,"XOM":0.9}},"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145039036,"gmtCreate":1626182142325,"gmtModify":1633929341304,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Give me a like","listText":"Give me a like","text":"Give me a 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pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/140370725","repostId":"1163143630","repostType":4,"isVote":1,"tweetType":1,"viewCount":611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":143133738,"gmtCreate":1625778347824,"gmtModify":1633937522269,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like 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Hahaha buy? Comment","listText":"Seriously? Hahaha buy? Comment","text":"Seriously? Hahaha buy? Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/359805253","repostId":"2121140614","repostType":4,"isVote":1,"tweetType":1,"viewCount":674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325076718,"gmtCreate":1615854431434,"gmtModify":1703493968414,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Awesom! Give me a comment","listText":"Awesom! Give me a comment","text":"Awesom! Give me a comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/325076718","repostId":"1189586894","repostType":4,"isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806000057,"gmtCreate":1627613828179,"gmtModify":1631889080891,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806000057","repostId":"2155184148","repostType":4,"isVote":1,"tweetType":1,"viewCount":2191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116055227,"gmtCreate":1622767354269,"gmtModify":1634098260192,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/116055227","repostId":"1182667134","repostType":4,"isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324743693,"gmtCreate":1616033848512,"gmtModify":1703496656135,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Give me ur comment","listText":"Give me ur comment","text":"Give me ur comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/324743693","repostId":"1148211036","repostType":4,"repost":{"id":"1148211036","kind":"news","pubTimestamp":1616033425,"share":"https://www.laohu8.com/m/news/1148211036?lang=zh_CN&edition=full","pubTime":"2021-03-18 10:10","market":"us","language":"en","title":"Why Virgin Galactic Stock Popped Wednesday<blockquote>为什么维珍银河股票周三上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148211036","media":"Motley Fool","summary":"Was it general market optimism or analyst bullishness?\nWhat happened\nOn Wednesday,Virgin Galactic (N","content":"<p>Was it general market optimism or analyst bullishness?</p><p><blockquote>是市场普遍乐观还是分析师看涨？</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> On Wednesday,<b>Virgin Galactic</b>&nbsp;(NYSE:SPCE)&nbsp;stock bounced back from Tuesday's sell-off. Because the share price really took off after 2 p.m. EDT, chances are that most of those gains (3.8% by the closing bell) came in response to news that the Federal Reserve plans to keep its benchmark fed funds interest rate near 0% through 2023 -- a policy that will limit the degree to which&nbsp;bonds will be competing&nbsp;with&nbsp;stocks&nbsp;for investors' attention. That announcement left investors generally ebullient about the stock market's prospects.</p><p><blockquote>周三，<b>维珍银河</b>（纽约证券交易所代码：SPCE）股票从周二的抛售中反弹。因为股价在下午2点之后才真正起飞。美国东部时间，大部分涨幅（截至收盘上涨3.8%）很可能是对美联储计划在2023年之前将基准联邦基金利率保持在0%附近的消息的回应——这一政策将限制债券与股票争夺投资者注意力的程度。这一消息让投资者普遍对股市前景充满热情。</blockquote></p><p> But there was also some company-specific good news for Virgin Galactic.</p><p><blockquote>但对于维珍银河来说，也有一些公司特有的好消息。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9fd2dbdf32c3daf753c45305e30b90ea\" tg-width=\"2000\" tg-height=\"1334\"><span>IMAGE SOURCE: VIRGIN GALACTIC.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：维珍银河。</span></p></blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Specifically,StreetInsider.com&nbsp;reported that after the close of trading Tuesday, analysts at Truist Securities (formerly BB&amp;T Securities, prior to BB&amp;T's merger with SunTrust),initiated coverage&nbsp;of Virgin Galactic stock with a buy rating and a $50 price target.</p><p><blockquote>具体来说，StreetInsider.com报道称，周二收盘后，Truist Securities（前身为BB&amp;T Securities，在BB&amp;T与SunTrust合并之前）的分析师首次对维珍银河股票给予买入评级和50美元的目标价。</blockquote></p><p> As \"one of the first market entrants, with proprietary technology, vertically integrated operations\" (such as an integrated spaceship-building operation -- The Spaceship Company), and \"plans for a consumer-oriented experience leveraging the Virgin brand,\" the Truist analysts predict that by 2030, Virgin Galactic will control 50% of the space tourism market.</p><p><blockquote>作为“首批市场进入者之一，拥有专有技术、垂直整合业务”（例如综合宇宙飞船建造业务——宇宙飞船公司），以及“利用维珍品牌提供面向消费者的体验的计划”，Truist分析师预测，到2030年，维珍银河将控制50%的太空旅游市场。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> So far, so good. The space tourism market doesn't really exist yet, after all, and only two companies have clearly stated their intention to create one -- Virgin Galactic and Jeff Bezos's Blue Origin. In a situation like this one, guesstimating that these two competitors might split the market 50-50 seems perfectly logical -- especially if you give the companies most of a decade to work out the kinks and begin sending tourists to space.</p><p><blockquote>到目前为止，一切顺利。毕竟，太空旅游市场还没有真正存在，只有两家公司明确表示打算创建一个——维珍银河和杰夫·贝索斯的蓝色起源。在这种情况下，猜测这两个竞争对手可能会50-50瓜分市场似乎是完全合乎逻辑的——特别是如果你给这些公司十年的时间来解决问题并开始将游客送入太空。</blockquote></p><p> In the nearer term, meanwhile, Truist stated an opinion held by some Virgin Galactic skeptics: The fact that the company has&nbsp;postponed test flight operations into May 2021&nbsp;probably means that it won't be able to begin flying commercially this year. In Truist's view, a commercial start-up is more \"likely ... in early 2022.\"</p><p><blockquote>与此同时，从近期来看，Truist表达了一些维珍银河怀疑论者的观点：该公司将试飞运营推迟到2021年5月的事实可能意味着它今年将无法开始商业飞行。在Truist看来，商业初创企业“更有可能……在2022年初”。</blockquote></p><p> Near term, that sounds more like a bear argument to me -- but it's not preventing Truist from rating Virgin Galactic stock a buy.</p><p><blockquote>从短期来看，对我来说，这听起来更像是看跌论点，但这并不能阻止Truist将维珍银河股票评级为买入。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Virgin Galactic Stock Popped Wednesday<blockquote>为什么维珍银河股票周三上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Virgin Galactic Stock Popped Wednesday<blockquote>为什么维珍银河股票周三上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-18 10:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Was it general market optimism or analyst bullishness?</p><p><blockquote>是市场普遍乐观还是分析师看涨？</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> On Wednesday,<b>Virgin Galactic</b>&nbsp;(NYSE:SPCE)&nbsp;stock bounced back from Tuesday's sell-off. Because the share price really took off after 2 p.m. EDT, chances are that most of those gains (3.8% by the closing bell) came in response to news that the Federal Reserve plans to keep its benchmark fed funds interest rate near 0% through 2023 -- a policy that will limit the degree to which&nbsp;bonds will be competing&nbsp;with&nbsp;stocks&nbsp;for investors' attention. That announcement left investors generally ebullient about the stock market's prospects.</p><p><blockquote>周三，<b>维珍银河</b>（纽约证券交易所代码：SPCE）股票从周二的抛售中反弹。因为股价在下午2点之后才真正起飞。美国东部时间，大部分涨幅（截至收盘上涨3.8%）很可能是对美联储计划在2023年之前将基准联邦基金利率保持在0%附近的消息的回应——这一政策将限制债券与股票争夺投资者注意力的程度。这一消息让投资者普遍对股市前景充满热情。</blockquote></p><p> But there was also some company-specific good news for Virgin Galactic.</p><p><blockquote>但对于维珍银河来说，也有一些公司特有的好消息。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9fd2dbdf32c3daf753c45305e30b90ea\" tg-width=\"2000\" tg-height=\"1334\"><span>IMAGE SOURCE: VIRGIN GALACTIC.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：维珍银河。</span></p></blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Specifically,StreetInsider.com&nbsp;reported that after the close of trading Tuesday, analysts at Truist Securities (formerly BB&amp;T Securities, prior to BB&amp;T's merger with SunTrust),initiated coverage&nbsp;of Virgin Galactic stock with a buy rating and a $50 price target.</p><p><blockquote>具体来说，StreetInsider.com报道称，周二收盘后，Truist Securities（前身为BB&amp;T Securities，在BB&amp;T与SunTrust合并之前）的分析师首次对维珍银河股票给予买入评级和50美元的目标价。</blockquote></p><p> As \"one of the first market entrants, with proprietary technology, vertically integrated operations\" (such as an integrated spaceship-building operation -- The Spaceship Company), and \"plans for a consumer-oriented experience leveraging the Virgin brand,\" the Truist analysts predict that by 2030, Virgin Galactic will control 50% of the space tourism market.</p><p><blockquote>作为“首批市场进入者之一，拥有专有技术、垂直整合业务”（例如综合宇宙飞船建造业务——宇宙飞船公司），以及“利用维珍品牌提供面向消费者的体验的计划”，Truist分析师预测，到2030年，维珍银河将控制50%的太空旅游市场。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> So far, so good. The space tourism market doesn't really exist yet, after all, and only two companies have clearly stated their intention to create one -- Virgin Galactic and Jeff Bezos's Blue Origin. In a situation like this one, guesstimating that these two competitors might split the market 50-50 seems perfectly logical -- especially if you give the companies most of a decade to work out the kinks and begin sending tourists to space.</p><p><blockquote>到目前为止，一切顺利。毕竟，太空旅游市场还没有真正存在，只有两家公司明确表示打算创建一个——维珍银河和杰夫·贝索斯的蓝色起源。在这种情况下，猜测这两个竞争对手可能会50-50瓜分市场似乎是完全合乎逻辑的——特别是如果你给这些公司十年的时间来解决问题并开始将游客送入太空。</blockquote></p><p> In the nearer term, meanwhile, Truist stated an opinion held by some Virgin Galactic skeptics: The fact that the company has&nbsp;postponed test flight operations into May 2021&nbsp;probably means that it won't be able to begin flying commercially this year. In Truist's view, a commercial start-up is more \"likely ... in early 2022.\"</p><p><blockquote>与此同时，从近期来看，Truist表达了一些维珍银河怀疑论者的观点：该公司将试飞运营推迟到2021年5月的事实可能意味着它今年将无法开始商业飞行。在Truist看来，商业初创企业“更有可能……在2022年初”。</blockquote></p><p> Near term, that sounds more like a bear argument to me -- but it's not preventing Truist from rating Virgin Galactic stock a buy.</p><p><blockquote>从短期来看，对我来说，这听起来更像是看跌论点，但这并不能阻止Truist将维珍银河股票评级为买入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/17/why-virgin-galactic-stock-popped-today/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://www.fool.com/investing/2021/03/17/why-virgin-galactic-stock-popped-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148211036","content_text":"Was it general market optimism or analyst bullishness?\nWhat happened\nOn Wednesday,Virgin Galactic (NYSE:SPCE) stock bounced back from Tuesday's sell-off. Because the share price really took off after 2 p.m. EDT, chances are that most of those gains (3.8% by the closing bell) came in response to news that the Federal Reserve plans to keep its benchmark fed funds interest rate near 0% through 2023 -- a policy that will limit the degree to which bonds will be competing with stocks for investors' attention. That announcement left investors generally ebullient about the stock market's prospects.\nBut there was also some company-specific good news for Virgin Galactic.\nIMAGE SOURCE: VIRGIN GALACTIC.\nSo what\nSpecifically,StreetInsider.com reported that after the close of trading Tuesday, analysts at Truist Securities (formerly BB&T Securities, prior to BB&T's merger with SunTrust),initiated coverage of Virgin Galactic stock with a buy rating and a $50 price target.\nAs \"one of the first market entrants, with proprietary technology, vertically integrated operations\" (such as an integrated spaceship-building operation -- The Spaceship Company), and \"plans for a consumer-oriented experience leveraging the Virgin brand,\" the Truist analysts predict that by 2030, Virgin Galactic will control 50% of the space tourism market.\nNow what\nSo far, so good. The space tourism market doesn't really exist yet, after all, and only two companies have clearly stated their intention to create one -- Virgin Galactic and Jeff Bezos's Blue Origin. In a situation like this one, guesstimating that these two competitors might split the market 50-50 seems perfectly logical -- especially if you give the companies most of a decade to work out the kinks and begin sending tourists to space.\nIn the nearer term, meanwhile, Truist stated an opinion held by some Virgin Galactic skeptics: The fact that the company has postponed test flight operations into May 2021 probably means that it won't be able to begin flying commercially this year. In Truist's view, a commercial start-up is more \"likely ... in early 2022.\"\nNear term, that sounds more like a bear argument to me -- but it's not preventing Truist from rating Virgin Galactic stock a buy.","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":823545765,"gmtCreate":1633651576864,"gmtModify":1633651577190,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/823545765","repostId":"1142831373","repostType":4,"isVote":1,"tweetType":1,"viewCount":2606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":838997972,"gmtCreate":1629363241696,"gmtModify":1631889080888,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Give me a like","listText":"Give me a like","text":"Give me a like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/838997972","repostId":"1118120303","repostType":4,"repost":{"id":"1118120303","kind":"news","pubTimestamp":1629362423,"share":"https://www.laohu8.com/m/news/1118120303?lang=zh_CN&edition=full","pubTime":"2021-08-19 16:40","market":"us","language":"en","title":"How to Hedge Your Stock Portfolio Before Interest Rates Start Rising<blockquote>如何在利率开始上升之前对冲您的股票投资组合</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118120303","media":"Barron's","summary":"If fairy tales were made into parables about investing, the boy who cried wolf would run a tail-risk","content":"<p>If fairy tales were made into parables about investing, the boy who cried wolf would run a tail-risk fund.</p><p><blockquote>如果童话故事被改编成关于投资的寓言，喊狼来了的男孩将经营一只尾部风险基金。</blockquote></p><p> To protect his stocks, the vigilant boy would perpetually buybearish options contractsin anticipation that stock prices would fall. He would now be very busy, as many ominous events are bounding across the world’s stage.</p><p><blockquote>为了保护自己的股票，这个警惕的男孩会不断买入看跌期权合约，因为他预计股价会下跌。他现在会非常忙，因为许多不祥的事件正在世界舞台上跳跃。</blockquote></p><p> Thefall of Afghanistanis a potentially destabilizing market event, especially ahead of the 20th anniversary of the Sept. 11 terrorist attack on the U.S.</p><p><blockquote>阿富汗的陷落是一个潜在的破坏市场稳定的事件，尤其是在9月11日美国恐怖袭击20周年之前。</blockquote></p><p> The resurgence of Covid-19, weakening retail sales, China saber-rattling toward Taiwan, China mocking America’s sloppy Afghanistan withdrawal, andsigns of sticky inflationare all reasons for extra vigilance.</p><p><blockquote>Covid-19的死灰复燃、零售销售疲软、中国对台湾的武力威胁、中国嘲笑美国草率的阿富汗撤军以及粘性通胀的迹象都值得格外警惕。</blockquote></p><p> But the major event that would most alarm our hero would be the Federal Reserve’smeeting in Jackson Hole, Wyo., at the end of the month. Jerome Powell, the Fed’s chairman, is expected to speak. He is the big, bad wolf of this reimagined story.</p><p><blockquote>但最让我们的英雄震惊的重大事件将是本月底在怀俄明州杰克逊霍尔举行的美联储会议。美联储主席鲍威尔预计将发表讲话。他是这个重新想象的故事中的大灰狼。</blockquote></p><p> Powell’s speech might offer concrete clues about potential changes to monetary policy—which could pummel stocks.</p><p><blockquote>鲍威尔的讲话可能会为货币政策的潜在变化提供具体线索，这可能会打击股市。</blockquote></p><p> When interest rates are low, as they are now, investors can move far out on the so-called risk curve. It’s cheap to borrow money and thus relatively easy to make money doing something as simple asbuying dividend-paying stocksand as complex as quantitative trading. With rates low enough, even Bitcoin and emerging market debt can be attractive.</p><p><blockquote>当利率较低时，就像现在一样，投资者可以在所谓的风险曲线上走得更远。借钱很便宜，因此做一些简单的事情（如购买派息股票）和复杂的事情（如量化交易）赚钱相对容易。由于利率足够低，即使是比特币和新兴市场的债务也可能具有吸引力。</blockquote></p><p> Yet this time, even if the boy who cried wolf is wrong, investors need to be aware that many others will be listening to himahead of expected changes to interest rates.</p><p><blockquote>然而，这一次，即使喊狼来了的男孩是错的，投资者也需要意识到，许多其他人将听取他关于利率预期变化的意见。</blockquote></p><p> Stock prices are generally dancing around record highs—a phrase used in this column year after year—as historically low interest rates remain the central defining fact of the market.</p><p><blockquote>由于历史低利率仍然是市场的核心定义事实，股价通常在历史高点附近波动——这是本专栏年复一年使用的一个短语。</blockquote></p><p> But it seems that the more investors talk about corrections, or why corrections won’t happen, the bearish narrative prevails, at least for a bit.</p><p><blockquote>但似乎投资者越多地谈论调整，或者为什么调整不会发生，看跌的说法就占了上风，至少在一段时间内是这样。</blockquote></p><p> Expectations that something will soon happen to easy-money rates are leading to a burst of hedging activity.</p><p><blockquote>对宽松货币利率很快就会发生变化的预期正在导致对冲活动的爆发。</blockquote></p><p> One major investor has created a bearish position in theSPDR S&amp;P 500exchange-traded fund (ticker: SPY) that would prove profitable if the stock market fell about 4% by Sept. 3. The investor sold 25,000 September $427 put options and bought 25,000 $440 puts, all expiring on Sept. 3, to cover the Fed’s Jackson Hole symposium from Aug. 26 to Aug. 28.</p><p><blockquote>一位主要投资者在SPDR S&amp;P 500交易所交易基金（股票代码：SPDR标普500指数ETF）中建立了看跌头寸，如果股市到9月3日下跌约4%，该基金将会盈利。该投资者卖出了25,000份9月427美元看跌期权，并买入了25,000份440美元看跌期权，全部将于9月3日到期，以覆盖8月26日至8月28日举行的美联储杰克逊霍尔研讨会。</blockquote></p><p> This column has rarely offered a suggestion to hedge portfolios. It has almost always seemed better to us to sell puts to anxious investors and use the proceeds to buy upside call options to profit from stock advances.</p><p><blockquote>本专栏很少提供对冲投资组合的建议。对我们来说，向焦虑的投资者出售看跌期权并用所得收益购买上行看涨期权期权以从股票上涨中获利似乎总是更好。</blockquote></p><p> Similarly, we have been hesitant to recommend stock-replacement strategies. Because low interest rates always seemed the key ingredient in the bull market, there was seldom a strategic reason for selling stocks and buying calls.</p><p><blockquote>同样，我们也一直犹豫是否推荐股票替换策略。因为低利率似乎总是牛市的关键因素，所以很少有卖出股票和买入评级的战略理由。</blockquote></p><p> But now, using upside calls as stock surrogates does indeed seem attractive for anyone who thinks that rates could rise. The strategy is worth pondering for investors with substantial stock profits.</p><p><blockquote>但现在，对于任何认为利率可能上升的人来说，使用上行评级作为股票替代品似乎确实很有吸引力。对于股票利润丰厚的投资者来说，该策略值得深思。</blockquote></p><p> If this resonates, review your stocks. Sell enough shares to realize a profit of, say, 50% to 100% on your initial investment. If you sold 500 shares to lock in gains, for example, buy a corresponding number of upside calls that expire in, say, three months. This will buy you just enough time to see how the stock—and the market—performs.</p><p><blockquote>如果这引起了共鸣，请检查您的股票。出售足够的股票以实现初始投资50%到100%的利润。例如，如果您出售500股以锁定收益，请购买相应数量的三个月后到期的上涨评级。这将为您赢得足够的时间来了解股票和市场的表现。</blockquote></p><p> The goal is not to be scared of wolves, and to make sure that your appetite for volatility is aligned with your investment timeline.</p><p><blockquote>目标是不要害怕狼，并确保您对波动性的偏好与您的投资时间表一致。</blockquote></p><p> <i>Steven M. Sears is the president and chief operating officer of Options Solutions, a specialized asset-management firm. Neither he nor the firm has a position in the options or underlying securities mentioned in this column.</i></p><p><blockquote><i>Steven M.Sears是专业资产管理公司Options Solutions的总裁兼首席运营官。他和公司都没有在本专栏提到的期权或基础证券中持有头寸。</i></blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How to Hedge Your Stock Portfolio Before Interest Rates Start Rising<blockquote>如何在利率开始上升之前对冲您的股票投资组合</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\">\nHow to Hedge Your Stock Portfolio Before Interest Rates Start Rising<blockquote>如何在利率开始上升之前对冲您的股票投资组合</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-08-19 16:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>If fairy tales were made into parables about investing, the boy who cried wolf would run a tail-risk fund.</p><p><blockquote>如果童话故事被改编成关于投资的寓言，喊狼来了的男孩将经营一只尾部风险基金。</blockquote></p><p> To protect his stocks, the vigilant boy would perpetually buybearish options contractsin anticipation that stock prices would fall. He would now be very busy, as many ominous events are bounding across the world’s stage.</p><p><blockquote>为了保护自己的股票，这个警惕的男孩会不断买入看跌期权合约，因为他预计股价会下跌。他现在会非常忙，因为许多不祥的事件正在世界舞台上跳跃。</blockquote></p><p> Thefall of Afghanistanis a potentially destabilizing market event, especially ahead of the 20th anniversary of the Sept. 11 terrorist attack on the U.S.</p><p><blockquote>阿富汗的陷落是一个潜在的破坏市场稳定的事件，尤其是在9月11日美国恐怖袭击20周年之前。</blockquote></p><p> The resurgence of Covid-19, weakening retail sales, China saber-rattling toward Taiwan, China mocking America’s sloppy Afghanistan withdrawal, andsigns of sticky inflationare all reasons for extra vigilance.</p><p><blockquote>Covid-19的死灰复燃、零售销售疲软、中国对台湾的武力威胁、中国嘲笑美国草率的阿富汗撤军以及粘性通胀的迹象都值得格外警惕。</blockquote></p><p> But the major event that would most alarm our hero would be the Federal Reserve’smeeting in Jackson Hole, Wyo., at the end of the month. Jerome Powell, the Fed’s chairman, is expected to speak. He is the big, bad wolf of this reimagined story.</p><p><blockquote>但最让我们的英雄震惊的重大事件将是本月底在怀俄明州杰克逊霍尔举行的美联储会议。美联储主席鲍威尔预计将发表讲话。他是这个重新想象的故事中的大灰狼。</blockquote></p><p> Powell’s speech might offer concrete clues about potential changes to monetary policy—which could pummel stocks.</p><p><blockquote>鲍威尔的讲话可能会为货币政策的潜在变化提供具体线索，这可能会打击股市。</blockquote></p><p> When interest rates are low, as they are now, investors can move far out on the so-called risk curve. It’s cheap to borrow money and thus relatively easy to make money doing something as simple asbuying dividend-paying stocksand as complex as quantitative trading. With rates low enough, even Bitcoin and emerging market debt can be attractive.</p><p><blockquote>当利率较低时，就像现在一样，投资者可以在所谓的风险曲线上走得更远。借钱很便宜，因此做一些简单的事情（如购买派息股票）和复杂的事情（如量化交易）赚钱相对容易。由于利率足够低，即使是比特币和新兴市场的债务也可能具有吸引力。</blockquote></p><p> Yet this time, even if the boy who cried wolf is wrong, investors need to be aware that many others will be listening to himahead of expected changes to interest rates.</p><p><blockquote>然而，这一次，即使喊狼来了的男孩是错的，投资者也需要意识到，许多其他人将听取他关于利率预期变化的意见。</blockquote></p><p> Stock prices are generally dancing around record highs—a phrase used in this column year after year—as historically low interest rates remain the central defining fact of the market.</p><p><blockquote>由于历史低利率仍然是市场的核心定义事实，股价通常在历史高点附近波动——这是本专栏年复一年使用的一个短语。</blockquote></p><p> But it seems that the more investors talk about corrections, or why corrections won’t happen, the bearish narrative prevails, at least for a bit.</p><p><blockquote>但似乎投资者越多地谈论调整，或者为什么调整不会发生，看跌的说法就占了上风，至少在一段时间内是这样。</blockquote></p><p> Expectations that something will soon happen to easy-money rates are leading to a burst of hedging activity.</p><p><blockquote>对宽松货币利率很快就会发生变化的预期正在导致对冲活动的爆发。</blockquote></p><p> One major investor has created a bearish position in theSPDR S&amp;P 500exchange-traded fund (ticker: SPY) that would prove profitable if the stock market fell about 4% by Sept. 3. The investor sold 25,000 September $427 put options and bought 25,000 $440 puts, all expiring on Sept. 3, to cover the Fed’s Jackson Hole symposium from Aug. 26 to Aug. 28.</p><p><blockquote>一位主要投资者在SPDR S&amp;P 500交易所交易基金（股票代码：SPDR标普500指数ETF）中建立了看跌头寸，如果股市到9月3日下跌约4%，该基金将会盈利。该投资者卖出了25,000份9月427美元看跌期权，并买入了25,000份440美元看跌期权，全部将于9月3日到期，以覆盖8月26日至8月28日举行的美联储杰克逊霍尔研讨会。</blockquote></p><p> This column has rarely offered a suggestion to hedge portfolios. It has almost always seemed better to us to sell puts to anxious investors and use the proceeds to buy upside call options to profit from stock advances.</p><p><blockquote>本专栏很少提供对冲投资组合的建议。对我们来说，向焦虑的投资者出售看跌期权并用所得收益购买上行看涨期权期权以从股票上涨中获利似乎总是更好。</blockquote></p><p> Similarly, we have been hesitant to recommend stock-replacement strategies. Because low interest rates always seemed the key ingredient in the bull market, there was seldom a strategic reason for selling stocks and buying calls.</p><p><blockquote>同样，我们也一直犹豫是否推荐股票替换策略。因为低利率似乎总是牛市的关键因素，所以很少有卖出股票和买入评级的战略理由。</blockquote></p><p> But now, using upside calls as stock surrogates does indeed seem attractive for anyone who thinks that rates could rise. The strategy is worth pondering for investors with substantial stock profits.</p><p><blockquote>但现在，对于任何认为利率可能上升的人来说，使用上行评级作为股票替代品似乎确实很有吸引力。对于股票利润丰厚的投资者来说，该策略值得深思。</blockquote></p><p> If this resonates, review your stocks. Sell enough shares to realize a profit of, say, 50% to 100% on your initial investment. If you sold 500 shares to lock in gains, for example, buy a corresponding number of upside calls that expire in, say, three months. This will buy you just enough time to see how the stock—and the market—performs.</p><p><blockquote>如果这引起了共鸣，请检查您的股票。出售足够的股票以实现初始投资50%到100%的利润。例如，如果您出售500股以锁定收益，请购买相应数量的三个月后到期的上涨评级。这将为您赢得足够的时间来了解股票和市场的表现。</blockquote></p><p> The goal is not to be scared of wolves, and to make sure that your appetite for volatility is aligned with your investment timeline.</p><p><blockquote>目标是不要害怕狼，并确保您对波动性的偏好与您的投资时间表一致。</blockquote></p><p> <i>Steven M. Sears is the president and chief operating officer of Options Solutions, a specialized asset-management firm. Neither he nor the firm has a position in the options or underlying securities mentioned in this column.</i></p><p><blockquote><i>Steven M.Sears是专业资产管理公司Options Solutions的总裁兼首席运营官。他和公司都没有在本专栏提到的期权或基础证券中持有头寸。</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/articles/how-to-hedge-your-stock-portfolio-before-interest-rates-start-rising-51629361806?mod=mw_latestnews\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/articles/how-to-hedge-your-stock-portfolio-before-interest-rates-start-rising-51629361806?mod=mw_latestnews","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118120303","content_text":"If fairy tales were made into parables about investing, the boy who cried wolf would run a tail-risk fund.\nTo protect his stocks, the vigilant boy would perpetually buybearish options contractsin anticipation that stock prices would fall. He would now be very busy, as many ominous events are bounding across the world’s stage.\nThefall of Afghanistanis a potentially destabilizing market event, especially ahead of the 20th anniversary of the Sept. 11 terrorist attack on the U.S.\nThe resurgence of Covid-19, weakening retail sales, China saber-rattling toward Taiwan, China mocking America’s sloppy Afghanistan withdrawal, andsigns of sticky inflationare all reasons for extra vigilance.\nBut the major event that would most alarm our hero would be the Federal Reserve’smeeting in Jackson Hole, Wyo., at the end of the month. Jerome Powell, the Fed’s chairman, is expected to speak. He is the big, bad wolf of this reimagined story.\nPowell’s speech might offer concrete clues about potential changes to monetary policy—which could pummel stocks.\nWhen interest rates are low, as they are now, investors can move far out on the so-called risk curve. It’s cheap to borrow money and thus relatively easy to make money doing something as simple asbuying dividend-paying stocksand as complex as quantitative trading. With rates low enough, even Bitcoin and emerging market debt can be attractive.\nYet this time, even if the boy who cried wolf is wrong, investors need to be aware that many others will be listening to himahead of expected changes to interest rates.\nStock prices are generally dancing around record highs—a phrase used in this column year after year—as historically low interest rates remain the central defining fact of the market.\nBut it seems that the more investors talk about corrections, or why corrections won’t happen, the bearish narrative prevails, at least for a bit.\nExpectations that something will soon happen to easy-money rates are leading to a burst of hedging activity.\nOne major investor has created a bearish position in theSPDR S&P 500exchange-traded fund (ticker: SPY) that would prove profitable if the stock market fell about 4% by Sept. 3. The investor sold 25,000 September $427 put options and bought 25,000 $440 puts, all expiring on Sept. 3, to cover the Fed’s Jackson Hole symposium from Aug. 26 to Aug. 28.\nThis column has rarely offered a suggestion to hedge portfolios. It has almost always seemed better to us to sell puts to anxious investors and use the proceeds to buy upside call options to profit from stock advances.\nSimilarly, we have been hesitant to recommend stock-replacement strategies. Because low interest rates always seemed the key ingredient in the bull market, there was seldom a strategic reason for selling stocks and buying calls.\nBut now, using upside calls as stock surrogates does indeed seem attractive for anyone who thinks that rates could rise. The strategy is worth pondering for investors with substantial stock profits.\nIf this resonates, review your stocks. Sell enough shares to realize a profit of, say, 50% to 100% on your initial investment. If you sold 500 shares to lock in gains, for example, buy a corresponding number of upside calls that expire in, say, three months. This will buy you just enough time to see how the stock—and the market—performs.\nThe goal is not to be scared of wolves, and to make sure that your appetite for volatility is aligned with your investment timeline.\nSteven M. Sears is the president and chief operating officer of Options Solutions, a specialized asset-management firm. 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Buy and like this post","listText":"It isn’t! Buy and like this post","text":"It isn’t! Buy and like this post","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/347762697","repostId":"1181372898","repostType":4,"isVote":1,"tweetType":1,"viewCount":443,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324002992,"gmtCreate":1615941566016,"gmtModify":1703495257351,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"What a disappointing night","listText":"What a disappointing night","text":"What a disappointing night","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/324002992","repostId":"1110379286","repostType":4,"isVote":1,"tweetType":1,"viewCount":390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":856944355,"gmtCreate":1635146449498,"gmtModify":1635146449874,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/856944355","repostId":"2178302447","repostType":4,"isVote":1,"tweetType":1,"viewCount":2183,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":145039036,"gmtCreate":1626182142325,"gmtModify":1633929341304,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Give me a like","listText":"Give me a like","text":"Give me a like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/145039036","repostId":"2151566352","repostType":4,"isVote":1,"tweetType":1,"viewCount":699,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119353206,"gmtCreate":1622522095305,"gmtModify":1634100846344,"author":{"id":"3562791266647459","authorId":"3562791266647459","name":"Atsc89","avatar":"https://static.tigerbbs.com/9ec47b1c36e59ba1ef8caac8ab619319","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562791266647459","idStr":"3562791266647459"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/119353206","repostId":"1105273964","repostType":4,"repost":{"id":"1105273964","kind":"news","pubTimestamp":1622511256,"share":"https://www.laohu8.com/m/news/1105273964?lang=zh_CN&edition=full","pubTime":"2021-06-01 09:34","market":"us","language":"en","title":"Here Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的11家IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105273964","media":"Barron's","summary":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.That left us with 11 names. First up:CureVac, which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its ","content":"<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.</p><p><blockquote>首次公开募股市场最近为那些能够在公司上市前获得股票的投资者带来了一些巨大的首日收益。</blockquote></p><p>But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.<i>Barron’s</i>looked at businesses that have gone public in the past 12 months to find some strong performers.</p><p><blockquote>但并不是每个人都能得到这些类型的机会。大多数散户投资者必须等到公司开始公开交易才能购买股票。<i>巴伦周刊</i>研究了过去12个月内上市的企业，发现了一些表现强劲的企业。</blockquote></p><p>First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..</p><p><blockquote>首先，我们搜索通过传统首次公开募股上市的公司：这意味着我们过滤掉了与特殊目的收购公司（SPAC）合并的企业。然后，我们搜索了在纽约证券交易所或纳斯达克上市的公司。我们还关注市值至少为10亿美元的实体。我们将搜索范围缩小到股票发行价总回报最高的公司。</blockquote></p><p>That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .</p><p><blockquote>我们只剩下11个名字了。首先是CureVac（股票代码：CVAC），这是银幕上表现最好的IPO，总回报率为596.75%。CureVac专注于信使RNA或mRNA技术，该技术是几个领先的新冠肺炎疫苗项目的基础。这家德国生物技术公司于8月份以每股16美元的价格上市，首日飙升249%，收于55.90美元。一月份，CureVac与Bayerto达成协议，加速其Covid-19候选疫苗的开发和供应。该公司基于mRNA的新冠疫苗目前正在进行临床试验，预计今年夏天将获得2b/3期数据。自首次公开募股以来，该股几乎翻了一番，周五收于111.48美元。</blockquote></p><p>Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.</p><p><blockquote>强劲的表现不一定取决于第一天交易的成功。上榜的公司中有四家交易失败，这意味着它们的股价在交易首日就跌破了IPO价格。</blockquote></p><p>Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.</p><p><blockquote>典型的例子：以星综合航运(ZIM)。这家轻资产航运公司于1月份上市，发行价为15美元，但当天收盘价为11.50美元。然而，到5月19日，以星公布第一季度盈利5.896亿美元（即每股5.35美元）后，其股价已上涨295%。该公司还宣布派发每股2美元的特别现金股息。FactSet的数据显示，以星是过去12个月中表现第二好的IPO，总回报率为209.33%。周五收于46.40美元。</blockquote></p><p>Another example isAcademy Sports &amp; Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading<b>.</b>Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.</p><p><blockquote>另一个例子是Academy Sports&amp;Outdoors(ASO)：该公司于10月份上市，发行价为13美元，公开交易首日收盘价为12.99美元<b>.</b>Academy上市时实现盈利，这在IPO市场上是罕见的。今年3月，该公司报告称，截至1月30日的第四财季净利润飙升416%，达到9150万美元，即每股97美分。自IPO以来，其股价已上涨近两倍，周五交易价格为36.53美元。FactSet表示，Academy Sports排名第三，发行价总回报率为181%。</blockquote></p><p>Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.<img src=\"https://static.tigerbbs.com/9dedc209ede147958c015d3a586bb587\" tg-width=\"630\" tg-height=\"606\">Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.</p><p><blockquote>强劲上涨者这些公司均于去年上市，与IPO价格相比，总回报率较高。这一类别的还有Corsair Gaming(CRSR)，一家为游戏玩家生产高性能装备的加州公司，以及总部位于迪拜的Yalla Group(YALA)，该公司生产一款在中东和北非使用的名为Yalla的语音聊天应用程序。在9月份IPO表现不佳后，这两只股票均强劲反弹。</blockquote></p><p>Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.</p><p><blockquote>一些上榜公司在首次亮相时股价飙升，但此后股价出现回落。尽管如此，这些公司仍在产生收益。</blockquote></p><p>ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce&nbsp;went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.</p><p><blockquote>考虑一下BigCommerce（BIGC），它提供了一个云电子商务平台，被SkullCandy、Savannah Bee Co和Cleveland Cavaliers等客户使用。BigCommerce于8月上市，发行价为24美元，当天股价飙升201%，收于72.27美元。自IPO以来，由于更广泛的科技股抛售，该股股价已下跌近25%。</blockquote></p><p>The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.</p><p><blockquote>然而，该公司报告了一些积极的进展，例如2月份的一项交易，该交易将使BigCommerce客户能够直接在沃尔玛市场上销售。它还公布了好于预期的第四季度业绩。根据FactSet的数据，BigCommerce的总回报率接近127%。</blockquote></p><p>Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.</p><p><blockquote>其他公司的股价自上市以来也出现了上涨。Dream Finders Homes(DFH)在高增长市场设计、建造和销售房屋，在1月份以每股13美元的价格首次上市时已经实现盈利。首日股价飙升61%，至20.95美元。3月份房价以2005年以来最快的速度增长，这对房地产股有所帮助。Dream Finders股价自IPO以来已上涨近52%，周五交易价格为31.77美元。Dream Finders的总发行价回报率为144.38%。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的11家IPO</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\">\nHere Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的11家IPO</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-06-01 09:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.</p><p><blockquote>首次公开募股市场最近为那些能够在公司上市前获得股票的投资者带来了一些巨大的首日收益。</blockquote></p><p>But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.<i>Barron’s</i>looked at businesses that have gone public in the past 12 months to find some strong performers.</p><p><blockquote>但并不是每个人都能得到这些类型的机会。大多数散户投资者必须等到公司开始公开交易才能购买股票。<i>巴伦周刊</i>研究了过去12个月内上市的企业，发现了一些表现强劲的企业。</blockquote></p><p>First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..</p><p><blockquote>首先，我们搜索通过传统首次公开募股上市的公司：这意味着我们过滤掉了与特殊目的收购公司（SPAC）合并的企业。然后，我们搜索了在纽约证券交易所或纳斯达克上市的公司。我们还关注市值至少为10亿美元的实体。我们将搜索范围缩小到股票发行价总回报最高的公司。</blockquote></p><p>That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .</p><p><blockquote>我们只剩下11个名字了。首先是CureVac（股票代码：CVAC），这是银幕上表现最好的IPO，总回报率为596.75%。CureVac专注于信使RNA或mRNA技术，该技术是几个领先的新冠肺炎疫苗项目的基础。这家德国生物技术公司于8月份以每股16美元的价格上市，首日飙升249%，收于55.90美元。一月份，CureVac与Bayerto达成协议，加速其Covid-19候选疫苗的开发和供应。该公司基于mRNA的新冠疫苗目前正在进行临床试验，预计今年夏天将获得2b/3期数据。自首次公开募股以来，该股几乎翻了一番，周五收于111.48美元。</blockquote></p><p>Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.</p><p><blockquote>强劲的表现不一定取决于第一天交易的成功。上榜的公司中有四家交易失败，这意味着它们的股价在交易首日就跌破了IPO价格。</blockquote></p><p>Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.</p><p><blockquote>典型的例子：以星综合航运(ZIM)。这家轻资产航运公司于1月份上市，发行价为15美元，但当天收盘价为11.50美元。然而，到5月19日，以星公布第一季度盈利5.896亿美元（即每股5.35美元）后，其股价已上涨295%。该公司还宣布派发每股2美元的特别现金股息。FactSet的数据显示，以星是过去12个月中表现第二好的IPO，总回报率为209.33%。周五收于46.40美元。</blockquote></p><p>Another example isAcademy Sports &amp; Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading<b>.</b>Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.</p><p><blockquote>另一个例子是Academy Sports&amp;Outdoors(ASO)：该公司于10月份上市，发行价为13美元，公开交易首日收盘价为12.99美元<b>.</b>Academy上市时实现盈利，这在IPO市场上是罕见的。今年3月，该公司报告称，截至1月30日的第四财季净利润飙升416%，达到9150万美元，即每股97美分。自IPO以来，其股价已上涨近两倍，周五交易价格为36.53美元。FactSet表示，Academy Sports排名第三，发行价总回报率为181%。</blockquote></p><p>Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.<img src=\"https://static.tigerbbs.com/9dedc209ede147958c015d3a586bb587\" tg-width=\"630\" tg-height=\"606\">Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.</p><p><blockquote>强劲上涨者这些公司均于去年上市，与IPO价格相比，总回报率较高。这一类别的还有Corsair Gaming(CRSR)，一家为游戏玩家生产高性能装备的加州公司，以及总部位于迪拜的Yalla Group(YALA)，该公司生产一款在中东和北非使用的名为Yalla的语音聊天应用程序。在9月份IPO表现不佳后，这两只股票均强劲反弹。</blockquote></p><p>Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.</p><p><blockquote>一些上榜公司在首次亮相时股价飙升，但此后股价出现回落。尽管如此，这些公司仍在产生收益。</blockquote></p><p>ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce&nbsp;went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.</p><p><blockquote>考虑一下BigCommerce（BIGC），它提供了一个云电子商务平台，被SkullCandy、Savannah Bee Co和Cleveland Cavaliers等客户使用。BigCommerce于8月上市，发行价为24美元，当天股价飙升201%，收于72.27美元。自IPO以来，由于更广泛的科技股抛售，该股股价已下跌近25%。</blockquote></p><p>The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.</p><p><blockquote>然而，该公司报告了一些积极的进展，例如2月份的一项交易，该交易将使BigCommerce客户能够直接在沃尔玛市场上销售。它还公布了好于预期的第四季度业绩。根据FactSet的数据，BigCommerce的总回报率接近127%。</blockquote></p><p>Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.</p><p><blockquote>其他公司的股价自上市以来也出现了上涨。Dream Finders Homes(DFH)在高增长市场设计、建造和销售房屋，在1月份以每股13美元的价格首次上市时已经实现盈利。首日股价飙升61%，至20.95美元。3月份房价以2005年以来最快的速度增长，这对房地产股有所帮助。Dream Finders股价自IPO以来已上涨近52%，周五交易价格为31.77美元。Dream Finders的总发行价回报率为144.38%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105273964","content_text":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.Barron’slooked at businesses that have gone public in the past 12 months to find some strong performers.First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.Another example isAcademy Sports & Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading.Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.","news_type":1,"symbols_score_info":{"BOTB.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":321,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}