Vyy的个人主页 - 老虎社区

Vyy

Vyy

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2021-06-17

$Zoom(ZM)$Wil we see $400 soon?!!!🤩

2021-09-18

Go nvda! Strong stock

Nvidia Stock Got Two Price Target Hikes. The Market Shrugged.<blockquote>英伟达股票两次上调目标价。市场耸耸肩。</blockquote>

2021-08-09

Yes

抱歉，原内容已删除

2021-06-06

Looking forward. Like reply pls

U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>

2021-06-04

Hopeful? Reply pls

Where Will Apple Stock Be In 10 Years? What To Consider<blockquote>10年后苹果股票会在哪里？需要考虑什么</blockquote>

2021-07-28

Buy of cos~

抱歉，原内容已删除

2021-06-23

We need it up for Mara riot!

抱歉，原内容已删除

2021-05-19

Market up pls

3 Things to Watch for in the Fed Minutes Today<blockquote>今天美联储会议纪要中值得关注的 3 件事</blockquote>

2021-09-05

Comment

Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个量化系统战胜市场，该系统非常看好创纪录高点的股票</blockquote>

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href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Don’t lose momentum!!! 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It remains to be seen whether the bill will pass the Senate, but the House action gives it a better shot.</p><p><blockquote>所谓的《安全银行法》是不断发展的银行业所寻求的争议最少的改革，它作为更广泛立法的一部分被接受，周二晚间，该法案被纳入《国防授权法》以口头投票的方式获得批准。该法案是否会在参议院获得通过还有待观察，但众议院的行动给了它更好的机会。</blockquote></p><p> The act would be a boon for marijuana companies, which have so far been stymied by the need to deal in cash because of federal restrictions. That has meant they have extra security costs and logistical problems, even as marijuana increasingly becomes legal. Some three dozen states now allow medical or recreational use, according to New Frontier Data, a cannabis research firm.</p><p><blockquote>该法案对大麻公司来说将是一个福音，由于联邦限制，大麻公司迄今为止一直受到现金交易需求的阻碍。这意味着他们有额外的安全成本和后勤问题，即使大麻越来越合法。根据大麻研究公司New Frontier Data的数据，现在大约有36个州允许医疗或娱乐使用。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94634a1c93ee67a96440d95391009461\" tg-width=\"748\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Representative Ed Perlmutter, a Colorado Democrat, who had re-introduced the bill,has said&nbsp;that allowing cannabis businesses to access the banking system would bring more money into the economy and offer the opportunity to create good-paying jobs. The American cannabis industry had $20.3 billion in legal sales in 2020, according New Frontier Data.</p><p><blockquote>重新提出该法案的科罗拉多州民主党众议员埃德·珀尔穆特表示，允许大麻企业进入银行系统将为经济带来更多资金，并提供创造高薪就业机会的机会。根据New Frontier的数据，2020年美国大麻行业的合法销售额为203亿美元。</blockquote></p><p> The initiative, which has been passed by the House before with bipartisan support but never advanced to the Senate, is still a far cry from the wish list of legal reforms sought by the industry, which include all-out legalization and relief from tax burdens.</p><p><blockquote>该倡议此前已在两党支持下在众议院获得通过，但从未提交参议院，与该行业寻求的法律改革愿望清单相去甚远，其中包括全面合法化和减轻税收负担。</blockquote></p><p> The U.S. Cannabis Council, a trade group, called the current rules that require marijuana firms to be all-cash a security hazard.</p><p><blockquote>贸易组织美国大麻委员会称，目前要求大麻公司全现金的规定是一种安全隐患。</blockquote></p><p> “Over $17 billion in legal cannabis was sold in the United States last year, overwhelmingly through cash transactions. Forcing legitimate, well-regulated cannabis businesses to conduct most of their business in cash is anachronistic and a clear threat to public safety,” the council’s chief executive officer, Steven Hawkins, said in a statement before the bill passed.</p><p><blockquote>“去年，美国共售出超过 170 亿美元的合法大麻，其中绝大多数是通过现金交易。强迫合法、监管良好的大麻企业以现金交易进行大部分业务是不合时宜的，显然是对公共安全的威胁，”该委员会首席执行官史蒂文-霍金斯（Steven Hawkins）在法案通过前的一份声明中说。</blockquote></p><p> “Every step forward is a positive one for the cannabis industry,”BTIGanalyst Camilo Lyon said in a research note Wednesday. He said it isn’t clear whether Senator Chuck Schumer will include the act in the Senate NDAA bill.</p><p><blockquote>“BTIGA分析师卡米洛-里昂（Camilo Lyon）在周三的一份研究报告中说：”每向前迈出一步，对大麻产业来说都是积极的一步。他说，目前还不清楚参议员查克-舒默（Chuck Schumer）是否会将该法案纳入参议院 NDAA 法案。</blockquote></p><p> “Discussions with our D.C. contacts suggest it has an easier pathway of getting through the Senate, largely because no senator wants to be viewed as holding up the massive 1,700 page must-pass NDAA simply because of SAFE banking,” Lyon wrote.</p><p><blockquote>“里昂写道：”与我们在华盛顿的联系人进行的讨论表明，该法案在参议院获得通过的途径更容易，这主要是因为没有参议员愿意仅仅因为银行安全而被视为搁置长达 1700 页的必须通过的 NDAA。</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>Cannabis stocks jumped in Monday morning trading<blockquote>周一早盘交易中大麻股票上涨</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCannabis stocks jumped in Monday morning trading<blockquote>周一早盘交易中大麻股票上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-27 23:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Cannabis stocks jumped in Monday morning trading&nbsp;as&nbsp;U.S. House approved bill to ease banking for cannabis companies.Canopy Growth,Tilray, Aurora Cannabis, Cronos, Sundial Growers&nbsp;and&nbsp;OrganiGram&nbsp;climbed between 2% and 6%.</p><p><blockquote>由于美国众议院批准了放宽大麻公司银行业务的法案。 Canopy Growth、Tilray、Aurora Cannabis、Cronos、Sundial Growers 和 OrganiGram 的股价上涨了 2% 至 6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b7d7c6db300ed6a9e7a2699a1884e853\" tg-width=\"399\" tg-height=\"417\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The U.S. House of Representatives late last&nbsp;Tuesday night approved a bill that would let banks to do business with cannabis companies without fear of penalty, giving traction to the least-disputed reform sought by the growing industry.</p><p><blockquote>美国众议院上周二深夜批准了一项法案，允许银行与大麻公司开展业务，而不必担心受到处罚，这为不断发展的行业所寻求的争议最少的改革提供了动力。</blockquote></p><p> The so-called SAFE Banking Act, which is the least disputed reform sought by the growing industry, got picked up as part of broader legislation, and its inclusion in the National Defense Authorization Act was approved by voice vote late Tuesday. It remains to be seen whether the bill will pass the Senate, but the House action gives it a better shot.</p><p><blockquote>所谓的《安全银行法》是不断发展的银行业所寻求的争议最少的改革，它作为更广泛立法的一部分被接受，周二晚间，该法案被纳入《国防授权法》以口头投票的方式获得批准。该法案是否会在参议院获得通过还有待观察，但众议院的行动给了它更好的机会。</blockquote></p><p> The act would be a boon for marijuana companies, which have so far been stymied by the need to deal in cash because of federal restrictions. That has meant they have extra security costs and logistical problems, even as marijuana increasingly becomes legal. Some three dozen states now allow medical or recreational use, according to New Frontier Data, a cannabis research firm.</p><p><blockquote>该法案对大麻公司来说将是一个福音，由于联邦限制，大麻公司迄今为止一直受到现金交易需求的阻碍。这意味着他们有额外的安全成本和后勤问题，即使大麻越来越合法。根据大麻研究公司New Frontier Data的数据，现在大约有36个州允许医疗或娱乐使用。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94634a1c93ee67a96440d95391009461\" tg-width=\"748\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Representative Ed Perlmutter, a Colorado Democrat, who had re-introduced the bill,has said&nbsp;that allowing cannabis businesses to access the banking system would bring more money into the economy and offer the opportunity to create good-paying jobs. The American cannabis industry had $20.3 billion in legal sales in 2020, according New Frontier Data.</p><p><blockquote>重新提出该法案的科罗拉多州民主党众议员埃德·珀尔穆特表示，允许大麻企业进入银行系统将为经济带来更多资金，并提供创造高薪就业机会的机会。根据New Frontier的数据，2020年美国大麻行业的合法销售额为203亿美元。</blockquote></p><p> The initiative, which has been passed by the House before with bipartisan support but never advanced to the Senate, is still a far cry from the wish list of legal reforms sought by the industry, which include all-out legalization and relief from tax burdens.</p><p><blockquote>该倡议此前已在两党支持下在众议院获得通过，但从未提交参议院，与该行业寻求的法律改革愿望清单相去甚远，其中包括全面合法化和减轻税收负担。</blockquote></p><p> The U.S. Cannabis Council, a trade group, called the current rules that require marijuana firms to be all-cash a security hazard.</p><p><blockquote>贸易组织美国大麻委员会称，目前要求大麻公司全现金的规定是一种安全隐患。</blockquote></p><p> “Over $17 billion in legal cannabis was sold in the United States last year, overwhelmingly through cash transactions. Forcing legitimate, well-regulated cannabis businesses to conduct most of their business in cash is anachronistic and a clear threat to public safety,” the council’s chief executive officer, Steven Hawkins, said in a statement before the bill passed.</p><p><blockquote>“去年，美国共售出超过 170 亿美元的合法大麻，其中绝大多数是通过现金交易。强迫合法、监管良好的大麻企业以现金交易进行大部分业务是不合时宜的，显然是对公共安全的威胁，”该委员会首席执行官史蒂文-霍金斯（Steven Hawkins）在法案通过前的一份声明中说。</blockquote></p><p> “Every step forward is a positive one for the cannabis industry,”BTIGanalyst Camilo Lyon said in a research note Wednesday. He said it isn’t clear whether Senator Chuck Schumer will include the act in the Senate NDAA bill.</p><p><blockquote>“BTIGA分析师卡米洛-里昂（Camilo Lyon）在周三的一份研究报告中说：”每向前迈出一步，对大麻产业来说都是积极的一步。他说，目前还不清楚参议员查克-舒默（Chuck Schumer）是否会将该法案纳入参议院 NDAA 法案。</blockquote></p><p> “Discussions with our D.C. contacts suggest it has an easier pathway of getting through the Senate, largely because no senator wants to be viewed as holding up the massive 1,700 page must-pass NDAA simply because of SAFE banking,” Lyon wrote.</p><p><blockquote>“里昂写道：”与我们在华盛顿的联系人进行的讨论表明，该法案在参议院获得通过的途径更容易，这主要是因为没有参议员愿意仅仅因为银行安全而被视为搁置长达 1700 页的必须通过的 NDAA。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MJ":"Amplify Alternative Harvest ETF","TLRY":"Tilray Inc.","CGC":"Canopy Growth Corporation","ACB":"奥罗拉大麻公司","SNDL":"SNDL Inc.","OGI":"ORGANIGRAM HOLD","CRON":"Cronos Group Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143307489","content_text":"Cannabis stocks jumped in Monday morning trading as U.S. House approved bill to ease banking for cannabis companies.Canopy Growth,Tilray, Aurora Cannabis, Cronos, Sundial Growers and OrganiGram climbed between 2% and 6%.\n\nThe U.S. House of Representatives late last Tuesday night approved a bill that would let banks to do business with cannabis companies without fear of penalty, giving traction to the least-disputed reform sought by the growing industry.\nThe so-called SAFE Banking Act, which is the least disputed reform sought by the growing industry, got picked up as part of broader legislation, and its inclusion in the National Defense Authorization Act was approved by voice vote late Tuesday. It remains to be seen whether the bill will pass the Senate, but the House action gives it a better shot.\nThe act would be a boon for marijuana companies, which have so far been stymied by the need to deal in cash because of federal restrictions. That has meant they have extra security costs and logistical problems, even as marijuana increasingly becomes legal. Some three dozen states now allow medical or recreational use, according to New Frontier Data, a cannabis research firm.\n\nRepresentative Ed Perlmutter, a Colorado Democrat, who had re-introduced the bill,has said that allowing cannabis businesses to access the banking system would bring more money into the economy and offer the opportunity to create good-paying jobs. The American cannabis industry had $20.3 billion in legal sales in 2020, according New Frontier Data.\nThe initiative, which has been passed by the House before with bipartisan support but never advanced to the Senate, is still a far cry from the wish list of legal reforms sought by the industry, which include all-out legalization and relief from tax burdens.\nThe U.S. Cannabis Council, a trade group, called the current rules that require marijuana firms to be all-cash a security hazard.\n“Over $17 billion in legal cannabis was sold in the United States last year, overwhelmingly through cash transactions. Forcing legitimate, well-regulated cannabis businesses to conduct most of their business in cash is anachronistic and a clear threat to public safety,” the council’s chief executive officer, Steven Hawkins, said in a statement before the bill passed.\n“Every step forward is a positive one for the cannabis industry,”BTIGanalyst Camilo Lyon said in a research note Wednesday. He said it isn’t clear whether Senator Chuck Schumer will include the act in the Senate NDAA bill.\n“Discussions with our D.C. contacts suggest it has an easier pathway of getting through the Senate, largely because no senator wants to be viewed as holding up the massive 1,700 page must-pass NDAA simply because of SAFE banking,” Lyon wrote.","news_type":1,"symbols_score_info":{"SNDL":0.9,"ACB":0.9,"TLRY":0.9,"OGI":0.9,"CRON":0.9,"MJ":0.9,"CGC":0.9}},"isVote":1,"tweetType":1,"viewCount":5800,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868533330,"gmtCreate":1632669367520,"gmtModify":1632798680502,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"NIO&nbsp;","listText":"NIO&nbsp;","text":"NIO","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868533330","repostId":"2170614570","repostType":4,"isVote":1,"tweetType":1,"viewCount":3896,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868539419,"gmtCreate":1632669303031,"gmtModify":1632798680985,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"🚀 let’s go&nbsp;","listText":"🚀 let’s go&nbsp;","text":"🚀 let’s go","images":[{"img":"https://static.tigerbbs.com/f0093af384602b51ecb382c3f55a301a","width":"1125","height":"3542"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868539419","isVote":1,"tweetType":1,"viewCount":3070,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":868076271,"gmtCreate":1632562836793,"gmtModify":1632657156375,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/AFRM\">$Affirm Holdings, Inc.(AFRM)$</a>[Miser]&nbsp;[Happy]&nbsp;[Cool]&nbsp;","listText":"<a href=\"https://laohu8.com/S/AFRM\">$Affirm Holdings, Inc.(AFRM)$</a>[Miser]&nbsp;[Happy]&nbsp;[Cool]&nbsp;","text":"$Affirm Holdings, Inc.(AFRM)$[Miser] [Happy] [Cool]","images":[{"img":"https://static.tigerbbs.com/3c07b0098ef4743043b057ce4ee3ff68","width":"1284","height":"2538"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868076271","isVote":1,"tweetType":1,"viewCount":2968,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":868076831,"gmtCreate":1632562797223,"gmtModify":1632657162377,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Climbing back to 35!&nbsp;","listText":"Climbing back to 35!&nbsp;","text":"Climbing back to 35!","images":[{"img":"https://static.tigerbbs.com/e2efcab04aaca92b78f3480be3f68b88","width":"1125","height":"3463"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868076831","isVote":1,"tweetType":1,"viewCount":3144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":868076355,"gmtCreate":1632562733777,"gmtModify":1632657165380,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Hmms&nbsp;","listText":"Hmms&nbsp;","text":"Hmms","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868076355","repostId":"1149730497","repostType":4,"isVote":1,"tweetType":1,"viewCount":1121,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":863460211,"gmtCreate":1632412629333,"gmtModify":1632729733054,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Finally&nbsp;","listText":"Finally&nbsp;","text":"Finally","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/863460211","repostId":"1185114998","repostType":4,"repost":{"id":"1185114998","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1632403944,"share":"https://www.laohunote.com/m/news/1185114998?lang=zh_CN&edition=full","pubTime":"2021-09-23 21:32","market":"us","language":"en","title":"Stocks open higher, building on post-Fed gains<blockquote>受美联储后上涨的推动，股市开盘走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185114998","media":"Tiger Newspress","summary":"(Sept 23) Stocks open higher, building on post-Fed gains. Dow rises for a second day, adding 200 poi","content":"<p>(Sept 23)&nbsp;Stocks open higher, building on post-Fed gains.&nbsp;Dow rises for a second day, adding 200 points as market continues to reclaim September losses.</p><p><blockquote>（9 月 23 日）受美联储决议后上涨的推动，股市开盘走高。道琼斯指数连续第二天上涨，上涨 200 点，市场继续收复 9 月份的失地。</blockquote></p><p> The company reported better-than-expected quarterly earnings, with an adjusted gross margin of 65%. <a href=\"https://laohu8.com/S/BB\">BlackBerry</a> reported a loss of 6 cents per share, compared with the expected loss of 7 cents per share, according to Refinitiv. Revenue came in at $175 million, topping estimates of $164 million. Shares rose more than 9% in&nbsp;morning&nbsp;trding.</p><p><blockquote>该公司公布的季度收益好于预期，调整后毛利率为 65%。<a href=\"https://laohu8.com/S/BB\">黑莓</a>路孚特表示，每股亏损 6 美分，而预期每股亏损 7 美分。收入为 1.75 亿美元，高于预期的 1.64 亿美元。股价在早盘交易中上涨超过 9%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/db991fbc6c2ba939756396898e5220f5\" tg-width=\"959\" tg-height=\"561\" referrerpolicy=\"no-referrer\">Salesforce rose 4% after the cloud company raised its full-year 2022 revenue guidance.</p><p><blockquote>云公司 Salesforce 上调 2022 年全年收入指引后股价上涨 4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/21871db96fdc1822b80c9e2903a14651\" tg-width=\"960\" tg-height=\"563\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Airline shares, Carnival stocks gain in morning trading.</p><p><blockquote>航空股、嘉年华股早盘上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/70de15909e3e929a872f38ecc5bee841\" tg-width=\"276\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks open higher, building on post-Fed gains<blockquote>受美联储后上涨的推动，股市开盘走高</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\">\nStocks open higher, building on post-Fed gains<blockquote>受美联储后上涨的推动，股市开盘走高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-23 21:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Sept 23)&nbsp;Stocks open higher, building on post-Fed gains.&nbsp;Dow rises for a second day, adding 200 points as market continues to reclaim September losses.</p><p><blockquote>（9 月 23 日）受美联储决议后上涨的推动，股市开盘走高。道琼斯指数连续第二天上涨，上涨 200 点，市场继续收复 9 月份的失地。</blockquote></p><p> The company reported better-than-expected quarterly earnings, with an adjusted gross margin of 65%. <a href=\"https://laohu8.com/S/BB\">BlackBerry</a> reported a loss of 6 cents per share, compared with the expected loss of 7 cents per share, according to Refinitiv. Revenue came in at $175 million, topping estimates of $164 million. Shares rose more than 9% in&nbsp;morning&nbsp;trding.</p><p><blockquote>该公司公布的季度收益好于预期，调整后毛利率为 65%。<a href=\"https://laohu8.com/S/BB\">黑莓</a>路孚特表示，每股亏损 6 美分，而预期每股亏损 7 美分。收入为 1.75 亿美元，高于预期的 1.64 亿美元。股价在早盘交易中上涨超过 9%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/db991fbc6c2ba939756396898e5220f5\" tg-width=\"959\" tg-height=\"561\" referrerpolicy=\"no-referrer\">Salesforce rose 4% after the cloud company raised its full-year 2022 revenue guidance.</p><p><blockquote>云公司 Salesforce 上调 2022 年全年收入指引后股价上涨 4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/21871db96fdc1822b80c9e2903a14651\" tg-width=\"960\" tg-height=\"563\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Airline shares, Carnival stocks gain in morning trading.</p><p><blockquote>航空股、嘉年华股早盘上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/70de15909e3e929a872f38ecc5bee841\" tg-width=\"276\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185114998","content_text":"(Sept 23) Stocks open higher, building on post-Fed gains. Dow rises for a second day, adding 200 points as market continues to reclaim September losses.\nThe company reported better-than-expected quarterly earnings, with an adjusted gross margin of 65%. BlackBerry reported a loss of 6 cents per share, compared with the expected loss of 7 cents per share, according to Refinitiv. Revenue came in at $175 million, topping estimates of $164 million. Shares rose more than 9% in morning trding.\nSalesforce rose 4% after the cloud company raised its full-year 2022 revenue guidance.\n\nAirline shares, Carnival stocks gain in morning trading.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":863460045,"gmtCreate":1632412603687,"gmtModify":1632729739056,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>Good times&nbsp;","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>Good times&nbsp;","text":"$Palantir Technologies Inc.(PLTR)$Good times","images":[{"img":"https://static.tigerbbs.com/39f9facbf1df2ca2b185fb74c2965593","width":"1284","height":"2223"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/863460045","isVote":1,"tweetType":1,"viewCount":808,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":863487088,"gmtCreate":1632412532744,"gmtModify":1632729763071,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Oh yea!!!&nbsp;","listText":"Oh yea!!!&nbsp;","text":"Oh yea!!!","images":[{"img":"https://static.tigerbbs.com/b341679c4ce213c1cbe2054a8db1054a","width":"1125","height":"3292"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/863487088","isVote":1,"tweetType":1,"viewCount":633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":869767429,"gmtCreate":1632322848961,"gmtModify":1632801218796,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>Happy and still waiting..&nbsp;","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>Happy and still waiting..&nbsp;","text":"$Palantir Technologies Inc.(PLTR)$Happy and still waiting..","images":[{"img":"https://static.tigerbbs.com/419cf2a2853c1a9f5ae3071eed6dad80","width":"1284","height":"2223"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/869767429","isVote":1,"tweetType":1,"viewCount":751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":869767390,"gmtCreate":1632322822510,"gmtModify":1632801219289,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Still high potential~&nbsp;","listText":"Still high potential~&nbsp;","text":"Still high potential~","images":[{"img":"https://static.tigerbbs.com/c885a3ef51d85a0680643838e1c5b808","width":"1125","height":"3292"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/869767390","isVote":1,"tweetType":1,"viewCount":884,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":860692095,"gmtCreate":1632168012817,"gmtModify":1632802418727,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/860692095","repostId":"1109188181","repostType":4,"repost":{"id":"1109188181","kind":"news","pubTimestamp":1632123243,"share":"https://www.laohunote.com/m/news/1109188181?lang=zh_CN&edition=full","pubTime":"2021-09-20 15:34","market":"us","language":"en","title":"Savvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这 2 个内部提示来了解何时买卖</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109188181","media":"MarketWatch","summary":"MACD and the MACD-Histogram can give your trading portfolio a boost.\n\nFor many stock traders, four l","content":"<p>  <b>MACD and the MACD-Histogram can give your trading portfolio a boost.</b>  For many stock traders, four letters can spell the difference between a winning and losing position. MACD (moving average convergence divergence) ranks among the key stock market indicators (along with moving averages and RSI) that traders use consistently in their analysis.</p><p><blockquote><b>MACD 和 MACD 直方图可以提升您的交易组合。</b>对于许多股票交易者来说，四个字母可以拼出盈利和亏损头寸之间的区别。MACD（移动平均线收敛背离）是交易者在分析中始终使用的关键股票市场指标（以及移动平均线和RSI）之一。</blockquote></p><p> Let’s discuss a number of creative ways to use this powerful and versatile gauge.</p><p><blockquote>让我们来讨论一下使用这种强大而多功能的仪表的一些创造性方法。</blockquote></p><p> MACD, introduced in the late 1970s, is a trend-following momentum indicator.&nbsp; It helps to determine when a trend, and its associated momentum (i.e., directional speed and duration) has ended or begun, or might reverse direction.</p><p><blockquote>MACD于20世纪70年代末推出，是一种趋势跟踪动量指标。它有助于确定一个趋势及其相关的动量（即方向速度和持续时间）何时结束或开始，或者可能反转方向。</blockquote></p><p> Be aware that MACD is a “lagging” or “backward-looking” indicator, which means its signals are delayed, but don’t let that deter you. When MACD yields a signal, it is often significant, especially if used on a weekly chart (versus the daily chart favored by short-term traders). In fact, the longer the MACD time frame, the more valid the results, which is one reason longer-term traders like myself prefer to use a weekly chart.</p><p><blockquote>请注意，MACD 是一个 “滞后 ”或 “回顾性 ”指标，这意味着它的信号是延迟的，但不要因此而望而却步。当 MACD 产生信号时，它通常很重要，尤其是在周线图上使用时（相对于短线交易者青睐的日线图）。事实上，MACD时间范围越长，结果就越有效，这也是像我这样的长期交易者更喜欢使用周线图的原因之一。</blockquote></p><p> When you view MACD on a chart, you see two lines. The black line is referred to as the “MACD line.” The gray (or red) line is referred to as the “signal line.” Remember: the MACD line is the leader line, while the signal line is the laggard line.</p><p><blockquote>当你在图表上查看MACD时，你会看到两条线。黑线被称为 “MACD 线”。灰色(或红色)线被称为“信号线”。记住：MACD线是领先线，而信号线是落后线。</blockquote></p><p> In addition, a horizontal line runs across the chart called the “zero line” (0 line).&nbsp; The main function of the zero line is to alert you to the primary trend of the underlying price action.</p><p><blockquote>此外，图表上还有一条水平线，称为 “零线”（0 线）。零线的主要功能是提醒您注意基础价格走势的主要趋势。</blockquote></p><p> <b>Four simple trading signals</b></p><p><blockquote><b>四个简单的交易信号</b></blockquote></p><p> At its most basic level, MACD generates four signals:</p><p><blockquote>在最基本的水平上，MACD 会产生四个信号：</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the zero line, it’s bullish.</p><p><blockquote><b>购买：</b>当 MACD 线穿过零线上方时，则为看涨。</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the nine-day signal line, it’s bullish.</p><p><blockquote><b>购买：</b>当 MACD 线穿过九日信号线上方时，则为看涨。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the zero line, it’s bearish.</p><p><blockquote><b>出售：</b>当 MACD 线穿过零线下方时，则为看跌。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the nine-day signal line, it’s bearish.</p><p><blockquote><b>出售：</b>当 MACD 线穿过九日信号线下方时，则为看跌。</blockquote></p><p> Note: When both the MACD line and nine-day signal line move in the same direction (uptrend or downtrend), that is a stronger, more significant signal.</p><p><blockquote>注意：当MACD线和九日信号线都朝同一方向移动（上升趋势或下降趋势）时，这是一个更强、更重要的信号。</blockquote></p><p> Keep in mind that just because MACD generates a buy or sell signal does not mean it is an actionable trade. Like that of any indicator, there are false signals. In addition, it’s essential that you confirm with other indicators before betting real money on a trade. Think of these MACD buy and sell signals as guidelines, not rules.</p><p><blockquote>请记住，仅仅因为MACD产生买入或卖出信号并不意味着它是一个可操作的交易。像任何指标一样，也有错误信号。此外，在用真金白银进行交易之前，还必须与其他指标进行确认。将这些 MACD 买卖信号视为指导方针，而不是规则。</blockquote></p><p> Another limitation of MACD is that it does not work as well at stock market tops or when market volatility is low. Therefore, if you use MACD on the Dow Jones Industrial AverageDJIA,-0.48%or the S&amp;P 500SPX,-0.91%in this current market, the signal is not as useful. That is why you should use MACD on individual stocks until volatility returns to the major market indexes.</p><p><blockquote>MACD 的另一个局限性是，它在股市顶部或市场波动性较低时效果不佳。因此，如果您在当前市场上使用道琼斯工业平均指数 JIA,-0.48% 或标准普尔 500SPX,-0.91% 的 MACD，则该信号就没有那么有用了。这就是为什么你应该在个股上使用MACD，直到波动性回到主要市场指数。</blockquote></p><p> What MACD says about Tesla now</p><p><blockquote>MACD 现在对特斯拉的评价</blockquote></p><p> For example, the weekly stock chart of TeslaTSLA,+0.33%shows its MACD is above the zero line, and the MACD line is above the signal line. Tesla is also above its moving averages.</p><p><blockquote>比如特斯拉TSLA,+0.33%的周线图显示其MACD在零线上方，MACD线在信号线上方。特斯拉也高于其移动平均线。</blockquote></p><p> Based on this information, Tesla stock currently is a short-term “strong” buy.&nbsp;If Tesla’s MACD line drops below its signal line while both lines are above the zero line, the shares would be a “moderate” buy.</p><p><blockquote>根据这一信息，特斯拉股票目前值得短期 “强力 ”买入。如果特斯拉的 MACD 线跌破其信号线，而两条线都高于零线，则该股将是 “适度 ”买入。</blockquote></p><p> A few years ago, I spoke with MACD’s creator, Gerald Appel. He told me that he created MACD in the late 1970s by entering numbers into a punch machine and a spreadsheet. After the personal computer was invented, he was able to automate the process.</p><p><blockquote>几年前，我采访了 MACD 的创始人杰拉尔德-阿佩尔（Gerald Appel）。他告诉我，他在 20 世纪 70 年代末通过将数字输入打孔机和电子表格创建了 MACD。个人电脑发明后，他能够自动化这个过程。</blockquote></p><p> Appel expressed surprise that MACD became so popular. “It works because it’s adaptable to any time frame,” he said. “You can get a good reading of the major trend of the market by using MACD patterns that are based on monthly data. You can also use it on a five-minute chart.”</p><p><blockquote>阿佩尔对 MACD 变得如此受欢迎表示惊讶。“他说：”它之所以有效，是因为它可以适应任何时间框架。“通过使用基于月度数据的 MACD 形态，您可以很好地解读市场的主要趋势。您也可以在五分钟图表上使用它”。</blockquote></p><p> MACD gives the most precise signals at market bottoms. Said Appel: “It’s more accurate at market low points than high points because of the way the market behaves. Market bottoms tend to be very sharp and pronounced, while tops tend to be broad and slow. It’s also possible for the market averages to keep drifting upwards while more and more stocks are falling.”</p><p><blockquote>MACD在市场底部给出最精确的信号。阿佩尔说： “由于市场的行为方式，它在市场低点比在高点更准确。市场底部往往非常尖锐和明显，而顶部往往宽阔而缓慢。在越来越多的股票下跌的情况下，市场平均线也有可能继续向上漂移”。</blockquote></p><p> Appel cautioned that you must confirm MACD signals against other indicators. “No indicator is infallible,” he said. “You might get a market rise and MACD turns down. Perhaps you think this is a sell signal. Well, it might not be.”</p><p><blockquote>Appel 警告说，您必须根据其他指标确认 MACD 信号。“他说：”没有任何指标是万无一失的。“你可能会看到市场上涨，而 MACD 会下跌。也许你认为这是一个卖出信号。但事实并非如此。”</blockquote></p><p> Appel added that he likes to work with different MACD time frames simultaneously. For example, if the short-term MACD turns up along with the intermediate MACD, he’s more confident that the signal is valid.</p><p><blockquote>Appel补充说，他喜欢同时使用不同的MACD时间框架。例如，如果短期 MACD 与中期 MACD 同时出现，他就更有信心该信号是有效的。</blockquote></p><p> <b>The MACD-Histogram</b></p><p><blockquote><b>MACD直方图</b></blockquote></p><p></p><p> One of the most powerful (but often ignored) additions to the MACD is the MACD-Histogram. Developed by Thomas Aspray in 1986, this oscillator is used to gauge momentum. It is a separate program that should be available on your charting package.&nbsp;Traders who use this feature typically view both MACD and the histogram on a stock chart simultaneously.</p><p><blockquote>MACD 最强大（但经常被忽视）的附加功能之一是 MACD 直方图。这种振荡器由托马斯·阿斯普雷于1986年开发，用于测量动量。这是一个单独的程序，应该在你的图表包上提供。使用此功能的交易者通常会同时查看股票图表上的MACD和直方图。</blockquote></p><p> The histogram is a series of bar graphs at the bottom of the stock screen. If the bars move above the zero line, it means the underlying stock (or index) is gaining strength, i.e., momentum. If the bars move below the zero line, the stock or index is losing strength.</p><p><blockquote>直方图是股票屏幕底部的一系列条形图。如果柱状图移动到零线上方，则意味着标的股票（或指数）正在增强，即动量。如果柱状图移动到零线以下，股票或指数就会失去强度。</blockquote></p><p> Many beginning traders don’t realize that momentum always changes before price does. That is what makes MACD and the MACD-Histogram so valuable. Both indicators detect when momentum is weakening. It could also be a signal to become bullish if the histogram bars move above the zero line.</p><p><blockquote>许多新手交易者没有意识到，动量总是先于价格发生变化。这就是 MACD 和 MACD 直方图如此有价值的原因。这两个指标都能检测到势头何时减弱。如果直方图柱状图移动到零线上方，这也可能是一个看涨的信号。</blockquote></p><p> <b>Histogram signals</b></p><p><blockquote><b>直方图信号</b></blockquote></p><p> <ol>  <li>If the MACD-Histogram bar changes to a lighter color, it means that momentum is diminishing. It is not a sell signal; it simply means that enthusiasm for that particular stock is waning.</li> </ol> <ol>  <li>As mentioned earlier, if the histogram bar rises above the zero line, that is a buy signal. An uptrend may be developing. If the histogram bar drops below the zero line, that is a sell signal. A downtrend may be developing.</li> </ol> <b>Red flags</b></p><p><blockquote><ol><li>如果 MACD 直方图柱状图变为浅色，则意味着动量正在减弱。这不是卖出信号；这仅仅意味着对该特定股票的热情正在减弱。</li></ol><ol><li>如前所述，如果直方图柱状图升至零线以上，则为买入信号。上升趋势可能正在形成。如果直方图条跌破零线，则为卖出信号。下降趋势可能正在形成。</li></ol><b>红旗</b></blockquote></p><p> If you see the index prices as well as stock prices move higher, but MACD turns lower, that is a red flag. In addition, if you see the MACD-Histogram changing colors and the bars getting shorter, that confirms momentum is weakening (but confirm this against RSI or stochastics).</p><p><blockquote>如果你看到指数价格和股票价格走高，但MACD走低，这是一个危险信号。此外，如果您看到 MACD 直方图颜色变化且柱状图变短，则证实动量正在减弱（但根据 RSI 或随机指标证实这一点）。</blockquote></p><p> If you have never used MACD or MACD-Histogram, give it a try. Use these measures for any stock that has hit bottom and is on its way higher. They’ll help confirm whether the stock has legs or is a just giving traders a head fake.</p><p><blockquote>如果您从未使用过 MACD 或 MACD 直方图，请尝试一下。对于任何已经触底并正在上涨的股票，请使用这些指标。他们将帮助确认这只股票是有腿的，还是只是给交易者一个假头。</blockquote></p><p> <i>Michael Sincere&nbsp;(michaelsincere.com) is the author of “Understanding Options” and “Understanding Stocks.”</i></p><p><blockquote><i>Michael Sincere (michaelsincere.com) 是《了解期权》和《了解股票》的作者。</i></blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Savvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这 2 个内部提示来了解何时买卖</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\">\nSavvy stock traders use these 2 insider tips to know when to buy and sell<blockquote>精明的股票交易者使用这 2 个内部提示来了解何时买卖</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-20 15:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>MACD and the MACD-Histogram can give your trading portfolio a boost.</b>  For many stock traders, four letters can spell the difference between a winning and losing position. MACD (moving average convergence divergence) ranks among the key stock market indicators (along with moving averages and RSI) that traders use consistently in their analysis.</p><p><blockquote><b>MACD 和 MACD 直方图可以提升您的交易组合。</b>对于许多股票交易者来说，四个字母可以拼出盈利和亏损头寸之间的区别。MACD（移动平均线收敛背离）是交易者在分析中始终使用的关键股票市场指标（以及移动平均线和RSI）之一。</blockquote></p><p> Let’s discuss a number of creative ways to use this powerful and versatile gauge.</p><p><blockquote>让我们来讨论一下使用这种强大而多功能的仪表的一些创造性方法。</blockquote></p><p> MACD, introduced in the late 1970s, is a trend-following momentum indicator.&nbsp; It helps to determine when a trend, and its associated momentum (i.e., directional speed and duration) has ended or begun, or might reverse direction.</p><p><blockquote>MACD于20世纪70年代末推出，是一种趋势跟踪动量指标。它有助于确定一个趋势及其相关的动量（即方向速度和持续时间）何时结束或开始，或者可能反转方向。</blockquote></p><p> Be aware that MACD is a “lagging” or “backward-looking” indicator, which means its signals are delayed, but don’t let that deter you. When MACD yields a signal, it is often significant, especially if used on a weekly chart (versus the daily chart favored by short-term traders). In fact, the longer the MACD time frame, the more valid the results, which is one reason longer-term traders like myself prefer to use a weekly chart.</p><p><blockquote>请注意，MACD 是一个 “滞后 ”或 “回顾性 ”指标，这意味着它的信号是延迟的，但不要因此而望而却步。当 MACD 产生信号时，它通常很重要，尤其是在周线图上使用时（相对于短线交易者青睐的日线图）。事实上，MACD时间范围越长，结果就越有效，这也是像我这样的长期交易者更喜欢使用周线图的原因之一。</blockquote></p><p> When you view MACD on a chart, you see two lines. The black line is referred to as the “MACD line.” The gray (or red) line is referred to as the “signal line.” Remember: the MACD line is the leader line, while the signal line is the laggard line.</p><p><blockquote>当你在图表上查看MACD时，你会看到两条线。黑线被称为 “MACD 线”。灰色(或红色)线被称为“信号线”。记住：MACD线是领先线，而信号线是落后线。</blockquote></p><p> In addition, a horizontal line runs across the chart called the “zero line” (0 line).&nbsp; The main function of the zero line is to alert you to the primary trend of the underlying price action.</p><p><blockquote>此外，图表上还有一条水平线，称为 “零线”（0 线）。零线的主要功能是提醒您注意基础价格走势的主要趋势。</blockquote></p><p> <b>Four simple trading signals</b></p><p><blockquote><b>四个简单的交易信号</b></blockquote></p><p> At its most basic level, MACD generates four signals:</p><p><blockquote>在最基本的水平上，MACD 会产生四个信号：</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the zero line, it’s bullish.</p><p><blockquote><b>购买：</b>当 MACD 线穿过零线上方时，则为看涨。</blockquote></p><p> <b>Buy:</b>When the MACD line crosses above the nine-day signal line, it’s bullish.</p><p><blockquote><b>购买：</b>当 MACD 线穿过九日信号线上方时，则为看涨。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the zero line, it’s bearish.</p><p><blockquote><b>出售：</b>当 MACD 线穿过零线下方时，则为看跌。</blockquote></p><p> <b>Sell:</b>When the MACD line crosses below the nine-day signal line, it’s bearish.</p><p><blockquote><b>出售：</b>当 MACD 线穿过九日信号线下方时，则为看跌。</blockquote></p><p> Note: When both the MACD line and nine-day signal line move in the same direction (uptrend or downtrend), that is a stronger, more significant signal.</p><p><blockquote>注意：当MACD线和九日信号线都朝同一方向移动（上升趋势或下降趋势）时，这是一个更强、更重要的信号。</blockquote></p><p> Keep in mind that just because MACD generates a buy or sell signal does not mean it is an actionable trade. Like that of any indicator, there are false signals. In addition, it’s essential that you confirm with other indicators before betting real money on a trade. Think of these MACD buy and sell signals as guidelines, not rules.</p><p><blockquote>请记住，仅仅因为MACD产生买入或卖出信号并不意味着它是一个可操作的交易。像任何指标一样，也有错误信号。此外，在用真金白银进行交易之前，还必须与其他指标进行确认。将这些 MACD 买卖信号视为指导方针，而不是规则。</blockquote></p><p> Another limitation of MACD is that it does not work as well at stock market tops or when market volatility is low. Therefore, if you use MACD on the Dow Jones Industrial AverageDJIA,-0.48%or the S&amp;P 500SPX,-0.91%in this current market, the signal is not as useful. That is why you should use MACD on individual stocks until volatility returns to the major market indexes.</p><p><blockquote>MACD 的另一个局限性是，它在股市顶部或市场波动性较低时效果不佳。因此，如果您在当前市场上使用道琼斯工业平均指数 JIA,-0.48% 或标准普尔 500SPX,-0.91% 的 MACD，则该信号就没有那么有用了。这就是为什么你应该在个股上使用MACD，直到波动性回到主要市场指数。</blockquote></p><p> What MACD says about Tesla now</p><p><blockquote>MACD 现在对特斯拉的评价</blockquote></p><p> For example, the weekly stock chart of TeslaTSLA,+0.33%shows its MACD is above the zero line, and the MACD line is above the signal line. Tesla is also above its moving averages.</p><p><blockquote>比如特斯拉TSLA,+0.33%的周线图显示其MACD在零线上方，MACD线在信号线上方。特斯拉也高于其移动平均线。</blockquote></p><p> Based on this information, Tesla stock currently is a short-term “strong” buy.&nbsp;If Tesla’s MACD line drops below its signal line while both lines are above the zero line, the shares would be a “moderate” buy.</p><p><blockquote>根据这一信息，特斯拉股票目前值得短期 “强力 ”买入。如果特斯拉的 MACD 线跌破其信号线，而两条线都高于零线，则该股将是 “适度 ”买入。</blockquote></p><p> A few years ago, I spoke with MACD’s creator, Gerald Appel. He told me that he created MACD in the late 1970s by entering numbers into a punch machine and a spreadsheet. After the personal computer was invented, he was able to automate the process.</p><p><blockquote>几年前，我采访了 MACD 的创始人杰拉尔德-阿佩尔（Gerald Appel）。他告诉我，他在 20 世纪 70 年代末通过将数字输入打孔机和电子表格创建了 MACD。个人电脑发明后，他能够自动化这个过程。</blockquote></p><p> Appel expressed surprise that MACD became so popular. “It works because it’s adaptable to any time frame,” he said. “You can get a good reading of the major trend of the market by using MACD patterns that are based on monthly data. You can also use it on a five-minute chart.”</p><p><blockquote>阿佩尔对 MACD 变得如此受欢迎表示惊讶。“他说：”它之所以有效，是因为它可以适应任何时间框架。“通过使用基于月度数据的 MACD 形态，您可以很好地解读市场的主要趋势。您也可以在五分钟图表上使用它”。</blockquote></p><p> MACD gives the most precise signals at market bottoms. Said Appel: “It’s more accurate at market low points than high points because of the way the market behaves. Market bottoms tend to be very sharp and pronounced, while tops tend to be broad and slow. It’s also possible for the market averages to keep drifting upwards while more and more stocks are falling.”</p><p><blockquote>MACD在市场底部给出最精确的信号。阿佩尔说： “由于市场的行为方式，它在市场低点比在高点更准确。市场底部往往非常尖锐和明显，而顶部往往宽阔而缓慢。在越来越多的股票下跌的情况下，市场平均线也有可能继续向上漂移”。</blockquote></p><p> Appel cautioned that you must confirm MACD signals against other indicators. “No indicator is infallible,” he said. “You might get a market rise and MACD turns down. Perhaps you think this is a sell signal. Well, it might not be.”</p><p><blockquote>Appel 警告说，您必须根据其他指标确认 MACD 信号。“他说：”没有任何指标是万无一失的。“你可能会看到市场上涨，而 MACD 会下跌。也许你认为这是一个卖出信号。但事实并非如此。”</blockquote></p><p> Appel added that he likes to work with different MACD time frames simultaneously. For example, if the short-term MACD turns up along with the intermediate MACD, he’s more confident that the signal is valid.</p><p><blockquote>Appel补充说，他喜欢同时使用不同的MACD时间框架。例如，如果短期 MACD 与中期 MACD 同时出现，他就更有信心该信号是有效的。</blockquote></p><p> <b>The MACD-Histogram</b></p><p><blockquote><b>MACD直方图</b></blockquote></p><p></p><p> One of the most powerful (but often ignored) additions to the MACD is the MACD-Histogram. Developed by Thomas Aspray in 1986, this oscillator is used to gauge momentum. It is a separate program that should be available on your charting package.&nbsp;Traders who use this feature typically view both MACD and the histogram on a stock chart simultaneously.</p><p><blockquote>MACD 最强大（但经常被忽视）的附加功能之一是 MACD 直方图。这种振荡器由托马斯·阿斯普雷于1986年开发，用于测量动量。这是一个单独的程序，应该在你的图表包上提供。使用此功能的交易者通常会同时查看股票图表上的MACD和直方图。</blockquote></p><p> The histogram is a series of bar graphs at the bottom of the stock screen. If the bars move above the zero line, it means the underlying stock (or index) is gaining strength, i.e., momentum. If the bars move below the zero line, the stock or index is losing strength.</p><p><blockquote>直方图是股票屏幕底部的一系列条形图。如果柱状图移动到零线上方，则意味着标的股票（或指数）正在增强，即动量。如果柱状图移动到零线以下，股票或指数就会失去强度。</blockquote></p><p> Many beginning traders don’t realize that momentum always changes before price does. That is what makes MACD and the MACD-Histogram so valuable. Both indicators detect when momentum is weakening. It could also be a signal to become bullish if the histogram bars move above the zero line.</p><p><blockquote>许多新手交易者没有意识到，动量总是先于价格发生变化。这就是 MACD 和 MACD 直方图如此有价值的原因。这两个指标都能检测到势头何时减弱。如果直方图柱状图移动到零线上方，这也可能是一个看涨的信号。</blockquote></p><p> <b>Histogram signals</b></p><p><blockquote><b>直方图信号</b></blockquote></p><p> <ol>  <li>If the MACD-Histogram bar changes to a lighter color, it means that momentum is diminishing. It is not a sell signal; it simply means that enthusiasm for that particular stock is waning.</li> </ol> <ol>  <li>As mentioned earlier, if the histogram bar rises above the zero line, that is a buy signal. An uptrend may be developing. If the histogram bar drops below the zero line, that is a sell signal. A downtrend may be developing.</li> </ol> <b>Red flags</b></p><p><blockquote><ol><li>如果 MACD 直方图柱状图变为浅色，则意味着动量正在减弱。这不是卖出信号；这仅仅意味着对该特定股票的热情正在减弱。</li></ol><ol><li>如前所述，如果直方图柱状图升至零线以上，则为买入信号。上升趋势可能正在形成。如果直方图条跌破零线，则为卖出信号。下降趋势可能正在形成。</li></ol><b>红旗</b></blockquote></p><p> If you see the index prices as well as stock prices move higher, but MACD turns lower, that is a red flag. In addition, if you see the MACD-Histogram changing colors and the bars getting shorter, that confirms momentum is weakening (but confirm this against RSI or stochastics).</p><p><blockquote>如果你看到指数价格和股票价格走高，但MACD走低，这是一个危险信号。此外，如果您看到 MACD 直方图颜色变化且柱状图变短，则证实动量正在减弱（但根据 RSI 或随机指标证实这一点）。</blockquote></p><p> If you have never used MACD or MACD-Histogram, give it a try. Use these measures for any stock that has hit bottom and is on its way higher. They’ll help confirm whether the stock has legs or is a just giving traders a head fake.</p><p><blockquote>如果您从未使用过 MACD 或 MACD 直方图，请尝试一下。对于任何已经触底并正在上涨的股票，请使用这些指标。他们将帮助确认这只股票是有腿的，还是只是给交易者一个假头。</blockquote></p><p> <i>Michael Sincere&nbsp;(michaelsincere.com) is the author of “Understanding Options” and “Understanding Stocks.”</i></p><p><blockquote><i>Michael Sincere (michaelsincere.com) 是《了解期权》和《了解股票》的作者。</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/savvy-stock-traders-use-these-2-insider-tips-to-know-when-to-buy-and-sell-11631314697\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/savvy-stock-traders-use-these-2-insider-tips-to-know-when-to-buy-and-sell-11631314697","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109188181","content_text":"MACD and the MACD-Histogram can give your trading portfolio a boost.\n\nFor many stock traders, four letters can spell the difference between a winning and losing position. MACD (moving average convergence divergence) ranks among the key stock market indicators (along with moving averages and RSI) that traders use consistently in their analysis.\nLet’s discuss a number of creative ways to use this powerful and versatile gauge.\nMACD, introduced in the late 1970s, is a trend-following momentum indicator.  It helps to determine when a trend, and its associated momentum (i.e., directional speed and duration) has ended or begun, or might reverse direction.\nBe aware that MACD is a “lagging” or “backward-looking” indicator, which means its signals are delayed, but don’t let that deter you. When MACD yields a signal, it is often significant, especially if used on a weekly chart (versus the daily chart favored by short-term traders). In fact, the longer the MACD time frame, the more valid the results, which is one reason longer-term traders like myself prefer to use a weekly chart.\nWhen you view MACD on a chart, you see two lines. The black line is referred to as the “MACD line.” The gray (or red) line is referred to as the “signal line.” Remember: the MACD line is the leader line, while the signal line is the laggard line.\nIn addition, a horizontal line runs across the chart called the “zero line” (0 line).  The main function of the zero line is to alert you to the primary trend of the underlying price action.\nFour simple trading signals\nAt its most basic level, MACD generates four signals:\nBuy:When the MACD line crosses above the zero line, it’s bullish.\nBuy:When the MACD line crosses above the nine-day signal line, it’s bullish.\nSell:When the MACD line crosses below the zero line, it’s bearish.\nSell:When the MACD line crosses below the nine-day signal line, it’s bearish.\nNote: When both the MACD line and nine-day signal line move in the same direction (uptrend or downtrend), that is a stronger, more significant signal.\nKeep in mind that just because MACD generates a buy or sell signal does not mean it is an actionable trade. Like that of any indicator, there are false signals. In addition, it’s essential that you confirm with other indicators before betting real money on a trade. Think of these MACD buy and sell signals as guidelines, not rules.\nAnother limitation of MACD is that it does not work as well at stock market tops or when market volatility is low. Therefore, if you use MACD on the Dow Jones Industrial AverageDJIA,-0.48%or the S&P 500SPX,-0.91%in this current market, the signal is not as useful. That is why you should use MACD on individual stocks until volatility returns to the major market indexes.\nWhat MACD says about Tesla now\nFor example, the weekly stock chart of TeslaTSLA,+0.33%shows its MACD is above the zero line, and the MACD line is above the signal line. Tesla is also above its moving averages.\nBased on this information, Tesla stock currently is a short-term “strong” buy. If Tesla’s MACD line drops below its signal line while both lines are above the zero line, the shares would be a “moderate” buy.\nA few years ago, I spoke with MACD’s creator, Gerald Appel. He told me that he created MACD in the late 1970s by entering numbers into a punch machine and a spreadsheet. After the personal computer was invented, he was able to automate the process.\nAppel expressed surprise that MACD became so popular. “It works because it’s adaptable to any time frame,” he said. “You can get a good reading of the major trend of the market by using MACD patterns that are based on monthly data. You can also use it on a five-minute chart.”\nMACD gives the most precise signals at market bottoms. Said Appel: “It’s more accurate at market low points than high points because of the way the market behaves. Market bottoms tend to be very sharp and pronounced, while tops tend to be broad and slow. It’s also possible for the market averages to keep drifting upwards while more and more stocks are falling.”\nAppel cautioned that you must confirm MACD signals against other indicators. “No indicator is infallible,” he said. “You might get a market rise and MACD turns down. Perhaps you think this is a sell signal. Well, it might not be.”\nAppel added that he likes to work with different MACD time frames simultaneously. For example, if the short-term MACD turns up along with the intermediate MACD, he’s more confident that the signal is valid.\nThe MACD-Histogram\nOne of the most powerful (but often ignored) additions to the MACD is the MACD-Histogram. Developed by Thomas Aspray in 1986, this oscillator is used to gauge momentum. It is a separate program that should be available on your charting package. Traders who use this feature typically view both MACD and the histogram on a stock chart simultaneously.\nThe histogram is a series of bar graphs at the bottom of the stock screen. If the bars move above the zero line, it means the underlying stock (or index) is gaining strength, i.e., momentum. If the bars move below the zero line, the stock or index is losing strength.\nMany beginning traders don’t realize that momentum always changes before price does. That is what makes MACD and the MACD-Histogram so valuable. Both indicators detect when momentum is weakening. It could also be a signal to become bullish if the histogram bars move above the zero line.\nHistogram signals\n\nIf the MACD-Histogram bar changes to a lighter color, it means that momentum is diminishing. It is not a sell signal; it simply means that enthusiasm for that particular stock is waning.\n\n\nAs mentioned earlier, if the histogram bar rises above the zero line, that is a buy signal. An uptrend may be developing. If the histogram bar drops below the zero line, that is a sell signal. A downtrend may be developing.\n\nRed flags\nIf you see the index prices as well as stock prices move higher, but MACD turns lower, that is a red flag. In addition, if you see the MACD-Histogram changing colors and the bars getting shorter, that confirms momentum is weakening (but confirm this against RSI or stochastics).\nIf you have never used MACD or MACD-Histogram, give it a try. Use these measures for any stock that has hit bottom and is on its way higher. They’ll help confirm whether the stock has legs or is a just giving traders a head fake.\nMichael Sincere (michaelsincere.com) is the author of “Understanding Options” and “Understanding Stocks.”","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860696479,"gmtCreate":1632167977391,"gmtModify":1632802418974,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Buy dip wee","listText":"Buy dip wee","text":"Buy dip wee","images":[{"img":"https://static.tigerbbs.com/20f5fd3be376ab3f57e85c440100bfeb","width":"1125","height":"3371"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/860696479","isVote":1,"tweetType":1,"viewCount":630,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":884244114,"gmtCreate":1631900485538,"gmtModify":1632805462253,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Go nvda! Strong stock&nbsp;","listText":"Go nvda! Strong stock&nbsp;","text":"Go nvda! Strong stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/884244114","repostId":"1150667437","repostType":4,"repost":{"id":"1150667437","kind":"news","pubTimestamp":1631891955,"share":"https://www.laohunote.com/m/news/1150667437?lang=zh_CN&edition=full","pubTime":"2021-09-17 23:19","market":"us","language":"en","title":"Nvidia Stock Got Two Price Target Hikes. The Market Shrugged.<blockquote>英伟达股票两次上调目标价。市场耸耸肩。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150667437","media":"Barrons","summary":"Two Wall Street analysts raised their price targets on Nvidia but the stock edged lower as momentum ","content":"<p>Two Wall Street analysts raised their price targets on Nvidia but the stock edged lower as momentum for the once red-hot shares of the graphics-chip maker continued to cool this week.</p><p><blockquote>两位华尔街分析师上调了英伟达的目标价，但随着这家图形芯片制造商曾经炙手可热的股价本周继续降温，该股小幅走低。</blockquote></p><p> Bank of America raised its price target on Nvidia (ticker: NVDA) to $275 from $260. Analyst Vivek Arya maintained his Buy rating on the stock, saying in a note, which included a larger call on the sector, that certain chip makers are benefiting from pricing power and “disciplined supply.”</p><p><blockquote>美国银行将英伟达（股票代码：NVDA）的目标价从 260 美元上调至 275 美元。分析师维韦克-阿里亚（Vivek Arya）维持对该股的买入评级，并在一份报告中表示，某些芯片制造商正受益于定价权和 “有纪律的供应 ”。</blockquote></p><p> Arya also maintained Buy ratings on Microchip Technology (MCHP) and KLA Corp.(KLAC) and raised the price targets on both: Microchip to $185 from&nbsp;$170; KLA to $450 from $425.&nbsp;</p><p><blockquote>Arya 还维持 Microchip Technology (MCHP) 和 KLA Corp. (KLAC) 的买入评级，并将这两家公司的目标价从 170 美元上调至 185 美元；KLA从425美元涨到450美元。</blockquote></p><p> Bank of America downgraded shares of&nbsp;Synopsys&nbsp;(SNPS),Cirrus Logic&nbsp;(CRUS) and Cree Inc. (CREE) to underperform from neutral.&nbsp;</p><p><blockquote>美国银行将 Synopsys (SNPS)、Cirrus Logic (CRUS) 和 Cree Inc. (CREE) 的股票评级从中性下调至表现不佳。</blockquote></p><p> Truist Securities, meanwhile, said Nvidia remains the firm’s “best large-cap growth idea.”</p><p><blockquote>与此同时，Truist Securities 表示，英伟达仍然是该公司 “最好的大盘股增长理念”。</blockquote></p><p> Analysts led by William Stein said they recently hosted an in-person meeting with Colette Kress, the company’s chief financial officer, and while “we do not believe NVDA made any new material disclosures …we gained incremental conviction on growth drivers in gaming, (reduced risk of crypto overhang), pro-viz, datacenter, and automotive.”</p><p><blockquote>以威廉-斯坦（William Stein）为首的分析师表示，他们最近与该公司首席财务官科莱特-克雷斯（Colette Kress）进行了面对面的会面，虽然 “我们认为 NVDA 没有做出任何新的重大披露.我们对游戏、（降低加密货币悬空风险）、pro-viz、数据中心和汽车领域的增长动力有了越来越多的信心”。</blockquote></p><p> Truist raised its price target on the stock to $257 from $230.</p><p><blockquote>Truist 将该股目标价从 230 美元上调至 257 美元。</blockquote></p><p> Forty-one analysts surveyed by FactSet rate the stock at Overweight with an average price target of $230.52.</p><p><blockquote>FactSet 调查的 41 名分析师将该股评级为跑赢大盘，平均目标价为 230.52 美元。</blockquote></p><p> The optimism hasn’t helped Nvidia stock Friday. Shares were off 0.7% to $220.88 after declining more than 1.7% over the past five days. Still, the stock has gained almost 70% so far in 2021.</p><p><blockquote>周五，乐观情绪对英伟达的股价没有帮助。过去五天下跌超过 1.7%，股价下跌 0.7%，至 220.88 美元。尽管如此，2021 年迄今为止，该股已上涨近 70%。</blockquote></p><p> Investors have been eagerly awaiting a European Union ruling next month on Nvidia’s&nbsp;$40 billion plan to buy the chip technology maker Arm.</p><p><blockquote>投资者一直在热切地等待欧盟下个月对英伟达斥资 400 亿美元收购芯片技术制造商 Arm 的计划做出裁决。</blockquote></p><p> The EU has set Oct. 13 as the deadline to make a ruling on Nvidia’s plan to buy Arm.</p><p><blockquote>欧盟已将 10 月 13 日定为对 Nvidia 收购 Arm 计划做出裁决的最后期限。</blockquote></p><p> “We are working through the regulatory process and we look forward to engaging with the European Commission to address any concerns they may have,” Nvidia said in a statement earlier in September. “This transaction will be beneficial to Arm, its licensees, competition, and the industry.”</p><p><blockquote>“Nvidia 在 9 月初的一份声明中说：”我们正在完成监管程序，我们期待与欧盟委员会接触，解决他们可能存在的任何问题。“这项交易将有利于 Arm、其被许可方、竞争和行业。”</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia Stock Got Two Price Target Hikes. The Market Shrugged.<blockquote>英伟达股票两次上调目标价。市场耸耸肩。</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\">\nNvidia Stock Got Two Price Target Hikes. The Market Shrugged.<blockquote>英伟达股票两次上调目标价。市场耸耸肩。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-17 23:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Two Wall Street analysts raised their price targets on Nvidia but the stock edged lower as momentum for the once red-hot shares of the graphics-chip maker continued to cool this week.</p><p><blockquote>两位华尔街分析师上调了英伟达的目标价，但随着这家图形芯片制造商曾经炙手可热的股价本周继续降温，该股小幅走低。</blockquote></p><p> Bank of America raised its price target on Nvidia (ticker: NVDA) to $275 from $260. Analyst Vivek Arya maintained his Buy rating on the stock, saying in a note, which included a larger call on the sector, that certain chip makers are benefiting from pricing power and “disciplined supply.”</p><p><blockquote>美国银行将英伟达（股票代码：NVDA）的目标价从 260 美元上调至 275 美元。分析师维韦克-阿里亚（Vivek Arya）维持对该股的买入评级，并在一份报告中表示，某些芯片制造商正受益于定价权和 “有纪律的供应 ”。</blockquote></p><p> Arya also maintained Buy ratings on Microchip Technology (MCHP) and KLA Corp.(KLAC) and raised the price targets on both: Microchip to $185 from&nbsp;$170; KLA to $450 from $425.&nbsp;</p><p><blockquote>Arya 还维持 Microchip Technology (MCHP) 和 KLA Corp. (KLAC) 的买入评级，并将这两家公司的目标价从 170 美元上调至 185 美元；KLA从425美元涨到450美元。</blockquote></p><p> Bank of America downgraded shares of&nbsp;Synopsys&nbsp;(SNPS),Cirrus Logic&nbsp;(CRUS) and Cree Inc. (CREE) to underperform from neutral.&nbsp;</p><p><blockquote>美国银行将 Synopsys (SNPS)、Cirrus Logic (CRUS) 和 Cree Inc. (CREE) 的股票评级从中性下调至表现不佳。</blockquote></p><p> Truist Securities, meanwhile, said Nvidia remains the firm’s “best large-cap growth idea.”</p><p><blockquote>与此同时，Truist Securities 表示，英伟达仍然是该公司 “最好的大盘股增长理念”。</blockquote></p><p> Analysts led by William Stein said they recently hosted an in-person meeting with Colette Kress, the company’s chief financial officer, and while “we do not believe NVDA made any new material disclosures …we gained incremental conviction on growth drivers in gaming, (reduced risk of crypto overhang), pro-viz, datacenter, and automotive.”</p><p><blockquote>以威廉-斯坦（William Stein）为首的分析师表示，他们最近与该公司首席财务官科莱特-克雷斯（Colette Kress）进行了面对面的会面，虽然 “我们认为 NVDA 没有做出任何新的重大披露.我们对游戏、（降低加密货币悬空风险）、pro-viz、数据中心和汽车领域的增长动力有了越来越多的信心”。</blockquote></p><p> Truist raised its price target on the stock to $257 from $230.</p><p><blockquote>Truist 将该股目标价从 230 美元上调至 257 美元。</blockquote></p><p> Forty-one analysts surveyed by FactSet rate the stock at Overweight with an average price target of $230.52.</p><p><blockquote>FactSet 调查的 41 名分析师将该股评级为跑赢大盘，平均目标价为 230.52 美元。</blockquote></p><p> The optimism hasn’t helped Nvidia stock Friday. Shares were off 0.7% to $220.88 after declining more than 1.7% over the past five days. Still, the stock has gained almost 70% so far in 2021.</p><p><blockquote>周五，乐观情绪对英伟达的股价没有帮助。过去五天下跌超过 1.7%，股价下跌 0.7%，至 220.88 美元。尽管如此，2021 年迄今为止，该股已上涨近 70%。</blockquote></p><p> Investors have been eagerly awaiting a European Union ruling next month on Nvidia’s&nbsp;$40 billion plan to buy the chip technology maker Arm.</p><p><blockquote>投资者一直在热切地等待欧盟下个月对英伟达斥资 400 亿美元收购芯片技术制造商 Arm 的计划做出裁决。</blockquote></p><p> The EU has set Oct. 13 as the deadline to make a ruling on Nvidia’s plan to buy Arm.</p><p><blockquote>欧盟已将 10 月 13 日定为对 Nvidia 收购 Arm 计划做出裁决的最后期限。</blockquote></p><p> “We are working through the regulatory process and we look forward to engaging with the European Commission to address any concerns they may have,” Nvidia said in a statement earlier in September. “This transaction will be beneficial to Arm, its licensees, competition, and the industry.”</p><p><blockquote>“Nvidia 在 9 月初的一份声明中说：”我们正在完成监管程序，我们期待与欧盟委员会接触，解决他们可能存在的任何问题。“这项交易将有利于 Arm、其被许可方、竞争和行业。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/nvidia-nvda-stock-price-51631888776?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.barrons.com/articles/nvidia-nvda-stock-price-51631888776?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150667437","content_text":"Two Wall Street analysts raised their price targets on Nvidia but the stock edged lower as momentum for the once red-hot shares of the graphics-chip maker continued to cool this week.\nBank of America raised its price target on Nvidia (ticker: NVDA) to $275 from $260. Analyst Vivek Arya maintained his Buy rating on the stock, saying in a note, which included a larger call on the sector, that certain chip makers are benefiting from pricing power and “disciplined supply.”\n\nArya also maintained Buy ratings on Microchip Technology (MCHP) and KLA Corp.(KLAC) and raised the price targets on both: Microchip to $185 from $170; KLA to $450 from $425. \n\nBank of America downgraded shares of Synopsys (SNPS),Cirrus Logic (CRUS) and Cree Inc. (CREE) to underperform from neutral. \n\nTruist Securities, meanwhile, said Nvidia remains the firm’s “best large-cap growth idea.”\nAnalysts led by William Stein said they recently hosted an in-person meeting with Colette Kress, the company’s chief financial officer, and while “we do not believe NVDA made any new material disclosures …we gained incremental conviction on growth drivers in gaming, (reduced risk of crypto overhang), pro-viz, datacenter, and automotive.”\nTruist raised its price target on the stock to $257 from $230.\nForty-one analysts surveyed by FactSet rate the stock at Overweight with an average price target of $230.52.\nThe optimism hasn’t helped Nvidia stock Friday. Shares were off 0.7% to $220.88 after declining more than 1.7% over the past five days. Still, the stock has gained almost 70% so far in 2021.\nInvestors have been eagerly awaiting a European Union ruling next month on Nvidia’s $40 billion plan to buy the chip technology maker Arm.\n\nThe EU has set Oct. 13 as the deadline to make a ruling on Nvidia’s plan to buy Arm.\n“We are working through the regulatory process and we look forward to engaging with the European Commission to address any concerns they may have,” Nvidia said in a statement earlier in September. “This transaction will be beneficial to Arm, its licensees, competition, and the industry.”","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":781,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884245499,"gmtCreate":1631900431111,"gmtModify":1632805462748,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Time to come back up’! $400 where r u~&nbsp;","listText":"Time to come back up’! $400 where r u~&nbsp;","text":"Time to come back up’! $400 where r u~","images":[{"img":"https://static.tigerbbs.com/dbf58b16ac55c8ee2d2e0d141e0f72d8","width":"1125","height":"2459"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/884245499","isVote":1,"tweetType":1,"viewCount":803,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":161339963,"gmtCreate":1623904208852,"gmtModify":1631883958357,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/ZM\">$Zoom(ZM)$</a>Wil we see $400 soon?!!!🤩","listText":"<a href=\"https://laohu8.com/S/ZM\">$Zoom(ZM)$</a>Wil we see $400 soon?!!!🤩","text":"$Zoom(ZM)$Wil we see $400 soon?!!!🤩","images":[{"img":"https://static.tigerbbs.com/d948076734e058f772c7c15764be4b77","width":"1284","height":"2223"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/161339963","isVote":1,"tweetType":1,"viewCount":1444,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":884244114,"gmtCreate":1631900485538,"gmtModify":1632805462253,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Go nvda! Strong stock&nbsp;","listText":"Go nvda! Strong stock&nbsp;","text":"Go nvda! Strong stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/884244114","repostId":"1150667437","repostType":4,"repost":{"id":"1150667437","kind":"news","pubTimestamp":1631891955,"share":"https://www.laohunote.com/m/news/1150667437?lang=zh_CN&edition=full","pubTime":"2021-09-17 23:19","market":"us","language":"en","title":"Nvidia Stock Got Two Price Target Hikes. The Market Shrugged.<blockquote>英伟达股票两次上调目标价。市场耸耸肩。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150667437","media":"Barrons","summary":"Two Wall Street analysts raised their price targets on Nvidia but the stock edged lower as momentum ","content":"<p>Two Wall Street analysts raised their price targets on Nvidia but the stock edged lower as momentum for the once red-hot shares of the graphics-chip maker continued to cool this week.</p><p><blockquote>两位华尔街分析师上调了英伟达的目标价，但随着这家图形芯片制造商曾经炙手可热的股价本周继续降温，该股小幅走低。</blockquote></p><p> Bank of America raised its price target on Nvidia (ticker: NVDA) to $275 from $260. Analyst Vivek Arya maintained his Buy rating on the stock, saying in a note, which included a larger call on the sector, that certain chip makers are benefiting from pricing power and “disciplined supply.”</p><p><blockquote>美国银行将英伟达（股票代码：NVDA）的目标价从 260 美元上调至 275 美元。分析师维韦克-阿里亚（Vivek Arya）维持对该股的买入评级，并在一份报告中表示，某些芯片制造商正受益于定价权和 “有纪律的供应 ”。</blockquote></p><p> Arya also maintained Buy ratings on Microchip Technology (MCHP) and KLA Corp.(KLAC) and raised the price targets on both: Microchip to $185 from&nbsp;$170; KLA to $450 from $425.&nbsp;</p><p><blockquote>Arya 还维持 Microchip Technology (MCHP) 和 KLA Corp. (KLAC) 的买入评级，并将这两家公司的目标价从 170 美元上调至 185 美元；KLA从425美元涨到450美元。</blockquote></p><p> Bank of America downgraded shares of&nbsp;Synopsys&nbsp;(SNPS),Cirrus Logic&nbsp;(CRUS) and Cree Inc. (CREE) to underperform from neutral.&nbsp;</p><p><blockquote>美国银行将 Synopsys (SNPS)、Cirrus Logic (CRUS) 和 Cree Inc. (CREE) 的股票评级从中性下调至表现不佳。</blockquote></p><p> Truist Securities, meanwhile, said Nvidia remains the firm’s “best large-cap growth idea.”</p><p><blockquote>与此同时，Truist Securities 表示，英伟达仍然是该公司 “最好的大盘股增长理念”。</blockquote></p><p> Analysts led by William Stein said they recently hosted an in-person meeting with Colette Kress, the company’s chief financial officer, and while “we do not believe NVDA made any new material disclosures …we gained incremental conviction on growth drivers in gaming, (reduced risk of crypto overhang), pro-viz, datacenter, and automotive.”</p><p><blockquote>以威廉-斯坦（William Stein）为首的分析师表示，他们最近与该公司首席财务官科莱特-克雷斯（Colette Kress）进行了面对面的会面，虽然 “我们认为 NVDA 没有做出任何新的重大披露.我们对游戏、（降低加密货币悬空风险）、pro-viz、数据中心和汽车领域的增长动力有了越来越多的信心”。</blockquote></p><p> Truist raised its price target on the stock to $257 from $230.</p><p><blockquote>Truist 将该股目标价从 230 美元上调至 257 美元。</blockquote></p><p> Forty-one analysts surveyed by FactSet rate the stock at Overweight with an average price target of $230.52.</p><p><blockquote>FactSet 调查的 41 名分析师将该股评级为跑赢大盘，平均目标价为 230.52 美元。</blockquote></p><p> The optimism hasn’t helped Nvidia stock Friday. Shares were off 0.7% to $220.88 after declining more than 1.7% over the past five days. Still, the stock has gained almost 70% so far in 2021.</p><p><blockquote>周五，乐观情绪对英伟达的股价没有帮助。过去五天下跌超过 1.7%，股价下跌 0.7%，至 220.88 美元。尽管如此，2021 年迄今为止，该股已上涨近 70%。</blockquote></p><p> Investors have been eagerly awaiting a European Union ruling next month on Nvidia’s&nbsp;$40 billion plan to buy the chip technology maker Arm.</p><p><blockquote>投资者一直在热切地等待欧盟下个月对英伟达斥资 400 亿美元收购芯片技术制造商 Arm 的计划做出裁决。</blockquote></p><p> The EU has set Oct. 13 as the deadline to make a ruling on Nvidia’s plan to buy Arm.</p><p><blockquote>欧盟已将 10 月 13 日定为对 Nvidia 收购 Arm 计划做出裁决的最后期限。</blockquote></p><p> “We are working through the regulatory process and we look forward to engaging with the European Commission to address any concerns they may have,” Nvidia said in a statement earlier in September. “This transaction will be beneficial to Arm, its licensees, competition, and the industry.”</p><p><blockquote>“Nvidia 在 9 月初的一份声明中说：”我们正在完成监管程序，我们期待与欧盟委员会接触，解决他们可能存在的任何问题。“这项交易将有利于 Arm、其被许可方、竞争和行业。”</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia Stock Got Two Price Target Hikes. The Market Shrugged.<blockquote>英伟达股票两次上调目标价。市场耸耸肩。</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\">\nNvidia Stock Got Two Price Target Hikes. The Market Shrugged.<blockquote>英伟达股票两次上调目标价。市场耸耸肩。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-17 23:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Two Wall Street analysts raised their price targets on Nvidia but the stock edged lower as momentum for the once red-hot shares of the graphics-chip maker continued to cool this week.</p><p><blockquote>两位华尔街分析师上调了英伟达的目标价，但随着这家图形芯片制造商曾经炙手可热的股价本周继续降温，该股小幅走低。</blockquote></p><p> Bank of America raised its price target on Nvidia (ticker: NVDA) to $275 from $260. Analyst Vivek Arya maintained his Buy rating on the stock, saying in a note, which included a larger call on the sector, that certain chip makers are benefiting from pricing power and “disciplined supply.”</p><p><blockquote>美国银行将英伟达（股票代码：NVDA）的目标价从 260 美元上调至 275 美元。分析师维韦克-阿里亚（Vivek Arya）维持对该股的买入评级，并在一份报告中表示，某些芯片制造商正受益于定价权和 “有纪律的供应 ”。</blockquote></p><p> Arya also maintained Buy ratings on Microchip Technology (MCHP) and KLA Corp.(KLAC) and raised the price targets on both: Microchip to $185 from&nbsp;$170; KLA to $450 from $425.&nbsp;</p><p><blockquote>Arya 还维持 Microchip Technology (MCHP) 和 KLA Corp. (KLAC) 的买入评级，并将这两家公司的目标价从 170 美元上调至 185 美元；KLA从425美元涨到450美元。</blockquote></p><p> Bank of America downgraded shares of&nbsp;Synopsys&nbsp;(SNPS),Cirrus Logic&nbsp;(CRUS) and Cree Inc. (CREE) to underperform from neutral.&nbsp;</p><p><blockquote>美国银行将 Synopsys (SNPS)、Cirrus Logic (CRUS) 和 Cree Inc. (CREE) 的股票评级从中性下调至表现不佳。</blockquote></p><p> Truist Securities, meanwhile, said Nvidia remains the firm’s “best large-cap growth idea.”</p><p><blockquote>与此同时，Truist Securities 表示，英伟达仍然是该公司 “最好的大盘股增长理念”。</blockquote></p><p> Analysts led by William Stein said they recently hosted an in-person meeting with Colette Kress, the company’s chief financial officer, and while “we do not believe NVDA made any new material disclosures …we gained incremental conviction on growth drivers in gaming, (reduced risk of crypto overhang), pro-viz, datacenter, and automotive.”</p><p><blockquote>以威廉-斯坦（William Stein）为首的分析师表示，他们最近与该公司首席财务官科莱特-克雷斯（Colette Kress）进行了面对面的会面，虽然 “我们认为 NVDA 没有做出任何新的重大披露.我们对游戏、（降低加密货币悬空风险）、pro-viz、数据中心和汽车领域的增长动力有了越来越多的信心”。</blockquote></p><p> Truist raised its price target on the stock to $257 from $230.</p><p><blockquote>Truist 将该股目标价从 230 美元上调至 257 美元。</blockquote></p><p> Forty-one analysts surveyed by FactSet rate the stock at Overweight with an average price target of $230.52.</p><p><blockquote>FactSet 调查的 41 名分析师将该股评级为跑赢大盘，平均目标价为 230.52 美元。</blockquote></p><p> The optimism hasn’t helped Nvidia stock Friday. Shares were off 0.7% to $220.88 after declining more than 1.7% over the past five days. Still, the stock has gained almost 70% so far in 2021.</p><p><blockquote>周五，乐观情绪对英伟达的股价没有帮助。过去五天下跌超过 1.7%，股价下跌 0.7%，至 220.88 美元。尽管如此，2021 年迄今为止，该股已上涨近 70%。</blockquote></p><p> Investors have been eagerly awaiting a European Union ruling next month on Nvidia’s&nbsp;$40 billion plan to buy the chip technology maker Arm.</p><p><blockquote>投资者一直在热切地等待欧盟下个月对英伟达斥资 400 亿美元收购芯片技术制造商 Arm 的计划做出裁决。</blockquote></p><p> The EU has set Oct. 13 as the deadline to make a ruling on Nvidia’s plan to buy Arm.</p><p><blockquote>欧盟已将 10 月 13 日定为对 Nvidia 收购 Arm 计划做出裁决的最后期限。</blockquote></p><p> “We are working through the regulatory process and we look forward to engaging with the European Commission to address any concerns they may have,” Nvidia said in a statement earlier in September. “This transaction will be beneficial to Arm, its licensees, competition, and the industry.”</p><p><blockquote>“Nvidia 在 9 月初的一份声明中说：”我们正在完成监管程序，我们期待与欧盟委员会接触，解决他们可能存在的任何问题。“这项交易将有利于 Arm、其被许可方、竞争和行业。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/nvidia-nvda-stock-price-51631888776?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.barrons.com/articles/nvidia-nvda-stock-price-51631888776?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150667437","content_text":"Two Wall Street analysts raised their price targets on Nvidia but the stock edged lower as momentum for the once red-hot shares of the graphics-chip maker continued to cool this week.\nBank of America raised its price target on Nvidia (ticker: NVDA) to $275 from $260. Analyst Vivek Arya maintained his Buy rating on the stock, saying in a note, which included a larger call on the sector, that certain chip makers are benefiting from pricing power and “disciplined supply.”\n\nArya also maintained Buy ratings on Microchip Technology (MCHP) and KLA Corp.(KLAC) and raised the price targets on both: Microchip to $185 from $170; KLA to $450 from $425. \n\nBank of America downgraded shares of Synopsys (SNPS),Cirrus Logic (CRUS) and Cree Inc. (CREE) to underperform from neutral. \n\nTruist Securities, meanwhile, said Nvidia remains the firm’s “best large-cap growth idea.”\nAnalysts led by William Stein said they recently hosted an in-person meeting with Colette Kress, the company’s chief financial officer, and while “we do not believe NVDA made any new material disclosures …we gained incremental conviction on growth drivers in gaming, (reduced risk of crypto overhang), pro-viz, datacenter, and automotive.”\nTruist raised its price target on the stock to $257 from $230.\nForty-one analysts surveyed by FactSet rate the stock at Overweight with an average price target of $230.52.\nThe optimism hasn’t helped Nvidia stock Friday. Shares were off 0.7% to $220.88 after declining more than 1.7% over the past five days. Still, the stock has gained almost 70% so far in 2021.\nInvestors have been eagerly awaiting a European Union ruling next month on Nvidia’s $40 billion plan to buy the chip technology maker Arm.\n\nThe EU has set Oct. 13 as the deadline to make a ruling on Nvidia’s plan to buy Arm.\n“We are working through the regulatory process and we look forward to engaging with the European Commission to address any concerns they may have,” Nvidia said in a statement earlier in September. “This transaction will be beneficial to Arm, its licensees, competition, and the industry.”","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":781,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898257590,"gmtCreate":1628504386410,"gmtModify":1633746625236,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/898257590","repostId":"1184000657","repostType":4,"isVote":1,"tweetType":1,"viewCount":719,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115882982,"gmtCreate":1622971238846,"gmtModify":1634096474657,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Looking forward. Like reply pls&nbsp;","listText":"Looking forward. Like reply pls&nbsp;","text":"Looking forward. Like reply pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/115882982","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohunote.com/m/news/1106312903?lang=zh_CN&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</li><li>支付平台 Marqeta 计划以 124 亿美元的市值筹集 10 亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>市场</b>(MQ) 计划以 124 亿美元的市值筹集 10 亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta 发展迅速，其客户中包括 Affirm (AFRM) 和 DoorDash (DASH) 等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中国在线招聘平台<b>看准</b>(BZ) 计划以 82 亿美元的市值筹集 8.64 亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，根据MAUs，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>LifeStance健康</b>(LFST) 计划以 61 亿美元的市值筹集 6.4 亿美元。LifeStance表示，它已经建立了美国最大的门诊心理健康平台之一，截至2021年3月31日，在27个州的73个MSA雇佣了3300多名持牌心理健康临床医生。尽管息税前利润在2021年第一季度变为负值，但该公司仍表现出增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>星期一网</b>(MNDY) 计划以 68 亿美元的市值筹集 4.9 亿美元。monday.com允许组织轻松构建适合其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce 和 Zoom 计划同时投资 1.5 亿美元进行私募。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>口袋</b>（任务）计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利且增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA) 计划以 21 亿美元的市值筹集 2.5 亿美元。该公司的 Zeta 营销平台利用身份数据，通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta 盈利，为 1,000 多名客户提供服务，到 2020 年将提供大约 5 亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>在线奢侈品市场<b>1stDibs</b>(DIBS) 计划以 7.73 亿美元的市值筹集 1.12 亿美元。1stDibs连接古董、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020 年，该市场在过去一年中有超过 58,000 名买家进行了购买，平均每年总购买金额超过 5,500 美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME) 计划以 19 亿美元的市值筹集 4300 万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将对 6 家公司进行街头调查，多达 11 家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2021年6月3日，文艺复兴IPO指数年初至今下跌6.0%，而标普500上涨11.6%。Renaissance Capital 的 IPO ETF（纽约证券交易所股票代码：IPO）追踪该指数，持有量最大的 ETF 包括Zoom Video (ZM) 和优步 (UBER)。Renaissance International IPO 指数今年迄今下跌 1.1%，而 ACWX 指数上涨 10.5%。Renaissance Capital 的国际 IPO ETF（纽约证券交易所股票代码：IPOS）追踪该指数，持有的 ETF 包括 Nexi 和 EQT Partners。</blockquote></p><p></p>","source":"lsy1603787993745","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>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 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\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-06-05 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</li><li>支付平台 Marqeta 计划以 124 亿美元的市值筹集 10 亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>市场</b>(MQ) 计划以 124 亿美元的市值筹集 10 亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta 发展迅速，其客户中包括 Affirm (AFRM) 和 DoorDash (DASH) 等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中国在线招聘平台<b>看准</b>(BZ) 计划以 82 亿美元的市值筹集 8.64 亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，根据MAUs，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>LifeStance健康</b>(LFST) 计划以 61 亿美元的市值筹集 6.4 亿美元。LifeStance表示，它已经建立了美国最大的门诊心理健康平台之一，截至2021年3月31日，在27个州的73个MSA雇佣了3300多名持牌心理健康临床医生。尽管息税前利润在2021年第一季度变为负值，但该公司仍表现出增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>星期一网</b>(MNDY) 计划以 68 亿美元的市值筹集 4.9 亿美元。monday.com允许组织轻松构建适合其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce 和 Zoom 计划同时投资 1.5 亿美元进行私募。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>口袋</b>（任务）计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利且增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA) 计划以 21 亿美元的市值筹集 2.5 亿美元。该公司的 Zeta 营销平台利用身份数据，通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta 盈利，为 1,000 多名客户提供服务，到 2020 年将提供大约 5 亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>在线奢侈品市场<b>1stDibs</b>(DIBS) 计划以 7.73 亿美元的市值筹集 1.12 亿美元。1stDibs连接古董、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020 年，该市场在过去一年中有超过 58,000 名买家进行了购买，平均每年总购买金额超过 5,500 美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME) 计划以 19 亿美元的市值筹集 4300 万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将对 6 家公司进行街头调查，多达 11 家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2021年6月3日，文艺复兴IPO指数年初至今下跌6.0%，而标普500上涨11.6%。Renaissance Capital 的 IPO ETF（纽约证券交易所股票代码：IPO）追踪该指数，持有量最大的 ETF 包括Zoom Video (ZM) 和优步 (UBER)。Renaissance International IPO 指数今年迄今下跌 1.1%，而 ACWX 指数上涨 10.5%。Renaissance Capital 的国际 IPO ETF（纽约证券交易所股票代码：IPOS）追踪该指数，持有的 ETF 包括 Nexi 和 EQT Partners。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Renaissance Capital</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":{"MQ":"Marqeta, Inc.","MNDY":"Monday.com Ltd.",".IXIC":"NASDAQ Composite","BZ":"BOSS直聘","ZETA":"Zeta Global Holdings Corp.",".DJI":"道琼斯","DIBS":"1stdibs.com Inc.",".SPX":"S&P 500 Index","ZME":"掌门教育","TASK":"TaskUs Inc.","LFST":"LifeStance Health Group, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{"DIBS":0.9,"MQ":0.9,"ZETA":0.9,".SPX":0.9,".IXIC":0.9,"LFST":0.9,"ZME":0.9,"TASK":0.9,"MNDY":0.9,"BZ":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116299438,"gmtCreate":1622801004424,"gmtModify":1634097882695,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Hopeful? Reply pls&nbsp;","listText":"Hopeful? Reply pls&nbsp;","text":"Hopeful? Reply pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/116299438","repostId":"1122373606","repostType":4,"repost":{"id":"1122373606","kind":"news","pubTimestamp":1622793373,"share":"https://www.laohunote.com/m/news/1122373606?lang=zh_CN&edition=full","pubTime":"2021-06-04 15:56","market":"us","language":"en","title":"Where Will Apple Stock Be In 10 Years? What To Consider<blockquote>10年后苹果股票会在哪里？需要考虑什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122373606","media":"seekingalpha","summary":"Summary\n\nApple has been a great investment over the last decade, but the next decade may look quite ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Apple has been a great investment over the last decade, but the next decade may look quite different.</li>  <li>Apple has seen its growth slow down over the last decade, and it will likely not be a growth monster in the coming years, either.</li>  <li>Shares have ample long-term upside, but investors should consider the current valuation before jumping to decisions.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9f2ea192ed76d9772c2c6a820098faf5\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Photo by Paopano/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>苹果在过去十年中是一项伟大的投资，但未来十年可能会大不相同。</li><li>苹果在过去十年中增长放缓，未来几年也不太可能成为增长怪物。</li><li>股票具有充足的长期上涨空间，但投资者在做出决定之前应考虑当前的估值。</li></ul><p class=\"t-img-caption\"><span>摄影：Paopano/iStock 社论来自 Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Apple (AAPL) has been one of the best investments one could have made over the last decade. Over the next decade, its growth may not be the same, however. Yet, thanks to massive shareholder return programs and a move towards services, Apple's stock will likely still be significantly higher a decade from now - even though the current valuation is rather high.</p><p><blockquote>苹果 (AAPL) 是过去十年中最好的投资之一。然而，在接下来的十年里，它的增长可能不会一样。然而，由于大规模的股东回报计划和向服务业的转变，十年后苹果的股价可能仍会大幅上涨——尽管目前的估值相当高。</blockquote></p><p> <b>Apple Stock Price</b></p><p><blockquote><b>苹果股价</b></blockquote></p><p> Over the last decade, Apple Inc. has been a great investment:</p><p><blockquote>在过去十年中，苹果公司一直是一项伟大的投资：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5d29aa34bdbc5bab7d0730a4095954e6\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> Shares have returned 900% in those ten years, before dividends, for a compounded annual return of approximately 26%, easily trouncing the returns of the broad market during that time frame. Importantly, shares have risen a lot more than the company's market capitalization, which grew by only 550% over the last decade. The difference can be explained by the company's large share repurchase programs, which have lowered the share count drastically over the last decade. The last decade, of course, was a highly successful period for Apple on a business basis, as the company benefited from the rise of smartphones while also having success with new products such as its Watch and tablets, which Apple more or less introduced as a new product category. Right now, shares trade for $125, up 57% over the last twelve months, but down 6% in 2021 to date. Following strong gains during 2020, shares seem to be in a consolidation pattern for now, which is not too much of a surprise, as Apple's valuation had expanded a lot in the recent past, and it seems that the company's business growth has to catch up to the recent share price increases now. The current consensus price target is $156, which implies an upside potential of 25%. Since there are no signs of shares leaving their current trading range right now, I personally do not think that Apple will breach $150 in the near term.</p><p><blockquote>在这十年中，扣除股息前的股票回报率为 900%，年复合回报率约为 26%，轻松超过了该时期大盘的回报率。重要的是，股价的涨幅远远超过了公司的市值，而公司的市值在过去十年中仅增长了 550%。这种差异可以用该公司的大规模股票回购计划来解释，该计划在过去十年中大幅降低了股票数量。当然，过去十年对苹果来说是一个非常成功的商业时期，因为该公司受益于智能手机的崛起，同时在手表和平板电脑等新产品方面也取得了成功，苹果或多或少地将其作为一个新的产品类别推出。目前，股价为 125 美元，比过去 12 个月上涨了 57%，但 2021 年迄今下跌了 6%。继2020年强劲上涨之后，股价目前似乎处于盘整模式，这并不奇怪，因为苹果的估值在最近的过去扩大了很多，而且该公司的业务增长似乎必须赶上最近的股价上涨。目前一致的目标价为 156 美元，这意味着上涨潜力为 25%。由于目前没有迹象表明股票会离开当前的交易区间，我个人认为苹果短期内不会突破150美元。</blockquote></p><p> <b>Where Will Apple Stock Be In 10 Years</b></p><p><blockquote><b>苹果股票10年后会在哪里</b></blockquote></p><p> Apple's stock price in 2031 is, of course, nothing that can be forecasted with any precision. As history has shown, again and again, it is not even possible to forecast share prices precisely over a much shorter period of time. It is, however, possible to craft scenarios to see where share prices could be in the future under certain conditions, to get a feel for what might be a reasonable expectation for the future.</p><p><blockquote>当然，2031年苹果的股价是无法精确预测的。历史一次又一次地表明，甚至不可能在更短的时间内准确预测股价。然而，可以制定情景，看看在特定条件下未来股价可能会处于什么位置，以了解对未来的合理预期。</blockquote></p><p> To craft one such scenario, we have to consider Apple's business growth, Apple's shareholder return program, and the valuation multiple that shares might trade at in the future.</p><p><blockquote>为了制定这样一个场景，我们必须考虑苹果的业务增长、苹果的股东回报计划以及股票未来可能交易的估值倍数。</blockquote></p><p> <b>Apple's business growth</b></p><p><blockquote><b>苹果的业务增长</b></blockquote></p><p> Apple Inc. has seen years of stronger growth and years of weaker growth in the past. This mostly can be explained by factors such as new product introductions, e.g. Watch or iPad, and by the strength of the respective current iPhone models, which see varying demand depending on the year. Other factors, such as economic growth or trade issues, play a role as well.</p><p><blockquote>苹果公司过去经历了几年的强劲增长和几年的疲软增长。这主要可以用新产品推出等因素来解释。手表或iPad，以及各自当前iPhone型号的实力，这些型号的需求因年份而异。其他因素，如经济增长或贸易问题，也起着一定的作用。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5b8bd8ef6cdaa13850c1380e870554c\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> Overall, revenues have grown by 154% over the last decade, but as we see in the above chart, revenue growth has been relatively uneven. During the early 2010s, Apple generated massive growth on the back of the iPhones \"road to victory\", whereas revenue growth declined to a much slower pace in the following years. There were even some years during which revenues declined on a year-over-year basis, such as 2016. The average annual revenue growth pace was 10% over the last decade, but when we factor in that this was lifted up by the very strong growth in 2011 and 2012, it may not be too reasonable to assume that Apple will grow by 10% a year in the future, too. Investors should also consider that maintaining a high growth rate becomes ever more difficult the larger a company gets. This does, however, not mean that Apple's revenue growth will slow down to zero.</p><p><blockquote>总体而言，过去十年收入增长了 154%，但正如我们在上图中看到的，收入增长相对不均衡。在2010年代初，苹果在iPhone“胜利之路”的支持下实现了巨大的增长，而在接下来的几年里，收入增长放缓得多。甚至有一些年份收入同比下降，例如2016年。过去十年的平均年收入增长率为10%，但当我们考虑到2011年和2012年非常强劲的增长推动了这一增长时，假设苹果未来每年也将增长10%可能不太合理。投资者还应该考虑到，公司规模越大，保持高增长率就越困难。然而，这并不意味着苹果的收入增长将放缓至零。</blockquote></p><p></p><p> On the back of price increases for its products and the potential for market share gains in&nbsp;high-growth countries such as China, where more and more people will be able to buy Apple's higher-priced products, it seems reasonable to assume that Apple will generate at least some growth from its core businesses. Add in growth in the services segment - people use their phones more and more, which should lead to higher app spending - and consider the potential for new product launches (although I assume none will be as massive as the iPhone), and Apple should be able to grow its business at a solid pace. I personally assume that a 5%-7% revenue growth rate could be a realistic estimate for the coming years, although some readers will of course have different opinions.</p><p><blockquote>在苹果产品价格上涨以及在中国等高增长国家市场份额增长潜力的背景下，越来越多的人将能够购买苹果价格更高的产品，似乎有理由假设苹果将至少从其核心业务中产生一些增长。再加上服务领域的增长——人们越来越多地使用手机，这应该会导致应用程序支出增加——并考虑新产品发布的潜力（尽管我认为没有一款产品会像 iPhone 那样大规模），苹果应该能够以坚实的速度发展其业务。我个人认为，未来几年5%-7%的收入增长率可能是一个现实的估计，尽管一些读者当然会有不同的看法。</blockquote></p><p> <b>Apple's shareholder returns</b></p><p><blockquote><b>苹果股东回报</b></blockquote></p><p> Apple has lowered its share count massively in the past, as shown above, and it is, I believe, reasonable to assume that the same will happen going forward. Over the last decade, Apple bought back 36% of its shares. If the same were to happen over the next decade, each remaining share's portion of the company's value would rise by 56%, or 4.6% annualized. Due to the fact that Apple's current valuation is significantly higher than its historic valuation, buybacks could be less impactful in the future, though. Apple has, for example, only reduced its share count by 2.6% over the last year.</p><p><blockquote>如上所示，苹果过去曾大幅降低其股票数量，我相信，有理由假设未来也会发生同样的情况。过去十年，苹果回购了 36% 的股份。如果未来十年发生同样的情况，每股剩余股份在公司价值中所占份额将增长 56%，即年化增长 4.6%。不过，由于苹果目前的估值明显高于其历史估值，回购在未来的影响可能会较小。例如，苹果去年仅将其股票数量减少了 2.6%。</blockquote></p><p> This is why I believe that the share count will not decline by another 36% over the coming decade. When we adjust that downward to 25%, this would result in a ~3% annual tailwind for Apple's growth when we look at per-share metrics, which are the deciding factor for Apple's share price growth. Combined with my 5%-7% business growth estimate, I thus assume that Apple will grow by 8%-10% on a per-share basis in the long term.</p><p><blockquote>这就是为什么我相信未来十年股份数量不会再下降36%。当我们将其向下调整至 25% 时，当我们查看每股指标时，这将为苹果的增长带来约 3% 的年度推动力，而每股指标是苹果股价增长的决定性因素。结合我 5%-7% 的业务增长预期，我因此假设苹果从长远来看每股将增长 8%-10%。</blockquote></p><p> <b>Apple's future valuation</b></p><p><blockquote><b>苹果未来估值</b></blockquote></p><p> AAPL has been valued in a very wide range in the past, seeing its shares trade for very low multiples at some points, whereas investors were willing to pay significantly more at other times:</p><p><blockquote>AAPL 过去的估值范围非常广泛，其股票交易倍数在某些时候非常低，而投资者则愿意在其他时候支付更高的价格：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/be5cb8bbc04ff0e0a13ee64f6f2bd90a\" tg-width=\"635\" tg-height=\"470\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> Shares could, five years ago, be bought for a very low 10x net earnings, which naturally was a great time to enter or expand positions. In late 2020, however, shares were trading for as much as 40x the company's net earnings, which seems like a quite high valuation. Right now, AAPL trades at 28x trailing earnings, and at around 24x forward profits. In the above chart, we also see the median earnings multiples over the last 3, 5, 7, and 10 years. It is pretty clear that Apple's valuation has expanded over the years, which is why the median values are higher for the shorter \"lookback\" periods. I do not believe that AAPL will trade at the 15.5x net earnings that it has traded at, on average, over the last decade, as this seems like a rather low valuation for a quality company like Apple with a strong brand, massive scale, great margins, and a fortress balance sheet. On the other hand, I also don't believe that Apple will trade at a 24-28x earnings multiple forever - for a company that generates solid but unspectacular business growth in the mid-single-digits, that seems quite expensive. This is especially true when we consider that interest rates will likely be higher a decade from now, which should pressure valuations for all equities, all else equal. I thus believe that a valuation of around 20x net earnings could be a reasonable estimate for 2031, which would be more or less in line with the 3-year median earnings multiple.</p><p><blockquote>五年前，可以以非常低的 10 倍净利润购买股票，这自然是进入或扩大头寸的好时机。然而，到 2020 年底，股价交易价格高达公司净利润的 40 倍，这似乎是一个相当高的估值。目前，AAPL 的历史市盈率为 28 倍，远期利润约为 24 倍。在上图中，我们还看到了过去 3 年、5 年、7 年和 10 年的中位数收益倍数。很明显，苹果的估值多年来一直在扩大，这就是为什么在较短的“回顾”期间，中值更高。我不相信 AAPL 的交易价格会达到过去十年平均净利润的 15.5 倍，因为对于苹果这样一家拥有强大品牌、庞大规模、巨大利润和堡垒资产负债表的优质公司来说，这似乎是一个相当低的估值。另一方面，我也不相信苹果会永远以 24-28 倍的市盈率进行交易——对于一家以中个位数实现稳健但并不引人注目的业务增长的公司来说，这似乎相当昂贵。当我们考虑到十年后利率可能会更高时，情况尤其如此，这应该会给所有股票的估值带来压力，而其他条件相同。因此，我认为 2031 年净利润 20 倍左右的估值可能是一个合理的估计，这或多或少与 3 年市盈率中位数一致。</blockquote></p><p> <b>Is AAPL A Buy Or Sell Now</b></p><p><blockquote><b>AAPL 现在是买入还是卖出</b></blockquote></p><p> Starting our calculation with an EPS estimate of $5.15 for 2021 and assuming that this will grow by 7%-10% a year through 2031, we reach an EPS range of $10.10 to $13.40. Putting a 20x earnings multiple on that leads to a target price of around $200-$270/share. At the midpoint of around $235, shares would thus see gains of around 90% from the current level, or around 6.5% annualized. That surely is not a bad return, and when we add in the dividend, we would get to an annualized return of roughly 7%. This is, on the other hand, also not an outrageously great return, I believe.</p><p><blockquote>从 2021 年每股收益估计值 5.15 美元开始计算，并假设到 2031 年每年增长 7%-10%，我们的每股收益范围为 10.10 美元至 13.40 美元。将 20 倍市盈率放在该市盈率上，目标价约为每股 200-270 美元。因此，在 235 美元左右的中点，股价将比当前水平上涨约 90%，即年化上涨约 6.5%。这当然不是一个糟糕的回报，当我们加上股息时，我们将获得大约7%的年化回报率。另一方面，我相信这也不是一个惊人的大回报。</blockquote></p><p></p><p> AAPL has, I believe, significant upside potential over the next decade, but that should not be a large surprise - many companies will see significant growth over a time span this long. I personally am not too excited about a 7% expected long-term return. When we consider that shares do have considerable downside risk in the next 1-3 years if Apple's valuation declines, e.g. due to rising interest rates, it may be a better choice to stay on the sidelines for now. Long-term investors will likely not do badly when they buy shares at current levels, but they will likely also not do great. For now, I'd rate Apple a hold, and a potential buy if its valuation comes closer to the longer-term average. Those that are more optimistic about new product launches may disagree and favor buying here, but it could turn out that waiting for a better opportunity is the best choice here.</p><p><blockquote>我相信，AAPL 在未来十年具有巨大的上涨潜力，但这并不令人意外——许多公司将在这么长的时间内实现显着增长。我个人对7%的预期长期回报不太兴奋。当我们考虑到如果苹果估值下降（例如由于利率上升），未来1-3年内股价确实存在相当大的下行风险时，暂时保持观望可能是更好的选择。长期投资者在当前水平购买股票时可能不会表现不佳，但也可能不会表现得很好。目前，我将苹果评级为持有，如果其估值接近长期平均水平，则可能会买入。那些对新产品发布更乐观的人可能不同意，更喜欢在这里购买，但事实证明，等待更好的机会是这里的最佳选择。</blockquote></p><p> Summing it up, I'd say shares do have significant upside potential over the next decade, but the upside potential is not large enough to make me buy shares at current, elevated, valuations.</p><p><blockquote>总而言之，我想说股票在未来十年确实具有巨大的上涨潜力，但上涨潜力还不足以让我以当前较高的估值购买股票。</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>Where Will Apple Stock Be In 10 Years? What To Consider<blockquote>10年后苹果股票会在哪里？需要考虑什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\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\">\nWhere Will Apple Stock Be In 10 Years? What To Consider<blockquote>10年后苹果股票会在哪里？需要考虑什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-04 15:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Apple has been a great investment over the last decade, but the next decade may look quite different.</li>  <li>Apple has seen its growth slow down over the last decade, and it will likely not be a growth monster in the coming years, either.</li>  <li>Shares have ample long-term upside, but investors should consider the current valuation before jumping to decisions.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9f2ea192ed76d9772c2c6a820098faf5\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Photo by Paopano/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>苹果在过去十年中是一项伟大的投资，但未来十年可能会大不相同。</li><li>苹果在过去十年中增长放缓，未来几年也不太可能成为增长怪物。</li><li>股票具有充足的长期上涨空间，但投资者在做出决定之前应考虑当前的估值。</li></ul><p class=\"t-img-caption\"><span>摄影：Paopano/iStock 社论来自 Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Apple (AAPL) has been one of the best investments one could have made over the last decade. Over the next decade, its growth may not be the same, however. Yet, thanks to massive shareholder return programs and a move towards services, Apple's stock will likely still be significantly higher a decade from now - even though the current valuation is rather high.</p><p><blockquote>苹果 (AAPL) 是过去十年中最好的投资之一。然而，在接下来的十年里，它的增长可能不会一样。然而，由于大规模的股东回报计划和向服务业的转变，十年后苹果的股价可能仍会大幅上涨——尽管目前的估值相当高。</blockquote></p><p> <b>Apple Stock Price</b></p><p><blockquote><b>苹果股价</b></blockquote></p><p> Over the last decade, Apple Inc. has been a great investment:</p><p><blockquote>在过去十年中，苹果公司一直是一项伟大的投资：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5d29aa34bdbc5bab7d0730a4095954e6\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> Shares have returned 900% in those ten years, before dividends, for a compounded annual return of approximately 26%, easily trouncing the returns of the broad market during that time frame. Importantly, shares have risen a lot more than the company's market capitalization, which grew by only 550% over the last decade. The difference can be explained by the company's large share repurchase programs, which have lowered the share count drastically over the last decade. The last decade, of course, was a highly successful period for Apple on a business basis, as the company benefited from the rise of smartphones while also having success with new products such as its Watch and tablets, which Apple more or less introduced as a new product category. Right now, shares trade for $125, up 57% over the last twelve months, but down 6% in 2021 to date. Following strong gains during 2020, shares seem to be in a consolidation pattern for now, which is not too much of a surprise, as Apple's valuation had expanded a lot in the recent past, and it seems that the company's business growth has to catch up to the recent share price increases now. The current consensus price target is $156, which implies an upside potential of 25%. Since there are no signs of shares leaving their current trading range right now, I personally do not think that Apple will breach $150 in the near term.</p><p><blockquote>在这十年中，扣除股息前的股票回报率为 900%，年复合回报率约为 26%，轻松超过了该时期大盘的回报率。重要的是，股价的涨幅远远超过了公司的市值，而公司的市值在过去十年中仅增长了 550%。这种差异可以用该公司的大规模股票回购计划来解释，该计划在过去十年中大幅降低了股票数量。当然，过去十年对苹果来说是一个非常成功的商业时期，因为该公司受益于智能手机的崛起，同时在手表和平板电脑等新产品方面也取得了成功，苹果或多或少地将其作为一个新的产品类别推出。目前，股价为 125 美元，比过去 12 个月上涨了 57%，但 2021 年迄今下跌了 6%。继2020年强劲上涨之后，股价目前似乎处于盘整模式，这并不奇怪，因为苹果的估值在最近的过去扩大了很多，而且该公司的业务增长似乎必须赶上最近的股价上涨。目前一致的目标价为 156 美元，这意味着上涨潜力为 25%。由于目前没有迹象表明股票会离开当前的交易区间，我个人认为苹果短期内不会突破150美元。</blockquote></p><p> <b>Where Will Apple Stock Be In 10 Years</b></p><p><blockquote><b>苹果股票10年后会在哪里</b></blockquote></p><p> Apple's stock price in 2031 is, of course, nothing that can be forecasted with any precision. As history has shown, again and again, it is not even possible to forecast share prices precisely over a much shorter period of time. It is, however, possible to craft scenarios to see where share prices could be in the future under certain conditions, to get a feel for what might be a reasonable expectation for the future.</p><p><blockquote>当然，2031年苹果的股价是无法精确预测的。历史一次又一次地表明，甚至不可能在更短的时间内准确预测股价。然而，可以制定情景，看看在特定条件下未来股价可能会处于什么位置，以了解对未来的合理预期。</blockquote></p><p> To craft one such scenario, we have to consider Apple's business growth, Apple's shareholder return program, and the valuation multiple that shares might trade at in the future.</p><p><blockquote>为了制定这样一个场景，我们必须考虑苹果的业务增长、苹果的股东回报计划以及股票未来可能交易的估值倍数。</blockquote></p><p> <b>Apple's business growth</b></p><p><blockquote><b>苹果的业务增长</b></blockquote></p><p> Apple Inc. has seen years of stronger growth and years of weaker growth in the past. This mostly can be explained by factors such as new product introductions, e.g. Watch or iPad, and by the strength of the respective current iPhone models, which see varying demand depending on the year. Other factors, such as economic growth or trade issues, play a role as well.</p><p><blockquote>苹果公司过去经历了几年的强劲增长和几年的疲软增长。这主要可以用新产品推出等因素来解释。手表或iPad，以及各自当前iPhone型号的实力，这些型号的需求因年份而异。其他因素，如经济增长或贸易问题，也起着一定的作用。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5b8bd8ef6cdaa13850c1380e870554c\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> Overall, revenues have grown by 154% over the last decade, but as we see in the above chart, revenue growth has been relatively uneven. During the early 2010s, Apple generated massive growth on the back of the iPhones \"road to victory\", whereas revenue growth declined to a much slower pace in the following years. There were even some years during which revenues declined on a year-over-year basis, such as 2016. The average annual revenue growth pace was 10% over the last decade, but when we factor in that this was lifted up by the very strong growth in 2011 and 2012, it may not be too reasonable to assume that Apple will grow by 10% a year in the future, too. Investors should also consider that maintaining a high growth rate becomes ever more difficult the larger a company gets. This does, however, not mean that Apple's revenue growth will slow down to zero.</p><p><blockquote>总体而言，过去十年收入增长了 154%，但正如我们在上图中看到的，收入增长相对不均衡。在2010年代初，苹果在iPhone“胜利之路”的支持下实现了巨大的增长，而在接下来的几年里，收入增长放缓得多。甚至有一些年份收入同比下降，例如2016年。过去十年的平均年收入增长率为10%，但当我们考虑到2011年和2012年非常强劲的增长推动了这一增长时，假设苹果未来每年也将增长10%可能不太合理。投资者还应该考虑到，公司规模越大，保持高增长率就越困难。然而，这并不意味着苹果的收入增长将放缓至零。</blockquote></p><p></p><p> On the back of price increases for its products and the potential for market share gains in&nbsp;high-growth countries such as China, where more and more people will be able to buy Apple's higher-priced products, it seems reasonable to assume that Apple will generate at least some growth from its core businesses. Add in growth in the services segment - people use their phones more and more, which should lead to higher app spending - and consider the potential for new product launches (although I assume none will be as massive as the iPhone), and Apple should be able to grow its business at a solid pace. I personally assume that a 5%-7% revenue growth rate could be a realistic estimate for the coming years, although some readers will of course have different opinions.</p><p><blockquote>在苹果产品价格上涨以及在中国等高增长国家市场份额增长潜力的背景下，越来越多的人将能够购买苹果价格更高的产品，似乎有理由假设苹果将至少从其核心业务中产生一些增长。再加上服务领域的增长——人们越来越多地使用手机，这应该会导致应用程序支出增加——并考虑新产品发布的潜力（尽管我认为没有一款产品会像 iPhone 那样大规模），苹果应该能够以坚实的速度发展其业务。我个人认为，未来几年5%-7%的收入增长率可能是一个现实的估计，尽管一些读者当然会有不同的看法。</blockquote></p><p> <b>Apple's shareholder returns</b></p><p><blockquote><b>苹果股东回报</b></blockquote></p><p> Apple has lowered its share count massively in the past, as shown above, and it is, I believe, reasonable to assume that the same will happen going forward. Over the last decade, Apple bought back 36% of its shares. If the same were to happen over the next decade, each remaining share's portion of the company's value would rise by 56%, or 4.6% annualized. Due to the fact that Apple's current valuation is significantly higher than its historic valuation, buybacks could be less impactful in the future, though. Apple has, for example, only reduced its share count by 2.6% over the last year.</p><p><blockquote>如上所示，苹果过去曾大幅降低其股票数量，我相信，有理由假设未来也会发生同样的情况。过去十年，苹果回购了 36% 的股份。如果未来十年发生同样的情况，每股剩余股份在公司价值中所占份额将增长 56%，即年化增长 4.6%。不过，由于苹果目前的估值明显高于其历史估值，回购在未来的影响可能会较小。例如，苹果去年仅将其股票数量减少了 2.6%。</blockquote></p><p> This is why I believe that the share count will not decline by another 36% over the coming decade. When we adjust that downward to 25%, this would result in a ~3% annual tailwind for Apple's growth when we look at per-share metrics, which are the deciding factor for Apple's share price growth. Combined with my 5%-7% business growth estimate, I thus assume that Apple will grow by 8%-10% on a per-share basis in the long term.</p><p><blockquote>这就是为什么我相信未来十年股份数量不会再下降36%。当我们将其向下调整至 25% 时，当我们查看每股指标时，这将为苹果的增长带来约 3% 的年度推动力，而每股指标是苹果股价增长的决定性因素。结合我 5%-7% 的业务增长预期，我因此假设苹果从长远来看每股将增长 8%-10%。</blockquote></p><p> <b>Apple's future valuation</b></p><p><blockquote><b>苹果未来估值</b></blockquote></p><p> AAPL has been valued in a very wide range in the past, seeing its shares trade for very low multiples at some points, whereas investors were willing to pay significantly more at other times:</p><p><blockquote>AAPL 过去的估值范围非常广泛，其股票交易倍数在某些时候非常低，而投资者则愿意在其他时候支付更高的价格：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/be5cb8bbc04ff0e0a13ee64f6f2bd90a\" tg-width=\"635\" tg-height=\"470\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> Shares could, five years ago, be bought for a very low 10x net earnings, which naturally was a great time to enter or expand positions. In late 2020, however, shares were trading for as much as 40x the company's net earnings, which seems like a quite high valuation. Right now, AAPL trades at 28x trailing earnings, and at around 24x forward profits. In the above chart, we also see the median earnings multiples over the last 3, 5, 7, and 10 years. It is pretty clear that Apple's valuation has expanded over the years, which is why the median values are higher for the shorter \"lookback\" periods. I do not believe that AAPL will trade at the 15.5x net earnings that it has traded at, on average, over the last decade, as this seems like a rather low valuation for a quality company like Apple with a strong brand, massive scale, great margins, and a fortress balance sheet. On the other hand, I also don't believe that Apple will trade at a 24-28x earnings multiple forever - for a company that generates solid but unspectacular business growth in the mid-single-digits, that seems quite expensive. This is especially true when we consider that interest rates will likely be higher a decade from now, which should pressure valuations for all equities, all else equal. I thus believe that a valuation of around 20x net earnings could be a reasonable estimate for 2031, which would be more or less in line with the 3-year median earnings multiple.</p><p><blockquote>五年前，可以以非常低的 10 倍净利润购买股票，这自然是进入或扩大头寸的好时机。然而，到 2020 年底，股价交易价格高达公司净利润的 40 倍，这似乎是一个相当高的估值。目前，AAPL 的历史市盈率为 28 倍，远期利润约为 24 倍。在上图中，我们还看到了过去 3 年、5 年、7 年和 10 年的中位数收益倍数。很明显，苹果的估值多年来一直在扩大，这就是为什么在较短的“回顾”期间，中值更高。我不相信 AAPL 的交易价格会达到过去十年平均净利润的 15.5 倍，因为对于苹果这样一家拥有强大品牌、庞大规模、巨大利润和堡垒资产负债表的优质公司来说，这似乎是一个相当低的估值。另一方面，我也不相信苹果会永远以 24-28 倍的市盈率进行交易——对于一家以中个位数实现稳健但并不引人注目的业务增长的公司来说，这似乎相当昂贵。当我们考虑到十年后利率可能会更高时，情况尤其如此，这应该会给所有股票的估值带来压力，而其他条件相同。因此，我认为 2031 年净利润 20 倍左右的估值可能是一个合理的估计，这或多或少与 3 年市盈率中位数一致。</blockquote></p><p> <b>Is AAPL A Buy Or Sell Now</b></p><p><blockquote><b>AAPL 现在是买入还是卖出</b></blockquote></p><p> Starting our calculation with an EPS estimate of $5.15 for 2021 and assuming that this will grow by 7%-10% a year through 2031, we reach an EPS range of $10.10 to $13.40. Putting a 20x earnings multiple on that leads to a target price of around $200-$270/share. At the midpoint of around $235, shares would thus see gains of around 90% from the current level, or around 6.5% annualized. That surely is not a bad return, and when we add in the dividend, we would get to an annualized return of roughly 7%. This is, on the other hand, also not an outrageously great return, I believe.</p><p><blockquote>从 2021 年每股收益估计值 5.15 美元开始计算，并假设到 2031 年每年增长 7%-10%，我们的每股收益范围为 10.10 美元至 13.40 美元。将 20 倍市盈率放在该市盈率上，目标价约为每股 200-270 美元。因此，在 235 美元左右的中点，股价将比当前水平上涨约 90%，即年化上涨约 6.5%。这当然不是一个糟糕的回报，当我们加上股息时，我们将获得大约7%的年化回报率。另一方面，我相信这也不是一个惊人的大回报。</blockquote></p><p></p><p> AAPL has, I believe, significant upside potential over the next decade, but that should not be a large surprise - many companies will see significant growth over a time span this long. I personally am not too excited about a 7% expected long-term return. When we consider that shares do have considerable downside risk in the next 1-3 years if Apple's valuation declines, e.g. due to rising interest rates, it may be a better choice to stay on the sidelines for now. Long-term investors will likely not do badly when they buy shares at current levels, but they will likely also not do great. For now, I'd rate Apple a hold, and a potential buy if its valuation comes closer to the longer-term average. Those that are more optimistic about new product launches may disagree and favor buying here, but it could turn out that waiting for a better opportunity is the best choice here.</p><p><blockquote>我相信，AAPL 在未来十年具有巨大的上涨潜力，但这并不令人意外——许多公司将在这么长的时间内实现显着增长。我个人对7%的预期长期回报不太兴奋。当我们考虑到如果苹果估值下降（例如由于利率上升），未来1-3年内股价确实存在相当大的下行风险时，暂时保持观望可能是更好的选择。长期投资者在当前水平购买股票时可能不会表现不佳，但也可能不会表现得很好。目前，我将苹果评级为持有，如果其估值接近长期平均水平，则可能会买入。那些对新产品发布更乐观的人可能不同意，更喜欢在这里购买，但事实证明，等待更好的机会是这里的最佳选择。</blockquote></p><p> Summing it up, I'd say shares do have significant upside potential over the next decade, but the upside potential is not large enough to make me buy shares at current, elevated, valuations.</p><p><blockquote>总而言之，我想说股票在未来十年确实具有巨大的上涨潜力，但上涨潜力还不足以让我以当前较高的估值购买股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4432703-apple-stock-in-10-years\">seekingalpha</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://seekingalpha.com/article/4432703-apple-stock-in-10-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122373606","content_text":"Summary\n\nApple has been a great investment over the last decade, but the next decade may look quite different.\nApple has seen its growth slow down over the last decade, and it will likely not be a growth monster in the coming years, either.\nShares have ample long-term upside, but investors should consider the current valuation before jumping to decisions.\n\nPhoto by Paopano/iStock Editorial via Getty Images\nArticle Thesis\nApple (AAPL) has been one of the best investments one could have made over the last decade. Over the next decade, its growth may not be the same, however. Yet, thanks to massive shareholder return programs and a move towards services, Apple's stock will likely still be significantly higher a decade from now - even though the current valuation is rather high.\nApple Stock Price\nOver the last decade, Apple Inc. has been a great investment:\nData by YCharts\nShares have returned 900% in those ten years, before dividends, for a compounded annual return of approximately 26%, easily trouncing the returns of the broad market during that time frame. Importantly, shares have risen a lot more than the company's market capitalization, which grew by only 550% over the last decade. The difference can be explained by the company's large share repurchase programs, which have lowered the share count drastically over the last decade. The last decade, of course, was a highly successful period for Apple on a business basis, as the company benefited from the rise of smartphones while also having success with new products such as its Watch and tablets, which Apple more or less introduced as a new product category. Right now, shares trade for $125, up 57% over the last twelve months, but down 6% in 2021 to date. Following strong gains during 2020, shares seem to be in a consolidation pattern for now, which is not too much of a surprise, as Apple's valuation had expanded a lot in the recent past, and it seems that the company's business growth has to catch up to the recent share price increases now. The current consensus price target is $156, which implies an upside potential of 25%. Since there are no signs of shares leaving their current trading range right now, I personally do not think that Apple will breach $150 in the near term.\nWhere Will Apple Stock Be In 10 Years\nApple's stock price in 2031 is, of course, nothing that can be forecasted with any precision. As history has shown, again and again, it is not even possible to forecast share prices precisely over a much shorter period of time. It is, however, possible to craft scenarios to see where share prices could be in the future under certain conditions, to get a feel for what might be a reasonable expectation for the future.\nTo craft one such scenario, we have to consider Apple's business growth, Apple's shareholder return program, and the valuation multiple that shares might trade at in the future.\nApple's business growth\nApple Inc. has seen years of stronger growth and years of weaker growth in the past. This mostly can be explained by factors such as new product introductions, e.g. Watch or iPad, and by the strength of the respective current iPhone models, which see varying demand depending on the year. Other factors, such as economic growth or trade issues, play a role as well.\nData by YCharts\nOverall, revenues have grown by 154% over the last decade, but as we see in the above chart, revenue growth has been relatively uneven. During the early 2010s, Apple generated massive growth on the back of the iPhones \"road to victory\", whereas revenue growth declined to a much slower pace in the following years. There were even some years during which revenues declined on a year-over-year basis, such as 2016. The average annual revenue growth pace was 10% over the last decade, but when we factor in that this was lifted up by the very strong growth in 2011 and 2012, it may not be too reasonable to assume that Apple will grow by 10% a year in the future, too. Investors should also consider that maintaining a high growth rate becomes ever more difficult the larger a company gets. This does, however, not mean that Apple's revenue growth will slow down to zero.\nOn the back of price increases for its products and the potential for market share gains in high-growth countries such as China, where more and more people will be able to buy Apple's higher-priced products, it seems reasonable to assume that Apple will generate at least some growth from its core businesses. Add in growth in the services segment - people use their phones more and more, which should lead to higher app spending - and consider the potential for new product launches (although I assume none will be as massive as the iPhone), and Apple should be able to grow its business at a solid pace. I personally assume that a 5%-7% revenue growth rate could be a realistic estimate for the coming years, although some readers will of course have different opinions.\nApple's shareholder returns\nApple has lowered its share count massively in the past, as shown above, and it is, I believe, reasonable to assume that the same will happen going forward. Over the last decade, Apple bought back 36% of its shares. If the same were to happen over the next decade, each remaining share's portion of the company's value would rise by 56%, or 4.6% annualized. Due to the fact that Apple's current valuation is significantly higher than its historic valuation, buybacks could be less impactful in the future, though. Apple has, for example, only reduced its share count by 2.6% over the last year.\nThis is why I believe that the share count will not decline by another 36% over the coming decade. When we adjust that downward to 25%, this would result in a ~3% annual tailwind for Apple's growth when we look at per-share metrics, which are the deciding factor for Apple's share price growth. Combined with my 5%-7% business growth estimate, I thus assume that Apple will grow by 8%-10% on a per-share basis in the long term.\nApple's future valuation\nAAPL has been valued in a very wide range in the past, seeing its shares trade for very low multiples at some points, whereas investors were willing to pay significantly more at other times:\nData by YCharts\nShares could, five years ago, be bought for a very low 10x net earnings, which naturally was a great time to enter or expand positions. In late 2020, however, shares were trading for as much as 40x the company's net earnings, which seems like a quite high valuation. Right now, AAPL trades at 28x trailing earnings, and at around 24x forward profits. In the above chart, we also see the median earnings multiples over the last 3, 5, 7, and 10 years. It is pretty clear that Apple's valuation has expanded over the years, which is why the median values are higher for the shorter \"lookback\" periods. I do not believe that AAPL will trade at the 15.5x net earnings that it has traded at, on average, over the last decade, as this seems like a rather low valuation for a quality company like Apple with a strong brand, massive scale, great margins, and a fortress balance sheet. On the other hand, I also don't believe that Apple will trade at a 24-28x earnings multiple forever - for a company that generates solid but unspectacular business growth in the mid-single-digits, that seems quite expensive. This is especially true when we consider that interest rates will likely be higher a decade from now, which should pressure valuations for all equities, all else equal. I thus believe that a valuation of around 20x net earnings could be a reasonable estimate for 2031, which would be more or less in line with the 3-year median earnings multiple.\nIs AAPL A Buy Or Sell Now\nStarting our calculation with an EPS estimate of $5.15 for 2021 and assuming that this will grow by 7%-10% a year through 2031, we reach an EPS range of $10.10 to $13.40. Putting a 20x earnings multiple on that leads to a target price of around $200-$270/share. At the midpoint of around $235, shares would thus see gains of around 90% from the current level, or around 6.5% annualized. That surely is not a bad return, and when we add in the dividend, we would get to an annualized return of roughly 7%. This is, on the other hand, also not an outrageously great return, I believe.\nAAPL has, I believe, significant upside potential over the next decade, but that should not be a large surprise - many companies will see significant growth over a time span this long. I personally am not too excited about a 7% expected long-term return. When we consider that shares do have considerable downside risk in the next 1-3 years if Apple's valuation declines, e.g. due to rising interest rates, it may be a better choice to stay on the sidelines for now. Long-term investors will likely not do badly when they buy shares at current levels, but they will likely also not do great. For now, I'd rate Apple a hold, and a potential buy if its valuation comes closer to the longer-term average. Those that are more optimistic about new product launches may disagree and favor buying here, but it could turn out that waiting for a better opportunity is the best choice here.\nSumming it up, I'd say shares do have significant upside potential over the next decade, but the upside potential is not large enough to make me buy shares at current, elevated, valuations.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803729241,"gmtCreate":1627465516083,"gmtModify":1633764746552,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Buy of cos~","listText":"Buy of cos~","text":"Buy of cos~","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/803729241","repostId":"2154362911","repostType":4,"isVote":1,"tweetType":1,"viewCount":853,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123691068,"gmtCreate":1624419333154,"gmtModify":1634006372790,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"We need it up for Mara riot!&nbsp;","listText":"We need it up for Mara riot!&nbsp;","text":"We need it up for Mara riot!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/123691068","repostId":"2145069164","repostType":4,"isVote":1,"tweetType":1,"viewCount":612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197110628,"gmtCreate":1621433005264,"gmtModify":1634189193981,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Market up pls&nbsp;","listText":"Market up pls&nbsp;","text":"Market up pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/197110628","repostId":"1103552481","repostType":4,"repost":{"id":"1103552481","kind":"news","pubTimestamp":1621428667,"share":"https://www.laohunote.com/m/news/1103552481?lang=zh_CN&edition=full","pubTime":"2021-05-19 20:51","market":"us","language":"en","title":"3 Things to Watch for in the Fed Minutes Today<blockquote>今天美联储会议纪要中值得关注的 3 件事</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103552481","media":"Barrons","summary":"The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but inv","content":"<p>The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.</p><p><blockquote>美联储最新的会议纪要预计今天不会引起太大轰动，但投资者仍应关注一些不同的主题。</blockquote></p><p> The minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:&nbsp; A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a&nbsp;surprisingly weak jobs report&nbsp;and a&nbsp;stronger-than-expected consumer inflation report, for example.</p><p><blockquote>会议纪要将于今天下午 2 点公布，美联储观察人士在解读会议纪要的意义时可能会面临比平时更大的挑战：自 4 月 28 日至 29 日会议以来，经济发生了很大变化。例如，接下来的几周带来了令人惊讶的疲软就业报告和强于预期的消费者通胀报告。</blockquote></p><p> And unlike&nbsp;last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April.&nbsp;The 10-year yield has&nbsp;dropped to 1.64%&nbsp;from 1.74% on March 31.</p><p><blockquote>与上个月的会议不同的是，没有出现引人注目的国债抛售来引起官员们的注意。尽管经济数据显示4月份价格压力更大，但收益率的急剧攀升在3月底有所减弱。10年期国债收益率已从3月31日的1.74%降至1.64%。</blockquote></p><p> Yet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.</p><p><blockquote>然而，这份文件可能仍能提供一些关于央行观点的线索。自上次会议以来，官员们也提供了更多关于政策的观点。值得注意的是，美联储副主席理查德·克拉里达在周一的一次会议上发表讲话，并讨论了最近的一些经济数据点。</blockquote></p><p> Here’s what strategists expect out of the meeting today, and what Clarida said about the topics:</p><p><blockquote>以下是战略家们对今天会议的期待，以及克拉里达对这些议题的看法：</blockquote></p><p> <b>“Attuned and Attentive” to “Transitory” Inflation?</b></p><p><blockquote><b>“调整并关注” “暂时性 ”通货膨胀？</b></blockquote></p><p> One popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.</p><p><blockquote>包括美联储主席杰罗姆-鲍威尔（Jerome Powell）在内的美联储官员中流行的一句话是，预计今年春季通胀将出现 “暂时性 ”上升，这主要与美国经济在去年大流行病导致经济活动急剧放缓后重新开放有关。</blockquote></p><p> Mizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.</p><p><blockquote>瑞穗经济学家史蒂文-里奇乌托（Steven Ricchiuto）和亚历克斯-佩勒（Alex Pelle）在 5 月 18 日的一份报告中写道，他们预计会议纪要中 “会多次提到'暂时'的价格压力”。他们还强调，4月份消费者价格涨幅最大的许多行业都是需求受疫情打击最大的行业，如酒店和机票。“他们补充说：”到目前为止，[这]证实了美联储的想法。</blockquote></p><p> Yet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:&nbsp; That the central bank would be “attuned and attentive” to any data showing higher price pressures.</p><p><blockquote>然而，在周一的会议上，克拉里达似乎在重复一种不同类型的通胀保证：央行将 “调整并关注 ”任何显示物价压力上升的数据。</blockquote></p><p> “In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”</p><p><blockquote>“在 CPI 报告中，[重新开放]显然给物价带来了上行压力。现在我们的基线观点是，这大部分可能是暂时的，但我们必须调整并关注即将到来的数据，”他说。“我们任务的关键要素是价格稳定，而价格稳定的一个重要组成部分是稳固的通胀预期。如果我们看到价格或通胀面临上行压力，有可能推高通胀预期，我毫不怀疑我们会利用我们的工具来应对这种情况。”</blockquote></p><p> <b>Taper Timeline</b></p><p><blockquote><b>锥度时间轴</b></blockquote></p><p> Investors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.</p><p><blockquote>投资者还将关注央行是否会就何时开始削减每月 1200 亿美元的债券购买规模提供任何额外指导。鲍威尔曾表示，美联储希望在缩减购债规模之前，在实现充分就业和长期平均通胀率2%的目标方面取得 “实质性进一步进展”，但官员们并未提供太多额外指导。</blockquote></p><p> Most on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases&nbsp;late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.</p><p><blockquote>华尔街大多数人预计美联储将在今年夏末或秋季讨论减少或缩减购买量的长期计划。NatWest Markets 在周一的一份报告中表示，预计美联储将在 9 月份开始讨论缩减购买规模，并实际上从明年开始放缓债券购买步伐。</blockquote></p><p> So any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.</p><p><blockquote>因此，最新会议纪要中任何更详细的讨论都可能让投资者感到意外，并可能对市场产生影响。</blockquote></p><p> <b>Labor-Market Outlook</b></p><p><blockquote><b>劳动力市场前景</b></blockquote></p><p> One key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.</p><p><blockquote>决定美联储购买债券（和其他便利措施）前景的一个关键因素是劳动力市场的复苏。在令人失望的四月份就业报告之后，这仍然悬而未决。</blockquote></p><p> Still, there is a chance investors could find more context on one of their questions in the minutes:&nbsp; How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?</p><p><blockquote>尽管如此，投资者还是有机会在会议纪要中找到他们的一个问题的更多背景：多少改善足以让美联储开始撤回宽松政策？换句话说，“实质性的进一步进展”是什么意思？</blockquote></p><p> Before the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.</p><p><blockquote>在 4 月份劳动力市场传来令人失望的消息之前，华尔街大多数人都预计本月就业岗位创造将强劲增长，这是鲍威尔所说的在美国实现美联储目标 “进一步实质性进展 ”之前，需要实现 “一连串 ”强劲复苏的又一步。这可能促使官员们讨论在央行开始退缩之前，复苏需要走多远。</blockquote></p><p> Clarida discussed the April employment report on Monday as well.</p><p><blockquote>克拉里达周一还讨论了4月份的就业报告。</blockquote></p><p></p><p> “What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”</p><p><blockquote>“他说：”四月份的就业报告告诉我，我们在劳动力市场，尤其是服务业实现供需平衡的方式可能需要一些时间，而且随着工人重返工作岗位，价格可能会受到一些上行压力，因此我们必须调整并关注这一数据流。“根据 4 月份的就业报告，我们还没有取得实质性的进一步进展，但随着数据的公布，我们作为一个委员会将不得不对此进行评估，并最终做出判断”。</blockquote></p><p> Ultimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:&nbsp; Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the&nbsp;economic data has been so volatile&nbsp;during the reopening that the picture could change significantly by the time the Fed meets again in June.</p><p><blockquote>归根结底，未来劳动力市场数据的重要性暗示着美联储会议纪要的更广泛启示： 未来几个月的经济数据可能是美联储行动及其消除市场和经济宽松计划的最终仲裁者。重新开放期间的经济数据非常不稳定，到美联储 6 月份再次开会时，情况可能会发生重大变化。</blockquote></p><p> That means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.</p><p><blockquote>这意味着投资者将不得不观望一段时间，以了解央行计划何时开始退缩。</blockquote></p><p> “We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”</p><p><blockquote>“蒙特利尔银行策略师伊恩-林根（Ian Lyngen）写道：”我们不愿将此看涨期权为任何形式的均衡--相反，随着宏观预期的进一步细化，这更有可能证明是一种暂时的持有模式。“显然，我们的问题多于答案”。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Things to Watch for in the Fed Minutes Today<blockquote>今天美联储会议纪要中值得关注的 3 件事</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\">\n3 Things to Watch for in the Fed Minutes Today<blockquote>今天美联储会议纪要中值得关注的 3 件事</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-19 20:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.</p><p><blockquote>美联储最新的会议纪要预计今天不会引起太大轰动，但投资者仍应关注一些不同的主题。</blockquote></p><p> The minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:&nbsp; A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a&nbsp;surprisingly weak jobs report&nbsp;and a&nbsp;stronger-than-expected consumer inflation report, for example.</p><p><blockquote>会议纪要将于今天下午 2 点公布，美联储观察人士在解读会议纪要的意义时可能会面临比平时更大的挑战：自 4 月 28 日至 29 日会议以来，经济发生了很大变化。例如，接下来的几周带来了令人惊讶的疲软就业报告和强于预期的消费者通胀报告。</blockquote></p><p> And unlike&nbsp;last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April.&nbsp;The 10-year yield has&nbsp;dropped to 1.64%&nbsp;from 1.74% on March 31.</p><p><blockquote>与上个月的会议不同的是，没有出现引人注目的国债抛售来引起官员们的注意。尽管经济数据显示4月份价格压力更大，但收益率的急剧攀升在3月底有所减弱。10年期国债收益率已从3月31日的1.74%降至1.64%。</blockquote></p><p> Yet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.</p><p><blockquote>然而，这份文件可能仍能提供一些关于央行观点的线索。自上次会议以来，官员们也提供了更多关于政策的观点。值得注意的是，美联储副主席理查德·克拉里达在周一的一次会议上发表讲话，并讨论了最近的一些经济数据点。</blockquote></p><p> Here’s what strategists expect out of the meeting today, and what Clarida said about the topics:</p><p><blockquote>以下是战略家们对今天会议的期待，以及克拉里达对这些议题的看法：</blockquote></p><p> <b>“Attuned and Attentive” to “Transitory” Inflation?</b></p><p><blockquote><b>“调整并关注” “暂时性 ”通货膨胀？</b></blockquote></p><p> One popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.</p><p><blockquote>包括美联储主席杰罗姆-鲍威尔（Jerome Powell）在内的美联储官员中流行的一句话是，预计今年春季通胀将出现 “暂时性 ”上升，这主要与美国经济在去年大流行病导致经济活动急剧放缓后重新开放有关。</blockquote></p><p> Mizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.</p><p><blockquote>瑞穗经济学家史蒂文-里奇乌托（Steven Ricchiuto）和亚历克斯-佩勒（Alex Pelle）在 5 月 18 日的一份报告中写道，他们预计会议纪要中 “会多次提到'暂时'的价格压力”。他们还强调，4月份消费者价格涨幅最大的许多行业都是需求受疫情打击最大的行业，如酒店和机票。“他们补充说：”到目前为止，[这]证实了美联储的想法。</blockquote></p><p> Yet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:&nbsp; That the central bank would be “attuned and attentive” to any data showing higher price pressures.</p><p><blockquote>然而，在周一的会议上，克拉里达似乎在重复一种不同类型的通胀保证：央行将 “调整并关注 ”任何显示物价压力上升的数据。</blockquote></p><p> “In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”</p><p><blockquote>“在 CPI 报告中，[重新开放]显然给物价带来了上行压力。现在我们的基线观点是，这大部分可能是暂时的，但我们必须调整并关注即将到来的数据，”他说。“我们任务的关键要素是价格稳定，而价格稳定的一个重要组成部分是稳固的通胀预期。如果我们看到价格或通胀面临上行压力，有可能推高通胀预期，我毫不怀疑我们会利用我们的工具来应对这种情况。”</blockquote></p><p> <b>Taper Timeline</b></p><p><blockquote><b>锥度时间轴</b></blockquote></p><p> Investors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.</p><p><blockquote>投资者还将关注央行是否会就何时开始削减每月 1200 亿美元的债券购买规模提供任何额外指导。鲍威尔曾表示，美联储希望在缩减购债规模之前，在实现充分就业和长期平均通胀率2%的目标方面取得 “实质性进一步进展”，但官员们并未提供太多额外指导。</blockquote></p><p> Most on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases&nbsp;late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.</p><p><blockquote>华尔街大多数人预计美联储将在今年夏末或秋季讨论减少或缩减购买量的长期计划。NatWest Markets 在周一的一份报告中表示，预计美联储将在 9 月份开始讨论缩减购买规模，并实际上从明年开始放缓债券购买步伐。</blockquote></p><p> So any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.</p><p><blockquote>因此，最新会议纪要中任何更详细的讨论都可能让投资者感到意外，并可能对市场产生影响。</blockquote></p><p> <b>Labor-Market Outlook</b></p><p><blockquote><b>劳动力市场前景</b></blockquote></p><p> One key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.</p><p><blockquote>决定美联储购买债券（和其他便利措施）前景的一个关键因素是劳动力市场的复苏。在令人失望的四月份就业报告之后，这仍然悬而未决。</blockquote></p><p> Still, there is a chance investors could find more context on one of their questions in the minutes:&nbsp; How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?</p><p><blockquote>尽管如此，投资者还是有机会在会议纪要中找到他们的一个问题的更多背景：多少改善足以让美联储开始撤回宽松政策？换句话说，“实质性的进一步进展”是什么意思？</blockquote></p><p> Before the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.</p><p><blockquote>在 4 月份劳动力市场传来令人失望的消息之前，华尔街大多数人都预计本月就业岗位创造将强劲增长，这是鲍威尔所说的在美国实现美联储目标 “进一步实质性进展 ”之前，需要实现 “一连串 ”强劲复苏的又一步。这可能促使官员们讨论在央行开始退缩之前，复苏需要走多远。</blockquote></p><p> Clarida discussed the April employment report on Monday as well.</p><p><blockquote>克拉里达周一还讨论了4月份的就业报告。</blockquote></p><p></p><p> “What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”</p><p><blockquote>“他说：”四月份的就业报告告诉我，我们在劳动力市场，尤其是服务业实现供需平衡的方式可能需要一些时间，而且随着工人重返工作岗位，价格可能会受到一些上行压力，因此我们必须调整并关注这一数据流。“根据 4 月份的就业报告，我们还没有取得实质性的进一步进展，但随着数据的公布，我们作为一个委员会将不得不对此进行评估，并最终做出判断”。</blockquote></p><p> Ultimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:&nbsp; Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the&nbsp;economic data has been so volatile&nbsp;during the reopening that the picture could change significantly by the time the Fed meets again in June.</p><p><blockquote>归根结底，未来劳动力市场数据的重要性暗示着美联储会议纪要的更广泛启示： 未来几个月的经济数据可能是美联储行动及其消除市场和经济宽松计划的最终仲裁者。重新开放期间的经济数据非常不稳定，到美联储 6 月份再次开会时，情况可能会发生重大变化。</blockquote></p><p> That means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.</p><p><blockquote>这意味着投资者将不得不观望一段时间，以了解央行计划何时开始退缩。</blockquote></p><p> “We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”</p><p><blockquote>“蒙特利尔银行策略师伊恩-林根（Ian Lyngen）写道：”我们不愿将此看涨期权为任何形式的均衡--相反，随着宏观预期的进一步细化，这更有可能证明是一种暂时的持有模式。“显然，我们的问题多于答案”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/inflation-jobs-and-more-to-watch-for-in-todays-fed-minutes-release-51621421812?mod=hp_LEAD_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/inflation-jobs-and-more-to-watch-for-in-todays-fed-minutes-release-51621421812?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103552481","content_text":"The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.\nThe minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:  A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a surprisingly weak jobs report and a stronger-than-expected consumer inflation report, for example.\nAnd unlike last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April. The 10-year yield has dropped to 1.64% from 1.74% on March 31.\nYet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.\nHere’s what strategists expect out of the meeting today, and what Clarida said about the topics:\n“Attuned and Attentive” to “Transitory” Inflation?\nOne popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.\nMizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.\nYet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:  That the central bank would be “attuned and attentive” to any data showing higher price pressures.\n“In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”\nTaper Timeline\nInvestors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.\nMost on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.\nSo any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.\nLabor-Market Outlook\nOne key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.\nStill, there is a chance investors could find more context on one of their questions in the minutes:  How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?\nBefore the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.\nClarida discussed the April employment report on Monday as well.\n“What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”\nUltimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:  Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the economic data has been so volatile during the reopening that the picture could change significantly by the time the Fed meets again in June.\nThat means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.\n“We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":586,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814573893,"gmtCreate":1630851917712,"gmtModify":1631891118009,"author":{"id":"3572917065505731","authorId":"3572917065505731","name":"Vyy","avatar":"https://static.tigerbbs.com/adb01ad8c723a7e324a9c137f73fba4b","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572917065505731","idStr":"3572917065505731"},"themes":[],"title":"","htmlText":"Comment&nbsp;","listText":"Comment&nbsp;","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814573893","repostId":"1157895022","repostType":4,"repost":{"id":"1157895022","kind":"news","pubTimestamp":1630810619,"share":"https://www.laohunote.com/m/news/1157895022?lang=zh_CN&edition=full","pubTime":"2021-09-05 10:56","market":"us","language":"en","title":"Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个量化系统战胜市场，该系统非常看好创纪录高点的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157895022","media":"MarketWatch","summary":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do ","content":"<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯-霍华德（Vance Howard）的 HCM 战术增长基金（Tactical Growwth Fund）会让你在谨慎的情况下进出股市。到目前为止，他的计算机科学家团队的策略已经取得了成效。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市上收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>这是每个人的梦想，对吧？投资者万斯-霍华德认为他找到了答案。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>佐治亚州罗斯威尔的霍华德资本管理公司的霍华德和他的一小群计算机程序员。，有一个量化系统，发布巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的 HCM 战术增长基金 HCMGX,+0.35% 在过去五年中以年化计算比其罗素 1000 基准指数和大型混合基金类别高出 8.5-10.4 个百分点。这不是一个小壮举，不仅仅是因为它必须克服2.22%的费用。战胜市场根本不容易。他的 HCM 股息板块 PlusHCMQX,-0.05%) 和 HCM 收入 PlusHCMLX,+0.30% 基金表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详细介绍。（其中：潜在的长期表现不佳和定期税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化者从不分享他们专有系统的所有细节，但霍华德分享了很多细节，你会看到的。这位德克萨斯州牧场主有很多基于 “马感 ”的好建议--考虑到他对市场有着极具感染力的热情，以及他三十年的职业牧场主经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12 只交易所交易基金 (ETF) 和 4 只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化注定了我们会失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以在可能很长一段时间没有食物之前储存卡路里。但在市场上，出于恐惧和贪婪的情绪行事总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们也相信与人群在一起会带来安全。如果你是稀树草原上的斑马，那么如果你单独行动，就更有可能被捕食者叼走。这里的问题是成为人群的一部分——以及人群心理——把我们愚蠢到纯粹的情感层面。这就是为什么人群中的人们会做他们自己永远不会做的可怕事情。你有多聪明并不重要。当你加入人群时，你会失去很多智商点。基本情绪占据主导地位。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做好，你必须抵消这些趋势。“霍华德说：”个人投资者和基金经理犯的最大错误之一就是情绪化。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：建立一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>要驱除情绪，要有一个系统。“霍华德说：”不要事后猜测。“这让你不会让大流行病或阿富汗把你吓出市场”。他评级了他的系统HCM-BuyLine。它基本上是一个动量和趋势跟踪系统——在市场上通常效果很好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔 500SPX（-0.03%）或道琼斯工业平均指数（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌 6.5%，他就再卖出 35%。他很少使用100%的现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“他说：”如果买盘是积极的，无论如何我们都会长期持有。“我们让数学来决定，就能把所有的情绪都排除在外”。</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多内容见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统也必须告诉你什么时候回来。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“他说：”这就是大多数人搞砸的地方。“他们退出了市场，却不知道什么时候才能重新进来”。当他的自定义指数连续六个交易日交易高于其移动平均线时，HCM-BuyLine 会发出买入信号，然后继续交易高于这六天的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个能准确预测评级市场顶部或底部的系统。相反，买入线让霍华德在 85% 的时间里远离下跌市场，在 85% 的好时机里则保持下跌。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“他说：”如果我们能坚持不懈地做到这一点，我们就能获得更高的回报，生活压力也会更小。“在糟糕的录音带中全神贯注并不好玩”。</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定会让他离开。他经常买入这些回调。快速回归是有意义的，因为底部的复苏往往会很快发生。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“霍华德说：”HCM-BuyLine 消除了整个过程中的所有情绪。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要与磁带对抗</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂-茨威格（Marty Zweig）经典著作《华尔街的胜利》（Winning on Wall Street）的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“霍华德同意道：”你必须站在市场的正确一边。“如果你试图在糟糕的市场中进行多头交易，那将是痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“他说：”有时候，不赔钱才是你想要的。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要因为市场创下新高--比如现在--就变得谨慎。你应该喜欢新高，因为这是市场力量可能会持续的迹象。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第4课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德并不使用衍生品、掉期或指数期权等深奥的工具。他甚至不交易外国股票或货币。这对个人投资者来说是令人耳目一新的，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“他说：”你不必交易疯狂的东西。“你可以交易普通的 ETF，击败所有人”。</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做多。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-BuyLine 非常积极。我们百分之百同意，”霍华德说。“市场正在扩大。这变得非常令人兴奋。我们认为市场不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有的现金都在观望。“如果科维德有任何缓解，我们可能会看到一场大反弹。我们最终可能会迎来一个伟大的秋季[赛季]。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德还使用动量指标来选择股票和 ETF。对于行业，他倾向于以下几种。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过 iShares US HealthcareIYH,-0.04% 和 ProShares Ultra Health CareRXL,+0.12% ETF 进行交易。他越来越看好生物技术，他通过 iShares Biotechnology ETFIBB 投资生物技术，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过 iShares US Consumer ServicesIYC 交易的非必需消费品， -0.30%， 以及通过 US Global JetsJETS 交易的航空公司， -1.17%.他还喜欢通过 Invesco QQQ TrustQQQ,+0.31%、iShares US TechnologyYYW,+0.50% 和 iShares SemiconductorSOXX,+0.75% 进行科技投资。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他通过 Vanguard Small-Cap Growth Index FundVBK,+0.07% 看好小盘股。以及通过 SPDR Bloomberg Barclays Convertible Securities CWB,+0.64% 和 iShares Convertible BondICVT,+0.37% 看好可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个股，他特别提到了科技股中的微软MSFT（-0.00%）和苹果APL（+0.42%），以及亚马逊.comAMZN（+0.43%）和特斯拉TSLA（+0.16%）。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>还可以考虑霍华德的两只 ETF： HCM Defender 100 IndexQQH,+0.62%，HCM Defender 500 IndexLGH,+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌 1%-3% 时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的 HCM 战术增长基金自 2015 年推出以来，曾连续两年表现不佳，表现在 1.5% 至 8.8% 之间。随后，该基金强势回归，实现了上述非常积极的五年业绩。投资他的系统可能需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，包括沃伦·巴菲特在内的每个经理都可能经历一段时间的表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“他说：”我们正处于胜算之中。“即使在赔率游戏中，你也可能有一两手烂牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年为140%。这意味着山姆大叔在好年景里得到了很大的削减。因此，如果您购买霍华德的基金，您可能需要在税收保护账户中购买。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个量化系统战胜市场，该系统非常看好创纪录高点的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBeat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个量化系统战胜市场，该系统非常看好创纪录高点的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-05 10:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯-霍华德（Vance Howard）的 HCM 战术增长基金（Tactical Growwth Fund）会让你在谨慎的情况下进出股市。到目前为止，他的计算机科学家团队的策略已经取得了成效。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市上收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>这是每个人的梦想，对吧？投资者万斯-霍华德认为他找到了答案。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>佐治亚州罗斯威尔的霍华德资本管理公司的霍华德和他的一小群计算机程序员。，有一个量化系统，发布巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的 HCM 战术增长基金 HCMGX,+0.35% 在过去五年中以年化计算比其罗素 1000 基准指数和大型混合基金类别高出 8.5-10.4 个百分点。这不是一个小壮举，不仅仅是因为它必须克服2.22%的费用。战胜市场根本不容易。他的 HCM 股息板块 PlusHCMQX,-0.05%) 和 HCM 收入 PlusHCMLX,+0.30% 基金表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详细介绍。（其中：潜在的长期表现不佳和定期税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化者从不分享他们专有系统的所有细节，但霍华德分享了很多细节，你会看到的。这位德克萨斯州牧场主有很多基于 “马感 ”的好建议--考虑到他对市场有着极具感染力的热情，以及他三十年的职业牧场主经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12 只交易所交易基金 (ETF) 和 4 只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化注定了我们会失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以在可能很长一段时间没有食物之前储存卡路里。但在市场上，出于恐惧和贪婪的情绪行事总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们也相信与人群在一起会带来安全。如果你是稀树草原上的斑马，那么如果你单独行动，就更有可能被捕食者叼走。这里的问题是成为人群的一部分——以及人群心理——把我们愚蠢到纯粹的情感层面。这就是为什么人群中的人们会做他们自己永远不会做的可怕事情。你有多聪明并不重要。当你加入人群时，你会失去很多智商点。基本情绪占据主导地位。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做好，你必须抵消这些趋势。“霍华德说：”个人投资者和基金经理犯的最大错误之一就是情绪化。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：建立一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>要驱除情绪，要有一个系统。“霍华德说：”不要事后猜测。“这让你不会让大流行病或阿富汗把你吓出市场”。他评级了他的系统HCM-BuyLine。它基本上是一个动量和趋势跟踪系统——在市场上通常效果很好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔 500SPX（-0.03%）或道琼斯工业平均指数（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌 6.5%，他就再卖出 35%。他很少使用100%的现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“他说：”如果买盘是积极的，无论如何我们都会长期持有。“我们让数学来决定，就能把所有的情绪都排除在外”。</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多内容见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统也必须告诉你什么时候回来。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“他说：”这就是大多数人搞砸的地方。“他们退出了市场，却不知道什么时候才能重新进来”。当他的自定义指数连续六个交易日交易高于其移动平均线时，HCM-BuyLine 会发出买入信号，然后继续交易高于这六天的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个能准确预测评级市场顶部或底部的系统。相反，买入线让霍华德在 85% 的时间里远离下跌市场，在 85% 的好时机里则保持下跌。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“他说：”如果我们能坚持不懈地做到这一点，我们就能获得更高的回报，生活压力也会更小。“在糟糕的录音带中全神贯注并不好玩”。</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定会让他离开。他经常买入这些回调。快速回归是有意义的，因为底部的复苏往往会很快发生。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“霍华德说：”HCM-BuyLine 消除了整个过程中的所有情绪。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要与磁带对抗</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂-茨威格（Marty Zweig）经典著作《华尔街的胜利》（Winning on Wall Street）的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“霍华德同意道：”你必须站在市场的正确一边。“如果你试图在糟糕的市场中进行多头交易，那将是痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“他说：”有时候，不赔钱才是你想要的。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要因为市场创下新高--比如现在--就变得谨慎。你应该喜欢新高，因为这是市场力量可能会持续的迹象。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第4课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德并不使用衍生品、掉期或指数期权等深奥的工具。他甚至不交易外国股票或货币。这对个人投资者来说是令人耳目一新的，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“他说：”你不必交易疯狂的东西。“你可以交易普通的 ETF，击败所有人”。</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做多。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-BuyLine 非常积极。我们百分之百同意，”霍华德说。“市场正在扩大。这变得非常令人兴奋。我们认为市场不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有的现金都在观望。“如果科维德有任何缓解，我们可能会看到一场大反弹。我们最终可能会迎来一个伟大的秋季[赛季]。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德还使用动量指标来选择股票和 ETF。对于行业，他倾向于以下几种。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过 iShares US HealthcareIYH,-0.04% 和 ProShares Ultra Health CareRXL,+0.12% ETF 进行交易。他越来越看好生物技术，他通过 iShares Biotechnology ETFIBB 投资生物技术，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过 iShares US Consumer ServicesIYC 交易的非必需消费品， -0.30%， 以及通过 US Global JetsJETS 交易的航空公司， -1.17%.他还喜欢通过 Invesco QQQ TrustQQQ,+0.31%、iShares US TechnologyYYW,+0.50% 和 iShares SemiconductorSOXX,+0.75% 进行科技投资。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他通过 Vanguard Small-Cap Growth Index FundVBK,+0.07% 看好小盘股。以及通过 SPDR Bloomberg Barclays Convertible Securities CWB,+0.64% 和 iShares Convertible BondICVT,+0.37% 看好可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个股，他特别提到了科技股中的微软MSFT（-0.00%）和苹果APL（+0.42%），以及亚马逊.comAMZN（+0.43%）和特斯拉TSLA（+0.16%）。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>还可以考虑霍华德的两只 ETF： HCM Defender 100 IndexQQH,+0.62%，HCM Defender 500 IndexLGH,+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌 1%-3% 时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的 HCM 战术增长基金自 2015 年推出以来，曾连续两年表现不佳，表现在 1.5% 至 8.8% 之间。随后，该基金强势回归，实现了上述非常积极的五年业绩。投资他的系统可能需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，包括沃伦·巴菲特在内的每个经理都可能经历一段时间的表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“他说：”我们正处于胜算之中。“即使在赔率游戏中，你也可能有一两手烂牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年为140%。这意味着山姆大叔在好年景里得到了很大的削减。因此，如果您购买霍华德的基金，您可能需要在税收保护账户中购买。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157895022","content_text":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.\n\nImagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.\nThat’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.\nHoward and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.\nHis HCM Tactical Growth Fund HCMGX,+0.35%beats its Russell 1000 benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.\nThere are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?\nSo-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.\nHere are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.\nLesson #1: Don’t be emotional\nIt’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.\nLikewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.\nTo do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”\nLesson #2: Have a system and stick to it\nTo exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.\nThe HCM-BuyLine basically works like this. First, rather than use the S&P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.\nWhen the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.\n“If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”\nRight now, it’s bullish. (More on this below.)\nYour system also has to tell you when to get back in.\n“That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.\nYou don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.\n“If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”\nHis system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.\n“The HCM-BuyLine takes all the emotion out of the process,” says Howard.\nLesson #3: Don’t fight the tape\nThis concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”\n“You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”\nIn other words, don’t try to be a hero.\n“Sometimes, not losing money is where you want to be,” he says.\nLikewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.\nLesson #4: Keep it simple\nAs you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.\n“You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”\nLesson #5: How to trade the current market\nFirst, be long.\n“The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”\nOne bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”\nHoward uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.\nHe likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.\nHe likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and iShares SemiconductorSOXX,+0.75%.\nHe likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.\nAs for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.\nAlso consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.\nHe prefers to add to holdings on 1%-3% dips.\nA few drawbacks\nHis HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.\nEvery manager, including Warren Buffett, can have a stretch of underperformance, says Howard.\n“We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”\nAnother challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}