lucasleejh的个人主页 - 老虎社区

lucasleejh

lucasleejh

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2021-12-18

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@MillionaireTiger:Stock Prediction: The Share Price of Tesla📈

2021-11-04

Great ariticle, would you like to share it?

@小虎活动:[Halloween Game] Trade or Treat!

2021-10-31

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@小虎活动:[Halloween Game] Trade or Treat!

2021-10-29

Great ariticle, would you like to share it?

@小虎活动:[Halloween Game] Trade or Treat!

2021-10-29

Great ariticle, would you like to share it?

@小虎活动:[Halloween Game] Trade or Treat!

2021-08-09

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2021-06-18

Interesting

Adobe Getting Lift From Economic Reopening Post-Pandemic<blockquote>Adobe 从疫情后经济重新开放中获得提振</blockquote>

2021-06-16

Nice

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2021-06-13

Interesting

The Fed's Sneaky Plot<blockquote>美联储的阴险阴谋</blockquote>

2021-06-13

Nice

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2021-06-12

Interesting

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2021-06-12

Nice

Investor, Trader, Speculator: Which One Are You?<blockquote>投资者、交易者、投机者：你是哪一个？</blockquote>

2021-06-12

Nice

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2021-06-12

Nice

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2021-05-30

Pls like and comment

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2021-05-25

Like and comment thanks

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2021-05-19

Nice

4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace 直接上市前需要了解的 4 件事</blockquote>

2021-05-18

Nice

JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流在香港首次公开募股，筹集高达34亿美元</blockquote>

2021-05-17

Nice

IPO Preview: SquareSpace, Procure Technologies And Oatly Are This Week's Offerings<blockquote>IPO 预览：SquareSpace、Procure Technologies 和 Oatly 是本周的产品</blockquote>

2021-05-14

Nice

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Welcome&nbsp;you&nbsp;join&nbsp;our&nbsp;\"stock&nbsp;prediction\"&nbsp;column!&nbsp;✨✨This&nbsp;column&nbsp;will&nbsp;update&nbsp;every&nbsp;Monday&nbsp;and&nbsp;Friday!&nbsp;Follow&nbsp;my&nbsp;steps&nbsp;to&nbsp;win&nbsp;Tiger&nbsp;Coins！🤑🤑🤑 Let's&nbsp;start&nbsp;the&nbsp;game! <a target=\"_blank\" href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a> 1.&nbsp;Predict&nbsp;the&nbsp;closing&nbsp;price&nbsp;of&nbsp;<a target=\"_blank\" href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a> on&nbsp;Dec&nbsp;17,&nbsp;Friday. 2.&nbsp;Please&nbsp;round&nbsp;your&nbsp;answer&nbsp;to&nbsp;the&nbsp;whole&nbsp;number,&nbsp;for&nbsp;example,&nbsp;round&nbsp;$323.57&nbsp;to&nbsp;$324. 3.&nbsp;Leave&nbsp;your&nbsp;answer&nbsp;in&nbsp;the&nbsp;comment,&nbsp;the&nbsp;first&nbsp;10&nbsp;correct&amp;n","listText":"Hey! Welcome&nbsp;you&nbsp;join&nbsp;our&nbsp;\"stock&nbsp;prediction\"&nbsp;column!&nbsp;✨✨This&nbsp;column&nbsp;will&nbsp;update&nbsp;every&nbsp;Monday&nbsp;and&nbsp;Friday!&nbsp;Follow&nbsp;my&nbsp;steps&nbsp;to&nbsp;win&nbsp;Tiger&nbsp;Coins！🤑🤑🤑 Let's&nbsp;start&nbsp;the&nbsp;game! <a target=\"_blank\" href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a> 1.&nbsp;Predict&nbsp;the&nbsp;closing&nbsp;price&nbsp;of&nbsp;<a target=\"_blank\" href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a> on&nbsp;Dec&nbsp;17,&nbsp;Friday. 2.&nbsp;Please&nbsp;round&nbsp;your&nbsp;answer&nbsp;to&nbsp;the&nbsp;whole&nbsp;number,&nbsp;for&nbsp;example,&nbsp;round&nbsp;$323.57&nbsp;to&nbsp;$324. 3.&nbsp;Leave&nbsp;your&nbsp;answer&nbsp;in&nbsp;the&nbsp;comment,&nbsp;the&nbsp;first&nbsp;10&nbsp;correct&amp;n","text":"Hey! Welcome you join our \"stock prediction\" column! ✨✨This column will update every Monday and Friday! Follow my steps to win Tiger Coins！🤑🤑🤑 Let's start the game! $Tesla Motors(TSLA)$ 1. Predict the closing price of $Tesla Motors(TSLA)$ on Dec 17, Friday. 2. Please round your answer to the whole number, for example, round $323.57 to $324. 3. Leave your answer in the comment, the first 10 correct&n","images":[{"img":"https://static.tigerbbs.com/0dff2cfd0d6ab3214cf9496b7322b8d5","width":"-1","height":"-1"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/604665122","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"subType":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":3407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848638263,"gmtCreate":1635993394470,"gmtModify":1635993394604,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848638263","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"36984908995200","idStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2276,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":840400125,"gmtCreate":1635666436838,"gmtModify":1635666436913,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/840400125","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"36984908995200","idStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2585,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857345445,"gmtCreate":1635511314963,"gmtModify":1635511315100,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857345445","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"36984908995200","idStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1942,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857341778,"gmtCreate":1635511139982,"gmtModify":1635511140080,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857341778","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"36984908995200","idStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2506,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":898240395,"gmtCreate":1628504455117,"gmtModify":1633746624912,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898240395","repostId":"2157492988","repostType":4,"isVote":1,"tweetType":1,"viewCount":2125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162937890,"gmtCreate":1624030853910,"gmtModify":1634023812509,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/162937890","repostId":"2144774740","repostType":4,"repost":{"id":"2144774740","kind":"highlight","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1624030096,"share":"https://www.laohunote.com/m/news/2144774740?lang=zh_CN&edition=full","pubTime":"2021-06-18 23:28","market":"us","language":"en","title":"Adobe Getting Lift From Economic Reopening Post-Pandemic<blockquote>Adobe 从疫情后经济重新开放中获得提振</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2144774740","media":"Investors","summary":"Software giant Adobe is benefiting as the economy reopens following the Covid-19 pandemic, a senior executive says.","content":"<p>Software giant <b><a href=\"https://laohu8.com/S/ADBE\">Adobe</a></b> is benefiting as the economy reopens as the Covid-19 pandemic wanes, a senior executive says. The company's beat-and-raise quarterly report provided proof of that. ADBE stock jumped on Friday.</p><p><blockquote>软件巨头<b><a href=\"https://laohu8.com/S/ADBE\">土坯</a></b>一位高级管理人员表示，随着 Covid-19 大流行的减弱，经济重新开放将受益。该公司的击败加薪季度报告提供了证据。ADBE 股价周五上涨。</blockquote></p><p> The maker of digital media and marketing software late Thursday reported fiscal second-quarter earnings that easily topped expectations. Adobe also guided above views for the current quarter.</p><p><blockquote>这家数字媒体和营销软件制造商周四晚间公布的第二财季收益轻松超出预期。Adobe 还指导了本季度的上述观点。</blockquote></p><p> The San Jose, Calif.-based company earned an adjusted $3.03 a share on sales of $3.84 billion in the quarter ended June 4. On a year-over-year basis, Adobe earnings rose 24% while sales climbed 23%.</p><p><blockquote>这家总部位于加利福尼亚州圣何塞的公司调整后每股收益为 3.03 美元，截至 6 月 4 日的季度销售额为 38.4 亿美元。与去年同期相比，Adobe 盈利增长 24%，销售额增长 23%。</blockquote></p><p> For the current quarter, Adobe expects to earn an adjusted $3 a share, up 17%, on sales of $3.88 billion, up 20%.</p><p><blockquote>本季度，Adobe 预计调整后每股收益为 3 美元，增长 17%，销售额为 38.8 亿美元，增长 20%。</blockquote></p><p> <h2>ADBE Stock Rises After Earnings Report</h2> In morning trading on the stock market today, ADBE stock advanced 2.2%, near 563.35. Earlier in the session, ADBE stock notched a record high 570.</p><p><blockquote><h2>收益报告发布后 ADBE 股价上涨</h2>今天股市早盘交易中，ADBE 股价上涨 2.2%，接近 563.35。盘中早些时候，ADBE 股价创下 570 点的历史新高。</blockquote></p><p> \"All three of our businesses — Creative Cloud, Document Cloud and <a href=\"https://laohu8.com/S/EXP.AU\">Experience</a> Cloud — just killed it this quarter with excellent performance,\" Chief Financial Officer John Murphy told Investor's Business Daily. \"Content creation and customer experience engagement in personalized ways are resonating across all of our businesses. And it's really driving the momentum and acceleration in the business.\"</p><p><blockquote>“我们的所有三个业务——创意云、文档云和<a href=\"https://laohu8.com/S/EXP.AU\">经验</a>云——本季度以出色的表现杀死了它，”首席财务官约翰·墨菲告诉《投资者商业日报》。“以个性化的方式创建内容和客户体验参与正在我们所有的业务中引起共鸣。它确实推动了业务的势头和加速。”</blockquote></p><p> That momentum will continue in the company's seasonally weaker fiscal third quarter, Murphy said. The current quarter includes the summer months of June, July and August.</p><p><blockquote>墨菲表示，这种势头将在公司季节性疲软的第三财季继续下去。本季度包括夏季的六月、七月和八月。</blockquote></p><p> \"The macroeconomic stability is giving a lot of enterprises confidence to invest again,\" Murphy said. \"Companies are prioritizing digital transformation.\"</p><p><blockquote>“宏观经济的稳定给了许多企业再次投资的信心，”墨菲说。“企业正在优先考虑数字化转型。”</blockquote></p><p> The reopening of the economy and return to offices after the pandemic should provide a tailwind for Adobe's business, he said.</p><p><blockquote>他说，疫情后经济的重新开放和办公室的重返应该会为 Adobe 的业务提供推动力。</blockquote></p><p> <h2>Analysts Raise Price Targets On Adobe Stock</h2> At least 15 Wall Street analysts raised their price targets on ADBE stock after the earnings report.</p><p><blockquote><h2>分析师上调 Adobe 股票目标价</h2>财报发布后，至少 15 名华尔街分析师上调了 ADBE 股票的目标价。</blockquote></p><p> Mizuho Securities analyst Gregg Moskowitz reiterated his buy rating on ADBE stock and upped his price target to 640 from 600.</p><p><blockquote>瑞穗证券分析师 Gregg Moskowitz 重申了对 ADBE 股票的买入评级，并将目标价从 600 点上调至 640 点。</blockquote></p><p> \"Adobe's expansive portfolio of software solutions has made it the gold standard in content creation, consumption, and collaboration,\" Moskowitz said in a note to clients. \"Adobe is very well positioned to benefit from digital transformation with its comprehensive end-to-end offering that differentiates it from competitors.\"</p><p><blockquote>莫斯科维茨在给客户的一份报告中表示：“Adobe 广泛的软件解决方案组合使其成为内容创建、消费和协作的黄金标准。”“Adobe 完全有能力从数字化转型中受益，其全面的端到端产品使其与竞争对手区分开来。”</blockquote></p><p> On June 11, ADBE stock broke out of a 40-week&nbsp;consolidation period&nbsp;at a&nbsp;buy point&nbsp;of 536.98, according to&nbsp;IBD MarketSmith charts.</p><p><blockquote>根据 IBD MarketSmith 图表，6 月 11 日，ADBE 股票以 536.98 的买入点突破了 40 周盘整期。</blockquote></p><p> However, IBD Leaderboard analysis offered investors an earlier buy point of 525.54 from a cup base within the larger consolidation pattern.</p><p><blockquote>然而，IBD 排行榜分析为投资者提供了 525.54 的早期买入点，该买入点来自较大的盘整模式中的杯子基数。</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>Adobe Getting Lift From Economic Reopening Post-Pandemic<blockquote>Adobe 从疫情后经济重新开放中获得提振</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; 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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\">\nAdobe Getting Lift From Economic Reopening Post-Pandemic<blockquote>Adobe 从疫情后经济重新开放中获得提振</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time smaller\">2021-06-18 23:28</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Software giant <b><a href=\"https://laohu8.com/S/ADBE\">Adobe</a></b> is benefiting as the economy reopens as the Covid-19 pandemic wanes, a senior executive says. The company's beat-and-raise quarterly report provided proof of that. ADBE stock jumped on Friday.</p><p><blockquote>软件巨头<b><a href=\"https://laohu8.com/S/ADBE\">土坯</a></b>一位高级管理人员表示，随着 Covid-19 大流行的减弱，经济重新开放将受益。该公司的击败加薪季度报告提供了证据。ADBE 股价周五上涨。</blockquote></p><p> The maker of digital media and marketing software late Thursday reported fiscal second-quarter earnings that easily topped expectations. Adobe also guided above views for the current quarter.</p><p><blockquote>这家数字媒体和营销软件制造商周四晚间公布的第二财季收益轻松超出预期。Adobe 还指导了本季度的上述观点。</blockquote></p><p> The San Jose, Calif.-based company earned an adjusted $3.03 a share on sales of $3.84 billion in the quarter ended June 4. On a year-over-year basis, Adobe earnings rose 24% while sales climbed 23%.</p><p><blockquote>这家总部位于加利福尼亚州圣何塞的公司调整后每股收益为 3.03 美元，截至 6 月 4 日的季度销售额为 38.4 亿美元。与去年同期相比，Adobe 盈利增长 24%，销售额增长 23%。</blockquote></p><p> For the current quarter, Adobe expects to earn an adjusted $3 a share, up 17%, on sales of $3.88 billion, up 20%.</p><p><blockquote>本季度，Adobe 预计调整后每股收益为 3 美元，增长 17%，销售额为 38.8 亿美元，增长 20%。</blockquote></p><p> <h2>ADBE Stock Rises After Earnings Report</h2> In morning trading on the stock market today, ADBE stock advanced 2.2%, near 563.35. Earlier in the session, ADBE stock notched a record high 570.</p><p><blockquote><h2>收益报告发布后 ADBE 股价上涨</h2>今天股市早盘交易中，ADBE 股价上涨 2.2%，接近 563.35。盘中早些时候，ADBE 股价创下 570 点的历史新高。</blockquote></p><p> \"All three of our businesses — Creative Cloud, Document Cloud and <a href=\"https://laohu8.com/S/EXP.AU\">Experience</a> Cloud — just killed it this quarter with excellent performance,\" Chief Financial Officer John Murphy told Investor's Business Daily. \"Content creation and customer experience engagement in personalized ways are resonating across all of our businesses. And it's really driving the momentum and acceleration in the business.\"</p><p><blockquote>“我们的所有三个业务——创意云、文档云和<a href=\"https://laohu8.com/S/EXP.AU\">经验</a>云——本季度以出色的表现杀死了它，”首席财务官约翰·墨菲告诉《投资者商业日报》。“以个性化的方式创建内容和客户体验参与正在我们所有的业务中引起共鸣。它确实推动了业务的势头和加速。”</blockquote></p><p> That momentum will continue in the company's seasonally weaker fiscal third quarter, Murphy said. The current quarter includes the summer months of June, July and August.</p><p><blockquote>墨菲表示，这种势头将在公司季节性疲软的第三财季继续下去。本季度包括夏季的六月、七月和八月。</blockquote></p><p> \"The macroeconomic stability is giving a lot of enterprises confidence to invest again,\" Murphy said. \"Companies are prioritizing digital transformation.\"</p><p><blockquote>“宏观经济的稳定给了许多企业再次投资的信心，”墨菲说。“企业正在优先考虑数字化转型。”</blockquote></p><p> The reopening of the economy and return to offices after the pandemic should provide a tailwind for Adobe's business, he said.</p><p><blockquote>他说，疫情后经济的重新开放和办公室的重返应该会为 Adobe 的业务提供推动力。</blockquote></p><p> <h2>Analysts Raise Price Targets On Adobe Stock</h2> At least 15 Wall Street analysts raised their price targets on ADBE stock after the earnings report.</p><p><blockquote><h2>分析师上调 Adobe 股票目标价</h2>财报发布后，至少 15 名华尔街分析师上调了 ADBE 股票的目标价。</blockquote></p><p> Mizuho Securities analyst Gregg Moskowitz reiterated his buy rating on ADBE stock and upped his price target to 640 from 600.</p><p><blockquote>瑞穗证券分析师 Gregg Moskowitz 重申了对 ADBE 股票的买入评级，并将目标价从 600 点上调至 640 点。</blockquote></p><p> \"Adobe's expansive portfolio of software solutions has made it the gold standard in content creation, consumption, and collaboration,\" Moskowitz said in a note to clients. \"Adobe is very well positioned to benefit from digital transformation with its comprehensive end-to-end offering that differentiates it from competitors.\"</p><p><blockquote>莫斯科维茨在给客户的一份报告中表示：“Adobe 广泛的软件解决方案组合使其成为内容创建、消费和协作的黄金标准。”“Adobe 完全有能力从数字化转型中受益，其全面的端到端产品使其与竞争对手区分开来。”</blockquote></p><p> On June 11, ADBE stock broke out of a 40-week&nbsp;consolidation period&nbsp;at a&nbsp;buy point&nbsp;of 536.98, according to&nbsp;IBD MarketSmith charts.</p><p><blockquote>根据 IBD MarketSmith 图表，6 月 11 日，ADBE 股票以 536.98 的买入点突破了 40 周盘整期。</blockquote></p><p> However, IBD Leaderboard analysis offered investors an earlier buy point of 525.54 from a cup base within the larger consolidation pattern.</p><p><blockquote>然而，IBD 排行榜分析为投资者提供了 525.54 的早期买入点，该买入点来自较大的盘整模式中的杯子基数。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ADBE":"Adobe"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144774740","content_text":"Software giant Adobe is benefiting as the economy reopens as the Covid-19 pandemic wanes, a senior executive says. The company's beat-and-raise quarterly report provided proof of that. ADBE stock jumped on Friday.\nThe maker of digital media and marketing software late Thursday reported fiscal second-quarter earnings that easily topped expectations. Adobe also guided above views for the current quarter.\nThe San Jose, Calif.-based company earned an adjusted $3.03 a share on sales of $3.84 billion in the quarter ended June 4. On a year-over-year basis, Adobe earnings rose 24% while sales climbed 23%.\nFor the current quarter, Adobe expects to earn an adjusted $3 a share, up 17%, on sales of $3.88 billion, up 20%.\nADBE Stock Rises After Earnings Report\nIn morning trading on the stock market today, ADBE stock advanced 2.2%, near 563.35. Earlier in the session, ADBE stock notched a record high 570.\n\"All three of our businesses — Creative Cloud, Document Cloud and Experience Cloud — just killed it this quarter with excellent performance,\" Chief Financial Officer John Murphy told Investor's Business Daily. \"Content creation and customer experience engagement in personalized ways are resonating across all of our businesses. And it's really driving the momentum and acceleration in the business.\"\nThat momentum will continue in the company's seasonally weaker fiscal third quarter, Murphy said. The current quarter includes the summer months of June, July and August.\n\"The macroeconomic stability is giving a lot of enterprises confidence to invest again,\" Murphy said. \"Companies are prioritizing digital transformation.\"\nThe reopening of the economy and return to offices after the pandemic should provide a tailwind for Adobe's business, he said.\nAnalysts Raise Price Targets On Adobe Stock\nAt least 15 Wall Street analysts raised their price targets on ADBE stock after the earnings report.\nMizuho Securities analyst Gregg Moskowitz reiterated his buy rating on ADBE stock and upped his price target to 640 from 600.\n\"Adobe's expansive portfolio of software solutions has made it the gold standard in content creation, consumption, and collaboration,\" Moskowitz said in a note to clients. \"Adobe is very well positioned to benefit from digital transformation with its comprehensive end-to-end offering that differentiates it from competitors.\"\nOn June 11, ADBE stock broke out of a 40-week consolidation period at a buy point of 536.98, according to IBD MarketSmith charts.\nHowever, IBD Leaderboard analysis offered investors an earlier buy point of 525.54 from a cup base within the larger consolidation pattern.","news_type":1,"symbols_score_info":{"ADBE":0.9}},"isVote":1,"tweetType":1,"viewCount":3398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163028871,"gmtCreate":1623854080093,"gmtModify":1634027013571,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163028871","repostId":"2143879474","repostType":4,"isVote":1,"tweetType":1,"viewCount":2909,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186574041,"gmtCreate":1623515330283,"gmtModify":1634032196954,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186574041","repostId":"1187301815","repostType":4,"repost":{"id":"1187301815","kind":"news","pubTimestamp":1623415058,"share":"https://www.laohunote.com/m/news/1187301815?lang=zh_CN&edition=full","pubTime":"2021-06-11 20:37","market":"us","language":"en","title":"The Fed's Sneaky Plot<blockquote>美联储的阴险阴谋</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1187301815","media":"Zerohedge","summary":"For the past 22 years, every time the stock market whimpered, wheezed or whined, the Federal Reserve","content":"<p>For the past 22 years, every time the stock market whimpered, wheezed or whined, the Federal Reserve rushed to soothe the spoiled crybaby.</p><p><blockquote>在过去的22年里，每当股市呜咽、喘息或发牢骚时，美联储就会赶紧安抚这个被宠坏的爱哭鬼。</blockquote></p><p> There are two consequential results of the&nbsp;<i>Fed as savior</i>:</p><p><blockquote>有两个重要的结果<i>美联储作为救世主</i>:</blockquote></p><p>   1.   <b>The Fed has perfected&nbsp;</b>   <b><i>moral hazard</i></b>   <b>:</b>everyone from the money manager betting billions to the punters gambling their stimmy money is absolutely confident I can’t lose because the Fed will always push the market higher.  What happens when participants are confident they can’t possibly lose? They make ever-riskier and ever-larger bets. The entire nation is in the grip of a moral hazard mania, all based on the confidence that the Fed will always push every market higher—always, without fail.</p><p><blockquote>1.<b>美联储已经完善</b><b><i>道德风险</i></b><b>:</b>从押注数十亿美元的资金经理到赌徒，每个人都绝对相信我不会输，因为美联储总是会推高市场。当参与者确信自己不可能输时会发生什么？他们下的赌注越来越大，越来越大。整个国家都陷入了道德风险狂热之中，这一切都是基于这样一种信心：美联储将永远推高每个市场——永远不会失败。</blockquote></p><p>   2.   <b>Organic (i.e. non-manipulated) market forces have been extinguished.</b>There is now only one consequential force, the Fed. All markets are now 100% dependent on the Fed responding to every bleat from every punter who’s recklessly risky bet is about to go bad.  The Fed is now the perfect union of quasi-religious savior and&nbsp;<i>Helicopter Parent</i>: oh dear, our little darling got high and crashed the Porsche? Quick, let’s save our precious market from any consequences!</p><p><blockquote>2.<b>有机的（即非操纵的）市场力量已经消失。</b>现在只有一股重要力量，那就是美联储。现在，所有市场都 100% 依赖于美联储对每一个赌客的每一次抱怨做出回应，这些赌客的鲁莽冒险赌注即将失败。美联储现在是准宗教救世主和<i>直升机母机</i>哦，亲爱的，我们的小宝贝嗑药了，把保时捷撞坏了？快，让我们拯救我们宝贵的市场免受任何后果!</blockquote></p><p> <b>Every day, Fed speakers take to the pulpit to spew another sermon about the Fed’s god-like power and wisdom. The true believers soak up every word: golly-gee, the Fed is better than any god — it’s guaranteeing I can get rich if I just leverage up any bet in any market!</b></p><p><blockquote><b>每天，美联储发言人都会走上讲坛，再次宣讲美联储神一般的力量和智慧。真正的信徒们会吸收每一个字：天哪，美联储比任何神都强--它保证我只要在任何市场上加大赌注，就能发财!</b></blockquote></p><p> With a savior like the Fed, you don’t need a real economy or a real market - all you need is the assurance that the Fed will save every market from every consequence.</p><p><blockquote>有了美联储这样的救世主，你不需要真正的经济或真正的市场--你所需要的只是美联储将拯救每个市场免受每一个后果的保证。</blockquote></p><p> <b>The Point of Diminishing Returns</b></p><p><blockquote><b>收益递减点</b></blockquote></p><p> All this hubris is jolly while it lasts, but since risk cannot be dissipated, it can only be transferred, the Fed has transferred decades of fast-rising risk to the entire system. The entire system now rests on the Fed, a dependency that raises its own risks.</p><p><blockquote>所有这些傲慢在持续的时候是令人愉快的，但由于风险无法消散，只能转移，美联储已经将几十年来快速增长的风险转移到了整个系统。整个体系现在依赖于美联储，这种依赖增加了自身的风险。</blockquote></p><p> <b>By imposing moral hazard and crushing consequences, the Fed has stripped the entire financial system of self-correcting mechanisms. This is a surefire recipe for systemic failure and collapse.</b></p><p><blockquote><b>通过施加道德风险和毁灭性后果，美联储剥夺了整个金融体系的自我纠正机制。这是系统性失败和崩溃的万无一失的秘诀。</b></blockquote></p><p> There is no way to wean the system off its dependence on the Fed, and no way to restore organic market functions. The slightest reduction in the Fed’s spew of trillions will crash the market, because there is literally nothing holding it aloft but Fed spew — monetary and verbal.</p><p><blockquote>没有办法让这个体系摆脱对美联储的依赖，也没有办法恢复有机的市场功能。美联储数万亿美元的喷水量稍有减少，市场就会崩溃，因为除了美联储的喷水--货币和口头上--之外，没有什么能支撑市场。</blockquote></p><p> The problem with becoming 100% dependent on the Fed is any wobble will crash the system — and&nbsp;<i>diminishing returns</i>&nbsp;guarantee a wobble.</p><p><blockquote>100% 依赖美联储的问题在于，任何动摇都会使系统崩溃——而且<i>回报递减</i>保证摇摆。</blockquote></p><p> <b>The system’s sensitivity to the Fed’s spew of trillions of dollars and claptrap preaching is diminishing,</b>which is why the Fed has moved from spewing hundreds of billions to trillions, and why Fed speakers who we once heard from once a month are now out in force every single day.</p><p><blockquote><b>整个系统对美联储数万亿美元的喷水和哗众取宠的说教的敏感度正在降低、</b>这就是为什么美联储从喷出数千亿美元转向数万亿美元，也是为什么我们曾经每月听到一次的美联储发言人现在每天都在生效。</blockquote></p><p> Remarkably, few anticipate any consequence from the Fed’s perfection of moral hazard and the system’s 100% dependence on the Fed’s spew even as diminishing returns gnaw away at the efficacy of the Fed’s ever more grandiose policies and pronouncements.</p><p><blockquote>值得注意的是，很少有人预料到美联储完美的道德风险和该系统 100% 依赖美联储的吐槽会产生任何后果，即使回报率不断下降，美联储日益宏大的政策和声明的效力也在不断蚕食。</blockquote></p><p> <b>If you wanted to design a system guaranteed to collapse in a putrid heap, you’d make moral hazard ubiquitous and you’d make the system 100% dependent on a hubris-soaked faux savior.</b></p><p><blockquote><b>如果你想设计一个保证会在腐烂的垃圾堆中崩溃的系统，你就会让道德风险无处不在，你就会让这个系统 100% 依赖于一个傲慢自大的假救世主。</b></blockquote></p><p> Hey, that describes America’s economy and financial system perfectly. But now I want to explore something about the Fed you’ve probably never considered before…</p><p><blockquote>嘿，这完美地描述了美国的经济和金融体系。但现在我想探讨一些你可能从未考虑过的关于美联储的事情..</blockquote></p><p> <b>The Fed’s Official and Unofficial Mandates</b></p><p><blockquote><b>美联储的官方和非官方任务</b></blockquote></p><p> There are two standard-issue narratives about the Federal Reserve’s agenda: the Fed’s official narrative is that the Fed’s mandate is to keep inflation under control while promoting full employment.</p><p><blockquote>关于美联储的议程有两种标准说法： 美联储的官方说法是，美联储的任务是在促进充分就业的同时控制通胀。</blockquote></p><p> <b>The unofficial mandate that’s obvious to all is to prop up assets, especially the stock market, which has become the Fed’s preferred&nbsp;</b><b><i>signifier of prosperity and the rightness/goodness of Fed policies.</i></b></p><p><blockquote><b>所有人都清楚的非官方任务是支撑资产，尤其是已成为美联储首选的股票市场。</b><b><i>繁荣的象征和美联储政策的正确性/正确性。</i></b></blockquote></p><p> The other narrative results from “following the money”: the Fed is owned by private-sector banks, and so behind the curtain of happy-talk (full employment, blah-blah-blah), the Fed’s only real agenda is to further enrich banks and too big to fail/jail financiers — something it has managed to do with remarkable success.</p><p><blockquote>另一种说法来自 “追随金钱 ”： 美联储由私营部门银行所有，因此在高谈阔论（充分就业、诸如此类）的幕后，美联储唯一真正的议程就是进一步丰富银行和大到不能倒/监禁金融家--而美联储在这方面取得了显著的成功。</blockquote></p><p> That the Fed inflated the 1999-2000 dot-com bubble and the 2005-2008 housing bubble is undeniable, as is the Fed’s 2008-09 bailout of the global financial system and too big to fail/jail mortgage originators and a vast array of other profiteering, embezzler-scoundrels.</p><p><blockquote>不可否认，美联储助长了 1999-2000 年的互联网泡沫和 2005-2008 年的房地产泡沫，美联储在 2008-09 年对全球金融体系的救助以及“大到不能倒”/监禁抵押贷款发起人和其他大量牟取暴利、挪用公款的恶棍也是如此。</blockquote></p><p> The Fed’s zero-interest rate policy (ZIRP) and unprecedented quantitative easing monetary stimulus have pushed the Fed balance sheet, federal debt and systemic debt to heights that heretofore would have been inconceivable.</p><p><blockquote>美联储的零利率政策（ZIRP）和前所未有的量化宽松货币刺激措施将美联储的资产负债表、联邦债务和系统性债务推向了以前难以想象的高度。</blockquote></p><p></p><p> While pursuing these non-mutually-exclusive agendas —&nbsp;<i>we came to do good and stayed to do well</i>— the Fed has generated destabilizing extremes of wealth and income inequality, a reality that the Fed laughably denies. (There must be much mirth about this BS behind closed doors.)</p><p><blockquote>在追求这些互不排斥的议程的同时——<i>我们来是为了做好事，留下来是为了做好事</i>——美联储造成了破坏稳定的极端财富和收入不平等，而美联储可笑地否认了这一现实。（闭门造车肯定有很多欢乐。）</blockquote></p><p> <b>Allow me to posit a third agenda which doesn’t negate either conventional agenda but does explain some of the Fed’s actions since 2008…</b></p><p><blockquote><b>请允许我提出第三个议程，它并不否定任何一个传统议程，但确实解释了美联储自 2008 年以来的一些行动..</b></blockquote></p><p> <b>The Fed’s Real Mandate</b></p><p><blockquote><b>美联储的真正使命</b></blockquote></p><p> <b>As the system unravels, the Fed’s primary imperative is to save the financial system and economy from the greed-soaked incompetence of the other players, public and private, by taking charge of critical swaths of the financial system and economy.</b></p><p><blockquote><b>随着金融体系的瓦解，美联储的首要任务是通过掌控金融体系和经济的关键领域，将金融体系和经济从其他公共和私营部门参与者贪婪无能的影响中拯救出来。</b></blockquote></p><p> After the subprime debacle almost took down the entire global financial system, the Fed (with a bit of help from Congress) essentially took over the entire $10 trillion U.S. mortgage market.</p><p><blockquote>在次贷危机几乎摧毁了整个全球金融体系后，美联储（在国会的帮助下）基本上接管了整个10万亿美元的美国抵押贷款市场。</blockquote></p><p> Private-sector lenders had figured out how to issue guaranteed-to-default mortgages and pass off the fraudulent mortgage-backed securities (MBS) to a global cast of suckers who believed America’s financial system was properly regulated. (Haha, the joke’s on you.)</p><p><blockquote>私营部门贷款机构已经想出了如何发行违约担保抵押贷款，并将欺诈性抵押贷款支持证券（MBS）转嫁给一群相信美国金融体系受到适当监管的全球傻瓜。（哈哈，笑话在你身上。）</blockquote></p><p> In response, the Fed basically nationalized the mortgage market, buying more than $1 trillion in mortgage-backed securities and ensuring that virtually all mortgages in the U.S. were guaranteed or originated by federal agencies: Fannie Mae and Freddie Mac (after their bankruptcy as quasi-private agencies), FHA and VA.</p><p><blockquote>作为回应，美联储基本上将抵押贷款市场国有化，购买了超过 1 万亿美元的抵押贷款支持证券，并确保美国几乎所有抵押贷款都由联邦机构担保或发起：房利美和房地美（准私人机构破产后）、联邦住房管理局和退伍军人管理局。</blockquote></p><p> More recently, the Fed realized the private broker-dealer banks that handle the all-important issuance of Treasury bonds could no longer be trusted.</p><p><blockquote>最近，美联储意识到处理最重要的国债发行的私人经纪自营商银行不再可信。</blockquote></p><p> As analyst Christopher Whalen explains,&nbsp;<b><i>“The Fed’s primary concern is not employment or inflation, but rather keeping the market for Treasury securities functioning.”</i></b></p><p><blockquote>正如分析师克里斯托弗·惠伦解释的那样，<b><i>“美联储的首要关注点不是就业或通胀，而是保持国债市场的正常运转。”</i></b></blockquote></p><p> In response, the Fed is cutting the broker-dealers out as unreliable players. The Treasury market and the U.S. dollar are the foundations of federal spending and power, and so the Fed has realized that, just as it did with the fraudulent embezzlers of the private-sector mortgage market, it has to bypass or neuter the private-sector players as threats to stability.</p><p><blockquote>作为回应，美联储正在将经纪自营商剔除为不可靠的参与者。国债市场和美元是联邦支出和权力的基础，因此美联储已经意识到，正如它对私营部门抵押贷款市场的欺诈性挪用者所做的那样，它必须绕过或压制私营部门参与者，将其视为对稳定的威胁。</blockquote></p><p> <b>Next up on the Fed’s agenda: take charge of the issuance of new money to households and cut Congress out of the loop.</b></p><p><blockquote><b>美联储的下一个议程是：负责向家庭发行新货币，并将国会排除在外。</b></blockquote></p><p> <b>Money Directly From the Fed</b></p><p><blockquote><b>直接来自美联储的资金</b></blockquote></p><p> If you read up on the Fed’s plans for its own digital currency and the FedNow system, you’ll come to understand that the Fed has concluded that supporting consumption (i.e. giving money to households to enable more spending) is too important to leave in the corrupt hands of the legislative bodies (Congress) or the Treasury, which must issue debt to raise cash to distribute to households, debt that further burdens federal revenues and spending.</p><p><blockquote>如果你仔细阅读美联储对自己的数字货币和 FedNow 系统的计划，你就会明白，美联储已经得出结论，支持消费（即向家庭发放资金以增加支出）太重要了，不能把这些债务交给腐败的立法机构（国会）或财政部，因为后者必须发行债务来筹集现金以分配给家庭，而这些债务进一步加重了联邦收入和支出的负担。</blockquote></p><p> We can’t count on you, broker-dealers or Congress, so we’re taking charge, as the system is now so over-extended that any misadventure by other players could well be catastrophic. The only alternative from the Fed’s point of view is to take charge and cut the untrustworthy, self-serving incompetents out of the loop.</p><p><blockquote>我们不能指望你们、经纪人或国会，所以我们要负责，因为现在的系统已经过度扩张，其他参与者的任何意外都很可能是灾难性的。从美联储的角度来看，唯一的选择就是接管并将不值得信赖、自私自利的无能之辈剔除出去。</blockquote></p><p> <b>So the Fed’s plan is to create new money out of thin air and deposit it directly in household accounts via the FedNow system.</b></p><p><blockquote><b>因此，美联储的计划是凭空创造新的货币，并通过 FedNow 系统直接存入家庭账户。</b></blockquote></p><p> The danger of this power grab is that the Fed will misjudge the situation, and that will prove catastrophic because the system has been stripped of resilience, feedback and redundancy.</p><p><blockquote>这种权力攫取的危险在于，美联储会误判形势，这将被证明是灾难性的，因为该系统已经失去了弹性、反馈和冗余。</blockquote></p><p> I suspect the Fed sees itself as trapped by the incompetence and greed of the other players and by its own policy extremes that were little more than expedient “saves” of a system that is unraveling due to its fragility and brittleness.</p><p><blockquote>我怀疑美联储认为自己被其他参与者的无能和贪婪以及自己的极端政策所困，这些政策只不过是对一个因脆弱性而正在瓦解的体系的权宜之计 “拯救”。</blockquote></p><p> <b>The groundwork is being laid for the Fed’s digital currency and direct deposits to households via FedNow accounts.</b></p><p><blockquote><b>美联储正在为数字货币和通过 FedNow 账户向家庭直接存款奠定基础。</b></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nThe Fed's Sneaky Plot<blockquote>美联储的阴险阴谋</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Zerohedge</strong><span class=\"h-time small\">2021-06-11 20:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>For the past 22 years, every time the stock market whimpered, wheezed or whined, the Federal Reserve rushed to soothe the spoiled crybaby.</p><p><blockquote>在过去的22年里，每当股市呜咽、喘息或发牢骚时，美联储就会赶紧安抚这个被宠坏的爱哭鬼。</blockquote></p><p> There are two consequential results of the&nbsp;<i>Fed as savior</i>:</p><p><blockquote>有两个重要的结果<i>美联储作为救世主</i>:</blockquote></p><p>   1.   <b>The Fed has perfected&nbsp;</b>   <b><i>moral hazard</i></b>   <b>:</b>everyone from the money manager betting billions to the punters gambling their stimmy money is absolutely confident I can’t lose because the Fed will always push the market higher.  What happens when participants are confident they can’t possibly lose? They make ever-riskier and ever-larger bets. The entire nation is in the grip of a moral hazard mania, all based on the confidence that the Fed will always push every market higher—always, without fail.</p><p><blockquote>1.<b>美联储已经完善</b><b><i>道德风险</i></b><b>:</b>从押注数十亿美元的资金经理到赌徒，每个人都绝对相信我不会输，因为美联储总是会推高市场。当参与者确信自己不可能输时会发生什么？他们下的赌注越来越大，越来越大。整个国家都陷入了道德风险狂热之中，这一切都是基于这样一种信心：美联储将永远推高每个市场——永远不会失败。</blockquote></p><p>   2.   <b>Organic (i.e. non-manipulated) market forces have been extinguished.</b>There is now only one consequential force, the Fed. All markets are now 100% dependent on the Fed responding to every bleat from every punter who’s recklessly risky bet is about to go bad.  The Fed is now the perfect union of quasi-religious savior and&nbsp;<i>Helicopter Parent</i>: oh dear, our little darling got high and crashed the Porsche? Quick, let’s save our precious market from any consequences!</p><p><blockquote>2.<b>有机的（即非操纵的）市场力量已经消失。</b>现在只有一股重要力量，那就是美联储。现在，所有市场都 100% 依赖于美联储对每一个赌客的每一次抱怨做出回应，这些赌客的鲁莽冒险赌注即将失败。美联储现在是准宗教救世主和<i>直升机母机</i>哦，亲爱的，我们的小宝贝嗑药了，把保时捷撞坏了？快，让我们拯救我们宝贵的市场免受任何后果!</blockquote></p><p> <b>Every day, Fed speakers take to the pulpit to spew another sermon about the Fed’s god-like power and wisdom. The true believers soak up every word: golly-gee, the Fed is better than any god — it’s guaranteeing I can get rich if I just leverage up any bet in any market!</b></p><p><blockquote><b>每天，美联储发言人都会走上讲坛，再次宣讲美联储神一般的力量和智慧。真正的信徒们会吸收每一个字：天哪，美联储比任何神都强--它保证我只要在任何市场上加大赌注，就能发财!</b></blockquote></p><p> With a savior like the Fed, you don’t need a real economy or a real market - all you need is the assurance that the Fed will save every market from every consequence.</p><p><blockquote>有了美联储这样的救世主，你不需要真正的经济或真正的市场--你所需要的只是美联储将拯救每个市场免受每一个后果的保证。</blockquote></p><p> <b>The Point of Diminishing Returns</b></p><p><blockquote><b>收益递减点</b></blockquote></p><p> All this hubris is jolly while it lasts, but since risk cannot be dissipated, it can only be transferred, the Fed has transferred decades of fast-rising risk to the entire system. The entire system now rests on the Fed, a dependency that raises its own risks.</p><p><blockquote>所有这些傲慢在持续的时候是令人愉快的，但由于风险无法消散，只能转移，美联储已经将几十年来快速增长的风险转移到了整个系统。整个体系现在依赖于美联储，这种依赖增加了自身的风险。</blockquote></p><p> <b>By imposing moral hazard and crushing consequences, the Fed has stripped the entire financial system of self-correcting mechanisms. This is a surefire recipe for systemic failure and collapse.</b></p><p><blockquote><b>通过施加道德风险和毁灭性后果，美联储剥夺了整个金融体系的自我纠正机制。这是系统性失败和崩溃的万无一失的秘诀。</b></blockquote></p><p> There is no way to wean the system off its dependence on the Fed, and no way to restore organic market functions. The slightest reduction in the Fed’s spew of trillions will crash the market, because there is literally nothing holding it aloft but Fed spew — monetary and verbal.</p><p><blockquote>没有办法让这个体系摆脱对美联储的依赖，也没有办法恢复有机的市场功能。美联储数万亿美元的喷水量稍有减少，市场就会崩溃，因为除了美联储的喷水--货币和口头上--之外，没有什么能支撑市场。</blockquote></p><p> The problem with becoming 100% dependent on the Fed is any wobble will crash the system — and&nbsp;<i>diminishing returns</i>&nbsp;guarantee a wobble.</p><p><blockquote>100% 依赖美联储的问题在于，任何动摇都会使系统崩溃——而且<i>回报递减</i>保证摇摆。</blockquote></p><p> <b>The system’s sensitivity to the Fed’s spew of trillions of dollars and claptrap preaching is diminishing,</b>which is why the Fed has moved from spewing hundreds of billions to trillions, and why Fed speakers who we once heard from once a month are now out in force every single day.</p><p><blockquote><b>整个系统对美联储数万亿美元的喷水和哗众取宠的说教的敏感度正在降低、</b>这就是为什么美联储从喷出数千亿美元转向数万亿美元，也是为什么我们曾经每月听到一次的美联储发言人现在每天都在生效。</blockquote></p><p> Remarkably, few anticipate any consequence from the Fed’s perfection of moral hazard and the system’s 100% dependence on the Fed’s spew even as diminishing returns gnaw away at the efficacy of the Fed’s ever more grandiose policies and pronouncements.</p><p><blockquote>值得注意的是，很少有人预料到美联储完美的道德风险和该系统 100% 依赖美联储的吐槽会产生任何后果，即使回报率不断下降，美联储日益宏大的政策和声明的效力也在不断蚕食。</blockquote></p><p> <b>If you wanted to design a system guaranteed to collapse in a putrid heap, you’d make moral hazard ubiquitous and you’d make the system 100% dependent on a hubris-soaked faux savior.</b></p><p><blockquote><b>如果你想设计一个保证会在腐烂的垃圾堆中崩溃的系统，你就会让道德风险无处不在，你就会让这个系统 100% 依赖于一个傲慢自大的假救世主。</b></blockquote></p><p> Hey, that describes America’s economy and financial system perfectly. But now I want to explore something about the Fed you’ve probably never considered before…</p><p><blockquote>嘿，这完美地描述了美国的经济和金融体系。但现在我想探讨一些你可能从未考虑过的关于美联储的事情..</blockquote></p><p> <b>The Fed’s Official and Unofficial Mandates</b></p><p><blockquote><b>美联储的官方和非官方任务</b></blockquote></p><p> There are two standard-issue narratives about the Federal Reserve’s agenda: the Fed’s official narrative is that the Fed’s mandate is to keep inflation under control while promoting full employment.</p><p><blockquote>关于美联储的议程有两种标准说法： 美联储的官方说法是，美联储的任务是在促进充分就业的同时控制通胀。</blockquote></p><p> <b>The unofficial mandate that’s obvious to all is to prop up assets, especially the stock market, which has become the Fed’s preferred&nbsp;</b><b><i>signifier of prosperity and the rightness/goodness of Fed policies.</i></b></p><p><blockquote><b>所有人都清楚的非官方任务是支撑资产，尤其是已成为美联储首选的股票市场。</b><b><i>繁荣的象征和美联储政策的正确性/正确性。</i></b></blockquote></p><p> The other narrative results from “following the money”: the Fed is owned by private-sector banks, and so behind the curtain of happy-talk (full employment, blah-blah-blah), the Fed’s only real agenda is to further enrich banks and too big to fail/jail financiers — something it has managed to do with remarkable success.</p><p><blockquote>另一种说法来自 “追随金钱 ”： 美联储由私营部门银行所有，因此在高谈阔论（充分就业、诸如此类）的幕后，美联储唯一真正的议程就是进一步丰富银行和大到不能倒/监禁金融家--而美联储在这方面取得了显著的成功。</blockquote></p><p> That the Fed inflated the 1999-2000 dot-com bubble and the 2005-2008 housing bubble is undeniable, as is the Fed’s 2008-09 bailout of the global financial system and too big to fail/jail mortgage originators and a vast array of other profiteering, embezzler-scoundrels.</p><p><blockquote>不可否认，美联储助长了 1999-2000 年的互联网泡沫和 2005-2008 年的房地产泡沫，美联储在 2008-09 年对全球金融体系的救助以及“大到不能倒”/监禁抵押贷款发起人和其他大量牟取暴利、挪用公款的恶棍也是如此。</blockquote></p><p> The Fed’s zero-interest rate policy (ZIRP) and unprecedented quantitative easing monetary stimulus have pushed the Fed balance sheet, federal debt and systemic debt to heights that heretofore would have been inconceivable.</p><p><blockquote>美联储的零利率政策（ZIRP）和前所未有的量化宽松货币刺激措施将美联储的资产负债表、联邦债务和系统性债务推向了以前难以想象的高度。</blockquote></p><p></p><p> While pursuing these non-mutually-exclusive agendas —&nbsp;<i>we came to do good and stayed to do well</i>— the Fed has generated destabilizing extremes of wealth and income inequality, a reality that the Fed laughably denies. (There must be much mirth about this BS behind closed doors.)</p><p><blockquote>在追求这些互不排斥的议程的同时——<i>我们来是为了做好事，留下来是为了做好事</i>——美联储造成了破坏稳定的极端财富和收入不平等，而美联储可笑地否认了这一现实。（闭门造车肯定有很多欢乐。）</blockquote></p><p> <b>Allow me to posit a third agenda which doesn’t negate either conventional agenda but does explain some of the Fed’s actions since 2008…</b></p><p><blockquote><b>请允许我提出第三个议程，它并不否定任何一个传统议程，但确实解释了美联储自 2008 年以来的一些行动..</b></blockquote></p><p> <b>The Fed’s Real Mandate</b></p><p><blockquote><b>美联储的真正使命</b></blockquote></p><p> <b>As the system unravels, the Fed’s primary imperative is to save the financial system and economy from the greed-soaked incompetence of the other players, public and private, by taking charge of critical swaths of the financial system and economy.</b></p><p><blockquote><b>随着金融体系的瓦解，美联储的首要任务是通过掌控金融体系和经济的关键领域，将金融体系和经济从其他公共和私营部门参与者贪婪无能的影响中拯救出来。</b></blockquote></p><p> After the subprime debacle almost took down the entire global financial system, the Fed (with a bit of help from Congress) essentially took over the entire $10 trillion U.S. mortgage market.</p><p><blockquote>在次贷危机几乎摧毁了整个全球金融体系后，美联储（在国会的帮助下）基本上接管了整个10万亿美元的美国抵押贷款市场。</blockquote></p><p> Private-sector lenders had figured out how to issue guaranteed-to-default mortgages and pass off the fraudulent mortgage-backed securities (MBS) to a global cast of suckers who believed America’s financial system was properly regulated. (Haha, the joke’s on you.)</p><p><blockquote>私营部门贷款机构已经想出了如何发行违约担保抵押贷款，并将欺诈性抵押贷款支持证券（MBS）转嫁给一群相信美国金融体系受到适当监管的全球傻瓜。（哈哈，笑话在你身上。）</blockquote></p><p> In response, the Fed basically nationalized the mortgage market, buying more than $1 trillion in mortgage-backed securities and ensuring that virtually all mortgages in the U.S. were guaranteed or originated by federal agencies: Fannie Mae and Freddie Mac (after their bankruptcy as quasi-private agencies), FHA and VA.</p><p><blockquote>作为回应，美联储基本上将抵押贷款市场国有化，购买了超过 1 万亿美元的抵押贷款支持证券，并确保美国几乎所有抵押贷款都由联邦机构担保或发起：房利美和房地美（准私人机构破产后）、联邦住房管理局和退伍军人管理局。</blockquote></p><p> More recently, the Fed realized the private broker-dealer banks that handle the all-important issuance of Treasury bonds could no longer be trusted.</p><p><blockquote>最近，美联储意识到处理最重要的国债发行的私人经纪自营商银行不再可信。</blockquote></p><p> As analyst Christopher Whalen explains,&nbsp;<b><i>“The Fed’s primary concern is not employment or inflation, but rather keeping the market for Treasury securities functioning.”</i></b></p><p><blockquote>正如分析师克里斯托弗·惠伦解释的那样，<b><i>“美联储的首要关注点不是就业或通胀，而是保持国债市场的正常运转。”</i></b></blockquote></p><p> In response, the Fed is cutting the broker-dealers out as unreliable players. The Treasury market and the U.S. dollar are the foundations of federal spending and power, and so the Fed has realized that, just as it did with the fraudulent embezzlers of the private-sector mortgage market, it has to bypass or neuter the private-sector players as threats to stability.</p><p><blockquote>作为回应，美联储正在将经纪自营商剔除为不可靠的参与者。国债市场和美元是联邦支出和权力的基础，因此美联储已经意识到，正如它对私营部门抵押贷款市场的欺诈性挪用者所做的那样，它必须绕过或压制私营部门参与者，将其视为对稳定的威胁。</blockquote></p><p> <b>Next up on the Fed’s agenda: take charge of the issuance of new money to households and cut Congress out of the loop.</b></p><p><blockquote><b>美联储的下一个议程是：负责向家庭发行新货币，并将国会排除在外。</b></blockquote></p><p> <b>Money Directly From the Fed</b></p><p><blockquote><b>直接来自美联储的资金</b></blockquote></p><p> If you read up on the Fed’s plans for its own digital currency and the FedNow system, you’ll come to understand that the Fed has concluded that supporting consumption (i.e. giving money to households to enable more spending) is too important to leave in the corrupt hands of the legislative bodies (Congress) or the Treasury, which must issue debt to raise cash to distribute to households, debt that further burdens federal revenues and spending.</p><p><blockquote>如果你仔细阅读美联储对自己的数字货币和 FedNow 系统的计划，你就会明白，美联储已经得出结论，支持消费（即向家庭发放资金以增加支出）太重要了，不能把这些债务交给腐败的立法机构（国会）或财政部，因为后者必须发行债务来筹集现金以分配给家庭，而这些债务进一步加重了联邦收入和支出的负担。</blockquote></p><p> We can’t count on you, broker-dealers or Congress, so we’re taking charge, as the system is now so over-extended that any misadventure by other players could well be catastrophic. The only alternative from the Fed’s point of view is to take charge and cut the untrustworthy, self-serving incompetents out of the loop.</p><p><blockquote>我们不能指望你们、经纪人或国会，所以我们要负责，因为现在的系统已经过度扩张，其他参与者的任何意外都很可能是灾难性的。从美联储的角度来看，唯一的选择就是接管并将不值得信赖、自私自利的无能之辈剔除出去。</blockquote></p><p> <b>So the Fed’s plan is to create new money out of thin air and deposit it directly in household accounts via the FedNow system.</b></p><p><blockquote><b>因此，美联储的计划是凭空创造新的货币，并通过 FedNow 系统直接存入家庭账户。</b></blockquote></p><p> The danger of this power grab is that the Fed will misjudge the situation, and that will prove catastrophic because the system has been stripped of resilience, feedback and redundancy.</p><p><blockquote>这种权力攫取的危险在于，美联储会误判形势，这将被证明是灾难性的，因为该系统已经失去了弹性、反馈和冗余。</blockquote></p><p> I suspect the Fed sees itself as trapped by the incompetence and greed of the other players and by its own policy extremes that were little more than expedient “saves” of a system that is unraveling due to its fragility and brittleness.</p><p><blockquote>我怀疑美联储认为自己被其他参与者的无能和贪婪以及自己的极端政策所困，这些政策只不过是对一个因脆弱性而正在瓦解的体系的权宜之计 “拯救”。</blockquote></p><p> <b>The groundwork is being laid for the Fed’s digital currency and direct deposits to households via FedNow accounts.</b></p><p><blockquote><b>美联储正在为数字货币和通过 FedNow 账户向家庭直接存款奠定基础。</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/economics/feds-sneaky-plot\">Zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/economics/feds-sneaky-plot","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187301815","content_text":"For the past 22 years, every time the stock market whimpered, wheezed or whined, the Federal Reserve rushed to soothe the spoiled crybaby.\nThere are two consequential results of the Fed as savior:\n\n 1. \n The Fed has perfected \nmoral hazard\n:everyone from the money manager betting billions to the punters gambling their stimmy money is absolutely confident I can’t lose because the Fed will always push the market higher.\n\nWhat happens when participants are confident they can’t possibly lose? They make ever-riskier and ever-larger bets. The entire nation is in the grip of a moral hazard mania, all based on the confidence that the Fed will always push every market higher—always, without fail.\n\n 2. \n Organic (i.e. non-manipulated) market forces have been extinguished.There is now only one consequential force, the Fed. All markets are now 100% dependent on the Fed responding to every bleat from every punter who’s recklessly risky bet is about to go bad.\n\nThe Fed is now the perfect union of quasi-religious savior and Helicopter Parent: oh dear, our little darling got high and crashed the Porsche? Quick, let’s save our precious market from any consequences!\nEvery day, Fed speakers take to the pulpit to spew another sermon about the Fed’s god-like power and wisdom. The true believers soak up every word: golly-gee, the Fed is better than any god — it’s guaranteeing I can get rich if I just leverage up any bet in any market!\nWith a savior like the Fed, you don’t need a real economy or a real market - all you need is the assurance that the Fed will save every market from every consequence.\nThe Point of Diminishing Returns\nAll this hubris is jolly while it lasts, but since risk cannot be dissipated, it can only be transferred, the Fed has transferred decades of fast-rising risk to the entire system. The entire system now rests on the Fed, a dependency that raises its own risks.\nBy imposing moral hazard and crushing consequences, the Fed has stripped the entire financial system of self-correcting mechanisms. This is a surefire recipe for systemic failure and collapse.\nThere is no way to wean the system off its dependence on the Fed, and no way to restore organic market functions. The slightest reduction in the Fed’s spew of trillions will crash the market, because there is literally nothing holding it aloft but Fed spew — monetary and verbal.\nThe problem with becoming 100% dependent on the Fed is any wobble will crash the system — and diminishing returns guarantee a wobble.\nThe system’s sensitivity to the Fed’s spew of trillions of dollars and claptrap preaching is diminishing,which is why the Fed has moved from spewing hundreds of billions to trillions, and why Fed speakers who we once heard from once a month are now out in force every single day.\nRemarkably, few anticipate any consequence from the Fed’s perfection of moral hazard and the system’s 100% dependence on the Fed’s spew even as diminishing returns gnaw away at the efficacy of the Fed’s ever more grandiose policies and pronouncements.\nIf you wanted to design a system guaranteed to collapse in a putrid heap, you’d make moral hazard ubiquitous and you’d make the system 100% dependent on a hubris-soaked faux savior.\nHey, that describes America’s economy and financial system perfectly. But now I want to explore something about the Fed you’ve probably never considered before…\nThe Fed’s Official and Unofficial Mandates\nThere are two standard-issue narratives about the Federal Reserve’s agenda: the Fed’s official narrative is that the Fed’s mandate is to keep inflation under control while promoting full employment.\nThe unofficial mandate that’s obvious to all is to prop up assets, especially the stock market, which has become the Fed’s preferred signifier of prosperity and the rightness/goodness of Fed policies.\nThe other narrative results from “following the money”: the Fed is owned by private-sector banks, and so behind the curtain of happy-talk (full employment, blah-blah-blah), the Fed’s only real agenda is to further enrich banks and too big to fail/jail financiers — something it has managed to do with remarkable success.\nThat the Fed inflated the 1999-2000 dot-com bubble and the 2005-2008 housing bubble is undeniable, as is the Fed’s 2008-09 bailout of the global financial system and too big to fail/jail mortgage originators and a vast array of other profiteering, embezzler-scoundrels.\nThe Fed’s zero-interest rate policy (ZIRP) and unprecedented quantitative easing monetary stimulus have pushed the Fed balance sheet, federal debt and systemic debt to heights that heretofore would have been inconceivable.\nWhile pursuing these non-mutually-exclusive agendas — we came to do good and stayed to do well— the Fed has generated destabilizing extremes of wealth and income inequality, a reality that the Fed laughably denies. (There must be much mirth about this BS behind closed doors.)\nAllow me to posit a third agenda which doesn’t negate either conventional agenda but does explain some of the Fed’s actions since 2008…\nThe Fed’s Real Mandate\nAs the system unravels, the Fed’s primary imperative is to save the financial system and economy from the greed-soaked incompetence of the other players, public and private, by taking charge of critical swaths of the financial system and economy.\nAfter the subprime debacle almost took down the entire global financial system, the Fed (with a bit of help from Congress) essentially took over the entire $10 trillion U.S. mortgage market.\nPrivate-sector lenders had figured out how to issue guaranteed-to-default mortgages and pass off the fraudulent mortgage-backed securities (MBS) to a global cast of suckers who believed America’s financial system was properly regulated. (Haha, the joke’s on you.)\nIn response, the Fed basically nationalized the mortgage market, buying more than $1 trillion in mortgage-backed securities and ensuring that virtually all mortgages in the U.S. were guaranteed or originated by federal agencies: Fannie Mae and Freddie Mac (after their bankruptcy as quasi-private agencies), FHA and VA.\nMore recently, the Fed realized the private broker-dealer banks that handle the all-important issuance of Treasury bonds could no longer be trusted.\nAs analyst Christopher Whalen explains, “The Fed’s primary concern is not employment or inflation, but rather keeping the market for Treasury securities functioning.”\nIn response, the Fed is cutting the broker-dealers out as unreliable players. The Treasury market and the U.S. dollar are the foundations of federal spending and power, and so the Fed has realized that, just as it did with the fraudulent embezzlers of the private-sector mortgage market, it has to bypass or neuter the private-sector players as threats to stability.\nNext up on the Fed’s agenda: take charge of the issuance of new money to households and cut Congress out of the loop.\nMoney Directly From the Fed\nIf you read up on the Fed’s plans for its own digital currency and the FedNow system, you’ll come to understand that the Fed has concluded that supporting consumption (i.e. giving money to households to enable more spending) is too important to leave in the corrupt hands of the legislative bodies (Congress) or the Treasury, which must issue debt to raise cash to distribute to households, debt that further burdens federal revenues and spending.\nWe can’t count on you, broker-dealers or Congress, so we’re taking charge, as the system is now so over-extended that any misadventure by other players could well be catastrophic. The only alternative from the Fed’s point of view is to take charge and cut the untrustworthy, self-serving incompetents out of the loop.\nSo the Fed’s plan is to create new money out of thin air and deposit it directly in household accounts via the FedNow system.\nThe danger of this power grab is that the Fed will misjudge the situation, and that will prove catastrophic because the system has been stripped of resilience, feedback and redundancy.\nI suspect the Fed sees itself as trapped by the incompetence and greed of the other players and by its own policy extremes that were little more than expedient “saves” of a system that is unraveling due to its fragility and brittleness.\nThe groundwork is being laid for the Fed’s digital currency and direct deposits to households via FedNow accounts.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1999,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186578750,"gmtCreate":1623515018370,"gmtModify":1634032200036,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186578750","repostId":"1124998394","repostType":4,"isVote":1,"tweetType":1,"viewCount":2485,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186693008,"gmtCreate":1623489259804,"gmtModify":1634032423512,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186693008","repostId":"2142823202","repostType":4,"isVote":1,"tweetType":1,"viewCount":681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186699241,"gmtCreate":1623489243783,"gmtModify":1634032423881,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186699241","repostId":"1147474880","repostType":4,"repost":{"id":"1147474880","kind":"news","pubTimestamp":1623470168,"share":"https://www.laohunote.com/m/news/1147474880?lang=zh_CN&edition=full","pubTime":"2021-06-12 11:56","market":"us","language":"en","title":"Investor, Trader, Speculator: Which One Are You?<blockquote>投资者、交易者、投机者：你是哪一个？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147474880","media":"The Wall Street Journal","summary":"Understanding the difference between speculation and investing is essential to avoiding reckless ris","content":"<p>  Understanding the difference between speculation and investing is essential to avoiding reckless risk.  I’ve had it.</p><p><blockquote>了解投机和投资之间的区别对于避免鲁莽的风险至关重要。我受够了。</blockquote></p><p> The Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.</p><p><blockquote>《华尔街日报》对金融最基本的区别之一的看法是错误的，而且几十年来一直是错误的。我再也受不了了。</blockquote></p><p> If you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.</p><p><blockquote>如果你仅仅因为一只股票上涨了很多，而没有做任何研究就买入它，那么你就不是《华尔街日报》及其编辑们奇怪地坚持称你为 “投资者”。如果你购买加密货币是因为，嘿，这听起来很有趣，那你也不是投资者。</blockquote></p><p> Whenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.</p><p><blockquote>每当你购买任何金融资产时，因为你有一只雄鸡只是为了好玩，或者因为某个名人大肆宣传，而其他人似乎也在购买，你就不是在投资。</blockquote></p><p> You’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.</p><p><blockquote>你绝对是交易者：刚刚购买资产的人。你可能是一个投机者：认为其他人会比你付出更多的人。</blockquote></p><p> Of course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%<i>are</i>investors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.</p><p><blockquote>当然，有些人购买 GameStopCorp.GME5.88% 等模因股票<i>是</i>投资者。他们阅读公司的财务报表，研究基础业务的健康状况，并了解还有谁在押注或押注股票。同样，许多数字硬币的买家也投入了时间和精力来了解加密货币是如何运作的，以及它如何重塑金融。</blockquote></p><p> An investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.</p><p><blockquote>投资者依赖于内部回报来源：收益、收入、资产价值增长。投机者依靠外部回报来源：主要是其他人是否愿意支付更多，而不管基本面价值如何。</blockquote></p><p> The word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.</p><p><blockquote>投资者一词源于拉丁语 “investire ”，意为打扮自己、包围或包裹自己。你永远不会在不知道衣服是什么颜色或材质的情况下穿衣服。同样，你也不能投资你一无所知的资产。</blockquote></p><p> Nevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”</p><p><blockquote>尽管如此，《华尔街日报》及其编辑们长期以来一直将几乎所有购买任何东西的人都称为 “投资者”。1962 年 7 月 12 日，《华尔街日报》刊登了经典著作《证券分析》和《聪明的投资者》的作者本杰明-格雷厄姆写给编辑的一封信。格雷厄姆抱怨说，那年 6 月，《华尔街日报》发表了一篇文章，标题是 “许多小投资者押注股价进一步下跌，卖空奇数手 ”。</blockquote></p><p> He wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)</p><p><blockquote>他写道： “根据'投资'的什么定义，我们能把'投资者'这个名字称为'投资'呢？”（做空奇数手意味着借入并卖出少于 100 股股票，押注股票会下跌——无论在当时还是现在，这都是一个昂贵且有风险的赌注。）</blockquote></p><p> “If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”</p><p><blockquote>“格雷厄姆问道：”如果这些人是投资者，“我们应该如何定义'投机'和'投机者'？难道目前无法区分投资和投机，不仅会对个人造成严重伤害，还会对整个金融界造成严重伤害吗--就像 20 世纪 20 年代末那样？”</blockquote></p><p> Graham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.</p><p><blockquote>格雷厄姆并不是一个势利小人，他认为市场应该是富人的专属游乐场。他写《聪明的投资者》的明确目的是帮助不太富裕的人明智地参与股票市场。</blockquote></p><p> In that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”</p><p><blockquote>格雷厄姆在那本书中写道：“彻头彻尾的投机既不违法，也不不道德，（对大多数人来说）也不会中饱私囊。”</blockquote></p><p> However, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”</p><p><blockquote>然而，他警告说，这会带来三个危险： “(1) 当你认为自己在投资时进行投机；(2) 当你缺乏适当的知识和技能时，认真地进行投机而不是作为消遣；(3) 在投机中冒的风险超过了你承受的损失”。</blockquote></p><p> Most investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.</p><p><blockquote>大多数投资者每隔一段时间就会投机一点。就像一张彩票或偶尔去赛马场或赌场一样，一点点是无害的乐趣。很多人都不是。</blockquote></p><p> If you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.</p><p><blockquote>如果你认为自己在投机时就是在投资，那么即使是短暂的成功，你也会把技巧归因于技巧，尽管运气是最有可能的解释。这会导致你冒鲁莽的风险。</blockquote></p><p> Take speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.</p><p><blockquote>把投机看得太重，它会变成痴迷和上瘾。你变得无法接受你的损失，也无法在几分钟前专注于未来。接下来你就会知道，你在篝火上投入了更多的钱。</blockquote></p><p> I think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.</p><p><blockquote>我认为，称交易者和投机者为 “投资者 ”会将许多新来者推向他们不应该承担的风险和他们无法承受的损失。我衷心希望《华尔街日报》及其编辑们最终能停止使用 “投资者 ”作为任何进行交易的人的默认术语。</blockquote></p><p> “ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”</p><p><blockquote>“《华尔街日报》财经编辑查尔斯-福雷尔（Charles Forelle）在回应我的投诉时说：”'投资者'在英语中有着悠久的历史，它是一个包罗万象的术语，指的是那些投入资金并期望获得回报的人，无论时间长短，无论他们阅读的投资专栏有多少。“至少可以追溯到 19 世纪中叶，'投资'甚至被用来形容赌马--这种活动与基本面分析的脱节肯定不亚于购买狗狗币”。</blockquote></p><p></p><p> I hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.</p><p><blockquote>我听到了，老板，但我还是觉得你错了。《华尔街日报》不可能因为字典上说我们可以，就说一个休闲赌徒在赛马场 “投资 ”。</blockquote></p><p> Calling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.</p><p><blockquote>将新手投机者称为 “投资者 ”是营销人员助长过度交易的最有力手段之一。</blockquote></p><p> Ina recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”</p><p><blockquote>在最近的 Instagram 帖子中，一位名叫拉娜-罗德斯（Lana Rhoades）的前色情明星穿着比基尼摆姿势，举着似乎是格雷厄姆的《聪明的投资者》。据 IMDb.com 报道，她主演了《Tushy》和《Make Me Meow》等视频。</blockquote></p><p> In her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.</p><p><blockquote>罗兹女士在她的帖子中宣布，她将推广一种名为 Pawgcoin 的加密货币，该帖子获得了近 180 万人的 “点赞 ”。</blockquote></p><p> The currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)</p><p><blockquote>该货币的网站称，这枚硬币是为 “那些向发达的后裔致敬的人”准备的。(据我可靠消息，PAWG 代表肥屁股白人女孩。）</blockquote></p><p> PAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.</p><p><blockquote>据追踪此类数字货币的网站 Poocoin.io 称，自 Rhoades 女士 6 月初开始推广 PAWGcoin 以来，PAWGcoin 已上涨约 900%。</blockquote></p><p> Ms. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”</p><p><blockquote>罗兹女士在推特上写道 “我每天早上也读《华尔街日报》 ”，但记者未能联系到她置评。PAWGcoin 的网站鼓励访问者 “立即投资”。</blockquote></p><p> In Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.</p><p><blockquote>在罗兹女士的 Instagram 帖子中，她举着一本打开的《聪明的投资者》，封面是颠倒的。她似乎是闭着眼睛读的。</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>Investor, Trader, Speculator: Which One Are You?<blockquote>投资者、交易者、投机者：你是哪一个？</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\">\nInvestor, Trader, Speculator: Which One Are You?<blockquote>投资者、交易者、投机者：你是哪一个？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-06-12 11:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Understanding the difference between speculation and investing is essential to avoiding reckless risk.  I’ve had it.</p><p><blockquote>了解投机和投资之间的区别对于避免鲁莽的风险至关重要。我受够了。</blockquote></p><p> The Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.</p><p><blockquote>《华尔街日报》对金融最基本的区别之一的看法是错误的，而且几十年来一直是错误的。我再也受不了了。</blockquote></p><p> If you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.</p><p><blockquote>如果你仅仅因为一只股票上涨了很多，而没有做任何研究就买入它，那么你就不是《华尔街日报》及其编辑们奇怪地坚持称你为 “投资者”。如果你购买加密货币是因为，嘿，这听起来很有趣，那你也不是投资者。</blockquote></p><p> Whenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.</p><p><blockquote>每当你购买任何金融资产时，因为你有一只雄鸡只是为了好玩，或者因为某个名人大肆宣传，而其他人似乎也在购买，你就不是在投资。</blockquote></p><p> You’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.</p><p><blockquote>你绝对是交易者：刚刚购买资产的人。你可能是一个投机者：认为其他人会比你付出更多的人。</blockquote></p><p> Of course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%<i>are</i>investors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.</p><p><blockquote>当然，有些人购买 GameStopCorp.GME5.88% 等模因股票<i>是</i>投资者。他们阅读公司的财务报表，研究基础业务的健康状况，并了解还有谁在押注或押注股票。同样，许多数字硬币的买家也投入了时间和精力来了解加密货币是如何运作的，以及它如何重塑金融。</blockquote></p><p> An investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.</p><p><blockquote>投资者依赖于内部回报来源：收益、收入、资产价值增长。投机者依靠外部回报来源：主要是其他人是否愿意支付更多，而不管基本面价值如何。</blockquote></p><p> The word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.</p><p><blockquote>投资者一词源于拉丁语 “investire ”，意为打扮自己、包围或包裹自己。你永远不会在不知道衣服是什么颜色或材质的情况下穿衣服。同样，你也不能投资你一无所知的资产。</blockquote></p><p> Nevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”</p><p><blockquote>尽管如此，《华尔街日报》及其编辑们长期以来一直将几乎所有购买任何东西的人都称为 “投资者”。1962 年 7 月 12 日，《华尔街日报》刊登了经典著作《证券分析》和《聪明的投资者》的作者本杰明-格雷厄姆写给编辑的一封信。格雷厄姆抱怨说，那年 6 月，《华尔街日报》发表了一篇文章，标题是 “许多小投资者押注股价进一步下跌，卖空奇数手 ”。</blockquote></p><p> He wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)</p><p><blockquote>他写道： “根据'投资'的什么定义，我们能把'投资者'这个名字称为'投资'呢？”（做空奇数手意味着借入并卖出少于 100 股股票，押注股票会下跌——无论在当时还是现在，这都是一个昂贵且有风险的赌注。）</blockquote></p><p> “If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”</p><p><blockquote>“格雷厄姆问道：”如果这些人是投资者，“我们应该如何定义'投机'和'投机者'？难道目前无法区分投资和投机，不仅会对个人造成严重伤害，还会对整个金融界造成严重伤害吗--就像 20 世纪 20 年代末那样？”</blockquote></p><p> Graham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.</p><p><blockquote>格雷厄姆并不是一个势利小人，他认为市场应该是富人的专属游乐场。他写《聪明的投资者》的明确目的是帮助不太富裕的人明智地参与股票市场。</blockquote></p><p> In that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”</p><p><blockquote>格雷厄姆在那本书中写道：“彻头彻尾的投机既不违法，也不不道德，（对大多数人来说）也不会中饱私囊。”</blockquote></p><p> However, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”</p><p><blockquote>然而，他警告说，这会带来三个危险： “(1) 当你认为自己在投资时进行投机；(2) 当你缺乏适当的知识和技能时，认真地进行投机而不是作为消遣；(3) 在投机中冒的风险超过了你承受的损失”。</blockquote></p><p> Most investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.</p><p><blockquote>大多数投资者每隔一段时间就会投机一点。就像一张彩票或偶尔去赛马场或赌场一样，一点点是无害的乐趣。很多人都不是。</blockquote></p><p> If you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.</p><p><blockquote>如果你认为自己在投机时就是在投资，那么即使是短暂的成功，你也会把技巧归因于技巧，尽管运气是最有可能的解释。这会导致你冒鲁莽的风险。</blockquote></p><p> Take speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.</p><p><blockquote>把投机看得太重，它会变成痴迷和上瘾。你变得无法接受你的损失，也无法在几分钟前专注于未来。接下来你就会知道，你在篝火上投入了更多的钱。</blockquote></p><p> I think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.</p><p><blockquote>我认为，称交易者和投机者为 “投资者 ”会将许多新来者推向他们不应该承担的风险和他们无法承受的损失。我衷心希望《华尔街日报》及其编辑们最终能停止使用 “投资者 ”作为任何进行交易的人的默认术语。</blockquote></p><p> “ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”</p><p><blockquote>“《华尔街日报》财经编辑查尔斯-福雷尔（Charles Forelle）在回应我的投诉时说：”'投资者'在英语中有着悠久的历史，它是一个包罗万象的术语，指的是那些投入资金并期望获得回报的人，无论时间长短，无论他们阅读的投资专栏有多少。“至少可以追溯到 19 世纪中叶，'投资'甚至被用来形容赌马--这种活动与基本面分析的脱节肯定不亚于购买狗狗币”。</blockquote></p><p></p><p> I hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.</p><p><blockquote>我听到了，老板，但我还是觉得你错了。《华尔街日报》不可能因为字典上说我们可以，就说一个休闲赌徒在赛马场 “投资 ”。</blockquote></p><p> Calling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.</p><p><blockquote>将新手投机者称为 “投资者 ”是营销人员助长过度交易的最有力手段之一。</blockquote></p><p> Ina recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”</p><p><blockquote>在最近的 Instagram 帖子中，一位名叫拉娜-罗德斯（Lana Rhoades）的前色情明星穿着比基尼摆姿势，举着似乎是格雷厄姆的《聪明的投资者》。据 IMDb.com 报道，她主演了《Tushy》和《Make Me Meow》等视频。</blockquote></p><p> In her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.</p><p><blockquote>罗兹女士在她的帖子中宣布，她将推广一种名为 Pawgcoin 的加密货币，该帖子获得了近 180 万人的 “点赞 ”。</blockquote></p><p> The currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)</p><p><blockquote>该货币的网站称，这枚硬币是为 “那些向发达的后裔致敬的人”准备的。(据我可靠消息，PAWG 代表肥屁股白人女孩。）</blockquote></p><p> PAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.</p><p><blockquote>据追踪此类数字货币的网站 Poocoin.io 称，自 Rhoades 女士 6 月初开始推广 PAWGcoin 以来，PAWGcoin 已上涨约 900%。</blockquote></p><p> Ms. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”</p><p><blockquote>罗兹女士在推特上写道 “我每天早上也读《华尔街日报》 ”，但记者未能联系到她置评。PAWGcoin 的网站鼓励访问者 “立即投资”。</blockquote></p><p> In Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.</p><p><blockquote>在罗兹女士的 Instagram 帖子中，她举着一本打开的《聪明的投资者》，封面是颠倒的。她似乎是闭着眼睛读的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147474880","content_text":"Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.\nIf you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.\nWhenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.\nYou’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.\nOf course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%areinvestors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.\nAn investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.\nThe word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.\nNevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”\nHe wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)\n“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”\nGraham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.\nIn that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”\nHowever, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”\nMost investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.\nIf you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.\nTake speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.\nI think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.\n“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”\nI hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.\nCalling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.\nIna recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”\nIn her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.\nThe currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)\nPAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.\nMs. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”\nIn Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186877719,"gmtCreate":1623488408431,"gmtModify":1634032434078,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186877719","repostId":"1133871419","repostType":4,"isVote":1,"tweetType":1,"viewCount":540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186875475,"gmtCreate":1623488233997,"gmtModify":1634032435632,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/186875475","repostId":"2142204074","repostType":4,"isVote":1,"tweetType":1,"viewCount":740,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137638007,"gmtCreate":1622341845809,"gmtModify":1634102210452,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Pls like and comment","listText":"Pls like and comment","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/137638007","repostId":"2138948877","repostType":4,"isVote":1,"tweetType":1,"viewCount":989,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138677150,"gmtCreate":1621939404470,"gmtModify":1634185340372,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Like and comment thanks","listText":"Like and comment thanks","text":"Like and comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/138677150","repostId":"2138776169","repostType":4,"isVote":1,"tweetType":1,"viewCount":1105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197371095,"gmtCreate":1621431385317,"gmtModify":1634189216202,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197371095","repostId":"1158638540","repostType":4,"repost":{"id":"1158638540","kind":"news","pubTimestamp":1621409180,"share":"https://www.laohunote.com/m/news/1158638540?lang=zh_CN&edition=full","pubTime":"2021-05-19 15:26","market":"us","language":"en","title":"4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace 直接上市前需要了解的 4 件事</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158638540","media":"Barrons","summary":"The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.The company offers various tools for website creation, including domains, e-comme","content":"<p>The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.</p><p><blockquote>疫情促使许多小企业首次获得在线店面，创造了一股电子商务浪潮，帮助网站创建平台Squarespace Inc.加速了其收入增长。</blockquote></p><p> Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.</p><p><blockquote>现在，Squarespace将测试作为一家上市公司的电子商务势头的弹性。其股票定于周三开始在纽约证券交易所直接上市，股票代码为 SQSP。</blockquote></p><p> The company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.</p><p><blockquote>该公司提供各种网站创建工具，包括域名、电子商务功能和营销功能。Squarespace 的目标是与网络专业知识有限的小型企业以及需要更大灵活性来根据自身需求进行定制的 “大品牌 ”合作。</blockquote></p><p> Squarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in&nbsp;its filing with the Securities and Exchange Commission.</p><p><blockquote>Squarespace 在提交给美国证券交易委员会的文件中表示，Squarespace 认为自己正在顺应多种趋势，包括企业越来越需要与客户保持直接关系，以及越来越重视 DIY 解决方案，这些解决方案 “正在迅速取代昂贵的代理机构，使同等的设计质量开箱即用，人人都能获得且易于使用”。</blockquote></p><p> The company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.</p><p><blockquote>该公司在3月份的一轮融资中筹集了3亿美元，使该公司的企业估值达到100亿美元，并且没有像它所说的那样筹集任何新的资金。以下是您需要了解的关于该公司的其他信息。</blockquote></p><p> <b>Growing Revenue, Shrinking Profits</b></p><p><blockquote><b>收入增长，利润萎缩</b></blockquote></p><p> Squarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.</p><p><blockquote>Squarespace 2020 年的收入为 6.21 亿美元，高于去年同期的 4.85 亿美元。上一财年收入增长了 28%，高于上一财年 24% 的增长率。</blockquote></p><p> The company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.</p><p><blockquote>该公司将 94% 的收入归类为基于订阅的收入。Squarespace在2020年增加了约70万个新的独特订阅，该公司透露，超过三分之二的总订阅是年度订阅。</blockquote></p><p> About 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.</p><p><blockquote>Squarespace 去年约 70% 的收入来自美国，其余来自国际。</blockquote></p><p> Squarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.</p><p><blockquote>Squarespace去年实现盈利，净利润约为3060万美元，但利润低于2019年的5820万美元。MKM Partners 分析师罗希特-库尔卡尼（Rohit Kulkarni）写道，该公司的 “基本面凸显了盈利能力和规模增长的罕见组合”。</blockquote></p><p> Despite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.</p><p><blockquote>尽管年度盈利，Squarespace 在 2021 年第一季度净亏损 1010 万美元，而去年同期亏损 110 万美元。该公司在2020年最后三个季度的每个季度都公布了利润。</blockquote></p><p> <b>Competition Aplenty</b></p><p><blockquote><b>竞争充足</b></blockquote></p><p> The company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like&nbsp;Wix.com&nbsp;(ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse&nbsp;Shopify&nbsp;(ticker: SHOP),&nbsp;which lets businesses set up online shops.</p><p><blockquote>根据其文件，该公司与电子商务行业的各种不同参与者竞争。Squarespace 的竞争对手包括 Wix.com（股票代码：WIX）和 Square 的 Weebly 等网络创建平台，以及让企业开设网上商店的电子商务巨头 Shopify（股票代码：SHOP）。</blockquote></p><p> Squarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.</p><p><blockquote>Squarespace 还评级了 GoDaddy (GDDY) 等提供域名工具的竞争对手，以及提供电子邮件营销和日程安排功能的竞争对手，同时认为自己的 “全面、一体化平台、多渠道商务能力 ”是一项资产。</blockquote></p><p> Jefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.</p><p><blockquote>Jefferies 分析师 Brent Thill 指出，Wix 比 Squarespace 更大，去年的收入为 9.89 亿美元，而 Squarespace 的收入为 6.21 亿美元。此外，Squarespace 去年的收入与 Wix 2018 年的收入相似，但 Wix 在这一规模上的增长速度更快，而且没有受益于大流行病推动的更广泛的电子商务加速发展，他写道。</blockquote></p><p> <b>On the Menu</b></p><p><blockquote><b>在菜单上</b></blockquote></p><p> SquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.</p><p><blockquote>SquareSpace最近完成了对Tock的4.15亿美元收购，Tock是一家专注于餐饮和酒店业的公司。Tock 的服务允许企业管理预订、外卖、活动票务等。</blockquote></p><p> This part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.</p><p><blockquote>MKM 的 Kulkarni 表示，这部分业务可能会让 SquareSpace 与更多科技巨头竞争。</blockquote></p><p> “SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash&nbsp;(DASH) and&nbsp;Grubhub&nbsp;(GRUB),&nbsp;along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.</p><p><blockquote>“他写道：”SquareSpace 与 Tock 合作的产品面临着来自 Uber Eats (UBER)、DoorDash (DASH) 和 Grubhub (GRUB) 等外卖服务以及 TouchBistro 和 Toast 等其他餐厅[客户关系管理]服务的竞争。</blockquote></p><p> At the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.</p><p><blockquote>与此同时，此次收购也是 Squarespace “巧妙多元化的一个例子，不仅在网上销售实体商品，还增加了日历/日程安排功能（餐厅或健身房预订）、内容销售和订阅”。</blockquote></p><p> <b>Marketing Bucks</b></p><p><blockquote><b>营销资金</b></blockquote></p><p> Squarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.</p><p><blockquote>Squarespace 的营销和销售成本增长速度远远快于收入增长速度。该公司去年的此类费用为 310 万美元，高于 2019 年的 170 万美元，增长了 45%，而同期收入增长了 28%。</blockquote></p><p></p><p> The company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”</p><p><blockquote>尽管 Squarespace 在招股说明书中指出，该公司广泛宣传其服务，使用 “在线关键词搜索、赞助和名人代言、电视、播客、平面广告和在线广告、电子邮件和社交媒体营销 ”，但该公司的播客广告可能对经常收听的听众并不陌生。</blockquote></p><p> Among its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.</p><p><blockquote>在风险因素中，Squarespace 指出Alphabet（GOOGL）旗下的谷歌有可能改变其算法或提高其搜索引擎营销工具的成本。</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>4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace 直接上市前需要了解的 4 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\">\n4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace 直接上市前需要了解的 4 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 15:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.</p><p><blockquote>疫情促使许多小企业首次获得在线店面，创造了一股电子商务浪潮，帮助网站创建平台Squarespace Inc.加速了其收入增长。</blockquote></p><p> Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.</p><p><blockquote>现在，Squarespace将测试作为一家上市公司的电子商务势头的弹性。其股票定于周三开始在纽约证券交易所直接上市，股票代码为 SQSP。</blockquote></p><p> The company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.</p><p><blockquote>该公司提供各种网站创建工具，包括域名、电子商务功能和营销功能。Squarespace 的目标是与网络专业知识有限的小型企业以及需要更大灵活性来根据自身需求进行定制的 “大品牌 ”合作。</blockquote></p><p> Squarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in&nbsp;its filing with the Securities and Exchange Commission.</p><p><blockquote>Squarespace 在提交给美国证券交易委员会的文件中表示，Squarespace 认为自己正在顺应多种趋势，包括企业越来越需要与客户保持直接关系，以及越来越重视 DIY 解决方案，这些解决方案 “正在迅速取代昂贵的代理机构，使同等的设计质量开箱即用，人人都能获得且易于使用”。</blockquote></p><p> The company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.</p><p><blockquote>该公司在3月份的一轮融资中筹集了3亿美元，使该公司的企业估值达到100亿美元，并且没有像它所说的那样筹集任何新的资金。以下是您需要了解的关于该公司的其他信息。</blockquote></p><p> <b>Growing Revenue, Shrinking Profits</b></p><p><blockquote><b>收入增长，利润萎缩</b></blockquote></p><p> Squarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.</p><p><blockquote>Squarespace 2020 年的收入为 6.21 亿美元，高于去年同期的 4.85 亿美元。上一财年收入增长了 28%，高于上一财年 24% 的增长率。</blockquote></p><p> The company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.</p><p><blockquote>该公司将 94% 的收入归类为基于订阅的收入。Squarespace在2020年增加了约70万个新的独特订阅，该公司透露，超过三分之二的总订阅是年度订阅。</blockquote></p><p> About 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.</p><p><blockquote>Squarespace 去年约 70% 的收入来自美国，其余来自国际。</blockquote></p><p> Squarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.</p><p><blockquote>Squarespace去年实现盈利，净利润约为3060万美元，但利润低于2019年的5820万美元。MKM Partners 分析师罗希特-库尔卡尼（Rohit Kulkarni）写道，该公司的 “基本面凸显了盈利能力和规模增长的罕见组合”。</blockquote></p><p> Despite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.</p><p><blockquote>尽管年度盈利，Squarespace 在 2021 年第一季度净亏损 1010 万美元，而去年同期亏损 110 万美元。该公司在2020年最后三个季度的每个季度都公布了利润。</blockquote></p><p> <b>Competition Aplenty</b></p><p><blockquote><b>竞争充足</b></blockquote></p><p> The company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like&nbsp;Wix.com&nbsp;(ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse&nbsp;Shopify&nbsp;(ticker: SHOP),&nbsp;which lets businesses set up online shops.</p><p><blockquote>根据其文件，该公司与电子商务行业的各种不同参与者竞争。Squarespace 的竞争对手包括 Wix.com（股票代码：WIX）和 Square 的 Weebly 等网络创建平台，以及让企业开设网上商店的电子商务巨头 Shopify（股票代码：SHOP）。</blockquote></p><p> Squarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.</p><p><blockquote>Squarespace 还评级了 GoDaddy (GDDY) 等提供域名工具的竞争对手，以及提供电子邮件营销和日程安排功能的竞争对手，同时认为自己的 “全面、一体化平台、多渠道商务能力 ”是一项资产。</blockquote></p><p> Jefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.</p><p><blockquote>Jefferies 分析师 Brent Thill 指出，Wix 比 Squarespace 更大，去年的收入为 9.89 亿美元，而 Squarespace 的收入为 6.21 亿美元。此外，Squarespace 去年的收入与 Wix 2018 年的收入相似，但 Wix 在这一规模上的增长速度更快，而且没有受益于大流行病推动的更广泛的电子商务加速发展，他写道。</blockquote></p><p> <b>On the Menu</b></p><p><blockquote><b>在菜单上</b></blockquote></p><p> SquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.</p><p><blockquote>SquareSpace最近完成了对Tock的4.15亿美元收购，Tock是一家专注于餐饮和酒店业的公司。Tock 的服务允许企业管理预订、外卖、活动票务等。</blockquote></p><p> This part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.</p><p><blockquote>MKM 的 Kulkarni 表示，这部分业务可能会让 SquareSpace 与更多科技巨头竞争。</blockquote></p><p> “SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash&nbsp;(DASH) and&nbsp;Grubhub&nbsp;(GRUB),&nbsp;along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.</p><p><blockquote>“他写道：”SquareSpace 与 Tock 合作的产品面临着来自 Uber Eats (UBER)、DoorDash (DASH) 和 Grubhub (GRUB) 等外卖服务以及 TouchBistro 和 Toast 等其他餐厅[客户关系管理]服务的竞争。</blockquote></p><p> At the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.</p><p><blockquote>与此同时，此次收购也是 Squarespace “巧妙多元化的一个例子，不仅在网上销售实体商品，还增加了日历/日程安排功能（餐厅或健身房预订）、内容销售和订阅”。</blockquote></p><p> <b>Marketing Bucks</b></p><p><blockquote><b>营销资金</b></blockquote></p><p> Squarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.</p><p><blockquote>Squarespace 的营销和销售成本增长速度远远快于收入增长速度。该公司去年的此类费用为 310 万美元，高于 2019 年的 170 万美元，增长了 45%，而同期收入增长了 28%。</blockquote></p><p></p><p> The company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”</p><p><blockquote>尽管 Squarespace 在招股说明书中指出，该公司广泛宣传其服务，使用 “在线关键词搜索、赞助和名人代言、电视、播客、平面广告和在线广告、电子邮件和社交媒体营销 ”，但该公司的播客广告可能对经常收听的听众并不陌生。</blockquote></p><p> Among its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.</p><p><blockquote>在风险因素中，Squarespace 指出Alphabet（GOOGL）旗下的谷歌有可能改变其算法或提高其搜索引擎营销工具的成本。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/squarespace-direct-listing-51621376597?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":{"SQSP":"Squarespace Inc."},"source_url":"https://www.barrons.com/articles/squarespace-direct-listing-51621376597?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158638540","content_text":"The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.\nNow Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.\nThe company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.\nSquarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in its filing with the Securities and Exchange Commission.\nThe company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.\nGrowing Revenue, Shrinking Profits\nSquarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.\nThe company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.\nAbout 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.\nSquarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.\nDespite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.\nCompetition Aplenty\nThe company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like Wix.com (ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse Shopify (ticker: SHOP), which lets businesses set up online shops.\nSquarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.\nJefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.\nOn the Menu\nSquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.\nThis part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.\n“SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash (DASH) and Grubhub (GRUB), along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.\nAt the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.\nMarketing Bucks\nSquarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.\nThe company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”\nAmong its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.","news_type":1,"symbols_score_info":{"SQSP":0.9}},"isVote":1,"tweetType":1,"viewCount":800,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194966760,"gmtCreate":1621335118650,"gmtModify":1634192367321,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194966760","repostId":"2136738931","repostType":4,"repost":{"id":"2136738931","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":1621318800,"share":"https://www.laohunote.com/m/news/2136738931?lang=zh_CN&edition=full","pubTime":"2021-05-18 14:20","market":"hk","language":"en","title":"JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流在香港首次公开募股，筹集高达34亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2136738931","media":"Tiger Newspress","summary":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering  to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion  if the deal is priced at the top end.JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics' offering is expected to be the second multibilli","content":"<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始以每股 39.36 港元至 43.36 港元的价格向散户投资者推销其香港首次公开募股 (IPO)，如果该交易定价为高端，该公司可能会筹集高达 264 亿港元（34 亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开募股将于周一至周五进行。其股票预计将于5月28日在香港联交所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大股本的10%。如果需求强劲，可以选择再出售最多 9140 万股股票。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，且认购数目须为下表所列其中一个数目。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的此次发行预计将是今年香港证券交易所第二次数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手IPO是今年迄今为止全球规模最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八家基石投资者已承诺购买总价值 15 亿美元的京东物流股票，如果交易定价为高端，这将占其全球发行的约 39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美国银行证券、高盛和海通国际担任此次交易的联席保荐人，瑞银担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通，阿里巴巴-SW集团控股是其股东之一，去年9月通过二次上市在香港上市时，市值为1807亿港元。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，继2018年亏损28亿元人民币（4.35亿美元）、2019年亏损22亿元人民币和2020年亏损40亿元人民币之后，预计今年净亏损将更大。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利之上，因此在中短期内，我们的盈利能力可能会出现大幅波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求将自己与中通和韵达控股等其他参与者区分开来，宣传自己是一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶车辆来提高送货速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票出售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务以抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师Charlie Chen表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰速运本月震惊了市场，此前该公司预测第一季度亏损11亿元人民币，引发了股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎下跌了一半。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰速运和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>按支出计算，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司China Insights Consultancy的数据显示，到2025年，这一数字预计将增至19.3万亿元人民币。</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>JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流在香港首次公开募股，筹集高达34亿美元</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\">\nJD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流在香港首次公开募股，筹集高达34亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-18 14:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始以每股 39.36 港元至 43.36 港元的价格向散户投资者推销其香港首次公开募股 (IPO)，如果该交易定价为高端，该公司可能会筹集高达 264 亿港元（34 亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开募股将于周一至周五进行。其股票预计将于5月28日在香港联交所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大股本的10%。如果需求强劲，可以选择再出售最多 9140 万股股票。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，且认购数目须为下表所列其中一个数目。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的此次发行预计将是今年香港证券交易所第二次数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手IPO是今年迄今为止全球规模最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八家基石投资者已承诺购买总价值 15 亿美元的京东物流股票，如果交易定价为高端，这将占其全球发行的约 39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美国银行证券、高盛和海通国际担任此次交易的联席保荐人，瑞银担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通，阿里巴巴-SW集团控股是其股东之一，去年9月通过二次上市在香港上市时，市值为1807亿港元。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，继2018年亏损28亿元人民币（4.35亿美元）、2019年亏损22亿元人民币和2020年亏损40亿元人民币之后，预计今年净亏损将更大。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利之上，因此在中短期内，我们的盈利能力可能会出现大幅波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求将自己与中通和韵达控股等其他参与者区分开来，宣传自己是一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶车辆来提高送货速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票出售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务以抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师Charlie Chen表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰速运本月震惊了市场，此前该公司预测第一季度亏损11亿元人民币，引发了股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎下跌了一半。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰速运和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>按支出计算，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司China Insights Consultancy的数据显示，到2025年，这一数字预计将增至19.3万亿元人民币。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02618":"京东物流"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136738931","content_text":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.（Click here To apply for the JD Logistics Shares）JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.","news_type":1,"symbols_score_info":{"02618":0.9}},"isVote":1,"tweetType":1,"viewCount":954,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192479291,"gmtCreate":1621226402713,"gmtModify":1634193227955,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/192479291","repostId":"1177712976","repostType":4,"repost":{"id":"1177712976","kind":"news","pubTimestamp":1621213509,"share":"https://www.laohunote.com/m/news/1177712976?lang=zh_CN&edition=full","pubTime":"2021-05-17 09:05","market":"us","language":"en","title":"IPO Preview: SquareSpace, Procure Technologies And Oatly Are This Week's Offerings<blockquote>IPO 预览：SquareSpace、Procure Technologies 和 Oatly 是本周的产品</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177712976","media":"benzinga","summary":"There are only three offerings scheduled for the trading week beginning May 17. The offerings include an online platform for businesses, a construction management company and the global leader of oat milk.SquareSpace has 3.7 million unique subscribers in 180 countries. Revenue was $621 million for SquareSpace in 2020, up 28% year-over-year. In the first quarter of 2021, revenue for SquareSpace was $179.6 million.In March, SquareSpace acquired Tock, a hospitality platform and application system, ","content":"<p><div> There are only three offerings scheduled for the trading week beginning May 17. The offerings include an online platform for businesses, a construction management company and the global leader of oat ...</p><p><blockquote><div>从 5 月 17 日开始的交易周只安排了三次发行。这些产品包括一个面向企业的在线平台、一家施工管理公司和燕麦的全球领导者……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>IPO Preview: SquareSpace, Procure Technologies And Oatly Are This Week's Offerings<blockquote>IPO 预览：SquareSpace、Procure Technologies 和 Oatly 是本周的产品</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\">\nIPO Preview: SquareSpace, Procure Technologies And Oatly Are This Week's Offerings<blockquote>IPO 预览：SquareSpace、Procure Technologies 和 Oatly 是本周的产品</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-17 09:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> There are only three offerings scheduled for the trading week beginning May 17. The offerings include an online platform for businesses, a construction management company and the global leader of oat ...</p><p><blockquote><div>从 5 月 17 日开始的交易周只安排了三次发行。这些产品包括一个面向企业的在线平台、一家施工管理公司和燕麦的全球领导者……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">benzinga</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":"https://static.tigerbbs.com/6a531a6f7b6d1339dada82e8a701e8cf","relate_stocks":{"SQSP":"Squarespace Inc.","PCOR":"Procore Technologies","OTLY":"Oatly Group AB"},"source_url":"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177712976","content_text":"There are only three offerings scheduled for the trading week beginning May 17. The offerings include an online platform for businesses, a construction management company and the global leader of oat milk.SquareSpace:Offering an all-in-one platform for small and medium sized businesses to manage their online presence,SquareSpace is one of the largest in the market. The companyseeksto help people stand out and succeed by offering help with online presence, commerce and marketing.SquareSpace has 3.7 million unique subscribers in 180 countries. Revenue was $621 million for SquareSpace in 2020, up 28% year-over-year. In the first quarter of 2021, revenue for SquareSpace was $179.6 million.In March, SquareSpace acquired Tock, a hospitality platform and application system, for $415 million, which could help with additional expansion.The company estimates that 46% of U.S. small and midsize businesses are not online today, offering room for expansion for SquareSpace.SquareSpace is selling 40.4 million shares in adirect listing.Procure Technologies:Cloud-based construction management software company Procure Technologies plans to sell 9.5 million shares at a price point of $60 to $65. The company is helping digitize a construction industry that still has low market penetration.Procure had $400 million in revenue in 2020, up 38% year-over-year. Procure has over 800 customers that represent $100,000 in annual revenue. Over 60% of customers subscribe to three or more Procure products. The company reports 1.6 million users in over 125 countries.Since 2014, Procure has helped manage over 1 million projects representing over $1 trillion in construction ideas. The total addressable market size for construction software is listed as $12.4 billion and growing. The construction market represents 13% of the global gross domestic product.Oatly Group:Theworld’s largest oatmilk company Oatly Group is going publicwith an offering of 84.4 million ADS at a price point of $15 to $17.The company offers dozens of products at over 60,000 retail points of sale and more than 32,000 coffee shops. Customers include Starbucks Corp ,Target Corporation and Tesco.Oatly was founded in Sweden, where the company commands a strong 53% market share for alternative dairy products. In the United States, Oatly had 182% year-over-year growth in the retail segment for 2020.The company is using a food service-led expansion strategy to enter new markets and gain brand recognition. Oatly entered China in 2018 and is now present in over 8,000 locations through partnerships with Starbucks China and Alibaba Group Holding.The company had revenue of $421.4 million in 2020, up 106.5% year-over-year. Revenue for the first three months of 2021 was $140.1 million, up 66.2% year-over-year. Revenue in 2020 was split 64% EMEA region, 24% Americas and 13% Asia. The company got 71% of 2020 revenue from the food retail segment and 25% from foodservice.The global retail milk industry is worth an estimated $179 billion.","news_type":1,"symbols_score_info":{"OTLY":0.9,"SQSP":0.9,"PCOR":0.9}},"isVote":1,"tweetType":1,"viewCount":730,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198257205,"gmtCreate":1620964625707,"gmtModify":1634194903961,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/198257205","repostId":"2135945620","repostType":4,"isVote":1,"tweetType":1,"viewCount":1445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":138677150,"gmtCreate":1621939404470,"gmtModify":1634185340372,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Like and comment thanks","listText":"Like and comment thanks","text":"Like and comment 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and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/345308642","repostId":"2127093090","repostType":4,"isVote":1,"tweetType":1,"viewCount":475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137638007,"gmtCreate":1622341845809,"gmtModify":1634102210452,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Pls like and comment","listText":"Pls like and comment","text":"Pls like and 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and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898240395","repostId":"2157492988","repostType":4,"isVote":1,"tweetType":1,"viewCount":2125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192479291,"gmtCreate":1621226402713,"gmtModify":1634193227955,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/192479291","repostId":"1177712976","repostType":4,"repost":{"id":"1177712976","kind":"news","pubTimestamp":1621213509,"share":"https://www.laohunote.com/m/news/1177712976?lang=zh_CN&edition=full","pubTime":"2021-05-17 09:05","market":"us","language":"en","title":"IPO Preview: SquareSpace, Procure Technologies And Oatly Are This Week's Offerings<blockquote>IPO 预览：SquareSpace、Procure Technologies 和 Oatly 是本周的产品</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177712976","media":"benzinga","summary":"There are only three offerings scheduled for the trading week beginning May 17. The offerings include an online platform for businesses, a construction management company and the global leader of oat milk.SquareSpace has 3.7 million unique subscribers in 180 countries. Revenue was $621 million for SquareSpace in 2020, up 28% year-over-year. In the first quarter of 2021, revenue for SquareSpace was $179.6 million.In March, SquareSpace acquired Tock, a hospitality platform and application system, ","content":"<p><div> There are only three offerings scheduled for the trading week beginning May 17. The offerings include an online platform for businesses, a construction management company and the global leader of oat ...</p><p><blockquote><div>从 5 月 17 日开始的交易周只安排了三次发行。这些产品包括一个面向企业的在线平台、一家施工管理公司和燕麦的全球领导者……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>IPO Preview: SquareSpace, Procure Technologies And Oatly Are This Week's Offerings<blockquote>IPO 预览：SquareSpace、Procure Technologies 和 Oatly 是本周的产品</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\">\nIPO Preview: SquareSpace, Procure Technologies And Oatly Are This Week's Offerings<blockquote>IPO 预览：SquareSpace、Procure Technologies 和 Oatly 是本周的产品</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-17 09:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> There are only three offerings scheduled for the trading week beginning May 17. The offerings include an online platform for businesses, a construction management company and the global leader of oat ...</p><p><blockquote><div>从 5 月 17 日开始的交易周只安排了三次发行。这些产品包括一个面向企业的在线平台、一家施工管理公司和燕麦的全球领导者……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings\">benzinga</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":"https://static.tigerbbs.com/6a531a6f7b6d1339dada82e8a701e8cf","relate_stocks":{"SQSP":"Squarespace Inc.","PCOR":"Procore Technologies","OTLY":"Oatly Group AB"},"source_url":"https://www.benzinga.com/news/21/05/21143868/ipo-preview-squarespace-procure-technologies-and-oatly-are-this-weeks-offerings","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177712976","content_text":"There are only three offerings scheduled for the trading week beginning May 17. The offerings include an online platform for businesses, a construction management company and the global leader of oat milk.SquareSpace:Offering an all-in-one platform for small and medium sized businesses to manage their online presence,SquareSpace is one of the largest in the market. The companyseeksto help people stand out and succeed by offering help with online presence, commerce and marketing.SquareSpace has 3.7 million unique subscribers in 180 countries. Revenue was $621 million for SquareSpace in 2020, up 28% year-over-year. In the first quarter of 2021, revenue for SquareSpace was $179.6 million.In March, SquareSpace acquired Tock, a hospitality platform and application system, for $415 million, which could help with additional expansion.The company estimates that 46% of U.S. small and midsize businesses are not online today, offering room for expansion for SquareSpace.SquareSpace is selling 40.4 million shares in adirect listing.Procure Technologies:Cloud-based construction management software company Procure Technologies plans to sell 9.5 million shares at a price point of $60 to $65. The company is helping digitize a construction industry that still has low market penetration.Procure had $400 million in revenue in 2020, up 38% year-over-year. Procure has over 800 customers that represent $100,000 in annual revenue. Over 60% of customers subscribe to three or more Procure products. The company reports 1.6 million users in over 125 countries.Since 2014, Procure has helped manage over 1 million projects representing over $1 trillion in construction ideas. The total addressable market size for construction software is listed as $12.4 billion and growing. The construction market represents 13% of the global gross domestic product.Oatly Group:Theworld’s largest oatmilk company Oatly Group is going publicwith an offering of 84.4 million ADS at a price point of $15 to $17.The company offers dozens of products at over 60,000 retail points of sale and more than 32,000 coffee shops. Customers include Starbucks Corp ,Target Corporation and Tesco.Oatly was founded in Sweden, where the company commands a strong 53% market share for alternative dairy products. In the United States, Oatly had 182% year-over-year growth in the retail segment for 2020.The company is using a food service-led expansion strategy to enter new markets and gain brand recognition. Oatly entered China in 2018 and is now present in over 8,000 locations through partnerships with Starbucks China and Alibaba Group Holding.The company had revenue of $421.4 million in 2020, up 106.5% year-over-year. Revenue for the first three months of 2021 was $140.1 million, up 66.2% year-over-year. Revenue in 2020 was split 64% EMEA region, 24% Americas and 13% Asia. The company got 71% of 2020 revenue from the food retail segment and 25% from foodservice.The global retail milk industry is worth an estimated $179 billion.","news_type":1,"symbols_score_info":{"OTLY":0.9,"SQSP":0.9,"PCOR":0.9}},"isVote":1,"tweetType":1,"viewCount":730,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104942904,"gmtCreate":1620352154208,"gmtModify":1634205845836,"author":{"id":"3573034808387884","authorId":"3573034808387884","name":"lucasleejh","avatar":"https://static.tigerbbs.com/fedeef2b40f396bb56bfbc8a74a31d12","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573034808387884","idStr":"3573034808387884"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/104942904","repostId":"1165311198","repostType":4,"isVote":1,"tweetType":1,"viewCount":761,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}