sayseng的个人主页 - 老虎社区

sayseng

sayseng

暂无个人介绍

IP属地：未知

6关注

21粉丝

0主题

0勋章

2021-06-20

Like and comment please

抱歉，原内容已删除

2021-07-14

Like and comment

抱歉，原内容已删除

2021-08-01

Ok

抱歉，原内容已删除

2021-06-09

Like and comment please

S&P 500 closes little changed as "meme stocks" extend rally<blockquote>随着“模因股”延续涨势，标普500收盘变化不大</blockquote>

2021-07-20

Like and comment

抱歉，原内容已删除

2021-07-18

Like and comment please

抱歉，原内容已删除

2021-06-30

Like and comment pls

抱歉，原内容已删除

2021-06-05

Like and comment please

U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>

2021-04-28

Like and comment please, thanks!

抱歉，原内容已删除

2021-04-06

Like and comment please, thanks!

Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</blockquote>

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3573211284448483","uuid":"3573211284448483","gmtCreate":1610117384659,"gmtModify":1611890284297,"name":"sayseng","pinyin":"sayseng","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":21,"headSize":6,"tweetSize":173,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.05.24","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"228c86a078844d74991fff2b7ab2428d-2","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资总监虎","description":"证券账户累计交易金额达到30万美元","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"80.22%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.90%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":6,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":853930198,"gmtCreate":1634751281928,"gmtModify":1634751282380,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RDUS\">$Radius Health(RDUS)$</a>Goldman Sachs Adjusts Radius Health PT to $33 From $31, Maintains Buy Rating","listText":"<a href=\"https://laohu8.com/S/RDUS\">$Radius Health(RDUS)$</a>Goldman Sachs Adjusts Radius Health PT to $33 From $31, Maintains Buy Rating","text":"$Radius Health(RDUS)$Goldman Sachs Adjusts Radius Health PT to $33 From $31, Maintains Buy Rating","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/853930198","isVote":1,"tweetType":1,"viewCount":3892,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":802701614,"gmtCreate":1627801579738,"gmtModify":1631889470690,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/802701614","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":2486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802104780,"gmtCreate":1627727409540,"gmtModify":1631889470695,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/802104780","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":3198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806682554,"gmtCreate":1627653675278,"gmtModify":1631889470698,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806682554","repostId":"1125288486","repostType":4,"isVote":1,"tweetType":1,"viewCount":2810,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808865129,"gmtCreate":1627569332761,"gmtModify":1631889470700,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/808865129","repostId":"1165497040","repostType":4,"isVote":1,"tweetType":1,"viewCount":2150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801375267,"gmtCreate":1627485391859,"gmtModify":1631889470667,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/801375267","repostId":"1179923360","repostType":4,"isVote":1,"tweetType":1,"viewCount":2230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809735558,"gmtCreate":1627392822074,"gmtModify":1631889470704,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809735558","repostId":"2154187979","repostType":4,"isVote":1,"tweetType":1,"viewCount":2319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800492444,"gmtCreate":1627311002988,"gmtModify":1631889470708,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/800492444","repostId":"2154957883","repostType":4,"isVote":1,"tweetType":1,"viewCount":3283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174454794,"gmtCreate":1627131534018,"gmtModify":1631889470680,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174454794","repostId":"1109439356","repostType":4,"isVote":1,"tweetType":1,"viewCount":2229,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175143053,"gmtCreate":1627016378572,"gmtModify":1631889470718,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175143053","repostId":"1164478982","repostType":4,"isVote":1,"tweetType":1,"viewCount":2272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172296749,"gmtCreate":1626961626481,"gmtModify":1631889470716,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"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":0,"repostSize":0,"link":"https://laohu8.com/post/172296749","repostId":"1175825882","repostType":4,"isVote":1,"tweetType":1,"viewCount":1032,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176381606,"gmtCreate":1626862236905,"gmtModify":1631889470722,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like 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/176381606","repostId":"2153612212","repostType":4,"isVote":1,"tweetType":1,"viewCount":1188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171457542,"gmtCreate":1626759325686,"gmtModify":1631889470724,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/171457542","repostId":"2152652683","repostType":4,"isVote":1,"tweetType":1,"viewCount":1115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171100737,"gmtCreate":1626709580029,"gmtModify":1631889470727,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171100737","repostId":"1146536243","repostType":4,"repost":{"id":"1146536243","kind":"news","pubTimestamp":1626683272,"share":"https://www.laohu8.com/m/news/1146536243?lang=zh_CN&edition=full","pubTime":"2021-07-19 16:27","market":"us","language":"en","title":"Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146536243","media":"zerohedge","summary":"This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","content":"<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为这个经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到市场的激烈争论。每一项都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情造成了有记录以来最大幅度的产出下降。随后，在政策支持的帮助下，经济活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种暴力的下跌和上涨从未允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场中的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得光滑和抛光。2003-07年的周期以大萧条以来最大的银行和房地产危机结束。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言喻的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么我们使用术语“周期”。经济和市场往往遵循周期性模式，这些模式往往会在市场表现中显现出来。我们关心的是那些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等周期后期条件？是的。由此产生的股票、信贷、收益率和收益率曲线的低谷是否符合市场和经济低点之间的通常节奏？他们做到了。随后反弹的领头羊是否是通常的早期周期赢家，如小型股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者这些事情实际上是正常的。如果到目前为止已经发生了很多“正常”的循环行为，那么它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏的推进，这些模式应该会发生变化。正如我的同事迈克尔·威尔逊所指出的，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅16个月。我们看到当前状况与2004年上半年有许多相似之处，2004年上半年是大幅通货再膨胀反弹之后的周期中期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（见增长恐慌周年纪念，2021年7月11日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为人们总能找到适合他们特定周期观点的指标，所以我们长期以来一直是综合指数的粉丝。这就是我们的“周期模型”，它结合了美国宏观、信贷周期和企业侵略性的十个指标，以衡量我们在市场周期中的位置。在2019年6月进入周期后期“低迷”和2020年4月进入周期早期“修复”后，该指数飙升。<b>它上升得如此之快，以至于已经过了下一个阶段（“复苏”），直接进入了“扩张”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>这很不寻常。“扩张”意味着捕捉“比正常情况更好且正在改善”的条件，<b>自1980年以来，“低迷”结束后平均需要35个月才能实现这一目标</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这是我们的论点，它体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，信贷相对于其他风险资产越差；信贷从“繁荣”中获得的收益较少，如果下一次衰退提前到来，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多的供应</b>在我们周期模型的“扩张”阶段，美国IG和HY Credit N1200万超额回报分别比平均水平差29个基点和161个基点。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现却参差不齐</b>投资者应该尝试承担违约风险而不是利差风险：我们的信用策略师喜欢持有CDX HY 0-15%，并用CDX IG付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合更加平衡</b>我们看好美国和欧洲的医疗保健行业，因为该行业具有几个良好的因素：质量、低估值、高利差和低波动性。从全球来看，欧洲和日本的股市往往跑赢“中期周期”，我们认为它们可以再次这样做。</li><li><b>利率对复苏过于悲观。在我们周期模型的“扩张”阶段，美国10年期国债1200万奈拉回报率比平均水平低97个基点</b>.Guneet Dhingra和我们的美国利率策略团队在全球资产配置中转移了跑输大盘美国10年期国债，而我们反过来又转移了跑输大盘政府债券。</li></ul>这种循环是不寻常的。大多数“正常”周期都是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual<blockquote>摩根士丹利：本轮周期将比往常“更热但更短”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-19 16:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p><p><blockquote>我们认为这个经济周期将是正常的、强劲的、短暂的。这些假设中的每一个都受到市场的激烈争论。每一项都是我们投资策略的关键。</blockquote></p><p> The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p><p><blockquote>关于周期“常态”的争论是不言自明的。毫不夸张地说，疫情造成了有记录以来最大幅度的产出下降。随后，在政策支持的帮助下，经济活动迅速回升。将这种情况视为独特的，不同于其他周期性经历的理由是，这种暴力的下跌和上涨从未允许传统的“重置”。</blockquote></p><p> But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p><p><blockquote>但市场中的“正常”是一个有趣的概念，记忆的粗糙边缘往往会随着时间的推移而变得光滑和抛光。2003-07年的周期以大萧条以来最大的银行和房地产危机结束。1992-2000年的周期以巨大的股票泡沫破裂、广泛的会计欺诈和难以言喻的悲剧而告终。“正常”周期在理论上很好，但在实践中更难。</blockquote></p><p> Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p><p><blockquote>相反，让我们考虑一下为什么我们使用术语“周期”。经济和市场往往遵循周期性模式，这些模式往往会在市场表现中显现出来。我们关心的是那些模式，如果它们仍然适用，它们可以在不确定的地形中提供有用的指导。</blockquote></p><p> Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p><p><blockquote>去年的衰退之前是否存在收益率曲线倒挂、低波动性、低失业率、高消费者信心和股市广度收窄等周期后期条件？是的。由此产生的股票、信贷、收益率和收益率曲线的低谷是否符合市场和经济低点之间的通常节奏？他们做到了。随后反弹的领头羊是否是通常的早期周期赢家，如小型股和周期性股票、高收益信贷和工业金属？他们是。</blockquote></p><p> If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p><p><blockquote>如果它像鸭子一样走路，像鸭子一样嘎嘎叫，我们认为这是一个正常的循环。或者这些事情实际上是正常的。如果到目前为止已经发生了很多“正常”的循环行为，那么它应该<i>继续</i>这样做。</blockquote></p><p> Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p><p><blockquote>具体来说，这与市场复苏时的表现模式有关。随着复苏的推进，这些模式应该会发生变化。正如我的同事迈克尔·威尔逊所指出的，我们认为我们正在进入周期中期市场，尽管距离经济活动低点仅16个月。我们看到当前状况与2004年上半年有许多相似之处，2004年上半年是大幅通货再膨胀反弹之后的周期中期。重要的是，尽管最近对增长感到担忧，但我们认为全球复苏将继续推进（见增长恐慌周年纪念，2021年7月11日）。</blockquote></p><p> Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p><p><blockquote>因为人们总能找到适合他们特定周期观点的指标，所以我们长期以来一直是综合指数的粉丝。这就是我们的“周期模型”，它结合了美国宏观、信贷周期和企业侵略性的十个指标，以衡量我们在市场周期中的位置。在2019年6月进入周期后期“低迷”和2020年4月进入周期早期“修复”后，该指数飙升。<b>它上升得如此之快，以至于已经过了下一个阶段（“复苏”），直接进入了“扩张”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p><p><blockquote>这很不寻常。“扩张”意味着捕捉“比正常情况更好且正在改善”的条件，<b>自1980年以来，“低迷”结束后平均需要35个月才能实现这一目标</b>它的迅速到来表明，在巨大的政策支持下，经济正在迅速复苏。<b>这也暗示了另一种可能性：这个更热的周期可能会更短。</b>这是我们的论点，它体现在我们的定量测量中。</blockquote></p><p> All this has a number of implications:</p><p><blockquote>所有这些都有许多含义：</blockquote></p><p></p><p> <ul>  <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>  <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>  <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>  <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li> </ul> This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</p><p><blockquote><ul><li><b>周期越短，信贷相对于其他风险资产越差；信贷从“繁荣”中获得的收益较少，如果下一次衰退提前到来，信贷就会面临风险，并且随着企业信心的增强，信贷将面临更多的供应</b>在我们周期模型的“扩张”阶段，美国IG和HY Credit N1200万超额回报分别比平均水平差29个基点和161个基点。</li><li><b>在其中许多时期，尽管违约率仍然很低，但信贷表现却参差不齐</b>投资者应该尝试承担违约风险而不是利差风险：我们的信用策略师喜欢持有CDX HY 0-15%，并用CDX IG付款人利差进行对冲。</li><li><b>在股票方面，我们认为我们的模型支持投资组合更加平衡</b>我们看好美国和欧洲的医疗保健行业，因为该行业具有几个良好的因素：质量、低估值、高利差和低波动性。从全球来看，欧洲和日本的股市往往跑赢“中期周期”，我们认为它们可以再次这样做。</li><li><b>利率对复苏过于悲观。在我们周期模型的“扩张”阶段，美国10年期国债1200万奈拉回报率比平均水平低97个基点</b>.Guneet Dhingra和我们的美国利率策略团队在全球资产配置中转移了跑输大盘美国10年期国债，而我们反过来又转移了跑输大盘政府债券。</li></ul>这种循环是不寻常的。大多数“正常”周期都是。我们认为复苏是可持续的，而且更有可能“更热、更短”。出售国债并相信扩张。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146536243","content_text":"We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.\nThe debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.\nBut 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.\nInstead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.\nWas last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.\nIf it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are. If a lot of 'normal' cycle behavior has played out so far, it should continue to do so.\nSpecifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see The Growth Scare Anniversary, July 11, 2021).\nBecause one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.\nThisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',and since 1980, it has taken an average of 35 months to get there after 'downturn' ends. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.It also hints at another possibility: this hotter cycle could be shorter.This is our thesis, and it’s showing up in our quantitative measure.\nAll this has a number of implications:\n\nThe shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.\nIn many of those periods, more mixed credit performance occurs despite default rates remaining low. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.\nIn equities, we think that our model supports more balance in portfolios. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.\nInterest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.\n\nThis cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":911,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179469781,"gmtCreate":1626571978743,"gmtModify":1631889470732,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/179469781","repostId":"1183956332","repostType":4,"isVote":1,"tweetType":1,"viewCount":875,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170519123,"gmtCreate":1626442166462,"gmtModify":1631889470730,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/170519123","repostId":"1171115394","repostType":4,"isVote":1,"tweetType":1,"viewCount":780,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147588452,"gmtCreate":1626364094376,"gmtModify":1631889470736,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/147588452","repostId":"1164987892","repostType":4,"repost":{"id":"1164987892","kind":"news","pubTimestamp":1626362690,"share":"https://www.laohu8.com/m/news/1164987892?lang=zh_CN&edition=full","pubTime":"2021-07-15 23:24","market":"us","language":"en","title":"AMC and Verb Tech Rise, GameStop Slips Among Meme Stocks in Focus<blockquote>AMC和Verb Tech上涨，游戏驿站在模因股中下滑成为焦点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1164987892","media":"Thestreet","summary":"Shares of meme-stock veteran AMC Entertainment (AMC) and business software provider Verb Technology ","content":"<p>Shares of meme-stock veteran AMC Entertainment&nbsp;(<b>AMC</b>)&nbsp;and&nbsp;business software provider Verb Technology&nbsp;(<b>VERB</b>)&nbsp;rose on Thursday, while&nbsp;GameStop&nbsp;(<b>GME</b>)&nbsp;declined.</p><p><blockquote>模因股票资深人士AMC院线的股票（<b>AMC</b>)和商业软件提供商Verb Technology(<b>动词</b>)周四上涨，而游戏驿站(<b>GME</b>）谢绝了。</blockquote></p><p> AMC, Leawood, Kan., the country’s largest owner of movie theaters and&nbsp;perhaps the second-most-popular meme stock, at last check traded at $34.80, up 4.1%.</p><p><blockquote>堪萨斯州利伍德的AMC。是美国最大的电影院所有者，也可能是第二大最受欢迎的meme股票，最新交易价格为34.80美元，上涨4.1%。</blockquote></p><p> The granddaddy of meme stocks, the Grapevine, Texas, videogame retailer GameStop,&nbsp;recently traded at $166.96, off 0.4%.</p><p><blockquote>模因股票的鼻祖、德克萨斯葡萄藤的视频游戏零售商游戏驿站最近的交易价格为166.96美元，下跌0.4%。</blockquote></p><p> And Verb Technology, American Fork, Utah, recently traded at $2.99, up 20%. It has jumped 32% in the six months through Wednesday.</p><p><blockquote>犹他州American Fork的Verb Technology最近交易价格为2.99美元，上涨20%。截至周三的六个月内，该指数已上涨32%。</blockquote></p><p> Mediaco Holding MDIA, the Indianapolis radio station owner, traded at $7.29, down 9.3%.</p><p><blockquote>印第安纳波利斯广播电台所有者Mediaco Holding MDIA股价为7.29美元，下跌9.3%。</blockquote></p><p> James “Rev Shark” DePorre says in Real Moneythat the meme trading movement is hardly new and not nearly as efficient as the media have led average investors to believe.</p><p><blockquote>James“Rev Shark”DePorre用真钱表示，模因交易运动并不新鲜，也不像媒体让普通投资者相信的那么有效。</blockquote></p><p> \"Learn how to pick your own stocks,” he says. “Social media trading is surprisingly uncreative in finding new stock ideas.\"</p><p><blockquote>“学会如何挑选自己的股票，”他说，“社交媒体交易在寻找新的股票创意方面出奇的缺乏创造性。”</blockquote></p><p> Further, \"The business media likes to portray meme trading as something new, but this sort of trading has been part of markets from their very beginning hundreds of years ago,” DePorre says.</p><p><blockquote>此外，“商业媒体喜欢将模因交易描绘成一种新事物，但这种交易从数百年前一开始就是市场的一部分，”DePorre说。</blockquote></p><p> “There will also be groups that question the conventional wisdom of the professionals that control the market. It is no surprise at all that there are small traders with limited capital who have no interest in the idea that they should hold a diversified portfolio of stocks for the long term.\"</p><p><blockquote>“也会有一些团体质疑控制市场的专业人士的传统智慧。有资金有限的小交易者对他们应该长期持有多元化股票组合的想法不感兴趣，这一点也不奇怪。”</blockquote></p><p> TheStreet.com Founder&nbsp;Jim Cramer also expressed caution&nbsp;this week. Meme stocks “away from AMC and GameStop appear to be crooked,” he said. They seem to be pump and dumps.”</p><p><blockquote>TheStreet.com创始人吉姆·克莱默本周也表达了谨慎态度。他表示，“远离AMC和游戏驿站的模因股票似乎是弯曲的”。它们似乎是泵和转储。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC and Verb Tech Rise, GameStop Slips Among Meme Stocks in Focus<blockquote>AMC和Verb Tech上涨，游戏驿站在模因股中下滑成为焦点</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC and Verb Tech Rise, GameStop Slips Among Meme Stocks in Focus<blockquote>AMC和Verb Tech上涨，游戏驿站在模因股中下滑成为焦点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-15 23:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Shares of meme-stock veteran AMC Entertainment&nbsp;(<b>AMC</b>)&nbsp;and&nbsp;business software provider Verb Technology&nbsp;(<b>VERB</b>)&nbsp;rose on Thursday, while&nbsp;GameStop&nbsp;(<b>GME</b>)&nbsp;declined.</p><p><blockquote>模因股票资深人士AMC院线的股票（<b>AMC</b>)和商业软件提供商Verb Technology(<b>动词</b>)周四上涨，而游戏驿站(<b>GME</b>）谢绝了。</blockquote></p><p> AMC, Leawood, Kan., the country’s largest owner of movie theaters and&nbsp;perhaps the second-most-popular meme stock, at last check traded at $34.80, up 4.1%.</p><p><blockquote>堪萨斯州利伍德的AMC。是美国最大的电影院所有者，也可能是第二大最受欢迎的meme股票，最新交易价格为34.80美元，上涨4.1%。</blockquote></p><p> The granddaddy of meme stocks, the Grapevine, Texas, videogame retailer GameStop,&nbsp;recently traded at $166.96, off 0.4%.</p><p><blockquote>模因股票的鼻祖、德克萨斯葡萄藤的视频游戏零售商游戏驿站最近的交易价格为166.96美元，下跌0.4%。</blockquote></p><p> And Verb Technology, American Fork, Utah, recently traded at $2.99, up 20%. It has jumped 32% in the six months through Wednesday.</p><p><blockquote>犹他州American Fork的Verb Technology最近交易价格为2.99美元，上涨20%。截至周三的六个月内，该指数已上涨32%。</blockquote></p><p> Mediaco Holding MDIA, the Indianapolis radio station owner, traded at $7.29, down 9.3%.</p><p><blockquote>印第安纳波利斯广播电台所有者Mediaco Holding MDIA股价为7.29美元，下跌9.3%。</blockquote></p><p> James “Rev Shark” DePorre says in Real Moneythat the meme trading movement is hardly new and not nearly as efficient as the media have led average investors to believe.</p><p><blockquote>James“Rev Shark”DePorre用真钱表示，模因交易运动并不新鲜，也不像媒体让普通投资者相信的那么有效。</blockquote></p><p> \"Learn how to pick your own stocks,” he says. “Social media trading is surprisingly uncreative in finding new stock ideas.\"</p><p><blockquote>“学会如何挑选自己的股票，”他说，“社交媒体交易在寻找新的股票创意方面出奇的缺乏创造性。”</blockquote></p><p> Further, \"The business media likes to portray meme trading as something new, but this sort of trading has been part of markets from their very beginning hundreds of years ago,” DePorre says.</p><p><blockquote>此外，“商业媒体喜欢将模因交易描绘成一种新事物，但这种交易从数百年前一开始就是市场的一部分，”DePorre说。</blockquote></p><p> “There will also be groups that question the conventional wisdom of the professionals that control the market. It is no surprise at all that there are small traders with limited capital who have no interest in the idea that they should hold a diversified portfolio of stocks for the long term.\"</p><p><blockquote>“也会有一些团体质疑控制市场的专业人士的传统智慧。有资金有限的小交易者对他们应该长期持有多元化股票组合的想法不感兴趣，这一点也不奇怪。”</blockquote></p><p> TheStreet.com Founder&nbsp;Jim Cramer also expressed caution&nbsp;this week. Meme stocks “away from AMC and GameStop appear to be crooked,” he said. They seem to be pump and dumps.”</p><p><blockquote>TheStreet.com创始人吉姆·克莱默本周也表达了谨慎态度。他表示，“远离AMC和游戏驿站的模因股票似乎是弯曲的”。它们似乎是泵和转储。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/meme-stocks-amc-and-verb-tech-rise-gamestop-falls?puc=yahoo&cm_ven=YAHOO\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","GME":"游戏驿站"},"source_url":"https://www.thestreet.com/investing/meme-stocks-amc-and-verb-tech-rise-gamestop-falls?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164987892","content_text":"Shares of meme-stock veteran AMC Entertainment (AMC) and business software provider Verb Technology (VERB) rose on Thursday, while GameStop (GME) declined.\nAMC, Leawood, Kan., the country’s largest owner of movie theaters and perhaps the second-most-popular meme stock, at last check traded at $34.80, up 4.1%.\nThe granddaddy of meme stocks, the Grapevine, Texas, videogame retailer GameStop, recently traded at $166.96, off 0.4%.\nAnd Verb Technology, American Fork, Utah, recently traded at $2.99, up 20%. It has jumped 32% in the six months through Wednesday.\nMediaco Holding MDIA, the Indianapolis radio station owner, traded at $7.29, down 9.3%.\nJames “Rev Shark” DePorre says in Real Moneythat the meme trading movement is hardly new and not nearly as efficient as the media have led average investors to believe.\n\"Learn how to pick your own stocks,” he says. “Social media trading is surprisingly uncreative in finding new stock ideas.\"\nFurther, \"The business media likes to portray meme trading as something new, but this sort of trading has been part of markets from their very beginning hundreds of years ago,” DePorre says.\n“There will also be groups that question the conventional wisdom of the professionals that control the market. It is no surprise at all that there are small traders with limited capital who have no interest in the idea that they should hold a diversified portfolio of stocks for the long term.\"\nTheStreet.com Founder Jim Cramer also expressed caution this week. Meme stocks “away from AMC and GameStop appear to be crooked,” he said. They seem to be pump and dumps.”","news_type":1,"symbols_score_info":{"GME":0.9,"VERB":0.9,"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":842,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144356227,"gmtCreate":1626269765169,"gmtModify":1631889470739,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/144356227","repostId":"1158673076","repostType":4,"isVote":1,"tweetType":1,"viewCount":976,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145120585,"gmtCreate":1626201916747,"gmtModify":1631889470744,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/145120585","repostId":"1129044669","repostType":4,"isVote":1,"tweetType":1,"viewCount":706,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142028367,"gmtCreate":1626105322060,"gmtModify":1631889470744,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/142028367","repostId":"1175879126","repostType":4,"isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":164315593,"gmtCreate":1624171360012,"gmtModify":1631889470805,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/164315593","repostId":"1199331995","repostType":4,"isVote":1,"tweetType":1,"viewCount":504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144356227,"gmtCreate":1626269765169,"gmtModify":1631889470739,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/144356227","repostId":"1158673076","repostType":4,"isVote":1,"tweetType":1,"viewCount":976,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802701614,"gmtCreate":1627801579738,"gmtModify":1631889470690,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/802701614","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":2486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180514899,"gmtCreate":1623212150411,"gmtModify":1631889470855,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/180514899","repostId":"1128909306","repostType":4,"repost":{"id":"1128909306","kind":"news","pubTimestamp":1623193560,"share":"https://www.laohu8.com/m/news/1128909306?lang=zh_CN&edition=full","pubTime":"2021-06-09 07:06","market":"us","language":"en","title":"S&P 500 closes little changed as \"meme stocks\" extend rally<blockquote>随着“模因股”延续涨势，标普500收盘变化不大</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128909306","media":"reuters","summary":"NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of c","content":"<p>NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.</p><p><blockquote>纽约（路透社）-华尔街股市周二难以勉强维持收盘涨幅，因为缺乏明确的市场催化剂使机构投资者保持观望，而散户交易者则推动了模因股的持续上涨。</blockquote></p><p>All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&amp;P 500 and the Dow closing within about 0.5% of record highs.</p><p><blockquote>美国三大股指均在接近持平或走高的区间震荡时段结束，标普500和道指收盘距离纪录高位约0.5%。</blockquote></p><p>The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.</p><p><blockquote>以科技股为主的纳斯达克综合指数表现最佳，其中亚马逊公司和苹果公司的推动作用最大。</blockquote></p><p>“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”</p><p><blockquote>芝加哥Kingsview资产管理公司的投资组合经理Paul Nolte表示：“我们正在等待通胀数据，等待（美联储）的更多数据，等待财报季。”“今天市场没有太多动力。”</blockquote></p><p>“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.</p><p><blockquote>诺尔特补充道：“我们可能会在7月4日之后才会看到财报季开始。”</blockquote></p><p>The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.</p><p><blockquote>衡量投资者焦虑程度的芝加哥期权交易所波动率指数触及一年多来的最低水平。</blockquote></p><p>Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.</p><p><blockquote>小型股再次受到持续的模因股票零售狂潮的提振，表现优于大型股。</blockquote></p><p>Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.</p><p><blockquote>Clover Health Investments在meme股票中占据榜首，飙升85.8%，成为纳斯达克涨幅最大的股票。</blockquote></p><p>Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath &amp; Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.</p><p><blockquote>其他近期交易量爆炸性的股票，包括游戏驿站公司、Bed Bath&amp;Beyond Inc、Workhorse Group等，收盘上涨7%至12%。</blockquote></p><p>“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”</p><p><blockquote>诺尔特说：“（模因股票）是行动所在，但你把它翻过来，看起来像加密货币，那就一团糟了。”“现在，模因股票正在取代加密货币成为热门，这都是非常宽松的货币政策的结果。”</blockquote></p><p>Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.</p><p><blockquote>美国劳工部和全国独立企业联合会的报告似乎证实了劳动力短缺，尽管需求复苏，这可能会给工资带来上行压力，这是更广泛通胀的前兆。</blockquote></p><p>Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.</p><p><blockquote>市场参与者从周四的消费者价格指数数据中寻找有关通胀的进一步线索，以及通胀如何影响美联储收紧货币政策的时间表。</blockquote></p><p>The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&amp;P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.</p><p><blockquote>道琼工业指数跌30.42点，或0.09%，报34,599.82点；标普500上涨0.74点，涨幅0.02%，至4,227.26点；纳斯达克综合指数上涨43.19点，涨幅0.31%，至13,924.91点。</blockquote></p><p>Of the 11 major sectors in the S&amp;P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.</p><p><blockquote>标普500 11个主要板块中，非必需消费品涨幅最大，公用事业跌幅最大。</blockquote></p><p>Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.</p><p><blockquote>根据中国乘用车协会的数据，特斯拉公司5月份中国制造的电动汽车销量猛增29%，同比增长177%。受此消息影响，该股抹去了最初的涨幅，收盘下跌0.3%。</blockquote></p><p>Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.</p><p><blockquote>西南航空宣布订购34架新737 MAX飞机，提振了波音公司股价，但该飞机制造商股价回吐涨幅，收盘持平。</blockquote></p><p>GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.</p><p><blockquote>游戏驿站是与Reddit驱动的轧空现象关系最密切的公司，预计将在周三收盘后公布季度业绩。</blockquote></p><p>Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.74比1；在纳斯达克，1.66比1的比率有利于上涨者。</blockquote></p><p>The S&amp;P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.</p><p><blockquote>标普500创下54个52周新高和1个新低；纳斯达克综合指数录得172个新高和16个新低。</blockquote></p><p>Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为118.2亿股，而过去20个交易日的平均成交量为107.5亿股。</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>S&P 500 closes little changed as \"meme stocks\" extend rally<blockquote>随着“模因股”延续涨势，标普500收盘变化不大</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\">\nS&P 500 closes little changed as \"meme stocks\" extend rally<blockquote>随着“模因股”延续涨势，标普500收盘变化不大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">reuters</strong><span class=\"h-time small\">2021-06-09 07:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.</p><p><blockquote>纽约（路透社）-华尔街股市周二难以勉强维持收盘涨幅，因为缺乏明确的市场催化剂使机构投资者保持观望，而散户交易者则推动了模因股的持续上涨。</blockquote></p><p>All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&amp;P 500 and the Dow closing within about 0.5% of record highs.</p><p><blockquote>美国三大股指均在接近持平或走高的区间震荡时段结束，标普500和道指收盘距离纪录高位约0.5%。</blockquote></p><p>The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.</p><p><blockquote>以科技股为主的纳斯达克综合指数表现最佳，其中亚马逊公司和苹果公司的推动作用最大。</blockquote></p><p>“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”</p><p><blockquote>芝加哥Kingsview资产管理公司的投资组合经理Paul Nolte表示：“我们正在等待通胀数据，等待（美联储）的更多数据，等待财报季。”“今天市场没有太多动力。”</blockquote></p><p>“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.</p><p><blockquote>诺尔特补充道：“我们可能会在7月4日之后才会看到财报季开始。”</blockquote></p><p>The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.</p><p><blockquote>衡量投资者焦虑程度的芝加哥期权交易所波动率指数触及一年多来的最低水平。</blockquote></p><p>Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.</p><p><blockquote>小型股再次受到持续的模因股票零售狂潮的提振，表现优于大型股。</blockquote></p><p>Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.</p><p><blockquote>Clover Health Investments在meme股票中占据榜首，飙升85.8%，成为纳斯达克涨幅最大的股票。</blockquote></p><p>Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath &amp; Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.</p><p><blockquote>其他近期交易量爆炸性的股票，包括游戏驿站公司、Bed Bath&amp;Beyond Inc、Workhorse Group等，收盘上涨7%至12%。</blockquote></p><p>“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”</p><p><blockquote>诺尔特说：“（模因股票）是行动所在，但你把它翻过来，看起来像加密货币，那就一团糟了。”“现在，模因股票正在取代加密货币成为热门，这都是非常宽松的货币政策的结果。”</blockquote></p><p>Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.</p><p><blockquote>美国劳工部和全国独立企业联合会的报告似乎证实了劳动力短缺，尽管需求复苏，这可能会给工资带来上行压力，这是更广泛通胀的前兆。</blockquote></p><p>Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.</p><p><blockquote>市场参与者从周四的消费者价格指数数据中寻找有关通胀的进一步线索，以及通胀如何影响美联储收紧货币政策的时间表。</blockquote></p><p>The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&amp;P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.</p><p><blockquote>道琼工业指数跌30.42点，或0.09%，报34,599.82点；标普500上涨0.74点，涨幅0.02%，至4,227.26点；纳斯达克综合指数上涨43.19点，涨幅0.31%，至13,924.91点。</blockquote></p><p>Of the 11 major sectors in the S&amp;P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.</p><p><blockquote>标普500 11个主要板块中，非必需消费品涨幅最大，公用事业跌幅最大。</blockquote></p><p>Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.</p><p><blockquote>根据中国乘用车协会的数据，特斯拉公司5月份中国制造的电动汽车销量猛增29%，同比增长177%。受此消息影响，该股抹去了最初的涨幅，收盘下跌0.3%。</blockquote></p><p>Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.</p><p><blockquote>西南航空宣布订购34架新737 MAX飞机，提振了波音公司股价，但该飞机制造商股价回吐涨幅，收盘持平。</blockquote></p><p>GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.</p><p><blockquote>游戏驿站是与Reddit驱动的轧空现象关系最密切的公司，预计将在周三收盘后公布季度业绩。</blockquote></p><p>Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.74比1；在纳斯达克，1.66比1的比率有利于上涨者。</blockquote></p><p>The S&amp;P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.</p><p><blockquote>标普500创下54个52周新高和1个新低；纳斯达克综合指数录得172个新高和16个新低。</blockquote></p><p>Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为118.2亿股，而过去20个交易日的平均成交量为107.5亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-closes-little-changed-as-meme-stocks-extend-rally-idUSL2N2NQ2NX\">reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","CLOV":"Clover Health Corp",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-closes-little-changed-as-meme-stocks-extend-rally-idUSL2N2NQ2NX","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128909306","content_text":"NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&P 500 and the Dow closing within about 0.5% of record highs.The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath & Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.Of the 11 major sectors in the S&P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.The S&P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9,"CLOV":0.9}},"isVote":1,"tweetType":1,"viewCount":456,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171457542,"gmtCreate":1626759325686,"gmtModify":1631889470724,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/171457542","repostId":"2152652683","repostType":4,"isVote":1,"tweetType":1,"viewCount":1115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179469781,"gmtCreate":1626571978743,"gmtModify":1631889470732,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/179469781","repostId":"1183956332","repostType":4,"isVote":1,"tweetType":1,"viewCount":875,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153649069,"gmtCreate":1625023714551,"gmtModify":1631889470724,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/153649069","repostId":"1122418477","repostType":4,"isVote":1,"tweetType":1,"viewCount":491,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112669097,"gmtCreate":1622866282519,"gmtModify":1634097203712,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/112669097","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohu8.com/m/news/1106312903?lang=zh_CN&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</blockquote></p><p></p>","source":"lsy1603787993745","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-06-05 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Renaissance Capital</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LFST":"LifeStance Health Group, Inc.",".DJI":"道琼斯","MNDY":"Monday.com Ltd.",".IXIC":"NASDAQ Composite","BZ":"BOSS直聘","ZETA":"Zeta Global Holdings Corp.","DIBS":"1stdibs.com Inc.","MQ":"Marqeta, Inc.","ZME":"掌门教育","TASK":"TaskUs Inc.",".SPX":"S&P 500 Index"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,"DIBS":0.9,"LFST":0.9,".IXIC":0.9,"MQ":0.9,"BZ":0.9,"ZME":0.9,"MNDY":0.9,"TASK":0.9,"ZETA":0.9}},"isVote":1,"tweetType":1,"viewCount":483,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100105083,"gmtCreate":1619586050442,"gmtModify":1634211533151,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment please, thanks!","listText":"Like and comment please, thanks!","text":"Like and comment please, thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/100105083","repostId":"1124091974","repostType":4,"isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343840214,"gmtCreate":1617706815338,"gmtModify":1634297020009,"author":{"id":"3573211284448483","authorId":"3573211284448483","name":"sayseng","avatar":"https://static.tigerbbs.com/fabcad9e067a8f135e171baf6de7fb58","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573211284448483","authorIdStr":"3573211284448483"},"themes":[],"htmlText":"Like and comment please, thanks!","listText":"Like and comment please, thanks!","text":"Like and comment please, thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/343840214","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","kind":"news","pubTimestamp":1617672655,"share":"https://www.laohu8.com/m/news/1101907559?lang=zh_CN&edition=full","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能肯定地说，所谓的家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机从来都不完全一样。20世纪80年代末，美国近三分之一的储蓄和贷款协会倒闭，最终获得了约2650亿美元的纳税人救助（按2021年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄国的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运营实践如此之大，以至于美联储主席艾伦·格林斯潘说，当LTCM失败时，“他一生中从未见过任何与他所感受到的恐怖相比的事情”。LTCM被认为“太大而不能倒”，他策划了对14家美国主要金融机构的救助。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构的过度杠杆化，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行再一次被认为太大而不能倒，纳税人前来救援。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆发，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于外行人来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思：咨询公司安永估计全球约有10,000个家族理财室，但市场研究公司Campden Research的另一项估计称，管理家族理财室的规模接近6万亿美元。鉴于这6万亿美元是基于2019年的数据，现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的基金经理</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这是潜在的危险。家族理财室通常不受监管。1940年《投资顾问法》规定，拥有15名或更少客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元正在发挥作用，没有人能真正说出谁在管理这笔钱，它投资于什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大举押注某些中国股票，包括电子商务公司唯品会控股有限公司VIPS，-1.19%，美国上市的中国家教公司跟谁学GSX，-10.63%，以及美国媒体公司维亚康姆哥伦比亚广播公司VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。最近股价暴跌，引发Archegos的大量抛售（约300亿美元）。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道Archegos与华尔街的一些大牌合作，包括瑞士信贷集团AGCS，+1.59%，瑞银集团AGUBS，+1.01%，高盛集团Inc.GS，-1.25%，摩根士丹利MS，-0.28%，德意志银行AGDB，+0.74%，野村控股公司NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但由于家族办公室在很大程度上被允许不受监管地运营，谁能说这里真正涉及多少资金以及市场风险有多大？我的同事Mark DeCambre上周报告称，Archegos对不良交易的真实敞口实际上可能接近1000亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险的危险性</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的用武之地。随着Archegos的赌注落空，上述银行考虑到自己的损失，以保证金评级打击了该公司。德意志银行迅速抛售了约40亿美元的持股，而高盛和摩根士丹利据说也已平仓，这或许限制了它们的下跌空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎不是。即便如此，美国证券交易委员会还是对Archegos及其创始人Bill Hwang展开了初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>Fundstrat Global Advisors的研究主管Tom Lee是他认识的“十大最佳投资头脑”之一的评级·黄。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012年，黄禹锡的前对冲基金老虎亚洲管理公司(Tiger Asia Management)认罪并支付了超过6000万美元的罚款，此前该公司被指控利用有关中国银行的非法线索进行交易。美国证券交易委员会禁止黄禹锡代表客户管理资金——实质上是将他踢出对冲基金行业。因此，Hwang开设了Archegos，同样，家族理财室通常不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特·耶伦的关注。她上周表示，需要加强对金融业这些私人角落的监管。她监管的金融稳定监督委员会（FSOC）重新成立了一个工作组，以帮助各机构更好地“共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯（Abe Lincoln）的话，家族办公室——一个价值数万亿美元的行业，在一个比以往任何时候都更加交织在一起的全球金融体系中，很大程度上被允许在阴影中运作——属于超级富豪，由超级富豪经营，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的倒闭可能是也可能不是另一场金融危机的开始。但谁能说其他数千家家族理财室正在用他们的数万亿美元做什么，以及类似的问题是否会爆发？</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</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\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-04-06 09:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能肯定地说，所谓的家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机从来都不完全一样。20世纪80年代末，美国近三分之一的储蓄和贷款协会倒闭，最终获得了约2650亿美元的纳税人救助（按2021年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄国的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运营实践如此之大，以至于美联储主席艾伦·格林斯潘说，当LTCM失败时，“他一生中从未见过任何与他所感受到的恐怖相比的事情”。LTCM被认为“太大而不能倒”，他策划了对14家美国主要金融机构的救助。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构的过度杠杆化，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行再一次被认为太大而不能倒，纳税人前来救援。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆发，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于外行人来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思：咨询公司安永估计全球约有10,000个家族理财室，但市场研究公司Campden Research的另一项估计称，管理家族理财室的规模接近6万亿美元。鉴于这6万亿美元是基于2019年的数据，现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的基金经理</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这是潜在的危险。家族理财室通常不受监管。1940年《投资顾问法》规定，拥有15名或更少客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元正在发挥作用，没有人能真正说出谁在管理这笔钱，它投资于什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大举押注某些中国股票，包括电子商务公司唯品会控股有限公司VIPS，-1.19%，美国上市的中国家教公司跟谁学GSX，-10.63%，以及美国媒体公司维亚康姆哥伦比亚广播公司VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。最近股价暴跌，引发Archegos的大量抛售（约300亿美元）。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道Archegos与华尔街的一些大牌合作，包括瑞士信贷集团AGCS，+1.59%，瑞银集团AGUBS，+1.01%，高盛集团Inc.GS，-1.25%，摩根士丹利MS，-0.28%，德意志银行AGDB，+0.74%，野村控股公司NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但由于家族办公室在很大程度上被允许不受监管地运营，谁能说这里真正涉及多少资金以及市场风险有多大？我的同事Mark DeCambre上周报告称，Archegos对不良交易的真实敞口实际上可能接近1000亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险的危险性</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的用武之地。随着Archegos的赌注落空，上述银行考虑到自己的损失，以保证金评级打击了该公司。德意志银行迅速抛售了约40亿美元的持股，而高盛和摩根士丹利据说也已平仓，这或许限制了它们的下跌空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎不是。即便如此，美国证券交易委员会还是对Archegos及其创始人Bill Hwang展开了初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>Fundstrat Global Advisors的研究主管Tom Lee是他认识的“十大最佳投资头脑”之一的评级·黄。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012年，黄禹锡的前对冲基金老虎亚洲管理公司(Tiger Asia Management)认罪并支付了超过6000万美元的罚款，此前该公司被指控利用有关中国银行的非法线索进行交易。美国证券交易委员会禁止黄禹锡代表客户管理资金——实质上是将他踢出对冲基金行业。因此，Hwang开设了Archegos，同样，家族理财室通常不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特·耶伦的关注。她上周表示，需要加强对金融业这些私人角落的监管。她监管的金融稳定监督委员会（FSOC）重新成立了一个工作组，以帮助各机构更好地“共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯（Abe Lincoln）的话，家族办公室——一个价值数万亿美元的行业，在一个比以往任何时候都更加交织在一起的全球金融体系中，很大程度上被允许在阴影中运作——属于超级富豪，由超级富豪经营，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的倒闭可能是也可能不是另一场金融危机的开始。但谁能说其他数千家家族理财室正在用他们的数万亿美元做什么，以及类似的问题是否会爆发？</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}