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2021-07-31

USD to the moon

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2021-06-25

All the way, to the moon

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2021-06-11

No fear guys, nothing can stop us

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2021-07-31

Great, buy buy

5 Best Dividend Stocks to Buy in August<blockquote>8月份最值得买入的5只股息股票</blockquote>

2021-06-30

Sure or not? [白眼]

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2021-06-18

Ya, apple still the number 1 in the world now

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2021-06-07

To the moon.. Lol

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2021-07-14

Drop abit it's OK.. But to the moon there after

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2021-06-06

Cbs

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2021-05-27

Ok

June Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead<blockquote>六月展望：通胀、就业和美联储将成为未来一个月的焦点</blockquote>

2021-05-17

Ohh.. Nice

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2021-05-12

Nothing loh

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2021-07-16

Omg

One Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote>

2021-06-14

Keep a close look

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2021-05-16

Nice

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2021-05-01

Don't look good

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2021-04-13

Still most valuable metal now

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2021-04-10

Good company tat take care employees, don't need to unionise

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2021-07-14

Inflation is a beast

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2021-06-12

Đến gs

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So what is yours?","images":[{"img":"https://static.tigerbbs.com/61dce05e9c6aaf9eb0f3a634915dc048","width":"1600","height":"900"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816763646","isVote":1,"tweetType":1,"viewCount":3176,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":802394692,"gmtCreate":1627715628816,"gmtModify":1633756844737,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Great, buy buy","listText":"Great, buy buy","text":"Great, buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802394692","repostId":"1173075225","repostType":4,"repost":{"id":"1173075225","kind":"news","pubTimestamp":1627704977,"share":"https://www.laohu8.com/m/news/1173075225?lang=zh_CN&edition=full","pubTime":"2021-07-31 12:16","market":"us","language":"en","title":"5 Best Dividend Stocks to Buy in August<blockquote>8月份最值得买入的5只股息股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173075225","media":"US News","summary":"In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.That hints that gains could be tougher to score in the months ahea","content":"<p>In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.</p><p><blockquote>7月下旬，道琼斯工业平均指数单日下跌超过700点，创下10月以来最大单日跌幅。此后，股价出现反弹，主要股市指数均继续创下历史新高，但值得注意的是，过去一两年的大幅上涨似乎更难实现。具体来说，道琼斯指数与五月初的水平大致持平。</blockquote></p><p> That hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.</p><p><blockquote>这暗示未来几个月可能更难获得收益，这可能表明以收入为导向的股息股票不仅可以提供稳定性，还可以提供良好的现金流，以确保您的储蓄持续增长。</blockquote></p><p> If you're interested individend stocksright now, here are five that look particularly strong at the start of August:</p><p><blockquote>如果您现在对个股感兴趣，这里有五只在八月初看起来特别强劲的股票：</blockquote></p><p> <ul>  <li>EPR Properties (ticker:EPR)</li>  <li><a href=\"https://laohu8.com/S/NAVI\">Navient Corp</a>. (NAVI)</li>  <li>Pfizer Inc. (PFE)</li>  <li>Vedanta Ltd. (VEDL)</li>  <li>Vistra Corp. (VST)</li> </ul> [Sign up for stock news with our Invested newsletter.]</p><p><blockquote><ul><li>EPR Properties（股票代码：EPR）</li><li><a href=\"https://laohu8.com/S/NAVI\">纳维特公司</a>.（船舶）</li><li>辉瑞公司(PFE)</li><li>韦丹塔有限公司（领导）</li><li>瑞致达公司(VST)</li></ul>[通过我们的投资时事通讯订阅股票新闻。]</blockquote></p><p> <b>EPR Properties (EPR)</b></p><p><blockquote><b>EPR特性(EPR)</b></blockquote></p><p> <b>Dividend yield:</b>5.7%</p><p><blockquote><b>股息率：</b>5.7%</blockquote></p><p> EPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.</p><p><blockquote>EPR是一家领先的“净租赁”房地产投资信托公司，这意味着它要求客户支付物业维护或保险等辅助费用，同时只兑现租金支票。然而，它不是一家购物中心或住宅房地产公司，专注于“户外休闲和娱乐体验”，包括遍布40多个州的电影院、海滩度假村和滑雪场。显然，随着冠状病毒限制的全面放松，与去年夏天在封锁阵痛中的表现相比，EPR的业务已经出现了巨大的复苏。今年迄今为止，股价已上涨约60%，EPR刚刚在7月份恢复了25美分的季度股息。这对于未来的业绩和未来的股息来说都是个好兆头。</blockquote></p><p> <b>Navient Corp. (NAVI)</b></p><p><blockquote><b>纳维特公司(NAVI)</b></blockquote></p><p> <b>Dividend yield:</b>3.2%</p><p><blockquote><b>股息率：</b>3.2%</blockquote></p><p> Student loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&amp;P 500, even after that run.</p><p><blockquote>一两年前，在关于学生债务减免的政治讨论中，学生贷款提供商Navient并不是一只受欢迎的股票，紧随其后的是人们担心冠状病毒干扰会导致经济衰退，从而扰乱年轻毕业生的还款。然而，该金融公司16美分的季度股息在整个动荡期间没有中断，考虑到经济和政治前景都有所改善，现在NAVI股票面临上升趋势。过去12个月，股价大幅上涨了150%左右，即使在那次上涨之后，它的股息仍然是标普500的两倍多。</blockquote></p><p> <b>Pfizer Inc. (PFE)</b></p><p><blockquote><b>辉瑞公司(PFE)</b></blockquote></p><p> <b>Dividend yield:</b>3.6%</p><p><blockquote><b>股息率：</b>3.6%</blockquote></p><p> Big Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.</p><p><blockquote>大型制药公司的中流砥柱辉瑞在2021年的表现略好于大盘，继续因其在开发有效的冠状病毒疫苗方面取得的高调成功而高居榜首。鉴于该疾病变种带来的风险，以及许多发达市场已经接种疫苗后全球范围内持续推动疫苗接种，投资者在短期内可能会继续看到PFE的良好推动力。最重要的是，不要忘记这家价值2400亿美元的制药商仍然<a href=\"https://laohu8.com/S/AONE.U\">一</a>是全球最具主导地位的医疗保健公司之一，也是最可靠的股息股票之一，连续330个季度向股东支付股息。</blockquote></p><p> <b>Vedanta Ltd. (VEDL)</b></p><p><blockquote><b>韦丹塔有限公司（领导）</b></blockquote></p><p> <b>Dividend yield:</b>5.1%</p><p><blockquote><b>股息率：</b>5.1%</blockquote></p><p> Vedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.</p><p><blockquote>Vedanta是一家总部位于印度的工业集团，经营多元化的自然资源业务，涵盖石油和天然气生产以及煤炭、白银和铜矿开采。它还获取其提取的能源并运营发电设施，运营着美国主要电力公司的分支机构。鉴于该股票位于新兴市场，规模不像其他材料股那么大，仅约140亿美元，因此这里的风险比其他类似股票要大一些。但得益于全球经济复苏，凭借丰厚的股息和不断增长的收入，该股最近表现最佳，2021年年初至今的回报率超过60%。</blockquote></p><p> <b>Vistra Corp. (VST)</b></p><p><blockquote><b>瑞致达公司(VST)</b></blockquote></p><p> <b>Dividend yield:</b>3.1%</p><p><blockquote><b>股息率：</b>3.1%</blockquote></p><p> A Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.</p><p><blockquote>瑞致达是一家总部位于德克萨斯州的公用事业公司，是一家电力供应商，也是华尔街最稳定的企业之一。但伟仕佳杰也具有适度的增长潜力，因为由于放松管制，它在公用事业公司争夺客户的七个批发市场中的六个市场开展业务。目前，它在大约20个州拥有近500万个住宅、商业和工业连接。此外，它还宣布在加州建设一个1600兆瓦时的电池能量储存系统，这也吸引了投资者。2021年迄今为止，该股表现不佳，但较春季低点上涨了约30%，并且在这种短期势头的基础上继续提供丰厚的股息。</blockquote></p><p></p>","source":"lsy1627705648360","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>5 Best Dividend Stocks to Buy in August<blockquote>8月份最值得买入的5只股息股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 Best Dividend Stocks to Buy in August<blockquote>8月份最值得买入的5只股息股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">US News</strong><span class=\"h-time small\">2021-07-31 12:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.</p><p><blockquote>7月下旬，道琼斯工业平均指数单日下跌超过700点，创下10月以来最大单日跌幅。此后，股价出现反弹，主要股市指数均继续创下历史新高，但值得注意的是，过去一两年的大幅上涨似乎更难实现。具体来说，道琼斯指数与五月初的水平大致持平。</blockquote></p><p> That hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.</p><p><blockquote>这暗示未来几个月可能更难获得收益，这可能表明以收入为导向的股息股票不仅可以提供稳定性，还可以提供良好的现金流，以确保您的储蓄持续增长。</blockquote></p><p> If you're interested individend stocksright now, here are five that look particularly strong at the start of August:</p><p><blockquote>如果您现在对个股感兴趣，这里有五只在八月初看起来特别强劲的股票：</blockquote></p><p> <ul>  <li>EPR Properties (ticker:EPR)</li>  <li><a href=\"https://laohu8.com/S/NAVI\">Navient Corp</a>. (NAVI)</li>  <li>Pfizer Inc. (PFE)</li>  <li>Vedanta Ltd. (VEDL)</li>  <li>Vistra Corp. (VST)</li> </ul> [Sign up for stock news with our Invested newsletter.]</p><p><blockquote><ul><li>EPR Properties（股票代码：EPR）</li><li><a href=\"https://laohu8.com/S/NAVI\">纳维特公司</a>.（船舶）</li><li>辉瑞公司(PFE)</li><li>韦丹塔有限公司（领导）</li><li>瑞致达公司(VST)</li></ul>[通过我们的投资时事通讯订阅股票新闻。]</blockquote></p><p> <b>EPR Properties (EPR)</b></p><p><blockquote><b>EPR特性(EPR)</b></blockquote></p><p> <b>Dividend yield:</b>5.7%</p><p><blockquote><b>股息率：</b>5.7%</blockquote></p><p> EPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.</p><p><blockquote>EPR是一家领先的“净租赁”房地产投资信托公司，这意味着它要求客户支付物业维护或保险等辅助费用，同时只兑现租金支票。然而，它不是一家购物中心或住宅房地产公司，专注于“户外休闲和娱乐体验”，包括遍布40多个州的电影院、海滩度假村和滑雪场。显然，随着冠状病毒限制的全面放松，与去年夏天在封锁阵痛中的表现相比，EPR的业务已经出现了巨大的复苏。今年迄今为止，股价已上涨约60%，EPR刚刚在7月份恢复了25美分的季度股息。这对于未来的业绩和未来的股息来说都是个好兆头。</blockquote></p><p> <b>Navient Corp. (NAVI)</b></p><p><blockquote><b>纳维特公司(NAVI)</b></blockquote></p><p> <b>Dividend yield:</b>3.2%</p><p><blockquote><b>股息率：</b>3.2%</blockquote></p><p> Student loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&amp;P 500, even after that run.</p><p><blockquote>一两年前，在关于学生债务减免的政治讨论中，学生贷款提供商Navient并不是一只受欢迎的股票，紧随其后的是人们担心冠状病毒干扰会导致经济衰退，从而扰乱年轻毕业生的还款。然而，该金融公司16美分的季度股息在整个动荡期间没有中断，考虑到经济和政治前景都有所改善，现在NAVI股票面临上升趋势。过去12个月，股价大幅上涨了150%左右，即使在那次上涨之后，它的股息仍然是标普500的两倍多。</blockquote></p><p> <b>Pfizer Inc. (PFE)</b></p><p><blockquote><b>辉瑞公司(PFE)</b></blockquote></p><p> <b>Dividend yield:</b>3.6%</p><p><blockquote><b>股息率：</b>3.6%</blockquote></p><p> Big Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.</p><p><blockquote>大型制药公司的中流砥柱辉瑞在2021年的表现略好于大盘，继续因其在开发有效的冠状病毒疫苗方面取得的高调成功而高居榜首。鉴于该疾病变种带来的风险，以及许多发达市场已经接种疫苗后全球范围内持续推动疫苗接种，投资者在短期内可能会继续看到PFE的良好推动力。最重要的是，不要忘记这家价值2400亿美元的制药商仍然<a href=\"https://laohu8.com/S/AONE.U\">一</a>是全球最具主导地位的医疗保健公司之一，也是最可靠的股息股票之一，连续330个季度向股东支付股息。</blockquote></p><p> <b>Vedanta Ltd. (VEDL)</b></p><p><blockquote><b>韦丹塔有限公司（领导）</b></blockquote></p><p> <b>Dividend yield:</b>5.1%</p><p><blockquote><b>股息率：</b>5.1%</blockquote></p><p> Vedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.</p><p><blockquote>Vedanta是一家总部位于印度的工业集团，经营多元化的自然资源业务，涵盖石油和天然气生产以及煤炭、白银和铜矿开采。它还获取其提取的能源并运营发电设施，运营着美国主要电力公司的分支机构。鉴于该股票位于新兴市场，规模不像其他材料股那么大，仅约140亿美元，因此这里的风险比其他类似股票要大一些。但得益于全球经济复苏，凭借丰厚的股息和不断增长的收入，该股最近表现最佳，2021年年初至今的回报率超过60%。</blockquote></p><p> <b>Vistra Corp. (VST)</b></p><p><blockquote><b>瑞致达公司(VST)</b></blockquote></p><p> <b>Dividend yield:</b>3.1%</p><p><blockquote><b>股息率：</b>3.1%</blockquote></p><p> A Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.</p><p><blockquote>瑞致达是一家总部位于德克萨斯州的公用事业公司，是一家电力供应商，也是华尔街最稳定的企业之一。但伟仕佳杰也具有适度的增长潜力，因为由于放松管制，它在公用事业公司争夺客户的七个批发市场中的六个市场开展业务。目前，它在大约20个州拥有近500万个住宅、商业和工业连接。此外，它还宣布在加州建设一个1600兆瓦时的电池能量储存系统，这也吸引了投资者。2021年迄今为止，该股表现不佳，但较春季低点上涨了约30%，并且在这种短期势头的基础上继续提供丰厚的股息。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html\">US News</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":{"VEDL":"Vedanta  Limited","VST":"Vistra Energy Corp.","NAVI":"Navient Corp","EPR":"EPR不动产","PFE":"辉瑞"},"source_url":"https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173075225","content_text":"In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.\nThat hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.\nIf you're interested individend stocksright now, here are five that look particularly strong at the start of August:\n\nEPR Properties (ticker:EPR)\nNavient Corp. (NAVI)\nPfizer Inc. (PFE)\nVedanta Ltd. (VEDL)\nVistra Corp. (VST)\n\n[Sign up for stock news with our Invested newsletter.]\nEPR Properties (EPR)\nDividend yield:5.7%\nEPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.\nNavient Corp. (NAVI)\nDividend yield:3.2%\nStudent loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&P 500, even after that run.\nPfizer Inc. (PFE)\nDividend yield:3.6%\nBig Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains one of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.\nVedanta Ltd. (VEDL)\nDividend yield:5.1%\nVedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.\nVistra Corp. (VST)\nDividend yield:3.1%\nA Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.","news_type":1,"symbols_score_info":{"PFE":0.9,"NAVI":0.9,"VST":0.9,"EPR":0.9,"VEDL":0.9,"BOTB.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":3215,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802394317,"gmtCreate":1627715603439,"gmtModify":1633756845102,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"USD to the moon","listText":"USD to the moon","text":"USD to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/802394317","repostId":"1167653033","repostType":4,"repost":{"id":"1167653033","kind":"news","pubTimestamp":1627706886,"share":"https://www.laohu8.com/m/news/1167653033?lang=zh_CN&edition=full","pubTime":"2021-07-31 12:48","market":"sg","language":"en","title":"SGD to weaken to $1.35/USD amidst COVID-19 woes: Fitch<blockquote>惠誉：在COVID-19困境中，新加坡元将跌至1.35美元/美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1167653033","media":"Singapore Business","summary":"The Singapore dollar (SGD) is expected to weaken to $1.35 versus the US dollar (USD) for 2021, accor","content":"<p>The Singapore dollar (SGD) is expected to weaken to $1.35 versus the US dollar (USD) for 2021, according to Fitch Solutions, to weaken further to $1.36 in 2022.</p><p><blockquote>根据惠誉解决方案的数据，预计2021年新加坡元兑美元汇率将跌至1.35美元，2022年将进一步跌至1.36美元。</blockquote></p><p> This is a downgrade from its previous forecast of $1.33 against the greenback for 2021 and $1.32 in 2022.</p><p><blockquote>这比之前预测的2021年兑美元1.33美元和2022年兑美元1.32美元有所下调。</blockquote></p><p> “The SGD has weakened in line with most other Asian currencies after the Fed’s hawkish surprise on June 16, and will likely trade in a weaker range between $1.35 per USD and $1.38 per USD for the remainder of 2021 and likely in 2022 as well,” Fitch said.</p><p><blockquote>惠誉表示：“在美联储6月16日的鹰派意外之后，新加坡元与大多数其他亚洲货币一致走弱，2021年剩余时间以及2022年可能会在1.35美元兑1.38美元之间的弱势区间内交易。”说。</blockquote></p><p> This is due to the risk-off sentiment sparked by the resurgence of COVID-19 infections across Asia, including the key economies of Indonesia, Malaysia, and Thailand.</p><p><blockquote>这是由于亚洲（包括印度尼西亚、马来西亚和泰国等主要经济体）新冠肺炎感染死灰复燃引发的避险情绪。</blockquote></p><p> The SGD&nbsp;also breached the key support level of $1.35 per USD on 8 July and has weakened since. The last time Singapore breached this level was in July 2018, during the initial phases of the US-China trade war.</p><p><blockquote>新加坡元也在7月8日突破了1美元兑1.35美元的关键支撑位，此后一直走弱。新加坡上一次突破这一水平是在2018年7月，当时正值美中贸易战的初始阶段。</blockquote></p><p> “However, any weakness in the SGD should be capped by the economy being in a much more resilient position than other Asian markets, due to the fast progress in vaccinating the population,” it added. “This puts Singapore in a much more resilient position compared to most other Asian economies and the SGD could benefit from some degree of safe-haven flows from elsewhere in the region as the year progresses, limiting prospects for further depreciation beyond our identified trading range.”</p><p><blockquote>它补充说：“然而，由于人口疫苗接种取得了快速进展，新加坡元的任何疲软都应该受到经济比其他亚洲市场更具弹性的限制。”“与大多数其他亚洲经济体相比，这使新加坡处于更具弹性的地位，随着时间的推移，新加坡元可能会受益于来自该地区其他地方的某种程度的避险资金，从而限制了进一步贬值超出我们确定的交易范围的前景。”</blockquote></p><p> For the long term, Fitch expects a strong recovery in exports to support the currency in 2022, but balanced by the risk of a potentially more hawkish US Fed if above-2% target inflation persists.</p><p><blockquote>从长期来看，惠誉预计2022年出口强劲复苏将支撑人民币，但如果目标通胀率持续高于2%，美联储可能会采取更加鹰派的风险将抵消这一风险。</blockquote></p><p> Fitch Solutions identified as a key risk the possibility of a COVID-19 variant that can bypass existing vaccines, which could force Singapore to implement further lockdowns.</p><p><blockquote>惠誉解决方案（Fitch Solutions）认为，一个关键风险是新冠肺炎变种可能绕过现有疫苗，这可能迫使新加坡实施进一步的封锁。</blockquote></p><p></p>","source":"lsy1618986048053","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>SGD to weaken to $1.35/USD amidst COVID-19 woes: Fitch<blockquote>惠誉：在COVID-19困境中，新加坡元将跌至1.35美元/美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSGD to weaken to $1.35/USD amidst COVID-19 woes: Fitch<blockquote>惠誉：在COVID-19困境中，新加坡元将跌至1.35美元/美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Singapore Business</strong><span class=\"h-time small\">2021-07-31 12:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Singapore dollar (SGD) is expected to weaken to $1.35 versus the US dollar (USD) for 2021, according to Fitch Solutions, to weaken further to $1.36 in 2022.</p><p><blockquote>根据惠誉解决方案的数据，预计2021年新加坡元兑美元汇率将跌至1.35美元，2022年将进一步跌至1.36美元。</blockquote></p><p> This is a downgrade from its previous forecast of $1.33 against the greenback for 2021 and $1.32 in 2022.</p><p><blockquote>这比之前预测的2021年兑美元1.33美元和2022年兑美元1.32美元有所下调。</blockquote></p><p> “The SGD has weakened in line with most other Asian currencies after the Fed’s hawkish surprise on June 16, and will likely trade in a weaker range between $1.35 per USD and $1.38 per USD for the remainder of 2021 and likely in 2022 as well,” Fitch said.</p><p><blockquote>惠誉表示：“在美联储6月16日的鹰派意外之后，新加坡元与大多数其他亚洲货币一致走弱，2021年剩余时间以及2022年可能会在1.35美元兑1.38美元之间的弱势区间内交易。”说。</blockquote></p><p> This is due to the risk-off sentiment sparked by the resurgence of COVID-19 infections across Asia, including the key economies of Indonesia, Malaysia, and Thailand.</p><p><blockquote>这是由于亚洲（包括印度尼西亚、马来西亚和泰国等主要经济体）新冠肺炎感染死灰复燃引发的避险情绪。</blockquote></p><p> The SGD&nbsp;also breached the key support level of $1.35 per USD on 8 July and has weakened since. The last time Singapore breached this level was in July 2018, during the initial phases of the US-China trade war.</p><p><blockquote>新加坡元也在7月8日突破了1美元兑1.35美元的关键支撑位，此后一直走弱。新加坡上一次突破这一水平是在2018年7月，当时正值美中贸易战的初始阶段。</blockquote></p><p> “However, any weakness in the SGD should be capped by the economy being in a much more resilient position than other Asian markets, due to the fast progress in vaccinating the population,” it added. “This puts Singapore in a much more resilient position compared to most other Asian economies and the SGD could benefit from some degree of safe-haven flows from elsewhere in the region as the year progresses, limiting prospects for further depreciation beyond our identified trading range.”</p><p><blockquote>它补充说：“然而，由于人口疫苗接种取得了快速进展，新加坡元的任何疲软都应该受到经济比其他亚洲市场更具弹性的限制。”“与大多数其他亚洲经济体相比，这使新加坡处于更具弹性的地位，随着时间的推移，新加坡元可能会受益于来自该地区其他地方的某种程度的避险资金，从而限制了进一步贬值超出我们确定的交易范围的前景。”</blockquote></p><p> For the long term, Fitch expects a strong recovery in exports to support the currency in 2022, but balanced by the risk of a potentially more hawkish US Fed if above-2% target inflation persists.</p><p><blockquote>从长期来看，惠誉预计2022年出口强劲复苏将支撑人民币，但如果目标通胀率持续高于2%，美联储可能会采取更加鹰派的风险将抵消这一风险。</blockquote></p><p> Fitch Solutions identified as a key risk the possibility of a COVID-19 variant that can bypass existing vaccines, which could force Singapore to implement further lockdowns.</p><p><blockquote>惠誉解决方案（Fitch Solutions）认为，一个关键风险是新冠肺炎变种可能绕过现有疫苗，这可能迫使新加坡实施进一步的封锁。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://sbr.com.sg/economy/in-focus/sgd-weaken-135usd-amidst-covid-19-woes-fitch\">Singapore Business</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":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://sbr.com.sg/economy/in-focus/sgd-weaken-135usd-amidst-covid-19-woes-fitch","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167653033","content_text":"The Singapore dollar (SGD) is expected to weaken to $1.35 versus the US dollar (USD) for 2021, according to Fitch Solutions, to weaken further to $1.36 in 2022.\nThis is a downgrade from its previous forecast of $1.33 against the greenback for 2021 and $1.32 in 2022.\n“The SGD has weakened in line with most other Asian currencies after the Fed’s hawkish surprise on June 16, and will likely trade in a weaker range between $1.35 per USD and $1.38 per USD for the remainder of 2021 and likely in 2022 as well,” Fitch said.\nThis is due to the risk-off sentiment sparked by the resurgence of COVID-19 infections across Asia, including the key economies of Indonesia, Malaysia, and Thailand.\nThe SGD also breached the key support level of $1.35 per USD on 8 July and has weakened since. The last time Singapore breached this level was in July 2018, during the initial phases of the US-China trade war.\n“However, any weakness in the SGD should be capped by the economy being in a much more resilient position than other Asian markets, due to the fast progress in vaccinating the population,” it added. “This puts Singapore in a much more resilient position compared to most other Asian economies and the SGD could benefit from some degree of safe-haven flows from elsewhere in the region as the year progresses, limiting prospects for further depreciation beyond our identified trading range.”\nFor the long term, Fitch expects a strong recovery in exports to support the currency in 2022, but balanced by the risk of a potentially more hawkish US Fed if above-2% target inflation persists.\nFitch Solutions identified as a key risk the possibility of a COVID-19 variant that can bypass existing vaccines, which could force Singapore to implement further lockdowns.","news_type":1,"symbols_score_info":{"STI.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":2425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170398625,"gmtCreate":1626402890767,"gmtModify":1633927057818,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/170398625","repostId":"1122107992","repostType":4,"repost":{"id":"1122107992","kind":"news","pubTimestamp":1626400291,"share":"https://www.laohu8.com/m/news/1122107992?lang=zh_CN&edition=full","pubTime":"2021-07-16 09:51","market":"us","language":"en","title":"One Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122107992","media":"zerohedge","summary":"One month ago we reported that Bank of America had released a new proprietary indicator tracking the","content":"<p>One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.</p><p><blockquote>一个月前，我们报道了美国银行发布了一个新的专有指标来跟踪暂时性通胀水平，顺便提一下，该指标的最高读数为100。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ff143ecaa5048b85057495194244af83\" tg-width=\"707\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Of course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used cars, new cars, lodging, and transportation services together accounted for 70bp of the 88bp increase in broader core CPI as discussed previously. As a result, core CPI surged 0.9% mom in June: these components primarily reflected the price pressures from goods shortages and the reopening. To no surprise, the BofA US transitory inflation meter (TIM) remained at 100 this month, because it simply couldn't rise any further.</p><p><blockquote>当然，自那以后情况只会变得更糟，本周早些时候发布的6月份消费者物价指数报告显示，暂时性价格压力再次爆发。如前所述，二手车、新车、住宿和交通服务合计占更广泛核心CPI上涨88个基点的70个基点。因此，6月份核心CPI环比飙升0.9%：这些组成部分主要反映了商品短缺和重新开放带来的价格压力。毫不奇怪，美国银行美国暂时性通胀指标(TIM)本月保持在100，因为它根本无法进一步上涨。</blockquote></p><p> But while the transitory strength in inflation took the spotlight, another development in the June CPI report - which we had discussedextensively before- was a strong 0.32% increase in owners’ equivalent rent (OER) which is a far stickier source of inflation and whichGoldman sees hitting 4% around the end of 2022.</p><p><blockquote>不过，尽管通胀的暂时走强引起了人们的关注，但6月份CPI报告中的另一项进展（我们之前曾广泛讨论过）是业主等值租金(OER)强劲增长0.32%，这是通胀的粘性更大的来源，高盛预计到2022年底将达到4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/29e8197cd3b3f73d48338d5b01164364\" tg-width=\"960\" tg-height=\"604\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, persistent inflation looks to be rising sharply as well.</p><p><blockquote>换句话说，持续的通胀看起来也在急剧上升。</blockquote></p><p> This, as Bank of America economist Alex Lin writes today, highlights the importance of being able to track persistent inflation while keeping transitory inflation in perspective.</p><p><blockquote>正如美国银行经济学家亚历克斯·林(Alex Lin)今天所写的那样，这凸显了能够跟踪持续通胀同时正确看待暂时性通胀的重要性。</blockquote></p><p> So to get a more complete picture of current inflation dynamics, BofA has revised its transitory inflation meter with the BofA US Persistent Inflation Meter (PIM), and here, a shock:<b>it soared to 75 in June from 37 in May, indicating elevated</b><b><u>persistent</u></b><b>, as in non-transitory,&nbsp; inflation.</b></p><p><blockquote>因此，为了更全面地了解当前的通胀动态，美国银行通过美国银行美国持续通胀表（PIM）修订了其暂时性通胀表，这里令人震惊：<b>从5月份的37飙升至6月份的75，表明</b><b><u>持续存在的</u></b><b>如非暂时性通货膨胀。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc907b44c17cb542b759a78f8c15f76d\" tg-width=\"713\" tg-height=\"438\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This confirms that contrary to its best wishes, the Fed already has a major headache on its hands. Furthermore, as Deutsche Bank pointed out earlier this week,<b>Wall Street consensus inflation expectations for 2022 are already well above 2%,</b>which is impossible if inflation is transitory and if there is going to be a deflationary phase after the current burst in transitory inflation ends.</p><p><blockquote>这证实，与其最美好的愿望相反，美联储已经有了一个令人头疼的问题。此外，正如德意志银行本周早些时候指出的那样，<b>华尔街对2022年的普遍通胀预期已经远高于2%，</b>如果通胀是暂时性的，并且在当前暂时性通胀爆发结束后将出现通缩阶段，这是不可能的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/92086971b86a9511afb50387980e3995\" tg-width=\"720\" tg-height=\"448\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, the Fed is again wrong and sooner or later, 10Y yields which continue to pretend that everything is fine, will face a day of very painful reckoning.</p><p><blockquote>换句话说，美联储又错了，继续假装一切都很好的10年期国债迟早将面临非常痛苦的清算日。</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>One Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</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\">\nOne Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-16 09:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.</p><p><blockquote>一个月前，我们报道了美国银行发布了一个新的专有指标来跟踪暂时性通胀水平，顺便提一下，该指标的最高读数为100。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ff143ecaa5048b85057495194244af83\" tg-width=\"707\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Of course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used cars, new cars, lodging, and transportation services together accounted for 70bp of the 88bp increase in broader core CPI as discussed previously. As a result, core CPI surged 0.9% mom in June: these components primarily reflected the price pressures from goods shortages and the reopening. To no surprise, the BofA US transitory inflation meter (TIM) remained at 100 this month, because it simply couldn't rise any further.</p><p><blockquote>当然，自那以后情况只会变得更糟，本周早些时候发布的6月份消费者物价指数报告显示，暂时性价格压力再次爆发。如前所述，二手车、新车、住宿和交通服务合计占更广泛核心CPI上涨88个基点的70个基点。因此，6月份核心CPI环比飙升0.9%：这些组成部分主要反映了商品短缺和重新开放带来的价格压力。毫不奇怪，美国银行美国暂时性通胀指标(TIM)本月保持在100，因为它根本无法进一步上涨。</blockquote></p><p> But while the transitory strength in inflation took the spotlight, another development in the June CPI report - which we had discussedextensively before- was a strong 0.32% increase in owners’ equivalent rent (OER) which is a far stickier source of inflation and whichGoldman sees hitting 4% around the end of 2022.</p><p><blockquote>不过，尽管通胀的暂时走强引起了人们的关注，但6月份CPI报告中的另一项进展（我们之前曾广泛讨论过）是业主等值租金(OER)强劲增长0.32%，这是通胀的粘性更大的来源，高盛预计到2022年底将达到4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/29e8197cd3b3f73d48338d5b01164364\" tg-width=\"960\" tg-height=\"604\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, persistent inflation looks to be rising sharply as well.</p><p><blockquote>换句话说，持续的通胀看起来也在急剧上升。</blockquote></p><p> This, as Bank of America economist Alex Lin writes today, highlights the importance of being able to track persistent inflation while keeping transitory inflation in perspective.</p><p><blockquote>正如美国银行经济学家亚历克斯·林(Alex Lin)今天所写的那样，这凸显了能够跟踪持续通胀同时正确看待暂时性通胀的重要性。</blockquote></p><p> So to get a more complete picture of current inflation dynamics, BofA has revised its transitory inflation meter with the BofA US Persistent Inflation Meter (PIM), and here, a shock:<b>it soared to 75 in June from 37 in May, indicating elevated</b><b><u>persistent</u></b><b>, as in non-transitory,&nbsp; inflation.</b></p><p><blockquote>因此，为了更全面地了解当前的通胀动态，美国银行通过美国银行美国持续通胀表（PIM）修订了其暂时性通胀表，这里令人震惊：<b>从5月份的37飙升至6月份的75，表明</b><b><u>持续存在的</u></b><b>如非暂时性通货膨胀。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc907b44c17cb542b759a78f8c15f76d\" tg-width=\"713\" tg-height=\"438\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This confirms that contrary to its best wishes, the Fed already has a major headache on its hands. Furthermore, as Deutsche Bank pointed out earlier this week,<b>Wall Street consensus inflation expectations for 2022 are already well above 2%,</b>which is impossible if inflation is transitory and if there is going to be a deflationary phase after the current burst in transitory inflation ends.</p><p><blockquote>这证实，与其最美好的愿望相反，美联储已经有了一个令人头疼的问题。此外，正如德意志银行本周早些时候指出的那样，<b>华尔街对2022年的普遍通胀预期已经远高于2%，</b>如果通胀是暂时性的，并且在当前暂时性通胀爆发结束后将出现通缩阶段，这是不可能的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/92086971b86a9511afb50387980e3995\" tg-width=\"720\" tg-height=\"448\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, the Fed is again wrong and sooner or later, 10Y yields which continue to pretend that everything is fine, will face a day of very painful reckoning.</p><p><blockquote>换句话说，美联储又错了，继续假装一切都很好的10年期国债迟早将面临非常痛苦的清算日。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/economics/one-banks-non-transitory-inflation-meter-just-exploded\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF","BAC":"美国银行"},"source_url":"https://www.zerohedge.com/economics/one-banks-non-transitory-inflation-meter-just-exploded","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122107992","content_text":"One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.\n\nOf course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used cars, new cars, lodging, and transportation services together accounted for 70bp of the 88bp increase in broader core CPI as discussed previously. As a result, core CPI surged 0.9% mom in June: these components primarily reflected the price pressures from goods shortages and the reopening. To no surprise, the BofA US transitory inflation meter (TIM) remained at 100 this month, because it simply couldn't rise any further.\nBut while the transitory strength in inflation took the spotlight, another development in the June CPI report - which we had discussedextensively before- was a strong 0.32% increase in owners’ equivalent rent (OER) which is a far stickier source of inflation and whichGoldman sees hitting 4% around the end of 2022.\n\nIn other words, persistent inflation looks to be rising sharply as well.\nThis, as Bank of America economist Alex Lin writes today, highlights the importance of being able to track persistent inflation while keeping transitory inflation in perspective.\nSo to get a more complete picture of current inflation dynamics, BofA has revised its transitory inflation meter with the BofA US Persistent Inflation Meter (PIM), and here, a shock:it soared to 75 in June from 37 in May, indicating elevatedpersistent, as in non-transitory,  inflation.\n\nThis confirms that contrary to its best wishes, the Fed already has a major headache on its hands. Furthermore, as Deutsche Bank pointed out earlier this week,Wall Street consensus inflation expectations for 2022 are already well above 2%,which is impossible if inflation is transitory and if there is going to be a deflationary phase after the current burst in transitory inflation ends.\n\nIn other words, the Fed is again wrong and sooner or later, 10Y yields which continue to pretend that everything is fine, will face a day of very painful reckoning.","news_type":1,"symbols_score_info":{"BAC":0.9,".SPX":0.9,".DJI":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1599,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145813078,"gmtCreate":1626216422594,"gmtModify":1633929068331,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Drop abit it's OK.. But to the moon there after&nbsp;","listText":"Drop abit it's OK.. But to the moon there after&nbsp;","text":"Drop abit it's OK.. But to the moon there after","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145813078","repostId":"2151560584","repostType":4,"isVote":1,"tweetType":1,"viewCount":2447,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145819029,"gmtCreate":1626216362761,"gmtModify":1633929069282,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Inflation is a beast&nbsp;","listText":"Inflation is a beast&nbsp;","text":"Inflation is a beast","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145819029","repostId":"2151202560","repostType":4,"isVote":1,"tweetType":1,"viewCount":1606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153954487,"gmtCreate":1625007261149,"gmtModify":1633946045744,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Sure or not?&nbsp;[白眼]&nbsp;","listText":"Sure or not?&nbsp;[白眼]&nbsp;","text":"Sure or not? [白眼]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/153954487","repostId":"2146388793","repostType":4,"isVote":1,"tweetType":1,"viewCount":2750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":127197970,"gmtCreate":1624838815390,"gmtModify":1631884665904,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Ya, now China&nbsp;Chinese love their country very much..&nbsp;","listText":"Ya, now China&nbsp;Chinese love their country very much..&nbsp;","text":"Ya, now China Chinese love their country very much..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127197970","repostId":"2146000883","repostType":4,"isVote":1,"tweetType":1,"viewCount":1521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124666238,"gmtCreate":1624762741924,"gmtModify":1633948934090,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Yes, nio","listText":"Yes, nio","text":"Yes, nio","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124666238","repostId":"1137119316","repostType":4,"repost":{"id":"1137119316","kind":"news","pubTimestamp":1624754401,"share":"https://www.laohu8.com/m/news/1137119316?lang=zh_CN&edition=full","pubTime":"2021-06-27 08:40","market":"us","language":"en","title":"Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137119316","media":"seekingalpha","summary":"I am comparing Ford against NIO in different categories.The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.NIO is growing a lot faster than Ford and the high valuation may be justified.With Ford  launching a major offensive in the market for electric vehicles, Chinese EV maker NIO  will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</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>Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</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\">\nFord Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-27 08:40</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>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"F":"福特汽车","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137119316","content_text":"Summary\n\nI am comparing Ford against NIO in different categories.\nThe comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.\nNIO is growing a lot faster than Ford and the high valuation may be justified.\n\npeterschreiber.media/iStock via Getty Images\nWith Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.\nFord vs. NIO: The battle for the global electric vehicle market is heating up\nAlthough there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing $30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.\nMarket opportunity\nIn 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.\n(Source: Wikipedia)\nChina, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is on the cusp of entering the European market in a bid to grow market share in the world’s second-largest EV market before the competition is ready.\nBeijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a twenty percent share of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.\n(Source:Schroders)\nTurning to growth projections.\nWith more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.\n(Source:McKinsey)\nSince China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.\nScale and manufacturing competence\nFord has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.\nSince NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.\nWinner here: Ford.\nDifferentiation and BaaS revenue model\nBoth Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.\nFord is forming a joint venture with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has formed its own joint venture to secure battery supply.\nThe difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.\nThe BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.\nFord and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.\nBattery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.\n(Source: Schroders)\nThe “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.\nSales growth and valuation\nFord’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.\nFord's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.\nData by YCharts\nThe difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!\nDue to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.\n(Source: Author)\nNIO has larger risks...\nNIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.\nFinal verdict\nNIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.\nFord’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.\nIf you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.","news_type":1,"symbols_score_info":{"NIO":0.9,"F":0.9}},"isVote":1,"tweetType":1,"viewCount":1810,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124668812,"gmtCreate":1624762711436,"gmtModify":1633948935291,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Nio","listText":"Nio","text":"Nio","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124668812","repostId":"1137119316","repostType":4,"repost":{"id":"1137119316","kind":"news","pubTimestamp":1624754401,"share":"https://www.laohu8.com/m/news/1137119316?lang=zh_CN&edition=full","pubTime":"2021-06-27 08:40","market":"us","language":"en","title":"Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137119316","media":"seekingalpha","summary":"I am comparing Ford against NIO in different categories.The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.NIO is growing a lot faster than Ford and the high valuation may be justified.With Ford  launching a major offensive in the market for electric vehicles, Chinese EV maker NIO  will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</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>Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</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\">\nFord Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-27 08:40</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>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"F":"福特汽车","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137119316","content_text":"Summary\n\nI am comparing Ford against NIO in different categories.\nThe comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.\nNIO is growing a lot faster than Ford and the high valuation may be justified.\n\npeterschreiber.media/iStock via Getty Images\nWith Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.\nFord vs. NIO: The battle for the global electric vehicle market is heating up\nAlthough there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing $30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.\nMarket opportunity\nIn 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.\n(Source: Wikipedia)\nChina, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is on the cusp of entering the European market in a bid to grow market share in the world’s second-largest EV market before the competition is ready.\nBeijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a twenty percent share of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.\n(Source:Schroders)\nTurning to growth projections.\nWith more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.\n(Source:McKinsey)\nSince China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.\nScale and manufacturing competence\nFord has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.\nSince NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.\nWinner here: Ford.\nDifferentiation and BaaS revenue model\nBoth Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.\nFord is forming a joint venture with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has formed its own joint venture to secure battery supply.\nThe difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.\nThe BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.\nFord and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.\nBattery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.\n(Source: Schroders)\nThe “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.\nSales growth and valuation\nFord’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.\nFord's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.\nData by YCharts\nThe difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!\nDue to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.\n(Source: Author)\nNIO has larger risks...\nNIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.\nFinal verdict\nNIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.\nFord’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.\nIf you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.","news_type":1,"symbols_score_info":{"NIO":0.9,"F":0.9}},"isVote":1,"tweetType":1,"viewCount":2697,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122056860,"gmtCreate":1624589620250,"gmtModify":1633950829159,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"All the way, to the moon&nbsp;","listText":"All the way, to the moon&nbsp;","text":"All the way, to the 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Lol&nbsp;","listText":"To the moon.. Lol&nbsp;","text":"To the moon.. Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/115516410","repostId":"2141926289","repostType":4,"isVote":1,"tweetType":1,"viewCount":569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115969496,"gmtCreate":1622946633015,"gmtModify":1634096732292,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Cbs","listText":"Cbs","text":"Cbs","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/115969496","repostId":"1128534499","repostType":4,"isVote":1,"tweetType":1,"viewCount":941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":802394317,"gmtCreate":1627715603439,"gmtModify":1633756845102,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"USD to the moon","listText":"USD to the moon","text":"USD to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/802394317","repostId":"1167653033","repostType":4,"isVote":1,"tweetType":1,"viewCount":2425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122056860,"gmtCreate":1624589620250,"gmtModify":1633950829159,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"All the way, to the moon&nbsp;","listText":"All the way, to the moon&nbsp;","text":"All the way, to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/122056860","repostId":"2146023477","repostType":4,"isVote":1,"tweetType":1,"viewCount":595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181907749,"gmtCreate":1623369539281,"gmtModify":1634034173282,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"No fear guys, nothing can stop us","listText":"No fear guys, nothing can stop us","text":"No fear guys, nothing can stop us","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/181907749","repostId":"1194129273","repostType":4,"isVote":1,"tweetType":1,"viewCount":1115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802394692,"gmtCreate":1627715628816,"gmtModify":1633756844737,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Great, buy buy","listText":"Great, buy buy","text":"Great, buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802394692","repostId":"1173075225","repostType":4,"repost":{"id":"1173075225","kind":"news","pubTimestamp":1627704977,"share":"https://www.laohu8.com/m/news/1173075225?lang=zh_CN&edition=full","pubTime":"2021-07-31 12:16","market":"us","language":"en","title":"5 Best Dividend Stocks to Buy in August<blockquote>8月份最值得买入的5只股息股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173075225","media":"US News","summary":"In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.That hints that gains could be tougher to score in the months ahea","content":"<p>In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.</p><p><blockquote>7月下旬，道琼斯工业平均指数单日下跌超过700点，创下10月以来最大单日跌幅。此后，股价出现反弹，主要股市指数均继续创下历史新高，但值得注意的是，过去一两年的大幅上涨似乎更难实现。具体来说，道琼斯指数与五月初的水平大致持平。</blockquote></p><p> That hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.</p><p><blockquote>这暗示未来几个月可能更难获得收益，这可能表明以收入为导向的股息股票不仅可以提供稳定性，还可以提供良好的现金流，以确保您的储蓄持续增长。</blockquote></p><p> If you're interested individend stocksright now, here are five that look particularly strong at the start of August:</p><p><blockquote>如果您现在对个股感兴趣，这里有五只在八月初看起来特别强劲的股票：</blockquote></p><p> <ul>  <li>EPR Properties (ticker:EPR)</li>  <li><a href=\"https://laohu8.com/S/NAVI\">Navient Corp</a>. (NAVI)</li>  <li>Pfizer Inc. (PFE)</li>  <li>Vedanta Ltd. (VEDL)</li>  <li>Vistra Corp. (VST)</li> </ul> [Sign up for stock news with our Invested newsletter.]</p><p><blockquote><ul><li>EPR Properties（股票代码：EPR）</li><li><a href=\"https://laohu8.com/S/NAVI\">纳维特公司</a>.（船舶）</li><li>辉瑞公司(PFE)</li><li>韦丹塔有限公司（领导）</li><li>瑞致达公司(VST)</li></ul>[通过我们的投资时事通讯订阅股票新闻。]</blockquote></p><p> <b>EPR Properties (EPR)</b></p><p><blockquote><b>EPR特性(EPR)</b></blockquote></p><p> <b>Dividend yield:</b>5.7%</p><p><blockquote><b>股息率：</b>5.7%</blockquote></p><p> EPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.</p><p><blockquote>EPR是一家领先的“净租赁”房地产投资信托公司，这意味着它要求客户支付物业维护或保险等辅助费用，同时只兑现租金支票。然而，它不是一家购物中心或住宅房地产公司，专注于“户外休闲和娱乐体验”，包括遍布40多个州的电影院、海滩度假村和滑雪场。显然，随着冠状病毒限制的全面放松，与去年夏天在封锁阵痛中的表现相比，EPR的业务已经出现了巨大的复苏。今年迄今为止，股价已上涨约60%，EPR刚刚在7月份恢复了25美分的季度股息。这对于未来的业绩和未来的股息来说都是个好兆头。</blockquote></p><p> <b>Navient Corp. (NAVI)</b></p><p><blockquote><b>纳维特公司(NAVI)</b></blockquote></p><p> <b>Dividend yield:</b>3.2%</p><p><blockquote><b>股息率：</b>3.2%</blockquote></p><p> Student loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&amp;P 500, even after that run.</p><p><blockquote>一两年前，在关于学生债务减免的政治讨论中，学生贷款提供商Navient并不是一只受欢迎的股票，紧随其后的是人们担心冠状病毒干扰会导致经济衰退，从而扰乱年轻毕业生的还款。然而，该金融公司16美分的季度股息在整个动荡期间没有中断，考虑到经济和政治前景都有所改善，现在NAVI股票面临上升趋势。过去12个月，股价大幅上涨了150%左右，即使在那次上涨之后，它的股息仍然是标普500的两倍多。</blockquote></p><p> <b>Pfizer Inc. (PFE)</b></p><p><blockquote><b>辉瑞公司(PFE)</b></blockquote></p><p> <b>Dividend yield:</b>3.6%</p><p><blockquote><b>股息率：</b>3.6%</blockquote></p><p> Big Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.</p><p><blockquote>大型制药公司的中流砥柱辉瑞在2021年的表现略好于大盘，继续因其在开发有效的冠状病毒疫苗方面取得的高调成功而高居榜首。鉴于该疾病变种带来的风险，以及许多发达市场已经接种疫苗后全球范围内持续推动疫苗接种，投资者在短期内可能会继续看到PFE的良好推动力。最重要的是，不要忘记这家价值2400亿美元的制药商仍然<a href=\"https://laohu8.com/S/AONE.U\">一</a>是全球最具主导地位的医疗保健公司之一，也是最可靠的股息股票之一，连续330个季度向股东支付股息。</blockquote></p><p> <b>Vedanta Ltd. (VEDL)</b></p><p><blockquote><b>韦丹塔有限公司（领导）</b></blockquote></p><p> <b>Dividend yield:</b>5.1%</p><p><blockquote><b>股息率：</b>5.1%</blockquote></p><p> Vedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.</p><p><blockquote>Vedanta是一家总部位于印度的工业集团，经营多元化的自然资源业务，涵盖石油和天然气生产以及煤炭、白银和铜矿开采。它还获取其提取的能源并运营发电设施，运营着美国主要电力公司的分支机构。鉴于该股票位于新兴市场，规模不像其他材料股那么大，仅约140亿美元，因此这里的风险比其他类似股票要大一些。但得益于全球经济复苏，凭借丰厚的股息和不断增长的收入，该股最近表现最佳，2021年年初至今的回报率超过60%。</blockquote></p><p> <b>Vistra Corp. (VST)</b></p><p><blockquote><b>瑞致达公司(VST)</b></blockquote></p><p> <b>Dividend yield:</b>3.1%</p><p><blockquote><b>股息率：</b>3.1%</blockquote></p><p> A Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.</p><p><blockquote>瑞致达是一家总部位于德克萨斯州的公用事业公司，是一家电力供应商，也是华尔街最稳定的企业之一。但伟仕佳杰也具有适度的增长潜力，因为由于放松管制，它在公用事业公司争夺客户的七个批发市场中的六个市场开展业务。目前，它在大约20个州拥有近500万个住宅、商业和工业连接。此外，它还宣布在加州建设一个1600兆瓦时的电池能量储存系统，这也吸引了投资者。2021年迄今为止，该股表现不佳，但较春季低点上涨了约30%，并且在这种短期势头的基础上继续提供丰厚的股息。</blockquote></p><p></p>","source":"lsy1627705648360","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>5 Best Dividend Stocks to Buy in August<blockquote>8月份最值得买入的5只股息股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 Best Dividend Stocks to Buy in August<blockquote>8月份最值得买入的5只股息股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">US News</strong><span class=\"h-time small\">2021-07-31 12:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.</p><p><blockquote>7月下旬，道琼斯工业平均指数单日下跌超过700点，创下10月以来最大单日跌幅。此后，股价出现反弹，主要股市指数均继续创下历史新高，但值得注意的是，过去一两年的大幅上涨似乎更难实现。具体来说，道琼斯指数与五月初的水平大致持平。</blockquote></p><p> That hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.</p><p><blockquote>这暗示未来几个月可能更难获得收益，这可能表明以收入为导向的股息股票不仅可以提供稳定性，还可以提供良好的现金流，以确保您的储蓄持续增长。</blockquote></p><p> If you're interested individend stocksright now, here are five that look particularly strong at the start of August:</p><p><blockquote>如果您现在对个股感兴趣，这里有五只在八月初看起来特别强劲的股票：</blockquote></p><p> <ul>  <li>EPR Properties (ticker:EPR)</li>  <li><a href=\"https://laohu8.com/S/NAVI\">Navient Corp</a>. (NAVI)</li>  <li>Pfizer Inc. (PFE)</li>  <li>Vedanta Ltd. (VEDL)</li>  <li>Vistra Corp. (VST)</li> </ul> [Sign up for stock news with our Invested newsletter.]</p><p><blockquote><ul><li>EPR Properties（股票代码：EPR）</li><li><a href=\"https://laohu8.com/S/NAVI\">纳维特公司</a>.（船舶）</li><li>辉瑞公司(PFE)</li><li>韦丹塔有限公司（领导）</li><li>瑞致达公司(VST)</li></ul>[通过我们的投资时事通讯订阅股票新闻。]</blockquote></p><p> <b>EPR Properties (EPR)</b></p><p><blockquote><b>EPR特性(EPR)</b></blockquote></p><p> <b>Dividend yield:</b>5.7%</p><p><blockquote><b>股息率：</b>5.7%</blockquote></p><p> EPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.</p><p><blockquote>EPR是一家领先的“净租赁”房地产投资信托公司，这意味着它要求客户支付物业维护或保险等辅助费用，同时只兑现租金支票。然而，它不是一家购物中心或住宅房地产公司，专注于“户外休闲和娱乐体验”，包括遍布40多个州的电影院、海滩度假村和滑雪场。显然，随着冠状病毒限制的全面放松，与去年夏天在封锁阵痛中的表现相比，EPR的业务已经出现了巨大的复苏。今年迄今为止，股价已上涨约60%，EPR刚刚在7月份恢复了25美分的季度股息。这对于未来的业绩和未来的股息来说都是个好兆头。</blockquote></p><p> <b>Navient Corp. (NAVI)</b></p><p><blockquote><b>纳维特公司(NAVI)</b></blockquote></p><p> <b>Dividend yield:</b>3.2%</p><p><blockquote><b>股息率：</b>3.2%</blockquote></p><p> Student loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&amp;P 500, even after that run.</p><p><blockquote>一两年前，在关于学生债务减免的政治讨论中，学生贷款提供商Navient并不是一只受欢迎的股票，紧随其后的是人们担心冠状病毒干扰会导致经济衰退，从而扰乱年轻毕业生的还款。然而，该金融公司16美分的季度股息在整个动荡期间没有中断，考虑到经济和政治前景都有所改善，现在NAVI股票面临上升趋势。过去12个月，股价大幅上涨了150%左右，即使在那次上涨之后，它的股息仍然是标普500的两倍多。</blockquote></p><p> <b>Pfizer Inc. (PFE)</b></p><p><blockquote><b>辉瑞公司(PFE)</b></blockquote></p><p> <b>Dividend yield:</b>3.6%</p><p><blockquote><b>股息率：</b>3.6%</blockquote></p><p> Big Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.</p><p><blockquote>大型制药公司的中流砥柱辉瑞在2021年的表现略好于大盘，继续因其在开发有效的冠状病毒疫苗方面取得的高调成功而高居榜首。鉴于该疾病变种带来的风险，以及许多发达市场已经接种疫苗后全球范围内持续推动疫苗接种，投资者在短期内可能会继续看到PFE的良好推动力。最重要的是，不要忘记这家价值2400亿美元的制药商仍然<a href=\"https://laohu8.com/S/AONE.U\">一</a>是全球最具主导地位的医疗保健公司之一，也是最可靠的股息股票之一，连续330个季度向股东支付股息。</blockquote></p><p> <b>Vedanta Ltd. (VEDL)</b></p><p><blockquote><b>韦丹塔有限公司（领导）</b></blockquote></p><p> <b>Dividend yield:</b>5.1%</p><p><blockquote><b>股息率：</b>5.1%</blockquote></p><p> Vedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.</p><p><blockquote>Vedanta是一家总部位于印度的工业集团，经营多元化的自然资源业务，涵盖石油和天然气生产以及煤炭、白银和铜矿开采。它还获取其提取的能源并运营发电设施，运营着美国主要电力公司的分支机构。鉴于该股票位于新兴市场，规模不像其他材料股那么大，仅约140亿美元，因此这里的风险比其他类似股票要大一些。但得益于全球经济复苏，凭借丰厚的股息和不断增长的收入，该股最近表现最佳，2021年年初至今的回报率超过60%。</blockquote></p><p> <b>Vistra Corp. (VST)</b></p><p><blockquote><b>瑞致达公司(VST)</b></blockquote></p><p> <b>Dividend yield:</b>3.1%</p><p><blockquote><b>股息率：</b>3.1%</blockquote></p><p> A Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.</p><p><blockquote>瑞致达是一家总部位于德克萨斯州的公用事业公司，是一家电力供应商，也是华尔街最稳定的企业之一。但伟仕佳杰也具有适度的增长潜力，因为由于放松管制，它在公用事业公司争夺客户的七个批发市场中的六个市场开展业务。目前，它在大约20个州拥有近500万个住宅、商业和工业连接。此外，它还宣布在加州建设一个1600兆瓦时的电池能量储存系统，这也吸引了投资者。2021年迄今为止，该股表现不佳，但较春季低点上涨了约30%，并且在这种短期势头的基础上继续提供丰厚的股息。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html\">US News</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":{"VEDL":"Vedanta  Limited","VST":"Vistra Energy Corp.","NAVI":"Navient Corp","EPR":"EPR不动产","PFE":"辉瑞"},"source_url":"https://finance.yahoo.com/news/5-best-dividend-stocks-buy-175503089.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173075225","content_text":"In late July, the Dow Jones Industrial Average slid more than 700 points in a single session to log its worst single-day decline since October. Shares have since rebounded, and the majorstock market indexesall continue to flirt with new all-time highs, but it's worth noting that the big gains of the last year or two seem much harder to come by. Specifically, the Dow Jones is more or less flat from where it was at the start of May.\nThat hints that gains could be tougher to score in the months ahead -- and could be a sign that income-oriented dividend stocks may provide not just stability but also a nice flow of cash to ensure your nest egg keeps growing.\nIf you're interested individend stocksright now, here are five that look particularly strong at the start of August:\n\nEPR Properties (ticker:EPR)\nNavient Corp. (NAVI)\nPfizer Inc. (PFE)\nVedanta Ltd. (VEDL)\nVistra Corp. (VST)\n\n[Sign up for stock news with our Invested newsletter.]\nEPR Properties (EPR)\nDividend yield:5.7%\nEPR is a leading \"net lease\" real estate investment trust, meaning it demands clients pay for ancillary expenses like maintenance or insurance on the properties while it just cashes the rent check. It's not a shopping mall or residential real estate firm, however, and focuses on \"out of home leisure and recreation experiences,\" including movie theaters, beach resorts and ski slopes across more than 40 states. Obviously, with the overall easing of coronavirus restrictions, EPR has been seeing a huge recovery to its business compared with its performance last summer in the throes of lockdowns. Shares are up about 60% year to date, and EPR just resumed a 25 cent quarterly dividend in July. That bodes well both for future performance and future dividends.\nNavient Corp. (NAVI)\nDividend yield:3.2%\nStudent loan provider Navient was not exactly a popular stock a year or two ago amid political discussions ofstudent debtforgiveness, which were followed closely by fears of an economic downturn caused by coronavirus disruptions that would upset the payments of young graduates. The financial firm's quarterly dividend of 16 cents, however, went uninterrupted throughout the upheaval, and now NAVI stock is facing an uptrend considering that both the economic and political outlook have improved. Shares are up a huge 150% or so in the last 12 months, and it still offers a dividend that's more than twice the S&P 500, even after that run.\nPfizer Inc. (PFE)\nDividend yield:3.6%\nBig Pharma mainstay Pfizer has outperformed the broader stock market slightly in 2021, continuing to ride high on its high-profile success developing an effective coronavirus vaccine. Given the risk posed by variants of the disease, along with a continued push to vaccinate worldwide now that many developed markets have gotten their shots, investors could continue to see a decent tailwind for PFE in the near term. On top of that, don't forget this $240 billion drugmaker remains one of the most dominanthealth care companieson the planet, and one of the most reliable dividend stocks out there with an amazing streak of 330 consecutive quarterly dividends paid to shareholders.\nVedanta Ltd. (VEDL)\nDividend yield:5.1%\nVedanta is an India-based industrial conglomerate that operates a diversified natural resources business spanning oil and gas production as well as coal,silverandcoppermining. It also takes the energy sources it extracts and operates power generation facilities, operating an arm that is a major electric utility in the nation. Given that this stock is in an emerging market and not as large as other materials stocks at only about $14 billion, there's a bit more risk here than in other similar stocks. But with a generous dividend and rising revenues, thanks to the global economic recovery, this stock has been a top performer lately with year-to-date returns of more than 60% in 2021.\nVistra Corp. (VST)\nDividend yield:3.1%\nA Texas-based utility company, Vistra is an electricity provider -- one of the most stable businesses on Wall Street. But VST also has modest growth potential as it operates in six of the seven wholesale markets where utilities compete for customers, thanks to deregulation. Right now, it has nearly 5 million residential, commercial and industrial connections in about 20 states. Additionally, it announced construction of a 1,600 megawatt-hour battery energy storage system in California, which has captivated investors. Shares have underperformed year to date in 2021, but are up about 30% from their spring lows -- and continue to offer a generous dividend on top of this short-term momentum.","news_type":1,"symbols_score_info":{"PFE":0.9,"NAVI":0.9,"VST":0.9,"EPR":0.9,"VEDL":0.9,"BOTB.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":3215,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153954487,"gmtCreate":1625007261149,"gmtModify":1633946045744,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Sure or not?&nbsp;[白眼]&nbsp;","listText":"Sure or not?&nbsp;[白眼]&nbsp;","text":"Sure or not? 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Lol&nbsp;","listText":"To the moon.. Lol&nbsp;","text":"To the moon.. Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/115516410","repostId":"2141926289","repostType":4,"isVote":1,"tweetType":1,"viewCount":569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145813078,"gmtCreate":1626216422594,"gmtModify":1633929068331,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Drop abit it's OK.. But to the moon there after&nbsp;","listText":"Drop abit it's OK.. But to the moon there after&nbsp;","text":"Drop abit it's OK.. But to the moon there after","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145813078","repostId":"2151560584","repostType":4,"isVote":1,"tweetType":1,"viewCount":2447,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115969496,"gmtCreate":1622946633015,"gmtModify":1634096732292,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Cbs","listText":"Cbs","text":"Cbs","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/115969496","repostId":"1128534499","repostType":4,"isVote":1,"tweetType":1,"viewCount":941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132948984,"gmtCreate":1622069389848,"gmtModify":1634184262934,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/132948984","repostId":"1107926084","repostType":4,"repost":{"id":"1107926084","kind":"news","pubTimestamp":1622042301,"share":"https://www.laohu8.com/m/news/1107926084?lang=zh_CN&edition=full","pubTime":"2021-05-26 23:18","market":"us","language":"en","title":"June Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead<blockquote>六月展望：通胀、就业和美联储将成为未来一个月的焦点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107926084","media":"benzinga","summary":"A lot’s happening in June, but the most intense focus could be on a single event the afternoon of Ju","content":"<p><div> A lot’s happening in June, but the most intense focus could be on a single event the afternoon of June 16.That’s when the Federal Open Market Committee (FOMC) wraps up its June meeting and Fed ...</p><p><blockquote><div>六月发生了很多事情，但最激烈的焦点可能是6月16日下午的一件事。届时联邦公开市场委员会(FOMC)将结束6月份会议，美联储...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>June Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead<blockquote>六月展望：通胀、就业和美联储将成为未来一个月的焦点</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; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJune Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead<blockquote>六月展望：通胀、就业和美联储将成为未来一个月的焦点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-26 23:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> A lot’s happening in June, but the most intense focus could be on a single event the afternoon of June 16.That’s when the Federal Open Market Committee (FOMC) wraps up its June meeting and Fed ...</p><p><blockquote><div>六月发生了很多事情，但最激烈的焦点可能是6月16日下午的一件事。届时联邦公开市场委员会(FOMC)将结束6月份会议，美联储...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107926084","content_text":"A lot’s happening in June, but the most intense focus could be on a single event the afternoon of June 16.That’s when the Federal Open Market Committee (FOMC) wraps up its June meeting and Fed Chairman Jerome Powell addresses reporters. While a Powell press conference is important whenever it happens, this one has more significance than usual because of what the Fed said at its April meeting.Minutes from that gathering raised the chance of the Fed beginning to plan some sort of “taper” if the economy keeps galloping along. Remember, the Fed’s been snapping up $120 billion in Treasury bonds and mortgage-backed securities each month to provide liquidity and keep rates low during the pandemic, but has said it will begin “tapering,” or slowing the pace of those purchases, if certain employment parameters are met. Chances of a taper happening in the relatively near future suddenly appeared more likely based on the following words in the April minutes:“A number of participants suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.”That statement appeared to surprise some analysts. They hadn’t expected the FOMC to publicly ponder actual tapering until possibly later this year. Those words, along with a string of robust economic data and earnings numbers, might have investors on tenterhooks waiting to hear the Fed’s fresh thinking on June 16. Will it give any hint of how long it’s willing to let things continue rolling full steam ahead? Just how worried are Powell and company about rising prices?Any sign that the Fed is ready to taper earlier than expected could cause Treasury yields to rise and potentially put pressure on the stock market.As The Fed Turns...It’s hard to blame Fed officials for wondering if the economy might be on the verge of overheating. After all, Q1 gross domestic product (GDP) grew more than 6%, the highest in decades. Layoffs appear to be trending much lower, if weekly initial jobless claims are correct, and many companies said during Q1 earnings season that they’re having supply chain issues even while paying more for the raw materials they need. This raises concerns about producer inflation making its way to consumers.The final straw might have been April’s consumer price index (CPI), which showed more than 4% year-over-year growth, the highest in a decade. Core month-over-month CPI saw its sharpest rise since April 1982, when President Reagan was serving his first term and Powell was a recent law school graduate.Though the Fed didn’t have all of this data in hand when it met in late April, the signs were already pointing toward major economic growth and price pressure, putting the Fed between the proverbial rock and a hard place.Powell has emphasized the importance of getting millions back to work, with unemployment still around 6% more than a year after the pandemic began. Earlier this year, the Fed made it very clear it would tolerate inflation above its 2% long-term target until employment got back on track, but this risks the chance of price pressure hurting consumers and companies. Corporate margins look very positive right now coming off huge Q1 earnings growth, but inflation over coming months could change that, perhaps resulting in pressure on stocks.There could be more Fed remarks in the next week or two, but then the pre-meeting silent period begins and June 16 looms. Powell is almost certainly going to face questions about those April meeting minutes.Tug-Of-War Persists Between Growth And ValueAll this focus on the Fed turns attention to the benchmark 10-year Treasury yield, a major metric for economic growth, inflation, and interest rate anticipation. It rallied from near historic lows of around 0.95% at the start of the year to a late-March high of 1.78% as the economy improved and inflation fears gathered. It then pulled back and hung around near 1.6% for a couple of months, trading at 1.61% as of late May.Anywhere above 1.75% might look interesting now, and 2% might spark some fear in the market. The rally in yields earlier this year really helped snuff out the Info Tech rally, since many of those stocks are priced in part based on anticipation of future growth, something higher borrowing costs might compress.That helped lead to the current tug-of-war between value sectors like Financials and Energy that tend to do better in a recovering economy where inflation is rising and Growth ones like Tech that outperformed during the shutdowns of 2020. The battle has raged most of the last two months, though there are now signs of at least some investors beginning to bifurcate Tech between the huge, mature companies like AppleAAPL 0.09%and MicrosoftMSFT 0.05%and smaller firms more dependent on keeping future growth paths skyrocketing. The AAPLs and MSFTs of the world have often led the broader market higher the last few years, and could be less vulnerable then smaller Tech firms if interest rates do start to rise.FIGURE 1:  MAY MALAISE.After a strong start to 2021, the S&P 500 Index (SPX—candlestick) had some struggles in May amid inflation worries. The Nasdaq 100 (NDX—purple line) has had a much more checkered year as some investors favored value over growth sectors, and continued to be weak heading into June. Data Sources: S&P Dow Jones Indices, Nasdaq. Chart source: The thinkorswim® platform. For illustrative purposes only. Past performance does not guarantee future results.But we may be putting the cart ahead of the horse, so to speak. The April jobs growth number of 266,000 was way, way below Wall Street’s expectations for more than 700,000 and some bullish predictions of a million. That puts focus squarely on the May jobs growth number, due June 4. Another weak jobs reading for May might take some pressure off of the Fed and rates, with “bad news” possibly becoming “good news” for stocks, so to speak.Remember that different U.S. states were in different reopening modes in April, which may have affected that number. It’s possible some of the earlier job growth won’t show up until May, or the April number could be revised upward once things become clearer. A lot of what Powell says and does on June 16 will likely reflect the jobs report, along with inflation data like the May 28 personal consumption expenditure (PCE) prices, which the Fed is known to follow closely.The May CPI report on June 10 is another key one to watch next month when it comes to inflation. The Fed will have all that material in hand by the time it meets, giving it a clearer perspective.Homebuilders, “Stay-At-Home” Stocks Among June Earnings ReportsThat’s a mouthful about the Fed, inflation, jobs, and yields. What about the corporate world?As we emerge from a Q1 earnings season where the average S&P 500 company recorded earnings per share growth of nearly 52%, according to Factset, you might think earnings aren’t a big calendar item in June. That’s only partially true. While we won’t see a big crush of earnings reports, there are some key ones to watch, especially in the home building sector where both Lennar and KB Home are expected to report during the month.The housing market has been red hot, so a couple of April data points that missed analysts’ expectations (existing home sales and housing starts) might not be too big a deal. Having said that, the economy’s reopening could take peoples’ attention away from home buying and give strength to companies that focus on experiences rather than products. It’s possible some of the strength in housing and home improvement got pulled forward by the pandemic, just as we saw demand for internet conferences and home exercise equipment pulled forward. Keep an eye on what LEN and KBH say about demand when they report.Zoom Video , Kroger , Chewy , and Slack are some other companies whose businesses saw a big impact from Covid and release earnings in June. Most of them benefitted from people staying at home, questions remain over how much of their recent growth in sales has been sustainable vs. “demand pulled forward.” Many of their shares have lost ground and investors are eager to hear how they plan to keep the fizz bubbling post-Covid. Meanwhile, Tech earnings are a bit scarce in the month ahead, but Oracle is expected to be on the June release calendar.Keeping Watch on Crypto, VolatilityLike it or not, cryptocurrency could also help determine the market’s direction in June. It seemed like bitcoin set some of the momentum in late May, though that’s not a permanent indicator by any stretch of the imagination. However, when the news flow gets quiet and people start looking for indicators on how to trade, bitcoin and other cryptocurrencies have been something many investors watch. The question is whether the stock market is starting to divorce itself more from cryptocurrency after huge swings in bitcoin prices recently.Volatility is another metric to watch. The Cboe Volatility Index(VIX) hung around near 20 in late May after a month where it seldom went below 18 or above 25. VIX typically spends a long time trading in specific ranges, so the next thing to check is whether the current range holds or if it steps up or down. A move higher in volatility, especially any prolonged stays above 25, would presumably reflect mounting investor uncertainty and worries about what’s ahead. If VIX falls below 20 and stays there awhile, it could point to a quiet summer.We haven’t mentioned Covid so far except in passing. That’s a good thing, because it means it’s not front and center the way it once was. As of late May, the U.S. seemed to be on very good footing thanks to vaccinations, with case counts falling to the lowest daily levels in nearly a year. No one knows if this will continue, but we can be hopeful.We can also hope that the current devastating impact of Covid in parts of Asia slows down in the month ahead. Right now, it appears that the situation there might be putting a bit of pressure on the blazing commodity markets amid worries about overseas demand for products like crude and copper. China also tried to clamp down on commodity prices in late May, saying it will move to reduce speculation.We started with inflation, so might as well end with it. The commodities market is another aspect of pricing pressure, especially for companies in the Materials, Information Technology, Transport, and Industrial sectors. Costs rose sharply so far this year for many of the core products they use, but if commodities continue to level off or even fall in June, that could relieve some of the pressure on companies and the Fed. Whether that happens could be determined by progress against the pandemic the next few weeks in places like India, Japan, and South Korea.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192275350,"gmtCreate":1621213927870,"gmtModify":1634193366543,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Ohh.. Nice&nbsp;","listText":"Ohh.. Nice&nbsp;","text":"Ohh.. Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/192275350","repostId":"1106706226","repostType":4,"isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193547835,"gmtCreate":1620803689427,"gmtModify":1634196170343,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Nothing loh","listText":"Nothing loh","text":"Nothing loh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/193547835","repostId":"1195501250","repostType":4,"isVote":1,"tweetType":1,"viewCount":558,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170398625,"gmtCreate":1626402890767,"gmtModify":1633927057818,"author":{"id":"3573639121856550","authorId":"3573639121856550","name":"pangspurs","avatar":"https://static.tigerbbs.com/aee2873ae7d8332fa137abf68b7a472f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573639121856550","idStr":"3573639121856550"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/170398625","repostId":"1122107992","repostType":4,"repost":{"id":"1122107992","kind":"news","pubTimestamp":1626400291,"share":"https://www.laohu8.com/m/news/1122107992?lang=zh_CN&edition=full","pubTime":"2021-07-16 09:51","market":"us","language":"en","title":"One Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122107992","media":"zerohedge","summary":"One month ago we reported that Bank of America had released a new proprietary indicator tracking the","content":"<p>One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.</p><p><blockquote>一个月前，我们报道了美国银行发布了一个新的专有指标来跟踪暂时性通胀水平，顺便提一下，该指标的最高读数为100。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ff143ecaa5048b85057495194244af83\" tg-width=\"707\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Of course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used cars, new cars, lodging, and transportation services together accounted for 70bp of the 88bp increase in broader core CPI as discussed previously. As a result, core CPI surged 0.9% mom in June: these components primarily reflected the price pressures from goods shortages and the reopening. To no surprise, the BofA US transitory inflation meter (TIM) remained at 100 this month, because it simply couldn't rise any further.</p><p><blockquote>当然，自那以后情况只会变得更糟，本周早些时候发布的6月份消费者物价指数报告显示，暂时性价格压力再次爆发。如前所述，二手车、新车、住宿和交通服务合计占更广泛核心CPI上涨88个基点的70个基点。因此，6月份核心CPI环比飙升0.9%：这些组成部分主要反映了商品短缺和重新开放带来的价格压力。毫不奇怪，美国银行美国暂时性通胀指标(TIM)本月保持在100，因为它根本无法进一步上涨。</blockquote></p><p> But while the transitory strength in inflation took the spotlight, another development in the June CPI report - which we had discussedextensively before- was a strong 0.32% increase in owners’ equivalent rent (OER) which is a far stickier source of inflation and whichGoldman sees hitting 4% around the end of 2022.</p><p><blockquote>不过，尽管通胀的暂时走强引起了人们的关注，但6月份CPI报告中的另一项进展（我们之前曾广泛讨论过）是业主等值租金(OER)强劲增长0.32%，这是通胀的粘性更大的来源，高盛预计到2022年底将达到4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/29e8197cd3b3f73d48338d5b01164364\" tg-width=\"960\" tg-height=\"604\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, persistent inflation looks to be rising sharply as well.</p><p><blockquote>换句话说，持续的通胀看起来也在急剧上升。</blockquote></p><p> This, as Bank of America economist Alex Lin writes today, highlights the importance of being able to track persistent inflation while keeping transitory inflation in perspective.</p><p><blockquote>正如美国银行经济学家亚历克斯·林(Alex Lin)今天所写的那样，这凸显了能够跟踪持续通胀同时正确看待暂时性通胀的重要性。</blockquote></p><p> So to get a more complete picture of current inflation dynamics, BofA has revised its transitory inflation meter with the BofA US Persistent Inflation Meter (PIM), and here, a shock:<b>it soared to 75 in June from 37 in May, indicating elevated</b><b><u>persistent</u></b><b>, as in non-transitory,&nbsp; inflation.</b></p><p><blockquote>因此，为了更全面地了解当前的通胀动态，美国银行通过美国银行美国持续通胀表（PIM）修订了其暂时性通胀表，这里令人震惊：<b>从5月份的37飙升至6月份的75，表明</b><b><u>持续存在的</u></b><b>如非暂时性通货膨胀。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc907b44c17cb542b759a78f8c15f76d\" tg-width=\"713\" tg-height=\"438\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This confirms that contrary to its best wishes, the Fed already has a major headache on its hands. Furthermore, as Deutsche Bank pointed out earlier this week,<b>Wall Street consensus inflation expectations for 2022 are already well above 2%,</b>which is impossible if inflation is transitory and if there is going to be a deflationary phase after the current burst in transitory inflation ends.</p><p><blockquote>这证实，与其最美好的愿望相反，美联储已经有了一个令人头疼的问题。此外，正如德意志银行本周早些时候指出的那样，<b>华尔街对2022年的普遍通胀预期已经远高于2%，</b>如果通胀是暂时性的，并且在当前暂时性通胀爆发结束后将出现通缩阶段，这是不可能的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/92086971b86a9511afb50387980e3995\" tg-width=\"720\" tg-height=\"448\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, the Fed is again wrong and sooner or later, 10Y yields which continue to pretend that everything is fine, will face a day of very painful reckoning.</p><p><blockquote>换句话说，美联储又错了，继续假装一切都很好的10年期国债迟早将面临非常痛苦的清算日。</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>One Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</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\">\nOne Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-16 09:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.</p><p><blockquote>一个月前，我们报道了美国银行发布了一个新的专有指标来跟踪暂时性通胀水平，顺便提一下，该指标的最高读数为100。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ff143ecaa5048b85057495194244af83\" tg-width=\"707\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Of course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used cars, new cars, lodging, and transportation services together accounted for 70bp of the 88bp increase in broader core CPI as discussed previously. As a result, core CPI surged 0.9% mom in June: these components primarily reflected the price pressures from goods shortages and the reopening. To no surprise, the BofA US transitory inflation meter (TIM) remained at 100 this month, because it simply couldn't rise any further.</p><p><blockquote>当然，自那以后情况只会变得更糟，本周早些时候发布的6月份消费者物价指数报告显示，暂时性价格压力再次爆发。如前所述，二手车、新车、住宿和交通服务合计占更广泛核心CPI上涨88个基点的70个基点。因此，6月份核心CPI环比飙升0.9%：这些组成部分主要反映了商品短缺和重新开放带来的价格压力。毫不奇怪，美国银行美国暂时性通胀指标(TIM)本月保持在100，因为它根本无法进一步上涨。</blockquote></p><p> But while the transitory strength in inflation took the spotlight, another development in the June CPI report - which we had discussedextensively before- was a strong 0.32% increase in owners’ equivalent rent (OER) which is a far stickier source of inflation and whichGoldman sees hitting 4% around the end of 2022.</p><p><blockquote>不过，尽管通胀的暂时走强引起了人们的关注，但6月份CPI报告中的另一项进展（我们之前曾广泛讨论过）是业主等值租金(OER)强劲增长0.32%，这是通胀的粘性更大的来源，高盛预计到2022年底将达到4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/29e8197cd3b3f73d48338d5b01164364\" tg-width=\"960\" tg-height=\"604\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, persistent inflation looks to be rising sharply as well.</p><p><blockquote>换句话说，持续的通胀看起来也在急剧上升。</blockquote></p><p> This, as Bank of America economist Alex Lin writes today, highlights the importance of being able to track persistent inflation while keeping transitory inflation in perspective.</p><p><blockquote>正如美国银行经济学家亚历克斯·林(Alex Lin)今天所写的那样，这凸显了能够跟踪持续通胀同时正确看待暂时性通胀的重要性。</blockquote></p><p> So to get a more complete picture of current inflation dynamics, BofA has revised its transitory inflation meter with the BofA US Persistent Inflation Meter (PIM), and here, a shock:<b>it soared to 75 in June from 37 in May, indicating elevated</b><b><u>persistent</u></b><b>, as in non-transitory,&nbsp; inflation.</b></p><p><blockquote>因此，为了更全面地了解当前的通胀动态，美国银行通过美国银行美国持续通胀表（PIM）修订了其暂时性通胀表，这里令人震惊：<b>从5月份的37飙升至6月份的75，表明</b><b><u>持续存在的</u></b><b>如非暂时性通货膨胀。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc907b44c17cb542b759a78f8c15f76d\" tg-width=\"713\" tg-height=\"438\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This confirms that contrary to its best wishes, the Fed already has a major headache on its hands. Furthermore, as Deutsche Bank pointed out earlier this week,<b>Wall Street consensus inflation expectations for 2022 are already well above 2%,</b>which is impossible if inflation is transitory and if there is going to be a deflationary phase after the current burst in transitory inflation ends.</p><p><blockquote>这证实，与其最美好的愿望相反，美联储已经有了一个令人头疼的问题。此外，正如德意志银行本周早些时候指出的那样，<b>华尔街对2022年的普遍通胀预期已经远高于2%，</b>如果通胀是暂时性的，并且在当前暂时性通胀爆发结束后将出现通缩阶段，这是不可能的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/92086971b86a9511afb50387980e3995\" tg-width=\"720\" tg-height=\"448\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, the Fed is again wrong and sooner or later, 10Y yields which continue to pretend that everything is fine, will face a day of very painful reckoning.</p><p><blockquote>换句话说，美联储又错了，继续假装一切都很好的10年期国债迟早将面临非常痛苦的清算日。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/economics/one-banks-non-transitory-inflation-meter-just-exploded\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF","BAC":"美国银行"},"source_url":"https://www.zerohedge.com/economics/one-banks-non-transitory-inflation-meter-just-exploded","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122107992","content_text":"One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.\n\nOf course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used cars, new cars, lodging, and transportation services together accounted for 70bp of the 88bp increase in broader core CPI as discussed previously. As a result, core CPI surged 0.9% mom in June: these components primarily reflected the price pressures from goods shortages and the reopening. To no surprise, the BofA US transitory inflation meter (TIM) remained at 100 this month, because it simply couldn't rise any further.\nBut while the transitory strength in inflation took the spotlight, another development in the June CPI report - which we had discussedextensively before- was a strong 0.32% increase in owners’ equivalent rent (OER) which is a far stickier source of inflation and whichGoldman sees hitting 4% around the end of 2022.\n\nIn other words, persistent inflation looks to be rising sharply as well.\nThis, as Bank of America economist Alex Lin writes today, highlights the importance of being able to track persistent inflation while keeping transitory inflation in perspective.\nSo to get a more complete picture of current inflation dynamics, BofA has revised its transitory inflation meter with the BofA US Persistent Inflation Meter (PIM), and here, a shock:it soared to 75 in June from 37 in May, indicating elevatedpersistent, as in non-transitory,  inflation.\n\nThis confirms that contrary to its best wishes, the Fed already has a major headache on its hands. Furthermore, as Deutsche Bank pointed out earlier this week,Wall Street consensus inflation expectations for 2022 are already well above 2%,which is impossible if inflation is transitory and if there is going to be a deflationary phase after the current burst in transitory inflation ends.\n\nIn other words, the Fed is again wrong and sooner or later, 10Y yields which continue to pretend that everything is fine, will face a day of very painful 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look good","listText":"Don't look good","text":"Don't look 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