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2021-08-05

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2021-08-04

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2021-08-03

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2021-08-02

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Can Tesla's stock price return to the upward channel?<blockquote>特斯拉股价能否重回上升通道？</blockquote>

2021-08-01

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2021-07-30

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2021-07-29

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2021-07-28

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2021-07-27

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2021-07-26

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2021-07-25

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Will NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote>

2021-07-24

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2021-07-23

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2021-07-21

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2021-07-20

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Is Now The Time To Buy Into Nvidia, AMC, Or GameStop?<blockquote>现在是收购英伟达、AMC或者游戏驿站的时候了吗？</blockquote>

2021-07-19

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Bond Yields Are Puking Again...<blockquote>债券收益率又吐了……</blockquote>

2021-07-13

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2021-07-11

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2 Growth Stocks for the Next 10 Years<blockquote>未来10年的2只成长型股票</blockquote>

2021-07-10

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2021-07-07

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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627898076,"share":"https://www.laohu8.com/m/news/1131923658?lang=zh_CN&edition=full","pubTime":"2021-08-02 17:54","market":"us","language":"en","title":"Can Tesla's stock price return to the upward channel?<blockquote>特斯拉股价能否重回上升通道？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131923658","media":"Tiger Newspress","summary":"Tesla released Q2 earnings and revenues last week that beat analysts' expectations.\n\"In the second q","content":"<p>Tesla released Q2 earnings and revenues last week that beat analysts' expectations.</p><p><blockquote>特斯拉上周发布的第二季度盈利和收入超出了分析师的预期。</blockquote></p><p> \"In the second quarter of 2021, we broke new and notable records,\" said Tesla in the company's second-quarter update. \"We produced and delivered over 200,000 vehicles, achieved an operating margin of 11% and exceeded [$1 billion] of GAAP net income for the first time in our history.\"</p><p><blockquote>特斯拉在公司第二季度更新中表示：“2021年第二季度，我们打破了新的、引人注目的记录。”“我们生产和交付了超过200,000辆汽车，实现了11%的营业利润率，并在我们历史上首次超过[10亿美元]GAAP净利润。”</blockquote></p><p> Here's a closer look at the quarter, captured by five must-see takeaways from the report.</p><p><blockquote>以下是对本季度的近距离观察，其中包括报告中的五个必看要点。</blockquote></p><p> <b>1. Revenue hit $12 billion</b></p><p><blockquote><b>1.营收达到120亿美元</b></blockquote></p><p> Helped by a 121% year-over-year increase in vehicle deliveries, Tesla's revenue surged 98% year over year to approximately $12 billion. This crushed analysts' average forecast for revenue of $11.3 billion.</p><p><blockquote>得益于汽车交付量同比增长121%，特斯拉的收入同比飙升98%，达到约120亿美元。这超出了分析师113亿美元营收的平均预期。</blockquote></p><p> <b>2. Profits skyrocketed</b></p><p><blockquote><b>2、利润暴涨</b></blockquote></p><p> Of course, with revenue like this, it wasn't surprising to see profits soar. Net income increased from $104 million in the year-ago period to $1.14 billion. Non-GAAP (adjusted) net income increased 258% year over year to $1.6 billion. This translated to non-GAAP earnings per share of $1.45 -- far ahead of a consensus analyst estimate of $0.98.</p><p><blockquote>当然，有了这样的收入，利润飙升也就不足为奇了。净利润从去年同期的1.04亿美元增至11.4亿美元。非GAAP（调整后）净利润同比增长258%至16亿美元。这意味着非GAAP每股收益为1.45美元，远高于分析师普遍预期的0.98美元。</blockquote></p><p> The outsized growth in Tesla's profits demonstrates the scalability of the company's business model.</p><p><blockquote>特斯拉利润的大幅增长表明了该公司商业模式的可扩展性。</blockquote></p><p> <b>3. Free cash flow remains healthy</b></p><p><blockquote><b>3.自由现金流保持健康</b></blockquote></p><p> Tesla once again generated positive free cash flow, or cash flow from operations less capital expenditures. Free cash flow for the period increased from $418 million in the year-ago period to $619 million.</p><p><blockquote>特斯拉再次产生了正的自由现金流，即运营现金流减去资本支出。期内自由现金流从去年同期的4.18亿美元增至6.19亿美元。</blockquote></p><p> Total cash on hand fell from $17.1 billion in the first quarter of 2021 to $16.2 billion but this was primarily due to $1.6 billion in net debt and finance lease repayments.</p><p><blockquote>手头现金总额从2021年第一季度的171亿美元下降至162亿美元，但这主要是由于16亿美元的净债务和融资租赁还款。</blockquote></p><p> <b>4. Vehicle demand is robust</b></p><p><blockquote><b>四、车辆需求旺盛</b></blockquote></p><p> Tesla once again said demand for its vehicles achieved record levels. Indeed, demand is so robust that the company is supply constrained. \"Global demand continues to be robust, and we are producing at the limits of available parts supply,\" Tesla explained.</p><p><blockquote>特斯拉再次表示，对其汽车的需求达到了创纪录的水平。事实上，需求如此强劲，以至于该公司的供应受到限制。“全球需求持续强劲，我们正在现有零部件供应的极限下进行生产，”特斯拉解释道。</blockquote></p><p> <b>5. There's more sharp growth to come</b></p><p><blockquote><b>5.未来还会有更大幅度的增长</b></blockquote></p><p> Importantly, Tesla remains optimistic about its growth trajectory. The company says it continues to expect to grow its total deliveries more than 50% year over year this year. This implies 2021 total deliveries of more than 750,000. So far, Tesla has delivered more than 386,000 vehicles this year.</p><p><blockquote>重要的是，特斯拉对其增长轨迹保持乐观。该公司表示，预计今年的总交付量将同比增长50%以上。这意味着2021年总交付量将超过75万辆。截至目前，特斯拉今年已交付超过38.6万辆汽车。</blockquote></p><p> \"The rate of growth will depend on our equipment capacity, operational efficiency, and the capacity and stability of the supply chain,\" Tesla noted.</p><p><blockquote>“增长率将取决于我们的设备容量、运营效率以及供应链的容量和稳定性，”特斯拉指出。</blockquote></p><p> <h4>Four Challenges to Tesla’s Growth</h4> However,investors are concerned with several factors that may slow Tesla's feverish share price growth soon.</p><p><blockquote><h4>特斯拉经济增长面临的四大挑战</h4>然而，投资者担心几个因素可能会很快减缓特斯拉狂热的股价增长。</blockquote></p><p> <b>High Valuation</b></p><p><blockquote><b>高估值</b></blockquote></p><p> Wall Street is an efficient market, discounting good news and bad news on listed companies. As a result, shares are run-up ahead of good news and sold-off ahead of bad news. Sometimes, Mr. Market—to use Benjamin Graham's terminology—is too optimistic, sending the shares of listed companies well above their fundamental or intrinsic value. Other times, Mr. Market is too pessimistic, sending shares of listed companies well below their intrinsic value.</p><p><blockquote>华尔街是一个有效的市场，对上市公司的好消息和坏消息都进行了贴现。因此，股价在好消息之前上涨，在坏消息之前遭到抛售。有时，市场先生——用本杰明·格雷厄姆的术语来说——过于乐观，导致上市公司的股价远高于其基本或内在价值。其他时候，先生。市场过于悲观，导致上市公司股价远低于其内在价值。</blockquote></p><p> Tesla's shares are overvalued by many standards. TipRanks, for instance, estimates Tesla's 12-month-trailing return on equity to be a modest 12.41%, while estimates put Tesla's intrinsic value at $160.11, well below its current price level.</p><p><blockquote>从许多标准来看，特斯拉的股价都被高估了。例如，TipRanks估计特斯拉过去12个月的股本回报率为12.41%，而特斯拉的内在价值估计为160.11美元，远低于当前的价格水平。</blockquote></p><p> <b>Competition from Colonizers</b></p><p><blockquote><b>来自殖民者的竞争</b></blockquote></p><p> Once, Tesla had little competition, as the electric vehicle (EV) market it pioneered had little competition from traditional automakers. However, that's no longer the case, as General Motors, Ford, Volkswagen, and Toyota are invading the electric market.</p><p><blockquote>曾经，特斯拉几乎没有竞争，因为它开创的电动汽车（EV）市场几乎没有来自传统汽车制造商的竞争。然而，随着通用汽车、福特、大众和丰田正在入侵电动市场，情况已不再如此。</blockquote></p><p> These \"colonizers\" of the EV market have the manufacturing experience, expertise, and distribution networks to scale up EV production and cross the \"tipping point\" of bringing EVs to the masses. Meanwhile, the entry of new competitors into the EV market could unleash price competition that will erode Tesla's revenue growth and profit margins. That's something Wall Street is watching closely in quarterly financial statements.</p><p><blockquote>这些电动汽车市场的“殖民者”拥有制造经验、专业知识和分销网络，可以扩大电动汽车生产规模，跨越将电动汽车推向大众的“临界点”。与此同时，新竞争对手进入电动汽车市场可能会引发价格竞争，从而削弱特斯拉的收入增长和利润率。这是华尔街在季度财务报表中密切关注的事情。</blockquote></p><p> <b>Bitcoin Exposure</b></p><p><blockquote><b>比特币风险</b></blockquote></p><p> Tesla's CEO Elon Musk has an affinity for bitcoin. That's why he has been investing some of the company's cash in digital currency. As of the end of March, Tesla's $1.5 billion investment was worth $2.48 billion, based on the surge in bitcoin in the first quarter. However, that has its risks, too, given bitcoin's volatility.</p><p><blockquote>特斯拉CEO Elon Musk对比特币情有独钟。这就是为什么他一直将公司的部分现金投资于数字货币。截至3月底，特斯拉15亿美元的投资价值24.8亿美元，以第一季度比特币的激增计算。然而，考虑到比特币的波动性，这也有其风险。</blockquote></p><p> Adding to bitcoin's volatility are accounting rules that treat the digital currency as an indefinite-lived intangible asset. Thus, it is subject to impairment losses if its fair value decreases below the carrying value during the assessed reporting period. Companies cannot recover impairment losses for any subsequent increase in fair value until the asset's sale. Tesla reported bitcoin-related impairments of $23 million in Q2 as the price of digital currency dived.</p><p><blockquote>将数字货币视为无限期无形资产的会计规则加剧了比特币的波动性。因此，倘其公平值于评估报告期内减值至低于账面值，则须计提减值亏损。在资产出售之前，公司无法收回公允价值后续增加的减值损失。随着数字货币价格暴跌，特斯拉报告第二季度与比特币相关的减值为2300万美元。</blockquote></p><p> <b>Rising Material Costs</b></p><p><blockquote><b>材料成本上升</b></blockquote></p><p></p><p> Together with traditional automobile makers, Tesla faces a severe material shortage due to supply chain disruptions during the COVID-19 pandemic, which is expected to slow down the pace of its feverish growth.</p><p><blockquote>由于COVID-19大流行期间供应链中断，特斯拉与传统汽车制造商一起面临严重的材料短缺，预计这将减缓其狂热增长的步伐。</blockquote></p><p> \"While we're making cars at full speed, the global chip shortage situation remains quite serious,\" Musk told investors. \"For the rest of this year, our growth rates will be determined by the slowest part in our supply chain,\" adding that there are a wide range of chips that will serve as that brake on growth.</p><p><blockquote>“在我们全速造车的同时，全球芯片短缺的情况仍然相当严重，”马斯克告诉投资者。“在今年剩余时间里，我们的增长率将取决于供应链中最慢的部分，”他补充说，有多种芯片将成为增长的刹车。</blockquote></p><p> <h4>Mixed reviews from Wall Street</h4> Needham analyst Rajvindra Gill said Tesla shares are already priced to perfection, which could explain the stock’s weakness on Tuesday.</p><p><blockquote><h4>华尔街褒贬不一</h4>Needham分析师Rajvindra Gill表示，特斯拉股票的定价已经非常完美，这可以解释该股周二的疲软。</blockquote></p><p> “Tesla's ‘priced to perfection’ valuation is hard for us to justify, even with more positive recent Results,” Gill wrote.</p><p><blockquote>吉尔写道：“即使最近的业绩更加积极，我们也很难证明特斯拉‘定价完美’的估值是合理的。”</blockquote></p><p> Morgan Stanley analyst Adam Jonas said the quarter likely didn’t change the narrative for bulls or bears, and Tesla is still not a value stock priced at an enterprise multiple of 70x.</p><p><blockquote>Morgan Stanley分析师Adam Jonas表示，本季度可能不会改变多头或空头的说法，特斯拉仍然不是企业市盈率70倍的价值股。</blockquote></p><p> “Tesla is not only among the fastest growing auto companies in the world, it is also one of the most profitable,” Jonas wrote.</p><p><blockquote>“特斯拉不仅是世界上增长最快的汽车公司之一，也是最赚钱的公司之一，”Jonas写道。</blockquote></p><p> Wells Fargo analyst Colin Langan said auto gross margins were impressive, but they may not last.</p><p><blockquote>富国银行分析师Colin Langan表示，汽车毛利率令人印象深刻，但可能不会持续。</blockquote></p><p> “We see auto margins moderating in Q3/Q4 due to rising raw mat costs and mix dilution as the lower priced Model Y SR launches in China,” Langran wrote.</p><p><blockquote>Langran写道：“随着价格较低的Model Y SR在中国推出，由于原材料成本上升和混合动力稀释，我们预计第三季度/第四季度汽车利润率将放缓。”</blockquote></p><p> John Murphy with B. of A. Securities struck a more cautious tone. Despite the beat, \"competition is fierce and heating up,\" he said. \"(Tesla's) operating environment is shifting from that of a vacuum to an increasingly crowded space.\"</p><p><blockquote>B.of A.Securities的约翰·墨菲(John Murphy)的语气更加谨慎。尽管节奏很慢，但“竞争非常激烈，而且正在升温，”他说。“（特斯拉的）运营环境正在从真空转向日益拥挤的空间。”</blockquote></p><p> The quarterly beat was \"very much helped by positive pricing dynamics and good execution,\" and Murphy raised his price target on the stock to $800 from $750, which represents an upside around 26% from Tuesday's prices. He kept B. of A.'s neutral rating on the stock.</p><p><blockquote>季度业绩“在很大程度上得益于积极的定价动态和良好的执行力”，墨菲将该股的目标价从750美元上调至800美元，较周二的价格上涨约26%。他维持B.of A.对该股的中性评级。</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>Can Tesla's stock price return to the upward channel?<blockquote>特斯拉股价能否重回上升通道？</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\">\nCan Tesla's stock price return to the upward channel?<blockquote>特斯拉股价能否重回上升通道？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-02 17:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tesla released Q2 earnings and revenues last week that beat analysts' expectations.</p><p><blockquote>特斯拉上周发布的第二季度盈利和收入超出了分析师的预期。</blockquote></p><p> \"In the second quarter of 2021, we broke new and notable records,\" said Tesla in the company's second-quarter update. \"We produced and delivered over 200,000 vehicles, achieved an operating margin of 11% and exceeded [$1 billion] of GAAP net income for the first time in our history.\"</p><p><blockquote>特斯拉在公司第二季度更新中表示：“2021年第二季度，我们打破了新的、引人注目的记录。”“我们生产和交付了超过200,000辆汽车，实现了11%的营业利润率，并在我们历史上首次超过[10亿美元]GAAP净利润。”</blockquote></p><p> Here's a closer look at the quarter, captured by five must-see takeaways from the report.</p><p><blockquote>以下是对本季度的近距离观察，其中包括报告中的五个必看要点。</blockquote></p><p> <b>1. Revenue hit $12 billion</b></p><p><blockquote><b>1.营收达到120亿美元</b></blockquote></p><p> Helped by a 121% year-over-year increase in vehicle deliveries, Tesla's revenue surged 98% year over year to approximately $12 billion. This crushed analysts' average forecast for revenue of $11.3 billion.</p><p><blockquote>得益于汽车交付量同比增长121%，特斯拉的收入同比飙升98%，达到约120亿美元。这超出了分析师113亿美元营收的平均预期。</blockquote></p><p> <b>2. Profits skyrocketed</b></p><p><blockquote><b>2、利润暴涨</b></blockquote></p><p> Of course, with revenue like this, it wasn't surprising to see profits soar. Net income increased from $104 million in the year-ago period to $1.14 billion. Non-GAAP (adjusted) net income increased 258% year over year to $1.6 billion. This translated to non-GAAP earnings per share of $1.45 -- far ahead of a consensus analyst estimate of $0.98.</p><p><blockquote>当然，有了这样的收入，利润飙升也就不足为奇了。净利润从去年同期的1.04亿美元增至11.4亿美元。非GAAP（调整后）净利润同比增长258%至16亿美元。这意味着非GAAP每股收益为1.45美元，远高于分析师普遍预期的0.98美元。</blockquote></p><p> The outsized growth in Tesla's profits demonstrates the scalability of the company's business model.</p><p><blockquote>特斯拉利润的大幅增长表明了该公司商业模式的可扩展性。</blockquote></p><p> <b>3. Free cash flow remains healthy</b></p><p><blockquote><b>3.自由现金流保持健康</b></blockquote></p><p> Tesla once again generated positive free cash flow, or cash flow from operations less capital expenditures. Free cash flow for the period increased from $418 million in the year-ago period to $619 million.</p><p><blockquote>特斯拉再次产生了正的自由现金流，即运营现金流减去资本支出。期内自由现金流从去年同期的4.18亿美元增至6.19亿美元。</blockquote></p><p> Total cash on hand fell from $17.1 billion in the first quarter of 2021 to $16.2 billion but this was primarily due to $1.6 billion in net debt and finance lease repayments.</p><p><blockquote>手头现金总额从2021年第一季度的171亿美元下降至162亿美元，但这主要是由于16亿美元的净债务和融资租赁还款。</blockquote></p><p> <b>4. Vehicle demand is robust</b></p><p><blockquote><b>四、车辆需求旺盛</b></blockquote></p><p> Tesla once again said demand for its vehicles achieved record levels. Indeed, demand is so robust that the company is supply constrained. \"Global demand continues to be robust, and we are producing at the limits of available parts supply,\" Tesla explained.</p><p><blockquote>特斯拉再次表示，对其汽车的需求达到了创纪录的水平。事实上，需求如此强劲，以至于该公司的供应受到限制。“全球需求持续强劲，我们正在现有零部件供应的极限下进行生产，”特斯拉解释道。</blockquote></p><p> <b>5. There's more sharp growth to come</b></p><p><blockquote><b>5.未来还会有更大幅度的增长</b></blockquote></p><p> Importantly, Tesla remains optimistic about its growth trajectory. The company says it continues to expect to grow its total deliveries more than 50% year over year this year. This implies 2021 total deliveries of more than 750,000. So far, Tesla has delivered more than 386,000 vehicles this year.</p><p><blockquote>重要的是，特斯拉对其增长轨迹保持乐观。该公司表示，预计今年的总交付量将同比增长50%以上。这意味着2021年总交付量将超过75万辆。截至目前，特斯拉今年已交付超过38.6万辆汽车。</blockquote></p><p> \"The rate of growth will depend on our equipment capacity, operational efficiency, and the capacity and stability of the supply chain,\" Tesla noted.</p><p><blockquote>“增长率将取决于我们的设备容量、运营效率以及供应链的容量和稳定性，”特斯拉指出。</blockquote></p><p> <h4>Four Challenges to Tesla’s Growth</h4> However,investors are concerned with several factors that may slow Tesla's feverish share price growth soon.</p><p><blockquote><h4>特斯拉经济增长面临的四大挑战</h4>然而，投资者担心几个因素可能会很快减缓特斯拉狂热的股价增长。</blockquote></p><p> <b>High Valuation</b></p><p><blockquote><b>高估值</b></blockquote></p><p> Wall Street is an efficient market, discounting good news and bad news on listed companies. As a result, shares are run-up ahead of good news and sold-off ahead of bad news. Sometimes, Mr. Market—to use Benjamin Graham's terminology—is too optimistic, sending the shares of listed companies well above their fundamental or intrinsic value. Other times, Mr. Market is too pessimistic, sending shares of listed companies well below their intrinsic value.</p><p><blockquote>华尔街是一个有效的市场，对上市公司的好消息和坏消息都进行了贴现。因此，股价在好消息之前上涨，在坏消息之前遭到抛售。有时，市场先生——用本杰明·格雷厄姆的术语来说——过于乐观，导致上市公司的股价远高于其基本或内在价值。其他时候，先生。市场过于悲观，导致上市公司股价远低于其内在价值。</blockquote></p><p> Tesla's shares are overvalued by many standards. TipRanks, for instance, estimates Tesla's 12-month-trailing return on equity to be a modest 12.41%, while estimates put Tesla's intrinsic value at $160.11, well below its current price level.</p><p><blockquote>从许多标准来看，特斯拉的股价都被高估了。例如，TipRanks估计特斯拉过去12个月的股本回报率为12.41%，而特斯拉的内在价值估计为160.11美元，远低于当前的价格水平。</blockquote></p><p> <b>Competition from Colonizers</b></p><p><blockquote><b>来自殖民者的竞争</b></blockquote></p><p> Once, Tesla had little competition, as the electric vehicle (EV) market it pioneered had little competition from traditional automakers. However, that's no longer the case, as General Motors, Ford, Volkswagen, and Toyota are invading the electric market.</p><p><blockquote>曾经，特斯拉几乎没有竞争，因为它开创的电动汽车（EV）市场几乎没有来自传统汽车制造商的竞争。然而，随着通用汽车、福特、大众和丰田正在入侵电动市场，情况已不再如此。</blockquote></p><p> These \"colonizers\" of the EV market have the manufacturing experience, expertise, and distribution networks to scale up EV production and cross the \"tipping point\" of bringing EVs to the masses. Meanwhile, the entry of new competitors into the EV market could unleash price competition that will erode Tesla's revenue growth and profit margins. That's something Wall Street is watching closely in quarterly financial statements.</p><p><blockquote>这些电动汽车市场的“殖民者”拥有制造经验、专业知识和分销网络，可以扩大电动汽车生产规模，跨越将电动汽车推向大众的“临界点”。与此同时，新竞争对手进入电动汽车市场可能会引发价格竞争，从而削弱特斯拉的收入增长和利润率。这是华尔街在季度财务报表中密切关注的事情。</blockquote></p><p> <b>Bitcoin Exposure</b></p><p><blockquote><b>比特币风险</b></blockquote></p><p> Tesla's CEO Elon Musk has an affinity for bitcoin. That's why he has been investing some of the company's cash in digital currency. As of the end of March, Tesla's $1.5 billion investment was worth $2.48 billion, based on the surge in bitcoin in the first quarter. However, that has its risks, too, given bitcoin's volatility.</p><p><blockquote>特斯拉CEO Elon Musk对比特币情有独钟。这就是为什么他一直将公司的部分现金投资于数字货币。截至3月底，特斯拉15亿美元的投资价值24.8亿美元，以第一季度比特币的激增计算。然而，考虑到比特币的波动性，这也有其风险。</blockquote></p><p> Adding to bitcoin's volatility are accounting rules that treat the digital currency as an indefinite-lived intangible asset. Thus, it is subject to impairment losses if its fair value decreases below the carrying value during the assessed reporting period. Companies cannot recover impairment losses for any subsequent increase in fair value until the asset's sale. Tesla reported bitcoin-related impairments of $23 million in Q2 as the price of digital currency dived.</p><p><blockquote>将数字货币视为无限期无形资产的会计规则加剧了比特币的波动性。因此，倘其公平值于评估报告期内减值至低于账面值，则须计提减值亏损。在资产出售之前，公司无法收回公允价值后续增加的减值损失。随着数字货币价格暴跌，特斯拉报告第二季度与比特币相关的减值为2300万美元。</blockquote></p><p> <b>Rising Material Costs</b></p><p><blockquote><b>材料成本上升</b></blockquote></p><p></p><p> Together with traditional automobile makers, Tesla faces a severe material shortage due to supply chain disruptions during the COVID-19 pandemic, which is expected to slow down the pace of its feverish growth.</p><p><blockquote>由于COVID-19大流行期间供应链中断，特斯拉与传统汽车制造商一起面临严重的材料短缺，预计这将减缓其狂热增长的步伐。</blockquote></p><p> \"While we're making cars at full speed, the global chip shortage situation remains quite serious,\" Musk told investors. \"For the rest of this year, our growth rates will be determined by the slowest part in our supply chain,\" adding that there are a wide range of chips that will serve as that brake on growth.</p><p><blockquote>“在我们全速造车的同时，全球芯片短缺的情况仍然相当严重，”马斯克告诉投资者。“在今年剩余时间里，我们的增长率将取决于供应链中最慢的部分，”他补充说，有多种芯片将成为增长的刹车。</blockquote></p><p> <h4>Mixed reviews from Wall Street</h4> Needham analyst Rajvindra Gill said Tesla shares are already priced to perfection, which could explain the stock’s weakness on Tuesday.</p><p><blockquote><h4>华尔街褒贬不一</h4>Needham分析师Rajvindra Gill表示，特斯拉股票的定价已经非常完美，这可以解释该股周二的疲软。</blockquote></p><p> “Tesla's ‘priced to perfection’ valuation is hard for us to justify, even with more positive recent Results,” Gill wrote.</p><p><blockquote>吉尔写道：“即使最近的业绩更加积极，我们也很难证明特斯拉‘定价完美’的估值是合理的。”</blockquote></p><p> Morgan Stanley analyst Adam Jonas said the quarter likely didn’t change the narrative for bulls or bears, and Tesla is still not a value stock priced at an enterprise multiple of 70x.</p><p><blockquote>Morgan Stanley分析师Adam Jonas表示，本季度可能不会改变多头或空头的说法，特斯拉仍然不是企业市盈率70倍的价值股。</blockquote></p><p> “Tesla is not only among the fastest growing auto companies in the world, it is also one of the most profitable,” Jonas wrote.</p><p><blockquote>“特斯拉不仅是世界上增长最快的汽车公司之一，也是最赚钱的公司之一，”Jonas写道。</blockquote></p><p> Wells Fargo analyst Colin Langan said auto gross margins were impressive, but they may not last.</p><p><blockquote>富国银行分析师Colin Langan表示，汽车毛利率令人印象深刻，但可能不会持续。</blockquote></p><p> “We see auto margins moderating in Q3/Q4 due to rising raw mat costs and mix dilution as the lower priced Model Y SR launches in China,” Langran wrote.</p><p><blockquote>Langran写道：“随着价格较低的Model Y SR在中国推出，由于原材料成本上升和混合动力稀释，我们预计第三季度/第四季度汽车利润率将放缓。”</blockquote></p><p> John Murphy with B. of A. Securities struck a more cautious tone. Despite the beat, \"competition is fierce and heating up,\" he said. \"(Tesla's) operating environment is shifting from that of a vacuum to an increasingly crowded space.\"</p><p><blockquote>B.of A.Securities的约翰·墨菲(John Murphy)的语气更加谨慎。尽管节奏很慢，但“竞争非常激烈，而且正在升温，”他说。“（特斯拉的）运营环境正在从真空转向日益拥挤的空间。”</blockquote></p><p> The quarterly beat was \"very much helped by positive pricing dynamics and good execution,\" and Murphy raised his price target on the stock to $800 from $750, which represents an upside around 26% from Tuesday's prices. He kept B. of A.'s neutral rating on the stock.</p><p><blockquote>季度业绩“在很大程度上得益于积极的定价动态和良好的执行力”，墨菲将该股的目标价从750美元上调至800美元，较周二的价格上涨约26%。他维持B.of A.对该股的中性评级。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131923658","content_text":"Tesla released Q2 earnings and revenues last week that beat analysts' expectations.\n\"In the second quarter of 2021, we broke new and notable records,\" said Tesla in the company's second-quarter update. \"We produced and delivered over 200,000 vehicles, achieved an operating margin of 11% and exceeded [$1 billion] of GAAP net income for the first time in our history.\"\nHere's a closer look at the quarter, captured by five must-see takeaways from the report.\n1. Revenue hit $12 billion\nHelped by a 121% year-over-year increase in vehicle deliveries, Tesla's revenue surged 98% year over year to approximately $12 billion. This crushed analysts' average forecast for revenue of $11.3 billion.\n2. Profits skyrocketed\nOf course, with revenue like this, it wasn't surprising to see profits soar. Net income increased from $104 million in the year-ago period to $1.14 billion. Non-GAAP (adjusted) net income increased 258% year over year to $1.6 billion. This translated to non-GAAP earnings per share of $1.45 -- far ahead of a consensus analyst estimate of $0.98.\nThe outsized growth in Tesla's profits demonstrates the scalability of the company's business model.\n3. Free cash flow remains healthy\nTesla once again generated positive free cash flow, or cash flow from operations less capital expenditures. Free cash flow for the period increased from $418 million in the year-ago period to $619 million.\nTotal cash on hand fell from $17.1 billion in the first quarter of 2021 to $16.2 billion but this was primarily due to $1.6 billion in net debt and finance lease repayments.\n4. Vehicle demand is robust\nTesla once again said demand for its vehicles achieved record levels. Indeed, demand is so robust that the company is supply constrained. \"Global demand continues to be robust, and we are producing at the limits of available parts supply,\" Tesla explained.\n5. There's more sharp growth to come\nImportantly, Tesla remains optimistic about its growth trajectory. The company says it continues to expect to grow its total deliveries more than 50% year over year this year. This implies 2021 total deliveries of more than 750,000. So far, Tesla has delivered more than 386,000 vehicles this year.\n\"The rate of growth will depend on our equipment capacity, operational efficiency, and the capacity and stability of the supply chain,\" Tesla noted.\nFour Challenges to Tesla’s Growth\nHowever,investors are concerned with several factors that may slow Tesla's feverish share price growth soon.\nHigh Valuation\nWall Street is an efficient market, discounting good news and bad news on listed companies. As a result, shares are run-up ahead of good news and sold-off ahead of bad news. Sometimes, Mr. Market—to use Benjamin Graham's terminology—is too optimistic, sending the shares of listed companies well above their fundamental or intrinsic value. Other times, Mr. Market is too pessimistic, sending shares of listed companies well below their intrinsic value.\nTesla's shares are overvalued by many standards. TipRanks, for instance, estimates Tesla's 12-month-trailing return on equity to be a modest 12.41%, while estimates put Tesla's intrinsic value at $160.11, well below its current price level.\nCompetition from Colonizers\nOnce, Tesla had little competition, as the electric vehicle (EV) market it pioneered had little competition from traditional automakers. However, that's no longer the case, as General Motors, Ford, Volkswagen, and Toyota are invading the electric market.\nThese \"colonizers\" of the EV market have the manufacturing experience, expertise, and distribution networks to scale up EV production and cross the \"tipping point\" of bringing EVs to the masses. Meanwhile, the entry of new competitors into the EV market could unleash price competition that will erode Tesla's revenue growth and profit margins. That's something Wall Street is watching closely in quarterly financial statements.\nBitcoin Exposure\nTesla's CEO Elon Musk has an affinity for bitcoin. That's why he has been investing some of the company's cash in digital currency. As of the end of March, Tesla's $1.5 billion investment was worth $2.48 billion, based on the surge in bitcoin in the first quarter. However, that has its risks, too, given bitcoin's volatility.\nAdding to bitcoin's volatility are accounting rules that treat the digital currency as an indefinite-lived intangible asset. Thus, it is subject to impairment losses if its fair value decreases below the carrying value during the assessed reporting period. Companies cannot recover impairment losses for any subsequent increase in fair value until the asset's sale. Tesla reported bitcoin-related impairments of $23 million in Q2 as the price of digital currency dived.\nRising Material Costs\nTogether with traditional automobile makers, Tesla faces a severe material shortage due to supply chain disruptions during the COVID-19 pandemic, which is expected to slow down the pace of its feverish growth.\n\"While we're making cars at full speed, the global chip shortage situation remains quite serious,\" Musk told investors. \"For the rest of this year, our growth rates will be determined by the slowest part in our supply chain,\" adding that there are a wide range of chips that will serve as that brake on growth.\nMixed reviews from Wall Street\nNeedham analyst Rajvindra Gill said Tesla shares are already priced to perfection, which could explain the stock’s weakness on Tuesday.\n“Tesla's ‘priced to perfection’ valuation is hard for us to justify, even with more positive recent Results,” Gill wrote.\nMorgan Stanley analyst Adam Jonas said the quarter likely didn’t change the narrative for bulls or bears, and Tesla is still not a value stock priced at an enterprise multiple of 70x.\n“Tesla is not only among the fastest growing auto companies in the world, it is also one of the most profitable,” Jonas wrote.\nWells Fargo analyst Colin Langan said auto gross margins were impressive, but they may not last.\n“We see auto margins moderating in Q3/Q4 due to rising raw mat costs and mix dilution as the lower priced Model Y SR launches in China,” Langran wrote.\nJohn Murphy with B. of A. Securities struck a more cautious tone. Despite the beat, \"competition is fierce and heating up,\" he said. \"(Tesla's) operating environment is shifting from that of a vacuum to an increasingly crowded space.\"\nThe quarterly beat was \"very much helped by positive pricing dynamics and good execution,\" and Murphy raised his price target on the stock to $800 from $750, which represents an upside around 26% from Tuesday's prices. He kept B. of A.'s neutral rating on the stock.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2411,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802871267,"gmtCreate":1627772003059,"gmtModify":1633756615801,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802871267","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":2760,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806068253,"gmtCreate":1627617601972,"gmtModify":1633757714205,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/806068253","repostId":"2155184148","repostType":4,"isVote":1,"tweetType":1,"viewCount":2819,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801819343,"gmtCreate":1627506460482,"gmtModify":1633764439139,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/801819343","repostId":"1179923360","repostType":4,"isVote":1,"tweetType":1,"viewCount":1686,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803129016,"gmtCreate":1627428800235,"gmtModify":1633765175808,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/803129016","repostId":"2154991792","repostType":4,"isVote":1,"tweetType":1,"viewCount":2776,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800778267,"gmtCreate":1627336094159,"gmtModify":1633766119618,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/800778267","repostId":"2154957883","repostType":4,"isVote":1,"tweetType":1,"viewCount":1831,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177518284,"gmtCreate":1627251426348,"gmtModify":1633766984988,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/177518284","repostId":"2153878189","repostType":4,"isVote":1,"tweetType":1,"viewCount":1877,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177194854,"gmtCreate":1627185185378,"gmtModify":1633767344268,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/177194854","repostId":"1112927800","repostType":4,"repost":{"id":"1112927800","kind":"news","pubTimestamp":1627089375,"share":"https://www.laohu8.com/m/news/1112927800?lang=zh_CN&edition=full","pubTime":"2021-07-24 09:16","market":"us","language":"en","title":"Will NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112927800","media":"seekingalpha","summary":"Let's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.NIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.NIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.Both companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV p","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Let's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.</li>  <li>NIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.</li>  <li>NIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f749c70c8a2af3e18d5f6cecc72bfbb\" tg-width=\"1536\" tg-height=\"704\" referrerpolicy=\"no-referrer\"><span>ipopba/iStock via Getty Images</span></p><p><blockquote><ul><li>让我们来看看今天的蔚来与特斯拉相比如何，蔚来的独特卖点，以及两家公司的相似之处。</li><li>蔚来是一个高增长的选择，相对于特斯拉的估值，它似乎并不太昂贵。</li><li>然而，蔚来并不是一只低风险股票，它可能并不是每个人的好选择。投资者还应该考虑蔚来与传统汽车公司的估值。</li></ul><p class=\"t-img-caption\"><span>ipopba/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> NIO, Inc. (NIO) is one of China's leading EV players, and has, through an attractive brand and its unique BaaS offering, attracted a lot of interest from consumers and investors. Today, however, the company is still way smaller than Tesla (TSLA), which is currently leading the global EV market. NIO is focused on its home market right now, which was true when Tesla was a smaller company as well, but NIO will try to grab market share in overseas markets as well. Shares are pricing in a lot of growth already, but if NIO can replicate Tesla's success, that could be more than justified.</p><p><blockquote>蔚来公司（蔚来）是中国领先的电动汽车制造商之一，通过其有吸引力的品牌和独特的BaaS产品吸引了消费者和投资者的极大兴趣。然而，如今，该公司仍然比目前引领全球电动汽车市场的特斯拉（TSLA）小得多。蔚来目前专注于国内市场，当特斯拉还是一家较小的公司时也是如此，但蔚来也将试图在海外市场抢占市场份额。股价已经反映了很大的增长，但如果蔚来能够复制特斯拉的成功，这可能是非常合理的。</blockquote></p><p> <b>NIO And TSLA Stock Prices</b></p><p><blockquote><b>蔚来和特斯拉股价</b></blockquote></p><p> Both companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV pureplays rise rapidly. The combination of growing market share for EVs, accommodating policies such as subsidies for EV purchases, and massive monetary stimulus let shares of NIO and TSLA rise rapidly. NIO is up 245% over the last year, while TSLA is up 101% over the same time. Both companies are currently trading below their all-time highs, however, which were hit in early 2021 before market sentiment for EV pureplays cooled to some degree.</p><p><blockquote>2020年，两家公司都受益于人们对电动汽车日益增长的兴趣，这一趋势导致大多数纯电动汽车公司的股价迅速上涨。电动汽车市场份额不断增长、电动汽车购买补贴等宽松政策以及大规模货币刺激措施相结合，让蔚来和特斯拉的股价迅速上涨。蔚来去年上涨了245%，而特斯拉同期上涨了101%。然而，两家公司目前的交易价格均低于2021年初创下的历史高点，随后纯电动汽车的市场情绪在一定程度上降温。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5ff5ce865807df85283775d2293b41af\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Taking a quick look at analyst price targets, we see that Tesla is trading almost perfectly in line with the consensus, whereas NIO trades about 30% below the analyst target. If the analyst community is right, then NIO is a substantially better investment right here, as Tesla is not expected to see its shares rise meaningfully over the next year, whereas NIO has significant upside to the analyst price target.</p><p><blockquote>快速浏览一下分析师的目标价，我们发现特斯拉的交易价格几乎完全符合共识，而蔚来的交易价格比分析师目标低约30%。如果分析师界是正确的，那么蔚来是一项更好的投资，因为预计特斯拉的股价明年不会大幅上涨，而蔚来的股价较分析师目标价有显着上涨空间。</blockquote></p><p> <b>Is NIO Similar To Tesla?</b></p><p><blockquote><b>蔚来和特斯拉相似吗？</b></blockquote></p><p> The answer to that question depends on what you focus on. There are similarities between the two companies, but there are also differences. One could thus say that, in some ways, the two are similar, but in others, they are not. Let's look at a couple of things:</p><p><blockquote>这个问题的答案取决于你关注的是什么。两家公司有相似之处，但也有不同之处。因此，人们可以说，在某些方面，两者是相似的，但在另一些方面，它们不是。让我们看几件事：</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Both companies are focused on the EV space, although Tesla has, over the years, been building out a couple of other businesses as well, such as energy storage. Most of Tesla's revenues are generated through selling electric vehicles, which is also how NIO operates. Both companies are focused on the premium segment of EVs, selling higher-priced vehicles that compete with brands such as BMW, Mercedes, and Lexus. Both companies offer a small range of different vehicles, in Tesla's case those are the well-known S, X, 3, and Y, whereas NIO offers a sedan (ET7), and three SUVs (EC6, ES6, ES8). Despite the fact that NIO is a way smaller company today, the model lineups of the two companies do thus not differ too much.</p><p><blockquote>两家公司都专注于电动汽车领域，尽管特斯拉多年来也在发展其他一些业务，例如储能。特斯拉的大部分收入来自销售电动汽车，这也是蔚来的运营方式。两家公司都专注于电动汽车的高端市场，销售价格较高的汽车，与宝马、梅赛德斯和雷克萨斯等品牌竞争。两家公司都提供少量不同的车辆，特斯拉是著名的S、X、3和Y，而蔚来则提供一款轿车(ET7)和三款SUV(EC6、ES6、ES8)。尽管蔚来如今是一家规模较小的公司，但两家公司的车型阵容并没有太大差异。</blockquote></p><p> Both companies offer some type of charging infrastructure to their customers, in Tesla's case, that's the Supercharger network, where Tesla owners can charge their cars with up to 250kW, depending on what version of Supercharger is installed. NIO is following a different approach, offering a battery-as-a-service solution to its customers. NIO owners can get their battery switched out to a fully-charged battery at NIO's stations, a process that takes a couple of minutes and is thus significantly quicker compared to the regular EV charging offered by Tesla and other EV players. BaaS thus has advantages when it comes to the time it takes for a charge/swap, but it should be noted that Tesla's Superchargers are way more common around the world compared to NIO's battery-swapping stations. Rolling out that feature in additional markets will require large capital expenditures, but NIO's offering is a unique selling point compared to what all other EV players, including Tesla, are offering. It remains to be seen whether that will ultimately pay off, but this could become a major advantage for NIO as competition in the EV space is heating up.</p><p><blockquote>两家公司都向客户提供某种类型的充电基础设施，就特斯拉而言，这就是Supercharger网络，特斯拉车主可以根据安装的Supercharger版本为汽车充电高达250kW。蔚来正在采取不同的方法，为客户提供电池即服务解决方案。蔚来车主可以在蔚来的充电站将电池更换为充满电的电池，这一过程需要几分钟，因此与特斯拉和其他电动汽车厂商提供的常规电动汽车充电相比要快得多。因此，BaaS在充电/交换所需时间方面具有优势，但应该指出的是，与蔚来的电池交换站相比，特斯拉的超级充电站在世界各地更为常见。在其他市场推出该功能将需要大量资本支出，但与包括特斯拉在内的所有其他电动汽车厂商相比，蔚来的产品是一个独特的卖点。这最终是否会得到回报还有待观察，但随着电动汽车领域的竞争加剧，这可能成为蔚来的一大优势。</blockquote></p><p> <b>Size, growth, and valuation</b></p><p><blockquote><b>规模、增长和估值</b></blockquote></p><p></p><p> The two companies differ significantly in size, both when it comes to revenues and vehicle sales, as well as when it comes to the market value of the two companies. NIO has delivered22,000 vehicles in Q2, up 112% year over year, for an annual pace of around 90,000 vehicles. Tesla, meanwhile, has delivered 201,000 vehicles during Q2, up from 103,000 vehicles delivered during Q2 2020. This is strong growth on a year-over-year basis, although slightly below 100%, and thus below the growth rate that NIO is generating for now.</p><p><blockquote>这两家公司的规模差异很大，无论是在收入和汽车销量方面，还是在两家公司的市值方面。蔚来第二季度交付了22,000辆汽车，同比增长112%，年增长率约为90,000辆。与此同时，特斯拉在第二季度交付了201,000辆汽车，高于2020年第二季度的103,000辆汽车。这是一个强劲的同比增长，尽管略低于100%，因此低于蔚来目前的增长率。</blockquote></p><p> Tesla delivers around 9x as many vehicles compared to NIO per quarter, when we look at the market capitalizations of the two companies, we see that the ratio is almost exactly the same, as Tesla's market cap of $640 billion is ~9x as high as that of NIO, at $72 billion. At similar growth rates, that would make perfect sense, but it looks like NIO might be the better deal for now, as it trades at a comparable valuation while generating better growth. This will be especially true in the coming quarters, where Tesla's growth is expected to slow down:</p><p><blockquote>与蔚来相比，特斯拉每季度交付的汽车数量约为9倍，当我们查看两家公司的市值时，我们发现这一比例几乎完全相同，因为特斯拉6400亿美元的市值约为9倍。蔚来的市值为720亿美元。在类似的增长率下，这是完全有道理的，但目前看来蔚来可能是更好的交易，因为它的估值相当，同时产生更好的增长。在未来几个季度尤其如此，预计特斯拉的增长将放缓：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a986ea65130206f99961a46ce6cfed55\" tg-width=\"635\" tg-height=\"515\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Tesla is forecasted to grow its revenue from $49 billion in 2021 to $83 billion in 2023, for an annual growth rate of 30%. NIO, meanwhile, is expected to see its revenue explode upwards from $5.4 billion to $12.8 billion between 2021 and 2023, for an annual growth rate of 54%. NIO is thus expected to grow way faster than Tesla over the next two years, on a relative basis. This shouldn't be a surprise, to be honest, as the law of large numbers dictates that maintaining massive growth rates becomes increasingly hard for a company the bigger it gets, and Tesla seems to have hit that point by now -- adding 50%+ a year to its top line will not be possible forever. This isn't even necessarily Tesla's fault, in fact, many high-quality growth companies have experienced the same. But investors should still consider this important fact -- Tesla's growth in coming years will be less exciting compared to what we have seen in the past, and peers, such as NIO, are growing faster.</p><p><blockquote>特斯拉的收入预计将从2021年的490亿美元增长到2023年的830亿美元，年增长率为30%。与此同时，蔚来的收入预计将在2021年至2023年间从54亿美元猛增至128亿美元，年增长率为54%。因此，相对而言，预计未来两年蔚来的增长速度将远远快于特斯拉。老实说，这并不奇怪，因为大数定律表明，对于一家规模越大的公司来说，保持大幅增长率就变得越来越困难，而特斯拉现在似乎已经达到了这一点——每年增加50%以上的收入将永远不可能。这甚至不一定是特斯拉的错，事实上，许多优质成长型公司都经历过同样的事情。但投资者仍应考虑这一重要事实——与我们过去看到的相比，特斯拉未来几年的增长将不那么令人兴奋，而蔚来等同行的增长速度更快。</blockquote></p><p> The same holds true when we take a longer-term view. Revenue estimates for 2025 rest at$22.6 billionfor NIO, up another 80% from the 2023 estimate, and up 320% from what analysts are forecasting for 2021. Tesla, meanwhile, is forecasted to generate revenues of $122.5 billion in 2025 -- a large number, but up by a comparatively weak 48% from 2023, and up by a total of 150% versus 2021. Between 2021 and 2025, NIO will thus 4x its revenue, while Tesla will 2.5x its revenue in the same time span -- a meaningful difference that should, all else equal, allow for a premium valuation for NIO, in the same way Tesla deserves a premium valuation versus legacy players such as Volkswagen (OTCPK:VWAGY).</p><p><blockquote>当我们从长远来看时，情况也是如此。蔚来2025年的收入预期为226亿美元，比2023年的预期再增长80%，比分析师对2021年的预测增长320%。与此同时，特斯拉预计2025年的收入将达到1,225亿美元，这是一个很大的数字，但比2023年增长了48%，比2021年总共增长了150%。因此，在2021年至2025年间，蔚来的收入将增加4倍，而特斯拉的收入将在同一时期增加2.5倍——在其他条件相同的情况下，这是一个有意义的差异，应该允许蔚来获得溢价估值，就像特斯拉一样。与大众汽车（OTCPK：VWAGY）等传统企业相比，它值得获得溢价估值。</blockquote></p><p> Looking at revenue estimates for 2025 relative to how the two companies are valued today, we see that NIO trades at 3.2x 2025 sales, while the 2025 sales multiple for Tesla is 5.2. For a long-term oriented investor, NIO thus seems like the better value today, thanks to the fact that it is trading at a significantly lower sales multiple when we take a look into the future. This does not necessarily mean that NIO is cheap, however, as even a 3.2x 2025 sales multiple is relatively high compared to how legacy auto companies are valued. NIO is looking less expensive than Tesla, however, even if its shares are not cheap on an absolute basis.</p><p><blockquote>相对于两家公司目前的估值来看2025年的收入预期，我们发现蔚来的市盈率为2025年销售额的3.2倍，而特斯拉2025年的销售额倍数为5.2倍。因此，对于长期投资者来说，蔚来今天似乎更有价值，因为当我们展望未来时，它的销售倍数要低得多。然而，这并不一定意味着蔚来很便宜，因为与传统汽车公司的估值相比，即使2025年3.2倍的销售倍数也相对较高。然而，蔚来看起来比特斯拉便宜，尽管其股价绝对并不便宜。</blockquote></p><p> <b>Can NIO Be Worth As Much As Tesla?</b></p><p><blockquote><b>蔚来能和特斯拉一样值钱吗？</b></blockquote></p><p> The answer to that depends on what time frame you are looking at. Today, NIO is significantly smaller than Tesla and thus rightfully trades at a way smaller market cap. It should also be noted that there is no guarantee that Tesla's shares are a great example of how an EV company should be valued -- it is, at least, possible that its shares are significantly&nbsp;overpriced&nbsp;today, I personally believe that as well (Note that some will argue that shares are&nbsp;underpriced, which is also among the possibilities, although I do not hold that belief personally).</p><p><blockquote>这个问题的答案取决于你所关注的时间框架。如今，蔚来的规模明显小于特斯拉，因此其市值也相应地小得多。还应该指出的是，不能保证特斯拉的股票是电动汽车公司应该如何估值的一个很好的例子——至少，它的股票今天有可能被严重高估，我个人也相信这一点（请注意，有些人会认为股票定价过低，这也是一种可能性，尽管我个人并不持有这种信念）。</blockquote></p><p></p><p> When we do, for a moment, assume that Tesla is correctly valued today and that EV companies do deserve a market cap in the $600 billion range when they sell about 800,000 vehicles a year, then NIO could eventually hit that as well, although not in the near term. NIO will sell about 90,000 vehicles this year, and that amount should grow to about 400,000 in 2025. If NIO were to grow its sales by 15% a year beyond that point, it could sell around 800,000 cars in 2030, or 9 years from now. If one wants to assume faster growth, the 800,000 vehicles a year line could also be crossed before 2030, e.g. in 2028 or 2029. If we do go with 2030 for now, then NIO could, at a similar deliveries-to-market capitalization ratio to Tesla, be valued at $600+ billion in 2030. In other words, NIO could be worth as much as Tesla (today) in nine years, when we assume that current growth projections are realistic and that a Tesla-like valuation is appropriate. Those are two major ifs, of course, and especially the second point is far from certain, I believe. I personally would not be too surprised to see Tesla's valuation compress, and thus NIO could trade well below the $600 billion market cap level in 2030, even if it continues to grow meaningfully. It is also possible that NIO's growth disappoints and that current projections are too bullish, although I think that NIO is well-positioned for growth thanks to its unique BaaS model and its strong brand that is especially well-recognized in its home market.</p><p><blockquote>当我们暂时假设特斯拉今天的估值是正确的，并且电动汽车公司每年销售约80万辆汽车时确实应该获得6000亿美元的市值时，那么蔚来最终也可能达到这一目标，尽管不是在短期内。蔚来今年将销售约9万辆汽车，2025年这一数字将增长至约40万辆。如果蔚来的销量在此之后每年增长15%，那么到2030年（即9年后），它可能会售出约80万辆汽车。如果想要更快的增长，也可以在2030年之前跨越每年80万辆汽车的界限，例如2028年或2029年。如果我们现在确实选择2030年，那么按照与特斯拉类似的交付量与市值比率，蔚来到2030年的估值可能会超过6000亿美元。换句话说，如果我们假设当前的增长预测是现实的，并且类似特斯拉的估值是合适的，那么九年后蔚来的价值可能会与特斯拉（今天）一样高。当然，这是两个主要的如果，尤其是第二点，我认为还远未确定。我个人不会对特斯拉的估值压缩感到太惊讶，因此蔚来的市值在2030年可能远低于6000亿美元的水平，即使它继续大幅增长。蔚来的增长也有可能令人失望，目前的预测过于乐观，尽管我认为蔚来凭借其独特的BaaS模式和在国内市场特别受认可的强大品牌，处于良好的增长地位。</blockquote></p><p> It should also be noted that Tesla's market cap in 2030 could be very different from $600 billion, thus even in case NIO hits that level, it is not at all guaranteed that the two companies will have a similar market cap. Tesla might be valued at a way higher valuation by then, e.g. if the ARK model is right (something I personally think is unlikely). To answer the above question, one could thus say that NIO might be worth hundreds of billions of dollars, like Tesla, in 8-10 years, but that is not at all guaranteed. And even if that were to happen, Tesla might be worth significantly more by then.</p><p><blockquote>还应该指出的是，特斯拉2030年的市值可能与6000亿美元有很大不同，因此即使蔚来达到这一水平，也不能保证两家公司的市值会相似。到那时，特斯拉的估值可能会高得多，例如如果方舟模型是正确的（我个人认为不太可能）。为了回答上述问题，人们可以说，蔚来可能在8-10年内像特斯拉一样价值数千亿美元，但这根本不能保证。即使这种情况发生，到那时特斯拉的价值也可能会高得多。</blockquote></p><p> <b>Is NIO A Good Stock To Buy Or Sell Now?</b></p><p><blockquote><b>蔚来现在是买入或卖出的好股票吗？</b></blockquote></p><p> When considering NIO as an investment, it doesn't really matter all that much whether it will become as large or highly valued as Tesla eventually. Instead, investors should ask themselves what total returns they can expect over the next couple of years, and whether those expected returns are high enough relative to the risks in NIO's business model. Regarding those risks, one should mention the fact that the company isn't profitable yet, which means that NIO is dependent on cash on its balance sheet for growth investments. On top of that, competition in the EV space is growing, and market share battles could pressure margins in coming years, although NIO seems relatively well-positioned thanks to its battery-swapping, which is, I believe, a strong USP. Last but not least, the company's dependence on its home market China is a potential risk that should be kept in mind, although it should also be noted that, for now, it seems like the Chinese government is very accommodating to Chinese EV companies.</p><p><blockquote>当将蔚来视为一项投资时，它最终是否会变得像特斯拉一样庞大或估值很高并不重要。相反，投资者应该问自己，未来几年他们可以预期的总回报是多少，以及相对于蔚来商业模式的风险，这些预期回报是否足够高。关于这些风险，应该提到的事实是，该公司尚未盈利，这意味着蔚来依赖其资产负债表上的现金进行增长投资。最重要的是，电动汽车领域的竞争正在加剧，市场份额之争可能会在未来几年给利润率带来压力，尽管蔚来似乎由于其电池交换而处于相对有利的地位，我认为这是一个强大的USP。最后但并非最不重要的是，该公司对中国本土市场的依赖是一个应该牢记的潜在风险，尽管还应该指出的是，目前中国政府似乎对中国电动汽车公司非常包容。</blockquote></p><p> One could argue that valuations across the whole EV industry are too high, relative to how legacy auto companies are valued. Even those legacy players with attractive EV offerings such as Volkswagen or Ford trade at huge discounts compared to EV pureplays. But if one wants to invest in an EV pureplay, NIO doesn't seem like a bad choice. The company combines a strong brand, a unique BaaS offering, high growth rates, and shares trade at a discount compared to how the EV king Tesla is valued. At a little above 3x 2025 revenue, NIO does not seem overly expensive relative to other EV pureplays, although this still represents a premium versus legacy players, of course. If NIO manages to execute well and continues to roll out new models that are well-received by consumers, its shares could have significant upside potential in the long run. If EV stocks ever become an out-of-favor investment, NIO stock also could have considerable downside, however, this thus is not a low-risk pick. Depending on your risk tolerance, NIO could still be of value if you want a high-growth EV pureplay.</p><p><blockquote>有人可能会说，相对于传统汽车公司的估值，整个电动汽车行业的估值过高。与纯电动汽车相比，即使是大众汽车或福特等拥有有吸引力的电动汽车产品的传统企业，其交易也有巨大的折扣。但如果你想投资纯电动汽车，蔚来似乎是一个不错的选择。该公司结合了强大的品牌、独特的BaaS产品、高增长率，并且与电动汽车之王特斯拉的估值相比，股票交易价格有折扣。与其他纯电动汽车公司相比，蔚来2025年收入略高于3倍，似乎并不算太贵，当然，与传统公司相比，这仍然代表着溢价。如果蔚来能够表现良好并继续推出深受消费者欢迎的新车型，从长远来看，其股价可能具有巨大的上涨潜力。如果电动汽车股票成为不受欢迎的投资，蔚来股票也可能有相当大的下跌空间，然而，这并不是一个低风险的选择。根据您的风险承受能力，如果您想要高增长的纯电动汽车，蔚来仍然可能具有价值。</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>Will NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWill NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-24 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Let's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.</li>  <li>NIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.</li>  <li>NIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f749c70c8a2af3e18d5f6cecc72bfbb\" tg-width=\"1536\" tg-height=\"704\" referrerpolicy=\"no-referrer\"><span>ipopba/iStock via Getty Images</span></p><p><blockquote><ul><li>让我们来看看今天的蔚来与特斯拉相比如何，蔚来的独特卖点，以及两家公司的相似之处。</li><li>蔚来是一个高增长的选择，相对于特斯拉的估值，它似乎并不太昂贵。</li><li>然而，蔚来并不是一只低风险股票，它可能并不是每个人的好选择。投资者还应该考虑蔚来与传统汽车公司的估值。</li></ul><p class=\"t-img-caption\"><span>ipopba/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> NIO, Inc. (NIO) is one of China's leading EV players, and has, through an attractive brand and its unique BaaS offering, attracted a lot of interest from consumers and investors. Today, however, the company is still way smaller than Tesla (TSLA), which is currently leading the global EV market. NIO is focused on its home market right now, which was true when Tesla was a smaller company as well, but NIO will try to grab market share in overseas markets as well. Shares are pricing in a lot of growth already, but if NIO can replicate Tesla's success, that could be more than justified.</p><p><blockquote>蔚来公司（蔚来）是中国领先的电动汽车制造商之一，通过其有吸引力的品牌和独特的BaaS产品吸引了消费者和投资者的极大兴趣。然而，如今，该公司仍然比目前引领全球电动汽车市场的特斯拉（TSLA）小得多。蔚来目前专注于国内市场，当特斯拉还是一家较小的公司时也是如此，但蔚来也将试图在海外市场抢占市场份额。股价已经反映了很大的增长，但如果蔚来能够复制特斯拉的成功，这可能是非常合理的。</blockquote></p><p> <b>NIO And TSLA Stock Prices</b></p><p><blockquote><b>蔚来和特斯拉股价</b></blockquote></p><p> Both companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV pureplays rise rapidly. The combination of growing market share for EVs, accommodating policies such as subsidies for EV purchases, and massive monetary stimulus let shares of NIO and TSLA rise rapidly. NIO is up 245% over the last year, while TSLA is up 101% over the same time. Both companies are currently trading below their all-time highs, however, which were hit in early 2021 before market sentiment for EV pureplays cooled to some degree.</p><p><blockquote>2020年，两家公司都受益于人们对电动汽车日益增长的兴趣，这一趋势导致大多数纯电动汽车公司的股价迅速上涨。电动汽车市场份额不断增长、电动汽车购买补贴等宽松政策以及大规模货币刺激措施相结合，让蔚来和特斯拉的股价迅速上涨。蔚来去年上涨了245%，而特斯拉同期上涨了101%。然而，两家公司目前的交易价格均低于2021年初创下的历史高点，随后纯电动汽车的市场情绪在一定程度上降温。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5ff5ce865807df85283775d2293b41af\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Taking a quick look at analyst price targets, we see that Tesla is trading almost perfectly in line with the consensus, whereas NIO trades about 30% below the analyst target. If the analyst community is right, then NIO is a substantially better investment right here, as Tesla is not expected to see its shares rise meaningfully over the next year, whereas NIO has significant upside to the analyst price target.</p><p><blockquote>快速浏览一下分析师的目标价，我们发现特斯拉的交易价格几乎完全符合共识，而蔚来的交易价格比分析师目标低约30%。如果分析师界是正确的，那么蔚来是一项更好的投资，因为预计特斯拉的股价明年不会大幅上涨，而蔚来的股价较分析师目标价有显着上涨空间。</blockquote></p><p> <b>Is NIO Similar To Tesla?</b></p><p><blockquote><b>蔚来和特斯拉相似吗？</b></blockquote></p><p> The answer to that question depends on what you focus on. There are similarities between the two companies, but there are also differences. One could thus say that, in some ways, the two are similar, but in others, they are not. Let's look at a couple of things:</p><p><blockquote>这个问题的答案取决于你关注的是什么。两家公司有相似之处，但也有不同之处。因此，人们可以说，在某些方面，两者是相似的，但在另一些方面，它们不是。让我们看几件事：</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Both companies are focused on the EV space, although Tesla has, over the years, been building out a couple of other businesses as well, such as energy storage. Most of Tesla's revenues are generated through selling electric vehicles, which is also how NIO operates. Both companies are focused on the premium segment of EVs, selling higher-priced vehicles that compete with brands such as BMW, Mercedes, and Lexus. Both companies offer a small range of different vehicles, in Tesla's case those are the well-known S, X, 3, and Y, whereas NIO offers a sedan (ET7), and three SUVs (EC6, ES6, ES8). Despite the fact that NIO is a way smaller company today, the model lineups of the two companies do thus not differ too much.</p><p><blockquote>两家公司都专注于电动汽车领域，尽管特斯拉多年来也在发展其他一些业务，例如储能。特斯拉的大部分收入来自销售电动汽车，这也是蔚来的运营方式。两家公司都专注于电动汽车的高端市场，销售价格较高的汽车，与宝马、梅赛德斯和雷克萨斯等品牌竞争。两家公司都提供少量不同的车辆，特斯拉是著名的S、X、3和Y，而蔚来则提供一款轿车(ET7)和三款SUV(EC6、ES6、ES8)。尽管蔚来如今是一家规模较小的公司，但两家公司的车型阵容并没有太大差异。</blockquote></p><p> Both companies offer some type of charging infrastructure to their customers, in Tesla's case, that's the Supercharger network, where Tesla owners can charge their cars with up to 250kW, depending on what version of Supercharger is installed. NIO is following a different approach, offering a battery-as-a-service solution to its customers. NIO owners can get their battery switched out to a fully-charged battery at NIO's stations, a process that takes a couple of minutes and is thus significantly quicker compared to the regular EV charging offered by Tesla and other EV players. BaaS thus has advantages when it comes to the time it takes for a charge/swap, but it should be noted that Tesla's Superchargers are way more common around the world compared to NIO's battery-swapping stations. Rolling out that feature in additional markets will require large capital expenditures, but NIO's offering is a unique selling point compared to what all other EV players, including Tesla, are offering. It remains to be seen whether that will ultimately pay off, but this could become a major advantage for NIO as competition in the EV space is heating up.</p><p><blockquote>两家公司都向客户提供某种类型的充电基础设施，就特斯拉而言，这就是Supercharger网络，特斯拉车主可以根据安装的Supercharger版本为汽车充电高达250kW。蔚来正在采取不同的方法，为客户提供电池即服务解决方案。蔚来车主可以在蔚来的充电站将电池更换为充满电的电池，这一过程需要几分钟，因此与特斯拉和其他电动汽车厂商提供的常规电动汽车充电相比要快得多。因此，BaaS在充电/交换所需时间方面具有优势，但应该指出的是，与蔚来的电池交换站相比，特斯拉的超级充电站在世界各地更为常见。在其他市场推出该功能将需要大量资本支出，但与包括特斯拉在内的所有其他电动汽车厂商相比，蔚来的产品是一个独特的卖点。这最终是否会得到回报还有待观察，但随着电动汽车领域的竞争加剧，这可能成为蔚来的一大优势。</blockquote></p><p> <b>Size, growth, and valuation</b></p><p><blockquote><b>规模、增长和估值</b></blockquote></p><p></p><p> The two companies differ significantly in size, both when it comes to revenues and vehicle sales, as well as when it comes to the market value of the two companies. NIO has delivered22,000 vehicles in Q2, up 112% year over year, for an annual pace of around 90,000 vehicles. Tesla, meanwhile, has delivered 201,000 vehicles during Q2, up from 103,000 vehicles delivered during Q2 2020. This is strong growth on a year-over-year basis, although slightly below 100%, and thus below the growth rate that NIO is generating for now.</p><p><blockquote>这两家公司的规模差异很大，无论是在收入和汽车销量方面，还是在两家公司的市值方面。蔚来第二季度交付了22,000辆汽车，同比增长112%，年增长率约为90,000辆。与此同时，特斯拉在第二季度交付了201,000辆汽车，高于2020年第二季度的103,000辆汽车。这是一个强劲的同比增长，尽管略低于100%，因此低于蔚来目前的增长率。</blockquote></p><p> Tesla delivers around 9x as many vehicles compared to NIO per quarter, when we look at the market capitalizations of the two companies, we see that the ratio is almost exactly the same, as Tesla's market cap of $640 billion is ~9x as high as that of NIO, at $72 billion. At similar growth rates, that would make perfect sense, but it looks like NIO might be the better deal for now, as it trades at a comparable valuation while generating better growth. This will be especially true in the coming quarters, where Tesla's growth is expected to slow down:</p><p><blockquote>与蔚来相比，特斯拉每季度交付的汽车数量约为9倍，当我们查看两家公司的市值时，我们发现这一比例几乎完全相同，因为特斯拉6400亿美元的市值约为9倍。蔚来的市值为720亿美元。在类似的增长率下，这是完全有道理的，但目前看来蔚来可能是更好的交易，因为它的估值相当，同时产生更好的增长。在未来几个季度尤其如此，预计特斯拉的增长将放缓：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a986ea65130206f99961a46ce6cfed55\" tg-width=\"635\" tg-height=\"515\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Tesla is forecasted to grow its revenue from $49 billion in 2021 to $83 billion in 2023, for an annual growth rate of 30%. NIO, meanwhile, is expected to see its revenue explode upwards from $5.4 billion to $12.8 billion between 2021 and 2023, for an annual growth rate of 54%. NIO is thus expected to grow way faster than Tesla over the next two years, on a relative basis. This shouldn't be a surprise, to be honest, as the law of large numbers dictates that maintaining massive growth rates becomes increasingly hard for a company the bigger it gets, and Tesla seems to have hit that point by now -- adding 50%+ a year to its top line will not be possible forever. This isn't even necessarily Tesla's fault, in fact, many high-quality growth companies have experienced the same. But investors should still consider this important fact -- Tesla's growth in coming years will be less exciting compared to what we have seen in the past, and peers, such as NIO, are growing faster.</p><p><blockquote>特斯拉的收入预计将从2021年的490亿美元增长到2023年的830亿美元，年增长率为30%。与此同时，蔚来的收入预计将在2021年至2023年间从54亿美元猛增至128亿美元，年增长率为54%。因此，相对而言，预计未来两年蔚来的增长速度将远远快于特斯拉。老实说，这并不奇怪，因为大数定律表明，对于一家规模越大的公司来说，保持大幅增长率就变得越来越困难，而特斯拉现在似乎已经达到了这一点——每年增加50%以上的收入将永远不可能。这甚至不一定是特斯拉的错，事实上，许多优质成长型公司都经历过同样的事情。但投资者仍应考虑这一重要事实——与我们过去看到的相比，特斯拉未来几年的增长将不那么令人兴奋，而蔚来等同行的增长速度更快。</blockquote></p><p> The same holds true when we take a longer-term view. Revenue estimates for 2025 rest at$22.6 billionfor NIO, up another 80% from the 2023 estimate, and up 320% from what analysts are forecasting for 2021. Tesla, meanwhile, is forecasted to generate revenues of $122.5 billion in 2025 -- a large number, but up by a comparatively weak 48% from 2023, and up by a total of 150% versus 2021. Between 2021 and 2025, NIO will thus 4x its revenue, while Tesla will 2.5x its revenue in the same time span -- a meaningful difference that should, all else equal, allow for a premium valuation for NIO, in the same way Tesla deserves a premium valuation versus legacy players such as Volkswagen (OTCPK:VWAGY).</p><p><blockquote>当我们从长远来看时，情况也是如此。蔚来2025年的收入预期为226亿美元，比2023年的预期再增长80%，比分析师对2021年的预测增长320%。与此同时，特斯拉预计2025年的收入将达到1,225亿美元，这是一个很大的数字，但比2023年增长了48%，比2021年总共增长了150%。因此，在2021年至2025年间，蔚来的收入将增加4倍，而特斯拉的收入将在同一时期增加2.5倍——在其他条件相同的情况下，这是一个有意义的差异，应该允许蔚来获得溢价估值，就像特斯拉一样。与大众汽车（OTCPK：VWAGY）等传统企业相比，它值得获得溢价估值。</blockquote></p><p> Looking at revenue estimates for 2025 relative to how the two companies are valued today, we see that NIO trades at 3.2x 2025 sales, while the 2025 sales multiple for Tesla is 5.2. For a long-term oriented investor, NIO thus seems like the better value today, thanks to the fact that it is trading at a significantly lower sales multiple when we take a look into the future. This does not necessarily mean that NIO is cheap, however, as even a 3.2x 2025 sales multiple is relatively high compared to how legacy auto companies are valued. NIO is looking less expensive than Tesla, however, even if its shares are not cheap on an absolute basis.</p><p><blockquote>相对于两家公司目前的估值来看2025年的收入预期，我们发现蔚来的市盈率为2025年销售额的3.2倍，而特斯拉2025年的销售额倍数为5.2倍。因此，对于长期投资者来说，蔚来今天似乎更有价值，因为当我们展望未来时，它的销售倍数要低得多。然而，这并不一定意味着蔚来很便宜，因为与传统汽车公司的估值相比，即使2025年3.2倍的销售倍数也相对较高。然而，蔚来看起来比特斯拉便宜，尽管其股价绝对并不便宜。</blockquote></p><p> <b>Can NIO Be Worth As Much As Tesla?</b></p><p><blockquote><b>蔚来能和特斯拉一样值钱吗？</b></blockquote></p><p> The answer to that depends on what time frame you are looking at. Today, NIO is significantly smaller than Tesla and thus rightfully trades at a way smaller market cap. It should also be noted that there is no guarantee that Tesla's shares are a great example of how an EV company should be valued -- it is, at least, possible that its shares are significantly&nbsp;overpriced&nbsp;today, I personally believe that as well (Note that some will argue that shares are&nbsp;underpriced, which is also among the possibilities, although I do not hold that belief personally).</p><p><blockquote>这个问题的答案取决于你所关注的时间框架。如今，蔚来的规模明显小于特斯拉，因此其市值也相应地小得多。还应该指出的是，不能保证特斯拉的股票是电动汽车公司应该如何估值的一个很好的例子——至少，它的股票今天有可能被严重高估，我个人也相信这一点（请注意，有些人会认为股票定价过低，这也是一种可能性，尽管我个人并不持有这种信念）。</blockquote></p><p></p><p> When we do, for a moment, assume that Tesla is correctly valued today and that EV companies do deserve a market cap in the $600 billion range when they sell about 800,000 vehicles a year, then NIO could eventually hit that as well, although not in the near term. NIO will sell about 90,000 vehicles this year, and that amount should grow to about 400,000 in 2025. If NIO were to grow its sales by 15% a year beyond that point, it could sell around 800,000 cars in 2030, or 9 years from now. If one wants to assume faster growth, the 800,000 vehicles a year line could also be crossed before 2030, e.g. in 2028 or 2029. If we do go with 2030 for now, then NIO could, at a similar deliveries-to-market capitalization ratio to Tesla, be valued at $600+ billion in 2030. In other words, NIO could be worth as much as Tesla (today) in nine years, when we assume that current growth projections are realistic and that a Tesla-like valuation is appropriate. Those are two major ifs, of course, and especially the second point is far from certain, I believe. I personally would not be too surprised to see Tesla's valuation compress, and thus NIO could trade well below the $600 billion market cap level in 2030, even if it continues to grow meaningfully. It is also possible that NIO's growth disappoints and that current projections are too bullish, although I think that NIO is well-positioned for growth thanks to its unique BaaS model and its strong brand that is especially well-recognized in its home market.</p><p><blockquote>当我们暂时假设特斯拉今天的估值是正确的，并且电动汽车公司每年销售约80万辆汽车时确实应该获得6000亿美元的市值时，那么蔚来最终也可能达到这一目标，尽管不是在短期内。蔚来今年将销售约9万辆汽车，2025年这一数字将增长至约40万辆。如果蔚来的销量在此之后每年增长15%，那么到2030年（即9年后），它可能会售出约80万辆汽车。如果想要更快的增长，也可以在2030年之前跨越每年80万辆汽车的界限，例如2028年或2029年。如果我们现在确实选择2030年，那么按照与特斯拉类似的交付量与市值比率，蔚来到2030年的估值可能会超过6000亿美元。换句话说，如果我们假设当前的增长预测是现实的，并且类似特斯拉的估值是合适的，那么九年后蔚来的价值可能会与特斯拉（今天）一样高。当然，这是两个主要的如果，尤其是第二点，我认为还远未确定。我个人不会对特斯拉的估值压缩感到太惊讶，因此蔚来的市值在2030年可能远低于6000亿美元的水平，即使它继续大幅增长。蔚来的增长也有可能令人失望，目前的预测过于乐观，尽管我认为蔚来凭借其独特的BaaS模式和在国内市场特别受认可的强大品牌，处于良好的增长地位。</blockquote></p><p> It should also be noted that Tesla's market cap in 2030 could be very different from $600 billion, thus even in case NIO hits that level, it is not at all guaranteed that the two companies will have a similar market cap. Tesla might be valued at a way higher valuation by then, e.g. if the ARK model is right (something I personally think is unlikely). To answer the above question, one could thus say that NIO might be worth hundreds of billions of dollars, like Tesla, in 8-10 years, but that is not at all guaranteed. And even if that were to happen, Tesla might be worth significantly more by then.</p><p><blockquote>还应该指出的是，特斯拉2030年的市值可能与6000亿美元有很大不同，因此即使蔚来达到这一水平，也不能保证两家公司的市值会相似。到那时，特斯拉的估值可能会高得多，例如如果方舟模型是正确的（我个人认为不太可能）。为了回答上述问题，人们可以说，蔚来可能在8-10年内像特斯拉一样价值数千亿美元，但这根本不能保证。即使这种情况发生，到那时特斯拉的价值也可能会高得多。</blockquote></p><p> <b>Is NIO A Good Stock To Buy Or Sell Now?</b></p><p><blockquote><b>蔚来现在是买入或卖出的好股票吗？</b></blockquote></p><p> When considering NIO as an investment, it doesn't really matter all that much whether it will become as large or highly valued as Tesla eventually. Instead, investors should ask themselves what total returns they can expect over the next couple of years, and whether those expected returns are high enough relative to the risks in NIO's business model. Regarding those risks, one should mention the fact that the company isn't profitable yet, which means that NIO is dependent on cash on its balance sheet for growth investments. On top of that, competition in the EV space is growing, and market share battles could pressure margins in coming years, although NIO seems relatively well-positioned thanks to its battery-swapping, which is, I believe, a strong USP. Last but not least, the company's dependence on its home market China is a potential risk that should be kept in mind, although it should also be noted that, for now, it seems like the Chinese government is very accommodating to Chinese EV companies.</p><p><blockquote>当将蔚来视为一项投资时，它最终是否会变得像特斯拉一样庞大或估值很高并不重要。相反，投资者应该问自己，未来几年他们可以预期的总回报是多少，以及相对于蔚来商业模式的风险，这些预期回报是否足够高。关于这些风险，应该提到的事实是，该公司尚未盈利，这意味着蔚来依赖其资产负债表上的现金进行增长投资。最重要的是，电动汽车领域的竞争正在加剧，市场份额之争可能会在未来几年给利润率带来压力，尽管蔚来似乎由于其电池交换而处于相对有利的地位，我认为这是一个强大的USP。最后但并非最不重要的是，该公司对中国本土市场的依赖是一个应该牢记的潜在风险，尽管还应该指出的是，目前中国政府似乎对中国电动汽车公司非常包容。</blockquote></p><p> One could argue that valuations across the whole EV industry are too high, relative to how legacy auto companies are valued. Even those legacy players with attractive EV offerings such as Volkswagen or Ford trade at huge discounts compared to EV pureplays. But if one wants to invest in an EV pureplay, NIO doesn't seem like a bad choice. The company combines a strong brand, a unique BaaS offering, high growth rates, and shares trade at a discount compared to how the EV king Tesla is valued. At a little above 3x 2025 revenue, NIO does not seem overly expensive relative to other EV pureplays, although this still represents a premium versus legacy players, of course. If NIO manages to execute well and continues to roll out new models that are well-received by consumers, its shares could have significant upside potential in the long run. If EV stocks ever become an out-of-favor investment, NIO stock also could have considerable downside, however, this thus is not a low-risk pick. Depending on your risk tolerance, NIO could still be of value if you want a high-growth EV pureplay.</p><p><blockquote>有人可能会说，相对于传统汽车公司的估值，整个电动汽车行业的估值过高。与纯电动汽车相比，即使是大众汽车或福特等拥有有吸引力的电动汽车产品的传统企业，其交易也有巨大的折扣。但如果你想投资纯电动汽车，蔚来似乎是一个不错的选择。该公司结合了强大的品牌、独特的BaaS产品、高增长率，并且与电动汽车之王特斯拉的估值相比，股票交易价格有折扣。与其他纯电动汽车公司相比，蔚来2025年收入略高于3倍，似乎并不算太贵，当然，与传统公司相比，这仍然代表着溢价。如果蔚来能够表现良好并继续推出深受消费者欢迎的新车型，从长远来看，其股价可能具有巨大的上涨潜力。如果电动汽车股票成为不受欢迎的投资，蔚来股票也可能有相当大的下跌空间，然而，这并不是一个低风险的选择。根据您的风险承受能力，如果您想要高增长的纯电动汽车，蔚来仍然可能具有价值。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4440950-will-nio-stock-follow-tesla-what-to-consider-ev-stocks\">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":{"NIO":"蔚来","TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4440950-will-nio-stock-follow-tesla-what-to-consider-ev-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112927800","content_text":"Summary\n\nLet's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.\nNIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.\nNIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.\n\nipopba/iStock via Getty Images\nArticle Thesis\nNIO, Inc. (NIO) is one of China's leading EV players, and has, through an attractive brand and its unique BaaS offering, attracted a lot of interest from consumers and investors. Today, however, the company is still way smaller than Tesla (TSLA), which is currently leading the global EV market. NIO is focused on its home market right now, which was true when Tesla was a smaller company as well, but NIO will try to grab market share in overseas markets as well. Shares are pricing in a lot of growth already, but if NIO can replicate Tesla's success, that could be more than justified.\nNIO And TSLA Stock Prices\nBoth companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV pureplays rise rapidly. The combination of growing market share for EVs, accommodating policies such as subsidies for EV purchases, and massive monetary stimulus let shares of NIO and TSLA rise rapidly. NIO is up 245% over the last year, while TSLA is up 101% over the same time. Both companies are currently trading below their all-time highs, however, which were hit in early 2021 before market sentiment for EV pureplays cooled to some degree.\nData by YCharts\nTaking a quick look at analyst price targets, we see that Tesla is trading almost perfectly in line with the consensus, whereas NIO trades about 30% below the analyst target. If the analyst community is right, then NIO is a substantially better investment right here, as Tesla is not expected to see its shares rise meaningfully over the next year, whereas NIO has significant upside to the analyst price target.\nIs NIO Similar To Tesla?\nThe answer to that question depends on what you focus on. There are similarities between the two companies, but there are also differences. One could thus say that, in some ways, the two are similar, but in others, they are not. Let's look at a couple of things:\nBusiness Model\nBoth companies are focused on the EV space, although Tesla has, over the years, been building out a couple of other businesses as well, such as energy storage. Most of Tesla's revenues are generated through selling electric vehicles, which is also how NIO operates. Both companies are focused on the premium segment of EVs, selling higher-priced vehicles that compete with brands such as BMW, Mercedes, and Lexus. Both companies offer a small range of different vehicles, in Tesla's case those are the well-known S, X, 3, and Y, whereas NIO offers a sedan (ET7), and three SUVs (EC6, ES6, ES8). Despite the fact that NIO is a way smaller company today, the model lineups of the two companies do thus not differ too much.\nBoth companies offer some type of charging infrastructure to their customers, in Tesla's case, that's the Supercharger network, where Tesla owners can charge their cars with up to 250kW, depending on what version of Supercharger is installed. NIO is following a different approach, offering a battery-as-a-service solution to its customers. NIO owners can get their battery switched out to a fully-charged battery at NIO's stations, a process that takes a couple of minutes and is thus significantly quicker compared to the regular EV charging offered by Tesla and other EV players. BaaS thus has advantages when it comes to the time it takes for a charge/swap, but it should be noted that Tesla's Superchargers are way more common around the world compared to NIO's battery-swapping stations. Rolling out that feature in additional markets will require large capital expenditures, but NIO's offering is a unique selling point compared to what all other EV players, including Tesla, are offering. It remains to be seen whether that will ultimately pay off, but this could become a major advantage for NIO as competition in the EV space is heating up.\nSize, growth, and valuation\nThe two companies differ significantly in size, both when it comes to revenues and vehicle sales, as well as when it comes to the market value of the two companies. NIO has delivered22,000 vehicles in Q2, up 112% year over year, for an annual pace of around 90,000 vehicles. Tesla, meanwhile, has delivered 201,000 vehicles during Q2, up from 103,000 vehicles delivered during Q2 2020. This is strong growth on a year-over-year basis, although slightly below 100%, and thus below the growth rate that NIO is generating for now.\nTesla delivers around 9x as many vehicles compared to NIO per quarter, when we look at the market capitalizations of the two companies, we see that the ratio is almost exactly the same, as Tesla's market cap of $640 billion is ~9x as high as that of NIO, at $72 billion. At similar growth rates, that would make perfect sense, but it looks like NIO might be the better deal for now, as it trades at a comparable valuation while generating better growth. This will be especially true in the coming quarters, where Tesla's growth is expected to slow down:\nData by YCharts\nTesla is forecasted to grow its revenue from $49 billion in 2021 to $83 billion in 2023, for an annual growth rate of 30%. NIO, meanwhile, is expected to see its revenue explode upwards from $5.4 billion to $12.8 billion between 2021 and 2023, for an annual growth rate of 54%. NIO is thus expected to grow way faster than Tesla over the next two years, on a relative basis. This shouldn't be a surprise, to be honest, as the law of large numbers dictates that maintaining massive growth rates becomes increasingly hard for a company the bigger it gets, and Tesla seems to have hit that point by now -- adding 50%+ a year to its top line will not be possible forever. This isn't even necessarily Tesla's fault, in fact, many high-quality growth companies have experienced the same. But investors should still consider this important fact -- Tesla's growth in coming years will be less exciting compared to what we have seen in the past, and peers, such as NIO, are growing faster.\nThe same holds true when we take a longer-term view. Revenue estimates for 2025 rest at$22.6 billionfor NIO, up another 80% from the 2023 estimate, and up 320% from what analysts are forecasting for 2021. Tesla, meanwhile, is forecasted to generate revenues of $122.5 billion in 2025 -- a large number, but up by a comparatively weak 48% from 2023, and up by a total of 150% versus 2021. Between 2021 and 2025, NIO will thus 4x its revenue, while Tesla will 2.5x its revenue in the same time span -- a meaningful difference that should, all else equal, allow for a premium valuation for NIO, in the same way Tesla deserves a premium valuation versus legacy players such as Volkswagen (OTCPK:VWAGY).\nLooking at revenue estimates for 2025 relative to how the two companies are valued today, we see that NIO trades at 3.2x 2025 sales, while the 2025 sales multiple for Tesla is 5.2. For a long-term oriented investor, NIO thus seems like the better value today, thanks to the fact that it is trading at a significantly lower sales multiple when we take a look into the future. This does not necessarily mean that NIO is cheap, however, as even a 3.2x 2025 sales multiple is relatively high compared to how legacy auto companies are valued. NIO is looking less expensive than Tesla, however, even if its shares are not cheap on an absolute basis.\nCan NIO Be Worth As Much As Tesla?\nThe answer to that depends on what time frame you are looking at. Today, NIO is significantly smaller than Tesla and thus rightfully trades at a way smaller market cap. It should also be noted that there is no guarantee that Tesla's shares are a great example of how an EV company should be valued -- it is, at least, possible that its shares are significantly overpriced today, I personally believe that as well (Note that some will argue that shares are underpriced, which is also among the possibilities, although I do not hold that belief personally).\nWhen we do, for a moment, assume that Tesla is correctly valued today and that EV companies do deserve a market cap in the $600 billion range when they sell about 800,000 vehicles a year, then NIO could eventually hit that as well, although not in the near term. NIO will sell about 90,000 vehicles this year, and that amount should grow to about 400,000 in 2025. If NIO were to grow its sales by 15% a year beyond that point, it could sell around 800,000 cars in 2030, or 9 years from now. If one wants to assume faster growth, the 800,000 vehicles a year line could also be crossed before 2030, e.g. in 2028 or 2029. If we do go with 2030 for now, then NIO could, at a similar deliveries-to-market capitalization ratio to Tesla, be valued at $600+ billion in 2030. In other words, NIO could be worth as much as Tesla (today) in nine years, when we assume that current growth projections are realistic and that a Tesla-like valuation is appropriate. Those are two major ifs, of course, and especially the second point is far from certain, I believe. I personally would not be too surprised to see Tesla's valuation compress, and thus NIO could trade well below the $600 billion market cap level in 2030, even if it continues to grow meaningfully. It is also possible that NIO's growth disappoints and that current projections are too bullish, although I think that NIO is well-positioned for growth thanks to its unique BaaS model and its strong brand that is especially well-recognized in its home market.\nIt should also be noted that Tesla's market cap in 2030 could be very different from $600 billion, thus even in case NIO hits that level, it is not at all guaranteed that the two companies will have a similar market cap. Tesla might be valued at a way higher valuation by then, e.g. if the ARK model is right (something I personally think is unlikely). To answer the above question, one could thus say that NIO might be worth hundreds of billions of dollars, like Tesla, in 8-10 years, but that is not at all guaranteed. And even if that were to happen, Tesla might be worth significantly more by then.\nIs NIO A Good Stock To Buy Or Sell Now?\nWhen considering NIO as an investment, it doesn't really matter all that much whether it will become as large or highly valued as Tesla eventually. Instead, investors should ask themselves what total returns they can expect over the next couple of years, and whether those expected returns are high enough relative to the risks in NIO's business model. Regarding those risks, one should mention the fact that the company isn't profitable yet, which means that NIO is dependent on cash on its balance sheet for growth investments. On top of that, competition in the EV space is growing, and market share battles could pressure margins in coming years, although NIO seems relatively well-positioned thanks to its battery-swapping, which is, I believe, a strong USP. Last but not least, the company's dependence on its home market China is a potential risk that should be kept in mind, although it should also be noted that, for now, it seems like the Chinese government is very accommodating to Chinese EV companies.\nOne could argue that valuations across the whole EV industry are too high, relative to how legacy auto companies are valued. Even those legacy players with attractive EV offerings such as Volkswagen or Ford trade at huge discounts compared to EV pureplays. But if one wants to invest in an EV pureplay, NIO doesn't seem like a bad choice. The company combines a strong brand, a unique BaaS offering, high growth rates, and shares trade at a discount compared to how the EV king Tesla is valued. At a little above 3x 2025 revenue, NIO does not seem overly expensive relative to other EV pureplays, although this still represents a premium versus legacy players, of course. If NIO manages to execute well and continues to roll out new models that are well-received by consumers, its shares could have significant upside potential in the long run. If EV stocks ever become an out-of-favor investment, NIO stock also could have considerable downside, however, this thus is not a low-risk pick. Depending on your risk tolerance, NIO could still be of value if you want a high-growth EV pureplay.","news_type":1,"symbols_score_info":{"NIO":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174374227,"gmtCreate":1627083466169,"gmtModify":1633768233037,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/174374227","repostId":"2153980423","repostType":4,"isVote":1,"tweetType":1,"viewCount":563,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175038936,"gmtCreate":1626998043425,"gmtModify":1633769010743,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/175038936","repostId":"2153760350","repostType":4,"isVote":1,"tweetType":1,"viewCount":557,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178275537,"gmtCreate":1626825788729,"gmtModify":1633770711669,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/178275537","repostId":"2153469248","repostType":4,"isVote":1,"tweetType":1,"viewCount":572,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178071363,"gmtCreate":1626776755152,"gmtModify":1633771150734,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/178071363","repostId":"1167258014","repostType":4,"repost":{"id":"1167258014","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626773582,"share":"https://www.laohu8.com/m/news/1167258014?lang=zh_CN&edition=full","pubTime":"2021-07-20 17:33","market":"us","language":"en","title":"Is Now The Time To Buy Into Nvidia, AMC, Or GameStop?<blockquote>现在是收购英伟达、AMC或者游戏驿站的时候了吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1167258014","media":"Benzinga","summary":"These stocks are seeing high retail investor interest on social media at press time early Tuesday.\nN","content":"<p>These stocks are seeing high retail investor interest on social media at press time early Tuesday.</p><p><blockquote>截至周二早些时候发稿时，社交媒体上散户投资者对这些股票的兴趣很高。</blockquote></p><p> <b>NVIDIA Corporation</b>(NASDAQ:NVDA): The technology multinational known for graphics processing units trended as thetop name on r/WallStreetBetsor WSB at press time.</p><p><blockquote><b>英伟达公司</b>（纳斯达克：NVDA）：截至发稿时，这家以图形处理设备闻名的技术跨国公司成为r/WallStreetBetor或WSB上的热门品牌。</blockquote></p><p> The company’s shares will be split 4-for-1 on Tuesday morning. David Green, a veteran trader, said he wants to“be long NVIDIA”on Monday.</p><p><blockquote>该公司的股票将于周二上午以4比1的比例进行分割。资深交易员David Green表示，他希望在周一“做多英伟达”。</blockquote></p><p> “We will get a lot of action once we have earnings coming out,” said Green.</p><p><blockquote>“一旦财报公布，我们将采取很多行动，”格林说。</blockquote></p><p> The company’s next quarterly numbers release is scheduled for August 18. As per the first-quarter numbers released in May, NVIDIA recorded earnings per share of $3.66 which beat the estimated EPS of $3.28.</p><p><blockquote>该公司定于8月18日发布下一个季度数据。根据5月份发布的第一季度数据，英伟达每股收益为3.66美元，超过预期的每股收益3.28美元。</blockquote></p><p> NVIDIA shares have appreciated 43.9% since the year began. On Monday, the company’s shares closed 3.41% higher in the regular session at $751.19 and rose another 1.17% in the after-hours trading to $760.</p><p><blockquote>自今年年初以来，英伟达股价已上涨43.9%。周一，该公司股价在常规交易中收盘上涨3.41%，至751.19美元，在盘后交易中又上涨1.17%，至760美元。</blockquote></p><p> <b>AMC Entertainment Holdings Inc</b>(NYSE:AMC): The theater chain’s shares saw high interest from retail traders.On Monday, AMC announced that it hadreached an agreementwith real estate firm Caruso to reopen The Grove Theatre and The Americana at Brand Theatre— two of the top-grossing movie theaters in Los Angeles.</p><p><blockquote><b>AMC院线控股公司</b>（纽约证券交易所股票代码：AMC）：散户交易者对这家连锁影院的股票非常感兴趣。周一，AMC宣布已与房地产公司Caruso达成协议，重新开放洛杉矶票房最高的两家电影院Grove Theatre和Americana at Brand Theatre。</blockquote></p><p> This month, AMC decidednot to vote ona previously announced$25 million share offering, which would have allowed it to raise cash as it reels under the impact of COVID-19.</p><p><blockquote>本月，AMC决定不对此前宣布的2500万美元股票发行进行投票，这将使其能够在受到COVID-19影响的情况下筹集现金。</blockquote></p><p> AMC shares have spiked 1,533% since the year began. On Friday, AMC shares closed 0.97% lower at $34.62 in the regular session and rose nearly 0.9% in the after-hours trading.</p><p><blockquote>自今年年初以来，AMC股价已飙升1,533%。周五，AMC股价在常规交易中收跌0.97%至34.62美元，盘后交易中上涨近0.9%。</blockquote></p><p> <b>GameStop Corporation</b>(NYSE:GME): The video game retailer trended among retail investors on Monday as it outperformed the wider market. On Monday key U.S. indices such as the S&amp;P 500 and NASDAQ ended in the red by 1.59% and 1.06% respectively.</p><p><blockquote><b>游戏驿站公司</b>（纽约证券交易所股票代码：GME）：这家视频游戏零售商周一在散户投资者中表现强劲，表现优于大盘。周一，标普500和纳斯达克等美国主要指数分别收跌1.59%和1.06%。</blockquote></p><p> On the same day, GameStop shares traded 2.63% higher at $173.49 in the regular session. The shares declined nearly 0.3% in the after-hours trading.</p><p><blockquote>同日，游戏驿站股价常规交易时段上涨2.63%，至173.49美元。该股在盘后交易中下跌近0.3%。</blockquote></p><p> The primary reason for the market's fall was mounting worries aboutrising in COVID-19 cases— particularly due to the Delta variant and its impact on global economic recovery.</p><p><blockquote>市场下跌的主要原因是人们对COVID-19病例增加的担忧日益加剧，特别是由于德尔塔变异毒株及其对全球经济复苏的影响。</blockquote></p><p> At the same time, video games are increasingly popular with NewZooestimatespointing to a CAGR of 8.7% between 2019 to 2024. NewZoo estimates gaming will cross the $200 billion mark in 2023.</p><p><blockquote>与此同时，视频游戏越来越受欢迎，Newzooestimates预计2019年至2024年间的复合年增长率为8.7%。NewZoo估计游戏收入将在2023年突破2000亿美元大关。</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>Is Now The Time To Buy Into Nvidia, AMC, Or GameStop?<blockquote>现在是收购英伟达、AMC或者游戏驿站的时候了吗？</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\">\nIs Now The Time To Buy Into Nvidia, AMC, Or GameStop?<blockquote>现在是收购英伟达、AMC或者游戏驿站的时候了吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-07-20 17:33</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>These stocks are seeing high retail investor interest on social media at press time early Tuesday.</p><p><blockquote>截至周二早些时候发稿时，社交媒体上散户投资者对这些股票的兴趣很高。</blockquote></p><p> <b>NVIDIA Corporation</b>(NASDAQ:NVDA): The technology multinational known for graphics processing units trended as thetop name on r/WallStreetBetsor WSB at press time.</p><p><blockquote><b>英伟达公司</b>（纳斯达克：NVDA）：截至发稿时，这家以图形处理设备闻名的技术跨国公司成为r/WallStreetBetor或WSB上的热门品牌。</blockquote></p><p> The company’s shares will be split 4-for-1 on Tuesday morning. David Green, a veteran trader, said he wants to“be long NVIDIA”on Monday.</p><p><blockquote>该公司的股票将于周二上午以4比1的比例进行分割。资深交易员David Green表示，他希望在周一“做多英伟达”。</blockquote></p><p> “We will get a lot of action once we have earnings coming out,” said Green.</p><p><blockquote>“一旦财报公布，我们将采取很多行动，”格林说。</blockquote></p><p> The company’s next quarterly numbers release is scheduled for August 18. As per the first-quarter numbers released in May, NVIDIA recorded earnings per share of $3.66 which beat the estimated EPS of $3.28.</p><p><blockquote>该公司定于8月18日发布下一个季度数据。根据5月份发布的第一季度数据，英伟达每股收益为3.66美元，超过预期的每股收益3.28美元。</blockquote></p><p> NVIDIA shares have appreciated 43.9% since the year began. On Monday, the company’s shares closed 3.41% higher in the regular session at $751.19 and rose another 1.17% in the after-hours trading to $760.</p><p><blockquote>自今年年初以来，英伟达股价已上涨43.9%。周一，该公司股价在常规交易中收盘上涨3.41%，至751.19美元，在盘后交易中又上涨1.17%，至760美元。</blockquote></p><p> <b>AMC Entertainment Holdings Inc</b>(NYSE:AMC): The theater chain’s shares saw high interest from retail traders.On Monday, AMC announced that it hadreached an agreementwith real estate firm Caruso to reopen The Grove Theatre and The Americana at Brand Theatre— two of the top-grossing movie theaters in Los Angeles.</p><p><blockquote><b>AMC院线控股公司</b>（纽约证券交易所股票代码：AMC）：散户交易者对这家连锁影院的股票非常感兴趣。周一，AMC宣布已与房地产公司Caruso达成协议，重新开放洛杉矶票房最高的两家电影院Grove Theatre和Americana at Brand Theatre。</blockquote></p><p> This month, AMC decidednot to vote ona previously announced$25 million share offering, which would have allowed it to raise cash as it reels under the impact of COVID-19.</p><p><blockquote>本月，AMC决定不对此前宣布的2500万美元股票发行进行投票，这将使其能够在受到COVID-19影响的情况下筹集现金。</blockquote></p><p> AMC shares have spiked 1,533% since the year began. On Friday, AMC shares closed 0.97% lower at $34.62 in the regular session and rose nearly 0.9% in the after-hours trading.</p><p><blockquote>自今年年初以来，AMC股价已飙升1,533%。周五，AMC股价在常规交易中收跌0.97%至34.62美元，盘后交易中上涨近0.9%。</blockquote></p><p> <b>GameStop Corporation</b>(NYSE:GME): The video game retailer trended among retail investors on Monday as it outperformed the wider market. On Monday key U.S. indices such as the S&amp;P 500 and NASDAQ ended in the red by 1.59% and 1.06% respectively.</p><p><blockquote><b>游戏驿站公司</b>（纽约证券交易所股票代码：GME）：这家视频游戏零售商周一在散户投资者中表现强劲，表现优于大盘。周一，标普500和纳斯达克等美国主要指数分别收跌1.59%和1.06%。</blockquote></p><p> On the same day, GameStop shares traded 2.63% higher at $173.49 in the regular session. The shares declined nearly 0.3% in the after-hours trading.</p><p><blockquote>同日，游戏驿站股价常规交易时段上涨2.63%，至173.49美元。该股在盘后交易中下跌近0.3%。</blockquote></p><p> The primary reason for the market's fall was mounting worries aboutrising in COVID-19 cases— particularly due to the Delta variant and its impact on global economic recovery.</p><p><blockquote>市场下跌的主要原因是人们对COVID-19病例增加的担忧日益加剧，特别是由于德尔塔变异毒株及其对全球经济复苏的影响。</blockquote></p><p> At the same time, video games are increasingly popular with NewZooestimatespointing to a CAGR of 8.7% between 2019 to 2024. NewZoo estimates gaming will cross the $200 billion mark in 2023.</p><p><blockquote>与此同时，视频游戏越来越受欢迎，Newzooestimates预计2019年至2024年间的复合年增长率为8.7%。NewZoo估计游戏收入将在2023年突破2000亿美元大关。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","NVDA":"英伟达","AMC":"AMC院线","TIME":"Clockwise Core Equity & Innovation ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167258014","content_text":"These stocks are seeing high retail investor interest on social media at press time early Tuesday.\nNVIDIA Corporation(NASDAQ:NVDA): The technology multinational known for graphics processing units trended as thetop name on r/WallStreetBetsor WSB at press time.\nThe company’s shares will be split 4-for-1 on Tuesday morning. David Green, a veteran trader, said he wants to“be long NVIDIA”on Monday.\n“We will get a lot of action once we have earnings coming out,” said Green.\nThe company’s next quarterly numbers release is scheduled for August 18. As per the first-quarter numbers released in May, NVIDIA recorded earnings per share of $3.66 which beat the estimated EPS of $3.28.\nNVIDIA shares have appreciated 43.9% since the year began. On Monday, the company’s shares closed 3.41% higher in the regular session at $751.19 and rose another 1.17% in the after-hours trading to $760.\nAMC Entertainment Holdings Inc(NYSE:AMC): The theater chain’s shares saw high interest from retail traders.On Monday, AMC announced that it hadreached an agreementwith real estate firm Caruso to reopen The Grove Theatre and The Americana at Brand Theatre— two of the top-grossing movie theaters in Los Angeles.\nThis month, AMC decidednot to vote ona previously announced$25 million share offering, which would have allowed it to raise cash as it reels under the impact of COVID-19.\nAMC shares have spiked 1,533% since the year began. On Friday, AMC shares closed 0.97% lower at $34.62 in the regular session and rose nearly 0.9% in the after-hours trading.\nGameStop Corporation(NYSE:GME): The video game retailer trended among retail investors on Monday as it outperformed the wider market. On Monday key U.S. indices such as the S&P 500 and NASDAQ ended in the red by 1.59% and 1.06% respectively.\nOn the same day, GameStop shares traded 2.63% higher at $173.49 in the regular session. The shares declined nearly 0.3% in the after-hours trading.\nThe primary reason for the market's fall was mounting worries aboutrising in COVID-19 cases— particularly due to the Delta variant and its impact on global economic recovery.\nAt the same time, video games are increasingly popular with NewZooestimatespointing to a CAGR of 8.7% between 2019 to 2024. NewZoo estimates gaming will cross the $200 billion mark in 2023.","news_type":1,"symbols_score_info":{"GME":0.9,"TIME":0.9,"NVDA":0.9,"TWX":0.9,"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":464,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171334656,"gmtCreate":1626705825575,"gmtModify":1633924762794,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/171334656","repostId":"1154837794","repostType":4,"repost":{"id":"1154837794","kind":"news","pubTimestamp":1626705505,"share":"https://www.laohu8.com/m/news/1154837794?lang=zh_CN&edition=full","pubTime":"2021-07-19 22:38","market":"us","language":"en","title":"Bond Yields Are Puking Again...<blockquote>债券收益率又吐了……</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154837794","media":"zerohedge","summary":"US Treasury yields are plunging again this morning as investors take their pick of factors, but Delt","content":"<p>US Treasury yields are plunging again this morning as investors take their pick of factors, but Delta variant fearmongering appears to dominate (and a continued short squeeze)...</p><p><blockquote>随着投资者选择因素，美国国债收益率今天上午再次暴跌，但德尔塔变异毒株的恐慌情绪似乎占主导地位（以及持续的空头挤压）...</blockquote></p><p> 10Y Yields are down 12bps this morning, trading below 1.20% back at 5-month lows...</p><p><blockquote>10年期国债收益率今早下跌12个基点，跌破1.20%，回到5个月低点……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a4e92791f9670d35afd7667c701520d8\" tg-width=\"965\" tg-height=\"554\" width=\"100%\" height=\"auto\">Pretty clear that hopes for a return to an old normal growthy-ness failed...</p><p><blockquote>很明显，回归旧的正常增长的希望失败了...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eaa41324065aee5d3c6313f159661d3c\" tg-width=\"965\" tg-height=\"554\" width=\"100%\" height=\"auto\">For almost four months, bonds have been screaming a very different story from stocks...</p><p><blockquote>近四个月来，债券一直在尖叫着与股票截然不同的故事……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b2a9b7d477c41dd3fe42f6eaaad14ef1\" tg-width=\"965\" tg-height=\"557\" width=\"100%\" height=\"auto\">The last time this happened, did not end well for the somewhat oblivious stock market...</p><p><blockquote>上一次发生这种情况，对于有点健忘的股市来说并没有好结果...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/fa095fb179dc579e6ff28af71309451b\" tg-width=\"965\" tg-height=\"555\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Brace!!</p><p><blockquote>撑住！！</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>Bond Yields Are Puking Again...<blockquote>债券收益率又吐了……</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{ 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}\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\">\nBond Yields Are Puking Again...<blockquote>债券收益率又吐了……</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-19 22:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>US Treasury yields are plunging again this morning as investors take their pick of factors, but Delta variant fearmongering appears to dominate (and a continued short squeeze)...</p><p><blockquote>随着投资者选择因素，美国国债收益率今天上午再次暴跌，但德尔塔变异毒株的恐慌情绪似乎占主导地位（以及持续的空头挤压）...</blockquote></p><p> 10Y Yields are down 12bps this morning, trading below 1.20% back at 5-month lows...</p><p><blockquote>10年期国债收益率今早下跌12个基点，跌破1.20%，回到5个月低点……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a4e92791f9670d35afd7667c701520d8\" tg-width=\"965\" tg-height=\"554\" width=\"100%\" height=\"auto\">Pretty clear that hopes for a return to an old normal growthy-ness failed...</p><p><blockquote>很明显，回归旧的正常增长的希望失败了...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eaa41324065aee5d3c6313f159661d3c\" tg-width=\"965\" tg-height=\"554\" width=\"100%\" height=\"auto\">For almost four months, bonds have been screaming a very different story from stocks...</p><p><blockquote>近四个月来，债券一直在尖叫着与股票截然不同的故事……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b2a9b7d477c41dd3fe42f6eaaad14ef1\" tg-width=\"965\" tg-height=\"557\" width=\"100%\" height=\"auto\">The last time this happened, did not end well for the somewhat oblivious stock market...</p><p><blockquote>上一次发生这种情况，对于有点健忘的股市来说并没有好结果...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/fa095fb179dc579e6ff28af71309451b\" tg-width=\"965\" tg-height=\"555\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Brace!!</p><p><blockquote>撑住！！</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/bond-yields-are-puking-again?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">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":{},"source_url":"https://www.zerohedge.com/markets/bond-yields-are-puking-again?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154837794","content_text":"US Treasury yields are plunging again this morning as investors take their pick of factors, but Delta variant fearmongering appears to dominate (and a continued short squeeze)...\n10Y Yields are down 12bps this morning, trading below 1.20% back at 5-month lows...\nPretty clear that hopes for a return to an old normal growthy-ness failed...\nFor almost four months, bonds have been screaming a very different story from stocks...\nThe last time this happened, did not end well for the somewhat oblivious stock market...\n\nBrace!!","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145321761,"gmtCreate":1626190816253,"gmtModify":1633929184736,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/145321761","repostId":"1129044669","repostType":4,"isVote":1,"tweetType":1,"viewCount":708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148627224,"gmtCreate":1625973201268,"gmtModify":1633931213029,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574734648306583","authorIdStr":"3574734648306583"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148627224","repostId":"1196440758","repostType":4,"repost":{"id":"1196440758","kind":"news","pubTimestamp":1625967335,"share":"https://www.laohu8.com/m/news/1196440758?lang=zh_CN&edition=full","pubTime":"2021-07-11 09:35","market":"us","language":"en","title":"2 Growth Stocks for the Next 10 Years<blockquote>未来10年的2只成长型股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1196440758","media":"Motley Fool","summary":"Both of these companies grew revenue by triple-digit rates in their most recent quarters. More importantly, their futures look bright.","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Growth stocks may be riskier than stable and established companies, but carefully selected ones may be worth it.</li>  <li>Stay-at-home trends have helped these companies, but their growth rates were high before the pandemic, too.</li>  <li>Both of these fast-growing tech businesses are already profitable.</li> </ul> There's an interesting dilemma when it comes to picking stocks investors can likely hold for years or even decades. On the one hand, investors looking to hold shares for the long haul can stick with stable and established companies that have been around for decades and will likely continue succeeding for the foreseeable future -- companies like&nbsp;<b>Waste Management</b>&nbsp;and&nbsp;<b>Berkshire Hathaway</b>. The downside to this approach, however, is that investors may miss out on the potential outperformance that could come from fast-growing companies over the long haul.</p><p><blockquote><ul><li>成长型股票可能比稳定、成熟的公司风险更大，但精心挑选的股票可能是值得的。</li><li>居家趋势帮助了这些公司，但它们的增长率在大流行之前也很高。</li><li>这两项快速增长的科技业务都已经盈利。</li></ul>在选择投资者可能持有数年甚至数十年的股票时，存在一个有趣的困境。一方面，希望长期持有股票的投资者可以坚持持有稳定且成熟的公司，这些公司已经存在了数十年，并且在可预见的未来可能会继续取得成功——例如<b>废物管理</b>和<b>伯克希尔哈撒韦</b>然而，这种方法的缺点是，投资者可能会错过长期快速增长的公司可能带来的潜在优异表现。</blockquote></p><p> The issue with buying&nbsp;growth stocks, however, is that it's extremely difficult to gauge how long their rapid top-line growth rates can persist. Further, these companies' stock prices could perform very poorly if the growth prospects already baked into the stock price don't pan out. In other words, there's arguably more risk when it comes to betting on growth stocks for the next decade than there is for stable and established companies with decades of success behind them.</p><p><blockquote>然而，购买成长型股票的问题在于，很难衡量其快速的营收增长率能持续多久。此外，如果股价中已经体现的增长前景没有实现，这些公司的股价可能会表现非常糟糕。换句话说，押注未来十年的成长型股票可能比押注拥有数十年成功经验的稳定成熟公司的风险更大。</blockquote></p><p> So if an&nbsp;investor&nbsp;wants to buy growth stocks with a high chance of exceeding expectations over the next 10 years, they better have some pretty good reasons to believe these companies can do exactly that.</p><p><blockquote>因此，如果投资者想购买未来10年极有可能超出预期的成长型股票，他们最好有一些很好的理由相信这些公司能够做到这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/257045ef62f724806bce2b35390a5e4f\" tg-width=\"2000\" tg-height=\"1500\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Here are two growth stocks that have a shot at not only living up to high expectations over the next 10 years but possibly even exceeding them:<b>Zoom Video Communications</b>(NASDAQ:ZM)&nbsp;and&nbsp;<b>Peloton Interactive</b>(NASDAQ:PTON).</p><p><blockquote>以下是两只成长型股票，它们不仅有可能在未来10年达到高预期，甚至可能超过预期：<b>Zoom Video通信公司</b>（纳斯达克：ZM）及<b>Peloton互动</b>（纳斯达克：PTON）。</blockquote></p><p> <b>Zoom and Peloton were already thriving before the pandemic</b></p><p><blockquote><b>Zoom和Peloton在大流行之前就已经蓬勃发展</b></blockquote></p><p> At first glance, investors may conclude that Zoom is nothing more than a pandemic stock. They may argue that the company's success was predicated almost entirely on the fact that much of the world was in lockdown in 2020 and going into 2021.</p><p><blockquote>乍一看，投资者可能会得出结论，Zoom只不过是一只流行病股票。他们可能会说，该公司的成功几乎完全取决于这样一个事实，即世界大部分地区在2020年和2021年都处于封锁状态。</blockquote></p><p> It's true that Zoom benefited significantly from the rise of virtual work in 2020. After all, revenue for the company's fiscal 2021 (a fiscal year ending Jan. 31, 2021) skyrocketed 326% year over year. But investors should note that the trend of using video to collaborate virtually was already extremely strong before the pandemic; fiscal 2020 revenue rose 88% year over year. Growth at the time was particularly strong from large customers. Zoom's customers contributing more than $100,000 of trailing-12-month revenue increased 86% year over year in the fourth quarter of fiscal 2020.</p><p><blockquote>确实，Zoom从2020年虚拟工作的兴起中受益匪浅。毕竟，该公司2021财年（截至2021年1月31日的财年）的收入同比飙升326%。但投资者应该注意到，在大流行之前，使用视频进行虚拟协作的趋势就已经非常强劲；2020财年收入同比增长88%。当时来自大客户的增长尤其强劲。2020财年第四季度，Zoom的客户过去12个月收入贡献超过10万美元，同比增长86%。</blockquote></p><p> The same goes for Peloton. The company certainly benefited from the pandemic, but revenue during the quarter ending Dec. 31, 2019 was growing at a year-over-year rate of 77%, with connected fitness subscribers increasing 96% year over year.</p><p><blockquote>Peloton也是如此。该公司当然受益于疫情，但截至2019年12月31日的季度收入同比增长77%，联网健身订户同比增长96%。</blockquote></p><p> <b>Continued momentum</b></p><p><blockquote><b>持续的势头</b></blockquote></p><p> The underlying catalysts driving Zoom and Peloton are both still alive and well. Strong growth persists at both companies.</p><p><blockquote>推动Zoom和Peloton的潜在催化剂仍然存在。两家公司都持续强劲增长。</blockquote></p><p> Despite facing extremely tough comparisons in the year-ago quarter, from when both companies were benefiting from soaring demand amid lockdowns, Zoom's and Peloton's revenue in their most recently reported quarters grew 191% and 141% year over year, respectively.</p><p><blockquote>尽管与去年同期相比面临极其严峻的比较，但Zoom和Peloton在最近报告的季度中的收入分别同比增长了191%和141%，当时两家公司都受益于封锁期间需求飙升。</blockquote></p><p> Looking ahead, Zoom notably guided for fiscal 2022 revenue of nearly $4 billion, up from fiscal 2021 revenue of about $2.7 billion.</p><p><blockquote>展望未来，Zoom特别预计2022财年营收将接近40亿美元，高于2021财年约27亿美元的营收。</blockquote></p><p> Boding well for Peloton's continued momentum, management said in its most recent quarterly update that its monthly average workouts per connected fitness subscription rose to an all-time high, showing how the company's products are still yielding high engagement even as the economy reopens.</p><p><blockquote>管理层在最近的季度更新中表示，其每个互联健身订阅的月平均锻炼次数升至历史新高，这预示着Peloton的持续势头，这表明即使经济重新开放，该公司的产品仍然产生高参与度。</blockquote></p><p> <b>Healthy profits</b></p><p><blockquote><b>健康利润</b></blockquote></p><p> Finally, another factor that makes these companies unique from many other growth stocks is that they are already very profitable. Zoom generated $873 million of net income on $3.3 billion of trailing-12-month sales, and Peloton served up $213 million of net income from $3.7 billion in revenue.</p><p><blockquote>最后，使这些公司与许多其他成长型股票不同的另一个因素是，它们已经非常有利可图。Zoom过去12个月的销售额为33亿美元，净利润为8.73亿美元，Peloton的净利润为37亿美元，净利润为2.13亿美元。</blockquote></p><p> Substantial profits give these companies an edge when it comes to reinvesting in growth opportunities ahead of them and spending on efforts to enhance their competitive positioning and first-mover advantages in their respective industries.</p><p><blockquote>可观的利润使这些公司在对未来的增长机会进行再投资以及努力增强其在各自行业的竞争地位和先发优势方面具有优势。</blockquote></p><p> While there's no guarantee these two stocks will beat the market over the next 10 years, their recent momentum -- before, during, and after the worst part of the pandemic -- suggests they likely have a promising future.</p><p><blockquote>虽然不能保证这两只股票在未来10年内会跑赢市场，但它们最近的势头——在大流行最严重的时期之前、期间和之后——表明它们的未来可能充满希望。</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>2 Growth Stocks for the Next 10 Years<blockquote>未来10年的2只成长型股票</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\">\n2 Growth Stocks for the Next 10 Years<blockquote>未来10年的2只成长型股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-07-11 09:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Growth stocks may be riskier than stable and established companies, but carefully selected ones may be worth it.</li>  <li>Stay-at-home trends have helped these companies, but their growth rates were high before the pandemic, too.</li>  <li>Both of these fast-growing tech businesses are already profitable.</li> </ul> There's an interesting dilemma when it comes to picking stocks investors can likely hold for years or even decades. On the one hand, investors looking to hold shares for the long haul can stick with stable and established companies that have been around for decades and will likely continue succeeding for the foreseeable future -- companies like&nbsp;<b>Waste Management</b>&nbsp;and&nbsp;<b>Berkshire Hathaway</b>. The downside to this approach, however, is that investors may miss out on the potential outperformance that could come from fast-growing companies over the long haul.</p><p><blockquote><ul><li>成长型股票可能比稳定、成熟的公司风险更大，但精心挑选的股票可能是值得的。</li><li>居家趋势帮助了这些公司，但它们的增长率在大流行之前也很高。</li><li>这两项快速增长的科技业务都已经盈利。</li></ul>在选择投资者可能持有数年甚至数十年的股票时，存在一个有趣的困境。一方面，希望长期持有股票的投资者可以坚持持有稳定且成熟的公司，这些公司已经存在了数十年，并且在可预见的未来可能会继续取得成功——例如<b>废物管理</b>和<b>伯克希尔哈撒韦</b>然而，这种方法的缺点是，投资者可能会错过长期快速增长的公司可能带来的潜在优异表现。</blockquote></p><p> The issue with buying&nbsp;growth stocks, however, is that it's extremely difficult to gauge how long their rapid top-line growth rates can persist. Further, these companies' stock prices could perform very poorly if the growth prospects already baked into the stock price don't pan out. In other words, there's arguably more risk when it comes to betting on growth stocks for the next decade than there is for stable and established companies with decades of success behind them.</p><p><blockquote>然而，购买成长型股票的问题在于，很难衡量其快速的营收增长率能持续多久。此外，如果股价中已经体现的增长前景没有实现，这些公司的股价可能会表现非常糟糕。换句话说，押注未来十年的成长型股票可能比押注拥有数十年成功经验的稳定成熟公司的风险更大。</blockquote></p><p> So if an&nbsp;investor&nbsp;wants to buy growth stocks with a high chance of exceeding expectations over the next 10 years, they better have some pretty good reasons to believe these companies can do exactly that.</p><p><blockquote>因此，如果投资者想购买未来10年极有可能超出预期的成长型股票，他们最好有一些很好的理由相信这些公司能够做到这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/257045ef62f724806bce2b35390a5e4f\" tg-width=\"2000\" tg-height=\"1500\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Here are two growth stocks that have a shot at not only living up to high expectations over the next 10 years but possibly even exceeding them:<b>Zoom Video Communications</b>(NASDAQ:ZM)&nbsp;and&nbsp;<b>Peloton Interactive</b>(NASDAQ:PTON).</p><p><blockquote>以下是两只成长型股票，它们不仅有可能在未来10年达到高预期，甚至可能超过预期：<b>Zoom Video通信公司</b>（纳斯达克：ZM）及<b>Peloton互动</b>（纳斯达克：PTON）。</blockquote></p><p> <b>Zoom and Peloton were already thriving before the pandemic</b></p><p><blockquote><b>Zoom和Peloton在大流行之前就已经蓬勃发展</b></blockquote></p><p> At first glance, investors may conclude that Zoom is nothing more than a pandemic stock. They may argue that the company's success was predicated almost entirely on the fact that much of the world was in lockdown in 2020 and going into 2021.</p><p><blockquote>乍一看，投资者可能会得出结论，Zoom只不过是一只流行病股票。他们可能会说，该公司的成功几乎完全取决于这样一个事实，即世界大部分地区在2020年和2021年都处于封锁状态。</blockquote></p><p> It's true that Zoom benefited significantly from the rise of virtual work in 2020. After all, revenue for the company's fiscal 2021 (a fiscal year ending Jan. 31, 2021) skyrocketed 326% year over year. But investors should note that the trend of using video to collaborate virtually was already extremely strong before the pandemic; fiscal 2020 revenue rose 88% year over year. Growth at the time was particularly strong from large customers. Zoom's customers contributing more than $100,000 of trailing-12-month revenue increased 86% year over year in the fourth quarter of fiscal 2020.</p><p><blockquote>确实，Zoom从2020年虚拟工作的兴起中受益匪浅。毕竟，该公司2021财年（截至2021年1月31日的财年）的收入同比飙升326%。但投资者应该注意到，在大流行之前，使用视频进行虚拟协作的趋势就已经非常强劲；2020财年收入同比增长88%。当时来自大客户的增长尤其强劲。2020财年第四季度，Zoom的客户过去12个月收入贡献超过10万美元，同比增长86%。</blockquote></p><p> The same goes for Peloton. The company certainly benefited from the pandemic, but revenue during the quarter ending Dec. 31, 2019 was growing at a year-over-year rate of 77%, with connected fitness subscribers increasing 96% year over year.</p><p><blockquote>Peloton也是如此。该公司当然受益于疫情，但截至2019年12月31日的季度收入同比增长77%，联网健身订户同比增长96%。</blockquote></p><p> <b>Continued momentum</b></p><p><blockquote><b>持续的势头</b></blockquote></p><p> The underlying catalysts driving Zoom and Peloton are both still alive and well. Strong growth persists at both companies.</p><p><blockquote>推动Zoom和Peloton的潜在催化剂仍然存在。两家公司都持续强劲增长。</blockquote></p><p> Despite facing extremely tough comparisons in the year-ago quarter, from when both companies were benefiting from soaring demand amid lockdowns, Zoom's and Peloton's revenue in their most recently reported quarters grew 191% and 141% year over year, respectively.</p><p><blockquote>尽管与去年同期相比面临极其严峻的比较，但Zoom和Peloton在最近报告的季度中的收入分别同比增长了191%和141%，当时两家公司都受益于封锁期间需求飙升。</blockquote></p><p> Looking ahead, Zoom notably guided for fiscal 2022 revenue of nearly $4 billion, up from fiscal 2021 revenue of about $2.7 billion.</p><p><blockquote>展望未来，Zoom特别预计2022财年营收将接近40亿美元，高于2021财年约27亿美元的营收。</blockquote></p><p> Boding well for Peloton's continued momentum, management said in its most recent quarterly update that its monthly average workouts per connected fitness subscription rose to an all-time high, showing how the company's products are still yielding high engagement even as the economy reopens.</p><p><blockquote>管理层在最近的季度更新中表示，其每个互联健身订阅的月平均锻炼次数升至历史新高，这预示着Peloton的持续势头，这表明即使经济重新开放，该公司的产品仍然产生高参与度。</blockquote></p><p> <b>Healthy profits</b></p><p><blockquote><b>健康利润</b></blockquote></p><p> Finally, another factor that makes these companies unique from many other growth stocks is that they are already very profitable. Zoom generated $873 million of net income on $3.3 billion of trailing-12-month sales, and Peloton served up $213 million of net income from $3.7 billion in revenue.</p><p><blockquote>最后，使这些公司与许多其他成长型股票不同的另一个因素是，它们已经非常有利可图。Zoom过去12个月的销售额为33亿美元，净利润为8.73亿美元，Peloton的净利润为37亿美元，净利润为2.13亿美元。</blockquote></p><p> Substantial profits give these companies an edge when it comes to reinvesting in growth opportunities ahead of them and spending on efforts to enhance their competitive positioning and first-mover advantages in their respective industries.</p><p><blockquote>可观的利润使这些公司在对未来的增长机会进行再投资以及努力增强其在各自行业的竞争地位和先发优势方面具有优势。</blockquote></p><p> While there's no guarantee these two stocks will beat the market over the next 10 years, their recent momentum -- before, during, and after the worst part of the pandemic -- suggests they likely have a promising future.</p><p><blockquote>虽然不能保证这两只股票在未来10年内会跑赢市场，但它们最近的势头——在大流行最严重的时期之前、期间和之后——表明它们的未来可能充满希望。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/10/2-growth-stocks-for-the-next-10-years/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom","PTON":"Peloton Interactive, Inc."},"source_url":"https://www.fool.com/investing/2021/07/10/2-growth-stocks-for-the-next-10-years/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196440758","content_text":"Key Points\n\nGrowth stocks may be riskier than stable and established companies, but carefully selected ones may be worth it.\nStay-at-home trends have helped these companies, but their growth rates were high before the pandemic, too.\nBoth of these fast-growing tech businesses are already profitable.\n\nThere's an interesting dilemma when it comes to picking stocks investors can likely hold for years or even decades. On the one hand, investors looking to hold shares for the long haul can stick with stable and established companies that have been around for decades and will likely continue succeeding for the foreseeable future -- companies like Waste Management and Berkshire Hathaway. The downside to this approach, however, is that investors may miss out on the potential outperformance that could come from fast-growing companies over the long haul.\nThe issue with buying growth stocks, however, is that it's extremely difficult to gauge how long their rapid top-line growth rates can persist. Further, these companies' stock prices could perform very poorly if the growth prospects already baked into the stock price don't pan out. In other words, there's arguably more risk when it comes to betting on growth stocks for the next decade than there is for stable and established companies with decades of success behind them.\nSo if an investor wants to buy growth stocks with a high chance of exceeding expectations over the next 10 years, they better have some pretty good reasons to believe these companies can do exactly that.\nIMAGE SOURCE: GETTY IMAGES.\nHere are two growth stocks that have a shot at not only living up to high expectations over the next 10 years but possibly even exceeding them:Zoom Video Communications(NASDAQ:ZM) and Peloton Interactive(NASDAQ:PTON).\nZoom and Peloton were already thriving before the pandemic\nAt first glance, investors may conclude that Zoom is nothing more than a pandemic stock. They may argue that the company's success was predicated almost entirely on the fact that much of the world was in lockdown in 2020 and going into 2021.\nIt's true that Zoom benefited significantly from the rise of virtual work in 2020. After all, revenue for the company's fiscal 2021 (a fiscal year ending Jan. 31, 2021) skyrocketed 326% year over year. But investors should note that the trend of using video to collaborate virtually was already extremely strong before the pandemic; fiscal 2020 revenue rose 88% year over year. Growth at the time was particularly strong from large customers. Zoom's customers contributing more than $100,000 of trailing-12-month revenue increased 86% year over year in the fourth quarter of fiscal 2020.\nThe same goes for Peloton. The company certainly benefited from the pandemic, but revenue during the quarter ending Dec. 31, 2019 was growing at a year-over-year rate of 77%, with connected fitness subscribers increasing 96% year over year.\nContinued momentum\nThe underlying catalysts driving Zoom and Peloton are both still alive and well. Strong growth persists at both companies.\nDespite facing extremely tough comparisons in the year-ago quarter, from when both companies were benefiting from soaring demand amid lockdowns, Zoom's and Peloton's revenue in their most recently reported quarters grew 191% and 141% year over year, respectively.\nLooking ahead, Zoom notably guided for fiscal 2022 revenue of nearly $4 billion, up from fiscal 2021 revenue of about $2.7 billion.\nBoding well for Peloton's continued momentum, management said in its most recent quarterly update that its monthly average workouts per connected fitness subscription rose to an all-time high, showing how the company's products are still yielding high engagement even as the economy reopens.\nHealthy profits\nFinally, another factor that makes these companies unique from many other growth stocks is that they are already very profitable. Zoom generated $873 million of net income on $3.3 billion of trailing-12-month sales, and Peloton served up $213 million of net income from $3.7 billion in revenue.\nSubstantial profits give these companies an edge when it comes to reinvesting in growth opportunities ahead of them and spending on efforts to enhance their competitive positioning and first-mover advantages in their respective industries.\nWhile there's no guarantee these two stocks will beat the market over the next 10 years, their recent momentum -- before, during, and after the worst part of the pandemic -- suggests they likely have a promising 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pls","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":8,"commentSize":10,"repostSize":0,"link":"https://laohu8.com/post/325746222","repostId":"1136576862","repostType":4,"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104902601,"gmtCreate":1620348155703,"gmtModify":1634205910073,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574734648306583","idStr":"3574734648306583"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/104902601","repostId":"1186778449","repostType":4,"repost":{"id":"1186778449","kind":"news","pubTimestamp":1620341777,"share":"https://www.laohu8.com/m/news/1186778449?lang=zh_CN&edition=full","pubTime":"2021-05-07 06:56","market":"hk","language":"en","title":"Dow closes at record high after upbeat jobless claims report<blockquote>乐观的初请失业金人数报告公布后，道琼斯指数收于历史新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1186778449","media":"Reuters","summary":"The Dow Jones Industrial Averageclosed at a record high on Thursday, bolstered by an upbeat weekly jobless claims report, while shares of vaccine makers dipped after U.S. President Joe Biden backed plans to waive patents on COVID-19 shots.Lifted by $Apple$ Inc, the S&P 500 rose after a Labor Department report showed initial claims for state unemployment benefits totaled a seasonally adjusted 498,000 for the week ended May 1, compared with 590,000 in the prior week.$Investors$ were awaiting a mor","content":"<p>The Dow Jones Industrial Average(.DJI)closed at a record high on Thursday, bolstered by an upbeat weekly jobless claims report, while shares of vaccine makers dipped after U.S. President Joe Biden backed plans to waive patents on COVID-19 shots.</p><p><blockquote>道琼斯工业平均指数（。DJI）周四收于创纪录高位，受到乐观的每周初请失业金报告的支撑，而在美国总统乔·拜登支持放弃新冠肺炎疫苗专利的计划后，疫苗制造商的股价下跌。</blockquote></p><p>Lifted by <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc(AAPL.O), the S&amp;P 500 rose after a Labor Department report showed initial claims for state unemployment benefits totaled a seasonally adjusted 498,000 for the week ended May 1, compared with 590,000 in the prior week.</p><p><blockquote>提升者<a href=\"https://laohu8.com/S/AAPL\">苹果</a>Inc(AAPL.O)，劳工部报告显示，截至5月1日当周，经季节调整后首次申请州失业救济人数为498,000人，而前一周为590,000人，标普500上涨。</blockquote></p><p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> were awaiting a more comprehensive non-farm payrolls report on Friday for clues on the strength of the labor market and potentially the U.S. Federal Reserve's stance on monetary policy.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>我们正在等待周五更全面的非农就业报告，以寻找有关劳动力市场实力以及美联储可能的货币政策立场的线索。</blockquote></p><p>\"Investors are encouraged by the low-interest rates and the stimulus that the government is putting into the economy. We're also seeing substantial increases in economic projections and earnings forecasts,\" said Sam Stovall, chief investment strategist at CFRA Research.</p><p><blockquote>CFRA Research首席投资策略师Sam Stovall表示：“投资者受到低利率和政府对经济的刺激措施的鼓舞。我们还看到经济预测和盈利预测大幅上升。”</blockquote></p><p>Pharmaceutical companies dropped after the White House said Biden made the decision to back a proposed waiver for COVID-19 vaccine intellectual property rights.</p><p><blockquote>在白宫表示拜登决定支持新冠肺炎疫苗知识产权豁免提案后，制药公司股价下跌。</blockquote></p><p>Shares in <a href=\"https://laohu8.com/S/PFE\">Pfizer</a> Inc(PFE.N), Moderna Inc(MRNA.O)and <a href=\"https://laohu8.com/S/NVAX\">Novavax</a> Inc(NVAX.O), all involved in the making of COVID-19 vaccines, fell. <a href=\"https://laohu8.com/S/00179\">Johnson</a> &amp; Johnson(JNJ.N)was near unchanged.</p><p><blockquote>于<a href=\"https://laohu8.com/S/PFE\">辉瑞</a>Inc(PFE.N)、Moderna Inc(MRNA.O)和<a href=\"https://laohu8.com/S/NVAX\">Novavax</a>Inc（NVAX.O），所有参与新冠肺炎疫苗生产的公司都下跌了。<a href=\"https://laohu8.com/S/00179\">约翰逊</a>&amp;约翰逊(JNJ.N)几乎没有变化。</blockquote></p><p>The S&amp;P 500 healthcare sector index(.SPXHC)slipped, while the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> biotechnology index &lt;.NBI&gt; also dropped.</p><p><blockquote>标普500医疗保健行业指数(.SPXHC)下跌，而<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>生物技术指数&lt;.NBI&gt;也掉了。</blockquote></p><p>Moderna's shares cut some losses after it said countries around the globe would continue buying its COVID-19 vaccine for years even if patents on the shots are waived.</p><p><blockquote>Moderna表示，即使疫苗专利被放弃，全球各国仍将在数年内继续购买其COVID-19疫苗，该公司股价小幅下跌。</blockquote></p><p>The S&amp;P 500 financials index(.SPSY)was among the top performers.</p><p><blockquote>标普500金融指数(.SPSY)是表现最好的股票之一。</blockquote></p><p>\"One sector we are seeing a lot of opportunities in is the financial sector. We see it as <a href=\"https://laohu8.com/S/AONE\">one</a> that should benefit from higher interest rates and a stronger economic recovery,\" said Ann Guntli, portfolio manager at Chicago-based RMB Capital.</p><p><blockquote>“我们看到很多机会的一个行业是金融业。我们认为它是<a href=\"https://laohu8.com/S/AONE\">一</a>这应该会受益于更高的利率和更强劲的经济复苏，”总部位于芝加哥的人民币资本投资组合经理安·冈特利(Ann Guntli)表示。</blockquote></p><p><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp(MSFT.O), Apple(AAPL.O)and <a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a> Incwere up under 1% for most of the session.</p><p><blockquote><a href=\"https://laohu8.com/S/MSFT\">微软</a>公司(MSFT.O)、苹果(AAPL.O)和<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>该股大部分时间涨幅均低于1%。</blockquote></p><p>Unofficially, the Dow Jones Industrial Average(.DJI)rose 0.92% to end at 34,545.11 points, while the S&amp;P 500(.SPX)gained 0.82% to 4,201.58.</p><p><blockquote>非官方数据显示，道琼斯工业平均指数(.DJI)上涨0.92%，收于34,545.11点，标普500(.SPX)上涨0.82%，收于4,201.58点。</blockquote></p><p>The Nasdaq Composite(.IXIC)climbed 0.37% to 13,632.84.</p><p><blockquote>纳斯达克综合指数(.IXIC)上涨0.37%，至13,632.84点。</blockquote></p><p><a href=\"https://laohu8.com/S/COST\">Costco</a> Wholesale(COST.O)jumped after the retailer said late on Wednesday that its April sales surged 33.5%. That rally helped push the S&amp;P 500 consumers staple index higher.</p><p><blockquote><a href=\"https://laohu8.com/S/COST\">Costco</a>批发(COST.O)周三晚间表示，其4月份销售额飙升33.5%，随后该零售商股价上涨。这一反弹帮助推高了标普500消费必需品指数。</blockquote></p><p><a href=\"https://laohu8.com/S/REGN\">Regeneron Pharmaceuticals</a> Inc(REGN.O)rose after the drugmaker reported a better-than-expected quarterly profit and said it expected demand for its COVID-19 antibody therapy to hold up.</p><p><blockquote><a href=\"https://laohu8.com/S/REGN\">再生元制药</a>Inc(REGN.O)上涨，此前该制药商公布了好于预期的季度利润，并表示预计对其COVID-19抗体疗法的需求将保持不变。</blockquote></p><p><a href=\"https://laohu8.com/S/UBER\">Uber</a> Technologies Inc(UBER.N)tumbled after it signaled it would pay drivers more to get cars back on the road as the pandemic recedes, and disclosed a $600 million charge to provide UK drivers with benefits.</p><p><blockquote><a href=\"https://laohu8.com/S/UBER\">优步</a>科技公司（UBER.N）表示，随着疫情的消退，将向司机支付更多费用，让汽车重新上路，并披露了6亿美元的费用，为英国司机提供福利，股价暴跌。</blockquote></p><p><a href=\"https://laohu8.com/NW/1123939866\" target=\"_blank\"><a href=\"https://laohu8.com/S/SQ\">Square</a> gets a bitcoin boost with revenue up 266%</a></p><p><blockquote><a href=\"https://laohu8.com/NW/1123939866\" target=\"_blank\"><a href=\"https://laohu8.com/S/SQ\">平方</a>比特币增长，收入增长266%</a></blockquote></p><p><a href=\"https://laohu8.com/NW/1159007289\" target=\"_blank\">Beyond Meat swings to a loss as grocery sales growth slows</a></p><p><blockquote><a href=\"https://laohu8.com/NW/1159007289\" target=\"_blank\">随着杂货销售增长放缓，Beyond Meat陷入亏损</a></blockquote></p><p><a href=\"https://laohu8.com/NW/1170281328\" target=\"_blank\">Roku Q1 Active Account Growth Slows, Revenue Booms 79%</a></p><p><blockquote><a href=\"https://laohu8.com/NW/1170281328\" target=\"_blank\">Roku第一季度活跃账户增长放缓，收入猛增79%</a></blockquote></p><p><a href=\"https://laohu8.com/NW/1131126697\" target=\"_blank\">Peloton Crushes Forecasts But Cuts <a href=\"https://laohu8.com/S/GUID\">Guidance</a> Amid Treadmill Recall</a></p><p><blockquote><a href=\"https://laohu8.com/NW/1131126697\" target=\"_blank\">Peloton超出预期但削减<a href=\"https://laohu8.com/S/GUID\">指导</a>跑步机召回</a></blockquote></p><p><a href=\"https://laohu8.com/NW/2133576548\" target=\"_blank\">AMC Chain Posts $567.2 Million Loss as Film Fans Trickle Back</a></p><p><blockquote><a href=\"https://laohu8.com/NW/2133576548\" target=\"_blank\">随着影迷回流，AMC连锁店亏损5.672亿美元</a></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>Dow closes at record high after upbeat jobless claims report<blockquote>乐观的初请失业金人数报告公布后，道琼斯指数收于历史新高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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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\">\nDow closes at record high after upbeat jobless claims report<blockquote>乐观的初请失业金人数报告公布后，道琼斯指数收于历史新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-05-07 06:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Dow Jones Industrial Average(.DJI)closed at a record high on Thursday, bolstered by an upbeat weekly jobless claims report, while shares of vaccine makers dipped after U.S. President Joe Biden backed plans to waive patents on COVID-19 shots.</p><p><blockquote>道琼斯工业平均指数（。DJI）周四收于创纪录高位，受到乐观的每周初请失业金报告的支撑，而在美国总统乔·拜登支持放弃新冠肺炎疫苗专利的计划后，疫苗制造商的股价下跌。</blockquote></p><p>Lifted by <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc(AAPL.O), the S&amp;P 500 rose after a Labor Department report showed initial claims for state unemployment benefits totaled a seasonally adjusted 498,000 for the week ended May 1, compared with 590,000 in the prior week.</p><p><blockquote>提升者<a href=\"https://laohu8.com/S/AAPL\">苹果</a>Inc(AAPL.O)，劳工部报告显示，截至5月1日当周，经季节调整后首次申请州失业救济人数为498,000人，而前一周为590,000人，标普500上涨。</blockquote></p><p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> were awaiting a more comprehensive non-farm payrolls report on Friday for clues on the strength of the labor market and potentially the U.S. Federal Reserve's stance on monetary policy.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>我们正在等待周五更全面的非农就业报告，以寻找有关劳动力市场实力以及美联储可能的货币政策立场的线索。</blockquote></p><p>\"Investors are encouraged by the low-interest rates and the stimulus that the government is putting into the economy. We're also seeing substantial increases in economic projections and earnings forecasts,\" said Sam Stovall, chief investment strategist at CFRA Research.</p><p><blockquote>CFRA Research首席投资策略师Sam Stovall表示：“投资者受到低利率和政府对经济的刺激措施的鼓舞。我们还看到经济预测和盈利预测大幅上升。”</blockquote></p><p>Pharmaceutical companies dropped after the White House said Biden made the decision to back a proposed waiver for COVID-19 vaccine intellectual property rights.</p><p><blockquote>在白宫表示拜登决定支持新冠肺炎疫苗知识产权豁免提案后，制药公司股价下跌。</blockquote></p><p>Shares in <a href=\"https://laohu8.com/S/PFE\">Pfizer</a> Inc(PFE.N), Moderna Inc(MRNA.O)and <a href=\"https://laohu8.com/S/NVAX\">Novavax</a> Inc(NVAX.O), all involved in the making of COVID-19 vaccines, fell. <a href=\"https://laohu8.com/S/00179\">Johnson</a> &amp; Johnson(JNJ.N)was near unchanged.</p><p><blockquote>于<a href=\"https://laohu8.com/S/PFE\">辉瑞</a>Inc(PFE.N)、Moderna Inc(MRNA.O)和<a href=\"https://laohu8.com/S/NVAX\">Novavax</a>Inc（NVAX.O），所有参与新冠肺炎疫苗生产的公司都下跌了。<a href=\"https://laohu8.com/S/00179\">约翰逊</a>&amp;约翰逊(JNJ.N)几乎没有变化。</blockquote></p><p>The S&amp;P 500 healthcare sector index(.SPXHC)slipped, while the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> biotechnology index &lt;.NBI&gt; also dropped.</p><p><blockquote>标普500医疗保健行业指数(.SPXHC)下跌，而<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>生物技术指数&lt;.NBI&gt;也掉了。</blockquote></p><p>Moderna's shares cut some losses after it said countries around the globe would continue buying its COVID-19 vaccine for years even if patents on the shots are waived.</p><p><blockquote>Moderna表示，即使疫苗专利被放弃，全球各国仍将在数年内继续购买其COVID-19疫苗，该公司股价小幅下跌。</blockquote></p><p>The S&amp;P 500 financials index(.SPSY)was among the top performers.</p><p><blockquote>标普500金融指数(.SPSY)是表现最好的股票之一。</blockquote></p><p>\"One sector we are seeing a lot of opportunities in is the financial sector. We see it as <a href=\"https://laohu8.com/S/AONE\">one</a> that should benefit from higher interest rates and a stronger economic recovery,\" said Ann Guntli, portfolio manager at Chicago-based RMB Capital.</p><p><blockquote>“我们看到很多机会的一个行业是金融业。我们认为它是<a href=\"https://laohu8.com/S/AONE\">一</a>这应该会受益于更高的利率和更强劲的经济复苏，”总部位于芝加哥的人民币资本投资组合经理安·冈特利(Ann Guntli)表示。</blockquote></p><p><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp(MSFT.O), Apple(AAPL.O)and <a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a> Incwere up under 1% for most of the session.</p><p><blockquote><a href=\"https://laohu8.com/S/MSFT\">微软</a>公司(MSFT.O)、苹果(AAPL.O)和<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>该股大部分时间涨幅均低于1%。</blockquote></p><p>Unofficially, the Dow Jones Industrial Average(.DJI)rose 0.92% to end at 34,545.11 points, while the S&amp;P 500(.SPX)gained 0.82% to 4,201.58.</p><p><blockquote>非官方数据显示，道琼斯工业平均指数(.DJI)上涨0.92%，收于34,545.11点，标普500(.SPX)上涨0.82%，收于4,201.58点。</blockquote></p><p>The Nasdaq Composite(.IXIC)climbed 0.37% to 13,632.84.</p><p><blockquote>纳斯达克综合指数(.IXIC)上涨0.37%，至13,632.84点。</blockquote></p><p><a href=\"https://laohu8.com/S/COST\">Costco</a> Wholesale(COST.O)jumped after the retailer said late on Wednesday that its April sales surged 33.5%. That rally helped push the S&amp;P 500 consumers staple index higher.</p><p><blockquote><a href=\"https://laohu8.com/S/COST\">Costco</a>批发(COST.O)周三晚间表示，其4月份销售额飙升33.5%，随后该零售商股价上涨。这一反弹帮助推高了标普500消费必需品指数。</blockquote></p><p><a href=\"https://laohu8.com/S/REGN\">Regeneron Pharmaceuticals</a> Inc(REGN.O)rose after the drugmaker reported a better-than-expected quarterly profit and said it expected demand for its COVID-19 antibody therapy to hold up.</p><p><blockquote><a href=\"https://laohu8.com/S/REGN\">再生元制药</a>Inc(REGN.O)上涨，此前该制药商公布了好于预期的季度利润，并表示预计对其COVID-19抗体疗法的需求将保持不变。</blockquote></p><p><a href=\"https://laohu8.com/S/UBER\">Uber</a> Technologies Inc(UBER.N)tumbled after it signaled it would pay drivers more to get cars back on the road as the pandemic recedes, and disclosed a $600 million charge to provide UK drivers with benefits.</p><p><blockquote><a href=\"https://laohu8.com/S/UBER\">优步</a>科技公司（UBER.N）表示，随着疫情的消退，将向司机支付更多费用，让汽车重新上路，并披露了6亿美元的费用，为英国司机提供福利，股价暴跌。</blockquote></p><p><a href=\"https://laohu8.com/NW/1123939866\" target=\"_blank\"><a href=\"https://laohu8.com/S/SQ\">Square</a> gets a bitcoin boost with revenue up 266%</a></p><p><blockquote><a href=\"https://laohu8.com/NW/1123939866\" target=\"_blank\"><a href=\"https://laohu8.com/S/SQ\">平方</a>比特币增长，收入增长266%</a></blockquote></p><p><a href=\"https://laohu8.com/NW/1159007289\" target=\"_blank\">Beyond Meat swings to a loss as grocery sales growth slows</a></p><p><blockquote><a href=\"https://laohu8.com/NW/1159007289\" target=\"_blank\">随着杂货销售增长放缓，Beyond Meat陷入亏损</a></blockquote></p><p><a href=\"https://laohu8.com/NW/1170281328\" target=\"_blank\">Roku Q1 Active Account Growth Slows, Revenue Booms 79%</a></p><p><blockquote><a href=\"https://laohu8.com/NW/1170281328\" target=\"_blank\">Roku第一季度活跃账户增长放缓，收入猛增79%</a></blockquote></p><p><a href=\"https://laohu8.com/NW/1131126697\" target=\"_blank\">Peloton Crushes Forecasts But Cuts <a href=\"https://laohu8.com/S/GUID\">Guidance</a> Amid Treadmill Recall</a></p><p><blockquote><a href=\"https://laohu8.com/NW/1131126697\" target=\"_blank\">Peloton超出预期但削减<a href=\"https://laohu8.com/S/GUID\">指导</a>跑步机召回</a></blockquote></p><p><a href=\"https://laohu8.com/NW/2133576548\" target=\"_blank\">AMC Chain Posts $567.2 Million Loss as Film Fans Trickle Back</a></p><p><blockquote><a href=\"https://laohu8.com/NW/2133576548\" target=\"_blank\">随着影迷回流，AMC连锁店亏损5.672亿美元</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/business/dow-closes-record-high-after-upbeat-jobless-claims-report-2021-05-06/\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","REGN":"再生元制药公司","ROKU":"Roku Inc","PTON":"Peloton Interactive, Inc.","MSFT":"微软","JNJ":"强生","BYND":"Beyond Meat, Inc.",".SPX":"S&P 500 Index","AAPL":"苹果",".IXIC":"NASDAQ Composite","PFE":"辉瑞","UBER":"优步","COST":"好市多","NVAX":"诺瓦瓦克斯医药","MRNA":"Moderna, Inc."},"source_url":"https://www.reuters.com/business/dow-closes-record-high-after-upbeat-jobless-claims-report-2021-05-06/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186778449","content_text":"The Dow Jones Industrial Average(.DJI)closed at a record high on Thursday, bolstered by an upbeat weekly jobless claims report, while shares of vaccine makers dipped after U.S. President Joe Biden backed plans to waive patents on COVID-19 shots.Lifted by Apple Inc(AAPL.O), the S&P 500 rose after a Labor Department report showed initial claims for state unemployment benefits totaled a seasonally adjusted 498,000 for the week ended May 1, compared with 590,000 in the prior week.Investors were awaiting a more comprehensive non-farm payrolls report on Friday for clues on the strength of the labor market and potentially the U.S. Federal Reserve's stance on monetary policy.\"Investors are encouraged by the low-interest rates and the stimulus that the government is putting into the economy. We're also seeing substantial increases in economic projections and earnings forecasts,\" said Sam Stovall, chief investment strategist at CFRA Research.Pharmaceutical companies dropped after the White House said Biden made the decision to back a proposed waiver for COVID-19 vaccine intellectual property rights.Shares in Pfizer Inc(PFE.N), Moderna Inc(MRNA.O)and Novavax Inc(NVAX.O), all involved in the making of COVID-19 vaccines, fell. Johnson & Johnson(JNJ.N)was near unchanged.The S&P 500 healthcare sector index(.SPXHC)slipped, while the Nasdaq biotechnology index <.NBI> also dropped.Moderna's shares cut some losses after it said countries around the globe would continue buying its COVID-19 vaccine for years even if patents on the shots are waived.The S&P 500 financials index(.SPSY)was among the top performers.\"One sector we are seeing a lot of opportunities in is the financial sector. We see it as one that should benefit from higher interest rates and a stronger economic recovery,\" said Ann Guntli, portfolio manager at Chicago-based RMB Capital.Microsoft Corp(MSFT.O), Apple(AAPL.O)and Amazon.com Incwere up under 1% for most of the session.Unofficially, the Dow Jones Industrial Average(.DJI)rose 0.92% to end at 34,545.11 points, while the S&P 500(.SPX)gained 0.82% to 4,201.58.The Nasdaq Composite(.IXIC)climbed 0.37% to 13,632.84.Costco Wholesale(COST.O)jumped after the retailer said late on Wednesday that its April sales surged 33.5%. That rally helped push the S&P 500 consumers staple index higher.Regeneron Pharmaceuticals Inc(REGN.O)rose after the drugmaker reported a better-than-expected quarterly profit and said it expected demand for its COVID-19 antibody therapy to hold up.Uber Technologies Inc(UBER.N)tumbled after it signaled it would pay drivers more to get cars back on the road as the pandemic recedes, and disclosed a $600 million charge to provide UK drivers with benefits.Square gets a bitcoin boost with revenue up 266%Beyond Meat swings to a loss as grocery sales growth slowsRoku Q1 Active Account Growth Slows, Revenue Booms 79%Peloton Crushes Forecasts But Cuts Guidance Amid Treadmill RecallAMC Chain Posts $567.2 Million Loss as Film Fans Trickle 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pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/131230536","repostId":"2137213077","repostType":4,"isVote":1,"tweetType":1,"viewCount":314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375532891,"gmtCreate":1619359647013,"gmtModify":1634274025909,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574734648306583","idStr":"3574734648306583"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/375532891","repostId":"1184404050","repostType":4,"isVote":1,"tweetType":1,"viewCount":456,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360535354,"gmtCreate":1613954736478,"gmtModify":1634551797153,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574734648306583","idStr":"3574734648306583"},"themes":[],"htmlText":"Comment and like pls","listText":"Comment and like pls","text":"Comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/360535354","repostId":"1161529893","repostType":4,"repost":{"id":"1161529893","kind":"news","pubTimestamp":1613733842,"share":"https://www.laohu8.com/m/news/1161529893?lang=zh_CN&edition=full","pubTime":"2021-02-19 19:24","market":"us","language":"en","title":"Goldman Sachs is joining the robo-investing party — should you?<blockquote>高盛正在加入机器人投资行列——你应该加入吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1161529893","media":"Marketwatch","summary":"‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by so","content":"<p>  ‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.  Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.</p><p><blockquote>加州圣地亚哥的财务顾问万斯·巴斯说，就像在拉斯维加斯一样，众议院通常会获胜。他经营着一家名为Your Dedicated Fiduciary的公司。机器人投资在几乎每个经纪平台上都变得越来越普遍。直到周二，高盛GS(-0.91%)将其机器人咨询服务Marcus限制为至少有1000万美元可投资的人。</blockquote></p><p> Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.</p><p><blockquote>现在，任何拥有至少1,000美元可投资的人都可以使用高盛一些最富有的客户使用的相同交易算法，每年只需支付0.35%的咨询费。但投资专家表示，在跳上机器人投资列车之前，需要考虑更多成本。</blockquote></p><p> “Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.</p><p><blockquote>“就像在拉斯维加斯一样，众议院通常会获胜，”加利福尼亚州圣地亚哥的财务顾问万斯·巴斯(Vance Barse)说，他经营着一家名为Your Dedicated Fiduciary的公司。</blockquote></p><p> Although the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.</p><p><blockquote>尽管35个基点的价格标签对高盛来说是一个“亏损领头羊”，但他表示，公司通常会提出这样的报价，以吸引客户向他们交叉销售银行产品。</blockquote></p><p> “People forget that banks are ultimately in the business of making money,” he said.</p><p><blockquote>“人们忘记了银行最终是为了赚钱，”他说。</blockquote></p><p> Goldman Sachs declined to comment.</p><p><blockquote>高盛拒绝置评。</blockquote></p><p> The company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.</p><p><blockquote>该公司是其他提供数字顾问的主要金融服务公司之一，包括Vanguard、Fidelity和Schwab SCHW，+1.03%，以及Betterment和Wealthfront等初创公司。</blockquote></p><p> Fees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.</p><p><blockquote>机器人顾问的费用从0.25%左右开始，传统经纪商的费用会增加到1%及以上。行业出版物Inside Information对近1,000名理财规划师进行的一项调查发现，投资组合越大，客户支付的费用比例就越低。</blockquote></p><p> The median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.</p><p><blockquote>对于100万美元或以下的投资组合，年费中位数徘徊在1%左右，对于价值500万至1000万美元的投资组合，年费中位数徘徊在0.5%左右。</blockquote></p><p> Robo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.</p><p><blockquote>高盛和Betterment提供的机器人顾问与Robinhood等机器人平台不同。前者建议投资组合专注于交易所交易基金，而Robinhood允许用户投资个人ETF、股票、期权甚至加密货币。</blockquote></p><p> <b>Robo investing as a self-driving car</b></p><p><blockquote><b>机器人投资作为自动驾驶汽车</b></blockquote></p><p> Consumers have turned to robo-investing at unprecedented levels during the pandemic.</p><p><blockquote>在疫情期间，消费者以前所未有的水平转向机器人投资。</blockquote></p><p> The rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.</p><p><blockquote>根据研究和咨询公司艾特集团5月份发布的一份报告，与去年第四季度相比，2020年第一季度的新开户率跃升了50%至300%。</blockquote></p><p> So what is rob-investing? Think of it like a self-driving car.</p><p><blockquote>那么什么是rob投资呢？把它想象成一辆自动驾驶汽车。</blockquote></p><p> You put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.</p><p><blockquote>你输入你的目的地，在后座系好安全带，你的司机（机器人顾问）就会到达那里。作为乘客，如果你担心你的司机把你引向错误的方向，你就不能轻易刹车。如果您赶时间并想更快地到达目的地，也不能踩油门。</blockquote></p><p> Robo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.</p><p><blockquote>机器人投资平台使用先进的交易算法软件，根据个人的风险偏好以及期望的短期和长期回报等因素来设计投资组合。</blockquote></p><p> There are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.</p><p><blockquote>有200多个平台提供这些服务，每年收取的咨询费通常不超过0.5%，而人力投资顾问收取的年费为1%。</blockquote></p><p> And rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.</p><p><blockquote>机器人顾问处理资产的买卖，而不是完全自己投资，这可能成为第二份工作并导致情绪化的投资决策。</blockquote></p><p> Cynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.</p><p><blockquote>嘉信理财数字咨询和创新副总裁辛西娅·洛(Cynthia Loh)不同意这种观点，她认为机器人投资并不意味着让技术控制你的资金。她说，嘉信理财拥有一支投资专家团队，负责监督投资策略并在市场波动期间进行监控，尽管有些服务比其他服务有更多的人工输入。</blockquote></p><p> As she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”</p><p><blockquote>正如她最近在MarketWatch上所写：“关于自动化投资的一个常见误解是，选择机器人顾问本质上意味着将资金的控制权交给机器人。事实是，机器人解决方案结合了自动化和人工组件，在幕后运行事物。”</blockquote></p><p> <b>Robos appeal to inexperienced investors</b></p><p><blockquote><b>机器人吸引缺乏经验的投资者</b></blockquote></p><p> Robo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.</p><p><blockquote>机器人投资往往吸引缺乏经验的投资者或没有时间或精力管理自己投资组合的投资者。巴尔斯说，这些投资者可以对“一劳永逸”的投资方法感到放心，随着时间的推移，让市场做自己的事情”。</blockquote></p><p> That makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.</p><p><blockquote>NerdWallet的投资和退休专家蒂芙尼·拉姆-贝尔福(Tiffany Lam-Balfour)表示，这使得你更容易承受市场波动，因为你不一定必须做出购买或出售资产的冲动决定。</blockquote></p><p> “When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”</p><p><blockquote>“当你投资时，你不会想一直关注市场并说‘哦，我需要摆脱困境’，”她说。“你想让专业人士来帮你度过难关，因为他们知道你的时间范围，他们会自动为你调整你的投资组合。”</blockquote></p><p></p><p> That said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”</p><p><blockquote>也就是说，“你不能指望你的投资只会上涨。即使你有世界上最好的人类财务顾问，你也不能指望这一点。”</blockquote></p><p> Others disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.</p><p><blockquote>其他人不同意，并表示机器人顾问对老年投资者有吸引力。“退休后的规划和支付费用很复杂。有很多选择可以帮助投资者度过难关，机器人投资就是其中之一，”Loh说。</blockquote></p><p> “Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.</p><p><blockquote>“许多深思熟虑的长期投资者发现，他们想要一种更现代、更简化、更便宜的投资方式，而机器人投资正好符合这一要求。他们很乐意让技术来处理更困难、更耗时的日常活动。投资者自己做，”她补充道。</blockquote></p><p> <b>There is often no door to knock on</b></p><p><blockquote><b>常常无门可敲</b></blockquote></p><p> Your robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.</p><p><blockquote>你的机器人顾问只知道你告诉它什么。大多数机器人投资平台上要求您填写的简单问卷将收集有关您的年收入、期望退休年龄以及您愿意承担的风险水平的信息。</blockquote></p><p> It won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.</p><p><blockquote>然而，它不会知道你是否刚刚有了一个孩子，并想开始为他们的教育存钱，或者你是否最近失业了。</blockquote></p><p> “The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.</p><p><blockquote>“那么问题就变成了那个人向谁寻求建议？该平台是否提供建议？如果提供，复杂程度如何？”巴斯说。</blockquote></p><p> Not all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.</p><p><blockquote>并非所有平台都提供个性化投资建议，提供人工建议的混合模式往往会收取更高的年费。</blockquote></p><p> Additionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.</p><p><blockquote>此外，纽约市财务咨询集团Lifelaidout的注册财务规划师罗杰·马(Roger Ma)表示，机器人顾问不一定“在管理资金时首先考虑税收效率”。</blockquote></p><p> For instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.</p><p><blockquote>例如，投资者抵消长期投资税款的一种常见方式是出售已累计亏损的资产。《工作你的钱，而不是你的生活》一书的作者马说，传统顾问通常专注于构建能带来最节税结果的投资组合。</blockquote></p><p> But with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.</p><p><blockquote>但通过机器人投资，为您进行的交易与为许多其他投资者进行的交易是相同的，这些投资者可能属于与您不同的税级。</blockquote></p><p> On top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.</p><p><blockquote>最重要的是，虽然机器人投资可能感觉像是一种简单的投资方式，特别是对于初学者来说，它可能会“使投资过于复杂”，马云说。</blockquote></p><p> “If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.</p><p><blockquote>“如果你只是想尝试一下，并且想感觉自己投资于多元化的投资组合，我不会说绝对不要聘请机器人顾问，”他说。</blockquote></p><p> Don’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.</p><p><blockquote>他补充说，不要排除通过目标日期基金进行投资，该基金选择单一基金进行投资，并根据投资目标随着时间的推移调整头寸。</blockquote></p><p> But not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.</p><p><blockquote>但并不是每个人都能区分机器人的建议和人类的建议。2015年，MarketWatch邀请四位著名的机器人顾问和四位传统的有血有肉的机器人顾问为一位假设的35岁投资者构建投资组合，投资金额为40,000美元。</blockquote></p><p> The results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.</p><p><blockquote>对于机器人顾问的批评者来说，结果或许令人惊讶。Pinnacle Advisory Group的研究总监Michael Kitces在审查结果后表示，机器人的建议与人类顾问的建议“没有太大不同”。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs is joining the robo-investing party — should you?<blockquote>高盛正在加入机器人投资行列——你应该加入吗？</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\">\nGoldman Sachs is joining the robo-investing party — should you?<blockquote>高盛正在加入机器人投资行列——你应该加入吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Marketwatch</strong><span class=\"h-time small\">2021-02-19 19:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  ‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.  Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.</p><p><blockquote>加州圣地亚哥的财务顾问万斯·巴斯说，就像在拉斯维加斯一样，众议院通常会获胜。他经营着一家名为Your Dedicated Fiduciary的公司。机器人投资在几乎每个经纪平台上都变得越来越普遍。直到周二，高盛GS(-0.91%)将其机器人咨询服务Marcus限制为至少有1000万美元可投资的人。</blockquote></p><p> Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.</p><p><blockquote>现在，任何拥有至少1,000美元可投资的人都可以使用高盛一些最富有的客户使用的相同交易算法，每年只需支付0.35%的咨询费。但投资专家表示，在跳上机器人投资列车之前，需要考虑更多成本。</blockquote></p><p> “Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.</p><p><blockquote>“就像在拉斯维加斯一样，众议院通常会获胜，”加利福尼亚州圣地亚哥的财务顾问万斯·巴斯(Vance Barse)说，他经营着一家名为Your Dedicated Fiduciary的公司。</blockquote></p><p> Although the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.</p><p><blockquote>尽管35个基点的价格标签对高盛来说是一个“亏损领头羊”，但他表示，公司通常会提出这样的报价，以吸引客户向他们交叉销售银行产品。</blockquote></p><p> “People forget that banks are ultimately in the business of making money,” he said.</p><p><blockquote>“人们忘记了银行最终是为了赚钱，”他说。</blockquote></p><p> Goldman Sachs declined to comment.</p><p><blockquote>高盛拒绝置评。</blockquote></p><p> The company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.</p><p><blockquote>该公司是其他提供数字顾问的主要金融服务公司之一，包括Vanguard、Fidelity和Schwab SCHW，+1.03%，以及Betterment和Wealthfront等初创公司。</blockquote></p><p> Fees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.</p><p><blockquote>机器人顾问的费用从0.25%左右开始，传统经纪商的费用会增加到1%及以上。行业出版物Inside Information对近1,000名理财规划师进行的一项调查发现，投资组合越大，客户支付的费用比例就越低。</blockquote></p><p> The median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.</p><p><blockquote>对于100万美元或以下的投资组合，年费中位数徘徊在1%左右，对于价值500万至1000万美元的投资组合，年费中位数徘徊在0.5%左右。</blockquote></p><p> Robo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.</p><p><blockquote>高盛和Betterment提供的机器人顾问与Robinhood等机器人平台不同。前者建议投资组合专注于交易所交易基金，而Robinhood允许用户投资个人ETF、股票、期权甚至加密货币。</blockquote></p><p> <b>Robo investing as a self-driving car</b></p><p><blockquote><b>机器人投资作为自动驾驶汽车</b></blockquote></p><p> Consumers have turned to robo-investing at unprecedented levels during the pandemic.</p><p><blockquote>在疫情期间，消费者以前所未有的水平转向机器人投资。</blockquote></p><p> The rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.</p><p><blockquote>根据研究和咨询公司艾特集团5月份发布的一份报告，与去年第四季度相比，2020年第一季度的新开户率跃升了50%至300%。</blockquote></p><p> So what is rob-investing? Think of it like a self-driving car.</p><p><blockquote>那么什么是rob投资呢？把它想象成一辆自动驾驶汽车。</blockquote></p><p> You put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.</p><p><blockquote>你输入你的目的地，在后座系好安全带，你的司机（机器人顾问）就会到达那里。作为乘客，如果你担心你的司机把你引向错误的方向，你就不能轻易刹车。如果您赶时间并想更快地到达目的地，也不能踩油门。</blockquote></p><p> Robo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.</p><p><blockquote>机器人投资平台使用先进的交易算法软件，根据个人的风险偏好以及期望的短期和长期回报等因素来设计投资组合。</blockquote></p><p> There are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.</p><p><blockquote>有200多个平台提供这些服务，每年收取的咨询费通常不超过0.5%，而人力投资顾问收取的年费为1%。</blockquote></p><p> And rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.</p><p><blockquote>机器人顾问处理资产的买卖，而不是完全自己投资，这可能成为第二份工作并导致情绪化的投资决策。</blockquote></p><p> Cynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.</p><p><blockquote>嘉信理财数字咨询和创新副总裁辛西娅·洛(Cynthia Loh)不同意这种观点，她认为机器人投资并不意味着让技术控制你的资金。她说，嘉信理财拥有一支投资专家团队，负责监督投资策略并在市场波动期间进行监控，尽管有些服务比其他服务有更多的人工输入。</blockquote></p><p> As she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”</p><p><blockquote>正如她最近在MarketWatch上所写：“关于自动化投资的一个常见误解是，选择机器人顾问本质上意味着将资金的控制权交给机器人。事实是，机器人解决方案结合了自动化和人工组件，在幕后运行事物。”</blockquote></p><p> <b>Robos appeal to inexperienced investors</b></p><p><blockquote><b>机器人吸引缺乏经验的投资者</b></blockquote></p><p> Robo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.</p><p><blockquote>机器人投资往往吸引缺乏经验的投资者或没有时间或精力管理自己投资组合的投资者。巴尔斯说，这些投资者可以对“一劳永逸”的投资方法感到放心，随着时间的推移，让市场做自己的事情”。</blockquote></p><p> That makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.</p><p><blockquote>NerdWallet的投资和退休专家蒂芙尼·拉姆-贝尔福(Tiffany Lam-Balfour)表示，这使得你更容易承受市场波动，因为你不一定必须做出购买或出售资产的冲动决定。</blockquote></p><p> “When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”</p><p><blockquote>“当你投资时，你不会想一直关注市场并说‘哦，我需要摆脱困境’，”她说。“你想让专业人士来帮你度过难关，因为他们知道你的时间范围，他们会自动为你调整你的投资组合。”</blockquote></p><p></p><p> That said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”</p><p><blockquote>也就是说，“你不能指望你的投资只会上涨。即使你有世界上最好的人类财务顾问，你也不能指望这一点。”</blockquote></p><p> Others disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.</p><p><blockquote>其他人不同意，并表示机器人顾问对老年投资者有吸引力。“退休后的规划和支付费用很复杂。有很多选择可以帮助投资者度过难关，机器人投资就是其中之一，”Loh说。</blockquote></p><p> “Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.</p><p><blockquote>“许多深思熟虑的长期投资者发现，他们想要一种更现代、更简化、更便宜的投资方式，而机器人投资正好符合这一要求。他们很乐意让技术来处理更困难、更耗时的日常活动。投资者自己做，”她补充道。</blockquote></p><p> <b>There is often no door to knock on</b></p><p><blockquote><b>常常无门可敲</b></blockquote></p><p> Your robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.</p><p><blockquote>你的机器人顾问只知道你告诉它什么。大多数机器人投资平台上要求您填写的简单问卷将收集有关您的年收入、期望退休年龄以及您愿意承担的风险水平的信息。</blockquote></p><p> It won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.</p><p><blockquote>然而，它不会知道你是否刚刚有了一个孩子，并想开始为他们的教育存钱，或者你是否最近失业了。</blockquote></p><p> “The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.</p><p><blockquote>“那么问题就变成了那个人向谁寻求建议？该平台是否提供建议？如果提供，复杂程度如何？”巴斯说。</blockquote></p><p> Not all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.</p><p><blockquote>并非所有平台都提供个性化投资建议，提供人工建议的混合模式往往会收取更高的年费。</blockquote></p><p> Additionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.</p><p><blockquote>此外，纽约市财务咨询集团Lifelaidout的注册财务规划师罗杰·马(Roger Ma)表示，机器人顾问不一定“在管理资金时首先考虑税收效率”。</blockquote></p><p> For instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.</p><p><blockquote>例如，投资者抵消长期投资税款的一种常见方式是出售已累计亏损的资产。《工作你的钱，而不是你的生活》一书的作者马说，传统顾问通常专注于构建能带来最节税结果的投资组合。</blockquote></p><p> But with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.</p><p><blockquote>但通过机器人投资，为您进行的交易与为许多其他投资者进行的交易是相同的，这些投资者可能属于与您不同的税级。</blockquote></p><p> On top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.</p><p><blockquote>最重要的是，虽然机器人投资可能感觉像是一种简单的投资方式，特别是对于初学者来说，它可能会“使投资过于复杂”，马云说。</blockquote></p><p> “If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.</p><p><blockquote>“如果你只是想尝试一下，并且想感觉自己投资于多元化的投资组合，我不会说绝对不要聘请机器人顾问，”他说。</blockquote></p><p> Don’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.</p><p><blockquote>他补充说，不要排除通过目标日期基金进行投资，该基金选择单一基金进行投资，并根据投资目标随着时间的推移调整头寸。</blockquote></p><p> But not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.</p><p><blockquote>但并不是每个人都能区分机器人的建议和人类的建议。2015年，MarketWatch邀请四位著名的机器人顾问和四位传统的有血有肉的机器人顾问为一位假设的35岁投资者构建投资组合，投资金额为40,000美元。</blockquote></p><p> The results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.</p><p><blockquote>对于机器人顾问的批评者来说，结果或许令人惊讶。Pinnacle Advisory Group的研究总监Michael Kitces在审查结果后表示，机器人的建议与人类顾问的建议“没有太大不同”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page\">Marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161529893","content_text":"‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\n\nRobo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.\nNow anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.\n“Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\nAlthough the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.\n“People forget that banks are ultimately in the business of making money,” he said.\nGoldman Sachs declined to comment.\nThe company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.\nFees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.\nThe median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.\nRobo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.\nRobo investing as a self-driving car\nConsumers have turned to robo-investing at unprecedented levels during the pandemic.\nThe rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.\nSo what is rob-investing? Think of it like a self-driving car.\nYou put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.\nRobo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.\nThere are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.\nAnd rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.\nCynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.\nAs she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”\nRobos appeal to inexperienced investors\nRobo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.\nThat makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.\n“When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”\nThat said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”\nOthers disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.\n“Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.\nThere is often no door to knock on\nYour robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.\nIt won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.\n“The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.\nNot all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.\nAdditionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.\nFor instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.\nBut with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.\nOn top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.\n“If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.\nDon’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.\nBut not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.\nThe results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":242,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154607292,"gmtCreate":1625520204416,"gmtModify":1633940137025,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574734648306583","idStr":"3574734648306583"},"themes":[],"htmlText":"Like comment pls","listText":"Like comment pls","text":"Like comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/154607292","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohu8.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</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\">\nIs the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":391,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101637749,"gmtCreate":1619903776881,"gmtModify":1634209280250,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574734648306583","idStr":"3574734648306583"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/101637749","repostId":"1105099718","repostType":4,"repost":{"id":"1105099718","kind":"news","pubTimestamp":1619897946,"share":"https://www.laohu8.com/m/news/1105099718?lang=zh_CN&edition=full","pubTime":"2021-05-02 03:39","market":"us","language":"en","title":"Warren Buffett Faces Impatient Investors as Berkshire Hathaway Returns Decline<blockquote>伯克希尔哈撒韦公司回报下滑，沃伦·巴菲特面临不耐烦的投资者</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105099718","media":"WSJ","summary":"Institutional shareholders are pressing for change on climate and governance at the Omaha, Neb., conglomerate. Professional money managers are turning up the heat on Warren Buffett’sBerkshire Hathaway Inc.BRK.B-0.95%. California Public Employees’ Retirement System and Neuberger Berman have demanded that the Omaha, Neb., conglomerate bring in new directors and provide more disclosures on climate risks and executive. While many of the complaints aren’t new and none of the shareholder proposals are","content":"<p>Institutional shareholders are pressing for change on climate and governance at the Omaha, Neb., conglomerate</p><p><blockquote>机构股东正在敦促这家位于内布拉斯加州奥马哈的企业集团在气候和治理方面进行变革</blockquote></p><p>Professional money managers are turning up the heat on Warren Buffett’s<u>Berkshire Hathaway</u>&nbsp;Inc.BRK.B -0.95%</p><p><blockquote>专业基金经理正在加大对沃伦·巴菲特的压力<u>伯克希尔哈撒韦</u>公司BRK.B-0.95%</blockquote></p><p>California Public Employees’ Retirement System and Neuberger Berman have demanded that the Omaha, Neb., conglomerate bring in new directors and provide more disclosures on climate risks and executive<img src=\"https://static.tigerbbs.com/1dd969e4b237144cd02112f41464d169\" tg-width=\"824\" tg-height=\"1396\" referrerpolicy=\"no-referrer\"></p><p><blockquote>加州公共雇员退休系统和路博迈要求这家位于内布拉斯加州奥马哈的企业集团引入新董事，并提供更多有关气候风险和高管的信息</blockquote></p><p>Leading up to Berkshire’s annual meeting on Saturday, proxy advisers Glass Lewis &amp; Co. and Institutional Shareholder Services Inc. have recommended that investors withhold their votes for board members.</p><p><blockquote>在周六伯克希尔年会之前，代理顾问Glass Lewis&amp;Co.和Institutional Shareholder Services Inc.建议投资者保留对董事会成员的投票。</blockquote></p><p>While many of the complaints aren’t new and none of the shareholder proposals are likely to pass, Berkshire’s lackluster returns in recent years have made it more vulnerable to criticism amid a growing wave of investor interest in corporate sustainability issues.</p><p><blockquote>尽管许多投诉并不新鲜，股东提案也不太可能获得通过，但在投资者对企业可持续发展问题的兴趣日益浓厚的情况下，伯克希尔近年来低迷的回报使其更容易受到批评。</blockquote></p><p>The shareholder movement to press companies on climate change, social progress and governance continues to gain steam in the U.S., emerging as<u>a key selling point for money managers in their efforts to keep client money</u>.</p><p><blockquote>在美国，股东就气候变化、社会进步和治理问题向公司施压的运动继续升温，<u>基金经理努力留住客户资金的一个关键卖点</u>.</blockquote></p><p>Under Mr. Buffett’s leadership,<u>the firm boasts 20% compounded annualized gains from 1965 to 2020</u>, outperforming the S&amp;P 500’s 10.2% gains including dividends during the period. Berkshire’s total returns over the past three- and five-year periods were 12% and 14%, respectively, compared with the index’s 19% and 18%.</p><p><blockquote>在巴菲特先生的领导下，<u>该公司拥有1965年至2020年20%的复合年化收益</u>，跑赢标普500期内含股息10.2%的涨幅。伯克希尔过去三年和五年的总回报率分别为12%和14%，而该指数的总回报率为19%和18%。</blockquote></p><p>“Berkshire has gotten a pass in part because of its historically strong financial performance,” said Simiso Nzima, head of corporate governance at Calpers.</p><p><blockquote>Calpers公司治理主管Simiso Nzima表示：“伯克希尔获得通过的部分原因是其历史上强劲的财务业绩。”</blockquote></p><p>Berkshire has continued to stress its continued focus on the long game. Mr. Buffett, who is chief executive and chairman of the company, built up<u>a diverse portfolio of mostly U.S. businesses and investments meant to perform over decades</u>, not to compete with a volatile market buoyed by booming tech stocks.</p><p><blockquote>伯克希尔哈撒韦公司继续强调其对长期发展的持续关注。巴菲特先生是该公司的首席执行官兼董事长，他建立了<u>主要由美国企业和投资组成的多元化投资组合，预计将持续数十年</u>，而不是与由蓬勃发展的科技股提振的波动市场竞争。</blockquote></p><p>Calpers, the nation’s largest public-pension fund with $444 billion in assets, co-sponsored a shareholder proposal imploring Berkshire to provide more disclosures on climate-related risks and opportunities.</p><p><blockquote>拥有4440亿美元资产的美国最大公共养老基金Calpers共同发起了一项股东提案，恳求伯克希尔提供更多有关气候相关风险和机遇的信息。</blockquote></p><p>The pension fund is also withholding its votes to re-elect members of the board’s audit and governance committees on grounds of failing to meet shareholder demands over climate-risk disclosures. It said it was concerned that the board lacks new members, doesn’t engage with shareholders and isn’t letting investors vote on executive pay plans.</p><p><blockquote>该养老基金还拒绝投票连任董事会审计和治理委员会成员，理由是未能满足股东对气候风险披露的要求。该公司表示，担心董事会缺乏新成员，不与股东接触，也不让投资者对高管薪酬计划进行投票。</blockquote></p><p>“If you don’t refresh the board, you don’t have a next generation of directors able to learn from the long-serving directors before they leave the board,” Mr. Nzima said.</p><p><blockquote>“如果不更新董事会，下一代董事就无法在长期任职的董事离开董事会之前向他们学习，”恩齐马先生说。</blockquote></p><p>Berkshire declined to comment ahead of the company’s Saturday meeting.</p><p><blockquote>伯克希尔拒绝在公司周六会议前发表评论。</blockquote></p><p>Neuberger, a privately held money manager with more than $429 billion in assets, also said it would vote for several shareholder-led proposals related to environmental, social and corporate-governance issues, often abbreviated as ESG.</p><p><blockquote>拥有超过4290亿美元资产的私人基金管理公司Neuberger也表示，将投票支持几项与环境、社会和公司治理问题（通常缩写为ESG）相关的股东主导的提案。</blockquote></p><p>“One would think that if companies have a responsibility to look out for the environment or deliver good on social issues and governance, that Berkshire might be a leader in these areas,” said Michelle Giordano, a Neuberger analyst who follows the company. “But it doesn’t seem like they are.”</p><p><blockquote>跟踪该公司的路博迈分析师米歇尔·佐丹奴(Michelle Giordano)表示：“人们可能会认为，如果公司有责任保护环境或在社会问题和治理方面提供良好服务，那么伯克希尔可能会成为这些领域的领导者。”“但好像不是。”</blockquote></p><p>Berkshire said in its annual proxy statement that while it agreed companies had a responsibility to manage&nbsp;climate risks, it preferred to let its various operating units commit to their own environmental policies. Mandates from a small corporate office, the company wrote, would infringe upon the autonomy that has helped those businesses thrive under Berkshire’s ownership. Berkshire Hathaway Energy, for instance, already produces<u>a sustainability report</u>.</p><p><blockquote>伯克希尔在其年度委托书中表示，虽然它同意公司有责任管理气候风险，但它更愿意让其各个运营部门致力于自己的环境政策。该公司写道，小型公司办公室的授权将侵犯帮助这些企业在伯克希尔旗下蓬勃发展的自主权。例如，伯克希尔哈撒韦能源公司已经生产<u>可持续发展报告</u>.</blockquote></p><p>Calpers has also pledged to support a proposal requiring the company to report its efforts to diversify its staff.</p><p><blockquote>Calpers还承诺支持一项提案，要求该公司报告其员工多元化的努力。</blockquote></p><p>Berkshire said the diversity-report proposal improperly suggests that “there is a standardized technique for each of Berkshire’s more than 60 operating businesses to address diversity, equity and inclusion.”</p><p><blockquote>伯克希尔表示，多元化报告提案不恰当地暗示“伯克希尔60多家运营业务中的每一家都有一种标准化技术来解决多元化、公平性和包容性问题。”</blockquote></p><p>“It would be unreasonable to ask for uniform, quantitative reporting for the purposes of comparing such dissimilar operations in different geographic locations,” Berkshire wrote.</p><p><blockquote>伯克希尔写道：“为了比较不同地理位置的此类不同业务而要求统一的定量报告是不合理的。”</blockquote></p><p>Glass Lewis and ISS recommended shareholders vote for the ESG proposals and withhold votes for certain directors.</p><p><blockquote>Glass Lewis和ISS建议股东投票支持ESG提案，并对某些董事弃权。</blockquote></p><p>“This year there’s a lot more attention given from mainstream investors on ESG issues,” said Courteney Keatinge, a senior director of ESG research at Glass Lewis.</p><p><blockquote>Glass Lewis ESG研究高级总监Courteney Keatinge表示：“今年主流投资者对ESG问题给予了更多关注。”</blockquote></p><p>Another factor is at play: Berkshire shares are slowly changing hands.</p><p><blockquote>另一个因素在起作用：伯克希尔的股票正在慢慢易手。</blockquote></p><p></p><p>Mr. Buffett’s longstanding plan to shrink his stake in the company over time has shifted more Berkshire shares to big institutional investors, said Lawrence Cunningham, a law professor at George Washington University who has written extensively about the company.</p><p><blockquote>乔治华盛顿大学法学教授劳伦斯·坎宁安(Lawrence Cunningham)撰写了大量有关该公司的文章，他表示，随着时间的推移，巴菲特减持该公司股份的长期计划已将更多伯克希尔股票转移到大型机构投资者手中。</blockquote></p><p>About 70% of Berkshire’s shares are owned by individuals, many of whom are longtime holders loyal to Mr. Buffett, Mr. Cunningham said. And many don’t care whether Berkshire lacks a corporate sustainability report or an investor-relations team at the ready to answer their questions.</p><p><blockquote>坎宁安表示，伯克希尔约70%的股票由个人持有，其中许多人是忠于巴菲特的长期持有者。许多人并不关心伯克希尔是否缺乏企业可持续发展报告或随时准备回答他们问题的投资者关系团队。</blockquote></p><p>“Berkshire’s unusual and valued family of individual shareholders may add to your understanding of our reluctance to court Wall Street analysts and institutional investors,” Mr. Buffett wrote in his most recent letter to shareholders. “We already have the investors we want and don’t think that they, on balance, would be upgraded by replacements.”</p><p><blockquote>巴菲特在最近致股东的信中写道：“伯克希尔不同寻常且有价值的个人股东家族可能会加深您对我们不愿讨好华尔街分析师和机构投资者的理解。”“我们已经拥有了我们想要的投资者，总的来说，我认为他们不会通过替代者来升级。”</blockquote></p><p>The gradual uptick in institutional ownership, though, might already be empowering professional managers to press Berkshire on governance matters.&nbsp;When Mr. Buffett and his estate sell off his remaining shares, it is likely those money managers will hold an even bigger stake in the company, Mr. Cunningham said.</p><p><blockquote>不过，机构持股比例的逐步上升可能已经让职业经理人有能力在治理问题上向伯克希尔施压。坎宁安说，当巴菲特和他的遗产出售剩余股份时，这些基金经理很可能会持有该公司更多的股份。</blockquote></p><p>“There will be a dawning of significant leadership and structural change, and these holders are preparing for that battle,” Mr. Cunningham said.</p><p><blockquote>坎宁安表示：“重大领导力和结构性变革将会出现，这些持有者正在为这场战斗做准备。”</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>Warren Buffett Faces Impatient Investors as Berkshire Hathaway Returns Decline<blockquote>伯克希尔哈撒韦公司回报下滑，沃伦·巴菲特面临不耐烦的投资者</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\">\nWarren Buffett Faces Impatient Investors as Berkshire Hathaway Returns Decline<blockquote>伯克希尔哈撒韦公司回报下滑，沃伦·巴菲特面临不耐烦的投资者</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">WSJ</strong><span class=\"h-time small\">2021-05-02 03:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Institutional shareholders are pressing for change on climate and governance at the Omaha, Neb., conglomerate</p><p><blockquote>机构股东正在敦促这家位于内布拉斯加州奥马哈的企业集团在气候和治理方面进行变革</blockquote></p><p>Professional money managers are turning up the heat on Warren Buffett’s<u>Berkshire Hathaway</u>&nbsp;Inc.BRK.B -0.95%</p><p><blockquote>专业基金经理正在加大对沃伦·巴菲特的压力<u>伯克希尔哈撒韦</u>公司BRK.B-0.95%</blockquote></p><p>California Public Employees’ Retirement System and Neuberger Berman have demanded that the Omaha, Neb., conglomerate bring in new directors and provide more disclosures on climate risks and executive<img src=\"https://static.tigerbbs.com/1dd969e4b237144cd02112f41464d169\" tg-width=\"824\" tg-height=\"1396\" referrerpolicy=\"no-referrer\"></p><p><blockquote>加州公共雇员退休系统和路博迈要求这家位于内布拉斯加州奥马哈的企业集团引入新董事，并提供更多有关气候风险和高管的信息</blockquote></p><p>Leading up to Berkshire’s annual meeting on Saturday, proxy advisers Glass Lewis &amp; Co. and Institutional Shareholder Services Inc. have recommended that investors withhold their votes for board members.</p><p><blockquote>在周六伯克希尔年会之前，代理顾问Glass Lewis&amp;Co.和Institutional Shareholder Services Inc.建议投资者保留对董事会成员的投票。</blockquote></p><p>While many of the complaints aren’t new and none of the shareholder proposals are likely to pass, Berkshire’s lackluster returns in recent years have made it more vulnerable to criticism amid a growing wave of investor interest in corporate sustainability issues.</p><p><blockquote>尽管许多投诉并不新鲜，股东提案也不太可能获得通过，但在投资者对企业可持续发展问题的兴趣日益浓厚的情况下，伯克希尔近年来低迷的回报使其更容易受到批评。</blockquote></p><p>The shareholder movement to press companies on climate change, social progress and governance continues to gain steam in the U.S., emerging as<u>a key selling point for money managers in their efforts to keep client money</u>.</p><p><blockquote>在美国，股东就气候变化、社会进步和治理问题向公司施压的运动继续升温，<u>基金经理努力留住客户资金的一个关键卖点</u>.</blockquote></p><p>Under Mr. Buffett’s leadership,<u>the firm boasts 20% compounded annualized gains from 1965 to 2020</u>, outperforming the S&amp;P 500’s 10.2% gains including dividends during the period. Berkshire’s total returns over the past three- and five-year periods were 12% and 14%, respectively, compared with the index’s 19% and 18%.</p><p><blockquote>在巴菲特先生的领导下，<u>该公司拥有1965年至2020年20%的复合年化收益</u>，跑赢标普500期内含股息10.2%的涨幅。伯克希尔过去三年和五年的总回报率分别为12%和14%，而该指数的总回报率为19%和18%。</blockquote></p><p>“Berkshire has gotten a pass in part because of its historically strong financial performance,” said Simiso Nzima, head of corporate governance at Calpers.</p><p><blockquote>Calpers公司治理主管Simiso Nzima表示：“伯克希尔获得通过的部分原因是其历史上强劲的财务业绩。”</blockquote></p><p>Berkshire has continued to stress its continued focus on the long game. Mr. Buffett, who is chief executive and chairman of the company, built up<u>a diverse portfolio of mostly U.S. businesses and investments meant to perform over decades</u>, not to compete with a volatile market buoyed by booming tech stocks.</p><p><blockquote>伯克希尔哈撒韦公司继续强调其对长期发展的持续关注。巴菲特先生是该公司的首席执行官兼董事长，他建立了<u>主要由美国企业和投资组成的多元化投资组合，预计将持续数十年</u>，而不是与由蓬勃发展的科技股提振的波动市场竞争。</blockquote></p><p>Calpers, the nation’s largest public-pension fund with $444 billion in assets, co-sponsored a shareholder proposal imploring Berkshire to provide more disclosures on climate-related risks and opportunities.</p><p><blockquote>拥有4440亿美元资产的美国最大公共养老基金Calpers共同发起了一项股东提案，恳求伯克希尔提供更多有关气候相关风险和机遇的信息。</blockquote></p><p>The pension fund is also withholding its votes to re-elect members of the board’s audit and governance committees on grounds of failing to meet shareholder demands over climate-risk disclosures. It said it was concerned that the board lacks new members, doesn’t engage with shareholders and isn’t letting investors vote on executive pay plans.</p><p><blockquote>该养老基金还拒绝投票连任董事会审计和治理委员会成员，理由是未能满足股东对气候风险披露的要求。该公司表示，担心董事会缺乏新成员，不与股东接触，也不让投资者对高管薪酬计划进行投票。</blockquote></p><p>“If you don’t refresh the board, you don’t have a next generation of directors able to learn from the long-serving directors before they leave the board,” Mr. Nzima said.</p><p><blockquote>“如果不更新董事会，下一代董事就无法在长期任职的董事离开董事会之前向他们学习，”恩齐马先生说。</blockquote></p><p>Berkshire declined to comment ahead of the company’s Saturday meeting.</p><p><blockquote>伯克希尔拒绝在公司周六会议前发表评论。</blockquote></p><p>Neuberger, a privately held money manager with more than $429 billion in assets, also said it would vote for several shareholder-led proposals related to environmental, social and corporate-governance issues, often abbreviated as ESG.</p><p><blockquote>拥有超过4290亿美元资产的私人基金管理公司Neuberger也表示，将投票支持几项与环境、社会和公司治理问题（通常缩写为ESG）相关的股东主导的提案。</blockquote></p><p>“One would think that if companies have a responsibility to look out for the environment or deliver good on social issues and governance, that Berkshire might be a leader in these areas,” said Michelle Giordano, a Neuberger analyst who follows the company. “But it doesn’t seem like they are.”</p><p><blockquote>跟踪该公司的路博迈分析师米歇尔·佐丹奴(Michelle Giordano)表示：“人们可能会认为，如果公司有责任保护环境或在社会问题和治理方面提供良好服务，那么伯克希尔可能会成为这些领域的领导者。”“但好像不是。”</blockquote></p><p>Berkshire said in its annual proxy statement that while it agreed companies had a responsibility to manage&nbsp;climate risks, it preferred to let its various operating units commit to their own environmental policies. Mandates from a small corporate office, the company wrote, would infringe upon the autonomy that has helped those businesses thrive under Berkshire’s ownership. Berkshire Hathaway Energy, for instance, already produces<u>a sustainability report</u>.</p><p><blockquote>伯克希尔在其年度委托书中表示，虽然它同意公司有责任管理气候风险，但它更愿意让其各个运营部门致力于自己的环境政策。该公司写道，小型公司办公室的授权将侵犯帮助这些企业在伯克希尔旗下蓬勃发展的自主权。例如，伯克希尔哈撒韦能源公司已经生产<u>可持续发展报告</u>.</blockquote></p><p>Calpers has also pledged to support a proposal requiring the company to report its efforts to diversify its staff.</p><p><blockquote>Calpers还承诺支持一项提案，要求该公司报告其员工多元化的努力。</blockquote></p><p>Berkshire said the diversity-report proposal improperly suggests that “there is a standardized technique for each of Berkshire’s more than 60 operating businesses to address diversity, equity and inclusion.”</p><p><blockquote>伯克希尔表示，多元化报告提案不恰当地暗示“伯克希尔60多家运营业务中的每一家都有一种标准化技术来解决多元化、公平性和包容性问题。”</blockquote></p><p>“It would be unreasonable to ask for uniform, quantitative reporting for the purposes of comparing such dissimilar operations in different geographic locations,” Berkshire wrote.</p><p><blockquote>伯克希尔写道：“为了比较不同地理位置的此类不同业务而要求统一的定量报告是不合理的。”</blockquote></p><p>Glass Lewis and ISS recommended shareholders vote for the ESG proposals and withhold votes for certain directors.</p><p><blockquote>Glass Lewis和ISS建议股东投票支持ESG提案，并对某些董事弃权。</blockquote></p><p>“This year there’s a lot more attention given from mainstream investors on ESG issues,” said Courteney Keatinge, a senior director of ESG research at Glass Lewis.</p><p><blockquote>Glass Lewis ESG研究高级总监Courteney Keatinge表示：“今年主流投资者对ESG问题给予了更多关注。”</blockquote></p><p>Another factor is at play: Berkshire shares are slowly changing hands.</p><p><blockquote>另一个因素在起作用：伯克希尔的股票正在慢慢易手。</blockquote></p><p></p><p>Mr. Buffett’s longstanding plan to shrink his stake in the company over time has shifted more Berkshire shares to big institutional investors, said Lawrence Cunningham, a law professor at George Washington University who has written extensively about the company.</p><p><blockquote>乔治华盛顿大学法学教授劳伦斯·坎宁安(Lawrence Cunningham)撰写了大量有关该公司的文章，他表示，随着时间的推移，巴菲特减持该公司股份的长期计划已将更多伯克希尔股票转移到大型机构投资者手中。</blockquote></p><p>About 70% of Berkshire’s shares are owned by individuals, many of whom are longtime holders loyal to Mr. Buffett, Mr. Cunningham said. And many don’t care whether Berkshire lacks a corporate sustainability report or an investor-relations team at the ready to answer their questions.</p><p><blockquote>坎宁安表示，伯克希尔约70%的股票由个人持有，其中许多人是忠于巴菲特的长期持有者。许多人并不关心伯克希尔是否缺乏企业可持续发展报告或随时准备回答他们问题的投资者关系团队。</blockquote></p><p>“Berkshire’s unusual and valued family of individual shareholders may add to your understanding of our reluctance to court Wall Street analysts and institutional investors,” Mr. Buffett wrote in his most recent letter to shareholders. “We already have the investors we want and don’t think that they, on balance, would be upgraded by replacements.”</p><p><blockquote>巴菲特在最近致股东的信中写道：“伯克希尔不同寻常且有价值的个人股东家族可能会加深您对我们不愿讨好华尔街分析师和机构投资者的理解。”“我们已经拥有了我们想要的投资者，总的来说，我认为他们不会通过替代者来升级。”</blockquote></p><p>The gradual uptick in institutional ownership, though, might already be empowering professional managers to press Berkshire on governance matters.&nbsp;When Mr. Buffett and his estate sell off his remaining shares, it is likely those money managers will hold an even bigger stake in the company, Mr. Cunningham said.</p><p><blockquote>不过，机构持股比例的逐步上升可能已经让职业经理人有能力在治理问题上向伯克希尔施压。坎宁安说，当巴菲特和他的遗产出售剩余股份时，这些基金经理很可能会持有该公司更多的股份。</blockquote></p><p>“There will be a dawning of significant leadership and structural change, and these holders are preparing for that battle,” Mr. Cunningham said.</p><p><blockquote>坎宁安表示：“重大领导力和结构性变革将会出现，这些持有者正在为这场战斗做准备。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/warren-buffett-faces-impatient-investors-as-berkshire-hathaway-returns-decline-11619794480\">WSJ</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/daaa666333c3b9bf0b940ffed4c1c369","relate_stocks":{"BRK.B":"伯克希尔B"},"source_url":"https://www.wsj.com/articles/warren-buffett-faces-impatient-investors-as-berkshire-hathaway-returns-decline-11619794480","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105099718","content_text":"Institutional shareholders are pressing for change on climate and governance at the Omaha, Neb., conglomerateProfessional money managers are turning up the heat on Warren Buffett’sBerkshire Hathaway Inc.BRK.B -0.95%California Public Employees’ Retirement System and Neuberger Berman have demanded that the Omaha, Neb., conglomerate bring in new directors and provide more disclosures on climate risks and executiveLeading up to Berkshire’s annual meeting on Saturday, proxy advisers Glass Lewis & Co. and Institutional Shareholder Services Inc. have recommended that investors withhold their votes for board members.While many of the complaints aren’t new and none of the shareholder proposals are likely to pass, Berkshire’s lackluster returns in recent years have made it more vulnerable to criticism amid a growing wave of investor interest in corporate sustainability issues.The shareholder movement to press companies on climate change, social progress and governance continues to gain steam in the U.S., emerging asa key selling point for money managers in their efforts to keep client money.Under Mr. Buffett’s leadership,the firm boasts 20% compounded annualized gains from 1965 to 2020, outperforming the S&P 500’s 10.2% gains including dividends during the period. Berkshire’s total returns over the past three- and five-year periods were 12% and 14%, respectively, compared with the index’s 19% and 18%.“Berkshire has gotten a pass in part because of its historically strong financial performance,” said Simiso Nzima, head of corporate governance at Calpers.Berkshire has continued to stress its continued focus on the long game. Mr. Buffett, who is chief executive and chairman of the company, built upa diverse portfolio of mostly U.S. businesses and investments meant to perform over decades, not to compete with a volatile market buoyed by booming tech stocks.Calpers, the nation’s largest public-pension fund with $444 billion in assets, co-sponsored a shareholder proposal imploring Berkshire to provide more disclosures on climate-related risks and opportunities.The pension fund is also withholding its votes to re-elect members of the board’s audit and governance committees on grounds of failing to meet shareholder demands over climate-risk disclosures. It said it was concerned that the board lacks new members, doesn’t engage with shareholders and isn’t letting investors vote on executive pay plans.“If you don’t refresh the board, you don’t have a next generation of directors able to learn from the long-serving directors before they leave the board,” Mr. Nzima said.Berkshire declined to comment ahead of the company’s Saturday meeting.Neuberger, a privately held money manager with more than $429 billion in assets, also said it would vote for several shareholder-led proposals related to environmental, social and corporate-governance issues, often abbreviated as ESG.“One would think that if companies have a responsibility to look out for the environment or deliver good on social issues and governance, that Berkshire might be a leader in these areas,” said Michelle Giordano, a Neuberger analyst who follows the company. “But it doesn’t seem like they are.”Berkshire said in its annual proxy statement that while it agreed companies had a responsibility to manage climate risks, it preferred to let its various operating units commit to their own environmental policies. Mandates from a small corporate office, the company wrote, would infringe upon the autonomy that has helped those businesses thrive under Berkshire’s ownership. Berkshire Hathaway Energy, for instance, already producesa sustainability report.Calpers has also pledged to support a proposal requiring the company to report its efforts to diversify its staff.Berkshire said the diversity-report proposal improperly suggests that “there is a standardized technique for each of Berkshire’s more than 60 operating businesses to address diversity, equity and inclusion.”“It would be unreasonable to ask for uniform, quantitative reporting for the purposes of comparing such dissimilar operations in different geographic locations,” Berkshire wrote.Glass Lewis and ISS recommended shareholders vote for the ESG proposals and withhold votes for certain directors.“This year there’s a lot more attention given from mainstream investors on ESG issues,” said Courteney Keatinge, a senior director of ESG research at Glass Lewis.Another factor is at play: Berkshire shares are slowly changing hands.Mr. Buffett’s longstanding plan to shrink his stake in the company over time has shifted more Berkshire shares to big institutional investors, said Lawrence Cunningham, a law professor at George Washington University who has written extensively about the company.About 70% of Berkshire’s shares are owned by individuals, many of whom are longtime holders loyal to Mr. Buffett, Mr. Cunningham said. And many don’t care whether Berkshire lacks a corporate sustainability report or an investor-relations team at the ready to answer their questions.“Berkshire’s unusual and valued family of individual shareholders may add to your understanding of our reluctance to court Wall Street analysts and institutional investors,” Mr. Buffett wrote in his most recent letter to shareholders. “We already have the investors we want and don’t think that they, on balance, would be upgraded by replacements.”The gradual uptick in institutional ownership, though, might already be empowering professional managers to press Berkshire on governance matters. When Mr. Buffett and his estate sell off his remaining shares, it is likely those money managers will hold an even bigger stake in the company, Mr. Cunningham said.“There will be a dawning of significant leadership and structural change, and these holders are preparing for that battle,” Mr. Cunningham said.","news_type":1,"symbols_score_info":{"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":360,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346496008,"gmtCreate":1618099186904,"gmtModify":1634294946091,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574734648306583","idStr":"3574734648306583"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/346496008","repostId":"1142324412","repostType":4,"isVote":1,"tweetType":1,"viewCount":369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356557158,"gmtCreate":1616801378974,"gmtModify":1634523963853,"author":{"id":"3574734648306583","authorId":"3574734648306583","name":"JL45","avatar":"https://static.tigerbbs.com/52101cbf96bd0268389e8f5a50aa1c5c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574734648306583","idStr":"3574734648306583"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/356557158","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","kind":"news","pubTimestamp":1616772179,"share":"https://www.laohu8.com/m/news/1111192234?lang=zh_CN&edition=full","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要以两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</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\">\nTesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉交付即将到来。它们比以往任何时候都重要。这是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 23:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度再过几天就结束了。这意味着汽车制造商的更多交付数据即将发布。对于投资者来说，这些数字将比平时更重要。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等估值高、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车(GM)和福特汽车(F)最近都意外停工，并称芯片问题是2021年10亿美元利润的阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到了这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给特斯拉或任何其他快速增长的电动汽车制造商一个通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不仁慈。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>电动汽车制造商蔚来（蔚来）将第一季度交付量指引从约20,250辆下调至约19,500辆，该公司股价在周五交易中下跌超过6%。蔚来管理层以芯片短缺为由，将从3月29日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉，华尔街正在寻找3月份交付的约16.2万辆汽车。这低于峰值估计的约183,000辆。分析师似乎正在减少数量，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约18.1万辆汽车。分析师预计2021年全年汽车交付量将接近80万辆，同比增长约60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>RBC分析师Joe Spak预测第一季度交付量为17万辆，同比增长90%以上。他还预测，本季度特斯拉将在加州生产96,000辆汽车，在中国生产74,000辆汽车。斯帕克在周四的一份报告中写道：“共识[估计]看起来基本合理。”“我们确实在寻找最新消息，以了解semi短缺如何影响特斯拉——就像它对行业其他部门一样。”他认为，由于芯片的原因，预期存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak将特斯拉股票评级为持有，目标价为725美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。利率上升主要以两种方式影响成长型股票。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在遥远的未来产生的。相对而言，当投资者今天可以用现金赚取更高的利率时，现金流的价值就会低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在2020年上涨超过740%后，今年迄今已下跌约10%。周五早盘交易中，股价下跌0.9%，至634.40美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. 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