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SEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC提起首起DeFi未注册证券诉讼</blockquote>
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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":1640874762,"share":"https://www.laohu8.com/m/news/1121842221?lang=zh_CN&edition=full","pubTime":"2021-12-30 22:32","market":"us","language":"en","title":"Stocks Rise as Dow and S&P 500 Aim to Build on Records<blockquote>道琼斯指数和标普500的目标是再创历史新高，股市上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1121842221","media":"Tiger Newspress","summary":"U.S. stocks rose Thursday after the S&P 500 and Dow Jones Industrial Average reached new record high","content":"<p><html><head></head><body>U.S. stocks rose Thursday after the S&P 500 and Dow Jones Industrial Average reached new record highs in the previous session.</p><p><blockquote><html><head></head><body>美国股市周四上涨，此前标普500和道琼斯工业平均指数在前一交易日创下历史新高。</body></html></blockquote></p><p>The Dow Jones Industrial Average gained about 150 points. The S&P 500 rose 0.2%. The Nasdaq Composite ticked up 0.2%.</p><p><blockquote>道琼斯工业平均指数上涨约150点。标普500上涨0.2%。纳斯达克综合指数上涨0.2%。</blockquote></p><p>Thursday is the second-last trading session of 2021. The end of the year is a historically strong period for stocks, which has been dubbed the “Santa Claus rally.”</p><p><blockquote>周四是2021年倒数第二个交易日。年底是股市历史上的强势时期，被称为“圣诞老人反弹”。</blockquote></p><p>The S&P 500 has risen during the period — the last five trading days of the year followed by the first two session in January — 78.5% of the time since 1928, according to Bank of America.</p><p><blockquote>根据美银的数据，自1928年以来，标普500在此期间（一年的最后五个交易日以及1月份的前两个交易日）上涨的时间为78.5%。</blockquote></p><p>“Santa has been good to investors this holiday season, and we look for another year of positive returns in 2022,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.</p><p><blockquote>富国银行投资研究所高级全球市场策略师Scott Wren表示：“圣诞老人在这个假期对投资者来说很好，我们期待2022年又是一年的正回报。”</blockquote></p><p>Biogen slid 6.5% in the premarket Thursday after Samsung denied a report in The Korea Economic Daily that it was in talks to buy Biogen. Biogen shares had surged 9.5% on Wednesday.</p><p><blockquote>在三星否认《韩国经济日报》有关其正在洽谈收购百健(Biogen)的报道后，百健(Biogen)周四盘前下跌6.5%。Biogen股价周三飙升9.5%。</blockquote></p><p>Jobless claims last week came in lower than expected, the Labor Department reported Thursday. Initial claims totaled 198,000 for the week ended Dec. 25, while economists surveyed by Dow Jones projected 205,000.</p><p><blockquote>美国劳工部周四报告称，上周申请失业救济人数低于预期。截至12月25日当周，初请失业金人数总计198,000人，而道琼斯调查的经济学家预计为205,000人。</blockquote></p><p>On Wednesday the S&P 500 posted its 70th record close of the year. This year has seen the second-highest number of record closes for the benchmark index during a calendar year, trailing just 1995′s 77 record closing highs. The Dow also closed at its first high since November and saw its sixth-straight positive session.</p><p><blockquote>周三，标普500公布了今年第70个收盘纪录。今年该基准指数创下历年收盘纪录数量第二高，仅次于1995年创下的77个收盘纪录高点。道琼斯指数也收于11月以来的首个高点，并连续第六个交易日上涨。</blockquote></p><p>All three major averages are in the green for December. The S&P and Dow are on pace for a second positive month in the last three, while the Nasdaq Composite is on track for a third straight month of gains.</p><p><blockquote>12月份三大股指均呈绿色。标准普尔指数和道琼斯指数有望在过去三个月中连续第二个月上涨，而纳斯达克综合指数有望连续第三个月上涨。</blockquote></p><p>For the year, the S&P is up more than 27% and the Dow is up more than 19%. The Nasdaq has gained roughly 22.3%, while the Russell 2000 is up nearly 14%.</p><p><blockquote>今年，标准普尔指数上涨了27%以上，道琼斯指数上涨了19%以上。纳斯达克上涨约22.3%，而罗素2000指数上涨近14%。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Rise as Dow and S&P 500 Aim to Build on Records<blockquote>道琼斯指数和标普500的目标是再创历史新高，股市上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Rise as Dow and S&P 500 Aim to Build on Records<blockquote>道琼斯指数和标普500的目标是再创历史新高，股市上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-30 22:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>U.S. stocks rose Thursday after the S&P 500 and Dow Jones Industrial Average reached new record highs in the previous session.</p><p><blockquote><html><head></head><body>美国股市周四上涨，此前标普500和道琼斯工业平均指数在前一交易日创下历史新高。</body></html></blockquote></p><p>The Dow Jones Industrial Average gained about 150 points. The S&P 500 rose 0.2%. The Nasdaq Composite ticked up 0.2%.</p><p><blockquote>道琼斯工业平均指数上涨约150点。标普500上涨0.2%。纳斯达克综合指数上涨0.2%。</blockquote></p><p>Thursday is the second-last trading session of 2021. The end of the year is a historically strong period for stocks, which has been dubbed the “Santa Claus rally.”</p><p><blockquote>周四是2021年倒数第二个交易日。年底是股市历史上的强势时期，被称为“圣诞老人反弹”。</blockquote></p><p>The S&P 500 has risen during the period — the last five trading days of the year followed by the first two session in January — 78.5% of the time since 1928, according to Bank of America.</p><p><blockquote>根据美银的数据，自1928年以来，标普500在此期间（一年的最后五个交易日以及1月份的前两个交易日）上涨的时间为78.5%。</blockquote></p><p>“Santa has been good to investors this holiday season, and we look for another year of positive returns in 2022,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.</p><p><blockquote>富国银行投资研究所高级全球市场策略师Scott Wren表示：“圣诞老人在这个假期对投资者来说很好，我们期待2022年又是一年的正回报。”</blockquote></p><p>Biogen slid 6.5% in the premarket Thursday after Samsung denied a report in The Korea Economic Daily that it was in talks to buy Biogen. Biogen shares had surged 9.5% on Wednesday.</p><p><blockquote>在三星否认《韩国经济日报》有关其正在洽谈收购百健(Biogen)的报道后，百健(Biogen)周四盘前下跌6.5%。Biogen股价周三飙升9.5%。</blockquote></p><p>Jobless claims last week came in lower than expected, the Labor Department reported Thursday. Initial claims totaled 198,000 for the week ended Dec. 25, while economists surveyed by Dow Jones projected 205,000.</p><p><blockquote>美国劳工部周四报告称，上周申请失业救济人数低于预期。截至12月25日当周，初请失业金人数总计198,000人，而道琼斯调查的经济学家预计为205,000人。</blockquote></p><p>On Wednesday the S&P 500 posted its 70th record close of the year. This year has seen the second-highest number of record closes for the benchmark index during a calendar year, trailing just 1995′s 77 record closing highs. The Dow also closed at its first high since November and saw its sixth-straight positive session.</p><p><blockquote>周三，标普500公布了今年第70个收盘纪录。今年该基准指数创下历年收盘纪录数量第二高，仅次于1995年创下的77个收盘纪录高点。道琼斯指数也收于11月以来的首个高点，并连续第六个交易日上涨。</blockquote></p><p>All three major averages are in the green for December. The S&P and Dow are on pace for a second positive month in the last three, while the Nasdaq Composite is on track for a third straight month of gains.</p><p><blockquote>12月份三大股指均呈绿色。标准普尔指数和道琼斯指数有望在过去三个月中连续第二个月上涨，而纳斯达克综合指数有望连续第三个月上涨。</blockquote></p><p>For the year, the S&P is up more than 27% and the Dow is up more than 19%. The Nasdaq has gained roughly 22.3%, while the Russell 2000 is up nearly 14%.</p><p><blockquote>今年，标准普尔指数上涨了27%以上，道琼斯指数上涨了19%以上。纳斯达克上涨约22.3%，而罗素2000指数上涨近14%。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121842221","content_text":"U.S. stocks rose Thursday after the S&P 500 and Dow Jones Industrial Average reached new record highs in the previous session.The Dow Jones Industrial Average gained about 150 points. The S&P 500 rose 0.2%. The Nasdaq Composite ticked up 0.2%.Thursday is the second-last trading session of 2021. The end of the year is a historically strong period for stocks, which has been dubbed the “Santa Claus rally.”The S&P 500 has risen during the period — the last five trading days of the year followed by the first two session in January — 78.5% of the time since 1928, according to Bank of America.“Santa has been good to investors this holiday season, and we look for another year of positive returns in 2022,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.Biogen slid 6.5% in the premarket Thursday after Samsung denied a report in The Korea Economic Daily that it was in talks to buy Biogen. Biogen shares had surged 9.5% on Wednesday.Jobless claims last week came in lower than expected, the Labor Department reported Thursday. Initial claims totaled 198,000 for the week ended Dec. 25, while economists surveyed by Dow Jones projected 205,000.On Wednesday the S&P 500 posted its 70th record close of the year. This year has seen the second-highest number of record closes for the benchmark index during a calendar year, trailing just 1995′s 77 record closing highs. The Dow also closed at its first high since November and saw its sixth-straight positive session.All three major averages are in the green for December. The S&P and Dow are on pace for a second positive month in the last three, while the Nasdaq Composite is on track for a third straight month of gains.For the year, the S&P is up more than 27% and the Dow is up more than 19%. The Nasdaq has gained roughly 22.3%, while the Russell 2000 is up nearly 14%.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692884415,"gmtCreate":1640916074541,"gmtModify":1640916075063,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/692884415","repostId":"1106092668","repostType":4,"repost":{"id":"1106092668","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640876653,"share":"https://www.laohu8.com/m/news/1106092668?lang=zh_CN&edition=full","pubTime":"2021-12-30 23:04","market":"us","language":"en","title":"Sea Limited Shares Jumped More Than 4% in Morning Trading<blockquote>Sea Limited股价早盘上涨逾4%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106092668","media":"Tiger Newspress","summary":"Sea Limited shares jumped more than 4% in morning trading.Also Read:Sea Limited: A Deep Dive To Unde","content":"<p><html><head></head><body>Sea Limited shares jumped more than 4% in morning trading.</p><p><blockquote><html><head></head><body>Sea Limited股价早盘上涨超过4%。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/448dcc7d589843674730e046aa6ef96a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><blockquote></blockquote></p><p><b>Also Read:</b><b>Sea Limited: A Deep Dive To Understand The Recent Selloff</b></p><p><blockquote><b>另请阅读：</b><b>Sea Limited：深入了解最近的抛售</b></blockquote></p><p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p><ul><li>Sea Limited is a highly diversified business firing on all cylinders in some of the fastest-growing economies in the world.</li><li>I dive into each of its segments to understand the recent selloff and justify the current valuation.</li><li>I consider Sea one of my ten highest conviction investments.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa5cbe0a30acc723a2c6f62300024002\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"/><span>kokkai/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>Sea Limited是一家高度多元化的企业，在世界上一些增长最快的经济体中全力以赴。</li><li>我深入研究了它的每个细分市场，以了解最近的抛售并证明当前估值的合理性。</li><li>我认为Sea是我最有信心的十项投资之一。</li></ul><p class=\"t-img-caption\"><span>kokkai/iStock未通过Getty Images发布</span></p></blockquote></p><p><b>Thesis</b></p><p><blockquote><b>论文</b></blockquote></p><p>A by-parts analysis of Sea Limited's (NYSE:SE) segments shows that its current valuation is roughly fair, but there are many long-term growth drivers that could surprise to the upside and drive very strong returns for years to come.</p><p><blockquote>对Sea Limited（纽约证券交易所股票代码：SE）部门的细分分析表明，其目前的估值大致公平，但有许多长期增长动力可能会出人意料地上涨，并在未来几年推动非常强劲的回报。</blockquote></p><p><b>Introduction</b></p><p><blockquote><b>介绍</b></blockquote></p><p>I recently wrote an article highlighting my top 10 stock picks for 2022. I'd already done an in-depth analysis of my other nine picks in other Seeking Alpha articles, so I thought it would be good to close out the year with an article about Sea.</p><p><blockquote>我最近写了一篇文章，重点介绍了我选择的2022年十大股票。我已经在其他Seeking Alpha文章中对我的其他九个选择进行了深入分析，所以我认为最好以一篇关于Sea的文章来结束这一年。</blockquote></p><p>Furthermore, with shares down significantly over the past couple of months (but still slightly up for the year), I believe this article may prove timely. I don't speculate on short-term market movements, but I personally added to my Sea shares recently. It's one of my only losing positions that I didn't sell out of temporarily for tax-loss harvesting, and in this article, I will explain why Sea is such a high conviction holding for me.</p><p><blockquote>此外，由于过去几个月股价大幅下跌（但今年仍略有上涨），我相信这篇文章可能是及时的。我不推测短期市场走势，但我个人最近增持了Sea股票。这是我唯一没有为了收获税收损失而暂时卖出的亏损头寸之一，在本文中，我将解释为什么Sea对我来说是如此坚定的持有。</blockquote></p><p>It's also worth noting that many professional investors seem to share this opinion. Sea is the 121st largest company in the world, but it's the16thmost popular holding among hedge funds. This implies that big money is overweight Sea, with 71% of shares held by institutions.</p><p><blockquote>还值得注意的是，许多专业投资者似乎也认同这一观点。Sea是全球第121大公司，但在对冲基金中排名第16位。这暗示大资金是跑赢大盘海，71%的股份被机构持有。</blockquote></p><p>Because Sea operates in many different areas, I will do a separate analysis of each of its operating segments to justify its current valuation and explain how that valuation could drive unexpectedly strong returns for years.</p><p><blockquote>由于Sea在许多不同的领域开展业务，我将对其每个运营部门进行单独分析，以证明其当前估值的合理性，并解释该估值如何在多年来推动意想不到的强劲回报。</blockquote></p><p><b>Gaming</b></p><p><blockquote><b>游戏</b></blockquote></p><p>Sea Limited's gaming segment Garena is best known for Free Fire, a mobile battle royale game that was developed in-house.</p><p><blockquote>Sea Limited的游戏部门Garena因其内部开发的移动大逃杀游戏《Free Fire》而闻名。</blockquote></p><p>The game was released in 2017 and has been very popular ever since. It currently has the second most monthly active users among all Android games globally. The game is available worldwide, but it's particularly popular in emerging markets like SEA, LATAM, and India, where it's been the highest-grossing mobile game for over two years.</p><p><blockquote>该游戏于2017年发布，此后一直非常受欢迎。它目前在全球所有安卓游戏中拥有第二大月活跃用户。这款游戏在全球范围内都有售，但在东南亚、拉美和印度等新兴市场尤其受欢迎，两年多来，它一直是这些市场票房最高的手机游戏。</blockquote></p><p>With the game having been popular for a long time already, there's some concern that gamers will move on to the next big thing. Although there are some mobile games that are older than Free Fire and still very popular - like Roblox, Clash of Clans, and Pokemon Go - there are many more that have been forgotten. Until Garena releases more games and proves that it can be successful with them too, there will always be questions about whether its studio is a one-hit wonder.</p><p><blockquote>随着这款游戏已经流行了很长时间，有人担心游戏玩家会转向下一件大事。虽然有一些手机游戏比Free Fire更古老，但仍然非常受欢迎——如Roblox、Clash of Clans和Pokemon Go——但还有更多已经被遗忘。在Garena发布更多游戏并证明它也可以在这些游戏上取得成功之前，总会有人质疑它的工作室是否是一个昙花一现的奇迹。</blockquote></p><p>Regardless, Garena is a critical part of Sea because it's the only profitable segment and it doubles a social platform that provides free advertising for Sea's non-gaming products. Cross-promotion is a huge competitive advantage for Sea.</p><p><blockquote>无论如何，Garena是Sea的重要组成部分，因为它是唯一盈利的细分市场，并且它是为Sea非游戏产品提供免费广告的社交平台的两倍。交叉推广是Sea的巨大竞争优势。</blockquote></p><p>Thus, one reason for Sea's recent selloff could be the Q4 guidance implied for Garena.</p><p><blockquote>因此，Sea最近抛售的原因之一可能是Garena暗示的第四季度指引。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e299727cc28a887a36d88831aec8f53\" tg-width=\"640\" tg-height=\"334\" width=\"100%\" height=\"auto\"/><span>Source: Earnings Call Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：看涨期权收益演示</span></p></blockquote></p><p>In Q2 this year, Garena raised its guidance to $4.5B-$4.7B for 2021 bookings (up from $4.3B-$4.5B). With the first three quarters already totaling $3.5B, this implies that Q4 bookings will come in at $1.0B-$1.2B, up between 0% and 20% year over year, and likely down sequentially. This is compared to 29% growth in the most recent quarter and 44% projected growth for the full year.</p><p><blockquote>今年第二季度，Garena将2021年预订量的指导上调至45亿美元至47亿美元（高于43亿美元至45亿美元）。由于前三个季度的总预订量已经达到$3.5 B，这意味着第四季度的预订量将达到$1.0 B-$1.2 B，同比增长0%至20%，并且可能会环比下降。相比之下，最近一个季度的增长率为29%，全年预计增长率为44%。</blockquote></p><p>While 20% isn't a terrible deceleration, 0% certainly is. Even 20% growth isn't spectacular compared to the historic levels. At the 10% midpoint, Garena's growth looks more similar to that of a mature company like Activision (NASDAQ:ATVI) or Zynga (NASDAQ:ZNGA) than a fast-growing company like Roblox (NYSE:RBLX).</p><p><blockquote>虽然20%并不是一个可怕的减速，但0%肯定是。与历史水平相比，即使是20%的增长也并不引人注目。在10%的中点，Garena的增长看起来更类似于动视暴雪（纳斯达克股票代码：ATVI）或Zynga（纳斯达克股票代码：ZNGA）等成熟公司，而不是Roblox（纽约证券交易所股票代码：RBLX）等快速增长的公司。</blockquote></p><p></p><p>Garena's implied valuation should - and did - suffer as a result. While a fast-growing company like Roblox can command a high double-digit P/S multiple, Activision and Zynga trade at an average P/S multiple of just 4. Garena is slightly more profitable than them and probably has more risk to the upside, so I'll use a P/S multiple of 5 for my implied valuation. This implies a P/E of about 10 for a business growing at around 10%, which is very reasonable in today's market.</p><p><blockquote>Garena的隐含估值应该——也确实——因此受到影响。虽然像Roblox这样快速增长的公司可以获得两位数的高市盈率，但动视暴雪和Zynga的平均市盈率仅为4倍。Garena的利润比他们略高，而且可能有更大的上行风险，因此我将使用市盈率倍数5作为我的隐含估值。这意味着一家增长率在10%左右的企业的市盈率约为10，这在当今市场上是非常合理的。</blockquote></p><p>This means Garena is worth $23.5B based on the high end of management's guidance.</p><p><blockquote>这意味着根据管理层指导的高端，Garena的价值为235亿美元。</blockquote></p><p>I believe this valuation is actually conservative for a few reasons:</p><p><blockquote>我相信这个估值实际上是保守的，原因有几个：</blockquote></p><p><ul><li>Next year has tough comps and growth could re-accelerate in the following years or even next year, especially if Garena releases a new hit game. The growth rate past next quarter is not based on explicit guidance from the company, only industry forecasts.</li><li>The peer valuations I used are from companies also trading at the lower end of their valuation range for the past year.</li><li>Garena has a good track record and is continuing to invest in Free Fire. One example of this is the recently released Free Fire MAX, which improves the experience for users with higher-end phones and even adds a metaverse-like customizable map called Craftland. To me, this implies that Garena believes Free Fire is still in the earlier part of its lifecycle.</li><li>Although I'd obviously prefer that Garena develops more games in house, in the meantime it's still not a one-trick pony. In addition to Free Fire, Garena distributes games from third-party developers like Tencent (OTCMKTS:OTCPK:TCEHY). These are popular titles like League of Legends and Call of Duty, which meaningfully diversify Garena's revenue.</li></ul><b>E-Commerce</b></p><p><blockquote><ul><li>明年的竞争很艰难，增长可能会在接下来的几年甚至明年重新加速，特别是如果Garena发布一款新的热门游戏。下个季度的增长率不是基于公司的明确指导，而是基于行业预测。</li><li>我使用的同行估值来自去年交易价格也处于估值范围下限的公司。</li><li>Garena拥有良好的业绩记录，并将继续投资Free Fire。这方面的一个例子是最近发布的Free Fire MAX，它改善了高端手机用户的体验，甚至添加了一个类似元宇宙的可定制地图，称为Craftland。对我来说，这意味着Garena认为Free Fire仍处于其生命周期的早期阶段。</li><li>虽然我显然更希望Garena在内部开发更多的游戏，但与此同时，它仍然不是一匹只会一招的小马。除了Free Fire之外，Garena还发行腾讯控股(OTCMKTS：OTCPK：TCEHY)等第三方开发商的游戏。这些都是像《英雄联盟》和《使命看涨期权》这样受欢迎的游戏，它们有意义地使Garena的收入多样化。</li></ul><b>电子商务</b></blockquote></p><p>Sea's e-commerce platform Shopee is currently its big growth driver. This platform is often considered the Amazon (NASDAQ:AMZN) of Southeast Asia, and it recently expanded into more markets including Brazil.</p><p><blockquote>Sea的电子商务平台Shopee目前是其最大的增长动力。该平台通常被认为是东南亚的亚马逊（纳斯达克：AMZN），最近它扩展到包括巴西在内的更多市场。</blockquote></p><p>There's always some debate about who is really the Amazon of a region. Shopee certainly has competition, including from Alibaba's (NYSE:BABA) Lazada, Tokopedia in Indonesia, MercadoLibre (MELI) in Brazil, and even Amazon itself. With most of the competition being private or tucked away into a larger company, many of the competitors don't publish exact revenue numbers, which makes it difficult to measure the competition. Even Sea hasn't published explicit revenue numbers for some countries like Brazil.</p><p><blockquote>关于谁是一个地区真正的亚马逊，总是有一些争论。Shopee当然面临竞争，包括来自阿里巴巴-SW（NYSE：BABA）的Lazada、印度尼西亚的Tokopedia、巴西的MercadoLibre(MELI)，甚至Amazon本身。由于大多数竞争都是私人的或隐藏在更大的公司中，许多竞争对手不会公布确切的收入数字，这使得衡量竞争变得困难。就连Sea也没有公布巴西等一些国家的明确收入数据。</blockquote></p><p>One neutral source that can be assessed is the Alexa site rank, which as its name suggests ranks sites by their popularity. Keep in mind that these are ranks, so a lower score is better.</p><p><blockquote>一个可以评估的中立来源是Alexa网站排名，顾名思义，它根据网站的受欢迎程度对网站进行排名。请记住，这些都是排名，所以分数越低越好。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/180367a2b64bccebf243c5b6d8fb776a\" tg-width=\"455\" tg-height=\"353\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from Alexa</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者，编译自Alexa</span></p></blockquote></p><p>Shopee is very mobile-focused, but the above table only considers the website. To check App Store app ranks for the shopping category, we can use App Annie.</p><p><blockquote>Shopee非常专注于移动，但上表只考虑了网站。要查看购物类别的App Store应用排名，我们可以使用App Annie。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6544f014a5d70d13ee14dab0ac8b6782\" tg-width=\"422\" tg-height=\"403\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from AppAnnie</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者，编译自AppAnnie</span></p></blockquote></p><p>On the mobile side, there's no need to look at the competition because Shopee is consistently the number one shopping app in every country listed. In a mobile-first world, this bodes very well. Even on the web side, Shopee wins out except in a few specific regions like LATAM and (barely) Indonesia, which have more local competitors.</p><p><blockquote>在移动端，没有必要关注竞争，因为Shopee一直是每个国家排名第一的购物应用。在移动优先的世界里，这是个好兆头。即使在网络方面，Shopee也胜出，除了拉丁美洲和（勉强）印度尼西亚等少数特定地区，这些地区有更多的本地竞争对手。</blockquote></p><p>Of course, traffic doesn't always translate to GMV. But for a shopping app where most people will use the app to buy something, it's a decent proxy. A third party estimates that Shopee accounts for57%of all e-commerce in Southeast Asia. It's Shopee's dominance in the mobile app ranks and market share that make me consider it the Amazon of Southeast Asia.</p><p><blockquote>当然，流量并不总是转化为GMV。但对于一个大多数人都会使用该应用程序购买东西的购物应用程序来说，这是一个不错的代理。第三方估计Shopee占东南亚所有电子商务的57%。正是Shopee在移动应用排名和市场份额方面的主导地位让我认为它是东南亚的亚马逊。</blockquote></p><p>So why would a company with so much potential sell off?</p><p><blockquote>那么，为什么一家潜力如此之大的公司会抛售呢？</blockquote></p><p>After the recent earnings report, some analysts expressed concern that Shopee is branching out into other countries like Poland and Mexico before validating its business model in the current markets. In these countries, Shopee has less of a presence; it's bounced between the 3-5 spots on the Mexico App Store for shopping apps, and between spots 1 and 3 in Poland. Although analysts hate uncertainty - and the CEO's comments that they don't have a concrete measure of success in these earlier stage countries won't help with that - Shopee has a history of entering new countries successfully and I am willing to give management some time to try expanding more. After all, if they're successful, then it could drive even more unexpected growth in the future.</p><p><blockquote>在最近的财报发布后，一些分析师对Shopee在当前市场验证其商业模式之前将业务扩展到波兰和墨西哥等其他国家表示担忧。在这些国家，Shopee的影响力较小；它在墨西哥应用商店购物应用的3-5位之间波动，在波兰的1-3位之间波动。尽管分析师讨厌不确定性——而且首席执行官关于他们在这些早期国家没有具体的成功衡量标准的评论对此没有帮助——但Shopee有着成功进入新国家的历史，我愿意给管理层一些时间尝试进一步扩张。毕竟，如果他们成功了，那么它可能会在未来推动更多意想不到的增长。</blockquote></p><p></p><p>Another complaint from analysts was that the basket size (average purchase size) is trending down. While that could also have contributed to the recent selloff, it's hard to complain when the overall sales increased a lot despite a decrease in basket size.</p><p><blockquote>分析师的另一个抱怨是篮子规模（平均购买规模）呈下降趋势。虽然这也可能导致了最近的抛售，但尽管篮子规模有所下降，但当整体销售额大幅增长时，很难抱怨。</blockquote></p><p>The company raised its guidance for e-commerce again in Q3, now guiding for $5.0B-$5.2B in 2021 e-commerce revenue. That's 75%-100% growth in Q4 and about 135% growth for the year. These are much more exciting numbers than the gaming side, although the guidance still implies a slight deceleration in Q4. But compared to Amazon's $340B in 2020 e-commerce sales, Shopee looks like it's just scratched the surface. E-commerce is at only11%penetration in Southeast Asia compared to18.7%in the USA, and Southeast Asia economies are generally growing faster than the USA's.</p><p><blockquote>该公司在第三季度再次上调了电子商务指引，目前预计2021年电子商务收入为$5.0 B-$5.2 B。第四季度增长75%-100%，全年增长约135%。这些数字比游戏方面更令人兴奋，尽管指导仍然意味着第四季度略有减速。但与亚马逊2020年3400亿美元的电子商务销售额相比，Shopee看起来只是触及了表面。电子商务在东南亚的渗透率仅为11%，而美国为18.7%，东南亚经济体的增长速度普遍高于美国。</blockquote></p><p>Despite being in a blue skies industry, it's more difficult to value the e-commerce segment because it operates at a loss (whereas the gaming segment is highly profitable). Shopee's success is not guaranteed because it's not clear at this point whether the platform can become profitable while retaining its market share. Stocks like this tend to experience more volatility, which could partially explain the recent selloff.</p><p><blockquote>尽管处于蓝天行业，但对电子商务部门进行估值更加困难，因为它处于亏损状态（而游戏部门利润丰厚）。Shopee的成功并不能保证，因为目前尚不清楚该平台能否在保持市场份额的同时实现盈利。像这样的股票往往会经历更大的波动，这可以部分解释最近的抛售。</blockquote></p><p>For unprofitable software companies, I like to use the Rule of 40 to assess the business. But it's difficult to apply this rule to a more cyclical e-commerce company with naturally lower margins. Even so, it's worth noting that despite being unprofitable, Sea's Rule of 40 score of 104 is better than most SaaS companies', and also better than e-commerce peers Amazon (21), MercadoLibre (73), and Alibaba (43).</p><p><blockquote>对于不盈利的软件公司，我喜欢用40法则来评估业务。但很难将这一规则应用于利润率自然较低、周期性较强的电子商务公司。即便如此，值得注意的是，尽管没有盈利，Sea的40分（104分）优于大多数SaaS公司，也优于电子商务同行Amazon（21分）、MercadoLibre（73分）和阿里巴巴-SW（43分）。</blockquote></p><p>To understand Shopee's terminal valuation once it becomes profitable, we can look at industry peers. Amazon is one profitable and slower-growing peer, and it trades at 4x P/S. AWS pushes this number up, but Amazon's high exposure to first-party sales offsets that. Other e-commerce marketplace peers trade at similar valuations: Alibaba at 3x P/S, MercadoLibre at 9x P/S. All of these valuations are basically all-time lows.</p><p><blockquote>要了解Shopee盈利后的终端估值，我们可以看看行业同行。亚马逊是一家盈利且增长较慢的同行，其市盈率为4倍。AWS推高了这一数字，但亚马逊对第一方销售的高敞口抵消了这一影响。其他电子商务市场同行的估值类似：阿里巴巴-SW的市盈率为3倍，MercadoLibre的市盈率为9倍。所有这些估值基本上都是历史低点。</blockquote></p><p>If Shopee keeps doubling revenue over the next couple of years (which it's easily done every year since 2016), becomes profitable (which scaling up tends to help with), and will have Amazon's P/S multiple in two years, then at 16 P/S today it would trade flat for two years. But if it keeps growing much faster than Amazon over a longer period like a decade, and/or if the overall industry multiples expand to more normal historical levels, then even at 16x P/S this segment has potential upside. On the other hand, if it stops growing or never becomes profitable then investors will be very disappointed at any P/S.</p><p><blockquote>如果Shopee在未来几年内收入持续翻倍（自2016年以来每年都很容易做到），实现盈利（扩大规模往往会有所帮助），并在两年内达到亚马逊的市盈率倍数，那么今天的市盈率为16倍，它将在两年内持平。但如果它在十年等较长时间内保持比亚马逊快得多的增长速度，和/或如果整个行业市盈率扩大到更正常的历史水平，那么即使市盈率为16倍，该细分市场也有潜在的上涨空间。另一方面，如果它停止增长或永远无法盈利，那么投资者将对任何市盈率感到非常失望。</blockquote></p><p>Given this wide range of outcomes, each person is going to have their own way of valuing this segment. For me, when I look at Shopee's mobile dominance, relatively small current size, the funding coming in from Garena, and the precedent set by Amazon, Alibaba, and MercadoLibre for the sustainable long-term success of this business model, I am optimistic about this segment's future. I recognize that it's currently an unprofitable and thus risky segment, but I also see the massive potential.</p><p><blockquote>鉴于这种广泛的结果，每个人都会有自己的方式来评估这一部分。对我来说，当我看到Shopee的移动主导地位、目前相对较小的规模、来自Garena的资金以及Amazon、阿里巴巴-SW和MercadoLibre为这种商业模式的可持续长期成功树立的先例时，我对这个细分市场的未来持乐观态度。我认识到这是一个目前无利可图且存在风险的细分市场，但我也看到了巨大的潜力。</blockquote></p><p>So I am happy paying a 16x P/S multiple, which values the e-commerce segment at $83.2B. Some people will call that way too high, and those people will probably never get a chance to invest in this company, for better or for worse.</p><p><blockquote>因此，我很高兴支付16倍的市盈率，这使得电子商务部门的估值为$832亿。有些人的看涨期权太高，这些人可能永远没有机会投资这家公司，无论好坏。</blockquote></p><p>Thus, with just Garena and Shopee, I have Sea being worth $106.7B. Its current market cap is $123.1B. To account for the difference, let's look at the other parts of Sea.</p><p><blockquote>因此，仅算上Garena和Shopee，我认为Sea的价值为$1067亿。其目前的市值为$123.1 B。为了解释这种差异，让我们看看海洋的其他部分。</blockquote></p><p><b>FinTech & Investments</b></p><p><blockquote><b>金融科技与投资</b></blockquote></p><p>The easiest addition to my computed valuation is Sea's $12B cash pile, partially offset by $4B in debt. This adds some nice optionality to the company and ensures that it won't be bankrupt any time soon despite losing money with Shopee. Adding in the $8B cash difference puts my computed valuation at $114.7B, just $8.4B short of the actual valuation.</p><p><blockquote>我计算的估值中最容易增加的是Sea的120B美元现金储备，部分被40亿美元的债务抵消。这为该公司增加了一些不错的选择，并确保尽管Shopee亏损，但它不会很快破产。加上$8B现金差异，我的计算估值为$114.7 B，仅比实际估值低$8.4 B。</blockquote></p><p>Then there is Sea's FinTech arm, SeaMoney. The main product here is a mobile wallet, which was responsible for $4.6B in payment volume in the last quarter (~$20B over a year). This segment accounted for $132 million in Q3 revenue, up a whopping 818% year over year. This implies a "take rate" of 2.9%, which is even better than established FinTech companies like Visa (V). Because of this high take rate, I'm not worried about SeaMoney losing money while it scales.</p><p><blockquote>然后是Sea的金融科技部门SeaMoney。这里的主要产品是移动钱包，上个季度的支付量为46亿美元（一年约为200亿美元）。该部门第三季度收入为1.32亿美元，同比增长818%。这意味着2.9%的“采用率”，甚至比Visa(V)等老牌金融科技公司还要好。由于采用率很高，我并不担心SeaMoney在扩大规模时会亏损。</blockquote></p><p></p><p>Despite SeaMoney being a small segment, it's now reaching a point where it can be factored into the valuation. Maybe it's only worth a couple of billion, but this is just the start. Five years ago, nobody would have expected that an e-commerce platform accounting for 5% of Sea's sales would today be worth more than the gaming segment. But Sea's management - combined with Garena's ability to fund new segments and drive their viral adoption - made it happen. It's certainly not guaranteed that Sea will have the same success with FinTech, but there is precedent for it.</p><p><blockquote>尽管SeaMoney只是一个很小的细分市场，但它现在已经达到了可以纳入估值的程度。也许它只值几十亿，但这只是一个开始。五年前，没有人会想到，一个占Sea销售额5%的电子商务平台今天的价值会超过游戏领域。但Sea的管理层——加上Garena为新细分市场提供资金并推动其病毒式采用的能力——实现了这一目标。当然，不能保证Sea在金融科技方面会取得同样的成功，但这是有先例的。</blockquote></p><p>If one day this segment is worth a third or more of Sea (in 2020, FinTech accounted for 36% of MercadoLibre's revenue) then getting it for just 7% of the business today will be well worth it, even if that implies a somewhat high 16x P/S multiple for the segment today. Actually, this multiple is already lower than Visa's, Mastercard's (NYSE:MA), and Affirm's (NASDAQ:AFRM). Realistically, a segment growing at 818% year over year should probably get a higher multiple than these slower-growing companies', but we don't even need to speculate about what a fair multiple is, since we can reach Sea's current valuation by using 16x P/S in my model valuation.</p><p><blockquote>如果有一天这个细分市场的价值达到Sea的三分之一或更多（2020年，金融科技占MercadoLibre收入的36%），那么今天仅以7%的业务获得它将是非常值得的，即使这意味着今天该细分市场的市盈率为16倍。事实上，这个倍数已经低于Visa、Mastercard（纽约证券交易所股票代码：MA）和Affirm（纳斯达克股票代码：AFRM）。实际上，同比增长818%的细分市场可能应该比这些增长较慢的公司获得更高的市盈率，但我们甚至不需要猜测什么是公平市盈率，因为我们可以通过在我的模型估值中使用16倍市盈率来达到Sea当前的估值。</blockquote></p><p>One way this segment could grow even more is through the introduction of more products besides the mobile wallet. Sea noted in their recent earnings that they have started "early initiatives in other digital financial services such as buy now pay later, digital bank, and insurtech." These guys sure know how to hop on the latest high growth trend.</p><p><blockquote>这一细分市场进一步增长的一个方法是推出除移动钱包之外的更多产品。Sea在最近的财报中指出，他们已经开始“在其他数字金融服务方面采取早期举措，例如先买后付、数字银行和保险科技”。这些人肯定知道如何抓住最新的高增长趋势。</blockquote></p><p>Finally, there's the investments arm. Sea is investing in early-stage tech companies, especially in Southeast Asia. There's strong precedent for companies like Tencent (which is itself an investor in Sea) and Shopify (NYSE:SHOP) managing successful investment portfolios that ultimately factor meaningfully into their valuation. Right now Sea's investment arm is very early stage, so I don't include it in my valuation model. But it doesn't have to be factored in to justify the current share price. It's just one more area that might be worth a large part of Sea one day.</p><p><blockquote>最后是投资部门。Sea正在投资早期科技公司，尤其是在东南亚。腾讯控股（其本身就是Sea的投资者）和Shopify（纽约证券交易所股票代码：SHOP）等公司管理成功的投资组合，最终对其估值产生有意义的影响，这是有先例的。目前Sea的投资部门还处于早期阶段，因此我没有将其纳入我的估值模型中。但不一定要考虑到这一点来证明当前股价的合理性。这只是又一个有一天可能抵得上一大部分海洋的区域。</blockquote></p><p><b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p>Looking at each of Sea's segments, my valuation model indicates that Sea is fairly valued today. However, my model doesn't account for the significant optionality of the newer segments. Just like e-commerce did over the last five years, FinTech (and/or investments) could grow to become a very large part of Sea's business. With the FinTech segment currently growing at 818% year over year, it doesn't take much imagination to see how this happens. Just another year or two of growth at something close to that rate will make the FinTech arm impossible for investors to ignore.</p><p><blockquote>纵观Sea的每个细分市场，我的估值模型表明Sea目前的估值相当合理。然而，我的模型没有考虑到新细分市场的重要可选性。就像电子商务在过去五年中所做的那样，金融科技（和/或投资）可能会发展成为Sea业务的一个非常重要的部分。金融科技领域目前同比增长818%，不需要太多想象力就能看出这是如何发生的。只要再以接近这一速度增长一两年，投资者就无法忽视金融科技部门。</blockquote></p><p>This optionality combined general strength in each business has allowed Sea to post an average revenue beat of 7% over the past year. Earnings haven't been as strong, and I expect that to be the main point of contention with my valuation model, as is the case for most unprofitable companies. In particular, I expect some readers will disagree with my valuation of the e-commerce segment. But even if you drop e-commerce all the way down to 5x P/S (a multiple seen today by much slower growing e-commerce companies) that implies 54% downside from today's prices. It's a steep drop for sure, but most companies in today's market would be looking at such a decline if one were to use the most conservative valuation standards possible.</p><p><blockquote>这种选择性结合了每项业务的总体实力，使Sea在过去一年的平均收入增长了7%。盈利并没有那么强劲，我预计这将成为我的估值模型的主要争论点，就像大多数未盈利公司的情况一样。特别是，我预计一些读者会不同意我对电子商务领域的估值。但即使你将电子商务的市盈率一路降至5倍（这是当今增长缓慢得多的电子商务公司的市盈率），这也意味着比今天的价格下跌54%。这肯定是一个急剧的下跌，但如果使用最保守的估值标准，当今市场上的大多数公司都会看到这样的下跌。</blockquote></p><p>Only fast-growing companies like Sea can quickly offset such a decline with revenue growth. As a result, the businesses with the most long-term potential will hardly ever trade at the most conservative valuation possible. And Sea certainly has long-term potential. It's one of the few high-growth companies I own that I could see reaching a trillion-dollar market cap this decade.</p><p><blockquote>只有像Sea这样快速增长的公司才能用收入增长迅速抵消这种下降。因此，最具长期潜力的企业很难以最保守的估值进行交易。Sea当然具有长期潜力。这是我拥有的少数几家高增长公司之一，我认为这些公司在这十年内市值将达到万亿美元。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited Shares Jumped More Than 4% in Morning Trading<blockquote>Sea Limited股价早盘上涨逾4%</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\">\nSea Limited Shares Jumped More Than 4% in Morning Trading<blockquote>Sea Limited股价早盘上涨逾4%</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\">2021-12-30 23:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Sea Limited shares jumped more than 4% in morning trading.</p><p><blockquote><html><head></head><body>Sea Limited股价早盘上涨超过4%。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/448dcc7d589843674730e046aa6ef96a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><blockquote></blockquote></p><p><b>Also Read:</b><b>Sea Limited: A Deep Dive To Understand The Recent Selloff</b></p><p><blockquote><b>另请阅读：</b><b>Sea Limited：深入了解最近的抛售</b></blockquote></p><p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p><ul><li>Sea Limited is a highly diversified business firing on all cylinders in some of the fastest-growing economies in the world.</li><li>I dive into each of its segments to understand the recent selloff and justify the current valuation.</li><li>I consider Sea one of my ten highest conviction investments.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa5cbe0a30acc723a2c6f62300024002\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"/><span>kokkai/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>Sea Limited是一家高度多元化的企业，在世界上一些增长最快的经济体中全力以赴。</li><li>我深入研究了它的每个细分市场，以了解最近的抛售并证明当前估值的合理性。</li><li>我认为Sea是我最有信心的十项投资之一。</li></ul><p class=\"t-img-caption\"><span>kokkai/iStock未通过Getty Images发布</span></p></blockquote></p><p><b>Thesis</b></p><p><blockquote><b>论文</b></blockquote></p><p>A by-parts analysis of Sea Limited's (NYSE:SE) segments shows that its current valuation is roughly fair, but there are many long-term growth drivers that could surprise to the upside and drive very strong returns for years to come.</p><p><blockquote>对Sea Limited（纽约证券交易所股票代码：SE）部门的细分分析表明，其目前的估值大致公平，但有许多长期增长动力可能会出人意料地上涨，并在未来几年推动非常强劲的回报。</blockquote></p><p><b>Introduction</b></p><p><blockquote><b>介绍</b></blockquote></p><p>I recently wrote an article highlighting my top 10 stock picks for 2022. I'd already done an in-depth analysis of my other nine picks in other Seeking Alpha articles, so I thought it would be good to close out the year with an article about Sea.</p><p><blockquote>我最近写了一篇文章，重点介绍了我选择的2022年十大股票。我已经在其他Seeking Alpha文章中对我的其他九个选择进行了深入分析，所以我认为最好以一篇关于Sea的文章来结束这一年。</blockquote></p><p>Furthermore, with shares down significantly over the past couple of months (but still slightly up for the year), I believe this article may prove timely. I don't speculate on short-term market movements, but I personally added to my Sea shares recently. It's one of my only losing positions that I didn't sell out of temporarily for tax-loss harvesting, and in this article, I will explain why Sea is such a high conviction holding for me.</p><p><blockquote>此外，由于过去几个月股价大幅下跌（但今年仍略有上涨），我相信这篇文章可能是及时的。我不推测短期市场走势，但我个人最近增持了Sea股票。这是我唯一没有为了收获税收损失而暂时卖出的亏损头寸之一，在本文中，我将解释为什么Sea对我来说是如此坚定的持有。</blockquote></p><p>It's also worth noting that many professional investors seem to share this opinion. Sea is the 121st largest company in the world, but it's the16thmost popular holding among hedge funds. This implies that big money is overweight Sea, with 71% of shares held by institutions.</p><p><blockquote>还值得注意的是，许多专业投资者似乎也认同这一观点。Sea是全球第121大公司，但在对冲基金中排名第16位。这暗示大资金是跑赢大盘海，71%的股份被机构持有。</blockquote></p><p>Because Sea operates in many different areas, I will do a separate analysis of each of its operating segments to justify its current valuation and explain how that valuation could drive unexpectedly strong returns for years.</p><p><blockquote>由于Sea在许多不同的领域开展业务，我将对其每个运营部门进行单独分析，以证明其当前估值的合理性，并解释该估值如何在多年来推动意想不到的强劲回报。</blockquote></p><p><b>Gaming</b></p><p><blockquote><b>游戏</b></blockquote></p><p>Sea Limited's gaming segment Garena is best known for Free Fire, a mobile battle royale game that was developed in-house.</p><p><blockquote>Sea Limited的游戏部门Garena因其内部开发的移动大逃杀游戏《Free Fire》而闻名。</blockquote></p><p>The game was released in 2017 and has been very popular ever since. It currently has the second most monthly active users among all Android games globally. The game is available worldwide, but it's particularly popular in emerging markets like SEA, LATAM, and India, where it's been the highest-grossing mobile game for over two years.</p><p><blockquote>该游戏于2017年发布，此后一直非常受欢迎。它目前在全球所有安卓游戏中拥有第二大月活跃用户。这款游戏在全球范围内都有售，但在东南亚、拉美和印度等新兴市场尤其受欢迎，两年多来，它一直是这些市场票房最高的手机游戏。</blockquote></p><p>With the game having been popular for a long time already, there's some concern that gamers will move on to the next big thing. Although there are some mobile games that are older than Free Fire and still very popular - like Roblox, Clash of Clans, and Pokemon Go - there are many more that have been forgotten. Until Garena releases more games and proves that it can be successful with them too, there will always be questions about whether its studio is a one-hit wonder.</p><p><blockquote>随着这款游戏已经流行了很长时间，有人担心游戏玩家会转向下一件大事。虽然有一些手机游戏比Free Fire更古老，但仍然非常受欢迎——如Roblox、Clash of Clans和Pokemon Go——但还有更多已经被遗忘。在Garena发布更多游戏并证明它也可以在这些游戏上取得成功之前，总会有人质疑它的工作室是否是一个昙花一现的奇迹。</blockquote></p><p>Regardless, Garena is a critical part of Sea because it's the only profitable segment and it doubles a social platform that provides free advertising for Sea's non-gaming products. Cross-promotion is a huge competitive advantage for Sea.</p><p><blockquote>无论如何，Garena是Sea的重要组成部分，因为它是唯一盈利的细分市场，并且它是为Sea非游戏产品提供免费广告的社交平台的两倍。交叉推广是Sea的巨大竞争优势。</blockquote></p><p>Thus, one reason for Sea's recent selloff could be the Q4 guidance implied for Garena.</p><p><blockquote>因此，Sea最近抛售的原因之一可能是Garena暗示的第四季度指引。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e299727cc28a887a36d88831aec8f53\" tg-width=\"640\" tg-height=\"334\" width=\"100%\" height=\"auto\"/><span>Source: Earnings Call Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：看涨期权收益演示</span></p></blockquote></p><p>In Q2 this year, Garena raised its guidance to $4.5B-$4.7B for 2021 bookings (up from $4.3B-$4.5B). With the first three quarters already totaling $3.5B, this implies that Q4 bookings will come in at $1.0B-$1.2B, up between 0% and 20% year over year, and likely down sequentially. This is compared to 29% growth in the most recent quarter and 44% projected growth for the full year.</p><p><blockquote>今年第二季度，Garena将2021年预订量的指导上调至45亿美元至47亿美元（高于43亿美元至45亿美元）。由于前三个季度的总预订量已经达到$3.5 B，这意味着第四季度的预订量将达到$1.0 B-$1.2 B，同比增长0%至20%，并且可能会环比下降。相比之下，最近一个季度的增长率为29%，全年预计增长率为44%。</blockquote></p><p>While 20% isn't a terrible deceleration, 0% certainly is. Even 20% growth isn't spectacular compared to the historic levels. At the 10% midpoint, Garena's growth looks more similar to that of a mature company like Activision (NASDAQ:ATVI) or Zynga (NASDAQ:ZNGA) than a fast-growing company like Roblox (NYSE:RBLX).</p><p><blockquote>虽然20%并不是一个可怕的减速，但0%肯定是。与历史水平相比，即使是20%的增长也并不引人注目。在10%的中点，Garena的增长看起来更类似于动视暴雪（纳斯达克股票代码：ATVI）或Zynga（纳斯达克股票代码：ZNGA）等成熟公司，而不是Roblox（纽约证券交易所股票代码：RBLX）等快速增长的公司。</blockquote></p><p></p><p>Garena's implied valuation should - and did - suffer as a result. While a fast-growing company like Roblox can command a high double-digit P/S multiple, Activision and Zynga trade at an average P/S multiple of just 4. Garena is slightly more profitable than them and probably has more risk to the upside, so I'll use a P/S multiple of 5 for my implied valuation. This implies a P/E of about 10 for a business growing at around 10%, which is very reasonable in today's market.</p><p><blockquote>Garena的隐含估值应该——也确实——因此受到影响。虽然像Roblox这样快速增长的公司可以获得两位数的高市盈率，但动视暴雪和Zynga的平均市盈率仅为4倍。Garena的利润比他们略高，而且可能有更大的上行风险，因此我将使用市盈率倍数5作为我的隐含估值。这意味着一家增长率在10%左右的企业的市盈率约为10，这在当今市场上是非常合理的。</blockquote></p><p>This means Garena is worth $23.5B based on the high end of management's guidance.</p><p><blockquote>这意味着根据管理层指导的高端，Garena的价值为235亿美元。</blockquote></p><p>I believe this valuation is actually conservative for a few reasons:</p><p><blockquote>我相信这个估值实际上是保守的，原因有几个：</blockquote></p><p><ul><li>Next year has tough comps and growth could re-accelerate in the following years or even next year, especially if Garena releases a new hit game. The growth rate past next quarter is not based on explicit guidance from the company, only industry forecasts.</li><li>The peer valuations I used are from companies also trading at the lower end of their valuation range for the past year.</li><li>Garena has a good track record and is continuing to invest in Free Fire. One example of this is the recently released Free Fire MAX, which improves the experience for users with higher-end phones and even adds a metaverse-like customizable map called Craftland. To me, this implies that Garena believes Free Fire is still in the earlier part of its lifecycle.</li><li>Although I'd obviously prefer that Garena develops more games in house, in the meantime it's still not a one-trick pony. In addition to Free Fire, Garena distributes games from third-party developers like Tencent (OTCMKTS:OTCPK:TCEHY). These are popular titles like League of Legends and Call of Duty, which meaningfully diversify Garena's revenue.</li></ul><b>E-Commerce</b></p><p><blockquote><ul><li>明年的竞争很艰难，增长可能会在接下来的几年甚至明年重新加速，特别是如果Garena发布一款新的热门游戏。下个季度的增长率不是基于公司的明确指导，而是基于行业预测。</li><li>我使用的同行估值来自去年交易价格也处于估值范围下限的公司。</li><li>Garena拥有良好的业绩记录，并将继续投资Free Fire。这方面的一个例子是最近发布的Free Fire MAX，它改善了高端手机用户的体验，甚至添加了一个类似元宇宙的可定制地图，称为Craftland。对我来说，这意味着Garena认为Free Fire仍处于其生命周期的早期阶段。</li><li>虽然我显然更希望Garena在内部开发更多的游戏，但与此同时，它仍然不是一匹只会一招的小马。除了Free Fire之外，Garena还发行腾讯控股(OTCMKTS：OTCPK：TCEHY)等第三方开发商的游戏。这些都是像《英雄联盟》和《使命看涨期权》这样受欢迎的游戏，它们有意义地使Garena的收入多样化。</li></ul><b>电子商务</b></blockquote></p><p>Sea's e-commerce platform Shopee is currently its big growth driver. This platform is often considered the Amazon (NASDAQ:AMZN) of Southeast Asia, and it recently expanded into more markets including Brazil.</p><p><blockquote>Sea的电子商务平台Shopee目前是其最大的增长动力。该平台通常被认为是东南亚的亚马逊（纳斯达克：AMZN），最近它扩展到包括巴西在内的更多市场。</blockquote></p><p>There's always some debate about who is really the Amazon of a region. Shopee certainly has competition, including from Alibaba's (NYSE:BABA) Lazada, Tokopedia in Indonesia, MercadoLibre (MELI) in Brazil, and even Amazon itself. With most of the competition being private or tucked away into a larger company, many of the competitors don't publish exact revenue numbers, which makes it difficult to measure the competition. Even Sea hasn't published explicit revenue numbers for some countries like Brazil.</p><p><blockquote>关于谁是一个地区真正的亚马逊，总是有一些争论。Shopee当然面临竞争，包括来自阿里巴巴-SW（NYSE：BABA）的Lazada、印度尼西亚的Tokopedia、巴西的MercadoLibre(MELI)，甚至Amazon本身。由于大多数竞争都是私人的或隐藏在更大的公司中，许多竞争对手不会公布确切的收入数字，这使得衡量竞争变得困难。就连Sea也没有公布巴西等一些国家的明确收入数据。</blockquote></p><p>One neutral source that can be assessed is the Alexa site rank, which as its name suggests ranks sites by their popularity. Keep in mind that these are ranks, so a lower score is better.</p><p><blockquote>一个可以评估的中立来源是Alexa网站排名，顾名思义，它根据网站的受欢迎程度对网站进行排名。请记住，这些都是排名，所以分数越低越好。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/180367a2b64bccebf243c5b6d8fb776a\" tg-width=\"455\" tg-height=\"353\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from Alexa</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者，编译自Alexa</span></p></blockquote></p><p>Shopee is very mobile-focused, but the above table only considers the website. To check App Store app ranks for the shopping category, we can use App Annie.</p><p><blockquote>Shopee非常专注于移动，但上表只考虑了网站。要查看购物类别的App Store应用排名，我们可以使用App Annie。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6544f014a5d70d13ee14dab0ac8b6782\" tg-width=\"422\" tg-height=\"403\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from AppAnnie</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者，编译自AppAnnie</span></p></blockquote></p><p>On the mobile side, there's no need to look at the competition because Shopee is consistently the number one shopping app in every country listed. In a mobile-first world, this bodes very well. Even on the web side, Shopee wins out except in a few specific regions like LATAM and (barely) Indonesia, which have more local competitors.</p><p><blockquote>在移动端，没有必要关注竞争，因为Shopee一直是每个国家排名第一的购物应用。在移动优先的世界里，这是个好兆头。即使在网络方面，Shopee也胜出，除了拉丁美洲和（勉强）印度尼西亚等少数特定地区，这些地区有更多的本地竞争对手。</blockquote></p><p>Of course, traffic doesn't always translate to GMV. But for a shopping app where most people will use the app to buy something, it's a decent proxy. A third party estimates that Shopee accounts for57%of all e-commerce in Southeast Asia. It's Shopee's dominance in the mobile app ranks and market share that make me consider it the Amazon of Southeast Asia.</p><p><blockquote>当然，流量并不总是转化为GMV。但对于一个大多数人都会使用该应用程序购买东西的购物应用程序来说，这是一个不错的代理。第三方估计Shopee占东南亚所有电子商务的57%。正是Shopee在移动应用排名和市场份额方面的主导地位让我认为它是东南亚的亚马逊。</blockquote></p><p>So why would a company with so much potential sell off?</p><p><blockquote>那么，为什么一家潜力如此之大的公司会抛售呢？</blockquote></p><p>After the recent earnings report, some analysts expressed concern that Shopee is branching out into other countries like Poland and Mexico before validating its business model in the current markets. In these countries, Shopee has less of a presence; it's bounced between the 3-5 spots on the Mexico App Store for shopping apps, and between spots 1 and 3 in Poland. Although analysts hate uncertainty - and the CEO's comments that they don't have a concrete measure of success in these earlier stage countries won't help with that - Shopee has a history of entering new countries successfully and I am willing to give management some time to try expanding more. After all, if they're successful, then it could drive even more unexpected growth in the future.</p><p><blockquote>在最近的财报发布后，一些分析师对Shopee在当前市场验证其商业模式之前将业务扩展到波兰和墨西哥等其他国家表示担忧。在这些国家，Shopee的影响力较小；它在墨西哥应用商店购物应用的3-5位之间波动，在波兰的1-3位之间波动。尽管分析师讨厌不确定性——而且首席执行官关于他们在这些早期国家没有具体的成功衡量标准的评论对此没有帮助——但Shopee有着成功进入新国家的历史，我愿意给管理层一些时间尝试进一步扩张。毕竟，如果他们成功了，那么它可能会在未来推动更多意想不到的增长。</blockquote></p><p></p><p>Another complaint from analysts was that the basket size (average purchase size) is trending down. While that could also have contributed to the recent selloff, it's hard to complain when the overall sales increased a lot despite a decrease in basket size.</p><p><blockquote>分析师的另一个抱怨是篮子规模（平均购买规模）呈下降趋势。虽然这也可能导致了最近的抛售，但尽管篮子规模有所下降，但当整体销售额大幅增长时，很难抱怨。</blockquote></p><p>The company raised its guidance for e-commerce again in Q3, now guiding for $5.0B-$5.2B in 2021 e-commerce revenue. That's 75%-100% growth in Q4 and about 135% growth for the year. These are much more exciting numbers than the gaming side, although the guidance still implies a slight deceleration in Q4. But compared to Amazon's $340B in 2020 e-commerce sales, Shopee looks like it's just scratched the surface. E-commerce is at only11%penetration in Southeast Asia compared to18.7%in the USA, and Southeast Asia economies are generally growing faster than the USA's.</p><p><blockquote>该公司在第三季度再次上调了电子商务指引，目前预计2021年电子商务收入为$5.0 B-$5.2 B。第四季度增长75%-100%，全年增长约135%。这些数字比游戏方面更令人兴奋，尽管指导仍然意味着第四季度略有减速。但与亚马逊2020年3400亿美元的电子商务销售额相比，Shopee看起来只是触及了表面。电子商务在东南亚的渗透率仅为11%，而美国为18.7%，东南亚经济体的增长速度普遍高于美国。</blockquote></p><p>Despite being in a blue skies industry, it's more difficult to value the e-commerce segment because it operates at a loss (whereas the gaming segment is highly profitable). Shopee's success is not guaranteed because it's not clear at this point whether the platform can become profitable while retaining its market share. Stocks like this tend to experience more volatility, which could partially explain the recent selloff.</p><p><blockquote>尽管处于蓝天行业，但对电子商务部门进行估值更加困难，因为它处于亏损状态（而游戏部门利润丰厚）。Shopee的成功并不能保证，因为目前尚不清楚该平台能否在保持市场份额的同时实现盈利。像这样的股票往往会经历更大的波动，这可以部分解释最近的抛售。</blockquote></p><p>For unprofitable software companies, I like to use the Rule of 40 to assess the business. But it's difficult to apply this rule to a more cyclical e-commerce company with naturally lower margins. Even so, it's worth noting that despite being unprofitable, Sea's Rule of 40 score of 104 is better than most SaaS companies', and also better than e-commerce peers Amazon (21), MercadoLibre (73), and Alibaba (43).</p><p><blockquote>对于不盈利的软件公司，我喜欢用40法则来评估业务。但很难将这一规则应用于利润率自然较低、周期性较强的电子商务公司。即便如此，值得注意的是，尽管没有盈利，Sea的40分（104分）优于大多数SaaS公司，也优于电子商务同行Amazon（21分）、MercadoLibre（73分）和阿里巴巴-SW（43分）。</blockquote></p><p>To understand Shopee's terminal valuation once it becomes profitable, we can look at industry peers. Amazon is one profitable and slower-growing peer, and it trades at 4x P/S. AWS pushes this number up, but Amazon's high exposure to first-party sales offsets that. Other e-commerce marketplace peers trade at similar valuations: Alibaba at 3x P/S, MercadoLibre at 9x P/S. All of these valuations are basically all-time lows.</p><p><blockquote>要了解Shopee盈利后的终端估值，我们可以看看行业同行。亚马逊是一家盈利且增长较慢的同行，其市盈率为4倍。AWS推高了这一数字，但亚马逊对第一方销售的高敞口抵消了这一影响。其他电子商务市场同行的估值类似：阿里巴巴-SW的市盈率为3倍，MercadoLibre的市盈率为9倍。所有这些估值基本上都是历史低点。</blockquote></p><p>If Shopee keeps doubling revenue over the next couple of years (which it's easily done every year since 2016), becomes profitable (which scaling up tends to help with), and will have Amazon's P/S multiple in two years, then at 16 P/S today it would trade flat for two years. But if it keeps growing much faster than Amazon over a longer period like a decade, and/or if the overall industry multiples expand to more normal historical levels, then even at 16x P/S this segment has potential upside. On the other hand, if it stops growing or never becomes profitable then investors will be very disappointed at any P/S.</p><p><blockquote>如果Shopee在未来几年内收入持续翻倍（自2016年以来每年都很容易做到），实现盈利（扩大规模往往会有所帮助），并在两年内达到亚马逊的市盈率倍数，那么今天的市盈率为16倍，它将在两年内持平。但如果它在十年等较长时间内保持比亚马逊快得多的增长速度，和/或如果整个行业市盈率扩大到更正常的历史水平，那么即使市盈率为16倍，该细分市场也有潜在的上涨空间。另一方面，如果它停止增长或永远无法盈利，那么投资者将对任何市盈率感到非常失望。</blockquote></p><p>Given this wide range of outcomes, each person is going to have their own way of valuing this segment. For me, when I look at Shopee's mobile dominance, relatively small current size, the funding coming in from Garena, and the precedent set by Amazon, Alibaba, and MercadoLibre for the sustainable long-term success of this business model, I am optimistic about this segment's future. I recognize that it's currently an unprofitable and thus risky segment, but I also see the massive potential.</p><p><blockquote>鉴于这种广泛的结果，每个人都会有自己的方式来评估这一部分。对我来说，当我看到Shopee的移动主导地位、目前相对较小的规模、来自Garena的资金以及Amazon、阿里巴巴-SW和MercadoLibre为这种商业模式的可持续长期成功树立的先例时，我对这个细分市场的未来持乐观态度。我认识到这是一个目前无利可图且存在风险的细分市场，但我也看到了巨大的潜力。</blockquote></p><p>So I am happy paying a 16x P/S multiple, which values the e-commerce segment at $83.2B. Some people will call that way too high, and those people will probably never get a chance to invest in this company, for better or for worse.</p><p><blockquote>因此，我很高兴支付16倍的市盈率，这使得电子商务部门的估值为$832亿。有些人的看涨期权太高，这些人可能永远没有机会投资这家公司，无论好坏。</blockquote></p><p>Thus, with just Garena and Shopee, I have Sea being worth $106.7B. Its current market cap is $123.1B. To account for the difference, let's look at the other parts of Sea.</p><p><blockquote>因此，仅算上Garena和Shopee，我认为Sea的价值为$1067亿。其目前的市值为$123.1 B。为了解释这种差异，让我们看看海洋的其他部分。</blockquote></p><p><b>FinTech & Investments</b></p><p><blockquote><b>金融科技与投资</b></blockquote></p><p>The easiest addition to my computed valuation is Sea's $12B cash pile, partially offset by $4B in debt. This adds some nice optionality to the company and ensures that it won't be bankrupt any time soon despite losing money with Shopee. Adding in the $8B cash difference puts my computed valuation at $114.7B, just $8.4B short of the actual valuation.</p><p><blockquote>我计算的估值中最容易增加的是Sea的120B美元现金储备，部分被40亿美元的债务抵消。这为该公司增加了一些不错的选择，并确保尽管Shopee亏损，但它不会很快破产。加上$8B现金差异，我的计算估值为$114.7 B，仅比实际估值低$8.4 B。</blockquote></p><p>Then there is Sea's FinTech arm, SeaMoney. The main product here is a mobile wallet, which was responsible for $4.6B in payment volume in the last quarter (~$20B over a year). This segment accounted for $132 million in Q3 revenue, up a whopping 818% year over year. This implies a "take rate" of 2.9%, which is even better than established FinTech companies like Visa (V). Because of this high take rate, I'm not worried about SeaMoney losing money while it scales.</p><p><blockquote>然后是Sea的金融科技部门SeaMoney。这里的主要产品是移动钱包，上个季度的支付量为46亿美元（一年约为200亿美元）。该部门第三季度收入为1.32亿美元，同比增长818%。这意味着2.9%的“采用率”，甚至比Visa(V)等老牌金融科技公司还要好。由于采用率很高，我并不担心SeaMoney在扩大规模时会亏损。</blockquote></p><p></p><p>Despite SeaMoney being a small segment, it's now reaching a point where it can be factored into the valuation. Maybe it's only worth a couple of billion, but this is just the start. Five years ago, nobody would have expected that an e-commerce platform accounting for 5% of Sea's sales would today be worth more than the gaming segment. But Sea's management - combined with Garena's ability to fund new segments and drive their viral adoption - made it happen. It's certainly not guaranteed that Sea will have the same success with FinTech, but there is precedent for it.</p><p><blockquote>尽管SeaMoney只是一个很小的细分市场，但它现在已经达到了可以纳入估值的程度。也许它只值几十亿，但这只是一个开始。五年前，没有人会想到，一个占Sea销售额5%的电子商务平台今天的价值会超过游戏领域。但Sea的管理层——加上Garena为新细分市场提供资金并推动其病毒式采用的能力——实现了这一目标。当然，不能保证Sea在金融科技方面会取得同样的成功，但这是有先例的。</blockquote></p><p>If one day this segment is worth a third or more of Sea (in 2020, FinTech accounted for 36% of MercadoLibre's revenue) then getting it for just 7% of the business today will be well worth it, even if that implies a somewhat high 16x P/S multiple for the segment today. Actually, this multiple is already lower than Visa's, Mastercard's (NYSE:MA), and Affirm's (NASDAQ:AFRM). Realistically, a segment growing at 818% year over year should probably get a higher multiple than these slower-growing companies', but we don't even need to speculate about what a fair multiple is, since we can reach Sea's current valuation by using 16x P/S in my model valuation.</p><p><blockquote>如果有一天这个细分市场的价值达到Sea的三分之一或更多（2020年，金融科技占MercadoLibre收入的36%），那么今天仅以7%的业务获得它将是非常值得的，即使这意味着今天该细分市场的市盈率为16倍。事实上，这个倍数已经低于Visa、Mastercard（纽约证券交易所股票代码：MA）和Affirm（纳斯达克股票代码：AFRM）。实际上，同比增长818%的细分市场可能应该比这些增长较慢的公司获得更高的市盈率，但我们甚至不需要猜测什么是公平市盈率，因为我们可以通过在我的模型估值中使用16倍市盈率来达到Sea当前的估值。</blockquote></p><p>One way this segment could grow even more is through the introduction of more products besides the mobile wallet. Sea noted in their recent earnings that they have started "early initiatives in other digital financial services such as buy now pay later, digital bank, and insurtech." These guys sure know how to hop on the latest high growth trend.</p><p><blockquote>这一细分市场进一步增长的一个方法是推出除移动钱包之外的更多产品。Sea在最近的财报中指出，他们已经开始“在其他数字金融服务方面采取早期举措，例如先买后付、数字银行和保险科技”。这些人肯定知道如何抓住最新的高增长趋势。</blockquote></p><p>Finally, there's the investments arm. Sea is investing in early-stage tech companies, especially in Southeast Asia. There's strong precedent for companies like Tencent (which is itself an investor in Sea) and Shopify (NYSE:SHOP) managing successful investment portfolios that ultimately factor meaningfully into their valuation. Right now Sea's investment arm is very early stage, so I don't include it in my valuation model. But it doesn't have to be factored in to justify the current share price. It's just one more area that might be worth a large part of Sea one day.</p><p><blockquote>最后是投资部门。Sea正在投资早期科技公司，尤其是在东南亚。腾讯控股（其本身就是Sea的投资者）和Shopify（纽约证券交易所股票代码：SHOP）等公司管理成功的投资组合，最终对其估值产生有意义的影响，这是有先例的。目前Sea的投资部门还处于早期阶段，因此我没有将其纳入我的估值模型中。但不一定要考虑到这一点来证明当前股价的合理性。这只是又一个有一天可能抵得上一大部分海洋的区域。</blockquote></p><p><b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p>Looking at each of Sea's segments, my valuation model indicates that Sea is fairly valued today. However, my model doesn't account for the significant optionality of the newer segments. Just like e-commerce did over the last five years, FinTech (and/or investments) could grow to become a very large part of Sea's business. With the FinTech segment currently growing at 818% year over year, it doesn't take much imagination to see how this happens. Just another year or two of growth at something close to that rate will make the FinTech arm impossible for investors to ignore.</p><p><blockquote>纵观Sea的每个细分市场，我的估值模型表明Sea目前的估值相当合理。然而，我的模型没有考虑到新细分市场的重要可选性。就像电子商务在过去五年中所做的那样，金融科技（和/或投资）可能会发展成为Sea业务的一个非常重要的部分。金融科技领域目前同比增长818%，不需要太多想象力就能看出这是如何发生的。只要再以接近这一速度增长一两年，投资者就无法忽视金融科技部门。</blockquote></p><p>This optionality combined general strength in each business has allowed Sea to post an average revenue beat of 7% over the past year. Earnings haven't been as strong, and I expect that to be the main point of contention with my valuation model, as is the case for most unprofitable companies. In particular, I expect some readers will disagree with my valuation of the e-commerce segment. But even if you drop e-commerce all the way down to 5x P/S (a multiple seen today by much slower growing e-commerce companies) that implies 54% downside from today's prices. It's a steep drop for sure, but most companies in today's market would be looking at such a decline if one were to use the most conservative valuation standards possible.</p><p><blockquote>这种选择性结合了每项业务的总体实力，使Sea在过去一年的平均收入增长了7%。盈利并没有那么强劲，我预计这将成为我的估值模型的主要争论点，就像大多数未盈利公司的情况一样。特别是，我预计一些读者会不同意我对电子商务领域的估值。但即使你将电子商务的市盈率一路降至5倍（这是当今增长缓慢得多的电子商务公司的市盈率），这也意味着比今天的价格下跌54%。这肯定是一个急剧的下跌，但如果使用最保守的估值标准，当今市场上的大多数公司都会看到这样的下跌。</blockquote></p><p>Only fast-growing companies like Sea can quickly offset such a decline with revenue growth. As a result, the businesses with the most long-term potential will hardly ever trade at the most conservative valuation possible. And Sea certainly has long-term potential. It's one of the few high-growth companies I own that I could see reaching a trillion-dollar market cap this decade.</p><p><blockquote>只有像Sea这样快速增长的公司才能用收入增长迅速抵消这种下降。因此，最具长期潜力的企业很难以最保守的估值进行交易。Sea当然具有长期潜力。这是我拥有的少数几家高增长公司之一，我认为这些公司在这十年内市值将达到万亿美元。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106092668","content_text":"Sea Limited shares jumped more than 4% in morning trading.Also Read:Sea Limited: A Deep Dive To Understand The Recent SelloffSummarySea Limited is a highly diversified business firing on all cylinders in some of the fastest-growing economies in the world.I dive into each of its segments to understand the recent selloff and justify the current valuation.I consider Sea one of my ten highest conviction investments.kokkai/iStock Unreleased via Getty ImagesThesisA by-parts analysis of Sea Limited's (NYSE:SE) segments shows that its current valuation is roughly fair, but there are many long-term growth drivers that could surprise to the upside and drive very strong returns for years to come.IntroductionI recently wrote an article highlighting my top 10 stock picks for 2022. I'd already done an in-depth analysis of my other nine picks in other Seeking Alpha articles, so I thought it would be good to close out the year with an article about Sea.Furthermore, with shares down significantly over the past couple of months (but still slightly up for the year), I believe this article may prove timely. I don't speculate on short-term market movements, but I personally added to my Sea shares recently. It's one of my only losing positions that I didn't sell out of temporarily for tax-loss harvesting, and in this article, I will explain why Sea is such a high conviction holding for me.It's also worth noting that many professional investors seem to share this opinion. Sea is the 121st largest company in the world, but it's the16thmost popular holding among hedge funds. This implies that big money is overweight Sea, with 71% of shares held by institutions.Because Sea operates in many different areas, I will do a separate analysis of each of its operating segments to justify its current valuation and explain how that valuation could drive unexpectedly strong returns for years.GamingSea Limited's gaming segment Garena is best known for Free Fire, a mobile battle royale game that was developed in-house.The game was released in 2017 and has been very popular ever since. It currently has the second most monthly active users among all Android games globally. The game is available worldwide, but it's particularly popular in emerging markets like SEA, LATAM, and India, where it's been the highest-grossing mobile game for over two years.With the game having been popular for a long time already, there's some concern that gamers will move on to the next big thing. Although there are some mobile games that are older than Free Fire and still very popular - like Roblox, Clash of Clans, and Pokemon Go - there are many more that have been forgotten. Until Garena releases more games and proves that it can be successful with them too, there will always be questions about whether its studio is a one-hit wonder.Regardless, Garena is a critical part of Sea because it's the only profitable segment and it doubles a social platform that provides free advertising for Sea's non-gaming products. Cross-promotion is a huge competitive advantage for Sea.Thus, one reason for Sea's recent selloff could be the Q4 guidance implied for Garena.Source: Earnings Call PresentationIn Q2 this year, Garena raised its guidance to $4.5B-$4.7B for 2021 bookings (up from $4.3B-$4.5B). With the first three quarters already totaling $3.5B, this implies that Q4 bookings will come in at $1.0B-$1.2B, up between 0% and 20% year over year, and likely down sequentially. This is compared to 29% growth in the most recent quarter and 44% projected growth for the full year.While 20% isn't a terrible deceleration, 0% certainly is. Even 20% growth isn't spectacular compared to the historic levels. At the 10% midpoint, Garena's growth looks more similar to that of a mature company like Activision (NASDAQ:ATVI) or Zynga (NASDAQ:ZNGA) than a fast-growing company like Roblox (NYSE:RBLX).Garena's implied valuation should - and did - suffer as a result. While a fast-growing company like Roblox can command a high double-digit P/S multiple, Activision and Zynga trade at an average P/S multiple of just 4. Garena is slightly more profitable than them and probably has more risk to the upside, so I'll use a P/S multiple of 5 for my implied valuation. This implies a P/E of about 10 for a business growing at around 10%, which is very reasonable in today's market.This means Garena is worth $23.5B based on the high end of management's guidance.I believe this valuation is actually conservative for a few reasons:Next year has tough comps and growth could re-accelerate in the following years or even next year, especially if Garena releases a new hit game. The growth rate past next quarter is not based on explicit guidance from the company, only industry forecasts.The peer valuations I used are from companies also trading at the lower end of their valuation range for the past year.Garena has a good track record and is continuing to invest in Free Fire. One example of this is the recently released Free Fire MAX, which improves the experience for users with higher-end phones and even adds a metaverse-like customizable map called Craftland. To me, this implies that Garena believes Free Fire is still in the earlier part of its lifecycle.Although I'd obviously prefer that Garena develops more games in house, in the meantime it's still not a one-trick pony. In addition to Free Fire, Garena distributes games from third-party developers like Tencent (OTCMKTS:OTCPK:TCEHY). These are popular titles like League of Legends and Call of Duty, which meaningfully diversify Garena's revenue.E-CommerceSea's e-commerce platform Shopee is currently its big growth driver. This platform is often considered the Amazon (NASDAQ:AMZN) of Southeast Asia, and it recently expanded into more markets including Brazil.There's always some debate about who is really the Amazon of a region. Shopee certainly has competition, including from Alibaba's (NYSE:BABA) Lazada, Tokopedia in Indonesia, MercadoLibre (MELI) in Brazil, and even Amazon itself. With most of the competition being private or tucked away into a larger company, many of the competitors don't publish exact revenue numbers, which makes it difficult to measure the competition. Even Sea hasn't published explicit revenue numbers for some countries like Brazil.One neutral source that can be assessed is the Alexa site rank, which as its name suggests ranks sites by their popularity. Keep in mind that these are ranks, so a lower score is better.Source: The Author, compiled from AlexaShopee is very mobile-focused, but the above table only considers the website. To check App Store app ranks for the shopping category, we can use App Annie.Source: The Author, compiled from AppAnnieOn the mobile side, there's no need to look at the competition because Shopee is consistently the number one shopping app in every country listed. In a mobile-first world, this bodes very well. Even on the web side, Shopee wins out except in a few specific regions like LATAM and (barely) Indonesia, which have more local competitors.Of course, traffic doesn't always translate to GMV. But for a shopping app where most people will use the app to buy something, it's a decent proxy. A third party estimates that Shopee accounts for57%of all e-commerce in Southeast Asia. It's Shopee's dominance in the mobile app ranks and market share that make me consider it the Amazon of Southeast Asia.So why would a company with so much potential sell off?After the recent earnings report, some analysts expressed concern that Shopee is branching out into other countries like Poland and Mexico before validating its business model in the current markets. In these countries, Shopee has less of a presence; it's bounced between the 3-5 spots on the Mexico App Store for shopping apps, and between spots 1 and 3 in Poland. Although analysts hate uncertainty - and the CEO's comments that they don't have a concrete measure of success in these earlier stage countries won't help with that - Shopee has a history of entering new countries successfully and I am willing to give management some time to try expanding more. After all, if they're successful, then it could drive even more unexpected growth in the future.Another complaint from analysts was that the basket size (average purchase size) is trending down. While that could also have contributed to the recent selloff, it's hard to complain when the overall sales increased a lot despite a decrease in basket size.The company raised its guidance for e-commerce again in Q3, now guiding for $5.0B-$5.2B in 2021 e-commerce revenue. That's 75%-100% growth in Q4 and about 135% growth for the year. These are much more exciting numbers than the gaming side, although the guidance still implies a slight deceleration in Q4. But compared to Amazon's $340B in 2020 e-commerce sales, Shopee looks like it's just scratched the surface. E-commerce is at only11%penetration in Southeast Asia compared to18.7%in the USA, and Southeast Asia economies are generally growing faster than the USA's.Despite being in a blue skies industry, it's more difficult to value the e-commerce segment because it operates at a loss (whereas the gaming segment is highly profitable). Shopee's success is not guaranteed because it's not clear at this point whether the platform can become profitable while retaining its market share. Stocks like this tend to experience more volatility, which could partially explain the recent selloff.For unprofitable software companies, I like to use the Rule of 40 to assess the business. But it's difficult to apply this rule to a more cyclical e-commerce company with naturally lower margins. Even so, it's worth noting that despite being unprofitable, Sea's Rule of 40 score of 104 is better than most SaaS companies', and also better than e-commerce peers Amazon (21), MercadoLibre (73), and Alibaba (43).To understand Shopee's terminal valuation once it becomes profitable, we can look at industry peers. Amazon is one profitable and slower-growing peer, and it trades at 4x P/S. AWS pushes this number up, but Amazon's high exposure to first-party sales offsets that. Other e-commerce marketplace peers trade at similar valuations: Alibaba at 3x P/S, MercadoLibre at 9x P/S. All of these valuations are basically all-time lows.If Shopee keeps doubling revenue over the next couple of years (which it's easily done every year since 2016), becomes profitable (which scaling up tends to help with), and will have Amazon's P/S multiple in two years, then at 16 P/S today it would trade flat for two years. But if it keeps growing much faster than Amazon over a longer period like a decade, and/or if the overall industry multiples expand to more normal historical levels, then even at 16x P/S this segment has potential upside. On the other hand, if it stops growing or never becomes profitable then investors will be very disappointed at any P/S.Given this wide range of outcomes, each person is going to have their own way of valuing this segment. For me, when I look at Shopee's mobile dominance, relatively small current size, the funding coming in from Garena, and the precedent set by Amazon, Alibaba, and MercadoLibre for the sustainable long-term success of this business model, I am optimistic about this segment's future. I recognize that it's currently an unprofitable and thus risky segment, but I also see the massive potential.So I am happy paying a 16x P/S multiple, which values the e-commerce segment at $83.2B. Some people will call that way too high, and those people will probably never get a chance to invest in this company, for better or for worse.Thus, with just Garena and Shopee, I have Sea being worth $106.7B. Its current market cap is $123.1B. To account for the difference, let's look at the other parts of Sea.FinTech & InvestmentsThe easiest addition to my computed valuation is Sea's $12B cash pile, partially offset by $4B in debt. This adds some nice optionality to the company and ensures that it won't be bankrupt any time soon despite losing money with Shopee. Adding in the $8B cash difference puts my computed valuation at $114.7B, just $8.4B short of the actual valuation.Then there is Sea's FinTech arm, SeaMoney. The main product here is a mobile wallet, which was responsible for $4.6B in payment volume in the last quarter (~$20B over a year). This segment accounted for $132 million in Q3 revenue, up a whopping 818% year over year. This implies a \"take rate\" of 2.9%, which is even better than established FinTech companies like Visa (V). Because of this high take rate, I'm not worried about SeaMoney losing money while it scales.Despite SeaMoney being a small segment, it's now reaching a point where it can be factored into the valuation. Maybe it's only worth a couple of billion, but this is just the start. Five years ago, nobody would have expected that an e-commerce platform accounting for 5% of Sea's sales would today be worth more than the gaming segment. But Sea's management - combined with Garena's ability to fund new segments and drive their viral adoption - made it happen. It's certainly not guaranteed that Sea will have the same success with FinTech, but there is precedent for it.If one day this segment is worth a third or more of Sea (in 2020, FinTech accounted for 36% of MercadoLibre's revenue) then getting it for just 7% of the business today will be well worth it, even if that implies a somewhat high 16x P/S multiple for the segment today. Actually, this multiple is already lower than Visa's, Mastercard's (NYSE:MA), and Affirm's (NASDAQ:AFRM). Realistically, a segment growing at 818% year over year should probably get a higher multiple than these slower-growing companies', but we don't even need to speculate about what a fair multiple is, since we can reach Sea's current valuation by using 16x P/S in my model valuation.One way this segment could grow even more is through the introduction of more products besides the mobile wallet. Sea noted in their recent earnings that they have started \"early initiatives in other digital financial services such as buy now pay later, digital bank, and insurtech.\" These guys sure know how to hop on the latest high growth trend.Finally, there's the investments arm. Sea is investing in early-stage tech companies, especially in Southeast Asia. There's strong precedent for companies like Tencent (which is itself an investor in Sea) and Shopify (NYSE:SHOP) managing successful investment portfolios that ultimately factor meaningfully into their valuation. Right now Sea's investment arm is very early stage, so I don't include it in my valuation model. But it doesn't have to be factored in to justify the current share price. It's just one more area that might be worth a large part of Sea one day.ConclusionLooking at each of Sea's segments, my valuation model indicates that Sea is fairly valued today. However, my model doesn't account for the significant optionality of the newer segments. Just like e-commerce did over the last five years, FinTech (and/or investments) could grow to become a very large part of Sea's business. With the FinTech segment currently growing at 818% year over year, it doesn't take much imagination to see how this happens. Just another year or two of growth at something close to that rate will make the FinTech arm impossible for investors to ignore.This optionality combined general strength in each business has allowed Sea to post an average revenue beat of 7% over the past year. Earnings haven't been as strong, and I expect that to be the main point of contention with my valuation model, as is the case for most unprofitable companies. In particular, I expect some readers will disagree with my valuation of the e-commerce segment. But even if you drop e-commerce all the way down to 5x P/S (a multiple seen today by much slower growing e-commerce companies) that implies 54% downside from today's prices. It's a steep drop for sure, but most companies in today's market would be looking at such a decline if one were to use the most conservative valuation standards possible.Only fast-growing companies like Sea can quickly offset such a decline with revenue growth. As a result, the businesses with the most long-term potential will hardly ever trade at the most conservative valuation possible. And Sea certainly has long-term potential. It's one of the few high-growth companies I own that I could see reaching a trillion-dollar market cap this decade.","news_type":1,"symbols_score_info":{"SE":0.9}},"isVote":1,"tweetType":1,"viewCount":3186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692990513,"gmtCreate":1640821795160,"gmtModify":1640821796244,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/692990513","repostId":"1149988860","repostType":4,"repost":{"id":"1149988860","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640792807,"share":"https://www.laohu8.com/m/news/1149988860?lang=zh_CN&edition=full","pubTime":"2021-12-29 23:46","market":"us","language":"en","title":"Semiconductor Stocks Mixed in Morning Trading<blockquote>半导体股早盘涨跌互现</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149988860","media":"Tiger Newspress","summary":"Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AM","content":"<p><html><head></head><body>Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AMD fell more than 2%.</p><p><blockquote><html><head></head><body>半导体股早盘涨跌互现。美光科技上涨近3%，英伟达和AMD下跌超过2%。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/f4d9932e27e7be43b2a47e9900754cd6\" tg-width=\"412\" tg-height=\"177\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Semiconductor Stocks Mixed in Morning Trading<blockquote>半导体股早盘涨跌互现</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSemiconductor Stocks Mixed in Morning Trading<blockquote>半导体股早盘涨跌互现</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\">2021-12-29 23:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AMD fell more than 2%.</p><p><blockquote><html><head></head><body>半导体股早盘涨跌互现。美光科技上涨近3%，英伟达和AMD下跌超过2%。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/f4d9932e27e7be43b2a47e9900754cd6\" tg-width=\"412\" tg-height=\"177\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","NVDA":"英伟达","AMD":"美国超微公司"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149988860","content_text":"Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AMD fell more than 2%.","news_type":1,"symbols_score_info":{"AMD":0.9,"MU":0.9,"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":3266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696535053,"gmtCreate":1640732727484,"gmtModify":1640732727871,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696535053","repostId":"1125505230","repostType":4,"repost":{"id":"1125505230","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640701946,"share":"https://www.laohu8.com/m/news/1125505230?lang=zh_CN&edition=full","pubTime":"2021-12-28 22:32","market":"us","language":"en","title":"S&P 500 Ekes Out a New Record High as Traders Weigh Omicron Threat<blockquote>交易员权衡Omicron威胁，标普500勉强创下历史新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1125505230","media":"Tiger Newspress","summary":"U.S. stocks were mostly flat Tuesday as the major indexes looked to build on record highs in the fin","content":"<p>U.S. stocks were mostly flat Tuesday as the major indexes looked to build on record highs in the final week of the year.</p><p><blockquote>美国股市周二基本持平，主要股指有望在今年最后一周创下历史新高。</blockquote></p><p> The Dow Jones Industrial Average traded up 0.1%. The S&P 500 gained less than 0.1%. The Nasdaq Composite was flat.</p><p><blockquote>道琼斯工业平均指数上涨0.1%。标普500涨幅不到0.1%。纳斯达克综合指数持平。</blockquote></p><p> The move in futures comes after stocks rallied in Monday’s regular session, with the S&P 500 closing at its 69th record high of the year.</p><p><blockquote>期货走势是在周一常规交易中股市上涨之后发生的，标普500收于今年第69个历史新高。</blockquote></p><p> Markets continued to look to pandemic news for direction.</p><p><blockquote>市场继续从大流行新闻中寻找方向。</blockquote></p><p> The Centers for Disease Control and Prevention announced on Monday that it was shortening its isolation recommendation for people who test positive to five days from 10, if those people do not have symptoms.</p><p><blockquote>美国疾病控制与预防中心周一宣布，如果检测呈阳性的人没有症状，将把隔离建议从10天缩短至5天。</blockquote></p><p> Research out of South Africa also indicated that omicron infections can help boost immunity to the earlier delta strain of Covid.</p><p><blockquote>南非的研究还表明，奥密克戎感染有助于增强对早期新冠病毒delta毒株的免疫力。</blockquote></p><p> Pharmaceutical stocks dipped in early trading following the relatively optimistic news on the pandemic. Moderna slipped 1.1% and Pfizer was marginally lower in light premarket trading Tuesday morning.</p><p><blockquote>在疫情相对乐观的消息传出后，医药股早盘下跌。周二上午，Moderna股价下跌1.1%，辉瑞股价在清淡的盘前交易中小幅走低。</blockquote></p><p> Stocks dipped in late November, in part because of the rise of the omicron variant of Covid-19, but have since rebounded as governments have largely shied away from reinstating lockdowns and strict social distancing measures.</p><p><blockquote>11月下旬，股市下跌，部分原因是奥密克戎变种Covid-19的兴起，但由于各国政府基本上避免恢复封锁和严格的社交距离措施，股市随后反弹。</blockquote></p><p> Stocks tend to rise in light trading during the final days of the year, often called the “Santa Claus rally.” However, many Wall Street pros predict relatively small gains for stocks in 2022 after two strong years.</p><p><blockquote>在一年的最后几天，股市往往会在清淡的交易中上涨，通常被称为“圣诞老人反弹”。然而，许多华尔街专业人士预测，在经历了两年的强劲表现后，2022年股市涨幅相对较小。</blockquote></p><p> “If you look around Wall Street, you see very tame expectations, and it’s probably a reflection that we’re probably pretty late in the cycle,” Jim Lacamp, senior vice president at Morgan Stanley Wealth Management, said on “Closing Bell.”</p><p><blockquote>摩根士丹利财富管理公司高级副总裁吉姆·拉坎普(Jim Lacamp)在“收盘钟声”节目中表示：“如果你环顾华尔街，你会发现预期非常平淡，这可能反映出我们可能处于周期的后期。”</blockquote></p><p> For the year, the S&P 500 is up 27.6% for the year and the Nasdaq is up 23.1%. The Dow is the laggard, up 18.6%.</p><p><blockquote>今年，标普500上涨27.6%，纳斯达克上涨23.1%。道琼斯指数表现落后，上涨18.6%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 Ekes Out a New Record High as Traders Weigh Omicron Threat<blockquote>交易员权衡Omicron威胁，标普500勉强创下历史新高</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; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 Ekes Out a New Record High as Traders Weigh Omicron Threat<blockquote>交易员权衡Omicron威胁，标普500勉强创下历史新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-28 22:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stocks were mostly flat Tuesday as the major indexes looked to build on record highs in the final week of the year.</p><p><blockquote>美国股市周二基本持平，主要股指有望在今年最后一周创下历史新高。</blockquote></p><p> The Dow Jones Industrial Average traded up 0.1%. The S&P 500 gained less than 0.1%. The Nasdaq Composite was flat.</p><p><blockquote>道琼斯工业平均指数上涨0.1%。标普500涨幅不到0.1%。纳斯达克综合指数持平。</blockquote></p><p> The move in futures comes after stocks rallied in Monday’s regular session, with the S&P 500 closing at its 69th record high of the year.</p><p><blockquote>期货走势是在周一常规交易中股市上涨之后发生的，标普500收于今年第69个历史新高。</blockquote></p><p> Markets continued to look to pandemic news for direction.</p><p><blockquote>市场继续从大流行新闻中寻找方向。</blockquote></p><p> The Centers for Disease Control and Prevention announced on Monday that it was shortening its isolation recommendation for people who test positive to five days from 10, if those people do not have symptoms.</p><p><blockquote>美国疾病控制与预防中心周一宣布，如果检测呈阳性的人没有症状，将把隔离建议从10天缩短至5天。</blockquote></p><p> Research out of South Africa also indicated that omicron infections can help boost immunity to the earlier delta strain of Covid.</p><p><blockquote>南非的研究还表明，奥密克戎感染有助于增强对早期新冠病毒delta毒株的免疫力。</blockquote></p><p> Pharmaceutical stocks dipped in early trading following the relatively optimistic news on the pandemic. Moderna slipped 1.1% and Pfizer was marginally lower in light premarket trading Tuesday morning.</p><p><blockquote>在疫情相对乐观的消息传出后，医药股早盘下跌。周二上午，Moderna股价下跌1.1%，辉瑞股价在清淡的盘前交易中小幅走低。</blockquote></p><p> Stocks dipped in late November, in part because of the rise of the omicron variant of Covid-19, but have since rebounded as governments have largely shied away from reinstating lockdowns and strict social distancing measures.</p><p><blockquote>11月下旬，股市下跌，部分原因是奥密克戎变种Covid-19的兴起，但由于各国政府基本上避免恢复封锁和严格的社交距离措施，股市随后反弹。</blockquote></p><p> Stocks tend to rise in light trading during the final days of the year, often called the “Santa Claus rally.” However, many Wall Street pros predict relatively small gains for stocks in 2022 after two strong years.</p><p><blockquote>在一年的最后几天，股市往往会在清淡的交易中上涨，通常被称为“圣诞老人反弹”。然而，许多华尔街专业人士预测，在经历了两年的强劲表现后，2022年股市涨幅相对较小。</blockquote></p><p> “If you look around Wall Street, you see very tame expectations, and it’s probably a reflection that we’re probably pretty late in the cycle,” Jim Lacamp, senior vice president at Morgan Stanley Wealth Management, said on “Closing Bell.”</p><p><blockquote>摩根士丹利财富管理公司高级副总裁吉姆·拉坎普(Jim Lacamp)在“收盘钟声”节目中表示：“如果你环顾华尔街，你会发现预期非常平淡，这可能反映出我们可能处于周期的后期。”</blockquote></p><p> For the year, the S&P 500 is up 27.6% for the year and the Nasdaq is up 23.1%. The Dow is the laggard, up 18.6%.</p><p><blockquote>今年，标普500上涨27.6%，纳斯达克上涨23.1%。道琼斯指数表现落后，上涨18.6%。</blockquote></p><p></p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125505230","content_text":"U.S. stocks were mostly flat Tuesday as the major indexes looked to build on record highs in the final week of the year.\n\nThe Dow Jones Industrial Average traded up 0.1%. The S&P 500 gained less than 0.1%. The Nasdaq Composite was flat.\n\nThe move in futures comes after stocks rallied in Monday’s regular session, with the S&P 500 closing at its 69th record high of the year.\n\nMarkets continued to look to pandemic news for direction.\n\nThe Centers for Disease Control and Prevention announced on Monday that it was shortening its isolation recommendation for people who test positive to five days from 10, if those people do not have symptoms.\n\nResearch out of South Africa also indicated that omicron infections can help boost immunity to the earlier delta strain of Covid.\n\nPharmaceutical stocks dipped in early trading following the relatively optimistic news on the pandemic. Moderna slipped 1.1% and Pfizer was marginally lower in light premarket trading Tuesday morning.\n\nStocks dipped in late November, in part because of the rise of the omicron variant of Covid-19, but have since rebounded as governments have largely shied away from reinstating lockdowns and strict social distancing measures.\n\nStocks tend to rise in light trading during the final days of the year, often called the “Santa Claus rally.” However, many Wall Street pros predict relatively small gains for stocks in 2022 after two strong years.\n\n“If you look around Wall Street, you see very tame expectations, and it’s probably a reflection that we’re probably pretty late in the cycle,” Jim Lacamp, senior vice president at Morgan Stanley Wealth Management, said on “Closing Bell.”\n\nFor the year, the S&P 500 is up 27.6% for the year and the Nasdaq is up 23.1%. The Dow is the laggard, up 18.6%.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696149892,"gmtCreate":1640654512417,"gmtModify":1640654512849,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696149892","repostId":"1127506895","repostType":4,"repost":{"id":"1127506895","kind":"news","pubTimestamp":1640649773,"share":"https://www.laohu8.com/m/news/1127506895?lang=zh_CN&edition=full","pubTime":"2021-12-28 08:02","market":"sg","language":"en","title":"Singapore Bourse Likely To Bounce Higher Again On Tuesday<blockquote>新加坡股市周二可能再次反弹走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127506895","media":"RTTNews","summary":"The Singapore stock market on Monday snapped the four-day winning streak in which it had gathered al","content":"<p>The Singapore stock market on Monday snapped the four-day winning streak in which it had gathered almost 35 points or 1.2 percent. The Straits Times Index now sits just beneath the 3,105-point plateau although it's expected to rebound on Tuesday.</p><p><blockquote>新加坡股市周一结束了连续四天的上涨，上涨了近35点或1.2%。海峡时报指数目前略低于3,105点的高位，尽管预计周二将反弹。</blockquote></p><p> The global forecast for the Asian marketsis optimistic on easing fears regarding the Omicron variant of the coronavirus. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.</p><p><blockquote>对亚洲市场的全球预测对缓解对冠状病毒奥密克戎变种的担忧持乐观态度。欧洲市场涨跌互现，美国股市上涨，亚洲市场似乎分担了这一差异。</blockquote></p><p> The STI finished slightly lower on Monday following losses from the financials, gains from the properties and a mixed picture from the industrials.</p><p><blockquote>继金融股下跌、房地产股上涨以及工业股涨跌互现后，海指周一小幅收低。</blockquote></p><p> For the day, the index fell 4.04 points or 0.13 percent to finish at 3,104.24 after trading between 3,104.24 and 3,113.55. Volume was 863.6 million shares worth 394.2 million Singapore dollars. There were 190 gainers and 139 decliners.</p><p><blockquote>当天，该指数在3,104.24点至3,113.55点之间交易后，下跌4.04点或0.13%，收于3,104.24点。成交量为8.636亿股，价值3.942亿新元。上涨190家，下跌139家。</blockquote></p><p> Among the actives, Ascendas REIT and DBS Group both fell 0.34 percent, while CapitaLand Integrated Commercial Trust and Mapletree Commercial Trust both climbed 0.50 percent, City Developments rallied 0.60 percent, Comfort DelGro advanced 0.73 percent, Dairy Farm International surged 2.56 percent, Genting Singapore jumped 0.65 percent, Keppel Corp and Hongkong Land both dropped 0.58 percent, Oversea-Chinese Banking Corporation eased 0.18 percent, SATS rose 0.26 percent, Singapore Exchange spiked 0.98 percent, Singapore Press Holdings added 0.43 percent, Singapore Technologies Engineering shed 0.53 percent, Thai Beverage accelerated 0.76 percent, United Overseas Bank sank 0.60 percent, Wilmar International lost 0.49 percent, Yangzijiang Shipbuilding soared 1.54 percent and Mapletree Logistics Trust, SembCorp Industries, Singapore Airlines and SingTel were unchanged.</p><p><blockquote>活跃股中，腾飞房地产投资信托基金和星展集团均下跌0.34%，凯德综合商业信托和丰树商业信托均上涨0.50%，City Developments上涨0.60%，Comfort DelGro上涨0.73%，Dairy Farm International飙升2.56%，云顶新加坡上涨0.65%，吉宝企业和香港置地均下跌0.58%，华侨银行下跌0.18%，SATS上涨0.26%，新加坡交易所飙升0.98%，新加坡科技工程下跌0.53%，大华银行下跌0.60%，丰益国际下跌0.49%，扬子江造船飙升1.54%，丰树物流信托、胜科工业、新加坡航空和新加坡电信持平。</blockquote></p><p> The lead from Wall Street is solid as the major averages opened higher on Monday and accelerated as the day progressed, ending at or near record closing highs.</p><p><blockquote>华尔街的领先优势稳固，主要股指周一开盘走高，并随着时间的推移加速上涨，收于或接近历史收盘高点。</blockquote></p><p> The Dow spiked 351.82 points or 0.98 percent to finish at 36,302.38, while the NASDAQ surged 217.89 points or 1.39 percent to end at 15,871.26 and the S&P 500 gained 65.40 points or 1.38 percent to close at 4,791.19.</p><p><blockquote>道琼斯指数飙升351.82点，涨幅0.98%，收于36,302.38点；纳斯达克飙升217.89点，涨幅1.39%，收于15,871.26点；标普500上涨65.40点，涨幅1.38%，收于4,791.19点。</blockquote></p><p> The continued strength on Wall Street came amid easing concerns about the economic impact of the Omicron variant of the coronavirus. While Omicron seems to be more transmissible, the new strain purportedly causes milder symptoms and could accelerate the end of the pandemic.</p><p><blockquote>华尔街持续走强之际，人们对冠状病毒奥密克戎变种对经济影响的担忧有所缓解。虽然奥密克戎病毒似乎更具传染性，但据称这种新毒株会引起较轻的症状，并可能加速大流行的结束。</blockquote></p><p> Stocks may also have benefitted from so-called window-dressing going into the end of the year, with traders looking to boost the value of the portfolios.</p><p><blockquote>随着交易员希望提高投资组合的价值，股市也可能受益于年底所谓的门面装饰。</blockquote></p><p> Crude oil futures ended sharply higher Monday amid hopes the Omicron variant will not any significantly impact global economic recovery. West Texas Intermediate Crude oil futures for February ended up by $1.78 or 2.4 percent at $75.57 a barrel.</p><p><blockquote>由于希望奥密克戎变种不会对全球经济复苏产生任何重大影响，原油期货周一大幅收高。西德克萨斯中质原油2月期货收涨1.78美元或2.4%，报每桶75.57美元。</blockquote></p><p></p>","source":"lsy1626938412129","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>Singapore Bourse Likely To Bounce Higher Again On Tuesday<blockquote>新加坡股市周二可能再次反弹走高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Bourse Likely To Bounce Higher Again On Tuesday<blockquote>新加坡股市周二可能再次反弹走高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">RTTNews</strong><span class=\"h-time small\">2021-12-28 08:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Singapore stock market on Monday snapped the four-day winning streak in which it had gathered almost 35 points or 1.2 percent. The Straits Times Index now sits just beneath the 3,105-point plateau although it's expected to rebound on Tuesday.</p><p><blockquote>新加坡股市周一结束了连续四天的上涨，上涨了近35点或1.2%。海峡时报指数目前略低于3,105点的高位，尽管预计周二将反弹。</blockquote></p><p> The global forecast for the Asian marketsis optimistic on easing fears regarding the Omicron variant of the coronavirus. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.</p><p><blockquote>对亚洲市场的全球预测对缓解对冠状病毒奥密克戎变种的担忧持乐观态度。欧洲市场涨跌互现，美国股市上涨，亚洲市场似乎分担了这一差异。</blockquote></p><p> The STI finished slightly lower on Monday following losses from the financials, gains from the properties and a mixed picture from the industrials.</p><p><blockquote>继金融股下跌、房地产股上涨以及工业股涨跌互现后，海指周一小幅收低。</blockquote></p><p> For the day, the index fell 4.04 points or 0.13 percent to finish at 3,104.24 after trading between 3,104.24 and 3,113.55. Volume was 863.6 million shares worth 394.2 million Singapore dollars. There were 190 gainers and 139 decliners.</p><p><blockquote>当天，该指数在3,104.24点至3,113.55点之间交易后，下跌4.04点或0.13%，收于3,104.24点。成交量为8.636亿股，价值3.942亿新元。上涨190家，下跌139家。</blockquote></p><p> Among the actives, Ascendas REIT and DBS Group both fell 0.34 percent, while CapitaLand Integrated Commercial Trust and Mapletree Commercial Trust both climbed 0.50 percent, City Developments rallied 0.60 percent, Comfort DelGro advanced 0.73 percent, Dairy Farm International surged 2.56 percent, Genting Singapore jumped 0.65 percent, Keppel Corp and Hongkong Land both dropped 0.58 percent, Oversea-Chinese Banking Corporation eased 0.18 percent, SATS rose 0.26 percent, Singapore Exchange spiked 0.98 percent, Singapore Press Holdings added 0.43 percent, Singapore Technologies Engineering shed 0.53 percent, Thai Beverage accelerated 0.76 percent, United Overseas Bank sank 0.60 percent, Wilmar International lost 0.49 percent, Yangzijiang Shipbuilding soared 1.54 percent and Mapletree Logistics Trust, SembCorp Industries, Singapore Airlines and SingTel were unchanged.</p><p><blockquote>活跃股中，腾飞房地产投资信托基金和星展集团均下跌0.34%，凯德综合商业信托和丰树商业信托均上涨0.50%，City Developments上涨0.60%，Comfort DelGro上涨0.73%，Dairy Farm International飙升2.56%，云顶新加坡上涨0.65%，吉宝企业和香港置地均下跌0.58%，华侨银行下跌0.18%，SATS上涨0.26%，新加坡交易所飙升0.98%，新加坡科技工程下跌0.53%，大华银行下跌0.60%，丰益国际下跌0.49%，扬子江造船飙升1.54%，丰树物流信托、胜科工业、新加坡航空和新加坡电信持平。</blockquote></p><p> The lead from Wall Street is solid as the major averages opened higher on Monday and accelerated as the day progressed, ending at or near record closing highs.</p><p><blockquote>华尔街的领先优势稳固，主要股指周一开盘走高，并随着时间的推移加速上涨，收于或接近历史收盘高点。</blockquote></p><p> The Dow spiked 351.82 points or 0.98 percent to finish at 36,302.38, while the NASDAQ surged 217.89 points or 1.39 percent to end at 15,871.26 and the S&P 500 gained 65.40 points or 1.38 percent to close at 4,791.19.</p><p><blockquote>道琼斯指数飙升351.82点，涨幅0.98%，收于36,302.38点；纳斯达克飙升217.89点，涨幅1.39%，收于15,871.26点；标普500上涨65.40点，涨幅1.38%，收于4,791.19点。</blockquote></p><p> The continued strength on Wall Street came amid easing concerns about the economic impact of the Omicron variant of the coronavirus. While Omicron seems to be more transmissible, the new strain purportedly causes milder symptoms and could accelerate the end of the pandemic.</p><p><blockquote>华尔街持续走强之际，人们对冠状病毒奥密克戎变种对经济影响的担忧有所缓解。虽然奥密克戎病毒似乎更具传染性，但据称这种新毒株会引起较轻的症状，并可能加速大流行的结束。</blockquote></p><p> Stocks may also have benefitted from so-called window-dressing going into the end of the year, with traders looking to boost the value of the portfolios.</p><p><blockquote>随着交易员希望提高投资组合的价值，股市也可能受益于年底所谓的门面装饰。</blockquote></p><p> Crude oil futures ended sharply higher Monday amid hopes the Omicron variant will not any significantly impact global economic recovery. West Texas Intermediate Crude oil futures for February ended up by $1.78 or 2.4 percent at $75.57 a barrel.</p><p><blockquote>由于希望奥密克戎变种不会对全球经济复苏产生任何重大影响，原油期货周一大幅收高。西德克萨斯中质原油2月期货收涨1.78美元或2.4%，报每桶75.57美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.rttnews.com/3251627/singapore-bourse-likely-to-bounce-higher-again-on-tuesday.aspx?type=acom\">RTTNews</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.rttnews.com/3251627/singapore-bourse-likely-to-bounce-higher-again-on-tuesday.aspx?type=acom","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127506895","content_text":"The Singapore stock market on Monday snapped the four-day winning streak in which it had gathered almost 35 points or 1.2 percent. The Straits Times Index now sits just beneath the 3,105-point plateau although it's expected to rebound on Tuesday.\nThe global forecast for the Asian marketsis optimistic on easing fears regarding the Omicron variant of the coronavirus. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.\nThe STI finished slightly lower on Monday following losses from the financials, gains from the properties and a mixed picture from the industrials.\nFor the day, the index fell 4.04 points or 0.13 percent to finish at 3,104.24 after trading between 3,104.24 and 3,113.55. Volume was 863.6 million shares worth 394.2 million Singapore dollars. There were 190 gainers and 139 decliners.\nAmong the actives, Ascendas REIT and DBS Group both fell 0.34 percent, while CapitaLand Integrated Commercial Trust and Mapletree Commercial Trust both climbed 0.50 percent, City Developments rallied 0.60 percent, Comfort DelGro advanced 0.73 percent, Dairy Farm International surged 2.56 percent, Genting Singapore jumped 0.65 percent, Keppel Corp and Hongkong Land both dropped 0.58 percent, Oversea-Chinese Banking Corporation eased 0.18 percent, SATS rose 0.26 percent, Singapore Exchange spiked 0.98 percent, Singapore Press Holdings added 0.43 percent, Singapore Technologies Engineering shed 0.53 percent, Thai Beverage accelerated 0.76 percent, United Overseas Bank sank 0.60 percent, Wilmar International lost 0.49 percent, Yangzijiang Shipbuilding soared 1.54 percent and Mapletree Logistics Trust, SembCorp Industries, Singapore Airlines and SingTel were unchanged.\nThe lead from Wall Street is solid as the major averages opened higher on Monday and accelerated as the day progressed, ending at or near record closing highs.\nThe Dow spiked 351.82 points or 0.98 percent to finish at 36,302.38, while the NASDAQ surged 217.89 points or 1.39 percent to end at 15,871.26 and the S&P 500 gained 65.40 points or 1.38 percent to close at 4,791.19.\nThe continued strength on Wall Street came amid easing concerns about the economic impact of the Omicron variant of the coronavirus. While Omicron seems to be more transmissible, the new strain purportedly causes milder symptoms and could accelerate the end of the pandemic.\nStocks may also have benefitted from so-called window-dressing going into the end of the year, with traders looking to boost the value of the portfolios.\nCrude oil futures ended sharply higher Monday amid hopes the Omicron variant will not any significantly impact global economic recovery. West Texas Intermediate Crude oil futures for February ended up by $1.78 or 2.4 percent at $75.57 a barrel.","news_type":1,"symbols_score_info":{"STI.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":2201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698725215,"gmtCreate":1640562531722,"gmtModify":1640562532098,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698725215","repostId":"2193173436","repostType":4,"isVote":1,"tweetType":1,"viewCount":2983,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698403400,"gmtCreate":1640483604194,"gmtModify":1640483604613,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698403400","repostId":"2193317305","repostType":4,"isVote":1,"tweetType":1,"viewCount":2661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698291983,"gmtCreate":1640398776949,"gmtModify":1640398777327,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698291983","repostId":"1166205101","repostType":4,"isVote":1,"tweetType":1,"viewCount":4407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698974498,"gmtCreate":1640298711245,"gmtModify":1640298713007,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698974498","repostId":"1122481313","repostType":4,"repost":{"id":"1122481313","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640270214,"share":"https://www.laohu8.com/m/news/1122481313?lang=zh_CN&edition=full","pubTime":"2021-12-23 22:36","market":"us","language":"en","title":"InnovAge shares tumbled nearly 50% in early trading<blockquote>InnovAge股价早盘暴跌近50%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122481313","media":"Tiger Newspress","summary":"InnovAge shares tumbled nearly 50% in early trading.\nInnovAge Holding Corp. announced today that the","content":"<p>InnovAge shares tumbled nearly 50% in early trading.</p><p><blockquote>InnovAge股价早盘暴跌近50%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4f59ac3f16167bfe0c60c363c7fc0e98\" tg-width=\"717\" tg-height=\"605\" width=\"100%\" height=\"auto\">InnovAge Holding Corp. announced today that the Centers for Medicare and Medicaid Services (CMS) has sanctioned the Company’s Colorado centers based on deficiencies detected in a focused audit.</p><p><blockquote>InnovAge Holding Corp.今天宣布，医疗保险和医疗补助服务中心（CMS）已根据在重点审计中发现的缺陷对该公司的科罗拉多州中心进行了制裁。</blockquote></p><p> On December 22, 2021 InnovAge was notified that CMS had determined to suspend new enrollments at the Company’s Colorado centers based on deficiencies detected in an audit that was conducted earlier this year the final results which have not yet been disclosed to the company. CMS identified the following deficiencies including a failure:</p><p><blockquote>2021年12月22日，InnovAge接到通知，CMS已决定暂停该公司科罗拉多中心的新注册，原因是今年早些时候进行的审计中发现的缺陷，最终结果尚未向公司披露。CMS发现了以下缺陷，包括故障：</blockquote></p><p> To provide all Medicare and Medicaid covered services, as well as other services determined necessary by the interdisciplinary team (IDT) to improve and maintain the participant’s overall health status;To provide care that meets the needs of each participant across all care settings, 24 hours a day, every day of the year;To ensure accessible and adequate services to meet the needs of the Company’s participants;Of the IDT to coordinate 24-hour care delivery and to remain alert to pertinent information from other team members, participants, and caregivers; andOf the InnovAge Colorado’s primary care providers to manage their participants’ medical situations and oversee their participants’ use of medical specialists.</p><p><blockquote>提供所有Medicare和Medicaid承保的服务，以及跨学科团队(IDT)认为必要的其他服务，以改善和维持参与者的整体健康状况；全年每天24小时在所有护理环境中提供满足每个参与者需求的护理；确保可获得和充分的服务，以满足公司参与者的需求；协调24小时护理服务，并对来自其他团队成员、参与者和护理人员的相关信息保持警惕；和创新科罗拉多州的初级保健提供者来管理其参与者的医疗状况并监督其参与者对医疗专家的使用。</blockquote></p><p> CMS indicated that the suspension will remain in effect until it determines that the Company has remedied such deficiencies to its satisfaction.</p><p><blockquote>CMS表示，暂停将继续有效，直到它确定该公司已对此类缺陷进行了满意的补救。</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>InnovAge shares tumbled nearly 50% in early trading<blockquote>InnovAge股价早盘暴跌近50%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInnovAge shares tumbled nearly 50% in early trading<blockquote>InnovAge股价早盘暴跌近50%</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\">2021-12-23 22:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>InnovAge shares tumbled nearly 50% in early trading.</p><p><blockquote>InnovAge股价早盘暴跌近50%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4f59ac3f16167bfe0c60c363c7fc0e98\" tg-width=\"717\" tg-height=\"605\" width=\"100%\" height=\"auto\">InnovAge Holding Corp. announced today that the Centers for Medicare and Medicaid Services (CMS) has sanctioned the Company’s Colorado centers based on deficiencies detected in a focused audit.</p><p><blockquote>InnovAge Holding Corp.今天宣布，医疗保险和医疗补助服务中心（CMS）已根据在重点审计中发现的缺陷对该公司的科罗拉多州中心进行了制裁。</blockquote></p><p> On December 22, 2021 InnovAge was notified that CMS had determined to suspend new enrollments at the Company’s Colorado centers based on deficiencies detected in an audit that was conducted earlier this year the final results which have not yet been disclosed to the company. CMS identified the following deficiencies including a failure:</p><p><blockquote>2021年12月22日，InnovAge接到通知，CMS已决定暂停该公司科罗拉多中心的新注册，原因是今年早些时候进行的审计中发现的缺陷，最终结果尚未向公司披露。CMS发现了以下缺陷，包括故障：</blockquote></p><p> To provide all Medicare and Medicaid covered services, as well as other services determined necessary by the interdisciplinary team (IDT) to improve and maintain the participant’s overall health status;To provide care that meets the needs of each participant across all care settings, 24 hours a day, every day of the year;To ensure accessible and adequate services to meet the needs of the Company’s participants;Of the IDT to coordinate 24-hour care delivery and to remain alert to pertinent information from other team members, participants, and caregivers; andOf the InnovAge Colorado’s primary care providers to manage their participants’ medical situations and oversee their participants’ use of medical specialists.</p><p><blockquote>提供所有Medicare和Medicaid承保的服务，以及跨学科团队(IDT)认为必要的其他服务，以改善和维持参与者的整体健康状况；全年每天24小时在所有护理环境中提供满足每个参与者需求的护理；确保可获得和充分的服务，以满足公司参与者的需求；协调24小时护理服务，并对来自其他团队成员、参与者和护理人员的相关信息保持警惕；和创新科罗拉多州的初级保健提供者来管理其参与者的医疗状况并监督其参与者对医疗专家的使用。</blockquote></p><p> CMS indicated that the suspension will remain in effect until it determines that the Company has remedied such deficiencies to its satisfaction.</p><p><blockquote>CMS表示，暂停将继续有效，直到它确定该公司已对此类缺陷进行了满意的补救。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INNV":"InnovAge Holding Corp."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122481313","content_text":"InnovAge shares tumbled nearly 50% in early trading.\nInnovAge Holding Corp. announced today that the Centers for Medicare and Medicaid Services (CMS) has sanctioned the Company’s Colorado centers based on deficiencies detected in a focused audit.\nOn December 22, 2021 InnovAge was notified that CMS had determined to suspend new enrollments at the Company’s Colorado centers based on deficiencies detected in an audit that was conducted earlier this year the final results which have not yet been disclosed to the company. CMS identified the following deficiencies including a failure:\nTo provide all Medicare and Medicaid covered services, as well as other services determined necessary by the interdisciplinary team (IDT) to improve and maintain the participant’s overall health status;To provide care that meets the needs of each participant across all care settings, 24 hours a day, every day of the year;To ensure accessible and adequate services to meet the needs of the Company’s participants;Of the IDT to coordinate 24-hour care delivery and to remain alert to pertinent information from other team members, participants, and caregivers; andOf the InnovAge Colorado’s primary care providers to manage their participants’ medical situations and oversee their participants’ use of medical specialists.\nCMS indicated that the suspension will remain in effect until it determines that the Company has remedied such deficiencies to its satisfaction.","news_type":1,"symbols_score_info":{"INNV":0.9}},"isVote":1,"tweetType":1,"viewCount":3092,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691222649,"gmtCreate":1640213159990,"gmtModify":1640213160359,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691222649","repostId":"1104039472","repostType":4,"repost":{"id":"1104039472","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640184691,"share":"https://www.laohu8.com/m/news/1104039472?lang=zh_CN&edition=full","pubTime":"2021-12-22 22:51","market":"us","language":"en","title":"Biogen shares fell 1.2% in early trading<blockquote>百健(Biogen)股价早盘下跌1.2%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104039472","media":"Tiger Newspress","summary":"Biogen shares fell 1.2% in early trading.A Japanese health ministry panel said on Wednesday that inc","content":"<p>Biogen shares fell 1.2% in early trading.<img src=\"https://static.tigerbbs.com/22ab29bf4110d582a44955c778f3cf48\" tg-width=\"713\" tg-height=\"596\" width=\"100%\" height=\"auto\">A Japanese health ministry panel said on Wednesday that inconsistent trial results made it difficult to determine the efficacy of an Alzheimer's treatment developed by Eisai Co and Biogen Inc.</p><p><blockquote>百健(Biogen)股价早盘下跌1.日本厚生省的一个小组周三表示，不一致的试验结果使得很难确定卫材公司和百健公司开发的阿尔茨海默氏症治疗方法的疗效。</blockquote></p><p> Tokyo-based Eisai and its United States partner filed for Japanese regulatory approval just over a year ago for the drug Aduhelm, which was approved in the United States in June.</p><p><blockquote>总部位于东京的卫材及其美国合作伙伴一年多前向日本监管机构申请了药物Aduhelm的批准，该药物于6月在美国获得批准。</blockquote></p><p> In a statement the panel cited inconsistent results from global Phase III trials and a lack of clinical significance in the drug's ability to reduce plaques in the brain. The panel said it would take another look if further data is submitted.</p><p><blockquote>在一份声明中，该小组引用了全球III期试验的不一致结果，以及该药物减少大脑斑块的能力缺乏临床意义。该小组表示，如果提交进一步的数据，它将重新考虑。</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>Biogen shares fell 1.2% in early trading<blockquote>百健(Biogen)股价早盘下跌1.2%</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\">\nBiogen shares fell 1.2% in early trading<blockquote>百健(Biogen)股价早盘下跌1.2%</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\">2021-12-22 22:51</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Biogen shares fell 1.2% in early trading.<img src=\"https://static.tigerbbs.com/22ab29bf4110d582a44955c778f3cf48\" tg-width=\"713\" tg-height=\"596\" width=\"100%\" height=\"auto\">A Japanese health ministry panel said on Wednesday that inconsistent trial results made it difficult to determine the efficacy of an Alzheimer's treatment developed by Eisai Co and Biogen Inc.</p><p><blockquote>百健(Biogen)股价早盘下跌1.日本厚生省的一个小组周三表示，不一致的试验结果使得很难确定卫材公司和百健公司开发的阿尔茨海默氏症治疗方法的疗效。</blockquote></p><p> Tokyo-based Eisai and its United States partner filed for Japanese regulatory approval just over a year ago for the drug Aduhelm, which was approved in the United States in June.</p><p><blockquote>总部位于东京的卫材及其美国合作伙伴一年多前向日本监管机构申请了药物Aduhelm的批准，该药物于6月在美国获得批准。</blockquote></p><p> In a statement the panel cited inconsistent results from global Phase III trials and a lack of clinical significance in the drug's ability to reduce plaques in the brain. The panel said it would take another look if further data is submitted.</p><p><blockquote>在一份声明中，该小组引用了全球III期试验的不一致结果，以及该药物减少大脑斑块的能力缺乏临床意义。该小组表示，如果提交进一步的数据，它将重新考虑。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BIIB":"渤健公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104039472","content_text":"Biogen shares fell 1.2% in early trading.A Japanese health ministry panel said on Wednesday that inconsistent trial results made it difficult to determine the efficacy of an Alzheimer's treatment developed by Eisai Co and Biogen Inc.\nTokyo-based Eisai and its United States partner filed for Japanese regulatory approval just over a year ago for the drug Aduhelm, which was approved in the United States in June.\nIn a statement the panel cited inconsistent results from global Phase III trials and a lack of clinical significance in the drug's ability to reduce plaques in the brain. The panel said it would take another look if further data is submitted.","news_type":1,"symbols_score_info":{"BIIB":0.9}},"isVote":1,"tweetType":1,"viewCount":3427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691392455,"gmtCreate":1640134146302,"gmtModify":1640134146649,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691392455","repostId":"2193216546","repostType":4,"isVote":1,"tweetType":1,"viewCount":872,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693215577,"gmtCreate":1640039518509,"gmtModify":1640039518868,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693215577","repostId":"1149998172","repostType":4,"isVote":1,"tweetType":1,"viewCount":1067,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693980288,"gmtCreate":1639960614416,"gmtModify":1639960614850,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693980288","repostId":"2192909178","repostType":4,"isVote":1,"tweetType":1,"viewCount":1373,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699464477,"gmtCreate":1639878831098,"gmtModify":1639878831482,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/699464477","repostId":"2192754259","repostType":4,"isVote":1,"tweetType":1,"viewCount":870,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699852531,"gmtCreate":1639785025006,"gmtModify":1639785025398,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699852531","repostId":"1114105828","repostType":4,"repost":{"id":"1114105828","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639751560,"share":"https://www.laohu8.com/m/news/1114105828?lang=zh_CN&edition=full","pubTime":"2021-12-17 22:32","market":"us","language":"en","title":"U.S. stocks sink at Friday's open,Nasdaq Composite Index declines 0.9%<blockquote>美股周五开盘下跌，纳斯达克综合指数下跌0.9%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114105828","media":"Tiger Newspress","summary":"U.S. stocks sink at Friday's open as 10-year Treasury yield falls below 1.4% to cap Fed week,Nasdaq ","content":"<p>U.S. stocks sink at Friday's open as 10-year Treasury yield falls below 1.4% to cap Fed week,Nasdaq Composite Index declines 0.9%,Dow trades 0.5% lower; S&P 500 down 0.6%.</p><p><blockquote>美国股市周五开盘下跌，10年期国债收益率跌破1.4%，限制美联储一周，纳斯达克综合指数下跌0.9%，道指下跌0.5%；标普500下跌0.6%。</blockquote></p><p> Shares of FedEx (FDX) jumped after the shipping giant raised its full-year earnings forecast, delivered better-than-expected fiscal second-quarter results and authorized a new $5 billion stock buyback program. Rivian (RIVN), meanwhile, saw shares sink following its first quarterly report since its IPO last month. The electric-vehicle makersaid in its shareholder letterit expected to be \"a few hundred vehicles short\" of its prior target of producing 1,200 units by the end of this year.</p><p><blockquote>航运巨头联邦快递(FDX)上调了全年盈利预期，公布了好于预期的第二财季业绩，并授权了一项新的50亿美元股票回购计划，该公司股价上涨。与此同时，Rivian(RIVN)在发布自上个月首次公开募股以来的第一份季度报告后股价下跌。这家电动汽车制造商在股东信中表示，预计到今年年底生产1,200辆汽车的目标“还差几百辆”。</blockquote></p><p> Investors' main focus this week has remained fixed on the Federal Reserve's updated outlook on monetary policy for next year, with the central bank's projections delivered mid-week suggesting the Fedcould hike interest rates three times next year.</p><p><blockquote>投资者本周的主要焦点仍然集中在美联储对明年货币政策的最新展望上，央行周中发布的预测表明美联储明年可能加息三次。</blockquote></p><p> The specter of higher rates — and a lower-liquidity environment as the central bank also speeds up the tapering process of its asset purchases — has continued to weigh heavily on longer-duration technology and growth stocks valued heavily on future earnings potential. The Nasdaq Composite has fallen by 5% over the past month through Thursday's close. And shares of some notable technology stocks extended declines on Friday, with Apple (AAPL) shares dropping by more than 1% in early trading after a nearly 4% decrease on Thursday.</p><p><blockquote>利率上升的幽灵——以及随着央行也加快缩减资产购买进程而导致的流动性下降——继续给长期科技股和成长型股票带来沉重压力，这些股票对未来盈利潜力的估值很高。截至周四收盘，纳斯达克综合指数在过去一个月下跌了5%。一些著名科技股的股价周五延续跌势，苹果(AAPL)股价继周四下跌近4%后，早盘下跌超过1%。</blockquote></p><p> On the other hand, cyclical stocks in the energy and financials sectors outperformed on Thursday, with the prospects of higher interest rates and stronger growth seen as benefitting these sectors.</p><p><blockquote>另一方面，能源和金融板块的周期性股票周四表现出色，利率上升和增长强劲的前景被视为有利于这些板块。</blockquote></p><p> \"The thing investors have to understand is, we're going through a major transition in monetary policy,\" Troy Gayeski, FS Investments chief market strategist,told Yahoo Finance Live on Thursday.\"The Fed has been running emergency policies arguably far longer than they should have been, and as that money supply growth slows down as they ease off the balance sheet expansion and ultimately hike next year, one would at least expect more volatility in markets. And that's really what we've been seeing the last month.\"</p><p><blockquote>FS Investments首席市场策略师特洛伊·盖耶斯基(Troy Gayeski)周四对雅虎财经直播表示：“投资者必须明白的是，我们正在经历货币政策的重大转变。”“美联储实施紧急政策的时间可以说比应有的时间长得多，随着货币供应增长放缓，随着他们放松资产负债表扩张并最终在明年加息，人们至少预计市场会出现更多波动。这确实是我们上个月看到的情况。”</blockquote></p><p> \"The biggest difference between now and six months ago, or even more than a year ago, is you could pretty much go long anything and you were confident it was going to go up. The economy was booming, we had a lot of fiscal stimulus, we still had unprecedented monetary policy stimulus,\" he added. \"And it's a very different environment in 2022 where you're going to have to pick and choose much more carefully.\"</p><p><blockquote>“现在与六个月前，甚至一年多前最大的区别是，你几乎可以做多任何东西，并且你有信心它会上涨。经济正在蓬勃发展，我们有很多财政刺激，我们仍然有前所未有的货币政策刺激，”他补充道。“2022年的环境非常不同，你必须更加仔细地挑选。”</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>U.S. stocks sink at Friday's open,Nasdaq Composite Index declines 0.9%<blockquote>美股周五开盘下跌，纳斯达克综合指数下跌0.9%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stocks sink at Friday's open,Nasdaq Composite Index declines 0.9%<blockquote>美股周五开盘下跌，纳斯达克综合指数下跌0.9%</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\">2021-12-17 22:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stocks sink at Friday's open as 10-year Treasury yield falls below 1.4% to cap Fed week,Nasdaq Composite Index declines 0.9%,Dow trades 0.5% lower; S&P 500 down 0.6%.</p><p><blockquote>美国股市周五开盘下跌，10年期国债收益率跌破1.4%，限制美联储一周，纳斯达克综合指数下跌0.9%，道指下跌0.5%；标普500下跌0.6%。</blockquote></p><p> Shares of FedEx (FDX) jumped after the shipping giant raised its full-year earnings forecast, delivered better-than-expected fiscal second-quarter results and authorized a new $5 billion stock buyback program. Rivian (RIVN), meanwhile, saw shares sink following its first quarterly report since its IPO last month. The electric-vehicle makersaid in its shareholder letterit expected to be \"a few hundred vehicles short\" of its prior target of producing 1,200 units by the end of this year.</p><p><blockquote>航运巨头联邦快递(FDX)上调了全年盈利预期，公布了好于预期的第二财季业绩，并授权了一项新的50亿美元股票回购计划，该公司股价上涨。与此同时，Rivian(RIVN)在发布自上个月首次公开募股以来的第一份季度报告后股价下跌。这家电动汽车制造商在股东信中表示，预计到今年年底生产1,200辆汽车的目标“还差几百辆”。</blockquote></p><p> Investors' main focus this week has remained fixed on the Federal Reserve's updated outlook on monetary policy for next year, with the central bank's projections delivered mid-week suggesting the Fedcould hike interest rates three times next year.</p><p><blockquote>投资者本周的主要焦点仍然集中在美联储对明年货币政策的最新展望上，央行周中发布的预测表明美联储明年可能加息三次。</blockquote></p><p> The specter of higher rates — and a lower-liquidity environment as the central bank also speeds up the tapering process of its asset purchases — has continued to weigh heavily on longer-duration technology and growth stocks valued heavily on future earnings potential. The Nasdaq Composite has fallen by 5% over the past month through Thursday's close. And shares of some notable technology stocks extended declines on Friday, with Apple (AAPL) shares dropping by more than 1% in early trading after a nearly 4% decrease on Thursday.</p><p><blockquote>利率上升的幽灵——以及随着央行也加快缩减资产购买进程而导致的流动性下降——继续给长期科技股和成长型股票带来沉重压力，这些股票对未来盈利潜力的估值很高。截至周四收盘，纳斯达克综合指数在过去一个月下跌了5%。一些著名科技股的股价周五延续跌势，苹果(AAPL)股价继周四下跌近4%后，早盘下跌超过1%。</blockquote></p><p> On the other hand, cyclical stocks in the energy and financials sectors outperformed on Thursday, with the prospects of higher interest rates and stronger growth seen as benefitting these sectors.</p><p><blockquote>另一方面，能源和金融板块的周期性股票周四表现出色，利率上升和增长强劲的前景被视为有利于这些板块。</blockquote></p><p> \"The thing investors have to understand is, we're going through a major transition in monetary policy,\" Troy Gayeski, FS Investments chief market strategist,told Yahoo Finance Live on Thursday.\"The Fed has been running emergency policies arguably far longer than they should have been, and as that money supply growth slows down as they ease off the balance sheet expansion and ultimately hike next year, one would at least expect more volatility in markets. And that's really what we've been seeing the last month.\"</p><p><blockquote>FS Investments首席市场策略师特洛伊·盖耶斯基(Troy Gayeski)周四对雅虎财经直播表示：“投资者必须明白的是，我们正在经历货币政策的重大转变。”“美联储实施紧急政策的时间可以说比应有的时间长得多，随着货币供应增长放缓，随着他们放松资产负债表扩张并最终在明年加息，人们至少预计市场会出现更多波动。这确实是我们上个月看到的情况。”</blockquote></p><p> \"The biggest difference between now and six months ago, or even more than a year ago, is you could pretty much go long anything and you were confident it was going to go up. The economy was booming, we had a lot of fiscal stimulus, we still had unprecedented monetary policy stimulus,\" he added. \"And it's a very different environment in 2022 where you're going to have to pick and choose much more carefully.\"</p><p><blockquote>“现在与六个月前，甚至一年多前最大的区别是，你几乎可以做多任何东西，并且你有信心它会上涨。经济正在蓬勃发展，我们有很多财政刺激，我们仍然有前所未有的货币政策刺激，”他补充道。“2022年的环境非常不同，你必须更加仔细地挑选。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114105828","content_text":"U.S. stocks sink at Friday's open as 10-year Treasury yield falls below 1.4% to cap Fed week,Nasdaq Composite Index declines 0.9%,Dow trades 0.5% lower; S&P 500 down 0.6%.\nShares of FedEx (FDX) jumped after the shipping giant raised its full-year earnings forecast, delivered better-than-expected fiscal second-quarter results and authorized a new $5 billion stock buyback program. Rivian (RIVN), meanwhile, saw shares sink following its first quarterly report since its IPO last month. The electric-vehicle makersaid in its shareholder letterit expected to be \"a few hundred vehicles short\" of its prior target of producing 1,200 units by the end of this year.\nInvestors' main focus this week has remained fixed on the Federal Reserve's updated outlook on monetary policy for next year, with the central bank's projections delivered mid-week suggesting the Fedcould hike interest rates three times next year.\nThe specter of higher rates — and a lower-liquidity environment as the central bank also speeds up the tapering process of its asset purchases — has continued to weigh heavily on longer-duration technology and growth stocks valued heavily on future earnings potential. The Nasdaq Composite has fallen by 5% over the past month through Thursday's close. And shares of some notable technology stocks extended declines on Friday, with Apple (AAPL) shares dropping by more than 1% in early trading after a nearly 4% decrease on Thursday.\nOn the other hand, cyclical stocks in the energy and financials sectors outperformed on Thursday, with the prospects of higher interest rates and stronger growth seen as benefitting these sectors.\n\"The thing investors have to understand is, we're going through a major transition in monetary policy,\" Troy Gayeski, FS Investments chief market strategist,told Yahoo Finance Live on Thursday.\"The Fed has been running emergency policies arguably far longer than they should have been, and as that money supply growth slows down as they ease off the balance sheet expansion and ultimately hike next year, one would at least expect more volatility in markets. And that's really what we've been seeing the last month.\"\n\"The biggest difference between now and six months ago, or even more than a year ago, is you could pretty much go long anything and you were confident it was going to go up. The economy was booming, we had a lot of fiscal stimulus, we still had unprecedented monetary policy stimulus,\" he added. \"And it's a very different environment in 2022 where you're going to have to pick and choose much more carefully.\"","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1888,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690459229,"gmtCreate":1639703833646,"gmtModify":1639703834046,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690459229","repostId":"1148045391","repostType":4,"repost":{"id":"1148045391","kind":"news","pubTimestamp":1639698518,"share":"https://www.laohu8.com/m/news/1148045391?lang=zh_CN&edition=full","pubTime":"2021-12-17 07:48","market":"us","language":"en","title":"Is Ford Stock the New Tesla?<blockquote>福特股票是新的特斯拉吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148045391","media":"Barrons","summary":"Shares of Ford Motor,surprisingly, have become somewhat controversial on Wall Street headed into 202","content":"<p>Shares of Ford Motor,surprisingly, have become somewhat controversial on Wall Street headed into 2022. Some analysts are taking their chips off the table, while others are doubling down.</p><p><blockquote>令人惊讶的是，进入2022年，福特汽车的股票在华尔街变得有些争议。一些分析师正在放弃筹码，而另一些分析师则加倍下注。</blockquote></p><p> On Thursday, Barclays analyst Brian Johnson increased his price target for Ford stock (ticker: F) to $23 from $18 and kept his Buy rating. Johnson believes Ford shares will keep working in 2022 amid low dealer inventories and high vehicle pricing.</p><p><blockquote>周四，巴克莱分析师Brian Johnson将福特股票（股票代码：F）的目标价从18美元上调至23美元，并维持买入评级。约翰逊认为，在经销商库存较低和汽车定价较高的情况下，福特股价将在2022年继续上涨。</blockquote></p><p> Ford stock has had a great 2021 so far. Shares have soared about 131% year to date.</p><p><blockquote>到目前为止，福特股票在2021年表现出色。今年迄今为止，股价已飙升约131%。</blockquote></p><p> It’s the second price target bump for Ford stock in the past couple of days. On Wednesday, Wells Fargo analyst Colin Langan increased his price target to $25 from $19 a share.</p><p><blockquote>这是福特股票过去几天第二次上调目标价。周三，富国银行分析师Colin Langan将目标价从每股19美元上调至25美元。</blockquote></p><p> Not everyone is increasingly bullish on the auto maker, though. On Monday, Daiwa analyst Jairam Nathan downgraded the stock to Sell from Hold. Although he did take his price target to $19 from $16 a share.</p><p><blockquote>不过，并非所有人都越来越看好这家汽车制造商。周一，大和分析师Jairam Nathan将该股评级从持有下调至卖出。尽管他确实将目标价从每股16美元上调至19美元。</blockquote></p><p> After all the recent analyst adjustments, Ford price targets now range from $12 to $25 a share. The $13 spread is about 65% of the current share price. The average bull-bear spread for stocks in the Dow is about 48%.</p><p><blockquote>经过分析师最近的所有调整后，福特的目标价目前在每股12美元至25美元之间。13美元的价差约为当前股价的65%。道琼斯指数股票的平均牛熊价差约为48%。</blockquote></p><p> Three months ago, target prices for Ford stock ranged from about $11 to $18 a share; the $7 spread was about 50% of the current stock price. This all illustrates that Ford stock is getting a little more controversial on Wall Street.</p><p><blockquote>三个月前，福特股票的目标价约为每股11美元至18美元；7美元的价差约为当前股价的50%。这一切都表明福特股票在华尔街的争议越来越大。</blockquote></p><p> Even though Wall Street can’t seem to agree on Ford,Tesla (TSLA) remains the king of car-stock controversy. The bull-bear spread for Tesla stock coming from large brokerage firms is about $1,330, or almost 140% of the current stock price.</p><p><blockquote>尽管华尔街似乎无法就福特达成一致，但特斯拉(TSLA)仍然是汽车股争议之王。来自大型经纪公司的特斯拉股票的牛熊价差约为1,330美元，几乎是当前股价的140%。</blockquote></p><p> One interpretation of increasing disagreement over Ford stock’s value is that some analysts aren’t sure Ford’s 2021 gains are justified. Ford stock has benefited from improving auto demand and higher vehicle pricing. That part of Ford’s gains likely doesn’t vex analysts. But Ford shares have also gained because of improving electric vehicle sales. The company has sold about 25,000 all-electric Mustang Mach E vehicles so far this year. Ford EV momentum might be harder for analysts to reward.</p><p><blockquote>对福特股票价值分歧日益加剧的一种解释是，一些分析师不确定福特2021年的涨幅是否合理。福特股票受益于汽车需求的改善和汽车定价的上涨。福特的这部分收益可能不会让分析师感到恼火。但由于电动汽车销量的改善，福特股价也有所上涨。今年迄今为止，该公司已售出约25,000辆全电动野马Mach E汽车。分析师可能更难奖励福特电动汽车的势头。</blockquote></p><p> In 2022, Ford is launching an all-electric F-150. How sales of that vehicle ramp will go a long way in determining how Ford stock performs this coming year. Rising EV sales will be a key factor for Ford investors in 2022—just like rising EV sales are a key factor for Tesla investors every year.</p><p><blockquote>2022年，福特将推出全电动F-150。汽车销量的增长将在很大程度上决定福特股票来年的表现。电动汽车销量的增长将是2022年福特投资者的关键因素——就像电动汽车销量的增长每年都是特斯拉投资者的关键因素一样。</blockquote></p><p> About 54% of analysts covering Ford stock rate share Buy. The average Buy-rating ratio for stocks in the S&P is about 55%. About 48% of analysts covering Tesla stock rate shares Buy.</p><p><blockquote>大约54%的分析师对福特股票评级为买入。标准普尔股票的平均买入评级约为55%。大约48%的研究特斯拉股票的分析师将股票评级为买入。</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>Is Ford Stock the New Tesla?<blockquote>福特股票是新的特斯拉吗？</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 Ford Stock the New Tesla?<blockquote>福特股票是新的特斯拉吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-12-17 07:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Shares of Ford Motor,surprisingly, have become somewhat controversial on Wall Street headed into 2022. Some analysts are taking their chips off the table, while others are doubling down.</p><p><blockquote>令人惊讶的是，进入2022年，福特汽车的股票在华尔街变得有些争议。一些分析师正在放弃筹码，而另一些分析师则加倍下注。</blockquote></p><p> On Thursday, Barclays analyst Brian Johnson increased his price target for Ford stock (ticker: F) to $23 from $18 and kept his Buy rating. Johnson believes Ford shares will keep working in 2022 amid low dealer inventories and high vehicle pricing.</p><p><blockquote>周四，巴克莱分析师Brian Johnson将福特股票（股票代码：F）的目标价从18美元上调至23美元，并维持买入评级。约翰逊认为，在经销商库存较低和汽车定价较高的情况下，福特股价将在2022年继续上涨。</blockquote></p><p> Ford stock has had a great 2021 so far. Shares have soared about 131% year to date.</p><p><blockquote>到目前为止，福特股票在2021年表现出色。今年迄今为止，股价已飙升约131%。</blockquote></p><p> It’s the second price target bump for Ford stock in the past couple of days. On Wednesday, Wells Fargo analyst Colin Langan increased his price target to $25 from $19 a share.</p><p><blockquote>这是福特股票过去几天第二次上调目标价。周三，富国银行分析师Colin Langan将目标价从每股19美元上调至25美元。</blockquote></p><p> Not everyone is increasingly bullish on the auto maker, though. On Monday, Daiwa analyst Jairam Nathan downgraded the stock to Sell from Hold. Although he did take his price target to $19 from $16 a share.</p><p><blockquote>不过，并非所有人都越来越看好这家汽车制造商。周一，大和分析师Jairam Nathan将该股评级从持有下调至卖出。尽管他确实将目标价从每股16美元上调至19美元。</blockquote></p><p> After all the recent analyst adjustments, Ford price targets now range from $12 to $25 a share. The $13 spread is about 65% of the current share price. The average bull-bear spread for stocks in the Dow is about 48%.</p><p><blockquote>经过分析师最近的所有调整后，福特的目标价目前在每股12美元至25美元之间。13美元的价差约为当前股价的65%。道琼斯指数股票的平均牛熊价差约为48%。</blockquote></p><p> Three months ago, target prices for Ford stock ranged from about $11 to $18 a share; the $7 spread was about 50% of the current stock price. This all illustrates that Ford stock is getting a little more controversial on Wall Street.</p><p><blockquote>三个月前，福特股票的目标价约为每股11美元至18美元；7美元的价差约为当前股价的50%。这一切都表明福特股票在华尔街的争议越来越大。</blockquote></p><p> Even though Wall Street can’t seem to agree on Ford,Tesla (TSLA) remains the king of car-stock controversy. The bull-bear spread for Tesla stock coming from large brokerage firms is about $1,330, or almost 140% of the current stock price.</p><p><blockquote>尽管华尔街似乎无法就福特达成一致，但特斯拉(TSLA)仍然是汽车股争议之王。来自大型经纪公司的特斯拉股票的牛熊价差约为1,330美元，几乎是当前股价的140%。</blockquote></p><p> One interpretation of increasing disagreement over Ford stock’s value is that some analysts aren’t sure Ford’s 2021 gains are justified. Ford stock has benefited from improving auto demand and higher vehicle pricing. That part of Ford’s gains likely doesn’t vex analysts. But Ford shares have also gained because of improving electric vehicle sales. The company has sold about 25,000 all-electric Mustang Mach E vehicles so far this year. Ford EV momentum might be harder for analysts to reward.</p><p><blockquote>对福特股票价值分歧日益加剧的一种解释是，一些分析师不确定福特2021年的涨幅是否合理。福特股票受益于汽车需求的改善和汽车定价的上涨。福特的这部分收益可能不会让分析师感到恼火。但由于电动汽车销量的改善，福特股价也有所上涨。今年迄今为止，该公司已售出约25,000辆全电动野马Mach E汽车。分析师可能更难奖励福特电动汽车的势头。</blockquote></p><p> In 2022, Ford is launching an all-electric F-150. How sales of that vehicle ramp will go a long way in determining how Ford stock performs this coming year. Rising EV sales will be a key factor for Ford investors in 2022—just like rising EV sales are a key factor for Tesla investors every year.</p><p><blockquote>2022年，福特将推出全电动F-150。汽车销量的增长将在很大程度上决定福特股票来年的表现。电动汽车销量的增长将是2022年福特投资者的关键因素——就像电动汽车销量的增长每年都是特斯拉投资者的关键因素一样。</blockquote></p><p> About 54% of analysts covering Ford stock rate share Buy. The average Buy-rating ratio for stocks in the S&P is about 55%. About 48% of analysts covering Tesla stock rate shares Buy.</p><p><blockquote>大约54%的分析师对福特股票评级为买入。标准普尔股票的平均买入评级约为55%。大约48%的研究特斯拉股票的分析师将股票评级为买入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/ford-stock-tesla-evs-51639664981\">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":{"F":"福特汽车"},"source_url":"https://www.barrons.com/articles/ford-stock-tesla-evs-51639664981","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148045391","content_text":"Shares of Ford Motor,surprisingly, have become somewhat controversial on Wall Street headed into 2022. Some analysts are taking their chips off the table, while others are doubling down.\nOn Thursday, Barclays analyst Brian Johnson increased his price target for Ford stock (ticker: F) to $23 from $18 and kept his Buy rating. Johnson believes Ford shares will keep working in 2022 amid low dealer inventories and high vehicle pricing.\nFord stock has had a great 2021 so far. Shares have soared about 131% year to date.\nIt’s the second price target bump for Ford stock in the past couple of days. On Wednesday, Wells Fargo analyst Colin Langan increased his price target to $25 from $19 a share.\nNot everyone is increasingly bullish on the auto maker, though. On Monday, Daiwa analyst Jairam Nathan downgraded the stock to Sell from Hold. Although he did take his price target to $19 from $16 a share.\nAfter all the recent analyst adjustments, Ford price targets now range from $12 to $25 a share. The $13 spread is about 65% of the current share price. The average bull-bear spread for stocks in the Dow is about 48%.\nThree months ago, target prices for Ford stock ranged from about $11 to $18 a share; the $7 spread was about 50% of the current stock price. This all illustrates that Ford stock is getting a little more controversial on Wall Street.\nEven though Wall Street can’t seem to agree on Ford,Tesla (TSLA) remains the king of car-stock controversy. The bull-bear spread for Tesla stock coming from large brokerage firms is about $1,330, or almost 140% of the current stock price.\nOne interpretation of increasing disagreement over Ford stock’s value is that some analysts aren’t sure Ford’s 2021 gains are justified. Ford stock has benefited from improving auto demand and higher vehicle pricing. That part of Ford’s gains likely doesn’t vex analysts. But Ford shares have also gained because of improving electric vehicle sales. The company has sold about 25,000 all-electric Mustang Mach E vehicles so far this year. Ford EV momentum might be harder for analysts to reward.\nIn 2022, Ford is launching an all-electric F-150. How sales of that vehicle ramp will go a long way in determining how Ford stock performs this coming year. Rising EV sales will be a key factor for Ford investors in 2022—just like rising EV sales are a key factor for Tesla investors every year.\nAbout 54% of analysts covering Ford stock rate share Buy. The average Buy-rating ratio for stocks in the S&P is about 55%. About 48% of analysts covering Tesla stock rate shares Buy.","news_type":1,"symbols_score_info":{"F":0.9}},"isVote":1,"tweetType":1,"viewCount":1263,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607740920,"gmtCreate":1639608599617,"gmtModify":1639608599958,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607740920","repostId":"1149717556","repostType":4,"repost":{"id":"1149717556","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639579526,"share":"https://www.laohu8.com/m/news/1149717556?lang=zh_CN&edition=full","pubTime":"2021-12-15 22:45","market":"us","language":"en","title":"Vaccine stocks rose sharply in morning trading, with Vir technology rising over 15% and Novavax rising over 4%<blockquote>疫苗股早盘大涨Vir technology涨超15%Novavax涨超4%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149717556","media":"Tiger Newspress","summary":"Vaccine stocks rose sharply in morning trading, with Vir technology rising over 15% and Novavax risi","content":"<p>Vaccine stocks rose sharply in morning trading, with Vir technology rising over 15% and Novavax rising over 4%.<img src=\"https://static.tigerbbs.com/9fe6a9d4d67542197b8f5233dddb808c\" tg-width=\"287\" tg-height=\"246\" width=\"100%\" height=\"auto\">Vir Biotechnology (VIR) unveiled late Tuesday new preclinical data that demonstrates the impact of the \"significant antigenic shift\" of the new SARS-CoV-2 Omicron variant on neutralizing activity of monoclonal antibodies.</p><p><blockquote>疫苗股早盘大涨，维尔科技涨超15%，诺瓦瓦克斯涨超4%。Vir Biotechnology(VIR)周二晚些时候公布了新的临床前数据，证明了新的新型冠状病毒奥密克戎变种的“显著抗原转变”对单克隆抗体中和活性的影响。</blockquote></p><p> The company said a \"significant\" reduction in plasma neutralizing activity was observed against omicron in sera from vaccinated and convalescent individuals.</p><p><blockquote>该公司表示，在接种疫苗和恢复期个体的血清中观察到针对奥密克戎病毒的血浆中和活性“显着”降低。</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>Vaccine stocks rose sharply in morning trading, with Vir technology rising over 15% and Novavax rising over 4%<blockquote>疫苗股早盘大涨Vir technology涨超15%Novavax涨超4%</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\">\nVaccine stocks rose sharply in morning trading, with Vir technology rising over 15% and Novavax rising over 4%<blockquote>疫苗股早盘大涨Vir technology涨超15%Novavax涨超4%</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\">2021-12-15 22:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Vaccine stocks rose sharply in morning trading, with Vir technology rising over 15% and Novavax rising over 4%.<img src=\"https://static.tigerbbs.com/9fe6a9d4d67542197b8f5233dddb808c\" tg-width=\"287\" tg-height=\"246\" width=\"100%\" height=\"auto\">Vir Biotechnology (VIR) unveiled late Tuesday new preclinical data that demonstrates the impact of the \"significant antigenic shift\" of the new SARS-CoV-2 Omicron variant on neutralizing activity of monoclonal antibodies.</p><p><blockquote>疫苗股早盘大涨，维尔科技涨超15%，诺瓦瓦克斯涨超4%。Vir Biotechnology(VIR)周二晚些时候公布了新的临床前数据，证明了新的新型冠状病毒奥密克戎变种的“显著抗原转变”对单克隆抗体中和活性的影响。</blockquote></p><p> The company said a \"significant\" reduction in plasma neutralizing activity was observed against omicron in sera from vaccinated and convalescent individuals.</p><p><blockquote>该公司表示，在接种疫苗和恢复期个体的血清中观察到针对奥密克戎病毒的血浆中和活性“显着”降低。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVAX":"诺瓦瓦克斯医药","VIR":"Vir Biotechnology, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149717556","content_text":"Vaccine stocks rose sharply in morning trading, with Vir technology rising over 15% and Novavax rising over 4%.Vir Biotechnology (VIR) unveiled late Tuesday new preclinical data that demonstrates the impact of the \"significant antigenic shift\" of the new SARS-CoV-2 Omicron variant on neutralizing activity of monoclonal antibodies.\nThe company said a \"significant\" reduction in plasma neutralizing activity was observed against omicron in sera from vaccinated and convalescent individuals.","news_type":1,"symbols_score_info":{"NVAX":0.9,"VIR":0.9}},"isVote":1,"tweetType":1,"viewCount":1768,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607842559,"gmtCreate":1639528380858,"gmtModify":1639528381203,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607842559","repostId":"1175111161","repostType":4,"repost":{"id":"1175111161","kind":"news","pubTimestamp":1639524053,"share":"https://www.laohu8.com/m/news/1175111161?lang=zh_CN&edition=full","pubTime":"2021-12-15 07:20","market":"us","language":"en","title":"Warren Buffett's Berkshire Hathaway outruns Cathie Wood's Ark Innovation<blockquote>沃伦·巴菲特的伯克希尔·哈撒韦公司超越了凯西·伍德的方舟创新</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175111161","media":"seekingalpha","summary":"In what could be called a tortoise (value) vs. hare (growth) matchup, the tortoise appears to be win","content":"<p>In what could be called a tortoise (value) vs. hare (growth) matchup, the tortoise appears to be winning this year. In the past month, Berkshire Hathaway (BRK.B +1.8%) (BRK.A +1.5%) increases its lead on the more mercurial Ark Innovation ETF (ARKK -3.0%).</p><p><blockquote>在一场可以被称为乌龟（价值）对野兔（增长）的比赛中，乌龟今年似乎会赢。在过去的一个月里，伯克希尔哈撒韦公司(BRK.B+1.8%)(BRK.A+1.5%)扩大了对更加多变的Ark Innovation ETF(ARKK-3.0%)的领先优势。</blockquote></p><p> Of course, Berkshire could be getting a leg up from Apple's (AAPL -1.1%) 17% gain in the past month. Apple is Berkshire's biggest equity holding and made up about half of the investment firm's equity portfolio (as of Dec. 10), according to Business Insider.</p><p><blockquote>当然，伯克希尔哈撒韦可能会从苹果(AAPL-1.1%)过去一个月17%的涨幅中受益。据Business Insider报道，苹果是伯克希尔哈撒韦公司最大的持股，约占伯克希尔哈撒韦公司股票投资组合的一半（截至12月10日）。</blockquote></p><p> In the past month (as of Monday's close), Berkshire's B (NYSE:BRK.B) shares rose 1.4%, exceeding the S&P 500's 0.2% decline and Ark Innovation's (NYSEARCA:ARKK) 20% drop as seen in the graph below.</p><p><blockquote>过去一个月（截至周一收盘），Berkshire B(NYSE：BRK.B)股价上涨1.4%，超过标普500 0.2%的跌幅和Ark Innovation(NYSEARCA：ARKK)20%的跌幅，如下图所示。</blockquote></p><p> Ark Innovation (ARKK) had a sizeable lead on Berkshire in February when retail investors piled into popular stay-at-home trades like Coinbase (NASDAQ:COIN), Roku (NASDAQ:ROKU), Teladoc (NYSE:TDOC), and Zoom Video Communications (NASDAQ:ZM), all stocks included in the ETF.</p><p><blockquote>2月份，当散户投资者涌入Coinbase（纳斯达克股票代码：COIN）、Roku（纳斯达克股票代码：Roku）、Teladoc（纽约证券交易所股票代码：TDOC）等热门居家交易时，Ark Innovation(ARKK)大幅领先伯克希尔哈撒韦公司(ARKK)和Zoom Video通信公司（纳斯达克股票代码：ZM），所有股票均包含在ETF中。</blockquote></p><p> Since then, all four tech names have lagged the S&P 500, with only Coinbase managing a gain for the year.</p><p><blockquote>此后，所有四家科技公司都落后于标普500，只有Coinbase今年实现了上涨。</blockquote></p><p> SA contributor Steven Fiorillo calls Berkshire (BRK.B) a \"complete value opportunity in a market obsessed with growth.\"</p><p><blockquote>SA撰稿人Steven Fiorillo评级Berkshire(BRK.B)“痴迷于增长的市场中的完整价值机会”。</blockquote></p><p> Last week, BofA Securities said long-duration tech is now trading like the post-dot-com bubble in 2000 and 2001.</p><p><blockquote>上周，美国银行证券表示，长期科技股的交易现在就像2000年和2001年互联网泡沫后一样。</blockquote></p><p></p>","source":"lsy1638401102509","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's Berkshire Hathaway outruns Cathie Wood's Ark Innovation<blockquote>沃伦·巴菲特的伯克希尔·哈撒韦公司超越了凯西·伍德的方舟创新</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's Berkshire Hathaway outruns Cathie Wood's Ark Innovation<blockquote>沃伦·巴菲特的伯克希尔·哈撒韦公司超越了凯西·伍德的方舟创新</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-12-15 07:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In what could be called a tortoise (value) vs. hare (growth) matchup, the tortoise appears to be winning this year. In the past month, Berkshire Hathaway (BRK.B +1.8%) (BRK.A +1.5%) increases its lead on the more mercurial Ark Innovation ETF (ARKK -3.0%).</p><p><blockquote>在一场可以被称为乌龟（价值）对野兔（增长）的比赛中，乌龟今年似乎会赢。在过去的一个月里，伯克希尔哈撒韦公司(BRK.B+1.8%)(BRK.A+1.5%)扩大了对更加多变的Ark Innovation ETF(ARKK-3.0%)的领先优势。</blockquote></p><p> Of course, Berkshire could be getting a leg up from Apple's (AAPL -1.1%) 17% gain in the past month. Apple is Berkshire's biggest equity holding and made up about half of the investment firm's equity portfolio (as of Dec. 10), according to Business Insider.</p><p><blockquote>当然，伯克希尔哈撒韦可能会从苹果(AAPL-1.1%)过去一个月17%的涨幅中受益。据Business Insider报道，苹果是伯克希尔哈撒韦公司最大的持股，约占伯克希尔哈撒韦公司股票投资组合的一半（截至12月10日）。</blockquote></p><p> In the past month (as of Monday's close), Berkshire's B (NYSE:BRK.B) shares rose 1.4%, exceeding the S&P 500's 0.2% decline and Ark Innovation's (NYSEARCA:ARKK) 20% drop as seen in the graph below.</p><p><blockquote>过去一个月（截至周一收盘），Berkshire B(NYSE：BRK.B)股价上涨1.4%，超过标普500 0.2%的跌幅和Ark Innovation(NYSEARCA：ARKK)20%的跌幅，如下图所示。</blockquote></p><p> Ark Innovation (ARKK) had a sizeable lead on Berkshire in February when retail investors piled into popular stay-at-home trades like Coinbase (NASDAQ:COIN), Roku (NASDAQ:ROKU), Teladoc (NYSE:TDOC), and Zoom Video Communications (NASDAQ:ZM), all stocks included in the ETF.</p><p><blockquote>2月份，当散户投资者涌入Coinbase（纳斯达克股票代码：COIN）、Roku（纳斯达克股票代码：Roku）、Teladoc（纽约证券交易所股票代码：TDOC）等热门居家交易时，Ark Innovation(ARKK)大幅领先伯克希尔哈撒韦公司(ARKK)和Zoom Video通信公司（纳斯达克股票代码：ZM），所有股票均包含在ETF中。</blockquote></p><p> Since then, all four tech names have lagged the S&P 500, with only Coinbase managing a gain for the year.</p><p><blockquote>此后，所有四家科技公司都落后于标普500，只有Coinbase今年实现了上涨。</blockquote></p><p> SA contributor Steven Fiorillo calls Berkshire (BRK.B) a \"complete value opportunity in a market obsessed with growth.\"</p><p><blockquote>SA撰稿人Steven Fiorillo评级Berkshire(BRK.B)“痴迷于增长的市场中的完整价值机会”。</blockquote></p><p> Last week, BofA Securities said long-duration tech is now trading like the post-dot-com bubble in 2000 and 2001.</p><p><blockquote>上周，美国银行证券表示，长期科技股的交易现在就像2000年和2001年互联网泡沫后一样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3780056-warren-buffetts-berkshire-hathaway-outruns-cathie-woods-ark-innovation\">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":{"ARKK":"ARK Innovation ETF","BRK.A":"伯克希尔"},"source_url":"https://seekingalpha.com/news/3780056-warren-buffetts-berkshire-hathaway-outruns-cathie-woods-ark-innovation","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175111161","content_text":"In what could be called a tortoise (value) vs. hare (growth) matchup, the tortoise appears to be winning this year. In the past month, Berkshire Hathaway (BRK.B +1.8%) (BRK.A +1.5%) increases its lead on the more mercurial Ark Innovation ETF (ARKK -3.0%).\nOf course, Berkshire could be getting a leg up from Apple's (AAPL -1.1%) 17% gain in the past month. Apple is Berkshire's biggest equity holding and made up about half of the investment firm's equity portfolio (as of Dec. 10), according to Business Insider.\nIn the past month (as of Monday's close), Berkshire's B (NYSE:BRK.B) shares rose 1.4%, exceeding the S&P 500's 0.2% decline and Ark Innovation's (NYSEARCA:ARKK) 20% drop as seen in the graph below.\n\nArk Innovation (ARKK) had a sizeable lead on Berkshire in February when retail investors piled into popular stay-at-home trades like Coinbase (NASDAQ:COIN), Roku (NASDAQ:ROKU), Teladoc (NYSE:TDOC), and Zoom Video Communications (NASDAQ:ZM), all stocks included in the ETF.\n\nSince then, all four tech names have lagged the S&P 500, with only Coinbase managing a gain for the year.\nSA contributor Steven Fiorillo calls Berkshire (BRK.B) a \"complete value opportunity in a market obsessed with growth.\"\n\nLast week, BofA Securities said long-duration tech is now trading like the post-dot-com bubble in 2000 and 2001.","news_type":1,"symbols_score_info":{"ARKK":0.9,"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":848,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604487387,"gmtCreate":1639439354439,"gmtModify":1639439354779,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/604487387","repostId":"2191984549","repostType":4,"isVote":1,"tweetType":1,"viewCount":1284,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604834987,"gmtCreate":1639367692641,"gmtModify":1639367692975,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/604834987","repostId":"1130623983","repostType":4,"repost":{"id":"1130623983","kind":"news","pubTimestamp":1639360672,"share":"https://www.laohu8.com/m/news/1130623983?lang=zh_CN&edition=full","pubTime":"2021-12-13 09:57","market":"us","language":"en","title":"Who's to blame for inflation? It's complicated<blockquote>谁该为通货膨胀负责？这很复杂</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130623983","media":"CNN Business","summary":"New York (CNN Business) - President Joe Biden and other politicians will tell you inflation is Corpo","content":"<p><b>New York (CNN Business) </b>- President Joe Biden and other politicians will tell you inflation is Corporate America's fault. Corporate America blames the administration's pandemic assistance programs for putting too much cash into the economy.</p><p><blockquote><b>纽约（CNN商业）</b>——乔·拜登总统和其他政客会告诉你通货膨胀是美国企业的错。美国企业界指责政府的疫情援助计划向经济投入了太多现金。</blockquote></p><p> The reality, economists say, is that it's all of those things. And more.</p><p><blockquote>经济学家说，现实是所有这些事情。还有更多。</blockquote></p><p> On Friday, the consumer price index showed inflation hitting a nearly four-decade high. Prices for goods and services rose 6.8% last month compared with a year earlier — the fastest pace since 1982.</p><p><blockquote>周五，消费者价格指数显示通胀创近四年来新高。上个月商品和服务价格同比上涨6.8%，为1982年以来最快涨幅。</blockquote></p><p> Inflation isn't inherently a bad thing. In the United States, for the past 40 years or so (and the better part of this century), we've been living with an ideal low-and-slow level of inflation that comes with a well-oiled consumer-driven economy, with prices going up around 2% a year, if that. The current surge in prices reflects an economy roaring back to its fighting weight. What concerns economists and policymakers is when prices keep rising, and when wages don't rise in kind.</p><p><blockquote>通货膨胀本质上并不是一件坏事。在美国，在过去40年左右的时间里（以及本世纪的大部分时间里），我们一直生活在理想的低而缓慢的通货膨胀水平下，伴随着一个运转良好的消费者驱动型经济，如果是这样的话，价格每年上涨2%左右。目前的价格飙升反映出经济正在恢复其战斗力。经济学家和政策制定者担心的是价格何时持续上涨，以及工资何时没有实物上涨。</blockquote></p><p> Although wages broadly are also going up, they so far haven't kept pace with the rising costs of food, energy, housing and everyday consumer goods. People are, understandably, frustrated. Although there's no one single culprit to blame, here are some of the forces — Covid-19, greedy businesses, the supply chain crisis, the government — you can take your rage out on.</p><p><blockquote>尽管工资总体上也在上涨，但迄今为止还没有跟上食品、能源、住房和日常消费品成本上涨的步伐。可以理解，人们感到沮丧。虽然没有单一的罪魁祸首，但这里有一些力量——新冠肺炎、贪婪的企业、供应链危机、政府——你可以发泄你的愤怒。</blockquote></p><p> <b>The pandemic</b></p><p><blockquote><b>大流行</b></blockquote></p><p> This is an easy one. The pandemic upended everything about our lives, and when the world shut down in the spring of 2020, it was like pulling the plug on the global economy.</p><p><blockquote>这很简单。疫情颠覆了我们生活的一切，当世界在2020年春天关闭时，就像拔掉了全球经济的插头。</blockquote></p><p> But by that summer, demand for consumer goods started to rebound. Big time. Congress and President Biden passed an historic $1.9 trillion stimulus bill in March that put cash directly in Americans' wallets. And rather than spending money on travel or dining out, we spent on stuff. Lots and lots of it.</p><p><blockquote>但到了那年夏天，消费品需求开始反弹。大时代。国会和拜登总统在3月份通过了历史性的1.9万亿美元刺激法案，将现金直接放入美国人的钱包。我们没有把钱花在旅行或外出就餐上，而是花在了东西上。很多很多。</blockquote></p><p> Demand went from zero to 100, but supplies couldn't bounce back so easily. Factories were on lockdown or navigating Covid-19 restrictions, and raw materials were harder to get because of the sudden swell in demand. Shortages of just about everything cropped up, especially workers to unload goods and drive them to their destination. We're still untangling the mess at ports around the world.</p><p><blockquote>需求从零增加到100，但供应不可能那么容易反弹。工厂被封锁或应对新冠肺炎的限制，由于需求突然激增，原材料更难获得。几乎所有东西都出现了短缺，尤其是卸货并将其运送到目的地的工人。我们仍在清理世界各地港口的混乱局面。</blockquote></p><p> <b>Corporate America</b></p><p><blockquote><b>美国企业界</b></blockquote></p><p> It can feel morally satisfying and politically convenient to blame Corporate America. After all, profit margins are up across industries even as the costs of production have risen.</p><p><blockquote>指责美国企业在道德上是令人满意的，在政治上也是方便的。毕竟，尽管生产成本上升，但各行业的利润率都在上升。</blockquote></p><p> About two-thirds of the largest publicly traded US companies have reported fatter profit margins so far this year than in the same period in 2019, according to the Wall Street Journal. In other words, even as costs for raw materials, labor and transportation have increased in response to the pandemic, a lot big corporations are offsetting those costs by raising prices on consumers.</p><p><blockquote>据《华尔街日报》报道，今年迄今为止，约三分之二的美国最大上市公司的利润率高于2019年同期。换句话说，尽管原材料、劳动力和运输成本因疫情而增加，但许多大公司正在通过提高消费者价格来抵消这些成本。</blockquote></p><p> Although analysts say it's almost impossible to verify how much price increases reflect rising production costs versus a desire to juice profits, companies aren't exactly hiding their price flexes. In fact, some are on record bragging about their \"pricing power\" — corporate-speak for sticking customers with a bigger bill.</p><p><blockquote>尽管分析师表示，几乎不可能核实价格上涨在多大程度上反映了生产成本上升与增加利润的愿望，但公司并没有完全隐藏其价格弹性。事实上，一些人公开吹嘘他们的“定价权”——企业用更大的账单来坚持顾客。</blockquote></p><p> Democrats and consumer advocates are calling these companies out. Earlier this week, Senator Elizabeth Warren blasted Hertz for spending $2 billion on a stock buyback — a common but controversial way to reward shareholders — rather than investing its excess cash in rebuilding its fleet, which could bring down record-high prices for consumers.</p><p><blockquote>民主党人和消费者权益倡导者正在呼吁这些公司。本周早些时候，参议员伊丽莎白·沃伦(Elizabeth Warren)抨击赫兹斥资20亿美元回购股票——这是一种常见但有争议的回报股东的方式——而不是将多余的现金投资于重建车队，这可能会降低消费者创纪录的价格。</blockquote></p><p> Although there's some truth to the argument that corporations are making inflation worse, there is a bigger structural problem underpinning the issue: for decades, lax antitrust enforcement has put the concentration of economic power in the hands of a few giants.</p><p><blockquote>尽管企业加剧通胀的说法有一定道理，但这个问题背后还有一个更大的结构性问题：几十年来，松懈的反垄断执法使经济权力集中在少数巨头手中。</blockquote></p><p> \"Viewed this way, the underlying problem isn't inflation per se. It's lack of competition,\" wrote Robert Reich, a former US secretary of labor,in an op-ed for the Guardian last month. \"Corporations are using the excuse of inflation to raise prices and make fatter profits.\"</p><p><blockquote>“从这个角度来看，根本问题不在于通胀本身。而是缺乏竞争，”美国前劳工部长罗伯特·赖克上个月在《卫报》的一篇专栏文章中写道。“企业以通货膨胀为借口提高价格并赚取更多利润。”</blockquote></p><p> <b>The Biden Administration</b></p><p><blockquote><b>拜登政府</b></blockquote></p><p> Republicans have been hammering Democrats and the Biden White House on inflation.</p><p><blockquote>共和党人一直在通胀问题上抨击民主党和拜登白宫。</blockquote></p><p> After Friday's price index report came out, Senate Minority Leader Mitch McConnell wasted no time when it came to pointing fingers. \"It is unthinkable that Senate Democrats would try to respond to this inflation report by ramming through another massive socialist spending package in a matter of days,\" he tweeted.</p><p><blockquote>周五的价格指数报告出来后，参议院少数党领袖米奇·麦康奈尔立即指责。他在推特上写道：“难以想象的是，参议院民主党人会试图在几天内通过另一项大规模的社会主义支出计划来回应这份通胀报告。”</blockquote></p><p> It's true that government spending boosts inflation, but economists have pushed back on the idea that Biden's ambitious social safety net expansion will inflame price surges. \"Worries that the plan will ignite undesirably high inflation and an overheating economy are overdone,\" Mark Zandi, the chief economist at Moody's Analytics, said in July.</p><p><blockquote>诚然，政府支出会推高通胀，但经济学家反驳了拜登雄心勃勃的社会安全网扩张将加剧物价飙升的观点。穆迪分析首席经济学家马克·赞迪(Mark Zandi)7月份表示：“对该计划将引发不良的高通胀和经济过热的担忧有些过头了。”</blockquote></p><p></p><p> Moody's analysts noted that government spending on items such as rental housing for low-income Americans, reducing prescription drug costs and making childcare more affordable is aimed at cooling off prices and easing shortages.</p><p><blockquote>穆迪分析师指出，政府在低收入美国人的租赁住房、降低处方药成本和让儿童保育更实惠等项目上的支出旨在冷却价格并缓解短缺。</blockquote></p><p> Republicans blaming inflation on Biden are also conveniently forgetting the trillions of dollars in spending passed in 2020 supported by Republicans and signed by then-President Donald Trump, which economists say have also contributed to inflation.</p><p><blockquote>将通胀归咎于拜登的共和党人也很容易忘记了2020年通过的由共和党支持并由时任总统唐纳德·特朗普签署的数万亿美元支出，经济学家表示，这些支出也导致了通胀。</blockquote></p><p> <b>The Fed</b></p><p><blockquote><b>美联储</b></blockquote></p><p> Money has essentially been free for the past year and a half, thanks to the Fed's double-barrel shotgun approach to economic stimulus — interest rates near zero and a massive investment in bonds that keeps yields near rock-bottom.</p><p><blockquote>在过去的一年半里，资金基本上是免费的，这要归功于美联储对经济刺激采取的双管猎枪方法——利率接近于零，并对债券进行大规模投资，使收益率保持在接近最低水平。</blockquote></p><p> That stimulus has staved off a lot of financial and economic pain, and was always meant to be temporary. But for months the Fed brushed off inflation concerns, vaguely dubbing price surges \"transitory\" before that word became almost comically devoid of meaning.</p><p><blockquote>这种刺激措施避免了许多金融和经济痛苦，而且总是暂时的。但几个月来，美联储对通胀担忧置之不理，模糊地将价格飙升称为“暂时的”，然后这个词变得几乎滑稽地毫无意义。</blockquote></p><p> The Fed is finally tapping the breaks. Last month, Chairman Jerome Powell told Congress \"the economy is very strong and inflationary pressures are high,\" so it would be appropriate to consider tapering its asset purchases more aggressively.</p><p><blockquote>美联储终于抓住了突破口。上个月，主席杰罗姆·鲍威尔告诉国会，“经济非常强劲，通胀压力很大”，因此考虑更积极地缩减资产购买是合适的。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Who's to blame for inflation? It's complicated<blockquote>谁该为通货膨胀负责？这很复杂</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\">\nWho's to blame for inflation? It's complicated<blockquote>谁该为通货膨胀负责？这很复杂</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-12-13 09:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business) </b>- President Joe Biden and other politicians will tell you inflation is Corporate America's fault. Corporate America blames the administration's pandemic assistance programs for putting too much cash into the economy.</p><p><blockquote><b>纽约（CNN商业）</b>——乔·拜登总统和其他政客会告诉你通货膨胀是美国企业的错。美国企业界指责政府的疫情援助计划向经济投入了太多现金。</blockquote></p><p> The reality, economists say, is that it's all of those things. And more.</p><p><blockquote>经济学家说，现实是所有这些事情。还有更多。</blockquote></p><p> On Friday, the consumer price index showed inflation hitting a nearly four-decade high. Prices for goods and services rose 6.8% last month compared with a year earlier — the fastest pace since 1982.</p><p><blockquote>周五，消费者价格指数显示通胀创近四年来新高。上个月商品和服务价格同比上涨6.8%，为1982年以来最快涨幅。</blockquote></p><p> Inflation isn't inherently a bad thing. In the United States, for the past 40 years or so (and the better part of this century), we've been living with an ideal low-and-slow level of inflation that comes with a well-oiled consumer-driven economy, with prices going up around 2% a year, if that. The current surge in prices reflects an economy roaring back to its fighting weight. What concerns economists and policymakers is when prices keep rising, and when wages don't rise in kind.</p><p><blockquote>通货膨胀本质上并不是一件坏事。在美国，在过去40年左右的时间里（以及本世纪的大部分时间里），我们一直生活在理想的低而缓慢的通货膨胀水平下，伴随着一个运转良好的消费者驱动型经济，如果是这样的话，价格每年上涨2%左右。目前的价格飙升反映出经济正在恢复其战斗力。经济学家和政策制定者担心的是价格何时持续上涨，以及工资何时没有实物上涨。</blockquote></p><p> Although wages broadly are also going up, they so far haven't kept pace with the rising costs of food, energy, housing and everyday consumer goods. People are, understandably, frustrated. Although there's no one single culprit to blame, here are some of the forces — Covid-19, greedy businesses, the supply chain crisis, the government — you can take your rage out on.</p><p><blockquote>尽管工资总体上也在上涨，但迄今为止还没有跟上食品、能源、住房和日常消费品成本上涨的步伐。可以理解，人们感到沮丧。虽然没有单一的罪魁祸首，但这里有一些力量——新冠肺炎、贪婪的企业、供应链危机、政府——你可以发泄你的愤怒。</blockquote></p><p> <b>The pandemic</b></p><p><blockquote><b>大流行</b></blockquote></p><p> This is an easy one. The pandemic upended everything about our lives, and when the world shut down in the spring of 2020, it was like pulling the plug on the global economy.</p><p><blockquote>这很简单。疫情颠覆了我们生活的一切，当世界在2020年春天关闭时，就像拔掉了全球经济的插头。</blockquote></p><p> But by that summer, demand for consumer goods started to rebound. Big time. Congress and President Biden passed an historic $1.9 trillion stimulus bill in March that put cash directly in Americans' wallets. And rather than spending money on travel or dining out, we spent on stuff. Lots and lots of it.</p><p><blockquote>但到了那年夏天，消费品需求开始反弹。大时代。国会和拜登总统在3月份通过了历史性的1.9万亿美元刺激法案，将现金直接放入美国人的钱包。我们没有把钱花在旅行或外出就餐上，而是花在了东西上。很多很多。</blockquote></p><p> Demand went from zero to 100, but supplies couldn't bounce back so easily. Factories were on lockdown or navigating Covid-19 restrictions, and raw materials were harder to get because of the sudden swell in demand. Shortages of just about everything cropped up, especially workers to unload goods and drive them to their destination. We're still untangling the mess at ports around the world.</p><p><blockquote>需求从零增加到100，但供应不可能那么容易反弹。工厂被封锁或应对新冠肺炎的限制，由于需求突然激增，原材料更难获得。几乎所有东西都出现了短缺，尤其是卸货并将其运送到目的地的工人。我们仍在清理世界各地港口的混乱局面。</blockquote></p><p> <b>Corporate America</b></p><p><blockquote><b>美国企业界</b></blockquote></p><p> It can feel morally satisfying and politically convenient to blame Corporate America. After all, profit margins are up across industries even as the costs of production have risen.</p><p><blockquote>指责美国企业在道德上是令人满意的，在政治上也是方便的。毕竟，尽管生产成本上升，但各行业的利润率都在上升。</blockquote></p><p> About two-thirds of the largest publicly traded US companies have reported fatter profit margins so far this year than in the same period in 2019, according to the Wall Street Journal. In other words, even as costs for raw materials, labor and transportation have increased in response to the pandemic, a lot big corporations are offsetting those costs by raising prices on consumers.</p><p><blockquote>据《华尔街日报》报道，今年迄今为止，约三分之二的美国最大上市公司的利润率高于2019年同期。换句话说，尽管原材料、劳动力和运输成本因疫情而增加，但许多大公司正在通过提高消费者价格来抵消这些成本。</blockquote></p><p> Although analysts say it's almost impossible to verify how much price increases reflect rising production costs versus a desire to juice profits, companies aren't exactly hiding their price flexes. In fact, some are on record bragging about their \"pricing power\" — corporate-speak for sticking customers with a bigger bill.</p><p><blockquote>尽管分析师表示，几乎不可能核实价格上涨在多大程度上反映了生产成本上升与增加利润的愿望，但公司并没有完全隐藏其价格弹性。事实上，一些人公开吹嘘他们的“定价权”——企业用更大的账单来坚持顾客。</blockquote></p><p> Democrats and consumer advocates are calling these companies out. Earlier this week, Senator Elizabeth Warren blasted Hertz for spending $2 billion on a stock buyback — a common but controversial way to reward shareholders — rather than investing its excess cash in rebuilding its fleet, which could bring down record-high prices for consumers.</p><p><blockquote>民主党人和消费者权益倡导者正在呼吁这些公司。本周早些时候，参议员伊丽莎白·沃伦(Elizabeth Warren)抨击赫兹斥资20亿美元回购股票——这是一种常见但有争议的回报股东的方式——而不是将多余的现金投资于重建车队，这可能会降低消费者创纪录的价格。</blockquote></p><p> Although there's some truth to the argument that corporations are making inflation worse, there is a bigger structural problem underpinning the issue: for decades, lax antitrust enforcement has put the concentration of economic power in the hands of a few giants.</p><p><blockquote>尽管企业加剧通胀的说法有一定道理，但这个问题背后还有一个更大的结构性问题：几十年来，松懈的反垄断执法使经济权力集中在少数巨头手中。</blockquote></p><p> \"Viewed this way, the underlying problem isn't inflation per se. It's lack of competition,\" wrote Robert Reich, a former US secretary of labor,in an op-ed for the Guardian last month. \"Corporations are using the excuse of inflation to raise prices and make fatter profits.\"</p><p><blockquote>“从这个角度来看，根本问题不在于通胀本身。而是缺乏竞争，”美国前劳工部长罗伯特·赖克上个月在《卫报》的一篇专栏文章中写道。“企业以通货膨胀为借口提高价格并赚取更多利润。”</blockquote></p><p> <b>The Biden Administration</b></p><p><blockquote><b>拜登政府</b></blockquote></p><p> Republicans have been hammering Democrats and the Biden White House on inflation.</p><p><blockquote>共和党人一直在通胀问题上抨击民主党和拜登白宫。</blockquote></p><p> After Friday's price index report came out, Senate Minority Leader Mitch McConnell wasted no time when it came to pointing fingers. \"It is unthinkable that Senate Democrats would try to respond to this inflation report by ramming through another massive socialist spending package in a matter of days,\" he tweeted.</p><p><blockquote>周五的价格指数报告出来后，参议院少数党领袖米奇·麦康奈尔立即指责。他在推特上写道：“难以想象的是，参议院民主党人会试图在几天内通过另一项大规模的社会主义支出计划来回应这份通胀报告。”</blockquote></p><p> It's true that government spending boosts inflation, but economists have pushed back on the idea that Biden's ambitious social safety net expansion will inflame price surges. \"Worries that the plan will ignite undesirably high inflation and an overheating economy are overdone,\" Mark Zandi, the chief economist at Moody's Analytics, said in July.</p><p><blockquote>诚然，政府支出会推高通胀，但经济学家反驳了拜登雄心勃勃的社会安全网扩张将加剧物价飙升的观点。穆迪分析首席经济学家马克·赞迪(Mark Zandi)7月份表示：“对该计划将引发不良的高通胀和经济过热的担忧有些过头了。”</blockquote></p><p></p><p> Moody's analysts noted that government spending on items such as rental housing for low-income Americans, reducing prescription drug costs and making childcare more affordable is aimed at cooling off prices and easing shortages.</p><p><blockquote>穆迪分析师指出，政府在低收入美国人的租赁住房、降低处方药成本和让儿童保育更实惠等项目上的支出旨在冷却价格并缓解短缺。</blockquote></p><p> Republicans blaming inflation on Biden are also conveniently forgetting the trillions of dollars in spending passed in 2020 supported by Republicans and signed by then-President Donald Trump, which economists say have also contributed to inflation.</p><p><blockquote>将通胀归咎于拜登的共和党人也很容易忘记了2020年通过的由共和党支持并由时任总统唐纳德·特朗普签署的数万亿美元支出，经济学家表示，这些支出也导致了通胀。</blockquote></p><p> <b>The Fed</b></p><p><blockquote><b>美联储</b></blockquote></p><p> Money has essentially been free for the past year and a half, thanks to the Fed's double-barrel shotgun approach to economic stimulus — interest rates near zero and a massive investment in bonds that keeps yields near rock-bottom.</p><p><blockquote>在过去的一年半里，资金基本上是免费的，这要归功于美联储对经济刺激采取的双管猎枪方法——利率接近于零，并对债券进行大规模投资，使收益率保持在接近最低水平。</blockquote></p><p> That stimulus has staved off a lot of financial and economic pain, and was always meant to be temporary. But for months the Fed brushed off inflation concerns, vaguely dubbing price surges \"transitory\" before that word became almost comically devoid of meaning.</p><p><blockquote>这种刺激措施避免了许多金融和经济痛苦，而且总是暂时的。但几个月来，美联储对通胀担忧置之不理，模糊地将价格飙升称为“暂时的”，然后这个词变得几乎滑稽地毫无意义。</blockquote></p><p> The Fed is finally tapping the breaks. Last month, Chairman Jerome Powell told Congress \"the economy is very strong and inflationary pressures are high,\" so it would be appropriate to consider tapering its asset purchases more aggressively.</p><p><blockquote>美联储终于抓住了突破口。上个月，主席杰罗姆·鲍威尔告诉国会，“经济非常强劲，通胀压力很大”，因此考虑更积极地缩减资产购买是合适的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/12/12/economy/inflation-blame-pandemic-biden-corporations/index.html\">CNN Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://edition.cnn.com/2021/12/12/economy/inflation-blame-pandemic-biden-corporations/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130623983","content_text":"New York (CNN Business) - President Joe Biden and other politicians will tell you inflation is Corporate America's fault. Corporate America blames the administration's pandemic assistance programs for putting too much cash into the economy.\nThe reality, economists say, is that it's all of those things. And more.\nOn Friday, the consumer price index showed inflation hitting a nearly four-decade high. Prices for goods and services rose 6.8% last month compared with a year earlier — the fastest pace since 1982.\nInflation isn't inherently a bad thing. In the United States, for the past 40 years or so (and the better part of this century), we've been living with an ideal low-and-slow level of inflation that comes with a well-oiled consumer-driven economy, with prices going up around 2% a year, if that. The current surge in prices reflects an economy roaring back to its fighting weight. What concerns economists and policymakers is when prices keep rising, and when wages don't rise in kind.\nAlthough wages broadly are also going up, they so far haven't kept pace with the rising costs of food, energy, housing and everyday consumer goods. People are, understandably, frustrated. Although there's no one single culprit to blame, here are some of the forces — Covid-19, greedy businesses, the supply chain crisis, the government — you can take your rage out on.\nThe pandemic\nThis is an easy one. The pandemic upended everything about our lives, and when the world shut down in the spring of 2020, it was like pulling the plug on the global economy.\nBut by that summer, demand for consumer goods started to rebound. Big time. Congress and President Biden passed an historic $1.9 trillion stimulus bill in March that put cash directly in Americans' wallets. And rather than spending money on travel or dining out, we spent on stuff. Lots and lots of it.\nDemand went from zero to 100, but supplies couldn't bounce back so easily. Factories were on lockdown or navigating Covid-19 restrictions, and raw materials were harder to get because of the sudden swell in demand. Shortages of just about everything cropped up, especially workers to unload goods and drive them to their destination. We're still untangling the mess at ports around the world.\nCorporate America\nIt can feel morally satisfying and politically convenient to blame Corporate America. After all, profit margins are up across industries even as the costs of production have risen.\nAbout two-thirds of the largest publicly traded US companies have reported fatter profit margins so far this year than in the same period in 2019, according to the Wall Street Journal. In other words, even as costs for raw materials, labor and transportation have increased in response to the pandemic, a lot big corporations are offsetting those costs by raising prices on consumers.\nAlthough analysts say it's almost impossible to verify how much price increases reflect rising production costs versus a desire to juice profits, companies aren't exactly hiding their price flexes. In fact, some are on record bragging about their \"pricing power\" — corporate-speak for sticking customers with a bigger bill.\nDemocrats and consumer advocates are calling these companies out. Earlier this week, Senator Elizabeth Warren blasted Hertz for spending $2 billion on a stock buyback — a common but controversial way to reward shareholders — rather than investing its excess cash in rebuilding its fleet, which could bring down record-high prices for consumers.\nAlthough there's some truth to the argument that corporations are making inflation worse, there is a bigger structural problem underpinning the issue: for decades, lax antitrust enforcement has put the concentration of economic power in the hands of a few giants.\n\"Viewed this way, the underlying problem isn't inflation per se. It's lack of competition,\" wrote Robert Reich, a former US secretary of labor,in an op-ed for the Guardian last month. \"Corporations are using the excuse of inflation to raise prices and make fatter profits.\"\nThe Biden Administration\nRepublicans have been hammering Democrats and the Biden White House on inflation.\nAfter Friday's price index report came out, Senate Minority Leader Mitch McConnell wasted no time when it came to pointing fingers. \"It is unthinkable that Senate Democrats would try to respond to this inflation report by ramming through another massive socialist spending package in a matter of days,\" he tweeted.\nIt's true that government spending boosts inflation, but economists have pushed back on the idea that Biden's ambitious social safety net expansion will inflame price surges. \"Worries that the plan will ignite undesirably high inflation and an overheating economy are overdone,\" Mark Zandi, the chief economist at Moody's Analytics, said in July.\nMoody's analysts noted that government spending on items such as rental housing for low-income Americans, reducing prescription drug costs and making childcare more affordable is aimed at cooling off prices and easing shortages.\nRepublicans blaming inflation on Biden are also conveniently forgetting the trillions of dollars in spending passed in 2020 supported by Republicans and signed by then-President Donald Trump, which economists say have also contributed to inflation.\nThe Fed\nMoney has essentially been free for the past year and a half, thanks to the Fed's double-barrel shotgun approach to economic stimulus — interest rates near zero and a massive investment in bonds that keeps yields near rock-bottom.\nThat stimulus has staved off a lot of financial and economic pain, and was always meant to be temporary. But for months the Fed brushed off inflation concerns, vaguely dubbing price surges \"transitory\" before that word became almost comically devoid of meaning.\nThe Fed is finally tapping the breaks. Last month, Chairman Jerome Powell told Congress \"the economy is very strong and inflationary pressures are high,\" so it would be appropriate to consider tapering its asset purchases more aggressively.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1215,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":804201023,"gmtCreate":1627956462662,"gmtModify":1633754903237,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/804201023","repostId":"2156114224","repostType":4,"isVote":1,"tweetType":1,"viewCount":655,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":845030430,"gmtCreate":1636251124277,"gmtModify":1636251124757,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/845030430","repostId":"2181374735","repostType":4,"isVote":1,"tweetType":1,"viewCount":634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":854555565,"gmtCreate":1635470023983,"gmtModify":1635470100175,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/854555565","repostId":"2179291938","repostType":4,"isVote":1,"tweetType":1,"viewCount":512,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":830015697,"gmtCreate":1628993233419,"gmtModify":1633688127653,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/830015697","repostId":"2159145532","repostType":4,"isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179469940,"gmtCreate":1626571867980,"gmtModify":1633925824945,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/179469940","repostId":"1183956332","repostType":4,"isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":699464477,"gmtCreate":1639878831098,"gmtModify":1639878831482,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/699464477","repostId":"2192754259","repostType":4,"isVote":1,"tweetType":1,"viewCount":870,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":876382804,"gmtCreate":1637271802095,"gmtModify":1637271802252,"author":{"id":"3574808684684286","authorId":"3574808684684286","name":"DirtyGreen","avatar":"https://static.tigerbbs.com/fa007b8422fe75437cf1ad74252b636a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574808684684286","authorIdStr":"3574808684684286"},"themes":[],"htmlText":"Wow","listText":"Wow","tex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09:28","market":"us","language":"en","title":"SEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC提起首起DeFi未注册证券诉讼</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180529438","media":"Benzinga","summary":"The United States Securities and Exchange Commission sued the organization responsible for the development of a decentralized finance protocol over activities involved with the project for the first time.What Happened: According to a Friday SEC announcement, the agency has sued Cayman Islands-based Blockchain Credit Partners and two of its top executives over allegedly selling unregistered securities through its DeFi Money Market platform from February 2020 to February 2021. The firm purported","content":"<p><div> The United States Securities and Exchange Commission (SEC) sued the organization responsible for the development of a decentralized finance (DeFi) protocol over activities involved with the project ...</p><p><blockquote><div>美国证券交易委员会（SEC）就该项目涉及的活动起诉了负责开发分散金融（DeFi）协议的组织...</div></blockquote></p><p> <a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页链接</a> </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC提起首起DeFi未注册证券诉讼</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC提起首起DeFi未注册证券诉讼</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-08 09:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The United States Securities and Exchange Commission (SEC) sued the organization responsible for the development of a decentralized finance (DeFi) protocol over activities involved with the project ...</p><p><blockquote><div>美国证券交易委员会（SEC）就该项目涉及的活动起诉了负责开发分散金融（DeFi）协议的组织...</div></blockquote></p><p> <a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页链接</a> </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180529438","content_text":"The United States Securities and Exchange Commission (SEC) sued the organization responsible for the development of a decentralized finance (DeFi) protocol over activities involved with the project for the first time.\nWhat Happened: According to a Friday SEC announcement, the agency has sued Cayman Islands-based Blockchain Credit Partners and two of its top executives over allegedly selling unregistered securities through its DeFi Money Market platform from February 2020 to February 2021. The firm purportedly sold over $30 million worth of two types of tokens that the SEC deemed to be securities that should have been registered as such.\nThe SEC notes that Blockchain Credit Partners founders Gregory Keough and Derek Acree will have to pay fines of $125,000 while the company itself also agreed to pay $12.8 million in disgorgement. The settlement does not indicate an admition or denial the accusations.\nNew Game, Old Rules?\nSEC Enforcement Director Gurbir Grewal explained that \"full and honest disclosure remains the cornerstone of our securities laws — no matter what technologies are used to offer and sell those securities.\" This comment makes it very clear that slapping the DeFi label on a project and hoping to avoid regulation this way works no better than calling it a \"utility token\" prevented falling under the SEC's scrutiny during 2017's initial coin offering craze.\nThe SEC is trying to send the clear rule that the new kind of financial organizations that operate on blockchains have to still play by the old rules that govern traditional finance. At the same time, market onlookers are not sure if the regulator is actually right.\nIn a way, it is a tour de force where the regulator wins every time it has a way to take enforcement action, but these new organizations potentially have a very real way to make enforcement impossible — or at the very least impractical. The only protection against enforcement by the SEC and other regulators is decentralization and the only reason why the SEC was able to act in this case is that a centralized organization such as Blockchain Credit Partners exists.\nWhat's Next:If no company exists and all that there is to a DeFi protocol is a set of smart contracts deployed on a blockchain by a group of anonymous developers scattered around the world there is very little that the SEC can do short of attacking the blockchain itself. This is where the decentralization of the underlying blockchain comes into play: will the regulators for instance be able to force Ethereum's (CRYPTO: ETH) core development team to write an update stopping such a project?\nIf the regulators would actually be able to force the blockchain's developers to write such an update, would node operators and miners or stakers adopt this software or would they refuse to? Such situations will be the real test of the decentralization and reliability of any blockchain that many are waiting to happen. Regulators are seeing power slipping away between their fingers like sand, and they are going to try to grab it.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":392,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
