Zasper的个人主页 - 老虎社区

Zasper

Zasper

暂无个人介绍

IP属地：未知

343关注

7粉丝

0主题

0勋章

2022-01-26

Jialat liao

AMC in Advanced Talks to Refinance Debt as Meme-Stock Luster Fades<blockquote>随着模因股票光彩消退，AMC 正在就债务再融资进行谈判</blockquote>

2022-01-23

Ok

抱歉，原内容已删除

2022-01-17

Ok

Day Traders as ‘Dumb Money’? The Pros Are Now Paying Attention<blockquote>日内交易者是“傻钱”？专业人士现在正在关注</blockquote>

2022-01-16

Ok

抱歉，原内容已删除

2022-01-15

Why my post can't be seen?

抱歉，原内容已删除

2022-01-15

Weird

Morgan Stanley Promotes Biggest Class of Managing Directors Since 2012<blockquote>摩根士丹利晋升自 2012 年以来最大规模的董事总经理</blockquote>

2022-01-15

Haha

*麦格理首予小鹏汽车－Ｗ(09868)跑赢大市评级目标价221港元

2021-12-28

K

抱歉，原内容已删除

2021-12-27

Ok

Santa Claus Rally watch: What to know this week<blockquote>圣诞老人集会手表：本周须知</blockquote>

2021-12-26

Ok

抱歉，原内容已删除

2021-12-26

Yeah

抱歉，原内容已删除

2021-12-24

Ok

Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事株式会社早期押注电动汽车初创公司Rivian，大获全胜</blockquote>

2021-12-23

Good hor

抱歉，原内容已删除

2021-12-22

Hehe

抱歉，原内容已删除

2021-12-21

Ok

抱歉，原内容已删除

2021-12-19

Ok

抱歉，原内容已删除

2021-12-17

Sad

抱歉，原内容已删除

2021-12-16

Haha those who bought it will disagree

抱歉，原内容已删除

2021-12-15

Lol

PayPal Holdings: Buying This Dip Will Make You Pay Pal<blockquote>PayPal控股：逢低买入会让你付出代价</blockquote>

2021-12-14

Like

抱歉，原内容已删除

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3575188860884045","uuid":"3575188860884045","gmtCreate":1612095789504,"gmtModify":1627570422921,"name":"Zasper","pinyin":"zasper","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":7,"headSize":343,"tweetSize":126,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-4","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"明星虎友","description":"加入老虎社区2000天","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.07.25","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.01.02","exceedPercentage":"93.59%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"228c86a078844d74991fff2b7ab2428d-2","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资总监虎","description":"证券账户累计交易金额达到30万美元","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"80.05%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":12,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":639392941,"gmtCreate":1643160101805,"gmtModify":1643160102014,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Jialat liao&nbsp;","listText":"Jialat liao&nbsp;","text":"Jialat liao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/639392941","repostId":"1111320468","repostType":4,"repost":{"id":"1111320468","kind":"news","pubTimestamp":1643152276,"share":"https://www.laohunote.com/m/news/1111320468?lang=zh_CN&edition=full","pubTime":"2022-01-26 07:11","market":"us","language":"en","title":"AMC in Advanced Talks to Refinance Debt as Meme-Stock Luster Fades<blockquote>随着模因股票光彩消退，AMC 正在就债务再融资进行谈判</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111320468","media":"The Wall Street Journal","summary":"As AMC shares and bonds fall, the cinema giant is in active discussions to refinance its high-intere","content":"<p><html><head></head><body>As AMC shares and bonds fall, the cinema giant is in active discussions to refinance its high-interest debt, people familiar with the matter said</p><p><blockquote><html><head></head><body>知情人士称，随着 AMC 股票和债券下跌，这家电影巨头正在积极讨论为其高息债务再融资</body></html></blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8bbd83fd4b253c1c0c2ce62fec75beec\" tg-width=\"860\" tg-height=\"573\" width=\"100%\" height=\"auto\"/><span>AMC shares have fallen 41% this year through Tuesday’s market close.</span></p><p><blockquote><p class=\"t-img-caption\"><span>截至周二收盘，AMC 股价今年以来已下跌 41%。</span></p></blockquote></p><p>AMC Entertainment Holdings Inc. is stepping up its efforts to refinance some of its debt as the cinema chain’s shares and bonds have slumped, giving up most of their gains since the company became a meme-stock favorite.</p><p><blockquote>AMC院线控股公司正在加紧努力为部分债务进行再融资，因为这家连锁影院的股票和债券都暴跌，放弃了自该公司成为备忘录股票以来的大部分收益。</blockquote></p><p>AMC is in advanced refinancing talks with multiple interested parties, according to people familiar with the matter who said the company has options to lower its interest burden and stretch out maturities by several years.</p><p><blockquote>据知情人士透露，AMC 正在与多个利益相关方进行深入再融资谈判，他们表示，该公司可以选择降低利息负担并将期限延长数年。</blockquote></p><p>Chief Executive Adam Aron said earlier this year that in 2022 he would like to refinance the expensive debt the company took on to outlast the pandemic. The selloff in AMC’s bonds might make refinancing more difficult, especially as the Federal Reserve prepares to raise rates, according to financial analysts.</p><p><blockquote>首席执行官亚当·阿伦 (Adam Aron) 今年早些时候表示，他希望在 2022 年对公司为度过疫情而承担的昂贵债务进行再融资。金融分析师认为，AMC 债券的抛售可能会使再融资更加困难，尤其是在美联储准备加息的情况下。</blockquote></p><p>AMC’s stock has declined by 41% this year through Tuesday’s market close, a steeper drop than the broader market selloff hitting stocks and cryptocurrencies. While the company’s bonds had previously held up even as its shares slipped, on Monday the bonds dropped by several points. That indicates that even creditors, who enjoy a greater degree of protection from losses than stockholders, are getting skittish about the business.</p><p><blockquote>截至周二收盘，AMC 的股价今年已下跌 41%，跌幅超过了股票和加密货币的大盘抛售。虽然该公司债券此前在股价下跌的情况下一直保持不变，但周一债券下跌了几个点。这表明，即使是比股东享有更大程度的免受损失保护的债权人，也对这项业务感到不安。</blockquote></p><p>AMC isn’t targeting all of its debt stack for refinancing, just some of its bonds that carry especially high interest, one of the people familiar with the matter said. Even if the decline in AMC’s bond prices caused their yields to rise, the company may still be able to strike a deal that would cut interest expense compared with what it pays now, the person said.</p><p><blockquote>一位熟悉内情的人士说，AMC 并没有将其全部债务进行再融资，只是对部分利息特别高的债券进行再融资。该人士说，即使 AMC 的债券价格下跌导致其收益率上升，该公司仍有可能达成一项交易，与现在支付的利息支出相比，削减利息支出。</blockquote></p><p>AMC had $5.5 billion of debt as of September that ranks ahead of the equity, including high-interest bonds, and owed $376 million of lease payments that were deferred during the pandemic.</p><p><blockquote>截至 9 月份，AMC 的债务高于股本，其中包括高息债券，并且欠下 3.76 亿美元的租赁付款，这些付款在大流行期间被推迟。</blockquote></p><p>On Tuesday, AMC’s $1.5 billion in secured 10% bonds due 2026 traded as low as 92 cents on the dollar, down from 99.5 cents at the start of the year. Another bond with less collateral protection traded as low as 69 cents on the dollar on Monday, down from 72 cents in early January, according to MarketAxess.</p><p><blockquote>本周二，AMC 于 2026 年到期的 15 亿美元有担保的 10% 债券兑美元汇率低至 92 美分，低于年初的 99.5 美分。根据 MarketAxess 的数据，另一种抵押品保护较少的债券周一兑美元汇率低至 69 美分，低于 1 月初的 72 美分。</blockquote></p><p>In early 2021, AMC became a darling of individual investors, many of whom refer to themselves as the apes.They helped push AMC’s stock price to eye-popping heights through meme-heavy social-media hype, and they came to own more than 80% of the company.</p><p><blockquote>2021年初，AMC成为个人投资者的宠儿，其中许多人自称为猿猴。他们通过充斥着备忘录的社交媒体炒作，帮助将 AMC 的股价推向了令人瞠目结舌的高度，并拥有了该公司 80% 以上的股份。</blockquote></p><p>“At first it was a very well-defined and purposeful anti-Wall Street type movement,” said Chad Beynon, an analyst at Macquarie Group Ltd., regarding the ape community. “That story is no longer as attractive. After seeing it not working for a few months, there’s some sort of fatigue.”</p><p><blockquote>“麦格理集团有限公司（Macquarie Group Ltd.）分析师查德-贝农（Chad Beynon）在谈到猿类社区时说：”起初，这是一场定义明确、目的明确的反华尔街类型的运动。“那个故事不再那么有吸引力了。看到它几个月都不起作用，就会有一种疲劳”。</blockquote></p><p>AMC, as well as its peers in the cinema business, continue to struggle with getting customers into their theaters as the pandemic drags on. While the film “Spider-Man: No Way Home” was a recent hit for the theater industry, box-office revenue for the latest weekend amounted to a mere $46 million, compared with $123 million the same weekend in 2020, and $104 million in 2019, according to Comscore data.</p><p><blockquote>随着疫情的持续，AMC 及其电影行业的同行继续努力吸引顾客进入他们的影院。根据 Comscore 的数据，虽然电影《蜘蛛侠：无路可退》最近在影院行业大受欢迎，但最近一个周末的票房收入仅为 4600 万美元，而 2020 年同一周末的票房收入为 1.23 亿美元，2019 年为 1.04 亿美元。</blockquote></p><p>Since the Covid-19 pandemic began, AMC has stayed alive by a combination of selling new shares, taking on new debt and getting landlords to agree to delay collecting rent payments. But the apes’ takeover of AMC has restricted its options for dealing with the debts it took on to get through the worst of the pandemic lockdowns.</p><p><blockquote>自 Covid-19 大流行开始以来，AMC 通过出售新股、承担新债务以及让房东同意推迟收取租金等多种方式得以生存。但是，apes 对 AMC 的收购限制了其处理债务的选择，以度过最严重的大流行病封锁期。</blockquote></p><p>Last year, AMC twice failed to win shareholder approval of new equity issuances as apes fretted about dilution, despite Mr. Aron lobbying to allow for more shares to be sold. Now the company isn’t able to issue stock to pay down debt, said Michael Pachter, an analyst at Wedbush Securities.</p><p><blockquote>去年，尽管阿伦先生游说允许出售更多股票，但 AMC 两次未能获得股东对新股票发行的批准，因为 apes 担心稀释。韦德布什证券公司（Wedbush Securities）分析师迈克尔-帕切特（Michael Pachter）说，现在该公司无法发行股票来偿还债务。</blockquote></p><p>“The shareholders blew that,” Mr. Pachter said.</p><p><blockquote>“帕切特先生说：”股东们搞砸了。</blockquote></p><p>Despite the sliding share price, some apes are holding on, viewing their commitment to AMC as an act of defiance against the hedge funds and Wall Street institutions that bet against the stock by short selling it. The ape community has also become a forum for opposition to a financial system they believe stacks the deck against individual investors.</p><p><blockquote>尽管股价下滑，但一些猿类仍在坚持，将他们对 AMC 的承诺视为对对冲基金和华尔街机构通过卖空该股票来做空该股票的一种反抗行为。ape社区也成为反对金融体系的论坛，他们认为金融体系对个人投资者不利。</blockquote></p><p>Anton Torres, a cable technician in Washington state who bought stock in AMC last January, said that he and the other apes he knows are holding on to their shares because they believe that AMC’s stock price might rise again.</p><p><blockquote>安东-托雷斯（Anton Torres）是华盛顿州的一名有线电视技术员，去年 1 月购买了 AMC 的股票，他说，他和他认识的其他猿猴之所以持有股票，是因为他们相信 AMC 的股价可能会再次上涨。</blockquote></p><p>“I’m holding hoping the value increases, but I’m also holding because it’s bringing awareness to a system that is poorly regulated and I like the stock,” Mr. Torres said.</p><p><blockquote>“托雷斯先生说：”我持有股票是希望股价上涨，但我持有股票也是因为它能让人们意识到监管不力的系统，我喜欢这只股票。</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>AMC in Advanced Talks to Refinance Debt as Meme-Stock Luster Fades<blockquote>随着模因股票光彩消退，AMC 正在就债务再融资进行谈判</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC in Advanced Talks to Refinance Debt as Meme-Stock Luster Fades<blockquote>随着模因股票光彩消退，AMC 正在就债务再融资进行谈判</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2022-01-26 07:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>As AMC shares and bonds fall, the cinema giant is in active discussions to refinance its high-interest debt, people familiar with the matter said</p><p><blockquote><html><head></head><body>知情人士称，随着 AMC 股票和债券下跌，这家电影巨头正在积极讨论为其高息债务再融资</body></html></blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8bbd83fd4b253c1c0c2ce62fec75beec\" tg-width=\"860\" tg-height=\"573\" width=\"100%\" height=\"auto\"/><span>AMC shares have fallen 41% this year through Tuesday’s market close.</span></p><p><blockquote><p class=\"t-img-caption\"><span>截至周二收盘，AMC 股价今年以来已下跌 41%。</span></p></blockquote></p><p>AMC Entertainment Holdings Inc. is stepping up its efforts to refinance some of its debt as the cinema chain’s shares and bonds have slumped, giving up most of their gains since the company became a meme-stock favorite.</p><p><blockquote>AMC院线控股公司正在加紧努力为部分债务进行再融资，因为这家连锁影院的股票和债券都暴跌，放弃了自该公司成为备忘录股票以来的大部分收益。</blockquote></p><p>AMC is in advanced refinancing talks with multiple interested parties, according to people familiar with the matter who said the company has options to lower its interest burden and stretch out maturities by several years.</p><p><blockquote>据知情人士透露，AMC 正在与多个利益相关方进行深入再融资谈判，他们表示，该公司可以选择降低利息负担并将期限延长数年。</blockquote></p><p>Chief Executive Adam Aron said earlier this year that in 2022 he would like to refinance the expensive debt the company took on to outlast the pandemic. The selloff in AMC’s bonds might make refinancing more difficult, especially as the Federal Reserve prepares to raise rates, according to financial analysts.</p><p><blockquote>首席执行官亚当·阿伦 (Adam Aron) 今年早些时候表示，他希望在 2022 年对公司为度过疫情而承担的昂贵债务进行再融资。金融分析师认为，AMC 债券的抛售可能会使再融资更加困难，尤其是在美联储准备加息的情况下。</blockquote></p><p>AMC’s stock has declined by 41% this year through Tuesday’s market close, a steeper drop than the broader market selloff hitting stocks and cryptocurrencies. While the company’s bonds had previously held up even as its shares slipped, on Monday the bonds dropped by several points. That indicates that even creditors, who enjoy a greater degree of protection from losses than stockholders, are getting skittish about the business.</p><p><blockquote>截至周二收盘，AMC 的股价今年已下跌 41%，跌幅超过了股票和加密货币的大盘抛售。虽然该公司债券此前在股价下跌的情况下一直保持不变，但周一债券下跌了几个点。这表明，即使是比股东享有更大程度的免受损失保护的债权人，也对这项业务感到不安。</blockquote></p><p>AMC isn’t targeting all of its debt stack for refinancing, just some of its bonds that carry especially high interest, one of the people familiar with the matter said. Even if the decline in AMC’s bond prices caused their yields to rise, the company may still be able to strike a deal that would cut interest expense compared with what it pays now, the person said.</p><p><blockquote>一位熟悉内情的人士说，AMC 并没有将其全部债务进行再融资，只是对部分利息特别高的债券进行再融资。该人士说，即使 AMC 的债券价格下跌导致其收益率上升，该公司仍有可能达成一项交易，与现在支付的利息支出相比，削减利息支出。</blockquote></p><p>AMC had $5.5 billion of debt as of September that ranks ahead of the equity, including high-interest bonds, and owed $376 million of lease payments that were deferred during the pandemic.</p><p><blockquote>截至 9 月份，AMC 的债务高于股本，其中包括高息债券，并且欠下 3.76 亿美元的租赁付款，这些付款在大流行期间被推迟。</blockquote></p><p>On Tuesday, AMC’s $1.5 billion in secured 10% bonds due 2026 traded as low as 92 cents on the dollar, down from 99.5 cents at the start of the year. Another bond with less collateral protection traded as low as 69 cents on the dollar on Monday, down from 72 cents in early January, according to MarketAxess.</p><p><blockquote>本周二，AMC 于 2026 年到期的 15 亿美元有担保的 10% 债券兑美元汇率低至 92 美分，低于年初的 99.5 美分。根据 MarketAxess 的数据，另一种抵押品保护较少的债券周一兑美元汇率低至 69 美分，低于 1 月初的 72 美分。</blockquote></p><p>In early 2021, AMC became a darling of individual investors, many of whom refer to themselves as the apes.They helped push AMC’s stock price to eye-popping heights through meme-heavy social-media hype, and they came to own more than 80% of the company.</p><p><blockquote>2021年初，AMC成为个人投资者的宠儿，其中许多人自称为猿猴。他们通过充斥着备忘录的社交媒体炒作，帮助将 AMC 的股价推向了令人瞠目结舌的高度，并拥有了该公司 80% 以上的股份。</blockquote></p><p>“At first it was a very well-defined and purposeful anti-Wall Street type movement,” said Chad Beynon, an analyst at Macquarie Group Ltd., regarding the ape community. “That story is no longer as attractive. After seeing it not working for a few months, there’s some sort of fatigue.”</p><p><blockquote>“麦格理集团有限公司（Macquarie Group Ltd.）分析师查德-贝农（Chad Beynon）在谈到猿类社区时说：”起初，这是一场定义明确、目的明确的反华尔街类型的运动。“那个故事不再那么有吸引力了。看到它几个月都不起作用，就会有一种疲劳”。</blockquote></p><p>AMC, as well as its peers in the cinema business, continue to struggle with getting customers into their theaters as the pandemic drags on. While the film “Spider-Man: No Way Home” was a recent hit for the theater industry, box-office revenue for the latest weekend amounted to a mere $46 million, compared with $123 million the same weekend in 2020, and $104 million in 2019, according to Comscore data.</p><p><blockquote>随着疫情的持续，AMC 及其电影行业的同行继续努力吸引顾客进入他们的影院。根据 Comscore 的数据，虽然电影《蜘蛛侠：无路可退》最近在影院行业大受欢迎，但最近一个周末的票房收入仅为 4600 万美元，而 2020 年同一周末的票房收入为 1.23 亿美元，2019 年为 1.04 亿美元。</blockquote></p><p>Since the Covid-19 pandemic began, AMC has stayed alive by a combination of selling new shares, taking on new debt and getting landlords to agree to delay collecting rent payments. But the apes’ takeover of AMC has restricted its options for dealing with the debts it took on to get through the worst of the pandemic lockdowns.</p><p><blockquote>自 Covid-19 大流行开始以来，AMC 通过出售新股、承担新债务以及让房东同意推迟收取租金等多种方式得以生存。但是，apes 对 AMC 的收购限制了其处理债务的选择，以度过最严重的大流行病封锁期。</blockquote></p><p>Last year, AMC twice failed to win shareholder approval of new equity issuances as apes fretted about dilution, despite Mr. Aron lobbying to allow for more shares to be sold. Now the company isn’t able to issue stock to pay down debt, said Michael Pachter, an analyst at Wedbush Securities.</p><p><blockquote>去年，尽管阿伦先生游说允许出售更多股票，但 AMC 两次未能获得股东对新股票发行的批准，因为 apes 担心稀释。韦德布什证券公司（Wedbush Securities）分析师迈克尔-帕切特（Michael Pachter）说，现在该公司无法发行股票来偿还债务。</blockquote></p><p>“The shareholders blew that,” Mr. Pachter said.</p><p><blockquote>“帕切特先生说：”股东们搞砸了。</blockquote></p><p>Despite the sliding share price, some apes are holding on, viewing their commitment to AMC as an act of defiance against the hedge funds and Wall Street institutions that bet against the stock by short selling it. The ape community has also become a forum for opposition to a financial system they believe stacks the deck against individual investors.</p><p><blockquote>尽管股价下滑，但一些猿类仍在坚持，将他们对 AMC 的承诺视为对对冲基金和华尔街机构通过卖空该股票来做空该股票的一种反抗行为。ape社区也成为反对金融体系的论坛，他们认为金融体系对个人投资者不利。</blockquote></p><p>Anton Torres, a cable technician in Washington state who bought stock in AMC last January, said that he and the other apes he knows are holding on to their shares because they believe that AMC’s stock price might rise again.</p><p><blockquote>安东-托雷斯（Anton Torres）是华盛顿州的一名有线电视技术员，去年 1 月购买了 AMC 的股票，他说，他和他认识的其他猿猴之所以持有股票，是因为他们相信 AMC 的股价可能会再次上涨。</blockquote></p><p>“I’m holding hoping the value increases, but I’m also holding because it’s bringing awareness to a system that is poorly regulated and I like the stock,” Mr. Torres said.</p><p><blockquote>“托雷斯先生说：”我持有股票是希望股价上涨，但我持有股票也是因为它能让人们意识到监管不力的系统，我喜欢这只股票。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/amc-in-advanced-talks-to-refinance-debt-as-meme-stock-luster-fades-11643121676?mod=lead_feature_below_a_pos1\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-in-advanced-talks-to-refinance-debt-as-meme-stock-luster-fades-11643121676?mod=lead_feature_below_a_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111320468","content_text":"As AMC shares and bonds fall, the cinema giant is in active discussions to refinance its high-interest debt, people familiar with the matter saidAMC shares have fallen 41% this year through Tuesday’s market close.AMC Entertainment Holdings Inc. is stepping up its efforts to refinance some of its debt as the cinema chain’s shares and bonds have slumped, giving up most of their gains since the company became a meme-stock favorite.AMC is in advanced refinancing talks with multiple interested parties, according to people familiar with the matter who said the company has options to lower its interest burden and stretch out maturities by several years.Chief Executive Adam Aron said earlier this year that in 2022 he would like to refinance the expensive debt the company took on to outlast the pandemic. The selloff in AMC’s bonds might make refinancing more difficult, especially as the Federal Reserve prepares to raise rates, according to financial analysts.AMC’s stock has declined by 41% this year through Tuesday’s market close, a steeper drop than the broader market selloff hitting stocks and cryptocurrencies. While the company’s bonds had previously held up even as its shares slipped, on Monday the bonds dropped by several points. That indicates that even creditors, who enjoy a greater degree of protection from losses than stockholders, are getting skittish about the business.AMC isn’t targeting all of its debt stack for refinancing, just some of its bonds that carry especially high interest, one of the people familiar with the matter said. Even if the decline in AMC’s bond prices caused their yields to rise, the company may still be able to strike a deal that would cut interest expense compared with what it pays now, the person said.AMC had $5.5 billion of debt as of September that ranks ahead of the equity, including high-interest bonds, and owed $376 million of lease payments that were deferred during the pandemic.On Tuesday, AMC’s $1.5 billion in secured 10% bonds due 2026 traded as low as 92 cents on the dollar, down from 99.5 cents at the start of the year. Another bond with less collateral protection traded as low as 69 cents on the dollar on Monday, down from 72 cents in early January, according to MarketAxess.In early 2021, AMC became a darling of individual investors, many of whom refer to themselves as the apes.They helped push AMC’s stock price to eye-popping heights through meme-heavy social-media hype, and they came to own more than 80% of the company.“At first it was a very well-defined and purposeful anti-Wall Street type movement,” said Chad Beynon, an analyst at Macquarie Group Ltd., regarding the ape community. “That story is no longer as attractive. After seeing it not working for a few months, there’s some sort of fatigue.”AMC, as well as its peers in the cinema business, continue to struggle with getting customers into their theaters as the pandemic drags on. While the film “Spider-Man: No Way Home” was a recent hit for the theater industry, box-office revenue for the latest weekend amounted to a mere $46 million, compared with $123 million the same weekend in 2020, and $104 million in 2019, according to Comscore data.Since the Covid-19 pandemic began, AMC has stayed alive by a combination of selling new shares, taking on new debt and getting landlords to agree to delay collecting rent payments. But the apes’ takeover of AMC has restricted its options for dealing with the debts it took on to get through the worst of the pandemic lockdowns.Last year, AMC twice failed to win shareholder approval of new equity issuances as apes fretted about dilution, despite Mr. Aron lobbying to allow for more shares to be sold. Now the company isn’t able to issue stock to pay down debt, said Michael Pachter, an analyst at Wedbush Securities.“The shareholders blew that,” Mr. Pachter said.Despite the sliding share price, some apes are holding on, viewing their commitment to AMC as an act of defiance against the hedge funds and Wall Street institutions that bet against the stock by short selling it. The ape community has also become a forum for opposition to a financial system they believe stacks the deck against individual investors.Anton Torres, a cable technician in Washington state who bought stock in AMC last January, said that he and the other apes he knows are holding on to their shares because they believe that AMC’s stock price might rise again.“I’m holding hoping the value increases, but I’m also holding because it’s bringing awareness to a system that is poorly regulated and I like the stock,” Mr. Torres said.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":3711,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":630228276,"gmtCreate":1642919493367,"gmtModify":1642919493488,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/630228276","repostId":"2205024969","repostType":4,"isVote":1,"tweetType":1,"viewCount":3300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697121059,"gmtCreate":1642379402392,"gmtModify":1642379402504,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/697121059","repostId":"1115241947","repostType":4,"repost":{"id":"1115241947","kind":"news","pubTimestamp":1642376164,"share":"https://www.laohunote.com/m/news/1115241947?lang=zh_CN&edition=full","pubTime":"2022-01-17 07:36","market":"us","language":"en","title":"Day Traders as ‘Dumb Money’? The Pros Are Now Paying Attention<blockquote>日内交易者是“傻钱”？专业人士现在正在关注</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115241947","media":"The Wall Street Journal","summary":"Last year, amateur investors took financial markets by storm. This year, Wall Street professionals a","content":"<p><html><head></head><body>Last year, amateur investors took financial markets by storm. This year, Wall Street professionals are watching them closely.</p><p><blockquote><html><head></head><body>去年，业余投资者席卷金融市场。今年，华尔街专业人士正在密切关注他们。</body></html></blockquote></p><p>Fund managers who might have once derided small-time day traders as “dumb money” are scouring social-media posts for clues about where the herd might veer next. Some 85% of hedge funds and 42% of asset managers are now tracking retail-trading message boards, according to a survey by Bloomberg Intelligence.</p><p><blockquote>曾经嘲笑短期日内交易者是 “傻钱 ”的基金经理们正在社交媒体帖子中寻找下一步可能走向的线索。根据彭博资讯的一项调查，大约85%的对冲基金和42%的资产管理公司现在正在跟踪零售交易留言板。</blockquote></p><p>JPMorgan Chase &amp; Co. in September introduced a new data product that includes information on which securities individual investors are likely buying and selling, as well as which sectors and stocks are being talked about on social media. About 50 clients, including some of the largest asset and quant managers, are testing the product, the bank says. JPMorgan equity traders are also using it to help manage their own risk.</p><p><blockquote>摩根大通公司 (JPMorgan Chase &amp; Co.) 9 月份推出了一款新的数据产品，其中包括个人投资者可能买卖哪些证券，以及社交媒体上正在讨论哪些行业和股票的信息。该银行表示，包括一些最大的资产和量化管理公司在内的约 50 家客户正在测试该产品。摩根大通股票交易员也在使用它来帮助管理自己的风险。</blockquote></p><p>“The flow from retail is not something you can ignore if you are a professional investor,” says Chris Berthe, JPMorgan’s global co-head of cash equities trading. “It’s a whole new investor class that has emerged, and it’s an investor class that’s actually getting themes right.”</p><p><blockquote>“摩根大通现金股票交易全球联席主管克里斯-贝尔特（Chris Berthe）说：”如果你是一名专业投资者，零售业的资金流就不容忽视。“这是一个全新的投资者阶层，而且是一个真正把主题做对的投资者阶层”。</blockquote></p><p>The shift illustrates just how much the rookies have changed the investing landscape. A year ago, market observers were questioning if the retail revolution would continue. Now many are asking what it will look like this year.</p><p><blockquote>这种转变说明了新手对投资格局的改变有多大。一年前，市场观察人士还在质疑零售革命是否会继续下去。现在很多人问今年会是什么样子。</blockquote></p><p>After shying away from active investing for much of the past decade, millions of Americans, hunkered down at home because of Covid-19, became day traders in 2020. Enticed by volatile markets and phone apps that made it free to trade stocks, they flocked to social media for investing ideas. That year, they piled into stocks like Hertz Global Holdings Inc. (and ultimately were rewarded when the car-rental company exited bankruptcy). It is estimated that more than 10 million individual investors opened new brokerage accounts in 2020, according to Devin Ryan, director of financial-technology research at JMP Securities.</p><p><blockquote>在过去十年的大部分时间里回避积极投资后，数百万因 Covid-19 而窝在家里的美国人在 2020 年成为了日内交易者。受到波动的市场和可以自由交易股票的手机应用程序的吸引，他们涌向社交媒体寻求投资想法。那一年，他们大量买入了赫兹全球控股公司（Hertz Global Holdings Inc.）等股票（最终在汽车租赁公司摆脱破产后获得了回报）。JMP Securities 金融科技研究总监 Devin Ryan 表示，据估计，2020 年将有超过 1000 万个人投资者开设新的经纪账户。</blockquote></p><p><b>Avoiding Crowds</b></p><p><blockquote><b>避开人群</b></blockquote></p><p>The total number of stocks with at least $10 million in short interest rose last year, but the number of the most heavily shorted stocks declined.</p><p><blockquote>去年空头利息至少为1000万美元的股票总数有所上升，但空头最严重的股票数量有所下降。</blockquote></p><p>Last year the trends from 2020 accelerated. JMP Securities estimates that a further 15 million Americans signed up for brokerage accounts in 2021. Social-media forums became increasingly used for trading. Some individual investors used their growing numbers to send stocks including GameStop Corp. and AMC Entertainment Holdings Inc. flying. Many newbies relished in inflicting steep losses on some hedge funds and demonstrating that traditional playbooks aren’t the only way to win.</p><p><blockquote>去年，2020 年的趋势加速。JMP Securities 估计，2021 年将有 1500 万美国人注册经纪账户。社交媒体论坛越来越多地用于交易。一些个人投资者利用他们不断增长的数量，让包括游戏驿站公司和AMC院线控股公司在内的股票飞涨。许多新手乐于给一些对冲基金造成巨额损失，并证明传统策略并不是唯一的制胜之道。</blockquote></p><p>Investments that made little sense on paper became valuable in 2021 because day traders declared them so. Joke cryptocurrencies such as dogecoin—up more than 1,900% in the past year based on late Friday levels—minted self-proclaimed millionaires. A market for nonfungible tokens (NFTs), or digital images of items such as bored-ape avatars, exploded.</p><p><blockquote>纸面上毫无意义的投资在 2021 年变得有价值，因为日内交易者宣称它们是有价值的。狗狗币等笑话加密货币——根据周五晚间的水平，过去一年上涨了 1,900% 以上——造就了自称百万富翁的人。不可替代代币（NFT）或无聊猿头像等物品的数字图像的市场爆炸式增长。</blockquote></p><p>JPMorgan estimates that individual investors accounted for more than a third of daily trading activity several times over the past 18 months, reaching nearly 40% of shares traded on peak days.</p><p><blockquote>摩根大通估计，在过去18个月中，个人投资者多次占到每日交易活动的三分之一以上，达到高峰日交易股票的近40%。</blockquote></p><p>To be sure, many of the newbies lost money. Some took on debt without understanding what they were doing, leaving them vulnerable to steep losses when stock prices fell. Riskier investing strategies, including options trading, exploded. Many amateur investors bought into buzzy shares near the top of rallies, only to watch the prices rapidly plummet.</p><p><blockquote>可以肯定的是，很多新手都赔了钱。有些人在不了解自己在做什么的情况下举债，这使得他们在股价下跌时容易遭受巨大损失。包括期权交易在内的风险较高的投资策略呈爆炸式增长。许多业余投资者在涨势顶部附近买入热门股票，却眼睁睁地看着价格迅速暴跌。</blockquote></p><p>Individual traders in 2021 purchased a net $292 billion of U.S. stocks and exchange-traded funds, according to Vanda Research’s VandaTrack platform, which tracks and sells data on the purchases of U.S. equities by individual investors. That is more than seven times the amount in 2019. Individual investors so far appear poised to continue similar levels of buying activity in 2022.</p><p><blockquote>根据 Vanda Research 的 VandaTrack 平台的数据，2021 年个人交易者净购买了 2920 亿美元的美国股票和交易所交易基金。这是2019年的七倍多。到目前为止，个人投资者似乎准备在 2022 年继续类似水平的购买活动。</blockquote></p><p>Analysts expect a bumpier road ahead for U.S. stocks this year, and some money managers believe that any prolonged volatility could wash individual investors out of the market. Many say that today’s activity resembles the late 1990s, when individual investors piled into trading only to flee when the dot-com bubble burst.</p><p><blockquote>分析师预计美国股市今年的道路将更加崎岖，一些基金经理认为，任何长期的波动都可能将个人投资者赶出市场。许多人说，今天的交易活动类似于 20 世纪 90 年代末，当时个人投资者蜂拥而至进行交易，但当网络泡沫破裂时却逃离。</blockquote></p><p>So far, individual investors have shown a strong stomach for bumpy days. Last year, the group’s eight largest buying days by dollar volume occurred when the S&amp;P 500 sank 1.3% or more, VandaTrack data show. Several academic papers have found that individual investors have at times helped stabilize markets, providing liquidity in times of volatility.</p><p><blockquote>到目前为止，个人投资者对坎坷的日子表现出了强烈的胃口。VandaTrack 数据显示，去年，该集团以美元成交量计算的八个最大买入日都发生在标普500下跌 1.3% 或更多时。一些学术论文发现，个人投资者有时有助于稳定市场，在波动时期提供流动性。</blockquote></p><p><b>The big names notice</b></p><p><blockquote><b>大牌通知</b></blockquote></p><p>By some accounts, the newbie investors have already altered some professional investors’ trading strategies. One way in particular: the way some make bearish bets.</p><p><blockquote>根据一些说法，新手投资者已经改变了一些专业投资者的交易策略。特别是一种方式：一些人下看跌赌注的方式。</blockquote></p><p></p><p>Meme stocks like GameStop had high levels of short interest before they caught the attention of Reddit traders. That means that other investors—usually professionals, like hedge funds—were betting those stocks would fall. When shorting a stock, an investor borrows shares of a company and sells them, hoping to buy them back later at a lower price.</p><p><blockquote>像游戏驿站这样的模因股票在引起 Reddit 交易者的注意之前就拥有很高的空头兴趣。这意味着其他投资者——通常是对冲基金等专业人士——押注这些股票将会下跌。做空股票时，投资者借入公司股票并出售，希望以后以较低的价格回购。</blockquote></p><p>When the amateurs sent GameStop and other stocks soaring, the short sellers were sometimes forced to buy back shares, often at much higher prices.</p><p><blockquote>当业余爱好者让游戏驿站和其他股票飙升时，卖空者有时被迫回购股票，而且往往价格要高得多。</blockquote></p><p>These days, investors are avoiding taking big chances with their short-selling plays, according to an analysis by Ihor Dusaniwsky. He is head of predictive analytics at S3 Partners, a technology and data analytics firm that closely tracks activity by short sellers.</p><p><blockquote>根据 Ihor Dusaniwsky 的分析，如今投资者正在避免通过卖空策略冒险。他是 S3 Partners 预测分析主管，S3 Partners 是一家技术和数据分析公司，密切跟踪卖空者的活动。</blockquote></p><p>Just seven stocks in the U.S. market had short interest of 40% or more at the end of 2021, according to his analysis of stocks where at least $10 million of shares had been sold short. That was down from 40 stocks at the beginning of January 2020 and 19 stocks in January 2021. And unlike the previous periods, no stocks in his analysis had short interest of 70% or more at the end of 2021.</p><p><blockquote>根据他对至少有 1000 万美元股票被卖空的分析，截至 2021 年底，美国市场只有 7 只股票的空头权益达到或超过 40%。这一数字低于 2020 年 1 月初的 40 只股票和 2021 年 1 月的 19 只股票。与前几个时期不同的是，在他的分析中，2021 年底没有任何股票的空头权益达到或超过 70%。</blockquote></p><p>Last year, S3 started offering new tools that tell clients which stocks have crowded levels of short interest and which could leave them vulnerable to sudden losses if individual investors pile in.</p><p><blockquote>去年，S3 开始提供新工具，告诉客户哪些股票拥有拥挤的空头兴趣水平，以及如果个人投资者涌入，哪些股票可能会使他们容易遭受突然损失。</blockquote></p><p>“In the back of every hedge fund’s mind is, ‘I don’t want to be on the wrong side of a meme-stock play,’ ” Mr. Dusaniwsky says. “It’s a full-time job to make sure you don’t get hit by a bus.”</p><p><blockquote>“杜萨尼夫斯基先生说：”在每家对冲基金的脑海中，'我不想站在迷因股票的错误一边。“这是一份全职工作，确保你不会被公交车撞到。”</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>Day Traders as ‘Dumb Money’? The Pros Are Now Paying Attention<blockquote>日内交易者是“傻钱”？专业人士现在正在关注</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\">\nDay Traders as ‘Dumb Money’? The Pros Are Now Paying Attention<blockquote>日内交易者是“傻钱”？专业人士现在正在关注</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2022-01-17 07:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Last year, amateur investors took financial markets by storm. This year, Wall Street professionals are watching them closely.</p><p><blockquote><html><head></head><body>去年，业余投资者席卷金融市场。今年，华尔街专业人士正在密切关注他们。</body></html></blockquote></p><p>Fund managers who might have once derided small-time day traders as “dumb money” are scouring social-media posts for clues about where the herd might veer next. Some 85% of hedge funds and 42% of asset managers are now tracking retail-trading message boards, according to a survey by Bloomberg Intelligence.</p><p><blockquote>曾经嘲笑短期日内交易者是 “傻钱 ”的基金经理们正在社交媒体帖子中寻找下一步可能走向的线索。根据彭博资讯的一项调查，大约85%的对冲基金和42%的资产管理公司现在正在跟踪零售交易留言板。</blockquote></p><p>JPMorgan Chase &amp; Co. in September introduced a new data product that includes information on which securities individual investors are likely buying and selling, as well as which sectors and stocks are being talked about on social media. About 50 clients, including some of the largest asset and quant managers, are testing the product, the bank says. JPMorgan equity traders are also using it to help manage their own risk.</p><p><blockquote>摩根大通公司 (JPMorgan Chase &amp; Co.) 9 月份推出了一款新的数据产品，其中包括个人投资者可能买卖哪些证券，以及社交媒体上正在讨论哪些行业和股票的信息。该银行表示，包括一些最大的资产和量化管理公司在内的约 50 家客户正在测试该产品。摩根大通股票交易员也在使用它来帮助管理自己的风险。</blockquote></p><p>“The flow from retail is not something you can ignore if you are a professional investor,” says Chris Berthe, JPMorgan’s global co-head of cash equities trading. “It’s a whole new investor class that has emerged, and it’s an investor class that’s actually getting themes right.”</p><p><blockquote>“摩根大通现金股票交易全球联席主管克里斯-贝尔特（Chris Berthe）说：”如果你是一名专业投资者，零售业的资金流就不容忽视。“这是一个全新的投资者阶层，而且是一个真正把主题做对的投资者阶层”。</blockquote></p><p>The shift illustrates just how much the rookies have changed the investing landscape. A year ago, market observers were questioning if the retail revolution would continue. Now many are asking what it will look like this year.</p><p><blockquote>这种转变说明了新手对投资格局的改变有多大。一年前，市场观察人士还在质疑零售革命是否会继续下去。现在很多人问今年会是什么样子。</blockquote></p><p>After shying away from active investing for much of the past decade, millions of Americans, hunkered down at home because of Covid-19, became day traders in 2020. Enticed by volatile markets and phone apps that made it free to trade stocks, they flocked to social media for investing ideas. That year, they piled into stocks like Hertz Global Holdings Inc. (and ultimately were rewarded when the car-rental company exited bankruptcy). It is estimated that more than 10 million individual investors opened new brokerage accounts in 2020, according to Devin Ryan, director of financial-technology research at JMP Securities.</p><p><blockquote>在过去十年的大部分时间里回避积极投资后，数百万因 Covid-19 而窝在家里的美国人在 2020 年成为了日内交易者。受到波动的市场和可以自由交易股票的手机应用程序的吸引，他们涌向社交媒体寻求投资想法。那一年，他们大量买入了赫兹全球控股公司（Hertz Global Holdings Inc.）等股票（最终在汽车租赁公司摆脱破产后获得了回报）。JMP Securities 金融科技研究总监 Devin Ryan 表示，据估计，2020 年将有超过 1000 万个人投资者开设新的经纪账户。</blockquote></p><p><b>Avoiding Crowds</b></p><p><blockquote><b>避开人群</b></blockquote></p><p>The total number of stocks with at least $10 million in short interest rose last year, but the number of the most heavily shorted stocks declined.</p><p><blockquote>去年空头利息至少为1000万美元的股票总数有所上升，但空头最严重的股票数量有所下降。</blockquote></p><p>Last year the trends from 2020 accelerated. JMP Securities estimates that a further 15 million Americans signed up for brokerage accounts in 2021. Social-media forums became increasingly used for trading. Some individual investors used their growing numbers to send stocks including GameStop Corp. and AMC Entertainment Holdings Inc. flying. Many newbies relished in inflicting steep losses on some hedge funds and demonstrating that traditional playbooks aren’t the only way to win.</p><p><blockquote>去年，2020 年的趋势加速。JMP Securities 估计，2021 年将有 1500 万美国人注册经纪账户。社交媒体论坛越来越多地用于交易。一些个人投资者利用他们不断增长的数量，让包括游戏驿站公司和AMC院线控股公司在内的股票飞涨。许多新手乐于给一些对冲基金造成巨额损失，并证明传统策略并不是唯一的制胜之道。</blockquote></p><p>Investments that made little sense on paper became valuable in 2021 because day traders declared them so. Joke cryptocurrencies such as dogecoin—up more than 1,900% in the past year based on late Friday levels—minted self-proclaimed millionaires. A market for nonfungible tokens (NFTs), or digital images of items such as bored-ape avatars, exploded.</p><p><blockquote>纸面上毫无意义的投资在 2021 年变得有价值，因为日内交易者宣称它们是有价值的。狗狗币等笑话加密货币——根据周五晚间的水平，过去一年上涨了 1,900% 以上——造就了自称百万富翁的人。不可替代代币（NFT）或无聊猿头像等物品的数字图像的市场爆炸式增长。</blockquote></p><p>JPMorgan estimates that individual investors accounted for more than a third of daily trading activity several times over the past 18 months, reaching nearly 40% of shares traded on peak days.</p><p><blockquote>摩根大通估计，在过去18个月中，个人投资者多次占到每日交易活动的三分之一以上，达到高峰日交易股票的近40%。</blockquote></p><p>To be sure, many of the newbies lost money. Some took on debt without understanding what they were doing, leaving them vulnerable to steep losses when stock prices fell. Riskier investing strategies, including options trading, exploded. Many amateur investors bought into buzzy shares near the top of rallies, only to watch the prices rapidly plummet.</p><p><blockquote>可以肯定的是，很多新手都赔了钱。有些人在不了解自己在做什么的情况下举债，这使得他们在股价下跌时容易遭受巨大损失。包括期权交易在内的风险较高的投资策略呈爆炸式增长。许多业余投资者在涨势顶部附近买入热门股票，却眼睁睁地看着价格迅速暴跌。</blockquote></p><p>Individual traders in 2021 purchased a net $292 billion of U.S. stocks and exchange-traded funds, according to Vanda Research’s VandaTrack platform, which tracks and sells data on the purchases of U.S. equities by individual investors. That is more than seven times the amount in 2019. Individual investors so far appear poised to continue similar levels of buying activity in 2022.</p><p><blockquote>根据 Vanda Research 的 VandaTrack 平台的数据，2021 年个人交易者净购买了 2920 亿美元的美国股票和交易所交易基金。这是2019年的七倍多。到目前为止，个人投资者似乎准备在 2022 年继续类似水平的购买活动。</blockquote></p><p>Analysts expect a bumpier road ahead for U.S. stocks this year, and some money managers believe that any prolonged volatility could wash individual investors out of the market. Many say that today’s activity resembles the late 1990s, when individual investors piled into trading only to flee when the dot-com bubble burst.</p><p><blockquote>分析师预计美国股市今年的道路将更加崎岖，一些基金经理认为，任何长期的波动都可能将个人投资者赶出市场。许多人说，今天的交易活动类似于 20 世纪 90 年代末，当时个人投资者蜂拥而至进行交易，但当网络泡沫破裂时却逃离。</blockquote></p><p>So far, individual investors have shown a strong stomach for bumpy days. Last year, the group’s eight largest buying days by dollar volume occurred when the S&amp;P 500 sank 1.3% or more, VandaTrack data show. Several academic papers have found that individual investors have at times helped stabilize markets, providing liquidity in times of volatility.</p><p><blockquote>到目前为止，个人投资者对坎坷的日子表现出了强烈的胃口。VandaTrack 数据显示，去年，该集团以美元成交量计算的八个最大买入日都发生在标普500下跌 1.3% 或更多时。一些学术论文发现，个人投资者有时有助于稳定市场，在波动时期提供流动性。</blockquote></p><p><b>The big names notice</b></p><p><blockquote><b>大牌通知</b></blockquote></p><p>By some accounts, the newbie investors have already altered some professional investors’ trading strategies. One way in particular: the way some make bearish bets.</p><p><blockquote>根据一些说法，新手投资者已经改变了一些专业投资者的交易策略。特别是一种方式：一些人下看跌赌注的方式。</blockquote></p><p></p><p>Meme stocks like GameStop had high levels of short interest before they caught the attention of Reddit traders. That means that other investors—usually professionals, like hedge funds—were betting those stocks would fall. When shorting a stock, an investor borrows shares of a company and sells them, hoping to buy them back later at a lower price.</p><p><blockquote>像游戏驿站这样的模因股票在引起 Reddit 交易者的注意之前就拥有很高的空头兴趣。这意味着其他投资者——通常是对冲基金等专业人士——押注这些股票将会下跌。做空股票时，投资者借入公司股票并出售，希望以后以较低的价格回购。</blockquote></p><p>When the amateurs sent GameStop and other stocks soaring, the short sellers were sometimes forced to buy back shares, often at much higher prices.</p><p><blockquote>当业余爱好者让游戏驿站和其他股票飙升时，卖空者有时被迫回购股票，而且往往价格要高得多。</blockquote></p><p>These days, investors are avoiding taking big chances with their short-selling plays, according to an analysis by Ihor Dusaniwsky. He is head of predictive analytics at S3 Partners, a technology and data analytics firm that closely tracks activity by short sellers.</p><p><blockquote>根据 Ihor Dusaniwsky 的分析，如今投资者正在避免通过卖空策略冒险。他是 S3 Partners 预测分析主管，S3 Partners 是一家技术和数据分析公司，密切跟踪卖空者的活动。</blockquote></p><p>Just seven stocks in the U.S. market had short interest of 40% or more at the end of 2021, according to his analysis of stocks where at least $10 million of shares had been sold short. That was down from 40 stocks at the beginning of January 2020 and 19 stocks in January 2021. And unlike the previous periods, no stocks in his analysis had short interest of 70% or more at the end of 2021.</p><p><blockquote>根据他对至少有 1000 万美元股票被卖空的分析，截至 2021 年底，美国市场只有 7 只股票的空头权益达到或超过 40%。这一数字低于 2020 年 1 月初的 40 只股票和 2021 年 1 月的 19 只股票。与前几个时期不同的是，在他的分析中，2021 年底没有任何股票的空头权益达到或超过 70%。</blockquote></p><p>Last year, S3 started offering new tools that tell clients which stocks have crowded levels of short interest and which could leave them vulnerable to sudden losses if individual investors pile in.</p><p><blockquote>去年，S3 开始提供新工具，告诉客户哪些股票拥有拥挤的空头兴趣水平，以及如果个人投资者涌入，哪些股票可能会使他们容易遭受突然损失。</blockquote></p><p>“In the back of every hedge fund’s mind is, ‘I don’t want to be on the wrong side of a meme-stock play,’ ” Mr. Dusaniwsky says. “It’s a full-time job to make sure you don’t get hit by a bus.”</p><p><blockquote>“杜萨尼夫斯基先生说：”在每家对冲基金的脑海中，'我不想站在迷因股票的错误一边。“这是一份全职工作，确保你不会被公交车撞到。”</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/fund-managers-pay-attention-to-retail-day-traders-11642132135?mod=hp_lead_pos7\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/fund-managers-pay-attention-to-retail-day-traders-11642132135?mod=hp_lead_pos7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115241947","content_text":"Last year, amateur investors took financial markets by storm. This year, Wall Street professionals are watching them closely.Fund managers who might have once derided small-time day traders as “dumb money” are scouring social-media posts for clues about where the herd might veer next. Some 85% of hedge funds and 42% of asset managers are now tracking retail-trading message boards, according to a survey by Bloomberg Intelligence.JPMorgan Chase & Co. in September introduced a new data product that includes information on which securities individual investors are likely buying and selling, as well as which sectors and stocks are being talked about on social media. About 50 clients, including some of the largest asset and quant managers, are testing the product, the bank says. JPMorgan equity traders are also using it to help manage their own risk.“The flow from retail is not something you can ignore if you are a professional investor,” says Chris Berthe, JPMorgan’s global co-head of cash equities trading. “It’s a whole new investor class that has emerged, and it’s an investor class that’s actually getting themes right.”The shift illustrates just how much the rookies have changed the investing landscape. A year ago, market observers were questioning if the retail revolution would continue. Now many are asking what it will look like this year.After shying away from active investing for much of the past decade, millions of Americans, hunkered down at home because of Covid-19, became day traders in 2020. Enticed by volatile markets and phone apps that made it free to trade stocks, they flocked to social media for investing ideas. That year, they piled into stocks like Hertz Global Holdings Inc. (and ultimately were rewarded when the car-rental company exited bankruptcy). It is estimated that more than 10 million individual investors opened new brokerage accounts in 2020, according to Devin Ryan, director of financial-technology research at JMP Securities.Avoiding CrowdsThe total number of stocks with at least $10 million in short interest rose last year, but the number of the most heavily shorted stocks declined.Last year the trends from 2020 accelerated. JMP Securities estimates that a further 15 million Americans signed up for brokerage accounts in 2021. Social-media forums became increasingly used for trading. Some individual investors used their growing numbers to send stocks including GameStop Corp. and AMC Entertainment Holdings Inc. flying. Many newbies relished in inflicting steep losses on some hedge funds and demonstrating that traditional playbooks aren’t the only way to win.Investments that made little sense on paper became valuable in 2021 because day traders declared them so. Joke cryptocurrencies such as dogecoin—up more than 1,900% in the past year based on late Friday levels—minted self-proclaimed millionaires. A market for nonfungible tokens (NFTs), or digital images of items such as bored-ape avatars, exploded.JPMorgan estimates that individual investors accounted for more than a third of daily trading activity several times over the past 18 months, reaching nearly 40% of shares traded on peak days.To be sure, many of the newbies lost money. Some took on debt without understanding what they were doing, leaving them vulnerable to steep losses when stock prices fell. Riskier investing strategies, including options trading, exploded. Many amateur investors bought into buzzy shares near the top of rallies, only to watch the prices rapidly plummet.Individual traders in 2021 purchased a net $292 billion of U.S. stocks and exchange-traded funds, according to Vanda Research’s VandaTrack platform, which tracks and sells data on the purchases of U.S. equities by individual investors. That is more than seven times the amount in 2019. Individual investors so far appear poised to continue similar levels of buying activity in 2022.Analysts expect a bumpier road ahead for U.S. stocks this year, and some money managers believe that any prolonged volatility could wash individual investors out of the market. Many say that today’s activity resembles the late 1990s, when individual investors piled into trading only to flee when the dot-com bubble burst.So far, individual investors have shown a strong stomach for bumpy days. Last year, the group’s eight largest buying days by dollar volume occurred when the S&P 500 sank 1.3% or more, VandaTrack data show. Several academic papers have found that individual investors have at times helped stabilize markets, providing liquidity in times of volatility.The big names noticeBy some accounts, the newbie investors have already altered some professional investors’ trading strategies. One way in particular: the way some make bearish bets.Meme stocks like GameStop had high levels of short interest before they caught the attention of Reddit traders. That means that other investors—usually professionals, like hedge funds—were betting those stocks would fall. When shorting a stock, an investor borrows shares of a company and sells them, hoping to buy them back later at a lower price.When the amateurs sent GameStop and other stocks soaring, the short sellers were sometimes forced to buy back shares, often at much higher prices.These days, investors are avoiding taking big chances with their short-selling plays, according to an analysis by Ihor Dusaniwsky. He is head of predictive analytics at S3 Partners, a technology and data analytics firm that closely tracks activity by short sellers.Just seven stocks in the U.S. market had short interest of 40% or more at the end of 2021, according to his analysis of stocks where at least $10 million of shares had been sold short. That was down from 40 stocks at the beginning of January 2020 and 19 stocks in January 2021. And unlike the previous periods, no stocks in his analysis had short interest of 70% or more at the end of 2021.Last year, S3 started offering new tools that tell clients which stocks have crowded levels of short interest and which could leave them vulnerable to sudden losses if individual investors pile in.“In the back of every hedge fund’s mind is, ‘I don’t want to be on the wrong side of a meme-stock play,’ ” Mr. Dusaniwsky says. “It’s a full-time job to make sure you don’t get hit by a bus.”","news_type":1,"symbols_score_info":{".IXIC":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":3373,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697375863,"gmtCreate":1642325015098,"gmtModify":1642325015213,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/697375863","repostId":"2203201745","repostType":4,"isVote":1,"tweetType":1,"viewCount":4244,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697955201,"gmtCreate":1642234362908,"gmtModify":1642234363026,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Why my post can't be seen?&nbsp;","listText":"Why my post can't be seen?&nbsp;","text":"Why my post can't be seen?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/697955201","repostId":"2203714737","repostType":4,"isVote":1,"tweetType":1,"viewCount":3248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697955649,"gmtCreate":1642234334185,"gmtModify":1642234334338,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Weird","listText":"Weird","text":"Weird","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/697955649","repostId":"1167122618","repostType":4,"repost":{"id":"1167122618","kind":"news","pubTimestamp":1642212214,"share":"https://www.laohunote.com/m/news/1167122618?lang=zh_CN&edition=full","pubTime":"2022-01-15 10:03","market":"us","language":"en","title":"Morgan Stanley Promotes Biggest Class of Managing Directors Since 2012<blockquote>摩根士丹利晋升自 2012 年以来最大规模的董事总经理</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1167122618","media":"Seeking Alpha","summary":"While efforts to hire and retain workers pick up across Wall Street, Morgan Stanley(NYSE:MS)names 19","content":"<p><html><head></head><body><ul><li>While efforts to hire and retain workers pick up across Wall Street, Morgan Stanley(NYSE:MS)names 199 employees as new managing directors, a person with knowledge on the matter told Bloomberg.</li><li>This is up from 171 last year and 130 in 2020, Bloomberg reports. The U.S. region counts for 64% of the promotions, with 23% in Europe, the Middle East and Africa, and 14% in Asia.</li><li>A third of the new managing directors are women, the person told Bloomberg. This means 23% of the bank&#39;s managing directors are female, a new record, Bloomberg notes.</li><li>Recall Goldman Sachs(NYSE:GS)recently said it plans to boost hiring in Latin America after a record year.</li><li>Previously, (Jan. 4, 2021) Morgan Stanley inked a lease for BlackRock&#39;sheadquarters in New York City.</li></ul></body></html></p><p><blockquote><html><head></head><body><ul><li>一位知情人士告诉彭博社，随着华尔街招聘和留住员工的努力加快，摩根士丹利（纽约证券交易所股票代码：MS）任命了 199 名员工为新董事总经理。</li><li>据彭博社报道，这一数字高于去年的171个和2020年的130个。美国地区占促销活动的64%，欧洲、中东和非洲占23%，亚洲占14%。</li><li>该人士告诉彭博社，三分之一的新董事总经理是女性。彭博社指出，这意味着该银行 23% 的董事总经理是女性，创下了新纪录。</li><li>回顾高盛（纽约证券交易所股票代码：GS）最近表示，在经历了创纪录的一年后，计划增加在拉丁美洲的招聘。</li><li>此前，（2021年1月4日）摩根士丹利签署了贝莱德纽约市总部的租约。</li></ul></body></html></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley Promotes Biggest Class of Managing Directors Since 2012<blockquote>摩根士丹利晋升自 2012 年以来最大规模的董事总经理</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley Promotes Biggest Class of Managing Directors Since 2012<blockquote>摩根士丹利晋升自 2012 年以来最大规模的董事总经理</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2022-01-15 10:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><ul><li>While efforts to hire and retain workers pick up across Wall Street, Morgan Stanley(NYSE:MS)names 199 employees as new managing directors, a person with knowledge on the matter told Bloomberg.</li><li>This is up from 171 last year and 130 in 2020, Bloomberg reports. The U.S. region counts for 64% of the promotions, with 23% in Europe, the Middle East and Africa, and 14% in Asia.</li><li>A third of the new managing directors are women, the person told Bloomberg. This means 23% of the bank&#39;s managing directors are female, a new record, Bloomberg notes.</li><li>Recall Goldman Sachs(NYSE:GS)recently said it plans to boost hiring in Latin America after a record year.</li><li>Previously, (Jan. 4, 2021) Morgan Stanley inked a lease for BlackRock&#39;sheadquarters in New York City.</li></ul></body></html></p><p><blockquote><html><head></head><body><ul><li>一位知情人士告诉彭博社，随着华尔街招聘和留住员工的努力加快，摩根士丹利（纽约证券交易所股票代码：MS）任命了 199 名员工为新董事总经理。</li><li>据彭博社报道，这一数字高于去年的171个和2020年的130个。美国地区占促销活动的64%，欧洲、中东和非洲占23%，亚洲占14%。</li><li>该人士告诉彭博社，三分之一的新董事总经理是女性。彭博社指出，这意味着该银行 23% 的董事总经理是女性，创下了新纪录。</li><li>回顾高盛（纽约证券交易所股票代码：GS）最近表示，在经历了创纪录的一年后，计划增加在拉丁美洲的招聘。</li><li>此前，（2021年1月4日）摩根士丹利签署了贝莱德纽约市总部的租约。</li></ul></body></html></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3788415-morgan-stanley-promotes-most-staff-to-managing-directors-since-2012-bloomberg\">Seeking Alpha</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":{"MS":"摩根士丹利"},"source_url":"https://seekingalpha.com/news/3788415-morgan-stanley-promotes-most-staff-to-managing-directors-since-2012-bloomberg","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167122618","content_text":"While efforts to hire and retain workers pick up across Wall Street, Morgan Stanley(NYSE:MS)names 199 employees as new managing directors, a person with knowledge on the matter told Bloomberg.This is up from 171 last year and 130 in 2020, Bloomberg reports. The U.S. region counts for 64% of the promotions, with 23% in Europe, the Middle East and Africa, and 14% in Asia.A third of the new managing directors are women, the person told Bloomberg. This means 23% of the bank's managing directors are female, a new record, Bloomberg notes.Recall Goldman Sachs(NYSE:GS)recently said it plans to boost hiring in Latin America after a record year.Previously, (Jan. 4, 2021) Morgan Stanley inked a lease for BlackRock'sheadquarters in New York City.","news_type":1,"symbols_score_info":{"MS":0.9}},"isVote":1,"tweetType":1,"viewCount":3913,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697951782,"gmtCreate":1642231104197,"gmtModify":1642231104330,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Haha","listText":"Haha","text":"Haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/697951782","repostId":"2203753556","repostType":2,"repost":{"id":"2203753556","kind":"highlight","weMediaInfo":{"introduction":"凤凰网港股","home_visible":1,"media_name":"凤凰网港股","id":"1039806269","head_image":"https://static.tigerbbs.com/b6fb647077f1ce46dc341fc35c26e817"},"pubTimestamp":1642037590,"share":"https://www.laohunote.com/m/news/2203753556?lang=zh_CN&edition=full","pubTime":"2022-01-13 09:33","market":"us","language":"zh","title":"*麦格理首予小鹏汽车－Ｗ(09868)跑赢大市评级 目标价221港元","url":"https://stock-news.laohu8.com/highlight/detail?id=2203753556","media":"凤凰网港股","summary":"凤凰网港股|麦格理首予小鹏汽车(09868)跑赢大市评级，目标价221港元。","content":"<html><body><p>凤凰网港股|麦格理首予<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>(09868)跑赢大市评级，目标价221港元。</p></body></html>","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>*麦格理首予小鹏汽车－Ｗ(09868)跑赢大市评级 目标价221港元</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n*麦格理首予小鹏汽车－Ｗ(09868)跑赢大市评级 目标价221港元\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039806269\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/b6fb647077f1ce46dc341fc35c26e817);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">凤凰网港股 </p>\n<p class=\"h-time\">2022-01-13 09:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>凤凰网港股|麦格理首予<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>(09868)跑赢大市评级，目标价221港元。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/de0bbe341ac5d74e1a8d74c9ca5de715","relate_stocks":{"09868":"小鹏集团-W","XPEV":"小鹏集团"},"source_url":"http://hknews.szfuit.com/newRssInfo/feed?original_id=c9ce76babadd5ef7b0fa98b9485ad92f","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2203753556","content_text":"凤凰网港股|麦格理首予小鹏汽车(09868)跑赢大市评级，目标价221港元。","news_type":1,"symbols_score_info":{"09868":1,"XPEV":1}},"isVote":1,"tweetType":1,"viewCount":3860,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696161982,"gmtCreate":1640651208646,"gmtModify":1640651208831,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696161982","repostId":"1127544468","repostType":4,"isVote":1,"tweetType":1,"viewCount":3698,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696079882,"gmtCreate":1640585851388,"gmtModify":1640585851541,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696079882","repostId":"2194177239","repostType":4,"repost":{"id":"2194177239","kind":"news","pubTimestamp":1640559609,"share":"https://www.laohunote.com/m/news/2194177239?lang=zh_CN&edition=full","pubTime":"2021-12-27 07:00","market":"us","language":"en","title":"Santa Claus Rally watch: What to know this week<blockquote>圣诞老人集会手表：本周须知</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2194177239","media":"Yahoo Finance","summary":"As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for the coming days.The S&P 500  is entering the period known for ushering in the so-called Santa Claus Rally, or seasonally strong timeframe for stocks at the end of each year.According to data from LPL Financial, the Santa Claus Rally period encapsulates the seven days most likely to be higher in any ","content":"<p><div> As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for ...</p><p><blockquote><div>随着交易员从假期缩短的一周归来，进入新的一年的价格走势将受到密切关注——特别是考虑到相对清淡的经济数据和收益日历……</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页连接</a></blockquote></p><p></p>","source":"yahoofinance_au","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>Santa Claus Rally watch: What to know this week<blockquote>圣诞老人集会手表：本周须知</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\">\nSanta Claus Rally watch: What to know this week<blockquote>圣诞老人集会手表：本周须知</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-12-27 07:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for ...</p><p><blockquote><div>随着交易员从假期缩短的一周归来，进入新的一年的价格走势将受到密切关注——特别是考虑到相对清淡的经济数据和收益日历……</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">Yahoo Finance</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY.AU":"SPDR® S&P 500® ETF Trust","FCEL":"燃料电池能源","BK4541":"氢能源","BK4096":"电气部件与设备"},"source_url":"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2194177239","content_text":"As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for the coming days.\nThe S&P 500 (^GSPC) is entering the period known for ushering in the so-called Santa Claus Rally, or seasonally strong timeframe for stocks at the end of each year.\nThe term, coined by Stock Trader's Almanac in the 1970s, encompasses the final five trading days of the year and first two sessions of the new year. This year, that Santa Claus Rally window is set to start on Monday, Dec. 27 — or the latest a Santa Claus rally has started in 11 years, due to the timing of the holidays this year.\nAccording to data from LPL Financial, the Santa Claus Rally period encapsulates the seven days most likely to be higher in any given year. Since 1950, the Santa Claus Rally period has produced a positive return for the S&P 500 78.9% of the time, with an average return of 1.33%.\n“Why are these seven days so strong?” wrote Ryan Detrick, LPL Financial chief market strategist, in a note. “Whether optimism over a coming new year, holiday spending, traders on vacation, institutions squaring up their books — or the holiday spirit — the bottom line is that bulls tend to believe in Santa.”\nAnd if history is any indication, the absence of a Santa Claus Rally has also typically served as a harbinger of lower near-term returns.\n\"Going back to the mid-1990s, there have been only six times Santa failed to show in December. January was lower five of those six times, and the full year had a solid gain only once (in 2016, but a mini-bear market early in the year),\" Detrick added.\n“Considering the bear markets of 2000 and 2008 both took place after one of the rare instances that Santa failed to show makes believers out of us,\" he said. A bear market typically refers to when stocks drop at least 20% from recent record highs. \"Should this seasonally strong period miss the mark, it could be a warning sign.\"\nAnd this year, investors do have considerable additional concerns to mull heading into the new year. Though stocks closed out Thursday's session at fresh record highs before the long holiday weekend, December still marked a volatile month to start, with renewed concerns over the Omicron variant and the potential for tighter monetary policy from the Federal Reserve weighing on risk assets. Plus, prospects for more near-term fiscal support via the Biden administration's Build Back Better bill have dwindled, and inflation concerns spiked further. Last week, the Bureau of Economic Analysis reported core personal consumption expenditures (PCE) — the Fed's preferred inflation gauge — rose at a 4.7% year-over-year clip, or the fastest since 1983.\n\"If the U.S. was not battling the Omicron variant, U.S. stocks would be dancing higher as the Santa Claus Rally would have kept the climb going into uncharted territory,\" Edward Moya, chief market strategist at OANDA, wrote in a note last week. \"It is too early to say for sure if we will get a Santa Claus Rally, but given all the short-term risks of Fed tightening, Chinese weakness, fiscal support uncertainty and COVID, Wall Street is not complaining.\"\nA man in a Santa Claus costume gestures on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange on December 5, 2019 in New York. (Photo by Bryan R. Smith / AFP) (Photo by BRYAN R. SMITH/AFP via Getty Images)BRYAN R. SMITH via Getty Images\nEconomic calendar\n\nMonday: Dallas Federal Reserve Manufacturing Activity Index, Dec. (13.0 expected, 11.8 in November)\nTuesday: FHFA House Price Index, month-over-month, October (0.9% in September); S&P CoreLogic Case-Shiller 20 City Composite Index, month-over-month, October (0.9% expected, 0.96% in September); S&P CoreLogic Case-Shiller 20 City Composite Index, year-over-year, October (18.6%. expected, 19.05% in September); S&P CoreLogic Case-Shiller Home Price Index, year-over-year, November (19.51% in October); Richmond Fed Manufacturing Index, December (11 expected,11 in November)\nWednesday: Wholesale Inventories, month-over-month, November preliminary (1.7% expected, 2.3% in October); Advance Goods Trade Balance, November (-$89.0 billion expected, -$82.9 billion in October); Retail Inventories, month-over-month, November (0.5% expected, 0.1% in October); Pending Home Sales, month-over-month, November (0.5% expected, 7.5% in October)\nThursday: Initial jobless claims, week ended Dec. 25. (205,000 during prior week); Continuing claims, week ended Dec. 18 (1.859 million during prior week); MNI Chicago PMI, December (62.2 expected, 61.8 in November)\nFriday: No notable reports scheduled for release\n\nEarnings calendar\n\nMonday: No notable reports scheduled for release\nTuesday: No notable reports scheduled for release\nWednesday: FuelCell Energy Inc. (FCEL) before market open\nThursday: No notable reports scheduled for release\nFriday: No notable reports scheduled for release","news_type":1,"symbols_score_info":{"FCEL":0.9,"SPY.AU":0.9}},"isVote":1,"tweetType":1,"viewCount":3009,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698790584,"gmtCreate":1640526892966,"gmtModify":1640526893104,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698790584","repostId":"2193033173","repostType":4,"isVote":1,"tweetType":1,"viewCount":3567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698790184,"gmtCreate":1640526815983,"gmtModify":1640526816087,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Yeah","listText":"Yeah","text":"Yeah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698790184","repostId":"2193178197","repostType":4,"isVote":1,"tweetType":1,"viewCount":1251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698112726,"gmtCreate":1640316688078,"gmtModify":1640317458987,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698112726","repostId":"1163369412","repostType":4,"repost":{"id":"1163369412","kind":"news","pubTimestamp":1640315341,"share":"https://www.laohunote.com/m/news/1163369412?lang=zh_CN&edition=full","pubTime":"2021-12-24 11:09","market":"us","language":"en","title":"Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事株式会社早期押注电动汽车初创公司Rivian，大获全胜</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163369412","media":"Nikkei Asia","summary":"Once-secretive automaker now worth almost 100 times its original value\nA Rivian R1T all-electric tru","content":"<p>Once-secretive automaker now worth almost 100 times its original value</p><p><blockquote>曾经神秘的汽车制造商现在价值几乎是其原始价值的 100 倍</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b7e054c0ad4260b9074fbdd6c0947731\" tg-width=\"1400\" tg-height=\"788\" width=\"100%\" height=\"auto\"><span>A Rivian R1T all-electric truck in Times Square in New York on Nov. 10, the automaker's first day of trading. © AP</span></p><p><blockquote><p class=\"t-img-caption\"><span>11 月 10 日，一辆Rivian R1T 全电动卡车出现在纽约时代广场，这是该汽车制造商上市的第一天。©美联社</span></p></blockquote></p><p> TOKYO -- In the spring of 2017, a Saudi business associate made an intriguing proposal to Yoshito Miyazaki, an executive at Japanese trading house Sumitomo Corp., asking if he would like to invest in an interesting electric vehicle startup together.</p><p><blockquote>东京——2017 年春天，一位沙特商业伙伴向日本贸易公司住友商事株式会社 (Sumitomo Corp.) 的高管宫崎骏 (Yoshito Miyazaki) 提出了一个有趣的提议，询问他是否愿意一起投资一家有趣的电动汽车初创公司。</blockquote></p><p> The target of the pitch was Rivian Automotive, which at the time was still operating in stealth mode with hardly any information to its name. The CEO of the outfit, R.J. Scaringe, maintained an especially low profile.</p><p><blockquote>此次推介的目标是Rivian汽车公司，该公司当时仍在秘密模式下运营，几乎没有任何关于其名称的信息。该公司的首席执行官R.J。斯卡林格保持着特别低调的姿态。</blockquote></p><p> What a difference four years make. Now Rivian's market capitalization hovers at about $100 billion following its debut on Nasdaq in November. Rivian's value has grown by a magnitude of nearly 100, and Sumitomo was one of the investors that got in on the ground floor.</p><p><blockquote>四年有多大的不同。自 11 月在纳斯达克首次亮相以来，Rivian 的市值目前徘徊在 1000 亿美元左右。Rivian 的价值增长了近 100 倍，住友是进入底层的投资者之一。</blockquote></p><p> The business associate, an executive at Saudi conglomerate Abdul Latif Jameel, had been visiting the U.S. when he met with Miyazaki, then the general manager of Sumitomo's Detroit office. Sumitomo and ALJ operate a joint-venture construction equipment distributor in Saudi Arabia, and the two companies were looking for other collaborative opportunities in the U.S.</p><p><blockquote>这位商业伙伴是沙特企业集团阿卜杜勒·拉蒂夫·贾米尔（Abdul Latif Jameel）的一名高管，当时他正在美国访问，会见了时任住友底特律办事处总经理的宫崎。住友和ALJ在沙特阿拉伯经营一家合资建筑设备分销商，两家公司正在美国寻找其他合作机会。</blockquote></p><p> It was then that Miyazaki heard Scaringe was going to make his first public appearance, at a town meeting hosted by the Original Equipment Suppliers Association at a venue not far from Detroit.</p><p><blockquote>就在那时，宫崎听说斯卡林格将首次公开露面，在离底特律不远的一个地方，由原始设备供应商协会主办的一个城镇会议上。</blockquote></p><p> At the event, Scaringe made a passionate case for developing large EVs, a \"white space\" where competition was scarce. His plan was to roll out a sport utility vehicle and a pickup truck by approximately 2020. Rivian would leverage the new brand image to secure more funding, which would then be used to develop shared EVs and fully autonomous driving technology by 2023.</p><p><blockquote>在活动中，Scaringe 热情地提出了开发大型电动汽车的理由，这是一个竞争稀少的“白色空间”。他的计划是在 2020 年左右推出运动型多功能车和皮卡车。Rivian将利用新的品牌形象来获得更多资金，然后用于到 2023 年开发共享电动汽车和全自动驾驶技术。</blockquote></p><p> Many EV startups who bill themselves as the next Tesla pour their resources into developing sports cars. However, Scaringe demonstrated he was quick to pick up on shifting consumer tastes while maintaining a focus on next-generation technology.</p><p><blockquote>许多自诩为下一个特斯拉的电动汽车初创公司将资源投入到开发跑车上。然而，Scaringe证明了他在保持对下一代技术的关注的同时，很快就适应了不断变化的消费者口味。</blockquote></p><p> Miyazaki was floored by Scaringe's business model.</p><p><blockquote>宫崎骏被斯卡林格的商业模式所打动。</blockquote></p><p> \"Large-sized vehicles have a huge market in the U.S. because of their popularity, and I felt it was very rational since you could equip the vehicles with large-capacity batteries and extend driving ranges,\" said Miyazaki, who now heads Sumitomo's Beyond Mobility department.</p><p><blockquote>“大型车辆在美国拥有巨大的市场，因为它们很受欢迎，我觉得这是非常合理的，因为你可以为车辆配备大容量电池并延长行驶里程，”现任住友超越移动部门负责人宫崎说。</blockquote></p><p> Miyazaki immediately launched a due diligence review of Rivian with Tatsuo Ishibashi, a subordinate who now heads the Detroit office. The team discovered the startup had taken the unusual step of spending $16 million buying an Illinois plant from Mitsubishi Motors in early 2017.</p><p><blockquote>宫崎骏立即与下属石桥达夫（Tatsuo Ishibashi）一起启动了对Rivian的尽职调查审查，石桥达夫现在是底特律办事处的负责人。该团队发现，这家初创公司在 2017 年初采取了不同寻常的举措，斥资 1600 万美元从三菱汽车手中收购了伊利诺伊州的一家工厂。</blockquote></p><p> Mitsubishi Motors had originally invested 200 billion yen ($1.75 billion at current rates) in the assembly plant, which also handled engines, presswork and coating. The site has the capacity to turn out 250,000 vehicles a year.</p><p><blockquote>三菱汽车最初在装配厂投资了 2000 亿日元（按当前汇率计算为 17.5 亿美元），该装配厂还处理发动机、冲压和涂层。该工厂每年有能力生产25万辆汽车。</blockquote></p><p> \"This is a company that has a proper footing,\" Ishibashi thought of Rivian.</p><p><blockquote>“这是一家有适当基础的公司，”石桥想到Rivian。</blockquote></p><p> When Miyazaki and Ishibashi began negotiating with Scaringe, they were drawn to his personality. When a Sumitomo executive visited from the Tokyo home office to tour Rivian, Scaringe discussed his business strategy, balancing logic with passion.</p><p><blockquote>当宫崎和石桥开始与斯卡林格谈判时，他们被斯卡林格的个性所吸引。当住友的一位高管从东京总部来到Rivian参观时，斯卡林奇讨论了他的商业战略，在逻辑和激情之间取得了平衡。</blockquote></p><p> \"There may be times when a change in course is needed, but I felt we'd certainly arrive at solutions with Mr. Scaringe at the helm,\" said Miyazaki.</p><p><blockquote>“有时可能需要改变路线，但我觉得在斯卡林格先生的领导下，我们肯定会找到解决方案，”宫崎骏说。</blockquote></p><p> Sumitomo decided to invest in Rivian in October 2017, and the transaction closed that December. The Japanese group became the automaker's second corporate investor after ALJ.</p><p><blockquote>住友于2017年10月决定投资Rivian，交易于当年12月完成。这家日本集团成为该汽车制造商继 ALJ 之后的第二家企业投资者。</blockquote></p><p> Ishibashi relocated to Rivian's Detroit headquarters at the end of October 2017. A&nbsp;year later, Amazon.com founder Jeff Bezos came to observe the startup. Negotiations between Amazon and Rivian proceeded smoothly, and a $700 million infusion was announced just four months later, making Amazon the largest investor. Amazon also apparently&nbsp;ordered&nbsp;100,000 all-electric delivery vehicles from Rivian.</p><p><blockquote>石桥于 2017 年 10 月底搬迁至 Rivian 底特律总部。一年后，亚马逊创始人杰夫·贝索斯前来观察这家初创公司。亚马逊和Rivian之间的谈判进展顺利，仅仅四个月后就宣布注资 7 亿美元，使亚马逊成为最大投资者。亚马逊显然还从Rivian订购了 10 万辆全电动送货车。</blockquote></p><p> After investing in Rivian, Sumitomo became an eager intermediary between the automaker and Japanese suppliers. But at the time, Tesla was experiencing problems with production, which caused players in the automotive supply chain to be wary of EV startups.</p><p><blockquote>在Rivian投资后，住友商事成为该汽车制造商和日本供应商之间热切的中间人。但当时，特斯拉在生产方面遇到了问题，这导致汽车供应链中的参与者对电动汽车初创公司保持警惕。</blockquote></p><p> Japanese suppliers were particularly unwilling to move forward on contract negotiations. Ishibashi's team arranged for Scaringe to personally meet with executives from Denso, Aisin and Panasonic so that they could hear his business model.</p><p><blockquote>日本供应商尤其不愿意推进合同谈判。石桥的团队安排斯卡林格亲自会见电装、爱信和松下的高管，让他们听听他的商业模式。</blockquote></p><p> Sumitomo also brokered discussions concerning post-mass production tie-ups. One automaker wanted to jointly use a charging system while a Japanese non-life insurance provider pitched a partnership for an insurance business, according to Sumitomo.</p><p><blockquote>住友还促成了有关量产后合作的讨论。据住友称，一家汽车制造商希望联合使用充电系统，而一家日本非人寿保险提供商则提出了保险业务合作伙伴关系。</blockquote></p><p></p><p> \"We're not planning to sell Rivian shares for the time being,\" said Ishibashi. \"As a shareholder, we intend to support [Rivian] in distribution and after-sales services outside the U.S. and take an active approach in our collaboration.\"</p><p><blockquote>“我们暂时不打算出售Rivian股票，”石桥说。“作为股东，我们打算支持[Rivian]在美国以外的分销和售后服务，并在合作中采取积极态度。”</blockquote></p><p> Rivian started delivering its R1T pickup this September, which sells for about $67,000. In its first quarterly report since the float, the company revealed that it made only $1 million in revenue in the July-September period. The net loss exceeded $1.2 billion.</p><p><blockquote>Rivian今年 9 月开始交付 R1T 皮卡，售价约为 67,000 美元。在上市以来的第一份季度报告中，该公司透露，7月至9月期间仅获得100万美元的收入。净亏损超过12亿美元。</blockquote></p><p> The semiconductor shortage this year limited production to about 1,000 vehicles. Rivian's next task is to develop an infrastructure for mass production.</p><p><blockquote>今年的半导体短缺将产量限制在约 1,000 辆。Rivian 的下一个任务是开发大规模生产的基础设施。</blockquote></p><p> On Dec. 16, the same day as the earnings report, Rivian announced it would build an additional assembly plant and expand the Illinois plant. The goal is to lift annual capacity to 600,000 units in 2024.</p><p><blockquote>12月16日，也就是财报发布的同一天，Rivian宣布将增建一家装配厂并扩建伊利诺伊州工厂。目标是到 2024 年将年产能提高到 60 万台。</blockquote></p><p> \"Manufacturing cars is really difficult,\" said Miyazaki. \"Moreover, I'd expect [Rivian] to face various barriers because it's a startup.\"</p><p><blockquote>“制造汽车真的很困难，”宫崎骏说。“此外，我预计[Rivian]将面临各种障碍，因为它是一家初创公司。”</blockquote></p><p> When Amazon invested in Rivian, the valuation of the startup was estimated at between $1 billion and $2 billion, giving it unicorn status. By the time the company ended its first day of trading on Nov. 10, its market capitalization stood at $85.9 billion. If a company with a valuation of $10 billion qualifies as a decacorn, then Rivian would be a superdecacorn.</p><p><blockquote>当亚马逊投资Rivian时，这家初创公司的估值估计在10亿至20亿美元之间，赋予了它独角兽的地位。当该公司于 11 月 10 日结束首个交易日时，其市值为 859 亿美元。如果一家估值100亿美元的公司有资格成为十角兽，那么Rivian将是超级十角兽。</blockquote></p><p> Sumitomo had not disclosed its&nbsp;investment amount, so Rivian's valuation in late 2017 was unclear. But if Amazon's investment is used as a starting point, Rivian's enterprise value would have multiplied 40 to more than 80 times over.</p><p><blockquote>住友尚未披露其投资金额，因此 Rivian 在 2017 年底的估值尚不清楚。但如果以亚马逊的投资为起点，Rivian 的企业价值将增加 40 倍到 80 多倍。</blockquote></p><p> Amid the soaring fortunes, Sumitomo President Masayuki Hyodo is keeping a cool head.</p><p><blockquote>在财富飙升的情况下，住友商事会长兵藤昌之保持着冷静的头脑。</blockquote></p><p> \"Making money off investments in startups is not the role of a trading company,\" said Hyodo. \"Rivian is a company that is very important to our EV platform. I can't speak to whether or not we'll make additional investments, but there is potential for all forms of collaboration.\"</p><p><blockquote>“从对初创企业的投资中赚钱不是贸易公司的职责，”兵户说。“Rivian是一家对我们的电动汽车平台非常重要的公司。我无法谈论我们是否会进行额外投资，但各种形式的合作都有潜力。”</blockquote></p><p> Rivian's share price once approached $180 -- more than twice its original offer price of $78. Since then, its price has tumbled to about $100. This largely stems from an announcement in late November that Ford Motor and Rivian were scrapping plans to jointly develop EVs. Ford owns 12% of Rivian.</p><p><blockquote>Rivian 的股价一度接近 180 美元，是其最初发行价 78 美元的两倍多。此后，其价格已跌至100美元左右。这主要源于 11 月底福特汽车公司和Rivian宣布放弃联合开发电动汽车的计划。福特拥有Rivian 12%的股份。</blockquote></p><p> American EV startups Nikola and Lordstown Motors were consumed by fraud scandals in 2020 and 2021, respectively. Their market caps fell to less than one sixth of their peak values. Although Sumitomo had the foresight to invest in Rivian early, the Japanese group's ability to further develop&nbsp;its close relationship with the startup will come under scrutiny.</p><p><blockquote>美国电动汽车初创公司 Nikola 和 Lordstown Motors 分别在 2020 年和 2021 年陷入欺诈丑闻。它们的市值下降到不到峰值的六分之一。尽管住友商事株式会社很早就有远见投资Rivian，但这家日本集团进一步发展与这家初创公司密切关系的能力将受到审查。</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>Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事株式会社早期押注电动汽车初创公司Rivian，大获全胜</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\">\nSumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事株式会社早期押注电动汽车初创公司Rivian，大获全胜</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nikkei Asia</strong><span class=\"h-time small\">2021-12-24 11:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Once-secretive automaker now worth almost 100 times its original value</p><p><blockquote>曾经神秘的汽车制造商现在价值几乎是其原始价值的 100 倍</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b7e054c0ad4260b9074fbdd6c0947731\" tg-width=\"1400\" tg-height=\"788\" width=\"100%\" height=\"auto\"><span>A Rivian R1T all-electric truck in Times Square in New York on Nov. 10, the automaker's first day of trading. © AP</span></p><p><blockquote><p class=\"t-img-caption\"><span>11 月 10 日，一辆Rivian R1T 全电动卡车出现在纽约时代广场，这是该汽车制造商上市的第一天。©美联社</span></p></blockquote></p><p> TOKYO -- In the spring of 2017, a Saudi business associate made an intriguing proposal to Yoshito Miyazaki, an executive at Japanese trading house Sumitomo Corp., asking if he would like to invest in an interesting electric vehicle startup together.</p><p><blockquote>东京——2017 年春天，一位沙特商业伙伴向日本贸易公司住友商事株式会社 (Sumitomo Corp.) 的高管宫崎骏 (Yoshito Miyazaki) 提出了一个有趣的提议，询问他是否愿意一起投资一家有趣的电动汽车初创公司。</blockquote></p><p> The target of the pitch was Rivian Automotive, which at the time was still operating in stealth mode with hardly any information to its name. The CEO of the outfit, R.J. Scaringe, maintained an especially low profile.</p><p><blockquote>此次推介的目标是Rivian汽车公司，该公司当时仍在秘密模式下运营，几乎没有任何关于其名称的信息。该公司的首席执行官R.J。斯卡林格保持着特别低调的姿态。</blockquote></p><p> What a difference four years make. Now Rivian's market capitalization hovers at about $100 billion following its debut on Nasdaq in November. Rivian's value has grown by a magnitude of nearly 100, and Sumitomo was one of the investors that got in on the ground floor.</p><p><blockquote>四年有多大的不同。自 11 月在纳斯达克首次亮相以来，Rivian 的市值目前徘徊在 1000 亿美元左右。Rivian 的价值增长了近 100 倍，住友是进入底层的投资者之一。</blockquote></p><p> The business associate, an executive at Saudi conglomerate Abdul Latif Jameel, had been visiting the U.S. when he met with Miyazaki, then the general manager of Sumitomo's Detroit office. Sumitomo and ALJ operate a joint-venture construction equipment distributor in Saudi Arabia, and the two companies were looking for other collaborative opportunities in the U.S.</p><p><blockquote>这位商业伙伴是沙特企业集团阿卜杜勒·拉蒂夫·贾米尔（Abdul Latif Jameel）的一名高管，当时他正在美国访问，会见了时任住友底特律办事处总经理的宫崎。住友和ALJ在沙特阿拉伯经营一家合资建筑设备分销商，两家公司正在美国寻找其他合作机会。</blockquote></p><p> It was then that Miyazaki heard Scaringe was going to make his first public appearance, at a town meeting hosted by the Original Equipment Suppliers Association at a venue not far from Detroit.</p><p><blockquote>就在那时，宫崎听说斯卡林格将首次公开露面，在离底特律不远的一个地方，由原始设备供应商协会主办的一个城镇会议上。</blockquote></p><p> At the event, Scaringe made a passionate case for developing large EVs, a \"white space\" where competition was scarce. His plan was to roll out a sport utility vehicle and a pickup truck by approximately 2020. Rivian would leverage the new brand image to secure more funding, which would then be used to develop shared EVs and fully autonomous driving technology by 2023.</p><p><blockquote>在活动中，Scaringe 热情地提出了开发大型电动汽车的理由，这是一个竞争稀少的“白色空间”。他的计划是在 2020 年左右推出运动型多功能车和皮卡车。Rivian将利用新的品牌形象来获得更多资金，然后用于到 2023 年开发共享电动汽车和全自动驾驶技术。</blockquote></p><p> Many EV startups who bill themselves as the next Tesla pour their resources into developing sports cars. However, Scaringe demonstrated he was quick to pick up on shifting consumer tastes while maintaining a focus on next-generation technology.</p><p><blockquote>许多自诩为下一个特斯拉的电动汽车初创公司将资源投入到开发跑车上。然而，Scaringe证明了他在保持对下一代技术的关注的同时，很快就适应了不断变化的消费者口味。</blockquote></p><p> Miyazaki was floored by Scaringe's business model.</p><p><blockquote>宫崎骏被斯卡林格的商业模式所打动。</blockquote></p><p> \"Large-sized vehicles have a huge market in the U.S. because of their popularity, and I felt it was very rational since you could equip the vehicles with large-capacity batteries and extend driving ranges,\" said Miyazaki, who now heads Sumitomo's Beyond Mobility department.</p><p><blockquote>“大型车辆在美国拥有巨大的市场，因为它们很受欢迎，我觉得这是非常合理的，因为你可以为车辆配备大容量电池并延长行驶里程，”现任住友超越移动部门负责人宫崎说。</blockquote></p><p> Miyazaki immediately launched a due diligence review of Rivian with Tatsuo Ishibashi, a subordinate who now heads the Detroit office. The team discovered the startup had taken the unusual step of spending $16 million buying an Illinois plant from Mitsubishi Motors in early 2017.</p><p><blockquote>宫崎骏立即与下属石桥达夫（Tatsuo Ishibashi）一起启动了对Rivian的尽职调查审查，石桥达夫现在是底特律办事处的负责人。该团队发现，这家初创公司在 2017 年初采取了不同寻常的举措，斥资 1600 万美元从三菱汽车手中收购了伊利诺伊州的一家工厂。</blockquote></p><p> Mitsubishi Motors had originally invested 200 billion yen ($1.75 billion at current rates) in the assembly plant, which also handled engines, presswork and coating. The site has the capacity to turn out 250,000 vehicles a year.</p><p><blockquote>三菱汽车最初在装配厂投资了 2000 亿日元（按当前汇率计算为 17.5 亿美元），该装配厂还处理发动机、冲压和涂层。该工厂每年有能力生产25万辆汽车。</blockquote></p><p> \"This is a company that has a proper footing,\" Ishibashi thought of Rivian.</p><p><blockquote>“这是一家有适当基础的公司，”石桥想到Rivian。</blockquote></p><p> When Miyazaki and Ishibashi began negotiating with Scaringe, they were drawn to his personality. When a Sumitomo executive visited from the Tokyo home office to tour Rivian, Scaringe discussed his business strategy, balancing logic with passion.</p><p><blockquote>当宫崎和石桥开始与斯卡林格谈判时，他们被斯卡林格的个性所吸引。当住友的一位高管从东京总部来到Rivian参观时，斯卡林奇讨论了他的商业战略，在逻辑和激情之间取得了平衡。</blockquote></p><p> \"There may be times when a change in course is needed, but I felt we'd certainly arrive at solutions with Mr. Scaringe at the helm,\" said Miyazaki.</p><p><blockquote>“有时可能需要改变路线，但我觉得在斯卡林格先生的领导下，我们肯定会找到解决方案，”宫崎骏说。</blockquote></p><p> Sumitomo decided to invest in Rivian in October 2017, and the transaction closed that December. The Japanese group became the automaker's second corporate investor after ALJ.</p><p><blockquote>住友于2017年10月决定投资Rivian，交易于当年12月完成。这家日本集团成为该汽车制造商继 ALJ 之后的第二家企业投资者。</blockquote></p><p> Ishibashi relocated to Rivian's Detroit headquarters at the end of October 2017. A&nbsp;year later, Amazon.com founder Jeff Bezos came to observe the startup. Negotiations between Amazon and Rivian proceeded smoothly, and a $700 million infusion was announced just four months later, making Amazon the largest investor. Amazon also apparently&nbsp;ordered&nbsp;100,000 all-electric delivery vehicles from Rivian.</p><p><blockquote>石桥于 2017 年 10 月底搬迁至 Rivian 底特律总部。一年后，亚马逊创始人杰夫·贝索斯前来观察这家初创公司。亚马逊和Rivian之间的谈判进展顺利，仅仅四个月后就宣布注资 7 亿美元，使亚马逊成为最大投资者。亚马逊显然还从Rivian订购了 10 万辆全电动送货车。</blockquote></p><p> After investing in Rivian, Sumitomo became an eager intermediary between the automaker and Japanese suppliers. But at the time, Tesla was experiencing problems with production, which caused players in the automotive supply chain to be wary of EV startups.</p><p><blockquote>在Rivian投资后，住友商事成为该汽车制造商和日本供应商之间热切的中间人。但当时，特斯拉在生产方面遇到了问题，这导致汽车供应链中的参与者对电动汽车初创公司保持警惕。</blockquote></p><p> Japanese suppliers were particularly unwilling to move forward on contract negotiations. Ishibashi's team arranged for Scaringe to personally meet with executives from Denso, Aisin and Panasonic so that they could hear his business model.</p><p><blockquote>日本供应商尤其不愿意推进合同谈判。石桥的团队安排斯卡林格亲自会见电装、爱信和松下的高管，让他们听听他的商业模式。</blockquote></p><p> Sumitomo also brokered discussions concerning post-mass production tie-ups. One automaker wanted to jointly use a charging system while a Japanese non-life insurance provider pitched a partnership for an insurance business, according to Sumitomo.</p><p><blockquote>住友还促成了有关量产后合作的讨论。据住友称，一家汽车制造商希望联合使用充电系统，而一家日本非人寿保险提供商则提出了保险业务合作伙伴关系。</blockquote></p><p></p><p> \"We're not planning to sell Rivian shares for the time being,\" said Ishibashi. \"As a shareholder, we intend to support [Rivian] in distribution and after-sales services outside the U.S. and take an active approach in our collaboration.\"</p><p><blockquote>“我们暂时不打算出售Rivian股票，”石桥说。“作为股东，我们打算支持[Rivian]在美国以外的分销和售后服务，并在合作中采取积极态度。”</blockquote></p><p> Rivian started delivering its R1T pickup this September, which sells for about $67,000. In its first quarterly report since the float, the company revealed that it made only $1 million in revenue in the July-September period. The net loss exceeded $1.2 billion.</p><p><blockquote>Rivian今年 9 月开始交付 R1T 皮卡，售价约为 67,000 美元。在上市以来的第一份季度报告中，该公司透露，7月至9月期间仅获得100万美元的收入。净亏损超过12亿美元。</blockquote></p><p> The semiconductor shortage this year limited production to about 1,000 vehicles. Rivian's next task is to develop an infrastructure for mass production.</p><p><blockquote>今年的半导体短缺将产量限制在约 1,000 辆。Rivian 的下一个任务是开发大规模生产的基础设施。</blockquote></p><p> On Dec. 16, the same day as the earnings report, Rivian announced it would build an additional assembly plant and expand the Illinois plant. The goal is to lift annual capacity to 600,000 units in 2024.</p><p><blockquote>12月16日，也就是财报发布的同一天，Rivian宣布将增建一家装配厂并扩建伊利诺伊州工厂。目标是到 2024 年将年产能提高到 60 万台。</blockquote></p><p> \"Manufacturing cars is really difficult,\" said Miyazaki. \"Moreover, I'd expect [Rivian] to face various barriers because it's a startup.\"</p><p><blockquote>“制造汽车真的很困难，”宫崎骏说。“此外，我预计[Rivian]将面临各种障碍，因为它是一家初创公司。”</blockquote></p><p> When Amazon invested in Rivian, the valuation of the startup was estimated at between $1 billion and $2 billion, giving it unicorn status. By the time the company ended its first day of trading on Nov. 10, its market capitalization stood at $85.9 billion. If a company with a valuation of $10 billion qualifies as a decacorn, then Rivian would be a superdecacorn.</p><p><blockquote>当亚马逊投资Rivian时，这家初创公司的估值估计在10亿至20亿美元之间，赋予了它独角兽的地位。当该公司于 11 月 10 日结束首个交易日时，其市值为 859 亿美元。如果一家估值100亿美元的公司有资格成为十角兽，那么Rivian将是超级十角兽。</blockquote></p><p> Sumitomo had not disclosed its&nbsp;investment amount, so Rivian's valuation in late 2017 was unclear. But if Amazon's investment is used as a starting point, Rivian's enterprise value would have multiplied 40 to more than 80 times over.</p><p><blockquote>住友尚未披露其投资金额，因此 Rivian 在 2017 年底的估值尚不清楚。但如果以亚马逊的投资为起点，Rivian 的企业价值将增加 40 倍到 80 多倍。</blockquote></p><p> Amid the soaring fortunes, Sumitomo President Masayuki Hyodo is keeping a cool head.</p><p><blockquote>在财富飙升的情况下，住友商事会长兵藤昌之保持着冷静的头脑。</blockquote></p><p> \"Making money off investments in startups is not the role of a trading company,\" said Hyodo. \"Rivian is a company that is very important to our EV platform. I can't speak to whether or not we'll make additional investments, but there is potential for all forms of collaboration.\"</p><p><blockquote>“从对初创企业的投资中赚钱不是贸易公司的职责，”兵户说。“Rivian是一家对我们的电动汽车平台非常重要的公司。我无法谈论我们是否会进行额外投资，但各种形式的合作都有潜力。”</blockquote></p><p> Rivian's share price once approached $180 -- more than twice its original offer price of $78. Since then, its price has tumbled to about $100. This largely stems from an announcement in late November that Ford Motor and Rivian were scrapping plans to jointly develop EVs. Ford owns 12% of Rivian.</p><p><blockquote>Rivian 的股价一度接近 180 美元，是其最初发行价 78 美元的两倍多。此后，其价格已跌至100美元左右。这主要源于 11 月底福特汽车公司和Rivian宣布放弃联合开发电动汽车的计划。福特拥有Rivian 12%的股份。</blockquote></p><p> American EV startups Nikola and Lordstown Motors were consumed by fraud scandals in 2020 and 2021, respectively. Their market caps fell to less than one sixth of their peak values. Although Sumitomo had the foresight to invest in Rivian early, the Japanese group's ability to further develop&nbsp;its close relationship with the startup will come under scrutiny.</p><p><blockquote>美国电动汽车初创公司 Nikola 和 Lordstown Motors 分别在 2020 年和 2021 年陷入欺诈丑闻。它们的市值下降到不到峰值的六分之一。尽管住友商事株式会社很早就有远见投资Rivian，但这家日本集团进一步发展与这家初创公司密切关系的能力将受到审查。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://asia.nikkei.com/Business/Startups/Sumitomo-wins-big-with-early-bet-on-EV-startup-Rivian\">Nikkei Asia</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":{"RIVN":"Rivian Automotive, Inc."},"source_url":"https://asia.nikkei.com/Business/Startups/Sumitomo-wins-big-with-early-bet-on-EV-startup-Rivian","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163369412","content_text":"Once-secretive automaker now worth almost 100 times its original value\nA Rivian R1T all-electric truck in Times Square in New York on Nov. 10, the automaker's first day of trading. © AP\nTOKYO -- In the spring of 2017, a Saudi business associate made an intriguing proposal to Yoshito Miyazaki, an executive at Japanese trading house Sumitomo Corp., asking if he would like to invest in an interesting electric vehicle startup together.\nThe target of the pitch was Rivian Automotive, which at the time was still operating in stealth mode with hardly any information to its name. The CEO of the outfit, R.J. Scaringe, maintained an especially low profile.\nWhat a difference four years make. Now Rivian's market capitalization hovers at about $100 billion following its debut on Nasdaq in November. Rivian's value has grown by a magnitude of nearly 100, and Sumitomo was one of the investors that got in on the ground floor.\nThe business associate, an executive at Saudi conglomerate Abdul Latif Jameel, had been visiting the U.S. when he met with Miyazaki, then the general manager of Sumitomo's Detroit office. Sumitomo and ALJ operate a joint-venture construction equipment distributor in Saudi Arabia, and the two companies were looking for other collaborative opportunities in the U.S.\nIt was then that Miyazaki heard Scaringe was going to make his first public appearance, at a town meeting hosted by the Original Equipment Suppliers Association at a venue not far from Detroit.\nAt the event, Scaringe made a passionate case for developing large EVs, a \"white space\" where competition was scarce. His plan was to roll out a sport utility vehicle and a pickup truck by approximately 2020. Rivian would leverage the new brand image to secure more funding, which would then be used to develop shared EVs and fully autonomous driving technology by 2023.\nMany EV startups who bill themselves as the next Tesla pour their resources into developing sports cars. However, Scaringe demonstrated he was quick to pick up on shifting consumer tastes while maintaining a focus on next-generation technology.\nMiyazaki was floored by Scaringe's business model.\n\"Large-sized vehicles have a huge market in the U.S. because of their popularity, and I felt it was very rational since you could equip the vehicles with large-capacity batteries and extend driving ranges,\" said Miyazaki, who now heads Sumitomo's Beyond Mobility department.\nMiyazaki immediately launched a due diligence review of Rivian with Tatsuo Ishibashi, a subordinate who now heads the Detroit office. The team discovered the startup had taken the unusual step of spending $16 million buying an Illinois plant from Mitsubishi Motors in early 2017.\nMitsubishi Motors had originally invested 200 billion yen ($1.75 billion at current rates) in the assembly plant, which also handled engines, presswork and coating. The site has the capacity to turn out 250,000 vehicles a year.\n\"This is a company that has a proper footing,\" Ishibashi thought of Rivian.\nWhen Miyazaki and Ishibashi began negotiating with Scaringe, they were drawn to his personality. When a Sumitomo executive visited from the Tokyo home office to tour Rivian, Scaringe discussed his business strategy, balancing logic with passion.\n\"There may be times when a change in course is needed, but I felt we'd certainly arrive at solutions with Mr. Scaringe at the helm,\" said Miyazaki.\nSumitomo decided to invest in Rivian in October 2017, and the transaction closed that December. The Japanese group became the automaker's second corporate investor after ALJ.\nIshibashi relocated to Rivian's Detroit headquarters at the end of October 2017. A year later, Amazon.com founder Jeff Bezos came to observe the startup. Negotiations between Amazon and Rivian proceeded smoothly, and a $700 million infusion was announced just four months later, making Amazon the largest investor. Amazon also apparently ordered 100,000 all-electric delivery vehicles from Rivian.\nAfter investing in Rivian, Sumitomo became an eager intermediary between the automaker and Japanese suppliers. But at the time, Tesla was experiencing problems with production, which caused players in the automotive supply chain to be wary of EV startups.\nJapanese suppliers were particularly unwilling to move forward on contract negotiations. Ishibashi's team arranged for Scaringe to personally meet with executives from Denso, Aisin and Panasonic so that they could hear his business model.\nSumitomo also brokered discussions concerning post-mass production tie-ups. One automaker wanted to jointly use a charging system while a Japanese non-life insurance provider pitched a partnership for an insurance business, according to Sumitomo.\n\"We're not planning to sell Rivian shares for the time being,\" said Ishibashi. \"As a shareholder, we intend to support [Rivian] in distribution and after-sales services outside the U.S. and take an active approach in our collaboration.\"\nRivian started delivering its R1T pickup this September, which sells for about $67,000. In its first quarterly report since the float, the company revealed that it made only $1 million in revenue in the July-September period. The net loss exceeded $1.2 billion.\nThe semiconductor shortage this year limited production to about 1,000 vehicles. Rivian's next task is to develop an infrastructure for mass production.\nOn Dec. 16, the same day as the earnings report, Rivian announced it would build an additional assembly plant and expand the Illinois plant. The goal is to lift annual capacity to 600,000 units in 2024.\n\"Manufacturing cars is really difficult,\" said Miyazaki. \"Moreover, I'd expect [Rivian] to face various barriers because it's a startup.\"\nWhen Amazon invested in Rivian, the valuation of the startup was estimated at between $1 billion and $2 billion, giving it unicorn status. By the time the company ended its first day of trading on Nov. 10, its market capitalization stood at $85.9 billion. If a company with a valuation of $10 billion qualifies as a decacorn, then Rivian would be a superdecacorn.\nSumitomo had not disclosed its investment amount, so Rivian's valuation in late 2017 was unclear. But if Amazon's investment is used as a starting point, Rivian's enterprise value would have multiplied 40 to more than 80 times over.\nAmid the soaring fortunes, Sumitomo President Masayuki Hyodo is keeping a cool head.\n\"Making money off investments in startups is not the role of a trading company,\" said Hyodo. \"Rivian is a company that is very important to our EV platform. I can't speak to whether or not we'll make additional investments, but there is potential for all forms of collaboration.\"\nRivian's share price once approached $180 -- more than twice its original offer price of $78. Since then, its price has tumbled to about $100. This largely stems from an announcement in late November that Ford Motor and Rivian were scrapping plans to jointly develop EVs. Ford owns 12% of Rivian.\nAmerican EV startups Nikola and Lordstown Motors were consumed by fraud scandals in 2020 and 2021, respectively. Their market caps fell to less than one sixth of their peak values. Although Sumitomo had the foresight to invest in Rivian early, the Japanese group's ability to further develop its close relationship with the startup will come under scrutiny.","news_type":1,"symbols_score_info":{"RIVN":0}},"isVote":1,"tweetType":1,"viewCount":1021,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691539302,"gmtCreate":1640218998014,"gmtModify":1640218998146,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Good hor","listText":"Good hor","text":"Good hor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691539302","repostId":"2193511315","repostType":4,"isVote":1,"tweetType":1,"viewCount":1313,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691977258,"gmtCreate":1640132273999,"gmtModify":1640132274138,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Hehe","listText":"Hehe","text":"Hehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691977258","repostId":"2193663561","repostType":4,"isVote":1,"tweetType":1,"viewCount":1170,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693535741,"gmtCreate":1640048594903,"gmtModify":1640048595042,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693535741","repostId":"2193761136","repostType":4,"isVote":1,"tweetType":1,"viewCount":1208,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699553989,"gmtCreate":1639846952769,"gmtModify":1639846952908,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699553989","repostId":"2192754259","repostType":4,"isVote":1,"tweetType":1,"viewCount":1099,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690419853,"gmtCreate":1639700575574,"gmtModify":1639700575707,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690419853","repostId":"2192920942","repostType":4,"isVote":1,"tweetType":1,"viewCount":1095,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690069482,"gmtCreate":1639614228200,"gmtModify":1639614228288,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Haha those who bought it will disagree","listText":"Haha those who bought it will disagree","text":"Haha those who bought it will disagree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/690069482","repostId":"1143795954","repostType":4,"isVote":1,"tweetType":1,"viewCount":1154,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607824599,"gmtCreate":1639527032051,"gmtModify":1639527032130,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607824599","repostId":"1101216534","repostType":4,"repost":{"id":"1101216534","kind":"news","pubTimestamp":1639525158,"share":"https://www.laohunote.com/m/news/1101216534?lang=zh_CN&edition=full","pubTime":"2021-12-15 07:39","market":"us","language":"en","title":"PayPal Holdings: Buying This Dip Will Make You Pay Pal<blockquote>PayPal控股：逢低买入会让你付出代价</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101216534","media":"seekingalpha","summary":"Summary\n\nPayPal Holdings has demonstrated weak returns on invested capital in 2021 relative to their","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>PayPal Holdings has demonstrated weak returns on invested capital in 2021 relative to their peers.</li>  <li>The company is currently trading at 53 times its GAAP forward earnings making shares egregiously over-priced.</li>  <li>I believe that PayPal's FCF calculation is not a fair representation with transaction and credit losses being added to the company's cashflow.</li>  <li>Advancement in financial technology will begin to reduce the benefit of PayPal's value proposition.</li> </ul> </p><p><blockquote><ul><li>与同行相比，PayPal控股公司 2021 年的投资资本回报率较弱。</li><li>该公司目前的交易价格是其 GAAP 预期市盈率的 53 倍，导致股价严重高估。</li><li>我认为 PayPal 的自由现金流计算并不公正，因为交易和信用损失被添加到公司的现金流中。</li><li>金融技术的进步将开始降低 PayPal 价值主张的好处。</li></ul></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> PayPal Holdings (PYPL), the household online payment firm with around 416 million active merchant accounts is currently gaining investors attention after sliding 30% over the last 6 months. The stock is extremely popular amongst American investors as approximately 245 hedge funds have it in their top 10 holdings. That being said, despite the large institutions and Wall Street's optimism around the stock, I fail to see what the majority of analysts see in PayPal. To begin with, despite the company's stock sliding 30% over the last 6 months, PayPal is still trading at a GAAP forward Price-to-earnings multiple of 53. Secondly, the company has had poor performance when looking at their return on invested capital. Thirdly, PayPal's FCF calculations in my opinion are inaccurate to the actual volume of cash the company is bringing in. Lastly, PayPal's business model appears to be fizzling out as India's FinTech expansion has shown that a transaction middleman is becoming increasingly redundant.</p><p><blockquote>PayPal控股公司 (PYPL) 是一家拥有约 4.16 亿活跃商户账户的家庭在线支付公司，在过去 6 个月下滑 30% 后，目前正受到投资者的关注。该股在美国投资者中非常受欢迎，约有 245 家对冲基金将其列为前 10 名持股。话虽如此，尽管大型机构和华尔街对该股持乐观态度，但我看不到大多数分析师对PayPal的看法。首先，尽管该公司的股价在过去 6 个月内下跌了 30%，但PayPal的 GAAP 远期市盈率仍然为 53。其次，从投资资本回报率来看，该公司表现不佳。第三，在我看来，PayPal 的自由现金流计算与该公司实际带来的现金量并不准确。最后，随着印度金融科技的扩张表明交易中间商变得越来越多余，PayPal 的商业模式似乎正在失败。</blockquote></p><p> <b>PayPal's Underperformance</b></p><p><blockquote><b>PayPal 表现不佳</b></blockquote></p><p> In order for me to come to the conclusion that PayPal has under-performed this year, I had compared the returns on invested capital of PayPal versus peers Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA). The return on invested capital is a key metric measuring how well management is at deploying their capital profitably. The following are the three companies current ROIC.</p><p><blockquote>为了让我得出PayPal今年表现不佳的结论，我将PayPal的投资资本回报率与同行 Visa Inc (NYSE:V) 和 Mastercard Inc (NYSE:MA) 进行了比较。投资资本回报率是衡量管理层盈利部署资本情况的关键指标。以下是三家公司目前的投资回报率。</blockquote></p><p> PYPL return on invested capital</p><p><blockquote>PYPL投资资本回报率</blockquote></p><p> Data by YCharts</p><p><blockquote>数据由YCharts提供</blockquote></p><p> One of the main reasons why Visa and Mastercard has and will continue to outperform PayPal in returns on invested capital is because their business models are much less risky. Visa and Mastercard are just payment processors who pass on any additional risks to retailers and banks, whereas PayPal has to endure the risk of a merchant either defaulting or not making a payment. That additional risk PayPal is forced to endure leads to transaction and credit losses which hurts their profitability. This ultimately gives PayPal's competitors a competitive advantage when looking through the lens of an investor.</p><p><blockquote>Visa 和万事达卡在投资资本回报率方面已经并将继续优于PayPal的主要原因之一是因为它们的商业模式风险要小得多。Visa 和万事达卡只是支付处理商，将任何额外风险转嫁给零售商和银行，而PayPal则必须承担商家违约或不付款的风险。PayPal被迫承受的额外风险会导致交易和信用损失，从而损害其盈利能力。从投资者的角度来看，这最终使 PayPal 的竞争对手具有竞争优势。</blockquote></p><p> <b>Transaction And Credit Losses</b></p><p><blockquote><b>交易及信贷亏损</b></blockquote></p><p> From my perspective, the method in which is used to calculate PayPal's cashflows comes with some misrepresentations. The big problem with PayPal's FCF calculation is that they are able to add back all of their transaction and credit losses back onto their cashflow statement. This made up around 30% of PayPal's operating cashflow in 2020.</p><p><blockquote>从我的角度来看，用于计算 PayPal 现金流的方法存在一些误解。PayPal 自由现金流计算的大问题是，他们能够将所有交易和信用损失加回到现金流量表中。这约占 PayPal 2020 年运营现金流的 30%。</blockquote></p><p> As you can see, these transaction and credit losses have been making up a solid chunk of PayPal's annual free cashflow. These transaction and credit losses are simple to explain. PayPal provides loans to individuals with bad credit, and should they write off those bad loans (which they're in fact doing a lot of), the losses are added back on PayPal's cashflow statement. I am of the opinion that investors should be aware of the risks involved in this and be vigilant when accounting it in your analysis. PayPal even acknowledges the risk of these bad loans in their 10-k form.</p><p><blockquote>如您所见，这些交易和信用损失已构成 PayPal 年度自由现金流的很大一部分。这些交易和信用损失很容易解释。PayPal向信用不良的个人提供贷款，如果他们注销这些不良贷款（事实上他们已经做了很多），损失会被添加到 PayPal 的现金流量表中。我认为投资者应该意识到其中涉及的风险，并在您的分析中考虑它时保持警惕。PayPal甚至在10-k表格中承认这些不良贷款的风险。</blockquote></p><p> For this reason, the large amount of transaction and credit losses being added back onto PayPal's cashflow statement represent additional risk and also leads me to believe that their cashflow calculation is slightly misrepresented.</p><p><blockquote>因此，PayPal 现金流量表中添加的大量交易和信用损失代表了额外的风险，也让我相信他们的现金流量计算略有失实。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> In order to compute the intrinsic value of PayPal stock, I will provide a discount cashflow model. The following is a forecast of some key data points needed to compute the calculation (all figures in millions USD).</p><p><blockquote>为了计算PayPal股票的内在价值，我将提供一个贴现现金流模型。以下是计算计算所需的一些关键数据点的预测（所有数字均以百万美元为单位）。</blockquote></p><p> For this calculation, I will be subtracting PayPal's transaction and credit losses as I've earlier stated that they overstate the company's cashflow. Additionally, I used 3 year moving averages to forecast D&amp;A and CapEx costs. Lastly, I chose a discount rate of 8% and a perpetual growth rate of 3%. The following is my discount cashflow model.</p><p><blockquote>在此计算中，我将减去 PayPal 的交易和信用损失，因为我之前已经说过，它们夸大了公司的现金流。此外，我使用 3 年移动平均值来预测 D&amp;A 和资本支出成本。最后，我选择了8%的贴现率和3%的永久增长率。以下是我的折扣现金流模型。</blockquote></p><p> My final consensus after computing my DCF model is that PayPal's intrinsic value is 77% lower than where shares are currently trading. This makes PayPal shares egregiously overvalued. Furthermore, looking deeper at PayPal's valuation using a comparable cost analysis, you can once again see by comparing the company's EV/EBITDA ratio to Visa and Mastercard, how overpriced PayPal shares are currently when compared to its peers.</p><p><blockquote>在计算我的 DCF 模型后，我的最终共识是 PayPal 的内在价值比当前股票交易价低 77%。这使得PayPal股票被严重高估。此外，使用可比成本分析更深入地研究 PayPal 的估值，通过将该公司的 EV/EBITDA 比率与 Visa 和 Mastercard 进行比较，您可以再次看到PayPal股票与同行相比目前的定价有多高。</blockquote></p><p></p><p> I thought it would be important to add that PayPal's 1 year EPS growth rate is only about 4%, which compared to peers Visa and Mastercard is worse. Additionally, despite PayPal having a higher EV/EBITDA than both Mastercard and Visa, the company's YoY quarterly EPS growth has been lower and has shown a massive slowdown. Moreover, I don't expect PayPal's growth to pick up in the future as the industry moves away from their value proposition. The following is a chart representing quarterly YoY growth of the three companies.</p><p><blockquote>我认为有必要补充一点，PayPal 的 1 年每股收益增长率仅为 4% 左右，与同行 Visa 和万事达卡相比更差。此外，尽管PayPal的 EV/EBITDA 高于万事达卡和 Visa，但该公司的季度每股收益同比增长较低，并出现大幅放缓。此外，随着行业偏离其价值主张，我预计 PayPal 的增长未来不会加快。以下是这三家公司的季度同比增长图表。</blockquote></p><p> As you can see, PayPal's EV-to-EBITDA is higher, despite lower EPS growth then their two largest rivals. To conclude on PayPal's valuation, PayPal has the price of a growth stock however, the company's growth rate and growth catalyst closer resembles a retirement value stock. This further amplifies my conviction that in my opinion PayPal shares are overvalued.</p><p><blockquote>正如您所看到的，尽管 PayPal 的每股收益增长率低于其两个最大竞争对手，但其 EV 与 EBITDA 的比率较高。总结 PayPal 的估值，PayPal的价格相当于成长型股票，然而，该公司的增长率和增长催化剂更类似于退休价值股票。这进一步强化了我的信念，即在我看来，PayPal股票被高估了。</blockquote></p><p> <b>FinTech Evolution Is Leaving PayPal Behind</b></p><p><blockquote><b>金融科技的发展正在将PayPal抛在身后</b></blockquote></p><p> When PayPal originally released its initial concept and value proposition, it took the world by storm as their business model was nothing others had seen before. That being said, the greatest risk PayPal faces in the future is that its clock may be ticking as banks and other new FinTech solutions change the market to where we just have bank-to-bank transactions, leaving less need for a middleman such as PayPal. You're already beginning to see this in countries such as China and now India. India specifically is set to have bank-to-bank digital payments increase rapidly over the next couple of years. The following is the forecasted dollar amount of digital payments in India in trillions of rupees.</p><p><blockquote>当PayPal最初发布其最初的概念和价值主张时，它席卷了世界，因为他们的商业模式是其他人以前从未见过的。话虽如此，PayPal未来面临的最大风险是，随着银行和其他新的金融科技解决方案将市场转变为只有银行对银行交易的市场，从而减少对PayPal等中间商的需求，它的时间可能会流逝。你已经开始在中国和现在的印度等国家看到这一点。特别是印度，未来几年银行间数字支付将迅速增长。以下是印度数字支付的预测金额，单位为万亿卢比。</blockquote></p><p> Between China and India's adoption of FinTech and digital payments, the countries are setting the stage as to where the payment market will be headed in the next couple of years. Unfortunately for PayPal, that seems to be a world without a middleman between a merchant and a bank. Mastercard and Visa don't carry this risk because both companies just process payments, leaving them to be much better alternative investments.</p><p><blockquote>随着中国和印度采用金融科技和数字支付，两国正在为未来几年支付市场的发展方向奠定基础。对PayPal来说不幸的是，这似乎是一个没有商人和银行之间中间人的世界。万事达卡和维萨卡不承担这种风险，因为两家公司都只处理付款，这使得它们成为更好的替代投资。</blockquote></p><p> <b>Why I Could Be Wrong And Final Thoughts</b></p><p><blockquote><b>为什么我可能是错的和最后的想法</b></blockquote></p><p> To conclude my bearish PayPal thesis, I would like to say that if PayPal is able to pull together a couple of decent quarters, then in the short-term I could be wrong about the stock price as Wall Street's fondness for the company could push the valuation a little bit higher. That being said, I have to say that longer-term this is definitely a position I would want to avoid. PayPal's FCF calculations in my opinion are questionable, the company is currently egregiously overpriced with little growth, and its business model could begin to be fazed out down the line. For these reasons, I believe that PayPal is poised to fall by an additional 30-40% over the next 1-2 years. As much as investors want to talk about the past performance for this company, past performance does not equate to future performance. Therefore, I have to say that if you decide to purchase some PayPal shares, I think you will certainly pay pal.</p><p><blockquote>总结我的看跌PayPal论点，我想说，如果PayPal能够实现几个不错的季度，那么在短期内我对股价的看法可能是错误的，因为华尔街对该公司的喜爱可能会推高估值一点。话虽如此，我不得不说，从长远来看，这绝对是我想要避免的职位。在我看来，PayPal 的自由现金流计算值得怀疑，该公司目前定价严重过高，增长甚微，其商业模式未来可能会开始被淘汰。出于这些原因，我认为PayPal将在未来1-2年内再下跌30-40%。尽管投资者想谈论这家公司过去的业绩，但过去的业绩并不等同于未来的业绩。因此，我不得不说，如果你决定购买一些PayPal股票，我认为你肯定会支付pal。</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>PayPal Holdings: Buying This Dip Will Make You Pay Pal<blockquote>PayPal控股：逢低买入会让你付出代价</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\">\nPayPal Holdings: Buying This Dip Will Make You Pay Pal<blockquote>PayPal控股：逢低买入会让你付出代价</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 07:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>PayPal Holdings has demonstrated weak returns on invested capital in 2021 relative to their peers.</li>  <li>The company is currently trading at 53 times its GAAP forward earnings making shares egregiously over-priced.</li>  <li>I believe that PayPal's FCF calculation is not a fair representation with transaction and credit losses being added to the company's cashflow.</li>  <li>Advancement in financial technology will begin to reduce the benefit of PayPal's value proposition.</li> </ul> </p><p><blockquote><ul><li>与同行相比，PayPal控股公司 2021 年的投资资本回报率较弱。</li><li>该公司目前的交易价格是其 GAAP 预期市盈率的 53 倍，导致股价严重高估。</li><li>我认为 PayPal 的自由现金流计算并不公正，因为交易和信用损失被添加到公司的现金流中。</li><li>金融技术的进步将开始降低 PayPal 价值主张的好处。</li></ul></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> PayPal Holdings (PYPL), the household online payment firm with around 416 million active merchant accounts is currently gaining investors attention after sliding 30% over the last 6 months. The stock is extremely popular amongst American investors as approximately 245 hedge funds have it in their top 10 holdings. That being said, despite the large institutions and Wall Street's optimism around the stock, I fail to see what the majority of analysts see in PayPal. To begin with, despite the company's stock sliding 30% over the last 6 months, PayPal is still trading at a GAAP forward Price-to-earnings multiple of 53. Secondly, the company has had poor performance when looking at their return on invested capital. Thirdly, PayPal's FCF calculations in my opinion are inaccurate to the actual volume of cash the company is bringing in. Lastly, PayPal's business model appears to be fizzling out as India's FinTech expansion has shown that a transaction middleman is becoming increasingly redundant.</p><p><blockquote>PayPal控股公司 (PYPL) 是一家拥有约 4.16 亿活跃商户账户的家庭在线支付公司，在过去 6 个月下滑 30% 后，目前正受到投资者的关注。该股在美国投资者中非常受欢迎，约有 245 家对冲基金将其列为前 10 名持股。话虽如此，尽管大型机构和华尔街对该股持乐观态度，但我看不到大多数分析师对PayPal的看法。首先，尽管该公司的股价在过去 6 个月内下跌了 30%，但PayPal的 GAAP 远期市盈率仍然为 53。其次，从投资资本回报率来看，该公司表现不佳。第三，在我看来，PayPal 的自由现金流计算与该公司实际带来的现金量并不准确。最后，随着印度金融科技的扩张表明交易中间商变得越来越多余，PayPal 的商业模式似乎正在失败。</blockquote></p><p> <b>PayPal's Underperformance</b></p><p><blockquote><b>PayPal 表现不佳</b></blockquote></p><p> In order for me to come to the conclusion that PayPal has under-performed this year, I had compared the returns on invested capital of PayPal versus peers Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA). The return on invested capital is a key metric measuring how well management is at deploying their capital profitably. The following are the three companies current ROIC.</p><p><blockquote>为了让我得出PayPal今年表现不佳的结论，我将PayPal的投资资本回报率与同行 Visa Inc (NYSE:V) 和 Mastercard Inc (NYSE:MA) 进行了比较。投资资本回报率是衡量管理层盈利部署资本情况的关键指标。以下是三家公司目前的投资回报率。</blockquote></p><p> PYPL return on invested capital</p><p><blockquote>PYPL投资资本回报率</blockquote></p><p> Data by YCharts</p><p><blockquote>数据由YCharts提供</blockquote></p><p> One of the main reasons why Visa and Mastercard has and will continue to outperform PayPal in returns on invested capital is because their business models are much less risky. Visa and Mastercard are just payment processors who pass on any additional risks to retailers and banks, whereas PayPal has to endure the risk of a merchant either defaulting or not making a payment. That additional risk PayPal is forced to endure leads to transaction and credit losses which hurts their profitability. This ultimately gives PayPal's competitors a competitive advantage when looking through the lens of an investor.</p><p><blockquote>Visa 和万事达卡在投资资本回报率方面已经并将继续优于PayPal的主要原因之一是因为它们的商业模式风险要小得多。Visa 和万事达卡只是支付处理商，将任何额外风险转嫁给零售商和银行，而PayPal则必须承担商家违约或不付款的风险。PayPal被迫承受的额外风险会导致交易和信用损失，从而损害其盈利能力。从投资者的角度来看，这最终使 PayPal 的竞争对手具有竞争优势。</blockquote></p><p> <b>Transaction And Credit Losses</b></p><p><blockquote><b>交易及信贷亏损</b></blockquote></p><p> From my perspective, the method in which is used to calculate PayPal's cashflows comes with some misrepresentations. The big problem with PayPal's FCF calculation is that they are able to add back all of their transaction and credit losses back onto their cashflow statement. This made up around 30% of PayPal's operating cashflow in 2020.</p><p><blockquote>从我的角度来看，用于计算 PayPal 现金流的方法存在一些误解。PayPal 自由现金流计算的大问题是，他们能够将所有交易和信用损失加回到现金流量表中。这约占 PayPal 2020 年运营现金流的 30%。</blockquote></p><p> As you can see, these transaction and credit losses have been making up a solid chunk of PayPal's annual free cashflow. These transaction and credit losses are simple to explain. PayPal provides loans to individuals with bad credit, and should they write off those bad loans (which they're in fact doing a lot of), the losses are added back on PayPal's cashflow statement. I am of the opinion that investors should be aware of the risks involved in this and be vigilant when accounting it in your analysis. PayPal even acknowledges the risk of these bad loans in their 10-k form.</p><p><blockquote>如您所见，这些交易和信用损失已构成 PayPal 年度自由现金流的很大一部分。这些交易和信用损失很容易解释。PayPal向信用不良的个人提供贷款，如果他们注销这些不良贷款（事实上他们已经做了很多），损失会被添加到 PayPal 的现金流量表中。我认为投资者应该意识到其中涉及的风险，并在您的分析中考虑它时保持警惕。PayPal甚至在10-k表格中承认这些不良贷款的风险。</blockquote></p><p> For this reason, the large amount of transaction and credit losses being added back onto PayPal's cashflow statement represent additional risk and also leads me to believe that their cashflow calculation is slightly misrepresented.</p><p><blockquote>因此，PayPal 现金流量表中添加的大量交易和信用损失代表了额外的风险，也让我相信他们的现金流量计算略有失实。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> In order to compute the intrinsic value of PayPal stock, I will provide a discount cashflow model. The following is a forecast of some key data points needed to compute the calculation (all figures in millions USD).</p><p><blockquote>为了计算PayPal股票的内在价值，我将提供一个贴现现金流模型。以下是计算计算所需的一些关键数据点的预测（所有数字均以百万美元为单位）。</blockquote></p><p> For this calculation, I will be subtracting PayPal's transaction and credit losses as I've earlier stated that they overstate the company's cashflow. Additionally, I used 3 year moving averages to forecast D&amp;A and CapEx costs. Lastly, I chose a discount rate of 8% and a perpetual growth rate of 3%. The following is my discount cashflow model.</p><p><blockquote>在此计算中，我将减去 PayPal 的交易和信用损失，因为我之前已经说过，它们夸大了公司的现金流。此外，我使用 3 年移动平均值来预测 D&amp;A 和资本支出成本。最后，我选择了8%的贴现率和3%的永久增长率。以下是我的折扣现金流模型。</blockquote></p><p> My final consensus after computing my DCF model is that PayPal's intrinsic value is 77% lower than where shares are currently trading. This makes PayPal shares egregiously overvalued. Furthermore, looking deeper at PayPal's valuation using a comparable cost analysis, you can once again see by comparing the company's EV/EBITDA ratio to Visa and Mastercard, how overpriced PayPal shares are currently when compared to its peers.</p><p><blockquote>在计算我的 DCF 模型后，我的最终共识是 PayPal 的内在价值比当前股票交易价低 77%。这使得PayPal股票被严重高估。此外，使用可比成本分析更深入地研究 PayPal 的估值，通过将该公司的 EV/EBITDA 比率与 Visa 和 Mastercard 进行比较，您可以再次看到PayPal股票与同行相比目前的定价有多高。</blockquote></p><p></p><p> I thought it would be important to add that PayPal's 1 year EPS growth rate is only about 4%, which compared to peers Visa and Mastercard is worse. Additionally, despite PayPal having a higher EV/EBITDA than both Mastercard and Visa, the company's YoY quarterly EPS growth has been lower and has shown a massive slowdown. Moreover, I don't expect PayPal's growth to pick up in the future as the industry moves away from their value proposition. The following is a chart representing quarterly YoY growth of the three companies.</p><p><blockquote>我认为有必要补充一点，PayPal 的 1 年每股收益增长率仅为 4% 左右，与同行 Visa 和万事达卡相比更差。此外，尽管PayPal的 EV/EBITDA 高于万事达卡和 Visa，但该公司的季度每股收益同比增长较低，并出现大幅放缓。此外，随着行业偏离其价值主张，我预计 PayPal 的增长未来不会加快。以下是这三家公司的季度同比增长图表。</blockquote></p><p> As you can see, PayPal's EV-to-EBITDA is higher, despite lower EPS growth then their two largest rivals. To conclude on PayPal's valuation, PayPal has the price of a growth stock however, the company's growth rate and growth catalyst closer resembles a retirement value stock. This further amplifies my conviction that in my opinion PayPal shares are overvalued.</p><p><blockquote>正如您所看到的，尽管 PayPal 的每股收益增长率低于其两个最大竞争对手，但其 EV 与 EBITDA 的比率较高。总结 PayPal 的估值，PayPal的价格相当于成长型股票，然而，该公司的增长率和增长催化剂更类似于退休价值股票。这进一步强化了我的信念，即在我看来，PayPal股票被高估了。</blockquote></p><p> <b>FinTech Evolution Is Leaving PayPal Behind</b></p><p><blockquote><b>金融科技的发展正在将PayPal抛在身后</b></blockquote></p><p> When PayPal originally released its initial concept and value proposition, it took the world by storm as their business model was nothing others had seen before. That being said, the greatest risk PayPal faces in the future is that its clock may be ticking as banks and other new FinTech solutions change the market to where we just have bank-to-bank transactions, leaving less need for a middleman such as PayPal. You're already beginning to see this in countries such as China and now India. India specifically is set to have bank-to-bank digital payments increase rapidly over the next couple of years. The following is the forecasted dollar amount of digital payments in India in trillions of rupees.</p><p><blockquote>当PayPal最初发布其最初的概念和价值主张时，它席卷了世界，因为他们的商业模式是其他人以前从未见过的。话虽如此，PayPal未来面临的最大风险是，随着银行和其他新的金融科技解决方案将市场转变为只有银行对银行交易的市场，从而减少对PayPal等中间商的需求，它的时间可能会流逝。你已经开始在中国和现在的印度等国家看到这一点。特别是印度，未来几年银行间数字支付将迅速增长。以下是印度数字支付的预测金额，单位为万亿卢比。</blockquote></p><p> Between China and India's adoption of FinTech and digital payments, the countries are setting the stage as to where the payment market will be headed in the next couple of years. Unfortunately for PayPal, that seems to be a world without a middleman between a merchant and a bank. Mastercard and Visa don't carry this risk because both companies just process payments, leaving them to be much better alternative investments.</p><p><blockquote>随着中国和印度采用金融科技和数字支付，两国正在为未来几年支付市场的发展方向奠定基础。对PayPal来说不幸的是，这似乎是一个没有商人和银行之间中间人的世界。万事达卡和维萨卡不承担这种风险，因为两家公司都只处理付款，这使得它们成为更好的替代投资。</blockquote></p><p> <b>Why I Could Be Wrong And Final Thoughts</b></p><p><blockquote><b>为什么我可能是错的和最后的想法</b></blockquote></p><p> To conclude my bearish PayPal thesis, I would like to say that if PayPal is able to pull together a couple of decent quarters, then in the short-term I could be wrong about the stock price as Wall Street's fondness for the company could push the valuation a little bit higher. That being said, I have to say that longer-term this is definitely a position I would want to avoid. PayPal's FCF calculations in my opinion are questionable, the company is currently egregiously overpriced with little growth, and its business model could begin to be fazed out down the line. For these reasons, I believe that PayPal is poised to fall by an additional 30-40% over the next 1-2 years. As much as investors want to talk about the past performance for this company, past performance does not equate to future performance. Therefore, I have to say that if you decide to purchase some PayPal shares, I think you will certainly pay pal.</p><p><blockquote>总结我的看跌PayPal论点，我想说，如果PayPal能够实现几个不错的季度，那么在短期内我对股价的看法可能是错误的，因为华尔街对该公司的喜爱可能会推高估值一点。话虽如此，我不得不说，从长远来看，这绝对是我想要避免的职位。在我看来，PayPal 的自由现金流计算值得怀疑，该公司目前定价严重过高，增长甚微，其商业模式未来可能会开始被淘汰。出于这些原因，我认为PayPal将在未来1-2年内再下跌30-40%。尽管投资者想谈论这家公司过去的业绩，但过去的业绩并不等同于未来的业绩。因此，我不得不说，如果你决定购买一些PayPal股票，我认为你肯定会支付pal。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4475141-paypal-holdings-buying-dip-unattractive\">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":{"PYPL":"PayPal"},"source_url":"https://seekingalpha.com/article/4475141-paypal-holdings-buying-dip-unattractive","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101216534","content_text":"Summary\n\nPayPal Holdings has demonstrated weak returns on invested capital in 2021 relative to their peers.\nThe company is currently trading at 53 times its GAAP forward earnings making shares egregiously over-priced.\nI believe that PayPal's FCF calculation is not a fair representation with transaction and credit losses being added to the company's cashflow.\nAdvancement in financial technology will begin to reduce the benefit of PayPal's value proposition.\n\n\n\nInvestment Thesis\nPayPal Holdings (PYPL), the household online payment firm with around 416 million active merchant accounts is currently gaining investors attention after sliding 30% over the last 6 months. The stock is extremely popular amongst American investors as approximately 245 hedge funds have it in their top 10 holdings. That being said, despite the large institutions and Wall Street's optimism around the stock, I fail to see what the majority of analysts see in PayPal. To begin with, despite the company's stock sliding 30% over the last 6 months, PayPal is still trading at a GAAP forward Price-to-earnings multiple of 53. Secondly, the company has had poor performance when looking at their return on invested capital. Thirdly, PayPal's FCF calculations in my opinion are inaccurate to the actual volume of cash the company is bringing in. Lastly, PayPal's business model appears to be fizzling out as India's FinTech expansion has shown that a transaction middleman is becoming increasingly redundant.\n\nPayPal's Underperformance\nIn order for me to come to the conclusion that PayPal has under-performed this year, I had compared the returns on invested capital of PayPal versus peers Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA). The return on invested capital is a key metric measuring how well management is at deploying their capital profitably. The following are the three companies current ROIC.\n\nPYPL return on invested capital\nData by YCharts\nOne of the main reasons why Visa and Mastercard has and will continue to outperform PayPal in returns on invested capital is because their business models are much less risky. Visa and Mastercard are just payment processors who pass on any additional risks to retailers and banks, whereas PayPal has to endure the risk of a merchant either defaulting or not making a payment. That additional risk PayPal is forced to endure leads to transaction and credit losses which hurts their profitability. This ultimately gives PayPal's competitors a competitive advantage when looking through the lens of an investor.\n\nTransaction And Credit Losses\nFrom my perspective, the method in which is used to calculate PayPal's cashflows comes with some misrepresentations. The big problem with PayPal's FCF calculation is that they are able to add back all of their transaction and credit losses back onto their cashflow statement. This made up around 30% of PayPal's operating cashflow in 2020.\n\nAs you can see, these transaction and credit losses have been making up a solid chunk of PayPal's annual free cashflow. These transaction and credit losses are simple to explain. PayPal provides loans to individuals with bad credit, and should they write off those bad loans (which they're in fact doing a lot of), the losses are added back on PayPal's cashflow statement. I am of the opinion that investors should be aware of the risks involved in this and be vigilant when accounting it in your analysis. PayPal even acknowledges the risk of these bad loans in their 10-k form.\n\nFor this reason, the large amount of transaction and credit losses being added back onto PayPal's cashflow statement represent additional risk and also leads me to believe that their cashflow calculation is slightly misrepresented.\n\nValuation\nIn order to compute the intrinsic value of PayPal stock, I will provide a discount cashflow model. The following is a forecast of some key data points needed to compute the calculation (all figures in millions USD).\n\nFor this calculation, I will be subtracting PayPal's transaction and credit losses as I've earlier stated that they overstate the company's cashflow. Additionally, I used 3 year moving averages to forecast D&A and CapEx costs. Lastly, I chose a discount rate of 8% and a perpetual growth rate of 3%. The following is my discount cashflow model.\nMy final consensus after computing my DCF model is that PayPal's intrinsic value is 77% lower than where shares are currently trading. This makes PayPal shares egregiously overvalued. Furthermore, looking deeper at PayPal's valuation using a comparable cost analysis, you can once again see by comparing the company's EV/EBITDA ratio to Visa and Mastercard, how overpriced PayPal shares are currently when compared to its peers.\n\nI thought it would be important to add that PayPal's 1 year EPS growth rate is only about 4%, which compared to peers Visa and Mastercard is worse. Additionally, despite PayPal having a higher EV/EBITDA than both Mastercard and Visa, the company's YoY quarterly EPS growth has been lower and has shown a massive slowdown. Moreover, I don't expect PayPal's growth to pick up in the future as the industry moves away from their value proposition. The following is a chart representing quarterly YoY growth of the three companies.\n\nAs you can see, PayPal's EV-to-EBITDA is higher, despite lower EPS growth then their two largest rivals. To conclude on PayPal's valuation, PayPal has the price of a growth stock however, the company's growth rate and growth catalyst closer resembles a retirement value stock. This further amplifies my conviction that in my opinion PayPal shares are overvalued.\n\nFinTech Evolution Is Leaving PayPal Behind\nWhen PayPal originally released its initial concept and value proposition, it took the world by storm as their business model was nothing others had seen before. That being said, the greatest risk PayPal faces in the future is that its clock may be ticking as banks and other new FinTech solutions change the market to where we just have bank-to-bank transactions, leaving less need for a middleman such as PayPal. You're already beginning to see this in countries such as China and now India. India specifically is set to have bank-to-bank digital payments increase rapidly over the next couple of years. The following is the forecasted dollar amount of digital payments in India in trillions of rupees.\n\nBetween China and India's adoption of FinTech and digital payments, the countries are setting the stage as to where the payment market will be headed in the next couple of years. Unfortunately for PayPal, that seems to be a world without a middleman between a merchant and a bank. Mastercard and Visa don't carry this risk because both companies just process payments, leaving them to be much better alternative investments.\n\n\nWhy I Could Be Wrong And Final Thoughts\nTo conclude my bearish PayPal thesis, I would like to say that if PayPal is able to pull together a couple of decent quarters, then in the short-term I could be wrong about the stock price as Wall Street's fondness for the company could push the valuation a little bit higher. That being said, I have to say that longer-term this is definitely a position I would want to avoid. PayPal's FCF calculations in my opinion are questionable, the company is currently egregiously overpriced with little growth, and its business model could begin to be fazed out down the line. For these reasons, I believe that PayPal is poised to fall by an additional 30-40% over the next 1-2 years. As much as investors want to talk about the past performance for this company, past performance does not equate to future performance. Therefore, I have to say that if you decide to purchase some PayPal shares, I think you will certainly pay pal.","news_type":1,"symbols_score_info":{"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604730375,"gmtCreate":1639444711430,"gmtModify":1639444711551,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/604730375","repostId":"2191698116","repostType":4,"isVote":1,"tweetType":1,"viewCount":907,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":859840537,"gmtCreate":1634688996858,"gmtModify":1634688997134,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Swee lah","listText":"Swee lah","text":"Swee lah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/859840537","repostId":"2176710436","repostType":4,"isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821624494,"gmtCreate":1633742210226,"gmtModify":1633742210357,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/821624494","repostId":"1198772378","repostType":4,"isVote":1,"tweetType":1,"viewCount":710,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690069482,"gmtCreate":1639614228200,"gmtModify":1639614228288,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Haha those who bought it will disagree","listText":"Haha those who bought it will disagree","text":"Haha those who bought it will disagree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/690069482","repostId":"1143795954","repostType":4,"isVote":1,"tweetType":1,"viewCount":1154,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":844528760,"gmtCreate":1636443690243,"gmtModify":1636444052002,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/844528760","repostId":"2182447772","repostType":4,"isVote":1,"tweetType":1,"viewCount":661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823087693,"gmtCreate":1633565607896,"gmtModify":1633565608020,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/823087693","repostId":"1106545903","repostType":4,"repost":{"id":"1106545903","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1633563192,"share":"https://www.laohunote.com/m/news/1106545903?lang=zh_CN&edition=full","pubTime":"2021-10-07 07:33","market":"us","language":"en","title":"What to Expect From Tesla's Annual Shareholder Meeting Thursday<blockquote>特斯拉周四年度股东大会有何期待</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106545903","media":"Benzinga Earnings","summary":"Tesla, Inc. is scheduled to hold its annual shareholder meeting Thursday.The Venue:This time around, the annual affair will be presented from the company's Giga Austin at 5:30 p.m. ET in a virtual-only format.A change in venue was communicated by the company on Sept. 27 along with other updates to the original announcement made on Aug. 26. The company had earlier planned to present the meeting from its flagship Fremont Giga.The Agenda:Tesla has four proposals to be discussed at the meeting. Thes","content":"<p><b>Tesla, Inc.</b>&nbsp;is scheduled to hold its annual shareholder meeting Thursday.</p><p><blockquote><b>特斯拉公司。</b>定于周四举行年度股东大会。</blockquote></p><p> <b>The Venue:</b>This time around, the annual affair will be presented from the company's Giga Austin at 5:30 p.m. ET&nbsp;in a virtual-only format.</p><p><blockquote><b>地点：</b>这一次，一年一度的盛会将于下午 5:30 在该公司的 Giga Austin 举行。美国东部时间以虚拟形式举行。</blockquote></p><p> A change in venue was communicated by the company on Sept. 27 along with other updates to the original announcement made on Aug. 26. The company had earlier planned to present the meeting from its flagship Fremont Giga.</p><p><blockquote>该公司于 9 月 27 日宣布了地点的变更，并对 8 月 26 日发布的原始公告进行了其他更新。该公司早些时候计划在其旗舰店 Fremont Giga 举办会议。</blockquote></p><p> <b>The Agenda:</b>Tesla has&nbsp;four proposals to be discussed at the meeting. These include:</p><p><blockquote><b>议程：</b>特斯拉有四项提案要在会上讨论。其中包括：</blockquote></p><p> - Election of two Class II directors to serve for a term of three years</p><p><blockquote>- 选举两名二级董事，任期三年</blockquote></p><p> - amendments to certificate of incorporation to reduce director terms to two years</p><p><blockquote>- 修订公司注册证明书，将董事任期减至两年</blockquote></p><p> - amendments to certificate of incorporation and bylaws to eliminate applicable supermajority voting requirements</p><p><blockquote>- 修订公司注册证明书及章程细则，以取消适用的绝对多数投票规定</blockquote></p><p> - ratification of the appointment of PricewaterhouseCoopers LLP as Tesla's independent registered public accounting firm for the fiscal year ending December&nbsp;2021</p><p><blockquote>-批准委任普华永道会计师事务所为特斯拉截至2021年12月的财政年度的独立注册会计师事务所</blockquote></p><p> A supermajority voting provision requires certain categories of bylaws to be approved by the affirmative vote of at least 66%, or two-thirds of the total voting power of all outstanding shares of Tesla common stock. The company is proposing to eliminate this.</p><p><blockquote>超级多数投票条款要求某些类别的章程必须获得至少66%的赞成票，即特斯拉普通股所有已发行股票总投票权的三分之二。该公司提议消除这一点。</blockquote></p><p> Tesla has also put up for re-election board members&nbsp;<b>James Murdoch,</b>son of medial mogul&nbsp;<b>Rupert Murdoch,</b>and&nbsp;<b>Kimbal Musk,</b>the brother of CEO&nbsp;<b>Elon Musk</b>.</p><p><blockquote>特斯拉还支持连任董事会成员<b>詹姆斯·默多克，</b>医疗大亨之子<b>鲁珀特·默多克，</b>和<b>金巴尔·马斯克，</b>CEO的兄弟<b>埃隆·马斯克</b>.</blockquote></p><p> Proxy advisory firm Institutional Shareholder Services has recommended rejecting the two directors, citing its view that they have been excessively compensated.</p><p><blockquote>代理咨询公司 Institutional Shareholder Services 建议解雇这两名董事，理由是他们获得了过高的薪酬。</blockquote></p><p> <b>The Shareholder Proposals:</b>Shareholders have put forward five proposals, including the reduction of a director's term to one year, additional reporting on diversity and inclusion efforts, reporting on employee arbitration, assigning responsibility for strategic oversight of human capital management to an independent board-level committee and additional reporting on human rights.</p><p><blockquote><b>股东建议：</b>股东提出了五项建议，包括将董事任期缩短至一年、增加关于多元化和包容性工作的报告、关于员工仲裁的报告、将人力资本管理战略监督的责任分配给一个独立的董事会级委员会以及增加关于人权的报告。</blockquote></p><p> Tesla has accepted only the first proposal for discussion and rejected the other four,which pertain&nbsp;primarily to diversity and inclusion. The company's rejection assumes importance because of the $137 million in&nbsp;damages&nbsp;a jury ordered Tesla to pay for alleged racism in workplace.</p><p><blockquote>特斯拉只接受了第一个讨论提案，拒绝了其他四个主要涉及多样性和包容性的提案。该公司的拒绝很重要，因为陪审团命令特斯拉为涉嫌工作场所种族主义支付 1.37 亿美元的赔偿金。</blockquote></p><p> \"The virtual meeting will feature live audio webcasts, plus the option for stockholders to submit votes and written comments and questions on meeting agenda items,\" Tesla said in definitive proxy statement filed in late September.</p><p><blockquote>特斯拉在 9 月底提交的最终委托书中表示：“虚拟会议将提供现场音频网络广播，以及股东可以选择就会议议程项目提交投票、书面评论和问题。”</blockquote></p><p> <b>Investor&nbsp;Questions That Could Be Addressed:</b>Tesla has invited investors to ask and upvote questions that they would like addressed.</p><p><blockquote><b>可以解答的投资者问题：</b>特斯拉邀请投资者提出并投票支持他们希望得到解答的问题。</blockquote></p><p> About 3,265 questions have been posted on the page so far. Some of the questions with the highest upvotes are the&nbsp;Cybertruck&nbsp;production start timeline and the rate of ramp; a&nbsp;potential stock split; the&nbsp;possibility of the company's proprietary 4680 battery cell launching this year;&nbsp;dividend plans; and a quarterly update on the energy business.</p><p><blockquote>到目前为止，页面上已经发布了大约3265个问题。支持率最高的一些问题是 Cybertruck 生产启动时间表和 ramp 速度；潜在的股票分割；公司专有的4680电芯今年推出的可能性；股息计划；以及能源业务的季度更新。</blockquote></p><p> <b>New Headquarters On The Horizon?</b>Given that the venue was shifted to Giga Austin, tongues have begun wagging about the company potentially shifting its headquarters to Austin.</p><p><blockquote><b>新总部即将到来？</b>鉴于地点已转移到 Giga Austin，人们开始谈论该公司可能将总部迁至奥斯汀。</blockquote></p><p> Citing Musk spending more time at Giga Austin, CFO<b>Zachary Kirkhorn</b>buying a house in Austin and the company datelining its last two press releases as from Austin, Texas, Bloomberg said a shift in corporate headquarters to Texas could be a possibility.</p><p><blockquote>首席财务官称马斯克在 Giga Austin 度过了更多时间<b>扎卡里·柯克霍恩</b>彭博社在奥斯汀买了一栋房子，该公司在德克萨斯州奥斯汀发布了最后两份新闻稿，并表示公司总部有可能迁至德克萨斯州。</blockquote></p><p> <b>TSLA Price Action:</b>Tesla shares gained 0.28% Wednesday, closing at $782.75.</p><p><blockquote><b>特斯拉价格走势：</b>特斯拉股价周三上涨0.28%，收于782.75美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/140145d2ab6288e5002f3c3b931a0805\" tg-width=\"750\" tg-height=\"1334\" width=\"100%\" height=\"auto\"></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>What to Expect From Tesla's Annual Shareholder Meeting Thursday<blockquote>特斯拉周四年度股东大会有何期待</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\">\nWhat to Expect From Tesla's Annual Shareholder Meeting Thursday<blockquote>特斯拉周四年度股东大会有何期待</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-10-07 07:33</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Tesla, Inc.</b>&nbsp;is scheduled to hold its annual shareholder meeting Thursday.</p><p><blockquote><b>特斯拉公司。</b>定于周四举行年度股东大会。</blockquote></p><p> <b>The Venue:</b>This time around, the annual affair will be presented from the company's Giga Austin at 5:30 p.m. ET&nbsp;in a virtual-only format.</p><p><blockquote><b>地点：</b>这一次，一年一度的盛会将于下午 5:30 在该公司的 Giga Austin 举行。美国东部时间以虚拟形式举行。</blockquote></p><p> A change in venue was communicated by the company on Sept. 27 along with other updates to the original announcement made on Aug. 26. The company had earlier planned to present the meeting from its flagship Fremont Giga.</p><p><blockquote>该公司于 9 月 27 日宣布了地点的变更，并对 8 月 26 日发布的原始公告进行了其他更新。该公司早些时候计划在其旗舰店 Fremont Giga 举办会议。</blockquote></p><p> <b>The Agenda:</b>Tesla has&nbsp;four proposals to be discussed at the meeting. These include:</p><p><blockquote><b>议程：</b>特斯拉有四项提案要在会上讨论。其中包括：</blockquote></p><p> - Election of two Class II directors to serve for a term of three years</p><p><blockquote>- 选举两名二级董事，任期三年</blockquote></p><p> - amendments to certificate of incorporation to reduce director terms to two years</p><p><blockquote>- 修订公司注册证明书，将董事任期减至两年</blockquote></p><p> - amendments to certificate of incorporation and bylaws to eliminate applicable supermajority voting requirements</p><p><blockquote>- 修订公司注册证明书及章程细则，以取消适用的绝对多数投票规定</blockquote></p><p> - ratification of the appointment of PricewaterhouseCoopers LLP as Tesla's independent registered public accounting firm for the fiscal year ending December&nbsp;2021</p><p><blockquote>-批准委任普华永道会计师事务所为特斯拉截至2021年12月的财政年度的独立注册会计师事务所</blockquote></p><p> A supermajority voting provision requires certain categories of bylaws to be approved by the affirmative vote of at least 66%, or two-thirds of the total voting power of all outstanding shares of Tesla common stock. The company is proposing to eliminate this.</p><p><blockquote>超级多数投票条款要求某些类别的章程必须获得至少66%的赞成票，即特斯拉普通股所有已发行股票总投票权的三分之二。该公司提议消除这一点。</blockquote></p><p> Tesla has also put up for re-election board members&nbsp;<b>James Murdoch,</b>son of medial mogul&nbsp;<b>Rupert Murdoch,</b>and&nbsp;<b>Kimbal Musk,</b>the brother of CEO&nbsp;<b>Elon Musk</b>.</p><p><blockquote>特斯拉还支持连任董事会成员<b>詹姆斯·默多克，</b>医疗大亨之子<b>鲁珀特·默多克，</b>和<b>金巴尔·马斯克，</b>CEO的兄弟<b>埃隆·马斯克</b>.</blockquote></p><p> Proxy advisory firm Institutional Shareholder Services has recommended rejecting the two directors, citing its view that they have been excessively compensated.</p><p><blockquote>代理咨询公司 Institutional Shareholder Services 建议解雇这两名董事，理由是他们获得了过高的薪酬。</blockquote></p><p> <b>The Shareholder Proposals:</b>Shareholders have put forward five proposals, including the reduction of a director's term to one year, additional reporting on diversity and inclusion efforts, reporting on employee arbitration, assigning responsibility for strategic oversight of human capital management to an independent board-level committee and additional reporting on human rights.</p><p><blockquote><b>股东建议：</b>股东提出了五项建议，包括将董事任期缩短至一年、增加关于多元化和包容性工作的报告、关于员工仲裁的报告、将人力资本管理战略监督的责任分配给一个独立的董事会级委员会以及增加关于人权的报告。</blockquote></p><p> Tesla has accepted only the first proposal for discussion and rejected the other four,which pertain&nbsp;primarily to diversity and inclusion. The company's rejection assumes importance because of the $137 million in&nbsp;damages&nbsp;a jury ordered Tesla to pay for alleged racism in workplace.</p><p><blockquote>特斯拉只接受了第一个讨论提案，拒绝了其他四个主要涉及多样性和包容性的提案。该公司的拒绝很重要，因为陪审团命令特斯拉为涉嫌工作场所种族主义支付 1.37 亿美元的赔偿金。</blockquote></p><p> \"The virtual meeting will feature live audio webcasts, plus the option for stockholders to submit votes and written comments and questions on meeting agenda items,\" Tesla said in definitive proxy statement filed in late September.</p><p><blockquote>特斯拉在 9 月底提交的最终委托书中表示：“虚拟会议将提供现场音频网络广播，以及股东可以选择就会议议程项目提交投票、书面评论和问题。”</blockquote></p><p> <b>Investor&nbsp;Questions That Could Be Addressed:</b>Tesla has invited investors to ask and upvote questions that they would like addressed.</p><p><blockquote><b>可以解答的投资者问题：</b>特斯拉邀请投资者提出并投票支持他们希望得到解答的问题。</blockquote></p><p> About 3,265 questions have been posted on the page so far. Some of the questions with the highest upvotes are the&nbsp;Cybertruck&nbsp;production start timeline and the rate of ramp; a&nbsp;potential stock split; the&nbsp;possibility of the company's proprietary 4680 battery cell launching this year;&nbsp;dividend plans; and a quarterly update on the energy business.</p><p><blockquote>到目前为止，页面上已经发布了大约3265个问题。支持率最高的一些问题是 Cybertruck 生产启动时间表和 ramp 速度；潜在的股票分割；公司专有的4680电芯今年推出的可能性；股息计划；以及能源业务的季度更新。</blockquote></p><p> <b>New Headquarters On The Horizon?</b>Given that the venue was shifted to Giga Austin, tongues have begun wagging about the company potentially shifting its headquarters to Austin.</p><p><blockquote><b>新总部即将到来？</b>鉴于地点已转移到 Giga Austin，人们开始谈论该公司可能将总部迁至奥斯汀。</blockquote></p><p> Citing Musk spending more time at Giga Austin, CFO<b>Zachary Kirkhorn</b>buying a house in Austin and the company datelining its last two press releases as from Austin, Texas, Bloomberg said a shift in corporate headquarters to Texas could be a possibility.</p><p><blockquote>首席财务官称马斯克在 Giga Austin 度过了更多时间<b>扎卡里·柯克霍恩</b>彭博社在奥斯汀买了一栋房子，该公司在德克萨斯州奥斯汀发布了最后两份新闻稿，并表示公司总部有可能迁至德克萨斯州。</blockquote></p><p> <b>TSLA Price Action:</b>Tesla shares gained 0.28% Wednesday, closing at $782.75.</p><p><blockquote><b>特斯拉价格走势：</b>特斯拉股价周三上涨0.28%，收于782.75美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/140145d2ab6288e5002f3c3b931a0805\" tg-width=\"750\" tg-height=\"1334\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106545903","content_text":"Tesla, Inc. is scheduled to hold its annual shareholder meeting Thursday.\nThe Venue:This time around, the annual affair will be presented from the company's Giga Austin at 5:30 p.m. ET in a virtual-only format.\nA change in venue was communicated by the company on Sept. 27 along with other updates to the original announcement made on Aug. 26. The company had earlier planned to present the meeting from its flagship Fremont Giga.\nThe Agenda:Tesla has four proposals to be discussed at the meeting. These include:\n- Election of two Class II directors to serve for a term of three years\n- amendments to certificate of incorporation to reduce director terms to two years\n- amendments to certificate of incorporation and bylaws to eliminate applicable supermajority voting requirements\n- ratification of the appointment of PricewaterhouseCoopers LLP as Tesla's independent registered public accounting firm for the fiscal year ending December 2021\nA supermajority voting provision requires certain categories of bylaws to be approved by the affirmative vote of at least 66%, or two-thirds of the total voting power of all outstanding shares of Tesla common stock. The company is proposing to eliminate this.\nTesla has also put up for re-election board members James Murdoch,son of medial mogul Rupert Murdoch,and Kimbal Musk,the brother of CEO Elon Musk.\nProxy advisory firm Institutional Shareholder Services has recommended rejecting the two directors, citing its view that they have been excessively compensated.\nThe Shareholder Proposals:Shareholders have put forward five proposals, including the reduction of a director's term to one year, additional reporting on diversity and inclusion efforts, reporting on employee arbitration, assigning responsibility for strategic oversight of human capital management to an independent board-level committee and additional reporting on human rights.\nTesla has accepted only the first proposal for discussion and rejected the other four,which pertain primarily to diversity and inclusion. The company's rejection assumes importance because of the $137 million in damages a jury ordered Tesla to pay for alleged racism in workplace.\n\"The virtual meeting will feature live audio webcasts, plus the option for stockholders to submit votes and written comments and questions on meeting agenda items,\" Tesla said in definitive proxy statement filed in late September.\nInvestor Questions That Could Be Addressed:Tesla has invited investors to ask and upvote questions that they would like addressed.\nAbout 3,265 questions have been posted on the page so far. Some of the questions with the highest upvotes are the Cybertruck production start timeline and the rate of ramp; a potential stock split; the possibility of the company's proprietary 4680 battery cell launching this year; dividend plans; and a quarterly update on the energy business.\nNew Headquarters On The Horizon?Given that the venue was shifted to Giga Austin, tongues have begun wagging about the company potentially shifting its headquarters to Austin.\nCiting Musk spending more time at Giga Austin, CFOZachary Kirkhornbuying a house in Austin and the company datelining its last two press releases as from Austin, Texas, Bloomberg said a shift in corporate headquarters to Texas could be a possibility.\nTSLA Price Action:Tesla shares gained 0.28% Wednesday, closing at $782.75.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":671,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":898643442,"gmtCreate":1628496296786,"gmtModify":1633746682343,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Thanks for the info","listText":"Thanks for the info","text":"Thanks for the info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898643442","repostId":"2157492988","repostType":4,"isVote":1,"tweetType":1,"viewCount":555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":603611611,"gmtCreate":1638404820472,"gmtModify":1638404820611,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Haiz","listText":"Haiz","text":"Haiz","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/603611611","repostId":"1102558803","repostType":4,"isVote":1,"tweetType":1,"viewCount":457,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872253347,"gmtCreate":1637540849977,"gmtModify":1637540849977,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/872253347","repostId":"1116255034","repostType":4,"isVote":1,"tweetType":1,"viewCount":1082,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":885916939,"gmtCreate":1631750848821,"gmtModify":1631885195330,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/885916939","repostId":"2167592712","repostType":4,"isVote":1,"tweetType":1,"viewCount":437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832664760,"gmtCreate":1629623345150,"gmtModify":1631889902137,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575188860884045","authorIdStr":"3575188860884045"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/832664760","repostId":"1156125276","repostType":4,"repost":{"id":"1156125276","kind":"news","pubTimestamp":1629603613,"share":"https://www.laohunote.com/m/news/1156125276?lang=zh_CN&edition=full","pubTime":"2021-08-22 11:40","market":"us","language":"en","title":"Who is Cathie Wood? What you should know Ark Invest's ace stock picker<blockquote>凯西·伍德是谁？您应该知道什么 Ark Investment 的王牌选股师</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1156125276","media":"MoneyWise","summary":"Move over, Warren Buffett. There’s a new oracle in town.\nLast year, Cathie Wood, founder of asset ma","content":"<p>Move over, Warren Buffett. There’s a new oracle in town.</p><p><blockquote>让开，沃伦·巴菲特。镇上来了一位新神谕。</blockquote></p><p> Last year, Cathie Wood, founder of asset management firm Ark Invest, established herself as a master of the modern exchange-traded fund (ETF). In 2020, her flagship Ark Innovation ETF (ARKK) posted eye-watering gains of 153%, easily crushing the return of the overall stock market.</p><p><blockquote>去年，资产管理公司 Ark Invest 的创始人凯西·伍德 (Cathie Wood) 将自己确立为现代交易所交易基金 (ETF) 的大师。2020年，她的旗舰方舟创新ETF（ARKK）公布了令人瞠目结舌的153%的涨幅，轻松碾压了整体股市的回报。</blockquote></p><p> Over the past five years, ARKK has averaged an annual return of greater than 40%.</p><p><blockquote>过去五年，ARKK 的平均年回报率超过 40%。</blockquote></p><p> While ARKK and another of the company’s funds, Ark Genomic Revolution ETF (ARKG), have struggled this year, money from investors continues to pour in and CEOs like Elon Musk want to be on her podcast. You may even have Ark fundsin your portfolio.</p><p><blockquote>虽然 ARKK 和该公司的另一只基金 Ark Genomic Revolution ETF (ARKG) 今年举步维艰，但投资者的资金仍在不断涌入，埃隆-马斯克（Elon Musk）等首席执行官也希望参加她的播客节目。你的投资组合中甚至可能有方舟基金。</blockquote></p><p> Despite the choppy road Wood's offerings have bumped along in the past few months, investors continue to hold on. Here's why.</p><p><blockquote>尽管 road Wood 的发行在过去几个月中有所波动，但投资者仍继续持有。原因如下。</blockquote></p><p> <b>Just who is Cathie Wood?</b></p><p><blockquote><b>凯西·伍德是谁？</b></blockquote></p><p> When she founded Ark Invest in 2014, Wood had already amassed 40 years of experience researching and investing in innovation. She managed over $5 billion in assets at AllianceBernstein and over $800 million at hedge fund Tupelo Capital Management, which she also founded.</p><p><blockquote>当她在2014年创立Ark Invest时，伍德已经积累了40年的创新研究和投资经验。她在 AllianceBernstein 管理着超过 50 亿美元的资产，在她创立的对冲基金 Tupelo Capital Management 管理着超过 8 亿美元的资产。</blockquote></p><p> Wood launched Ark as a means of packaging active stock portfolios in an ETF format.</p><p><blockquote>Wood 推出 Ark 作为以 ETF 格式打包活跃股票投资组合的一种方式。</blockquote></p><p> By concentrating on innovative, disruptive technologies, Arkinvests in companieswith the potential for both explosive short-term growth and long-term relevance. As the company’s CIO and portfolio manager, the final call on Ark’s investment decisions is Wood’s to make.</p><p><blockquote>通过专注于创新、颠覆性技术，ARKIN投资于具有爆炸性短期增长潜力和长期相关性的公司。作为公司的首席信息官和投资组合经理，伍德对 Ark 的投资决策做出最终看涨期权。</blockquote></p><p> Wood has received plenty of recognition for her investment performance in recent years.</p><p><blockquote>伍德近年来的投资表现得到了很多认可。</blockquote></p><p> She was a featured speaker at the World Economic Forum (China) in 2016 and 2017. In 2018, she was selected by Bloomberg as one of the 50 people defining global business. In 2019,<i>Fortune</i>chose Wood to be one of the experts included in the publication’s annual<i>Fortune Investors Guide</i>.</p><p><blockquote>她是2016年和2017年世界经济论坛（中国）的主题演讲嘉宾。2018年，她被彭博社选为定义全球商业的50人之一。2019年，<i>财富</i>选择伍德作为该出版物年度报告的专家之一。<i>财富投资者指南</i>.</blockquote></p><p> As of Aug. 11,<i>Forbes</i>estimated Wood’s net worth to be $400 million.</p><p><blockquote>截至8月11日，<i>福布斯</i>伍德的净资产估计为 4 亿美元。</blockquote></p><p> <b>Investment philosophy and performance</b></p><p><blockquote><b>投资理念与业绩</b></blockquote></p><p> Ark Invest describes its sole focus as “disruptive innovation,” which allows the firm toinvest in companieswhose products and services are expected to meet the needs of a planet that’s barrelling from crisis to crisis.</p><p><blockquote>Ark Invest 将其唯一的关注点描述为 “颠覆性创新”，这使得公司能够投资那些产品和服务有望满足地球需求的公司。</blockquote></p><p> Ark’s big bet is that technology is the most effective solution to these crises and that a disruption-first ethos is a primary path to greater returns.</p><p><blockquote>Ark 的最大赌注是，技术是解决这些危机的最有效方案，而颠覆第一的理念是获得更高回报的主要途径。</blockquote></p><p> “We’re all about finding the next big thing,” reads a quote from Wood on Ark Invest’s website. “Those hewing to the benchmarks, which are backwards looking, are not about the future. They are about what has worked. We’re all about what is going to work.”</p><p><blockquote>“Ark Invest 网站上引用伍德的话说：”我们都在寻找下一个大事件。“那些坚持基准、向后看的人，不是在关注未来。他们关心的是已经奏效的方法。我们都关心什么会奏效”。</blockquote></p><p> And Wood’s picks are most definitely working.</p><p><blockquote>伍德的选择绝对有效。</blockquote></p><p> Despite the recent sluggishness that ARKK and ARKG are experiencing, both funds have crushed the market over the past five years</p><p><blockquote>尽管 ARKK 和 ARKG 最近经历了低迷，但这两只基金在过去五年中都碾压了市场</blockquote></p><p> ARKK, which includes tech heavyweights Tesla, Zoom, Coinbase, and Shopify among others, has grown by about 450% since the summer of 2016.</p><p><blockquote>ARKK 包括科技巨头特斯拉、Zoom、比特币基地和 Shopify 等，自 2016 年夏季以来增长了约 450%。</blockquote></p><p> Meanwhile, ARKG, which targets technologies like molecular diagnostic and genetics, and holds companies such as virtual healthcare provider Teladoc Health and Regeneron Pharmaceuticals, is up roughly 340% over the same time period.</p><p><blockquote>与此同时，以分子诊断和遗传学等技术为目标，并拥有虚拟医疗保健提供商 Teladoc Health 和再生元制药等公司的 ARKG 同期股价上涨了约 340%。</blockquote></p><p> <b>Recent struggles providing a buying window?</b></p><p><blockquote><b>最近难以提供购买窗口？</b></blockquote></p><p> Investors who purchased either ARKK or ARKG in 2021 have had little to celebrate, with the ETFs posting year-to-date declines of 9% and 15%, respectively.</p><p><blockquote>2021 年购买 ARKK 或 ARKG 的投资者没有什么值得庆祝的，ETF 年初至今分别下跌了 9% 和 15%。</blockquote></p><p> With investors changing course from growth stocks to economic recovery plays this year, many of Ark’s tech-focused plays have seen their shares decline, dragging down the value of Ark’s ETFs.</p><p><blockquote>今年，随着投资者从成长型股票转向经济复苏型股票，Ark 的许多科技型股票的股价都出现了下跌，拖累了 Ark 的 ETF 价值。</blockquote></p><p> It’s one of the risks of the company’s relatively narrow focus.</p><p><blockquote>这是公司关注点相对狭窄的风险之一。</blockquote></p><p> But despite the recent weakness, investors aren’t exactly losing confidence in the Ark ETFs. In fact, they’re backing Wood with even more money, suggesting they see the dip as an attractive buying opportunity.</p><p><blockquote>尽管近期表现疲软，但投资者并没有对方舟 ETF 失去信心。事实上，他们正在用更多的资金支持伍德，这表明他们将下跌视为一个有吸引力的买入机会。</blockquote></p><p> For instance, ARKK has seen nearly $5.9 billion in inflows this year, bringing its total assets under management to a whopping $22.6 billion.</p><p><blockquote>例如，ARKK 今年的资金流入接近 59 亿美元，使其管理的总资产达到 226 亿美元。</blockquote></p><p> <b>ETFs and beyond</b></p><p><blockquote><b>ETF 及其他</b></blockquote></p><p> Purchasing Ark ETFs is easier than you think. And now might be an ideal time to do it.</p><p><blockquote>购买 Ark ETF 比您想象的要容易。现在可能是这样做的理想时机。</blockquote></p><p> You can get started witha popular investing app, which offers not only ETFs, but also fractional shares. Another app allows you to build a diversified portfolio with little more than the“spare change” left over from your everyday purchases.</p><p><blockquote>您可以从流行的投资应用程序开始，该应用程序不仅提供 ETF，还提供零碎股票。另一款应用程序可以让你用日常购物剩下的 “零钱 ”建立一个多元化的投资组合。</blockquote></p><p> With a little help from theright platform, you can invest alongside Cathie Wood and, hopefully, profit massively from her next set of big ideas.</p><p><blockquote>在这个平台的一点帮助下，你可以和凯西·伍德一起投资，并有望从她的下一套大想法中获得巨额利润。</blockquote></p><p></p>","source":"lsy1621813427262","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 is Cathie Wood? What you should know Ark Invest's ace stock picker<blockquote>凯西·伍德是谁？您应该知道什么 Ark Investment 的王牌选股师</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 is Cathie Wood? What you should know Ark Invest's ace stock picker<blockquote>凯西·伍德是谁？您应该知道什么 Ark Investment 的王牌选股师</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MoneyWise</strong><span class=\"h-time small\">2021-08-22 11:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Move over, Warren Buffett. There’s a new oracle in town.</p><p><blockquote>让开，沃伦·巴菲特。镇上来了一位新神谕。</blockquote></p><p> Last year, Cathie Wood, founder of asset management firm Ark Invest, established herself as a master of the modern exchange-traded fund (ETF). In 2020, her flagship Ark Innovation ETF (ARKK) posted eye-watering gains of 153%, easily crushing the return of the overall stock market.</p><p><blockquote>去年，资产管理公司 Ark Invest 的创始人凯西·伍德 (Cathie Wood) 将自己确立为现代交易所交易基金 (ETF) 的大师。2020年，她的旗舰方舟创新ETF（ARKK）公布了令人瞠目结舌的153%的涨幅，轻松碾压了整体股市的回报。</blockquote></p><p> Over the past five years, ARKK has averaged an annual return of greater than 40%.</p><p><blockquote>过去五年，ARKK 的平均年回报率超过 40%。</blockquote></p><p> While ARKK and another of the company’s funds, Ark Genomic Revolution ETF (ARKG), have struggled this year, money from investors continues to pour in and CEOs like Elon Musk want to be on her podcast. You may even have Ark fundsin your portfolio.</p><p><blockquote>虽然 ARKK 和该公司的另一只基金 Ark Genomic Revolution ETF (ARKG) 今年举步维艰，但投资者的资金仍在不断涌入，埃隆-马斯克（Elon Musk）等首席执行官也希望参加她的播客节目。你的投资组合中甚至可能有方舟基金。</blockquote></p><p> Despite the choppy road Wood's offerings have bumped along in the past few months, investors continue to hold on. Here's why.</p><p><blockquote>尽管 road Wood 的发行在过去几个月中有所波动，但投资者仍继续持有。原因如下。</blockquote></p><p> <b>Just who is Cathie Wood?</b></p><p><blockquote><b>凯西·伍德是谁？</b></blockquote></p><p> When she founded Ark Invest in 2014, Wood had already amassed 40 years of experience researching and investing in innovation. She managed over $5 billion in assets at AllianceBernstein and over $800 million at hedge fund Tupelo Capital Management, which she also founded.</p><p><blockquote>当她在2014年创立Ark Invest时，伍德已经积累了40年的创新研究和投资经验。她在 AllianceBernstein 管理着超过 50 亿美元的资产，在她创立的对冲基金 Tupelo Capital Management 管理着超过 8 亿美元的资产。</blockquote></p><p> Wood launched Ark as a means of packaging active stock portfolios in an ETF format.</p><p><blockquote>Wood 推出 Ark 作为以 ETF 格式打包活跃股票投资组合的一种方式。</blockquote></p><p> By concentrating on innovative, disruptive technologies, Arkinvests in companieswith the potential for both explosive short-term growth and long-term relevance. As the company’s CIO and portfolio manager, the final call on Ark’s investment decisions is Wood’s to make.</p><p><blockquote>通过专注于创新、颠覆性技术，ARKIN投资于具有爆炸性短期增长潜力和长期相关性的公司。作为公司的首席信息官和投资组合经理，伍德对 Ark 的投资决策做出最终看涨期权。</blockquote></p><p> Wood has received plenty of recognition for her investment performance in recent years.</p><p><blockquote>伍德近年来的投资表现得到了很多认可。</blockquote></p><p> She was a featured speaker at the World Economic Forum (China) in 2016 and 2017. In 2018, she was selected by Bloomberg as one of the 50 people defining global business. In 2019,<i>Fortune</i>chose Wood to be one of the experts included in the publication’s annual<i>Fortune Investors Guide</i>.</p><p><blockquote>她是2016年和2017年世界经济论坛（中国）的主题演讲嘉宾。2018年，她被彭博社选为定义全球商业的50人之一。2019年，<i>财富</i>选择伍德作为该出版物年度报告的专家之一。<i>财富投资者指南</i>.</blockquote></p><p> As of Aug. 11,<i>Forbes</i>estimated Wood’s net worth to be $400 million.</p><p><blockquote>截至8月11日，<i>福布斯</i>伍德的净资产估计为 4 亿美元。</blockquote></p><p> <b>Investment philosophy and performance</b></p><p><blockquote><b>投资理念与业绩</b></blockquote></p><p> Ark Invest describes its sole focus as “disruptive innovation,” which allows the firm toinvest in companieswhose products and services are expected to meet the needs of a planet that’s barrelling from crisis to crisis.</p><p><blockquote>Ark Invest 将其唯一的关注点描述为 “颠覆性创新”，这使得公司能够投资那些产品和服务有望满足地球需求的公司。</blockquote></p><p> Ark’s big bet is that technology is the most effective solution to these crises and that a disruption-first ethos is a primary path to greater returns.</p><p><blockquote>Ark 的最大赌注是，技术是解决这些危机的最有效方案，而颠覆第一的理念是获得更高回报的主要途径。</blockquote></p><p> “We’re all about finding the next big thing,” reads a quote from Wood on Ark Invest’s website. “Those hewing to the benchmarks, which are backwards looking, are not about the future. They are about what has worked. We’re all about what is going to work.”</p><p><blockquote>“Ark Invest 网站上引用伍德的话说：”我们都在寻找下一个大事件。“那些坚持基准、向后看的人，不是在关注未来。他们关心的是已经奏效的方法。我们都关心什么会奏效”。</blockquote></p><p> And Wood’s picks are most definitely working.</p><p><blockquote>伍德的选择绝对有效。</blockquote></p><p> Despite the recent sluggishness that ARKK and ARKG are experiencing, both funds have crushed the market over the past five years</p><p><blockquote>尽管 ARKK 和 ARKG 最近经历了低迷，但这两只基金在过去五年中都碾压了市场</blockquote></p><p> ARKK, which includes tech heavyweights Tesla, Zoom, Coinbase, and Shopify among others, has grown by about 450% since the summer of 2016.</p><p><blockquote>ARKK 包括科技巨头特斯拉、Zoom、比特币基地和 Shopify 等，自 2016 年夏季以来增长了约 450%。</blockquote></p><p> Meanwhile, ARKG, which targets technologies like molecular diagnostic and genetics, and holds companies such as virtual healthcare provider Teladoc Health and Regeneron Pharmaceuticals, is up roughly 340% over the same time period.</p><p><blockquote>与此同时，以分子诊断和遗传学等技术为目标，并拥有虚拟医疗保健提供商 Teladoc Health 和再生元制药等公司的 ARKG 同期股价上涨了约 340%。</blockquote></p><p> <b>Recent struggles providing a buying window?</b></p><p><blockquote><b>最近难以提供购买窗口？</b></blockquote></p><p> Investors who purchased either ARKK or ARKG in 2021 have had little to celebrate, with the ETFs posting year-to-date declines of 9% and 15%, respectively.</p><p><blockquote>2021 年购买 ARKK 或 ARKG 的投资者没有什么值得庆祝的，ETF 年初至今分别下跌了 9% 和 15%。</blockquote></p><p> With investors changing course from growth stocks to economic recovery plays this year, many of Ark’s tech-focused plays have seen their shares decline, dragging down the value of Ark’s ETFs.</p><p><blockquote>今年，随着投资者从成长型股票转向经济复苏型股票，Ark 的许多科技型股票的股价都出现了下跌，拖累了 Ark 的 ETF 价值。</blockquote></p><p> It’s one of the risks of the company’s relatively narrow focus.</p><p><blockquote>这是公司关注点相对狭窄的风险之一。</blockquote></p><p> But despite the recent weakness, investors aren’t exactly losing confidence in the Ark ETFs. In fact, they’re backing Wood with even more money, suggesting they see the dip as an attractive buying opportunity.</p><p><blockquote>尽管近期表现疲软，但投资者并没有对方舟 ETF 失去信心。事实上，他们正在用更多的资金支持伍德，这表明他们将下跌视为一个有吸引力的买入机会。</blockquote></p><p> For instance, ARKK has seen nearly $5.9 billion in inflows this year, bringing its total assets under management to a whopping $22.6 billion.</p><p><blockquote>例如，ARKK 今年的资金流入接近 59 亿美元，使其管理的总资产达到 226 亿美元。</blockquote></p><p> <b>ETFs and beyond</b></p><p><blockquote><b>ETF 及其他</b></blockquote></p><p> Purchasing Ark ETFs is easier than you think. And now might be an ideal time to do it.</p><p><blockquote>购买 Ark ETF 比您想象的要容易。现在可能是这样做的理想时机。</blockquote></p><p> You can get started witha popular investing app, which offers not only ETFs, but also fractional shares. Another app allows you to build a diversified portfolio with little more than the“spare change” left over from your everyday purchases.</p><p><blockquote>您可以从流行的投资应用程序开始，该应用程序不仅提供 ETF，还提供零碎股票。另一款应用程序可以让你用日常购物剩下的 “零钱 ”建立一个多元化的投资组合。</blockquote></p><p> With a little help from theright platform, you can invest alongside Cathie Wood and, hopefully, profit massively from her next set of big ideas.</p><p><blockquote>在这个平台的一点帮助下，你可以和凯西·伍德一起投资，并有望从她的下一套大想法中获得巨额利润。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/cathie-wood-know-ark-invests-221500163.html\">MoneyWise</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/cathie-wood-know-ark-invests-221500163.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156125276","content_text":"Move over, Warren Buffett. There’s a new oracle in town.\nLast year, Cathie Wood, founder of asset management firm Ark Invest, established herself as a master of the modern exchange-traded fund (ETF). In 2020, her flagship Ark Innovation ETF (ARKK) posted eye-watering gains of 153%, easily crushing the return of the overall stock market.\nOver the past five years, ARKK has averaged an annual return of greater than 40%.\nWhile ARKK and another of the company’s funds, Ark Genomic Revolution ETF (ARKG), have struggled this year, money from investors continues to pour in and CEOs like Elon Musk want to be on her podcast. You may even have Ark fundsin your portfolio.\nDespite the choppy road Wood's offerings have bumped along in the past few months, investors continue to hold on. Here's why.\nJust who is Cathie Wood?\nWhen she founded Ark Invest in 2014, Wood had already amassed 40 years of experience researching and investing in innovation. She managed over $5 billion in assets at AllianceBernstein and over $800 million at hedge fund Tupelo Capital Management, which she also founded.\nWood launched Ark as a means of packaging active stock portfolios in an ETF format.\nBy concentrating on innovative, disruptive technologies, Arkinvests in companieswith the potential for both explosive short-term growth and long-term relevance. As the company’s CIO and portfolio manager, the final call on Ark’s investment decisions is Wood’s to make.\nWood has received plenty of recognition for her investment performance in recent years.\nShe was a featured speaker at the World Economic Forum (China) in 2016 and 2017. In 2018, she was selected by Bloomberg as one of the 50 people defining global business. In 2019,Fortunechose Wood to be one of the experts included in the publication’s annualFortune Investors Guide.\nAs of Aug. 11,Forbesestimated Wood’s net worth to be $400 million.\nInvestment philosophy and performance\nArk Invest describes its sole focus as “disruptive innovation,” which allows the firm toinvest in companieswhose products and services are expected to meet the needs of a planet that’s barrelling from crisis to crisis.\nArk’s big bet is that technology is the most effective solution to these crises and that a disruption-first ethos is a primary path to greater returns.\n“We’re all about finding the next big thing,” reads a quote from Wood on Ark Invest’s website. “Those hewing to the benchmarks, which are backwards looking, are not about the future. They are about what has worked. We’re all about what is going to work.”\nAnd Wood’s picks are most definitely working.\nDespite the recent sluggishness that ARKK and ARKG are experiencing, both funds have crushed the market over the past five years\nARKK, which includes tech heavyweights Tesla, Zoom, Coinbase, and Shopify among others, has grown by about 450% since the summer of 2016.\nMeanwhile, ARKG, which targets technologies like molecular diagnostic and genetics, and holds companies such as virtual healthcare provider Teladoc Health and Regeneron Pharmaceuticals, is up roughly 340% over the same time period.\nRecent struggles providing a buying window?\nInvestors who purchased either ARKK or ARKG in 2021 have had little to celebrate, with the ETFs posting year-to-date declines of 9% and 15%, respectively.\nWith investors changing course from growth stocks to economic recovery plays this year, many of Ark’s tech-focused plays have seen their shares decline, dragging down the value of Ark’s ETFs.\nIt’s one of the risks of the company’s relatively narrow focus.\nBut despite the recent weakness, investors aren’t exactly losing confidence in the Ark ETFs. In fact, they’re backing Wood with even more money, suggesting they see the dip as an attractive buying opportunity.\nFor instance, ARKK has seen nearly $5.9 billion in inflows this year, bringing its total assets under management to a whopping $22.6 billion.\nETFs and beyond\nPurchasing Ark ETFs is easier than you think. And now might be an ideal time to do it.\nYou can get started witha popular investing app, which offers not only ETFs, but also fractional shares. Another app allows you to build a diversified portfolio with little more than the“spare change” left over from your everyday purchases.\nWith a little help from theright platform, you can invest alongside Cathie Wood and, hopefully, profit massively from her next set of big ideas.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}