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2021-08-04

Is Etsy still a buy now?

Etsy Reports Earnings on Wednesday. Here’s What to Expect.<blockquote>Etsy 周三公布财报。以下是可以期待的。</blockquote>

2021-08-03

Please like tq!

Jeff Bezos is no longer the richest person on the planet after his net worth drops $13.9 billion in one day<blockquote>杰夫·贝索斯的净资产在一天内下降了139亿美元，他不再是这个星球上最富有的人</blockquote>

2021-08-01

👍🏻👍🏻👍🏻

You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>

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Etsy still a buy now?&nbsp;","listText":"Is Etsy still a buy now?&nbsp;","text":"Is Etsy still a buy now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/807474396","repostId":"1167210011","repostType":4,"repost":{"id":"1167210011","kind":"news","pubTimestamp":1628041322,"share":"https://www.laohunote.com/m/news/1167210011?lang=zh_CN&edition=full","pubTime":"2021-08-04 09:42","market":"us","language":"en","title":"Etsy Reports Earnings on Wednesday. Here’s What to Expect.<blockquote>Etsy 周三公布财报。以下是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1167210011","media":"Barrons","summary":"The pressure is on for Etsy to deliver Wednesday when it reports second-quarter earnings. And the artisanal crafts online retailer believes it can—confident that its pandemic growth spurt is here to stay.For the second quarter, executives are forecasting revenue of $493 million to $536 million, representing a 15% to 25% increase year over year, but below the first-quarter’s $551 million.The executives also believe the company can retain most of the gross merchandise sales gains amassed during th","content":"<p>The pressure is on for Etsy to deliver Wednesday when it reports second-quarter earnings. And the artisanal crafts online retailer believes it can—confident that its pandemic growth spurt is here to stay.</p><p><blockquote>Etsy 周三公布第二季度收益时面临着交付的压力。这家手工艺品在线零售商相信它可以——相信其在大流行的增长将会持续下去。</blockquote></p><p> For the second quarter, executives are forecasting revenue of $493 million to $536 million, representing a 15% to 25% increase year over year, but below the first-quarter’s $551 million.</p><p><blockquote>对于第二季度，高管们预测收入为 4.93 亿至 5.36 亿美元，同比增长 15% 至 25%，但低于第一季度的 5.51 亿美元。</blockquote></p><p> Analysts have taken the company officials at their work, expectingEtsy(ticker: ETSY) to report on the high end of their guidance. Wall Street expects revenue of $525 million, up from $429 million a year ago, and&nbsp;earnings per share of 63 cents, up from&nbsp;75 cents.</p><p><blockquote>分析师已要求公司官员开展工作，预计 Getsy（股票代码：ETSY）将报告其指引的高端。华尔街预计营收为 5.25 亿美元，高于一年前的 4.29 亿美元，每股收益为 63 美分，高于 75 美分。</blockquote></p><p> The executives also believe the company can retain most of the gross merchandise sales gains amassed during the pandemic. For 2020’s first quarter, which ended shortly after the start of the lockdown, Etsy reported gross merchandise sales of $1.35 billion. This year’s first-quarter brought in $3.14 billion in gross merchandise sales, and the second-quarter projection isn’t far off—$2.8 billion to $3.1 billion.</p><p><blockquote>高管们还相信，该公司可以保留疫情期间积累的大部分商品销售总额收益。在封锁开始后不久结束的 2020 年第一季度，Etsy 的商品销售总额为 13.5 亿美元。今年第一季度的商品销售总额为 31.4 亿美元，第二季度的预测也不远了--28 亿至 31 亿美元。</blockquote></p><p> Maintaining gross merchandise sales gains will come down to retaining high-spending customers. In the first quarter, the company reported a 205% year over year increase in buyers who made six or more purchases and spent over $200 in the past 12 months. Though just 9% of buyers, the group accounts for 40% of gross merchandise sales. A key concern is whether those consumers would prefer the retail shopping experience, which may be more conducive to impulse purchases.</p><p><blockquote>保持商品总销售额增长将归结为留住高消费客户。第一季度，该公司报告称，在过去 12 个月内进行 6 次或以上购买且花费超过 200 美元的买家同比增长了 205%。虽然只占买家的9%，但该集团占商品总销售额的40%。一个关键问题是这些消费者是否更喜欢零售购物体验，这可能更有利于刺激购买。</blockquote></p><p> The online e-tailer has made a couple of big purchases of its own. In late June,Etsy announced it would pay $217 million in cash for Brazil-based Elo7, a peer-to-peer e-commerce marketplace. A few weeks earlier&nbsp;Etsy acquired Depop, a U.K. fashion reseller platform, for $1.63 billion.</p><p><blockquote>这家在线电子零售商已经进行了几笔自己的大宗采购。6 月下旬，Etsy 宣布将以 2.17 亿美元现金收购总部位于巴西的点对点电子商务市场 Elo7。几周前，Etsy 以 16.3 亿美元收购了英国时尚经销商平台 Depop。</blockquote></p><p> Wedbush Securities analyst Ygal Arounian expects the acquisitions to dilute margins in the short run, but he believes the deals will expand the company’s international presence and allow it to capitalize on new e-commerce trends.</p><p><blockquote>Wedbush Securities 分析师 Ygal Arounian 预计，这些收购将在短期内稀释利润率，但他相信这些交易将扩大公司的国际影响力，并使其能够利用新的电子商务趋势。</blockquote></p><p> While e-commerce companies have had a strong year so far, investors are closely monitoring how they are navigating the changing economic landscape. Last week, for example,Amazon&nbsp;beat earnings expectations but just fell short of revenue expectations, prompting investors to wipe 7.4% off the company’s market capitalization the next day.</p><p><blockquote>尽管电子商务公司迄今为止表现强劲，但投资者正在密切关注它们如何应对不断变化的经济格局。例如，上周亚马逊的盈利超出了预期，但收入却低于预期，这促使投资者第二天将该公司的市值缩水了 7.4%。</blockquote></p><p> Arounian believes the increase in Covid cases could create favorable conditions for digital commerce to grow, but&nbsp;the reopening could limit upside in the third quarter.</p><p><blockquote>Arounian认为，Covid病例的增加可能会为数字商务的增长创造有利条件，但重新开放可能会限制第三季度的上涨空间。</blockquote></p><p> Even if Etsy tops earnings and revenue expectations, the question remains whether that will be good enough to override concerns that e-commerce platforms will cede ground to retailers as the economy reopens.</p><p><blockquote>即使 Etsy 的盈利和收入超出预期，问题仍然是这是否足以克服人们对随着经济重新开放电子商务平台将让位给零售商的担忧。</blockquote></p><p> Shares of&nbsp;Etsy&nbsp;stock were up 0.8%, to $190.46&nbsp;on Tuesday; the&nbsp;S&amp;P 500&nbsp;was up 0.8%.</p><p><blockquote>周二，Etsy 股价上涨 0.8%，至 190.46 美元；标普500上涨0.8%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Etsy Reports Earnings on Wednesday. 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Here’s What to Expect.<blockquote>Etsy 周三公布财报。以下是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-08-04 09:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The pressure is on for Etsy to deliver Wednesday when it reports second-quarter earnings. And the artisanal crafts online retailer believes it can—confident that its pandemic growth spurt is here to stay.</p><p><blockquote>Etsy 周三公布第二季度收益时面临着交付的压力。这家手工艺品在线零售商相信它可以——相信其在大流行的增长将会持续下去。</blockquote></p><p> For the second quarter, executives are forecasting revenue of $493 million to $536 million, representing a 15% to 25% increase year over year, but below the first-quarter’s $551 million.</p><p><blockquote>对于第二季度，高管们预测收入为 4.93 亿至 5.36 亿美元，同比增长 15% 至 25%，但低于第一季度的 5.51 亿美元。</blockquote></p><p> Analysts have taken the company officials at their work, expectingEtsy(ticker: ETSY) to report on the high end of their guidance. Wall Street expects revenue of $525 million, up from $429 million a year ago, and&nbsp;earnings per share of 63 cents, up from&nbsp;75 cents.</p><p><blockquote>分析师已要求公司官员开展工作，预计 Getsy（股票代码：ETSY）将报告其指引的高端。华尔街预计营收为 5.25 亿美元，高于一年前的 4.29 亿美元，每股收益为 63 美分，高于 75 美分。</blockquote></p><p> The executives also believe the company can retain most of the gross merchandise sales gains amassed during the pandemic. For 2020’s first quarter, which ended shortly after the start of the lockdown, Etsy reported gross merchandise sales of $1.35 billion. This year’s first-quarter brought in $3.14 billion in gross merchandise sales, and the second-quarter projection isn’t far off—$2.8 billion to $3.1 billion.</p><p><blockquote>高管们还相信，该公司可以保留疫情期间积累的大部分商品销售总额收益。在封锁开始后不久结束的 2020 年第一季度，Etsy 的商品销售总额为 13.5 亿美元。今年第一季度的商品销售总额为 31.4 亿美元，第二季度的预测也不远了--28 亿至 31 亿美元。</blockquote></p><p> Maintaining gross merchandise sales gains will come down to retaining high-spending customers. In the first quarter, the company reported a 205% year over year increase in buyers who made six or more purchases and spent over $200 in the past 12 months. Though just 9% of buyers, the group accounts for 40% of gross merchandise sales. A key concern is whether those consumers would prefer the retail shopping experience, which may be more conducive to impulse purchases.</p><p><blockquote>保持商品总销售额增长将归结为留住高消费客户。第一季度，该公司报告称，在过去 12 个月内进行 6 次或以上购买且花费超过 200 美元的买家同比增长了 205%。虽然只占买家的9%，但该集团占商品总销售额的40%。一个关键问题是这些消费者是否更喜欢零售购物体验，这可能更有利于刺激购买。</blockquote></p><p> The online e-tailer has made a couple of big purchases of its own. In late June,Etsy announced it would pay $217 million in cash for Brazil-based Elo7, a peer-to-peer e-commerce marketplace. A few weeks earlier&nbsp;Etsy acquired Depop, a U.K. fashion reseller platform, for $1.63 billion.</p><p><blockquote>这家在线电子零售商已经进行了几笔自己的大宗采购。6 月下旬，Etsy 宣布将以 2.17 亿美元现金收购总部位于巴西的点对点电子商务市场 Elo7。几周前，Etsy 以 16.3 亿美元收购了英国时尚经销商平台 Depop。</blockquote></p><p> Wedbush Securities analyst Ygal Arounian expects the acquisitions to dilute margins in the short run, but he believes the deals will expand the company’s international presence and allow it to capitalize on new e-commerce trends.</p><p><blockquote>Wedbush Securities 分析师 Ygal Arounian 预计，这些收购将在短期内稀释利润率，但他相信这些交易将扩大公司的国际影响力，并使其能够利用新的电子商务趋势。</blockquote></p><p> While e-commerce companies have had a strong year so far, investors are closely monitoring how they are navigating the changing economic landscape. Last week, for example,Amazon&nbsp;beat earnings expectations but just fell short of revenue expectations, prompting investors to wipe 7.4% off the company’s market capitalization the next day.</p><p><blockquote>尽管电子商务公司迄今为止表现强劲，但投资者正在密切关注它们如何应对不断变化的经济格局。例如，上周亚马逊的盈利超出了预期，但收入却低于预期，这促使投资者第二天将该公司的市值缩水了 7.4%。</blockquote></p><p> Arounian believes the increase in Covid cases could create favorable conditions for digital commerce to grow, but&nbsp;the reopening could limit upside in the third quarter.</p><p><blockquote>Arounian认为，Covid病例的增加可能会为数字商务的增长创造有利条件，但重新开放可能会限制第三季度的上涨空间。</blockquote></p><p> Even if Etsy tops earnings and revenue expectations, the question remains whether that will be good enough to override concerns that e-commerce platforms will cede ground to retailers as the economy reopens.</p><p><blockquote>即使 Etsy 的盈利和收入超出预期，问题仍然是这是否足以克服人们对随着经济重新开放电子商务平台将让位给零售商的担忧。</blockquote></p><p> Shares of&nbsp;Etsy&nbsp;stock were up 0.8%, to $190.46&nbsp;on Tuesday; the&nbsp;S&amp;P 500&nbsp;was up 0.8%.</p><p><blockquote>周二，Etsy 股价上涨 0.8%，至 190.46 美元；标普500上涨0.8%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/etsy-earnings-preview-51628011082?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ETSY":"Etsy, Inc."},"source_url":"https://www.barrons.com/articles/etsy-earnings-preview-51628011082?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167210011","content_text":"The pressure is on for Etsy to deliver Wednesday when it reports second-quarter earnings. And the artisanal crafts online retailer believes it can—confident that its pandemic growth spurt is here to stay.\nFor the second quarter, executives are forecasting revenue of $493 million to $536 million, representing a 15% to 25% increase year over year, but below the first-quarter’s $551 million.\nAnalysts have taken the company officials at their work, expectingEtsy(ticker: ETSY) to report on the high end of their guidance. Wall Street expects revenue of $525 million, up from $429 million a year ago, and earnings per share of 63 cents, up from 75 cents.\nThe executives also believe the company can retain most of the gross merchandise sales gains amassed during the pandemic. For 2020’s first quarter, which ended shortly after the start of the lockdown, Etsy reported gross merchandise sales of $1.35 billion. This year’s first-quarter brought in $3.14 billion in gross merchandise sales, and the second-quarter projection isn’t far off—$2.8 billion to $3.1 billion.\nMaintaining gross merchandise sales gains will come down to retaining high-spending customers. In the first quarter, the company reported a 205% year over year increase in buyers who made six or more purchases and spent over $200 in the past 12 months. Though just 9% of buyers, the group accounts for 40% of gross merchandise sales. A key concern is whether those consumers would prefer the retail shopping experience, which may be more conducive to impulse purchases.\nThe online e-tailer has made a couple of big purchases of its own. In late June,Etsy announced it would pay $217 million in cash for Brazil-based Elo7, a peer-to-peer e-commerce marketplace. A few weeks earlier Etsy acquired Depop, a U.K. fashion reseller platform, for $1.63 billion.\nWedbush Securities analyst Ygal Arounian expects the acquisitions to dilute margins in the short run, but he believes the deals will expand the company’s international presence and allow it to capitalize on new e-commerce trends.\nWhile e-commerce companies have had a strong year so far, investors are closely monitoring how they are navigating the changing economic landscape. Last week, for example,Amazon beat earnings expectations but just fell short of revenue expectations, prompting investors to wipe 7.4% off the company’s market capitalization the next day.\nArounian believes the increase in Covid cases could create favorable conditions for digital commerce to grow, but the reopening could limit upside in the third quarter.\nEven if Etsy tops earnings and revenue expectations, the question remains whether that will be good enough to override concerns that e-commerce platforms will cede ground to retailers as the economy reopens.\nShares of Etsy stock were up 0.8%, to $190.46 on Tuesday; the S&P 500 was up 0.8%.","news_type":1,"symbols_score_info":{"ETSY":0.9}},"isVote":1,"tweetType":1,"viewCount":2444,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804507465,"gmtCreate":1627962318157,"gmtModify":1633754828804,"author":{"id":"3575264925585156","authorId":"3575264925585156","name":"Taespark39","avatar":"https://static.tigerbbs.com/31b88e8b14a85aceaa273c920218fa30","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264925585156","authorIdStr":"3575264925585156"},"themes":[],"title":"","htmlText":"Please like tq!","listText":"Please like tq!","text":"Please like tq!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/804507465","repostId":"1159936560","repostType":4,"repost":{"id":"1159936560","kind":"news","pubTimestamp":1627953917,"share":"https://www.laohunote.com/m/news/1159936560?lang=zh_CN&edition=full","pubTime":"2021-08-03 09:25","market":"us","language":"en","title":"Jeff Bezos is no longer the richest person on the planet after his net worth drops $13.9 billion in one day<blockquote>杰夫·贝索斯的净资产在一天内下降了139亿美元，他不再是这个星球上最富有的人</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159936560","media":"MarketWatch","summary":"Jeff Bezos momentarily forfeited his title of “richest person on the planet” on July 20 when his Blu","content":"<p>Jeff Bezos momentarily forfeited his title of “richest person on the planet” on July 20 when his Blue Origin spacecraft reached&nbsp;suborbital flight&nbsp;for a few minutes.</p><p><blockquote>7 月 20 日，杰夫·贝索斯乘坐的蓝色起源飞船在亚轨道飞行了几分钟，暂时失去了 “地球上最富有的人 ”的称号。</blockquote></p><p> Now, the multibillionaire is once again without the title, but this time because his net worth actually tumbled — by&nbsp;$13.9 billion&nbsp;in one day.</p><p><blockquote>现在，这位亿万富翁再次失去了头衔，但这一次是因为他的净资产实际上暴跌了——一天之内暴跌了 139 亿美元。</blockquote></p><p> Bezos’ net worth fell because Amazon’s&nbsp;stock price took a hit last week,sliding 7%&nbsp;after the company reported less-than-anticipated second-quarter growth.</p><p><blockquote>贝佐斯的净资产下降是因为亚马逊股价上周受到打击，该公司公布的第二季度增长低于预期，股价下滑了 7%。</blockquote></p><p> The drop in Bezos’ net worth allowed for French tycoon Bernard Arnault to claim the No. 1 spot of the ultra-wealthy. Arnault heads the luxury goods conglomerate LVMH,whose subsidiaries include Louis Vuitton, Sephora, Moët &amp; Chandon and Tiffany &amp; Co.</p><p><blockquote>贝索斯净资产的下降让法国大亨伯纳德-阿尔诺（Bernard Arnault）登上了超级富豪的头把交椅。阿尔诺是奢侈品集团 LVMH 的负责人，该集团的子公司包括路易威登、丝芙兰、酩悦香槟和蒂芙尼公司。</blockquote></p><p> It might seem that a global pandemic and economic recession would set the luxury goods market back a bit, but Arnault remarkably grew his wealth by&nbsp;nearly $100 billion&nbsp;during the first year of the pandemic.</p><p><blockquote>全球疫情和经济衰退似乎会让奢侈品市场稍微倒退，但阿尔诺在疫情的第一年就显著增加了近1000亿美元的财富。</blockquote></p><p> Arnault’s net worth sat at&nbsp;$195.8 billion&nbsp;as of Monday, while Bezos’ hovered at&nbsp;$192.6 billion.</p><p><blockquote>截至周一，阿尔诺的净资产为 1,958 亿美元，而贝佐斯的净资产则徘徊在 1,926 亿美元。</blockquote></p><p> Bezos made history in 2020 as the first person ever to be worth&nbsp;$200 billion, as Amazon enjoyed big gains from pandemic lockdowns.</p><p><blockquote>贝佐斯在 2020 年创造了历史，成为第一个身价达到 2000 亿美元的人，亚马逊从疫情封锁中获得了巨额利润。</blockquote></p><p> The two billionaires had jockeyed for the top spot throughout May and June of this year, but the recent toss up put an end to Bezos’ 50-day streak at the top of the heap, according to&nbsp;Forbes.</p><p><blockquote>据《福布斯》报道，这两位亿万富翁在今年 5 月和 6 月一直在争夺榜首位置，但最近的一场争夺终结了贝索斯 50 天的榜首纪录。</blockquote></p><p> In total, there are 2,755 billionaires worldwide, 86% of which are&nbsp;richer than they were a year ago&nbsp;for a combined $5 trillion increase in wealth in 2020.</p><p><blockquote>全球共有 2,755 位亿万富翁，其中 86% 的亿万富翁比一年前更富有，到 2020 年财富总额将增加 5 万亿美元。</blockquote></p><p> Meanwhile, the median net worth for American families is&nbsp;$121,700.</p><p><blockquote>与此同时，美国家庭的净资产中位数为 121,700 美元。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jeff Bezos is no longer the richest person on the planet after his net worth drops $13.9 billion in one day<blockquote>杰夫·贝索斯的净资产在一天内下降了139亿美元，他不再是这个星球上最富有的人</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\">\nJeff Bezos is no longer the richest person on the planet after his net worth drops $13.9 billion in one day<blockquote>杰夫·贝索斯的净资产在一天内下降了139亿美元，他不再是这个星球上最富有的人</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-03 09:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Jeff Bezos momentarily forfeited his title of “richest person on the planet” on July 20 when his Blue Origin spacecraft reached&nbsp;suborbital flight&nbsp;for a few minutes.</p><p><blockquote>7 月 20 日，杰夫·贝索斯乘坐的蓝色起源飞船在亚轨道飞行了几分钟，暂时失去了 “地球上最富有的人 ”的称号。</blockquote></p><p> Now, the multibillionaire is once again without the title, but this time because his net worth actually tumbled — by&nbsp;$13.9 billion&nbsp;in one day.</p><p><blockquote>现在，这位亿万富翁再次失去了头衔，但这一次是因为他的净资产实际上暴跌了——一天之内暴跌了 139 亿美元。</blockquote></p><p> Bezos’ net worth fell because Amazon’s&nbsp;stock price took a hit last week,sliding 7%&nbsp;after the company reported less-than-anticipated second-quarter growth.</p><p><blockquote>贝佐斯的净资产下降是因为亚马逊股价上周受到打击，该公司公布的第二季度增长低于预期，股价下滑了 7%。</blockquote></p><p> The drop in Bezos’ net worth allowed for French tycoon Bernard Arnault to claim the No. 1 spot of the ultra-wealthy. Arnault heads the luxury goods conglomerate LVMH,whose subsidiaries include Louis Vuitton, Sephora, Moët &amp; Chandon and Tiffany &amp; Co.</p><p><blockquote>贝索斯净资产的下降让法国大亨伯纳德-阿尔诺（Bernard Arnault）登上了超级富豪的头把交椅。阿尔诺是奢侈品集团 LVMH 的负责人，该集团的子公司包括路易威登、丝芙兰、酩悦香槟和蒂芙尼公司。</blockquote></p><p> It might seem that a global pandemic and economic recession would set the luxury goods market back a bit, but Arnault remarkably grew his wealth by&nbsp;nearly $100 billion&nbsp;during the first year of the pandemic.</p><p><blockquote>全球疫情和经济衰退似乎会让奢侈品市场稍微倒退，但阿尔诺在疫情的第一年就显著增加了近1000亿美元的财富。</blockquote></p><p> Arnault’s net worth sat at&nbsp;$195.8 billion&nbsp;as of Monday, while Bezos’ hovered at&nbsp;$192.6 billion.</p><p><blockquote>截至周一，阿尔诺的净资产为 1,958 亿美元，而贝佐斯的净资产则徘徊在 1,926 亿美元。</blockquote></p><p> Bezos made history in 2020 as the first person ever to be worth&nbsp;$200 billion, as Amazon enjoyed big gains from pandemic lockdowns.</p><p><blockquote>贝佐斯在 2020 年创造了历史，成为第一个身价达到 2000 亿美元的人，亚马逊从疫情封锁中获得了巨额利润。</blockquote></p><p> The two billionaires had jockeyed for the top spot throughout May and June of this year, but the recent toss up put an end to Bezos’ 50-day streak at the top of the heap, according to&nbsp;Forbes.</p><p><blockquote>据《福布斯》报道，这两位亿万富翁在今年 5 月和 6 月一直在争夺榜首位置，但最近的一场争夺终结了贝索斯 50 天的榜首纪录。</blockquote></p><p> In total, there are 2,755 billionaires worldwide, 86% of which are&nbsp;richer than they were a year ago&nbsp;for a combined $5 trillion increase in wealth in 2020.</p><p><blockquote>全球共有 2,755 位亿万富翁，其中 86% 的亿万富翁比一年前更富有，到 2020 年财富总额将增加 5 万亿美元。</blockquote></p><p> Meanwhile, the median net worth for American families is&nbsp;$121,700.</p><p><blockquote>与此同时，美国家庭的净资产中位数为 121,700 美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/jeff-bezos-is-no-longer-the-richest-person-on-the-planet-after-he-loses-13-9-billion-in-one-day-11627926841?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.marketwatch.com/story/jeff-bezos-is-no-longer-the-richest-person-on-the-planet-after-he-loses-13-9-billion-in-one-day-11627926841?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159936560","content_text":"Jeff Bezos momentarily forfeited his title of “richest person on the planet” on July 20 when his Blue Origin spacecraft reached suborbital flight for a few minutes.\nNow, the multibillionaire is once again without the title, but this time because his net worth actually tumbled — by $13.9 billion in one day.\nBezos’ net worth fell because Amazon’s stock price took a hit last week,sliding 7% after the company reported less-than-anticipated second-quarter growth.\nThe drop in Bezos’ net worth allowed for French tycoon Bernard Arnault to claim the No. 1 spot of the ultra-wealthy. Arnault heads the luxury goods conglomerate LVMH,whose subsidiaries include Louis Vuitton, Sephora, Moët & Chandon and Tiffany & Co.\nIt might seem that a global pandemic and economic recession would set the luxury goods market back a bit, but Arnault remarkably grew his wealth by nearly $100 billion during the first year of the pandemic.\nArnault’s net worth sat at $195.8 billion as of Monday, while Bezos’ hovered at $192.6 billion.\nBezos made history in 2020 as the first person ever to be worth $200 billion, as Amazon enjoyed big gains from pandemic lockdowns.\nThe two billionaires had jockeyed for the top spot throughout May and June of this year, but the recent toss up put an end to Bezos’ 50-day streak at the top of the heap, according to Forbes.\nIn total, there are 2,755 billionaires worldwide, 86% of which are richer than they were a year ago for a combined $5 trillion increase in wealth in 2020.\nMeanwhile, the median net worth for American families is $121,700.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":3803,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805032030,"gmtCreate":1627820973220,"gmtModify":1633756139135,"author":{"id":"3575264925585156","authorId":"3575264925585156","name":"Taespark39","avatar":"https://static.tigerbbs.com/31b88e8b14a85aceaa273c920218fa30","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575264925585156","authorIdStr":"3575264925585156"},"themes":[],"title":"","htmlText":"👍🏻👍🏻👍🏻","listText":"👍🏻👍🏻👍🏻","text":"👍🏻👍🏻👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/805032030","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohunote.com/m/news/1147779023?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":805032030,"gmtCreate":1627820973220,"gmtModify":1633756139135,"author":{"id":"3575264925585156","authorId":"3575264925585156","name":"Taespark39","avatar":"https://static.tigerbbs.com/31b88e8b14a85aceaa273c920218fa30","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575264925585156","idStr":"3575264925585156"},"themes":[],"title":"","htmlText":"👍🏻👍🏻👍🏻","listText":"👍🏻👍🏻👍🏻","text":"👍🏻👍🏻👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/805032030","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohunote.com/m/news/1147779023?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你发现一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 8.6 个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由 Prabha Ram 共同管理，我最近采访了他。拉姆在印度长大，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆和其他三位投资组合经理自 2016 年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 Intuit 收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，Bill.com 就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约250万成员。Bill.com 还从其合作伙伴那里获得了潜在客户，包括美国银行 BAC、摩根大通 JPM 和美国运通 XP。第一季度销售额增长了 45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们通常跑赢大盘。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2. 寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在 20 世纪 80 年代，波士顿啤酒创始人吉姆-科赫（Jim Koch）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味酿造更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在 2015 年至 2017 年期间由于啤酒销售总体持平而停滞不前。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去展示过创新技巧的人领导的公司。创新的管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们打赌他们会再次渡过难关。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，销售额增长了 33%，但净利润下降了 1.6%。由于预计销售增长放缓，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3. 寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不太在意当地的瑜伽教练是否可以接受信用卡付款。Squaresq认为这是一个机会。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而发展壮大。第一季度基于交易的收入增长了 27%，订阅和服务收入飙升了 88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4、买入处于快速增长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“拉姆说：”这是一个全新的治疗领域。“这是一个可以治疗多种疾病的产品平台”。</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，你需要给公司发展的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807474396,"gmtCreate":1628054242415,"gmtModify":1631884337673,"author":{"id":"3575264925585156","authorId":"3575264925585156","name":"Taespark39","avatar":"https://static.tigerbbs.com/31b88e8b14a85aceaa273c920218fa30","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575264925585156","idStr":"3575264925585156"},"themes":[],"title":"","htmlText":"Is Etsy still a buy now?&nbsp;","listText":"Is Etsy still a buy now?&nbsp;","text":"Is Etsy still a buy now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/807474396","repostId":"1167210011","repostType":4,"repost":{"id":"1167210011","kind":"news","pubTimestamp":1628041322,"share":"https://www.laohunote.com/m/news/1167210011?lang=zh_CN&edition=full","pubTime":"2021-08-04 09:42","market":"us","language":"en","title":"Etsy Reports Earnings on Wednesday. Here’s What to Expect.<blockquote>Etsy 周三公布财报。以下是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1167210011","media":"Barrons","summary":"The pressure is on for Etsy to deliver Wednesday when it reports second-quarter earnings. And the artisanal crafts online retailer believes it can—confident that its pandemic growth spurt is here to stay.For the second quarter, executives are forecasting revenue of $493 million to $536 million, representing a 15% to 25% increase year over year, but below the first-quarter’s $551 million.The executives also believe the company can retain most of the gross merchandise sales gains amassed during th","content":"<p>The pressure is on for Etsy to deliver Wednesday when it reports second-quarter earnings. And the artisanal crafts online retailer believes it can—confident that its pandemic growth spurt is here to stay.</p><p><blockquote>Etsy 周三公布第二季度收益时面临着交付的压力。这家手工艺品在线零售商相信它可以——相信其在大流行的增长将会持续下去。</blockquote></p><p> For the second quarter, executives are forecasting revenue of $493 million to $536 million, representing a 15% to 25% increase year over year, but below the first-quarter’s $551 million.</p><p><blockquote>对于第二季度，高管们预测收入为 4.93 亿至 5.36 亿美元，同比增长 15% 至 25%，但低于第一季度的 5.51 亿美元。</blockquote></p><p> Analysts have taken the company officials at their work, expectingEtsy(ticker: ETSY) to report on the high end of their guidance. Wall Street expects revenue of $525 million, up from $429 million a year ago, and&nbsp;earnings per share of 63 cents, up from&nbsp;75 cents.</p><p><blockquote>分析师已要求公司官员开展工作，预计 Getsy（股票代码：ETSY）将报告其指引的高端。华尔街预计营收为 5.25 亿美元，高于一年前的 4.29 亿美元，每股收益为 63 美分，高于 75 美分。</blockquote></p><p> The executives also believe the company can retain most of the gross merchandise sales gains amassed during the pandemic. For 2020’s first quarter, which ended shortly after the start of the lockdown, Etsy reported gross merchandise sales of $1.35 billion. This year’s first-quarter brought in $3.14 billion in gross merchandise sales, and the second-quarter projection isn’t far off—$2.8 billion to $3.1 billion.</p><p><blockquote>高管们还相信，该公司可以保留疫情期间积累的大部分商品销售总额收益。在封锁开始后不久结束的 2020 年第一季度，Etsy 的商品销售总额为 13.5 亿美元。今年第一季度的商品销售总额为 31.4 亿美元，第二季度的预测也不远了--28 亿至 31 亿美元。</blockquote></p><p> Maintaining gross merchandise sales gains will come down to retaining high-spending customers. In the first quarter, the company reported a 205% year over year increase in buyers who made six or more purchases and spent over $200 in the past 12 months. Though just 9% of buyers, the group accounts for 40% of gross merchandise sales. A key concern is whether those consumers would prefer the retail shopping experience, which may be more conducive to impulse purchases.</p><p><blockquote>保持商品总销售额增长将归结为留住高消费客户。第一季度，该公司报告称，在过去 12 个月内进行 6 次或以上购买且花费超过 200 美元的买家同比增长了 205%。虽然只占买家的9%，但该集团占商品总销售额的40%。一个关键问题是这些消费者是否更喜欢零售购物体验，这可能更有利于刺激购买。</blockquote></p><p> The online e-tailer has made a couple of big purchases of its own. In late June,Etsy announced it would pay $217 million in cash for Brazil-based Elo7, a peer-to-peer e-commerce marketplace. A few weeks earlier&nbsp;Etsy acquired Depop, a U.K. fashion reseller platform, for $1.63 billion.</p><p><blockquote>这家在线电子零售商已经进行了几笔自己的大宗采购。6 月下旬，Etsy 宣布将以 2.17 亿美元现金收购总部位于巴西的点对点电子商务市场 Elo7。几周前，Etsy 以 16.3 亿美元收购了英国时尚经销商平台 Depop。</blockquote></p><p> Wedbush Securities analyst Ygal Arounian expects the acquisitions to dilute margins in the short run, but he believes the deals will expand the company’s international presence and allow it to capitalize on new e-commerce trends.</p><p><blockquote>Wedbush Securities 分析师 Ygal Arounian 预计，这些收购将在短期内稀释利润率，但他相信这些交易将扩大公司的国际影响力，并使其能够利用新的电子商务趋势。</blockquote></p><p> While e-commerce companies have had a strong year so far, investors are closely monitoring how they are navigating the changing economic landscape. Last week, for example,Amazon&nbsp;beat earnings expectations but just fell short of revenue expectations, prompting investors to wipe 7.4% off the company’s market capitalization the next day.</p><p><blockquote>尽管电子商务公司迄今为止表现强劲，但投资者正在密切关注它们如何应对不断变化的经济格局。例如，上周亚马逊的盈利超出了预期，但收入却低于预期，这促使投资者第二天将该公司的市值缩水了 7.4%。</blockquote></p><p> Arounian believes the increase in Covid cases could create favorable conditions for digital commerce to grow, but&nbsp;the reopening could limit upside in the third quarter.</p><p><blockquote>Arounian认为，Covid病例的增加可能会为数字商务的增长创造有利条件，但重新开放可能会限制第三季度的上涨空间。</blockquote></p><p> Even if Etsy tops earnings and revenue expectations, the question remains whether that will be good enough to override concerns that e-commerce platforms will cede ground to retailers as the economy reopens.</p><p><blockquote>即使 Etsy 的盈利和收入超出预期，问题仍然是这是否足以克服人们对随着经济重新开放电子商务平台将让位给零售商的担忧。</blockquote></p><p> Shares of&nbsp;Etsy&nbsp;stock were up 0.8%, to $190.46&nbsp;on Tuesday; the&nbsp;S&amp;P 500&nbsp;was up 0.8%.</p><p><blockquote>周二，Etsy 股价上涨 0.8%，至 190.46 美元；标普500上涨0.8%。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Etsy Reports Earnings on Wednesday. Here’s What to Expect.<blockquote>Etsy 周三公布财报。以下是可以期待的。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEtsy Reports Earnings on Wednesday. Here’s What to Expect.<blockquote>Etsy 周三公布财报。以下是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-08-04 09:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The pressure is on for Etsy to deliver Wednesday when it reports second-quarter earnings. And the artisanal crafts online retailer believes it can—confident that its pandemic growth spurt is here to stay.</p><p><blockquote>Etsy 周三公布第二季度收益时面临着交付的压力。这家手工艺品在线零售商相信它可以——相信其在大流行的增长将会持续下去。</blockquote></p><p> For the second quarter, executives are forecasting revenue of $493 million to $536 million, representing a 15% to 25% increase year over year, but below the first-quarter’s $551 million.</p><p><blockquote>对于第二季度，高管们预测收入为 4.93 亿至 5.36 亿美元，同比增长 15% 至 25%，但低于第一季度的 5.51 亿美元。</blockquote></p><p> Analysts have taken the company officials at their work, expectingEtsy(ticker: ETSY) to report on the high end of their guidance. Wall Street expects revenue of $525 million, up from $429 million a year ago, and&nbsp;earnings per share of 63 cents, up from&nbsp;75 cents.</p><p><blockquote>分析师已要求公司官员开展工作，预计 Getsy（股票代码：ETSY）将报告其指引的高端。华尔街预计营收为 5.25 亿美元，高于一年前的 4.29 亿美元，每股收益为 63 美分，高于 75 美分。</blockquote></p><p> The executives also believe the company can retain most of the gross merchandise sales gains amassed during the pandemic. For 2020’s first quarter, which ended shortly after the start of the lockdown, Etsy reported gross merchandise sales of $1.35 billion. This year’s first-quarter brought in $3.14 billion in gross merchandise sales, and the second-quarter projection isn’t far off—$2.8 billion to $3.1 billion.</p><p><blockquote>高管们还相信，该公司可以保留疫情期间积累的大部分商品销售总额收益。在封锁开始后不久结束的 2020 年第一季度，Etsy 的商品销售总额为 13.5 亿美元。今年第一季度的商品销售总额为 31.4 亿美元，第二季度的预测也不远了--28 亿至 31 亿美元。</blockquote></p><p> Maintaining gross merchandise sales gains will come down to retaining high-spending customers. In the first quarter, the company reported a 205% year over year increase in buyers who made six or more purchases and spent over $200 in the past 12 months. Though just 9% of buyers, the group accounts for 40% of gross merchandise sales. A key concern is whether those consumers would prefer the retail shopping experience, which may be more conducive to impulse purchases.</p><p><blockquote>保持商品总销售额增长将归结为留住高消费客户。第一季度，该公司报告称，在过去 12 个月内进行 6 次或以上购买且花费超过 200 美元的买家同比增长了 205%。虽然只占买家的9%，但该集团占商品总销售额的40%。一个关键问题是这些消费者是否更喜欢零售购物体验，这可能更有利于刺激购买。</blockquote></p><p> The online e-tailer has made a couple of big purchases of its own. In late June,Etsy announced it would pay $217 million in cash for Brazil-based Elo7, a peer-to-peer e-commerce marketplace. A few weeks earlier&nbsp;Etsy acquired Depop, a U.K. fashion reseller platform, for $1.63 billion.</p><p><blockquote>这家在线电子零售商已经进行了几笔自己的大宗采购。6 月下旬，Etsy 宣布将以 2.17 亿美元现金收购总部位于巴西的点对点电子商务市场 Elo7。几周前，Etsy 以 16.3 亿美元收购了英国时尚经销商平台 Depop。</blockquote></p><p> Wedbush Securities analyst Ygal Arounian expects the acquisitions to dilute margins in the short run, but he believes the deals will expand the company’s international presence and allow it to capitalize on new e-commerce trends.</p><p><blockquote>Wedbush Securities 分析师 Ygal Arounian 预计，这些收购将在短期内稀释利润率，但他相信这些交易将扩大公司的国际影响力，并使其能够利用新的电子商务趋势。</blockquote></p><p> While e-commerce companies have had a strong year so far, investors are closely monitoring how they are navigating the changing economic landscape. Last week, for example,Amazon&nbsp;beat earnings expectations but just fell short of revenue expectations, prompting investors to wipe 7.4% off the company’s market capitalization the next day.</p><p><blockquote>尽管电子商务公司迄今为止表现强劲，但投资者正在密切关注它们如何应对不断变化的经济格局。例如，上周亚马逊的盈利超出了预期，但收入却低于预期，这促使投资者第二天将该公司的市值缩水了 7.4%。</blockquote></p><p> Arounian believes the increase in Covid cases could create favorable conditions for digital commerce to grow, but&nbsp;the reopening could limit upside in the third quarter.</p><p><blockquote>Arounian认为，Covid病例的增加可能会为数字商务的增长创造有利条件，但重新开放可能会限制第三季度的上涨空间。</blockquote></p><p> Even if Etsy tops earnings and revenue expectations, the question remains whether that will be good enough to override concerns that e-commerce platforms will cede ground to retailers as the economy reopens.</p><p><blockquote>即使 Etsy 的盈利和收入超出预期，问题仍然是这是否足以克服人们对随着经济重新开放电子商务平台将让位给零售商的担忧。</blockquote></p><p> Shares of&nbsp;Etsy&nbsp;stock were up 0.8%, to $190.46&nbsp;on Tuesday; the&nbsp;S&amp;P 500&nbsp;was up 0.8%.</p><p><blockquote>周二，Etsy 股价上涨 0.8%，至 190.46 美元；标普500上涨0.8%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/etsy-earnings-preview-51628011082?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ETSY":"Etsy, Inc."},"source_url":"https://www.barrons.com/articles/etsy-earnings-preview-51628011082?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167210011","content_text":"The pressure is on for Etsy to deliver Wednesday when it reports second-quarter earnings. And the artisanal crafts online retailer believes it can—confident that its pandemic growth spurt is here to stay.\nFor the second quarter, executives are forecasting revenue of $493 million to $536 million, representing a 15% to 25% increase year over year, but below the first-quarter’s $551 million.\nAnalysts have taken the company officials at their work, expectingEtsy(ticker: ETSY) to report on the high end of their guidance. Wall Street expects revenue of $525 million, up from $429 million a year ago, and earnings per share of 63 cents, up from 75 cents.\nThe executives also believe the company can retain most of the gross merchandise sales gains amassed during the pandemic. For 2020’s first quarter, which ended shortly after the start of the lockdown, Etsy reported gross merchandise sales of $1.35 billion. This year’s first-quarter brought in $3.14 billion in gross merchandise sales, and the second-quarter projection isn’t far off—$2.8 billion to $3.1 billion.\nMaintaining gross merchandise sales gains will come down to retaining high-spending customers. In the first quarter, the company reported a 205% year over year increase in buyers who made six or more purchases and spent over $200 in the past 12 months. Though just 9% of buyers, the group accounts for 40% of gross merchandise sales. A key concern is whether those consumers would prefer the retail shopping experience, which may be more conducive to impulse purchases.\nThe online e-tailer has made a couple of big purchases of its own. In late June,Etsy announced it would pay $217 million in cash for Brazil-based Elo7, a peer-to-peer e-commerce marketplace. A few weeks earlier Etsy acquired Depop, a U.K. fashion reseller platform, for $1.63 billion.\nWedbush Securities analyst Ygal Arounian expects the acquisitions to dilute margins in the short run, but he believes the deals will expand the company’s international presence and allow it to capitalize on new e-commerce trends.\nWhile e-commerce companies have had a strong year so far, investors are closely monitoring how they are navigating the changing economic landscape. Last week, for example,Amazon beat earnings expectations but just fell short of revenue expectations, prompting investors to wipe 7.4% off the company’s market capitalization the next day.\nArounian believes the increase in Covid cases could create favorable conditions for digital commerce to grow, but the reopening could limit upside in the third quarter.\nEven if Etsy tops earnings and revenue expectations, the question remains whether that will be good enough to override concerns that e-commerce platforms will cede ground to retailers as the economy reopens.\nShares of Etsy stock were up 0.8%, to $190.46 on Tuesday; the S&P 500 was up 0.8%.","news_type":1,"symbols_score_info":{"ETSY":0.9}},"isVote":1,"tweetType":1,"viewCount":2444,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804507465,"gmtCreate":1627962318157,"gmtModify":1633754828804,"author":{"id":"3575264925585156","authorId":"3575264925585156","name":"Taespark39","avatar":"https://static.tigerbbs.com/31b88e8b14a85aceaa273c920218fa30","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575264925585156","idStr":"3575264925585156"},"themes":[],"title":"","htmlText":"Please like tq!","listText":"Please like tq!","text":"Please like tq!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/804507465","repostId":"1159936560","repostType":4,"repost":{"id":"1159936560","kind":"news","pubTimestamp":1627953917,"share":"https://www.laohunote.com/m/news/1159936560?lang=zh_CN&edition=full","pubTime":"2021-08-03 09:25","market":"us","language":"en","title":"Jeff Bezos is no longer the richest person on the planet after his net worth drops $13.9 billion in one day<blockquote>杰夫·贝索斯的净资产在一天内下降了139亿美元，他不再是这个星球上最富有的人</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159936560","media":"MarketWatch","summary":"Jeff Bezos momentarily forfeited his title of “richest person on the planet” on July 20 when his Blu","content":"<p>Jeff Bezos momentarily forfeited his title of “richest person on the planet” on July 20 when his Blue Origin spacecraft reached&nbsp;suborbital flight&nbsp;for a few minutes.</p><p><blockquote>7 月 20 日，杰夫·贝索斯乘坐的蓝色起源飞船在亚轨道飞行了几分钟，暂时失去了 “地球上最富有的人 ”的称号。</blockquote></p><p> Now, the multibillionaire is once again without the title, but this time because his net worth actually tumbled — by&nbsp;$13.9 billion&nbsp;in one day.</p><p><blockquote>现在，这位亿万富翁再次失去了头衔，但这一次是因为他的净资产实际上暴跌了——一天之内暴跌了 139 亿美元。</blockquote></p><p> Bezos’ net worth fell because Amazon’s&nbsp;stock price took a hit last week,sliding 7%&nbsp;after the company reported less-than-anticipated second-quarter growth.</p><p><blockquote>贝佐斯的净资产下降是因为亚马逊股价上周受到打击，该公司公布的第二季度增长低于预期，股价下滑了 7%。</blockquote></p><p> The drop in Bezos’ net worth allowed for French tycoon Bernard Arnault to claim the No. 1 spot of the ultra-wealthy. Arnault heads the luxury goods conglomerate LVMH,whose subsidiaries include Louis Vuitton, Sephora, Moët &amp; Chandon and Tiffany &amp; Co.</p><p><blockquote>贝索斯净资产的下降让法国大亨伯纳德-阿尔诺（Bernard Arnault）登上了超级富豪的头把交椅。阿尔诺是奢侈品集团 LVMH 的负责人，该集团的子公司包括路易威登、丝芙兰、酩悦香槟和蒂芙尼公司。</blockquote></p><p> It might seem that a global pandemic and economic recession would set the luxury goods market back a bit, but Arnault remarkably grew his wealth by&nbsp;nearly $100 billion&nbsp;during the first year of the pandemic.</p><p><blockquote>全球疫情和经济衰退似乎会让奢侈品市场稍微倒退，但阿尔诺在疫情的第一年就显著增加了近1000亿美元的财富。</blockquote></p><p> Arnault’s net worth sat at&nbsp;$195.8 billion&nbsp;as of Monday, while Bezos’ hovered at&nbsp;$192.6 billion.</p><p><blockquote>截至周一，阿尔诺的净资产为 1,958 亿美元，而贝佐斯的净资产则徘徊在 1,926 亿美元。</blockquote></p><p> Bezos made history in 2020 as the first person ever to be worth&nbsp;$200 billion, as Amazon enjoyed big gains from pandemic lockdowns.</p><p><blockquote>贝佐斯在 2020 年创造了历史，成为第一个身价达到 2000 亿美元的人，亚马逊从疫情封锁中获得了巨额利润。</blockquote></p><p> The two billionaires had jockeyed for the top spot throughout May and June of this year, but the recent toss up put an end to Bezos’ 50-day streak at the top of the heap, according to&nbsp;Forbes.</p><p><blockquote>据《福布斯》报道，这两位亿万富翁在今年 5 月和 6 月一直在争夺榜首位置，但最近的一场争夺终结了贝索斯 50 天的榜首纪录。</blockquote></p><p> In total, there are 2,755 billionaires worldwide, 86% of which are&nbsp;richer than they were a year ago&nbsp;for a combined $5 trillion increase in wealth in 2020.</p><p><blockquote>全球共有 2,755 位亿万富翁，其中 86% 的亿万富翁比一年前更富有，到 2020 年财富总额将增加 5 万亿美元。</blockquote></p><p> Meanwhile, the median net worth for American families is&nbsp;$121,700.</p><p><blockquote>与此同时，美国家庭的净资产中位数为 121,700 美元。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jeff Bezos is no longer the richest person on the planet after his net worth drops $13.9 billion in one day<blockquote>杰夫·贝索斯的净资产在一天内下降了139亿美元，他不再是这个星球上最富有的人</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\">\nJeff Bezos is no longer the richest person on the planet after his net worth drops $13.9 billion in one day<blockquote>杰夫·贝索斯的净资产在一天内下降了139亿美元，他不再是这个星球上最富有的人</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-03 09:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Jeff Bezos momentarily forfeited his title of “richest person on the planet” on July 20 when his Blue Origin spacecraft reached&nbsp;suborbital flight&nbsp;for a few minutes.</p><p><blockquote>7 月 20 日，杰夫·贝索斯乘坐的蓝色起源飞船在亚轨道飞行了几分钟，暂时失去了 “地球上最富有的人 ”的称号。</blockquote></p><p> Now, the multibillionaire is once again without the title, but this time because his net worth actually tumbled — by&nbsp;$13.9 billion&nbsp;in one day.</p><p><blockquote>现在，这位亿万富翁再次失去了头衔，但这一次是因为他的净资产实际上暴跌了——一天之内暴跌了 139 亿美元。</blockquote></p><p> Bezos’ net worth fell because Amazon’s&nbsp;stock price took a hit last week,sliding 7%&nbsp;after the company reported less-than-anticipated second-quarter growth.</p><p><blockquote>贝佐斯的净资产下降是因为亚马逊股价上周受到打击，该公司公布的第二季度增长低于预期，股价下滑了 7%。</blockquote></p><p> The drop in Bezos’ net worth allowed for French tycoon Bernard Arnault to claim the No. 1 spot of the ultra-wealthy. Arnault heads the luxury goods conglomerate LVMH,whose subsidiaries include Louis Vuitton, Sephora, Moët &amp; Chandon and Tiffany &amp; Co.</p><p><blockquote>贝索斯净资产的下降让法国大亨伯纳德-阿尔诺（Bernard Arnault）登上了超级富豪的头把交椅。阿尔诺是奢侈品集团 LVMH 的负责人，该集团的子公司包括路易威登、丝芙兰、酩悦香槟和蒂芙尼公司。</blockquote></p><p> It might seem that a global pandemic and economic recession would set the luxury goods market back a bit, but Arnault remarkably grew his wealth by&nbsp;nearly $100 billion&nbsp;during the first year of the pandemic.</p><p><blockquote>全球疫情和经济衰退似乎会让奢侈品市场稍微倒退，但阿尔诺在疫情的第一年就显著增加了近1000亿美元的财富。</blockquote></p><p> Arnault’s net worth sat at&nbsp;$195.8 billion&nbsp;as of Monday, while Bezos’ hovered at&nbsp;$192.6 billion.</p><p><blockquote>截至周一，阿尔诺的净资产为 1,958 亿美元，而贝佐斯的净资产则徘徊在 1,926 亿美元。</blockquote></p><p> Bezos made history in 2020 as the first person ever to be worth&nbsp;$200 billion, as Amazon enjoyed big gains from pandemic lockdowns.</p><p><blockquote>贝佐斯在 2020 年创造了历史，成为第一个身价达到 2000 亿美元的人，亚马逊从疫情封锁中获得了巨额利润。</blockquote></p><p> The two billionaires had jockeyed for the top spot throughout May and June of this year, but the recent toss up put an end to Bezos’ 50-day streak at the top of the heap, according to&nbsp;Forbes.</p><p><blockquote>据《福布斯》报道，这两位亿万富翁在今年 5 月和 6 月一直在争夺榜首位置，但最近的一场争夺终结了贝索斯 50 天的榜首纪录。</blockquote></p><p> In total, there are 2,755 billionaires worldwide, 86% of which are&nbsp;richer than they were a year ago&nbsp;for a combined $5 trillion increase in wealth in 2020.</p><p><blockquote>全球共有 2,755 位亿万富翁，其中 86% 的亿万富翁比一年前更富有，到 2020 年财富总额将增加 5 万亿美元。</blockquote></p><p> Meanwhile, the median net worth for American families is&nbsp;$121,700.</p><p><blockquote>与此同时，美国家庭的净资产中位数为 121,700 美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/jeff-bezos-is-no-longer-the-richest-person-on-the-planet-after-he-loses-13-9-billion-in-one-day-11627926841?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.marketwatch.com/story/jeff-bezos-is-no-longer-the-richest-person-on-the-planet-after-he-loses-13-9-billion-in-one-day-11627926841?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159936560","content_text":"Jeff Bezos momentarily forfeited his title of “richest person on the planet” on July 20 when his Blue Origin spacecraft reached suborbital flight for a few minutes.\nNow, the multibillionaire is once again without the title, but this time because his net worth actually tumbled — by $13.9 billion in one day.\nBezos’ net worth fell because Amazon’s stock price took a hit last week,sliding 7% after the company reported less-than-anticipated second-quarter growth.\nThe drop in Bezos’ net worth allowed for French tycoon Bernard Arnault to claim the No. 1 spot of the ultra-wealthy. Arnault heads the luxury goods conglomerate LVMH,whose subsidiaries include Louis Vuitton, Sephora, Moët & Chandon and Tiffany & Co.\nIt might seem that a global pandemic and economic recession would set the luxury goods market back a bit, but Arnault remarkably grew his wealth by nearly $100 billion during the first year of the pandemic.\nArnault’s net worth sat at $195.8 billion as of Monday, while Bezos’ hovered at $192.6 billion.\nBezos made history in 2020 as the first person ever to be worth $200 billion, as Amazon enjoyed big gains from pandemic lockdowns.\nThe two billionaires had jockeyed for the top spot throughout May and June of this year, but the recent toss up put an end to Bezos’ 50-day streak at the top of the heap, according to Forbes.\nIn total, there are 2,755 billionaires worldwide, 86% of which are richer than they were a year ago for a combined $5 trillion increase in wealth in 2020.\nMeanwhile, the median net worth for American families is $121,700.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":3803,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}