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2021-04-07

S

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2021-04-07

Shiok

Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每 10 年就会引发一次——Archegos 可能是对的</blockquote>

2021-03-12

Hehehe

As the Financial Services Industry Goes Digital, Thematic Investing Trends Come to the Fore<blockquote>随着金融服务业走向数字化，主题投资趋势凸显</blockquote>

2021-03-04

Hehe

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2021-03-02

Hehe

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2021-03-02

Nice

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2021-03-01

Hehe

7 Stocks To Watch For March 1, 2021<blockquote>2021 年 3 月 1 日值得关注的 7 只股票</blockquote>

2021-02-27

Well

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2021-02-27

Hehe

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2021-02-25

Good

Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能会过于兴奋。</blockquote>

2021-02-24

Ooo

The RealReal Missed On Earnings, But Analysts See Hope As Economy Reopens<blockquote>RealReal 未能实现盈利，但随着经济重新开放，分析师看到了希望</blockquote>

2021-02-24

Nice

The RealReal Missed On Earnings, But Analysts See Hope As Economy Reopens<blockquote>RealReal 未能实现盈利，但随着经济重新开放，分析师看到了希望</blockquote>

2021-02-24

Good

Why the Plunge in More Speculative Tech Stocks Might Not Be Over Yet<blockquote>为什么更具投机性的科技股的暴跌可能尚未结束</blockquote>

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09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每 10 年就会引发一次——Archegos 可能是对的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能确定所谓家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机永远不会完全相同。20 世纪 80 年代末，全国近三分之一的储蓄和贷款协会倒闭，最终纳税人获得了约 2650 亿美元的救助（按 2021 年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄罗斯的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运作方式如此之大，以至于美联储主席艾伦-格林斯潘（Alan Greenspan）说，当 LTCM 失败时，“他一生中从未见过任何能与他感受到的恐怖相提并论的东西”。LTCM 被认为 “大到不能倒”，他策划了 14 家美国主要金融机构的救助计划。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构过度使用杠杆，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行又一次被认为太大而不能倒，纳税人出手相救。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆炸，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于门外汉来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思： 咨询公司安永估计，全球约有 10,000 家家族理财室，但市场研究公司坎普登研究公司（Campden Research）的另一项估计显示，管理规模接近 6 万亿美元。鉴于 2019 年的数据，这 6 万亿美元现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的资金管理人</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这就是潜在的危险。家族理财室一般不受监管。1940 年的《投资顾问法》规定，拥有 15 家或以下客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元在起作用，没有人能真正说出谁在管理这笔钱，投资了什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大力押注某些中国股票，包括电子商务公司唯品会控股有限公司（Vipshop Holdings Ltd.VIPS），-1.19%，美国上市中国辅导公司跟谁学公司（GSX），-10.63%，以及美国媒体公司ViacomCBS Inc.VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。股价最近暴跌，引发了 Archegos 的大规模出售——约 300 亿美元。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道 Archegos 与华尔街的一些大公司合作，包括瑞士信贷集团 AGCS（+1.59%）、瑞银集团 AGUBS（+1.01%）、高盛集团 GS（-1.25%）、摩根士丹利 MS（-0.28%）、德意志银行 AGDB，+0.74% 和野村控股公司 NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但是，由于家族理财室在很大程度上被允许不受监管地运营，谁能说出这里到底涉及多少钱，市场风险有多大？我的同事马克-德坎布雷（Mark DeCambre）上周报道称，Archegos 的真实不良交易风险实际上可能接近 1000 亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的来源。随着 Archegos 的赌注走向南方，上述银行--考虑到自己的损失--用保证金评级打击了该公司。德意志银行很快抛售了约 40 亿美元的持股，而据说高盛和摩根士丹利也已解除头寸，这或许限制了它们的下行空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎并非如此。即便如此，美国证券交易委员会已对 Archegos 及其创始人 Bill Hwang 展开初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>一位同行，Fundstrat Global Advisors 的研究主管 Tom Lee，将评级-黄（John Hwang）列为他所知道的 “十大最佳投资头脑 ”之一。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012 年，黄的前对冲基金老虎亚洲管理公司（Tiger Asia Management）被指控利用有关中国银行的非法线索进行交易，认罪并支付了 6000 多万美元的罚款。美国证券交易委员会禁止黄代表客户管理资金——实质上将他逐出了对冲基金行业。于是 Hwang 开了 Archegos，再说一遍，家族办公室一般都不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特-耶伦（Janet Yellen）的关注。她上周表示，需要对金融业的这些私人角落进行更严格的监管。她监管的金融稳定监督委员会（FSOC）重新启动了一个特别工作组，以帮助各机构更好地 “共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯的话来说，家族理财室——一个价值数万亿美元的行业，在很大程度上被允许在比以往任何时候都更加错综复杂的全球金融体系的阴影中运作——属于超级富豪，由超级富豪拥有，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的崩溃可能是也可能不是另一场金融危机的开始。但是，谁能说成千上万的其他家族理财室如何处理他们的数万亿美元，以及类似的问题是否会爆发？</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>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每 10 年就会引发一次——Archegos 可能是对的</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\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每 10 年就会引发一次——Archegos 可能是对的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-04-06 09:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能确定所谓家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机永远不会完全相同。20 世纪 80 年代末，全国近三分之一的储蓄和贷款协会倒闭，最终纳税人获得了约 2650 亿美元的救助（按 2021 年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄罗斯的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运作方式如此之大，以至于美联储主席艾伦-格林斯潘（Alan Greenspan）说，当 LTCM 失败时，“他一生中从未见过任何能与他感受到的恐怖相提并论的东西”。LTCM 被认为 “大到不能倒”，他策划了 14 家美国主要金融机构的救助计划。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构过度使用杠杆，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行又一次被认为太大而不能倒，纳税人出手相救。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆炸，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于门外汉来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思： 咨询公司安永估计，全球约有 10,000 家家族理财室，但市场研究公司坎普登研究公司（Campden Research）的另一项估计显示，管理规模接近 6 万亿美元。鉴于 2019 年的数据，这 6 万亿美元现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的资金管理人</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这就是潜在的危险。家族理财室一般不受监管。1940 年的《投资顾问法》规定，拥有 15 家或以下客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元在起作用，没有人能真正说出谁在管理这笔钱，投资了什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大力押注某些中国股票，包括电子商务公司唯品会控股有限公司（Vipshop Holdings Ltd.VIPS），-1.19%，美国上市中国辅导公司跟谁学公司（GSX），-10.63%，以及美国媒体公司ViacomCBS Inc.VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。股价最近暴跌，引发了 Archegos 的大规模出售——约 300 亿美元。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道 Archegos 与华尔街的一些大公司合作，包括瑞士信贷集团 AGCS（+1.59%）、瑞银集团 AGUBS（+1.01%）、高盛集团 GS（-1.25%）、摩根士丹利 MS（-0.28%）、德意志银行 AGDB，+0.74% 和野村控股公司 NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但是，由于家族理财室在很大程度上被允许不受监管地运营，谁能说出这里到底涉及多少钱，市场风险有多大？我的同事马克-德坎布雷（Mark DeCambre）上周报道称，Archegos 的真实不良交易风险实际上可能接近 1000 亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的来源。随着 Archegos 的赌注走向南方，上述银行--考虑到自己的损失--用保证金评级打击了该公司。德意志银行很快抛售了约 40 亿美元的持股，而据说高盛和摩根士丹利也已解除头寸，这或许限制了它们的下行空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎并非如此。即便如此，美国证券交易委员会已对 Archegos 及其创始人 Bill Hwang 展开初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>一位同行，Fundstrat Global Advisors 的研究主管 Tom Lee，将评级-黄（John Hwang）列为他所知道的 “十大最佳投资头脑 ”之一。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012 年，黄的前对冲基金老虎亚洲管理公司（Tiger Asia Management）被指控利用有关中国银行的非法线索进行交易，认罪并支付了 6000 多万美元的罚款。美国证券交易委员会禁止黄代表客户管理资金——实质上将他逐出了对冲基金行业。于是 Hwang 开了 Archegos，再说一遍，家族办公室一般都不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特-耶伦（Janet Yellen）的关注。她上周表示，需要对金融业的这些私人角落进行更严格的监管。她监管的金融稳定监督委员会（FSOC）重新启动了一个特别工作组，以帮助各机构更好地 “共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯的话来说，家族理财室——一个价值数万亿美元的行业，在很大程度上被允许在比以往任何时候都更加错综复杂的全球金融体系的阴影中运作——属于超级富豪，由超级富豪拥有，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的崩溃可能是也可能不是另一场金融危机的开始。但是，谁能说成千上万的其他家族理财室如何处理他们的数万亿美元，以及类似的问题是否会爆发？</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?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":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2993,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328873100,"gmtCreate":1615515538200,"gmtModify":1703490284825,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehehe","listText":"Hehehe","text":"Hehehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/328873100","repostId":"1112019535","repostType":4,"repost":{"id":"1112019535","kind":"news","pubTimestamp":1615513797,"share":"https://www.laohunote.com/m/news/1112019535?lang=zh_CN&edition=full","pubTime":"2021-03-12 09:49","market":"us","language":"en","title":"As the Financial Services Industry Goes Digital, Thematic Investing Trends Come to the Fore<blockquote>随着金融服务业走向数字化，主题投资趋势凸显</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112019535","media":"Nasdaq","summary":"At a recent virtual event hosted by Nasdaq, ETF industry experts discussed how firms are embracing t","content":"<p>At a recent virtual event hosted by Nasdaq, ETF industry experts discussed how firms are embracing the digital revolution accelerated by the coronavirus pandemic, adopting new technologies and leveraging market data in new ways to connect with clients. The panel also highlighted the rise of thematic investing, including several themes that have come to the fore, such as cybersecurity, biotech and environmental, social and governance (ESG), but emphasized that investor education remains critical to healthy markets.</p><p><blockquote>在纳斯达克最近主办的一次虚拟活动中，ETF 行业专家讨论了企业如何拥抱冠状病毒大流行加速的数字革命，采用新技术并以新的方式利用市场数据与客户建立联系。该小组还强调了主题投资的兴起，包括几个已经脱颖而出的主题，如网络安全、生物技术以及环境、社会和治理（ESG），但强调投资者教育对健康的市场仍然至关重要。</blockquote></p><p> “The global investment community has pivoted to a digital world during the pandemic,”Lauren Dillard, Head of Investment Intelligence at Nasdaq, said during Nasdaq’s recent Virtual Cabana Poolside Chat. “Since much of the workforce transitioned to a remote environment, everything from investment strategies to investor engagement was impacted. Client engagement needs to be meaningful, and insights have to be actionable and consumable to deliver on investment thesis.”</p><p><blockquote>“纳斯达克投资情报主管劳伦-迪拉德（Lauren Dillard）在纳斯达克最近的虚拟小屋池畔聊天中说：”在大流行病期间，全球投资界已经转向了数字世界。“由于大部分员工都转移到了远程环境，从投资策略到投资者参与的方方面面都受到了影响。客户参与需要有意义，而见解必须具有可操作性和可操作性，才能传达投资论点”。</blockquote></p><p> During the virtual event, a panel comprised of Dillard, John Molesphini, Global Head of Insights ateVestment, a Nasdaq platform, and Dave Nadig, CIO and Director of Research at ETF Trends, and moderated by Tom Lydon, CEO ofETF Trends, discussed how the financial services industry is embracing digitalization while recognizing the need for humanization to establish meaningful partnerships.</p><p><blockquote>在虚拟活动期间，由 Dillard、纳斯达克平台 Insights ateVestment 全球主管 John Molesphini 和 ETF Trends 首席信息官兼研究总监 Dave Nadig 组成的小组，由 ETF Trends 首席执行官 Tom Lydon 主持，讨论了金融服务行业如何拥抱数字化，同时认识到需要人性化来建立有意义的合作伙伴关系。</blockquote></p><p> “It’s the firms relying on all the data in this digital world, but still managing to have the client connection, that are going to be best suited to take advantage of what’s to come and what we’ve experienced in the last 12 months,” said Molesphini. “It’s having an internal infrastructure in place to take advantage of the data when it’s available and having the distribution network. This will allow you to communicate more effectively with clients or adjust distribution network based on some of the trends you see.”</p><p><blockquote>“莫莱斯菲尼说：”那些依赖数字世界中所有数据，但仍设法与客户建立联系的公司，将最适合利用即将发生的事情和我们在过去 12 个月中所经历的情况。“这需要建立一个内部基础设施，以便在数据可用时加以利用，并拥有分销网络。这将使您能够更有效地与客户沟通，或根据您看到的一些趋势调整分销网络。”</blockquote></p><p> As many firms rapidly accelerated their digitalization efforts amid the pandemic, several investment themes also benefitted, notably cyber, cloud and biotech, Dillard argued. She also highlighted the rise in energy transition, the growing need to strengthen domestic infrastructure and the performance of the Nasdaq-100 Index.</p><p><blockquote>迪拉德认为，随着许多公司在疫情期间迅速加速数字化工作，几个投资主题也受益，特别是网络、云和生物技术。她还强调了能源转型的兴起、加强国内基础设施的日益增长的需求以及纳斯达克 100 指数的表现。</blockquote></p><p> “The Nasdaq-100 companies represent the modern industrial way we are all living,” said Dillard. “We are seeing demand around the globe, further heightened during the pandemic. In 2020, over $23 billion of net inflows into NDX ETF products, highlighting the strength of Nasdaq-100 companies.”</p><p><blockquote>“迪拉德说：”纳斯达克 100 强公司代表了我们所有人的现代工业生活方式。“我们看到全球的需求在大流行病期间进一步提高。2020 年，NDX ETF 产品净流入超过 230 亿美元，凸显了纳斯达克 100 强公司的实力”。</blockquote></p><p> Beyond these themes, Dillard and the other panelists spoke about the emergence of ESG in mainstream investment strategies.</p><p><blockquote>除了这些主题之外，迪拉德和其他小组成员还谈到了ESG在主流投资策略中的出现。</blockquote></p><p> “The industry come to recognize the fundamental differences between environmental, social, and governance criteria. They fit in portfolios in very different ways and give investors different exposure,” Dillard said. “But we finally see an understanding that ESG doesn’t just mean clean energy; it also doesn’t just mean gender diversity. The level of sophistication among the investing community around ESG has accelerated.”</p><p><blockquote>“业界逐渐认识到环境、社会和治理标准之间的根本差异。它们以截然不同的方式融入投资组合，并为投资者提供不同的风险敞口，”迪拉德说。“但我们终于明白，环境、社会和治理不仅仅意味着清洁能源，也不仅仅意味着性别多元化。投资界对环境、社会和治理的成熟度已经加快。”</blockquote></p><p> Because ESG is top of mind for many investors, Molesphini emphasized that when talking to clients and prospects, “you’re not just pitching them a product, you’re pitching them your firm.”</p><p><blockquote>由于 ESG 是许多投资者最关心的问题，Molesphini 强调，在与客户和潜在客户交谈时，“你不仅仅是向他们推销产品，而是向他们推销你的公司”。</blockquote></p><p> “We found that the best way to have an effective discussion on ESG is to approach the topic with an outcome oriented thinking,” Dillard added. “What are you trying to achieve, and what are your clients asking you around whether it’s E or it’s S, or it’s G.”</p><p><blockquote>“迪拉德补充说：”我们发现，就环境、社会和治理进行有效讨论的最佳方式是以结果为导向的思维方式来探讨这一话题。“你想达到什么目的？你的客户在问你什么，无论是E、S还是G。”</blockquote></p><p> Molesphini also stressed the importance of communicating and engaging with clients, especially in a rapidly changing market environment, not only regarding ESG but also with new products and market conditions.</p><p><blockquote>Molesphini还强调了与客户沟通和互动的重要性，尤其是在快速变化的市场环境中，不仅涉及ESG，还涉及新产品和市场条件。</blockquote></p><p> “We had market volatility and market trends that were taking place before the virus—low-interest rates and people looking to diversify, looking at alternative asset classes, looking at more thematic investing,” said Molesphini. “You can see that with some of our ETF providers bringing more product into the market. Then, on top of the investment themes going on, you have the virus, [and you have to] engage with the clients and educate them on what’s going on, but also keep them comfortable in this environment.”</p><p><blockquote>“莫莱斯菲尼说：”我们的市场波动和市场趋势在病毒爆发前就已经出现--低利率和人们寻求多元化投资、寻找替代资产类别、寻找更多主题投资。“你可以从我们的一些 ETF 提供商向市场推出更多产品中看到这一点。然后，除了正在进行的投资主题之外，你还有病毒，[你必须]与客户互动，教育他们正在发生的事情，同时也要让他们在这种环境中感到舒适。”</blockquote></p><p> ETF Trends’ Nadig reflected upon his recent experiences with financial advisors, noting that they “talk about wanting to have fewer, better relationships,” and many have adopted new technologies.</p><p><blockquote>ETF Trends 的 Nadig 回顾了他最近与财务顾问打交道的经历，指出他们 “谈论希望拥有更少、更好的关系”，而且许多人已经采用了新技术。</blockquote></p><p> “Most [advisors] report that their relationships with their clients have gotten better through all of this. They’ve had more frequent contact, more meaningful contact,” said Nadig.</p><p><blockquote>“大多数（顾问）都表示，通过这一切，他们与客户的关系有所改善。他们的联系更频繁，接触更有意义，”纳迪格说。</blockquote></p><p> “I would argue that to some degree there’s a humanization element that has happened as a result of this, which can deepen partnerships. I definitely believe that the idea of those fewer, deeper partnerships has resonated,” noted Dillard.</p><p><blockquote>“我认为，在某种程度上，这带来了一种人性化的因素，可以加深伙伴关系。我绝对相信，这种更少、更深层次的伙伴关系的想法已经引起了共鸣，”迪拉德指出。</blockquote></p><p></p><p> “Portfolios are getting really complex,” Dillard said. “All of that ties back to more education and working with the right partners. It also means to listen to our clients and understand what investors they are trying to target because I can promise you the one that wants fixed income type products is probably not the same as the one that wants a crypto product.”</p><p><blockquote>“迪拉德说：”投资组合变得非常复杂。“所有这些都与更多的教育和与合适的合作伙伴合作有关。这也意味着要倾听客户的心声，了解他们想瞄准哪些投资者，因为我可以向你保证，想要固定收益类产品的人可能和想要加密货币产品的人不一样。”</blockquote></p><p></p>","source":"lsy1603171495471","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>As the Financial Services Industry Goes Digital, Thematic Investing Trends Come to the Fore<blockquote>随着金融服务业走向数字化，主题投资趋势凸显</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\">\nAs the Financial Services Industry Goes Digital, Thematic Investing Trends Come to the Fore<blockquote>随着金融服务业走向数字化，主题投资趋势凸显</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-03-12 09:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>At a recent virtual event hosted by Nasdaq, ETF industry experts discussed how firms are embracing the digital revolution accelerated by the coronavirus pandemic, adopting new technologies and leveraging market data in new ways to connect with clients. The panel also highlighted the rise of thematic investing, including several themes that have come to the fore, such as cybersecurity, biotech and environmental, social and governance (ESG), but emphasized that investor education remains critical to healthy markets.</p><p><blockquote>在纳斯达克最近主办的一次虚拟活动中，ETF 行业专家讨论了企业如何拥抱冠状病毒大流行加速的数字革命，采用新技术并以新的方式利用市场数据与客户建立联系。该小组还强调了主题投资的兴起，包括几个已经脱颖而出的主题，如网络安全、生物技术以及环境、社会和治理（ESG），但强调投资者教育对健康的市场仍然至关重要。</blockquote></p><p> “The global investment community has pivoted to a digital world during the pandemic,”Lauren Dillard, Head of Investment Intelligence at Nasdaq, said during Nasdaq’s recent Virtual Cabana Poolside Chat. “Since much of the workforce transitioned to a remote environment, everything from investment strategies to investor engagement was impacted. Client engagement needs to be meaningful, and insights have to be actionable and consumable to deliver on investment thesis.”</p><p><blockquote>“纳斯达克投资情报主管劳伦-迪拉德（Lauren Dillard）在纳斯达克最近的虚拟小屋池畔聊天中说：”在大流行病期间，全球投资界已经转向了数字世界。“由于大部分员工都转移到了远程环境，从投资策略到投资者参与的方方面面都受到了影响。客户参与需要有意义，而见解必须具有可操作性和可操作性，才能传达投资论点”。</blockquote></p><p> During the virtual event, a panel comprised of Dillard, John Molesphini, Global Head of Insights ateVestment, a Nasdaq platform, and Dave Nadig, CIO and Director of Research at ETF Trends, and moderated by Tom Lydon, CEO ofETF Trends, discussed how the financial services industry is embracing digitalization while recognizing the need for humanization to establish meaningful partnerships.</p><p><blockquote>在虚拟活动期间，由 Dillard、纳斯达克平台 Insights ateVestment 全球主管 John Molesphini 和 ETF Trends 首席信息官兼研究总监 Dave Nadig 组成的小组，由 ETF Trends 首席执行官 Tom Lydon 主持，讨论了金融服务行业如何拥抱数字化，同时认识到需要人性化来建立有意义的合作伙伴关系。</blockquote></p><p> “It’s the firms relying on all the data in this digital world, but still managing to have the client connection, that are going to be best suited to take advantage of what’s to come and what we’ve experienced in the last 12 months,” said Molesphini. “It’s having an internal infrastructure in place to take advantage of the data when it’s available and having the distribution network. This will allow you to communicate more effectively with clients or adjust distribution network based on some of the trends you see.”</p><p><blockquote>“莫莱斯菲尼说：”那些依赖数字世界中所有数据，但仍设法与客户建立联系的公司，将最适合利用即将发生的事情和我们在过去 12 个月中所经历的情况。“这需要建立一个内部基础设施，以便在数据可用时加以利用，并拥有分销网络。这将使您能够更有效地与客户沟通，或根据您看到的一些趋势调整分销网络。”</blockquote></p><p> As many firms rapidly accelerated their digitalization efforts amid the pandemic, several investment themes also benefitted, notably cyber, cloud and biotech, Dillard argued. She also highlighted the rise in energy transition, the growing need to strengthen domestic infrastructure and the performance of the Nasdaq-100 Index.</p><p><blockquote>迪拉德认为，随着许多公司在疫情期间迅速加速数字化工作，几个投资主题也受益，特别是网络、云和生物技术。她还强调了能源转型的兴起、加强国内基础设施的日益增长的需求以及纳斯达克 100 指数的表现。</blockquote></p><p> “The Nasdaq-100 companies represent the modern industrial way we are all living,” said Dillard. “We are seeing demand around the globe, further heightened during the pandemic. In 2020, over $23 billion of net inflows into NDX ETF products, highlighting the strength of Nasdaq-100 companies.”</p><p><blockquote>“迪拉德说：”纳斯达克 100 强公司代表了我们所有人的现代工业生活方式。“我们看到全球的需求在大流行病期间进一步提高。2020 年，NDX ETF 产品净流入超过 230 亿美元，凸显了纳斯达克 100 强公司的实力”。</blockquote></p><p> Beyond these themes, Dillard and the other panelists spoke about the emergence of ESG in mainstream investment strategies.</p><p><blockquote>除了这些主题之外，迪拉德和其他小组成员还谈到了ESG在主流投资策略中的出现。</blockquote></p><p> “The industry come to recognize the fundamental differences between environmental, social, and governance criteria. They fit in portfolios in very different ways and give investors different exposure,” Dillard said. “But we finally see an understanding that ESG doesn’t just mean clean energy; it also doesn’t just mean gender diversity. The level of sophistication among the investing community around ESG has accelerated.”</p><p><blockquote>“业界逐渐认识到环境、社会和治理标准之间的根本差异。它们以截然不同的方式融入投资组合，并为投资者提供不同的风险敞口，”迪拉德说。“但我们终于明白，环境、社会和治理不仅仅意味着清洁能源，也不仅仅意味着性别多元化。投资界对环境、社会和治理的成熟度已经加快。”</blockquote></p><p> Because ESG is top of mind for many investors, Molesphini emphasized that when talking to clients and prospects, “you’re not just pitching them a product, you’re pitching them your firm.”</p><p><blockquote>由于 ESG 是许多投资者最关心的问题，Molesphini 强调，在与客户和潜在客户交谈时，“你不仅仅是向他们推销产品，而是向他们推销你的公司”。</blockquote></p><p> “We found that the best way to have an effective discussion on ESG is to approach the topic with an outcome oriented thinking,” Dillard added. “What are you trying to achieve, and what are your clients asking you around whether it’s E or it’s S, or it’s G.”</p><p><blockquote>“迪拉德补充说：”我们发现，就环境、社会和治理进行有效讨论的最佳方式是以结果为导向的思维方式来探讨这一话题。“你想达到什么目的？你的客户在问你什么，无论是E、S还是G。”</blockquote></p><p> Molesphini also stressed the importance of communicating and engaging with clients, especially in a rapidly changing market environment, not only regarding ESG but also with new products and market conditions.</p><p><blockquote>Molesphini还强调了与客户沟通和互动的重要性，尤其是在快速变化的市场环境中，不仅涉及ESG，还涉及新产品和市场条件。</blockquote></p><p> “We had market volatility and market trends that were taking place before the virus—low-interest rates and people looking to diversify, looking at alternative asset classes, looking at more thematic investing,” said Molesphini. “You can see that with some of our ETF providers bringing more product into the market. Then, on top of the investment themes going on, you have the virus, [and you have to] engage with the clients and educate them on what’s going on, but also keep them comfortable in this environment.”</p><p><blockquote>“莫莱斯菲尼说：”我们的市场波动和市场趋势在病毒爆发前就已经出现--低利率和人们寻求多元化投资、寻找替代资产类别、寻找更多主题投资。“你可以从我们的一些 ETF 提供商向市场推出更多产品中看到这一点。然后，除了正在进行的投资主题之外，你还有病毒，[你必须]与客户互动，教育他们正在发生的事情，同时也要让他们在这种环境中感到舒适。”</blockquote></p><p> ETF Trends’ Nadig reflected upon his recent experiences with financial advisors, noting that they “talk about wanting to have fewer, better relationships,” and many have adopted new technologies.</p><p><blockquote>ETF Trends 的 Nadig 回顾了他最近与财务顾问打交道的经历，指出他们 “谈论希望拥有更少、更好的关系”，而且许多人已经采用了新技术。</blockquote></p><p> “Most [advisors] report that their relationships with their clients have gotten better through all of this. They’ve had more frequent contact, more meaningful contact,” said Nadig.</p><p><blockquote>“大多数（顾问）都表示，通过这一切，他们与客户的关系有所改善。他们的联系更频繁，接触更有意义，”纳迪格说。</blockquote></p><p> “I would argue that to some degree there’s a humanization element that has happened as a result of this, which can deepen partnerships. I definitely believe that the idea of those fewer, deeper partnerships has resonated,” noted Dillard.</p><p><blockquote>“我认为，在某种程度上，这带来了一种人性化的因素，可以加深伙伴关系。我绝对相信，这种更少、更深层次的伙伴关系的想法已经引起了共鸣，”迪拉德指出。</blockquote></p><p></p><p> “Portfolios are getting really complex,” Dillard said. “All of that ties back to more education and working with the right partners. It also means to listen to our clients and understand what investors they are trying to target because I can promise you the one that wants fixed income type products is probably not the same as the one that wants a crypto product.”</p><p><blockquote>“迪拉德说：”投资组合变得非常复杂。“所有这些都与更多的教育和与合适的合作伙伴合作有关。这也意味着要倾听客户的心声，了解他们想瞄准哪些投资者，因为我可以向你保证，想要固定收益类产品的人可能和想要加密货币产品的人不一样。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/as-the-financial-services-industry-goes-digital-thematic-investing-trends-come-to-the-fore\">Nasdaq</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.nasdaq.com/articles/as-the-financial-services-industry-goes-digital-thematic-investing-trends-come-to-the-fore","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112019535","content_text":"At a recent virtual event hosted by Nasdaq, ETF industry experts discussed how firms are embracing the digital revolution accelerated by the coronavirus pandemic, adopting new technologies and leveraging market data in new ways to connect with clients. The panel also highlighted the rise of thematic investing, including several themes that have come to the fore, such as cybersecurity, biotech and environmental, social and governance (ESG), but emphasized that investor education remains critical to healthy markets.\n“The global investment community has pivoted to a digital world during the pandemic,”Lauren Dillard, Head of Investment Intelligence at Nasdaq, said during Nasdaq’s recent Virtual Cabana Poolside Chat. “Since much of the workforce transitioned to a remote environment, everything from investment strategies to investor engagement was impacted. Client engagement needs to be meaningful, and insights have to be actionable and consumable to deliver on investment thesis.”\nDuring the virtual event, a panel comprised of Dillard, John Molesphini, Global Head of Insights ateVestment, a Nasdaq platform, and Dave Nadig, CIO and Director of Research at ETF Trends, and moderated by Tom Lydon, CEO ofETF Trends, discussed how the financial services industry is embracing digitalization while recognizing the need for humanization to establish meaningful partnerships.\n“It’s the firms relying on all the data in this digital world, but still managing to have the client connection, that are going to be best suited to take advantage of what’s to come and what we’ve experienced in the last 12 months,” said Molesphini. “It’s having an internal infrastructure in place to take advantage of the data when it’s available and having the distribution network. This will allow you to communicate more effectively with clients or adjust distribution network based on some of the trends you see.”\nAs many firms rapidly accelerated their digitalization efforts amid the pandemic, several investment themes also benefitted, notably cyber, cloud and biotech, Dillard argued. She also highlighted the rise in energy transition, the growing need to strengthen domestic infrastructure and the performance of the Nasdaq-100 Index.\n“The Nasdaq-100 companies represent the modern industrial way we are all living,” said Dillard. “We are seeing demand around the globe, further heightened during the pandemic. In 2020, over $23 billion of net inflows into NDX ETF products, highlighting the strength of Nasdaq-100 companies.”\nBeyond these themes, Dillard and the other panelists spoke about the emergence of ESG in mainstream investment strategies.\n“The industry come to recognize the fundamental differences between environmental, social, and governance criteria. They fit in portfolios in very different ways and give investors different exposure,” Dillard said. “But we finally see an understanding that ESG doesn’t just mean clean energy; it also doesn’t just mean gender diversity. The level of sophistication among the investing community around ESG has accelerated.”\nBecause ESG is top of mind for many investors, Molesphini emphasized that when talking to clients and prospects, “you’re not just pitching them a product, you’re pitching them your firm.”\n“We found that the best way to have an effective discussion on ESG is to approach the topic with an outcome oriented thinking,” Dillard added. “What are you trying to achieve, and what are your clients asking you around whether it’s E or it’s S, or it’s G.”\nMolesphini also stressed the importance of communicating and engaging with clients, especially in a rapidly changing market environment, not only regarding ESG but also with new products and market conditions.\n“We had market volatility and market trends that were taking place before the virus—low-interest rates and people looking to diversify, looking at alternative asset classes, looking at more thematic investing,” said Molesphini. “You can see that with some of our ETF providers bringing more product into the market. Then, on top of the investment themes going on, you have the virus, [and you have to] engage with the clients and educate them on what’s going on, but also keep them comfortable in this environment.”\nETF Trends’ Nadig reflected upon his recent experiences with financial advisors, noting that they “talk about wanting to have fewer, better relationships,” and many have adopted new technologies.\n“Most [advisors] report that their relationships with their clients have gotten better through all of this. They’ve had more frequent contact, more meaningful contact,” said Nadig.\n“I would argue that to some degree there’s a humanization element that has happened as a result of this, which can deepen partnerships. I definitely believe that the idea of those fewer, deeper partnerships has resonated,” noted Dillard.\n“Portfolios are getting really complex,” Dillard said. “All of that ties back to more education and working with the right partners. It also means to listen to our clients and understand what investors they are trying to target because I can promise you the one that wants fixed income type products is probably not the same as the one that wants a crypto product.”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364533300,"gmtCreate":1614862926400,"gmtModify":1703482128366,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehe","listText":"Hehe","text":"Hehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/364533300","repostId":"1119441964","repostType":4,"isVote":1,"tweetType":1,"viewCount":1542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365961218,"gmtCreate":1614690400934,"gmtModify":1703479904192,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehe","listText":"Hehe","text":"Hehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365961218","repostId":"2116596110","repostType":4,"isVote":1,"tweetType":1,"viewCount":1867,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365961198,"gmtCreate":1614690375114,"gmtModify":1703479904022,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365961198","repostId":"1169004570","repostType":4,"isVote":1,"tweetType":1,"viewCount":2308,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362303120,"gmtCreate":1614592769360,"gmtModify":1703478577623,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehe","listText":"Hehe","text":"Hehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362303120","repostId":"2116453148","repostType":4,"repost":{"id":"2116453148","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1614590670,"share":"https://www.laohunote.com/m/news/2116453148?lang=zh_CN&edition=full","pubTime":"2021-03-01 17:24","market":"hk","language":"en","title":"7 Stocks To Watch For March 1, 2021<blockquote>2021 年 3 月 1 日值得关注的 7 只股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2116453148","media":"Benzinga Earnings","summary":"Some of the stocks that may grab investor focus today are:","content":"<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p><ul><li>Wall Street expects <b> DENTSPLY SIRONA Inc</b> (NASDAQ:XRAY) to report quarterly earnings at $0.64 per share on revenue of $995.70 million before the opening bell. Dentsply Sirona shares rose 0.3% to $53.25 in after-hours trading.</li><li>Rocket Lab USA Inc. is nearing a deal to go public through a merger with <b><a href=\"https://laohu8.com/S/VACQ\">Vector Acquisition Corp</a>.</b> (NASDAQ:VACQ), the Wall Street Journal reported. Vector Acquisition shares gained 1.2% to $10.37 in the after-hours trading session.</li><li>Analysts are expecting <b> <a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video Communications Inc</b> (NASDAQ:ZM) to have earned $0.79 per share on revenue of $811.77 million for the latest quarter. The company will release earnings after the markets close. Zoom shares rose 0.7% to $376.15 in after-hours trading.</li></ul><ul><li><b>AstraZeneca plc</b> (NASDAQ:AZN) sold its 7.7% stake in <b>Moderna Inc. </b> (NASDAQ:MRNA) for over $1 billion, the Times reported. AstraZeneca shares gained 0.1% to $48.39 in after-hours trading, while Moderna shares fell 1% to $153.30 in the after-hours trading session.</li><li>Before the markets open, <b> Perrigo Company <a href=\"https://laohu8.com/S/PLC\">PLC</a></b> (NYSE:PRGO) is projected to report quarterly earnings at $1.00 per share on revenue of $1.32 billion. Perrigo shares fell 1.3% to $39.85 in after-hours trading.</li><li>Analysts expect <b> Nio Inc - ADR</b> (NYSE:NIO) to post a quarterly loss at $0.09 per share on revenue of $993.96 million after the closing bell. Nio shares fell 2.2% to close at $45.78 on Friday.</li></ul></p><p><blockquote><ul><li>华尔街预期<b>登士柏西罗纳公司</b>（纳斯达克股票代码：XRAY）公布季度收益为每股 0.64 美元，开盘前营收为 9.957 亿美元。Dentsply Sirona 股价在盘后交易中上涨 0.3%，至 53.25 美元。</li><li>Rocket Lab USA Inc. 即将通过与<b><a href=\"https://laohu8.com/S/VACQ\">矢量收购公司</a>.</b>（纳斯达克股票代码：VACQ），《华尔街日报》报道。Vector Acquisition 股价在盘后交易时段上涨 1.2%，至 10.37 美元。</li><li>分析师预计<b><a href=\"https://laohu8.com/S/ZM\">缩放</a>视频通信公司</b>（纳斯达克股票代码：ZM）最新季度每股收益 0.79 美元，营收为 8.1177 亿美元。该公司将在收盘后发布财报。Zoom 股价在盘后交易中上涨 0.7%，至 376.15 美元。</li></ul><ul><li><b>阿斯利康公司</b>（纳斯达克股票代码：AZN）出售其 7.7% 的股份<b>现代公司。</b>据《泰晤士报》报道，（纳斯达克股票代码：MRNA）价值超过 10 亿美元。阿斯利康股价在盘后交易中上涨 0.1%，至 48.39 美元，而 Moderna 股价在盘后交易时段下跌 1%，至 153.30 美元。</li><li>在市场开放之前，<b>佩里戈公司<a href=\"https://laohu8.com/S/PLC\">PLC</a></b>（纽约证券交易所股票代码：PRGO）预计季度收益为每股 1.00 美元，营收为 13.2 亿美元。Perrigo 股价在盘后交易中下跌 1.3%，至 39.85 美元。</li><li>分析师预计<b>蔚来公司 - ADR</b>（纽约证券交易所股票代码：NIO）收盘后季度亏损为每股 0.09 美元，营收为 9.9396 亿美元。蔚来股价周五下跌 2.2%，收于 45.78 美元。</li></ul></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Stocks To Watch For March 1, 2021<blockquote>2021 年 3 月 1 日值得关注的 7 只股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n7 Stocks To Watch For March 1, 2021<blockquote>2021 年 3 月 1 日值得关注的 7 只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-03-01 17:24</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p><ul><li>Wall Street expects <b> DENTSPLY SIRONA Inc</b> (NASDAQ:XRAY) to report quarterly earnings at $0.64 per share on revenue of $995.70 million before the opening bell. Dentsply Sirona shares rose 0.3% to $53.25 in after-hours trading.</li><li>Rocket Lab USA Inc. is nearing a deal to go public through a merger with <b><a href=\"https://laohu8.com/S/VACQ\">Vector Acquisition Corp</a>.</b> (NASDAQ:VACQ), the Wall Street Journal reported. Vector Acquisition shares gained 1.2% to $10.37 in the after-hours trading session.</li><li>Analysts are expecting <b> <a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video Communications Inc</b> (NASDAQ:ZM) to have earned $0.79 per share on revenue of $811.77 million for the latest quarter. The company will release earnings after the markets close. Zoom shares rose 0.7% to $376.15 in after-hours trading.</li></ul><ul><li><b>AstraZeneca plc</b> (NASDAQ:AZN) sold its 7.7% stake in <b>Moderna Inc. </b> (NASDAQ:MRNA) for over $1 billion, the Times reported. AstraZeneca shares gained 0.1% to $48.39 in after-hours trading, while Moderna shares fell 1% to $153.30 in the after-hours trading session.</li><li>Before the markets open, <b> Perrigo Company <a href=\"https://laohu8.com/S/PLC\">PLC</a></b> (NYSE:PRGO) is projected to report quarterly earnings at $1.00 per share on revenue of $1.32 billion. Perrigo shares fell 1.3% to $39.85 in after-hours trading.</li><li>Analysts expect <b> Nio Inc - ADR</b> (NYSE:NIO) to post a quarterly loss at $0.09 per share on revenue of $993.96 million after the closing bell. Nio shares fell 2.2% to close at $45.78 on Friday.</li></ul></p><p><blockquote><ul><li>华尔街预期<b>登士柏西罗纳公司</b>（纳斯达克股票代码：XRAY）公布季度收益为每股 0.64 美元，开盘前营收为 9.957 亿美元。Dentsply Sirona 股价在盘后交易中上涨 0.3%，至 53.25 美元。</li><li>Rocket Lab USA Inc. 即将通过与<b><a href=\"https://laohu8.com/S/VACQ\">矢量收购公司</a>.</b>（纳斯达克股票代码：VACQ），《华尔街日报》报道。Vector Acquisition 股价在盘后交易时段上涨 1.2%，至 10.37 美元。</li><li>分析师预计<b><a href=\"https://laohu8.com/S/ZM\">缩放</a>视频通信公司</b>（纳斯达克股票代码：ZM）最新季度每股收益 0.79 美元，营收为 8.1177 亿美元。该公司将在收盘后发布财报。Zoom 股价在盘后交易中上涨 0.7%，至 376.15 美元。</li></ul><ul><li><b>阿斯利康公司</b>（纳斯达克股票代码：AZN）出售其 7.7% 的股份<b>现代公司。</b>据《泰晤士报》报道，（纳斯达克股票代码：MRNA）价值超过 10 亿美元。阿斯利康股价在盘后交易中上涨 0.1%，至 48.39 美元，而 Moderna 股价在盘后交易时段下跌 1%，至 153.30 美元。</li><li>在市场开放之前，<b>佩里戈公司<a href=\"https://laohu8.com/S/PLC\">PLC</a></b>（纽约证券交易所股票代码：PRGO）预计季度收益为每股 1.00 美元，营收为 13.2 亿美元。Perrigo 股价在盘后交易中下跌 1.3%，至 39.85 美元。</li><li>分析师预计<b>蔚来公司 - ADR</b>（纽约证券交易所股票代码：NIO）收盘后季度亏损为每股 0.09 美元，营收为 9.9396 亿美元。蔚来股价周五下跌 2.2%，收于 45.78 美元。</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PRGO":"百利高","ZM":"Zoom","NIO":"蔚来","AZN":"阿斯利康","XRAY":"登士柏国际","MRNA":"Moderna, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2116453148","content_text":"Some of the stocks that may grab investor focus today are:Wall Street expects  DENTSPLY SIRONA Inc (NASDAQ:XRAY) to report quarterly earnings at $0.64 per share on revenue of $995.70 million before the opening bell. Dentsply Sirona shares rose 0.3% to $53.25 in after-hours trading.Rocket Lab USA Inc. is nearing a deal to go public through a merger with Vector Acquisition Corp. (NASDAQ:VACQ), the Wall Street Journal reported. Vector Acquisition shares gained 1.2% to $10.37 in the after-hours trading session.Analysts are expecting  Zoom Video Communications Inc (NASDAQ:ZM) to have earned $0.79 per share on revenue of $811.77 million for the latest quarter. The company will release earnings after the markets close. Zoom shares rose 0.7% to $376.15 in after-hours trading.AstraZeneca plc (NASDAQ:AZN) sold its 7.7% stake in Moderna Inc.  (NASDAQ:MRNA) for over $1 billion, the Times reported. AstraZeneca shares gained 0.1% to $48.39 in after-hours trading, while Moderna shares fell 1% to $153.30 in the after-hours trading session.Before the markets open,  Perrigo Company PLC (NYSE:PRGO) is projected to report quarterly earnings at $1.00 per share on revenue of $1.32 billion. Perrigo shares fell 1.3% to $39.85 in after-hours trading.Analysts expect  Nio Inc - ADR (NYSE:NIO) to post a quarterly loss at $0.09 per share on revenue of $993.96 million after the closing bell. Nio shares fell 2.2% to close at $45.78 on Friday.","news_type":1,"symbols_score_info":{"ZM":0.9,"MRNA":0.9,"NIO":0.9,"VACQ":0.9,"PRGO":0.9,"AZN":0.9,"XRAY":0.9}},"isVote":1,"tweetType":1,"viewCount":2329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366800570,"gmtCreate":1614423595590,"gmtModify":1703477479100,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Well","listText":"Well","text":"Well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/366800570","repostId":"1181374212","repostType":4,"isVote":1,"tweetType":1,"viewCount":2806,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366174755,"gmtCreate":1614423375177,"gmtModify":1703477476375,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehe","listText":"Hehe","text":"Hehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/366174755","repostId":"1181374212","repostType":4,"isVote":1,"tweetType":1,"viewCount":2397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368008692,"gmtCreate":1614264775516,"gmtModify":1634550392005,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368008692","repostId":"1165777611","repostType":4,"repost":{"id":"1165777611","kind":"news","pubTimestamp":1614247990,"share":"https://www.laohunote.com/m/news/1165777611?lang=zh_CN&edition=full","pubTime":"2021-02-25 18:13","market":"us","language":"en","title":"Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能会过于兴奋。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165777611","media":"Barrons","summary":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyana","content":"<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进军汽车行业的影响继续引发各家股票经纪公司的大量猜测和分析报告。派珀·桑德勒 (Piper Sandler) 参与了周三的辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与生产智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech 分析师 Harsh Kumar 表示，苹果（股票代码：AAPL）汽车的时机是正确的。“这位分析师在周三的一份研究报告中写道：”该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。电动汽车正在激增，自动驾驶技术正在进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar 涵盖苹果和其他科技股。他的 23 页报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖了豪华车和经济型轿车等行业规模和市场细分，这与汽车研究课程是一样的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出 10 万辆汽车。这可能是激进的。蔚来汽车（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家经营多年的电动汽车初创公司。2020 年，他们总共销售了约 10 万辆汽车。Kumar 认为苹果到 2030 年可以交付 100 万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一种数字乐趣。他们被巨大的市场规模所吸引：新车销量每年超过2.5万亿美元。但汽车分析师对苹果汽车的热情较为低调，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心壮志的一个因素是，汽车当然比手机贵得多，这使得购买决策大不相同。此外，Benchmark auto 分析师 Mike Wardtells 表示：“汽车行业的监管是残酷的，需要数年时间才能度过难关。”<i>巴伦</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德说，他在汽车行业听不到苹果的嗡嗡声。“在汽车行业，要保持这种平静是相当困难的--成千上万的供应商、[政府]的批准、所需的工厂规模等等”。他并不是说这不可能发生，但这比许多投资者想象的要难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定有一辆苹果汽车在路上，但如果真的出现了，“别指望会有方向盘”。这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的普及。这可以帮助现有汽车制造商采取更先进的方法进入电动汽车市场。但更高的渗透率并不是汽车行业的灵丹妙药。“这位分析师在最近的一份报告中写道：”在某种程度上，当今的电动汽车制造商必须分享沙盒。</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这一威胁尚未影响他在竞争对手中的评分。他将特斯拉股票评级为买入，并将通用汽车 (GM) 列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快问世。他们一致认为，如果苹果汽车正在路上，它将被推迟，直到完全自动驾驶功能得到更广泛的应用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但完全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师里安-布林克曼（Ryan Brinkman）补充说，新的竞争对手苹果的规模和实力对现有汽车制造商来说是一个负面因素，但和沃德一样，他也没有听说过在汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装自己的汽车。这为一些现有的汽车标记创造了一个机会来建立更多的体积。不过，哪家公司会胜出，谁也说不准。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush 分析师丹·艾夫斯 (Dan Ives) 负责研究颠覆性技术，其中包括苹果和电动汽车制造商特斯拉 (TSLA)，他将赌注押在大众汽车 (VOW.Germany) 上。“艾夫斯在最近的一份报告中写道：”我们认为，苹果将在未来 3 到 6 个月内宣布建立电动汽车合作伙伴关系/合作的可能性超过 85%。“我们仍然坚信，鉴于大众汽车的模块化工厂规模以及关键的量子场景所有权，大众汽车是苹果电动汽车合作伙伴/合资企业的首选。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape (QS) 正在开创固态锂阳极电池，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年 12 月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约 26% 和 10%。相比之下，标准普尔 500 指数和道琼斯工业平均指数分别上涨约 5% 和 4%。苹果股价下跌约 6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</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>Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能会过于兴奋。</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\">\nWall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能会过于兴奋。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-25 18:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进军汽车行业的影响继续引发各家股票经纪公司的大量猜测和分析报告。派珀·桑德勒 (Piper Sandler) 参与了周三的辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与生产智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech 分析师 Harsh Kumar 表示，苹果（股票代码：AAPL）汽车的时机是正确的。“这位分析师在周三的一份研究报告中写道：”该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。电动汽车正在激增，自动驾驶技术正在进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar 涵盖苹果和其他科技股。他的 23 页报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖了豪华车和经济型轿车等行业规模和市场细分，这与汽车研究课程是一样的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出 10 万辆汽车。这可能是激进的。蔚来汽车（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家经营多年的电动汽车初创公司。2020 年，他们总共销售了约 10 万辆汽车。Kumar 认为苹果到 2030 年可以交付 100 万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一种数字乐趣。他们被巨大的市场规模所吸引：新车销量每年超过2.5万亿美元。但汽车分析师对苹果汽车的热情较为低调，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心壮志的一个因素是，汽车当然比手机贵得多，这使得购买决策大不相同。此外，Benchmark auto 分析师 Mike Wardtells 表示：“汽车行业的监管是残酷的，需要数年时间才能度过难关。”<i>巴伦</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德说，他在汽车行业听不到苹果的嗡嗡声。“在汽车行业，要保持这种平静是相当困难的--成千上万的供应商、[政府]的批准、所需的工厂规模等等”。他并不是说这不可能发生，但这比许多投资者想象的要难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定有一辆苹果汽车在路上，但如果真的出现了，“别指望会有方向盘”。这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的普及。这可以帮助现有汽车制造商采取更先进的方法进入电动汽车市场。但更高的渗透率并不是汽车行业的灵丹妙药。“这位分析师在最近的一份报告中写道：”在某种程度上，当今的电动汽车制造商必须分享沙盒。</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这一威胁尚未影响他在竞争对手中的评分。他将特斯拉股票评级为买入，并将通用汽车 (GM) 列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快问世。他们一致认为，如果苹果汽车正在路上，它将被推迟，直到完全自动驾驶功能得到更广泛的应用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但完全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师里安-布林克曼（Ryan Brinkman）补充说，新的竞争对手苹果的规模和实力对现有汽车制造商来说是一个负面因素，但和沃德一样，他也没有听说过在汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装自己的汽车。这为一些现有的汽车标记创造了一个机会来建立更多的体积。不过，哪家公司会胜出，谁也说不准。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush 分析师丹·艾夫斯 (Dan Ives) 负责研究颠覆性技术，其中包括苹果和电动汽车制造商特斯拉 (TSLA)，他将赌注押在大众汽车 (VOW.Germany) 上。“艾夫斯在最近的一份报告中写道：”我们认为，苹果将在未来 3 到 6 个月内宣布建立电动汽车合作伙伴关系/合作的可能性超过 85%。“我们仍然坚信，鉴于大众汽车的模块化工厂规模以及关键的量子场景所有权，大众汽车是苹果电动汽车合作伙伴/合资企业的首选。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape (QS) 正在开创固态锂阳极电池，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年 12 月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约 26% 和 10%。相比之下，标准普尔 500 指数和道琼斯工业平均指数分别上涨约 5% 和 4%。苹果股价下跌约 6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?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":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165777611","content_text":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.\nPiper tech analystHarsh Kumarsays the timing is right for an Apple (ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.\nApple has so far declined to comment about any car plans recently.\nKumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.\nHe assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.\nFor tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.\nOne factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike WardtellsBarron’s.\nWard says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.\nMorgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.\nHe believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.\nThat threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.\nJ.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.\nThe firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.\nAnother thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.\nWedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”\nQuantumScape (QS) is pioneering solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.\nApple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.\nInvestors, it appears, have other more pressing issues on their minds.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363225756,"gmtCreate":1614144481375,"gmtModify":1634550992947,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Ooo","listText":"Ooo","text":"Ooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363225756","repostId":"2113835326","repostType":4,"repost":{"id":"2113835326","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1614138972,"share":"https://www.laohunote.com/m/news/2113835326?lang=zh_CN&edition=full","pubTime":"2021-02-24 11:56","market":"us","language":"en","title":"The RealReal Missed On Earnings, But Analysts See Hope As Economy Reopens<blockquote>RealReal 未能实现盈利，但随着经济重新开放，分析师看到了希望</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2113835326","media":"Benzinga Earnings","summary":"RealReal Inc (NASDAQ:REAL) shares were trading lower Tuesday after the company reported earnings tha","content":"<p><b>RealReal Inc</b>&nbsp;(NASDAQ:REAL) shares were trading lower Tuesday after the company reported earnings that missed expectations.</p><p><blockquote><b>RealReal公司</b>（纳斯达克股票代码：REAL）该公司公布的盈利低于预期后，周二股价走低。</blockquote></p><p> On Monday, the RealReal&nbsp;reported a fourth-quarter adjusted loss of 49 cents per share, missing the Street estimate by eight cents. The company&nbsp;reported revenue of $84.6 million, down 13.09% compared to the same period last year, missing the Street estimate of $94 million.</p><p><blockquote>周一，RealReal 公布第四季度调整后每股亏损 49 美分，比华尔街预期低 8 美分。该公司报告营收为 8460 万美元，比去年同期下降 13.09%，低于华尔街预期的 9400 万美元。</blockquote></p><p> RealReal saw declining revenues in 2020 brought on by the pandemic but is optimistic it will continue to grow its business as the economy continues to reopen.</p><p><blockquote>受疫情影响，RealReal 在 2020 年收入有所下降，但乐观地认为，随着经济继续重新开放，其业务将继续增长。</blockquote></p><p> “We are seeing encouraging signs of recovery, with December GMV back to growth and quarter-to-date trends even stronger,” Julie Wainwright, founder, CEO and&nbsp;chairperson of the RealReal said on a conference call.</p><p><blockquote>“RealReal 创始人、首席执行官兼董事长 Julie Wainwright 在电话会议上说：”我们看到了令人鼓舞的复苏迹象，12 月份的 GMV 恢复增长，本季度迄今为止的趋势更加强劲。</blockquote></p><p> The luxury consignment store, which has an online and brick-and-mortar footprint, plans to open 10 new stores in 2021.</p><p><blockquote>这家奢侈品寄售店拥有在线和实体业务，计划在2021年开设10家新店。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/REAL\">The RealReal</a>’s Expansion Costs:</b> Although analysts expect the RealReal&nbsp;to improve its revenue growth&nbsp;as it expands its vendors, “We do see higher costs across the board in '21 given: 1) The rollout of 10 neighborhood stores, 2) the opening of the new Arizona authentication center, 3) investments in technology, and 4) increased sales hiring ahead of the expected demand increase,” <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> analyst Lauren Schenk said in a note.</p><p><blockquote><b><a href=\"https://laohu8.com/S/REAL\">真实的</a>扩张成本：</b>尽管分析师预计 RealReal 将随着供应商的扩张而提高收入增长，但 “鉴于以下因素，我们确实认为 21 年的成本将全面上升：1) 推出 10 家社区商店，2) 开设新的亚利桑那州认证中心，3) 对技术的投资，以及 4) 在预期的需求增长之前增加销售招聘，”<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>分析师劳伦·申克在一份报告中表示。</blockquote></p><p> Although Raymond James analyst Aaron Kessler believes the RealReal&nbsp;may struggle in the near-term, due to the high costs of its business expansion plans, he remains positive on the company’s fundamentals long-term.</p><p><blockquote>尽管雷蒙德-詹姆斯（Raymond James）分析师亚伦-凯斯勒（Aaron Kessler）认为，由于业务扩张计划的高昂成本，RealReal 在短期内可能会陷入困境，但他对公司的长期基本面仍然持乐观态度。</blockquote></p><p> “Elevated near-term expenses (new Arizona facility, retail expansion) will likely weigh on street EBITDA estimates though they should position the company for stronger long-term growth and operating leverage,” the analyst said.</p><p><blockquote>“这位分析师说：”近期支出（亚利桑那州新工厂、零售扩张）的增加可能会对 street EBITDA 的预测造成压力，但这应该会使公司拥有更强劲的长期增长和运营杠杆。</blockquote></p><p> <b>The RealReal's Position As The Economy Reopens:</b> “We see REAL as <a href=\"https://laohu8.com/S/AONE\">one</a> of the ecommerce names most levered to the reopening given not only its end market demand (luxury/apparel), but also its supply dynamics,” Schenk said.</p><p><blockquote><b>随着经济重新开放，RealReal 的地位：</b>“我们认为真实<a href=\"https://laohu8.com/S/AONE\">一</a>申克说：“在电子商务公司中，不仅是因为其终端市场需求（奢侈品/服装），还因为其供应动态。”</blockquote></p><p> KeyBanc analyst Edward Yruma sees increased revenue coming from the RealReal&nbsp;planned opening of the new brick-and-mortar stores in 2021.</p><p><blockquote>KeyBanc 分析师 Edward Yruma 预计，RealReal 计划于 2021 年开设的新实体店将带来收入增加。</blockquote></p><p> “Neighborhood stores should serve as effective marketing tools not only for increasing supply, but also for attracting new buyers,” the analyst said</p><p><blockquote>“这位分析师说：”社区商店应该成为有效的营销工具，不仅可以增加供应量，还可以吸引新买家。</blockquote></p><p> Needham analyst Rick Patel believes revenue will accelerate over the next few quarters as customers return to consigning, which will help the RealReal&nbsp;boost its inventory.</p><p><blockquote>Needham 分析师 Rick Patel 认为，随着客户恢复寄售，未来几个季度收入将加速增长，这将有助于 RealReal 增加库存。</blockquote></p><p> “Over the past year, REAL has been more supply constrained than demand constrained. When the pandemic began, supply units were (46%) in April ’20 but are now on an improving trend with 4Q20 units +13%,” the analyst said.</p><p><blockquote>“在过去的一年里，雷亚尔受到的供应限制大于需求限制。这位分析师说：”大流行开始时，20 年 4 月的供应单位为（46%），但现在呈上升趋势，2020年第四季度单位为+13%。</blockquote></p><p> Raymond James analyst Kessler believes the recovery is priced in.</p><p><blockquote>Raymond James 分析师凯斯勒认为，复苏是有代价的。</blockquote></p><p> “While we remain positive on long-term fundamentals (large luxury goods market shifting online, 25% longterm growth outlook, 20%+ long-term EBITDA margins), we believe risk reward is more balanced at current levels,” the analyst said.</p><p><blockquote>“这位分析师说：”虽然我们对长期基本面（大型奢侈品市场转向线上、25% 的长期增长前景、20% 以上的长期 EBITDA 利润率）保持乐观，但我们认为，在目前的水平下，风险回报更加平衡。</blockquote></p><p> <b>The RealReal Ratings, Price Targets:</b>&nbsp;KeyBanc maintained its Overweight rating and price target of $32.</p><p><blockquote><b>RealReal 评级、价格目标：</b>KeyBanc 维持其跑赢大盘评级和 32 美元的目标价。</blockquote></p><p> Morgan Stanley maintained its Equal-weight rating and increased its price target from $17 to $25.</p><p><blockquote>摩根士丹利维持等权重评级，并将目标价从 17 美元上调至 25 美元。</blockquote></p><p> Needham maintained a Hold rating.</p><p><blockquote>李约瑟维持持有评级。</blockquote></p><p> Raymond James downgraded its rating from Outperform to Market Perform and maintained a price target of $17.</p><p><blockquote>Raymond James 将评级从跑赢大盘下调至大盘，并维持 17 美元的目标价。</blockquote></p><p> RealReal's stock closed down 13.32% at $24.82 per share.</p><p><blockquote>RealReal 股价收盘下跌 13.32%，至每股 24.82 美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4b9d9d0ea8ca2f4768fd7d380c08ef7a\" tg-width=\"1051\" tg-height=\"243\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The RealReal Missed On Earnings, But Analysts See Hope As Economy Reopens<blockquote>RealReal 未能实现盈利，但随着经济重新开放，分析师看到了希望</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe RealReal Missed On Earnings, But Analysts See Hope As Economy Reopens<blockquote>RealReal 未能实现盈利，但随着经济重新开放，分析师看到了希望</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-02-24 11:56</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>RealReal Inc</b>&nbsp;(NASDAQ:REAL) shares were trading lower Tuesday after the company reported earnings that missed expectations.</p><p><blockquote><b>RealReal公司</b>（纳斯达克股票代码：REAL）该公司公布的盈利低于预期后，周二股价走低。</blockquote></p><p> On Monday, the RealReal&nbsp;reported a fourth-quarter adjusted loss of 49 cents per share, missing the Street estimate by eight cents. The company&nbsp;reported revenue of $84.6 million, down 13.09% compared to the same period last year, missing the Street estimate of $94 million.</p><p><blockquote>周一，RealReal 公布第四季度调整后每股亏损 49 美分，比华尔街预期低 8 美分。该公司报告营收为 8460 万美元，比去年同期下降 13.09%，低于华尔街预期的 9400 万美元。</blockquote></p><p> RealReal saw declining revenues in 2020 brought on by the pandemic but is optimistic it will continue to grow its business as the economy continues to reopen.</p><p><blockquote>受疫情影响，RealReal 在 2020 年收入有所下降，但乐观地认为，随着经济继续重新开放，其业务将继续增长。</blockquote></p><p> “We are seeing encouraging signs of recovery, with December GMV back to growth and quarter-to-date trends even stronger,” Julie Wainwright, founder, CEO and&nbsp;chairperson of the RealReal said on a conference call.</p><p><blockquote>“RealReal 创始人、首席执行官兼董事长 Julie Wainwright 在电话会议上说：”我们看到了令人鼓舞的复苏迹象，12 月份的 GMV 恢复增长，本季度迄今为止的趋势更加强劲。</blockquote></p><p> The luxury consignment store, which has an online and brick-and-mortar footprint, plans to open 10 new stores in 2021.</p><p><blockquote>这家奢侈品寄售店拥有在线和实体业务，计划在2021年开设10家新店。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/REAL\">The RealReal</a>’s Expansion Costs:</b> Although analysts expect the RealReal&nbsp;to improve its revenue growth&nbsp;as it expands its vendors, “We do see higher costs across the board in '21 given: 1) The rollout of 10 neighborhood stores, 2) the opening of the new Arizona authentication center, 3) investments in technology, and 4) increased sales hiring ahead of the expected demand increase,” <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> analyst Lauren Schenk said in a note.</p><p><blockquote><b><a href=\"https://laohu8.com/S/REAL\">真实的</a>扩张成本：</b>尽管分析师预计 RealReal 将随着供应商的扩张而提高收入增长，但 “鉴于以下因素，我们确实认为 21 年的成本将全面上升：1) 推出 10 家社区商店，2) 开设新的亚利桑那州认证中心，3) 对技术的投资，以及 4) 在预期的需求增长之前增加销售招聘，”<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>分析师劳伦·申克在一份报告中表示。</blockquote></p><p> Although Raymond James analyst Aaron Kessler believes the RealReal&nbsp;may struggle in the near-term, due to the high costs of its business expansion plans, he remains positive on the company’s fundamentals long-term.</p><p><blockquote>尽管雷蒙德-詹姆斯（Raymond James）分析师亚伦-凯斯勒（Aaron Kessler）认为，由于业务扩张计划的高昂成本，RealReal 在短期内可能会陷入困境，但他对公司的长期基本面仍然持乐观态度。</blockquote></p><p> “Elevated near-term expenses (new Arizona facility, retail expansion) will likely weigh on street EBITDA estimates though they should position the company for stronger long-term growth and operating leverage,” the analyst said.</p><p><blockquote>“这位分析师说：”近期支出（亚利桑那州新工厂、零售扩张）的增加可能会对 street EBITDA 的预测造成压力，但这应该会使公司拥有更强劲的长期增长和运营杠杆。</blockquote></p><p> <b>The RealReal's Position As The Economy Reopens:</b> “We see REAL as <a href=\"https://laohu8.com/S/AONE\">one</a> of the ecommerce names most levered to the reopening given not only its end market demand (luxury/apparel), but also its supply dynamics,” Schenk said.</p><p><blockquote><b>随着经济重新开放，RealReal 的地位：</b>“我们认为真实<a href=\"https://laohu8.com/S/AONE\">一</a>申克说：“在电子商务公司中，不仅是因为其终端市场需求（奢侈品/服装），还因为其供应动态。”</blockquote></p><p> KeyBanc analyst Edward Yruma sees increased revenue coming from the RealReal&nbsp;planned opening of the new brick-and-mortar stores in 2021.</p><p><blockquote>KeyBanc 分析师 Edward Yruma 预计，RealReal 计划于 2021 年开设的新实体店将带来收入增加。</blockquote></p><p> “Neighborhood stores should serve as effective marketing tools not only for increasing supply, but also for attracting new buyers,” the analyst said</p><p><blockquote>“这位分析师说：”社区商店应该成为有效的营销工具，不仅可以增加供应量，还可以吸引新买家。</blockquote></p><p> Needham analyst Rick Patel believes revenue will accelerate over the next few quarters as customers return to consigning, which will help the RealReal&nbsp;boost its inventory.</p><p><blockquote>Needham 分析师 Rick Patel 认为，随着客户恢复寄售，未来几个季度收入将加速增长，这将有助于 RealReal 增加库存。</blockquote></p><p> “Over the past year, REAL has been more supply constrained than demand constrained. When the pandemic began, supply units were (46%) in April ’20 but are now on an improving trend with 4Q20 units +13%,” the analyst said.</p><p><blockquote>“在过去的一年里，雷亚尔受到的供应限制大于需求限制。这位分析师说：”大流行开始时，20 年 4 月的供应单位为（46%），但现在呈上升趋势，2020年第四季度单位为+13%。</blockquote></p><p> Raymond James analyst Kessler believes the recovery is priced in.</p><p><blockquote>Raymond James 分析师凯斯勒认为，复苏是有代价的。</blockquote></p><p> “While we remain positive on long-term fundamentals (large luxury goods market shifting online, 25% longterm growth outlook, 20%+ long-term EBITDA margins), we believe risk reward is more balanced at current levels,” the analyst said.</p><p><blockquote>“这位分析师说：”虽然我们对长期基本面（大型奢侈品市场转向线上、25% 的长期增长前景、20% 以上的长期 EBITDA 利润率）保持乐观，但我们认为，在目前的水平下，风险回报更加平衡。</blockquote></p><p> <b>The RealReal Ratings, Price Targets:</b>&nbsp;KeyBanc maintained its Overweight rating and price target of $32.</p><p><blockquote><b>RealReal 评级、价格目标：</b>KeyBanc 维持其跑赢大盘评级和 32 美元的目标价。</blockquote></p><p> Morgan Stanley maintained its Equal-weight rating and increased its price target from $17 to $25.</p><p><blockquote>摩根士丹利维持等权重评级，并将目标价从 17 美元上调至 25 美元。</blockquote></p><p> Needham maintained a Hold rating.</p><p><blockquote>李约瑟维持持有评级。</blockquote></p><p> Raymond James downgraded its rating from Outperform to Market Perform and maintained a price target of $17.</p><p><blockquote>Raymond James 将评级从跑赢大盘下调至大盘，并维持 17 美元的目标价。</blockquote></p><p> RealReal's stock closed down 13.32% at $24.82 per share.</p><p><blockquote>RealReal 股价收盘下跌 13.32%，至每股 24.82 美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4b9d9d0ea8ca2f4768fd7d380c08ef7a\" tg-width=\"1051\" tg-height=\"243\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"REAL":"The RealReal"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2113835326","content_text":"RealReal Inc (NASDAQ:REAL) shares were trading lower Tuesday after the company reported earnings that missed expectations.\nOn Monday, the RealReal reported a fourth-quarter adjusted loss of 49 cents per share, missing the Street estimate by eight cents. The company reported revenue of $84.6 million, down 13.09% compared to the same period last year, missing the Street estimate of $94 million.\nRealReal saw declining revenues in 2020 brought on by the pandemic but is optimistic it will continue to grow its business as the economy continues to reopen.\n“We are seeing encouraging signs of recovery, with December GMV back to growth and quarter-to-date trends even stronger,” Julie Wainwright, founder, CEO and chairperson of the RealReal said on a conference call.\nThe luxury consignment store, which has an online and brick-and-mortar footprint, plans to open 10 new stores in 2021.\nThe RealReal’s Expansion Costs: Although analysts expect the RealReal to improve its revenue growth as it expands its vendors, “We do see higher costs across the board in '21 given: 1) The rollout of 10 neighborhood stores, 2) the opening of the new Arizona authentication center, 3) investments in technology, and 4) increased sales hiring ahead of the expected demand increase,” Morgan Stanley analyst Lauren Schenk said in a note.\nAlthough Raymond James analyst Aaron Kessler believes the RealReal may struggle in the near-term, due to the high costs of its business expansion plans, he remains positive on the company’s fundamentals long-term.\n“Elevated near-term expenses (new Arizona facility, retail expansion) will likely weigh on street EBITDA estimates though they should position the company for stronger long-term growth and operating leverage,” the analyst said.\nThe RealReal's Position As The Economy Reopens: “We see REAL as one of the ecommerce names most levered to the reopening given not only its end market demand (luxury/apparel), but also its supply dynamics,” Schenk said.\nKeyBanc analyst Edward Yruma sees increased revenue coming from the RealReal planned opening of the new brick-and-mortar stores in 2021.\n“Neighborhood stores should serve as effective marketing tools not only for increasing supply, but also for attracting new buyers,” the analyst said\nNeedham analyst Rick Patel believes revenue will accelerate over the next few quarters as customers return to consigning, which will help the RealReal boost its inventory.\n“Over the past year, REAL has been more supply constrained than demand constrained. When the pandemic began, supply units were (46%) in April ’20 but are now on an improving trend with 4Q20 units +13%,” the analyst said.\nRaymond James analyst Kessler believes the recovery is priced in.\n“While we remain positive on long-term fundamentals (large luxury goods market shifting online, 25% longterm growth outlook, 20%+ long-term EBITDA margins), we believe risk reward is more balanced at current levels,” the analyst said.\nThe RealReal Ratings, Price Targets: KeyBanc maintained its Overweight rating and price target of $32.\nMorgan Stanley maintained its Equal-weight rating and increased its price target from $17 to $25.\nNeedham maintained a Hold rating.\nRaymond James downgraded its rating from Outperform to Market Perform and maintained a price target of $17.\nRealReal's stock closed down 13.32% at $24.82 per share.","news_type":1,"symbols_score_info":{"REAL":0.9}},"isVote":1,"tweetType":1,"viewCount":437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363234800,"gmtCreate":1614140980100,"gmtModify":1634551011699,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363234800","repostId":"2113835326","repostType":4,"repost":{"id":"2113835326","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1614138972,"share":"https://www.laohunote.com/m/news/2113835326?lang=zh_CN&edition=full","pubTime":"2021-02-24 11:56","market":"us","language":"en","title":"The RealReal Missed On Earnings, But Analysts See Hope As Economy Reopens<blockquote>RealReal 未能实现盈利，但随着经济重新开放，分析师看到了希望</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2113835326","media":"Benzinga Earnings","summary":"RealReal Inc (NASDAQ:REAL) shares were trading lower Tuesday after the company reported earnings tha","content":"<p><b>RealReal Inc</b>&nbsp;(NASDAQ:REAL) shares were trading lower Tuesday after the company reported earnings that missed expectations.</p><p><blockquote><b>RealReal公司</b>（纳斯达克股票代码：REAL）该公司公布的盈利低于预期后，周二股价走低。</blockquote></p><p> On Monday, the RealReal&nbsp;reported a fourth-quarter adjusted loss of 49 cents per share, missing the Street estimate by eight cents. The company&nbsp;reported revenue of $84.6 million, down 13.09% compared to the same period last year, missing the Street estimate of $94 million.</p><p><blockquote>周一，RealReal 公布第四季度调整后每股亏损 49 美分，比华尔街预期低 8 美分。该公司报告营收为 8460 万美元，比去年同期下降 13.09%，低于华尔街预期的 9400 万美元。</blockquote></p><p> RealReal saw declining revenues in 2020 brought on by the pandemic but is optimistic it will continue to grow its business as the economy continues to reopen.</p><p><blockquote>受疫情影响，RealReal 在 2020 年收入有所下降，但乐观地认为，随着经济继续重新开放，其业务将继续增长。</blockquote></p><p> “We are seeing encouraging signs of recovery, with December GMV back to growth and quarter-to-date trends even stronger,” Julie Wainwright, founder, CEO and&nbsp;chairperson of the RealReal said on a conference call.</p><p><blockquote>“RealReal 创始人、首席执行官兼董事长 Julie Wainwright 在电话会议上说：”我们看到了令人鼓舞的复苏迹象，12 月份的 GMV 恢复增长，本季度迄今为止的趋势更加强劲。</blockquote></p><p> The luxury consignment store, which has an online and brick-and-mortar footprint, plans to open 10 new stores in 2021.</p><p><blockquote>这家奢侈品寄售店拥有在线和实体业务，计划在2021年开设10家新店。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/REAL\">The RealReal</a>’s Expansion Costs:</b> Although analysts expect the RealReal&nbsp;to improve its revenue growth&nbsp;as it expands its vendors, “We do see higher costs across the board in '21 given: 1) The rollout of 10 neighborhood stores, 2) the opening of the new Arizona authentication center, 3) investments in technology, and 4) increased sales hiring ahead of the expected demand increase,” <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> analyst Lauren Schenk said in a note.</p><p><blockquote><b><a href=\"https://laohu8.com/S/REAL\">真实的</a>扩张成本：</b>尽管分析师预计 RealReal 将随着供应商的扩张而提高收入增长，但 “鉴于以下因素，我们确实认为 21 年的成本将全面上升：1) 推出 10 家社区商店，2) 开设新的亚利桑那州认证中心，3) 对技术的投资，以及 4) 在预期的需求增长之前增加销售招聘，”<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>分析师劳伦·申克在一份报告中表示。</blockquote></p><p> Although Raymond James analyst Aaron Kessler believes the RealReal&nbsp;may struggle in the near-term, due to the high costs of its business expansion plans, he remains positive on the company’s fundamentals long-term.</p><p><blockquote>尽管雷蒙德-詹姆斯（Raymond James）分析师亚伦-凯斯勒（Aaron Kessler）认为，由于业务扩张计划的高昂成本，RealReal 在短期内可能会陷入困境，但他对公司的长期基本面仍然持乐观态度。</blockquote></p><p> “Elevated near-term expenses (new Arizona facility, retail expansion) will likely weigh on street EBITDA estimates though they should position the company for stronger long-term growth and operating leverage,” the analyst said.</p><p><blockquote>“这位分析师说：”近期支出（亚利桑那州新工厂、零售扩张）的增加可能会对 street EBITDA 的预测造成压力，但这应该会使公司拥有更强劲的长期增长和运营杠杆。</blockquote></p><p> <b>The RealReal's Position As The Economy Reopens:</b> “We see REAL as <a href=\"https://laohu8.com/S/AONE\">one</a> of the ecommerce names most levered to the reopening given not only its end market demand (luxury/apparel), but also its supply dynamics,” Schenk said.</p><p><blockquote><b>随着经济重新开放，RealReal 的地位：</b>“我们认为真实<a href=\"https://laohu8.com/S/AONE\">一</a>申克说：“在电子商务公司中，不仅是因为其终端市场需求（奢侈品/服装），还因为其供应动态。”</blockquote></p><p> KeyBanc analyst Edward Yruma sees increased revenue coming from the RealReal&nbsp;planned opening of the new brick-and-mortar stores in 2021.</p><p><blockquote>KeyBanc 分析师 Edward Yruma 预计，RealReal 计划于 2021 年开设的新实体店将带来收入增加。</blockquote></p><p> “Neighborhood stores should serve as effective marketing tools not only for increasing supply, but also for attracting new buyers,” the analyst said</p><p><blockquote>“这位分析师说：”社区商店应该成为有效的营销工具，不仅可以增加供应量，还可以吸引新买家。</blockquote></p><p> Needham analyst Rick Patel believes revenue will accelerate over the next few quarters as customers return to consigning, which will help the RealReal&nbsp;boost its inventory.</p><p><blockquote>Needham 分析师 Rick Patel 认为，随着客户恢复寄售，未来几个季度收入将加速增长，这将有助于 RealReal 增加库存。</blockquote></p><p> “Over the past year, REAL has been more supply constrained than demand constrained. When the pandemic began, supply units were (46%) in April ’20 but are now on an improving trend with 4Q20 units +13%,” the analyst said.</p><p><blockquote>“在过去的一年里，雷亚尔受到的供应限制大于需求限制。这位分析师说：”大流行开始时，20 年 4 月的供应单位为（46%），但现在呈上升趋势，2020年第四季度单位为+13%。</blockquote></p><p> Raymond James analyst Kessler believes the recovery is priced in.</p><p><blockquote>Raymond James 分析师凯斯勒认为，复苏是有代价的。</blockquote></p><p> “While we remain positive on long-term fundamentals (large luxury goods market shifting online, 25% longterm growth outlook, 20%+ long-term EBITDA margins), we believe risk reward is more balanced at current levels,” the analyst said.</p><p><blockquote>“这位分析师说：”虽然我们对长期基本面（大型奢侈品市场转向线上、25% 的长期增长前景、20% 以上的长期 EBITDA 利润率）保持乐观，但我们认为，在目前的水平下，风险回报更加平衡。</blockquote></p><p> <b>The RealReal Ratings, Price Targets:</b>&nbsp;KeyBanc maintained its Overweight rating and price target of $32.</p><p><blockquote><b>RealReal 评级、价格目标：</b>KeyBanc 维持其跑赢大盘评级和 32 美元的目标价。</blockquote></p><p> Morgan Stanley maintained its Equal-weight rating and increased its price target from $17 to $25.</p><p><blockquote>摩根士丹利维持等权重评级，并将目标价从 17 美元上调至 25 美元。</blockquote></p><p> Needham maintained a Hold rating.</p><p><blockquote>李约瑟维持持有评级。</blockquote></p><p> Raymond James downgraded its rating from Outperform to Market Perform and maintained a price target of $17.</p><p><blockquote>Raymond James 将评级从跑赢大盘下调至大盘，并维持 17 美元的目标价。</blockquote></p><p> RealReal's stock closed down 13.32% at $24.82 per share.</p><p><blockquote>RealReal 股价收盘下跌 13.32%，至每股 24.82 美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4b9d9d0ea8ca2f4768fd7d380c08ef7a\" tg-width=\"1051\" tg-height=\"243\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The RealReal Missed On Earnings, But Analysts See Hope As Economy Reopens<blockquote>RealReal 未能实现盈利，但随着经济重新开放，分析师看到了希望</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe RealReal Missed On Earnings, But Analysts See Hope As Economy Reopens<blockquote>RealReal 未能实现盈利，但随着经济重新开放，分析师看到了希望</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-02-24 11:56</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>RealReal Inc</b>&nbsp;(NASDAQ:REAL) shares were trading lower Tuesday after the company reported earnings that missed expectations.</p><p><blockquote><b>RealReal公司</b>（纳斯达克股票代码：REAL）该公司公布的盈利低于预期后，周二股价走低。</blockquote></p><p> On Monday, the RealReal&nbsp;reported a fourth-quarter adjusted loss of 49 cents per share, missing the Street estimate by eight cents. The company&nbsp;reported revenue of $84.6 million, down 13.09% compared to the same period last year, missing the Street estimate of $94 million.</p><p><blockquote>周一，RealReal 公布第四季度调整后每股亏损 49 美分，比华尔街预期低 8 美分。该公司报告营收为 8460 万美元，比去年同期下降 13.09%，低于华尔街预期的 9400 万美元。</blockquote></p><p> RealReal saw declining revenues in 2020 brought on by the pandemic but is optimistic it will continue to grow its business as the economy continues to reopen.</p><p><blockquote>受疫情影响，RealReal 在 2020 年收入有所下降，但乐观地认为，随着经济继续重新开放，其业务将继续增长。</blockquote></p><p> “We are seeing encouraging signs of recovery, with December GMV back to growth and quarter-to-date trends even stronger,” Julie Wainwright, founder, CEO and&nbsp;chairperson of the RealReal said on a conference call.</p><p><blockquote>“RealReal 创始人、首席执行官兼董事长 Julie Wainwright 在电话会议上说：”我们看到了令人鼓舞的复苏迹象，12 月份的 GMV 恢复增长，本季度迄今为止的趋势更加强劲。</blockquote></p><p> The luxury consignment store, which has an online and brick-and-mortar footprint, plans to open 10 new stores in 2021.</p><p><blockquote>这家奢侈品寄售店拥有在线和实体业务，计划在2021年开设10家新店。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/REAL\">The RealReal</a>’s Expansion Costs:</b> Although analysts expect the RealReal&nbsp;to improve its revenue growth&nbsp;as it expands its vendors, “We do see higher costs across the board in '21 given: 1) The rollout of 10 neighborhood stores, 2) the opening of the new Arizona authentication center, 3) investments in technology, and 4) increased sales hiring ahead of the expected demand increase,” <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> analyst Lauren Schenk said in a note.</p><p><blockquote><b><a href=\"https://laohu8.com/S/REAL\">真实的</a>扩张成本：</b>尽管分析师预计 RealReal 将随着供应商的扩张而提高收入增长，但 “鉴于以下因素，我们确实认为 21 年的成本将全面上升：1) 推出 10 家社区商店，2) 开设新的亚利桑那州认证中心，3) 对技术的投资，以及 4) 在预期的需求增长之前增加销售招聘，”<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>分析师劳伦·申克在一份报告中表示。</blockquote></p><p> Although Raymond James analyst Aaron Kessler believes the RealReal&nbsp;may struggle in the near-term, due to the high costs of its business expansion plans, he remains positive on the company’s fundamentals long-term.</p><p><blockquote>尽管雷蒙德-詹姆斯（Raymond James）分析师亚伦-凯斯勒（Aaron Kessler）认为，由于业务扩张计划的高昂成本，RealReal 在短期内可能会陷入困境，但他对公司的长期基本面仍然持乐观态度。</blockquote></p><p> “Elevated near-term expenses (new Arizona facility, retail expansion) will likely weigh on street EBITDA estimates though they should position the company for stronger long-term growth and operating leverage,” the analyst said.</p><p><blockquote>“这位分析师说：”近期支出（亚利桑那州新工厂、零售扩张）的增加可能会对 street EBITDA 的预测造成压力，但这应该会使公司拥有更强劲的长期增长和运营杠杆。</blockquote></p><p> <b>The RealReal's Position As The Economy Reopens:</b> “We see REAL as <a href=\"https://laohu8.com/S/AONE\">one</a> of the ecommerce names most levered to the reopening given not only its end market demand (luxury/apparel), but also its supply dynamics,” Schenk said.</p><p><blockquote><b>随着经济重新开放，RealReal 的地位：</b>“我们认为真实<a href=\"https://laohu8.com/S/AONE\">一</a>申克说：“在电子商务公司中，不仅是因为其终端市场需求（奢侈品/服装），还因为其供应动态。”</blockquote></p><p> KeyBanc analyst Edward Yruma sees increased revenue coming from the RealReal&nbsp;planned opening of the new brick-and-mortar stores in 2021.</p><p><blockquote>KeyBanc 分析师 Edward Yruma 预计，RealReal 计划于 2021 年开设的新实体店将带来收入增加。</blockquote></p><p> “Neighborhood stores should serve as effective marketing tools not only for increasing supply, but also for attracting new buyers,” the analyst said</p><p><blockquote>“这位分析师说：”社区商店应该成为有效的营销工具，不仅可以增加供应量，还可以吸引新买家。</blockquote></p><p> Needham analyst Rick Patel believes revenue will accelerate over the next few quarters as customers return to consigning, which will help the RealReal&nbsp;boost its inventory.</p><p><blockquote>Needham 分析师 Rick Patel 认为，随着客户恢复寄售，未来几个季度收入将加速增长，这将有助于 RealReal 增加库存。</blockquote></p><p> “Over the past year, REAL has been more supply constrained than demand constrained. When the pandemic began, supply units were (46%) in April ’20 but are now on an improving trend with 4Q20 units +13%,” the analyst said.</p><p><blockquote>“在过去的一年里，雷亚尔受到的供应限制大于需求限制。这位分析师说：”大流行开始时，20 年 4 月的供应单位为（46%），但现在呈上升趋势，2020年第四季度单位为+13%。</blockquote></p><p> Raymond James analyst Kessler believes the recovery is priced in.</p><p><blockquote>Raymond James 分析师凯斯勒认为，复苏是有代价的。</blockquote></p><p> “While we remain positive on long-term fundamentals (large luxury goods market shifting online, 25% longterm growth outlook, 20%+ long-term EBITDA margins), we believe risk reward is more balanced at current levels,” the analyst said.</p><p><blockquote>“这位分析师说：”虽然我们对长期基本面（大型奢侈品市场转向线上、25% 的长期增长前景、20% 以上的长期 EBITDA 利润率）保持乐观，但我们认为，在目前的水平下，风险回报更加平衡。</blockquote></p><p> <b>The RealReal Ratings, Price Targets:</b>&nbsp;KeyBanc maintained its Overweight rating and price target of $32.</p><p><blockquote><b>RealReal 评级、价格目标：</b>KeyBanc 维持其跑赢大盘评级和 32 美元的目标价。</blockquote></p><p> Morgan Stanley maintained its Equal-weight rating and increased its price target from $17 to $25.</p><p><blockquote>摩根士丹利维持等权重评级，并将目标价从 17 美元上调至 25 美元。</blockquote></p><p> Needham maintained a Hold rating.</p><p><blockquote>李约瑟维持持有评级。</blockquote></p><p> Raymond James downgraded its rating from Outperform to Market Perform and maintained a price target of $17.</p><p><blockquote>Raymond James 将评级从跑赢大盘下调至大盘，并维持 17 美元的目标价。</blockquote></p><p> RealReal's stock closed down 13.32% at $24.82 per share.</p><p><blockquote>RealReal 股价收盘下跌 13.32%，至每股 24.82 美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4b9d9d0ea8ca2f4768fd7d380c08ef7a\" tg-width=\"1051\" tg-height=\"243\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"REAL":"The RealReal"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2113835326","content_text":"RealReal Inc (NASDAQ:REAL) shares were trading lower Tuesday after the company reported earnings that missed expectations.\nOn Monday, the RealReal reported a fourth-quarter adjusted loss of 49 cents per share, missing the Street estimate by eight cents. The company reported revenue of $84.6 million, down 13.09% compared to the same period last year, missing the Street estimate of $94 million.\nRealReal saw declining revenues in 2020 brought on by the pandemic but is optimistic it will continue to grow its business as the economy continues to reopen.\n“We are seeing encouraging signs of recovery, with December GMV back to growth and quarter-to-date trends even stronger,” Julie Wainwright, founder, CEO and chairperson of the RealReal said on a conference call.\nThe luxury consignment store, which has an online and brick-and-mortar footprint, plans to open 10 new stores in 2021.\nThe RealReal’s Expansion Costs: Although analysts expect the RealReal to improve its revenue growth as it expands its vendors, “We do see higher costs across the board in '21 given: 1) The rollout of 10 neighborhood stores, 2) the opening of the new Arizona authentication center, 3) investments in technology, and 4) increased sales hiring ahead of the expected demand increase,” Morgan Stanley analyst Lauren Schenk said in a note.\nAlthough Raymond James analyst Aaron Kessler believes the RealReal may struggle in the near-term, due to the high costs of its business expansion plans, he remains positive on the company’s fundamentals long-term.\n“Elevated near-term expenses (new Arizona facility, retail expansion) will likely weigh on street EBITDA estimates though they should position the company for stronger long-term growth and operating leverage,” the analyst said.\nThe RealReal's Position As The Economy Reopens: “We see REAL as one of the ecommerce names most levered to the reopening given not only its end market demand (luxury/apparel), but also its supply dynamics,” Schenk said.\nKeyBanc analyst Edward Yruma sees increased revenue coming from the RealReal planned opening of the new brick-and-mortar stores in 2021.\n“Neighborhood stores should serve as effective marketing tools not only for increasing supply, but also for attracting new buyers,” the analyst said\nNeedham analyst Rick Patel believes revenue will accelerate over the next few quarters as customers return to consigning, which will help the RealReal boost its inventory.\n“Over the past year, REAL has been more supply constrained than demand constrained. When the pandemic began, supply units were (46%) in April ’20 but are now on an improving trend with 4Q20 units +13%,” the analyst said.\nRaymond James analyst Kessler believes the recovery is priced in.\n“While we remain positive on long-term fundamentals (large luxury goods market shifting online, 25% longterm growth outlook, 20%+ long-term EBITDA margins), we believe risk reward is more balanced at current levels,” the analyst said.\nThe RealReal Ratings, Price Targets: KeyBanc maintained its Overweight rating and price target of $32.\nMorgan Stanley maintained its Equal-weight rating and increased its price target from $17 to $25.\nNeedham maintained a Hold rating.\nRaymond James downgraded its rating from Outperform to Market Perform and maintained a price target of $17.\nRealReal's stock closed down 13.32% at $24.82 per share.","news_type":1,"symbols_score_info":{"REAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1046,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363234087,"gmtCreate":1614140926349,"gmtModify":1634551011819,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363234087","repostId":"1185609211","repostType":4,"repost":{"id":"1185609211","kind":"news","pubTimestamp":1614139419,"share":"https://www.laohunote.com/m/news/1185609211?lang=zh_CN&edition=full","pubTime":"2021-02-24 12:03","market":"us","language":"en","title":"Why the Plunge in More Speculative Tech Stocks Might Not Be Over Yet<blockquote>为什么更具投机性的科技股的暴跌可能尚未结束</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185609211","media":"TheStreet","summary":"High valuations, margin debt and the ARK effect could lead to more pain for some names. But the sell","content":"<p>High valuations, margin debt and the ARK effect could lead to more pain for some names. But the selloff could also create buying opportunities in other tech companies.</p><p><blockquote>高估值、保证金债务和方舟效应可能会给一些公司带来更多痛苦。但此次抛售也可能为其他科技公司创造买入机会。</blockquote></p><p> While many speculative Robinhood favorites are down sharply over the last couple of weeks, they're still often well above where they traded two or three months ago, and arguably remain&nbsp;quite overvalued on the whole.</p><p><blockquote>虽然许多投机性的 Robinhood 最喜欢的股票在过去几周大幅下跌，但它们通常仍然远高于两三个月前的交易价格，而且总体上可以说仍然被高估了。</blockquote></p><p> For example, while fuel cell plays Plug Power (PLUG) , FuelCell Energy (FCEL) and Ballard Power&nbsp; (BLDP) are now down 40%, 44% and 32%, respectively, from recently-set highs, they're still 67%, 92% and 33% from where they closed three months ago. And they each still sport forward sales multiples north of 40.</p><p><blockquote>例如，虽然 fuel cell plays 普拉格能源 (PLUG)、FuelCell Energy (FCEL) 和 Ballard Power (BLDP) 目前较最近创下的高点分别下跌了 40%、44% 和 32%，但仍较三个月前收盘价下跌 67%、92% 和 33%。它们的远期销售倍数仍然超过 40。</blockquote></p><p> Likewise, 3D printing plays 3D Systems (DDD) , Stratasys&nbsp; (SSYS) and ExOne&nbsp; (XONE) remain up 357%, 147% and 215%, respectively, over the last three months. EV plays QuantumScape&nbsp; (QS) and Luminar Technologies (LAZR) &nbsp;are up 150% and 123%,&nbsp;respectively, over the last three months and still sport sky-high valuations -- QuantumScape, which doesn't expect to see its solid-state battery enter production until 2024, is still worth $20 billion. And soon-to-merge cannabis plays Tilray (TLRY) and Aphria (APHA) are up 252% and 171%,&nbsp;respectively, and maintain double-digit forward sales multiples.</p><p><blockquote>同样，3D printing plays 3D Systems (DDD)、Stratasys (SSYS) 和 ExOne (XONE) 在过去三个月中分别上涨了 357%、147% 和 215%。EV plays QuantumScape (QS) 和 Luminar Technologies (LAZR) 在过去三个月中分别上涨了 150% 和 123%，但估值仍然很高——QuantumScape 预计其固态电池要到 2024 年才能投入生产，仍价值 200 亿美元。即将合并的大麻公司 Tilray (TLRY) 和 Aphria (APHA) 的股价分别上涨了 252% 和 171%，并保持两位数的远期销售倍数。</blockquote></p><p> In a nutshell, valuations are still generally stretched for some companies, and some investors still have large paper profits that they could turn into real profits if the current selling unnerves them. In addition, judging bythe spike seenin margin debt balances over the last few months, many newer investors in these companies could be forced to unload their positions due to margin calls if the selling continues.</p><p><blockquote>简而言之，一些公司的估值仍然普遍过高，一些投资者仍然拥有大量的账面利润，如果当前的抛售让他们感到不安，他们可以将这些利润转化为实际利润。此外，从过去几个月保证金债务余额的激增来看，如果抛售继续下去，这些公司的许多新投资者可能会因保证金评级而被迫平仓。</blockquote></p><p> Also, asothers&nbsp;have pointed out, ARK Invest's trading activity could go from being a tailwind for various high-multiple tech stocks to a headwind. In recent months, giant retail investor inflows for the ARK Innovation ETF (ARKK) and other ARK funds have contributed to the&nbsp;huge rallies seen in various clean energy, 3D printing, software/cloud and biotech names that ARK has been partial to. Conversely, though, major outflows for ARK funds could make the selling pressure in such names during a selloff stronger than it otherwise would be.</p><p><blockquote>此外，还有人指出，方舟投资的交易活动可能会从各种高倍数科技股的顺风变成逆风。近几个月来，大量散户投资者涌入 ARK Innovation ETF (ARKK) 和其他 ARK 基金，推动了 ARK 参与的各种清洁能源、3D 打印、软件/云和生物技术股票的大幅上涨。然而，相反，ARK 基金的大量资金流出可能会使此类股票在抛售期间的抛售压力比其他情况下更大。</blockquote></p><p> With all that said,I'm not sold at this point&nbsp;on the current selloff being the start of a bear market for tech stocks overall.</p><p><blockquote>综上所述， 鉴于当前的抛售是科技股整体熊市的开始， 我目前并不卖出。</blockquote></p><p> In spite of the speculative frenzy in some corners of tech, quite a few quality tech names remain moderately-valued or just a little expensive right now. And between vaccine rollouts, elevated household savings levels and the likely arrival of additional stimulus in March, the macro backdrop still looks favorable, though it's possible that some stay-at-home plays see demand cool off a bit in the coming months.</p><p><blockquote>尽管科技界的某些角落出现了投机狂热，但目前相当多的优质科技股仍然估值适中，或者只是有点贵。在疫苗推出、家庭储蓄水平提高以及 3 月份可能出台额外刺激措施之间，宏观背景看起来仍然有利，尽管未来几个月一些居家游戏的需求可能会有所降温。</blockquote></p><p> <i>Eventually</i>, inflation, higher bond yields and a tightening Fed could become a problem for tech stocks in general. But we still appear to be a ways away from reaching that point, and for now, the Fed&nbsp;remains as accommodative as ever.</p><p><blockquote><i>最终</i>通货膨胀、债券收益率上升和美联储紧缩政策可能会成为科技股普遍面临的问题。但我们似乎距离达到这一点还有一段距离，目前，美联储仍然一如既往地宽松。</blockquote></p><p> As a result, if the current tech rout continues and leads both very expensive and not-so-expensive companies to see more selling pressure, the risk/reward could start looking very good for some of the&nbsp;more reasonably-priced names.</p><p><blockquote>因此，如果当前的技术溃败继续下去，并导致非常昂贵和不那么昂贵的公司看到更多的抛售压力，对于一些定价更合理的公司来说，风险/回报可能会开始看起来非常好。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why the Plunge in More Speculative Tech Stocks Might Not Be Over Yet<blockquote>为什么更具投机性的科技股的暴跌可能尚未结束</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\">\nWhy the Plunge in More Speculative Tech Stocks Might Not Be Over Yet<blockquote>为什么更具投机性的科技股的暴跌可能尚未结束</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-02-24 12:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>High valuations, margin debt and the ARK effect could lead to more pain for some names. But the selloff could also create buying opportunities in other tech companies.</p><p><blockquote>高估值、保证金债务和方舟效应可能会给一些公司带来更多痛苦。但此次抛售也可能为其他科技公司创造买入机会。</blockquote></p><p> While many speculative Robinhood favorites are down sharply over the last couple of weeks, they're still often well above where they traded two or three months ago, and arguably remain&nbsp;quite overvalued on the whole.</p><p><blockquote>虽然许多投机性的 Robinhood 最喜欢的股票在过去几周大幅下跌，但它们通常仍然远高于两三个月前的交易价格，而且总体上可以说仍然被高估了。</blockquote></p><p> For example, while fuel cell plays Plug Power (PLUG) , FuelCell Energy (FCEL) and Ballard Power&nbsp; (BLDP) are now down 40%, 44% and 32%, respectively, from recently-set highs, they're still 67%, 92% and 33% from where they closed three months ago. And they each still sport forward sales multiples north of 40.</p><p><blockquote>例如，虽然 fuel cell plays 普拉格能源 (PLUG)、FuelCell Energy (FCEL) 和 Ballard Power (BLDP) 目前较最近创下的高点分别下跌了 40%、44% 和 32%，但仍较三个月前收盘价下跌 67%、92% 和 33%。它们的远期销售倍数仍然超过 40。</blockquote></p><p> Likewise, 3D printing plays 3D Systems (DDD) , Stratasys&nbsp; (SSYS) and ExOne&nbsp; (XONE) remain up 357%, 147% and 215%, respectively, over the last three months. EV plays QuantumScape&nbsp; (QS) and Luminar Technologies (LAZR) &nbsp;are up 150% and 123%,&nbsp;respectively, over the last three months and still sport sky-high valuations -- QuantumScape, which doesn't expect to see its solid-state battery enter production until 2024, is still worth $20 billion. And soon-to-merge cannabis plays Tilray (TLRY) and Aphria (APHA) are up 252% and 171%,&nbsp;respectively, and maintain double-digit forward sales multiples.</p><p><blockquote>同样，3D printing plays 3D Systems (DDD)、Stratasys (SSYS) 和 ExOne (XONE) 在过去三个月中分别上涨了 357%、147% 和 215%。EV plays QuantumScape (QS) 和 Luminar Technologies (LAZR) 在过去三个月中分别上涨了 150% 和 123%，但估值仍然很高——QuantumScape 预计其固态电池要到 2024 年才能投入生产，仍价值 200 亿美元。即将合并的大麻公司 Tilray (TLRY) 和 Aphria (APHA) 的股价分别上涨了 252% 和 171%，并保持两位数的远期销售倍数。</blockquote></p><p> In a nutshell, valuations are still generally stretched for some companies, and some investors still have large paper profits that they could turn into real profits if the current selling unnerves them. In addition, judging bythe spike seenin margin debt balances over the last few months, many newer investors in these companies could be forced to unload their positions due to margin calls if the selling continues.</p><p><blockquote>简而言之，一些公司的估值仍然普遍过高，一些投资者仍然拥有大量的账面利润，如果当前的抛售让他们感到不安，他们可以将这些利润转化为实际利润。此外，从过去几个月保证金债务余额的激增来看，如果抛售继续下去，这些公司的许多新投资者可能会因保证金评级而被迫平仓。</blockquote></p><p> Also, asothers&nbsp;have pointed out, ARK Invest's trading activity could go from being a tailwind for various high-multiple tech stocks to a headwind. In recent months, giant retail investor inflows for the ARK Innovation ETF (ARKK) and other ARK funds have contributed to the&nbsp;huge rallies seen in various clean energy, 3D printing, software/cloud and biotech names that ARK has been partial to. Conversely, though, major outflows for ARK funds could make the selling pressure in such names during a selloff stronger than it otherwise would be.</p><p><blockquote>此外，还有人指出，方舟投资的交易活动可能会从各种高倍数科技股的顺风变成逆风。近几个月来，大量散户投资者涌入 ARK Innovation ETF (ARKK) 和其他 ARK 基金，推动了 ARK 参与的各种清洁能源、3D 打印、软件/云和生物技术股票的大幅上涨。然而，相反，ARK 基金的大量资金流出可能会使此类股票在抛售期间的抛售压力比其他情况下更大。</blockquote></p><p> With all that said,I'm not sold at this point&nbsp;on the current selloff being the start of a bear market for tech stocks overall.</p><p><blockquote>综上所述， 鉴于当前的抛售是科技股整体熊市的开始， 我目前并不卖出。</blockquote></p><p> In spite of the speculative frenzy in some corners of tech, quite a few quality tech names remain moderately-valued or just a little expensive right now. And between vaccine rollouts, elevated household savings levels and the likely arrival of additional stimulus in March, the macro backdrop still looks favorable, though it's possible that some stay-at-home plays see demand cool off a bit in the coming months.</p><p><blockquote>尽管科技界的某些角落出现了投机狂热，但目前相当多的优质科技股仍然估值适中，或者只是有点贵。在疫苗推出、家庭储蓄水平提高以及 3 月份可能出台额外刺激措施之间，宏观背景看起来仍然有利，尽管未来几个月一些居家游戏的需求可能会有所降温。</blockquote></p><p> <i>Eventually</i>, inflation, higher bond yields and a tightening Fed could become a problem for tech stocks in general. But we still appear to be a ways away from reaching that point, and for now, the Fed&nbsp;remains as accommodative as ever.</p><p><blockquote><i>最终</i>通货膨胀、债券收益率上升和美联储紧缩政策可能会成为科技股普遍面临的问题。但我们似乎距离达到这一点还有一段距离，目前，美联储仍然一如既往地宽松。</blockquote></p><p> As a result, if the current tech rout continues and leads both very expensive and not-so-expensive companies to see more selling pressure, the risk/reward could start looking very good for some of the&nbsp;more reasonably-priced names.</p><p><blockquote>因此，如果当前的技术溃败继续下去，并导致非常昂贵和不那么昂贵的公司看到更多的抛售压力，对于一些定价更合理的公司来说，风险/回报可能会开始看起来非常好。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://realmoney.thestreet.com/investing/technology/why-the-plunge-in-more-speculative-tech-stocks-might-not-be-over-yet-15575838\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLUG":"普拉格能源","SSYS":"Stratasys","DDD":"3D系统","ARKK":"ARK Innovation ETF","BLDP":"巴拉德动力系统","APHA":"Aphria Inc.","FCEL":"燃料电池能源","QS":"Quantumscape Corp.","XONE":"BondBloxx Bloomberg One Year Target Duration US Treasury ETF","TLRY":"Tilray Inc.","LAZR":"Tema Photonics & Optical ETF"},"source_url":"https://realmoney.thestreet.com/investing/technology/why-the-plunge-in-more-speculative-tech-stocks-might-not-be-over-yet-15575838","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185609211","content_text":"High valuations, margin debt and the ARK effect could lead to more pain for some names. But the selloff could also create buying opportunities in other tech companies.\nWhile many speculative Robinhood favorites are down sharply over the last couple of weeks, they're still often well above where they traded two or three months ago, and arguably remain quite overvalued on the whole.\nFor example, while fuel cell plays Plug Power (PLUG) , FuelCell Energy (FCEL) and Ballard Power  (BLDP) are now down 40%, 44% and 32%, respectively, from recently-set highs, they're still 67%, 92% and 33% from where they closed three months ago. And they each still sport forward sales multiples north of 40.\nLikewise, 3D printing plays 3D Systems (DDD) , Stratasys  (SSYS) and ExOne  (XONE) remain up 357%, 147% and 215%, respectively, over the last three months. EV plays QuantumScape  (QS) and Luminar Technologies (LAZR)  are up 150% and 123%, respectively, over the last three months and still sport sky-high valuations -- QuantumScape, which doesn't expect to see its solid-state battery enter production until 2024, is still worth $20 billion. And soon-to-merge cannabis plays Tilray (TLRY) and Aphria (APHA) are up 252% and 171%, respectively, and maintain double-digit forward sales multiples.\nIn a nutshell, valuations are still generally stretched for some companies, and some investors still have large paper profits that they could turn into real profits if the current selling unnerves them. In addition, judging bythe spike seenin margin debt balances over the last few months, many newer investors in these companies could be forced to unload their positions due to margin calls if the selling continues.\nAlso, asothers have pointed out, ARK Invest's trading activity could go from being a tailwind for various high-multiple tech stocks to a headwind. In recent months, giant retail investor inflows for the ARK Innovation ETF (ARKK) and other ARK funds have contributed to the huge rallies seen in various clean energy, 3D printing, software/cloud and biotech names that ARK has been partial to. Conversely, though, major outflows for ARK funds could make the selling pressure in such names during a selloff stronger than it otherwise would be.\nWith all that said,I'm not sold at this point on the current selloff being the start of a bear market for tech stocks overall.\nIn spite of the speculative frenzy in some corners of tech, quite a few quality tech names remain moderately-valued or just a little expensive right now. And between vaccine rollouts, elevated household savings levels and the likely arrival of additional stimulus in March, the macro backdrop still looks favorable, though it's possible that some stay-at-home plays see demand cool off a bit in the coming months.\nEventually, inflation, higher bond yields and a tightening Fed could become a problem for tech stocks in general. But we still appear to be a ways away from reaching that point, and for now, the Fed remains as accommodative as ever.\nAs a result, if the current tech rout continues and leads both very expensive and not-so-expensive companies to see more selling pressure, the risk/reward could start looking very good for some of the more reasonably-priced names.","news_type":1,"symbols_score_info":{"LAZR":0.9,"DDD":0.9,"ARKK":0.9,"TLRY":0.9,"QS":0.9,"BLDP":0.9,"XONE":0.9,"APHA":0.9,"FCEL":0.9,"PLUG":0.9,"SSYS":0.9}},"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":366800570,"gmtCreate":1614423595590,"gmtModify":1703477479100,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Well","listText":"Well","text":"Well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/366800570","repostId":"1181374212","repostType":4,"isVote":1,"tweetType":1,"viewCount":2806,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366174755,"gmtCreate":1614423375177,"gmtModify":1703477476375,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehe","listText":"Hehe","text":"Hehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/366174755","repostId":"1181374212","repostType":4,"isVote":1,"tweetType":1,"viewCount":2397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341005182,"gmtCreate":1617759476146,"gmtModify":1634296684414,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Shiok","listText":"Shiok","text":"Shiok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/341005182","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","kind":"news","pubTimestamp":1617672655,"share":"https://www.laohunote.com/m/news/1101907559?lang=zh_CN&edition=full","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每 10 年就会引发一次——Archegos 可能是对的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能确定所谓家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机永远不会完全相同。20 世纪 80 年代末，全国近三分之一的储蓄和贷款协会倒闭，最终纳税人获得了约 2650 亿美元的救助（按 2021 年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄罗斯的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运作方式如此之大，以至于美联储主席艾伦-格林斯潘（Alan Greenspan）说，当 LTCM 失败时，“他一生中从未见过任何能与他感受到的恐怖相提并论的东西”。LTCM 被认为 “大到不能倒”，他策划了 14 家美国主要金融机构的救助计划。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构过度使用杠杆，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行又一次被认为太大而不能倒，纳税人出手相救。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆炸，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于门外汉来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思： 咨询公司安永估计，全球约有 10,000 家家族理财室，但市场研究公司坎普登研究公司（Campden Research）的另一项估计显示，管理规模接近 6 万亿美元。鉴于 2019 年的数据，这 6 万亿美元现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的资金管理人</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这就是潜在的危险。家族理财室一般不受监管。1940 年的《投资顾问法》规定，拥有 15 家或以下客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元在起作用，没有人能真正说出谁在管理这笔钱，投资了什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大力押注某些中国股票，包括电子商务公司唯品会控股有限公司（Vipshop Holdings Ltd.VIPS），-1.19%，美国上市中国辅导公司跟谁学公司（GSX），-10.63%，以及美国媒体公司ViacomCBS Inc.VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。股价最近暴跌，引发了 Archegos 的大规模出售——约 300 亿美元。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道 Archegos 与华尔街的一些大公司合作，包括瑞士信贷集团 AGCS（+1.59%）、瑞银集团 AGUBS（+1.01%）、高盛集团 GS（-1.25%）、摩根士丹利 MS（-0.28%）、德意志银行 AGDB，+0.74% 和野村控股公司 NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但是，由于家族理财室在很大程度上被允许不受监管地运营，谁能说出这里到底涉及多少钱，市场风险有多大？我的同事马克-德坎布雷（Mark DeCambre）上周报道称，Archegos 的真实不良交易风险实际上可能接近 1000 亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的来源。随着 Archegos 的赌注走向南方，上述银行--考虑到自己的损失--用保证金评级打击了该公司。德意志银行很快抛售了约 40 亿美元的持股，而据说高盛和摩根士丹利也已解除头寸，这或许限制了它们的下行空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎并非如此。即便如此，美国证券交易委员会已对 Archegos 及其创始人 Bill Hwang 展开初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>一位同行，Fundstrat Global Advisors 的研究主管 Tom Lee，将评级-黄（John Hwang）列为他所知道的 “十大最佳投资头脑 ”之一。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012 年，黄的前对冲基金老虎亚洲管理公司（Tiger Asia Management）被指控利用有关中国银行的非法线索进行交易，认罪并支付了 6000 多万美元的罚款。美国证券交易委员会禁止黄代表客户管理资金——实质上将他逐出了对冲基金行业。于是 Hwang 开了 Archegos，再说一遍，家族办公室一般都不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特-耶伦（Janet Yellen）的关注。她上周表示，需要对金融业的这些私人角落进行更严格的监管。她监管的金融稳定监督委员会（FSOC）重新启动了一个特别工作组，以帮助各机构更好地 “共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯的话来说，家族理财室——一个价值数万亿美元的行业，在很大程度上被允许在比以往任何时候都更加错综复杂的全球金融体系的阴影中运作——属于超级富豪，由超级富豪拥有，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的崩溃可能是也可能不是另一场金融危机的开始。但是，谁能说成千上万的其他家族理财室如何处理他们的数万亿美元，以及类似的问题是否会爆发？</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>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每 10 年就会引发一次——Archegos 可能是对的</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\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每 10 年就会引发一次——Archegos 可能是对的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-04-06 09:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能确定所谓家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机永远不会完全相同。20 世纪 80 年代末，全国近三分之一的储蓄和贷款协会倒闭，最终纳税人获得了约 2650 亿美元的救助（按 2021 年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄罗斯的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运作方式如此之大，以至于美联储主席艾伦-格林斯潘（Alan Greenspan）说，当 LTCM 失败时，“他一生中从未见过任何能与他感受到的恐怖相提并论的东西”。LTCM 被认为 “大到不能倒”，他策划了 14 家美国主要金融机构的救助计划。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构过度使用杠杆，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行又一次被认为太大而不能倒，纳税人出手相救。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆炸，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于门外汉来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思： 咨询公司安永估计，全球约有 10,000 家家族理财室，但市场研究公司坎普登研究公司（Campden Research）的另一项估计显示，管理规模接近 6 万亿美元。鉴于 2019 年的数据，这 6 万亿美元现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的资金管理人</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这就是潜在的危险。家族理财室一般不受监管。1940 年的《投资顾问法》规定，拥有 15 家或以下客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元在起作用，没有人能真正说出谁在管理这笔钱，投资了什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大力押注某些中国股票，包括电子商务公司唯品会控股有限公司（Vipshop Holdings Ltd.VIPS），-1.19%，美国上市中国辅导公司跟谁学公司（GSX），-10.63%，以及美国媒体公司ViacomCBS Inc.VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。股价最近暴跌，引发了 Archegos 的大规模出售——约 300 亿美元。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道 Archegos 与华尔街的一些大公司合作，包括瑞士信贷集团 AGCS（+1.59%）、瑞银集团 AGUBS（+1.01%）、高盛集团 GS（-1.25%）、摩根士丹利 MS（-0.28%）、德意志银行 AGDB，+0.74% 和野村控股公司 NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但是，由于家族理财室在很大程度上被允许不受监管地运营，谁能说出这里到底涉及多少钱，市场风险有多大？我的同事马克-德坎布雷（Mark DeCambre）上周报道称，Archegos 的真实不良交易风险实际上可能接近 1000 亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的来源。随着 Archegos 的赌注走向南方，上述银行--考虑到自己的损失--用保证金评级打击了该公司。德意志银行很快抛售了约 40 亿美元的持股，而据说高盛和摩根士丹利也已解除头寸，这或许限制了它们的下行空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎并非如此。即便如此，美国证券交易委员会已对 Archegos 及其创始人 Bill Hwang 展开初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>一位同行，Fundstrat Global Advisors 的研究主管 Tom Lee，将评级-黄（John Hwang）列为他所知道的 “十大最佳投资头脑 ”之一。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012 年，黄的前对冲基金老虎亚洲管理公司（Tiger Asia Management）被指控利用有关中国银行的非法线索进行交易，认罪并支付了 6000 多万美元的罚款。美国证券交易委员会禁止黄代表客户管理资金——实质上将他逐出了对冲基金行业。于是 Hwang 开了 Archegos，再说一遍，家族办公室一般都不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特-耶伦（Janet Yellen）的关注。她上周表示，需要对金融业的这些私人角落进行更严格的监管。她监管的金融稳定监督委员会（FSOC）重新启动了一个特别工作组，以帮助各机构更好地 “共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯的话来说，家族理财室——一个价值数万亿美元的行业，在很大程度上被允许在比以往任何时候都更加错综复杂的全球金融体系的阴影中运作——属于超级富豪，由超级富豪拥有，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的崩溃可能是也可能不是另一场金融危机的开始。但是，谁能说成千上万的其他家族理财室如何处理他们的数万亿美元，以及类似的问题是否会爆发？</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?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":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2993,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328873100,"gmtCreate":1615515538200,"gmtModify":1703490284825,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehehe","listText":"Hehehe","text":"Hehehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/328873100","repostId":"1112019535","repostType":4,"repost":{"id":"1112019535","kind":"news","pubTimestamp":1615513797,"share":"https://www.laohunote.com/m/news/1112019535?lang=zh_CN&edition=full","pubTime":"2021-03-12 09:49","market":"us","language":"en","title":"As the Financial Services Industry Goes Digital, Thematic Investing Trends Come to the Fore<blockquote>随着金融服务业走向数字化，主题投资趋势凸显</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112019535","media":"Nasdaq","summary":"At a recent virtual event hosted by Nasdaq, ETF industry experts discussed how firms are embracing t","content":"<p>At a recent virtual event hosted by Nasdaq, ETF industry experts discussed how firms are embracing the digital revolution accelerated by the coronavirus pandemic, adopting new technologies and leveraging market data in new ways to connect with clients. The panel also highlighted the rise of thematic investing, including several themes that have come to the fore, such as cybersecurity, biotech and environmental, social and governance (ESG), but emphasized that investor education remains critical to healthy markets.</p><p><blockquote>在纳斯达克最近主办的一次虚拟活动中，ETF 行业专家讨论了企业如何拥抱冠状病毒大流行加速的数字革命，采用新技术并以新的方式利用市场数据与客户建立联系。该小组还强调了主题投资的兴起，包括几个已经脱颖而出的主题，如网络安全、生物技术以及环境、社会和治理（ESG），但强调投资者教育对健康的市场仍然至关重要。</blockquote></p><p> “The global investment community has pivoted to a digital world during the pandemic,”Lauren Dillard, Head of Investment Intelligence at Nasdaq, said during Nasdaq’s recent Virtual Cabana Poolside Chat. “Since much of the workforce transitioned to a remote environment, everything from investment strategies to investor engagement was impacted. Client engagement needs to be meaningful, and insights have to be actionable and consumable to deliver on investment thesis.”</p><p><blockquote>“纳斯达克投资情报主管劳伦-迪拉德（Lauren Dillard）在纳斯达克最近的虚拟小屋池畔聊天中说：”在大流行病期间，全球投资界已经转向了数字世界。“由于大部分员工都转移到了远程环境，从投资策略到投资者参与的方方面面都受到了影响。客户参与需要有意义，而见解必须具有可操作性和可操作性，才能传达投资论点”。</blockquote></p><p> During the virtual event, a panel comprised of Dillard, John Molesphini, Global Head of Insights ateVestment, a Nasdaq platform, and Dave Nadig, CIO and Director of Research at ETF Trends, and moderated by Tom Lydon, CEO ofETF Trends, discussed how the financial services industry is embracing digitalization while recognizing the need for humanization to establish meaningful partnerships.</p><p><blockquote>在虚拟活动期间，由 Dillard、纳斯达克平台 Insights ateVestment 全球主管 John Molesphini 和 ETF Trends 首席信息官兼研究总监 Dave Nadig 组成的小组，由 ETF Trends 首席执行官 Tom Lydon 主持，讨论了金融服务行业如何拥抱数字化，同时认识到需要人性化来建立有意义的合作伙伴关系。</blockquote></p><p> “It’s the firms relying on all the data in this digital world, but still managing to have the client connection, that are going to be best suited to take advantage of what’s to come and what we’ve experienced in the last 12 months,” said Molesphini. “It’s having an internal infrastructure in place to take advantage of the data when it’s available and having the distribution network. This will allow you to communicate more effectively with clients or adjust distribution network based on some of the trends you see.”</p><p><blockquote>“莫莱斯菲尼说：”那些依赖数字世界中所有数据，但仍设法与客户建立联系的公司，将最适合利用即将发生的事情和我们在过去 12 个月中所经历的情况。“这需要建立一个内部基础设施，以便在数据可用时加以利用，并拥有分销网络。这将使您能够更有效地与客户沟通，或根据您看到的一些趋势调整分销网络。”</blockquote></p><p> As many firms rapidly accelerated their digitalization efforts amid the pandemic, several investment themes also benefitted, notably cyber, cloud and biotech, Dillard argued. She also highlighted the rise in energy transition, the growing need to strengthen domestic infrastructure and the performance of the Nasdaq-100 Index.</p><p><blockquote>迪拉德认为，随着许多公司在疫情期间迅速加速数字化工作，几个投资主题也受益，特别是网络、云和生物技术。她还强调了能源转型的兴起、加强国内基础设施的日益增长的需求以及纳斯达克 100 指数的表现。</blockquote></p><p> “The Nasdaq-100 companies represent the modern industrial way we are all living,” said Dillard. “We are seeing demand around the globe, further heightened during the pandemic. In 2020, over $23 billion of net inflows into NDX ETF products, highlighting the strength of Nasdaq-100 companies.”</p><p><blockquote>“迪拉德说：”纳斯达克 100 强公司代表了我们所有人的现代工业生活方式。“我们看到全球的需求在大流行病期间进一步提高。2020 年，NDX ETF 产品净流入超过 230 亿美元，凸显了纳斯达克 100 强公司的实力”。</blockquote></p><p> Beyond these themes, Dillard and the other panelists spoke about the emergence of ESG in mainstream investment strategies.</p><p><blockquote>除了这些主题之外，迪拉德和其他小组成员还谈到了ESG在主流投资策略中的出现。</blockquote></p><p> “The industry come to recognize the fundamental differences between environmental, social, and governance criteria. They fit in portfolios in very different ways and give investors different exposure,” Dillard said. “But we finally see an understanding that ESG doesn’t just mean clean energy; it also doesn’t just mean gender diversity. The level of sophistication among the investing community around ESG has accelerated.”</p><p><blockquote>“业界逐渐认识到环境、社会和治理标准之间的根本差异。它们以截然不同的方式融入投资组合，并为投资者提供不同的风险敞口，”迪拉德说。“但我们终于明白，环境、社会和治理不仅仅意味着清洁能源，也不仅仅意味着性别多元化。投资界对环境、社会和治理的成熟度已经加快。”</blockquote></p><p> Because ESG is top of mind for many investors, Molesphini emphasized that when talking to clients and prospects, “you’re not just pitching them a product, you’re pitching them your firm.”</p><p><blockquote>由于 ESG 是许多投资者最关心的问题，Molesphini 强调，在与客户和潜在客户交谈时，“你不仅仅是向他们推销产品，而是向他们推销你的公司”。</blockquote></p><p> “We found that the best way to have an effective discussion on ESG is to approach the topic with an outcome oriented thinking,” Dillard added. “What are you trying to achieve, and what are your clients asking you around whether it’s E or it’s S, or it’s G.”</p><p><blockquote>“迪拉德补充说：”我们发现，就环境、社会和治理进行有效讨论的最佳方式是以结果为导向的思维方式来探讨这一话题。“你想达到什么目的？你的客户在问你什么，无论是E、S还是G。”</blockquote></p><p> Molesphini also stressed the importance of communicating and engaging with clients, especially in a rapidly changing market environment, not only regarding ESG but also with new products and market conditions.</p><p><blockquote>Molesphini还强调了与客户沟通和互动的重要性，尤其是在快速变化的市场环境中，不仅涉及ESG，还涉及新产品和市场条件。</blockquote></p><p> “We had market volatility and market trends that were taking place before the virus—low-interest rates and people looking to diversify, looking at alternative asset classes, looking at more thematic investing,” said Molesphini. “You can see that with some of our ETF providers bringing more product into the market. Then, on top of the investment themes going on, you have the virus, [and you have to] engage with the clients and educate them on what’s going on, but also keep them comfortable in this environment.”</p><p><blockquote>“莫莱斯菲尼说：”我们的市场波动和市场趋势在病毒爆发前就已经出现--低利率和人们寻求多元化投资、寻找替代资产类别、寻找更多主题投资。“你可以从我们的一些 ETF 提供商向市场推出更多产品中看到这一点。然后，除了正在进行的投资主题之外，你还有病毒，[你必须]与客户互动，教育他们正在发生的事情，同时也要让他们在这种环境中感到舒适。”</blockquote></p><p> ETF Trends’ Nadig reflected upon his recent experiences with financial advisors, noting that they “talk about wanting to have fewer, better relationships,” and many have adopted new technologies.</p><p><blockquote>ETF Trends 的 Nadig 回顾了他最近与财务顾问打交道的经历，指出他们 “谈论希望拥有更少、更好的关系”，而且许多人已经采用了新技术。</blockquote></p><p> “Most [advisors] report that their relationships with their clients have gotten better through all of this. They’ve had more frequent contact, more meaningful contact,” said Nadig.</p><p><blockquote>“大多数（顾问）都表示，通过这一切，他们与客户的关系有所改善。他们的联系更频繁，接触更有意义，”纳迪格说。</blockquote></p><p> “I would argue that to some degree there’s a humanization element that has happened as a result of this, which can deepen partnerships. I definitely believe that the idea of those fewer, deeper partnerships has resonated,” noted Dillard.</p><p><blockquote>“我认为，在某种程度上，这带来了一种人性化的因素，可以加深伙伴关系。我绝对相信，这种更少、更深层次的伙伴关系的想法已经引起了共鸣，”迪拉德指出。</blockquote></p><p></p><p> “Portfolios are getting really complex,” Dillard said. “All of that ties back to more education and working with the right partners. It also means to listen to our clients and understand what investors they are trying to target because I can promise you the one that wants fixed income type products is probably not the same as the one that wants a crypto product.”</p><p><blockquote>“迪拉德说：”投资组合变得非常复杂。“所有这些都与更多的教育和与合适的合作伙伴合作有关。这也意味着要倾听客户的心声，了解他们想瞄准哪些投资者，因为我可以向你保证，想要固定收益类产品的人可能和想要加密货币产品的人不一样。”</blockquote></p><p></p>","source":"lsy1603171495471","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>As the Financial Services Industry Goes Digital, Thematic Investing Trends Come to the Fore<blockquote>随着金融服务业走向数字化，主题投资趋势凸显</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\">\nAs the Financial Services Industry Goes Digital, Thematic Investing Trends Come to the Fore<blockquote>随着金融服务业走向数字化，主题投资趋势凸显</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-03-12 09:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>At a recent virtual event hosted by Nasdaq, ETF industry experts discussed how firms are embracing the digital revolution accelerated by the coronavirus pandemic, adopting new technologies and leveraging market data in new ways to connect with clients. The panel also highlighted the rise of thematic investing, including several themes that have come to the fore, such as cybersecurity, biotech and environmental, social and governance (ESG), but emphasized that investor education remains critical to healthy markets.</p><p><blockquote>在纳斯达克最近主办的一次虚拟活动中，ETF 行业专家讨论了企业如何拥抱冠状病毒大流行加速的数字革命，采用新技术并以新的方式利用市场数据与客户建立联系。该小组还强调了主题投资的兴起，包括几个已经脱颖而出的主题，如网络安全、生物技术以及环境、社会和治理（ESG），但强调投资者教育对健康的市场仍然至关重要。</blockquote></p><p> “The global investment community has pivoted to a digital world during the pandemic,”Lauren Dillard, Head of Investment Intelligence at Nasdaq, said during Nasdaq’s recent Virtual Cabana Poolside Chat. “Since much of the workforce transitioned to a remote environment, everything from investment strategies to investor engagement was impacted. Client engagement needs to be meaningful, and insights have to be actionable and consumable to deliver on investment thesis.”</p><p><blockquote>“纳斯达克投资情报主管劳伦-迪拉德（Lauren Dillard）在纳斯达克最近的虚拟小屋池畔聊天中说：”在大流行病期间，全球投资界已经转向了数字世界。“由于大部分员工都转移到了远程环境，从投资策略到投资者参与的方方面面都受到了影响。客户参与需要有意义，而见解必须具有可操作性和可操作性，才能传达投资论点”。</blockquote></p><p> During the virtual event, a panel comprised of Dillard, John Molesphini, Global Head of Insights ateVestment, a Nasdaq platform, and Dave Nadig, CIO and Director of Research at ETF Trends, and moderated by Tom Lydon, CEO ofETF Trends, discussed how the financial services industry is embracing digitalization while recognizing the need for humanization to establish meaningful partnerships.</p><p><blockquote>在虚拟活动期间，由 Dillard、纳斯达克平台 Insights ateVestment 全球主管 John Molesphini 和 ETF Trends 首席信息官兼研究总监 Dave Nadig 组成的小组，由 ETF Trends 首席执行官 Tom Lydon 主持，讨论了金融服务行业如何拥抱数字化，同时认识到需要人性化来建立有意义的合作伙伴关系。</blockquote></p><p> “It’s the firms relying on all the data in this digital world, but still managing to have the client connection, that are going to be best suited to take advantage of what’s to come and what we’ve experienced in the last 12 months,” said Molesphini. “It’s having an internal infrastructure in place to take advantage of the data when it’s available and having the distribution network. This will allow you to communicate more effectively with clients or adjust distribution network based on some of the trends you see.”</p><p><blockquote>“莫莱斯菲尼说：”那些依赖数字世界中所有数据，但仍设法与客户建立联系的公司，将最适合利用即将发生的事情和我们在过去 12 个月中所经历的情况。“这需要建立一个内部基础设施，以便在数据可用时加以利用，并拥有分销网络。这将使您能够更有效地与客户沟通，或根据您看到的一些趋势调整分销网络。”</blockquote></p><p> As many firms rapidly accelerated their digitalization efforts amid the pandemic, several investment themes also benefitted, notably cyber, cloud and biotech, Dillard argued. She also highlighted the rise in energy transition, the growing need to strengthen domestic infrastructure and the performance of the Nasdaq-100 Index.</p><p><blockquote>迪拉德认为，随着许多公司在疫情期间迅速加速数字化工作，几个投资主题也受益，特别是网络、云和生物技术。她还强调了能源转型的兴起、加强国内基础设施的日益增长的需求以及纳斯达克 100 指数的表现。</blockquote></p><p> “The Nasdaq-100 companies represent the modern industrial way we are all living,” said Dillard. “We are seeing demand around the globe, further heightened during the pandemic. In 2020, over $23 billion of net inflows into NDX ETF products, highlighting the strength of Nasdaq-100 companies.”</p><p><blockquote>“迪拉德说：”纳斯达克 100 强公司代表了我们所有人的现代工业生活方式。“我们看到全球的需求在大流行病期间进一步提高。2020 年，NDX ETF 产品净流入超过 230 亿美元，凸显了纳斯达克 100 强公司的实力”。</blockquote></p><p> Beyond these themes, Dillard and the other panelists spoke about the emergence of ESG in mainstream investment strategies.</p><p><blockquote>除了这些主题之外，迪拉德和其他小组成员还谈到了ESG在主流投资策略中的出现。</blockquote></p><p> “The industry come to recognize the fundamental differences between environmental, social, and governance criteria. They fit in portfolios in very different ways and give investors different exposure,” Dillard said. “But we finally see an understanding that ESG doesn’t just mean clean energy; it also doesn’t just mean gender diversity. The level of sophistication among the investing community around ESG has accelerated.”</p><p><blockquote>“业界逐渐认识到环境、社会和治理标准之间的根本差异。它们以截然不同的方式融入投资组合，并为投资者提供不同的风险敞口，”迪拉德说。“但我们终于明白，环境、社会和治理不仅仅意味着清洁能源，也不仅仅意味着性别多元化。投资界对环境、社会和治理的成熟度已经加快。”</blockquote></p><p> Because ESG is top of mind for many investors, Molesphini emphasized that when talking to clients and prospects, “you’re not just pitching them a product, you’re pitching them your firm.”</p><p><blockquote>由于 ESG 是许多投资者最关心的问题，Molesphini 强调，在与客户和潜在客户交谈时，“你不仅仅是向他们推销产品，而是向他们推销你的公司”。</blockquote></p><p> “We found that the best way to have an effective discussion on ESG is to approach the topic with an outcome oriented thinking,” Dillard added. “What are you trying to achieve, and what are your clients asking you around whether it’s E or it’s S, or it’s G.”</p><p><blockquote>“迪拉德补充说：”我们发现，就环境、社会和治理进行有效讨论的最佳方式是以结果为导向的思维方式来探讨这一话题。“你想达到什么目的？你的客户在问你什么，无论是E、S还是G。”</blockquote></p><p> Molesphini also stressed the importance of communicating and engaging with clients, especially in a rapidly changing market environment, not only regarding ESG but also with new products and market conditions.</p><p><blockquote>Molesphini还强调了与客户沟通和互动的重要性，尤其是在快速变化的市场环境中，不仅涉及ESG，还涉及新产品和市场条件。</blockquote></p><p> “We had market volatility and market trends that were taking place before the virus—low-interest rates and people looking to diversify, looking at alternative asset classes, looking at more thematic investing,” said Molesphini. “You can see that with some of our ETF providers bringing more product into the market. Then, on top of the investment themes going on, you have the virus, [and you have to] engage with the clients and educate them on what’s going on, but also keep them comfortable in this environment.”</p><p><blockquote>“莫莱斯菲尼说：”我们的市场波动和市场趋势在病毒爆发前就已经出现--低利率和人们寻求多元化投资、寻找替代资产类别、寻找更多主题投资。“你可以从我们的一些 ETF 提供商向市场推出更多产品中看到这一点。然后，除了正在进行的投资主题之外，你还有病毒，[你必须]与客户互动，教育他们正在发生的事情，同时也要让他们在这种环境中感到舒适。”</blockquote></p><p> ETF Trends’ Nadig reflected upon his recent experiences with financial advisors, noting that they “talk about wanting to have fewer, better relationships,” and many have adopted new technologies.</p><p><blockquote>ETF Trends 的 Nadig 回顾了他最近与财务顾问打交道的经历，指出他们 “谈论希望拥有更少、更好的关系”，而且许多人已经采用了新技术。</blockquote></p><p> “Most [advisors] report that their relationships with their clients have gotten better through all of this. They’ve had more frequent contact, more meaningful contact,” said Nadig.</p><p><blockquote>“大多数（顾问）都表示，通过这一切，他们与客户的关系有所改善。他们的联系更频繁，接触更有意义，”纳迪格说。</blockquote></p><p> “I would argue that to some degree there’s a humanization element that has happened as a result of this, which can deepen partnerships. I definitely believe that the idea of those fewer, deeper partnerships has resonated,” noted Dillard.</p><p><blockquote>“我认为，在某种程度上，这带来了一种人性化的因素，可以加深伙伴关系。我绝对相信，这种更少、更深层次的伙伴关系的想法已经引起了共鸣，”迪拉德指出。</blockquote></p><p></p><p> “Portfolios are getting really complex,” Dillard said. “All of that ties back to more education and working with the right partners. It also means to listen to our clients and understand what investors they are trying to target because I can promise you the one that wants fixed income type products is probably not the same as the one that wants a crypto product.”</p><p><blockquote>“迪拉德说：”投资组合变得非常复杂。“所有这些都与更多的教育和与合适的合作伙伴合作有关。这也意味着要倾听客户的心声，了解他们想瞄准哪些投资者，因为我可以向你保证，想要固定收益类产品的人可能和想要加密货币产品的人不一样。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/as-the-financial-services-industry-goes-digital-thematic-investing-trends-come-to-the-fore\">Nasdaq</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.nasdaq.com/articles/as-the-financial-services-industry-goes-digital-thematic-investing-trends-come-to-the-fore","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112019535","content_text":"At a recent virtual event hosted by Nasdaq, ETF industry experts discussed how firms are embracing the digital revolution accelerated by the coronavirus pandemic, adopting new technologies and leveraging market data in new ways to connect with clients. The panel also highlighted the rise of thematic investing, including several themes that have come to the fore, such as cybersecurity, biotech and environmental, social and governance (ESG), but emphasized that investor education remains critical to healthy markets.\n“The global investment community has pivoted to a digital world during the pandemic,”Lauren Dillard, Head of Investment Intelligence at Nasdaq, said during Nasdaq’s recent Virtual Cabana Poolside Chat. “Since much of the workforce transitioned to a remote environment, everything from investment strategies to investor engagement was impacted. Client engagement needs to be meaningful, and insights have to be actionable and consumable to deliver on investment thesis.”\nDuring the virtual event, a panel comprised of Dillard, John Molesphini, Global Head of Insights ateVestment, a Nasdaq platform, and Dave Nadig, CIO and Director of Research at ETF Trends, and moderated by Tom Lydon, CEO ofETF Trends, discussed how the financial services industry is embracing digitalization while recognizing the need for humanization to establish meaningful partnerships.\n“It’s the firms relying on all the data in this digital world, but still managing to have the client connection, that are going to be best suited to take advantage of what’s to come and what we’ve experienced in the last 12 months,” said Molesphini. “It’s having an internal infrastructure in place to take advantage of the data when it’s available and having the distribution network. This will allow you to communicate more effectively with clients or adjust distribution network based on some of the trends you see.”\nAs many firms rapidly accelerated their digitalization efforts amid the pandemic, several investment themes also benefitted, notably cyber, cloud and biotech, Dillard argued. She also highlighted the rise in energy transition, the growing need to strengthen domestic infrastructure and the performance of the Nasdaq-100 Index.\n“The Nasdaq-100 companies represent the modern industrial way we are all living,” said Dillard. “We are seeing demand around the globe, further heightened during the pandemic. In 2020, over $23 billion of net inflows into NDX ETF products, highlighting the strength of Nasdaq-100 companies.”\nBeyond these themes, Dillard and the other panelists spoke about the emergence of ESG in mainstream investment strategies.\n“The industry come to recognize the fundamental differences between environmental, social, and governance criteria. They fit in portfolios in very different ways and give investors different exposure,” Dillard said. “But we finally see an understanding that ESG doesn’t just mean clean energy; it also doesn’t just mean gender diversity. The level of sophistication among the investing community around ESG has accelerated.”\nBecause ESG is top of mind for many investors, Molesphini emphasized that when talking to clients and prospects, “you’re not just pitching them a product, you’re pitching them your firm.”\n“We found that the best way to have an effective discussion on ESG is to approach the topic with an outcome oriented thinking,” Dillard added. “What are you trying to achieve, and what are your clients asking you around whether it’s E or it’s S, or it’s G.”\nMolesphini also stressed the importance of communicating and engaging with clients, especially in a rapidly changing market environment, not only regarding ESG but also with new products and market conditions.\n“We had market volatility and market trends that were taking place before the virus—low-interest rates and people looking to diversify, looking at alternative asset classes, looking at more thematic investing,” said Molesphini. “You can see that with some of our ETF providers bringing more product into the market. Then, on top of the investment themes going on, you have the virus, [and you have to] engage with the clients and educate them on what’s going on, but also keep them comfortable in this environment.”\nETF Trends’ Nadig reflected upon his recent experiences with financial advisors, noting that they “talk about wanting to have fewer, better relationships,” and many have adopted new technologies.\n“Most [advisors] report that their relationships with their clients have gotten better through all of this. They’ve had more frequent contact, more meaningful contact,” said Nadig.\n“I would argue that to some degree there’s a humanization element that has happened as a result of this, which can deepen partnerships. I definitely believe that the idea of those fewer, deeper partnerships has resonated,” noted Dillard.\n“Portfolios are getting really complex,” Dillard said. “All of that ties back to more education and working with the right partners. It also means to listen to our clients and understand what investors they are trying to target because I can promise you the one that wants fixed income type products is probably not the same as the one that wants a crypto product.”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341004859,"gmtCreate":1617759518471,"gmtModify":1634296683470,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"S","listText":"S","text":"S","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/341004859","repostId":"1130873175","repostType":4,"isVote":1,"tweetType":1,"viewCount":2020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364533300,"gmtCreate":1614862926400,"gmtModify":1703482128366,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehe","listText":"Hehe","text":"Hehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/364533300","repostId":"1119441964","repostType":4,"isVote":1,"tweetType":1,"viewCount":1542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365961218,"gmtCreate":1614690400934,"gmtModify":1703479904192,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehe","listText":"Hehe","text":"Hehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365961218","repostId":"2116596110","repostType":4,"isVote":1,"tweetType":1,"viewCount":1867,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365961198,"gmtCreate":1614690375114,"gmtModify":1703479904022,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365961198","repostId":"1169004570","repostType":4,"isVote":1,"tweetType":1,"viewCount":2308,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362303120,"gmtCreate":1614592769360,"gmtModify":1703478577623,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Hehe","listText":"Hehe","text":"Hehe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362303120","repostId":"2116453148","repostType":4,"repost":{"id":"2116453148","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1614590670,"share":"https://www.laohunote.com/m/news/2116453148?lang=zh_CN&edition=full","pubTime":"2021-03-01 17:24","market":"hk","language":"en","title":"7 Stocks To Watch For March 1, 2021<blockquote>2021 年 3 月 1 日值得关注的 7 只股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2116453148","media":"Benzinga Earnings","summary":"Some of the stocks that may grab investor focus today are:","content":"<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p><ul><li>Wall Street expects <b> DENTSPLY SIRONA Inc</b> (NASDAQ:XRAY) to report quarterly earnings at $0.64 per share on revenue of $995.70 million before the opening bell. Dentsply Sirona shares rose 0.3% to $53.25 in after-hours trading.</li><li>Rocket Lab USA Inc. is nearing a deal to go public through a merger with <b><a href=\"https://laohu8.com/S/VACQ\">Vector Acquisition Corp</a>.</b> (NASDAQ:VACQ), the Wall Street Journal reported. Vector Acquisition shares gained 1.2% to $10.37 in the after-hours trading session.</li><li>Analysts are expecting <b> <a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video Communications Inc</b> (NASDAQ:ZM) to have earned $0.79 per share on revenue of $811.77 million for the latest quarter. The company will release earnings after the markets close. Zoom shares rose 0.7% to $376.15 in after-hours trading.</li></ul><ul><li><b>AstraZeneca plc</b> (NASDAQ:AZN) sold its 7.7% stake in <b>Moderna Inc. </b> (NASDAQ:MRNA) for over $1 billion, the Times reported. AstraZeneca shares gained 0.1% to $48.39 in after-hours trading, while Moderna shares fell 1% to $153.30 in the after-hours trading session.</li><li>Before the markets open, <b> Perrigo Company <a href=\"https://laohu8.com/S/PLC\">PLC</a></b> (NYSE:PRGO) is projected to report quarterly earnings at $1.00 per share on revenue of $1.32 billion. Perrigo shares fell 1.3% to $39.85 in after-hours trading.</li><li>Analysts expect <b> Nio Inc - ADR</b> (NYSE:NIO) to post a quarterly loss at $0.09 per share on revenue of $993.96 million after the closing bell. Nio shares fell 2.2% to close at $45.78 on Friday.</li></ul></p><p><blockquote><ul><li>华尔街预期<b>登士柏西罗纳公司</b>（纳斯达克股票代码：XRAY）公布季度收益为每股 0.64 美元，开盘前营收为 9.957 亿美元。Dentsply Sirona 股价在盘后交易中上涨 0.3%，至 53.25 美元。</li><li>Rocket Lab USA Inc. 即将通过与<b><a href=\"https://laohu8.com/S/VACQ\">矢量收购公司</a>.</b>（纳斯达克股票代码：VACQ），《华尔街日报》报道。Vector Acquisition 股价在盘后交易时段上涨 1.2%，至 10.37 美元。</li><li>分析师预计<b><a href=\"https://laohu8.com/S/ZM\">缩放</a>视频通信公司</b>（纳斯达克股票代码：ZM）最新季度每股收益 0.79 美元，营收为 8.1177 亿美元。该公司将在收盘后发布财报。Zoom 股价在盘后交易中上涨 0.7%，至 376.15 美元。</li></ul><ul><li><b>阿斯利康公司</b>（纳斯达克股票代码：AZN）出售其 7.7% 的股份<b>现代公司。</b>据《泰晤士报》报道，（纳斯达克股票代码：MRNA）价值超过 10 亿美元。阿斯利康股价在盘后交易中上涨 0.1%，至 48.39 美元，而 Moderna 股价在盘后交易时段下跌 1%，至 153.30 美元。</li><li>在市场开放之前，<b>佩里戈公司<a href=\"https://laohu8.com/S/PLC\">PLC</a></b>（纽约证券交易所股票代码：PRGO）预计季度收益为每股 1.00 美元，营收为 13.2 亿美元。Perrigo 股价在盘后交易中下跌 1.3%，至 39.85 美元。</li><li>分析师预计<b>蔚来公司 - ADR</b>（纽约证券交易所股票代码：NIO）收盘后季度亏损为每股 0.09 美元，营收为 9.9396 亿美元。蔚来股价周五下跌 2.2%，收于 45.78 美元。</li></ul></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Stocks To Watch For March 1, 2021<blockquote>2021 年 3 月 1 日值得关注的 7 只股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n7 Stocks To Watch For March 1, 2021<blockquote>2021 年 3 月 1 日值得关注的 7 只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-03-01 17:24</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p><ul><li>Wall Street expects <b> DENTSPLY SIRONA Inc</b> (NASDAQ:XRAY) to report quarterly earnings at $0.64 per share on revenue of $995.70 million before the opening bell. Dentsply Sirona shares rose 0.3% to $53.25 in after-hours trading.</li><li>Rocket Lab USA Inc. is nearing a deal to go public through a merger with <b><a href=\"https://laohu8.com/S/VACQ\">Vector Acquisition Corp</a>.</b> (NASDAQ:VACQ), the Wall Street Journal reported. Vector Acquisition shares gained 1.2% to $10.37 in the after-hours trading session.</li><li>Analysts are expecting <b> <a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video Communications Inc</b> (NASDAQ:ZM) to have earned $0.79 per share on revenue of $811.77 million for the latest quarter. The company will release earnings after the markets close. Zoom shares rose 0.7% to $376.15 in after-hours trading.</li></ul><ul><li><b>AstraZeneca plc</b> (NASDAQ:AZN) sold its 7.7% stake in <b>Moderna Inc. </b> (NASDAQ:MRNA) for over $1 billion, the Times reported. AstraZeneca shares gained 0.1% to $48.39 in after-hours trading, while Moderna shares fell 1% to $153.30 in the after-hours trading session.</li><li>Before the markets open, <b> Perrigo Company <a href=\"https://laohu8.com/S/PLC\">PLC</a></b> (NYSE:PRGO) is projected to report quarterly earnings at $1.00 per share on revenue of $1.32 billion. Perrigo shares fell 1.3% to $39.85 in after-hours trading.</li><li>Analysts expect <b> Nio Inc - ADR</b> (NYSE:NIO) to post a quarterly loss at $0.09 per share on revenue of $993.96 million after the closing bell. Nio shares fell 2.2% to close at $45.78 on Friday.</li></ul></p><p><blockquote><ul><li>华尔街预期<b>登士柏西罗纳公司</b>（纳斯达克股票代码：XRAY）公布季度收益为每股 0.64 美元，开盘前营收为 9.957 亿美元。Dentsply Sirona 股价在盘后交易中上涨 0.3%，至 53.25 美元。</li><li>Rocket Lab USA Inc. 即将通过与<b><a href=\"https://laohu8.com/S/VACQ\">矢量收购公司</a>.</b>（纳斯达克股票代码：VACQ），《华尔街日报》报道。Vector Acquisition 股价在盘后交易时段上涨 1.2%，至 10.37 美元。</li><li>分析师预计<b><a href=\"https://laohu8.com/S/ZM\">缩放</a>视频通信公司</b>（纳斯达克股票代码：ZM）最新季度每股收益 0.79 美元，营收为 8.1177 亿美元。该公司将在收盘后发布财报。Zoom 股价在盘后交易中上涨 0.7%，至 376.15 美元。</li></ul><ul><li><b>阿斯利康公司</b>（纳斯达克股票代码：AZN）出售其 7.7% 的股份<b>现代公司。</b>据《泰晤士报》报道，（纳斯达克股票代码：MRNA）价值超过 10 亿美元。阿斯利康股价在盘后交易中上涨 0.1%，至 48.39 美元，而 Moderna 股价在盘后交易时段下跌 1%，至 153.30 美元。</li><li>在市场开放之前，<b>佩里戈公司<a href=\"https://laohu8.com/S/PLC\">PLC</a></b>（纽约证券交易所股票代码：PRGO）预计季度收益为每股 1.00 美元，营收为 13.2 亿美元。Perrigo 股价在盘后交易中下跌 1.3%，至 39.85 美元。</li><li>分析师预计<b>蔚来公司 - ADR</b>（纽约证券交易所股票代码：NIO）收盘后季度亏损为每股 0.09 美元，营收为 9.9396 亿美元。蔚来股价周五下跌 2.2%，收于 45.78 美元。</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PRGO":"百利高","ZM":"Zoom","NIO":"蔚来","AZN":"阿斯利康","XRAY":"登士柏国际","MRNA":"Moderna, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2116453148","content_text":"Some of the stocks that may grab investor focus today are:Wall Street expects  DENTSPLY SIRONA Inc (NASDAQ:XRAY) to report quarterly earnings at $0.64 per share on revenue of $995.70 million before the opening bell. Dentsply Sirona shares rose 0.3% to $53.25 in after-hours trading.Rocket Lab USA Inc. is nearing a deal to go public through a merger with Vector Acquisition Corp. (NASDAQ:VACQ), the Wall Street Journal reported. Vector Acquisition shares gained 1.2% to $10.37 in the after-hours trading session.Analysts are expecting  Zoom Video Communications Inc (NASDAQ:ZM) to have earned $0.79 per share on revenue of $811.77 million for the latest quarter. The company will release earnings after the markets close. Zoom shares rose 0.7% to $376.15 in after-hours trading.AstraZeneca plc (NASDAQ:AZN) sold its 7.7% stake in Moderna Inc.  (NASDAQ:MRNA) for over $1 billion, the Times reported. AstraZeneca shares gained 0.1% to $48.39 in after-hours trading, while Moderna shares fell 1% to $153.30 in the after-hours trading session.Before the markets open,  Perrigo Company PLC (NYSE:PRGO) is projected to report quarterly earnings at $1.00 per share on revenue of $1.32 billion. Perrigo shares fell 1.3% to $39.85 in after-hours trading.Analysts expect  Nio Inc - ADR (NYSE:NIO) to post a quarterly loss at $0.09 per share on revenue of $993.96 million after the closing bell. Nio shares fell 2.2% to close at $45.78 on Friday.","news_type":1,"symbols_score_info":{"ZM":0.9,"MRNA":0.9,"NIO":0.9,"VACQ":0.9,"PRGO":0.9,"AZN":0.9,"XRAY":0.9}},"isVote":1,"tweetType":1,"viewCount":2329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368008692,"gmtCreate":1614264775516,"gmtModify":1634550392005,"author":{"id":"3577233785012287","authorId":"3577233785012287","name":"redlobster63","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577233785012287","idStr":"3577233785012287"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368008692","repostId":"1165777611","repostType":4,"isVote":1,"tweetType":1,"viewCount":2160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}