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2021-06-30

Nice

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2021-07-10

Nice

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2021-07-28

Cool

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2021-07-22

Ok

How to invest as the Delta variant takes hold<blockquote>随着德尔塔变异毒株的到来如何投资</blockquote>

2021-08-06

Ok

The S&P 500 looks strong — but these ‘internals’ are far less positive<blockquote>标普500看起来很强劲——但这些“内部因素”远没有那么积极</blockquote>

2021-08-05

Nice

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2021-08-01

True????

You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</blockquote>

2021-07-20

Slow

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2021-07-15

Nice

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2021-07-13

Great

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05:33","market":"hk","language":"zh","title":"外媒头条：小摩最新预测！明年全球经济将全面复苏","url":"https://stock-news.laohu8.com/highlight/detail?id=2190969538","media":"新浪财经","summary":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根大通：2022年全球经济将全面复苏\n\n\n2、辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n\n\n3、美银：标普500指数实","content":"<p><b>全球财经媒体昨夜今晨共同关注的头条新闻主要有：</b></p>\n<blockquote>\n <b>1、<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>：2022年全球经济将全面复苏</b>\n</blockquote>\n<blockquote>\n <b>2、<a href=\"https://laohu8.com/S/PFE\">辉瑞</a>CEO：因omicron的出现 可能要比预期更早接种第四针疫苗</b>\n</blockquote>\n<blockquote>\n <b>3、美银：标普500指数实际盈利收益率处于1947年以来最低水平</b>\n</blockquote>\n<blockquote>\n <b>4、美国商务部长：对欧盟数字法案的影响感到担忧</b>\n</blockquote>\n<blockquote>\n <b>5、等待芯片交付的时间再度拉长 缺货现象料难改善</b>\n</blockquote>\n<blockquote>\n <b>6、英国首相恢复居家工作建议 以遏制omicron传播</b>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/c73d5ba64db8e6f5394e17bed1d68026\" tg-width=\"365\" tg-height=\"259\" referrerpolicy=\"no-referrer\"></p>\n<p><b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>：2022年全球经济将全面复苏</b></p>\n<p>美国投行摩根大通周三预测，2022年将标志着新冠疫情的结束，全球经济将全面复苏。</p>\n<p>该行在2022年的展望报告中称，新的疫苗和疗法将引发“强劲的周期性复苏、全球流动性的回归以及消费者被压抑需求的释放”。</p>\n<p>摩根大通首席全球市场策略师兼全球研究联席主管Marko Kolanovic表示，该行预计，到2022年底，标普500指数将上涨近8%至5050点，新兴市场股票将飙升18%，10年期美国债收益率升至2.25%。</p>\n<p>Kolanovic称：“我们认为，2022年将是全球全面复苏、疫情结束以及恢复到疫情爆发前正常经济和市场状况的一年。”</p>\n<p><img src=\"https://static.tigerbbs.com/f64958459d8e15362eda127e159e2b5e\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p>\n<p><b><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>CEO：因omicron的出现 可能要比预期更早接种第四针疫苗</b></p>\n<p>辉瑞（Pfizer）首席执行官Albert Bourla周三表示，在初步研究表明omicron变体会破坏新冠疫苗产生的保护性抗体后，人们可能需要比预期更早地接种第四针新冠疫苗。</p>\n<p>辉瑞和BioNTech周三上午公布了一项初步实验室研究的结果，该结果表明，第三针疫苗可有效对抗omicron变体，而最初的两剂疫苗在抵御新毒株的能力方面显著下降。然而两家公司表示，两针疫苗可能仍然可以防止因omicron引起的重症。</p>\n<p>Bourla指出，该公司的初步研究是基于实验室创建的该变体的合成副本，需要从针对真实病毒的测试中获得更多数据。Bourla表示，真实情况的结果将更加准确，预计将在未来两周内公布。</p>\n<p>“当我们看到真实情况的数据时，将会确定第三剂是否能很好地抵御omicron以及持续多长时间。第二点，我认为我们需要第四剂加强针，”Bourla称。</p>\n<p>Bourla此前预计，在第三针注射后12个月，需要注射第四针。 “对于omicron，我们需要继续观察，因为我们掌握的信息很少。我们可能需要更快，”他说。</p>\n<p><img src=\"https://static.tigerbbs.com/f7f315f864fdab28ae7ded4de244515e\" tg-width=\"550\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美银：标普500指数实际盈利收益率处于1947年以来最低水平</b></p>\n<p><a href=\"https://laohu8.com/S/BAC\">美国银行</a>策略师说，美国股市的实际盈利收益率已经降至杜鲁门就任总统、冷战刚刚开始以来的最低水平。</p>\n<p>Savita Subramanian牵头的策略师在周三的一份报告中写道，标普500指数目前的实际盈利收益率为-2.9%，意味着如果公司业绩不持续增长，那么投资者经通胀调整后将损失2.9%。“上次实际盈利收益率为负还是1947年。”</p>\n<p>策略师们表示，前四次实际盈利收益率为负的时候，均出现了熊市。他们建议投资者在能源、金融和房地产等抗通胀板块寻求避险。他们表示，对未来12个月通胀率将从6.2%降至2.5%的预期可能过于乐观，这代表着40年来最急速的通胀下降。</p>\n<p><a href=\"https://laohu8.com/S/BAC\">美国银行</a>一直看跌美国和欧洲股市，尽管两边主要指数最近几个月都创历史新高。在新冠病毒omicron变异株引发市场短暂下跌之后，标普500指数已经反弹并徘徊在纪录高位附近。</p>\n<p><img src=\"https://static.tigerbbs.com/9b554496205f305c148e99e907890134\" tg-width=\"550\" tg-height=\"376\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国商务部长：对欧盟数字法案的影响感到担忧</b></p>\n<p>美国商务部长雷蒙多表示，美国感到“严重关切”的是，欧盟的数字市场法案和数字服务法案会过度地影响总部在美国的科技企业及其充分服务欧盟客户、捍卫安全和隐私标准的能力。</p>\n<p>美国鼓励欧盟在推进立法程序之际，听取利益攸关方对这些法案的关切。</p>\n<p>雷蒙多以视频连线方式在美国商会的跨<a href=\"https://laohu8.com/S/600558\">大西洋</a>商业工作峰会上表示。</p>\n<p>雷蒙多指出，美国意识到，欧盟希望利用这些法案来营造公平、透明和安全的数字空间。</p>\n<p>她说，拜登政府认为敲定加强版的欧盟-美国“隐私盾”是第一要务，她仍然在积极地参与谈判。</p>\n<p><img src=\"https://static.tigerbbs.com/fb8e158634830a8680488986098a8d56\" tg-width=\"550\" tg-height=\"274\" referrerpolicy=\"no-referrer\"></p>\n<p><b>等待芯片交付的时间再度拉长 缺货现象料难改善</b></p>\n<p>芯片交付时间在11月份再次拉长，浇灭了令许多行业蒙受损失的缺货现象终见天日的希望。</p>\n<p>Susquehanna Financial Group的研究显示，备受关注的前置时间上个月比10月份增加了四天，达到约22.3周。这一等待时间创下了该公司2017年开始跟踪数据以来的最长纪录。</p>\n<p>对需要更多芯片的行业来说是这无疑是个挫折。包括苹果公司和<a href=\"https://laohu8.com/S/F\">福特汽车</a>在内的各类企业都抱怨无法满足客户对产品的需求，而同时成本也在上升。芯片交付时间增速在10月曾出现放缓，燃起了认为形势正在改善的乐观情绪。</p>\n<p>“虽然增长比最近几个月的大多数时间要短，但我们本来是希望出现明显逆转的，” Susquehanna分析师Chris Rolland在研究报告中表示。</p>\n<p><img src=\"https://static.tigerbbs.com/d37088174440cde2b2960461fa23ce07\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p>\n<p><b>英国首相恢复居家工作建议 以遏制omicron传播</b></p>\n<p>英国首相鲍里斯·约翰逊收紧防疫规定以遏制变异毒株omicron的传播，建议人们在家工作，并强制要求在大型公共场所使用“疫苗护照”。</p>\n<p>“越来越明显的是，omicron增长速度远快于德尔塔，”约翰逊在周三电视新闻发布会上宣布了英格兰地区的新防疫措施。他表示，“实施B计划是合适而负责任的做法”。</p>\n<p>即便在omicron出现前，英国单日新增新冠病例已经连续数月保持较高水平，因此有警告称这个新毒株将使医院系统不堪重负。在约翰逊宣布启动B计划前，苏格兰、威尔士和北爱尔兰已经实施了更严格的防疫限制。</p>\n<p>虽然新规远没有达到先前实施封锁时的严厉程度，但仍代表着重大调整，对约翰逊而言存在政治风险。约翰逊政府原本希望通过加快加强针的接种，避免在圣诞节期间推出新的限制措施。</p>","source":"XLCJ","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>外媒头条：小摩最新预测！明年全球经济将全面复苏</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n外媒头条：小摩最新预测！明年全球经济将全面复苏\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-09 05:33 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/usstock/c/2021-12-09/doc-ikyamrmy7749780.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根大通：2022年全球经济将全面复苏\n\n\n2、辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n\n\n3、美银：标普500指数实际盈利收益率处于1947年以来最低水平\n\n\n4、美国商务部长：对欧盟数字法案的影响感到担忧\n\n\n5、等待芯片交付的时间再度拉长 缺货现象料难改善\n\n\n6、英国首相恢复居家工作建议 以遏制omicron...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-12-09/doc-ikyamrmy7749780.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f874ded00c644297784368a7af94c8ae","relate_stocks":{"BK4534":"瑞士信贷持仓",".IXIC":"NASDAQ Composite","JPM":"摩根大通","BK4504":"桥水持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","PFE":"辉瑞","BK4207":"综合性银行",".SPX":"S&P 500 Index","BK4566":"资本集团","BK4550":"红杉资本持仓",".DJI":"道琼斯"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-12-09/doc-ikyamrmy7749780.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2190969538","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根大通：2022年全球经济将全面复苏\n\n\n2、辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n\n\n3、美银：标普500指数实际盈利收益率处于1947年以来最低水平\n\n\n4、美国商务部长：对欧盟数字法案的影响感到担忧\n\n\n5、等待芯片交付的时间再度拉长 缺货现象料难改善\n\n\n6、英国首相恢复居家工作建议 以遏制omicron传播\n\n\n摩根大通：2022年全球经济将全面复苏\n美国投行摩根大通周三预测，2022年将标志着新冠疫情的结束，全球经济将全面复苏。\n该行在2022年的展望报告中称，新的疫苗和疗法将引发“强劲的周期性复苏、全球流动性的回归以及消费者被压抑需求的释放”。\n摩根大通首席全球市场策略师兼全球研究联席主管Marko Kolanovic表示，该行预计，到2022年底，标普500指数将上涨近8%至5050点，新兴市场股票将飙升18%，10年期美国债收益率升至2.25%。\nKolanovic称：“我们认为，2022年将是全球全面复苏、疫情结束以及恢复到疫情爆发前正常经济和市场状况的一年。”\n\n辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n辉瑞（Pfizer）首席执行官Albert Bourla周三表示，在初步研究表明omicron变体会破坏新冠疫苗产生的保护性抗体后，人们可能需要比预期更早地接种第四针新冠疫苗。\n辉瑞和BioNTech周三上午公布了一项初步实验室研究的结果，该结果表明，第三针疫苗可有效对抗omicron变体，而最初的两剂疫苗在抵御新毒株的能力方面显著下降。然而两家公司表示，两针疫苗可能仍然可以防止因omicron引起的重症。\nBourla指出，该公司的初步研究是基于实验室创建的该变体的合成副本，需要从针对真实病毒的测试中获得更多数据。Bourla表示，真实情况的结果将更加准确，预计将在未来两周内公布。\n“当我们看到真实情况的数据时，将会确定第三剂是否能很好地抵御omicron以及持续多长时间。第二点，我认为我们需要第四剂加强针，”Bourla称。\nBourla此前预计，在第三针注射后12个月，需要注射第四针。 “对于omicron，我们需要继续观察，因为我们掌握的信息很少。我们可能需要更快，”他说。\n\n美银：标普500指数实际盈利收益率处于1947年以来最低水平\n美国银行策略师说，美国股市的实际盈利收益率已经降至杜鲁门就任总统、冷战刚刚开始以来的最低水平。\nSavita Subramanian牵头的策略师在周三的一份报告中写道，标普500指数目前的实际盈利收益率为-2.9%，意味着如果公司业绩不持续增长，那么投资者经通胀调整后将损失2.9%。“上次实际盈利收益率为负还是1947年。”\n策略师们表示，前四次实际盈利收益率为负的时候，均出现了熊市。他们建议投资者在能源、金融和房地产等抗通胀板块寻求避险。他们表示，对未来12个月通胀率将从6.2%降至2.5%的预期可能过于乐观，这代表着40年来最急速的通胀下降。\n美国银行一直看跌美国和欧洲股市，尽管两边主要指数最近几个月都创历史新高。在新冠病毒omicron变异株引发市场短暂下跌之后，标普500指数已经反弹并徘徊在纪录高位附近。\n\n美国商务部长：对欧盟数字法案的影响感到担忧\n美国商务部长雷蒙多表示，美国感到“严重关切”的是，欧盟的数字市场法案和数字服务法案会过度地影响总部在美国的科技企业及其充分服务欧盟客户、捍卫安全和隐私标准的能力。\n美国鼓励欧盟在推进立法程序之际，听取利益攸关方对这些法案的关切。\n雷蒙多以视频连线方式在美国商会的跨大西洋商业工作峰会上表示。\n雷蒙多指出，美国意识到，欧盟希望利用这些法案来营造公平、透明和安全的数字空间。\n她说，拜登政府认为敲定加强版的欧盟-美国“隐私盾”是第一要务，她仍然在积极地参与谈判。\n\n等待芯片交付的时间再度拉长 缺货现象料难改善\n芯片交付时间在11月份再次拉长，浇灭了令许多行业蒙受损失的缺货现象终见天日的希望。\nSusquehanna Financial Group的研究显示，备受关注的前置时间上个月比10月份增加了四天，达到约22.3周。这一等待时间创下了该公司2017年开始跟踪数据以来的最长纪录。\n对需要更多芯片的行业来说是这无疑是个挫折。包括苹果公司和福特汽车在内的各类企业都抱怨无法满足客户对产品的需求，而同时成本也在上升。芯片交付时间增速在10月曾出现放缓，燃起了认为形势正在改善的乐观情绪。\n“虽然增长比最近几个月的大多数时间要短，但我们本来是希望出现明显逆转的，” Susquehanna分析师Chris Rolland在研究报告中表示。\n\n英国首相恢复居家工作建议 以遏制omicron传播\n英国首相鲍里斯·约翰逊收紧防疫规定以遏制变异毒株omicron的传播，建议人们在家工作，并强制要求在大型公共场所使用“疫苗护照”。\n“越来越明显的是，omicron增长速度远快于德尔塔，”约翰逊在周三电视新闻发布会上宣布了英格兰地区的新防疫措施。他表示，“实施B计划是合适而负责任的做法”。\n即便在omicron出现前，英国单日新增新冠病例已经连续数月保持较高水平，因此有警告称这个新毒株将使医院系统不堪重负。在约翰逊宣布启动B计划前，苏格兰、威尔士和北爱尔兰已经实施了更严格的防疫限制。\n虽然新规远没有达到先前实施封锁时的严厉程度，但仍代表着重大调整，对约翰逊而言存在政治风险。约翰逊政府原本希望通过加快加强针的接种，避免在圣诞节期间推出新的限制措施。","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"JPM":0.9,".DJI":0.9,"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":2441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":854549043,"gmtCreate":1635470227914,"gmtModify":1635470228039,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"好","listText":"好","text":"好","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/854549043","repostId":"1112094851","repostType":2,"isVote":1,"tweetType":1,"viewCount":2589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":851954344,"gmtCreate":1634865932828,"gmtModify":1634866380271,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"好","listText":"好","text":"好","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851954344","repostId":"1120249852","repostType":2,"isVote":1,"tweetType":1,"viewCount":2335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":813609188,"gmtCreate":1630194068744,"gmtModify":1704956792117,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/813609188","repostId":"1162964424","repostType":4,"repost":{"id":"1162964424","kind":"news","pubTimestamp":1630111098,"share":"https://www.laohu8.com/m/news/1162964424?lang=zh_CN&edition=full","pubTime":"2021-08-28 08:38","market":"us","language":"en","title":"Apple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162964424","media":"TheStreet","summary":"Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.IPhone users thinking of upgrading their devices this year  should expect to reach deeper into their pockets. DigiTimes has reported that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.Bad news for consumers could be great news for Apple stock investors. If the price increase is con","content":"<p>Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.</p><p><blockquote>由于某些组件的价格上涨，苹果的iPhone 13可能会让消费者花费更多。这对用户来说是个坏消息，但对苹果股票投资者来说可能是个好消息。</blockquote></p><p> IPhone users thinking of upgrading their devices this year (or those looking to switch to the iOS-based product) should expect to reach deeper into their pockets. DigiTimes has&nbsp;reported&nbsp;that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.</p><p><blockquote>考虑今年升级设备的IPhone用户（或者那些希望转向基于iOS的产品的用户）应该期待更深入地了解他们的口袋。DigiTimes报道称，由于零部件通胀，苹果的iPhone 13可能会在下个月以更高的价格推出。</blockquote></p><p> Bad news for consumers could be great news for Apple stock&nbsp;investors. If the price increase is confirmed, it provides evidence that AAPL might be a great inflation play during these times of worry over rising producer and consumer prices.</p><p><blockquote>对消费者来说是个坏消息，对苹果股票投资者来说可能是个好消息。如果价格上涨得到证实，这将提供证据表明，在人们担心生产者和消费者价格上涨的时期，苹果公司可能会成为一个巨大的通胀工具。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d6f4ac9ebc1b90072340731dc5c1e613\" tg-width=\"1240\" tg-height=\"698\" referrerpolicy=\"no-referrer\"><span>Figure 1: Apple's iPhone 12 Pro.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：苹果的iPhone 12 Pro。</span></p></blockquote></p><p> <b>What happened?</b></p><p><blockquote><b>怎么回事？</b></blockquote></p><p> The iPhone is already considered a pricey tech gadget that can cost as much as $1,400 for the fully loaded, higher-end 12 Pro Max model in the US (see figure below). Due to this year’s components shortage, chip maker TSMC may raise its part prices to Apple by 3% to 5%, which could lead to a similar increase in the price of the yet-to-be-announced iPhone 13.</p><p><blockquote>iPhone已经被认为是一款昂贵的科技产品，在美国，满载的高端12 Pro Max机型售价高达1400美元（见下图）。由于今年的零部件短缺，芯片制造商台积电可能会将其对苹果的零部件价格提高3%至5%，这可能会导致尚未公布的iPhone 13价格出现类似上涨。</blockquote></p><p> It is unlikely that one of the largest and most successful consumer product companies in the world would try to raise prices without confidence that doing so does not impact demand for the new iPhone substantially. Apple can probably afford to hike prices because the company understands the value and the appeal of its luxury brand.</p><p><blockquote>世界上最大、最成功的消费品公司之一不太可能试图提高价格，而不相信这样做不会对新iPhone的需求产生实质性影响。苹果或许有能力提高价格，因为该公司了解其奢侈品牌的价值和吸引力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0140b9b68bb9eb5dd7e88aaff384785d\" tg-width=\"707\" tg-height=\"370\" referrerpolicy=\"no-referrer\"><span>Figure 2: iPhone 12 Pro on Apple's store.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：苹果商店上的iPhone 12 Pro。</span></p></blockquote></p><p> <b>A quote from Jim Cramer</b></p><p><blockquote><b>引用吉姆·克莱默的话</b></blockquote></p><p> One of the most concerning headwinds to stocks in the foreseeable future is the possibility of inflation eroding corporate margins and leading to higher interest rates in 2021-2022. But should producer and consumer prices spike, not all stocks will be impacted equally.</p><p><blockquote>在可预见的未来，股市最令人担忧的阻力之一是通胀可能侵蚀企业利润率并导致2021-2022年利率上升。但如果生产者和消费者价格飙升，并非所有股票都会受到同等影响。</blockquote></p><p> Generally speaking, companies with strong pricing power that are able to pass on the higher production costs to consumers will likely outperform. This is a point that&nbsp;Mad Money’s Jim Cramer has made recently. Here is his quote:</p><p><blockquote>一般来说，拥有强大定价权、能够将较高的生产成本转嫁给消费者的公司可能会表现出色。这是Mad Money的吉姆·克莱默(Jim Cramer)最近提出的观点。以下是他的名言：</blockquote></p><p>   “When you try to think of what’s working in this market... I want you to ask yourself, would you be insensitive to a price increase if the company put one through? [What are] the companies that can raise prices without infuriating you? Go buy their stocks.”  <b>The impact to the P&amp;L</b></p><p><blockquote>“当你试图思考这个市场上什么在起作用时……我想让你问问自己，如果公司提价，你会对提价麻木不仁吗？有哪些公司可以提价而不会激怒你？去买他们的股票。”<b>对损益的影响</b></blockquote></p><p> Are higher prices a good or a bad thing for a company’s financial performance? The answer is nuanced and depends on a few factors.</p><p><blockquote>价格上涨对公司的财务业绩是好事还是坏事？答案是微妙的，取决于几个因素。</blockquote></p><p> Holding all else constant, higher prices also mean higher revenues (think of the formula for sales: price times quantity). If the increase in price is decoupled from an increase in product or operating costs, then the hike also helps to boost margins – thus profits as well.</p><p><blockquote>在其他条件不变的情况下，更高的价格也意味着更高的收入（想想销售公式：价格乘以数量）。如果价格上涨与产品或运营成本的增加脱钩，那么涨价也有助于提高利润率，从而提高利润。</blockquote></p><p> However, “holding all else constant” is not how the world really works. A change in price tends to have an impact on a few key variables, most important of which is demand. If higher prices do not impact units sold by much or at all, this is great news for revenues and, most likely, earnings.</p><p><blockquote>然而，“保持其他一切不变”并不是世界真正的运作方式。价格的变化往往会对一些关键变量产生影响，其中最重要的是需求。如果更高的价格不会对售出的单位产生太大影响或根本没有影响，那么这对收入以及最有可能的盈利来说是个好消息。</blockquote></p><p> The other piece to consider is whether the price hike fully or only partially offsets higher costs. Assuming the latter, revenues can still benefit without a corresponding positive effect on margins and profits. The complexity presented by the many moving parts makes it hard to determine with certainty how a more expensive iPhone may impact Apple’s financial statements in the future.</p><p><blockquote>另一个需要考虑的问题是价格上涨是否完全或仅部分抵消了更高的成本。假设是后者，收入仍然可以受益，而不会对利润率和利润产生相应的积极影响。许多移动部件所呈现的复杂性使得很难确定更昂贵的iPhone未来可能会如何影响苹果的财务报表。</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>Apple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</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\">\nApple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-08-28 08:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.</p><p><blockquote>由于某些组件的价格上涨，苹果的iPhone 13可能会让消费者花费更多。这对用户来说是个坏消息，但对苹果股票投资者来说可能是个好消息。</blockquote></p><p> IPhone users thinking of upgrading their devices this year (or those looking to switch to the iOS-based product) should expect to reach deeper into their pockets. DigiTimes has&nbsp;reported&nbsp;that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.</p><p><blockquote>考虑今年升级设备的IPhone用户（或者那些希望转向基于iOS的产品的用户）应该期待更深入地了解他们的口袋。DigiTimes报道称，由于零部件通胀，苹果的iPhone 13可能会在下个月以更高的价格推出。</blockquote></p><p> Bad news for consumers could be great news for Apple stock&nbsp;investors. If the price increase is confirmed, it provides evidence that AAPL might be a great inflation play during these times of worry over rising producer and consumer prices.</p><p><blockquote>对消费者来说是个坏消息，对苹果股票投资者来说可能是个好消息。如果价格上涨得到证实，这将提供证据表明，在人们担心生产者和消费者价格上涨的时期，苹果公司可能会成为一个巨大的通胀工具。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d6f4ac9ebc1b90072340731dc5c1e613\" tg-width=\"1240\" tg-height=\"698\" referrerpolicy=\"no-referrer\"><span>Figure 1: Apple's iPhone 12 Pro.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：苹果的iPhone 12 Pro。</span></p></blockquote></p><p> <b>What happened?</b></p><p><blockquote><b>怎么回事？</b></blockquote></p><p> The iPhone is already considered a pricey tech gadget that can cost as much as $1,400 for the fully loaded, higher-end 12 Pro Max model in the US (see figure below). Due to this year’s components shortage, chip maker TSMC may raise its part prices to Apple by 3% to 5%, which could lead to a similar increase in the price of the yet-to-be-announced iPhone 13.</p><p><blockquote>iPhone已经被认为是一款昂贵的科技产品，在美国，满载的高端12 Pro Max机型售价高达1400美元（见下图）。由于今年的零部件短缺，芯片制造商台积电可能会将其对苹果的零部件价格提高3%至5%，这可能会导致尚未公布的iPhone 13价格出现类似上涨。</blockquote></p><p> It is unlikely that one of the largest and most successful consumer product companies in the world would try to raise prices without confidence that doing so does not impact demand for the new iPhone substantially. Apple can probably afford to hike prices because the company understands the value and the appeal of its luxury brand.</p><p><blockquote>世界上最大、最成功的消费品公司之一不太可能试图提高价格，而不相信这样做不会对新iPhone的需求产生实质性影响。苹果或许有能力提高价格，因为该公司了解其奢侈品牌的价值和吸引力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0140b9b68bb9eb5dd7e88aaff384785d\" tg-width=\"707\" tg-height=\"370\" referrerpolicy=\"no-referrer\"><span>Figure 2: iPhone 12 Pro on Apple's store.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：苹果商店上的iPhone 12 Pro。</span></p></blockquote></p><p> <b>A quote from Jim Cramer</b></p><p><blockquote><b>引用吉姆·克莱默的话</b></blockquote></p><p> One of the most concerning headwinds to stocks in the foreseeable future is the possibility of inflation eroding corporate margins and leading to higher interest rates in 2021-2022. But should producer and consumer prices spike, not all stocks will be impacted equally.</p><p><blockquote>在可预见的未来，股市最令人担忧的阻力之一是通胀可能侵蚀企业利润率并导致2021-2022年利率上升。但如果生产者和消费者价格飙升，并非所有股票都会受到同等影响。</blockquote></p><p> Generally speaking, companies with strong pricing power that are able to pass on the higher production costs to consumers will likely outperform. This is a point that&nbsp;Mad Money’s Jim Cramer has made recently. Here is his quote:</p><p><blockquote>一般来说，拥有强大定价权、能够将较高的生产成本转嫁给消费者的公司可能会表现出色。这是Mad Money的吉姆·克莱默(Jim Cramer)最近提出的观点。以下是他的名言：</blockquote></p><p>   “When you try to think of what’s working in this market... I want you to ask yourself, would you be insensitive to a price increase if the company put one through? [What are] the companies that can raise prices without infuriating you? Go buy their stocks.”  <b>The impact to the P&amp;L</b></p><p><blockquote>“当你试图思考这个市场上什么在起作用时……我想让你问问自己，如果公司提价，你会对提价麻木不仁吗？有哪些公司可以提价而不会激怒你？去买他们的股票。”<b>对损益的影响</b></blockquote></p><p> Are higher prices a good or a bad thing for a company’s financial performance? The answer is nuanced and depends on a few factors.</p><p><blockquote>价格上涨对公司的财务业绩是好事还是坏事？答案是微妙的，取决于几个因素。</blockquote></p><p> Holding all else constant, higher prices also mean higher revenues (think of the formula for sales: price times quantity). If the increase in price is decoupled from an increase in product or operating costs, then the hike also helps to boost margins – thus profits as well.</p><p><blockquote>在其他条件不变的情况下，更高的价格也意味着更高的收入（想想销售公式：价格乘以数量）。如果价格上涨与产品或运营成本的增加脱钩，那么涨价也有助于提高利润率，从而提高利润。</blockquote></p><p> However, “holding all else constant” is not how the world really works. A change in price tends to have an impact on a few key variables, most important of which is demand. If higher prices do not impact units sold by much or at all, this is great news for revenues and, most likely, earnings.</p><p><blockquote>然而，“保持其他一切不变”并不是世界真正的运作方式。价格的变化往往会对一些关键变量产生影响，其中最重要的是需求。如果更高的价格不会对售出的单位产生太大影响或根本没有影响，那么这对收入以及最有可能的盈利来说是个好消息。</blockquote></p><p> The other piece to consider is whether the price hike fully or only partially offsets higher costs. Assuming the latter, revenues can still benefit without a corresponding positive effect on margins and profits. The complexity presented by the many moving parts makes it hard to determine with certainty how a more expensive iPhone may impact Apple’s financial statements in the future.</p><p><blockquote>另一个需要考虑的问题是价格上涨是否完全或仅部分抵消了更高的成本。假设是后者，收入仍然可以受益，而不会对利润率和利润产生相应的积极影响。许多移动部件所呈现的复杂性使得很难确定更昂贵的iPhone未来可能会如何影响苹果的财务报表。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/iphone/apple-stock-how-it-could-be-a-great-inflation-play\">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":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/iphone/apple-stock-how-it-could-be-a-great-inflation-play","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162964424","content_text":"Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.\nIPhone users thinking of upgrading their devices this year (or those looking to switch to the iOS-based product) should expect to reach deeper into their pockets. DigiTimes has reported that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.\nBad news for consumers could be great news for Apple stock investors. If the price increase is confirmed, it provides evidence that AAPL might be a great inflation play during these times of worry over rising producer and consumer prices.\nFigure 1: Apple's iPhone 12 Pro.\nWhat happened?\nThe iPhone is already considered a pricey tech gadget that can cost as much as $1,400 for the fully loaded, higher-end 12 Pro Max model in the US (see figure below). Due to this year’s components shortage, chip maker TSMC may raise its part prices to Apple by 3% to 5%, which could lead to a similar increase in the price of the yet-to-be-announced iPhone 13.\nIt is unlikely that one of the largest and most successful consumer product companies in the world would try to raise prices without confidence that doing so does not impact demand for the new iPhone substantially. Apple can probably afford to hike prices because the company understands the value and the appeal of its luxury brand.\nFigure 2: iPhone 12 Pro on Apple's store.\nA quote from Jim Cramer\nOne of the most concerning headwinds to stocks in the foreseeable future is the possibility of inflation eroding corporate margins and leading to higher interest rates in 2021-2022. But should producer and consumer prices spike, not all stocks will be impacted equally.\nGenerally speaking, companies with strong pricing power that are able to pass on the higher production costs to consumers will likely outperform. This is a point that Mad Money’s Jim Cramer has made recently. Here is his quote:\n\n “When you try to think of what’s working in this market... I want you to ask yourself, would you be insensitive to a price increase if the company put one through? [What are] the companies that can raise prices without infuriating you? Go buy their stocks.”\n\nThe impact to the P&L\nAre higher prices a good or a bad thing for a company’s financial performance? The answer is nuanced and depends on a few factors.\nHolding all else constant, higher prices also mean higher revenues (think of the formula for sales: price times quantity). If the increase in price is decoupled from an increase in product or operating costs, then the hike also helps to boost margins – thus profits as well.\nHowever, “holding all else constant” is not how the world really works. A change in price tends to have an impact on a few key variables, most important of which is demand. If higher prices do not impact units sold by much or at all, this is great news for revenues and, most likely, earnings.\nThe other piece to consider is whether the price hike fully or only partially offsets higher costs. Assuming the latter, revenues can still benefit without a corresponding positive effect on margins and profits. The complexity presented by the many moving parts makes it hard to determine with certainty how a more expensive iPhone may impact Apple’s financial statements in the future.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893079970,"gmtCreate":1628224759390,"gmtModify":1633752426217,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/893079970","repostId":"1199377263","repostType":4,"repost":{"id":"1199377263","kind":"news","pubTimestamp":1628222564,"share":"https://www.laohu8.com/m/news/1199377263?lang=zh_CN&edition=full","pubTime":"2021-08-06 12:02","market":"us","language":"en","title":"The S&P 500 looks strong — but these ‘internals’ are far less positive<blockquote>标普500看起来很强劲——但这些“内部因素”远没有那么积极</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199377263","media":"MarketWatch","summary":"The S&P 500 index continues to accelerate to the upside. A new all-time closing high was registered ","content":"<p>The S&amp;P 500 index continues to accelerate to the upside. A new all-time closing high was registered on Tuesday. Yet, the “internals” of the market remain in a far worse state. This has been the case for some time (since June 11, at least), and it may continue to be the case for a while longer.</p><p><blockquote>标普500指数继续加速上行。周二创下历史收盘新高。然而，市场的“内部”仍然处于更糟糕的状态。这种情况已经持续了一段时间（至少自6月11日以来），而且这种情况可能会持续一段时间。</blockquote></p><p> But as long as the S&amp;P&nbsp;chart is positive and above support, a “core” long position is recommended.</p><p><blockquote>但只要标普图表为正且高于支撑位，建议建立“核心”多头头寸。</blockquote></p><p> The first support level is now roughly 4370. That was the low on the two most recent days on which SPX sold off and then rebounded – July 27 and Tuesday (yes, the same day that SPX bounced back from that level and then closed at a new all-time high). Since it has been doubly tested, that makes it a viable support level. There is resistance at 4430, the all-time intraday high.</p><p><blockquote>第一支撑位现在大致在4370。这是SPX抛售然后反弹的最近两天的低点——7月27日和周二（是的，同一天SPX从该水平反弹，然后收于历史新高）。由于它已经过双重测试，这使它成为一个可行的支撑位。盘中历史高点4430有阻力。</blockquote></p><p> You can see from the accompanying chart that SPX has been in a rather right trading since July 23 – between 4370 and 4430.</p><p><blockquote>你可以从附图中看到，自7月23日以来，SPX一直处于相当正确的交易状态——在4370到4430之间。</blockquote></p><p> A breakout from that range will be significant. If it were to break to the downside, that would be a negative for the SPX chart. Below there, a major support area exists at 4233, and it would likely be tested quickly after a break below 4370.</p><p><blockquote>突破该范围将具有重要意义。如果它向下突破，这将对SPX图表不利。在此下方，主要支撑区域位于4233点，跌破4370点后可能会很快受到测试。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8fde9899a8fd1227a022dfe59858d4c5\" tg-width=\"699\" tg-height=\"523\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> So the SPX chart is still positive, but there is a McMillan Volatility Band (MVB) sell signal in place (green “S” on chart).</p><p><blockquote>因此，SPX图表仍然是积极的，但有一个麦克米兰波动带（MVB）卖出信号（图表上的绿色“S”）。</blockquote></p><p> Now let’s look at some of the indicators that encompass a larger number of stocks. You will see that they are far less positive. First are the equity-only put-call ratios. These have been rising for a month, meaning they have been on sell signals during that time. Put volume has been heavy, relative to call volume, and that is what is causing these ratios to rise. It looks like there is a slight “wiggle” in the standard ratio’s chart, but the computer analysis programs say that is not significant.</p><p><blockquote>现在让我们看看一些包含大量股票的指标。你会发现他们远没有那么积极。首先是仅股票的看跌看涨期权比率。这些价格已经上涨了一个月，这意味着在此期间它们一直在发出卖出信号。相对于看涨期权交易量，看跌交易量一直很大，这就是导致这些比率上升的原因。看起来标准比率的图表中有轻微的“波动”，但计算机分析程序说这并不显著。</blockquote></p><p> The larger picture here is that as many stocks have been declining, option traders have been buying puts on those stocks, forcing these equity-only put-call ratios higher. As long as the ratios are rising, they will remain on sell signals.</p><p><blockquote>这里更大的情况是，随着许多股票下跌，期权交易者一直在购买这些股票的看跌期权，迫使这些仅股票的看跌期权与看涨期权比率走高。只要比率上升，它们就会保持卖出信号。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/87099f2be31d9ce51b1b0c4708a9f046\" tg-width=\"699\" tg-height=\"535\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f08da61f702fd9abb483cd1d8f5b4ba\" tg-width=\"700\" tg-height=\"523\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> Market breadth (advances minus declines) has been woeful since mid-June. That is, most stocks are going down, even though SPX is going up. In fact, what is driving this market is a handful of large-cap NASDAQ stocks (the FAANG stocks plus Microsoft are the strongest stocks).</p><p><blockquote>自6月中旬以来，市场广度（上涨减去下跌）一直很糟糕。也就是说，大多数股票都在下跌，尽管SPX在上涨。事实上，推动这个市场的是少数大盘股纳斯达克股票（FAANG股票加上微软是最强的股票）。</blockquote></p><p> Things have improved a little in the last couple of weeks, and so our breadth oscillators are on buy signals, but they are still in negative territory. Normally when SPX is making new all-time highs, the breadth oscillators are will into positive territory, reflecting a strong overall market. But that is not the case now.</p><p><blockquote>过去几周情况有所改善，因此我们的宽度振荡器发出买入信号，但仍处于负值区域。通常情况下，当SPX创下历史新高时，宽度振荡指标将进入正值区域，反映出整体市场强劲。但现在情况并非如此。</blockquote></p><p> Moreover, cumulative breadth (the running total of daily advances minus declines) has not made a new all-time high since June 11. SPX has made a new closing or intraday high on 19 separate trading days since then. That is a huge, negative market divergence, but it alone is not a sell signal. Rather, it is a strong warning to be alert – to avoid complacency.</p><p><blockquote>此外，自6月11日以来，累计广度（每日涨幅减去跌幅）尚未创下历史新高。此后，SPX已连续19个交易日创下收盘或盘中新高。这是一个巨大的负面市场背离，但它本身并不是卖出信号。相反，这是一个强烈的警告，要保持警惕——避免自满。</blockquote></p><p> New 52-week highs on the NYSE continue to lead new 52-week lows. Recently, there have been some isolated days where new lows exceeded new highs using NASDAQ or “stocks only” data, but not when using NYSE data. That means this indicator remains bullish for stocks. It would turn negative if NYSE new lows exceeded new highs and were sufficiently large, but that has not happened.</p><p><blockquote>纽交所52周新高继续领涨52周新低。最近，有一些孤立的日子，使用纳斯达克或“仅股票”数据，新低超过新高，但使用纽约证券交易所数据时则不然。这意味着该指标仍然看涨股市。如果纽交所新低超过新高且足够大，则会转为负值，但这种情况并未发生。</blockquote></p><p> There is a realized volatility sell signal in place, as well. That occurred when the S&amp;P’s 20-day historical volatility first fell below 8% (in mid-June) and then later rose above 11% (in late July).</p><p><blockquote>还有一个已实现的波动性卖出信号。这发生在标准普尔20天历史波动率首先跌破8%（6月中旬），然后升至11%以上（7月下旬）。</blockquote></p><p> Implied volatility, on the other hand, remains in a bullish state, as far the stock market is concerned. The VIX “spike peak” buy signal of July 20 remains in place. Moreover, the VIX 200-day moving average is still declining and is well above the price of VIX.There has been a slow “creep” upward by VIX, from 15 to 19 over the last month, but that doesn’t appear to be a significant change of trend.</p><p><blockquote>另一方面，就股市而言，隐含波动率仍处于看涨状态。7月20日的VIX“峰值”买入信号仍然存在。而且，VIX 200日均线仍在下降，远高于VIX的价格。上个月，VIX指数从15点缓慢“攀升”至19点，但这似乎并不是趋势的重大变化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e3501a851250cf90d4f08e0152a5d9a9\" tg-width=\"700\" tg-height=\"524\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p></p><p> Finally, the construct of volatility derivatives remains positive for the stock market. The VIX futures are trading at a premium to VIX, and the term structures of those VIX futures and the CBOE Volatility Indices slope upward.</p><p><blockquote>最后，波动性衍生品的结构对股市仍然有利。VIX期货的交易价格高于VIX，这些VIX期货和CBOE波动率指数的期限结构向上倾斜。</blockquote></p><p> The SPX chart is still positive. That is the most important fact. Until that changes, a long “core” position is recommended. Around that, one can trade confirmed signals – both buy and sell. A violation of the 4370 area by SPX would change things for the negative, but a breakout to new all-time highs above 4430 would reinforce the bullish case.</p><p><blockquote>SPX图表仍然是积极的。这是最重要的事实。在这种情况发生变化之前，建议持有多头“核心”头寸。围绕这一点，人们可以交易确认的信号——买入和卖出。SPX突破4370区域将改变负面影响，但突破4430以上的历史新高将强化看涨理由。</blockquote></p><p> <b>New recommendation: Conditional SPX sell signal</b></p><p><blockquote><b>新建议：有条件SPX卖出信号</b></blockquote></p><p> Based on the above article, we are going to lay out some parameters regarding taking a bearish position should SPX support be broken:</p><p><blockquote>根据上述文章，我们将列出一些有关在SPX支撑位被突破时采取看跌头寸的参数：</blockquote></p><p> <b>IF SPX trades below 4370 and stays there for an hour,</b></p><p><blockquote><b>如果SPX低于4370并在那里停留一小时，</b></blockquote></p><p> <b>THEN buy 1 SPY Aug (27th) at-the-money put</b></p><p><blockquote><b>然后买入1 SPDR标普500指数ETF 8月（27日）平价看跌期权</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And sell 1 SPY Aug (27th) put with a striking price 25 points lower.</b></p><p><blockquote><b>并以下跌25点的价格卖出1 SPDR标普500指数ETF 8月（27日）看跌期权。</b></blockquote></p><p> In addition,</p><p><blockquote>此外，</blockquote></p><p> <b>IF SPX closes below 4370,</b></p><p><blockquote><b>如果SPX收盘低于4370，</b></blockquote></p><p> <b>THEN buy another bear spread:</b></p><p><blockquote><b>然后再买一个熊市价差：</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buy 1 (more) SPY Aug (27th) at-the-money put</b></p><p><blockquote><b>购买1（更多）SPDR标普500指数ETF 8月（27日）平价看跌期权</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And sell 1 (more) SPY Aug (27th) put with a striking price 25 points lower.</b></p><p><blockquote><b>并以较低25点的价格卖出1（更多）SPDR标普500指数ETF 8月（27日）看跌期权。</b></blockquote></p><p> Note that it is possible that the second condition (close below 4370) could occur without the first condition being satisfied (if SPX breaks below 4370 late in a trading day). If that is the case, then buy 2 of these spreads on the close.</p><p><blockquote>请注意，在没有满足第一个条件的情况下，第二个条件（收盘低于4370）可能会发生（如果SPX在交易日晚些时候跌破4370）。如果是这样的话，那么在收盘时买入2个这样的价差。</blockquote></p><p> Finally, if these spreads are established, stop yourself out of all of these bear spreads on an SPX close above 4430.</p><p><blockquote>最后，如果这些价差成立，请在SPX收盘价高于4430时停止所有这些熊市价差。</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>The S&P 500 looks strong — but these ‘internals’ are far less positive<blockquote>标普500看起来很强劲——但这些“内部因素”远没有那么积极</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\">\nThe S&P 500 looks strong — but these ‘internals’ are far less positive<blockquote>标普500看起来很强劲——但这些“内部因素”远没有那么积极</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-06 12:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 index continues to accelerate to the upside. A new all-time closing high was registered on Tuesday. Yet, the “internals” of the market remain in a far worse state. This has been the case for some time (since June 11, at least), and it may continue to be the case for a while longer.</p><p><blockquote>标普500指数继续加速上行。周二创下历史收盘新高。然而，市场的“内部”仍然处于更糟糕的状态。这种情况已经持续了一段时间（至少自6月11日以来），而且这种情况可能会持续一段时间。</blockquote></p><p> But as long as the S&amp;P&nbsp;chart is positive and above support, a “core” long position is recommended.</p><p><blockquote>但只要标普图表为正且高于支撑位，建议建立“核心”多头头寸。</blockquote></p><p> The first support level is now roughly 4370. That was the low on the two most recent days on which SPX sold off and then rebounded – July 27 and Tuesday (yes, the same day that SPX bounced back from that level and then closed at a new all-time high). Since it has been doubly tested, that makes it a viable support level. There is resistance at 4430, the all-time intraday high.</p><p><blockquote>第一支撑位现在大致在4370。这是SPX抛售然后反弹的最近两天的低点——7月27日和周二（是的，同一天SPX从该水平反弹，然后收于历史新高）。由于它已经过双重测试，这使它成为一个可行的支撑位。盘中历史高点4430有阻力。</blockquote></p><p> You can see from the accompanying chart that SPX has been in a rather right trading since July 23 – between 4370 and 4430.</p><p><blockquote>你可以从附图中看到，自7月23日以来，SPX一直处于相当正确的交易状态——在4370到4430之间。</blockquote></p><p> A breakout from that range will be significant. If it were to break to the downside, that would be a negative for the SPX chart. Below there, a major support area exists at 4233, and it would likely be tested quickly after a break below 4370.</p><p><blockquote>突破该范围将具有重要意义。如果它向下突破，这将对SPX图表不利。在此下方，主要支撑区域位于4233点，跌破4370点后可能会很快受到测试。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8fde9899a8fd1227a022dfe59858d4c5\" tg-width=\"699\" tg-height=\"523\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> So the SPX chart is still positive, but there is a McMillan Volatility Band (MVB) sell signal in place (green “S” on chart).</p><p><blockquote>因此，SPX图表仍然是积极的，但有一个麦克米兰波动带（MVB）卖出信号（图表上的绿色“S”）。</blockquote></p><p> Now let’s look at some of the indicators that encompass a larger number of stocks. You will see that they are far less positive. First are the equity-only put-call ratios. These have been rising for a month, meaning they have been on sell signals during that time. Put volume has been heavy, relative to call volume, and that is what is causing these ratios to rise. It looks like there is a slight “wiggle” in the standard ratio’s chart, but the computer analysis programs say that is not significant.</p><p><blockquote>现在让我们看看一些包含大量股票的指标。你会发现他们远没有那么积极。首先是仅股票的看跌看涨期权比率。这些价格已经上涨了一个月，这意味着在此期间它们一直在发出卖出信号。相对于看涨期权交易量，看跌交易量一直很大，这就是导致这些比率上升的原因。看起来标准比率的图表中有轻微的“波动”，但计算机分析程序说这并不显著。</blockquote></p><p> The larger picture here is that as many stocks have been declining, option traders have been buying puts on those stocks, forcing these equity-only put-call ratios higher. As long as the ratios are rising, they will remain on sell signals.</p><p><blockquote>这里更大的情况是，随着许多股票下跌，期权交易者一直在购买这些股票的看跌期权，迫使这些仅股票的看跌期权与看涨期权比率走高。只要比率上升，它们就会保持卖出信号。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/87099f2be31d9ce51b1b0c4708a9f046\" tg-width=\"699\" tg-height=\"535\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f08da61f702fd9abb483cd1d8f5b4ba\" tg-width=\"700\" tg-height=\"523\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> Market breadth (advances minus declines) has been woeful since mid-June. That is, most stocks are going down, even though SPX is going up. In fact, what is driving this market is a handful of large-cap NASDAQ stocks (the FAANG stocks plus Microsoft are the strongest stocks).</p><p><blockquote>自6月中旬以来，市场广度（上涨减去下跌）一直很糟糕。也就是说，大多数股票都在下跌，尽管SPX在上涨。事实上，推动这个市场的是少数大盘股纳斯达克股票（FAANG股票加上微软是最强的股票）。</blockquote></p><p> Things have improved a little in the last couple of weeks, and so our breadth oscillators are on buy signals, but they are still in negative territory. Normally when SPX is making new all-time highs, the breadth oscillators are will into positive territory, reflecting a strong overall market. But that is not the case now.</p><p><blockquote>过去几周情况有所改善，因此我们的宽度振荡器发出买入信号，但仍处于负值区域。通常情况下，当SPX创下历史新高时，宽度振荡指标将进入正值区域，反映出整体市场强劲。但现在情况并非如此。</blockquote></p><p> Moreover, cumulative breadth (the running total of daily advances minus declines) has not made a new all-time high since June 11. SPX has made a new closing or intraday high on 19 separate trading days since then. That is a huge, negative market divergence, but it alone is not a sell signal. Rather, it is a strong warning to be alert – to avoid complacency.</p><p><blockquote>此外，自6月11日以来，累计广度（每日涨幅减去跌幅）尚未创下历史新高。此后，SPX已连续19个交易日创下收盘或盘中新高。这是一个巨大的负面市场背离，但它本身并不是卖出信号。相反，这是一个强烈的警告，要保持警惕——避免自满。</blockquote></p><p> New 52-week highs on the NYSE continue to lead new 52-week lows. Recently, there have been some isolated days where new lows exceeded new highs using NASDAQ or “stocks only” data, but not when using NYSE data. That means this indicator remains bullish for stocks. It would turn negative if NYSE new lows exceeded new highs and were sufficiently large, but that has not happened.</p><p><blockquote>纽交所52周新高继续领涨52周新低。最近，有一些孤立的日子，使用纳斯达克或“仅股票”数据，新低超过新高，但使用纽约证券交易所数据时则不然。这意味着该指标仍然看涨股市。如果纽交所新低超过新高且足够大，则会转为负值，但这种情况并未发生。</blockquote></p><p> There is a realized volatility sell signal in place, as well. That occurred when the S&amp;P’s 20-day historical volatility first fell below 8% (in mid-June) and then later rose above 11% (in late July).</p><p><blockquote>还有一个已实现的波动性卖出信号。这发生在标准普尔20天历史波动率首先跌破8%（6月中旬），然后升至11%以上（7月下旬）。</blockquote></p><p> Implied volatility, on the other hand, remains in a bullish state, as far the stock market is concerned. The VIX “spike peak” buy signal of July 20 remains in place. Moreover, the VIX 200-day moving average is still declining and is well above the price of VIX.There has been a slow “creep” upward by VIX, from 15 to 19 over the last month, but that doesn’t appear to be a significant change of trend.</p><p><blockquote>另一方面，就股市而言，隐含波动率仍处于看涨状态。7月20日的VIX“峰值”买入信号仍然存在。而且，VIX 200日均线仍在下降，远高于VIX的价格。上个月，VIX指数从15点缓慢“攀升”至19点，但这似乎并不是趋势的重大变化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e3501a851250cf90d4f08e0152a5d9a9\" tg-width=\"700\" tg-height=\"524\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p></p><p> Finally, the construct of volatility derivatives remains positive for the stock market. The VIX futures are trading at a premium to VIX, and the term structures of those VIX futures and the CBOE Volatility Indices slope upward.</p><p><blockquote>最后，波动性衍生品的结构对股市仍然有利。VIX期货的交易价格高于VIX，这些VIX期货和CBOE波动率指数的期限结构向上倾斜。</blockquote></p><p> The SPX chart is still positive. That is the most important fact. Until that changes, a long “core” position is recommended. Around that, one can trade confirmed signals – both buy and sell. A violation of the 4370 area by SPX would change things for the negative, but a breakout to new all-time highs above 4430 would reinforce the bullish case.</p><p><blockquote>SPX图表仍然是积极的。这是最重要的事实。在这种情况发生变化之前，建议持有多头“核心”头寸。围绕这一点，人们可以交易确认的信号——买入和卖出。SPX突破4370区域将改变负面影响，但突破4430以上的历史新高将强化看涨理由。</blockquote></p><p> <b>New recommendation: Conditional SPX sell signal</b></p><p><blockquote><b>新建议：有条件SPX卖出信号</b></blockquote></p><p> Based on the above article, we are going to lay out some parameters regarding taking a bearish position should SPX support be broken:</p><p><blockquote>根据上述文章，我们将列出一些有关在SPX支撑位被突破时采取看跌头寸的参数：</blockquote></p><p> <b>IF SPX trades below 4370 and stays there for an hour,</b></p><p><blockquote><b>如果SPX低于4370并在那里停留一小时，</b></blockquote></p><p> <b>THEN buy 1 SPY Aug (27th) at-the-money put</b></p><p><blockquote><b>然后买入1 SPDR标普500指数ETF 8月（27日）平价看跌期权</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And sell 1 SPY Aug (27th) put with a striking price 25 points lower.</b></p><p><blockquote><b>并以下跌25点的价格卖出1 SPDR标普500指数ETF 8月（27日）看跌期权。</b></blockquote></p><p> In addition,</p><p><blockquote>此外，</blockquote></p><p> <b>IF SPX closes below 4370,</b></p><p><blockquote><b>如果SPX收盘低于4370，</b></blockquote></p><p> <b>THEN buy another bear spread:</b></p><p><blockquote><b>然后再买一个熊市价差：</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buy 1 (more) SPY Aug (27th) at-the-money put</b></p><p><blockquote><b>购买1（更多）SPDR标普500指数ETF 8月（27日）平价看跌期权</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And sell 1 (more) SPY Aug (27th) put with a striking price 25 points lower.</b></p><p><blockquote><b>并以较低25点的价格卖出1（更多）SPDR标普500指数ETF 8月（27日）看跌期权。</b></blockquote></p><p> Note that it is possible that the second condition (close below 4370) could occur without the first condition being satisfied (if SPX breaks below 4370 late in a trading day). If that is the case, then buy 2 of these spreads on the close.</p><p><blockquote>请注意，在没有满足第一个条件的情况下，第二个条件（收盘低于4370）可能会发生（如果SPX在交易日晚些时候跌破4370）。如果是这样的话，那么在收盘时买入2个这样的价差。</blockquote></p><p> Finally, if these spreads are established, stop yourself out of all of these bear spreads on an SPX close above 4430.</p><p><blockquote>最后，如果这些价差成立，请在SPX收盘价高于4430时停止所有这些熊市价差。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-s-p-500-looks-strong-but-these-internals-are-far-less-positive-01628176855?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":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/the-s-p-500-looks-strong-but-these-internals-are-far-less-positive-01628176855?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199377263","content_text":"The S&P 500 index continues to accelerate to the upside. A new all-time closing high was registered on Tuesday. Yet, the “internals” of the market remain in a far worse state. This has been the case for some time (since June 11, at least), and it may continue to be the case for a while longer.\nBut as long as the S&P chart is positive and above support, a “core” long position is recommended.\nThe first support level is now roughly 4370. That was the low on the two most recent days on which SPX sold off and then rebounded – July 27 and Tuesday (yes, the same day that SPX bounced back from that level and then closed at a new all-time high). Since it has been doubly tested, that makes it a viable support level. There is resistance at 4430, the all-time intraday high.\nYou can see from the accompanying chart that SPX has been in a rather right trading since July 23 – between 4370 and 4430.\nA breakout from that range will be significant. If it were to break to the downside, that would be a negative for the SPX chart. Below there, a major support area exists at 4233, and it would likely be tested quickly after a break below 4370.\nLAWRENCE MCMILLAN\nSo the SPX chart is still positive, but there is a McMillan Volatility Band (MVB) sell signal in place (green “S” on chart).\nNow let’s look at some of the indicators that encompass a larger number of stocks. You will see that they are far less positive. First are the equity-only put-call ratios. These have been rising for a month, meaning they have been on sell signals during that time. Put volume has been heavy, relative to call volume, and that is what is causing these ratios to rise. It looks like there is a slight “wiggle” in the standard ratio’s chart, but the computer analysis programs say that is not significant.\nThe larger picture here is that as many stocks have been declining, option traders have been buying puts on those stocks, forcing these equity-only put-call ratios higher. As long as the ratios are rising, they will remain on sell signals.\nLAWRENCE MCMILLAN\nLAWRENCE MCMILLAN\nMarket breadth (advances minus declines) has been woeful since mid-June. That is, most stocks are going down, even though SPX is going up. In fact, what is driving this market is a handful of large-cap NASDAQ stocks (the FAANG stocks plus Microsoft are the strongest stocks).\nThings have improved a little in the last couple of weeks, and so our breadth oscillators are on buy signals, but they are still in negative territory. Normally when SPX is making new all-time highs, the breadth oscillators are will into positive territory, reflecting a strong overall market. But that is not the case now.\nMoreover, cumulative breadth (the running total of daily advances minus declines) has not made a new all-time high since June 11. SPX has made a new closing or intraday high on 19 separate trading days since then. That is a huge, negative market divergence, but it alone is not a sell signal. Rather, it is a strong warning to be alert – to avoid complacency.\nNew 52-week highs on the NYSE continue to lead new 52-week lows. Recently, there have been some isolated days where new lows exceeded new highs using NASDAQ or “stocks only” data, but not when using NYSE data. That means this indicator remains bullish for stocks. It would turn negative if NYSE new lows exceeded new highs and were sufficiently large, but that has not happened.\nThere is a realized volatility sell signal in place, as well. That occurred when the S&P’s 20-day historical volatility first fell below 8% (in mid-June) and then later rose above 11% (in late July).\nImplied volatility, on the other hand, remains in a bullish state, as far the stock market is concerned. The VIX “spike peak” buy signal of July 20 remains in place. Moreover, the VIX 200-day moving average is still declining and is well above the price of VIX.There has been a slow “creep” upward by VIX, from 15 to 19 over the last month, but that doesn’t appear to be a significant change of trend.\nLAWRENCE MCMILLAN\nFinally, the construct of volatility derivatives remains positive for the stock market. The VIX futures are trading at a premium to VIX, and the term structures of those VIX futures and the CBOE Volatility Indices slope upward.\nThe SPX chart is still positive. That is the most important fact. Until that changes, a long “core” position is recommended. Around that, one can trade confirmed signals – both buy and sell. A violation of the 4370 area by SPX would change things for the negative, but a breakout to new all-time highs above 4430 would reinforce the bullish case.\nNew recommendation: Conditional SPX sell signal\nBased on the above article, we are going to lay out some parameters regarding taking a bearish position should SPX support be broken:\nIF SPX trades below 4370 and stays there for an hour,\nTHEN buy 1 SPY Aug (27th) at-the-money put\n            And sell 1 SPY Aug (27th) put with a striking price 25 points lower.\nIn addition,\nIF SPX closes below 4370,\nTHEN buy another bear spread:\n            Buy 1 (more) SPY Aug (27th) at-the-money put\n            And sell 1 (more) SPY Aug (27th) put with a striking price 25 points lower.\nNote that it is possible that the second condition (close below 4370) could occur without the first condition being satisfied (if SPX breaks below 4370 late in a trading day). If that is the case, then buy 2 of these spreads on the close.\nFinally, if these spreads are established, stop yourself out of all of these bear spreads on an SPX close above 4430.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1904,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890783667,"gmtCreate":1628134212659,"gmtModify":1633753246776,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890783667","repostId":"2157483930","repostType":4,"isVote":1,"tweetType":1,"viewCount":1762,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805609418,"gmtCreate":1627873150134,"gmtModify":1633755721999,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Noted","listText":"Noted","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805609418","repostId":"1170689665","repostType":4,"repost":{"id":"1170689665","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627857540,"share":"https://www.laohu8.com/m/news/1170689665?lang=zh_CN&edition=full","pubTime":"2021-08-02 06:39","market":"us","language":"en","title":"Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170689665","media":"Tiger Newspress","summary":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Dig","content":"<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩本周继续公布。除了数百家小盘股外，至少有143家标普500公司即将发布报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software和Simon Property Group将于周一开始行动。随后，Lyft、阿里巴巴-SW集团控股、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、Uber Technologies、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银都有报告。Beyond Meat、Yelp、Wayfair、Moderna和ViacomCBS将于周四上市，DraftKings、Canopy Growth和Tripadvisor将于周五结束本周。中国教育企业新东方教育科技集团有限公司和好未来教育集团取消原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局预计7月份非农就业人数将增加625,000人，而6月份为850,000人。失业率预计将保持在6%以下。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的7月份制造业采购经理人指数，随后是周三公布的服务业采购经理人指数。这两项经济活动指标预计都在61左右，这意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett&amp;Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、喜力、Trex、法拉利、Ultra Clean Holdings和Simon Property Group预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股104美元，周五收盘价为12.95美元。该公司周五晚上完成了8股1股的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布7月份制造业采购经理人指数。普遍预期为60.8，高于6月份的60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份建筑支出。继5月份下降0.3%后，预计环比增长0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>Eaton、BP、Under Armour、Lyft、Clorox、Amgen、Akamai Technologies、Cummins、Eli Lilly、阿里巴巴-SW集团控股、Nikola、EnPro Industries、Warner Music Group、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、Dun&amp;Bradstreet Holdings、ConocoPhillips和Jacobs Engineering Group在评级召开会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告6月份的工厂订单。经济学家预测当月订单增长1.0%，而5月份为增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>Sony Group、CVS Health、卡夫亨氏、软银、General Motors、Progressive、Etsy、Electronic Arts、Western Digital、Uber Technologies、Roku、MGM Resorts International、Fox和Re/Max Holdings预计将举行财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告7月份轻型汽车销量。预计看涨期权经季节调整后的年产量为1530万辆，而6月份为1540万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业PMI。普遍预期为60.8，而6月份为60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>七月份全国就业报告。市场普遍估计非农私营部门就业人数将增加635,000人，6月份增加692,000人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman&amp;Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>美国劳工统计局发布就业报告</b>为了七月。经济学家预测，继6月份非农就业人数增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、猫途鹰、Spectrum Brands Holdings、E.WScripps、Cinemark Holdings和Manitowoc在评级主办会议讨论财务业绩。</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>Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</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\">\nAlibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-02 06:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩本周继续公布。除了数百家小盘股外，至少有143家标普500公司即将发布报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software和Simon Property Group将于周一开始行动。随后，Lyft、阿里巴巴-SW集团控股、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、Uber Technologies、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银都有报告。Beyond Meat、Yelp、Wayfair、Moderna和ViacomCBS将于周四上市，DraftKings、Canopy Growth和Tripadvisor将于周五结束本周。中国教育企业新东方教育科技集团有限公司和好未来教育集团取消原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局预计7月份非农就业人数将增加625,000人，而6月份为850,000人。失业率预计将保持在6%以下。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的7月份制造业采购经理人指数，随后是周三公布的服务业采购经理人指数。这两项经济活动指标预计都在61左右，这意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett&amp;Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、喜力、Trex、法拉利、Ultra Clean Holdings和Simon Property Group预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股104美元，周五收盘价为12.95美元。该公司周五晚上完成了8股1股的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布7月份制造业采购经理人指数。普遍预期为60.8，高于6月份的60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份建筑支出。继5月份下降0.3%后，预计环比增长0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>Eaton、BP、Under Armour、Lyft、Clorox、Amgen、Akamai Technologies、Cummins、Eli Lilly、阿里巴巴-SW集团控股、Nikola、EnPro Industries、Warner Music Group、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、Dun&amp;Bradstreet Holdings、ConocoPhillips和Jacobs Engineering Group在评级召开会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告6月份的工厂订单。经济学家预测当月订单增长1.0%，而5月份为增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>Sony Group、CVS Health、卡夫亨氏、软银、General Motors、Progressive、Etsy、Electronic Arts、Western Digital、Uber Technologies、Roku、MGM Resorts International、Fox和Re/Max Holdings预计将举行财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告7月份轻型汽车销量。预计看涨期权经季节调整后的年产量为1530万辆，而6月份为1540万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业PMI。普遍预期为60.8，而6月份为60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>七月份全国就业报告。市场普遍估计非农私营部门就业人数将增加635,000人，6月份增加692,000人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman&amp;Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>美国劳工统计局发布就业报告</b>为了七月。经济学家预测，继6月份非农就业人数增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、猫途鹰、Spectrum Brands Holdings、E.WScripps、Cinemark Holdings和Manitowoc在评级主办会议讨论财务业绩。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EA":"艺电",".DJI":"道琼斯",".SPX":"S&P 500 Index","DKNG":"DraftKings Inc.","BABA":"阿里巴巴","GE":"GE航空航天","ROKU":"Roku Inc",".IXIC":"NASDAQ Composite","GM":"通用汽车","UBER":"优步"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170689665","content_text":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.\nWednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and ViacomCBS go on Thursday and DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation New Oriental Education & Technology Group Inc. and TAL Education Group cancels scheduled earnings release and earnings call.\n\nThe highlight on the economic calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.\nOther data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.\nMonday 8/2\nCNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett & Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.\nGE stock will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.\nThe Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.\nThe Census Bureau reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.\nTuesday 8/3\nEaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun & Bradstreet Holdings,ConocoPhillips, and Jacobs Engineering Grouphost conference calls to discuss financial results.\nThe Census Bureau is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.\nWednesday 8/4\nSony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.\nThe Bureau of Economic Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.\nThe ISM releases its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.\nADP releases its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.\nThursday 8/5\nZillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman & Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and Siemensare expected to report financial results.\nFriday 8/6\nThe BLS releases the jobs report for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.\nDraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.","news_type":1,"symbols_score_info":{"ROKU":0.9,".IXIC":0.9,"EA":0.9,"UBER":0.9,"DKNG":0.9,"VIAC":0.9,"BABA":0.9,".DJI":0.9,"GM":0.9,"GE":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1764,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802629638,"gmtCreate":1627777899124,"gmtModify":1633756551375,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"True????","listText":"True????","text":"True????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/802629638","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohu8.com/m/news/1147779023?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键经验教训。</b>投资是一场艰苦的游戏。这就是为什么如此多的共同基金落后于其指数。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你找到一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>专注于美国世纪的动态增长基金符合这一要求。据晨星公司称，这只价值28亿美元的基金在过去三年和五年的年化收益比罗素1000增长指数高出6个百分点以上。五年来，它的年化表现比高增长类别高出8.6个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由Prabha Ram共同管理，我最近采访了他。拉姆在印度长大，来到美国，在缅因大学担任助教，并在那里获得了计算机科学硕士学位。她后来在宾夕法尼亚大学沃顿商学院获得了MBA学位。Ram和其他三位投资组合经理自2016年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的示例。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1.拥有能在大市场“落地扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司仍然在纸上做大部分业务。Bill.comBill想要改变这一点。该公司由首席执行官RenéLacerte创立，他在20世纪90年代末创办了在线薪资公司PayCycle，该公司被Intuit收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com帮助小公司实现应付账款和应收账款的数字化。但这仅仅是个开始。一旦进入公司内部，Bill.com就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com“登陆并扩展”客户，但它也利用他们的商业伙伴来创建潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“每个供应商都是网络成员，即使它不是Bill.com客户，”Ram说。这个网络大约有250万成员。Bill.com还从其合作伙伴那里获得了潜在客户，包括美国银行BAC、摩根大通JP和美国运通XP。第一季度销售额增长45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们往往表现出色。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2.寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>Ram的投资组合中包含明显的创新者，包括TeslaTSLA、Amazon.comAMZN和AlphabetGOOGL，这是她的前三名。让我们超越技术，看看啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在20世纪80年代，波士顿啤酒创始人吉姆·科赫(Jim Koch)从塞缪尔·亚当斯(Samuel Adams)开始推出成功的“精酿”啤酒，开始从啤酒巨头安海斯-布希(Anheuser-Busch InbevBUD)和喜力海尼(Heinekenheiny)手中夺取份额。科赫帮助发明了精酿啤酒类别，基本上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味生产更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在2015年至2017年期间因啤酒销量整体持平而陷入停滞。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们被这家公司吸引是因为它的创新历史，”拉姆在谈到她的基金2016年第二季度的早期头寸时说道。“由于啤酒市场趋于平缓，该股表现不佳，但他们推出了真正的硬苏打水。真正的苏打水比我们预期的更成功。它创造了一个新的类别。”</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒对创新的热情帮助拉姆的基金得以保留。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去表现出创新能力的人领导的公司。创新型管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们押注他们会再次成功。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。由于众多竞争对手进入烈性苹果酒领域，波士顿啤酒股价7月23日下跌20%。由于该公司提高了广告成本以对抗竞争，销售额增长了33%，但净利润下降了1.6%。由于预计销售增长放缓，该公司大幅下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但还不要排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>波士顿啤酒的科赫表示：“我们最近宣布计划与Beam Suntory合作开发新的创新饮料，计划于2022年初推出。”Beam Suntory销售Jim Beam威士忌和其他品牌的烈酒。“我们相信，随着饮酒者偏好的变化，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3.寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不真正关心当地的瑜伽教练是否可以接受信用卡付款。SquareSQ认为这是一个机会。于是在2009年推出了卡支付设备业务。从那时起，它通过接纳更大的客户并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而实现了增长。第一季度基于交易的收入增长了27%，订阅和服务收入飙升了88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一家公司创造商业利基的一个很好的例子。但它也是一家“土地和扩张”的公司，因为它通过向客户提供新服务来发展。这两种品质都有助于公司保持拉姆喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4.买入快速成长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一种方法是识别开发将改变整个行业的产品的公司。Ram认为Alnylam PharmaceuticalsALNY的情况就是如此。它正在开发基于RNA干扰（RNAi）技术的新疗法。在体内，信使RNA（mRNA）根据来自RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种获得批准的基于RNAi的药物，用于治疗罕见的遗传性疾病。该公司还有十几种其他疗法处于临床研究中，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“这是一个全新的治疗领域，”拉姆说。“它是一个可以治疗多种疾病的产品平台。”</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>上述所有名字都是拉姆基金中的大量头寸，这告诉我拉姆和她的团队认为他们有更大的上涨空间。不过，如果您购买其中任何一款，请记住您必须在多年的时间范围内购买。拉姆的基金就是这么做的。它的年投资组合周转率较低，为27%。有长远的眼光很重要，因为看涨期权股市或股票的短期走势非常困难，你需要给公司发展的时间。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键经验教训。</b>投资是一场艰苦的游戏。这就是为什么如此多的共同基金落后于其指数。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你找到一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>专注于美国世纪的动态增长基金符合这一要求。据晨星公司称，这只价值28亿美元的基金在过去三年和五年的年化收益比罗素1000增长指数高出6个百分点以上。五年来，它的年化表现比高增长类别高出8.6个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由Prabha Ram共同管理，我最近采访了他。拉姆在印度长大，来到美国，在缅因大学担任助教，并在那里获得了计算机科学硕士学位。她后来在宾夕法尼亚大学沃顿商学院获得了MBA学位。Ram和其他三位投资组合经理自2016年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的示例。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1.拥有能在大市场“落地扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司仍然在纸上做大部分业务。Bill.comBill想要改变这一点。该公司由首席执行官RenéLacerte创立，他在20世纪90年代末创办了在线薪资公司PayCycle，该公司被Intuit收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com帮助小公司实现应付账款和应收账款的数字化。但这仅仅是个开始。一旦进入公司内部，Bill.com就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com“登陆并扩展”客户，但它也利用他们的商业伙伴来创建潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“每个供应商都是网络成员，即使它不是Bill.com客户，”Ram说。这个网络大约有250万成员。Bill.com还从其合作伙伴那里获得了潜在客户，包括美国银行BAC、摩根大通JP和美国运通XP。第一季度销售额增长45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们往往表现出色。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2.寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>Ram的投资组合中包含明显的创新者，包括TeslaTSLA、Amazon.comAMZN和AlphabetGOOGL，这是她的前三名。让我们超越技术，看看啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在20世纪80年代，波士顿啤酒创始人吉姆·科赫(Jim Koch)从塞缪尔·亚当斯(Samuel Adams)开始推出成功的“精酿”啤酒，开始从啤酒巨头安海斯-布希(Anheuser-Busch InbevBUD)和喜力海尼(Heinekenheiny)手中夺取份额。科赫帮助发明了精酿啤酒类别，基本上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味生产更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在2015年至2017年期间因啤酒销量整体持平而陷入停滞。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们被这家公司吸引是因为它的创新历史，”拉姆在谈到她的基金2016年第二季度的早期头寸时说道。“由于啤酒市场趋于平缓，该股表现不佳，但他们推出了真正的硬苏打水。真正的苏打水比我们预期的更成功。它创造了一个新的类别。”</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒对创新的热情帮助拉姆的基金得以保留。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去表现出创新能力的人领导的公司。创新型管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们押注他们会再次成功。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。由于众多竞争对手进入烈性苹果酒领域，波士顿啤酒股价7月23日下跌20%。由于该公司提高了广告成本以对抗竞争，销售额增长了33%，但净利润下降了1.6%。由于预计销售增长放缓，该公司大幅下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但还不要排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>波士顿啤酒的科赫表示：“我们最近宣布计划与Beam Suntory合作开发新的创新饮料，计划于2022年初推出。”Beam Suntory销售Jim Beam威士忌和其他品牌的烈酒。“我们相信，随着饮酒者偏好的变化，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3.寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不真正关心当地的瑜伽教练是否可以接受信用卡付款。SquareSQ认为这是一个机会。于是在2009年推出了卡支付设备业务。从那时起，它通过接纳更大的客户并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而实现了增长。第一季度基于交易的收入增长了27%，订阅和服务收入飙升了88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一家公司创造商业利基的一个很好的例子。但它也是一家“土地和扩张”的公司，因为它通过向客户提供新服务来发展。这两种品质都有助于公司保持拉姆喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4.买入快速成长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一种方法是识别开发将改变整个行业的产品的公司。Ram认为Alnylam PharmaceuticalsALNY的情况就是如此。它正在开发基于RNA干扰（RNAi）技术的新疗法。在体内，信使RNA（mRNA）根据来自RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种获得批准的基于RNAi的药物，用于治疗罕见的遗传性疾病。该公司还有十几种其他疗法处于临床研究中，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“这是一个全新的治疗领域，”拉姆说。“它是一个可以治疗多种疾病的产品平台。”</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>上述所有名字都是拉姆基金中的大量头寸，这告诉我拉姆和她的团队认为他们有更大的上涨空间。不过，如果您购买其中任何一款，请记住您必须在多年的时间范围内购买。拉姆的基金就是这么做的。它的年投资组合周转率较低，为27%。有长远的眼光很重要，因为看涨期权股市或股票的短期走势非常困难，你需要给公司发展的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1931,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806775312,"gmtCreate":1627696980136,"gmtModify":1633757038543,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"O no","listText":"O no","text":"O no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806775312","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":1798,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808448188,"gmtCreate":1627607868844,"gmtModify":1633757844248,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808448188","repostId":"2155184148","repostType":4,"isVote":1,"tweetType":1,"viewCount":2044,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803287122,"gmtCreate":1627441843066,"gmtModify":1633764938782,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/803287122","repostId":"2154991792","repostType":4,"isVote":1,"tweetType":1,"viewCount":535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177307228,"gmtCreate":1627179134364,"gmtModify":1633767440484,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/177307228","repostId":"2153938547","repostType":4,"repost":{"id":"2153938547","kind":"highlight","pubTimestamp":1627085070,"share":"https://www.laohu8.com/m/news/2153938547?lang=zh_CN&edition=full","pubTime":"2021-07-24 08:04","market":"us","language":"en","title":"What will Apple say about the next iPhone at earnings time? Maybe more than usual<blockquote>苹果在财报发布时会对下一代iPhone说些什么？也许比平时多</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2153938547","media":"MarketWatch","summary":"Apple earnings preview: Recent lack of quarterly forecasts could lead executives to divulge a few mo","content":"<p>Apple earnings preview: Recent lack of quarterly forecasts could lead executives to divulge a few more hints about the next iPhone release when discussing results Tuesday afternoon</p><p><blockquote>苹果财报预览：最近缺乏季度预测可能会导致高管在周二下午讨论业绩时透露更多有关下一次iPhone发布的暗示</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1694f71fa4dec194ef63e28ffc75776f\" tg-width=\"700\" tg-height=\"495\" width=\"100%\" height=\"auto\"><span>Heavy promotions in the wireless industry likely benefited Apple's business during the June quarter.</span></p><p><blockquote><p class=\"t-img-caption\"><span>无线行业的大力促销可能使苹果在第二季度的业务受益。</span></p></blockquote></p><p> The pandemic may add a wrinkle to the guessing game that normally accompanies Apple Inc.'s June-quarter conference call.</p><p><blockquote>这场大流行可能会给通常伴随苹果公司六月季度电话会议的猜谜游戏增添一丝皱纹。</blockquote></p><p> Typically the most important tidbit coming out of fiscal third-quarter earnings, which Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a> is scheduled to report Tuesday afternoon, is the company's outlook and commentary around its September-quarter revenue, which can hold clues as to what the company expects in the early days of its next smartphone launch. A strong forecast may imply that the company intends to make its new lineup available during the waning days of its fiscal year, while weaker guidance could suggest the launch will be pushed in to the calendar fourth quarter.</p><p><blockquote>通常最重要的花絮来自第三财季收益，苹果<a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>定于周二下午公布该公司对9月份季度收入的展望和评论，这可以为该公司在下一款智能手机发布初期的预期提供线索。强劲的预测可能意味着该公司打算在本财年的最后几天推出新产品线，而较弱的指引可能表明推出将推迟到第四季度。</blockquote></p><p> The problem this time around is that Apple has held off on issuing a formal outlook for more than a year amid the pandemic, and it remains unclear when or if the company will resume the practice. Apple has instead been offering \"directional insights\" to offer some indication of how its results could stack up to those of prior quarters, but it has been notoriously tight-lipped about plans for iPhone launches.</p><p><blockquote>这一次的问题是，苹果在疫情期间推迟发布正式展望一年多，目前尚不清楚该公司何时或是否会恢复这种做法。相反，苹果一直在提供“方向性见解”，以表明其业绩与前几个季度的业绩相比如何，但众所周知，它对iPhone发布计划守口如瓶。</blockquote></p><p> \"We expect the timing of iPhone 13 availability will ultimately prove to be the swing factor in [the fiscal fourth quarter], thus we anticipate the company will provide more granular directional commentary,\" wrote Monness, Crespi, Hardt &amp; Co. analyst Brian White.</p><p><blockquote>Monness、Crespi、Hardt&amp;Co.分析师Brian写道：“我们预计iPhone 13的上市时间最终将成为[第四财季]的摇摆因素，因此我们预计该公司将提供更精细的方向性评论。”怀特。</blockquote></p><p> The coming launch is of keen interest given that the current lineup has performed well. \"The iPhone 12 cycle has been strong but we believe the next two cycles may prove challenging with units potentially down [year over year] in FY22 and FY23,\" wrote Barclays analyst Tim Long.</p><p><blockquote>鉴于目前的阵容表现良好，即将推出的产品令人非常感兴趣。Barclays分析师Tim Long写道：“iPhone 12周期一直很强劲，但我们认为接下来的两个周期可能会充满挑战，2022财年和2023财年的销量可能会同比下降。”</blockquote></p><p> The June quarter that Apple will report Tuesday is traditionally a slower <a href=\"https://laohu8.com/S/AONE.U\">one</a>, as consumers wait for the next iPhone launch, but the company is still expected to deliver big growth in its smartphone business. Not only does the company have the benefit of easy comparisons to the early days of the pandemic, but it should also be reaping the rewards of an unusually promotional wireless industry.</p><p><blockquote>苹果将于周二公布的六月季度数据传统上较慢<a href=\"https://laohu8.com/S/AONE.U\">一</a>随着消费者等待下一款iPhone的发布，但该公司仍有望实现智能手机业务的大幅增长。该公司不仅可以轻松地与疫情早期进行比较，而且还应该从异常促销的无线行业中获得回报。</blockquote></p><p> <b>What to watch for</b></p><p><blockquote><b>注意什么</b></blockquote></p><p> <b>Earnings:</b> Analysts tracked by FactSet expect Apple to post $1.01 in earnings per share, up from 65 cents a year earlier. According to Estimize, which crowdsources projections from hedge funds, academics, and others, the average expectation is for $1.16 a share in EPS.</p><p><blockquote><b>收益：</b>FactSet追踪的分析师预计苹果每股收益为1.01美元，高于去年同期的65美分。根据Estimize（对冲基金、学者和其他人的众包预测）的数据，平均预期每股收益为1.16美元。</blockquote></p><p> <b>Revenue: </b>The FactSet consensus calls for $73.26 billion in overall revenue, up from $59.69 billion a year prior. On Estimize, the average estimate is for $77.38 billion.</p><p><blockquote><b>收入：</b>FactSet一致认为评级的总收入为732.6亿美元，高于一年前的596.9亿美元。根据Estimize，平均估计为773.8亿美元。</blockquote></p><p> On a segment level, analysts surveyed by FactSet project $34.19 billion in iPhone revenue, $7.17 billion in iPad revenue, $7.86 billion in Mac revenue, $16.26 billion in services revenue, and $7.83 billion in revenue for the wearables, home, and accessories category.</p><p><blockquote>在细分市场层面，FactSet调查的分析师预计iPhone收入为341.9亿美元，iPad收入为71.7亿美元，Mac收入为78.6亿美元，服务收入为162.6亿美元，可穿戴设备、家居和配件类别的收入为78.3亿美元。</blockquote></p><p> <b>Stock movement: </b>Apple shares have fallen after four of the past five earnings reports, though the stock is up 60% over the past 12 months as the Dow Jones Industrial Average has increased 32%.</p><p><blockquote><b>股票变动：</b>苹果股价在过去五份财报中的四份后下跌，尽管该股在过去12个月内上涨了60%，道琼斯工业平均指数上涨了32%。</blockquote></p><p> Of the 44 analysts tracked by FactSet who cover Apple's stock, 33 have buy ratings, nine have hold ratings and two have sell ratings, with an average price target of $157.88.</p><p><blockquote>FactSet追踪的44名研究苹果股票的分析师中，33名给予买入评级，9名给予持有评级，2名给予卖出评级，平均目标价为157.88美元。</blockquote></p><p> <b>What else to watch for</b></p><p><blockquote><b>还有什么值得注意的</b></blockquote></p><p> Apple's iPhone business is set up for its second-largest rate of growth in at least three years, behind only what was seen in the previous quarter. Analysts tracked by FactSet are calling for $34.2 billion in iPhone revenue, up 29.4% from a year earlier.</p><p><blockquote>苹果的iPhone业务有望实现至少三年来的第二大增长率，仅次于上一季度。FactSet追踪的分析师预计iPhone营收为342亿美元，同比增长29.4%。</blockquote></p><p> Some encouraging signals came from Verizon Communications Inc. <a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a>, which recently ran a big iPhone promotion as it sought to match discounts at rival AT&amp;T Inc. <a href=\"https://laohu8.com/S/T\">$(T)$</a></p><p><blockquote>威瑞森通信公司发出了一些令人鼓舞的信号。<a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a>该公司最近进行了一次大规模的iPhone促销活动，试图与竞争对手AT&amp;T Inc.的折扣相匹配。<a href=\"https://laohu8.com/S/T\">$(T)$</a></blockquote></p><p> \"Momentum built throughout the quarter, and we timed our promotions to take full advantage of the economic recovery and increased customer activity,\" Verizon Chief Financial Officer Matthew Ellis said on his company's earnings call. About 20% of Verizon's consumer base is now using 5G-enabled phones .</p><p><blockquote>Verizon首席财务官Matthew Ellis在公司财报看涨期权上表示：“整个季度势头强劲，我们安排了促销活动，以充分利用经济复苏和客户活动增加的机会。”威瑞森大约20%的消费者现在使用支持5G的手机。</blockquote></p><p> Raymond James analyst Chris Caso noted that the quantity of upgrades might not even be the most important factor, as his analysis of iPhone carrier deals from last year found that they can be helpful in driving a greater \"mix\" of more expensive devices.</p><p><blockquote>Raymond James分析师Chris Caso指出，升级的数量甚至可能不是最重要的因素，因为他对去年iPhone运营商交易的分析发现，它们可能有助于推动更昂贵设备的更大“组合”。</blockquote></p><p></p><p> \"Consumers appear to have been willing to pay the few dollars per month to upgrade to higher-end models, if the base model was offered for free,\" he wrote, based on analyzing last year's subsidies.</p><p><blockquote>“如果免费提供基本型号，消费者似乎愿意每月支付几美元升级到更高端型号，”他在分析去年补贴的基础上写道。</blockquote></p><p> UBS analyst David Vogt is also feeling upbeat about the business heading into the fiscal third-quarter report, pointing to positive signs in the telecommunications industry like the \"aggressive promotions\" and improving retail traffic at wireless stores.</p><p><blockquote>瑞银分析师David Vogt也对进入第三财季报告的业务感到乐观，他指出电信行业出现了积极迹象，例如“积极的促销活动”和无线商店零售流量的改善。</blockquote></p><p> But he notes that demand may not be the big issue for Apple, as the company's overall upside is \"gated\" due to supply constraints plaguing the broader electronics industry and beyond. Apple addressed these issues on its earnings call, projecting a $3 billion to $4 billion negative revenue impact in the June quarter that was mainly expected to affect the Mac and iPad businesses.</p><p><blockquote>但他指出，需求对苹果来说可能不是大问题，因为由于供应限制困扰更广泛的电子行业及其他行业，该公司的整体上涨空间受到“限制”。苹果在其收益看涨期权中解决了这些问题，预计6月份季度的负面收入影响将达到30亿至40亿美元，预计主要影响Mac和iPad业务。</blockquote></p><p> Another key narrative is how those two segments held up more generally given a return to more normalized activities outside the home. Apple's Macs and iPads were popular purchases among those needing new hardware to power remote working and schooling, but analysts will be looking to see whether the personal-computer boom is sustainable.</p><p><blockquote>另一个关键的叙述是，考虑到家庭以外更正常的活动，这两个部分如何更普遍地保持下去。苹果的Mac和iPad在那些需要新硬件来支持远程工作和学校教育的人中很受欢迎，但分析师将关注个人电脑的繁荣是否可持续。</blockquote></p><p> \"While Apple will have to contend with lapping very difficult pandemic comparisons in the [June quarter] and for several quarters thereafter, we see several near-term tailwinds from both categories,\" wrote CFRA analyst Angelo Zino. \"We see corporate upgrades on the enterprise level becoming a bigger contributor to demand as the economy fully reopens across the globe.\"</p><p><blockquote>CFRA分析师安吉洛·齐诺(Angelo Zino)写道：“虽然苹果将不得不在[6月季度]及其后的几个季度应对非常困难的流行病比较，但我们看到这两个类别的近期有利因素。”“我们看到，随着全球经济全面重新开放，企业层面的企业升级将成为需求的更大贡献者。”</blockquote></p><p> The coming results will also be the first gauge on demand for Apple's new colorful iMac lineup and powerful iPad Pro , both of which rolled out in the spring and feature the company's custom M1 chip.</p><p><blockquote>即将发布的结果也将是苹果新的丰富多彩的iMac系列和功能强大的iPad Pro的第一个需求指标，这两款产品都是在春季推出的，并采用了该公司定制的M1芯片。</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>What will Apple say about the next iPhone at earnings time? Maybe more than usual<blockquote>苹果在财报发布时会对下一代iPhone说些什么？也许比平时多</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat will Apple say about the next iPhone at earnings time? Maybe more than usual<blockquote>苹果在财报发布时会对下一代iPhone说些什么？也许比平时多</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-24 08:04</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple earnings preview: Recent lack of quarterly forecasts could lead executives to divulge a few more hints about the next iPhone release when discussing results Tuesday afternoon</p><p><blockquote>苹果财报预览：最近缺乏季度预测可能会导致高管在周二下午讨论业绩时透露更多有关下一次iPhone发布的暗示</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1694f71fa4dec194ef63e28ffc75776f\" tg-width=\"700\" tg-height=\"495\" width=\"100%\" height=\"auto\"><span>Heavy promotions in the wireless industry likely benefited Apple's business during the June quarter.</span></p><p><blockquote><p class=\"t-img-caption\"><span>无线行业的大力促销可能使苹果在第二季度的业务受益。</span></p></blockquote></p><p> The pandemic may add a wrinkle to the guessing game that normally accompanies Apple Inc.'s June-quarter conference call.</p><p><blockquote>这场大流行可能会给通常伴随苹果公司六月季度电话会议的猜谜游戏增添一丝皱纹。</blockquote></p><p> Typically the most important tidbit coming out of fiscal third-quarter earnings, which Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a> is scheduled to report Tuesday afternoon, is the company's outlook and commentary around its September-quarter revenue, which can hold clues as to what the company expects in the early days of its next smartphone launch. A strong forecast may imply that the company intends to make its new lineup available during the waning days of its fiscal year, while weaker guidance could suggest the launch will be pushed in to the calendar fourth quarter.</p><p><blockquote>通常最重要的花絮来自第三财季收益，苹果<a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>定于周二下午公布该公司对9月份季度收入的展望和评论，这可以为该公司在下一款智能手机发布初期的预期提供线索。强劲的预测可能意味着该公司打算在本财年的最后几天推出新产品线，而较弱的指引可能表明推出将推迟到第四季度。</blockquote></p><p> The problem this time around is that Apple has held off on issuing a formal outlook for more than a year amid the pandemic, and it remains unclear when or if the company will resume the practice. Apple has instead been offering \"directional insights\" to offer some indication of how its results could stack up to those of prior quarters, but it has been notoriously tight-lipped about plans for iPhone launches.</p><p><blockquote>这一次的问题是，苹果在疫情期间推迟发布正式展望一年多，目前尚不清楚该公司何时或是否会恢复这种做法。相反，苹果一直在提供“方向性见解”，以表明其业绩与前几个季度的业绩相比如何，但众所周知，它对iPhone发布计划守口如瓶。</blockquote></p><p> \"We expect the timing of iPhone 13 availability will ultimately prove to be the swing factor in [the fiscal fourth quarter], thus we anticipate the company will provide more granular directional commentary,\" wrote Monness, Crespi, Hardt &amp; Co. analyst Brian White.</p><p><blockquote>Monness、Crespi、Hardt&amp;Co.分析师Brian写道：“我们预计iPhone 13的上市时间最终将成为[第四财季]的摇摆因素，因此我们预计该公司将提供更精细的方向性评论。”怀特。</blockquote></p><p> The coming launch is of keen interest given that the current lineup has performed well. \"The iPhone 12 cycle has been strong but we believe the next two cycles may prove challenging with units potentially down [year over year] in FY22 and FY23,\" wrote Barclays analyst Tim Long.</p><p><blockquote>鉴于目前的阵容表现良好，即将推出的产品令人非常感兴趣。Barclays分析师Tim Long写道：“iPhone 12周期一直很强劲，但我们认为接下来的两个周期可能会充满挑战，2022财年和2023财年的销量可能会同比下降。”</blockquote></p><p> The June quarter that Apple will report Tuesday is traditionally a slower <a href=\"https://laohu8.com/S/AONE.U\">one</a>, as consumers wait for the next iPhone launch, but the company is still expected to deliver big growth in its smartphone business. Not only does the company have the benefit of easy comparisons to the early days of the pandemic, but it should also be reaping the rewards of an unusually promotional wireless industry.</p><p><blockquote>苹果将于周二公布的六月季度数据传统上较慢<a href=\"https://laohu8.com/S/AONE.U\">一</a>随着消费者等待下一款iPhone的发布，但该公司仍有望实现智能手机业务的大幅增长。该公司不仅可以轻松地与疫情早期进行比较，而且还应该从异常促销的无线行业中获得回报。</blockquote></p><p> <b>What to watch for</b></p><p><blockquote><b>注意什么</b></blockquote></p><p> <b>Earnings:</b> Analysts tracked by FactSet expect Apple to post $1.01 in earnings per share, up from 65 cents a year earlier. According to Estimize, which crowdsources projections from hedge funds, academics, and others, the average expectation is for $1.16 a share in EPS.</p><p><blockquote><b>收益：</b>FactSet追踪的分析师预计苹果每股收益为1.01美元，高于去年同期的65美分。根据Estimize（对冲基金、学者和其他人的众包预测）的数据，平均预期每股收益为1.16美元。</blockquote></p><p> <b>Revenue: </b>The FactSet consensus calls for $73.26 billion in overall revenue, up from $59.69 billion a year prior. On Estimize, the average estimate is for $77.38 billion.</p><p><blockquote><b>收入：</b>FactSet一致认为评级的总收入为732.6亿美元，高于一年前的596.9亿美元。根据Estimize，平均估计为773.8亿美元。</blockquote></p><p> On a segment level, analysts surveyed by FactSet project $34.19 billion in iPhone revenue, $7.17 billion in iPad revenue, $7.86 billion in Mac revenue, $16.26 billion in services revenue, and $7.83 billion in revenue for the wearables, home, and accessories category.</p><p><blockquote>在细分市场层面，FactSet调查的分析师预计iPhone收入为341.9亿美元，iPad收入为71.7亿美元，Mac收入为78.6亿美元，服务收入为162.6亿美元，可穿戴设备、家居和配件类别的收入为78.3亿美元。</blockquote></p><p> <b>Stock movement: </b>Apple shares have fallen after four of the past five earnings reports, though the stock is up 60% over the past 12 months as the Dow Jones Industrial Average has increased 32%.</p><p><blockquote><b>股票变动：</b>苹果股价在过去五份财报中的四份后下跌，尽管该股在过去12个月内上涨了60%，道琼斯工业平均指数上涨了32%。</blockquote></p><p> Of the 44 analysts tracked by FactSet who cover Apple's stock, 33 have buy ratings, nine have hold ratings and two have sell ratings, with an average price target of $157.88.</p><p><blockquote>FactSet追踪的44名研究苹果股票的分析师中，33名给予买入评级，9名给予持有评级，2名给予卖出评级，平均目标价为157.88美元。</blockquote></p><p> <b>What else to watch for</b></p><p><blockquote><b>还有什么值得注意的</b></blockquote></p><p> Apple's iPhone business is set up for its second-largest rate of growth in at least three years, behind only what was seen in the previous quarter. Analysts tracked by FactSet are calling for $34.2 billion in iPhone revenue, up 29.4% from a year earlier.</p><p><blockquote>苹果的iPhone业务有望实现至少三年来的第二大增长率，仅次于上一季度。FactSet追踪的分析师预计iPhone营收为342亿美元，同比增长29.4%。</blockquote></p><p> Some encouraging signals came from Verizon Communications Inc. <a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a>, which recently ran a big iPhone promotion as it sought to match discounts at rival AT&amp;T Inc. <a href=\"https://laohu8.com/S/T\">$(T)$</a></p><p><blockquote>威瑞森通信公司发出了一些令人鼓舞的信号。<a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a>该公司最近进行了一次大规模的iPhone促销活动，试图与竞争对手AT&amp;T Inc.的折扣相匹配。<a href=\"https://laohu8.com/S/T\">$(T)$</a></blockquote></p><p> \"Momentum built throughout the quarter, and we timed our promotions to take full advantage of the economic recovery and increased customer activity,\" Verizon Chief Financial Officer Matthew Ellis said on his company's earnings call. About 20% of Verizon's consumer base is now using 5G-enabled phones .</p><p><blockquote>Verizon首席财务官Matthew Ellis在公司财报看涨期权上表示：“整个季度势头强劲，我们安排了促销活动，以充分利用经济复苏和客户活动增加的机会。”威瑞森大约20%的消费者现在使用支持5G的手机。</blockquote></p><p> Raymond James analyst Chris Caso noted that the quantity of upgrades might not even be the most important factor, as his analysis of iPhone carrier deals from last year found that they can be helpful in driving a greater \"mix\" of more expensive devices.</p><p><blockquote>Raymond James分析师Chris Caso指出，升级的数量甚至可能不是最重要的因素，因为他对去年iPhone运营商交易的分析发现，它们可能有助于推动更昂贵设备的更大“组合”。</blockquote></p><p></p><p> \"Consumers appear to have been willing to pay the few dollars per month to upgrade to higher-end models, if the base model was offered for free,\" he wrote, based on analyzing last year's subsidies.</p><p><blockquote>“如果免费提供基本型号，消费者似乎愿意每月支付几美元升级到更高端型号，”他在分析去年补贴的基础上写道。</blockquote></p><p> UBS analyst David Vogt is also feeling upbeat about the business heading into the fiscal third-quarter report, pointing to positive signs in the telecommunications industry like the \"aggressive promotions\" and improving retail traffic at wireless stores.</p><p><blockquote>瑞银分析师David Vogt也对进入第三财季报告的业务感到乐观，他指出电信行业出现了积极迹象，例如“积极的促销活动”和无线商店零售流量的改善。</blockquote></p><p> But he notes that demand may not be the big issue for Apple, as the company's overall upside is \"gated\" due to supply constraints plaguing the broader electronics industry and beyond. Apple addressed these issues on its earnings call, projecting a $3 billion to $4 billion negative revenue impact in the June quarter that was mainly expected to affect the Mac and iPad businesses.</p><p><blockquote>但他指出，需求对苹果来说可能不是大问题，因为由于供应限制困扰更广泛的电子行业及其他行业，该公司的整体上涨空间受到“限制”。苹果在其收益看涨期权中解决了这些问题，预计6月份季度的负面收入影响将达到30亿至40亿美元，预计主要影响Mac和iPad业务。</blockquote></p><p> Another key narrative is how those two segments held up more generally given a return to more normalized activities outside the home. Apple's Macs and iPads were popular purchases among those needing new hardware to power remote working and schooling, but analysts will be looking to see whether the personal-computer boom is sustainable.</p><p><blockquote>另一个关键的叙述是，考虑到家庭以外更正常的活动，这两个部分如何更普遍地保持下去。苹果的Mac和iPad在那些需要新硬件来支持远程工作和学校教育的人中很受欢迎，但分析师将关注个人电脑的繁荣是否可持续。</blockquote></p><p> \"While Apple will have to contend with lapping very difficult pandemic comparisons in the [June quarter] and for several quarters thereafter, we see several near-term tailwinds from both categories,\" wrote CFRA analyst Angelo Zino. \"We see corporate upgrades on the enterprise level becoming a bigger contributor to demand as the economy fully reopens across the globe.\"</p><p><blockquote>CFRA分析师安吉洛·齐诺(Angelo Zino)写道：“虽然苹果将不得不在[6月季度]及其后的几个季度应对非常困难的流行病比较，但我们看到这两个类别的近期有利因素。”“我们看到，随着全球经济全面重新开放，企业层面的企业升级将成为需求的更大贡献者。”</blockquote></p><p> The coming results will also be the first gauge on demand for Apple's new colorful iMac lineup and powerful iPad Pro , both of which rolled out in the spring and feature the company's custom M1 chip.</p><p><blockquote>即将发布的结果也将是苹果新的丰富多彩的iMac系列和功能强大的iPad Pro的第一个需求指标，这两款产品都是在春季推出的，并采用了该公司定制的M1芯片。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/what-will-apple-say-about-the-next-iphone-at-earnings-time-maybe-more-than-usual-11627077819?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":{"AAPL":"苹果"},"source_url":"https://www.marketwatch.com/story/what-will-apple-say-about-the-next-iphone-at-earnings-time-maybe-more-than-usual-11627077819?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2153938547","content_text":"Apple earnings preview: Recent lack of quarterly forecasts could lead executives to divulge a few more hints about the next iPhone release when discussing results Tuesday afternoon\nHeavy promotions in the wireless industry likely benefited Apple's business during the June quarter.\nThe pandemic may add a wrinkle to the guessing game that normally accompanies Apple Inc.'s June-quarter conference call.\nTypically the most important tidbit coming out of fiscal third-quarter earnings, which Apple $(AAPL)$ is scheduled to report Tuesday afternoon, is the company's outlook and commentary around its September-quarter revenue, which can hold clues as to what the company expects in the early days of its next smartphone launch. A strong forecast may imply that the company intends to make its new lineup available during the waning days of its fiscal year, while weaker guidance could suggest the launch will be pushed in to the calendar fourth quarter.\nThe problem this time around is that Apple has held off on issuing a formal outlook for more than a year amid the pandemic, and it remains unclear when or if the company will resume the practice. Apple has instead been offering \"directional insights\" to offer some indication of how its results could stack up to those of prior quarters, but it has been notoriously tight-lipped about plans for iPhone launches.\n\"We expect the timing of iPhone 13 availability will ultimately prove to be the swing factor in [the fiscal fourth quarter], thus we anticipate the company will provide more granular directional commentary,\" wrote Monness, Crespi, Hardt & Co. analyst Brian White.\nThe coming launch is of keen interest given that the current lineup has performed well. \"The iPhone 12 cycle has been strong but we believe the next two cycles may prove challenging with units potentially down [year over year] in FY22 and FY23,\" wrote Barclays analyst Tim Long.\nThe June quarter that Apple will report Tuesday is traditionally a slower one, as consumers wait for the next iPhone launch, but the company is still expected to deliver big growth in its smartphone business. Not only does the company have the benefit of easy comparisons to the early days of the pandemic, but it should also be reaping the rewards of an unusually promotional wireless industry.\nWhat to watch for\nEarnings: Analysts tracked by FactSet expect Apple to post $1.01 in earnings per share, up from 65 cents a year earlier. According to Estimize, which crowdsources projections from hedge funds, academics, and others, the average expectation is for $1.16 a share in EPS.\nRevenue: The FactSet consensus calls for $73.26 billion in overall revenue, up from $59.69 billion a year prior. On Estimize, the average estimate is for $77.38 billion.\nOn a segment level, analysts surveyed by FactSet project $34.19 billion in iPhone revenue, $7.17 billion in iPad revenue, $7.86 billion in Mac revenue, $16.26 billion in services revenue, and $7.83 billion in revenue for the wearables, home, and accessories category.\nStock movement: Apple shares have fallen after four of the past five earnings reports, though the stock is up 60% over the past 12 months as the Dow Jones Industrial Average has increased 32%.\nOf the 44 analysts tracked by FactSet who cover Apple's stock, 33 have buy ratings, nine have hold ratings and two have sell ratings, with an average price target of $157.88.\nWhat else to watch for\nApple's iPhone business is set up for its second-largest rate of growth in at least three years, behind only what was seen in the previous quarter. Analysts tracked by FactSet are calling for $34.2 billion in iPhone revenue, up 29.4% from a year earlier.\nSome encouraging signals came from Verizon Communications Inc. $(VZ)$, which recently ran a big iPhone promotion as it sought to match discounts at rival AT&T Inc. $(T)$\n\"Momentum built throughout the quarter, and we timed our promotions to take full advantage of the economic recovery and increased customer activity,\" Verizon Chief Financial Officer Matthew Ellis said on his company's earnings call. About 20% of Verizon's consumer base is now using 5G-enabled phones .\nRaymond James analyst Chris Caso noted that the quantity of upgrades might not even be the most important factor, as his analysis of iPhone carrier deals from last year found that they can be helpful in driving a greater \"mix\" of more expensive devices.\n\"Consumers appear to have been willing to pay the few dollars per month to upgrade to higher-end models, if the base model was offered for free,\" he wrote, based on analyzing last year's subsidies.\nUBS analyst David Vogt is also feeling upbeat about the business heading into the fiscal third-quarter report, pointing to positive signs in the telecommunications industry like the \"aggressive promotions\" and improving retail traffic at wireless stores.\nBut he notes that demand may not be the big issue for Apple, as the company's overall upside is \"gated\" due to supply constraints plaguing the broader electronics industry and beyond. Apple addressed these issues on its earnings call, projecting a $3 billion to $4 billion negative revenue impact in the June quarter that was mainly expected to affect the Mac and iPad businesses.\nAnother key narrative is how those two segments held up more generally given a return to more normalized activities outside the home. Apple's Macs and iPads were popular purchases among those needing new hardware to power remote working and schooling, but analysts will be looking to see whether the personal-computer boom is sustainable.\n\"While Apple will have to contend with lapping very difficult pandemic comparisons in the [June quarter] and for several quarters thereafter, we see several near-term tailwinds from both categories,\" wrote CFRA analyst Angelo Zino. \"We see corporate upgrades on the enterprise level becoming a bigger contributor to demand as the economy fully reopens across the globe.\"\nThe coming results will also be the first gauge on demand for Apple's new colorful iMac lineup and powerful iPad Pro , both of which rolled out in the spring and feature the company's custom M1 chip.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":484,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174808732,"gmtCreate":1627088863926,"gmtModify":1633768136222,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174808732","repostId":"2153983997","repostType":4,"isVote":1,"tweetType":1,"viewCount":459,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172264893,"gmtCreate":1626963026312,"gmtModify":1633769325736,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/172264893","repostId":"1154266565","repostType":4,"repost":{"id":"1154266565","kind":"news","pubTimestamp":1626955588,"share":"https://www.laohu8.com/m/news/1154266565?lang=zh_CN&edition=full","pubTime":"2021-07-22 20:06","market":"us","language":"en","title":"How to invest as the Delta variant takes hold<blockquote>随着德尔塔变异毒株的到来如何投资</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154266565","media":"cnn","summary":"New York When the market is plunging like it did last Friday and on Monday, it's tempting to throw in the towel and sell. Big drops can be scary.But dumping stocks on days when the Dow is getting whacked is usually the wrong thing to do. Stocks roared back Tuesday and were up again Wednesday.If you're investing for the long haul, the best thing you can do is ride out this wave of volatility.\"Stay invested,\" said Seema Shah, chief strategist at Principal Global Investors. Shah told CNN Business t","content":"<p>New York (CNN Business)When the market is plunging like it did last Friday and on Monday, it's tempting to throw in the towel and sell. Big drops can be scary.</p><p><blockquote>纽约（CNN商业）当市场像上周五和周一那样暴跌时，人们很容易认输并卖出。大跌可能会很可怕。</blockquote></p><p> But dumping stocks on days when the Dow is getting whacked is usually the wrong thing to do. Stocks roared back Tuesday and were up again Wednesday.</p><p><blockquote>但在道琼斯指数遭受重创的日子抛售股票通常是错误的做法。周二股市大幅反弹，周三再次上涨。</blockquote></p><p> Yes, the Delta variant of Covid-19 has led to an alarming uptick in coronavirus cases in the United States and around the globe. But many experts think the massive number of vaccinations that have already taken place will prevent the economy and markets from going into another tailspin.</p><p><blockquote>是的，新冠肺炎的德尔塔变异毒株导致美国和全球冠状病毒病例惊人地上升。但许多专家认为，已经进行的大量疫苗接种将防止经济和市场陷入另一场混乱。</blockquote></p><p> If you're investing for the long haul, the best thing you can do is ride out this wave of volatility.</p><p><blockquote>如果你是长期投资，你能做的最好的事情就是安然度过这波波动。</blockquote></p><p> \"Stay invested,\" said Seema Shah, chief strategist at Principal Global Investors. Shah told CNN Business that the Delta variant is highly unlikely to stop the economic recovery in the US and other parts of the developed world where vaccination rates are high.</p><p><blockquote>信安全球投资者首席策略师Seema Shah表示：“保持投资。”沙阿告诉美国有线电视新闻网商业频道，德尔塔变异毒株不太可能阻止美国和其他疫苗接种率较高的发达国家的经济复苏。</blockquote></p><p> \"The vaccine is effective,\" she said. \"If cases are rising but hospitalization rates remain low, then the reopening measures from governments will continue.\"</p><p><blockquote>“疫苗是有效的，”她说。“如果病例在上升，但住院率仍然很低，那么政府的重新开放措施将继续下去。”</blockquote></p><p> Still, Shah conceded, investors should be more selective. After all, the S&amp;P 500 has nearly doubled from its pandemic lows in March 2020, and not all stocks and sectors will maintain their momentum.</p><p><blockquote>尽管如此，沙阿承认，投资者应该更加挑剔。毕竟，标普500较2020年3月的大流行低点上涨了近一倍，并非所有股票和板块都将保持其势头。</blockquote></p><p> She thinks defensive sectors might start to pull back a bit. Those include utilities, health care and others companies that pay big dividends and are considered good bond proxies.</p><p><blockquote>她认为防御性板块可能会开始小幅回调。其中包括公用事业、医疗保健和其他支付高额股息并被认为是良好债券代理的公司。</blockquote></p><p> The FAANGs and other big tech stocks, many of which have strong earnings momentum and tons of cash, should continue to rally, she said.</p><p><blockquote>她表示，FAANG和其他大型科技股应该会继续上涨，其中许多股拥有强劲的盈利势头和大量现金。</blockquote></p><p> <b>Not the time to bail on the market</b></p><p><blockquote><b>现在不是退出市场的时候</b></blockquote></p><p> So should economic recovery plays in the travel and retail sectors that have pulled back lately on Covid concerns. United (UAL), for example, issued an upbeat outlook after the closing bell Tuesday.</p><p><blockquote>旅游和零售行业的经济复苏也应该如此，这些行业最近因新冠疫情担忧而回落。例如，美联航(UAL)在周二收盘后发布了乐观的前景。</blockquote></p><p> \"Airlines have been beaten up,\" Shah said. \"But if you assume the reopening will continue, they should enjoy a significant bounceback.\"</p><p><blockquote>“航空公司受到了打击，”沙阿说。“但如果你假设重新开放将继续，他们应该会享受显着的反弹。”</blockquote></p><p> Stocks may remain bumpy for the foreseeable future, but that shouldn't dissuade investors from sticking with their longer-term investments.</p><p><blockquote>在可预见的未来，股市可能仍然坎坷，但这不应阻止投资者坚持长期投资。</blockquote></p><p> \"The uncertainty of the past couple of days is warranted for the short term,\" said Peter van der Welle, multi-asset strategist at Robeco. \"But there should be a second leg to the reflation trade.\"</p><p><blockquote>荷宝多资产策略师Peter van der Welle表示：“过去几天的不确定性在短期内是合理的。”“但通货再膨胀交易应该有第二条腿。”</blockquote></p><p> Van der Welle noted that there are many reasons to be optimistic about continued gains in consumer spending and retail sales, despite a recent drop in consumer confidence.</p><p><blockquote>范德韦勒指出，尽管近期消费者信心有所下降，但仍有许多理由对消费者支出和零售额的持续增长持乐观态度。</blockquote></p><p> <b>Buy the dips</b></p><p><blockquote><b>逢低买入</b></blockquote></p><p> Any wariness on the part of consumers — and investors, for that matter — could turn out to be fleeting.</p><p><blockquote>消费者——以及投资者——的任何谨慎都可能转瞬即逝。</blockquote></p><p> \"If you are a long-term investor, take advantage of this volatility and add to positions in companies and sectors you really like,\" said Phil Orlando, chief equity market strategist at Federated Hermes.</p><p><blockquote>Federated Hermes首席股票市场策略师菲尔·奥兰多(Phil Orlando)表示：“如果你是长期投资者，请利用这种波动性，增持你真正喜欢的公司和行业。”</blockquote></p><p> He he belives stocks in cyclical industries that have gotten hit because of Delta variant fears could enjoy the biggest rebounds.</p><p><blockquote>他认为，因德尔塔变异毒株担忧而受到打击的周期性行业股票可能会出现最大的反弹。</blockquote></p><p> \"There are stocks that have hit an air pocket that could be very attractive. We love the economically sensitive sectors,\" Orlando added, saying that banks and other financials, industrial firms, retailers and energy stocks may come roaring back.</p><p><blockquote>奥兰多补充道：“有些股票已经陷入困境，可能非常有吸引力。我们喜欢对经济敏感的行业。”他表示，银行和其他金融股、工业公司、零售商和能源股可能会大幅反弹。</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>How to invest as the Delta variant takes hold<blockquote>随着德尔塔变异毒株的到来如何投资</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\">\nHow to invest as the Delta variant takes hold<blockquote>随着德尔塔变异毒株的到来如何投资</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-07-22 20:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>New York (CNN Business)When the market is plunging like it did last Friday and on Monday, it's tempting to throw in the towel and sell. Big drops can be scary.</p><p><blockquote>纽约（CNN商业）当市场像上周五和周一那样暴跌时，人们很容易认输并卖出。大跌可能会很可怕。</blockquote></p><p> But dumping stocks on days when the Dow is getting whacked is usually the wrong thing to do. Stocks roared back Tuesday and were up again Wednesday.</p><p><blockquote>但在道琼斯指数遭受重创的日子抛售股票通常是错误的做法。周二股市大幅反弹，周三再次上涨。</blockquote></p><p> Yes, the Delta variant of Covid-19 has led to an alarming uptick in coronavirus cases in the United States and around the globe. But many experts think the massive number of vaccinations that have already taken place will prevent the economy and markets from going into another tailspin.</p><p><blockquote>是的，新冠肺炎的德尔塔变异毒株导致美国和全球冠状病毒病例惊人地上升。但许多专家认为，已经进行的大量疫苗接种将防止经济和市场陷入另一场混乱。</blockquote></p><p> If you're investing for the long haul, the best thing you can do is ride out this wave of volatility.</p><p><blockquote>如果你是长期投资，你能做的最好的事情就是安然度过这波波动。</blockquote></p><p> \"Stay invested,\" said Seema Shah, chief strategist at Principal Global Investors. Shah told CNN Business that the Delta variant is highly unlikely to stop the economic recovery in the US and other parts of the developed world where vaccination rates are high.</p><p><blockquote>信安全球投资者首席策略师Seema Shah表示：“保持投资。”沙阿告诉美国有线电视新闻网商业频道，德尔塔变异毒株不太可能阻止美国和其他疫苗接种率较高的发达国家的经济复苏。</blockquote></p><p> \"The vaccine is effective,\" she said. \"If cases are rising but hospitalization rates remain low, then the reopening measures from governments will continue.\"</p><p><blockquote>“疫苗是有效的，”她说。“如果病例在上升，但住院率仍然很低，那么政府的重新开放措施将继续下去。”</blockquote></p><p> Still, Shah conceded, investors should be more selective. After all, the S&amp;P 500 has nearly doubled from its pandemic lows in March 2020, and not all stocks and sectors will maintain their momentum.</p><p><blockquote>尽管如此，沙阿承认，投资者应该更加挑剔。毕竟，标普500较2020年3月的大流行低点上涨了近一倍，并非所有股票和板块都将保持其势头。</blockquote></p><p> She thinks defensive sectors might start to pull back a bit. Those include utilities, health care and others companies that pay big dividends and are considered good bond proxies.</p><p><blockquote>她认为防御性板块可能会开始小幅回调。其中包括公用事业、医疗保健和其他支付高额股息并被认为是良好债券代理的公司。</blockquote></p><p> The FAANGs and other big tech stocks, many of which have strong earnings momentum and tons of cash, should continue to rally, she said.</p><p><blockquote>她表示，FAANG和其他大型科技股应该会继续上涨，其中许多股拥有强劲的盈利势头和大量现金。</blockquote></p><p> <b>Not the time to bail on the market</b></p><p><blockquote><b>现在不是退出市场的时候</b></blockquote></p><p> So should economic recovery plays in the travel and retail sectors that have pulled back lately on Covid concerns. United (UAL), for example, issued an upbeat outlook after the closing bell Tuesday.</p><p><blockquote>旅游和零售行业的经济复苏也应该如此，这些行业最近因新冠疫情担忧而回落。例如，美联航(UAL)在周二收盘后发布了乐观的前景。</blockquote></p><p> \"Airlines have been beaten up,\" Shah said. \"But if you assume the reopening will continue, they should enjoy a significant bounceback.\"</p><p><blockquote>“航空公司受到了打击，”沙阿说。“但如果你假设重新开放将继续，他们应该会享受显着的反弹。”</blockquote></p><p> Stocks may remain bumpy for the foreseeable future, but that shouldn't dissuade investors from sticking with their longer-term investments.</p><p><blockquote>在可预见的未来，股市可能仍然坎坷，但这不应阻止投资者坚持长期投资。</blockquote></p><p> \"The uncertainty of the past couple of days is warranted for the short term,\" said Peter van der Welle, multi-asset strategist at Robeco. \"But there should be a second leg to the reflation trade.\"</p><p><blockquote>荷宝多资产策略师Peter van der Welle表示：“过去几天的不确定性在短期内是合理的。”“但通货再膨胀交易应该有第二条腿。”</blockquote></p><p> Van der Welle noted that there are many reasons to be optimistic about continued gains in consumer spending and retail sales, despite a recent drop in consumer confidence.</p><p><blockquote>范德韦勒指出，尽管近期消费者信心有所下降，但仍有许多理由对消费者支出和零售额的持续增长持乐观态度。</blockquote></p><p> <b>Buy the dips</b></p><p><blockquote><b>逢低买入</b></blockquote></p><p> Any wariness on the part of consumers — and investors, for that matter — could turn out to be fleeting.</p><p><blockquote>消费者——以及投资者——的任何谨慎都可能转瞬即逝。</blockquote></p><p> \"If you are a long-term investor, take advantage of this volatility and add to positions in companies and sectors you really like,\" said Phil Orlando, chief equity market strategist at Federated Hermes.</p><p><blockquote>Federated Hermes首席股票市场策略师菲尔·奥兰多(Phil Orlando)表示：“如果你是长期投资者，请利用这种波动性，增持你真正喜欢的公司和行业。”</blockquote></p><p> He he belives stocks in cyclical industries that have gotten hit because of Delta variant fears could enjoy the biggest rebounds.</p><p><blockquote>他认为，因德尔塔变异毒株担忧而受到打击的周期性行业股票可能会出现最大的反弹。</blockquote></p><p> \"There are stocks that have hit an air pocket that could be very attractive. We love the economically sensitive sectors,\" Orlando added, saying that banks and other financials, industrial firms, retailers and energy stocks may come roaring back.</p><p><blockquote>奥兰多补充道：“有些股票已经陷入困境，可能非常有吸引力。我们喜欢对经济敏感的行业。”他表示，银行和其他金融股、工业公司、零售商和能源股可能会大幅反弹。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/07/21/investing/investing-stock-market-volatility/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://edition.cnn.com/2021/07/21/investing/investing-stock-market-volatility/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154266565","content_text":"New York (CNN Business)When the market is plunging like it did last Friday and on Monday, it's tempting to throw in the towel and sell. Big drops can be scary.\nBut dumping stocks on days when the Dow is getting whacked is usually the wrong thing to do. Stocks roared back Tuesday and were up again Wednesday.\nYes, the Delta variant of Covid-19 has led to an alarming uptick in coronavirus cases in the United States and around the globe. But many experts think the massive number of vaccinations that have already taken place will prevent the economy and markets from going into another tailspin.\nIf you're investing for the long haul, the best thing you can do is ride out this wave of volatility.\n\"Stay invested,\" said Seema Shah, chief strategist at Principal Global Investors. Shah told CNN Business that the Delta variant is highly unlikely to stop the economic recovery in the US and other parts of the developed world where vaccination rates are high.\n\"The vaccine is effective,\" she said. \"If cases are rising but hospitalization rates remain low, then the reopening measures from governments will continue.\"\nStill, Shah conceded, investors should be more selective. After all, the S&P 500 has nearly doubled from its pandemic lows in March 2020, and not all stocks and sectors will maintain their momentum.\nShe thinks defensive sectors might start to pull back a bit. Those include utilities, health care and others companies that pay big dividends and are considered good bond proxies.\nThe FAANGs and other big tech stocks, many of which have strong earnings momentum and tons of cash, should continue to rally, she said.\nNot the time to bail on the market\nSo should economic recovery plays in the travel and retail sectors that have pulled back lately on Covid concerns. United (UAL), for example, issued an upbeat outlook after the closing bell Tuesday.\n\"Airlines have been beaten up,\" Shah said. \"But if you assume the reopening will continue, they should enjoy a significant bounceback.\"\nStocks may remain bumpy for the foreseeable future, but that shouldn't dissuade investors from sticking with their longer-term investments.\n\"The uncertainty of the past couple of days is warranted for the short term,\" said Peter van der Welle, multi-asset strategist at Robeco. \"But there should be a second leg to the reflation trade.\"\nVan der Welle noted that there are many reasons to be optimistic about continued gains in consumer spending and retail sales, despite a recent drop in consumer confidence.\nBuy the dips\nAny wariness on the part of consumers — and investors, for that matter — could turn out to be fleeting.\n\"If you are a long-term investor, take advantage of this volatility and add to positions in companies and sectors you really like,\" said Phil Orlando, chief equity market strategist at Federated Hermes.\nHe he belives stocks in cyclical industries that have gotten hit because of Delta variant fears could enjoy the biggest rebounds.\n\"There are stocks that have hit an air pocket that could be very attractive. We love the economically sensitive sectors,\" Orlando added, saying that banks and other financials, industrial firms, retailers and energy stocks may come roaring back.","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":683,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171842644,"gmtCreate":1626739350488,"gmtModify":1633924574934,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Slow","listText":"Slow","text":"Slow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/171842644","repostId":"2152652683","repostType":4,"isVote":1,"tweetType":1,"viewCount":724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179431175,"gmtCreate":1626570386097,"gmtModify":1633925850927,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Fish fish","listText":"Fish fish","text":"Fish fish","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179431175","repostId":"1156209584","repostType":4,"isVote":1,"tweetType":1,"viewCount":447,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170955702,"gmtCreate":1626401175706,"gmtModify":1633927085082,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/170955702","repostId":"1176572266","repostType":4,"isVote":1,"tweetType":1,"viewCount":780,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144488981,"gmtCreate":1626310236843,"gmtModify":1633928032840,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144488981","repostId":"2151548988","repostType":4,"isVote":1,"tweetType":1,"viewCount":803,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142511548,"gmtCreate":1626160662384,"gmtModify":1633929522742,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/142511548","repostId":"1101566017","repostType":4,"isVote":1,"tweetType":1,"viewCount":651,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146982110,"gmtCreate":1626049613330,"gmtModify":1633930711572,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/146982110","repostId":"1133868961","repostType":4,"repost":{"id":"1133868961","kind":"news","pubTimestamp":1626047742,"share":"https://www.laohu8.com/m/news/1133868961?lang=zh_CN&edition=full","pubTime":"2021-07-12 07:55","market":"us","language":"en","title":"Earnings Kick Off With Sky-High Forecasts, Record Stock Market<blockquote>盈利以天价预测拉开帷幕，股市创历史新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1133868961","media":"The Wall Street Journal","summary":"With stock valuations sitting above long-term norms, investors will be looking to company executives","content":"<p>  With stock valuations sitting above long-term norms, investors will be looking to company executives for clues on future profits.  Wall Street is heading into earnings season this week with high expectations after strong profits fueled a stock market rally in the first half of the year.</p><p><blockquote>由于股票估值高于长期正常水平，投资者将向公司高管寻求未来利润的线索。在上半年强劲的利润推动股市上涨后，华尔街本周带着很高的期望进入财报季。</blockquote></p><p> Money managers will be watching whether companies will again trounce Wall Street’s forecasts for earnings. The S&amp;P 500 has gained 16% this year and notched 38 record closes, most recently on Friday.</p><p><blockquote>基金经理将关注公司是否会再次超出华尔街的盈利预测。标普500今年已上涨16%，并创下38次收盘纪录，最近一次是在周五。</blockquote></p><p> With stock valuations sitting above long-term norms, investors will also be looking to executives for clues on what the future holds for company profits.</p><p><blockquote>由于股票估值高于长期正常水平，投资者还将向高管寻求有关公司利润未来前景的线索。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a3b557a54040f8c8702b3328a3c51ed9\" tg-width=\"337\" tg-height=\"414\" referrerpolicy=\"no-referrer\">“Do people reward the markets even further from the levels that we’re seeing today?” said Amy Kong, chief investment officer at Barrett Asset Management. “It really depends I think on what management teams would say.”</p><p><blockquote>“人们对市场的回报是否会比我们今天看到的水平更高？”巴雷特资产管理公司首席投资官Amy Kong表示。“我认为这真的取决于管理团队会怎么说。”</blockquote></p><p> Investors this week will parse results from big banks like JPMorgan Chase &amp; Co. and Bank of America Corp., as well as from companies ranging from PepsiCo Inc. toDelta Air LinesInc.DAL2.02%toUnitedHealth GroupInc.UNH0.53%</p><p><blockquote>投资者本周将分析摩根大通和美国银行等大银行以及百事可乐公司、达美航空公司、联合健康集团等公司的业绩</blockquote></p><p> The company earnings will offer a glimpse into how businesses are doing more than a year after the pandemicplunged the U.S. into a recession. With questions about the path of inflation and the labor market unresolved, investors haveshown signs of skittishnessabout the market’s course in the coming months.</p><p><blockquote>在疫情使美国陷入衰退一年多后，该公司的收益将让我们一睹企业的表现。由于有关通胀路径和劳动力市场的问题尚未解决，投资者对未来几个月的市场走势表现出不安的迹象。</blockquote></p><p> Analysts project that profits for S&amp;P 500 companies rose 64% in the second quarter from a year earlier, according to FactSet, a growth rate that would be the highest in more than a decade. However, the growth will be measured from a period when much of the economy had been brought to a standstill from the pandemic as consumers retreated and some businesses saw steep declines in revenue. Analysts expect businesses constrained by the pandemic and economic slowdown, like the financial and industrial sectors, to more than double their profits from the same period in 2020.</p><p><blockquote>FactSet的数据显示，分析师预计标普500公司第二季度利润同比增长64%，这一增长率将是十多年来的最高水平。然而，这一增长将是在疫情导致大部分经济陷入停滞的时期来衡量的，因为消费者撤退，一些企业的收入急剧下降。分析师预计，受疫情和经济放缓限制的企业，如金融和工业部门，其利润将比2020年同期增长一倍以上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ea3485d0ca239f089d056ae1a67be293\" tg-width=\"317\" tg-height=\"429\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Also, forecasts have drifted higher in recent months, helped by an unusually large number of companies advising investors that they expect earnings to come in higher than analysts had been estimating.</p><p><blockquote>此外，近几个月来，预测有所上升，这得益于数量异常多的公司向投资者表示，他们预计盈利将高于分析师的预期。</blockquote></p><p> “The reason for that is simple: The speed and robustness of the recovery is greater today than everyone anticipated three months ago,” said Hal Reynolds, chief investment officer at Los Angeles Capital Management.</p><p><blockquote>洛杉矶资本管理公司首席投资官哈尔·雷诺兹表示：“原因很简单：今天复苏的速度和强劲程度超出了三个月前所有人的预期。”</blockquote></p><p> It is more common for companies to try to lower expectations as they head into a reporting season.</p><p><blockquote>在进入财报季时，公司试图降低预期的情况更为常见。</blockquote></p><p> Federal Reserve officials at the central bank’s June policy meeting suggested theymight need to dial back their supportfor the economy earlier than expected because growth has been so strong.</p><p><blockquote>美联储官员在六月政策会议上表示，他们可能需要比预期更早地减少对经济的支持，因为经济增长如此强劲。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/106ca1452ace2794d634ea68a562e334\" tg-width=\"296\" tg-height=\"417\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> At the same time, investors in recent days have been considering the threat that labor shortages, supply-chain bottlenecks and thehighly contagious Delta variantof the coronavirus might pose to their rosy economic outlooks.</p><p><blockquote>与此同时，投资者最近几天一直在考虑劳动力短缺、供应链瓶颈和高传染性的冠状病毒三角洲变种可能对其乐观的经济前景构成的威胁。</blockquote></p><p> A rally in ultrasafe government bonds pushed the yield on the benchmark 10-year U.S. Treasury notebelow 1.3% last week, settling Thursday at its lowest level since February. Stocks sold off, with the S&amp;P 500, Dow Jones Industrial Average and tech-heavy Nasdaq Composite on Thursdaysuffering their worst daily performancesin nearly three weeks before bouncing higher Friday.</p><p><blockquote>超安全政府债券的上涨推动基准10年期美国国债收益率上周跌破1.3%，周四收于2月份以来的最低水平。股市遭到抛售，标普500、道琼斯工业平均指数和以科技股为主的纳斯达克综合指数周四遭遇近三周来最差单日表现，周五反弹走高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/628f86f4b1c8df342c39ad290fcf6670\" tg-width=\"333\" tg-height=\"416\" referrerpolicy=\"no-referrer\">Investors are weighing each new development with an eye on the hefty price tags that stocks have commanded since the market last year rocketed up from its pandemic lows.</p><p><blockquote>投资者正在权衡每一项新进展，着眼于自去年市场从大流行低点飙升以来股市的高昂价格。</blockquote></p><p> The S&amp;P 500 traded Thursday at nearly 22 times expected earnings over the next 12 months, above a five-year average of a little more than 18.</p><p><blockquote>标普500周四的市盈率接近未来12个月预期市盈率的22倍，高于略高于18的五年平均水平。</blockquote></p><p> “Valuations on their own don’t kill a market, but valuations make you vulnerable if there’s an unpleasant surprise,” said Tom Hancock, lead portfolio manager of the GMO Quality Fund.</p><p><blockquote>转基因质量基金首席投资组合经理汤姆·汉考克表示：“估值本身不会扼杀市场，但如果出现令人不快的意外，估值会让你变得脆弱。”</blockquote></p><p> The economy’s rebound from the pandemic has driven asurge in consumer prices, and investors want to know how higher costs for anything from materials to labor will affect corporations’ bottom lines.</p><p><blockquote>经济从疫情中的反弹推动了消费者价格的飙升，投资者想知道从材料到劳动力的成本上升将如何影响企业的利润。</blockquote></p><p> Forecasts call for an S&amp;P 500 net profit margin of 11.8% in the second quarter, above the five-year average of 10.6%, according to FactSet. That recent efficiency in generating profits could be vulnerable as costs rise.</p><p><blockquote>FactSet的数据显示，看涨期权预计第二季度标普500净利润率为11.8%，高于10.6%的五年平均水平。随着成本上升，最近的盈利效率可能会变得脆弱。</blockquote></p><p></p><p> There are signs investors might look harshly on companies struggling to stay fully staffed.FedExCorp.shares fell 3.9% the day after the delivery giant’s June earnings report—and executives saiddifficulty hiring package handlershad driven wages higher and created inefficiency.</p><p><blockquote>有迹象表明，投资者可能会严厉看待那些努力保持人员充足的公司。在这家快递巨头发布6月份收益报告后的第二天，联邦快递公司股价下跌3.9%，高管们表示，招聘包裹处理员的困难导致工资上涨并造成效率低下。</blockquote></p><p> If that experience turns out to be widely shared, it could reshape expectations for the costs that U.S. companies will bear going forward—and potentially the prices their shares are worth.</p><p><blockquote>如果这一经验被广泛分享，它可能会重塑人们对美国公司未来将承担的成本的预期，并可能重塑其股票的价值。</blockquote></p><p> “I come back to inflation and margins being something that could really create a pause with stocks,” said Larry Cordisco, co-lead portfolio manager of the Osterweis Growth &amp; Income Fund. “Certainly if there’s wage inflation that starts to take hold, I think that is going to get people’s attention.”</p><p><blockquote>Osterweis Growth&amp;Income基金联席首席投资组合经理拉里·科迪斯科(Larry Cordisco)表示：“我回到通胀和利润率确实可能导致股市暂停。”“当然，如果工资通胀开始蔓延，我认为这将会引起人们的注意。”</blockquote></p><p> Shares ofDarden RestaurantsInc.meanwhile, rose 3.2% the day after the parent company of Olive Gardentopped earnings estimates, even as it pointed to a rise in the costs of food and labor. The company shared a sales forecast that assumes full operating capacity for essentially all restaurants and no significant interruptions related to the pandemic.</p><p><blockquote>与此同时，Olive Garden母公司盈利超出预期的第二天，Darden Restaurants Inc.的股价上涨3.2%，尽管该公司指出食品和劳动力成本上涨。该公司分享了一份销售预测，假设基本上所有餐厅都已满负荷运营，并且没有与大流行相关的重大中断。</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>Earnings Kick Off With Sky-High Forecasts, Record Stock Market<blockquote>盈利以天价预测拉开帷幕，股市创历史新高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEarnings Kick Off With Sky-High Forecasts, Record Stock Market<blockquote>盈利以天价预测拉开帷幕，股市创历史新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-07-12 07:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  With stock valuations sitting above long-term norms, investors will be looking to company executives for clues on future profits.  Wall Street is heading into earnings season this week with high expectations after strong profits fueled a stock market rally in the first half of the year.</p><p><blockquote>由于股票估值高于长期正常水平，投资者将向公司高管寻求未来利润的线索。在上半年强劲的利润推动股市上涨后，华尔街本周带着很高的期望进入财报季。</blockquote></p><p> Money managers will be watching whether companies will again trounce Wall Street’s forecasts for earnings. The S&amp;P 500 has gained 16% this year and notched 38 record closes, most recently on Friday.</p><p><blockquote>基金经理将关注公司是否会再次超出华尔街的盈利预测。标普500今年已上涨16%，并创下38次收盘纪录，最近一次是在周五。</blockquote></p><p> With stock valuations sitting above long-term norms, investors will also be looking to executives for clues on what the future holds for company profits.</p><p><blockquote>由于股票估值高于长期正常水平，投资者还将向高管寻求有关公司利润未来前景的线索。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a3b557a54040f8c8702b3328a3c51ed9\" tg-width=\"337\" tg-height=\"414\" referrerpolicy=\"no-referrer\">“Do people reward the markets even further from the levels that we’re seeing today?” said Amy Kong, chief investment officer at Barrett Asset Management. “It really depends I think on what management teams would say.”</p><p><blockquote>“人们对市场的回报是否会比我们今天看到的水平更高？”巴雷特资产管理公司首席投资官Amy Kong表示。“我认为这真的取决于管理团队会怎么说。”</blockquote></p><p> Investors this week will parse results from big banks like JPMorgan Chase &amp; Co. and Bank of America Corp., as well as from companies ranging from PepsiCo Inc. toDelta Air LinesInc.DAL2.02%toUnitedHealth GroupInc.UNH0.53%</p><p><blockquote>投资者本周将分析摩根大通和美国银行等大银行以及百事可乐公司、达美航空公司、联合健康集团等公司的业绩</blockquote></p><p> The company earnings will offer a glimpse into how businesses are doing more than a year after the pandemicplunged the U.S. into a recession. With questions about the path of inflation and the labor market unresolved, investors haveshown signs of skittishnessabout the market’s course in the coming months.</p><p><blockquote>在疫情使美国陷入衰退一年多后，该公司的收益将让我们一睹企业的表现。由于有关通胀路径和劳动力市场的问题尚未解决，投资者对未来几个月的市场走势表现出不安的迹象。</blockquote></p><p> Analysts project that profits for S&amp;P 500 companies rose 64% in the second quarter from a year earlier, according to FactSet, a growth rate that would be the highest in more than a decade. However, the growth will be measured from a period when much of the economy had been brought to a standstill from the pandemic as consumers retreated and some businesses saw steep declines in revenue. Analysts expect businesses constrained by the pandemic and economic slowdown, like the financial and industrial sectors, to more than double their profits from the same period in 2020.</p><p><blockquote>FactSet的数据显示，分析师预计标普500公司第二季度利润同比增长64%，这一增长率将是十多年来的最高水平。然而，这一增长将是在疫情导致大部分经济陷入停滞的时期来衡量的，因为消费者撤退，一些企业的收入急剧下降。分析师预计，受疫情和经济放缓限制的企业，如金融和工业部门，其利润将比2020年同期增长一倍以上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ea3485d0ca239f089d056ae1a67be293\" tg-width=\"317\" tg-height=\"429\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Also, forecasts have drifted higher in recent months, helped by an unusually large number of companies advising investors that they expect earnings to come in higher than analysts had been estimating.</p><p><blockquote>此外，近几个月来，预测有所上升，这得益于数量异常多的公司向投资者表示，他们预计盈利将高于分析师的预期。</blockquote></p><p> “The reason for that is simple: The speed and robustness of the recovery is greater today than everyone anticipated three months ago,” said Hal Reynolds, chief investment officer at Los Angeles Capital Management.</p><p><blockquote>洛杉矶资本管理公司首席投资官哈尔·雷诺兹表示：“原因很简单：今天复苏的速度和强劲程度超出了三个月前所有人的预期。”</blockquote></p><p> It is more common for companies to try to lower expectations as they head into a reporting season.</p><p><blockquote>在进入财报季时，公司试图降低预期的情况更为常见。</blockquote></p><p> Federal Reserve officials at the central bank’s June policy meeting suggested theymight need to dial back their supportfor the economy earlier than expected because growth has been so strong.</p><p><blockquote>美联储官员在六月政策会议上表示，他们可能需要比预期更早地减少对经济的支持，因为经济增长如此强劲。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/106ca1452ace2794d634ea68a562e334\" tg-width=\"296\" tg-height=\"417\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> At the same time, investors in recent days have been considering the threat that labor shortages, supply-chain bottlenecks and thehighly contagious Delta variantof the coronavirus might pose to their rosy economic outlooks.</p><p><blockquote>与此同时，投资者最近几天一直在考虑劳动力短缺、供应链瓶颈和高传染性的冠状病毒三角洲变种可能对其乐观的经济前景构成的威胁。</blockquote></p><p> A rally in ultrasafe government bonds pushed the yield on the benchmark 10-year U.S. Treasury notebelow 1.3% last week, settling Thursday at its lowest level since February. Stocks sold off, with the S&amp;P 500, Dow Jones Industrial Average and tech-heavy Nasdaq Composite on Thursdaysuffering their worst daily performancesin nearly three weeks before bouncing higher Friday.</p><p><blockquote>超安全政府债券的上涨推动基准10年期美国国债收益率上周跌破1.3%，周四收于2月份以来的最低水平。股市遭到抛售，标普500、道琼斯工业平均指数和以科技股为主的纳斯达克综合指数周四遭遇近三周来最差单日表现，周五反弹走高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/628f86f4b1c8df342c39ad290fcf6670\" tg-width=\"333\" tg-height=\"416\" referrerpolicy=\"no-referrer\">Investors are weighing each new development with an eye on the hefty price tags that stocks have commanded since the market last year rocketed up from its pandemic lows.</p><p><blockquote>投资者正在权衡每一项新进展，着眼于自去年市场从大流行低点飙升以来股市的高昂价格。</blockquote></p><p> The S&amp;P 500 traded Thursday at nearly 22 times expected earnings over the next 12 months, above a five-year average of a little more than 18.</p><p><blockquote>标普500周四的市盈率接近未来12个月预期市盈率的22倍，高于略高于18的五年平均水平。</blockquote></p><p> “Valuations on their own don’t kill a market, but valuations make you vulnerable if there’s an unpleasant surprise,” said Tom Hancock, lead portfolio manager of the GMO Quality Fund.</p><p><blockquote>转基因质量基金首席投资组合经理汤姆·汉考克表示：“估值本身不会扼杀市场，但如果出现令人不快的意外，估值会让你变得脆弱。”</blockquote></p><p> The economy’s rebound from the pandemic has driven asurge in consumer prices, and investors want to know how higher costs for anything from materials to labor will affect corporations’ bottom lines.</p><p><blockquote>经济从疫情中的反弹推动了消费者价格的飙升，投资者想知道从材料到劳动力的成本上升将如何影响企业的利润。</blockquote></p><p> Forecasts call for an S&amp;P 500 net profit margin of 11.8% in the second quarter, above the five-year average of 10.6%, according to FactSet. That recent efficiency in generating profits could be vulnerable as costs rise.</p><p><blockquote>FactSet的数据显示，看涨期权预计第二季度标普500净利润率为11.8%，高于10.6%的五年平均水平。随着成本上升，最近的盈利效率可能会变得脆弱。</blockquote></p><p></p><p> There are signs investors might look harshly on companies struggling to stay fully staffed.FedExCorp.shares fell 3.9% the day after the delivery giant’s June earnings report—and executives saiddifficulty hiring package handlershad driven wages higher and created inefficiency.</p><p><blockquote>有迹象表明，投资者可能会严厉看待那些努力保持人员充足的公司。在这家快递巨头发布6月份收益报告后的第二天，联邦快递公司股价下跌3.9%，高管们表示，招聘包裹处理员的困难导致工资上涨并造成效率低下。</blockquote></p><p> If that experience turns out to be widely shared, it could reshape expectations for the costs that U.S. companies will bear going forward—and potentially the prices their shares are worth.</p><p><blockquote>如果这一经验被广泛分享，它可能会重塑人们对美国公司未来将承担的成本的预期，并可能重塑其股票的价值。</blockquote></p><p> “I come back to inflation and margins being something that could really create a pause with stocks,” said Larry Cordisco, co-lead portfolio manager of the Osterweis Growth &amp; Income Fund. “Certainly if there’s wage inflation that starts to take hold, I think that is going to get people’s attention.”</p><p><blockquote>Osterweis Growth&amp;Income基金联席首席投资组合经理拉里·科迪斯科(Larry Cordisco)表示：“我回到通胀和利润率确实可能导致股市暂停。”“当然，如果工资通胀开始蔓延，我认为这将会引起人们的注意。”</blockquote></p><p> Shares ofDarden RestaurantsInc.meanwhile, rose 3.2% the day after the parent company of Olive Gardentopped earnings estimates, even as it pointed to a rise in the costs of food and labor. The company shared a sales forecast that assumes full operating capacity for essentially all restaurants and no significant interruptions related to the pandemic.</p><p><blockquote>与此同时，Olive Garden母公司盈利超出预期的第二天，Darden Restaurants Inc.的股价上涨3.2%，尽管该公司指出食品和劳动力成本上涨。该公司分享了一份销售预测，假设基本上所有餐厅都已满负荷运营，并且没有与大流行相关的重大中断。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/earnings-kick-off-with-sky-high-forecasts-record-stock-market-11625995802?mod=hp_lead_pos1\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.wsj.com/articles/earnings-kick-off-with-sky-high-forecasts-record-stock-market-11625995802?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133868961","content_text":"With stock valuations sitting above long-term norms, investors will be looking to company executives for clues on future profits.\n\nWall Street is heading into earnings season this week with high expectations after strong profits fueled a stock market rally in the first half of the year.\nMoney managers will be watching whether companies will again trounce Wall Street’s forecasts for earnings. The S&P 500 has gained 16% this year and notched 38 record closes, most recently on Friday.\nWith stock valuations sitting above long-term norms, investors will also be looking to executives for clues on what the future holds for company profits.\n“Do people reward the markets even further from the levels that we’re seeing today?” said Amy Kong, chief investment officer at Barrett Asset Management. “It really depends I think on what management teams would say.”\nInvestors this week will parse results from big banks like JPMorgan Chase & Co. and Bank of America Corp., as well as from companies ranging from PepsiCo Inc. toDelta Air LinesInc.DAL2.02%toUnitedHealth GroupInc.UNH0.53%\nThe company earnings will offer a glimpse into how businesses are doing more than a year after the pandemicplunged the U.S. into a recession. With questions about the path of inflation and the labor market unresolved, investors haveshown signs of skittishnessabout the market’s course in the coming months.\nAnalysts project that profits for S&P 500 companies rose 64% in the second quarter from a year earlier, according to FactSet, a growth rate that would be the highest in more than a decade. However, the growth will be measured from a period when much of the economy had been brought to a standstill from the pandemic as consumers retreated and some businesses saw steep declines in revenue. Analysts expect businesses constrained by the pandemic and economic slowdown, like the financial and industrial sectors, to more than double their profits from the same period in 2020.\n\nAlso, forecasts have drifted higher in recent months, helped by an unusually large number of companies advising investors that they expect earnings to come in higher than analysts had been estimating.\n“The reason for that is simple: The speed and robustness of the recovery is greater today than everyone anticipated three months ago,” said Hal Reynolds, chief investment officer at Los Angeles Capital Management.\nIt is more common for companies to try to lower expectations as they head into a reporting season.\nFederal Reserve officials at the central bank’s June policy meeting suggested theymight need to dial back their supportfor the economy earlier than expected because growth has been so strong.\n\nAt the same time, investors in recent days have been considering the threat that labor shortages, supply-chain bottlenecks and thehighly contagious Delta variantof the coronavirus might pose to their rosy economic outlooks.\nA rally in ultrasafe government bonds pushed the yield on the benchmark 10-year U.S. Treasury notebelow 1.3% last week, settling Thursday at its lowest level since February. Stocks sold off, with the S&P 500, Dow Jones Industrial Average and tech-heavy Nasdaq Composite on Thursdaysuffering their worst daily performancesin nearly three weeks before bouncing higher Friday.\nInvestors are weighing each new development with an eye on the hefty price tags that stocks have commanded since the market last year rocketed up from its pandemic lows.\nThe S&P 500 traded Thursday at nearly 22 times expected earnings over the next 12 months, above a five-year average of a little more than 18.\n“Valuations on their own don’t kill a market, but valuations make you vulnerable if there’s an unpleasant surprise,” said Tom Hancock, lead portfolio manager of the GMO Quality Fund.\nThe economy’s rebound from the pandemic has driven asurge in consumer prices, and investors want to know how higher costs for anything from materials to labor will affect corporations’ bottom lines.\nForecasts call for an S&P 500 net profit margin of 11.8% in the second quarter, above the five-year average of 10.6%, according to FactSet. That recent efficiency in generating profits could be vulnerable as costs rise.\nThere are signs investors might look harshly on companies struggling to stay fully staffed.FedExCorp.shares fell 3.9% the day after the delivery giant’s June earnings report—and executives saiddifficulty hiring package handlershad driven wages higher and created inefficiency.\nIf that experience turns out to be widely shared, it could reshape expectations for the costs that U.S. companies will bear going forward—and potentially the prices their shares are worth.\n“I come back to inflation and margins being something that could really create a pause with stocks,” said Larry Cordisco, co-lead portfolio manager of the Osterweis Growth & Income Fund. “Certainly if there’s wage inflation that starts to take hold, I think that is going to get people’s attention.”\nShares ofDarden RestaurantsInc.meanwhile, rose 3.2% the day after the parent company of Olive Gardentopped earnings estimates, even as it pointed to a rise in the costs of food and labor. The company shared a sales forecast that assumes full operating capacity for essentially all restaurants and no significant interruptions related to the pandemic.","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":524,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":153374241,"gmtCreate":1625011981883,"gmtModify":1633945936291,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/153374241","repostId":"1122418477","repostType":4,"isVote":1,"tweetType":1,"viewCount":412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141288621,"gmtCreate":1625875398163,"gmtModify":1633936571604,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141288621","repostId":"2150030193","repostType":4,"isVote":1,"tweetType":1,"viewCount":243,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803287122,"gmtCreate":1627441843066,"gmtModify":1633764938782,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/803287122","repostId":"2154991792","repostType":4,"isVote":1,"tweetType":1,"viewCount":535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172264893,"gmtCreate":1626963026312,"gmtModify":1633769325736,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/172264893","repostId":"1154266565","repostType":4,"repost":{"id":"1154266565","kind":"news","pubTimestamp":1626955588,"share":"https://www.laohu8.com/m/news/1154266565?lang=zh_CN&edition=full","pubTime":"2021-07-22 20:06","market":"us","language":"en","title":"How to invest as the Delta variant takes hold<blockquote>随着德尔塔变异毒株的到来如何投资</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154266565","media":"cnn","summary":"New York When the market is plunging like it did last Friday and on Monday, it's tempting to throw in the towel and sell. Big drops can be scary.But dumping stocks on days when the Dow is getting whacked is usually the wrong thing to do. Stocks roared back Tuesday and were up again Wednesday.If you're investing for the long haul, the best thing you can do is ride out this wave of volatility.\"Stay invested,\" said Seema Shah, chief strategist at Principal Global Investors. Shah told CNN Business t","content":"<p>New York (CNN Business)When the market is plunging like it did last Friday and on Monday, it's tempting to throw in the towel and sell. Big drops can be scary.</p><p><blockquote>纽约（CNN商业）当市场像上周五和周一那样暴跌时，人们很容易认输并卖出。大跌可能会很可怕。</blockquote></p><p> But dumping stocks on days when the Dow is getting whacked is usually the wrong thing to do. Stocks roared back Tuesday and were up again Wednesday.</p><p><blockquote>但在道琼斯指数遭受重创的日子抛售股票通常是错误的做法。周二股市大幅反弹，周三再次上涨。</blockquote></p><p> Yes, the Delta variant of Covid-19 has led to an alarming uptick in coronavirus cases in the United States and around the globe. But many experts think the massive number of vaccinations that have already taken place will prevent the economy and markets from going into another tailspin.</p><p><blockquote>是的，新冠肺炎的德尔塔变异毒株导致美国和全球冠状病毒病例惊人地上升。但许多专家认为，已经进行的大量疫苗接种将防止经济和市场陷入另一场混乱。</blockquote></p><p> If you're investing for the long haul, the best thing you can do is ride out this wave of volatility.</p><p><blockquote>如果你是长期投资，你能做的最好的事情就是安然度过这波波动。</blockquote></p><p> \"Stay invested,\" said Seema Shah, chief strategist at Principal Global Investors. Shah told CNN Business that the Delta variant is highly unlikely to stop the economic recovery in the US and other parts of the developed world where vaccination rates are high.</p><p><blockquote>信安全球投资者首席策略师Seema Shah表示：“保持投资。”沙阿告诉美国有线电视新闻网商业频道，德尔塔变异毒株不太可能阻止美国和其他疫苗接种率较高的发达国家的经济复苏。</blockquote></p><p> \"The vaccine is effective,\" she said. \"If cases are rising but hospitalization rates remain low, then the reopening measures from governments will continue.\"</p><p><blockquote>“疫苗是有效的，”她说。“如果病例在上升，但住院率仍然很低，那么政府的重新开放措施将继续下去。”</blockquote></p><p> Still, Shah conceded, investors should be more selective. After all, the S&amp;P 500 has nearly doubled from its pandemic lows in March 2020, and not all stocks and sectors will maintain their momentum.</p><p><blockquote>尽管如此，沙阿承认，投资者应该更加挑剔。毕竟，标普500较2020年3月的大流行低点上涨了近一倍，并非所有股票和板块都将保持其势头。</blockquote></p><p> She thinks defensive sectors might start to pull back a bit. Those include utilities, health care and others companies that pay big dividends and are considered good bond proxies.</p><p><blockquote>她认为防御性板块可能会开始小幅回调。其中包括公用事业、医疗保健和其他支付高额股息并被认为是良好债券代理的公司。</blockquote></p><p> The FAANGs and other big tech stocks, many of which have strong earnings momentum and tons of cash, should continue to rally, she said.</p><p><blockquote>她表示，FAANG和其他大型科技股应该会继续上涨，其中许多股拥有强劲的盈利势头和大量现金。</blockquote></p><p> <b>Not the time to bail on the market</b></p><p><blockquote><b>现在不是退出市场的时候</b></blockquote></p><p> So should economic recovery plays in the travel and retail sectors that have pulled back lately on Covid concerns. United (UAL), for example, issued an upbeat outlook after the closing bell Tuesday.</p><p><blockquote>旅游和零售行业的经济复苏也应该如此，这些行业最近因新冠疫情担忧而回落。例如，美联航(UAL)在周二收盘后发布了乐观的前景。</blockquote></p><p> \"Airlines have been beaten up,\" Shah said. \"But if you assume the reopening will continue, they should enjoy a significant bounceback.\"</p><p><blockquote>“航空公司受到了打击，”沙阿说。“但如果你假设重新开放将继续，他们应该会享受显着的反弹。”</blockquote></p><p> Stocks may remain bumpy for the foreseeable future, but that shouldn't dissuade investors from sticking with their longer-term investments.</p><p><blockquote>在可预见的未来，股市可能仍然坎坷，但这不应阻止投资者坚持长期投资。</blockquote></p><p> \"The uncertainty of the past couple of days is warranted for the short term,\" said Peter van der Welle, multi-asset strategist at Robeco. \"But there should be a second leg to the reflation trade.\"</p><p><blockquote>荷宝多资产策略师Peter van der Welle表示：“过去几天的不确定性在短期内是合理的。”“但通货再膨胀交易应该有第二条腿。”</blockquote></p><p> Van der Welle noted that there are many reasons to be optimistic about continued gains in consumer spending and retail sales, despite a recent drop in consumer confidence.</p><p><blockquote>范德韦勒指出，尽管近期消费者信心有所下降，但仍有许多理由对消费者支出和零售额的持续增长持乐观态度。</blockquote></p><p> <b>Buy the dips</b></p><p><blockquote><b>逢低买入</b></blockquote></p><p> Any wariness on the part of consumers — and investors, for that matter — could turn out to be fleeting.</p><p><blockquote>消费者——以及投资者——的任何谨慎都可能转瞬即逝。</blockquote></p><p> \"If you are a long-term investor, take advantage of this volatility and add to positions in companies and sectors you really like,\" said Phil Orlando, chief equity market strategist at Federated Hermes.</p><p><blockquote>Federated Hermes首席股票市场策略师菲尔·奥兰多(Phil Orlando)表示：“如果你是长期投资者，请利用这种波动性，增持你真正喜欢的公司和行业。”</blockquote></p><p> He he belives stocks in cyclical industries that have gotten hit because of Delta variant fears could enjoy the biggest rebounds.</p><p><blockquote>他认为，因德尔塔变异毒株担忧而受到打击的周期性行业股票可能会出现最大的反弹。</blockquote></p><p> \"There are stocks that have hit an air pocket that could be very attractive. We love the economically sensitive sectors,\" Orlando added, saying that banks and other financials, industrial firms, retailers and energy stocks may come roaring back.</p><p><blockquote>奥兰多补充道：“有些股票已经陷入困境，可能非常有吸引力。我们喜欢对经济敏感的行业。”他表示，银行和其他金融股、工业公司、零售商和能源股可能会大幅反弹。</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>How to invest as the Delta variant takes hold<blockquote>随着德尔塔变异毒株的到来如何投资</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\">\nHow to invest as the Delta variant takes hold<blockquote>随着德尔塔变异毒株的到来如何投资</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-07-22 20:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>New York (CNN Business)When the market is plunging like it did last Friday and on Monday, it's tempting to throw in the towel and sell. Big drops can be scary.</p><p><blockquote>纽约（CNN商业）当市场像上周五和周一那样暴跌时，人们很容易认输并卖出。大跌可能会很可怕。</blockquote></p><p> But dumping stocks on days when the Dow is getting whacked is usually the wrong thing to do. Stocks roared back Tuesday and were up again Wednesday.</p><p><blockquote>但在道琼斯指数遭受重创的日子抛售股票通常是错误的做法。周二股市大幅反弹，周三再次上涨。</blockquote></p><p> Yes, the Delta variant of Covid-19 has led to an alarming uptick in coronavirus cases in the United States and around the globe. But many experts think the massive number of vaccinations that have already taken place will prevent the economy and markets from going into another tailspin.</p><p><blockquote>是的，新冠肺炎的德尔塔变异毒株导致美国和全球冠状病毒病例惊人地上升。但许多专家认为，已经进行的大量疫苗接种将防止经济和市场陷入另一场混乱。</blockquote></p><p> If you're investing for the long haul, the best thing you can do is ride out this wave of volatility.</p><p><blockquote>如果你是长期投资，你能做的最好的事情就是安然度过这波波动。</blockquote></p><p> \"Stay invested,\" said Seema Shah, chief strategist at Principal Global Investors. Shah told CNN Business that the Delta variant is highly unlikely to stop the economic recovery in the US and other parts of the developed world where vaccination rates are high.</p><p><blockquote>信安全球投资者首席策略师Seema Shah表示：“保持投资。”沙阿告诉美国有线电视新闻网商业频道，德尔塔变异毒株不太可能阻止美国和其他疫苗接种率较高的发达国家的经济复苏。</blockquote></p><p> \"The vaccine is effective,\" she said. \"If cases are rising but hospitalization rates remain low, then the reopening measures from governments will continue.\"</p><p><blockquote>“疫苗是有效的，”她说。“如果病例在上升，但住院率仍然很低，那么政府的重新开放措施将继续下去。”</blockquote></p><p> Still, Shah conceded, investors should be more selective. After all, the S&amp;P 500 has nearly doubled from its pandemic lows in March 2020, and not all stocks and sectors will maintain their momentum.</p><p><blockquote>尽管如此，沙阿承认，投资者应该更加挑剔。毕竟，标普500较2020年3月的大流行低点上涨了近一倍，并非所有股票和板块都将保持其势头。</blockquote></p><p> She thinks defensive sectors might start to pull back a bit. Those include utilities, health care and others companies that pay big dividends and are considered good bond proxies.</p><p><blockquote>她认为防御性板块可能会开始小幅回调。其中包括公用事业、医疗保健和其他支付高额股息并被认为是良好债券代理的公司。</blockquote></p><p> The FAANGs and other big tech stocks, many of which have strong earnings momentum and tons of cash, should continue to rally, she said.</p><p><blockquote>她表示，FAANG和其他大型科技股应该会继续上涨，其中许多股拥有强劲的盈利势头和大量现金。</blockquote></p><p> <b>Not the time to bail on the market</b></p><p><blockquote><b>现在不是退出市场的时候</b></blockquote></p><p> So should economic recovery plays in the travel and retail sectors that have pulled back lately on Covid concerns. United (UAL), for example, issued an upbeat outlook after the closing bell Tuesday.</p><p><blockquote>旅游和零售行业的经济复苏也应该如此，这些行业最近因新冠疫情担忧而回落。例如，美联航(UAL)在周二收盘后发布了乐观的前景。</blockquote></p><p> \"Airlines have been beaten up,\" Shah said. \"But if you assume the reopening will continue, they should enjoy a significant bounceback.\"</p><p><blockquote>“航空公司受到了打击，”沙阿说。“但如果你假设重新开放将继续，他们应该会享受显着的反弹。”</blockquote></p><p> Stocks may remain bumpy for the foreseeable future, but that shouldn't dissuade investors from sticking with their longer-term investments.</p><p><blockquote>在可预见的未来，股市可能仍然坎坷，但这不应阻止投资者坚持长期投资。</blockquote></p><p> \"The uncertainty of the past couple of days is warranted for the short term,\" said Peter van der Welle, multi-asset strategist at Robeco. \"But there should be a second leg to the reflation trade.\"</p><p><blockquote>荷宝多资产策略师Peter van der Welle表示：“过去几天的不确定性在短期内是合理的。”“但通货再膨胀交易应该有第二条腿。”</blockquote></p><p> Van der Welle noted that there are many reasons to be optimistic about continued gains in consumer spending and retail sales, despite a recent drop in consumer confidence.</p><p><blockquote>范德韦勒指出，尽管近期消费者信心有所下降，但仍有许多理由对消费者支出和零售额的持续增长持乐观态度。</blockquote></p><p> <b>Buy the dips</b></p><p><blockquote><b>逢低买入</b></blockquote></p><p> Any wariness on the part of consumers — and investors, for that matter — could turn out to be fleeting.</p><p><blockquote>消费者——以及投资者——的任何谨慎都可能转瞬即逝。</blockquote></p><p> \"If you are a long-term investor, take advantage of this volatility and add to positions in companies and sectors you really like,\" said Phil Orlando, chief equity market strategist at Federated Hermes.</p><p><blockquote>Federated Hermes首席股票市场策略师菲尔·奥兰多(Phil Orlando)表示：“如果你是长期投资者，请利用这种波动性，增持你真正喜欢的公司和行业。”</blockquote></p><p> He he belives stocks in cyclical industries that have gotten hit because of Delta variant fears could enjoy the biggest rebounds.</p><p><blockquote>他认为，因德尔塔变异毒株担忧而受到打击的周期性行业股票可能会出现最大的反弹。</blockquote></p><p> \"There are stocks that have hit an air pocket that could be very attractive. We love the economically sensitive sectors,\" Orlando added, saying that banks and other financials, industrial firms, retailers and energy stocks may come roaring back.</p><p><blockquote>奥兰多补充道：“有些股票已经陷入困境，可能非常有吸引力。我们喜欢对经济敏感的行业。”他表示，银行和其他金融股、工业公司、零售商和能源股可能会大幅反弹。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/07/21/investing/investing-stock-market-volatility/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://edition.cnn.com/2021/07/21/investing/investing-stock-market-volatility/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154266565","content_text":"New York (CNN Business)When the market is plunging like it did last Friday and on Monday, it's tempting to throw in the towel and sell. Big drops can be scary.\nBut dumping stocks on days when the Dow is getting whacked is usually the wrong thing to do. Stocks roared back Tuesday and were up again Wednesday.\nYes, the Delta variant of Covid-19 has led to an alarming uptick in coronavirus cases in the United States and around the globe. But many experts think the massive number of vaccinations that have already taken place will prevent the economy and markets from going into another tailspin.\nIf you're investing for the long haul, the best thing you can do is ride out this wave of volatility.\n\"Stay invested,\" said Seema Shah, chief strategist at Principal Global Investors. Shah told CNN Business that the Delta variant is highly unlikely to stop the economic recovery in the US and other parts of the developed world where vaccination rates are high.\n\"The vaccine is effective,\" she said. \"If cases are rising but hospitalization rates remain low, then the reopening measures from governments will continue.\"\nStill, Shah conceded, investors should be more selective. After all, the S&P 500 has nearly doubled from its pandemic lows in March 2020, and not all stocks and sectors will maintain their momentum.\nShe thinks defensive sectors might start to pull back a bit. Those include utilities, health care and others companies that pay big dividends and are considered good bond proxies.\nThe FAANGs and other big tech stocks, many of which have strong earnings momentum and tons of cash, should continue to rally, she said.\nNot the time to bail on the market\nSo should economic recovery plays in the travel and retail sectors that have pulled back lately on Covid concerns. United (UAL), for example, issued an upbeat outlook after the closing bell Tuesday.\n\"Airlines have been beaten up,\" Shah said. \"But if you assume the reopening will continue, they should enjoy a significant bounceback.\"\nStocks may remain bumpy for the foreseeable future, but that shouldn't dissuade investors from sticking with their longer-term investments.\n\"The uncertainty of the past couple of days is warranted for the short term,\" said Peter van der Welle, multi-asset strategist at Robeco. \"But there should be a second leg to the reflation trade.\"\nVan der Welle noted that there are many reasons to be optimistic about continued gains in consumer spending and retail sales, despite a recent drop in consumer confidence.\nBuy the dips\nAny wariness on the part of consumers — and investors, for that matter — could turn out to be fleeting.\n\"If you are a long-term investor, take advantage of this volatility and add to positions in companies and sectors you really like,\" said Phil Orlando, chief equity market strategist at Federated Hermes.\nHe he belives stocks in cyclical industries that have gotten hit because of Delta variant fears could enjoy the biggest rebounds.\n\"There are stocks that have hit an air pocket that could be very attractive. We love the economically sensitive sectors,\" Orlando added, saying that banks and other financials, industrial firms, retailers and energy stocks may come roaring back.","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":683,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893079970,"gmtCreate":1628224759390,"gmtModify":1633752426217,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/893079970","repostId":"1199377263","repostType":4,"repost":{"id":"1199377263","kind":"news","pubTimestamp":1628222564,"share":"https://www.laohu8.com/m/news/1199377263?lang=zh_CN&edition=full","pubTime":"2021-08-06 12:02","market":"us","language":"en","title":"The S&P 500 looks strong — but these ‘internals’ are far less positive<blockquote>标普500看起来很强劲——但这些“内部因素”远没有那么积极</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199377263","media":"MarketWatch","summary":"The S&P 500 index continues to accelerate to the upside. A new all-time closing high was registered ","content":"<p>The S&amp;P 500 index continues to accelerate to the upside. A new all-time closing high was registered on Tuesday. Yet, the “internals” of the market remain in a far worse state. This has been the case for some time (since June 11, at least), and it may continue to be the case for a while longer.</p><p><blockquote>标普500指数继续加速上行。周二创下历史收盘新高。然而，市场的“内部”仍然处于更糟糕的状态。这种情况已经持续了一段时间（至少自6月11日以来），而且这种情况可能会持续一段时间。</blockquote></p><p> But as long as the S&amp;P&nbsp;chart is positive and above support, a “core” long position is recommended.</p><p><blockquote>但只要标普图表为正且高于支撑位，建议建立“核心”多头头寸。</blockquote></p><p> The first support level is now roughly 4370. That was the low on the two most recent days on which SPX sold off and then rebounded – July 27 and Tuesday (yes, the same day that SPX bounced back from that level and then closed at a new all-time high). Since it has been doubly tested, that makes it a viable support level. There is resistance at 4430, the all-time intraday high.</p><p><blockquote>第一支撑位现在大致在4370。这是SPX抛售然后反弹的最近两天的低点——7月27日和周二（是的，同一天SPX从该水平反弹，然后收于历史新高）。由于它已经过双重测试，这使它成为一个可行的支撑位。盘中历史高点4430有阻力。</blockquote></p><p> You can see from the accompanying chart that SPX has been in a rather right trading since July 23 – between 4370 and 4430.</p><p><blockquote>你可以从附图中看到，自7月23日以来，SPX一直处于相当正确的交易状态——在4370到4430之间。</blockquote></p><p> A breakout from that range will be significant. If it were to break to the downside, that would be a negative for the SPX chart. Below there, a major support area exists at 4233, and it would likely be tested quickly after a break below 4370.</p><p><blockquote>突破该范围将具有重要意义。如果它向下突破，这将对SPX图表不利。在此下方，主要支撑区域位于4233点，跌破4370点后可能会很快受到测试。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8fde9899a8fd1227a022dfe59858d4c5\" tg-width=\"699\" tg-height=\"523\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> So the SPX chart is still positive, but there is a McMillan Volatility Band (MVB) sell signal in place (green “S” on chart).</p><p><blockquote>因此，SPX图表仍然是积极的，但有一个麦克米兰波动带（MVB）卖出信号（图表上的绿色“S”）。</blockquote></p><p> Now let’s look at some of the indicators that encompass a larger number of stocks. You will see that they are far less positive. First are the equity-only put-call ratios. These have been rising for a month, meaning they have been on sell signals during that time. Put volume has been heavy, relative to call volume, and that is what is causing these ratios to rise. It looks like there is a slight “wiggle” in the standard ratio’s chart, but the computer analysis programs say that is not significant.</p><p><blockquote>现在让我们看看一些包含大量股票的指标。你会发现他们远没有那么积极。首先是仅股票的看跌看涨期权比率。这些价格已经上涨了一个月，这意味着在此期间它们一直在发出卖出信号。相对于看涨期权交易量，看跌交易量一直很大，这就是导致这些比率上升的原因。看起来标准比率的图表中有轻微的“波动”，但计算机分析程序说这并不显著。</blockquote></p><p> The larger picture here is that as many stocks have been declining, option traders have been buying puts on those stocks, forcing these equity-only put-call ratios higher. As long as the ratios are rising, they will remain on sell signals.</p><p><blockquote>这里更大的情况是，随着许多股票下跌，期权交易者一直在购买这些股票的看跌期权，迫使这些仅股票的看跌期权与看涨期权比率走高。只要比率上升，它们就会保持卖出信号。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/87099f2be31d9ce51b1b0c4708a9f046\" tg-width=\"699\" tg-height=\"535\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f08da61f702fd9abb483cd1d8f5b4ba\" tg-width=\"700\" tg-height=\"523\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> Market breadth (advances minus declines) has been woeful since mid-June. That is, most stocks are going down, even though SPX is going up. In fact, what is driving this market is a handful of large-cap NASDAQ stocks (the FAANG stocks plus Microsoft are the strongest stocks).</p><p><blockquote>自6月中旬以来，市场广度（上涨减去下跌）一直很糟糕。也就是说，大多数股票都在下跌，尽管SPX在上涨。事实上，推动这个市场的是少数大盘股纳斯达克股票（FAANG股票加上微软是最强的股票）。</blockquote></p><p> Things have improved a little in the last couple of weeks, and so our breadth oscillators are on buy signals, but they are still in negative territory. Normally when SPX is making new all-time highs, the breadth oscillators are will into positive territory, reflecting a strong overall market. But that is not the case now.</p><p><blockquote>过去几周情况有所改善，因此我们的宽度振荡器发出买入信号，但仍处于负值区域。通常情况下，当SPX创下历史新高时，宽度振荡指标将进入正值区域，反映出整体市场强劲。但现在情况并非如此。</blockquote></p><p> Moreover, cumulative breadth (the running total of daily advances minus declines) has not made a new all-time high since June 11. SPX has made a new closing or intraday high on 19 separate trading days since then. That is a huge, negative market divergence, but it alone is not a sell signal. Rather, it is a strong warning to be alert – to avoid complacency.</p><p><blockquote>此外，自6月11日以来，累计广度（每日涨幅减去跌幅）尚未创下历史新高。此后，SPX已连续19个交易日创下收盘或盘中新高。这是一个巨大的负面市场背离，但它本身并不是卖出信号。相反，这是一个强烈的警告，要保持警惕——避免自满。</blockquote></p><p> New 52-week highs on the NYSE continue to lead new 52-week lows. Recently, there have been some isolated days where new lows exceeded new highs using NASDAQ or “stocks only” data, but not when using NYSE data. That means this indicator remains bullish for stocks. It would turn negative if NYSE new lows exceeded new highs and were sufficiently large, but that has not happened.</p><p><blockquote>纽交所52周新高继续领涨52周新低。最近，有一些孤立的日子，使用纳斯达克或“仅股票”数据，新低超过新高，但使用纽约证券交易所数据时则不然。这意味着该指标仍然看涨股市。如果纽交所新低超过新高且足够大，则会转为负值，但这种情况并未发生。</blockquote></p><p> There is a realized volatility sell signal in place, as well. That occurred when the S&amp;P’s 20-day historical volatility first fell below 8% (in mid-June) and then later rose above 11% (in late July).</p><p><blockquote>还有一个已实现的波动性卖出信号。这发生在标准普尔20天历史波动率首先跌破8%（6月中旬），然后升至11%以上（7月下旬）。</blockquote></p><p> Implied volatility, on the other hand, remains in a bullish state, as far the stock market is concerned. The VIX “spike peak” buy signal of July 20 remains in place. Moreover, the VIX 200-day moving average is still declining and is well above the price of VIX.There has been a slow “creep” upward by VIX, from 15 to 19 over the last month, but that doesn’t appear to be a significant change of trend.</p><p><blockquote>另一方面，就股市而言，隐含波动率仍处于看涨状态。7月20日的VIX“峰值”买入信号仍然存在。而且，VIX 200日均线仍在下降，远高于VIX的价格。上个月，VIX指数从15点缓慢“攀升”至19点，但这似乎并不是趋势的重大变化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e3501a851250cf90d4f08e0152a5d9a9\" tg-width=\"700\" tg-height=\"524\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p></p><p> Finally, the construct of volatility derivatives remains positive for the stock market. The VIX futures are trading at a premium to VIX, and the term structures of those VIX futures and the CBOE Volatility Indices slope upward.</p><p><blockquote>最后，波动性衍生品的结构对股市仍然有利。VIX期货的交易价格高于VIX，这些VIX期货和CBOE波动率指数的期限结构向上倾斜。</blockquote></p><p> The SPX chart is still positive. That is the most important fact. Until that changes, a long “core” position is recommended. Around that, one can trade confirmed signals – both buy and sell. A violation of the 4370 area by SPX would change things for the negative, but a breakout to new all-time highs above 4430 would reinforce the bullish case.</p><p><blockquote>SPX图表仍然是积极的。这是最重要的事实。在这种情况发生变化之前，建议持有多头“核心”头寸。围绕这一点，人们可以交易确认的信号——买入和卖出。SPX突破4370区域将改变负面影响，但突破4430以上的历史新高将强化看涨理由。</blockquote></p><p> <b>New recommendation: Conditional SPX sell signal</b></p><p><blockquote><b>新建议：有条件SPX卖出信号</b></blockquote></p><p> Based on the above article, we are going to lay out some parameters regarding taking a bearish position should SPX support be broken:</p><p><blockquote>根据上述文章，我们将列出一些有关在SPX支撑位被突破时采取看跌头寸的参数：</blockquote></p><p> <b>IF SPX trades below 4370 and stays there for an hour,</b></p><p><blockquote><b>如果SPX低于4370并在那里停留一小时，</b></blockquote></p><p> <b>THEN buy 1 SPY Aug (27th) at-the-money put</b></p><p><blockquote><b>然后买入1 SPDR标普500指数ETF 8月（27日）平价看跌期权</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And sell 1 SPY Aug (27th) put with a striking price 25 points lower.</b></p><p><blockquote><b>并以下跌25点的价格卖出1 SPDR标普500指数ETF 8月（27日）看跌期权。</b></blockquote></p><p> In addition,</p><p><blockquote>此外，</blockquote></p><p> <b>IF SPX closes below 4370,</b></p><p><blockquote><b>如果SPX收盘低于4370，</b></blockquote></p><p> <b>THEN buy another bear spread:</b></p><p><blockquote><b>然后再买一个熊市价差：</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buy 1 (more) SPY Aug (27th) at-the-money put</b></p><p><blockquote><b>购买1（更多）SPDR标普500指数ETF 8月（27日）平价看跌期权</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And sell 1 (more) SPY Aug (27th) put with a striking price 25 points lower.</b></p><p><blockquote><b>并以较低25点的价格卖出1（更多）SPDR标普500指数ETF 8月（27日）看跌期权。</b></blockquote></p><p> Note that it is possible that the second condition (close below 4370) could occur without the first condition being satisfied (if SPX breaks below 4370 late in a trading day). If that is the case, then buy 2 of these spreads on the close.</p><p><blockquote>请注意，在没有满足第一个条件的情况下，第二个条件（收盘低于4370）可能会发生（如果SPX在交易日晚些时候跌破4370）。如果是这样的话，那么在收盘时买入2个这样的价差。</blockquote></p><p> Finally, if these spreads are established, stop yourself out of all of these bear spreads on an SPX close above 4430.</p><p><blockquote>最后，如果这些价差成立，请在SPX收盘价高于4430时停止所有这些熊市价差。</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>The S&P 500 looks strong — but these ‘internals’ are far less positive<blockquote>标普500看起来很强劲——但这些“内部因素”远没有那么积极</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\">\nThe S&P 500 looks strong — but these ‘internals’ are far less positive<blockquote>标普500看起来很强劲——但这些“内部因素”远没有那么积极</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-06 12:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 index continues to accelerate to the upside. A new all-time closing high was registered on Tuesday. Yet, the “internals” of the market remain in a far worse state. This has been the case for some time (since June 11, at least), and it may continue to be the case for a while longer.</p><p><blockquote>标普500指数继续加速上行。周二创下历史收盘新高。然而，市场的“内部”仍然处于更糟糕的状态。这种情况已经持续了一段时间（至少自6月11日以来），而且这种情况可能会持续一段时间。</blockquote></p><p> But as long as the S&amp;P&nbsp;chart is positive and above support, a “core” long position is recommended.</p><p><blockquote>但只要标普图表为正且高于支撑位，建议建立“核心”多头头寸。</blockquote></p><p> The first support level is now roughly 4370. That was the low on the two most recent days on which SPX sold off and then rebounded – July 27 and Tuesday (yes, the same day that SPX bounced back from that level and then closed at a new all-time high). Since it has been doubly tested, that makes it a viable support level. There is resistance at 4430, the all-time intraday high.</p><p><blockquote>第一支撑位现在大致在4370。这是SPX抛售然后反弹的最近两天的低点——7月27日和周二（是的，同一天SPX从该水平反弹，然后收于历史新高）。由于它已经过双重测试，这使它成为一个可行的支撑位。盘中历史高点4430有阻力。</blockquote></p><p> You can see from the accompanying chart that SPX has been in a rather right trading since July 23 – between 4370 and 4430.</p><p><blockquote>你可以从附图中看到，自7月23日以来，SPX一直处于相当正确的交易状态——在4370到4430之间。</blockquote></p><p> A breakout from that range will be significant. If it were to break to the downside, that would be a negative for the SPX chart. Below there, a major support area exists at 4233, and it would likely be tested quickly after a break below 4370.</p><p><blockquote>突破该范围将具有重要意义。如果它向下突破，这将对SPX图表不利。在此下方，主要支撑区域位于4233点，跌破4370点后可能会很快受到测试。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8fde9899a8fd1227a022dfe59858d4c5\" tg-width=\"699\" tg-height=\"523\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> So the SPX chart is still positive, but there is a McMillan Volatility Band (MVB) sell signal in place (green “S” on chart).</p><p><blockquote>因此，SPX图表仍然是积极的，但有一个麦克米兰波动带（MVB）卖出信号（图表上的绿色“S”）。</blockquote></p><p> Now let’s look at some of the indicators that encompass a larger number of stocks. You will see that they are far less positive. First are the equity-only put-call ratios. These have been rising for a month, meaning they have been on sell signals during that time. Put volume has been heavy, relative to call volume, and that is what is causing these ratios to rise. It looks like there is a slight “wiggle” in the standard ratio’s chart, but the computer analysis programs say that is not significant.</p><p><blockquote>现在让我们看看一些包含大量股票的指标。你会发现他们远没有那么积极。首先是仅股票的看跌看涨期权比率。这些价格已经上涨了一个月，这意味着在此期间它们一直在发出卖出信号。相对于看涨期权交易量，看跌交易量一直很大，这就是导致这些比率上升的原因。看起来标准比率的图表中有轻微的“波动”，但计算机分析程序说这并不显著。</blockquote></p><p> The larger picture here is that as many stocks have been declining, option traders have been buying puts on those stocks, forcing these equity-only put-call ratios higher. As long as the ratios are rising, they will remain on sell signals.</p><p><blockquote>这里更大的情况是，随着许多股票下跌，期权交易者一直在购买这些股票的看跌期权，迫使这些仅股票的看跌期权与看涨期权比率走高。只要比率上升，它们就会保持卖出信号。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/87099f2be31d9ce51b1b0c4708a9f046\" tg-width=\"699\" tg-height=\"535\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f08da61f702fd9abb483cd1d8f5b4ba\" tg-width=\"700\" tg-height=\"523\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> Market breadth (advances minus declines) has been woeful since mid-June. That is, most stocks are going down, even though SPX is going up. In fact, what is driving this market is a handful of large-cap NASDAQ stocks (the FAANG stocks plus Microsoft are the strongest stocks).</p><p><blockquote>自6月中旬以来，市场广度（上涨减去下跌）一直很糟糕。也就是说，大多数股票都在下跌，尽管SPX在上涨。事实上，推动这个市场的是少数大盘股纳斯达克股票（FAANG股票加上微软是最强的股票）。</blockquote></p><p> Things have improved a little in the last couple of weeks, and so our breadth oscillators are on buy signals, but they are still in negative territory. Normally when SPX is making new all-time highs, the breadth oscillators are will into positive territory, reflecting a strong overall market. But that is not the case now.</p><p><blockquote>过去几周情况有所改善，因此我们的宽度振荡器发出买入信号，但仍处于负值区域。通常情况下，当SPX创下历史新高时，宽度振荡指标将进入正值区域，反映出整体市场强劲。但现在情况并非如此。</blockquote></p><p> Moreover, cumulative breadth (the running total of daily advances minus declines) has not made a new all-time high since June 11. SPX has made a new closing or intraday high on 19 separate trading days since then. That is a huge, negative market divergence, but it alone is not a sell signal. Rather, it is a strong warning to be alert – to avoid complacency.</p><p><blockquote>此外，自6月11日以来，累计广度（每日涨幅减去跌幅）尚未创下历史新高。此后，SPX已连续19个交易日创下收盘或盘中新高。这是一个巨大的负面市场背离，但它本身并不是卖出信号。相反，这是一个强烈的警告，要保持警惕——避免自满。</blockquote></p><p> New 52-week highs on the NYSE continue to lead new 52-week lows. Recently, there have been some isolated days where new lows exceeded new highs using NASDAQ or “stocks only” data, but not when using NYSE data. That means this indicator remains bullish for stocks. It would turn negative if NYSE new lows exceeded new highs and were sufficiently large, but that has not happened.</p><p><blockquote>纽交所52周新高继续领涨52周新低。最近，有一些孤立的日子，使用纳斯达克或“仅股票”数据，新低超过新高，但使用纽约证券交易所数据时则不然。这意味着该指标仍然看涨股市。如果纽交所新低超过新高且足够大，则会转为负值，但这种情况并未发生。</blockquote></p><p> There is a realized volatility sell signal in place, as well. That occurred when the S&amp;P’s 20-day historical volatility first fell below 8% (in mid-June) and then later rose above 11% (in late July).</p><p><blockquote>还有一个已实现的波动性卖出信号。这发生在标准普尔20天历史波动率首先跌破8%（6月中旬），然后升至11%以上（7月下旬）。</blockquote></p><p> Implied volatility, on the other hand, remains in a bullish state, as far the stock market is concerned. The VIX “spike peak” buy signal of July 20 remains in place. Moreover, the VIX 200-day moving average is still declining and is well above the price of VIX.There has been a slow “creep” upward by VIX, from 15 to 19 over the last month, but that doesn’t appear to be a significant change of trend.</p><p><blockquote>另一方面，就股市而言，隐含波动率仍处于看涨状态。7月20日的VIX“峰值”买入信号仍然存在。而且，VIX 200日均线仍在下降，远高于VIX的价格。上个月，VIX指数从15点缓慢“攀升”至19点，但这似乎并不是趋势的重大变化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e3501a851250cf90d4f08e0152a5d9a9\" tg-width=\"700\" tg-height=\"524\" width=\"100%\" height=\"auto\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p></p><p> Finally, the construct of volatility derivatives remains positive for the stock market. The VIX futures are trading at a premium to VIX, and the term structures of those VIX futures and the CBOE Volatility Indices slope upward.</p><p><blockquote>最后，波动性衍生品的结构对股市仍然有利。VIX期货的交易价格高于VIX，这些VIX期货和CBOE波动率指数的期限结构向上倾斜。</blockquote></p><p> The SPX chart is still positive. That is the most important fact. Until that changes, a long “core” position is recommended. Around that, one can trade confirmed signals – both buy and sell. A violation of the 4370 area by SPX would change things for the negative, but a breakout to new all-time highs above 4430 would reinforce the bullish case.</p><p><blockquote>SPX图表仍然是积极的。这是最重要的事实。在这种情况发生变化之前，建议持有多头“核心”头寸。围绕这一点，人们可以交易确认的信号——买入和卖出。SPX突破4370区域将改变负面影响，但突破4430以上的历史新高将强化看涨理由。</blockquote></p><p> <b>New recommendation: Conditional SPX sell signal</b></p><p><blockquote><b>新建议：有条件SPX卖出信号</b></blockquote></p><p> Based on the above article, we are going to lay out some parameters regarding taking a bearish position should SPX support be broken:</p><p><blockquote>根据上述文章，我们将列出一些有关在SPX支撑位被突破时采取看跌头寸的参数：</blockquote></p><p> <b>IF SPX trades below 4370 and stays there for an hour,</b></p><p><blockquote><b>如果SPX低于4370并在那里停留一小时，</b></blockquote></p><p> <b>THEN buy 1 SPY Aug (27th) at-the-money put</b></p><p><blockquote><b>然后买入1 SPDR标普500指数ETF 8月（27日）平价看跌期权</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And sell 1 SPY Aug (27th) put with a striking price 25 points lower.</b></p><p><blockquote><b>并以下跌25点的价格卖出1 SPDR标普500指数ETF 8月（27日）看跌期权。</b></blockquote></p><p> In addition,</p><p><blockquote>此外，</blockquote></p><p> <b>IF SPX closes below 4370,</b></p><p><blockquote><b>如果SPX收盘低于4370，</b></blockquote></p><p> <b>THEN buy another bear spread:</b></p><p><blockquote><b>然后再买一个熊市价差：</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buy 1 (more) SPY Aug (27th) at-the-money put</b></p><p><blockquote><b>购买1（更多）SPDR标普500指数ETF 8月（27日）平价看跌期权</b></blockquote></p><p> <b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And sell 1 (more) SPY Aug (27th) put with a striking price 25 points lower.</b></p><p><blockquote><b>并以较低25点的价格卖出1（更多）SPDR标普500指数ETF 8月（27日）看跌期权。</b></blockquote></p><p> Note that it is possible that the second condition (close below 4370) could occur without the first condition being satisfied (if SPX breaks below 4370 late in a trading day). If that is the case, then buy 2 of these spreads on the close.</p><p><blockquote>请注意，在没有满足第一个条件的情况下，第二个条件（收盘低于4370）可能会发生（如果SPX在交易日晚些时候跌破4370）。如果是这样的话，那么在收盘时买入2个这样的价差。</blockquote></p><p> Finally, if these spreads are established, stop yourself out of all of these bear spreads on an SPX close above 4430.</p><p><blockquote>最后，如果这些价差成立，请在SPX收盘价高于4430时停止所有这些熊市价差。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-s-p-500-looks-strong-but-these-internals-are-far-less-positive-01628176855?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":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/the-s-p-500-looks-strong-but-these-internals-are-far-less-positive-01628176855?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199377263","content_text":"The S&P 500 index continues to accelerate to the upside. A new all-time closing high was registered on Tuesday. Yet, the “internals” of the market remain in a far worse state. This has been the case for some time (since June 11, at least), and it may continue to be the case for a while longer.\nBut as long as the S&P chart is positive and above support, a “core” long position is recommended.\nThe first support level is now roughly 4370. That was the low on the two most recent days on which SPX sold off and then rebounded – July 27 and Tuesday (yes, the same day that SPX bounced back from that level and then closed at a new all-time high). Since it has been doubly tested, that makes it a viable support level. There is resistance at 4430, the all-time intraday high.\nYou can see from the accompanying chart that SPX has been in a rather right trading since July 23 – between 4370 and 4430.\nA breakout from that range will be significant. If it were to break to the downside, that would be a negative for the SPX chart. Below there, a major support area exists at 4233, and it would likely be tested quickly after a break below 4370.\nLAWRENCE MCMILLAN\nSo the SPX chart is still positive, but there is a McMillan Volatility Band (MVB) sell signal in place (green “S” on chart).\nNow let’s look at some of the indicators that encompass a larger number of stocks. You will see that they are far less positive. First are the equity-only put-call ratios. These have been rising for a month, meaning they have been on sell signals during that time. Put volume has been heavy, relative to call volume, and that is what is causing these ratios to rise. It looks like there is a slight “wiggle” in the standard ratio’s chart, but the computer analysis programs say that is not significant.\nThe larger picture here is that as many stocks have been declining, option traders have been buying puts on those stocks, forcing these equity-only put-call ratios higher. As long as the ratios are rising, they will remain on sell signals.\nLAWRENCE MCMILLAN\nLAWRENCE MCMILLAN\nMarket breadth (advances minus declines) has been woeful since mid-June. That is, most stocks are going down, even though SPX is going up. In fact, what is driving this market is a handful of large-cap NASDAQ stocks (the FAANG stocks plus Microsoft are the strongest stocks).\nThings have improved a little in the last couple of weeks, and so our breadth oscillators are on buy signals, but they are still in negative territory. Normally when SPX is making new all-time highs, the breadth oscillators are will into positive territory, reflecting a strong overall market. But that is not the case now.\nMoreover, cumulative breadth (the running total of daily advances minus declines) has not made a new all-time high since June 11. SPX has made a new closing or intraday high on 19 separate trading days since then. That is a huge, negative market divergence, but it alone is not a sell signal. Rather, it is a strong warning to be alert – to avoid complacency.\nNew 52-week highs on the NYSE continue to lead new 52-week lows. Recently, there have been some isolated days where new lows exceeded new highs using NASDAQ or “stocks only” data, but not when using NYSE data. That means this indicator remains bullish for stocks. It would turn negative if NYSE new lows exceeded new highs and were sufficiently large, but that has not happened.\nThere is a realized volatility sell signal in place, as well. That occurred when the S&P’s 20-day historical volatility first fell below 8% (in mid-June) and then later rose above 11% (in late July).\nImplied volatility, on the other hand, remains in a bullish state, as far the stock market is concerned. The VIX “spike peak” buy signal of July 20 remains in place. Moreover, the VIX 200-day moving average is still declining and is well above the price of VIX.There has been a slow “creep” upward by VIX, from 15 to 19 over the last month, but that doesn’t appear to be a significant change of trend.\nLAWRENCE MCMILLAN\nFinally, the construct of volatility derivatives remains positive for the stock market. The VIX futures are trading at a premium to VIX, and the term structures of those VIX futures and the CBOE Volatility Indices slope upward.\nThe SPX chart is still positive. That is the most important fact. Until that changes, a long “core” position is recommended. Around that, one can trade confirmed signals – both buy and sell. A violation of the 4370 area by SPX would change things for the negative, but a breakout to new all-time highs above 4430 would reinforce the bullish case.\nNew recommendation: Conditional SPX sell signal\nBased on the above article, we are going to lay out some parameters regarding taking a bearish position should SPX support be broken:\nIF SPX trades below 4370 and stays there for an hour,\nTHEN buy 1 SPY Aug (27th) at-the-money put\n            And sell 1 SPY Aug (27th) put with a striking price 25 points lower.\nIn addition,\nIF SPX closes below 4370,\nTHEN buy another bear spread:\n            Buy 1 (more) SPY Aug (27th) at-the-money put\n            And sell 1 (more) SPY Aug (27th) put with a striking price 25 points lower.\nNote that it is possible that the second condition (close below 4370) could occur without the first condition being satisfied (if SPX breaks below 4370 late in a trading day). If that is the case, then buy 2 of these spreads on the close.\nFinally, if these spreads are established, stop yourself out of all of these bear spreads on an SPX close above 4430.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1904,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890783667,"gmtCreate":1628134212659,"gmtModify":1633753246776,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890783667","repostId":"2157483930","repostType":4,"isVote":1,"tweetType":1,"viewCount":1762,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802629638,"gmtCreate":1627777899124,"gmtModify":1633756551375,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"True????","listText":"True????","text":"True????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/802629638","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohu8.com/m/news/1147779023?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键经验教训。</b>投资是一场艰苦的游戏。这就是为什么如此多的共同基金落后于其指数。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你找到一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>专注于美国世纪的动态增长基金符合这一要求。据晨星公司称，这只价值28亿美元的基金在过去三年和五年的年化收益比罗素1000增长指数高出6个百分点以上。五年来，它的年化表现比高增长类别高出8.6个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由Prabha Ram共同管理，我最近采访了他。拉姆在印度长大，来到美国，在缅因大学担任助教，并在那里获得了计算机科学硕士学位。她后来在宾夕法尼亚大学沃顿商学院获得了MBA学位。Ram和其他三位投资组合经理自2016年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的示例。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1.拥有能在大市场“落地扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司仍然在纸上做大部分业务。Bill.comBill想要改变这一点。该公司由首席执行官RenéLacerte创立，他在20世纪90年代末创办了在线薪资公司PayCycle，该公司被Intuit收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com帮助小公司实现应付账款和应收账款的数字化。但这仅仅是个开始。一旦进入公司内部，Bill.com就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com“登陆并扩展”客户，但它也利用他们的商业伙伴来创建潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“每个供应商都是网络成员，即使它不是Bill.com客户，”Ram说。这个网络大约有250万成员。Bill.com还从其合作伙伴那里获得了潜在客户，包括美国银行BAC、摩根大通JP和美国运通XP。第一季度销售额增长45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们往往表现出色。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2.寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>Ram的投资组合中包含明显的创新者，包括TeslaTSLA、Amazon.comAMZN和AlphabetGOOGL，这是她的前三名。让我们超越技术，看看啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在20世纪80年代，波士顿啤酒创始人吉姆·科赫(Jim Koch)从塞缪尔·亚当斯(Samuel Adams)开始推出成功的“精酿”啤酒，开始从啤酒巨头安海斯-布希(Anheuser-Busch InbevBUD)和喜力海尼(Heinekenheiny)手中夺取份额。科赫帮助发明了精酿啤酒类别，基本上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味生产更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在2015年至2017年期间因啤酒销量整体持平而陷入停滞。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们被这家公司吸引是因为它的创新历史，”拉姆在谈到她的基金2016年第二季度的早期头寸时说道。“由于啤酒市场趋于平缓，该股表现不佳，但他们推出了真正的硬苏打水。真正的苏打水比我们预期的更成功。它创造了一个新的类别。”</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒对创新的热情帮助拉姆的基金得以保留。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去表现出创新能力的人领导的公司。创新型管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们押注他们会再次成功。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。由于众多竞争对手进入烈性苹果酒领域，波士顿啤酒股价7月23日下跌20%。由于该公司提高了广告成本以对抗竞争，销售额增长了33%，但净利润下降了1.6%。由于预计销售增长放缓，该公司大幅下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但还不要排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>波士顿啤酒的科赫表示：“我们最近宣布计划与Beam Suntory合作开发新的创新饮料，计划于2022年初推出。”Beam Suntory销售Jim Beam威士忌和其他品牌的烈酒。“我们相信，随着饮酒者偏好的变化，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3.寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不真正关心当地的瑜伽教练是否可以接受信用卡付款。SquareSQ认为这是一个机会。于是在2009年推出了卡支付设备业务。从那时起，它通过接纳更大的客户并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而实现了增长。第一季度基于交易的收入增长了27%，订阅和服务收入飙升了88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一家公司创造商业利基的一个很好的例子。但它也是一家“土地和扩张”的公司，因为它通过向客户提供新服务来发展。这两种品质都有助于公司保持拉姆喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4.买入快速成长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一种方法是识别开发将改变整个行业的产品的公司。Ram认为Alnylam PharmaceuticalsALNY的情况就是如此。它正在开发基于RNA干扰（RNAi）技术的新疗法。在体内，信使RNA（mRNA）根据来自RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种获得批准的基于RNAi的药物，用于治疗罕见的遗传性疾病。该公司还有十几种其他疗法处于临床研究中，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“这是一个全新的治疗领域，”拉姆说。“它是一个可以治疗多种疾病的产品平台。”</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>上述所有名字都是拉姆基金中的大量头寸，这告诉我拉姆和她的团队认为他们有更大的上涨空间。不过，如果您购买其中任何一款，请记住您必须在多年的时间范围内购买。拉姆的基金就是这么做的。它的年投资组合周转率较低，为27%。有长远的眼光很重要，因为看涨期权股市或股票的短期走势非常困难，你需要给公司发展的时间。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键经验教训。</b>投资是一场艰苦的游戏。这就是为什么如此多的共同基金落后于其指数。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你找到一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>专注于美国世纪的动态增长基金符合这一要求。据晨星公司称，这只价值28亿美元的基金在过去三年和五年的年化收益比罗素1000增长指数高出6个百分点以上。五年来，它的年化表现比高增长类别高出8.6个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由Prabha Ram共同管理，我最近采访了他。拉姆在印度长大，来到美国，在缅因大学担任助教，并在那里获得了计算机科学硕士学位。她后来在宾夕法尼亚大学沃顿商学院获得了MBA学位。Ram和其他三位投资组合经理自2016年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的示例。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1.拥有能在大市场“落地扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司仍然在纸上做大部分业务。Bill.comBill想要改变这一点。该公司由首席执行官RenéLacerte创立，他在20世纪90年代末创办了在线薪资公司PayCycle，该公司被Intuit收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com帮助小公司实现应付账款和应收账款的数字化。但这仅仅是个开始。一旦进入公司内部，Bill.com就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com“登陆并扩展”客户，但它也利用他们的商业伙伴来创建潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“每个供应商都是网络成员，即使它不是Bill.com客户，”Ram说。这个网络大约有250万成员。Bill.com还从其合作伙伴那里获得了潜在客户，包括美国银行BAC、摩根大通JP和美国运通XP。第一季度销售额增长45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们往往表现出色。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2.寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>Ram的投资组合中包含明显的创新者，包括TeslaTSLA、Amazon.comAMZN和AlphabetGOOGL，这是她的前三名。让我们超越技术，看看啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在20世纪80年代，波士顿啤酒创始人吉姆·科赫(Jim Koch)从塞缪尔·亚当斯(Samuel Adams)开始推出成功的“精酿”啤酒，开始从啤酒巨头安海斯-布希(Anheuser-Busch InbevBUD)和喜力海尼(Heinekenheiny)手中夺取份额。科赫帮助发明了精酿啤酒类别，基本上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味生产更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在2015年至2017年期间因啤酒销量整体持平而陷入停滞。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们被这家公司吸引是因为它的创新历史，”拉姆在谈到她的基金2016年第二季度的早期头寸时说道。“由于啤酒市场趋于平缓，该股表现不佳，但他们推出了真正的硬苏打水。真正的苏打水比我们预期的更成功。它创造了一个新的类别。”</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒对创新的热情帮助拉姆的基金得以保留。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去表现出创新能力的人领导的公司。创新型管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们押注他们会再次成功。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。由于众多竞争对手进入烈性苹果酒领域，波士顿啤酒股价7月23日下跌20%。由于该公司提高了广告成本以对抗竞争，销售额增长了33%，但净利润下降了1.6%。由于预计销售增长放缓，该公司大幅下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但还不要排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>波士顿啤酒的科赫表示：“我们最近宣布计划与Beam Suntory合作开发新的创新饮料，计划于2022年初推出。”Beam Suntory销售Jim Beam威士忌和其他品牌的烈酒。“我们相信，随着饮酒者偏好的变化，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3.寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不真正关心当地的瑜伽教练是否可以接受信用卡付款。SquareSQ认为这是一个机会。于是在2009年推出了卡支付设备业务。从那时起，它通过接纳更大的客户并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而实现了增长。第一季度基于交易的收入增长了27%，订阅和服务收入飙升了88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一家公司创造商业利基的一个很好的例子。但它也是一家“土地和扩张”的公司，因为它通过向客户提供新服务来发展。这两种品质都有助于公司保持拉姆喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4.买入快速成长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一种方法是识别开发将改变整个行业的产品的公司。Ram认为Alnylam PharmaceuticalsALNY的情况就是如此。它正在开发基于RNA干扰（RNAi）技术的新疗法。在体内，信使RNA（mRNA）根据来自RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种获得批准的基于RNAi的药物，用于治疗罕见的遗传性疾病。该公司还有十几种其他疗法处于临床研究中，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“这是一个全新的治疗领域，”拉姆说。“它是一个可以治疗多种疾病的产品平台。”</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>上述所有名字都是拉姆基金中的大量头寸，这告诉我拉姆和她的团队认为他们有更大的上涨空间。不过，如果您购买其中任何一款，请记住您必须在多年的时间范围内购买。拉姆的基金就是这么做的。它的年投资组合周转率较低，为27%。有长远的眼光很重要，因为看涨期权股市或股票的短期走势非常困难，你需要给公司发展的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1931,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171842644,"gmtCreate":1626739350488,"gmtModify":1633924574934,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Slow","listText":"Slow","text":"Slow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/171842644","repostId":"2152652683","repostType":4,"isVote":1,"tweetType":1,"viewCount":724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144488981,"gmtCreate":1626310236843,"gmtModify":1633928032840,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144488981","repostId":"2151548988","repostType":4,"isVote":1,"tweetType":1,"viewCount":803,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142511548,"gmtCreate":1626160662384,"gmtModify":1633929522742,"author":{"id":"3577603745137284","authorId":"3577603745137284","name":"Kin23","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577603745137284","idStr":"3577603745137284"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/142511548","repostId":"1101566017","repostType":4,"isVote":1,"tweetType":1,"viewCount":651,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}