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Deb87

Deb87

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2021-03-17

Longing BAC

5 sturdy value stocks to protect your portfolio from rising interest rates<blockquote>5只稳健的价值股票可保护您的投资组合免受利率上升的影响</blockquote>

2021-06-10

[笑哭] [笑哭] [笑哭] [笑哭] [笑哭]

抱歉，原内容已删除

2021-04-06

Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.

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

2021-03-29

Time to buy some Bank stocks! Pls like or comment 😃

抱歉，原内容已删除

2021-03-15

I think GME will not stop Until it reaches 1500...

GameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.<blockquote>游戏驿站、AMC和喜满客的股价遭受重创。前面是什么。</blockquote>

2021-05-31

[捂脸] no words

抱歉，原内容已删除

2021-04-16

Oh wow! If it's true, then I can't wait! More cheap stocks to come

抱歉，原内容已删除

2021-06-16

Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.

抱歉，原内容已删除

2021-06-09

More to come...

抱歉，原内容已删除

2021-04-23

Because of GME?! Hahaha

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去老虎APP查看更多动态

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news all around","listText":"Good news all around","text":"Good news all around","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144896388","repostId":"2151158165","repostType":2,"repost":{"id":"2151158165","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626259561,"share":"https://www.laohu8.com/m/news/2151158165?lang=zh_CN&edition=full","pubTime":"2021-07-14 18:46","market":"us","language":"en","title":"Bank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate<blockquote>美国银行第二季度EPS$1.03超出预期$0.77，销售额$21.50 B低于预期$21.83 B</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2151158165","media":"Benzinga","summary":"-Dow Jones","content":"<p>Bank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate.</p><p><blockquote>美国银行第二季度EPS$1.03超出预期$0.77，销售额$21.50 B低于预期$21.83 B。</blockquote></p><p> Bank of America Corp reported a jump in second-quarter profit on Wednesday as it released reserves it had set aside last year to cover potential loan losses tied to the pandemic.</p><p><blockquote>美国银行周三公布第二季度利润大幅增长，因为该公司释放了去年为弥补与疫情相关的潜在贷款损失而预留的准备金。</blockquote></p><p> The bank’s net income applicable to common shareholders rose to $8.96 billion, or $1.03 per share, from $3.28 billion, or 37 cents per share, a year earlier.</p><p><blockquote>该银行适用于普通股股东的净利润从一年前的32.8亿美元（即每股37美分）升至89.6亿美元（即每股1.03美元）。</blockquote></p><p> Analysts on average had expected a profit of 77 cents per share, according to IBES estimate from Refinitiv.</p><p><blockquote>根据Refinitiv的IBES估计，分析师平均预期每股利润为77美分。</blockquote></p><p> The Federal Reserve last year brought in ultra-low interest rates to allow for a more rapid recovery from the pandemic-induced recession. Such low rates eat into the income of lenders like Bank of America, which make profit from the difference between what they earn on loans and pay out on deposits.</p><p><blockquote>美联储去年实行了超低利率，以更快地从大流行引发的衰退中复苏。如此低的利率侵蚀了美国银行等银行的收入，这些银行从贷款收入和存款支出之间的差额中获利。</blockquote></p><p> Strong momentum in job growth and vaccinations against COVID-19 have underpinned a recovery in the broader economy, However, Wall Street’s biggest banks are still expected to feel the pinch from low rates.</p><p><blockquote>强劲的就业增长势头和针对COVID-19的疫苗接种支撑了整体经济的复苏，然而，华尔街最大的银行预计仍将感受到低利率带来的压力。</blockquote></p><p> Executives at JPMorgan Chase &amp; Co warned on Tuesday that the sunny outlook for the U.S. economy would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.</p><p><blockquote>摩根大通高管周二警告称，由于低利率、贷款需求疲软和交易放缓，美国经济的光明前景不会在短期内带来重磅收入。</blockquote></p><p> Bank of America, the second-largest U.S. bank by assets, released $2.2 billion of reserves in the quarter, reflecting the improved economic outlook. The release, however, was lower than the $2.7 billion it had set aside in the previous quarter.</p><p><blockquote>按资产计算，美国第二大银行美国银行在本季度释放了22亿美元的准备金，反映了经济前景的改善。然而，此次释放的资金低于上一季度预留的27亿美元。</blockquote></p><p> Overall revenue, net of interest expense, dropped 4% to $21.5 billion.</p><p><blockquote>扣除利息支出后的总收入下降4%至215亿美元。</blockquote></p><p> Bank&nbsp;of&nbsp;America&nbsp;shares&nbsp;fell&nbsp;2%&nbsp;in&nbsp;premarket&nbsp;trading.</p><p><blockquote>美国银行股价在盘前交易中下跌2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/afdc90bc748a5b7b5f8f4aa42de529dc\" tg-width=\"1280\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate<blockquote>美国银行第二季度EPS$1.03超出预期$0.77，销售额$21.50 B低于预期$21.83 B</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\">\nBank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate<blockquote>美国银行第二季度EPS$1.03超出预期$0.77，销售额$21.50 B低于预期$21.83 B</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-07-14 18:46</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Bank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate.</p><p><blockquote>美国银行第二季度EPS$1.03超出预期$0.77，销售额$21.50 B低于预期$21.83 B。</blockquote></p><p> Bank of America Corp reported a jump in second-quarter profit on Wednesday as it released reserves it had set aside last year to cover potential loan losses tied to the pandemic.</p><p><blockquote>美国银行周三公布第二季度利润大幅增长，因为该公司释放了去年为弥补与疫情相关的潜在贷款损失而预留的准备金。</blockquote></p><p> The bank’s net income applicable to common shareholders rose to $8.96 billion, or $1.03 per share, from $3.28 billion, or 37 cents per share, a year earlier.</p><p><blockquote>该银行适用于普通股股东的净利润从一年前的32.8亿美元（即每股37美分）升至89.6亿美元（即每股1.03美元）。</blockquote></p><p> Analysts on average had expected a profit of 77 cents per share, according to IBES estimate from Refinitiv.</p><p><blockquote>根据Refinitiv的IBES估计，分析师平均预期每股利润为77美分。</blockquote></p><p> The Federal Reserve last year brought in ultra-low interest rates to allow for a more rapid recovery from the pandemic-induced recession. Such low rates eat into the income of lenders like Bank of America, which make profit from the difference between what they earn on loans and pay out on deposits.</p><p><blockquote>美联储去年实行了超低利率，以更快地从大流行引发的衰退中复苏。如此低的利率侵蚀了美国银行等银行的收入，这些银行从贷款收入和存款支出之间的差额中获利。</blockquote></p><p> Strong momentum in job growth and vaccinations against COVID-19 have underpinned a recovery in the broader economy, However, Wall Street’s biggest banks are still expected to feel the pinch from low rates.</p><p><blockquote>强劲的就业增长势头和针对COVID-19的疫苗接种支撑了整体经济的复苏，然而，华尔街最大的银行预计仍将感受到低利率带来的压力。</blockquote></p><p> Executives at JPMorgan Chase &amp; Co warned on Tuesday that the sunny outlook for the U.S. economy would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.</p><p><blockquote>摩根大通高管周二警告称，由于低利率、贷款需求疲软和交易放缓，美国经济的光明前景不会在短期内带来重磅收入。</blockquote></p><p> Bank of America, the second-largest U.S. bank by assets, released $2.2 billion of reserves in the quarter, reflecting the improved economic outlook. The release, however, was lower than the $2.7 billion it had set aside in the previous quarter.</p><p><blockquote>按资产计算，美国第二大银行美国银行在本季度释放了22亿美元的准备金，反映了经济前景的改善。然而，此次释放的资金低于上一季度预留的27亿美元。</blockquote></p><p> Overall revenue, net of interest expense, dropped 4% to $21.5 billion.</p><p><blockquote>扣除利息支出后的总收入下降4%至215亿美元。</blockquote></p><p> Bank&nbsp;of&nbsp;America&nbsp;shares&nbsp;fell&nbsp;2%&nbsp;in&nbsp;premarket&nbsp;trading.</p><p><blockquote>美国银行股价在盘前交易中下跌2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/afdc90bc748a5b7b5f8f4aa42de529dc\" tg-width=\"1280\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","QTWO":"Q2 Holdings Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151158165","content_text":"Bank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate.\nBank of America Corp reported a jump in second-quarter profit on Wednesday as it released reserves it had set aside last year to cover potential loan losses tied to the pandemic.\nThe bank’s net income applicable to common shareholders rose to $8.96 billion, or $1.03 per share, from $3.28 billion, or 37 cents per share, a year earlier.\nAnalysts on average had expected a profit of 77 cents per share, according to IBES estimate from Refinitiv.\nThe Federal Reserve last year brought in ultra-low interest rates to allow for a more rapid recovery from the pandemic-induced recession. Such low rates eat into the income of lenders like Bank of America, which make profit from the difference between what they earn on loans and pay out on deposits.\nStrong momentum in job growth and vaccinations against COVID-19 have underpinned a recovery in the broader economy, However, Wall Street’s biggest banks are still expected to feel the pinch from low rates.\nExecutives at JPMorgan Chase & Co warned on Tuesday that the sunny outlook for the U.S. economy would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.\nBank of America, the second-largest U.S. bank by assets, released $2.2 billion of reserves in the quarter, reflecting the improved economic outlook. The release, however, was lower than the $2.7 billion it had set aside in the previous quarter.\nOverall revenue, net of interest expense, dropped 4% to $21.5 billion.\nBank of America shares fell 2% in premarket trading.","news_type":1,"symbols_score_info":{"BAC":0.9,"QTWO":0.9}},"isVote":1,"tweetType":1,"viewCount":1847,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169376846,"gmtCreate":1623819188885,"gmtModify":1631891827597,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Dollar-cost averaging only reduces&nbsp;the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","listText":"Dollar-cost averaging only reduces&nbsp;the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","text":"Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169376846","repostId":"1182315358","repostType":4,"isVote":1,"tweetType":1,"viewCount":1140,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169371531,"gmtCreate":1623819119623,"gmtModify":1631891827607,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost&nbsp;averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...&nbsp;","listText":"Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost&nbsp;averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...&nbsp;","text":"Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169371531","repostId":"1182315358","repostType":4,"isVote":1,"tweetType":1,"viewCount":2482,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183921899,"gmtCreate":1623301649411,"gmtModify":1631891827620,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Can I call bull shit? Hahah[笑哭]&nbsp;","listText":"Can I call bull shit? Hahah[笑哭]&nbsp;","text":"Can I call bull shit? Hahah[笑哭]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183921899","repostId":"2142246093","repostType":4,"isVote":1,"tweetType":1,"viewCount":2429,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":183923469,"gmtCreate":1623301611751,"gmtModify":1631891827632,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...&nbsp;","listText":"All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...&nbsp;","text":"All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183923469","repostId":"1198956414","repostType":4,"repost":{"id":"1198956414","kind":"news","pubTimestamp":1623296182,"share":"https://www.laohu8.com/m/news/1198956414?lang=zh_CN&edition=full","pubTime":"2021-06-10 11:36","market":"us","language":"en","title":"3 Upcoming Policy Shifts That Could Impact The Stock Market<blockquote>即将发生的3项可能影响股市的政策转变</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1198956414","media":"benzinga","summary":"The S&P 500’s bullish momentum in the second half of 2020 has continued in the first half of 2021. T","content":"<p><div> The S&P 500’s bullish momentum in the second half of 2020 has continued in the first half of 2021. The SPDR S&P 500 ETF is up another 13.2% year to date, driven in large part by aggressive stimulus ...</p><p><blockquote><div>标普500在2020年下半年的看涨势头在2021年上半年得以延续。SPDR标普500 ETF今年迄今又上涨了13.2%，这在很大程度上是由积极的刺激措施推动的...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/06/21496059/3-upcoming-policy-shifts-that-could-impact-the-stock-market\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/06/21496059/3-upcoming-policy-shifts-that-could-impact-the-stock-market\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Upcoming Policy Shifts That Could Impact The Stock Market<blockquote>即将发生的3项可能影响股市的政策转变</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\">\n3 Upcoming Policy Shifts That Could Impact The Stock Market<blockquote>即将发生的3项可能影响股市的政策转变</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-06-10 11:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The S&P 500’s bullish momentum in the second half of 2020 has continued in the first half of 2021. The SPDR S&P 500 ETF is up another 13.2% year to date, driven in large part by aggressive stimulus ...</p><p><blockquote><div>标普500在2020年下半年的看涨势头在2021年上半年得以延续。SPDR标普500 ETF今年迄今又上涨了13.2%，这在很大程度上是由积极的刺激措施推动的...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/06/21496059/3-upcoming-policy-shifts-that-could-impact-the-stock-market\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/06/21496059/3-upcoming-policy-shifts-that-could-impact-the-stock-market\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/06/21496059/3-upcoming-policy-shifts-that-could-impact-the-stock-market\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.benzinga.com/analyst-ratings/analyst-color/21/06/21496059/3-upcoming-policy-shifts-that-could-impact-the-stock-market","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198956414","content_text":"The S&P 500’s bullish momentum in the second half of 2020 has continued in the first half of 2021. The SPDR S&P 500 ETF is up another 13.2% year to date, driven in large part by aggressive stimulus policies out of Washington.\nLooking ahead, LPL Research Asset Allocation Strategist Barry Gilbert said policy changes could continue to drive the stock market in coming quarters, but they may flip from a tailwind to headwind.\nIn a new report this week, Gilbert highlighted three potential federal policy changes investors should be monitoring throughout the remainder of 2021.\n1. Stimulus:First, Gilbert said an end to the approximately $5 trillion in direct COVID-19 stimulus spending will mark a clear change for markets moving forward. However, he said investors shouldn’t necessarily be concerned about the market being weaned off of stimulus unless organic economic growth starts to disappoint.\nLPL is projecting above-average U.S. economic growth through at least 2022, which should be more than enough to make up for a lack of government stimulus.\n2. Taxes:Second, Gilbert said one of the biggest risks to the bull market is corporate tax hikes.\nIn December 2017, former President Donald Trump cut the top U.S. corporate tax rate from 35% to 21%, marking the first time since the 1940s the top corporate tax rate had dropped below 30%.President Joe Biden has proposed raising that rate back up to 28%, but Gilbert expects the final rate after negotiations with Republicans will be closer to 25%.\n“While we don’t think higher rates would be retroactive, they could take away some of the momentum from recent upside surprises in earnings growth we’ve seen so far in 2021 and contribute to a choppier market,” Gilbert said.\nBiden has also proposed raising the top income tax rate from 37% to 39.6% and raising the capital gains tax rate on Americans earning more than $1 million per year from a maximum of 23.8% to 43.4%.\n3. Midterms:Finally, Gilbert said long-term investors should keep an eye on how the 2022 midterm election season plays out. While it's still very early at this point, history suggests the party that controls the White House tends to have a difficult time holding onto the House in the midterm elections, and Gilbert said the stock market has historically performed very well under a mixed government.\nBenzinga’s Take:Corporate tax hikes are seemingly the most significant potential policy overhang for the stock market. However, LPL’s prediction of around a 25% corporate tax rate seems very manageable considering it still represents a net 10% cut from pre-2018 levels.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2721,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183967887,"gmtCreate":1623301370649,"gmtModify":1631891827646,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Funny how the news doesn't share the predictability rate","listText":"Funny how the news doesn't share the predictability rate","text":"Funny how the news doesn't share the predictability rate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183967887","repostId":"2142210925","repostType":4,"isVote":1,"tweetType":1,"viewCount":2960,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183984221,"gmtCreate":1623300600863,"gmtModify":1631891827659,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;","listText":"[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;","text":"[笑哭] [笑哭] [笑哭] [笑哭] [笑哭]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183984221","repostId":"2142210925","repostType":4,"isVote":1,"tweetType":1,"viewCount":2041,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":180474119,"gmtCreate":1623224450831,"gmtModify":1631891827667,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"More to come...","listText":"More to come...","text":"More to come...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180474119","repostId":"1176918592","repostType":4,"isVote":1,"tweetType":1,"viewCount":1731,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110653701,"gmtCreate":1622451427203,"gmtModify":1631891827676,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"[捂脸]&nbsp;no words","listText":"[捂脸]&nbsp;no words","text":"[捂脸] no words","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/110653701","repostId":"1198461252","repostType":4,"isVote":1,"tweetType":1,"viewCount":1882,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":197046099,"gmtCreate":1621413896111,"gmtModify":1631891827691,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Go gold or go home","listText":"Go gold or go home","text":"Go gold or go home","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197046099","repostId":"2136822915","repostType":4,"repost":{"id":"2136822915","kind":"highlight","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":1621411736,"share":"https://www.laohu8.com/m/news/2136822915?lang=zh_CN&edition=full","pubTime":"2021-05-19 16:08","market":"us","language":"en","title":"Crypto stocks tumbled in premarket trading<blockquote>加密货币股票在盘前交易中暴跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2136822915","media":"Tiger Newspress","summary":"Crypto stocks tumbled in premarket trading on Bitcoin sliding below $40,000 after China's fresh cryp","content":"<p>Crypto stocks tumbled in premarket trading&nbsp;on&nbsp;Bitcoin sliding below $40,000 after China's fresh crypto curbs.</p><p><blockquote>在中国实施新的加密货币限制后，比特币加密货币股票在盘前交易中暴跌，跌破40,000美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/270e4af4516a319658e0395134a1c039\" tg-width=\"369\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.</p><p><blockquote>在中国对涉及加密货币的交易实施新的限制后，比特币周三跌破40,000美元大关，触及三个半月低点，并拖累了其他数字货币。</blockquote></p><p>Bitcoin , the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk but the news from China sent it as low as $38,514, for a 9% fall.</p><p><blockquote>最大、最知名的加密货币比特币已经受到特斯拉老板Elon Musk一系列推文的压力，但来自中国的消息使其跌至38,514美元，下跌9%。</blockquote></p><p>The coin is now down 40% from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.</p><p><blockquote>该代币目前较4月14日创下的64,895美元的历史高点下跌了40%。它也将迎来自2018年11月以来的首次月度下跌。</blockquote></p><p>Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko.</p><p><blockquote>根据市场跟踪机构Coingecko的数据，比特币的举措也打击了其他加密资产，与以太币区块链网络相关的以太币下跌15%，至2,875.36美元，而基于模因的狗狗币下跌18%。</blockquote></p><p>Frankfurt-listed shares in crypto exchange Coinbase slumped 6%, having already dipped below their direct listing price of $250 earlier in the week.</p><p><blockquote>在法兰克福上市的加密货币交易所Coinbase股价下跌6%，本周早些时候已跌破250美元的直接上市价格。</blockquote></p><p>The crypto declines were sparked last week by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin.</p><p><blockquote>上周，马斯克逆转特斯拉接受比特币作为付款方式，引发了加密货币的下跌。他随后的推文进一步引发了人们对这家汽车制造商是否已抛售该代币的困惑。</blockquote></p><p>Selling was exacerbated by China's announcement banning financial institutions and payment companies from providing services related to cryptocurrency transactions. It also warned investors against speculative crypto trading.</p><p><blockquote>中国宣布禁止金融机构和支付公司提供与加密货币交易相关的服务，加剧了抛售。它还警告投资者不要进行投机性的加密货币交易。</blockquote></p><p>Cryptowatchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier which could set the stage for more selling.</p><p><blockquote>Cryptowatchers预测未来还会有更多损失，并指出跌破40,000美元代表着一个关键技术障碍的突破，这可能为更多抛售创造条件。</blockquote></p><p>More importantly, investors may be shifting from bitcoin back to gold, analysts at JPMorgan said, citing positioning data compiled on basis of open interest in CME bitcoin futures contracts.</p><p><blockquote>摩根大通分析师表示，更重要的是，投资者可能会从比特币转向黄金，并援引根据芝商所比特币期货合约未平仓合约编制的持仓数据。</blockquote></p><p>This shows \"the steepest and more sustained liquidation\" in bitcoin futures since last October, they told clients, adding: \"the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors.\"</p><p><blockquote>他们告诉客户，这表明比特币期货出现了自去年10月以来“最陡峭、更持续的清算”，并补充道：“比特币流动情况继续恶化，表明机构投资者将继续紧缩。”</blockquote></p><p>The selloff in crypto assets precisely at a time when inflation fears are in the ascendancy dashes any suggestion of the asset class being an inflation hedge.</p><p><blockquote>正是在通胀担忧盛行之际，加密资产遭到抛售，粉碎了该资产类别是通胀对冲的任何说法。</blockquote></p><p>Instead, more traditional hedges have been gaining ground, with gold up almost 6% so far this month.</p><p><blockquote>相反，更传统的对冲措施正在取得进展，本月迄今为止，金价上涨了近6%。</blockquote></p><p>The recent selloff in bitcoin and other digital currencies has taken market capitalisation of all cryptocurrencies back under $2 trillion, down from the recent $2.5 trillion record.</p><p><blockquote>最近比特币和其他数字货币的抛售使所有加密货币的市值降至2万亿美元以下，低于最近2.5万亿美元的纪录。</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>Crypto stocks tumbled in premarket trading<blockquote>加密货币股票在盘前交易中暴跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto stocks tumbled in premarket trading<blockquote>加密货币股票在盘前交易中暴跌</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\">2021-05-19 16:08</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Crypto stocks tumbled in premarket trading&nbsp;on&nbsp;Bitcoin sliding below $40,000 after China's fresh crypto curbs.</p><p><blockquote>在中国实施新的加密货币限制后，比特币加密货币股票在盘前交易中暴跌，跌破40,000美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/270e4af4516a319658e0395134a1c039\" tg-width=\"369\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.</p><p><blockquote>在中国对涉及加密货币的交易实施新的限制后，比特币周三跌破40,000美元大关，触及三个半月低点，并拖累了其他数字货币。</blockquote></p><p>Bitcoin , the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk but the news from China sent it as low as $38,514, for a 9% fall.</p><p><blockquote>最大、最知名的加密货币比特币已经受到特斯拉老板Elon Musk一系列推文的压力，但来自中国的消息使其跌至38,514美元，下跌9%。</blockquote></p><p>The coin is now down 40% from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.</p><p><blockquote>该代币目前较4月14日创下的64,895美元的历史高点下跌了40%。它也将迎来自2018年11月以来的首次月度下跌。</blockquote></p><p>Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko.</p><p><blockquote>根据市场跟踪机构Coingecko的数据，比特币的举措也打击了其他加密资产，与以太币区块链网络相关的以太币下跌15%，至2,875.36美元，而基于模因的狗狗币下跌18%。</blockquote></p><p>Frankfurt-listed shares in crypto exchange Coinbase slumped 6%, having already dipped below their direct listing price of $250 earlier in the week.</p><p><blockquote>在法兰克福上市的加密货币交易所Coinbase股价下跌6%，本周早些时候已跌破250美元的直接上市价格。</blockquote></p><p>The crypto declines were sparked last week by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin.</p><p><blockquote>上周，马斯克逆转特斯拉接受比特币作为付款方式，引发了加密货币的下跌。他随后的推文进一步引发了人们对这家汽车制造商是否已抛售该代币的困惑。</blockquote></p><p>Selling was exacerbated by China's announcement banning financial institutions and payment companies from providing services related to cryptocurrency transactions. It also warned investors against speculative crypto trading.</p><p><blockquote>中国宣布禁止金融机构和支付公司提供与加密货币交易相关的服务，加剧了抛售。它还警告投资者不要进行投机性的加密货币交易。</blockquote></p><p>Cryptowatchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier which could set the stage for more selling.</p><p><blockquote>Cryptowatchers预测未来还会有更多损失，并指出跌破40,000美元代表着一个关键技术障碍的突破，这可能为更多抛售创造条件。</blockquote></p><p>More importantly, investors may be shifting from bitcoin back to gold, analysts at JPMorgan said, citing positioning data compiled on basis of open interest in CME bitcoin futures contracts.</p><p><blockquote>摩根大通分析师表示，更重要的是，投资者可能会从比特币转向黄金，并援引根据芝商所比特币期货合约未平仓合约编制的持仓数据。</blockquote></p><p>This shows \"the steepest and more sustained liquidation\" in bitcoin futures since last October, they told clients, adding: \"the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors.\"</p><p><blockquote>他们告诉客户，这表明比特币期货出现了自去年10月以来“最陡峭、更持续的清算”，并补充道：“比特币流动情况继续恶化，表明机构投资者将继续紧缩。”</blockquote></p><p>The selloff in crypto assets precisely at a time when inflation fears are in the ascendancy dashes any suggestion of the asset class being an inflation hedge.</p><p><blockquote>正是在通胀担忧盛行之际，加密资产遭到抛售，粉碎了该资产类别是通胀对冲的任何说法。</blockquote></p><p>Instead, more traditional hedges have been gaining ground, with gold up almost 6% so far this month.</p><p><blockquote>相反，更传统的对冲措施正在取得进展，本月迄今为止，金价上涨了近6%。</blockquote></p><p>The recent selloff in bitcoin and other digital currencies has taken market capitalisation of all cryptocurrencies back under $2 trillion, down from the recent $2.5 trillion record.</p><p><blockquote>最近比特币和其他数字货币的抛售使所有加密货币的市值降至2万亿美元以下，低于最近2.5万亿美元的纪录。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EBON":"亿邦国际","MARA":"MARA Holdings","PYPL":"PayPal","SOS":"SOS Limited","RIOT":"Riot Platforms"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136822915","content_text":"Crypto stocks tumbled in premarket trading on Bitcoin sliding below $40,000 after China's fresh crypto curbs.Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.Bitcoin , the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk but the news from China sent it as low as $38,514, for a 9% fall.The coin is now down 40% from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko.Frankfurt-listed shares in crypto exchange Coinbase slumped 6%, having already dipped below their direct listing price of $250 earlier in the week.The crypto declines were sparked last week by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin.Selling was exacerbated by China's announcement banning financial institutions and payment companies from providing services related to cryptocurrency transactions. It also warned investors against speculative crypto trading.Cryptowatchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier which could set the stage for more selling.More importantly, investors may be shifting from bitcoin back to gold, analysts at JPMorgan said, citing positioning data compiled on basis of open interest in CME bitcoin futures contracts.This shows \"the steepest and more sustained liquidation\" in bitcoin futures since last October, they told clients, adding: \"the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors.\"The selloff in crypto assets precisely at a time when inflation fears are in the ascendancy dashes any suggestion of the asset class being an inflation hedge.Instead, more traditional hedges have been gaining ground, with gold up almost 6% so far this month.The recent selloff in bitcoin and other digital currencies has taken market capitalisation of all cryptocurrencies back under $2 trillion, down from the recent $2.5 trillion record.","news_type":1,"symbols_score_info":{"SOS":0.9,"MARA":0.9,"RIOT":0.9,"EBON":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376723716,"gmtCreate":1619150528935,"gmtModify":1634288161484,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Golden words!","listText":"Golden words!","text":"Golden words!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/376723716","repostId":"1171301745","repostType":2,"repost":{"id":"1171301745","kind":"news","pubTimestamp":1619107041,"share":"https://www.laohu8.com/m/news/1171301745?lang=zh_CN&edition=full","pubTime":"2021-04-22 23:57","market":"us","language":"en","title":"Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’<blockquote>沃伦·巴菲特可以向狗狗币、游戏驿站和其他热门趋势的交易者传授一些关于沃伦·巴菲特先生的知识。市场'</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171301745","media":"MarketWatch","summary":"Be skeptical of fads, fashions and trends and operate within your circle of competence\nMarketWatch p","content":"<p>Be skeptical of fads, fashions and trends and operate within your circle of competence</p><p><blockquote>对时尚、流行和趋势持怀疑态度，并在自己的能力范围内运作</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/db221b5c38828963f24b035309d8303e\" tg-width=\"1260\" tg-height=\"876\"><span>MarketWatch photo illustration/iStockphoto</span></p><p><blockquote><p class=\"t-img-caption\"><span>MarketWatch照片插图/iStockphoto</span></p></blockquote></p><p> As the old joke goes, St. Peter had some bad news for an oil&nbsp;prospector&nbsp;who appeared at the pearly gates of heaven: “You’re qualified for admission,” said St. Peter, “but, as you can see, the section for oil prospectors is packed. There’s no way to fit you in.”</p><p><blockquote>正如一个古老的笑话所说，圣彼得对一个出现在天堂之门的石油勘探者有一些坏消息：“你有资格进入，”圣彼得说，“但是，正如你所看到的，石油勘探者区挤满了人。没有办法让你进去。”</blockquote></p><p> After a moment, the prospector asked to say just four words to the present occupants.&nbsp;That seemed harmless to St. Peter, so the prospector yelled, “Oil discovered in hell!”&nbsp; Immediately, most of the oil prospectors stampeded out for the nether regions.&nbsp;Impressed, St. Peter invited the prospector to move in and get comfortable. The prospector paused, saying “No, I think I’ll go along with the rest of them.&nbsp; There might be some truth to that rumor after all.”</p><p><blockquote>过了一会儿，探矿者要求只对现在的居住者说四个字。这对圣彼得来说似乎无害，所以探矿者喊道：“在地狱发现了石油！”随即，大多数石油勘探者纷纷涌向幽冥地区。圣彼得印象深刻，邀请探矿者搬进来，过得舒适些。探矿者停顿了一下，说：“不，我想我会和其他人一起去。毕竟那个谣言可能有一定的真实性。”</blockquote></p><p> Let that be a warning to CEOs and shareholders. Steering clear of rumors and self-delusion has been one of Warren Buffett’s key rules, ingrained into Berkshire Hathaway for years. We all need to hear such lessons repeatedly because reality’s temptations are always at war with our ideals.</p><p><blockquote>让这成为对首席执行官和股东的警告。避开谣言和自欺欺人一直是沃伦·巴菲特的关键规则之一，多年来在伯克希尔·哈撒韦公司根深蒂固。我们都需要反复听到这样的教训，因为现实的诱惑总是与我们的理想交战。</blockquote></p><p> The serial frenzies in meme stocks like&nbsp;GameStop&nbsp;and cryptocurrencies like dogecoin&nbsp;make this a good time to contrast what investors should do from what many seem to do. Comparing Berkshire’s and crypto’s faithful is apt given their outsized followings: an estimated 30 million Americanshave traded cryptocurrencies and 30 million are expected to stream this year’s Berkshire virtual annual meeting on May 1.</p><p><blockquote>游戏驿站等模因股票和狗狗币等加密货币的一系列狂热使得现在是对比投资者应该做什么和许多人似乎在做什么的好时机。考虑到伯克希尔和加密货币的忠实粉丝数量庞大，比较它们是恰当的：估计有3000万美国人交易过加密货币，预计将有3000万人观看今年5月1日举行的伯克希尔虚拟年会。</blockquote></p><p> Buffett defines Berkshire as a corporation with a partnership attitude. The value of each investor’s stake will rise (or fall) in lock step. This contrasts with how many seem to view companies with meme stocks or most of the crypto space. There, the culture is casino-like, where a small few stand to reap unimaginable riches while the overwhelming majority lose their shirts.&nbsp;</p><p><blockquote>巴菲特将伯克希尔定义为一家具有合伙人态度的公司。每个投资者的股份价值将同步上升（或下降）。这与许多人似乎用迷因股票或大部分加密货币领域来看待公司形成了鲜明对比。那里的文化就像赌场一样，少数人收获难以想象的财富，而绝大多数人却输光了。</blockquote></p><p> Moreover, Berkshire’s culture emphasizes patience and permanence. The company ideally holds investments and businesses forever and encourages its shareholders to hold indefinitely, through thick and thin. In the world of meme stocks and cryptocurrency trading, a strong norm favors immediate payday profits to be taken off the board. &nbsp;</p><p><blockquote>而且，伯克希尔的文化强调耐心和恒久。理想情况下，该公司永远持有投资和业务，并鼓励其股东无论同甘共苦都无限期持有。在迷因股票和加密货币交易的世界里，一个强有力的规范有利于立即将发薪日利润从董事会中扣除。 </blockquote></p><p> Relatedly, the Berkshire ideal accepts that it requires decades to build capital and that accumulating wealth entails skill and time — as well as a bit of luck. In contrast are those who strive to get rich quickly — and effortlessly. Today, some investment market players even seem to believe that everyone should be rich, as a matter of entitlement.</p><p><blockquote>与此相关的是，伯克希尔的理想承认，积累资本需要几十年的时间，积累财富需要技能和时间，以及一点运气。相比之下，那些努力快速致富的人——而且毫不费力。今天，一些投资市场参与者甚至似乎认为，每个人都应该富有，这是一种权利。</blockquote></p><p> The ideal Berkshire investor focuses on business, operating strategies, products or services and competitive advantages. For many in the meme-crypto world, what counts is hype and adrenaline, not whether there’s a business plan, let alone operations or customers. The Berkshire model is skeptical of fads, fashions and trends, while dogecoin and other cryptos thrive on these.</p><p><blockquote>理想的伯克希尔投资者关注业务、运营策略、产品或服务以及竞争优势。对于迷因加密世界中的许多人来说，重要的是炒作和肾上腺素，而不是是否有商业计划，更不用说运营或客户了。伯克希尔模型对时尚、时尚和趋势持怀疑态度，而狗狗币和其他加密货币则靠这些蓬勃发展。</blockquote></p><p> This leads to the Berkshire canon’s cardinal principle: the circle of competence. It prescribes to invest only in what you can understand with a moderate amount of effort. This excludes at least some meme stocks and many currently faddish&nbsp;“blank-check” IPO-mergers. For most people, cryptocurrencies are outside of their circle of competence. Indeed, large numbers of investors nowadays appear to be way out of their circle of competence.</p><p><blockquote>这就引出了伯克希尔经典的基本原则：能力圈。它规定只投资于你只要付出适度的努力就能理解的东西。这至少不包括一些模因股票和许多目前流行的“空白支票”IPO合并。对于大多数人来说，加密货币超出了他们的能力范围。事实上，如今大量投资者似乎远远超出了他们的能力范围。</blockquote></p><p> For investments within one’s circle of competence, Berkshire adherents appreciate that prices fluctuate widely and no one can predict such volatility. “Mr. Market” is a moody manic, always willing to trade with you at the going price, sometimes elevated, sometimes depressed.</p><p><blockquote>对于自己能力范围内的投资，伯克希尔的追随者意识到价格波动很大，没有人能够预测这种波动。“市场先生”是一个喜怒无常的狂躁者，总是愿意以现行价格与你交易，有时高，有时低。</blockquote></p><p> Following from both the limits of personal competence and the whims of markets, the Berkshire playbook demands a wide margin between the price paid and the value received. In Berkshire’s value-investing lexicon, this is the “margin of safety,” and Buffett has long said that these are the&nbsp;three most important words in investing.</p><p><blockquote>根据个人能力的限制和市场的波动，伯克希尔的剧本要求支付的价格和收到的价值之间有很大的差距。在伯克希尔的价值投资词典中，这就是“安全边际”，巴菲特早就说过，这是投资中最重要的三个词。</blockquote></p><p> Finally, besides avoiding rumor-mongering and self-delusion, the Berkshire playbook says to beware the delusions of others. Berkshire’s Vice Chairman, Charlie Munger, tells a story about fishing for muskies at Leech Lake in Minnesota. A visiting angler asked the local guide, “Are any muskies caught in this lake?”</p><p><blockquote>最后，除了避免散布谣言和自欺欺人之外，伯克希尔的剧本还说要小心他人的妄想。伯克希尔副董事长查理·芒格讲述了一个在明尼苏达州利奇湖钓麝香鱼的故事。一位来访的垂钓者问当地导游：“这个湖里有钓到麝香鱼吗？”</blockquote></p><p> “More muskies are caught in this lake than in any other lake in Minnesota,” the guide replied.&nbsp; “This lake is famous for muskies.”</p><p><blockquote>“这个湖捕获的麝香鱼比明尼苏达州任何其他湖都多，”向导回答说，“这个湖以麝香鱼闻名。”</blockquote></p><p> “How long have you been fishing here?”</p><p><blockquote>“你在这里钓鱼多久了？”</blockquote></p><p> “Nineteen years,” the guide said.</p><p><blockquote>“十九年，”向导说。</blockquote></p><p> “And how many muskies have you caught?”</p><p><blockquote>“你抓了多少麝香猫？”</blockquote></p><p> “None.”</p><p><blockquote>“没有。”</blockquote></p><p></p><p> So the next time someone tells you of the untold riches being made in day trading, ask them, “How much cash have you banked?”</p><p><blockquote>所以，下次有人告诉你日内交易创造了数不清的财富时，问问他们，“你存了多少现金？”</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>Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’<blockquote>沃伦·巴菲特可以向狗狗币、游戏驿站和其他热门趋势的交易者传授一些关于沃伦·巴菲特先生的知识。市场'</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’<blockquote>沃伦·巴菲特可以向狗狗币、游戏驿站和其他热门趋势的交易者传授一些关于沃伦·巴菲特先生的知识。市场'</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-04-22 23:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Be skeptical of fads, fashions and trends and operate within your circle of competence</p><p><blockquote>对时尚、流行和趋势持怀疑态度，并在自己的能力范围内运作</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/db221b5c38828963f24b035309d8303e\" tg-width=\"1260\" tg-height=\"876\"><span>MarketWatch photo illustration/iStockphoto</span></p><p><blockquote><p class=\"t-img-caption\"><span>MarketWatch照片插图/iStockphoto</span></p></blockquote></p><p> As the old joke goes, St. Peter had some bad news for an oil&nbsp;prospector&nbsp;who appeared at the pearly gates of heaven: “You’re qualified for admission,” said St. Peter, “but, as you can see, the section for oil prospectors is packed. There’s no way to fit you in.”</p><p><blockquote>正如一个古老的笑话所说，圣彼得对一个出现在天堂之门的石油勘探者有一些坏消息：“你有资格进入，”圣彼得说，“但是，正如你所看到的，石油勘探者区挤满了人。没有办法让你进去。”</blockquote></p><p> After a moment, the prospector asked to say just four words to the present occupants.&nbsp;That seemed harmless to St. Peter, so the prospector yelled, “Oil discovered in hell!”&nbsp; Immediately, most of the oil prospectors stampeded out for the nether regions.&nbsp;Impressed, St. Peter invited the prospector to move in and get comfortable. The prospector paused, saying “No, I think I’ll go along with the rest of them.&nbsp; There might be some truth to that rumor after all.”</p><p><blockquote>过了一会儿，探矿者要求只对现在的居住者说四个字。这对圣彼得来说似乎无害，所以探矿者喊道：“在地狱发现了石油！”随即，大多数石油勘探者纷纷涌向幽冥地区。圣彼得印象深刻，邀请探矿者搬进来，过得舒适些。探矿者停顿了一下，说：“不，我想我会和其他人一起去。毕竟那个谣言可能有一定的真实性。”</blockquote></p><p> Let that be a warning to CEOs and shareholders. Steering clear of rumors and self-delusion has been one of Warren Buffett’s key rules, ingrained into Berkshire Hathaway for years. We all need to hear such lessons repeatedly because reality’s temptations are always at war with our ideals.</p><p><blockquote>让这成为对首席执行官和股东的警告。避开谣言和自欺欺人一直是沃伦·巴菲特的关键规则之一，多年来在伯克希尔·哈撒韦公司根深蒂固。我们都需要反复听到这样的教训，因为现实的诱惑总是与我们的理想交战。</blockquote></p><p> The serial frenzies in meme stocks like&nbsp;GameStop&nbsp;and cryptocurrencies like dogecoin&nbsp;make this a good time to contrast what investors should do from what many seem to do. Comparing Berkshire’s and crypto’s faithful is apt given their outsized followings: an estimated 30 million Americanshave traded cryptocurrencies and 30 million are expected to stream this year’s Berkshire virtual annual meeting on May 1.</p><p><blockquote>游戏驿站等模因股票和狗狗币等加密货币的一系列狂热使得现在是对比投资者应该做什么和许多人似乎在做什么的好时机。考虑到伯克希尔和加密货币的忠实粉丝数量庞大，比较它们是恰当的：估计有3000万美国人交易过加密货币，预计将有3000万人观看今年5月1日举行的伯克希尔虚拟年会。</blockquote></p><p> Buffett defines Berkshire as a corporation with a partnership attitude. The value of each investor’s stake will rise (or fall) in lock step. This contrasts with how many seem to view companies with meme stocks or most of the crypto space. There, the culture is casino-like, where a small few stand to reap unimaginable riches while the overwhelming majority lose their shirts.&nbsp;</p><p><blockquote>巴菲特将伯克希尔定义为一家具有合伙人态度的公司。每个投资者的股份价值将同步上升（或下降）。这与许多人似乎用迷因股票或大部分加密货币领域来看待公司形成了鲜明对比。那里的文化就像赌场一样，少数人收获难以想象的财富，而绝大多数人却输光了。</blockquote></p><p> Moreover, Berkshire’s culture emphasizes patience and permanence. The company ideally holds investments and businesses forever and encourages its shareholders to hold indefinitely, through thick and thin. In the world of meme stocks and cryptocurrency trading, a strong norm favors immediate payday profits to be taken off the board. &nbsp;</p><p><blockquote>而且，伯克希尔的文化强调耐心和恒久。理想情况下，该公司永远持有投资和业务，并鼓励其股东无论同甘共苦都无限期持有。在迷因股票和加密货币交易的世界里，一个强有力的规范有利于立即将发薪日利润从董事会中扣除。 </blockquote></p><p> Relatedly, the Berkshire ideal accepts that it requires decades to build capital and that accumulating wealth entails skill and time — as well as a bit of luck. In contrast are those who strive to get rich quickly — and effortlessly. Today, some investment market players even seem to believe that everyone should be rich, as a matter of entitlement.</p><p><blockquote>与此相关的是，伯克希尔的理想承认，积累资本需要几十年的时间，积累财富需要技能和时间，以及一点运气。相比之下，那些努力快速致富的人——而且毫不费力。今天，一些投资市场参与者甚至似乎认为，每个人都应该富有，这是一种权利。</blockquote></p><p> The ideal Berkshire investor focuses on business, operating strategies, products or services and competitive advantages. For many in the meme-crypto world, what counts is hype and adrenaline, not whether there’s a business plan, let alone operations or customers. The Berkshire model is skeptical of fads, fashions and trends, while dogecoin and other cryptos thrive on these.</p><p><blockquote>理想的伯克希尔投资者关注业务、运营策略、产品或服务以及竞争优势。对于迷因加密世界中的许多人来说，重要的是炒作和肾上腺素，而不是是否有商业计划，更不用说运营或客户了。伯克希尔模型对时尚、时尚和趋势持怀疑态度，而狗狗币和其他加密货币则靠这些蓬勃发展。</blockquote></p><p> This leads to the Berkshire canon’s cardinal principle: the circle of competence. It prescribes to invest only in what you can understand with a moderate amount of effort. This excludes at least some meme stocks and many currently faddish&nbsp;“blank-check” IPO-mergers. For most people, cryptocurrencies are outside of their circle of competence. Indeed, large numbers of investors nowadays appear to be way out of their circle of competence.</p><p><blockquote>这就引出了伯克希尔经典的基本原则：能力圈。它规定只投资于你只要付出适度的努力就能理解的东西。这至少不包括一些模因股票和许多目前流行的“空白支票”IPO合并。对于大多数人来说，加密货币超出了他们的能力范围。事实上，如今大量投资者似乎远远超出了他们的能力范围。</blockquote></p><p> For investments within one’s circle of competence, Berkshire adherents appreciate that prices fluctuate widely and no one can predict such volatility. “Mr. Market” is a moody manic, always willing to trade with you at the going price, sometimes elevated, sometimes depressed.</p><p><blockquote>对于自己能力范围内的投资，伯克希尔的追随者意识到价格波动很大，没有人能够预测这种波动。“市场先生”是一个喜怒无常的狂躁者，总是愿意以现行价格与你交易，有时高，有时低。</blockquote></p><p> Following from both the limits of personal competence and the whims of markets, the Berkshire playbook demands a wide margin between the price paid and the value received. In Berkshire’s value-investing lexicon, this is the “margin of safety,” and Buffett has long said that these are the&nbsp;three most important words in investing.</p><p><blockquote>根据个人能力的限制和市场的波动，伯克希尔的剧本要求支付的价格和收到的价值之间有很大的差距。在伯克希尔的价值投资词典中，这就是“安全边际”，巴菲特早就说过，这是投资中最重要的三个词。</blockquote></p><p> Finally, besides avoiding rumor-mongering and self-delusion, the Berkshire playbook says to beware the delusions of others. Berkshire’s Vice Chairman, Charlie Munger, tells a story about fishing for muskies at Leech Lake in Minnesota. A visiting angler asked the local guide, “Are any muskies caught in this lake?”</p><p><blockquote>最后，除了避免散布谣言和自欺欺人之外，伯克希尔的剧本还说要小心他人的妄想。伯克希尔副董事长查理·芒格讲述了一个在明尼苏达州利奇湖钓麝香鱼的故事。一位来访的垂钓者问当地导游：“这个湖里有钓到麝香鱼吗？”</blockquote></p><p> “More muskies are caught in this lake than in any other lake in Minnesota,” the guide replied.&nbsp; “This lake is famous for muskies.”</p><p><blockquote>“这个湖捕获的麝香鱼比明尼苏达州任何其他湖都多，”向导回答说，“这个湖以麝香鱼闻名。”</blockquote></p><p> “How long have you been fishing here?”</p><p><blockquote>“你在这里钓鱼多久了？”</blockquote></p><p> “Nineteen years,” the guide said.</p><p><blockquote>“十九年，”向导说。</blockquote></p><p> “And how many muskies have you caught?”</p><p><blockquote>“你抓了多少麝香猫？”</blockquote></p><p> “None.”</p><p><blockquote>“没有。”</blockquote></p><p></p><p> So the next time someone tells you of the untold riches being made in day trading, ask them, “How much cash have you banked?”</p><p><blockquote>所以，下次有人告诉你日内交易创造了数不清的财富时，问问他们，“你存了多少现金？”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/warren-buffett-could-teach-traders-in-dogecoin-gamestop-and-other-hot-trends-a-few-things-about-mr-market-11619079021?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":{".SPX":"S&P 500 Index","AMC":"AMC院线",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","GME":"游戏驿站","GBTC":"比特币ETF-Grayscale"},"source_url":"https://www.marketwatch.com/story/warren-buffett-could-teach-traders-in-dogecoin-gamestop-and-other-hot-trends-a-few-things-about-mr-market-11619079021?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171301745","content_text":"Be skeptical of fads, fashions and trends and operate within your circle of competence\nMarketWatch photo illustration/iStockphoto\nAs the old joke goes, St. Peter had some bad news for an oil prospector who appeared at the pearly gates of heaven: “You’re qualified for admission,” said St. Peter, “but, as you can see, the section for oil prospectors is packed. There’s no way to fit you in.”\nAfter a moment, the prospector asked to say just four words to the present occupants. That seemed harmless to St. Peter, so the prospector yelled, “Oil discovered in hell!”  Immediately, most of the oil prospectors stampeded out for the nether regions. Impressed, St. Peter invited the prospector to move in and get comfortable. The prospector paused, saying “No, I think I’ll go along with the rest of them.  There might be some truth to that rumor after all.”\nLet that be a warning to CEOs and shareholders. Steering clear of rumors and self-delusion has been one of Warren Buffett’s key rules, ingrained into Berkshire Hathaway for years. We all need to hear such lessons repeatedly because reality’s temptations are always at war with our ideals.\nThe serial frenzies in meme stocks like GameStop and cryptocurrencies like dogecoin make this a good time to contrast what investors should do from what many seem to do. Comparing Berkshire’s and crypto’s faithful is apt given their outsized followings: an estimated 30 million Americanshave traded cryptocurrencies and 30 million are expected to stream this year’s Berkshire virtual annual meeting on May 1.\nBuffett defines Berkshire as a corporation with a partnership attitude. The value of each investor’s stake will rise (or fall) in lock step. This contrasts with how many seem to view companies with meme stocks or most of the crypto space. There, the culture is casino-like, where a small few stand to reap unimaginable riches while the overwhelming majority lose their shirts. \nMoreover, Berkshire’s culture emphasizes patience and permanence. The company ideally holds investments and businesses forever and encourages its shareholders to hold indefinitely, through thick and thin. In the world of meme stocks and cryptocurrency trading, a strong norm favors immediate payday profits to be taken off the board.  \nRelatedly, the Berkshire ideal accepts that it requires decades to build capital and that accumulating wealth entails skill and time — as well as a bit of luck. In contrast are those who strive to get rich quickly — and effortlessly. Today, some investment market players even seem to believe that everyone should be rich, as a matter of entitlement.\nThe ideal Berkshire investor focuses on business, operating strategies, products or services and competitive advantages. For many in the meme-crypto world, what counts is hype and adrenaline, not whether there’s a business plan, let alone operations or customers. The Berkshire model is skeptical of fads, fashions and trends, while dogecoin and other cryptos thrive on these.\nThis leads to the Berkshire canon’s cardinal principle: the circle of competence. It prescribes to invest only in what you can understand with a moderate amount of effort. This excludes at least some meme stocks and many currently faddish “blank-check” IPO-mergers. For most people, cryptocurrencies are outside of their circle of competence. Indeed, large numbers of investors nowadays appear to be way out of their circle of competence.\nFor investments within one’s circle of competence, Berkshire adherents appreciate that prices fluctuate widely and no one can predict such volatility. “Mr. Market” is a moody manic, always willing to trade with you at the going price, sometimes elevated, sometimes depressed.\nFollowing from both the limits of personal competence and the whims of markets, the Berkshire playbook demands a wide margin between the price paid and the value received. In Berkshire’s value-investing lexicon, this is the “margin of safety,” and Buffett has long said that these are the three most important words in investing.\nFinally, besides avoiding rumor-mongering and self-delusion, the Berkshire playbook says to beware the delusions of others. Berkshire’s Vice Chairman, Charlie Munger, tells a story about fishing for muskies at Leech Lake in Minnesota. A visiting angler asked the local guide, “Are any muskies caught in this lake?”\n“More muskies are caught in this lake than in any other lake in Minnesota,” the guide replied.  “This lake is famous for muskies.”\n“How long have you been fishing here?”\n“Nineteen years,” the guide said.\n“And how many muskies have you caught?”\n“None.”\nSo the next time someone tells you of the untold riches being made in day trading, ask them, “How much cash have you banked?”","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,"GME":0.9,"BTCmain":0.9,"GBTC":0.9,"XBTmain":0.9,"AMC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":443,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376766042,"gmtCreate":1619149941186,"gmtModify":1634288166582,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Because of GME?! Hahaha","listText":"Because of GME?! Hahaha","text":"Because of GME?! Hahaha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/376766042","repostId":"1141178573","repostType":4,"isVote":1,"tweetType":1,"viewCount":781,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370218416,"gmtCreate":1618585787735,"gmtModify":1634291897965,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","listText":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","text":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/370218416","repostId":"1156411249","repostType":4,"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347603066,"gmtCreate":1618490384655,"gmtModify":1634292600639,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Should be MORE!","listText":"Should be MORE!","text":"Should be MORE!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/347603066","repostId":"2127007082","repostType":4,"isVote":1,"tweetType":1,"viewCount":683,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342760057,"gmtCreate":1618242947679,"gmtModify":1634294188311,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"I'm not convinced...","listText":"I'm not convinced...","text":"I'm not convinced...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/342760057","repostId":"1188840982","repostType":4,"repost":{"id":"1188840982","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":1618237983,"share":"https://www.laohu8.com/m/news/1188840982?lang=zh_CN&edition=full","pubTime":"2021-04-12 22:33","market":"us","language":"en","title":"GameStop plunged more than 10%, GameStop Skeptic Warns That Reddit Rally Will Fade<blockquote>游戏驿站暴跌逾10%，游戏驿站怀疑论者警告Reddit涨势将消退</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188840982","media":"Tiger Newspress","summary":"(April 12) GameStop plunged more than 10%，GameStop Skeptic Warns That Reddit Rally Will Fade; Shares","content":"<p>(April 12)&nbsp;GameStop plunged more than 10%，GameStop Skeptic Warns That Reddit Rally Will Fade; Shares Slump.</p><p><blockquote>（4月12日）游戏驿站暴跌逾10%，游戏驿站怀疑论者警告Reddit涨势将消退；股价暴跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0e0e81ec43e109abaa82e6aae6fe9a36\" tg-width=\"663\" tg-height=\"564\">GameStop Corp.’s Reddit-fueled trading surge is likely going to fade as threats from digital game downloads sink in, according to one skeptical Wall Street analyst.</p><p><blockquote>一位持怀疑态度的华尔街分析师表示，随着数字游戏下载的威胁逐渐加深，游戏驿站公司在Reddit推动下的交易激增可能会消退。</blockquote></p><p> The stock slumped after Ascendiant Capital Markets analyst Edward Woo downgraded the retailer to sell from hold, saying increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share. He warned clients in a note about the long-term prospects for the company as the market for new gaming systems matures after new launches from Microsoft Corp. and Sony Group Corp.</p><p><blockquote>Ascendiant Capital Markets分析师Edward Woo将该零售商的评级从持有下调至卖出，称鉴于游戏驿站的市场份额微乎其微，增加视频游戏发行商的数字销售是一个迫在眉睫的风险，随后该股暴跌。他在一份报告中警告客户，随着微软公司和索尼集团公司推出新游戏系统后新游戏系统市场的成熟，该公司的长期前景将受到影响。</blockquote></p><p> The video-game retailer’s 741% surge this year through Friday’s close pushed its market value to $11 billion, however, Woo expects shares will tumble in the long run “to match its current weak results and outlook.” He trimmed his price target to $10 from $12, implying as much as a 94% drop from Friday’s close at $158.36.</p><p><blockquote>截至周五收盘，这家视频游戏零售商今年股价飙升741%，将其市值推至110亿美元，然而，Woo预计，从长远来看，股价将暴跌，“以匹配其目前疲软的业绩和前景”。他将目标价从12美元下调至10美元，这意味着较周五收盘价158.36美元下跌了94%。</blockquote></p><p> Shares of the Grapevine, Texas-based company reversed initial gains to slump as much as 11% at 9:58 a.m. in New York. The stock has shed a quarter of its value in the past six session after a company plan to sell as much as $1 billion in additional shares.</p><p><blockquote>纽约时间上午9点58分，这家总部位于德克萨斯州格雷普韦恩的公司股价扭转了最初的涨幅，暴跌11%。在一家公司计划出售高达10亿美元的额外股票后，该股在过去六个交易日中下跌了四分之一。</blockquote></p><p> Ascendiant called out the rise in popularity of GameStop on Reddit chat boards and with Robinhood investors for making shares trade on “retail investors sentiment, hope, momentum, and the powers of crowds” in place of fundamental metrics. Woo did acknowledge the mania can drive shares much higher in the near-term, making short-term price forecasts “nearly impossible.”</p><p><blockquote>Ascendiant呼吁游戏驿站在Reddit聊天板和Robinhood投资者中越来越受欢迎，因为他们根据“散户投资者的情绪、希望、势头和人群的力量”而不是基本指标进行股票交易。吴确实承认，这种狂热可能会在短期内推动股价大幅上涨，使得短期价格预测“几乎不可能”。</blockquote></p><p> The stock now has five sell-equivalent ratings, compared to two hold ratings and zero buys, data compiled by Bloomberg show. An average price target of $46.50 implies shares will lose more than two-thirds of their value in the coming year.</p><p><blockquote>彭博社汇编的数据显示，该股目前有五个卖出评级，而两个持有评级和零买入评级。46.50美元的平均目标价意味着未来一年股价将损失三分之二以上。</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>GameStop plunged more than 10%, GameStop Skeptic Warns That Reddit Rally Will Fade<blockquote>游戏驿站暴跌逾10%，游戏驿站怀疑论者警告Reddit涨势将消退</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\">\nGameStop plunged more than 10%, GameStop Skeptic Warns That Reddit Rally Will Fade<blockquote>游戏驿站暴跌逾10%，游戏驿站怀疑论者警告Reddit涨势将消退</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\">2021-04-12 22:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(April 12)&nbsp;GameStop plunged more than 10%，GameStop Skeptic Warns That Reddit Rally Will Fade; Shares Slump.</p><p><blockquote>（4月12日）游戏驿站暴跌逾10%，游戏驿站怀疑论者警告Reddit涨势将消退；股价暴跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0e0e81ec43e109abaa82e6aae6fe9a36\" tg-width=\"663\" tg-height=\"564\">GameStop Corp.’s Reddit-fueled trading surge is likely going to fade as threats from digital game downloads sink in, according to one skeptical Wall Street analyst.</p><p><blockquote>一位持怀疑态度的华尔街分析师表示，随着数字游戏下载的威胁逐渐加深，游戏驿站公司在Reddit推动下的交易激增可能会消退。</blockquote></p><p> The stock slumped after Ascendiant Capital Markets analyst Edward Woo downgraded the retailer to sell from hold, saying increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share. He warned clients in a note about the long-term prospects for the company as the market for new gaming systems matures after new launches from Microsoft Corp. and Sony Group Corp.</p><p><blockquote>Ascendiant Capital Markets分析师Edward Woo将该零售商的评级从持有下调至卖出，称鉴于游戏驿站的市场份额微乎其微，增加视频游戏发行商的数字销售是一个迫在眉睫的风险，随后该股暴跌。他在一份报告中警告客户，随着微软公司和索尼集团公司推出新游戏系统后新游戏系统市场的成熟，该公司的长期前景将受到影响。</blockquote></p><p> The video-game retailer’s 741% surge this year through Friday’s close pushed its market value to $11 billion, however, Woo expects shares will tumble in the long run “to match its current weak results and outlook.” He trimmed his price target to $10 from $12, implying as much as a 94% drop from Friday’s close at $158.36.</p><p><blockquote>截至周五收盘，这家视频游戏零售商今年股价飙升741%，将其市值推至110亿美元，然而，Woo预计，从长远来看，股价将暴跌，“以匹配其目前疲软的业绩和前景”。他将目标价从12美元下调至10美元，这意味着较周五收盘价158.36美元下跌了94%。</blockquote></p><p> Shares of the Grapevine, Texas-based company reversed initial gains to slump as much as 11% at 9:58 a.m. in New York. The stock has shed a quarter of its value in the past six session after a company plan to sell as much as $1 billion in additional shares.</p><p><blockquote>纽约时间上午9点58分，这家总部位于德克萨斯州格雷普韦恩的公司股价扭转了最初的涨幅，暴跌11%。在一家公司计划出售高达10亿美元的额外股票后，该股在过去六个交易日中下跌了四分之一。</blockquote></p><p> Ascendiant called out the rise in popularity of GameStop on Reddit chat boards and with Robinhood investors for making shares trade on “retail investors sentiment, hope, momentum, and the powers of crowds” in place of fundamental metrics. Woo did acknowledge the mania can drive shares much higher in the near-term, making short-term price forecasts “nearly impossible.”</p><p><blockquote>Ascendiant呼吁游戏驿站在Reddit聊天板和Robinhood投资者中越来越受欢迎，因为他们根据“散户投资者的情绪、希望、势头和人群的力量”而不是基本指标进行股票交易。吴确实承认，这种狂热可能会在短期内推动股价大幅上涨，使得短期价格预测“几乎不可能”。</blockquote></p><p> The stock now has five sell-equivalent ratings, compared to two hold ratings and zero buys, data compiled by Bloomberg show. An average price target of $46.50 implies shares will lose more than two-thirds of their value in the coming year.</p><p><blockquote>彭博社汇编的数据显示，该股目前有五个卖出评级，而两个持有评级和零买入评级。46.50美元的平均目标价意味着未来一年股价将损失三分之二以上。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188840982","content_text":"(April 12) GameStop plunged more than 10%，GameStop Skeptic Warns That Reddit Rally Will Fade; Shares Slump.\nGameStop Corp.’s Reddit-fueled trading surge is likely going to fade as threats from digital game downloads sink in, according to one skeptical Wall Street analyst.\nThe stock slumped after Ascendiant Capital Markets analyst Edward Woo downgraded the retailer to sell from hold, saying increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share. He warned clients in a note about the long-term prospects for the company as the market for new gaming systems matures after new launches from Microsoft Corp. and Sony Group Corp.\nThe video-game retailer’s 741% surge this year through Friday’s close pushed its market value to $11 billion, however, Woo expects shares will tumble in the long run “to match its current weak results and outlook.” He trimmed his price target to $10 from $12, implying as much as a 94% drop from Friday’s close at $158.36.\nShares of the Grapevine, Texas-based company reversed initial gains to slump as much as 11% at 9:58 a.m. in New York. The stock has shed a quarter of its value in the past six session after a company plan to sell as much as $1 billion in additional shares.\nAscendiant called out the rise in popularity of GameStop on Reddit chat boards and with Robinhood investors for making shares trade on “retail investors sentiment, hope, momentum, and the powers of crowds” in place of fundamental metrics. Woo did acknowledge the mania can drive shares much higher in the near-term, making short-term price forecasts “nearly impossible.”\nThe stock now has five sell-equivalent ratings, compared to two hold ratings and zero buys, data compiled by Bloomberg show. An average price target of $46.50 implies shares will lose more than two-thirds of their value in the coming year.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341832276,"gmtCreate":1617802142195,"gmtModify":1634296437783,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"I am holding my breath&nbsp;for MSFT","listText":"I am holding my breath&nbsp;for MSFT","text":"I am holding my breath for MSFT","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/341832276","repostId":"1180267411","repostType":2,"repost":{"id":"1180267411","kind":"news","pubTimestamp":1617779264,"share":"https://www.laohu8.com/m/news/1180267411?lang=zh_CN&edition=full","pubTime":"2021-04-07 15:07","market":"us","language":"en","title":"4 Dow Jones Stocks To Buy And Watch In April 2021: Apple Rallies, Microsoft Is Breaking Out<blockquote>2021年4月值得买入和关注的4只道琼斯股票：苹果上涨，微软爆发</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180267411","media":"investors","summary":"TheDow Jones Industrial Averageremain near record highs at the end of March, as the current stock ma","content":"<p>TheDow Jones Industrial Averageremain near record highs at the end of March, as the current stock market rally continues. The best Dow Jones stocks to buy and watch in April 2021 are<b>Apple</b>(AAPL),<b>Boeing</b>(BA),<b>Disney</b>(DIS) and<b>Microsoft</b>(MSFT).</p><p><blockquote>随着当前股市反弹的继续，道琼斯工业平均指数仍接近三月底的历史高点。2021年4月最值得购买和关注的道琼斯股票是<b>苹果</b>（苹果公司），<b>波音公司</b>（BA），<b>迪斯尼</b>(DIS)和<b>微软</b>（MSFT）。</blockquote></p><p>key action. We're going to break down for you this week as wellVolume 0%</p><p><blockquote>关键行动。本周我们也将为您进行细分成交量0%</blockquote></p><p>There are clear winners — and losers — heading into the fourth month of 2021. The top three performing Dow Jones stocks through March were<b>Walgreens Boots Alliance</b>(WBA),<b>Intel</b>(INTC) and<b>Caterpillar</b>(CAT) with advances of 37.7%, 28.5% and 27.4%, respectively.</p><p><blockquote>进入2021年第四个月，有明显的赢家和输家。截至3月份表现最好的三只道琼斯股票是<b>沃尔格林靴子联盟</b>（WBA），<b>英特尔</b>(INTC)和<b>毛虫</b>（卡特彼勒）分别增长37.7%、28.5%和27.4%。</blockquote></p><p>The three biggest Dow Jones losers through March 2021 were<b>Apple</b>(AAPL),<b>Nike</b>(NKE) and<b>Walmart</b>(WMT) with declines of 7.9%, 6.1% and 5.8%, respectively.</p><p><blockquote>截至2021年3月，道琼斯指数跌幅最大的三只股票是<b>苹果</b>（苹果公司），<b>耐克</b>（NKE）和<b>沃尔玛</b>(WMT)分别下降7.9%、6.1%和5.8%。</blockquote></p><p>Amid the current stock market rally, the tech-heavy Nasdaq ended March up 2.8%. The S&amp;P 500 was up 5.8%, while the DJIA was up 7.8% through March 31.</p><p><blockquote>在当前股市上涨的背景下，以科技股为主的纳斯达克3月底上涨2.8%。截至3月31日，标普500上涨5.8%，道琼斯上涨7.8%。</blockquote></p><p>What Is The Dow Jones Industrial Average?</p><p><blockquote>什么是道琼斯工业平均指数？</blockquote></p><p>Founded in 1896 with 12 stocks, theDow Jones Industrial Averageis one of the oldest stock market indexes. There are 30 Dow Jones stocks designed to serve as a bellwether for the general U.S. stock market. Other major stock indexes include the technology-heavy Nasdaq composite and the S&amp;P 500 index — an index of the 500 largest companies in the United States.</p><p><blockquote>道琼斯工业平均指数成立于1896年，共有12只股票，是最古老的股市指数之一。道琼斯指数共有30只股票，旨在成为美国股市整体的风向标。其他主要股指包括以科技股为主的纳斯达克综合指数和标普500指数——美国500家最大公司的指数。</blockquote></p><p>Best Dow Jones Stocks To Buy And Watch</p><p><blockquote>最值得购买和关注的道琼斯股票</blockquote></p><p><table><thead><tr><th>Company Name</th><th>Symbol</th><th>Closing Price</th><th>2021 YTD Performance</th></tr></thead><tbody><tr><td>Apple</td><td>(AAPL)</td><td>122.15</td><td>-7.9%</td></tr><tr><td>Boeing</td><td>(BA)</td><td>254.72</td><td>+19.0%</td></tr><tr><td>Disney</td><td>(DIS)</td><td>184.52</td><td>+1.8%</td></tr><tr><td>Microsoft</td><td>(MSFT)</td><td>235.77</td><td>+6.0%</td></tr><tr><td>Salesforce.com</td><td>(CRM)</td><td>211.87</td><td>-4.8%</td></tr><tr><td>Visa</td><td>(V)</td><td>211.73</td><td>-3.2%</td></tr></tbody></table>Source: IBD Data As Of Feb. 26, 2021</p><p><blockquote><table><thead><tr><th>公司名称</th><th>象征</th><th>收盘价</th><th>2021年初至今业绩</th></tr></thead><tbody><tr><td>苹果</td><td>(AAPL)</td><td>122.15</td><td>-7.9%</td></tr><tr><td>波音公司</td><td>（BA）</td><td>254.72</td><td>+19.0%</td></tr><tr><td>迪斯尼</td><td>（DIS）</td><td>184.52</td><td>+1.8%</td></tr><tr><td>微软</td><td>（MSFT）</td><td>235.77</td><td>+6.0%</td></tr><tr><td>Salesforce.com</td><td>(CRM)</td><td>211.87</td><td>-4.8%</td></tr><tr><td>签证</td><td>(V)</td><td>211.73</td><td>-3.2%</td></tr></tbody></table>资料来源：IBD数据截至2021年2月26日</blockquote></p><p>Amid the current stock market rally — according to theIBD Big Picture— investors should focus on buying top stocks breaking out past correct buy points.</p><p><blockquote>根据IBD大局，在当前股市上涨的情况下，投资者应重点购买突破正确买入点的顶级股票。</blockquote></p><p>Focus on stocks that show&nbsp;strong relative strengthduring the recent stock market weakness. They could be some of market's leaders if the indexes are able to continue their rebound.</p><p><blockquote>重点关注在近期股市疲软期间表现出较强相对强势的股票。如果指数能够继续反弹，他们可能会成为市场的领头羊。</blockquote></p><p>Potential Dow Jones stocks to buy and watch in April 2021 that are in or near buy zones include Apple, Boeing, Disney and Microsoft.</p><p><blockquote>2021年4月处于或接近买入区的潜在道琼斯股票包括苹果、波音、迪斯尼和微软。</blockquote></p><p>Apple Stock</p><p><blockquote>苹果股票</blockquote></p><p>Among the top&nbsp;Dow Jones stocks, Apple rose 0.25% Tuesday. Apple stock is below its 10-week line and is about 17% off its 52-week high. A strong rebound back above the 10-week level would be bullish for the stock's prospects.</p><p><blockquote>在道琼斯顶级股票中，苹果周二上涨0.25%。苹果股价低于10周线，较52周高点下跌约17%。强劲反弹至10周水平上方将利好该股前景。</blockquote></p><p>On Feb. 18, the stock triggered the 7%-8% loss-cutting sell rule when it fell more than 7% below its 138.89 buy point in a cup with handle.</p><p><blockquote>2月18日，当该股跌破138.89买入点超过7%时，触发了7%-8%的止损卖出规则。</blockquote></p><p>According to theIBD Stock Checkup,Apple stock showsa 67 out of a best-possible 99 IBD Composite Rating. TheComposite Rating&nbsp;— an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock's strengths.</p><p><blockquote>根据IBD股票检查，苹果股票的IBD综合评级为67分（满分99分）。综合评级是识别顶级成长型股票的简单方法，它融合了关键的基本面和技术指标，可帮助投资者衡量股票的优势。</blockquote></p><p>Boeing Stock</p><p><blockquote>波音股票</blockquote></p><p>Airplane maker Boeing is back in buy range above a 244.18 buy point in a cup base, according toIBD MarketSmithchart analysis. The 5% buy range goes up to 256.39.</p><p><blockquote>根据IBD MarketSmithChart分析，飞机制造商波音公司回到了杯底244.18买入点上方的买入区间。5%买入区间升至256.39。</blockquote></p><p>Shares fell 1.6% Tuesday.</p><p><blockquote>周二股价下跌1.6%。</blockquote></p><p>Disney Stock</p><p><blockquote>迪士尼股票</blockquote></p><p>Disney stock is in the buy range past a 183.50buy pointin aflat base, according to&nbsp;IBD MarketSmithchart analysis. The 5% buy area goes up to 192.68.</p><p><blockquote>根据IBD MarketSmithchart分析，迪士尼股票处于买入区间，超过183.50买入点。5%买入区域升至192.68。</blockquote></p><p>Disney stock moved up 0.65% Tuesday.</p><p><blockquote>迪士尼股价周二上涨0.65%。</blockquote></p><p>Microsoft Stock</p><p><blockquote>微软股票</blockquote></p><p>Software giant Microsoft was down 0.5% Tuesday. Shares of the Dow Jones leader are breaking out above a 246.23 buy point in a new flat base.</p><p><blockquote>软件巨头微软周二下跌0.5%。道琼斯指数领头羊的股价在新的持平基础上突破246.23买入点。</blockquote></p><p>Microsoft is anIBD Leaderboardstock. Per Leaderboard commentary, \"Microsoft is now forming a flat base, even as it trades just above an earlier 232.96 buy point. It's still above an early entry of 228.22.\"</p><p><blockquote>微软是IBD排行榜股票。根据排行榜评论，“微软现在正在形成一个平坦的基础，尽管它的交易价格略高于早些时候的232.96买入点。它仍然高于228.22的早期入场点。”</blockquote></p><p><b>Tip:</b>&nbsp;Before making any investment decisions, be sure to check&nbsp;current market conditions, and use&nbsp;IBD Stock Checkup&nbsp;to see if your stock gets passing ratings for the most important fundamental and technical criteria. To get&nbsp;ongoing chart analysis, and alerts to buy and sell signals, check out the unique features, stock lists and chart annotations at&nbsp;MarketSmith,&nbsp;Leaderboard&nbsp;and&nbsp;SwingTrader.</p><p><blockquote><b>提示：</b>在做出任何投资决定之前，请务必检查当前的市场状况，并使用IBD股票检查来查看您的股票是否在最重要的基本面和技术标准方面获得通过评级。要获得持续的图表分析以及买卖信号警报，请查看MarketSmith、Leaderboard和SwingTrader的独特功能、股票列表和图表注释。</blockquote></p><p></p>","source":"lsy1610449120050","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>4 Dow Jones Stocks To Buy And Watch In April 2021: Apple Rallies, Microsoft Is Breaking Out<blockquote>2021年4月值得买入和关注的4只道琼斯股票：苹果上涨，微软爆发</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\">\n4 Dow Jones Stocks To Buy And Watch In April 2021: Apple Rallies, Microsoft Is Breaking Out<blockquote>2021年4月值得买入和关注的4只道琼斯股票：苹果上涨，微软爆发</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investors</strong><span class=\"h-time small\">2021-04-07 15:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>TheDow Jones Industrial Averageremain near record highs at the end of March, as the current stock market rally continues. The best Dow Jones stocks to buy and watch in April 2021 are<b>Apple</b>(AAPL),<b>Boeing</b>(BA),<b>Disney</b>(DIS) and<b>Microsoft</b>(MSFT).</p><p><blockquote>随着当前股市反弹的继续，道琼斯工业平均指数仍接近三月底的历史高点。2021年4月最值得购买和关注的道琼斯股票是<b>苹果</b>（苹果公司），<b>波音公司</b>（BA），<b>迪斯尼</b>(DIS)和<b>微软</b>（MSFT）。</blockquote></p><p>key action. We're going to break down for you this week as wellVolume 0%</p><p><blockquote>关键行动。本周我们也将为您进行细分成交量0%</blockquote></p><p>There are clear winners — and losers — heading into the fourth month of 2021. The top three performing Dow Jones stocks through March were<b>Walgreens Boots Alliance</b>(WBA),<b>Intel</b>(INTC) and<b>Caterpillar</b>(CAT) with advances of 37.7%, 28.5% and 27.4%, respectively.</p><p><blockquote>进入2021年第四个月，有明显的赢家和输家。截至3月份表现最好的三只道琼斯股票是<b>沃尔格林靴子联盟</b>（WBA），<b>英特尔</b>(INTC)和<b>毛虫</b>（卡特彼勒）分别增长37.7%、28.5%和27.4%。</blockquote></p><p>The three biggest Dow Jones losers through March 2021 were<b>Apple</b>(AAPL),<b>Nike</b>(NKE) and<b>Walmart</b>(WMT) with declines of 7.9%, 6.1% and 5.8%, respectively.</p><p><blockquote>截至2021年3月，道琼斯指数跌幅最大的三只股票是<b>苹果</b>（苹果公司），<b>耐克</b>（NKE）和<b>沃尔玛</b>(WMT)分别下降7.9%、6.1%和5.8%。</blockquote></p><p>Amid the current stock market rally, the tech-heavy Nasdaq ended March up 2.8%. The S&amp;P 500 was up 5.8%, while the DJIA was up 7.8% through March 31.</p><p><blockquote>在当前股市上涨的背景下，以科技股为主的纳斯达克3月底上涨2.8%。截至3月31日，标普500上涨5.8%，道琼斯上涨7.8%。</blockquote></p><p>What Is The Dow Jones Industrial Average?</p><p><blockquote>什么是道琼斯工业平均指数？</blockquote></p><p>Founded in 1896 with 12 stocks, theDow Jones Industrial Averageis one of the oldest stock market indexes. There are 30 Dow Jones stocks designed to serve as a bellwether for the general U.S. stock market. Other major stock indexes include the technology-heavy Nasdaq composite and the S&amp;P 500 index — an index of the 500 largest companies in the United States.</p><p><blockquote>道琼斯工业平均指数成立于1896年，共有12只股票，是最古老的股市指数之一。道琼斯指数共有30只股票，旨在成为美国股市整体的风向标。其他主要股指包括以科技股为主的纳斯达克综合指数和标普500指数——美国500家最大公司的指数。</blockquote></p><p>Best Dow Jones Stocks To Buy And Watch</p><p><blockquote>最值得购买和关注的道琼斯股票</blockquote></p><p><table><thead><tr><th>Company Name</th><th>Symbol</th><th>Closing Price</th><th>2021 YTD Performance</th></tr></thead><tbody><tr><td>Apple</td><td>(AAPL)</td><td>122.15</td><td>-7.9%</td></tr><tr><td>Boeing</td><td>(BA)</td><td>254.72</td><td>+19.0%</td></tr><tr><td>Disney</td><td>(DIS)</td><td>184.52</td><td>+1.8%</td></tr><tr><td>Microsoft</td><td>(MSFT)</td><td>235.77</td><td>+6.0%</td></tr><tr><td>Salesforce.com</td><td>(CRM)</td><td>211.87</td><td>-4.8%</td></tr><tr><td>Visa</td><td>(V)</td><td>211.73</td><td>-3.2%</td></tr></tbody></table>Source: IBD Data As Of Feb. 26, 2021</p><p><blockquote><table><thead><tr><th>公司名称</th><th>象征</th><th>收盘价</th><th>2021年初至今业绩</th></tr></thead><tbody><tr><td>苹果</td><td>(AAPL)</td><td>122.15</td><td>-7.9%</td></tr><tr><td>波音公司</td><td>（BA）</td><td>254.72</td><td>+19.0%</td></tr><tr><td>迪斯尼</td><td>（DIS）</td><td>184.52</td><td>+1.8%</td></tr><tr><td>微软</td><td>（MSFT）</td><td>235.77</td><td>+6.0%</td></tr><tr><td>Salesforce.com</td><td>(CRM)</td><td>211.87</td><td>-4.8%</td></tr><tr><td>签证</td><td>(V)</td><td>211.73</td><td>-3.2%</td></tr></tbody></table>资料来源：IBD数据截至2021年2月26日</blockquote></p><p>Amid the current stock market rally — according to theIBD Big Picture— investors should focus on buying top stocks breaking out past correct buy points.</p><p><blockquote>根据IBD大局，在当前股市上涨的情况下，投资者应重点购买突破正确买入点的顶级股票。</blockquote></p><p>Focus on stocks that show&nbsp;strong relative strengthduring the recent stock market weakness. They could be some of market's leaders if the indexes are able to continue their rebound.</p><p><blockquote>重点关注在近期股市疲软期间表现出较强相对强势的股票。如果指数能够继续反弹，他们可能会成为市场的领头羊。</blockquote></p><p>Potential Dow Jones stocks to buy and watch in April 2021 that are in or near buy zones include Apple, Boeing, Disney and Microsoft.</p><p><blockquote>2021年4月处于或接近买入区的潜在道琼斯股票包括苹果、波音、迪斯尼和微软。</blockquote></p><p>Apple Stock</p><p><blockquote>苹果股票</blockquote></p><p>Among the top&nbsp;Dow Jones stocks, Apple rose 0.25% Tuesday. Apple stock is below its 10-week line and is about 17% off its 52-week high. A strong rebound back above the 10-week level would be bullish for the stock's prospects.</p><p><blockquote>在道琼斯顶级股票中，苹果周二上涨0.25%。苹果股价低于10周线，较52周高点下跌约17%。强劲反弹至10周水平上方将利好该股前景。</blockquote></p><p>On Feb. 18, the stock triggered the 7%-8% loss-cutting sell rule when it fell more than 7% below its 138.89 buy point in a cup with handle.</p><p><blockquote>2月18日，当该股跌破138.89买入点超过7%时，触发了7%-8%的止损卖出规则。</blockquote></p><p>According to theIBD Stock Checkup,Apple stock showsa 67 out of a best-possible 99 IBD Composite Rating. TheComposite Rating&nbsp;— an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock's strengths.</p><p><blockquote>根据IBD股票检查，苹果股票的IBD综合评级为67分（满分99分）。综合评级是识别顶级成长型股票的简单方法，它融合了关键的基本面和技术指标，可帮助投资者衡量股票的优势。</blockquote></p><p>Boeing Stock</p><p><blockquote>波音股票</blockquote></p><p>Airplane maker Boeing is back in buy range above a 244.18 buy point in a cup base, according toIBD MarketSmithchart analysis. The 5% buy range goes up to 256.39.</p><p><blockquote>根据IBD MarketSmithChart分析，飞机制造商波音公司回到了杯底244.18买入点上方的买入区间。5%买入区间升至256.39。</blockquote></p><p>Shares fell 1.6% Tuesday.</p><p><blockquote>周二股价下跌1.6%。</blockquote></p><p>Disney Stock</p><p><blockquote>迪士尼股票</blockquote></p><p>Disney stock is in the buy range past a 183.50buy pointin aflat base, according to&nbsp;IBD MarketSmithchart analysis. The 5% buy area goes up to 192.68.</p><p><blockquote>根据IBD MarketSmithchart分析，迪士尼股票处于买入区间，超过183.50买入点。5%买入区域升至192.68。</blockquote></p><p>Disney stock moved up 0.65% Tuesday.</p><p><blockquote>迪士尼股价周二上涨0.65%。</blockquote></p><p>Microsoft Stock</p><p><blockquote>微软股票</blockquote></p><p>Software giant Microsoft was down 0.5% Tuesday. Shares of the Dow Jones leader are breaking out above a 246.23 buy point in a new flat base.</p><p><blockquote>软件巨头微软周二下跌0.5%。道琼斯指数领头羊的股价在新的持平基础上突破246.23买入点。</blockquote></p><p>Microsoft is anIBD Leaderboardstock. Per Leaderboard commentary, \"Microsoft is now forming a flat base, even as it trades just above an earlier 232.96 buy point. It's still above an early entry of 228.22.\"</p><p><blockquote>微软是IBD排行榜股票。根据排行榜评论，“微软现在正在形成一个平坦的基础，尽管它的交易价格略高于早些时候的232.96买入点。它仍然高于228.22的早期入场点。”</blockquote></p><p><b>Tip:</b>&nbsp;Before making any investment decisions, be sure to check&nbsp;current market conditions, and use&nbsp;IBD Stock Checkup&nbsp;to see if your stock gets passing ratings for the most important fundamental and technical criteria. To get&nbsp;ongoing chart analysis, and alerts to buy and sell signals, check out the unique features, stock lists and chart annotations at&nbsp;MarketSmith,&nbsp;Leaderboard&nbsp;and&nbsp;SwingTrader.</p><p><blockquote><b>提示：</b>在做出任何投资决定之前，请务必检查当前的市场状况，并使用IBD股票检查来查看您的股票是否在最重要的基本面和技术标准方面获得通过评级。要获得持续的图表分析以及买卖信号警报，请查看MarketSmith、Leaderboard和SwingTrader的独特功能、股票列表和图表注释。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/research/dow-jones-stocks/?src=A00220\">investors</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":{"DIS":"迪士尼","CRM":"赛富时","AAPL":"苹果","V":"Visa","BA":"波音","MSFT":"微软"},"source_url":"https://www.investors.com/research/dow-jones-stocks/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180267411","content_text":"TheDow Jones Industrial Averageremain near record highs at the end of March, as the current stock market rally continues. The best Dow Jones stocks to buy and watch in April 2021 areApple(AAPL),Boeing(BA),Disney(DIS) andMicrosoft(MSFT).key action. We're going to break down for you this week as wellVolume 0%There are clear winners — and losers — heading into the fourth month of 2021. The top three performing Dow Jones stocks through March wereWalgreens Boots Alliance(WBA),Intel(INTC) andCaterpillar(CAT) with advances of 37.7%, 28.5% and 27.4%, respectively.The three biggest Dow Jones losers through March 2021 wereApple(AAPL),Nike(NKE) andWalmart(WMT) with declines of 7.9%, 6.1% and 5.8%, respectively.Amid the current stock market rally, the tech-heavy Nasdaq ended March up 2.8%. The S&P 500 was up 5.8%, while the DJIA was up 7.8% through March 31.What Is The Dow Jones Industrial Average?Founded in 1896 with 12 stocks, theDow Jones Industrial Averageis one of the oldest stock market indexes. There are 30 Dow Jones stocks designed to serve as a bellwether for the general U.S. stock market. Other major stock indexes include the technology-heavy Nasdaq composite and the S&P 500 index — an index of the 500 largest companies in the United States.Best Dow Jones Stocks To Buy And WatchCompany NameSymbolClosing Price2021 YTD PerformanceApple(AAPL)122.15-7.9%Boeing(BA)254.72+19.0%Disney(DIS)184.52+1.8%Microsoft(MSFT)235.77+6.0%Salesforce.com(CRM)211.87-4.8%Visa(V)211.73-3.2%Source: IBD Data As Of Feb. 26, 2021Amid the current stock market rally — according to theIBD Big Picture— investors should focus on buying top stocks breaking out past correct buy points.Focus on stocks that show strong relative strengthduring the recent stock market weakness. They could be some of market's leaders if the indexes are able to continue their rebound.Potential Dow Jones stocks to buy and watch in April 2021 that are in or near buy zones include Apple, Boeing, Disney and Microsoft.Apple StockAmong the top Dow Jones stocks, Apple rose 0.25% Tuesday. Apple stock is below its 10-week line and is about 17% off its 52-week high. A strong rebound back above the 10-week level would be bullish for the stock's prospects.On Feb. 18, the stock triggered the 7%-8% loss-cutting sell rule when it fell more than 7% below its 138.89 buy point in a cup with handle.According to theIBD Stock Checkup,Apple stock showsa 67 out of a best-possible 99 IBD Composite Rating. TheComposite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock's strengths.Boeing StockAirplane maker Boeing is back in buy range above a 244.18 buy point in a cup base, according toIBD MarketSmithchart analysis. The 5% buy range goes up to 256.39.Shares fell 1.6% Tuesday.Disney StockDisney stock is in the buy range past a 183.50buy pointin aflat base, according to IBD MarketSmithchart analysis. The 5% buy area goes up to 192.68.Disney stock moved up 0.65% Tuesday.Microsoft StockSoftware giant Microsoft was down 0.5% Tuesday. Shares of the Dow Jones leader are breaking out above a 246.23 buy point in a new flat base.Microsoft is anIBD Leaderboardstock. Per Leaderboard commentary, \"Microsoft is now forming a flat base, even as it trades just above an earlier 232.96 buy point. It's still above an early entry of 228.22.\"Tip: Before making any investment decisions, be sure to check current market conditions, and use IBD Stock Checkup to see if your stock gets passing ratings for the most important fundamental and technical criteria. To get ongoing chart analysis, and alerts to buy and sell signals, check out the unique features, stock lists and chart annotations at MarketSmith, Leaderboard and SwingTrader.","news_type":1,"symbols_score_info":{"BA":0.9,"MSFT":0.9,"AAPL":0.9,"CRM":0.9,"DIS":0.9,"V":0.9}},"isVote":1,"tweetType":1,"viewCount":663,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343138643,"gmtCreate":1617686558382,"gmtModify":1634297099125,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","listText":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","text":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/343138643","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","kind":"news","pubTimestamp":1617672655,"share":"https://www.laohu8.com/m/news/1101907559?lang=zh_CN&edition=full","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能肯定地说，所谓的家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机从来都不完全一样。20世纪80年代末，美国近三分之一的储蓄和贷款协会倒闭，最终获得了约2650亿美元的纳税人救助（按2021年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄国的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运营实践如此之大，以至于美联储主席艾伦·格林斯潘说，当LTCM失败时，“他一生中从未见过任何与他所感受到的恐怖相比的事情”。LTCM被认为“太大而不能倒”，他策划了对14家美国主要金融机构的救助。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构的过度杠杆化，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行再一次被认为太大而不能倒，纳税人前来救援。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆发，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于外行人来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思：咨询公司安永估计全球约有10,000个家族理财室，但市场研究公司Campden Research的另一项估计称，管理家族理财室的规模接近6万亿美元。鉴于这6万亿美元是基于2019年的数据，现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的基金经理</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这是潜在的危险。家族理财室通常不受监管。1940年《投资顾问法》规定，拥有15名或更少客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元正在发挥作用，没有人能真正说出谁在管理这笔钱，它投资于什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大举押注某些中国股票，包括电子商务公司唯品会控股有限公司VIPS，-1.19%，在美国上市的中国家教公司跟谁学GSX，-10.63%，以及美国媒体公司维亚康姆哥伦比亚广播公司VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。最近股价暴跌，引发Archegos的大量抛售（约300亿美元）。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道Archegos与华尔街的一些大牌合作，包括瑞士信贷集团AGCS，+1.59%，瑞银集团AGUBS，+1.01%，高盛集团Inc.GS，-1.25%，摩根士丹利MS，-0.28%，德意志银行AGDB，+0.74%，野村控股公司NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但由于家族办公室在很大程度上被允许不受监管地运营，谁能说这里真正涉及多少资金以及市场风险有多大？我的同事Mark DeCambre上周报告称，Archegos对不良交易的真实敞口实际上可能接近1000亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险的危险性</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的用武之地。随着Archegos的赌注落空，上述银行考虑到自己的损失，以保证金评级打击了该公司。德意志银行迅速抛售了约40亿美元的持股，而高盛和摩根士丹利据说也已平仓，这或许限制了它们的下跌空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎不是。即便如此，美国证券交易委员会还是对Archegos及其创始人Bill Hwang展开了初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>Fundstrat Global Advisors的研究主管Tom Lee是他认识的“十大最佳投资头脑”之一的评级·黄。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012年，黄禹锡的前对冲基金老虎亚洲管理公司(Tiger Asia Management)认罪并支付了超过6000万美元的罚款，此前该公司被指控利用有关中国银行的非法线索进行交易。美国证券交易委员会禁止黄禹锡代表客户管理资金——实质上是将他踢出对冲基金行业。因此，Hwang开设了Archegos，同样，家族理财室通常不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特·耶伦的关注。她上周表示，需要加强对金融业这些私人角落的监管。她监管的金融稳定监督委员会（FSOC）重新成立了一个工作组，以帮助各机构更好地“共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯（Abe Lincoln）的话，家族办公室——一个价值数万亿美元的行业，在一个比以往任何时候都更加交织在一起的全球金融体系中，很大程度上被允许在阴影中运作——属于超级富豪，由超级富豪经营，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的倒闭可能是也可能不是另一场金融危机的开始。但谁能说其他数千家家族理财室正在用他们的数万亿美元做什么，以及类似的问题是否会爆发？</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-04-06 09:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能肯定地说，所谓的家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机从来都不完全一样。20世纪80年代末，美国近三分之一的储蓄和贷款协会倒闭，最终获得了约2650亿美元的纳税人救助（按2021年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄国的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运营实践如此之大，以至于美联储主席艾伦·格林斯潘说，当LTCM失败时，“他一生中从未见过任何与他所感受到的恐怖相比的事情”。LTCM被认为“太大而不能倒”，他策划了对14家美国主要金融机构的救助。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构的过度杠杆化，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行再一次被认为太大而不能倒，纳税人前来救援。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆发，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于外行人来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思：咨询公司安永估计全球约有10,000个家族理财室，但市场研究公司Campden Research的另一项估计称，管理家族理财室的规模接近6万亿美元。鉴于这6万亿美元是基于2019年的数据，现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的基金经理</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这是潜在的危险。家族理财室通常不受监管。1940年《投资顾问法》规定，拥有15名或更少客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元正在发挥作用，没有人能真正说出谁在管理这笔钱，它投资于什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大举押注某些中国股票，包括电子商务公司唯品会控股有限公司VIPS，-1.19%，在美国上市的中国家教公司跟谁学GSX，-10.63%，以及美国媒体公司维亚康姆哥伦比亚广播公司VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。最近股价暴跌，引发Archegos的大量抛售（约300亿美元）。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道Archegos与华尔街的一些大牌合作，包括瑞士信贷集团AGCS，+1.59%，瑞银集团AGUBS，+1.01%，高盛集团Inc.GS，-1.25%，摩根士丹利MS，-0.28%，德意志银行AGDB，+0.74%，野村控股公司NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但由于家族办公室在很大程度上被允许不受监管地运营，谁能说这里真正涉及多少资金以及市场风险有多大？我的同事Mark DeCambre上周报告称，Archegos对不良交易的真实敞口实际上可能接近1000亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险的危险性</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的用武之地。随着Archegos的赌注落空，上述银行考虑到自己的损失，以保证金评级打击了该公司。德意志银行迅速抛售了约40亿美元的持股，而高盛和摩根士丹利据说也已平仓，这或许限制了它们的下跌空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎不是。即便如此，美国证券交易委员会还是对Archegos及其创始人Bill Hwang展开了初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>Fundstrat Global Advisors的研究主管Tom Lee是他认识的“十大最佳投资头脑”之一的评级·黄。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012年，黄禹锡的前对冲基金老虎亚洲管理公司(Tiger Asia Management)认罪并支付了超过6000万美元的罚款，此前该公司被指控利用有关中国银行的非法线索进行交易。美国证券交易委员会禁止黄禹锡代表客户管理资金——实质上是将他踢出对冲基金行业。因此，Hwang开设了Archegos，同样，家族理财室通常不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特·耶伦的关注。她上周表示，需要加强对金融业这些私人角落的监管。她监管的金融稳定监督委员会（FSOC）重新成立了一个工作组，以帮助各机构更好地“共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯（Abe Lincoln）的话，家族办公室——一个价值数万亿美元的行业，在一个比以往任何时候都更加交织在一起的全球金融体系中，很大程度上被允许在阴影中运作——属于超级富豪，由超级富豪经营，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的倒闭可能是也可能不是另一场金融危机的开始。但谁能说其他数千家家族理财室正在用他们的数万亿美元做什么，以及类似的问题是否会爆发？</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354986558,"gmtCreate":1617118806474,"gmtModify":1634522542210,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Everyone is hedging on BTC?","listText":"Everyone is hedging on BTC?","text":"Everyone is hedging on BTC?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354986558","repostId":"1130322587","repostType":4,"repost":{"id":"1130322587","kind":"news","pubTimestamp":1617117829,"share":"https://www.laohu8.com/m/news/1130322587?lang=zh_CN&edition=full","pubTime":"2021-03-30 23:23","market":"fut","language":"en","title":"Gold falls below the $1,700 benchmark<blockquote>金价跌破1700美元关口</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130322587","media":"seekingalpha","summary":"Gold continues to drop in Tuesday's trading, falling below the $1,700 watermark -1.53%. Gold is down","content":"<p>Gold continues to drop in Tuesday's trading, falling below the $1,700 watermark&nbsp;-1.53%. Gold is down&nbsp;-11.72%&nbsp;YTD and&nbsp;-18.51%&nbsp;since early August of 2020.</p><p><blockquote>黄金在周二的交易中继续下跌，跌破1700美元关口-1.53%。黄金年初至今下跌-11.72%，自2020年8月初以来下跌-18.51%。</blockquote></p><p>Interestingly enough, bitcoin (BTC-USD), on the other hand, is&nbsp;+1.50%&nbsp;on the day and is&nbsp;+102.88%&nbsp;YTD. Some investors see the digital currency stealing market share from gold as investors have chosen the cryptocurrency over gold of late.</p><p><blockquote>有趣的是，另一方面，比特币（BTC-USD）当天上涨1.50%，年初至今上涨102.88%。一些投资者认为数字货币正在抢走黄金的市场份额，因为投资者最近选择了加密货币而不是黄金。</blockquote></p><p>This inverse relationship between gold and bitcoin is not a first-time offense. Dating back to the fourth quarter of 2017, bitcoin ran up over&nbsp;300.00%&nbsp;to its then all-time high of $19,458 back on December 18th. During that time, investors saw gold slide over&nbsp;-7.00%&nbsp;to the downside.</p><p><blockquote>黄金和比特币之间的这种反比关系并不是第一次。追溯到2017年第四季度，比特币股价上涨超过300.00%，至12月18日的历史高点19,458美元。在此期间，投资者看到黄金下跌超过-7.00%。</blockquote></p><p>While it's possible that bitcoin may be stealing a portion of gold's market share, there are still other significant factors at play. The fact that the&nbsp;vaccine rollout continues to strengthen and virus impacts subside doesn't play well for the haven asset.</p><p><blockquote>虽然比特币可能会窃取部分黄金市场份额，但仍有其他重要因素在起作用。事实上，疫苗的推出继续加强，病毒的影响消退，这对避风港资产来说并不好。</blockquote></p><p>Below is a YTD chart of the performance on gold and bitcoin.</p><p><blockquote>以下是年初至今黄金和比特币表现图表。</blockquote></p><p><img src=\"https://static.tigerbbs.com/a204efa6aa1c1a89a34f9ff928318c57\" tg-width=\"624\" tg-height=\"321\" referrerpolicy=\"no-referrer\">For investors looking to learn more about the value of gold, here are a few exchange traded funds worth examining: SPDR Gold Trust ETF(NYSEARCA:GLD), VanEck Vectors Gold Miners ETF(NYSEARCA:GDX), Aberdeen Standard Physical Gold Shares ETF(NYSEARCA:SGOL), and iShares Gold Trust ETF(NYSEARCA:IAU).</p><p><blockquote>对于希望了解更多黄金价值的投资者来说，这里有一些值得研究的交易所交易基金：SPDR Gold Trust ETF(NYSEARCA：GLD)、VanEck Vectors Gold Miners ETF(NYSEARCA：GDX)、Aberdeen Standard Physical Gold Shares ETF(NYSEARCA：SGOL)和iShares Gold Trust ETF(NYSEARCA：IAU)。</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>Gold falls below the $1,700 benchmark<blockquote>金价跌破1700美元关口</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\">\nGold falls below the $1,700 benchmark<blockquote>金价跌破1700美元关口</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-03-30 23:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Gold continues to drop in Tuesday's trading, falling below the $1,700 watermark&nbsp;-1.53%. Gold is down&nbsp;-11.72%&nbsp;YTD and&nbsp;-18.51%&nbsp;since early August of 2020.</p><p><blockquote>黄金在周二的交易中继续下跌，跌破1700美元关口-1.53%。黄金年初至今下跌-11.72%，自2020年8月初以来下跌-18.51%。</blockquote></p><p>Interestingly enough, bitcoin (BTC-USD), on the other hand, is&nbsp;+1.50%&nbsp;on the day and is&nbsp;+102.88%&nbsp;YTD. Some investors see the digital currency stealing market share from gold as investors have chosen the cryptocurrency over gold of late.</p><p><blockquote>有趣的是，另一方面，比特币（BTC-USD）当天上涨1.50%，年初至今上涨102.88%。一些投资者认为数字货币正在抢走黄金的市场份额，因为投资者最近选择了加密货币而不是黄金。</blockquote></p><p>This inverse relationship between gold and bitcoin is not a first-time offense. Dating back to the fourth quarter of 2017, bitcoin ran up over&nbsp;300.00%&nbsp;to its then all-time high of $19,458 back on December 18th. During that time, investors saw gold slide over&nbsp;-7.00%&nbsp;to the downside.</p><p><blockquote>黄金和比特币之间的这种反比关系并不是第一次。追溯到2017年第四季度，比特币股价上涨超过300.00%，至12月18日的历史高点19,458美元。在此期间，投资者看到黄金下跌超过-7.00%。</blockquote></p><p>While it's possible that bitcoin may be stealing a portion of gold's market share, there are still other significant factors at play. The fact that the&nbsp;vaccine rollout continues to strengthen and virus impacts subside doesn't play well for the haven asset.</p><p><blockquote>虽然比特币可能会窃取部分黄金市场份额，但仍有其他重要因素在起作用。事实上，疫苗的推出继续加强，病毒的影响消退，这对避风港资产来说并不好。</blockquote></p><p>Below is a YTD chart of the performance on gold and bitcoin.</p><p><blockquote>以下是年初至今黄金和比特币表现图表。</blockquote></p><p><img src=\"https://static.tigerbbs.com/a204efa6aa1c1a89a34f9ff928318c57\" tg-width=\"624\" tg-height=\"321\" referrerpolicy=\"no-referrer\">For investors looking to learn more about the value of gold, here are a few exchange traded funds worth examining: SPDR Gold Trust ETF(NYSEARCA:GLD), VanEck Vectors Gold Miners ETF(NYSEARCA:GDX), Aberdeen Standard Physical Gold Shares ETF(NYSEARCA:SGOL), and iShares Gold Trust ETF(NYSEARCA:IAU).</p><p><blockquote>对于希望了解更多黄金价值的投资者来说，这里有一些值得研究的交易所交易基金：SPDR Gold Trust ETF(NYSEARCA：GLD)、VanEck Vectors Gold Miners ETF(NYSEARCA：GDX)、Aberdeen Standard Physical Gold Shares ETF(NYSEARCA：SGOL)和iShares Gold Trust ETF(NYSEARCA：IAU)。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3677654-gold-falls-below-the-1700-benchmark\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4be30a3c11bd91e9d1f864c6a098fab1","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3677654-gold-falls-below-the-1700-benchmark","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130322587","content_text":"Gold continues to drop in Tuesday's trading, falling below the $1,700 watermark -1.53%. Gold is down -11.72% YTD and -18.51% since early August of 2020.Interestingly enough, bitcoin (BTC-USD), on the other hand, is +1.50% on the day and is +102.88% YTD. Some investors see the digital currency stealing market share from gold as investors have chosen the cryptocurrency over gold of late.This inverse relationship between gold and bitcoin is not a first-time offense. Dating back to the fourth quarter of 2017, bitcoin ran up over 300.00% to its then all-time high of $19,458 back on December 18th. During that time, investors saw gold slide over -7.00% to the downside.While it's possible that bitcoin may be stealing a portion of gold's market share, there are still other significant factors at play. The fact that the vaccine rollout continues to strengthen and virus impacts subside doesn't play well for the haven asset.Below is a YTD chart of the performance on gold and bitcoin.For investors looking to learn more about the value of gold, here are a few exchange traded funds worth examining: SPDR Gold Trust ETF(NYSEARCA:GLD), VanEck Vectors Gold Miners ETF(NYSEARCA:GDX), Aberdeen Standard Physical Gold Shares ETF(NYSEARCA:SGOL), and iShares Gold Trust ETF(NYSEARCA:IAU).","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355386243,"gmtCreate":1617028731682,"gmtModify":1634523031127,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Time to buy some Bank stocks! Pls like or comment 😃","listText":"Time to buy some Bank stocks! Pls like or comment 😃","text":"Time to buy some Bank stocks! Pls like or comment 😃","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/355386243","repostId":"1180199356","repostType":4,"isVote":1,"tweetType":1,"viewCount":713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355028116,"gmtCreate":1617016657435,"gmtModify":1634523128862,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Nutters","listText":"Nutters","text":"Nutters","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355028116","repostId":"1149839668","repostType":4,"repost":{"id":"1149839668","kind":"news","pubTimestamp":1617002672,"share":"https://www.laohu8.com/m/news/1149839668?lang=zh_CN&edition=full","pubTime":"2021-03-29 15:24","market":"us","language":"en","title":"Large block trades tied to Archegos raise worries about trading this week<blockquote>与Archegos相关的大宗交易引发了人们对本周交易的担忧</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149839668","media":"Reuters","summary":"(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the s","content":"<p>(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the stocks of a clutch of companies, were linked to the Archegos Capital investment fund, a source familiar with the situation said, with the moves raising worries about volatile trading in the coming days.</p><p><blockquote>（路透社）-一位知情人士称，周五的一些大宗交易与Archegos Capital investment fund有关，投资者称这些交易导致一些公司的股票大幅下跌，这些交易引发了人们对未来几天交易波动的担忧。</blockquote></p><p>Shares in ViacomCBS and Discovery tumbled around 27% each on Friday, while U.S.-listed shares of China-based Baidu and Tencent Music plunged during the week, dropping as much as 33.5% and 48.5%, respectively, from Tuesday’s closing levels. Baidu was trading slightly lower in Hong Kong at the open.</p><p><blockquote>维亚康姆哥伦比亚广播公司(ViacomCBS)和探索频道(Discovery)的股价周五分别下跌约27%，而在美国上市的百度和腾讯控股音乐(China Music)的股价本周暴跌，较周二收盘水平分别下跌33.5%和48.5%。百度股市开盘小幅走低。</blockquote></p><p>Investors and analysts cited blocks of Viacom and Discovery shares being put in the market on Friday for likely exacerbating the decline in those stocks. Viacom was also downgraded by Wells Fargo on Friday.</p><p><blockquote>投资者和分析师指出，周五大量维亚康姆和Discovery股票上市可能会加剧这些股票的下跌。维亚康姆周五也被富国银行下调了评级。</blockquote></p><p>The block trades were linked to sales of holdings by Archegos, a source familiar with the situation said, confirming reports elsewhere. CNBC reportedhereon Saturday that the selling pressure was due to liquidation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation. The link with Archegos was also earlier reported by IPO Edgehere.</p><p><blockquote>一位知情人士称，大宗交易与Archegos出售持股有关，这证实了其他地方的报道。CNBC周六援引一位直接了解情况的消息人士的话报道称，抛售压力是由于家族办公室Archegos Capital Management平仓造成的。IPO Edgehere早些时候也报道了与Archegos的联系。</blockquote></p><p>A person at Archegos who answered the phone on Saturday declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia from 2001 to 2012, when he renamed it Archegos Capital and made it a family office, according to a page capturehereof the fund's website. Tiger Asia was a Hong Kong-based fundherethat sought to profit on bets on securities in Asia.</p><p><blockquote>周六接电话的Archegos一位人士拒绝置评。根据该基金网站的页面截图，Archegos由Bill Hwang创立，他在2001年至2012年期间创立并经营Tiger Asia，后来将其更名为Archegos Capital，并将其定为家族办公室。Tiger Asia是一家总部位于香港的基金，旨在通过押注亚洲证券获利。</blockquote></p><p>Prior to starting Tiger Asia, Hwang was an equity analyst for Tiger Management according to Archegos' websitehere. Tiger Management, run by Julian Robertson, was a hugely successful hedge fund, which returned investor money and shutherein 2000.</p><p><blockquote>根据Archegos的网站here，在创办Tiger Asia之前，Hwang是Tiger Management的股票分析师。朱利安·罗伯逊(Julian Robertson)经营的老虎管理公司(Tiger Management)是一家非常成功的对冲基金，该基金于2000年返还了投资者的资金并关闭了该基金。</blockquote></p><p>Hwang in 2012 settledhereinsider trading charges by the U.S. Securities and Exchange Commission according to a press releasehereat the time. He and his firms at the time agreed to pay $44 million to settle, according to the release.</p><p><blockquote>根据当时的新闻稿，黄于2012年解决了美国证券交易委员会的内幕交易指控。据新闻稿称，他和他的公司当时同意支付4400万美元和解。</blockquote></p><p><b>VOLATILITY CONCERNS</b></p><p><blockquote><b>波动性担忧</b></blockquote></p><p>Some market participants said last week’s wild moves were likely to make investors increasingly cautious.</p><p><blockquote>一些市场人士表示，上周的疯狂举动可能会让投资者越来越谨慎。</blockquote></p><p>“It’s insane,” said Edward Moya, senior market analyst at OANDA. “When you consider how some of these companies have skyrocketed over the last few months, there will be concerns that we are over-levered.”</p><p><blockquote>“这太疯狂了，”OANDA高级市场分析师爱德华·莫亚(Edward Moya)表示。“当你考虑到其中一些公司在过去几个月里如何飙升时，就会有人担心我们杠杆率过高。”</blockquote></p><p>Other market participants said potential unwinds would only have a limited impact on broader markets. The Nasdaq Composite and S&amp;P 500 both surged over 1% on Friday despite the sharp selloffs in Viacom and other stocks.</p><p><blockquote>其他市场参与者表示，潜在的平仓对大盘的影响有限。尽管维亚康姆和其他股票大幅抛售，但纳斯达克综合指数和标普500周五均飙升超过1%。</blockquote></p><p>“These stories around fund liquidations happen from time to time,” said Michael Antonelli, market strategist at Baird. “Some of the names where big blocks were traded on Friday might see some near-term volatility as traders wonder whether the selling is complete.”</p><p><blockquote>Baird市场策略师Michael Antonelli表示：“这些围绕基金清算的故事时有发生。”“周五进行大宗交易的一些公司近期可能会出现一些波动，因为交易员想知道抛售是否完成。”</blockquote></p><p>Mike O’Rourke, chief market strategist at JonesTrading said he expected the trades to “largely be done.”</p><p><blockquote>JonesTrading首席市场策略师Mike O’Rourke表示，他预计交易“基本完成”。</blockquote></p><p>“The prime brokers made lots of noise in marketing these blocks,” O’Rourke said. “They knocked the stocks down aggressively in order to get the trades done.”</p><p><blockquote>“大宗经纪商在营销这些区块时制造了很多噪音，”奥罗克说。“为了完成交易，他们大幅压低股票。”</blockquote></p><p>O’Rourke added that prime brokers typically go long the remnants of the position, and he expected most of the names involved in the block trades to be “gapping up significantly higher” in premarket trading.</p><p><blockquote>奥罗克补充说，大宗经纪商通常会做多剩余头寸，他预计大多数参与大宗交易的股票在盘前交易中“跳空大幅走高”。</blockquote></p><p>In more potentially unnerving news for investors, Japan’s Nomura Holdings Inc on Monday flagged a potential $2 billion loss at a U.S. subsidiary although traders were not clear whether it was related to Archegos.</p><p><blockquote>对于投资者来说，更可能令人不安的消息是，日本野村控股公司周一表示，一家美国子公司可能亏损20亿美元，尽管交易员不清楚这是否与Archegos有关。</blockquote></p><p><b>BANKS INVOLVED</b></p><p><blockquote><b>涉及银行</b></blockquote></p><p>A number of banks were involved in the block sales. A source familiar with the matter said on Saturday that Goldman Sachs Group Inc was involved in the large blocktrades. The Financial Times reported that Morgan Stanley sold $4billion worth of shares early on Friday, followed by another$4 billion in the afternoon.</p><p><blockquote>多家银行参与了大宗销售。一位知情人士周六表示，高盛集团参与了大宗交易。英国《金融时报》报道称，摩根士丹利周五早些时候出售了价值40亿美元的股票，随后下午又出售了40亿美元。</blockquote></p><p>A source familiar with the matter said Deutsche Bank was involved with the block trades as well. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion worth of stocks in the block trades. An email to clients seen by Bloomberg Newsbloom.bg/3lYOrZmsaid Goldman sold$6.6 billion worth of shares of Baidu Inc , Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloomberg report on Saturday said. Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc, according to the report.</p><p><blockquote>一位知情人士称，德意志银行也参与了大宗交易。彭博社和英国《金融时报》周六报道称，高盛在大宗交易中清算了价值超过100亿美元的股票。彭博社周六的报道称，彭博社看到的一封致客户的电子邮件bloom.bg/3lyOrzm称，高盛在周五美国市场开盘前出售了百度公司、腾讯控股音乐娱乐集团和唯品会控股有限公司价值66亿美元的股票。报告称，此后，高盛出售了inViacomCBS Inc、Discovery Inc、Farfetch Ltd、爱奇艺Inc和跟谁学公司价值39亿美元的股票。</blockquote></p><p>Reporting by Megan Davies, Ira Iosebashvili and Kenneth Li in New York, additional reporting by Juby Babu in Bengaluru; Editing by Paul Simao and Jane Wardell</p><p><blockquote>Megan Davies、Ira Iosebashvili和Kenneth Li在纽约的报道，Juby Babu在本加卢鲁的补充报道；保罗·西芒和简·沃德尔编辑</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>Large block trades tied to Archegos raise worries about trading this week<blockquote>与Archegos相关的大宗交易引发了人们对本周交易的担忧</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\">\nLarge block trades tied to Archegos raise worries about trading this week<blockquote>与Archegos相关的大宗交易引发了人们对本周交易的担忧</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-03-29 15:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the stocks of a clutch of companies, were linked to the Archegos Capital investment fund, a source familiar with the situation said, with the moves raising worries about volatile trading in the coming days.</p><p><blockquote>（路透社）-一位知情人士称，周五的一些大宗交易与Archegos Capital investment fund有关，投资者称这些交易导致一些公司的股票大幅下跌，这些交易引发了人们对未来几天交易波动的担忧。</blockquote></p><p>Shares in ViacomCBS and Discovery tumbled around 27% each on Friday, while U.S.-listed shares of China-based Baidu and Tencent Music plunged during the week, dropping as much as 33.5% and 48.5%, respectively, from Tuesday’s closing levels. Baidu was trading slightly lower in Hong Kong at the open.</p><p><blockquote>维亚康姆哥伦比亚广播公司(ViacomCBS)和探索频道(Discovery)的股价周五分别下跌约27%，而在美国上市的百度和腾讯控股音乐(China Music)的股价本周暴跌，较周二收盘水平分别下跌33.5%和48.5%。百度股市开盘小幅走低。</blockquote></p><p>Investors and analysts cited blocks of Viacom and Discovery shares being put in the market on Friday for likely exacerbating the decline in those stocks. Viacom was also downgraded by Wells Fargo on Friday.</p><p><blockquote>投资者和分析师指出，周五大量维亚康姆和Discovery股票上市可能会加剧这些股票的下跌。维亚康姆周五也被富国银行下调了评级。</blockquote></p><p>The block trades were linked to sales of holdings by Archegos, a source familiar with the situation said, confirming reports elsewhere. CNBC reportedhereon Saturday that the selling pressure was due to liquidation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation. The link with Archegos was also earlier reported by IPO Edgehere.</p><p><blockquote>一位知情人士称，大宗交易与Archegos出售持股有关，这证实了其他地方的报道。CNBC周六援引一位直接了解情况的消息人士的话报道称，抛售压力是由于家族办公室Archegos Capital Management平仓造成的。IPO Edgehere早些时候也报道了与Archegos的联系。</blockquote></p><p>A person at Archegos who answered the phone on Saturday declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia from 2001 to 2012, when he renamed it Archegos Capital and made it a family office, according to a page capturehereof the fund's website. Tiger Asia was a Hong Kong-based fundherethat sought to profit on bets on securities in Asia.</p><p><blockquote>周六接电话的Archegos一位人士拒绝置评。根据该基金网站的页面截图，Archegos由Bill Hwang创立，他在2001年至2012年期间创立并经营Tiger Asia，后来将其更名为Archegos Capital，并将其定为家族办公室。Tiger Asia是一家总部位于香港的基金，旨在通过押注亚洲证券获利。</blockquote></p><p>Prior to starting Tiger Asia, Hwang was an equity analyst for Tiger Management according to Archegos' websitehere. Tiger Management, run by Julian Robertson, was a hugely successful hedge fund, which returned investor money and shutherein 2000.</p><p><blockquote>根据Archegos的网站here，在创办Tiger Asia之前，Hwang是Tiger Management的股票分析师。朱利安·罗伯逊(Julian Robertson)经营的老虎管理公司(Tiger Management)是一家非常成功的对冲基金，该基金于2000年返还了投资者的资金并关闭了该基金。</blockquote></p><p>Hwang in 2012 settledhereinsider trading charges by the U.S. Securities and Exchange Commission according to a press releasehereat the time. He and his firms at the time agreed to pay $44 million to settle, according to the release.</p><p><blockquote>根据当时的新闻稿，黄于2012年解决了美国证券交易委员会的内幕交易指控。据新闻稿称，他和他的公司当时同意支付4400万美元和解。</blockquote></p><p><b>VOLATILITY CONCERNS</b></p><p><blockquote><b>波动性担忧</b></blockquote></p><p>Some market participants said last week’s wild moves were likely to make investors increasingly cautious.</p><p><blockquote>一些市场人士表示，上周的疯狂举动可能会让投资者越来越谨慎。</blockquote></p><p>“It’s insane,” said Edward Moya, senior market analyst at OANDA. “When you consider how some of these companies have skyrocketed over the last few months, there will be concerns that we are over-levered.”</p><p><blockquote>“这太疯狂了，”OANDA高级市场分析师爱德华·莫亚(Edward Moya)表示。“当你考虑到其中一些公司在过去几个月里如何飙升时，就会有人担心我们杠杆率过高。”</blockquote></p><p>Other market participants said potential unwinds would only have a limited impact on broader markets. The Nasdaq Composite and S&amp;P 500 both surged over 1% on Friday despite the sharp selloffs in Viacom and other stocks.</p><p><blockquote>其他市场参与者表示，潜在的平仓对大盘的影响有限。尽管维亚康姆和其他股票大幅抛售，但纳斯达克综合指数和标普500周五均飙升超过1%。</blockquote></p><p>“These stories around fund liquidations happen from time to time,” said Michael Antonelli, market strategist at Baird. “Some of the names where big blocks were traded on Friday might see some near-term volatility as traders wonder whether the selling is complete.”</p><p><blockquote>Baird市场策略师Michael Antonelli表示：“这些围绕基金清算的故事时有发生。”“周五进行大宗交易的一些公司近期可能会出现一些波动，因为交易员想知道抛售是否完成。”</blockquote></p><p>Mike O’Rourke, chief market strategist at JonesTrading said he expected the trades to “largely be done.”</p><p><blockquote>JonesTrading首席市场策略师Mike O’Rourke表示，他预计交易“基本完成”。</blockquote></p><p>“The prime brokers made lots of noise in marketing these blocks,” O’Rourke said. “They knocked the stocks down aggressively in order to get the trades done.”</p><p><blockquote>“大宗经纪商在营销这些区块时制造了很多噪音，”奥罗克说。“为了完成交易，他们大幅压低股票。”</blockquote></p><p>O’Rourke added that prime brokers typically go long the remnants of the position, and he expected most of the names involved in the block trades to be “gapping up significantly higher” in premarket trading.</p><p><blockquote>奥罗克补充说，大宗经纪商通常会做多剩余头寸，他预计大多数参与大宗交易的股票在盘前交易中“跳空大幅走高”。</blockquote></p><p>In more potentially unnerving news for investors, Japan’s Nomura Holdings Inc on Monday flagged a potential $2 billion loss at a U.S. subsidiary although traders were not clear whether it was related to Archegos.</p><p><blockquote>对于投资者来说，更可能令人不安的消息是，日本野村控股公司周一表示，一家美国子公司可能亏损20亿美元，尽管交易员不清楚这是否与Archegos有关。</blockquote></p><p><b>BANKS INVOLVED</b></p><p><blockquote><b>涉及银行</b></blockquote></p><p>A number of banks were involved in the block sales. A source familiar with the matter said on Saturday that Goldman Sachs Group Inc was involved in the large blocktrades. The Financial Times reported that Morgan Stanley sold $4billion worth of shares early on Friday, followed by another$4 billion in the afternoon.</p><p><blockquote>多家银行参与了大宗销售。一位知情人士周六表示，高盛集团参与了大宗交易。英国《金融时报》报道称，摩根士丹利周五早些时候出售了价值40亿美元的股票，随后下午又出售了40亿美元。</blockquote></p><p>A source familiar with the matter said Deutsche Bank was involved with the block trades as well. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion worth of stocks in the block trades. An email to clients seen by Bloomberg Newsbloom.bg/3lYOrZmsaid Goldman sold$6.6 billion worth of shares of Baidu Inc , Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloomberg report on Saturday said. Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc, according to the report.</p><p><blockquote>一位知情人士称，德意志银行也参与了大宗交易。彭博社和英国《金融时报》周六报道称，高盛在大宗交易中清算了价值超过100亿美元的股票。彭博社周六的报道称，彭博社看到的一封致客户的电子邮件bloom.bg/3lyOrzm称，高盛在周五美国市场开盘前出售了百度公司、腾讯控股音乐娱乐集团和唯品会控股有限公司价值66亿美元的股票。报告称，此后，高盛出售了inViacomCBS Inc、Discovery Inc、Farfetch Ltd、爱奇艺Inc和跟谁学公司价值39亿美元的股票。</blockquote></p><p>Reporting by Megan Davies, Ira Iosebashvili and Kenneth Li in New York, additional reporting by Juby Babu in Bengaluru; Editing by Paul Simao and Jane Wardell</p><p><blockquote>Megan Davies、Ira Iosebashvili和Kenneth Li在纽约的报道，Juby Babu在本加卢鲁的补充报道；保罗·西芒和简·沃德尔编辑</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/us-usa-markets-blocktrades/banks-warn-on-losses-after-archegos-capital-stock-unwind-idUSKBN2BK0OR\">Reuters</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":"https://static.tigerbbs.com/9fa7c522340c9f1e78e78f0c1543440e","relate_stocks":{},"source_url":"https://www.reuters.com/article/us-usa-markets-blocktrades/banks-warn-on-losses-after-archegos-capital-stock-unwind-idUSKBN2BK0OR","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149839668","content_text":"(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the stocks of a clutch of companies, were linked to the Archegos Capital investment fund, a source familiar with the situation said, with the moves raising worries about volatile trading in the coming days.Shares in ViacomCBS and Discovery tumbled around 27% each on Friday, while U.S.-listed shares of China-based Baidu and Tencent Music plunged during the week, dropping as much as 33.5% and 48.5%, respectively, from Tuesday’s closing levels. Baidu was trading slightly lower in Hong Kong at the open.Investors and analysts cited blocks of Viacom and Discovery shares being put in the market on Friday for likely exacerbating the decline in those stocks. Viacom was also downgraded by Wells Fargo on Friday.The block trades were linked to sales of holdings by Archegos, a source familiar with the situation said, confirming reports elsewhere. CNBC reportedhereon Saturday that the selling pressure was due to liquidation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation. The link with Archegos was also earlier reported by IPO Edgehere.A person at Archegos who answered the phone on Saturday declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia from 2001 to 2012, when he renamed it Archegos Capital and made it a family office, according to a page capturehereof the fund's website. Tiger Asia was a Hong Kong-based fundherethat sought to profit on bets on securities in Asia.Prior to starting Tiger Asia, Hwang was an equity analyst for Tiger Management according to Archegos' websitehere. Tiger Management, run by Julian Robertson, was a hugely successful hedge fund, which returned investor money and shutherein 2000.Hwang in 2012 settledhereinsider trading charges by the U.S. Securities and Exchange Commission according to a press releasehereat the time. He and his firms at the time agreed to pay $44 million to settle, according to the release.VOLATILITY CONCERNSSome market participants said last week’s wild moves were likely to make investors increasingly cautious.“It’s insane,” said Edward Moya, senior market analyst at OANDA. “When you consider how some of these companies have skyrocketed over the last few months, there will be concerns that we are over-levered.”Other market participants said potential unwinds would only have a limited impact on broader markets. The Nasdaq Composite and S&P 500 both surged over 1% on Friday despite the sharp selloffs in Viacom and other stocks.“These stories around fund liquidations happen from time to time,” said Michael Antonelli, market strategist at Baird. “Some of the names where big blocks were traded on Friday might see some near-term volatility as traders wonder whether the selling is complete.”Mike O’Rourke, chief market strategist at JonesTrading said he expected the trades to “largely be done.”“The prime brokers made lots of noise in marketing these blocks,” O’Rourke said. “They knocked the stocks down aggressively in order to get the trades done.”O’Rourke added that prime brokers typically go long the remnants of the position, and he expected most of the names involved in the block trades to be “gapping up significantly higher” in premarket trading.In more potentially unnerving news for investors, Japan’s Nomura Holdings Inc on Monday flagged a potential $2 billion loss at a U.S. subsidiary although traders were not clear whether it was related to Archegos.BANKS INVOLVEDA number of banks were involved in the block sales. A source familiar with the matter said on Saturday that Goldman Sachs Group Inc was involved in the large blocktrades. The Financial Times reported that Morgan Stanley sold $4billion worth of shares early on Friday, followed by another$4 billion in the afternoon.A source familiar with the matter said Deutsche Bank was involved with the block trades as well. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion worth of stocks in the block trades. An email to clients seen by Bloomberg Newsbloom.bg/3lYOrZmsaid Goldman sold$6.6 billion worth of shares of Baidu Inc , Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloomberg report on Saturday said. Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc, according to the report.Reporting by Megan Davies, Ira Iosebashvili and Kenneth Li in New York, additional reporting by Juby Babu in Bengaluru; Editing by Paul Simao and Jane Wardell","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":576,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":324946549,"gmtCreate":1615956543881,"gmtModify":1703495513567,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Longing BAC","listText":"Longing BAC","text":"Longing BAC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/324946549","repostId":"1107740379","repostType":4,"repost":{"id":"1107740379","kind":"news","pubTimestamp":1615949781,"share":"https://www.laohu8.com/m/news/1107740379?lang=zh_CN&edition=full","pubTime":"2021-03-17 10:56","market":"us","language":"en","title":"5 sturdy value stocks to protect your portfolio from rising interest rates<blockquote>5只稳健的价值股票可保护您的投资组合免受利率上升的影响</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107740379","media":"MarketWatch","summary":"Johnson & Johnson, General Motors and three other companies have high intrinsic value and catalysts that bode well for a post-pandemic world.It’s hard to imagine that the benchmark Treasury bond yielding halfway between 1% and 2% would cause panic in the stock market, but that’s exactly what’s happened.U.S. Treasurys, which are used as a reference rate for all kinds of loans, stood at over 13% some 40 years ago and almost 5% in 2001.But considering where Treasurys have been lately, it’s importan","content":"<p>Johnson &amp; Johnson, General Motors and three other companies have high intrinsic value and catalysts that bode well for a post-pandemic world.</p><p><blockquote>强生、通用汽车和其他三家公司具有很高的内在价值和催化剂，这对大流行后的世界来说是个好兆头。</blockquote></p><p> It’s hard to imagine that the benchmark Treasury bond yielding halfway between 1% and 2% would cause panic in the stock market, but that’s exactly what’s happened.</p><p><blockquote>很难想象基准国债收益率介于1%至2%之间会引起股市恐慌，但事实正是如此。</blockquote></p><p> U.S. Treasurys, which are used as a reference rate for all kinds of loans, stood at over 13% some 40 years ago and almost 5% in 2001.</p><p><blockquote>美国国债被用作各种贷款的参考利率，大约40年前的利率超过13%，2001年接近5%。</blockquote></p><p> But considering where Treasurys have been lately, it’s important to remember that low and high are relative terms. As recently as last summer, 10-year Treasurys&nbsp;commanded a 0.5% rate. That means interest rates have tripled in less than a year.</p><p><blockquote>但考虑到美国国债最近的走势，重要的是要记住低点和高点是相对的。就在去年夏天，10年期美国国债的利率为0.5%。这意味着利率在不到一年的时间里增加了两倍。</blockquote></p><p> Rapid changes like that can have a real impact on your portfolio. Consider that the massive iShares Core U.S. Aggregate Bond ETF,which has $85 billion under management, has dipped 4% already this year even as the S&amp;P 500 Index&nbsp;of the largest U.S. stocks has powered 5% higher.</p><p><blockquote>像这样的快速变化会对你的投资组合产生真正的影响。考虑到管理着850亿美元的大型iShares核心美国综合债券ETF今年已下跌4%，尽管美国最大股票的标普500指数上涨了5%。</blockquote></p><p> Some analysts predict&nbsp;rates are only getting started, thanks to stimulus checks, government spending and the long-shot chance of tighter policies from the Federal Reserve later this year.</p><p><blockquote>一些分析师预测，由于刺激检查、政府支出以及美联储今年晚些时候收紧政策的可能性很大，利率才刚刚开始。</blockquote></p><p> If you want to insulate your portfolio from rising rates, here are five low-risk value stocks that could see you through any choppiness in the months ahead.</p><p><blockquote>如果您想使您的投资组合免受利率上升的影响，这里有五只低风险价值股票，可以帮助您度过未来几个月的波动。</blockquote></p><p> <b>Bank of America</b></p><p><blockquote><b>美国银行</b></blockquote></p><p> Historically, increases in interest rates mean expanding profit margins for the financial sector. And Bank of America,&nbsp;the second-largest U.S. bank by assets, has a massive scale that is sure to pay off as rates rise.</p><p><blockquote>从历史上看，加息意味着金融业利润率的扩大。美国银行是美国资产第二大银行，规模庞大，随着利率上升，肯定会得到回报。</blockquote></p><p> The stock isn’t just seeing momentum recently because of the prospect of higher rates. The shares are up almost 60% in the past 12 months since the COVID-19 lows of 2020, outperforming the S&amp;P 500 in the same period.&nbsp; It’s also riding an impressive streak of earnings reports, topping Wall Street expectations in 15 of the last 16 quarters.</p><p><blockquote>该股最近的势头不仅仅是因为利率上升的前景。自2020年COVID-19低点以来，该股在过去12个月内上涨了近60%，跑赢了同期的标普500。该公司还发布了令人印象深刻的财报，过去16个季度中有15个季度超出了华尔街的预期。</blockquote></p><p> Adding to the appeal is that at the end of 2020 iconic investor Warren Buffett and his Berkshire Hathaway&nbsp;investment company pumped more than&nbsp;$2 billioninto Bank of America’s stock to push the stake up to nearly 12% of the entire company. That puts BofA as the No. 2 position in Berkshire’s portfolio, behind&nbsp;only tech giant Apple,and giving the stock a huge vote of confidence. What’s more, Buffett &amp; Co. sought approval from the Federal Reserve to double that already massive investment, up to a total of&nbsp;24.9%&nbsp;of Bank of America’s outstanding shares.</p><p><blockquote>更有吸引力的是，2020年底，标志性投资者沃伦·巴菲特和他的伯克希尔·哈撒韦投资公司向美国银行股票注入了超过20亿美元，将其持股比例推高至整个公司的近12%。这使得美国银行在伯克希尔投资组合中排名第二，仅次于科技巨头苹果，并给该股投下了巨大的信任票。更重要的是，巴菲特公司寻求美联储的批准，将这笔已经庞大的投资增加一倍，达到美国银行流通股的24.</blockquote></p><p> Adjusted for splits, BofA stock is back to levels not seen since 2008, before the financial crisis sent shares to low single digits and resulted in a dividend reduction to just a penny per share. The combination of a rising rate environment, strong institutional buying pressure and massive scale make this stock a stable investment that investors may want to look into.</p><p><blockquote>经分拆调整后，美国银行股价已回到2008年以来的最高水平，当时金融危机导致股价跌至低个位数，并导致股息降至每股1美分。利率上升的环境、强大的机构购买压力和庞大的规模相结合，使这只股票成为投资者可能想要关注的稳定投资。</blockquote></p><p> <b>Johnson &amp; Johnson</b></p><p><blockquote><b>强生公司</b></blockquote></p><p> Another mega-cap stock that should be a familiar favorite of value investors, Johnson &amp; Johnson&nbsp;stands out because of a combination of intrinsic value and specific factors that should help it thrive despite the challenges of 2021.</p><p><blockquote>强生公司是另一只应该是价值投资者熟悉的最爱的大型股，它脱颖而出，因为其内在价值和特定因素的结合应该有助于其在2021年面临挑战的情况下蓬勃发展。</blockquote></p><p> J&amp;J is one of only&nbsp;two&nbsp;S&amp;P&nbsp;500 companies (tech giant Microsoft&nbsp;is the other) with a perfect&nbsp;AAA credit rating.&nbsp;It’s also among the 10 largest U.S. companies by market cap, boasts $25 billion in cash and tallies more than $20 billion in annual operating cash flow. When it comes to stability and tangible value on the balance sheet, it’s hard to top this health-care giant.</p><p><blockquote>J&amp;J是仅有的两家拥有完美AAA信用评级的标准普尔500公司之一（科技巨头微软是另一家）。它也是美国市值最大的10家公司之一，拥有250亿美元的现金，年度运营现金流超过200亿美元。就资产负债表的稳定性和有形价值而言，很难超越这家医疗保健巨头。</blockquote></p><p> In 2021, there are also a few factors that should help J&amp;J power even higher. While it is too big and stable to get quite the short-term momentum of a stock like Moderna&nbsp;or Novavax,J&amp;J is set to benefit from a nice tailwind thanks to the fact its own single-dose coronavirus vaccine received&nbsp;Emergency Use Authorization&nbsp;from the U.S. Food and Drug Administration in late February.</p><p><blockquote>2021年，还有一些因素应该有助于强生动力更上一层楼。虽然强生太大太稳定，无法获得Moderna或Novavax等股票的短期势头，但由于其自己的单剂量冠状病毒疫苗获得了美国的紧急使用授权，强生将受益于良好的顺风。食品药品监督管理局在二月下旬。</blockquote></p><p> Johnson &amp; Johnson has a tremendous portfolio of health-care products to fall back on beyond the vaccine, including over-the-counter medication like Tylenol and its eponymous baby-care products, prescription drugs and medical devices. If you want a “sure thing” stock in an uncertain market environment, it could be hard to find a better candidate than JNJ.</p><p><blockquote>除了疫苗之外，强生公司还拥有庞大的医疗保健产品组合，包括泰诺等非处方药及其同名婴儿护理产品、处方药和医疗设备。如果你想在不确定的市场环境中买一只“确定”的股票，可能很难找到比强生更好的候选人。</blockquote></p><p> <b>Walmart</b></p><p><blockquote><b>沃尔玛</b></blockquote></p><p> Keeping with the theme of tremendous scale, big box retailer Walmart&nbsp;is a $380 billion powerhouse that recorded more than $36 billion in operating cash flow last fiscal year. It’s up nearly 50% from its 2020 lows, outperforming the major stock market indexes in the same period, thanks in part to selling groceries and household goods that have remained in strong demand despite disruptions to other spending categories.</p><p><blockquote>与规模巨大的主题保持一致，大型零售商沃尔玛是一家价值3800亿美元的巨头，上一财年的运营现金流超过360亿美元。较2020年低点上涨近50%，跑赢同期主要股市指数，部分原因是尽管其他支出类别受到干扰，但杂货和家庭用品的销售需求仍然强劲。</blockquote></p><p></p><p> This bodes well for the stability of Walmart going forward, as these categories should remain strong for the foreseeable future. Furthermore, the pandemic forced WMT to increase its already impressive digital penetration with customers and accelerated its membership platform Walmart+. This service, at $12 a month or $98 a year, allows for free next-day shipping with no minimum orders and free-from-store delivery for orders of at least $35. There’s even a 5-cent saving on gasoline for members, making this program seem like as good of a value as WMT stock itself.</p><p><blockquote>这对沃尔玛未来的稳定性来说是个好兆头，因为这些类别在可预见的未来应该会保持强劲。此外，疫情迫使WMT提高其在客户中已经令人印象深刻的数字渗透率，并加速其会员平台Walmart+。这项服务每月12美元或每年98美元，允许第二天免费送货，没有最低订单，订单至少35美元可免费从商店送货。会员甚至可以节省5美分的汽油费用，这使得该计划看起来与WMT股票本身一样物有所值。</blockquote></p><p> The icing on the cake is an impressive track record of 48 years of consecutive dividend increase that proves Walmart isn’t just a reliable source of income but also a stock that’s committed to its shareholders. Dividends are a tangible sign of real value in a stock, as you have to have regular and material profits to back them up, and a long history of increase shows long-term value investors can depend on WMT regardless of short-term ups and downs for the U.S. economy.</p><p><blockquote>锦上添花的是连续48年股息增加的令人印象深刻的记录，这证明沃尔玛不仅是可靠的收入来源，也是一只对股东有承诺的股票。股息是股票实际价值的切实标志，因为你必须有定期和实质性的利润来支持它们，而长期的增长历史表明，无论短期涨跌如何，长期价值投资者都可以依赖WMT。美国经济。</blockquote></p><p> <b>CVS</b></p><p><blockquote><b>CVS</b></blockquote></p><p> Though you may think of CVS&nbsp;as simply a retailer of a different sort, the reality is that CVS has become much more than a drugstore in 2021. Over the past few years, an investment in acute care and vaccination services in-store has paid off big time as CVS is now a critical part of the vaccine rollout in the U.S. In fact, a recent Wall Street Journal report noted the company has delivered over&nbsp;3 million vaccines.</p><p><blockquote>尽管你可能认为CVS只是一家不同类型的零售商，但现实是，CVS在2021年已经不仅仅是一家药店了。在过去的几年里，对店内急症护理和疫苗接种服务的投资获得了巨大回报，因为CVS现在是美国疫苗推广的重要组成部分。事实上，《华尔街日报》最近的一篇报道指出，该公司已交付了超过300万支疫苗。</blockquote></p><p> That’s a short-term opportunity, to be sure. But more importantly, it has brought all those customers into its store and signed many of them up for marketing updates or its ExtraCare rewards program to keep them coming back over the long haul.</p><p><blockquote>可以肯定的是，这是一个短期机会。但更重要的是，它将所有这些顾客带到了它的商店，并为他们中的许多人注册了营销更新或ExtraCare奖励计划，以让他们长期回来。</blockquote></p><p> Speaking of the long haul, investors should not be fooled into thinking this is just a vaccine play. CVS has been shrewd in recent years, growing into a dominant provider of pharmacy benefit management solutions&nbsp; and even acquiring primary care insurance provider&nbsp;Aetna in 2018. These operations ensure CVS thrives whether individual patients come in to their brick-and-mortar stores with a prescription or not. In fact, under the Global Industry Classification Standard the stock is grouped into “health-care plans” with other stocks like Cigna&nbsp;and UnitedHealthGroup&nbsp;and not with retailers.</p><p><blockquote>从长远来看，投资者不应该被愚弄，认为这只是一场疫苗游戏。CVS近年来精明，成长为药房福利管理解决方案的主导提供商，甚至在2018年收购了初级保健保险提供商Aetna。这些操作确保了CVS的蓬勃发展，无论个别患者是否带着处方来到他们的实体店。事实上，根据全球行业分类标准，该股票与Cigna和UnitedHealthGroup等其他股票一起被归入“医疗保健计划”，而不是零售商。</blockquote></p><p> The kicker is that CVS has a forward price-to-earnings ratio of about 9 right now, less than half that of the S&amp;P 500’s 22, and well below peers like UNH in its industry group that are around 20. With a health-care focus that insulates it from rates and an attractive valuation, CVS is worth a look.</p><p><blockquote>更重要的是，CVS目前的预期市盈率约为9，不到标普500 22的一半，也远低于UNH等行业内20左右的同行。CVS专注于医疗保健，使其免受利率影响，估值也很有吸引力，因此值得一看。</blockquote></p><p> <b>General Motors</b></p><p><blockquote><b>通用汽车</b></blockquote></p><p> I made the case for General Motors&nbsp;earlier this year in a&nbsp;MarketWatch column. And with shares up about 40% year-to-date, it’s worth repeating that call here as GM has a lot of intrinsic value and remains at an attractive price even after this run.</p><p><blockquote>今年早些时候，我在MarketWatch专栏中提出了通用汽车的理由。今年迄今为止，股价上涨了约40%，值得在这里重复看涨期权，因为通用汽车拥有很大的内在价值，即使在这次上涨之后，价格仍然具有吸引力。</blockquote></p><p> Case in point: GM is sitting on a forward P/E of less than 7, compared with 11 for Toyota&nbsp;and about 22 for the market at large.</p><p><blockquote>例证：通用汽车的预期市盈率不到7，而丰田为11，整个市场约为22。</blockquote></p><p> You might say that’s because the market is discounting GM’s stock for a lack of innovation in the age of electric vehicles. But the truth is that GM is actually running with the pack of EV manfucaturers quite well. Its new&nbsp;Ultium battery power system&nbsp;is modular, allowing it to grow quickly into the many vehicle lines offered by this legacy automaker, and its BrightDrop subsidiary continues to innovate with developments include a&nbsp;250-mile range delivery van. GM has publicly pledged to have a 100% electric portfolio by 2035, and is well on its way to that long-term goal.</p><p><blockquote>你可能会说，这是因为市场因通用汽车在电动汽车时代缺乏创新而对其股票进行了折扣。但事实是，通用汽车实际上与电动汽车制造商合作得很好。其新型Ultium电池动力系统是模块化的，使其能够快速发展到这家传统汽车制造商提供的众多车辆系列中，其BrightDrop子公司继续创新，开发了续航里程为250英里的送货车。通用汽车公开承诺到2035年拥有100%的电动产品组合，并且正在顺利实现这一长期目标。</blockquote></p><p> Now, you may write off this promise as the desperate public relations campaign of a company that has already been eclipsed by Tesla.But GM has one big thing Tesla doesn’t — a mature manufacturing operation that cranks out 7.7 million vehicles a year, and property and equipment valued at almost $80 billion, according to SEC filings.</p><p><blockquote>现在，你可能会将这一承诺视为一家已经被特斯拉黯然失色的公司孤注一掷的公关活动。但通用汽车有一件特斯拉没有的大事——根据SEC的文件，它拥有成熟的制造业务，每年生产770万辆汽车，以及价值近800亿美元的财产和设备。</blockquote></p><p> Yes, the pandemic has created short-term disruptions for the automaker. And yes, there is long-term risk of missing out on the EV revolution. But GM has a ton of intrinsic value right now. And if rates are rising thanks to an economic recovery, you can expect folks to eagerly spend on GM vehicles rather than pay more in financing costs or sticker price later.</p><p><blockquote>是的，疫情给汽车制造商造成了短期干扰。是的，存在错过电动汽车革命的长期风险。但通用汽车目前拥有巨大的内在价值。如果利率因经济复苏而上升，你可以预计人们会急切地购买通用汽车汽车，而不是以后支付更多的融资成本或标价。</blockquote></p><p></p>","source":"market_watch","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>5 sturdy value stocks to protect your portfolio from rising interest rates<blockquote>5只稳健的价值股票可保护您的投资组合免受利率上升的影响</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\">\n5 sturdy value stocks to protect your portfolio from rising interest rates<blockquote>5只稳健的价值股票可保护您的投资组合免受利率上升的影响</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-17 10:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Johnson &amp; Johnson, General Motors and three other companies have high intrinsic value and catalysts that bode well for a post-pandemic world.</p><p><blockquote>强生、通用汽车和其他三家公司具有很高的内在价值和催化剂，这对大流行后的世界来说是个好兆头。</blockquote></p><p> It’s hard to imagine that the benchmark Treasury bond yielding halfway between 1% and 2% would cause panic in the stock market, but that’s exactly what’s happened.</p><p><blockquote>很难想象基准国债收益率介于1%至2%之间会引起股市恐慌，但事实正是如此。</blockquote></p><p> U.S. Treasurys, which are used as a reference rate for all kinds of loans, stood at over 13% some 40 years ago and almost 5% in 2001.</p><p><blockquote>美国国债被用作各种贷款的参考利率，大约40年前的利率超过13%，2001年接近5%。</blockquote></p><p> But considering where Treasurys have been lately, it’s important to remember that low and high are relative terms. As recently as last summer, 10-year Treasurys&nbsp;commanded a 0.5% rate. That means interest rates have tripled in less than a year.</p><p><blockquote>但考虑到美国国债最近的走势，重要的是要记住低点和高点是相对的。就在去年夏天，10年期美国国债的利率为0.5%。这意味着利率在不到一年的时间里增加了两倍。</blockquote></p><p> Rapid changes like that can have a real impact on your portfolio. Consider that the massive iShares Core U.S. Aggregate Bond ETF,which has $85 billion under management, has dipped 4% already this year even as the S&amp;P 500 Index&nbsp;of the largest U.S. stocks has powered 5% higher.</p><p><blockquote>像这样的快速变化会对你的投资组合产生真正的影响。考虑到管理着850亿美元的大型iShares核心美国综合债券ETF今年已下跌4%，尽管美国最大股票的标普500指数上涨了5%。</blockquote></p><p> Some analysts predict&nbsp;rates are only getting started, thanks to stimulus checks, government spending and the long-shot chance of tighter policies from the Federal Reserve later this year.</p><p><blockquote>一些分析师预测，由于刺激检查、政府支出以及美联储今年晚些时候收紧政策的可能性很大，利率才刚刚开始。</blockquote></p><p> If you want to insulate your portfolio from rising rates, here are five low-risk value stocks that could see you through any choppiness in the months ahead.</p><p><blockquote>如果您想使您的投资组合免受利率上升的影响，这里有五只低风险价值股票，可以帮助您度过未来几个月的波动。</blockquote></p><p> <b>Bank of America</b></p><p><blockquote><b>美国银行</b></blockquote></p><p> Historically, increases in interest rates mean expanding profit margins for the financial sector. And Bank of America,&nbsp;the second-largest U.S. bank by assets, has a massive scale that is sure to pay off as rates rise.</p><p><blockquote>从历史上看，加息意味着金融业利润率的扩大。美国银行是美国资产第二大银行，规模庞大，随着利率上升，肯定会得到回报。</blockquote></p><p> The stock isn’t just seeing momentum recently because of the prospect of higher rates. The shares are up almost 60% in the past 12 months since the COVID-19 lows of 2020, outperforming the S&amp;P 500 in the same period.&nbsp; It’s also riding an impressive streak of earnings reports, topping Wall Street expectations in 15 of the last 16 quarters.</p><p><blockquote>该股最近的势头不仅仅是因为利率上升的前景。自2020年COVID-19低点以来，该股在过去12个月内上涨了近60%，跑赢了同期的标普500。该公司还发布了令人印象深刻的财报，过去16个季度中有15个季度超出了华尔街的预期。</blockquote></p><p> Adding to the appeal is that at the end of 2020 iconic investor Warren Buffett and his Berkshire Hathaway&nbsp;investment company pumped more than&nbsp;$2 billioninto Bank of America’s stock to push the stake up to nearly 12% of the entire company. That puts BofA as the No. 2 position in Berkshire’s portfolio, behind&nbsp;only tech giant Apple,and giving the stock a huge vote of confidence. What’s more, Buffett &amp; Co. sought approval from the Federal Reserve to double that already massive investment, up to a total of&nbsp;24.9%&nbsp;of Bank of America’s outstanding shares.</p><p><blockquote>更有吸引力的是，2020年底，标志性投资者沃伦·巴菲特和他的伯克希尔·哈撒韦投资公司向美国银行股票注入了超过20亿美元，将其持股比例推高至整个公司的近12%。这使得美国银行在伯克希尔投资组合中排名第二，仅次于科技巨头苹果，并给该股投下了巨大的信任票。更重要的是，巴菲特公司寻求美联储的批准，将这笔已经庞大的投资增加一倍，达到美国银行流通股的24.</blockquote></p><p> Adjusted for splits, BofA stock is back to levels not seen since 2008, before the financial crisis sent shares to low single digits and resulted in a dividend reduction to just a penny per share. The combination of a rising rate environment, strong institutional buying pressure and massive scale make this stock a stable investment that investors may want to look into.</p><p><blockquote>经分拆调整后，美国银行股价已回到2008年以来的最高水平，当时金融危机导致股价跌至低个位数，并导致股息降至每股1美分。利率上升的环境、强大的机构购买压力和庞大的规模相结合，使这只股票成为投资者可能想要关注的稳定投资。</blockquote></p><p> <b>Johnson &amp; Johnson</b></p><p><blockquote><b>强生公司</b></blockquote></p><p> Another mega-cap stock that should be a familiar favorite of value investors, Johnson &amp; Johnson&nbsp;stands out because of a combination of intrinsic value and specific factors that should help it thrive despite the challenges of 2021.</p><p><blockquote>强生公司是另一只应该是价值投资者熟悉的最爱的大型股，它脱颖而出，因为其内在价值和特定因素的结合应该有助于其在2021年面临挑战的情况下蓬勃发展。</blockquote></p><p> J&amp;J is one of only&nbsp;two&nbsp;S&amp;P&nbsp;500 companies (tech giant Microsoft&nbsp;is the other) with a perfect&nbsp;AAA credit rating.&nbsp;It’s also among the 10 largest U.S. companies by market cap, boasts $25 billion in cash and tallies more than $20 billion in annual operating cash flow. When it comes to stability and tangible value on the balance sheet, it’s hard to top this health-care giant.</p><p><blockquote>J&amp;J是仅有的两家拥有完美AAA信用评级的标准普尔500公司之一（科技巨头微软是另一家）。它也是美国市值最大的10家公司之一，拥有250亿美元的现金，年度运营现金流超过200亿美元。就资产负债表的稳定性和有形价值而言，很难超越这家医疗保健巨头。</blockquote></p><p> In 2021, there are also a few factors that should help J&amp;J power even higher. While it is too big and stable to get quite the short-term momentum of a stock like Moderna&nbsp;or Novavax,J&amp;J is set to benefit from a nice tailwind thanks to the fact its own single-dose coronavirus vaccine received&nbsp;Emergency Use Authorization&nbsp;from the U.S. Food and Drug Administration in late February.</p><p><blockquote>2021年，还有一些因素应该有助于强生动力更上一层楼。虽然强生太大太稳定，无法获得Moderna或Novavax等股票的短期势头，但由于其自己的单剂量冠状病毒疫苗获得了美国的紧急使用授权，强生将受益于良好的顺风。食品药品监督管理局在二月下旬。</blockquote></p><p> Johnson &amp; Johnson has a tremendous portfolio of health-care products to fall back on beyond the vaccine, including over-the-counter medication like Tylenol and its eponymous baby-care products, prescription drugs and medical devices. If you want a “sure thing” stock in an uncertain market environment, it could be hard to find a better candidate than JNJ.</p><p><blockquote>除了疫苗之外，强生公司还拥有庞大的医疗保健产品组合，包括泰诺等非处方药及其同名婴儿护理产品、处方药和医疗设备。如果你想在不确定的市场环境中买一只“确定”的股票，可能很难找到比强生更好的候选人。</blockquote></p><p> <b>Walmart</b></p><p><blockquote><b>沃尔玛</b></blockquote></p><p> Keeping with the theme of tremendous scale, big box retailer Walmart&nbsp;is a $380 billion powerhouse that recorded more than $36 billion in operating cash flow last fiscal year. It’s up nearly 50% from its 2020 lows, outperforming the major stock market indexes in the same period, thanks in part to selling groceries and household goods that have remained in strong demand despite disruptions to other spending categories.</p><p><blockquote>与规模巨大的主题保持一致，大型零售商沃尔玛是一家价值3800亿美元的巨头，上一财年的运营现金流超过360亿美元。较2020年低点上涨近50%，跑赢同期主要股市指数，部分原因是尽管其他支出类别受到干扰，但杂货和家庭用品的销售需求仍然强劲。</blockquote></p><p></p><p> This bodes well for the stability of Walmart going forward, as these categories should remain strong for the foreseeable future. Furthermore, the pandemic forced WMT to increase its already impressive digital penetration with customers and accelerated its membership platform Walmart+. This service, at $12 a month or $98 a year, allows for free next-day shipping with no minimum orders and free-from-store delivery for orders of at least $35. There’s even a 5-cent saving on gasoline for members, making this program seem like as good of a value as WMT stock itself.</p><p><blockquote>这对沃尔玛未来的稳定性来说是个好兆头，因为这些类别在可预见的未来应该会保持强劲。此外，疫情迫使WMT提高其在客户中已经令人印象深刻的数字渗透率，并加速其会员平台Walmart+。这项服务每月12美元或每年98美元，允许第二天免费送货，没有最低订单，订单至少35美元可免费从商店送货。会员甚至可以节省5美分的汽油费用，这使得该计划看起来与WMT股票本身一样物有所值。</blockquote></p><p> The icing on the cake is an impressive track record of 48 years of consecutive dividend increase that proves Walmart isn’t just a reliable source of income but also a stock that’s committed to its shareholders. Dividends are a tangible sign of real value in a stock, as you have to have regular and material profits to back them up, and a long history of increase shows long-term value investors can depend on WMT regardless of short-term ups and downs for the U.S. economy.</p><p><blockquote>锦上添花的是连续48年股息增加的令人印象深刻的记录，这证明沃尔玛不仅是可靠的收入来源，也是一只对股东有承诺的股票。股息是股票实际价值的切实标志，因为你必须有定期和实质性的利润来支持它们，而长期的增长历史表明，无论短期涨跌如何，长期价值投资者都可以依赖WMT。美国经济。</blockquote></p><p> <b>CVS</b></p><p><blockquote><b>CVS</b></blockquote></p><p> Though you may think of CVS&nbsp;as simply a retailer of a different sort, the reality is that CVS has become much more than a drugstore in 2021. Over the past few years, an investment in acute care and vaccination services in-store has paid off big time as CVS is now a critical part of the vaccine rollout in the U.S. In fact, a recent Wall Street Journal report noted the company has delivered over&nbsp;3 million vaccines.</p><p><blockquote>尽管你可能认为CVS只是一家不同类型的零售商，但现实是，CVS在2021年已经不仅仅是一家药店了。在过去的几年里，对店内急症护理和疫苗接种服务的投资获得了巨大回报，因为CVS现在是美国疫苗推广的重要组成部分。事实上，《华尔街日报》最近的一篇报道指出，该公司已交付了超过300万支疫苗。</blockquote></p><p> That’s a short-term opportunity, to be sure. But more importantly, it has brought all those customers into its store and signed many of them up for marketing updates or its ExtraCare rewards program to keep them coming back over the long haul.</p><p><blockquote>可以肯定的是，这是一个短期机会。但更重要的是，它将所有这些顾客带到了它的商店，并为他们中的许多人注册了营销更新或ExtraCare奖励计划，以让他们长期回来。</blockquote></p><p> Speaking of the long haul, investors should not be fooled into thinking this is just a vaccine play. CVS has been shrewd in recent years, growing into a dominant provider of pharmacy benefit management solutions&nbsp; and even acquiring primary care insurance provider&nbsp;Aetna in 2018. These operations ensure CVS thrives whether individual patients come in to their brick-and-mortar stores with a prescription or not. In fact, under the Global Industry Classification Standard the stock is grouped into “health-care plans” with other stocks like Cigna&nbsp;and UnitedHealthGroup&nbsp;and not with retailers.</p><p><blockquote>从长远来看，投资者不应该被愚弄，认为这只是一场疫苗游戏。CVS近年来精明，成长为药房福利管理解决方案的主导提供商，甚至在2018年收购了初级保健保险提供商Aetna。这些操作确保了CVS的蓬勃发展，无论个别患者是否带着处方来到他们的实体店。事实上，根据全球行业分类标准，该股票与Cigna和UnitedHealthGroup等其他股票一起被归入“医疗保健计划”，而不是零售商。</blockquote></p><p> The kicker is that CVS has a forward price-to-earnings ratio of about 9 right now, less than half that of the S&amp;P 500’s 22, and well below peers like UNH in its industry group that are around 20. With a health-care focus that insulates it from rates and an attractive valuation, CVS is worth a look.</p><p><blockquote>更重要的是，CVS目前的预期市盈率约为9，不到标普500 22的一半，也远低于UNH等行业内20左右的同行。CVS专注于医疗保健，使其免受利率影响，估值也很有吸引力，因此值得一看。</blockquote></p><p> <b>General Motors</b></p><p><blockquote><b>通用汽车</b></blockquote></p><p> I made the case for General Motors&nbsp;earlier this year in a&nbsp;MarketWatch column. And with shares up about 40% year-to-date, it’s worth repeating that call here as GM has a lot of intrinsic value and remains at an attractive price even after this run.</p><p><blockquote>今年早些时候，我在MarketWatch专栏中提出了通用汽车的理由。今年迄今为止，股价上涨了约40%，值得在这里重复看涨期权，因为通用汽车拥有很大的内在价值，即使在这次上涨之后，价格仍然具有吸引力。</blockquote></p><p> Case in point: GM is sitting on a forward P/E of less than 7, compared with 11 for Toyota&nbsp;and about 22 for the market at large.</p><p><blockquote>例证：通用汽车的预期市盈率不到7，而丰田为11，整个市场约为22。</blockquote></p><p> You might say that’s because the market is discounting GM’s stock for a lack of innovation in the age of electric vehicles. But the truth is that GM is actually running with the pack of EV manfucaturers quite well. Its new&nbsp;Ultium battery power system&nbsp;is modular, allowing it to grow quickly into the many vehicle lines offered by this legacy automaker, and its BrightDrop subsidiary continues to innovate with developments include a&nbsp;250-mile range delivery van. GM has publicly pledged to have a 100% electric portfolio by 2035, and is well on its way to that long-term goal.</p><p><blockquote>你可能会说，这是因为市场因通用汽车在电动汽车时代缺乏创新而对其股票进行了折扣。但事实是，通用汽车实际上与电动汽车制造商合作得很好。其新型Ultium电池动力系统是模块化的，使其能够快速发展到这家传统汽车制造商提供的众多车辆系列中，其BrightDrop子公司继续创新，开发了续航里程为250英里的送货车。通用汽车公开承诺到2035年拥有100%的电动产品组合，并且正在顺利实现这一长期目标。</blockquote></p><p> Now, you may write off this promise as the desperate public relations campaign of a company that has already been eclipsed by Tesla.But GM has one big thing Tesla doesn’t — a mature manufacturing operation that cranks out 7.7 million vehicles a year, and property and equipment valued at almost $80 billion, according to SEC filings.</p><p><blockquote>现在，你可能会将这一承诺视为一家已经被特斯拉黯然失色的公司孤注一掷的公关活动。但通用汽车有一件特斯拉没有的大事——根据SEC的文件，它拥有成熟的制造业务，每年生产770万辆汽车，以及价值近800亿美元的财产和设备。</blockquote></p><p> Yes, the pandemic has created short-term disruptions for the automaker. And yes, there is long-term risk of missing out on the EV revolution. But GM has a ton of intrinsic value right now. And if rates are rising thanks to an economic recovery, you can expect folks to eagerly spend on GM vehicles rather than pay more in financing costs or sticker price later.</p><p><blockquote>是的，疫情给汽车制造商造成了短期干扰。是的，存在错过电动汽车革命的长期风险。但通用汽车目前拥有巨大的内在价值。如果利率因经济复苏而上升，你可以预计人们会急切地购买通用汽车汽车，而不是以后支付更多的融资成本或标价。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/five-sturdy-value-stocks-to-protect-your-portfolio-from-rising-interest-rates-11615897033?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":{"BAC":"美国银行","WMT":"沃尔玛","CVS":"西维斯健康","JNJ":"强生","GM":"通用汽车"},"source_url":"https://www.marketwatch.com/story/five-sturdy-value-stocks-to-protect-your-portfolio-from-rising-interest-rates-11615897033?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107740379","content_text":"Johnson & Johnson, General Motors and three other companies have high intrinsic value and catalysts that bode well for a post-pandemic world.\nIt’s hard to imagine that the benchmark Treasury bond yielding halfway between 1% and 2% would cause panic in the stock market, but that’s exactly what’s happened.\nU.S. Treasurys, which are used as a reference rate for all kinds of loans, stood at over 13% some 40 years ago and almost 5% in 2001.\nBut considering where Treasurys have been lately, it’s important to remember that low and high are relative terms. As recently as last summer, 10-year Treasurys commanded a 0.5% rate. That means interest rates have tripled in less than a year.\nRapid changes like that can have a real impact on your portfolio. Consider that the massive iShares Core U.S. Aggregate Bond ETF,which has $85 billion under management, has dipped 4% already this year even as the S&P 500 Index of the largest U.S. stocks has powered 5% higher.\nSome analysts predict rates are only getting started, thanks to stimulus checks, government spending and the long-shot chance of tighter policies from the Federal Reserve later this year.\nIf you want to insulate your portfolio from rising rates, here are five low-risk value stocks that could see you through any choppiness in the months ahead.\nBank of America\nHistorically, increases in interest rates mean expanding profit margins for the financial sector. And Bank of America, the second-largest U.S. bank by assets, has a massive scale that is sure to pay off as rates rise.\nThe stock isn’t just seeing momentum recently because of the prospect of higher rates. The shares are up almost 60% in the past 12 months since the COVID-19 lows of 2020, outperforming the S&P 500 in the same period.  It’s also riding an impressive streak of earnings reports, topping Wall Street expectations in 15 of the last 16 quarters.\nAdding to the appeal is that at the end of 2020 iconic investor Warren Buffett and his Berkshire Hathaway investment company pumped more than $2 billioninto Bank of America’s stock to push the stake up to nearly 12% of the entire company. That puts BofA as the No. 2 position in Berkshire’s portfolio, behind only tech giant Apple,and giving the stock a huge vote of confidence. What’s more, Buffett & Co. sought approval from the Federal Reserve to double that already massive investment, up to a total of 24.9% of Bank of America’s outstanding shares.\nAdjusted for splits, BofA stock is back to levels not seen since 2008, before the financial crisis sent shares to low single digits and resulted in a dividend reduction to just a penny per share. The combination of a rising rate environment, strong institutional buying pressure and massive scale make this stock a stable investment that investors may want to look into.\nJohnson & Johnson\nAnother mega-cap stock that should be a familiar favorite of value investors, Johnson & Johnson stands out because of a combination of intrinsic value and specific factors that should help it thrive despite the challenges of 2021.\nJ&J is one of only two S&P 500 companies (tech giant Microsoft is the other) with a perfect AAA credit rating. It’s also among the 10 largest U.S. companies by market cap, boasts $25 billion in cash and tallies more than $20 billion in annual operating cash flow. When it comes to stability and tangible value on the balance sheet, it’s hard to top this health-care giant.\nIn 2021, there are also a few factors that should help J&J power even higher. While it is too big and stable to get quite the short-term momentum of a stock like Moderna or Novavax,J&J is set to benefit from a nice tailwind thanks to the fact its own single-dose coronavirus vaccine received Emergency Use Authorization from the U.S. Food and Drug Administration in late February.\nJohnson & Johnson has a tremendous portfolio of health-care products to fall back on beyond the vaccine, including over-the-counter medication like Tylenol and its eponymous baby-care products, prescription drugs and medical devices. If you want a “sure thing” stock in an uncertain market environment, it could be hard to find a better candidate than JNJ.\nWalmart\nKeeping with the theme of tremendous scale, big box retailer Walmart is a $380 billion powerhouse that recorded more than $36 billion in operating cash flow last fiscal year. It’s up nearly 50% from its 2020 lows, outperforming the major stock market indexes in the same period, thanks in part to selling groceries and household goods that have remained in strong demand despite disruptions to other spending categories.\nThis bodes well for the stability of Walmart going forward, as these categories should remain strong for the foreseeable future. Furthermore, the pandemic forced WMT to increase its already impressive digital penetration with customers and accelerated its membership platform Walmart+. This service, at $12 a month or $98 a year, allows for free next-day shipping with no minimum orders and free-from-store delivery for orders of at least $35. There’s even a 5-cent saving on gasoline for members, making this program seem like as good of a value as WMT stock itself.\nThe icing on the cake is an impressive track record of 48 years of consecutive dividend increase that proves Walmart isn’t just a reliable source of income but also a stock that’s committed to its shareholders. Dividends are a tangible sign of real value in a stock, as you have to have regular and material profits to back them up, and a long history of increase shows long-term value investors can depend on WMT regardless of short-term ups and downs for the U.S. economy.\nCVS\nThough you may think of CVS as simply a retailer of a different sort, the reality is that CVS has become much more than a drugstore in 2021. Over the past few years, an investment in acute care and vaccination services in-store has paid off big time as CVS is now a critical part of the vaccine rollout in the U.S. In fact, a recent Wall Street Journal report noted the company has delivered over 3 million vaccines.\nThat’s a short-term opportunity, to be sure. But more importantly, it has brought all those customers into its store and signed many of them up for marketing updates or its ExtraCare rewards program to keep them coming back over the long haul.\nSpeaking of the long haul, investors should not be fooled into thinking this is just a vaccine play. CVS has been shrewd in recent years, growing into a dominant provider of pharmacy benefit management solutions  and even acquiring primary care insurance provider Aetna in 2018. These operations ensure CVS thrives whether individual patients come in to their brick-and-mortar stores with a prescription or not. In fact, under the Global Industry Classification Standard the stock is grouped into “health-care plans” with other stocks like Cigna and UnitedHealthGroup and not with retailers.\nThe kicker is that CVS has a forward price-to-earnings ratio of about 9 right now, less than half that of the S&P 500’s 22, and well below peers like UNH in its industry group that are around 20. With a health-care focus that insulates it from rates and an attractive valuation, CVS is worth a look.\nGeneral Motors\nI made the case for General Motors earlier this year in a MarketWatch column. And with shares up about 40% year-to-date, it’s worth repeating that call here as GM has a lot of intrinsic value and remains at an attractive price even after this run.\nCase in point: GM is sitting on a forward P/E of less than 7, compared with 11 for Toyota and about 22 for the market at large.\nYou might say that’s because the market is discounting GM’s stock for a lack of innovation in the age of electric vehicles. But the truth is that GM is actually running with the pack of EV manfucaturers quite well. Its new Ultium battery power system is modular, allowing it to grow quickly into the many vehicle lines offered by this legacy automaker, and its BrightDrop subsidiary continues to innovate with developments include a 250-mile range delivery van. GM has publicly pledged to have a 100% electric portfolio by 2035, and is well on its way to that long-term goal.\nNow, you may write off this promise as the desperate public relations campaign of a company that has already been eclipsed by Tesla.But GM has one big thing Tesla doesn’t — a mature manufacturing operation that cranks out 7.7 million vehicles a year, and property and equipment valued at almost $80 billion, according to SEC filings.\nYes, the pandemic has created short-term disruptions for the automaker. And yes, there is long-term risk of missing out on the EV revolution. But GM has a ton of intrinsic value right now. And if rates are rising thanks to an economic recovery, you can expect folks to eagerly spend on GM vehicles rather than pay more in financing costs or sticker price later.","news_type":1,"symbols_score_info":{"CVS":0.9,"JNJ":0.9,"GM":0.9,"WMT":0.9,"BAC":0.9}},"isVote":1,"tweetType":1,"viewCount":392,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183984221,"gmtCreate":1623300600863,"gmtModify":1631891827659,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;","listText":"[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;[笑哭]&nbsp;","text":"[笑哭] [笑哭] [笑哭] [笑哭] [笑哭]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183984221","repostId":"2142210925","repostType":4,"isVote":1,"tweetType":1,"viewCount":2041,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":343138643,"gmtCreate":1617686558382,"gmtModify":1634297099125,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","listText":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","text":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/343138643","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","kind":"news","pubTimestamp":1617672655,"share":"https://www.laohu8.com/m/news/1101907559?lang=zh_CN&edition=full","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能肯定地说，所谓的家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机从来都不完全一样。20世纪80年代末，美国近三分之一的储蓄和贷款协会倒闭，最终获得了约2650亿美元的纳税人救助（按2021年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄国的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运营实践如此之大，以至于美联储主席艾伦·格林斯潘说，当LTCM失败时，“他一生中从未见过任何与他所感受到的恐怖相比的事情”。LTCM被认为“太大而不能倒”，他策划了对14家美国主要金融机构的救助。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构的过度杠杆化，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行再一次被认为太大而不能倒，纳税人前来救援。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆发，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于外行人来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思：咨询公司安永估计全球约有10,000个家族理财室，但市场研究公司Campden Research的另一项估计称，管理家族理财室的规模接近6万亿美元。鉴于这6万亿美元是基于2019年的数据，现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的基金经理</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这是潜在的危险。家族理财室通常不受监管。1940年《投资顾问法》规定，拥有15名或更少客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元正在发挥作用，没有人能真正说出谁在管理这笔钱，它投资于什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大举押注某些中国股票，包括电子商务公司唯品会控股有限公司VIPS，-1.19%，在美国上市的中国家教公司跟谁学GSX，-10.63%，以及美国媒体公司维亚康姆哥伦比亚广播公司VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。最近股价暴跌，引发Archegos的大量抛售（约300亿美元）。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道Archegos与华尔街的一些大牌合作，包括瑞士信贷集团AGCS，+1.59%，瑞银集团AGUBS，+1.01%，高盛集团Inc.GS，-1.25%，摩根士丹利MS，-0.28%，德意志银行AGDB，+0.74%，野村控股公司NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但由于家族办公室在很大程度上被允许不受监管地运营，谁能说这里真正涉及多少资金以及市场风险有多大？我的同事Mark DeCambre上周报告称，Archegos对不良交易的真实敞口实际上可能接近1000亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险的危险性</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的用武之地。随着Archegos的赌注落空，上述银行考虑到自己的损失，以保证金评级打击了该公司。德意志银行迅速抛售了约40亿美元的持股，而高盛和摩根士丹利据说也已平仓，这或许限制了它们的下跌空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎不是。即便如此，美国证券交易委员会还是对Archegos及其创始人Bill Hwang展开了初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>Fundstrat Global Advisors的研究主管Tom Lee是他认识的“十大最佳投资头脑”之一的评级·黄。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012年，黄禹锡的前对冲基金老虎亚洲管理公司(Tiger Asia Management)认罪并支付了超过6000万美元的罚款，此前该公司被指控利用有关中国银行的非法线索进行交易。美国证券交易委员会禁止黄禹锡代表客户管理资金——实质上是将他踢出对冲基金行业。因此，Hwang开设了Archegos，同样，家族理财室通常不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特·耶伦的关注。她上周表示，需要加强对金融业这些私人角落的监管。她监管的金融稳定监督委员会（FSOC）重新成立了一个工作组，以帮助各机构更好地“共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯（Abe Lincoln）的话，家族办公室——一个价值数万亿美元的行业，在一个比以往任何时候都更加交织在一起的全球金融体系中，很大程度上被允许在阴影中运作——属于超级富豪，由超级富豪经营，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的倒闭可能是也可能不是另一场金融危机的开始。但谁能说其他数千家家族理财室正在用他们的数万亿美元做什么，以及类似的问题是否会爆发？</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time<blockquote>观点：金融危机大约每10年就会引发一次——Archegos可能准时出现</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-04-06 09:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>  Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p><p><blockquote><b>目前，没有人能肯定地说，所谓的家族办公室数十亿美元的投资损失不会蔓延。</b>金融危机从来都不完全一样。20世纪80年代末，美国近三分之一的储蓄和贷款协会倒闭，最终获得了约2650亿美元的纳税人救助（按2021年计算）。</blockquote></p><p> In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p><p><blockquote>1997-1998年，亚洲和俄国的金融危机导致美国最大的对冲基金——长期资本管理公司（LTCM）几近崩溃。它的影响力和运营实践如此之大，以至于美联储主席艾伦·格林斯潘说，当LTCM失败时，“他一生中从未见过任何与他所感受到的恐怖相比的事情”。LTCM被认为“太大而不能倒”，他策划了对14家美国主要金融机构的救助。</blockquote></p><p> Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p><p><blockquote>整整十年后，其中一些机构的过度杠杆化，以及美国房地产泡沫的破裂，导致美国金融体系几近崩溃。大银行再一次被认为太大而不能倒，纳税人前来救援。</blockquote></p><p> The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p><p><blockquote>趋势？每隔10年左右，它们看起来都不一样。随着家族办公室Archegos Capital Management LP的爆发，我们现在是否正处于新危机的早期阶段？</blockquote></p><p> A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p><p><blockquote>对于外行人来说，家族办公室是超级富豪的私人财富管理工具。这就是我所说的超级富豪的意思：咨询公司安永估计全球约有10,000个家族理财室，但市场研究公司Campden Research的另一项估计称，管理家族理财室的规模接近6万亿美元。鉴于这6万亿美元是基于2019年的数据，现在可能要高得多。</blockquote></p><p> <b>Unregulated money managers</b></p><p><blockquote><b>不受监管的基金经理</b></blockquote></p><p> Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p><p><blockquote>这是潜在的危险。家族理财室通常不受监管。1940年《投资顾问法》规定，拥有15名或更少客户的公司无需向美国证券交易委员会注册。这意味着数万亿美元正在发挥作用，没有人能真正说出谁在管理这笔钱，它投资于什么，使用了多少杠杆，以及可能存在什么样的交易对手风险。（交易对手风险是指参与金融交易的一方可能违反对另一方的合同义务的概率。）</blockquote></p><p> This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p><p><blockquote>Archegos似乎就是这种情况。该公司大举押注某些中国股票，包括电子商务公司唯品会控股有限公司VIPS，-1.19%，在美国上市的中国家教公司跟谁学GSX，-10.63%，以及美国媒体公司维亚康姆哥伦比亚广播公司VIAC，-3.90%和Discovery Inc.DISCA，-3.86%等。最近股价暴跌，引发Archegos的大量抛售（约300亿美元）。</blockquote></p><p> The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p><p><blockquote>问题是，其中只有大约三分之一，即100亿美元，是它自己的钱。我们现在知道Archegos与华尔街的一些大牌合作，包括瑞士信贷集团AGCS，+1.59%，瑞银集团AGUBS，+1.01%，高盛集团Inc.GS，-1.25%，摩根士丹利MS，-0.28%，德意志银行AGDB，+0.74%，野村控股公司NMR，+1.87%。</blockquote></p><p> But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p><p><blockquote>但由于家族办公室在很大程度上被允许不受监管地运营，谁能说这里真正涉及多少资金以及市场风险有多大？我的同事Mark DeCambre上周报告称，Archegos对不良交易的真实敞口实际上可能接近1000亿美元。</blockquote></p><p> <b>Danger of counterparty risk</b></p><p><blockquote><b>交易对手风险的危险性</b></blockquote></p><p> This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p><p><blockquote>这就是交易对手风险的用武之地。随着Archegos的赌注落空，上述银行考虑到自己的损失，以保证金评级打击了该公司。德意志银行迅速抛售了约40亿美元的持股，而高盛和摩根士丹利据说也已平仓，这或许限制了它们的下跌空间。</blockquote></p><p> So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p><p><blockquote>那么这是金融危机吗？似乎不是。即便如此，美国证券交易委员会还是对Archegos及其创始人Bill Hwang展开了初步调查。</blockquote></p><p> One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p><p><blockquote>Fundstrat Global Advisors的研究主管Tom Lee是他认识的“十大最佳投资头脑”之一的评级·黄。</blockquote></p><p> But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p><p><blockquote>但联邦监管机构的意见可能较少。2012年，黄禹锡的前对冲基金老虎亚洲管理公司(Tiger Asia Management)认罪并支付了超过6000万美元的罚款，此前该公司被指控利用有关中国银行的非法线索进行交易。美国证券交易委员会禁止黄禹锡代表客户管理资金——实质上是将他踢出对冲基金行业。因此，Hwang开设了Archegos，同样，家族理财室通常不受监管。</blockquote></p><p> <b>Yellen on the case</b></p><p><blockquote><b>耶伦谈此案</b></blockquote></p><p> This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p><p><blockquote>这个问题引起了财政部长珍妮特·耶伦的关注。她上周表示，需要加强对金融业这些私人角落的监管。她监管的金融稳定监督委员会（FSOC）重新成立了一个工作组，以帮助各机构更好地“共享数据、识别风险并努力加强我们的金融体系”。</blockquote></p><p></p><p> Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p><p><blockquote>大多数金融危机最终都是美国纳税人陷入困境。收益属于冒险者。但是损失——它们属于我们。套用亚伯·林肯（Abe Lincoln）的话，家族办公室——一个价值数万亿美元的行业，在一个比以往任何时候都更加交织在一起的全球金融体系中，很大程度上被允许在阴影中运作——属于超级富豪，由超级富豪经营，为超级富豪服务。没有其他人。</blockquote></p><p> The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p><p><blockquote>Archegos的倒闭可能是也可能不是另一场金融危机的开始。但谁能说其他数千家家族理财室正在用他们的数万亿美元做什么，以及类似的问题是否会爆发？</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355386243,"gmtCreate":1617028731682,"gmtModify":1634523031127,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Time to buy some Bank stocks! Pls like or comment 😃","listText":"Time to buy some Bank stocks! Pls like or comment 😃","text":"Time to buy some Bank stocks! Pls like or comment 😃","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/355386243","repostId":"1180199356","repostType":4,"isVote":1,"tweetType":1,"viewCount":713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322202288,"gmtCreate":1615807193744,"gmtModify":1703493271170,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"I think GME will not stop Until it reaches 1500...&nbsp;","listText":"I think GME will not stop Until it reaches 1500...&nbsp;","text":"I think GME will not stop Until it reaches 1500...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322202288","repostId":"1158233246","repostType":4,"repost":{"id":"1158233246","kind":"news","pubTimestamp":1615805387,"share":"https://www.laohu8.com/m/news/1158233246?lang=zh_CN&edition=full","pubTime":"2021-03-15 18:49","market":"us","language":"en","title":"GameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.<blockquote>游戏驿站、AMC和喜满客的股价遭受重创。前面是什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158233246","media":"barrons","summary":"For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a seri","content":"<p>For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a series of sickening lows and dizzying highs. Now that the worst appears to be over, they are moving to the next difficult phase: delivering a rebound.</p><p><blockquote>对于游戏驿站、AMC院线控股和喜满客控股来说，过去12个月是一系列令人作呕的低点和令人眼花缭乱的高点。现在，最糟糕的时期似乎已经过去，他们正在进入下一个困难阶段：实现反弹。</blockquote></p><p> All three are emerging from brutal pandemic lockdowns. GameStop (ticker: GME) and AMC (AMC) also made it through short squeezes and retail trading frenzies. Each is now maneuvering through what many consider permanent shifts in the way consumers shop and seek entertainment.</p><p><blockquote>这三个人都刚刚摆脱了残酷的疫情封锁。游戏驿站（股票代码：GME）和AMC（AMC）也经历了轧空和零售交易狂潮。每个公司现在都在经历许多人认为的消费者购物和寻求娱乐方式的永久性转变。</blockquote></p><p> The companies each have mapped out paths forward, but at least two of the stocks—Gamestop and AMC—are apt to face more struggles.</p><p><blockquote>两家公司都规划了前进的道路，但至少有两只股票——游戏驿站和AMC——可能会面临更多困境。</blockquote></p><p> GameStop, which sells new and used videogames and consoles, is trying to transform itself from a collection of 5,000-plus traditional stores to a nimble digital force under the eye of Chewy (CHWY) founder Ryan Cohen, who bought a 9% stake last year and assumed a board seat. Shares jumped 97.1% last week, to a recent $264, on the formation of a committee on the company’s reinvention.</p><p><blockquote>销售新的和二手视频游戏和游戏机的游戏驿站正试图在Chewy(CHWY)创始人Ryan Cohen的指导下将自己从5,000多家传统商店转型为灵活的数字力量，Ryan Cohen去年购买了9%的股份并担任董事会席位。随着公司重塑委员会的成立，股价上周上涨97.1%，至最近的264美元。</blockquote></p><p> Still, revenue was already trending down, from $9.2 billion in 2018 to $6.5 billion for 2020 and an estimated $5.2 billion for 2021. Analysts tracked by FactSet expect per-share losses for 2021 and 2022.</p><p><blockquote>尽管如此，收入已经呈下降趋势，从2018年的92亿美元降至2020年的65亿美元，预计2021年将达到52亿美元。FactSet追踪的分析师预计2021年和2022年每股亏损。</blockquote></p><p> Barron’s thought the shares looked pricey at $18 in January, and we haven’t changed our minds, given the monumental challenges ahead. GameStop said its committee will look for “identifying actions” to transform the company into a technology business.</p><p><blockquote>《巴伦周刊》认为该股1月份的价格为18美元，看起来很昂贵，考虑到未来的巨大挑战，我们没有改变主意。游戏驿站表示，其委员会将寻找“确定行动”，将公司转变为一家技术企业。</blockquote></p><p> AMC and Cinemark (CNK) both are getting new life, particularly with the opening of theaters in major markets like Los Angeles and New York City. AMC beat earnings expectations for the fourth quarter, and shares popped 40.4% this past week, to a recent $11.16. But Lightshed Partners’ Richard Greenfield says AMC’s debt load—equal to 8.3 times 2022 estimated earnings before interest, taxes, and amortization—makes the stock a Sell. His price target: one penny.</p><p><blockquote>AMC和喜满客(CNK)都获得了新生，特别是随着影院在洛杉矶和纽约市等主要市场的开业。AMC第四季度盈利超出预期，股价上周上涨40.4%，至近期11.16美元。但Lightshed Partners的理查德·格林菲尔德(Richard Greenfield)表示，AMC的债务负担相当于2022年预计息税摊销前利润的8.3倍，因此该股值得卖出。他的目标价格：一便士。</blockquote></p><p> AMC couldn’t be reached for comment.</p><p><blockquote>记者无法联系到AMC置评。</blockquote></p><p> Not all analysts are negative, but many point to AMC’s steeply rising costs, such as $450 million in deferred rent. AMC has been raising cash by selling shares and issuing convertible debt, and said in an earnings release Thursday that “we will continue to actively explore alternatives to raise additional capital and reduce our leverage.”</p><p><blockquote>并非所有分析师都持负面态度，但许多分析师指出AMC的成本急剧上升，例如4.5亿美元的递延租金。AMC一直在通过出售股票和发行可转换债券筹集现金，并在周四的财报中表示，“我们将继续积极探索筹集额外资本和降低杠杆的替代方案。”</blockquote></p><p> Cinemark has less debt; leverage is under five times 2022 Ebita, and it is selling a $405 million bond to retire some of it. Cinemark recently flexed its muscles with Hollywood, opting not to show Disney’s (DIS) Raya and the Last Dragon, denting premier weekend box-office sales for the studio.</p><p><blockquote>喜满客的债务较少；杠杆率低于2022年Ebita的五倍，该公司正在出售4.05亿美元的债券以收回其中一部分。喜满客最近向好莱坞展示了自己的实力，选择不放映迪士尼（DIS）的《拉亚》和《最后的龙》，削弱了该工作室首映周末的票房销售。</blockquote></p><p> Taking such a stand shows that theater chains still have some power, says Eric Wold of B. Riley Securities, who rates Cinemark a Buy. “This could force studios to take a closer look at distribution strategies,” he says.</p><p><blockquote>B.Riley Securities的埃里克·沃尔德(Eric Wold)表示，采取这样的立场表明连锁影院仍然拥有一定的实力，他将喜满客评级为买入。“这可能会迫使电影公司更仔细地审视发行策略，”他说。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.<blockquote>游戏驿站、AMC和喜满客的股价遭受重创。前面是什么。</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\">\nGameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.<blockquote>游戏驿站、AMC和喜满客的股价遭受重创。前面是什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">barrons</strong><span class=\"h-time small\">2021-03-15 18:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a series of sickening lows and dizzying highs. Now that the worst appears to be over, they are moving to the next difficult phase: delivering a rebound.</p><p><blockquote>对于游戏驿站、AMC院线控股和喜满客控股来说，过去12个月是一系列令人作呕的低点和令人眼花缭乱的高点。现在，最糟糕的时期似乎已经过去，他们正在进入下一个困难阶段：实现反弹。</blockquote></p><p> All three are emerging from brutal pandemic lockdowns. GameStop (ticker: GME) and AMC (AMC) also made it through short squeezes and retail trading frenzies. Each is now maneuvering through what many consider permanent shifts in the way consumers shop and seek entertainment.</p><p><blockquote>这三个人都刚刚摆脱了残酷的疫情封锁。游戏驿站（股票代码：GME）和AMC（AMC）也经历了轧空和零售交易狂潮。每个公司现在都在经历许多人认为的消费者购物和寻求娱乐方式的永久性转变。</blockquote></p><p> The companies each have mapped out paths forward, but at least two of the stocks—Gamestop and AMC—are apt to face more struggles.</p><p><blockquote>两家公司都规划了前进的道路，但至少有两只股票——游戏驿站和AMC——可能会面临更多困境。</blockquote></p><p> GameStop, which sells new and used videogames and consoles, is trying to transform itself from a collection of 5,000-plus traditional stores to a nimble digital force under the eye of Chewy (CHWY) founder Ryan Cohen, who bought a 9% stake last year and assumed a board seat. Shares jumped 97.1% last week, to a recent $264, on the formation of a committee on the company’s reinvention.</p><p><blockquote>销售新的和二手视频游戏和游戏机的游戏驿站正试图在Chewy(CHWY)创始人Ryan Cohen的指导下将自己从5,000多家传统商店转型为灵活的数字力量，Ryan Cohen去年购买了9%的股份并担任董事会席位。随着公司重塑委员会的成立，股价上周上涨97.1%，至最近的264美元。</blockquote></p><p> Still, revenue was already trending down, from $9.2 billion in 2018 to $6.5 billion for 2020 and an estimated $5.2 billion for 2021. Analysts tracked by FactSet expect per-share losses for 2021 and 2022.</p><p><blockquote>尽管如此，收入已经呈下降趋势，从2018年的92亿美元降至2020年的65亿美元，预计2021年将达到52亿美元。FactSet追踪的分析师预计2021年和2022年每股亏损。</blockquote></p><p> Barron’s thought the shares looked pricey at $18 in January, and we haven’t changed our minds, given the monumental challenges ahead. GameStop said its committee will look for “identifying actions” to transform the company into a technology business.</p><p><blockquote>《巴伦周刊》认为该股1月份的价格为18美元，看起来很昂贵，考虑到未来的巨大挑战，我们没有改变主意。游戏驿站表示，其委员会将寻找“确定行动”，将公司转变为一家技术企业。</blockquote></p><p> AMC and Cinemark (CNK) both are getting new life, particularly with the opening of theaters in major markets like Los Angeles and New York City. AMC beat earnings expectations for the fourth quarter, and shares popped 40.4% this past week, to a recent $11.16. But Lightshed Partners’ Richard Greenfield says AMC’s debt load—equal to 8.3 times 2022 estimated earnings before interest, taxes, and amortization—makes the stock a Sell. His price target: one penny.</p><p><blockquote>AMC和喜满客(CNK)都获得了新生，特别是随着影院在洛杉矶和纽约市等主要市场的开业。AMC第四季度盈利超出预期，股价上周上涨40.4%，至近期11.16美元。但Lightshed Partners的理查德·格林菲尔德(Richard Greenfield)表示，AMC的债务负担相当于2022年预计息税摊销前利润的8.3倍，因此该股值得卖出。他的目标价格：一便士。</blockquote></p><p> AMC couldn’t be reached for comment.</p><p><blockquote>记者无法联系到AMC置评。</blockquote></p><p> Not all analysts are negative, but many point to AMC’s steeply rising costs, such as $450 million in deferred rent. AMC has been raising cash by selling shares and issuing convertible debt, and said in an earnings release Thursday that “we will continue to actively explore alternatives to raise additional capital and reduce our leverage.”</p><p><blockquote>并非所有分析师都持负面态度，但许多分析师指出AMC的成本急剧上升，例如4.5亿美元的递延租金。AMC一直在通过出售股票和发行可转换债券筹集现金，并在周四的财报中表示，“我们将继续积极探索筹集额外资本和降低杠杆的替代方案。”</blockquote></p><p> Cinemark has less debt; leverage is under five times 2022 Ebita, and it is selling a $405 million bond to retire some of it. Cinemark recently flexed its muscles with Hollywood, opting not to show Disney’s (DIS) Raya and the Last Dragon, denting premier weekend box-office sales for the studio.</p><p><blockquote>喜满客的债务较少；杠杆率低于2022年Ebita的五倍，该公司正在出售4.05亿美元的债券以收回其中一部分。喜满客最近向好莱坞展示了自己的实力，选择不放映迪士尼（DIS）的《拉亚》和《最后的龙》，削弱了该工作室首映周末的票房销售。</blockquote></p><p> Taking such a stand shows that theater chains still have some power, says Eric Wold of B. Riley Securities, who rates Cinemark a Buy. “This could force studios to take a closer look at distribution strategies,” he says.</p><p><blockquote>B.Riley Securities的埃里克·沃尔德(Eric Wold)表示，采取这样的立场表明连锁影院仍然拥有一定的实力，他将喜满客评级为买入。“这可能会迫使电影公司更仔细地审视发行策略，”他说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/gamestop-amc-and-cinemark-could-see-more-turmoil-51615598763?mod=hp_DAY_13\">barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CNK":"喜满客影城","AMC":"AMC院线","GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/gamestop-amc-and-cinemark-could-see-more-turmoil-51615598763?mod=hp_DAY_13","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158233246","content_text":"For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a series of sickening lows and dizzying highs. Now that the worst appears to be over, they are moving to the next difficult phase: delivering a rebound.\nAll three are emerging from brutal pandemic lockdowns. GameStop (ticker: GME) and AMC (AMC) also made it through short squeezes and retail trading frenzies. Each is now maneuvering through what many consider permanent shifts in the way consumers shop and seek entertainment.\nThe companies each have mapped out paths forward, but at least two of the stocks—Gamestop and AMC—are apt to face more struggles.\nGameStop, which sells new and used videogames and consoles, is trying to transform itself from a collection of 5,000-plus traditional stores to a nimble digital force under the eye of Chewy (CHWY) founder Ryan Cohen, who bought a 9% stake last year and assumed a board seat. Shares jumped 97.1% last week, to a recent $264, on the formation of a committee on the company’s reinvention.\nStill, revenue was already trending down, from $9.2 billion in 2018 to $6.5 billion for 2020 and an estimated $5.2 billion for 2021. Analysts tracked by FactSet expect per-share losses for 2021 and 2022.\nBarron’s thought the shares looked pricey at $18 in January, and we haven’t changed our minds, given the monumental challenges ahead. GameStop said its committee will look for “identifying actions” to transform the company into a technology business.\nAMC and Cinemark (CNK) both are getting new life, particularly with the opening of theaters in major markets like Los Angeles and New York City. AMC beat earnings expectations for the fourth quarter, and shares popped 40.4% this past week, to a recent $11.16. But Lightshed Partners’ Richard Greenfield says AMC’s debt load—equal to 8.3 times 2022 estimated earnings before interest, taxes, and amortization—makes the stock a Sell. His price target: one penny.\nAMC couldn’t be reached for comment.\nNot all analysts are negative, but many point to AMC’s steeply rising costs, such as $450 million in deferred rent. AMC has been raising cash by selling shares and issuing convertible debt, and said in an earnings release Thursday that “we will continue to actively explore alternatives to raise additional capital and reduce our leverage.”\nCinemark has less debt; leverage is under five times 2022 Ebita, and it is selling a $405 million bond to retire some of it. Cinemark recently flexed its muscles with Hollywood, opting not to show Disney’s (DIS) Raya and the Last Dragon, denting premier weekend box-office sales for the studio.\nTaking such a stand shows that theater chains still have some power, says Eric Wold of B. Riley Securities, who rates Cinemark a Buy. “This could force studios to take a closer look at distribution strategies,” he says.","news_type":1,"symbols_score_info":{"GME":0.9,"AMC":0.9,"CNK":0.9}},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110653701,"gmtCreate":1622451427203,"gmtModify":1631891827676,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"[捂脸]&nbsp;no words","listText":"[捂脸]&nbsp;no words","text":"[捂脸] no words","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/110653701","repostId":"1198461252","repostType":4,"isVote":1,"tweetType":1,"viewCount":1882,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":370218416,"gmtCreate":1618585787735,"gmtModify":1634291897965,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","listText":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","text":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/370218416","repostId":"1156411249","repostType":4,"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169376846,"gmtCreate":1623819188885,"gmtModify":1631891827597,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Dollar-cost averaging only reduces&nbsp;the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","listText":"Dollar-cost averaging only reduces&nbsp;the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","text":"Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169376846","repostId":"1182315358","repostType":4,"isVote":1,"tweetType":1,"viewCount":1140,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180474119,"gmtCreate":1623224450831,"gmtModify":1631891827667,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"More to come...","listText":"More to come...","text":"More to come...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180474119","repostId":"1176918592","repostType":4,"isVote":1,"tweetType":1,"viewCount":1731,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376766042,"gmtCreate":1619149941186,"gmtModify":1634288166582,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Because of GME?! Hahaha","listText":"Because of GME?! Hahaha","text":"Because of GME?! Hahaha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/376766042","repostId":"1141178573","repostType":4,"isVote":1,"tweetType":1,"viewCount":781,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}