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Jasmimim

Jasmimim

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2021-09-15

Didi when u can wake up huh?

2021-07-09

Good

Meme Stocks Like GameStop and AMC Reflect Market Reality<blockquote>游戏驿站和AMC等模因股票反映了市场现实</blockquote>

2021-09-17

Good

@Huatchin:$Walt Disney(DIS)$To the moon

2021-06-25

good

抱歉，原内容已删除

2021-09-15

Didi when u can wake up huh?

2021-07-09

Good

抱歉，原内容已删除

2021-07-06

Noted

抱歉，原内容已删除

2021-06-29

good

A big market transition is coming. Here's where investors should steer next, says this strategist.<blockquote>一场大的市场转型即将到来。这位策略师表示，这是投资者下一步应该转向的方向。</blockquote>

2021-07-07

good

@格隆汇:超百倍认购的朝聚眼科（2219.HK）暗盘收涨，首秀表现值得期待

2021-06-25

Good to read this

抱歉，原内容已删除

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href=\"https://laohu8.com/S/DIS\">$迪士尼(DIS)$</a>拖累道指下跌；热门中概股集体上涨，<a href=\"https://laohu8.com/S/JD\">$京东(JD)$</a>大涨逾8%；市值突破千亿！Rivian上市次日再度飙升；人造肉行业增长前景黯淡？Beyond Meat股价收跌逾13%；双11成绩单出炉：天猫5403亿元，京东超3491亿元&gt;&gt;&gt; 收盘：美股涨跌不一 迪士尼拖累道指下跌 三大指数涨跌不一，标普500指数和纳指双双反弹，仅道指延续跌势，部分原因是迪士尼出现了一年多来最糟糕的单日表现。截至收盘，道琼斯指数跌0.44%，报35,921.23点；标普500指数涨0.06%，报4,649.27点；纳斯达克指数涨0.52%，报15,704.30点。 热门中概股集体上涨 京东大涨逾8% <a href=\"https://laohu8.com/S/BABA\">$阿里巴巴(BABA)$</a>涨2.27%，京东涨8.31%，微博涨4.61%，<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>涨7.35%，<a href=\"https://laohu8.com/S/BILI\">$哔哩哔哩(BILI)$</a>涨4.33%，<a href=\"https://laohu8.com/S/BIDU\">$百度(BIDU)$</a>涨3.53%，<a href=\"https://laohu8.com/S/EDU\">$新东方(EDU)$</a>涨6.9%，<a href=\"https://laohu8.com/S/TAL\">$好未来(TAL)$</a>涨8.65%，<a href=\"https://laohu8.com/S/NTES\">$网易(NTE</a>","listText":"摘要：美股涨跌不一，<a href=\"https://laohu8.com/S/DIS\">$迪士尼(DIS)$</a>拖累道指下跌；热门中概股集体上涨，<a href=\"https://laohu8.com/S/JD\">$京东(JD)$</a>大涨逾8%；市值突破千亿！Rivian上市次日再度飙升；人造肉行业增长前景黯淡？Beyond Meat股价收跌逾13%；双11成绩单出炉：天猫5403亿元，京东超3491亿元&gt;&gt;&gt; 收盘：美股涨跌不一 迪士尼拖累道指下跌 三大指数涨跌不一，标普500指数和纳指双双反弹，仅道指延续跌势，部分原因是迪士尼出现了一年多来最糟糕的单日表现。截至收盘，道琼斯指数跌0.44%，报35,921.23点；标普500指数涨0.06%，报4,649.27点；纳斯达克指数涨0.52%，报15,704.30点。 热门中概股集体上涨 京东大涨逾8% <a href=\"https://laohu8.com/S/BABA\">$阿里巴巴(BABA)$</a>涨2.27%，京东涨8.31%，微博涨4.61%，<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>涨7.35%，<a href=\"https://laohu8.com/S/BILI\">$哔哩哔哩(BILI)$</a>涨4.33%，<a href=\"https://laohu8.com/S/BIDU\">$百度(BIDU)$</a>涨3.53%，<a href=\"https://laohu8.com/S/EDU\">$新东方(EDU)$</a>涨6.9%，<a href=\"https://laohu8.com/S/TAL\">$好未来(TAL)$</a>涨8.65%，<a href=\"https://laohu8.com/S/NTES\">$网易(NTE</a>","text":"摘要：美股涨跌不一，$迪士尼(DIS)$拖累道指下跌；热门中概股集体上涨，$京东(JD)$大涨逾8%；市值突破千亿！Rivian上市次日再度飙升；人造肉行业增长前景黯淡？Beyond Meat股价收跌逾13%；双11成绩单出炉：天猫5403亿元，京东超3491亿元>>> 收盘：美股涨跌不一 迪士尼拖累道指下跌 三大指数涨跌不一，标普500指数和纳指双双反弹，仅道指延续跌势，部分原因是迪士尼出现了一年多来最糟糕的单日表现。截至收盘，道琼斯指数跌0.44%，报35,921.23点；标普500指数涨0.06%，报4,649.27点；纳斯达克指数涨0.52%，报15,704.30点。 热门中概股集体上涨 京东大涨逾8% $阿里巴巴(BABA)$涨2.27%，京东涨8.31%，微博涨4.61%，$拼多多(PDD)$涨7.35%，$哔哩哔哩(BILI)$涨4.33%，$百度(BIDU)$涨3.53%，$新东方(EDU)$涨6.9%，$好未来(TAL)$涨8.65%，$网易(NTE","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/879075052","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2351,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":884178579,"gmtCreate":1631872762291,"gmtModify":1631887148146,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/884178579","repostId":"884171099","repostType":1,"repost":{"id":884171099,"gmtCreate":1631872592011,"gmtModify":1631884025491,"author":{"id":"3581837767503148","authorId":"3581837767503148","name":"Huatchin","avatar":"https://static.tigerbbs.com/88efb7897819cfa26b956823fee031a1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581837767503148","authorIdStr":"3581837767503148"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/DIS\">$Walt Disney(DIS)$</a>To the moon","listText":"<a href=\"https://laohu8.com/S/DIS\">$Walt Disney(DIS)$</a>To the moon","text":"$Walt Disney(DIS)$To the moon","images":[{"img":"https://static.tigerbbs.com/160d29ba47aefd17035b06d039e9625b","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/884171099","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1691,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882406837,"gmtCreate":1631713063129,"gmtModify":1631887148159,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Didi when u can wake up huh?","listText":"Didi when u can wake up huh?","text":"Didi when u can wake up huh?","images":[{"img":"https://static.tigerbbs.com/e172e3b813a8ad28fd34e44d48a0ca47","width":"750","height":"821"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/882406837","isVote":1,"tweetType":1,"viewCount":2016,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":882401713,"gmtCreate":1631713012732,"gmtModify":1631887148173,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Didi when u can wake up huh?","listText":"Didi when u can wake up huh?","text":"Didi when u can wake up huh?","images":[{"img":"https://static.tigerbbs.com/e172e3b813a8ad28fd34e44d48a0ca47","width":"750","height":"821"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/882401713","isVote":1,"tweetType":1,"viewCount":1937,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":141136993,"gmtCreate":1625841430312,"gmtModify":1631887148189,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/141136993","repostId":"1173374462","repostType":4,"repost":{"id":"1173374462","kind":"news","pubTimestamp":1625840008,"share":"https://www.laohu8.com/m/news/1173374462?lang=zh_CN&edition=full","pubTime":"2021-07-09 22:13","market":"us","language":"en","title":"Meme Stocks Like GameStop and AMC Reflect Market Reality<blockquote>游戏驿站和AMC等模因股票反映了市场现实</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173374462","media":"Thestreet","summary":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment","content":"<p>Gamestop&nbsp;(<b>GME</b>)&nbsp;made some investors rich… and then it broke many more. Investing in AMC Entertainment&nbsp;(<b>AMC</b>)&nbsp;did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.</p><p><blockquote>游戏驿站(<b>GME</b>）让一些投资者变得富有……然后又破产了更多。投资AMC院线（<b>AMC</b>）做了完全相同的事情。这两只股票即使不是失败的企业，也至少代表了陷入困境的企业；甚至在大流行之前就努力跟上新经济的公司就关闭了大部分新经济。然而，在过去的几个月里，他们公布了市场上一些最不稳定的收益和损失。</blockquote></p><p> How?</p><p><blockquote>如何？</blockquote></p><p> It’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?</p><p><blockquote>这取决于Real Money的Timothy Collins评级市场的“模因股票夸张”。但是，他写道，这真的与交易一直以来的运作方式有那么大的不同吗？</blockquote></p><p> Have you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?</p><p><blockquote>您是否真正想过“登月”或“信念购买”这两个短语，以及它们如何扰乱我们对公允价值的看法？</blockquote></p><p> \"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.</p><p><blockquote>“最初，我对继续使用‘去月球’这个词翻了个白眼，”柯林斯说。“例如，这不像‘强力买入，目标价为65美元’。‘登月’完全是任意的，可以进行解释，但话又说回来，当你仔细想想时，大多数关于估值的事情也是如此，”柯林斯写道。</blockquote></p><p> \"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.</p><p><blockquote>“例如，当分析师在一只股票上敲打桌子时，这与‘飞向月球’有什么不同？或者当有人说‘全押’时。他们真的全押了吗？他们是否兑现了所有资产，汇集了流动性，并尽可能地购买了每一股？可能不会。事实上，我会说绝对不是99.9999%的情况。当然，总有那么一个人，”柯林斯说。</blockquote></p><p> \"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"</p><p><blockquote>“但关键是，华尔街多年来一直是武断的。我们甚至不能有一个标准的评级系统。它是‘中性’还是‘持有’？说真的，我想持有只在你的范围中间的东西吗？不。”</blockquote></p><p> Collins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"</p><p><blockquote>柯林斯写道，“系统应该是‘买入’或‘卖出’。就是这样。黑或白。拥有或不拥有。”</blockquote></p><p> Assets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.</p><p><blockquote>像游戏驿站甚至加密货币这样的资产似乎只不过是纯粹的情绪在出售。投资者正在享受这些产品，这往往会导致价格飞涨。</blockquote></p><p> That’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.</p><p><blockquote>诚然，这很令人困惑。只是，在你举手之前，重要的是要记住股票市场总是至少有一点武断。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Meme Stocks Like GameStop and AMC Reflect Market Reality<blockquote>游戏驿站和AMC等模因股票反映了市场现实</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\">\nMeme Stocks Like GameStop and AMC Reflect Market Reality<blockquote>游戏驿站和AMC等模因股票反映了市场现实</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-09 22:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Gamestop&nbsp;(<b>GME</b>)&nbsp;made some investors rich… and then it broke many more. Investing in AMC Entertainment&nbsp;(<b>AMC</b>)&nbsp;did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.</p><p><blockquote>游戏驿站(<b>GME</b>）让一些投资者变得富有……然后又破产了更多。投资AMC院线（<b>AMC</b>）做了完全相同的事情。这两只股票即使不是失败的企业，也至少代表了陷入困境的企业；甚至在大流行之前就努力跟上新经济的公司就关闭了大部分新经济。然而，在过去的几个月里，他们公布了市场上一些最不稳定的收益和损失。</blockquote></p><p> How?</p><p><blockquote>如何？</blockquote></p><p> It’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?</p><p><blockquote>这取决于Real Money的Timothy Collins评级市场的“模因股票夸张”。但是，他写道，这真的与交易一直以来的运作方式有那么大的不同吗？</blockquote></p><p> Have you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?</p><p><blockquote>您是否真正想过“登月”或“信念购买”这两个短语，以及它们如何扰乱我们对公允价值的看法？</blockquote></p><p> \"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.</p><p><blockquote>“最初，我对继续使用‘去月球’这个词翻了个白眼，”柯林斯说。“例如，这不像‘强力买入，目标价为65美元’。‘登月’完全是任意的，可以进行解释，但话又说回来，当你仔细想想时，大多数关于估值的事情也是如此，”柯林斯写道。</blockquote></p><p> \"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.</p><p><blockquote>“例如，当分析师在一只股票上敲打桌子时，这与‘飞向月球’有什么不同？或者当有人说‘全押’时。他们真的全押了吗？他们是否兑现了所有资产，汇集了流动性，并尽可能地购买了每一股？可能不会。事实上，我会说绝对不是99.9999%的情况。当然，总有那么一个人，”柯林斯说。</blockquote></p><p> \"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"</p><p><blockquote>“但关键是，华尔街多年来一直是武断的。我们甚至不能有一个标准的评级系统。它是‘中性’还是‘持有’？说真的，我想持有只在你的范围中间的东西吗？不。”</blockquote></p><p> Collins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"</p><p><blockquote>柯林斯写道，“系统应该是‘买入’或‘卖出’。就是这样。黑或白。拥有或不拥有。”</blockquote></p><p> Assets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.</p><p><blockquote>像游戏驿站甚至加密货币这样的资产似乎只不过是纯粹的情绪在出售。投资者正在享受这些产品，这往往会导致价格飞涨。</blockquote></p><p> That’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.</p><p><blockquote>诚然，这很令人困惑。只是，在你举手之前，重要的是要记住股票市场总是至少有一点武断。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","GME":"游戏驿站"},"source_url":"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173374462","content_text":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment (AMC) did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.\nHow?\nIt’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?\nHave you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?\n\"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.\n\"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.\n\"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"\nCollins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"\nAssets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.\nThat’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.","news_type":1,"symbols_score_info":{"AMC":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":1908,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141131771,"gmtCreate":1625841406893,"gmtModify":1631887148199,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/141131771","repostId":"1107084554","repostType":4,"isVote":1,"tweetType":1,"viewCount":2387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140068064,"gmtCreate":1625620072858,"gmtModify":1631887148212,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140068064","repostId":"157208445","repostType":1,"repost":{"id":157208445,"gmtCreate":1625582178887,"gmtModify":1625582178887,"author":{"id":"39105730803552","authorId":"39105730803552","name":"格隆汇","avatar":"https://static.tigerbbs.com/8774dfe20eceb38c9645128bb6e60684","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"39105730803552","authorIdStr":"39105730803552"},"themes":[],"title":"超百倍认购的朝聚眼科（2219.HK）暗盘收涨，首秀表现值得期待","htmlText":"华北地区领先、全国知名的眼科医疗服务集团朝聚眼科于7月6日公布招股结果。据公告所示，朝聚眼科公开发售部分录得113.97倍认购倍数，国际配售部分所获约17.83倍认购倍数，加上公司是次IPO招股价最终以10.60港元的招股区间上限定价，以上数据均可直接反映出公司受到市场热捧的情况。朝聚眼科IPO引入基石投资者包括富国基金、Gigantic Wealth、The Valliance Fund及通柏资本(香港)，合共认购7,467.45万股股份，占经回拨后国际配售约87.4%比例，由此可见无论散户还是机构，在招股阶段对公司“筹码”的需求远大于供给，朝聚眼科股票的“抢手”程度可见一斑。在公布招股结果的同日，朝聚眼科在暗盘交易时段最终以4.15%涨幅报收，更为其在7月7日在联交所主板挂牌上市营造了良好的气氛。加之近期的港股新股市场赚钱效益或已逐步显现，时代天使、森松国际和和黄医药的首日上市大涨，更刷新了近年的记录，例如森松国际成为港股近三年来首日涨幅最高的个股。这些典型的案例说明了香港新股市场的赚钱效应再次回归。因此，仍有机会带动近期上市新股的股价表现。综合上述判断，兼具好赛道、好公司两大看涨潜力因子的朝聚眼科，在挂牌亮相资本市场的首秀中取得好的表现，相信将会是大概率的事件。千亿规模级别的细分市场潜力，对应千亿市值公司与至少十倍以上的增长空间眼科领域凭借着市场空间广阔，进入壁垒高，一直都被认为是医疗健康行业中的黄金赛道。随着我国老龄化程度加深，工作强度增大，生活方式转变，用眼不到等因素影响，患有各种眼科疾病的人数逐年升高，眼科治疗需求急剧增加，导致眼科市场出现快速增长。根据Frost &amp; Sullivan数据统计显示，中国眼科医疗服务市场在2019年已经达到1,275亿元，预计2024年将达到2,231亿元。其中，民营医疗机构**国眼科医疗服务市场的份额提升至31.7%，对","listText":"华北地区领先、全国知名的眼科医疗服务集团朝聚眼科于7月6日公布招股结果。据公告所示，朝聚眼科公开发售部分录得113.97倍认购倍数，国际配售部分所获约17.83倍认购倍数，加上公司是次IPO招股价最终以10.60港元的招股区间上限定价，以上数据均可直接反映出公司受到市场热捧的情况。朝聚眼科IPO引入基石投资者包括富国基金、Gigantic Wealth、The Valliance Fund及通柏资本(香港)，合共认购7,467.45万股股份，占经回拨后国际配售约87.4%比例，由此可见无论散户还是机构，在招股阶段对公司“筹码”的需求远大于供给，朝聚眼科股票的“抢手”程度可见一斑。在公布招股结果的同日，朝聚眼科在暗盘交易时段最终以4.15%涨幅报收，更为其在7月7日在联交所主板挂牌上市营造了良好的气氛。加之近期的港股新股市场赚钱效益或已逐步显现，时代天使、森松国际和和黄医药的首日上市大涨，更刷新了近年的记录，例如森松国际成为港股近三年来首日涨幅最高的个股。这些典型的案例说明了香港新股市场的赚钱效应再次回归。因此，仍有机会带动近期上市新股的股价表现。综合上述判断，兼具好赛道、好公司两大看涨潜力因子的朝聚眼科，在挂牌亮相资本市场的首秀中取得好的表现，相信将会是大概率的事件。千亿规模级别的细分市场潜力，对应千亿市值公司与至少十倍以上的增长空间眼科领域凭借着市场空间广阔，进入壁垒高，一直都被认为是医疗健康行业中的黄金赛道。随着我国老龄化程度加深，工作强度增大，生活方式转变，用眼不到等因素影响，患有各种眼科疾病的人数逐年升高，眼科治疗需求急剧增加，导致眼科市场出现快速增长。根据Frost &amp; Sullivan数据统计显示，中国眼科医疗服务市场在2019年已经达到1,275亿元，预计2024年将达到2,231亿元。其中，民营医疗机构**国眼科医疗服务市场的份额提升至31.7%，对","text":"华北地区领先、全国知名的眼科医疗服务集团朝聚眼科于7月6日公布招股结果。据公告所示，朝聚眼科公开发售部分录得113.97倍认购倍数，国际配售部分所获约17.83倍认购倍数，加上公司是次IPO招股价最终以10.60港元的招股区间上限定价，以上数据均可直接反映出公司受到市场热捧的情况。朝聚眼科IPO引入基石投资者包括富国基金、Gigantic Wealth、The Valliance Fund及通柏资本(香港)，合共认购7,467.45万股股份，占经回拨后国际配售约87.4%比例，由此可见无论散户还是机构，在招股阶段对公司“筹码”的需求远大于供给，朝聚眼科股票的“抢手”程度可见一斑。在公布招股结果的同日，朝聚眼科在暗盘交易时段最终以4.15%涨幅报收，更为其在7月7日在联交所主板挂牌上市营造了良好的气氛。加之近期的港股新股市场赚钱效益或已逐步显现，时代天使、森松国际和和黄医药的首日上市大涨，更刷新了近年的记录，例如森松国际成为港股近三年来首日涨幅最高的个股。这些典型的案例说明了香港新股市场的赚钱效应再次回归。因此，仍有机会带动近期上市新股的股价表现。综合上述判断，兼具好赛道、好公司两大看涨潜力因子的朝聚眼科，在挂牌亮相资本市场的首秀中取得好的表现，相信将会是大概率的事件。千亿规模级别的细分市场潜力，对应千亿市值公司与至少十倍以上的增长空间眼科领域凭借着市场空间广阔，进入壁垒高，一直都被认为是医疗健康行业中的黄金赛道。随着我国老龄化程度加深，工作强度增大，生活方式转变，用眼不到等因素影响，患有各种眼科疾病的人数逐年升高，眼科治疗需求急剧增加，导致眼科市场出现快速增长。根据Frost & Sullivan数据统计显示，中国眼科医疗服务市场在2019年已经达到1,275亿元，预计2024年将达到2,231亿元。其中，民营医疗机构**国眼科医疗服务市场的份额提升至31.7%，对","images":[],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/157208445","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2997,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157983268,"gmtCreate":1625559781954,"gmtModify":1631887148234,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Noted","listText":"Noted","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/157983268","repostId":"2149466331","repostType":4,"isVote":1,"tweetType":1,"viewCount":2169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159541940,"gmtCreate":1624975363480,"gmtModify":1631887148239,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159541940","repostId":"2147868644","repostType":4,"repost":{"id":"2147868644","kind":"highlight","pubTimestamp":1624969959,"share":"https://www.laohu8.com/m/news/2147868644?lang=zh_CN&edition=full","pubTime":"2021-06-29 20:32","market":"us","language":"en","title":"A big market transition is coming. Here's where investors should steer next, says this strategist.<blockquote>一场大的市场转型即将到来。这位策略师表示，这是投资者下一步应该转向的方向。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2147868644","media":"MarketWatch","summary":"The COVID-19 delta variant is starting to look like the killjoy of summer.\nSo far, U.S. stocks haven","content":"<p>The COVID-19 delta variant is starting to look like the killjoy of summer.</p><p><blockquote>新冠肺炎德尔塔变异毒株开始看起来像夏天的扫兴。</blockquote></p><p> So far, U.S. stocks haven't seen a major response, even though Los Angeles is now suggesting masks indoors again. But given how the variant, first identified in India, has marched across some countries, a speed bump or two for the reopening trade over the next few months can't be ruled out, especially if those cases start to take hold in the U.S.</p><p><blockquote>到目前为止，美国股市还没有出现重大反应，尽管洛杉矶现在再次建议在室内戴口罩。但考虑到这种首先在印度发现的变种已经在一些国家蔓延，不能排除未来几个月重新开放贸易会遇到一两个减速带的可能性，特别是如果这些病例开始在美国发生的话。</blockquote></p><p> Onto our call of the day provided by Liz Young, head of investment strategy at SoFi , a mobile-first personal finance company. She says we are headed for a big market transition in the latter half of the year -- into calm waters and no big surprises.</p><p><blockquote>移动优先的个人金融公司SoFi的投资策略主管Liz Young提供了我们的每日看涨期权。她表示，我们将在今年下半年迎来一次重大的市场转型——进入平静的水域，不会出现大的意外。</blockquote></p><p> \"However, I think it's going to feel like we need to eke out a little bit of return and it might feel hard won,\" Young, former director of market strategy at BNY Mellon, told MarketWatch.</p><p><blockquote>纽约梅隆银行前市场策略总监杨告诉MarketWatch：“然而，我认为我们需要勉强获得一点回报，而且可能感觉来之不易。”</blockquote></p><p> Looking back to last year, she said investors got used to big double digit gains in parts of the market as it rebounded, and noted the S&amp;P 500 has already hit more than 30 records this year.</p><p><blockquote>回顾去年，她表示，随着市场反弹，投资者已经习惯了部分市场两位数的大幅上涨，并指出标普500今年已创下30多项纪录。</blockquote></p><p> \"What I see happening in the second half of this year is that we have to start making this transition from the policy support -- which has really gotten us to this point -- back to the fundamental and durable strength in the market, in corporations, in the economy. So the data will start to matter,\" said Young.</p><p><blockquote>“我认为今年下半年会发生的情况是，我们必须开始从政策支持（这确实让我们走到了这一步）转向市场、企业和经济的基本和持久实力。因此，数据将开始变得重要，”杨说。</blockquote></p><p> And the market is getting less and less impressed by super strong data, because that's what it has come to expect.</p><p><blockquote>市场对超级强劲的数据越来越不感兴趣，因为这是它所期待的。</blockquote></p><p> As for where to invest, she advises thinking in terms of the year and the economic cycle.</p><p><blockquote>至于在哪里投资，她建议根据年份和经济周期来思考。</blockquote></p><p> \"So I think for the rest of this year, we do see rates drift up, meaning the 10-year drifting upward, which should probably put some pressure on those high-growth stocks,\" Young said. She's not saying negative returns are coming, but said the move up in rates will revive the cyclical trade, benefitting value sectors. \"So that's where I would be looking.\"</p><p><blockquote>Young表示：“因此，我认为在今年剩余时间里，我们确实会看到利率上升，这意味着10年期利率上升，这可能会给那些高增长股票带来一些压力。”她并没有说负回报即将到来，但表示利率上升将重振周期性交易，使价值行业受益。“所以这就是我要找的地方。”</blockquote></p><p> As for the cycle, tech is still important because that sector is a \"bet on American prosperity for the long term and it's not going anywhere,\" and something she wouldn't \"trade in and out of for the rest of 2021.\"</p><p><blockquote>至于周期，科技仍然很重要，因为该行业是“对美国长期繁荣的押注，而且不会有任何进展”，而且她不会“在2021年剩余时间内进出”。</blockquote></p><p> She also sees continued improvement for small-cap stocks, given they were hardest hit in the pandemic and should keep bouncing back, with a healthy initial public offering market acting as a positive catalyst. European stocks, which are behind in that reopening trade, should also be a decent bet later in the year, notably as those indexes are rich in financials, which should benefit if global sovereign yields are headed higher.</p><p><blockquote>她还认为小盘股将持续改善，因为它们在疫情中受到的打击最严重，应该会继续反弹，健康的首次公开募股市场将成为积极的催化剂。在重新开放交易中落后的欧洲股市也应该是今年晚些时候的一个不错的赌注，特别是因为这些指数富含金融股，如果全球主权收益率走高，金融股应该会受益。</blockquote></p><p> Some final advice from Young has to do with trendy investments that have cropped up in the past year or so, such as meme stocks, crypto assets, special-purpose acquisition companies (SPACs), etc.</p><p><blockquote>Young的一些最后建议与过去一年左右出现的新潮投资有关，例如meme股票、加密资产、特殊目的收购公司（SPAC）等。</blockquote></p><p> As she advised in a recent blog post , while it's OK to invest in trendy assets, they shouldn't \"overwhelm the foundation of a durable portfolio, or cause you to redefine your risk tolerance just to 'get in the game.' \"</p><p><blockquote>正如她在最近的一篇博客文章中建议的那样，虽然投资时尚资产是可以的，但它们不应该“压倒持久投资组合的基础，或者让你为了‘参与游戏’而重新定义自己的风险承受能力。”</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>A big market transition is coming. Here's where investors should steer next, says this strategist.<blockquote>一场大的市场转型即将到来。这位策略师表示，这是投资者下一步应该转向的方向。</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\">\nA big market transition is coming. Here's where investors should steer next, says this strategist.<blockquote>一场大的市场转型即将到来。这位策略师表示，这是投资者下一步应该转向的方向。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-29 20:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The COVID-19 delta variant is starting to look like the killjoy of summer.</p><p><blockquote>新冠肺炎德尔塔变异毒株开始看起来像夏天的扫兴。</blockquote></p><p> So far, U.S. stocks haven't seen a major response, even though Los Angeles is now suggesting masks indoors again. But given how the variant, first identified in India, has marched across some countries, a speed bump or two for the reopening trade over the next few months can't be ruled out, especially if those cases start to take hold in the U.S.</p><p><blockquote>到目前为止，美国股市还没有出现重大反应，尽管洛杉矶现在再次建议在室内戴口罩。但考虑到这种首先在印度发现的变种已经在一些国家蔓延，不能排除未来几个月重新开放贸易会遇到一两个减速带的可能性，特别是如果这些病例开始在美国发生的话。</blockquote></p><p> Onto our call of the day provided by Liz Young, head of investment strategy at SoFi , a mobile-first personal finance company. She says we are headed for a big market transition in the latter half of the year -- into calm waters and no big surprises.</p><p><blockquote>移动优先的个人金融公司SoFi的投资策略主管Liz Young提供了我们的每日看涨期权。她表示，我们将在今年下半年迎来一次重大的市场转型——进入平静的水域，不会出现大的意外。</blockquote></p><p> \"However, I think it's going to feel like we need to eke out a little bit of return and it might feel hard won,\" Young, former director of market strategy at BNY Mellon, told MarketWatch.</p><p><blockquote>纽约梅隆银行前市场策略总监杨告诉MarketWatch：“然而，我认为我们需要勉强获得一点回报，而且可能感觉来之不易。”</blockquote></p><p> Looking back to last year, she said investors got used to big double digit gains in parts of the market as it rebounded, and noted the S&amp;P 500 has already hit more than 30 records this year.</p><p><blockquote>回顾去年，她表示，随着市场反弹，投资者已经习惯了部分市场两位数的大幅上涨，并指出标普500今年已创下30多项纪录。</blockquote></p><p> \"What I see happening in the second half of this year is that we have to start making this transition from the policy support -- which has really gotten us to this point -- back to the fundamental and durable strength in the market, in corporations, in the economy. So the data will start to matter,\" said Young.</p><p><blockquote>“我认为今年下半年会发生的情况是，我们必须开始从政策支持（这确实让我们走到了这一步）转向市场、企业和经济的基本和持久实力。因此，数据将开始变得重要，”杨说。</blockquote></p><p> And the market is getting less and less impressed by super strong data, because that's what it has come to expect.</p><p><blockquote>市场对超级强劲的数据越来越不感兴趣，因为这是它所期待的。</blockquote></p><p> As for where to invest, she advises thinking in terms of the year and the economic cycle.</p><p><blockquote>至于在哪里投资，她建议根据年份和经济周期来思考。</blockquote></p><p> \"So I think for the rest of this year, we do see rates drift up, meaning the 10-year drifting upward, which should probably put some pressure on those high-growth stocks,\" Young said. She's not saying negative returns are coming, but said the move up in rates will revive the cyclical trade, benefitting value sectors. \"So that's where I would be looking.\"</p><p><blockquote>Young表示：“因此，我认为在今年剩余时间里，我们确实会看到利率上升，这意味着10年期利率上升，这可能会给那些高增长股票带来一些压力。”她并没有说负回报即将到来，但表示利率上升将重振周期性交易，使价值行业受益。“所以这就是我要找的地方。”</blockquote></p><p> As for the cycle, tech is still important because that sector is a \"bet on American prosperity for the long term and it's not going anywhere,\" and something she wouldn't \"trade in and out of for the rest of 2021.\"</p><p><blockquote>至于周期，科技仍然很重要，因为该行业是“对美国长期繁荣的押注，而且不会有任何进展”，而且她不会“在2021年剩余时间内进出”。</blockquote></p><p> She also sees continued improvement for small-cap stocks, given they were hardest hit in the pandemic and should keep bouncing back, with a healthy initial public offering market acting as a positive catalyst. European stocks, which are behind in that reopening trade, should also be a decent bet later in the year, notably as those indexes are rich in financials, which should benefit if global sovereign yields are headed higher.</p><p><blockquote>她还认为小盘股将持续改善，因为它们在疫情中受到的打击最严重，应该会继续反弹，健康的首次公开募股市场将成为积极的催化剂。在重新开放交易中落后的欧洲股市也应该是今年晚些时候的一个不错的赌注，特别是因为这些指数富含金融股，如果全球主权收益率走高，金融股应该会受益。</blockquote></p><p> Some final advice from Young has to do with trendy investments that have cropped up in the past year or so, such as meme stocks, crypto assets, special-purpose acquisition companies (SPACs), etc.</p><p><blockquote>Young的一些最后建议与过去一年左右出现的新潮投资有关，例如meme股票、加密资产、特殊目的收购公司（SPAC）等。</blockquote></p><p> As she advised in a recent blog post , while it's OK to invest in trendy assets, they shouldn't \"overwhelm the foundation of a durable portfolio, or cause you to redefine your risk tolerance just to 'get in the game.' \"</p><p><blockquote>正如她在最近的一篇博客文章中建议的那样，虽然投资时尚资产是可以的，但它们不应该“压倒持久投资组合的基础，或者让你为了‘参与游戏’而重新定义自己的风险承受能力。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/a-big-market-transition-is-coming-heres-where-investors-should-steer-next-says-this-strategist-11624964589?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",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/a-big-market-transition-is-coming-heres-where-investors-should-steer-next-says-this-strategist-11624964589?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147868644","content_text":"The COVID-19 delta variant is starting to look like the killjoy of summer.\nSo far, U.S. stocks haven't seen a major response, even though Los Angeles is now suggesting masks indoors again. But given how the variant, first identified in India, has marched across some countries, a speed bump or two for the reopening trade over the next few months can't be ruled out, especially if those cases start to take hold in the U.S.\nOnto our call of the day provided by Liz Young, head of investment strategy at SoFi , a mobile-first personal finance company. She says we are headed for a big market transition in the latter half of the year -- into calm waters and no big surprises.\n\"However, I think it's going to feel like we need to eke out a little bit of return and it might feel hard won,\" Young, former director of market strategy at BNY Mellon, told MarketWatch.\nLooking back to last year, she said investors got used to big double digit gains in parts of the market as it rebounded, and noted the S&P 500 has already hit more than 30 records this year.\n\"What I see happening in the second half of this year is that we have to start making this transition from the policy support -- which has really gotten us to this point -- back to the fundamental and durable strength in the market, in corporations, in the economy. So the data will start to matter,\" said Young.\nAnd the market is getting less and less impressed by super strong data, because that's what it has come to expect.\nAs for where to invest, she advises thinking in terms of the year and the economic cycle.\n\"So I think for the rest of this year, we do see rates drift up, meaning the 10-year drifting upward, which should probably put some pressure on those high-growth stocks,\" Young said. She's not saying negative returns are coming, but said the move up in rates will revive the cyclical trade, benefitting value sectors. \"So that's where I would be looking.\"\nAs for the cycle, tech is still important because that sector is a \"bet on American prosperity for the long term and it's not going anywhere,\" and something she wouldn't \"trade in and out of for the rest of 2021.\"\nShe also sees continued improvement for small-cap stocks, given they were hardest hit in the pandemic and should keep bouncing back, with a healthy initial public offering market acting as a positive catalyst. European stocks, which are behind in that reopening trade, should also be a decent bet later in the year, notably as those indexes are rich in financials, which should benefit if global sovereign yields are headed higher.\nSome final advice from Young has to do with trendy investments that have cropped up in the past year or so, such as meme stocks, crypto assets, special-purpose acquisition companies (SPACs), etc.\nAs she advised in a recent blog post , while it's OK to invest in trendy assets, they shouldn't \"overwhelm the foundation of a durable portfolio, or cause you to redefine your risk tolerance just to 'get in the game.' \"","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2059,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127174405,"gmtCreate":1624841665407,"gmtModify":1631887148255,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127174405","repostId":"1184001921","repostType":4,"repost":{"id":"1184001921","kind":"news","pubTimestamp":1624763737,"share":"https://www.laohu8.com/m/news/1184001921?lang=zh_CN&edition=full","pubTime":"2021-06-27 11:15","market":"us","language":"en","title":"Amazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184001921","media":"seekingalpha","summary":"Summary\n\nAmazon is one of the most innovative companies in the world today, leading the E-commerce i","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Amazon is one of the most innovative companies in the world today, leading the E-commerce industry and cloud computing services.</li>  <li>Unfortunately, it's a little overpriced. This is consistent with some of the other mega-cap stocks I've analyzed.</li>  <li>This article looks at what Amazon stock is most likely worth for us investors.</li>  <li>I hope you enjoy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/451bc93115fb453c0fcb76434c40f7f4\" tg-width=\"1536\" tg-height=\"1024\"><span>Sundry Photography/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>亚马逊是当今世界最具创新力的公司之一，在电子商务行业和云计算服务领域处于领先地位。</li><li>不幸的是，它的价格有点过高。这与我分析过的其他一些大型股是一致的。</li><li>本文探讨了亚马逊股票对美国投资者来说最有可能的价值。</li><li>我希望你喜欢。</li></ul><p class=\"t-img-caption\"><span>杂项摄影/iStock社论来自Getty Images</span></p></blockquote></p><p> Today, Amazon (AMZN) seems to be a little overpriced based on my intrinsic value model.</p><p><blockquote>今天，根据我的内在价值模型，亚马逊（AMZN）的定价似乎有点过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a82d937a2de3f0709088e1ab4548267b\" tg-width=\"371\" tg-height=\"260\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> You might have seen some of my other articles where I've bashed other popular stocks like Apple (AAPL) or Microsoft (MSFT). Well, I guess today it's Amazon's turn. I just try to share what I think companies are worth, and I've found that a lot of companies seem to be overpriced.</p><p><blockquote>您可能已经看过我的其他一些文章，其中我抨击了苹果(AAPL)或微软(MSFT)等其他热门股票。嗯，我想今天轮到亚马逊了。我只是试图分享我认为公司的价值，我发现很多公司似乎定价过高。</blockquote></p><p> In this article, I'll break down how I came up with Amazon's valuation. I know that there's tons of different opinions out there about Amazon, so I'll try to share the reasoning behind my valuation to help you make better investments in the future.</p><p><blockquote>在本文中，我将详细介绍我是如何得出亚马逊估值的。我知道关于亚马逊有很多不同的观点，所以我会尝试分享我的估值背后的理由，以帮助您在未来进行更好的投资。</blockquote></p><p> Something important you should know - I'm not an expert on Amazon, and I have a really difficult time valuing growth stocks. I really doubt that I have the ability to estimate a company's future growth. I made future growth estimates by looking at past growth and making conservative estimates of the future.</p><p><blockquote>你应该知道一些重要的事情——我不是亚马逊专家，我很难评估成长型股票。我真的很怀疑我有能力估计一家公司未来的增长。我通过查看过去的增长并对未来做出保守的估计来做出未来的增长估计。</blockquote></p><p> This method borders on \"data extrapolation\", which is making assumptions based on past data. Data extrapolation isn't great because the future is different from the past - so making future projections based on past data isn't ideal.</p><p><blockquote>这种方法近乎“数据外推”，即根据过去的数据做出假设。数据外推并不好，因为未来与过去不同——所以根据过去的数据进行未来预测并不理想。</blockquote></p><p> But after valuing hundreds of companies, I've found that this kind of style does a good job of getting the valuation approximately right. I always try to set my valuations low, because it's better to buy low and make a killing than buy high and lose money.</p><p><blockquote>但在对数百家公司进行估值后，我发现这种风格可以很好地获得大致正确的估值。我总是尽量把我的估值定低，因为低买大赚总比高买亏好。</blockquote></p><p>   Warren Buffett said, “The three most important words in investing are  <b>margin of safety</b>.” That means to buy stuff on sale... That's the whole secret to great investing.    Rule 1 Investing  This model is built on getting the valuation \"approximately right,\" and looking to buy with a large margin of safety. I hope you enjoy, and as always, I'll try to keep it clean and common sense.</p><p><blockquote>沃伦·巴菲特说：“投资中最重要的三个词是<b>安全边际</b>意思是买打折的东西....这就是伟大投资的全部秘密。规则1投资该模型的基础是获得“大致正确”的估值，并寻求以较大的安全边际进行购买。我希望你喜欢，一如既往，我会尽量保持它的干净和常识。</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Where does Amazon get its money? Amazon is split into 3 segments: North America, International, and AWS.</p><p><blockquote>亚马逊的钱从哪里来？亚马逊分为3个部分：北美、国际和AWS。</blockquote></p><p> As a market leader in 2 high growth industries (E-commerce and cloud computing), Amazon will probably continue to see high growth in the future. In this section, I looked at the past revenue growth and operating margins for each of Amazon's segments, and I used this to make conservative future projections.</p><p><blockquote>作为两个高增长行业（电子商务和云计算）的市场领导者，亚马逊未来可能会继续实现高增长。在本节中，我研究了亚马逊每个部门过去的收入增长和营业利润率，并以此做出保守的未来预测。</blockquote></p><p> And later, I added up the numbers from each segment to make projections for the whole company. Here's a look at AMZN's North America segment. This segment's revenue comes from retail sales and subscription service revenues.</p><p><blockquote>后来，我把每个部门的数字加起来，对整个公司进行预测。以下是亚马逊北美业务的概况。该部门的收入来自零售销售和订阅服务收入。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce022c0ecacc3829cf83378211bbfd9d\" tg-width=\"640\" tg-height=\"192\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> I projected declining revenue growth and strong operating margins for this segment. I projected slower revenue growth, because I figure there has to be a cap on how much money Amazon can make in North America.</p><p><blockquote>我预计该部门的收入增长将下降，营业利润率将强劲。我预计收入增长会放缓，因为我认为亚马逊在北美的收入必须有一个上限。</blockquote></p><p> Hopefully, Amazon will exceed this revenue growth. But, I do think it would be a pretty incredible feat for Amazon to grow from $200B in revenue to $400B in 5 years.</p><p><blockquote>希望亚马逊能够超过这一收入增长。但是，我确实认为亚马逊在5年内将收入从2000亿美元增长到4000亿美元将是一个非常令人难以置信的壮举。</blockquote></p><p> Here's a look at Amazon's International segment:</p><p><blockquote>以下是亚马逊国际部门的概况：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3d7a5bde370f55e863f58c888abc496\" tg-width=\"640\" tg-height=\"219\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> For Amazon's international segment, I projected 20% annual revenue growth, and improving operating margins. I figured that operating margins would gradually improve until the margins reached a similar point to what Amazon sees in its US segment.</p><p><blockquote>对于亚马逊的国际部门，我预计年收入将增长20%，营业利润率也将提高。我认为营业利润率将逐渐提高，直到利润率达到与亚马逊在美国市场类似的水平。</blockquote></p><p> And for Amazon's last and most exciting segment, here's AWS:</p><p><blockquote>对于亚马逊最后也是最令人兴奋的部分，AWS是：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/769700013871f2cd09e8ce47cfb10966\" tg-width=\"640\" tg-height=\"203\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> AWS is undoubtedly going to bring high growth for Amazon, and high profits. I projected that the AWS segment will probably continue to grow at a high rate. I projected a 25-30% annual revenue growth rate because cloud computing has a lot of room to grow, and according to Research and Markets, the cloud computing industry should grow at about&nbsp;17.5% CAGR&nbsp;until 2025.</p><p><blockquote>AWS无疑将为亚马逊带来高增长和高利润。我预计AWS细分市场可能会继续高速增长。我预测25-30%的年收入增长率，因为云计算有很大的增长空间，根据研究和市场，云计算行业应该以17.5%的CAGR增长，直到2025年。</blockquote></p><p></p><p> Additionally, I projected 28% operating margins, because the AWS business benefits from operating leverage. As more people use the software, the company is able to make higher margins as it spreads costs over more people. It's possible that Amazon could exceed 28% operating margins, so there might be upside to Amazon's fair value.</p><p><blockquote>此外，我预计营业利润率为28%，因为AWS业务受益于运营杠杆。随着越来越多的人使用该软件，该公司能够通过将成本分摊给更多的人来获得更高的利润。亚马逊的营业利润率可能会超过28%，因此亚马逊的公允价值可能会有上升空间。</blockquote></p><p> These projections were added together to help us figure out what the entire company should be worth.</p><p><blockquote>这些预测加在一起有助于我们计算出整个公司的价值。</blockquote></p><p> <b>Capital Allocation</b></p><p><blockquote><b>资本配置</b></blockquote></p><p> How does Amazon spend its money? You might find it interesting to analyze Amazon's capital allocation, so you can see what Amazon does with its money, and where it might be investing for the future.</p><p><blockquote>亚马逊是怎么花钱的？你可能会发现分析亚马逊的资本配置很有趣，这样你就可以看到亚马逊用它的钱做了什么，以及它未来可能投资到哪里。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45f5afa0f641ee1aae39aa69cc150165\" tg-width=\"619\" tg-height=\"499\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> The biggest portion of Amazon's operating cash flows goes towards capital expenditures. From what I can tell, Amazon has not had any share activity over the past 5 years. The company has issued shares - but from the looks of the cash flow statement, it looks like they haven't raised any money from selling shares, and they haven't spent any money buying back shares.</p><p><blockquote>亚马逊运营现金流的最大部分用于资本支出。据我所知，亚马逊在过去5年里没有任何分享活动。该公司已经发行了股票——但从现金流量表来看，他们似乎没有通过出售股票筹集到任何资金，也没有花任何钱回购股票。</blockquote></p><p>   In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration.  <i>There were no repurchases of common stock in 2018, 2019, or 2020.</i>    Source:2020 10-K&nbsp;page 60,  <i>emphasis added</i>  But for our purposes, this quote shows that Amazon hasn't bought back any stock over the past 3 years. They also haven't spent any money on dividends, which is good because they're a high growth company.</p><p><blockquote>2016年2月，董事会批准了一项回购最多50亿美元普通股的计划，没有固定到期日。<i>2018年、2019年或2020年没有回购普通股。</i>资料来源：2020 10-K第60页，<i>增加了强调</i>但就我们而言，这段报价表明亚马逊在过去3年中没有回购任何股票。他们也没有在股息上花任何钱，这很好，因为他们是一家高增长公司。</blockquote></p><p> Amazon has consistently spent money on acquisitions and paying down debt. What's really interesting is that Amazon has built up a lot of spare cash over the past 5 years. Their cash position has risen about $58B since 2016, going from about $26B at the end of 2016 to about $84B at the end of 2020.</p><p><blockquote>亚马逊一直在收购和偿还债务上花钱。真正有趣的是，亚马逊在过去5年里积累了大量闲钱。自2016年以来，他们的现金头寸增加了约580亿美元，从2016年底的约260亿美元增加到2020年底的约840亿美元。</blockquote></p><p> Amazon has a lot more cash than they used to, so we could see future spending go towards a dividend, share buybacks, new acquisitions, or maybe more business investments that will lead to growth.</p><p><blockquote>亚马逊拥有比以前多得多的现金，因此我们可以看到未来的支出将用于股息、股票回购、新收购，或者更多将带来增长的商业投资。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> First, I used a discount rate of 7.7% for Amazon because that's what I found the company's weighted average cost of capital, or WACC, to be. I assumed an 8% cost of equity, and Amazon has averaged somewhere around a 20-30% tax rate over the past 10 years.</p><p><blockquote>首先，我对亚马逊使用了7.7%的贴现率，因为这是我发现该公司的加权平均资本成本(WACC)。我假设股权成本为8%，而亚马逊在过去10年中的平均税率约为20-30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c036264f19bb10fdad477a629b40f803\" tg-width=\"361\" tg-height=\"288\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> I used a DCF model to find Amazon's value today. In the model down below, you can see in the top 2 red boxes that I projected that the company would have lower revenue growth and strong operating margins.</p><p><blockquote>我今天用DCF模型找到了亚马逊的价值。在下面的模型中，您可以在顶部2个红框中看到，我预计该公司的收入增长将较低，营业利润率将强劲。</blockquote></p><p> This model projects that Amazon will have over $850B in revenue by 2025. That's absolutely nuts if you think about it, but based on estimated revenue growth, it seems feasible.</p><p><blockquote>该模型预计，到2025年，亚马逊的收入将超过8500亿美元。如果你仔细想想，这绝对是疯狂的，但根据估计的收入增长，这似乎是可行的。</blockquote></p><p> Right now, Walmart(NYSE:WMT)leads the world in revenue with about $550B. Amazon sits in third place for annual revenue, with about $390B. In 5 years, Amazon could easily have the largest revenue of any company in the world.</p><p><blockquote>目前，沃尔玛（纽约证券交易所股票代码：WMT）以约550B美元的收入领先全球。亚马逊的年收入排名第三，约为3900亿美元。5年后，亚马逊很可能成为世界上收入最高的公司。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95c459abcbda43e35b40379a1083ecae\" tg-width=\"640\" tg-height=\"510\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Down at the bottom of this model, you can see there's a red box that projects unlevered FCF margins. This basically measures how much of the company's revenue will become business profits, without including interest or debt payments. In the turquoise box, I applied the discount rate to see what the future cash flows are worth today.</p><p><blockquote>在该模型的底部，您可以看到有一个红色框，显示无杠杆自由现金流利润率。这基本上衡量了公司收入中有多少将成为业务利润，不包括利息或债务支付。在绿松石盒子中，我应用了贴现率来查看未来现金流今天的价值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3fa0846616fdc847a3fe1fdf7a09bed\" tg-width=\"267\" tg-height=\"404\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Today, it looks like Amazon is slightly overvalued. The model projects that the stock might be about 15% overvalued, and we could expect to make about 5% annual returns over the next 5 years if we invested today.</p><p><blockquote>如今，亚马逊的估值似乎略有高估。该模型预测该股票可能被高估约15%，如果我们今天投资，我们预计未来5年的年回报率约为5%。</blockquote></p><p> These estimations are based on the future cash flows that the business should generate. I don't hate Amazon or anything, I just don't think that Amazon stock would make a great investment at current prices.</p><p><blockquote>该等估计乃基于业务应产生的未来现金流量。我并不讨厌亚马逊或任何东西，我只是不认为亚马逊股票在当前价格下会是一项伟大的投资。</blockquote></p><p> Down at the bottom, I threw in 2 \"Buy Prices\" where Amazon stock might be more appealing. The idea behind this is that the cheaper AMZN stock gets, the higher returns we can expect.</p><p><blockquote>在底部，我提出了两个亚马逊股票可能更有吸引力的“买入价格”。这背后的想法是，AMZN股票越便宜，我们可以预期的回报就越高。</blockquote></p><p> The model projects that you'd make around 15% annual returns at $2,200 per share, and you might make around 22% annual returns at $1,700 per share.</p><p><blockquote>该模型预计，每股2,200美元的年回报率约为15%，每股1,700美元的年回报率约为22%。</blockquote></p><p> \"But doesn't it seem unreasonable to set the buy price in the $2,000s when the stock's trading near $3,500?\" It does a little bit. It seems pretty unlikely that Amazon's share price will nose dive right down past $2,000.</p><p><blockquote>“但当股票交易价格接近3,500美元时，将买入价格定为2,000美元似乎不合理吗？”有一点。亚马逊的股价似乎不太可能暴跌至2,000美元以上。</blockquote></p><p></p><p> But the idea is, if we're patient, we might get an opportunity to buy these shares underpriced. Last February, Amazon traded lower than $1,900 (I wish I bought some back then). We'll probably have opportunities in the future to buy Amazon at a discount.</p><p><blockquote>但我们的想法是，如果我们有耐心，我们可能有机会以低价购买这些股票。去年2月，亚马逊的交易价格低于1,900美元（我希望当时买了一些）。我们将来可能有机会以折扣价购买亚马逊。</blockquote></p><p> <b>Recap</b></p><p><blockquote><b>回顾</b></blockquote></p><p> Today, it seems like Amazon is slightly overvalued, because it seems to offer about 5% annual returns over the next 5 years. That doesn't mean you should sell Amazon if you're a long time holder, because Amazon should continue to do well as a leader in E-commerce and cloud computing.</p><p><blockquote>如今，亚马逊的估值似乎略有高估，因为它似乎在未来5年内提供约5%的年回报率。这并不意味着如果您是长期持有者，您应该出售亚马逊，因为亚马逊应该继续作为电子商务和云计算领域的领导者表现出色。</blockquote></p><p> But if you're looking for your next stock to invest in, Amazon seems to be too expensive right now. And if you've been eyeing Amazon for a while and you're looking to get in, now's not the best time to get into Amazon.</p><p><blockquote>但如果你正在寻找下一只投资股票，亚马逊现在似乎太贵了。如果您关注亚马逊已经有一段时间了，并且正在寻求进入，那么现在不是进入亚马逊的最佳时机。</blockquote></p><p> Even if we don't invest in the stock, we can still watch Amazon as they become the company with the most revenue in the world. And there's a lot we can learn from studying Amazon and Jeff Bezos. He's a smart dude.</p><p><blockquote>即使我们不投资该股票，我们仍然可以看到亚马逊成为世界上收入最多的公司。我们可以从研究亚马逊和杰夫·贝索斯中学到很多东西。他是个聪明人。</blockquote></p><p> Thank you very much for reading, and I hope that you have a great rest of your day.</p><p><blockquote>非常感谢您的阅读，我希望您今天休息得愉快。</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>Amazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</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\">\nAmazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-27 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Amazon is one of the most innovative companies in the world today, leading the E-commerce industry and cloud computing services.</li>  <li>Unfortunately, it's a little overpriced. This is consistent with some of the other mega-cap stocks I've analyzed.</li>  <li>This article looks at what Amazon stock is most likely worth for us investors.</li>  <li>I hope you enjoy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/451bc93115fb453c0fcb76434c40f7f4\" tg-width=\"1536\" tg-height=\"1024\"><span>Sundry Photography/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>亚马逊是当今世界最具创新力的公司之一，在电子商务行业和云计算服务领域处于领先地位。</li><li>不幸的是，它的价格有点过高。这与我分析过的其他一些大型股是一致的。</li><li>本文探讨了亚马逊股票对美国投资者来说最有可能的价值。</li><li>我希望你喜欢。</li></ul><p class=\"t-img-caption\"><span>杂项摄影/iStock社论来自Getty Images</span></p></blockquote></p><p> Today, Amazon (AMZN) seems to be a little overpriced based on my intrinsic value model.</p><p><blockquote>今天，根据我的内在价值模型，亚马逊（AMZN）的定价似乎有点过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a82d937a2de3f0709088e1ab4548267b\" tg-width=\"371\" tg-height=\"260\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> You might have seen some of my other articles where I've bashed other popular stocks like Apple (AAPL) or Microsoft (MSFT). Well, I guess today it's Amazon's turn. I just try to share what I think companies are worth, and I've found that a lot of companies seem to be overpriced.</p><p><blockquote>您可能已经看过我的其他一些文章，其中我抨击了苹果(AAPL)或微软(MSFT)等其他热门股票。嗯，我想今天轮到亚马逊了。我只是试图分享我认为公司的价值，我发现很多公司似乎定价过高。</blockquote></p><p> In this article, I'll break down how I came up with Amazon's valuation. I know that there's tons of different opinions out there about Amazon, so I'll try to share the reasoning behind my valuation to help you make better investments in the future.</p><p><blockquote>在本文中，我将详细介绍我是如何得出亚马逊估值的。我知道关于亚马逊有很多不同的观点，所以我会尝试分享我的估值背后的理由，以帮助您在未来进行更好的投资。</blockquote></p><p> Something important you should know - I'm not an expert on Amazon, and I have a really difficult time valuing growth stocks. I really doubt that I have the ability to estimate a company's future growth. I made future growth estimates by looking at past growth and making conservative estimates of the future.</p><p><blockquote>你应该知道一些重要的事情——我不是亚马逊专家，我很难评估成长型股票。我真的很怀疑我有能力估计一家公司未来的增长。我通过查看过去的增长并对未来做出保守的估计来做出未来的增长估计。</blockquote></p><p> This method borders on \"data extrapolation\", which is making assumptions based on past data. Data extrapolation isn't great because the future is different from the past - so making future projections based on past data isn't ideal.</p><p><blockquote>这种方法近乎“数据外推”，即根据过去的数据做出假设。数据外推并不好，因为未来与过去不同——所以根据过去的数据进行未来预测并不理想。</blockquote></p><p> But after valuing hundreds of companies, I've found that this kind of style does a good job of getting the valuation approximately right. I always try to set my valuations low, because it's better to buy low and make a killing than buy high and lose money.</p><p><blockquote>但在对数百家公司进行估值后，我发现这种风格可以很好地获得大致正确的估值。我总是尽量把我的估值定低，因为低买大赚总比高买亏好。</blockquote></p><p>   Warren Buffett said, “The three most important words in investing are  <b>margin of safety</b>.” That means to buy stuff on sale... That's the whole secret to great investing.    Rule 1 Investing  This model is built on getting the valuation \"approximately right,\" and looking to buy with a large margin of safety. I hope you enjoy, and as always, I'll try to keep it clean and common sense.</p><p><blockquote>沃伦·巴菲特说：“投资中最重要的三个词是<b>安全边际</b>意思是买打折的东西....这就是伟大投资的全部秘密。规则1投资该模型的基础是获得“大致正确”的估值，并寻求以较大的安全边际进行购买。我希望你喜欢，一如既往，我会尽量保持它的干净和常识。</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Where does Amazon get its money? Amazon is split into 3 segments: North America, International, and AWS.</p><p><blockquote>亚马逊的钱从哪里来？亚马逊分为3个部分：北美、国际和AWS。</blockquote></p><p> As a market leader in 2 high growth industries (E-commerce and cloud computing), Amazon will probably continue to see high growth in the future. In this section, I looked at the past revenue growth and operating margins for each of Amazon's segments, and I used this to make conservative future projections.</p><p><blockquote>作为两个高增长行业（电子商务和云计算）的市场领导者，亚马逊未来可能会继续实现高增长。在本节中，我研究了亚马逊每个部门过去的收入增长和营业利润率，并以此做出保守的未来预测。</blockquote></p><p> And later, I added up the numbers from each segment to make projections for the whole company. Here's a look at AMZN's North America segment. This segment's revenue comes from retail sales and subscription service revenues.</p><p><blockquote>后来，我把每个部门的数字加起来，对整个公司进行预测。以下是亚马逊北美业务的概况。该部门的收入来自零售销售和订阅服务收入。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce022c0ecacc3829cf83378211bbfd9d\" tg-width=\"640\" tg-height=\"192\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> I projected declining revenue growth and strong operating margins for this segment. I projected slower revenue growth, because I figure there has to be a cap on how much money Amazon can make in North America.</p><p><blockquote>我预计该部门的收入增长将下降，营业利润率将强劲。我预计收入增长会放缓，因为我认为亚马逊在北美的收入必须有一个上限。</blockquote></p><p> Hopefully, Amazon will exceed this revenue growth. But, I do think it would be a pretty incredible feat for Amazon to grow from $200B in revenue to $400B in 5 years.</p><p><blockquote>希望亚马逊能够超过这一收入增长。但是，我确实认为亚马逊在5年内将收入从2000亿美元增长到4000亿美元将是一个非常令人难以置信的壮举。</blockquote></p><p> Here's a look at Amazon's International segment:</p><p><blockquote>以下是亚马逊国际部门的概况：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3d7a5bde370f55e863f58c888abc496\" tg-width=\"640\" tg-height=\"219\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> For Amazon's international segment, I projected 20% annual revenue growth, and improving operating margins. I figured that operating margins would gradually improve until the margins reached a similar point to what Amazon sees in its US segment.</p><p><blockquote>对于亚马逊的国际部门，我预计年收入将增长20%，营业利润率也将提高。我认为营业利润率将逐渐提高，直到利润率达到与亚马逊在美国市场类似的水平。</blockquote></p><p> And for Amazon's last and most exciting segment, here's AWS:</p><p><blockquote>对于亚马逊最后也是最令人兴奋的部分，AWS是：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/769700013871f2cd09e8ce47cfb10966\" tg-width=\"640\" tg-height=\"203\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> AWS is undoubtedly going to bring high growth for Amazon, and high profits. I projected that the AWS segment will probably continue to grow at a high rate. I projected a 25-30% annual revenue growth rate because cloud computing has a lot of room to grow, and according to Research and Markets, the cloud computing industry should grow at about&nbsp;17.5% CAGR&nbsp;until 2025.</p><p><blockquote>AWS无疑将为亚马逊带来高增长和高利润。我预计AWS细分市场可能会继续高速增长。我预测25-30%的年收入增长率，因为云计算有很大的增长空间，根据研究和市场，云计算行业应该以17.5%的CAGR增长，直到2025年。</blockquote></p><p></p><p> Additionally, I projected 28% operating margins, because the AWS business benefits from operating leverage. As more people use the software, the company is able to make higher margins as it spreads costs over more people. It's possible that Amazon could exceed 28% operating margins, so there might be upside to Amazon's fair value.</p><p><blockquote>此外，我预计营业利润率为28%，因为AWS业务受益于运营杠杆。随着越来越多的人使用该软件，该公司能够通过将成本分摊给更多的人来获得更高的利润。亚马逊的营业利润率可能会超过28%，因此亚马逊的公允价值可能会有上升空间。</blockquote></p><p> These projections were added together to help us figure out what the entire company should be worth.</p><p><blockquote>这些预测加在一起有助于我们计算出整个公司的价值。</blockquote></p><p> <b>Capital Allocation</b></p><p><blockquote><b>资本配置</b></blockquote></p><p> How does Amazon spend its money? You might find it interesting to analyze Amazon's capital allocation, so you can see what Amazon does with its money, and where it might be investing for the future.</p><p><blockquote>亚马逊是怎么花钱的？你可能会发现分析亚马逊的资本配置很有趣，这样你就可以看到亚马逊用它的钱做了什么，以及它未来可能投资到哪里。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45f5afa0f641ee1aae39aa69cc150165\" tg-width=\"619\" tg-height=\"499\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> The biggest portion of Amazon's operating cash flows goes towards capital expenditures. From what I can tell, Amazon has not had any share activity over the past 5 years. The company has issued shares - but from the looks of the cash flow statement, it looks like they haven't raised any money from selling shares, and they haven't spent any money buying back shares.</p><p><blockquote>亚马逊运营现金流的最大部分用于资本支出。据我所知，亚马逊在过去5年里没有任何分享活动。该公司已经发行了股票——但从现金流量表来看，他们似乎没有通过出售股票筹集到任何资金，也没有花任何钱回购股票。</blockquote></p><p>   In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration.  <i>There were no repurchases of common stock in 2018, 2019, or 2020.</i>    Source:2020 10-K&nbsp;page 60,  <i>emphasis added</i>  But for our purposes, this quote shows that Amazon hasn't bought back any stock over the past 3 years. They also haven't spent any money on dividends, which is good because they're a high growth company.</p><p><blockquote>2016年2月，董事会批准了一项回购最多50亿美元普通股的计划，没有固定到期日。<i>2018年、2019年或2020年没有回购普通股。</i>资料来源：2020 10-K第60页，<i>增加了强调</i>但就我们而言，这段报价表明亚马逊在过去3年中没有回购任何股票。他们也没有在股息上花任何钱，这很好，因为他们是一家高增长公司。</blockquote></p><p> Amazon has consistently spent money on acquisitions and paying down debt. What's really interesting is that Amazon has built up a lot of spare cash over the past 5 years. Their cash position has risen about $58B since 2016, going from about $26B at the end of 2016 to about $84B at the end of 2020.</p><p><blockquote>亚马逊一直在收购和偿还债务上花钱。真正有趣的是，亚马逊在过去5年里积累了大量闲钱。自2016年以来，他们的现金头寸增加了约580亿美元，从2016年底的约260亿美元增加到2020年底的约840亿美元。</blockquote></p><p> Amazon has a lot more cash than they used to, so we could see future spending go towards a dividend, share buybacks, new acquisitions, or maybe more business investments that will lead to growth.</p><p><blockquote>亚马逊拥有比以前多得多的现金，因此我们可以看到未来的支出将用于股息、股票回购、新收购，或者更多将带来增长的商业投资。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> First, I used a discount rate of 7.7% for Amazon because that's what I found the company's weighted average cost of capital, or WACC, to be. I assumed an 8% cost of equity, and Amazon has averaged somewhere around a 20-30% tax rate over the past 10 years.</p><p><blockquote>首先，我对亚马逊使用了7.7%的贴现率，因为这是我发现该公司的加权平均资本成本(WACC)。我假设股权成本为8%，而亚马逊在过去10年中的平均税率约为20-30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c036264f19bb10fdad477a629b40f803\" tg-width=\"361\" tg-height=\"288\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> I used a DCF model to find Amazon's value today. In the model down below, you can see in the top 2 red boxes that I projected that the company would have lower revenue growth and strong operating margins.</p><p><blockquote>我今天用DCF模型找到了亚马逊的价值。在下面的模型中，您可以在顶部2个红框中看到，我预计该公司的收入增长将较低，营业利润率将强劲。</blockquote></p><p> This model projects that Amazon will have over $850B in revenue by 2025. That's absolutely nuts if you think about it, but based on estimated revenue growth, it seems feasible.</p><p><blockquote>该模型预计，到2025年，亚马逊的收入将超过8500亿美元。如果你仔细想想，这绝对是疯狂的，但根据估计的收入增长，这似乎是可行的。</blockquote></p><p> Right now, Walmart(NYSE:WMT)leads the world in revenue with about $550B. Amazon sits in third place for annual revenue, with about $390B. In 5 years, Amazon could easily have the largest revenue of any company in the world.</p><p><blockquote>目前，沃尔玛（纽约证券交易所股票代码：WMT）以约550B美元的收入领先全球。亚马逊的年收入排名第三，约为3900亿美元。5年后，亚马逊很可能成为世界上收入最高的公司。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95c459abcbda43e35b40379a1083ecae\" tg-width=\"640\" tg-height=\"510\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Down at the bottom of this model, you can see there's a red box that projects unlevered FCF margins. This basically measures how much of the company's revenue will become business profits, without including interest or debt payments. In the turquoise box, I applied the discount rate to see what the future cash flows are worth today.</p><p><blockquote>在该模型的底部，您可以看到有一个红色框，显示无杠杆自由现金流利润率。这基本上衡量了公司收入中有多少将成为业务利润，不包括利息或债务支付。在绿松石盒子中，我应用了贴现率来查看未来现金流今天的价值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3fa0846616fdc847a3fe1fdf7a09bed\" tg-width=\"267\" tg-height=\"404\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Today, it looks like Amazon is slightly overvalued. The model projects that the stock might be about 15% overvalued, and we could expect to make about 5% annual returns over the next 5 years if we invested today.</p><p><blockquote>如今，亚马逊的估值似乎略有高估。该模型预测该股票可能被高估约15%，如果我们今天投资，我们预计未来5年的年回报率约为5%。</blockquote></p><p> These estimations are based on the future cash flows that the business should generate. I don't hate Amazon or anything, I just don't think that Amazon stock would make a great investment at current prices.</p><p><blockquote>该等估计乃基于业务应产生的未来现金流量。我并不讨厌亚马逊或任何东西，我只是不认为亚马逊股票在当前价格下会是一项伟大的投资。</blockquote></p><p> Down at the bottom, I threw in 2 \"Buy Prices\" where Amazon stock might be more appealing. The idea behind this is that the cheaper AMZN stock gets, the higher returns we can expect.</p><p><blockquote>在底部，我提出了两个亚马逊股票可能更有吸引力的“买入价格”。这背后的想法是，AMZN股票越便宜，我们可以预期的回报就越高。</blockquote></p><p> The model projects that you'd make around 15% annual returns at $2,200 per share, and you might make around 22% annual returns at $1,700 per share.</p><p><blockquote>该模型预计，每股2,200美元的年回报率约为15%，每股1,700美元的年回报率约为22%。</blockquote></p><p> \"But doesn't it seem unreasonable to set the buy price in the $2,000s when the stock's trading near $3,500?\" It does a little bit. It seems pretty unlikely that Amazon's share price will nose dive right down past $2,000.</p><p><blockquote>“但当股票交易价格接近3,500美元时，将买入价格定为2,000美元似乎不合理吗？”有一点。亚马逊的股价似乎不太可能暴跌至2,000美元以上。</blockquote></p><p></p><p> But the idea is, if we're patient, we might get an opportunity to buy these shares underpriced. Last February, Amazon traded lower than $1,900 (I wish I bought some back then). We'll probably have opportunities in the future to buy Amazon at a discount.</p><p><blockquote>但我们的想法是，如果我们有耐心，我们可能有机会以低价购买这些股票。去年2月，亚马逊的交易价格低于1,900美元（我希望当时买了一些）。我们将来可能有机会以折扣价购买亚马逊。</blockquote></p><p> <b>Recap</b></p><p><blockquote><b>回顾</b></blockquote></p><p> Today, it seems like Amazon is slightly overvalued, because it seems to offer about 5% annual returns over the next 5 years. That doesn't mean you should sell Amazon if you're a long time holder, because Amazon should continue to do well as a leader in E-commerce and cloud computing.</p><p><blockquote>如今，亚马逊的估值似乎略有高估，因为它似乎在未来5年内提供约5%的年回报率。这并不意味着如果您是长期持有者，您应该出售亚马逊，因为亚马逊应该继续作为电子商务和云计算领域的领导者表现出色。</blockquote></p><p> But if you're looking for your next stock to invest in, Amazon seems to be too expensive right now. And if you've been eyeing Amazon for a while and you're looking to get in, now's not the best time to get into Amazon.</p><p><blockquote>但如果你正在寻找下一只投资股票，亚马逊现在似乎太贵了。如果您关注亚马逊已经有一段时间了，并且正在寻求进入，那么现在不是进入亚马逊的最佳时机。</blockquote></p><p> Even if we don't invest in the stock, we can still watch Amazon as they become the company with the most revenue in the world. And there's a lot we can learn from studying Amazon and Jeff Bezos. He's a smart dude.</p><p><blockquote>即使我们不投资该股票，我们仍然可以看到亚马逊成为世界上收入最多的公司。我们可以从研究亚马逊和杰夫·贝索斯中学到很多东西。他是个聪明人。</blockquote></p><p> Thank you very much for reading, and I hope that you have a great rest of your day.</p><p><blockquote>非常感谢您的阅读，我希望您今天休息得愉快。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436641-amazon-good-stock-not-good-price\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/article/4436641-amazon-good-stock-not-good-price","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184001921","content_text":"Summary\n\nAmazon is one of the most innovative companies in the world today, leading the E-commerce industry and cloud computing services.\nUnfortunately, it's a little overpriced. This is consistent with some of the other mega-cap stocks I've analyzed.\nThis article looks at what Amazon stock is most likely worth for us investors.\nI hope you enjoy.\n\nSundry Photography/iStock Editorial via Getty Images\nToday, Amazon (AMZN) seems to be a little overpriced based on my intrinsic value model.\nSource: Author\nYou might have seen some of my other articles where I've bashed other popular stocks like Apple (AAPL) or Microsoft (MSFT). Well, I guess today it's Amazon's turn. I just try to share what I think companies are worth, and I've found that a lot of companies seem to be overpriced.\nIn this article, I'll break down how I came up with Amazon's valuation. I know that there's tons of different opinions out there about Amazon, so I'll try to share the reasoning behind my valuation to help you make better investments in the future.\nSomething important you should know - I'm not an expert on Amazon, and I have a really difficult time valuing growth stocks. I really doubt that I have the ability to estimate a company's future growth. I made future growth estimates by looking at past growth and making conservative estimates of the future.\nThis method borders on \"data extrapolation\", which is making assumptions based on past data. Data extrapolation isn't great because the future is different from the past - so making future projections based on past data isn't ideal.\nBut after valuing hundreds of companies, I've found that this kind of style does a good job of getting the valuation approximately right. I always try to set my valuations low, because it's better to buy low and make a killing than buy high and lose money.\n\n Warren Buffett said, “The three most important words in investing are\n margin of safety.” That means to buy stuff on sale... That's the whole secret to great investing.\n\n\n Rule 1 Investing\n\nThis model is built on getting the valuation \"approximately right,\" and looking to buy with a large margin of safety. I hope you enjoy, and as always, I'll try to keep it clean and common sense.\nBusiness Model\nWhere does Amazon get its money? Amazon is split into 3 segments: North America, International, and AWS.\nAs a market leader in 2 high growth industries (E-commerce and cloud computing), Amazon will probably continue to see high growth in the future. In this section, I looked at the past revenue growth and operating margins for each of Amazon's segments, and I used this to make conservative future projections.\nAnd later, I added up the numbers from each segment to make projections for the whole company. Here's a look at AMZN's North America segment. This segment's revenue comes from retail sales and subscription service revenues.\nSource: Author with data from 2018 10-K,2019 10-K, and 2020 10-K\nI projected declining revenue growth and strong operating margins for this segment. I projected slower revenue growth, because I figure there has to be a cap on how much money Amazon can make in North America.\nHopefully, Amazon will exceed this revenue growth. But, I do think it would be a pretty incredible feat for Amazon to grow from $200B in revenue to $400B in 5 years.\nHere's a look at Amazon's International segment:\nSource: Author with data from 2018 10-K,2019 10-K, and 2020 10-K\nFor Amazon's international segment, I projected 20% annual revenue growth, and improving operating margins. I figured that operating margins would gradually improve until the margins reached a similar point to what Amazon sees in its US segment.\nAnd for Amazon's last and most exciting segment, here's AWS:\nSource: Author\nAWS is undoubtedly going to bring high growth for Amazon, and high profits. I projected that the AWS segment will probably continue to grow at a high rate. I projected a 25-30% annual revenue growth rate because cloud computing has a lot of room to grow, and according to Research and Markets, the cloud computing industry should grow at about 17.5% CAGR until 2025.\nAdditionally, I projected 28% operating margins, because the AWS business benefits from operating leverage. As more people use the software, the company is able to make higher margins as it spreads costs over more people. It's possible that Amazon could exceed 28% operating margins, so there might be upside to Amazon's fair value.\nThese projections were added together to help us figure out what the entire company should be worth.\nCapital Allocation\nHow does Amazon spend its money? You might find it interesting to analyze Amazon's capital allocation, so you can see what Amazon does with its money, and where it might be investing for the future.\nSource: Author\nThe biggest portion of Amazon's operating cash flows goes towards capital expenditures. From what I can tell, Amazon has not had any share activity over the past 5 years. The company has issued shares - but from the looks of the cash flow statement, it looks like they haven't raised any money from selling shares, and they haven't spent any money buying back shares.\n\n In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration.\n There were no repurchases of common stock in 2018, 2019, or 2020.\n\n\n Source:2020 10-K page 60,\n emphasis added\n\nBut for our purposes, this quote shows that Amazon hasn't bought back any stock over the past 3 years. They also haven't spent any money on dividends, which is good because they're a high growth company.\nAmazon has consistently spent money on acquisitions and paying down debt. What's really interesting is that Amazon has built up a lot of spare cash over the past 5 years. Their cash position has risen about $58B since 2016, going from about $26B at the end of 2016 to about $84B at the end of 2020.\nAmazon has a lot more cash than they used to, so we could see future spending go towards a dividend, share buybacks, new acquisitions, or maybe more business investments that will lead to growth.\nValuation\nFirst, I used a discount rate of 7.7% for Amazon because that's what I found the company's weighted average cost of capital, or WACC, to be. I assumed an 8% cost of equity, and Amazon has averaged somewhere around a 20-30% tax rate over the past 10 years.\nSource: Author\nI used a DCF model to find Amazon's value today. In the model down below, you can see in the top 2 red boxes that I projected that the company would have lower revenue growth and strong operating margins.\nThis model projects that Amazon will have over $850B in revenue by 2025. That's absolutely nuts if you think about it, but based on estimated revenue growth, it seems feasible.\nRight now, Walmart(NYSE:WMT)leads the world in revenue with about $550B. Amazon sits in third place for annual revenue, with about $390B. In 5 years, Amazon could easily have the largest revenue of any company in the world.\nSource: Author\nDown at the bottom of this model, you can see there's a red box that projects unlevered FCF margins. This basically measures how much of the company's revenue will become business profits, without including interest or debt payments. In the turquoise box, I applied the discount rate to see what the future cash flows are worth today.\nSource: Author\nToday, it looks like Amazon is slightly overvalued. The model projects that the stock might be about 15% overvalued, and we could expect to make about 5% annual returns over the next 5 years if we invested today.\nThese estimations are based on the future cash flows that the business should generate. I don't hate Amazon or anything, I just don't think that Amazon stock would make a great investment at current prices.\nDown at the bottom, I threw in 2 \"Buy Prices\" where Amazon stock might be more appealing. The idea behind this is that the cheaper AMZN stock gets, the higher returns we can expect.\nThe model projects that you'd make around 15% annual returns at $2,200 per share, and you might make around 22% annual returns at $1,700 per share.\n\"But doesn't it seem unreasonable to set the buy price in the $2,000s when the stock's trading near $3,500?\" It does a little bit. It seems pretty unlikely that Amazon's share price will nose dive right down past $2,000.\nBut the idea is, if we're patient, we might get an opportunity to buy these shares underpriced. Last February, Amazon traded lower than $1,900 (I wish I bought some back then). We'll probably have opportunities in the future to buy Amazon at a discount.\nRecap\nToday, it seems like Amazon is slightly overvalued, because it seems to offer about 5% annual returns over the next 5 years. That doesn't mean you should sell Amazon if you're a long time holder, because Amazon should continue to do well as a leader in E-commerce and cloud computing.\nBut if you're looking for your next stock to invest in, Amazon seems to be too expensive right now. And if you've been eyeing Amazon for a while and you're looking to get in, now's not the best time to get into Amazon.\nEven if we don't invest in the stock, we can still watch Amazon as they become the company with the most revenue in the world. And there's a lot we can learn from studying Amazon and Jeff Bezos. He's a smart dude.\nThank you very much for reading, and I hope that you have a great rest of your day.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":1575,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127172734,"gmtCreate":1624841625228,"gmtModify":1631887148264,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127172734","repostId":"2146000990","repostType":4,"isVote":1,"tweetType":1,"viewCount":606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127178040,"gmtCreate":1624841545680,"gmtModify":1631890586604,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127178040","repostId":"1161764161","repostType":4,"repost":{"id":"1161764161","kind":"news","pubTimestamp":1624836456,"share":"https://www.laohu8.com/m/news/1161764161?lang=zh_CN&edition=full","pubTime":"2021-06-28 07:27","market":"us","language":"en","title":"Top strategist opens her playbook for the year’s second half, sees market turbulence ahead<blockquote>顶级策略师开启下半年策略，预计未来市场将出现动荡</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1161764161","media":"CNBC","summary":"Wilmington Trust’s Meghan Shue is opening her playbook for the year’s second half — which starts Thu","content":"<p>Wilmington Trust’s Meghan Shue is opening her playbook for the year’s second half — which starts Thursday.</p><p><blockquote>威尔明顿信托基金(Wilmington Trust)的梅根·舒(Meghan Shue)将于周四开始公布下半年的行动计划。</blockquote></p><p> Her strategy includes an overexposure to cyclicals, and she favors&nbsp;financials,energy,commodities,materials&nbsp;and&nbsp;industrials.</p><p><blockquote>她的策略包括过度投资周期性股票，她青睐金融、能源、大宗商品、材料和工业。</blockquote></p><p> \"We see the economic recovery continuing and being a tailwind for stocks,\" the firm's head of investment strategy told CNBC's \"Trading Nation\" on Friday.</p><p><blockquote>该公司投资策略主管周五对CNBC的“Trading Nation”节目表示：“我们认为经济复苏将持续，并成为股市的顺风车。”</blockquote></p><p> Unless this week sees a dramatic sell-off, the market will start the year's final six months around record highs.</p><p><blockquote>除非本周出现大幅抛售，否则市场将在今年最后六个月的历史高点附近开始。</blockquote></p><p> The&nbsp;S&amp;P 500&nbsp;just wrapped up&nbsp;its best week since February,closing at 4,280.70 — an all-time high. The&nbsp;Dow&nbsp;closed up 3.4% for the week, notching its best weekly performance since mid-March.</p><p><blockquote>标准普尔500指数刚刚结束了自2月份以来表现最好的一周，收于4,280.70点，创下历史新高。道指本周收涨3.4%，创3月中旬以来最佳单周表现。</blockquote></p><p> The tech-heavy&nbsp;Nasdaq&nbsp;closed slightly lower on Friday. But it’s up 2.35% for the week.</p><p><blockquote>以科技股为主的纳斯达克周五小幅收低。但本周上涨了2.35%。</blockquote></p><p> Shue is optimistic on the broader market, but she also predicts turbulence ahead.</p><p><blockquote>Shue对大盘持乐观态度，但她也预测未来将出现动荡。</blockquote></p><p> “We are expecting some perhaps consolidation, maybe a pullback from here,” said Shue, a CNBC contributor.</p><p><blockquote>CNBC撰稿人Shue表示：“我们预计可能会出现一些整合，也可能会出现回调。”</blockquote></p><p> Shue, who oversees $141.5 billion in assets, is neutral on growth stocks,particularly Big Tech. She views the group as a key part of a diversified portfolio. However, Shue would avoid getting too deep into the group because she expects a rising10-year Treasury note yield&nbsp;to act as a headwind. According to Shue, it should reach at least 2% over the next 12 months.</p><p><blockquote>Shue管理着1,415亿美元的资产，他对成长型股票，尤其是大型科技股持中立态度。她认为该集团是多元化投资组合的关键部分。然而，Shue会避免深入该集团，因为她预计10年期国债收益率上升将成为阻力。Shue表示，未来12个月内至少应达到2%。</blockquote></p><p> ‘It’s really important not to forget about technology’</p><p><blockquote>“不要忘记技术非常重要”</blockquote></p><p> “Technology is really a long term story. So, it might have some challenges if our interest rate view pans out. But it’s such an integral part of the economy,” she noted. “It’s really important not to forget about technology even if there is perhaps some choppiness over the next few months.”</p><p><blockquote>“技术确实是一个长期的故事。因此，如果我们的利率观点成功，它可能会面临一些挑战。但它是经济不可或缺的一部分，”她指出。“即使未来几个月可能会出现一些波动，也不要忘记技术，这一点非常重要。”</blockquote></p><p> Shue expects the record rally to moderate over the next six months. She sees low to mid-single percentage gains.</p><p><blockquote>Shue预计创纪录的涨势将在未来六个月内放缓。她认为单一百分比涨幅为中低。</blockquote></p><p> “Every indication that we have so far in the economic data is that we are probably at or just beyond the peak pace of economic activity perhaps of this cycle,” said Shue. “We are moving into probably a deceleration phase.”</p><p><blockquote>舒表示：“迄今为止，经济数据中的所有迹象都表明，我们可能正处于或刚刚超过本周期经济活动的峰值速度。”“我们可能正在进入减速阶段。”</blockquote></p><p> Yet, Shue suggests that shouldn’t spook investors.</p><p><blockquote>然而，舒表示，这不应该吓到投资者。</blockquote></p><p> “The deceleration may actually still be above trend growth for the U.S. and the global economy,” she said.</p><p><blockquote>她表示：“美国和全球经济的减速实际上可能仍高于趋势增长。”</blockquote></p><p> For now, Shue is underweightconsumer staples,utilitiesandREITS, which are considered defensive plays.</p><p><blockquote>目前，Shue减持了消费必需品、公用事业和REITs，这些股票被认为是防御性股票。</blockquote></p><p> “It’s been a pretty incredible run over the past 12 months, and we have clearly been bouncing off of the bottom,” Shue said.</p><p><blockquote>“过去12个月的表现相当令人难以置信，我们显然已经从谷底反弹，”舒说。</blockquote></p><p></p>","source":"lsy1609915699154","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTop strategist opens her playbook for the year’s second half, sees market turbulence ahead<blockquote>顶级策略师开启下半年策略，预计未来市场将出现动荡</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNBC</strong><span class=\"h-time small\">2021-06-28 07:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Wilmington Trust’s Meghan Shue is opening her playbook for the year’s second half — which starts Thursday.</p><p><blockquote>威尔明顿信托基金(Wilmington Trust)的梅根·舒(Meghan Shue)将于周四开始公布下半年的行动计划。</blockquote></p><p> Her strategy includes an overexposure to cyclicals, and she favors&nbsp;financials,energy,commodities,materials&nbsp;and&nbsp;industrials.</p><p><blockquote>她的策略包括过度投资周期性股票，她青睐金融、能源、大宗商品、材料和工业。</blockquote></p><p> \"We see the economic recovery continuing and being a tailwind for stocks,\" the firm's head of investment strategy told CNBC's \"Trading Nation\" on Friday.</p><p><blockquote>该公司投资策略主管周五对CNBC的“Trading Nation”节目表示：“我们认为经济复苏将持续，并成为股市的顺风车。”</blockquote></p><p> Unless this week sees a dramatic sell-off, the market will start the year's final six months around record highs.</p><p><blockquote>除非本周出现大幅抛售，否则市场将在今年最后六个月的历史高点附近开始。</blockquote></p><p> The&nbsp;S&amp;P 500&nbsp;just wrapped up&nbsp;its best week since February,closing at 4,280.70 — an all-time high. The&nbsp;Dow&nbsp;closed up 3.4% for the week, notching its best weekly performance since mid-March.</p><p><blockquote>标准普尔500指数刚刚结束了自2月份以来表现最好的一周，收于4,280.70点，创下历史新高。道指本周收涨3.4%，创3月中旬以来最佳单周表现。</blockquote></p><p> The tech-heavy&nbsp;Nasdaq&nbsp;closed slightly lower on Friday. But it’s up 2.35% for the week.</p><p><blockquote>以科技股为主的纳斯达克周五小幅收低。但本周上涨了2.35%。</blockquote></p><p> Shue is optimistic on the broader market, but she also predicts turbulence ahead.</p><p><blockquote>Shue对大盘持乐观态度，但她也预测未来将出现动荡。</blockquote></p><p> “We are expecting some perhaps consolidation, maybe a pullback from here,” said Shue, a CNBC contributor.</p><p><blockquote>CNBC撰稿人Shue表示：“我们预计可能会出现一些整合，也可能会出现回调。”</blockquote></p><p> Shue, who oversees $141.5 billion in assets, is neutral on growth stocks,particularly Big Tech. She views the group as a key part of a diversified portfolio. However, Shue would avoid getting too deep into the group because she expects a rising10-year Treasury note yield&nbsp;to act as a headwind. According to Shue, it should reach at least 2% over the next 12 months.</p><p><blockquote>Shue管理着1,415亿美元的资产，他对成长型股票，尤其是大型科技股持中立态度。她认为该集团是多元化投资组合的关键部分。然而，Shue会避免深入该集团，因为她预计10年期国债收益率上升将成为阻力。Shue表示，未来12个月内至少应达到2%。</blockquote></p><p> ‘It’s really important not to forget about technology’</p><p><blockquote>“不要忘记技术非常重要”</blockquote></p><p> “Technology is really a long term story. So, it might have some challenges if our interest rate view pans out. But it’s such an integral part of the economy,” she noted. “It’s really important not to forget about technology even if there is perhaps some choppiness over the next few months.”</p><p><blockquote>“技术确实是一个长期的故事。因此，如果我们的利率观点成功，它可能会面临一些挑战。但它是经济不可或缺的一部分，”她指出。“即使未来几个月可能会出现一些波动，也不要忘记技术，这一点非常重要。”</blockquote></p><p> Shue expects the record rally to moderate over the next six months. She sees low to mid-single percentage gains.</p><p><blockquote>Shue预计创纪录的涨势将在未来六个月内放缓。她认为单一百分比涨幅为中低。</blockquote></p><p> “Every indication that we have so far in the economic data is that we are probably at or just beyond the peak pace of economic activity perhaps of this cycle,” said Shue. “We are moving into probably a deceleration phase.”</p><p><blockquote>舒表示：“迄今为止，经济数据中的所有迹象都表明，我们可能正处于或刚刚超过本周期经济活动的峰值速度。”“我们可能正在进入减速阶段。”</blockquote></p><p> Yet, Shue suggests that shouldn’t spook investors.</p><p><blockquote>然而，舒表示，这不应该吓到投资者。</blockquote></p><p> “The deceleration may actually still be above trend growth for the U.S. and the global economy,” she said.</p><p><blockquote>她表示：“美国和全球经济的减速实际上可能仍高于趋势增长。”</blockquote></p><p> For now, Shue is underweightconsumer staples,utilitiesandREITS, which are considered defensive plays.</p><p><blockquote>目前，Shue减持了消费必需品、公用事业和REITs，这些股票被认为是防御性股票。</blockquote></p><p> “It’s been a pretty incredible run over the past 12 months, and we have clearly been bouncing off of the bottom,” Shue said.</p><p><blockquote>“过去12个月的表现相当令人难以置信，我们显然已经从谷底反弹，”舒说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.cnbc.com/2021/06/27/top-strategist-opens-market-playbook-for-second-half-sees-turbulence.html\">CNBC</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"},"source_url":"https://www.cnbc.com/2021/06/27/top-strategist-opens-market-playbook-for-second-half-sees-turbulence.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161764161","content_text":"Wilmington Trust’s Meghan Shue is opening her playbook for the year’s second half — which starts Thursday.\nHer strategy includes an overexposure to cyclicals, and she favors financials,energy,commodities,materials and industrials.\n\"We see the economic recovery continuing and being a tailwind for stocks,\" the firm's head of investment strategy told CNBC's \"Trading Nation\" on Friday.\nUnless this week sees a dramatic sell-off, the market will start the year's final six months around record highs.\nThe S&P 500 just wrapped up its best week since February,closing at 4,280.70 — an all-time high. The Dow closed up 3.4% for the week, notching its best weekly performance since mid-March.\nThe tech-heavy Nasdaq closed slightly lower on Friday. But it’s up 2.35% for the week.\nShue is optimistic on the broader market, but she also predicts turbulence ahead.\n“We are expecting some perhaps consolidation, maybe a pullback from here,” said Shue, a CNBC contributor.\nShue, who oversees $141.5 billion in assets, is neutral on growth stocks,particularly Big Tech. She views the group as a key part of a diversified portfolio. However, Shue would avoid getting too deep into the group because she expects a rising10-year Treasury note yield to act as a headwind. According to Shue, it should reach at least 2% over the next 12 months.\n‘It’s really important not to forget about technology’\n“Technology is really a long term story. So, it might have some challenges if our interest rate view pans out. But it’s such an integral part of the economy,” she noted. “It’s really important not to forget about technology even if there is perhaps some choppiness over the next few months.”\nShue expects the record rally to moderate over the next six months. She sees low to mid-single percentage gains.\n“Every indication that we have so far in the economic data is that we are probably at or just beyond the peak pace of economic activity perhaps of this cycle,” said Shue. “We are moving into probably a deceleration phase.”\nYet, Shue suggests that shouldn’t spook investors.\n“The deceleration may actually still be above trend growth for the U.S. and the global economy,” she said.\nFor now, Shue is underweightconsumer staples,utilitiesandREITS, which are considered defensive plays.\n“It’s been a pretty incredible run over the past 12 months, and we have clearly been bouncing off of the bottom,” Shue said.","news_type":1,"symbols_score_info":{".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127173308,"gmtCreate":1624841500604,"gmtModify":1631890586606,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127173308","repostId":"1133201828","repostType":4,"repost":{"id":"1133201828","kind":"news","pubTimestamp":1624839570,"share":"https://www.laohu8.com/m/news/1133201828?lang=zh_CN&edition=full","pubTime":"2021-06-28 08:19","market":"us","language":"en","title":"Brookfield Unit Signs $5 Billion Deal for TDR-Backed Modulaire<blockquote>Brookfield部门签署价值50亿美元的TDR支持的Modulaire协议</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1133201828","media":"Bloomberg","summary":"(Bloomberg) -- A unit of Brookfield Asset Management Inc. agreed to acquire Modulaire Group, the Eur","content":"<p>(Bloomberg) -- A unit of Brookfield Asset Management Inc. agreed to acquire Modulaire Group, the European designer of modular work spaces backed by buyout firm TDR Capital, for about $5 billion, beating out interest from rival Canadian investment firm Onex Corp.</p><p><blockquote>（彭博）-布鲁克菲尔德资产管理公司（Brookfield Asset Management Inc.）的一个部门同意以约50亿美元的价格收购由收购公司TDR Capital支持的欧洲模块化工作空间设计师Modulaire Group，击败了竞争对手加拿大投资公司Onex Corp.的兴趣。</blockquote></p><p> “We look forward to bringing our global scale and capabilities in owning and operating leading infrastructure services businesses to support Modulaire’s growth, in partnership with the management team,” Anuj Ranjan, managing partner of Brookfield Business Partners LP, said in a statement Sunday.</p><p><blockquote>Brookfield Business Partners LP管理合伙人Anuj Ranjan在周日的一份声明中表示：“我们期待与管理团队合作，利用我们拥有和运营领先基础设施服务业务的全球规模和能力来支持Modulaire的增长。”</blockquote></p><p> Bloomberg News reported the parties were closing in on the deal earlier, citing people familiar with the matter.</p><p><blockquote>彭博新闻社援引知情人士的话报道称，双方早些时候正在接近达成交易。</blockquote></p><p> The deal ranks among the biggest private equity transactions in Europe this year, according to data compiled by Bloomberg. It’s also be among the largest-ever deals for the Canadian investment firm’s European private equity business.</p><p><blockquote>根据彭博汇编的数据，该交易是今年欧洲最大的私募股权交易之一。这也是这家加拿大投资公司欧洲私募股权业务有史以来最大的交易之一。</blockquote></p><p> Modulaire designs modular buildings that can be rented for work and living, as well as portable storage units. Demand for these services have picked up amid the pandemic as businesses seek to cut costs and shy away from longer-term work-space contracts. The company operates across Europe and in Asia. TDR acquired the company in 2004 and has since expanded it through a string of acquisitions.</p><p><blockquote>Modulaire设计可出租用于工作和生活的模块化建筑，以及便携式存储单元。随着企业寻求削减成本并回避长期工作空间合同，疫情对这些服务的需求有所增加。该公司在欧洲和亚洲开展业务。TDR于2004年收购了该公司，此后通过一系列收购扩大了规模。</blockquote></p><p> The company reported a 27% increase in revenue, including from acquisitions, to 320 million euros in the first quarter. Earnings before interest, taxes, depreciation and amortization rose 44% during the period to 97 million euros, including acquisitions.</p><p><blockquote>该公司报告称，第一季度收入（包括收购）增长了27%，达到3.2亿欧元。包括收购在内，期内息税折旧摊销前利润增长44%至9700万欧元。</blockquote></p><p> Brookfield Business Partners is a unit of the Canadian firm which invests in business services and industrial sectors. The investment firm is weighing a sale of U.K.-based biofuel provider Greenergy, Bloomberg News reported in May.</p><p><blockquote>Brookfield Business Partners是这家加拿大公司的一个部门，投资于商业服务和工业领域。据彭博社5月份报道，该投资公司正在考虑出售英国生物燃料供应商Greenergy。</blockquote></p><p></p>","source":"lsy1612507957220","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>Brookfield Unit Signs $5 Billion Deal for TDR-Backed Modulaire<blockquote>Brookfield部门签署价值50亿美元的TDR支持的Modulaire协议</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\">\nBrookfield Unit Signs $5 Billion Deal for TDR-Backed Modulaire<blockquote>Brookfield部门签署价值50亿美元的TDR支持的Modulaire协议</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-06-28 08:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- A unit of Brookfield Asset Management Inc. agreed to acquire Modulaire Group, the European designer of modular work spaces backed by buyout firm TDR Capital, for about $5 billion, beating out interest from rival Canadian investment firm Onex Corp.</p><p><blockquote>（彭博）-布鲁克菲尔德资产管理公司（Brookfield Asset Management Inc.）的一个部门同意以约50亿美元的价格收购由收购公司TDR Capital支持的欧洲模块化工作空间设计师Modulaire Group，击败了竞争对手加拿大投资公司Onex Corp.的兴趣。</blockquote></p><p> “We look forward to bringing our global scale and capabilities in owning and operating leading infrastructure services businesses to support Modulaire’s growth, in partnership with the management team,” Anuj Ranjan, managing partner of Brookfield Business Partners LP, said in a statement Sunday.</p><p><blockquote>Brookfield Business Partners LP管理合伙人Anuj Ranjan在周日的一份声明中表示：“我们期待与管理团队合作，利用我们拥有和运营领先基础设施服务业务的全球规模和能力来支持Modulaire的增长。”</blockquote></p><p> Bloomberg News reported the parties were closing in on the deal earlier, citing people familiar with the matter.</p><p><blockquote>彭博新闻社援引知情人士的话报道称，双方早些时候正在接近达成交易。</blockquote></p><p> The deal ranks among the biggest private equity transactions in Europe this year, according to data compiled by Bloomberg. It’s also be among the largest-ever deals for the Canadian investment firm’s European private equity business.</p><p><blockquote>根据彭博汇编的数据，该交易是今年欧洲最大的私募股权交易之一。这也是这家加拿大投资公司欧洲私募股权业务有史以来最大的交易之一。</blockquote></p><p> Modulaire designs modular buildings that can be rented for work and living, as well as portable storage units. Demand for these services have picked up amid the pandemic as businesses seek to cut costs and shy away from longer-term work-space contracts. The company operates across Europe and in Asia. TDR acquired the company in 2004 and has since expanded it through a string of acquisitions.</p><p><blockquote>Modulaire设计可出租用于工作和生活的模块化建筑，以及便携式存储单元。随着企业寻求削减成本并回避长期工作空间合同，疫情对这些服务的需求有所增加。该公司在欧洲和亚洲开展业务。TDR于2004年收购了该公司，此后通过一系列收购扩大了规模。</blockquote></p><p> The company reported a 27% increase in revenue, including from acquisitions, to 320 million euros in the first quarter. Earnings before interest, taxes, depreciation and amortization rose 44% during the period to 97 million euros, including acquisitions.</p><p><blockquote>该公司报告称，第一季度收入（包括收购）增长了27%，达到3.2亿欧元。包括收购在内，期内息税折旧摊销前利润增长44%至9700万欧元。</blockquote></p><p> Brookfield Business Partners is a unit of the Canadian firm which invests in business services and industrial sectors. The investment firm is weighing a sale of U.K.-based biofuel provider Greenergy, Bloomberg News reported in May.</p><p><blockquote>Brookfield Business Partners是这家加拿大公司的一个部门，投资于商业服务和工业领域。据彭博社5月份报道，该投资公司正在考虑出售英国生物燃料供应商Greenergy。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/brookfield-unit-nears-deal-tdr-190001266.html\">Bloomberg</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":{"BBU":"Brookfield Business Partners"},"source_url":"https://finance.yahoo.com/news/brookfield-unit-nears-deal-tdr-190001266.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133201828","content_text":"(Bloomberg) -- A unit of Brookfield Asset Management Inc. agreed to acquire Modulaire Group, the European designer of modular work spaces backed by buyout firm TDR Capital, for about $5 billion, beating out interest from rival Canadian investment firm Onex Corp.\n“We look forward to bringing our global scale and capabilities in owning and operating leading infrastructure services businesses to support Modulaire’s growth, in partnership with the management team,” Anuj Ranjan, managing partner of Brookfield Business Partners LP, said in a statement Sunday.\nBloomberg News reported the parties were closing in on the deal earlier, citing people familiar with the matter.\nThe deal ranks among the biggest private equity transactions in Europe this year, according to data compiled by Bloomberg. It’s also be among the largest-ever deals for the Canadian investment firm’s European private equity business.\nModulaire designs modular buildings that can be rented for work and living, as well as portable storage units. Demand for these services have picked up amid the pandemic as businesses seek to cut costs and shy away from longer-term work-space contracts. The company operates across Europe and in Asia. TDR acquired the company in 2004 and has since expanded it through a string of acquisitions.\nThe company reported a 27% increase in revenue, including from acquisitions, to 320 million euros in the first quarter. Earnings before interest, taxes, depreciation and amortization rose 44% during the period to 97 million euros, including acquisitions.\nBrookfield Business Partners is a unit of the Canadian firm which invests in business services and industrial sectors. The investment firm is weighing a sale of U.K.-based biofuel provider Greenergy, Bloomberg News reported in May.","news_type":1,"symbols_score_info":{"BBU":0.9}},"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124215401,"gmtCreate":1624766747503,"gmtModify":1631890586611,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124215401","repostId":"2146090006","repostType":4,"isVote":1,"tweetType":1,"viewCount":769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126473050,"gmtCreate":1624583073970,"gmtModify":1631890586615,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good to read this","listText":"Good to read this","text":"Good to read 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tiger app, easy to use","listText":"Love tiger app, easy to use","text":"Love tiger app, easy to use","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163552052","isVote":1,"tweetType":1,"viewCount":611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163559320,"gmtCreate":1623889654960,"gmtModify":1631890586624,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163559320","repostId":"1109608534","repostType":4,"repost":{"id":"1109608534","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":1623852639,"share":"https://www.laohu8.com/m/news/1109608534?lang=zh_CN&edition=full","pubTime":"2021-06-16 22:10","market":"us","language":"en","title":"Cruise Stocks Gain As Wolfe Upgrades On Improving Demand<blockquote>沃尔夫因需求改善而上调评级，邮轮股上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109608534","media":"Tiger Newspress","summary":"Shares of the largest cruise operators, namely Royal Caribbean, Norwegian Cruise Line and Carnival, ","content":"<p>Shares of the largest cruise operators, namely Royal Caribbean, Norwegian Cruise Line&nbsp;and Carnival, were up in&nbsp;moring&nbsp;trading on an upgrade by Wolfe Research.</p><p><blockquote>沃尔夫研究公司上调评级后，最大的邮轮运营商皇家加勒比、挪威邮轮公司和嘉年华公司的股价在早盘交易中上涨。</blockquote></p><p> Early signs of customer demand for the return of vacations at sea should make investors more bullish on cruise stocks, according to Wolfe Research.</p><p><blockquote>沃尔夫研究公司表示，客户对海上度假回归需求的早期迹象应该会让投资者更加看好邮轮股。</blockquote></p><p> The cruise industry was one of the hardest hit by the pandemic, with voyages being stopped around the world, but with widespread vaccinations in the U.S., the major companies have plans toresume American operations over the summer.</p><p><blockquote>邮轮业是受疫情打击最严重的行业之一，世界各地的航行都停止了，但随着美国广泛接种疫苗，各大公司计划在夏季恢复美国业务。</blockquote></p><p> Analyst Greg Badishkanian upgraded&nbsp;Carnival,Royal Caribbean&nbsp;and&nbsp;Norwegian Cruise Line Holdingsto outperform from peer perform, saying in a note to clients on Wednesday that early indications pointed to a strong restart for the industry.</p><p><blockquote>分析师格雷格·巴迪什卡尼安(Greg Badishkanian)将嘉年华、皇家加勒比和挪威邮轮控股公司(Norwegian Cruise Line Holdings)的评级从同行表现上调至跑赢大盘，并在周三给客户的一份报告中表示，早期迹象表明该行业将强劲重启。</blockquote></p><p> “Our checks suggest improving booking / pricing trends out of North America over the past month, with stronger trends over the past week. While there is some lingering uncertainty surrounding the U.S. restart (CDC / Florida, etc.), we view those unknowns as largely transitory when viewed against the broader reopening backdrop,” the note said.</p><p><blockquote>“我们的检查表明，过去一个月北美的预订/定价趋势有所改善，过去一周的趋势更加强劲。虽然美国重启（CDC/佛罗里达州等）仍存在一些挥之不去的不确定性，但我们认为这些未知因素在更广泛的重新开放背景下来看，很大程度上是暂时的，”该报告称。</blockquote></p><p> Bookings and demand are running ahead of pre-pandemic levels, according to Wolfe.</p><p><blockquote>沃尔夫表示，预订量和需求均高于大流行前的水平。</blockquote></p><p> “Cumulative 2022 bookings are now up approx. +10% to +15% versus 2019 levels with signs of improving 1Q demand (especially in January). Pricing is up in the +15% to 25% range vs. 2019 before factoring in [future cruise credits],” the note said.</p><p><blockquote>“与2019年水平相比，2022年累计预订量现已增长约+10%至+15%，第一季度需求有改善的迹象（尤其是1月份）。在考虑[未来游轮积分]之前，定价较2019年上涨了+15%至25%，”该说明称。</blockquote></p><p> Wolfe has price targets of $32 per share for Carnival, $96 for Royal Caribbean and $36 for Norwegian. Those represent upside of roughly 12%, 8% and 17%, respectively.</p><p><blockquote>沃尔夫对嘉年华的目标价为每股32美元，皇家加勒比为96美元，挪威航空为36美元。这些涨幅分别约为12%、8%和17%。</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>Cruise Stocks Gain As Wolfe Upgrades On Improving Demand<blockquote>沃尔夫因需求改善而上调评级，邮轮股上涨</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\">\nCruise Stocks Gain As Wolfe Upgrades On Improving Demand<blockquote>沃尔夫因需求改善而上调评级，邮轮股上涨</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\">2021-06-16 22:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Shares of the largest cruise operators, namely Royal Caribbean, Norwegian Cruise Line&nbsp;and Carnival, were up in&nbsp;moring&nbsp;trading on an upgrade by Wolfe Research.</p><p><blockquote>沃尔夫研究公司上调评级后，最大的邮轮运营商皇家加勒比、挪威邮轮公司和嘉年华公司的股价在早盘交易中上涨。</blockquote></p><p> Early signs of customer demand for the return of vacations at sea should make investors more bullish on cruise stocks, according to Wolfe Research.</p><p><blockquote>沃尔夫研究公司表示，客户对海上度假回归需求的早期迹象应该会让投资者更加看好邮轮股。</blockquote></p><p> The cruise industry was one of the hardest hit by the pandemic, with voyages being stopped around the world, but with widespread vaccinations in the U.S., the major companies have plans toresume American operations over the summer.</p><p><blockquote>邮轮业是受疫情打击最严重的行业之一，世界各地的航行都停止了，但随着美国广泛接种疫苗，各大公司计划在夏季恢复美国业务。</blockquote></p><p> Analyst Greg Badishkanian upgraded&nbsp;Carnival,Royal Caribbean&nbsp;and&nbsp;Norwegian Cruise Line Holdingsto outperform from peer perform, saying in a note to clients on Wednesday that early indications pointed to a strong restart for the industry.</p><p><blockquote>分析师格雷格·巴迪什卡尼安(Greg Badishkanian)将嘉年华、皇家加勒比和挪威邮轮控股公司(Norwegian Cruise Line Holdings)的评级从同行表现上调至跑赢大盘，并在周三给客户的一份报告中表示，早期迹象表明该行业将强劲重启。</blockquote></p><p> “Our checks suggest improving booking / pricing trends out of North America over the past month, with stronger trends over the past week. While there is some lingering uncertainty surrounding the U.S. restart (CDC / Florida, etc.), we view those unknowns as largely transitory when viewed against the broader reopening backdrop,” the note said.</p><p><blockquote>“我们的检查表明，过去一个月北美的预订/定价趋势有所改善，过去一周的趋势更加强劲。虽然美国重启（CDC/佛罗里达州等）仍存在一些挥之不去的不确定性，但我们认为这些未知因素在更广泛的重新开放背景下来看，很大程度上是暂时的，”该报告称。</blockquote></p><p> Bookings and demand are running ahead of pre-pandemic levels, according to Wolfe.</p><p><blockquote>沃尔夫表示，预订量和需求均高于大流行前的水平。</blockquote></p><p> “Cumulative 2022 bookings are now up approx. +10% to +15% versus 2019 levels with signs of improving 1Q demand (especially in January). Pricing is up in the +15% to 25% range vs. 2019 before factoring in [future cruise credits],” the note said.</p><p><blockquote>“与2019年水平相比，2022年累计预订量现已增长约+10%至+15%，第一季度需求有改善的迹象（尤其是1月份）。在考虑[未来游轮积分]之前，定价较2019年上涨了+15%至25%，”该说明称。</blockquote></p><p> Wolfe has price targets of $32 per share for Carnival, $96 for Royal Caribbean and $36 for Norwegian. Those represent upside of roughly 12%, 8% and 17%, respectively.</p><p><blockquote>沃尔夫对嘉年华的目标价为每股32美元，皇家加勒比为96美元，挪威航空为36美元。这些涨幅分别约为12%、8%和17%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NCLH":"挪威邮轮","CCL":"嘉年华邮轮","RCL":"皇家加勒比邮轮"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109608534","content_text":"Shares of the largest cruise operators, namely Royal Caribbean, Norwegian Cruise Line and Carnival, were up in moring trading on an upgrade by Wolfe Research.\nEarly signs of customer demand for the return of vacations at sea should make investors more bullish on cruise stocks, according to Wolfe Research.\nThe cruise industry was one of the hardest hit by the pandemic, with voyages being stopped around the world, but with widespread vaccinations in the U.S., the major companies have plans toresume American operations over the summer.\nAnalyst Greg Badishkanian upgraded Carnival,Royal Caribbean and Norwegian Cruise Line Holdingsto outperform from peer perform, saying in a note to clients on Wednesday that early indications pointed to a strong restart for the industry.\n“Our checks suggest improving booking / pricing trends out of North America over the past month, with stronger trends over the past week. While there is some lingering uncertainty surrounding the U.S. restart (CDC / Florida, etc.), we view those unknowns as largely transitory when viewed against the broader reopening backdrop,” the note said.\nBookings and demand are running ahead of pre-pandemic levels, according to Wolfe.\n“Cumulative 2022 bookings are now up approx. +10% to +15% versus 2019 levels with signs of improving 1Q demand (especially in January). Pricing is up in the +15% to 25% range vs. 2019 before factoring in [future cruise credits],” the note said.\nWolfe has price targets of $32 per share for Carnival, $96 for Royal Caribbean and $36 for Norwegian. Those represent upside of roughly 12%, 8% and 17%, respectively.","news_type":1,"symbols_score_info":{"RCL":0.9,"NCLH":0.9,"CCL":0.9}},"isVote":1,"tweetType":1,"viewCount":708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163550562,"gmtCreate":1623889635856,"gmtModify":1631890586626,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163550562","repostId":"2143792172","repostType":4,"isVote":1,"tweetType":1,"viewCount":640,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":882406837,"gmtCreate":1631713063129,"gmtModify":1631887148159,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Didi when u can wake up huh?","listText":"Didi when u can wake up huh?","text":"Didi when u can wake up huh?","images":[{"img":"https://static.tigerbbs.com/e172e3b813a8ad28fd34e44d48a0ca47","width":"750","height":"821"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/882406837","isVote":1,"tweetType":1,"viewCount":2016,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":141136993,"gmtCreate":1625841430312,"gmtModify":1631887148189,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/141136993","repostId":"1173374462","repostType":4,"repost":{"id":"1173374462","kind":"news","pubTimestamp":1625840008,"share":"https://www.laohu8.com/m/news/1173374462?lang=zh_CN&edition=full","pubTime":"2021-07-09 22:13","market":"us","language":"en","title":"Meme Stocks Like GameStop and AMC Reflect Market Reality<blockquote>游戏驿站和AMC等模因股票反映了市场现实</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173374462","media":"Thestreet","summary":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment","content":"<p>Gamestop&nbsp;(<b>GME</b>)&nbsp;made some investors rich… and then it broke many more. Investing in AMC Entertainment&nbsp;(<b>AMC</b>)&nbsp;did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.</p><p><blockquote>游戏驿站(<b>GME</b>）让一些投资者变得富有……然后又破产了更多。投资AMC院线（<b>AMC</b>）做了完全相同的事情。这两只股票即使不是失败的企业，也至少代表了陷入困境的企业；甚至在大流行之前就努力跟上新经济的公司就关闭了大部分新经济。然而，在过去的几个月里，他们公布了市场上一些最不稳定的收益和损失。</blockquote></p><p> How?</p><p><blockquote>如何？</blockquote></p><p> It’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?</p><p><blockquote>这取决于Real Money的Timothy Collins评级市场的“模因股票夸张”。但是，他写道，这真的与交易一直以来的运作方式有那么大的不同吗？</blockquote></p><p> Have you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?</p><p><blockquote>您是否真正想过“登月”或“信念购买”这两个短语，以及它们如何扰乱我们对公允价值的看法？</blockquote></p><p> \"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.</p><p><blockquote>“最初，我对继续使用‘去月球’这个词翻了个白眼，”柯林斯说。“例如，这不像‘强力买入，目标价为65美元’。‘登月’完全是任意的，可以进行解释，但话又说回来，当你仔细想想时，大多数关于估值的事情也是如此，”柯林斯写道。</blockquote></p><p> \"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.</p><p><blockquote>“例如，当分析师在一只股票上敲打桌子时，这与‘飞向月球’有什么不同？或者当有人说‘全押’时。他们真的全押了吗？他们是否兑现了所有资产，汇集了流动性，并尽可能地购买了每一股？可能不会。事实上，我会说绝对不是99.9999%的情况。当然，总有那么一个人，”柯林斯说。</blockquote></p><p> \"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"</p><p><blockquote>“但关键是，华尔街多年来一直是武断的。我们甚至不能有一个标准的评级系统。它是‘中性’还是‘持有’？说真的，我想持有只在你的范围中间的东西吗？不。”</blockquote></p><p> Collins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"</p><p><blockquote>柯林斯写道，“系统应该是‘买入’或‘卖出’。就是这样。黑或白。拥有或不拥有。”</blockquote></p><p> Assets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.</p><p><blockquote>像游戏驿站甚至加密货币这样的资产似乎只不过是纯粹的情绪在出售。投资者正在享受这些产品，这往往会导致价格飞涨。</blockquote></p><p> That’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.</p><p><blockquote>诚然，这很令人困惑。只是，在你举手之前，重要的是要记住股票市场总是至少有一点武断。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Meme Stocks Like GameStop and AMC Reflect Market Reality<blockquote>游戏驿站和AMC等模因股票反映了市场现实</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\">\nMeme Stocks Like GameStop and AMC Reflect Market Reality<blockquote>游戏驿站和AMC等模因股票反映了市场现实</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-09 22:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Gamestop&nbsp;(<b>GME</b>)&nbsp;made some investors rich… and then it broke many more. Investing in AMC Entertainment&nbsp;(<b>AMC</b>)&nbsp;did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.</p><p><blockquote>游戏驿站(<b>GME</b>）让一些投资者变得富有……然后又破产了更多。投资AMC院线（<b>AMC</b>）做了完全相同的事情。这两只股票即使不是失败的企业，也至少代表了陷入困境的企业；甚至在大流行之前就努力跟上新经济的公司就关闭了大部分新经济。然而，在过去的几个月里，他们公布了市场上一些最不稳定的收益和损失。</blockquote></p><p> How?</p><p><blockquote>如何？</blockquote></p><p> It’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?</p><p><blockquote>这取决于Real Money的Timothy Collins评级市场的“模因股票夸张”。但是，他写道，这真的与交易一直以来的运作方式有那么大的不同吗？</blockquote></p><p> Have you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?</p><p><blockquote>您是否真正想过“登月”或“信念购买”这两个短语，以及它们如何扰乱我们对公允价值的看法？</blockquote></p><p> \"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.</p><p><blockquote>“最初，我对继续使用‘去月球’这个词翻了个白眼，”柯林斯说。“例如，这不像‘强力买入，目标价为65美元’。‘登月’完全是任意的，可以进行解释，但话又说回来，当你仔细想想时，大多数关于估值的事情也是如此，”柯林斯写道。</blockquote></p><p> \"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.</p><p><blockquote>“例如，当分析师在一只股票上敲打桌子时，这与‘飞向月球’有什么不同？或者当有人说‘全押’时。他们真的全押了吗？他们是否兑现了所有资产，汇集了流动性，并尽可能地购买了每一股？可能不会。事实上，我会说绝对不是99.9999%的情况。当然，总有那么一个人，”柯林斯说。</blockquote></p><p> \"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"</p><p><blockquote>“但关键是，华尔街多年来一直是武断的。我们甚至不能有一个标准的评级系统。它是‘中性’还是‘持有’？说真的，我想持有只在你的范围中间的东西吗？不。”</blockquote></p><p> Collins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"</p><p><blockquote>柯林斯写道，“系统应该是‘买入’或‘卖出’。就是这样。黑或白。拥有或不拥有。”</blockquote></p><p> Assets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.</p><p><blockquote>像游戏驿站甚至加密货币这样的资产似乎只不过是纯粹的情绪在出售。投资者正在享受这些产品，这往往会导致价格飞涨。</blockquote></p><p> That’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.</p><p><blockquote>诚然，这很令人困惑。只是，在你举手之前，重要的是要记住股票市场总是至少有一点武断。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","GME":"游戏驿站"},"source_url":"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173374462","content_text":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment (AMC) did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.\nHow?\nIt’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?\nHave you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?\n\"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.\n\"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.\n\"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"\nCollins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"\nAssets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.\nThat’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.","news_type":1,"symbols_score_info":{"AMC":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":1908,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884178579,"gmtCreate":1631872762291,"gmtModify":1631887148146,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/884178579","repostId":"884171099","repostType":1,"repost":{"id":884171099,"gmtCreate":1631872592011,"gmtModify":1631884025491,"author":{"id":"3581837767503148","authorId":"3581837767503148","name":"Huatchin","avatar":"https://static.tigerbbs.com/88efb7897819cfa26b956823fee031a1","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581837767503148","authorIdStr":"3581837767503148"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/DIS\">$Walt Disney(DIS)$</a>To the moon","listText":"<a href=\"https://laohu8.com/S/DIS\">$Walt Disney(DIS)$</a>To the moon","text":"$Walt Disney(DIS)$To the moon","images":[{"img":"https://static.tigerbbs.com/160d29ba47aefd17035b06d039e9625b","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/884171099","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1691,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126447220,"gmtCreate":1624583007260,"gmtModify":1631890586615,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/126447220","repostId":"1182579765","repostType":4,"isVote":1,"tweetType":1,"viewCount":566,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882401713,"gmtCreate":1631713012732,"gmtModify":1631887148173,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Didi when u can wake up huh?","listText":"Didi when u can wake up huh?","text":"Didi when u can wake up huh?","images":[{"img":"https://static.tigerbbs.com/e172e3b813a8ad28fd34e44d48a0ca47","width":"750","height":"821"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/882401713","isVote":1,"tweetType":1,"viewCount":1937,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":141131771,"gmtCreate":1625841406893,"gmtModify":1631887148199,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/141131771","repostId":"1107084554","repostType":4,"isVote":1,"tweetType":1,"viewCount":2387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157983268,"gmtCreate":1625559781954,"gmtModify":1631887148234,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Noted","listText":"Noted","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/157983268","repostId":"2149466331","repostType":4,"isVote":1,"tweetType":1,"viewCount":2169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159541940,"gmtCreate":1624975363480,"gmtModify":1631887148239,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159541940","repostId":"2147868644","repostType":4,"repost":{"id":"2147868644","kind":"highlight","pubTimestamp":1624969959,"share":"https://www.laohu8.com/m/news/2147868644?lang=zh_CN&edition=full","pubTime":"2021-06-29 20:32","market":"us","language":"en","title":"A big market transition is coming. Here's where investors should steer next, says this strategist.<blockquote>一场大的市场转型即将到来。这位策略师表示，这是投资者下一步应该转向的方向。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2147868644","media":"MarketWatch","summary":"The COVID-19 delta variant is starting to look like the killjoy of summer.\nSo far, U.S. stocks haven","content":"<p>The COVID-19 delta variant is starting to look like the killjoy of summer.</p><p><blockquote>新冠肺炎德尔塔变异毒株开始看起来像夏天的扫兴。</blockquote></p><p> So far, U.S. stocks haven't seen a major response, even though Los Angeles is now suggesting masks indoors again. But given how the variant, first identified in India, has marched across some countries, a speed bump or two for the reopening trade over the next few months can't be ruled out, especially if those cases start to take hold in the U.S.</p><p><blockquote>到目前为止，美国股市还没有出现重大反应，尽管洛杉矶现在再次建议在室内戴口罩。但考虑到这种首先在印度发现的变种已经在一些国家蔓延，不能排除未来几个月重新开放贸易会遇到一两个减速带的可能性，特别是如果这些病例开始在美国发生的话。</blockquote></p><p> Onto our call of the day provided by Liz Young, head of investment strategy at SoFi , a mobile-first personal finance company. She says we are headed for a big market transition in the latter half of the year -- into calm waters and no big surprises.</p><p><blockquote>移动优先的个人金融公司SoFi的投资策略主管Liz Young提供了我们的每日看涨期权。她表示，我们将在今年下半年迎来一次重大的市场转型——进入平静的水域，不会出现大的意外。</blockquote></p><p> \"However, I think it's going to feel like we need to eke out a little bit of return and it might feel hard won,\" Young, former director of market strategy at BNY Mellon, told MarketWatch.</p><p><blockquote>纽约梅隆银行前市场策略总监杨告诉MarketWatch：“然而，我认为我们需要勉强获得一点回报，而且可能感觉来之不易。”</blockquote></p><p> Looking back to last year, she said investors got used to big double digit gains in parts of the market as it rebounded, and noted the S&amp;P 500 has already hit more than 30 records this year.</p><p><blockquote>回顾去年，她表示，随着市场反弹，投资者已经习惯了部分市场两位数的大幅上涨，并指出标普500今年已创下30多项纪录。</blockquote></p><p> \"What I see happening in the second half of this year is that we have to start making this transition from the policy support -- which has really gotten us to this point -- back to the fundamental and durable strength in the market, in corporations, in the economy. So the data will start to matter,\" said Young.</p><p><blockquote>“我认为今年下半年会发生的情况是，我们必须开始从政策支持（这确实让我们走到了这一步）转向市场、企业和经济的基本和持久实力。因此，数据将开始变得重要，”杨说。</blockquote></p><p> And the market is getting less and less impressed by super strong data, because that's what it has come to expect.</p><p><blockquote>市场对超级强劲的数据越来越不感兴趣，因为这是它所期待的。</blockquote></p><p> As for where to invest, she advises thinking in terms of the year and the economic cycle.</p><p><blockquote>至于在哪里投资，她建议根据年份和经济周期来思考。</blockquote></p><p> \"So I think for the rest of this year, we do see rates drift up, meaning the 10-year drifting upward, which should probably put some pressure on those high-growth stocks,\" Young said. She's not saying negative returns are coming, but said the move up in rates will revive the cyclical trade, benefitting value sectors. \"So that's where I would be looking.\"</p><p><blockquote>Young表示：“因此，我认为在今年剩余时间里，我们确实会看到利率上升，这意味着10年期利率上升，这可能会给那些高增长股票带来一些压力。”她并没有说负回报即将到来，但表示利率上升将重振周期性交易，使价值行业受益。“所以这就是我要找的地方。”</blockquote></p><p> As for the cycle, tech is still important because that sector is a \"bet on American prosperity for the long term and it's not going anywhere,\" and something she wouldn't \"trade in and out of for the rest of 2021.\"</p><p><blockquote>至于周期，科技仍然很重要，因为该行业是“对美国长期繁荣的押注，而且不会有任何进展”，而且她不会“在2021年剩余时间内进出”。</blockquote></p><p> She also sees continued improvement for small-cap stocks, given they were hardest hit in the pandemic and should keep bouncing back, with a healthy initial public offering market acting as a positive catalyst. European stocks, which are behind in that reopening trade, should also be a decent bet later in the year, notably as those indexes are rich in financials, which should benefit if global sovereign yields are headed higher.</p><p><blockquote>她还认为小盘股将持续改善，因为它们在疫情中受到的打击最严重，应该会继续反弹，健康的首次公开募股市场将成为积极的催化剂。在重新开放交易中落后的欧洲股市也应该是今年晚些时候的一个不错的赌注，特别是因为这些指数富含金融股，如果全球主权收益率走高，金融股应该会受益。</blockquote></p><p> Some final advice from Young has to do with trendy investments that have cropped up in the past year or so, such as meme stocks, crypto assets, special-purpose acquisition companies (SPACs), etc.</p><p><blockquote>Young的一些最后建议与过去一年左右出现的新潮投资有关，例如meme股票、加密资产、特殊目的收购公司（SPAC）等。</blockquote></p><p> As she advised in a recent blog post , while it's OK to invest in trendy assets, they shouldn't \"overwhelm the foundation of a durable portfolio, or cause you to redefine your risk tolerance just to 'get in the game.' \"</p><p><blockquote>正如她在最近的一篇博客文章中建议的那样，虽然投资时尚资产是可以的，但它们不应该“压倒持久投资组合的基础，或者让你为了‘参与游戏’而重新定义自己的风险承受能力。”</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>A big market transition is coming. Here's where investors should steer next, says this strategist.<blockquote>一场大的市场转型即将到来。这位策略师表示，这是投资者下一步应该转向的方向。</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\">\nA big market transition is coming. Here's where investors should steer next, says this strategist.<blockquote>一场大的市场转型即将到来。这位策略师表示，这是投资者下一步应该转向的方向。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-29 20:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The COVID-19 delta variant is starting to look like the killjoy of summer.</p><p><blockquote>新冠肺炎德尔塔变异毒株开始看起来像夏天的扫兴。</blockquote></p><p> So far, U.S. stocks haven't seen a major response, even though Los Angeles is now suggesting masks indoors again. But given how the variant, first identified in India, has marched across some countries, a speed bump or two for the reopening trade over the next few months can't be ruled out, especially if those cases start to take hold in the U.S.</p><p><blockquote>到目前为止，美国股市还没有出现重大反应，尽管洛杉矶现在再次建议在室内戴口罩。但考虑到这种首先在印度发现的变种已经在一些国家蔓延，不能排除未来几个月重新开放贸易会遇到一两个减速带的可能性，特别是如果这些病例开始在美国发生的话。</blockquote></p><p> Onto our call of the day provided by Liz Young, head of investment strategy at SoFi , a mobile-first personal finance company. She says we are headed for a big market transition in the latter half of the year -- into calm waters and no big surprises.</p><p><blockquote>移动优先的个人金融公司SoFi的投资策略主管Liz Young提供了我们的每日看涨期权。她表示，我们将在今年下半年迎来一次重大的市场转型——进入平静的水域，不会出现大的意外。</blockquote></p><p> \"However, I think it's going to feel like we need to eke out a little bit of return and it might feel hard won,\" Young, former director of market strategy at BNY Mellon, told MarketWatch.</p><p><blockquote>纽约梅隆银行前市场策略总监杨告诉MarketWatch：“然而，我认为我们需要勉强获得一点回报，而且可能感觉来之不易。”</blockquote></p><p> Looking back to last year, she said investors got used to big double digit gains in parts of the market as it rebounded, and noted the S&amp;P 500 has already hit more than 30 records this year.</p><p><blockquote>回顾去年，她表示，随着市场反弹，投资者已经习惯了部分市场两位数的大幅上涨，并指出标普500今年已创下30多项纪录。</blockquote></p><p> \"What I see happening in the second half of this year is that we have to start making this transition from the policy support -- which has really gotten us to this point -- back to the fundamental and durable strength in the market, in corporations, in the economy. So the data will start to matter,\" said Young.</p><p><blockquote>“我认为今年下半年会发生的情况是，我们必须开始从政策支持（这确实让我们走到了这一步）转向市场、企业和经济的基本和持久实力。因此，数据将开始变得重要，”杨说。</blockquote></p><p> And the market is getting less and less impressed by super strong data, because that's what it has come to expect.</p><p><blockquote>市场对超级强劲的数据越来越不感兴趣，因为这是它所期待的。</blockquote></p><p> As for where to invest, she advises thinking in terms of the year and the economic cycle.</p><p><blockquote>至于在哪里投资，她建议根据年份和经济周期来思考。</blockquote></p><p> \"So I think for the rest of this year, we do see rates drift up, meaning the 10-year drifting upward, which should probably put some pressure on those high-growth stocks,\" Young said. She's not saying negative returns are coming, but said the move up in rates will revive the cyclical trade, benefitting value sectors. \"So that's where I would be looking.\"</p><p><blockquote>Young表示：“因此，我认为在今年剩余时间里，我们确实会看到利率上升，这意味着10年期利率上升，这可能会给那些高增长股票带来一些压力。”她并没有说负回报即将到来，但表示利率上升将重振周期性交易，使价值行业受益。“所以这就是我要找的地方。”</blockquote></p><p> As for the cycle, tech is still important because that sector is a \"bet on American prosperity for the long term and it's not going anywhere,\" and something she wouldn't \"trade in and out of for the rest of 2021.\"</p><p><blockquote>至于周期，科技仍然很重要，因为该行业是“对美国长期繁荣的押注，而且不会有任何进展”，而且她不会“在2021年剩余时间内进出”。</blockquote></p><p> She also sees continued improvement for small-cap stocks, given they were hardest hit in the pandemic and should keep bouncing back, with a healthy initial public offering market acting as a positive catalyst. European stocks, which are behind in that reopening trade, should also be a decent bet later in the year, notably as those indexes are rich in financials, which should benefit if global sovereign yields are headed higher.</p><p><blockquote>她还认为小盘股将持续改善，因为它们在疫情中受到的打击最严重，应该会继续反弹，健康的首次公开募股市场将成为积极的催化剂。在重新开放交易中落后的欧洲股市也应该是今年晚些时候的一个不错的赌注，特别是因为这些指数富含金融股，如果全球主权收益率走高，金融股应该会受益。</blockquote></p><p> Some final advice from Young has to do with trendy investments that have cropped up in the past year or so, such as meme stocks, crypto assets, special-purpose acquisition companies (SPACs), etc.</p><p><blockquote>Young的一些最后建议与过去一年左右出现的新潮投资有关，例如meme股票、加密资产、特殊目的收购公司（SPAC）等。</blockquote></p><p> As she advised in a recent blog post , while it's OK to invest in trendy assets, they shouldn't \"overwhelm the foundation of a durable portfolio, or cause you to redefine your risk tolerance just to 'get in the game.' \"</p><p><blockquote>正如她在最近的一篇博客文章中建议的那样，虽然投资时尚资产是可以的，但它们不应该“压倒持久投资组合的基础，或者让你为了‘参与游戏’而重新定义自己的风险承受能力。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/a-big-market-transition-is-coming-heres-where-investors-should-steer-next-says-this-strategist-11624964589?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",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/a-big-market-transition-is-coming-heres-where-investors-should-steer-next-says-this-strategist-11624964589?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147868644","content_text":"The COVID-19 delta variant is starting to look like the killjoy of summer.\nSo far, U.S. stocks haven't seen a major response, even though Los Angeles is now suggesting masks indoors again. But given how the variant, first identified in India, has marched across some countries, a speed bump or two for the reopening trade over the next few months can't be ruled out, especially if those cases start to take hold in the U.S.\nOnto our call of the day provided by Liz Young, head of investment strategy at SoFi , a mobile-first personal finance company. She says we are headed for a big market transition in the latter half of the year -- into calm waters and no big surprises.\n\"However, I think it's going to feel like we need to eke out a little bit of return and it might feel hard won,\" Young, former director of market strategy at BNY Mellon, told MarketWatch.\nLooking back to last year, she said investors got used to big double digit gains in parts of the market as it rebounded, and noted the S&P 500 has already hit more than 30 records this year.\n\"What I see happening in the second half of this year is that we have to start making this transition from the policy support -- which has really gotten us to this point -- back to the fundamental and durable strength in the market, in corporations, in the economy. So the data will start to matter,\" said Young.\nAnd the market is getting less and less impressed by super strong data, because that's what it has come to expect.\nAs for where to invest, she advises thinking in terms of the year and the economic cycle.\n\"So I think for the rest of this year, we do see rates drift up, meaning the 10-year drifting upward, which should probably put some pressure on those high-growth stocks,\" Young said. She's not saying negative returns are coming, but said the move up in rates will revive the cyclical trade, benefitting value sectors. \"So that's where I would be looking.\"\nAs for the cycle, tech is still important because that sector is a \"bet on American prosperity for the long term and it's not going anywhere,\" and something she wouldn't \"trade in and out of for the rest of 2021.\"\nShe also sees continued improvement for small-cap stocks, given they were hardest hit in the pandemic and should keep bouncing back, with a healthy initial public offering market acting as a positive catalyst. European stocks, which are behind in that reopening trade, should also be a decent bet later in the year, notably as those indexes are rich in financials, which should benefit if global sovereign yields are headed higher.\nSome final advice from Young has to do with trendy investments that have cropped up in the past year or so, such as meme stocks, crypto assets, special-purpose acquisition companies (SPACs), etc.\nAs she advised in a recent blog post , while it's OK to invest in trendy assets, they shouldn't \"overwhelm the foundation of a durable portfolio, or cause you to redefine your risk tolerance just to 'get in the game.' \"","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2059,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140068064,"gmtCreate":1625620072858,"gmtModify":1631887148212,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140068064","repostId":"157208445","repostType":1,"repost":{"id":157208445,"gmtCreate":1625582178887,"gmtModify":1625582178887,"author":{"id":"39105730803552","authorId":"39105730803552","name":"格隆汇","avatar":"https://static.tigerbbs.com/8774dfe20eceb38c9645128bb6e60684","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"39105730803552","authorIdStr":"39105730803552"},"themes":[],"title":"超百倍认购的朝聚眼科（2219.HK）暗盘收涨，首秀表现值得期待","htmlText":"华北地区领先、全国知名的眼科医疗服务集团朝聚眼科于7月6日公布招股结果。据公告所示，朝聚眼科公开发售部分录得113.97倍认购倍数，国际配售部分所获约17.83倍认购倍数，加上公司是次IPO招股价最终以10.60港元的招股区间上限定价，以上数据均可直接反映出公司受到市场热捧的情况。朝聚眼科IPO引入基石投资者包括富国基金、Gigantic Wealth、The Valliance Fund及通柏资本(香港)，合共认购7,467.45万股股份，占经回拨后国际配售约87.4%比例，由此可见无论散户还是机构，在招股阶段对公司“筹码”的需求远大于供给，朝聚眼科股票的“抢手”程度可见一斑。在公布招股结果的同日，朝聚眼科在暗盘交易时段最终以4.15%涨幅报收，更为其在7月7日在联交所主板挂牌上市营造了良好的气氛。加之近期的港股新股市场赚钱效益或已逐步显现，时代天使、森松国际和和黄医药的首日上市大涨，更刷新了近年的记录，例如森松国际成为港股近三年来首日涨幅最高的个股。这些典型的案例说明了香港新股市场的赚钱效应再次回归。因此，仍有机会带动近期上市新股的股价表现。综合上述判断，兼具好赛道、好公司两大看涨潜力因子的朝聚眼科，在挂牌亮相资本市场的首秀中取得好的表现，相信将会是大概率的事件。千亿规模级别的细分市场潜力，对应千亿市值公司与至少十倍以上的增长空间眼科领域凭借着市场空间广阔，进入壁垒高，一直都被认为是医疗健康行业中的黄金赛道。随着我国老龄化程度加深，工作强度增大，生活方式转变，用眼不到等因素影响，患有各种眼科疾病的人数逐年升高，眼科治疗需求急剧增加，导致眼科市场出现快速增长。根据Frost &amp; Sullivan数据统计显示，中国眼科医疗服务市场在2019年已经达到1,275亿元，预计2024年将达到2,231亿元。其中，民营医疗机构**国眼科医疗服务市场的份额提升至31.7%，对","listText":"华北地区领先、全国知名的眼科医疗服务集团朝聚眼科于7月6日公布招股结果。据公告所示，朝聚眼科公开发售部分录得113.97倍认购倍数，国际配售部分所获约17.83倍认购倍数，加上公司是次IPO招股价最终以10.60港元的招股区间上限定价，以上数据均可直接反映出公司受到市场热捧的情况。朝聚眼科IPO引入基石投资者包括富国基金、Gigantic Wealth、The Valliance Fund及通柏资本(香港)，合共认购7,467.45万股股份，占经回拨后国际配售约87.4%比例，由此可见无论散户还是机构，在招股阶段对公司“筹码”的需求远大于供给，朝聚眼科股票的“抢手”程度可见一斑。在公布招股结果的同日，朝聚眼科在暗盘交易时段最终以4.15%涨幅报收，更为其在7月7日在联交所主板挂牌上市营造了良好的气氛。加之近期的港股新股市场赚钱效益或已逐步显现，时代天使、森松国际和和黄医药的首日上市大涨，更刷新了近年的记录，例如森松国际成为港股近三年来首日涨幅最高的个股。这些典型的案例说明了香港新股市场的赚钱效应再次回归。因此，仍有机会带动近期上市新股的股价表现。综合上述判断，兼具好赛道、好公司两大看涨潜力因子的朝聚眼科，在挂牌亮相资本市场的首秀中取得好的表现，相信将会是大概率的事件。千亿规模级别的细分市场潜力，对应千亿市值公司与至少十倍以上的增长空间眼科领域凭借着市场空间广阔，进入壁垒高，一直都被认为是医疗健康行业中的黄金赛道。随着我国老龄化程度加深，工作强度增大，生活方式转变，用眼不到等因素影响，患有各种眼科疾病的人数逐年升高，眼科治疗需求急剧增加，导致眼科市场出现快速增长。根据Frost &amp; Sullivan数据统计显示，中国眼科医疗服务市场在2019年已经达到1,275亿元，预计2024年将达到2,231亿元。其中，民营医疗机构**国眼科医疗服务市场的份额提升至31.7%，对","text":"华北地区领先、全国知名的眼科医疗服务集团朝聚眼科于7月6日公布招股结果。据公告所示，朝聚眼科公开发售部分录得113.97倍认购倍数，国际配售部分所获约17.83倍认购倍数，加上公司是次IPO招股价最终以10.60港元的招股区间上限定价，以上数据均可直接反映出公司受到市场热捧的情况。朝聚眼科IPO引入基石投资者包括富国基金、Gigantic Wealth、The Valliance Fund及通柏资本(香港)，合共认购7,467.45万股股份，占经回拨后国际配售约87.4%比例，由此可见无论散户还是机构，在招股阶段对公司“筹码”的需求远大于供给，朝聚眼科股票的“抢手”程度可见一斑。在公布招股结果的同日，朝聚眼科在暗盘交易时段最终以4.15%涨幅报收，更为其在7月7日在联交所主板挂牌上市营造了良好的气氛。加之近期的港股新股市场赚钱效益或已逐步显现，时代天使、森松国际和和黄医药的首日上市大涨，更刷新了近年的记录，例如森松国际成为港股近三年来首日涨幅最高的个股。这些典型的案例说明了香港新股市场的赚钱效应再次回归。因此，仍有机会带动近期上市新股的股价表现。综合上述判断，兼具好赛道、好公司两大看涨潜力因子的朝聚眼科，在挂牌亮相资本市场的首秀中取得好的表现，相信将会是大概率的事件。千亿规模级别的细分市场潜力，对应千亿市值公司与至少十倍以上的增长空间眼科领域凭借着市场空间广阔，进入壁垒高，一直都被认为是医疗健康行业中的黄金赛道。随着我国老龄化程度加深，工作强度增大，生活方式转变，用眼不到等因素影响，患有各种眼科疾病的人数逐年升高，眼科治疗需求急剧增加，导致眼科市场出现快速增长。根据Frost & Sullivan数据统计显示，中国眼科医疗服务市场在2019年已经达到1,275亿元，预计2024年将达到2,231亿元。其中，民营医疗机构**国眼科医疗服务市场的份额提升至31.7%，对","images":[],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/157208445","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2997,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126473050,"gmtCreate":1624583073970,"gmtModify":1631890586615,"author":{"id":"3581499471975307","authorId":"3581499471975307","name":"Jasmimim","avatar":"https://static.tigerbbs.com/165f2f93178759b448e25f6ae286da06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581499471975307","authorIdStr":"3581499471975307"},"themes":[],"htmlText":"Good to read this","listText":"Good to read this","text":"Good to read this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/126473050","repostId":"1152522341","repostType":4,"isVote":1,"tweetType":1,"viewCount":587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}