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2021-06-03

Hindsight is 2020

Here's Why Sundial Growers, Tilray, and Other Cannabis Stocks Soared Today<blockquote>这就是Sundial Growers、Tilray和其他大麻股票今天飙升的原因</blockquote>

2021-08-05

Alibaba ear temp monitoring device use in Olympic

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2021-08-18

Fabulous

The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote>

2021-07-23

Never too late,

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2021-06-12

Inflation prepAration on the way

Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>

2021-06-09

China can help

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2021-05-26

Biden worried, I no worries[Smile]

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2021-04-20

Looks good

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2021-08-11

Oh well

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2021-06-25

Yeah... Tesla investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX

Why Tesla stock is getting left in Ford's and GM's dust<blockquote>为什么特斯拉股票被福特和通用汽车甩在身后</blockquote>

2021-06-11

$185/ton. Oh no... Will buy electric car, if got more charging points in vicinity

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2021-06-03

Don't Go for Gold now

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2021-06-03

Watches Games stop going up last night

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2021-06-02

Arghhhh

Amazon Stock: Turning $100 Per Month Into $2.7 Million<blockquote>亚马逊股票：每月100美元变成270万美元</blockquote>

2021-06-01

Look out for it

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2021-06-01

Zoom heading to doom?

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2021-05-31

Too late to correct

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2021-08-20

Tesla the way to go now

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2021-06-27

Go for it!!

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2021-06-08

Apple I like

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the way to go now","listText":"Tesla the way to go now","text":"Tesla the way to go 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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":1629297237,"share":"https://www.laohu8.com/m/news/1173987909?lang=zh_CN&edition=full","pubTime":"2021-08-18 22:33","market":"hk","language":"en","title":"The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173987909","media":"Tiger Newspress","summary":"According to the latest policy directives issued in China, “The Tertiary Distribution” is about to b","content":"<p>According to the latest policy directives issued in China, “The Tertiary&nbsp;Distribution” is about to be put into effect. Citing various sources, the so-called “The Tertiary Distribution” refers to the further adjustment of social income distribution through social entities’ (enterprises and individuals) voluntary, charitable donations, which is in the stage of micro-adjustment. In the meantime, the policy also clearly instructs that the country should encourage high-income groups and enterprises to give back to society to a greater extent.</p><p><blockquote>根据中国最新发布的政策指示，“三次分配”即将落地。援引多方消息称，所谓“三次分配”，是指通过社会主体（企业和个人）自愿、慈善捐赠，进一步调节社会收入分配，处于微观调节阶段。其间，政策还明确指示，国家要鼓励高收入群体和企业更大程度地回馈社会。</blockquote></p><p> There are many high-income groups, including celebrities and real estate speculators. And, high-income companies, in terms of financial reports, include leading Internet companies, China’s top five banks, and other state-owned enterprises. Here, we will discuss what Internet companies should do in “The&nbsp;Tertiary Distribution.”</p><p><blockquote>高收入群体很多，有名人，也有炒房客。并且，高收入公司，就财报而言，包括领先的互联网公司、中国五大银行和其他国有企业。在这里，我们将讨论互联网公司在“三次分配”中应该做些什么。</blockquote></p><p> From the view of current beneficial donations, Internet companies have played an increasingly important role. Let’s take the flood disaster that recently occurred in Henan as an example. <a href=\"https://laohu8.com/S/00700\">TENCENT</a> donated 100 million yuan, <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> donated 100 million yuan, and Xiaomi donated 50 million yuan... But there are problems with the current way of donating by Internet companies.</p><p><blockquote>从目前的受益捐赠来看，互联网企业已经发挥了越来越重要的作用。我们以河南近期发生的洪涝灾害为例。<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>捐赠1亿元，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>捐了1亿元，小米捐了5000万……但目前互联网公司的捐赠方式存在问题。</blockquote></p><p> <b>1. The burden born by Internet companies is heavy.</b> Although the leading Internet companies have made plenty of profits, many companies are not profitable or even in the red. After the flood disaster of Henan province, Pinduoduo, the largest agriculture-focused technology platform in China, also announced a donation of 100 million yuan. It should be noted that the company is at a loss. The large-scale donation will also deliver an illusion to society: These companies are capable of donating more money.</p><p><blockquote><b>1、互联网企业背负的包袱很重。</b>虽然互联网龙头企业利润丰厚，但也有不少企业不盈利甚至亏损。河南省洪涝灾害发生后，国内最大的以农业为主的科技平台拼多多也宣布捐赠1亿元。需要注意的是，公司处于亏损状态。大规模的捐赠也会给社会传递一种错觉：这些公司有能力捐出更多的钱。</blockquote></p><p> <b>2. There is a phenomenon of unrealistic comparison among Internet companies.</b> The beneficial donations conducted by Internet corporates have entered the stage of comparison, which is related to Chinese cultural traditions. The donation amount of BAT (<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, Alibaba, and Tencent) is in one echelon, while that of <a href=\"https://laohu8.com/S/01810\">XIAOMI-W</a> and OmniVision is in another echelon. The comparison on donation amount makes companies complain, and it also makes the public feel that Internet companies are flaunting the considerable wealth.</p><p><blockquote><b>2、互联网企业之间存在不切实际的攀比现象。</b>互联网企业进行的有益捐赠进入攀比阶段，这与中国文化传统有关。英美烟草的捐赠金额（<a href=\"https://laohu8.com/S/BIDU\">百度</a>、阿里巴巴-SW和腾讯控股）处于同一梯队，而<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>而豪威则处于另一个梯队。捐赠金额上的对比让企业叫苦不迭，也让公众觉得互联网企业在炫耀可观的财富。</blockquote></p><p> <b>3. Public beneficial donations are not sustainable.</b> Tencent donated 100 million yuan to help people in Henan fight the natural calamity. What should Tencent do if there is another city suffering from disaster? How much should Tencent donate if there are more natural calamities? Global warming will give rise to more and more disasters. Therefore, the immoderate, planless donations will become a big unknown for the future operation of these enterprises.</p><p><blockquote><b>3.公益性捐赠不可持续。</b>腾讯控股捐赠1亿元帮助河南省人民抗击自然灾害。如果再有一个城市遭受灾难，腾讯控股该怎么办？如果有更多的自然灾害，腾讯控股应该捐多少？全球变暖将导致越来越多的灾难。因此，无节制的、无计划的捐款将成为这些企业未来经营的一大未知数。</blockquote></p><p> The United States is the country that has done the best in public welfare. As a leading conglomerate in the United States, how does <a href=\"https://laohu8.com/S/AAPL\">Apple</a> deal with “The Tertiary Distributions?”</p><p><blockquote>美国是在公益方面做得最好的国家。作为美国领先的企业集团，如何<a href=\"https://laohu8.com/S/AAPL\">苹果</a>处理“三级分布？”</blockquote></p><p> Apple has partly disclosed the information on its charitable donations. According to the disclosure, charitable donations completed by Apple can be divided into three parts: <b>a. Employee Giving Program; b. Community Investment Team; c. Grant Program</b>.</p><p><blockquote>苹果已经部分披露了其慈善捐款的信息。根据披露，苹果完成的慈善捐赠可以分为三个部分：<b>a.员工捐赠计划；b.社区投资团队；c.赠款计划</b>.</blockquote></p><p> The second public welfare plan, namely “Community Investment Team,” is for NGOs across the globe. Since the amount has not been disclosed, it is estimated that the amount of donation is not much. The third plan “Grant Program” is for the locations of Apple/groups, with an annual quota of $1 million. Only the first plan is the focus of Apple’s philanthropy.</p><p><blockquote>第二个公益计划，即“社区投资团队”，面向全球的非政府组织。由于未公开金额，估计捐款金额不多。第三个计划“赠款计划”面向苹果/团体所在地，每年额度为100万美元。只有第一个计划是苹果慈善事业的重点。</blockquote></p><p> Apple’s Employee Giving Program is based on employee donations, and the company conducts a match rate of 1:1. Beyond that, Apple will also match the time spent by employees in public welfare activities at $25 per hour. Since the implementation of the project in 2011, more than $600 million has been donated by the company and its employees, benefiting 34,000 organizations worldwide, and employees have together contributed 1.6 million hours of work.</p><p><blockquote>苹果的员工捐赠计划以员工捐赠为基础，公司进行1：1的匹配比例。除此之外，苹果还将为员工在公益活动中花费的时间按每小时25美元进行匹配。自2011年项目实施以来，该公司及其员工已捐赠超过6亿美元，惠及全球34,000个组织，员工共同贡献了160万小时的工作。</blockquote></p><p> The advantages are listed as follows:</p><p><blockquote>优点列举如下：</blockquote></p><p> <b>1. The company can be better protected. </b>The company’s move of placing employees on the front line of public welfare undertakings can arouse the enthusiasm of employees and also hide the company behind them. Apple will never get caught up in public opinions like “Why don’t Apple donate as much as <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</p><p><blockquote><b>1、公司可以得到更好的保护。</b>公司将员工放在公益事业第一线的举动，可以调动员工的积极性，也可以将公司隐藏在背后。苹果永远不会陷入像“为什么苹果不捐那么多钱<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</blockquote></p><p></p><p> <b>2. Tax avoidance is best realized.</b> Donations made by enterprises to public welfare undertakings will always be suspected of tax avoidance and will also be questioned by the public. However, if the donation amount of an enterprise is matched by that of employees, the company’s expenditure can be figured in the employee’s expense item (salary) in the company’s financial report, which reduces the tax base.</p><p><blockquote><b>2.避税最好实现。</b>企业对公益事业的捐款总会有避税的嫌疑，也会受到公众的质疑。但是，如果企业的捐赠金额与员工的捐赠金额相匹配，公司的支出可以在公司财报中员工的费用项目（工资）中计算，这样就减少了税基。</blockquote></p><p> <b>3. The scope of charity is wider.</b> Apple has a large number of employees spreading widely around the world. The charity projects they seek on their own are far more than those concerned by the media. Apple’s philanthropy spreads to all corners of society, which will be pretty good for the overall image of Apple. Compared with the recently happened disaster in Henan province which attracted countless donations, there are more other public welfare undertakings that have not been reported by media and paid attention to by both individuals and companies. If employees of Tencent, Alibaba, and Xiaomi can be mobilized to explore more public welfare projects, the inclusive work for society will be much better.</p><p><blockquote><b>3.慈善的范围更广。</b>苹果拥有大量员工，广泛分布在世界各地。他们自己寻求的慈善项目远不止媒体关注的那些。苹果的慈善事业普及到社会各个角落，对苹果的整体形象会是相当不错的。与最近发生在河南省的灾难吸引了无数的捐款相比，还有更多的其他公益事业没有被媒体报道，也没有被个人和公司所关注。如果能发动腾讯控股、阿里巴巴-SW、小米的员工去探索更多的公益项目，对社会的普惠工作会好很多。</blockquote></p><p> To my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”</p><p><blockquote>在我看来，中国互联网企业应该借鉴苹果的经验，切实迎接“三次发行”。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-18 22:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>According to the latest policy directives issued in China, “The Tertiary&nbsp;Distribution” is about to be put into effect. Citing various sources, the so-called “The Tertiary Distribution” refers to the further adjustment of social income distribution through social entities’ (enterprises and individuals) voluntary, charitable donations, which is in the stage of micro-adjustment. In the meantime, the policy also clearly instructs that the country should encourage high-income groups and enterprises to give back to society to a greater extent.</p><p><blockquote>根据中国最新发布的政策指示，“三次分配”即将落地。援引多方消息称，所谓“三次分配”，是指通过社会主体（企业和个人）自愿、慈善捐赠，进一步调节社会收入分配，处于微观调节阶段。其间，政策还明确指示，国家要鼓励高收入群体和企业更大程度地回馈社会。</blockquote></p><p> There are many high-income groups, including celebrities and real estate speculators. And, high-income companies, in terms of financial reports, include leading Internet companies, China’s top five banks, and other state-owned enterprises. Here, we will discuss what Internet companies should do in “The&nbsp;Tertiary Distribution.”</p><p><blockquote>高收入群体很多，有名人，也有炒房客。并且，高收入公司，就财报而言，包括领先的互联网公司、中国五大银行和其他国有企业。在这里，我们将讨论互联网公司在“三次分配”中应该做些什么。</blockquote></p><p> From the view of current beneficial donations, Internet companies have played an increasingly important role. Let’s take the flood disaster that recently occurred in Henan as an example. <a href=\"https://laohu8.com/S/00700\">TENCENT</a> donated 100 million yuan, <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> donated 100 million yuan, and Xiaomi donated 50 million yuan... But there are problems with the current way of donating by Internet companies.</p><p><blockquote>从目前的受益捐赠来看，互联网企业已经发挥了越来越重要的作用。我们以河南近期发生的洪涝灾害为例。<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>捐赠1亿元，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>捐了1亿元，小米捐了5000万……但目前互联网公司的捐赠方式存在问题。</blockquote></p><p> <b>1. The burden born by Internet companies is heavy.</b> Although the leading Internet companies have made plenty of profits, many companies are not profitable or even in the red. After the flood disaster of Henan province, Pinduoduo, the largest agriculture-focused technology platform in China, also announced a donation of 100 million yuan. It should be noted that the company is at a loss. The large-scale donation will also deliver an illusion to society: These companies are capable of donating more money.</p><p><blockquote><b>1、互联网企业背负的包袱很重。</b>虽然互联网龙头企业利润丰厚，但也有不少企业不盈利甚至亏损。河南省洪涝灾害发生后，国内最大的以农业为主的科技平台拼多多也宣布捐赠1亿元。需要注意的是，公司处于亏损状态。大规模的捐赠也会给社会传递一种错觉：这些公司有能力捐出更多的钱。</blockquote></p><p> <b>2. There is a phenomenon of unrealistic comparison among Internet companies.</b> The beneficial donations conducted by Internet corporates have entered the stage of comparison, which is related to Chinese cultural traditions. The donation amount of BAT (<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, Alibaba, and Tencent) is in one echelon, while that of <a href=\"https://laohu8.com/S/01810\">XIAOMI-W</a> and OmniVision is in another echelon. The comparison on donation amount makes companies complain, and it also makes the public feel that Internet companies are flaunting the considerable wealth.</p><p><blockquote><b>2、互联网企业之间存在不切实际的攀比现象。</b>互联网企业进行的有益捐赠进入攀比阶段，这与中国文化传统有关。英美烟草的捐赠金额（<a href=\"https://laohu8.com/S/BIDU\">百度</a>、阿里巴巴-SW和腾讯控股）处于同一梯队，而<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>而豪威则处于另一个梯队。捐赠金额上的对比让企业叫苦不迭，也让公众觉得互联网企业在炫耀可观的财富。</blockquote></p><p> <b>3. Public beneficial donations are not sustainable.</b> Tencent donated 100 million yuan to help people in Henan fight the natural calamity. What should Tencent do if there is another city suffering from disaster? How much should Tencent donate if there are more natural calamities? Global warming will give rise to more and more disasters. Therefore, the immoderate, planless donations will become a big unknown for the future operation of these enterprises.</p><p><blockquote><b>3.公益性捐赠不可持续。</b>腾讯控股捐赠1亿元帮助河南省人民抗击自然灾害。如果再有一个城市遭受灾难，腾讯控股该怎么办？如果有更多的自然灾害，腾讯控股应该捐多少？全球变暖将导致越来越多的灾难。因此，无节制的、无计划的捐款将成为这些企业未来经营的一大未知数。</blockquote></p><p> The United States is the country that has done the best in public welfare. As a leading conglomerate in the United States, how does <a href=\"https://laohu8.com/S/AAPL\">Apple</a> deal with “The Tertiary Distributions?”</p><p><blockquote>美国是在公益方面做得最好的国家。作为美国领先的企业集团，如何<a href=\"https://laohu8.com/S/AAPL\">苹果</a>处理“三级分布？”</blockquote></p><p> Apple has partly disclosed the information on its charitable donations. According to the disclosure, charitable donations completed by Apple can be divided into three parts: <b>a. Employee Giving Program; b. Community Investment Team; c. Grant Program</b>.</p><p><blockquote>苹果已经部分披露了其慈善捐款的信息。根据披露，苹果完成的慈善捐赠可以分为三个部分：<b>a.员工捐赠计划；b.社区投资团队；c.赠款计划</b>.</blockquote></p><p> The second public welfare plan, namely “Community Investment Team,” is for NGOs across the globe. Since the amount has not been disclosed, it is estimated that the amount of donation is not much. The third plan “Grant Program” is for the locations of Apple/groups, with an annual quota of $1 million. Only the first plan is the focus of Apple’s philanthropy.</p><p><blockquote>第二个公益计划，即“社区投资团队”，面向全球的非政府组织。由于未公开金额，估计捐款金额不多。第三个计划“赠款计划”面向苹果/团体所在地，每年额度为100万美元。只有第一个计划是苹果慈善事业的重点。</blockquote></p><p> Apple’s Employee Giving Program is based on employee donations, and the company conducts a match rate of 1:1. Beyond that, Apple will also match the time spent by employees in public welfare activities at $25 per hour. Since the implementation of the project in 2011, more than $600 million has been donated by the company and its employees, benefiting 34,000 organizations worldwide, and employees have together contributed 1.6 million hours of work.</p><p><blockquote>苹果的员工捐赠计划以员工捐赠为基础，公司进行1：1的匹配比例。除此之外，苹果还将为员工在公益活动中花费的时间按每小时25美元进行匹配。自2011年项目实施以来，该公司及其员工已捐赠超过6亿美元，惠及全球34,000个组织，员工共同贡献了160万小时的工作。</blockquote></p><p> The advantages are listed as follows:</p><p><blockquote>优点列举如下：</blockquote></p><p> <b>1. The company can be better protected. </b>The company’s move of placing employees on the front line of public welfare undertakings can arouse the enthusiasm of employees and also hide the company behind them. Apple will never get caught up in public opinions like “Why don’t Apple donate as much as <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</p><p><blockquote><b>1、公司可以得到更好的保护。</b>公司将员工放在公益事业第一线的举动，可以调动员工的积极性，也可以将公司隐藏在背后。苹果永远不会陷入像“为什么苹果不捐那么多钱<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</blockquote></p><p></p><p> <b>2. Tax avoidance is best realized.</b> Donations made by enterprises to public welfare undertakings will always be suspected of tax avoidance and will also be questioned by the public. However, if the donation amount of an enterprise is matched by that of employees, the company’s expenditure can be figured in the employee’s expense item (salary) in the company’s financial report, which reduces the tax base.</p><p><blockquote><b>2.避税最好实现。</b>企业对公益事业的捐款总会有避税的嫌疑，也会受到公众的质疑。但是，如果企业的捐赠金额与员工的捐赠金额相匹配，公司的支出可以在公司财报中员工的费用项目（工资）中计算，这样就减少了税基。</blockquote></p><p> <b>3. The scope of charity is wider.</b> Apple has a large number of employees spreading widely around the world. The charity projects they seek on their own are far more than those concerned by the media. Apple’s philanthropy spreads to all corners of society, which will be pretty good for the overall image of Apple. Compared with the recently happened disaster in Henan province which attracted countless donations, there are more other public welfare undertakings that have not been reported by media and paid attention to by both individuals and companies. If employees of Tencent, Alibaba, and Xiaomi can be mobilized to explore more public welfare projects, the inclusive work for society will be much better.</p><p><blockquote><b>3.慈善的范围更广。</b>苹果拥有大量员工，广泛分布在世界各地。他们自己寻求的慈善项目远不止媒体关注的那些。苹果的慈善事业普及到社会各个角落，对苹果的整体形象会是相当不错的。与最近发生在河南省的灾难吸引了无数的捐款相比，还有更多的其他公益事业没有被媒体报道，也没有被个人和公司所关注。如果能发动腾讯控股、阿里巴巴-SW、小米的员工去探索更多的公益项目，对社会的普惠工作会好很多。</blockquote></p><p> To my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”</p><p><blockquote>在我看来，中国互联网企业应该借鉴苹果的经验，切实迎接“三次发行”。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","01810":"小米集团-W","PDD":"拼多多","00700":"腾讯控股","BIDU":"百度","BABA":"阿里巴巴"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173987909","content_text":"According to the latest policy directives issued in China, “The Tertiary Distribution” is about to be put into effect. Citing various sources, the so-called “The Tertiary Distribution” refers to the further adjustment of social income distribution through social entities’ (enterprises and individuals) voluntary, charitable donations, which is in the stage of micro-adjustment. In the meantime, the policy also clearly instructs that the country should encourage high-income groups and enterprises to give back to society to a greater extent.\nThere are many high-income groups, including celebrities and real estate speculators. And, high-income companies, in terms of financial reports, include leading Internet companies, China’s top five banks, and other state-owned enterprises. Here, we will discuss what Internet companies should do in “The Tertiary Distribution.”\nFrom the view of current beneficial donations, Internet companies have played an increasingly important role. Let’s take the flood disaster that recently occurred in Henan as an example. TENCENT donated 100 million yuan, Alibaba donated 100 million yuan, and Xiaomi donated 50 million yuan... But there are problems with the current way of donating by Internet companies.\n1. The burden born by Internet companies is heavy. Although the leading Internet companies have made plenty of profits, many companies are not profitable or even in the red. After the flood disaster of Henan province, Pinduoduo, the largest agriculture-focused technology platform in China, also announced a donation of 100 million yuan. It should be noted that the company is at a loss. The large-scale donation will also deliver an illusion to society: These companies are capable of donating more money.\n2. There is a phenomenon of unrealistic comparison among Internet companies. The beneficial donations conducted by Internet corporates have entered the stage of comparison, which is related to Chinese cultural traditions. The donation amount of BAT (Baidu, Alibaba, and Tencent) is in one echelon, while that of XIAOMI-W and OmniVision is in another echelon. The comparison on donation amount makes companies complain, and it also makes the public feel that Internet companies are flaunting the considerable wealth.\n3. Public beneficial donations are not sustainable. Tencent donated 100 million yuan to help people in Henan fight the natural calamity. What should Tencent do if there is another city suffering from disaster? How much should Tencent donate if there are more natural calamities? Global warming will give rise to more and more disasters. Therefore, the immoderate, planless donations will become a big unknown for the future operation of these enterprises.\nThe United States is the country that has done the best in public welfare. As a leading conglomerate in the United States, how does Apple deal with “The Tertiary Distributions?”\nApple has partly disclosed the information on its charitable donations. According to the disclosure, charitable donations completed by Apple can be divided into three parts: a. Employee Giving Program; b. Community Investment Team; c. Grant Program.\nThe second public welfare plan, namely “Community Investment Team,” is for NGOs across the globe. Since the amount has not been disclosed, it is estimated that the amount of donation is not much. The third plan “Grant Program” is for the locations of Apple/groups, with an annual quota of $1 million. Only the first plan is the focus of Apple’s philanthropy.\nApple’s Employee Giving Program is based on employee donations, and the company conducts a match rate of 1:1. Beyond that, Apple will also match the time spent by employees in public welfare activities at $25 per hour. Since the implementation of the project in 2011, more than $600 million has been donated by the company and its employees, benefiting 34,000 organizations worldwide, and employees have together contributed 1.6 million hours of work.\nThe advantages are listed as follows:\n1. The company can be better protected. The company’s move of placing employees on the front line of public welfare undertakings can arouse the enthusiasm of employees and also hide the company behind them. Apple will never get caught up in public opinions like “Why don’t Apple donate as much as Alphabet?”.\n2. Tax avoidance is best realized. Donations made by enterprises to public welfare undertakings will always be suspected of tax avoidance and will also be questioned by the public. However, if the donation amount of an enterprise is matched by that of employees, the company’s expenditure can be figured in the employee’s expense item (salary) in the company’s financial report, which reduces the tax base.\n3. The scope of charity is wider. Apple has a large number of employees spreading widely around the world. The charity projects they seek on their own are far more than those concerned by the media. Apple’s philanthropy spreads to all corners of society, which will be pretty good for the overall image of Apple. Compared with the recently happened disaster in Henan province which attracted countless donations, there are more other public welfare undertakings that have not been reported by media and paid attention to by both individuals and companies. If employees of Tencent, Alibaba, and Xiaomi can be mobilized to explore more public welfare projects, the inclusive work for society will be much better.\nTo my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”","news_type":1,"symbols_score_info":{"PDD":0.9,"BIDU":0.9,"01810":0.9,"BABA":0.9,"AAPL":0.9,"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":3164,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892505006,"gmtCreate":1628669847505,"gmtModify":1631888804994,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Oh well","listText":"Oh well","text":"Oh well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/892505006","repostId":"2158475046","repostType":4,"isVote":1,"tweetType":1,"viewCount":3454,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899136250,"gmtCreate":1628167803470,"gmtModify":1631888805008,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Alibaba ear temp monitoring device use in Olympic&nbsp;","listText":"Alibaba ear temp monitoring device use in Olympic&nbsp;","text":"Alibaba ear temp monitoring device use in Olympic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/899136250","repostId":"2157943956","repostType":4,"isVote":1,"tweetType":1,"viewCount":2958,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175482405,"gmtCreate":1627046898907,"gmtModify":1631888805018,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Never too late,&nbsp;","listText":"Never too late,&nbsp;","text":"Never too late,","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/175482405","repostId":"2153983451","repostType":4,"isVote":1,"tweetType":1,"viewCount":3254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144155166,"gmtCreate":1626272933555,"gmtModify":1631888805030,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Open sesame😀","listText":"Open sesame😀","text":"Open sesame😀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144155166","repostId":"1140308728","repostType":4,"isVote":1,"tweetType":1,"viewCount":2283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154305896,"gmtCreate":1625475835015,"gmtModify":1631888805041,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Close on independence day","listText":"Close on independence day","text":"Close on independence day","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154305896","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohu8.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</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\">\nIs the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">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":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2566,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124781668,"gmtCreate":1624792502754,"gmtModify":1631888805053,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Go for it!!","listText":"Go for it!!","text":"Go for it!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124781668","repostId":"1140044383","repostType":4,"isVote":1,"tweetType":1,"viewCount":5099,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122494530,"gmtCreate":1624629497820,"gmtModify":1631888805104,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Yeah... Tesla&nbsp; investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX","listText":"Yeah... Tesla&nbsp; investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX","text":"Yeah... Tesla investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122494530","repostId":"1116076888","repostType":4,"repost":{"id":"1116076888","kind":"news","pubTimestamp":1624612129,"share":"https://www.laohu8.com/m/news/1116076888?lang=zh_CN&edition=full","pubTime":"2021-06-25 17:08","market":"us","language":"en","title":"Why Tesla stock is getting left in Ford's and GM's dust<blockquote>为什么特斯拉股票被福特和通用汽车甩在身后</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1116076888","media":"cnn","summary":"New York Tesla had a stellar 2020: The electric car maker was added to the S&P 500 and the stock surged an electrifying 743%. But some investors have pulled the plug on the company lately.Tesla  shares are nearly 25% below their all-time high set earlier in the year, and down 2% for 2021 to date -— a time when traditional automakers are surging as they ramp up electric vehicle ambitions.It seems investors are a bit infatuated with these legacy Big 3 automakers as they look to rapidly expand thei","content":"<p>New York (CNN Business)Tesla had a stellar 2020: The electric car maker was added to the S&amp;P 500 and the stock surged an electrifying 743%. But some investors have pulled the plug on the company lately.</p><p><blockquote>纽约（CNN商业）特斯拉2020年表现出色：这家电动汽车制造商被纳入标普500，股价飙升743%。但一些投资者最近退出了该公司。</blockquote></p><p> Tesla (TSLA) shares are nearly 25% below their all-time high set earlier in the year, and down 2% for 2021 to date -— a time when traditional automakers are surging as they ramp up electric vehicle ambitions.</p><p><blockquote>特斯拉(TSLA)股价较今年早些时候创下的历史高点低近25%，2021年迄今已下跌2%——此时传统汽车制造商正在飙升，因为他们加大了电动汽车的雄心。</blockquote></p><p> Ford (F) stock is up nearly 75%, putting it in the top 10 of the S&amp;P 500 in 2021. The company unveiled its electric F-150 Lightning truck last month and also told investors that it now expects electric vehicles to account for 40% of global sales by 2030.</p><p><blockquote>福特(F)股价上涨近75%，跻身2021年标普500前十名。该公司上个月推出了电动F-150 Lightning卡车，还告诉投资者，目前预计到2030年电动汽车将占全球销量的40%。</blockquote></p><p> And GM (GM) is up more than 40% as well. The Chevrolet, Buick and Cadillac maker said this month that it's looking to spend a whopping $35 billion on EVs by 2025.</p><p><blockquote>通用汽车(GM)也上涨了40%以上。这家雪佛兰、别克和凯迪拉克制造商本月表示，计划到2025年在电动汽车上投入高达350亿美元。</blockquote></p><p> It seems investors are a bit infatuated with these legacy Big 3 automakers as they look to rapidly expand their electric car offerings to catch up with Tesla.</p><p><blockquote>投资者似乎对这些传统的三大汽车制造商有点迷恋，因为他们希望迅速扩大电动汽车产品以赶上特斯拉。</blockquote></p><p> Tesla is still growing incredibly quickly. Analysts expect earnings per share to more than double this year and increase at an average rate of about 45% annually over the next few years.</p><p><blockquote>特斯拉仍在以令人难以置信的速度增长。分析师预计，今年每股收益将增长一倍以上，未来几年将以年均45%左右的速度增长。</blockquote></p><p> Yet Tesla is one of the most polarizing stocks on Wall Street.</p><p><blockquote>然而，特斯拉是华尔街最两极分化的股票之一。</blockquote></p><p> According to Refinitiv, 14 analysts have the stock rated a \"buy,\" 13 a \"hold\" and 10 a \"sell.\" Contrast that with GM, which has 20 buy ratings, two holds and no sells.</p><p><blockquote>根据Refinitiv的数据，14名分析师将该股评级为“买入”，13名分析师评级为“持有”，10名分析师评级为“卖出”。相比之下，通用汽车有20个买入评级，2个持有评级，没有卖出评级。</blockquote></p><p> <b>Skeptics have many questions about Tesla and Musk</b></p><p><blockquote><b>怀疑论者对特斯拉和马斯克有很多疑问</b></blockquote></p><p> The consensus target price for Tesla stock from analysts is $652, about 6% lower than its current price.</p><p><blockquote>分析师对特斯拉股票的一致目标价为652美元，比当前价格低约6%。</blockquote></p><p> Tesla critics have a pile of worries to point to. A notable short seller who was featured in \"The Big Short\" is betting against the company. Concerns about Tesla's management bench sprung up after longtime executive Jerome Guillen abruptly left earlier this month — especially since CEO Elon Musk is also busy running SpaceX.</p><p><blockquote>特斯拉的批评者有一大堆担忧要指出。《大空头》中的一位著名卖空者正在做空该公司。在长期高管Jerome Guillen本月早些时候突然离职后，人们对特斯拉管理层的担忧激增——特别是因为首席执行官Elon Musk也在忙于运营SpaceX。</blockquote></p><p> And Musk's obsession with bitcoin and dogecoin, along with other extracurricular activities like hosting Saturday Night Live and constantly tweeting, might be a turnoff for some investors and analysts.</p><p><blockquote>马斯克对比特币和狗狗币的痴迷，以及主持周六夜现场和不断发推文等其他课外活动，可能会让一些投资者和分析师感到厌烦。</blockquote></p><p> Still, there is no denying that the company has plenty of ardent fans, and its vehicles have grabbed plenty of positive headlines this week alone.</p><p><blockquote>尽管如此，不可否认的是，该公司拥有大量热情的粉丝，其车辆仅在本周就占据了大量正面头条新闻。</blockquote></p><p> For example, Cars.com (CARS) announced earlier this week that Tesla's Model 3 was ranked first in its American-Made Index, which measures how much a vehicle contributes to the US economy based on factors such as domestic factory jobs, manufacturing plants and parts sourcing.</p><p><blockquote>例如，Cars.com(CARS)本周早些时候宣布，特斯拉Model 3在其美国制造指数中排名第一，该指数根据国内工厂就业、制造工厂等因素衡量车辆对美国经济的贡献程度和零部件采购。</blockquote></p><p> The Model 3 edged out Ford's Mustang for the top spot, and Tesla's Model Y also ranked third on the list. Shares of Tesla rallied more than 5% Wednesday following the news.</p><p><blockquote>Model 3力压福特野马夺得榜首，特斯拉Model Y也位列榜单第三。消息传出后，特斯拉股价周三上涨超过5%。</blockquote></p><p> The stock gained even more ground Thursday after Musk tweeted the night before that Tesla investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX eventually decides to spin off the satellite internet service in a few years.</p><p><blockquote>马斯克前一天晚上在推特上表示，如果SpaceX最终决定在几年内剥离卫星互联网服务，特斯拉投资者可能会获得购买SpaceX旗下Starlink股票的优惠待遇，该股周四进一步上涨。</blockquote></p><p> So even though Tesla's stock is still in the red this year, shares have quickly clawed back much of their 2021 losses after a more than 12% surge in the past five days.</p><p><blockquote>因此，尽管特斯拉的股价今年仍处于亏损状态，但在过去五天飙升超过12%后，该股已迅速收复了2021年的大部分跌幅。</blockquote></p><p> Tesla is nothing if not volatile.</p><p><blockquote>如果不是不稳定的话，特斯拉什么都不是。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Tesla stock is getting left in Ford's and GM's dust<blockquote>为什么特斯拉股票被福特和通用汽车甩在身后</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Tesla stock is getting left in Ford's and GM's dust<blockquote>为什么特斯拉股票被福特和通用汽车甩在身后</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-06-25 17:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>New York (CNN Business)Tesla had a stellar 2020: The electric car maker was added to the S&amp;P 500 and the stock surged an electrifying 743%. But some investors have pulled the plug on the company lately.</p><p><blockquote>纽约（CNN商业）特斯拉2020年表现出色：这家电动汽车制造商被纳入标普500，股价飙升743%。但一些投资者最近退出了该公司。</blockquote></p><p> Tesla (TSLA) shares are nearly 25% below their all-time high set earlier in the year, and down 2% for 2021 to date -— a time when traditional automakers are surging as they ramp up electric vehicle ambitions.</p><p><blockquote>特斯拉(TSLA)股价较今年早些时候创下的历史高点低近25%，2021年迄今已下跌2%——此时传统汽车制造商正在飙升，因为他们加大了电动汽车的雄心。</blockquote></p><p> Ford (F) stock is up nearly 75%, putting it in the top 10 of the S&amp;P 500 in 2021. The company unveiled its electric F-150 Lightning truck last month and also told investors that it now expects electric vehicles to account for 40% of global sales by 2030.</p><p><blockquote>福特(F)股价上涨近75%，跻身2021年标普500前十名。该公司上个月推出了电动F-150 Lightning卡车，还告诉投资者，目前预计到2030年电动汽车将占全球销量的40%。</blockquote></p><p> And GM (GM) is up more than 40% as well. The Chevrolet, Buick and Cadillac maker said this month that it's looking to spend a whopping $35 billion on EVs by 2025.</p><p><blockquote>通用汽车(GM)也上涨了40%以上。这家雪佛兰、别克和凯迪拉克制造商本月表示，计划到2025年在电动汽车上投入高达350亿美元。</blockquote></p><p> It seems investors are a bit infatuated with these legacy Big 3 automakers as they look to rapidly expand their electric car offerings to catch up with Tesla.</p><p><blockquote>投资者似乎对这些传统的三大汽车制造商有点迷恋，因为他们希望迅速扩大电动汽车产品以赶上特斯拉。</blockquote></p><p> Tesla is still growing incredibly quickly. Analysts expect earnings per share to more than double this year and increase at an average rate of about 45% annually over the next few years.</p><p><blockquote>特斯拉仍在以令人难以置信的速度增长。分析师预计，今年每股收益将增长一倍以上，未来几年将以年均45%左右的速度增长。</blockquote></p><p> Yet Tesla is one of the most polarizing stocks on Wall Street.</p><p><blockquote>然而，特斯拉是华尔街最两极分化的股票之一。</blockquote></p><p> According to Refinitiv, 14 analysts have the stock rated a \"buy,\" 13 a \"hold\" and 10 a \"sell.\" Contrast that with GM, which has 20 buy ratings, two holds and no sells.</p><p><blockquote>根据Refinitiv的数据，14名分析师将该股评级为“买入”，13名分析师评级为“持有”，10名分析师评级为“卖出”。相比之下，通用汽车有20个买入评级，2个持有评级，没有卖出评级。</blockquote></p><p> <b>Skeptics have many questions about Tesla and Musk</b></p><p><blockquote><b>怀疑论者对特斯拉和马斯克有很多疑问</b></blockquote></p><p> The consensus target price for Tesla stock from analysts is $652, about 6% lower than its current price.</p><p><blockquote>分析师对特斯拉股票的一致目标价为652美元，比当前价格低约6%。</blockquote></p><p> Tesla critics have a pile of worries to point to. A notable short seller who was featured in \"The Big Short\" is betting against the company. Concerns about Tesla's management bench sprung up after longtime executive Jerome Guillen abruptly left earlier this month — especially since CEO Elon Musk is also busy running SpaceX.</p><p><blockquote>特斯拉的批评者有一大堆担忧要指出。《大空头》中的一位著名卖空者正在做空该公司。在长期高管Jerome Guillen本月早些时候突然离职后，人们对特斯拉管理层的担忧激增——特别是因为首席执行官Elon Musk也在忙于运营SpaceX。</blockquote></p><p> And Musk's obsession with bitcoin and dogecoin, along with other extracurricular activities like hosting Saturday Night Live and constantly tweeting, might be a turnoff for some investors and analysts.</p><p><blockquote>马斯克对比特币和狗狗币的痴迷，以及主持周六夜现场和不断发推文等其他课外活动，可能会让一些投资者和分析师感到厌烦。</blockquote></p><p> Still, there is no denying that the company has plenty of ardent fans, and its vehicles have grabbed plenty of positive headlines this week alone.</p><p><blockquote>尽管如此，不可否认的是，该公司拥有大量热情的粉丝，其车辆仅在本周就占据了大量正面头条新闻。</blockquote></p><p> For example, Cars.com (CARS) announced earlier this week that Tesla's Model 3 was ranked first in its American-Made Index, which measures how much a vehicle contributes to the US economy based on factors such as domestic factory jobs, manufacturing plants and parts sourcing.</p><p><blockquote>例如，Cars.com(CARS)本周早些时候宣布，特斯拉Model 3在其美国制造指数中排名第一，该指数根据国内工厂就业、制造工厂等因素衡量车辆对美国经济的贡献程度和零部件采购。</blockquote></p><p> The Model 3 edged out Ford's Mustang for the top spot, and Tesla's Model Y also ranked third on the list. Shares of Tesla rallied more than 5% Wednesday following the news.</p><p><blockquote>Model 3力压福特野马夺得榜首，特斯拉Model Y也位列榜单第三。消息传出后，特斯拉股价周三上涨超过5%。</blockquote></p><p> The stock gained even more ground Thursday after Musk tweeted the night before that Tesla investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX eventually decides to spin off the satellite internet service in a few years.</p><p><blockquote>马斯克前一天晚上在推特上表示，如果SpaceX最终决定在几年内剥离卫星互联网服务，特斯拉投资者可能会获得购买SpaceX旗下Starlink股票的优惠待遇，该股周四进一步上涨。</blockquote></p><p> So even though Tesla's stock is still in the red this year, shares have quickly clawed back much of their 2021 losses after a more than 12% surge in the past five days.</p><p><blockquote>因此，尽管特斯拉的股价今年仍处于亏损状态，但在过去五天飙升超过12%后，该股已迅速收复了2021年的大部分跌幅。</blockquote></p><p> Tesla is nothing if not volatile.</p><p><blockquote>如果不是不稳定的话，特斯拉什么都不是。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/06/24/investing/tesla-stock-ford-gm/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://edition.cnn.com/2021/06/24/investing/tesla-stock-ford-gm/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116076888","content_text":"New York (CNN Business)Tesla had a stellar 2020: The electric car maker was added to the S&P 500 and the stock surged an electrifying 743%. But some investors have pulled the plug on the company lately.\nTesla (TSLA) shares are nearly 25% below their all-time high set earlier in the year, and down 2% for 2021 to date -— a time when traditional automakers are surging as they ramp up electric vehicle ambitions.\nFord (F) stock is up nearly 75%, putting it in the top 10 of the S&P 500 in 2021. The company unveiled its electric F-150 Lightning truck last month and also told investors that it now expects electric vehicles to account for 40% of global sales by 2030.\nAnd GM (GM) is up more than 40% as well. The Chevrolet, Buick and Cadillac maker said this month that it's looking to spend a whopping $35 billion on EVs by 2025.\nIt seems investors are a bit infatuated with these legacy Big 3 automakers as they look to rapidly expand their electric car offerings to catch up with Tesla.\nTesla is still growing incredibly quickly. Analysts expect earnings per share to more than double this year and increase at an average rate of about 45% annually over the next few years.\nYet Tesla is one of the most polarizing stocks on Wall Street.\nAccording to Refinitiv, 14 analysts have the stock rated a \"buy,\" 13 a \"hold\" and 10 a \"sell.\" Contrast that with GM, which has 20 buy ratings, two holds and no sells.\nSkeptics have many questions about Tesla and Musk\nThe consensus target price for Tesla stock from analysts is $652, about 6% lower than its current price.\nTesla critics have a pile of worries to point to. A notable short seller who was featured in \"The Big Short\" is betting against the company. Concerns about Tesla's management bench sprung up after longtime executive Jerome Guillen abruptly left earlier this month — especially since CEO Elon Musk is also busy running SpaceX.\nAnd Musk's obsession with bitcoin and dogecoin, along with other extracurricular activities like hosting Saturday Night Live and constantly tweeting, might be a turnoff for some investors and analysts.\nStill, there is no denying that the company has plenty of ardent fans, and its vehicles have grabbed plenty of positive headlines this week alone.\nFor example, Cars.com (CARS) announced earlier this week that Tesla's Model 3 was ranked first in its American-Made Index, which measures how much a vehicle contributes to the US economy based on factors such as domestic factory jobs, manufacturing plants and parts sourcing.\nThe Model 3 edged out Ford's Mustang for the top spot, and Tesla's Model Y also ranked third on the list. Shares of Tesla rallied more than 5% Wednesday following the news.\nThe stock gained even more ground Thursday after Musk tweeted the night before that Tesla investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX eventually decides to spin off the satellite internet service in a few years.\nSo even though Tesla's stock is still in the red this year, shares have quickly clawed back much of their 2021 losses after a more than 12% surge in the past five days.\nTesla is nothing if not volatile.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2857,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184334271,"gmtCreate":1623683762993,"gmtModify":1634030092284,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Moving up","listText":"Moving up","text":"Moving up","images":[{"img":"https://static.tigerbbs.com/1ec43f395fc2b9c8fcd41a38c777eaa6","width":"1125","height":"1909"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/184334271","isVote":1,"tweetType":1,"viewCount":418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":184332232,"gmtCreate":1623683697526,"gmtModify":1634030093518,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Good article, helpful insightful&nbsp;","listText":"Good article, helpful insightful&nbsp;","text":"Good article, helpful insightful","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/184332232","repostId":"2143784913","repostType":4,"isVote":1,"tweetType":1,"viewCount":850,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186310128,"gmtCreate":1623472986664,"gmtModify":1634032657240,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Inflation prepAration on the way","listText":"Inflation prepAration on the way","text":"Inflation prepAration on the way","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/186310128","repostId":"1118102755","repostType":4,"repost":{"id":"1118102755","kind":"news","pubTimestamp":1623469189,"share":"https://www.laohu8.com/m/news/1118102755?lang=zh_CN&edition=full","pubTime":"2021-06-12 11:39","market":"us","language":"en","title":"Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118102755","media":"MarketWatch","summary":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank ","content":"<p>  <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>  Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p><p><blockquote><b>迈克尔·布拉什(Michael Brush)就如何在债券收益率上升和央行减少刺激措施时避免犯错误提出了建议。</b>不要被对十多年来最高通胀率的平静反应所迷惑。通胀将保持在足以撼动股市的高位，可能导致高达15%的抛售。你现在需要准备。</blockquote></p><p> The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p><p><blockquote>原因是：持续的高通胀将使10年期国债收益率升至2%，并让美联储在年底前开始缩减刺激措施。两者都会扰乱股市。</blockquote></p><p> The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p><p><blockquote>政府6月10日表示，5月份生活成本飙升，推动通胀率升至5%的13年高点。</blockquote></p><p> What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p><p><blockquote>你该怎么办？可能和你想的正好相反。在我们讨论这个问题之前，我们先来看看从今天到年底之间股市的两个关键事件——债券市场和美联储。</blockquote></p><p> <b>Rising yields</b></p><p><blockquote><b>收益率上升</b></blockquote></p><p> Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p><p><blockquote>还记得今年早些时候，当10年期国债收益率TMUBMUSD10Y, 1.452%升至1.7%左右时，股市是如何恐慌的吗？好吧，期待重演。只会更糟。</blockquote></p><p> “We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p><p><blockquote>凯投宏观(Capital Economics)经济学家弗兰齐斯卡·帕尔马斯(Franziska Palmas)以劳动力市场紧张和工资增长为由表示：“我们怀疑美国的通胀将比投资者目前预期的更加持久。”她的研究小组预计今年年底10年期国债收益率为2.25%，2022年底为2.5%。</blockquote></p><p> That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p><p><blockquote>与目前1.5%的水平相比，这将是一个很大的变化。当利率大幅上升时，股票投资者往往会感到恐慌。</blockquote></p><p> <b>Fed tapering</b></p><p><blockquote><b>美联储缩减规模</b></blockquote></p><p> Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p><p><blockquote>美联储主席鲍威尔淡化了央行缩减购债规模以保持低收益率的必要性。但联邦公开市场委员会（FOMC）12名成员中有一半最近表示，他们准备开始讨论缩减规模。FOMC是美联储制定货币政策的分支机构。</blockquote></p><p> “It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p><p><blockquote>《预测市场》一书的作者兼亚德尼研究主管埃德·亚德尼(Ed Yardeni)表示：“在美联储开始谈论缩减规模之前，鲍威尔越来越难以声称经济需要在实现最大就业方面取得‘实质性的进一步进展’。”鲍威尔多次表示，美联储正在等待经济取得“实质性的进一步进展”，然后再终止刺激措施。</blockquote></p><p> “Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p><p><blockquote>亚德尼预测：“鉴于经济表现，有理由预计他们将在年底前开始缩减规模，几个月后他们将开始提高联邦基金利率。”</blockquote></p><p> He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p><p><blockquote>他认为美联储将在7月会议上宣布开始缩减规模的决定。Tapering是指美联储缩减购债规模。这收紧了货币供应，抑制了经济增长。一旦购买量降至零，美联储就会继续降息。</blockquote></p><p> As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p><p><blockquote>众所周知，缩减规模会导致股市出现“缩减恐慌”，这意味着标普500 SPX指数+0.19%、道琼斯工业平均指数道琼斯指数+0.04%和纳斯达克综合指数+0.35%等指数大幅抛售。</blockquote></p><p> <b>How to prepare</b></p><p><blockquote><b>如何准备</b></blockquote></p><p> When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p><p><blockquote>在考虑如何为债券收益率上升和美联储紧缩政策可能引发的抛售做好准备时，要记住的关键事情是为什么会发生这些事情，以及历史告诉我们股票的表现。</blockquote></p><p> The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p><p><blockquote>人们普遍认为，缩减购债规模和债券收益率上升会扼杀经济增长和股市牛市。但这实际上不是真的。</blockquote></p><p> Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p><p><blockquote>是的，最初，紧缩可能会导致股市下跌——或者充其量是横盘震荡。但随着牛市的持续，股市摆脱了这一局面并走高。这是有道理的，因为紧缩的发生是有帮助企业的充分理由的——强劲的经济增长。这大幅推高了盈利，从而将估值重置为较低——回落到投资者感到满意的水平。</blockquote></p><p> “Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p><p><blockquote>Leuthold市场策略师吉姆·保尔森(Jim Paulsen)表示：“缩减规模是复苏的重要组成部分。”“这是对成功政策和经济反弹的回应。这是牛市的自然组成部分，允许市场走高。这是一种健康的发展。”</blockquote></p><p> Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p><p><blockquote>纵观未来可能出现的所有市场亮点，保尔森认为潜在的经济增长将推动标普500的盈利在年底前达到220美元。假设标普500处于当前水平或略低，这将使该指数的市盈率(P/E)降至18-19——接近或低于1990年以来的平均水平。“这为牛市的下一阶段奠定了基础，”他说。</blockquote></p><p> <b>Your five-point game plan</b></p><p><blockquote><b>你的五点游戏计划</b></blockquote></p><p> <b>1. Do not go to “defensives”</b></p><p><blockquote><b>1.不要去“防御性”</b></blockquote></p><p></p><p> When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p><p><blockquote>当人们看到股市动荡时，下意识的反应是追求公用事业和必需消费品等防御性股票的“稳定性”。但那将是一个错误。当经济放缓或收缩时，你想采取防御措施，而不是当经济强劲时。另一个问题是防御性名称需要支付收益。因此，与债券一样，它们也会受到利率上升的打击，利率上升会使股息以及支付股息的股票和债券贬值。</blockquote></p><p> “The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p><p><blockquote>“保护自己的最佳方式是将您的投资组合与过热的经济挂钩。这是最佳利润增长和利润杠杆的地方，”保尔森说。“防御性药物是不会有这种感觉的。”</blockquote></p><p> <b>2. Go with companies that benefit from growth</b></p><p><blockquote><b>2.与受益于增长的公司同行</b></blockquote></p><p> Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p><p><blockquote>由于快速的经济增长正在导致缩减规模——而且增长通常不会被紧缩扼杀——与增长相关的股票通常是最好的选择。这意味着周期性股票，如工业股、基础材料消费股、小盘股和国际股票。保尔森表示：“消费必需品和公用事业增长放缓将无法跟上市场增长领域的步伐。”</blockquote></p><p> I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p><p><blockquote>我首先建议Lindblad Expeditions LIND，+0.17%和Cardlytics CDLX，+4.54%，并在我的股票信中，在2020年9月和2019年11月重温股票（我网站的链接在下面的简历中）。尽管它们的股价分别上涨了48%和157%，即标普500的两到四倍，但我仍然喜欢并拥有这两家公司。最近的内部买入证实了他们在当前水平附近买入并持有。另外，两者都是循环名称。Cardlytics帮助信用卡公司出于营销目的了解客户购买模式。Lindblad提供专门的异国情调的邮轮冒险。两者都受益于推动更多消费者支出的经济增长。</blockquote></p><p> <b>3. Do not get out of stocks</b></p><p><blockquote><b>3、不脱销库存</b></blockquote></p><p> If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p><p><blockquote>如果您认为抛售即将到来，那么在此之前尝试卖出股票，并在疲软发生后回购股票可能很诱人。但这比你想象的要困难得多。市场资深人士表示，事实上，几乎不可能把握好时机。</blockquote></p><p> “You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p><p><blockquote>“你必须做出两个明智的决定，”亚德尼说。“你必须在修正之前退出，然后你必须决定何时重新加入。我不知道有多少人能始终如一地做到这一点。”</blockquote></p><p> Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p><p><blockquote>市场计时器通常会退出，不会再回来，他们会错过下一轮上涨。“试图避免调整可能会给自己带来麻烦，”保尔森说。</blockquote></p><p> <b>4. Do not own bonds</b></p><p><blockquote><b>4.不持有债券</b></blockquote></p><p> Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p><p><blockquote>到年底，债券收益率将达到2%或更高。因此，不要持有债券，当收益率上升时，债券的价格就会下跌——除非您只是计划持有至到期以收取收入。</blockquote></p><p> <b>5. Go with financials</b></p><p><blockquote><b>5.选择财务</b></blockquote></p><p> Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p><p><blockquote>强劲的经济体通常会使收益率曲线更加向上倾斜，这意味着10年期国债的长期利率上升速度远快于短期利率。由于银行在短端借款，在长端放贷，陡峭的收益率曲线对它们有帮助。</blockquote></p><p> The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</p><p><blockquote>亚德尼指出，强劲的经济还将帮助银行释放准备金并降低贷款损失准备金，这两者都可以提高收益。自从我去年8月在股票信中提出建议以来，摩根大通JPM(-0.07%)和美国银行BAC(+0.41%)的涨幅都是标普500的两倍多。但它们看起来仍然很有吸引力。小型银行中聪明的内部人士最近的买入模式证实，尽管过去几个季度表现强劲，但该行业仍然值得持有。</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>Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</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\">\nDon’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-12 11:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>  Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p><p><blockquote><b>迈克尔·布拉什(Michael Brush)就如何在债券收益率上升和央行减少刺激措施时避免犯错误提出了建议。</b>不要被对十多年来最高通胀率的平静反应所迷惑。通胀将保持在足以撼动股市的高位，可能导致高达15%的抛售。你现在需要准备。</blockquote></p><p> The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p><p><blockquote>原因是：持续的高通胀将使10年期国债收益率升至2%，并让美联储在年底前开始缩减刺激措施。两者都会扰乱股市。</blockquote></p><p> The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p><p><blockquote>政府6月10日表示，5月份生活成本飙升，推动通胀率升至5%的13年高点。</blockquote></p><p> What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p><p><blockquote>你该怎么办？可能和你想的正好相反。在我们讨论这个问题之前，我们先来看看从今天到年底之间股市的两个关键事件——债券市场和美联储。</blockquote></p><p> <b>Rising yields</b></p><p><blockquote><b>收益率上升</b></blockquote></p><p> Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p><p><blockquote>还记得今年早些时候，当10年期国债收益率TMUBMUSD10Y, 1.452%升至1.7%左右时，股市是如何恐慌的吗？好吧，期待重演。只会更糟。</blockquote></p><p> “We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p><p><blockquote>凯投宏观(Capital Economics)经济学家弗兰齐斯卡·帕尔马斯(Franziska Palmas)以劳动力市场紧张和工资增长为由表示：“我们怀疑美国的通胀将比投资者目前预期的更加持久。”她的研究小组预计今年年底10年期国债收益率为2.25%，2022年底为2.5%。</blockquote></p><p> That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p><p><blockquote>与目前1.5%的水平相比，这将是一个很大的变化。当利率大幅上升时，股票投资者往往会感到恐慌。</blockquote></p><p> <b>Fed tapering</b></p><p><blockquote><b>美联储缩减规模</b></blockquote></p><p> Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p><p><blockquote>美联储主席鲍威尔淡化了央行缩减购债规模以保持低收益率的必要性。但联邦公开市场委员会（FOMC）12名成员中有一半最近表示，他们准备开始讨论缩减规模。FOMC是美联储制定货币政策的分支机构。</blockquote></p><p> “It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p><p><blockquote>《预测市场》一书的作者兼亚德尼研究主管埃德·亚德尼(Ed Yardeni)表示：“在美联储开始谈论缩减规模之前，鲍威尔越来越难以声称经济需要在实现最大就业方面取得‘实质性的进一步进展’。”鲍威尔多次表示，美联储正在等待经济取得“实质性的进一步进展”，然后再终止刺激措施。</blockquote></p><p> “Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p><p><blockquote>亚德尼预测：“鉴于经济表现，有理由预计他们将在年底前开始缩减规模，几个月后他们将开始提高联邦基金利率。”</blockquote></p><p> He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p><p><blockquote>他认为美联储将在7月会议上宣布开始缩减规模的决定。Tapering是指美联储缩减购债规模。这收紧了货币供应，抑制了经济增长。一旦购买量降至零，美联储就会继续降息。</blockquote></p><p> As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p><p><blockquote>众所周知，缩减规模会导致股市出现“缩减恐慌”，这意味着标普500 SPX指数+0.19%、道琼斯工业平均指数道琼斯指数+0.04%和纳斯达克综合指数+0.35%等指数大幅抛售。</blockquote></p><p> <b>How to prepare</b></p><p><blockquote><b>如何准备</b></blockquote></p><p> When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p><p><blockquote>在考虑如何为债券收益率上升和美联储紧缩政策可能引发的抛售做好准备时，要记住的关键事情是为什么会发生这些事情，以及历史告诉我们股票的表现。</blockquote></p><p> The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p><p><blockquote>人们普遍认为，缩减购债规模和债券收益率上升会扼杀经济增长和股市牛市。但这实际上不是真的。</blockquote></p><p> Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p><p><blockquote>是的，最初，紧缩可能会导致股市下跌——或者充其量是横盘震荡。但随着牛市的持续，股市摆脱了这一局面并走高。这是有道理的，因为紧缩的发生是有帮助企业的充分理由的——强劲的经济增长。这大幅推高了盈利，从而将估值重置为较低——回落到投资者感到满意的水平。</blockquote></p><p> “Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p><p><blockquote>Leuthold市场策略师吉姆·保尔森(Jim Paulsen)表示：“缩减规模是复苏的重要组成部分。”“这是对成功政策和经济反弹的回应。这是牛市的自然组成部分，允许市场走高。这是一种健康的发展。”</blockquote></p><p> Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p><p><blockquote>纵观未来可能出现的所有市场亮点，保尔森认为潜在的经济增长将推动标普500的盈利在年底前达到220美元。假设标普500处于当前水平或略低，这将使该指数的市盈率(P/E)降至18-19——接近或低于1990年以来的平均水平。“这为牛市的下一阶段奠定了基础，”他说。</blockquote></p><p> <b>Your five-point game plan</b></p><p><blockquote><b>你的五点游戏计划</b></blockquote></p><p> <b>1. Do not go to “defensives”</b></p><p><blockquote><b>1.不要去“防御性”</b></blockquote></p><p></p><p> When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p><p><blockquote>当人们看到股市动荡时，下意识的反应是追求公用事业和必需消费品等防御性股票的“稳定性”。但那将是一个错误。当经济放缓或收缩时，你想采取防御措施，而不是当经济强劲时。另一个问题是防御性名称需要支付收益。因此，与债券一样，它们也会受到利率上升的打击，利率上升会使股息以及支付股息的股票和债券贬值。</blockquote></p><p> “The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p><p><blockquote>“保护自己的最佳方式是将您的投资组合与过热的经济挂钩。这是最佳利润增长和利润杠杆的地方，”保尔森说。“防御性药物是不会有这种感觉的。”</blockquote></p><p> <b>2. Go with companies that benefit from growth</b></p><p><blockquote><b>2.与受益于增长的公司同行</b></blockquote></p><p> Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p><p><blockquote>由于快速的经济增长正在导致缩减规模——而且增长通常不会被紧缩扼杀——与增长相关的股票通常是最好的选择。这意味着周期性股票，如工业股、基础材料消费股、小盘股和国际股票。保尔森表示：“消费必需品和公用事业增长放缓将无法跟上市场增长领域的步伐。”</blockquote></p><p> I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p><p><blockquote>我首先建议Lindblad Expeditions LIND，+0.17%和Cardlytics CDLX，+4.54%，并在我的股票信中，在2020年9月和2019年11月重温股票（我网站的链接在下面的简历中）。尽管它们的股价分别上涨了48%和157%，即标普500的两到四倍，但我仍然喜欢并拥有这两家公司。最近的内部买入证实了他们在当前水平附近买入并持有。另外，两者都是循环名称。Cardlytics帮助信用卡公司出于营销目的了解客户购买模式。Lindblad提供专门的异国情调的邮轮冒险。两者都受益于推动更多消费者支出的经济增长。</blockquote></p><p> <b>3. Do not get out of stocks</b></p><p><blockquote><b>3、不脱销库存</b></blockquote></p><p> If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p><p><blockquote>如果您认为抛售即将到来，那么在此之前尝试卖出股票，并在疲软发生后回购股票可能很诱人。但这比你想象的要困难得多。市场资深人士表示，事实上，几乎不可能把握好时机。</blockquote></p><p> “You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p><p><blockquote>“你必须做出两个明智的决定，”亚德尼说。“你必须在修正之前退出，然后你必须决定何时重新加入。我不知道有多少人能始终如一地做到这一点。”</blockquote></p><p> Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p><p><blockquote>市场计时器通常会退出，不会再回来，他们会错过下一轮上涨。“试图避免调整可能会给自己带来麻烦，”保尔森说。</blockquote></p><p> <b>4. Do not own bonds</b></p><p><blockquote><b>4.不持有债券</b></blockquote></p><p> Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p><p><blockquote>到年底，债券收益率将达到2%或更高。因此，不要持有债券，当收益率上升时，债券的价格就会下跌——除非您只是计划持有至到期以收取收入。</blockquote></p><p> <b>5. Go with financials</b></p><p><blockquote><b>5.选择财务</b></blockquote></p><p> Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p><p><blockquote>强劲的经济体通常会使收益率曲线更加向上倾斜，这意味着10年期国债的长期利率上升速度远快于短期利率。由于银行在短端借款，在长端放贷，陡峭的收益率曲线对它们有帮助。</blockquote></p><p> The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</p><p><blockquote>亚德尼指出，强劲的经济还将帮助银行释放准备金并降低贷款损失准备金，这两者都可以提高收益。自从我去年8月在股票信中提出建议以来，摩根大通JPM(-0.07%)和美国银行BAC(+0.41%)的涨幅都是标普500的两倍多。但它们看起来仍然很有吸引力。小型银行中聪明的内部人士最近的买入模式证实，尽管过去几个季度表现强劲，但该行业仍然值得持有。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118102755","content_text":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.\n\nDon’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.\nThe reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.\nThe government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.\nWhat should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.\nRising yields\nRemember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452% moved up to around 1.7%? Well, expect a repeat. Only worse.\n“We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.\nThat’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.\nFed tapering\nFed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee (FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.\n“It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.\n“Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.\nHe thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.\nAs we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&P 500 SPX,+0.19%, the Dow Jones Industrial Average DJIA,+0.04% and Nasdaq COMP,+0.35%.\nHow to prepare\nWhen considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.\nThe consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.\nYes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.\n“Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”\nLooking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&P 500 earnings up to $220 by the end of the year. Assuming the S&P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.\nYour five-point game plan\n1. Do not go to “defensives”\nWhen people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.\n“The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”\n2. Go with companies that benefit from growth\nSince rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.\nI first suggested Lindblad Expeditions LIND,+0.17% and Cardlytics CDLX,+4.54% and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.\n3. Do not get out of stocks\nIf you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.\n“You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”\nMarket timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.\n4. Do not own bonds\nBond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.\n5. Go with financials\nStrong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.\nThe strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07% and Bank of America BAC,+0.41% are up over twice as much as the S&P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":474,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181686824,"gmtCreate":1623390261368,"gmtModify":1634033842996,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Will go up to $3 or not?","listText":"Will go up to $3 or not?","text":"Will go up to $3 or not?","images":[{"img":"https://static.tigerbbs.com/a08c23c3d5a459c3d3a780759a237996","width":"1125","height":"1909"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/181686824","isVote":1,"tweetType":1,"viewCount":417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":181683769,"gmtCreate":1623390078251,"gmtModify":1634033844709,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Buy Tesla!!&nbsp;","listText":"Buy Tesla!!&nbsp;","text":"Buy Tesla!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/181683769","repostId":"1152710205","repostType":4,"isVote":1,"tweetType":1,"viewCount":477,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181617517,"gmtCreate":1623389885339,"gmtModify":1634033847250,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"$185/ton. Oh no... Will&nbsp;buy electric car, if got more&nbsp;charging points in vicinity&nbsp;","listText":"$185/ton. Oh no... Will&nbsp;buy electric car, if got more&nbsp;charging points in vicinity&nbsp;","text":"$185/ton. Oh no... Will buy electric car, if got more charging points in vicinity","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181617517","repostId":"2142279140","repostType":4,"isVote":1,"tweetType":1,"viewCount":660,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180584679,"gmtCreate":1623212639491,"gmtModify":1631884666605,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"China can help","listText":"China can help","text":"China can help","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/180584679","repostId":"2142299762","repostType":4,"isVote":1,"tweetType":1,"viewCount":738,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180514500,"gmtCreate":1623212159000,"gmtModify":1634035741679,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Missed when price is 255[Facepalm]&nbsp;","listText":"Missed when price is 255[Facepalm]&nbsp;","text":"Missed when price is 255[Facepalm]","images":[{"img":"https://static.tigerbbs.com/81b2d08115e767c081b8b4dafbf12262","width":"1125","height":"2523"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/180514500","isVote":1,"tweetType":1,"viewCount":763,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":117569813,"gmtCreate":1623151662732,"gmtModify":1634036426259,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"A great product! An apple a day!","listText":"A great product! An apple a day!","text":"A great product! An apple a day!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/117569813","repostId":"1191020585","repostType":4,"isVote":1,"tweetType":1,"viewCount":554,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117587137,"gmtCreate":1623151498129,"gmtModify":1634036427517,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Apple I like&nbsp;","listText":"Apple I like&nbsp;","text":"Apple I like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/117587137","repostId":"1191020585","repostType":4,"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":118982963,"gmtCreate":1622713126752,"gmtModify":1634098876638,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Hindsight is 2020","listText":"Hindsight is 2020","text":"Hindsight is 2020","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":10,"repostSize":0,"link":"https://laohu8.com/post/118982963","repostId":"1128542350","repostType":4,"repost":{"id":"1128542350","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":1622710475,"share":"https://www.laohu8.com/m/news/1128542350?lang=zh_CN&edition=full","pubTime":"2021-06-03 16:54","market":"us","language":"en","title":"Here's Why Sundial Growers, Tilray, and Other Cannabis Stocks Soared Today<blockquote>这就是Sundial Growers、Tilray和其他大麻股票今天飙升的原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128542350","media":"Tiger Newspress","summary":"Major employers are signaling their growing support of marijuana reform.","content":"<p>Major employers are signaling their growing support of marijuana reform.</p><p><blockquote>主要雇主表示越来越支持大麻改革。</blockquote></p><p><b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p>Cannabis companies received a boost after&nbsp;<b>Amazon</b>&nbsp;said it would support federal marijuana legalization efforts.<b>Sundial Growers,Tilray,Canopy Growth,Aurora Cannabis</b>&nbsp;and&nbsp;<b>Cronos&nbsp;</b>rose between 2% and 25%&nbsp;in premarket trading., respectively, on the news.</p><p><blockquote>大麻公司受到提振<b>亚马逊</b>表示将支持联邦大麻合法化的努力。<b>日晷种植者、Tilray、树冠生长、极光大麻</b>和<b>克罗诺斯</b>盘前交易中上涨2%至25%。，分别在新闻上。</blockquote></p><p><img src=\"https://static.tigerbbs.com/5ea74b81647fb2efe6bfb94092464ec7\" tg-width=\"378\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p>Amazon executive Dave Clark said in a blog post that the e-commerce giant would support the Marijuana Opportunity Reinvestment and Expungement Act of 2021, or the MORE Act. This legislation seeks to decriminalizemarijuanaat the federal level and expunge cannabis-related criminal records. Amazon also called for other businesses to support the bill.</p><p><blockquote>亚马逊高管戴夫·克拉克在一篇博客文章中表示，这家电子商务巨头将支持2021年大麻机会再投资和驱逐法案，即MORE法案。这项立法旨在在联邦层面将大麻合法化，并删除与大麻相关的犯罪记录。亚马逊还呼吁其他企业支持该法案。</blockquote></p><p>\"We hope that other employers will join us, and that policymakers will act swiftly to pass this law,\" Clark said.</p><p><blockquote>克拉克说：“我们希望其他雇主能够加入我们，政策制定者能够迅速采取行动通过这项法律。”</blockquote></p><p>Additionally, Amazon will no longer screen its employees for marijuana use, except for when it's required to do so by the Department of Transportation.</p><p><blockquote>此外，亚马逊将不再筛查其员工是否使用大麻，除非交通部要求这样做。</blockquote></p><p>\"In the past, like many employers, we've disqualified people from working at Amazon if they tested positive for marijuana use,\" Clark said. \"However, given where state laws are moving across the U.S., we've changed course.\"</p><p><blockquote>克拉克说：“过去，像许多雇主一样，如果大麻使用检测呈阳性的人，我们会取消他们在亚马逊工作的资格。”“然而，考虑到美国各州法律的发展方向，我们已经改变了方针。”</blockquote></p><p><b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p>The news helped to drive the prices of many pot stocks higher on Wednesday. Investors are betting that cannabis reform could make it easier for marijuana producers to conduct business, as well as boost demand from recreational consumers.</p><p><blockquote>这一消息帮助推动许多大麻股的价格在周三走高。投资者押注大麻改革可以让大麻生产商更容易开展业务，并提振休闲消费者的需求。</blockquote></p><p>Tilray and Sundial Growers are among those that stand to benefit. Tilray recently completed its merger with Aphria, which made it one of the industry's largest companies by revenue. Sundial, meanwhile, has raised hundreds of millions of dollars via stock offerings, which it has begun to deploy in an array of cannabis-focused investments.</p><p><blockquote>Tilray和Sundial种植者将从中受益。Tilray最近完成了与Aphria的合并，使其成为业内收入最大的公司之一。与此同时，Sundial已通过股票发行筹集了数亿美元，并已开始将其用于一系列以大麻为重点的投资。</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>Here's Why Sundial Growers, Tilray, and Other Cannabis Stocks Soared Today<blockquote>这就是Sundial Growers、Tilray和其他大麻股票今天飙升的原因</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\">\nHere's Why Sundial Growers, Tilray, and Other Cannabis Stocks Soared Today<blockquote>这就是Sundial Growers、Tilray和其他大麻股票今天飙升的原因</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\">2021-06-03 16:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Major employers are signaling their growing support of marijuana reform.</p><p><blockquote>主要雇主表示越来越支持大麻改革。</blockquote></p><p><b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p>Cannabis companies received a boost after&nbsp;<b>Amazon</b>&nbsp;said it would support federal marijuana legalization efforts.<b>Sundial Growers,Tilray,Canopy Growth,Aurora Cannabis</b>&nbsp;and&nbsp;<b>Cronos&nbsp;</b>rose between 2% and 25%&nbsp;in premarket trading., respectively, on the news.</p><p><blockquote>大麻公司受到提振<b>亚马逊</b>表示将支持联邦大麻合法化的努力。<b>日晷种植者、Tilray、树冠生长、极光大麻</b>和<b>克罗诺斯</b>盘前交易中上涨2%至25%。，分别在新闻上。</blockquote></p><p><img src=\"https://static.tigerbbs.com/5ea74b81647fb2efe6bfb94092464ec7\" tg-width=\"378\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p>Amazon executive Dave Clark said in a blog post that the e-commerce giant would support the Marijuana Opportunity Reinvestment and Expungement Act of 2021, or the MORE Act. This legislation seeks to decriminalizemarijuanaat the federal level and expunge cannabis-related criminal records. Amazon also called for other businesses to support the bill.</p><p><blockquote>亚马逊高管戴夫·克拉克在一篇博客文章中表示，这家电子商务巨头将支持2021年大麻机会再投资和驱逐法案，即MORE法案。这项立法旨在在联邦层面将大麻合法化，并删除与大麻相关的犯罪记录。亚马逊还呼吁其他企业支持该法案。</blockquote></p><p>\"We hope that other employers will join us, and that policymakers will act swiftly to pass this law,\" Clark said.</p><p><blockquote>克拉克说：“我们希望其他雇主能够加入我们，政策制定者能够迅速采取行动通过这项法律。”</blockquote></p><p>Additionally, Amazon will no longer screen its employees for marijuana use, except for when it's required to do so by the Department of Transportation.</p><p><blockquote>此外，亚马逊将不再筛查其员工是否使用大麻，除非交通部要求这样做。</blockquote></p><p>\"In the past, like many employers, we've disqualified people from working at Amazon if they tested positive for marijuana use,\" Clark said. \"However, given where state laws are moving across the U.S., we've changed course.\"</p><p><blockquote>克拉克说：“过去，像许多雇主一样，如果大麻使用检测呈阳性的人，我们会取消他们在亚马逊工作的资格。”“然而，考虑到美国各州法律的发展方向，我们已经改变了方针。”</blockquote></p><p><b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p>The news helped to drive the prices of many pot stocks higher on Wednesday. Investors are betting that cannabis reform could make it easier for marijuana producers to conduct business, as well as boost demand from recreational consumers.</p><p><blockquote>这一消息帮助推动许多大麻股的价格在周三走高。投资者押注大麻改革可以让大麻生产商更容易开展业务，并提振休闲消费者的需求。</blockquote></p><p>Tilray and Sundial Growers are among those that stand to benefit. Tilray recently completed its merger with Aphria, which made it one of the industry's largest companies by revenue. Sundial, meanwhile, has raised hundreds of millions of dollars via stock offerings, which it has begun to deploy in an array of cannabis-focused investments.</p><p><blockquote>Tilray和Sundial种植者将从中受益。Tilray最近完成了与Aphria的合并，使其成为业内收入最大的公司之一。与此同时，Sundial已通过股票发行筹集了数亿美元，并已开始将其用于一系列以大麻为重点的投资。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","CRON":"Cronos Group Inc.","TLRY":"Tilray Inc.","MJ":"Amplify Alternative Harvest ETF","ACB":"奥罗拉大麻公司","CGC":"Canopy Growth Corporation","SNDL":"SNDL Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128542350","content_text":"Major employers are signaling their growing support of marijuana reform.What happenedCannabis companies received a boost after Amazon said it would support federal marijuana legalization efforts.Sundial Growers,Tilray,Canopy Growth,Aurora Cannabis and Cronos rose between 2% and 25% in premarket trading., respectively, on the news.So whatAmazon executive Dave Clark said in a blog post that the e-commerce giant would support the Marijuana Opportunity Reinvestment and Expungement Act of 2021, or the MORE Act. This legislation seeks to decriminalizemarijuanaat the federal level and expunge cannabis-related criminal records. Amazon also called for other businesses to support the bill.\"We hope that other employers will join us, and that policymakers will act swiftly to pass this law,\" Clark said.Additionally, Amazon will no longer screen its employees for marijuana use, except for when it's required to do so by the Department of Transportation.\"In the past, like many employers, we've disqualified people from working at Amazon if they tested positive for marijuana use,\" Clark said. \"However, given where state laws are moving across the U.S., we've changed course.\"Now whatThe news helped to drive the prices of many pot stocks higher on Wednesday. Investors are betting that cannabis reform could make it easier for marijuana producers to conduct business, as well as boost demand from recreational consumers.Tilray and Sundial Growers are among those that stand to benefit. Tilray recently completed its merger with Aphria, which made it one of the industry's largest companies by revenue. Sundial, meanwhile, has raised hundreds of millions of dollars via stock offerings, which it has begun to deploy in an array of cannabis-focused investments.","news_type":1,"symbols_score_info":{"CRON":0.9,"AMZN":0.9,"ACB":0.9,"SNDL":0.9,"CGC":0.9,"MJ":0.9,"TLRY":0.9}},"isVote":1,"tweetType":1,"viewCount":513,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899136250,"gmtCreate":1628167803470,"gmtModify":1631888805008,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Alibaba ear temp monitoring device use in Olympic&nbsp;","listText":"Alibaba ear temp monitoring device use in Olympic&nbsp;","text":"Alibaba ear temp monitoring device use in Olympic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/899136250","repostId":"2157943956","repostType":4,"isVote":1,"tweetType":1,"viewCount":2958,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831839143,"gmtCreate":1629298803182,"gmtModify":1631888804981,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Fabulous","listText":"Fabulous","text":"Fabulous","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/831839143","repostId":"1173987909","repostType":4,"repost":{"id":"1173987909","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":1629297237,"share":"https://www.laohu8.com/m/news/1173987909?lang=zh_CN&edition=full","pubTime":"2021-08-18 22:33","market":"hk","language":"en","title":"The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173987909","media":"Tiger Newspress","summary":"According to the latest policy directives issued in China, “The Tertiary Distribution” is about to b","content":"<p>According to the latest policy directives issued in China, “The Tertiary&nbsp;Distribution” is about to be put into effect. Citing various sources, the so-called “The Tertiary Distribution” refers to the further adjustment of social income distribution through social entities’ (enterprises and individuals) voluntary, charitable donations, which is in the stage of micro-adjustment. In the meantime, the policy also clearly instructs that the country should encourage high-income groups and enterprises to give back to society to a greater extent.</p><p><blockquote>根据中国最新发布的政策指示，“三次分配”即将落地。援引多方消息称，所谓“三次分配”，是指通过社会主体（企业和个人）自愿、慈善捐赠，进一步调节社会收入分配，处于微观调节阶段。其间，政策还明确指示，国家要鼓励高收入群体和企业更大程度地回馈社会。</blockquote></p><p> There are many high-income groups, including celebrities and real estate speculators. And, high-income companies, in terms of financial reports, include leading Internet companies, China’s top five banks, and other state-owned enterprises. Here, we will discuss what Internet companies should do in “The&nbsp;Tertiary Distribution.”</p><p><blockquote>高收入群体很多，有名人，也有炒房客。并且，高收入公司，就财报而言，包括领先的互联网公司、中国五大银行和其他国有企业。在这里，我们将讨论互联网公司在“三次分配”中应该做些什么。</blockquote></p><p> From the view of current beneficial donations, Internet companies have played an increasingly important role. Let’s take the flood disaster that recently occurred in Henan as an example. <a href=\"https://laohu8.com/S/00700\">TENCENT</a> donated 100 million yuan, <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> donated 100 million yuan, and Xiaomi donated 50 million yuan... But there are problems with the current way of donating by Internet companies.</p><p><blockquote>从目前的受益捐赠来看，互联网企业已经发挥了越来越重要的作用。我们以河南近期发生的洪涝灾害为例。<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>捐赠1亿元，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>捐了1亿元，小米捐了5000万……但目前互联网公司的捐赠方式存在问题。</blockquote></p><p> <b>1. The burden born by Internet companies is heavy.</b> Although the leading Internet companies have made plenty of profits, many companies are not profitable or even in the red. After the flood disaster of Henan province, Pinduoduo, the largest agriculture-focused technology platform in China, also announced a donation of 100 million yuan. It should be noted that the company is at a loss. The large-scale donation will also deliver an illusion to society: These companies are capable of donating more money.</p><p><blockquote><b>1、互联网企业背负的包袱很重。</b>虽然互联网龙头企业利润丰厚，但也有不少企业不盈利甚至亏损。河南省洪涝灾害发生后，国内最大的以农业为主的科技平台拼多多也宣布捐赠1亿元。需要注意的是，公司处于亏损状态。大规模的捐赠也会给社会传递一种错觉：这些公司有能力捐出更多的钱。</blockquote></p><p> <b>2. There is a phenomenon of unrealistic comparison among Internet companies.</b> The beneficial donations conducted by Internet corporates have entered the stage of comparison, which is related to Chinese cultural traditions. The donation amount of BAT (<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, Alibaba, and Tencent) is in one echelon, while that of <a href=\"https://laohu8.com/S/01810\">XIAOMI-W</a> and OmniVision is in another echelon. The comparison on donation amount makes companies complain, and it also makes the public feel that Internet companies are flaunting the considerable wealth.</p><p><blockquote><b>2、互联网企业之间存在不切实际的攀比现象。</b>互联网企业进行的有益捐赠进入攀比阶段，这与中国文化传统有关。英美烟草的捐赠金额（<a href=\"https://laohu8.com/S/BIDU\">百度</a>、阿里巴巴-SW和腾讯控股）处于同一梯队，而<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>而豪威则处于另一个梯队。捐赠金额上的对比让企业叫苦不迭，也让公众觉得互联网企业在炫耀可观的财富。</blockquote></p><p> <b>3. Public beneficial donations are not sustainable.</b> Tencent donated 100 million yuan to help people in Henan fight the natural calamity. What should Tencent do if there is another city suffering from disaster? How much should Tencent donate if there are more natural calamities? Global warming will give rise to more and more disasters. Therefore, the immoderate, planless donations will become a big unknown for the future operation of these enterprises.</p><p><blockquote><b>3.公益性捐赠不可持续。</b>腾讯控股捐赠1亿元帮助河南省人民抗击自然灾害。如果再有一个城市遭受灾难，腾讯控股该怎么办？如果有更多的自然灾害，腾讯控股应该捐多少？全球变暖将导致越来越多的灾难。因此，无节制的、无计划的捐款将成为这些企业未来经营的一大未知数。</blockquote></p><p> The United States is the country that has done the best in public welfare. As a leading conglomerate in the United States, how does <a href=\"https://laohu8.com/S/AAPL\">Apple</a> deal with “The Tertiary Distributions?”</p><p><blockquote>美国是在公益方面做得最好的国家。作为美国领先的企业集团，如何<a href=\"https://laohu8.com/S/AAPL\">苹果</a>处理“三级分布？”</blockquote></p><p> Apple has partly disclosed the information on its charitable donations. According to the disclosure, charitable donations completed by Apple can be divided into three parts: <b>a. Employee Giving Program; b. Community Investment Team; c. Grant Program</b>.</p><p><blockquote>苹果已经部分披露了其慈善捐款的信息。根据披露，苹果完成的慈善捐赠可以分为三个部分：<b>a.员工捐赠计划；b.社区投资团队；c.赠款计划</b>.</blockquote></p><p> The second public welfare plan, namely “Community Investment Team,” is for NGOs across the globe. Since the amount has not been disclosed, it is estimated that the amount of donation is not much. The third plan “Grant Program” is for the locations of Apple/groups, with an annual quota of $1 million. Only the first plan is the focus of Apple’s philanthropy.</p><p><blockquote>第二个公益计划，即“社区投资团队”，面向全球的非政府组织。由于未公开金额，估计捐款金额不多。第三个计划“赠款计划”面向苹果/团体所在地，每年额度为100万美元。只有第一个计划是苹果慈善事业的重点。</blockquote></p><p> Apple’s Employee Giving Program is based on employee donations, and the company conducts a match rate of 1:1. Beyond that, Apple will also match the time spent by employees in public welfare activities at $25 per hour. Since the implementation of the project in 2011, more than $600 million has been donated by the company and its employees, benefiting 34,000 organizations worldwide, and employees have together contributed 1.6 million hours of work.</p><p><blockquote>苹果的员工捐赠计划以员工捐赠为基础，公司进行1：1的匹配比例。除此之外，苹果还将为员工在公益活动中花费的时间按每小时25美元进行匹配。自2011年项目实施以来，该公司及其员工已捐赠超过6亿美元，惠及全球34,000个组织，员工共同贡献了160万小时的工作。</blockquote></p><p> The advantages are listed as follows:</p><p><blockquote>优点列举如下：</blockquote></p><p> <b>1. The company can be better protected. </b>The company’s move of placing employees on the front line of public welfare undertakings can arouse the enthusiasm of employees and also hide the company behind them. Apple will never get caught up in public opinions like “Why don’t Apple donate as much as <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</p><p><blockquote><b>1、公司可以得到更好的保护。</b>公司将员工放在公益事业第一线的举动，可以调动员工的积极性，也可以将公司隐藏在背后。苹果永远不会陷入像“为什么苹果不捐那么多钱<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</blockquote></p><p></p><p> <b>2. Tax avoidance is best realized.</b> Donations made by enterprises to public welfare undertakings will always be suspected of tax avoidance and will also be questioned by the public. However, if the donation amount of an enterprise is matched by that of employees, the company’s expenditure can be figured in the employee’s expense item (salary) in the company’s financial report, which reduces the tax base.</p><p><blockquote><b>2.避税最好实现。</b>企业对公益事业的捐款总会有避税的嫌疑，也会受到公众的质疑。但是，如果企业的捐赠金额与员工的捐赠金额相匹配，公司的支出可以在公司财报中员工的费用项目（工资）中计算，这样就减少了税基。</blockquote></p><p> <b>3. The scope of charity is wider.</b> Apple has a large number of employees spreading widely around the world. The charity projects they seek on their own are far more than those concerned by the media. Apple’s philanthropy spreads to all corners of society, which will be pretty good for the overall image of Apple. Compared with the recently happened disaster in Henan province which attracted countless donations, there are more other public welfare undertakings that have not been reported by media and paid attention to by both individuals and companies. If employees of Tencent, Alibaba, and Xiaomi can be mobilized to explore more public welfare projects, the inclusive work for society will be much better.</p><p><blockquote><b>3.慈善的范围更广。</b>苹果拥有大量员工，广泛分布在世界各地。他们自己寻求的慈善项目远不止媒体关注的那些。苹果的慈善事业普及到社会各个角落，对苹果的整体形象会是相当不错的。与最近发生在河南省的灾难吸引了无数的捐款相比，还有更多的其他公益事业没有被媒体报道，也没有被个人和公司所关注。如果能发动腾讯控股、阿里巴巴-SW、小米的员工去探索更多的公益项目，对社会的普惠工作会好很多。</blockquote></p><p> To my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”</p><p><blockquote>在我看来，中国互联网企业应该借鉴苹果的经验，切实迎接“三次发行”。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-18 22:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>According to the latest policy directives issued in China, “The Tertiary&nbsp;Distribution” is about to be put into effect. Citing various sources, the so-called “The Tertiary Distribution” refers to the further adjustment of social income distribution through social entities’ (enterprises and individuals) voluntary, charitable donations, which is in the stage of micro-adjustment. In the meantime, the policy also clearly instructs that the country should encourage high-income groups and enterprises to give back to society to a greater extent.</p><p><blockquote>根据中国最新发布的政策指示，“三次分配”即将落地。援引多方消息称，所谓“三次分配”，是指通过社会主体（企业和个人）自愿、慈善捐赠，进一步调节社会收入分配，处于微观调节阶段。其间，政策还明确指示，国家要鼓励高收入群体和企业更大程度地回馈社会。</blockquote></p><p> There are many high-income groups, including celebrities and real estate speculators. And, high-income companies, in terms of financial reports, include leading Internet companies, China’s top five banks, and other state-owned enterprises. Here, we will discuss what Internet companies should do in “The&nbsp;Tertiary Distribution.”</p><p><blockquote>高收入群体很多，有名人，也有炒房客。并且，高收入公司，就财报而言，包括领先的互联网公司、中国五大银行和其他国有企业。在这里，我们将讨论互联网公司在“三次分配”中应该做些什么。</blockquote></p><p> From the view of current beneficial donations, Internet companies have played an increasingly important role. Let’s take the flood disaster that recently occurred in Henan as an example. <a href=\"https://laohu8.com/S/00700\">TENCENT</a> donated 100 million yuan, <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> donated 100 million yuan, and Xiaomi donated 50 million yuan... But there are problems with the current way of donating by Internet companies.</p><p><blockquote>从目前的受益捐赠来看，互联网企业已经发挥了越来越重要的作用。我们以河南近期发生的洪涝灾害为例。<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>捐赠1亿元，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>捐了1亿元，小米捐了5000万……但目前互联网公司的捐赠方式存在问题。</blockquote></p><p> <b>1. The burden born by Internet companies is heavy.</b> Although the leading Internet companies have made plenty of profits, many companies are not profitable or even in the red. After the flood disaster of Henan province, Pinduoduo, the largest agriculture-focused technology platform in China, also announced a donation of 100 million yuan. It should be noted that the company is at a loss. The large-scale donation will also deliver an illusion to society: These companies are capable of donating more money.</p><p><blockquote><b>1、互联网企业背负的包袱很重。</b>虽然互联网龙头企业利润丰厚，但也有不少企业不盈利甚至亏损。河南省洪涝灾害发生后，国内最大的以农业为主的科技平台拼多多也宣布捐赠1亿元。需要注意的是，公司处于亏损状态。大规模的捐赠也会给社会传递一种错觉：这些公司有能力捐出更多的钱。</blockquote></p><p> <b>2. There is a phenomenon of unrealistic comparison among Internet companies.</b> The beneficial donations conducted by Internet corporates have entered the stage of comparison, which is related to Chinese cultural traditions. The donation amount of BAT (<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, Alibaba, and Tencent) is in one echelon, while that of <a href=\"https://laohu8.com/S/01810\">XIAOMI-W</a> and OmniVision is in another echelon. The comparison on donation amount makes companies complain, and it also makes the public feel that Internet companies are flaunting the considerable wealth.</p><p><blockquote><b>2、互联网企业之间存在不切实际的攀比现象。</b>互联网企业进行的有益捐赠进入攀比阶段，这与中国文化传统有关。英美烟草的捐赠金额（<a href=\"https://laohu8.com/S/BIDU\">百度</a>、阿里巴巴-SW和腾讯控股）处于同一梯队，而<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>而豪威则处于另一个梯队。捐赠金额上的对比让企业叫苦不迭，也让公众觉得互联网企业在炫耀可观的财富。</blockquote></p><p> <b>3. Public beneficial donations are not sustainable.</b> Tencent donated 100 million yuan to help people in Henan fight the natural calamity. What should Tencent do if there is another city suffering from disaster? How much should Tencent donate if there are more natural calamities? Global warming will give rise to more and more disasters. Therefore, the immoderate, planless donations will become a big unknown for the future operation of these enterprises.</p><p><blockquote><b>3.公益性捐赠不可持续。</b>腾讯控股捐赠1亿元帮助河南省人民抗击自然灾害。如果再有一个城市遭受灾难，腾讯控股该怎么办？如果有更多的自然灾害，腾讯控股应该捐多少？全球变暖将导致越来越多的灾难。因此，无节制的、无计划的捐款将成为这些企业未来经营的一大未知数。</blockquote></p><p> The United States is the country that has done the best in public welfare. As a leading conglomerate in the United States, how does <a href=\"https://laohu8.com/S/AAPL\">Apple</a> deal with “The Tertiary Distributions?”</p><p><blockquote>美国是在公益方面做得最好的国家。作为美国领先的企业集团，如何<a href=\"https://laohu8.com/S/AAPL\">苹果</a>处理“三级分布？”</blockquote></p><p> Apple has partly disclosed the information on its charitable donations. According to the disclosure, charitable donations completed by Apple can be divided into three parts: <b>a. Employee Giving Program; b. Community Investment Team; c. Grant Program</b>.</p><p><blockquote>苹果已经部分披露了其慈善捐款的信息。根据披露，苹果完成的慈善捐赠可以分为三个部分：<b>a.员工捐赠计划；b.社区投资团队；c.赠款计划</b>.</blockquote></p><p> The second public welfare plan, namely “Community Investment Team,” is for NGOs across the globe. Since the amount has not been disclosed, it is estimated that the amount of donation is not much. The third plan “Grant Program” is for the locations of Apple/groups, with an annual quota of $1 million. Only the first plan is the focus of Apple’s philanthropy.</p><p><blockquote>第二个公益计划，即“社区投资团队”，面向全球的非政府组织。由于未公开金额，估计捐款金额不多。第三个计划“赠款计划”面向苹果/团体所在地，每年额度为100万美元。只有第一个计划是苹果慈善事业的重点。</blockquote></p><p> Apple’s Employee Giving Program is based on employee donations, and the company conducts a match rate of 1:1. Beyond that, Apple will also match the time spent by employees in public welfare activities at $25 per hour. Since the implementation of the project in 2011, more than $600 million has been donated by the company and its employees, benefiting 34,000 organizations worldwide, and employees have together contributed 1.6 million hours of work.</p><p><blockquote>苹果的员工捐赠计划以员工捐赠为基础，公司进行1：1的匹配比例。除此之外，苹果还将为员工在公益活动中花费的时间按每小时25美元进行匹配。自2011年项目实施以来，该公司及其员工已捐赠超过6亿美元，惠及全球34,000个组织，员工共同贡献了160万小时的工作。</blockquote></p><p> The advantages are listed as follows:</p><p><blockquote>优点列举如下：</blockquote></p><p> <b>1. The company can be better protected. </b>The company’s move of placing employees on the front line of public welfare undertakings can arouse the enthusiasm of employees and also hide the company behind them. Apple will never get caught up in public opinions like “Why don’t Apple donate as much as <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</p><p><blockquote><b>1、公司可以得到更好的保护。</b>公司将员工放在公益事业第一线的举动，可以调动员工的积极性，也可以将公司隐藏在背后。苹果永远不会陷入像“为什么苹果不捐那么多钱<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</blockquote></p><p></p><p> <b>2. Tax avoidance is best realized.</b> Donations made by enterprises to public welfare undertakings will always be suspected of tax avoidance and will also be questioned by the public. However, if the donation amount of an enterprise is matched by that of employees, the company’s expenditure can be figured in the employee’s expense item (salary) in the company’s financial report, which reduces the tax base.</p><p><blockquote><b>2.避税最好实现。</b>企业对公益事业的捐款总会有避税的嫌疑，也会受到公众的质疑。但是，如果企业的捐赠金额与员工的捐赠金额相匹配，公司的支出可以在公司财报中员工的费用项目（工资）中计算，这样就减少了税基。</blockquote></p><p> <b>3. The scope of charity is wider.</b> Apple has a large number of employees spreading widely around the world. The charity projects they seek on their own are far more than those concerned by the media. Apple’s philanthropy spreads to all corners of society, which will be pretty good for the overall image of Apple. Compared with the recently happened disaster in Henan province which attracted countless donations, there are more other public welfare undertakings that have not been reported by media and paid attention to by both individuals and companies. If employees of Tencent, Alibaba, and Xiaomi can be mobilized to explore more public welfare projects, the inclusive work for society will be much better.</p><p><blockquote><b>3.慈善的范围更广。</b>苹果拥有大量员工，广泛分布在世界各地。他们自己寻求的慈善项目远不止媒体关注的那些。苹果的慈善事业普及到社会各个角落，对苹果的整体形象会是相当不错的。与最近发生在河南省的灾难吸引了无数的捐款相比，还有更多的其他公益事业没有被媒体报道，也没有被个人和公司所关注。如果能发动腾讯控股、阿里巴巴-SW、小米的员工去探索更多的公益项目，对社会的普惠工作会好很多。</blockquote></p><p> To my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”</p><p><blockquote>在我看来，中国互联网企业应该借鉴苹果的经验，切实迎接“三次发行”。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","01810":"小米集团-W","PDD":"拼多多","00700":"腾讯控股","BIDU":"百度","BABA":"阿里巴巴"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173987909","content_text":"According to the latest policy directives issued in China, “The Tertiary Distribution” is about to be put into effect. Citing various sources, the so-called “The Tertiary Distribution” refers to the further adjustment of social income distribution through social entities’ (enterprises and individuals) voluntary, charitable donations, which is in the stage of micro-adjustment. In the meantime, the policy also clearly instructs that the country should encourage high-income groups and enterprises to give back to society to a greater extent.\nThere are many high-income groups, including celebrities and real estate speculators. And, high-income companies, in terms of financial reports, include leading Internet companies, China’s top five banks, and other state-owned enterprises. Here, we will discuss what Internet companies should do in “The Tertiary Distribution.”\nFrom the view of current beneficial donations, Internet companies have played an increasingly important role. Let’s take the flood disaster that recently occurred in Henan as an example. TENCENT donated 100 million yuan, Alibaba donated 100 million yuan, and Xiaomi donated 50 million yuan... But there are problems with the current way of donating by Internet companies.\n1. The burden born by Internet companies is heavy. Although the leading Internet companies have made plenty of profits, many companies are not profitable or even in the red. After the flood disaster of Henan province, Pinduoduo, the largest agriculture-focused technology platform in China, also announced a donation of 100 million yuan. It should be noted that the company is at a loss. The large-scale donation will also deliver an illusion to society: These companies are capable of donating more money.\n2. There is a phenomenon of unrealistic comparison among Internet companies. The beneficial donations conducted by Internet corporates have entered the stage of comparison, which is related to Chinese cultural traditions. The donation amount of BAT (Baidu, Alibaba, and Tencent) is in one echelon, while that of XIAOMI-W and OmniVision is in another echelon. The comparison on donation amount makes companies complain, and it also makes the public feel that Internet companies are flaunting the considerable wealth.\n3. Public beneficial donations are not sustainable. Tencent donated 100 million yuan to help people in Henan fight the natural calamity. What should Tencent do if there is another city suffering from disaster? How much should Tencent donate if there are more natural calamities? Global warming will give rise to more and more disasters. Therefore, the immoderate, planless donations will become a big unknown for the future operation of these enterprises.\nThe United States is the country that has done the best in public welfare. As a leading conglomerate in the United States, how does Apple deal with “The Tertiary Distributions?”\nApple has partly disclosed the information on its charitable donations. According to the disclosure, charitable donations completed by Apple can be divided into three parts: a. Employee Giving Program; b. Community Investment Team; c. Grant Program.\nThe second public welfare plan, namely “Community Investment Team,” is for NGOs across the globe. Since the amount has not been disclosed, it is estimated that the amount of donation is not much. The third plan “Grant Program” is for the locations of Apple/groups, with an annual quota of $1 million. Only the first plan is the focus of Apple’s philanthropy.\nApple’s Employee Giving Program is based on employee donations, and the company conducts a match rate of 1:1. Beyond that, Apple will also match the time spent by employees in public welfare activities at $25 per hour. Since the implementation of the project in 2011, more than $600 million has been donated by the company and its employees, benefiting 34,000 organizations worldwide, and employees have together contributed 1.6 million hours of work.\nThe advantages are listed as follows:\n1. The company can be better protected. The company’s move of placing employees on the front line of public welfare undertakings can arouse the enthusiasm of employees and also hide the company behind them. Apple will never get caught up in public opinions like “Why don’t Apple donate as much as Alphabet?”.\n2. Tax avoidance is best realized. Donations made by enterprises to public welfare undertakings will always be suspected of tax avoidance and will also be questioned by the public. However, if the donation amount of an enterprise is matched by that of employees, the company’s expenditure can be figured in the employee’s expense item (salary) in the company’s financial report, which reduces the tax base.\n3. The scope of charity is wider. Apple has a large number of employees spreading widely around the world. The charity projects they seek on their own are far more than those concerned by the media. Apple’s philanthropy spreads to all corners of society, which will be pretty good for the overall image of Apple. Compared with the recently happened disaster in Henan province which attracted countless donations, there are more other public welfare undertakings that have not been reported by media and paid attention to by both individuals and companies. If employees of Tencent, Alibaba, and Xiaomi can be mobilized to explore more public welfare projects, the inclusive work for society will be much better.\nTo my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”","news_type":1,"symbols_score_info":{"PDD":0.9,"BIDU":0.9,"01810":0.9,"BABA":0.9,"AAPL":0.9,"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":3164,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175482405,"gmtCreate":1627046898907,"gmtModify":1631888805018,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Never too late,&nbsp;","listText":"Never too late,&nbsp;","text":"Never too late,","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/175482405","repostId":"2153983451","repostType":4,"isVote":1,"tweetType":1,"viewCount":3254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186310128,"gmtCreate":1623472986664,"gmtModify":1634032657240,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Inflation prepAration on the way","listText":"Inflation prepAration on the way","text":"Inflation prepAration on the way","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/186310128","repostId":"1118102755","repostType":4,"repost":{"id":"1118102755","kind":"news","pubTimestamp":1623469189,"share":"https://www.laohu8.com/m/news/1118102755?lang=zh_CN&edition=full","pubTime":"2021-06-12 11:39","market":"us","language":"en","title":"Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118102755","media":"MarketWatch","summary":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank ","content":"<p>  <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>  Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p><p><blockquote><b>迈克尔·布拉什(Michael Brush)就如何在债券收益率上升和央行减少刺激措施时避免犯错误提出了建议。</b>不要被对十多年来最高通胀率的平静反应所迷惑。通胀将保持在足以撼动股市的高位，可能导致高达15%的抛售。你现在需要准备。</blockquote></p><p> The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p><p><blockquote>原因是：持续的高通胀将使10年期国债收益率升至2%，并让美联储在年底前开始缩减刺激措施。两者都会扰乱股市。</blockquote></p><p> The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p><p><blockquote>政府6月10日表示，5月份生活成本飙升，推动通胀率升至5%的13年高点。</blockquote></p><p> What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p><p><blockquote>你该怎么办？可能和你想的正好相反。在我们讨论这个问题之前，我们先来看看从今天到年底之间股市的两个关键事件——债券市场和美联储。</blockquote></p><p> <b>Rising yields</b></p><p><blockquote><b>收益率上升</b></blockquote></p><p> Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p><p><blockquote>还记得今年早些时候，当10年期国债收益率TMUBMUSD10Y, 1.452%升至1.7%左右时，股市是如何恐慌的吗？好吧，期待重演。只会更糟。</blockquote></p><p> “We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p><p><blockquote>凯投宏观(Capital Economics)经济学家弗兰齐斯卡·帕尔马斯(Franziska Palmas)以劳动力市场紧张和工资增长为由表示：“我们怀疑美国的通胀将比投资者目前预期的更加持久。”她的研究小组预计今年年底10年期国债收益率为2.25%，2022年底为2.5%。</blockquote></p><p> That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p><p><blockquote>与目前1.5%的水平相比，这将是一个很大的变化。当利率大幅上升时，股票投资者往往会感到恐慌。</blockquote></p><p> <b>Fed tapering</b></p><p><blockquote><b>美联储缩减规模</b></blockquote></p><p> Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p><p><blockquote>美联储主席鲍威尔淡化了央行缩减购债规模以保持低收益率的必要性。但联邦公开市场委员会（FOMC）12名成员中有一半最近表示，他们准备开始讨论缩减规模。FOMC是美联储制定货币政策的分支机构。</blockquote></p><p> “It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p><p><blockquote>《预测市场》一书的作者兼亚德尼研究主管埃德·亚德尼(Ed Yardeni)表示：“在美联储开始谈论缩减规模之前，鲍威尔越来越难以声称经济需要在实现最大就业方面取得‘实质性的进一步进展’。”鲍威尔多次表示，美联储正在等待经济取得“实质性的进一步进展”，然后再终止刺激措施。</blockquote></p><p> “Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p><p><blockquote>亚德尼预测：“鉴于经济表现，有理由预计他们将在年底前开始缩减规模，几个月后他们将开始提高联邦基金利率。”</blockquote></p><p> He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p><p><blockquote>他认为美联储将在7月会议上宣布开始缩减规模的决定。Tapering是指美联储缩减购债规模。这收紧了货币供应，抑制了经济增长。一旦购买量降至零，美联储就会继续降息。</blockquote></p><p> As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p><p><blockquote>众所周知，缩减规模会导致股市出现“缩减恐慌”，这意味着标普500 SPX指数+0.19%、道琼斯工业平均指数道琼斯指数+0.04%和纳斯达克综合指数+0.35%等指数大幅抛售。</blockquote></p><p> <b>How to prepare</b></p><p><blockquote><b>如何准备</b></blockquote></p><p> When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p><p><blockquote>在考虑如何为债券收益率上升和美联储紧缩政策可能引发的抛售做好准备时，要记住的关键事情是为什么会发生这些事情，以及历史告诉我们股票的表现。</blockquote></p><p> The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p><p><blockquote>人们普遍认为，缩减购债规模和债券收益率上升会扼杀经济增长和股市牛市。但这实际上不是真的。</blockquote></p><p> Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p><p><blockquote>是的，最初，紧缩可能会导致股市下跌——或者充其量是横盘震荡。但随着牛市的持续，股市摆脱了这一局面并走高。这是有道理的，因为紧缩的发生是有帮助企业的充分理由的——强劲的经济增长。这大幅推高了盈利，从而将估值重置为较低——回落到投资者感到满意的水平。</blockquote></p><p> “Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p><p><blockquote>Leuthold市场策略师吉姆·保尔森(Jim Paulsen)表示：“缩减规模是复苏的重要组成部分。”“这是对成功政策和经济反弹的回应。这是牛市的自然组成部分，允许市场走高。这是一种健康的发展。”</blockquote></p><p> Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p><p><blockquote>纵观未来可能出现的所有市场亮点，保尔森认为潜在的经济增长将推动标普500的盈利在年底前达到220美元。假设标普500处于当前水平或略低，这将使该指数的市盈率(P/E)降至18-19——接近或低于1990年以来的平均水平。“这为牛市的下一阶段奠定了基础，”他说。</blockquote></p><p> <b>Your five-point game plan</b></p><p><blockquote><b>你的五点游戏计划</b></blockquote></p><p> <b>1. Do not go to “defensives”</b></p><p><blockquote><b>1.不要去“防御性”</b></blockquote></p><p></p><p> When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p><p><blockquote>当人们看到股市动荡时，下意识的反应是追求公用事业和必需消费品等防御性股票的“稳定性”。但那将是一个错误。当经济放缓或收缩时，你想采取防御措施，而不是当经济强劲时。另一个问题是防御性名称需要支付收益。因此，与债券一样，它们也会受到利率上升的打击，利率上升会使股息以及支付股息的股票和债券贬值。</blockquote></p><p> “The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p><p><blockquote>“保护自己的最佳方式是将您的投资组合与过热的经济挂钩。这是最佳利润增长和利润杠杆的地方，”保尔森说。“防御性药物是不会有这种感觉的。”</blockquote></p><p> <b>2. Go with companies that benefit from growth</b></p><p><blockquote><b>2.与受益于增长的公司同行</b></blockquote></p><p> Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p><p><blockquote>由于快速的经济增长正在导致缩减规模——而且增长通常不会被紧缩扼杀——与增长相关的股票通常是最好的选择。这意味着周期性股票，如工业股、基础材料消费股、小盘股和国际股票。保尔森表示：“消费必需品和公用事业增长放缓将无法跟上市场增长领域的步伐。”</blockquote></p><p> I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p><p><blockquote>我首先建议Lindblad Expeditions LIND，+0.17%和Cardlytics CDLX，+4.54%，并在我的股票信中，在2020年9月和2019年11月重温股票（我网站的链接在下面的简历中）。尽管它们的股价分别上涨了48%和157%，即标普500的两到四倍，但我仍然喜欢并拥有这两家公司。最近的内部买入证实了他们在当前水平附近买入并持有。另外，两者都是循环名称。Cardlytics帮助信用卡公司出于营销目的了解客户购买模式。Lindblad提供专门的异国情调的邮轮冒险。两者都受益于推动更多消费者支出的经济增长。</blockquote></p><p> <b>3. Do not get out of stocks</b></p><p><blockquote><b>3、不脱销库存</b></blockquote></p><p> If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p><p><blockquote>如果您认为抛售即将到来，那么在此之前尝试卖出股票，并在疲软发生后回购股票可能很诱人。但这比你想象的要困难得多。市场资深人士表示，事实上，几乎不可能把握好时机。</blockquote></p><p> “You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p><p><blockquote>“你必须做出两个明智的决定，”亚德尼说。“你必须在修正之前退出，然后你必须决定何时重新加入。我不知道有多少人能始终如一地做到这一点。”</blockquote></p><p> Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p><p><blockquote>市场计时器通常会退出，不会再回来，他们会错过下一轮上涨。“试图避免调整可能会给自己带来麻烦，”保尔森说。</blockquote></p><p> <b>4. Do not own bonds</b></p><p><blockquote><b>4.不持有债券</b></blockquote></p><p> Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p><p><blockquote>到年底，债券收益率将达到2%或更高。因此，不要持有债券，当收益率上升时，债券的价格就会下跌——除非您只是计划持有至到期以收取收入。</blockquote></p><p> <b>5. Go with financials</b></p><p><blockquote><b>5.选择财务</b></blockquote></p><p> Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p><p><blockquote>强劲的经济体通常会使收益率曲线更加向上倾斜，这意味着10年期国债的长期利率上升速度远快于短期利率。由于银行在短端借款，在长端放贷，陡峭的收益率曲线对它们有帮助。</blockquote></p><p> The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</p><p><blockquote>亚德尼指出，强劲的经济还将帮助银行释放准备金并降低贷款损失准备金，这两者都可以提高收益。自从我去年8月在股票信中提出建议以来，摩根大通JPM(-0.07%)和美国银行BAC(+0.41%)的涨幅都是标普500的两倍多。但它们看起来仍然很有吸引力。小型银行中聪明的内部人士最近的买入模式证实，尽管过去几个季度表现强劲，但该行业仍然值得持有。</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>Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</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\">\nDon’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare<blockquote>不要被愚弄了——通货膨胀对股市投资者来说是一个很大的风险。以下是如何准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-12 11:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>  Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p><p><blockquote><b>迈克尔·布拉什(Michael Brush)就如何在债券收益率上升和央行减少刺激措施时避免犯错误提出了建议。</b>不要被对十多年来最高通胀率的平静反应所迷惑。通胀将保持在足以撼动股市的高位，可能导致高达15%的抛售。你现在需要准备。</blockquote></p><p> The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p><p><blockquote>原因是：持续的高通胀将使10年期国债收益率升至2%，并让美联储在年底前开始缩减刺激措施。两者都会扰乱股市。</blockquote></p><p> The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p><p><blockquote>政府6月10日表示，5月份生活成本飙升，推动通胀率升至5%的13年高点。</blockquote></p><p> What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p><p><blockquote>你该怎么办？可能和你想的正好相反。在我们讨论这个问题之前，我们先来看看从今天到年底之间股市的两个关键事件——债券市场和美联储。</blockquote></p><p> <b>Rising yields</b></p><p><blockquote><b>收益率上升</b></blockquote></p><p> Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p><p><blockquote>还记得今年早些时候，当10年期国债收益率TMUBMUSD10Y, 1.452%升至1.7%左右时，股市是如何恐慌的吗？好吧，期待重演。只会更糟。</blockquote></p><p> “We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p><p><blockquote>凯投宏观(Capital Economics)经济学家弗兰齐斯卡·帕尔马斯(Franziska Palmas)以劳动力市场紧张和工资增长为由表示：“我们怀疑美国的通胀将比投资者目前预期的更加持久。”她的研究小组预计今年年底10年期国债收益率为2.25%，2022年底为2.5%。</blockquote></p><p> That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p><p><blockquote>与目前1.5%的水平相比，这将是一个很大的变化。当利率大幅上升时，股票投资者往往会感到恐慌。</blockquote></p><p> <b>Fed tapering</b></p><p><blockquote><b>美联储缩减规模</b></blockquote></p><p> Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p><p><blockquote>美联储主席鲍威尔淡化了央行缩减购债规模以保持低收益率的必要性。但联邦公开市场委员会（FOMC）12名成员中有一半最近表示，他们准备开始讨论缩减规模。FOMC是美联储制定货币政策的分支机构。</blockquote></p><p> “It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p><p><blockquote>《预测市场》一书的作者兼亚德尼研究主管埃德·亚德尼(Ed Yardeni)表示：“在美联储开始谈论缩减规模之前，鲍威尔越来越难以声称经济需要在实现最大就业方面取得‘实质性的进一步进展’。”鲍威尔多次表示，美联储正在等待经济取得“实质性的进一步进展”，然后再终止刺激措施。</blockquote></p><p> “Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p><p><blockquote>亚德尼预测：“鉴于经济表现，有理由预计他们将在年底前开始缩减规模，几个月后他们将开始提高联邦基金利率。”</blockquote></p><p> He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p><p><blockquote>他认为美联储将在7月会议上宣布开始缩减规模的决定。Tapering是指美联储缩减购债规模。这收紧了货币供应，抑制了经济增长。一旦购买量降至零，美联储就会继续降息。</blockquote></p><p> As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p><p><blockquote>众所周知，缩减规模会导致股市出现“缩减恐慌”，这意味着标普500 SPX指数+0.19%、道琼斯工业平均指数道琼斯指数+0.04%和纳斯达克综合指数+0.35%等指数大幅抛售。</blockquote></p><p> <b>How to prepare</b></p><p><blockquote><b>如何准备</b></blockquote></p><p> When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p><p><blockquote>在考虑如何为债券收益率上升和美联储紧缩政策可能引发的抛售做好准备时，要记住的关键事情是为什么会发生这些事情，以及历史告诉我们股票的表现。</blockquote></p><p> The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p><p><blockquote>人们普遍认为，缩减购债规模和债券收益率上升会扼杀经济增长和股市牛市。但这实际上不是真的。</blockquote></p><p> Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p><p><blockquote>是的，最初，紧缩可能会导致股市下跌——或者充其量是横盘震荡。但随着牛市的持续，股市摆脱了这一局面并走高。这是有道理的，因为紧缩的发生是有帮助企业的充分理由的——强劲的经济增长。这大幅推高了盈利，从而将估值重置为较低——回落到投资者感到满意的水平。</blockquote></p><p> “Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p><p><blockquote>Leuthold市场策略师吉姆·保尔森(Jim Paulsen)表示：“缩减规模是复苏的重要组成部分。”“这是对成功政策和经济反弹的回应。这是牛市的自然组成部分，允许市场走高。这是一种健康的发展。”</blockquote></p><p> Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p><p><blockquote>纵观未来可能出现的所有市场亮点，保尔森认为潜在的经济增长将推动标普500的盈利在年底前达到220美元。假设标普500处于当前水平或略低，这将使该指数的市盈率(P/E)降至18-19——接近或低于1990年以来的平均水平。“这为牛市的下一阶段奠定了基础，”他说。</blockquote></p><p> <b>Your five-point game plan</b></p><p><blockquote><b>你的五点游戏计划</b></blockquote></p><p> <b>1. Do not go to “defensives”</b></p><p><blockquote><b>1.不要去“防御性”</b></blockquote></p><p></p><p> When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p><p><blockquote>当人们看到股市动荡时，下意识的反应是追求公用事业和必需消费品等防御性股票的“稳定性”。但那将是一个错误。当经济放缓或收缩时，你想采取防御措施，而不是当经济强劲时。另一个问题是防御性名称需要支付收益。因此，与债券一样，它们也会受到利率上升的打击，利率上升会使股息以及支付股息的股票和债券贬值。</blockquote></p><p> “The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p><p><blockquote>“保护自己的最佳方式是将您的投资组合与过热的经济挂钩。这是最佳利润增长和利润杠杆的地方，”保尔森说。“防御性药物是不会有这种感觉的。”</blockquote></p><p> <b>2. Go with companies that benefit from growth</b></p><p><blockquote><b>2.与受益于增长的公司同行</b></blockquote></p><p> Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p><p><blockquote>由于快速的经济增长正在导致缩减规模——而且增长通常不会被紧缩扼杀——与增长相关的股票通常是最好的选择。这意味着周期性股票，如工业股、基础材料消费股、小盘股和国际股票。保尔森表示：“消费必需品和公用事业增长放缓将无法跟上市场增长领域的步伐。”</blockquote></p><p> I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p><p><blockquote>我首先建议Lindblad Expeditions LIND，+0.17%和Cardlytics CDLX，+4.54%，并在我的股票信中，在2020年9月和2019年11月重温股票（我网站的链接在下面的简历中）。尽管它们的股价分别上涨了48%和157%，即标普500的两到四倍，但我仍然喜欢并拥有这两家公司。最近的内部买入证实了他们在当前水平附近买入并持有。另外，两者都是循环名称。Cardlytics帮助信用卡公司出于营销目的了解客户购买模式。Lindblad提供专门的异国情调的邮轮冒险。两者都受益于推动更多消费者支出的经济增长。</blockquote></p><p> <b>3. Do not get out of stocks</b></p><p><blockquote><b>3、不脱销库存</b></blockquote></p><p> If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p><p><blockquote>如果您认为抛售即将到来，那么在此之前尝试卖出股票，并在疲软发生后回购股票可能很诱人。但这比你想象的要困难得多。市场资深人士表示，事实上，几乎不可能把握好时机。</blockquote></p><p> “You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p><p><blockquote>“你必须做出两个明智的决定，”亚德尼说。“你必须在修正之前退出，然后你必须决定何时重新加入。我不知道有多少人能始终如一地做到这一点。”</blockquote></p><p> Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p><p><blockquote>市场计时器通常会退出，不会再回来，他们会错过下一轮上涨。“试图避免调整可能会给自己带来麻烦，”保尔森说。</blockquote></p><p> <b>4. Do not own bonds</b></p><p><blockquote><b>4.不持有债券</b></blockquote></p><p> Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p><p><blockquote>到年底，债券收益率将达到2%或更高。因此，不要持有债券，当收益率上升时，债券的价格就会下跌——除非您只是计划持有至到期以收取收入。</blockquote></p><p> <b>5. Go with financials</b></p><p><blockquote><b>5.选择财务</b></blockquote></p><p> Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p><p><blockquote>强劲的经济体通常会使收益率曲线更加向上倾斜，这意味着10年期国债的长期利率上升速度远快于短期利率。由于银行在短端借款，在长端放贷，陡峭的收益率曲线对它们有帮助。</blockquote></p><p> The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</p><p><blockquote>亚德尼指出，强劲的经济还将帮助银行释放准备金并降低贷款损失准备金，这两者都可以提高收益。自从我去年8月在股票信中提出建议以来，摩根大通JPM(-0.07%)和美国银行BAC(+0.41%)的涨幅都是标普500的两倍多。但它们看起来仍然很有吸引力。小型银行中聪明的内部人士最近的买入模式证实，尽管过去几个季度表现强劲，但该行业仍然值得持有。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118102755","content_text":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.\n\nDon’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.\nThe reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.\nThe government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.\nWhat should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.\nRising yields\nRemember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452% moved up to around 1.7%? Well, expect a repeat. Only worse.\n“We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.\nThat’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.\nFed tapering\nFed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee (FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.\n“It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.\n“Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.\nHe thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.\nAs we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&P 500 SPX,+0.19%, the Dow Jones Industrial Average DJIA,+0.04% and Nasdaq COMP,+0.35%.\nHow to prepare\nWhen considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.\nThe consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.\nYes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.\n“Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”\nLooking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&P 500 earnings up to $220 by the end of the year. Assuming the S&P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.\nYour five-point game plan\n1. Do not go to “defensives”\nWhen people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.\n“The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”\n2. Go with companies that benefit from growth\nSince rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.\nI first suggested Lindblad Expeditions LIND,+0.17% and Cardlytics CDLX,+4.54% and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.\n3. Do not get out of stocks\nIf you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.\n“You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”\nMarket timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.\n4. Do not own bonds\nBond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.\n5. Go with financials\nStrong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.\nThe strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07% and Bank of America BAC,+0.41% are up over twice as much as the S&P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":474,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180584679,"gmtCreate":1623212639491,"gmtModify":1631884666605,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"China can help","listText":"China can help","text":"China can help","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/180584679","repostId":"2142299762","repostType":4,"isVote":1,"tweetType":1,"viewCount":738,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136335830,"gmtCreate":1621993851420,"gmtModify":1634184886491,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Biden worried, I no worries[Smile]&nbsp;","listText":"Biden worried, I no worries[Smile]&nbsp;","text":"Biden worried, I no worries[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/136335830","repostId":"1160961066","repostType":4,"isVote":1,"tweetType":1,"viewCount":1218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373523607,"gmtCreate":1618874045909,"gmtModify":1634290302793,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Looks good","listText":"Looks good","text":"Looks good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/373523607","repostId":"1191925459","repostType":4,"isVote":1,"tweetType":1,"viewCount":802,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892505006,"gmtCreate":1628669847505,"gmtModify":1631888804994,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Oh well","listText":"Oh well","text":"Oh well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/892505006","repostId":"2158475046","repostType":4,"isVote":1,"tweetType":1,"viewCount":3454,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122494530,"gmtCreate":1624629497820,"gmtModify":1631888805104,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Yeah... Tesla&nbsp; investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX","listText":"Yeah... Tesla&nbsp; investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX","text":"Yeah... Tesla investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122494530","repostId":"1116076888","repostType":4,"repost":{"id":"1116076888","kind":"news","pubTimestamp":1624612129,"share":"https://www.laohu8.com/m/news/1116076888?lang=zh_CN&edition=full","pubTime":"2021-06-25 17:08","market":"us","language":"en","title":"Why Tesla stock is getting left in Ford's and GM's dust<blockquote>为什么特斯拉股票被福特和通用汽车甩在身后</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1116076888","media":"cnn","summary":"New York Tesla had a stellar 2020: The electric car maker was added to the S&P 500 and the stock surged an electrifying 743%. But some investors have pulled the plug on the company lately.Tesla  shares are nearly 25% below their all-time high set earlier in the year, and down 2% for 2021 to date -— a time when traditional automakers are surging as they ramp up electric vehicle ambitions.It seems investors are a bit infatuated with these legacy Big 3 automakers as they look to rapidly expand thei","content":"<p>New York (CNN Business)Tesla had a stellar 2020: The electric car maker was added to the S&amp;P 500 and the stock surged an electrifying 743%. But some investors have pulled the plug on the company lately.</p><p><blockquote>纽约（CNN商业）特斯拉2020年表现出色：这家电动汽车制造商被纳入标普500，股价飙升743%。但一些投资者最近退出了该公司。</blockquote></p><p> Tesla (TSLA) shares are nearly 25% below their all-time high set earlier in the year, and down 2% for 2021 to date -— a time when traditional automakers are surging as they ramp up electric vehicle ambitions.</p><p><blockquote>特斯拉(TSLA)股价较今年早些时候创下的历史高点低近25%，2021年迄今已下跌2%——此时传统汽车制造商正在飙升，因为他们加大了电动汽车的雄心。</blockquote></p><p> Ford (F) stock is up nearly 75%, putting it in the top 10 of the S&amp;P 500 in 2021. The company unveiled its electric F-150 Lightning truck last month and also told investors that it now expects electric vehicles to account for 40% of global sales by 2030.</p><p><blockquote>福特(F)股价上涨近75%，跻身2021年标普500前十名。该公司上个月推出了电动F-150 Lightning卡车，还告诉投资者，目前预计到2030年电动汽车将占全球销量的40%。</blockquote></p><p> And GM (GM) is up more than 40% as well. The Chevrolet, Buick and Cadillac maker said this month that it's looking to spend a whopping $35 billion on EVs by 2025.</p><p><blockquote>通用汽车(GM)也上涨了40%以上。这家雪佛兰、别克和凯迪拉克制造商本月表示，计划到2025年在电动汽车上投入高达350亿美元。</blockquote></p><p> It seems investors are a bit infatuated with these legacy Big 3 automakers as they look to rapidly expand their electric car offerings to catch up with Tesla.</p><p><blockquote>投资者似乎对这些传统的三大汽车制造商有点迷恋，因为他们希望迅速扩大电动汽车产品以赶上特斯拉。</blockquote></p><p> Tesla is still growing incredibly quickly. Analysts expect earnings per share to more than double this year and increase at an average rate of about 45% annually over the next few years.</p><p><blockquote>特斯拉仍在以令人难以置信的速度增长。分析师预计，今年每股收益将增长一倍以上，未来几年将以年均45%左右的速度增长。</blockquote></p><p> Yet Tesla is one of the most polarizing stocks on Wall Street.</p><p><blockquote>然而，特斯拉是华尔街最两极分化的股票之一。</blockquote></p><p> According to Refinitiv, 14 analysts have the stock rated a \"buy,\" 13 a \"hold\" and 10 a \"sell.\" Contrast that with GM, which has 20 buy ratings, two holds and no sells.</p><p><blockquote>根据Refinitiv的数据，14名分析师将该股评级为“买入”，13名分析师评级为“持有”，10名分析师评级为“卖出”。相比之下，通用汽车有20个买入评级，2个持有评级，没有卖出评级。</blockquote></p><p> <b>Skeptics have many questions about Tesla and Musk</b></p><p><blockquote><b>怀疑论者对特斯拉和马斯克有很多疑问</b></blockquote></p><p> The consensus target price for Tesla stock from analysts is $652, about 6% lower than its current price.</p><p><blockquote>分析师对特斯拉股票的一致目标价为652美元，比当前价格低约6%。</blockquote></p><p> Tesla critics have a pile of worries to point to. A notable short seller who was featured in \"The Big Short\" is betting against the company. Concerns about Tesla's management bench sprung up after longtime executive Jerome Guillen abruptly left earlier this month — especially since CEO Elon Musk is also busy running SpaceX.</p><p><blockquote>特斯拉的批评者有一大堆担忧要指出。《大空头》中的一位著名卖空者正在做空该公司。在长期高管Jerome Guillen本月早些时候突然离职后，人们对特斯拉管理层的担忧激增——特别是因为首席执行官Elon Musk也在忙于运营SpaceX。</blockquote></p><p> And Musk's obsession with bitcoin and dogecoin, along with other extracurricular activities like hosting Saturday Night Live and constantly tweeting, might be a turnoff for some investors and analysts.</p><p><blockquote>马斯克对比特币和狗狗币的痴迷，以及主持周六夜现场和不断发推文等其他课外活动，可能会让一些投资者和分析师感到厌烦。</blockquote></p><p> Still, there is no denying that the company has plenty of ardent fans, and its vehicles have grabbed plenty of positive headlines this week alone.</p><p><blockquote>尽管如此，不可否认的是，该公司拥有大量热情的粉丝，其车辆仅在本周就占据了大量正面头条新闻。</blockquote></p><p> For example, Cars.com (CARS) announced earlier this week that Tesla's Model 3 was ranked first in its American-Made Index, which measures how much a vehicle contributes to the US economy based on factors such as domestic factory jobs, manufacturing plants and parts sourcing.</p><p><blockquote>例如，Cars.com(CARS)本周早些时候宣布，特斯拉Model 3在其美国制造指数中排名第一，该指数根据国内工厂就业、制造工厂等因素衡量车辆对美国经济的贡献程度和零部件采购。</blockquote></p><p> The Model 3 edged out Ford's Mustang for the top spot, and Tesla's Model Y also ranked third on the list. Shares of Tesla rallied more than 5% Wednesday following the news.</p><p><blockquote>Model 3力压福特野马夺得榜首，特斯拉Model Y也位列榜单第三。消息传出后，特斯拉股价周三上涨超过5%。</blockquote></p><p> The stock gained even more ground Thursday after Musk tweeted the night before that Tesla investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX eventually decides to spin off the satellite internet service in a few years.</p><p><blockquote>马斯克前一天晚上在推特上表示，如果SpaceX最终决定在几年内剥离卫星互联网服务，特斯拉投资者可能会获得购买SpaceX旗下Starlink股票的优惠待遇，该股周四进一步上涨。</blockquote></p><p> So even though Tesla's stock is still in the red this year, shares have quickly clawed back much of their 2021 losses after a more than 12% surge in the past five days.</p><p><blockquote>因此，尽管特斯拉的股价今年仍处于亏损状态，但在过去五天飙升超过12%后，该股已迅速收复了2021年的大部分跌幅。</blockquote></p><p> Tesla is nothing if not volatile.</p><p><blockquote>如果不是不稳定的话，特斯拉什么都不是。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Tesla stock is getting left in Ford's and GM's dust<blockquote>为什么特斯拉股票被福特和通用汽车甩在身后</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Tesla stock is getting left in Ford's and GM's dust<blockquote>为什么特斯拉股票被福特和通用汽车甩在身后</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-06-25 17:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>New York (CNN Business)Tesla had a stellar 2020: The electric car maker was added to the S&amp;P 500 and the stock surged an electrifying 743%. But some investors have pulled the plug on the company lately.</p><p><blockquote>纽约（CNN商业）特斯拉2020年表现出色：这家电动汽车制造商被纳入标普500，股价飙升743%。但一些投资者最近退出了该公司。</blockquote></p><p> Tesla (TSLA) shares are nearly 25% below their all-time high set earlier in the year, and down 2% for 2021 to date -— a time when traditional automakers are surging as they ramp up electric vehicle ambitions.</p><p><blockquote>特斯拉(TSLA)股价较今年早些时候创下的历史高点低近25%，2021年迄今已下跌2%——此时传统汽车制造商正在飙升，因为他们加大了电动汽车的雄心。</blockquote></p><p> Ford (F) stock is up nearly 75%, putting it in the top 10 of the S&amp;P 500 in 2021. The company unveiled its electric F-150 Lightning truck last month and also told investors that it now expects electric vehicles to account for 40% of global sales by 2030.</p><p><blockquote>福特(F)股价上涨近75%，跻身2021年标普500前十名。该公司上个月推出了电动F-150 Lightning卡车，还告诉投资者，目前预计到2030年电动汽车将占全球销量的40%。</blockquote></p><p> And GM (GM) is up more than 40% as well. The Chevrolet, Buick and Cadillac maker said this month that it's looking to spend a whopping $35 billion on EVs by 2025.</p><p><blockquote>通用汽车(GM)也上涨了40%以上。这家雪佛兰、别克和凯迪拉克制造商本月表示，计划到2025年在电动汽车上投入高达350亿美元。</blockquote></p><p> It seems investors are a bit infatuated with these legacy Big 3 automakers as they look to rapidly expand their electric car offerings to catch up with Tesla.</p><p><blockquote>投资者似乎对这些传统的三大汽车制造商有点迷恋，因为他们希望迅速扩大电动汽车产品以赶上特斯拉。</blockquote></p><p> Tesla is still growing incredibly quickly. Analysts expect earnings per share to more than double this year and increase at an average rate of about 45% annually over the next few years.</p><p><blockquote>特斯拉仍在以令人难以置信的速度增长。分析师预计，今年每股收益将增长一倍以上，未来几年将以年均45%左右的速度增长。</blockquote></p><p> Yet Tesla is one of the most polarizing stocks on Wall Street.</p><p><blockquote>然而，特斯拉是华尔街最两极分化的股票之一。</blockquote></p><p> According to Refinitiv, 14 analysts have the stock rated a \"buy,\" 13 a \"hold\" and 10 a \"sell.\" Contrast that with GM, which has 20 buy ratings, two holds and no sells.</p><p><blockquote>根据Refinitiv的数据，14名分析师将该股评级为“买入”，13名分析师评级为“持有”，10名分析师评级为“卖出”。相比之下，通用汽车有20个买入评级，2个持有评级，没有卖出评级。</blockquote></p><p> <b>Skeptics have many questions about Tesla and Musk</b></p><p><blockquote><b>怀疑论者对特斯拉和马斯克有很多疑问</b></blockquote></p><p> The consensus target price for Tesla stock from analysts is $652, about 6% lower than its current price.</p><p><blockquote>分析师对特斯拉股票的一致目标价为652美元，比当前价格低约6%。</blockquote></p><p> Tesla critics have a pile of worries to point to. A notable short seller who was featured in \"The Big Short\" is betting against the company. Concerns about Tesla's management bench sprung up after longtime executive Jerome Guillen abruptly left earlier this month — especially since CEO Elon Musk is also busy running SpaceX.</p><p><blockquote>特斯拉的批评者有一大堆担忧要指出。《大空头》中的一位著名卖空者正在做空该公司。在长期高管Jerome Guillen本月早些时候突然离职后，人们对特斯拉管理层的担忧激增——特别是因为首席执行官Elon Musk也在忙于运营SpaceX。</blockquote></p><p> And Musk's obsession with bitcoin and dogecoin, along with other extracurricular activities like hosting Saturday Night Live and constantly tweeting, might be a turnoff for some investors and analysts.</p><p><blockquote>马斯克对比特币和狗狗币的痴迷，以及主持周六夜现场和不断发推文等其他课外活动，可能会让一些投资者和分析师感到厌烦。</blockquote></p><p> Still, there is no denying that the company has plenty of ardent fans, and its vehicles have grabbed plenty of positive headlines this week alone.</p><p><blockquote>尽管如此，不可否认的是，该公司拥有大量热情的粉丝，其车辆仅在本周就占据了大量正面头条新闻。</blockquote></p><p> For example, Cars.com (CARS) announced earlier this week that Tesla's Model 3 was ranked first in its American-Made Index, which measures how much a vehicle contributes to the US economy based on factors such as domestic factory jobs, manufacturing plants and parts sourcing.</p><p><blockquote>例如，Cars.com(CARS)本周早些时候宣布，特斯拉Model 3在其美国制造指数中排名第一，该指数根据国内工厂就业、制造工厂等因素衡量车辆对美国经济的贡献程度和零部件采购。</blockquote></p><p> The Model 3 edged out Ford's Mustang for the top spot, and Tesla's Model Y also ranked third on the list. Shares of Tesla rallied more than 5% Wednesday following the news.</p><p><blockquote>Model 3力压福特野马夺得榜首，特斯拉Model Y也位列榜单第三。消息传出后，特斯拉股价周三上涨超过5%。</blockquote></p><p> The stock gained even more ground Thursday after Musk tweeted the night before that Tesla investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX eventually decides to spin off the satellite internet service in a few years.</p><p><blockquote>马斯克前一天晚上在推特上表示，如果SpaceX最终决定在几年内剥离卫星互联网服务，特斯拉投资者可能会获得购买SpaceX旗下Starlink股票的优惠待遇，该股周四进一步上涨。</blockquote></p><p> So even though Tesla's stock is still in the red this year, shares have quickly clawed back much of their 2021 losses after a more than 12% surge in the past five days.</p><p><blockquote>因此，尽管特斯拉的股价今年仍处于亏损状态，但在过去五天飙升超过12%后，该股已迅速收复了2021年的大部分跌幅。</blockquote></p><p> Tesla is nothing if not volatile.</p><p><blockquote>如果不是不稳定的话，特斯拉什么都不是。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/06/24/investing/tesla-stock-ford-gm/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://edition.cnn.com/2021/06/24/investing/tesla-stock-ford-gm/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116076888","content_text":"New York (CNN Business)Tesla had a stellar 2020: The electric car maker was added to the S&P 500 and the stock surged an electrifying 743%. But some investors have pulled the plug on the company lately.\nTesla (TSLA) shares are nearly 25% below their all-time high set earlier in the year, and down 2% for 2021 to date -— a time when traditional automakers are surging as they ramp up electric vehicle ambitions.\nFord (F) stock is up nearly 75%, putting it in the top 10 of the S&P 500 in 2021. The company unveiled its electric F-150 Lightning truck last month and also told investors that it now expects electric vehicles to account for 40% of global sales by 2030.\nAnd GM (GM) is up more than 40% as well. The Chevrolet, Buick and Cadillac maker said this month that it's looking to spend a whopping $35 billion on EVs by 2025.\nIt seems investors are a bit infatuated with these legacy Big 3 automakers as they look to rapidly expand their electric car offerings to catch up with Tesla.\nTesla is still growing incredibly quickly. Analysts expect earnings per share to more than double this year and increase at an average rate of about 45% annually over the next few years.\nYet Tesla is one of the most polarizing stocks on Wall Street.\nAccording to Refinitiv, 14 analysts have the stock rated a \"buy,\" 13 a \"hold\" and 10 a \"sell.\" Contrast that with GM, which has 20 buy ratings, two holds and no sells.\nSkeptics have many questions about Tesla and Musk\nThe consensus target price for Tesla stock from analysts is $652, about 6% lower than its current price.\nTesla critics have a pile of worries to point to. A notable short seller who was featured in \"The Big Short\" is betting against the company. Concerns about Tesla's management bench sprung up after longtime executive Jerome Guillen abruptly left earlier this month — especially since CEO Elon Musk is also busy running SpaceX.\nAnd Musk's obsession with bitcoin and dogecoin, along with other extracurricular activities like hosting Saturday Night Live and constantly tweeting, might be a turnoff for some investors and analysts.\nStill, there is no denying that the company has plenty of ardent fans, and its vehicles have grabbed plenty of positive headlines this week alone.\nFor example, Cars.com (CARS) announced earlier this week that Tesla's Model 3 was ranked first in its American-Made Index, which measures how much a vehicle contributes to the US economy based on factors such as domestic factory jobs, manufacturing plants and parts sourcing.\nThe Model 3 edged out Ford's Mustang for the top spot, and Tesla's Model Y also ranked third on the list. Shares of Tesla rallied more than 5% Wednesday following the news.\nThe stock gained even more ground Thursday after Musk tweeted the night before that Tesla investors might get preferential treatment to buy shares of SpaceX-owned Starlink if SpaceX eventually decides to spin off the satellite internet service in a few years.\nSo even though Tesla's stock is still in the red this year, shares have quickly clawed back much of their 2021 losses after a more than 12% surge in the past five days.\nTesla is nothing if not volatile.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2857,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181617517,"gmtCreate":1623389885339,"gmtModify":1634033847250,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"$185/ton. Oh no... Will&nbsp;buy electric car, if got more&nbsp;charging points in vicinity&nbsp;","listText":"$185/ton. Oh no... Will&nbsp;buy electric car, if got more&nbsp;charging points in vicinity&nbsp;","text":"$185/ton. Oh no... Will buy electric car, if got more charging points in vicinity","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181617517","repostId":"2142279140","repostType":4,"isVote":1,"tweetType":1,"viewCount":660,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111528206,"gmtCreate":1622687638105,"gmtModify":1634099127040,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Don't Go for Gold now&nbsp;","listText":"Don't Go for Gold now&nbsp;","text":"Don't Go for Gold now","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/111528206","repostId":"1139854419","repostType":4,"isVote":1,"tweetType":1,"viewCount":548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111218805,"gmtCreate":1622682135607,"gmtModify":1634099225681,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Watches Games stop going up last night","listText":"Watches Games stop going up last night","text":"Watches Games stop going up last night","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/111218805","repostId":"1140714291","repostType":4,"isVote":1,"tweetType":1,"viewCount":213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113173691,"gmtCreate":1622600208113,"gmtModify":1634100048259,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Arghhhh","listText":"Arghhhh","text":"Arghhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/113173691","repostId":"1162348975","repostType":4,"repost":{"id":"1162348975","kind":"news","pubTimestamp":1622553601,"share":"https://www.laohu8.com/m/news/1162348975?lang=zh_CN&edition=full","pubTime":"2021-06-01 21:20","market":"us","language":"en","title":"Amazon Stock: Turning $100 Per Month Into $2.7 Million<blockquote>亚马逊股票：每月100美元变成270万美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162348975","media":"TheStreet","summary":"Methodical investing over a multi-decade period trumps obsession over timing a trade right. This has","content":"<p>Methodical investing over a multi-decade period trumps obsession over timing a trade right. This has certainly been the case of Amazon stock.</p><p><blockquote>几十年来有条不紊的投资胜过对交易时机的痴迷。亚马逊股票的情况确实如此。</blockquote></p><p> Amazon is one of the most cited cases of overwhelming success in Corporate America in the past couple of decades. While few could have foreseen the story unfold early enough to invest in Amazon stock at or near the IPO (i.e. perfect timing), methodically investing in&nbsp;<b>AMZN</b>&nbsp;shares over time would have actually been the ultimate “grand master” strategy.</p><p><blockquote>在过去的几十年里，亚马逊是美国企业界被引用最多的巨大成功案例之一。虽然很少有人能预见到故事的展开，以至于在IPO时或临近IPO时投资亚马逊股票（即完美的时机），但有条不紊地投资于<b>AMZN</b>随着时间的推移，股票实际上是最终的“大师”策略。</blockquote></p><p> Today, the Amazon Maven asks a question and analyzes the results: how would an investor have fared since 1997, not if he or she had bought AMZN once at the IPO price, but if he or she had added $100 to the Amazon stock position each month?</p><p><blockquote>今天，亚马逊专家提出了一个问题并分析了结果：自1997年以来，投资者的表现会如何，不是如果他或她以IPO价格购买了亚马逊一次，而是如果他或她在亚马逊股票头寸上增加了100美元每个月？</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4dc9d56a475dc4df89474cd8239d436d\" tg-width=\"1240\" tg-height=\"824\"><span>Figure 1: Amazon's spheres, in Seattle, WA.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：华盛顿州西雅图的亚马逊球体。</span></p></blockquote></p><p> <b>Amazon stock: building wealth slowly</b></p><p><blockquote><b>亚马逊股票：慢慢积累财富</b></blockquote></p><p> There is nothing overly exciting about a methodical investment strategy whose goal is to grow capital slowly over a long period. Much of the fun chatter among investors tends to revolve around&nbsp;well-timed entries and exits. But in my opinion, the former is what is most important in successful investing.</p><p><blockquote>目标是长期缓慢增长资本的有条不紊的投资策略并没有什么令人兴奋的。投资者之间的许多有趣的讨论往往围绕着适时的进入和退出。但在我看来，前者才是成功投资最重要的。</blockquote></p><p> The chart below shows the value of a simple portfolio invested 100% in Amazon stock since the 1997 IPO. This hypothetical portfolio would have been “fed” $100 worth of AMZN each month and left untouched until today.</p><p><blockquote>下图显示了自1997年IPO以来100%投资于亚马逊股票的简单投资组合的价值。这个假设的投资组合每月将被“注入”价值100美元的AMZN，并且直到今天都没有受到影响。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fab6ca11f89cc39395131d564b6773dd\" tg-width=\"725\" tg-height=\"423\"><span>Figure 2: 100$ per month in AMZN since IPO.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：自IPO以来AMZN每月100美元。</span></p></blockquote></p><p> A couple of things stand out to me, maybe to the reader as well:</p><p><blockquote>有几件事对我来说很突出，也许对读者来说也是如此：</blockquote></p><p> <ol>  <li>A monthly investment of $100 per month (call it “a cup of coffee per day”) over nearly 25 years seems small to generate substantial wealth that would have been worth a whopping&nbsp;<b>$2.78 million</b>&nbsp;now.</li>  <li>The portfolio would have been noticeably large only after several years of the strategy being in place, due to the power of compounded gains over time. It seems that patience is a virtue that pays off not in months, but in many years or even decades.</li>  <li>Through recessions and bubble bursts, the portfolio’s value would have climbed relentlessly, with only a few bumps along the way. At play here is the fact that, through periodic investments, an investor can take advantage of Amazon stock price dips by buying cheaper.</li> </ol> Regarding the first point above, it is interesting to note that the overwhelming majority of the hypothetical portfolio’s value today would have come from gains, not from capital invested. The following graph breaks down how much each variable would have contributed to the $2.78 million balance.</p><p><blockquote><ol><li>在近25年的时间里，每月100美元的投资（看涨期权称之为“每天一杯咖啡”）似乎很小，无法产生价值巨大的巨额财富<b>278万美元</b>现在。</li><li>由于随着时间的推移复利的力量，只有在该策略实施几年后，投资组合才会明显变大。看来，耐心是一种美德，它不是在几个月内，而是在许多年甚至几十年内得到回报。</li><li>在经济衰退和泡沫破裂期间，投资组合的价值会无情地攀升，只是一路上遇到了一些坎坷。这里起作用的事实是，通过定期投资，投资者可以利用亚马逊股价下跌的机会购买更便宜的股票。</li></ol>关于上面的第一点，有趣的是，今天假设投资组合的绝大多数价值将来自收益，而不是投资资本。下图细分了每个变量对278万美元余额的贡献。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d63cc3273bf9d6de075aefb7e0836c6\" tg-width=\"715\" tg-height=\"419\"><span>Figure 3: Capital vs. gains: $100 per month since AMZN's IPO.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：资本与收益：自AMZN IPO以来每月100美元。</span></p></blockquote></p><p> On the third bullet point, notice how methodical investing smooths out the undesirable effects of buying at a peak, given enough time. The following chart depicts $100 monthly investments since the very peak of the dot-com bubble for Amazon stock, in March 1999.</p><p><blockquote>关于第三个要点，请注意，如果有足够的时间，有条不紊的投资如何消除在高峰买入的不良影响。下图描绘了自1999年3月互联网泡沫达到顶峰以来，亚马逊股票每月100美元的投资。</blockquote></p><p> In other words: even terrible timing would have still led a continuous automatic investment in AMZN to grow to $1.4 million in the past 22 years. Not bad at all.</p><p><blockquote>换句话说：即使是糟糕的时机，在过去22年里，对AMZN的持续自动投资仍会增长到140万美元。一点也不差。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2cb52fb4288263831803b59736d042b4\" tg-width=\"721\" tg-height=\"419\"><span>Figure 4: $100 per month in MAZN since peak bubble.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图4：自泡沫顶峰以来，MAZN每月100美元。</span></p></blockquote></p><p> <b>The Amazon Maven’s take</b></p><p><blockquote><b>亚马逊专家的看法</b></blockquote></p><p> To say that one should have started to invest $100 per month in AMZN at the IPO is pointless now. But I still believe that the exercise above teaches at least one lesson in methodical and patient investing, compared to obsession over timing a trade right and holding it for a short period.</p><p><blockquote>现在说人们应该在IPO时开始每月向AMZN投资100美元是毫无意义的。但我仍然相信，与痴迷于把握交易时机并短期持有相比，上面的练习至少给我们上了一堂有条不紊、耐心投资的课。</blockquote></p><p> I am skeptical that a $100-per-month investment in Amazon stock starting today will lead to multi-million-dollar balances in 20-25 years. But in my view, using a similar strategy, whether with AMZN or shares of higher-growth companies, is one of the best ways to accumulate wealth in the long haul.</p><p><blockquote>我怀疑从今天开始每月100美元投资亚马逊股票是否会在20-25年内带来数百万美元的余额。但在我看来，使用类似的策略，无论是亚马逊还是高增长公司的股票，都是长期积累财富的最佳方式之一。</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 Stock: Turning $100 Per Month Into $2.7 Million<blockquote>亚马逊股票：每月100美元变成270万美元</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 Stock: Turning $100 Per Month Into $2.7 Million<blockquote>亚马逊股票：每月100美元变成270万美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-06-01 21:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Methodical investing over a multi-decade period trumps obsession over timing a trade right. This has certainly been the case of Amazon stock.</p><p><blockquote>几十年来有条不紊的投资胜过对交易时机的痴迷。亚马逊股票的情况确实如此。</blockquote></p><p> Amazon is one of the most cited cases of overwhelming success in Corporate America in the past couple of decades. While few could have foreseen the story unfold early enough to invest in Amazon stock at or near the IPO (i.e. perfect timing), methodically investing in&nbsp;<b>AMZN</b>&nbsp;shares over time would have actually been the ultimate “grand master” strategy.</p><p><blockquote>在过去的几十年里，亚马逊是美国企业界被引用最多的巨大成功案例之一。虽然很少有人能预见到故事的展开，以至于在IPO时或临近IPO时投资亚马逊股票（即完美的时机），但有条不紊地投资于<b>AMZN</b>随着时间的推移，股票实际上是最终的“大师”策略。</blockquote></p><p> Today, the Amazon Maven asks a question and analyzes the results: how would an investor have fared since 1997, not if he or she had bought AMZN once at the IPO price, but if he or she had added $100 to the Amazon stock position each month?</p><p><blockquote>今天，亚马逊专家提出了一个问题并分析了结果：自1997年以来，投资者的表现会如何，不是如果他或她以IPO价格购买了亚马逊一次，而是如果他或她在亚马逊股票头寸上增加了100美元每个月？</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4dc9d56a475dc4df89474cd8239d436d\" tg-width=\"1240\" tg-height=\"824\"><span>Figure 1: Amazon's spheres, in Seattle, WA.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：华盛顿州西雅图的亚马逊球体。</span></p></blockquote></p><p> <b>Amazon stock: building wealth slowly</b></p><p><blockquote><b>亚马逊股票：慢慢积累财富</b></blockquote></p><p> There is nothing overly exciting about a methodical investment strategy whose goal is to grow capital slowly over a long period. Much of the fun chatter among investors tends to revolve around&nbsp;well-timed entries and exits. But in my opinion, the former is what is most important in successful investing.</p><p><blockquote>目标是长期缓慢增长资本的有条不紊的投资策略并没有什么令人兴奋的。投资者之间的许多有趣的讨论往往围绕着适时的进入和退出。但在我看来，前者才是成功投资最重要的。</blockquote></p><p> The chart below shows the value of a simple portfolio invested 100% in Amazon stock since the 1997 IPO. This hypothetical portfolio would have been “fed” $100 worth of AMZN each month and left untouched until today.</p><p><blockquote>下图显示了自1997年IPO以来100%投资于亚马逊股票的简单投资组合的价值。这个假设的投资组合每月将被“注入”价值100美元的AMZN，并且直到今天都没有受到影响。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fab6ca11f89cc39395131d564b6773dd\" tg-width=\"725\" tg-height=\"423\"><span>Figure 2: 100$ per month in AMZN since IPO.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：自IPO以来AMZN每月100美元。</span></p></blockquote></p><p> A couple of things stand out to me, maybe to the reader as well:</p><p><blockquote>有几件事对我来说很突出，也许对读者来说也是如此：</blockquote></p><p> <ol>  <li>A monthly investment of $100 per month (call it “a cup of coffee per day”) over nearly 25 years seems small to generate substantial wealth that would have been worth a whopping&nbsp;<b>$2.78 million</b>&nbsp;now.</li>  <li>The portfolio would have been noticeably large only after several years of the strategy being in place, due to the power of compounded gains over time. It seems that patience is a virtue that pays off not in months, but in many years or even decades.</li>  <li>Through recessions and bubble bursts, the portfolio’s value would have climbed relentlessly, with only a few bumps along the way. At play here is the fact that, through periodic investments, an investor can take advantage of Amazon stock price dips by buying cheaper.</li> </ol> Regarding the first point above, it is interesting to note that the overwhelming majority of the hypothetical portfolio’s value today would have come from gains, not from capital invested. The following graph breaks down how much each variable would have contributed to the $2.78 million balance.</p><p><blockquote><ol><li>在近25年的时间里，每月100美元的投资（看涨期权称之为“每天一杯咖啡”）似乎很小，无法产生价值巨大的巨额财富<b>278万美元</b>现在。</li><li>由于随着时间的推移复利的力量，只有在该策略实施几年后，投资组合才会明显变大。看来，耐心是一种美德，它不是在几个月内，而是在许多年甚至几十年内得到回报。</li><li>在经济衰退和泡沫破裂期间，投资组合的价值会无情地攀升，只是一路上遇到了一些坎坷。这里起作用的事实是，通过定期投资，投资者可以利用亚马逊股价下跌的机会购买更便宜的股票。</li></ol>关于上面的第一点，有趣的是，今天假设投资组合的绝大多数价值将来自收益，而不是投资资本。下图细分了每个变量对278万美元余额的贡献。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d63cc3273bf9d6de075aefb7e0836c6\" tg-width=\"715\" tg-height=\"419\"><span>Figure 3: Capital vs. gains: $100 per month since AMZN's IPO.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：资本与收益：自AMZN IPO以来每月100美元。</span></p></blockquote></p><p> On the third bullet point, notice how methodical investing smooths out the undesirable effects of buying at a peak, given enough time. The following chart depicts $100 monthly investments since the very peak of the dot-com bubble for Amazon stock, in March 1999.</p><p><blockquote>关于第三个要点，请注意，如果有足够的时间，有条不紊的投资如何消除在高峰买入的不良影响。下图描绘了自1999年3月互联网泡沫达到顶峰以来，亚马逊股票每月100美元的投资。</blockquote></p><p> In other words: even terrible timing would have still led a continuous automatic investment in AMZN to grow to $1.4 million in the past 22 years. Not bad at all.</p><p><blockquote>换句话说：即使是糟糕的时机，在过去22年里，对AMZN的持续自动投资仍会增长到140万美元。一点也不差。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2cb52fb4288263831803b59736d042b4\" tg-width=\"721\" tg-height=\"419\"><span>Figure 4: $100 per month in MAZN since peak bubble.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图4：自泡沫顶峰以来，MAZN每月100美元。</span></p></blockquote></p><p> <b>The Amazon Maven’s take</b></p><p><blockquote><b>亚马逊专家的看法</b></blockquote></p><p> To say that one should have started to invest $100 per month in AMZN at the IPO is pointless now. But I still believe that the exercise above teaches at least one lesson in methodical and patient investing, compared to obsession over timing a trade right and holding it for a short period.</p><p><blockquote>现在说人们应该在IPO时开始每月向AMZN投资100美元是毫无意义的。但我仍然相信，与痴迷于把握交易时机并短期持有相比，上面的练习至少给我们上了一堂有条不紊、耐心投资的课。</blockquote></p><p> I am skeptical that a $100-per-month investment in Amazon stock starting today will lead to multi-million-dollar balances in 20-25 years. But in my view, using a similar strategy, whether with AMZN or shares of higher-growth companies, is one of the best ways to accumulate wealth in the long haul.</p><p><blockquote>我怀疑从今天开始每月100美元投资亚马逊股票是否会在20-25年内带来数百万美元的余额。但在我看来，使用类似的策略，无论是亚马逊还是高增长公司的股票，都是长期积累财富的最佳方式之一。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/amazon/stock/amazon-stock-turning-100-per-month-into-2-7-million\">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":{"AMZN":"亚马逊"},"source_url":"https://www.thestreet.com/amazon/stock/amazon-stock-turning-100-per-month-into-2-7-million","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162348975","content_text":"Methodical investing over a multi-decade period trumps obsession over timing a trade right. This has certainly been the case of Amazon stock.\nAmazon is one of the most cited cases of overwhelming success in Corporate America in the past couple of decades. While few could have foreseen the story unfold early enough to invest in Amazon stock at or near the IPO (i.e. perfect timing), methodically investing in AMZN shares over time would have actually been the ultimate “grand master” strategy.\nToday, the Amazon Maven asks a question and analyzes the results: how would an investor have fared since 1997, not if he or she had bought AMZN once at the IPO price, but if he or she had added $100 to the Amazon stock position each month?\nFigure 1: Amazon's spheres, in Seattle, WA.\nAmazon stock: building wealth slowly\nThere is nothing overly exciting about a methodical investment strategy whose goal is to grow capital slowly over a long period. Much of the fun chatter among investors tends to revolve around well-timed entries and exits. But in my opinion, the former is what is most important in successful investing.\nThe chart below shows the value of a simple portfolio invested 100% in Amazon stock since the 1997 IPO. This hypothetical portfolio would have been “fed” $100 worth of AMZN each month and left untouched until today.\nFigure 2: 100$ per month in AMZN since IPO.\nA couple of things stand out to me, maybe to the reader as well:\n\nA monthly investment of $100 per month (call it “a cup of coffee per day”) over nearly 25 years seems small to generate substantial wealth that would have been worth a whopping $2.78 million now.\nThe portfolio would have been noticeably large only after several years of the strategy being in place, due to the power of compounded gains over time. It seems that patience is a virtue that pays off not in months, but in many years or even decades.\nThrough recessions and bubble bursts, the portfolio’s value would have climbed relentlessly, with only a few bumps along the way. At play here is the fact that, through periodic investments, an investor can take advantage of Amazon stock price dips by buying cheaper.\n\nRegarding the first point above, it is interesting to note that the overwhelming majority of the hypothetical portfolio’s value today would have come from gains, not from capital invested. The following graph breaks down how much each variable would have contributed to the $2.78 million balance.\nFigure 3: Capital vs. gains: $100 per month since AMZN's IPO.\nOn the third bullet point, notice how methodical investing smooths out the undesirable effects of buying at a peak, given enough time. The following chart depicts $100 monthly investments since the very peak of the dot-com bubble for Amazon stock, in March 1999.\nIn other words: even terrible timing would have still led a continuous automatic investment in AMZN to grow to $1.4 million in the past 22 years. Not bad at all.\nFigure 4: $100 per month in MAZN since peak bubble.\nThe Amazon Maven’s take\nTo say that one should have started to invest $100 per month in AMZN at the IPO is pointless now. But I still believe that the exercise above teaches at least one lesson in methodical and patient investing, compared to obsession over timing a trade right and holding it for a short period.\nI am skeptical that a $100-per-month investment in Amazon stock starting today will lead to multi-million-dollar balances in 20-25 years. But in my view, using a similar strategy, whether with AMZN or shares of higher-growth companies, is one of the best ways to accumulate wealth in the long haul.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119687689,"gmtCreate":1622542564241,"gmtModify":1634100663709,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Look out for it","listText":"Look out for it","text":"Look out for it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/119687689","repostId":"1143634909","repostType":4,"isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119870905,"gmtCreate":1622537886707,"gmtModify":1631883959656,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Zoom heading to doom?","listText":"Zoom heading to doom?","text":"Zoom heading to doom?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/119870905","repostId":"1136963716","repostType":4,"isVote":1,"tweetType":1,"viewCount":573,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110232436,"gmtCreate":1622457783925,"gmtModify":1634101349776,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Too late to correct&nbsp;","listText":"Too late to correct&nbsp;","text":"Too late to correct","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/110232436","repostId":"1198461252","repostType":4,"isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836905005,"gmtCreate":1629443581907,"gmtModify":1631888804970,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Tesla the way to go now","listText":"Tesla the way to go now","text":"Tesla the way to go now","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836905005","repostId":"1190786418","repostType":4,"isVote":1,"tweetType":1,"viewCount":2186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124781668,"gmtCreate":1624792502754,"gmtModify":1631888805053,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Go for it!!","listText":"Go for it!!","text":"Go for it!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124781668","repostId":"1140044383","repostType":4,"isVote":1,"tweetType":1,"viewCount":5099,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117587137,"gmtCreate":1623151498129,"gmtModify":1634036427517,"author":{"id":"3581711420498497","authorId":"3581711420498497","name":"Jomum","avatar":"https://static.tigerbbs.com/4f76fac17668e3f2183dc6576449da0a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581711420498497","authorIdStr":"3581711420498497"},"themes":[],"htmlText":"Apple I like&nbsp;","listText":"Apple I like&nbsp;","text":"Apple I like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/117587137","repostId":"1191020585","repostType":4,"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}