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2021-06-30

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Buffett and Munger Talk Zoom, Robinhood, and Lessons From the Pandemic<blockquote>巴菲特和芒格谈论 Zoom、Robinhood 和大流行的教训</blockquote>

2021-06-19

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2021-06-07

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2021-06-06

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U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>

2021-06-26

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2021-06-08

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2021-05-18

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2021-06-24

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2021-06-01

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Here Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的 11 家 IPO</blockquote>

2021-05-25

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let’s go","listText":"yes let’s go","text":"yes let’s go","images":[{"img":"https://static.tigerbbs.com/84f3eec22de2b78c22a8c3e40fc9ec1e","width":"1125","height":"3266"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690604992","isVote":1,"tweetType":1,"viewCount":3175,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":605337966,"gmtCreate":1639111554229,"gmtModify":1639112148168,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"dumb article","listText":"dumb article","text":"dumb article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/605337966","repostId":"1173696854","repostType":2,"repost":{"id":"1173696854","kind":"news","pubTimestamp":1639100666,"share":"https://www.laohunote.com/m/news/1173696854?lang=zh_CN&edition=full","pubTime":"2021-12-10 09:44","market":"us","language":"en","title":"The next recession: Here’s when the ‘everything bubble’ will burst<blockquote>下一次经济衰退： “万物泡沫 ”何时破裂</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173696854","media":"Fortune","summary":"In October 20XX. That’s not a typo. To reach the best guesstimate of when the next recession will be","content":"<p>In October 20XX. That’s not a typo. To reach the best guesstimate of when the next recession will begin, we need to understand how the Federal Reserve creates unsustainable booms and why the next bust may be just around the corner.</p><p><blockquote>20XX年10月。这不是错别字。为了对下一次衰退何时开始做出最佳猜测，我们需要了解美联储如何制造不可持续的繁荣，以及为什么下一次衰退可能即将到来。</blockquote></p><p> A caveat is in order. As physicist Niels Bohr exclaimed, “Prediction is very difficult, especially if it’s about the future.” Nevertheless, I will weigh in fearlessly with my 10 cents. The Fed’s inflationary policies have increased my two cents fivefold. Maybe the next cryptocurrency is on the horizon: My 10 Cents.</p><p><blockquote>需要一个警告。正如物理学家尼尔斯-玻尔（Niels Bohr）所说：“预测是非常困难的，尤其是在预测未来的时候。”尽管如此，我会无所畏惧地用我的10美分称重。美联储的通货膨胀政策让我的两美分增加了五倍。也许下一个加密货币就在地平线上：我的10美分。</blockquote></p><p> If a dog can have a crypto, why can’t a retired finance professor who&nbsp;warned the public&nbsp;that prices were about to accelerate due to the Fed’s inflationary policies in the spring of 1976 have one?</p><p><blockquote>如果狗可以拥有加密货币，为什么一位退休的金融学教授不能拥有加密货币呢？他曾在 1976 年春天警告公众，由于美联储的通胀政策，物价即将加速上涨。</blockquote></p><p> Consumerprices rose5.7% in 1976, 6.5% in 1977, 7.6% in 1978, 11.3% in 1979 and 13.5% in 1980. Talk about being right on the money!</p><p><blockquote>1976年消费价格上涨5.7%，1977年6.5%，1978年7.6%，1979年11.3%，1980年13.5%。谈论金钱上的正确!</blockquote></p><p> As inflation was galloping throughout his presidency, then President Jimmy Carter appointed Paul Volcker, a former banker and U.S. Treasury official, in 1979 to halt the multiyear price spiral. Volcker succeeded spectacularly. Consumer prices rose 10.3% in 1981, revealing how inflation momentum can continue for a while before the Fed’s tight money policies slay the inflation dragon. In 1982, prices rose 6.1%, 3.2% in 1983, and (miracle of miracles) only 1.9% in 1986, a year before Volcker stepped down as Fed chairman and was replaced by Alan Greenspan.</p><p><blockquote>由于通货膨胀在他的总统任期内飙升，时任总统吉米·卡特于 1979 年任命前银行家兼美国财政部官员保罗·沃尔克 (Paul Volcker) 来阻止多年来的物价螺旋上升。沃尔克取得了惊人的成功。1981 年消费者价格上涨了 10.3%，这表明在美联储的紧缩货币政策杀死通胀巨龙之前，通胀势头可能会持续一段时间。1982 年，物价上涨了 6.1%，1983 年上涨了 3.2%，而（奇迹中的奇迹）1986 年（沃尔克卸任美联储主席并由艾伦·格林斯潘接任的前一年）仅上涨了 1.9%。</blockquote></p><p> To accomplish what was considered at the time improbable due to high inflation expectations, the Volcker-led Fed&nbsp;raised the Fed Funds Rate–the rate banks borrow from each other for overnight loans–to 22% by December 1980. The cost of Volcker’s tight monetary policies necessary to halt the dollar’s slide was back-to-back recessions: a short downturn 1980 and then another one, 1981-1982. A case can be made that one long recession occurred that in effect lasted three years, from January 1980 to November 1982.</p><p><blockquote>为了实现由于高通胀预期而当时被认为不可能实现的目标，沃尔克领导的美联储在1980年12月之前将联邦基金利率（银行相互借入隔夜贷款的利率）提高到了22%。沃尔克为阻止美元下滑而采取的紧缩货币政策的代价是接二连三的衰退： 1980 年是短暂的衰退，1981-1982 年又是短暂的衰退。一个例子是，从1980年1月到1982年11月，发生了一次实际上持续了三年的长期衰退。</blockquote></p><p> <b>Pinpointing the moment</b></p><p><blockquote><b>精确定位时刻</b></blockquote></p><p> One of the best leading indicators of a cyclical downturn is the unemployment rate, which reached a cyclical bottom in May 1979 (5.6%) several months before the 1980 recession and didn’t peak until November 1982 (10.8%). The unemployment rate declined until the next upturn in layoffs began to accelerate in 1990.</p><p><blockquote>失业率是周期性衰退的最佳先行指标之一，失业率在 1979 年 5 月达到周期性底部（5.6%），比 1980 年经济衰退早几个月，直到 1982 年 11 月（10.8%）才达到顶峰。失业率一直下降，直到1990年下一次裁员开始加速。</blockquote></p><p> Currently,<b>the unemployment rate</b>&nbsp;has been declining from the lockdown peak of early 2020 and has reached levels that historically have signaled the beginning of the end of a cyclical boom. Lockdowns have undoubtedly distorted the unemployment rate, but the&nbsp;historical pattern&nbsp;reveals that when the unemployment rate nears three percent and then turns up, a recession will soon begin.</p><p><blockquote>目前，<b>失业率</b>已从 2020 年初的封锁峰值开始下降，并已达到历史上预示着周期性繁荣结束的水平。封锁无疑扭曲了失业率，但历史模式表明，当失业率接近3%然后上升时，衰退将很快开始。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/746377b702eacfdfaa019222f8161b85\" tg-width=\"705\" tg-height=\"272\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>The yield curve</b>&nbsp;is one of the most widely followed financial indicators that portend a recession usually within a year. The yield curve reveals the relationship between short-term and long-term interest rates. Typically, the yield curve is upward sloping, like today, when short-term rates are below long-term rates, reflecting a substantial amount of liquidity in the financial markets.</p><p><blockquote><b>收益率曲线</b>是最广泛遵循的财务指标之一，通常预示着一年内的经济衰退。收益率曲线揭示了短期利率和长期利率之间的关系。通常情况下，收益率曲线是向上倾斜的，就像今天一样，当短期利率低于长期利率时，反映了金融市场中大量的流动性。</blockquote></p><p> When the Fed becomes concerned that the economy is “overheating,” it tends to raise the Fed Funds Rate to cool down price inflation, which occurred prior to the bursting of both the 2000 dotcom bubble and the 2007 housing bubble. The yield curve was&nbsp;virtually inverted&nbsp;at the end of 2019, suggesting that a recession would begin sometime in 2020. However, the lockdowns in response to COVID-19 caused an economic downturn in early 2020, not a typical cyclical recession.</p><p><blockquote>当美联储担心经济 “过热 ”时，它往往会提高联邦基金利率，以冷却物价通胀，而物价通胀发生在 2000 年互联网泡沫和 2007 年房地产泡沫破裂之前。收益率曲线在2019年底几乎倒挂，这表明衰退将在2020年的某个时候开始。然而，应对新冠肺炎的封锁导致了2020年初的经济衰退，而不是典型的周期性衰退。</blockquote></p><p> Now the economy is in another cyclical upswing because the Federal Reservein&nbsp;jected $4 trillion&nbsp;of liquidity to “simulate” the economy. At the most recent meeting of the Federal Open Market Committee (FOMC), it was decided to reduce monthly purchases from $120 billion to $105 billion. In other words, the Fed will continue to have its foot on the monetary pedal even as the inflation rate recently topped 6% year over year. In the past accelerating inflation would set off alarm bells at the Fed to raise interest rates to dampen inflationary pressure and expectations. Currently, the thinking at the Fed is that price inflation is “transitory” and therefore monetary policy does not have to be tightened.</p><p><blockquote>现在，由于美联储注入了 4 万亿美元的流动性来 “模拟 ”经济，经济又处于周期性上升期。在联邦公开市场委员会（FOMC）最近一次会议上，决定将每月购买量从1200亿美元减少到1050亿美元。换句话说，即使通胀率最近同比突破6%，美联储仍将继续踩下货币踏板。过去，通胀加速会敲响美联储加息以抑制通胀压力和预期的警钟。目前，美联储的想法是，物价通胀是 “暂时的”，因此不必收紧货币政策。</blockquote></p><p></p><p> My fearless forecast, therefore, is: Inflation accelerates in 2022. Then, the public outcry over skyrocketing prices and the media reports highlighting how prices are decimating the average family’s purchasing power may cause the Biden administration to impose wage-price controls as President Nixon did in 1971 to take the sting out of inflation before his 1972 reelection campaign. Biden could use an executive order if Congress doesn’t give him statutory authority to impose price controls.</p><p><blockquote>因此，我无畏的预测是：2022 年通胀将加速。然后，公众对物价飞涨的强烈抗议和媒体报道强调物价如何削弱普通家庭的购买力，这可能会导致拜登政府像尼克松总统在 1971 年那样，在 1972 年竞选连任之前实施工资价格控制，以消除通货膨胀的困扰。如果国会不授予拜登实施价格控制的法定权力，拜登可以使用行政命令。</blockquote></p><p> Without price controls, I expect the Fed to raise the Fed Funds Rate, sometime in 2022 and to continue tightening in 2023. Thus, the next recession could begin in the fall of 2023, but no later than a year later. If the recession does not begin on schedule, it only means it has been postponed, not eliminated.</p><p><blockquote>如果没有价格控制，我预计美联储将在 2022 年的某个时候提高联邦基金利率，并在 2023 年继续收紧。因此，下一次衰退可能会在 2023 年秋季开始，但不会晚于一年。如果衰退没有如期开始，那只意味着它被推迟了，而不是被消除了。</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The next recession: Here’s when the ‘everything bubble’ will burst<blockquote>下一次经济衰退： “万物泡沫 ”何时破裂</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 next recession: Here’s when the ‘everything bubble’ will burst<blockquote>下一次经济衰退： “万物泡沫 ”何时破裂</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Fortune</strong><span class=\"h-time small\">2021-12-10 09:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In October 20XX. That’s not a typo. To reach the best guesstimate of when the next recession will begin, we need to understand how the Federal Reserve creates unsustainable booms and why the next bust may be just around the corner.</p><p><blockquote>20XX年10月。这不是错别字。为了对下一次衰退何时开始做出最佳猜测，我们需要了解美联储如何制造不可持续的繁荣，以及为什么下一次衰退可能即将到来。</blockquote></p><p> A caveat is in order. As physicist Niels Bohr exclaimed, “Prediction is very difficult, especially if it’s about the future.” Nevertheless, I will weigh in fearlessly with my 10 cents. The Fed’s inflationary policies have increased my two cents fivefold. Maybe the next cryptocurrency is on the horizon: My 10 Cents.</p><p><blockquote>需要一个警告。正如物理学家尼尔斯-玻尔（Niels Bohr）所说：“预测是非常困难的，尤其是在预测未来的时候。”尽管如此，我会无所畏惧地用我的10美分称重。美联储的通货膨胀政策让我的两美分增加了五倍。也许下一个加密货币就在地平线上：我的10美分。</blockquote></p><p> If a dog can have a crypto, why can’t a retired finance professor who&nbsp;warned the public&nbsp;that prices were about to accelerate due to the Fed’s inflationary policies in the spring of 1976 have one?</p><p><blockquote>如果狗可以拥有加密货币，为什么一位退休的金融学教授不能拥有加密货币呢？他曾在 1976 年春天警告公众，由于美联储的通胀政策，物价即将加速上涨。</blockquote></p><p> Consumerprices rose5.7% in 1976, 6.5% in 1977, 7.6% in 1978, 11.3% in 1979 and 13.5% in 1980. Talk about being right on the money!</p><p><blockquote>1976年消费价格上涨5.7%，1977年6.5%，1978年7.6%，1979年11.3%，1980年13.5%。谈论金钱上的正确!</blockquote></p><p> As inflation was galloping throughout his presidency, then President Jimmy Carter appointed Paul Volcker, a former banker and U.S. Treasury official, in 1979 to halt the multiyear price spiral. Volcker succeeded spectacularly. Consumer prices rose 10.3% in 1981, revealing how inflation momentum can continue for a while before the Fed’s tight money policies slay the inflation dragon. In 1982, prices rose 6.1%, 3.2% in 1983, and (miracle of miracles) only 1.9% in 1986, a year before Volcker stepped down as Fed chairman and was replaced by Alan Greenspan.</p><p><blockquote>由于通货膨胀在他的总统任期内飙升，时任总统吉米·卡特于 1979 年任命前银行家兼美国财政部官员保罗·沃尔克 (Paul Volcker) 来阻止多年来的物价螺旋上升。沃尔克取得了惊人的成功。1981 年消费者价格上涨了 10.3%，这表明在美联储的紧缩货币政策杀死通胀巨龙之前，通胀势头可能会持续一段时间。1982 年，物价上涨了 6.1%，1983 年上涨了 3.2%，而（奇迹中的奇迹）1986 年（沃尔克卸任美联储主席并由艾伦·格林斯潘接任的前一年）仅上涨了 1.9%。</blockquote></p><p> To accomplish what was considered at the time improbable due to high inflation expectations, the Volcker-led Fed&nbsp;raised the Fed Funds Rate–the rate banks borrow from each other for overnight loans–to 22% by December 1980. The cost of Volcker’s tight monetary policies necessary to halt the dollar’s slide was back-to-back recessions: a short downturn 1980 and then another one, 1981-1982. A case can be made that one long recession occurred that in effect lasted three years, from January 1980 to November 1982.</p><p><blockquote>为了实现由于高通胀预期而当时被认为不可能实现的目标，沃尔克领导的美联储在1980年12月之前将联邦基金利率（银行相互借入隔夜贷款的利率）提高到了22%。沃尔克为阻止美元下滑而采取的紧缩货币政策的代价是接二连三的衰退： 1980 年是短暂的衰退，1981-1982 年又是短暂的衰退。一个例子是，从1980年1月到1982年11月，发生了一次实际上持续了三年的长期衰退。</blockquote></p><p> <b>Pinpointing the moment</b></p><p><blockquote><b>精确定位时刻</b></blockquote></p><p> One of the best leading indicators of a cyclical downturn is the unemployment rate, which reached a cyclical bottom in May 1979 (5.6%) several months before the 1980 recession and didn’t peak until November 1982 (10.8%). The unemployment rate declined until the next upturn in layoffs began to accelerate in 1990.</p><p><blockquote>失业率是周期性衰退的最佳先行指标之一，失业率在 1979 年 5 月达到周期性底部（5.6%），比 1980 年经济衰退早几个月，直到 1982 年 11 月（10.8%）才达到顶峰。失业率一直下降，直到1990年下一次裁员开始加速。</blockquote></p><p> Currently,<b>the unemployment rate</b>&nbsp;has been declining from the lockdown peak of early 2020 and has reached levels that historically have signaled the beginning of the end of a cyclical boom. Lockdowns have undoubtedly distorted the unemployment rate, but the&nbsp;historical pattern&nbsp;reveals that when the unemployment rate nears three percent and then turns up, a recession will soon begin.</p><p><blockquote>目前，<b>失业率</b>已从 2020 年初的封锁峰值开始下降，并已达到历史上预示着周期性繁荣结束的水平。封锁无疑扭曲了失业率，但历史模式表明，当失业率接近3%然后上升时，衰退将很快开始。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/746377b702eacfdfaa019222f8161b85\" tg-width=\"705\" tg-height=\"272\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>The yield curve</b>&nbsp;is one of the most widely followed financial indicators that portend a recession usually within a year. The yield curve reveals the relationship between short-term and long-term interest rates. Typically, the yield curve is upward sloping, like today, when short-term rates are below long-term rates, reflecting a substantial amount of liquidity in the financial markets.</p><p><blockquote><b>收益率曲线</b>是最广泛遵循的财务指标之一，通常预示着一年内的经济衰退。收益率曲线揭示了短期利率和长期利率之间的关系。通常情况下，收益率曲线是向上倾斜的，就像今天一样，当短期利率低于长期利率时，反映了金融市场中大量的流动性。</blockquote></p><p> When the Fed becomes concerned that the economy is “overheating,” it tends to raise the Fed Funds Rate to cool down price inflation, which occurred prior to the bursting of both the 2000 dotcom bubble and the 2007 housing bubble. The yield curve was&nbsp;virtually inverted&nbsp;at the end of 2019, suggesting that a recession would begin sometime in 2020. However, the lockdowns in response to COVID-19 caused an economic downturn in early 2020, not a typical cyclical recession.</p><p><blockquote>当美联储担心经济 “过热 ”时，它往往会提高联邦基金利率，以冷却物价通胀，而物价通胀发生在 2000 年互联网泡沫和 2007 年房地产泡沫破裂之前。收益率曲线在2019年底几乎倒挂，这表明衰退将在2020年的某个时候开始。然而，应对新冠肺炎的封锁导致了2020年初的经济衰退，而不是典型的周期性衰退。</blockquote></p><p> Now the economy is in another cyclical upswing because the Federal Reservein&nbsp;jected $4 trillion&nbsp;of liquidity to “simulate” the economy. At the most recent meeting of the Federal Open Market Committee (FOMC), it was decided to reduce monthly purchases from $120 billion to $105 billion. In other words, the Fed will continue to have its foot on the monetary pedal even as the inflation rate recently topped 6% year over year. In the past accelerating inflation would set off alarm bells at the Fed to raise interest rates to dampen inflationary pressure and expectations. Currently, the thinking at the Fed is that price inflation is “transitory” and therefore monetary policy does not have to be tightened.</p><p><blockquote>现在，由于美联储注入了 4 万亿美元的流动性来 “模拟 ”经济，经济又处于周期性上升期。在联邦公开市场委员会（FOMC）最近一次会议上，决定将每月购买量从1200亿美元减少到1050亿美元。换句话说，即使通胀率最近同比突破6%，美联储仍将继续踩下货币踏板。过去，通胀加速会敲响美联储加息以抑制通胀压力和预期的警钟。目前，美联储的想法是，物价通胀是 “暂时的”，因此不必收紧货币政策。</blockquote></p><p></p><p> My fearless forecast, therefore, is: Inflation accelerates in 2022. Then, the public outcry over skyrocketing prices and the media reports highlighting how prices are decimating the average family’s purchasing power may cause the Biden administration to impose wage-price controls as President Nixon did in 1971 to take the sting out of inflation before his 1972 reelection campaign. Biden could use an executive order if Congress doesn’t give him statutory authority to impose price controls.</p><p><blockquote>因此，我无畏的预测是：2022 年通胀将加速。然后，公众对物价飞涨的强烈抗议和媒体报道强调物价如何削弱普通家庭的购买力，这可能会导致拜登政府像尼克松总统在 1971 年那样，在 1972 年竞选连任之前实施工资价格控制，以消除通货膨胀的困扰。如果国会不授予拜登实施价格控制的法定权力，拜登可以使用行政命令。</blockquote></p><p> Without price controls, I expect the Fed to raise the Fed Funds Rate, sometime in 2022 and to continue tightening in 2023. Thus, the next recession could begin in the fall of 2023, but no later than a year later. If the recession does not begin on schedule, it only means it has been postponed, not eliminated.</p><p><blockquote>如果没有价格控制，我预计美联储将在 2022 年的某个时候提高联邦基金利率，并在 2023 年继续收紧。因此，下一次衰退可能会在 2023 年秋季开始，但不会晚于一年。如果衰退没有如期开始，那只意味着它被推迟了，而不是被消除了。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/next-recession-everything-bubble-burst-120100109.html\">Fortune</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/next-recession-everything-bubble-burst-120100109.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173696854","content_text":"In October 20XX. That’s not a typo. To reach the best guesstimate of when the next recession will begin, we need to understand how the Federal Reserve creates unsustainable booms and why the next bust may be just around the corner.\nA caveat is in order. As physicist Niels Bohr exclaimed, “Prediction is very difficult, especially if it’s about the future.” Nevertheless, I will weigh in fearlessly with my 10 cents. The Fed’s inflationary policies have increased my two cents fivefold. Maybe the next cryptocurrency is on the horizon: My 10 Cents.\nIf a dog can have a crypto, why can’t a retired finance professor who warned the public that prices were about to accelerate due to the Fed’s inflationary policies in the spring of 1976 have one?\nConsumerprices rose5.7% in 1976, 6.5% in 1977, 7.6% in 1978, 11.3% in 1979 and 13.5% in 1980. Talk about being right on the money!\nAs inflation was galloping throughout his presidency, then President Jimmy Carter appointed Paul Volcker, a former banker and U.S. Treasury official, in 1979 to halt the multiyear price spiral. Volcker succeeded spectacularly. Consumer prices rose 10.3% in 1981, revealing how inflation momentum can continue for a while before the Fed’s tight money policies slay the inflation dragon. In 1982, prices rose 6.1%, 3.2% in 1983, and (miracle of miracles) only 1.9% in 1986, a year before Volcker stepped down as Fed chairman and was replaced by Alan Greenspan.\nTo accomplish what was considered at the time improbable due to high inflation expectations, the Volcker-led Fed raised the Fed Funds Rate–the rate banks borrow from each other for overnight loans–to 22% by December 1980. The cost of Volcker’s tight monetary policies necessary to halt the dollar’s slide was back-to-back recessions: a short downturn 1980 and then another one, 1981-1982. A case can be made that one long recession occurred that in effect lasted three years, from January 1980 to November 1982.\nPinpointing the moment\nOne of the best leading indicators of a cyclical downturn is the unemployment rate, which reached a cyclical bottom in May 1979 (5.6%) several months before the 1980 recession and didn’t peak until November 1982 (10.8%). The unemployment rate declined until the next upturn in layoffs began to accelerate in 1990.\nCurrently,the unemployment rate has been declining from the lockdown peak of early 2020 and has reached levels that historically have signaled the beginning of the end of a cyclical boom. Lockdowns have undoubtedly distorted the unemployment rate, but the historical pattern reveals that when the unemployment rate nears three percent and then turns up, a recession will soon begin.\n\nThe yield curve is one of the most widely followed financial indicators that portend a recession usually within a year. The yield curve reveals the relationship between short-term and long-term interest rates. Typically, the yield curve is upward sloping, like today, when short-term rates are below long-term rates, reflecting a substantial amount of liquidity in the financial markets.\nWhen the Fed becomes concerned that the economy is “overheating,” it tends to raise the Fed Funds Rate to cool down price inflation, which occurred prior to the bursting of both the 2000 dotcom bubble and the 2007 housing bubble. The yield curve was virtually inverted at the end of 2019, suggesting that a recession would begin sometime in 2020. However, the lockdowns in response to COVID-19 caused an economic downturn in early 2020, not a typical cyclical recession.\nNow the economy is in another cyclical upswing because the Federal Reservein jected $4 trillion of liquidity to “simulate” the economy. At the most recent meeting of the Federal Open Market Committee (FOMC), it was decided to reduce monthly purchases from $120 billion to $105 billion. In other words, the Fed will continue to have its foot on the monetary pedal even as the inflation rate recently topped 6% year over year. In the past accelerating inflation would set off alarm bells at the Fed to raise interest rates to dampen inflationary pressure and expectations. Currently, the thinking at the Fed is that price inflation is “transitory” and therefore monetary policy does not have to be tightened.\nMy fearless forecast, therefore, is: Inflation accelerates in 2022. Then, the public outcry over skyrocketing prices and the media reports highlighting how prices are decimating the average family’s purchasing power may cause the Biden administration to impose wage-price controls as President Nixon did in 1971 to take the sting out of inflation before his 1972 reelection campaign. Biden could use an executive order if Congress doesn’t give him statutory authority to impose price controls.\nWithout price controls, I expect the Fed to raise the Fed Funds Rate, sometime in 2022 and to continue tightening in 2023. Thus, the next recession could begin in the fall of 2023, but no later than a year later. If the recession does not begin on schedule, it only means it has been postponed, not eliminated.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3570,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":817764862,"gmtCreate":1630989953756,"gmtModify":1631890899801,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"ok buy all","listText":"ok buy all","text":"ok buy all","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/817764862","repostId":"2165138067","repostType":4,"isVote":1,"tweetType":1,"viewCount":2278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153450327,"gmtCreate":1625044496469,"gmtModify":1631890899804,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":37,"repostSize":0,"link":"https://laohu8.com/post/153450327","repostId":"1145186822","repostType":4,"repost":{"id":"1145186822","kind":"news","pubTimestamp":1625043845,"share":"https://www.laohunote.com/m/news/1145186822?lang=zh_CN&edition=full","pubTime":"2021-06-30 17:04","market":"us","language":"en","title":"Buffett and Munger Talk Zoom, Robinhood, and Lessons From the Pandemic<blockquote>巴菲特和芒格谈论 Zoom、Robinhood 和大流行的教训</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1145186822","media":"Barrons","summary":"Unlike his longtime friend and business partner Charlie Munger,Berkshire Hathaway CEO Warren Buffett","content":"<p>Unlike his longtime friend and business partner Charlie Munger,Berkshire Hathaway&nbsp;CEO Warren Buffett isn’t a huge fan of&nbsp;Zoom&nbsp;meetings.</p><p><blockquote>与他的老朋友兼商业伙伴查理-芒格不同，伯克希尔-哈撒韦公司首席执行官沃伦-巴菲特并不喜欢 Zoom 会议。</blockquote></p><p> “I did it once or twice, and they had a whole screen of people. I just didn’t figure it was adding to the experience,” Buffett, 90, said&nbsp;in an interview with CNBC&nbsp;that aired Tuesday. “I find the telephone a very satisfactory instrument.”</p><p><blockquote>“我做过一两次，他们有一整个屏幕上的人。90 岁的巴菲特在周二播出的 CNBC 采访中说：”我只是觉得这并没有增加体验。“我觉得电话是一种非常令人满意的工具。”</blockquote></p><p> Munger, on the other hand, uses the service three times a day. “I think Zoom is here to stay,” Munger said. “It just adds so much convenience.”</p><p><blockquote>另一方面，芒格每天使用这项服务三次。“芒格说：”我认为 Zoom 会继续存在。“这增加了很多便利。”</blockquote></p><p> “Well, particularly, if you’re 97,” Buffett quipped, referring to Munger’s age.</p><p><blockquote>“巴菲特在谈到芒格的年龄时打趣道：”尤其是如果你已经 97 岁了。</blockquote></p><p> In an interview with CNBC filmed from Munger’s backyard in Los Angeles after&nbsp;Berkshire Hathaway’s annual meeting&nbsp;in May, the pair also discussed the uneven impact of the pandemic on small businesses, their negative views of trading platform Robinhood, and the dangers of excessive margin.</p><p><blockquote>今年 5 月伯克希尔-哈撒韦公司年会结束后，在芒格位于洛杉矶的后院接受 CNBC 采访时，两人还讨论了大流行病对小企业的不均衡影响、他们对交易平台 Robinhood 的负面看法以及过高利润的危险。</blockquote></p><p> On the impact of the pandemic, Buffett said: “I don’t know how many but many hundreds of thousands or millions of small businesses have been hurt in a terrible way. But most of the big, big companies have overwhelmingly done fine unless they happen to be in cruise lines or hotels or something.”</p><p><blockquote>关于大流行病的影响，巴菲特说： “我不知道有多少，而是数十万或数百万家小企业受到了可怕的伤害。但大多数大公司都做得很好，除非它们碰巧是邮轮公司、酒店或其他行业。”</blockquote></p><p> Munger said he believes a lot of business travel, among other things, won’t come back following the pandemic. “A lot of people have found they don’t need to be [in an office]. I think all kinds of things are going to happen that we don’t go back to what we did before.”</p><p><blockquote>芒格说，他相信，除其他外，许多商务旅行不会在大流行病之后卷土重来。“很多人发现他们不需要[在办公室里]。我认为各种各样的事情都会发生，我们不会回到以前的样子。”</blockquote></p><p> “Some people did better than [the U.S.],” Munger added, referring to China’s aggressive response to the virus and subsequent recovery. “They didn’t allow any contact. You picked up your groceries in a box in the apartment and that’s all the contact you had with anybody for six weeks. And, when it was all over, they kind of went back to work. It happened they did it exactly right.”</p><p><blockquote>“芒格补充说：”有些人比（美国）做得更好，他指的是中国对病毒的积极应对以及随后的复苏。“他们不允许任何接触。你在公寓的一个盒子里拿了你的杂货，这就是你六周来与任何人的全部接触。当一切结束后，他们又回去工作了。碰巧他们做得完全正确。”</blockquote></p><p> Much of the special was biographical, with Buffett and Munger reflecting on their first meeting and how their friendship-at-first-sight evolved into a decadeslong venture&nbsp;transforming the Berkshire Hathaway textile company into one of the world’s largest conglomerates.</p><p><blockquote>巴菲特和芒格回顾了他们的初次见面，以及他们一见钟情如何发展成为长达数十年的合资企业，将伯克希尔-哈撒韦纺织公司转变为世界上最大的企业集团之一。</blockquote></p><p> Asked about Robinhood, Munger called the stock trading app “a gambling parlor masquerading as a respectable business.”</p><p><blockquote>当被问及 Robinhood 时，芒格称这款股票交易应用是 “伪装成体面企业的赌场”。</blockquote></p><p> “[Robinhood] is not encouraging people to buy a very, very, very low-cost index fund and hold it for 50 years,” Buffett said. “I will guarantee you that you will not walk in there, get that advice. Instead, you’ll get advice on how you can trade options.”</p><p><blockquote>“巴菲特说：”[Robinhood]并不鼓励人们购买非常、非常、非常低的指数基金并持有50年。“我保证你不会走进去，得到建议。相反，你会得到如何交易期权的建议”。</blockquote></p><p> Munger also suggested apps like Robinhood aren’t commission-free because the real costs—namely the process of&nbsp;payment for order flow—are hidden.</p><p><blockquote>芒格还表示，像 Robinhood 这样的应用程序不是免佣金的，因为真实的成本--即订单流的支付过程--是隐藏的。</blockquote></p><p> “It’s basically a sleazy, disreputable operation,” Munger said. “And the interesting thing about it is that some good people you would be glad to have marry into your family have backed it.”</p><p><blockquote>“芒格说：”这基本上是一次肮脏、声名狼藉的行动。“有趣的是，一些你很乐意嫁入你的家庭的好人支持它”。</blockquote></p><p> Reached for comment, a Robinhood spokesperson referred<i>Barron’s</i>to a May 3 statement from when Munger and Buffett previously criticized the app. “Robinhood has made investing simpler and more accessible to more people — and the public has responded. We are proud of that fact,” Jacqueline Ortiz Ramsay, head of public policy communications at Robinhood,wrote at the time.</p><p><blockquote>记者联系 Robinhood 发言人置评<i>巴伦</i>到 5 月 3 日芒格和巴菲特此前批评该应用程序时的声明。“Robinhood 让更多人更容易投资--公众也做出了回应。我们为此感到自豪，”Robinhood 公共政策传播主管杰奎琳-奥尔蒂斯-拉姆齐（Jacqueline Ortiz Ramsay）当时写道。</blockquote></p><p> Regarding the&nbsp;blow-up of&nbsp;hedge fund Archegos Capital that resulted in market volatility and major losses at several banks earlier this year, Munger called for more strict margin requirements.</p><p><blockquote>对于今年早些时候对冲基金Archegos Capital爆炸事件导致市场波动和几家银行重大损失，芒格呼吁更严格的保证金要求。</blockquote></p><p> “The people who are making money out of this unreasonable extension of credit argue for it, and nobody’s speaking against it,” Munger said. “And last time around, we got the correct regulation that came and stayed for a long time on margin debt only because we had the worst depression in the history of the English-speaking world. That’s what it took to get a little sense into the politicians.”</p><p><blockquote>“芒格说：”那些从这种不合理的信贷延期中赚钱的人都在为它辩护，没有人反对它。“上次，我们得到了正确的监管，因为我们经历了英语世界历史上最严重的萧条，所以对保证金债务进行了很长时间的监管。这就是政治家们获得一点理智的原因”。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett and Munger Talk Zoom, Robinhood, and Lessons From the Pandemic<blockquote>巴菲特和芒格谈论 Zoom、Robinhood 和大流行的教训</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\">\nBuffett and Munger Talk Zoom, Robinhood, and Lessons From the Pandemic<blockquote>巴菲特和芒格谈论 Zoom、Robinhood 和大流行的教训</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-30 17:04</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Unlike his longtime friend and business partner Charlie Munger,Berkshire Hathaway&nbsp;CEO Warren Buffett isn’t a huge fan of&nbsp;Zoom&nbsp;meetings.</p><p><blockquote>与他的老朋友兼商业伙伴查理-芒格不同，伯克希尔-哈撒韦公司首席执行官沃伦-巴菲特并不喜欢 Zoom 会议。</blockquote></p><p> “I did it once or twice, and they had a whole screen of people. I just didn’t figure it was adding to the experience,” Buffett, 90, said&nbsp;in an interview with CNBC&nbsp;that aired Tuesday. “I find the telephone a very satisfactory instrument.”</p><p><blockquote>“我做过一两次，他们有一整个屏幕上的人。90 岁的巴菲特在周二播出的 CNBC 采访中说：”我只是觉得这并没有增加体验。“我觉得电话是一种非常令人满意的工具。”</blockquote></p><p> Munger, on the other hand, uses the service three times a day. “I think Zoom is here to stay,” Munger said. “It just adds so much convenience.”</p><p><blockquote>另一方面，芒格每天使用这项服务三次。“芒格说：”我认为 Zoom 会继续存在。“这增加了很多便利。”</blockquote></p><p> “Well, particularly, if you’re 97,” Buffett quipped, referring to Munger’s age.</p><p><blockquote>“巴菲特在谈到芒格的年龄时打趣道：”尤其是如果你已经 97 岁了。</blockquote></p><p> In an interview with CNBC filmed from Munger’s backyard in Los Angeles after&nbsp;Berkshire Hathaway’s annual meeting&nbsp;in May, the pair also discussed the uneven impact of the pandemic on small businesses, their negative views of trading platform Robinhood, and the dangers of excessive margin.</p><p><blockquote>今年 5 月伯克希尔-哈撒韦公司年会结束后，在芒格位于洛杉矶的后院接受 CNBC 采访时，两人还讨论了大流行病对小企业的不均衡影响、他们对交易平台 Robinhood 的负面看法以及过高利润的危险。</blockquote></p><p> On the impact of the pandemic, Buffett said: “I don’t know how many but many hundreds of thousands or millions of small businesses have been hurt in a terrible way. But most of the big, big companies have overwhelmingly done fine unless they happen to be in cruise lines or hotels or something.”</p><p><blockquote>关于大流行病的影响，巴菲特说： “我不知道有多少，而是数十万或数百万家小企业受到了可怕的伤害。但大多数大公司都做得很好，除非它们碰巧是邮轮公司、酒店或其他行业。”</blockquote></p><p> Munger said he believes a lot of business travel, among other things, won’t come back following the pandemic. “A lot of people have found they don’t need to be [in an office]. I think all kinds of things are going to happen that we don’t go back to what we did before.”</p><p><blockquote>芒格说，他相信，除其他外，许多商务旅行不会在大流行病之后卷土重来。“很多人发现他们不需要[在办公室里]。我认为各种各样的事情都会发生，我们不会回到以前的样子。”</blockquote></p><p> “Some people did better than [the U.S.],” Munger added, referring to China’s aggressive response to the virus and subsequent recovery. “They didn’t allow any contact. You picked up your groceries in a box in the apartment and that’s all the contact you had with anybody for six weeks. And, when it was all over, they kind of went back to work. It happened they did it exactly right.”</p><p><blockquote>“芒格补充说：”有些人比（美国）做得更好，他指的是中国对病毒的积极应对以及随后的复苏。“他们不允许任何接触。你在公寓的一个盒子里拿了你的杂货，这就是你六周来与任何人的全部接触。当一切结束后，他们又回去工作了。碰巧他们做得完全正确。”</blockquote></p><p> Much of the special was biographical, with Buffett and Munger reflecting on their first meeting and how their friendship-at-first-sight evolved into a decadeslong venture&nbsp;transforming the Berkshire Hathaway textile company into one of the world’s largest conglomerates.</p><p><blockquote>巴菲特和芒格回顾了他们的初次见面，以及他们一见钟情如何发展成为长达数十年的合资企业，将伯克希尔-哈撒韦纺织公司转变为世界上最大的企业集团之一。</blockquote></p><p> Asked about Robinhood, Munger called the stock trading app “a gambling parlor masquerading as a respectable business.”</p><p><blockquote>当被问及 Robinhood 时，芒格称这款股票交易应用是 “伪装成体面企业的赌场”。</blockquote></p><p> “[Robinhood] is not encouraging people to buy a very, very, very low-cost index fund and hold it for 50 years,” Buffett said. “I will guarantee you that you will not walk in there, get that advice. Instead, you’ll get advice on how you can trade options.”</p><p><blockquote>“巴菲特说：”[Robinhood]并不鼓励人们购买非常、非常、非常低的指数基金并持有50年。“我保证你不会走进去，得到建议。相反，你会得到如何交易期权的建议”。</blockquote></p><p> Munger also suggested apps like Robinhood aren’t commission-free because the real costs—namely the process of&nbsp;payment for order flow—are hidden.</p><p><blockquote>芒格还表示，像 Robinhood 这样的应用程序不是免佣金的，因为真实的成本--即订单流的支付过程--是隐藏的。</blockquote></p><p> “It’s basically a sleazy, disreputable operation,” Munger said. “And the interesting thing about it is that some good people you would be glad to have marry into your family have backed it.”</p><p><blockquote>“芒格说：”这基本上是一次肮脏、声名狼藉的行动。“有趣的是，一些你很乐意嫁入你的家庭的好人支持它”。</blockquote></p><p> Reached for comment, a Robinhood spokesperson referred<i>Barron’s</i>to a May 3 statement from when Munger and Buffett previously criticized the app. “Robinhood has made investing simpler and more accessible to more people — and the public has responded. We are proud of that fact,” Jacqueline Ortiz Ramsay, head of public policy communications at Robinhood,wrote at the time.</p><p><blockquote>记者联系 Robinhood 发言人置评<i>巴伦</i>到 5 月 3 日芒格和巴菲特此前批评该应用程序时的声明。“Robinhood 让更多人更容易投资--公众也做出了回应。我们为此感到自豪，”Robinhood 公共政策传播主管杰奎琳-奥尔蒂斯-拉姆齐（Jacqueline Ortiz Ramsay）当时写道。</blockquote></p><p> Regarding the&nbsp;blow-up of&nbsp;hedge fund Archegos Capital that resulted in market volatility and major losses at several banks earlier this year, Munger called for more strict margin requirements.</p><p><blockquote>对于今年早些时候对冲基金Archegos Capital爆炸事件导致市场波动和几家银行重大损失，芒格呼吁更严格的保证金要求。</blockquote></p><p> “The people who are making money out of this unreasonable extension of credit argue for it, and nobody’s speaking against it,” Munger said. “And last time around, we got the correct regulation that came and stayed for a long time on margin debt only because we had the worst depression in the history of the English-speaking world. That’s what it took to get a little sense into the politicians.”</p><p><blockquote>“芒格说：”那些从这种不合理的信贷延期中赚钱的人都在为它辩护，没有人反对它。“上次，我们得到了正确的监管，因为我们经历了英语世界历史上最严重的萧条，所以对保证金债务进行了很长时间的监管。这就是政治家们获得一点理智的原因”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/buffett-munger-zoom-robinhood-pandemic-51625020162?mod=hp_LEADSUPP_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔","ZM":"Zoom"},"source_url":"https://www.barrons.com/articles/buffett-munger-zoom-robinhood-pandemic-51625020162?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145186822","content_text":"Unlike his longtime friend and business partner Charlie Munger,Berkshire Hathaway CEO Warren Buffett isn’t a huge fan of Zoom meetings.\n“I did it once or twice, and they had a whole screen of people. I just didn’t figure it was adding to the experience,” Buffett, 90, said in an interview with CNBC that aired Tuesday. “I find the telephone a very satisfactory instrument.”\nMunger, on the other hand, uses the service three times a day. “I think Zoom is here to stay,” Munger said. “It just adds so much convenience.”\n“Well, particularly, if you’re 97,” Buffett quipped, referring to Munger’s age.\nIn an interview with CNBC filmed from Munger’s backyard in Los Angeles after Berkshire Hathaway’s annual meeting in May, the pair also discussed the uneven impact of the pandemic on small businesses, their negative views of trading platform Robinhood, and the dangers of excessive margin.\nOn the impact of the pandemic, Buffett said: “I don’t know how many but many hundreds of thousands or millions of small businesses have been hurt in a terrible way. But most of the big, big companies have overwhelmingly done fine unless they happen to be in cruise lines or hotels or something.”\nMunger said he believes a lot of business travel, among other things, won’t come back following the pandemic. “A lot of people have found they don’t need to be [in an office]. I think all kinds of things are going to happen that we don’t go back to what we did before.”\n“Some people did better than [the U.S.],” Munger added, referring to China’s aggressive response to the virus and subsequent recovery. “They didn’t allow any contact. You picked up your groceries in a box in the apartment and that’s all the contact you had with anybody for six weeks. And, when it was all over, they kind of went back to work. It happened they did it exactly right.”\nMuch of the special was biographical, with Buffett and Munger reflecting on their first meeting and how their friendship-at-first-sight evolved into a decadeslong venture transforming the Berkshire Hathaway textile company into one of the world’s largest conglomerates.\nAsked about Robinhood, Munger called the stock trading app “a gambling parlor masquerading as a respectable business.”\n“[Robinhood] is not encouraging people to buy a very, very, very low-cost index fund and hold it for 50 years,” Buffett said. “I will guarantee you that you will not walk in there, get that advice. Instead, you’ll get advice on how you can trade options.”\nMunger also suggested apps like Robinhood aren’t commission-free because the real costs—namely the process of payment for order flow—are hidden.\n“It’s basically a sleazy, disreputable operation,” Munger said. “And the interesting thing about it is that some good people you would be glad to have marry into your family have backed it.”\nReached for comment, a Robinhood spokesperson referredBarron’sto a May 3 statement from when Munger and Buffett previously criticized the app. “Robinhood has made investing simpler and more accessible to more people — and the public has responded. We are proud of that fact,” Jacqueline Ortiz Ramsay, head of public policy communications at Robinhood,wrote at the time.\nRegarding the blow-up of hedge fund Archegos Capital that resulted in market volatility and major losses at several banks earlier this year, Munger called for more strict margin requirements.\n“The people who are making money out of this unreasonable extension of credit argue for it, and nobody’s speaking against it,” Munger said. “And last time around, we got the correct regulation that came and stayed for a long time on margin debt only because we had the worst depression in the history of the English-speaking world. That’s what it took to get a little sense into the politicians.”","news_type":1,"symbols_score_info":{"BRK.B":0.9,"ZM":0.9,"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":2773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150543476,"gmtCreate":1624922882895,"gmtModify":1631890899805,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment 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please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/126249401","repostId":"2146023477","repostType":4,"isVote":1,"tweetType":1,"viewCount":2665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121772887,"gmtCreate":1624494185249,"gmtModify":1631890899818,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/121772887","repostId":"2145156570","repostType":4,"isVote":1,"tweetType":1,"viewCount":2714,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123568680,"gmtCreate":1624429871940,"gmtModify":1631890899822,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/123568680","repostId":"1135867851","repostType":4,"isVote":1,"tweetType":1,"viewCount":777,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123051649,"gmtCreate":1624404500381,"gmtModify":1631890899826,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/123051649","repostId":"2145664330","repostType":4,"isVote":1,"tweetType":1,"viewCount":783,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120805646,"gmtCreate":1624317843685,"gmtModify":1631893985771,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"motley fool is the absolute worst","listText":"motley fool is the absolute worst","text":"motley fool is the absolute worst","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/120805646","repostId":"2145084835","repostType":4,"isVote":1,"tweetType":1,"viewCount":955,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120803837,"gmtCreate":1624317701529,"gmtModify":1631893985784,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please","listText":"like and comment please","text":"like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/120803837","repostId":"1191349655","repostType":4,"isVote":1,"tweetType":1,"viewCount":1178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167526293,"gmtCreate":1624278692612,"gmtModify":1631893985796,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"oh no","listText":"oh no","text":"oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167526293","repostId":"2145082922","repostType":4,"isVote":1,"tweetType":1,"viewCount":742,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164584883,"gmtCreate":1624229959642,"gmtModify":1631893985809,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!!","listText":"like and comment please!!","text":"like and comment please!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/164584883","repostId":"1199331995","repostType":4,"isVote":1,"tweetType":1,"viewCount":757,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164966261,"gmtCreate":1624166381853,"gmtModify":1631893985823,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"ooooo","listText":"ooooo","text":"ooooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/164966261","repostId":"1199331995","repostType":4,"isVote":1,"tweetType":1,"viewCount":841,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164960727,"gmtCreate":1624166115769,"gmtModify":1631893985839,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!!","listText":"like and comment please!!","text":"like and comment please!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/164960727","repostId":"1199331995","repostType":4,"isVote":1,"tweetType":1,"viewCount":1175,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165043764,"gmtCreate":1624083086958,"gmtModify":1631893985848,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"motley fool is a good source of news, to do&nbsp;opposite of what they say :)","listText":"motley fool is a good source of news, to do&nbsp;opposite of what they say :)","text":"motley fool is a good source of news, to do opposite of what they say :)","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/165043764","repostId":"1166679093","repostType":4,"repost":{"id":"1166679093","kind":"news","pubTimestamp":1624065234,"share":"https://www.laohunote.com/m/news/1166679093?lang=zh_CN&edition=full","pubTime":"2021-06-19 09:13","market":"us","language":"en","title":"3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测 3 只模因股票将暴跌超过 20%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166679093","media":"fool","summary":"Meme stocks have been all the rage so far this year. That's understandable, with several of them del","content":"<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.</p><p><blockquote>今年到目前为止，模因股票一直风靡一时。这是可以理解的，其中一些公司实现了三位数甚至四位数的百分比增长。</blockquote></p><p> However, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.</p><p><blockquote>然而，上升的可能会下降。分析师预计，推动一些最受欢迎股票大幅上涨的在线狂热不会持续。以下是华尔街认为未来 12 个月内将暴跌 20% 以上的三只模因股票。</blockquote></p><p> AMC Entertainment</p><p><blockquote>AMC院线</blockquote></p><p> <b>AMC Entertainment</b>(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.</p><p><blockquote><b>AMC院线</b>（纽约证券交易所股票代码：AMC）被评为所有模因股票中表现最好的。今年迄今为止，这家电影院运营商的股价已飙升近 2,500%。</blockquote></p><p> The consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.</p><p><blockquote>不过，分析师的共识是，该股可能会损失当前价值的 90%。即使是 Refinitiv 调查的最乐观的分析师也对 AMC 的目标价比当前股价低 70% 以上。</blockquote></p><p> But isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.</p><p><blockquote>但AMC的业务不是在好转吗？是的。限制的放松使该公司能够重新开放99%的美国影院。随着州和地方政府施加的座位容量限制的提高，AMC 可能会受益。今年夏天和今年晚些时候上映的多部可能会大受欢迎的电影也会有所帮助。</blockquote></p><p> However, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.</p><p><blockquote>然而，华尔街显然认为AMC的股价已经远远领先于其业务前景。该股的交易价格比 COVID-19 大流行之前高出近八倍。</blockquote></p><p> Clover Health Investments</p><p><blockquote>三叶草健康投资</blockquote></p><p> Only a few days ago, it looked like&nbsp;<b>Clover Health Investments</b>(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.</p><p><blockquote>就在几天前，它看起来像<b>三叶草健康投资</b>（纳斯达克股票代码：CLOV）可能会将 AMC 推到最热门的模因股票一边。散户投资者将三叶草视为主要的空头挤压候选者。</blockquote></p><p> Since the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.</p><p><blockquote>自6月初以来，Clover Health的股价已上涨超过65%。然而，分析师预计这些涨势不会持续。该股的平均目标价比当前股价低25%。</blockquote></p><p> Clover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.</p><p><blockquote>Clover Health 的估值似乎确实失控了。该医疗保健股票目前的交易价格是过去 12 个月销售额的 170 多倍。这是一个令人鼻血的水平，特别是考虑到该公司是美国调查的对象。司法部和证券交易委员会。</blockquote></p><p> Still, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.</p><p><blockquote>尽管如此，Clover Health 今年仍有可能实现更好的财务业绩。该公司希望通过瞄准最初的医疗保险计划来大幅增加其会员数量。除了目前的 Medicare Advantage 业务之外，这代表着一个重大的新市场机会。</blockquote></p><p> Sundial Growers</p><p><blockquote>日晷生长器</blockquote></p><p> At one point earlier this year,&nbsp;<b>Sundial Growers</b>(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.</p><p><blockquote>今年早些时候，<b>日晷生长器</b>（纳斯达克股票代码：SNDL）似乎是成为模因股票中最大赢家的合法竞争者。加拿大大麻股票今年迄今已上涨超过 520%，然后回吐了大部分涨幅。然而，Sundial的股价在2021年仍上涨了一倍多。</blockquote></p><p> Analysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.</p><p><blockquote>分析师预计大麻股可能会进一步下跌。Sundial 的一致目标价较其当前股价折扣 23%。一位分析师甚至认为该股可能会下跌 55%。</blockquote></p><p> There certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.</p><p><blockquote>当然有理由对 Sundial 的核心大麻业务感到悲观。2021年第一季度，该公司的大麻净收入同比下降。尽管 Sundial 正在采取措施，希望能够扭转局面，但这些努力是否会成功还有待观察。</blockquote></p><p> Sundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.</p><p><blockquote>Sundial 的商业交易可能会让投资者有理由乐观。毕竟，由于其投资，该公司在第一季度公布了正调整后的息税折旧摊销前利润 (EBITDA)。</blockquote></p><p> However, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the&nbsp;<b>Nasdaq</b>&nbsp;stock exchange.</p><p><blockquote>然而，Sundial 用于进行这些投资的现金是以其股票进一步稀释为代价的。该公司无法承受任何额外的稀释，而不得不采取孤注一掷的措施来维持其上市<b>纳斯达克</b>证券交易所。</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>3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测 3 只模因股票将暴跌超过 20%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测 3 只模因股票将暴跌超过 20%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">fool</strong><span class=\"h-time small\">2021-06-19 09:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.</p><p><blockquote>今年到目前为止，模因股票一直风靡一时。这是可以理解的，其中一些公司实现了三位数甚至四位数的百分比增长。</blockquote></p><p> However, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.</p><p><blockquote>然而，上升的可能会下降。分析师预计，推动一些最受欢迎股票大幅上涨的在线狂热不会持续。以下是华尔街认为未来 12 个月内将暴跌 20% 以上的三只模因股票。</blockquote></p><p> AMC Entertainment</p><p><blockquote>AMC院线</blockquote></p><p> <b>AMC Entertainment</b>(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.</p><p><blockquote><b>AMC院线</b>（纽约证券交易所股票代码：AMC）被评为所有模因股票中表现最好的。今年迄今为止，这家电影院运营商的股价已飙升近 2,500%。</blockquote></p><p> The consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.</p><p><blockquote>不过，分析师的共识是，该股可能会损失当前价值的 90%。即使是 Refinitiv 调查的最乐观的分析师也对 AMC 的目标价比当前股价低 70% 以上。</blockquote></p><p> But isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.</p><p><blockquote>但AMC的业务不是在好转吗？是的。限制的放松使该公司能够重新开放99%的美国影院。随着州和地方政府施加的座位容量限制的提高，AMC 可能会受益。今年夏天和今年晚些时候上映的多部可能会大受欢迎的电影也会有所帮助。</blockquote></p><p> However, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.</p><p><blockquote>然而，华尔街显然认为AMC的股价已经远远领先于其业务前景。该股的交易价格比 COVID-19 大流行之前高出近八倍。</blockquote></p><p> Clover Health Investments</p><p><blockquote>三叶草健康投资</blockquote></p><p> Only a few days ago, it looked like&nbsp;<b>Clover Health Investments</b>(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.</p><p><blockquote>就在几天前，它看起来像<b>三叶草健康投资</b>（纳斯达克股票代码：CLOV）可能会将 AMC 推到最热门的模因股票一边。散户投资者将三叶草视为主要的空头挤压候选者。</blockquote></p><p> Since the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.</p><p><blockquote>自6月初以来，Clover Health的股价已上涨超过65%。然而，分析师预计这些涨势不会持续。该股的平均目标价比当前股价低25%。</blockquote></p><p> Clover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.</p><p><blockquote>Clover Health 的估值似乎确实失控了。该医疗保健股票目前的交易价格是过去 12 个月销售额的 170 多倍。这是一个令人鼻血的水平，特别是考虑到该公司是美国调查的对象。司法部和证券交易委员会。</blockquote></p><p> Still, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.</p><p><blockquote>尽管如此，Clover Health 今年仍有可能实现更好的财务业绩。该公司希望通过瞄准最初的医疗保险计划来大幅增加其会员数量。除了目前的 Medicare Advantage 业务之外，这代表着一个重大的新市场机会。</blockquote></p><p> Sundial Growers</p><p><blockquote>日晷生长器</blockquote></p><p> At one point earlier this year,&nbsp;<b>Sundial Growers</b>(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.</p><p><blockquote>今年早些时候，<b>日晷生长器</b>（纳斯达克股票代码：SNDL）似乎是成为模因股票中最大赢家的合法竞争者。加拿大大麻股票今年迄今已上涨超过 520%，然后回吐了大部分涨幅。然而，Sundial的股价在2021年仍上涨了一倍多。</blockquote></p><p> Analysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.</p><p><blockquote>分析师预计大麻股可能会进一步下跌。Sundial 的一致目标价较其当前股价折扣 23%。一位分析师甚至认为该股可能会下跌 55%。</blockquote></p><p> There certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.</p><p><blockquote>当然有理由对 Sundial 的核心大麻业务感到悲观。2021年第一季度，该公司的大麻净收入同比下降。尽管 Sundial 正在采取措施，希望能够扭转局面，但这些努力是否会成功还有待观察。</blockquote></p><p> Sundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.</p><p><blockquote>Sundial 的商业交易可能会让投资者有理由乐观。毕竟，由于其投资，该公司在第一季度公布了正调整后的息税折旧摊销前利润 (EBITDA)。</blockquote></p><p> However, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the&nbsp;<b>Nasdaq</b>&nbsp;stock exchange.</p><p><blockquote>然而，Sundial 用于进行这些投资的现金是以其股票进一步稀释为代价的。该公司无法承受任何额外的稀释，而不得不采取孤注一掷的措施来维持其上市<b>纳斯达克</b>证券交易所。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/\">fool</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":{"SNDL":"SNDL Inc.","AMC":"AMC院线","CLOV":"Clover Health Corp"},"source_url":"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166679093","content_text":"Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.\nHowever, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.\nAMC Entertainment\nAMC Entertainment(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.\nThe consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.\nBut isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.\nHowever, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.\nClover Health Investments\nOnly a few days ago, it looked like Clover Health Investments(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.\nSince the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.\nClover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.\nStill, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.\nSundial Growers\nAt one point earlier this year, Sundial Growers(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.\nAnalysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.\nThere certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.\nSundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.\nHowever, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the Nasdaq stock exchange.","news_type":1,"symbols_score_info":{"CLOV":0.9,"SNDL":0.9,"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":940,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162753448,"gmtCreate":1624077070484,"gmtModify":1631893985862,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582094048004898","idStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please","listText":"like and comment please","text":"like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/162753448","repostId":"1156696708","repostType":4,"isVote":1,"tweetType":1,"viewCount":945,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":153450327,"gmtCreate":1625044496469,"gmtModify":1631890899804,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":37,"repostSize":0,"link":"https://laohu8.com/post/153450327","repostId":"1145186822","repostType":4,"repost":{"id":"1145186822","kind":"news","pubTimestamp":1625043845,"share":"https://www.laohunote.com/m/news/1145186822?lang=zh_CN&edition=full","pubTime":"2021-06-30 17:04","market":"us","language":"en","title":"Buffett and Munger Talk Zoom, Robinhood, and Lessons From the Pandemic<blockquote>巴菲特和芒格谈论 Zoom、Robinhood 和大流行的教训</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1145186822","media":"Barrons","summary":"Unlike his longtime friend and business partner Charlie Munger,Berkshire Hathaway CEO Warren Buffett","content":"<p>Unlike his longtime friend and business partner Charlie Munger,Berkshire Hathaway&nbsp;CEO Warren Buffett isn’t a huge fan of&nbsp;Zoom&nbsp;meetings.</p><p><blockquote>与他的老朋友兼商业伙伴查理-芒格不同，伯克希尔-哈撒韦公司首席执行官沃伦-巴菲特并不喜欢 Zoom 会议。</blockquote></p><p> “I did it once or twice, and they had a whole screen of people. I just didn’t figure it was adding to the experience,” Buffett, 90, said&nbsp;in an interview with CNBC&nbsp;that aired Tuesday. “I find the telephone a very satisfactory instrument.”</p><p><blockquote>“我做过一两次，他们有一整个屏幕上的人。90 岁的巴菲特在周二播出的 CNBC 采访中说：”我只是觉得这并没有增加体验。“我觉得电话是一种非常令人满意的工具。”</blockquote></p><p> Munger, on the other hand, uses the service three times a day. “I think Zoom is here to stay,” Munger said. “It just adds so much convenience.”</p><p><blockquote>另一方面，芒格每天使用这项服务三次。“芒格说：”我认为 Zoom 会继续存在。“这增加了很多便利。”</blockquote></p><p> “Well, particularly, if you’re 97,” Buffett quipped, referring to Munger’s age.</p><p><blockquote>“巴菲特在谈到芒格的年龄时打趣道：”尤其是如果你已经 97 岁了。</blockquote></p><p> In an interview with CNBC filmed from Munger’s backyard in Los Angeles after&nbsp;Berkshire Hathaway’s annual meeting&nbsp;in May, the pair also discussed the uneven impact of the pandemic on small businesses, their negative views of trading platform Robinhood, and the dangers of excessive margin.</p><p><blockquote>今年 5 月伯克希尔-哈撒韦公司年会结束后，在芒格位于洛杉矶的后院接受 CNBC 采访时，两人还讨论了大流行病对小企业的不均衡影响、他们对交易平台 Robinhood 的负面看法以及过高利润的危险。</blockquote></p><p> On the impact of the pandemic, Buffett said: “I don’t know how many but many hundreds of thousands or millions of small businesses have been hurt in a terrible way. But most of the big, big companies have overwhelmingly done fine unless they happen to be in cruise lines or hotels or something.”</p><p><blockquote>关于大流行病的影响，巴菲特说： “我不知道有多少，而是数十万或数百万家小企业受到了可怕的伤害。但大多数大公司都做得很好，除非它们碰巧是邮轮公司、酒店或其他行业。”</blockquote></p><p> Munger said he believes a lot of business travel, among other things, won’t come back following the pandemic. “A lot of people have found they don’t need to be [in an office]. I think all kinds of things are going to happen that we don’t go back to what we did before.”</p><p><blockquote>芒格说，他相信，除其他外，许多商务旅行不会在大流行病之后卷土重来。“很多人发现他们不需要[在办公室里]。我认为各种各样的事情都会发生，我们不会回到以前的样子。”</blockquote></p><p> “Some people did better than [the U.S.],” Munger added, referring to China’s aggressive response to the virus and subsequent recovery. “They didn’t allow any contact. You picked up your groceries in a box in the apartment and that’s all the contact you had with anybody for six weeks. And, when it was all over, they kind of went back to work. It happened they did it exactly right.”</p><p><blockquote>“芒格补充说：”有些人比（美国）做得更好，他指的是中国对病毒的积极应对以及随后的复苏。“他们不允许任何接触。你在公寓的一个盒子里拿了你的杂货，这就是你六周来与任何人的全部接触。当一切结束后，他们又回去工作了。碰巧他们做得完全正确。”</blockquote></p><p> Much of the special was biographical, with Buffett and Munger reflecting on their first meeting and how their friendship-at-first-sight evolved into a decadeslong venture&nbsp;transforming the Berkshire Hathaway textile company into one of the world’s largest conglomerates.</p><p><blockquote>巴菲特和芒格回顾了他们的初次见面，以及他们一见钟情如何发展成为长达数十年的合资企业，将伯克希尔-哈撒韦纺织公司转变为世界上最大的企业集团之一。</blockquote></p><p> Asked about Robinhood, Munger called the stock trading app “a gambling parlor masquerading as a respectable business.”</p><p><blockquote>当被问及 Robinhood 时，芒格称这款股票交易应用是 “伪装成体面企业的赌场”。</blockquote></p><p> “[Robinhood] is not encouraging people to buy a very, very, very low-cost index fund and hold it for 50 years,” Buffett said. “I will guarantee you that you will not walk in there, get that advice. Instead, you’ll get advice on how you can trade options.”</p><p><blockquote>“巴菲特说：”[Robinhood]并不鼓励人们购买非常、非常、非常低的指数基金并持有50年。“我保证你不会走进去，得到建议。相反，你会得到如何交易期权的建议”。</blockquote></p><p> Munger also suggested apps like Robinhood aren’t commission-free because the real costs—namely the process of&nbsp;payment for order flow—are hidden.</p><p><blockquote>芒格还表示，像 Robinhood 这样的应用程序不是免佣金的，因为真实的成本--即订单流的支付过程--是隐藏的。</blockquote></p><p> “It’s basically a sleazy, disreputable operation,” Munger said. “And the interesting thing about it is that some good people you would be glad to have marry into your family have backed it.”</p><p><blockquote>“芒格说：”这基本上是一次肮脏、声名狼藉的行动。“有趣的是，一些你很乐意嫁入你的家庭的好人支持它”。</blockquote></p><p> Reached for comment, a Robinhood spokesperson referred<i>Barron’s</i>to a May 3 statement from when Munger and Buffett previously criticized the app. “Robinhood has made investing simpler and more accessible to more people — and the public has responded. We are proud of that fact,” Jacqueline Ortiz Ramsay, head of public policy communications at Robinhood,wrote at the time.</p><p><blockquote>记者联系 Robinhood 发言人置评<i>巴伦</i>到 5 月 3 日芒格和巴菲特此前批评该应用程序时的声明。“Robinhood 让更多人更容易投资--公众也做出了回应。我们为此感到自豪，”Robinhood 公共政策传播主管杰奎琳-奥尔蒂斯-拉姆齐（Jacqueline Ortiz Ramsay）当时写道。</blockquote></p><p> Regarding the&nbsp;blow-up of&nbsp;hedge fund Archegos Capital that resulted in market volatility and major losses at several banks earlier this year, Munger called for more strict margin requirements.</p><p><blockquote>对于今年早些时候对冲基金Archegos Capital爆炸事件导致市场波动和几家银行重大损失，芒格呼吁更严格的保证金要求。</blockquote></p><p> “The people who are making money out of this unreasonable extension of credit argue for it, and nobody’s speaking against it,” Munger said. “And last time around, we got the correct regulation that came and stayed for a long time on margin debt only because we had the worst depression in the history of the English-speaking world. That’s what it took to get a little sense into the politicians.”</p><p><blockquote>“芒格说：”那些从这种不合理的信贷延期中赚钱的人都在为它辩护，没有人反对它。“上次，我们得到了正确的监管，因为我们经历了英语世界历史上最严重的萧条，所以对保证金债务进行了很长时间的监管。这就是政治家们获得一点理智的原因”。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett and Munger Talk Zoom, Robinhood, and Lessons From the Pandemic<blockquote>巴菲特和芒格谈论 Zoom、Robinhood 和大流行的教训</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\">\nBuffett and Munger Talk Zoom, Robinhood, and Lessons From the Pandemic<blockquote>巴菲特和芒格谈论 Zoom、Robinhood 和大流行的教训</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-30 17:04</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Unlike his longtime friend and business partner Charlie Munger,Berkshire Hathaway&nbsp;CEO Warren Buffett isn’t a huge fan of&nbsp;Zoom&nbsp;meetings.</p><p><blockquote>与他的老朋友兼商业伙伴查理-芒格不同，伯克希尔-哈撒韦公司首席执行官沃伦-巴菲特并不喜欢 Zoom 会议。</blockquote></p><p> “I did it once or twice, and they had a whole screen of people. I just didn’t figure it was adding to the experience,” Buffett, 90, said&nbsp;in an interview with CNBC&nbsp;that aired Tuesday. “I find the telephone a very satisfactory instrument.”</p><p><blockquote>“我做过一两次，他们有一整个屏幕上的人。90 岁的巴菲特在周二播出的 CNBC 采访中说：”我只是觉得这并没有增加体验。“我觉得电话是一种非常令人满意的工具。”</blockquote></p><p> Munger, on the other hand, uses the service three times a day. “I think Zoom is here to stay,” Munger said. “It just adds so much convenience.”</p><p><blockquote>另一方面，芒格每天使用这项服务三次。“芒格说：”我认为 Zoom 会继续存在。“这增加了很多便利。”</blockquote></p><p> “Well, particularly, if you’re 97,” Buffett quipped, referring to Munger’s age.</p><p><blockquote>“巴菲特在谈到芒格的年龄时打趣道：”尤其是如果你已经 97 岁了。</blockquote></p><p> In an interview with CNBC filmed from Munger’s backyard in Los Angeles after&nbsp;Berkshire Hathaway’s annual meeting&nbsp;in May, the pair also discussed the uneven impact of the pandemic on small businesses, their negative views of trading platform Robinhood, and the dangers of excessive margin.</p><p><blockquote>今年 5 月伯克希尔-哈撒韦公司年会结束后，在芒格位于洛杉矶的后院接受 CNBC 采访时，两人还讨论了大流行病对小企业的不均衡影响、他们对交易平台 Robinhood 的负面看法以及过高利润的危险。</blockquote></p><p> On the impact of the pandemic, Buffett said: “I don’t know how many but many hundreds of thousands or millions of small businesses have been hurt in a terrible way. But most of the big, big companies have overwhelmingly done fine unless they happen to be in cruise lines or hotels or something.”</p><p><blockquote>关于大流行病的影响，巴菲特说： “我不知道有多少，而是数十万或数百万家小企业受到了可怕的伤害。但大多数大公司都做得很好，除非它们碰巧是邮轮公司、酒店或其他行业。”</blockquote></p><p> Munger said he believes a lot of business travel, among other things, won’t come back following the pandemic. “A lot of people have found they don’t need to be [in an office]. I think all kinds of things are going to happen that we don’t go back to what we did before.”</p><p><blockquote>芒格说，他相信，除其他外，许多商务旅行不会在大流行病之后卷土重来。“很多人发现他们不需要[在办公室里]。我认为各种各样的事情都会发生，我们不会回到以前的样子。”</blockquote></p><p> “Some people did better than [the U.S.],” Munger added, referring to China’s aggressive response to the virus and subsequent recovery. “They didn’t allow any contact. You picked up your groceries in a box in the apartment and that’s all the contact you had with anybody for six weeks. And, when it was all over, they kind of went back to work. It happened they did it exactly right.”</p><p><blockquote>“芒格补充说：”有些人比（美国）做得更好，他指的是中国对病毒的积极应对以及随后的复苏。“他们不允许任何接触。你在公寓的一个盒子里拿了你的杂货，这就是你六周来与任何人的全部接触。当一切结束后，他们又回去工作了。碰巧他们做得完全正确。”</blockquote></p><p> Much of the special was biographical, with Buffett and Munger reflecting on their first meeting and how their friendship-at-first-sight evolved into a decadeslong venture&nbsp;transforming the Berkshire Hathaway textile company into one of the world’s largest conglomerates.</p><p><blockquote>巴菲特和芒格回顾了他们的初次见面，以及他们一见钟情如何发展成为长达数十年的合资企业，将伯克希尔-哈撒韦纺织公司转变为世界上最大的企业集团之一。</blockquote></p><p> Asked about Robinhood, Munger called the stock trading app “a gambling parlor masquerading as a respectable business.”</p><p><blockquote>当被问及 Robinhood 时，芒格称这款股票交易应用是 “伪装成体面企业的赌场”。</blockquote></p><p> “[Robinhood] is not encouraging people to buy a very, very, very low-cost index fund and hold it for 50 years,” Buffett said. “I will guarantee you that you will not walk in there, get that advice. Instead, you’ll get advice on how you can trade options.”</p><p><blockquote>“巴菲特说：”[Robinhood]并不鼓励人们购买非常、非常、非常低的指数基金并持有50年。“我保证你不会走进去，得到建议。相反，你会得到如何交易期权的建议”。</blockquote></p><p> Munger also suggested apps like Robinhood aren’t commission-free because the real costs—namely the process of&nbsp;payment for order flow—are hidden.</p><p><blockquote>芒格还表示，像 Robinhood 这样的应用程序不是免佣金的，因为真实的成本--即订单流的支付过程--是隐藏的。</blockquote></p><p> “It’s basically a sleazy, disreputable operation,” Munger said. “And the interesting thing about it is that some good people you would be glad to have marry into your family have backed it.”</p><p><blockquote>“芒格说：”这基本上是一次肮脏、声名狼藉的行动。“有趣的是，一些你很乐意嫁入你的家庭的好人支持它”。</blockquote></p><p> Reached for comment, a Robinhood spokesperson referred<i>Barron’s</i>to a May 3 statement from when Munger and Buffett previously criticized the app. “Robinhood has made investing simpler and more accessible to more people — and the public has responded. We are proud of that fact,” Jacqueline Ortiz Ramsay, head of public policy communications at Robinhood,wrote at the time.</p><p><blockquote>记者联系 Robinhood 发言人置评<i>巴伦</i>到 5 月 3 日芒格和巴菲特此前批评该应用程序时的声明。“Robinhood 让更多人更容易投资--公众也做出了回应。我们为此感到自豪，”Robinhood 公共政策传播主管杰奎琳-奥尔蒂斯-拉姆齐（Jacqueline Ortiz Ramsay）当时写道。</blockquote></p><p> Regarding the&nbsp;blow-up of&nbsp;hedge fund Archegos Capital that resulted in market volatility and major losses at several banks earlier this year, Munger called for more strict margin requirements.</p><p><blockquote>对于今年早些时候对冲基金Archegos Capital爆炸事件导致市场波动和几家银行重大损失，芒格呼吁更严格的保证金要求。</blockquote></p><p> “The people who are making money out of this unreasonable extension of credit argue for it, and nobody’s speaking against it,” Munger said. “And last time around, we got the correct regulation that came and stayed for a long time on margin debt only because we had the worst depression in the history of the English-speaking world. That’s what it took to get a little sense into the politicians.”</p><p><blockquote>“芒格说：”那些从这种不合理的信贷延期中赚钱的人都在为它辩护，没有人反对它。“上次，我们得到了正确的监管，因为我们经历了英语世界历史上最严重的萧条，所以对保证金债务进行了很长时间的监管。这就是政治家们获得一点理智的原因”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/buffett-munger-zoom-robinhood-pandemic-51625020162?mod=hp_LEADSUPP_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔","ZM":"Zoom"},"source_url":"https://www.barrons.com/articles/buffett-munger-zoom-robinhood-pandemic-51625020162?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145186822","content_text":"Unlike his longtime friend and business partner Charlie Munger,Berkshire Hathaway CEO Warren Buffett isn’t a huge fan of Zoom meetings.\n“I did it once or twice, and they had a whole screen of people. I just didn’t figure it was adding to the experience,” Buffett, 90, said in an interview with CNBC that aired Tuesday. “I find the telephone a very satisfactory instrument.”\nMunger, on the other hand, uses the service three times a day. “I think Zoom is here to stay,” Munger said. “It just adds so much convenience.”\n“Well, particularly, if you’re 97,” Buffett quipped, referring to Munger’s age.\nIn an interview with CNBC filmed from Munger’s backyard in Los Angeles after Berkshire Hathaway’s annual meeting in May, the pair also discussed the uneven impact of the pandemic on small businesses, their negative views of trading platform Robinhood, and the dangers of excessive margin.\nOn the impact of the pandemic, Buffett said: “I don’t know how many but many hundreds of thousands or millions of small businesses have been hurt in a terrible way. But most of the big, big companies have overwhelmingly done fine unless they happen to be in cruise lines or hotels or something.”\nMunger said he believes a lot of business travel, among other things, won’t come back following the pandemic. “A lot of people have found they don’t need to be [in an office]. I think all kinds of things are going to happen that we don’t go back to what we did before.”\n“Some people did better than [the U.S.],” Munger added, referring to China’s aggressive response to the virus and subsequent recovery. “They didn’t allow any contact. You picked up your groceries in a box in the apartment and that’s all the contact you had with anybody for six weeks. And, when it was all over, they kind of went back to work. It happened they did it exactly right.”\nMuch of the special was biographical, with Buffett and Munger reflecting on their first meeting and how their friendship-at-first-sight evolved into a decadeslong venture transforming the Berkshire Hathaway textile company into one of the world’s largest conglomerates.\nAsked about Robinhood, Munger called the stock trading app “a gambling parlor masquerading as a respectable business.”\n“[Robinhood] is not encouraging people to buy a very, very, very low-cost index fund and hold it for 50 years,” Buffett said. “I will guarantee you that you will not walk in there, get that advice. Instead, you’ll get advice on how you can trade options.”\nMunger also suggested apps like Robinhood aren’t commission-free because the real costs—namely the process of payment for order flow—are hidden.\n“It’s basically a sleazy, disreputable operation,” Munger said. “And the interesting thing about it is that some good people you would be glad to have marry into your family have backed it.”\nReached for comment, a Robinhood spokesperson referredBarron’sto a May 3 statement from when Munger and Buffett previously criticized the app. “Robinhood has made investing simpler and more accessible to more people — and the public has responded. We are proud of that fact,” Jacqueline Ortiz Ramsay, head of public policy communications at Robinhood,wrote at the time.\nRegarding the blow-up of hedge fund Archegos Capital that resulted in market volatility and major losses at several banks earlier this year, Munger called for more strict margin requirements.\n“The people who are making money out of this unreasonable extension of credit argue for it, and nobody’s speaking against it,” Munger said. “And last time around, we got the correct regulation that came and stayed for a long time on margin debt only because we had the worst depression in the history of the English-speaking world. That’s what it took to get a little sense into the politicians.”","news_type":1,"symbols_score_info":{"BRK.B":0.9,"ZM":0.9,"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":2773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162753448,"gmtCreate":1624077070484,"gmtModify":1631893985862,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please","listText":"like and comment please","text":"like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/162753448","repostId":"1156696708","repostType":4,"isVote":1,"tweetType":1,"viewCount":945,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115535912,"gmtCreate":1623022108736,"gmtModify":1634096259803,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":1,"link":"https://laohu8.com/post/115535912","repostId":"2141281322","repostType":4,"isVote":1,"tweetType":1,"viewCount":803,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115841933,"gmtCreate":1622977762822,"gmtModify":1634096447471,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/115841933","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohunote.com/m/news/1106312903?lang=zh_CN&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</li><li>支付平台 Marqeta 计划以 124 亿美元的市值筹集 10 亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>市场</b>(MQ) 计划以 124 亿美元的市值筹集 10 亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta 发展迅速，其客户中包括 Affirm (AFRM) 和 DoorDash (DASH) 等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中国在线招聘平台<b>看准</b>(BZ) 计划以 82 亿美元的市值筹集 8.64 亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，根据MAUs，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>LifeStance健康</b>(LFST) 计划以 61 亿美元的市值筹集 6.4 亿美元。LifeStance表示，它已经建立了美国最大的门诊心理健康平台之一，截至2021年3月31日，在27个州的73个MSA雇佣了3300多名持牌心理健康临床医生。尽管息税前利润在2021年第一季度变为负值，但该公司仍表现出增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>星期一网</b>(MNDY) 计划以 68 亿美元的市值筹集 4.9 亿美元。monday.com允许组织轻松构建适合其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce 和 Zoom 计划同时投资 1.5 亿美元进行私募。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>口袋</b>（任务）计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利且增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA) 计划以 21 亿美元的市值筹集 2.5 亿美元。该公司的 Zeta 营销平台利用身份数据，通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta 盈利，为 1,000 多名客户提供服务，到 2020 年将提供大约 5 亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>在线奢侈品市场<b>1stDibs</b>(DIBS) 计划以 7.73 亿美元的市值筹集 1.12 亿美元。1stDibs连接古董、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020 年，该市场在过去一年中有超过 58,000 名买家进行了购买，平均每年总购买金额超过 5,500 美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME) 计划以 19 亿美元的市值筹集 4300 万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将对 6 家公司进行街头调查，多达 11 家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2021年6月3日，文艺复兴IPO指数年初至今下跌6.0%，而标普500上涨11.6%。Renaissance Capital 的 IPO ETF（纽约证券交易所股票代码：IPO）追踪该指数，持有量最大的 ETF 包括Zoom Video (ZM) 和优步 (UBER)。Renaissance International IPO 指数今年迄今下跌 1.1%，而 ACWX 指数上涨 10.5%。Renaissance Capital 的国际 IPO ETF（纽约证券交易所股票代码：IPOS）追踪该指数，持有的 ETF 包括 Nexi 和 EQT Partners。</blockquote></p><p></p>","source":"lsy1603787993745","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>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</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\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-06-05 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</li><li>支付平台 Marqeta 计划以 124 亿美元的市值筹集 10 亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>市场</b>(MQ) 计划以 124 亿美元的市值筹集 10 亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta 发展迅速，其客户中包括 Affirm (AFRM) 和 DoorDash (DASH) 等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中国在线招聘平台<b>看准</b>(BZ) 计划以 82 亿美元的市值筹集 8.64 亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，根据MAUs，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>LifeStance健康</b>(LFST) 计划以 61 亿美元的市值筹集 6.4 亿美元。LifeStance表示，它已经建立了美国最大的门诊心理健康平台之一，截至2021年3月31日，在27个州的73个MSA雇佣了3300多名持牌心理健康临床医生。尽管息税前利润在2021年第一季度变为负值，但该公司仍表现出增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>星期一网</b>(MNDY) 计划以 68 亿美元的市值筹集 4.9 亿美元。monday.com允许组织轻松构建适合其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce 和 Zoom 计划同时投资 1.5 亿美元进行私募。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>口袋</b>（任务）计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利且增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA) 计划以 21 亿美元的市值筹集 2.5 亿美元。该公司的 Zeta 营销平台利用身份数据，通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta 盈利，为 1,000 多名客户提供服务，到 2020 年将提供大约 5 亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>在线奢侈品市场<b>1stDibs</b>(DIBS) 计划以 7.73 亿美元的市值筹集 1.12 亿美元。1stDibs连接古董、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020 年，该市场在过去一年中有超过 58,000 名买家进行了购买，平均每年总购买金额超过 5,500 美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME) 计划以 19 亿美元的市值筹集 4300 万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将对 6 家公司进行街头调查，多达 11 家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2021年6月3日，文艺复兴IPO指数年初至今下跌6.0%，而标普500上涨11.6%。Renaissance Capital 的 IPO ETF（纽约证券交易所股票代码：IPO）追踪该指数，持有量最大的 ETF 包括Zoom Video (ZM) 和优步 (UBER)。Renaissance International IPO 指数今年迄今下跌 1.1%，而 ACWX 指数上涨 10.5%。Renaissance Capital 的国际 IPO ETF（纽约证券交易所股票代码：IPOS）追踪该指数，持有的 ETF 包括 Nexi 和 EQT Partners。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Renaissance Capital</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":{"MQ":"Marqeta, Inc.","ZME":"掌门教育","LFST":"LifeStance Health Group, Inc.","TASK":"TaskUs Inc.",".IXIC":"NASDAQ Composite","ZETA":"Zeta Global Holdings Corp.","BZ":"BOSS直聘","DIBS":"1stdibs.com Inc.","MNDY":"Monday.com Ltd.",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{".DJI":0.9,"MQ":0.9,"DIBS":0.9,"TASK":0.9,"ZETA":0.9,"ZME":0.9,"BZ":0.9,".IXIC":0.9,"MNDY":0.9,"LFST":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":979,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125504409,"gmtCreate":1624678581501,"gmtModify":1631890899812,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/125504409","repostId":"1100072036","repostType":4,"isVote":1,"tweetType":1,"viewCount":3245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114770856,"gmtCreate":1623108283175,"gmtModify":1634036976645,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/114770856","repostId":"1108033863","repostType":4,"isVote":1,"tweetType":1,"viewCount":650,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":195449535,"gmtCreate":1621311255127,"gmtModify":1634192541166,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"wow like and reply please!","listText":"wow like and reply please!","text":"wow like and reply please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/195449535","repostId":"1187982931","repostType":4,"isVote":1,"tweetType":1,"viewCount":1262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121772887,"gmtCreate":1624494185249,"gmtModify":1631890899818,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/121772887","repostId":"2145156570","repostType":4,"isVote":1,"tweetType":1,"viewCount":2714,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119109363,"gmtCreate":1622523984652,"gmtModify":1634100821919,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"i see, like and comment please!","listText":"i see, like and comment please!","text":"i see, like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/119109363","repostId":"1105273964","repostType":4,"repost":{"id":"1105273964","kind":"news","pubTimestamp":1622511256,"share":"https://www.laohunote.com/m/news/1105273964?lang=zh_CN&edition=full","pubTime":"2021-06-01 09:34","market":"us","language":"en","title":"Here Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的 11 家 IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105273964","media":"Barron's","summary":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.That left us with 11 names. First up:CureVac, which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its ","content":"<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.</p><p><blockquote>首次公开募股市场最近为那些能够在公司上市前获得股票的投资者带来了一些巨大的首日收益。</blockquote></p><p>But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.<i>Barron’s</i>looked at businesses that have gone public in the past 12 months to find some strong performers.</p><p><blockquote>但并不是每个人都能得到这类机会。大多数散户投资者必须等到公司开始公开交易才能购买股票。<i>巴伦</i>查看过去 12 个月内上市的企业，寻找一些表现强劲的企业。</blockquote></p><p>First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..</p><p><blockquote>首先，我们搜索通过传统首次公开募股上市的公司：这意味着我们过滤掉了与特殊目的收购公司（SPAC）合并的企业。然后，我们搜索了在纽约证券交易所或纳斯达克上市的公司。我们还关注市值至少为 10 亿美元的实体。我们将搜索范围缩小到股票发行价总回报率最高的公司..</blockquote></p><p>That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .</p><p><blockquote>这样我们就有了11个名字。排名第一的是 CureVac（股票代码：CVAC），这是 screen 上表现最好的 IPO，总回报率为 596.75%。CureVac专注于信使RNA或mRNA技术，这是几个领先的新冠肺炎疫苗项目的基础。这家德国生物技术公司 8 月份以每股 16 美元的价格上市，首日股价飙升 249%，收于 55.90 美元。一月份，CureVac 与拜耳达成协议，加速其 Covid-19 候选疫苗的开发和供应。该公司基于 mRNA 的 Covid-19 疫苗目前正在进行临床试验，2b/3 期数据预计将于今年夏天公布。自首次公开募股以来，该股已上涨近一倍，周五收于 111.48 美元。</blockquote></p><p>Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.</p><p><blockquote>强劲的表现并不一定取决于第一天交易的成功。我们名单上的四家公司交易失败了，这意味着它们的股票在交易第一天就跌破了IPO价格。</blockquote></p><p>Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.</p><p><blockquote>典型案例：以星综合航运（ZIM）。这家轻资产航运公司于 1 月份上市，发行价为 15 美元，但当天收盘价为 11.50 美元。然而，到 5 月 19 日，以星公布第一季度收益为 5.896 亿美元，即每股收益 5.35 美元，其股价上涨了 295%。该公司还宣布派发每股 2 美元的特别现金股息。根据 FactSet 的数据，以星是过去 12 个月中表现第二好的 IPO，总回报率为 209.33%。周五收盘价为 46.40 美元。</blockquote></p><p>Another example isAcademy Sports &amp; Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading<b>.</b>Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.</p><p><blockquote>另一个例子是 isAcademy Sports &amp; Outdoors (ASO)：该公司于 10 月份上市，发行价为 13 美元，公开交易首日收盘价为 12.99 美元<b>.</b>Academy上市时盈利，这在IPO市场上实属罕见。今年 3 月，该公司报告称，截至 1 月 30 日的第四财季，其净利润增长 416%，达到 9150 万美元，即每股 97 美分。自 IPO 以来，其股价已上涨近两倍，周五交易价格为 36.53 美元。FactSet 表示，Academy Sports 排名第三，发行价总回报率为 181%。</blockquote></p><p>Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.<img src=\"https://static.tigerbbs.com/9dedc209ede147958c015d3a586bb587\" tg-width=\"630\" tg-height=\"606\">Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.</p><p><blockquote>强劲的涨幅这些公司都是去年上市的，与 IPO 价格相比，总回报率很高。属于这一类别的还有 Corsair Gaming (CRSR)，这是一家为游戏玩家生产性能装备的加州公司，以及总部位于迪拜的 Dyalla Group (YALA)，后者生产一款在中东和北非使用的名为 Yalla 的语音聊天应用程序。在 9 月份 IPO 表现不佳后，这两只股票都强劲反弹。</blockquote></p><p>Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.</p><p><blockquote>一些上榜的公司在首次亮相时股价飙升，但此后股价下跌。尽管如此，这些公司仍在盈利。</blockquote></p><p>ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce&nbsp;went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.</p><p><blockquote>考虑 BigCommerce (BIGC)，它提供云电子商务平台，供 SkullCandy、Savannah Bee Co 和 Cleveland Cavaliers 等客户使用。 BigCommerce 于 8 月上市，发行价为 24 美元，股价飙升 201%当天，收于 72.27 美元。自 IPO 以来，由于更广泛的技术抛售，该公司股价已下跌近 25%。</blockquote></p><p>The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.</p><p><blockquote>然而，该公司报告了一些积极的进展，例如 2 月份的一项交易，该交易将使 BigCommerce 客户能够在沃尔玛市场上直接销售。该公司还公布了好于预期的第四季度业绩。根据 FactSet 的数据，BigCommerce 的总回报率接近 127%。</blockquote></p><p>Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.</p><p><blockquote>其他公司自上市以来股价也大幅上涨。 Dream Finders Homes (DFH) 在高增长市场设计、建造和销售房屋，1 月份以每股 13 美元的价格首次交易时就已经盈利。首日股价飙升 61%，至 20.95 美元。3月份房价以2005年以来最快的速度增长，这对房地产股有所帮助。Dream Finders 股价自 IPO 以来已上涨近 52%，周五交易价格为 31.77 美元。Dream Finders 的发行价总回报率为 144.38%。</blockquote></p><p></p>","source":"lsy1610680873436","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 Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的 11 家 IPO</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 Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的 11 家 IPO</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-06-01 09:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.</p><p><blockquote>首次公开募股市场最近为那些能够在公司上市前获得股票的投资者带来了一些巨大的首日收益。</blockquote></p><p>But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.<i>Barron’s</i>looked at businesses that have gone public in the past 12 months to find some strong performers.</p><p><blockquote>但并不是每个人都能得到这类机会。大多数散户投资者必须等到公司开始公开交易才能购买股票。<i>巴伦</i>查看过去 12 个月内上市的企业，寻找一些表现强劲的企业。</blockquote></p><p>First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..</p><p><blockquote>首先，我们搜索通过传统首次公开募股上市的公司：这意味着我们过滤掉了与特殊目的收购公司（SPAC）合并的企业。然后，我们搜索了在纽约证券交易所或纳斯达克上市的公司。我们还关注市值至少为 10 亿美元的实体。我们将搜索范围缩小到股票发行价总回报率最高的公司..</blockquote></p><p>That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .</p><p><blockquote>这样我们就有了11个名字。排名第一的是 CureVac（股票代码：CVAC），这是 screen 上表现最好的 IPO，总回报率为 596.75%。CureVac专注于信使RNA或mRNA技术，这是几个领先的新冠肺炎疫苗项目的基础。这家德国生物技术公司 8 月份以每股 16 美元的价格上市，首日股价飙升 249%，收于 55.90 美元。一月份，CureVac 与拜耳达成协议，加速其 Covid-19 候选疫苗的开发和供应。该公司基于 mRNA 的 Covid-19 疫苗目前正在进行临床试验，2b/3 期数据预计将于今年夏天公布。自首次公开募股以来，该股已上涨近一倍，周五收于 111.48 美元。</blockquote></p><p>Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.</p><p><blockquote>强劲的表现并不一定取决于第一天交易的成功。我们名单上的四家公司交易失败了，这意味着它们的股票在交易第一天就跌破了IPO价格。</blockquote></p><p>Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.</p><p><blockquote>典型案例：以星综合航运（ZIM）。这家轻资产航运公司于 1 月份上市，发行价为 15 美元，但当天收盘价为 11.50 美元。然而，到 5 月 19 日，以星公布第一季度收益为 5.896 亿美元，即每股收益 5.35 美元，其股价上涨了 295%。该公司还宣布派发每股 2 美元的特别现金股息。根据 FactSet 的数据，以星是过去 12 个月中表现第二好的 IPO，总回报率为 209.33%。周五收盘价为 46.40 美元。</blockquote></p><p>Another example isAcademy Sports &amp; Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading<b>.</b>Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.</p><p><blockquote>另一个例子是 isAcademy Sports &amp; Outdoors (ASO)：该公司于 10 月份上市，发行价为 13 美元，公开交易首日收盘价为 12.99 美元<b>.</b>Academy上市时盈利，这在IPO市场上实属罕见。今年 3 月，该公司报告称，截至 1 月 30 日的第四财季，其净利润增长 416%，达到 9150 万美元，即每股 97 美分。自 IPO 以来，其股价已上涨近两倍，周五交易价格为 36.53 美元。FactSet 表示，Academy Sports 排名第三，发行价总回报率为 181%。</blockquote></p><p>Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.<img src=\"https://static.tigerbbs.com/9dedc209ede147958c015d3a586bb587\" tg-width=\"630\" tg-height=\"606\">Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.</p><p><blockquote>强劲的涨幅这些公司都是去年上市的，与 IPO 价格相比，总回报率很高。属于这一类别的还有 Corsair Gaming (CRSR)，这是一家为游戏玩家生产性能装备的加州公司，以及总部位于迪拜的 Dyalla Group (YALA)，后者生产一款在中东和北非使用的名为 Yalla 的语音聊天应用程序。在 9 月份 IPO 表现不佳后，这两只股票都强劲反弹。</blockquote></p><p>Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.</p><p><blockquote>一些上榜的公司在首次亮相时股价飙升，但此后股价下跌。尽管如此，这些公司仍在盈利。</blockquote></p><p>ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce&nbsp;went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.</p><p><blockquote>考虑 BigCommerce (BIGC)，它提供云电子商务平台，供 SkullCandy、Savannah Bee Co 和 Cleveland Cavaliers 等客户使用。 BigCommerce 于 8 月上市，发行价为 24 美元，股价飙升 201%当天，收于 72.27 美元。自 IPO 以来，由于更广泛的技术抛售，该公司股价已下跌近 25%。</blockquote></p><p>The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.</p><p><blockquote>然而，该公司报告了一些积极的进展，例如 2 月份的一项交易，该交易将使 BigCommerce 客户能够在沃尔玛市场上直接销售。该公司还公布了好于预期的第四季度业绩。根据 FactSet 的数据，BigCommerce 的总回报率接近 127%。</blockquote></p><p>Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.</p><p><blockquote>其他公司自上市以来股价也大幅上涨。 Dream Finders Homes (DFH) 在高增长市场设计、建造和销售房屋，1 月份以每股 13 美元的价格首次交易时就已经盈利。首日股价飙升 61%，至 20.95 美元。3月份房价以2005年以来最快的速度增长，这对房地产股有所帮助。Dream Finders 股价自 IPO 以来已上涨近 52%，周五交易价格为 31.77 美元。Dream Finders 的发行价总回报率为 144.38%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105273964","content_text":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.Barron’slooked at businesses that have gone public in the past 12 months to find some strong performers.First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.Another example isAcademy Sports & Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading.Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.","news_type":1,"symbols_score_info":{"BOTB.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":1022,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138028055,"gmtCreate":1621901962177,"gmtModify":1634185709256,"author":{"id":"3582094048004898","authorId":"3582094048004898","name":"idkwhatimdoi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582094048004898","authorIdStr":"3582094048004898"},"themes":[],"title":"","htmlText":"like and comment please!","listText":"like and comment please!","text":"like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/138028055","repostId":"1106657602","repostType":4,"isVote":1,"tweetType":1,"viewCount":718,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}