Nariousac的个人主页 - 老虎社区

Nariousac

Nariousac

暂无个人介绍

IP属地：未知

133关注

2粉丝

0主题

0勋章

2021-07-07

Recovery soon?

2021-07-07

$Lion-OCBC Sec HSTECH S$(HST.SI)$recover soon?

2021-06-30

$Lion-OCBC Sec HSTECH S$(HST.SI)$ up up up

2021-06-30

Up up up

2021-06-28

$Lion-OCBC Sec HSTECH S$(HST.SI)$ up up up

2021-06-27

Up? Or down?

2021-06-27

What are your thoughts

Amazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</blockquote>

2021-06-25

Go go go

2021-06-25

$Lion-OCBC Sec HSTECH S$(HST.SI)$go go go

2021-06-24

Upturn coming?

2021-06-24

$Li Auto(LI)$up and up

2021-06-23

Like and comment

抱歉，原内容已删除

2021-06-23

$Lion-OCBC Sec HSTECH S$(HST.SI)$holding out for uptrend

2021-06-21

40 possible?

2021-06-21

$Bank of America(BAC)$ 45 possible?

2021-06-20

$Bank of America(BAC)$boom

2021-06-19

$Li Auto(LI)$ $40 go go

2021-06-18

$Li Auto(LI)$up to $40?

2021-06-17

$Bank of America(BAC)$up up up

2021-06-17

Like and comment

抱歉，原内容已删除

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3582406959722542","uuid":"3582406959722542","gmtCreate":1619314065223,"gmtModify":1619435116740,"name":"Nariousac","pinyin":"nariousac","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":2,"headSize":133,"tweetSize":111,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.09.15","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"35ec162348d5460f88c959321e554969-2","templateUuid":"35ec162348d5460f88c959321e554969","name":"宗师交易员","description":"证券或期货账户累计交易次数达到100次","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"80.94%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":3,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":140054821,"gmtCreate":1625620926863,"gmtModify":1633939010590,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"Recovery soon?&nbsp;","listText":"Recovery soon?&nbsp;","text":"Recovery soon?","images":[{"img":"https://static.tigerbbs.com/edcad3eb7340233eb6221bf66b07758d","width":"1080","height":"3172"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140054821","isVote":1,"tweetType":1,"viewCount":790,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":140055823,"gmtCreate":1625620894862,"gmtModify":1631883693840,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>recover soon?&nbsp;","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>recover soon?&nbsp;","text":"$Lion-OCBC Sec HSTECH S$(HST.SI)$recover soon?","images":[{"img":"https://static.tigerbbs.com/6512a6658992f8d94a5a3dd4982d1059","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140055823","isVote":1,"tweetType":1,"viewCount":760,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":153652595,"gmtCreate":1625023490417,"gmtModify":1631883694080,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp; up up up","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp; up up up","text":"$Lion-OCBC Sec HSTECH S$(HST.SI)$ up up up","images":[{"img":"https://static.tigerbbs.com/52885778a173d94805b01d2c762e7cae","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153652595","isVote":1,"tweetType":1,"viewCount":1147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":153652941,"gmtCreate":1625023464783,"gmtModify":1633945712371,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[{"img":"https://static.tigerbbs.com/5d52a201132cf969eb7a0d6118d5e38b","width":"1080","height":"3172"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153652941","isVote":1,"tweetType":1,"viewCount":615,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":127613224,"gmtCreate":1624845841368,"gmtModify":1631883694127,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp;up up up","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp;up up up","text":"$Lion-OCBC Sec HSTECH S$(HST.SI)$ up up up","images":[{"img":"https://static.tigerbbs.com/6ae69cd589c2343c7a69b6d2c2d366ec","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127613224","isVote":1,"tweetType":1,"viewCount":765,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":124759069,"gmtCreate":1624796059251,"gmtModify":1633948556601,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"Up? Or down?&nbsp;","listText":"Up? Or down?&nbsp;","text":"Up? Or down?","images":[{"img":"https://static.tigerbbs.com/d8a3691e3eeecb18b88db0837901dca8","width":"1080","height":"3172"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124759069","isVote":1,"tweetType":1,"viewCount":731,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":124750656,"gmtCreate":1624796003475,"gmtModify":1633948556946,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"What are your thoughts","listText":"What are your thoughts","text":"What are your thoughts","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124750656","repostId":"1184001921","repostType":4,"repost":{"id":"1184001921","kind":"news","pubTimestamp":1624763737,"share":"https://www.laohu8.com/m/news/1184001921?lang=zh_CN&edition=full","pubTime":"2021-06-27 11:15","market":"us","language":"en","title":"Amazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184001921","media":"seekingalpha","summary":"Summary\n\nAmazon is one of the most innovative companies in the world today, leading the E-commerce i","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Amazon is one of the most innovative companies in the world today, leading the E-commerce industry and cloud computing services.</li>  <li>Unfortunately, it's a little overpriced. This is consistent with some of the other mega-cap stocks I've analyzed.</li>  <li>This article looks at what Amazon stock is most likely worth for us investors.</li>  <li>I hope you enjoy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/451bc93115fb453c0fcb76434c40f7f4\" tg-width=\"1536\" tg-height=\"1024\"><span>Sundry Photography/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>亚马逊是当今世界最具创新力的公司之一，在电子商务行业和云计算服务领域处于领先地位。</li><li>不幸的是，它的价格有点过高。这与我分析过的其他一些大型股是一致的。</li><li>本文探讨了亚马逊股票对美国投资者来说最有可能的价值。</li><li>我希望你喜欢。</li></ul><p class=\"t-img-caption\"><span>杂项摄影/iStock社论来自Getty Images</span></p></blockquote></p><p> Today, Amazon (AMZN) seems to be a little overpriced based on my intrinsic value model.</p><p><blockquote>今天，根据我的内在价值模型，亚马逊（AMZN）的定价似乎有点过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a82d937a2de3f0709088e1ab4548267b\" tg-width=\"371\" tg-height=\"260\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> You might have seen some of my other articles where I've bashed other popular stocks like Apple (AAPL) or Microsoft (MSFT). Well, I guess today it's Amazon's turn. I just try to share what I think companies are worth, and I've found that a lot of companies seem to be overpriced.</p><p><blockquote>您可能已经看过我的其他一些文章，其中我抨击了苹果(AAPL)或微软(MSFT)等其他热门股票。嗯，我想今天轮到亚马逊了。我只是试图分享我认为公司的价值，我发现很多公司似乎定价过高。</blockquote></p><p> In this article, I'll break down how I came up with Amazon's valuation. I know that there's tons of different opinions out there about Amazon, so I'll try to share the reasoning behind my valuation to help you make better investments in the future.</p><p><blockquote>在本文中，我将详细介绍我是如何得出亚马逊估值的。我知道关于亚马逊有很多不同的观点，所以我会尝试分享我的估值背后的理由，以帮助您在未来进行更好的投资。</blockquote></p><p> Something important you should know - I'm not an expert on Amazon, and I have a really difficult time valuing growth stocks. I really doubt that I have the ability to estimate a company's future growth. I made future growth estimates by looking at past growth and making conservative estimates of the future.</p><p><blockquote>你应该知道一些重要的事情——我不是亚马逊专家，我很难评估成长型股票。我真的很怀疑我有能力估计一家公司未来的增长。我通过查看过去的增长并对未来做出保守的估计来做出未来的增长估计。</blockquote></p><p> This method borders on \"data extrapolation\", which is making assumptions based on past data. Data extrapolation isn't great because the future is different from the past - so making future projections based on past data isn't ideal.</p><p><blockquote>这种方法近乎“数据外推”，即根据过去的数据做出假设。数据外推并不好，因为未来与过去不同——所以根据过去的数据进行未来预测并不理想。</blockquote></p><p> But after valuing hundreds of companies, I've found that this kind of style does a good job of getting the valuation approximately right. I always try to set my valuations low, because it's better to buy low and make a killing than buy high and lose money.</p><p><blockquote>但在对数百家公司进行估值后，我发现这种风格可以很好地获得大致正确的估值。我总是尽量把我的估值定低，因为低买大赚总比高买亏好。</blockquote></p><p>   Warren Buffett said, “The three most important words in investing are  <b>margin of safety</b>.” That means to buy stuff on sale... That's the whole secret to great investing.    Rule 1 Investing  This model is built on getting the valuation \"approximately right,\" and looking to buy with a large margin of safety. I hope you enjoy, and as always, I'll try to keep it clean and common sense.</p><p><blockquote>沃伦·巴菲特说：“投资中最重要的三个词是<b>安全边际</b>意思是买打折的东西....这就是伟大投资的全部秘密。规则1投资该模型的基础是获得“大致正确”的估值，并寻求以较大的安全边际进行购买。我希望你喜欢，一如既往，我会尽量保持它的干净和常识。</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Where does Amazon get its money? Amazon is split into 3 segments: North America, International, and AWS.</p><p><blockquote>亚马逊的钱从哪里来？亚马逊分为3个部分：北美、国际和AWS。</blockquote></p><p> As a market leader in 2 high growth industries (E-commerce and cloud computing), Amazon will probably continue to see high growth in the future. In this section, I looked at the past revenue growth and operating margins for each of Amazon's segments, and I used this to make conservative future projections.</p><p><blockquote>作为两个高增长行业（电子商务和云计算）的市场领导者，亚马逊未来可能会继续实现高增长。在本节中，我研究了亚马逊每个部门过去的收入增长和营业利润率，并以此做出保守的未来预测。</blockquote></p><p> And later, I added up the numbers from each segment to make projections for the whole company. Here's a look at AMZN's North America segment. This segment's revenue comes from retail sales and subscription service revenues.</p><p><blockquote>后来，我把每个部门的数字加起来，对整个公司进行预测。以下是亚马逊北美业务的概况。该部门的收入来自零售销售和订阅服务收入。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce022c0ecacc3829cf83378211bbfd9d\" tg-width=\"640\" tg-height=\"192\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> I projected declining revenue growth and strong operating margins for this segment. I projected slower revenue growth, because I figure there has to be a cap on how much money Amazon can make in North America.</p><p><blockquote>我预计该部门的收入增长将下降，营业利润率将强劲。我预计收入增长会放缓，因为我认为亚马逊在北美的收入必须有一个上限。</blockquote></p><p> Hopefully, Amazon will exceed this revenue growth. But, I do think it would be a pretty incredible feat for Amazon to grow from $200B in revenue to $400B in 5 years.</p><p><blockquote>希望亚马逊能够超过这一收入增长。但是，我确实认为亚马逊在5年内将收入从2000亿美元增长到4000亿美元将是一个非常令人难以置信的壮举。</blockquote></p><p> Here's a look at Amazon's International segment:</p><p><blockquote>以下是亚马逊国际部门的概况：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3d7a5bde370f55e863f58c888abc496\" tg-width=\"640\" tg-height=\"219\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> For Amazon's international segment, I projected 20% annual revenue growth, and improving operating margins. I figured that operating margins would gradually improve until the margins reached a similar point to what Amazon sees in its US segment.</p><p><blockquote>对于亚马逊的国际部门，我预计年收入将增长20%，营业利润率也将提高。我认为营业利润率将逐渐提高，直到利润率达到与亚马逊在美国市场类似的水平。</blockquote></p><p> And for Amazon's last and most exciting segment, here's AWS:</p><p><blockquote>对于亚马逊最后也是最令人兴奋的部分，AWS是：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/769700013871f2cd09e8ce47cfb10966\" tg-width=\"640\" tg-height=\"203\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> AWS is undoubtedly going to bring high growth for Amazon, and high profits. I projected that the AWS segment will probably continue to grow at a high rate. I projected a 25-30% annual revenue growth rate because cloud computing has a lot of room to grow, and according to Research and Markets, the cloud computing industry should grow at about&nbsp;17.5% CAGR&nbsp;until 2025.</p><p><blockquote>AWS无疑将为亚马逊带来高增长和高利润。我预计AWS细分市场可能会继续高速增长。我预测25-30%的年收入增长率，因为云计算有很大的增长空间，根据研究和市场，云计算行业应该以17.5%的CAGR增长，直到2025年。</blockquote></p><p></p><p> Additionally, I projected 28% operating margins, because the AWS business benefits from operating leverage. As more people use the software, the company is able to make higher margins as it spreads costs over more people. It's possible that Amazon could exceed 28% operating margins, so there might be upside to Amazon's fair value.</p><p><blockquote>此外，我预计营业利润率为28%，因为AWS业务受益于运营杠杆。随着越来越多的人使用该软件，该公司能够通过将成本分摊给更多的人来获得更高的利润。亚马逊的营业利润率可能会超过28%，因此亚马逊的公允价值可能会有上升空间。</blockquote></p><p> These projections were added together to help us figure out what the entire company should be worth.</p><p><blockquote>这些预测加在一起有助于我们计算出整个公司的价值。</blockquote></p><p> <b>Capital Allocation</b></p><p><blockquote><b>资本配置</b></blockquote></p><p> How does Amazon spend its money? You might find it interesting to analyze Amazon's capital allocation, so you can see what Amazon does with its money, and where it might be investing for the future.</p><p><blockquote>亚马逊是怎么花钱的？你可能会发现分析亚马逊的资本配置很有趣，这样你就可以看到亚马逊用它的钱做了什么，以及它未来可能投资到哪里。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45f5afa0f641ee1aae39aa69cc150165\" tg-width=\"619\" tg-height=\"499\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> The biggest portion of Amazon's operating cash flows goes towards capital expenditures. From what I can tell, Amazon has not had any share activity over the past 5 years. The company has issued shares - but from the looks of the cash flow statement, it looks like they haven't raised any money from selling shares, and they haven't spent any money buying back shares.</p><p><blockquote>亚马逊运营现金流的最大部分用于资本支出。据我所知，亚马逊在过去5年里没有任何分享活动。该公司已经发行了股票——但从现金流量表来看，他们似乎没有通过出售股票筹集到任何资金，也没有花任何钱回购股票。</blockquote></p><p>   In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration.  <i>There were no repurchases of common stock in 2018, 2019, or 2020.</i>    Source:2020 10-K&nbsp;page 60,  <i>emphasis added</i>  But for our purposes, this quote shows that Amazon hasn't bought back any stock over the past 3 years. They also haven't spent any money on dividends, which is good because they're a high growth company.</p><p><blockquote>2016年2月，董事会批准了一项回购最多50亿美元普通股的计划，没有固定到期日。<i>2018年、2019年或2020年没有回购普通股。</i>资料来源：2020 10-K第60页，<i>增加了强调</i>但就我们而言，这段报价表明亚马逊在过去3年中没有回购任何股票。他们也没有在股息上花任何钱，这很好，因为他们是一家高增长公司。</blockquote></p><p> Amazon has consistently spent money on acquisitions and paying down debt. What's really interesting is that Amazon has built up a lot of spare cash over the past 5 years. Their cash position has risen about $58B since 2016, going from about $26B at the end of 2016 to about $84B at the end of 2020.</p><p><blockquote>亚马逊一直在收购和偿还债务上花钱。真正有趣的是，亚马逊在过去5年里积累了大量闲钱。自2016年以来，他们的现金头寸增加了约580亿美元，从2016年底的约260亿美元增加到2020年底的约840亿美元。</blockquote></p><p> Amazon has a lot more cash than they used to, so we could see future spending go towards a dividend, share buybacks, new acquisitions, or maybe more business investments that will lead to growth.</p><p><blockquote>亚马逊拥有比以前多得多的现金，因此我们可以看到未来的支出将用于股息、股票回购、新收购，或者更多将带来增长的商业投资。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> First, I used a discount rate of 7.7% for Amazon because that's what I found the company's weighted average cost of capital, or WACC, to be. I assumed an 8% cost of equity, and Amazon has averaged somewhere around a 20-30% tax rate over the past 10 years.</p><p><blockquote>首先，我对亚马逊使用了7.7%的贴现率，因为这是我发现该公司的加权平均资本成本(WACC)。我假设股权成本为8%，而亚马逊在过去10年中的平均税率约为20-30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c036264f19bb10fdad477a629b40f803\" tg-width=\"361\" tg-height=\"288\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> I used a DCF model to find Amazon's value today. In the model down below, you can see in the top 2 red boxes that I projected that the company would have lower revenue growth and strong operating margins.</p><p><blockquote>我今天用DCF模型找到了亚马逊的价值。在下面的模型中，您可以在顶部2个红框中看到，我预计该公司的收入增长将较低，营业利润率将强劲。</blockquote></p><p> This model projects that Amazon will have over $850B in revenue by 2025. That's absolutely nuts if you think about it, but based on estimated revenue growth, it seems feasible.</p><p><blockquote>该模型预计，到2025年，亚马逊的收入将超过8500亿美元。仔细想想，这绝对是疯狂的，但根据估计的收入增长，这似乎是可行的。</blockquote></p><p> Right now, Walmart(NYSE:WMT)leads the world in revenue with about $550B. Amazon sits in third place for annual revenue, with about $390B. In 5 years, Amazon could easily have the largest revenue of any company in the world.</p><p><blockquote>目前，沃尔玛（纽约证券交易所股票代码：WMT）以约550B美元的收入领先全球。亚马逊的年收入排名第三，约为3900亿美元。5年后，亚马逊很可能成为世界上收入最高的公司。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95c459abcbda43e35b40379a1083ecae\" tg-width=\"640\" tg-height=\"510\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Down at the bottom of this model, you can see there's a red box that projects unlevered FCF margins. This basically measures how much of the company's revenue will become business profits, without including interest or debt payments. In the turquoise box, I applied the discount rate to see what the future cash flows are worth today.</p><p><blockquote>在该模型的底部，您可以看到有一个红色框，显示无杠杆自由现金流利润率。这基本上衡量了公司收入中有多少将成为业务利润，不包括利息或债务支付。在绿松石盒子中，我应用了贴现率来查看未来现金流今天的价值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3fa0846616fdc847a3fe1fdf7a09bed\" tg-width=\"267\" tg-height=\"404\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Today, it looks like Amazon is slightly overvalued. The model projects that the stock might be about 15% overvalued, and we could expect to make about 5% annual returns over the next 5 years if we invested today.</p><p><blockquote>如今，亚马逊的估值似乎略有高估。该模型预测该股票可能被高估约15%，如果我们今天投资，我们预计未来5年的年回报率约为5%。</blockquote></p><p> These estimations are based on the future cash flows that the business should generate. I don't hate Amazon or anything, I just don't think that Amazon stock would make a great investment at current prices.</p><p><blockquote>该等估计乃基于业务应产生的未来现金流量。我并不讨厌亚马逊或任何东西，我只是不认为亚马逊股票在当前价格下会是一项伟大的投资。</blockquote></p><p> Down at the bottom, I threw in 2 \"Buy Prices\" where Amazon stock might be more appealing. The idea behind this is that the cheaper AMZN stock gets, the higher returns we can expect.</p><p><blockquote>在底部，我提出了两个亚马逊股票可能更有吸引力的“买入价格”。这背后的想法是，AMZN股票越便宜，我们可以预期的回报就越高。</blockquote></p><p> The model projects that you'd make around 15% annual returns at $2,200 per share, and you might make around 22% annual returns at $1,700 per share.</p><p><blockquote>该模型预计，每股2,200美元的年回报率约为15%，每股1,700美元的年回报率约为22%。</blockquote></p><p> \"But doesn't it seem unreasonable to set the buy price in the $2,000s when the stock's trading near $3,500?\" It does a little bit. It seems pretty unlikely that Amazon's share price will nose dive right down past $2,000.</p><p><blockquote>“但当股票交易价格接近3,500美元时，将买入价格定为2,000美元似乎不合理吗？”有一点。亚马逊的股价似乎不太可能暴跌至2,000美元以上。</blockquote></p><p></p><p> But the idea is, if we're patient, we might get an opportunity to buy these shares underpriced. Last February, Amazon traded lower than $1,900 (I wish I bought some back then). We'll probably have opportunities in the future to buy Amazon at a discount.</p><p><blockquote>但我们的想法是，如果我们有耐心，我们可能有机会以低价购买这些股票。去年2月，亚马逊的交易价格低于1,900美元（我希望当时买了一些）。我们将来可能有机会以折扣价购买亚马逊。</blockquote></p><p> <b>Recap</b></p><p><blockquote><b>回顾</b></blockquote></p><p> Today, it seems like Amazon is slightly overvalued, because it seems to offer about 5% annual returns over the next 5 years. That doesn't mean you should sell Amazon if you're a long time holder, because Amazon should continue to do well as a leader in E-commerce and cloud computing.</p><p><blockquote>如今，亚马逊的估值似乎略有高估，因为它似乎在未来5年内提供约5%的年回报率。这并不意味着如果您是长期持有者，您应该出售亚马逊，因为亚马逊应该继续作为电子商务和云计算领域的领导者表现出色。</blockquote></p><p> But if you're looking for your next stock to invest in, Amazon seems to be too expensive right now. And if you've been eyeing Amazon for a while and you're looking to get in, now's not the best time to get into Amazon.</p><p><blockquote>但如果你正在寻找下一只投资股票，亚马逊现在似乎太贵了。如果您关注亚马逊已经有一段时间了，并且正在寻求进入，那么现在不是进入亚马逊的最佳时机。</blockquote></p><p> Even if we don't invest in the stock, we can still watch Amazon as they become the company with the most revenue in the world. And there's a lot we can learn from studying Amazon and Jeff Bezos. He's a smart dude.</p><p><blockquote>即使我们不投资该股票，我们仍然可以看到亚马逊成为世界上收入最多的公司。我们可以从研究亚马逊和杰夫·贝索斯中学到很多东西。他是个聪明人。</blockquote></p><p> Thank you very much for reading, and I hope that you have a great rest of your day.</p><p><blockquote>非常感谢您的阅读，我希望您今天休息得愉快。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon: Good Stock, Not Good Price<blockquote>亚马逊：好库存，不好价格</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-27 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Amazon is one of the most innovative companies in the world today, leading the E-commerce industry and cloud computing services.</li>  <li>Unfortunately, it's a little overpriced. This is consistent with some of the other mega-cap stocks I've analyzed.</li>  <li>This article looks at what Amazon stock is most likely worth for us investors.</li>  <li>I hope you enjoy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/451bc93115fb453c0fcb76434c40f7f4\" tg-width=\"1536\" tg-height=\"1024\"><span>Sundry Photography/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>亚马逊是当今世界最具创新力的公司之一，在电子商务行业和云计算服务领域处于领先地位。</li><li>不幸的是，它的价格有点过高。这与我分析过的其他一些大型股是一致的。</li><li>本文探讨了亚马逊股票对美国投资者来说最有可能的价值。</li><li>我希望你喜欢。</li></ul><p class=\"t-img-caption\"><span>杂项摄影/iStock社论来自Getty Images</span></p></blockquote></p><p> Today, Amazon (AMZN) seems to be a little overpriced based on my intrinsic value model.</p><p><blockquote>今天，根据我的内在价值模型，亚马逊（AMZN）的定价似乎有点过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a82d937a2de3f0709088e1ab4548267b\" tg-width=\"371\" tg-height=\"260\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> You might have seen some of my other articles where I've bashed other popular stocks like Apple (AAPL) or Microsoft (MSFT). Well, I guess today it's Amazon's turn. I just try to share what I think companies are worth, and I've found that a lot of companies seem to be overpriced.</p><p><blockquote>您可能已经看过我的其他一些文章，其中我抨击了苹果(AAPL)或微软(MSFT)等其他热门股票。嗯，我想今天轮到亚马逊了。我只是试图分享我认为公司的价值，我发现很多公司似乎定价过高。</blockquote></p><p> In this article, I'll break down how I came up with Amazon's valuation. I know that there's tons of different opinions out there about Amazon, so I'll try to share the reasoning behind my valuation to help you make better investments in the future.</p><p><blockquote>在本文中，我将详细介绍我是如何得出亚马逊估值的。我知道关于亚马逊有很多不同的观点，所以我会尝试分享我的估值背后的理由，以帮助您在未来进行更好的投资。</blockquote></p><p> Something important you should know - I'm not an expert on Amazon, and I have a really difficult time valuing growth stocks. I really doubt that I have the ability to estimate a company's future growth. I made future growth estimates by looking at past growth and making conservative estimates of the future.</p><p><blockquote>你应该知道一些重要的事情——我不是亚马逊专家，我很难评估成长型股票。我真的很怀疑我有能力估计一家公司未来的增长。我通过查看过去的增长并对未来做出保守的估计来做出未来的增长估计。</blockquote></p><p> This method borders on \"data extrapolation\", which is making assumptions based on past data. Data extrapolation isn't great because the future is different from the past - so making future projections based on past data isn't ideal.</p><p><blockquote>这种方法近乎“数据外推”，即根据过去的数据做出假设。数据外推并不好，因为未来与过去不同——所以根据过去的数据进行未来预测并不理想。</blockquote></p><p> But after valuing hundreds of companies, I've found that this kind of style does a good job of getting the valuation approximately right. I always try to set my valuations low, because it's better to buy low and make a killing than buy high and lose money.</p><p><blockquote>但在对数百家公司进行估值后，我发现这种风格可以很好地获得大致正确的估值。我总是尽量把我的估值定低，因为低买大赚总比高买亏好。</blockquote></p><p>   Warren Buffett said, “The three most important words in investing are  <b>margin of safety</b>.” That means to buy stuff on sale... That's the whole secret to great investing.    Rule 1 Investing  This model is built on getting the valuation \"approximately right,\" and looking to buy with a large margin of safety. I hope you enjoy, and as always, I'll try to keep it clean and common sense.</p><p><blockquote>沃伦·巴菲特说：“投资中最重要的三个词是<b>安全边际</b>意思是买打折的东西....这就是伟大投资的全部秘密。规则1投资该模型的基础是获得“大致正确”的估值，并寻求以较大的安全边际进行购买。我希望你喜欢，一如既往，我会尽量保持它的干净和常识。</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Where does Amazon get its money? Amazon is split into 3 segments: North America, International, and AWS.</p><p><blockquote>亚马逊的钱从哪里来？亚马逊分为3个部分：北美、国际和AWS。</blockquote></p><p> As a market leader in 2 high growth industries (E-commerce and cloud computing), Amazon will probably continue to see high growth in the future. In this section, I looked at the past revenue growth and operating margins for each of Amazon's segments, and I used this to make conservative future projections.</p><p><blockquote>作为两个高增长行业（电子商务和云计算）的市场领导者，亚马逊未来可能会继续实现高增长。在本节中，我研究了亚马逊每个部门过去的收入增长和营业利润率，并以此做出保守的未来预测。</blockquote></p><p> And later, I added up the numbers from each segment to make projections for the whole company. Here's a look at AMZN's North America segment. This segment's revenue comes from retail sales and subscription service revenues.</p><p><blockquote>后来，我把每个部门的数字加起来，对整个公司进行预测。以下是亚马逊北美业务的概况。该部门的收入来自零售销售和订阅服务收入。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce022c0ecacc3829cf83378211bbfd9d\" tg-width=\"640\" tg-height=\"192\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> I projected declining revenue growth and strong operating margins for this segment. I projected slower revenue growth, because I figure there has to be a cap on how much money Amazon can make in North America.</p><p><blockquote>我预计该部门的收入增长将下降，营业利润率将强劲。我预计收入增长会放缓，因为我认为亚马逊在北美的收入必须有一个上限。</blockquote></p><p> Hopefully, Amazon will exceed this revenue growth. But, I do think it would be a pretty incredible feat for Amazon to grow from $200B in revenue to $400B in 5 years.</p><p><blockquote>希望亚马逊能够超过这一收入增长。但是，我确实认为亚马逊在5年内将收入从2000亿美元增长到4000亿美元将是一个非常令人难以置信的壮举。</blockquote></p><p> Here's a look at Amazon's International segment:</p><p><blockquote>以下是亚马逊国际部门的概况：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3d7a5bde370f55e863f58c888abc496\" tg-width=\"640\" tg-height=\"219\"><span>Source: Author with data from 2018 10-K,2019 10-K, and 2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者使用2018年10-K、2019年10-K和2020年10-K的数据</span></p></blockquote></p><p> For Amazon's international segment, I projected 20% annual revenue growth, and improving operating margins. I figured that operating margins would gradually improve until the margins reached a similar point to what Amazon sees in its US segment.</p><p><blockquote>对于亚马逊的国际部门，我预计年收入将增长20%，营业利润率也将提高。我认为营业利润率将逐渐提高，直到利润率达到与亚马逊在美国市场类似的水平。</blockquote></p><p> And for Amazon's last and most exciting segment, here's AWS:</p><p><blockquote>对于亚马逊最后也是最令人兴奋的部分，AWS是：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/769700013871f2cd09e8ce47cfb10966\" tg-width=\"640\" tg-height=\"203\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> AWS is undoubtedly going to bring high growth for Amazon, and high profits. I projected that the AWS segment will probably continue to grow at a high rate. I projected a 25-30% annual revenue growth rate because cloud computing has a lot of room to grow, and according to Research and Markets, the cloud computing industry should grow at about&nbsp;17.5% CAGR&nbsp;until 2025.</p><p><blockquote>AWS无疑将为亚马逊带来高增长和高利润。我预计AWS细分市场可能会继续高速增长。我预测25-30%的年收入增长率，因为云计算有很大的增长空间，根据研究和市场，云计算行业应该以17.5%的CAGR增长，直到2025年。</blockquote></p><p></p><p> Additionally, I projected 28% operating margins, because the AWS business benefits from operating leverage. As more people use the software, the company is able to make higher margins as it spreads costs over more people. It's possible that Amazon could exceed 28% operating margins, so there might be upside to Amazon's fair value.</p><p><blockquote>此外，我预计营业利润率为28%，因为AWS业务受益于运营杠杆。随着越来越多的人使用该软件，该公司能够通过将成本分摊给更多的人来获得更高的利润。亚马逊的营业利润率可能会超过28%，因此亚马逊的公允价值可能会有上升空间。</blockquote></p><p> These projections were added together to help us figure out what the entire company should be worth.</p><p><blockquote>这些预测加在一起有助于我们计算出整个公司的价值。</blockquote></p><p> <b>Capital Allocation</b></p><p><blockquote><b>资本配置</b></blockquote></p><p> How does Amazon spend its money? You might find it interesting to analyze Amazon's capital allocation, so you can see what Amazon does with its money, and where it might be investing for the future.</p><p><blockquote>亚马逊是怎么花钱的？你可能会发现分析亚马逊的资本配置很有趣，这样你就可以看到亚马逊用它的钱做了什么，以及它未来可能投资到哪里。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45f5afa0f641ee1aae39aa69cc150165\" tg-width=\"619\" tg-height=\"499\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> The biggest portion of Amazon's operating cash flows goes towards capital expenditures. From what I can tell, Amazon has not had any share activity over the past 5 years. The company has issued shares - but from the looks of the cash flow statement, it looks like they haven't raised any money from selling shares, and they haven't spent any money buying back shares.</p><p><blockquote>亚马逊运营现金流的最大部分用于资本支出。据我所知，亚马逊在过去5年里没有任何分享活动。该公司已经发行了股票——但从现金流量表来看，他们似乎没有通过出售股票筹集到任何资金，也没有花任何钱回购股票。</blockquote></p><p>   In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration.  <i>There were no repurchases of common stock in 2018, 2019, or 2020.</i>    Source:2020 10-K&nbsp;page 60,  <i>emphasis added</i>  But for our purposes, this quote shows that Amazon hasn't bought back any stock over the past 3 years. They also haven't spent any money on dividends, which is good because they're a high growth company.</p><p><blockquote>2016年2月，董事会批准了一项回购最多50亿美元普通股的计划，没有固定到期日。<i>2018年、2019年或2020年没有回购普通股。</i>资料来源：2020 10-K第60页，<i>增加了强调</i>但就我们而言，这段报价表明亚马逊在过去3年中没有回购任何股票。他们也没有在股息上花任何钱，这很好，因为他们是一家高增长公司。</blockquote></p><p> Amazon has consistently spent money on acquisitions and paying down debt. What's really interesting is that Amazon has built up a lot of spare cash over the past 5 years. Their cash position has risen about $58B since 2016, going from about $26B at the end of 2016 to about $84B at the end of 2020.</p><p><blockquote>亚马逊一直在收购和偿还债务上花钱。真正有趣的是，亚马逊在过去5年里积累了大量闲钱。自2016年以来，他们的现金头寸增加了约580亿美元，从2016年底的约260亿美元增加到2020年底的约840亿美元。</blockquote></p><p> Amazon has a lot more cash than they used to, so we could see future spending go towards a dividend, share buybacks, new acquisitions, or maybe more business investments that will lead to growth.</p><p><blockquote>亚马逊拥有比以前多得多的现金，因此我们可以看到未来的支出将用于股息、股票回购、新收购，或者更多将带来增长的商业投资。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> First, I used a discount rate of 7.7% for Amazon because that's what I found the company's weighted average cost of capital, or WACC, to be. I assumed an 8% cost of equity, and Amazon has averaged somewhere around a 20-30% tax rate over the past 10 years.</p><p><blockquote>首先，我对亚马逊使用了7.7%的贴现率，因为这是我发现该公司的加权平均资本成本(WACC)。我假设股权成本为8%，而亚马逊在过去10年中的平均税率约为20-30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c036264f19bb10fdad477a629b40f803\" tg-width=\"361\" tg-height=\"288\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> I used a DCF model to find Amazon's value today. In the model down below, you can see in the top 2 red boxes that I projected that the company would have lower revenue growth and strong operating margins.</p><p><blockquote>我今天用DCF模型找到了亚马逊的价值。在下面的模型中，您可以在顶部2个红框中看到，我预计该公司的收入增长将较低，营业利润率将强劲。</blockquote></p><p> This model projects that Amazon will have over $850B in revenue by 2025. That's absolutely nuts if you think about it, but based on estimated revenue growth, it seems feasible.</p><p><blockquote>该模型预计，到2025年，亚马逊的收入将超过8500亿美元。仔细想想，这绝对是疯狂的，但根据估计的收入增长，这似乎是可行的。</blockquote></p><p> Right now, Walmart(NYSE:WMT)leads the world in revenue with about $550B. Amazon sits in third place for annual revenue, with about $390B. In 5 years, Amazon could easily have the largest revenue of any company in the world.</p><p><blockquote>目前，沃尔玛（纽约证券交易所股票代码：WMT）以约550B美元的收入领先全球。亚马逊的年收入排名第三，约为3900亿美元。5年后，亚马逊很可能成为世界上收入最高的公司。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95c459abcbda43e35b40379a1083ecae\" tg-width=\"640\" tg-height=\"510\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Down at the bottom of this model, you can see there's a red box that projects unlevered FCF margins. This basically measures how much of the company's revenue will become business profits, without including interest or debt payments. In the turquoise box, I applied the discount rate to see what the future cash flows are worth today.</p><p><blockquote>在该模型的底部，您可以看到有一个红色框，显示无杠杆自由现金流利润率。这基本上衡量了公司收入中有多少将成为业务利润，不包括利息或债务支付。在绿松石盒子中，我应用了贴现率来查看未来现金流今天的价值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3fa0846616fdc847a3fe1fdf7a09bed\" tg-width=\"267\" tg-height=\"404\"><span>Source: Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> Today, it looks like Amazon is slightly overvalued. The model projects that the stock might be about 15% overvalued, and we could expect to make about 5% annual returns over the next 5 years if we invested today.</p><p><blockquote>如今，亚马逊的估值似乎略有高估。该模型预测该股票可能被高估约15%，如果我们今天投资，我们预计未来5年的年回报率约为5%。</blockquote></p><p> These estimations are based on the future cash flows that the business should generate. I don't hate Amazon or anything, I just don't think that Amazon stock would make a great investment at current prices.</p><p><blockquote>该等估计乃基于业务应产生的未来现金流量。我并不讨厌亚马逊或任何东西，我只是不认为亚马逊股票在当前价格下会是一项伟大的投资。</blockquote></p><p> Down at the bottom, I threw in 2 \"Buy Prices\" where Amazon stock might be more appealing. The idea behind this is that the cheaper AMZN stock gets, the higher returns we can expect.</p><p><blockquote>在底部，我提出了两个亚马逊股票可能更有吸引力的“买入价格”。这背后的想法是，AMZN股票越便宜，我们可以预期的回报就越高。</blockquote></p><p> The model projects that you'd make around 15% annual returns at $2,200 per share, and you might make around 22% annual returns at $1,700 per share.</p><p><blockquote>该模型预计，每股2,200美元的年回报率约为15%，每股1,700美元的年回报率约为22%。</blockquote></p><p> \"But doesn't it seem unreasonable to set the buy price in the $2,000s when the stock's trading near $3,500?\" It does a little bit. It seems pretty unlikely that Amazon's share price will nose dive right down past $2,000.</p><p><blockquote>“但当股票交易价格接近3,500美元时，将买入价格定为2,000美元似乎不合理吗？”有一点。亚马逊的股价似乎不太可能暴跌至2,000美元以上。</blockquote></p><p></p><p> But the idea is, if we're patient, we might get an opportunity to buy these shares underpriced. Last February, Amazon traded lower than $1,900 (I wish I bought some back then). We'll probably have opportunities in the future to buy Amazon at a discount.</p><p><blockquote>但我们的想法是，如果我们有耐心，我们可能有机会以低价购买这些股票。去年2月，亚马逊的交易价格低于1,900美元（我希望当时买了一些）。我们将来可能有机会以折扣价购买亚马逊。</blockquote></p><p> <b>Recap</b></p><p><blockquote><b>回顾</b></blockquote></p><p> Today, it seems like Amazon is slightly overvalued, because it seems to offer about 5% annual returns over the next 5 years. That doesn't mean you should sell Amazon if you're a long time holder, because Amazon should continue to do well as a leader in E-commerce and cloud computing.</p><p><blockquote>如今，亚马逊的估值似乎略有高估，因为它似乎在未来5年内提供约5%的年回报率。这并不意味着如果您是长期持有者，您应该出售亚马逊，因为亚马逊应该继续作为电子商务和云计算领域的领导者表现出色。</blockquote></p><p> But if you're looking for your next stock to invest in, Amazon seems to be too expensive right now. And if you've been eyeing Amazon for a while and you're looking to get in, now's not the best time to get into Amazon.</p><p><blockquote>但如果你正在寻找下一只投资股票，亚马逊现在似乎太贵了。如果您关注亚马逊已经有一段时间了，并且正在寻求进入，那么现在不是进入亚马逊的最佳时机。</blockquote></p><p> Even if we don't invest in the stock, we can still watch Amazon as they become the company with the most revenue in the world. And there's a lot we can learn from studying Amazon and Jeff Bezos. He's a smart dude.</p><p><blockquote>即使我们不投资该股票，我们仍然可以看到亚马逊成为世界上收入最多的公司。我们可以从研究亚马逊和杰夫·贝索斯中学到很多东西。他是个聪明人。</blockquote></p><p> Thank you very much for reading, and I hope that you have a great rest of your day.</p><p><blockquote>非常感谢您的阅读，我希望您今天休息得愉快。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436641-amazon-good-stock-not-good-price\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/article/4436641-amazon-good-stock-not-good-price","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184001921","content_text":"Summary\n\nAmazon is one of the most innovative companies in the world today, leading the E-commerce industry and cloud computing services.\nUnfortunately, it's a little overpriced. This is consistent with some of the other mega-cap stocks I've analyzed.\nThis article looks at what Amazon stock is most likely worth for us investors.\nI hope you enjoy.\n\nSundry Photography/iStock Editorial via Getty Images\nToday, Amazon (AMZN) seems to be a little overpriced based on my intrinsic value model.\nSource: Author\nYou might have seen some of my other articles where I've bashed other popular stocks like Apple (AAPL) or Microsoft (MSFT). Well, I guess today it's Amazon's turn. I just try to share what I think companies are worth, and I've found that a lot of companies seem to be overpriced.\nIn this article, I'll break down how I came up with Amazon's valuation. I know that there's tons of different opinions out there about Amazon, so I'll try to share the reasoning behind my valuation to help you make better investments in the future.\nSomething important you should know - I'm not an expert on Amazon, and I have a really difficult time valuing growth stocks. I really doubt that I have the ability to estimate a company's future growth. I made future growth estimates by looking at past growth and making conservative estimates of the future.\nThis method borders on \"data extrapolation\", which is making assumptions based on past data. Data extrapolation isn't great because the future is different from the past - so making future projections based on past data isn't ideal.\nBut after valuing hundreds of companies, I've found that this kind of style does a good job of getting the valuation approximately right. I always try to set my valuations low, because it's better to buy low and make a killing than buy high and lose money.\n\n Warren Buffett said, “The three most important words in investing are\n margin of safety.” That means to buy stuff on sale... That's the whole secret to great investing.\n\n\n Rule 1 Investing\n\nThis model is built on getting the valuation \"approximately right,\" and looking to buy with a large margin of safety. I hope you enjoy, and as always, I'll try to keep it clean and common sense.\nBusiness Model\nWhere does Amazon get its money? Amazon is split into 3 segments: North America, International, and AWS.\nAs a market leader in 2 high growth industries (E-commerce and cloud computing), Amazon will probably continue to see high growth in the future. In this section, I looked at the past revenue growth and operating margins for each of Amazon's segments, and I used this to make conservative future projections.\nAnd later, I added up the numbers from each segment to make projections for the whole company. Here's a look at AMZN's North America segment. This segment's revenue comes from retail sales and subscription service revenues.\nSource: Author with data from 2018 10-K,2019 10-K, and 2020 10-K\nI projected declining revenue growth and strong operating margins for this segment. I projected slower revenue growth, because I figure there has to be a cap on how much money Amazon can make in North America.\nHopefully, Amazon will exceed this revenue growth. But, I do think it would be a pretty incredible feat for Amazon to grow from $200B in revenue to $400B in 5 years.\nHere's a look at Amazon's International segment:\nSource: Author with data from 2018 10-K,2019 10-K, and 2020 10-K\nFor Amazon's international segment, I projected 20% annual revenue growth, and improving operating margins. I figured that operating margins would gradually improve until the margins reached a similar point to what Amazon sees in its US segment.\nAnd for Amazon's last and most exciting segment, here's AWS:\nSource: Author\nAWS is undoubtedly going to bring high growth for Amazon, and high profits. I projected that the AWS segment will probably continue to grow at a high rate. I projected a 25-30% annual revenue growth rate because cloud computing has a lot of room to grow, and according to Research and Markets, the cloud computing industry should grow at about 17.5% CAGR until 2025.\nAdditionally, I projected 28% operating margins, because the AWS business benefits from operating leverage. As more people use the software, the company is able to make higher margins as it spreads costs over more people. It's possible that Amazon could exceed 28% operating margins, so there might be upside to Amazon's fair value.\nThese projections were added together to help us figure out what the entire company should be worth.\nCapital Allocation\nHow does Amazon spend its money? You might find it interesting to analyze Amazon's capital allocation, so you can see what Amazon does with its money, and where it might be investing for the future.\nSource: Author\nThe biggest portion of Amazon's operating cash flows goes towards capital expenditures. From what I can tell, Amazon has not had any share activity over the past 5 years. The company has issued shares - but from the looks of the cash flow statement, it looks like they haven't raised any money from selling shares, and they haven't spent any money buying back shares.\n\n In February 2016, the Board of Directors authorized a program to repurchase up to $5.0 billion of our common stock, with no fixed expiration.\n There were no repurchases of common stock in 2018, 2019, or 2020.\n\n\n Source:2020 10-K page 60,\n emphasis added\n\nBut for our purposes, this quote shows that Amazon hasn't bought back any stock over the past 3 years. They also haven't spent any money on dividends, which is good because they're a high growth company.\nAmazon has consistently spent money on acquisitions and paying down debt. What's really interesting is that Amazon has built up a lot of spare cash over the past 5 years. Their cash position has risen about $58B since 2016, going from about $26B at the end of 2016 to about $84B at the end of 2020.\nAmazon has a lot more cash than they used to, so we could see future spending go towards a dividend, share buybacks, new acquisitions, or maybe more business investments that will lead to growth.\nValuation\nFirst, I used a discount rate of 7.7% for Amazon because that's what I found the company's weighted average cost of capital, or WACC, to be. I assumed an 8% cost of equity, and Amazon has averaged somewhere around a 20-30% tax rate over the past 10 years.\nSource: Author\nI used a DCF model to find Amazon's value today. In the model down below, you can see in the top 2 red boxes that I projected that the company would have lower revenue growth and strong operating margins.\nThis model projects that Amazon will have over $850B in revenue by 2025. That's absolutely nuts if you think about it, but based on estimated revenue growth, it seems feasible.\nRight now, Walmart(NYSE:WMT)leads the world in revenue with about $550B. Amazon sits in third place for annual revenue, with about $390B. In 5 years, Amazon could easily have the largest revenue of any company in the world.\nSource: Author\nDown at the bottom of this model, you can see there's a red box that projects unlevered FCF margins. This basically measures how much of the company's revenue will become business profits, without including interest or debt payments. In the turquoise box, I applied the discount rate to see what the future cash flows are worth today.\nSource: Author\nToday, it looks like Amazon is slightly overvalued. The model projects that the stock might be about 15% overvalued, and we could expect to make about 5% annual returns over the next 5 years if we invested today.\nThese estimations are based on the future cash flows that the business should generate. I don't hate Amazon or anything, I just don't think that Amazon stock would make a great investment at current prices.\nDown at the bottom, I threw in 2 \"Buy Prices\" where Amazon stock might be more appealing. The idea behind this is that the cheaper AMZN stock gets, the higher returns we can expect.\nThe model projects that you'd make around 15% annual returns at $2,200 per share, and you might make around 22% annual returns at $1,700 per share.\n\"But doesn't it seem unreasonable to set the buy price in the $2,000s when the stock's trading near $3,500?\" It does a little bit. It seems pretty unlikely that Amazon's share price will nose dive right down past $2,000.\nBut the idea is, if we're patient, we might get an opportunity to buy these shares underpriced. Last February, Amazon traded lower than $1,900 (I wish I bought some back then). We'll probably have opportunities in the future to buy Amazon at a discount.\nRecap\nToday, it seems like Amazon is slightly overvalued, because it seems to offer about 5% annual returns over the next 5 years. That doesn't mean you should sell Amazon if you're a long time holder, because Amazon should continue to do well as a leader in E-commerce and cloud computing.\nBut if you're looking for your next stock to invest in, Amazon seems to be too expensive right now. And if you've been eyeing Amazon for a while and you're looking to get in, now's not the best time to get into Amazon.\nEven if we don't invest in the stock, we can still watch Amazon as they become the company with the most revenue in the world. And there's a lot we can learn from studying Amazon and Jeff Bezos. He's a smart dude.\nThank you very much for reading, and I hope that you have a great rest of your day.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":1014,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122467390,"gmtCreate":1624630567110,"gmtModify":1633950299962,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"Go go go","listText":"Go go go","text":"Go go go","images":[{"img":"https://static.tigerbbs.com/7ecb05c26949db13f684b19464e94557","width":"1080","height":"3172"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122467390","isVote":1,"tweetType":1,"viewCount":776,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":122465520,"gmtCreate":1624630526160,"gmtModify":1631883694183,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>go go go","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>go go go","text":"$Lion-OCBC Sec HSTECH S$(HST.SI)$go go go","images":[{"img":"https://static.tigerbbs.com/8b19d3ff5630f205e5f9f21d0b42cf7a","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122465520","isVote":1,"tweetType":1,"viewCount":617,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":126191170,"gmtCreate":1624546674790,"gmtModify":1634004540529,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"Upturn coming?&nbsp;","listText":"Upturn coming?&nbsp;","text":"Upturn coming?","images":[{"img":"https://static.tigerbbs.com/cb07e0e83c70beb8d87c61f7731d37b3","width":"1080","height":"3172"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/126191170","isVote":1,"tweetType":1,"viewCount":884,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":126193377,"gmtCreate":1624546648099,"gmtModify":1634004541457,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up and up","listText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up and up","text":"$Li Auto(LI)$up and up","images":[{"img":"https://static.tigerbbs.com/a3e87ee5e282e6558713ff3276a81490","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/126193377","isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":123492578,"gmtCreate":1624433125394,"gmtModify":1634006195422,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123492578","repostId":"1174713517","repostType":4,"isVote":1,"tweetType":1,"viewCount":342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123492318,"gmtCreate":1624433075234,"gmtModify":1631883694301,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>holding out for uptrend","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>holding out for uptrend","text":"$Lion-OCBC Sec HSTECH S$(HST.SI)$holding out for uptrend","images":[{"img":"https://static.tigerbbs.com/51df05a9bef425f3f70772544dc60c3d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123492318","isVote":1,"tweetType":1,"viewCount":334,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":120054031,"gmtCreate":1624289633823,"gmtModify":1634008295538,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"40 possible?&nbsp;","listText":"40 possible?&nbsp;","text":"40 possible?","images":[{"img":"https://static.tigerbbs.com/5445397b750d6ce97cd56c6121e9f82e","width":"1080","height":"3288"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/120054031","isVote":1,"tweetType":1,"viewCount":540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":120055315,"gmtCreate":1624289606337,"gmtModify":1631885278631,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BAC\">$Bank of America(BAC)$</a>&nbsp;45 possible?&nbsp;","listText":"<a href=\"https://laohu8.com/S/BAC\">$Bank of America(BAC)$</a>&nbsp;45 possible?&nbsp;","text":"$Bank of America(BAC)$ 45 possible?","images":[{"img":"https://static.tigerbbs.com/6f491a7f1b1a072379da120b981e27a7","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/120055315","isVote":1,"tweetType":1,"viewCount":371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":164886016,"gmtCreate":1624192173735,"gmtModify":1631885278639,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BAC\">$Bank of America(BAC)$</a>boom","listText":"<a href=\"https://laohu8.com/S/BAC\">$Bank of America(BAC)$</a>boom","text":"$Bank of America(BAC)$boom","images":[{"img":"https://static.tigerbbs.com/cbec0d2ac09e79659ead831f7e2eb992","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/164886016","isVote":1,"tweetType":1,"viewCount":361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":165168808,"gmtCreate":1624107253504,"gmtModify":1634010635818,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>&nbsp;$40 go go","listText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>&nbsp;$40 go go","text":"$Li Auto(LI)$ $40 go go","images":[{"img":"https://static.tigerbbs.com/cac9d38938477ff2b32bbcdce6742dea","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165168808","isVote":1,"tweetType":1,"viewCount":494,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":168421858,"gmtCreate":1623981421174,"gmtModify":1634024783298,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up to $40?","listText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up to $40?","text":"$Li Auto(LI)$up to $40?","images":[{"img":"https://static.tigerbbs.com/82532ade3d314ad91ae9b97c1b317b06","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/168421858","isVote":1,"tweetType":1,"viewCount":246,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":163739380,"gmtCreate":1623892987040,"gmtModify":1631885278783,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BAC\">$Bank of America(BAC)$</a>up up up","listText":"<a href=\"https://laohu8.com/S/BAC\">$Bank of America(BAC)$</a>up up up","text":"$Bank of America(BAC)$up up up","images":[{"img":"https://static.tigerbbs.com/c5322391bddff164b0ea523205bdddd1","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163739380","isVote":1,"tweetType":1,"viewCount":341,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":163187381,"gmtCreate":1623862849943,"gmtModify":1634026793763,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582406959722542","idStr":"3582406959722542"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/163187381","repostId":"2143792172","repostType":4,"isVote":1,"tweetType":1,"viewCount":324,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":108372885,"gmtCreate":1620002765447,"gmtModify":1634208659810,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"Reply to my comment please","listText":"Reply to my comment please","text":"Reply to my comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/108372885","repostId":"1184469535","repostType":4,"isVote":1,"tweetType":1,"viewCount":669,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130157771,"gmtCreate":1621520415893,"gmtModify":1634188445589,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>recovering","listText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>recovering","text":"$Li Auto(LI)$recovering","images":[{"img":"https://static.tigerbbs.com/200787a82b49f5b4d912d968c4e04e67","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/130157771","isVote":1,"tweetType":1,"viewCount":548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":100538304,"gmtCreate":1619620425308,"gmtModify":1634211266096,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"Comment pls","listText":"Comment pls","text":"Comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/100538304","repostId":"1131068131","repostType":4,"isVote":1,"tweetType":1,"viewCount":446,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117821119,"gmtCreate":1623131562031,"gmtModify":1634036606213,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/117821119","repostId":"1176974493","repostType":4,"repost":{"id":"1176974493","kind":"news","pubTimestamp":1623131372,"share":"https://www.laohu8.com/m/news/1176974493?lang=zh_CN&edition=full","pubTime":"2021-06-08 13:49","market":"us","language":"en","title":"Nio Says Dip Seen In May Deliveries Wasn't Due To Chip Shortage<blockquote>蔚来表示5月份交付量下降并非由于芯片短缺</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176974493","media":"benzinga","summary":"Chinese electric vehicle maker Nio Inc. said that the slight sequential decline in its deliveries fo","content":"<p><div> Chinese electric vehicle maker Nio Inc. said that the slight sequential decline in its deliveries for the month of May was not due to the ongoing global semiconductor chip shortage, ...</p><p><blockquote><div>中国电动汽车制造商蔚来表示，其5月份交付量环比小幅下降并不是由于持续的全球半导体芯片短缺，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/06/21463926/nio-says-dip-seen-in-may-deliveries-wasnt-due-to-chip-shortage\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/06/21463926/nio-says-dip-seen-in-may-deliveries-wasnt-due-to-chip-shortage\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nio Says Dip Seen In May Deliveries Wasn't Due To Chip Shortage<blockquote>蔚来表示5月份交付量下降并非由于芯片短缺</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\">\nNio Says Dip Seen In May Deliveries Wasn't Due To Chip Shortage<blockquote>蔚来表示5月份交付量下降并非由于芯片短缺</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-06-08 13:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Chinese electric vehicle maker Nio Inc. said that the slight sequential decline in its deliveries for the month of May was not due to the ongoing global semiconductor chip shortage, ...</p><p><blockquote><div>中国电动汽车制造商蔚来表示，其5月份交付量环比小幅下降并不是由于持续的全球半导体芯片短缺，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/06/21463926/nio-says-dip-seen-in-may-deliveries-wasnt-due-to-chip-shortage\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/06/21463926/nio-says-dip-seen-in-may-deliveries-wasnt-due-to-chip-shortage\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/06/21463926/nio-says-dip-seen-in-may-deliveries-wasnt-due-to-chip-shortage\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://www.benzinga.com/news/21/06/21463926/nio-says-dip-seen-in-may-deliveries-wasnt-due-to-chip-shortage","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176974493","content_text":"Chinese electric vehicle maker Nio Inc. said that the slight sequential decline in its deliveries for the month of May was not due to the ongoing global semiconductor chip shortage, cnEVpostreportedMonday.What Happened:The main reason for the5.5% declinein Nio’s May deliveries compared to April were due to a change made by the State Taxation Administration (STA) in China’s auto invoice rules, the report quoted Nio co-founder and president Qin Lihong as saying in a media interview. Nio’s May sales surged 95.3% on a year-over-year basis.The STA made the change in the auto invoice rules as previous rules for issuing car invoices may have enabled automakers or dealers to exploit loopholes and create false invoices, according to the report.Qin reportedly said that the change delayed Nio’s average delivery time by four days. Excluding invoicing, the company would have been able to go from order receipt to delivery in a little more than two weeks.Why It Matters:May marked the third straight month of decline in terms of deliveries so far this year for Nio.Nio had said that its May delivery numbers were adversely hurt for several days due to the volatile semiconductor supply and “certain logistical adjustments,” but had not specified what those adjustments were.Price Action: Nio shares closed almost 4.2% higher in Monday’s regular trading session at $43.68, but declined 0.3% in the after-hours session to $43.53.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134414518,"gmtCreate":1622253555534,"gmtModify":1634102771891,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up","listText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up","text":"$Li Auto(LI)$up","images":[{"img":"https://static.tigerbbs.com/0e899cd4e847a5a95ad3a5908c907a95","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/134414518","isVote":1,"tweetType":1,"viewCount":376,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":192993735,"gmtCreate":1621134834527,"gmtModify":1634193846130,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/192993735","repostId":"2135069756","repostType":4,"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190687249,"gmtCreate":1620616401181,"gmtModify":1631883695765,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp;can recover??&nbsp;","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp;can recover??&nbsp;","text":"$Lion-OCBC Sec HSTECH S$(HST.SI)$ can recover??","images":[{"img":"https://static.tigerbbs.com/5e3eefc4f978357af3a0a7aa4e98e15a","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/190687249","isVote":1,"tweetType":1,"viewCount":927,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":102396381,"gmtCreate":1620176322243,"gmtModify":1631883696025,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp;up to 1.5?","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp;up to 1.5?","text":"$Lion-OCBC Sec HSTECH S$(HST.SI)$ up to 1.5?","images":[{"img":"https://static.tigerbbs.com/f981276dba4163c586e62b416edcf12a","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/102396381","isVote":1,"tweetType":1,"viewCount":516,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":108378048,"gmtCreate":1620002664984,"gmtModify":1634208662369,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"Interesting topic","listText":"Interesting topic","text":"Interesting topic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/108378048","repostId":"2132548564","repostType":4,"repost":{"id":"2132548564","kind":"highlight","pubTimestamp":1620001778,"share":"https://www.laohu8.com/m/news/2132548564?lang=zh_CN&edition=full","pubTime":"2021-05-03 08:29","market":"us","language":"en","title":"U.S. stocks have risen to all-time highs this year. Should you ‘sell in May and go away’?<blockquote>美股今年已升至历史新高。你应该“在五月卖掉然后离开”吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2132548564","media":"MarketWatch","summary":"In the past, the sell-in-May strategy shakes out better in Europe than in the U.S.\n\nStocks have been","content":"<p>In the past, the sell-in-May strategy shakes out better in Europe than in the U.S.</p><p><blockquote>过去，五月卖出策略在欧洲的效果比在美国更好。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/18b93b4406770158f62b0e2dd392f424\" tg-width=\"1260\" tg-height=\"822\"></p><p><blockquote></blockquote></p><p> Stocks have been on a tear this year, leaving investors to question whether to \"sell in May and go away.\"</p><p><blockquote>今年股市一直在上涨，让投资者质疑是否“在五月卖出并离开”。</blockquote></p><p> \"With stocks at record highs, some investors may be tempted to follow the old adage,\" a team of strategists at UBS Group's global wealth management division, wrote in a note Friday.</p><p><blockquote>瑞银集团全球财富管理部门的策略师团队周五在一份报告中写道：“随着股市创下历史新高，一些投资者可能会倾向于遵循这句古老的格言。”</blockquote></p><p> The hypothesis is that equities tend to underperform in the six months through October, so investors should sell stocks at the start of May, invest in cash and then re-enter the market in late autumn, the strategists said. Historically, the approach has worked for Europe, but not as well in the U.S., according to their note.</p><p><blockquote>策略师表示，假设股市在截至10月份的六个月内往往表现不佳，因此投资者应该在5月初出售股票，投资现金，然后在深秋重新进入市场。根据他们的报告，从历史上看，这种方法在欧洲很有效，但在美国效果不佳。</blockquote></p><p> \"In the U.S., a stay invested strategy has tended to outperform, particularly in recent years,\" the strategists said. \"Market composition, with the U.S. market more tilted towards growth stocks, partly explains the outperformance.\"</p><p><blockquote>策略师表示：“在美国，保持投资策略往往表现出色，尤其是近年来。”“市场构成，美国市场更倾向于成长型股票，部分解释了表现优异的原因。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b499645739c349ea55647a2512665932\" tg-width=\"1064\" tg-height=\"808\"></p><p><blockquote></blockquote></p><p> The technology sector now accounts for 27% of the S&amp;P 500, or much higher than the 8% weighting for the MSCI Europe index, according to UBS. For that reason, investors who tried timing the U.S. equity benchmark for \"seasonal reasons\" would have missed the outperformance of growth stocks in the bull market since the global financial crisis of 2008-09.</p><p><blockquote>瑞银的数据显示，科技行业目前占标普500的27%，远高于MSCI欧洲指数8%的权重。出于这个原因，试图出于“季节性原因”选择美国股市基准时机的投资者将错过自2008-09年全球金融危机以来成长型股票在牛市中的优异表现。</blockquote></p><p> Using the past as a guide, the UBS team recommends staying invested, even through they also point to historical evidence in Europe that supported a sell-in-May strategy.</p><p><blockquote>瑞银团队以过去为指导，建议保持投资，尽管他们也指出欧洲的历史证据支持5月份的卖出策略。</blockquote></p><p> Over the past 15 years, returns in Europe have been negative in June 80% of the time, according to the report. \"This has contributed to a sell-in-May strategy outperforming a stay invested strategy during those years,\" the strategists said.</p><p><blockquote>报告称，在过去15年中，欧洲6月份80%的回报率为负。策略师表示：“这导致5月份卖出策略的表现优于那些年的继续投资策略。”</blockquote></p><p> Meanwhile, the U.S. stock market has risen to all-time records this year, including as recently as this week, as measured by the S&amp;P 500 and Dow Jones Industrial Average benchmarks. The S&amp;P 500 rose to a record 4,211.47 finish on April 29, for example, and was up 11.3% this year as of Friday's close.</p><p><blockquote>与此同时，根据标普500和道琼斯工业平均指数基准衡量，美国股市今年已升至历史纪录，包括最近的本周。例如，标普500在4月29日升至创纪录的4,211.47点，截至周五收盘，今年已上涨11.3%。</blockquote></p><p> \"We are now entering a time of year when stocks have historically found it more challenging to advance,\" according to the UBS report. \"With many equity indexes making new highs, some measures of sentiment looking extended, and ongoing concerns about the spread of new COVID-19 variants,\" some investors may be contemplating selling.</p><p><blockquote>瑞银的报告称：“我们现在正进入一年中历史上股市上涨更具挑战性的时期。”“随着许多股指创下新高，一些情绪指标看起来有所延长，以及对新的COVID-19变种传播的持续担忧，”一些投资者可能正在考虑抛售。</blockquote></p><p> Billionaire investor Leon Cooperman, a self-described \"fully invested bear,\" told CNBC on Friday that he has \"an eye on the exit\" given a coming expected rise in taxes, inflation and a \"reasonably richly appraised market.\"</p><p><blockquote>自称“完全投资空头”的亿万富翁投资者莱昂·库珀曼(Leon Cooperman)周五对CNBC表示，鉴于税收、通胀和“估值相当高的市场”即将到来，他“正在关注退出”。</blockquote></p><p> Ryan Detrick, chief market strategist for LPL Financial, said in a blog Friday that the six months from May through October have been \"some of the weakest months of the year for stocks\" in the past 10 years. \"But with an accommodative Fed, fiscal and monetary policy, along with an economy that is opening faster than nearly anyone expected, we'd use any weakness as an opportunity to add to positions,\" he said.</p><p><blockquote>LPL Financial首席市场策略师Ryan Detrick周五在博客中表示，5月至10月的六个月是过去10年来“股市一年中最疲软的月份”。他表示：“但随着美联储、财政和货币政策的宽松，以及经济开放速度快于几乎所有人的预期，我们会利用任何疲软作为增仓的机会。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/50be26e2a50ece27ce6023a634a9e705\" tg-width=\"1260\" tg-height=\"725\"></p><p><blockquote></blockquote></p><p> \"Here's the catch,\" Detrick said. \"Stocks have actually been higher during these worst months of the year eight of the past ten years.\"</p><p><blockquote>“问题是，”德特里克说。“在过去十年中最糟糕的八个月里，股市实际上走高。”</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks have risen to all-time highs this year. Should you ‘sell in May and go away’?<blockquote>美股今年已升至历史新高。你应该“在五月卖掉然后离开”吗？</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. stocks have risen to all-time highs this year. Should you ‘sell in May and go away’?<blockquote>美股今年已升至历史新高。你应该“在五月卖掉然后离开”吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-05-03 08:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the past, the sell-in-May strategy shakes out better in Europe than in the U.S.</p><p><blockquote>过去，五月卖出策略在欧洲的效果比在美国更好。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/18b93b4406770158f62b0e2dd392f424\" tg-width=\"1260\" tg-height=\"822\"></p><p><blockquote></blockquote></p><p> Stocks have been on a tear this year, leaving investors to question whether to \"sell in May and go away.\"</p><p><blockquote>今年股市一直在上涨，让投资者质疑是否“在五月卖出并离开”。</blockquote></p><p> \"With stocks at record highs, some investors may be tempted to follow the old adage,\" a team of strategists at UBS Group's global wealth management division, wrote in a note Friday.</p><p><blockquote>瑞银集团全球财富管理部门的策略师团队周五在一份报告中写道：“随着股市创下历史新高，一些投资者可能会倾向于遵循这句古老的格言。”</blockquote></p><p> The hypothesis is that equities tend to underperform in the six months through October, so investors should sell stocks at the start of May, invest in cash and then re-enter the market in late autumn, the strategists said. Historically, the approach has worked for Europe, but not as well in the U.S., according to their note.</p><p><blockquote>策略师表示，假设股市在截至10月份的六个月内往往表现不佳，因此投资者应该在5月初出售股票，投资现金，然后在深秋重新进入市场。根据他们的报告，从历史上看，这种方法在欧洲很有效，但在美国效果不佳。</blockquote></p><p> \"In the U.S., a stay invested strategy has tended to outperform, particularly in recent years,\" the strategists said. \"Market composition, with the U.S. market more tilted towards growth stocks, partly explains the outperformance.\"</p><p><blockquote>策略师表示：“在美国，保持投资策略往往表现出色，尤其是近年来。”“市场构成，美国市场更倾向于成长型股票，部分解释了表现优异的原因。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b499645739c349ea55647a2512665932\" tg-width=\"1064\" tg-height=\"808\"></p><p><blockquote></blockquote></p><p> The technology sector now accounts for 27% of the S&amp;P 500, or much higher than the 8% weighting for the MSCI Europe index, according to UBS. For that reason, investors who tried timing the U.S. equity benchmark for \"seasonal reasons\" would have missed the outperformance of growth stocks in the bull market since the global financial crisis of 2008-09.</p><p><blockquote>瑞银的数据显示，科技行业目前占标普500的27%，远高于MSCI欧洲指数8%的权重。出于这个原因，试图出于“季节性原因”选择美国股市基准时机的投资者将错过自2008-09年全球金融危机以来成长型股票在牛市中的优异表现。</blockquote></p><p> Using the past as a guide, the UBS team recommends staying invested, even through they also point to historical evidence in Europe that supported a sell-in-May strategy.</p><p><blockquote>瑞银团队以过去为指导，建议保持投资，尽管他们也指出欧洲的历史证据支持5月份的卖出策略。</blockquote></p><p> Over the past 15 years, returns in Europe have been negative in June 80% of the time, according to the report. \"This has contributed to a sell-in-May strategy outperforming a stay invested strategy during those years,\" the strategists said.</p><p><blockquote>报告称，在过去15年中，欧洲6月份80%的回报率为负。策略师表示：“这导致5月份卖出策略的表现优于那些年的继续投资策略。”</blockquote></p><p> Meanwhile, the U.S. stock market has risen to all-time records this year, including as recently as this week, as measured by the S&amp;P 500 and Dow Jones Industrial Average benchmarks. The S&amp;P 500 rose to a record 4,211.47 finish on April 29, for example, and was up 11.3% this year as of Friday's close.</p><p><blockquote>与此同时，根据标普500和道琼斯工业平均指数基准衡量，美国股市今年已升至历史纪录，包括最近的本周。例如，标普500在4月29日升至创纪录的4,211.47点，截至周五收盘，今年已上涨11.3%。</blockquote></p><p> \"We are now entering a time of year when stocks have historically found it more challenging to advance,\" according to the UBS report. \"With many equity indexes making new highs, some measures of sentiment looking extended, and ongoing concerns about the spread of new COVID-19 variants,\" some investors may be contemplating selling.</p><p><blockquote>瑞银的报告称：“我们现在正进入一年中历史上股市上涨更具挑战性的时期。”“随着许多股指创下新高，一些情绪指标看起来有所延长，以及对新的COVID-19变种传播的持续担忧，”一些投资者可能正在考虑抛售。</blockquote></p><p> Billionaire investor Leon Cooperman, a self-described \"fully invested bear,\" told CNBC on Friday that he has \"an eye on the exit\" given a coming expected rise in taxes, inflation and a \"reasonably richly appraised market.\"</p><p><blockquote>自称“完全投资空头”的亿万富翁投资者莱昂·库珀曼(Leon Cooperman)周五对CNBC表示，鉴于税收、通胀和“估值相当高的市场”即将到来，他“正在关注退出”。</blockquote></p><p> Ryan Detrick, chief market strategist for LPL Financial, said in a blog Friday that the six months from May through October have been \"some of the weakest months of the year for stocks\" in the past 10 years. \"But with an accommodative Fed, fiscal and monetary policy, along with an economy that is opening faster than nearly anyone expected, we'd use any weakness as an opportunity to add to positions,\" he said.</p><p><blockquote>LPL Financial首席市场策略师Ryan Detrick周五在博客中表示，5月至10月的六个月是过去10年来“股市一年中最疲软的月份”。他表示：“但随着美联储、财政和货币政策的宽松，以及经济开放速度快于几乎所有人的预期，我们会利用任何疲软作为增仓的机会。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/50be26e2a50ece27ce6023a634a9e705\" tg-width=\"1260\" tg-height=\"725\"></p><p><blockquote></blockquote></p><p> \"Here's the catch,\" Detrick said. \"Stocks have actually been higher during these worst months of the year eight of the past ten years.\"</p><p><blockquote>“问题是，”德特里克说。“在过去十年中最糟糕的八个月里，股市实际上走高。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/u-s-stocks-have-risen-to-all-time-highs-this-year-should-you-sell-in-may-and-go-away-11619818845?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SSO":"2倍做多标普500ETF-ProShares","OEF":"标普100指数ETF-iShares","UPRO":"三倍做多标普500ETF-ProShares","IVV":"标普500ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares","OEX":"标普100","SH":"做空标普500-Proshares",".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPXU":"三倍做空标普500ETF-ProShares"},"source_url":"https://www.marketwatch.com/story/u-s-stocks-have-risen-to-all-time-highs-this-year-should-you-sell-in-may-and-go-away-11619818845?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2132548564","content_text":"In the past, the sell-in-May strategy shakes out better in Europe than in the U.S.\n\nStocks have been on a tear this year, leaving investors to question whether to \"sell in May and go away.\"\n\"With stocks at record highs, some investors may be tempted to follow the old adage,\" a team of strategists at UBS Group's global wealth management division, wrote in a note Friday.\nThe hypothesis is that equities tend to underperform in the six months through October, so investors should sell stocks at the start of May, invest in cash and then re-enter the market in late autumn, the strategists said. Historically, the approach has worked for Europe, but not as well in the U.S., according to their note.\n\"In the U.S., a stay invested strategy has tended to outperform, particularly in recent years,\" the strategists said. \"Market composition, with the U.S. market more tilted towards growth stocks, partly explains the outperformance.\"\n\nThe technology sector now accounts for 27% of the S&P 500, or much higher than the 8% weighting for the MSCI Europe index, according to UBS. For that reason, investors who tried timing the U.S. equity benchmark for \"seasonal reasons\" would have missed the outperformance of growth stocks in the bull market since the global financial crisis of 2008-09.\nUsing the past as a guide, the UBS team recommends staying invested, even through they also point to historical evidence in Europe that supported a sell-in-May strategy.\nOver the past 15 years, returns in Europe have been negative in June 80% of the time, according to the report. \"This has contributed to a sell-in-May strategy outperforming a stay invested strategy during those years,\" the strategists said.\nMeanwhile, the U.S. stock market has risen to all-time records this year, including as recently as this week, as measured by the S&P 500 and Dow Jones Industrial Average benchmarks. The S&P 500 rose to a record 4,211.47 finish on April 29, for example, and was up 11.3% this year as of Friday's close.\n\"We are now entering a time of year when stocks have historically found it more challenging to advance,\" according to the UBS report. \"With many equity indexes making new highs, some measures of sentiment looking extended, and ongoing concerns about the spread of new COVID-19 variants,\" some investors may be contemplating selling.\nBillionaire investor Leon Cooperman, a self-described \"fully invested bear,\" told CNBC on Friday that he has \"an eye on the exit\" given a coming expected rise in taxes, inflation and a \"reasonably richly appraised market.\"\nRyan Detrick, chief market strategist for LPL Financial, said in a blog Friday that the six months from May through October have been \"some of the weakest months of the year for stocks\" in the past 10 years. \"But with an accommodative Fed, fiscal and monetary policy, along with an economy that is opening faster than nearly anyone expected, we'd use any weakness as an opportunity to add to positions,\" he said.\n\n\"Here's the catch,\" Detrick said. \"Stocks have actually been higher during these worst months of the year eight of the past ten years.\"","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"UPRO":0.9,"ESmain":0.9,"SSO":0.9,"SH":0.9,"SDS":0.9,".IXIC":0.9,"SPXU":0.9,".SPX":0.9,"IVV":0.9,"OEX":0.9,".DJI":0.9,"OEF":0.9}},"isVote":1,"tweetType":1,"viewCount":684,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108380668,"gmtCreate":1620000275754,"gmtModify":1634208709053,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up to 30?","listText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up to 30?","text":"$Li Auto(LI)$up to 30?","images":[{"img":"https://static.tigerbbs.com/405c78a22c0b24b59e16f1c3c1b617b4","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/108380668","isVote":1,"tweetType":1,"viewCount":745,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3559117231741218","authorId":"3559117231741218","name":"思维决定未来7","avatar":"https://static.tigerbbs.com/38e3c126e0967695053b12c7f0099193","crmLevel":1,"crmLevelSwitch":0,"idStr":"3559117231741218","authorIdStr":"3559117231741218"},"content":"不要急理想汽车还是不错的","text":"不要急理想汽车还是不错的","html":"不要急理想汽车还是不错的"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":163187381,"gmtCreate":1623862849943,"gmtModify":1634026793763,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/163187381","repostId":"2143792172","repostType":4,"isVote":1,"tweetType":1,"viewCount":324,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182129955,"gmtCreate":1623558595277,"gmtModify":1634031706230,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/182129955","repostId":"2142204074","repostType":4,"isVote":1,"tweetType":1,"viewCount":269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183403105,"gmtCreate":1623338481107,"gmtModify":1634034385508,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up up up","listText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>up up up","text":"$Li Auto(LI)$up up up","images":[{"img":"https://static.tigerbbs.com/f4b5dc969b547c0405dd9fcd5295bf05","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/183403105","isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":189907382,"gmtCreate":1623237542146,"gmtModify":1634035515620,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/189907382","repostId":"2142521367","repostType":4,"isVote":1,"tweetType":1,"viewCount":193,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198438317,"gmtCreate":1620978972339,"gmtModify":1631883695557,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp;holding out for recovery","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>&nbsp;holding out for recovery","text":"$Lion-OCBC Sec HSTECH S$(HST.SI)$ holding out for recovery","images":[{"img":"https://static.tigerbbs.com/31e09c750cc57782215bfc7123272cc3","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/198438317","isVote":1,"tweetType":1,"viewCount":417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":100533924,"gmtCreate":1619620325368,"gmtModify":1631886306629,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SBUX\">$Starbucks(SBUX)$</a>up up up","listText":"<a href=\"https://laohu8.com/S/SBUX\">$Starbucks(SBUX)$</a>up up up","text":"$Starbucks(SBUX)$up up up","images":[{"img":"https://static.tigerbbs.com/d16f2c0ec33546bfe47143f949ead49d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/100533924","isVote":1,"tweetType":1,"viewCount":654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":165168808,"gmtCreate":1624107253504,"gmtModify":1634010635818,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>&nbsp;$40 go go","listText":"<a href=\"https://laohu8.com/S/LI\">$Li Auto(LI)$</a>&nbsp;$40 go go","text":"$Li Auto(LI)$ $40 go go","images":[{"img":"https://static.tigerbbs.com/cac9d38938477ff2b32bbcdce6742dea","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165168808","isVote":1,"tweetType":1,"viewCount":494,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":196485161,"gmtCreate":1621092212453,"gmtModify":1634194062433,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"What is snowflake?&nbsp;","listText":"What is snowflake?&nbsp;","text":"What is snowflake?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/196485161","repostId":"1103478451","repostType":4,"isVote":1,"tweetType":1,"viewCount":263,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140055823,"gmtCreate":1625620894862,"gmtModify":1631883693840,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>recover soon?&nbsp;","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>recover soon?&nbsp;","text":"$Lion-OCBC Sec HSTECH S$(HST.SI)$recover soon?","images":[{"img":"https://static.tigerbbs.com/6512a6658992f8d94a5a3dd4982d1059","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140055823","isVote":1,"tweetType":1,"viewCount":760,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":187546184,"gmtCreate":1623760318548,"gmtModify":1634028844257,"author":{"id":"3582406959722542","authorId":"3582406959722542","name":"Nariousac","avatar":"https://static.tigerbbs.com/1de181f779c0ea955a2e4f914fc3c6db","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582406959722542","authorIdStr":"3582406959722542"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/187546184","repostId":"1178091722","repostType":4,"isVote":1,"tweetType":1,"viewCount":152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}