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Class87low

Class87low

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2021-09-16

Really?

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2021-09-01

Long Mickey!

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2021-08-21

I really hope you are right.

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2021-07-27

What’s the next target?

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2021-07-13

Long NIO

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2021-07-12

Great article that gives a good idea of what’s going on. Thanks.

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2021-07-09

How will Google ever fail when it has become a verb and not a noun

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2021-07-07

V shape. Please!

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2021-07-05

How to expect 1 million dozes to be administered by end July? Who would buy?

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2021-07-05

Head they win, tail we lose

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2021-07-04

Actually this sounds like common sense to me. BuyLow, of course. What is Low?

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2021-07-03

Yes we say history always repeats itself, some not all time. As an investor I hope not for this time.

Robinhood’s IPO Could Be a Sign the Stock Market Has Peaked<blockquote>Robinhood的IPO可能是股市已见顶的迹象</blockquote>

2021-06-25

Long Microsoft!

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2021-06-24

Hope the winter of Bitcoin ends soon

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2021-06-23

Join the club

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2021-06-21

All in a game. Human never stop wanting to play games.

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2021-06-20

Up up and away!

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2021-06-19

I wonder how the listing process managed to get thru

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2021-05-11

Please like and comment

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2021-05-08

Like

Forget Dogecoin -- This Stock Is a Better Buy<blockquote>忘记狗狗币——这只股票更值得买入</blockquote>

去老虎APP查看更多动态

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Please!","listText":"V shape. Please!","text":"V shape. Please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140906635","repostId":"1109329042","repostType":4,"isVote":1,"tweetType":1,"viewCount":1385,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155481108,"gmtCreate":1625448910904,"gmtModify":1633940609613,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"How to expect 1 million dozes to be administered by&nbsp;end July? Who would buy?","listText":"How to expect 1 million dozes to be administered by&nbsp;end July? Who would buy?","text":"How to expect 1 million dozes to be administered by end July? Who would buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/155481108","repostId":"2148388731","repostType":4,"isVote":1,"tweetType":1,"viewCount":1077,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155401386,"gmtCreate":1625447428145,"gmtModify":1633940641174,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Head they win, tail we lose","listText":"Head they win, tail we lose","text":"Head they win, tail we lose","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155401386","repostId":"1177847846","repostType":4,"isVote":1,"tweetType":1,"viewCount":2390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155043532,"gmtCreate":1625365530026,"gmtModify":1633941245108,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Actually this sounds like common sense to me. BuyLow, of course. What is Low?","listText":"Actually this sounds like common sense to me. BuyLow, of course. What is Low?","text":"Actually this sounds like common sense to me. BuyLow, of course. What is Low?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155043532","repostId":"1188153141","repostType":4,"isVote":1,"tweetType":1,"viewCount":414,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152862251,"gmtCreate":1625281429673,"gmtModify":1633941782328,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Yes we say history always repeats itself, some not all time. As an investor I hope not for&nbsp;this time.","listText":"Yes we say history always repeats itself, some not all time. As an investor I hope not for&nbsp;this time.","text":"Yes we say history always repeats itself, some not all time. As an investor I hope not for this time.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/152862251","repostId":"1114445293","repostType":4,"repost":{"id":"1114445293","kind":"news","pubTimestamp":1625277820,"share":"https://www.laohu8.com/m/news/1114445293?lang=zh_CN&edition=full","pubTime":"2021-07-03 10:03","market":"us","language":"en","title":"Robinhood’s IPO Could Be a Sign the Stock Market Has Peaked<blockquote>Robinhood的IPO可能是股市已见顶的迹象</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114445293","media":"Barron's","summary":"Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguish","content":"<p>Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguishing aspect of market cycles forever and, most dramatically, in this century. Unlike last year’s pandemic-induced paroxysm, the 2000 bursting of the dot-com bubble and the 2008 financial crisis were marked by initial public offerings by companies eager to seize the moment—and investors’ money.</p><p><blockquote>正如一句老话所说，没有什么比过度更成功的了。直到它没有，这一直是市场周期的显著特征，最引人注目的是在本世纪。与去年大流行引发的爆发不同，2000年互联网泡沫破裂和2008年金融危机的标志是渴望抓住时机和投资者资金的公司进行首次公开募股。</blockquote></p><p> All of which is prologue to what could shape up as this cycle’s bell-ringing event, theinitial public offering of Robinhood, the online broker that pioneered zero commissions and hooked a new generation on investing and trading. Thepaperwork was filedwith the SEC this past week. Financial details about the upstart that purports to democratize investing (and, in the process, was hit with a record$70 million fine by Finra, the brokerage business’s self-regulatory body) are discussedhere, but a few salient points are buried deep in the S-1 filing.</p><p><blockquote>所有这些都是可能成为本周期敲响钟声的事件的序幕，即Robinhood的首次公开募股，这家在线经纪商开创了零佣金的先河，吸引了新一代人进行投资和交易。该文件已于上周提交给SEC。这里讨论了这家声称投资民主化的新贵的财务细节（并在此过程中被经纪业务自律机构Finra处以创纪录的7000万美元罚款），但有几个要点深深地埋藏在S-1文件中。</blockquote></p><p> Customer assets more than quadrupled, to $80.9 billion, on March 31 from the total a year earlier, with the lion’s share—some $65.1 billion—accounted for by equities. Options comprised a relatively small $2 billion in assets, but generated nearly half ($197.9 million) of the March quarter’s $420.4 million in transactions revenue. Stocks produced $133.3 million in revenue, even though assets in equities were 40 times as large as those in options. Revenue from cryptocurrencies totaled $87.6 million, with customers’ crypto assets totaling $11.6 billion.</p><p><blockquote>截至3月31日，客户资产总额比去年同期增加了四倍多，达到809亿美元，其中股票占了最大份额（约651亿美元）。期权资产规模相对较小，为20亿美元，但占3月份季度4.204亿美元交易收入的近一半（1.979亿美元）。尽管股票资产是期权资产的40倍，但股票产生了1.333亿美元的收入。来自加密货币的收入总计8760万美元，客户的加密资产总计116亿美元。</blockquote></p><p> While Robinhood makes much of opening the market to neophyte investors with limited means by letting them buy fractional shares of their favorite stocks, that’s not its biggest business. Instead, it’s speculative options trading, which exploded early this year especially among the YOLO (You Only Live Once) crowd willing to stake a few bucks on cheap, about-to-expire calls of stocks talked up on Reddit.</p><p><blockquote>虽然Robinhood非常重视向手段有限的新手投资者开放市场，让他们购买自己喜欢的股票的部分股票，但这并不是其最大的业务。相反，投机性期权交易在今年早些时候爆发，尤其是在YOLO（你只能活一次）人群中，他们愿意在Reddit上谈论的廉价、即将到期的评级股票上押上几美元。</blockquote></p><p> There are signs that the frenzied trading, which peaked during the winter, has eased with the reopening of the economy and the return to the prepandemic normal (and with it an uptick in Covid cases after a steady decline). Trading crypto might be simpler on a brokerage platform like Robinhood, but wasn’t the advantage of DeFi (decentralized finance) supposed to be that intermediaries wouldn’t be needed at all?</p><p><blockquote>有迹象表明，随着经济重新开放和恢复到大流行前的正常状态（新冠病例在稳步下降后也随之上升），在冬季达到顶峰的疯狂交易已经有所缓解。在Robinhood这样的经纪平台上交易加密货币可能更简单，但DeFi（去中心化金融）的优势不应该是根本不需要中介吗？</blockquote></p><p> Bulls on Robinhood would be betting on continued growth of its independent trading model, rather than investors using passive funds through advisors, which the filing derides. The broker pledged to reserve up to 35% of its IPO for its customers, who are apt to be enthusiastic buyers and, more importantly, hold onto them with “diamond hands” through volatile times.</p><p><blockquote>Robinhood的多头将押注于其独立交易模式的持续增长，而不是投资者通过顾问使用被动基金，文件对此进行了嘲笑。该经纪商承诺为其客户保留高达35%的IPO资金，这些客户往往是热情的买家，更重要的是，在动荡时期用“钻石手”抓住他们。</blockquote></p><p> And, indeed, turbulence, or worse, could lie ahead,Michael Burry told our colleague Connor Smith. Burry, a key player in both the book and film versions of<i>The Big Short</i>, won a fortune by betting against the housing market before the subprime mortgage collapse. More recently, he was an early bull onGamestop(ticker: GME), but took his profits in 2020’s fourth quarter before the frenzy around the original meme stock took off. Now he’s warning that the craze will end in tears.</p><p><blockquote>迈克尔·伯里告诉我们的同事康纳·史密斯，事实上，未来可能会出现动荡，甚至更糟。伯里，书和电影版本中的关键人物<i>大空头</i>，在次贷崩溃之前，通过做空房地产市场而赚了一大笔钱。最近，他是GameStop（股票代码：GME）的早期看涨者，但在围绕原始meme股票的狂热开始之前，他在2020年第四季度获利了结。现在他警告说，这种狂热将以眼泪告终。</blockquote></p><p> “I don’t know when meme stocks such as this will crash, but we probably do not have to wait too long, as I believe the retail crowd is fully invested in this theme, and Wall Street has jumped on the coattails,” he told Connor in an email. “We’re running out of new money available to jump on the bandwagon.”</p><p><blockquote>“我不知道像这样的模因股票什么时候会崩溃，但我们可能不必等太久，因为我相信散户人群已经完全投资于这个主题，而华尔街也抓住了这一机会，”他在一封电子邮件中告诉康纳。“我们已经没有新的资金来跟上潮流了。”</blockquote></p><p> The Robinhood offering wouldn’t be the first stock sale that could be a top-of-the-market event. Back in mid-2007,<i>Barron’s</i>Andrew Bary calledthe IPO ofBlackstone Group(BX) precisely that, just weeks before concerns about excesses of subprime lending rumbled through the global money markets and months before theDow Jones Industrial Averagepeaked the following October.</p><p><blockquote>Robinhood的发行并不是第一次可能成为市场顶级事件的股票销售。早在2007年中期，<i>巴伦周刊</i>安德鲁·巴里(Andrew Bary)正是这样称呼黑石集团(BX)的IPO，就在对过度次级贷款的担忧席卷全球货币市场的几周前，以及道琼斯工业平均指数在次年10月见顶的几个月前。</blockquote></p><p> And who could forget the parade of wacky IPOs in the late 1990s that presaged the potential of the internet, but lacked earnings or revenue or even a viable business plan? By March 2000,<i>Barron’s</i>published itsseminal cover storyrevealing that these dot-com darlings were rapidly burning cash. That very month marked theNasdaq Composite’speak; the index would fall nearly 80% by October 2002.</p><p><blockquote>谁能忘记20世纪90年代末一系列古怪的IPO，这些IPO预示着互联网的潜力，但缺乏盈利或收入，甚至缺乏可行的商业计划？到2000年3月，<i>巴伦周刊</i>发表了开创性的封面故事，揭示了这些互联网宠儿正在迅速烧钱。就在那个月，纳斯达克综合指数发表了讲话；到2002年10月，该指数将下跌近80%。</blockquote></p><p> While Burry warns of a crash in meme stocks from their vastly elevated levels, which some of the companies have exploited by issuing richly valued shares, the overall market—now trading at about 21.5 times estimated earnings for the next 12 months—hasn’t approached the bubble levels of past cycles. But surveys of market strategists and institutional investors see little upside, with year-end targets averaging around 4200 on theS&amp;P 500—shy of Thursday’s close of 4319.</p><p><blockquote>尽管Burry警告称，模因股票将从大幅上涨的水平暴跌（一些公司通过发行估值丰厚的股票来利用这一点），但整体市场——目前的交易价格约为未来12个月预期市盈率的21.5倍——尚未接近过去周期的泡沫水平。但对市场策略师和机构投资者的调查认为上涨空间不大，标准普尔500指数的年终目标平均约为4200点，低于周四收盘价4319点。</blockquote></p><p></p><p> And while it’s always dangerous to say this, it<i>is</i>different this time around from 2000 and 2008. Ahead of crashes in those years, the Federal Reserve had been tightening policy for some time, resulting in a flat-to-negatively sloped yield curve. Shorter-term Treasury yields were pushed above longer-term ones, leading the bond market to predict that the economy was headed for the rocks.</p><p><blockquote>虽然这么说总是很危险，但<i>是</i>这一次与2000年和2008年不同。在那些年的崩盘之前，美联储已经收紧政策一段时间了，导致收益率曲线持平至负斜率。短期国债收益率被推高至长期国债收益率之上，导致债券市场预测经济将走向悬崖。</blockquote></p><p> Now, in contrast, the Fed has only begun talking about talking about reducing its massive purchases of Treasury and agency mortgage-backed securities. That would be preparation for the initial liftoff of the Fed’s key federal-funds target rate, currently in a rock-bottom 0% to 0.25% range, in 2022 at the earliest and maybe not until 2023.</p><p><blockquote>现在，相比之下，美联储才刚刚开始谈论减少对美国国债和机构抵押贷款支持证券的大量购买。这将为美联储关键联邦基金目标利率的初步上调做准备，目前该利率处于0%至0.25%的最低范围，最早将于2022年，也可能要到2023年。</blockquote></p><p> The yield curve has flattened a bit in the past three months, with thespread between the two- and 10-year notenarrowing to 1.23 percentage points (still a sign of an accommodative policy), from 1.59 points on March 29, according to the St. Louis Fed.</p><p><blockquote>根据圣路易斯的数据，过去三个月收益率曲线略有平坦，2年期和10年期国债之间的利差从3月29日的1.59个百分点收窄至1.23个百分点（仍然是宽松政策的迹象）美联储。</blockquote></p><p> But there is also a psychological element at play in any market frenzy. “Most investors also seem to view the stock market as a force of nature itself. They do not fully realize that they themselves, as a group, determine the level of the market,” Nobel laureate Robert Shiller wrote in his now-classic book<i>Irrational Exuberance</i>.</p><p><blockquote>但任何市场狂热也有心理因素在起作用。诺贝尔奖得主罗伯特·席勒在他的经典著作中写道：“大多数投资者似乎也将股市本身视为一种自然力量。他们没有充分意识到，作为一个群体，他们自己决定了市场的水平。”<i>非理性繁荣</i>.</blockquote></p><p> “In short, the price level is driven to a certain extent by a self-fulfilling prophecy, based on similar hunches held by a vast cross-section of large and small investors and reinforced by news media that are often content to ratify this investor-induced conventional wisdom.”</p><p><blockquote>“简而言之，价格水平在一定程度上是由自我实现的预言驱动的，该预言基于广大大小投资者持有的类似预感，并得到新闻媒体的强化，这些媒体往往满足于认可这种投资者诱导的传统智慧。”</blockquote></p><p> Readers can weigh the relevance of the point about traders’ hunches to the Robinhood IPO. As for the latter statement regarding the media, we demur; contrary opinion rather than conventional wisdom has been<i>Barron’s</i>credo in the century since its founding.</p><p><blockquote>读者可以权衡交易者的预感与Robinhood IPO的相关性。至于后一种关于媒体的说法，我们表示反对；相反的意见而不是传统的智慧<i>巴伦周刊</i>自成立以来的一个世纪里的信条。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Robinhood’s IPO Could Be a Sign the Stock Market Has Peaked<blockquote>Robinhood的IPO可能是股市已见顶的迹象</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\">\nRobinhood’s IPO Could Be a Sign the Stock Market Has Peaked<blockquote>Robinhood的IPO可能是股市已见顶的迹象</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-07-03 10:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguishing aspect of market cycles forever and, most dramatically, in this century. Unlike last year’s pandemic-induced paroxysm, the 2000 bursting of the dot-com bubble and the 2008 financial crisis were marked by initial public offerings by companies eager to seize the moment—and investors’ money.</p><p><blockquote>正如一句老话所说，没有什么比过度更成功的了。直到它没有，这一直是市场周期的显著特征，最引人注目的是在本世纪。与去年大流行引发的爆发不同，2000年互联网泡沫破裂和2008年金融危机的标志是渴望抓住时机和投资者资金的公司进行首次公开募股。</blockquote></p><p> All of which is prologue to what could shape up as this cycle’s bell-ringing event, theinitial public offering of Robinhood, the online broker that pioneered zero commissions and hooked a new generation on investing and trading. Thepaperwork was filedwith the SEC this past week. Financial details about the upstart that purports to democratize investing (and, in the process, was hit with a record$70 million fine by Finra, the brokerage business’s self-regulatory body) are discussedhere, but a few salient points are buried deep in the S-1 filing.</p><p><blockquote>所有这些都是可能成为本周期敲响钟声的事件的序幕，即Robinhood的首次公开募股，这家在线经纪商开创了零佣金的先河，吸引了新一代人进行投资和交易。该文件已于上周提交给SEC。这里讨论了这家声称投资民主化的新贵的财务细节（并在此过程中被经纪业务自律机构Finra处以创纪录的7000万美元罚款），但有几个要点深深地埋藏在S-1文件中。</blockquote></p><p> Customer assets more than quadrupled, to $80.9 billion, on March 31 from the total a year earlier, with the lion’s share—some $65.1 billion—accounted for by equities. Options comprised a relatively small $2 billion in assets, but generated nearly half ($197.9 million) of the March quarter’s $420.4 million in transactions revenue. Stocks produced $133.3 million in revenue, even though assets in equities were 40 times as large as those in options. Revenue from cryptocurrencies totaled $87.6 million, with customers’ crypto assets totaling $11.6 billion.</p><p><blockquote>截至3月31日，客户资产总额比去年同期增加了四倍多，达到809亿美元，其中股票占了最大份额（约651亿美元）。期权资产规模相对较小，为20亿美元，但占3月份季度4.204亿美元交易收入的近一半（1.979亿美元）。尽管股票资产是期权资产的40倍，但股票产生了1.333亿美元的收入。来自加密货币的收入总计8760万美元，客户的加密资产总计116亿美元。</blockquote></p><p> While Robinhood makes much of opening the market to neophyte investors with limited means by letting them buy fractional shares of their favorite stocks, that’s not its biggest business. Instead, it’s speculative options trading, which exploded early this year especially among the YOLO (You Only Live Once) crowd willing to stake a few bucks on cheap, about-to-expire calls of stocks talked up on Reddit.</p><p><blockquote>虽然Robinhood非常重视向手段有限的新手投资者开放市场，让他们购买自己喜欢的股票的部分股票，但这并不是其最大的业务。相反，投机性期权交易在今年早些时候爆发，尤其是在YOLO（你只能活一次）人群中，他们愿意在Reddit上谈论的廉价、即将到期的评级股票上押上几美元。</blockquote></p><p> There are signs that the frenzied trading, which peaked during the winter, has eased with the reopening of the economy and the return to the prepandemic normal (and with it an uptick in Covid cases after a steady decline). Trading crypto might be simpler on a brokerage platform like Robinhood, but wasn’t the advantage of DeFi (decentralized finance) supposed to be that intermediaries wouldn’t be needed at all?</p><p><blockquote>有迹象表明，随着经济重新开放和恢复到大流行前的正常状态（新冠病例在稳步下降后也随之上升），在冬季达到顶峰的疯狂交易已经有所缓解。在Robinhood这样的经纪平台上交易加密货币可能更简单，但DeFi（去中心化金融）的优势不应该是根本不需要中介吗？</blockquote></p><p> Bulls on Robinhood would be betting on continued growth of its independent trading model, rather than investors using passive funds through advisors, which the filing derides. The broker pledged to reserve up to 35% of its IPO for its customers, who are apt to be enthusiastic buyers and, more importantly, hold onto them with “diamond hands” through volatile times.</p><p><blockquote>Robinhood的多头将押注于其独立交易模式的持续增长，而不是投资者通过顾问使用被动基金，文件对此进行了嘲笑。该经纪商承诺为其客户保留高达35%的IPO资金，这些客户往往是热情的买家，更重要的是，在动荡时期用“钻石手”抓住他们。</blockquote></p><p> And, indeed, turbulence, or worse, could lie ahead,Michael Burry told our colleague Connor Smith. Burry, a key player in both the book and film versions of<i>The Big Short</i>, won a fortune by betting against the housing market before the subprime mortgage collapse. More recently, he was an early bull onGamestop(ticker: GME), but took his profits in 2020’s fourth quarter before the frenzy around the original meme stock took off. Now he’s warning that the craze will end in tears.</p><p><blockquote>迈克尔·伯里告诉我们的同事康纳·史密斯，事实上，未来可能会出现动荡，甚至更糟。伯里，书和电影版本中的关键人物<i>大空头</i>，在次贷崩溃之前，通过做空房地产市场而赚了一大笔钱。最近，他是GameStop（股票代码：GME）的早期看涨者，但在围绕原始meme股票的狂热开始之前，他在2020年第四季度获利了结。现在他警告说，这种狂热将以眼泪告终。</blockquote></p><p> “I don’t know when meme stocks such as this will crash, but we probably do not have to wait too long, as I believe the retail crowd is fully invested in this theme, and Wall Street has jumped on the coattails,” he told Connor in an email. “We’re running out of new money available to jump on the bandwagon.”</p><p><blockquote>“我不知道像这样的模因股票什么时候会崩溃，但我们可能不必等太久，因为我相信散户人群已经完全投资于这个主题，而华尔街也抓住了这一机会，”他在一封电子邮件中告诉康纳。“我们已经没有新的资金来跟上潮流了。”</blockquote></p><p> The Robinhood offering wouldn’t be the first stock sale that could be a top-of-the-market event. Back in mid-2007,<i>Barron’s</i>Andrew Bary calledthe IPO ofBlackstone Group(BX) precisely that, just weeks before concerns about excesses of subprime lending rumbled through the global money markets and months before theDow Jones Industrial Averagepeaked the following October.</p><p><blockquote>Robinhood的发行并不是第一次可能成为市场顶级事件的股票销售。早在2007年中期，<i>巴伦周刊</i>安德鲁·巴里(Andrew Bary)正是这样称呼黑石集团(BX)的IPO，就在对过度次级贷款的担忧席卷全球货币市场的几周前，以及道琼斯工业平均指数在次年10月见顶的几个月前。</blockquote></p><p> And who could forget the parade of wacky IPOs in the late 1990s that presaged the potential of the internet, but lacked earnings or revenue or even a viable business plan? By March 2000,<i>Barron’s</i>published itsseminal cover storyrevealing that these dot-com darlings were rapidly burning cash. That very month marked theNasdaq Composite’speak; the index would fall nearly 80% by October 2002.</p><p><blockquote>谁能忘记20世纪90年代末一系列古怪的IPO，这些IPO预示着互联网的潜力，但缺乏盈利或收入，甚至缺乏可行的商业计划？到2000年3月，<i>巴伦周刊</i>发表了开创性的封面故事，揭示了这些互联网宠儿正在迅速烧钱。就在那个月，纳斯达克综合指数发表了讲话；到2002年10月，该指数将下跌近80%。</blockquote></p><p> While Burry warns of a crash in meme stocks from their vastly elevated levels, which some of the companies have exploited by issuing richly valued shares, the overall market—now trading at about 21.5 times estimated earnings for the next 12 months—hasn’t approached the bubble levels of past cycles. But surveys of market strategists and institutional investors see little upside, with year-end targets averaging around 4200 on theS&amp;P 500—shy of Thursday’s close of 4319.</p><p><blockquote>尽管Burry警告称，模因股票将从大幅上涨的水平暴跌（一些公司通过发行估值丰厚的股票来利用这一点），但整体市场——目前的交易价格约为未来12个月预期市盈率的21.5倍——尚未接近过去周期的泡沫水平。但对市场策略师和机构投资者的调查认为上涨空间不大，标准普尔500指数的年终目标平均约为4200点，低于周四收盘价4319点。</blockquote></p><p></p><p> And while it’s always dangerous to say this, it<i>is</i>different this time around from 2000 and 2008. Ahead of crashes in those years, the Federal Reserve had been tightening policy for some time, resulting in a flat-to-negatively sloped yield curve. Shorter-term Treasury yields were pushed above longer-term ones, leading the bond market to predict that the economy was headed for the rocks.</p><p><blockquote>虽然这么说总是很危险，但<i>是</i>这一次与2000年和2008年不同。在那些年的崩盘之前，美联储已经收紧政策一段时间了，导致收益率曲线持平至负斜率。短期国债收益率被推高至长期国债收益率之上，导致债券市场预测经济将走向悬崖。</blockquote></p><p> Now, in contrast, the Fed has only begun talking about talking about reducing its massive purchases of Treasury and agency mortgage-backed securities. That would be preparation for the initial liftoff of the Fed’s key federal-funds target rate, currently in a rock-bottom 0% to 0.25% range, in 2022 at the earliest and maybe not until 2023.</p><p><blockquote>现在，相比之下，美联储才刚刚开始谈论减少对美国国债和机构抵押贷款支持证券的大量购买。这将为美联储关键联邦基金目标利率的初步上调做准备，目前该利率处于0%至0.25%的最低范围，最早将于2022年，也可能要到2023年。</blockquote></p><p> The yield curve has flattened a bit in the past three months, with thespread between the two- and 10-year notenarrowing to 1.23 percentage points (still a sign of an accommodative policy), from 1.59 points on March 29, according to the St. Louis Fed.</p><p><blockquote>根据圣路易斯的数据，过去三个月收益率曲线略有平坦，2年期和10年期国债之间的利差从3月29日的1.59个百分点收窄至1.23个百分点（仍然是宽松政策的迹象）美联储。</blockquote></p><p> But there is also a psychological element at play in any market frenzy. “Most investors also seem to view the stock market as a force of nature itself. They do not fully realize that they themselves, as a group, determine the level of the market,” Nobel laureate Robert Shiller wrote in his now-classic book<i>Irrational Exuberance</i>.</p><p><blockquote>但任何市场狂热也有心理因素在起作用。诺贝尔奖得主罗伯特·席勒在他的经典著作中写道：“大多数投资者似乎也将股市本身视为一种自然力量。他们没有充分意识到，作为一个群体，他们自己决定了市场的水平。”<i>非理性繁荣</i>.</blockquote></p><p> “In short, the price level is driven to a certain extent by a self-fulfilling prophecy, based on similar hunches held by a vast cross-section of large and small investors and reinforced by news media that are often content to ratify this investor-induced conventional wisdom.”</p><p><blockquote>“简而言之，价格水平在一定程度上是由自我实现的预言驱动的，该预言基于广大大小投资者持有的类似预感，并得到新闻媒体的强化，这些媒体往往满足于认可这种投资者诱导的传统智慧。”</blockquote></p><p> Readers can weigh the relevance of the point about traders’ hunches to the Robinhood IPO. As for the latter statement regarding the media, we demur; contrary opinion rather than conventional wisdom has been<i>Barron’s</i>credo in the century since its founding.</p><p><blockquote>读者可以权衡交易者的预感与Robinhood IPO的相关性。至于后一种关于媒体的说法，我们表示反对；相反的意见而不是传统的智慧<i>巴伦周刊</i>自成立以来的一个世纪里的信条。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/analyst-explains-why-netflix-should-sell-ads-51624987059\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/analyst-explains-why-netflix-should-sell-ads-51624987059","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114445293","content_text":"Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguishing aspect of market cycles forever and, most dramatically, in this century. Unlike last year’s pandemic-induced paroxysm, the 2000 bursting of the dot-com bubble and the 2008 financial crisis were marked by initial public offerings by companies eager to seize the moment—and investors’ money.\nAll of which is prologue to what could shape up as this cycle’s bell-ringing event, theinitial public offering of Robinhood, the online broker that pioneered zero commissions and hooked a new generation on investing and trading. Thepaperwork was filedwith the SEC this past week. Financial details about the upstart that purports to democratize investing (and, in the process, was hit with a record$70 million fine by Finra, the brokerage business’s self-regulatory body) are discussedhere, but a few salient points are buried deep in the S-1 filing.\nCustomer assets more than quadrupled, to $80.9 billion, on March 31 from the total a year earlier, with the lion’s share—some $65.1 billion—accounted for by equities. Options comprised a relatively small $2 billion in assets, but generated nearly half ($197.9 million) of the March quarter’s $420.4 million in transactions revenue. Stocks produced $133.3 million in revenue, even though assets in equities were 40 times as large as those in options. Revenue from cryptocurrencies totaled $87.6 million, with customers’ crypto assets totaling $11.6 billion.\nWhile Robinhood makes much of opening the market to neophyte investors with limited means by letting them buy fractional shares of their favorite stocks, that’s not its biggest business. Instead, it’s speculative options trading, which exploded early this year especially among the YOLO (You Only Live Once) crowd willing to stake a few bucks on cheap, about-to-expire calls of stocks talked up on Reddit.\nThere are signs that the frenzied trading, which peaked during the winter, has eased with the reopening of the economy and the return to the prepandemic normal (and with it an uptick in Covid cases after a steady decline). Trading crypto might be simpler on a brokerage platform like Robinhood, but wasn’t the advantage of DeFi (decentralized finance) supposed to be that intermediaries wouldn’t be needed at all?\nBulls on Robinhood would be betting on continued growth of its independent trading model, rather than investors using passive funds through advisors, which the filing derides. The broker pledged to reserve up to 35% of its IPO for its customers, who are apt to be enthusiastic buyers and, more importantly, hold onto them with “diamond hands” through volatile times.\nAnd, indeed, turbulence, or worse, could lie ahead,Michael Burry told our colleague Connor Smith. Burry, a key player in both the book and film versions ofThe Big Short, won a fortune by betting against the housing market before the subprime mortgage collapse. More recently, he was an early bull onGamestop(ticker: GME), but took his profits in 2020’s fourth quarter before the frenzy around the original meme stock took off. Now he’s warning that the craze will end in tears.\n“I don’t know when meme stocks such as this will crash, but we probably do not have to wait too long, as I believe the retail crowd is fully invested in this theme, and Wall Street has jumped on the coattails,” he told Connor in an email. “We’re running out of new money available to jump on the bandwagon.”\nThe Robinhood offering wouldn’t be the first stock sale that could be a top-of-the-market event. Back in mid-2007,Barron’sAndrew Bary calledthe IPO ofBlackstone Group(BX) precisely that, just weeks before concerns about excesses of subprime lending rumbled through the global money markets and months before theDow Jones Industrial Averagepeaked the following October.\nAnd who could forget the parade of wacky IPOs in the late 1990s that presaged the potential of the internet, but lacked earnings or revenue or even a viable business plan? By March 2000,Barron’spublished itsseminal cover storyrevealing that these dot-com darlings were rapidly burning cash. That very month marked theNasdaq Composite’speak; the index would fall nearly 80% by October 2002.\nWhile Burry warns of a crash in meme stocks from their vastly elevated levels, which some of the companies have exploited by issuing richly valued shares, the overall market—now trading at about 21.5 times estimated earnings for the next 12 months—hasn’t approached the bubble levels of past cycles. But surveys of market strategists and institutional investors see little upside, with year-end targets averaging around 4200 on theS&P 500—shy of Thursday’s close of 4319.\nAnd while it’s always dangerous to say this, itisdifferent this time around from 2000 and 2008. Ahead of crashes in those years, the Federal Reserve had been tightening policy for some time, resulting in a flat-to-negatively sloped yield curve. Shorter-term Treasury yields were pushed above longer-term ones, leading the bond market to predict that the economy was headed for the rocks.\nNow, in contrast, the Fed has only begun talking about talking about reducing its massive purchases of Treasury and agency mortgage-backed securities. That would be preparation for the initial liftoff of the Fed’s key federal-funds target rate, currently in a rock-bottom 0% to 0.25% range, in 2022 at the earliest and maybe not until 2023.\nThe yield curve has flattened a bit in the past three months, with thespread between the two- and 10-year notenarrowing to 1.23 percentage points (still a sign of an accommodative policy), from 1.59 points on March 29, according to the St. Louis Fed.\nBut there is also a psychological element at play in any market frenzy. “Most investors also seem to view the stock market as a force of nature itself. They do not fully realize that they themselves, as a group, determine the level of the market,” Nobel laureate Robert Shiller wrote in his now-classic bookIrrational Exuberance.\n“In short, the price level is driven to a certain extent by a self-fulfilling prophecy, based on similar hunches held by a vast cross-section of large and small investors and reinforced by news media that are often content to ratify this investor-induced conventional wisdom.”\nReaders can weigh the relevance of the point about traders’ hunches to the Robinhood IPO. As for the latter statement regarding the media, we demur; contrary opinion rather than conventional wisdom has beenBarron’scredo in the century since its founding.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":534,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122035474,"gmtCreate":1624587557598,"gmtModify":1633950866239,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Long Microsoft!","listText":"Long Microsoft!","text":"Long Microsoft!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122035474","repostId":"1193737129","repostType":4,"isVote":1,"tweetType":1,"viewCount":435,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128927027,"gmtCreate":1624498885069,"gmtModify":1631884323440,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Hope the winter of Bitcoin ends soon","listText":"Hope the winter of Bitcoin ends soon","text":"Hope the winter of Bitcoin ends soon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/128927027","repostId":"1170004118","repostType":4,"isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123161675,"gmtCreate":1624412475997,"gmtModify":1634006498144,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Join the club&nbsp;","listText":"Join the club&nbsp;","text":"Join the club","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123161675","repostId":"1139503540","repostType":4,"isVote":1,"tweetType":1,"viewCount":460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164752303,"gmtCreate":1624237400202,"gmtModify":1634009155441,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"All in a game. Human never stop wanting to play games.","listText":"All in a game. Human never stop wanting to play games.","text":"All in a game. Human never stop wanting to play games.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/164752303","repostId":"2145470425","repostType":4,"isVote":1,"tweetType":1,"viewCount":481,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164999866,"gmtCreate":1624164088055,"gmtModify":1634009936504,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Up up and away!","listText":"Up up and away!","text":"Up up and away!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/164999866","repostId":"1126454279","repostType":4,"isVote":1,"tweetType":1,"viewCount":475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162494482,"gmtCreate":1624070489146,"gmtModify":1634011109448,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"I wonder how the listing process managed to get thru","listText":"I wonder how the listing process managed to get thru","text":"I wonder how the listing process managed to get thru","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/162494482","repostId":"1161408410","repostType":4,"isVote":1,"tweetType":1,"viewCount":453,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":199635692,"gmtCreate":1620698970316,"gmtModify":1634197007747,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Please like and comment","listText":"Please like and comment","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/199635692","repostId":"1138978946","repostType":4,"isVote":1,"tweetType":1,"viewCount":507,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107364218,"gmtCreate":1620446117034,"gmtModify":1634198692209,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/107364218","repostId":"1117194592","repostType":4,"repost":{"id":"1117194592","kind":"news","pubTimestamp":1620443747,"share":"https://www.laohu8.com/m/news/1117194592?lang=zh_CN&edition=full","pubTime":"2021-05-08 11:15","market":"us","language":"en","title":"Forget Dogecoin -- This Stock Is a Better Buy<blockquote>忘记狗狗币——这只股票更值得买入</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117194592","media":"fool","summary":"It's probably a safe bet to say that many of the buyers of Dogecoin did so because they are hoping t","content":"<p>It's probably a safe bet to say that many of the buyers of&nbsp;<b>Dogecoin</b>&nbsp;did so because they are hoping the meme cryptocurrency will go \"to the moon.\" But it'shard to make a real investment casefor something that jumps -- or drops -- 26% in value in the course of a day's trading just becauseElon MuskorMark Cubanmentions it in a tweet.</p><p><blockquote>可以肯定地说，许多买家<b>狗狗币</b>这样做是因为他们希望迷因加密货币能够“登上月球”。但仅仅因为埃隆·马斯克马克·库班(Elon MuskorMark Cuban)在推文中提到，就很难为一天交易过程中价值上涨或下跌26%的东西做出真正的投资案例。</blockquote></p><p>Investors looking for a moonshot investment would be better served to take a flier on a company in a sector that promises to create a fundamental shift in an existing industry. Electric vehicle (EV) sales are expected to jump from 1.7 million in 2020 to 8.5 million just by 2025, and to 26 million 10 years from now, according to industry research provider<i>BloombergNEF</i>. And the firm expects EV sales to more than double again in the following 10 years.</p><p><blockquote>寻求登月投资的投资者最好选择一家有望给现有行业带来根本性转变的公司。据行业研究提供商称，电动汽车(EV)销量预计将从2020年的170万辆跃升至2025年的850万辆，10年后将增至2600万辆<i>彭博新能源财经</i>.该公司预计未来10年电动汽车销量将再次增长一倍以上。</blockquote></p><p>Charging station network leader&nbsp;<b>ChargePoint Holdings</b>(NYSE:CHPT)&nbsp;is established in the business, and investors in this company could ride the explosive EV growth trend.</p><p><blockquote>充电站网络领导者<b>ChargePoint控股</b>（纽约证券交易所股票代码：CHPT）已在该业务中成立，该公司的投资者可以驾驭电动汽车爆炸性增长趋势。</blockquote></p><p><b>De-SPAC results</b></p><p><blockquote><b>特殊目的收购公司并购业绩</b></blockquote></p><p>ChargePoint went public on March 1 through a special purpose acquisition company (SPAC) merger. But unlike somede-SPAC companiesin the EV space, the company has so far met its sales expectations and kept its future outlook unchanged. That's because it was already an established business before going public, with more than 4,000 commercial and fleet customers, and more than 132,000 charging locations on its network in North America and Europe.</p><p><blockquote>ChargePoint于3月1日通过特殊目的收购公司(SPAC)合并上市。但与电动汽车领域的一些特殊目的收购公司不同，该公司迄今为止已达到销售预期，并保持未来前景不变。这是因为它在上市之前就已经是一家成熟的企业，在北美和欧洲的网络上拥有4,000多个商业和车队客户，以及超过132,000个充电点。</blockquote></p><p>There is, and will be, plenty of competition in this space. But ChargePoint exists as one of the largest compared to other domestic and international players. Past and estimated future revenue of several in the sector are shown below.</p><p><blockquote>这个领域现在和将来都会有很多竞争。但与其他国内外参与者相比，ChargePoint是最大的参与者之一。该行业几家公司的过去和预计未来收入如下所示。</blockquote></p><p><table><tbody><tr><th>Company</th><th>2021 Revenue Estimate (million)</th><th>2020 Revenue (million)</th></tr><tr><td>ChargePoint</td><td>$200</td><td>$146</td></tr><tr><td>EVBox</td><td>$145</td><td>$84</td></tr><tr><td>Volta</td><td>$47</td><td>$25</td></tr><tr><td>EVgo</td><td>$20</td><td>$14</td></tr><tr><td>Blink Charging</td><td>NP*</td><td>$6.2</td></tr></tbody></table>DATA SOURCE: COMPANY FINANCIALS. *NOT PROVIDED</p><p><blockquote><table><tbody><tr><th>公司</th><th>2021年收入预测（百万）</th><th>2020年收入（百万）</th></tr><tr><td>充电点</td><td>$200</td><td>$146</td></tr><tr><td>EVBox</td><td>$145</td><td>$84</td></tr><tr><td>沃尔特</td><td>$47</td><td>$25</td></tr><tr><td>EVgo</td><td>$20</td><td>$14</td></tr><tr><td>闪烁充电</td><td>NP*</td><td>$6.2</td></tr></tbody></table>数据来源：公司财务。*未提供</blockquote></p><p><b>ChargePoint is the current favorite</b></p><p><blockquote><b>ChargePoint是当前的最爱</b></blockquote></p><p>ChargePoint already has a large lead in North America with a 70% share of Level 2 charging networks, which use 240-volt power. Its comprehensive network of offerings also includes more than 2,000 publicly available fast-charging stations. Its suite of products caters to the needs of EV fleet owners, parking operators, and consumers, as well as corporations and municipalities.</p><p><blockquote>ChargePoint在北美已经遥遥领先，在使用240伏电源的2级充电网络中占有70%的份额。其全面的产品网络还包括2,000多个公共快速充电站。其产品套件可满足电动汽车车主、停车运营商和消费者以及企业和市政当局的需求。</blockquote></p><p>And in a sign of how large the market can grow, President Joe Biden has proposed installing 500,000 new charging stations in the U.S. as part of an infrastructure initiative. He also intends to electrify bus fleets and government vehicle fleets. While ChargePoint supports the infrastructure package, and would almost certainly be a beneficiary of its passage, the company doesn't need that catalyst for its charging network to grow rapidly.</p><p><blockquote>作为基础设施计划的一部分，乔·拜登总统提议在美国安装50万个新充电站，这表明市场可以增长多大。他还打算让公交车队和政府车队电气化。虽然ChargePoint支持基础设施一揽子计划，并且几乎肯定会成为其通过的受益者，但该公司并不需要这种催化剂来使其充电网络快速增长。</blockquote></p><p><b>Investors should play the odds and think long-term</b></p><p><blockquote><b>投资者应把握机遇，着眼长远</b></blockquote></p><p>Betting on the EV sector is not a short-term strategy. But if the exponential global growth to more than 54 million vehicles by 2040 materializes, today's high valuations in the sector could eventually be more than justified. Just looking at the two with the highest and lowest 2020 revenue, respectively, theprice-to-sales ratiosare about 50 for ChargePoint, but 250 for&nbsp;<b>Blink Charging</b>(NASDAQ:BLNK).</p><p><blockquote>押注电动汽车行业不是短期策略。但如果到2040年全球汽车保有量实现超过5400万辆的指数增长，那么该行业目前的高估值最终可能是合理的。仅从2020年收入最高和最低的两家公司来看，ChargePoint的市销率约为50，但ChargePoint的市销率为250<b>闪烁充电</b>（纳斯达克：BLNK）。</blockquote></p><p>A bet on the charging network sector has no guarantee of success, of course. It's possible that automakers will try to have proprietary networks similar to&nbsp;<b>Tesla</b>'s(NASDAQ:TSLA)supercharger network model. But asautomakersramp up EV production, it would seem to make more sense for them to focus on what they know best, potentially including battery production.</p><p><blockquote>当然，押注充电网络领域并不能保证成功。汽车制造商可能会尝试拥有类似于<b>特斯拉</b>（纳斯达克：TSLA）的超级充电网络模型。但随着汽车制造商提高电动汽车产量，他们专注于自己最了解的领域（可能包括电池生产）似乎更有意义。</blockquote></p><p>For an investor wanting to speculate for big gains, charging companies have an established business in a quickly growing sector. Dogecoin keeps going up as Elon Musk or others excite retail trader interest. But if that's the only reason it's rising, it can't continue long term. A charging company like ChargePoint should have better odds at providing long-term gains.</p><p><blockquote>对于想要投机获取巨额收益的投资者来说，充电公司在快速增长的行业中拥有成熟的业务。随着埃隆·马斯克或其他人激发散户的兴趣，狗狗币持续上涨。但如果这是它上涨的唯一原因，它就不可能长期持续下去。像ChargePoint这样的充电公司应该更有可能提供长期收益。</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>Forget Dogecoin -- This Stock Is a Better Buy<blockquote>忘记狗狗币——这只股票更值得买入</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\">\nForget Dogecoin -- This Stock Is a Better Buy<blockquote>忘记狗狗币——这只股票更值得买入</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">fool</strong><span class=\"h-time small\">2021-05-08 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It's probably a safe bet to say that many of the buyers of&nbsp;<b>Dogecoin</b>&nbsp;did so because they are hoping the meme cryptocurrency will go \"to the moon.\" But it'shard to make a real investment casefor something that jumps -- or drops -- 26% in value in the course of a day's trading just becauseElon MuskorMark Cubanmentions it in a tweet.</p><p><blockquote>可以肯定地说，许多买家<b>狗狗币</b>这样做是因为他们希望迷因加密货币能够“登上月球”。但仅仅因为埃隆·马斯克马克·库班(Elon MuskorMark Cuban)在推文中提到，就很难为一天交易过程中价值上涨或下跌26%的东西做出真正的投资案例。</blockquote></p><p>Investors looking for a moonshot investment would be better served to take a flier on a company in a sector that promises to create a fundamental shift in an existing industry. Electric vehicle (EV) sales are expected to jump from 1.7 million in 2020 to 8.5 million just by 2025, and to 26 million 10 years from now, according to industry research provider<i>BloombergNEF</i>. And the firm expects EV sales to more than double again in the following 10 years.</p><p><blockquote>寻求登月投资的投资者最好选择一家有望给现有行业带来根本性转变的公司。据行业研究提供商称，电动汽车(EV)销量预计将从2020年的170万辆跃升至2025年的850万辆，10年后将增至2600万辆<i>彭博新能源财经</i>.该公司预计未来10年电动汽车销量将再次增长一倍以上。</blockquote></p><p>Charging station network leader&nbsp;<b>ChargePoint Holdings</b>(NYSE:CHPT)&nbsp;is established in the business, and investors in this company could ride the explosive EV growth trend.</p><p><blockquote>充电站网络领导者<b>ChargePoint控股</b>（纽约证券交易所股票代码：CHPT）已在该业务中成立，该公司的投资者可以驾驭电动汽车爆炸性增长趋势。</blockquote></p><p><b>De-SPAC results</b></p><p><blockquote><b>特殊目的收购公司并购业绩</b></blockquote></p><p>ChargePoint went public on March 1 through a special purpose acquisition company (SPAC) merger. But unlike somede-SPAC companiesin the EV space, the company has so far met its sales expectations and kept its future outlook unchanged. That's because it was already an established business before going public, with more than 4,000 commercial and fleet customers, and more than 132,000 charging locations on its network in North America and Europe.</p><p><blockquote>ChargePoint于3月1日通过特殊目的收购公司(SPAC)合并上市。但与电动汽车领域的一些特殊目的收购公司不同，该公司迄今为止已达到销售预期，并保持未来前景不变。这是因为它在上市之前就已经是一家成熟的企业，在北美和欧洲的网络上拥有4,000多个商业和车队客户，以及超过132,000个充电点。</blockquote></p><p>There is, and will be, plenty of competition in this space. But ChargePoint exists as one of the largest compared to other domestic and international players. Past and estimated future revenue of several in the sector are shown below.</p><p><blockquote>这个领域现在和将来都会有很多竞争。但与其他国内外参与者相比，ChargePoint是最大的参与者之一。该行业几家公司的过去和预计未来收入如下所示。</blockquote></p><p><table><tbody><tr><th>Company</th><th>2021 Revenue Estimate (million)</th><th>2020 Revenue (million)</th></tr><tr><td>ChargePoint</td><td>$200</td><td>$146</td></tr><tr><td>EVBox</td><td>$145</td><td>$84</td></tr><tr><td>Volta</td><td>$47</td><td>$25</td></tr><tr><td>EVgo</td><td>$20</td><td>$14</td></tr><tr><td>Blink Charging</td><td>NP*</td><td>$6.2</td></tr></tbody></table>DATA SOURCE: COMPANY FINANCIALS. *NOT PROVIDED</p><p><blockquote><table><tbody><tr><th>公司</th><th>2021年收入预测（百万）</th><th>2020年收入（百万）</th></tr><tr><td>充电点</td><td>$200</td><td>$146</td></tr><tr><td>EVBox</td><td>$145</td><td>$84</td></tr><tr><td>沃尔特</td><td>$47</td><td>$25</td></tr><tr><td>EVgo</td><td>$20</td><td>$14</td></tr><tr><td>闪烁充电</td><td>NP*</td><td>$6.2</td></tr></tbody></table>数据来源：公司财务。*未提供</blockquote></p><p><b>ChargePoint is the current favorite</b></p><p><blockquote><b>ChargePoint是当前的最爱</b></blockquote></p><p>ChargePoint already has a large lead in North America with a 70% share of Level 2 charging networks, which use 240-volt power. Its comprehensive network of offerings also includes more than 2,000 publicly available fast-charging stations. Its suite of products caters to the needs of EV fleet owners, parking operators, and consumers, as well as corporations and municipalities.</p><p><blockquote>ChargePoint在北美已经遥遥领先，在使用240伏电源的2级充电网络中占有70%的份额。其全面的产品网络还包括2,000多个公共快速充电站。其产品套件可满足电动汽车车主、停车运营商和消费者以及企业和市政当局的需求。</blockquote></p><p>And in a sign of how large the market can grow, President Joe Biden has proposed installing 500,000 new charging stations in the U.S. as part of an infrastructure initiative. He also intends to electrify bus fleets and government vehicle fleets. While ChargePoint supports the infrastructure package, and would almost certainly be a beneficiary of its passage, the company doesn't need that catalyst for its charging network to grow rapidly.</p><p><blockquote>作为基础设施计划的一部分，乔·拜登总统提议在美国安装50万个新充电站，这表明市场可以增长多大。他还打算让公交车队和政府车队电气化。虽然ChargePoint支持基础设施一揽子计划，并且几乎肯定会成为其通过的受益者，但该公司并不需要这种催化剂来使其充电网络快速增长。</blockquote></p><p><b>Investors should play the odds and think long-term</b></p><p><blockquote><b>投资者应把握机遇，着眼长远</b></blockquote></p><p>Betting on the EV sector is not a short-term strategy. But if the exponential global growth to more than 54 million vehicles by 2040 materializes, today's high valuations in the sector could eventually be more than justified. Just looking at the two with the highest and lowest 2020 revenue, respectively, theprice-to-sales ratiosare about 50 for ChargePoint, but 250 for&nbsp;<b>Blink Charging</b>(NASDAQ:BLNK).</p><p><blockquote>押注电动汽车行业不是短期策略。但如果到2040年全球汽车保有量实现超过5400万辆的指数增长，那么该行业目前的高估值最终可能是合理的。仅从2020年收入最高和最低的两家公司来看，ChargePoint的市销率约为50，但ChargePoint的市销率为250<b>闪烁充电</b>（纳斯达克：BLNK）。</blockquote></p><p>A bet on the charging network sector has no guarantee of success, of course. It's possible that automakers will try to have proprietary networks similar to&nbsp;<b>Tesla</b>'s(NASDAQ:TSLA)supercharger network model. But asautomakersramp up EV production, it would seem to make more sense for them to focus on what they know best, potentially including battery production.</p><p><blockquote>当然，押注充电网络领域并不能保证成功。汽车制造商可能会尝试拥有类似于<b>特斯拉</b>（纳斯达克：TSLA）的超级充电网络模型。但随着汽车制造商提高电动汽车产量，他们专注于自己最了解的领域（可能包括电池生产）似乎更有意义。</blockquote></p><p>For an investor wanting to speculate for big gains, charging companies have an established business in a quickly growing sector. Dogecoin keeps going up as Elon Musk or others excite retail trader interest. But if that's the only reason it's rising, it can't continue long term. A charging company like ChargePoint should have better odds at providing long-term gains.</p><p><blockquote>对于想要投机获取巨额收益的投资者来说，充电公司在快速增长的行业中拥有成熟的业务。随着埃隆·马斯克或其他人激发散户的兴趣，狗狗币持续上涨。但如果这是它上涨的唯一原因，它就不可能长期持续下去。像ChargePoint这样的充电公司应该更有可能提供长期收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/05/07/forget-dogecoin-this-stock-is-a-better-buy/\">fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CHPT":"ChargePoint Holdings Inc."},"source_url":"https://www.fool.com/investing/2021/05/07/forget-dogecoin-this-stock-is-a-better-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117194592","content_text":"It's probably a safe bet to say that many of the buyers of Dogecoin did so because they are hoping the meme cryptocurrency will go \"to the moon.\" But it'shard to make a real investment casefor something that jumps -- or drops -- 26% in value in the course of a day's trading just becauseElon MuskorMark Cubanmentions it in a tweet.Investors looking for a moonshot investment would be better served to take a flier on a company in a sector that promises to create a fundamental shift in an existing industry. Electric vehicle (EV) sales are expected to jump from 1.7 million in 2020 to 8.5 million just by 2025, and to 26 million 10 years from now, according to industry research providerBloombergNEF. And the firm expects EV sales to more than double again in the following 10 years.Charging station network leader ChargePoint Holdings(NYSE:CHPT) is established in the business, and investors in this company could ride the explosive EV growth trend.De-SPAC resultsChargePoint went public on March 1 through a special purpose acquisition company (SPAC) merger. But unlike somede-SPAC companiesin the EV space, the company has so far met its sales expectations and kept its future outlook unchanged. That's because it was already an established business before going public, with more than 4,000 commercial and fleet customers, and more than 132,000 charging locations on its network in North America and Europe.There is, and will be, plenty of competition in this space. But ChargePoint exists as one of the largest compared to other domestic and international players. Past and estimated future revenue of several in the sector are shown below.Company2021 Revenue Estimate (million)2020 Revenue (million)ChargePoint$200$146EVBox$145$84Volta$47$25EVgo$20$14Blink ChargingNP*$6.2DATA SOURCE: COMPANY FINANCIALS. *NOT PROVIDEDChargePoint is the current favoriteChargePoint already has a large lead in North America with a 70% share of Level 2 charging networks, which use 240-volt power. Its comprehensive network of offerings also includes more than 2,000 publicly available fast-charging stations. Its suite of products caters to the needs of EV fleet owners, parking operators, and consumers, as well as corporations and municipalities.And in a sign of how large the market can grow, President Joe Biden has proposed installing 500,000 new charging stations in the U.S. as part of an infrastructure initiative. He also intends to electrify bus fleets and government vehicle fleets. While ChargePoint supports the infrastructure package, and would almost certainly be a beneficiary of its passage, the company doesn't need that catalyst for its charging network to grow rapidly.Investors should play the odds and think long-termBetting on the EV sector is not a short-term strategy. But if the exponential global growth to more than 54 million vehicles by 2040 materializes, today's high valuations in the sector could eventually be more than justified. Just looking at the two with the highest and lowest 2020 revenue, respectively, theprice-to-sales ratiosare about 50 for ChargePoint, but 250 for Blink Charging(NASDAQ:BLNK).A bet on the charging network sector has no guarantee of success, of course. It's possible that automakers will try to have proprietary networks similar to Tesla's(NASDAQ:TSLA)supercharger network model. But asautomakersramp up EV production, it would seem to make more sense for them to focus on what they know best, potentially including battery production.For an investor wanting to speculate for big gains, charging companies have an established business in a quickly growing sector. Dogecoin keeps going up as Elon Musk or others excite retail trader interest. But if that's the only reason it's rising, it can't continue long term. A charging company like ChargePoint should have better odds at providing long-term gains.","news_type":1,"symbols_score_info":{"CHPT":0.9}},"isVote":1,"tweetType":1,"viewCount":653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":152862251,"gmtCreate":1625281429673,"gmtModify":1633941782328,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Yes we say history always repeats itself, some not all time. As an investor I hope not for&nbsp;this time.","listText":"Yes we say history always repeats itself, some not all time. As an investor I hope not for&nbsp;this time.","text":"Yes we say history always repeats itself, some not all time. As an investor I hope not for this time.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/152862251","repostId":"1114445293","repostType":4,"repost":{"id":"1114445293","kind":"news","pubTimestamp":1625277820,"share":"https://www.laohu8.com/m/news/1114445293?lang=zh_CN&edition=full","pubTime":"2021-07-03 10:03","market":"us","language":"en","title":"Robinhood’s IPO Could Be a Sign the Stock Market Has Peaked<blockquote>Robinhood的IPO可能是股市已见顶的迹象</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114445293","media":"Barron's","summary":"Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguish","content":"<p>Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguishing aspect of market cycles forever and, most dramatically, in this century. Unlike last year’s pandemic-induced paroxysm, the 2000 bursting of the dot-com bubble and the 2008 financial crisis were marked by initial public offerings by companies eager to seize the moment—and investors’ money.</p><p><blockquote>正如一句老话所说，没有什么比过度更成功的了。直到它没有，这一直是市场周期的显著特征，最引人注目的是在本世纪。与去年大流行引发的爆发不同，2000年互联网泡沫破裂和2008年金融危机的标志是渴望抓住时机和投资者资金的公司进行首次公开募股。</blockquote></p><p> All of which is prologue to what could shape up as this cycle’s bell-ringing event, theinitial public offering of Robinhood, the online broker that pioneered zero commissions and hooked a new generation on investing and trading. Thepaperwork was filedwith the SEC this past week. Financial details about the upstart that purports to democratize investing (and, in the process, was hit with a record$70 million fine by Finra, the brokerage business’s self-regulatory body) are discussedhere, but a few salient points are buried deep in the S-1 filing.</p><p><blockquote>所有这些都是可能成为本周期敲响钟声的事件的序幕，即Robinhood的首次公开募股，这家在线经纪商开创了零佣金的先河，吸引了新一代人进行投资和交易。该文件已于上周提交给SEC。这里讨论了这家声称投资民主化的新贵的财务细节（并在此过程中被经纪业务自律机构Finra处以创纪录的7000万美元罚款），但有几个要点深深地埋藏在S-1文件中。</blockquote></p><p> Customer assets more than quadrupled, to $80.9 billion, on March 31 from the total a year earlier, with the lion’s share—some $65.1 billion—accounted for by equities. Options comprised a relatively small $2 billion in assets, but generated nearly half ($197.9 million) of the March quarter’s $420.4 million in transactions revenue. Stocks produced $133.3 million in revenue, even though assets in equities were 40 times as large as those in options. Revenue from cryptocurrencies totaled $87.6 million, with customers’ crypto assets totaling $11.6 billion.</p><p><blockquote>截至3月31日，客户资产总额比去年同期增加了四倍多，达到809亿美元，其中股票占了最大份额（约651亿美元）。期权资产规模相对较小，为20亿美元，但占3月份季度4.204亿美元交易收入的近一半（1.979亿美元）。尽管股票资产是期权资产的40倍，但股票产生了1.333亿美元的收入。来自加密货币的收入总计8760万美元，客户的加密资产总计116亿美元。</blockquote></p><p> While Robinhood makes much of opening the market to neophyte investors with limited means by letting them buy fractional shares of their favorite stocks, that’s not its biggest business. Instead, it’s speculative options trading, which exploded early this year especially among the YOLO (You Only Live Once) crowd willing to stake a few bucks on cheap, about-to-expire calls of stocks talked up on Reddit.</p><p><blockquote>虽然Robinhood非常重视向手段有限的新手投资者开放市场，让他们购买自己喜欢的股票的部分股票，但这并不是其最大的业务。相反，投机性期权交易在今年早些时候爆发，尤其是在YOLO（你只能活一次）人群中，他们愿意在Reddit上谈论的廉价、即将到期的评级股票上押上几美元。</blockquote></p><p> There are signs that the frenzied trading, which peaked during the winter, has eased with the reopening of the economy and the return to the prepandemic normal (and with it an uptick in Covid cases after a steady decline). Trading crypto might be simpler on a brokerage platform like Robinhood, but wasn’t the advantage of DeFi (decentralized finance) supposed to be that intermediaries wouldn’t be needed at all?</p><p><blockquote>有迹象表明，随着经济重新开放和恢复到大流行前的正常状态（新冠病例在稳步下降后也随之上升），在冬季达到顶峰的疯狂交易已经有所缓解。在Robinhood这样的经纪平台上交易加密货币可能更简单，但DeFi（去中心化金融）的优势不应该是根本不需要中介吗？</blockquote></p><p> Bulls on Robinhood would be betting on continued growth of its independent trading model, rather than investors using passive funds through advisors, which the filing derides. The broker pledged to reserve up to 35% of its IPO for its customers, who are apt to be enthusiastic buyers and, more importantly, hold onto them with “diamond hands” through volatile times.</p><p><blockquote>Robinhood的多头将押注于其独立交易模式的持续增长，而不是投资者通过顾问使用被动基金，文件对此进行了嘲笑。该经纪商承诺为其客户保留高达35%的IPO资金，这些客户往往是热情的买家，更重要的是，在动荡时期用“钻石手”抓住他们。</blockquote></p><p> And, indeed, turbulence, or worse, could lie ahead,Michael Burry told our colleague Connor Smith. Burry, a key player in both the book and film versions of<i>The Big Short</i>, won a fortune by betting against the housing market before the subprime mortgage collapse. More recently, he was an early bull onGamestop(ticker: GME), but took his profits in 2020’s fourth quarter before the frenzy around the original meme stock took off. Now he’s warning that the craze will end in tears.</p><p><blockquote>迈克尔·伯里告诉我们的同事康纳·史密斯，事实上，未来可能会出现动荡，甚至更糟。伯里，书和电影版本中的关键人物<i>大空头</i>，在次贷崩溃之前，通过做空房地产市场而赚了一大笔钱。最近，他是GameStop（股票代码：GME）的早期看涨者，但在围绕原始meme股票的狂热开始之前，他在2020年第四季度获利了结。现在他警告说，这种狂热将以眼泪告终。</blockquote></p><p> “I don’t know when meme stocks such as this will crash, but we probably do not have to wait too long, as I believe the retail crowd is fully invested in this theme, and Wall Street has jumped on the coattails,” he told Connor in an email. “We’re running out of new money available to jump on the bandwagon.”</p><p><blockquote>“我不知道像这样的模因股票什么时候会崩溃，但我们可能不必等太久，因为我相信散户人群已经完全投资于这个主题，而华尔街也抓住了这一机会，”他在一封电子邮件中告诉康纳。“我们已经没有新的资金来跟上潮流了。”</blockquote></p><p> The Robinhood offering wouldn’t be the first stock sale that could be a top-of-the-market event. Back in mid-2007,<i>Barron’s</i>Andrew Bary calledthe IPO ofBlackstone Group(BX) precisely that, just weeks before concerns about excesses of subprime lending rumbled through the global money markets and months before theDow Jones Industrial Averagepeaked the following October.</p><p><blockquote>Robinhood的发行并不是第一次可能成为市场顶级事件的股票销售。早在2007年中期，<i>巴伦周刊</i>安德鲁·巴里(Andrew Bary)正是这样称呼黑石集团(BX)的IPO，就在对过度次级贷款的担忧席卷全球货币市场的几周前，以及道琼斯工业平均指数在次年10月见顶的几个月前。</blockquote></p><p> And who could forget the parade of wacky IPOs in the late 1990s that presaged the potential of the internet, but lacked earnings or revenue or even a viable business plan? By March 2000,<i>Barron’s</i>published itsseminal cover storyrevealing that these dot-com darlings were rapidly burning cash. That very month marked theNasdaq Composite’speak; the index would fall nearly 80% by October 2002.</p><p><blockquote>谁能忘记20世纪90年代末一系列古怪的IPO，这些IPO预示着互联网的潜力，但缺乏盈利或收入，甚至缺乏可行的商业计划？到2000年3月，<i>巴伦周刊</i>发表了开创性的封面故事，揭示了这些互联网宠儿正在迅速烧钱。就在那个月，纳斯达克综合指数发表了讲话；到2002年10月，该指数将下跌近80%。</blockquote></p><p> While Burry warns of a crash in meme stocks from their vastly elevated levels, which some of the companies have exploited by issuing richly valued shares, the overall market—now trading at about 21.5 times estimated earnings for the next 12 months—hasn’t approached the bubble levels of past cycles. But surveys of market strategists and institutional investors see little upside, with year-end targets averaging around 4200 on theS&amp;P 500—shy of Thursday’s close of 4319.</p><p><blockquote>尽管Burry警告称，模因股票将从大幅上涨的水平暴跌（一些公司通过发行估值丰厚的股票来利用这一点），但整体市场——目前的交易价格约为未来12个月预期市盈率的21.5倍——尚未接近过去周期的泡沫水平。但对市场策略师和机构投资者的调查认为上涨空间不大，标准普尔500指数的年终目标平均约为4200点，低于周四收盘价4319点。</blockquote></p><p></p><p> And while it’s always dangerous to say this, it<i>is</i>different this time around from 2000 and 2008. Ahead of crashes in those years, the Federal Reserve had been tightening policy for some time, resulting in a flat-to-negatively sloped yield curve. Shorter-term Treasury yields were pushed above longer-term ones, leading the bond market to predict that the economy was headed for the rocks.</p><p><blockquote>虽然这么说总是很危险，但<i>是</i>这一次与2000年和2008年不同。在那些年的崩盘之前，美联储已经收紧政策一段时间了，导致收益率曲线持平至负斜率。短期国债收益率被推高至长期国债收益率之上，导致债券市场预测经济将走向悬崖。</blockquote></p><p> Now, in contrast, the Fed has only begun talking about talking about reducing its massive purchases of Treasury and agency mortgage-backed securities. That would be preparation for the initial liftoff of the Fed’s key federal-funds target rate, currently in a rock-bottom 0% to 0.25% range, in 2022 at the earliest and maybe not until 2023.</p><p><blockquote>现在，相比之下，美联储才刚刚开始谈论减少对美国国债和机构抵押贷款支持证券的大量购买。这将为美联储关键联邦基金目标利率的初步上调做准备，目前该利率处于0%至0.25%的最低范围，最早将于2022年，也可能要到2023年。</blockquote></p><p> The yield curve has flattened a bit in the past three months, with thespread between the two- and 10-year notenarrowing to 1.23 percentage points (still a sign of an accommodative policy), from 1.59 points on March 29, according to the St. Louis Fed.</p><p><blockquote>根据圣路易斯的数据，过去三个月收益率曲线略有平坦，2年期和10年期国债之间的利差从3月29日的1.59个百分点收窄至1.23个百分点（仍然是宽松政策的迹象）美联储。</blockquote></p><p> But there is also a psychological element at play in any market frenzy. “Most investors also seem to view the stock market as a force of nature itself. They do not fully realize that they themselves, as a group, determine the level of the market,” Nobel laureate Robert Shiller wrote in his now-classic book<i>Irrational Exuberance</i>.</p><p><blockquote>但任何市场狂热也有心理因素在起作用。诺贝尔奖得主罗伯特·席勒在他的经典著作中写道：“大多数投资者似乎也将股市本身视为一种自然力量。他们没有充分意识到，作为一个群体，他们自己决定了市场的水平。”<i>非理性繁荣</i>.</blockquote></p><p> “In short, the price level is driven to a certain extent by a self-fulfilling prophecy, based on similar hunches held by a vast cross-section of large and small investors and reinforced by news media that are often content to ratify this investor-induced conventional wisdom.”</p><p><blockquote>“简而言之，价格水平在一定程度上是由自我实现的预言驱动的，该预言基于广大大小投资者持有的类似预感，并得到新闻媒体的强化，这些媒体往往满足于认可这种投资者诱导的传统智慧。”</blockquote></p><p> Readers can weigh the relevance of the point about traders’ hunches to the Robinhood IPO. As for the latter statement regarding the media, we demur; contrary opinion rather than conventional wisdom has been<i>Barron’s</i>credo in the century since its founding.</p><p><blockquote>读者可以权衡交易者的预感与Robinhood IPO的相关性。至于后一种关于媒体的说法，我们表示反对；相反的意见而不是传统的智慧<i>巴伦周刊</i>自成立以来的一个世纪里的信条。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Robinhood’s IPO Could Be a Sign the Stock Market Has Peaked<blockquote>Robinhood的IPO可能是股市已见顶的迹象</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\">\nRobinhood’s IPO Could Be a Sign the Stock Market Has Peaked<blockquote>Robinhood的IPO可能是股市已见顶的迹象</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-07-03 10:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguishing aspect of market cycles forever and, most dramatically, in this century. Unlike last year’s pandemic-induced paroxysm, the 2000 bursting of the dot-com bubble and the 2008 financial crisis were marked by initial public offerings by companies eager to seize the moment—and investors’ money.</p><p><blockquote>正如一句老话所说，没有什么比过度更成功的了。直到它没有，这一直是市场周期的显著特征，最引人注目的是在本世纪。与去年大流行引发的爆发不同，2000年互联网泡沫破裂和2008年金融危机的标志是渴望抓住时机和投资者资金的公司进行首次公开募股。</blockquote></p><p> All of which is prologue to what could shape up as this cycle’s bell-ringing event, theinitial public offering of Robinhood, the online broker that pioneered zero commissions and hooked a new generation on investing and trading. Thepaperwork was filedwith the SEC this past week. Financial details about the upstart that purports to democratize investing (and, in the process, was hit with a record$70 million fine by Finra, the brokerage business’s self-regulatory body) are discussedhere, but a few salient points are buried deep in the S-1 filing.</p><p><blockquote>所有这些都是可能成为本周期敲响钟声的事件的序幕，即Robinhood的首次公开募股，这家在线经纪商开创了零佣金的先河，吸引了新一代人进行投资和交易。该文件已于上周提交给SEC。这里讨论了这家声称投资民主化的新贵的财务细节（并在此过程中被经纪业务自律机构Finra处以创纪录的7000万美元罚款），但有几个要点深深地埋藏在S-1文件中。</blockquote></p><p> Customer assets more than quadrupled, to $80.9 billion, on March 31 from the total a year earlier, with the lion’s share—some $65.1 billion—accounted for by equities. Options comprised a relatively small $2 billion in assets, but generated nearly half ($197.9 million) of the March quarter’s $420.4 million in transactions revenue. Stocks produced $133.3 million in revenue, even though assets in equities were 40 times as large as those in options. Revenue from cryptocurrencies totaled $87.6 million, with customers’ crypto assets totaling $11.6 billion.</p><p><blockquote>截至3月31日，客户资产总额比去年同期增加了四倍多，达到809亿美元，其中股票占了最大份额（约651亿美元）。期权资产规模相对较小，为20亿美元，但占3月份季度4.204亿美元交易收入的近一半（1.979亿美元）。尽管股票资产是期权资产的40倍，但股票产生了1.333亿美元的收入。来自加密货币的收入总计8760万美元，客户的加密资产总计116亿美元。</blockquote></p><p> While Robinhood makes much of opening the market to neophyte investors with limited means by letting them buy fractional shares of their favorite stocks, that’s not its biggest business. Instead, it’s speculative options trading, which exploded early this year especially among the YOLO (You Only Live Once) crowd willing to stake a few bucks on cheap, about-to-expire calls of stocks talked up on Reddit.</p><p><blockquote>虽然Robinhood非常重视向手段有限的新手投资者开放市场，让他们购买自己喜欢的股票的部分股票，但这并不是其最大的业务。相反，投机性期权交易在今年早些时候爆发，尤其是在YOLO（你只能活一次）人群中，他们愿意在Reddit上谈论的廉价、即将到期的评级股票上押上几美元。</blockquote></p><p> There are signs that the frenzied trading, which peaked during the winter, has eased with the reopening of the economy and the return to the prepandemic normal (and with it an uptick in Covid cases after a steady decline). Trading crypto might be simpler on a brokerage platform like Robinhood, but wasn’t the advantage of DeFi (decentralized finance) supposed to be that intermediaries wouldn’t be needed at all?</p><p><blockquote>有迹象表明，随着经济重新开放和恢复到大流行前的正常状态（新冠病例在稳步下降后也随之上升），在冬季达到顶峰的疯狂交易已经有所缓解。在Robinhood这样的经纪平台上交易加密货币可能更简单，但DeFi（去中心化金融）的优势不应该是根本不需要中介吗？</blockquote></p><p> Bulls on Robinhood would be betting on continued growth of its independent trading model, rather than investors using passive funds through advisors, which the filing derides. The broker pledged to reserve up to 35% of its IPO for its customers, who are apt to be enthusiastic buyers and, more importantly, hold onto them with “diamond hands” through volatile times.</p><p><blockquote>Robinhood的多头将押注于其独立交易模式的持续增长，而不是投资者通过顾问使用被动基金，文件对此进行了嘲笑。该经纪商承诺为其客户保留高达35%的IPO资金，这些客户往往是热情的买家，更重要的是，在动荡时期用“钻石手”抓住他们。</blockquote></p><p> And, indeed, turbulence, or worse, could lie ahead,Michael Burry told our colleague Connor Smith. Burry, a key player in both the book and film versions of<i>The Big Short</i>, won a fortune by betting against the housing market before the subprime mortgage collapse. More recently, he was an early bull onGamestop(ticker: GME), but took his profits in 2020’s fourth quarter before the frenzy around the original meme stock took off. Now he’s warning that the craze will end in tears.</p><p><blockquote>迈克尔·伯里告诉我们的同事康纳·史密斯，事实上，未来可能会出现动荡，甚至更糟。伯里，书和电影版本中的关键人物<i>大空头</i>，在次贷崩溃之前，通过做空房地产市场而赚了一大笔钱。最近，他是GameStop（股票代码：GME）的早期看涨者，但在围绕原始meme股票的狂热开始之前，他在2020年第四季度获利了结。现在他警告说，这种狂热将以眼泪告终。</blockquote></p><p> “I don’t know when meme stocks such as this will crash, but we probably do not have to wait too long, as I believe the retail crowd is fully invested in this theme, and Wall Street has jumped on the coattails,” he told Connor in an email. “We’re running out of new money available to jump on the bandwagon.”</p><p><blockquote>“我不知道像这样的模因股票什么时候会崩溃，但我们可能不必等太久，因为我相信散户人群已经完全投资于这个主题，而华尔街也抓住了这一机会，”他在一封电子邮件中告诉康纳。“我们已经没有新的资金来跟上潮流了。”</blockquote></p><p> The Robinhood offering wouldn’t be the first stock sale that could be a top-of-the-market event. Back in mid-2007,<i>Barron’s</i>Andrew Bary calledthe IPO ofBlackstone Group(BX) precisely that, just weeks before concerns about excesses of subprime lending rumbled through the global money markets and months before theDow Jones Industrial Averagepeaked the following October.</p><p><blockquote>Robinhood的发行并不是第一次可能成为市场顶级事件的股票销售。早在2007年中期，<i>巴伦周刊</i>安德鲁·巴里(Andrew Bary)正是这样称呼黑石集团(BX)的IPO，就在对过度次级贷款的担忧席卷全球货币市场的几周前，以及道琼斯工业平均指数在次年10月见顶的几个月前。</blockquote></p><p> And who could forget the parade of wacky IPOs in the late 1990s that presaged the potential of the internet, but lacked earnings or revenue or even a viable business plan? By March 2000,<i>Barron’s</i>published itsseminal cover storyrevealing that these dot-com darlings were rapidly burning cash. That very month marked theNasdaq Composite’speak; the index would fall nearly 80% by October 2002.</p><p><blockquote>谁能忘记20世纪90年代末一系列古怪的IPO，这些IPO预示着互联网的潜力，但缺乏盈利或收入，甚至缺乏可行的商业计划？到2000年3月，<i>巴伦周刊</i>发表了开创性的封面故事，揭示了这些互联网宠儿正在迅速烧钱。就在那个月，纳斯达克综合指数发表了讲话；到2002年10月，该指数将下跌近80%。</blockquote></p><p> While Burry warns of a crash in meme stocks from their vastly elevated levels, which some of the companies have exploited by issuing richly valued shares, the overall market—now trading at about 21.5 times estimated earnings for the next 12 months—hasn’t approached the bubble levels of past cycles. But surveys of market strategists and institutional investors see little upside, with year-end targets averaging around 4200 on theS&amp;P 500—shy of Thursday’s close of 4319.</p><p><blockquote>尽管Burry警告称，模因股票将从大幅上涨的水平暴跌（一些公司通过发行估值丰厚的股票来利用这一点），但整体市场——目前的交易价格约为未来12个月预期市盈率的21.5倍——尚未接近过去周期的泡沫水平。但对市场策略师和机构投资者的调查认为上涨空间不大，标准普尔500指数的年终目标平均约为4200点，低于周四收盘价4319点。</blockquote></p><p></p><p> And while it’s always dangerous to say this, it<i>is</i>different this time around from 2000 and 2008. Ahead of crashes in those years, the Federal Reserve had been tightening policy for some time, resulting in a flat-to-negatively sloped yield curve. Shorter-term Treasury yields were pushed above longer-term ones, leading the bond market to predict that the economy was headed for the rocks.</p><p><blockquote>虽然这么说总是很危险，但<i>是</i>这一次与2000年和2008年不同。在那些年的崩盘之前，美联储已经收紧政策一段时间了，导致收益率曲线持平至负斜率。短期国债收益率被推高至长期国债收益率之上，导致债券市场预测经济将走向悬崖。</blockquote></p><p> Now, in contrast, the Fed has only begun talking about talking about reducing its massive purchases of Treasury and agency mortgage-backed securities. That would be preparation for the initial liftoff of the Fed’s key federal-funds target rate, currently in a rock-bottom 0% to 0.25% range, in 2022 at the earliest and maybe not until 2023.</p><p><blockquote>现在，相比之下，美联储才刚刚开始谈论减少对美国国债和机构抵押贷款支持证券的大量购买。这将为美联储关键联邦基金目标利率的初步上调做准备，目前该利率处于0%至0.25%的最低范围，最早将于2022年，也可能要到2023年。</blockquote></p><p> The yield curve has flattened a bit in the past three months, with thespread between the two- and 10-year notenarrowing to 1.23 percentage points (still a sign of an accommodative policy), from 1.59 points on March 29, according to the St. Louis Fed.</p><p><blockquote>根据圣路易斯的数据，过去三个月收益率曲线略有平坦，2年期和10年期国债之间的利差从3月29日的1.59个百分点收窄至1.23个百分点（仍然是宽松政策的迹象）美联储。</blockquote></p><p> But there is also a psychological element at play in any market frenzy. “Most investors also seem to view the stock market as a force of nature itself. They do not fully realize that they themselves, as a group, determine the level of the market,” Nobel laureate Robert Shiller wrote in his now-classic book<i>Irrational Exuberance</i>.</p><p><blockquote>但任何市场狂热也有心理因素在起作用。诺贝尔奖得主罗伯特·席勒在他的经典著作中写道：“大多数投资者似乎也将股市本身视为一种自然力量。他们没有充分意识到，作为一个群体，他们自己决定了市场的水平。”<i>非理性繁荣</i>.</blockquote></p><p> “In short, the price level is driven to a certain extent by a self-fulfilling prophecy, based on similar hunches held by a vast cross-section of large and small investors and reinforced by news media that are often content to ratify this investor-induced conventional wisdom.”</p><p><blockquote>“简而言之，价格水平在一定程度上是由自我实现的预言驱动的，该预言基于广大大小投资者持有的类似预感，并得到新闻媒体的强化，这些媒体往往满足于认可这种投资者诱导的传统智慧。”</blockquote></p><p> Readers can weigh the relevance of the point about traders’ hunches to the Robinhood IPO. As for the latter statement regarding the media, we demur; contrary opinion rather than conventional wisdom has been<i>Barron’s</i>credo in the century since its founding.</p><p><blockquote>读者可以权衡交易者的预感与Robinhood IPO的相关性。至于后一种关于媒体的说法，我们表示反对；相反的意见而不是传统的智慧<i>巴伦周刊</i>自成立以来的一个世纪里的信条。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/analyst-explains-why-netflix-should-sell-ads-51624987059\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/analyst-explains-why-netflix-should-sell-ads-51624987059","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114445293","content_text":"Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguishing aspect of market cycles forever and, most dramatically, in this century. Unlike last year’s pandemic-induced paroxysm, the 2000 bursting of the dot-com bubble and the 2008 financial crisis were marked by initial public offerings by companies eager to seize the moment—and investors’ money.\nAll of which is prologue to what could shape up as this cycle’s bell-ringing event, theinitial public offering of Robinhood, the online broker that pioneered zero commissions and hooked a new generation on investing and trading. Thepaperwork was filedwith the SEC this past week. Financial details about the upstart that purports to democratize investing (and, in the process, was hit with a record$70 million fine by Finra, the brokerage business’s self-regulatory body) are discussedhere, but a few salient points are buried deep in the S-1 filing.\nCustomer assets more than quadrupled, to $80.9 billion, on March 31 from the total a year earlier, with the lion’s share—some $65.1 billion—accounted for by equities. Options comprised a relatively small $2 billion in assets, but generated nearly half ($197.9 million) of the March quarter’s $420.4 million in transactions revenue. Stocks produced $133.3 million in revenue, even though assets in equities were 40 times as large as those in options. Revenue from cryptocurrencies totaled $87.6 million, with customers’ crypto assets totaling $11.6 billion.\nWhile Robinhood makes much of opening the market to neophyte investors with limited means by letting them buy fractional shares of their favorite stocks, that’s not its biggest business. Instead, it’s speculative options trading, which exploded early this year especially among the YOLO (You Only Live Once) crowd willing to stake a few bucks on cheap, about-to-expire calls of stocks talked up on Reddit.\nThere are signs that the frenzied trading, which peaked during the winter, has eased with the reopening of the economy and the return to the prepandemic normal (and with it an uptick in Covid cases after a steady decline). Trading crypto might be simpler on a brokerage platform like Robinhood, but wasn’t the advantage of DeFi (decentralized finance) supposed to be that intermediaries wouldn’t be needed at all?\nBulls on Robinhood would be betting on continued growth of its independent trading model, rather than investors using passive funds through advisors, which the filing derides. The broker pledged to reserve up to 35% of its IPO for its customers, who are apt to be enthusiastic buyers and, more importantly, hold onto them with “diamond hands” through volatile times.\nAnd, indeed, turbulence, or worse, could lie ahead,Michael Burry told our colleague Connor Smith. Burry, a key player in both the book and film versions ofThe Big Short, won a fortune by betting against the housing market before the subprime mortgage collapse. More recently, he was an early bull onGamestop(ticker: GME), but took his profits in 2020’s fourth quarter before the frenzy around the original meme stock took off. Now he’s warning that the craze will end in tears.\n“I don’t know when meme stocks such as this will crash, but we probably do not have to wait too long, as I believe the retail crowd is fully invested in this theme, and Wall Street has jumped on the coattails,” he told Connor in an email. “We’re running out of new money available to jump on the bandwagon.”\nThe Robinhood offering wouldn’t be the first stock sale that could be a top-of-the-market event. Back in mid-2007,Barron’sAndrew Bary calledthe IPO ofBlackstone Group(BX) precisely that, just weeks before concerns about excesses of subprime lending rumbled through the global money markets and months before theDow Jones Industrial Averagepeaked the following October.\nAnd who could forget the parade of wacky IPOs in the late 1990s that presaged the potential of the internet, but lacked earnings or revenue or even a viable business plan? By March 2000,Barron’spublished itsseminal cover storyrevealing that these dot-com darlings were rapidly burning cash. That very month marked theNasdaq Composite’speak; the index would fall nearly 80% by October 2002.\nWhile Burry warns of a crash in meme stocks from their vastly elevated levels, which some of the companies have exploited by issuing richly valued shares, the overall market—now trading at about 21.5 times estimated earnings for the next 12 months—hasn’t approached the bubble levels of past cycles. But surveys of market strategists and institutional investors see little upside, with year-end targets averaging around 4200 on theS&P 500—shy of Thursday’s close of 4319.\nAnd while it’s always dangerous to say this, itisdifferent this time around from 2000 and 2008. Ahead of crashes in those years, the Federal Reserve had been tightening policy for some time, resulting in a flat-to-negatively sloped yield curve. Shorter-term Treasury yields were pushed above longer-term ones, leading the bond market to predict that the economy was headed for the rocks.\nNow, in contrast, the Fed has only begun talking about talking about reducing its massive purchases of Treasury and agency mortgage-backed securities. That would be preparation for the initial liftoff of the Fed’s key federal-funds target rate, currently in a rock-bottom 0% to 0.25% range, in 2022 at the earliest and maybe not until 2023.\nThe yield curve has flattened a bit in the past three months, with thespread between the two- and 10-year notenarrowing to 1.23 percentage points (still a sign of an accommodative policy), from 1.59 points on March 29, according to the St. Louis Fed.\nBut there is also a psychological element at play in any market frenzy. “Most investors also seem to view the stock market as a force of nature itself. They do not fully realize that they themselves, as a group, determine the level of the market,” Nobel laureate Robert Shiller wrote in his now-classic bookIrrational Exuberance.\n“In short, the price level is driven to a certain extent by a self-fulfilling prophecy, based on similar hunches held by a vast cross-section of large and small investors and reinforced by news media that are often content to ratify this investor-induced conventional wisdom.”\nReaders can weigh the relevance of the point about traders’ hunches to the Robinhood IPO. As for the latter statement regarding the media, we demur; contrary opinion rather than conventional wisdom has beenBarron’scredo in the century since its founding.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":534,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162494482,"gmtCreate":1624070489146,"gmtModify":1634011109448,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"I wonder how the listing process managed to get thru","listText":"I wonder how the listing process managed to get thru","text":"I wonder how the listing process managed to get thru","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/162494482","repostId":"1161408410","repostType":4,"isVote":1,"tweetType":1,"viewCount":453,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143508952,"gmtCreate":1625798959076,"gmtModify":1631884141804,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"How will Google ever fail when it has become a verb and not a noun","listText":"How will Google ever fail when it has become a verb and not a noun","text":"How will Google ever fail when it has become a verb and not a noun","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/143508952","repostId":"2149328173","repostType":4,"isVote":1,"tweetType":1,"viewCount":2985,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155043532,"gmtCreate":1625365530026,"gmtModify":1633941245108,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Actually this sounds like common sense to me. BuyLow, of course. What is Low?","listText":"Actually this sounds like common sense to me. BuyLow, of course. What is Low?","text":"Actually this sounds like common sense to me. BuyLow, of course. What is Low?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155043532","repostId":"1188153141","repostType":4,"repost":{"id":"1188153141","kind":"news","pubTimestamp":1625276221,"share":"https://www.laohu8.com/m/news/1188153141?lang=zh_CN&edition=full","pubTime":"2021-07-03 09:37","market":"us","language":"en","title":"Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188153141","media":"MoneyWise","summary":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for th","content":"<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让投资专家感到担忧，其中包括苏茜·欧曼(Suze Orman)，她甚至表示，她现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一项著名指标——巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下解释了这种担忧的来源，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏西·奥曼是怎么想的？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>Mediapunch/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>几十年来，Suze Orman一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚所发生的事情让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“我不喜欢现在市场上发生的事情，”奥曼在CNBC的视频中表示。“经济一直很糟糕，但股市一直在上涨。”</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样容易，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激支票仍在发放，房地产市场去年也打破了自己的记录，奥曼仍担心冠状病毒会带来什么——特别是在新变种不断出现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得距离上次崩盘已经太久了，不能再保持这么高的高度了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“这让我又想起了2000年，”奥曼说。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦·巴菲特经常用来评估市场的一项指标，以他的名字命名，已经亮起红灯足够长的时间，以至于市场观察人士开始怀疑这是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但衡量股市总价值与美国经济产出比率的巴菲特指标继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士想知道这是否是我们即将看到严重下跌的迹象。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为崩溃做好准备Freedomz/Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>Orman提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1.低吸</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等模因股票的狂热感到如此不安的部分原因是，它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“你们所有人的头都被拧到了后面，”她说。“你想要的只是这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金用于投资401(k)或IRA计划的退休生活。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年内都不打算碰这笔钱，所以最好的长期策略是低吸。这样，你的美元现在将走得更远，为未来20年、30年或40年留下足够的增长空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2.按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡珍/Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然她更喜欢低价买入，但奥曼不建议你在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的涨跌之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济低迷欢呼可能是您获得更大份额利润丰厚的投资的最佳选择——就像一些幸运的投资者在2007年和2008年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“当市场下跌、下跌、下跌时，你可以免费购买东西，”奥曼说。“现在看看15年后的它们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议你建立一个平均成本策略，这意味着无论市场波动如何，你都要定期等量投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易用目前可供DIY投资者使用的许多投资应用程序中的任何一个来实施。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至有些应用程序会通过将您的借记卡和信用卡购买的金额四舍五入到最接近的美元来自动投资您的零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3.通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助应对市场特定角落的下跌，奥曼建议您分散投资——通过投资多种不同类型的资产和经济部门来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法允许你购买一家知名公司的一部分股份，否则你将买不起。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在流行的股票交易工具的帮助下，任何预算的人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“你越早开始，你拥有的钱就越多，”奥曼说。“只是不要停下来，当这些市场下跌时，你应该很高兴，因为你的美元找到了更多的份额。”</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股票越多，20年、40年、50年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹/Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在CNBC视频中表示，无论大崩盘是否即将来临，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>第一，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择Roth账户，无论是401(k)还是IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>这将帮助您在从退休账户中提取资金时避免纳税，因为您对罗斯账户的供款是税后进行的。另一方面，传统IRA在您缴款时无需纳税，因此您最终会稍后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果您发现需要更多指导，与专业财务顾问合作可以帮助您指出正确的方向，以便您可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离路线或矫枉过正时，你将牢牢地坐在驾驶座上，计划好你的晚年。</blockquote></p><p></p>","source":"lsy1621813427262","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>Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</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\">\nSuze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MoneyWise</strong><span class=\"h-time small\">2021-07-03 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让投资专家感到担忧，其中包括苏茜·欧曼(Suze Orman)，她甚至表示，她现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一项著名指标——巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下解释了这种担忧的来源，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏西·奥曼是怎么想的？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>Mediapunch/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>几十年来，Suze Orman一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚所发生的事情让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“我不喜欢现在市场上发生的事情，”奥曼在CNBC的视频中表示。“经济一直很糟糕，但股市一直在上涨。”</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样容易，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激支票仍在发放，房地产市场去年也打破了自己的记录，奥曼仍担心冠状病毒会带来什么——特别是在新变种不断出现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得距离上次崩盘已经太久了，不能再保持这么高的高度了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“这让我又想起了2000年，”奥曼说。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦·巴菲特经常用来评估市场的一项指标，以他的名字命名，已经亮起红灯足够长的时间，以至于市场观察人士开始怀疑这是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但衡量股市总价值与美国经济产出比率的巴菲特指标继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士想知道这是否是我们即将看到严重下跌的迹象。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为崩溃做好准备Freedomz/Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>Orman提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1.低吸</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等模因股票的狂热感到如此不安的部分原因是，它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“你们所有人的头都被拧到了后面，”她说。“你想要的只是这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金用于投资401(k)或IRA计划的退休生活。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年内都不打算碰这笔钱，所以最好的长期策略是低吸。这样，你的美元现在将走得更远，为未来20年、30年或40年留下足够的增长空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2.按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡珍/Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然她更喜欢低价买入，但奥曼不建议你在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的涨跌之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济低迷欢呼可能是您获得更大份额利润丰厚的投资的最佳选择——就像一些幸运的投资者在2007年和2008年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“当市场下跌、下跌、下跌时，你可以免费购买东西，”奥曼说。“现在看看15年后的它们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议你建立一个平均成本策略，这意味着无论市场波动如何，你都要定期等量投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易用目前可供DIY投资者使用的许多投资应用程序中的任何一个来实施。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至有些应用程序会通过将您的借记卡和信用卡购买的金额四舍五入到最接近的美元来自动投资您的零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3.通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助应对市场特定角落的下跌，奥曼建议您分散投资——通过投资多种不同类型的资产和经济部门来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法允许你购买一家知名公司的一部分股份，否则你将买不起。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在流行的股票交易工具的帮助下，任何预算的人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“你越早开始，你拥有的钱就越多，”奥曼说。“只是不要停下来，当这些市场下跌时，你应该很高兴，因为你的美元找到了更多的份额。”</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股票越多，20年、40年、50年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹/Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在CNBC视频中表示，无论大崩盘是否即将来临，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>第一，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择Roth账户，无论是401(k)还是IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>这将帮助您在从退休账户中提取资金时避免纳税，因为您对罗斯账户的供款是税后进行的。另一方面，传统IRA在您缴款时无需纳税，因此您最终会稍后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果您发现需要更多指导，与专业财务顾问合作可以帮助您指出正确的方向，以便您可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离路线或矫枉过正时，你将牢牢地坐在驾驶座上，计划好你的晚年。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html\">MoneyWise</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188153141","content_text":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.\nAnd a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.\nHere’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.\nWhat does Suze Orman think?\nMediapunch/Shutterstock\nSuze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.\n“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”\nWhile investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.\nAnd even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.\nWhat's more, she feels it’s just been too long since the last crash to stay this high much longer.\n“This reminds me of 2000 all over again,” Orman says.\nThe Buffett Indicator\nLarry W Smith/EPA/Shutterstock\nOne metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.\nBut the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.\nAnd those in the know are wondering if it's a sign that we’re about to see a hard fall.\nHow to prepare for a crashFreedomz / Shutterstock\nOrman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.\n1. Buy low\nPart of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.\n“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”\nShe points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.\nBecause you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.\n2. Invest on a schedule\nkatjen / Shutterstock\nWhile she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.\nShe wants casual investors to not get caught up in the daily ups and downs of the market.\nIn fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.\n“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”\nShe suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.\nThis kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.\nThere are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.\n3. Diversify with fractional shares\nTo help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.\nOrman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.\nWith the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.\n“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”\n“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”\nWhat else you can do\ngoodluz / Shutterstock\nWhether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.\nFirst, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.\nThen, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.\nThat will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.\nIf you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.\nWhile everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":414,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836579697,"gmtCreate":1629510796519,"gmtModify":1633684358228,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"I really hope you are right.","listText":"I really hope you are right.","text":"I really hope you are right.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836579697","repostId":"2161745814","repostType":4,"isVote":1,"tweetType":1,"viewCount":1311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155481108,"gmtCreate":1625448910904,"gmtModify":1633940609613,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"How to expect 1 million dozes to be administered by&nbsp;end July? Who would buy?","listText":"How to expect 1 million dozes to be administered by&nbsp;end July? Who would buy?","text":"How to expect 1 million dozes to be administered by end July? Who would buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/155481108","repostId":"2148388731","repostType":4,"isVote":1,"tweetType":1,"viewCount":1077,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107364319,"gmtCreate":1620446071631,"gmtModify":1634198692549,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/107364319","repostId":"1120904578","repostType":4,"repost":{"id":"1120904578","kind":"news","pubTimestamp":1620429937,"share":"https://www.laohu8.com/m/news/1120904578?lang=zh_CN&edition=full","pubTime":"2021-05-08 07:25","market":"us","language":"en","title":"S&P 500, Dow hit record highs as weak jobs data eases rate worries<blockquote>疲软的就业数据缓解了利率担忧，标普500和道指创下历史新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1120904578","media":"Reuters","summary":"The Dow and S&P 500 hit record closing highs on Friday while registering gains for the week, and the","content":"<p>The Dow and S&amp;P 500 hit record closing highs on Friday while registering gains for the week, and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> recovered after U.S. jobs data eased concerns over prospects for rising rates.</p><p><blockquote>道琼斯指数和标普500指数周五创下历史收盘新高，同时录得本周上涨，而<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>在美国就业数据缓解了对加息前景的担忧后复苏。</blockquote></p><p>U.S. job growth&nbsp;unexpectedly slowed&nbsp;in April, likely restrained by shortages of workers, the Labor Department report showed.</p><p><blockquote>劳工部报告显示，美国4月份就业增长意外放缓，可能受到工人短缺的限制。</blockquote></p><p>The report alleviated some concerns about rising inflation and potentially higher U.S. interest rates, which some investors worry would hurt growth companies with high valuations.</p><p><blockquote>该报告缓解了对通胀上升和美国利率可能上升的一些担忧，一些投资者担心这将损害高估值的成长型公司。</blockquote></p><p>“Growth names that were taken to the woodshed are getting another chance, because they will be perceived to be less risky in an environment where there is a slower recovery, and that’s really what the jobs data is indicating”, said Tom Martin, senior portfolio manager at Globalt Investments.</p><p><blockquote>高级投资组合汤姆·马丁(Tom Martin)表示：“那些被带到柴房的成长型公司正在获得另一次机会，因为在复苏较慢的环境中，它们将被认为风险较小，而这正是就业数据所表明的。”Globalt Investments经理。</blockquote></p><p>Heavily-weighted growth stocks such as <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp MSFT.O and <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc AAPL.O rose by 1.1% and 0.5%, respectively, giving the S&amp;P 500 and Nasdaq their biggest boosts.</p><p><blockquote>权重较大的成长股，例如<a href=\"https://laohu8.com/S/MSFT\">微软</a>公司MSFT.O和<a href=\"https://laohu8.com/S/AAPL\">苹果</a>Inc.AAPL.O分别上涨1.1%和0.5%，标普500和纳斯达克涨幅最大。</blockquote></p><p>But gains were broad-based, with all major S&amp;P 500 sectors ending in the green and energy SPNY and real estate SPLRCR leading the advance. Energy and materials SPLRCM both hit fresh highs.</p><p><blockquote>但涨幅广泛，所有主要标普500板块均以绿色能源SPNY和房地产SPLRCR领涨。能源和材料SPLRCM双双创下新高。</blockquote></p><p>The Dow .DJI rose 229.23 points, or 0.66%, to 34,777.76, the S&amp;P 500 .SPX gained 30.98 points, or 0.74%, to 4,232.6 and the Nasdaq Composite .IXIC added 119.40 points, or 0.88%, to 13,752.24.</p><p><blockquote>道琼斯指数。DJI上涨229.23点，或0.66%，至34,777.76点；标普500.SPX上涨30.98点，或0.74%，至4,232.6点；纳斯达克综合指数。IXIC上涨119.40点，或0.88%，至13,752.24点。</blockquote></p><p>For the week, the Dow rose 2.7%, its biggest weekly percentage gain since March. The S&amp;P 500 gained 1.2%, its best week since mid-April, while the Nasdaq shed 1.5%.</p><p><blockquote>本周，道指上涨2.7%，创3月以来最大单周百分比涨幅。标普500上涨1.2%，为4月中旬以来表现最好的一周，而纳斯达克下跌1.5%。</blockquote></p><p>“The anticipation and confirmation of (Federal Reserve) policy staying the same and continued economic recovery with vaccines rollout have fueled these all-time highs, but we do believe the volatility is going to be tightened in the short term,” said Greg Bassuk, chief executive at Axs Investments.</p><p><blockquote>格雷格·巴苏克(Greg Bassuk)表示：“对（美联储）政策保持不变以及疫苗推出后经济持续复苏的预期和确认推动了这些历史高点，但我们确实认为短期内波动性将会收紧。”，Axs投资公司首席执行官。</blockquote></p><p>A raft of upbeat earnings also helped stocks, and S&amp;P 500 earnings are now estimated to have increased 50.4% in the first quarter from a year ago, which would be the highest growth rate since the first quarter of 2010, according to Refinitiv data.</p><p><blockquote>大量乐观的盈利也帮助了股市，根据Refinitiv的数据，目前预计标普500第一季度盈利同比增长50.4%，这将是自2010年第一季度以来的最高增长率。</blockquote></p><p>Payments firm <a href=\"https://laohu8.com/S/SQ\">Square</a> Inc SQ.N rose 4.2% after reporting a better-than-expected quarterly profit, as surging demand for bitcoin fueled a jump in cryptocurrency transactions on its application. (Full Story)</p><p><blockquote>支付公司<a href=\"https://laohu8.com/S/SQ\">平方</a>Inc SQ.N在公布好于预期的季度利润后上涨4.2%，因为对比特币的需求激增推动了其应用程序上的加密货币交易激增。（全文）</blockquote></p><p>Streaming device maker <a href=\"https://laohu8.com/S/ROKU\">Roku Inc</a> ROKU.O jumped 11.5%following an upbeat revenue outlook, while fitness equipment maker Peloton Interactive Inc PTON.O gained as it laid out steps to improve the safety of its equipment. (Full Story) (Full Story)</p><p><blockquote>流媒体设备制造商<a href=\"https://laohu8.com/S/ROKU\">Roku公司</a>ROKU.O因收入前景乐观而上涨11.5%，而健身器材制造商Peloton Interactive Inc PTON.O因采取措施提高设备安全性而上涨。（全文）（全文）</blockquote></p><p><a href=\"https://laohu8.com/S/EXPE\">Expedia</a> Group Inc EXPE.O shares rose 5.2% as analysts raised price targets following the company’s upbeat results.</p><p><blockquote><a href=\"https://laohu8.com/S/EXPE\">Expedia</a>Group Inc EXPE.O股价上涨5.2%，分析师在该公司公布乐观业绩后上调了目标价。</blockquote></p><p>Advancing issues outnumbered declining ones on the NYSE by a 3.27-to-1 ratio; on Nasdaq, a 2.12-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为3.27比1；在纳斯达克，2.12比1的比率有利于上涨者。</blockquote></p><p>The S&amp;P 500 posted 164 new 52-week highs and <a href=\"https://laohu8.com/S/AONE\">one</a> new low; the Nasdaq Composite recorded 164 new highs and 64 new lows.</p><p><blockquote>标普500创下164个52周新高，<a href=\"https://laohu8.com/S/AONE\">一</a>新低；纳斯达克综合指数录得164个新高和64个新低。</blockquote></p><p>Volume on U.S. exchanges was 10.23 billion shares, compared with the 10.11 billion average for the full session over the last 20 trading days.</p><p><blockquote>美国交易所成交量为102.3亿股，而过去20个交易日全交易日平均成交量为101.1亿股。</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>S&P 500, Dow hit record highs as weak jobs data eases rate worries<blockquote>疲软的就业数据缓解了利率担忧，标普500和道指创下历史新高</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; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500, Dow hit record highs as weak jobs data eases rate worries<blockquote>疲软的就业数据缓解了利率担忧，标普500和道指创下历史新高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-05-08 07:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Dow and S&amp;P 500 hit record closing highs on Friday while registering gains for the week, and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> recovered after U.S. jobs data eased concerns over prospects for rising rates.</p><p><blockquote>道琼斯指数和标普500指数周五创下历史收盘新高，同时录得本周上涨，而<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>在美国就业数据缓解了对加息前景的担忧后复苏。</blockquote></p><p>U.S. job growth&nbsp;unexpectedly slowed&nbsp;in April, likely restrained by shortages of workers, the Labor Department report showed.</p><p><blockquote>劳工部报告显示，美国4月份就业增长意外放缓，可能受到工人短缺的限制。</blockquote></p><p>The report alleviated some concerns about rising inflation and potentially higher U.S. interest rates, which some investors worry would hurt growth companies with high valuations.</p><p><blockquote>该报告缓解了对通胀上升和美国利率可能上升的一些担忧，一些投资者担心这将损害高估值的成长型公司。</blockquote></p><p>“Growth names that were taken to the woodshed are getting another chance, because they will be perceived to be less risky in an environment where there is a slower recovery, and that’s really what the jobs data is indicating”, said Tom Martin, senior portfolio manager at Globalt Investments.</p><p><blockquote>高级投资组合汤姆·马丁(Tom Martin)表示：“那些被带到柴房的成长型公司正在获得另一次机会，因为在复苏较慢的环境中，它们将被认为风险较小，而这正是就业数据所表明的。”Globalt Investments经理。</blockquote></p><p>Heavily-weighted growth stocks such as <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp MSFT.O and <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc AAPL.O rose by 1.1% and 0.5%, respectively, giving the S&amp;P 500 and Nasdaq their biggest boosts.</p><p><blockquote>权重较大的成长股，例如<a href=\"https://laohu8.com/S/MSFT\">微软</a>公司MSFT.O和<a href=\"https://laohu8.com/S/AAPL\">苹果</a>Inc.AAPL.O分别上涨1.1%和0.5%，标普500和纳斯达克涨幅最大。</blockquote></p><p>But gains were broad-based, with all major S&amp;P 500 sectors ending in the green and energy SPNY and real estate SPLRCR leading the advance. Energy and materials SPLRCM both hit fresh highs.</p><p><blockquote>但涨幅广泛，所有主要标普500板块均以绿色能源SPNY和房地产SPLRCR领涨。能源和材料SPLRCM双双创下新高。</blockquote></p><p>The Dow .DJI rose 229.23 points, or 0.66%, to 34,777.76, the S&amp;P 500 .SPX gained 30.98 points, or 0.74%, to 4,232.6 and the Nasdaq Composite .IXIC added 119.40 points, or 0.88%, to 13,752.24.</p><p><blockquote>道琼斯指数。DJI上涨229.23点，或0.66%，至34,777.76点；标普500.SPX上涨30.98点，或0.74%，至4,232.6点；纳斯达克综合指数。IXIC上涨119.40点，或0.88%，至13,752.24点。</blockquote></p><p>For the week, the Dow rose 2.7%, its biggest weekly percentage gain since March. The S&amp;P 500 gained 1.2%, its best week since mid-April, while the Nasdaq shed 1.5%.</p><p><blockquote>本周，道指上涨2.7%，创3月以来最大单周百分比涨幅。标普500上涨1.2%，为4月中旬以来表现最好的一周，而纳斯达克下跌1.5%。</blockquote></p><p>“The anticipation and confirmation of (Federal Reserve) policy staying the same and continued economic recovery with vaccines rollout have fueled these all-time highs, but we do believe the volatility is going to be tightened in the short term,” said Greg Bassuk, chief executive at Axs Investments.</p><p><blockquote>格雷格·巴苏克(Greg Bassuk)表示：“对（美联储）政策保持不变以及疫苗推出后经济持续复苏的预期和确认推动了这些历史高点，但我们确实认为短期内波动性将会收紧。”，Axs投资公司首席执行官。</blockquote></p><p>A raft of upbeat earnings also helped stocks, and S&amp;P 500 earnings are now estimated to have increased 50.4% in the first quarter from a year ago, which would be the highest growth rate since the first quarter of 2010, according to Refinitiv data.</p><p><blockquote>大量乐观的盈利也帮助了股市，根据Refinitiv的数据，目前预计标普500第一季度盈利同比增长50.4%，这将是自2010年第一季度以来的最高增长率。</blockquote></p><p>Payments firm <a href=\"https://laohu8.com/S/SQ\">Square</a> Inc SQ.N rose 4.2% after reporting a better-than-expected quarterly profit, as surging demand for bitcoin fueled a jump in cryptocurrency transactions on its application. (Full Story)</p><p><blockquote>支付公司<a href=\"https://laohu8.com/S/SQ\">平方</a>Inc SQ.N在公布好于预期的季度利润后上涨4.2%，因为对比特币的需求激增推动了其应用程序上的加密货币交易激增。（全文）</blockquote></p><p>Streaming device maker <a href=\"https://laohu8.com/S/ROKU\">Roku Inc</a> ROKU.O jumped 11.5%following an upbeat revenue outlook, while fitness equipment maker Peloton Interactive Inc PTON.O gained as it laid out steps to improve the safety of its equipment. (Full Story) (Full Story)</p><p><blockquote>流媒体设备制造商<a href=\"https://laohu8.com/S/ROKU\">Roku公司</a>ROKU.O因收入前景乐观而上涨11.5%，而健身器材制造商Peloton Interactive Inc PTON.O因采取措施提高设备安全性而上涨。（全文）（全文）</blockquote></p><p><a href=\"https://laohu8.com/S/EXPE\">Expedia</a> Group Inc EXPE.O shares rose 5.2% as analysts raised price targets following the company’s upbeat results.</p><p><blockquote><a href=\"https://laohu8.com/S/EXPE\">Expedia</a>Group Inc EXPE.O股价上涨5.2%，分析师在该公司公布乐观业绩后上调了目标价。</blockquote></p><p>Advancing issues outnumbered declining ones on the NYSE by a 3.27-to-1 ratio; on Nasdaq, a 2.12-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为3.27比1；在纳斯达克，2.12比1的比率有利于上涨者。</blockquote></p><p>The S&amp;P 500 posted 164 new 52-week highs and <a href=\"https://laohu8.com/S/AONE\">one</a> new low; the Nasdaq Composite recorded 164 new highs and 64 new lows.</p><p><blockquote>标普500创下164个52周新高，<a href=\"https://laohu8.com/S/AONE\">一</a>新低；纳斯达克综合指数录得164个新高和64个新低。</blockquote></p><p>Volume on U.S. exchanges was 10.23 billion shares, compared with the 10.11 billion average for the full session over the last 20 trading days.</p><p><blockquote>美国交易所成交量为102.3亿股，而过去20个交易日全交易日平均成交量为101.1亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/business/sp-500-dow-hit-record-highs-weak-jobs-data-eases-rate-worries-2021-05-07/\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SDS":"两倍做空标普500 ETF-ProShares","ROKU":"Roku Inc",".DJI":"道琼斯","EXPE":"Expedia",".SPX":"S&P 500 Index","OEX":"标普100","AAPL":"苹果","SH":"做空标普500-Proshares",".IXIC":"NASDAQ Composite","SPXU":"三倍做空标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","SPY":"标普500ETF","MSFT":"微软","OEF":"标普100指数ETF-iShares","UPRO":"三倍做多标普500ETF-ProShares","IVV":"标普500ETF-iShares"},"source_url":"https://www.reuters.com/business/sp-500-dow-hit-record-highs-weak-jobs-data-eases-rate-worries-2021-05-07/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120904578","content_text":"The Dow and S&P 500 hit record closing highs on Friday while registering gains for the week, and the Nasdaq recovered after U.S. jobs data eased concerns over prospects for rising rates.U.S. job growth unexpectedly slowed in April, likely restrained by shortages of workers, the Labor Department report showed.The report alleviated some concerns about rising inflation and potentially higher U.S. interest rates, which some investors worry would hurt growth companies with high valuations.“Growth names that were taken to the woodshed are getting another chance, because they will be perceived to be less risky in an environment where there is a slower recovery, and that’s really what the jobs data is indicating”, said Tom Martin, senior portfolio manager at Globalt Investments.Heavily-weighted growth stocks such as Microsoft Corp MSFT.O and Apple Inc AAPL.O rose by 1.1% and 0.5%, respectively, giving the S&P 500 and Nasdaq their biggest boosts.But gains were broad-based, with all major S&P 500 sectors ending in the green and energy SPNY and real estate SPLRCR leading the advance. Energy and materials SPLRCM both hit fresh highs.The Dow .DJI rose 229.23 points, or 0.66%, to 34,777.76, the S&P 500 .SPX gained 30.98 points, or 0.74%, to 4,232.6 and the Nasdaq Composite .IXIC added 119.40 points, or 0.88%, to 13,752.24.For the week, the Dow rose 2.7%, its biggest weekly percentage gain since March. The S&P 500 gained 1.2%, its best week since mid-April, while the Nasdaq shed 1.5%.“The anticipation and confirmation of (Federal Reserve) policy staying the same and continued economic recovery with vaccines rollout have fueled these all-time highs, but we do believe the volatility is going to be tightened in the short term,” said Greg Bassuk, chief executive at Axs Investments.A raft of upbeat earnings also helped stocks, and S&P 500 earnings are now estimated to have increased 50.4% in the first quarter from a year ago, which would be the highest growth rate since the first quarter of 2010, according to Refinitiv data.Payments firm Square Inc SQ.N rose 4.2% after reporting a better-than-expected quarterly profit, as surging demand for bitcoin fueled a jump in cryptocurrency transactions on its application. (Full Story)Streaming device maker Roku Inc ROKU.O jumped 11.5%following an upbeat revenue outlook, while fitness equipment maker Peloton Interactive Inc PTON.O gained as it laid out steps to improve the safety of its equipment. (Full Story) (Full Story)Expedia Group Inc EXPE.O shares rose 5.2% as analysts raised price targets following the company’s upbeat results.Advancing issues outnumbered declining ones on the NYSE by a 3.27-to-1 ratio; on Nasdaq, a 2.12-to-1 ratio favored advancers.The S&P 500 posted 164 new 52-week highs and one new low; the Nasdaq Composite recorded 164 new highs and 64 new lows.Volume on U.S. exchanges was 10.23 billion shares, compared with the 10.11 billion average for the full session over the last 20 trading days.","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"UPRO":0.9,"SDS":0.9,"OEF":0.9,"ROKU":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9,"EXPE":0.9,"SPXU":0.9,"IVV":0.9,"SH":0.9,".SPX":0.9,"SSO":0.9,"MSFT":0.9,"OEX":0.9,"AAPL":0.9,"ESmain":0.9,"SQ":0.9}},"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146191802,"gmtCreate":1626057253506,"gmtModify":1633930562287,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Great article that gives a good idea of what’s going on. Thanks.","listText":"Great article that gives a good idea of what’s going on. Thanks.","text":"Great article that gives a good idea of what’s going on. 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target?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809333261","repostId":"1186319253","repostType":4,"isVote":1,"tweetType":1,"viewCount":689,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142843992,"gmtCreate":1626142741316,"gmtModify":1633929697347,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Long &nbsp;NIO&nbsp;","listText":"Long &nbsp;NIO&nbsp;","text":"Long 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away!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/164999866","repostId":"1126454279","repostType":4,"isVote":1,"tweetType":1,"viewCount":475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107364218,"gmtCreate":1620446117034,"gmtModify":1634198692209,"author":{"id":"3582452363948297","authorId":"3582452363948297","name":"Class87low","avatar":"https://static.tigerbbs.com/bea9137d0bcd8347b0a3c7fa4b32b670","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582452363948297","idStr":"3582452363948297"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/107364218","repostId":"1117194592","repostType":4,"repost":{"id":"1117194592","kind":"news","pubTimestamp":1620443747,"share":"https://www.laohu8.com/m/news/1117194592?lang=zh_CN&edition=full","pubTime":"2021-05-08 11:15","market":"us","language":"en","title":"Forget Dogecoin -- This Stock Is a Better Buy<blockquote>忘记狗狗币——这只股票更值得买入</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117194592","media":"fool","summary":"It's probably a safe bet to say that many of the buyers of Dogecoin did so because they are hoping t","content":"<p>It's probably a safe bet to say that many of the buyers of&nbsp;<b>Dogecoin</b>&nbsp;did so because they are hoping the meme cryptocurrency will go \"to the moon.\" But it'shard to make a real investment casefor something that jumps -- or drops -- 26% in value in the course of a day's trading just becauseElon MuskorMark Cubanmentions it in a tweet.</p><p><blockquote>可以肯定地说，许多买家<b>狗狗币</b>这样做是因为他们希望迷因加密货币能够“登上月球”。但仅仅因为埃隆·马斯克马克·库班(Elon MuskorMark Cuban)在推文中提到，就很难为一天交易过程中价值上涨或下跌26%的东西做出真正的投资案例。</blockquote></p><p>Investors looking for a moonshot investment would be better served to take a flier on a company in a sector that promises to create a fundamental shift in an existing industry. Electric vehicle (EV) sales are expected to jump from 1.7 million in 2020 to 8.5 million just by 2025, and to 26 million 10 years from now, according to industry research provider<i>BloombergNEF</i>. And the firm expects EV sales to more than double again in the following 10 years.</p><p><blockquote>寻求登月投资的投资者最好选择一家有望给现有行业带来根本性转变的公司。据行业研究提供商称，电动汽车(EV)销量预计将从2020年的170万辆跃升至2025年的850万辆，10年后将增至2600万辆<i>彭博新能源财经</i>.该公司预计未来10年电动汽车销量将再次增长一倍以上。</blockquote></p><p>Charging station network leader&nbsp;<b>ChargePoint Holdings</b>(NYSE:CHPT)&nbsp;is established in the business, and investors in this company could ride the explosive EV growth trend.</p><p><blockquote>充电站网络领导者<b>ChargePoint控股</b>（纽约证券交易所股票代码：CHPT）已在该业务中成立，该公司的投资者可以驾驭电动汽车爆炸性增长趋势。</blockquote></p><p><b>De-SPAC results</b></p><p><blockquote><b>特殊目的收购公司并购业绩</b></blockquote></p><p>ChargePoint went public on March 1 through a special purpose acquisition company (SPAC) merger. But unlike somede-SPAC companiesin the EV space, the company has so far met its sales expectations and kept its future outlook unchanged. That's because it was already an established business before going public, with more than 4,000 commercial and fleet customers, and more than 132,000 charging locations on its network in North America and Europe.</p><p><blockquote>ChargePoint于3月1日通过特殊目的收购公司(SPAC)合并上市。但与电动汽车领域的一些特殊目的收购公司不同，该公司迄今为止已达到销售预期，并保持未来前景不变。这是因为它在上市之前就已经是一家成熟的企业，在北美和欧洲的网络上拥有4,000多个商业和车队客户，以及超过132,000个充电点。</blockquote></p><p>There is, and will be, plenty of competition in this space. But ChargePoint exists as one of the largest compared to other domestic and international players. Past and estimated future revenue of several in the sector are shown below.</p><p><blockquote>这个领域现在和将来都会有很多竞争。但与其他国内外参与者相比，ChargePoint是最大的参与者之一。该行业几家公司的过去和预计未来收入如下所示。</blockquote></p><p><table><tbody><tr><th>Company</th><th>2021 Revenue Estimate (million)</th><th>2020 Revenue (million)</th></tr><tr><td>ChargePoint</td><td>$200</td><td>$146</td></tr><tr><td>EVBox</td><td>$145</td><td>$84</td></tr><tr><td>Volta</td><td>$47</td><td>$25</td></tr><tr><td>EVgo</td><td>$20</td><td>$14</td></tr><tr><td>Blink Charging</td><td>NP*</td><td>$6.2</td></tr></tbody></table>DATA SOURCE: COMPANY FINANCIALS. *NOT PROVIDED</p><p><blockquote><table><tbody><tr><th>公司</th><th>2021年收入预测（百万）</th><th>2020年收入（百万）</th></tr><tr><td>充电点</td><td>$200</td><td>$146</td></tr><tr><td>EVBox</td><td>$145</td><td>$84</td></tr><tr><td>沃尔特</td><td>$47</td><td>$25</td></tr><tr><td>EVgo</td><td>$20</td><td>$14</td></tr><tr><td>闪烁充电</td><td>NP*</td><td>$6.2</td></tr></tbody></table>数据来源：公司财务。*未提供</blockquote></p><p><b>ChargePoint is the current favorite</b></p><p><blockquote><b>ChargePoint是当前的最爱</b></blockquote></p><p>ChargePoint already has a large lead in North America with a 70% share of Level 2 charging networks, which use 240-volt power. Its comprehensive network of offerings also includes more than 2,000 publicly available fast-charging stations. Its suite of products caters to the needs of EV fleet owners, parking operators, and consumers, as well as corporations and municipalities.</p><p><blockquote>ChargePoint在北美已经遥遥领先，在使用240伏电源的2级充电网络中占有70%的份额。其全面的产品网络还包括2,000多个公共快速充电站。其产品套件可满足电动汽车车主、停车运营商和消费者以及企业和市政当局的需求。</blockquote></p><p>And in a sign of how large the market can grow, President Joe Biden has proposed installing 500,000 new charging stations in the U.S. as part of an infrastructure initiative. He also intends to electrify bus fleets and government vehicle fleets. While ChargePoint supports the infrastructure package, and would almost certainly be a beneficiary of its passage, the company doesn't need that catalyst for its charging network to grow rapidly.</p><p><blockquote>作为基础设施计划的一部分，乔·拜登总统提议在美国安装50万个新充电站，这表明市场可以增长多大。他还打算让公交车队和政府车队电气化。虽然ChargePoint支持基础设施一揽子计划，并且几乎肯定会成为其通过的受益者，但该公司并不需要这种催化剂来使其充电网络快速增长。</blockquote></p><p><b>Investors should play the odds and think long-term</b></p><p><blockquote><b>投资者应把握机遇，着眼长远</b></blockquote></p><p>Betting on the EV sector is not a short-term strategy. But if the exponential global growth to more than 54 million vehicles by 2040 materializes, today's high valuations in the sector could eventually be more than justified. Just looking at the two with the highest and lowest 2020 revenue, respectively, theprice-to-sales ratiosare about 50 for ChargePoint, but 250 for&nbsp;<b>Blink Charging</b>(NASDAQ:BLNK).</p><p><blockquote>押注电动汽车行业不是短期策略。但如果到2040年全球汽车保有量实现超过5400万辆的指数增长，那么该行业目前的高估值最终可能是合理的。仅从2020年收入最高和最低的两家公司来看，ChargePoint的市销率约为50，但ChargePoint的市销率为250<b>闪烁充电</b>（纳斯达克：BLNK）。</blockquote></p><p>A bet on the charging network sector has no guarantee of success, of course. It's possible that automakers will try to have proprietary networks similar to&nbsp;<b>Tesla</b>'s(NASDAQ:TSLA)supercharger network model. But asautomakersramp up EV production, it would seem to make more sense for them to focus on what they know best, potentially including battery production.</p><p><blockquote>当然，押注充电网络领域并不能保证成功。汽车制造商可能会尝试拥有类似于<b>特斯拉</b>（纳斯达克：TSLA）的超级充电网络模型。但随着汽车制造商提高电动汽车产量，他们专注于自己最了解的领域（可能包括电池生产）似乎更有意义。</blockquote></p><p>For an investor wanting to speculate for big gains, charging companies have an established business in a quickly growing sector. Dogecoin keeps going up as Elon Musk or others excite retail trader interest. But if that's the only reason it's rising, it can't continue long term. A charging company like ChargePoint should have better odds at providing long-term gains.</p><p><blockquote>对于想要投机获取巨额收益的投资者来说，充电公司在快速增长的行业中拥有成熟的业务。随着埃隆·马斯克或其他人激发散户的兴趣，狗狗币持续上涨。但如果这是它上涨的唯一原因，它就不可能长期持续下去。像ChargePoint这样的充电公司应该更有可能提供长期收益。</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>Forget Dogecoin -- This Stock Is a Better Buy<blockquote>忘记狗狗币——这只股票更值得买入</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\">\nForget Dogecoin -- This Stock Is a Better Buy<blockquote>忘记狗狗币——这只股票更值得买入</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">fool</strong><span class=\"h-time small\">2021-05-08 11:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It's probably a safe bet to say that many of the buyers of&nbsp;<b>Dogecoin</b>&nbsp;did so because they are hoping the meme cryptocurrency will go \"to the moon.\" But it'shard to make a real investment casefor something that jumps -- or drops -- 26% in value in the course of a day's trading just becauseElon MuskorMark Cubanmentions it in a tweet.</p><p><blockquote>可以肯定地说，许多买家<b>狗狗币</b>这样做是因为他们希望迷因加密货币能够“登上月球”。但仅仅因为埃隆·马斯克马克·库班(Elon MuskorMark Cuban)在推文中提到，就很难为一天交易过程中价值上涨或下跌26%的东西做出真正的投资案例。</blockquote></p><p>Investors looking for a moonshot investment would be better served to take a flier on a company in a sector that promises to create a fundamental shift in an existing industry. Electric vehicle (EV) sales are expected to jump from 1.7 million in 2020 to 8.5 million just by 2025, and to 26 million 10 years from now, according to industry research provider<i>BloombergNEF</i>. And the firm expects EV sales to more than double again in the following 10 years.</p><p><blockquote>寻求登月投资的投资者最好选择一家有望给现有行业带来根本性转变的公司。据行业研究提供商称，电动汽车(EV)销量预计将从2020年的170万辆跃升至2025年的850万辆，10年后将增至2600万辆<i>彭博新能源财经</i>.该公司预计未来10年电动汽车销量将再次增长一倍以上。</blockquote></p><p>Charging station network leader&nbsp;<b>ChargePoint Holdings</b>(NYSE:CHPT)&nbsp;is established in the business, and investors in this company could ride the explosive EV growth trend.</p><p><blockquote>充电站网络领导者<b>ChargePoint控股</b>（纽约证券交易所股票代码：CHPT）已在该业务中成立，该公司的投资者可以驾驭电动汽车爆炸性增长趋势。</blockquote></p><p><b>De-SPAC results</b></p><p><blockquote><b>特殊目的收购公司并购业绩</b></blockquote></p><p>ChargePoint went public on March 1 through a special purpose acquisition company (SPAC) merger. But unlike somede-SPAC companiesin the EV space, the company has so far met its sales expectations and kept its future outlook unchanged. That's because it was already an established business before going public, with more than 4,000 commercial and fleet customers, and more than 132,000 charging locations on its network in North America and Europe.</p><p><blockquote>ChargePoint于3月1日通过特殊目的收购公司(SPAC)合并上市。但与电动汽车领域的一些特殊目的收购公司不同，该公司迄今为止已达到销售预期，并保持未来前景不变。这是因为它在上市之前就已经是一家成熟的企业，在北美和欧洲的网络上拥有4,000多个商业和车队客户，以及超过132,000个充电点。</blockquote></p><p>There is, and will be, plenty of competition in this space. But ChargePoint exists as one of the largest compared to other domestic and international players. Past and estimated future revenue of several in the sector are shown below.</p><p><blockquote>这个领域现在和将来都会有很多竞争。但与其他国内外参与者相比，ChargePoint是最大的参与者之一。该行业几家公司的过去和预计未来收入如下所示。</blockquote></p><p><table><tbody><tr><th>Company</th><th>2021 Revenue Estimate (million)</th><th>2020 Revenue (million)</th></tr><tr><td>ChargePoint</td><td>$200</td><td>$146</td></tr><tr><td>EVBox</td><td>$145</td><td>$84</td></tr><tr><td>Volta</td><td>$47</td><td>$25</td></tr><tr><td>EVgo</td><td>$20</td><td>$14</td></tr><tr><td>Blink Charging</td><td>NP*</td><td>$6.2</td></tr></tbody></table>DATA SOURCE: COMPANY FINANCIALS. *NOT PROVIDED</p><p><blockquote><table><tbody><tr><th>公司</th><th>2021年收入预测（百万）</th><th>2020年收入（百万）</th></tr><tr><td>充电点</td><td>$200</td><td>$146</td></tr><tr><td>EVBox</td><td>$145</td><td>$84</td></tr><tr><td>沃尔特</td><td>$47</td><td>$25</td></tr><tr><td>EVgo</td><td>$20</td><td>$14</td></tr><tr><td>闪烁充电</td><td>NP*</td><td>$6.2</td></tr></tbody></table>数据来源：公司财务。*未提供</blockquote></p><p><b>ChargePoint is the current favorite</b></p><p><blockquote><b>ChargePoint是当前的最爱</b></blockquote></p><p>ChargePoint already has a large lead in North America with a 70% share of Level 2 charging networks, which use 240-volt power. Its comprehensive network of offerings also includes more than 2,000 publicly available fast-charging stations. Its suite of products caters to the needs of EV fleet owners, parking operators, and consumers, as well as corporations and municipalities.</p><p><blockquote>ChargePoint在北美已经遥遥领先，在使用240伏电源的2级充电网络中占有70%的份额。其全面的产品网络还包括2,000多个公共快速充电站。其产品套件可满足电动汽车车主、停车运营商和消费者以及企业和市政当局的需求。</blockquote></p><p>And in a sign of how large the market can grow, President Joe Biden has proposed installing 500,000 new charging stations in the U.S. as part of an infrastructure initiative. He also intends to electrify bus fleets and government vehicle fleets. While ChargePoint supports the infrastructure package, and would almost certainly be a beneficiary of its passage, the company doesn't need that catalyst for its charging network to grow rapidly.</p><p><blockquote>作为基础设施计划的一部分，乔·拜登总统提议在美国安装50万个新充电站，这表明市场可以增长多大。他还打算让公交车队和政府车队电气化。虽然ChargePoint支持基础设施一揽子计划，并且几乎肯定会成为其通过的受益者，但该公司并不需要这种催化剂来使其充电网络快速增长。</blockquote></p><p><b>Investors should play the odds and think long-term</b></p><p><blockquote><b>投资者应把握机遇，着眼长远</b></blockquote></p><p>Betting on the EV sector is not a short-term strategy. But if the exponential global growth to more than 54 million vehicles by 2040 materializes, today's high valuations in the sector could eventually be more than justified. Just looking at the two with the highest and lowest 2020 revenue, respectively, theprice-to-sales ratiosare about 50 for ChargePoint, but 250 for&nbsp;<b>Blink Charging</b>(NASDAQ:BLNK).</p><p><blockquote>押注电动汽车行业不是短期策略。但如果到2040年全球汽车保有量实现超过5400万辆的指数增长，那么该行业目前的高估值最终可能是合理的。仅从2020年收入最高和最低的两家公司来看，ChargePoint的市销率约为50，但ChargePoint的市销率为250<b>闪烁充电</b>（纳斯达克：BLNK）。</blockquote></p><p>A bet on the charging network sector has no guarantee of success, of course. It's possible that automakers will try to have proprietary networks similar to&nbsp;<b>Tesla</b>'s(NASDAQ:TSLA)supercharger network model. But asautomakersramp up EV production, it would seem to make more sense for them to focus on what they know best, potentially including battery production.</p><p><blockquote>当然，押注充电网络领域并不能保证成功。汽车制造商可能会尝试拥有类似于<b>特斯拉</b>（纳斯达克：TSLA）的超级充电网络模型。但随着汽车制造商提高电动汽车产量，他们专注于自己最了解的领域（可能包括电池生产）似乎更有意义。</blockquote></p><p>For an investor wanting to speculate for big gains, charging companies have an established business in a quickly growing sector. Dogecoin keeps going up as Elon Musk or others excite retail trader interest. But if that's the only reason it's rising, it can't continue long term. A charging company like ChargePoint should have better odds at providing long-term gains.</p><p><blockquote>对于想要投机获取巨额收益的投资者来说，充电公司在快速增长的行业中拥有成熟的业务。随着埃隆·马斯克或其他人激发散户的兴趣，狗狗币持续上涨。但如果这是它上涨的唯一原因，它就不可能长期持续下去。像ChargePoint这样的充电公司应该更有可能提供长期收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/05/07/forget-dogecoin-this-stock-is-a-better-buy/\">fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CHPT":"ChargePoint Holdings Inc."},"source_url":"https://www.fool.com/investing/2021/05/07/forget-dogecoin-this-stock-is-a-better-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117194592","content_text":"It's probably a safe bet to say that many of the buyers of Dogecoin did so because they are hoping the meme cryptocurrency will go \"to the moon.\" But it'shard to make a real investment casefor something that jumps -- or drops -- 26% in value in the course of a day's trading just becauseElon MuskorMark Cubanmentions it in a tweet.Investors looking for a moonshot investment would be better served to take a flier on a company in a sector that promises to create a fundamental shift in an existing industry. Electric vehicle (EV) sales are expected to jump from 1.7 million in 2020 to 8.5 million just by 2025, and to 26 million 10 years from now, according to industry research providerBloombergNEF. And the firm expects EV sales to more than double again in the following 10 years.Charging station network leader ChargePoint Holdings(NYSE:CHPT) is established in the business, and investors in this company could ride the explosive EV growth trend.De-SPAC resultsChargePoint went public on March 1 through a special purpose acquisition company (SPAC) merger. But unlike somede-SPAC companiesin the EV space, the company has so far met its sales expectations and kept its future outlook unchanged. That's because it was already an established business before going public, with more than 4,000 commercial and fleet customers, and more than 132,000 charging locations on its network in North America and Europe.There is, and will be, plenty of competition in this space. But ChargePoint exists as one of the largest compared to other domestic and international players. Past and estimated future revenue of several in the sector are shown below.Company2021 Revenue Estimate (million)2020 Revenue (million)ChargePoint$200$146EVBox$145$84Volta$47$25EVgo$20$14Blink ChargingNP*$6.2DATA SOURCE: COMPANY FINANCIALS. *NOT PROVIDEDChargePoint is the current favoriteChargePoint already has a large lead in North America with a 70% share of Level 2 charging networks, which use 240-volt power. Its comprehensive network of offerings also includes more than 2,000 publicly available fast-charging stations. Its suite of products caters to the needs of EV fleet owners, parking operators, and consumers, as well as corporations and municipalities.And in a sign of how large the market can grow, President Joe Biden has proposed installing 500,000 new charging stations in the U.S. as part of an infrastructure initiative. He also intends to electrify bus fleets and government vehicle fleets. While ChargePoint supports the infrastructure package, and would almost certainly be a beneficiary of its passage, the company doesn't need that catalyst for its charging network to grow rapidly.Investors should play the odds and think long-termBetting on the EV sector is not a short-term strategy. But if the exponential global growth to more than 54 million vehicles by 2040 materializes, today's high valuations in the sector could eventually be more than justified. Just looking at the two with the highest and lowest 2020 revenue, respectively, theprice-to-sales ratiosare about 50 for ChargePoint, but 250 for Blink Charging(NASDAQ:BLNK).A bet on the charging network sector has no guarantee of success, of course. It's possible that automakers will try to have proprietary networks similar to Tesla's(NASDAQ:TSLA)supercharger network model. But asautomakersramp up EV production, it would seem to make more sense for them to focus on what they know best, potentially including battery production.For an investor wanting to speculate for big gains, charging companies have an established business in a quickly growing sector. Dogecoin keeps going up as Elon Musk or others excite retail trader interest. But if that's the only reason it's rising, it can't continue long term. A charging company like ChargePoint should have better odds at providing long-term gains.","news_type":1,"symbols_score_info":{"CHPT":0.9}},"isVote":1,"tweetType":1,"viewCount":653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}