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2021-08-22

Cool

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2021-08-19

Wow

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2021-07-23

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2021-08-18

Cool

3 Stocks I'm Never Selling<blockquote>我从不出售的 3 只股票</blockquote>

2021-07-18

Cool

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2021-08-01

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2021-08-12

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BioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech 和 Moderna 因 FDA 可能批准加强剂的报道而获益</blockquote>

2021-08-08

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SEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC 提起首例 DeFi 未注册证券诉讼</blockquote>

2021-07-22

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2021-08-26

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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1629893760,"share":"https://www.laohunote.com/m/news/1179982896?lang=zh_CN&edition=full","pubTime":"2021-08-25 20:16","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1179982896","media":"Tiger Newspress","summary":"U.S. stock index futures were steady on Wednesday after another record close for the S&P 500 and the","content":"<p>U.S. stock index futures were steady on Wednesday after another record close for the S&amp;P 500 and the Nasdaq, while investors watched progress in the government's multi-trillion-dollar investment plans.</p><p><blockquote>在标普500和纳斯达克再次创纪录收盘后，美国股指期货周三保持稳定，而投资者则关注政府数万亿美元投资计划的进展。</blockquote></p><p> At 7:55 a.m. ET, Dow e-minis were down 3 points, or 0.07%, S&amp;P 500 e-minis were down 12 points, or 0.03%, and Nasdaq 100 e-minis were down 14.50 points, or 0.09%.</p><p><blockquote>美国东部时间上午 7:55，道琼斯电子迷你指数下跌 3 点，跌幅 0.07%，标普500电子迷你指数下跌 12 点，跌幅 0.03%，纳斯达克 100 电子迷你指数下跌 14.50 点，跌幅 0.09%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9af471a9313fe339e69031eb18ce40e2\" tg-width=\"1080\" tg-height=\"380\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Major Wall Street lenders were mixed, while industrials including Caterpillar Inc&nbsp;and 3M Co&nbsp;inched up about 0.3% after the Democratic-controlled U.S. House of Representatives approved a $3.5 trillion budget framework and agreed to vote by Sept. 27 on a $1 trillion Senate-passed infrastructure bill.</p><p><blockquote>华尔街主要银行涨跌互现，而在民主党控制的美国众议院批准了 3.5 万亿美元的预算框架并同意在 9 月 27 日之前就参议院通过的 1 万亿美元基础设施法案进行投票后，包括卡特彼勒公司 (Caterpillar Inc) 和 3M Co 在内的工业公司小幅上涨约 0.3%。</blockquote></p><p> Shares of several retail trading darlings, including Express, AMC Entertainment&nbsp;and Koss Corp, rose between 1.4% and 8.4%, a day after dealing over $1 billion in losses to short sellers in late heavy volume trading on no apparent news.</p><p><blockquote>包括 Express、AMC院线和 Koss Corp 在内的几家零售交易宠儿的股价上涨了 1.4% 至 8.4%，一天前，在没有明显消息的情况下，在尾盘放量交易中卖空者损失了超过 10 亿美元。</blockquote></p><p> Focus is now on the Federal Reserve's annual economic symposium at Jackson Hole on Friday for views on when the central bank will start tapering its massive asset purchases program.</p><p><blockquote>现在的焦点是周五在杰克逊霍尔举行的美联储年度经济研讨会，以了解美联储何时开始缩减大规模资产购买计划。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前波动最大的股票：</b></blockquote></p><p> TSMC(TSM)&nbsp;–&nbsp;Shares of Taiwan Semiconductor Manufacturing Co. rose 2.7%&nbsp;in premarket trading after local media reported that the world's largest contract chipmaker will raise product prices due to a global supply shortage, dealers said.</p><p><blockquote>台积电（TSM）——经销商表示，当地媒体报道称，由于全球供应短缺，这家全球最大的合同芯片制造商将提高产品价格，台积电股价在盘前交易中上涨 2.7%。</blockquote></p><p> Dick’s Sporting Goods(DKS) – The sporting goods retailer’s shares jumped 11.4% in the premarket, as its quarterly earnings beat estimates. The company also announced a $5.50 per share special dividend and a 21% increase in its quarterly dividend. Dick’s earned an adjusted $5.08 per share for its latest quarter, beating the consensus estimate of $2.80.</p><p><blockquote>迪克体育用品公司（DKS）--由于季度盈利超出预期，这家体育用品零售商的股价在盘前大涨 11.4%。该公司还宣布派发每股 5.50 美元的特别股息，并将季度股息增加 21%。Dick's 最近一个季度调整后每股收益为 5.08 美元，超过了市场普遍预期的 2.80 美元。</blockquote></p><p> Johnson &amp; Johnson(JNJ) – Johnson &amp; Johnson said study data supports the benefits of a booster shot for recipients of its Covid-19 vaccine. The dose sharply increased levels of antibodies in two early-stage trials.</p><p><blockquote>强生公司（JNJ）——强生公司表示，研究数据支持其 Covid-19 疫苗接种者加强注射的好处。在两项早期试验中，该剂量急剧增加了抗体水平。</blockquote></p><p> Express(EXPR) – Shares of the apparel retailer rallied 5.2% in the premarket after the company reported an unexpected profit for its latest quarter. Express earned 2 cents per share, compared with forecasts of a 30 cents per share loss, and revenue also came in above analyst forecasts.</p><p><blockquote>Express (EXPR) – 这家服装零售商公布最新季度意外盈利后，其股价在盘前上涨 5.2%。Express 每股收益为 2 美分，而预测为每股亏损 30 美分，收入也高于分析师的预测。</blockquote></p><p> Shoe Carnival(SCVL) – The shoe retailer reported a quarterly profit of $1.54 per share, more than double the 75 cent consensus estimate, with revenue also exceeding Wall Street forecasts and comparable sales rising 11.4%. Shoe Carnival gained 2.2% in the premarket.</p><p><blockquote>Shoe Carnival (SCVL) – 这家鞋类零售商公布季度利润为每股 1.54 美元，是市场普遍预期 75 美分的两倍多，收入也超出了华尔街的预测，可比销售额增长了 11.4%。鞋嘉年华盘前上涨2.2%。</blockquote></p><p> Cassava Biosciences(SAVA) – The biotechnology company said claims posted online late yesterday challenging its scientific integrity are false and misleading. The issue revolved around study data for an Alzheimer’s disease treatment. Cassava released a statement refuting each of 15 claims that the company calls “fiction.” Cassava tumbled 22.6% in the premarket.</p><p><blockquote>Cassava Biosciences（SAVA）——这家生物技术公司表示，昨天晚些时候在网上发布的质疑其科学诚信的说法是虚假的，具有误导性。这个问题围绕着阿尔茨海默病治疗的研究数据展开。Cassava 发表声明，驳斥了有关该公司评级 “虚构 ”的 15 项说法。木薯盘前下跌 22.6%。</blockquote></p><p> Urban Outfitters(URBN) – Urban Outfitters earned $1.28 per share for its latest quarter, beating the 77 cents consensus estimate. The apparel retailer’s revenue was also above forecasts. Urban Outfitters benefited from a sizeable increase in digital sales compared with pre-pandemic levels. However, the company also mentioned that it is dealing with supply chain issues, and its shares lost 5.2% in premarket trading.</p><p><blockquote>Urban Outfitters (URBN) – Urban Outfitters 最新季度每股收益为 1.28 美元，超过市场普遍预期的 77 美分。这家服装零售商的收入也高于预期。与大流行前的水平相比，Urban Outfitters受益于数字销售的大幅增长。不过，该公司也提到正在处理供应链问题，其股价在盘前交易中下跌5.2%。</blockquote></p><p> Nordstrom(JWN) – Nordstrom tumbled 11.5% in premarket trading after its quarterly report showed revenue for its latest quarter was still below pre-pandemic levels. The department store operator did beat the 27 cents estimate for its latest quarter with earnings of 49 cents per share, and revenue above forecasts. Nordstrom raised its full-year outlook as well.</p><p><blockquote>Nordstrom (JWN) – Nordstrom 在季度报告显示其最新季度的收入仍低于大流行前的水平后，在盘前交易中暴跌 11.5%。这家百货商店运营商最近一个季度的每股收益为 49 美分，超出了 27 美分的预期，收入也高于预期。诺德斯特龙也上调了全年展望。</blockquote></p><p> Toll Brothers(TOL) – Toll Brothers reported quarterly earnings of $1.87 per share, 32 cents above the consensus estimate, with the luxury home builder’s revenue essentially in line with Wall Street forecasts. Low overall inventories in the housing market and low mortgage rates helped boost the company’s results. Toll Brothers gained 1.9% in premarket action.</p><p><blockquote>Toll Brothers（TOL）--Toll Brothers 公布的季度收益为每股 1.87 美元，比市场普遍预期高出 32 美分，这家豪华住宅建筑商的收入与华尔街的预测基本一致。房地产市场整体库存较低，抵押贷款利率较低，这有助于提振公司业绩。Toll Brothers 在盘前交易中上涨 1.9%。</blockquote></p><p> Intuit(INTU) – Intuit beat estimates by 38 cents with adjusted quarterly earnings of $1.97, while the financial software company’s revenue topped estimates. The maker of TurboTax also issued an upbeat outlook, raised its dividend and boosted its stock buyback program. The stock added 2.4% in the premarket.</p><p><blockquote>Intuit（INTU）--Intuit 调整后季度收益为 1.97 美元，超出预期 38 美分，而这家财务软件公司的收入也超过了预期。TurboTax 的制造商还发布了乐观的前景，提高了股息并加大了股票回购计划。该股盘前上涨2.4%。</blockquote></p><p> Meme Stocks – So-called “meme” stocks remain on watch after late Tuesday rallies.AMC Entertainment,Koss,Robinhood and&nbsp;ContextLogic all surged despite a lack of news on any of those companies. Koss rose 1.7% in the premarket, AMC jumped 2.6%,GameStop&nbsp;fell&nbsp;1.6%&nbsp;and Robinhood fell 0.1%.</p><p><blockquote>Meme 股票--所谓的 “Meme ”股票在周二晚些时候上涨后仍备受关注。AMC Entertainment、Koss、Robinhood 和 ContextLogic 都在飙升，尽管这些公司都没有消息。Koss盘前上涨1.7%，AMC上涨2.6%，GameStop下跌1.6%，Robinhood下跌0.1%。</blockquote></p><p></p><p> Campbell Soup(CPB) – Campbell Soup was downgraded to “neutral” from “overweight” at Piper Sandler, which cited increasing commodity costs among other factors. Campbell shares slid 1.4% in premarket trading.</p><p><blockquote>金宝汤（CPB）--Piper Sandler 将金宝汤的评级从 “跑赢大盘 ”下调至 “中性”，理由是商品成本上升等因素。金宝股价在盘前交易中下跌 1.4%。</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>Toplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</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; 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}\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\">\nToplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-25 20:16</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stock index futures were steady on Wednesday after another record close for the S&amp;P 500 and the Nasdaq, while investors watched progress in the government's multi-trillion-dollar investment plans.</p><p><blockquote>在标普500和纳斯达克再次创纪录收盘后，美国股指期货周三保持稳定，而投资者则关注政府数万亿美元投资计划的进展。</blockquote></p><p> At 7:55 a.m. ET, Dow e-minis were down 3 points, or 0.07%, S&amp;P 500 e-minis were down 12 points, or 0.03%, and Nasdaq 100 e-minis were down 14.50 points, or 0.09%.</p><p><blockquote>美国东部时间上午 7:55，道琼斯电子迷你指数下跌 3 点，跌幅 0.07%，标普500电子迷你指数下跌 12 点，跌幅 0.03%，纳斯达克 100 电子迷你指数下跌 14.50 点，跌幅 0.09%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9af471a9313fe339e69031eb18ce40e2\" tg-width=\"1080\" tg-height=\"380\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Major Wall Street lenders were mixed, while industrials including Caterpillar Inc&nbsp;and 3M Co&nbsp;inched up about 0.3% after the Democratic-controlled U.S. House of Representatives approved a $3.5 trillion budget framework and agreed to vote by Sept. 27 on a $1 trillion Senate-passed infrastructure bill.</p><p><blockquote>华尔街主要银行涨跌互现，而在民主党控制的美国众议院批准了 3.5 万亿美元的预算框架并同意在 9 月 27 日之前就参议院通过的 1 万亿美元基础设施法案进行投票后，包括卡特彼勒公司 (Caterpillar Inc) 和 3M Co 在内的工业公司小幅上涨约 0.3%。</blockquote></p><p> Shares of several retail trading darlings, including Express, AMC Entertainment&nbsp;and Koss Corp, rose between 1.4% and 8.4%, a day after dealing over $1 billion in losses to short sellers in late heavy volume trading on no apparent news.</p><p><blockquote>包括 Express、AMC院线和 Koss Corp 在内的几家零售交易宠儿的股价上涨了 1.4% 至 8.4%，一天前，在没有明显消息的情况下，在尾盘放量交易中卖空者损失了超过 10 亿美元。</blockquote></p><p> Focus is now on the Federal Reserve's annual economic symposium at Jackson Hole on Friday for views on when the central bank will start tapering its massive asset purchases program.</p><p><blockquote>现在的焦点是周五在杰克逊霍尔举行的美联储年度经济研讨会，以了解美联储何时开始缩减大规模资产购买计划。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前波动最大的股票：</b></blockquote></p><p> TSMC(TSM)&nbsp;–&nbsp;Shares of Taiwan Semiconductor Manufacturing Co. rose 2.7%&nbsp;in premarket trading after local media reported that the world's largest contract chipmaker will raise product prices due to a global supply shortage, dealers said.</p><p><blockquote>台积电（TSM）——经销商表示，当地媒体报道称，由于全球供应短缺，这家全球最大的合同芯片制造商将提高产品价格，台积电股价在盘前交易中上涨 2.7%。</blockquote></p><p> Dick’s Sporting Goods(DKS) – The sporting goods retailer’s shares jumped 11.4% in the premarket, as its quarterly earnings beat estimates. The company also announced a $5.50 per share special dividend and a 21% increase in its quarterly dividend. Dick’s earned an adjusted $5.08 per share for its latest quarter, beating the consensus estimate of $2.80.</p><p><blockquote>迪克体育用品公司（DKS）--由于季度盈利超出预期，这家体育用品零售商的股价在盘前大涨 11.4%。该公司还宣布派发每股 5.50 美元的特别股息，并将季度股息增加 21%。Dick's 最近一个季度调整后每股收益为 5.08 美元，超过了市场普遍预期的 2.80 美元。</blockquote></p><p> Johnson &amp; Johnson(JNJ) – Johnson &amp; Johnson said study data supports the benefits of a booster shot for recipients of its Covid-19 vaccine. The dose sharply increased levels of antibodies in two early-stage trials.</p><p><blockquote>强生公司（JNJ）——强生公司表示，研究数据支持其 Covid-19 疫苗接种者加强注射的好处。在两项早期试验中，该剂量急剧增加了抗体水平。</blockquote></p><p> Express(EXPR) – Shares of the apparel retailer rallied 5.2% in the premarket after the company reported an unexpected profit for its latest quarter. Express earned 2 cents per share, compared with forecasts of a 30 cents per share loss, and revenue also came in above analyst forecasts.</p><p><blockquote>Express (EXPR) – 这家服装零售商公布最新季度意外盈利后，其股价在盘前上涨 5.2%。Express 每股收益为 2 美分，而预测为每股亏损 30 美分，收入也高于分析师的预测。</blockquote></p><p> Shoe Carnival(SCVL) – The shoe retailer reported a quarterly profit of $1.54 per share, more than double the 75 cent consensus estimate, with revenue also exceeding Wall Street forecasts and comparable sales rising 11.4%. Shoe Carnival gained 2.2% in the premarket.</p><p><blockquote>Shoe Carnival (SCVL) – 这家鞋类零售商公布季度利润为每股 1.54 美元，是市场普遍预期 75 美分的两倍多，收入也超出了华尔街的预测，可比销售额增长了 11.4%。鞋嘉年华盘前上涨2.2%。</blockquote></p><p> Cassava Biosciences(SAVA) – The biotechnology company said claims posted online late yesterday challenging its scientific integrity are false and misleading. The issue revolved around study data for an Alzheimer’s disease treatment. Cassava released a statement refuting each of 15 claims that the company calls “fiction.” Cassava tumbled 22.6% in the premarket.</p><p><blockquote>Cassava Biosciences（SAVA）——这家生物技术公司表示，昨天晚些时候在网上发布的质疑其科学诚信的说法是虚假的，具有误导性。这个问题围绕着阿尔茨海默病治疗的研究数据展开。Cassava 发表声明，驳斥了有关该公司评级 “虚构 ”的 15 项说法。木薯盘前下跌 22.6%。</blockquote></p><p> Urban Outfitters(URBN) – Urban Outfitters earned $1.28 per share for its latest quarter, beating the 77 cents consensus estimate. The apparel retailer’s revenue was also above forecasts. Urban Outfitters benefited from a sizeable increase in digital sales compared with pre-pandemic levels. However, the company also mentioned that it is dealing with supply chain issues, and its shares lost 5.2% in premarket trading.</p><p><blockquote>Urban Outfitters (URBN) – Urban Outfitters 最新季度每股收益为 1.28 美元，超过市场普遍预期的 77 美分。这家服装零售商的收入也高于预期。与大流行前的水平相比，Urban Outfitters受益于数字销售的大幅增长。不过，该公司也提到正在处理供应链问题，其股价在盘前交易中下跌5.2%。</blockquote></p><p> Nordstrom(JWN) – Nordstrom tumbled 11.5% in premarket trading after its quarterly report showed revenue for its latest quarter was still below pre-pandemic levels. The department store operator did beat the 27 cents estimate for its latest quarter with earnings of 49 cents per share, and revenue above forecasts. Nordstrom raised its full-year outlook as well.</p><p><blockquote>Nordstrom (JWN) – Nordstrom 在季度报告显示其最新季度的收入仍低于大流行前的水平后，在盘前交易中暴跌 11.5%。这家百货商店运营商最近一个季度的每股收益为 49 美分，超出了 27 美分的预期，收入也高于预期。诺德斯特龙也上调了全年展望。</blockquote></p><p> Toll Brothers(TOL) – Toll Brothers reported quarterly earnings of $1.87 per share, 32 cents above the consensus estimate, with the luxury home builder’s revenue essentially in line with Wall Street forecasts. Low overall inventories in the housing market and low mortgage rates helped boost the company’s results. Toll Brothers gained 1.9% in premarket action.</p><p><blockquote>Toll Brothers（TOL）--Toll Brothers 公布的季度收益为每股 1.87 美元，比市场普遍预期高出 32 美分，这家豪华住宅建筑商的收入与华尔街的预测基本一致。房地产市场整体库存较低，抵押贷款利率较低，这有助于提振公司业绩。Toll Brothers 在盘前交易中上涨 1.9%。</blockquote></p><p> Intuit(INTU) – Intuit beat estimates by 38 cents with adjusted quarterly earnings of $1.97, while the financial software company’s revenue topped estimates. The maker of TurboTax also issued an upbeat outlook, raised its dividend and boosted its stock buyback program. The stock added 2.4% in the premarket.</p><p><blockquote>Intuit（INTU）--Intuit 调整后季度收益为 1.97 美元，超出预期 38 美分，而这家财务软件公司的收入也超过了预期。TurboTax 的制造商还发布了乐观的前景，提高了股息并加大了股票回购计划。该股盘前上涨2.4%。</blockquote></p><p> Meme Stocks – So-called “meme” stocks remain on watch after late Tuesday rallies.AMC Entertainment,Koss,Robinhood and&nbsp;ContextLogic all surged despite a lack of news on any of those companies. Koss rose 1.7% in the premarket, AMC jumped 2.6%,GameStop&nbsp;fell&nbsp;1.6%&nbsp;and Robinhood fell 0.1%.</p><p><blockquote>Meme 股票--所谓的 “Meme ”股票在周二晚些时候上涨后仍备受关注。AMC Entertainment、Koss、Robinhood 和 ContextLogic 都在飙升，尽管这些公司都没有消息。Koss盘前上涨1.7%，AMC上涨2.6%，GameStop下跌1.6%，Robinhood下跌0.1%。</blockquote></p><p></p><p> Campbell Soup(CPB) – Campbell Soup was downgraded to “neutral” from “overweight” at Piper Sandler, which cited increasing commodity costs among other factors. Campbell shares slid 1.4% in premarket trading.</p><p><blockquote>金宝汤（CPB）--Piper Sandler 将金宝汤的评级从 “跑赢大盘 ”下调至 “中性”，理由是商品成本上升等因素。金宝股价在盘前交易中下跌 1.4%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HOOD":"Robinhood",".IXIC":"NASDAQ Composite","DKS":"迪克体育用品","TOL":"托尔兄弟",".SPX":"S&P 500 Index","GME":"游戏驿站","URBN":"都市服饰","AMC":"AMC院线","JWN":"诺德斯特龙","KOSS":"高斯电子","EXPR":"Express, Inc.","TSM":"台积电",".DJI":"道琼斯","JNJ":"强生"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179982896","content_text":"U.S. stock index futures were steady on Wednesday after another record close for the S&P 500 and the Nasdaq, while investors watched progress in the government's multi-trillion-dollar investment plans.\nAt 7:55 a.m. ET, Dow e-minis were down 3 points, or 0.07%, S&P 500 e-minis were down 12 points, or 0.03%, and Nasdaq 100 e-minis were down 14.50 points, or 0.09%.\n\nMajor Wall Street lenders were mixed, while industrials including Caterpillar Inc and 3M Co inched up about 0.3% after the Democratic-controlled U.S. House of Representatives approved a $3.5 trillion budget framework and agreed to vote by Sept. 27 on a $1 trillion Senate-passed infrastructure bill.\nShares of several retail trading darlings, including Express, AMC Entertainment and Koss Corp, rose between 1.4% and 8.4%, a day after dealing over $1 billion in losses to short sellers in late heavy volume trading on no apparent news.\nFocus is now on the Federal Reserve's annual economic symposium at Jackson Hole on Friday for views on when the central bank will start tapering its massive asset purchases program.\nStocks making the biggest moves premarket:\nTSMC(TSM) – Shares of Taiwan Semiconductor Manufacturing Co. rose 2.7% in premarket trading after local media reported that the world's largest contract chipmaker will raise product prices due to a global supply shortage, dealers said.\nDick’s Sporting Goods(DKS) – The sporting goods retailer’s shares jumped 11.4% in the premarket, as its quarterly earnings beat estimates. The company also announced a $5.50 per share special dividend and a 21% increase in its quarterly dividend. Dick’s earned an adjusted $5.08 per share for its latest quarter, beating the consensus estimate of $2.80.\nJohnson & Johnson(JNJ) – Johnson & Johnson said study data supports the benefits of a booster shot for recipients of its Covid-19 vaccine. The dose sharply increased levels of antibodies in two early-stage trials.\nExpress(EXPR) – Shares of the apparel retailer rallied 5.2% in the premarket after the company reported an unexpected profit for its latest quarter. Express earned 2 cents per share, compared with forecasts of a 30 cents per share loss, and revenue also came in above analyst forecasts.\nShoe Carnival(SCVL) – The shoe retailer reported a quarterly profit of $1.54 per share, more than double the 75 cent consensus estimate, with revenue also exceeding Wall Street forecasts and comparable sales rising 11.4%. Shoe Carnival gained 2.2% in the premarket.\nCassava Biosciences(SAVA) – The biotechnology company said claims posted online late yesterday challenging its scientific integrity are false and misleading. The issue revolved around study data for an Alzheimer’s disease treatment. Cassava released a statement refuting each of 15 claims that the company calls “fiction.” Cassava tumbled 22.6% in the premarket.\nUrban Outfitters(URBN) – Urban Outfitters earned $1.28 per share for its latest quarter, beating the 77 cents consensus estimate. The apparel retailer’s revenue was also above forecasts. Urban Outfitters benefited from a sizeable increase in digital sales compared with pre-pandemic levels. However, the company also mentioned that it is dealing with supply chain issues, and its shares lost 5.2% in premarket trading.\nNordstrom(JWN) – Nordstrom tumbled 11.5% in premarket trading after its quarterly report showed revenue for its latest quarter was still below pre-pandemic levels. The department store operator did beat the 27 cents estimate for its latest quarter with earnings of 49 cents per share, and revenue above forecasts. Nordstrom raised its full-year outlook as well.\nToll Brothers(TOL) – Toll Brothers reported quarterly earnings of $1.87 per share, 32 cents above the consensus estimate, with the luxury home builder’s revenue essentially in line with Wall Street forecasts. Low overall inventories in the housing market and low mortgage rates helped boost the company’s results. Toll Brothers gained 1.9% in premarket action.\nIntuit(INTU) – Intuit beat estimates by 38 cents with adjusted quarterly earnings of $1.97, while the financial software company’s revenue topped estimates. The maker of TurboTax also issued an upbeat outlook, raised its dividend and boosted its stock buyback program. The stock added 2.4% in the premarket.\nMeme Stocks – So-called “meme” stocks remain on watch after late Tuesday rallies.AMC Entertainment,Koss,Robinhood and ContextLogic all surged despite a lack of news on any of those companies. Koss rose 1.7% in the premarket, AMC jumped 2.6%,GameStop fell 1.6% and Robinhood fell 0.1%.\nCampbell Soup(CPB) – Campbell Soup was downgraded to “neutral” from “overweight” at Piper Sandler, which cited increasing commodity costs among other factors. Campbell shares slid 1.4% in premarket trading.","news_type":1,"symbols_score_info":{".SPX":0.9,"JNJ":0.9,"NQmain":0.9,"DKS":0.9,"HOOD":0.9,"SCVL":0.9,"AMC":0.9,"GME":0.9,"JWN":0.9,"TOL":0.9,"URBN":0.9,"EXPR":0.9,"ESmain":0.9,".IXIC":0.9,"SAVA":0.9,"YMmain":0.9,"TSM":0.9,"WISH":0.9,".DJI":0.9,"KOSS":0.9}},"isVote":1,"tweetType":1,"viewCount":2376,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832248547,"gmtCreate":1629644754789,"gmtModify":1631891370484,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/832248547","repostId":"1133515985","repostType":4,"isVote":1,"tweetType":1,"viewCount":2572,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832002262,"gmtCreate":1629533493056,"gmtModify":1631891370487,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/832002262","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohunote.com/m/news/1151608193?lang=zh_CN&edition=full","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares 半导体 ETF 较近期高点下跌超过 6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要大。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares 半导体 ETF 较近期高点下跌超过 6%，而标准普尔 500 指数、纳斯达克综合指数和道琼斯工业平均指数的跌幅为 2% 或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股票值得买入？或者，这个历史上具有周期性的行业是否故技重施，陷入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有股票多年，而不是租用几天，那么该集团值得购买。主要原因： “这次不一样”。</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>这些无疑是投资中最可怕的词语之一。但芯片行业已经发生了很大的变化，现在确实不同了——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我会回顾一下这些。但首先，以下是该集团现在 “更安全 ”的三个主要原因--以及我在过去几天里与六位行业专家交谈过的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>“Impax Asset Management 的投资组合经理 David Winborne 说：”受产品周期的驱动，芯片行业的需求总是时好时坏。“<a href=\"https://laohu8.com/S/FBNC\">第一</a>电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长故事更可预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益 “数字化 ”，终端市场需求从各个角度都更加多样化。把远程办公服务想象成<a href=\"https://laohu8.com/S/ZM\">缩放</a>看好该集团的 Gabelli Funds 投资组合经理兼技术分析师 Hendi Susanto 指出，网上购物、云服务、电动汽车、5G 手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>“Motley Fool 芯片行业分析师 John Rotonti 说：”现代数字经济的任何方面都离不开半导体。“这意味着所有东西都有更多的筹码。长期需求是存在的”。</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他没开玩笑。威廉·布莱尔分析师格雷格·斯科拉罗预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着，你听到的大范围供应短缺 “可能要到明年年底的某个时候才能得到解决”。<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师 Vivek Arya。“这不仅是我们的观点，而且<a href=\"https://laohu8.com/S/AONE.U\">一</a>大多数大客户都证实了这一点。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2、玩家巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上下游，从设计到各类设备生产商再到制造，行业参与者已经整合成罗通蒂-评级 “赢得 ”的双头垄断或垄断。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，你有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻 (EUV) 等专业领域占据主导地位，例如 ASML。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好，赢得了他们的利基或双寡头地位。这使得投资者对它们感兴趣。Rotonti 表示，整合还意味着参与者在定价和产能方面的行为更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所改善</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力比历史上高得多。“温伯恩说：”在过去的几年里，芯片制造的经济性有了很大的改善。现金流或 EBITDA 利润率现在通常超过 30%，而十年前则在 20% 左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere &amp; Co. 的投资组合经理拉马尔·维莱尔 (Lamar Villere) 指出，尽管芯片股票的交易市盈率约为市盈率，但它们看起来很便宜，因为它们是更好的公司。“他们并没有以泡沫倍数进行交易”。</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>要买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近核实的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新管理层玩法</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管 Thrivent 高级股票研究分析师彼得·卡拉泽里斯 (Peter Karazeris) 有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司的业绩可能会因为新管理层而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳定的盈利能力。高通最近受到德克萨斯州恶劣天气等一次性问题的打击，导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">半导体</a>正在将手机以外的领域扩展到汽车、工业和物联网等新领域——联网设备领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris 还特别提到了 Nvidia， 由于其卓越的设计能力， Nvidia 从数据中心和游戏设备芯片需求中获得了持续提振。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当高通和英伟达等公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">概要</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool 的 Rotonti 解释说，他们基于软件的设计工具可以帮助芯片创新者为他们的芯片创建蓝图，他特别指出了这些名字。“他们不是世界上增长最快的公司，但他们的利润率很高”。他们也主宰了太空。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV游戏</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图应用到硅上，台积电和三星等公司转向了ASML。它的机器使用微小的光脉冲将芯片设计模板印在硅片上，这一过程称为极紫外线光刻。“罗通蒂说：”其他人还没有想出怎么做。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应这样做的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供过于求</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多，这样它就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne 表示，希望到 2025 年生产其使用的芯片的 70%，高于目前的 5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>结果是，政府为促进制造业提供了大量支持，因此会有更多支持。风险是未来某个时候供应过剩。这也可能会推动芯片设备的采购，导致未来的平静，这可能会损害设备制造商的销售和利润率趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair 的 Scolaro 指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>干扰信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人 (PMI) 指数在 4 月份达到峰值，然后连续三个月放缓。与此同时，芯片销售持续增长。Thrivent 跟踪该指标的 Karazeris 指出，通常两者遵循相同的趋势。他将这种差异归因于库存积累，而库存积累不如真正的终端市场需求可持续。因此，他认为这种背离是芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“卡拉泽里斯说：”这些通常是在周期的顶部而不是底部看到的东西。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但也有可能全球采购经理人指数的放缓更多的是芯片短缺的反映，而不是短缺并非真实存在的迹象（只是库存积压）。“Leuthold 经济学家兼策略师吉姆-保尔森（Jim Paulsen）说：”这种分歧并不一定意味着芯片订单会翻盘消亡。这意味着芯片制造业必须迎头赶上。</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布不得不减产是因为芯片短缺，而不是潜在需求不足。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及对大件商品被压抑的需求等因素，体面的经济增长是可持续的。如果他是对的，持续的经济实力将支撑对所有使用芯片的产品的需求，包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</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\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-23 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares 半导体 ETF 较近期高点下跌超过 6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要大。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares 半导体 ETF 较近期高点下跌超过 6%，而标准普尔 500 指数、纳斯达克综合指数和道琼斯工业平均指数的跌幅为 2% 或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股票值得买入？或者，这个历史上具有周期性的行业是否故技重施，陷入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有股票多年，而不是租用几天，那么该集团值得购买。主要原因： “这次不一样”。</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>这些无疑是投资中最可怕的词语之一。但芯片行业已经发生了很大的变化，现在确实不同了——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我会回顾一下这些。但首先，以下是该集团现在 “更安全 ”的三个主要原因--以及我在过去几天里与六位行业专家交谈过的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>“Impax Asset Management 的投资组合经理 David Winborne 说：”受产品周期的驱动，芯片行业的需求总是时好时坏。“<a href=\"https://laohu8.com/S/FBNC\">第一</a>电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长故事更可预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益 “数字化 ”，终端市场需求从各个角度都更加多样化。把远程办公服务想象成<a href=\"https://laohu8.com/S/ZM\">缩放</a>看好该集团的 Gabelli Funds 投资组合经理兼技术分析师 Hendi Susanto 指出，网上购物、云服务、电动汽车、5G 手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>“Motley Fool 芯片行业分析师 John Rotonti 说：”现代数字经济的任何方面都离不开半导体。“这意味着所有东西都有更多的筹码。长期需求是存在的”。</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他没开玩笑。威廉·布莱尔分析师格雷格·斯科拉罗预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着，你听到的大范围供应短缺 “可能要到明年年底的某个时候才能得到解决”。<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师 Vivek Arya。“这不仅是我们的观点，而且<a href=\"https://laohu8.com/S/AONE.U\">一</a>大多数大客户都证实了这一点。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2、玩家巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上下游，从设计到各类设备生产商再到制造，行业参与者已经整合成罗通蒂-评级 “赢得 ”的双头垄断或垄断。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，你有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻 (EUV) 等专业领域占据主导地位，例如 ASML。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好，赢得了他们的利基或双寡头地位。这使得投资者对它们感兴趣。Rotonti 表示，整合还意味着参与者在定价和产能方面的行为更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所改善</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力比历史上高得多。“温伯恩说：”在过去的几年里，芯片制造的经济性有了很大的改善。现金流或 EBITDA 利润率现在通常超过 30%，而十年前则在 20% 左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere &amp; Co. 的投资组合经理拉马尔·维莱尔 (Lamar Villere) 指出，尽管芯片股票的交易市盈率约为市盈率，但它们看起来很便宜，因为它们是更好的公司。“他们并没有以泡沫倍数进行交易”。</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>要买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近核实的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新管理层玩法</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管 Thrivent 高级股票研究分析师彼得·卡拉泽里斯 (Peter Karazeris) 有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司的业绩可能会因为新管理层而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳定的盈利能力。高通最近受到德克萨斯州恶劣天气等一次性问题的打击，导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">半导体</a>正在将手机以外的领域扩展到汽车、工业和物联网等新领域——联网设备领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris 还特别提到了 Nvidia， 由于其卓越的设计能力， Nvidia 从数据中心和游戏设备芯片需求中获得了持续提振。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当高通和英伟达等公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">概要</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool 的 Rotonti 解释说，他们基于软件的设计工具可以帮助芯片创新者为他们的芯片创建蓝图，他特别指出了这些名字。“他们不是世界上增长最快的公司，但他们的利润率很高”。他们也主宰了太空。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV游戏</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图应用到硅上，台积电和三星等公司转向了ASML。它的机器使用微小的光脉冲将芯片设计模板印在硅片上，这一过程称为极紫外线光刻。“罗通蒂说：”其他人还没有想出怎么做。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应这样做的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供过于求</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多，这样它就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne 表示，希望到 2025 年生产其使用的芯片的 70%，高于目前的 5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>结果是，政府为促进制造业提供了大量支持，因此会有更多支持。风险是未来某个时候供应过剩。这也可能会推动芯片设备的采购，导致未来的平静，这可能会损害设备制造商的销售和利润率趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair 的 Scolaro 指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>干扰信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人 (PMI) 指数在 4 月份达到峰值，然后连续三个月放缓。与此同时，芯片销售持续增长。Thrivent 跟踪该指标的 Karazeris 指出，通常两者遵循相同的趋势。他将这种差异归因于库存积累，而库存积累不如真正的终端市场需求可持续。因此，他认为这种背离是芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“卡拉泽里斯说：”这些通常是在周期的顶部而不是底部看到的东西。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但也有可能全球采购经理人指数的放缓更多的是芯片短缺的反映，而不是短缺并非真实存在的迹象（只是库存积压）。“Leuthold 经济学家兼策略师吉姆-保尔森（Jim Paulsen）说：”这种分歧并不一定意味着芯片订单会翻盘消亡。这意味着芯片制造业必须迎头赶上。</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布不得不减产是因为芯片短缺，而不是潜在需求不足。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及对大件商品被压抑的需求等因素，体面的经济增长是可持续的。如果他是对的，持续的经济实力将支撑对所有使用芯片的产品的需求，包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","ASML":"阿斯麦","GOOGL":"谷歌A","TSM":"台积电","SSNLF":"三星电子","QCOM":"高通","SNPS":"新思科技","AAPL":"苹果","NVDA":"英伟达","SOXX":"iShares费城交易所半导体ETF","GOOG":"谷歌","ON":"安森美半导体","CDNS":"铿腾电子"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including Ford cars.","news_type":1,"symbols_score_info":{"GOOG":0.9,"GOOGL":0.9,"SNPS":0.9,"CDNS":0.9,"TSM":0.9,"ON":0.9,"SSNLF":0.9,"NVDA":0.9,"AAPL":0.9,"AMZN":0.9,"QCOM":0.9,"ASML":0.9,"SOXX":0.9}},"isVote":1,"tweetType":1,"viewCount":1762,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838096184,"gmtCreate":1629356550248,"gmtModify":1631891370491,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/838096184","repostId":"1152703663","repostType":4,"isVote":1,"tweetType":1,"viewCount":1723,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833766070,"gmtCreate":1629264521890,"gmtModify":1631891370493,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/833766070","repostId":"1114320591","repostType":4,"repost":{"id":"1114320591","kind":"news","pubTimestamp":1629255336,"share":"https://www.laohunote.com/m/news/1114320591?lang=zh_CN&edition=full","pubTime":"2021-08-18 10:55","market":"us","language":"en","title":"3 Stocks I'm Never Selling<blockquote>我从不出售的 3 只股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114320591","media":"Motley Fool","summary":"The best investors in the world swear by holding high-quality companies for decades on end. These stocks fit that bill.","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Time plus patience adds up to wealth-building results in the stock market.</li>  <li>These three business titans are leaders in their fields.</li>  <li>They are also built to last for a very long time.</li> </ul> </p><p><blockquote><ul><li>时间加上耐心会导致股票市场的财富积累。</li><li>这三位商业巨头都是各自领域的领导者。</li><li>它们也可以持续很长时间。</li></ul></blockquote></p><p> I'm about to show you my favorite stocks. Sometimes I invest with an eye to strong returns over the next few years. These are the ones that I expect to keep beating the market for the years and decades to come. It will take a lot to pry them out of my portfolio.</p><p><blockquote>我要给你看我最喜欢的股票。有时我投资时着眼于未来几年的丰厚回报。这些是我预计在未来几年和几十年里继续击败市场的产品。把它们从我的投资组合里挖出来要花很多时间。</blockquote></p><p> Let me show you why I intend to hold&nbsp;<b>Netflix</b>(NASDAQ:NFLX),<b>Alphabet</b>(NASDAQ:GOOG)(NASDAQ:GOOGL), and&nbsp;<b>Walt Disney</b>(NYSE:DIS)for the long haul. These stocks may not be slam-dunk forever holdings for every investor, but you should absolutely take a close look at these top-notch investments.</p><p><blockquote>让我告诉你为什么我打算举行<b>网飞</b>（纳斯达克股票代码：NFLX），<b>Alphabet</b>（纳斯达克股票代码：GOOG）（纳斯达克股票代码：GOOGL）以及<b>华特·迪士尼</b>（纽约证券交易所代码：DIS）从长远来看。这些股票可能不是每个投资者都能永远持有的股票，但你绝对应该仔细看看这些顶级投资。</blockquote></p><p> <b>1. Netflix</b></p><p><blockquote><b>1. 网飞</b></blockquote></p><p> First, you knew Netflix as the sender of red mail-order DVD rentals. The company introduced digital video streams as a free add-on for DVD customers in&nbsp;2007, then separated the streaming business into a separate subscription service in 2011. The Qwikster event was a big marketing mess and could certainly have been handled better, but it was absolutely the right idea in the long run.</p><p><blockquote>首先，你知道网飞是红色邮购DVD租赁的发送者。该公司于 2007 年为 DVD 客户推出了数字视频流作为免费附加组件，然后在 2011 年将流媒体业务拆分为一项独立的订阅服务。Qwikster事件是一个大的营销混乱，当然可以处理得更好，但从长远来看，这绝对是正确的想法。</blockquote></p><p> Going all-in on the all-digital streaming service allowed Netflix to roll out its paid subscription plans on a global scale, supplemented by an ambitious focus on original content. The subscriber count has skyrocketed from 26 million in the summer of 2011 to 209 million today. That fantastic trend has worked wonders for the company's top and bottom lines:</p><p><blockquote>全力投入全数字流媒体服务使 Netflix 能够在全球范围内推出付费订阅计划，并辅以对原创内容的雄心勃勃的关注。用户数量从2011年夏天的2600万飙升至今天的2.09亿。这一奇妙的趋势为公司的营收和利润创造了奇迹：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/646be4c2a73d68810e962c19efe82476\" tg-width=\"720\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><span>NFLX REVENUE (TTM) DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS 提供的 NFLX 收入 (TTM) 数据。</span></p></blockquote></p><p> Netflix saw an opportunity to lead the charge into a brand-new market, with low infrastructure costs compared to the DVD-mailing business and buckets of worldwide growth potential. So the DVD business that had come to dominate the video rental sector in America was unceremoniously tossed aside in favor of better ideas.</p><p><blockquote>Netflix 看到了将这项收费引入全新市场的机会，与 DVD 邮寄业务相比，该市场的基础设施成本低，并且具有全球增长潜力。因此，在美国视频租赁行业占据主导地位的DVD业务被毫不客气地抛弃，取而代之的是更好的想法。</blockquote></p><p> These days, Netflix is an award-winning content producer with an unmatched distribution network in every market that matters (except forChina, where the company must operate through local partnerships). The stock has delivered a 2,240% return since the Qwikster event, which works out to a compound annual growth rate (CAGR) of 35.8%.</p><p><blockquote>如今，网飞是一家屡获殊荣的内容制作商，在每个重要市场都拥有无与伦比的分销网络（中国除外，该公司必须通过当地合作伙伴关系运营）。自 Qwikster 事件以来，该股已实现 2,240% 的回报率，复合年增长率 (CAGR) 为 35.8%。</blockquote></p><p> <b>2. Alphabet</b></p><p><blockquote><b>2.Alphabet</b></blockquote></p><p> Alphabet is the parent company of online services giant Google. What started as a student project at Stanford quickly evolved into the world's leading online search tool. Paired with the moneymaking muscle of Google's digital advertising tools, the company generated strong cash flows early on. The cash profits were reinvested in more business ideas. Google eventually built or bought services with matchless market shares in important sectors such as web browsers, online video, email, and smartphone software.</p><p><blockquote>Alphabet是在线服务巨头谷歌的母公司。斯坦福大学的一个学生项目很快发展成为世界领先的在线搜索工具。再加上谷歌数字广告工具的赚钱能力，该公司很早就产生了强劲的现金流。现金利润被再投资于更多的商业想法。谷歌最终建立或购买了在网络浏览器、在线视频、电子邮件和智能手机软件等重要领域拥有无与伦比的市场份额的服务。</blockquote></p><p> By 2015, co-founders Sergey Brin and Larry Page had concluded that Google's meat-and-potatoes search and advertising businesses eventually had to fade away, overtaken by mobile alternatives and other innovations. So the company made some big changes. Google hired CFO Ruth Porat, a banking executive with decades of experience in large-scale corporate finance. Later the same year, the company changed its name to Alphabet and reorganized itself into a loose conglomerate of different operations.</p><p><blockquote>到 2015 年，联合创始人谢尔盖·布林 (Sergey Brin) 和拉里·佩奇 (Larry Page) 得出结论，谷歌的肉和土豆搜索和广告业务最终将不得不消失，取而代之的是移动替代品和其他创新。所以公司做了一些大的改变。谷歌聘请了首席财务官露丝·波拉特（Ruth Porat），她是一位拥有数十年大型企业融资经验的银行业高管。同年晚些时候，该公司更名为Alphabet，并将自己重组为一个不同业务的松散企业集团。</blockquote></p><p> Google is still the backbone of Alphabet, accounting for 99.6% of the holding company's total sales in 2020. The non-Google operations are still losing money on a regular basis, despite some progress in the fields of self-driving vehicles and fiber-optic internet connections. At the same time, the company is preparing for an uncertain future by developing a plethora of online and offline business projects with massive long-term growth prospects and equally large development risks.</p><p><blockquote>谷歌仍是Alphabet的中坚力量，2020年占控股公司总销售额的99.6%。尽管在自动驾驶汽车和光纤互联网连接领域取得了一些进展，但非谷歌业务仍在定期亏损。与此同时，公司正在开发大量具有巨大长期增长前景和同样巨大发展风险的线上和线下业务项目，为不确定的未来做准备。</blockquote></p><p> If the self-driving cars don't work out in the long run, Alphabet might find a cash machine in medical research or novel wind energy generators. We may never even have heard of the next big winner in Alphabet's sprawling portfolio. If and when Alphabet starts to make serious money from artificial intelligence tools or cancer drugs, most consumers probably won't think of that stuff as a Google business at all.</p><p><blockquote>如果自动驾驶汽车从长远来看行不通，Alphabet可能会在医学研究或新型风力发电机中找到提款机。我们可能从未听说过 Alphabet 庞大投资组合中的下一个大赢家。如果Alphabet开始从人工智能工具或癌症药物中赚大钱，大多数消费者可能根本不会认为这些东西是谷歌的业务。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb97b6814df65240bd8f0b4a0690e77e\" tg-width=\"720\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><span>GOOGL REVENUE (TTM) DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS 的GOOGL收入 (TTM) 数据。</span></p></blockquote></p><p></p><p> Alphabet continues to ride its Google heritage as far as it will go, but there is no shortage of completely unrelated operations that can take over when the browser-based search and advertising business starts to falter. Until then, the traditional search business is booming and Alphabet has rewarded investors with a 912% return in 10 years. That's an annual growth rate of 23.3%.</p><p><blockquote>Alphabet将继续继承谷歌的传统，但当基于浏览器的搜索和广告业务开始步履蹒跚时，并不缺乏完全不相关的业务可以接管。在此之前，传统搜索业务蓬勃发展，Alphabet在 10 年内回报了投资者 912%。年增长率为 23.3%。</blockquote></p><p> <b>3. Walt Disney</b></p><p><blockquote><b>3. 华特·迪士尼</b></blockquote></p><p> And then there's the near-centennial entertainment giant. The House of Mouse was founded in 1923 by two cartoon-making brothers with a vision. The company has survived a world war, several terrible recessions, 10 decades of progress in distribution and production technologies, and much more.</p><p><blockquote>然后是近百年的娱乐巨头。老鼠之家是由两个有远见的卡通制作兄弟于1923年创立的。该公司经历了世界大战、几次可怕的经济衰退、10 年的分销和生产技术进步等等。</blockquote></p><p> The leisure and entertainment conglomerate you see today is a far cry from the original business, which was a pure-play cartoon production studio. Disney World and Disneyland are cultural touchstones. The company is a leading provider of hotel and resort services, including a cruise line. I can't think of another company that has mastered the art of monetizing its intellectual property as effectively as Disney has. And that intellectual property -- characters, fictional worlds, and storylines that most Americans know by heart -- will always be the lifeblood of Disney's business.</p><p><blockquote>你今天看到的休闲和娱乐集团与最初的业务相去甚远，最初的业务是一个纯粹的卡通制作工作室。迪士尼世界和迪士尼乐园是文化的试金石。该公司是一家领先的酒店和度假村服务提供商，包括一家邮轮公司。我想不出还有哪家公司能像迪士尼那样有效地掌握知识产权货币化的艺术。这种知识产权——大多数美国人熟知的角色、虚构世界和故事情节——将永远是迪士尼业务的命脉。</blockquote></p><p> Times are tough right now, as the coronavirus pandemic closed down movie theaters, theme parks, resorts, and cruise ships around the world. So Disney took a good, hard look at the drastic changes in the entertainment industry and decided to put its full weight behind media-streaming platforms.</p><p><blockquote>现在的日子很艰难，因为冠状病毒疫情关闭了世界各地的电影院、主题公园、度假村和游轮。因此，迪士尼仔细审视了娱乐业的剧烈变化，并决定全力支持流媒体平台。</blockquote></p><p> The company has been reorganized from the top down to support Disney's streaming platforms. The Disney+, Hulu, Hotstar, and ESPN+ streaming services are poised to challenge Netflix for the global media-streaming market, adding up to 174 million subscribers in the third quarter of 2021. Disney took on some extra debt in the darkest days of the health crisis and will most likely use some of that spare cash to accelerate its streaming operations.</p><p><blockquote>该公司自上而下进行了重组，以支持迪士尼的流媒体平台。Disney+、Hulu、Hotstar 和 ESPN+ 流媒体服务有望在全球媒体流媒体市场挑战 Netflix，在 2021 年第三季度累计拥有 1.74 亿用户。迪士尼在健康危机最黑暗的日子里承担了一些额外的债务，很可能会使用部分闲置现金来加速其流媒体运营。</blockquote></p><p> The coronavirus caught Disney unprepared, but management didn't hesitate to turn on a dime. The whole behemoth is heading in a different direction now, supported by the same treasure trove of storytelling assets that took the company this far. This supremely well-managed company is also beating the market in the long run, with a 439% 10-year gain that works out to a CAGR of 13%.</p><p><blockquote>冠状病毒让迪士尼措手不及，但管理层毫不犹豫地打开了一毛钱。整个庞然大物现在正朝着不同的方向前进，得到了将公司带到今天这一步的相同的讲故事资产宝库的支持。从长远来看，这家管理非常出色的公司也跑赢了市场，10 年收益为 439%，复合年增长率为 13%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/110cd288830d0e354767349fe36259e6\" tg-width=\"2000\" tg-height=\"1333\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>The common denominator</b></p><p><blockquote><b>公分母</b></blockquote></p><p> These three companies are very different, but they still have one all-important quality in common. I'm looking for flexibility in the face of good times and bad. If your company stands ready to make drastic changes to its operating plan when the business environment around it changes, you know you have an organization that will stand the test of time.</p><p><blockquote>这三家公司截然不同，但它们仍然有一个非常重要的共同点。面对顺境和逆境，我在寻找灵活性。如果你的公司准备在周围的商业环境发生变化时对其运营计划进行彻底的改变，你就知道你有一个经得起时间考验的组织。</blockquote></p><p> Lots of&nbsp;time in the market equals wealth-building returns. That's the main lesson you can learn from the writings of Benjamin Graham and the stellar results of his star student, Warren Buffett. Building life-changing wealth does not require a couple of years of fantastic returns. All you need is generally solid gains for several decades.</p><p><blockquote>在市场上的大量时间等于积累财富的回报。这是你可以从本杰明·格雷厄姆的著作和他的明星学生沃伦·巴菲特的优异成绩中学到的主要教训。积累改变生活的财富并不需要几年的惊人回报。你所需要的通常是几十年的稳健收益。</blockquote></p><p> For example, an annual return of 10% -- in line with&nbsp;the long-term market average-- adds up to a 673% profit over 20 years. Beating the Street by a small margin makes a big difference on this long time scale. Boost your average gains to just 11%, and you'll see 806% returns over those 20 years. Larger increases bring even greater total long-haul returns. The three stocks discussed above are set up to do better than that, and their very survival in the long run is just about guaranteed by that willingness to change when market conditions require it.</p><p><blockquote>例如，10% 的年回报率（与长期市场平均水平一致）加起来 20 年后利润高达 673%。在这个长期尺度上，以微弱优势击败华尔街会产生很大的影响。将您的平均收益提高到仅 11%，您将在这 20 年内看到 806% 的回报。更大的增长会带来更大的长期总回报。上面讨论的三只股票都是为了做得更好，从长远来看，它们的生存几乎是由市场条件需要时改变的意愿所保证的。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks I'm Never Selling<blockquote>我从不出售的 3 只股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks I'm Never Selling<blockquote>我从不出售的 3 只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-08-18 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Time plus patience adds up to wealth-building results in the stock market.</li>  <li>These three business titans are leaders in their fields.</li>  <li>They are also built to last for a very long time.</li> </ul> </p><p><blockquote><ul><li>时间加上耐心会导致股票市场的财富积累。</li><li>这三位商业巨头都是各自领域的领导者。</li><li>它们也可以持续很长时间。</li></ul></blockquote></p><p> I'm about to show you my favorite stocks. Sometimes I invest with an eye to strong returns over the next few years. These are the ones that I expect to keep beating the market for the years and decades to come. It will take a lot to pry them out of my portfolio.</p><p><blockquote>我要给你看我最喜欢的股票。有时我投资时着眼于未来几年的丰厚回报。这些是我预计在未来几年和几十年里继续击败市场的产品。把它们从我的投资组合里挖出来要花很多时间。</blockquote></p><p> Let me show you why I intend to hold&nbsp;<b>Netflix</b>(NASDAQ:NFLX),<b>Alphabet</b>(NASDAQ:GOOG)(NASDAQ:GOOGL), and&nbsp;<b>Walt Disney</b>(NYSE:DIS)for the long haul. These stocks may not be slam-dunk forever holdings for every investor, but you should absolutely take a close look at these top-notch investments.</p><p><blockquote>让我告诉你为什么我打算举行<b>网飞</b>（纳斯达克股票代码：NFLX），<b>Alphabet</b>（纳斯达克股票代码：GOOG）（纳斯达克股票代码：GOOGL）以及<b>华特·迪士尼</b>（纽约证券交易所代码：DIS）从长远来看。这些股票可能不是每个投资者都能永远持有的股票，但你绝对应该仔细看看这些顶级投资。</blockquote></p><p> <b>1. Netflix</b></p><p><blockquote><b>1. 网飞</b></blockquote></p><p> First, you knew Netflix as the sender of red mail-order DVD rentals. The company introduced digital video streams as a free add-on for DVD customers in&nbsp;2007, then separated the streaming business into a separate subscription service in 2011. The Qwikster event was a big marketing mess and could certainly have been handled better, but it was absolutely the right idea in the long run.</p><p><blockquote>首先，你知道网飞是红色邮购DVD租赁的发送者。该公司于 2007 年为 DVD 客户推出了数字视频流作为免费附加组件，然后在 2011 年将流媒体业务拆分为一项独立的订阅服务。Qwikster事件是一个大的营销混乱，当然可以处理得更好，但从长远来看，这绝对是正确的想法。</blockquote></p><p> Going all-in on the all-digital streaming service allowed Netflix to roll out its paid subscription plans on a global scale, supplemented by an ambitious focus on original content. The subscriber count has skyrocketed from 26 million in the summer of 2011 to 209 million today. That fantastic trend has worked wonders for the company's top and bottom lines:</p><p><blockquote>全力投入全数字流媒体服务使 Netflix 能够在全球范围内推出付费订阅计划，并辅以对原创内容的雄心勃勃的关注。用户数量从2011年夏天的2600万飙升至今天的2.09亿。这一奇妙的趋势为公司的营收和利润创造了奇迹：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/646be4c2a73d68810e962c19efe82476\" tg-width=\"720\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><span>NFLX REVENUE (TTM) DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS 提供的 NFLX 收入 (TTM) 数据。</span></p></blockquote></p><p> Netflix saw an opportunity to lead the charge into a brand-new market, with low infrastructure costs compared to the DVD-mailing business and buckets of worldwide growth potential. So the DVD business that had come to dominate the video rental sector in America was unceremoniously tossed aside in favor of better ideas.</p><p><blockquote>Netflix 看到了将这项收费引入全新市场的机会，与 DVD 邮寄业务相比，该市场的基础设施成本低，并且具有全球增长潜力。因此，在美国视频租赁行业占据主导地位的DVD业务被毫不客气地抛弃，取而代之的是更好的想法。</blockquote></p><p> These days, Netflix is an award-winning content producer with an unmatched distribution network in every market that matters (except forChina, where the company must operate through local partnerships). The stock has delivered a 2,240% return since the Qwikster event, which works out to a compound annual growth rate (CAGR) of 35.8%.</p><p><blockquote>如今，网飞是一家屡获殊荣的内容制作商，在每个重要市场都拥有无与伦比的分销网络（中国除外，该公司必须通过当地合作伙伴关系运营）。自 Qwikster 事件以来，该股已实现 2,240% 的回报率，复合年增长率 (CAGR) 为 35.8%。</blockquote></p><p> <b>2. Alphabet</b></p><p><blockquote><b>2.Alphabet</b></blockquote></p><p> Alphabet is the parent company of online services giant Google. What started as a student project at Stanford quickly evolved into the world's leading online search tool. Paired with the moneymaking muscle of Google's digital advertising tools, the company generated strong cash flows early on. The cash profits were reinvested in more business ideas. Google eventually built or bought services with matchless market shares in important sectors such as web browsers, online video, email, and smartphone software.</p><p><blockquote>Alphabet是在线服务巨头谷歌的母公司。斯坦福大学的一个学生项目很快发展成为世界领先的在线搜索工具。再加上谷歌数字广告工具的赚钱能力，该公司很早就产生了强劲的现金流。现金利润被再投资于更多的商业想法。谷歌最终建立或购买了在网络浏览器、在线视频、电子邮件和智能手机软件等重要领域拥有无与伦比的市场份额的服务。</blockquote></p><p> By 2015, co-founders Sergey Brin and Larry Page had concluded that Google's meat-and-potatoes search and advertising businesses eventually had to fade away, overtaken by mobile alternatives and other innovations. So the company made some big changes. Google hired CFO Ruth Porat, a banking executive with decades of experience in large-scale corporate finance. Later the same year, the company changed its name to Alphabet and reorganized itself into a loose conglomerate of different operations.</p><p><blockquote>到 2015 年，联合创始人谢尔盖·布林 (Sergey Brin) 和拉里·佩奇 (Larry Page) 得出结论，谷歌的肉和土豆搜索和广告业务最终将不得不消失，取而代之的是移动替代品和其他创新。所以公司做了一些大的改变。谷歌聘请了首席财务官露丝·波拉特（Ruth Porat），她是一位拥有数十年大型企业融资经验的银行业高管。同年晚些时候，该公司更名为Alphabet，并将自己重组为一个不同业务的松散企业集团。</blockquote></p><p> Google is still the backbone of Alphabet, accounting for 99.6% of the holding company's total sales in 2020. The non-Google operations are still losing money on a regular basis, despite some progress in the fields of self-driving vehicles and fiber-optic internet connections. At the same time, the company is preparing for an uncertain future by developing a plethora of online and offline business projects with massive long-term growth prospects and equally large development risks.</p><p><blockquote>谷歌仍是Alphabet的中坚力量，2020年占控股公司总销售额的99.6%。尽管在自动驾驶汽车和光纤互联网连接领域取得了一些进展，但非谷歌业务仍在定期亏损。与此同时，公司正在开发大量具有巨大长期增长前景和同样巨大发展风险的线上和线下业务项目，为不确定的未来做准备。</blockquote></p><p> If the self-driving cars don't work out in the long run, Alphabet might find a cash machine in medical research or novel wind energy generators. We may never even have heard of the next big winner in Alphabet's sprawling portfolio. If and when Alphabet starts to make serious money from artificial intelligence tools or cancer drugs, most consumers probably won't think of that stuff as a Google business at all.</p><p><blockquote>如果自动驾驶汽车从长远来看行不通，Alphabet可能会在医学研究或新型风力发电机中找到提款机。我们可能从未听说过 Alphabet 庞大投资组合中的下一个大赢家。如果Alphabet开始从人工智能工具或癌症药物中赚大钱，大多数消费者可能根本不会认为这些东西是谷歌的业务。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb97b6814df65240bd8f0b4a0690e77e\" tg-width=\"720\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><span>GOOGL REVENUE (TTM) DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS 的GOOGL收入 (TTM) 数据。</span></p></blockquote></p><p></p><p> Alphabet continues to ride its Google heritage as far as it will go, but there is no shortage of completely unrelated operations that can take over when the browser-based search and advertising business starts to falter. Until then, the traditional search business is booming and Alphabet has rewarded investors with a 912% return in 10 years. That's an annual growth rate of 23.3%.</p><p><blockquote>Alphabet将继续继承谷歌的传统，但当基于浏览器的搜索和广告业务开始步履蹒跚时，并不缺乏完全不相关的业务可以接管。在此之前，传统搜索业务蓬勃发展，Alphabet在 10 年内回报了投资者 912%。年增长率为 23.3%。</blockquote></p><p> <b>3. Walt Disney</b></p><p><blockquote><b>3. 华特·迪士尼</b></blockquote></p><p> And then there's the near-centennial entertainment giant. The House of Mouse was founded in 1923 by two cartoon-making brothers with a vision. The company has survived a world war, several terrible recessions, 10 decades of progress in distribution and production technologies, and much more.</p><p><blockquote>然后是近百年的娱乐巨头。老鼠之家是由两个有远见的卡通制作兄弟于1923年创立的。该公司经历了世界大战、几次可怕的经济衰退、10 年的分销和生产技术进步等等。</blockquote></p><p> The leisure and entertainment conglomerate you see today is a far cry from the original business, which was a pure-play cartoon production studio. Disney World and Disneyland are cultural touchstones. The company is a leading provider of hotel and resort services, including a cruise line. I can't think of another company that has mastered the art of monetizing its intellectual property as effectively as Disney has. And that intellectual property -- characters, fictional worlds, and storylines that most Americans know by heart -- will always be the lifeblood of Disney's business.</p><p><blockquote>你今天看到的休闲和娱乐集团与最初的业务相去甚远，最初的业务是一个纯粹的卡通制作工作室。迪士尼世界和迪士尼乐园是文化的试金石。该公司是一家领先的酒店和度假村服务提供商，包括一家邮轮公司。我想不出还有哪家公司能像迪士尼那样有效地掌握知识产权货币化的艺术。这种知识产权——大多数美国人熟知的角色、虚构世界和故事情节——将永远是迪士尼业务的命脉。</blockquote></p><p> Times are tough right now, as the coronavirus pandemic closed down movie theaters, theme parks, resorts, and cruise ships around the world. So Disney took a good, hard look at the drastic changes in the entertainment industry and decided to put its full weight behind media-streaming platforms.</p><p><blockquote>现在的日子很艰难，因为冠状病毒疫情关闭了世界各地的电影院、主题公园、度假村和游轮。因此，迪士尼仔细审视了娱乐业的剧烈变化，并决定全力支持流媒体平台。</blockquote></p><p> The company has been reorganized from the top down to support Disney's streaming platforms. The Disney+, Hulu, Hotstar, and ESPN+ streaming services are poised to challenge Netflix for the global media-streaming market, adding up to 174 million subscribers in the third quarter of 2021. Disney took on some extra debt in the darkest days of the health crisis and will most likely use some of that spare cash to accelerate its streaming operations.</p><p><blockquote>该公司自上而下进行了重组，以支持迪士尼的流媒体平台。Disney+、Hulu、Hotstar 和 ESPN+ 流媒体服务有望在全球媒体流媒体市场挑战 Netflix，在 2021 年第三季度累计拥有 1.74 亿用户。迪士尼在健康危机最黑暗的日子里承担了一些额外的债务，很可能会使用部分闲置现金来加速其流媒体运营。</blockquote></p><p> The coronavirus caught Disney unprepared, but management didn't hesitate to turn on a dime. The whole behemoth is heading in a different direction now, supported by the same treasure trove of storytelling assets that took the company this far. This supremely well-managed company is also beating the market in the long run, with a 439% 10-year gain that works out to a CAGR of 13%.</p><p><blockquote>冠状病毒让迪士尼措手不及，但管理层毫不犹豫地打开了一毛钱。整个庞然大物现在正朝着不同的方向前进，得到了将公司带到今天这一步的相同的讲故事资产宝库的支持。从长远来看，这家管理非常出色的公司也跑赢了市场，10 年收益为 439%，复合年增长率为 13%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/110cd288830d0e354767349fe36259e6\" tg-width=\"2000\" tg-height=\"1333\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>The common denominator</b></p><p><blockquote><b>公分母</b></blockquote></p><p> These three companies are very different, but they still have one all-important quality in common. I'm looking for flexibility in the face of good times and bad. If your company stands ready to make drastic changes to its operating plan when the business environment around it changes, you know you have an organization that will stand the test of time.</p><p><blockquote>这三家公司截然不同，但它们仍然有一个非常重要的共同点。面对顺境和逆境，我在寻找灵活性。如果你的公司准备在周围的商业环境发生变化时对其运营计划进行彻底的改变，你就知道你有一个经得起时间考验的组织。</blockquote></p><p> Lots of&nbsp;time in the market equals wealth-building returns. That's the main lesson you can learn from the writings of Benjamin Graham and the stellar results of his star student, Warren Buffett. Building life-changing wealth does not require a couple of years of fantastic returns. All you need is generally solid gains for several decades.</p><p><blockquote>在市场上的大量时间等于积累财富的回报。这是你可以从本杰明·格雷厄姆的著作和他的明星学生沃伦·巴菲特的优异成绩中学到的主要教训。积累改变生活的财富并不需要几年的惊人回报。你所需要的通常是几十年的稳健收益。</blockquote></p><p> For example, an annual return of 10% -- in line with&nbsp;the long-term market average-- adds up to a 673% profit over 20 years. Beating the Street by a small margin makes a big difference on this long time scale. Boost your average gains to just 11%, and you'll see 806% returns over those 20 years. Larger increases bring even greater total long-haul returns. The three stocks discussed above are set up to do better than that, and their very survival in the long run is just about guaranteed by that willingness to change when market conditions require it.</p><p><blockquote>例如，10% 的年回报率（与长期市场平均水平一致）加起来 20 年后利润高达 673%。在这个长期尺度上，以微弱优势击败华尔街会产生很大的影响。将您的平均收益提高到仅 11%，您将在这 20 年内看到 806% 的回报。更大的增长会带来更大的长期总回报。上面讨论的三只股票都是为了做得更好，从长远来看，它们的生存几乎是由市场条件需要时改变的意愿所保证的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/08/17/3-stocks-im-never-selling/\">Motley 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":{"DIS":"迪士尼","GOOGL":"谷歌A","NFLX":"奈飞","GOOG":"谷歌"},"source_url":"https://www.fool.com/investing/2021/08/17/3-stocks-im-never-selling/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114320591","content_text":"Key Points\n\nTime plus patience adds up to wealth-building results in the stock market.\nThese three business titans are leaders in their fields.\nThey are also built to last for a very long time.\n\n\nI'm about to show you my favorite stocks. Sometimes I invest with an eye to strong returns over the next few years. These are the ones that I expect to keep beating the market for the years and decades to come. It will take a lot to pry them out of my portfolio.\nLet me show you why I intend to hold Netflix(NASDAQ:NFLX),Alphabet(NASDAQ:GOOG)(NASDAQ:GOOGL), and Walt Disney(NYSE:DIS)for the long haul. These stocks may not be slam-dunk forever holdings for every investor, but you should absolutely take a close look at these top-notch investments.\n1. Netflix\nFirst, you knew Netflix as the sender of red mail-order DVD rentals. The company introduced digital video streams as a free add-on for DVD customers in 2007, then separated the streaming business into a separate subscription service in 2011. The Qwikster event was a big marketing mess and could certainly have been handled better, but it was absolutely the right idea in the long run.\nGoing all-in on the all-digital streaming service allowed Netflix to roll out its paid subscription plans on a global scale, supplemented by an ambitious focus on original content. The subscriber count has skyrocketed from 26 million in the summer of 2011 to 209 million today. That fantastic trend has worked wonders for the company's top and bottom lines:\nNFLX REVENUE (TTM) DATA BY YCHARTS.\nNetflix saw an opportunity to lead the charge into a brand-new market, with low infrastructure costs compared to the DVD-mailing business and buckets of worldwide growth potential. So the DVD business that had come to dominate the video rental sector in America was unceremoniously tossed aside in favor of better ideas.\nThese days, Netflix is an award-winning content producer with an unmatched distribution network in every market that matters (except forChina, where the company must operate through local partnerships). The stock has delivered a 2,240% return since the Qwikster event, which works out to a compound annual growth rate (CAGR) of 35.8%.\n2. Alphabet\nAlphabet is the parent company of online services giant Google. What started as a student project at Stanford quickly evolved into the world's leading online search tool. Paired with the moneymaking muscle of Google's digital advertising tools, the company generated strong cash flows early on. The cash profits were reinvested in more business ideas. Google eventually built or bought services with matchless market shares in important sectors such as web browsers, online video, email, and smartphone software.\nBy 2015, co-founders Sergey Brin and Larry Page had concluded that Google's meat-and-potatoes search and advertising businesses eventually had to fade away, overtaken by mobile alternatives and other innovations. So the company made some big changes. Google hired CFO Ruth Porat, a banking executive with decades of experience in large-scale corporate finance. Later the same year, the company changed its name to Alphabet and reorganized itself into a loose conglomerate of different operations.\nGoogle is still the backbone of Alphabet, accounting for 99.6% of the holding company's total sales in 2020. The non-Google operations are still losing money on a regular basis, despite some progress in the fields of self-driving vehicles and fiber-optic internet connections. At the same time, the company is preparing for an uncertain future by developing a plethora of online and offline business projects with massive long-term growth prospects and equally large development risks.\nIf the self-driving cars don't work out in the long run, Alphabet might find a cash machine in medical research or novel wind energy generators. We may never even have heard of the next big winner in Alphabet's sprawling portfolio. If and when Alphabet starts to make serious money from artificial intelligence tools or cancer drugs, most consumers probably won't think of that stuff as a Google business at all.\nGOOGL REVENUE (TTM) DATA BY YCHARTS.\nAlphabet continues to ride its Google heritage as far as it will go, but there is no shortage of completely unrelated operations that can take over when the browser-based search and advertising business starts to falter. Until then, the traditional search business is booming and Alphabet has rewarded investors with a 912% return in 10 years. That's an annual growth rate of 23.3%.\n3. Walt Disney\nAnd then there's the near-centennial entertainment giant. The House of Mouse was founded in 1923 by two cartoon-making brothers with a vision. The company has survived a world war, several terrible recessions, 10 decades of progress in distribution and production technologies, and much more.\nThe leisure and entertainment conglomerate you see today is a far cry from the original business, which was a pure-play cartoon production studio. Disney World and Disneyland are cultural touchstones. The company is a leading provider of hotel and resort services, including a cruise line. I can't think of another company that has mastered the art of monetizing its intellectual property as effectively as Disney has. And that intellectual property -- characters, fictional worlds, and storylines that most Americans know by heart -- will always be the lifeblood of Disney's business.\nTimes are tough right now, as the coronavirus pandemic closed down movie theaters, theme parks, resorts, and cruise ships around the world. So Disney took a good, hard look at the drastic changes in the entertainment industry and decided to put its full weight behind media-streaming platforms.\nThe company has been reorganized from the top down to support Disney's streaming platforms. The Disney+, Hulu, Hotstar, and ESPN+ streaming services are poised to challenge Netflix for the global media-streaming market, adding up to 174 million subscribers in the third quarter of 2021. Disney took on some extra debt in the darkest days of the health crisis and will most likely use some of that spare cash to accelerate its streaming operations.\nThe coronavirus caught Disney unprepared, but management didn't hesitate to turn on a dime. The whole behemoth is heading in a different direction now, supported by the same treasure trove of storytelling assets that took the company this far. This supremely well-managed company is also beating the market in the long run, with a 439% 10-year gain that works out to a CAGR of 13%.\nIMAGE SOURCE: GETTY IMAGES.\nThe common denominator\nThese three companies are very different, but they still have one all-important quality in common. I'm looking for flexibility in the face of good times and bad. If your company stands ready to make drastic changes to its operating plan when the business environment around it changes, you know you have an organization that will stand the test of time.\nLots of time in the market equals wealth-building returns. That's the main lesson you can learn from the writings of Benjamin Graham and the stellar results of his star student, Warren Buffett. Building life-changing wealth does not require a couple of years of fantastic returns. All you need is generally solid gains for several decades.\nFor example, an annual return of 10% -- in line with the long-term market average-- adds up to a 673% profit over 20 years. Beating the Street by a small margin makes a big difference on this long time scale. Boost your average gains to just 11%, and you'll see 806% returns over those 20 years. Larger increases bring even greater total long-haul returns. The three stocks discussed above are set up to do better than that, and their very survival in the long run is just about guaranteed by that willingness to change when market conditions require it.","news_type":1,"symbols_score_info":{"NFLX":0.9,"GOOGL":0.9,"DIS":0.9,"GOOG":0.9}},"isVote":1,"tweetType":1,"viewCount":3093,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839323442,"gmtCreate":1629123016086,"gmtModify":1631891370496,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/839323442","repostId":"2159248377","repostType":4,"isVote":1,"tweetType":1,"viewCount":2251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894031958,"gmtCreate":1628777074874,"gmtModify":1631891370500,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool&nbsp;","listText":"Cool&nbsp;","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/894031958","repostId":"2158325931","repostType":4,"repost":{"id":"2158325931","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628776169,"share":"https://www.laohunote.com/m/news/2158325931?lang=zh_CN&edition=full","pubTime":"2021-08-12 21:49","market":"us","language":"en","title":"BioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech 和 Moderna 因 FDA 可能批准加强剂的报道而获益</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2158325931","media":"Tiger Newspress","summary":"BioNTech and Moderna stock rose in early trading on Thursday, on track to recover some of the previo","content":"<p>BioNTech&nbsp;and Moderna&nbsp;stock rose in&nbsp;early&nbsp;trading&nbsp;on Thursday, on track to recover some of the previous session’s losses, following a report in the Wall Street Journal that the FDA could authorize Covid-19 booster shots for immunocompromised people.</p><p><blockquote>BioNTech 和 Moderna 的股票在周四早盘交易中上涨，有望收复前一交易日的部分失地，此前《华尔街日报》报道称，美国食品和药物管理局可能会授权为免疫功能低下的人注射 Covid-19 加强针。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2860e1c0dcbf5f35624516c9d0ff29db\" tg-width=\"895\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> BioNTech and Moderna were up 3.96% and 2% after plunging 14% and 15.6% in the previous session, respectively. Pfizer (NYSE:PFE), which shed 4% on Wednesday, was up 1%.</p><p><blockquote>BioNTech 和 Moderna 在前一交易日分别暴跌 14% 和 15.6% 后，分别上涨 3.96% 和 2%。辉瑞公司（纽约证券交易所股票代码：PFE）周三下跌 4%，上涨 1%。</blockquote></p><p> The WSJ reported that the Food and Drug Administration is nearing a decision to authorize booster shots for people with weak immunity amid a surge in new COVID cases because of the rapid spread of the delta variant.</p><p><blockquote>《华尔街日报》报道称，由于德尔塔变异毒株病毒的快速传播，新的COVID病例激增，美国食品和药物管理局即将决定授权免疫力低下的人注射加强针。</blockquote></p><p> There is growing evidence that two shots of the vaccines are inadequate for people with low immunity. Vaccine makers plan to approach the FDA this month or next for approval to their booster shots.</p><p><blockquote>越来越多的证据表明，两针疫苗对免疫力低下的人来说是不够的。疫苗制造商计划在本月或下个月向 FDA 申请批准他们的加强注射。</blockquote></p><p> BioNTech, Moderna and Pfizer all closed lower Wednesday following news that Europe’s drug regulator is studying three new conditions reported by a small number of people after getting Covid-19 shots to assess if they may be possible side-effects.</p><p><blockquote>BioNTech、Moderna 和辉瑞公司周三均收低，此前有消息称，欧洲药品监管机构正在研究少数人在注射 Covid-19 后报告的三种新情况，以评估它们是否可能是副作用。</blockquote></p><p> The conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer.</p><p><blockquote>据报道，接种 Moderna 或 BioNTech-Pfizer 生产的 mRNA 疫苗的患者出现了这些情况。</blockquote></p><p> Pfizer and BioNTech are collaborating on the research and marketing of their COVID-19 vaccine. Expenses and profit from the vaccine are split equally between Pfizer and BioNTech.</p><p><blockquote>辉瑞和BioNTech正在合作研究和营销他们的新冠肺炎疫苗。疫苗的费用和利润由辉瑞和 BioNTech 平分。</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>BioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech 和 Moderna 因 FDA 可能批准加强剂的报道而获益</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\">\nBioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech 和 Moderna 因 FDA 可能批准加强剂的报道而获益</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-12 21:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>BioNTech&nbsp;and Moderna&nbsp;stock rose in&nbsp;early&nbsp;trading&nbsp;on Thursday, on track to recover some of the previous session’s losses, following a report in the Wall Street Journal that the FDA could authorize Covid-19 booster shots for immunocompromised people.</p><p><blockquote>BioNTech 和 Moderna 的股票在周四早盘交易中上涨，有望收复前一交易日的部分失地，此前《华尔街日报》报道称，美国食品和药物管理局可能会授权为免疫功能低下的人注射 Covid-19 加强针。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2860e1c0dcbf5f35624516c9d0ff29db\" tg-width=\"895\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> BioNTech and Moderna were up 3.96% and 2% after plunging 14% and 15.6% in the previous session, respectively. Pfizer (NYSE:PFE), which shed 4% on Wednesday, was up 1%.</p><p><blockquote>BioNTech 和 Moderna 在前一交易日分别暴跌 14% 和 15.6% 后，分别上涨 3.96% 和 2%。辉瑞公司（纽约证券交易所股票代码：PFE）周三下跌 4%，上涨 1%。</blockquote></p><p> The WSJ reported that the Food and Drug Administration is nearing a decision to authorize booster shots for people with weak immunity amid a surge in new COVID cases because of the rapid spread of the delta variant.</p><p><blockquote>《华尔街日报》报道称，由于德尔塔变异毒株病毒的快速传播，新的COVID病例激增，美国食品和药物管理局即将决定授权免疫力低下的人注射加强针。</blockquote></p><p> There is growing evidence that two shots of the vaccines are inadequate for people with low immunity. Vaccine makers plan to approach the FDA this month or next for approval to their booster shots.</p><p><blockquote>越来越多的证据表明，两针疫苗对免疫力低下的人来说是不够的。疫苗制造商计划在本月或下个月向 FDA 申请批准他们的加强注射。</blockquote></p><p> BioNTech, Moderna and Pfizer all closed lower Wednesday following news that Europe’s drug regulator is studying three new conditions reported by a small number of people after getting Covid-19 shots to assess if they may be possible side-effects.</p><p><blockquote>BioNTech、Moderna 和辉瑞公司周三均收低，此前有消息称，欧洲药品监管机构正在研究少数人在注射 Covid-19 后报告的三种新情况，以评估它们是否可能是副作用。</blockquote></p><p> The conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer.</p><p><blockquote>据报道，接种 Moderna 或 BioNTech-Pfizer 生产的 mRNA 疫苗的患者出现了这些情况。</blockquote></p><p> Pfizer and BioNTech are collaborating on the research and marketing of their COVID-19 vaccine. Expenses and profit from the vaccine are split equally between Pfizer and BioNTech.</p><p><blockquote>辉瑞和BioNTech正在合作研究和营销他们的新冠肺炎疫苗。疫苗的费用和利润由辉瑞和 BioNTech 平分。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BNTX":"BioNTech SE","MRNA":"Moderna, Inc.","PFE":"辉瑞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158325931","content_text":"BioNTech and Moderna stock rose in early trading on Thursday, on track to recover some of the previous session’s losses, following a report in the Wall Street Journal that the FDA could authorize Covid-19 booster shots for immunocompromised people.\n\nBioNTech and Moderna were up 3.96% and 2% after plunging 14% and 15.6% in the previous session, respectively. Pfizer (NYSE:PFE), which shed 4% on Wednesday, was up 1%.\nThe WSJ reported that the Food and Drug Administration is nearing a decision to authorize booster shots for people with weak immunity amid a surge in new COVID cases because of the rapid spread of the delta variant.\nThere is growing evidence that two shots of the vaccines are inadequate for people with low immunity. Vaccine makers plan to approach the FDA this month or next for approval to their booster shots.\nBioNTech, Moderna and Pfizer all closed lower Wednesday following news that Europe’s drug regulator is studying three new conditions reported by a small number of people after getting Covid-19 shots to assess if they may be possible side-effects.\nThe conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer.\nPfizer and BioNTech are collaborating on the research and marketing of their COVID-19 vaccine. Expenses and profit from the vaccine are split equally between Pfizer and BioNTech.","news_type":1,"symbols_score_info":{"PFE":0.9,"BNTX":0.9,"MRNA":0.9}},"isVote":1,"tweetType":1,"viewCount":2514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898782470,"gmtCreate":1628522259990,"gmtModify":1631891370500,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/898782470","repostId":"1128238834","repostType":4,"repost":{"id":"1128238834","kind":"news","pubTimestamp":1628521549,"share":"https://www.laohunote.com/m/news/1128238834?lang=zh_CN&edition=full","pubTime":"2021-08-09 23:05","market":"us","language":"en","title":"Investment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬 - 消息来源</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128238834","media":"Reuters","summary":"Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for it","content":"<p>Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for its bankers, a source close to the matter said on Monday, mirroring a pay-scale trend by other Wall Street lenders.</p><p><blockquote>路透 8 月 9 日 - 一位知情人士周一表示，投资银行杰富瑞金融集团 (Jefferies Financial Group Inc) 已显着提高其银行家的薪资，这与其他华尔街银行的薪资趋势如出一辙。</blockquote></p><p> The bank’s first-year analysts in the United States will now earn $110,000 annually, up from $85,000. Second-year analysts will make $125,000 per year, up from $90,000, said the source, who was not authorized to speak publicly on the matter and asked for anonymity.</p><p><blockquote>该银行在美国的第一年分析师现在的年薪将从 8.5 万美元增加到 11 万美元。这位无权公开谈论此事并要求匿名的消息人士称，第二年分析师的年薪将从 9 万美元增加到 12.5 万美元。</blockquote></p><p> Salaries of associates were raised to $150,000 from $125,000, the source added.</p><p><blockquote>消息人士补充说，员工的工资从 125,000 美元提高到 150,000 美元。</blockquote></p><p> The new pay scale, which was reported earlier in the day by the Wall Street Journal, has been in effect since July 1 and follows similar moves by major Wall Street firms to attract and retain top talent as dealmaking activity continues at an unprecedented pace.</p><p><blockquote>《华尔街日报》当天早些时候报道的新薪酬等级自 7 月 1 日起生效，此前华尔街主要公司也采取了类似举措，以吸引和留住顶尖人才，因为交易活动继续以前所未有的速度进行。</blockquote></p><p> Banks have also been introducing incentives to younger staff after a group of first-year analysts at Goldman Sachs Group Inc complained of long hours and “unrealistic deadlines” in an internal survey in March.</p><p><blockquote>在高盛集团（Goldman Sachs Group Inc.）的一组第一年分析师在 3 月份的一次内部调查中抱怨工作时间过长和 “不切实际的截止日期”之后，银行也开始对年轻员工实行激励措施。</blockquote></p><p> Citigroup Inc, Morgan Stanley, UBS Group AG , and Lazard Ltd have also raised pay for their bankers.</p><p><blockquote>花旗集团、摩根士丹利、瑞银集团和拉扎德有限公司也提高了银行家的薪酬。</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>Investment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬 - 消息来源</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\">\nInvestment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬 - 消息来源</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-08-09 23:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for its bankers, a source close to the matter said on Monday, mirroring a pay-scale trend by other Wall Street lenders.</p><p><blockquote>路透 8 月 9 日 - 一位知情人士周一表示，投资银行杰富瑞金融集团 (Jefferies Financial Group Inc) 已显着提高其银行家的薪资，这与其他华尔街银行的薪资趋势如出一辙。</blockquote></p><p> The bank’s first-year analysts in the United States will now earn $110,000 annually, up from $85,000. Second-year analysts will make $125,000 per year, up from $90,000, said the source, who was not authorized to speak publicly on the matter and asked for anonymity.</p><p><blockquote>该银行在美国的第一年分析师现在的年薪将从 8.5 万美元增加到 11 万美元。这位无权公开谈论此事并要求匿名的消息人士称，第二年分析师的年薪将从 9 万美元增加到 12.5 万美元。</blockquote></p><p> Salaries of associates were raised to $150,000 from $125,000, the source added.</p><p><blockquote>消息人士补充说，员工的工资从 125,000 美元提高到 150,000 美元。</blockquote></p><p> The new pay scale, which was reported earlier in the day by the Wall Street Journal, has been in effect since July 1 and follows similar moves by major Wall Street firms to attract and retain top talent as dealmaking activity continues at an unprecedented pace.</p><p><blockquote>《华尔街日报》当天早些时候报道的新薪酬等级自 7 月 1 日起生效，此前华尔街主要公司也采取了类似举措，以吸引和留住顶尖人才，因为交易活动继续以前所未有的速度进行。</blockquote></p><p> Banks have also been introducing incentives to younger staff after a group of first-year analysts at Goldman Sachs Group Inc complained of long hours and “unrealistic deadlines” in an internal survey in March.</p><p><blockquote>在高盛集团（Goldman Sachs Group Inc.）的一组第一年分析师在 3 月份的一次内部调查中抱怨工作时间过长和 “不切实际的截止日期”之后，银行也开始对年轻员工实行激励措施。</blockquote></p><p> Citigroup Inc, Morgan Stanley, UBS Group AG , and Lazard Ltd have also raised pay for their bankers.</p><p><blockquote>花旗集团、摩根士丹利、瑞银集团和拉扎德有限公司也提高了银行家的薪酬。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/jefferies-analyst-compensation/investment-bank-jefferies-raises-pay-for-analysts-source-idUSL4N2PG2U4\">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":{"GS":"高盛"},"source_url":"https://www.reuters.com/article/jefferies-analyst-compensation/investment-bank-jefferies-raises-pay-for-analysts-source-idUSL4N2PG2U4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128238834","content_text":"Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for its bankers, a source close to the matter said on Monday, mirroring a pay-scale trend by other Wall Street lenders.\nThe bank’s first-year analysts in the United States will now earn $110,000 annually, up from $85,000. Second-year analysts will make $125,000 per year, up from $90,000, said the source, who was not authorized to speak publicly on the matter and asked for anonymity.\nSalaries of associates were raised to $150,000 from $125,000, the source added.\nThe new pay scale, which was reported earlier in the day by the Wall Street Journal, has been in effect since July 1 and follows similar moves by major Wall Street firms to attract and retain top talent as dealmaking activity continues at an unprecedented pace.\nBanks have also been introducing incentives to younger staff after a group of first-year analysts at Goldman Sachs Group Inc complained of long hours and “unrealistic deadlines” in an internal survey in March.\nCitigroup Inc, Morgan Stanley, UBS Group AG , and Lazard Ltd have also raised pay for their bankers.","news_type":1,"symbols_score_info":{"GS":0.9}},"isVote":1,"tweetType":1,"viewCount":3371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891480104,"gmtCreate":1628410995108,"gmtModify":1631891370505,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/891480104","repostId":"1180529438","repostType":4,"repost":{"id":"1180529438","kind":"news","pubTimestamp":1628386129,"share":"https://www.laohunote.com/m/news/1180529438?lang=zh_CN&edition=full","pubTime":"2021-08-08 09:28","market":"us","language":"en","title":"SEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC 提起首例 DeFi 未注册证券诉讼</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180529438","media":"Benzinga","summary":"The United States Securities and Exchange Commission  sued the organization responsible for the development of a decentralized finance  protocol over activities involved with the project for the first time.What Happened: According to a Friday SEC announcement, the agency has sued Cayman Islands-based Blockchain Credit Partners and two of its top executives over allegedly selling unregistered securities through its DeFi Money Market platform from February 2020 to February 2021. The firm purported","content":"<p><div> The United States Securities and Exchange Commission (SEC) sued the organization responsible for the development of a decentralized finance (DeFi) protocol over activities involved with the project ...</p><p><blockquote><div>美国证券交易委员会（SEC）就该项目涉及的活动起诉了负责开发去中心化金融（DeFi）协议的组织……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC 提起首例 DeFi 未注册证券诉讼</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\">\nSEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC 提起首例 DeFi 未注册证券诉讼</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-08 09:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The United States Securities and Exchange Commission (SEC) sued the organization responsible for the development of a decentralized finance (DeFi) protocol over activities involved with the project ...</p><p><blockquote><div>美国证券交易委员会（SEC）就该项目涉及的活动起诉了负责开发去中心化金融（DeFi）协议的组织……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180529438","content_text":"The United States Securities and Exchange Commission (SEC) sued the organization responsible for the development of a decentralized finance (DeFi) protocol over activities involved with the project for the first time.\nWhat Happened: According to a Friday SEC announcement, the agency has sued Cayman Islands-based Blockchain Credit Partners and two of its top executives over allegedly selling unregistered securities through its DeFi Money Market platform from February 2020 to February 2021. The firm purportedly sold over $30 million worth of two types of tokens that the SEC deemed to be securities that should have been registered as such.\nThe SEC notes that Blockchain Credit Partners founders Gregory Keough and Derek Acree will have to pay fines of $125,000 while the company itself also agreed to pay $12.8 million in disgorgement. The settlement does not indicate an admition or denial the accusations.\nNew Game, Old Rules?\nSEC Enforcement Director Gurbir Grewal explained that \"full and honest disclosure remains the cornerstone of our securities laws — no matter what technologies are used to offer and sell those securities.\" This comment makes it very clear that slapping the DeFi label on a project and hoping to avoid regulation this way works no better than calling it a \"utility token\" prevented falling under the SEC's scrutiny during 2017's initial coin offering craze.\nThe SEC is trying to send the clear rule that the new kind of financial organizations that operate on blockchains have to still play by the old rules that govern traditional finance. At the same time, market onlookers are not sure if the regulator is actually right.\nIn a way, it is a tour de force where the regulator wins every time it has a way to take enforcement action, but these new organizations potentially have a very real way to make enforcement impossible — or at the very least impractical. The only protection against enforcement by the SEC and other regulators is decentralization and the only reason why the SEC was able to act in this case is that a centralized organization such as Blockchain Credit Partners exists.\nWhat's Next:If no company exists and all that there is to a DeFi protocol is a set of smart contracts deployed on a blockchain by a group of anonymous developers scattered around the world there is very little that the SEC can do short of attacking the blockchain itself. This is where the decentralization of the underlying blockchain comes into play: will the regulators for instance be able to force Ethereum's (CRYPTO: ETH) core development team to write an update stopping such a project?\nIf the regulators would actually be able to force the blockchain's developers to write such an update, would node operators and miners or stakers adopt this software or would they refuse to? Such situations will be the real test of the decentralization and reliability of any blockchain that many are waiting to happen. Regulators are seeing power slipping away between their fingers like sand, and they are going to try to grab it.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":2227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890921522,"gmtCreate":1628078135866,"gmtModify":1633753830670,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/890921522","repostId":"1187165636","repostType":4,"isVote":1,"tweetType":1,"viewCount":824,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804972929,"gmtCreate":1627918765861,"gmtModify":1633755248406,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/804972929","repostId":"1191539307","repostType":4,"isVote":1,"tweetType":1,"viewCount":1062,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802714050,"gmtCreate":1627806840870,"gmtModify":1633756208997,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/802714050","repostId":"1147877145","repostType":4,"isVote":1,"tweetType":1,"viewCount":918,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175479052,"gmtCreate":1627047975076,"gmtModify":1633768466979,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175479052","repostId":"1164478982","repostType":4,"isVote":1,"tweetType":1,"viewCount":793,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172870524,"gmtCreate":1626955490668,"gmtModify":1633769429389,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172870524","repostId":"2153477496","repostType":4,"isVote":1,"tweetType":1,"viewCount":938,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179760786,"gmtCreate":1626577765645,"gmtModify":1633925730084,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179760786","repostId":"1183956332","repostType":4,"isVote":1,"tweetType":1,"viewCount":1051,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147257056,"gmtCreate":1626360884875,"gmtModify":1633927485368,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/147257056","repostId":"1155093230","repostType":4,"isVote":1,"tweetType":1,"viewCount":598,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147254131,"gmtCreate":1626360850023,"gmtModify":1633927485834,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/147254131","repostId":"1165217903","repostType":4,"repost":{"id":"1165217903","kind":"news","pubTimestamp":1626357982,"share":"https://www.laohunote.com/m/news/1165217903?lang=zh_CN&edition=full","pubTime":"2021-07-15 22:06","market":"us","language":"en","title":"JPMorgan Strategist Warns of Dot-Com Era ‘Bull Trap’ in Ark Fund<blockquote>摩根大通策略师警告方舟基金存在互联网时代的“牛市陷阱”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165217903","media":"Bloomberg","summary":"(Bloomberg) -- Cathie Wood’s flagship ETF is showing many of the bubble-like traits seen in growth-b","content":"<p><div> (Bloomberg) -- Cathie Wood’s flagship ETF is showing many of the bubble-like traits seen in growth-based funds in 2000 and investors should consider betting against it with options, according to ...</p><p><blockquote><div>(彭博社）--据报道，凯西-伍德（Cathie Wood）的旗舰ETF显示出2000年成长型基金中出现的许多类似泡沫的特征，投资者应考虑用期权做空它。</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/jpmorgan-strategist-warns-dot-com-130235186.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/jpmorgan-strategist-warns-dot-com-130235186.html\">网页连接</a></blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan Strategist Warns of Dot-Com Era ‘Bull Trap’ in Ark Fund<blockquote>摩根大通策略师警告方舟基金存在互联网时代的“牛市陷阱”</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; 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#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\">\nJPMorgan Strategist Warns of Dot-Com Era ‘Bull Trap’ in Ark Fund<blockquote>摩根大通策略师警告方舟基金存在互联网时代的“牛市陷阱”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-07-15 22:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> (Bloomberg) -- Cathie Wood’s flagship ETF is showing many of the bubble-like traits seen in growth-based funds in 2000 and investors should consider betting against it with options, according to ...</p><p><blockquote><div>(彭博社）--据报道，凯西-伍德（Cathie Wood）的旗舰ETF显示出2000年成长型基金中出现的许多类似泡沫的特征，投资者应考虑用期权做空它。</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/jpmorgan-strategist-warns-dot-com-130235186.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/jpmorgan-strategist-warns-dot-com-130235186.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/jpmorgan-strategist-warns-dot-com-130235186.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/jpmorgan-strategist-warns-dot-com-130235186.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165217903","content_text":"(Bloomberg) -- Cathie Wood’s flagship ETF is showing many of the bubble-like traits seen in growth-based funds in 2000 and investors should consider betting against it with options, according to JPMorgan Chase & Co.’s Shawn Quigg.\nThe derivatives strategist reckons a second-half increase in Treasury yields could trigger declines for the ARK Innovation exchange-traded fund (ticker ARKK), which is up about 19% since mid-May.\n“Enter the bull trap reversal,” Quigg wrote in a Thursday note to clients. “A looming rise in yields could be a catalyst to accelerate ARKK shares lower, in addition to the continued outperformance of large staple-tech stocks over disruptive-tech stocks, and pressing ARKK into the capitulation phase.”\nThe 10-year U.S. Treasury yield has fallen more than 40 basis points to about 1.32% from a recent peak at the end of March, helping spur the rebound for ARKK. Quigg argues that’s a technical move, set to be undone as the reopening trade reasserts itself in the rest of the year.\nWood’s Ark Investment Management enjoyed a stellar start to 2021 propelled by gains in sectors such as electric vehicles, biotech and cryptocurrencies, as well as advances in stocks that benefited from the stay-at-home trade. But many of those themes faltered, and the firm’s main ETF fell more than 35% from mid-February through mid-May.\nJPMorgan expects cyclical and value assets to outperform amid the ongoing recovery and reopening from the pandemic. Value stocks just had their worst month versus growth counterparts in two decades, but the firm’s strategists see that as a pause in a rally that’s set to resume.\nQuigg recommends investors buy ARKK October $105 puts -- the strike price about 11% below the ETF’s closing level on Wednesday -- to take advantage of implied volatility that remains low even amid “the potential for shares to enter a broader capitulation phase,” he wrote.","news_type":1,"symbols_score_info":{".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144608795,"gmtCreate":1626277589717,"gmtModify":1633928306491,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"555","listText":"555","text":"555","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144608795","repostId":"1181513394","repostType":4,"isVote":1,"tweetType":1,"viewCount":681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142841867,"gmtCreate":1626142794259,"gmtModify":1633929696384,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/142841867","repostId":"1109319866","repostType":4,"isVote":1,"tweetType":1,"viewCount":878,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":832248547,"gmtCreate":1629644754789,"gmtModify":1631891370484,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/832248547","repostId":"1133515985","repostType":4,"isVote":1,"tweetType":1,"viewCount":2572,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838096184,"gmtCreate":1629356550248,"gmtModify":1631891370491,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/838096184","repostId":"1152703663","repostType":4,"isVote":1,"tweetType":1,"viewCount":1723,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175479052,"gmtCreate":1627047975076,"gmtModify":1633768466979,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175479052","repostId":"1164478982","repostType":4,"isVote":1,"tweetType":1,"viewCount":793,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833766070,"gmtCreate":1629264521890,"gmtModify":1631891370493,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/833766070","repostId":"1114320591","repostType":4,"repost":{"id":"1114320591","kind":"news","pubTimestamp":1629255336,"share":"https://www.laohunote.com/m/news/1114320591?lang=zh_CN&edition=full","pubTime":"2021-08-18 10:55","market":"us","language":"en","title":"3 Stocks I'm Never Selling<blockquote>我从不出售的 3 只股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114320591","media":"Motley Fool","summary":"The best investors in the world swear by holding high-quality companies for decades on end. These stocks fit that bill.","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Time plus patience adds up to wealth-building results in the stock market.</li>  <li>These three business titans are leaders in their fields.</li>  <li>They are also built to last for a very long time.</li> </ul> </p><p><blockquote><ul><li>时间加上耐心会导致股票市场的财富积累。</li><li>这三位商业巨头都是各自领域的领导者。</li><li>它们也可以持续很长时间。</li></ul></blockquote></p><p> I'm about to show you my favorite stocks. Sometimes I invest with an eye to strong returns over the next few years. These are the ones that I expect to keep beating the market for the years and decades to come. It will take a lot to pry them out of my portfolio.</p><p><blockquote>我要给你看我最喜欢的股票。有时我投资时着眼于未来几年的丰厚回报。这些是我预计在未来几年和几十年里继续击败市场的产品。把它们从我的投资组合里挖出来要花很多时间。</blockquote></p><p> Let me show you why I intend to hold&nbsp;<b>Netflix</b>(NASDAQ:NFLX),<b>Alphabet</b>(NASDAQ:GOOG)(NASDAQ:GOOGL), and&nbsp;<b>Walt Disney</b>(NYSE:DIS)for the long haul. These stocks may not be slam-dunk forever holdings for every investor, but you should absolutely take a close look at these top-notch investments.</p><p><blockquote>让我告诉你为什么我打算举行<b>网飞</b>（纳斯达克股票代码：NFLX），<b>Alphabet</b>（纳斯达克股票代码：GOOG）（纳斯达克股票代码：GOOGL）以及<b>华特·迪士尼</b>（纽约证券交易所代码：DIS）从长远来看。这些股票可能不是每个投资者都能永远持有的股票，但你绝对应该仔细看看这些顶级投资。</blockquote></p><p> <b>1. Netflix</b></p><p><blockquote><b>1. 网飞</b></blockquote></p><p> First, you knew Netflix as the sender of red mail-order DVD rentals. The company introduced digital video streams as a free add-on for DVD customers in&nbsp;2007, then separated the streaming business into a separate subscription service in 2011. The Qwikster event was a big marketing mess and could certainly have been handled better, but it was absolutely the right idea in the long run.</p><p><blockquote>首先，你知道网飞是红色邮购DVD租赁的发送者。该公司于 2007 年为 DVD 客户推出了数字视频流作为免费附加组件，然后在 2011 年将流媒体业务拆分为一项独立的订阅服务。Qwikster事件是一个大的营销混乱，当然可以处理得更好，但从长远来看，这绝对是正确的想法。</blockquote></p><p> Going all-in on the all-digital streaming service allowed Netflix to roll out its paid subscription plans on a global scale, supplemented by an ambitious focus on original content. The subscriber count has skyrocketed from 26 million in the summer of 2011 to 209 million today. That fantastic trend has worked wonders for the company's top and bottom lines:</p><p><blockquote>全力投入全数字流媒体服务使 Netflix 能够在全球范围内推出付费订阅计划，并辅以对原创内容的雄心勃勃的关注。用户数量从2011年夏天的2600万飙升至今天的2.09亿。这一奇妙的趋势为公司的营收和利润创造了奇迹：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/646be4c2a73d68810e962c19efe82476\" tg-width=\"720\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><span>NFLX REVENUE (TTM) DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS 提供的 NFLX 收入 (TTM) 数据。</span></p></blockquote></p><p> Netflix saw an opportunity to lead the charge into a brand-new market, with low infrastructure costs compared to the DVD-mailing business and buckets of worldwide growth potential. So the DVD business that had come to dominate the video rental sector in America was unceremoniously tossed aside in favor of better ideas.</p><p><blockquote>Netflix 看到了将这项收费引入全新市场的机会，与 DVD 邮寄业务相比，该市场的基础设施成本低，并且具有全球增长潜力。因此，在美国视频租赁行业占据主导地位的DVD业务被毫不客气地抛弃，取而代之的是更好的想法。</blockquote></p><p> These days, Netflix is an award-winning content producer with an unmatched distribution network in every market that matters (except forChina, where the company must operate through local partnerships). The stock has delivered a 2,240% return since the Qwikster event, which works out to a compound annual growth rate (CAGR) of 35.8%.</p><p><blockquote>如今，网飞是一家屡获殊荣的内容制作商，在每个重要市场都拥有无与伦比的分销网络（中国除外，该公司必须通过当地合作伙伴关系运营）。自 Qwikster 事件以来，该股已实现 2,240% 的回报率，复合年增长率 (CAGR) 为 35.8%。</blockquote></p><p> <b>2. Alphabet</b></p><p><blockquote><b>2.Alphabet</b></blockquote></p><p> Alphabet is the parent company of online services giant Google. What started as a student project at Stanford quickly evolved into the world's leading online search tool. Paired with the moneymaking muscle of Google's digital advertising tools, the company generated strong cash flows early on. The cash profits were reinvested in more business ideas. Google eventually built or bought services with matchless market shares in important sectors such as web browsers, online video, email, and smartphone software.</p><p><blockquote>Alphabet是在线服务巨头谷歌的母公司。斯坦福大学的一个学生项目很快发展成为世界领先的在线搜索工具。再加上谷歌数字广告工具的赚钱能力，该公司很早就产生了强劲的现金流。现金利润被再投资于更多的商业想法。谷歌最终建立或购买了在网络浏览器、在线视频、电子邮件和智能手机软件等重要领域拥有无与伦比的市场份额的服务。</blockquote></p><p> By 2015, co-founders Sergey Brin and Larry Page had concluded that Google's meat-and-potatoes search and advertising businesses eventually had to fade away, overtaken by mobile alternatives and other innovations. So the company made some big changes. Google hired CFO Ruth Porat, a banking executive with decades of experience in large-scale corporate finance. Later the same year, the company changed its name to Alphabet and reorganized itself into a loose conglomerate of different operations.</p><p><blockquote>到 2015 年，联合创始人谢尔盖·布林 (Sergey Brin) 和拉里·佩奇 (Larry Page) 得出结论，谷歌的肉和土豆搜索和广告业务最终将不得不消失，取而代之的是移动替代品和其他创新。所以公司做了一些大的改变。谷歌聘请了首席财务官露丝·波拉特（Ruth Porat），她是一位拥有数十年大型企业融资经验的银行业高管。同年晚些时候，该公司更名为Alphabet，并将自己重组为一个不同业务的松散企业集团。</blockquote></p><p> Google is still the backbone of Alphabet, accounting for 99.6% of the holding company's total sales in 2020. The non-Google operations are still losing money on a regular basis, despite some progress in the fields of self-driving vehicles and fiber-optic internet connections. At the same time, the company is preparing for an uncertain future by developing a plethora of online and offline business projects with massive long-term growth prospects and equally large development risks.</p><p><blockquote>谷歌仍是Alphabet的中坚力量，2020年占控股公司总销售额的99.6%。尽管在自动驾驶汽车和光纤互联网连接领域取得了一些进展，但非谷歌业务仍在定期亏损。与此同时，公司正在开发大量具有巨大长期增长前景和同样巨大发展风险的线上和线下业务项目，为不确定的未来做准备。</blockquote></p><p> If the self-driving cars don't work out in the long run, Alphabet might find a cash machine in medical research or novel wind energy generators. We may never even have heard of the next big winner in Alphabet's sprawling portfolio. If and when Alphabet starts to make serious money from artificial intelligence tools or cancer drugs, most consumers probably won't think of that stuff as a Google business at all.</p><p><blockquote>如果自动驾驶汽车从长远来看行不通，Alphabet可能会在医学研究或新型风力发电机中找到提款机。我们可能从未听说过 Alphabet 庞大投资组合中的下一个大赢家。如果Alphabet开始从人工智能工具或癌症药物中赚大钱，大多数消费者可能根本不会认为这些东西是谷歌的业务。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb97b6814df65240bd8f0b4a0690e77e\" tg-width=\"720\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><span>GOOGL REVENUE (TTM) DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS 的GOOGL收入 (TTM) 数据。</span></p></blockquote></p><p></p><p> Alphabet continues to ride its Google heritage as far as it will go, but there is no shortage of completely unrelated operations that can take over when the browser-based search and advertising business starts to falter. Until then, the traditional search business is booming and Alphabet has rewarded investors with a 912% return in 10 years. That's an annual growth rate of 23.3%.</p><p><blockquote>Alphabet将继续继承谷歌的传统，但当基于浏览器的搜索和广告业务开始步履蹒跚时，并不缺乏完全不相关的业务可以接管。在此之前，传统搜索业务蓬勃发展，Alphabet在 10 年内回报了投资者 912%。年增长率为 23.3%。</blockquote></p><p> <b>3. Walt Disney</b></p><p><blockquote><b>3. 华特·迪士尼</b></blockquote></p><p> And then there's the near-centennial entertainment giant. The House of Mouse was founded in 1923 by two cartoon-making brothers with a vision. The company has survived a world war, several terrible recessions, 10 decades of progress in distribution and production technologies, and much more.</p><p><blockquote>然后是近百年的娱乐巨头。老鼠之家是由两个有远见的卡通制作兄弟于1923年创立的。该公司经历了世界大战、几次可怕的经济衰退、10 年的分销和生产技术进步等等。</blockquote></p><p> The leisure and entertainment conglomerate you see today is a far cry from the original business, which was a pure-play cartoon production studio. Disney World and Disneyland are cultural touchstones. The company is a leading provider of hotel and resort services, including a cruise line. I can't think of another company that has mastered the art of monetizing its intellectual property as effectively as Disney has. And that intellectual property -- characters, fictional worlds, and storylines that most Americans know by heart -- will always be the lifeblood of Disney's business.</p><p><blockquote>你今天看到的休闲和娱乐集团与最初的业务相去甚远，最初的业务是一个纯粹的卡通制作工作室。迪士尼世界和迪士尼乐园是文化的试金石。该公司是一家领先的酒店和度假村服务提供商，包括一家邮轮公司。我想不出还有哪家公司能像迪士尼那样有效地掌握知识产权货币化的艺术。这种知识产权——大多数美国人熟知的角色、虚构世界和故事情节——将永远是迪士尼业务的命脉。</blockquote></p><p> Times are tough right now, as the coronavirus pandemic closed down movie theaters, theme parks, resorts, and cruise ships around the world. So Disney took a good, hard look at the drastic changes in the entertainment industry and decided to put its full weight behind media-streaming platforms.</p><p><blockquote>现在的日子很艰难，因为冠状病毒疫情关闭了世界各地的电影院、主题公园、度假村和游轮。因此，迪士尼仔细审视了娱乐业的剧烈变化，并决定全力支持流媒体平台。</blockquote></p><p> The company has been reorganized from the top down to support Disney's streaming platforms. The Disney+, Hulu, Hotstar, and ESPN+ streaming services are poised to challenge Netflix for the global media-streaming market, adding up to 174 million subscribers in the third quarter of 2021. Disney took on some extra debt in the darkest days of the health crisis and will most likely use some of that spare cash to accelerate its streaming operations.</p><p><blockquote>该公司自上而下进行了重组，以支持迪士尼的流媒体平台。Disney+、Hulu、Hotstar 和 ESPN+ 流媒体服务有望在全球媒体流媒体市场挑战 Netflix，在 2021 年第三季度累计拥有 1.74 亿用户。迪士尼在健康危机最黑暗的日子里承担了一些额外的债务，很可能会使用部分闲置现金来加速其流媒体运营。</blockquote></p><p> The coronavirus caught Disney unprepared, but management didn't hesitate to turn on a dime. The whole behemoth is heading in a different direction now, supported by the same treasure trove of storytelling assets that took the company this far. This supremely well-managed company is also beating the market in the long run, with a 439% 10-year gain that works out to a CAGR of 13%.</p><p><blockquote>冠状病毒让迪士尼措手不及，但管理层毫不犹豫地打开了一毛钱。整个庞然大物现在正朝着不同的方向前进，得到了将公司带到今天这一步的相同的讲故事资产宝库的支持。从长远来看，这家管理非常出色的公司也跑赢了市场，10 年收益为 439%，复合年增长率为 13%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/110cd288830d0e354767349fe36259e6\" tg-width=\"2000\" tg-height=\"1333\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>The common denominator</b></p><p><blockquote><b>公分母</b></blockquote></p><p> These three companies are very different, but they still have one all-important quality in common. I'm looking for flexibility in the face of good times and bad. If your company stands ready to make drastic changes to its operating plan when the business environment around it changes, you know you have an organization that will stand the test of time.</p><p><blockquote>这三家公司截然不同，但它们仍然有一个非常重要的共同点。面对顺境和逆境，我在寻找灵活性。如果你的公司准备在周围的商业环境发生变化时对其运营计划进行彻底的改变，你就知道你有一个经得起时间考验的组织。</blockquote></p><p> Lots of&nbsp;time in the market equals wealth-building returns. That's the main lesson you can learn from the writings of Benjamin Graham and the stellar results of his star student, Warren Buffett. Building life-changing wealth does not require a couple of years of fantastic returns. All you need is generally solid gains for several decades.</p><p><blockquote>在市场上的大量时间等于积累财富的回报。这是你可以从本杰明·格雷厄姆的著作和他的明星学生沃伦·巴菲特的优异成绩中学到的主要教训。积累改变生活的财富并不需要几年的惊人回报。你所需要的通常是几十年的稳健收益。</blockquote></p><p> For example, an annual return of 10% -- in line with&nbsp;the long-term market average-- adds up to a 673% profit over 20 years. Beating the Street by a small margin makes a big difference on this long time scale. Boost your average gains to just 11%, and you'll see 806% returns over those 20 years. Larger increases bring even greater total long-haul returns. The three stocks discussed above are set up to do better than that, and their very survival in the long run is just about guaranteed by that willingness to change when market conditions require it.</p><p><blockquote>例如，10% 的年回报率（与长期市场平均水平一致）加起来 20 年后利润高达 673%。在这个长期尺度上，以微弱优势击败华尔街会产生很大的影响。将您的平均收益提高到仅 11%，您将在这 20 年内看到 806% 的回报。更大的增长会带来更大的长期总回报。上面讨论的三只股票都是为了做得更好，从长远来看，它们的生存几乎是由市场条件需要时改变的意愿所保证的。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks I'm Never Selling<blockquote>我从不出售的 3 只股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks I'm Never Selling<blockquote>我从不出售的 3 只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-08-18 10:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Time plus patience adds up to wealth-building results in the stock market.</li>  <li>These three business titans are leaders in their fields.</li>  <li>They are also built to last for a very long time.</li> </ul> </p><p><blockquote><ul><li>时间加上耐心会导致股票市场的财富积累。</li><li>这三位商业巨头都是各自领域的领导者。</li><li>它们也可以持续很长时间。</li></ul></blockquote></p><p> I'm about to show you my favorite stocks. Sometimes I invest with an eye to strong returns over the next few years. These are the ones that I expect to keep beating the market for the years and decades to come. It will take a lot to pry them out of my portfolio.</p><p><blockquote>我要给你看我最喜欢的股票。有时我投资时着眼于未来几年的丰厚回报。这些是我预计在未来几年和几十年里继续击败市场的产品。把它们从我的投资组合里挖出来要花很多时间。</blockquote></p><p> Let me show you why I intend to hold&nbsp;<b>Netflix</b>(NASDAQ:NFLX),<b>Alphabet</b>(NASDAQ:GOOG)(NASDAQ:GOOGL), and&nbsp;<b>Walt Disney</b>(NYSE:DIS)for the long haul. These stocks may not be slam-dunk forever holdings for every investor, but you should absolutely take a close look at these top-notch investments.</p><p><blockquote>让我告诉你为什么我打算举行<b>网飞</b>（纳斯达克股票代码：NFLX），<b>Alphabet</b>（纳斯达克股票代码：GOOG）（纳斯达克股票代码：GOOGL）以及<b>华特·迪士尼</b>（纽约证券交易所代码：DIS）从长远来看。这些股票可能不是每个投资者都能永远持有的股票，但你绝对应该仔细看看这些顶级投资。</blockquote></p><p> <b>1. Netflix</b></p><p><blockquote><b>1. 网飞</b></blockquote></p><p> First, you knew Netflix as the sender of red mail-order DVD rentals. The company introduced digital video streams as a free add-on for DVD customers in&nbsp;2007, then separated the streaming business into a separate subscription service in 2011. The Qwikster event was a big marketing mess and could certainly have been handled better, but it was absolutely the right idea in the long run.</p><p><blockquote>首先，你知道网飞是红色邮购DVD租赁的发送者。该公司于 2007 年为 DVD 客户推出了数字视频流作为免费附加组件，然后在 2011 年将流媒体业务拆分为一项独立的订阅服务。Qwikster事件是一个大的营销混乱，当然可以处理得更好，但从长远来看，这绝对是正确的想法。</blockquote></p><p> Going all-in on the all-digital streaming service allowed Netflix to roll out its paid subscription plans on a global scale, supplemented by an ambitious focus on original content. The subscriber count has skyrocketed from 26 million in the summer of 2011 to 209 million today. That fantastic trend has worked wonders for the company's top and bottom lines:</p><p><blockquote>全力投入全数字流媒体服务使 Netflix 能够在全球范围内推出付费订阅计划，并辅以对原创内容的雄心勃勃的关注。用户数量从2011年夏天的2600万飙升至今天的2.09亿。这一奇妙的趋势为公司的营收和利润创造了奇迹：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/646be4c2a73d68810e962c19efe82476\" tg-width=\"720\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><span>NFLX REVENUE (TTM) DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS 提供的 NFLX 收入 (TTM) 数据。</span></p></blockquote></p><p> Netflix saw an opportunity to lead the charge into a brand-new market, with low infrastructure costs compared to the DVD-mailing business and buckets of worldwide growth potential. So the DVD business that had come to dominate the video rental sector in America was unceremoniously tossed aside in favor of better ideas.</p><p><blockquote>Netflix 看到了将这项收费引入全新市场的机会，与 DVD 邮寄业务相比，该市场的基础设施成本低，并且具有全球增长潜力。因此，在美国视频租赁行业占据主导地位的DVD业务被毫不客气地抛弃，取而代之的是更好的想法。</blockquote></p><p> These days, Netflix is an award-winning content producer with an unmatched distribution network in every market that matters (except forChina, where the company must operate through local partnerships). The stock has delivered a 2,240% return since the Qwikster event, which works out to a compound annual growth rate (CAGR) of 35.8%.</p><p><blockquote>如今，网飞是一家屡获殊荣的内容制作商，在每个重要市场都拥有无与伦比的分销网络（中国除外，该公司必须通过当地合作伙伴关系运营）。自 Qwikster 事件以来，该股已实现 2,240% 的回报率，复合年增长率 (CAGR) 为 35.8%。</blockquote></p><p> <b>2. Alphabet</b></p><p><blockquote><b>2.Alphabet</b></blockquote></p><p> Alphabet is the parent company of online services giant Google. What started as a student project at Stanford quickly evolved into the world's leading online search tool. Paired with the moneymaking muscle of Google's digital advertising tools, the company generated strong cash flows early on. The cash profits were reinvested in more business ideas. Google eventually built or bought services with matchless market shares in important sectors such as web browsers, online video, email, and smartphone software.</p><p><blockquote>Alphabet是在线服务巨头谷歌的母公司。斯坦福大学的一个学生项目很快发展成为世界领先的在线搜索工具。再加上谷歌数字广告工具的赚钱能力，该公司很早就产生了强劲的现金流。现金利润被再投资于更多的商业想法。谷歌最终建立或购买了在网络浏览器、在线视频、电子邮件和智能手机软件等重要领域拥有无与伦比的市场份额的服务。</blockquote></p><p> By 2015, co-founders Sergey Brin and Larry Page had concluded that Google's meat-and-potatoes search and advertising businesses eventually had to fade away, overtaken by mobile alternatives and other innovations. So the company made some big changes. Google hired CFO Ruth Porat, a banking executive with decades of experience in large-scale corporate finance. Later the same year, the company changed its name to Alphabet and reorganized itself into a loose conglomerate of different operations.</p><p><blockquote>到 2015 年，联合创始人谢尔盖·布林 (Sergey Brin) 和拉里·佩奇 (Larry Page) 得出结论，谷歌的肉和土豆搜索和广告业务最终将不得不消失，取而代之的是移动替代品和其他创新。所以公司做了一些大的改变。谷歌聘请了首席财务官露丝·波拉特（Ruth Porat），她是一位拥有数十年大型企业融资经验的银行业高管。同年晚些时候，该公司更名为Alphabet，并将自己重组为一个不同业务的松散企业集团。</blockquote></p><p> Google is still the backbone of Alphabet, accounting for 99.6% of the holding company's total sales in 2020. The non-Google operations are still losing money on a regular basis, despite some progress in the fields of self-driving vehicles and fiber-optic internet connections. At the same time, the company is preparing for an uncertain future by developing a plethora of online and offline business projects with massive long-term growth prospects and equally large development risks.</p><p><blockquote>谷歌仍是Alphabet的中坚力量，2020年占控股公司总销售额的99.6%。尽管在自动驾驶汽车和光纤互联网连接领域取得了一些进展，但非谷歌业务仍在定期亏损。与此同时，公司正在开发大量具有巨大长期增长前景和同样巨大发展风险的线上和线下业务项目，为不确定的未来做准备。</blockquote></p><p> If the self-driving cars don't work out in the long run, Alphabet might find a cash machine in medical research or novel wind energy generators. We may never even have heard of the next big winner in Alphabet's sprawling portfolio. If and when Alphabet starts to make serious money from artificial intelligence tools or cancer drugs, most consumers probably won't think of that stuff as a Google business at all.</p><p><blockquote>如果自动驾驶汽车从长远来看行不通，Alphabet可能会在医学研究或新型风力发电机中找到提款机。我们可能从未听说过 Alphabet 庞大投资组合中的下一个大赢家。如果Alphabet开始从人工智能工具或癌症药物中赚大钱，大多数消费者可能根本不会认为这些东西是谷歌的业务。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb97b6814df65240bd8f0b4a0690e77e\" tg-width=\"720\" tg-height=\"449\" referrerpolicy=\"no-referrer\"><span>GOOGL REVENUE (TTM) DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>YCHARTS 的GOOGL收入 (TTM) 数据。</span></p></blockquote></p><p></p><p> Alphabet continues to ride its Google heritage as far as it will go, but there is no shortage of completely unrelated operations that can take over when the browser-based search and advertising business starts to falter. Until then, the traditional search business is booming and Alphabet has rewarded investors with a 912% return in 10 years. That's an annual growth rate of 23.3%.</p><p><blockquote>Alphabet将继续继承谷歌的传统，但当基于浏览器的搜索和广告业务开始步履蹒跚时，并不缺乏完全不相关的业务可以接管。在此之前，传统搜索业务蓬勃发展，Alphabet在 10 年内回报了投资者 912%。年增长率为 23.3%。</blockquote></p><p> <b>3. Walt Disney</b></p><p><blockquote><b>3. 华特·迪士尼</b></blockquote></p><p> And then there's the near-centennial entertainment giant. The House of Mouse was founded in 1923 by two cartoon-making brothers with a vision. The company has survived a world war, several terrible recessions, 10 decades of progress in distribution and production technologies, and much more.</p><p><blockquote>然后是近百年的娱乐巨头。老鼠之家是由两个有远见的卡通制作兄弟于1923年创立的。该公司经历了世界大战、几次可怕的经济衰退、10 年的分销和生产技术进步等等。</blockquote></p><p> The leisure and entertainment conglomerate you see today is a far cry from the original business, which was a pure-play cartoon production studio. Disney World and Disneyland are cultural touchstones. The company is a leading provider of hotel and resort services, including a cruise line. I can't think of another company that has mastered the art of monetizing its intellectual property as effectively as Disney has. And that intellectual property -- characters, fictional worlds, and storylines that most Americans know by heart -- will always be the lifeblood of Disney's business.</p><p><blockquote>你今天看到的休闲和娱乐集团与最初的业务相去甚远，最初的业务是一个纯粹的卡通制作工作室。迪士尼世界和迪士尼乐园是文化的试金石。该公司是一家领先的酒店和度假村服务提供商，包括一家邮轮公司。我想不出还有哪家公司能像迪士尼那样有效地掌握知识产权货币化的艺术。这种知识产权——大多数美国人熟知的角色、虚构世界和故事情节——将永远是迪士尼业务的命脉。</blockquote></p><p> Times are tough right now, as the coronavirus pandemic closed down movie theaters, theme parks, resorts, and cruise ships around the world. So Disney took a good, hard look at the drastic changes in the entertainment industry and decided to put its full weight behind media-streaming platforms.</p><p><blockquote>现在的日子很艰难，因为冠状病毒疫情关闭了世界各地的电影院、主题公园、度假村和游轮。因此，迪士尼仔细审视了娱乐业的剧烈变化，并决定全力支持流媒体平台。</blockquote></p><p> The company has been reorganized from the top down to support Disney's streaming platforms. The Disney+, Hulu, Hotstar, and ESPN+ streaming services are poised to challenge Netflix for the global media-streaming market, adding up to 174 million subscribers in the third quarter of 2021. Disney took on some extra debt in the darkest days of the health crisis and will most likely use some of that spare cash to accelerate its streaming operations.</p><p><blockquote>该公司自上而下进行了重组，以支持迪士尼的流媒体平台。Disney+、Hulu、Hotstar 和 ESPN+ 流媒体服务有望在全球媒体流媒体市场挑战 Netflix，在 2021 年第三季度累计拥有 1.74 亿用户。迪士尼在健康危机最黑暗的日子里承担了一些额外的债务，很可能会使用部分闲置现金来加速其流媒体运营。</blockquote></p><p> The coronavirus caught Disney unprepared, but management didn't hesitate to turn on a dime. The whole behemoth is heading in a different direction now, supported by the same treasure trove of storytelling assets that took the company this far. This supremely well-managed company is also beating the market in the long run, with a 439% 10-year gain that works out to a CAGR of 13%.</p><p><blockquote>冠状病毒让迪士尼措手不及，但管理层毫不犹豫地打开了一毛钱。整个庞然大物现在正朝着不同的方向前进，得到了将公司带到今天这一步的相同的讲故事资产宝库的支持。从长远来看，这家管理非常出色的公司也跑赢了市场，10 年收益为 439%，复合年增长率为 13%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/110cd288830d0e354767349fe36259e6\" tg-width=\"2000\" tg-height=\"1333\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>The common denominator</b></p><p><blockquote><b>公分母</b></blockquote></p><p> These three companies are very different, but they still have one all-important quality in common. I'm looking for flexibility in the face of good times and bad. If your company stands ready to make drastic changes to its operating plan when the business environment around it changes, you know you have an organization that will stand the test of time.</p><p><blockquote>这三家公司截然不同，但它们仍然有一个非常重要的共同点。面对顺境和逆境，我在寻找灵活性。如果你的公司准备在周围的商业环境发生变化时对其运营计划进行彻底的改变，你就知道你有一个经得起时间考验的组织。</blockquote></p><p> Lots of&nbsp;time in the market equals wealth-building returns. That's the main lesson you can learn from the writings of Benjamin Graham and the stellar results of his star student, Warren Buffett. Building life-changing wealth does not require a couple of years of fantastic returns. All you need is generally solid gains for several decades.</p><p><blockquote>在市场上的大量时间等于积累财富的回报。这是你可以从本杰明·格雷厄姆的著作和他的明星学生沃伦·巴菲特的优异成绩中学到的主要教训。积累改变生活的财富并不需要几年的惊人回报。你所需要的通常是几十年的稳健收益。</blockquote></p><p> For example, an annual return of 10% -- in line with&nbsp;the long-term market average-- adds up to a 673% profit over 20 years. Beating the Street by a small margin makes a big difference on this long time scale. Boost your average gains to just 11%, and you'll see 806% returns over those 20 years. Larger increases bring even greater total long-haul returns. The three stocks discussed above are set up to do better than that, and their very survival in the long run is just about guaranteed by that willingness to change when market conditions require it.</p><p><blockquote>例如，10% 的年回报率（与长期市场平均水平一致）加起来 20 年后利润高达 673%。在这个长期尺度上，以微弱优势击败华尔街会产生很大的影响。将您的平均收益提高到仅 11%，您将在这 20 年内看到 806% 的回报。更大的增长会带来更大的长期总回报。上面讨论的三只股票都是为了做得更好，从长远来看，它们的生存几乎是由市场条件需要时改变的意愿所保证的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/08/17/3-stocks-im-never-selling/\">Motley 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":{"DIS":"迪士尼","GOOGL":"谷歌A","NFLX":"奈飞","GOOG":"谷歌"},"source_url":"https://www.fool.com/investing/2021/08/17/3-stocks-im-never-selling/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114320591","content_text":"Key Points\n\nTime plus patience adds up to wealth-building results in the stock market.\nThese three business titans are leaders in their fields.\nThey are also built to last for a very long time.\n\n\nI'm about to show you my favorite stocks. Sometimes I invest with an eye to strong returns over the next few years. These are the ones that I expect to keep beating the market for the years and decades to come. It will take a lot to pry them out of my portfolio.\nLet me show you why I intend to hold Netflix(NASDAQ:NFLX),Alphabet(NASDAQ:GOOG)(NASDAQ:GOOGL), and Walt Disney(NYSE:DIS)for the long haul. These stocks may not be slam-dunk forever holdings for every investor, but you should absolutely take a close look at these top-notch investments.\n1. Netflix\nFirst, you knew Netflix as the sender of red mail-order DVD rentals. The company introduced digital video streams as a free add-on for DVD customers in 2007, then separated the streaming business into a separate subscription service in 2011. The Qwikster event was a big marketing mess and could certainly have been handled better, but it was absolutely the right idea in the long run.\nGoing all-in on the all-digital streaming service allowed Netflix to roll out its paid subscription plans on a global scale, supplemented by an ambitious focus on original content. The subscriber count has skyrocketed from 26 million in the summer of 2011 to 209 million today. That fantastic trend has worked wonders for the company's top and bottom lines:\nNFLX REVENUE (TTM) DATA BY YCHARTS.\nNetflix saw an opportunity to lead the charge into a brand-new market, with low infrastructure costs compared to the DVD-mailing business and buckets of worldwide growth potential. So the DVD business that had come to dominate the video rental sector in America was unceremoniously tossed aside in favor of better ideas.\nThese days, Netflix is an award-winning content producer with an unmatched distribution network in every market that matters (except forChina, where the company must operate through local partnerships). The stock has delivered a 2,240% return since the Qwikster event, which works out to a compound annual growth rate (CAGR) of 35.8%.\n2. Alphabet\nAlphabet is the parent company of online services giant Google. What started as a student project at Stanford quickly evolved into the world's leading online search tool. Paired with the moneymaking muscle of Google's digital advertising tools, the company generated strong cash flows early on. The cash profits were reinvested in more business ideas. Google eventually built or bought services with matchless market shares in important sectors such as web browsers, online video, email, and smartphone software.\nBy 2015, co-founders Sergey Brin and Larry Page had concluded that Google's meat-and-potatoes search and advertising businesses eventually had to fade away, overtaken by mobile alternatives and other innovations. So the company made some big changes. Google hired CFO Ruth Porat, a banking executive with decades of experience in large-scale corporate finance. Later the same year, the company changed its name to Alphabet and reorganized itself into a loose conglomerate of different operations.\nGoogle is still the backbone of Alphabet, accounting for 99.6% of the holding company's total sales in 2020. The non-Google operations are still losing money on a regular basis, despite some progress in the fields of self-driving vehicles and fiber-optic internet connections. At the same time, the company is preparing for an uncertain future by developing a plethora of online and offline business projects with massive long-term growth prospects and equally large development risks.\nIf the self-driving cars don't work out in the long run, Alphabet might find a cash machine in medical research or novel wind energy generators. We may never even have heard of the next big winner in Alphabet's sprawling portfolio. If and when Alphabet starts to make serious money from artificial intelligence tools or cancer drugs, most consumers probably won't think of that stuff as a Google business at all.\nGOOGL REVENUE (TTM) DATA BY YCHARTS.\nAlphabet continues to ride its Google heritage as far as it will go, but there is no shortage of completely unrelated operations that can take over when the browser-based search and advertising business starts to falter. Until then, the traditional search business is booming and Alphabet has rewarded investors with a 912% return in 10 years. That's an annual growth rate of 23.3%.\n3. Walt Disney\nAnd then there's the near-centennial entertainment giant. The House of Mouse was founded in 1923 by two cartoon-making brothers with a vision. The company has survived a world war, several terrible recessions, 10 decades of progress in distribution and production technologies, and much more.\nThe leisure and entertainment conglomerate you see today is a far cry from the original business, which was a pure-play cartoon production studio. Disney World and Disneyland are cultural touchstones. The company is a leading provider of hotel and resort services, including a cruise line. I can't think of another company that has mastered the art of monetizing its intellectual property as effectively as Disney has. And that intellectual property -- characters, fictional worlds, and storylines that most Americans know by heart -- will always be the lifeblood of Disney's business.\nTimes are tough right now, as the coronavirus pandemic closed down movie theaters, theme parks, resorts, and cruise ships around the world. So Disney took a good, hard look at the drastic changes in the entertainment industry and decided to put its full weight behind media-streaming platforms.\nThe company has been reorganized from the top down to support Disney's streaming platforms. The Disney+, Hulu, Hotstar, and ESPN+ streaming services are poised to challenge Netflix for the global media-streaming market, adding up to 174 million subscribers in the third quarter of 2021. Disney took on some extra debt in the darkest days of the health crisis and will most likely use some of that spare cash to accelerate its streaming operations.\nThe coronavirus caught Disney unprepared, but management didn't hesitate to turn on a dime. The whole behemoth is heading in a different direction now, supported by the same treasure trove of storytelling assets that took the company this far. This supremely well-managed company is also beating the market in the long run, with a 439% 10-year gain that works out to a CAGR of 13%.\nIMAGE SOURCE: GETTY IMAGES.\nThe common denominator\nThese three companies are very different, but they still have one all-important quality in common. I'm looking for flexibility in the face of good times and bad. If your company stands ready to make drastic changes to its operating plan when the business environment around it changes, you know you have an organization that will stand the test of time.\nLots of time in the market equals wealth-building returns. That's the main lesson you can learn from the writings of Benjamin Graham and the stellar results of his star student, Warren Buffett. Building life-changing wealth does not require a couple of years of fantastic returns. All you need is generally solid gains for several decades.\nFor example, an annual return of 10% -- in line with the long-term market average-- adds up to a 673% profit over 20 years. Beating the Street by a small margin makes a big difference on this long time scale. Boost your average gains to just 11%, and you'll see 806% returns over those 20 years. Larger increases bring even greater total long-haul returns. The three stocks discussed above are set up to do better than that, and their very survival in the long run is just about guaranteed by that willingness to change when market conditions require it.","news_type":1,"symbols_score_info":{"NFLX":0.9,"GOOGL":0.9,"DIS":0.9,"GOOG":0.9}},"isVote":1,"tweetType":1,"viewCount":3093,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179760786,"gmtCreate":1626577765645,"gmtModify":1633925730084,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179760786","repostId":"1183956332","repostType":4,"isVote":1,"tweetType":1,"viewCount":1051,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802714050,"gmtCreate":1627806840870,"gmtModify":1633756208997,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/802714050","repostId":"1147877145","repostType":4,"isVote":1,"tweetType":1,"viewCount":918,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894031958,"gmtCreate":1628777074874,"gmtModify":1631891370500,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool&nbsp;","listText":"Cool&nbsp;","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/894031958","repostId":"2158325931","repostType":4,"repost":{"id":"2158325931","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628776169,"share":"https://www.laohunote.com/m/news/2158325931?lang=zh_CN&edition=full","pubTime":"2021-08-12 21:49","market":"us","language":"en","title":"BioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech 和 Moderna 因 FDA 可能批准加强剂的报道而获益</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2158325931","media":"Tiger Newspress","summary":"BioNTech and Moderna stock rose in early trading on Thursday, on track to recover some of the previo","content":"<p>BioNTech&nbsp;and Moderna&nbsp;stock rose in&nbsp;early&nbsp;trading&nbsp;on Thursday, on track to recover some of the previous session’s losses, following a report in the Wall Street Journal that the FDA could authorize Covid-19 booster shots for immunocompromised people.</p><p><blockquote>BioNTech 和 Moderna 的股票在周四早盘交易中上涨，有望收复前一交易日的部分失地，此前《华尔街日报》报道称，美国食品和药物管理局可能会授权为免疫功能低下的人注射 Covid-19 加强针。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2860e1c0dcbf5f35624516c9d0ff29db\" tg-width=\"895\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> BioNTech and Moderna were up 3.96% and 2% after plunging 14% and 15.6% in the previous session, respectively. Pfizer (NYSE:PFE), which shed 4% on Wednesday, was up 1%.</p><p><blockquote>BioNTech 和 Moderna 在前一交易日分别暴跌 14% 和 15.6% 后，分别上涨 3.96% 和 2%。辉瑞公司（纽约证券交易所股票代码：PFE）周三下跌 4%，上涨 1%。</blockquote></p><p> The WSJ reported that the Food and Drug Administration is nearing a decision to authorize booster shots for people with weak immunity amid a surge in new COVID cases because of the rapid spread of the delta variant.</p><p><blockquote>《华尔街日报》报道称，由于德尔塔变异毒株病毒的快速传播，新的COVID病例激增，美国食品和药物管理局即将决定授权免疫力低下的人注射加强针。</blockquote></p><p> There is growing evidence that two shots of the vaccines are inadequate for people with low immunity. Vaccine makers plan to approach the FDA this month or next for approval to their booster shots.</p><p><blockquote>越来越多的证据表明，两针疫苗对免疫力低下的人来说是不够的。疫苗制造商计划在本月或下个月向 FDA 申请批准他们的加强注射。</blockquote></p><p> BioNTech, Moderna and Pfizer all closed lower Wednesday following news that Europe’s drug regulator is studying three new conditions reported by a small number of people after getting Covid-19 shots to assess if they may be possible side-effects.</p><p><blockquote>BioNTech、Moderna 和辉瑞公司周三均收低，此前有消息称，欧洲药品监管机构正在研究少数人在注射 Covid-19 后报告的三种新情况，以评估它们是否可能是副作用。</blockquote></p><p> The conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer.</p><p><blockquote>据报道，接种 Moderna 或 BioNTech-Pfizer 生产的 mRNA 疫苗的患者出现了这些情况。</blockquote></p><p> Pfizer and BioNTech are collaborating on the research and marketing of their COVID-19 vaccine. Expenses and profit from the vaccine are split equally between Pfizer and BioNTech.</p><p><blockquote>辉瑞和BioNTech正在合作研究和营销他们的新冠肺炎疫苗。疫苗的费用和利润由辉瑞和 BioNTech 平分。</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>BioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech 和 Moderna 因 FDA 可能批准加强剂的报道而获益</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\">\nBioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech 和 Moderna 因 FDA 可能批准加强剂的报道而获益</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-12 21:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>BioNTech&nbsp;and Moderna&nbsp;stock rose in&nbsp;early&nbsp;trading&nbsp;on Thursday, on track to recover some of the previous session’s losses, following a report in the Wall Street Journal that the FDA could authorize Covid-19 booster shots for immunocompromised people.</p><p><blockquote>BioNTech 和 Moderna 的股票在周四早盘交易中上涨，有望收复前一交易日的部分失地，此前《华尔街日报》报道称，美国食品和药物管理局可能会授权为免疫功能低下的人注射 Covid-19 加强针。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2860e1c0dcbf5f35624516c9d0ff29db\" tg-width=\"895\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> BioNTech and Moderna were up 3.96% and 2% after plunging 14% and 15.6% in the previous session, respectively. Pfizer (NYSE:PFE), which shed 4% on Wednesday, was up 1%.</p><p><blockquote>BioNTech 和 Moderna 在前一交易日分别暴跌 14% 和 15.6% 后，分别上涨 3.96% 和 2%。辉瑞公司（纽约证券交易所股票代码：PFE）周三下跌 4%，上涨 1%。</blockquote></p><p> The WSJ reported that the Food and Drug Administration is nearing a decision to authorize booster shots for people with weak immunity amid a surge in new COVID cases because of the rapid spread of the delta variant.</p><p><blockquote>《华尔街日报》报道称，由于德尔塔变异毒株病毒的快速传播，新的COVID病例激增，美国食品和药物管理局即将决定授权免疫力低下的人注射加强针。</blockquote></p><p> There is growing evidence that two shots of the vaccines are inadequate for people with low immunity. Vaccine makers plan to approach the FDA this month or next for approval to their booster shots.</p><p><blockquote>越来越多的证据表明，两针疫苗对免疫力低下的人来说是不够的。疫苗制造商计划在本月或下个月向 FDA 申请批准他们的加强注射。</blockquote></p><p> BioNTech, Moderna and Pfizer all closed lower Wednesday following news that Europe’s drug regulator is studying three new conditions reported by a small number of people after getting Covid-19 shots to assess if they may be possible side-effects.</p><p><blockquote>BioNTech、Moderna 和辉瑞公司周三均收低，此前有消息称，欧洲药品监管机构正在研究少数人在注射 Covid-19 后报告的三种新情况，以评估它们是否可能是副作用。</blockquote></p><p> The conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer.</p><p><blockquote>据报道，接种 Moderna 或 BioNTech-Pfizer 生产的 mRNA 疫苗的患者出现了这些情况。</blockquote></p><p> Pfizer and BioNTech are collaborating on the research and marketing of their COVID-19 vaccine. Expenses and profit from the vaccine are split equally between Pfizer and BioNTech.</p><p><blockquote>辉瑞和BioNTech正在合作研究和营销他们的新冠肺炎疫苗。疫苗的费用和利润由辉瑞和 BioNTech 平分。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BNTX":"BioNTech SE","MRNA":"Moderna, Inc.","PFE":"辉瑞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158325931","content_text":"BioNTech and Moderna stock rose in early trading on Thursday, on track to recover some of the previous session’s losses, following a report in the Wall Street Journal that the FDA could authorize Covid-19 booster shots for immunocompromised people.\n\nBioNTech and Moderna were up 3.96% and 2% after plunging 14% and 15.6% in the previous session, respectively. Pfizer (NYSE:PFE), which shed 4% on Wednesday, was up 1%.\nThe WSJ reported that the Food and Drug Administration is nearing a decision to authorize booster shots for people with weak immunity amid a surge in new COVID cases because of the rapid spread of the delta variant.\nThere is growing evidence that two shots of the vaccines are inadequate for people with low immunity. Vaccine makers plan to approach the FDA this month or next for approval to their booster shots.\nBioNTech, Moderna and Pfizer all closed lower Wednesday following news that Europe’s drug regulator is studying three new conditions reported by a small number of people after getting Covid-19 shots to assess if they may be possible side-effects.\nThe conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer.\nPfizer and BioNTech are collaborating on the research and marketing of their COVID-19 vaccine. Expenses and profit from the vaccine are split equally between Pfizer and BioNTech.","news_type":1,"symbols_score_info":{"PFE":0.9,"BNTX":0.9,"MRNA":0.9}},"isVote":1,"tweetType":1,"viewCount":2514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891480104,"gmtCreate":1628410995108,"gmtModify":1631891370505,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/891480104","repostId":"1180529438","repostType":4,"repost":{"id":"1180529438","kind":"news","pubTimestamp":1628386129,"share":"https://www.laohunote.com/m/news/1180529438?lang=zh_CN&edition=full","pubTime":"2021-08-08 09:28","market":"us","language":"en","title":"SEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC 提起首例 DeFi 未注册证券诉讼</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180529438","media":"Benzinga","summary":"The United States Securities and Exchange Commission  sued the organization responsible for the development of a decentralized finance  protocol over activities involved with the project for the first time.What Happened: According to a Friday SEC announcement, the agency has sued Cayman Islands-based Blockchain Credit Partners and two of its top executives over allegedly selling unregistered securities through its DeFi Money Market platform from February 2020 to February 2021. The firm purported","content":"<p><div> The United States Securities and Exchange Commission (SEC) sued the organization responsible for the development of a decentralized finance (DeFi) protocol over activities involved with the project ...</p><p><blockquote><div>美国证券交易委员会（SEC）就该项目涉及的活动起诉了负责开发去中心化金融（DeFi）协议的组织……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC 提起首例 DeFi 未注册证券诉讼</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\">\nSEC Moves First DeFi Unregistered Securities Lawsuit<blockquote>SEC 提起首例 DeFi 未注册证券诉讼</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-08 09:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The United States Securities and Exchange Commission (SEC) sued the organization responsible for the development of a decentralized finance (DeFi) protocol over activities involved with the project ...</p><p><blockquote><div>美国证券交易委员会（SEC）就该项目涉及的活动起诉了负责开发去中心化金融（DeFi）协议的组织……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.benzinga.com/markets/cryptocurrency/21/08/22378359/sec-moves-first-defi-unregistered-securities-lawsuit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180529438","content_text":"The United States Securities and Exchange Commission (SEC) sued the organization responsible for the development of a decentralized finance (DeFi) protocol over activities involved with the project for the first time.\nWhat Happened: According to a Friday SEC announcement, the agency has sued Cayman Islands-based Blockchain Credit Partners and two of its top executives over allegedly selling unregistered securities through its DeFi Money Market platform from February 2020 to February 2021. The firm purportedly sold over $30 million worth of two types of tokens that the SEC deemed to be securities that should have been registered as such.\nThe SEC notes that Blockchain Credit Partners founders Gregory Keough and Derek Acree will have to pay fines of $125,000 while the company itself also agreed to pay $12.8 million in disgorgement. The settlement does not indicate an admition or denial the accusations.\nNew Game, Old Rules?\nSEC Enforcement Director Gurbir Grewal explained that \"full and honest disclosure remains the cornerstone of our securities laws — no matter what technologies are used to offer and sell those securities.\" This comment makes it very clear that slapping the DeFi label on a project and hoping to avoid regulation this way works no better than calling it a \"utility token\" prevented falling under the SEC's scrutiny during 2017's initial coin offering craze.\nThe SEC is trying to send the clear rule that the new kind of financial organizations that operate on blockchains have to still play by the old rules that govern traditional finance. At the same time, market onlookers are not sure if the regulator is actually right.\nIn a way, it is a tour de force where the regulator wins every time it has a way to take enforcement action, but these new organizations potentially have a very real way to make enforcement impossible — or at the very least impractical. The only protection against enforcement by the SEC and other regulators is decentralization and the only reason why the SEC was able to act in this case is that a centralized organization such as Blockchain Credit Partners exists.\nWhat's Next:If no company exists and all that there is to a DeFi protocol is a set of smart contracts deployed on a blockchain by a group of anonymous developers scattered around the world there is very little that the SEC can do short of attacking the blockchain itself. This is where the decentralization of the underlying blockchain comes into play: will the regulators for instance be able to force Ethereum's (CRYPTO: ETH) core development team to write an update stopping such a project?\nIf the regulators would actually be able to force the blockchain's developers to write such an update, would node operators and miners or stakers adopt this software or would they refuse to? Such situations will be the real test of the decentralization and reliability of any blockchain that many are waiting to happen. Regulators are seeing power slipping away between their fingers like sand, and they are going to try to grab it.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":2227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172870524,"gmtCreate":1626955490668,"gmtModify":1633769429389,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172870524","repostId":"2153477496","repostType":4,"isVote":1,"tweetType":1,"viewCount":938,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810137180,"gmtCreate":1629951186440,"gmtModify":1631891370480,"author":{"id":"3586824137273413","authorId":"3586824137273413","name":"jacjacsim","avatar":"https://static.tigerbbs.com/930e9a8615ab098a20ba5d6e1ef84e42","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586824137273413","authorIdStr":"3586824137273413"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/810137180","repostId":"1197778368","repostType":4,"isVote":1,"tweetType":1,"viewCount":3179,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}