ee22的个人主页 - 老虎社区

ee22

ee22

暂无个人介绍

IP属地：未知

55关注

13粉丝

0主题

0勋章

2021-07-19

Cos blue origin oso going to space n lift the entire industry? When u tink competition gonna crumple n it turns out win win.

Virgin Galactic surged over 5% in morning trading<blockquote>维珍银河早盘飙升逾5%</blockquote>

2021-07-18

Wow when is our turn next

抱歉，原内容已删除

2021-07-25

Hopeful!!

抱歉，原内容已删除

2021-07-24

Y savvy move stock nv climb?

抱歉，原内容已删除

2021-07-15

How can compare with 1999? No covid back then no pent up IPOs. Crash says for many yrs n iwaited till now oso no crash to throw my fortune in.

抱歉，原内容已删除

2021-07-13

Is the trick to sell b4 earnings release? Y exceed earnings yet pre market drop

抱歉，原内容已删除

2021-07-22

Go Elon go

Toplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote>

2021-07-28

Hmm...

抱歉，原内容已删除

2021-07-24

Izzit too late to buy now?

抱歉，原内容已删除

2021-07-23

Izzit too late to jump in now?

抱歉，原内容已删除

2021-07-15

Izzit juz me. Dun understand. *shrugs*

Inflation: The Next Stage Of The Global Financial Crisis 2007-2031<blockquote>通货膨胀：2007-2031年全球金融危机的下一阶段</blockquote>

2021-07-11

When fda announced license approved it went up to $57. Now actual flight n not near tat level. Y?

抱歉，原内容已删除

2021-07-29

U nv know what they will comment. Later anogher fb...

抱歉，原内容已删除

2021-07-20

My eyes has tuned n got used to the permanent reds of my portfolio

Is This the Long-Awaited Stock Market Crash?<blockquote>这是期待已久的股灾吗？</blockquote>

2021-07-18

So many... which to choose??

抱歉，原内容已删除

2021-07-11

Much as i support apple, hope they care abt the environment too. New tech to improve wld benefit both biz n reduce waste

抱歉，原内容已删除

2021-07-11

Arent the big tech competitors of zoom or their focus aren't in tis area?

2 Growth Stocks for the Next 10 Years<blockquote>未来10年的2只成长型股票</blockquote>

2021-07-27

Trying to make us sell cheap so u can buy

Palantir: Prepare To Be Disappointed<blockquote>Palantir：做好失望的准备</blockquote>

2021-07-15

The title almost stopped my heart. Can't they phrase it better??!!

抱歉，原内容已删除

2021-07-15

Competition with Pfizer? So p shares will drop?

抱歉，原内容已删除

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"4087614241741070","uuid":"4087614241741070","gmtCreate":1624511178471,"gmtModify":1624871261258,"name":"ee22","pinyin":"ee22","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":13,"headSize":55,"tweetSize":33,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.11.18","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"228c86a078844d74991fff2b7ab2428d-1","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资经理虎","description":"证券账户累计交易金额达到10万美元","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"60.32%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"35ec162348d5460f88c959321e554969-1","templateUuid":"35ec162348d5460f88c959321e554969","name":"精英交易员","description":"证券或期货账户累计交易次数达到30次","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.89%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":808992204,"gmtCreate":1627549107608,"gmtModify":1631891540037,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"U nv know what they will comment. Later anogher fb...","listText":"U nv know what they will comment. Later anogher fb...","text":"U nv know what they will comment. Later anogher fb...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808992204","repostId":"1165497040","repostType":4,"isVote":1,"tweetType":1,"viewCount":2107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803756223,"gmtCreate":1627466974762,"gmtModify":1631891540039,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Hmm...","listText":"Hmm...","text":"Hmm...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803756223","repostId":"1181811581","repostType":4,"isVote":1,"tweetType":1,"viewCount":2736,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809236288,"gmtCreate":1627371701444,"gmtModify":1631891540041,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Trying to make us sell cheap&nbsp;so u can buy","listText":"Trying to make us sell cheap&nbsp;so u can buy","text":"Trying to make us sell cheap so u can buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809236288","repostId":"1139478455","repostType":4,"repost":{"id":"1139478455","kind":"news","pubTimestamp":1627370605,"share":"https://www.laohu8.com/m/news/1139478455?lang=zh_CN&edition=full","pubTime":"2021-07-27 15:23","market":"us","language":"en","title":"Palantir: Prepare To Be Disappointed<blockquote>Palantir：做好失望的准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139478455","media":"seekingalpha","summary":"Summary\n\nWe continue to believe that Palantir’s upside appears to be limited and its future growth i","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>We continue to believe that Palantir’s upside appears to be limited and its future growth is already priced in.</li>  <li>Our analysis shows that Palantir’s fair value is $8.22 per share, which represents a downside of over 60% from the current market price.</li>  <li>The dilution risk and the continuous selling pressure are likely going to prevent the appreciation of Palantir’s stock anytime soon.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ce2494cb75075c64622ebd6b351e43d\" tg-width=\"1536\" tg-height=\"1155\" referrerpolicy=\"no-referrer\"><span>Kevin Dietsch/Getty Images News</span></p><p><blockquote><ul><li>我们仍然认为Palantir的上涨空间似乎有限，其未来的增长已经被消化。</li><li>我们的分析显示，Palantir的公允价值为每股8.22美元，较当前市场价格下跌超过60%。</li><li>稀释风险和持续的抛售压力可能会很快阻止Palantir股票的升值。</li></ul><p class=\"t-img-caption\"><span>凯文·迪奇/盖蒂图片社新闻</span></p></blockquote></p><p> Palantir (PLTR) has been underperforming the market in recent weeks and we believe that its stock still has more room to fall. Our analysis shows that Palantir is extremely overvalued at the current levels and several issues are likely going to prevent its stock from appreciating further anytime soon. For that reason, we continue to believe that it’s better to avoid Palantir at the current price, as its upside appears to be limited.</p><p><blockquote>Palantir（PLTR）最近几周的表现一直逊于市场，我们认为其股价仍有更大的下跌空间。我们的分析表明，Palantir在目前的水平上被严重高估，一些问题可能会阻止其股票在短期内进一步升值。因此，我们仍然认为最好以当前价格避开Palantir，因为其上涨空间似乎有限。</blockquote></p><p> <b>There Are Several Red Flags, Which You Shouldn’t Ignore</b></p><p><blockquote><b>有几个危险信号，你不应该忽视</b></blockquote></p><p> Palantir specializes in creating custom software solutions for collecting data for its clients, who are mostly government agencies and public companies. While some might think that Palantir is a young company with lots of potential, the reality is that it’s not a startup, as it has been in the business for almost two decades already, and since that time it has managed to add less than 200 customers. As a result, the company is exposed to a limited pool of organizations, who generate most of the revenues. This is mostly because Palantir doesn’t have a scalable business. The value of the company’s average contract ranges from $5 million to $6 million, which prevents small and medium businesses from using its services. While Palantir tries to tackle this issue by offering its Foundry platform for the commercial sector at attractive terms, it’s still too soon to tell whether it will improve its affordability to most of the third parties and have any major impact on its financials in the long run.</p><p><blockquote>Palantir专门为其客户创建用于收集数据的定制软件解决方案，这些客户大多是政府机构和上市公司。虽然有些人可能认为Palantir是一家具有巨大潜力的年轻公司，但事实是它并不是一家初创公司，因为它已经经营了近二十年，从那时起，它已经设法增加了不到200个客户。因此，该公司接触到的组织数量有限，而这些组织创造了大部分收入。这主要是因为Palantir没有可扩展的业务。该公司的平均合同价值从500万美元到600万美元不等，这使得中小型企业无法使用其服务。虽然Palantir试图通过以有吸引力的条款为商业领域提供代工平台来解决这一问题，但现在判断它是否会提高大多数第三方的承受能力并从长远来看对其财务状况产生任何重大影响还为时过早。</blockquote></p><p> In addition, while bulls might want to deny this, but Palantir operates like a consulting company. The company has a special position of a forward-deployed engineer, who analyzes different processes of potential clients and then explains how Palantir’s software could help them improve their operations. Considering this, it’s safe to say that Palantir doesn’t have a unique business model since its whole proposition is that it can analyze the available data better than others. However, nothing stops new entrants from entering the field and offering similar solutions, and nothing stops organizations' internal IT departments from developing better tools to analyze all of the processes at a more affordable price.</p><p><blockquote>此外，虽然多头可能想否认这一点，但Palantir的运营方式就像一家咨询公司。该公司有一个特殊的职位，即前沿部署工程师，他分析潜在客户的不同流程，然后解释Palantir的软件如何帮助他们改善运营。考虑到这一点，可以肯定地说Palantir没有独特的商业模式，因为它的整个主张是它可以比其他人更好地分析可用数据。然而，没有什么能阻止新进入者进入该领域并提供类似的解决方案，也没有什么能阻止组织的内部IT部门开发更好的工具，以更实惠的价格分析所有流程。</blockquote></p><p> Another downside of Palantir is that despite the increase in margins and gross profit in recent quarters, it never made a profit in its history after being so long in the business. Its operating loss has onlywidenedin recent years from -$600 million in 2018 to -$1.17 billion in 2020, to -$1.22 billion in the last twelve months. This is due to the excessive stock-based compensation program that results in increased expenses and massive dilution, which is something that a lot of bulls tend to ignore. Let’s not forget that the company’s expenses relating to the SBC program increased by around 257% year over year last quarter and were $193 million. At the same time, Palantir already has 1.8 billion shares outstanding, an increase from 1.52 billion shares, which were outstanding at the end of last year. The problem is that the excessive SBC program will continue to be a major issue for the company’s investors since there are still 477 million optionsoutstanding, which will dilute the current shareholders by more than 20% if fully exercised.</p><p><blockquote>Palantir的另一个缺点是，尽管最近几个季度利润率和毛利润有所增加，但在从事该业务这么长时间后，它在历史上从未盈利过。近年来，其运营亏损仅从2018年的-6亿美元扩大到2020年的-11.7亿美元，并在过去12个月扩大到-12.2亿美元。这是由于过度的股票薪酬计划导致费用增加和大规模稀释，这是许多多头往往忽视的。我们不要忘记，该公司上季度与SBC计划相关的费用同比增长了约257%，达到1.93亿美元。与此同时，Palantir已拥有18亿股流通股，较去年年底的15.2亿股有所增加。问题是，过度的SBC计划将继续成为公司投资者的一个主要问题，因为仍有4.77亿份期权尚未行使，如果完全行使，将使现有股东稀释20%以上。</blockquote></p><p> For that reason, we continue to believe that Palantir’s stock will continue to be an unattractive investment and it’ll likely continue to underperform the market. It’s already down ~15% since our bearisharticlewas published a month ago and we believe that there’s more room for a depreciation.</p><p><blockquote>因此，我们仍然认为Palantir的股票将继续是一项没有吸引力的投资，并且可能会继续跑输市场。自一个月前我们的看跌文章发表以来，它已经下跌了约15%，我们认为还有更大的贬值空间。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/facca499bd702a4193cac4eabbe4a9a2\" tg-width=\"1280\" tg-height=\"443\" referrerpolicy=\"no-referrer\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p></p><p> Another reason to be bearish about Palantir is due to the fact that there’s an extreme selling pressure, which is created by the company’s insiders and its CEO in particular, who are constantly dumping their shares on an open market. In July alone insiderssoldin total $63 million worth of Palantir shares, which is only $31 million slightly less than what they sold in Q1 when the lockup period expired. Considering this and the fact that they still have ~10% ownership stake in the company, it’s safe to assume they’ll continue to sell their shares and create an even greater selling pressure, which is likely going to prevent the stock from significantly appreciating from the current levels.</p><p><blockquote>看跌Palantir的另一个原因是存在巨大的抛售压力，这是由公司内部人士，尤其是首席执行官造成的，他们不断在公开市场上抛售股票。仅在7月份，内部人士就出售了总价值6300万美元的Palantir股票，仅比第一季度禁售期到期时出售的股票略少3100万美元。考虑到这一点以及他们仍持有该公司约10%的股权这一事实，可以肯定的是，他们将继续出售股票并造成更大的抛售压力，这可能会阻止该股大幅升值从当前水平。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> We created a discounted cash flow model to find Palantir’s fair value. The weighted average cost of capital in our model is 6%, while the terminal growth rate is 3%.</p><p><blockquote>我们创建了一个贴现现金流模型来查找Palantir的公允价值。我们模型中的加权平均资本成本为6%，而终端增长率为3%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb588ed877784db58cfe10b7d49d6dae\" tg-width=\"772\" tg-height=\"390\" referrerpolicy=\"no-referrer\"><span>Source: Capital IQ, Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Capital IQ，自己的估计</span></p></blockquote></p><p> After doing all the necessary calculations, our DCF model showed that Palantir’s fair value is $8.47 per share, which represents a downside of over 60% from the current market price.</p><p><blockquote>在进行所有必要的计算后，我们的DCF模型显示Palantir的公允价值为每股8.47美元，较当前市场价格下跌超过60%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9988abd16861dfad80d5febd22b2c1fb\" tg-width=\"404\" tg-height=\"368\" referrerpolicy=\"no-referrer\"><span>Source: Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：自己的估计</span></p></blockquote></p><p> For relative valuation, we compared Palantir to eight other companies from the tech industry and the SaaS niche in particular. By looking at the numbers below, we could safely say that Palantir is extremely overvalued to others, especially since its EBITDA margin of -72.8% is the worst among its peers, and at a market cap of ~$40 billion, its stock is overpriced.</p><p><blockquote>对于相对估值，我们将Palantir与来自科技行业，特别是SaaS利基市场的其他八家公司进行了比较。通过查看下面的数字，我们可以有把握地说，Palantir对其他人来说被严重高估，特别是因为其EBITDA利润率为-72.8%，是同行中最差的，而且市值约为400亿美元，其股票定价过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70de8f9f7b52ae29d77492ed21083982\" tg-width=\"751\" tg-height=\"335\" referrerpolicy=\"no-referrer\"><span>Source: Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Capital IQ</span></p></blockquote></p><p> By consolidating the DCF model and the relative valuation method and giving the former 75% weight in the final analysis, while giving the latter 25$ weight in the final analysis, we concluded that Palantir’s final fair value is $8.22 per share, which is significantly below its current market price of ~$22 per share.</p><p><blockquote>通过合并DCF模型和相对估值法，并在最终分析中给予前者75%的权重，而在最终分析中给予后者25美元的权重，我们得出的结论是，Palantir的最终公允价值为每股8.22美元，明显低于其目前的市场价格约为每股22美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05db90bdfb26c691331c9cdede01a87b\" tg-width=\"595\" tg-height=\"297\" referrerpolicy=\"no-referrer\"><span>Source: Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：自己的估计</span></p></blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Despite its advanced data software solutions, Palantir continues to be an unattractive investment in our opinion and its stock is unlikely to move significantly higher anytime soon. The company doesn’t have a unique proposition at an affordable price on the market and there’s every reason to believe that its expenses will continue to increase in the following years due to the higher inflation and increased competition, while its bottom line will continue to suffer. As a result, despite signing new multi-million contracts from time to time, it’s still hard to justify its ~$40 billion market cap. Considering this, we strongly believe that Palantir is not a value investment at this stage, and not a growth play as well since the dilution risk and the continuous selling pressure are likely going to prevent the appreciation of its stock anytime soon.</p><p><blockquote>尽管Palantir拥有先进的数据软件解决方案，但我们认为Palantir仍然是一项没有吸引力的投资，其股价不太可能很快大幅走高。该公司在市场上没有一个价格实惠的独特主张，而且有充分的理由相信，由于通胀上升和竞争加剧，其费用在未来几年将继续增加，而其利润将继续下降。遭受。因此，尽管不时签署数百万美元的新合同，但仍然很难证明其约400亿美元的市值是合理的。考虑到这一点，我们坚信Palantir现阶段不是价值投资，也不是成长型投资，因为稀释风险和持续的抛售压力可能会很快阻止其股票升值。</blockquote></p><p> While we don’t expect the stock to depreciate to its fair value of $8.22 per share in the foreseeable future, a decent decline from the current market price is more than possible, especially since the company already trades at 28 times its revenues and is considered to be overvalued. For that reason, we stick to our opinion that Palantir’s upside appears to be limited and its future growth is already priced in.</p><p><blockquote>虽然我们预计该股在可预见的未来不会贬值至每股8.22美元的公允价值，但较当前市场价格大幅下跌的可能性很大，特别是因为该公司的交易价格已经是其收入的28倍，并且被认为被高估了。因此，我们坚持认为Palantir的上涨空间似乎有限，其未来增长已经被消化。</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>Palantir: Prepare To Be Disappointed<blockquote>Palantir：做好失望的准备</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir: Prepare To Be Disappointed<blockquote>Palantir：做好失望的准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-27 15:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>We continue to believe that Palantir’s upside appears to be limited and its future growth is already priced in.</li>  <li>Our analysis shows that Palantir’s fair value is $8.22 per share, which represents a downside of over 60% from the current market price.</li>  <li>The dilution risk and the continuous selling pressure are likely going to prevent the appreciation of Palantir’s stock anytime soon.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ce2494cb75075c64622ebd6b351e43d\" tg-width=\"1536\" tg-height=\"1155\" referrerpolicy=\"no-referrer\"><span>Kevin Dietsch/Getty Images News</span></p><p><blockquote><ul><li>我们仍然认为Palantir的上涨空间似乎有限，其未来的增长已经被消化。</li><li>我们的分析显示，Palantir的公允价值为每股8.22美元，较当前市场价格下跌超过60%。</li><li>稀释风险和持续的抛售压力可能会很快阻止Palantir股票的升值。</li></ul><p class=\"t-img-caption\"><span>凯文·迪奇/盖蒂图片社新闻</span></p></blockquote></p><p> Palantir (PLTR) has been underperforming the market in recent weeks and we believe that its stock still has more room to fall. Our analysis shows that Palantir is extremely overvalued at the current levels and several issues are likely going to prevent its stock from appreciating further anytime soon. For that reason, we continue to believe that it’s better to avoid Palantir at the current price, as its upside appears to be limited.</p><p><blockquote>Palantir（PLTR）最近几周的表现一直逊于市场，我们认为其股价仍有更大的下跌空间。我们的分析表明，Palantir在目前的水平上被严重高估，一些问题可能会阻止其股票在短期内进一步升值。因此，我们仍然认为最好以当前价格避开Palantir，因为其上涨空间似乎有限。</blockquote></p><p> <b>There Are Several Red Flags, Which You Shouldn’t Ignore</b></p><p><blockquote><b>有几个危险信号，你不应该忽视</b></blockquote></p><p> Palantir specializes in creating custom software solutions for collecting data for its clients, who are mostly government agencies and public companies. While some might think that Palantir is a young company with lots of potential, the reality is that it’s not a startup, as it has been in the business for almost two decades already, and since that time it has managed to add less than 200 customers. As a result, the company is exposed to a limited pool of organizations, who generate most of the revenues. This is mostly because Palantir doesn’t have a scalable business. The value of the company’s average contract ranges from $5 million to $6 million, which prevents small and medium businesses from using its services. While Palantir tries to tackle this issue by offering its Foundry platform for the commercial sector at attractive terms, it’s still too soon to tell whether it will improve its affordability to most of the third parties and have any major impact on its financials in the long run.</p><p><blockquote>Palantir专门为其客户创建用于收集数据的定制软件解决方案，这些客户大多是政府机构和上市公司。虽然有些人可能认为Palantir是一家具有巨大潜力的年轻公司，但事实是它并不是一家初创公司，因为它已经经营了近二十年，从那时起，它已经设法增加了不到200个客户。因此，该公司接触到的组织数量有限，而这些组织创造了大部分收入。这主要是因为Palantir没有可扩展的业务。该公司的平均合同价值从500万美元到600万美元不等，这使得中小型企业无法使用其服务。虽然Palantir试图通过以有吸引力的条款为商业领域提供代工平台来解决这一问题，但现在判断它是否会提高大多数第三方的承受能力并从长远来看对其财务状况产生任何重大影响还为时过早。</blockquote></p><p> In addition, while bulls might want to deny this, but Palantir operates like a consulting company. The company has a special position of a forward-deployed engineer, who analyzes different processes of potential clients and then explains how Palantir’s software could help them improve their operations. Considering this, it’s safe to say that Palantir doesn’t have a unique business model since its whole proposition is that it can analyze the available data better than others. However, nothing stops new entrants from entering the field and offering similar solutions, and nothing stops organizations' internal IT departments from developing better tools to analyze all of the processes at a more affordable price.</p><p><blockquote>此外，虽然多头可能想否认这一点，但Palantir的运营方式就像一家咨询公司。该公司有一个特殊的职位，即前沿部署工程师，他分析潜在客户的不同流程，然后解释Palantir的软件如何帮助他们改善运营。考虑到这一点，可以肯定地说Palantir没有独特的商业模式，因为它的整个主张是它可以比其他人更好地分析可用数据。然而，没有什么能阻止新进入者进入该领域并提供类似的解决方案，也没有什么能阻止组织的内部IT部门开发更好的工具，以更实惠的价格分析所有流程。</blockquote></p><p> Another downside of Palantir is that despite the increase in margins and gross profit in recent quarters, it never made a profit in its history after being so long in the business. Its operating loss has onlywidenedin recent years from -$600 million in 2018 to -$1.17 billion in 2020, to -$1.22 billion in the last twelve months. This is due to the excessive stock-based compensation program that results in increased expenses and massive dilution, which is something that a lot of bulls tend to ignore. Let’s not forget that the company’s expenses relating to the SBC program increased by around 257% year over year last quarter and were $193 million. At the same time, Palantir already has 1.8 billion shares outstanding, an increase from 1.52 billion shares, which were outstanding at the end of last year. The problem is that the excessive SBC program will continue to be a major issue for the company’s investors since there are still 477 million optionsoutstanding, which will dilute the current shareholders by more than 20% if fully exercised.</p><p><blockquote>Palantir的另一个缺点是，尽管最近几个季度利润率和毛利润有所增加，但在从事该业务这么长时间后，它在历史上从未盈利过。近年来，其运营亏损仅从2018年的-6亿美元扩大到2020年的-11.7亿美元，并在过去12个月扩大到-12.2亿美元。这是由于过度的股票薪酬计划导致费用增加和大规模稀释，这是许多多头往往忽视的。我们不要忘记，该公司上季度与SBC计划相关的费用同比增长了约257%，达到1.93亿美元。与此同时，Palantir已拥有18亿股流通股，较去年年底的15.2亿股有所增加。问题是，过度的SBC计划将继续成为公司投资者的一个主要问题，因为仍有4.77亿份期权尚未行使，如果完全行使，将使现有股东稀释20%以上。</blockquote></p><p> For that reason, we continue to believe that Palantir’s stock will continue to be an unattractive investment and it’ll likely continue to underperform the market. It’s already down ~15% since our bearisharticlewas published a month ago and we believe that there’s more room for a depreciation.</p><p><blockquote>因此，我们仍然认为Palantir的股票将继续是一项没有吸引力的投资，并且可能会继续跑输市场。自一个月前我们的看跌文章发表以来，它已经下跌了约15%，我们认为还有更大的贬值空间。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/facca499bd702a4193cac4eabbe4a9a2\" tg-width=\"1280\" tg-height=\"443\" referrerpolicy=\"no-referrer\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p></p><p> Another reason to be bearish about Palantir is due to the fact that there’s an extreme selling pressure, which is created by the company’s insiders and its CEO in particular, who are constantly dumping their shares on an open market. In July alone insiderssoldin total $63 million worth of Palantir shares, which is only $31 million slightly less than what they sold in Q1 when the lockup period expired. Considering this and the fact that they still have ~10% ownership stake in the company, it’s safe to assume they’ll continue to sell their shares and create an even greater selling pressure, which is likely going to prevent the stock from significantly appreciating from the current levels.</p><p><blockquote>看跌Palantir的另一个原因是存在巨大的抛售压力，这是由公司内部人士，尤其是首席执行官造成的，他们不断在公开市场上抛售股票。仅在7月份，内部人士就出售了总价值6300万美元的Palantir股票，仅比第一季度禁售期到期时出售的股票略少3100万美元。考虑到这一点以及他们仍持有该公司约10%的股权这一事实，可以肯定的是，他们将继续出售股票并造成更大的抛售压力，这可能会阻止该股大幅升值从当前水平。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> We created a discounted cash flow model to find Palantir’s fair value. The weighted average cost of capital in our model is 6%, while the terminal growth rate is 3%.</p><p><blockquote>我们创建了一个贴现现金流模型来查找Palantir的公允价值。我们模型中的加权平均资本成本为6%，而终端增长率为3%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb588ed877784db58cfe10b7d49d6dae\" tg-width=\"772\" tg-height=\"390\" referrerpolicy=\"no-referrer\"><span>Source: Capital IQ, Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Capital IQ，自己的估计</span></p></blockquote></p><p> After doing all the necessary calculations, our DCF model showed that Palantir’s fair value is $8.47 per share, which represents a downside of over 60% from the current market price.</p><p><blockquote>在进行所有必要的计算后，我们的DCF模型显示Palantir的公允价值为每股8.47美元，较当前市场价格下跌超过60%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9988abd16861dfad80d5febd22b2c1fb\" tg-width=\"404\" tg-height=\"368\" referrerpolicy=\"no-referrer\"><span>Source: Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：自己的估计</span></p></blockquote></p><p> For relative valuation, we compared Palantir to eight other companies from the tech industry and the SaaS niche in particular. By looking at the numbers below, we could safely say that Palantir is extremely overvalued to others, especially since its EBITDA margin of -72.8% is the worst among its peers, and at a market cap of ~$40 billion, its stock is overpriced.</p><p><blockquote>对于相对估值，我们将Palantir与来自科技行业，特别是SaaS利基市场的其他八家公司进行了比较。通过查看下面的数字，我们可以有把握地说，Palantir对其他人来说被严重高估，特别是因为其EBITDA利润率为-72.8%，是同行中最差的，而且市值约为400亿美元，其股票定价过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70de8f9f7b52ae29d77492ed21083982\" tg-width=\"751\" tg-height=\"335\" referrerpolicy=\"no-referrer\"><span>Source: Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Capital IQ</span></p></blockquote></p><p> By consolidating the DCF model and the relative valuation method and giving the former 75% weight in the final analysis, while giving the latter 25$ weight in the final analysis, we concluded that Palantir’s final fair value is $8.22 per share, which is significantly below its current market price of ~$22 per share.</p><p><blockquote>通过合并DCF模型和相对估值法，并在最终分析中给予前者75%的权重，而在最终分析中给予后者25美元的权重，我们得出的结论是，Palantir的最终公允价值为每股8.22美元，明显低于其目前的市场价格约为每股22美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05db90bdfb26c691331c9cdede01a87b\" tg-width=\"595\" tg-height=\"297\" referrerpolicy=\"no-referrer\"><span>Source: Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：自己的估计</span></p></blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Despite its advanced data software solutions, Palantir continues to be an unattractive investment in our opinion and its stock is unlikely to move significantly higher anytime soon. The company doesn’t have a unique proposition at an affordable price on the market and there’s every reason to believe that its expenses will continue to increase in the following years due to the higher inflation and increased competition, while its bottom line will continue to suffer. As a result, despite signing new multi-million contracts from time to time, it’s still hard to justify its ~$40 billion market cap. Considering this, we strongly believe that Palantir is not a value investment at this stage, and not a growth play as well since the dilution risk and the continuous selling pressure are likely going to prevent the appreciation of its stock anytime soon.</p><p><blockquote>尽管Palantir拥有先进的数据软件解决方案，但我们认为Palantir仍然是一项没有吸引力的投资，其股价不太可能很快大幅走高。该公司在市场上没有一个价格实惠的独特主张，而且有充分的理由相信，由于通胀上升和竞争加剧，其费用在未来几年将继续增加，而其利润将继续下降。遭受。因此，尽管不时签署数百万美元的新合同，但仍然很难证明其约400亿美元的市值是合理的。考虑到这一点，我们坚信Palantir现阶段不是价值投资，也不是成长型投资，因为稀释风险和持续的抛售压力可能会很快阻止其股票升值。</blockquote></p><p> While we don’t expect the stock to depreciate to its fair value of $8.22 per share in the foreseeable future, a decent decline from the current market price is more than possible, especially since the company already trades at 28 times its revenues and is considered to be overvalued. For that reason, we stick to our opinion that Palantir’s upside appears to be limited and its future growth is already priced in.</p><p><blockquote>虽然我们预计该股在可预见的未来不会贬值至每股8.22美元的公允价值，但较当前市场价格大幅下跌的可能性很大，特别是因为该公司的交易价格已经是其收入的28倍，并且被认为被高估了。因此，我们坚持认为Palantir的上涨空间似乎有限，其未来增长已经被消化。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4441334-palantir-prepare-to-be-disappointed\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4441334-palantir-prepare-to-be-disappointed","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139478455","content_text":"Summary\n\nWe continue to believe that Palantir’s upside appears to be limited and its future growth is already priced in.\nOur analysis shows that Palantir’s fair value is $8.22 per share, which represents a downside of over 60% from the current market price.\nThe dilution risk and the continuous selling pressure are likely going to prevent the appreciation of Palantir’s stock anytime soon.\n\nKevin Dietsch/Getty Images News\nPalantir (PLTR) has been underperforming the market in recent weeks and we believe that its stock still has more room to fall. Our analysis shows that Palantir is extremely overvalued at the current levels and several issues are likely going to prevent its stock from appreciating further anytime soon. For that reason, we continue to believe that it’s better to avoid Palantir at the current price, as its upside appears to be limited.\nThere Are Several Red Flags, Which You Shouldn’t Ignore\nPalantir specializes in creating custom software solutions for collecting data for its clients, who are mostly government agencies and public companies. While some might think that Palantir is a young company with lots of potential, the reality is that it’s not a startup, as it has been in the business for almost two decades already, and since that time it has managed to add less than 200 customers. As a result, the company is exposed to a limited pool of organizations, who generate most of the revenues. This is mostly because Palantir doesn’t have a scalable business. The value of the company’s average contract ranges from $5 million to $6 million, which prevents small and medium businesses from using its services. While Palantir tries to tackle this issue by offering its Foundry platform for the commercial sector at attractive terms, it’s still too soon to tell whether it will improve its affordability to most of the third parties and have any major impact on its financials in the long run.\nIn addition, while bulls might want to deny this, but Palantir operates like a consulting company. The company has a special position of a forward-deployed engineer, who analyzes different processes of potential clients and then explains how Palantir’s software could help them improve their operations. Considering this, it’s safe to say that Palantir doesn’t have a unique business model since its whole proposition is that it can analyze the available data better than others. However, nothing stops new entrants from entering the field and offering similar solutions, and nothing stops organizations' internal IT departments from developing better tools to analyze all of the processes at a more affordable price.\nAnother downside of Palantir is that despite the increase in margins and gross profit in recent quarters, it never made a profit in its history after being so long in the business. Its operating loss has onlywidenedin recent years from -$600 million in 2018 to -$1.17 billion in 2020, to -$1.22 billion in the last twelve months. This is due to the excessive stock-based compensation program that results in increased expenses and massive dilution, which is something that a lot of bulls tend to ignore. Let’s not forget that the company’s expenses relating to the SBC program increased by around 257% year over year last quarter and were $193 million. At the same time, Palantir already has 1.8 billion shares outstanding, an increase from 1.52 billion shares, which were outstanding at the end of last year. The problem is that the excessive SBC program will continue to be a major issue for the company’s investors since there are still 477 million optionsoutstanding, which will dilute the current shareholders by more than 20% if fully exercised.\nFor that reason, we continue to believe that Palantir’s stock will continue to be an unattractive investment and it’ll likely continue to underperform the market. It’s already down ~15% since our bearisharticlewas published a month ago and we believe that there’s more room for a depreciation.\nChart: Seeking Alpha\nAnother reason to be bearish about Palantir is due to the fact that there’s an extreme selling pressure, which is created by the company’s insiders and its CEO in particular, who are constantly dumping their shares on an open market. In July alone insiderssoldin total $63 million worth of Palantir shares, which is only $31 million slightly less than what they sold in Q1 when the lockup period expired. Considering this and the fact that they still have ~10% ownership stake in the company, it’s safe to assume they’ll continue to sell their shares and create an even greater selling pressure, which is likely going to prevent the stock from significantly appreciating from the current levels.\nValuation\nWe created a discounted cash flow model to find Palantir’s fair value. The weighted average cost of capital in our model is 6%, while the terminal growth rate is 3%.\nSource: Capital IQ, Own estimates\nAfter doing all the necessary calculations, our DCF model showed that Palantir’s fair value is $8.47 per share, which represents a downside of over 60% from the current market price.\nSource: Own estimates\nFor relative valuation, we compared Palantir to eight other companies from the tech industry and the SaaS niche in particular. By looking at the numbers below, we could safely say that Palantir is extremely overvalued to others, especially since its EBITDA margin of -72.8% is the worst among its peers, and at a market cap of ~$40 billion, its stock is overpriced.\nSource: Capital IQ\nBy consolidating the DCF model and the relative valuation method and giving the former 75% weight in the final analysis, while giving the latter 25$ weight in the final analysis, we concluded that Palantir’s final fair value is $8.22 per share, which is significantly below its current market price of ~$22 per share.\nSource: Own estimates\nTakeaway\nDespite its advanced data software solutions, Palantir continues to be an unattractive investment in our opinion and its stock is unlikely to move significantly higher anytime soon. The company doesn’t have a unique proposition at an affordable price on the market and there’s every reason to believe that its expenses will continue to increase in the following years due to the higher inflation and increased competition, while its bottom line will continue to suffer. As a result, despite signing new multi-million contracts from time to time, it’s still hard to justify its ~$40 billion market cap. Considering this, we strongly believe that Palantir is not a value investment at this stage, and not a growth play as well since the dilution risk and the continuous selling pressure are likely going to prevent the appreciation of its stock anytime soon.\nWhile we don’t expect the stock to depreciate to its fair value of $8.22 per share in the foreseeable future, a decent decline from the current market price is more than possible, especially since the company already trades at 28 times its revenues and is considered to be overvalued. For that reason, we stick to our opinion that Palantir’s upside appears to be limited and its future growth is already priced in.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":2343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177232751,"gmtCreate":1627221421873,"gmtModify":1631891540050,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Hopeful!!","listText":"Hopeful!!","text":"Hopeful!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/177232751","repostId":"2153936352","repostType":4,"isVote":1,"tweetType":1,"viewCount":2553,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174736808,"gmtCreate":1627137706704,"gmtModify":1631891540053,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Izzit too late to buy now?","listText":"Izzit too late to buy now?","text":"Izzit too late to buy now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/174736808","repostId":"2153989989","repostType":4,"isVote":1,"tweetType":1,"viewCount":2589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174738042,"gmtCreate":1627137530586,"gmtModify":1631891540057,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Y savvy move stock nv climb?","listText":"Y savvy move stock nv climb?","text":"Y savvy move stock nv climb?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/174738042","repostId":"1109439356","repostType":4,"isVote":1,"tweetType":1,"viewCount":1477,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174041573,"gmtCreate":1627054234592,"gmtModify":1631891540055,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Izzit too late to jump in now?","listText":"Izzit too late to jump in now?","text":"Izzit too late to jump in now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/174041573","repostId":"1152547448","repostType":4,"isVote":1,"tweetType":1,"viewCount":3055,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172693185,"gmtCreate":1626957025847,"gmtModify":1631891540057,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Go Elon go","listText":"Go Elon go","text":"Go Elon go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172693185","repostId":"1127427732","repostType":4,"repost":{"id":"1127427732","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":1626954531,"share":"https://www.laohu8.com/m/news/1127427732?lang=zh_CN&edition=full","pubTime":"2021-07-22 19:48","market":"us","language":"en","title":"Toplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127427732","media":"Tiger Newspress","summary":"(Julr 22) Stock futures advanced on Thursday, with investors looking to earnings and data for impetu","content":"<p>(Julr&nbsp;22)&nbsp;Stock futures advanced on Thursday, with investors looking to earnings and data for impetus to extend a 2-day rally that wiped out losses sustained during the worst trading day of 2021.</p><p><blockquote>（7月22日）股指期货周四上涨，投资者寻求收益和数据的动力，以延续两天的涨势，抹去了2021年最糟糕交易日的跌幅。</blockquote></p><p> At 7:54 a.m. ET, Dow E-minis were up 47 points, or 0.14%, S&amp;P 500 E-minis were up 6.5&nbsp;points, or 0.15% and Nasdaq 100 E-minis rose 28.75 points, or 0.19%.&nbsp;</p><p><blockquote>截至美国东部时间上午7:54，道指E-minis上涨47点，涨幅0.14%，标普500 E-minis上涨6.5点，涨幅0.15%，纳斯达克100 E-minis上涨28.75点，涨幅0.19%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6f0ee7363c9fe8efde482515ffff79ac\" tg-width=\"1242\" tg-height=\"538\" referrerpolicy=\"no-referrer\">The turnaround from the Monday selloff shows “corporations have been very resilient through all this,”&nbsp;David Mazza, Direxion head of product, said on Bloomberg Television. “Earnings estimates are quite remarkable, probably some of the best on record. Even through all this, we have central-bank liquidity remaining very abundant, economic growth being robust.”</p><p><blockquote>Direxion产品主管David Mazza在彭博电视台表示，周一抛售的好转表明“企业在这一切中表现得非常有弹性”。“盈利预期相当出色，可能是有记录以来最好的之一。尽管如此，我们的央行流动性仍然非常充裕，经济增长强劲。”</blockquote></p><p> Energy and mega-cap tech stocks gained ahead of a new batch of earnings reports, the latest initial claims data and the first ECB meeting to incorporate the bank's new strategic review.&nbsp;Energy stocks Chevron Corp, Exxon Mobil, Schlumberger NV, Occidental Petroleum and Marathon Petroleum Corp climbed between 0.1% and 1%, tracking crude prices.</p><p><blockquote>在新一批收益报告、最新的首次申请失业救济数据以及欧洲央行首次会议纳入该行新的战略评估之前，能源股和大型科技股上涨。能源股雪佛龙公司、埃克森美孚公司、斯伦贝谢公司、西方石油公司和马拉松石油公司上涨0.1%至1%，跟踪原油价格。</blockquote></p><p> Some other notable pre-market movers:</p><p><blockquote>其他一些值得注意的盘前推动者：</blockquote></p><p> <ul>  <li>Didi Global (DIDI) drops 3% in&nbsp;premarket&nbsp;trading after people familiar with the matter said Chinese regulators are considering serious, perhaps unprecedented, penalties for for the ride-hailing giant after its controversial initial public offering last month.</li>  <li>Texas Instruments (TXN) drops 4.8% after third-quarter sales and profit forecasts left analysts disappointed, with Barclays saying the “flat outlook leaves little to live for this late in the cycle.”</li>  <li>AT&amp;T (T) added 0.9% as the telecom operator beat analysts’ estimates for monthly phone bill paying subscriber additions in the second quarter, fueled by more Americans converting to 5G phones.</li>  <li>Dow (DOW) rose 1.3% after its second-quarter profit doubled from the first, as prices for its chemicals used in plastics and packaging rose on the back of strong consumer and industrial demand as well as lower inventories.</li>  <li><a href=\"https://laohu8.com/S/CEMI\">Chembio Diagnostics</a> (CEMI) gains 9.9% and <a href=\"https://laohu8.com/S/NURO\">NeuroMetrix</a> (NURO) surges 33% amid discussions on message boards at Reddit and StockTwits.</li> </ul> Elsewhere, the Labor Department’s report, due at 8:30 a.m. ET, is expected to show the number of Americans filing new claims for unemployment benefits fell to 350K (from 360K) for the week ended July 17, amid rampant worker shortages. Investors have been closely following the health of the jobs market on which monetary policy hinges, especially after a series of higher inflation reading recently sparked fears about a sooner-than expected paring of policy support as the economy reopens.</p><p><blockquote><ul><li>滴滴出行(DIDI)在盘前交易中下跌3%，此前知情人士表示，中国监管机构正在考虑对这家网约车巨头在上个月备受争议的首次公开募股后实施严厉的、或许是前所未有的处罚。</li><li>德州仪器(TXN)第三季度销售和利润预测令分析师失望，股价下跌4.8%，巴克莱银行表示“前景平淡，在周期后期几乎没有什么可生存的了”。</li><li>AT&amp;T(T)股价上涨0.9%，由于更多美国人转向5G手机，该电信运营商第二季度每月电话费支付用户数量超出了分析师的预期。</li><li>陶氏化学(DOW)第二季度利润较第一季度翻倍，上涨1.3%，因消费者和工业需求强劲以及库存下降导致其用于塑料和包装的化学品价格上涨。</li><li><a href=\"https://laohu8.com/S/CEMI\">化学诊断学</a>(CEMI)上涨9.9%<a href=\"https://laohu8.com/S/NURO\">神经度量</a>在Reddit和StockTwits留言板上的讨论中，(NURO)飙升33%。</li></ul>在其他地方，劳工部将于美国东部时间上午8:30发布的报告预计将显示，由于工人严重短缺，截至7月17日当周，美国新申请失业救济的人数从36万降至35万。投资者一直在密切关注货币政策所依赖的就业市场的健康状况，特别是在最近一系列较高的通胀数据引发了人们对经济重新开放时政策支持将比预期更早削减的担忧之后。</blockquote></p><p> Bitcoin briefly rose above $32,000 after getting a boost from Elon Musk, who said his space exploration company SpaceX owns the digital token.</p><p><blockquote>在获得埃隆·马斯克(Elon Musk)的提振后，比特币股价短暂升破32,000美元，埃隆·马斯克表示，他的太空探索公司SpaceX拥有该数字代币。</blockquote></p><p> In commodities oil hung on to most of Wednesday's sharp price rise, its biggest one-day gain in three months. Brent crude futures were last 0.4% softer at $71.94 a barrel, but had gained more than 4% on Wednesday. Gold was steady at $1,801 an ounce and cryptocurrencies were firm after bouncing from lows when Tesla boss Elon Musk said the carmaker would likely restart accepting bitcoin payments after due diligence on its energy use.</p><p><blockquote>大宗商品方面，石油延续了周三价格大幅上涨的大部分时间，创下三个月来最大单日涨幅。布伦特原油期货最近下跌0.4%，至每桶71.94美元，但周三上涨超过4%。金价稳定在每盎司1,801美元，加密货币在从低点反弹后坚挺，当时特斯拉老板Elon Musk表示，在对其能源使用进行尽职调查后，该汽车制造商可能会重新开始接受比特币付款。</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 Thursday<blockquote>周四美国市场开盘前的营收</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\">\nToplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</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\">2021-07-22 19:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Julr&nbsp;22)&nbsp;Stock futures advanced on Thursday, with investors looking to earnings and data for impetus to extend a 2-day rally that wiped out losses sustained during the worst trading day of 2021.</p><p><blockquote>（7月22日）股指期货周四上涨，投资者寻求收益和数据的动力，以延续两天的涨势，抹去了2021年最糟糕交易日的跌幅。</blockquote></p><p> At 7:54 a.m. ET, Dow E-minis were up 47 points, or 0.14%, S&amp;P 500 E-minis were up 6.5&nbsp;points, or 0.15% and Nasdaq 100 E-minis rose 28.75 points, or 0.19%.&nbsp;</p><p><blockquote>截至美国东部时间上午7:54，道指E-minis上涨47点，涨幅0.14%，标普500 E-minis上涨6.5点，涨幅0.15%，纳斯达克100 E-minis上涨28.75点，涨幅0.19%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6f0ee7363c9fe8efde482515ffff79ac\" tg-width=\"1242\" tg-height=\"538\" referrerpolicy=\"no-referrer\">The turnaround from the Monday selloff shows “corporations have been very resilient through all this,”&nbsp;David Mazza, Direxion head of product, said on Bloomberg Television. “Earnings estimates are quite remarkable, probably some of the best on record. Even through all this, we have central-bank liquidity remaining very abundant, economic growth being robust.”</p><p><blockquote>Direxion产品主管David Mazza在彭博电视台表示，周一抛售的好转表明“企业在这一切中表现得非常有弹性”。“盈利预期相当出色，可能是有记录以来最好的之一。尽管如此，我们的央行流动性仍然非常充裕，经济增长强劲。”</blockquote></p><p> Energy and mega-cap tech stocks gained ahead of a new batch of earnings reports, the latest initial claims data and the first ECB meeting to incorporate the bank's new strategic review.&nbsp;Energy stocks Chevron Corp, Exxon Mobil, Schlumberger NV, Occidental Petroleum and Marathon Petroleum Corp climbed between 0.1% and 1%, tracking crude prices.</p><p><blockquote>在新一批收益报告、最新的首次申请失业救济数据以及欧洲央行首次会议纳入该行新的战略评估之前，能源股和大型科技股上涨。能源股雪佛龙公司、埃克森美孚公司、斯伦贝谢公司、西方石油公司和马拉松石油公司上涨0.1%至1%，跟踪原油价格。</blockquote></p><p> Some other notable pre-market movers:</p><p><blockquote>其他一些值得注意的盘前推动者：</blockquote></p><p> <ul>  <li>Didi Global (DIDI) drops 3% in&nbsp;premarket&nbsp;trading after people familiar with the matter said Chinese regulators are considering serious, perhaps unprecedented, penalties for for the ride-hailing giant after its controversial initial public offering last month.</li>  <li>Texas Instruments (TXN) drops 4.8% after third-quarter sales and profit forecasts left analysts disappointed, with Barclays saying the “flat outlook leaves little to live for this late in the cycle.”</li>  <li>AT&amp;T (T) added 0.9% as the telecom operator beat analysts’ estimates for monthly phone bill paying subscriber additions in the second quarter, fueled by more Americans converting to 5G phones.</li>  <li>Dow (DOW) rose 1.3% after its second-quarter profit doubled from the first, as prices for its chemicals used in plastics and packaging rose on the back of strong consumer and industrial demand as well as lower inventories.</li>  <li><a href=\"https://laohu8.com/S/CEMI\">Chembio Diagnostics</a> (CEMI) gains 9.9% and <a href=\"https://laohu8.com/S/NURO\">NeuroMetrix</a> (NURO) surges 33% amid discussions on message boards at Reddit and StockTwits.</li> </ul> Elsewhere, the Labor Department’s report, due at 8:30 a.m. ET, is expected to show the number of Americans filing new claims for unemployment benefits fell to 350K (from 360K) for the week ended July 17, amid rampant worker shortages. Investors have been closely following the health of the jobs market on which monetary policy hinges, especially after a series of higher inflation reading recently sparked fears about a sooner-than expected paring of policy support as the economy reopens.</p><p><blockquote><ul><li>滴滴出行(DIDI)在盘前交易中下跌3%，此前知情人士表示，中国监管机构正在考虑对这家网约车巨头在上个月备受争议的首次公开募股后实施严厉的、或许是前所未有的处罚。</li><li>德州仪器(TXN)第三季度销售和利润预测令分析师失望，股价下跌4.8%，巴克莱银行表示“前景平淡，在周期后期几乎没有什么可生存的了”。</li><li>AT&amp;T(T)股价上涨0.9%，由于更多美国人转向5G手机，该电信运营商第二季度每月电话费支付用户数量超出了分析师的预期。</li><li>陶氏化学(DOW)第二季度利润较第一季度翻倍，上涨1.3%，因消费者和工业需求强劲以及库存下降导致其用于塑料和包装的化学品价格上涨。</li><li><a href=\"https://laohu8.com/S/CEMI\">化学诊断学</a>(CEMI)上涨9.9%<a href=\"https://laohu8.com/S/NURO\">神经度量</a>在Reddit和StockTwits留言板上的讨论中，(NURO)飙升33%。</li></ul>在其他地方，劳工部将于美国东部时间上午8:30发布的报告预计将显示，由于工人严重短缺，截至7月17日当周，美国新申请失业救济的人数从36万降至35万。投资者一直在密切关注货币政策所依赖的就业市场的健康状况，特别是在最近一系列较高的通胀数据引发了人们对经济重新开放时政策支持将比预期更早削减的担忧之后。</blockquote></p><p> Bitcoin briefly rose above $32,000 after getting a boost from Elon Musk, who said his space exploration company SpaceX owns the digital token.</p><p><blockquote>在获得埃隆·马斯克(Elon Musk)的提振后，比特币股价短暂升破32,000美元，埃隆·马斯克表示，他的太空探索公司SpaceX拥有该数字代币。</blockquote></p><p> In commodities oil hung on to most of Wednesday's sharp price rise, its biggest one-day gain in three months. Brent crude futures were last 0.4% softer at $71.94 a barrel, but had gained more than 4% on Wednesday. Gold was steady at $1,801 an ounce and cryptocurrencies were firm after bouncing from lows when Tesla boss Elon Musk said the carmaker would likely restart accepting bitcoin payments after due diligence on its energy use.</p><p><blockquote>大宗商品方面，石油延续了周三价格大幅上涨的大部分时间，创下三个月来最大单日涨幅。布伦特原油期货最近下跌0.4%，至每桶71.94美元，但周三上涨超过4%。金价稳定在每盎司1,801美元，加密货币在从低点反弹后坚挺，当时特斯拉老板Elon Musk表示，在对其能源使用进行尽职调查后，该汽车制造商可能会重新开始接受比特币付款。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127427732","content_text":"(Julr 22) Stock futures advanced on Thursday, with investors looking to earnings and data for impetus to extend a 2-day rally that wiped out losses sustained during the worst trading day of 2021.\nAt 7:54 a.m. ET, Dow E-minis were up 47 points, or 0.14%, S&P 500 E-minis were up 6.5 points, or 0.15% and Nasdaq 100 E-minis rose 28.75 points, or 0.19%. \nThe turnaround from the Monday selloff shows “corporations have been very resilient through all this,” David Mazza, Direxion head of product, said on Bloomberg Television. “Earnings estimates are quite remarkable, probably some of the best on record. Even through all this, we have central-bank liquidity remaining very abundant, economic growth being robust.”\nEnergy and mega-cap tech stocks gained ahead of a new batch of earnings reports, the latest initial claims data and the first ECB meeting to incorporate the bank's new strategic review. Energy stocks Chevron Corp, Exxon Mobil, Schlumberger NV, Occidental Petroleum and Marathon Petroleum Corp climbed between 0.1% and 1%, tracking crude prices.\nSome other notable pre-market movers:\n\nDidi Global (DIDI) drops 3% in premarket trading after people familiar with the matter said Chinese regulators are considering serious, perhaps unprecedented, penalties for for the ride-hailing giant after its controversial initial public offering last month.\nTexas Instruments (TXN) drops 4.8% after third-quarter sales and profit forecasts left analysts disappointed, with Barclays saying the “flat outlook leaves little to live for this late in the cycle.”\nAT&T (T) added 0.9% as the telecom operator beat analysts’ estimates for monthly phone bill paying subscriber additions in the second quarter, fueled by more Americans converting to 5G phones.\nDow (DOW) rose 1.3% after its second-quarter profit doubled from the first, as prices for its chemicals used in plastics and packaging rose on the back of strong consumer and industrial demand as well as lower inventories.\nChembio Diagnostics (CEMI) gains 9.9% and NeuroMetrix (NURO) surges 33% amid discussions on message boards at Reddit and StockTwits.\n\nElsewhere, the Labor Department’s report, due at 8:30 a.m. ET, is expected to show the number of Americans filing new claims for unemployment benefits fell to 350K (from 360K) for the week ended July 17, amid rampant worker shortages. Investors have been closely following the health of the jobs market on which monetary policy hinges, especially after a series of higher inflation reading recently sparked fears about a sooner-than expected paring of policy support as the economy reopens.\nBitcoin briefly rose above $32,000 after getting a boost from Elon Musk, who said his space exploration company SpaceX owns the digital token.\nIn commodities oil hung on to most of Wednesday's sharp price rise, its biggest one-day gain in three months. Brent crude futures were last 0.4% softer at $71.94 a barrel, but had gained more than 4% on Wednesday. Gold was steady at $1,801 an ounce and cryptocurrencies were firm after bouncing from lows when Tesla boss Elon Musk said the carmaker would likely restart accepting bitcoin payments after due diligence on its energy use.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171445114,"gmtCreate":1626759989538,"gmtModify":1631891540061,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"My eyes has tuned n got used to the permanent reds of my portfolio","listText":"My eyes has tuned n got used to the permanent reds of my portfolio","text":"My eyes has tuned n got used to the permanent reds of my portfolio","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/171445114","repostId":"1149818409","repostType":4,"repost":{"id":"1149818409","kind":"news","pubTimestamp":1626746165,"share":"https://www.laohu8.com/m/news/1149818409?lang=zh_CN&edition=full","pubTime":"2021-07-20 09:56","market":"us","language":"en","title":"Is This the Long-Awaited Stock Market Crash?<blockquote>这是期待已久的股灾吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149818409","media":"Motley Fool","summary":"Investors are always trying to anticipate the next stock market crash. Those searching for signs of ","content":"<p>Investors are always trying to anticipate the next stock market crash. Those searching for signs of the next major downturn for the market got some evidence supporting the idea that it could come sooner rather than later, with investors continuing to worry about the sharp increase in COVID-19 cases in the U.S. and in other areas of the world. As of 11:15 a.m. EDT, the&nbsp;<b>Dow Jones Industrial Average</b>(DJINDICES:^DJI)was down 767 points to 33,921. The&nbsp;<b>S&amp;P 500</b>(SNPINDEX:^GSPC)had dropped 65 points to 4,262, and the&nbsp;<b>Nasdaq Composite</b>(NASDAQINDEX:^IXIC)was lower by 143 points to 14,284.</p><p><blockquote>投资者总是试图预测下一次股市崩盘。那些寻找市场下一次重大低迷迹象的人得到了一些证据支持这样一种观点，即它可能来得早而不是晚，投资者继续担心美国和世界其他地区的COVID-19病例急剧增加。截至美国东部时间上午11:15，<b>道琼斯工业平均指数</b>(DJINDICES：^DJI)下跌767点，至33,921点。The<b>标普500</b>(SNPINDEX：^GSPC)下跌65点至4,262点，而<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）下跌143点，至14,284点。</blockquote></p><p> You can always make a bearish case for why the stock market should stop going up, at least in the short run. However, investors spend too much time trying to figure out exact timing. If you're truly worried about your exposure to the stock market, then the time to take action is<i>before</i>the worst of the next bear market happens. Below, we'll take a closer look at what's hitting the market today and what response might be most appropriate.</p><p><blockquote>你总是可以悲观地解释为什么股市应该停止上涨，至少在短期内是这样。然而，投资者花了太多时间试图找出确切的时机。如果您确实担心自己在股市的敞口，那么现在是采取行动的时候了<i>以前</i>下一次熊市最糟糕的情况发生了。下面，我们将仔细看看今天市场上发生了什么，以及什么反应可能是最合适的。</blockquote></p><p> <b>Slowing down</b></p><p><blockquote><b>减速</b></blockquote></p><p> Many investors couldn't understand the huge gains that the stock market has produced over the past 15 months. Even as the global economy struggled under the weight of pandemic-caused lockdowns, the stock market reflected a level of optimism that simply didn't seem to be there yet. Eventually, vaccines led to reopenings, which in turn started to help lift the prospects for companies hit hard by the pandemic.</p><p><blockquote>许多投资者无法理解股市在过去15个月里取得的巨大涨幅。尽管全球经济在大流行导致的封锁的重压下苦苦挣扎，但股市反映出了一种似乎还没有的乐观情绪。最终，疫苗导致了重新开业，这反过来又开始帮助提升受疫情重创的公司的前景。</blockquote></p><p> Now, though, the fear among investors is that the markets have gotten ahead of themselves. As the delta variant helps stoke rising COVID-19 case counts, the idea that the pandemic would soon no longer be a major factor in the economy is starting to lose credibility.</p><p><blockquote>然而现在，投资者担心市场已经超前了。随着德尔塔变异毒株导致COVID-19病例数不断上升，这种流行病很快将不再是经济主要因素的想法开始失去可信度。</blockquote></p><p> That change of attitude is having dramatic impacts across the financial markets:</p><p><blockquote>这种态度的转变正在对整个金融市场产生巨大影响：</blockquote></p><p> <ul>  <li>Bond yields have plunged as investors seek the reliable, though minuscule, returns available from fixed income securities. Ten-year Treasury yields dropped below 1.2% Monday morning, and after having seen some upward movement in recent months, international bond yields now appear likely to remain negative in many countries throughout Europe for the foreseeable future.</li>  <li>The drop in long-term rates has hit financial stocks hard, with<b>Goldman Sachs</b>(NYSE:GS)leading big banks lower with a nearly 4% drop. Financials are playing a major role in pulling the Dow down by a larger percentage than other markets on Monday.</li>  <li>Signs ofinflationary pressureare showing early signs of potentially reversing. Crude oil fell nearly $5 per barrel on Monday, falling to $67 per barrel and causing oil-related stocks to fall.<b>Chevron</b>(NYSE:CVX)was among the Dow's weakest performers, falling more than 3% Monday morning.</li>  <li>Meanwhile, some stocks are benefiting.<b>Moderna</b>(NASDAQ:MRNA)shares rose, perhaps in anticipation ofgreater vaccine sales, while<b>Peloton Interactive</b>(NASDAQ:PTON)also gained ground as some anticipate that more fitness enthusiasts might stay home if health risk levels increase.</li> </ul> Meanwhile, cyclical stocks in areas like industrials and materials are also particularly weak. The declines are coming after a generally strong performance over the past year.</p><p><blockquote><ul><li>由于投资者寻求从固定收益证券中获得可靠但微乎其微的回报，债券收益率暴跌。周一上午，十年期国债收益率跌破1.2%，在经历了近几个月的一些上行之后，在可预见的未来，欧洲许多国家的国际债券收益率现在似乎可能保持负值。</li><li>长期利率下降重创金融股，<b>高盛</b>(NYSE：GS)领跌大银行，跌幅近4%。周一，金融股在拖累道琼斯指数跌幅方面发挥了重要作用，跌幅大于其他市场。</li><li>通胀压力的迹象显示出可能逆转的早期迹象。原油周一每桶下跌近5美元，跌至每桶67美元，并导致石油相关股票下跌。<b>雪佛龙</b>（纽约证券交易所代码：CVX）是道琼斯指数表现最弱的股票之一，周一上午下跌超过3%。</li><li>与此同时，一些股票正在受益。<b>现代</b>（纳斯达克：MRNA）股价上涨，或许是由于预期疫苗销量会增加，而<b>Peloton互动</b>（纳斯达克：PTON）也取得了进展，因为一些人预计，如果健康风险水平上升，更多的健身爱好者可能会呆在家里。</li></ul>与此同时，工业和材料等领域的周期性股票也特别疲软。这些下降是在过去一年表现普遍强劲之后发生的。</blockquote></p><p> <b>Don't panic -- but be ready for what might come next</b></p><p><blockquote><b>不要惊慌——但要为接下来可能发生的事情做好准备</b></blockquote></p><p> It's always hard to deal with market downturns, and in particular, the long-term rise in the Dow makes declines seem worse than they really are. Drops of 2% have always been commonplace on Wall Street, but with the Dow having jumped as far as it has, the inevitable \"Dow Down 700+\" headlines always look more ominous.</p><p><blockquote>应对市场低迷总是很困难的，特别是道琼斯指数的长期上涨让下跌看起来比实际情况更糟糕。下跌2%在华尔街一直是家常便饭，但随着道琼斯指数已经跳得如此之远，不可避免的“道琼斯指数下跌700+”的头条新闻看起来总是更加不祥。</blockquote></p><p> Panic-selling after a stock market crash almost never works out well, and that's why feeling comfortable with your current level of risk<i>before</i>a crash comes is so important. In particular, if you find your portfolio has a lot more invested in stocks than you thought after the big gains of the past year, it's not unreasonable to rebalance your portfolio and move some of that money out of the market before a crash. Many investors like to target certain percentages in various asset classes, and it's smart to periodically check in on your holdings to make sure gains in one area and losses in another haven't thrown your portfolio out of whack.</p><p><blockquote>股市崩盘后的恐慌性抛售几乎永远不会有好结果，这就是为什么对当前的风险水平感到满意<i>以前</i>崩溃的到来是如此重要。特别是，如果您发现在过去一年的大幅上涨之后，您的投资组合在股票上的投资比您想象的要多得多，那么在崩盘之前重新平衡您的投资组合并将部分资金撤出市场并非没有道理。许多投资者喜欢在各种资产类别中设定一定比例的目标，明智的做法是定期检查您的持股，以确保一个领域的收益和另一个领域的损失不会使您的投资组合陷入混乱。</blockquote></p><p> Monday morning's downward move doesn't count as a crash. That doesn't mean there won't be one later today, tomorrow, next week, or later this year. Regardless, though,having an investing strategythat acknowledges the inevitable fact that a crash will come at some point will definitely help you whenever that fateful day finally does arrive.</p><p><blockquote>周一上午的下跌不算崩盘。这并不意味着今天晚些时候、明天、下周或今年晚些时候不会有。不过，无论如何，拥有一个承认崩盘将在某个时候到来这一不可避免的事实的投资策略肯定会在那决定性的一天最终到来时对你有所帮助。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is This the Long-Awaited Stock Market Crash?<blockquote>这是期待已久的股灾吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs This the Long-Awaited Stock Market Crash?<blockquote>这是期待已久的股灾吗？</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\">2021-07-20 09:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Investors are always trying to anticipate the next stock market crash. Those searching for signs of the next major downturn for the market got some evidence supporting the idea that it could come sooner rather than later, with investors continuing to worry about the sharp increase in COVID-19 cases in the U.S. and in other areas of the world. As of 11:15 a.m. EDT, the&nbsp;<b>Dow Jones Industrial Average</b>(DJINDICES:^DJI)was down 767 points to 33,921. The&nbsp;<b>S&amp;P 500</b>(SNPINDEX:^GSPC)had dropped 65 points to 4,262, and the&nbsp;<b>Nasdaq Composite</b>(NASDAQINDEX:^IXIC)was lower by 143 points to 14,284.</p><p><blockquote>投资者总是试图预测下一次股市崩盘。那些寻找市场下一次重大低迷迹象的人得到了一些证据支持这样一种观点，即它可能来得早而不是晚，投资者继续担心美国和世界其他地区的COVID-19病例急剧增加。截至美国东部时间上午11:15，<b>道琼斯工业平均指数</b>(DJINDICES：^DJI)下跌767点，至33,921点。The<b>标普500</b>(SNPINDEX：^GSPC)下跌65点至4,262点，而<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）下跌143点，至14,284点。</blockquote></p><p> You can always make a bearish case for why the stock market should stop going up, at least in the short run. However, investors spend too much time trying to figure out exact timing. If you're truly worried about your exposure to the stock market, then the time to take action is<i>before</i>the worst of the next bear market happens. Below, we'll take a closer look at what's hitting the market today and what response might be most appropriate.</p><p><blockquote>你总是可以悲观地解释为什么股市应该停止上涨，至少在短期内是这样。然而，投资者花了太多时间试图找出确切的时机。如果您确实担心自己在股市的敞口，那么现在是采取行动的时候了<i>以前</i>下一次熊市最糟糕的情况发生了。下面，我们将仔细看看今天市场上发生了什么，以及什么反应可能是最合适的。</blockquote></p><p> <b>Slowing down</b></p><p><blockquote><b>减速</b></blockquote></p><p> Many investors couldn't understand the huge gains that the stock market has produced over the past 15 months. Even as the global economy struggled under the weight of pandemic-caused lockdowns, the stock market reflected a level of optimism that simply didn't seem to be there yet. Eventually, vaccines led to reopenings, which in turn started to help lift the prospects for companies hit hard by the pandemic.</p><p><blockquote>许多投资者无法理解股市在过去15个月里取得的巨大涨幅。尽管全球经济在大流行导致的封锁的重压下苦苦挣扎，但股市反映出了一种似乎还没有的乐观情绪。最终，疫苗导致了重新开业，这反过来又开始帮助提升受疫情重创的公司的前景。</blockquote></p><p> Now, though, the fear among investors is that the markets have gotten ahead of themselves. As the delta variant helps stoke rising COVID-19 case counts, the idea that the pandemic would soon no longer be a major factor in the economy is starting to lose credibility.</p><p><blockquote>然而现在，投资者担心市场已经超前了。随着德尔塔变异毒株导致COVID-19病例数不断上升，这种流行病很快将不再是经济主要因素的想法开始失去可信度。</blockquote></p><p> That change of attitude is having dramatic impacts across the financial markets:</p><p><blockquote>这种态度的转变正在对整个金融市场产生巨大影响：</blockquote></p><p> <ul>  <li>Bond yields have plunged as investors seek the reliable, though minuscule, returns available from fixed income securities. Ten-year Treasury yields dropped below 1.2% Monday morning, and after having seen some upward movement in recent months, international bond yields now appear likely to remain negative in many countries throughout Europe for the foreseeable future.</li>  <li>The drop in long-term rates has hit financial stocks hard, with<b>Goldman Sachs</b>(NYSE:GS)leading big banks lower with a nearly 4% drop. Financials are playing a major role in pulling the Dow down by a larger percentage than other markets on Monday.</li>  <li>Signs ofinflationary pressureare showing early signs of potentially reversing. Crude oil fell nearly $5 per barrel on Monday, falling to $67 per barrel and causing oil-related stocks to fall.<b>Chevron</b>(NYSE:CVX)was among the Dow's weakest performers, falling more than 3% Monday morning.</li>  <li>Meanwhile, some stocks are benefiting.<b>Moderna</b>(NASDAQ:MRNA)shares rose, perhaps in anticipation ofgreater vaccine sales, while<b>Peloton Interactive</b>(NASDAQ:PTON)also gained ground as some anticipate that more fitness enthusiasts might stay home if health risk levels increase.</li> </ul> Meanwhile, cyclical stocks in areas like industrials and materials are also particularly weak. The declines are coming after a generally strong performance over the past year.</p><p><blockquote><ul><li>由于投资者寻求从固定收益证券中获得可靠但微乎其微的回报，债券收益率暴跌。周一上午，十年期国债收益率跌破1.2%，在经历了近几个月的一些上行之后，在可预见的未来，欧洲许多国家的国际债券收益率现在似乎可能保持负值。</li><li>长期利率下降重创金融股，<b>高盛</b>(NYSE：GS)领跌大银行，跌幅近4%。周一，金融股在拖累道琼斯指数跌幅方面发挥了重要作用，跌幅大于其他市场。</li><li>通胀压力的迹象显示出可能逆转的早期迹象。原油周一每桶下跌近5美元，跌至每桶67美元，并导致石油相关股票下跌。<b>雪佛龙</b>（纽约证券交易所代码：CVX）是道琼斯指数表现最弱的股票之一，周一上午下跌超过3%。</li><li>与此同时，一些股票正在受益。<b>现代</b>（纳斯达克：MRNA）股价上涨，或许是由于预期疫苗销量会增加，而<b>Peloton互动</b>（纳斯达克：PTON）也取得了进展，因为一些人预计，如果健康风险水平上升，更多的健身爱好者可能会呆在家里。</li></ul>与此同时，工业和材料等领域的周期性股票也特别疲软。这些下降是在过去一年表现普遍强劲之后发生的。</blockquote></p><p> <b>Don't panic -- but be ready for what might come next</b></p><p><blockquote><b>不要惊慌——但要为接下来可能发生的事情做好准备</b></blockquote></p><p> It's always hard to deal with market downturns, and in particular, the long-term rise in the Dow makes declines seem worse than they really are. Drops of 2% have always been commonplace on Wall Street, but with the Dow having jumped as far as it has, the inevitable \"Dow Down 700+\" headlines always look more ominous.</p><p><blockquote>应对市场低迷总是很困难的，特别是道琼斯指数的长期上涨让下跌看起来比实际情况更糟糕。下跌2%在华尔街一直是家常便饭，但随着道琼斯指数已经跳得如此之远，不可避免的“道琼斯指数下跌700+”的头条新闻看起来总是更加不祥。</blockquote></p><p> Panic-selling after a stock market crash almost never works out well, and that's why feeling comfortable with your current level of risk<i>before</i>a crash comes is so important. In particular, if you find your portfolio has a lot more invested in stocks than you thought after the big gains of the past year, it's not unreasonable to rebalance your portfolio and move some of that money out of the market before a crash. Many investors like to target certain percentages in various asset classes, and it's smart to periodically check in on your holdings to make sure gains in one area and losses in another haven't thrown your portfolio out of whack.</p><p><blockquote>股市崩盘后的恐慌性抛售几乎永远不会有好结果，这就是为什么对当前的风险水平感到满意<i>以前</i>崩溃的到来是如此重要。特别是，如果您发现在过去一年的大幅上涨之后，您的投资组合在股票上的投资比您想象的要多得多，那么在崩盘之前重新平衡您的投资组合并将部分资金撤出市场并非没有道理。许多投资者喜欢在各种资产类别中设定一定比例的目标，明智的做法是定期检查您的持股，以确保一个领域的收益和另一个领域的损失不会使您的投资组合陷入混乱。</blockquote></p><p> Monday morning's downward move doesn't count as a crash. That doesn't mean there won't be one later today, tomorrow, next week, or later this year. Regardless, though,having an investing strategythat acknowledges the inevitable fact that a crash will come at some point will definitely help you whenever that fateful day finally does arrive.</p><p><blockquote>周一上午的下跌不算崩盘。这并不意味着今天晚些时候、明天、下周或今年晚些时候不会有。不过，无论如何，拥有一个承认崩盘将在某个时候到来这一不可避免的事实的投资策略肯定会在那决定性的一天最终到来时对你有所帮助。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/19/is-this-the-long-awaited-stock-market-crash/\">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":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.fool.com/investing/2021/07/19/is-this-the-long-awaited-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149818409","content_text":"Investors are always trying to anticipate the next stock market crash. Those searching for signs of the next major downturn for the market got some evidence supporting the idea that it could come sooner rather than later, with investors continuing to worry about the sharp increase in COVID-19 cases in the U.S. and in other areas of the world. As of 11:15 a.m. EDT, the Dow Jones Industrial Average(DJINDICES:^DJI)was down 767 points to 33,921. The S&P 500(SNPINDEX:^GSPC)had dropped 65 points to 4,262, and the Nasdaq Composite(NASDAQINDEX:^IXIC)was lower by 143 points to 14,284.\nYou can always make a bearish case for why the stock market should stop going up, at least in the short run. However, investors spend too much time trying to figure out exact timing. If you're truly worried about your exposure to the stock market, then the time to take action isbeforethe worst of the next bear market happens. Below, we'll take a closer look at what's hitting the market today and what response might be most appropriate.\nSlowing down\nMany investors couldn't understand the huge gains that the stock market has produced over the past 15 months. Even as the global economy struggled under the weight of pandemic-caused lockdowns, the stock market reflected a level of optimism that simply didn't seem to be there yet. Eventually, vaccines led to reopenings, which in turn started to help lift the prospects for companies hit hard by the pandemic.\nNow, though, the fear among investors is that the markets have gotten ahead of themselves. As the delta variant helps stoke rising COVID-19 case counts, the idea that the pandemic would soon no longer be a major factor in the economy is starting to lose credibility.\nThat change of attitude is having dramatic impacts across the financial markets:\n\nBond yields have plunged as investors seek the reliable, though minuscule, returns available from fixed income securities. Ten-year Treasury yields dropped below 1.2% Monday morning, and after having seen some upward movement in recent months, international bond yields now appear likely to remain negative in many countries throughout Europe for the foreseeable future.\nThe drop in long-term rates has hit financial stocks hard, withGoldman Sachs(NYSE:GS)leading big banks lower with a nearly 4% drop. Financials are playing a major role in pulling the Dow down by a larger percentage than other markets on Monday.\nSigns ofinflationary pressureare showing early signs of potentially reversing. Crude oil fell nearly $5 per barrel on Monday, falling to $67 per barrel and causing oil-related stocks to fall.Chevron(NYSE:CVX)was among the Dow's weakest performers, falling more than 3% Monday morning.\nMeanwhile, some stocks are benefiting.Moderna(NASDAQ:MRNA)shares rose, perhaps in anticipation ofgreater vaccine sales, whilePeloton Interactive(NASDAQ:PTON)also gained ground as some anticipate that more fitness enthusiasts might stay home if health risk levels increase.\n\nMeanwhile, cyclical stocks in areas like industrials and materials are also particularly weak. The declines are coming after a generally strong performance over the past year.\nDon't panic -- but be ready for what might come next\nIt's always hard to deal with market downturns, and in particular, the long-term rise in the Dow makes declines seem worse than they really are. Drops of 2% have always been commonplace on Wall Street, but with the Dow having jumped as far as it has, the inevitable \"Dow Down 700+\" headlines always look more ominous.\nPanic-selling after a stock market crash almost never works out well, and that's why feeling comfortable with your current level of riskbeforea crash comes is so important. In particular, if you find your portfolio has a lot more invested in stocks than you thought after the big gains of the past year, it's not unreasonable to rebalance your portfolio and move some of that money out of the market before a crash. Many investors like to target certain percentages in various asset classes, and it's smart to periodically check in on your holdings to make sure gains in one area and losses in another haven't thrown your portfolio out of whack.\nMonday morning's downward move doesn't count as a crash. That doesn't mean there won't be one later today, tomorrow, next week, or later this year. Regardless, though,having an investing strategythat acknowledges the inevitable fact that a crash will come at some point will definitely help you whenever that fateful day finally does arrive.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2703,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171352595,"gmtCreate":1626707930917,"gmtModify":1631891540067,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Cos blue origin oso going to space n lift the entire industry? When u tink competition gonna crumple n it turns out win win.","listText":"Cos blue origin oso going to space n lift the entire industry? When u tink competition gonna crumple n it turns out win win.","text":"Cos blue origin oso going to space n lift the entire industry? When u tink competition gonna crumple n it turns out win win.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171352595","repostId":"1114662059","repostType":4,"repost":{"id":"1114662059","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":1626704591,"share":"https://www.laohu8.com/m/news/1114662059?lang=zh_CN&edition=full","pubTime":"2021-07-19 22:23","market":"us","language":"en","title":"Virgin Galactic surged over 5% in morning trading<blockquote>维珍银河早盘飙升逾5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114662059","media":"Tiger Newspress","summary":"(July 19) Virgin Galactic surged over 5% in morning trading.","content":"<p>(July 19)&nbsp;Virgin Galactic surged over 5% in morning trading.</p><p><blockquote>（7月19日）维珍银河早盘大涨超5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b8f94a7f1c7d417d76de1d48eeab69bb\" tg-width=\"709\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></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>Virgin Galactic surged over 5% in morning trading<blockquote>维珍银河早盘飙升逾5%</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\">\nVirgin Galactic surged over 5% in morning trading<blockquote>维珍银河早盘飙升逾5%</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\">2021-07-19 22:23</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(July 19)&nbsp;Virgin Galactic surged over 5% in morning trading.</p><p><blockquote>（7月19日）维珍银河早盘大涨超5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b8f94a7f1c7d417d76de1d48eeab69bb\" tg-width=\"709\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114662059","content_text":"(July 19) Virgin Galactic surged over 5% in morning trading.","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":2428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179787635,"gmtCreate":1626577632027,"gmtModify":1631893839288,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"So many... which to choose??","listText":"So many... which to choose??","text":"So many... which to choose??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179787635","repostId":"1183956332","repostType":4,"isVote":1,"tweetType":1,"viewCount":361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179784225,"gmtCreate":1626577579867,"gmtModify":1631893839291,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Wow when is our turn next","listText":"Wow when is our turn next","text":"Wow when is our turn next","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/179784225","repostId":"2152968147","repostType":4,"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179882073,"gmtCreate":1626503178892,"gmtModify":1631893839292,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Trying to squeeze us retail out","listText":"Trying to squeeze us retail out","text":"Trying to squeeze us retail out","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179882073","repostId":"1159574501","repostType":4,"repost":{"id":"1159574501","kind":"news","pubTimestamp":1626484131,"share":"https://www.laohu8.com/m/news/1159574501?lang=zh_CN&edition=full","pubTime":"2021-07-17 09:08","market":"us","language":"en","title":"'Bad Omen' For Meme Stocks And The Retail Trading Boom? Here's What The Data Says<blockquote>迷因股票和零售交易繁荣的“坏兆头”？数据是这么说的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159574501","media":"Benzinga","summary":"Social media meme stocks GameStop Corp.(NYSE:GME) and AMC Entertainment Holdings Inc(NYSE:AMC) took ","content":"<p><div> Social media meme stocks GameStop Corp.(NYSE:GME) and AMC Entertainment Holdings Inc(NYSE:AMC) took a beating this week, with GameStop on track to finish the week down 9% and AMC set to lose 20.9% in ...</p><p><blockquote><div>社交媒体meme股票游戏驿站公司（纽约证券交易所代码：GME）和AMC院线控股公司（纽约证券交易所代码：AMC）本周遭受重创，游戏驿站本周将下跌9%，AMC将下跌20.9%。</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/22023662/bad-omen-for-meme-stocks-and-the-retail-trading-boom-heres-what-the-data-says\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/22023662/bad-omen-for-meme-stocks-and-the-retail-trading-boom-heres-what-the-data-says\">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>'Bad Omen' For Meme Stocks And The Retail Trading Boom? Here's What The Data Says<blockquote>迷因股票和零售交易繁荣的“坏兆头”？数据是这么说的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'Bad Omen' For Meme Stocks And The Retail Trading Boom? Here's What The Data Says<blockquote>迷因股票和零售交易繁荣的“坏兆头”？数据是这么说的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-07-17 09:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Social media meme stocks GameStop Corp.(NYSE:GME) and AMC Entertainment Holdings Inc(NYSE:AMC) took a beating this week, with GameStop on track to finish the week down 9% and AMC set to lose 20.9% in ...</p><p><blockquote><div>社交媒体meme股票游戏驿站公司（纽约证券交易所代码：GME）和AMC院线控股公司（纽约证券交易所代码：AMC）本周遭受重创，游戏驿站本周将下跌9%，AMC将下跌20.9%。</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/22023662/bad-omen-for-meme-stocks-and-the-retail-trading-boom-heres-what-the-data-says\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/22023662/bad-omen-for-meme-stocks-and-the-retail-trading-boom-heres-what-the-data-says\">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/analyst-ratings/analyst-color/21/07/22023662/bad-omen-for-meme-stocks-and-the-retail-trading-boom-heres-what-the-data-says\">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":{"AMC":"AMC院线","GME":"游戏驿站","TLRY":"Tilray Inc."},"source_url":"https://www.benzinga.com/analyst-ratings/analyst-color/21/07/22023662/bad-omen-for-meme-stocks-and-the-retail-trading-boom-heres-what-the-data-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159574501","content_text":"Social media meme stocks GameStop Corp.(NYSE:GME) and AMC Entertainment Holdings Inc(NYSE:AMC) took a beating this week, with GameStop on track to finish the week down 9% and AMC set to lose 20.9% in Friday afternoon trading.\nDataTrek Research co-founder Nicholas Colas said this week there is an ominous sign the meme stock phenomenon may be dying a slow death.\nRetail Trading Boom:DataTrek has been periodically tracking the boom in retail traders triggered during the pandemic in 2020 and 2021 by monitoring U.S. Google search volume for the keywords “invest” and “buy stock.” Colas said these basic search terms are a broad way to gauge marginal retail investor interest in the stock market.\nThe image below shows how search volume for those key phrases has changed since the beginning of 2020.\n\nColas said the search volume data clearly indicates the retail stock trading fad is completely over at this point, a “very bad omen” for AMC and GameStop. In fact, Google search volume is now back down to where it was before the pandemic started in early 2020.\nIn addition, search volumes are now down 75% from their peak levels during the initial short squeezes in AMC and GameStop back in January 2021.\nColas said meme stocks like AMC need new retail stock traders to join in the buying to support their stock prices else they could be headed for more volatility like they have experienced this week.\n“Bubbles need fresh money, or they deflate. Quickly,” Colas wrote. “Every craze needs new adherents (i.e., not just the same crowd) to keep it relevant, and the Google chart shows those are in increasingly short supply.”\nPMP Weighs In:Benzinga PreMarket Prep co-host Dennis Dick said a good story can carry a stock a long way, and some stocks can even become so hot that they become temporarily disconnected from the company’s underlying fundamentals.\n“We have seen that in a number of meme stocks this year. Story can drive price in the short run but stocks almost always return back to their fundamental value in the long run,” Dick said.\nThe type of disconnect between share price and underlying value that AMC and GameStop have experienced in 2021 is certainly nothing new. Canadian cannabis stock Tilray Inc(NASDAQ:TLRY) experienced a similar disconnect back in 2018 when a retail stock mania sent the stock skyrocketing up to $300. Today, Tilray is trading back down at around $13.90.\n“As the stock price begins to fall, momentum traders who have been chasing the hot story will begin to exit. But if the stock trades at an extreme valuation, there may be very few traders willing to buy. This is what we are starting to see in many meme stocks today,” Dick said.\nBenzinga's Take:If the story begins to get hot again, the stock prices of overvalued story stocks can always recover once again. But without any underlying fundamentals to support the valuation, these types of stocks need a constant stream of new buyers and an increasingly bullish story to generate fresh enthusiasm.","news_type":1,"symbols_score_info":{"TLRY":0.9,"AMC":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":581,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179881468,"gmtCreate":1626502932654,"gmtModify":1631893839296,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Aiyooo","listText":"Aiyooo","text":"Aiyooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179881468","repostId":"2152168563","repostType":4,"isVote":1,"tweetType":1,"viewCount":464,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147267130,"gmtCreate":1626360098420,"gmtModify":1631893839300,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Amazon oredi shows trending down. Apple... seems ok now but so far even reported earnings exceed expectations it'll dip too. Reali scratch head.","listText":"Amazon oredi shows trending down. Apple... seems ok now but so far even reported earnings exceed expectations it'll dip too. Reali scratch head.","text":"Amazon oredi shows trending down. Apple... seems ok now but so far even reported earnings exceed expectations it'll dip too. Reali scratch head.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/147267130","repostId":"1160878205","repostType":2,"isVote":1,"tweetType":1,"viewCount":376,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147208827,"gmtCreate":1626358109069,"gmtModify":1631893839302,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"The title almost stopped my heart. Can't they phrase it better??!!","listText":"The title almost stopped my heart. Can't they phrase it better??!!","text":"The title almost stopped my heart. Can't they phrase it better??!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/147208827","repostId":"2151269095","repostType":4,"isVote":1,"tweetType":1,"viewCount":516,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147888976,"gmtCreate":1626349994095,"gmtModify":1631893839305,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"How can compare with 1999? No covid back then no pent up IPOs. Crash says for many yrs n iwaited till now oso no crash to throw my fortune in.","listText":"How can compare with 1999? No covid back then no pent up IPOs. Crash says for many yrs n iwaited till now oso no crash to throw my fortune in.","text":"How can compare with 1999? No covid back then no pent up IPOs. Crash says for many yrs n iwaited till now oso no crash to throw my fortune in.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/147888976","repostId":"1190703857","repostType":4,"isVote":1,"tweetType":1,"viewCount":451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147117172,"gmtCreate":1626341387596,"gmtModify":1631893839309,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Finally apple","listText":"Finally apple","text":"Finally apple","images":[{"img":"https://static.tigerbbs.com/2e5228571926ad26b0c0aa66bf9050b5","width":"1080","height":"2492"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/147117172","isVote":1,"tweetType":1,"viewCount":551,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":147958789,"gmtCreate":1626329626041,"gmtModify":1631893839313,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Izzit juz me. Dun understand. *shrugs*","listText":"Izzit juz me. Dun understand. *shrugs*","text":"Izzit juz me. Dun understand. *shrugs*","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/147958789","repostId":"1122873304","repostType":4,"repost":{"id":"1122873304","kind":"news","pubTimestamp":1626320892,"share":"https://www.laohu8.com/m/news/1122873304?lang=zh_CN&edition=full","pubTime":"2021-07-15 11:48","market":"us","language":"en","title":"Inflation: The Next Stage Of The Global Financial Crisis 2007-2031<blockquote>通货膨胀：2007-2031年全球金融危机的下一阶段</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122873304","media":"zerohedge","summary":"“The evil that men do lives after them; the good is oft interred with their bones; so be it with Caesar.”“Oh, that’s nothing to worry about, the central banks have no choice but to keep juicing markets”…The market is so focused on the short-term and ignoring the consequences of the last 10 years of QE, monetary experimentation and easy rates, that its blundering into the next crisis. Inflation matters, and has jumped from financial assets into the real economy.I should warn readers this morning’","content":"<p><i>“The evil that men do lives after them; the good is oft interred with their bones; so be it with Caesar.”</i></p><p><blockquote><i>“人所行的恶，必后生；善人常与尸骨一同埋葬。凯撒也是如此。”</i></blockquote></p><p> <b><i>What Inflation? “Oh, that’s nothing to worry about, the central banks have no choice but to keep juicing markets”… The market is so focused on the short-term and ignoring the consequences of the last 10 years of QE, monetary experimentation and easy rates, that its blundering into the next crisis. Inflation matters, and has jumped from financial assets into the real economy.</i></b></p><p><blockquote><b><i>什么通货膨胀？“哦，这没什么好担心的，央行别无选择，只能继续刺激市场”……市场如此关注短期，忽视了过去10年量化宽松、货币实验和宽松利率的后果，以至于它陷入了下一场危机。通货膨胀很重要，而且已经从金融资产跳到了实体经济。</i></b></blockquote></p><p> <i>I should warn readers this morning’s porridge is going to be yet another of my irregular notes on how the Global Financial Crisis (“GFC”) which began in 2007 is still with us.. We’re just moving on to a new stage… Enjoy Chapter 384 of&nbsp;The Fall of Money – The GFC: 2007-2031.</i></p><p><blockquote><i>我应该警告读者，今天早上的粥将是我关于2007年开始的全球金融危机（“GFC”）如何仍然伴随着我们的又一次不定期笔记..我们正在进入一个新的阶段……欣赏《金钱的陨落——GFC：2007-2031》的第384章。</i></blockquote></p><p> This morning – What inflation?</p><p><blockquote>今天早上——什么通货膨胀？</blockquote></p><p> Huh? Last week the market convinced itself inflation&nbsp;<i><u>apparently</u></i>wasn’t an issue. Yield curves flattened, bonds tightened, and even though stocks were anticipating the best-ever-earnings-season, there was&nbsp;<i><u>absolutely</u></i>&nbsp;nothing to worry about in terms of rising prices… Apparently…</p><p><blockquote>啊？上周市场确信通胀<i><u>显然</u></i>不是问题。收益率曲线变平，债券收紧，尽管股市预计将迎来有史以来最好的财报季，但<i><u>绝对地</u></i>价格上涨没什么可担心的……显然……</blockquote></p><p> <b>Apparently</b>and&nbsp;<b>Absolutely</b>&nbsp;are two very dangerous words in finance… They raise the likelihood you’ve got it completely wrong, ie:&nbsp;<i>Apparently</i>&nbsp;you couldn’t lose, but you did… Returns were&nbsp;<i>Absolutely</i>guaranteed.. till the company went burst.</p><p><blockquote><b>显然</b>和<b>绝对地</b>在金融领域是两个非常危险的词……它们增加了你完全弄错的可能性，即：<i>显然</i>你不能输，但你输了……回报是<i>绝对地</i>保证..直到公司倒闭。</blockquote></p><p> As we’ve learn’t this morning UK Inflation has risen to 2.5% – raising the prospect of a letter from the Bank explaining why. The headline US CPI data yesterday was even stronger – 5.4% yoy, and 0.9% over the last month! That’s not quite Zimbabwe but… you get the drift… When it happens in Europe… well the Germans are going to have a monumental hissy fit. (Top investment tip: stay long wheelbarrows.)</p><p><blockquote>正如我们今天早上了解到的那样，英国通胀率已升至2.5%，这增加了央行致函解释原因的可能性。昨天的总体美国CPI数据甚至更强劲——同比增长5.4%，环比增长0.9%！这不完全是津巴布韦，但是…你明白了…当它发生在欧洲时…德国人会大发脾气。（顶级投资提示：长期使用独轮车。）</blockquote></p><p> Inflation matters. Its critical to bonds and long-term returns. The market should look like it’s been slapped with the Wet-Halibut of Rampant Inflation, but, it doesn’t seem to have learnt the lesson. This morning, the financial-commentariat is awash with analysis of how the Fed, BoE and ECB will all hold off from any hint of “taper” response to inflation, in order to keep frothy markets from collapsing.</p><p><blockquote>通货膨胀很重要。这对债券和长期回报至关重要。市场应该看起来像是被猖獗的通胀打了一巴掌，但是，它似乎还没有吸取教训。今天早上，金融评论充斥着对美联储、英国央行和欧洲央行将如何避免对通胀做出任何“缩减”反应的暗示，以防止泡沫市场崩溃的分析。</blockquote></p><p> Fed-Watching used to be the delicate art of understanding the indecipherable nuances of Fed-Speak, forensically dissecting the commentary and numbers and drawing conclusions based on a clear understanding of what was left unsaid and the Fed’s mandate.</p><p><blockquote>观察美联储曾经是一门微妙的艺术，可以理解美联储言论中难以理解的细微差别，对评论和数字进行法医剖析，并根据对未说的话和美联储使命的清晰理解得出结论。</blockquote></p><p> Not today.</p><p><blockquote>今天不行。</blockquote></p><p> Fed watching today is about understanding how Jerome Powell and his merry gang are now hamstrung and tripping over themselves about not spooking markets over rate rises, taper-talk or doing anything that might unwind what they’ve being doing the last 12 years – frothing markets with unlimited QE, inappropriate rates, regulation and spin.</p><p><blockquote>美联储今天的观察是为了了解杰罗姆·鲍威尔和他的快乐团伙现在是如何被束缚和绊倒的，因为他们没有因为加息、缩减开支或做任何可能放松他们过去12年所做的事情而惊吓市场——泡沫市场无限量化宽松、不适当的利率、监管和旋转。</blockquote></p><p> <b>The brutal reality is the Central Bankers,&nbsp;</b><b><i>who are all honourable men and women</i></b><b>, understand the levers they pull no longer function as they once did. Why? Well, these honourable men and women have broken the system as a consequence of their actions. Oops. Now they have no choice but to follow.. which means trouble ahead until the global financial system can be resolved.</b></p><p><blockquote><b>残酷的现实是央行行长们，</b><b><i>他们都是可敬的男男女女</i></b><b>，明白他们拉动的杠杆不再像以前那样发挥作用了。为什么？好吧，这些可敬的男人和女人因为他们的行为而打破了这个系统。哎呀。现在他们别无选择，只能跟随..这意味着在全球金融体系得到解决之前，麻烦还在后头。</b></blockquote></p><p> The start reality is Central Banks have no answer to inflation except to hope and carry on. They are caught between the Scylla of Inflation and the Charybdis of a market collapse. Eek! Which is why so many analysts are confident the markets will win out and keep going higher – because central banks have little choice but to go with it and keep up the stimulus.</p><p><blockquote>最初的现实是，央行除了希望和坚持之外，对通胀没有答案。他们被夹在通货膨胀的“锡拉”和市场崩溃的“腹背受敌”之间。哎呀！这就是为什么如此多的分析师相信市场将获胜并继续走高——因为央行别无选择，只能随波逐流并继续刺激。</blockquote></p><p> <b>Most of the market is fixated on what the S&amp;P does this afternoon, what new high the NASDAQ will make this month, or where Amazon is going to top this quarter. They have the vision of a blind man when it comes to anything much beyond the end of their one-year time horizon. Even the bond market seems blind.</b></p><p><blockquote><b>大多数市场关注的是标准普尔指数今天下午的走势、纳斯达克本月将创下什么新高，或者亚马逊本季度将超越何处。当涉及到远远超出他们一年时间范围的任何事情时，他们有一个盲人的视野。甚至债券市场似乎也是盲目的。</b></blockquote></p><p> The reality is investment should be about the long term. If you ignore the future in favour of short-term gains its makes it very easy to dismiss the evidence… that inflation is actually a very, very real issue..</p><p><blockquote>现实是投资应该是长期的。如果你为了短期收益而忽视未来，就很容易忽视证据…通货膨胀实际上是一个非常非常现实的问题..</blockquote></p><p> Lots of smart non-financial assets funds do understand that, and see just how horribly distorted markets have become. That’s why they are so keen to diversify out of corrupted financial assets and into real assets – the hot part of the market (and what I’ve been doing in Alternative Assets for the last 12 years.)</p><p><blockquote>许多聪明的非金融资产基金确实明白这一点，并看到市场已经变得多么扭曲。这就是为什么他们如此热衷于多元化，摆脱腐败的金融资产，进入实物资产——这是市场的热门部分（也是我过去12年来在另类资产领域所做的事情）。</blockquote></p><p></p><p> Going back to inflation, the outlook is complex – another reason such a large part of the financial blogosphere is ignoring it. For instance; it’s possible to argue the rise in commodity prices is a factor of hoarding; manufacturers anticipating a surge Covid recovery and preparing for massive post-pandemic demand. The spikes in commodities from Copper to Lumber are now in reverse – supporting the market’s contention the inflation number is something of an overshoot.</p><p><blockquote>回到通胀，前景很复杂——这也是金融博客圈如此大一部分人忽视通胀的另一个原因。例如；可以说大宗商品价格上涨是囤积的一个因素；制造商预计新冠疫情复苏将激增，并为大流行后的巨大需求做好准备。从铜到木材等大宗商品的飙升现在已经逆转，这支持了市场关于通胀数据有些超调的论点。</blockquote></p><p> <b>Oil is an outlier.</b>OPEC is a monopoly price setter, but is going through yet another of its periodic organisational crisis resulting in a spike that’s proving difficult to hedge. Owning oil is not a pleasant outcome for anyone – as we saw last year when traders found themselves owning negative priced oil when storage was unavailable.</p><p><blockquote><b>石油是一个异常值。</b>欧佩克是垄断价格制定者，但正在经历另一场周期性组织危机，导致价格飙升，事实证明难以对冲。拥有石油对任何人来说都不是一个愉快的结果——正如我们去年看到的那样，当没有储存时，交易员发现自己拥有负价格的石油。</blockquote></p><p> Some of the important underlying trends in the economy – like used cars, where prices are rising. It hints that its details of specific inflation factors in each price that are important. Cars are a good example – we’re all aware of the global shortage of chips enabling car makers to cut production and create scarcity, pushing up new car prices, dragging second hand values higher as consumers seek alternatives. &nbsp;On the other hand – new car prices have been rising for years, with higher costs “justified” by the increasing amount of tech junk put into cars.. As the EU announces it will outlaw new ICE (internal combustion engine) vehicles by 2040, I wonder if we are going to see a new counter-trend develop.</p><p><blockquote>经济中一些重要的潜在趋势——比如二手车，价格正在上涨。它暗示了它的细节，具体的通货膨胀因素在每个价格是重要的。汽车就是一个很好的例子——我们都知道，全球芯片短缺导致汽车制造商减产并造成短缺，推高新车价格，随着消费者寻求替代品，二手车价格上涨。另一方面，新车价格多年来一直在上涨，越来越多的科技垃圾被放入汽车中证明了更高的成本是“合理的”..随着欧盟宣布到2040年将禁止新型ICE（内燃机）汽车，我想知道我们是否会看到新的反趋势发展。</blockquote></p><p> To explain, consider the Land Rover:</p><p><blockquote>为了解释这一点，请考虑路虎：</blockquote></p><p> <ul>  <li>A 10 year-old low milage, full service history, Range Rover in immaculate condition may be worth £16k. A 20 year battered Defender with zero documents is worth £32k! But you can fix it with Gaffa Tape, WD40 and a hammer. (If it moves and shouldn’t: Gaffa tape it. If it still moves; more Gaffa tape. If it doesn’t move: WD40 and persuade it with a hammer.)</li> </ul> <b>However, inflation complacency may be the least of Central Bank worries. You may have spotted an increasing number of breathless articles from around the globe on House Price Inflation.</b></p><p><blockquote><ul><li>一辆拥有10年低里程、完整保养历史、状况完美的路虎揽胜可能价值16,000英镑。一个被打了20年却没有任何证件的卫士价值3.2万英镑！但是你可以用Gaffa胶带，WD40和锤子来固定。（如果它动了，不应该：Gaffa胶带它。如果它仍然动；更多的Gaffa胶带。如果它不动：WD40并用锤子说服它。）</li></ul><b>然而，通胀自满可能是央行最不担心的问题。你可能已经发现了越来越多来自全球各地的关于房价通胀的令人窒息的文章。</b></blockquote></p><p> Everywhere on the planet the affluent classes – those with savings, who’ve done well from lockdown, and already on the property ladder – have been driving an uptick in property. Its debt fuelled and an illiquid market – no one sells till they see what they want to buy, and the ladder is actually a pyramid, with fewer assets on each successively higher rung.</p><p><blockquote>在地球上的任何地方，富裕阶层——那些有储蓄的人，那些在封锁期间过得很好，并且已经在房地产阶梯上的人——一直在推动房地产价格的上涨。它助长了债务和缺乏流动性的市场——没有人会卖出，直到他们看到他们想买的东西，阶梯实际上是一个金字塔，每一个连续更高的梯级上的资产都越来越少。</blockquote></p><p> The result is record home prices nearly everywhere. This week Powell and US Treasury Sec Janet Yellen are going to chat about it at the Financial Stability Oversight Council – a body setup post Global Financial Crisis (“GFC”) in 2010 to identify excessive risks to the US Financial System. About time.. Housing is more frothy than 2007 according to the Case-Shiller US property value index. (Incidentally… so is just about any other market…but, I;ve said that many times before..)</p><p><blockquote>结果是几乎所有地方的房价都创历史新高。本周，鲍威尔和美国财政部Sec珍妮特·耶伦(Janet Yellen)将在金融稳定监督委员会(Financial Stability Oversight Council)上谈论此事，该委员会是2010年全球金融危机(“GFC”)后成立的机构，旨在识别美国金融体系的过度风险。差不多时间了..根据Case-Shiller美国房地产价值指数，房地产泡沫比2007年更大。（顺便说一句……其他市场也是如此……但是，我以前已经说过很多次了……）</blockquote></p><p> Rightly, Janet and Jerome are concerned a second housing bubble bursting could shake the foundations of finance… again. However, this time will be different. The housing market is not vulnerable to a massive number of low-credit-score mortgagees defaulting, but to a large number of affluent middle classes suddenly finding themselves financial stretched, on a rung of the ladder they can’t afford, and sitting on negative equity when the bubble bursts.</p><p><blockquote>珍妮特和杰罗姆担心第二次房地产泡沫破裂可能会再次动摇金融的基础，这是正确的。然而，这一次会有所不同。房地产市场并不容易受到大量低信用评分抵押贷款人违约的影响，而是容易受到大量富裕中产阶级突然发现自己财务捉襟见肘，处于他们负担不起的阶梯上，并坐在负资产上泡沫破裂时。</blockquote></p><p> In the UK, we live with negative equity. In the US, you walk away. Whatever, these consumers consume less.</p><p><blockquote>在英国，我们生活在负资产中。在美国，你走开。不管怎样，这些消费者消费更少。</blockquote></p><p> The structure of the market has also changed. Banks don’t lend anymore. They broke their risks off to the investment sector. In the case of US mortgages – back to government through the Mortgage Backed Bond buyback schemes, and to the non-bank financial institutions than now finance, originate and service mortgages…</p><p><blockquote>市场的结构也发生了变化。银行不再放贷了。他们将风险转移到了投资领域。就美国抵押贷款而言——通过抵押贷款支持债券回购计划返还给政府，并返还给现在融资、发放和服务抵押贷款的非银行金融机构……</blockquote></p><p> <b>This is going to be the really big problem of the next stage of the Global Financial Crisis 2007-2031.</b>Real Assets! Smart money has been loading up on real assets on the basis they are decorrelated from the increasingly corrupted financial asset sector, but they reality is real assets from property, private equity, secured lending, aircraft, shipping, you-name-it, is now getting just as frothy as a result of all that inflation tied up in financial assets now spilling into the real economy…</p><p><blockquote><b>这将是2007-2031年全球金融危机下一阶段的真正大问题。</b>实物资产！聪明的资金一直在买入实物资产，因为它们与日益腐败的金融资产行业无关，但现实是，来自房地产、私募股权、担保贷款、飞机、航运等领域的实物资产，现在都变得越来越泡沫由于所有与金融资产相关的通货膨胀现在蔓延到实体经济……</blockquote></p><p> <b>Financial Asset Inflation has infected the real economy….</b></p><p><blockquote><b>金融资产通胀已经感染了实体经济。</b></blockquote></p><p> Time to think again… All these honourable men and women in Central Banks must dread Caesar’s ghost coming back to haunt the monetary experiment they started in 2010 going so badly wrong…</p><p><blockquote>是时候重新思考了……央行里所有这些可敬的男男女女一定害怕凯撒的鬼魂会回来困扰他们在2010年开始的货币实验，结果却出了如此严重的问题……</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>Inflation: The Next Stage Of The Global Financial Crisis 2007-2031<blockquote>通货膨胀：2007-2031年全球金融危机的下一阶段</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\">\nInflation: The Next Stage Of The Global Financial Crisis 2007-2031<blockquote>通货膨胀：2007-2031年全球金融危机的下一阶段</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-15 11:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>“The evil that men do lives after them; the good is oft interred with their bones; so be it with Caesar.”</i></p><p><blockquote><i>“人所行的恶，必后生；善人常与尸骨一同埋葬。凯撒也是如此。”</i></blockquote></p><p> <b><i>What Inflation? “Oh, that’s nothing to worry about, the central banks have no choice but to keep juicing markets”… The market is so focused on the short-term and ignoring the consequences of the last 10 years of QE, monetary experimentation and easy rates, that its blundering into the next crisis. Inflation matters, and has jumped from financial assets into the real economy.</i></b></p><p><blockquote><b><i>什么通货膨胀？“哦，这没什么好担心的，央行别无选择，只能继续刺激市场”……市场如此关注短期，忽视了过去10年量化宽松、货币实验和宽松利率的后果，以至于它陷入了下一场危机。通货膨胀很重要，而且已经从金融资产跳到了实体经济。</i></b></blockquote></p><p> <i>I should warn readers this morning’s porridge is going to be yet another of my irregular notes on how the Global Financial Crisis (“GFC”) which began in 2007 is still with us.. We’re just moving on to a new stage… Enjoy Chapter 384 of&nbsp;The Fall of Money – The GFC: 2007-2031.</i></p><p><blockquote><i>我应该警告读者，今天早上的粥将是我关于2007年开始的全球金融危机（“GFC”）如何仍然伴随着我们的又一次不定期笔记..我们正在进入一个新的阶段……欣赏《金钱的陨落——GFC：2007-2031》的第384章。</i></blockquote></p><p> This morning – What inflation?</p><p><blockquote>今天早上——什么通货膨胀？</blockquote></p><p> Huh? Last week the market convinced itself inflation&nbsp;<i><u>apparently</u></i>wasn’t an issue. Yield curves flattened, bonds tightened, and even though stocks were anticipating the best-ever-earnings-season, there was&nbsp;<i><u>absolutely</u></i>&nbsp;nothing to worry about in terms of rising prices… Apparently…</p><p><blockquote>啊？上周市场确信通胀<i><u>显然</u></i>不是问题。收益率曲线变平，债券收紧，尽管股市预计将迎来有史以来最好的财报季，但<i><u>绝对地</u></i>价格上涨没什么可担心的……显然……</blockquote></p><p> <b>Apparently</b>and&nbsp;<b>Absolutely</b>&nbsp;are two very dangerous words in finance… They raise the likelihood you’ve got it completely wrong, ie:&nbsp;<i>Apparently</i>&nbsp;you couldn’t lose, but you did… Returns were&nbsp;<i>Absolutely</i>guaranteed.. till the company went burst.</p><p><blockquote><b>显然</b>和<b>绝对地</b>在金融领域是两个非常危险的词……它们增加了你完全弄错的可能性，即：<i>显然</i>你不能输，但你输了……回报是<i>绝对地</i>保证..直到公司倒闭。</blockquote></p><p> As we’ve learn’t this morning UK Inflation has risen to 2.5% – raising the prospect of a letter from the Bank explaining why. The headline US CPI data yesterday was even stronger – 5.4% yoy, and 0.9% over the last month! That’s not quite Zimbabwe but… you get the drift… When it happens in Europe… well the Germans are going to have a monumental hissy fit. (Top investment tip: stay long wheelbarrows.)</p><p><blockquote>正如我们今天早上了解到的那样，英国通胀率已升至2.5%，这增加了央行致函解释原因的可能性。昨天的总体美国CPI数据甚至更强劲——同比增长5.4%，环比增长0.9%！这不完全是津巴布韦，但是…你明白了…当它发生在欧洲时…德国人会大发脾气。（顶级投资提示：长期使用独轮车。）</blockquote></p><p> Inflation matters. Its critical to bonds and long-term returns. The market should look like it’s been slapped with the Wet-Halibut of Rampant Inflation, but, it doesn’t seem to have learnt the lesson. This morning, the financial-commentariat is awash with analysis of how the Fed, BoE and ECB will all hold off from any hint of “taper” response to inflation, in order to keep frothy markets from collapsing.</p><p><blockquote>通货膨胀很重要。这对债券和长期回报至关重要。市场应该看起来像是被猖獗的通胀打了一巴掌，但是，它似乎还没有吸取教训。今天早上，金融评论充斥着对美联储、英国央行和欧洲央行将如何避免对通胀做出任何“缩减”反应的暗示，以防止泡沫市场崩溃的分析。</blockquote></p><p> Fed-Watching used to be the delicate art of understanding the indecipherable nuances of Fed-Speak, forensically dissecting the commentary and numbers and drawing conclusions based on a clear understanding of what was left unsaid and the Fed’s mandate.</p><p><blockquote>观察美联储曾经是一门微妙的艺术，可以理解美联储言论中难以理解的细微差别，对评论和数字进行法医剖析，并根据对未说的话和美联储使命的清晰理解得出结论。</blockquote></p><p> Not today.</p><p><blockquote>今天不行。</blockquote></p><p> Fed watching today is about understanding how Jerome Powell and his merry gang are now hamstrung and tripping over themselves about not spooking markets over rate rises, taper-talk or doing anything that might unwind what they’ve being doing the last 12 years – frothing markets with unlimited QE, inappropriate rates, regulation and spin.</p><p><blockquote>美联储今天的观察是为了了解杰罗姆·鲍威尔和他的快乐团伙现在是如何被束缚和绊倒的，因为他们没有因为加息、缩减开支或做任何可能放松他们过去12年所做的事情而惊吓市场——泡沫市场无限量化宽松、不适当的利率、监管和旋转。</blockquote></p><p> <b>The brutal reality is the Central Bankers,&nbsp;</b><b><i>who are all honourable men and women</i></b><b>, understand the levers they pull no longer function as they once did. Why? Well, these honourable men and women have broken the system as a consequence of their actions. Oops. Now they have no choice but to follow.. which means trouble ahead until the global financial system can be resolved.</b></p><p><blockquote><b>残酷的现实是央行行长们，</b><b><i>他们都是可敬的男男女女</i></b><b>，明白他们拉动的杠杆不再像以前那样发挥作用了。为什么？好吧，这些可敬的男人和女人因为他们的行为而打破了这个系统。哎呀。现在他们别无选择，只能跟随..这意味着在全球金融体系得到解决之前，麻烦还在后头。</b></blockquote></p><p> The start reality is Central Banks have no answer to inflation except to hope and carry on. They are caught between the Scylla of Inflation and the Charybdis of a market collapse. Eek! Which is why so many analysts are confident the markets will win out and keep going higher – because central banks have little choice but to go with it and keep up the stimulus.</p><p><blockquote>最初的现实是，央行除了希望和坚持之外，对通胀没有答案。他们被夹在通货膨胀的“锡拉”和市场崩溃的“腹背受敌”之间。哎呀！这就是为什么如此多的分析师相信市场将获胜并继续走高——因为央行别无选择，只能随波逐流并继续刺激。</blockquote></p><p> <b>Most of the market is fixated on what the S&amp;P does this afternoon, what new high the NASDAQ will make this month, or where Amazon is going to top this quarter. They have the vision of a blind man when it comes to anything much beyond the end of their one-year time horizon. Even the bond market seems blind.</b></p><p><blockquote><b>大多数市场关注的是标准普尔指数今天下午的走势、纳斯达克本月将创下什么新高，或者亚马逊本季度将超越何处。当涉及到远远超出他们一年时间范围的任何事情时，他们有一个盲人的视野。甚至债券市场似乎也是盲目的。</b></blockquote></p><p> The reality is investment should be about the long term. If you ignore the future in favour of short-term gains its makes it very easy to dismiss the evidence… that inflation is actually a very, very real issue..</p><p><blockquote>现实是投资应该是长期的。如果你为了短期收益而忽视未来，就很容易忽视证据…通货膨胀实际上是一个非常非常现实的问题..</blockquote></p><p> Lots of smart non-financial assets funds do understand that, and see just how horribly distorted markets have become. That’s why they are so keen to diversify out of corrupted financial assets and into real assets – the hot part of the market (and what I’ve been doing in Alternative Assets for the last 12 years.)</p><p><blockquote>许多聪明的非金融资产基金确实明白这一点，并看到市场已经变得多么扭曲。这就是为什么他们如此热衷于多元化，摆脱腐败的金融资产，进入实物资产——这是市场的热门部分（也是我过去12年来在另类资产领域所做的事情）。</blockquote></p><p></p><p> Going back to inflation, the outlook is complex – another reason such a large part of the financial blogosphere is ignoring it. For instance; it’s possible to argue the rise in commodity prices is a factor of hoarding; manufacturers anticipating a surge Covid recovery and preparing for massive post-pandemic demand. The spikes in commodities from Copper to Lumber are now in reverse – supporting the market’s contention the inflation number is something of an overshoot.</p><p><blockquote>回到通胀，前景很复杂——这也是金融博客圈如此大一部分人忽视通胀的另一个原因。例如；可以说大宗商品价格上涨是囤积的一个因素；制造商预计新冠疫情复苏将激增，并为大流行后的巨大需求做好准备。从铜到木材等大宗商品的飙升现在已经逆转，这支持了市场关于通胀数据有些超调的论点。</blockquote></p><p> <b>Oil is an outlier.</b>OPEC is a monopoly price setter, but is going through yet another of its periodic organisational crisis resulting in a spike that’s proving difficult to hedge. Owning oil is not a pleasant outcome for anyone – as we saw last year when traders found themselves owning negative priced oil when storage was unavailable.</p><p><blockquote><b>石油是一个异常值。</b>欧佩克是垄断价格制定者，但正在经历另一场周期性组织危机，导致价格飙升，事实证明难以对冲。拥有石油对任何人来说都不是一个愉快的结果——正如我们去年看到的那样，当没有储存时，交易员发现自己拥有负价格的石油。</blockquote></p><p> Some of the important underlying trends in the economy – like used cars, where prices are rising. It hints that its details of specific inflation factors in each price that are important. Cars are a good example – we’re all aware of the global shortage of chips enabling car makers to cut production and create scarcity, pushing up new car prices, dragging second hand values higher as consumers seek alternatives. &nbsp;On the other hand – new car prices have been rising for years, with higher costs “justified” by the increasing amount of tech junk put into cars.. As the EU announces it will outlaw new ICE (internal combustion engine) vehicles by 2040, I wonder if we are going to see a new counter-trend develop.</p><p><blockquote>经济中一些重要的潜在趋势——比如二手车，价格正在上涨。它暗示了它的细节，具体的通货膨胀因素在每个价格是重要的。汽车就是一个很好的例子——我们都知道，全球芯片短缺导致汽车制造商减产并造成短缺，推高新车价格，随着消费者寻求替代品，二手车价格上涨。另一方面，新车价格多年来一直在上涨，越来越多的科技垃圾被放入汽车中证明了更高的成本是“合理的”..随着欧盟宣布到2040年将禁止新型ICE（内燃机）汽车，我想知道我们是否会看到新的反趋势发展。</blockquote></p><p> To explain, consider the Land Rover:</p><p><blockquote>为了解释这一点，请考虑路虎：</blockquote></p><p> <ul>  <li>A 10 year-old low milage, full service history, Range Rover in immaculate condition may be worth £16k. A 20 year battered Defender with zero documents is worth £32k! But you can fix it with Gaffa Tape, WD40 and a hammer. (If it moves and shouldn’t: Gaffa tape it. If it still moves; more Gaffa tape. If it doesn’t move: WD40 and persuade it with a hammer.)</li> </ul> <b>However, inflation complacency may be the least of Central Bank worries. You may have spotted an increasing number of breathless articles from around the globe on House Price Inflation.</b></p><p><blockquote><ul><li>一辆拥有10年低里程、完整保养历史、状况完美的路虎揽胜可能价值16,000英镑。一个被打了20年却没有任何证件的卫士价值3.2万英镑！但是你可以用Gaffa胶带，WD40和锤子来固定。（如果它动了，不应该：Gaffa胶带它。如果它仍然动；更多的Gaffa胶带。如果它不动：WD40并用锤子说服它。）</li></ul><b>然而，通胀自满可能是央行最不担心的问题。你可能已经发现了越来越多来自全球各地的关于房价通胀的令人窒息的文章。</b></blockquote></p><p> Everywhere on the planet the affluent classes – those with savings, who’ve done well from lockdown, and already on the property ladder – have been driving an uptick in property. Its debt fuelled and an illiquid market – no one sells till they see what they want to buy, and the ladder is actually a pyramid, with fewer assets on each successively higher rung.</p><p><blockquote>在地球上的任何地方，富裕阶层——那些有储蓄的人，那些在封锁期间过得很好，并且已经在房地产阶梯上的人——一直在推动房地产价格的上涨。它助长了债务和缺乏流动性的市场——没有人会卖出，直到他们看到他们想买的东西，阶梯实际上是一个金字塔，每一个连续更高的梯级上的资产都越来越少。</blockquote></p><p> The result is record home prices nearly everywhere. This week Powell and US Treasury Sec Janet Yellen are going to chat about it at the Financial Stability Oversight Council – a body setup post Global Financial Crisis (“GFC”) in 2010 to identify excessive risks to the US Financial System. About time.. Housing is more frothy than 2007 according to the Case-Shiller US property value index. (Incidentally… so is just about any other market…but, I;ve said that many times before..)</p><p><blockquote>结果是几乎所有地方的房价都创历史新高。本周，鲍威尔和美国财政部Sec珍妮特·耶伦(Janet Yellen)将在金融稳定监督委员会(Financial Stability Oversight Council)上谈论此事，该委员会是2010年全球金融危机(“GFC”)后成立的机构，旨在识别美国金融体系的过度风险。差不多时间了..根据Case-Shiller美国房地产价值指数，房地产泡沫比2007年更大。（顺便说一句……其他市场也是如此……但是，我以前已经说过很多次了……）</blockquote></p><p> Rightly, Janet and Jerome are concerned a second housing bubble bursting could shake the foundations of finance… again. However, this time will be different. The housing market is not vulnerable to a massive number of low-credit-score mortgagees defaulting, but to a large number of affluent middle classes suddenly finding themselves financial stretched, on a rung of the ladder they can’t afford, and sitting on negative equity when the bubble bursts.</p><p><blockquote>珍妮特和杰罗姆担心第二次房地产泡沫破裂可能会再次动摇金融的基础，这是正确的。然而，这一次会有所不同。房地产市场并不容易受到大量低信用评分抵押贷款人违约的影响，而是容易受到大量富裕中产阶级突然发现自己财务捉襟见肘，处于他们负担不起的阶梯上，并坐在负资产上泡沫破裂时。</blockquote></p><p> In the UK, we live with negative equity. In the US, you walk away. Whatever, these consumers consume less.</p><p><blockquote>在英国，我们生活在负资产中。在美国，你走开。不管怎样，这些消费者消费更少。</blockquote></p><p> The structure of the market has also changed. Banks don’t lend anymore. They broke their risks off to the investment sector. In the case of US mortgages – back to government through the Mortgage Backed Bond buyback schemes, and to the non-bank financial institutions than now finance, originate and service mortgages…</p><p><blockquote>市场的结构也发生了变化。银行不再放贷了。他们将风险转移到了投资领域。就美国抵押贷款而言——通过抵押贷款支持债券回购计划返还给政府，并返还给现在融资、发放和服务抵押贷款的非银行金融机构……</blockquote></p><p> <b>This is going to be the really big problem of the next stage of the Global Financial Crisis 2007-2031.</b>Real Assets! Smart money has been loading up on real assets on the basis they are decorrelated from the increasingly corrupted financial asset sector, but they reality is real assets from property, private equity, secured lending, aircraft, shipping, you-name-it, is now getting just as frothy as a result of all that inflation tied up in financial assets now spilling into the real economy…</p><p><blockquote><b>这将是2007-2031年全球金融危机下一阶段的真正大问题。</b>实物资产！聪明的资金一直在买入实物资产，因为它们与日益腐败的金融资产行业无关，但现实是，来自房地产、私募股权、担保贷款、飞机、航运等领域的实物资产，现在都变得越来越泡沫由于所有与金融资产相关的通货膨胀现在蔓延到实体经济……</blockquote></p><p> <b>Financial Asset Inflation has infected the real economy….</b></p><p><blockquote><b>金融资产通胀已经感染了实体经济。</b></blockquote></p><p> Time to think again… All these honourable men and women in Central Banks must dread Caesar’s ghost coming back to haunt the monetary experiment they started in 2010 going so badly wrong…</p><p><blockquote>是时候重新思考了……央行里所有这些可敬的男男女女一定害怕凯撒的鬼魂会回来困扰他们在2010年开始的货币实验，结果却出了如此严重的问题……</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/inflation-next-stage-global-financial-crisis-2007-2031\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/inflation-next-stage-global-financial-crisis-2007-2031","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122873304","content_text":"“The evil that men do lives after them; the good is oft interred with their bones; so be it with Caesar.”\nWhat Inflation? “Oh, that’s nothing to worry about, the central banks have no choice but to keep juicing markets”… The market is so focused on the short-term and ignoring the consequences of the last 10 years of QE, monetary experimentation and easy rates, that its blundering into the next crisis. Inflation matters, and has jumped from financial assets into the real economy.\nI should warn readers this morning’s porridge is going to be yet another of my irregular notes on how the Global Financial Crisis (“GFC”) which began in 2007 is still with us.. We’re just moving on to a new stage… Enjoy Chapter 384 of The Fall of Money – The GFC: 2007-2031.\nThis morning – What inflation?\nHuh? Last week the market convinced itself inflation apparentlywasn’t an issue. Yield curves flattened, bonds tightened, and even though stocks were anticipating the best-ever-earnings-season, there was absolutely nothing to worry about in terms of rising prices… Apparently…\nApparentlyand Absolutely are two very dangerous words in finance… They raise the likelihood you’ve got it completely wrong, ie: Apparently you couldn’t lose, but you did… Returns were Absolutelyguaranteed.. till the company went burst.\nAs we’ve learn’t this morning UK Inflation has risen to 2.5% – raising the prospect of a letter from the Bank explaining why. The headline US CPI data yesterday was even stronger – 5.4% yoy, and 0.9% over the last month! That’s not quite Zimbabwe but… you get the drift… When it happens in Europe… well the Germans are going to have a monumental hissy fit. (Top investment tip: stay long wheelbarrows.)\nInflation matters. Its critical to bonds and long-term returns. The market should look like it’s been slapped with the Wet-Halibut of Rampant Inflation, but, it doesn’t seem to have learnt the lesson. This morning, the financial-commentariat is awash with analysis of how the Fed, BoE and ECB will all hold off from any hint of “taper” response to inflation, in order to keep frothy markets from collapsing.\nFed-Watching used to be the delicate art of understanding the indecipherable nuances of Fed-Speak, forensically dissecting the commentary and numbers and drawing conclusions based on a clear understanding of what was left unsaid and the Fed’s mandate.\nNot today.\nFed watching today is about understanding how Jerome Powell and his merry gang are now hamstrung and tripping over themselves about not spooking markets over rate rises, taper-talk or doing anything that might unwind what they’ve being doing the last 12 years – frothing markets with unlimited QE, inappropriate rates, regulation and spin.\nThe brutal reality is the Central Bankers, who are all honourable men and women, understand the levers they pull no longer function as they once did. Why? Well, these honourable men and women have broken the system as a consequence of their actions. Oops. Now they have no choice but to follow.. which means trouble ahead until the global financial system can be resolved.\nThe start reality is Central Banks have no answer to inflation except to hope and carry on. They are caught between the Scylla of Inflation and the Charybdis of a market collapse. Eek! Which is why so many analysts are confident the markets will win out and keep going higher – because central banks have little choice but to go with it and keep up the stimulus.\nMost of the market is fixated on what the S&P does this afternoon, what new high the NASDAQ will make this month, or where Amazon is going to top this quarter. They have the vision of a blind man when it comes to anything much beyond the end of their one-year time horizon. Even the bond market seems blind.\nThe reality is investment should be about the long term. If you ignore the future in favour of short-term gains its makes it very easy to dismiss the evidence… that inflation is actually a very, very real issue..\nLots of smart non-financial assets funds do understand that, and see just how horribly distorted markets have become. That’s why they are so keen to diversify out of corrupted financial assets and into real assets – the hot part of the market (and what I’ve been doing in Alternative Assets for the last 12 years.)\nGoing back to inflation, the outlook is complex – another reason such a large part of the financial blogosphere is ignoring it. For instance; it’s possible to argue the rise in commodity prices is a factor of hoarding; manufacturers anticipating a surge Covid recovery and preparing for massive post-pandemic demand. The spikes in commodities from Copper to Lumber are now in reverse – supporting the market’s contention the inflation number is something of an overshoot.\nOil is an outlier.OPEC is a monopoly price setter, but is going through yet another of its periodic organisational crisis resulting in a spike that’s proving difficult to hedge. Owning oil is not a pleasant outcome for anyone – as we saw last year when traders found themselves owning negative priced oil when storage was unavailable.\nSome of the important underlying trends in the economy – like used cars, where prices are rising. It hints that its details of specific inflation factors in each price that are important. Cars are a good example – we’re all aware of the global shortage of chips enabling car makers to cut production and create scarcity, pushing up new car prices, dragging second hand values higher as consumers seek alternatives.  On the other hand – new car prices have been rising for years, with higher costs “justified” by the increasing amount of tech junk put into cars.. As the EU announces it will outlaw new ICE (internal combustion engine) vehicles by 2040, I wonder if we are going to see a new counter-trend develop.\nTo explain, consider the Land Rover:\n\nA 10 year-old low milage, full service history, Range Rover in immaculate condition may be worth £16k. A 20 year battered Defender with zero documents is worth £32k! But you can fix it with Gaffa Tape, WD40 and a hammer. (If it moves and shouldn’t: Gaffa tape it. If it still moves; more Gaffa tape. If it doesn’t move: WD40 and persuade it with a hammer.)\n\nHowever, inflation complacency may be the least of Central Bank worries. You may have spotted an increasing number of breathless articles from around the globe on House Price Inflation.\nEverywhere on the planet the affluent classes – those with savings, who’ve done well from lockdown, and already on the property ladder – have been driving an uptick in property. Its debt fuelled and an illiquid market – no one sells till they see what they want to buy, and the ladder is actually a pyramid, with fewer assets on each successively higher rung.\nThe result is record home prices nearly everywhere. This week Powell and US Treasury Sec Janet Yellen are going to chat about it at the Financial Stability Oversight Council – a body setup post Global Financial Crisis (“GFC”) in 2010 to identify excessive risks to the US Financial System. About time.. Housing is more frothy than 2007 according to the Case-Shiller US property value index. (Incidentally… so is just about any other market…but, I;ve said that many times before..)\nRightly, Janet and Jerome are concerned a second housing bubble bursting could shake the foundations of finance… again. However, this time will be different. The housing market is not vulnerable to a massive number of low-credit-score mortgagees defaulting, but to a large number of affluent middle classes suddenly finding themselves financial stretched, on a rung of the ladder they can’t afford, and sitting on negative equity when the bubble bursts.\nIn the UK, we live with negative equity. In the US, you walk away. Whatever, these consumers consume less.\nThe structure of the market has also changed. Banks don’t lend anymore. They broke their risks off to the investment sector. In the case of US mortgages – back to government through the Mortgage Backed Bond buyback schemes, and to the non-bank financial institutions than now finance, originate and service mortgages…\nThis is going to be the really big problem of the next stage of the Global Financial Crisis 2007-2031.Real Assets! Smart money has been loading up on real assets on the basis they are decorrelated from the increasingly corrupted financial asset sector, but they reality is real assets from property, private equity, secured lending, aircraft, shipping, you-name-it, is now getting just as frothy as a result of all that inflation tied up in financial assets now spilling into the real economy…\nFinancial Asset Inflation has infected the real economy….\nTime to think again… All these honourable men and women in Central Banks must dread Caesar’s ghost coming back to haunt the monetary experiment they started in 2010 going so badly wrong…","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144518222,"gmtCreate":1626305840566,"gmtModify":1633928130975,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144518222","repostId":"1153647839","repostType":2,"repost":{"id":"1153647839","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626244543,"share":"https://www.laohu8.com/m/news/1153647839?lang=zh_CN&edition=full","pubTime":"2021-07-14 14:35","market":"us","language":"en","title":"Cathie Wood Trims Nvidia, Shopify Stakes And Piles Up Another $7M In Bitcoin Play Coinbase<blockquote>Cathie Wood削减了Nvidia和Shopify的股份，并在比特币公司Coinbase中再增持700万美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1153647839","media":"Benzinga","summary":"Cathie Wood-led Ark Investment Management on Tuesday shed 785 shares, estimated to be worth about $6","content":"<p>Cathie Wood-led Ark Investment Management on Tuesday shed 785 shares, estimated to be worth about $635,850, in chipmaker<b>Nvidia Corp</b>(NASDAQ:NVDA).</p><p><blockquote>Cathie Wood领导的Ark Investment Management周二减持了这家芯片制造商的785股股票，估计价值约635,850美元<b>英伟达公司</b>（纳斯达克：NVDA）。</blockquote></p><p> Shares of Nvidia, which have risen 54.4% so far this year, closed 1.28% lower at $810 on Tuesday.</p><p><blockquote>英伟达股价今年迄今已上涨54.4%，周二收盘下跌1.28%，至810美元。</blockquote></p><p> The New York-based investment firm deployed the&nbsp;<b>ARK Space Exploration &amp; Innovation ETF</b>(BATS:ARKX) to sell the shares of Nvidia. Ark Invest also holds shares of the chipmaker via the&nbsp;<b>Autonomous Technology &amp; Robotics ETF</b>(BATS:ARKQ).</p><p><blockquote>总部位于纽约的投资公司部署了<b>方舟太空探索与创新ETF</b>（BATS：ARKX）出售英伟达股票。Ark Invest还通过<b>自主技术与机器人ETF</b>（蝙蝠：ARKQ）。</blockquote></p><p> Together the two ETFs held 62,437 NVDA shares, worth $50.57 million, as of Tuesday’s trades.</p><p><blockquote>截至周二交易，这两只ETF合计持有62,437股NVDA股票，价值5,057万美元。</blockquote></p><p> The popular investment firm also shed 16,034 shares, estimated to be worth about $24.3 million, in the Canadian e-commerce company&nbsp;<b>Shopify Inc</b>(NYSE:SHOP).</p><p><blockquote>这家受欢迎的投资公司还减持了这家加拿大电子商务公司的16034股股票，估计价值约2,430万美元<b>Shopify公司</b>（纽约证券交易所代码：SHOP）。</blockquote></p><p> Shopify shares closed 1.44% higher at $1,516.47 on Tuesday.</p><p><blockquote>Shopify股价周二收盘上涨1.44%，至1,516.47美元。</blockquote></p><p> The investment firm sold the shares of Shopify via the<b>ArkNext Generation Internet ETF</b>(NYSE:ARKW) on Tuesday and also holds the stock via the<b>Ark Innovation ETF</b>(NYSE:ARKK) and the<b>Ark Fintech Innovation ETF</b>(NYSE:ARKF).</p><p><blockquote>该投资公司通过<b>方舟下一代互联网ETF</b>（纽约证券交易所股票代码：ARKW）周二，并通过<b>方舟创新ETF</b>（纽约证券交易所代码：ARKK）和<b>方舟金融科技创新ETF</b>（纽约证券交易所代码：ARKF）。</blockquote></p><p> Together, the three ETFs held 1.08 million shares, worth $1.64 billion, in Shopify as of Tuesday’s trades.</p><p><blockquote>截至周二交易，这三只ETF总共持有Shopify 108万股，价值16.4亿美元。</blockquote></p><p> The investment firm snapped up 27,844 shares, estimated to be worth about $6.77 million, in cryptocurrency exchange desk&nbsp;<b>Coinbase Global Inc</b>(NASDAQ:COIN), on the dip.</p><p><blockquote>该投资公司在加密货币交易所抢购了27,844股股票，估计价值约677万美元<b>比特币基地全球公司</b>（纳斯达克：硬币），在下降。</blockquote></p><p> Shares of the cryptocurrency exchange closed 1.76% lower to $243.31 on Tuesday.</p><p><blockquote>该加密货币交易所股价周二收盘下跌1.76%，至243.31美元。</blockquote></p><p> Goldman Sachs earlier this week noted that even if the prices of&nbsp;<b>Bitcoin</b>(CRYPTO: BTC) and other cryptocurrencies were to see further dips, Coinbase willcontinue to benefitfrom the volatility.</p><p><blockquote>高盛本周早些时候指出，即使<b>比特币</b>（CRYPTO：BTC）和其他加密货币将进一步下跌，Coinbase将继续受益于波动。</blockquote></p><p> Ark Invest deployed ARKW to buy the shares of the company on Tuesday and also holds the stock via ARKK and ARKF.</p><p><blockquote>Ark Invest周二部署ARKW购买该公司股票，并通过ARKK和ARKF持有该股票。</blockquote></p><p> Together, the three ETFs held 5.3 million shares, worth $1.29 billion in Coinbase as of Tuesday’s trades.</p><p><blockquote>截至周二交易，这三只ETF总共持有Coinbase 530万股股票，价值12.9亿美元。</blockquote></p><p> Some of the other key Ark Invest sells on Tuesday include&nbsp;<b>JD.COM Inc</b>(NASDAQ:JD) and buys include&nbsp;<b>UiPath Inc</b>(NYSE:PATH).</p><p><blockquote>Ark Invest周二出售的其他一些关键产品包括<b>京东公司</b>（纳斯达克：JD）购买包括<b>UiPath公司</b>（纽约证券交易所代码：PATH）。</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>Cathie Wood Trims Nvidia, Shopify Stakes And Piles Up Another $7M In Bitcoin Play Coinbase<blockquote>Cathie Wood削减了Nvidia和Shopify的股份，并在比特币公司Coinbase中再增持700万美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Trims Nvidia, Shopify Stakes And Piles Up Another $7M In Bitcoin Play Coinbase<blockquote>Cathie Wood削减了Nvidia和Shopify的股份，并在比特币公司Coinbase中再增持700万美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-07-14 14:35</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Cathie Wood-led Ark Investment Management on Tuesday shed 785 shares, estimated to be worth about $635,850, in chipmaker<b>Nvidia Corp</b>(NASDAQ:NVDA).</p><p><blockquote>Cathie Wood领导的Ark Investment Management周二减持了这家芯片制造商的785股股票，估计价值约635,850美元<b>英伟达公司</b>（纳斯达克：NVDA）。</blockquote></p><p> Shares of Nvidia, which have risen 54.4% so far this year, closed 1.28% lower at $810 on Tuesday.</p><p><blockquote>英伟达股价今年迄今已上涨54.4%，周二收盘下跌1.28%，至810美元。</blockquote></p><p> The New York-based investment firm deployed the&nbsp;<b>ARK Space Exploration &amp; Innovation ETF</b>(BATS:ARKX) to sell the shares of Nvidia. Ark Invest also holds shares of the chipmaker via the&nbsp;<b>Autonomous Technology &amp; Robotics ETF</b>(BATS:ARKQ).</p><p><blockquote>总部位于纽约的投资公司部署了<b>方舟太空探索与创新ETF</b>（BATS：ARKX）出售英伟达股票。Ark Invest还通过<b>自主技术与机器人ETF</b>（蝙蝠：ARKQ）。</blockquote></p><p> Together the two ETFs held 62,437 NVDA shares, worth $50.57 million, as of Tuesday’s trades.</p><p><blockquote>截至周二交易，这两只ETF合计持有62,437股NVDA股票，价值5,057万美元。</blockquote></p><p> The popular investment firm also shed 16,034 shares, estimated to be worth about $24.3 million, in the Canadian e-commerce company&nbsp;<b>Shopify Inc</b>(NYSE:SHOP).</p><p><blockquote>这家受欢迎的投资公司还减持了这家加拿大电子商务公司的16034股股票，估计价值约2,430万美元<b>Shopify公司</b>（纽约证券交易所代码：SHOP）。</blockquote></p><p> Shopify shares closed 1.44% higher at $1,516.47 on Tuesday.</p><p><blockquote>Shopify股价周二收盘上涨1.44%，至1,516.47美元。</blockquote></p><p> The investment firm sold the shares of Shopify via the<b>ArkNext Generation Internet ETF</b>(NYSE:ARKW) on Tuesday and also holds the stock via the<b>Ark Innovation ETF</b>(NYSE:ARKK) and the<b>Ark Fintech Innovation ETF</b>(NYSE:ARKF).</p><p><blockquote>该投资公司通过<b>方舟下一代互联网ETF</b>（纽约证券交易所股票代码：ARKW）周二，并通过<b>方舟创新ETF</b>（纽约证券交易所代码：ARKK）和<b>方舟金融科技创新ETF</b>（纽约证券交易所代码：ARKF）。</blockquote></p><p> Together, the three ETFs held 1.08 million shares, worth $1.64 billion, in Shopify as of Tuesday’s trades.</p><p><blockquote>截至周二交易，这三只ETF总共持有Shopify 108万股，价值16.4亿美元。</blockquote></p><p> The investment firm snapped up 27,844 shares, estimated to be worth about $6.77 million, in cryptocurrency exchange desk&nbsp;<b>Coinbase Global Inc</b>(NASDAQ:COIN), on the dip.</p><p><blockquote>该投资公司在加密货币交易所抢购了27,844股股票，估计价值约677万美元<b>比特币基地全球公司</b>（纳斯达克：硬币），在下降。</blockquote></p><p> Shares of the cryptocurrency exchange closed 1.76% lower to $243.31 on Tuesday.</p><p><blockquote>该加密货币交易所股价周二收盘下跌1.76%，至243.31美元。</blockquote></p><p> Goldman Sachs earlier this week noted that even if the prices of&nbsp;<b>Bitcoin</b>(CRYPTO: BTC) and other cryptocurrencies were to see further dips, Coinbase willcontinue to benefitfrom the volatility.</p><p><blockquote>高盛本周早些时候指出，即使<b>比特币</b>（CRYPTO：BTC）和其他加密货币将进一步下跌，Coinbase将继续受益于波动。</blockquote></p><p> Ark Invest deployed ARKW to buy the shares of the company on Tuesday and also holds the stock via ARKK and ARKF.</p><p><blockquote>Ark Invest周二部署ARKW购买该公司股票，并通过ARKK和ARKF持有该股票。</blockquote></p><p> Together, the three ETFs held 5.3 million shares, worth $1.29 billion in Coinbase as of Tuesday’s trades.</p><p><blockquote>截至周二交易，这三只ETF总共持有Coinbase 530万股股票，价值12.9亿美元。</blockquote></p><p> Some of the other key Ark Invest sells on Tuesday include&nbsp;<b>JD.COM Inc</b>(NASDAQ:JD) and buys include&nbsp;<b>UiPath Inc</b>(NYSE:PATH).</p><p><blockquote>Ark Invest周二出售的其他一些关键产品包括<b>京东公司</b>（纳斯达克：JD）购买包括<b>UiPath公司</b>（纽约证券交易所代码：PATH）。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","SHOP":"Shopify Inc","NVDA":"英伟达"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153647839","content_text":"Cathie Wood-led Ark Investment Management on Tuesday shed 785 shares, estimated to be worth about $635,850, in chipmakerNvidia Corp(NASDAQ:NVDA).\nShares of Nvidia, which have risen 54.4% so far this year, closed 1.28% lower at $810 on Tuesday.\nThe New York-based investment firm deployed the ARK Space Exploration & Innovation ETF(BATS:ARKX) to sell the shares of Nvidia. Ark Invest also holds shares of the chipmaker via the Autonomous Technology & Robotics ETF(BATS:ARKQ).\nTogether the two ETFs held 62,437 NVDA shares, worth $50.57 million, as of Tuesday’s trades.\nThe popular investment firm also shed 16,034 shares, estimated to be worth about $24.3 million, in the Canadian e-commerce company Shopify Inc(NYSE:SHOP).\nShopify shares closed 1.44% higher at $1,516.47 on Tuesday.\nThe investment firm sold the shares of Shopify via theArkNext Generation Internet ETF(NYSE:ARKW) on Tuesday and also holds the stock via theArk Innovation ETF(NYSE:ARKK) and theArk Fintech Innovation ETF(NYSE:ARKF).\nTogether, the three ETFs held 1.08 million shares, worth $1.64 billion, in Shopify as of Tuesday’s trades.\nThe investment firm snapped up 27,844 shares, estimated to be worth about $6.77 million, in cryptocurrency exchange desk Coinbase Global Inc(NASDAQ:COIN), on the dip.\nShares of the cryptocurrency exchange closed 1.76% lower to $243.31 on Tuesday.\nGoldman Sachs earlier this week noted that even if the prices of Bitcoin(CRYPTO: BTC) and other cryptocurrencies were to see further dips, Coinbase willcontinue to benefitfrom the volatility.\nArk Invest deployed ARKW to buy the shares of the company on Tuesday and also holds the stock via ARKK and ARKF.\nTogether, the three ETFs held 5.3 million shares, worth $1.29 billion in Coinbase as of Tuesday’s trades.\nSome of the other key Ark Invest sells on Tuesday include JD.COM Inc(NASDAQ:JD) and buys include UiPath Inc(NYSE:PATH).","news_type":1,"symbols_score_info":{"SHOP":0.9,"NVDA":0.9,"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":195,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":171352595,"gmtCreate":1626707930917,"gmtModify":1631891540067,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Cos blue origin oso going to space n lift the entire industry? When u tink competition gonna crumple n it turns out win win.","listText":"Cos blue origin oso going to space n lift the entire industry? When u tink competition gonna crumple n it turns out win win.","text":"Cos blue origin oso going to space n lift the entire industry? When u tink competition gonna crumple n it turns out win win.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171352595","repostId":"1114662059","repostType":4,"repost":{"id":"1114662059","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":1626704591,"share":"https://www.laohu8.com/m/news/1114662059?lang=zh_CN&edition=full","pubTime":"2021-07-19 22:23","market":"us","language":"en","title":"Virgin Galactic surged over 5% in morning trading<blockquote>维珍银河早盘飙升逾5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114662059","media":"Tiger Newspress","summary":"(July 19) Virgin Galactic surged over 5% in morning trading.","content":"<p>(July 19)&nbsp;Virgin Galactic surged over 5% in morning trading.</p><p><blockquote>（7月19日）维珍银河早盘大涨超5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b8f94a7f1c7d417d76de1d48eeab69bb\" tg-width=\"709\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></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>Virgin Galactic surged over 5% in morning trading<blockquote>维珍银河早盘飙升逾5%</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\">\nVirgin Galactic surged over 5% in morning trading<blockquote>维珍银河早盘飙升逾5%</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\">2021-07-19 22:23</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(July 19)&nbsp;Virgin Galactic surged over 5% in morning trading.</p><p><blockquote>（7月19日）维珍银河早盘大涨超5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b8f94a7f1c7d417d76de1d48eeab69bb\" tg-width=\"709\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114662059","content_text":"(July 19) Virgin Galactic surged over 5% in morning trading.","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":2428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179784225,"gmtCreate":1626577579867,"gmtModify":1631893839291,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Wow when is our turn next","listText":"Wow when is our turn next","text":"Wow when is our turn next","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/179784225","repostId":"2152968147","repostType":4,"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177232751,"gmtCreate":1627221421873,"gmtModify":1631891540050,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Hopeful!!","listText":"Hopeful!!","text":"Hopeful!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/177232751","repostId":"2153936352","repostType":4,"isVote":1,"tweetType":1,"viewCount":2553,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174738042,"gmtCreate":1627137530586,"gmtModify":1631891540057,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Y savvy move stock nv climb?","listText":"Y savvy move stock nv climb?","text":"Y savvy move stock nv climb?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/174738042","repostId":"1109439356","repostType":4,"isVote":1,"tweetType":1,"viewCount":1477,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147888976,"gmtCreate":1626349994095,"gmtModify":1631893839305,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"How can compare with 1999? No covid back then no pent up IPOs. Crash says for many yrs n iwaited till now oso no crash to throw my fortune in.","listText":"How can compare with 1999? No covid back then no pent up IPOs. Crash says for many yrs n iwaited till now oso no crash to throw my fortune in.","text":"How can compare with 1999? No covid back then no pent up IPOs. Crash says for many yrs n iwaited till now oso no crash to throw my fortune in.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/147888976","repostId":"1190703857","repostType":4,"isVote":1,"tweetType":1,"viewCount":451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142761911,"gmtCreate":1626177648033,"gmtModify":1633929389078,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Is the trick to sell b4 earnings release? Y exceed earnings yet pre market drop","listText":"Is the trick to sell b4 earnings release? Y exceed earnings yet pre market drop","text":"Is the trick to sell b4 earnings release? Y exceed earnings yet pre market drop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/142761911","repostId":"2151568746","repostType":4,"isVote":1,"tweetType":1,"viewCount":384,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172693185,"gmtCreate":1626957025847,"gmtModify":1631891540057,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Go Elon go","listText":"Go Elon go","text":"Go Elon go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172693185","repostId":"1127427732","repostType":4,"repost":{"id":"1127427732","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":1626954531,"share":"https://www.laohu8.com/m/news/1127427732?lang=zh_CN&edition=full","pubTime":"2021-07-22 19:48","market":"us","language":"en","title":"Toplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127427732","media":"Tiger Newspress","summary":"(Julr 22) Stock futures advanced on Thursday, with investors looking to earnings and data for impetu","content":"<p>(Julr&nbsp;22)&nbsp;Stock futures advanced on Thursday, with investors looking to earnings and data for impetus to extend a 2-day rally that wiped out losses sustained during the worst trading day of 2021.</p><p><blockquote>（7月22日）股指期货周四上涨，投资者寻求收益和数据的动力，以延续两天的涨势，抹去了2021年最糟糕交易日的跌幅。</blockquote></p><p> At 7:54 a.m. ET, Dow E-minis were up 47 points, or 0.14%, S&amp;P 500 E-minis were up 6.5&nbsp;points, or 0.15% and Nasdaq 100 E-minis rose 28.75 points, or 0.19%.&nbsp;</p><p><blockquote>截至美国东部时间上午7:54，道指E-minis上涨47点，涨幅0.14%，标普500 E-minis上涨6.5点，涨幅0.15%，纳斯达克100 E-minis上涨28.75点，涨幅0.19%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6f0ee7363c9fe8efde482515ffff79ac\" tg-width=\"1242\" tg-height=\"538\" referrerpolicy=\"no-referrer\">The turnaround from the Monday selloff shows “corporations have been very resilient through all this,”&nbsp;David Mazza, Direxion head of product, said on Bloomberg Television. “Earnings estimates are quite remarkable, probably some of the best on record. Even through all this, we have central-bank liquidity remaining very abundant, economic growth being robust.”</p><p><blockquote>Direxion产品主管David Mazza在彭博电视台表示，周一抛售的好转表明“企业在这一切中表现得非常有弹性”。“盈利预期相当出色，可能是有记录以来最好的之一。尽管如此，我们的央行流动性仍然非常充裕，经济增长强劲。”</blockquote></p><p> Energy and mega-cap tech stocks gained ahead of a new batch of earnings reports, the latest initial claims data and the first ECB meeting to incorporate the bank's new strategic review.&nbsp;Energy stocks Chevron Corp, Exxon Mobil, Schlumberger NV, Occidental Petroleum and Marathon Petroleum Corp climbed between 0.1% and 1%, tracking crude prices.</p><p><blockquote>在新一批收益报告、最新的首次申请失业救济数据以及欧洲央行首次会议纳入该行新的战略评估之前，能源股和大型科技股上涨。能源股雪佛龙公司、埃克森美孚公司、斯伦贝谢公司、西方石油公司和马拉松石油公司上涨0.1%至1%，跟踪原油价格。</blockquote></p><p> Some other notable pre-market movers:</p><p><blockquote>其他一些值得注意的盘前推动者：</blockquote></p><p> <ul>  <li>Didi Global (DIDI) drops 3% in&nbsp;premarket&nbsp;trading after people familiar with the matter said Chinese regulators are considering serious, perhaps unprecedented, penalties for for the ride-hailing giant after its controversial initial public offering last month.</li>  <li>Texas Instruments (TXN) drops 4.8% after third-quarter sales and profit forecasts left analysts disappointed, with Barclays saying the “flat outlook leaves little to live for this late in the cycle.”</li>  <li>AT&amp;T (T) added 0.9% as the telecom operator beat analysts’ estimates for monthly phone bill paying subscriber additions in the second quarter, fueled by more Americans converting to 5G phones.</li>  <li>Dow (DOW) rose 1.3% after its second-quarter profit doubled from the first, as prices for its chemicals used in plastics and packaging rose on the back of strong consumer and industrial demand as well as lower inventories.</li>  <li><a href=\"https://laohu8.com/S/CEMI\">Chembio Diagnostics</a> (CEMI) gains 9.9% and <a href=\"https://laohu8.com/S/NURO\">NeuroMetrix</a> (NURO) surges 33% amid discussions on message boards at Reddit and StockTwits.</li> </ul> Elsewhere, the Labor Department’s report, due at 8:30 a.m. ET, is expected to show the number of Americans filing new claims for unemployment benefits fell to 350K (from 360K) for the week ended July 17, amid rampant worker shortages. Investors have been closely following the health of the jobs market on which monetary policy hinges, especially after a series of higher inflation reading recently sparked fears about a sooner-than expected paring of policy support as the economy reopens.</p><p><blockquote><ul><li>滴滴出行(DIDI)在盘前交易中下跌3%，此前知情人士表示，中国监管机构正在考虑对这家网约车巨头在上个月备受争议的首次公开募股后实施严厉的、或许是前所未有的处罚。</li><li>德州仪器(TXN)第三季度销售和利润预测令分析师失望，股价下跌4.8%，巴克莱银行表示“前景平淡，在周期后期几乎没有什么可生存的了”。</li><li>AT&amp;T(T)股价上涨0.9%，由于更多美国人转向5G手机，该电信运营商第二季度每月电话费支付用户数量超出了分析师的预期。</li><li>陶氏化学(DOW)第二季度利润较第一季度翻倍，上涨1.3%，因消费者和工业需求强劲以及库存下降导致其用于塑料和包装的化学品价格上涨。</li><li><a href=\"https://laohu8.com/S/CEMI\">化学诊断学</a>(CEMI)上涨9.9%<a href=\"https://laohu8.com/S/NURO\">神经度量</a>在Reddit和StockTwits留言板上的讨论中，(NURO)飙升33%。</li></ul>在其他地方，劳工部将于美国东部时间上午8:30发布的报告预计将显示，由于工人严重短缺，截至7月17日当周，美国新申请失业救济的人数从36万降至35万。投资者一直在密切关注货币政策所依赖的就业市场的健康状况，特别是在最近一系列较高的通胀数据引发了人们对经济重新开放时政策支持将比预期更早削减的担忧之后。</blockquote></p><p> Bitcoin briefly rose above $32,000 after getting a boost from Elon Musk, who said his space exploration company SpaceX owns the digital token.</p><p><blockquote>在获得埃隆·马斯克(Elon Musk)的提振后，比特币股价短暂升破32,000美元，埃隆·马斯克表示，他的太空探索公司SpaceX拥有该数字代币。</blockquote></p><p> In commodities oil hung on to most of Wednesday's sharp price rise, its biggest one-day gain in three months. Brent crude futures were last 0.4% softer at $71.94 a barrel, but had gained more than 4% on Wednesday. Gold was steady at $1,801 an ounce and cryptocurrencies were firm after bouncing from lows when Tesla boss Elon Musk said the carmaker would likely restart accepting bitcoin payments after due diligence on its energy use.</p><p><blockquote>大宗商品方面，石油延续了周三价格大幅上涨的大部分时间，创下三个月来最大单日涨幅。布伦特原油期货最近下跌0.4%，至每桶71.94美元，但周三上涨超过4%。金价稳定在每盎司1,801美元，加密货币在从低点反弹后坚挺，当时特斯拉老板Elon Musk表示，在对其能源使用进行尽职调查后，该汽车制造商可能会重新开始接受比特币付款。</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 Thursday<blockquote>周四美国市场开盘前的营收</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\">\nToplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</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\">2021-07-22 19:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Julr&nbsp;22)&nbsp;Stock futures advanced on Thursday, with investors looking to earnings and data for impetus to extend a 2-day rally that wiped out losses sustained during the worst trading day of 2021.</p><p><blockquote>（7月22日）股指期货周四上涨，投资者寻求收益和数据的动力，以延续两天的涨势，抹去了2021年最糟糕交易日的跌幅。</blockquote></p><p> At 7:54 a.m. ET, Dow E-minis were up 47 points, or 0.14%, S&amp;P 500 E-minis were up 6.5&nbsp;points, or 0.15% and Nasdaq 100 E-minis rose 28.75 points, or 0.19%.&nbsp;</p><p><blockquote>截至美国东部时间上午7:54，道指E-minis上涨47点，涨幅0.14%，标普500 E-minis上涨6.5点，涨幅0.15%，纳斯达克100 E-minis上涨28.75点，涨幅0.19%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6f0ee7363c9fe8efde482515ffff79ac\" tg-width=\"1242\" tg-height=\"538\" referrerpolicy=\"no-referrer\">The turnaround from the Monday selloff shows “corporations have been very resilient through all this,”&nbsp;David Mazza, Direxion head of product, said on Bloomberg Television. “Earnings estimates are quite remarkable, probably some of the best on record. Even through all this, we have central-bank liquidity remaining very abundant, economic growth being robust.”</p><p><blockquote>Direxion产品主管David Mazza在彭博电视台表示，周一抛售的好转表明“企业在这一切中表现得非常有弹性”。“盈利预期相当出色，可能是有记录以来最好的之一。尽管如此，我们的央行流动性仍然非常充裕，经济增长强劲。”</blockquote></p><p> Energy and mega-cap tech stocks gained ahead of a new batch of earnings reports, the latest initial claims data and the first ECB meeting to incorporate the bank's new strategic review.&nbsp;Energy stocks Chevron Corp, Exxon Mobil, Schlumberger NV, Occidental Petroleum and Marathon Petroleum Corp climbed between 0.1% and 1%, tracking crude prices.</p><p><blockquote>在新一批收益报告、最新的首次申请失业救济数据以及欧洲央行首次会议纳入该行新的战略评估之前，能源股和大型科技股上涨。能源股雪佛龙公司、埃克森美孚公司、斯伦贝谢公司、西方石油公司和马拉松石油公司上涨0.1%至1%，跟踪原油价格。</blockquote></p><p> Some other notable pre-market movers:</p><p><blockquote>其他一些值得注意的盘前推动者：</blockquote></p><p> <ul>  <li>Didi Global (DIDI) drops 3% in&nbsp;premarket&nbsp;trading after people familiar with the matter said Chinese regulators are considering serious, perhaps unprecedented, penalties for for the ride-hailing giant after its controversial initial public offering last month.</li>  <li>Texas Instruments (TXN) drops 4.8% after third-quarter sales and profit forecasts left analysts disappointed, with Barclays saying the “flat outlook leaves little to live for this late in the cycle.”</li>  <li>AT&amp;T (T) added 0.9% as the telecom operator beat analysts’ estimates for monthly phone bill paying subscriber additions in the second quarter, fueled by more Americans converting to 5G phones.</li>  <li>Dow (DOW) rose 1.3% after its second-quarter profit doubled from the first, as prices for its chemicals used in plastics and packaging rose on the back of strong consumer and industrial demand as well as lower inventories.</li>  <li><a href=\"https://laohu8.com/S/CEMI\">Chembio Diagnostics</a> (CEMI) gains 9.9% and <a href=\"https://laohu8.com/S/NURO\">NeuroMetrix</a> (NURO) surges 33% amid discussions on message boards at Reddit and StockTwits.</li> </ul> Elsewhere, the Labor Department’s report, due at 8:30 a.m. ET, is expected to show the number of Americans filing new claims for unemployment benefits fell to 350K (from 360K) for the week ended July 17, amid rampant worker shortages. Investors have been closely following the health of the jobs market on which monetary policy hinges, especially after a series of higher inflation reading recently sparked fears about a sooner-than expected paring of policy support as the economy reopens.</p><p><blockquote><ul><li>滴滴出行(DIDI)在盘前交易中下跌3%，此前知情人士表示，中国监管机构正在考虑对这家网约车巨头在上个月备受争议的首次公开募股后实施严厉的、或许是前所未有的处罚。</li><li>德州仪器(TXN)第三季度销售和利润预测令分析师失望，股价下跌4.8%，巴克莱银行表示“前景平淡，在周期后期几乎没有什么可生存的了”。</li><li>AT&amp;T(T)股价上涨0.9%，由于更多美国人转向5G手机，该电信运营商第二季度每月电话费支付用户数量超出了分析师的预期。</li><li>陶氏化学(DOW)第二季度利润较第一季度翻倍，上涨1.3%，因消费者和工业需求强劲以及库存下降导致其用于塑料和包装的化学品价格上涨。</li><li><a href=\"https://laohu8.com/S/CEMI\">化学诊断学</a>(CEMI)上涨9.9%<a href=\"https://laohu8.com/S/NURO\">神经度量</a>在Reddit和StockTwits留言板上的讨论中，(NURO)飙升33%。</li></ul>在其他地方，劳工部将于美国东部时间上午8:30发布的报告预计将显示，由于工人严重短缺，截至7月17日当周，美国新申请失业救济的人数从36万降至35万。投资者一直在密切关注货币政策所依赖的就业市场的健康状况，特别是在最近一系列较高的通胀数据引发了人们对经济重新开放时政策支持将比预期更早削减的担忧之后。</blockquote></p><p> Bitcoin briefly rose above $32,000 after getting a boost from Elon Musk, who said his space exploration company SpaceX owns the digital token.</p><p><blockquote>在获得埃隆·马斯克(Elon Musk)的提振后，比特币股价短暂升破32,000美元，埃隆·马斯克表示，他的太空探索公司SpaceX拥有该数字代币。</blockquote></p><p> In commodities oil hung on to most of Wednesday's sharp price rise, its biggest one-day gain in three months. Brent crude futures were last 0.4% softer at $71.94 a barrel, but had gained more than 4% on Wednesday. Gold was steady at $1,801 an ounce and cryptocurrencies were firm after bouncing from lows when Tesla boss Elon Musk said the carmaker would likely restart accepting bitcoin payments after due diligence on its energy use.</p><p><blockquote>大宗商品方面，石油延续了周三价格大幅上涨的大部分时间，创下三个月来最大单日涨幅。布伦特原油期货最近下跌0.4%，至每桶71.94美元，但周三上涨超过4%。金价稳定在每盎司1,801美元，加密货币在从低点反弹后坚挺，当时特斯拉老板Elon Musk表示，在对其能源使用进行尽职调查后，该汽车制造商可能会重新开始接受比特币付款。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127427732","content_text":"(Julr 22) Stock futures advanced on Thursday, with investors looking to earnings and data for impetus to extend a 2-day rally that wiped out losses sustained during the worst trading day of 2021.\nAt 7:54 a.m. ET, Dow E-minis were up 47 points, or 0.14%, S&P 500 E-minis were up 6.5 points, or 0.15% and Nasdaq 100 E-minis rose 28.75 points, or 0.19%. \nThe turnaround from the Monday selloff shows “corporations have been very resilient through all this,” David Mazza, Direxion head of product, said on Bloomberg Television. “Earnings estimates are quite remarkable, probably some of the best on record. Even through all this, we have central-bank liquidity remaining very abundant, economic growth being robust.”\nEnergy and mega-cap tech stocks gained ahead of a new batch of earnings reports, the latest initial claims data and the first ECB meeting to incorporate the bank's new strategic review. Energy stocks Chevron Corp, Exxon Mobil, Schlumberger NV, Occidental Petroleum and Marathon Petroleum Corp climbed between 0.1% and 1%, tracking crude prices.\nSome other notable pre-market movers:\n\nDidi Global (DIDI) drops 3% in premarket trading after people familiar with the matter said Chinese regulators are considering serious, perhaps unprecedented, penalties for for the ride-hailing giant after its controversial initial public offering last month.\nTexas Instruments (TXN) drops 4.8% after third-quarter sales and profit forecasts left analysts disappointed, with Barclays saying the “flat outlook leaves little to live for this late in the cycle.”\nAT&T (T) added 0.9% as the telecom operator beat analysts’ estimates for monthly phone bill paying subscriber additions in the second quarter, fueled by more Americans converting to 5G phones.\nDow (DOW) rose 1.3% after its second-quarter profit doubled from the first, as prices for its chemicals used in plastics and packaging rose on the back of strong consumer and industrial demand as well as lower inventories.\nChembio Diagnostics (CEMI) gains 9.9% and NeuroMetrix (NURO) surges 33% amid discussions on message boards at Reddit and StockTwits.\n\nElsewhere, the Labor Department’s report, due at 8:30 a.m. ET, is expected to show the number of Americans filing new claims for unemployment benefits fell to 350K (from 360K) for the week ended July 17, amid rampant worker shortages. Investors have been closely following the health of the jobs market on which monetary policy hinges, especially after a series of higher inflation reading recently sparked fears about a sooner-than expected paring of policy support as the economy reopens.\nBitcoin briefly rose above $32,000 after getting a boost from Elon Musk, who said his space exploration company SpaceX owns the digital token.\nIn commodities oil hung on to most of Wednesday's sharp price rise, its biggest one-day gain in three months. Brent crude futures were last 0.4% softer at $71.94 a barrel, but had gained more than 4% on Wednesday. Gold was steady at $1,801 an ounce and cryptocurrencies were firm after bouncing from lows when Tesla boss Elon Musk said the carmaker would likely restart accepting bitcoin payments after due diligence on its energy use.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803756223,"gmtCreate":1627466974762,"gmtModify":1631891540039,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Hmm...","listText":"Hmm...","text":"Hmm...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803756223","repostId":"1181811581","repostType":4,"isVote":1,"tweetType":1,"viewCount":2736,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174736808,"gmtCreate":1627137706704,"gmtModify":1631891540053,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Izzit too late to buy now?","listText":"Izzit too late to buy now?","text":"Izzit too late to buy now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/174736808","repostId":"2153989989","repostType":4,"isVote":1,"tweetType":1,"viewCount":2589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174041573,"gmtCreate":1627054234592,"gmtModify":1631891540055,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Izzit too late to jump in now?","listText":"Izzit too late to jump in now?","text":"Izzit too late to jump in now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/174041573","repostId":"1152547448","repostType":4,"isVote":1,"tweetType":1,"viewCount":3055,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147958789,"gmtCreate":1626329626041,"gmtModify":1631893839313,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Izzit juz me. Dun understand. *shrugs*","listText":"Izzit juz me. Dun understand. *shrugs*","text":"Izzit juz me. Dun understand. *shrugs*","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/147958789","repostId":"1122873304","repostType":4,"repost":{"id":"1122873304","kind":"news","pubTimestamp":1626320892,"share":"https://www.laohu8.com/m/news/1122873304?lang=zh_CN&edition=full","pubTime":"2021-07-15 11:48","market":"us","language":"en","title":"Inflation: The Next Stage Of The Global Financial Crisis 2007-2031<blockquote>通货膨胀：2007-2031年全球金融危机的下一阶段</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122873304","media":"zerohedge","summary":"“The evil that men do lives after them; the good is oft interred with their bones; so be it with Caesar.”“Oh, that’s nothing to worry about, the central banks have no choice but to keep juicing markets”…The market is so focused on the short-term and ignoring the consequences of the last 10 years of QE, monetary experimentation and easy rates, that its blundering into the next crisis. Inflation matters, and has jumped from financial assets into the real economy.I should warn readers this morning’","content":"<p><i>“The evil that men do lives after them; the good is oft interred with their bones; so be it with Caesar.”</i></p><p><blockquote><i>“人所行的恶，必后生；善人常与尸骨一同埋葬。凯撒也是如此。”</i></blockquote></p><p> <b><i>What Inflation? “Oh, that’s nothing to worry about, the central banks have no choice but to keep juicing markets”… The market is so focused on the short-term and ignoring the consequences of the last 10 years of QE, monetary experimentation and easy rates, that its blundering into the next crisis. Inflation matters, and has jumped from financial assets into the real economy.</i></b></p><p><blockquote><b><i>什么通货膨胀？“哦，这没什么好担心的，央行别无选择，只能继续刺激市场”……市场如此关注短期，忽视了过去10年量化宽松、货币实验和宽松利率的后果，以至于它陷入了下一场危机。通货膨胀很重要，而且已经从金融资产跳到了实体经济。</i></b></blockquote></p><p> <i>I should warn readers this morning’s porridge is going to be yet another of my irregular notes on how the Global Financial Crisis (“GFC”) which began in 2007 is still with us.. We’re just moving on to a new stage… Enjoy Chapter 384 of&nbsp;The Fall of Money – The GFC: 2007-2031.</i></p><p><blockquote><i>我应该警告读者，今天早上的粥将是我关于2007年开始的全球金融危机（“GFC”）如何仍然伴随着我们的又一次不定期笔记..我们正在进入一个新的阶段……欣赏《金钱的陨落——GFC：2007-2031》的第384章。</i></blockquote></p><p> This morning – What inflation?</p><p><blockquote>今天早上——什么通货膨胀？</blockquote></p><p> Huh? Last week the market convinced itself inflation&nbsp;<i><u>apparently</u></i>wasn’t an issue. Yield curves flattened, bonds tightened, and even though stocks were anticipating the best-ever-earnings-season, there was&nbsp;<i><u>absolutely</u></i>&nbsp;nothing to worry about in terms of rising prices… Apparently…</p><p><blockquote>啊？上周市场确信通胀<i><u>显然</u></i>不是问题。收益率曲线变平，债券收紧，尽管股市预计将迎来有史以来最好的财报季，但<i><u>绝对地</u></i>价格上涨没什么可担心的……显然……</blockquote></p><p> <b>Apparently</b>and&nbsp;<b>Absolutely</b>&nbsp;are two very dangerous words in finance… They raise the likelihood you’ve got it completely wrong, ie:&nbsp;<i>Apparently</i>&nbsp;you couldn’t lose, but you did… Returns were&nbsp;<i>Absolutely</i>guaranteed.. till the company went burst.</p><p><blockquote><b>显然</b>和<b>绝对地</b>在金融领域是两个非常危险的词……它们增加了你完全弄错的可能性，即：<i>显然</i>你不能输，但你输了……回报是<i>绝对地</i>保证..直到公司倒闭。</blockquote></p><p> As we’ve learn’t this morning UK Inflation has risen to 2.5% – raising the prospect of a letter from the Bank explaining why. The headline US CPI data yesterday was even stronger – 5.4% yoy, and 0.9% over the last month! That’s not quite Zimbabwe but… you get the drift… When it happens in Europe… well the Germans are going to have a monumental hissy fit. (Top investment tip: stay long wheelbarrows.)</p><p><blockquote>正如我们今天早上了解到的那样，英国通胀率已升至2.5%，这增加了央行致函解释原因的可能性。昨天的总体美国CPI数据甚至更强劲——同比增长5.4%，环比增长0.9%！这不完全是津巴布韦，但是…你明白了…当它发生在欧洲时…德国人会大发脾气。（顶级投资提示：长期使用独轮车。）</blockquote></p><p> Inflation matters. Its critical to bonds and long-term returns. The market should look like it’s been slapped with the Wet-Halibut of Rampant Inflation, but, it doesn’t seem to have learnt the lesson. This morning, the financial-commentariat is awash with analysis of how the Fed, BoE and ECB will all hold off from any hint of “taper” response to inflation, in order to keep frothy markets from collapsing.</p><p><blockquote>通货膨胀很重要。这对债券和长期回报至关重要。市场应该看起来像是被猖獗的通胀打了一巴掌，但是，它似乎还没有吸取教训。今天早上，金融评论充斥着对美联储、英国央行和欧洲央行将如何避免对通胀做出任何“缩减”反应的暗示，以防止泡沫市场崩溃的分析。</blockquote></p><p> Fed-Watching used to be the delicate art of understanding the indecipherable nuances of Fed-Speak, forensically dissecting the commentary and numbers and drawing conclusions based on a clear understanding of what was left unsaid and the Fed’s mandate.</p><p><blockquote>观察美联储曾经是一门微妙的艺术，可以理解美联储言论中难以理解的细微差别，对评论和数字进行法医剖析，并根据对未说的话和美联储使命的清晰理解得出结论。</blockquote></p><p> Not today.</p><p><blockquote>今天不行。</blockquote></p><p> Fed watching today is about understanding how Jerome Powell and his merry gang are now hamstrung and tripping over themselves about not spooking markets over rate rises, taper-talk or doing anything that might unwind what they’ve being doing the last 12 years – frothing markets with unlimited QE, inappropriate rates, regulation and spin.</p><p><blockquote>美联储今天的观察是为了了解杰罗姆·鲍威尔和他的快乐团伙现在是如何被束缚和绊倒的，因为他们没有因为加息、缩减开支或做任何可能放松他们过去12年所做的事情而惊吓市场——泡沫市场无限量化宽松、不适当的利率、监管和旋转。</blockquote></p><p> <b>The brutal reality is the Central Bankers,&nbsp;</b><b><i>who are all honourable men and women</i></b><b>, understand the levers they pull no longer function as they once did. Why? Well, these honourable men and women have broken the system as a consequence of their actions. Oops. Now they have no choice but to follow.. which means trouble ahead until the global financial system can be resolved.</b></p><p><blockquote><b>残酷的现实是央行行长们，</b><b><i>他们都是可敬的男男女女</i></b><b>，明白他们拉动的杠杆不再像以前那样发挥作用了。为什么？好吧，这些可敬的男人和女人因为他们的行为而打破了这个系统。哎呀。现在他们别无选择，只能跟随..这意味着在全球金融体系得到解决之前，麻烦还在后头。</b></blockquote></p><p> The start reality is Central Banks have no answer to inflation except to hope and carry on. They are caught between the Scylla of Inflation and the Charybdis of a market collapse. Eek! Which is why so many analysts are confident the markets will win out and keep going higher – because central banks have little choice but to go with it and keep up the stimulus.</p><p><blockquote>最初的现实是，央行除了希望和坚持之外，对通胀没有答案。他们被夹在通货膨胀的“锡拉”和市场崩溃的“腹背受敌”之间。哎呀！这就是为什么如此多的分析师相信市场将获胜并继续走高——因为央行别无选择，只能随波逐流并继续刺激。</blockquote></p><p> <b>Most of the market is fixated on what the S&amp;P does this afternoon, what new high the NASDAQ will make this month, or where Amazon is going to top this quarter. They have the vision of a blind man when it comes to anything much beyond the end of their one-year time horizon. Even the bond market seems blind.</b></p><p><blockquote><b>大多数市场关注的是标准普尔指数今天下午的走势、纳斯达克本月将创下什么新高，或者亚马逊本季度将超越何处。当涉及到远远超出他们一年时间范围的任何事情时，他们有一个盲人的视野。甚至债券市场似乎也是盲目的。</b></blockquote></p><p> The reality is investment should be about the long term. If you ignore the future in favour of short-term gains its makes it very easy to dismiss the evidence… that inflation is actually a very, very real issue..</p><p><blockquote>现实是投资应该是长期的。如果你为了短期收益而忽视未来，就很容易忽视证据…通货膨胀实际上是一个非常非常现实的问题..</blockquote></p><p> Lots of smart non-financial assets funds do understand that, and see just how horribly distorted markets have become. That’s why they are so keen to diversify out of corrupted financial assets and into real assets – the hot part of the market (and what I’ve been doing in Alternative Assets for the last 12 years.)</p><p><blockquote>许多聪明的非金融资产基金确实明白这一点，并看到市场已经变得多么扭曲。这就是为什么他们如此热衷于多元化，摆脱腐败的金融资产，进入实物资产——这是市场的热门部分（也是我过去12年来在另类资产领域所做的事情）。</blockquote></p><p></p><p> Going back to inflation, the outlook is complex – another reason such a large part of the financial blogosphere is ignoring it. For instance; it’s possible to argue the rise in commodity prices is a factor of hoarding; manufacturers anticipating a surge Covid recovery and preparing for massive post-pandemic demand. The spikes in commodities from Copper to Lumber are now in reverse – supporting the market’s contention the inflation number is something of an overshoot.</p><p><blockquote>回到通胀，前景很复杂——这也是金融博客圈如此大一部分人忽视通胀的另一个原因。例如；可以说大宗商品价格上涨是囤积的一个因素；制造商预计新冠疫情复苏将激增，并为大流行后的巨大需求做好准备。从铜到木材等大宗商品的飙升现在已经逆转，这支持了市场关于通胀数据有些超调的论点。</blockquote></p><p> <b>Oil is an outlier.</b>OPEC is a monopoly price setter, but is going through yet another of its periodic organisational crisis resulting in a spike that’s proving difficult to hedge. Owning oil is not a pleasant outcome for anyone – as we saw last year when traders found themselves owning negative priced oil when storage was unavailable.</p><p><blockquote><b>石油是一个异常值。</b>欧佩克是垄断价格制定者，但正在经历另一场周期性组织危机，导致价格飙升，事实证明难以对冲。拥有石油对任何人来说都不是一个愉快的结果——正如我们去年看到的那样，当没有储存时，交易员发现自己拥有负价格的石油。</blockquote></p><p> Some of the important underlying trends in the economy – like used cars, where prices are rising. It hints that its details of specific inflation factors in each price that are important. Cars are a good example – we’re all aware of the global shortage of chips enabling car makers to cut production and create scarcity, pushing up new car prices, dragging second hand values higher as consumers seek alternatives. &nbsp;On the other hand – new car prices have been rising for years, with higher costs “justified” by the increasing amount of tech junk put into cars.. As the EU announces it will outlaw new ICE (internal combustion engine) vehicles by 2040, I wonder if we are going to see a new counter-trend develop.</p><p><blockquote>经济中一些重要的潜在趋势——比如二手车，价格正在上涨。它暗示了它的细节，具体的通货膨胀因素在每个价格是重要的。汽车就是一个很好的例子——我们都知道，全球芯片短缺导致汽车制造商减产并造成短缺，推高新车价格，随着消费者寻求替代品，二手车价格上涨。另一方面，新车价格多年来一直在上涨，越来越多的科技垃圾被放入汽车中证明了更高的成本是“合理的”..随着欧盟宣布到2040年将禁止新型ICE（内燃机）汽车，我想知道我们是否会看到新的反趋势发展。</blockquote></p><p> To explain, consider the Land Rover:</p><p><blockquote>为了解释这一点，请考虑路虎：</blockquote></p><p> <ul>  <li>A 10 year-old low milage, full service history, Range Rover in immaculate condition may be worth £16k. A 20 year battered Defender with zero documents is worth £32k! But you can fix it with Gaffa Tape, WD40 and a hammer. (If it moves and shouldn’t: Gaffa tape it. If it still moves; more Gaffa tape. If it doesn’t move: WD40 and persuade it with a hammer.)</li> </ul> <b>However, inflation complacency may be the least of Central Bank worries. You may have spotted an increasing number of breathless articles from around the globe on House Price Inflation.</b></p><p><blockquote><ul><li>一辆拥有10年低里程、完整保养历史、状况完美的路虎揽胜可能价值16,000英镑。一个被打了20年却没有任何证件的卫士价值3.2万英镑！但是你可以用Gaffa胶带，WD40和锤子来固定。（如果它动了，不应该：Gaffa胶带它。如果它仍然动；更多的Gaffa胶带。如果它不动：WD40并用锤子说服它。）</li></ul><b>然而，通胀自满可能是央行最不担心的问题。你可能已经发现了越来越多来自全球各地的关于房价通胀的令人窒息的文章。</b></blockquote></p><p> Everywhere on the planet the affluent classes – those with savings, who’ve done well from lockdown, and already on the property ladder – have been driving an uptick in property. Its debt fuelled and an illiquid market – no one sells till they see what they want to buy, and the ladder is actually a pyramid, with fewer assets on each successively higher rung.</p><p><blockquote>在地球上的任何地方，富裕阶层——那些有储蓄的人，那些在封锁期间过得很好，并且已经在房地产阶梯上的人——一直在推动房地产价格的上涨。它助长了债务和缺乏流动性的市场——没有人会卖出，直到他们看到他们想买的东西，阶梯实际上是一个金字塔，每一个连续更高的梯级上的资产都越来越少。</blockquote></p><p> The result is record home prices nearly everywhere. This week Powell and US Treasury Sec Janet Yellen are going to chat about it at the Financial Stability Oversight Council – a body setup post Global Financial Crisis (“GFC”) in 2010 to identify excessive risks to the US Financial System. About time.. Housing is more frothy than 2007 according to the Case-Shiller US property value index. (Incidentally… so is just about any other market…but, I;ve said that many times before..)</p><p><blockquote>结果是几乎所有地方的房价都创历史新高。本周，鲍威尔和美国财政部Sec珍妮特·耶伦(Janet Yellen)将在金融稳定监督委员会(Financial Stability Oversight Council)上谈论此事，该委员会是2010年全球金融危机(“GFC”)后成立的机构，旨在识别美国金融体系的过度风险。差不多时间了..根据Case-Shiller美国房地产价值指数，房地产泡沫比2007年更大。（顺便说一句……其他市场也是如此……但是，我以前已经说过很多次了……）</blockquote></p><p> Rightly, Janet and Jerome are concerned a second housing bubble bursting could shake the foundations of finance… again. However, this time will be different. The housing market is not vulnerable to a massive number of low-credit-score mortgagees defaulting, but to a large number of affluent middle classes suddenly finding themselves financial stretched, on a rung of the ladder they can’t afford, and sitting on negative equity when the bubble bursts.</p><p><blockquote>珍妮特和杰罗姆担心第二次房地产泡沫破裂可能会再次动摇金融的基础，这是正确的。然而，这一次会有所不同。房地产市场并不容易受到大量低信用评分抵押贷款人违约的影响，而是容易受到大量富裕中产阶级突然发现自己财务捉襟见肘，处于他们负担不起的阶梯上，并坐在负资产上泡沫破裂时。</blockquote></p><p> In the UK, we live with negative equity. In the US, you walk away. Whatever, these consumers consume less.</p><p><blockquote>在英国，我们生活在负资产中。在美国，你走开。不管怎样，这些消费者消费更少。</blockquote></p><p> The structure of the market has also changed. Banks don’t lend anymore. They broke their risks off to the investment sector. In the case of US mortgages – back to government through the Mortgage Backed Bond buyback schemes, and to the non-bank financial institutions than now finance, originate and service mortgages…</p><p><blockquote>市场的结构也发生了变化。银行不再放贷了。他们将风险转移到了投资领域。就美国抵押贷款而言——通过抵押贷款支持债券回购计划返还给政府，并返还给现在融资、发放和服务抵押贷款的非银行金融机构……</blockquote></p><p> <b>This is going to be the really big problem of the next stage of the Global Financial Crisis 2007-2031.</b>Real Assets! Smart money has been loading up on real assets on the basis they are decorrelated from the increasingly corrupted financial asset sector, but they reality is real assets from property, private equity, secured lending, aircraft, shipping, you-name-it, is now getting just as frothy as a result of all that inflation tied up in financial assets now spilling into the real economy…</p><p><blockquote><b>这将是2007-2031年全球金融危机下一阶段的真正大问题。</b>实物资产！聪明的资金一直在买入实物资产，因为它们与日益腐败的金融资产行业无关，但现实是，来自房地产、私募股权、担保贷款、飞机、航运等领域的实物资产，现在都变得越来越泡沫由于所有与金融资产相关的通货膨胀现在蔓延到实体经济……</blockquote></p><p> <b>Financial Asset Inflation has infected the real economy….</b></p><p><blockquote><b>金融资产通胀已经感染了实体经济。</b></blockquote></p><p> Time to think again… All these honourable men and women in Central Banks must dread Caesar’s ghost coming back to haunt the monetary experiment they started in 2010 going so badly wrong…</p><p><blockquote>是时候重新思考了……央行里所有这些可敬的男男女女一定害怕凯撒的鬼魂会回来困扰他们在2010年开始的货币实验，结果却出了如此严重的问题……</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>Inflation: The Next Stage Of The Global Financial Crisis 2007-2031<blockquote>通货膨胀：2007-2031年全球金融危机的下一阶段</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\">\nInflation: The Next Stage Of The Global Financial Crisis 2007-2031<blockquote>通货膨胀：2007-2031年全球金融危机的下一阶段</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-15 11:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>“The evil that men do lives after them; the good is oft interred with their bones; so be it with Caesar.”</i></p><p><blockquote><i>“人所行的恶，必后生；善人常与尸骨一同埋葬。凯撒也是如此。”</i></blockquote></p><p> <b><i>What Inflation? “Oh, that’s nothing to worry about, the central banks have no choice but to keep juicing markets”… The market is so focused on the short-term and ignoring the consequences of the last 10 years of QE, monetary experimentation and easy rates, that its blundering into the next crisis. Inflation matters, and has jumped from financial assets into the real economy.</i></b></p><p><blockquote><b><i>什么通货膨胀？“哦，这没什么好担心的，央行别无选择，只能继续刺激市场”……市场如此关注短期，忽视了过去10年量化宽松、货币实验和宽松利率的后果，以至于它陷入了下一场危机。通货膨胀很重要，而且已经从金融资产跳到了实体经济。</i></b></blockquote></p><p> <i>I should warn readers this morning’s porridge is going to be yet another of my irregular notes on how the Global Financial Crisis (“GFC”) which began in 2007 is still with us.. We’re just moving on to a new stage… Enjoy Chapter 384 of&nbsp;The Fall of Money – The GFC: 2007-2031.</i></p><p><blockquote><i>我应该警告读者，今天早上的粥将是我关于2007年开始的全球金融危机（“GFC”）如何仍然伴随着我们的又一次不定期笔记..我们正在进入一个新的阶段……欣赏《金钱的陨落——GFC：2007-2031》的第384章。</i></blockquote></p><p> This morning – What inflation?</p><p><blockquote>今天早上——什么通货膨胀？</blockquote></p><p> Huh? Last week the market convinced itself inflation&nbsp;<i><u>apparently</u></i>wasn’t an issue. Yield curves flattened, bonds tightened, and even though stocks were anticipating the best-ever-earnings-season, there was&nbsp;<i><u>absolutely</u></i>&nbsp;nothing to worry about in terms of rising prices… Apparently…</p><p><blockquote>啊？上周市场确信通胀<i><u>显然</u></i>不是问题。收益率曲线变平，债券收紧，尽管股市预计将迎来有史以来最好的财报季，但<i><u>绝对地</u></i>价格上涨没什么可担心的……显然……</blockquote></p><p> <b>Apparently</b>and&nbsp;<b>Absolutely</b>&nbsp;are two very dangerous words in finance… They raise the likelihood you’ve got it completely wrong, ie:&nbsp;<i>Apparently</i>&nbsp;you couldn’t lose, but you did… Returns were&nbsp;<i>Absolutely</i>guaranteed.. till the company went burst.</p><p><blockquote><b>显然</b>和<b>绝对地</b>在金融领域是两个非常危险的词……它们增加了你完全弄错的可能性，即：<i>显然</i>你不能输，但你输了……回报是<i>绝对地</i>保证..直到公司倒闭。</blockquote></p><p> As we’ve learn’t this morning UK Inflation has risen to 2.5% – raising the prospect of a letter from the Bank explaining why. The headline US CPI data yesterday was even stronger – 5.4% yoy, and 0.9% over the last month! That’s not quite Zimbabwe but… you get the drift… When it happens in Europe… well the Germans are going to have a monumental hissy fit. (Top investment tip: stay long wheelbarrows.)</p><p><blockquote>正如我们今天早上了解到的那样，英国通胀率已升至2.5%，这增加了央行致函解释原因的可能性。昨天的总体美国CPI数据甚至更强劲——同比增长5.4%，环比增长0.9%！这不完全是津巴布韦，但是…你明白了…当它发生在欧洲时…德国人会大发脾气。（顶级投资提示：长期使用独轮车。）</blockquote></p><p> Inflation matters. Its critical to bonds and long-term returns. The market should look like it’s been slapped with the Wet-Halibut of Rampant Inflation, but, it doesn’t seem to have learnt the lesson. This morning, the financial-commentariat is awash with analysis of how the Fed, BoE and ECB will all hold off from any hint of “taper” response to inflation, in order to keep frothy markets from collapsing.</p><p><blockquote>通货膨胀很重要。这对债券和长期回报至关重要。市场应该看起来像是被猖獗的通胀打了一巴掌，但是，它似乎还没有吸取教训。今天早上，金融评论充斥着对美联储、英国央行和欧洲央行将如何避免对通胀做出任何“缩减”反应的暗示，以防止泡沫市场崩溃的分析。</blockquote></p><p> Fed-Watching used to be the delicate art of understanding the indecipherable nuances of Fed-Speak, forensically dissecting the commentary and numbers and drawing conclusions based on a clear understanding of what was left unsaid and the Fed’s mandate.</p><p><blockquote>观察美联储曾经是一门微妙的艺术，可以理解美联储言论中难以理解的细微差别，对评论和数字进行法医剖析，并根据对未说的话和美联储使命的清晰理解得出结论。</blockquote></p><p> Not today.</p><p><blockquote>今天不行。</blockquote></p><p> Fed watching today is about understanding how Jerome Powell and his merry gang are now hamstrung and tripping over themselves about not spooking markets over rate rises, taper-talk or doing anything that might unwind what they’ve being doing the last 12 years – frothing markets with unlimited QE, inappropriate rates, regulation and spin.</p><p><blockquote>美联储今天的观察是为了了解杰罗姆·鲍威尔和他的快乐团伙现在是如何被束缚和绊倒的，因为他们没有因为加息、缩减开支或做任何可能放松他们过去12年所做的事情而惊吓市场——泡沫市场无限量化宽松、不适当的利率、监管和旋转。</blockquote></p><p> <b>The brutal reality is the Central Bankers,&nbsp;</b><b><i>who are all honourable men and women</i></b><b>, understand the levers they pull no longer function as they once did. Why? Well, these honourable men and women have broken the system as a consequence of their actions. Oops. Now they have no choice but to follow.. which means trouble ahead until the global financial system can be resolved.</b></p><p><blockquote><b>残酷的现实是央行行长们，</b><b><i>他们都是可敬的男男女女</i></b><b>，明白他们拉动的杠杆不再像以前那样发挥作用了。为什么？好吧，这些可敬的男人和女人因为他们的行为而打破了这个系统。哎呀。现在他们别无选择，只能跟随..这意味着在全球金融体系得到解决之前，麻烦还在后头。</b></blockquote></p><p> The start reality is Central Banks have no answer to inflation except to hope and carry on. They are caught between the Scylla of Inflation and the Charybdis of a market collapse. Eek! Which is why so many analysts are confident the markets will win out and keep going higher – because central banks have little choice but to go with it and keep up the stimulus.</p><p><blockquote>最初的现实是，央行除了希望和坚持之外，对通胀没有答案。他们被夹在通货膨胀的“锡拉”和市场崩溃的“腹背受敌”之间。哎呀！这就是为什么如此多的分析师相信市场将获胜并继续走高——因为央行别无选择，只能随波逐流并继续刺激。</blockquote></p><p> <b>Most of the market is fixated on what the S&amp;P does this afternoon, what new high the NASDAQ will make this month, or where Amazon is going to top this quarter. They have the vision of a blind man when it comes to anything much beyond the end of their one-year time horizon. Even the bond market seems blind.</b></p><p><blockquote><b>大多数市场关注的是标准普尔指数今天下午的走势、纳斯达克本月将创下什么新高，或者亚马逊本季度将超越何处。当涉及到远远超出他们一年时间范围的任何事情时，他们有一个盲人的视野。甚至债券市场似乎也是盲目的。</b></blockquote></p><p> The reality is investment should be about the long term. If you ignore the future in favour of short-term gains its makes it very easy to dismiss the evidence… that inflation is actually a very, very real issue..</p><p><blockquote>现实是投资应该是长期的。如果你为了短期收益而忽视未来，就很容易忽视证据…通货膨胀实际上是一个非常非常现实的问题..</blockquote></p><p> Lots of smart non-financial assets funds do understand that, and see just how horribly distorted markets have become. That’s why they are so keen to diversify out of corrupted financial assets and into real assets – the hot part of the market (and what I’ve been doing in Alternative Assets for the last 12 years.)</p><p><blockquote>许多聪明的非金融资产基金确实明白这一点，并看到市场已经变得多么扭曲。这就是为什么他们如此热衷于多元化，摆脱腐败的金融资产，进入实物资产——这是市场的热门部分（也是我过去12年来在另类资产领域所做的事情）。</blockquote></p><p></p><p> Going back to inflation, the outlook is complex – another reason such a large part of the financial blogosphere is ignoring it. For instance; it’s possible to argue the rise in commodity prices is a factor of hoarding; manufacturers anticipating a surge Covid recovery and preparing for massive post-pandemic demand. The spikes in commodities from Copper to Lumber are now in reverse – supporting the market’s contention the inflation number is something of an overshoot.</p><p><blockquote>回到通胀，前景很复杂——这也是金融博客圈如此大一部分人忽视通胀的另一个原因。例如；可以说大宗商品价格上涨是囤积的一个因素；制造商预计新冠疫情复苏将激增，并为大流行后的巨大需求做好准备。从铜到木材等大宗商品的飙升现在已经逆转，这支持了市场关于通胀数据有些超调的论点。</blockquote></p><p> <b>Oil is an outlier.</b>OPEC is a monopoly price setter, but is going through yet another of its periodic organisational crisis resulting in a spike that’s proving difficult to hedge. Owning oil is not a pleasant outcome for anyone – as we saw last year when traders found themselves owning negative priced oil when storage was unavailable.</p><p><blockquote><b>石油是一个异常值。</b>欧佩克是垄断价格制定者，但正在经历另一场周期性组织危机，导致价格飙升，事实证明难以对冲。拥有石油对任何人来说都不是一个愉快的结果——正如我们去年看到的那样，当没有储存时，交易员发现自己拥有负价格的石油。</blockquote></p><p> Some of the important underlying trends in the economy – like used cars, where prices are rising. It hints that its details of specific inflation factors in each price that are important. Cars are a good example – we’re all aware of the global shortage of chips enabling car makers to cut production and create scarcity, pushing up new car prices, dragging second hand values higher as consumers seek alternatives. &nbsp;On the other hand – new car prices have been rising for years, with higher costs “justified” by the increasing amount of tech junk put into cars.. As the EU announces it will outlaw new ICE (internal combustion engine) vehicles by 2040, I wonder if we are going to see a new counter-trend develop.</p><p><blockquote>经济中一些重要的潜在趋势——比如二手车，价格正在上涨。它暗示了它的细节，具体的通货膨胀因素在每个价格是重要的。汽车就是一个很好的例子——我们都知道，全球芯片短缺导致汽车制造商减产并造成短缺，推高新车价格，随着消费者寻求替代品，二手车价格上涨。另一方面，新车价格多年来一直在上涨，越来越多的科技垃圾被放入汽车中证明了更高的成本是“合理的”..随着欧盟宣布到2040年将禁止新型ICE（内燃机）汽车，我想知道我们是否会看到新的反趋势发展。</blockquote></p><p> To explain, consider the Land Rover:</p><p><blockquote>为了解释这一点，请考虑路虎：</blockquote></p><p> <ul>  <li>A 10 year-old low milage, full service history, Range Rover in immaculate condition may be worth £16k. A 20 year battered Defender with zero documents is worth £32k! But you can fix it with Gaffa Tape, WD40 and a hammer. (If it moves and shouldn’t: Gaffa tape it. If it still moves; more Gaffa tape. If it doesn’t move: WD40 and persuade it with a hammer.)</li> </ul> <b>However, inflation complacency may be the least of Central Bank worries. You may have spotted an increasing number of breathless articles from around the globe on House Price Inflation.</b></p><p><blockquote><ul><li>一辆拥有10年低里程、完整保养历史、状况完美的路虎揽胜可能价值16,000英镑。一个被打了20年却没有任何证件的卫士价值3.2万英镑！但是你可以用Gaffa胶带，WD40和锤子来固定。（如果它动了，不应该：Gaffa胶带它。如果它仍然动；更多的Gaffa胶带。如果它不动：WD40并用锤子说服它。）</li></ul><b>然而，通胀自满可能是央行最不担心的问题。你可能已经发现了越来越多来自全球各地的关于房价通胀的令人窒息的文章。</b></blockquote></p><p> Everywhere on the planet the affluent classes – those with savings, who’ve done well from lockdown, and already on the property ladder – have been driving an uptick in property. Its debt fuelled and an illiquid market – no one sells till they see what they want to buy, and the ladder is actually a pyramid, with fewer assets on each successively higher rung.</p><p><blockquote>在地球上的任何地方，富裕阶层——那些有储蓄的人，那些在封锁期间过得很好，并且已经在房地产阶梯上的人——一直在推动房地产价格的上涨。它助长了债务和缺乏流动性的市场——没有人会卖出，直到他们看到他们想买的东西，阶梯实际上是一个金字塔，每一个连续更高的梯级上的资产都越来越少。</blockquote></p><p> The result is record home prices nearly everywhere. This week Powell and US Treasury Sec Janet Yellen are going to chat about it at the Financial Stability Oversight Council – a body setup post Global Financial Crisis (“GFC”) in 2010 to identify excessive risks to the US Financial System. About time.. Housing is more frothy than 2007 according to the Case-Shiller US property value index. (Incidentally… so is just about any other market…but, I;ve said that many times before..)</p><p><blockquote>结果是几乎所有地方的房价都创历史新高。本周，鲍威尔和美国财政部Sec珍妮特·耶伦(Janet Yellen)将在金融稳定监督委员会(Financial Stability Oversight Council)上谈论此事，该委员会是2010年全球金融危机(“GFC”)后成立的机构，旨在识别美国金融体系的过度风险。差不多时间了..根据Case-Shiller美国房地产价值指数，房地产泡沫比2007年更大。（顺便说一句……其他市场也是如此……但是，我以前已经说过很多次了……）</blockquote></p><p> Rightly, Janet and Jerome are concerned a second housing bubble bursting could shake the foundations of finance… again. However, this time will be different. The housing market is not vulnerable to a massive number of low-credit-score mortgagees defaulting, but to a large number of affluent middle classes suddenly finding themselves financial stretched, on a rung of the ladder they can’t afford, and sitting on negative equity when the bubble bursts.</p><p><blockquote>珍妮特和杰罗姆担心第二次房地产泡沫破裂可能会再次动摇金融的基础，这是正确的。然而，这一次会有所不同。房地产市场并不容易受到大量低信用评分抵押贷款人违约的影响，而是容易受到大量富裕中产阶级突然发现自己财务捉襟见肘，处于他们负担不起的阶梯上，并坐在负资产上泡沫破裂时。</blockquote></p><p> In the UK, we live with negative equity. In the US, you walk away. Whatever, these consumers consume less.</p><p><blockquote>在英国，我们生活在负资产中。在美国，你走开。不管怎样，这些消费者消费更少。</blockquote></p><p> The structure of the market has also changed. Banks don’t lend anymore. They broke their risks off to the investment sector. In the case of US mortgages – back to government through the Mortgage Backed Bond buyback schemes, and to the non-bank financial institutions than now finance, originate and service mortgages…</p><p><blockquote>市场的结构也发生了变化。银行不再放贷了。他们将风险转移到了投资领域。就美国抵押贷款而言——通过抵押贷款支持债券回购计划返还给政府，并返还给现在融资、发放和服务抵押贷款的非银行金融机构……</blockquote></p><p> <b>This is going to be the really big problem of the next stage of the Global Financial Crisis 2007-2031.</b>Real Assets! Smart money has been loading up on real assets on the basis they are decorrelated from the increasingly corrupted financial asset sector, but they reality is real assets from property, private equity, secured lending, aircraft, shipping, you-name-it, is now getting just as frothy as a result of all that inflation tied up in financial assets now spilling into the real economy…</p><p><blockquote><b>这将是2007-2031年全球金融危机下一阶段的真正大问题。</b>实物资产！聪明的资金一直在买入实物资产，因为它们与日益腐败的金融资产行业无关，但现实是，来自房地产、私募股权、担保贷款、飞机、航运等领域的实物资产，现在都变得越来越泡沫由于所有与金融资产相关的通货膨胀现在蔓延到实体经济……</blockquote></p><p> <b>Financial Asset Inflation has infected the real economy….</b></p><p><blockquote><b>金融资产通胀已经感染了实体经济。</b></blockquote></p><p> Time to think again… All these honourable men and women in Central Banks must dread Caesar’s ghost coming back to haunt the monetary experiment they started in 2010 going so badly wrong…</p><p><blockquote>是时候重新思考了……央行里所有这些可敬的男男女女一定害怕凯撒的鬼魂会回来困扰他们在2010年开始的货币实验，结果却出了如此严重的问题……</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/inflation-next-stage-global-financial-crisis-2007-2031\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/inflation-next-stage-global-financial-crisis-2007-2031","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122873304","content_text":"“The evil that men do lives after them; the good is oft interred with their bones; so be it with Caesar.”\nWhat Inflation? “Oh, that’s nothing to worry about, the central banks have no choice but to keep juicing markets”… The market is so focused on the short-term and ignoring the consequences of the last 10 years of QE, monetary experimentation and easy rates, that its blundering into the next crisis. Inflation matters, and has jumped from financial assets into the real economy.\nI should warn readers this morning’s porridge is going to be yet another of my irregular notes on how the Global Financial Crisis (“GFC”) which began in 2007 is still with us.. We’re just moving on to a new stage… Enjoy Chapter 384 of The Fall of Money – The GFC: 2007-2031.\nThis morning – What inflation?\nHuh? Last week the market convinced itself inflation apparentlywasn’t an issue. Yield curves flattened, bonds tightened, and even though stocks were anticipating the best-ever-earnings-season, there was absolutely nothing to worry about in terms of rising prices… Apparently…\nApparentlyand Absolutely are two very dangerous words in finance… They raise the likelihood you’ve got it completely wrong, ie: Apparently you couldn’t lose, but you did… Returns were Absolutelyguaranteed.. till the company went burst.\nAs we’ve learn’t this morning UK Inflation has risen to 2.5% – raising the prospect of a letter from the Bank explaining why. The headline US CPI data yesterday was even stronger – 5.4% yoy, and 0.9% over the last month! That’s not quite Zimbabwe but… you get the drift… When it happens in Europe… well the Germans are going to have a monumental hissy fit. (Top investment tip: stay long wheelbarrows.)\nInflation matters. Its critical to bonds and long-term returns. The market should look like it’s been slapped with the Wet-Halibut of Rampant Inflation, but, it doesn’t seem to have learnt the lesson. This morning, the financial-commentariat is awash with analysis of how the Fed, BoE and ECB will all hold off from any hint of “taper” response to inflation, in order to keep frothy markets from collapsing.\nFed-Watching used to be the delicate art of understanding the indecipherable nuances of Fed-Speak, forensically dissecting the commentary and numbers and drawing conclusions based on a clear understanding of what was left unsaid and the Fed’s mandate.\nNot today.\nFed watching today is about understanding how Jerome Powell and his merry gang are now hamstrung and tripping over themselves about not spooking markets over rate rises, taper-talk or doing anything that might unwind what they’ve being doing the last 12 years – frothing markets with unlimited QE, inappropriate rates, regulation and spin.\nThe brutal reality is the Central Bankers, who are all honourable men and women, understand the levers they pull no longer function as they once did. Why? Well, these honourable men and women have broken the system as a consequence of their actions. Oops. Now they have no choice but to follow.. which means trouble ahead until the global financial system can be resolved.\nThe start reality is Central Banks have no answer to inflation except to hope and carry on. They are caught between the Scylla of Inflation and the Charybdis of a market collapse. Eek! Which is why so many analysts are confident the markets will win out and keep going higher – because central banks have little choice but to go with it and keep up the stimulus.\nMost of the market is fixated on what the S&P does this afternoon, what new high the NASDAQ will make this month, or where Amazon is going to top this quarter. They have the vision of a blind man when it comes to anything much beyond the end of their one-year time horizon. Even the bond market seems blind.\nThe reality is investment should be about the long term. If you ignore the future in favour of short-term gains its makes it very easy to dismiss the evidence… that inflation is actually a very, very real issue..\nLots of smart non-financial assets funds do understand that, and see just how horribly distorted markets have become. That’s why they are so keen to diversify out of corrupted financial assets and into real assets – the hot part of the market (and what I’ve been doing in Alternative Assets for the last 12 years.)\nGoing back to inflation, the outlook is complex – another reason such a large part of the financial blogosphere is ignoring it. For instance; it’s possible to argue the rise in commodity prices is a factor of hoarding; manufacturers anticipating a surge Covid recovery and preparing for massive post-pandemic demand. The spikes in commodities from Copper to Lumber are now in reverse – supporting the market’s contention the inflation number is something of an overshoot.\nOil is an outlier.OPEC is a monopoly price setter, but is going through yet another of its periodic organisational crisis resulting in a spike that’s proving difficult to hedge. Owning oil is not a pleasant outcome for anyone – as we saw last year when traders found themselves owning negative priced oil when storage was unavailable.\nSome of the important underlying trends in the economy – like used cars, where prices are rising. It hints that its details of specific inflation factors in each price that are important. Cars are a good example – we’re all aware of the global shortage of chips enabling car makers to cut production and create scarcity, pushing up new car prices, dragging second hand values higher as consumers seek alternatives.  On the other hand – new car prices have been rising for years, with higher costs “justified” by the increasing amount of tech junk put into cars.. As the EU announces it will outlaw new ICE (internal combustion engine) vehicles by 2040, I wonder if we are going to see a new counter-trend develop.\nTo explain, consider the Land Rover:\n\nA 10 year-old low milage, full service history, Range Rover in immaculate condition may be worth £16k. A 20 year battered Defender with zero documents is worth £32k! But you can fix it with Gaffa Tape, WD40 and a hammer. (If it moves and shouldn’t: Gaffa tape it. If it still moves; more Gaffa tape. If it doesn’t move: WD40 and persuade it with a hammer.)\n\nHowever, inflation complacency may be the least of Central Bank worries. You may have spotted an increasing number of breathless articles from around the globe on House Price Inflation.\nEverywhere on the planet the affluent classes – those with savings, who’ve done well from lockdown, and already on the property ladder – have been driving an uptick in property. Its debt fuelled and an illiquid market – no one sells till they see what they want to buy, and the ladder is actually a pyramid, with fewer assets on each successively higher rung.\nThe result is record home prices nearly everywhere. This week Powell and US Treasury Sec Janet Yellen are going to chat about it at the Financial Stability Oversight Council – a body setup post Global Financial Crisis (“GFC”) in 2010 to identify excessive risks to the US Financial System. About time.. Housing is more frothy than 2007 according to the Case-Shiller US property value index. (Incidentally… so is just about any other market…but, I;ve said that many times before..)\nRightly, Janet and Jerome are concerned a second housing bubble bursting could shake the foundations of finance… again. However, this time will be different. The housing market is not vulnerable to a massive number of low-credit-score mortgagees defaulting, but to a large number of affluent middle classes suddenly finding themselves financial stretched, on a rung of the ladder they can’t afford, and sitting on negative equity when the bubble bursts.\nIn the UK, we live with negative equity. In the US, you walk away. Whatever, these consumers consume less.\nThe structure of the market has also changed. Banks don’t lend anymore. They broke their risks off to the investment sector. In the case of US mortgages – back to government through the Mortgage Backed Bond buyback schemes, and to the non-bank financial institutions than now finance, originate and service mortgages…\nThis is going to be the really big problem of the next stage of the Global Financial Crisis 2007-2031.Real Assets! Smart money has been loading up on real assets on the basis they are decorrelated from the increasingly corrupted financial asset sector, but they reality is real assets from property, private equity, secured lending, aircraft, shipping, you-name-it, is now getting just as frothy as a result of all that inflation tied up in financial assets now spilling into the real economy…\nFinancial Asset Inflation has infected the real economy….\nTime to think again… All these honourable men and women in Central Banks must dread Caesar’s ghost coming back to haunt the monetary experiment they started in 2010 going so badly wrong…","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148612196,"gmtCreate":1625971035015,"gmtModify":1633931242974,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"When fda announced license approved it went up to $57. Now actual flight n not near tat level. Y?&nbsp;","listText":"When fda announced license approved it went up to $57. Now actual flight n not near tat level. Y?&nbsp;","text":"When fda announced license approved it went up to $57. Now actual flight n not near tat level. Y?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148612196","repostId":"2150301278","repostType":4,"isVote":1,"tweetType":1,"viewCount":584,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808992204,"gmtCreate":1627549107608,"gmtModify":1631891540037,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"U nv know what they will comment. Later anogher fb...","listText":"U nv know what they will comment. Later anogher fb...","text":"U nv know what they will comment. Later anogher fb...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808992204","repostId":"1165497040","repostType":4,"isVote":1,"tweetType":1,"viewCount":2107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171445114,"gmtCreate":1626759989538,"gmtModify":1631891540061,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"My eyes has tuned n got used to the permanent reds of my portfolio","listText":"My eyes has tuned n got used to the permanent reds of my portfolio","text":"My eyes has tuned n got used to the permanent reds of my portfolio","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/171445114","repostId":"1149818409","repostType":4,"repost":{"id":"1149818409","kind":"news","pubTimestamp":1626746165,"share":"https://www.laohu8.com/m/news/1149818409?lang=zh_CN&edition=full","pubTime":"2021-07-20 09:56","market":"us","language":"en","title":"Is This the Long-Awaited Stock Market Crash?<blockquote>这是期待已久的股灾吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149818409","media":"Motley Fool","summary":"Investors are always trying to anticipate the next stock market crash. Those searching for signs of ","content":"<p>Investors are always trying to anticipate the next stock market crash. Those searching for signs of the next major downturn for the market got some evidence supporting the idea that it could come sooner rather than later, with investors continuing to worry about the sharp increase in COVID-19 cases in the U.S. and in other areas of the world. As of 11:15 a.m. EDT, the&nbsp;<b>Dow Jones Industrial Average</b>(DJINDICES:^DJI)was down 767 points to 33,921. The&nbsp;<b>S&amp;P 500</b>(SNPINDEX:^GSPC)had dropped 65 points to 4,262, and the&nbsp;<b>Nasdaq Composite</b>(NASDAQINDEX:^IXIC)was lower by 143 points to 14,284.</p><p><blockquote>投资者总是试图预测下一次股市崩盘。那些寻找市场下一次重大低迷迹象的人得到了一些证据支持这样一种观点，即它可能来得早而不是晚，投资者继续担心美国和世界其他地区的COVID-19病例急剧增加。截至美国东部时间上午11:15，<b>道琼斯工业平均指数</b>(DJINDICES：^DJI)下跌767点，至33,921点。The<b>标普500</b>(SNPINDEX：^GSPC)下跌65点至4,262点，而<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）下跌143点，至14,284点。</blockquote></p><p> You can always make a bearish case for why the stock market should stop going up, at least in the short run. However, investors spend too much time trying to figure out exact timing. If you're truly worried about your exposure to the stock market, then the time to take action is<i>before</i>the worst of the next bear market happens. Below, we'll take a closer look at what's hitting the market today and what response might be most appropriate.</p><p><blockquote>你总是可以悲观地解释为什么股市应该停止上涨，至少在短期内是这样。然而，投资者花了太多时间试图找出确切的时机。如果您确实担心自己在股市的敞口，那么现在是采取行动的时候了<i>以前</i>下一次熊市最糟糕的情况发生了。下面，我们将仔细看看今天市场上发生了什么，以及什么反应可能是最合适的。</blockquote></p><p> <b>Slowing down</b></p><p><blockquote><b>减速</b></blockquote></p><p> Many investors couldn't understand the huge gains that the stock market has produced over the past 15 months. Even as the global economy struggled under the weight of pandemic-caused lockdowns, the stock market reflected a level of optimism that simply didn't seem to be there yet. Eventually, vaccines led to reopenings, which in turn started to help lift the prospects for companies hit hard by the pandemic.</p><p><blockquote>许多投资者无法理解股市在过去15个月里取得的巨大涨幅。尽管全球经济在大流行导致的封锁的重压下苦苦挣扎，但股市反映出了一种似乎还没有的乐观情绪。最终，疫苗导致了重新开业，这反过来又开始帮助提升受疫情重创的公司的前景。</blockquote></p><p> Now, though, the fear among investors is that the markets have gotten ahead of themselves. As the delta variant helps stoke rising COVID-19 case counts, the idea that the pandemic would soon no longer be a major factor in the economy is starting to lose credibility.</p><p><blockquote>然而现在，投资者担心市场已经超前了。随着德尔塔变异毒株导致COVID-19病例数不断上升，这种流行病很快将不再是经济主要因素的想法开始失去可信度。</blockquote></p><p> That change of attitude is having dramatic impacts across the financial markets:</p><p><blockquote>这种态度的转变正在对整个金融市场产生巨大影响：</blockquote></p><p> <ul>  <li>Bond yields have plunged as investors seek the reliable, though minuscule, returns available from fixed income securities. Ten-year Treasury yields dropped below 1.2% Monday morning, and after having seen some upward movement in recent months, international bond yields now appear likely to remain negative in many countries throughout Europe for the foreseeable future.</li>  <li>The drop in long-term rates has hit financial stocks hard, with<b>Goldman Sachs</b>(NYSE:GS)leading big banks lower with a nearly 4% drop. Financials are playing a major role in pulling the Dow down by a larger percentage than other markets on Monday.</li>  <li>Signs ofinflationary pressureare showing early signs of potentially reversing. Crude oil fell nearly $5 per barrel on Monday, falling to $67 per barrel and causing oil-related stocks to fall.<b>Chevron</b>(NYSE:CVX)was among the Dow's weakest performers, falling more than 3% Monday morning.</li>  <li>Meanwhile, some stocks are benefiting.<b>Moderna</b>(NASDAQ:MRNA)shares rose, perhaps in anticipation ofgreater vaccine sales, while<b>Peloton Interactive</b>(NASDAQ:PTON)also gained ground as some anticipate that more fitness enthusiasts might stay home if health risk levels increase.</li> </ul> Meanwhile, cyclical stocks in areas like industrials and materials are also particularly weak. The declines are coming after a generally strong performance over the past year.</p><p><blockquote><ul><li>由于投资者寻求从固定收益证券中获得可靠但微乎其微的回报，债券收益率暴跌。周一上午，十年期国债收益率跌破1.2%，在经历了近几个月的一些上行之后，在可预见的未来，欧洲许多国家的国际债券收益率现在似乎可能保持负值。</li><li>长期利率下降重创金融股，<b>高盛</b>(NYSE：GS)领跌大银行，跌幅近4%。周一，金融股在拖累道琼斯指数跌幅方面发挥了重要作用，跌幅大于其他市场。</li><li>通胀压力的迹象显示出可能逆转的早期迹象。原油周一每桶下跌近5美元，跌至每桶67美元，并导致石油相关股票下跌。<b>雪佛龙</b>（纽约证券交易所代码：CVX）是道琼斯指数表现最弱的股票之一，周一上午下跌超过3%。</li><li>与此同时，一些股票正在受益。<b>现代</b>（纳斯达克：MRNA）股价上涨，或许是由于预期疫苗销量会增加，而<b>Peloton互动</b>（纳斯达克：PTON）也取得了进展，因为一些人预计，如果健康风险水平上升，更多的健身爱好者可能会呆在家里。</li></ul>与此同时，工业和材料等领域的周期性股票也特别疲软。这些下降是在过去一年表现普遍强劲之后发生的。</blockquote></p><p> <b>Don't panic -- but be ready for what might come next</b></p><p><blockquote><b>不要惊慌——但要为接下来可能发生的事情做好准备</b></blockquote></p><p> It's always hard to deal with market downturns, and in particular, the long-term rise in the Dow makes declines seem worse than they really are. Drops of 2% have always been commonplace on Wall Street, but with the Dow having jumped as far as it has, the inevitable \"Dow Down 700+\" headlines always look more ominous.</p><p><blockquote>应对市场低迷总是很困难的，特别是道琼斯指数的长期上涨让下跌看起来比实际情况更糟糕。下跌2%在华尔街一直是家常便饭，但随着道琼斯指数已经跳得如此之远，不可避免的“道琼斯指数下跌700+”的头条新闻看起来总是更加不祥。</blockquote></p><p> Panic-selling after a stock market crash almost never works out well, and that's why feeling comfortable with your current level of risk<i>before</i>a crash comes is so important. In particular, if you find your portfolio has a lot more invested in stocks than you thought after the big gains of the past year, it's not unreasonable to rebalance your portfolio and move some of that money out of the market before a crash. Many investors like to target certain percentages in various asset classes, and it's smart to periodically check in on your holdings to make sure gains in one area and losses in another haven't thrown your portfolio out of whack.</p><p><blockquote>股市崩盘后的恐慌性抛售几乎永远不会有好结果，这就是为什么对当前的风险水平感到满意<i>以前</i>崩溃的到来是如此重要。特别是，如果您发现在过去一年的大幅上涨之后，您的投资组合在股票上的投资比您想象的要多得多，那么在崩盘之前重新平衡您的投资组合并将部分资金撤出市场并非没有道理。许多投资者喜欢在各种资产类别中设定一定比例的目标，明智的做法是定期检查您的持股，以确保一个领域的收益和另一个领域的损失不会使您的投资组合陷入混乱。</blockquote></p><p> Monday morning's downward move doesn't count as a crash. That doesn't mean there won't be one later today, tomorrow, next week, or later this year. Regardless, though,having an investing strategythat acknowledges the inevitable fact that a crash will come at some point will definitely help you whenever that fateful day finally does arrive.</p><p><blockquote>周一上午的下跌不算崩盘。这并不意味着今天晚些时候、明天、下周或今年晚些时候不会有。不过，无论如何，拥有一个承认崩盘将在某个时候到来这一不可避免的事实的投资策略肯定会在那决定性的一天最终到来时对你有所帮助。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is This the Long-Awaited Stock Market Crash?<blockquote>这是期待已久的股灾吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs This the Long-Awaited Stock Market Crash?<blockquote>这是期待已久的股灾吗？</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\">2021-07-20 09:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Investors are always trying to anticipate the next stock market crash. Those searching for signs of the next major downturn for the market got some evidence supporting the idea that it could come sooner rather than later, with investors continuing to worry about the sharp increase in COVID-19 cases in the U.S. and in other areas of the world. As of 11:15 a.m. EDT, the&nbsp;<b>Dow Jones Industrial Average</b>(DJINDICES:^DJI)was down 767 points to 33,921. The&nbsp;<b>S&amp;P 500</b>(SNPINDEX:^GSPC)had dropped 65 points to 4,262, and the&nbsp;<b>Nasdaq Composite</b>(NASDAQINDEX:^IXIC)was lower by 143 points to 14,284.</p><p><blockquote>投资者总是试图预测下一次股市崩盘。那些寻找市场下一次重大低迷迹象的人得到了一些证据支持这样一种观点，即它可能来得早而不是晚，投资者继续担心美国和世界其他地区的COVID-19病例急剧增加。截至美国东部时间上午11:15，<b>道琼斯工业平均指数</b>(DJINDICES：^DJI)下跌767点，至33,921点。The<b>标普500</b>(SNPINDEX：^GSPC)下跌65点至4,262点，而<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）下跌143点，至14,284点。</blockquote></p><p> You can always make a bearish case for why the stock market should stop going up, at least in the short run. However, investors spend too much time trying to figure out exact timing. If you're truly worried about your exposure to the stock market, then the time to take action is<i>before</i>the worst of the next bear market happens. Below, we'll take a closer look at what's hitting the market today and what response might be most appropriate.</p><p><blockquote>你总是可以悲观地解释为什么股市应该停止上涨，至少在短期内是这样。然而，投资者花了太多时间试图找出确切的时机。如果您确实担心自己在股市的敞口，那么现在是采取行动的时候了<i>以前</i>下一次熊市最糟糕的情况发生了。下面，我们将仔细看看今天市场上发生了什么，以及什么反应可能是最合适的。</blockquote></p><p> <b>Slowing down</b></p><p><blockquote><b>减速</b></blockquote></p><p> Many investors couldn't understand the huge gains that the stock market has produced over the past 15 months. Even as the global economy struggled under the weight of pandemic-caused lockdowns, the stock market reflected a level of optimism that simply didn't seem to be there yet. Eventually, vaccines led to reopenings, which in turn started to help lift the prospects for companies hit hard by the pandemic.</p><p><blockquote>许多投资者无法理解股市在过去15个月里取得的巨大涨幅。尽管全球经济在大流行导致的封锁的重压下苦苦挣扎，但股市反映出了一种似乎还没有的乐观情绪。最终，疫苗导致了重新开业，这反过来又开始帮助提升受疫情重创的公司的前景。</blockquote></p><p> Now, though, the fear among investors is that the markets have gotten ahead of themselves. As the delta variant helps stoke rising COVID-19 case counts, the idea that the pandemic would soon no longer be a major factor in the economy is starting to lose credibility.</p><p><blockquote>然而现在，投资者担心市场已经超前了。随着德尔塔变异毒株导致COVID-19病例数不断上升，这种流行病很快将不再是经济主要因素的想法开始失去可信度。</blockquote></p><p> That change of attitude is having dramatic impacts across the financial markets:</p><p><blockquote>这种态度的转变正在对整个金融市场产生巨大影响：</blockquote></p><p> <ul>  <li>Bond yields have plunged as investors seek the reliable, though minuscule, returns available from fixed income securities. Ten-year Treasury yields dropped below 1.2% Monday morning, and after having seen some upward movement in recent months, international bond yields now appear likely to remain negative in many countries throughout Europe for the foreseeable future.</li>  <li>The drop in long-term rates has hit financial stocks hard, with<b>Goldman Sachs</b>(NYSE:GS)leading big banks lower with a nearly 4% drop. Financials are playing a major role in pulling the Dow down by a larger percentage than other markets on Monday.</li>  <li>Signs ofinflationary pressureare showing early signs of potentially reversing. Crude oil fell nearly $5 per barrel on Monday, falling to $67 per barrel and causing oil-related stocks to fall.<b>Chevron</b>(NYSE:CVX)was among the Dow's weakest performers, falling more than 3% Monday morning.</li>  <li>Meanwhile, some stocks are benefiting.<b>Moderna</b>(NASDAQ:MRNA)shares rose, perhaps in anticipation ofgreater vaccine sales, while<b>Peloton Interactive</b>(NASDAQ:PTON)also gained ground as some anticipate that more fitness enthusiasts might stay home if health risk levels increase.</li> </ul> Meanwhile, cyclical stocks in areas like industrials and materials are also particularly weak. The declines are coming after a generally strong performance over the past year.</p><p><blockquote><ul><li>由于投资者寻求从固定收益证券中获得可靠但微乎其微的回报，债券收益率暴跌。周一上午，十年期国债收益率跌破1.2%，在经历了近几个月的一些上行之后，在可预见的未来，欧洲许多国家的国际债券收益率现在似乎可能保持负值。</li><li>长期利率下降重创金融股，<b>高盛</b>(NYSE：GS)领跌大银行，跌幅近4%。周一，金融股在拖累道琼斯指数跌幅方面发挥了重要作用，跌幅大于其他市场。</li><li>通胀压力的迹象显示出可能逆转的早期迹象。原油周一每桶下跌近5美元，跌至每桶67美元，并导致石油相关股票下跌。<b>雪佛龙</b>（纽约证券交易所代码：CVX）是道琼斯指数表现最弱的股票之一，周一上午下跌超过3%。</li><li>与此同时，一些股票正在受益。<b>现代</b>（纳斯达克：MRNA）股价上涨，或许是由于预期疫苗销量会增加，而<b>Peloton互动</b>（纳斯达克：PTON）也取得了进展，因为一些人预计，如果健康风险水平上升，更多的健身爱好者可能会呆在家里。</li></ul>与此同时，工业和材料等领域的周期性股票也特别疲软。这些下降是在过去一年表现普遍强劲之后发生的。</blockquote></p><p> <b>Don't panic -- but be ready for what might come next</b></p><p><blockquote><b>不要惊慌——但要为接下来可能发生的事情做好准备</b></blockquote></p><p> It's always hard to deal with market downturns, and in particular, the long-term rise in the Dow makes declines seem worse than they really are. Drops of 2% have always been commonplace on Wall Street, but with the Dow having jumped as far as it has, the inevitable \"Dow Down 700+\" headlines always look more ominous.</p><p><blockquote>应对市场低迷总是很困难的，特别是道琼斯指数的长期上涨让下跌看起来比实际情况更糟糕。下跌2%在华尔街一直是家常便饭，但随着道琼斯指数已经跳得如此之远，不可避免的“道琼斯指数下跌700+”的头条新闻看起来总是更加不祥。</blockquote></p><p> Panic-selling after a stock market crash almost never works out well, and that's why feeling comfortable with your current level of risk<i>before</i>a crash comes is so important. In particular, if you find your portfolio has a lot more invested in stocks than you thought after the big gains of the past year, it's not unreasonable to rebalance your portfolio and move some of that money out of the market before a crash. Many investors like to target certain percentages in various asset classes, and it's smart to periodically check in on your holdings to make sure gains in one area and losses in another haven't thrown your portfolio out of whack.</p><p><blockquote>股市崩盘后的恐慌性抛售几乎永远不会有好结果，这就是为什么对当前的风险水平感到满意<i>以前</i>崩溃的到来是如此重要。特别是，如果您发现在过去一年的大幅上涨之后，您的投资组合在股票上的投资比您想象的要多得多，那么在崩盘之前重新平衡您的投资组合并将部分资金撤出市场并非没有道理。许多投资者喜欢在各种资产类别中设定一定比例的目标，明智的做法是定期检查您的持股，以确保一个领域的收益和另一个领域的损失不会使您的投资组合陷入混乱。</blockquote></p><p> Monday morning's downward move doesn't count as a crash. That doesn't mean there won't be one later today, tomorrow, next week, or later this year. Regardless, though,having an investing strategythat acknowledges the inevitable fact that a crash will come at some point will definitely help you whenever that fateful day finally does arrive.</p><p><blockquote>周一上午的下跌不算崩盘。这并不意味着今天晚些时候、明天、下周或今年晚些时候不会有。不过，无论如何，拥有一个承认崩盘将在某个时候到来这一不可避免的事实的投资策略肯定会在那决定性的一天最终到来时对你有所帮助。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/19/is-this-the-long-awaited-stock-market-crash/\">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":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.fool.com/investing/2021/07/19/is-this-the-long-awaited-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149818409","content_text":"Investors are always trying to anticipate the next stock market crash. Those searching for signs of the next major downturn for the market got some evidence supporting the idea that it could come sooner rather than later, with investors continuing to worry about the sharp increase in COVID-19 cases in the U.S. and in other areas of the world. As of 11:15 a.m. EDT, the Dow Jones Industrial Average(DJINDICES:^DJI)was down 767 points to 33,921. The S&P 500(SNPINDEX:^GSPC)had dropped 65 points to 4,262, and the Nasdaq Composite(NASDAQINDEX:^IXIC)was lower by 143 points to 14,284.\nYou can always make a bearish case for why the stock market should stop going up, at least in the short run. However, investors spend too much time trying to figure out exact timing. If you're truly worried about your exposure to the stock market, then the time to take action isbeforethe worst of the next bear market happens. Below, we'll take a closer look at what's hitting the market today and what response might be most appropriate.\nSlowing down\nMany investors couldn't understand the huge gains that the stock market has produced over the past 15 months. Even as the global economy struggled under the weight of pandemic-caused lockdowns, the stock market reflected a level of optimism that simply didn't seem to be there yet. Eventually, vaccines led to reopenings, which in turn started to help lift the prospects for companies hit hard by the pandemic.\nNow, though, the fear among investors is that the markets have gotten ahead of themselves. As the delta variant helps stoke rising COVID-19 case counts, the idea that the pandemic would soon no longer be a major factor in the economy is starting to lose credibility.\nThat change of attitude is having dramatic impacts across the financial markets:\n\nBond yields have plunged as investors seek the reliable, though minuscule, returns available from fixed income securities. Ten-year Treasury yields dropped below 1.2% Monday morning, and after having seen some upward movement in recent months, international bond yields now appear likely to remain negative in many countries throughout Europe for the foreseeable future.\nThe drop in long-term rates has hit financial stocks hard, withGoldman Sachs(NYSE:GS)leading big banks lower with a nearly 4% drop. Financials are playing a major role in pulling the Dow down by a larger percentage than other markets on Monday.\nSigns ofinflationary pressureare showing early signs of potentially reversing. Crude oil fell nearly $5 per barrel on Monday, falling to $67 per barrel and causing oil-related stocks to fall.Chevron(NYSE:CVX)was among the Dow's weakest performers, falling more than 3% Monday morning.\nMeanwhile, some stocks are benefiting.Moderna(NASDAQ:MRNA)shares rose, perhaps in anticipation ofgreater vaccine sales, whilePeloton Interactive(NASDAQ:PTON)also gained ground as some anticipate that more fitness enthusiasts might stay home if health risk levels increase.\n\nMeanwhile, cyclical stocks in areas like industrials and materials are also particularly weak. The declines are coming after a generally strong performance over the past year.\nDon't panic -- but be ready for what might come next\nIt's always hard to deal with market downturns, and in particular, the long-term rise in the Dow makes declines seem worse than they really are. Drops of 2% have always been commonplace on Wall Street, but with the Dow having jumped as far as it has, the inevitable \"Dow Down 700+\" headlines always look more ominous.\nPanic-selling after a stock market crash almost never works out well, and that's why feeling comfortable with your current level of riskbeforea crash comes is so important. In particular, if you find your portfolio has a lot more invested in stocks than you thought after the big gains of the past year, it's not unreasonable to rebalance your portfolio and move some of that money out of the market before a crash. Many investors like to target certain percentages in various asset classes, and it's smart to periodically check in on your holdings to make sure gains in one area and losses in another haven't thrown your portfolio out of whack.\nMonday morning's downward move doesn't count as a crash. That doesn't mean there won't be one later today, tomorrow, next week, or later this year. Regardless, though,having an investing strategythat acknowledges the inevitable fact that a crash will come at some point will definitely help you whenever that fateful day finally does arrive.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2703,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179787635,"gmtCreate":1626577632027,"gmtModify":1631893839288,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"So many... which to choose??","listText":"So many... which to choose??","text":"So many... which to choose??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179787635","repostId":"1183956332","repostType":4,"isVote":1,"tweetType":1,"viewCount":361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148680571,"gmtCreate":1625971312993,"gmtModify":1631884081899,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Much as i support apple, hope they care abt the environment too. New tech to improve wld benefit both biz n reduce waste","listText":"Much as i support apple, hope they care abt the environment too. New tech to improve wld benefit both biz n reduce waste","text":"Much as i support apple, hope they care abt the environment too. New tech to improve wld benefit both biz n reduce waste","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148680571","repostId":"1166379040","repostType":4,"isVote":1,"tweetType":1,"viewCount":313,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148697484,"gmtCreate":1625970256848,"gmtModify":1633931259646,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Arent the big tech competitors of zoom or their focus aren't in tis area?&nbsp;","listText":"Arent the big tech competitors of zoom or their focus aren't in tis area?&nbsp;","text":"Arent the big tech competitors of zoom or their focus aren't in tis area?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148697484","repostId":"1196440758","repostType":4,"repost":{"id":"1196440758","kind":"news","pubTimestamp":1625967335,"share":"https://www.laohu8.com/m/news/1196440758?lang=zh_CN&edition=full","pubTime":"2021-07-11 09:35","market":"us","language":"en","title":"2 Growth Stocks for the Next 10 Years<blockquote>未来10年的2只成长型股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1196440758","media":"Motley Fool","summary":"Both of these companies grew revenue by triple-digit rates in their most recent quarters. More importantly, their futures look bright.","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Growth stocks may be riskier than stable and established companies, but carefully selected ones may be worth it.</li>  <li>Stay-at-home trends have helped these companies, but their growth rates were high before the pandemic, too.</li>  <li>Both of these fast-growing tech businesses are already profitable.</li> </ul> There's an interesting dilemma when it comes to picking stocks investors can likely hold for years or even decades. On the one hand, investors looking to hold shares for the long haul can stick with stable and established companies that have been around for decades and will likely continue succeeding for the foreseeable future -- companies like&nbsp;<b>Waste Management</b>&nbsp;and&nbsp;<b>Berkshire Hathaway</b>. The downside to this approach, however, is that investors may miss out on the potential outperformance that could come from fast-growing companies over the long haul.</p><p><blockquote><ul><li>成长型股票可能比稳定、成熟的公司风险更大，但精心挑选的股票可能是值得的。</li><li>居家趋势帮助了这些公司，但它们的增长率在大流行之前也很高。</li><li>这两项快速增长的科技业务都已经盈利。</li></ul>在选择投资者可能持有数年甚至数十年的股票时，存在一个有趣的困境。一方面，希望长期持有股票的投资者可以坚持持有稳定且成熟的公司，这些公司已经存在了数十年，并且在可预见的未来可能会继续取得成功——例如<b>废物管理</b>和<b>伯克希尔哈撒韦</b>然而，这种方法的缺点是，投资者可能会错过长期快速增长的公司可能带来的潜在优异表现。</blockquote></p><p> The issue with buying&nbsp;growth stocks, however, is that it's extremely difficult to gauge how long their rapid top-line growth rates can persist. Further, these companies' stock prices could perform very poorly if the growth prospects already baked into the stock price don't pan out. In other words, there's arguably more risk when it comes to betting on growth stocks for the next decade than there is for stable and established companies with decades of success behind them.</p><p><blockquote>然而，购买成长型股票的问题在于，很难衡量其快速的营收增长率能持续多久。此外，如果股价中已经体现的增长前景没有实现，这些公司的股价可能会表现非常糟糕。换句话说，押注未来十年的成长型股票可能比押注拥有数十年成功经验的稳定成熟公司的风险更大。</blockquote></p><p> So if an&nbsp;investor&nbsp;wants to buy growth stocks with a high chance of exceeding expectations over the next 10 years, they better have some pretty good reasons to believe these companies can do exactly that.</p><p><blockquote>因此，如果投资者想购买未来10年极有可能超出预期的成长型股票，他们最好有一些很好的理由相信这些公司能够做到这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/257045ef62f724806bce2b35390a5e4f\" tg-width=\"2000\" tg-height=\"1500\"><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> Here are two growth stocks that have a shot at not only living up to high expectations over the next 10 years but possibly even exceeding them:<b>Zoom Video Communications</b>(NASDAQ:ZM)&nbsp;and&nbsp;<b>Peloton Interactive</b>(NASDAQ:PTON).</p><p><blockquote>以下是两只成长型股票，它们不仅有可能在未来10年达到高预期，甚至可能超过预期：<b>Zoom Video通信公司</b>（纳斯达克：ZM）及<b>Peloton互动</b>（纳斯达克：PTON）。</blockquote></p><p> <b>Zoom and Peloton were already thriving before the pandemic</b></p><p><blockquote><b>Zoom和Peloton在大流行之前就已经蓬勃发展</b></blockquote></p><p> At first glance, investors may conclude that Zoom is nothing more than a pandemic stock. They may argue that the company's success was predicated almost entirely on the fact that much of the world was in lockdown in 2020 and going into 2021.</p><p><blockquote>乍一看，投资者可能会得出结论，Zoom只不过是一只流行病股票。他们可能会说，该公司的成功几乎完全取决于这样一个事实，即世界大部分地区在2020年和2021年都处于封锁状态。</blockquote></p><p> It's true that Zoom benefited significantly from the rise of virtual work in 2020. After all, revenue for the company's fiscal 2021 (a fiscal year ending Jan. 31, 2021) skyrocketed 326% year over year. But investors should note that the trend of using video to collaborate virtually was already extremely strong before the pandemic; fiscal 2020 revenue rose 88% year over year. Growth at the time was particularly strong from large customers. Zoom's customers contributing more than $100,000 of trailing-12-month revenue increased 86% year over year in the fourth quarter of fiscal 2020.</p><p><blockquote>确实，Zoom从2020年虚拟工作的兴起中受益匪浅。毕竟，该公司2021财年（截至2021年1月31日的财年）的收入同比飙升326%。但投资者应该注意到，在大流行之前，使用视频进行虚拟协作的趋势就已经非常强劲；2020财年收入同比增长88%。当时来自大客户的增长尤其强劲。2020财年第四季度，Zoom的客户过去12个月收入贡献超过10万美元，同比增长86%。</blockquote></p><p> The same goes for Peloton. The company certainly benefited from the pandemic, but revenue during the quarter ending Dec. 31, 2019 was growing at a year-over-year rate of 77%, with connected fitness subscribers increasing 96% year over year.</p><p><blockquote>Peloton也是如此。该公司当然受益于疫情，但截至2019年12月31日的季度收入同比增长77%，联网健身订户同比增长96%。</blockquote></p><p> <b>Continued momentum</b></p><p><blockquote><b>持续的势头</b></blockquote></p><p> The underlying catalysts driving Zoom and Peloton are both still alive and well. Strong growth persists at both companies.</p><p><blockquote>推动Zoom和Peloton的潜在催化剂仍然存在。两家公司都持续强劲增长。</blockquote></p><p> Despite facing extremely tough comparisons in the year-ago quarter, from when both companies were benefiting from soaring demand amid lockdowns, Zoom's and Peloton's revenue in their most recently reported quarters grew 191% and 141% year over year, respectively.</p><p><blockquote>尽管与去年同期相比面临极其严峻的比较，但Zoom和Peloton在最近报告的季度中的收入分别同比增长了191%和141%，当时两家公司都受益于封锁期间需求飙升。</blockquote></p><p> Looking ahead, Zoom notably guided for fiscal 2022 revenue of nearly $4 billion, up from fiscal 2021 revenue of about $2.7 billion.</p><p><blockquote>展望未来，Zoom特别预计2022财年营收将接近40亿美元，高于2021财年约27亿美元的营收。</blockquote></p><p> Boding well for Peloton's continued momentum, management said in its most recent quarterly update that its monthly average workouts per connected fitness subscription rose to an all-time high, showing how the company's products are still yielding high engagement even as the economy reopens.</p><p><blockquote>管理层在最近的季度更新中表示，其每个互联健身订阅的月平均锻炼次数升至历史新高，这预示着Peloton的持续势头，这表明即使经济重新开放，该公司的产品仍然产生高参与度。</blockquote></p><p> <b>Healthy profits</b></p><p><blockquote><b>健康利润</b></blockquote></p><p> Finally, another factor that makes these companies unique from many other growth stocks is that they are already very profitable. Zoom generated $873 million of net income on $3.3 billion of trailing-12-month sales, and Peloton served up $213 million of net income from $3.7 billion in revenue.</p><p><blockquote>最后，这些公司与许多其他成长型股票不同的另一个因素是，它们已经非常有利可图。Zoom过去12个月的销售额为33亿美元，净利润为8.73亿美元，Peloton的净利润为37亿美元，净利润为2.13亿美元。</blockquote></p><p> Substantial profits give these companies an edge when it comes to reinvesting in growth opportunities ahead of them and spending on efforts to enhance their competitive positioning and first-mover advantages in their respective industries.</p><p><blockquote>可观的利润使这些公司在对未来的增长机会进行再投资以及努力增强其在各自行业的竞争地位和先发优势方面具有优势。</blockquote></p><p> While there's no guarantee these two stocks will beat the market over the next 10 years, their recent momentum -- before, during, and after the worst part of the pandemic -- suggests they likely have a promising future.</p><p><blockquote>虽然不能保证这两只股票在未来10年内会跑赢市场，但它们最近的势头——在大流行最严重的时期之前、期间和之后——表明它们的未来可能充满希望。</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>2 Growth Stocks for the Next 10 Years<blockquote>未来10年的2只成长型股票</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\">\n2 Growth Stocks for the Next 10 Years<blockquote>未来10年的2只成长型股票</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\">2021-07-11 09:35</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>Growth stocks may be riskier than stable and established companies, but carefully selected ones may be worth it.</li>  <li>Stay-at-home trends have helped these companies, but their growth rates were high before the pandemic, too.</li>  <li>Both of these fast-growing tech businesses are already profitable.</li> </ul> There's an interesting dilemma when it comes to picking stocks investors can likely hold for years or even decades. On the one hand, investors looking to hold shares for the long haul can stick with stable and established companies that have been around for decades and will likely continue succeeding for the foreseeable future -- companies like&nbsp;<b>Waste Management</b>&nbsp;and&nbsp;<b>Berkshire Hathaway</b>. The downside to this approach, however, is that investors may miss out on the potential outperformance that could come from fast-growing companies over the long haul.</p><p><blockquote><ul><li>成长型股票可能比稳定、成熟的公司风险更大，但精心挑选的股票可能是值得的。</li><li>居家趋势帮助了这些公司，但它们的增长率在大流行之前也很高。</li><li>这两项快速增长的科技业务都已经盈利。</li></ul>在选择投资者可能持有数年甚至数十年的股票时，存在一个有趣的困境。一方面，希望长期持有股票的投资者可以坚持持有稳定且成熟的公司，这些公司已经存在了数十年，并且在可预见的未来可能会继续取得成功——例如<b>废物管理</b>和<b>伯克希尔哈撒韦</b>然而，这种方法的缺点是，投资者可能会错过长期快速增长的公司可能带来的潜在优异表现。</blockquote></p><p> The issue with buying&nbsp;growth stocks, however, is that it's extremely difficult to gauge how long their rapid top-line growth rates can persist. Further, these companies' stock prices could perform very poorly if the growth prospects already baked into the stock price don't pan out. In other words, there's arguably more risk when it comes to betting on growth stocks for the next decade than there is for stable and established companies with decades of success behind them.</p><p><blockquote>然而，购买成长型股票的问题在于，很难衡量其快速的营收增长率能持续多久。此外，如果股价中已经体现的增长前景没有实现，这些公司的股价可能会表现非常糟糕。换句话说，押注未来十年的成长型股票可能比押注拥有数十年成功经验的稳定成熟公司的风险更大。</blockquote></p><p> So if an&nbsp;investor&nbsp;wants to buy growth stocks with a high chance of exceeding expectations over the next 10 years, they better have some pretty good reasons to believe these companies can do exactly that.</p><p><blockquote>因此，如果投资者想购买未来10年极有可能超出预期的成长型股票，他们最好有一些很好的理由相信这些公司能够做到这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/257045ef62f724806bce2b35390a5e4f\" tg-width=\"2000\" tg-height=\"1500\"><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> Here are two growth stocks that have a shot at not only living up to high expectations over the next 10 years but possibly even exceeding them:<b>Zoom Video Communications</b>(NASDAQ:ZM)&nbsp;and&nbsp;<b>Peloton Interactive</b>(NASDAQ:PTON).</p><p><blockquote>以下是两只成长型股票，它们不仅有可能在未来10年达到高预期，甚至可能超过预期：<b>Zoom Video通信公司</b>（纳斯达克：ZM）及<b>Peloton互动</b>（纳斯达克：PTON）。</blockquote></p><p> <b>Zoom and Peloton were already thriving before the pandemic</b></p><p><blockquote><b>Zoom和Peloton在大流行之前就已经蓬勃发展</b></blockquote></p><p> At first glance, investors may conclude that Zoom is nothing more than a pandemic stock. They may argue that the company's success was predicated almost entirely on the fact that much of the world was in lockdown in 2020 and going into 2021.</p><p><blockquote>乍一看，投资者可能会得出结论，Zoom只不过是一只流行病股票。他们可能会说，该公司的成功几乎完全取决于这样一个事实，即世界大部分地区在2020年和2021年都处于封锁状态。</blockquote></p><p> It's true that Zoom benefited significantly from the rise of virtual work in 2020. After all, revenue for the company's fiscal 2021 (a fiscal year ending Jan. 31, 2021) skyrocketed 326% year over year. But investors should note that the trend of using video to collaborate virtually was already extremely strong before the pandemic; fiscal 2020 revenue rose 88% year over year. Growth at the time was particularly strong from large customers. Zoom's customers contributing more than $100,000 of trailing-12-month revenue increased 86% year over year in the fourth quarter of fiscal 2020.</p><p><blockquote>确实，Zoom从2020年虚拟工作的兴起中受益匪浅。毕竟，该公司2021财年（截至2021年1月31日的财年）的收入同比飙升326%。但投资者应该注意到，在大流行之前，使用视频进行虚拟协作的趋势就已经非常强劲；2020财年收入同比增长88%。当时来自大客户的增长尤其强劲。2020财年第四季度，Zoom的客户过去12个月收入贡献超过10万美元，同比增长86%。</blockquote></p><p> The same goes for Peloton. The company certainly benefited from the pandemic, but revenue during the quarter ending Dec. 31, 2019 was growing at a year-over-year rate of 77%, with connected fitness subscribers increasing 96% year over year.</p><p><blockquote>Peloton也是如此。该公司当然受益于疫情，但截至2019年12月31日的季度收入同比增长77%，联网健身订户同比增长96%。</blockquote></p><p> <b>Continued momentum</b></p><p><blockquote><b>持续的势头</b></blockquote></p><p> The underlying catalysts driving Zoom and Peloton are both still alive and well. Strong growth persists at both companies.</p><p><blockquote>推动Zoom和Peloton的潜在催化剂仍然存在。两家公司都持续强劲增长。</blockquote></p><p> Despite facing extremely tough comparisons in the year-ago quarter, from when both companies were benefiting from soaring demand amid lockdowns, Zoom's and Peloton's revenue in their most recently reported quarters grew 191% and 141% year over year, respectively.</p><p><blockquote>尽管与去年同期相比面临极其严峻的比较，但Zoom和Peloton在最近报告的季度中的收入分别同比增长了191%和141%，当时两家公司都受益于封锁期间需求飙升。</blockquote></p><p> Looking ahead, Zoom notably guided for fiscal 2022 revenue of nearly $4 billion, up from fiscal 2021 revenue of about $2.7 billion.</p><p><blockquote>展望未来，Zoom特别预计2022财年营收将接近40亿美元，高于2021财年约27亿美元的营收。</blockquote></p><p> Boding well for Peloton's continued momentum, management said in its most recent quarterly update that its monthly average workouts per connected fitness subscription rose to an all-time high, showing how the company's products are still yielding high engagement even as the economy reopens.</p><p><blockquote>管理层在最近的季度更新中表示，其每个互联健身订阅的月平均锻炼次数升至历史新高，这预示着Peloton的持续势头，这表明即使经济重新开放，该公司的产品仍然产生高参与度。</blockquote></p><p> <b>Healthy profits</b></p><p><blockquote><b>健康利润</b></blockquote></p><p> Finally, another factor that makes these companies unique from many other growth stocks is that they are already very profitable. Zoom generated $873 million of net income on $3.3 billion of trailing-12-month sales, and Peloton served up $213 million of net income from $3.7 billion in revenue.</p><p><blockquote>最后，这些公司与许多其他成长型股票不同的另一个因素是，它们已经非常有利可图。Zoom过去12个月的销售额为33亿美元，净利润为8.73亿美元，Peloton的净利润为37亿美元，净利润为2.13亿美元。</blockquote></p><p> Substantial profits give these companies an edge when it comes to reinvesting in growth opportunities ahead of them and spending on efforts to enhance their competitive positioning and first-mover advantages in their respective industries.</p><p><blockquote>可观的利润使这些公司在对未来的增长机会进行再投资以及努力增强其在各自行业的竞争地位和先发优势方面具有优势。</blockquote></p><p> While there's no guarantee these two stocks will beat the market over the next 10 years, their recent momentum -- before, during, and after the worst part of the pandemic -- suggests they likely have a promising future.</p><p><blockquote>虽然不能保证这两只股票在未来10年内会跑赢市场，但它们最近的势头——在大流行最严重的时期之前、期间和之后——表明它们的未来可能充满希望。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/10/2-growth-stocks-for-the-next-10-years/\">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":{"ZM":"Zoom","PTON":"Peloton Interactive, Inc."},"source_url":"https://www.fool.com/investing/2021/07/10/2-growth-stocks-for-the-next-10-years/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196440758","content_text":"Key Points\n\nGrowth stocks may be riskier than stable and established companies, but carefully selected ones may be worth it.\nStay-at-home trends have helped these companies, but their growth rates were high before the pandemic, too.\nBoth of these fast-growing tech businesses are already profitable.\n\nThere's an interesting dilemma when it comes to picking stocks investors can likely hold for years or even decades. On the one hand, investors looking to hold shares for the long haul can stick with stable and established companies that have been around for decades and will likely continue succeeding for the foreseeable future -- companies like Waste Management and Berkshire Hathaway. The downside to this approach, however, is that investors may miss out on the potential outperformance that could come from fast-growing companies over the long haul.\nThe issue with buying growth stocks, however, is that it's extremely difficult to gauge how long their rapid top-line growth rates can persist. Further, these companies' stock prices could perform very poorly if the growth prospects already baked into the stock price don't pan out. In other words, there's arguably more risk when it comes to betting on growth stocks for the next decade than there is for stable and established companies with decades of success behind them.\nSo if an investor wants to buy growth stocks with a high chance of exceeding expectations over the next 10 years, they better have some pretty good reasons to believe these companies can do exactly that.\nIMAGE SOURCE: GETTY IMAGES.\nHere are two growth stocks that have a shot at not only living up to high expectations over the next 10 years but possibly even exceeding them:Zoom Video Communications(NASDAQ:ZM) and Peloton Interactive(NASDAQ:PTON).\nZoom and Peloton were already thriving before the pandemic\nAt first glance, investors may conclude that Zoom is nothing more than a pandemic stock. They may argue that the company's success was predicated almost entirely on the fact that much of the world was in lockdown in 2020 and going into 2021.\nIt's true that Zoom benefited significantly from the rise of virtual work in 2020. After all, revenue for the company's fiscal 2021 (a fiscal year ending Jan. 31, 2021) skyrocketed 326% year over year. But investors should note that the trend of using video to collaborate virtually was already extremely strong before the pandemic; fiscal 2020 revenue rose 88% year over year. Growth at the time was particularly strong from large customers. Zoom's customers contributing more than $100,000 of trailing-12-month revenue increased 86% year over year in the fourth quarter of fiscal 2020.\nThe same goes for Peloton. The company certainly benefited from the pandemic, but revenue during the quarter ending Dec. 31, 2019 was growing at a year-over-year rate of 77%, with connected fitness subscribers increasing 96% year over year.\nContinued momentum\nThe underlying catalysts driving Zoom and Peloton are both still alive and well. Strong growth persists at both companies.\nDespite facing extremely tough comparisons in the year-ago quarter, from when both companies were benefiting from soaring demand amid lockdowns, Zoom's and Peloton's revenue in their most recently reported quarters grew 191% and 141% year over year, respectively.\nLooking ahead, Zoom notably guided for fiscal 2022 revenue of nearly $4 billion, up from fiscal 2021 revenue of about $2.7 billion.\nBoding well for Peloton's continued momentum, management said in its most recent quarterly update that its monthly average workouts per connected fitness subscription rose to an all-time high, showing how the company's products are still yielding high engagement even as the economy reopens.\nHealthy profits\nFinally, another factor that makes these companies unique from many other growth stocks is that they are already very profitable. Zoom generated $873 million of net income on $3.3 billion of trailing-12-month sales, and Peloton served up $213 million of net income from $3.7 billion in revenue.\nSubstantial profits give these companies an edge when it comes to reinvesting in growth opportunities ahead of them and spending on efforts to enhance their competitive positioning and first-mover advantages in their respective industries.\nWhile there's no guarantee these two stocks will beat the market over the next 10 years, their recent momentum -- before, during, and after the worst part of the pandemic -- suggests they likely have a promising future.","news_type":1,"symbols_score_info":{"PTON":0.9,"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809236288,"gmtCreate":1627371701444,"gmtModify":1631891540041,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Trying to make us sell cheap&nbsp;so u can buy","listText":"Trying to make us sell cheap&nbsp;so u can buy","text":"Trying to make us sell cheap so u can buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809236288","repostId":"1139478455","repostType":4,"repost":{"id":"1139478455","kind":"news","pubTimestamp":1627370605,"share":"https://www.laohu8.com/m/news/1139478455?lang=zh_CN&edition=full","pubTime":"2021-07-27 15:23","market":"us","language":"en","title":"Palantir: Prepare To Be Disappointed<blockquote>Palantir：做好失望的准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139478455","media":"seekingalpha","summary":"Summary\n\nWe continue to believe that Palantir’s upside appears to be limited and its future growth i","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>We continue to believe that Palantir’s upside appears to be limited and its future growth is already priced in.</li>  <li>Our analysis shows that Palantir’s fair value is $8.22 per share, which represents a downside of over 60% from the current market price.</li>  <li>The dilution risk and the continuous selling pressure are likely going to prevent the appreciation of Palantir’s stock anytime soon.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ce2494cb75075c64622ebd6b351e43d\" tg-width=\"1536\" tg-height=\"1155\" referrerpolicy=\"no-referrer\"><span>Kevin Dietsch/Getty Images News</span></p><p><blockquote><ul><li>我们仍然认为Palantir的上涨空间似乎有限，其未来的增长已经被消化。</li><li>我们的分析显示，Palantir的公允价值为每股8.22美元，较当前市场价格下跌超过60%。</li><li>稀释风险和持续的抛售压力可能会很快阻止Palantir股票的升值。</li></ul><p class=\"t-img-caption\"><span>凯文·迪奇/盖蒂图片社新闻</span></p></blockquote></p><p> Palantir (PLTR) has been underperforming the market in recent weeks and we believe that its stock still has more room to fall. Our analysis shows that Palantir is extremely overvalued at the current levels and several issues are likely going to prevent its stock from appreciating further anytime soon. For that reason, we continue to believe that it’s better to avoid Palantir at the current price, as its upside appears to be limited.</p><p><blockquote>Palantir（PLTR）最近几周的表现一直逊于市场，我们认为其股价仍有更大的下跌空间。我们的分析表明，Palantir在目前的水平上被严重高估，一些问题可能会阻止其股票在短期内进一步升值。因此，我们仍然认为最好以当前价格避开Palantir，因为其上涨空间似乎有限。</blockquote></p><p> <b>There Are Several Red Flags, Which You Shouldn’t Ignore</b></p><p><blockquote><b>有几个危险信号，你不应该忽视</b></blockquote></p><p> Palantir specializes in creating custom software solutions for collecting data for its clients, who are mostly government agencies and public companies. While some might think that Palantir is a young company with lots of potential, the reality is that it’s not a startup, as it has been in the business for almost two decades already, and since that time it has managed to add less than 200 customers. As a result, the company is exposed to a limited pool of organizations, who generate most of the revenues. This is mostly because Palantir doesn’t have a scalable business. The value of the company’s average contract ranges from $5 million to $6 million, which prevents small and medium businesses from using its services. While Palantir tries to tackle this issue by offering its Foundry platform for the commercial sector at attractive terms, it’s still too soon to tell whether it will improve its affordability to most of the third parties and have any major impact on its financials in the long run.</p><p><blockquote>Palantir专门为其客户创建用于收集数据的定制软件解决方案，这些客户大多是政府机构和上市公司。虽然有些人可能认为Palantir是一家具有巨大潜力的年轻公司，但事实是它并不是一家初创公司，因为它已经经营了近二十年，从那时起，它已经设法增加了不到200个客户。因此，该公司接触到的组织数量有限，而这些组织创造了大部分收入。这主要是因为Palantir没有可扩展的业务。该公司的平均合同价值从500万美元到600万美元不等，这使得中小型企业无法使用其服务。虽然Palantir试图通过以有吸引力的条款为商业领域提供代工平台来解决这一问题，但现在判断它是否会提高大多数第三方的承受能力并从长远来看对其财务状况产生任何重大影响还为时过早。</blockquote></p><p> In addition, while bulls might want to deny this, but Palantir operates like a consulting company. The company has a special position of a forward-deployed engineer, who analyzes different processes of potential clients and then explains how Palantir’s software could help them improve their operations. Considering this, it’s safe to say that Palantir doesn’t have a unique business model since its whole proposition is that it can analyze the available data better than others. However, nothing stops new entrants from entering the field and offering similar solutions, and nothing stops organizations' internal IT departments from developing better tools to analyze all of the processes at a more affordable price.</p><p><blockquote>此外，虽然多头可能想否认这一点，但Palantir的运营方式就像一家咨询公司。该公司有一个特殊的职位，即前沿部署工程师，他分析潜在客户的不同流程，然后解释Palantir的软件如何帮助他们改善运营。考虑到这一点，可以肯定地说Palantir没有独特的商业模式，因为它的整个主张是它可以比其他人更好地分析可用数据。然而，没有什么能阻止新进入者进入该领域并提供类似的解决方案，也没有什么能阻止组织的内部IT部门开发更好的工具，以更实惠的价格分析所有流程。</blockquote></p><p> Another downside of Palantir is that despite the increase in margins and gross profit in recent quarters, it never made a profit in its history after being so long in the business. Its operating loss has onlywidenedin recent years from -$600 million in 2018 to -$1.17 billion in 2020, to -$1.22 billion in the last twelve months. This is due to the excessive stock-based compensation program that results in increased expenses and massive dilution, which is something that a lot of bulls tend to ignore. Let’s not forget that the company’s expenses relating to the SBC program increased by around 257% year over year last quarter and were $193 million. At the same time, Palantir already has 1.8 billion shares outstanding, an increase from 1.52 billion shares, which were outstanding at the end of last year. The problem is that the excessive SBC program will continue to be a major issue for the company’s investors since there are still 477 million optionsoutstanding, which will dilute the current shareholders by more than 20% if fully exercised.</p><p><blockquote>Palantir的另一个缺点是，尽管最近几个季度利润率和毛利润有所增加，但在从事该业务这么长时间后，它在历史上从未盈利过。近年来，其运营亏损仅从2018年的-6亿美元扩大到2020年的-11.7亿美元，并在过去12个月扩大到-12.2亿美元。这是由于过度的股票薪酬计划导致费用增加和大规模稀释，这是许多多头往往忽视的。我们不要忘记，该公司上季度与SBC计划相关的费用同比增长了约257%，达到1.93亿美元。与此同时，Palantir已拥有18亿股流通股，较去年年底的15.2亿股有所增加。问题是，过度的SBC计划将继续成为公司投资者的一个主要问题，因为仍有4.77亿份期权尚未行使，如果完全行使，将使现有股东稀释20%以上。</blockquote></p><p> For that reason, we continue to believe that Palantir’s stock will continue to be an unattractive investment and it’ll likely continue to underperform the market. It’s already down ~15% since our bearisharticlewas published a month ago and we believe that there’s more room for a depreciation.</p><p><blockquote>因此，我们仍然认为Palantir的股票将继续是一项没有吸引力的投资，并且可能会继续跑输市场。自一个月前我们的看跌文章发表以来，它已经下跌了约15%，我们认为还有更大的贬值空间。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/facca499bd702a4193cac4eabbe4a9a2\" tg-width=\"1280\" tg-height=\"443\" referrerpolicy=\"no-referrer\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p></p><p> Another reason to be bearish about Palantir is due to the fact that there’s an extreme selling pressure, which is created by the company’s insiders and its CEO in particular, who are constantly dumping their shares on an open market. In July alone insiderssoldin total $63 million worth of Palantir shares, which is only $31 million slightly less than what they sold in Q1 when the lockup period expired. Considering this and the fact that they still have ~10% ownership stake in the company, it’s safe to assume they’ll continue to sell their shares and create an even greater selling pressure, which is likely going to prevent the stock from significantly appreciating from the current levels.</p><p><blockquote>看跌Palantir的另一个原因是存在巨大的抛售压力，这是由公司内部人士，尤其是首席执行官造成的，他们不断在公开市场上抛售股票。仅在7月份，内部人士就出售了总价值6300万美元的Palantir股票，仅比第一季度禁售期到期时出售的股票略少3100万美元。考虑到这一点以及他们仍持有该公司约10%的股权这一事实，可以肯定的是，他们将继续出售股票并造成更大的抛售压力，这可能会阻止该股大幅升值从当前水平。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> We created a discounted cash flow model to find Palantir’s fair value. The weighted average cost of capital in our model is 6%, while the terminal growth rate is 3%.</p><p><blockquote>我们创建了一个贴现现金流模型来查找Palantir的公允价值。我们模型中的加权平均资本成本为6%，而终端增长率为3%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb588ed877784db58cfe10b7d49d6dae\" tg-width=\"772\" tg-height=\"390\" referrerpolicy=\"no-referrer\"><span>Source: Capital IQ, Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Capital IQ，自己的估计</span></p></blockquote></p><p> After doing all the necessary calculations, our DCF model showed that Palantir’s fair value is $8.47 per share, which represents a downside of over 60% from the current market price.</p><p><blockquote>在进行所有必要的计算后，我们的DCF模型显示Palantir的公允价值为每股8.47美元，较当前市场价格下跌超过60%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9988abd16861dfad80d5febd22b2c1fb\" tg-width=\"404\" tg-height=\"368\" referrerpolicy=\"no-referrer\"><span>Source: Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：自己的估计</span></p></blockquote></p><p> For relative valuation, we compared Palantir to eight other companies from the tech industry and the SaaS niche in particular. By looking at the numbers below, we could safely say that Palantir is extremely overvalued to others, especially since its EBITDA margin of -72.8% is the worst among its peers, and at a market cap of ~$40 billion, its stock is overpriced.</p><p><blockquote>对于相对估值，我们将Palantir与来自科技行业，特别是SaaS利基市场的其他八家公司进行了比较。通过查看下面的数字，我们可以有把握地说，Palantir对其他人来说被严重高估，特别是因为其EBITDA利润率为-72.8%，是同行中最差的，而且市值约为400亿美元，其股票定价过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70de8f9f7b52ae29d77492ed21083982\" tg-width=\"751\" tg-height=\"335\" referrerpolicy=\"no-referrer\"><span>Source: Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Capital IQ</span></p></blockquote></p><p> By consolidating the DCF model and the relative valuation method and giving the former 75% weight in the final analysis, while giving the latter 25$ weight in the final analysis, we concluded that Palantir’s final fair value is $8.22 per share, which is significantly below its current market price of ~$22 per share.</p><p><blockquote>通过合并DCF模型和相对估值法，并在最终分析中给予前者75%的权重，而在最终分析中给予后者25美元的权重，我们得出的结论是，Palantir的最终公允价值为每股8.22美元，明显低于其目前的市场价格约为每股22美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05db90bdfb26c691331c9cdede01a87b\" tg-width=\"595\" tg-height=\"297\" referrerpolicy=\"no-referrer\"><span>Source: Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：自己的估计</span></p></blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Despite its advanced data software solutions, Palantir continues to be an unattractive investment in our opinion and its stock is unlikely to move significantly higher anytime soon. The company doesn’t have a unique proposition at an affordable price on the market and there’s every reason to believe that its expenses will continue to increase in the following years due to the higher inflation and increased competition, while its bottom line will continue to suffer. As a result, despite signing new multi-million contracts from time to time, it’s still hard to justify its ~$40 billion market cap. Considering this, we strongly believe that Palantir is not a value investment at this stage, and not a growth play as well since the dilution risk and the continuous selling pressure are likely going to prevent the appreciation of its stock anytime soon.</p><p><blockquote>尽管Palantir拥有先进的数据软件解决方案，但我们认为Palantir仍然是一项没有吸引力的投资，其股价不太可能很快大幅走高。该公司在市场上没有一个价格实惠的独特主张，而且有充分的理由相信，由于通胀上升和竞争加剧，其费用在未来几年将继续增加，而其利润将继续下降。遭受。因此，尽管不时签署数百万美元的新合同，但仍然很难证明其约400亿美元的市值是合理的。考虑到这一点，我们坚信Palantir现阶段不是价值投资，也不是成长型投资，因为稀释风险和持续的抛售压力可能会很快阻止其股票升值。</blockquote></p><p> While we don’t expect the stock to depreciate to its fair value of $8.22 per share in the foreseeable future, a decent decline from the current market price is more than possible, especially since the company already trades at 28 times its revenues and is considered to be overvalued. For that reason, we stick to our opinion that Palantir’s upside appears to be limited and its future growth is already priced in.</p><p><blockquote>虽然我们预计该股在可预见的未来不会贬值至每股8.22美元的公允价值，但较当前市场价格大幅下跌的可能性很大，特别是因为该公司的交易价格已经是其收入的28倍，并且被认为被高估了。因此，我们坚持认为Palantir的上涨空间似乎有限，其未来增长已经被消化。</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>Palantir: Prepare To Be Disappointed<blockquote>Palantir：做好失望的准备</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir: Prepare To Be Disappointed<blockquote>Palantir：做好失望的准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-27 15:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>We continue to believe that Palantir’s upside appears to be limited and its future growth is already priced in.</li>  <li>Our analysis shows that Palantir’s fair value is $8.22 per share, which represents a downside of over 60% from the current market price.</li>  <li>The dilution risk and the continuous selling pressure are likely going to prevent the appreciation of Palantir’s stock anytime soon.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ce2494cb75075c64622ebd6b351e43d\" tg-width=\"1536\" tg-height=\"1155\" referrerpolicy=\"no-referrer\"><span>Kevin Dietsch/Getty Images News</span></p><p><blockquote><ul><li>我们仍然认为Palantir的上涨空间似乎有限，其未来的增长已经被消化。</li><li>我们的分析显示，Palantir的公允价值为每股8.22美元，较当前市场价格下跌超过60%。</li><li>稀释风险和持续的抛售压力可能会很快阻止Palantir股票的升值。</li></ul><p class=\"t-img-caption\"><span>凯文·迪奇/盖蒂图片社新闻</span></p></blockquote></p><p> Palantir (PLTR) has been underperforming the market in recent weeks and we believe that its stock still has more room to fall. Our analysis shows that Palantir is extremely overvalued at the current levels and several issues are likely going to prevent its stock from appreciating further anytime soon. For that reason, we continue to believe that it’s better to avoid Palantir at the current price, as its upside appears to be limited.</p><p><blockquote>Palantir（PLTR）最近几周的表现一直逊于市场，我们认为其股价仍有更大的下跌空间。我们的分析表明，Palantir在目前的水平上被严重高估，一些问题可能会阻止其股票在短期内进一步升值。因此，我们仍然认为最好以当前价格避开Palantir，因为其上涨空间似乎有限。</blockquote></p><p> <b>There Are Several Red Flags, Which You Shouldn’t Ignore</b></p><p><blockquote><b>有几个危险信号，你不应该忽视</b></blockquote></p><p> Palantir specializes in creating custom software solutions for collecting data for its clients, who are mostly government agencies and public companies. While some might think that Palantir is a young company with lots of potential, the reality is that it’s not a startup, as it has been in the business for almost two decades already, and since that time it has managed to add less than 200 customers. As a result, the company is exposed to a limited pool of organizations, who generate most of the revenues. This is mostly because Palantir doesn’t have a scalable business. The value of the company’s average contract ranges from $5 million to $6 million, which prevents small and medium businesses from using its services. While Palantir tries to tackle this issue by offering its Foundry platform for the commercial sector at attractive terms, it’s still too soon to tell whether it will improve its affordability to most of the third parties and have any major impact on its financials in the long run.</p><p><blockquote>Palantir专门为其客户创建用于收集数据的定制软件解决方案，这些客户大多是政府机构和上市公司。虽然有些人可能认为Palantir是一家具有巨大潜力的年轻公司，但事实是它并不是一家初创公司，因为它已经经营了近二十年，从那时起，它已经设法增加了不到200个客户。因此，该公司接触到的组织数量有限，而这些组织创造了大部分收入。这主要是因为Palantir没有可扩展的业务。该公司的平均合同价值从500万美元到600万美元不等，这使得中小型企业无法使用其服务。虽然Palantir试图通过以有吸引力的条款为商业领域提供代工平台来解决这一问题，但现在判断它是否会提高大多数第三方的承受能力并从长远来看对其财务状况产生任何重大影响还为时过早。</blockquote></p><p> In addition, while bulls might want to deny this, but Palantir operates like a consulting company. The company has a special position of a forward-deployed engineer, who analyzes different processes of potential clients and then explains how Palantir’s software could help them improve their operations. Considering this, it’s safe to say that Palantir doesn’t have a unique business model since its whole proposition is that it can analyze the available data better than others. However, nothing stops new entrants from entering the field and offering similar solutions, and nothing stops organizations' internal IT departments from developing better tools to analyze all of the processes at a more affordable price.</p><p><blockquote>此外，虽然多头可能想否认这一点，但Palantir的运营方式就像一家咨询公司。该公司有一个特殊的职位，即前沿部署工程师，他分析潜在客户的不同流程，然后解释Palantir的软件如何帮助他们改善运营。考虑到这一点，可以肯定地说Palantir没有独特的商业模式，因为它的整个主张是它可以比其他人更好地分析可用数据。然而，没有什么能阻止新进入者进入该领域并提供类似的解决方案，也没有什么能阻止组织的内部IT部门开发更好的工具，以更实惠的价格分析所有流程。</blockquote></p><p> Another downside of Palantir is that despite the increase in margins and gross profit in recent quarters, it never made a profit in its history after being so long in the business. Its operating loss has onlywidenedin recent years from -$600 million in 2018 to -$1.17 billion in 2020, to -$1.22 billion in the last twelve months. This is due to the excessive stock-based compensation program that results in increased expenses and massive dilution, which is something that a lot of bulls tend to ignore. Let’s not forget that the company’s expenses relating to the SBC program increased by around 257% year over year last quarter and were $193 million. At the same time, Palantir already has 1.8 billion shares outstanding, an increase from 1.52 billion shares, which were outstanding at the end of last year. The problem is that the excessive SBC program will continue to be a major issue for the company’s investors since there are still 477 million optionsoutstanding, which will dilute the current shareholders by more than 20% if fully exercised.</p><p><blockquote>Palantir的另一个缺点是，尽管最近几个季度利润率和毛利润有所增加，但在从事该业务这么长时间后，它在历史上从未盈利过。近年来，其运营亏损仅从2018年的-6亿美元扩大到2020年的-11.7亿美元，并在过去12个月扩大到-12.2亿美元。这是由于过度的股票薪酬计划导致费用增加和大规模稀释，这是许多多头往往忽视的。我们不要忘记，该公司上季度与SBC计划相关的费用同比增长了约257%，达到1.93亿美元。与此同时，Palantir已拥有18亿股流通股，较去年年底的15.2亿股有所增加。问题是，过度的SBC计划将继续成为公司投资者的一个主要问题，因为仍有4.77亿份期权尚未行使，如果完全行使，将使现有股东稀释20%以上。</blockquote></p><p> For that reason, we continue to believe that Palantir’s stock will continue to be an unattractive investment and it’ll likely continue to underperform the market. It’s already down ~15% since our bearisharticlewas published a month ago and we believe that there’s more room for a depreciation.</p><p><blockquote>因此，我们仍然认为Palantir的股票将继续是一项没有吸引力的投资，并且可能会继续跑输市场。自一个月前我们的看跌文章发表以来，它已经下跌了约15%，我们认为还有更大的贬值空间。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/facca499bd702a4193cac4eabbe4a9a2\" tg-width=\"1280\" tg-height=\"443\" referrerpolicy=\"no-referrer\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p></p><p> Another reason to be bearish about Palantir is due to the fact that there’s an extreme selling pressure, which is created by the company’s insiders and its CEO in particular, who are constantly dumping their shares on an open market. In July alone insiderssoldin total $63 million worth of Palantir shares, which is only $31 million slightly less than what they sold in Q1 when the lockup period expired. Considering this and the fact that they still have ~10% ownership stake in the company, it’s safe to assume they’ll continue to sell their shares and create an even greater selling pressure, which is likely going to prevent the stock from significantly appreciating from the current levels.</p><p><blockquote>看跌Palantir的另一个原因是存在巨大的抛售压力，这是由公司内部人士，尤其是首席执行官造成的，他们不断在公开市场上抛售股票。仅在7月份，内部人士就出售了总价值6300万美元的Palantir股票，仅比第一季度禁售期到期时出售的股票略少3100万美元。考虑到这一点以及他们仍持有该公司约10%的股权这一事实，可以肯定的是，他们将继续出售股票并造成更大的抛售压力，这可能会阻止该股大幅升值从当前水平。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> We created a discounted cash flow model to find Palantir’s fair value. The weighted average cost of capital in our model is 6%, while the terminal growth rate is 3%.</p><p><blockquote>我们创建了一个贴现现金流模型来查找Palantir的公允价值。我们模型中的加权平均资本成本为6%，而终端增长率为3%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb588ed877784db58cfe10b7d49d6dae\" tg-width=\"772\" tg-height=\"390\" referrerpolicy=\"no-referrer\"><span>Source: Capital IQ, Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Capital IQ，自己的估计</span></p></blockquote></p><p> After doing all the necessary calculations, our DCF model showed that Palantir’s fair value is $8.47 per share, which represents a downside of over 60% from the current market price.</p><p><blockquote>在进行所有必要的计算后，我们的DCF模型显示Palantir的公允价值为每股8.47美元，较当前市场价格下跌超过60%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9988abd16861dfad80d5febd22b2c1fb\" tg-width=\"404\" tg-height=\"368\" referrerpolicy=\"no-referrer\"><span>Source: Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：自己的估计</span></p></blockquote></p><p> For relative valuation, we compared Palantir to eight other companies from the tech industry and the SaaS niche in particular. By looking at the numbers below, we could safely say that Palantir is extremely overvalued to others, especially since its EBITDA margin of -72.8% is the worst among its peers, and at a market cap of ~$40 billion, its stock is overpriced.</p><p><blockquote>对于相对估值，我们将Palantir与来自科技行业，特别是SaaS利基市场的其他八家公司进行了比较。通过查看下面的数字，我们可以有把握地说，Palantir对其他人来说被严重高估，特别是因为其EBITDA利润率为-72.8%，是同行中最差的，而且市值约为400亿美元，其股票定价过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70de8f9f7b52ae29d77492ed21083982\" tg-width=\"751\" tg-height=\"335\" referrerpolicy=\"no-referrer\"><span>Source: Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Capital IQ</span></p></blockquote></p><p> By consolidating the DCF model and the relative valuation method and giving the former 75% weight in the final analysis, while giving the latter 25$ weight in the final analysis, we concluded that Palantir’s final fair value is $8.22 per share, which is significantly below its current market price of ~$22 per share.</p><p><blockquote>通过合并DCF模型和相对估值法，并在最终分析中给予前者75%的权重，而在最终分析中给予后者25美元的权重，我们得出的结论是，Palantir的最终公允价值为每股8.22美元，明显低于其目前的市场价格约为每股22美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05db90bdfb26c691331c9cdede01a87b\" tg-width=\"595\" tg-height=\"297\" referrerpolicy=\"no-referrer\"><span>Source: Own estimates</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：自己的估计</span></p></blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Despite its advanced data software solutions, Palantir continues to be an unattractive investment in our opinion and its stock is unlikely to move significantly higher anytime soon. The company doesn’t have a unique proposition at an affordable price on the market and there’s every reason to believe that its expenses will continue to increase in the following years due to the higher inflation and increased competition, while its bottom line will continue to suffer. As a result, despite signing new multi-million contracts from time to time, it’s still hard to justify its ~$40 billion market cap. Considering this, we strongly believe that Palantir is not a value investment at this stage, and not a growth play as well since the dilution risk and the continuous selling pressure are likely going to prevent the appreciation of its stock anytime soon.</p><p><blockquote>尽管Palantir拥有先进的数据软件解决方案，但我们认为Palantir仍然是一项没有吸引力的投资，其股价不太可能很快大幅走高。该公司在市场上没有一个价格实惠的独特主张，而且有充分的理由相信，由于通胀上升和竞争加剧，其费用在未来几年将继续增加，而其利润将继续下降。遭受。因此，尽管不时签署数百万美元的新合同，但仍然很难证明其约400亿美元的市值是合理的。考虑到这一点，我们坚信Palantir现阶段不是价值投资，也不是成长型投资，因为稀释风险和持续的抛售压力可能会很快阻止其股票升值。</blockquote></p><p> While we don’t expect the stock to depreciate to its fair value of $8.22 per share in the foreseeable future, a decent decline from the current market price is more than possible, especially since the company already trades at 28 times its revenues and is considered to be overvalued. For that reason, we stick to our opinion that Palantir’s upside appears to be limited and its future growth is already priced in.</p><p><blockquote>虽然我们预计该股在可预见的未来不会贬值至每股8.22美元的公允价值，但较当前市场价格大幅下跌的可能性很大，特别是因为该公司的交易价格已经是其收入的28倍，并且被认为被高估了。因此，我们坚持认为Palantir的上涨空间似乎有限，其未来增长已经被消化。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4441334-palantir-prepare-to-be-disappointed\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4441334-palantir-prepare-to-be-disappointed","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139478455","content_text":"Summary\n\nWe continue to believe that Palantir’s upside appears to be limited and its future growth is already priced in.\nOur analysis shows that Palantir’s fair value is $8.22 per share, which represents a downside of over 60% from the current market price.\nThe dilution risk and the continuous selling pressure are likely going to prevent the appreciation of Palantir’s stock anytime soon.\n\nKevin Dietsch/Getty Images News\nPalantir (PLTR) has been underperforming the market in recent weeks and we believe that its stock still has more room to fall. Our analysis shows that Palantir is extremely overvalued at the current levels and several issues are likely going to prevent its stock from appreciating further anytime soon. For that reason, we continue to believe that it’s better to avoid Palantir at the current price, as its upside appears to be limited.\nThere Are Several Red Flags, Which You Shouldn’t Ignore\nPalantir specializes in creating custom software solutions for collecting data for its clients, who are mostly government agencies and public companies. While some might think that Palantir is a young company with lots of potential, the reality is that it’s not a startup, as it has been in the business for almost two decades already, and since that time it has managed to add less than 200 customers. As a result, the company is exposed to a limited pool of organizations, who generate most of the revenues. This is mostly because Palantir doesn’t have a scalable business. The value of the company’s average contract ranges from $5 million to $6 million, which prevents small and medium businesses from using its services. While Palantir tries to tackle this issue by offering its Foundry platform for the commercial sector at attractive terms, it’s still too soon to tell whether it will improve its affordability to most of the third parties and have any major impact on its financials in the long run.\nIn addition, while bulls might want to deny this, but Palantir operates like a consulting company. The company has a special position of a forward-deployed engineer, who analyzes different processes of potential clients and then explains how Palantir’s software could help them improve their operations. Considering this, it’s safe to say that Palantir doesn’t have a unique business model since its whole proposition is that it can analyze the available data better than others. However, nothing stops new entrants from entering the field and offering similar solutions, and nothing stops organizations' internal IT departments from developing better tools to analyze all of the processes at a more affordable price.\nAnother downside of Palantir is that despite the increase in margins and gross profit in recent quarters, it never made a profit in its history after being so long in the business. Its operating loss has onlywidenedin recent years from -$600 million in 2018 to -$1.17 billion in 2020, to -$1.22 billion in the last twelve months. This is due to the excessive stock-based compensation program that results in increased expenses and massive dilution, which is something that a lot of bulls tend to ignore. Let’s not forget that the company’s expenses relating to the SBC program increased by around 257% year over year last quarter and were $193 million. At the same time, Palantir already has 1.8 billion shares outstanding, an increase from 1.52 billion shares, which were outstanding at the end of last year. The problem is that the excessive SBC program will continue to be a major issue for the company’s investors since there are still 477 million optionsoutstanding, which will dilute the current shareholders by more than 20% if fully exercised.\nFor that reason, we continue to believe that Palantir’s stock will continue to be an unattractive investment and it’ll likely continue to underperform the market. It’s already down ~15% since our bearisharticlewas published a month ago and we believe that there’s more room for a depreciation.\nChart: Seeking Alpha\nAnother reason to be bearish about Palantir is due to the fact that there’s an extreme selling pressure, which is created by the company’s insiders and its CEO in particular, who are constantly dumping their shares on an open market. In July alone insiderssoldin total $63 million worth of Palantir shares, which is only $31 million slightly less than what they sold in Q1 when the lockup period expired. Considering this and the fact that they still have ~10% ownership stake in the company, it’s safe to assume they’ll continue to sell their shares and create an even greater selling pressure, which is likely going to prevent the stock from significantly appreciating from the current levels.\nValuation\nWe created a discounted cash flow model to find Palantir’s fair value. The weighted average cost of capital in our model is 6%, while the terminal growth rate is 3%.\nSource: Capital IQ, Own estimates\nAfter doing all the necessary calculations, our DCF model showed that Palantir’s fair value is $8.47 per share, which represents a downside of over 60% from the current market price.\nSource: Own estimates\nFor relative valuation, we compared Palantir to eight other companies from the tech industry and the SaaS niche in particular. By looking at the numbers below, we could safely say that Palantir is extremely overvalued to others, especially since its EBITDA margin of -72.8% is the worst among its peers, and at a market cap of ~$40 billion, its stock is overpriced.\nSource: Capital IQ\nBy consolidating the DCF model and the relative valuation method and giving the former 75% weight in the final analysis, while giving the latter 25$ weight in the final analysis, we concluded that Palantir’s final fair value is $8.22 per share, which is significantly below its current market price of ~$22 per share.\nSource: Own estimates\nTakeaway\nDespite its advanced data software solutions, Palantir continues to be an unattractive investment in our opinion and its stock is unlikely to move significantly higher anytime soon. The company doesn’t have a unique proposition at an affordable price on the market and there’s every reason to believe that its expenses will continue to increase in the following years due to the higher inflation and increased competition, while its bottom line will continue to suffer. As a result, despite signing new multi-million contracts from time to time, it’s still hard to justify its ~$40 billion market cap. Considering this, we strongly believe that Palantir is not a value investment at this stage, and not a growth play as well since the dilution risk and the continuous selling pressure are likely going to prevent the appreciation of its stock anytime soon.\nWhile we don’t expect the stock to depreciate to its fair value of $8.22 per share in the foreseeable future, a decent decline from the current market price is more than possible, especially since the company already trades at 28 times its revenues and is considered to be overvalued. For that reason, we stick to our opinion that Palantir’s upside appears to be limited and its future growth is already priced in.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":2343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147208827,"gmtCreate":1626358109069,"gmtModify":1631893839302,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"The title almost stopped my heart. Can't they phrase it better??!!","listText":"The title almost stopped my heart. Can't they phrase it better??!!","text":"The title almost stopped my heart. Can't they phrase it better??!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/147208827","repostId":"2151269095","repostType":4,"isVote":1,"tweetType":1,"viewCount":516,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144638172,"gmtCreate":1626278491496,"gmtModify":1633928295366,"author":{"id":"4087614241741070","authorId":"4087614241741070","name":"ee22","avatar":"https://static.tigerbbs.com/028308438db45c2a37d707ada16c5045","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087614241741070","idStr":"4087614241741070"},"themes":[],"htmlText":"Competition with Pfizer? So p shares will drop?","listText":"Competition with Pfizer? So p shares will drop?","text":"Competition with Pfizer? So p shares will drop?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144638172","repostId":"1110985217","repostType":2,"isVote":1,"tweetType":1,"viewCount":365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}