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- koabikoabi
  ·2021-12-16
  Teslaaaaa
  4,223 评论
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- koabikoabi
  ·2021-10-26
  $Tesla Motors(TSLA)$ tsla pls fund me a model 3
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- koabikoabi
  ·2021-10-19
  Yay or nay
  非常抱歉，此主贴已删除
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- koabikoabi
  ·2021-10-05
  Facebook down
  非常抱歉，此主贴已删除
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- koabikoabi
  ·2021-06-15
  Comment pls
  非常抱歉，此主贴已删除
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- koabikoabi
  ·2021-06-09
  Nice move
  非常抱歉，此主贴已删除
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- koabikoabi
  ·2021-02-26
  Oh no
  非常抱歉，此主贴已删除
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- koabikoabi
  ·2021-02-19
  Prolong saga
  GameStop hearing challenges assumptions about rookie investors<blockquote>游戏驿站听证会挑战有关新手投资者的假设</blockquote>
  Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressiona
  GameStop hearing challenges assumptions about rookie investors<blockquote>游戏驿站听证会挑战有关新手投资者的假设</blockquote>
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- koabikoabi
  ·2021-02-05
  💎👐
  The dark side of the GameStop bubble: Driving stock prices to the moon can hurt America<blockquote>游戏驿站泡沫的阴暗面：将股价推上月球会伤害美国</blockquote>
  Shares of GameStop and other companies or assets that shot upin value in recent weeks are now droppi
  The dark side of the GameStop bubble: Driving stock prices to the moon can hurt America<blockquote>游戏驿站泡沫的阴暗面：将股价推上月球会伤害美国</blockquote>
  2,867 评论
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- koabikoabi
  ·2021-02-03
  Diamonds hands 👐💎
  Five things to watch in Reddit stocks trading mania<blockquote>Reddit股票交易狂热中值得关注的五件事</blockquote>
  Feb 2 (Reuters) - Silver dropped more than 4% on Tuesday and GameStop Corp sank 33% in early Eur
  Five things to watch in Reddit stocks trading mania<blockquote>Reddit股票交易狂热中值得关注的五件事</blockquote>
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saga","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/387994328","repostId":"1103921295","repostType":4,"repost":{"id":"1103921295","kind":"news","pubTimestamp":1613706165,"share":"https://www.laohu8.com/m/news/1103921295?lang=zh_CN&edition=full","pubTime":"2021-02-19 11:42","market":"us","language":"en","title":"GameStop hearing challenges assumptions about rookie investors<blockquote>游戏驿站听证会挑战有关新手投资者的假设</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103921295","media":"Marketwatch","summary":"Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressiona","content":"<p>  <b>Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressional hearing on GameStop’s rise and fall.</b>  YOLO? Maybe not quite so.</p><p><blockquote><b>Robinhood首席执行官Vlad Tenev在关于游戏驿站兴衰的国会听证会上讨论了平均账户规模和用户人口统计数据。</b>约洛？也许不完全是这样。</blockquote></p><p> During the GameStop trading frenzy, some observers worried many rookie retail investors banding together on sites like Reddit’s WallStreetBets would bet big — a so-called “YOLO trade” in the forum’sslang— andend up losing badly.</p><p><blockquote>在游戏驿站交易狂潮期间，一些观察人士担心，许多在Reddit的WallStreetBets等网站上聚集在一起的新手散户投资者会下大赌注——用论坛的俚语来说就是所谓的“YOLO交易”——最终输得很惨。</blockquote></p><p> No doubt, this wasa serious event that rocked the stock market, bringing it “dangerously close” to collapse, according to Thomas Peterffy, founder and chairman of Interactive Brokers Group.</p><p><blockquote>盈透证券集团创始人兼董事长托马斯·彼得菲表示，毫无疑问，这是一个震惊股市的严重事件，使其“危险地接近”崩溃。</blockquote></p><p> But at a closely-watched congressional hearing Thursday on the rise and fall of GameStop shares and other so-called “meme stocks,” statements by one of the key players in the trading firestorm revealed that young investors generally aren’t betting big to reap quick gains.</p><p><blockquote>但在周四举行的备受关注的关于游戏驿站股票和其他所谓“模因股票”涨跌的国会听证会上，交易风暴中的一位关键人物的声明显示，年轻投资者通常不会下大赌注以获得快速收益。</blockquote></p><p> “Contrary to some very misleading and highly uninformed reports, we see evidence that most of our customers are investing for the long term,” said Vlad Tenev, CEO of Robinhood, the popular trading platform that caughtmassive irefor temporarily restricting trades on GameStopGME,-11.43%,AMC EntertainmentAMC,-0.72%and several other companies. As the hearing continued, he repeated that point under lawmaker questions.</p><p><blockquote>Robinhood首席执行官弗拉德·特涅夫(Vlad Tenev)表示：“与一些极具误导性和高度不知情的报道相反，我们看到证据表明我们的大多数客户都在进行长期投资。”Robinhood是一个受欢迎的交易平台，因暂时限制GameStopGME的交易而引起了大规模关注，-11.43%，AMC EntertainmentAMC，-0.72%和其他几家公司。随着听证会的继续，他在议员的提问下重复了这一点。</blockquote></p><p> “What we see is generally not consistent with popular memes suggesting that most of our brokerage customers are unsophisticated day traders taking inordinate risks with large sums of money on complex financial products,”Tenev wrote in prepared testimony submitted ahead of the hearing,pushing back on the idea that his companyencouraged reckless tradingon a platform with 13 million users.</p><p><blockquote>特涅夫在听证会前提交的准备好的证词中写道：“我们所看到的通常与流行的模因不一致，这些模因表明我们的大多数经纪客户都是不成熟的日内交易者，在复杂的金融产品上投入大量资金承担了过度的风险。”他的公司鼓励在一个拥有1300万用户的平台上进行鲁莽交易的想法。</blockquote></p><p> Just 2% of Robinhood users qualified as “pattern day traders” who made four or more trades within five business days, he said. Thirteen percent traded basic options contracts, which can be higher risk, higher reward than straight-ahead buying or selling.</p><p><blockquote>他说，只有2%的Robinhood用户符合“模式日内交易者”的资格，他们在五个工作日内进行了四笔或更多交易。13%的人交易基本期权合约，这可能比直接买入或卖出风险更高，回报更高。</blockquote></p><p> In the face of some pointed questions, he also insisted Robinhood isn’t trying to turn the user experience into a game. “We know investing is serious and that’s why most of our customers are buy and hold,” he said.</p><p><blockquote>面对一些尖锐的问题，他还坚称Robinhood并没有试图将用户体验变成游戏。“我们知道投资是严肃的，这就是为什么我们的大多数客户都是买入并持有，”他说。</blockquote></p><p> (Before the GameStop saga, Massachusetts state regulators filed a complaint against Robinhood for allegedly making trading seem too fun until loses occur. The company previously said itdisputes the allegation.)</p><p><blockquote>（在游戏驿站事件发生之前，马萨诸塞州监管机构对Robinhood提起诉讼，指控其让交易看起来太有趣，直到发生损失。该公司此前表示对这一指控提出异议。）</blockquote></p><p> Tenev and lawmakershave sparredon what Robinhood should and shouldn’t have done during the GameStop saga. GameStop shares once traded at a high point of $483. By Thursday’s market close, GameStop shares were $40.69.</p><p><blockquote>特涅夫和立法者就罗宾汉在游戏驿站传奇中应该做什么和不应该做什么进行了争论。游戏驿站股价一度交易到483美元的高点。截至周四收盘，游戏驿站股价为40.69美元。</blockquote></p><p> But either way, Tenev’s testimony gave an interesting peek at who the newest retail investors are and how much money they are pouring into the market. After all, retail investors were already increasingly entering the stock market before the GameStop drama started.</p><p><blockquote>但不管怎样，特涅夫的证词让我们有趣地了解了谁是最新的散户投资者以及他们向市场投入了多少资金。毕竟，在游戏驿站大戏开始之前，散户投资者就已经越来越多地进入股市。</blockquote></p><p> Fifty-five percent of Americans directly own stock, according to aGallup surveylast year, while 32% of 18- to 29-year-olds said they owned stock.</p><p><blockquote>根据aGallup去年的调查，55%的美国人直接拥有股票，而18至29岁的人中有32%表示他们拥有股票。</blockquote></p><p> The median age of Robinhood investors is 31 and half of users say they are first-time investors. The median account size is about $240, according to Tenev’s statement, and the average account size is about $5,000.</p><p><blockquote>Robinhood投资者的平均年龄为31岁，一半的用户表示他们是首次投资者。根据Tenev的声明，账户规模中位数约为240美元，平均账户规模约为5,000美元。</blockquote></p><p> The fact that 13% of Robinhood users are trading options gives some advocates pause. Barbara Roper, director of investor protection at the Consumer Federation of America,saidthat “strikes us as a pretty high percentage when you consider the characteristics of Robinhood’s customer base (disproportionately young, first-time investors with small accounts).”</p><p><blockquote>13%的Robinhood用户正在交易期权，这一事实让一些倡导者犹豫了。美国消费者联合会投资者保护主任芭芭拉·罗珀(Barbara Roper)表示，“考虑到Robinhood客户群的特征（不成比例的年轻、账户较小的首次投资者），我们发现这一比例相当高。”</blockquote></p><p> Robinhood investors also tend to be a slightly more racially diverse crowd, according to Tenev’s testimony. Nine percent of users are Black, compared to 3% at other firms and 16% are Hispanic, versus 7% at other firms, according to Tenev’s statement.</p><p><blockquote>根据特涅夫的证词，Robinhood投资者的种族也往往更加多元化。根据Tenev的声明，9%的用户是黑人，而其他公司的这一比例为3%；16%是西班牙裔，而其他公司的这一比例为7%。</blockquote></p><p> “Retail investors making up this new surge are different,” testified Jennifer Schulp, the Cato Institute’s director of financial regulation studies.</p><p><blockquote>卡托研究所金融监管研究主任詹妮弗·舒尔普(Jennifer Schulp)表示：“构成这一新浪潮的散户投资者有所不同。”</blockquote></p><p> Retail investors are nicknamed as“dumb money”on Wall Street, Schulp said. “I think it’s insulting. I think the term needs to go out the window. I think the GameStop situation is proof the retail investors are revolutionizing the market …. I think the retail investors here are learning by doing, which is one of the best ways to learn.”</p><p><blockquote>舒尔普说，散户投资者在华尔街被戏称为“傻钱”。“我认为这是一种侮辱。我认为这个词需要被抛弃。我认为游戏驿站的情况证明散户投资者正在彻底改变市场……我认为这里的散户投资者正在边做边学，这是最好的学习方式之一。”</blockquote></p><p> She pointed to research from theFINRA Investor Education Foundationreleased earlier this month digging into the demographics and account balances of new retail investors.</p><p><blockquote>她指出，FINRA投资者教育基金会本月早些时候发布的研究深入研究了新散户投资者的人口统计数据和账户余额。</blockquote></p><p> One-third of new investors who opened a taxable investment account for the first time in 2020 said they had account balances of less than $500, versus 16% of experienced investors. Twenty-three percent of new investors had account balances up to $2,000. Twenty percent of experienced investors had account balances up to $2,000.</p><p><blockquote>2020年首次开设应税投资账户的新投资者中有三分之一表示，他们的账户余额低于500美元，而经验丰富的投资者这一比例为16%。23%的新投资者的账户余额高达2,000美元。20%有经验的投资者的账户余额高达2,000美元。</blockquote></p><p></p><p> The survey found a more racially diverse set of new investors, with 17% of new investors being Black. Seven percent of experienced investors are Black, the poll said.</p><p><blockquote>调查发现，新投资者的种族更加多元化，17%的新投资者是黑人。调查显示，有经验的投资者中有7%是黑人。</blockquote></p><p> As the hearing continued, some lawmakers questioned whether more guardrails need to be in place, while others said lawmakers shouldn’t condescend to retail investors and assume they know best.</p><p><blockquote>随着听证会的继续，一些议员质疑是否需要设置更多护栏，而另一些议员则表示，议员不应该屈尊于散户投资者，并认为他们最了解。</blockquote></p><p> “Many Americans feel that the system is stacked against them and no matter what, Wall Street always wins,” said Rep. Maxine Waters, who chairs the House Financial Services Committee. “In this instance, many retail investors appeared motivated by a desire to beat Wall Street at its own game and given the losses that many retail investors have sustained as a result of volatility in the system, there are many whose beliefs that the system is rigged against them has been reinforced.”</p><p><blockquote>众议院金融服务委员会主席、众议员Maxine Waters说，“很多美国人觉得这个体系与他们形成了对抗，不管怎么样，华尔街总会赢。”“在这种情况下，许多散户投资者似乎是出于在华尔街自己的游戏中击败华尔街的愿望，考虑到许多散户投资者因系统波动而遭受的损失，许多人认为该系统是针对他们的操纵行为得到了加强。”</blockquote></p><p> The GameStop saga was a “fundamental change,” said Rep. Patrick McHenry, the ranking Republican on the committee. The swell in trading was propelled by social media and a wealth of new information at investors’ fingertips.</p><p><blockquote>该委员会资深共和党众议员Patrick McHenry表示，游戏驿站事件是一个“根本性的变化”。社交媒体和投资者唾手可得的大量新信息推动了交易的激增。</blockquote></p><p> “I think if we’ve learned anything from these past few weeks, it’s that these average everyday investors are pretty darn sophisticated,” McHenry said. “There is wisdom to the crowd.”</p><p><blockquote>麦克亨利说：“我认为，如果说我们从过去几周中学到了什么的话，那就是这些普通的日常投资者非常老练。”“群众有智慧。”</blockquote></p><p> The government needs to make it easier for everyday investors to buy into the market, he said. “Instead of shutting the American public out through new regulations, new forms of taxation or so-called protections, let’s use this opprotunity to side with them.”</p><p><blockquote>他说，政府需要让普通投资者更容易买入市场。“与其通过新法规、新形式的税收或所谓的保护措施将美国公众拒之门外，不如利用这个机会站在他们一边。”</blockquote></p><p> One of the witnesses was Keith Gill, a 34-year-old independent investor with online handles like “Roaring Kitty” who turned his GameStop investment into millions. He made all his investment decisions based on publicly-availabile information, he told Congress.</p><p><blockquote>目击者之一是基思·吉尔(Keith Gill)，他是一位34岁的独立投资者，拥有“咆哮的小猫”等在线账号，他将自己在游戏驿站的投资变成了数百万美元。他告诉国会，他所有的投资决策都是根据公开信息做出的。</blockquote></p><p> “I would be the first to acknowledge that investing in stocks and options is incredibly risky, and it’s so important for people to do their own thorough research before investing,” Gill said. “Folks should be able to freely express their views on a stock, and they should be able to buy or not buy a stock based on those views.”</p><p><blockquote>吉尔说：“我是第一个承认投资股票和期权风险极高的人，人们在投资前进行彻底的研究非常重要。”“人们应该能够自由表达他们对股票的看法，并且他们应该能够根据这些观点购买或不购买股票。”</blockquote></p><p> GameStop shares are up nearly 116% year-to-date. The Dow Jones Industrial Average&nbsp;is up nearly 3% and the S&amp;P 500&nbsp;is up more than 4% in 2021.</p><p><blockquote>游戏驿站股价今年迄今已上涨近116%。2021年，道琼斯工业平均指数上涨近3%，标普500上涨超过4%。</blockquote></p><p></p>","source":"market_watch","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>GameStop hearing challenges assumptions about rookie investors<blockquote>游戏驿站听证会挑战有关新手投资者的假设</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\">\nGameStop hearing challenges assumptions about rookie investors<blockquote>游戏驿站听证会挑战有关新手投资者的假设</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Marketwatch</strong><span class=\"h-time small\">2021-02-19 11:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressional hearing on GameStop’s rise and fall.</b>  YOLO? Maybe not quite so.</p><p><blockquote><b>Robinhood首席执行官Vlad Tenev在关于游戏驿站兴衰的国会听证会上讨论了平均账户规模和用户人口统计数据。</b>约洛？也许不完全是这样。</blockquote></p><p> During the GameStop trading frenzy, some observers worried many rookie retail investors banding together on sites like Reddit’s WallStreetBets would bet big — a so-called “YOLO trade” in the forum’sslang— andend up losing badly.</p><p><blockquote>在游戏驿站交易狂潮期间，一些观察人士担心，许多在Reddit的WallStreetBets等网站上聚集在一起的新手散户投资者会下大赌注——用论坛的俚语来说就是所谓的“YOLO交易”——最终输得很惨。</blockquote></p><p> No doubt, this wasa serious event that rocked the stock market, bringing it “dangerously close” to collapse, according to Thomas Peterffy, founder and chairman of Interactive Brokers Group.</p><p><blockquote>盈透证券集团创始人兼董事长托马斯·彼得菲表示，毫无疑问，这是一个震惊股市的严重事件，使其“危险地接近”崩溃。</blockquote></p><p> But at a closely-watched congressional hearing Thursday on the rise and fall of GameStop shares and other so-called “meme stocks,” statements by one of the key players in the trading firestorm revealed that young investors generally aren’t betting big to reap quick gains.</p><p><blockquote>但在周四举行的备受关注的关于游戏驿站股票和其他所谓“模因股票”涨跌的国会听证会上，交易风暴中的一位关键人物的声明显示，年轻投资者通常不会下大赌注以获得快速收益。</blockquote></p><p> “Contrary to some very misleading and highly uninformed reports, we see evidence that most of our customers are investing for the long term,” said Vlad Tenev, CEO of Robinhood, the popular trading platform that caughtmassive irefor temporarily restricting trades on GameStopGME,-11.43%,AMC EntertainmentAMC,-0.72%and several other companies. As the hearing continued, he repeated that point under lawmaker questions.</p><p><blockquote>Robinhood首席执行官弗拉德·特涅夫(Vlad Tenev)表示：“与一些极具误导性和高度不知情的报道相反，我们看到证据表明我们的大多数客户都在进行长期投资。”Robinhood是一个受欢迎的交易平台，因暂时限制GameStopGME的交易而引起了大规模关注，-11.43%，AMC EntertainmentAMC，-0.72%和其他几家公司。随着听证会的继续，他在议员的提问下重复了这一点。</blockquote></p><p> “What we see is generally not consistent with popular memes suggesting that most of our brokerage customers are unsophisticated day traders taking inordinate risks with large sums of money on complex financial products,”Tenev wrote in prepared testimony submitted ahead of the hearing,pushing back on the idea that his companyencouraged reckless tradingon a platform with 13 million users.</p><p><blockquote>特涅夫在听证会前提交的准备好的证词中写道：“我们所看到的通常与流行的模因不一致，这些模因表明我们的大多数经纪客户都是不成熟的日内交易者，在复杂的金融产品上投入大量资金承担了过度的风险。”他的公司鼓励在一个拥有1300万用户的平台上进行鲁莽交易的想法。</blockquote></p><p> Just 2% of Robinhood users qualified as “pattern day traders” who made four or more trades within five business days, he said. Thirteen percent traded basic options contracts, which can be higher risk, higher reward than straight-ahead buying or selling.</p><p><blockquote>他说，只有2%的Robinhood用户符合“模式日内交易者”的资格，他们在五个工作日内进行了四笔或更多交易。13%的人交易基本期权合约，这可能比直接买入或卖出风险更高，回报更高。</blockquote></p><p> In the face of some pointed questions, he also insisted Robinhood isn’t trying to turn the user experience into a game. “We know investing is serious and that’s why most of our customers are buy and hold,” he said.</p><p><blockquote>面对一些尖锐的问题，他还坚称Robinhood并没有试图将用户体验变成游戏。“我们知道投资是严肃的，这就是为什么我们的大多数客户都是买入并持有，”他说。</blockquote></p><p> (Before the GameStop saga, Massachusetts state regulators filed a complaint against Robinhood for allegedly making trading seem too fun until loses occur. The company previously said itdisputes the allegation.)</p><p><blockquote>（在游戏驿站事件发生之前，马萨诸塞州监管机构对Robinhood提起诉讼，指控其让交易看起来太有趣，直到发生损失。该公司此前表示对这一指控提出异议。）</blockquote></p><p> Tenev and lawmakershave sparredon what Robinhood should and shouldn’t have done during the GameStop saga. GameStop shares once traded at a high point of $483. By Thursday’s market close, GameStop shares were $40.69.</p><p><blockquote>特涅夫和立法者就罗宾汉在游戏驿站传奇中应该做什么和不应该做什么进行了争论。游戏驿站股价一度交易到483美元的高点。截至周四收盘，游戏驿站股价为40.69美元。</blockquote></p><p> But either way, Tenev’s testimony gave an interesting peek at who the newest retail investors are and how much money they are pouring into the market. After all, retail investors were already increasingly entering the stock market before the GameStop drama started.</p><p><blockquote>但不管怎样，特涅夫的证词让我们有趣地了解了谁是最新的散户投资者以及他们向市场投入了多少资金。毕竟，在游戏驿站大戏开始之前，散户投资者就已经越来越多地进入股市。</blockquote></p><p> Fifty-five percent of Americans directly own stock, according to aGallup surveylast year, while 32% of 18- to 29-year-olds said they owned stock.</p><p><blockquote>根据aGallup去年的调查，55%的美国人直接拥有股票，而18至29岁的人中有32%表示他们拥有股票。</blockquote></p><p> The median age of Robinhood investors is 31 and half of users say they are first-time investors. The median account size is about $240, according to Tenev’s statement, and the average account size is about $5,000.</p><p><blockquote>Robinhood投资者的平均年龄为31岁，一半的用户表示他们是首次投资者。根据Tenev的声明，账户规模中位数约为240美元，平均账户规模约为5,000美元。</blockquote></p><p> The fact that 13% of Robinhood users are trading options gives some advocates pause. Barbara Roper, director of investor protection at the Consumer Federation of America,saidthat “strikes us as a pretty high percentage when you consider the characteristics of Robinhood’s customer base (disproportionately young, first-time investors with small accounts).”</p><p><blockquote>13%的Robinhood用户正在交易期权，这一事实让一些倡导者犹豫了。美国消费者联合会投资者保护主任芭芭拉·罗珀(Barbara Roper)表示，“考虑到Robinhood客户群的特征（不成比例的年轻、账户较小的首次投资者），我们发现这一比例相当高。”</blockquote></p><p> Robinhood investors also tend to be a slightly more racially diverse crowd, according to Tenev’s testimony. Nine percent of users are Black, compared to 3% at other firms and 16% are Hispanic, versus 7% at other firms, according to Tenev’s statement.</p><p><blockquote>根据特涅夫的证词，Robinhood投资者的种族也往往更加多元化。根据Tenev的声明，9%的用户是黑人，而其他公司的这一比例为3%；16%是西班牙裔，而其他公司的这一比例为7%。</blockquote></p><p> “Retail investors making up this new surge are different,” testified Jennifer Schulp, the Cato Institute’s director of financial regulation studies.</p><p><blockquote>卡托研究所金融监管研究主任詹妮弗·舒尔普(Jennifer Schulp)表示：“构成这一新浪潮的散户投资者有所不同。”</blockquote></p><p> Retail investors are nicknamed as“dumb money”on Wall Street, Schulp said. “I think it’s insulting. I think the term needs to go out the window. I think the GameStop situation is proof the retail investors are revolutionizing the market …. I think the retail investors here are learning by doing, which is one of the best ways to learn.”</p><p><blockquote>舒尔普说，散户投资者在华尔街被戏称为“傻钱”。“我认为这是一种侮辱。我认为这个词需要被抛弃。我认为游戏驿站的情况证明散户投资者正在彻底改变市场……我认为这里的散户投资者正在边做边学，这是最好的学习方式之一。”</blockquote></p><p> She pointed to research from theFINRA Investor Education Foundationreleased earlier this month digging into the demographics and account balances of new retail investors.</p><p><blockquote>她指出，FINRA投资者教育基金会本月早些时候发布的研究深入研究了新散户投资者的人口统计数据和账户余额。</blockquote></p><p> One-third of new investors who opened a taxable investment account for the first time in 2020 said they had account balances of less than $500, versus 16% of experienced investors. Twenty-three percent of new investors had account balances up to $2,000. Twenty percent of experienced investors had account balances up to $2,000.</p><p><blockquote>2020年首次开设应税投资账户的新投资者中有三分之一表示，他们的账户余额低于500美元，而经验丰富的投资者这一比例为16%。23%的新投资者的账户余额高达2,000美元。20%有经验的投资者的账户余额高达2,000美元。</blockquote></p><p></p><p> The survey found a more racially diverse set of new investors, with 17% of new investors being Black. Seven percent of experienced investors are Black, the poll said.</p><p><blockquote>调查发现，新投资者的种族更加多元化，17%的新投资者是黑人。调查显示，有经验的投资者中有7%是黑人。</blockquote></p><p> As the hearing continued, some lawmakers questioned whether more guardrails need to be in place, while others said lawmakers shouldn’t condescend to retail investors and assume they know best.</p><p><blockquote>随着听证会的继续，一些议员质疑是否需要设置更多护栏，而另一些议员则表示，议员不应该屈尊于散户投资者，并认为他们最了解。</blockquote></p><p> “Many Americans feel that the system is stacked against them and no matter what, Wall Street always wins,” said Rep. Maxine Waters, who chairs the House Financial Services Committee. “In this instance, many retail investors appeared motivated by a desire to beat Wall Street at its own game and given the losses that many retail investors have sustained as a result of volatility in the system, there are many whose beliefs that the system is rigged against them has been reinforced.”</p><p><blockquote>众议院金融服务委员会主席、众议员Maxine Waters说，“很多美国人觉得这个体系与他们形成了对抗，不管怎么样，华尔街总会赢。”“在这种情况下，许多散户投资者似乎是出于在华尔街自己的游戏中击败华尔街的愿望，考虑到许多散户投资者因系统波动而遭受的损失，许多人认为该系统是针对他们的操纵行为得到了加强。”</blockquote></p><p> The GameStop saga was a “fundamental change,” said Rep. Patrick McHenry, the ranking Republican on the committee. The swell in trading was propelled by social media and a wealth of new information at investors’ fingertips.</p><p><blockquote>该委员会资深共和党众议员Patrick McHenry表示，游戏驿站事件是一个“根本性的变化”。社交媒体和投资者唾手可得的大量新信息推动了交易的激增。</blockquote></p><p> “I think if we’ve learned anything from these past few weeks, it’s that these average everyday investors are pretty darn sophisticated,” McHenry said. “There is wisdom to the crowd.”</p><p><blockquote>麦克亨利说：“我认为，如果说我们从过去几周中学到了什么的话，那就是这些普通的日常投资者非常老练。”“群众有智慧。”</blockquote></p><p> The government needs to make it easier for everyday investors to buy into the market, he said. “Instead of shutting the American public out through new regulations, new forms of taxation or so-called protections, let’s use this opprotunity to side with them.”</p><p><blockquote>他说，政府需要让普通投资者更容易买入市场。“与其通过新法规、新形式的税收或所谓的保护措施将美国公众拒之门外，不如利用这个机会站在他们一边。”</blockquote></p><p> One of the witnesses was Keith Gill, a 34-year-old independent investor with online handles like “Roaring Kitty” who turned his GameStop investment into millions. He made all his investment decisions based on publicly-availabile information, he told Congress.</p><p><blockquote>目击者之一是基思·吉尔(Keith Gill)，他是一位34岁的独立投资者，拥有“咆哮的小猫”等在线账号，他将自己在游戏驿站的投资变成了数百万美元。他告诉国会，他所有的投资决策都是根据公开信息做出的。</blockquote></p><p> “I would be the first to acknowledge that investing in stocks and options is incredibly risky, and it’s so important for people to do their own thorough research before investing,” Gill said. “Folks should be able to freely express their views on a stock, and they should be able to buy or not buy a stock based on those views.”</p><p><blockquote>吉尔说：“我是第一个承认投资股票和期权风险极高的人，人们在投资前进行彻底的研究非常重要。”“人们应该能够自由表达他们对股票的看法，并且他们应该能够根据这些观点购买或不购买股票。”</blockquote></p><p> GameStop shares are up nearly 116% year-to-date. The Dow Jones Industrial Average&nbsp;is up nearly 3% and the S&amp;P 500&nbsp;is up more than 4% in 2021.</p><p><blockquote>游戏驿站股价今年迄今已上涨近116%。2021年，道琼斯工业平均指数上涨近3%，标普500上涨超过4%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/gamestop-hearing-challenges-assumptions-about-rookie-investors-retail-investors-making-up-this-new-surge-are-different-11613680041?mod=home-page\">Marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/gamestop-hearing-challenges-assumptions-about-rookie-investors-retail-investors-making-up-this-new-surge-are-different-11613680041?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1103921295","content_text":"Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressional hearing on GameStop’s rise and fall.\n\nYOLO? Maybe not quite so.\nDuring the GameStop trading frenzy, some observers worried many rookie retail investors banding together on sites like Reddit’s WallStreetBets would bet big — a so-called “YOLO trade” in the forum’sslang— andend up losing badly.\nNo doubt, this wasa serious event that rocked the stock market, bringing it “dangerously close” to collapse, according to Thomas Peterffy, founder and chairman of Interactive Brokers Group.\nBut at a closely-watched congressional hearing Thursday on the rise and fall of GameStop shares and other so-called “meme stocks,” statements by one of the key players in the trading firestorm revealed that young investors generally aren’t betting big to reap quick gains.\n“Contrary to some very misleading and highly uninformed reports, we see evidence that most of our customers are investing for the long term,” said Vlad Tenev, CEO of Robinhood, the popular trading platform that caughtmassive irefor temporarily restricting trades on GameStopGME,-11.43%,AMC EntertainmentAMC,-0.72%and several other companies. As the hearing continued, he repeated that point under lawmaker questions.\n“What we see is generally not consistent with popular memes suggesting that most of our brokerage customers are unsophisticated day traders taking inordinate risks with large sums of money on complex financial products,”Tenev wrote in prepared testimony submitted ahead of the hearing,pushing back on the idea that his companyencouraged reckless tradingon a platform with 13 million users.\nJust 2% of Robinhood users qualified as “pattern day traders” who made four or more trades within five business days, he said. Thirteen percent traded basic options contracts, which can be higher risk, higher reward than straight-ahead buying or selling.\nIn the face of some pointed questions, he also insisted Robinhood isn’t trying to turn the user experience into a game. “We know investing is serious and that’s why most of our customers are buy and hold,” he said.\n(Before the GameStop saga, Massachusetts state regulators filed a complaint against Robinhood for allegedly making trading seem too fun until loses occur. The company previously said itdisputes the allegation.)\nTenev and lawmakershave sparredon what Robinhood should and shouldn’t have done during the GameStop saga. GameStop shares once traded at a high point of $483. By Thursday’s market close, GameStop shares were $40.69.\nBut either way, Tenev’s testimony gave an interesting peek at who the newest retail investors are and how much money they are pouring into the market. After all, retail investors were already increasingly entering the stock market before the GameStop drama started.\nFifty-five percent of Americans directly own stock, according to aGallup surveylast year, while 32% of 18- to 29-year-olds said they owned stock.\nThe median age of Robinhood investors is 31 and half of users say they are first-time investors. The median account size is about $240, according to Tenev’s statement, and the average account size is about $5,000.\nThe fact that 13% of Robinhood users are trading options gives some advocates pause. Barbara Roper, director of investor protection at the Consumer Federation of America,saidthat “strikes us as a pretty high percentage when you consider the characteristics of Robinhood’s customer base (disproportionately young, first-time investors with small accounts).”\nRobinhood investors also tend to be a slightly more racially diverse crowd, according to Tenev’s testimony. Nine percent of users are Black, compared to 3% at other firms and 16% are Hispanic, versus 7% at other firms, according to Tenev’s statement.\n“Retail investors making up this new surge are different,” testified Jennifer Schulp, the Cato Institute’s director of financial regulation studies.\nRetail investors are nicknamed as“dumb money”on Wall Street, Schulp said. “I think it’s insulting. I think the term needs to go out the window. I think the GameStop situation is proof the retail investors are revolutionizing the market …. I think the retail investors here are learning by doing, which is one of the best ways to learn.”\nShe pointed to research from theFINRA Investor Education Foundationreleased earlier this month digging into the demographics and account balances of new retail investors.\nOne-third of new investors who opened a taxable investment account for the first time in 2020 said they had account balances of less than $500, versus 16% of experienced investors. Twenty-three percent of new investors had account balances up to $2,000. Twenty percent of experienced investors had account balances up to $2,000.\nThe survey found a more racially diverse set of new investors, with 17% of new investors being Black. Seven percent of experienced investors are Black, the poll said.\nAs the hearing continued, some lawmakers questioned whether more guardrails need to be in place, while others said lawmakers shouldn’t condescend to retail investors and assume they know best.\n“Many Americans feel that the system is stacked against them and no matter what, Wall Street always wins,” said Rep. Maxine Waters, who chairs the House Financial Services Committee. “In this instance, many retail investors appeared motivated by a desire to beat Wall Street at its own game and given the losses that many retail investors have sustained as a result of volatility in the system, there are many whose beliefs that the system is rigged against them has been reinforced.”\nThe GameStop saga was a “fundamental change,” said Rep. Patrick McHenry, the ranking Republican on the committee. The swell in trading was propelled by social media and a wealth of new information at investors’ fingertips.\n“I think if we’ve learned anything from these past few weeks, it’s that these average everyday investors are pretty darn sophisticated,” McHenry said. “There is wisdom to the crowd.”\nThe government needs to make it easier for everyday investors to buy into the market, he said. “Instead of shutting the American public out through new regulations, new forms of taxation or so-called protections, let’s use this opprotunity to side with them.”\nOne of the witnesses was Keith Gill, a 34-year-old independent investor with online handles like “Roaring Kitty” who turned his GameStop investment into millions. He made all his investment decisions based on publicly-availabile information, he told Congress.\n“I would be the first to acknowledge that investing in stocks and options is incredibly risky, and it’s so important for people to do their own thorough research before investing,” Gill said. “Folks should be able to freely express their views on a stock, and they should be able to buy or not buy a stock based on those views.”\nGameStop shares are up nearly 116% year-to-date. The Dow Jones Industrial Average is up nearly 3% and the S&P 500 is up more than 4% in 2021.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":2864,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380372135,"gmtCreate":1612519414327,"gmtModify":1703763009404,"author":{"id":"3562240188467019","authorId":"3562240188467019","name":"koabi","avatar":"https://static.tigerbbs.com/fbb917db7d1d5438831ae45369d18840","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562240188467019","idStr":"3562240188467019"},"themes":[],"htmlText":"💎👐","listText":"💎👐","text":"💎👐","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/380372135","repostId":"1180970570","repostType":4,"repost":{"id":"1180970570","kind":"news","pubTimestamp":1612501989,"share":"https://www.laohu8.com/m/news/1180970570?lang=zh_CN&edition=full","pubTime":"2021-02-05 13:13","market":"us","language":"en","title":"The dark side of the GameStop bubble: Driving stock prices to the moon can hurt America<blockquote>游戏驿站泡沫的阴暗面：将股价推上月球会伤害美国</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180970570","media":"marketwatch","summary":"Shares of GameStop and other companies or assets that shot upin value in recent weeks are now droppi","content":"<p>Shares of GameStop&nbsp;and other companies or&nbsp;assets that shot upin value in recent weeks are now&nbsp;dropping&nbsp;like stones. While I feel sorry for the many investors who will likely lose a lot of money, the stocks’ return to Earth is actually a good thing — if you want to avoid financial meltdown to the long list of crises the U.S. is facing.</p><p><blockquote>游戏驿站和其他最近几周价值飙升的公司或资产的股价现在像石头一样下跌。虽然我为许多可能会损失很多钱的投资者感到难过，但如果你想避免金融崩溃成为美国面临的一长串危机，股票回归地球实际上是一件好事。</blockquote></p><p>The reason has to do with what financial markets are — and what they are not — as well as what happens when prices of stocks and other securities become untethered from the fundamental value of the assets they’re meant to represent.</p><p><blockquote>原因与金融市场是什么以及它们不是什么有关，以及当股票和其他证券的价格脱离它们所代表的资产的基本价值时会发生什么有关。</blockquote></p><p>As a finance professor who does&nbsp;research on how markets respond to new information, I believe it is important to maintain a close link between security prices and fundamentals. When that stops happening, a market collapse may be not far behind.</p><p><blockquote>作为一名研究市场如何对新信息做出反应的金融学教授，我认为保持证券价格和基本面之间的密切联系非常重要。当这种情况停止发生时，市场崩溃可能就在不远处。</blockquote></p><p>Capital markets aren’t casinos</p><p><blockquote>资本市场不是赌场</blockquote></p><p>Some have portrayed&nbsp;GameStopGME,-42.11%as a David vs. Goliath story. According to that narrative, the big guys on Wall Street have been getting rich gambling on the stock marketSPX,+1.09%for years. What’s the problem when the little guy gets a chance?</p><p><blockquote>有些人将GameStopGME(-42.11%)描绘成大卫与歌利亚的故事。根据这种说法，华尔街的大佬们多年来一直在股市SPX上赌博致富，+1.09%。小家伙一有机会有什么问题？</blockquote></p><p>The first thing to keep in mind is that markets aren’t a big casino,&nbsp;as some seem to believe. Their core purpose is to efficiently connect investors with companies and other organizations that will make the most productive use of their cash.</p><p><blockquote>首先要记住的是，市场并不像一些人认为的那样是一个大赌场。他们的核心目的是有效地将投资者与公司和其他组织联系起来，最有效地利用他们的现金。</blockquote></p><p>Accurate market prices, meant to reflect a company’s expected profits and overall risk level, provide an important signal to investors whether they should hand over their money and what they should get in return. Companies like AppleAAPL,+2.58%and AmazonAMZN,+0.56%simply would not exist as we know them today without&nbsp;access to capital markets.</p><p><blockquote>准确的市场价格旨在反映公司的预期利润和整体风险水平，为投资者提供了一个重要信号，即他们是否应该交出资金以及应该获得什么回报。如果没有资本市场，像AppleAAPL(+2.58%)和AmazonAMZN(+0.56%)这样的公司就不会像我们今天所知的那样存在。</blockquote></p><p>The more jaundiced view of markets focuses on episodes when&nbsp;markets seemingly go crazy&nbsp;and on the&nbsp;speculative gambling behavior of some traders, such as&nbsp;hedge funds. The GameStop saga feeds into this storyline.</p><p><blockquote>对市场更有偏见的看法集中在市场似乎变得疯狂的时候，以及一些交易者（如对冲基金）的投机赌博行为。游戏驿站传奇融入了这个故事情节。</blockquote></p><p>But GameStop also illustrates what happens when stock prices don’t reflect reality.</p><p><blockquote>但游戏驿站也说明了当股价不能反映现实时会发生什么。</blockquote></p><p>The GameStop bubble</p><p><blockquote>游戏驿站泡沫</blockquote></p><p>GameStop fundamentals&nbsp;are, to put it mildly, lackluster.</p><p><blockquote>委婉地说，游戏驿站的基本面黯淡无光。</blockquote></p><p>The company is a brick-and-mortar chain of video game stores. Most video game sales now&nbsp;take place as digital downloads. GameStop&nbsp;has been slow&nbsp;to adapt to this new reality. Its revenue peaked in&nbsp;2012 at US$9.55 billion&nbsp;and had dropped by a third&nbsp;as of 2019. It hasn’t earned a profit since 2017. Put simply, it is a money-losing company in a competitive and quickly changing industry.</p><p><blockquote>该公司是一家实体视频游戏连锁店。现在大多数视频游戏销售都是以数字下载的形式进行的。游戏驿站在适应这一新现实方面进展缓慢。其收入在2012年达到95.5亿美元的峰值，截至2019年下降了三分之一。自2017年以来，它就没有盈利过。简单来说，就是在竞争激烈、瞬息万变的行业中，它是一家亏损的公司。</blockquote></p><p>The recent speculative frenzy, however, increased the GameStop stock price&nbsp;from under $20 in early January to as high as $483&nbsp;in a little over two weeks,&nbsp;driven by retail investors on Reddit&nbsp;who coordinated their buying to harm hedge funds,&nbsp;costing the professionals billions of dollars.</p><p><blockquote>然而，最近的投机狂潮使游戏驿站股价在两周多一点的时间内从1月初的不到20美元上涨至483美元，这是由Reddit上的散户投资者推动的，他们协调购买以损害对冲基金，使专业人士损失了数十亿美元。</blockquote></p><p>It is&nbsp;clearly a speculative price bubble&nbsp;and has some characteristics of a Ponzi scheme. Many small investors who “get on the train” late and buy at the inflated prices — especially&nbsp;those attracted by the extreme price moves&nbsp;and media coverage — will be left holding the bag.</p><p><blockquote>这显然是一个投机性的价格泡沫，具有庞氏骗局的一些特征。许多晚“上车”并以虚高的价格买入的小投资者——尤其是那些被极端价格走势和媒体报道吸引的小投资者——将背黑锅。</blockquote></p><p>And sooner or later, the stock price will likely come back to Earth to a level that can be supported by the fundamentals of the company. Before midday on Feb. 4, shares&nbsp;were trading near $70for the first time since Jan. 25.</p><p><blockquote>股价迟早会回到能够得到公司基本面支撑的水平。2月4日中午之前，股价自1月25日以来首次接近70美元。</blockquote></p><p>The problems begin when that doesn’t happen until too late.</p><p><blockquote>当为时已晚时，问题就开始了。</blockquote></p><p>Bubbles are made to pop</p><p><blockquote>泡泡被制造出来</blockquote></p><p>Financial markets are made up of people. People are imperfect, and so are markets. This means market prices are not always “right” — and it’s often hard to know what the “right” price is.</p><p><blockquote>金融市场是由人组成的。人是不完美的，市场也是。这意味着市场价格并不总是“正确”的——而且通常很难知道什么是“正确”的价格。</blockquote></p><p>That is true when it comes to the price bubbles in individual stocks like GameStop. But it’s also true on a much bigger scale, when it comes to a market as a whole.</p><p><blockquote>当涉及到游戏驿站等个股的价格泡沫时，情况确实如此。但当涉及到整个市场时，在更大的范围内也是如此。</blockquote></p><p>Price bubbles and crashes are good for neither Wall Street nor Main Street. When the dot-com bubble popped in 2000 —&nbsp;after prices of dozens of tech stocks soared exponentially in the late 1990s&nbsp;— an&nbsp;economic recession&nbsp;followed soon after. The bursting of a&nbsp;housing bubble in 2008&nbsp;triggered a global financial crisis and the Great Recession.</p><p><blockquote>价格泡沫和崩盘对华尔街和大街都没有好处。当2000年互联网泡沫破裂时——在20世纪90年代末数十只科技股的价格呈指数级飙升——经济衰退随之而来。2008年房地产泡沫的破裂引发了全球金融危机和大衰退。</blockquote></p><p>Too much momentum</p><p><blockquote>动力太大</blockquote></p><p>So markets fail sometimes, and we need sensible regulation and enforcement to make such failures less likely.</p><p><blockquote>因此，市场有时会失灵，我们需要明智的监管和执法来减少这种失灵的可能性。</blockquote></p><p>Taken in isolation, the GameStop craze is unlikely to trigger a disruption to the overall stock market, especially if its price continues to fall more in line with the company’s fundamental value. Unfortunately, this was not an isolated case. Nor was GameStop the first sign of problems.</p><p><blockquote>孤立地看，游戏驿站热潮不太可能引发整体股市的混乱，特别是如果其价格继续下跌，更符合公司的基本价值。不幸的是，这不是一个孤立的案例。游戏驿站也不是问题的第一个迹象。</blockquote></p><p>In recent days, Reddit users have also driven up the&nbsp;prices of silverSI00,0.61%&nbsp;and&nbsp;companies&nbsp;such as BlackBerryBB,+1.25%and movie theater giant AMC EntertainmentAMC,-20.96%.Popular trading apps like Robinhood&nbsp;have made trading easy, fun&nbsp;and basically free.</p><p><blockquote>最近几天，Reddit用户还推高了silverSI00(0.61%)以及BlackBerryBB(+1.25%)和电影院巨头AMC EntertainmentAMC(-20.96%)等公司的价格。Robinhood等流行的交易应用程序使交易变得轻松、有趣且基本上免费。</blockquote></p><p></p><p>The share price of TeslaTSLA,-0.55%,for example,&nbsp;skyrocketed 720% last year, in large part when investors bought the stock because it was already rising. This is called&nbsp;momentum investing, a trading strategy in which investors buy securities because they are going up — selling them only when they think the price has peaked.</p><p><blockquote>例如，特斯拉TSLA(-0.55%)的股价去年飙升了720%，很大程度上是因为投资者买入该股是因为该股已经在上涨。这被称为动量投资，这是一种交易策略，投资者购买证券是因为他们正在上涨，只有当他们认为价格已经见顶时才出售。</blockquote></p><p>If this continues, it will likely lead to more financial bubbles and crashes that could make it harder for companies to raise capital, posing a threat to the&nbsp;already limping U.S. economic recovery. Even if the worst doesn’t happen, large price movements and allegations of price manipulation&nbsp;could hurt public confidence&nbsp;in financial markets, which would make people more reluctant to invest in retirement and other programs.</p><p><blockquote>如果这种情况持续下去，可能会导致更多的金融泡沫和崩溃，使企业更难筹集资金，对本已步履蹒跚的美国经济复苏构成威胁。即使最坏的情况没有发生，价格大幅波动和价格操纵指控也可能损害公众对金融市场的信心，这将使人们更不愿意投资于退休和其他项目。</blockquote></p><p>Warren Buffett&nbsp;once said&nbsp;about stock market behavior: “The light can at any time go from green to red without pausing at yellow.”</p><p><blockquote>沃伦·巴菲特曾经谈到股市行为时说过：“灯可以随时从绿色变成红色，而不会在黄色时暂停。”</blockquote></p><p>What he meant was that markets can turn on a dime and plunge. He saw these moments as opportunities to find deals in the market, but for most people they result in panic, heavy losses and economic consequences like mass unemployment — as we saw in 1929, 2000 and 2008.</p><p><blockquote>他的意思是，市场可能会突然转向并暴跌。他认为这些时刻是在市场上寻找交易的机会，但对大多数人来说，它们会导致恐慌、重大损失和大规模失业等经济后果——就像我们在1929年、2000年和2008年看到的那样。</blockquote></p><p>There’s no particular reason it won’t happen again.</p><p><blockquote>没有什么特别的理由不会再发生。</blockquote></p><p><i>Alexander Kurov is a professor of finance and holds the Fred T. Tattersall Research Chair in Finance at West Virginia University In Morgantown. This was first published byThe Conversation— “Wall Street isn’t just a casino where traders can bet on GameStop and other stocks – it’s essential to keeping capitalism from&nbsp;crashing“.</i></p><p><blockquote><i>亚历山大·库罗夫是摩根敦西弗吉尼亚大学金融学教授，并担任弗雷德·T·塔特索尔金融学研究主席。这篇文章最初由The Conversation发表——“华尔街不仅仅是交易者可以押注游戏驿站和其他股票的赌场——它对于防止资本主义崩溃至关重要”。</i></blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The dark side of the GameStop bubble: Driving stock prices to the moon can hurt America<blockquote>游戏驿站泡沫的阴暗面：将股价推上月球会伤害美国</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe dark side of the GameStop bubble: Driving stock prices to the moon can hurt America<blockquote>游戏驿站泡沫的阴暗面：将股价推上月球会伤害美国</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-02-05 13:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Shares of GameStop&nbsp;and other companies or&nbsp;assets that shot upin value in recent weeks are now&nbsp;dropping&nbsp;like stones. While I feel sorry for the many investors who will likely lose a lot of money, the stocks’ return to Earth is actually a good thing — if you want to avoid financial meltdown to the long list of crises the U.S. is facing.</p><p><blockquote>游戏驿站和其他最近几周价值飙升的公司或资产的股价现在像石头一样下跌。虽然我为许多可能会损失很多钱的投资者感到难过，但如果你想避免金融崩溃成为美国面临的一长串危机，股票回归地球实际上是一件好事。</blockquote></p><p>The reason has to do with what financial markets are — and what they are not — as well as what happens when prices of stocks and other securities become untethered from the fundamental value of the assets they’re meant to represent.</p><p><blockquote>原因与金融市场是什么以及它们不是什么有关，以及当股票和其他证券的价格脱离它们所代表的资产的基本价值时会发生什么有关。</blockquote></p><p>As a finance professor who does&nbsp;research on how markets respond to new information, I believe it is important to maintain a close link between security prices and fundamentals. When that stops happening, a market collapse may be not far behind.</p><p><blockquote>作为一名研究市场如何对新信息做出反应的金融学教授，我认为保持证券价格和基本面之间的密切联系非常重要。当这种情况停止发生时，市场崩溃可能就在不远处。</blockquote></p><p>Capital markets aren’t casinos</p><p><blockquote>资本市场不是赌场</blockquote></p><p>Some have portrayed&nbsp;GameStopGME,-42.11%as a David vs. Goliath story. According to that narrative, the big guys on Wall Street have been getting rich gambling on the stock marketSPX,+1.09%for years. What’s the problem when the little guy gets a chance?</p><p><blockquote>有些人将GameStopGME(-42.11%)描绘成大卫与歌利亚的故事。根据这种说法，华尔街的大佬们多年来一直在股市SPX上赌博致富，+1.09%。小家伙一有机会有什么问题？</blockquote></p><p>The first thing to keep in mind is that markets aren’t a big casino,&nbsp;as some seem to believe. Their core purpose is to efficiently connect investors with companies and other organizations that will make the most productive use of their cash.</p><p><blockquote>首先要记住的是，市场并不像一些人认为的那样是一个大赌场。他们的核心目的是有效地将投资者与公司和其他组织联系起来，最有效地利用他们的现金。</blockquote></p><p>Accurate market prices, meant to reflect a company’s expected profits and overall risk level, provide an important signal to investors whether they should hand over their money and what they should get in return. Companies like AppleAAPL,+2.58%and AmazonAMZN,+0.56%simply would not exist as we know them today without&nbsp;access to capital markets.</p><p><blockquote>准确的市场价格旨在反映公司的预期利润和整体风险水平，为投资者提供了一个重要信号，即他们是否应该交出资金以及应该获得什么回报。如果没有资本市场，像AppleAAPL(+2.58%)和AmazonAMZN(+0.56%)这样的公司就不会像我们今天所知的那样存在。</blockquote></p><p>The more jaundiced view of markets focuses on episodes when&nbsp;markets seemingly go crazy&nbsp;and on the&nbsp;speculative gambling behavior of some traders, such as&nbsp;hedge funds. The GameStop saga feeds into this storyline.</p><p><blockquote>对市场更有偏见的看法集中在市场似乎变得疯狂的时候，以及一些交易者（如对冲基金）的投机赌博行为。游戏驿站传奇融入了这个故事情节。</blockquote></p><p>But GameStop also illustrates what happens when stock prices don’t reflect reality.</p><p><blockquote>但游戏驿站也说明了当股价不能反映现实时会发生什么。</blockquote></p><p>The GameStop bubble</p><p><blockquote>游戏驿站泡沫</blockquote></p><p>GameStop fundamentals&nbsp;are, to put it mildly, lackluster.</p><p><blockquote>委婉地说，游戏驿站的基本面黯淡无光。</blockquote></p><p>The company is a brick-and-mortar chain of video game stores. Most video game sales now&nbsp;take place as digital downloads. GameStop&nbsp;has been slow&nbsp;to adapt to this new reality. Its revenue peaked in&nbsp;2012 at US$9.55 billion&nbsp;and had dropped by a third&nbsp;as of 2019. It hasn’t earned a profit since 2017. Put simply, it is a money-losing company in a competitive and quickly changing industry.</p><p><blockquote>该公司是一家实体视频游戏连锁店。现在大多数视频游戏销售都是以数字下载的形式进行的。游戏驿站在适应这一新现实方面进展缓慢。其收入在2012年达到95.5亿美元的峰值，截至2019年下降了三分之一。自2017年以来，它就没有盈利过。简单来说，就是在竞争激烈、瞬息万变的行业中，它是一家亏损的公司。</blockquote></p><p>The recent speculative frenzy, however, increased the GameStop stock price&nbsp;from under $20 in early January to as high as $483&nbsp;in a little over two weeks,&nbsp;driven by retail investors on Reddit&nbsp;who coordinated their buying to harm hedge funds,&nbsp;costing the professionals billions of dollars.</p><p><blockquote>然而，最近的投机狂潮使游戏驿站股价在两周多一点的时间内从1月初的不到20美元上涨至483美元，这是由Reddit上的散户投资者推动的，他们协调购买以损害对冲基金，使专业人士损失了数十亿美元。</blockquote></p><p>It is&nbsp;clearly a speculative price bubble&nbsp;and has some characteristics of a Ponzi scheme. Many small investors who “get on the train” late and buy at the inflated prices — especially&nbsp;those attracted by the extreme price moves&nbsp;and media coverage — will be left holding the bag.</p><p><blockquote>这显然是一个投机性的价格泡沫，具有庞氏骗局的一些特征。许多晚“上车”并以虚高的价格买入的小投资者——尤其是那些被极端价格走势和媒体报道吸引的小投资者——将背黑锅。</blockquote></p><p>And sooner or later, the stock price will likely come back to Earth to a level that can be supported by the fundamentals of the company. Before midday on Feb. 4, shares&nbsp;were trading near $70for the first time since Jan. 25.</p><p><blockquote>股价迟早会回到能够得到公司基本面支撑的水平。2月4日中午之前，股价自1月25日以来首次接近70美元。</blockquote></p><p>The problems begin when that doesn’t happen until too late.</p><p><blockquote>当为时已晚时，问题就开始了。</blockquote></p><p>Bubbles are made to pop</p><p><blockquote>泡泡被制造出来</blockquote></p><p>Financial markets are made up of people. People are imperfect, and so are markets. This means market prices are not always “right” — and it’s often hard to know what the “right” price is.</p><p><blockquote>金融市场是由人组成的。人是不完美的，市场也是。这意味着市场价格并不总是“正确”的——而且通常很难知道什么是“正确”的价格。</blockquote></p><p>That is true when it comes to the price bubbles in individual stocks like GameStop. But it’s also true on a much bigger scale, when it comes to a market as a whole.</p><p><blockquote>当涉及到游戏驿站等个股的价格泡沫时，情况确实如此。但当涉及到整个市场时，在更大的范围内也是如此。</blockquote></p><p>Price bubbles and crashes are good for neither Wall Street nor Main Street. When the dot-com bubble popped in 2000 —&nbsp;after prices of dozens of tech stocks soared exponentially in the late 1990s&nbsp;— an&nbsp;economic recession&nbsp;followed soon after. The bursting of a&nbsp;housing bubble in 2008&nbsp;triggered a global financial crisis and the Great Recession.</p><p><blockquote>价格泡沫和崩盘对华尔街和大街都没有好处。当2000年互联网泡沫破裂时——在20世纪90年代末数十只科技股的价格呈指数级飙升——经济衰退随之而来。2008年房地产泡沫的破裂引发了全球金融危机和大衰退。</blockquote></p><p>Too much momentum</p><p><blockquote>动力太大</blockquote></p><p>So markets fail sometimes, and we need sensible regulation and enforcement to make such failures less likely.</p><p><blockquote>因此，市场有时会失灵，我们需要明智的监管和执法来减少这种失灵的可能性。</blockquote></p><p>Taken in isolation, the GameStop craze is unlikely to trigger a disruption to the overall stock market, especially if its price continues to fall more in line with the company’s fundamental value. Unfortunately, this was not an isolated case. Nor was GameStop the first sign of problems.</p><p><blockquote>孤立地看，游戏驿站热潮不太可能引发整体股市的混乱，特别是如果其价格继续下跌，更符合公司的基本价值。不幸的是，这不是一个孤立的案例。游戏驿站也不是问题的第一个迹象。</blockquote></p><p>In recent days, Reddit users have also driven up the&nbsp;prices of silverSI00,0.61%&nbsp;and&nbsp;companies&nbsp;such as BlackBerryBB,+1.25%and movie theater giant AMC EntertainmentAMC,-20.96%.Popular trading apps like Robinhood&nbsp;have made trading easy, fun&nbsp;and basically free.</p><p><blockquote>最近几天，Reddit用户还推高了silverSI00(0.61%)以及BlackBerryBB(+1.25%)和电影院巨头AMC EntertainmentAMC(-20.96%)等公司的价格。Robinhood等流行的交易应用程序使交易变得轻松、有趣且基本上免费。</blockquote></p><p></p><p>The share price of TeslaTSLA,-0.55%,for example,&nbsp;skyrocketed 720% last year, in large part when investors bought the stock because it was already rising. This is called&nbsp;momentum investing, a trading strategy in which investors buy securities because they are going up — selling them only when they think the price has peaked.</p><p><blockquote>例如，特斯拉TSLA(-0.55%)的股价去年飙升了720%，很大程度上是因为投资者买入该股是因为该股已经在上涨。这被称为动量投资，这是一种交易策略，投资者购买证券是因为他们正在上涨，只有当他们认为价格已经见顶时才出售。</blockquote></p><p>If this continues, it will likely lead to more financial bubbles and crashes that could make it harder for companies to raise capital, posing a threat to the&nbsp;already limping U.S. economic recovery. Even if the worst doesn’t happen, large price movements and allegations of price manipulation&nbsp;could hurt public confidence&nbsp;in financial markets, which would make people more reluctant to invest in retirement and other programs.</p><p><blockquote>如果这种情况持续下去，可能会导致更多的金融泡沫和崩溃，使企业更难筹集资金，对本已步履蹒跚的美国经济复苏构成威胁。即使最坏的情况没有发生，价格大幅波动和价格操纵指控也可能损害公众对金融市场的信心，这将使人们更不愿意投资于退休和其他项目。</blockquote></p><p>Warren Buffett&nbsp;once said&nbsp;about stock market behavior: “The light can at any time go from green to red without pausing at yellow.”</p><p><blockquote>沃伦·巴菲特曾经谈到股市行为时说过：“灯可以随时从绿色变成红色，而不会在黄色时暂停。”</blockquote></p><p>What he meant was that markets can turn on a dime and plunge. He saw these moments as opportunities to find deals in the market, but for most people they result in panic, heavy losses and economic consequences like mass unemployment — as we saw in 1929, 2000 and 2008.</p><p><blockquote>他的意思是，市场可能会突然转向并暴跌。他认为这些时刻是在市场上寻找交易的机会，但对大多数人来说，它们会导致恐慌、重大损失和大规模失业等经济后果——就像我们在1929年、2000年和2008年看到的那样。</blockquote></p><p>There’s no particular reason it won’t happen again.</p><p><blockquote>没有什么特别的理由不会再发生。</blockquote></p><p><i>Alexander Kurov is a professor of finance and holds the Fred T. Tattersall Research Chair in Finance at West Virginia University In Morgantown. This was first published byThe Conversation— “Wall Street isn’t just a casino where traders can bet on GameStop and other stocks – it’s essential to keeping capitalism from&nbsp;crashing“.</i></p><p><blockquote><i>亚历山大·库罗夫是摩根敦西弗吉尼亚大学金融学教授，并担任弗雷德·T·塔特索尔金融学研究主席。这篇文章最初由The Conversation发表——“华尔街不仅仅是交易者可以押注游戏驿站和其他股票的赌场——它对于防止资本主义崩溃至关重要”。</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-dark-side-of-the-gamestop-bubble-driving-stock-prices-to-the-moon-can-hurt-america-11612457839?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b72bab52a7d49e9d26088350ab4826c1","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/the-dark-side-of-the-gamestop-bubble-driving-stock-prices-to-the-moon-can-hurt-america-11612457839?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180970570","content_text":"Shares of GameStop and other companies or assets that shot upin value in recent weeks are now dropping like stones. While I feel sorry for the many investors who will likely lose a lot of money, the stocks’ return to Earth is actually a good thing — if you want to avoid financial meltdown to the long list of crises the U.S. is facing.The reason has to do with what financial markets are — and what they are not — as well as what happens when prices of stocks and other securities become untethered from the fundamental value of the assets they’re meant to represent.As a finance professor who does research on how markets respond to new information, I believe it is important to maintain a close link between security prices and fundamentals. When that stops happening, a market collapse may be not far behind.Capital markets aren’t casinosSome have portrayed GameStopGME,-42.11%as a David vs. Goliath story. According to that narrative, the big guys on Wall Street have been getting rich gambling on the stock marketSPX,+1.09%for years. What’s the problem when the little guy gets a chance?The first thing to keep in mind is that markets aren’t a big casino, as some seem to believe. Their core purpose is to efficiently connect investors with companies and other organizations that will make the most productive use of their cash.Accurate market prices, meant to reflect a company’s expected profits and overall risk level, provide an important signal to investors whether they should hand over their money and what they should get in return. Companies like AppleAAPL,+2.58%and AmazonAMZN,+0.56%simply would not exist as we know them today without access to capital markets.The more jaundiced view of markets focuses on episodes when markets seemingly go crazy and on the speculative gambling behavior of some traders, such as hedge funds. The GameStop saga feeds into this storyline.But GameStop also illustrates what happens when stock prices don’t reflect reality.The GameStop bubbleGameStop fundamentals are, to put it mildly, lackluster.The company is a brick-and-mortar chain of video game stores. Most video game sales now take place as digital downloads. GameStop has been slow to adapt to this new reality. Its revenue peaked in 2012 at US$9.55 billion and had dropped by a third as of 2019. It hasn’t earned a profit since 2017. Put simply, it is a money-losing company in a competitive and quickly changing industry.The recent speculative frenzy, however, increased the GameStop stock price from under $20 in early January to as high as $483 in a little over two weeks, driven by retail investors on Reddit who coordinated their buying to harm hedge funds, costing the professionals billions of dollars.It is clearly a speculative price bubble and has some characteristics of a Ponzi scheme. Many small investors who “get on the train” late and buy at the inflated prices — especially those attracted by the extreme price moves and media coverage — will be left holding the bag.And sooner or later, the stock price will likely come back to Earth to a level that can be supported by the fundamentals of the company. Before midday on Feb. 4, shares were trading near $70for the first time since Jan. 25.The problems begin when that doesn’t happen until too late.Bubbles are made to popFinancial markets are made up of people. People are imperfect, and so are markets. This means market prices are not always “right” — and it’s often hard to know what the “right” price is.That is true when it comes to the price bubbles in individual stocks like GameStop. But it’s also true on a much bigger scale, when it comes to a market as a whole.Price bubbles and crashes are good for neither Wall Street nor Main Street. When the dot-com bubble popped in 2000 — after prices of dozens of tech stocks soared exponentially in the late 1990s — an economic recession followed soon after. The bursting of a housing bubble in 2008 triggered a global financial crisis and the Great Recession.Too much momentumSo markets fail sometimes, and we need sensible regulation and enforcement to make such failures less likely.Taken in isolation, the GameStop craze is unlikely to trigger a disruption to the overall stock market, especially if its price continues to fall more in line with the company’s fundamental value. Unfortunately, this was not an isolated case. Nor was GameStop the first sign of problems.In recent days, Reddit users have also driven up the prices of silverSI00,0.61% and companies such as BlackBerryBB,+1.25%and movie theater giant AMC EntertainmentAMC,-20.96%.Popular trading apps like Robinhood have made trading easy, fun and basically free.The share price of TeslaTSLA,-0.55%,for example, skyrocketed 720% last year, in large part when investors bought the stock because it was already rising. This is called momentum investing, a trading strategy in which investors buy securities because they are going up — selling them only when they think the price has peaked.If this continues, it will likely lead to more financial bubbles and crashes that could make it harder for companies to raise capital, posing a threat to the already limping U.S. economic recovery. Even if the worst doesn’t happen, large price movements and allegations of price manipulation could hurt public confidence in financial markets, which would make people more reluctant to invest in retirement and other programs.Warren Buffett once said about stock market behavior: “The light can at any time go from green to red without pausing at yellow.”What he meant was that markets can turn on a dime and plunge. He saw these moments as opportunities to find deals in the market, but for most people they result in panic, heavy losses and economic consequences like mass unemployment — as we saw in 1929, 2000 and 2008.There’s no particular reason it won’t happen again.Alexander Kurov is a professor of finance and holds the Fred T. Tattersall Research Chair in Finance at West Virginia University In Morgantown. This was first published byThe Conversation— “Wall Street isn’t just a casino where traders can bet on GameStop and other stocks – it’s essential to keeping capitalism from crashing“.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":2867,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314911275,"gmtCreate":1612284416197,"gmtModify":1703760022757,"author":{"id":"3562240188467019","authorId":"3562240188467019","name":"koabi","avatar":"https://static.tigerbbs.com/fbb917db7d1d5438831ae45369d18840","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3562240188467019","idStr":"3562240188467019"},"themes":[],"htmlText":"Diamonds hands 👐💎","listText":"Diamonds hands 👐💎","text":"Diamonds hands 👐💎","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/314911275","repostId":"2108789545","repostType":2,"repost":{"id":"2108789545","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1612254026,"share":"https://www.laohu8.com/m/news/2108789545?lang=zh_CN&edition=full","pubTime":"2021-02-02 16:20","market":"us","language":"en","title":"Five things to watch in Reddit stocks trading mania<blockquote>Reddit股票交易狂热中值得关注的五件事</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2108789545","media":"Reuters","summary":"Feb 2 (Reuters) - Silver dropped more than 4% on Tuesday and GameStop Corp     sank 33% in early Eur","content":"<p><html><body>Feb 2 (Reuters) - Silver dropped more than 4% on Tuesday and GameStop Corp     sank 33% in early European deals, raising questions about how long a social media-fueled trading frenzy in stocks and other assets would last.</p><p><blockquote><html><body>路透2月2日-周二白银下跌超过4%，游戏驿站公司在欧洲早盘交易中下跌33%，引发了人们对社交媒体引发的股票和其他资产交易狂潮将持续多久的质疑。</body></html></blockquote></p><p>   The populist trading rally, organized in online forums such as Reddit's WallStreetBets, has helped attract a flood of retail cash into stocks such as GameStop, burned hedge funds that had bet against the stocks and roiled broader markets.</p><p><blockquote>在Reddit的WallStreetBets等在线论坛上组织的民粹主义交易集会，帮助吸引了大量散户现金流入游戏驿站等股票，烧毁了做空这些股票的对冲基金，并扰乱了更广泛的市场。</blockquote></p><p>   Here are five things to watch on Tuesday:</p><p><blockquote>以下是周二值得关注的五件事：</blockquote></p><p>    ** SILVER MARGINS - The rally in silver halted overnight with prices slipping back below $30 after CME Group    raised Comex 5000 Silver Futures maintenance margins by 17.9%. Frankfurt-listed shares of GameStop   , the trigger for the slugfest between amateur investors and Wall Street hedge funds last week, also plunged 37% at the open following a 19% slide on Monday.  </p><p><blockquote>**白银保证金——在芝商所将Comex 5000白银期货维持保证金提高17.9%后，白银的涨势在隔夜停止，价格回落至30美元以下。上周引发业余投资者与华尔街对冲基金争斗的游戏驿站股价继周一下跌19%后，开盘也暴跌37%。</blockquote></p><p>        ** BROKER CAPITAL - Robinhood, the easy access brokerage app which has fueled the trades, raised another $2.4 billion in funding on top of the $1 billion it raised last week after its finances were strained by the retail trading frenzy, but will that be enough?  </p><p><blockquote>**经纪人资本——Robinhood是一款推动交易的便捷经纪应用程序，在上周因零售交易狂潮而财务紧张后，在上周筹集了10亿美元资金的基础上，又筹集了24亿美元资金，但这会吗？足够了吗？</blockquote></p><p>    ** SHORT OF SHORTS - The number of GameStop shares that were shorted fell by more than half last week as short sellers scrambled to cover their bets due to soaring valuations of stocks they had bet would fall. Still, GameStop short interest stood at $8.82 billion as of Friday, making it the sixth-biggest short by value, according to S3.  </p><p><blockquote>**空头短缺——上周被做空的游戏驿站股票数量下降了一半以上，因为他们押注的股票估值飙升，卖空者争先恐后地回补押注。尽管如此，根据S3的数据，截至周五，游戏驿站的空头利息仍为88.2亿美元，使其成为价值第六大空头。</blockquote></p><p>    ** REDDIT FORUMS - WallStreetBets saw a surge in posts on Monday arguing that the bets on silver were undercutting their focus on GameStop and other popular stocks. Swings in the forum's almost 8 million participants may decide where the pack move next.  ** BROADER MARKETS BOUNCE - The S&amp;P 500, hit by the fallout of the battle last week, registered its biggest daily percentage gain since November on Monday. Still, the U.S. stock market which some analysts argue already looks overvalued after a stimulus-powered rally last year, was at risk of falling further if the short squeeze persists.   </p><p><blockquote>**REDDIT论坛—WallStreetBets周一的帖子激增，认为对白银的押注削弱了他们对游戏驿站和其他热门股票的关注。论坛近800万参与者的波动可能会决定群体下一步的走向。**大盘反弹——受到上周战斗影响的标普500周一录得自11月以来最大单日百分比涨幅。尽管如此，一些分析师认为，在去年刺激措施推动的反弹之后，美国股市看起来已经被高估，如果轧空持续下去，美国股市将面临进一步下跌的风险。</blockquote></p><p> (Writing by Sagarika Jaisinghani in Bengaluru; Editing by Bernard Orr)</p><p><blockquote>（Sagarika Jaisinghani在班加罗尔撰写；Bernard Orr编辑）</blockquote></p><p>((Sagarika.Jaisinghani@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256))</p><p><blockquote>（（Sagarika.Jaisinghani@thomsonreuters.com；美国境内+1 646 223 878 0；美国境外+91 80 618 2 225 6））</blockquote></p><p></body></html></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>Five things to watch in Reddit stocks trading mania<blockquote>Reddit股票交易狂热中值得关注的五件事</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\">\nFive things to watch in Reddit stocks trading mania<blockquote>Reddit股票交易狂热中值得关注的五件事</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2021-02-02 16:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><body>Feb 2 (Reuters) - Silver dropped more than 4% on Tuesday and GameStop Corp     sank 33% in early European deals, raising questions about how long a social media-fueled trading frenzy in stocks and other assets would last.</p><p><blockquote><html><body>路透2月2日-周二白银下跌超过4%，游戏驿站公司在欧洲早盘交易中下跌33%，引发了人们对社交媒体引发的股票和其他资产交易狂潮将持续多久的质疑。</body></html></blockquote></p><p>   The populist trading rally, organized in online forums such as Reddit's WallStreetBets, has helped attract a flood of retail cash into stocks such as GameStop, burned hedge funds that had bet against the stocks and roiled broader markets.</p><p><blockquote>在Reddit的WallStreetBets等在线论坛上组织的民粹主义交易集会，帮助吸引了大量散户现金流入游戏驿站等股票，烧毁了做空这些股票的对冲基金，并扰乱了更广泛的市场。</blockquote></p><p>   Here are five things to watch on Tuesday:</p><p><blockquote>以下是周二值得关注的五件事：</blockquote></p><p>    ** SILVER MARGINS - The rally in silver halted overnight with prices slipping back below $30 after CME Group    raised Comex 5000 Silver Futures maintenance margins by 17.9%. Frankfurt-listed shares of GameStop   , the trigger for the slugfest between amateur investors and Wall Street hedge funds last week, also plunged 37% at the open following a 19% slide on Monday.  </p><p><blockquote>**白银保证金——在芝商所将Comex 5000白银期货维持保证金提高17.9%后，白银的涨势在隔夜停止，价格回落至30美元以下。上周引发业余投资者与华尔街对冲基金争斗的游戏驿站股价继周一下跌19%后，开盘也暴跌37%。</blockquote></p><p>        ** BROKER CAPITAL - Robinhood, the easy access brokerage app which has fueled the trades, raised another $2.4 billion in funding on top of the $1 billion it raised last week after its finances were strained by the retail trading frenzy, but will that be enough?  </p><p><blockquote>**经纪人资本——Robinhood是一款推动交易的便捷经纪应用程序，在上周因零售交易狂潮而财务紧张后，在上周筹集了10亿美元资金的基础上，又筹集了24亿美元资金，但这会吗？足够了吗？</blockquote></p><p>    ** SHORT OF SHORTS - The number of GameStop shares that were shorted fell by more than half last week as short sellers scrambled to cover their bets due to soaring valuations of stocks they had bet would fall. Still, GameStop short interest stood at $8.82 billion as of Friday, making it the sixth-biggest short by value, according to S3.  </p><p><blockquote>**空头短缺——上周被做空的游戏驿站股票数量下降了一半以上，因为他们押注的股票估值飙升，卖空者争先恐后地回补押注。尽管如此，根据S3的数据，截至周五，游戏驿站的空头利息仍为88.2亿美元，使其成为价值第六大空头。</blockquote></p><p>    ** REDDIT FORUMS - WallStreetBets saw a surge in posts on Monday arguing that the bets on silver were undercutting their focus on GameStop and other popular stocks. Swings in the forum's almost 8 million participants may decide where the pack move next.  ** BROADER MARKETS BOUNCE - The S&amp;P 500, hit by the fallout of the battle last week, registered its biggest daily percentage gain since November on Monday. Still, the U.S. stock market which some analysts argue already looks overvalued after a stimulus-powered rally last year, was at risk of falling further if the short squeeze persists.   </p><p><blockquote>**REDDIT论坛—WallStreetBets周一的帖子激增，认为对白银的押注削弱了他们对游戏驿站和其他热门股票的关注。论坛近800万参与者的波动可能会决定群体下一步的走向。**大盘反弹——受到上周战斗影响的标普500周一录得自11月以来最大单日百分比涨幅。尽管如此，一些分析师认为，在去年刺激措施推动的反弹之后，美国股市看起来已经被高估，如果轧空持续下去，美国股市将面临进一步下跌的风险。</blockquote></p><p> (Writing by Sagarika Jaisinghani in Bengaluru; Editing by Bernard Orr)</p><p><blockquote>（Sagarika Jaisinghani在班加罗尔撰写；Bernard Orr编辑）</blockquote></p><p>((Sagarika.Jaisinghani@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256))</p><p><blockquote>（（Sagarika.Jaisinghani@thomsonreuters.com；美国境内+1 646 223 878 0；美国境外+91 80 618 2 225 6））</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SLV":"白银ETF-iShares","AMC":"AMC院线","GME":"游戏驿站","CME":"芝加哥商品交易所"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108789545","content_text":"Feb 2 (Reuters) - Silver dropped more than 4% on Tuesday and GameStop Corp     sank 33% in early European deals, raising questions about how long a social media-fueled trading frenzy in stocks and other assets would last.   The populist trading rally, organized in online forums such as Reddit's WallStreetBets, has helped attract a flood of retail cash into stocks such as GameStop, burned hedge funds that had bet against the stocks and roiled broader markets.   Here are five things to watch on Tuesday:    ** SILVER MARGINS - The rally in silver halted overnight with prices slipping back below $30 after CME Group    raised Comex 5000 Silver Futures maintenance margins by 17.9%. Frankfurt-listed shares of GameStop   , the trigger for the slugfest between amateur investors and Wall Street hedge funds last week, also plunged 37% at the open following a 19% slide on Monday.          ** BROKER CAPITAL - Robinhood, the easy access brokerage app which has fueled the trades, raised another $2.4 billion in funding on top of the $1 billion it raised last week after its finances were strained by the retail trading frenzy, but will that be enough?      ** SHORT OF SHORTS - The number of GameStop shares that were shorted fell by more than half last week as short sellers scrambled to cover their bets due to soaring valuations of stocks they had bet would fall. Still, GameStop short interest stood at $8.82 billion as of Friday, making it the sixth-biggest short by value, according to S3.      ** REDDIT FORUMS - WallStreetBets saw a surge in posts on Monday arguing that the bets on silver were undercutting their focus on GameStop and other popular stocks. Swings in the forum's almost 8 million participants may decide where the pack move next.  ** BROADER MARKETS BOUNCE - The S&P 500, hit by the fallout of the battle last week, registered its biggest daily percentage gain since November on Monday. Still, the U.S. stock market which some analysts argue already looks overvalued after a stimulus-powered rally last year, was at risk of falling further if the short squeeze persists.    (Writing by Sagarika Jaisinghani in Bengaluru; Editing by Bernard Orr)((Sagarika.Jaisinghani@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256))","news_type":1,"symbols_score_info":{"GME":0.9,"SLV":0.9,"AMC":0.9,"CME":0.9,"GME.AU":0.9}},"isVote":1,"tweetType":1,"viewCount":2044,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":false}