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- HBGHBG
  ·2021-12-18
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  非常抱歉，此主贴已删除
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- HBGHBG
  ·2021-12-17
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  Economic Data Scheduled For Friday<blockquote>经济数据定于周五公布</blockquote>
  The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:0
  Economic Data Scheduled For Friday<blockquote>经济数据定于周五公布</blockquote>
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- HBGHBG
  ·2021-12-16
  Hello
  SEC Proposes Tighter Rules on Insider Trading, Stock Buybacks<blockquote>SEC提议对内幕交易和股票回购制定更严格的规则</blockquote>
  WASHINGTON—Wall Street’s regulator is putting forward tighter rules on how and when corporate inside
  SEC Proposes Tighter Rules on Insider Trading, Stock Buybacks<blockquote>SEC提议对内幕交易和股票回购制定更严格的规则</blockquote>
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- HBGHBG
  ·2021-12-15
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  非常抱歉，此主贴已删除
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- HBGHBG
  ·2021-12-14
  Hello
  2 Top Metaverse Stocks to Buy and Hold for the Next Decade<blockquote>未来十年最值得购买和持有的2只元宇宙股票</blockquote>
  The metaverse could be the most transformative technology of your lifetime.
  2 Top Metaverse Stocks to Buy and Hold for the Next Decade<blockquote>未来十年最值得购买和持有的2只元宇宙股票</blockquote>
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- HBGHBG
  ·2021-12-13
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  Bull Run Enters Late Cycle<blockquote>牛市进入后期周期</blockquote>
  Summary The short-term correction has probably not ended yet. Macroeconomic indicators signal furth
  Bull Run Enters Late Cycle<blockquote>牛市进入后期周期</blockquote>
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- HBGHBG
  ·2021-12-12
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  非常抱歉，此主贴已删除
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- HBGHBG
  ·2021-12-11
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  非常抱歉，此主贴已删除
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- HBGHBG
  ·2021-12-10
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  非常抱歉，此主贴已删除
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- HBGHBG
  ·2021-12-09
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San Francisco Federal Reserve President Mary Daly is set to speak at 1:00 p.m. ET. ...</p><p><blockquote><div>贝克休斯最近一周北美钻机数量报告定于下午1:00发布。美国东部时间。旧金山美联储主席玛丽·戴利将于美国东部时间下午1:00发表讲话。...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/12/24664201/economic-data-scheduled-for-friday\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/12/24664201/economic-data-scheduled-for-friday\">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>Economic Data Scheduled For Friday<blockquote>经济数据定于周五公布</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\">\nEconomic Data Scheduled For Friday<blockquote>经济数据定于周五公布</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-12-17 17:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET. San Francisco Federal Reserve President Mary Daly is set to speak at 1:00 p.m. ET. ...</p><p><blockquote><div>贝克休斯最近一周北美钻机数量报告定于下午1:00发布。美国东部时间。旧金山美联储主席玛丽·戴利将于美国东部时间下午1:00发表讲话。...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/12/24664201/economic-data-scheduled-for-friday\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/12/24664201/economic-data-scheduled-for-friday\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/12/24664201/economic-data-scheduled-for-friday\">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":{},"source_url":"https://www.benzinga.com/news/21/12/24664201/economic-data-scheduled-for-friday","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133747489","content_text":"The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.\nSan Francisco Federal Reserve President Mary Daly is set to speak at 1:00 p.m. ET.\nFederal Reserve Governor Christopher Waller will speak at 1:00 p.m. ET.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4573,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690315904,"gmtCreate":1639633703515,"gmtModify":1639633703715,"author":{"id":"3586502447028517","authorId":"3586502447028517","name":"HBG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586502447028517","idStr":"3586502447028517"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/690315904","repostId":"1162912899","repostType":4,"repost":{"id":"1162912899","kind":"news","pubTimestamp":1639633236,"share":"https://www.laohu8.com/m/news/1162912899?lang=zh_CN&edition=full","pubTime":"2021-12-16 13:40","market":"us","language":"en","title":"SEC Proposes Tighter Rules on Insider Trading, Stock Buybacks<blockquote>SEC提议对内幕交易和股票回购制定更严格的规则</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162912899","media":"WSJ","summary":"WASHINGTON—Wall Street’s regulator is putting forward tighter rules on how and when corporate inside","content":"<p>WASHINGTON—Wall Street’s regulator is putting forward tighter rules on how and when corporate insiders can sell their companies’ stocks, just as executives&nbsp;are cashing in at historic levels.</p><p><blockquote>华盛顿——华尔街监管机构正在就企业内部人士如何以及何时出售公司股票提出更严格的规定，就在高管们以历史水平获利之际。</blockquote></p><p> The Securities and Exchange Commission proposed new restrictions on executive stock trading and greater disclosure requirements around company share buybacks at a meeting Wednesday. If most of the SEC’s five commissioners support these proposals, along with two others, the agency will put the changes out for public comment before voting to complete them, potentially next year.</p><p><blockquote>美国证券交易委员会在周三的一次会议上提议对高管股票交易实施新的限制，并对公司股票回购提出更高的披露要求。如果SEC五名委员中的大多数以及另外两名委员支持这些提案，该机构将在投票完成这些提案之前征求公众意见，可能会在明年进行。</blockquote></p><p> “The core issue is that these insiders regularly have material information that the public doesn’t have,” SEC Chairman Gary Gensler said in a statement. Wednesday’s proposal seeks to ensure their stock trading is done “in a way that’s fair to the marketplace,” he added.</p><p><blockquote>SEC主席Gary Gensler在一份声明中表示：“核心问题是，这些内部人士经常掌握公众没有的重要信息。”他补充说，周三的提议旨在确保他们的股票交易“以对市场公平的方式”进行。</blockquote></p><p> Under current rules, corporate officers and directors establish 10b5-1 plans, which schedule future share purchases or sales, to avoid running afoul of insider-trading claims.</p><p><blockquote>根据现行规定，公司高管和董事制定10b5-1计划，安排未来的股票购买或出售，以避免与内幕交易索赔发生冲突。</blockquote></p><p> The plans&nbsp;have been controversial for years&nbsp;because there is no required public disclosure at the time a company insider sets up a plan. Some investors say the arrangements can be abused because executives can modify or cancel them, or establish a plan to sell shares the same day.</p><p><blockquote>这些计划多年来一直存在争议，因为公司内部人士制定计划时不需要公开披露。一些投资者表示，这些安排可能会被滥用，因为高管可以修改或取消这些安排，或者制定当天出售股票的计划。</blockquote></p><p> The proposed rule would require corporate directors or officers to wait 120 days before trading after either adopting or modifying a 10b5-1 plan. Executives would also have to certify that they are not aware of any important information not available to the public about the company or stock when creating or modifying a plan.</p><p><blockquote>拟议的规则将要求公司董事或高管在采用或修改10b5-1计划后等待120天才能进行交易。高管们还必须证明，在制定或修改计划时，他们不知道公众无法获得的有关公司或股票的任何重要信息。</blockquote></p><p> Companies would also have to disclose more information about their insider-trading policies and their practices around option grants that are timed within 14 days of a significant news release.</p><p><blockquote>公司还必须在重大新闻发布后14天内披露有关其内幕交易政策和期权授予做法的更多信息。</blockquote></p><p> Recent academic research has shown that trades occurring within 60 days of a plan’s establishment were more likely to avoid significant losses and to have come ahead of stock-price declines. The advantages disappeared after 60 days.</p><p><blockquote>最近的学术研究表明，在计划制定后60天内进行的交易更有可能避免重大损失，并且在股价下跌之前进行。优势在60天后消失。</blockquote></p><p> All five SEC commissioners voted to support the 10b5-1 rule, though Republicans Hester Peirce and Elad Roisman voiced concerns that some of the proposed changes would go too far.</p><p><blockquote>所有五名SEC委员都投票支持10b5-1规则，尽管共和党人Hester Peirce和Elad Roisman表示担心一些拟议的变化会走得太远。</blockquote></p><p> In addition to the executive-trading proposal, commissioners will vote on proposed changes to disclosures around stock buybacks by public companies, which are also hitting records this year.</p><p><blockquote>除了高管交易提案外，委员们还将就上市公司股票回购披露的拟议变更进行投票，今年的股票回购也创下了纪录。</blockquote></p><p> Repurchases support stock prices by reducing the number of shares outstanding in a company, lifting the firm’s earnings per share. Like dividends, they enable companies to return cash to investors. But critics say buybacks allow executives who are partly paid in equity or options a roundabout way of boosting their own compensation at the expense of workers’ wages or productive investments.</p><p><blockquote>回购通过减少公司已发行股票数量、提高公司每股收益来支撑股价。与股息一样，它们使公司能够向投资者返还现金。但批评人士表示，回购让部分通过股权或期权获得报酬的高管成为一种迂回方式，以牺牲工人工资或生产性投资为代价来提高自己的薪酬。</blockquote></p><p> The SEC’s proposal would require disclosures of stock buybacks to be more detailed and more frequent. Firms would have to describe the rationale for buybacks and the criteria used to determine the amount of shares to be repurchased.</p><p><blockquote>美国证券交易委员会的提议将要求更详细、更频繁地披露股票回购。公司必须描述回购的理由以及用于确定回购股票数量的标准。</blockquote></p><p> Rather than disclosing monthly share repurchases once per quarter, companies would have to report buybacks on the next business day. The proposal would also require firms to indicate whether any executives bought or sold shares within 10 business days of the announcement of a buyback program.</p><p><blockquote>公司必须在下一个工作日报告回购情况，而不是每季度披露一次每月股票回购情况。该提案还要求公司在宣布回购计划后10个工作日内表明是否有高管购买或出售股票。</blockquote></p><p> SEC officials said one goal of the proposal is to help investors determine whether there is any connection between a company’s stock-buyback program and executive compensation.</p><p><blockquote>SEC官员表示，该提案的目标之一是帮助投资者确定公司的股票回购计划与高管薪酬之间是否存在任何联系。</blockquote></p><p> Ms. Peirce and Mr. Roisman said they wouldn’t support the proposed changes around buybacks, while the commission’s three Democrats said they would.</p><p><blockquote>皮尔斯女士和罗斯曼先生表示，他们不会支持围绕回购的拟议变化，而委员会的三名民主党人则表示会支持。</blockquote></p><p> “Say ‘dividend,’ and nobody gets angry, but say ‘share buyback,’ and the rage boils over,” Ms. Peirce said. “Today’s proposal channels some of that rage against repurchases in a way that only a regulator can: through painfully granular, unnecessarily frequent disclosure obligations.”</p><p><blockquote>“说‘股息’，没有人会生气，但说‘股票回购’，愤怒就会沸腾，”皮尔斯女士说。“今天的提案以只有监管机构才能做到的方式疏导了一些反对回购的愤怒：通过痛苦的细化、不必要的频繁披露义务。”</blockquote></p><p> Also on Wednesday, the SEC advanced proposed changes to rules governing money-market mutual funds and to the regulation of opaque swap trades that fueled billions of dollars of losses at global investment banks earlier this year when Archegos Capital Management imploded.</p><p><blockquote>同样在周三，美国证券交易委员会提出了对货币市场共同基金管理规则和不透明掉期交易监管的拟议修改，今年早些时候Archegos Capital Management倒闭时，这些交易导致全球投资银行损失数十亿美元。</blockquote></p><p> Under the SEC’s swap proposal, companies that place large bets using contracts that track the performance of a company’s stock—but don’t involve holding actual shares—would need to report those bets publicly. Archegos used such swaps to quietly amass big, concentrated positions in companies such as ViacomCBS Inc. and Chinese internet giant Baidu Inc.</p><p><blockquote>根据SEC的互换提案，使用跟踪公司股票表现的合同进行大额押注（但不涉及持有实际股票）的公司需要公开报告这些押注。Archegos利用此类互换悄悄地在ViacomCBS Inc.和中国互联网巨头百度等公司积累了大量集中的头寸。</blockquote></p><p> Wall Street banks typically broker such swaps. They can allow sophisticated investors to sidestep SEC rules requiring any person or firm that acquires more than 5% of a company’s shares to publicly disclose the stake. Wednesday’s proposal could bring similar disclosure requirements to swap-based trades.</p><p><blockquote>华尔街银行通常会经纪此类掉期。它们可以让老练的投资者规避SEC的规定，该规定要求任何收购公司5%以上股份的个人或公司公开披露所持股份。周三的提议可能会给基于掉期的交易带来类似的披露要求。</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>SEC Proposes Tighter Rules on Insider Trading, Stock Buybacks<blockquote>SEC提议对内幕交易和股票回购制定更严格的规则</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC Proposes Tighter Rules on Insider Trading, Stock Buybacks<blockquote>SEC提议对内幕交易和股票回购制定更严格的规则</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">WSJ</strong><span class=\"h-time small\">2021-12-16 13:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>WASHINGTON—Wall Street’s regulator is putting forward tighter rules on how and when corporate insiders can sell their companies’ stocks, just as executives&nbsp;are cashing in at historic levels.</p><p><blockquote>华盛顿——华尔街监管机构正在就企业内部人士如何以及何时出售公司股票提出更严格的规定，就在高管们以历史水平获利之际。</blockquote></p><p> The Securities and Exchange Commission proposed new restrictions on executive stock trading and greater disclosure requirements around company share buybacks at a meeting Wednesday. If most of the SEC’s five commissioners support these proposals, along with two others, the agency will put the changes out for public comment before voting to complete them, potentially next year.</p><p><blockquote>美国证券交易委员会在周三的一次会议上提议对高管股票交易实施新的限制，并对公司股票回购提出更高的披露要求。如果SEC五名委员中的大多数以及另外两名委员支持这些提案，该机构将在投票完成这些提案之前征求公众意见，可能会在明年进行。</blockquote></p><p> “The core issue is that these insiders regularly have material information that the public doesn’t have,” SEC Chairman Gary Gensler said in a statement. Wednesday’s proposal seeks to ensure their stock trading is done “in a way that’s fair to the marketplace,” he added.</p><p><blockquote>SEC主席Gary Gensler在一份声明中表示：“核心问题是，这些内部人士经常掌握公众没有的重要信息。”他补充说，周三的提议旨在确保他们的股票交易“以对市场公平的方式”进行。</blockquote></p><p> Under current rules, corporate officers and directors establish 10b5-1 plans, which schedule future share purchases or sales, to avoid running afoul of insider-trading claims.</p><p><blockquote>根据现行规定，公司高管和董事制定10b5-1计划，安排未来的股票购买或出售，以避免与内幕交易索赔发生冲突。</blockquote></p><p> The plans&nbsp;have been controversial for years&nbsp;because there is no required public disclosure at the time a company insider sets up a plan. Some investors say the arrangements can be abused because executives can modify or cancel them, or establish a plan to sell shares the same day.</p><p><blockquote>这些计划多年来一直存在争议，因为公司内部人士制定计划时不需要公开披露。一些投资者表示，这些安排可能会被滥用，因为高管可以修改或取消这些安排，或者制定当天出售股票的计划。</blockquote></p><p> The proposed rule would require corporate directors or officers to wait 120 days before trading after either adopting or modifying a 10b5-1 plan. Executives would also have to certify that they are not aware of any important information not available to the public about the company or stock when creating or modifying a plan.</p><p><blockquote>拟议的规则将要求公司董事或高管在采用或修改10b5-1计划后等待120天才能进行交易。高管们还必须证明，在制定或修改计划时，他们不知道公众无法获得的有关公司或股票的任何重要信息。</blockquote></p><p> Companies would also have to disclose more information about their insider-trading policies and their practices around option grants that are timed within 14 days of a significant news release.</p><p><blockquote>公司还必须在重大新闻发布后14天内披露有关其内幕交易政策和期权授予做法的更多信息。</blockquote></p><p> Recent academic research has shown that trades occurring within 60 days of a plan’s establishment were more likely to avoid significant losses and to have come ahead of stock-price declines. The advantages disappeared after 60 days.</p><p><blockquote>最近的学术研究表明，在计划制定后60天内进行的交易更有可能避免重大损失，并且在股价下跌之前进行。优势在60天后消失。</blockquote></p><p> All five SEC commissioners voted to support the 10b5-1 rule, though Republicans Hester Peirce and Elad Roisman voiced concerns that some of the proposed changes would go too far.</p><p><blockquote>所有五名SEC委员都投票支持10b5-1规则，尽管共和党人Hester Peirce和Elad Roisman表示担心一些拟议的变化会走得太远。</blockquote></p><p> In addition to the executive-trading proposal, commissioners will vote on proposed changes to disclosures around stock buybacks by public companies, which are also hitting records this year.</p><p><blockquote>除了高管交易提案外，委员们还将就上市公司股票回购披露的拟议变更进行投票，今年的股票回购也创下了纪录。</blockquote></p><p> Repurchases support stock prices by reducing the number of shares outstanding in a company, lifting the firm’s earnings per share. Like dividends, they enable companies to return cash to investors. But critics say buybacks allow executives who are partly paid in equity or options a roundabout way of boosting their own compensation at the expense of workers’ wages or productive investments.</p><p><blockquote>回购通过减少公司已发行股票数量、提高公司每股收益来支撑股价。与股息一样，它们使公司能够向投资者返还现金。但批评人士表示，回购让部分通过股权或期权获得报酬的高管成为一种迂回方式，以牺牲工人工资或生产性投资为代价来提高自己的薪酬。</blockquote></p><p> The SEC’s proposal would require disclosures of stock buybacks to be more detailed and more frequent. Firms would have to describe the rationale for buybacks and the criteria used to determine the amount of shares to be repurchased.</p><p><blockquote>美国证券交易委员会的提议将要求更详细、更频繁地披露股票回购。公司必须描述回购的理由以及用于确定回购股票数量的标准。</blockquote></p><p> Rather than disclosing monthly share repurchases once per quarter, companies would have to report buybacks on the next business day. The proposal would also require firms to indicate whether any executives bought or sold shares within 10 business days of the announcement of a buyback program.</p><p><blockquote>公司必须在下一个工作日报告回购情况，而不是每季度披露一次每月股票回购情况。该提案还要求公司在宣布回购计划后10个工作日内表明是否有高管购买或出售股票。</blockquote></p><p> SEC officials said one goal of the proposal is to help investors determine whether there is any connection between a company’s stock-buyback program and executive compensation.</p><p><blockquote>SEC官员表示，该提案的目标之一是帮助投资者确定公司的股票回购计划与高管薪酬之间是否存在任何联系。</blockquote></p><p> Ms. Peirce and Mr. Roisman said they wouldn’t support the proposed changes around buybacks, while the commission’s three Democrats said they would.</p><p><blockquote>皮尔斯女士和罗斯曼先生表示，他们不会支持围绕回购的拟议变化，而委员会的三名民主党人则表示会支持。</blockquote></p><p> “Say ‘dividend,’ and nobody gets angry, but say ‘share buyback,’ and the rage boils over,” Ms. Peirce said. “Today’s proposal channels some of that rage against repurchases in a way that only a regulator can: through painfully granular, unnecessarily frequent disclosure obligations.”</p><p><blockquote>“说‘股息’，没有人会生气，但说‘股票回购’，愤怒就会沸腾，”皮尔斯女士说。“今天的提案以只有监管机构才能做到的方式疏导了一些反对回购的愤怒：通过痛苦的细化、不必要的频繁披露义务。”</blockquote></p><p> Also on Wednesday, the SEC advanced proposed changes to rules governing money-market mutual funds and to the regulation of opaque swap trades that fueled billions of dollars of losses at global investment banks earlier this year when Archegos Capital Management imploded.</p><p><blockquote>同样在周三，美国证券交易委员会提出了对货币市场共同基金管理规则和不透明掉期交易监管的拟议修改，今年早些时候Archegos Capital Management倒闭时，这些交易导致全球投资银行损失数十亿美元。</blockquote></p><p> Under the SEC’s swap proposal, companies that place large bets using contracts that track the performance of a company’s stock—but don’t involve holding actual shares—would need to report those bets publicly. Archegos used such swaps to quietly amass big, concentrated positions in companies such as ViacomCBS Inc. and Chinese internet giant Baidu Inc.</p><p><blockquote>根据SEC的互换提案，使用跟踪公司股票表现的合同进行大额押注（但不涉及持有实际股票）的公司需要公开报告这些押注。Archegos利用此类互换悄悄地在ViacomCBS Inc.和中国互联网巨头百度等公司积累了大量集中的头寸。</blockquote></p><p> Wall Street banks typically broker such swaps. They can allow sophisticated investors to sidestep SEC rules requiring any person or firm that acquires more than 5% of a company’s shares to publicly disclose the stake. Wednesday’s proposal could bring similar disclosure requirements to swap-based trades.</p><p><blockquote>华尔街银行通常会经纪此类掉期。它们可以让老练的投资者规避SEC的规定，该规定要求任何收购公司5%以上股份的个人或公司公开披露所持股份。周三的提议可能会给基于掉期的交易带来类似的披露要求。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/sec-proposes-tighter-rules-on-insider-trading-stock-buybacks-11639580403?mod=markets_major_pos11\">WSJ</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.wsj.com/articles/sec-proposes-tighter-rules-on-insider-trading-stock-buybacks-11639580403?mod=markets_major_pos11","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162912899","content_text":"WASHINGTON—Wall Street’s regulator is putting forward tighter rules on how and when corporate insiders can sell their companies’ stocks, just as executives are cashing in at historic levels.\nThe Securities and Exchange Commission proposed new restrictions on executive stock trading and greater disclosure requirements around company share buybacks at a meeting Wednesday. If most of the SEC’s five commissioners support these proposals, along with two others, the agency will put the changes out for public comment before voting to complete them, potentially next year.\n“The core issue is that these insiders regularly have material information that the public doesn’t have,” SEC Chairman Gary Gensler said in a statement. Wednesday’s proposal seeks to ensure their stock trading is done “in a way that’s fair to the marketplace,” he added.\nUnder current rules, corporate officers and directors establish 10b5-1 plans, which schedule future share purchases or sales, to avoid running afoul of insider-trading claims.\nThe plans have been controversial for years because there is no required public disclosure at the time a company insider sets up a plan. Some investors say the arrangements can be abused because executives can modify or cancel them, or establish a plan to sell shares the same day.\nThe proposed rule would require corporate directors or officers to wait 120 days before trading after either adopting or modifying a 10b5-1 plan. Executives would also have to certify that they are not aware of any important information not available to the public about the company or stock when creating or modifying a plan.\nCompanies would also have to disclose more information about their insider-trading policies and their practices around option grants that are timed within 14 days of a significant news release.\nRecent academic research has shown that trades occurring within 60 days of a plan’s establishment were more likely to avoid significant losses and to have come ahead of stock-price declines. The advantages disappeared after 60 days.\nAll five SEC commissioners voted to support the 10b5-1 rule, though Republicans Hester Peirce and Elad Roisman voiced concerns that some of the proposed changes would go too far.\nIn addition to the executive-trading proposal, commissioners will vote on proposed changes to disclosures around stock buybacks by public companies, which are also hitting records this year.\nRepurchases support stock prices by reducing the number of shares outstanding in a company, lifting the firm’s earnings per share. Like dividends, they enable companies to return cash to investors. But critics say buybacks allow executives who are partly paid in equity or options a roundabout way of boosting their own compensation at the expense of workers’ wages or productive investments.\nThe SEC’s proposal would require disclosures of stock buybacks to be more detailed and more frequent. Firms would have to describe the rationale for buybacks and the criteria used to determine the amount of shares to be repurchased.\nRather than disclosing monthly share repurchases once per quarter, companies would have to report buybacks on the next business day. The proposal would also require firms to indicate whether any executives bought or sold shares within 10 business days of the announcement of a buyback program.\nSEC officials said one goal of the proposal is to help investors determine whether there is any connection between a company’s stock-buyback program and executive compensation.\nMs. Peirce and Mr. Roisman said they wouldn’t support the proposed changes around buybacks, while the commission’s three Democrats said they would.\n“Say ‘dividend,’ and nobody gets angry, but say ‘share buyback,’ and the rage boils over,” Ms. Peirce said. “Today’s proposal channels some of that rage against repurchases in a way that only a regulator can: through painfully granular, unnecessarily frequent disclosure obligations.”\nAlso on Wednesday, the SEC advanced proposed changes to rules governing money-market mutual funds and to the regulation of opaque swap trades that fueled billions of dollars of losses at global investment banks earlier this year when Archegos Capital Management imploded.\nUnder the SEC’s swap proposal, companies that place large bets using contracts that track the performance of a company’s stock—but don’t involve holding actual shares—would need to report those bets publicly. Archegos used such swaps to quietly amass big, concentrated positions in companies such as ViacomCBS Inc. and Chinese internet giant Baidu Inc.\nWall Street banks typically broker such swaps. They can allow sophisticated investors to sidestep SEC rules requiring any person or firm that acquires more than 5% of a company’s shares to publicly disclose the stake. Wednesday’s proposal could bring similar disclosure requirements to swap-based trades.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3942,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607685056,"gmtCreate":1639533144106,"gmtModify":1639533392139,"author":{"id":"3586502447028517","authorId":"3586502447028517","name":"HBG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586502447028517","idStr":"3586502447028517"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/607685056","repostId":"1180785366","repostType":4,"isVote":1,"tweetType":1,"viewCount":3430,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607031508,"gmtCreate":1639454515697,"gmtModify":1639454515850,"author":{"id":"3586502447028517","authorId":"3586502447028517","name":"HBG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586502447028517","idStr":"3586502447028517"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/607031508","repostId":"1174933722","repostType":4,"repost":{"id":"1174933722","kind":"news","pubTimestamp":1639452484,"share":"https://www.laohu8.com/m/news/1174933722?lang=zh_CN&edition=full","pubTime":"2021-12-14 11:28","market":"us","language":"en","title":"2 Top Metaverse Stocks to Buy and Hold for the Next Decade<blockquote>未来十年最值得购买和持有的2只元宇宙股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1174933722","media":"Motley Fool","summary":"The metaverse could be the most transformative technology of your lifetime.","content":"<p>The metaverse is a nebulous idea, a technology that's not yet fully defined. But the core concept is simple: The metaverse will be a shared virtual world, blending aspects of social media, video games, and the internet. It will allow people to engage with content, interact with each other, and experience almost anything. The potential implications of that technology are tremendous.</p><p><blockquote>元宇宙是一个模糊的概念，一项尚未完全定义的技术。但核心概念很简单：元宇宙将是一个共享的虚拟世界，融合了社交媒体、视频游戏和互联网的各个方面。它将允许人们参与内容，相互互动，体验几乎任何事情。这项技术的潜在影响是巨大的。</blockquote></p><p> Venture capitalist Matthew Ball recently put a price tag on the metaverse, estimating that it could be a $30 trillion&nbsp;market opportunity 10 years down the road. And&nbsp;<b>Nvidia</b>&nbsp;CEO Jensen Huang has been even bolder, forecasting that the metaverse economy could eventually surpass the $80 trillion&nbsp;real-world economy.</p><p><blockquote>风险投资家Matthew Ball最近给元宇宙贴上了价格标签，估计10年后这可能是一个价值30万亿美元的市场机会。和<b>英伟达</b>首席执行官黄仁勋更加大胆，预测元宇宙经济最终可能超过80万亿美元的现实世界经济。</blockquote></p><p> Not surprisingly, many investors are looking for ways tocash in on this trend, and buying a few shares of Nvidia and&nbsp;<b>Adobe Systems</b>&nbsp;looks like a great way to do just that.&nbsp;Here's why.</p><p><blockquote>毫不奇怪，许多投资者正在寻找利用这一趋势的方法，并购买了一些英伟达和<b>Adobe系统</b>看起来是个很好的方法。原因如下。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fd705043d0678fb6d8bad5d9d7b0fbef\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>1. Nvidia</b></p><p><blockquote><b>1.英伟达</b></blockquote></p><p> Nvidia is best known for inventing the graphics processing unit (GPU), a chip capable of processing a tremendous amount of data quickly. Over the last two decades, GPUs have revolutionized computer graphics, and Nvidia has established its technology as the gold standard in the video game industry. However, those chips have also become the cornerstone of accelerated computing in data centers, another industry&nbsp;dominated by Nvidia.</p><p><blockquote>英伟达因发明图形处理单元（GPU）而闻名，这是一种能够快速处理大量数据的芯片。在过去的二十年里，GPU彻底改变了计算机图形学，Nvidia已将其技术确立为视频游戏行业的黄金标准。然而，这些芯片也成为了数据中心加速计算的基石，这是英伟达主导的另一个行业。</blockquote></p><p> Not surprisingly, the chipmaker has made a habit of posting impressive financial results. Revenue soared 64%&nbsp;to $24.3 billion over the past year, supercharged by Nvidia's gaming, data center, and graphics businesses. Its bottom line grew even faster, as&nbsp;free cash flow&nbsp;rocketed 69% to $7.2 billion.</p><p><blockquote>毫不奇怪，这家芯片制造商已经养成了公布令人印象深刻的财务业绩的习惯。在英伟达游戏、数据中心和图形业务的推动下，过去一年的收入飙升了64%，达到243亿美元。其利润增长更快，自由现金流猛增69%，达到72亿美元。</blockquote></p><p> In the coming years, Nvidia's expertise in graphics and accelerated computing should make it a key player in shaping the metaverse. Its recent launch of the Omniverse suite only makes that more likely. Specifically, Omniverse is a GPU-powered 3D development platform that allows creators to collaborate in real time across a variety of 3D design software. That includes products like&nbsp;<b>Unity</b>'s&nbsp;game engine&nbsp;and Adobe Substance 3D.</p><p><blockquote>未来几年，英伟达在图形和加速计算方面的专业知识应该会使其成为塑造元宇宙的关键参与者。它最近推出的Omniverse套件只会让这种可能性更大。具体来说，Omniverse是一个GPU驱动的3D开发平台，允许创作者跨各种3D设计软件进行实时协作。其中包括以下产品<b>团结</b>的游戏引擎和Adobe Substance 3D。</blockquote></p><p> More recently, Nvidia released Omniverse Avatar, a platform for creating artifical-intelligence-powered avatars (digital automatons) that can think, understand, and interact like real people. That's important because the metaverse will likely be full of non-player characters (NPCs), a term that typically refers to video game characters not controlled by the gamer. Those NPCs will make the metaverse feel more like the real world, and Nvidia's technology looks like a perfect fit.</p><p><blockquote>最近，Nvidia发布了Omniverse Avatar，这是一个创建人工智能驱动的化身（数字机器人）的平台，可以像真人一样思考、理解和互动。这很重要，因为元宇宙可能会充满非玩家角色(NPC)，这个术语通常指的是不受游戏玩家控制的视频游戏角色。这些NPC会让元宇宙感觉更像现实世界，而英伟达的技术看起来非常适合。</blockquote></p><p> <b>2. Adobe Systems</b></p><p><blockquote><b>2.Adobe系统</b></blockquote></p><p> Adobe breaks its portfolio into three software clouds: Creativity, digital documents, and customer experience. Creative Cloud is perhaps the best known, featuring tools like Photoshop&nbsp;for image editing, Premiere Pro&nbsp;for video editing, and After Effects for cinematic special effects, all three of which are market-leading products. Likewise, many of Adobe's Document Cloud applications have also become industry standards, such as Acrobat for PDF management.</p><p><blockquote>Adobe将其产品组合分为三个软件云：创意、数字文档和客户体验。Creative Cloud可能是最知名的，它拥有用于图像编辑的Photoshop、用于视频编辑的Premiere Pro和用于电影特效的After Effects等工具，这三种工具都是市场领先的产品。同样，Adobe的许多文档云应用程序也已成为行业标准，例如用于PDF管理的Acrobat。</blockquote></p><p> The other piece of Adobe's business is Experience Cloud, a suite of software and services for analytics, marketing, and commerce. Those tools lean on&nbsp;artificial intelligence&nbsp;to help businesses collect data, target content, and personalize the customer journey across mobile apps, websites, and other digital channels. Research company&nbsp;<b>Gartner</b>&nbsp;has recognized Adobe as a leader in the digital experience industry, citing its capacity to manage customer data and personalize content as key differentiators.</p><p><blockquote>Adobe业务的另一部分是Experience Cloud，这是一套用于分析、营销和商业的软件和服务。这些工具依靠人工智能来帮助企业收集数据、定位内容，并通过移动应用程序、网站和其他数字渠道个性化客户旅程。研究公司<b>Gartner</b>已将Adobe视为数字体验行业的领导者，并将其管理客户数据和个性化内容的能力视为关键差异化因素。</blockquote></p><p> Not surprisingly, Adobe's lineup of best-in-class products has been a powerful growth driver. Over the past year, revenue rose 21% to $15.1 billion, and free cash flow surged 34% to $6.6 billion. Moreover, the company is well positioned to maintain that momentum, as many products in its portfolio are relevant to the metaverse, especially in the Creative Cloud and Experience Cloud suites.</p><p><blockquote>毫不奇怪，Adobe的一流产品阵容一直是强大的增长动力。过去一年，收入增长21%至151亿美元，自由现金流飙升34%至66亿美元。此外，该公司处于有利地位，可以保持这一势头，因为其产品组合中的许多产品都与元宇宙相关，尤其是Creative Cloud和Experience Cloud套件。</blockquote></p><p> For instance, Adobe Substance&nbsp;3D is a platform for creating, staging, and texturizing 3D content. Substance 3D is already essential&nbsp;to most video game and visual effects workflows, and it should be a valuable resource in creating the virtual content within the metaverse.</p><p><blockquote>例如，Adobe Substance 3D是一个用于创建、暂存和纹理化3D内容的平台。Substance 3D对于大多数视频游戏和视觉效果工作流程来说已经是必不可少的，它应该是在元宇宙中创建虚拟内容的宝贵资源。</blockquote></p><p> Likewise, the metaverse economy will likely mirror the real-world economy, meaning consumers will be able to shop, attend events, and play games. In other words, providing a high-quality experience will be just as critical in a virtual world as it is in the real world. And Adobe's tools for analytics, marketing, and commerce fit that bill perfectly.</p><p><blockquote>同样，元宇宙经济可能会反映现实世界的经济，这意味着消费者将能够购物、参加活动和玩游戏。换句话说，提供高质量的体验在虚拟世界中和在现实世界中一样重要。Adobe的分析、营销和商务工具完全符合这一要求。</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 Top Metaverse Stocks to Buy and Hold for the Next Decade<blockquote>未来十年最值得购买和持有的2只元宇宙股票</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 Top Metaverse Stocks to Buy and Hold for the Next Decade<blockquote>未来十年最值得购买和持有的2只元宇宙股票</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\">2021-12-14 11:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The metaverse is a nebulous idea, a technology that's not yet fully defined. But the core concept is simple: The metaverse will be a shared virtual world, blending aspects of social media, video games, and the internet. It will allow people to engage with content, interact with each other, and experience almost anything. The potential implications of that technology are tremendous.</p><p><blockquote>元宇宙是一个模糊的概念，一项尚未完全定义的技术。但核心概念很简单：元宇宙将是一个共享的虚拟世界，融合了社交媒体、视频游戏和互联网的各个方面。它将允许人们参与内容，相互互动，体验几乎任何事情。这项技术的潜在影响是巨大的。</blockquote></p><p> Venture capitalist Matthew Ball recently put a price tag on the metaverse, estimating that it could be a $30 trillion&nbsp;market opportunity 10 years down the road. And&nbsp;<b>Nvidia</b>&nbsp;CEO Jensen Huang has been even bolder, forecasting that the metaverse economy could eventually surpass the $80 trillion&nbsp;real-world economy.</p><p><blockquote>风险投资家Matthew Ball最近给元宇宙贴上了价格标签，估计10年后这可能是一个价值30万亿美元的市场机会。和<b>英伟达</b>首席执行官黄仁勋更加大胆，预测元宇宙经济最终可能超过80万亿美元的现实世界经济。</blockquote></p><p> Not surprisingly, many investors are looking for ways tocash in on this trend, and buying a few shares of Nvidia and&nbsp;<b>Adobe Systems</b>&nbsp;looks like a great way to do just that.&nbsp;Here's why.</p><p><blockquote>毫不奇怪，许多投资者正在寻找利用这一趋势的方法，并购买了一些英伟达和<b>Adobe系统</b>看起来是个很好的方法。原因如下。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fd705043d0678fb6d8bad5d9d7b0fbef\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>1. Nvidia</b></p><p><blockquote><b>1.英伟达</b></blockquote></p><p> Nvidia is best known for inventing the graphics processing unit (GPU), a chip capable of processing a tremendous amount of data quickly. Over the last two decades, GPUs have revolutionized computer graphics, and Nvidia has established its technology as the gold standard in the video game industry. However, those chips have also become the cornerstone of accelerated computing in data centers, another industry&nbsp;dominated by Nvidia.</p><p><blockquote>英伟达因发明图形处理单元（GPU）而闻名，这是一种能够快速处理大量数据的芯片。在过去的二十年里，GPU彻底改变了计算机图形学，Nvidia已将其技术确立为视频游戏行业的黄金标准。然而，这些芯片也成为了数据中心加速计算的基石，这是英伟达主导的另一个行业。</blockquote></p><p> Not surprisingly, the chipmaker has made a habit of posting impressive financial results. Revenue soared 64%&nbsp;to $24.3 billion over the past year, supercharged by Nvidia's gaming, data center, and graphics businesses. Its bottom line grew even faster, as&nbsp;free cash flow&nbsp;rocketed 69% to $7.2 billion.</p><p><blockquote>毫不奇怪，这家芯片制造商已经养成了公布令人印象深刻的财务业绩的习惯。在英伟达游戏、数据中心和图形业务的推动下，过去一年的收入飙升了64%，达到243亿美元。其利润增长更快，自由现金流猛增69%，达到72亿美元。</blockquote></p><p> In the coming years, Nvidia's expertise in graphics and accelerated computing should make it a key player in shaping the metaverse. Its recent launch of the Omniverse suite only makes that more likely. Specifically, Omniverse is a GPU-powered 3D development platform that allows creators to collaborate in real time across a variety of 3D design software. That includes products like&nbsp;<b>Unity</b>'s&nbsp;game engine&nbsp;and Adobe Substance 3D.</p><p><blockquote>未来几年，英伟达在图形和加速计算方面的专业知识应该会使其成为塑造元宇宙的关键参与者。它最近推出的Omniverse套件只会让这种可能性更大。具体来说，Omniverse是一个GPU驱动的3D开发平台，允许创作者跨各种3D设计软件进行实时协作。其中包括以下产品<b>团结</b>的游戏引擎和Adobe Substance 3D。</blockquote></p><p> More recently, Nvidia released Omniverse Avatar, a platform for creating artifical-intelligence-powered avatars (digital automatons) that can think, understand, and interact like real people. That's important because the metaverse will likely be full of non-player characters (NPCs), a term that typically refers to video game characters not controlled by the gamer. Those NPCs will make the metaverse feel more like the real world, and Nvidia's technology looks like a perfect fit.</p><p><blockquote>最近，Nvidia发布了Omniverse Avatar，这是一个创建人工智能驱动的化身（数字机器人）的平台，可以像真人一样思考、理解和互动。这很重要，因为元宇宙可能会充满非玩家角色(NPC)，这个术语通常指的是不受游戏玩家控制的视频游戏角色。这些NPC会让元宇宙感觉更像现实世界，而英伟达的技术看起来非常适合。</blockquote></p><p> <b>2. Adobe Systems</b></p><p><blockquote><b>2.Adobe系统</b></blockquote></p><p> Adobe breaks its portfolio into three software clouds: Creativity, digital documents, and customer experience. Creative Cloud is perhaps the best known, featuring tools like Photoshop&nbsp;for image editing, Premiere Pro&nbsp;for video editing, and After Effects for cinematic special effects, all three of which are market-leading products. Likewise, many of Adobe's Document Cloud applications have also become industry standards, such as Acrobat for PDF management.</p><p><blockquote>Adobe将其产品组合分为三个软件云：创意、数字文档和客户体验。Creative Cloud可能是最知名的，它拥有用于图像编辑的Photoshop、用于视频编辑的Premiere Pro和用于电影特效的After Effects等工具，这三种工具都是市场领先的产品。同样，Adobe的许多文档云应用程序也已成为行业标准，例如用于PDF管理的Acrobat。</blockquote></p><p> The other piece of Adobe's business is Experience Cloud, a suite of software and services for analytics, marketing, and commerce. Those tools lean on&nbsp;artificial intelligence&nbsp;to help businesses collect data, target content, and personalize the customer journey across mobile apps, websites, and other digital channels. Research company&nbsp;<b>Gartner</b>&nbsp;has recognized Adobe as a leader in the digital experience industry, citing its capacity to manage customer data and personalize content as key differentiators.</p><p><blockquote>Adobe业务的另一部分是Experience Cloud，这是一套用于分析、营销和商业的软件和服务。这些工具依靠人工智能来帮助企业收集数据、定位内容，并通过移动应用程序、网站和其他数字渠道个性化客户旅程。研究公司<b>Gartner</b>已将Adobe视为数字体验行业的领导者，并将其管理客户数据和个性化内容的能力视为关键差异化因素。</blockquote></p><p> Not surprisingly, Adobe's lineup of best-in-class products has been a powerful growth driver. Over the past year, revenue rose 21% to $15.1 billion, and free cash flow surged 34% to $6.6 billion. Moreover, the company is well positioned to maintain that momentum, as many products in its portfolio are relevant to the metaverse, especially in the Creative Cloud and Experience Cloud suites.</p><p><blockquote>毫不奇怪，Adobe的一流产品阵容一直是强大的增长动力。过去一年，收入增长21%至151亿美元，自由现金流飙升34%至66亿美元。此外，该公司处于有利地位，可以保持这一势头，因为其产品组合中的许多产品都与元宇宙相关，尤其是Creative Cloud和Experience Cloud套件。</blockquote></p><p> For instance, Adobe Substance&nbsp;3D is a platform for creating, staging, and texturizing 3D content. Substance 3D is already essential&nbsp;to most video game and visual effects workflows, and it should be a valuable resource in creating the virtual content within the metaverse.</p><p><blockquote>例如，Adobe Substance 3D是一个用于创建、暂存和纹理化3D内容的平台。Substance 3D对于大多数视频游戏和视觉效果工作流程来说已经是必不可少的，它应该是在元宇宙中创建虚拟内容的宝贵资源。</blockquote></p><p> Likewise, the metaverse economy will likely mirror the real-world economy, meaning consumers will be able to shop, attend events, and play games. In other words, providing a high-quality experience will be just as critical in a virtual world as it is in the real world. And Adobe's tools for analytics, marketing, and commerce fit that bill perfectly.</p><p><blockquote>同样，元宇宙经济可能会反映现实世界的经济，这意味着消费者将能够购物、参加活动和玩游戏。换句话说，提供高质量的体验在虚拟世界中和在现实世界中一样重要。Adobe的分析、营销和商务工具完全符合这一要求。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/12/13/2-top-metaverse-stocks-to-buy-and-hold/\">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":{"ADBE":"Adobe","NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2021/12/13/2-top-metaverse-stocks-to-buy-and-hold/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174933722","content_text":"The metaverse is a nebulous idea, a technology that's not yet fully defined. But the core concept is simple: The metaverse will be a shared virtual world, blending aspects of social media, video games, and the internet. It will allow people to engage with content, interact with each other, and experience almost anything. The potential implications of that technology are tremendous.\nVenture capitalist Matthew Ball recently put a price tag on the metaverse, estimating that it could be a $30 trillion market opportunity 10 years down the road. And Nvidia CEO Jensen Huang has been even bolder, forecasting that the metaverse economy could eventually surpass the $80 trillion real-world economy.\nNot surprisingly, many investors are looking for ways tocash in on this trend, and buying a few shares of Nvidia and Adobe Systems looks like a great way to do just that. Here's why.\nImage source: Getty Images.\n1. Nvidia\nNvidia is best known for inventing the graphics processing unit (GPU), a chip capable of processing a tremendous amount of data quickly. Over the last two decades, GPUs have revolutionized computer graphics, and Nvidia has established its technology as the gold standard in the video game industry. However, those chips have also become the cornerstone of accelerated computing in data centers, another industry dominated by Nvidia.\nNot surprisingly, the chipmaker has made a habit of posting impressive financial results. Revenue soared 64% to $24.3 billion over the past year, supercharged by Nvidia's gaming, data center, and graphics businesses. Its bottom line grew even faster, as free cash flow rocketed 69% to $7.2 billion.\nIn the coming years, Nvidia's expertise in graphics and accelerated computing should make it a key player in shaping the metaverse. Its recent launch of the Omniverse suite only makes that more likely. Specifically, Omniverse is a GPU-powered 3D development platform that allows creators to collaborate in real time across a variety of 3D design software. That includes products like Unity's game engine and Adobe Substance 3D.\nMore recently, Nvidia released Omniverse Avatar, a platform for creating artifical-intelligence-powered avatars (digital automatons) that can think, understand, and interact like real people. That's important because the metaverse will likely be full of non-player characters (NPCs), a term that typically refers to video game characters not controlled by the gamer. Those NPCs will make the metaverse feel more like the real world, and Nvidia's technology looks like a perfect fit.\n2. Adobe Systems\nAdobe breaks its portfolio into three software clouds: Creativity, digital documents, and customer experience. Creative Cloud is perhaps the best known, featuring tools like Photoshop for image editing, Premiere Pro for video editing, and After Effects for cinematic special effects, all three of which are market-leading products. Likewise, many of Adobe's Document Cloud applications have also become industry standards, such as Acrobat for PDF management.\nThe other piece of Adobe's business is Experience Cloud, a suite of software and services for analytics, marketing, and commerce. Those tools lean on artificial intelligence to help businesses collect data, target content, and personalize the customer journey across mobile apps, websites, and other digital channels. Research company Gartner has recognized Adobe as a leader in the digital experience industry, citing its capacity to manage customer data and personalize content as key differentiators.\nNot surprisingly, Adobe's lineup of best-in-class products has been a powerful growth driver. Over the past year, revenue rose 21% to $15.1 billion, and free cash flow surged 34% to $6.6 billion. Moreover, the company is well positioned to maintain that momentum, as many products in its portfolio are relevant to the metaverse, especially in the Creative Cloud and Experience Cloud suites.\nFor instance, Adobe Substance 3D is a platform for creating, staging, and texturizing 3D content. Substance 3D is already essential to most video game and visual effects workflows, and it should be a valuable resource in creating the virtual content within the metaverse.\nLikewise, the metaverse economy will likely mirror the real-world economy, meaning consumers will be able to shop, attend events, and play games. In other words, providing a high-quality experience will be just as critical in a virtual world as it is in the real world. And Adobe's tools for analytics, marketing, and commerce fit that bill perfectly.","news_type":1,"symbols_score_info":{"ADBE":0.9,"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":3396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604828302,"gmtCreate":1639372909750,"gmtModify":1639372911797,"author":{"id":"3586502447028517","authorId":"3586502447028517","name":"HBG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586502447028517","idStr":"3586502447028517"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/604828302","repostId":"1169099899","repostType":4,"repost":{"id":"1169099899","kind":"news","pubTimestamp":1639367858,"share":"https://www.laohu8.com/m/news/1169099899?lang=zh_CN&edition=full","pubTime":"2021-12-13 11:57","market":"us","language":"en","title":"Bull Run Enters Late Cycle<blockquote>牛市进入后期周期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169099899","media":"Seeking Alpha","summary":"Summary\n\nThe short-term correction has probably not ended yet.\nMacroeconomic indicators signal furth","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>The short-term correction has probably not ended yet.</li>  <li>Macroeconomic indicators signal further upside for stocks despite short-term correction potential.</li>  <li>The Fed could face tough challenges with its loose monetary stance sooner than many expect.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/35de74b68a683fda3b95d3fd873bc678\" tg-width=\"1536\" tg-height=\"1025\" width=\"100%\" height=\"auto\"><span>MundusImages/E+ via Getty Images</span></p><p><blockquote><ul><li>短期回调很可能还没有结束。</li><li>尽管短期存在回调潜力，但宏观经济指标表明股市将进一步上涨。</li><li>美联储可能会比许多人预期更快地面临宽松货币立场的严峻挑战。</li></ul><p class=\"t-img-caption\"><span>MundusImages/E+来自Getty Images</span></p></blockquote></p><p> The business cycle is maturing but has not ended yet. It is probably entering the late-cycle stage, according to Stouff capital's estimates. Their US Long-Term Macro Index gauge reached the 90% threshold, an early indicator for economic recessions. That's relevant because recessions had a perfect track record for bear markets in stocks. Every NBER recession in the past 170 involved a bear market in US stocks.</p><p><blockquote>商业周期正在成熟，但尚未结束。根据Stouff capital的估计，它可能正在进入周期后期阶段。他们的美国长期宏观指数指标达到了90%的阈值，这是经济衰退的早期指标。这是相关的，因为经济衰退对于股市熊市来说有着完美的记录。过去170年的每一次NBER衰退都涉及美国股市的熊市。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/631eab7d5b7d2c62994d942fc86cdcfc\" tg-width=\"640\" tg-height=\"511\" width=\"100%\" height=\"auto\"><span>(Source: Refinitiv, Stouff Capital)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：Refinitiv、Stouff Capital）</span></p></blockquote></p><p> Nonetheless, entering the late stage of the business cycle does not imply that equities are in a bear market. On the contrary, equities developed positively during the late stage of the business cycle during the past century. The recession stage of the business cycle is the time window that investors want to avoid if they believe in statistical evidence. Other leading indicators, which have been reliable historically, do not signal an imminent recession yet. The labor market has been constructive until the last report. Moreover, the conference board Leading Economic Index (LEI) marked an all-time high on its latest reading. Historically, the labor market and the LEI reached their cycle peak several months ahead of the economy. Most often, both indices peaked even ahead of the US stock market before the US economy went into recession. Likewise, the yield curve is not flashing recessionary signals yet. Historically, it inverted shortly before a recession arrived and was also a leading indicator for cyclical stock market highs. That's neither the case today.</p><p><blockquote>尽管如此，进入商业周期后期并不意味着股市处于熊市。相反，股票在上个世纪商业周期的后期发展积极。如果投资者相信统计证据，商业周期的衰退阶段是他们想要避开的时间窗口。历史上可靠的其他领先指标尚未表明经济衰退即将来临。在上次报告之前，劳动力市场一直是建设性的。此外，世界大型企业联合会领先经济指数（LEI）的最新读数创下历史新高。从历史上看，劳动力市场和LEI比经济提前几个月达到周期峰值。大多数情况下，在美国经济陷入衰退之前，这两个指数甚至先于美国股市见顶。同样，收益率曲线尚未闪烁衰退信号。从历史上看，它在经济衰退到来前不久反转，也是周期性股市高点的领先指标。今天的情况也不是这样。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9fed5b5760550aa77356656aee41f1d0\" tg-width=\"640\" tg-height=\"379\" width=\"100%\" height=\"auto\"><span>(Source: Refinitiv, CEIC, Pictet Asset Management)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（资料来源：路孚特、CEIC、百达资产管理）</span></p></blockquote></p><p> However, equities corrected 5%-10% from their most recent highs into early December. The drop was not surprising because the market was running hot, as explained in our&nbsp;mid-November article&nbsp;here on Seeking Alpha. Sentiment and technical indicators signaled an imminent 5%-10% correction. Nonetheless, the correction is probably not finished short term. Some more weakness remains the base case during the next couple of weeks.</p><p><blockquote>然而，截至12月初，股市从近期高点回调了5%-10%。正如我们在11月中旬关于Seeking Alpha的文章中所解释的那样，下跌并不令人意外，因为市场正在火热。情绪和技术指标表明即将出现5%-10%的回调。尽管如此，调整可能不会在短期内完成。在接下来的几周里，更多的疲软仍然是基本情况。</blockquote></p><p> Moreover, there is something peculiar about the current cycle. It is unfolding at an unprecedented speed. Therefore, the late-cycle stage may surprise many by not lasting as long as it usually does. Further, the current environment might prove extraordinarily challenging for central banks as inflation increases rapidly. The chart above shows that European purchasing prices are more than 20% higher versus last year. That's the steepest increase of the index since the '70s. The '70s were the latest period that recorded double-digit inflation after the breakup of the Bretton-Woods exchange-rate system. Inflation pressure is also mounting in the United States as well. Not only do goods become expensive due to supply shortages, but services also joined the party lately. The development is a problem for central banks as they have no effective tools against supply-side shortages. Consequently, we are unlikely to witness monetary easing short-term. That has been a headwind for equities in recent years. Yet again, that's not a hit-and-run event and we are not there yet. Historically, equities reached their cyclical high typically well after the initial rate hike.</p><p><blockquote>此外，当前的周期还有一些奇特之处。它正以前所未有的速度展开。因此，周期后期可能会让许多人感到惊讶，因为它不会像通常那样持续很长时间。此外，随着通胀迅速上升，当前环境对央行来说可能极具挑战性。上图显示，欧洲的采购价格比去年上涨了20%以上。这是该指数自70年代以来的最大涨幅。70年代是布雷顿森林汇率体系解体后最近一个出现两位数通胀的时期。美国的通胀压力也在加大。由于供应短缺，不仅商品变得昂贵，服务最近也加入了这一行列。这一发展对央行来说是一个问题，因为它们没有有效的工具来应对供应方短缺。因此，我们不太可能在短期内看到货币宽松。近年来，这一直是股市的阻力。再说一次，这不是肇事逃逸事件，我们还没有到那一步。从历史上看，股市通常在首次加息后很久就会达到周期性高点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bfdb33a6b0c068438eae297a0bd32d1d\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>(Source: Refinitiv, CEIC, Pictet Asset Management)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（资料来源：路孚特、CEIC、百达资产管理）</span></p></blockquote></p><p> Technicals support the macro evidence outlined above. Most of the major indices probably unfolded bearish Elliot waves from their November highs. The S&amp;P 500 counts best as an extending leading diagonal into the December 6th low. That's a signal that the short-term correction may not be over yet. The pattern will probably morph into a three-wave corrective leg towards 4250-4390 instead.</p><p><blockquote>技术面支持上述宏观证据。大多数主要指数可能从11月高点展开看跌艾略特波浪。标普500最好被视为延伸到12月6日低点的领先对角线。这是一个信号，表明短期调整可能尚未结束。相反，该形态可能会演变为朝向4250-4390的三浪修正腿。</blockquote></p><p></p><p> All in all, there is potential for more damage short term. Technical evidence hints at another attack at the 4390 S/R before seeing the next sustainable leg up. Time will tell if it is the last leg up before the cycle ends. Some of the macro indicators discussed above will probably provide further hints before things turn sour. The bottom line is that the bull trend is most likely intact despite further short-term correction potential.</p><p><blockquote>总而言之，短期内有可能造成更多损害。技术证据暗示，在看到下一次可持续上涨之前，4390 S/R将再次受到攻击。时间会证明这是否是周期结束前的最后一次上涨。上面讨论的一些宏观指标可能会在事情变糟之前提供进一步的暗示。最重要的是，尽管短期内有进一步回调的潜力，但牛市趋势很可能完好无损。</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>Bull Run Enters Late Cycle<blockquote>牛市进入后期周期</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\">\nBull Run Enters Late Cycle<blockquote>牛市进入后期周期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-13 11:57</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>The short-term correction has probably not ended yet.</li>  <li>Macroeconomic indicators signal further upside for stocks despite short-term correction potential.</li>  <li>The Fed could face tough challenges with its loose monetary stance sooner than many expect.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/35de74b68a683fda3b95d3fd873bc678\" tg-width=\"1536\" tg-height=\"1025\" width=\"100%\" height=\"auto\"><span>MundusImages/E+ via Getty Images</span></p><p><blockquote><ul><li>短期回调很可能还没有结束。</li><li>尽管短期存在回调潜力，但宏观经济指标表明股市将进一步上涨。</li><li>美联储可能会比许多人预期更快地面临宽松货币立场的严峻挑战。</li></ul><p class=\"t-img-caption\"><span>MundusImages/E+来自Getty Images</span></p></blockquote></p><p> The business cycle is maturing but has not ended yet. It is probably entering the late-cycle stage, according to Stouff capital's estimates. Their US Long-Term Macro Index gauge reached the 90% threshold, an early indicator for economic recessions. That's relevant because recessions had a perfect track record for bear markets in stocks. Every NBER recession in the past 170 involved a bear market in US stocks.</p><p><blockquote>商业周期正在成熟，但尚未结束。根据Stouff capital的估计，它可能正在进入周期后期阶段。他们的美国长期宏观指数指标达到了90%的阈值，这是经济衰退的早期指标。这是相关的，因为经济衰退对于股市熊市来说有着完美的记录。过去170年的每一次NBER衰退都涉及美国股市的熊市。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/631eab7d5b7d2c62994d942fc86cdcfc\" tg-width=\"640\" tg-height=\"511\" width=\"100%\" height=\"auto\"><span>(Source: Refinitiv, Stouff Capital)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：Refinitiv、Stouff Capital）</span></p></blockquote></p><p> Nonetheless, entering the late stage of the business cycle does not imply that equities are in a bear market. On the contrary, equities developed positively during the late stage of the business cycle during the past century. The recession stage of the business cycle is the time window that investors want to avoid if they believe in statistical evidence. Other leading indicators, which have been reliable historically, do not signal an imminent recession yet. The labor market has been constructive until the last report. Moreover, the conference board Leading Economic Index (LEI) marked an all-time high on its latest reading. Historically, the labor market and the LEI reached their cycle peak several months ahead of the economy. Most often, both indices peaked even ahead of the US stock market before the US economy went into recession. Likewise, the yield curve is not flashing recessionary signals yet. Historically, it inverted shortly before a recession arrived and was also a leading indicator for cyclical stock market highs. That's neither the case today.</p><p><blockquote>尽管如此，进入商业周期后期并不意味着股市处于熊市。相反，股票在上个世纪商业周期的后期发展积极。如果投资者相信统计证据，商业周期的衰退阶段是他们想要避开的时间窗口。历史上可靠的其他领先指标尚未表明经济衰退即将来临。在上次报告之前，劳动力市场一直是建设性的。此外，世界大型企业联合会领先经济指数（LEI）的最新读数创下历史新高。从历史上看，劳动力市场和LEI比经济提前几个月达到周期峰值。大多数情况下，在美国经济陷入衰退之前，这两个指数甚至先于美国股市见顶。同样，收益率曲线尚未闪烁衰退信号。从历史上看，它在经济衰退到来前不久反转，也是周期性股市高点的领先指标。今天的情况也不是这样。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9fed5b5760550aa77356656aee41f1d0\" tg-width=\"640\" tg-height=\"379\" width=\"100%\" height=\"auto\"><span>(Source: Refinitiv, CEIC, Pictet Asset Management)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（资料来源：路孚特、CEIC、百达资产管理）</span></p></blockquote></p><p> However, equities corrected 5%-10% from their most recent highs into early December. The drop was not surprising because the market was running hot, as explained in our&nbsp;mid-November article&nbsp;here on Seeking Alpha. Sentiment and technical indicators signaled an imminent 5%-10% correction. Nonetheless, the correction is probably not finished short term. Some more weakness remains the base case during the next couple of weeks.</p><p><blockquote>然而，截至12月初，股市从近期高点回调了5%-10%。正如我们在11月中旬关于Seeking Alpha的文章中所解释的那样，下跌并不令人意外，因为市场正在火热。情绪和技术指标表明即将出现5%-10%的回调。尽管如此，调整可能不会在短期内完成。在接下来的几周里，更多的疲软仍然是基本情况。</blockquote></p><p> Moreover, there is something peculiar about the current cycle. It is unfolding at an unprecedented speed. Therefore, the late-cycle stage may surprise many by not lasting as long as it usually does. Further, the current environment might prove extraordinarily challenging for central banks as inflation increases rapidly. The chart above shows that European purchasing prices are more than 20% higher versus last year. That's the steepest increase of the index since the '70s. The '70s were the latest period that recorded double-digit inflation after the breakup of the Bretton-Woods exchange-rate system. Inflation pressure is also mounting in the United States as well. Not only do goods become expensive due to supply shortages, but services also joined the party lately. The development is a problem for central banks as they have no effective tools against supply-side shortages. Consequently, we are unlikely to witness monetary easing short-term. That has been a headwind for equities in recent years. Yet again, that's not a hit-and-run event and we are not there yet. Historically, equities reached their cyclical high typically well after the initial rate hike.</p><p><blockquote>此外，当前的周期还有一些奇特之处。它正以前所未有的速度展开。因此，周期后期可能会让许多人感到惊讶，因为它不会像通常那样持续很长时间。此外，随着通胀迅速上升，当前环境对央行来说可能极具挑战性。上图显示，欧洲的采购价格比去年上涨了20%以上。这是该指数自70年代以来的最大涨幅。70年代是布雷顿森林汇率体系解体后最近一个出现两位数通胀的时期。美国的通胀压力也在加大。由于供应短缺，不仅商品变得昂贵，服务最近也加入了这一行列。这一发展对央行来说是一个问题，因为它们没有有效的工具来应对供应方短缺。因此，我们不太可能在短期内看到货币宽松。近年来，这一直是股市的阻力。再说一次，这不是肇事逃逸事件，我们还没有到那一步。从历史上看，股市通常在首次加息后很久就会达到周期性高点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bfdb33a6b0c068438eae297a0bd32d1d\" tg-width=\"640\" tg-height=\"390\" width=\"100%\" height=\"auto\"><span>(Source: Refinitiv, CEIC, Pictet Asset Management)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（资料来源：路孚特、CEIC、百达资产管理）</span></p></blockquote></p><p> Technicals support the macro evidence outlined above. Most of the major indices probably unfolded bearish Elliot waves from their November highs. The S&amp;P 500 counts best as an extending leading diagonal into the December 6th low. That's a signal that the short-term correction may not be over yet. The pattern will probably morph into a three-wave corrective leg towards 4250-4390 instead.</p><p><blockquote>技术面支持上述宏观证据。大多数主要指数可能从11月高点展开看跌艾略特波浪。标普500最好被视为延伸到12月6日低点的领先对角线。这是一个信号，表明短期调整可能尚未结束。相反，该形态可能会演变为朝向4250-4390的三浪修正腿。</blockquote></p><p></p><p> All in all, there is potential for more damage short term. Technical evidence hints at another attack at the 4390 S/R before seeing the next sustainable leg up. Time will tell if it is the last leg up before the cycle ends. Some of the macro indicators discussed above will probably provide further hints before things turn sour. The bottom line is that the bull trend is most likely intact despite further short-term correction potential.</p><p><blockquote>总而言之，短期内有可能造成更多损害。技术证据暗示，在看到下一次可持续上涨之前，4390 S/R将再次受到攻击。时间会证明这是否是周期结束前的最后一次上涨。上面讨论的一些宏观指标可能会在事情变糟之前提供进一步的暗示。最重要的是，尽管短期内有进一步回调的潜力，但牛市趋势很可能完好无损。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4474830-bull-run-enters-late-cycle\">Seeking Alpha</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://seekingalpha.com/article/4474830-bull-run-enters-late-cycle","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169099899","content_text":"Summary\n\nThe short-term correction has probably not ended yet.\nMacroeconomic indicators signal further upside for stocks despite short-term correction potential.\nThe Fed could face tough challenges with its loose monetary stance sooner than many expect.\n\nMundusImages/E+ via Getty Images\nThe business cycle is maturing but has not ended yet. It is probably entering the late-cycle stage, according to Stouff capital's estimates. Their US Long-Term Macro Index gauge reached the 90% threshold, an early indicator for economic recessions. That's relevant because recessions had a perfect track record for bear markets in stocks. Every NBER recession in the past 170 involved a bear market in US stocks.\n(Source: Refinitiv, Stouff Capital)\nNonetheless, entering the late stage of the business cycle does not imply that equities are in a bear market. On the contrary, equities developed positively during the late stage of the business cycle during the past century. The recession stage of the business cycle is the time window that investors want to avoid if they believe in statistical evidence. Other leading indicators, which have been reliable historically, do not signal an imminent recession yet. The labor market has been constructive until the last report. Moreover, the conference board Leading Economic Index (LEI) marked an all-time high on its latest reading. Historically, the labor market and the LEI reached their cycle peak several months ahead of the economy. Most often, both indices peaked even ahead of the US stock market before the US economy went into recession. Likewise, the yield curve is not flashing recessionary signals yet. Historically, it inverted shortly before a recession arrived and was also a leading indicator for cyclical stock market highs. That's neither the case today.\n(Source: Refinitiv, CEIC, Pictet Asset Management)\nHowever, equities corrected 5%-10% from their most recent highs into early December. The drop was not surprising because the market was running hot, as explained in our mid-November article here on Seeking Alpha. Sentiment and technical indicators signaled an imminent 5%-10% correction. Nonetheless, the correction is probably not finished short term. Some more weakness remains the base case during the next couple of weeks.\nMoreover, there is something peculiar about the current cycle. It is unfolding at an unprecedented speed. Therefore, the late-cycle stage may surprise many by not lasting as long as it usually does. Further, the current environment might prove extraordinarily challenging for central banks as inflation increases rapidly. The chart above shows that European purchasing prices are more than 20% higher versus last year. That's the steepest increase of the index since the '70s. The '70s were the latest period that recorded double-digit inflation after the breakup of the Bretton-Woods exchange-rate system. Inflation pressure is also mounting in the United States as well. Not only do goods become expensive due to supply shortages, but services also joined the party lately. The development is a problem for central banks as they have no effective tools against supply-side shortages. Consequently, we are unlikely to witness monetary easing short-term. That has been a headwind for equities in recent years. Yet again, that's not a hit-and-run event and we are not there yet. Historically, equities reached their cyclical high typically well after the initial rate hike.\n(Source: Refinitiv, CEIC, Pictet Asset Management)\nTechnicals support the macro evidence outlined above. Most of the major indices probably unfolded bearish Elliot waves from their November highs. The S&P 500 counts best as an extending leading diagonal into the December 6th low. That's a signal that the short-term correction may not be over yet. The pattern will probably morph into a three-wave corrective leg towards 4250-4390 instead.\nAll in all, there is potential for more damage short term. Technical evidence hints at another attack at the 4390 S/R before seeing the next sustainable leg up. Time will tell if it is the last leg up before the cycle ends. Some of the macro indicators discussed above will probably provide further hints before things turn sour. The bottom line is that the bull trend is most likely intact despite further short-term correction potential.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605770576,"gmtCreate":1639272787215,"gmtModify":1639272787403,"author":{"id":"3586502447028517","authorId":"3586502447028517","name":"HBG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586502447028517","idStr":"3586502447028517"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/605770576","repostId":"2190674545","repostType":4,"isVote":1,"tweetType":1,"viewCount":3658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605550647,"gmtCreate":1639195570519,"gmtModify":1639195570779,"author":{"id":"3586502447028517","authorId":"3586502447028517","name":"HBG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586502447028517","idStr":"3586502447028517"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/605550647","repostId":"2190767366","repostType":4,"isVote":1,"tweetType":1,"viewCount":2777,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605993331,"gmtCreate":1639099012912,"gmtModify":1639099013074,"author":{"id":"3586502447028517","authorId":"3586502447028517","name":"HBG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586502447028517","idStr":"3586502447028517"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/605993331","repostId":"2190643508","repostType":4,"isVote":1,"tweetType":1,"viewCount":4373,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602236528,"gmtCreate":1639024261456,"gmtModify":1639024261595,"author":{"id":"3586502447028517","authorId":"3586502447028517","name":"HBG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586502447028517","idStr":"3586502447028517"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/602236528","repostId":"2190169579","repostType":4,"isVote":1,"tweetType":1,"viewCount":4086,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"defaultTab":"posts","isTTM":false}