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2021-06-18

hmmmm

Some Commodities Have Now Wiped Out All of Their 2021 Rally<blockquote>一些大宗商品现已抹去2021年的所有涨势</blockquote>

2021-06-16

oooo

抱歉，原内容已删除

2021-06-16

wow

抱歉，原内容已删除

2021-06-16

amazing

抱歉，原内容已删除

2021-06-16

hmmm

Blockchain stocks mixed in morning trading<blockquote>区块链股票早盘涨跌互现</blockquote>

2021-06-16

hmmm

抱歉，原内容已删除

2021-06-16

ooo

Is Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote>

2021-06-16

oooo

抱歉，原内容已删除

2021-06-15

😀😀😀

2021-05-25

wow

Dump Nio And Buy Tesla, Says Cramer<blockquote>克莱默表示，抛售蔚来并购买特斯拉</blockquote>

2021-05-23

hahhaahahaha 📉

2021-05-04

😶😳😐

抱歉，原内容已删除

2021-05-01

upppp

抱歉，原内容已删除

2021-05-01

😶😐😶

抱歉，原内容已删除

2021-05-01

😳😳😳

1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</blockquote>

2021-04-30

😃😃😃

21 brilliant quotes from legendary investor and polymath Charlie Munger<blockquote>传奇投资者和博学的查理·芒格的21句精彩名言</blockquote>

2021-04-30

😃😄😄

抱歉，原内容已删除

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The Bloomberg Grains Spot Subindex slid the most since 2009 on Thursday, before edging higher on Friday as markets recovered some losses. Other commodities that have seen their big rallies evaporate include platinum, while once-surging nickel, sugar and even lumber have faltered.</p><p><blockquote>大豆期货抹去了2021年的涨幅，较5月份触及的八年高点下滑了20%以上，而玉米和小麦也大幅下跌。彭博谷物现货分类指数周四出现2009年以来最大跌幅，周五随着市场收复部分失地而小幅走高。其他大幅上涨的大宗商品包括铂金，而一度飙升的镍、糖甚至木材都出现了动摇。</blockquote></p><p> The fact that some markets are falling while others -- including crude oil and tin -- are holding gains underscores how unevenly the complex is responding to economies reopening and expanding once again. While those materials have climbed on strong demand fundamentals, others face their own unique headwinds, such as an easing supply worries in soybeans and monetary policy uncertainty in the case of gold and silver.</p><p><blockquote>一些市场正在下跌，而包括原油和锡在内的其他市场则保持上涨，这一事实凸显了该综合体对经济重新开放和再次扩张的反应是多么不平衡。虽然这些材料因强劲的需求基本面而上涨，但其他材料也面临着自己独特的阻力，例如大豆供应担忧缓解以及黄金和白银货币政策的不确定性。</blockquote></p><p> Some materials also took a hit this week on the Federal Reserve’s signals for interest-rate increases, a rising dollar and China’s efforts to slow inflation. The Asian country has said it will release metals from state reserves in a timely manner to push prices back to a normal range, ramping up efforts to cool the surge in commodities.</p><p><blockquote>本周，一些材料也因美联储加息信号、美元升值以及中国减缓通胀的努力而受到打击。这个亚洲国家表示，将及时从国家储备中释放金属，以推动价格回到正常范围，加大力度为大宗商品的飙升降温。</blockquote></p><p> “Risk-off is front and center thanks to the hawkish words from the Fed, which came on the back of the Chinese government-led directives over prior weeks,” said Michael Cuoco, head of hedge-fund sales for metals and bulk materials at StoneX Group. “Central-bank stimulus helped the markets gather steam in the spring of 2020, and now there is a bit of a macro reset.”</p><p><blockquote>StoneX集团金属和大宗材料对冲基金销售主管迈克尔·库柯(Michael Cuoco)表示：“由于美联储在前几周中国政府主导的指令的支持下发表了鹰派言论，避险情绪占据了主导地位。”“央行的刺激措施帮助市场在2020年春季积聚动力，现在宏观上出现了一些重置。”</blockquote></p><p> Even some of the markets that are clearly benefiting from the reopening are seeing a pullback, with copper heading for its worst week in more than a year. A big backwardation in many commodities and seasonality accounts for some of the recent slump as futures contracts roll over, while improving weather is hurting prices of many agricultural products.</p><p><blockquote>甚至一些明显受益于重新开放的市场也出现了回调，铜价将迎来一年多来最糟糕的一周。随着期货合约的展期，许多大宗商品的大幅现货溢价和季节性是近期暴跌的部分原因，而天气的改善正在损害许多农产品的价格。</blockquote></p><p> Soybean futures in Chicago bounced more than 2% on Friday, but are still heading for a weekly loss of about 11%, the worst performance in seven years. Corn and wheat also recovered a part of Thursday’s declines.Base metals were mixed following losses on Thursday. Copper fell 0.8% on the London Metal Exchange and headed for its biggest weekly loss since March 2020. Nickel rose 0.9%. Iron ore slid 1.2% in Singapore.Precious metals rebounded, after substantial declines. Gold added 1.1%, while palladium rose about 3% after Thursday’s 11% slump.Chinese futures caught up with the overnight rout. Rapeseed and soybean oil slid, and copper and zinc dropped.</p><p><blockquote>芝加哥大豆期货周五反弹逾2%，但仍向周跌幅约11%迈进，创七年来最差表现。玉米和小麦也收复了周四的部分跌幅。基本金属在周四下跌后涨跌互现。伦敦金属交易所铜价下跌0.8%，创2020年3月以来最大单周跌幅。镍涨0.9%。新加坡铁矿石下跌1.2%。贵金属在大幅下跌后反弹。黄金上涨1.1%，钯金在周四暴跌11%后上涨约3%。中国期货赶上了隔夜的溃败。菜籽、豆油下滑，铜、锌走低。</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Some Commodities Have Now Wiped Out All of Their 2021 Rally<blockquote>一些大宗商品现已抹去2021年的所有涨势</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\">\nSome Commodities Have Now Wiped Out All of Their 2021 Rally<blockquote>一些大宗商品现已抹去2021年的所有涨势</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-06-18 16:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the year and several more are close to doing so.</p><p><blockquote>（彭博社）——尽管人们都在谈论大宗商品繁荣，但一些市场现在已经抹去了今年的涨幅，还有几个市场即将抹去。</blockquote></p><p> Soybean futures have erased their 2021 advance, sliding more than 20% from an eight-year high reached in May, while corn and wheat have also tumbled. The Bloomberg Grains Spot Subindex slid the most since 2009 on Thursday, before edging higher on Friday as markets recovered some losses. Other commodities that have seen their big rallies evaporate include platinum, while once-surging nickel, sugar and even lumber have faltered.</p><p><blockquote>大豆期货抹去了2021年的涨幅，较5月份触及的八年高点下滑了20%以上，而玉米和小麦也大幅下跌。彭博谷物现货分类指数周四出现2009年以来最大跌幅，周五随着市场收复部分失地而小幅走高。其他大幅上涨的大宗商品包括铂金，而一度飙升的镍、糖甚至木材都出现了动摇。</blockquote></p><p> The fact that some markets are falling while others -- including crude oil and tin -- are holding gains underscores how unevenly the complex is responding to economies reopening and expanding once again. While those materials have climbed on strong demand fundamentals, others face their own unique headwinds, such as an easing supply worries in soybeans and monetary policy uncertainty in the case of gold and silver.</p><p><blockquote>一些市场正在下跌，而包括原油和锡在内的其他市场则保持上涨，这一事实凸显了该综合体对经济重新开放和再次扩张的反应是多么不平衡。虽然这些材料因强劲的需求基本面而上涨，但其他材料也面临着自己独特的阻力，例如大豆供应担忧缓解以及黄金和白银货币政策的不确定性。</blockquote></p><p> Some materials also took a hit this week on the Federal Reserve’s signals for interest-rate increases, a rising dollar and China’s efforts to slow inflation. The Asian country has said it will release metals from state reserves in a timely manner to push prices back to a normal range, ramping up efforts to cool the surge in commodities.</p><p><blockquote>本周，一些材料也因美联储加息信号、美元升值以及中国减缓通胀的努力而受到打击。这个亚洲国家表示，将及时从国家储备中释放金属，以推动价格回到正常范围，加大力度为大宗商品的飙升降温。</blockquote></p><p> “Risk-off is front and center thanks to the hawkish words from the Fed, which came on the back of the Chinese government-led directives over prior weeks,” said Michael Cuoco, head of hedge-fund sales for metals and bulk materials at StoneX Group. “Central-bank stimulus helped the markets gather steam in the spring of 2020, and now there is a bit of a macro reset.”</p><p><blockquote>StoneX集团金属和大宗材料对冲基金销售主管迈克尔·库柯(Michael Cuoco)表示：“由于美联储在前几周中国政府主导的指令的支持下发表了鹰派言论，避险情绪占据了主导地位。”“央行的刺激措施帮助市场在2020年春季积聚动力，现在宏观上出现了一些重置。”</blockquote></p><p> Even some of the markets that are clearly benefiting from the reopening are seeing a pullback, with copper heading for its worst week in more than a year. A big backwardation in many commodities and seasonality accounts for some of the recent slump as futures contracts roll over, while improving weather is hurting prices of many agricultural products.</p><p><blockquote>甚至一些明显受益于重新开放的市场也出现了回调，铜价将迎来一年多来最糟糕的一周。随着期货合约的展期，许多大宗商品的大幅现货溢价和季节性是近期暴跌的部分原因，而天气的改善正在损害许多农产品的价格。</blockquote></p><p> Soybean futures in Chicago bounced more than 2% on Friday, but are still heading for a weekly loss of about 11%, the worst performance in seven years. Corn and wheat also recovered a part of Thursday’s declines.Base metals were mixed following losses on Thursday. Copper fell 0.8% on the London Metal Exchange and headed for its biggest weekly loss since March 2020. Nickel rose 0.9%. Iron ore slid 1.2% in Singapore.Precious metals rebounded, after substantial declines. Gold added 1.1%, while palladium rose about 3% after Thursday’s 11% slump.Chinese futures caught up with the overnight rout. Rapeseed and soybean oil slid, and copper and zinc dropped.</p><p><blockquote>芝加哥大豆期货周五反弹逾2%，但仍向周跌幅约11%迈进，创七年来最差表现。玉米和小麦也收复了周四的部分跌幅。基本金属在周四下跌后涨跌互现。伦敦金属交易所铜价下跌0.8%，创2020年3月以来最大单周跌幅。镍涨0.9%。新加坡铁矿石下跌1.2%。贵金属在大幅下跌后反弹。黄金上涨1.1%，钯金在周四暴跌11%后上涨约3%。中国期货赶上了隔夜的溃败。菜籽、豆油下滑，铜、锌走低。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/amid-talk-supercycle-commodities-wipe-181326277.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/amid-talk-supercycle-commodities-wipe-181326277.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133723804","content_text":"(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the year and several more are close to doing so.\nSoybean futures have erased their 2021 advance, sliding more than 20% from an eight-year high reached in May, while corn and wheat have also tumbled. The Bloomberg Grains Spot Subindex slid the most since 2009 on Thursday, before edging higher on Friday as markets recovered some losses. Other commodities that have seen their big rallies evaporate include platinum, while once-surging nickel, sugar and even lumber have faltered.\nThe fact that some markets are falling while others -- including crude oil and tin -- are holding gains underscores how unevenly the complex is responding to economies reopening and expanding once again. While those materials have climbed on strong demand fundamentals, others face their own unique headwinds, such as an easing supply worries in soybeans and monetary policy uncertainty in the case of gold and silver.\nSome materials also took a hit this week on the Federal Reserve’s signals for interest-rate increases, a rising dollar and China’s efforts to slow inflation. The Asian country has said it will release metals from state reserves in a timely manner to push prices back to a normal range, ramping up efforts to cool the surge in commodities.\n“Risk-off is front and center thanks to the hawkish words from the Fed, which came on the back of the Chinese government-led directives over prior weeks,” said Michael Cuoco, head of hedge-fund sales for metals and bulk materials at StoneX Group. “Central-bank stimulus helped the markets gather steam in the spring of 2020, and now there is a bit of a macro reset.”\nEven some of the markets that are clearly benefiting from the reopening are seeing a pullback, with copper heading for its worst week in more than a year. A big backwardation in many commodities and seasonality accounts for some of the recent slump as futures contracts roll over, while improving weather is hurting prices of many agricultural products.\nSoybean futures in Chicago bounced more than 2% on Friday, but are still heading for a weekly loss of about 11%, the worst performance in seven years. Corn and wheat also recovered a part of Thursday’s declines.Base metals were mixed following losses on Thursday. Copper fell 0.8% on the London Metal Exchange and headed for its biggest weekly loss since March 2020. Nickel rose 0.9%. Iron ore slid 1.2% in Singapore.Precious metals rebounded, after substantial declines. Gold added 1.1%, while palladium rose about 3% after Thursday’s 11% slump.Chinese futures caught up with the overnight rout. Rapeseed and soybean oil slid, and copper and zinc dropped.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1559,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169892466,"gmtCreate":1623825983655,"gmtModify":1631893585280,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"oooo","listText":"oooo","text":"oooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169892466","repostId":"2143753069","repostType":4,"isVote":1,"tweetType":1,"viewCount":1706,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169804487,"gmtCreate":1623825431549,"gmtModify":1631893585293,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169804487","repostId":"1130157766","repostType":4,"isVote":1,"tweetType":1,"viewCount":1949,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169802043,"gmtCreate":1623825299882,"gmtModify":1631893585305,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"amazing","listText":"amazing","text":"amazing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169802043","repostId":"1114926830","repostType":4,"isVote":1,"tweetType":1,"viewCount":1974,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169808425,"gmtCreate":1623825228967,"gmtModify":1631893585317,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"hmmm","listText":"hmmm","text":"hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169808425","repostId":"1180911259","repostType":4,"repost":{"id":"1180911259","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623765092,"share":"https://www.laohu8.com/m/news/1180911259?lang=zh_CN&edition=full","pubTime":"2021-06-15 21:51","market":"us","language":"en","title":"Blockchain stocks mixed in morning trading<blockquote>区块链股票早盘涨跌互现</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180911259","media":"Tiger Newspress","summary":"(June 15) Blockchain stocks mixed in morning trading.","content":"<p>(June&nbsp;15)&nbsp;Blockchain&nbsp;stocks&nbsp;mixed&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>（6月15日）区块链股早盘涨跌不一。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2add04248d60bb69c41121475aca5e34\" tg-width=\"283\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nBlockchain stocks mixed in morning trading<blockquote>区块链股票早盘涨跌互现</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-15 21:51</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(June&nbsp;15)&nbsp;Blockchain&nbsp;stocks&nbsp;mixed&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>（6月15日）区块链股早盘涨跌不一。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2add04248d60bb69c41121475aca5e34\" tg-width=\"283\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTBT":"Bit Digital, Inc.","RIOT":"Riot Platforms","CAN":"嘉楠科技","EBON":"亿邦国际","MARA":"MARA Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180911259","content_text":"(June 15) Blockchain stocks mixed in morning trading.","news_type":1,"symbols_score_info":{"EBON":0.9,"BTBT":0.9,"RIOT":0.9,"MARA":0.9,"CAN":0.9}},"isVote":1,"tweetType":1,"viewCount":1829,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169808989,"gmtCreate":1623825189241,"gmtModify":1631893585330,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"hmmm","listText":"hmmm","text":"hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169808989","repostId":"2143765102","repostType":4,"isVote":1,"tweetType":1,"viewCount":2063,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169803617,"gmtCreate":1623825121139,"gmtModify":1631893585346,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"ooo","listText":"ooo","text":"ooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169803617","repostId":"1141264092","repostType":4,"repost":{"id":"1141264092","kind":"news","pubTimestamp":1623811561,"share":"https://www.laohu8.com/m/news/1141264092?lang=zh_CN&edition=full","pubTime":"2021-06-16 10:46","market":"us","language":"en","title":"Is Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141264092","media":"seekingalpha","summary":"Summary\n\nFSR is up 72% since my bullish call just a month ago.\nWith that sort of move, caution is wa","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>FSR is up 72% since my bullish call just a month ago.</li>  <li>With that sort of move, caution is warranted on further gains.</li>  <li>New fundamental developments lay out the future path for Fisker.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8cfc5757fb9bcd2dad4f529e916092c\" tg-width=\"768\" tg-height=\"512\"><span>jonathanfilskov-photography/iStock via Getty Images</span></p><p><blockquote><ul><li>自一个月前我看涨看涨期权以来，FSR已上涨72%。</li><li>有了这样的举措，进一步上涨需要谨慎。</li><li>新的基本发展为菲斯克规划了未来的道路。</li></ul><p class=\"t-img-caption\"><span>jonathanfilskov—摄影/iStock来自Getty Images</span></p></blockquote></p><p> The electric vehicle space has been, let’s say, volatile over the past year or so. OG&nbsp;<b>Tesla</b>(TSLA) continues to dwarf all other comers in terms of market cap, but there are numerous new competitors, many of which are so new, they don’t even have any revenue yet. One such example is the reincarnated&nbsp;<b>Fisker Inc.</b>(FSR), which is founder Henrik Fisker’s second go at making an electric automaker.</p><p><blockquote>可以说，电动汽车领域在过去一年左右的时间里一直不稳定。OG<b>特斯拉</b>(TSLA)在市值方面继续让所有其他竞争者相形见绌，但也有许多新的竞争对手，其中许多都是如此之新，他们甚至还没有任何收入。一个这样的例子就是转世<b>菲斯克公司。</b>(FSR)，这是创始人亨里克·菲斯克(Henrik Fisker)第二次尝试打造电动汽车制造商。</blockquote></p><p> I wrote apieceon Fisker about a month ago when the share price was $10.69, saying it was a great time to buy. Shares are 72% higher than that today – a<i>massive</i>move in the space of four weeks – but such is the nature of the game in electric vehicles. Up 72%, the big question is, do you continue to hold? In this case, I think the answer is “no”, but with some caveats.</p><p><blockquote>大约一个月前，当股价为10.69美元时，我在Fisker上写了一篇文章，说现在是买入的好时机。股价比今天高出72%-a<i>巨大的</i>在四个星期的时间内移动——但这就是电动汽车游戏的本质。涨72%，大问题是，你继续持有吗？在这种情况下，我认为答案是“不”，但有一些警告。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b7e34a03823eba6302e3194baa808ce\" tg-width=\"640\" tg-height=\"615\"><span>Source: StockCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：股票图表</span></p></blockquote></p><p> First, let’s take a look at the chart, which highlights just how volatile this thing really is. Prior support in the low-$14s was lost during the last downturn, and the stock eventually bottomed at $9.61. Since then, shares have<i>doubled</i>, and we’ve seen a complete reset in terms of sentiment for Fisker. One thing you must understand is that Fisker and other zero-revenue EV makers trade on momentum and sentiment rather than fundamentals, so you must be nimble.</p><p><blockquote>首先，让我们看一下图表，它强调了这件事的波动性。在上次低迷期间失去了之前14美元低点的支撑，该股最终跌至9.61美元。此后，股票<i>加倍</i>，我们已经看到菲斯克的情绪完全重置。你必须明白的一件事是，菲斯克和其他零收入电动汽车制造商根据势头和情绪而不是基本面进行交易，所以你必须灵活。</blockquote></p><p> I would look for that low-$14 area to hold as support on the next pullback, but I’ll also note that it isn’t all that strong, having failed miserably last time there was a selloff. But if the stock is going to bounce, that will likely be the area it will happen.</p><p><blockquote>我会寻找14美元的低点区域作为下一次回调的支撑，但我也会注意到，它并没有那么强，上次抛售时惨遭失败。但如果股票要反弹，那很可能就是反弹的区域。</blockquote></p><p> I’ll also note the PPO is very overbought, and is very close to the same levels where prior rallies have lost steam and eventually rolled over. That means the odds of a further rally from here are greatly diminishing, as the bulls have made a Herculean push already, and there are signs the push is ending, at least temporarily.</p><p><blockquote>我还会注意到PPO非常超买，非常接近之前反弹失去动力并最终逆转的水平。这意味着从这里进一步反弹的可能性大大降低，因为多头已经做出了巨大的推动，而且有迹象表明这种推动正在结束，至少是暂时的。</blockquote></p><p> The 14-day RSI is showing similar behavior, as it is rolling over after reaching extreme overbought conditions. The point of all of this is that this stock has doubled in the space of a month, and the rally looks tired. I don’t see a reasonable path meaningfully higher here, but in the EV space, anything can happen. But the bottom line is that the rally looks tired to me, and I think the most prudent course of action is to take profits and wait for a lower re-entry.</p><p><blockquote>14天RSI也表现出类似的行为，因为它在达到极端超买条件后正在滚动。所有这一切的要点是，这只股票在一个月内翻了一番，而且涨势看起来很累。我在这里看不到有意义的更高的合理路径，但在电动汽车领域，任何事情都可能发生。但最重要的是，对我来说，反弹看起来很累，我认为最谨慎的做法是获利了结并等待更低的重新入场。</blockquote></p><p> <b>New developments</b></p><p><blockquote><b>新发展</b></blockquote></p><p> There have been some interesting developments since my last update on Fisker, and ones that have the potential to drive the share price over time.</p><p><blockquote>自从我上次更新菲斯克以来，出现了一些有趣的发展，随着时间的推移，这些发展有可能推动股价上涨。</blockquote></p><p> First up, short interest in Fisker is soaring, and after the numerous highly-shorted stocks we’ve seen go to the moon this year, that’s worth noting. Below is Fisker’s short interest for reference.</p><p><blockquote>首先，对菲斯克的空头兴趣正在飙升，在我们今年看到众多被高度做空的股票登上月球之后，这一点值得注意。以下是菲斯克的空头权益，供参考。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fd732eb0644d9370ff55d207057d6485\" tg-width=\"640\" tg-height=\"364\"><span>Source: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> Short interest has roughly quadrupled since February, and is rising all the time. The kinds of rallies that we’ve seen in Fisker can cause short squeezes because shorts on the wrong side of a parabolic rally can often panic buy to cover their shorts, leading to a short squeeze.</p><p><blockquote>自二月份以来，空头兴趣大约翻了两番，并且一直在上升。我们在菲斯克看到的这种反弹可能会导致空头挤压，因为抛物线反弹错误一侧的空头通常会恐慌性买入以回补空头，从而导致空头挤压。</blockquote></p><p> Fisker’s current rally lacks the volume of a short squeeze, so I firmly believe this rally is not a result of high short interest, but is instead buyers just buying the stock. If shorts throw in the towel, Fisker could squeeze a lot higher than it is today. To be clear, I’m not saying Fisker is the next short squeeze, but what I am saying is that 45M shares short is roughly seven days’ worth of normal volume, so it’s significant. I certainly also would not short Fisker at these levels for that reason.</p><p><blockquote>菲斯克目前的反弹缺乏轧空量，因此我坚信这次反弹并不是空头兴趣高的结果，而是买家只是购买该股票。如果空头认输，菲斯克的股价可能会比今天高得多。需要明确的是，我并不是说菲斯克是下一个轧空者，但我想说的是，4500万股空头大约相当于7天的正常交易量，因此意义重大。出于这个原因，我当然也不会在这些水平上做空菲斯克。</blockquote></p><p> In short, I do not believe Fisker is the next short squeeze candidate because squeezes usually occur when a stock is at or near a top, and thus most or all short sellers are underwater. Fisker isn't anywhere close to its former high, and given how tired the rally looks today, I see the odds of that occurring as low.</p><p><blockquote>简而言之，我不认为菲斯克是下一个轧空候选者，因为轧空通常发生在股票处于或接近顶部时，因此大多数或所有卖空者都处于水下。菲斯克远未接近之前的高点，考虑到今天的反弹看起来有多累，我认为发生这种情况的可能性很低。</blockquote></p><p></p><p> From a fundamental perspective, Fisker continues to make progress towards making production a reality of its Ocean SUV, as evidenced in itsQ1 report. The company ended the quarter with $985 million in cash, which is good enough for about 10 quarters at the current run rate; in Q1, the company spent $29 million on operating activities, and $66 million in capex. The company also said the majority of the Ocean has been sourced, which is improving cost visibility as prior questions have become answers.</p><p><blockquote>从基本面角度来看，菲斯克在实现Ocean SUV的生产方面继续取得进展，正如其第一季度报告所证明的那样。该公司本季度末拥有9.85亿美元现金，按照目前的运行速度，这足以维持约10个季度；第一季度，该公司的运营活动支出为2900万美元，资本支出为6600万美元。该公司还表示，大部分海洋已经采购完毕，这提高了成本可见性，因为之前的问题已经成为答案。</blockquote></p><p> I don’t think Fisker has unlimited runway in terms of cash, but it should have enough to get to production of the Ocean, which is still slated for late this year, or early next year. That’s very important because Fisker needs the cash to start rolling in fairly soon, or further capital raises will be necessary.</p><p><blockquote>我认为菲斯克在现金方面没有无限的跑道，但它应该有足够的资金来生产海洋，该项目仍定于今年年底或明年初。这非常重要，因为菲斯克需要现金尽快开始流入，否则就需要进一步融资。</blockquote></p><p> Fisker says it has 16k reservations for Oceans at this point, but as we know, reservations for new vehicles are very low cost for the consumer, and don’t represent an obligation to buy. Given this, I take them with a grain of salt. But on the plus side, Fisker has done essentially no advertising, and I’d be willing to bet the vast majority of Americans have no idea what Fisker is. That indicates that there may be some legs to the Ocean, but we’ll have to wait and see.</p><p><blockquote>Fisker表示，目前它有16,000辆Oceans预订，但正如我们所知，新车的预订对于消费者来说成本非常低，并且并不代表购买义务。有鉴于此，我对它们持保留态度。但从好的方面来说，菲斯克基本上没有做广告，我敢打赌绝大多数美国人不知道菲斯克是什么。这表明可能有一些腿到海洋，但我们必须拭目以待。</blockquote></p><p> Perhaps most importantly, Fisker has an ambitious plan to produce a sub-$30k EV, currently calledProject PEAR. The company has signed Foxconn to make the vehicle, which won’t be available for another two years or so. But it represents another step towards Fisker becoming more mainstream, and if the company can execute, it could grab big chunks of market share. I’ll caveat that producing sub-$30k EVs is no small task because the batteries are very expensive. This is why others have struggled to do the same thing, and I have no reason to think Fisker won’t struggle as well. However, if the Ocean is a success, and provides the cash to develop PEAR, Fisker could be off to the races. PEAR is just an idea at this point, so don’t get too excited, but Fisker certainly has grand plans.</p><p><blockquote>也许最重要的是，菲斯克有一个雄心勃勃的计划，生产一款售价低于3万美元的电动汽车，目前称为Project Pear。该公司已与富士康签约生产这款车，但这款车还需要两年左右的时间才能上市。但这代表着菲斯克向变得更加主流迈出了又一步，如果该公司能够执行，它可能会抢占大部分市场份额。我要警告的是，生产3万美元以下的电动汽车不是一项小任务，因为电池非常昂贵。这就是为什么其他人也在努力做同样的事情，我没有理由认为菲斯克不会同样努力。然而，如果Ocean取得成功，并提供资金来开发PEAR，菲斯克可能会参加比赛。PEAR目前只是一个想法，所以不要太兴奋，但菲斯克肯定有宏伟的计划。</blockquote></p><p> <b>Valuation remains mixed</b></p><p><blockquote><b>估值仍然好坏参半</b></blockquote></p><p> The tricky thing about valuing startups is that the targets – whether it is revenue or earnings – move all the time. In Fisker’s case, it is apparent that some targets were probably a bit optimistic, especially for revenue.</p><p><blockquote>对初创公司进行估值的棘手之处在于，目标——无论是收入还是盈利——一直在变化。就菲斯克而言，显然有些目标可能有点乐观，尤其是在收入方面。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d52fe37a0a60e26d5c3aba548bd4b0b0\" tg-width=\"640\" tg-height=\"166\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Estimates for the out years have come up slightly in the past month – likely due to analysts building PEAR into projections – but in the past six months, estimates are off by a third in some cases. You have to remember if you buy this stock that Fisker isn’t slated to receive<i>any</i>revenue until next year, and even then, progress will start slowly. But if Fisker does achieve $8+ billion in revenue by 2025, buying the stock today will have proven a prescient move. There are just so many steps between now and then that the ride will be extremely volatile to say the least.</p><p><blockquote>过去一个月，对未来几年的预测略有上升——可能是由于分析师将PEAR纳入预测——但在过去六个月中，在某些情况下，预测下降了三分之一。你必须记住，如果你购买了菲斯克不会收到的这只股票<i>任何</i>收入直到明年，即使到那时，进展也会缓慢开始。但如果菲斯克到2025年确实实现80多亿美元的收入，那么今天购买该股票将被证明是一个有先见之明的举动。从现在到那时有太多的步骤，至少可以说，旅程将会非常不稳定。</blockquote></p><p> That is illustrated nicely by EPS estimates.</p><p><blockquote>每股收益估计很好地说明了这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/730bfe2971ecbf2c150c244c474bd7c7\" tg-width=\"640\" tg-height=\"285\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> EPS is almost certainly going to be negative for at least this year and next year, but if production ramps the way it should for Ocean, Fisker has an outside chance at hitting breakeven in 2023. If scale is achieved, we could see very strong EPS, with 2025 current at $3.72 per share, and 2026 at $4.95. If Ocean succeeds, and Fisker can produce PEAR in sufficient numbers, these estimates could become reality. But you can see the consternation among market participants in that a stock with $5 in EPS five years from now is trading for $18,<i>after</i>doubling in a month. In other words, the share price is pricing in the fact that these estimates are simply guesses at this point. Said another way, if there was some certainty around $5 in EPS in 2026, it would be reasonable to see a multiple of 10 or 12 on that number, or a share price of $50 to $60. We're at a small fraction of that, which is pricing in the massive uncertainty of the company achieving these results.</p><p><blockquote>几乎可以肯定，至少在今年和明年，每股收益将为负值，但如果Ocean的产量按照应有的方式增长，Fisker就有机会在2023年实现盈亏平衡。如果实现规模，我们可能会看到非常强劲的每股收益，2025年目前为每股3.72美元，2026年为每股4.95美元。如果Ocean成功，并且Fisker能够生产足够数量的PEAR，这些估计可能会成为现实。但你可以看到市场参与者的惊愕，因为一只五年后每股收益为5美元的股票现在的交易价格为18美元，<i>之后</i>一个月内翻倍。换句话说，股价反映了这样一个事实，即这些估计目前只是猜测。换句话说，如果2026年每股收益在5美元左右有一定的确定性，那么看到该数字的10或12倍，或者股价为50至60美元是合理的。我们只是其中的一小部分，这反映了公司实现这些结果的巨大不确定性。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> The bottom line on Fisker is that the company is so far from making any sort of meaningful revenue – and even further from profits – that it is mostly a momentum trade as a result. The stock has doubled in the past month, and I see cracks in the rally’s strength, so I think it is once again time to take profits and wait for a lower re-entry price.</p><p><blockquote>菲斯克的底线是，该公司远未获得任何有意义的收入，甚至更远未获得利润，因此它主要是一种动量交易。该股在过去一个月里翻了一番，我看到反弹的力度出现了裂缝，因此我认为是时候再次获利了结并等待更低的重新入场价格了。</blockquote></p><p> I think Fisker has the potential to be a winner in the long-term, but the path to get there is fraught with obstacles. I once again see potential and current price fairly balanced, and for that reason, I’m back to neutral on Fisker.</p><p><blockquote>我认为菲斯克有潜力成为长期赢家，但实现这一目标的道路充满了障碍。我再次看到潜在价格和当前价格相当平衡，因此，我对菲斯克恢复中立。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-16 10:46</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>FSR is up 72% since my bullish call just a month ago.</li>  <li>With that sort of move, caution is warranted on further gains.</li>  <li>New fundamental developments lay out the future path for Fisker.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8cfc5757fb9bcd2dad4f529e916092c\" tg-width=\"768\" tg-height=\"512\"><span>jonathanfilskov-photography/iStock via Getty Images</span></p><p><blockquote><ul><li>自一个月前我看涨看涨期权以来，FSR已上涨72%。</li><li>有了这样的举措，进一步上涨需要谨慎。</li><li>新的基本发展为菲斯克规划了未来的道路。</li></ul><p class=\"t-img-caption\"><span>jonathanfilskov—摄影/iStock来自Getty Images</span></p></blockquote></p><p> The electric vehicle space has been, let’s say, volatile over the past year or so. OG&nbsp;<b>Tesla</b>(TSLA) continues to dwarf all other comers in terms of market cap, but there are numerous new competitors, many of which are so new, they don’t even have any revenue yet. One such example is the reincarnated&nbsp;<b>Fisker Inc.</b>(FSR), which is founder Henrik Fisker’s second go at making an electric automaker.</p><p><blockquote>可以说，电动汽车领域在过去一年左右的时间里一直不稳定。OG<b>特斯拉</b>(TSLA)在市值方面继续让所有其他竞争者相形见绌，但也有许多新的竞争对手，其中许多都是如此之新，他们甚至还没有任何收入。一个这样的例子就是转世<b>菲斯克公司。</b>(FSR)，这是创始人亨里克·菲斯克(Henrik Fisker)第二次尝试打造电动汽车制造商。</blockquote></p><p> I wrote apieceon Fisker about a month ago when the share price was $10.69, saying it was a great time to buy. Shares are 72% higher than that today – a<i>massive</i>move in the space of four weeks – but such is the nature of the game in electric vehicles. Up 72%, the big question is, do you continue to hold? In this case, I think the answer is “no”, but with some caveats.</p><p><blockquote>大约一个月前，当股价为10.69美元时，我在Fisker上写了一篇文章，说现在是买入的好时机。股价比今天高出72%-a<i>巨大的</i>在四个星期的时间内移动——但这就是电动汽车游戏的本质。涨72%，大问题是，你继续持有吗？在这种情况下，我认为答案是“不”，但有一些警告。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b7e34a03823eba6302e3194baa808ce\" tg-width=\"640\" tg-height=\"615\"><span>Source: StockCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：股票图表</span></p></blockquote></p><p> First, let’s take a look at the chart, which highlights just how volatile this thing really is. Prior support in the low-$14s was lost during the last downturn, and the stock eventually bottomed at $9.61. Since then, shares have<i>doubled</i>, and we’ve seen a complete reset in terms of sentiment for Fisker. One thing you must understand is that Fisker and other zero-revenue EV makers trade on momentum and sentiment rather than fundamentals, so you must be nimble.</p><p><blockquote>首先，让我们看一下图表，它强调了这件事的波动性。在上次低迷期间失去了之前14美元低点的支撑，该股最终跌至9.61美元。此后，股票<i>加倍</i>，我们已经看到菲斯克的情绪完全重置。你必须明白的一件事是，菲斯克和其他零收入电动汽车制造商根据势头和情绪而不是基本面进行交易，所以你必须灵活。</blockquote></p><p> I would look for that low-$14 area to hold as support on the next pullback, but I’ll also note that it isn’t all that strong, having failed miserably last time there was a selloff. But if the stock is going to bounce, that will likely be the area it will happen.</p><p><blockquote>我会寻找14美元的低点区域作为下一次回调的支撑，但我也会注意到，它并没有那么强，上次抛售时惨遭失败。但如果股票要反弹，那很可能就是反弹的区域。</blockquote></p><p> I’ll also note the PPO is very overbought, and is very close to the same levels where prior rallies have lost steam and eventually rolled over. That means the odds of a further rally from here are greatly diminishing, as the bulls have made a Herculean push already, and there are signs the push is ending, at least temporarily.</p><p><blockquote>我还会注意到PPO非常超买，非常接近之前反弹失去动力并最终逆转的水平。这意味着从这里进一步反弹的可能性大大降低，因为多头已经做出了巨大的推动，而且有迹象表明这种推动正在结束，至少是暂时的。</blockquote></p><p> The 14-day RSI is showing similar behavior, as it is rolling over after reaching extreme overbought conditions. The point of all of this is that this stock has doubled in the space of a month, and the rally looks tired. I don’t see a reasonable path meaningfully higher here, but in the EV space, anything can happen. But the bottom line is that the rally looks tired to me, and I think the most prudent course of action is to take profits and wait for a lower re-entry.</p><p><blockquote>14天RSI也表现出类似的行为，因为它在达到极端超买条件后正在滚动。所有这一切的要点是，这只股票在一个月内翻了一番，而且涨势看起来很累。我在这里看不到有意义的更高的合理路径，但在电动汽车领域，任何事情都可能发生。但最重要的是，对我来说，反弹看起来很累，我认为最谨慎的做法是获利了结并等待更低的重新入场。</blockquote></p><p> <b>New developments</b></p><p><blockquote><b>新发展</b></blockquote></p><p> There have been some interesting developments since my last update on Fisker, and ones that have the potential to drive the share price over time.</p><p><blockquote>自从我上次更新菲斯克以来，出现了一些有趣的发展，随着时间的推移，这些发展有可能推动股价上涨。</blockquote></p><p> First up, short interest in Fisker is soaring, and after the numerous highly-shorted stocks we’ve seen go to the moon this year, that’s worth noting. Below is Fisker’s short interest for reference.</p><p><blockquote>首先，对菲斯克的空头兴趣正在飙升，在我们今年看到众多被高度做空的股票登上月球之后，这一点值得注意。以下是菲斯克的空头权益，供参考。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fd732eb0644d9370ff55d207057d6485\" tg-width=\"640\" tg-height=\"364\"><span>Source: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> Short interest has roughly quadrupled since February, and is rising all the time. The kinds of rallies that we’ve seen in Fisker can cause short squeezes because shorts on the wrong side of a parabolic rally can often panic buy to cover their shorts, leading to a short squeeze.</p><p><blockquote>自二月份以来，空头兴趣大约翻了两番，并且一直在上升。我们在菲斯克看到的这种反弹可能会导致空头挤压，因为抛物线反弹错误一侧的空头通常会恐慌性买入以回补空头，从而导致空头挤压。</blockquote></p><p> Fisker’s current rally lacks the volume of a short squeeze, so I firmly believe this rally is not a result of high short interest, but is instead buyers just buying the stock. If shorts throw in the towel, Fisker could squeeze a lot higher than it is today. To be clear, I’m not saying Fisker is the next short squeeze, but what I am saying is that 45M shares short is roughly seven days’ worth of normal volume, so it’s significant. I certainly also would not short Fisker at these levels for that reason.</p><p><blockquote>菲斯克目前的反弹缺乏轧空量，因此我坚信这次反弹并不是空头兴趣高的结果，而是买家只是购买该股票。如果空头认输，菲斯克的股价可能会比今天高得多。需要明确的是，我并不是说菲斯克是下一个轧空者，但我想说的是，4500万股空头大约相当于7天的正常交易量，因此意义重大。出于这个原因，我当然也不会在这些水平上做空菲斯克。</blockquote></p><p> In short, I do not believe Fisker is the next short squeeze candidate because squeezes usually occur when a stock is at or near a top, and thus most or all short sellers are underwater. Fisker isn't anywhere close to its former high, and given how tired the rally looks today, I see the odds of that occurring as low.</p><p><blockquote>简而言之，我不认为菲斯克是下一个轧空候选者，因为轧空通常发生在股票处于或接近顶部时，因此大多数或所有卖空者都处于水下。菲斯克远未接近之前的高点，考虑到今天的反弹看起来有多累，我认为发生这种情况的可能性很低。</blockquote></p><p></p><p> From a fundamental perspective, Fisker continues to make progress towards making production a reality of its Ocean SUV, as evidenced in itsQ1 report. The company ended the quarter with $985 million in cash, which is good enough for about 10 quarters at the current run rate; in Q1, the company spent $29 million on operating activities, and $66 million in capex. The company also said the majority of the Ocean has been sourced, which is improving cost visibility as prior questions have become answers.</p><p><blockquote>从基本面角度来看，菲斯克在实现Ocean SUV的生产方面继续取得进展，正如其第一季度报告所证明的那样。该公司本季度末拥有9.85亿美元现金，按照目前的运行速度，这足以维持约10个季度；第一季度，该公司的运营活动支出为2900万美元，资本支出为6600万美元。该公司还表示，大部分海洋已经采购完毕，这提高了成本可见性，因为之前的问题已经成为答案。</blockquote></p><p> I don’t think Fisker has unlimited runway in terms of cash, but it should have enough to get to production of the Ocean, which is still slated for late this year, or early next year. That’s very important because Fisker needs the cash to start rolling in fairly soon, or further capital raises will be necessary.</p><p><blockquote>我认为菲斯克在现金方面没有无限的跑道，但它应该有足够的资金来生产海洋，该项目仍定于今年年底或明年初。这非常重要，因为菲斯克需要现金尽快开始流入，否则就需要进一步融资。</blockquote></p><p> Fisker says it has 16k reservations for Oceans at this point, but as we know, reservations for new vehicles are very low cost for the consumer, and don’t represent an obligation to buy. Given this, I take them with a grain of salt. But on the plus side, Fisker has done essentially no advertising, and I’d be willing to bet the vast majority of Americans have no idea what Fisker is. That indicates that there may be some legs to the Ocean, but we’ll have to wait and see.</p><p><blockquote>Fisker表示，目前它有16,000辆Oceans预订，但正如我们所知，新车的预订对于消费者来说成本非常低，并且并不代表购买义务。有鉴于此，我对它们持保留态度。但从好的方面来说，菲斯克基本上没有做广告，我敢打赌绝大多数美国人不知道菲斯克是什么。这表明可能有一些腿到海洋，但我们必须拭目以待。</blockquote></p><p> Perhaps most importantly, Fisker has an ambitious plan to produce a sub-$30k EV, currently calledProject PEAR. The company has signed Foxconn to make the vehicle, which won’t be available for another two years or so. But it represents another step towards Fisker becoming more mainstream, and if the company can execute, it could grab big chunks of market share. I’ll caveat that producing sub-$30k EVs is no small task because the batteries are very expensive. This is why others have struggled to do the same thing, and I have no reason to think Fisker won’t struggle as well. However, if the Ocean is a success, and provides the cash to develop PEAR, Fisker could be off to the races. PEAR is just an idea at this point, so don’t get too excited, but Fisker certainly has grand plans.</p><p><blockquote>也许最重要的是，菲斯克有一个雄心勃勃的计划，生产一款售价低于3万美元的电动汽车，目前称为Project Pear。该公司已与富士康签约生产这款车，但这款车还需要两年左右的时间才能上市。但这代表着菲斯克向变得更加主流迈出了又一步，如果该公司能够执行，它可能会抢占大部分市场份额。我要警告的是，生产3万美元以下的电动汽车不是一项小任务，因为电池非常昂贵。这就是为什么其他人也在努力做同样的事情，我没有理由认为菲斯克不会同样努力。然而，如果Ocean取得成功，并提供资金来开发PEAR，菲斯克可能会参加比赛。PEAR目前只是一个想法，所以不要太兴奋，但菲斯克肯定有宏伟的计划。</blockquote></p><p> <b>Valuation remains mixed</b></p><p><blockquote><b>估值仍然好坏参半</b></blockquote></p><p> The tricky thing about valuing startups is that the targets – whether it is revenue or earnings – move all the time. In Fisker’s case, it is apparent that some targets were probably a bit optimistic, especially for revenue.</p><p><blockquote>对初创公司进行估值的棘手之处在于，目标——无论是收入还是盈利——一直在变化。就菲斯克而言，显然有些目标可能有点乐观，尤其是在收入方面。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d52fe37a0a60e26d5c3aba548bd4b0b0\" tg-width=\"640\" tg-height=\"166\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Estimates for the out years have come up slightly in the past month – likely due to analysts building PEAR into projections – but in the past six months, estimates are off by a third in some cases. You have to remember if you buy this stock that Fisker isn’t slated to receive<i>any</i>revenue until next year, and even then, progress will start slowly. But if Fisker does achieve $8+ billion in revenue by 2025, buying the stock today will have proven a prescient move. There are just so many steps between now and then that the ride will be extremely volatile to say the least.</p><p><blockquote>过去一个月，对未来几年的预测略有上升——可能是由于分析师将PEAR纳入预测——但在过去六个月中，在某些情况下，预测下降了三分之一。你必须记住，如果你购买了菲斯克不会收到的这只股票<i>任何</i>收入直到明年，即使到那时，进展也会缓慢开始。但如果菲斯克到2025年确实实现80多亿美元的收入，那么今天购买该股票将被证明是一个有先见之明的举动。从现在到那时有太多的步骤，至少可以说，旅程将会非常不稳定。</blockquote></p><p> That is illustrated nicely by EPS estimates.</p><p><blockquote>每股收益估计很好地说明了这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/730bfe2971ecbf2c150c244c474bd7c7\" tg-width=\"640\" tg-height=\"285\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> EPS is almost certainly going to be negative for at least this year and next year, but if production ramps the way it should for Ocean, Fisker has an outside chance at hitting breakeven in 2023. If scale is achieved, we could see very strong EPS, with 2025 current at $3.72 per share, and 2026 at $4.95. If Ocean succeeds, and Fisker can produce PEAR in sufficient numbers, these estimates could become reality. But you can see the consternation among market participants in that a stock with $5 in EPS five years from now is trading for $18,<i>after</i>doubling in a month. In other words, the share price is pricing in the fact that these estimates are simply guesses at this point. Said another way, if there was some certainty around $5 in EPS in 2026, it would be reasonable to see a multiple of 10 or 12 on that number, or a share price of $50 to $60. We're at a small fraction of that, which is pricing in the massive uncertainty of the company achieving these results.</p><p><blockquote>几乎可以肯定，至少在今年和明年，每股收益将为负值，但如果Ocean的产量按照应有的方式增长，Fisker就有机会在2023年实现盈亏平衡。如果实现规模，我们可能会看到非常强劲的每股收益，2025年目前为每股3.72美元，2026年为每股4.95美元。如果Ocean成功，并且Fisker能够生产足够数量的PEAR，这些估计可能会成为现实。但你可以看到市场参与者的惊愕，因为一只五年后每股收益为5美元的股票现在的交易价格为18美元，<i>之后</i>一个月内翻倍。换句话说，股价反映了这样一个事实，即这些估计目前只是猜测。换句话说，如果2026年每股收益在5美元左右有一定的确定性，那么看到该数字的10或12倍，或者股价为50至60美元是合理的。我们只是其中的一小部分，这反映了公司实现这些结果的巨大不确定性。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> The bottom line on Fisker is that the company is so far from making any sort of meaningful revenue – and even further from profits – that it is mostly a momentum trade as a result. The stock has doubled in the past month, and I see cracks in the rally’s strength, so I think it is once again time to take profits and wait for a lower re-entry price.</p><p><blockquote>菲斯克的底线是，该公司远未获得任何有意义的收入，甚至更远未获得利润，因此它主要是一种动量交易。该股在过去一个月里翻了一番，我看到反弹的力度出现了裂缝，因此我认为是时候再次获利了结并等待更低的重新入场价格了。</blockquote></p><p> I think Fisker has the potential to be a winner in the long-term, but the path to get there is fraught with obstacles. I once again see potential and current price fairly balanced, and for that reason, I’m back to neutral on Fisker.</p><p><blockquote>我认为菲斯克有潜力成为长期赢家，但实现这一目标的道路充满了障碍。我再次看到潜在价格和当前价格相当平衡，因此，我对菲斯克恢复中立。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4434973-is-fisker-the-next-short-squeeze\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FSR":"菲斯克"},"source_url":"https://seekingalpha.com/article/4434973-is-fisker-the-next-short-squeeze","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141264092","content_text":"Summary\n\nFSR is up 72% since my bullish call just a month ago.\nWith that sort of move, caution is warranted on further gains.\nNew fundamental developments lay out the future path for Fisker.\n\njonathanfilskov-photography/iStock via Getty Images\nThe electric vehicle space has been, let’s say, volatile over the past year or so. OG Tesla(TSLA) continues to dwarf all other comers in terms of market cap, but there are numerous new competitors, many of which are so new, they don’t even have any revenue yet. One such example is the reincarnated Fisker Inc.(FSR), which is founder Henrik Fisker’s second go at making an electric automaker.\nI wrote apieceon Fisker about a month ago when the share price was $10.69, saying it was a great time to buy. Shares are 72% higher than that today – amassivemove in the space of four weeks – but such is the nature of the game in electric vehicles. Up 72%, the big question is, do you continue to hold? In this case, I think the answer is “no”, but with some caveats.\nSource: StockCharts\nFirst, let’s take a look at the chart, which highlights just how volatile this thing really is. Prior support in the low-$14s was lost during the last downturn, and the stock eventually bottomed at $9.61. Since then, shares havedoubled, and we’ve seen a complete reset in terms of sentiment for Fisker. One thing you must understand is that Fisker and other zero-revenue EV makers trade on momentum and sentiment rather than fundamentals, so you must be nimble.\nI would look for that low-$14 area to hold as support on the next pullback, but I’ll also note that it isn’t all that strong, having failed miserably last time there was a selloff. But if the stock is going to bounce, that will likely be the area it will happen.\nI’ll also note the PPO is very overbought, and is very close to the same levels where prior rallies have lost steam and eventually rolled over. That means the odds of a further rally from here are greatly diminishing, as the bulls have made a Herculean push already, and there are signs the push is ending, at least temporarily.\nThe 14-day RSI is showing similar behavior, as it is rolling over after reaching extreme overbought conditions. The point of all of this is that this stock has doubled in the space of a month, and the rally looks tired. I don’t see a reasonable path meaningfully higher here, but in the EV space, anything can happen. But the bottom line is that the rally looks tired to me, and I think the most prudent course of action is to take profits and wait for a lower re-entry.\nNew developments\nThere have been some interesting developments since my last update on Fisker, and ones that have the potential to drive the share price over time.\nFirst up, short interest in Fisker is soaring, and after the numerous highly-shorted stocks we’ve seen go to the moon this year, that’s worth noting. Below is Fisker’s short interest for reference.\nSource: YCharts\nShort interest has roughly quadrupled since February, and is rising all the time. The kinds of rallies that we’ve seen in Fisker can cause short squeezes because shorts on the wrong side of a parabolic rally can often panic buy to cover their shorts, leading to a short squeeze.\nFisker’s current rally lacks the volume of a short squeeze, so I firmly believe this rally is not a result of high short interest, but is instead buyers just buying the stock. If shorts throw in the towel, Fisker could squeeze a lot higher than it is today. To be clear, I’m not saying Fisker is the next short squeeze, but what I am saying is that 45M shares short is roughly seven days’ worth of normal volume, so it’s significant. I certainly also would not short Fisker at these levels for that reason.\nIn short, I do not believe Fisker is the next short squeeze candidate because squeezes usually occur when a stock is at or near a top, and thus most or all short sellers are underwater. Fisker isn't anywhere close to its former high, and given how tired the rally looks today, I see the odds of that occurring as low.\nFrom a fundamental perspective, Fisker continues to make progress towards making production a reality of its Ocean SUV, as evidenced in itsQ1 report. The company ended the quarter with $985 million in cash, which is good enough for about 10 quarters at the current run rate; in Q1, the company spent $29 million on operating activities, and $66 million in capex. The company also said the majority of the Ocean has been sourced, which is improving cost visibility as prior questions have become answers.\nI don’t think Fisker has unlimited runway in terms of cash, but it should have enough to get to production of the Ocean, which is still slated for late this year, or early next year. That’s very important because Fisker needs the cash to start rolling in fairly soon, or further capital raises will be necessary.\nFisker says it has 16k reservations for Oceans at this point, but as we know, reservations for new vehicles are very low cost for the consumer, and don’t represent an obligation to buy. Given this, I take them with a grain of salt. But on the plus side, Fisker has done essentially no advertising, and I’d be willing to bet the vast majority of Americans have no idea what Fisker is. That indicates that there may be some legs to the Ocean, but we’ll have to wait and see.\nPerhaps most importantly, Fisker has an ambitious plan to produce a sub-$30k EV, currently calledProject PEAR. The company has signed Foxconn to make the vehicle, which won’t be available for another two years or so. But it represents another step towards Fisker becoming more mainstream, and if the company can execute, it could grab big chunks of market share. I’ll caveat that producing sub-$30k EVs is no small task because the batteries are very expensive. This is why others have struggled to do the same thing, and I have no reason to think Fisker won’t struggle as well. However, if the Ocean is a success, and provides the cash to develop PEAR, Fisker could be off to the races. PEAR is just an idea at this point, so don’t get too excited, but Fisker certainly has grand plans.\nValuation remains mixed\nThe tricky thing about valuing startups is that the targets – whether it is revenue or earnings – move all the time. In Fisker’s case, it is apparent that some targets were probably a bit optimistic, especially for revenue.\nSource:Seeking Alpha\nEstimates for the out years have come up slightly in the past month – likely due to analysts building PEAR into projections – but in the past six months, estimates are off by a third in some cases. You have to remember if you buy this stock that Fisker isn’t slated to receiveanyrevenue until next year, and even then, progress will start slowly. But if Fisker does achieve $8+ billion in revenue by 2025, buying the stock today will have proven a prescient move. There are just so many steps between now and then that the ride will be extremely volatile to say the least.\nThat is illustrated nicely by EPS estimates.\nSource:Seeking Alpha\nEPS is almost certainly going to be negative for at least this year and next year, but if production ramps the way it should for Ocean, Fisker has an outside chance at hitting breakeven in 2023. If scale is achieved, we could see very strong EPS, with 2025 current at $3.72 per share, and 2026 at $4.95. If Ocean succeeds, and Fisker can produce PEAR in sufficient numbers, these estimates could become reality. But you can see the consternation among market participants in that a stock with $5 in EPS five years from now is trading for $18,afterdoubling in a month. In other words, the share price is pricing in the fact that these estimates are simply guesses at this point. Said another way, if there was some certainty around $5 in EPS in 2026, it would be reasonable to see a multiple of 10 or 12 on that number, or a share price of $50 to $60. We're at a small fraction of that, which is pricing in the massive uncertainty of the company achieving these results.\nFinal thoughts\nThe bottom line on Fisker is that the company is so far from making any sort of meaningful revenue – and even further from profits – that it is mostly a momentum trade as a result. The stock has doubled in the past month, and I see cracks in the rally’s strength, so I think it is once again time to take profits and wait for a lower re-entry price.\nI think Fisker has the potential to be a winner in the long-term, but the path to get there is fraught with obstacles. I once again see potential and current price fairly balanced, and for that reason, I’m back to neutral on Fisker.","news_type":1,"symbols_score_info":{"FSR":0.9}},"isVote":1,"tweetType":1,"viewCount":2148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169142193,"gmtCreate":1623824094112,"gmtModify":1631893585355,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"oooo","listText":"oooo","text":"oooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169142193","repostId":"1182329477","repostType":4,"isVote":1,"tweetType":1,"viewCount":2337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160002809,"gmtCreate":1623765724701,"gmtModify":1631893585369,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"😀😀😀","listText":"😀😀😀","text":"😀😀😀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/160002809","isVote":1,"tweetType":1,"viewCount":1763,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138888012,"gmtCreate":1621926581836,"gmtModify":1631893585380,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/138888012","repostId":"1110970098","repostType":4,"repost":{"id":"1110970098","kind":"news","pubTimestamp":1621926395,"share":"https://www.laohu8.com/m/news/1110970098?lang=zh_CN&edition=full","pubTime":"2021-05-25 15:06","market":"us","language":"en","title":"Dump Nio And Buy Tesla, Says Cramer<blockquote>克莱默表示，抛售蔚来并购买特斯拉</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1110970098","media":"benzinga","summary":"CNBC host Jim Cramer has advised investors to sell their shares in Chinese electric vehicle maker Nio Inc. and buy shares in Tesla Inc. instead.What Happened: On the CNBC “Mad Money\" lightning round,Cramer saidinvestors in Nio should be switching to Tesla, as it is the “single best time” to buy shares in the Elon Musk-led company.“Remember the piece that we did with Larry Williams... a couple weeks ago which said this is the single best time to buy Tesla, right here, right now? That’s what you’r","content":"<p><div> CNBC host Jim Cramer has advised investors to sell their shares in Chinese electric vehicle maker Nio Inc. and buy shares in Tesla Inc. instead.What Happened: On the CNBC “Mad Money\" lightning round,...</p><p><blockquote><div>CNBC主持人吉姆·克莱默建议投资者出售中国电动汽车制造商蔚来的股票，转而购买特斯拉公司的股票。发生了什么：在美国消费者新闻与商业频道的“疯狂金钱”闪电回合中，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">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>Dump Nio And Buy Tesla, Says Cramer<blockquote>克莱默表示，抛售蔚来并购买特斯拉</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\">\nDump Nio And Buy Tesla, Says Cramer<blockquote>克莱默表示，抛售蔚来并购买特斯拉</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-25 15:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> CNBC host Jim Cramer has advised investors to sell their shares in Chinese electric vehicle maker Nio Inc. and buy shares in Tesla Inc. instead.What Happened: On the CNBC “Mad Money\" lightning round,...</p><p><blockquote><div>CNBC主持人吉姆·克莱默建议投资者出售中国电动汽车制造商蔚来的股票，转而购买特斯拉公司的股票。发生了什么：在美国消费者新闻与商业频道的“疯狂金钱”闪电回合中，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">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/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">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":{"TSLA":"特斯拉","NIO":"蔚来"},"source_url":"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110970098","content_text":"CNBC host Jim Cramer has advised investors to sell their shares in Chinese electric vehicle maker Nio Inc. and buy shares in Tesla Inc. instead.What Happened: On the CNBC “Mad Money\" lightning round,Cramer saidinvestors in Nio should be switching to Tesla, as it is the “single best time” to buy shares in the Elon Musk-led company.“Remember the piece that we did with Larry Williams... a couple weeks ago which said this is the single best time to buy Tesla, right here, right now? That’s what you’re going to do tomorrow,” Cramer said.In January, Cramer had called Nio the “hottest” Chinese stock, especially with the downfall of Alibaba Group Holdings Inc., and as investors looked for the next Tesla.Why It Matters:Tesla’s stock hit a 52-week high of $900.40 in late January, but is down 14% year-to-date.Of late, Tesla has been facing rough weather in China - its second largest market - due tosafety issuesandmilitary spy noise. Tesla has also halted plans to expand its Gigafactory in Shanghai due to the strained U.S.-China relations, it wasreportedearlier this month.Nio, which targets the premium EV segment, relies on service offerings such asbattery-as-a-serviceto make an impact on customers in China.Nio plans to commercially launch the ET7, its first-ever EV sedan, in the first quarter of 2022. Earlier this month, Niounveiledits ambitious plan to enter the Norway electric vehicle market for its first overseas foray.Nio’s stock touched a 52-week high of $66.99 in January this year, but is down 26.4% for the year-to-date period.Price Action: Tesla shares closed 4.4% higher in Monday’s trading at $606.44, while Nio shares closed 5.4% higher at $35.89.","news_type":1,"symbols_score_info":{"TSLA":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133532088,"gmtCreate":1621765992144,"gmtModify":1634186694539,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"hahhaahahaha&nbsp;📉","listText":"hahhaahahaha&nbsp;📉","text":"hahhaahahaha 📉","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/133532088","isVote":1,"tweetType":1,"viewCount":869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106485559,"gmtCreate":1620139556171,"gmtModify":1634207515896,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"😶😳😐","listText":"😶😳😐","text":"😶😳😐","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/106485559","repostId":"1153949411","repostType":4,"isVote":1,"tweetType":1,"viewCount":1037,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103469042,"gmtCreate":1619802010786,"gmtModify":1634209805545,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"upppp","listText":"upppp","text":"upppp","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103469042","repostId":"1142063705","repostType":4,"isVote":1,"tweetType":1,"viewCount":769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103460657,"gmtCreate":1619801944579,"gmtModify":1634209806006,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"😶😐😶","listText":"😶😐😶","text":"😶😐😶","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103460657","repostId":"1186088353","repostType":4,"isVote":1,"tweetType":1,"viewCount":882,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103460918,"gmtCreate":1619801913234,"gmtModify":1634209806348,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"😳😳😳","listText":"😳😳😳","text":"😳😳😳","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/103460918","repostId":"1146129324","repostType":4,"repost":{"id":"1146129324","kind":"news","pubTimestamp":1619795610,"share":"https://www.laohu8.com/m/news/1146129324?lang=zh_CN&edition=full","pubTime":"2021-04-30 23:13","market":"us","language":"en","title":"1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146129324","media":"Motley Fool","summary":"Electric-car companyTeslahas now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle  pioneer is on the right track in terms of profitability.The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter fro","content":"<p>Electric-car company<b>Tesla</b>(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.</p><p><blockquote>电动汽车公司<b>特斯拉</b>（纳斯达克：TSLA）现已连续七个季度盈利。特斯拉第一季度管理的AGAAP净收入为4.38亿美元，高于一年前的1600万美元。至少乍一看，这家电动汽车（EV）先驱在盈利能力方面似乎走在正确的轨道上。</blockquote></p><p> The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.</p><p><blockquote>问题是这些利润并不是真正来自特斯拉销售的汽车。该公司目前每个季度都从销售监管信用中获得数亿美元的净利润，这是其他汽车制造商没有生产足够的零排放汽车来满足监管要求的副作用。</blockquote></p><p> Regulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.</p><p><blockquote>第一季度监管信贷销售额总计5.18亿美元，占特斯拉全部利润甚至部分利润。前几个季度也是如此。事实上，在从特斯拉净利润中收回监管信贷后，该公司已连续六个季度不盈利。</blockquote></p><p> Tesla's bottom line got an additional boost in the first quarter from a gain onthe sale of<b>Bitcoin</b>to the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:</p><p><blockquote>特斯拉第一季度的利润因出售<b>比特币</b>高达1.01亿美元，这表现为成本的降低。当排除监管信贷和比特币收益时，情况看起来并不那么乐观：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0906160cab581f4c8a599b7d0965d34\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> DATA SOURCE: TESLA. CHART BY AUTHOR.</p><p><blockquote>数据来源：特斯拉。作者图表。</blockquote></p><p> There's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?</p><p><blockquote>毫无疑问，特斯拉的增长令人印象深刻，但毫无疑问，制造和销售汽车的核心业务并未盈利。特斯拉投资者需要问自己的问题是：如果特斯拉现在没有盈利，当美国电动汽车几乎没有竞争时，当传统汽车制造商的大量竞争到来时会发生什么？</blockquote></p><p> A ton of competition is coming</p><p><blockquote>大量的竞争即将到来</blockquote></p><p> Tesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.</p><p><blockquote>特斯拉的品牌拥有狂热的追随者，因此无论其他选择如何，有些人都会购买特斯拉汽车。但对大多数人来说，情况不太可能如此。</blockquote></p><p> The number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.<b>General Motors</b>(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.</p><p><blockquote>未来几年，美国可供购买的电动汽车数量将呈爆炸式增长。<b>通用汽车</b>（纽约证券交易所股票代码：GM）计划到2025年在全球推出30款电动汽车，其中三分之二将在北美销售。该公司的目标是到2025年在北美每年销售100万辆电动汽车。</blockquote></p><p> Those models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.</p><p><blockquote>这些车型包括该公司GMC悍马和雪佛兰索罗德皮卡的电动版本。特斯拉拥有忠实的客户群，但通用汽车也是如此。多年来一直购买通用汽车卡车的人在决定转向电动汽车时可能会坚持使用通用汽车。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c651279799dfdf96552379a7b5d448a9\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> IMAGE SOURCE: GM.</p><p><blockquote>图片来源：通用汽车。</blockquote></p><p> <b>Ford</b>(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.</p><p><blockquote><b>福特</b>（纽约证券交易所股票代码：F）也在向电动汽车投入资源，到2025年为电动和自动驾驶汽车拨款290亿美元。该公司的计划包括F-150皮卡车的电动版本，预计将于2022年中期投入生产线。鉴于通用和福特的计划，特斯拉要抢走利润丰厚的皮卡市场份额并不容易。</blockquote></p><p> Other car companies have big plans, as well.<b>Volkswagen</b>(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.<b>Toyota</b>(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.</p><p><blockquote>其他汽车公司也有宏伟的计划。<b>大众汽车</b>(OTC：VWAGY)每年已销售超过200,000辆电动汽车，预计今年这一数字将翻一番。该公司的目标是到2025年每年销售约200万辆电动汽车，并预计到2030年推出70款电动汽车车型。<b>丰田</b>(NYSE：TM)将在2025年之前推出15款新电动汽车，其中一些将属于新的丰田bZ子品牌。这样的例子不胜枚举。</blockquote></p><p> Not only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.</p><p><blockquote>所有这些电动汽车不仅将为消费者提供特斯拉之外的一系列选择，而且随着其他汽车制造商生产越来越多的电动汽车，它们还将剥夺特斯拉的监管信贷收入。</blockquote></p><p> None of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.</p><p><blockquote>这并不是说特斯拉不能在一个面临更多竞争的世界中取得成功。但每年盈利都会变得越来越困难。</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>1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</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\">\n1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</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\">2021-04-30 23:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Electric-car company<b>Tesla</b>(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.</p><p><blockquote>电动汽车公司<b>特斯拉</b>（纳斯达克：TSLA）现已连续七个季度盈利。特斯拉第一季度管理的AGAAP净收入为4.38亿美元，高于一年前的1600万美元。至少乍一看，这家电动汽车（EV）先驱在盈利能力方面似乎走在正确的轨道上。</blockquote></p><p> The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.</p><p><blockquote>问题是这些利润并不是真正来自特斯拉销售的汽车。该公司目前每个季度都从销售监管信用中获得数亿美元的净利润，这是其他汽车制造商没有生产足够的零排放汽车来满足监管要求的副作用。</blockquote></p><p> Regulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.</p><p><blockquote>第一季度监管信贷销售额总计5.18亿美元，占特斯拉全部利润甚至部分利润。前几个季度也是如此。事实上，在从特斯拉净利润中收回监管信贷后，该公司已连续六个季度不盈利。</blockquote></p><p> Tesla's bottom line got an additional boost in the first quarter from a gain onthe sale of<b>Bitcoin</b>to the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:</p><p><blockquote>特斯拉第一季度的利润因出售<b>比特币</b>高达1.01亿美元，这表现为成本的降低。当排除监管信贷和比特币收益时，情况看起来并不那么乐观：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0906160cab581f4c8a599b7d0965d34\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> DATA SOURCE: TESLA. CHART BY AUTHOR.</p><p><blockquote>数据来源：特斯拉。作者图表。</blockquote></p><p> There's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?</p><p><blockquote>毫无疑问，特斯拉的增长令人印象深刻，但毫无疑问，制造和销售汽车的核心业务并未盈利。特斯拉投资者需要问自己的问题是：如果特斯拉现在没有盈利，当美国电动汽车几乎没有竞争时，当传统汽车制造商的大量竞争到来时会发生什么？</blockquote></p><p> A ton of competition is coming</p><p><blockquote>大量的竞争即将到来</blockquote></p><p> Tesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.</p><p><blockquote>特斯拉的品牌拥有狂热的追随者，因此无论其他选择如何，有些人都会购买特斯拉汽车。但对大多数人来说，情况不太可能如此。</blockquote></p><p> The number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.<b>General Motors</b>(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.</p><p><blockquote>未来几年，美国可供购买的电动汽车数量将呈爆炸式增长。<b>通用汽车</b>（纽约证券交易所股票代码：GM）计划到2025年在全球推出30款电动汽车，其中三分之二将在北美销售。该公司的目标是到2025年在北美每年销售100万辆电动汽车。</blockquote></p><p> Those models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.</p><p><blockquote>这些车型包括该公司GMC悍马和雪佛兰索罗德皮卡的电动版本。特斯拉拥有忠实的客户群，但通用汽车也是如此。多年来一直购买通用汽车卡车的人在决定转向电动汽车时可能会坚持使用通用汽车。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c651279799dfdf96552379a7b5d448a9\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> IMAGE SOURCE: GM.</p><p><blockquote>图片来源：通用汽车。</blockquote></p><p> <b>Ford</b>(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.</p><p><blockquote><b>福特</b>（纽约证券交易所股票代码：F）也在向电动汽车投入资源，到2025年为电动和自动驾驶汽车拨款290亿美元。该公司的计划包括F-150皮卡车的电动版本，预计将于2022年中期投入生产线。鉴于通用和福特的计划，特斯拉要抢走利润丰厚的皮卡市场份额并不容易。</blockquote></p><p> Other car companies have big plans, as well.<b>Volkswagen</b>(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.<b>Toyota</b>(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.</p><p><blockquote>其他汽车公司也有宏伟的计划。<b>大众汽车</b>(OTC：VWAGY)每年已销售超过200,000辆电动汽车，预计今年这一数字将翻一番。该公司的目标是到2025年每年销售约200万辆电动汽车，并预计到2030年推出70款电动汽车车型。<b>丰田</b>(NYSE：TM)将在2025年之前推出15款新电动汽车，其中一些将属于新的丰田bZ子品牌。这样的例子不胜枚举。</blockquote></p><p> Not only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.</p><p><blockquote>所有这些电动汽车不仅将为消费者提供特斯拉之外的一系列选择，而且随着其他汽车制造商生产越来越多的电动汽车，它们还将剥夺特斯拉的监管信贷收入。</blockquote></p><p> None of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.</p><p><blockquote>这并不是说特斯拉不能在一个面临更多竞争的世界中取得成功。但每年盈利都会变得越来越困难。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/30/1-question-tesla-investors-need-to-ask-themselves/\">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":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/04/30/1-question-tesla-investors-need-to-ask-themselves/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146129324","content_text":"Electric-car companyTesla(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.\nThe problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.\nRegulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.\nTesla's bottom line got an additional boost in the first quarter from a gain onthe sale ofBitcointo the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:\n\nDATA SOURCE: TESLA. CHART BY AUTHOR.\nThere's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?\nA ton of competition is coming\nTesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.\nThe number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.General Motors(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.\nThose models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.\n\nIMAGE SOURCE: GM.\nFord(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.\nOther car companies have big plans, as well.Volkswagen(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.Toyota(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.\nNot only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.\nNone of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":868,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103271567,"gmtCreate":1619790897259,"gmtModify":1634209911663,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"😃😃😃","listText":"😃😃😃","text":"😃😃😃","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/103271567","repostId":"1114554743","repostType":4,"repost":{"id":"1114554743","kind":"news","pubTimestamp":1619790825,"share":"https://www.laohu8.com/m/news/1114554743?lang=zh_CN&edition=full","pubTime":"2021-04-30 21:53","market":"us","language":"en","title":"21 brilliant quotes from legendary investor and polymath Charlie Munger<blockquote>传奇投资者和博学的查理·芒格的21句精彩名言</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114554743","media":"Yahoo","summary":"Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May","content":"<p>Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.</p><p><blockquote>伯克希尔哈撒韦公司（BRK-A、BRK-B）年度股东大会将于5月1日在洛杉矶举行，沃伦·巴菲特将与分居一年后的加州长期商业伙伴查理·芒格重聚。</blockquote></p><p> In a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.</p><p><blockquote>在正常的一年里，成千上万的人前往内布拉斯加州的奥马哈朝圣，听90岁的巴菲特和97岁的芒格回答问题几个小时，一边啜饮可口可乐，一边啃喜诗糖果的花生糖。伯克希尔·哈撒韦公司副董事长芒格因其广博的知识和关于商业、投资和生活的格言以及丰富多彩的语言和幽默而受到崇拜。众所周知，在巴菲特说完之后，他经常说：“我没有什么要补充的了。”去年，由于冠状病毒大流行，伯克希尔·哈撒韦公司的年会变成了虚拟会议，巴菲特在没有芒格的空荡荡的CHI健康中心竞技场远距离回答问题。</blockquote></p><p> While Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”</p><p><blockquote>虽然巴菲特是伯克希尔哈撒韦公司更公开、更容易辨认的面孔，但这家标志性企业集团今天的地位是按照芒格的蓝图建立的，即超越所谓的“雪茄屁股”投资，转向“以公平的价格收购出色的企业”。纪念公司成立50周年的股东信。尽管巴菲特将他的成功归功于芒格，但他也强调，他的朋友和商业伙伴让他成为了一个“更好的人”。</blockquote></p><p> And so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:</p><p><blockquote>因此，为了纪念这两位投资传奇人物以及长期合作伙伴和朋友的重聚，我们整理了一些我们最喜欢的芒格名言：</blockquote></p><p> <b>On learning</b></p><p><blockquote><b>论学习</b></blockquote></p><p> “In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“在我的一生中，我从来没有认识过不一直读书的智者（在广泛的主题领域）——没有，零。你会惊讶于沃伦读了多少书——以及我读了多少书。我的孩子们嘲笑我。他们认为我是一本伸出两条腿的书。”<i>——可怜的查理年鉴</i></blockquote></p><p> \"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"<i>—2021 Daily Journal AGM</i></p><p><blockquote>“没有学习的方法，你就像一个踢屁股比赛的独腿人。只是不会很好地发挥作用。”<i>-2021年度日报股东周年大会</i></blockquote></p><p> “I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”<i>—2007 USC Law School Commencement Address</i></p><p><blockquote>“我经常看到一些人在生活中崛起，他们并不是最聪明的，有时甚至不是最勤奋的，但他们是学习机器。他们每天晚上睡觉时都比起床时聪明一点，这很有帮助——尤其是当你还有很长的路要走的时候。”<i>-2007年南加州大学法学院毕业典礼演讲</i></blockquote></p><p> “I think that a life properly lived is just learn, learn, learn all the time.”<i>—2017 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“我认为正确的生活就是不断学习、学习、学习。”<i>—2017年伯克希尔哈撒韦年会</i></blockquote></p><p> “Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“获得世俗的智慧，并相应地调整你的行为。如果你的新行为让你在同龄人中暂时不受欢迎，那就让他们见鬼去吧。”<i>——可怜的查理年鉴</i></blockquote></p><p> “Live within your income and save so that you can invest. Learn what you need to learn.”<b><i>—</i></b><i>Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger</i></p><p><blockquote>“量入为出，存钱，这样你就可以投资。学习你需要学习的东西。”<b><i>—</i></b><i>太对了！：伯克希尔·哈撒韦亿万富翁查理·芒格的幕后花絮</i></blockquote></p><p> <b>On investing and business:</b></p><p><blockquote><b>关于投资和商业：</b></blockquote></p><p> “Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“理解复利的力量和获得复利的难度是理解很多事情的核心和灵魂。”<i>——可怜的查理年鉴</i></blockquote></p><p> “There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —<i>Worldly Wisdom by Charlie Munger 1995 - 1998</i></p><p><blockquote>“对于个人来说，进入一个可以进行一些伟大投资并坐在屁股上的职位有巨大的优势：你向经纪人支付的费用更少。你听到的废话也更少。如果成功的话，政府税收系统每年会给你额外的1、2或3个百分点的复利。”—<i>查理·芒格的《世俗智慧》1995-1998</i></blockquote></p><p> “I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM</p><p><blockquote>“我有一个渔夫朋友，他说，‘我有一个钓鱼成功的简单规则。在有鱼的地方钓鱼。’你想在有便宜货的地方钓鱼。就这么简单。如果你所在的地方钓鱼真的很糟糕，你可能应该寻找另一个地方钓鱼。”—2020 Daily Journal年度股东大会</blockquote></p><p> “Mimicking the herd invites regression to the mean (merely average performance).”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“模仿群体会导致回归均值（仅仅是平均表现）。”<i>——可怜的查理年鉴</i></blockquote></p><p> “The world is full of foolish gamblers and they will not do as well as the patient investors.”<i>—2018 Weekly in Stocks interview</i></p><p><blockquote>“这个世界充满了愚蠢的赌徒，他们不会像耐心的投资者那样做得好。”<i>-2018年每周股票访谈</i></blockquote></p><p> “It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“拿着那么多钱无所事事需要性格。我不是靠追求平庸的机会才有今天的成就的。”<i>——可怜的查理年鉴</i></blockquote></p><p> “I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —<i>2021 Daily Journal AGM</i></p><p><blockquote>“我发现找到四到五项投资要容易得多，而且我有相当合理的机会是正确的，它们远高于平均水平。我认为找到五项比找到100项容易得多。我认为那些主张所有这些多元化的人——顺便说一句，我将其看涨期权为‘去恶化’——这是我从某人那里复制的——我更愿意拥有两到三只我认为我了解一些并且我认为我有优势的股票。”—<i>2021年度日报年度股东大会</i></blockquote></p><p></p><p> \"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"<i>—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department</i></p><p><blockquote>“通常我不会用正式的投影，我不让别人帮我做，因为我不喜欢在桌子上呕吐，但我一直看到他们是用非常愚蠢的方式做的，而且很多人相信他们，不管他们有多愚蠢。在美国，把一个愚蠢的投影放在桌子上是一种有效的销售技巧。”<i>2003年加州大学圣巴巴拉分校经济系Herb Kay本科生讲座</i></blockquote></p><p> \"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management &amp; Business,\" 1994 speech at USC Business School</p><p><blockquote>“我认为我们在投资管理方面陷入如此愚蠢的原因最好地说明了我讲的一个卖渔具的人的故事。我问他，‘天哪，它们是紫色和绿色的。鱼真的会接受这些鱼饵吗？’他说，‘先生，我不卖给鱼。’”-1994年在南加州大学商学院的演讲：“关于投资管理和商业的基本世俗智慧的一课”</blockquote></p><p> “Capitalism without failure is like religion without hell.” —<i>Tao of Charlie Munger</i></p><p><blockquote>“没有失败的资本主义就像没有地狱的宗教。”—<i>查理·芒格之道</i></blockquote></p><p> <b>On mental models and decision-making frameworks:</b></p><p><blockquote><b>论心智模型与决策框架：</b></blockquote></p><p> “We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”<i>—2010 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“当某件事工作得很好时，我们有足够的判断力继续做下去。我想说，我们正在展示一种可能被称为生命基本算法的东西——重复有效的东西。”<i>-2010年伯克希尔哈撒韦年会</i></blockquote></p><p> “I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —<i>2020 CalTech Distinguished Alumni Award interview</i></p><p><blockquote>“我花了一生的时间试图避免自己的精神偏见。a.）我对自己的错误嗤之以鼻。B.）我尽可能地保持简单和基本。而且，我喜欢安全边际的工程概念。我是一个非常阻塞和处理的思考者。我只是尽量避免犯傻。我有处理很多问题的方法——我把它们放在我看涨期权的“太难的一堆”里，然后把它们留在那里。我并不是想在我的‘太难堆’中取得成功。”-<i>2020加州理工学院杰出校友奖访谈</i></blockquote></p><p> <b>On life:</b></p><p><blockquote><b>关于生活：</b></blockquote></p><p> “I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”<i>—1997 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“我认为生活就是一系列的机会成本。你知道，你必须嫁给最好的人，他很容易找到谁会拥有你。投资也是一个类似的过程。”<i>——1997年伯克希尔哈撒韦公司年会</i></blockquote></p><p> \"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"<i>—2007 USC Law School Commencement Address</i></p><p><blockquote>“当然，另一件事是生活中会有可怕的打击，可怕的打击，不公平的打击。没关系。有些人康复了，有些人没有。在这方面，我认为爱比克泰德的态度是最好的。他认为生活中的每一次不幸都是表现良好的机会。生活中的每一次不幸都是学习的机会，你的责任不是沉浸在自怜中，而是以建设性的方式利用可怕的打击。这是一个非常好的主意。”<i>-2007年南加州大学法学院毕业典礼演讲</i></blockquote></p><p> “You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”<i>—2019 CNBC interview</i></p><p><blockquote>“你没有太多的嫉妒，你没有太多的怨恨，你不会超支你的收入，尽管你有麻烦，你仍然保持快乐，你与可靠的人打交道，你做你应该做的事情。所有这些简单的规则都能让你的生活变得更好。”<i>-2019年CNBC采访</i></blockquote></p><p></p>","source":"lsy1584348713084","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>21 brilliant quotes from legendary investor and polymath Charlie Munger<blockquote>传奇投资者和博学的查理·芒格的21句精彩名言</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\">\n21 brilliant quotes from legendary investor and polymath Charlie Munger<blockquote>传奇投资者和博学的查理·芒格的21句精彩名言</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo</strong><span class=\"h-time small\">2021-04-30 21:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.</p><p><blockquote>伯克希尔哈撒韦公司（BRK-A、BRK-B）年度股东大会将于5月1日在洛杉矶举行，沃伦·巴菲特将与分居一年后的加州长期商业伙伴查理·芒格重聚。</blockquote></p><p> In a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.</p><p><blockquote>在正常的一年里，成千上万的人前往内布拉斯加州的奥马哈朝圣，听90岁的巴菲特和97岁的芒格回答问题几个小时，一边啜饮可口可乐，一边啃喜诗糖果的花生糖。伯克希尔·哈撒韦公司副董事长芒格因其广博的知识和关于商业、投资和生活的格言以及丰富多彩的语言和幽默而受到崇拜。众所周知，在巴菲特说完之后，他经常说：“我没有什么要补充的了。”去年，由于冠状病毒大流行，伯克希尔·哈撒韦公司的年会变成了虚拟会议，巴菲特在没有芒格的空荡荡的CHI健康中心竞技场远距离回答问题。</blockquote></p><p> While Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”</p><p><blockquote>虽然巴菲特是伯克希尔哈撒韦公司更公开、更容易辨认的面孔，但这家标志性企业集团今天的地位是按照芒格的蓝图建立的，即超越所谓的“雪茄屁股”投资，转向“以公平的价格收购出色的企业”。纪念公司成立50周年的股东信。尽管巴菲特将他的成功归功于芒格，但他也强调，他的朋友和商业伙伴让他成为了一个“更好的人”。</blockquote></p><p> And so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:</p><p><blockquote>因此，为了纪念这两位投资传奇人物以及长期合作伙伴和朋友的重聚，我们整理了一些我们最喜欢的芒格名言：</blockquote></p><p> <b>On learning</b></p><p><blockquote><b>论学习</b></blockquote></p><p> “In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“在我的一生中，我从来没有认识过不一直读书的智者（在广泛的主题领域）——没有，零。你会惊讶于沃伦读了多少书——以及我读了多少书。我的孩子们嘲笑我。他们认为我是一本伸出两条腿的书。”<i>——可怜的查理年鉴</i></blockquote></p><p> \"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"<i>—2021 Daily Journal AGM</i></p><p><blockquote>“没有学习的方法，你就像一个踢屁股比赛的独腿人。只是不会很好地发挥作用。”<i>-2021年度日报股东周年大会</i></blockquote></p><p> “I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”<i>—2007 USC Law School Commencement Address</i></p><p><blockquote>“我经常看到一些人在生活中崛起，他们并不是最聪明的，有时甚至不是最勤奋的，但他们是学习机器。他们每天晚上睡觉时都比起床时聪明一点，这很有帮助——尤其是当你还有很长的路要走的时候。”<i>-2007年南加州大学法学院毕业典礼演讲</i></blockquote></p><p> “I think that a life properly lived is just learn, learn, learn all the time.”<i>—2017 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“我认为正确的生活就是不断学习、学习、学习。”<i>—2017年伯克希尔哈撒韦年会</i></blockquote></p><p> “Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“获得世俗的智慧，并相应地调整你的行为。如果你的新行为让你在同龄人中暂时不受欢迎，那就让他们见鬼去吧。”<i>——可怜的查理年鉴</i></blockquote></p><p> “Live within your income and save so that you can invest. Learn what you need to learn.”<b><i>—</i></b><i>Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger</i></p><p><blockquote>“量入为出，存钱，这样你就可以投资。学习你需要学习的东西。”<b><i>—</i></b><i>太对了！：伯克希尔·哈撒韦亿万富翁查理·芒格的幕后花絮</i></blockquote></p><p> <b>On investing and business:</b></p><p><blockquote><b>关于投资和商业：</b></blockquote></p><p> “Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“理解复利的力量和获得复利的难度是理解很多事情的核心和灵魂。”<i>——可怜的查理年鉴</i></blockquote></p><p> “There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —<i>Worldly Wisdom by Charlie Munger 1995 - 1998</i></p><p><blockquote>“对于个人来说，进入一个可以进行一些伟大投资并坐在屁股上的职位有巨大的优势：你向经纪人支付的费用更少。你听到的废话也更少。如果成功的话，政府税收系统每年会给你额外的1、2或3个百分点的复利。”—<i>查理·芒格的《世俗智慧》1995-1998</i></blockquote></p><p> “I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM</p><p><blockquote>“我有一个渔夫朋友，他说，‘我有一个钓鱼成功的简单规则。在有鱼的地方钓鱼。’你想在有便宜货的地方钓鱼。就这么简单。如果你所在的地方钓鱼真的很糟糕，你可能应该寻找另一个地方钓鱼。”—2020 Daily Journal年度股东大会</blockquote></p><p> “Mimicking the herd invites regression to the mean (merely average performance).”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“模仿群体会导致回归均值（仅仅是平均表现）。”<i>——可怜的查理年鉴</i></blockquote></p><p> “The world is full of foolish gamblers and they will not do as well as the patient investors.”<i>—2018 Weekly in Stocks interview</i></p><p><blockquote>“这个世界充满了愚蠢的赌徒，他们不会像耐心的投资者那样做得好。”<i>-2018年每周股票访谈</i></blockquote></p><p> “It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“拿着那么多钱无所事事需要性格。我不是靠追求平庸的机会才有今天的成就的。”<i>——可怜的查理年鉴</i></blockquote></p><p> “I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —<i>2021 Daily Journal AGM</i></p><p><blockquote>“我发现找到四到五项投资要容易得多，而且我有相当合理的机会是正确的，它们远高于平均水平。我认为找到五项比找到100项容易得多。我认为那些主张所有这些多元化的人——顺便说一句，我将其看涨期权为‘去恶化’——这是我从某人那里复制的——我更愿意拥有两到三只我认为我了解一些并且我认为我有优势的股票。”—<i>2021年度日报年度股东大会</i></blockquote></p><p></p><p> \"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"<i>—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department</i></p><p><blockquote>“通常我不会用正式的投影，我不让别人帮我做，因为我不喜欢在桌子上呕吐，但我一直看到他们是用非常愚蠢的方式做的，而且很多人相信他们，不管他们有多愚蠢。在美国，把一个愚蠢的投影放在桌子上是一种有效的销售技巧。”<i>2003年加州大学圣巴巴拉分校经济系Herb Kay本科生讲座</i></blockquote></p><p> \"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management &amp; Business,\" 1994 speech at USC Business School</p><p><blockquote>“我认为我们在投资管理方面陷入如此愚蠢的原因最好地说明了我讲的一个卖渔具的人的故事。我问他，‘天哪，它们是紫色和绿色的。鱼真的会接受这些鱼饵吗？’他说，‘先生，我不卖给鱼。’”-1994年在南加州大学商学院的演讲：“关于投资管理和商业的基本世俗智慧的一课”</blockquote></p><p> “Capitalism without failure is like religion without hell.” —<i>Tao of Charlie Munger</i></p><p><blockquote>“没有失败的资本主义就像没有地狱的宗教。”—<i>查理·芒格之道</i></blockquote></p><p> <b>On mental models and decision-making frameworks:</b></p><p><blockquote><b>论心智模型与决策框架：</b></blockquote></p><p> “We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”<i>—2010 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“当某件事工作得很好时，我们有足够的判断力继续做下去。我想说，我们正在展示一种可能被称为生命基本算法的东西——重复有效的东西。”<i>-2010年伯克希尔哈撒韦年会</i></blockquote></p><p> “I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —<i>2020 CalTech Distinguished Alumni Award interview</i></p><p><blockquote>“我花了一生的时间试图避免自己的精神偏见。a.）我对自己的错误嗤之以鼻。B.）我尽可能地保持简单和基本。而且，我喜欢安全边际的工程概念。我是一个非常阻塞和处理的思考者。我只是尽量避免犯傻。我有处理很多问题的方法——我把它们放在我看涨期权的“太难的一堆”里，然后把它们留在那里。我并不是想在我的‘太难堆’中取得成功。”-<i>2020加州理工学院杰出校友奖访谈</i></blockquote></p><p> <b>On life:</b></p><p><blockquote><b>关于生活：</b></blockquote></p><p> “I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”<i>—1997 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“我认为生活就是一系列的机会成本。你知道，你必须嫁给最好的人，他很容易找到谁会拥有你。投资也是一个类似的过程。”<i>——1997年伯克希尔哈撒韦公司年会</i></blockquote></p><p> \"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"<i>—2007 USC Law School Commencement Address</i></p><p><blockquote>“当然，另一件事是生活中会有可怕的打击，可怕的打击，不公平的打击。没关系。有些人康复了，有些人没有。在这方面，我认为爱比克泰德的态度是最好的。他认为生活中的每一次不幸都是表现良好的机会。生活中的每一次不幸都是学习的机会，你的责任不是沉浸在自怜中，而是以建设性的方式利用可怕的打击。这是一个非常好的主意。”<i>-2007年南加州大学法学院毕业典礼演讲</i></blockquote></p><p> “You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”<i>—2019 CNBC interview</i></p><p><blockquote>“你没有太多的嫉妒，你没有太多的怨恨，你不会超支你的收入，尽管你有麻烦，你仍然保持快乐，你与可靠的人打交道，你做你应该做的事情。所有这些简单的规则都能让你的生活变得更好。”<i>-2019年CNBC采访</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html\">Yahoo</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://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114554743","content_text":"Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.\nIn a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.\nWhile Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”\nAnd so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:\nOn learning\n“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”—Poor Charlie's Almanack\n\"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"—2021 Daily Journal AGM\n“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”—2007 USC Law School Commencement Address\n“I think that a life properly lived is just learn, learn, learn all the time.”—2017 Berkshire Hathaway Annual Meeting\n“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”—Poor Charlie's Almanack\n“Live within your income and save so that you can invest. Learn what you need to learn.”—Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger\nOn investing and business:\n“Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”—Poor Charlie's Almanack\n“There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —Worldly Wisdom by Charlie Munger 1995 - 1998\n“I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM\n“Mimicking the herd invites regression to the mean (merely average performance).”—Poor Charlie's Almanack\n“The world is full of foolish gamblers and they will not do as well as the patient investors.”—2018 Weekly in Stocks interview\n“It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”—Poor Charlie's Almanack\n“I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —2021 Daily Journal AGM\n\"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department\n\"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business,\" 1994 speech at USC Business School\n“Capitalism without failure is like religion without hell.” —Tao of Charlie Munger\nOn mental models and decision-making frameworks:\n“We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”—2010 Berkshire Hathaway Annual Meeting\n“I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —2020 CalTech Distinguished Alumni Award interview\nOn life:\n“I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”—1997 Berkshire Hathaway Annual Meeting\n\"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"—2007 USC Law School Commencement Address\n“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”—2019 CNBC interview","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103273724,"gmtCreate":1619790819168,"gmtModify":1634209911883,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574284389004367","authorIdStr":"3574284389004367"},"themes":[],"htmlText":"😃😄😄","listText":"😃😄😄","text":"😃😄😄","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103273724","repostId":"1144609375","repostType":4,"isVote":1,"tweetType":1,"viewCount":614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":106485559,"gmtCreate":1620139556171,"gmtModify":1634207515896,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"😶😳😐","listText":"😶😳😐","text":"😶😳😐","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/106485559","repostId":"1153949411","repostType":4,"isVote":1,"tweetType":1,"viewCount":1037,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138888012,"gmtCreate":1621926581836,"gmtModify":1631893585380,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/138888012","repostId":"1110970098","repostType":4,"repost":{"id":"1110970098","kind":"news","pubTimestamp":1621926395,"share":"https://www.laohu8.com/m/news/1110970098?lang=zh_CN&edition=full","pubTime":"2021-05-25 15:06","market":"us","language":"en","title":"Dump Nio And Buy Tesla, Says Cramer<blockquote>克莱默表示，抛售蔚来并购买特斯拉</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1110970098","media":"benzinga","summary":"CNBC host Jim Cramer has advised investors to sell their shares in Chinese electric vehicle maker Nio Inc. and buy shares in Tesla Inc. instead.What Happened: On the CNBC “Mad Money\" lightning round,Cramer saidinvestors in Nio should be switching to Tesla, as it is the “single best time” to buy shares in the Elon Musk-led company.“Remember the piece that we did with Larry Williams... a couple weeks ago which said this is the single best time to buy Tesla, right here, right now? That’s what you’r","content":"<p><div> CNBC host Jim Cramer has advised investors to sell their shares in Chinese electric vehicle maker Nio Inc. and buy shares in Tesla Inc. instead.What Happened: On the CNBC “Mad Money\" lightning round,...</p><p><blockquote><div>CNBC主持人吉姆·克莱默建议投资者出售中国电动汽车制造商蔚来的股票，转而购买特斯拉公司的股票。发生了什么：在美国消费者新闻与商业频道的“疯狂金钱”闪电回合中，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">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>Dump Nio And Buy Tesla, Says Cramer<blockquote>克莱默表示，抛售蔚来并购买特斯拉</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\">\nDump Nio And Buy Tesla, Says Cramer<blockquote>克莱默表示，抛售蔚来并购买特斯拉</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-25 15:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> CNBC host Jim Cramer has advised investors to sell their shares in Chinese electric vehicle maker Nio Inc. and buy shares in Tesla Inc. instead.What Happened: On the CNBC “Mad Money\" lightning round,...</p><p><blockquote><div>CNBC主持人吉姆·克莱默建议投资者出售中国电动汽车制造商蔚来的股票，转而购买特斯拉公司的股票。发生了什么：在美国消费者新闻与商业频道的“疯狂金钱”闪电回合中，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">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/21/05/21270596/dump-nio-and-buy-tesla-says-cramer\">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":{"TSLA":"特斯拉","NIO":"蔚来"},"source_url":"https://www.benzinga.com/news/21/05/21270596/dump-nio-and-buy-tesla-says-cramer","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110970098","content_text":"CNBC host Jim Cramer has advised investors to sell their shares in Chinese electric vehicle maker Nio Inc. and buy shares in Tesla Inc. instead.What Happened: On the CNBC “Mad Money\" lightning round,Cramer saidinvestors in Nio should be switching to Tesla, as it is the “single best time” to buy shares in the Elon Musk-led company.“Remember the piece that we did with Larry Williams... a couple weeks ago which said this is the single best time to buy Tesla, right here, right now? That’s what you’re going to do tomorrow,” Cramer said.In January, Cramer had called Nio the “hottest” Chinese stock, especially with the downfall of Alibaba Group Holdings Inc., and as investors looked for the next Tesla.Why It Matters:Tesla’s stock hit a 52-week high of $900.40 in late January, but is down 14% year-to-date.Of late, Tesla has been facing rough weather in China - its second largest market - due tosafety issuesandmilitary spy noise. Tesla has also halted plans to expand its Gigafactory in Shanghai due to the strained U.S.-China relations, it wasreportedearlier this month.Nio, which targets the premium EV segment, relies on service offerings such asbattery-as-a-serviceto make an impact on customers in China.Nio plans to commercially launch the ET7, its first-ever EV sedan, in the first quarter of 2022. Earlier this month, Niounveiledits ambitious plan to enter the Norway electric vehicle market for its first overseas foray.Nio’s stock touched a 52-week high of $66.99 in January this year, but is down 26.4% for the year-to-date period.Price Action: Tesla shares closed 4.4% higher in Monday’s trading at $606.44, while Nio shares closed 5.4% higher at $35.89.","news_type":1,"symbols_score_info":{"TSLA":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133532088,"gmtCreate":1621765992144,"gmtModify":1634186694539,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"hahhaahahaha&nbsp;📉","listText":"hahhaahahaha&nbsp;📉","text":"hahhaahahaha 📉","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/133532088","isVote":1,"tweetType":1,"viewCount":869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160002809,"gmtCreate":1623765724701,"gmtModify":1631893585369,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"😀😀😀","listText":"😀😀😀","text":"😀😀😀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/160002809","isVote":1,"tweetType":1,"viewCount":1763,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103271567,"gmtCreate":1619790897259,"gmtModify":1634209911663,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"😃😃😃","listText":"😃😃😃","text":"😃😃😃","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/103271567","repostId":"1114554743","repostType":4,"repost":{"id":"1114554743","kind":"news","pubTimestamp":1619790825,"share":"https://www.laohu8.com/m/news/1114554743?lang=zh_CN&edition=full","pubTime":"2021-04-30 21:53","market":"us","language":"en","title":"21 brilliant quotes from legendary investor and polymath Charlie Munger<blockquote>传奇投资者和博学的查理·芒格的21句精彩名言</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114554743","media":"Yahoo","summary":"Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May","content":"<p>Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.</p><p><blockquote>伯克希尔哈撒韦公司（BRK-A、BRK-B）年度股东大会将于5月1日在洛杉矶举行，沃伦·巴菲特将与分居一年后的加州长期商业伙伴查理·芒格重聚。</blockquote></p><p> In a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.</p><p><blockquote>在正常的一年里，成千上万的人前往内布拉斯加州的奥马哈朝圣，听90岁的巴菲特和97岁的芒格回答问题几个小时，一边啜饮可口可乐，一边啃喜诗糖果的花生糖。伯克希尔·哈撒韦公司副董事长芒格因其广博的知识和关于商业、投资和生活的格言以及丰富多彩的语言和幽默而受到崇拜。众所周知，在巴菲特说完之后，他经常说：“我没有什么要补充的了。”去年，由于冠状病毒大流行，伯克希尔·哈撒韦公司的年会变成了虚拟会议，巴菲特在没有芒格的空荡荡的CHI健康中心竞技场远距离回答问题。</blockquote></p><p> While Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”</p><p><blockquote>虽然巴菲特是伯克希尔哈撒韦公司更公开、更容易辨认的面孔，但这家标志性企业集团今天的地位是按照芒格的蓝图建立的，即超越所谓的“雪茄屁股”投资，转向“以公平的价格收购出色的企业”。纪念公司成立50周年的股东信。尽管巴菲特将他的成功归功于芒格，但他也强调，他的朋友和商业伙伴让他成为了一个“更好的人”。</blockquote></p><p> And so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:</p><p><blockquote>因此，为了纪念这两位投资传奇人物以及长期合作伙伴和朋友的重聚，我们整理了一些我们最喜欢的芒格名言：</blockquote></p><p> <b>On learning</b></p><p><blockquote><b>论学习</b></blockquote></p><p> “In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“在我的一生中，我从来没有认识过不一直读书的智者（在广泛的主题领域）——没有，零。你会惊讶于沃伦读了多少书——以及我读了多少书。我的孩子们嘲笑我。他们认为我是一本伸出两条腿的书。”<i>——可怜的查理年鉴</i></blockquote></p><p> \"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"<i>—2021 Daily Journal AGM</i></p><p><blockquote>“没有学习的方法，你就像一个踢屁股比赛的独腿人。只是不会很好地发挥作用。”<i>-2021年度日报股东周年大会</i></blockquote></p><p> “I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”<i>—2007 USC Law School Commencement Address</i></p><p><blockquote>“我经常看到一些人在生活中崛起，他们并不是最聪明的，有时甚至不是最勤奋的，但他们是学习机器。他们每天晚上睡觉时都比起床时聪明一点，这很有帮助——尤其是当你还有很长的路要走的时候。”<i>-2007年南加州大学法学院毕业典礼演讲</i></blockquote></p><p> “I think that a life properly lived is just learn, learn, learn all the time.”<i>—2017 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“我认为正确的生活就是不断学习、学习、学习。”<i>—2017年伯克希尔哈撒韦年会</i></blockquote></p><p> “Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“获得世俗的智慧，并相应地调整你的行为。如果你的新行为让你在同龄人中暂时不受欢迎，那就让他们见鬼去吧。”<i>——可怜的查理年鉴</i></blockquote></p><p> “Live within your income and save so that you can invest. Learn what you need to learn.”<b><i>—</i></b><i>Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger</i></p><p><blockquote>“量入为出，存钱，这样你就可以投资。学习你需要学习的东西。”<b><i>—</i></b><i>太对了！：伯克希尔·哈撒韦亿万富翁查理·芒格的幕后花絮</i></blockquote></p><p> <b>On investing and business:</b></p><p><blockquote><b>关于投资和商业：</b></blockquote></p><p> “Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“理解复利的力量和获得复利的难度是理解很多事情的核心和灵魂。”<i>——可怜的查理年鉴</i></blockquote></p><p> “There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —<i>Worldly Wisdom by Charlie Munger 1995 - 1998</i></p><p><blockquote>“对于个人来说，进入一个可以进行一些伟大投资并坐在屁股上的职位有巨大的优势：你向经纪人支付的费用更少。你听到的废话也更少。如果成功的话，政府税收系统每年会给你额外的1、2或3个百分点的复利。”—<i>查理·芒格的《世俗智慧》1995-1998</i></blockquote></p><p> “I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM</p><p><blockquote>“我有一个渔夫朋友，他说，‘我有一个钓鱼成功的简单规则。在有鱼的地方钓鱼。’你想在有便宜货的地方钓鱼。就这么简单。如果你所在的地方钓鱼真的很糟糕，你可能应该寻找另一个地方钓鱼。”—2020 Daily Journal年度股东大会</blockquote></p><p> “Mimicking the herd invites regression to the mean (merely average performance).”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“模仿群体会导致回归均值（仅仅是平均表现）。”<i>——可怜的查理年鉴</i></blockquote></p><p> “The world is full of foolish gamblers and they will not do as well as the patient investors.”<i>—2018 Weekly in Stocks interview</i></p><p><blockquote>“这个世界充满了愚蠢的赌徒，他们不会像耐心的投资者那样做得好。”<i>-2018年每周股票访谈</i></blockquote></p><p> “It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“拿着那么多钱无所事事需要性格。我不是靠追求平庸的机会才有今天的成就的。”<i>——可怜的查理年鉴</i></blockquote></p><p> “I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —<i>2021 Daily Journal AGM</i></p><p><blockquote>“我发现找到四到五项投资要容易得多，而且我有相当合理的机会是正确的，它们远高于平均水平。我认为找到五项比找到100项容易得多。我认为那些主张所有这些多元化的人——顺便说一句，我将其看涨期权为‘去恶化’——这是我从某人那里复制的——我更愿意拥有两到三只我认为我了解一些并且我认为我有优势的股票。”—<i>2021年度日报年度股东大会</i></blockquote></p><p></p><p> \"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"<i>—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department</i></p><p><blockquote>“通常我不会用正式的投影，我不让别人帮我做，因为我不喜欢在桌子上呕吐，但我一直看到他们是用非常愚蠢的方式做的，而且很多人相信他们，不管他们有多愚蠢。在美国，把一个愚蠢的投影放在桌子上是一种有效的销售技巧。”<i>2003年加州大学圣巴巴拉分校经济系Herb Kay本科生讲座</i></blockquote></p><p> \"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management &amp; Business,\" 1994 speech at USC Business School</p><p><blockquote>“我认为我们在投资管理方面陷入如此愚蠢的原因最好地说明了我讲的一个卖渔具的人的故事。我问他，‘天哪，它们是紫色和绿色的。鱼真的会接受这些鱼饵吗？’他说，‘先生，我不卖给鱼。’”-1994年在南加州大学商学院的演讲：“关于投资管理和商业的基本世俗智慧的一课”</blockquote></p><p> “Capitalism without failure is like religion without hell.” —<i>Tao of Charlie Munger</i></p><p><blockquote>“没有失败的资本主义就像没有地狱的宗教。”—<i>查理·芒格之道</i></blockquote></p><p> <b>On mental models and decision-making frameworks:</b></p><p><blockquote><b>论心智模型与决策框架：</b></blockquote></p><p> “We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”<i>—2010 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“当某件事工作得很好时，我们有足够的判断力继续做下去。我想说，我们正在展示一种可能被称为生命基本算法的东西——重复有效的东西。”<i>-2010年伯克希尔哈撒韦年会</i></blockquote></p><p> “I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —<i>2020 CalTech Distinguished Alumni Award interview</i></p><p><blockquote>“我花了一生的时间试图避免自己的精神偏见。a.）我对自己的错误嗤之以鼻。B.）我尽可能地保持简单和基本。而且，我喜欢安全边际的工程概念。我是一个非常阻塞和处理的思考者。我只是尽量避免犯傻。我有处理很多问题的方法——我把它们放在我看涨期权的“太难的一堆”里，然后把它们留在那里。我并不是想在我的‘太难堆’中取得成功。”-<i>2020加州理工学院杰出校友奖访谈</i></blockquote></p><p> <b>On life:</b></p><p><blockquote><b>关于生活：</b></blockquote></p><p> “I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”<i>—1997 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“我认为生活就是一系列的机会成本。你知道，你必须嫁给最好的人，他很容易找到谁会拥有你。投资也是一个类似的过程。”<i>——1997年伯克希尔哈撒韦公司年会</i></blockquote></p><p> \"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"<i>—2007 USC Law School Commencement Address</i></p><p><blockquote>“当然，另一件事是生活中会有可怕的打击，可怕的打击，不公平的打击。没关系。有些人康复了，有些人没有。在这方面，我认为爱比克泰德的态度是最好的。他认为生活中的每一次不幸都是表现良好的机会。生活中的每一次不幸都是学习的机会，你的责任不是沉浸在自怜中，而是以建设性的方式利用可怕的打击。这是一个非常好的主意。”<i>-2007年南加州大学法学院毕业典礼演讲</i></blockquote></p><p> “You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”<i>—2019 CNBC interview</i></p><p><blockquote>“你没有太多的嫉妒，你没有太多的怨恨，你不会超支你的收入，尽管你有麻烦，你仍然保持快乐，你与可靠的人打交道，你做你应该做的事情。所有这些简单的规则都能让你的生活变得更好。”<i>-2019年CNBC采访</i></blockquote></p><p></p>","source":"lsy1584348713084","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>21 brilliant quotes from legendary investor and polymath Charlie Munger<blockquote>传奇投资者和博学的查理·芒格的21句精彩名言</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\">\n21 brilliant quotes from legendary investor and polymath Charlie Munger<blockquote>传奇投资者和博学的查理·芒格的21句精彩名言</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo</strong><span class=\"h-time small\">2021-04-30 21:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.</p><p><blockquote>伯克希尔哈撒韦公司（BRK-A、BRK-B）年度股东大会将于5月1日在洛杉矶举行，沃伦·巴菲特将与分居一年后的加州长期商业伙伴查理·芒格重聚。</blockquote></p><p> In a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.</p><p><blockquote>在正常的一年里，成千上万的人前往内布拉斯加州的奥马哈朝圣，听90岁的巴菲特和97岁的芒格回答问题几个小时，一边啜饮可口可乐，一边啃喜诗糖果的花生糖。伯克希尔·哈撒韦公司副董事长芒格因其广博的知识和关于商业、投资和生活的格言以及丰富多彩的语言和幽默而受到崇拜。众所周知，在巴菲特说完之后，他经常说：“我没有什么要补充的了。”去年，由于冠状病毒大流行，伯克希尔·哈撒韦公司的年会变成了虚拟会议，巴菲特在没有芒格的空荡荡的CHI健康中心竞技场远距离回答问题。</blockquote></p><p> While Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”</p><p><blockquote>虽然巴菲特是伯克希尔哈撒韦公司更公开、更容易辨认的面孔，但这家标志性企业集团今天的地位是按照芒格的蓝图建立的，即超越所谓的“雪茄屁股”投资，转向“以公平的价格收购出色的企业”。纪念公司成立50周年的股东信。尽管巴菲特将他的成功归功于芒格，但他也强调，他的朋友和商业伙伴让他成为了一个“更好的人”。</blockquote></p><p> And so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:</p><p><blockquote>因此，为了纪念这两位投资传奇人物以及长期合作伙伴和朋友的重聚，我们整理了一些我们最喜欢的芒格名言：</blockquote></p><p> <b>On learning</b></p><p><blockquote><b>论学习</b></blockquote></p><p> “In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“在我的一生中，我从来没有认识过不一直读书的智者（在广泛的主题领域）——没有，零。你会惊讶于沃伦读了多少书——以及我读了多少书。我的孩子们嘲笑我。他们认为我是一本伸出两条腿的书。”<i>——可怜的查理年鉴</i></blockquote></p><p> \"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"<i>—2021 Daily Journal AGM</i></p><p><blockquote>“没有学习的方法，你就像一个踢屁股比赛的独腿人。只是不会很好地发挥作用。”<i>-2021年度日报股东周年大会</i></blockquote></p><p> “I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”<i>—2007 USC Law School Commencement Address</i></p><p><blockquote>“我经常看到一些人在生活中崛起，他们并不是最聪明的，有时甚至不是最勤奋的，但他们是学习机器。他们每天晚上睡觉时都比起床时聪明一点，这很有帮助——尤其是当你还有很长的路要走的时候。”<i>-2007年南加州大学法学院毕业典礼演讲</i></blockquote></p><p> “I think that a life properly lived is just learn, learn, learn all the time.”<i>—2017 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“我认为正确的生活就是不断学习、学习、学习。”<i>—2017年伯克希尔哈撒韦年会</i></blockquote></p><p> “Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“获得世俗的智慧，并相应地调整你的行为。如果你的新行为让你在同龄人中暂时不受欢迎，那就让他们见鬼去吧。”<i>——可怜的查理年鉴</i></blockquote></p><p> “Live within your income and save so that you can invest. Learn what you need to learn.”<b><i>—</i></b><i>Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger</i></p><p><blockquote>“量入为出，存钱，这样你就可以投资。学习你需要学习的东西。”<b><i>—</i></b><i>太对了！：伯克希尔·哈撒韦亿万富翁查理·芒格的幕后花絮</i></blockquote></p><p> <b>On investing and business:</b></p><p><blockquote><b>关于投资和商业：</b></blockquote></p><p> “Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“理解复利的力量和获得复利的难度是理解很多事情的核心和灵魂。”<i>——可怜的查理年鉴</i></blockquote></p><p> “There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —<i>Worldly Wisdom by Charlie Munger 1995 - 1998</i></p><p><blockquote>“对于个人来说，进入一个可以进行一些伟大投资并坐在屁股上的职位有巨大的优势：你向经纪人支付的费用更少。你听到的废话也更少。如果成功的话，政府税收系统每年会给你额外的1、2或3个百分点的复利。”—<i>查理·芒格的《世俗智慧》1995-1998</i></blockquote></p><p> “I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM</p><p><blockquote>“我有一个渔夫朋友，他说，‘我有一个钓鱼成功的简单规则。在有鱼的地方钓鱼。’你想在有便宜货的地方钓鱼。就这么简单。如果你所在的地方钓鱼真的很糟糕，你可能应该寻找另一个地方钓鱼。”—2020 Daily Journal年度股东大会</blockquote></p><p> “Mimicking the herd invites regression to the mean (merely average performance).”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“模仿群体会导致回归均值（仅仅是平均表现）。”<i>——可怜的查理年鉴</i></blockquote></p><p> “The world is full of foolish gamblers and they will not do as well as the patient investors.”<i>—2018 Weekly in Stocks interview</i></p><p><blockquote>“这个世界充满了愚蠢的赌徒，他们不会像耐心的投资者那样做得好。”<i>-2018年每周股票访谈</i></blockquote></p><p> “It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”<i>—Poor Charlie's Almanack</i></p><p><blockquote>“拿着那么多钱无所事事需要性格。我不是靠追求平庸的机会才有今天的成就的。”<i>——可怜的查理年鉴</i></blockquote></p><p> “I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —<i>2021 Daily Journal AGM</i></p><p><blockquote>“我发现找到四到五项投资要容易得多，而且我有相当合理的机会是正确的，它们远高于平均水平。我认为找到五项比找到100项容易得多。我认为那些主张所有这些多元化的人——顺便说一句，我将其看涨期权为‘去恶化’——这是我从某人那里复制的——我更愿意拥有两到三只我认为我了解一些并且我认为我有优势的股票。”—<i>2021年度日报年度股东大会</i></blockquote></p><p></p><p> \"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"<i>—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department</i></p><p><blockquote>“通常我不会用正式的投影，我不让别人帮我做，因为我不喜欢在桌子上呕吐，但我一直看到他们是用非常愚蠢的方式做的，而且很多人相信他们，不管他们有多愚蠢。在美国，把一个愚蠢的投影放在桌子上是一种有效的销售技巧。”<i>2003年加州大学圣巴巴拉分校经济系Herb Kay本科生讲座</i></blockquote></p><p> \"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management &amp; Business,\" 1994 speech at USC Business School</p><p><blockquote>“我认为我们在投资管理方面陷入如此愚蠢的原因最好地说明了我讲的一个卖渔具的人的故事。我问他，‘天哪，它们是紫色和绿色的。鱼真的会接受这些鱼饵吗？’他说，‘先生，我不卖给鱼。’”-1994年在南加州大学商学院的演讲：“关于投资管理和商业的基本世俗智慧的一课”</blockquote></p><p> “Capitalism without failure is like religion without hell.” —<i>Tao of Charlie Munger</i></p><p><blockquote>“没有失败的资本主义就像没有地狱的宗教。”—<i>查理·芒格之道</i></blockquote></p><p> <b>On mental models and decision-making frameworks:</b></p><p><blockquote><b>论心智模型与决策框架：</b></blockquote></p><p> “We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”<i>—2010 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“当某件事工作得很好时，我们有足够的判断力继续做下去。我想说，我们正在展示一种可能被称为生命基本算法的东西——重复有效的东西。”<i>-2010年伯克希尔哈撒韦年会</i></blockquote></p><p> “I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —<i>2020 CalTech Distinguished Alumni Award interview</i></p><p><blockquote>“我花了一生的时间试图避免自己的精神偏见。a.）我对自己的错误嗤之以鼻。B.）我尽可能地保持简单和基本。而且，我喜欢安全边际的工程概念。我是一个非常阻塞和处理的思考者。我只是尽量避免犯傻。我有处理很多问题的方法——我把它们放在我看涨期权的“太难的一堆”里，然后把它们留在那里。我并不是想在我的‘太难堆’中取得成功。”-<i>2020加州理工学院杰出校友奖访谈</i></blockquote></p><p> <b>On life:</b></p><p><blockquote><b>关于生活：</b></blockquote></p><p> “I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”<i>—1997 Berkshire Hathaway Annual Meeting</i></p><p><blockquote>“我认为生活就是一系列的机会成本。你知道，你必须嫁给最好的人，他很容易找到谁会拥有你。投资也是一个类似的过程。”<i>——1997年伯克希尔哈撒韦公司年会</i></blockquote></p><p> \"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"<i>—2007 USC Law School Commencement Address</i></p><p><blockquote>“当然，另一件事是生活中会有可怕的打击，可怕的打击，不公平的打击。没关系。有些人康复了，有些人没有。在这方面，我认为爱比克泰德的态度是最好的。他认为生活中的每一次不幸都是表现良好的机会。生活中的每一次不幸都是学习的机会，你的责任不是沉浸在自怜中，而是以建设性的方式利用可怕的打击。这是一个非常好的主意。”<i>-2007年南加州大学法学院毕业典礼演讲</i></blockquote></p><p> “You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”<i>—2019 CNBC interview</i></p><p><blockquote>“你没有太多的嫉妒，你没有太多的怨恨，你不会超支你的收入，尽管你有麻烦，你仍然保持快乐，你与可靠的人打交道，你做你应该做的事情。所有这些简单的规则都能让你的生活变得更好。”<i>-2019年CNBC采访</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html\">Yahoo</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://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114554743","content_text":"Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.\nIn a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.\nWhile Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”\nAnd so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:\nOn learning\n“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”—Poor Charlie's Almanack\n\"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"—2021 Daily Journal AGM\n“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”—2007 USC Law School Commencement Address\n“I think that a life properly lived is just learn, learn, learn all the time.”—2017 Berkshire Hathaway Annual Meeting\n“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”—Poor Charlie's Almanack\n“Live within your income and save so that you can invest. Learn what you need to learn.”—Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger\nOn investing and business:\n“Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”—Poor Charlie's Almanack\n“There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —Worldly Wisdom by Charlie Munger 1995 - 1998\n“I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM\n“Mimicking the herd invites regression to the mean (merely average performance).”—Poor Charlie's Almanack\n“The world is full of foolish gamblers and they will not do as well as the patient investors.”—2018 Weekly in Stocks interview\n“It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”—Poor Charlie's Almanack\n“I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —2021 Daily Journal AGM\n\"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department\n\"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business,\" 1994 speech at USC Business School\n“Capitalism without failure is like religion without hell.” —Tao of Charlie Munger\nOn mental models and decision-making frameworks:\n“We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”—2010 Berkshire Hathaway Annual Meeting\n“I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —2020 CalTech Distinguished Alumni Award interview\nOn life:\n“I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”—1997 Berkshire Hathaway Annual Meeting\n\"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"—2007 USC Law School Commencement Address\n“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”—2019 CNBC interview","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103460657,"gmtCreate":1619801944579,"gmtModify":1634209806006,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"😶😐😶","listText":"😶😐😶","text":"😶😐😶","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103460657","repostId":"1186088353","repostType":4,"isVote":1,"tweetType":1,"viewCount":882,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103460918,"gmtCreate":1619801913234,"gmtModify":1634209806348,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"😳😳😳","listText":"😳😳😳","text":"😳😳😳","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/103460918","repostId":"1146129324","repostType":4,"repost":{"id":"1146129324","kind":"news","pubTimestamp":1619795610,"share":"https://www.laohu8.com/m/news/1146129324?lang=zh_CN&edition=full","pubTime":"2021-04-30 23:13","market":"us","language":"en","title":"1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146129324","media":"Motley Fool","summary":"Electric-car companyTeslahas now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle  pioneer is on the right track in terms of profitability.The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter fro","content":"<p>Electric-car company<b>Tesla</b>(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.</p><p><blockquote>电动汽车公司<b>特斯拉</b>（纳斯达克：TSLA）现已连续七个季度盈利。特斯拉第一季度管理的AGAAP净收入为4.38亿美元，高于一年前的1600万美元。至少乍一看，这家电动汽车（EV）先驱在盈利能力方面似乎走在正确的轨道上。</blockquote></p><p> The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.</p><p><blockquote>问题是这些利润并不是真正来自特斯拉销售的汽车。该公司目前每个季度都从销售监管信用中获得数亿美元的净利润，这是其他汽车制造商没有生产足够的零排放汽车来满足监管要求的副作用。</blockquote></p><p> Regulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.</p><p><blockquote>第一季度监管信贷销售额总计5.18亿美元，占特斯拉全部利润甚至部分利润。前几个季度也是如此。事实上，在从特斯拉净利润中收回监管信贷后，该公司已连续六个季度不盈利。</blockquote></p><p> Tesla's bottom line got an additional boost in the first quarter from a gain onthe sale of<b>Bitcoin</b>to the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:</p><p><blockquote>特斯拉第一季度的利润因出售<b>比特币</b>高达1.01亿美元，这表现为成本的降低。当排除监管信贷和比特币收益时，情况看起来并不那么乐观：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0906160cab581f4c8a599b7d0965d34\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> DATA SOURCE: TESLA. CHART BY AUTHOR.</p><p><blockquote>数据来源：特斯拉。作者图表。</blockquote></p><p> There's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?</p><p><blockquote>毫无疑问，特斯拉的增长令人印象深刻，但毫无疑问，制造和销售汽车的核心业务并未盈利。特斯拉投资者需要问自己的问题是：如果特斯拉现在没有盈利，当美国电动汽车几乎没有竞争时，当传统汽车制造商的大量竞争到来时会发生什么？</blockquote></p><p> A ton of competition is coming</p><p><blockquote>大量的竞争即将到来</blockquote></p><p> Tesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.</p><p><blockquote>特斯拉的品牌拥有狂热的追随者，因此无论其他选择如何，有些人都会购买特斯拉汽车。但对大多数人来说，情况不太可能如此。</blockquote></p><p> The number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.<b>General Motors</b>(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.</p><p><blockquote>未来几年，美国可供购买的电动汽车数量将呈爆炸式增长。<b>通用汽车</b>（纽约证券交易所股票代码：GM）计划到2025年在全球推出30款电动汽车，其中三分之二将在北美销售。该公司的目标是到2025年在北美每年销售100万辆电动汽车。</blockquote></p><p> Those models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.</p><p><blockquote>这些车型包括该公司GMC悍马和雪佛兰索罗德皮卡的电动版本。特斯拉拥有忠实的客户群，但通用汽车也是如此。多年来一直购买通用汽车卡车的人在决定转向电动汽车时可能会坚持使用通用汽车。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c651279799dfdf96552379a7b5d448a9\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> IMAGE SOURCE: GM.</p><p><blockquote>图片来源：通用汽车。</blockquote></p><p> <b>Ford</b>(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.</p><p><blockquote><b>福特</b>（纽约证券交易所股票代码：F）也在向电动汽车投入资源，到2025年为电动和自动驾驶汽车拨款290亿美元。该公司的计划包括F-150皮卡车的电动版本，预计将于2022年中期投入生产线。鉴于通用和福特的计划，特斯拉要抢走利润丰厚的皮卡市场份额并不容易。</blockquote></p><p> Other car companies have big plans, as well.<b>Volkswagen</b>(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.<b>Toyota</b>(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.</p><p><blockquote>其他汽车公司也有宏伟的计划。<b>大众汽车</b>(OTC：VWAGY)每年已销售超过200,000辆电动汽车，预计今年这一数字将翻一番。该公司的目标是到2025年每年销售约200万辆电动汽车，并预计到2030年推出70款电动汽车车型。<b>丰田</b>(NYSE：TM)将在2025年之前推出15款新电动汽车，其中一些将属于新的丰田bZ子品牌。这样的例子不胜枚举。</blockquote></p><p> Not only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.</p><p><blockquote>所有这些电动汽车不仅将为消费者提供特斯拉之外的一系列选择，而且随着其他汽车制造商生产越来越多的电动汽车，它们还将剥夺特斯拉的监管信贷收入。</blockquote></p><p> None of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.</p><p><blockquote>这并不是说特斯拉不能在一个面临更多竞争的世界中取得成功。但每年盈利都会变得越来越困难。</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>1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</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\">\n1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</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\">2021-04-30 23:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Electric-car company<b>Tesla</b>(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.</p><p><blockquote>电动汽车公司<b>特斯拉</b>（纳斯达克：TSLA）现已连续七个季度盈利。特斯拉第一季度管理的AGAAP净收入为4.38亿美元，高于一年前的1600万美元。至少乍一看，这家电动汽车（EV）先驱在盈利能力方面似乎走在正确的轨道上。</blockquote></p><p> The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.</p><p><blockquote>问题是这些利润并不是真正来自特斯拉销售的汽车。该公司目前每个季度都从销售监管信用中获得数亿美元的净利润，这是其他汽车制造商没有生产足够的零排放汽车来满足监管要求的副作用。</blockquote></p><p> Regulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.</p><p><blockquote>第一季度监管信贷销售额总计5.18亿美元，占特斯拉全部利润甚至部分利润。前几个季度也是如此。事实上，在从特斯拉净利润中收回监管信贷后，该公司已连续六个季度不盈利。</blockquote></p><p> Tesla's bottom line got an additional boost in the first quarter from a gain onthe sale of<b>Bitcoin</b>to the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:</p><p><blockquote>特斯拉第一季度的利润因出售<b>比特币</b>高达1.01亿美元，这表现为成本的降低。当排除监管信贷和比特币收益时，情况看起来并不那么乐观：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0906160cab581f4c8a599b7d0965d34\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> DATA SOURCE: TESLA. CHART BY AUTHOR.</p><p><blockquote>数据来源：特斯拉。作者图表。</blockquote></p><p> There's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?</p><p><blockquote>毫无疑问，特斯拉的增长令人印象深刻，但毫无疑问，制造和销售汽车的核心业务并未盈利。特斯拉投资者需要问自己的问题是：如果特斯拉现在没有盈利，当美国电动汽车几乎没有竞争时，当传统汽车制造商的大量竞争到来时会发生什么？</blockquote></p><p> A ton of competition is coming</p><p><blockquote>大量的竞争即将到来</blockquote></p><p> Tesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.</p><p><blockquote>特斯拉的品牌拥有狂热的追随者，因此无论其他选择如何，有些人都会购买特斯拉汽车。但对大多数人来说，情况不太可能如此。</blockquote></p><p> The number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.<b>General Motors</b>(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.</p><p><blockquote>未来几年，美国可供购买的电动汽车数量将呈爆炸式增长。<b>通用汽车</b>（纽约证券交易所股票代码：GM）计划到2025年在全球推出30款电动汽车，其中三分之二将在北美销售。该公司的目标是到2025年在北美每年销售100万辆电动汽车。</blockquote></p><p> Those models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.</p><p><blockquote>这些车型包括该公司GMC悍马和雪佛兰索罗德皮卡的电动版本。特斯拉拥有忠实的客户群，但通用汽车也是如此。多年来一直购买通用汽车卡车的人在决定转向电动汽车时可能会坚持使用通用汽车。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c651279799dfdf96552379a7b5d448a9\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> IMAGE SOURCE: GM.</p><p><blockquote>图片来源：通用汽车。</blockquote></p><p> <b>Ford</b>(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.</p><p><blockquote><b>福特</b>（纽约证券交易所股票代码：F）也在向电动汽车投入资源，到2025年为电动和自动驾驶汽车拨款290亿美元。该公司的计划包括F-150皮卡车的电动版本，预计将于2022年中期投入生产线。鉴于通用和福特的计划，特斯拉要抢走利润丰厚的皮卡市场份额并不容易。</blockquote></p><p> Other car companies have big plans, as well.<b>Volkswagen</b>(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.<b>Toyota</b>(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.</p><p><blockquote>其他汽车公司也有宏伟的计划。<b>大众汽车</b>(OTC：VWAGY)每年已销售超过200,000辆电动汽车，预计今年这一数字将翻一番。该公司的目标是到2025年每年销售约200万辆电动汽车，并预计到2030年推出70款电动汽车车型。<b>丰田</b>(NYSE：TM)将在2025年之前推出15款新电动汽车，其中一些将属于新的丰田bZ子品牌。这样的例子不胜枚举。</blockquote></p><p> Not only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.</p><p><blockquote>所有这些电动汽车不仅将为消费者提供特斯拉之外的一系列选择，而且随着其他汽车制造商生产越来越多的电动汽车，它们还将剥夺特斯拉的监管信贷收入。</blockquote></p><p> None of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.</p><p><blockquote>这并不是说特斯拉不能在一个面临更多竞争的世界中取得成功。但每年盈利都会变得越来越困难。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/30/1-question-tesla-investors-need-to-ask-themselves/\">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":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/04/30/1-question-tesla-investors-need-to-ask-themselves/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146129324","content_text":"Electric-car companyTesla(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.\nThe problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.\nRegulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.\nTesla's bottom line got an additional boost in the first quarter from a gain onthe sale ofBitcointo the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:\n\nDATA SOURCE: TESLA. CHART BY AUTHOR.\nThere's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?\nA ton of competition is coming\nTesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.\nThe number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.General Motors(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.\nThose models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.\n\nIMAGE SOURCE: GM.\nFord(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.\nOther car companies have big plans, as well.Volkswagen(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.Toyota(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.\nNot only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.\nNone of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":868,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169803617,"gmtCreate":1623825121139,"gmtModify":1631893585346,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"ooo","listText":"ooo","text":"ooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169803617","repostId":"1141264092","repostType":4,"repost":{"id":"1141264092","kind":"news","pubTimestamp":1623811561,"share":"https://www.laohu8.com/m/news/1141264092?lang=zh_CN&edition=full","pubTime":"2021-06-16 10:46","market":"us","language":"en","title":"Is Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141264092","media":"seekingalpha","summary":"Summary\n\nFSR is up 72% since my bullish call just a month ago.\nWith that sort of move, caution is wa","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>FSR is up 72% since my bullish call just a month ago.</li>  <li>With that sort of move, caution is warranted on further gains.</li>  <li>New fundamental developments lay out the future path for Fisker.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8cfc5757fb9bcd2dad4f529e916092c\" tg-width=\"768\" tg-height=\"512\"><span>jonathanfilskov-photography/iStock via Getty Images</span></p><p><blockquote><ul><li>自一个月前我看涨看涨期权以来，FSR已上涨72%。</li><li>有了这样的举措，进一步上涨需要谨慎。</li><li>新的基本发展为菲斯克规划了未来的道路。</li></ul><p class=\"t-img-caption\"><span>jonathanfilskov—摄影/iStock来自Getty Images</span></p></blockquote></p><p> The electric vehicle space has been, let’s say, volatile over the past year or so. OG&nbsp;<b>Tesla</b>(TSLA) continues to dwarf all other comers in terms of market cap, but there are numerous new competitors, many of which are so new, they don’t even have any revenue yet. One such example is the reincarnated&nbsp;<b>Fisker Inc.</b>(FSR), which is founder Henrik Fisker’s second go at making an electric automaker.</p><p><blockquote>可以说，电动汽车领域在过去一年左右的时间里一直不稳定。OG<b>特斯拉</b>(TSLA)在市值方面继续让所有其他竞争者相形见绌，但也有许多新的竞争对手，其中许多都是如此之新，他们甚至还没有任何收入。一个这样的例子就是转世<b>菲斯克公司。</b>(FSR)，这是创始人亨里克·菲斯克(Henrik Fisker)第二次尝试打造电动汽车制造商。</blockquote></p><p> I wrote apieceon Fisker about a month ago when the share price was $10.69, saying it was a great time to buy. Shares are 72% higher than that today – a<i>massive</i>move in the space of four weeks – but such is the nature of the game in electric vehicles. Up 72%, the big question is, do you continue to hold? In this case, I think the answer is “no”, but with some caveats.</p><p><blockquote>大约一个月前，当股价为10.69美元时，我在Fisker上写了一篇文章，说现在是买入的好时机。股价比今天高出72%-a<i>巨大的</i>在四个星期的时间内移动——但这就是电动汽车游戏的本质。涨72%，大问题是，你继续持有吗？在这种情况下，我认为答案是“不”，但有一些警告。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b7e34a03823eba6302e3194baa808ce\" tg-width=\"640\" tg-height=\"615\"><span>Source: StockCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：股票图表</span></p></blockquote></p><p> First, let’s take a look at the chart, which highlights just how volatile this thing really is. Prior support in the low-$14s was lost during the last downturn, and the stock eventually bottomed at $9.61. Since then, shares have<i>doubled</i>, and we’ve seen a complete reset in terms of sentiment for Fisker. One thing you must understand is that Fisker and other zero-revenue EV makers trade on momentum and sentiment rather than fundamentals, so you must be nimble.</p><p><blockquote>首先，让我们看一下图表，它强调了这件事的波动性。在上次低迷期间失去了之前14美元低点的支撑，该股最终跌至9.61美元。此后，股票<i>加倍</i>，我们已经看到菲斯克的情绪完全重置。你必须明白的一件事是，菲斯克和其他零收入电动汽车制造商根据势头和情绪而不是基本面进行交易，所以你必须灵活。</blockquote></p><p> I would look for that low-$14 area to hold as support on the next pullback, but I’ll also note that it isn’t all that strong, having failed miserably last time there was a selloff. But if the stock is going to bounce, that will likely be the area it will happen.</p><p><blockquote>我会寻找14美元的低点区域作为下一次回调的支撑，但我也会注意到，它并没有那么强，上次抛售时惨遭失败。但如果股票要反弹，那很可能就是反弹的区域。</blockquote></p><p> I’ll also note the PPO is very overbought, and is very close to the same levels where prior rallies have lost steam and eventually rolled over. That means the odds of a further rally from here are greatly diminishing, as the bulls have made a Herculean push already, and there are signs the push is ending, at least temporarily.</p><p><blockquote>我还会注意到PPO非常超买，非常接近之前反弹失去动力并最终逆转的水平。这意味着从这里进一步反弹的可能性大大降低，因为多头已经做出了巨大的推动，而且有迹象表明这种推动正在结束，至少是暂时的。</blockquote></p><p> The 14-day RSI is showing similar behavior, as it is rolling over after reaching extreme overbought conditions. The point of all of this is that this stock has doubled in the space of a month, and the rally looks tired. I don’t see a reasonable path meaningfully higher here, but in the EV space, anything can happen. But the bottom line is that the rally looks tired to me, and I think the most prudent course of action is to take profits and wait for a lower re-entry.</p><p><blockquote>14天RSI也表现出类似的行为，因为它在达到极端超买条件后正在滚动。所有这一切的要点是，这只股票在一个月内翻了一番，而且涨势看起来很累。我在这里看不到有意义的更高的合理路径，但在电动汽车领域，任何事情都可能发生。但最重要的是，对我来说，反弹看起来很累，我认为最谨慎的做法是获利了结并等待更低的重新入场。</blockquote></p><p> <b>New developments</b></p><p><blockquote><b>新发展</b></blockquote></p><p> There have been some interesting developments since my last update on Fisker, and ones that have the potential to drive the share price over time.</p><p><blockquote>自从我上次更新菲斯克以来，出现了一些有趣的发展，随着时间的推移，这些发展有可能推动股价上涨。</blockquote></p><p> First up, short interest in Fisker is soaring, and after the numerous highly-shorted stocks we’ve seen go to the moon this year, that’s worth noting. Below is Fisker’s short interest for reference.</p><p><blockquote>首先，对菲斯克的空头兴趣正在飙升，在我们今年看到众多被高度做空的股票登上月球之后，这一点值得注意。以下是菲斯克的空头权益，供参考。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fd732eb0644d9370ff55d207057d6485\" tg-width=\"640\" tg-height=\"364\"><span>Source: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> Short interest has roughly quadrupled since February, and is rising all the time. The kinds of rallies that we’ve seen in Fisker can cause short squeezes because shorts on the wrong side of a parabolic rally can often panic buy to cover their shorts, leading to a short squeeze.</p><p><blockquote>自二月份以来，空头兴趣大约翻了两番，并且一直在上升。我们在菲斯克看到的这种反弹可能会导致空头挤压，因为抛物线反弹错误一侧的空头通常会恐慌性买入以回补空头，从而导致空头挤压。</blockquote></p><p> Fisker’s current rally lacks the volume of a short squeeze, so I firmly believe this rally is not a result of high short interest, but is instead buyers just buying the stock. If shorts throw in the towel, Fisker could squeeze a lot higher than it is today. To be clear, I’m not saying Fisker is the next short squeeze, but what I am saying is that 45M shares short is roughly seven days’ worth of normal volume, so it’s significant. I certainly also would not short Fisker at these levels for that reason.</p><p><blockquote>菲斯克目前的反弹缺乏轧空量，因此我坚信这次反弹并不是空头兴趣高的结果，而是买家只是购买该股票。如果空头认输，菲斯克的股价可能会比今天高得多。需要明确的是，我并不是说菲斯克是下一个轧空者，但我想说的是，4500万股空头大约相当于7天的正常交易量，因此意义重大。出于这个原因，我当然也不会在这些水平上做空菲斯克。</blockquote></p><p> In short, I do not believe Fisker is the next short squeeze candidate because squeezes usually occur when a stock is at or near a top, and thus most or all short sellers are underwater. Fisker isn't anywhere close to its former high, and given how tired the rally looks today, I see the odds of that occurring as low.</p><p><blockquote>简而言之，我不认为菲斯克是下一个轧空候选者，因为轧空通常发生在股票处于或接近顶部时，因此大多数或所有卖空者都处于水下。菲斯克远未接近之前的高点，考虑到今天的反弹看起来有多累，我认为发生这种情况的可能性很低。</blockquote></p><p></p><p> From a fundamental perspective, Fisker continues to make progress towards making production a reality of its Ocean SUV, as evidenced in itsQ1 report. The company ended the quarter with $985 million in cash, which is good enough for about 10 quarters at the current run rate; in Q1, the company spent $29 million on operating activities, and $66 million in capex. The company also said the majority of the Ocean has been sourced, which is improving cost visibility as prior questions have become answers.</p><p><blockquote>从基本面角度来看，菲斯克在实现Ocean SUV的生产方面继续取得进展，正如其第一季度报告所证明的那样。该公司本季度末拥有9.85亿美元现金，按照目前的运行速度，这足以维持约10个季度；第一季度，该公司的运营活动支出为2900万美元，资本支出为6600万美元。该公司还表示，大部分海洋已经采购完毕，这提高了成本可见性，因为之前的问题已经成为答案。</blockquote></p><p> I don’t think Fisker has unlimited runway in terms of cash, but it should have enough to get to production of the Ocean, which is still slated for late this year, or early next year. That’s very important because Fisker needs the cash to start rolling in fairly soon, or further capital raises will be necessary.</p><p><blockquote>我认为菲斯克在现金方面没有无限的跑道，但它应该有足够的资金来生产海洋，该项目仍定于今年年底或明年初。这非常重要，因为菲斯克需要现金尽快开始流入，否则就需要进一步融资。</blockquote></p><p> Fisker says it has 16k reservations for Oceans at this point, but as we know, reservations for new vehicles are very low cost for the consumer, and don’t represent an obligation to buy. Given this, I take them with a grain of salt. But on the plus side, Fisker has done essentially no advertising, and I’d be willing to bet the vast majority of Americans have no idea what Fisker is. That indicates that there may be some legs to the Ocean, but we’ll have to wait and see.</p><p><blockquote>Fisker表示，目前它有16,000辆Oceans预订，但正如我们所知，新车的预订对于消费者来说成本非常低，并且并不代表购买义务。有鉴于此，我对它们持保留态度。但从好的方面来说，菲斯克基本上没有做广告，我敢打赌绝大多数美国人不知道菲斯克是什么。这表明可能有一些腿到海洋，但我们必须拭目以待。</blockquote></p><p> Perhaps most importantly, Fisker has an ambitious plan to produce a sub-$30k EV, currently calledProject PEAR. The company has signed Foxconn to make the vehicle, which won’t be available for another two years or so. But it represents another step towards Fisker becoming more mainstream, and if the company can execute, it could grab big chunks of market share. I’ll caveat that producing sub-$30k EVs is no small task because the batteries are very expensive. This is why others have struggled to do the same thing, and I have no reason to think Fisker won’t struggle as well. However, if the Ocean is a success, and provides the cash to develop PEAR, Fisker could be off to the races. PEAR is just an idea at this point, so don’t get too excited, but Fisker certainly has grand plans.</p><p><blockquote>也许最重要的是，菲斯克有一个雄心勃勃的计划，生产一款售价低于3万美元的电动汽车，目前称为Project Pear。该公司已与富士康签约生产这款车，但这款车还需要两年左右的时间才能上市。但这代表着菲斯克向变得更加主流迈出了又一步，如果该公司能够执行，它可能会抢占大部分市场份额。我要警告的是，生产3万美元以下的电动汽车不是一项小任务，因为电池非常昂贵。这就是为什么其他人也在努力做同样的事情，我没有理由认为菲斯克不会同样努力。然而，如果Ocean取得成功，并提供资金来开发PEAR，菲斯克可能会参加比赛。PEAR目前只是一个想法，所以不要太兴奋，但菲斯克肯定有宏伟的计划。</blockquote></p><p> <b>Valuation remains mixed</b></p><p><blockquote><b>估值仍然好坏参半</b></blockquote></p><p> The tricky thing about valuing startups is that the targets – whether it is revenue or earnings – move all the time. In Fisker’s case, it is apparent that some targets were probably a bit optimistic, especially for revenue.</p><p><blockquote>对初创公司进行估值的棘手之处在于，目标——无论是收入还是盈利——一直在变化。就菲斯克而言，显然有些目标可能有点乐观，尤其是在收入方面。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d52fe37a0a60e26d5c3aba548bd4b0b0\" tg-width=\"640\" tg-height=\"166\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Estimates for the out years have come up slightly in the past month – likely due to analysts building PEAR into projections – but in the past six months, estimates are off by a third in some cases. You have to remember if you buy this stock that Fisker isn’t slated to receive<i>any</i>revenue until next year, and even then, progress will start slowly. But if Fisker does achieve $8+ billion in revenue by 2025, buying the stock today will have proven a prescient move. There are just so many steps between now and then that the ride will be extremely volatile to say the least.</p><p><blockquote>过去一个月，对未来几年的预测略有上升——可能是由于分析师将PEAR纳入预测——但在过去六个月中，在某些情况下，预测下降了三分之一。你必须记住，如果你购买了菲斯克不会收到的这只股票<i>任何</i>收入直到明年，即使到那时，进展也会缓慢开始。但如果菲斯克到2025年确实实现80多亿美元的收入，那么今天购买该股票将被证明是一个有先见之明的举动。从现在到那时有太多的步骤，至少可以说，旅程将会非常不稳定。</blockquote></p><p> That is illustrated nicely by EPS estimates.</p><p><blockquote>每股收益估计很好地说明了这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/730bfe2971ecbf2c150c244c474bd7c7\" tg-width=\"640\" tg-height=\"285\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> EPS is almost certainly going to be negative for at least this year and next year, but if production ramps the way it should for Ocean, Fisker has an outside chance at hitting breakeven in 2023. If scale is achieved, we could see very strong EPS, with 2025 current at $3.72 per share, and 2026 at $4.95. If Ocean succeeds, and Fisker can produce PEAR in sufficient numbers, these estimates could become reality. But you can see the consternation among market participants in that a stock with $5 in EPS five years from now is trading for $18,<i>after</i>doubling in a month. In other words, the share price is pricing in the fact that these estimates are simply guesses at this point. Said another way, if there was some certainty around $5 in EPS in 2026, it would be reasonable to see a multiple of 10 or 12 on that number, or a share price of $50 to $60. We're at a small fraction of that, which is pricing in the massive uncertainty of the company achieving these results.</p><p><blockquote>几乎可以肯定，至少在今年和明年，每股收益将为负值，但如果Ocean的产量按照应有的方式增长，Fisker就有机会在2023年实现盈亏平衡。如果实现规模，我们可能会看到非常强劲的每股收益，2025年目前为每股3.72美元，2026年为每股4.95美元。如果Ocean成功，并且Fisker能够生产足够数量的PEAR，这些估计可能会成为现实。但你可以看到市场参与者的惊愕，因为一只五年后每股收益为5美元的股票现在的交易价格为18美元，<i>之后</i>一个月内翻倍。换句话说，股价反映了这样一个事实，即这些估计目前只是猜测。换句话说，如果2026年每股收益在5美元左右有一定的确定性，那么看到该数字的10或12倍，或者股价为50至60美元是合理的。我们只是其中的一小部分，这反映了公司实现这些结果的巨大不确定性。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> The bottom line on Fisker is that the company is so far from making any sort of meaningful revenue – and even further from profits – that it is mostly a momentum trade as a result. The stock has doubled in the past month, and I see cracks in the rally’s strength, so I think it is once again time to take profits and wait for a lower re-entry price.</p><p><blockquote>菲斯克的底线是，该公司远未获得任何有意义的收入，甚至更远未获得利润，因此它主要是一种动量交易。该股在过去一个月里翻了一番，我看到反弹的力度出现了裂缝，因此我认为是时候再次获利了结并等待更低的重新入场价格了。</blockquote></p><p> I think Fisker has the potential to be a winner in the long-term, but the path to get there is fraught with obstacles. I once again see potential and current price fairly balanced, and for that reason, I’m back to neutral on Fisker.</p><p><blockquote>我认为菲斯克有潜力成为长期赢家，但实现这一目标的道路充满了障碍。我再次看到潜在价格和当前价格相当平衡，因此，我对菲斯克恢复中立。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-16 10:46</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>FSR is up 72% since my bullish call just a month ago.</li>  <li>With that sort of move, caution is warranted on further gains.</li>  <li>New fundamental developments lay out the future path for Fisker.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8cfc5757fb9bcd2dad4f529e916092c\" tg-width=\"768\" tg-height=\"512\"><span>jonathanfilskov-photography/iStock via Getty Images</span></p><p><blockquote><ul><li>自一个月前我看涨看涨期权以来，FSR已上涨72%。</li><li>有了这样的举措，进一步上涨需要谨慎。</li><li>新的基本发展为菲斯克规划了未来的道路。</li></ul><p class=\"t-img-caption\"><span>jonathanfilskov—摄影/iStock来自Getty Images</span></p></blockquote></p><p> The electric vehicle space has been, let’s say, volatile over the past year or so. OG&nbsp;<b>Tesla</b>(TSLA) continues to dwarf all other comers in terms of market cap, but there are numerous new competitors, many of which are so new, they don’t even have any revenue yet. One such example is the reincarnated&nbsp;<b>Fisker Inc.</b>(FSR), which is founder Henrik Fisker’s second go at making an electric automaker.</p><p><blockquote>可以说，电动汽车领域在过去一年左右的时间里一直不稳定。OG<b>特斯拉</b>(TSLA)在市值方面继续让所有其他竞争者相形见绌，但也有许多新的竞争对手，其中许多都是如此之新，他们甚至还没有任何收入。一个这样的例子就是转世<b>菲斯克公司。</b>(FSR)，这是创始人亨里克·菲斯克(Henrik Fisker)第二次尝试打造电动汽车制造商。</blockquote></p><p> I wrote apieceon Fisker about a month ago when the share price was $10.69, saying it was a great time to buy. Shares are 72% higher than that today – a<i>massive</i>move in the space of four weeks – but such is the nature of the game in electric vehicles. Up 72%, the big question is, do you continue to hold? In this case, I think the answer is “no”, but with some caveats.</p><p><blockquote>大约一个月前，当股价为10.69美元时，我在Fisker上写了一篇文章，说现在是买入的好时机。股价比今天高出72%-a<i>巨大的</i>在四个星期的时间内移动——但这就是电动汽车游戏的本质。涨72%，大问题是，你继续持有吗？在这种情况下，我认为答案是“不”，但有一些警告。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b7e34a03823eba6302e3194baa808ce\" tg-width=\"640\" tg-height=\"615\"><span>Source: StockCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：股票图表</span></p></blockquote></p><p> First, let’s take a look at the chart, which highlights just how volatile this thing really is. Prior support in the low-$14s was lost during the last downturn, and the stock eventually bottomed at $9.61. Since then, shares have<i>doubled</i>, and we’ve seen a complete reset in terms of sentiment for Fisker. One thing you must understand is that Fisker and other zero-revenue EV makers trade on momentum and sentiment rather than fundamentals, so you must be nimble.</p><p><blockquote>首先，让我们看一下图表，它强调了这件事的波动性。在上次低迷期间失去了之前14美元低点的支撑，该股最终跌至9.61美元。此后，股票<i>加倍</i>，我们已经看到菲斯克的情绪完全重置。你必须明白的一件事是，菲斯克和其他零收入电动汽车制造商根据势头和情绪而不是基本面进行交易，所以你必须灵活。</blockquote></p><p> I would look for that low-$14 area to hold as support on the next pullback, but I’ll also note that it isn’t all that strong, having failed miserably last time there was a selloff. But if the stock is going to bounce, that will likely be the area it will happen.</p><p><blockquote>我会寻找14美元的低点区域作为下一次回调的支撑，但我也会注意到，它并没有那么强，上次抛售时惨遭失败。但如果股票要反弹，那很可能就是反弹的区域。</blockquote></p><p> I’ll also note the PPO is very overbought, and is very close to the same levels where prior rallies have lost steam and eventually rolled over. That means the odds of a further rally from here are greatly diminishing, as the bulls have made a Herculean push already, and there are signs the push is ending, at least temporarily.</p><p><blockquote>我还会注意到PPO非常超买，非常接近之前反弹失去动力并最终逆转的水平。这意味着从这里进一步反弹的可能性大大降低，因为多头已经做出了巨大的推动，而且有迹象表明这种推动正在结束，至少是暂时的。</blockquote></p><p> The 14-day RSI is showing similar behavior, as it is rolling over after reaching extreme overbought conditions. The point of all of this is that this stock has doubled in the space of a month, and the rally looks tired. I don’t see a reasonable path meaningfully higher here, but in the EV space, anything can happen. But the bottom line is that the rally looks tired to me, and I think the most prudent course of action is to take profits and wait for a lower re-entry.</p><p><blockquote>14天RSI也表现出类似的行为，因为它在达到极端超买条件后正在滚动。所有这一切的要点是，这只股票在一个月内翻了一番，而且涨势看起来很累。我在这里看不到有意义的更高的合理路径，但在电动汽车领域，任何事情都可能发生。但最重要的是，对我来说，反弹看起来很累，我认为最谨慎的做法是获利了结并等待更低的重新入场。</blockquote></p><p> <b>New developments</b></p><p><blockquote><b>新发展</b></blockquote></p><p> There have been some interesting developments since my last update on Fisker, and ones that have the potential to drive the share price over time.</p><p><blockquote>自从我上次更新菲斯克以来，出现了一些有趣的发展，随着时间的推移，这些发展有可能推动股价上涨。</blockquote></p><p> First up, short interest in Fisker is soaring, and after the numerous highly-shorted stocks we’ve seen go to the moon this year, that’s worth noting. Below is Fisker’s short interest for reference.</p><p><blockquote>首先，对菲斯克的空头兴趣正在飙升，在我们今年看到众多被高度做空的股票登上月球之后，这一点值得注意。以下是菲斯克的空头权益，供参考。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fd732eb0644d9370ff55d207057d6485\" tg-width=\"640\" tg-height=\"364\"><span>Source: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> Short interest has roughly quadrupled since February, and is rising all the time. The kinds of rallies that we’ve seen in Fisker can cause short squeezes because shorts on the wrong side of a parabolic rally can often panic buy to cover their shorts, leading to a short squeeze.</p><p><blockquote>自二月份以来，空头兴趣大约翻了两番，并且一直在上升。我们在菲斯克看到的这种反弹可能会导致空头挤压，因为抛物线反弹错误一侧的空头通常会恐慌性买入以回补空头，从而导致空头挤压。</blockquote></p><p> Fisker’s current rally lacks the volume of a short squeeze, so I firmly believe this rally is not a result of high short interest, but is instead buyers just buying the stock. If shorts throw in the towel, Fisker could squeeze a lot higher than it is today. To be clear, I’m not saying Fisker is the next short squeeze, but what I am saying is that 45M shares short is roughly seven days’ worth of normal volume, so it’s significant. I certainly also would not short Fisker at these levels for that reason.</p><p><blockquote>菲斯克目前的反弹缺乏轧空量，因此我坚信这次反弹并不是空头兴趣高的结果，而是买家只是购买该股票。如果空头认输，菲斯克的股价可能会比今天高得多。需要明确的是，我并不是说菲斯克是下一个轧空者，但我想说的是，4500万股空头大约相当于7天的正常交易量，因此意义重大。出于这个原因，我当然也不会在这些水平上做空菲斯克。</blockquote></p><p> In short, I do not believe Fisker is the next short squeeze candidate because squeezes usually occur when a stock is at or near a top, and thus most or all short sellers are underwater. Fisker isn't anywhere close to its former high, and given how tired the rally looks today, I see the odds of that occurring as low.</p><p><blockquote>简而言之，我不认为菲斯克是下一个轧空候选者，因为轧空通常发生在股票处于或接近顶部时，因此大多数或所有卖空者都处于水下。菲斯克远未接近之前的高点，考虑到今天的反弹看起来有多累，我认为发生这种情况的可能性很低。</blockquote></p><p></p><p> From a fundamental perspective, Fisker continues to make progress towards making production a reality of its Ocean SUV, as evidenced in itsQ1 report. The company ended the quarter with $985 million in cash, which is good enough for about 10 quarters at the current run rate; in Q1, the company spent $29 million on operating activities, and $66 million in capex. The company also said the majority of the Ocean has been sourced, which is improving cost visibility as prior questions have become answers.</p><p><blockquote>从基本面角度来看，菲斯克在实现Ocean SUV的生产方面继续取得进展，正如其第一季度报告所证明的那样。该公司本季度末拥有9.85亿美元现金，按照目前的运行速度，这足以维持约10个季度；第一季度，该公司的运营活动支出为2900万美元，资本支出为6600万美元。该公司还表示，大部分海洋已经采购完毕，这提高了成本可见性，因为之前的问题已经成为答案。</blockquote></p><p> I don’t think Fisker has unlimited runway in terms of cash, but it should have enough to get to production of the Ocean, which is still slated for late this year, or early next year. That’s very important because Fisker needs the cash to start rolling in fairly soon, or further capital raises will be necessary.</p><p><blockquote>我认为菲斯克在现金方面没有无限的跑道，但它应该有足够的资金来生产海洋，该项目仍定于今年年底或明年初。这非常重要，因为菲斯克需要现金尽快开始流入，否则就需要进一步融资。</blockquote></p><p> Fisker says it has 16k reservations for Oceans at this point, but as we know, reservations for new vehicles are very low cost for the consumer, and don’t represent an obligation to buy. Given this, I take them with a grain of salt. But on the plus side, Fisker has done essentially no advertising, and I’d be willing to bet the vast majority of Americans have no idea what Fisker is. That indicates that there may be some legs to the Ocean, but we’ll have to wait and see.</p><p><blockquote>Fisker表示，目前它有16,000辆Oceans预订，但正如我们所知，新车的预订对于消费者来说成本非常低，并且并不代表购买义务。有鉴于此，我对它们持保留态度。但从好的方面来说，菲斯克基本上没有做广告，我敢打赌绝大多数美国人不知道菲斯克是什么。这表明可能有一些腿到海洋，但我们必须拭目以待。</blockquote></p><p> Perhaps most importantly, Fisker has an ambitious plan to produce a sub-$30k EV, currently calledProject PEAR. The company has signed Foxconn to make the vehicle, which won’t be available for another two years or so. But it represents another step towards Fisker becoming more mainstream, and if the company can execute, it could grab big chunks of market share. I’ll caveat that producing sub-$30k EVs is no small task because the batteries are very expensive. This is why others have struggled to do the same thing, and I have no reason to think Fisker won’t struggle as well. However, if the Ocean is a success, and provides the cash to develop PEAR, Fisker could be off to the races. PEAR is just an idea at this point, so don’t get too excited, but Fisker certainly has grand plans.</p><p><blockquote>也许最重要的是，菲斯克有一个雄心勃勃的计划，生产一款售价低于3万美元的电动汽车，目前称为Project Pear。该公司已与富士康签约生产这款车，但这款车还需要两年左右的时间才能上市。但这代表着菲斯克向变得更加主流迈出了又一步，如果该公司能够执行，它可能会抢占大部分市场份额。我要警告的是，生产3万美元以下的电动汽车不是一项小任务，因为电池非常昂贵。这就是为什么其他人也在努力做同样的事情，我没有理由认为菲斯克不会同样努力。然而，如果Ocean取得成功，并提供资金来开发PEAR，菲斯克可能会参加比赛。PEAR目前只是一个想法，所以不要太兴奋，但菲斯克肯定有宏伟的计划。</blockquote></p><p> <b>Valuation remains mixed</b></p><p><blockquote><b>估值仍然好坏参半</b></blockquote></p><p> The tricky thing about valuing startups is that the targets – whether it is revenue or earnings – move all the time. In Fisker’s case, it is apparent that some targets were probably a bit optimistic, especially for revenue.</p><p><blockquote>对初创公司进行估值的棘手之处在于，目标——无论是收入还是盈利——一直在变化。就菲斯克而言，显然有些目标可能有点乐观，尤其是在收入方面。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d52fe37a0a60e26d5c3aba548bd4b0b0\" tg-width=\"640\" tg-height=\"166\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Estimates for the out years have come up slightly in the past month – likely due to analysts building PEAR into projections – but in the past six months, estimates are off by a third in some cases. You have to remember if you buy this stock that Fisker isn’t slated to receive<i>any</i>revenue until next year, and even then, progress will start slowly. But if Fisker does achieve $8+ billion in revenue by 2025, buying the stock today will have proven a prescient move. There are just so many steps between now and then that the ride will be extremely volatile to say the least.</p><p><blockquote>过去一个月，对未来几年的预测略有上升——可能是由于分析师将PEAR纳入预测——但在过去六个月中，在某些情况下，预测下降了三分之一。你必须记住，如果你购买了菲斯克不会收到的这只股票<i>任何</i>收入直到明年，即使到那时，进展也会缓慢开始。但如果菲斯克到2025年确实实现80多亿美元的收入，那么今天购买该股票将被证明是一个有先见之明的举动。从现在到那时有太多的步骤，至少可以说，旅程将会非常不稳定。</blockquote></p><p> That is illustrated nicely by EPS estimates.</p><p><blockquote>每股收益估计很好地说明了这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/730bfe2971ecbf2c150c244c474bd7c7\" tg-width=\"640\" tg-height=\"285\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> EPS is almost certainly going to be negative for at least this year and next year, but if production ramps the way it should for Ocean, Fisker has an outside chance at hitting breakeven in 2023. If scale is achieved, we could see very strong EPS, with 2025 current at $3.72 per share, and 2026 at $4.95. If Ocean succeeds, and Fisker can produce PEAR in sufficient numbers, these estimates could become reality. But you can see the consternation among market participants in that a stock with $5 in EPS five years from now is trading for $18,<i>after</i>doubling in a month. In other words, the share price is pricing in the fact that these estimates are simply guesses at this point. Said another way, if there was some certainty around $5 in EPS in 2026, it would be reasonable to see a multiple of 10 or 12 on that number, or a share price of $50 to $60. We're at a small fraction of that, which is pricing in the massive uncertainty of the company achieving these results.</p><p><blockquote>几乎可以肯定，至少在今年和明年，每股收益将为负值，但如果Ocean的产量按照应有的方式增长，Fisker就有机会在2023年实现盈亏平衡。如果实现规模，我们可能会看到非常强劲的每股收益，2025年目前为每股3.72美元，2026年为每股4.95美元。如果Ocean成功，并且Fisker能够生产足够数量的PEAR，这些估计可能会成为现实。但你可以看到市场参与者的惊愕，因为一只五年后每股收益为5美元的股票现在的交易价格为18美元，<i>之后</i>一个月内翻倍。换句话说，股价反映了这样一个事实，即这些估计目前只是猜测。换句话说，如果2026年每股收益在5美元左右有一定的确定性，那么看到该数字的10或12倍，或者股价为50至60美元是合理的。我们只是其中的一小部分，这反映了公司实现这些结果的巨大不确定性。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> The bottom line on Fisker is that the company is so far from making any sort of meaningful revenue – and even further from profits – that it is mostly a momentum trade as a result. The stock has doubled in the past month, and I see cracks in the rally’s strength, so I think it is once again time to take profits and wait for a lower re-entry price.</p><p><blockquote>菲斯克的底线是，该公司远未获得任何有意义的收入，甚至更远未获得利润，因此它主要是一种动量交易。该股在过去一个月里翻了一番，我看到反弹的力度出现了裂缝，因此我认为是时候再次获利了结并等待更低的重新入场价格了。</blockquote></p><p> I think Fisker has the potential to be a winner in the long-term, but the path to get there is fraught with obstacles. I once again see potential and current price fairly balanced, and for that reason, I’m back to neutral on Fisker.</p><p><blockquote>我认为菲斯克有潜力成为长期赢家，但实现这一目标的道路充满了障碍。我再次看到潜在价格和当前价格相当平衡，因此，我对菲斯克恢复中立。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4434973-is-fisker-the-next-short-squeeze\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FSR":"菲斯克"},"source_url":"https://seekingalpha.com/article/4434973-is-fisker-the-next-short-squeeze","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141264092","content_text":"Summary\n\nFSR is up 72% since my bullish call just a month ago.\nWith that sort of move, caution is warranted on further gains.\nNew fundamental developments lay out the future path for Fisker.\n\njonathanfilskov-photography/iStock via Getty Images\nThe electric vehicle space has been, let’s say, volatile over the past year or so. OG Tesla(TSLA) continues to dwarf all other comers in terms of market cap, but there are numerous new competitors, many of which are so new, they don’t even have any revenue yet. One such example is the reincarnated Fisker Inc.(FSR), which is founder Henrik Fisker’s second go at making an electric automaker.\nI wrote apieceon Fisker about a month ago when the share price was $10.69, saying it was a great time to buy. Shares are 72% higher than that today – amassivemove in the space of four weeks – but such is the nature of the game in electric vehicles. Up 72%, the big question is, do you continue to hold? In this case, I think the answer is “no”, but with some caveats.\nSource: StockCharts\nFirst, let’s take a look at the chart, which highlights just how volatile this thing really is. Prior support in the low-$14s was lost during the last downturn, and the stock eventually bottomed at $9.61. Since then, shares havedoubled, and we’ve seen a complete reset in terms of sentiment for Fisker. One thing you must understand is that Fisker and other zero-revenue EV makers trade on momentum and sentiment rather than fundamentals, so you must be nimble.\nI would look for that low-$14 area to hold as support on the next pullback, but I’ll also note that it isn’t all that strong, having failed miserably last time there was a selloff. But if the stock is going to bounce, that will likely be the area it will happen.\nI’ll also note the PPO is very overbought, and is very close to the same levels where prior rallies have lost steam and eventually rolled over. That means the odds of a further rally from here are greatly diminishing, as the bulls have made a Herculean push already, and there are signs the push is ending, at least temporarily.\nThe 14-day RSI is showing similar behavior, as it is rolling over after reaching extreme overbought conditions. The point of all of this is that this stock has doubled in the space of a month, and the rally looks tired. I don’t see a reasonable path meaningfully higher here, but in the EV space, anything can happen. But the bottom line is that the rally looks tired to me, and I think the most prudent course of action is to take profits and wait for a lower re-entry.\nNew developments\nThere have been some interesting developments since my last update on Fisker, and ones that have the potential to drive the share price over time.\nFirst up, short interest in Fisker is soaring, and after the numerous highly-shorted stocks we’ve seen go to the moon this year, that’s worth noting. Below is Fisker’s short interest for reference.\nSource: YCharts\nShort interest has roughly quadrupled since February, and is rising all the time. The kinds of rallies that we’ve seen in Fisker can cause short squeezes because shorts on the wrong side of a parabolic rally can often panic buy to cover their shorts, leading to a short squeeze.\nFisker’s current rally lacks the volume of a short squeeze, so I firmly believe this rally is not a result of high short interest, but is instead buyers just buying the stock. If shorts throw in the towel, Fisker could squeeze a lot higher than it is today. To be clear, I’m not saying Fisker is the next short squeeze, but what I am saying is that 45M shares short is roughly seven days’ worth of normal volume, so it’s significant. I certainly also would not short Fisker at these levels for that reason.\nIn short, I do not believe Fisker is the next short squeeze candidate because squeezes usually occur when a stock is at or near a top, and thus most or all short sellers are underwater. Fisker isn't anywhere close to its former high, and given how tired the rally looks today, I see the odds of that occurring as low.\nFrom a fundamental perspective, Fisker continues to make progress towards making production a reality of its Ocean SUV, as evidenced in itsQ1 report. The company ended the quarter with $985 million in cash, which is good enough for about 10 quarters at the current run rate; in Q1, the company spent $29 million on operating activities, and $66 million in capex. The company also said the majority of the Ocean has been sourced, which is improving cost visibility as prior questions have become answers.\nI don’t think Fisker has unlimited runway in terms of cash, but it should have enough to get to production of the Ocean, which is still slated for late this year, or early next year. That’s very important because Fisker needs the cash to start rolling in fairly soon, or further capital raises will be necessary.\nFisker says it has 16k reservations for Oceans at this point, but as we know, reservations for new vehicles are very low cost for the consumer, and don’t represent an obligation to buy. Given this, I take them with a grain of salt. But on the plus side, Fisker has done essentially no advertising, and I’d be willing to bet the vast majority of Americans have no idea what Fisker is. That indicates that there may be some legs to the Ocean, but we’ll have to wait and see.\nPerhaps most importantly, Fisker has an ambitious plan to produce a sub-$30k EV, currently calledProject PEAR. The company has signed Foxconn to make the vehicle, which won’t be available for another two years or so. But it represents another step towards Fisker becoming more mainstream, and if the company can execute, it could grab big chunks of market share. I’ll caveat that producing sub-$30k EVs is no small task because the batteries are very expensive. This is why others have struggled to do the same thing, and I have no reason to think Fisker won’t struggle as well. However, if the Ocean is a success, and provides the cash to develop PEAR, Fisker could be off to the races. PEAR is just an idea at this point, so don’t get too excited, but Fisker certainly has grand plans.\nValuation remains mixed\nThe tricky thing about valuing startups is that the targets – whether it is revenue or earnings – move all the time. In Fisker’s case, it is apparent that some targets were probably a bit optimistic, especially for revenue.\nSource:Seeking Alpha\nEstimates for the out years have come up slightly in the past month – likely due to analysts building PEAR into projections – but in the past six months, estimates are off by a third in some cases. You have to remember if you buy this stock that Fisker isn’t slated to receiveanyrevenue until next year, and even then, progress will start slowly. But if Fisker does achieve $8+ billion in revenue by 2025, buying the stock today will have proven a prescient move. There are just so many steps between now and then that the ride will be extremely volatile to say the least.\nThat is illustrated nicely by EPS estimates.\nSource:Seeking Alpha\nEPS is almost certainly going to be negative for at least this year and next year, but if production ramps the way it should for Ocean, Fisker has an outside chance at hitting breakeven in 2023. If scale is achieved, we could see very strong EPS, with 2025 current at $3.72 per share, and 2026 at $4.95. If Ocean succeeds, and Fisker can produce PEAR in sufficient numbers, these estimates could become reality. But you can see the consternation among market participants in that a stock with $5 in EPS five years from now is trading for $18,afterdoubling in a month. In other words, the share price is pricing in the fact that these estimates are simply guesses at this point. Said another way, if there was some certainty around $5 in EPS in 2026, it would be reasonable to see a multiple of 10 or 12 on that number, or a share price of $50 to $60. We're at a small fraction of that, which is pricing in the massive uncertainty of the company achieving these results.\nFinal thoughts\nThe bottom line on Fisker is that the company is so far from making any sort of meaningful revenue – and even further from profits – that it is mostly a momentum trade as a result. The stock has doubled in the past month, and I see cracks in the rally’s strength, so I think it is once again time to take profits and wait for a lower re-entry price.\nI think Fisker has the potential to be a winner in the long-term, but the path to get there is fraught with obstacles. I once again see potential and current price fairly balanced, and for that reason, I’m back to neutral on Fisker.","news_type":1,"symbols_score_info":{"FSR":0.9}},"isVote":1,"tweetType":1,"viewCount":2148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166534036,"gmtCreate":1624016838125,"gmtModify":1631893585266,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"hmmmm","listText":"hmmmm","text":"hmmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166534036","repostId":"1133723804","repostType":4,"repost":{"id":"1133723804","kind":"news","pubTimestamp":1624006285,"share":"https://www.laohu8.com/m/news/1133723804?lang=zh_CN&edition=full","pubTime":"2021-06-18 16:51","market":"fut","language":"en","title":"Some Commodities Have Now Wiped Out All of Their 2021 Rally<blockquote>一些大宗商品现已抹去2021年的所有涨势</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1133723804","media":"Bloomberg","summary":"(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the","content":"<p>(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the year and several more are close to doing so.</p><p><blockquote>（彭博社）——尽管人们都在谈论大宗商品繁荣，但一些市场现在已经抹去了今年的涨幅，还有几个市场即将抹去。</blockquote></p><p> Soybean futures have erased their 2021 advance, sliding more than 20% from an eight-year high reached in May, while corn and wheat have also tumbled. The Bloomberg Grains Spot Subindex slid the most since 2009 on Thursday, before edging higher on Friday as markets recovered some losses. Other commodities that have seen their big rallies evaporate include platinum, while once-surging nickel, sugar and even lumber have faltered.</p><p><blockquote>大豆期货抹去了2021年的涨幅，较5月份触及的八年高点下滑了20%以上，而玉米和小麦也大幅下跌。彭博谷物现货分类指数周四出现2009年以来最大跌幅，周五随着市场收复部分失地而小幅走高。其他大幅上涨的大宗商品包括铂金，而一度飙升的镍、糖甚至木材都出现了动摇。</blockquote></p><p> The fact that some markets are falling while others -- including crude oil and tin -- are holding gains underscores how unevenly the complex is responding to economies reopening and expanding once again. While those materials have climbed on strong demand fundamentals, others face their own unique headwinds, such as an easing supply worries in soybeans and monetary policy uncertainty in the case of gold and silver.</p><p><blockquote>一些市场正在下跌，而包括原油和锡在内的其他市场则保持上涨，这一事实凸显了该综合体对经济重新开放和再次扩张的反应是多么不平衡。虽然这些材料因强劲的需求基本面而上涨，但其他材料也面临着自己独特的阻力，例如大豆供应担忧缓解以及黄金和白银货币政策的不确定性。</blockquote></p><p> Some materials also took a hit this week on the Federal Reserve’s signals for interest-rate increases, a rising dollar and China’s efforts to slow inflation. The Asian country has said it will release metals from state reserves in a timely manner to push prices back to a normal range, ramping up efforts to cool the surge in commodities.</p><p><blockquote>本周，一些材料也因美联储加息信号、美元升值以及中国减缓通胀的努力而受到打击。这个亚洲国家表示，将及时从国家储备中释放金属，以推动价格回到正常范围，加大力度为大宗商品的飙升降温。</blockquote></p><p> “Risk-off is front and center thanks to the hawkish words from the Fed, which came on the back of the Chinese government-led directives over prior weeks,” said Michael Cuoco, head of hedge-fund sales for metals and bulk materials at StoneX Group. “Central-bank stimulus helped the markets gather steam in the spring of 2020, and now there is a bit of a macro reset.”</p><p><blockquote>StoneX集团金属和大宗材料对冲基金销售主管迈克尔·库柯(Michael Cuoco)表示：“由于美联储在前几周中国政府主导的指令的支持下发表了鹰派言论，避险情绪占据了主导地位。”“央行的刺激措施帮助市场在2020年春季积聚动力，现在宏观上出现了一些重置。”</blockquote></p><p> Even some of the markets that are clearly benefiting from the reopening are seeing a pullback, with copper heading for its worst week in more than a year. A big backwardation in many commodities and seasonality accounts for some of the recent slump as futures contracts roll over, while improving weather is hurting prices of many agricultural products.</p><p><blockquote>甚至一些明显受益于重新开放的市场也出现了回调，铜价将迎来一年多来最糟糕的一周。随着期货合约的展期，许多大宗商品的大幅现货溢价和季节性是近期暴跌的部分原因，而天气的改善正在损害许多农产品的价格。</blockquote></p><p> Soybean futures in Chicago bounced more than 2% on Friday, but are still heading for a weekly loss of about 11%, the worst performance in seven years. Corn and wheat also recovered a part of Thursday’s declines.Base metals were mixed following losses on Thursday. Copper fell 0.8% on the London Metal Exchange and headed for its biggest weekly loss since March 2020. Nickel rose 0.9%. Iron ore slid 1.2% in Singapore.Precious metals rebounded, after substantial declines. Gold added 1.1%, while palladium rose about 3% after Thursday’s 11% slump.Chinese futures caught up with the overnight rout. Rapeseed and soybean oil slid, and copper and zinc dropped.</p><p><blockquote>芝加哥大豆期货周五反弹逾2%，但仍向周跌幅约11%迈进，创七年来最差表现。玉米和小麦也收复了周四的部分跌幅。基本金属在周四下跌后涨跌互现。伦敦金属交易所铜价下跌0.8%，创2020年3月以来最大单周跌幅。镍涨0.9%。新加坡铁矿石下跌1.2%。贵金属在大幅下跌后反弹。黄金上涨1.1%，钯金在周四暴跌11%后上涨约3%。中国期货赶上了隔夜的溃败。菜籽、豆油下滑，铜、锌走低。</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Some Commodities Have Now Wiped Out All of Their 2021 Rally<blockquote>一些大宗商品现已抹去2021年的所有涨势</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\">\nSome Commodities Have Now Wiped Out All of Their 2021 Rally<blockquote>一些大宗商品现已抹去2021年的所有涨势</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-06-18 16:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the year and several more are close to doing so.</p><p><blockquote>（彭博社）——尽管人们都在谈论大宗商品繁荣，但一些市场现在已经抹去了今年的涨幅，还有几个市场即将抹去。</blockquote></p><p> Soybean futures have erased their 2021 advance, sliding more than 20% from an eight-year high reached in May, while corn and wheat have also tumbled. The Bloomberg Grains Spot Subindex slid the most since 2009 on Thursday, before edging higher on Friday as markets recovered some losses. Other commodities that have seen their big rallies evaporate include platinum, while once-surging nickel, sugar and even lumber have faltered.</p><p><blockquote>大豆期货抹去了2021年的涨幅，较5月份触及的八年高点下滑了20%以上，而玉米和小麦也大幅下跌。彭博谷物现货分类指数周四出现2009年以来最大跌幅，周五随着市场收复部分失地而小幅走高。其他大幅上涨的大宗商品包括铂金，而一度飙升的镍、糖甚至木材都出现了动摇。</blockquote></p><p> The fact that some markets are falling while others -- including crude oil and tin -- are holding gains underscores how unevenly the complex is responding to economies reopening and expanding once again. While those materials have climbed on strong demand fundamentals, others face their own unique headwinds, such as an easing supply worries in soybeans and monetary policy uncertainty in the case of gold and silver.</p><p><blockquote>一些市场正在下跌，而包括原油和锡在内的其他市场则保持上涨，这一事实凸显了该综合体对经济重新开放和再次扩张的反应是多么不平衡。虽然这些材料因强劲的需求基本面而上涨，但其他材料也面临着自己独特的阻力，例如大豆供应担忧缓解以及黄金和白银货币政策的不确定性。</blockquote></p><p> Some materials also took a hit this week on the Federal Reserve’s signals for interest-rate increases, a rising dollar and China’s efforts to slow inflation. The Asian country has said it will release metals from state reserves in a timely manner to push prices back to a normal range, ramping up efforts to cool the surge in commodities.</p><p><blockquote>本周，一些材料也因美联储加息信号、美元升值以及中国减缓通胀的努力而受到打击。这个亚洲国家表示，将及时从国家储备中释放金属，以推动价格回到正常范围，加大力度为大宗商品的飙升降温。</blockquote></p><p> “Risk-off is front and center thanks to the hawkish words from the Fed, which came on the back of the Chinese government-led directives over prior weeks,” said Michael Cuoco, head of hedge-fund sales for metals and bulk materials at StoneX Group. “Central-bank stimulus helped the markets gather steam in the spring of 2020, and now there is a bit of a macro reset.”</p><p><blockquote>StoneX集团金属和大宗材料对冲基金销售主管迈克尔·库柯(Michael Cuoco)表示：“由于美联储在前几周中国政府主导的指令的支持下发表了鹰派言论，避险情绪占据了主导地位。”“央行的刺激措施帮助市场在2020年春季积聚动力，现在宏观上出现了一些重置。”</blockquote></p><p> Even some of the markets that are clearly benefiting from the reopening are seeing a pullback, with copper heading for its worst week in more than a year. A big backwardation in many commodities and seasonality accounts for some of the recent slump as futures contracts roll over, while improving weather is hurting prices of many agricultural products.</p><p><blockquote>甚至一些明显受益于重新开放的市场也出现了回调，铜价将迎来一年多来最糟糕的一周。随着期货合约的展期，许多大宗商品的大幅现货溢价和季节性是近期暴跌的部分原因，而天气的改善正在损害许多农产品的价格。</blockquote></p><p> Soybean futures in Chicago bounced more than 2% on Friday, but are still heading for a weekly loss of about 11%, the worst performance in seven years. Corn and wheat also recovered a part of Thursday’s declines.Base metals were mixed following losses on Thursday. Copper fell 0.8% on the London Metal Exchange and headed for its biggest weekly loss since March 2020. Nickel rose 0.9%. Iron ore slid 1.2% in Singapore.Precious metals rebounded, after substantial declines. Gold added 1.1%, while palladium rose about 3% after Thursday’s 11% slump.Chinese futures caught up with the overnight rout. Rapeseed and soybean oil slid, and copper and zinc dropped.</p><p><blockquote>芝加哥大豆期货周五反弹逾2%，但仍向周跌幅约11%迈进，创七年来最差表现。玉米和小麦也收复了周四的部分跌幅。基本金属在周四下跌后涨跌互现。伦敦金属交易所铜价下跌0.8%，创2020年3月以来最大单周跌幅。镍涨0.9%。新加坡铁矿石下跌1.2%。贵金属在大幅下跌后反弹。黄金上涨1.1%，钯金在周四暴跌11%后上涨约3%。中国期货赶上了隔夜的溃败。菜籽、豆油下滑，铜、锌走低。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/amid-talk-supercycle-commodities-wipe-181326277.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/amid-talk-supercycle-commodities-wipe-181326277.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133723804","content_text":"(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the year and several more are close to doing so.\nSoybean futures have erased their 2021 advance, sliding more than 20% from an eight-year high reached in May, while corn and wheat have also tumbled. The Bloomberg Grains Spot Subindex slid the most since 2009 on Thursday, before edging higher on Friday as markets recovered some losses. Other commodities that have seen their big rallies evaporate include platinum, while once-surging nickel, sugar and even lumber have faltered.\nThe fact that some markets are falling while others -- including crude oil and tin -- are holding gains underscores how unevenly the complex is responding to economies reopening and expanding once again. While those materials have climbed on strong demand fundamentals, others face their own unique headwinds, such as an easing supply worries in soybeans and monetary policy uncertainty in the case of gold and silver.\nSome materials also took a hit this week on the Federal Reserve’s signals for interest-rate increases, a rising dollar and China’s efforts to slow inflation. The Asian country has said it will release metals from state reserves in a timely manner to push prices back to a normal range, ramping up efforts to cool the surge in commodities.\n“Risk-off is front and center thanks to the hawkish words from the Fed, which came on the back of the Chinese government-led directives over prior weeks,” said Michael Cuoco, head of hedge-fund sales for metals and bulk materials at StoneX Group. “Central-bank stimulus helped the markets gather steam in the spring of 2020, and now there is a bit of a macro reset.”\nEven some of the markets that are clearly benefiting from the reopening are seeing a pullback, with copper heading for its worst week in more than a year. A big backwardation in many commodities and seasonality accounts for some of the recent slump as futures contracts roll over, while improving weather is hurting prices of many agricultural products.\nSoybean futures in Chicago bounced more than 2% on Friday, but are still heading for a weekly loss of about 11%, the worst performance in seven years. Corn and wheat also recovered a part of Thursday’s declines.Base metals were mixed following losses on Thursday. Copper fell 0.8% on the London Metal Exchange and headed for its biggest weekly loss since March 2020. Nickel rose 0.9%. Iron ore slid 1.2% in Singapore.Precious metals rebounded, after substantial declines. Gold added 1.1%, while palladium rose about 3% after Thursday’s 11% slump.Chinese futures caught up with the overnight rout. Rapeseed and soybean oil slid, and copper and zinc dropped.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1559,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169892466,"gmtCreate":1623825983655,"gmtModify":1631893585280,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"oooo","listText":"oooo","text":"oooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169892466","repostId":"2143753069","repostType":4,"isVote":1,"tweetType":1,"viewCount":1706,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169804487,"gmtCreate":1623825431549,"gmtModify":1631893585293,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169804487","repostId":"1130157766","repostType":4,"isVote":1,"tweetType":1,"viewCount":1949,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169802043,"gmtCreate":1623825299882,"gmtModify":1631893585305,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"amazing","listText":"amazing","text":"amazing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169802043","repostId":"1114926830","repostType":4,"isVote":1,"tweetType":1,"viewCount":1974,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169808425,"gmtCreate":1623825228967,"gmtModify":1631893585317,"author":{"id":"3574284389004367","authorId":"3574284389004367","name":"fffelicia","avatar":"https://static.tigerbbs.com/8189d5ede55254fca44a27f0a256a0a2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574284389004367","idStr":"3574284389004367"},"themes":[],"htmlText":"hmmm","listText":"hmmm","text":"hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169808425","repostId":"1180911259","repostType":4,"repost":{"id":"1180911259","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623765092,"share":"https://www.laohu8.com/m/news/1180911259?lang=zh_CN&edition=full","pubTime":"2021-06-15 21:51","market":"us","language":"en","title":"Blockchain stocks mixed in morning trading<blockquote>区块链股票早盘涨跌互现</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180911259","media":"Tiger Newspress","summary":"(June 15) Blockchain stocks mixed in morning trading.","content":"<p>(June&nbsp;15)&nbsp;Blockchain&nbsp;stocks&nbsp;mixed&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>（6月15日）区块链股早盘涨跌不一。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2add04248d60bb69c41121475aca5e34\" tg-width=\"283\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBlockchain stocks mixed in morning trading<blockquote>区块链股票早盘涨跌互现</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-15 21:51</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(June&nbsp;15)&nbsp;Blockchain&nbsp;stocks&nbsp;mixed&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>（6月15日）区块链股早盘涨跌不一。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2add04248d60bb69c41121475aca5e34\" tg-width=\"283\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTBT":"Bit Digital, Inc.","RIOT":"Riot Platforms","CAN":"嘉楠科技","EBON":"亿邦国际","MARA":"MARA 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