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大道有形我无形着眼2030

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大道有形我无形着眼2030

2021-11-17

还未量产交付就全球第三大市值车企，这市梦率简直离谱

Rivian盘前股价大幅回撤，由上涨转为跌超8%

大道有形我无形着眼2030

2022-01-12

2032，十年之后大家最看好英伟达、微软还是特斯拉？

Prediction: These Will Be 3 of the Biggest Stocks by 2032

大道有形我无形着眼2030

2020-11-19

$Tesla Motors(TSLA)$大胆预测钢铁侠有朝一日会成为第一大富豪

大道有形我无形着眼2030

2021-12-28

$苹果(AAPL)$看好今晚突破三万亿

大道有形我无形着眼2030

2021-12-23

$AMD(AMD)$2022，AMD能延续强势吗

大道有形我无形着眼2030

2020-08-19

$Apple(AAPL)$坐等市值突破两万亿

大道有形我无形着眼2030

05-10

$亚马逊(AMZN)$

大道有形我无形着眼2030

2022-08-08

$大健云仓(GCT)$冲上云霄

大道有形我无形着眼2030

2022-03-29

这篇文章不错，转发给大家看看

@走马财经:2021年美团财报解读：十面埋伏下的巨大机遇

大道有形我无形着眼2030

2022-02-17

这篇文章不错，转发给大家看看

@美股研习社:财报解剖 | 英伟达亮眼财报为何遭市场冷眼

大道有形我无形着眼2030

2022-02-16

这篇文章不错，转发给大家看看

小人物逆袭：印度小伙11年押注1家公司，去年暴赚20亿美元

大道有形我无形着眼2030

2022-01-04

如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为

顶级策略师：美股凭什么10年复合增速是其他地方两倍

大道有形我无形着眼2030

2021-12-27

Nike大中华区营收降低20%还跳涨10%，实在令人费解

抱歉，原内容已删除

大道有形我无形着眼2030

2021-12-21

nio到底是供应链问题还是model Y蚕食了市场

5 Beaten-Down Growth Stocks That Can Soar in 2022

大道有形我无形着眼2030

2021-12-21

$英伟达(NVDA)$继续加油

大道有形我无形着眼2030

2021-11-26

营收超预期，亏损扩大，处于新一轮扩张期

美团Q3营收488.3亿元，调整后净亏损55.3亿元

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href=\"https://laohu8.com/S/GCT\">$大健云仓(GCT)$</a>冲上云霄","text":"$大健云仓(GCT)$冲上云霄","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/685744173","isVote":1,"tweetType":1,"viewCount":997,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":610398993,"gmtCreate":1648509511814,"gmtModify":1648509511814,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"这篇文章不错，转发给大家看看","listText":"这篇文章不错，转发给大家看看","text":"这篇文章不错，转发给大家看看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/610398993","repostId":"610956004","repostType":1,"repost":{"id":610956004,"gmtCreate":1648476936870,"gmtModify":1648511686245,"author":{"id":"3555926517215344","authorId":"3555926517215344","name":"走马财经","avatar":"https://static.tigerbbs.com/405de4c75e3b97b2d778531943cbe586","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555926517215344","authorIdStr":"3555926517215344"},"themes":[],"title":"2021年美团财报解读：十面埋伏下的巨大机遇","htmlText":"3月25日，美团发布了它的2021年四季度财报，自然也包含了2021年年报。财报中披露了足够多的数据，可以让我们窥探这家中国最大的本地生活服务平台的业务进展和未来走向。2021年的美团将战略进行了调整，直面亏损，同时面临着国内外各种各样的风险，可谓十面埋伏。但是风险与机遇总是并存的，在亏损之余，美团的增长也令人刮目相看，这为他的投入增添了底气，本文将从亏损、底气、风险与机遇、探索等几个方面为你解读这份财报，希望能为你看清美团提供一些有益的视角和帮助。1.亏损从某些财务指标来看，2021年并不是美团亏损最大的一年，2018年美团上市的时候，它的年报显示，该年度美团亏损超过1100亿。但那不是经营性亏损，而是因为上市，一笔可转换可赎回债券在财务数据上带来了1000亿以上的开支。2018年美团的经营亏损111亿，而2021年美团经营亏损达到了创纪录的231亿。拆分餐饮外卖、到店酒旅和新业务来看，亏损全部来自新业务。实际上2021年外卖和到店酒旅业务的利润都取得了巨大增长，外卖业务利润增长了118%，达到创纪录的61.7亿元，年度经营利润率达到6.4%。而到店酒旅业务的利润也达到了创纪录的140.9亿元，同比增长72.2%，利润率高达43.4%。新业务则巨亏383.9亿元，比2020年的亏损扩大了253.8%。具体而言，亏损主要来自研发带来的雇员福利开支增长132亿，增幅61.4%；来自推广、广告和用户激励的开支增长122亿，增幅110.3%；来自外包和物业、厂房折旧的开支增长183.2，增幅148.6%。餐饮外卖配送成本和交易成本的增速都属于正常范围内。从历史数据来看，餐饮外卖配送成本的增长一直跟外卖业务的高增长强相关，且与外卖业务营收的比值逐年下降，表明美团能在扩大外卖业务规模的情况下降低配送成本，是良性的降本增效挤毛巾式盈利。雇员福利开支虽然2021年增长较快，但是整体占营收","listText":"3月25日，美团发布了它的2021年四季度财报，自然也包含了2021年年报。财报中披露了足够多的数据，可以让我们窥探这家中国最大的本地生活服务平台的业务进展和未来走向。2021年的美团将战略进行了调整，直面亏损，同时面临着国内外各种各样的风险，可谓十面埋伏。但是风险与机遇总是并存的，在亏损之余，美团的增长也令人刮目相看，这为他的投入增添了底气，本文将从亏损、底气、风险与机遇、探索等几个方面为你解读这份财报，希望能为你看清美团提供一些有益的视角和帮助。1.亏损从某些财务指标来看，2021年并不是美团亏损最大的一年，2018年美团上市的时候，它的年报显示，该年度美团亏损超过1100亿。但那不是经营性亏损，而是因为上市，一笔可转换可赎回债券在财务数据上带来了1000亿以上的开支。2018年美团的经营亏损111亿，而2021年美团经营亏损达到了创纪录的231亿。拆分餐饮外卖、到店酒旅和新业务来看，亏损全部来自新业务。实际上2021年外卖和到店酒旅业务的利润都取得了巨大增长，外卖业务利润增长了118%，达到创纪录的61.7亿元，年度经营利润率达到6.4%。而到店酒旅业务的利润也达到了创纪录的140.9亿元，同比增长72.2%，利润率高达43.4%。新业务则巨亏383.9亿元，比2020年的亏损扩大了253.8%。具体而言，亏损主要来自研发带来的雇员福利开支增长132亿，增幅61.4%；来自推广、广告和用户激励的开支增长122亿，增幅110.3%；来自外包和物业、厂房折旧的开支增长183.2，增幅148.6%。餐饮外卖配送成本和交易成本的增速都属于正常范围内。从历史数据来看，餐饮外卖配送成本的增长一直跟外卖业务的高增长强相关，且与外卖业务营收的比值逐年下降，表明美团能在扩大外卖业务规模的情况下降低配送成本，是良性的降本增效挤毛巾式盈利。雇员福利开支虽然2021年增长较快，但是整体占营收","text":"3月25日，美团发布了它的2021年四季度财报，自然也包含了2021年年报。财报中披露了足够多的数据，可以让我们窥探这家中国最大的本地生活服务平台的业务进展和未来走向。2021年的美团将战略进行了调整，直面亏损，同时面临着国内外各种各样的风险，可谓十面埋伏。但是风险与机遇总是并存的，在亏损之余，美团的增长也令人刮目相看，这为他的投入增添了底气，本文将从亏损、底气、风险与机遇、探索等几个方面为你解读这份财报，希望能为你看清美团提供一些有益的视角和帮助。1.亏损从某些财务指标来看，2021年并不是美团亏损最大的一年，2018年美团上市的时候，它的年报显示，该年度美团亏损超过1100亿。但那不是经营性亏损，而是因为上市，一笔可转换可赎回债券在财务数据上带来了1000亿以上的开支。2018年美团的经营亏损111亿，而2021年美团经营亏损达到了创纪录的231亿。拆分餐饮外卖、到店酒旅和新业务来看，亏损全部来自新业务。实际上2021年外卖和到店酒旅业务的利润都取得了巨大增长，外卖业务利润增长了118%，达到创纪录的61.7亿元，年度经营利润率达到6.4%。而到店酒旅业务的利润也达到了创纪录的140.9亿元，同比增长72.2%，利润率高达43.4%。新业务则巨亏383.9亿元，比2020年的亏损扩大了253.8%。具体而言，亏损主要来自研发带来的雇员福利开支增长132亿，增幅61.4%；来自推广、广告和用户激励的开支增长122亿，增幅110.3%；来自外包和物业、厂房折旧的开支增长183.2，增幅148.6%。餐饮外卖配送成本和交易成本的增速都属于正常范围内。从历史数据来看，餐饮外卖配送成本的增长一直跟外卖业务的高增长强相关，且与外卖业务营收的比值逐年下降，表明美团能在扩大外卖业务规模的情况下降低配送成本，是良性的降本增效挤毛巾式盈利。雇员福利开支虽然2021年增长较快，但是整体占营收","images":[{"img":"https://static.tigerbbs.com/7a844ccfcdac7b9fc775e5eb9dc5fffd","width":"632","height":"434"},{"img":"https://static.tigerbbs.com/c952d3ce716565e3a36ac68cd2b05254","width":"632","height":"425"},{"img":"https://static.tigerbbs.com/5b9452996c8432c64f2dfbdd3b969f06","width":"632","height":"419"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/610956004","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":19,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":946,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":637792456,"gmtCreate":1648251050313,"gmtModify":1648251050313,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"这篇文章不错，转发给大家看看","listText":"这篇文章不错，转发给大家看看","text":"这篇文章不错，转发给大家看看","images":[],"top":1,"highlighted":1,"essential":1,"paper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\n \n  英伟达GTC大会发布多款新产品是否能继续加深英伟达的技术护城河和竞争力？本季度财报有什么亮点？我们现在还能建仓吗？花了两天筹备这期视频，当今天早上发布出来后，<a target=\"_blank\" href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$</a>&nbsp;暴涨10%，走出3月以来的新高。凭借押中图形处理显卡和人工智能（AI）芯片两大赛道，英伟达已经成为全球半导体市值Top 1，比第二名台积电足足多了近1100亿美元。股价六年涨了50倍，英伟达本周举行4天的GTC开发者大会，CEO黄仁勋对外发布20多款软硬件产品，让投资者看到公司未来的发展方向和核心业务。<a target=\"_blank\" href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>&nbsp;<a target=\"_blank\" href=\"https://laohu8.com/S/MU\">$美光科技(MU)$</a>&nbsp;<a target=\"_blank\" href=\"https://laohu8.com/S/ASML\">$阿斯麦(ASML)$</a>&nbsp;那这些新产品是否能继续加深英伟达的技术护城河和竞争力呢？现在的价格是否还能抄底？今天我们的文章会给大家深入探讨一下，我们会把很多芯片术语用最简单的方式给大家科普，当你看完这个视频以后，保证让你成为芯片大神！如果你是第一次看到我们的频道，记得订阅哦！英伟达的CEO黄仁勋用了10多年的时间，将英伟达打造成GPU王者，然后他又用10多年的时间，把公司转型到AI，可以让GPU不局限于处理图形显示任务，还可以代替CPU处理非图形的计算任务。把GPU的应用场景延伸到自动驾驶，人工智能计算等多个领域。本来需要150个 CPU 才能做的人脸识别，现在2个GPU就可以搞定。这\n \n","listText":"英伟达GTC大会发布多款新产品是否能继续加深英伟达的技术护城河和竞争力？本季度财报有什么亮点？我们现在还能建仓吗？花了两天筹备这期视频，当今天早上发布出来后，<a target=\"_blank\" href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$</a>&nbsp;暴涨10%，走出3月以来的新高。凭借押中图形处理显卡和人工智能（AI）芯片两大赛道，英伟达已经成为全球半导体市值Top 1，比第二名台积电足足多了近1100亿美元。股价六年涨了50倍，英伟达本周举行4天的GTC开发者大会，CEO黄仁勋对外发布20多款软硬件产品，让投资者看到公司未来的发展方向和核心业务。<a target=\"_blank\" href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>&nbsp;<a target=\"_blank\" href=\"https://laohu8.com/S/MU\">$美光科技(MU)$</a>&nbsp;<a target=\"_blank\" href=\"https://laohu8.com/S/ASML\">$阿斯麦(ASML)$</a>&nbsp;那这些新产品是否能继续加深英伟达的技术护城河和竞争力呢？现在的价格是否还能抄底？今天我们的文章会给大家深入探讨一下，我们会把很多芯片术语用最简单的方式给大家科普，当你看完这个视频以后，保证让你成为芯片大神！如果你是第一次看到我们的频道，记得订阅哦！英伟达的CEO黄仁勋用了10多年的时间，将英伟达打造成GPU王者，然后他又用10多年的时间，把公司转型到AI，可以让GPU不局限于处理图形显示任务，还可以代替CPU处理非图形的计算任务。把GPU的应用场景延伸到自动驾驶，人工智能计算等多个领域。本来需要150个 CPU 才能做的人脸识别，现在2个GPU就可以搞定。这","text":"英伟达GTC大会发布多款新产品是否能继续加深英伟达的技术护城河和竞争力？本季度财报有什么亮点？我们现在还能建仓吗？花了两天筹备这期视频，当今天早上发布出来后，$英伟达(NVDA)$ 暴涨10%，走出3月以来的新高。凭借押中图形处理显卡和人工智能（AI）芯片两大赛道，英伟达已经成为全球半导体市值Top 1，比第二名台积电足足多了近1100亿美元。股价六年涨了50倍，英伟达本周举行4天的GTC开发者大会，CEO黄仁勋对外发布20多款软硬件产品，让投资者看到公司未来的发展方向和核心业务。$AMD(AMD)$ $美光科技(MU)$ $阿斯麦(ASML)$ 那这些新产品是否能继续加深英伟达的技术护城河和竞争力呢？现在的价格是否还能抄底？今天我们的文章会给大家深入探讨一下，我们会把很多芯片术语用最简单的方式给大家科普，当你看完这个视频以后，保证让你成为芯片大神！如果你是第一次看到我们的频道，记得订阅哦！英伟达的CEO黄仁勋用了10多年的时间，将英伟达打造成GPU王者，然后他又用10多年的时间，把公司转型到AI，可以让GPU不局限于处理图形显示任务，还可以代替CPU处理非图形的计算任务。把GPU的应用场景延伸到自动驾驶，人工智能计算等多个领域。本来需要150个 CPU 才能做的人脸识别，现在2个GPU就可以搞定。这","images":[{"img":"https://static.tigerbbs.com/fb2900553fe3b0e635f484b7e10ca076","width":"0","height":"0"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/637523816","isVote":1,"tweetType":2,"object":{"id":"f616a660d0bd4659bb0437e3f5640459","tweetId":"637523816","videoUrl":"https://1254107296.vod2.myqcloud.com/73ba5544vodgzp1254107296/4f5aa4ba387702298092069265/j7Rsh5CJLrMA.mp4","poster":"https://static.tigerbbs.com/4de7876fc6f3f37d5e9603de112da664"},"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":11,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1162,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638193594,"gmtCreate":1645107764190,"gmtModify":1645107764190,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"这篇文章不错，转发给大家看看","listText":"这篇文章不错，转发给大家看看","text":"这篇文章不错，转发给大家看看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638193594","repostId":"638349296","repostType":1,"repost":{"id":638349296,"gmtCreate":1645094523951,"gmtModify":1645128962888,"author":{"id":"4092209177497620","authorId":"4092209177497620","name":"美股研习社","avatar":"https://static.tigerbbs.com/504f9801d521d1863fa1d263ff8ea79d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4092209177497620","authorIdStr":"4092209177497620"},"themes":[],"title":"财报解剖 | 英伟达亮眼财报为何遭市场冷眼","htmlText":"作者：昨辰摘要：数据中心仍为主要增长驱动力，供应链问题市场过于担忧2月16日盘后，英伟达发布超预期财报，游戏、数据中心和专业可视化三大业务营收连续两季创新高，带动全年营收暴增61%续创新高。尽管英伟达财报情况及下季指引均好于预期，但盘后竟然转跌？我们详细来看。截止22年2月16日收盘，英伟达21年全年涨幅为125.49%，22年至今涨幅为-9.86%，跑输同期标普500指数ETF(SPY：-5.97%)及费城半导体指数(SOXX：-9.6%)的涨幅，跑赢了同期纳指100ETF(QQQ：-10.51%)。从财报来看，英伟达继续保持高增长，FY22Q4营收同比增52.8%至76.43亿美元（预期74.2亿美元），连续七个季度业绩超预期；净利同比增96.6%至28.65亿美元；摊薄后EPS同比增12.8%至1.32美元（预期1.22美元）。全年营收同比增61.4%至269.14亿美元；净利同比增36.2%至97.52亿美元；摊薄后EPS同比翻倍（增123%）至创纪录的3.85美元。分业务来看：游戏、数据中心及专业可视化三项业务营收连续两季创新高。游戏业务依旧是英伟达营收的主要来源，但数据中心部门对英伟达未来发展的重要性越发凸显，是公司未来增长的主引擎。（1）游戏：疫情反复之下，宅家逐渐成为常态，对于游戏芯片的需求持续高涨近日，市场研究公司Newzoo发布的最新报告显示：2021年全球游戏市场总收入预计将达到1803亿美元，同比增长1.4%。虽然PC和主机游戏的全球收入均出现了小幅下滑（0.8%和6.6%），但手游市场继续保持着增长势头，932亿美元的年收入相比2020年上升7.3%，占全球游戏市场总收入的52%以上。2022年1月，中国移动游戏市场实际销售收入222.40亿元，环比增长20.25%，同比增长17.76%。这些强劲数据的背后，自然意味着英伟达生意好得不行：FY22Q","listText":"作者：昨辰摘要：数据中心仍为主要增长驱动力，供应链问题市场过于担忧2月16日盘后，英伟达发布超预期财报，游戏、数据中心和专业可视化三大业务营收连续两季创新高，带动全年营收暴增61%续创新高。尽管英伟达财报情况及下季指引均好于预期，但盘后竟然转跌？我们详细来看。截止22年2月16日收盘，英伟达21年全年涨幅为125.49%，22年至今涨幅为-9.86%，跑输同期标普500指数ETF(SPY：-5.97%)及费城半导体指数(SOXX：-9.6%)的涨幅，跑赢了同期纳指100ETF(QQQ：-10.51%)。从财报来看，英伟达继续保持高增长，FY22Q4营收同比增52.8%至76.43亿美元（预期74.2亿美元），连续七个季度业绩超预期；净利同比增96.6%至28.65亿美元；摊薄后EPS同比增12.8%至1.32美元（预期1.22美元）。全年营收同比增61.4%至269.14亿美元；净利同比增36.2%至97.52亿美元；摊薄后EPS同比翻倍（增123%）至创纪录的3.85美元。分业务来看：游戏、数据中心及专业可视化三项业务营收连续两季创新高。游戏业务依旧是英伟达营收的主要来源，但数据中心部门对英伟达未来发展的重要性越发凸显，是公司未来增长的主引擎。（1）游戏：疫情反复之下，宅家逐渐成为常态，对于游戏芯片的需求持续高涨近日，市场研究公司Newzoo发布的最新报告显示：2021年全球游戏市场总收入预计将达到1803亿美元，同比增长1.4%。虽然PC和主机游戏的全球收入均出现了小幅下滑（0.8%和6.6%），但手游市场继续保持着增长势头，932亿美元的年收入相比2020年上升7.3%，占全球游戏市场总收入的52%以上。2022年1月，中国移动游戏市场实际销售收入222.40亿元，环比增长20.25%，同比增长17.76%。这些强劲数据的背后，自然意味着英伟达生意好得不行：FY22Q","text":"作者：昨辰摘要：数据中心仍为主要增长驱动力，供应链问题市场过于担忧2月16日盘后，英伟达发布超预期财报，游戏、数据中心和专业可视化三大业务营收连续两季创新高，带动全年营收暴增61%续创新高。尽管英伟达财报情况及下季指引均好于预期，但盘后竟然转跌？我们详细来看。截止22年2月16日收盘，英伟达21年全年涨幅为125.49%，22年至今涨幅为-9.86%，跑输同期标普500指数ETF(SPY：-5.97%)及费城半导体指数(SOXX：-9.6%)的涨幅，跑赢了同期纳指100ETF(QQQ：-10.51%)。从财报来看，英伟达继续保持高增长，FY22Q4营收同比增52.8%至76.43亿美元（预期74.2亿美元），连续七个季度业绩超预期；净利同比增96.6%至28.65亿美元；摊薄后EPS同比增12.8%至1.32美元（预期1.22美元）。全年营收同比增61.4%至269.14亿美元；净利同比增36.2%至97.52亿美元；摊薄后EPS同比翻倍（增123%）至创纪录的3.85美元。分业务来看：游戏、数据中心及专业可视化三项业务营收连续两季创新高。游戏业务依旧是英伟达营收的主要来源，但数据中心部门对英伟达未来发展的重要性越发凸显，是公司未来增长的主引擎。（1）游戏：疫情反复之下，宅家逐渐成为常态，对于游戏芯片的需求持续高涨近日，市场研究公司Newzoo发布的最新报告显示：2021年全球游戏市场总收入预计将达到1803亿美元，同比增长1.4%。虽然PC和主机游戏的全球收入均出现了小幅下滑（0.8%和6.6%），但手游市场继续保持着增长势头，932亿美元的年收入相比2020年上升7.3%，占全球游戏市场总收入的52%以上。2022年1月，中国移动游戏市场实际销售收入222.40亿元，环比增长20.25%，同比增长17.76%。这些强劲数据的背后，自然意味着英伟达生意好得不行：FY22Q","images":[{"img":"https://static.tigerbbs.com/9cc167dea76dc7915e6add2c004e1e05","width":"632","height":"339"},{"img":"https://static.tigerbbs.com/d9cab99cc014b4515f8f454faf36ebfc","width":"632","height":"379"},{"img":"https://static.tigerbbs.com/3ca688d801bb5733444f6dd5a921ce0e","width":"632","height":"346"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638349296","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":7,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1650,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638933033,"gmtCreate":1645019303897,"gmtModify":1645019303897,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"这篇文章不错，转发给大家看看","listText":"这篇文章不错，转发给大家看看","text":"这篇文章不错，转发给大家看看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638933033","repostId":"1175916852","repostType":4,"repost":{"id":"1175916852","pubTimestamp":1645014736,"share":"https://www.laohu8.com/m/news/1175916852?lang=&edition=full","pubTime":"2022-02-16 20:32","market":"us","language":"zh","title":"小人物逆袭：印度小伙11年押注1家公司，去年暴赚20亿美元","url":"https://stock-news.laohu8.com/highlight/detail?id=1175916852","media":"华尔街见闻","summary":"在永不停歇的资本市场里，时刻都有人在演绎着自己的故事。","content":"<html><head></head><body><p>作者：朱雪莹</p><p>在永不停歇的资本市场里，时刻都有人在演绎着自己的故事。</p><p>只不过有的人上演亏损传奇，比如一举将<a href=\"https://laohu8.com/S/GS\">高盛</a>撂倒，创下“人类史上最大单日亏损”的Bill Hwang，但有的人则缔造狂赚传说，用“11年20亿”来证明自己坚持的意义。</p><p>他就是Karthik Sarma。</p><p><b>01“平平无奇”Karthik Sarma，一朝登顶</b></p><p>在彭博社发布2021年度对冲基金经理收入排行榜之前，很少有人知道Karthik Sarma，外界最多就是知道他之前在老虎环球工作过。</p><p>然而当老虎环球的创始人Chase Coleman都被挤出排行榜，<b>Sarma却一举闯进年度收入前三甲时</b>，大家纷纷扒开他的简历从头看到尾，仔细程度就像是能看出他是怎么赚钱的一样。</p><p><img src=\"https://static.tigerbbs.com/20d5631d4ded80529739333c3940cddb\" tg-width=\"777\" tg-height=\"392\" referrerpolicy=\"no-referrer\"/></p><p><img src=\"https://static.tigerbbs.com/5500e4438cbcb0b5d7b005d69b3e8d00\" tg-width=\"774\" tg-height=\"756\" referrerpolicy=\"no-referrer\"/></p><p>Karthik Sarma，印度人，在人生的前20多年都在认真践行一个优秀印度人会有的人生轨迹：</p><p>学工程，去美国，做金融。</p><p><img src=\"https://static.tigerbbs.com/9683d1903ce50341dafa33502394d522\" tg-width=\"1080\" tg-height=\"548\" referrerpolicy=\"no-referrer\"/></p><p>Sarma1996年从印度理工学院毕业，之后去了美国普林斯顿大学攻读运筹学硕士。</p><p>毕业之后先在麦肯锡工作了三年，随后在2001年加入了当时才成立不久的老虎环球，当时江湖传言他是老虎环球“最有天分”的员工。</p><p>干了五年之后，Sarma自立门户，创立了SRS Investment Management，正式开启了自己在华尔街的精彩人生。</p><p>或许是厌倦了上学期间“循规蹈矩”的生活，Sarma的行事作风和走精英路线的传统华尔街金融人士很不相同。</p><p>你以为的华尔街基金经理都是这样：西装革履，眼神中满是思索。</p><p><img src=\"https://static.tigerbbs.com/ddac3a54a60d590150bfa3cc1e488136\" tg-width=\"540\" tg-height=\"303\" referrerpolicy=\"no-referrer\"/></p><p>但Sarma看起来是这样：休闲衬衣，眼神中好像还略带懵懂。</p><p><img src=\"https://static.tigerbbs.com/92a1d7f5f6652207e8a148f140130aba\" tg-width=\"640\" tg-height=\"480\" referrerpolicy=\"no-referrer\"/></p><p>你以为他的办公室应该是这样：N个屏幕，即刻洞悉全球金融态势。</p><p><img src=\"https://static.tigerbbs.com/f4beca9bdd2dc8a7934ae43e1fca1e40\" tg-width=\"550\" tg-height=\"285\" referrerpolicy=\"no-referrer\"/></p><p>但其实Sarma在疫情之后一直住在他姐姐家里，办公环境大概是这种：一台电脑，屏幕可能还没有你家的大。</p><p><img src=\"https://static.tigerbbs.com/33f9ff841d96d63c3a176af9edd25dd9\" tg-width=\"550\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/></p><p>这确实很不“华尔街”。</p><p>虽然看起来Sarma的生活没有很多金融人士那么精致，但是这并不妨碍他在赚钱方面一骑绝尘。</p><p>2021年Sarma本人大赚20亿美元，个人净资产直接增加了两倍，而这些都要归功于他11年来的坚持不懈，11年来对一只股票的重金押注。</p><p>那就是<a href=\"https://laohu8.com/S/CAR\">安飞士</a>（Avis Budget Group）——一家全球性汽车租赁公司。</p><p><b>02一天爆赚50亿！</b></p><p>一只股就能赚几十亿？</p><p>能，只要买得够多，涨得够猛。</p><p>那先看看SRS买了多少安飞士。</p><p>从SRS截止2021年12月31日的第四季度持仓报告（13F）中可以看出，安飞士在SRS的投资组合中排名第一，持仓约1843.09万股，持仓市值约36.98亿，占投资组合比例高达44.41%。</p><p><img src=\"https://static.tigerbbs.com/448ee08768b5ce7faefaa1dc5d3075cf\" tg-width=\"894\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/></p><p>然后再去看看安飞士去年的股价。</p><p><img src=\"https://static.tigerbbs.com/cd9603b7b126a0e915bc7bc1073f064c\" tg-width=\"1080\" tg-height=\"515\" referrerpolicy=\"no-referrer\"/></p><p>整体看来就是“平平无奇”，除了11月2号那一天。</p><p>根据彭博社透露，当时先是安飞士Q3净利刷新历史新高引爆氛围，再是CEO表示将在“电动车普及方面发布重要作用”更是点燃爆炸引线，11月2日安飞士股价一度暴涨200%，带动SRS在短短数小时内爆赚53.5亿美元。</p><p><img src=\"https://static.tigerbbs.com/04bc51aecfc3cea05f54fb289f40eb30\" tg-width=\"946\" tg-height=\"286\" referrerpolicy=\"no-referrer\"/></p><p>算上11月2日这传奇一天，安飞士2021年总共涨了456%，SRS赚得盆满钵满，收益率达到35%。</p><p>而其中有一只基金满仓安飞士，由Sarma本人持有90%的份额。</p><p>或许会有人觉得和其他对冲基金相比，这点盈利不值一提。但是和动辄数百亿规模的基金相比，SRS的资金规模才80亿美元。</p><p><b>0311年终得回报，小人物也能逆袭</b></p><p>性格决定命运，这已经是一句老生常谈的话，但是却在Sarma身上得到了很好的印证。</p><p>我们只看到了2021年Sarma在<b>安飞士</b>上的大举获胜，却没有仔细想想他在<b>这只个股上花了足足11年的光阴，而前十年总共的收益率也才刚刚翻倍。</b></p><p><img src=\"https://static.tigerbbs.com/cb6aecc66b59834373ba7b4244e8a4d3\" tg-width=\"1024\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p>Sarma大获全胜，和他稳重的投资方式密不可分。</p><p>他风格稳健，不青睐高杠杆；</p><p>他风控严格，通常在投资组合中做多25只个股，做空35只个股，净敞口低于同行水平；</p><p>他信念坚定，认为只要满足要求，就不在意长期重仓单一个股；</p><p>他目光长远，长期押注安飞士，因为他认为“能以高性价比的方式来管理车队的公司，对于人类未来的交通发展极具价值。”</p><p>所以自2007年以来，Sarma旗下基金的年化收益率为12%，跑赢了标普500指数的11%。</p><p>他或许曾经在高手<a href=\"https://laohu8.com/S/YJ\">云集</a>的华尔街，是一个名不见经传的小人物，但是现在他用真金白银证明了自己，成功逆袭。</p></body></html>","source":"highlight_wallstreetcn","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>小人物逆袭：印度小伙11年押注1家公司，去年暴赚20亿美元</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n小人物逆袭：印度小伙11年押注1家公司，去年暴赚20亿美元\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-16 20:32 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3652071><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作者：朱雪莹在永不停歇的资本市场里，时刻都有人在演绎着自己的故事。只不过有的人上演亏损传奇，比如一举将高盛撂倒，创下“人类史上最大单日亏损”的Bill Hwang，但有的人则缔造狂赚传说，用“11年20亿”来证明自己坚持的意义。他就是Karthik Sarma。01“平平无奇”Karthik Sarma，一朝登顶在彭博社发布2021年度对冲基金经理收入排行榜之前，很少有人知道Karthik ...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3652071\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fd0f94887b15b0dd86bfcd8dfac01eec","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3652071","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1175916852","content_text":"作者：朱雪莹在永不停歇的资本市场里，时刻都有人在演绎着自己的故事。只不过有的人上演亏损传奇，比如一举将高盛撂倒，创下“人类史上最大单日亏损”的Bill Hwang，但有的人则缔造狂赚传说，用“11年20亿”来证明自己坚持的意义。他就是Karthik Sarma。01“平平无奇”Karthik Sarma，一朝登顶在彭博社发布2021年度对冲基金经理收入排行榜之前，很少有人知道Karthik Sarma，外界最多就是知道他之前在老虎环球工作过。然而当老虎环球的创始人Chase Coleman都被挤出排行榜，Sarma却一举闯进年度收入前三甲时，大家纷纷扒开他的简历从头看到尾，仔细程度就像是能看出他是怎么赚钱的一样。Karthik Sarma，印度人，在人生的前20多年都在认真践行一个优秀印度人会有的人生轨迹：学工程，去美国，做金融。Sarma1996年从印度理工学院毕业，之后去了美国普林斯顿大学攻读运筹学硕士。毕业之后先在麦肯锡工作了三年，随后在2001年加入了当时才成立不久的老虎环球，当时江湖传言他是老虎环球“最有天分”的员工。干了五年之后，Sarma自立门户，创立了SRS Investment Management，正式开启了自己在华尔街的精彩人生。或许是厌倦了上学期间“循规蹈矩”的生活，Sarma的行事作风和走精英路线的传统华尔街金融人士很不相同。你以为的华尔街基金经理都是这样：西装革履，眼神中满是思索。但Sarma看起来是这样：休闲衬衣，眼神中好像还略带懵懂。你以为他的办公室应该是这样：N个屏幕，即刻洞悉全球金融态势。但其实Sarma在疫情之后一直住在他姐姐家里，办公环境大概是这种：一台电脑，屏幕可能还没有你家的大。这确实很不“华尔街”。虽然看起来Sarma的生活没有很多金融人士那么精致，但是这并不妨碍他在赚钱方面一骑绝尘。2021年Sarma本人大赚20亿美元，个人净资产直接增加了两倍，而这些都要归功于他11年来的坚持不懈，11年来对一只股票的重金押注。那就是安飞士（Avis Budget Group）——一家全球性汽车租赁公司。02一天爆赚50亿！一只股就能赚几十亿？能，只要买得够多，涨得够猛。那先看看SRS买了多少安飞士。从SRS截止2021年12月31日的第四季度持仓报告（13F）中可以看出，安飞士在SRS的投资组合中排名第一，持仓约1843.09万股，持仓市值约36.98亿，占投资组合比例高达44.41%。然后再去看看安飞士去年的股价。整体看来就是“平平无奇”，除了11月2号那一天。根据彭博社透露，当时先是安飞士Q3净利刷新历史新高引爆氛围，再是CEO表示将在“电动车普及方面发布重要作用”更是点燃爆炸引线，11月2日安飞士股价一度暴涨200%，带动SRS在短短数小时内爆赚53.5亿美元。算上11月2日这传奇一天，安飞士2021年总共涨了456%，SRS赚得盆满钵满，收益率达到35%。而其中有一只基金满仓安飞士，由Sarma本人持有90%的份额。或许会有人觉得和其他对冲基金相比，这点盈利不值一提。但是和动辄数百亿规模的基金相比，SRS的资金规模才80亿美元。0311年终得回报，小人物也能逆袭性格决定命运，这已经是一句老生常谈的话，但是却在Sarma身上得到了很好的印证。我们只看到了2021年Sarma在安飞士上的大举获胜，却没有仔细想想他在这只个股上花了足足11年的光阴，而前十年总共的收益率也才刚刚翻倍。Sarma大获全胜，和他稳重的投资方式密不可分。他风格稳健，不青睐高杠杆；他风控严格，通常在投资组合中做多25只个股，做空35只个股，净敞口低于同行水平；他信念坚定，认为只要满足要求，就不在意长期重仓单一个股；他目光长远，长期押注安飞士，因为他认为“能以高性价比的方式来管理车队的公司，对于人类未来的交通发展极具价值。”所以自2007年以来，Sarma旗下基金的年化收益率为12%，跑赢了标普500指数的11%。他或许曾经在高手云集的华尔街，是一个名不见经传的小人物，但是现在他用真金白银证明了自己，成功逆袭。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":694224498,"gmtCreate":1642000118384,"gmtModify":1642000118384,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"2032，十年之后大家最看好英伟达、微软还是特斯拉？","listText":"2032，十年之后大家最看好英伟达、微软还是特斯拉？","text":"2032，十年之后大家最看好英伟达、微软还是特斯拉？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/694224498","repostId":"2202786996","repostType":2,"isVote":1,"tweetType":1,"viewCount":3513,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3499987038693083","authorId":"3499987038693083","name":"楚天佑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"idStr":"3499987038693083","authorIdStr":"3499987038693083"},"content":"再可见的未来，特斯拉电动车业务会被人追上，英伟达的显卡还没有人能追上，AMD显卡差距很大呀。","text":"再可见的未来，特斯拉电动车业务会被人追上，英伟达的显卡还没有人能追上，AMD显卡差距很大呀。","html":"再可见的未来，特斯拉电动车业务会被人追上，英伟达的显卡还没有人能追上，AMD显卡差距很大呀。"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695982317,"gmtCreate":1641299641156,"gmtModify":1641299641156,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为","listText":"如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为","text":"如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/695982317","repostId":"1141372672","repostType":2,"isVote":1,"tweetType":1,"viewCount":1354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696656019,"gmtCreate":1640689100062,"gmtModify":1640689100062,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$苹果(AAPL)$</a>看好今晚突破三万亿","listText":"<a href=\"https://laohu8.com/S/AAPL\">$苹果(AAPL)$</a>看好今晚突破三万亿","text":"$苹果(AAPL)$看好今晚突破三万亿","images":[{"img":"https://static.tigerbbs.com/2c85521036002574331b5ce430d5e924","width":"1125","height":"2869"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696656019","isVote":1,"tweetType":1,"viewCount":1428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":696392098,"gmtCreate":1640615394220,"gmtModify":1640615394220,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"Nike大中华区营收降低20%还跳涨10%，实在令人费解","listText":"Nike大中华区营收降低20%还跳涨10%，实在令人费解","text":"Nike大中华区营收降低20%还跳涨10%，实在令人费解","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696392098","repostId":"1179406011","repostType":4,"repost":{"id":"1179406011","weMediaInfo":{"introduction":"美股研究社，一个专注研究美股的平台，专业的美股投资人都在这。想了解美国股市行情、美股开户、美股资讯、美股公司；想获得一手美股重磅信息；想加入美股交流社群，敬请关注我们吧。","home_visible":0,"media_name":"美股研究社","id":"1074069735","head_image":"https://static.tigerbbs.com/e09c69c7ea1d4781a9de127f9b375dd6"},"pubTimestamp":1640603807,"share":"https://www.laohu8.com/m/news/1179406011?lang=&edition=full","pubTime":"2021-12-27 19:16","market":"us","language":"zh","title":"抱紧巨头，圣诞后美股可能来一次“全面大涨”！","url":"https://stock-news.laohu8.com/highlight/detail?id=1179406011","media":"美股研究社","summary":"圣诞涨势将推动美股再一次飙升，且随后的1月效应还会将其推得更高。","content":"<p>我们在之前文章里提到一个非常重要的观点——「当散户都在恐慌的时候，那一定不会是美股要崩盘的信号」，上周可以说得到了完美的印证。</p>\n<p>先来复盘下上周的走势——周一因为英国再次封锁，市场再次出现了一些恐慌，但并没有跌破纳指过去一年上升通道的支撑。<b>按照过去一年的经验来看，每当周一股指下滑的时候，接下来四天大多数情况都会上涨，很明显这是一次非常好的加仓机会。</b></p>\n<p>周一盘后美光科技公司 (NASDAQ:MU)交出了一份远超市场预期的财报，当日暴涨10.54%。存储芯片被广泛运用于汽车、电脑、手机和数据服务器等各个领域，这是科技公司业绩的风向标，MU的暴涨也带动了市场整体做多科技股的情绪。</p>\n<p>接下来三天，三大股指连续高开高走，走出了非常强劲的三根阳线，形成了“红三兵”的形态，纳指一举突破过去一个多月形成的下降通道阻力线，标普距离历史新高只有一步之遥，全面做多的局面已经形成。</p>\n<p><img src=\"https://static.tigerbbs.com/3997e0359476a98f7ffae9ef63ecff39\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>当前从纳指期货的技术形态来看，上方仅有16400一个关键阻力位了，这个阻力位之前连续进攻了好几次都没突破，现在距离这个位置只有100点，一旦突破，多头将变得不可阻挡。</p>\n<p>股指之所以能在如此短的时间内恢复上涨动能，特斯拉可以说居功至伟，在周一回踩箱体下沿支撑之后，这家公司一口气从886美元反弹到1067美元，上涨近20%。特斯拉的强劲复苏，也带动了股指的强势上攻。</p>\n<p><img src=\"https://static.tigerbbs.com/9abd548bb5d93757c521b052c0accc67\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>这是不是一个好的现象？当然，并不是。特斯拉上周暴涨的原因，主要是因为马斯克宣布股票快卖光了。就这么一条消息，一家市值接近万亿美元的巨头波动能如此之大，毫无疑问给未来埋下了隐忧。</p>\n<p>当前市场变得极为投机，一个消息经常就能造成股指暴涨暴跌。股指暴涨暴跌，一般有两种可能：①机构在洗散户的筹码，为了进一步的暴力拉升做准备；②市场即将进入最后疯狂阶段，大盘迅速赶顶后将迎来暴跌。</p>\n<p>现在美股泡沫前所未有之大，股指也在如此高的位置，第一种可能并不是说没有，但第二种可能性，我想大家都会认为发生的概率大一些，所以这不得不令我们感到警惕。</p>\n<p>纳指期货的技术形态也暗示了最终的结果，当前市场明显形成了一个扩散三角形，短期确实还要去进攻扩散三角形的上边缘，差不多对应17600，换算成纳指，差不多就是16800，对应还有接近1500点的上涨空间。</p>\n<p>周一，亚马逊等零售公司将公布圣诞假期销售数据，这是纳指期货能否突破16400的关键消息。美国是一个消费型社会，零售数据可以反映出整个经济的健康，一旦超出预期，消费继续增长，市场对财报季将再次充满乐观预期。</p>\n<p>换句话说，周一的零售数据只要超预期，纳指期货必然会突破16400的阻力位。一旦突破出去，就会立马形成逼空上涨行情，以现在市场的疯狂程度，从16400涨到17600，可能只需要7个交易日。</p>\n<p>现在已经是年底的最后几个交易日，一般都会有Windows Dressing效应，机构会粉饰季度报表，最终造成强者恒强的走势，现在的强者都是超级巨头，所以自然能推动股指进一步暴涨。</p>\n<p>针对美股的「圣诞行情」，股票交易者年鉴创始人Yale Hirsch创建了一个名为「圣诞老人拉力赛」的统计方法，用来描述圣诞节前后7天（每年的最后两个交易日以及新一年的前两个交易日）的股市增长率。而这样的称呼，寓意着圣诞老人驾着雪橇，拉动股市持续上涨。</p>\n<p><img src=\"https://static.tigerbbs.com/da25d1404aba5368ac07e9b9f2c9f62e\" tg-width=\"1080\" tg-height=\"261\" referrerpolicy=\"no-referrer\"></p>\n<p><b>今年圣诞行情开启的概率有多大？LPL Financial的分析师表示，过去70年标普指数在这七个交易日里有78.9%的几率走高。从近20年的历史数据来看，全年没有一个7天组合的收益率比「圣诞老人拉力赛」中的更高。即便向前追溯到1950年的数据，圣诞节这七天的平均收益率也达到了1.33%，是一年中第二好的7天组合。</b></p>\n<p>值得一提的是，高盛分析师预计，美股最近的回调波动将反转，主要原因是，1月开始会有超过1250亿美元的资金流入股市。圣诞涨势将推动美股再一次飙升，且随后的1月效应还会将其推得更高。</p>\n<p>如果我是华尔街，现在最佳的出货方式是什么？在1月中旬的财报季到来之前，先把股指拉升到一个难以想象的新高，让散户彻底变得疯狂，然后借助财报季的利好实现高位出货，这似乎是利益最大化的方式。</p>\n<p>当然市场即将进入融涨模式，纳指期货就是涨到18000都有可能，你可以理解成这是最后的疯狂了，所以我们需要在涨到17400左右，就要逐步开始减仓对冲。</p>\n<p>纳指暴涨1500点左右，这确实是一个很多人无法想象的高位，但又很快的的确确就会发生。本轮上涨的动能是什么？还是回到前几周文章的观点，那就是市场在极致抱团。</p>\n<p>这一波之所以股指有动能创新高，主要是机构洗盘了一段时间后，它们更加疯狂的抱紧巨头，更多资金买巨头，巨头涨的更多了。巨头的权重高，这些公司随便一涨，指数自然起飞。</p>\n<p>今年靠着超级巨头的暴涨把指数护住了，TFAANMG现在也已经涨成这样了，年底前再加速冲刺下创新高，明年拿什么去涨，这是一个很大的问题。</p>\n<p><b>大盘这个走势，基本就是享受最后的美好时光了，等巨头涨不动了，那基本就是全面崩盘了，想想Adobe (NASDAQ:ADBE)，这是第一家发四季度财报的科技巨头，业绩增速就明显放缓，后面的股价这就没撑住。</b></p>\n<p><b>注意一件事，这里的“巨头”，并不单单只是说被大家熟悉的TFAANMG七大巨头，其实还包括麦当劳公司 (NYSE:MCD)、家得宝公司 (NYSE:HD)、耐克 (NYSE:NKE)这些传统的蓝筹消费巨头。所谓巨头，指代的是可以跑赢通胀，估值不算高，并且具有稳定盈利能力，市值超过1000亿美元的大公司。</b></p>\n<p>反映“极致抱团”最具代表性的一家公司当属耐克，这家公司最新一季度的业绩增速只有1%，大中华地区营收暴跌20%，明年预期低个位数增长，就这么垃圾的业绩，竟然财报当天还一度跳空暴涨了接近10%。</p>\n<p>当前耐克 (NYSE:NKE)的市盈率已经高达44，以如此低的增速，还面临未来消费不振、供应链危机以及地缘政治风险，到底如何支撑了现在的高估值？我想答案只有一个：最后的疯狂。</p>\n<p><b>市场已经预期到，明年大部分公司的业绩，不仅没办法实现增长，反而大概率会出现下滑，这个时候耐克即使只能保持低个位数增长，也仍然受到了市场的青睐。</b></p>\n<p>ADBE的业绩暴雷已经给市场敲响了一记警钟，1月中旬开启的财报季将风险巨大，市场当前已经完美定价科技股的业绩，在如此高位之下，企业成绩单必须完美无瑕，否则大概率会被杀估值。</p>\n<p>从长期来看，今年好歹经济还在增长，美国因为发放补助，消费增长的还不错，货币还是宽松的，但成长股被杀估值，不少成长股都是高位腰斩。</p>\n<p>明年的经济增速大幅放缓，美国三季度的GDP增速只有2.3%了，说明放水对经济增长已经没作用了，明年马上也没法像今年这样发补助，美国人未来消费到时候肯定跟不上，通胀还在持续爆表，经济大概率进入滞涨。</p>\n<p>这个时候美联储还要加息，还要收紧货币政策，企业业绩增速大概率也要再放缓一下，那到时候就有的看了。今年只是被杀估值，明年将会是戴维斯双杀。</p>\n<p>当前市场，巨头还能继续涨，毕竟财报还没公布。业绩没公布，那就按照最好的预期去炒作：特斯拉要占据新能源电动车80%市场份额；苹果的VR和汽车业务未来五年可以贡献3000亿美元营收；微软的企业服务业务可以永远保持高增长；芯片绝对不会受到经济周期的影响.......</p>\n<p>上面这些预期有没有过于乐观，或者说过度炒作，这些并不是市场当前关注的，毕竟这需要一月底才能答案。美股就一直这样，利空没出现之前，那就全部都是利好消息，我们能做的，那就是顺势而为。</p>\n<p><b>明年美股的风险毫无疑问巨大，毕竟等什么时候巨头涨不动了，迎接我们的大概率应该就是全面崩盘，二线成长股明年也会被再次杀估值，并且这次估计会杀的昏天暗地，会比今年更加惨。</b></p>\n<p><b>当前二线成长股在大盘的带动下，又一次迎来了强劲的反弹，但我们应该清楚，这只是一次死猫跳。所以我们现在的策略很简单，那就是抱紧巨头。</b></p>\n<p>后市可能面临的情况：</p>\n<p>①大盘要回调了，减仓，并且只保留巨头的仓位。跌也跌不到哪里去。</p>\n<p>②大盘在震荡，保留一半现金，一半仓位买巨头。大盘震荡期间，巨头仍然可以跑赢大盘。</p>\n<p>③大盘要暴涨了，仍然是买巨头，不过会买点巨头的看涨期权，虽然期权杠杆高，但风险远低于二线成长股，结果还赚的多。</p>\n<p><b>最后的结论汇成一句话：抱紧巨头！</b></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>抱紧巨头，圣诞后美股可能来一次“全面大涨”！</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; 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n抱紧巨头，圣诞后美股可能来一次“全面大涨”！\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/e09c69c7ea1d4781a9de127f9b375dd6);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">美股研究社 </p>\n<p class=\"h-time\">2021-12-27 19:16</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>我们在之前文章里提到一个非常重要的观点——「当散户都在恐慌的时候，那一定不会是美股要崩盘的信号」，上周可以说得到了完美的印证。</p>\n<p>先来复盘下上周的走势——周一因为英国再次封锁，市场再次出现了一些恐慌，但并没有跌破纳指过去一年上升通道的支撑。<b>按照过去一年的经验来看，每当周一股指下滑的时候，接下来四天大多数情况都会上涨，很明显这是一次非常好的加仓机会。</b></p>\n<p>周一盘后美光科技公司 (NASDAQ:MU)交出了一份远超市场预期的财报，当日暴涨10.54%。存储芯片被广泛运用于汽车、电脑、手机和数据服务器等各个领域，这是科技公司业绩的风向标，MU的暴涨也带动了市场整体做多科技股的情绪。</p>\n<p>接下来三天，三大股指连续高开高走，走出了非常强劲的三根阳线，形成了“红三兵”的形态，纳指一举突破过去一个多月形成的下降通道阻力线，标普距离历史新高只有一步之遥，全面做多的局面已经形成。</p>\n<p><img src=\"https://static.tigerbbs.com/3997e0359476a98f7ffae9ef63ecff39\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>当前从纳指期货的技术形态来看，上方仅有16400一个关键阻力位了，这个阻力位之前连续进攻了好几次都没突破，现在距离这个位置只有100点，一旦突破，多头将变得不可阻挡。</p>\n<p>股指之所以能在如此短的时间内恢复上涨动能，特斯拉可以说居功至伟，在周一回踩箱体下沿支撑之后，这家公司一口气从886美元反弹到1067美元，上涨近20%。特斯拉的强劲复苏，也带动了股指的强势上攻。</p>\n<p><img src=\"https://static.tigerbbs.com/9abd548bb5d93757c521b052c0accc67\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p>这是不是一个好的现象？当然，并不是。特斯拉上周暴涨的原因，主要是因为马斯克宣布股票快卖光了。就这么一条消息，一家市值接近万亿美元的巨头波动能如此之大，毫无疑问给未来埋下了隐忧。</p>\n<p>当前市场变得极为投机，一个消息经常就能造成股指暴涨暴跌。股指暴涨暴跌，一般有两种可能：①机构在洗散户的筹码，为了进一步的暴力拉升做准备；②市场即将进入最后疯狂阶段，大盘迅速赶顶后将迎来暴跌。</p>\n<p>现在美股泡沫前所未有之大，股指也在如此高的位置，第一种可能并不是说没有，但第二种可能性，我想大家都会认为发生的概率大一些，所以这不得不令我们感到警惕。</p>\n<p>纳指期货的技术形态也暗示了最终的结果，当前市场明显形成了一个扩散三角形，短期确实还要去进攻扩散三角形的上边缘，差不多对应17600，换算成纳指，差不多就是16800，对应还有接近1500点的上涨空间。</p>\n<p>周一，亚马逊等零售公司将公布圣诞假期销售数据，这是纳指期货能否突破16400的关键消息。美国是一个消费型社会，零售数据可以反映出整个经济的健康，一旦超出预期，消费继续增长，市场对财报季将再次充满乐观预期。</p>\n<p>换句话说，周一的零售数据只要超预期，纳指期货必然会突破16400的阻力位。一旦突破出去，就会立马形成逼空上涨行情，以现在市场的疯狂程度，从16400涨到17600，可能只需要7个交易日。</p>\n<p>现在已经是年底的最后几个交易日，一般都会有Windows Dressing效应，机构会粉饰季度报表，最终造成强者恒强的走势，现在的强者都是超级巨头，所以自然能推动股指进一步暴涨。</p>\n<p>针对美股的「圣诞行情」，股票交易者年鉴创始人Yale Hirsch创建了一个名为「圣诞老人拉力赛」的统计方法，用来描述圣诞节前后7天（每年的最后两个交易日以及新一年的前两个交易日）的股市增长率。而这样的称呼，寓意着圣诞老人驾着雪橇，拉动股市持续上涨。</p>\n<p><img src=\"https://static.tigerbbs.com/da25d1404aba5368ac07e9b9f2c9f62e\" tg-width=\"1080\" tg-height=\"261\" referrerpolicy=\"no-referrer\"></p>\n<p><b>今年圣诞行情开启的概率有多大？LPL Financial的分析师表示，过去70年标普指数在这七个交易日里有78.9%的几率走高。从近20年的历史数据来看，全年没有一个7天组合的收益率比「圣诞老人拉力赛」中的更高。即便向前追溯到1950年的数据，圣诞节这七天的平均收益率也达到了1.33%，是一年中第二好的7天组合。</b></p>\n<p>值得一提的是，高盛分析师预计，美股最近的回调波动将反转，主要原因是，1月开始会有超过1250亿美元的资金流入股市。圣诞涨势将推动美股再一次飙升，且随后的1月效应还会将其推得更高。</p>\n<p>如果我是华尔街，现在最佳的出货方式是什么？在1月中旬的财报季到来之前，先把股指拉升到一个难以想象的新高，让散户彻底变得疯狂，然后借助财报季的利好实现高位出货，这似乎是利益最大化的方式。</p>\n<p>当然市场即将进入融涨模式，纳指期货就是涨到18000都有可能，你可以理解成这是最后的疯狂了，所以我们需要在涨到17400左右，就要逐步开始减仓对冲。</p>\n<p>纳指暴涨1500点左右，这确实是一个很多人无法想象的高位，但又很快的的确确就会发生。本轮上涨的动能是什么？还是回到前几周文章的观点，那就是市场在极致抱团。</p>\n<p>这一波之所以股指有动能创新高，主要是机构洗盘了一段时间后，它们更加疯狂的抱紧巨头，更多资金买巨头，巨头涨的更多了。巨头的权重高，这些公司随便一涨，指数自然起飞。</p>\n<p>今年靠着超级巨头的暴涨把指数护住了，TFAANMG现在也已经涨成这样了，年底前再加速冲刺下创新高，明年拿什么去涨，这是一个很大的问题。</p>\n<p><b>大盘这个走势，基本就是享受最后的美好时光了，等巨头涨不动了，那基本就是全面崩盘了，想想Adobe (NASDAQ:ADBE)，这是第一家发四季度财报的科技巨头，业绩增速就明显放缓，后面的股价这就没撑住。</b></p>\n<p><b>注意一件事，这里的“巨头”，并不单单只是说被大家熟悉的TFAANMG七大巨头，其实还包括麦当劳公司 (NYSE:MCD)、家得宝公司 (NYSE:HD)、耐克 (NYSE:NKE)这些传统的蓝筹消费巨头。所谓巨头，指代的是可以跑赢通胀，估值不算高，并且具有稳定盈利能力，市值超过1000亿美元的大公司。</b></p>\n<p>反映“极致抱团”最具代表性的一家公司当属耐克，这家公司最新一季度的业绩增速只有1%，大中华地区营收暴跌20%，明年预期低个位数增长，就这么垃圾的业绩，竟然财报当天还一度跳空暴涨了接近10%。</p>\n<p>当前耐克 (NYSE:NKE)的市盈率已经高达44，以如此低的增速，还面临未来消费不振、供应链危机以及地缘政治风险，到底如何支撑了现在的高估值？我想答案只有一个：最后的疯狂。</p>\n<p><b>市场已经预期到，明年大部分公司的业绩，不仅没办法实现增长，反而大概率会出现下滑，这个时候耐克即使只能保持低个位数增长，也仍然受到了市场的青睐。</b></p>\n<p>ADBE的业绩暴雷已经给市场敲响了一记警钟，1月中旬开启的财报季将风险巨大，市场当前已经完美定价科技股的业绩，在如此高位之下，企业成绩单必须完美无瑕，否则大概率会被杀估值。</p>\n<p>从长期来看，今年好歹经济还在增长，美国因为发放补助，消费增长的还不错，货币还是宽松的，但成长股被杀估值，不少成长股都是高位腰斩。</p>\n<p>明年的经济增速大幅放缓，美国三季度的GDP增速只有2.3%了，说明放水对经济增长已经没作用了，明年马上也没法像今年这样发补助，美国人未来消费到时候肯定跟不上，通胀还在持续爆表，经济大概率进入滞涨。</p>\n<p>这个时候美联储还要加息，还要收紧货币政策，企业业绩增速大概率也要再放缓一下，那到时候就有的看了。今年只是被杀估值，明年将会是戴维斯双杀。</p>\n<p>当前市场，巨头还能继续涨，毕竟财报还没公布。业绩没公布，那就按照最好的预期去炒作：特斯拉要占据新能源电动车80%市场份额；苹果的VR和汽车业务未来五年可以贡献3000亿美元营收；微软的企业服务业务可以永远保持高增长；芯片绝对不会受到经济周期的影响.......</p>\n<p>上面这些预期有没有过于乐观，或者说过度炒作，这些并不是市场当前关注的，毕竟这需要一月底才能答案。美股就一直这样，利空没出现之前，那就全部都是利好消息，我们能做的，那就是顺势而为。</p>\n<p><b>明年美股的风险毫无疑问巨大，毕竟等什么时候巨头涨不动了，迎接我们的大概率应该就是全面崩盘，二线成长股明年也会被再次杀估值，并且这次估计会杀的昏天暗地，会比今年更加惨。</b></p>\n<p><b>当前二线成长股在大盘的带动下，又一次迎来了强劲的反弹，但我们应该清楚，这只是一次死猫跳。所以我们现在的策略很简单，那就是抱紧巨头。</b></p>\n<p>后市可能面临的情况：</p>\n<p>①大盘要回调了，减仓，并且只保留巨头的仓位。跌也跌不到哪里去。</p>\n<p>②大盘在震荡，保留一半现金，一半仓位买巨头。大盘震荡期间，巨头仍然可以跑赢大盘。</p>\n<p>③大盘要暴涨了，仍然是买巨头，不过会买点巨头的看涨期权，虽然期权杠杆高，但风险远低于二线成长股，结果还赚的多。</p>\n<p><b>最后的结论汇成一句话：抱紧巨头！</b></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2578fef036607345dce47cc401e172a3","relate_stocks":{".DJI":"道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179406011","content_text":"我们在之前文章里提到一个非常重要的观点——「当散户都在恐慌的时候，那一定不会是美股要崩盘的信号」，上周可以说得到了完美的印证。\n先来复盘下上周的走势——周一因为英国再次封锁，市场再次出现了一些恐慌，但并没有跌破纳指过去一年上升通道的支撑。按照过去一年的经验来看，每当周一股指下滑的时候，接下来四天大多数情况都会上涨，很明显这是一次非常好的加仓机会。\n周一盘后美光科技公司 (NASDAQ:MU)交出了一份远超市场预期的财报，当日暴涨10.54%。存储芯片被广泛运用于汽车、电脑、手机和数据服务器等各个领域，这是科技公司业绩的风向标，MU的暴涨也带动了市场整体做多科技股的情绪。\n接下来三天，三大股指连续高开高走，走出了非常强劲的三根阳线，形成了“红三兵”的形态，纳指一举突破过去一个多月形成的下降通道阻力线，标普距离历史新高只有一步之遥，全面做多的局面已经形成。\n\n当前从纳指期货的技术形态来看，上方仅有16400一个关键阻力位了，这个阻力位之前连续进攻了好几次都没突破，现在距离这个位置只有100点，一旦突破，多头将变得不可阻挡。\n股指之所以能在如此短的时间内恢复上涨动能，特斯拉可以说居功至伟，在周一回踩箱体下沿支撑之后，这家公司一口气从886美元反弹到1067美元，上涨近20%。特斯拉的强劲复苏，也带动了股指的强势上攻。\n\n这是不是一个好的现象？当然，并不是。特斯拉上周暴涨的原因，主要是因为马斯克宣布股票快卖光了。就这么一条消息，一家市值接近万亿美元的巨头波动能如此之大，毫无疑问给未来埋下了隐忧。\n当前市场变得极为投机，一个消息经常就能造成股指暴涨暴跌。股指暴涨暴跌，一般有两种可能：①机构在洗散户的筹码，为了进一步的暴力拉升做准备；②市场即将进入最后疯狂阶段，大盘迅速赶顶后将迎来暴跌。\n现在美股泡沫前所未有之大，股指也在如此高的位置，第一种可能并不是说没有，但第二种可能性，我想大家都会认为发生的概率大一些，所以这不得不令我们感到警惕。\n纳指期货的技术形态也暗示了最终的结果，当前市场明显形成了一个扩散三角形，短期确实还要去进攻扩散三角形的上边缘，差不多对应17600，换算成纳指，差不多就是16800，对应还有接近1500点的上涨空间。\n周一，亚马逊等零售公司将公布圣诞假期销售数据，这是纳指期货能否突破16400的关键消息。美国是一个消费型社会，零售数据可以反映出整个经济的健康，一旦超出预期，消费继续增长，市场对财报季将再次充满乐观预期。\n换句话说，周一的零售数据只要超预期，纳指期货必然会突破16400的阻力位。一旦突破出去，就会立马形成逼空上涨行情，以现在市场的疯狂程度，从16400涨到17600，可能只需要7个交易日。\n现在已经是年底的最后几个交易日，一般都会有Windows Dressing效应，机构会粉饰季度报表，最终造成强者恒强的走势，现在的强者都是超级巨头，所以自然能推动股指进一步暴涨。\n针对美股的「圣诞行情」，股票交易者年鉴创始人Yale Hirsch创建了一个名为「圣诞老人拉力赛」的统计方法，用来描述圣诞节前后7天（每年的最后两个交易日以及新一年的前两个交易日）的股市增长率。而这样的称呼，寓意着圣诞老人驾着雪橇，拉动股市持续上涨。\n\n今年圣诞行情开启的概率有多大？LPL Financial的分析师表示，过去70年标普指数在这七个交易日里有78.9%的几率走高。从近20年的历史数据来看，全年没有一个7天组合的收益率比「圣诞老人拉力赛」中的更高。即便向前追溯到1950年的数据，圣诞节这七天的平均收益率也达到了1.33%，是一年中第二好的7天组合。\n值得一提的是，高盛分析师预计，美股最近的回调波动将反转，主要原因是，1月开始会有超过1250亿美元的资金流入股市。圣诞涨势将推动美股再一次飙升，且随后的1月效应还会将其推得更高。\n如果我是华尔街，现在最佳的出货方式是什么？在1月中旬的财报季到来之前，先把股指拉升到一个难以想象的新高，让散户彻底变得疯狂，然后借助财报季的利好实现高位出货，这似乎是利益最大化的方式。\n当然市场即将进入融涨模式，纳指期货就是涨到18000都有可能，你可以理解成这是最后的疯狂了，所以我们需要在涨到17400左右，就要逐步开始减仓对冲。\n纳指暴涨1500点左右，这确实是一个很多人无法想象的高位，但又很快的的确确就会发生。本轮上涨的动能是什么？还是回到前几周文章的观点，那就是市场在极致抱团。\n这一波之所以股指有动能创新高，主要是机构洗盘了一段时间后，它们更加疯狂的抱紧巨头，更多资金买巨头，巨头涨的更多了。巨头的权重高，这些公司随便一涨，指数自然起飞。\n今年靠着超级巨头的暴涨把指数护住了，TFAANMG现在也已经涨成这样了，年底前再加速冲刺下创新高，明年拿什么去涨，这是一个很大的问题。\n大盘这个走势，基本就是享受最后的美好时光了，等巨头涨不动了，那基本就是全面崩盘了，想想Adobe (NASDAQ:ADBE)，这是第一家发四季度财报的科技巨头，业绩增速就明显放缓，后面的股价这就没撑住。\n注意一件事，这里的“巨头”，并不单单只是说被大家熟悉的TFAANMG七大巨头，其实还包括麦当劳公司 (NYSE:MCD)、家得宝公司 (NYSE:HD)、耐克 (NYSE:NKE)这些传统的蓝筹消费巨头。所谓巨头，指代的是可以跑赢通胀，估值不算高，并且具有稳定盈利能力，市值超过1000亿美元的大公司。\n反映“极致抱团”最具代表性的一家公司当属耐克，这家公司最新一季度的业绩增速只有1%，大中华地区营收暴跌20%，明年预期低个位数增长，就这么垃圾的业绩，竟然财报当天还一度跳空暴涨了接近10%。\n当前耐克 (NYSE:NKE)的市盈率已经高达44，以如此低的增速，还面临未来消费不振、供应链危机以及地缘政治风险，到底如何支撑了现在的高估值？我想答案只有一个：最后的疯狂。\n市场已经预期到，明年大部分公司的业绩，不仅没办法实现增长，反而大概率会出现下滑，这个时候耐克即使只能保持低个位数增长，也仍然受到了市场的青睐。\nADBE的业绩暴雷已经给市场敲响了一记警钟，1月中旬开启的财报季将风险巨大，市场当前已经完美定价科技股的业绩，在如此高位之下，企业成绩单必须完美无瑕，否则大概率会被杀估值。\n从长期来看，今年好歹经济还在增长，美国因为发放补助，消费增长的还不错，货币还是宽松的，但成长股被杀估值，不少成长股都是高位腰斩。\n明年的经济增速大幅放缓，美国三季度的GDP增速只有2.3%了，说明放水对经济增长已经没作用了，明年马上也没法像今年这样发补助，美国人未来消费到时候肯定跟不上，通胀还在持续爆表，经济大概率进入滞涨。\n这个时候美联储还要加息，还要收紧货币政策，企业业绩增速大概率也要再放缓一下，那到时候就有的看了。今年只是被杀估值，明年将会是戴维斯双杀。\n当前市场，巨头还能继续涨，毕竟财报还没公布。业绩没公布，那就按照最好的预期去炒作：特斯拉要占据新能源电动车80%市场份额；苹果的VR和汽车业务未来五年可以贡献3000亿美元营收；微软的企业服务业务可以永远保持高增长；芯片绝对不会受到经济周期的影响.......\n上面这些预期有没有过于乐观，或者说过度炒作，这些并不是市场当前关注的，毕竟这需要一月底才能答案。美股就一直这样，利空没出现之前，那就全部都是利好消息，我们能做的，那就是顺势而为。\n明年美股的风险毫无疑问巨大，毕竟等什么时候巨头涨不动了，迎接我们的大概率应该就是全面崩盘，二线成长股明年也会被再次杀估值，并且这次估计会杀的昏天暗地，会比今年更加惨。\n当前二线成长股在大盘的带动下，又一次迎来了强劲的反弹，但我们应该清楚，这只是一次死猫跳。所以我们现在的策略很简单，那就是抱紧巨头。\n后市可能面临的情况：\n①大盘要回调了，减仓，并且只保留巨头的仓位。跌也跌不到哪里去。\n②大盘在震荡，保留一半现金，一半仓位买巨头。大盘震荡期间，巨头仍然可以跑赢大盘。\n③大盘要暴涨了，仍然是买巨头，不过会买点巨头的看涨期权，虽然期权杠杆高，但风险远低于二线成长股，结果还赚的多。\n最后的结论汇成一句话：抱紧巨头！","news_type":1},"isVote":1,"tweetType":1,"viewCount":1507,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698095907,"gmtCreate":1640256146931,"gmtModify":1640256146931,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>2022，AMD能延续强势吗","listText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>2022，AMD能延续强势吗","text":"$AMD(AMD)$2022，AMD能延续强势吗","images":[{"img":"https://static.tigerbbs.com/7205c8878784596fb486549b82b1b4ca","width":"1125","height":"2869"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/698095907","isVote":1,"tweetType":1,"viewCount":1164,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":691096159,"gmtCreate":1640095218276,"gmtModify":1640095218276,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"nio到底是供应链问题还是model Y蚕食了市场","listText":"nio到底是供应链问题还是model Y蚕食了市场","text":"nio到底是供应链问题还是model Y蚕食了市场","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691096159","repostId":"2193156023","repostType":2,"repost":{"id":"2193156023","pubTimestamp":1640092980,"share":"https://www.laohu8.com/m/news/2193156023?lang=&edition=full","pubTime":"2021-12-21 21:23","market":"us","language":"en","title":"5 Beaten-Down Growth Stocks That Can Soar in 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=2193156023","media":"Motley Fool","summary":"These high-flying stocks have all the tools necessary to regain their luster over the next year.","content":"<p>When the page turns on 2021 in just 10 days, it'll almost certainly go down as another successful year for the broad-market indexes. Through this past weekend, the benchmark <b>S&amp;P 500</b> had gained 23% year to date, which is well above its historic average annual return.</p>\n<p>But it's been a bit of a mixed year for growth stocks. While the FAANG stocks have held up well, quite a few of the high-growth innovators that thrived during the pandemic were pummeled this year. If you're looking for high-quality, beaten-down growth stocks to invest in, the following five could soar in 2022.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Fanalyzing-stock-market-growth-chart-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"464\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Nio</h2>\n<p>Once an electric vehicle (EV) darling on Wall Street, China-based EV manufacturer <b>Nio</b> (NYSE:NIO) lost its charge this year. Through Dec. 19, shares of the company were lower by 38%.</p>\n<p>Nio has been plagued for roughly half the year by supply chain issues (specifically semiconductor chip shortages) tied to the pandemic. However, with these supply issues beginning to resolve, Nio has a clear path to quickly boost its EV output and perhaps even push toward recurring profitability by the end of next year.</p>\n<p>In November, we received a pretty big clue that supply chain issues weren't holding the company back any longer. Deliveries for the month hit 10,878, which works out to more than 130,000 EVs on an annual run rate basis.&nbsp; With the company aiming to introduce three new vehicles next year, as well as lift its annual run rate to 600,000 EVs by year's end, Nio's shares could well be electric.</p>\n<p>Furthermore, don't overlook the importance of its battery-as-a-service (BaaS) program, which allows EV buyers to charge, swap, and upgrade their batteries. The BaaS service charges a recurring monthly fee and reduces the initial purchase price of Nio EVs. In exchange for giving up near-term revenue, the BaaS program will secure high-margin, long-term, fee-based revenue, and it'll provide added incentive for buyers to remain loyal to the Nio brand for a long time to come.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Fwoman-testing-server-data-center-network-wireless-iot-business-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Fastly</h2>\n<p>Edge cloud services provider <b>Fastly</b> (NYSE:FSLY) has been something of a train wreck in 2021. As of this past weekend, shares were lower by 53%, year to date.</p>\n<p>Fastly's woes are the result of bigger-than-expected operating losses as headcount and marketing expenses ramped up, as well as a service outage in June that caused the company to lose a handful of customers. Though the luster may be temporarily removed from this pandemic highflier, the long-term growth thesis remains firmly in place.</p>\n<p>Fastly is arguably best known as a content delivery network specialist. Its job is to ensure that content reaches end users as quickly and securely as possible. To that end, adjusted gross margin continues to hover around a juicy 60% (plus or minus 3%), and the company's total customer count keeps heading higher. With few exceptions, existing clients are consistently increasing their spending by a double-digit percentage on a year-over-year basis.</p>\n<p>Fastly also happens to be a clear and obvious beneficiary of growth in the metaverse -- the next iteration of the internet that allows users to interact in 3D virtual environments. One of the most critical aspects of making the metaverse tick will be reducing latency. In other words, minimizing lag in data-driven virtual worlds will be key, and Fastly should be up to the task.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Fcannabis-plant-marijuana-pot-weed-dried-flower-legal-canada-us-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"525\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Cresco Labs</h2>\n<p>Marijuana stocks started 2021 with a bang, but they've been an utter buzzkill since February. This is especially true for U.S. multi-state operator (MSO) <b>Cresco Labs</b> (OTC:CRLBF), whose shares have fallen 32% this year.</p>\n<p>Cannabis stocks like Cresco bolted higher earlier this year on the idea that newly elected President Joe Biden and a Democrat-led Congress would legalize pot at the federal level, or at worst pass cannabis banking reforms. Unfortunately, none of this has come to fruition and pot stock investors watched their early-year gains go up in smoke. Thankfully, federal legalization isn't a requirement for large-scale MSOs to thrive.</p>\n<p>Cresco currently has 45 operating dispensaries, with many focused on high-dollar markets (Florida) or limited-license states (like Illinois and Ohio). Regulators in limited-license markets purposely cap the number of dispensary licenses issued in total, as well as to a single business. Since Cresco doesn't have a huge retail presence, this license limitation actually works in its favor. It's able to build up its brands and garner a loyal following without being overrun by a larger MSO.</p>\n<p>What's more, Cresco Labs is the industry leader in wholesale cannabis. It holds a coveted cannabis distribution license in California, the leading market for weed sales in the world. This license allows the company to place its proprietary pot products into more than 575 dispensaries throughout the Golden State. Wholesale could be Cresco's key to reaching recurring profitability in 2022.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Ftelemedicine-patient-doctor-physician-virtual-conference-healthcare-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Teladoc Health</h2>\n<p>Another popular pandemic play that's been beaten down in 2021 is <b>Teladoc Health</b> (NYSE:TDOC). The United States' leading telehealth provider has seen shares dive 51% this year, and at <a href=\"https://laohu8.com/S/AONE.U\">one</a> point they fell more than 70% from their February 2021 all-time high.</p>\n<p>The concerns with Teladoc center on its wider-than-expected losses following the acquisition of applied health signals company Livongo Health, as well as skepticism that its growth rates are sustainable with the worst of the coronavirus pandemic (perhaps) in the rearview mirror. However, neither of these issues disrupts or alters the long-term thesis for Teladoc.</p>\n<p>For instance, Teladoc is completely changing the way personalized care is administered in the United States. It's offering a more convenient way for patients and doctors to connect, and making it much easier for physicians to keep tabs on chronically ill people. Ultimately, virtual visits can improve patient outcomes and lower healthcare costs, which is music to the ears of health insurers. Perhaps this is why Teladoc averaged 74% annual revenue growth in the six years leading up to the pandemic.</p>\n<p>The buyout of Livongo is also a key differentiator. Livongo leans on artificial intelligence to send tips and nudges to people with chronic illnesses to help them lead healthier lives. Thus far, it's primarily been focused on people with diabetes. Looking ahead, Livongo will target its services to include those with hypertension and weight management issues. Teladoc and Livongo being able to cross-sell their services should make this among the fastest-growing healthcare companies this decade.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Fwork-from-home-laptop-businesswoman-wheelchair-coffee-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Pinterest</h2>\n<p>A fifth beaten-down growth stock with the potential to soar in 2022 is social media platform <b>Pinterest</b> (NYSE:PINS). Shares are down nearly 45% this year, as of last weekend.</p>\n<p>Pinterest's miserable performance in 2021 can be explained by its monthly active user (MAU) figures. After delivering blistering MAU growth throughout the pandemic, the company's second-quarter and third-quarter MAU figures have sequentially declined. This drop from a peak of 478 million MAUs at the end of the first quarter to 444 million MAUs by the end of Q3 hasn't sat well with Wall Street.</p>\n<p>But there's another side to this story. Reset the binoculars to look at MAU growth over the past four or five years, and you'll see that user growth is still within historic norms. More importantly, Pinterest is generating incredible sales growth from monetizing its user base. Even though MAUs increased less than 1% in the third quarter, average revenue per user (ARPU) globally rose 37%, with international ARPU skyrocketing 81% from the prior-year period. This plainly shows that advertisers will pay big bucks to get their message in front of Pinterest's users.</p>\n<p>There's also a clear path for Pinterest to become a force in e-commerce this decade. Since its users freely post about the things, places, and services that interest them, there's no guesswork as to what they like. This allows merchants to effectively target their ad dollars at motivated shoppers. As long as Pinterest can keep users engaged, it'll be the perfect e-commerce middleman.</p>","source":"fool_stock","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>5 Beaten-Down Growth Stocks That Can Soar in 2022</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n5 Beaten-Down Growth Stocks That Can Soar in 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-21 21:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/12/21/5-beaten-down-growth-stocks-that-can-soar-in-2022/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When the page turns on 2021 in just 10 days, it'll almost certainly go down as another successful year for the broad-market indexes. Through this past weekend, the benchmark S&P 500 had gained 23% ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/21/5-beaten-down-growth-stocks-that-can-soar-in-2022/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","TDOC":"Teladoc Health Inc.","BK4531":"中概回港概念","BK4567":"ESG概念","BK4534":"瑞士信贷持仓","BK4555":"新能源车","NIO":"蔚来","BK4509":"腾讯概念","BK4508":"社交媒体","PINS":"Pinterest, Inc.","BK4167":"医疗保健技术","BK4077":"互动媒体与服务","BK4116":"互联网服务与基础架构","BK4526":"热门中概股","FSLY":"Fastly, Inc.","BK4551":"寇图资本持仓","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","BK4099":"汽车制造商","BK4548":"巴美列捷福持仓"},"source_url":"https://www.fool.com/investing/2021/12/21/5-beaten-down-growth-stocks-that-can-soar-in-2022/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2193156023","content_text":"When the page turns on 2021 in just 10 days, it'll almost certainly go down as another successful year for the broad-market indexes. Through this past weekend, the benchmark S&P 500 had gained 23% year to date, which is well above its historic average annual return.\nBut it's been a bit of a mixed year for growth stocks. While the FAANG stocks have held up well, quite a few of the high-growth innovators that thrived during the pandemic were pummeled this year. If you're looking for high-quality, beaten-down growth stocks to invest in, the following five could soar in 2022.\nImage source: Getty Images.\nNio\nOnce an electric vehicle (EV) darling on Wall Street, China-based EV manufacturer Nio (NYSE:NIO) lost its charge this year. Through Dec. 19, shares of the company were lower by 38%.\nNio has been plagued for roughly half the year by supply chain issues (specifically semiconductor chip shortages) tied to the pandemic. However, with these supply issues beginning to resolve, Nio has a clear path to quickly boost its EV output and perhaps even push toward recurring profitability by the end of next year.\nIn November, we received a pretty big clue that supply chain issues weren't holding the company back any longer. Deliveries for the month hit 10,878, which works out to more than 130,000 EVs on an annual run rate basis.  With the company aiming to introduce three new vehicles next year, as well as lift its annual run rate to 600,000 EVs by year's end, Nio's shares could well be electric.\nFurthermore, don't overlook the importance of its battery-as-a-service (BaaS) program, which allows EV buyers to charge, swap, and upgrade their batteries. The BaaS service charges a recurring monthly fee and reduces the initial purchase price of Nio EVs. In exchange for giving up near-term revenue, the BaaS program will secure high-margin, long-term, fee-based revenue, and it'll provide added incentive for buyers to remain loyal to the Nio brand for a long time to come.\nImage source: Getty Images.\nFastly\nEdge cloud services provider Fastly (NYSE:FSLY) has been something of a train wreck in 2021. As of this past weekend, shares were lower by 53%, year to date.\nFastly's woes are the result of bigger-than-expected operating losses as headcount and marketing expenses ramped up, as well as a service outage in June that caused the company to lose a handful of customers. Though the luster may be temporarily removed from this pandemic highflier, the long-term growth thesis remains firmly in place.\nFastly is arguably best known as a content delivery network specialist. Its job is to ensure that content reaches end users as quickly and securely as possible. To that end, adjusted gross margin continues to hover around a juicy 60% (plus or minus 3%), and the company's total customer count keeps heading higher. With few exceptions, existing clients are consistently increasing their spending by a double-digit percentage on a year-over-year basis.\nFastly also happens to be a clear and obvious beneficiary of growth in the metaverse -- the next iteration of the internet that allows users to interact in 3D virtual environments. One of the most critical aspects of making the metaverse tick will be reducing latency. In other words, minimizing lag in data-driven virtual worlds will be key, and Fastly should be up to the task.\nImage source: Getty Images.\nCresco Labs\nMarijuana stocks started 2021 with a bang, but they've been an utter buzzkill since February. This is especially true for U.S. multi-state operator (MSO) Cresco Labs (OTC:CRLBF), whose shares have fallen 32% this year.\nCannabis stocks like Cresco bolted higher earlier this year on the idea that newly elected President Joe Biden and a Democrat-led Congress would legalize pot at the federal level, or at worst pass cannabis banking reforms. Unfortunately, none of this has come to fruition and pot stock investors watched their early-year gains go up in smoke. Thankfully, federal legalization isn't a requirement for large-scale MSOs to thrive.\nCresco currently has 45 operating dispensaries, with many focused on high-dollar markets (Florida) or limited-license states (like Illinois and Ohio). Regulators in limited-license markets purposely cap the number of dispensary licenses issued in total, as well as to a single business. Since Cresco doesn't have a huge retail presence, this license limitation actually works in its favor. It's able to build up its brands and garner a loyal following without being overrun by a larger MSO.\nWhat's more, Cresco Labs is the industry leader in wholesale cannabis. It holds a coveted cannabis distribution license in California, the leading market for weed sales in the world. This license allows the company to place its proprietary pot products into more than 575 dispensaries throughout the Golden State. Wholesale could be Cresco's key to reaching recurring profitability in 2022.\nImage source: Getty Images.\nTeladoc Health\nAnother popular pandemic play that's been beaten down in 2021 is Teladoc Health (NYSE:TDOC). The United States' leading telehealth provider has seen shares dive 51% this year, and at one point they fell more than 70% from their February 2021 all-time high.\nThe concerns with Teladoc center on its wider-than-expected losses following the acquisition of applied health signals company Livongo Health, as well as skepticism that its growth rates are sustainable with the worst of the coronavirus pandemic (perhaps) in the rearview mirror. However, neither of these issues disrupts or alters the long-term thesis for Teladoc.\nFor instance, Teladoc is completely changing the way personalized care is administered in the United States. It's offering a more convenient way for patients and doctors to connect, and making it much easier for physicians to keep tabs on chronically ill people. Ultimately, virtual visits can improve patient outcomes and lower healthcare costs, which is music to the ears of health insurers. Perhaps this is why Teladoc averaged 74% annual revenue growth in the six years leading up to the pandemic.\nThe buyout of Livongo is also a key differentiator. Livongo leans on artificial intelligence to send tips and nudges to people with chronic illnesses to help them lead healthier lives. Thus far, it's primarily been focused on people with diabetes. Looking ahead, Livongo will target its services to include those with hypertension and weight management issues. Teladoc and Livongo being able to cross-sell their services should make this among the fastest-growing healthcare companies this decade.\nImage source: Getty Images.\nPinterest\nA fifth beaten-down growth stock with the potential to soar in 2022 is social media platform Pinterest (NYSE:PINS). Shares are down nearly 45% this year, as of last weekend.\nPinterest's miserable performance in 2021 can be explained by its monthly active user (MAU) figures. After delivering blistering MAU growth throughout the pandemic, the company's second-quarter and third-quarter MAU figures have sequentially declined. This drop from a peak of 478 million MAUs at the end of the first quarter to 444 million MAUs by the end of Q3 hasn't sat well with Wall Street.\nBut there's another side to this story. Reset the binoculars to look at MAU growth over the past four or five years, and you'll see that user growth is still within historic norms. More importantly, Pinterest is generating incredible sales growth from monetizing its user base. Even though MAUs increased less than 1% in the third quarter, average revenue per user (ARPU) globally rose 37%, with international ARPU skyrocketing 81% from the prior-year period. This plainly shows that advertisers will pay big bucks to get their message in front of Pinterest's users.\nThere's also a clear path for Pinterest to become a force in e-commerce this decade. Since its users freely post about the things, places, and services that interest them, there's no guesswork as to what they like. This allows merchants to effectively target their ad dollars at motivated shoppers. As long as Pinterest can keep users engaged, it'll be the perfect e-commerce middleman.","news_type":1},"isVote":1,"tweetType":1,"viewCount":690,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691091555,"gmtCreate":1640095008489,"gmtModify":1640095008489,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$</a>继续加油","listText":"<a 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href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>大胆预测钢铁侠有朝一日会成为第一大富豪","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>大胆预测钢铁侠有朝一日会成为第一大富豪","text":"$Tesla Motors(TSLA)$大胆预测钢铁侠有朝一日会成为第一大富豪","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/390674633","isVote":1,"tweetType":1,"viewCount":1184,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3502235810145705","authorId":"3502235810145705","name":"honinbou","avatar":"https://static.tigerbbs.com/8cb1b614f82d654f3db6270582de2b3d","crmLevel":8,"crmLevelSwitch":0,"idStr":"3502235810145705","authorIdStr":"3502235810145705"},"content":"板上钉钉的，spacex都还没算呢。而且spacex已经盈利了。另外超级高铁，脑机接口都有很大的想象空间。","text":"板上钉钉的，spacex都还没算呢。而且spacex已经盈利了。另外超级高铁，脑机接口都有很大的想象空间。","html":"板上钉钉的，spacex都还没算呢。而且spacex已经盈利了。另外超级高铁，脑机接口都有很大的想象空间。"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":970527786,"gmtCreate":1597844380245,"gmtModify":1704216954888,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>坐等市值突破两万亿","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>坐等市值突破两万亿","text":"$Apple(AAPL)$坐等市值突破两万亿","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/970527786","isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":878135960,"gmtCreate":1637158606995,"gmtModify":1637158606995,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"还未量产交付就全球第三大市值车企，这市梦率简直离谱","listText":"还未量产交付就全球第三大市值车企，这市梦率简直离谱","text":"还未量产交付就全球第三大市值车企，这市梦率简直离谱","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/878135960","repostId":"1134181271","repostType":4,"repost":{"id":"1134181271","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1637156258,"share":"https://www.laohu8.com/m/news/1134181271?lang=&edition=full","pubTime":"2021-11-17 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nRivian盘前股价大幅回撤，由上涨转为跌超8%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-11-17 21:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>周三，近日火爆的电动车企业Rivian盘前股价大幅走低，截至发稿由上涨转为跌超8%。昨日，Rivian涨超15%，市值达1467亿美元，超越大众汽车，破天荒地爬到全球车企第三位。</p>\n<p><img src=\"https://static.tigerbbs.com/facb96f7a57d205595415dc19b2a72b6\" tg-width=\"1393\" tg-height=\"924\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/30f8fea9fd4809eebdee41ddd714ba0c","relate_stocks":{"RIVN":"Rivian Automotive, Inc."},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134181271","content_text":"周三，近日火爆的电动车企业Rivian盘前股价大幅走低，截至发稿由上涨转为跌超8%。昨日，Rivian涨超15%，市值达1467亿美元，超越大众汽车，破天荒地爬到全球车企第三位。","news_type":1},"isVote":1,"tweetType":1,"viewCount":910,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":694224498,"gmtCreate":1642000118384,"gmtModify":1642000118384,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"2032，十年之后大家最看好英伟达、微软还是特斯拉？","listText":"2032，十年之后大家最看好英伟达、微软还是特斯拉？","text":"2032，十年之后大家最看好英伟达、微软还是特斯拉？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/694224498","repostId":"2202786996","repostType":2,"repost":{"id":"2202786996","pubTimestamp":1641964590,"share":"https://www.laohu8.com/m/news/2202786996?lang=&edition=full","pubTime":"2022-01-12 13:16","market":"us","language":"en","title":"Prediction: These Will Be 3 of the Biggest Stocks by 2032","url":"https://stock-news.laohu8.com/highlight/detail?id=2202786996","media":"Motley Fool","summary":"The new year is a great time for a fresh start, but don't lose sight of the long-term potential of these technology stocks.","content":"<html><head></head><body><p>We&#39;re a couple of weeks removed from new-year celebrations. Now that 2022 is officially underway, it&#39;s time for investors to reset their focus to where the real wealth is built: the long term.</p><p>It&#39;s no secret that technology moves fast, and each decade seems to bring an even greater acceleration of progress than the last. It seems crazy, but the first <b>Apple </b>(NASDAQ:AAPL) iPhone was released just 15 years ago, and now we&#39;re living in a world with artificial intelligence and the prospect of a virtual existence in the metaverse.</p><p>With innovation moving at that pace, most of us would struggle to imagine what life looks like 10 years from now. But if these three companies have anything to do with it, the future will be incredibly exciting. That&#39;s why I think they&#39;ll be three of the best stock performers between now and 2032.</p><h2>1. The case for Nvidia</h2><p>Semiconductor innovator <b>Nvidia</b> (NASDAQ:NVDA) is currently the world&#39;s ninth-largest company, rising to prominence thanks to its incredibly powerful graphics computer chips, which are now the most sought-after in the industry. But it&#39;s also innovating in other areas, like platform technologies and software, and that&#39;s why it&#39;s set to climb up the ranks to be <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the biggest stocks by 2032.</p><p>The company&#39;s largest segment right now is gaming, with consumers clamoring to buy its graphics hardware year after year. Nvidia&#39;s GeForce Now gaming platform is an example of how the company has pivoted into new verticals, with 14 million gamers now accessing their favorite titles through the cloud-based service, which frees users from needing patches or updates.</p><p>Nvidia&#39;s data center segment is a close second by revenue. However, the company&#39;s future might not be built on gaming or data centers but instead on a couple of its smaller emerging segments. One of them is automotive, where the company has built an entire ecosystem called Nvidia DRIVE -- a suite of tools to train autonomous technologies through artificial intelligence. It&#39;s an end-to-end platform that allows developers to build self-driving tech and maintain it once cars are on the road.</p><p>Nvidia&#39;s Omniverse is another exciting prospect, which falls under its professional visualization segment. The Omniverse helps companies design and build virtual 3D concepts of products or systems they hope to bring to market in a hyper-realistic environment. With the potential of the metaverse for social applications, Nvidia might have an incredible opportunity ahead of it.</p><p>The automotive and professional visualization segments make up just 10% of the company&#39;s total revenue right now. Since Nvidia is already highly profitable on the back of its gaming and data center segments, with $4.34 in estimated 2022 earnings per share, it&#39;s a great way to gain low-risk exposure to the innovative technologies of the future.</p><h2>2. The case for Microsoft</h2><p>Most consumers know <b>Microsoft </b>(NASDAQ:MSFT) for its Windows computer operating system or its Office 365 suite of products -- after all, they&#39;re used by billions of people worldwide. But even though Microsoft has been a dominant technology company for decades, its consumer offerings alone aren&#39;t enough to keep it on top.</p><p>Today, its largest segment by revenue is focused on serving businesses. Microsoft&#39;s Azure platform has grown to become the second-largest provider of cloud services in the world, behind <b>Amazon</b> Web Services. Cloud computing, put simply, allows companies to access their applications and data online rather than having them installed locally on individual devices. This allows for a new, collaborative approach to work even if key employees are located in different parts of the world.</p><p>Between now and the year 2026, the size of the cloud computing industry is expected to more than double to $947 billion in annual spend so Microsoft has a huge opportunity to leverage its No. 2 ranking to capture even more market share. If that industry estimate rings true by 2026, it means cloud computing as a whole would have grown at an annual rate of 16%. By comparison, Microsoft&#39;s cloud segment grew at a rate of 24% in fiscal 2021, suggesting that its slice of the pie is already expanding relative to its competitors.</p><p>Microsoft is a $2.3 trillion company at the moment, making it the second-largest in the world behind its direct competitor Apple, and the law of large numbers makes it more difficult to generate growth at this level. Yet Microsoft is delivering, and based on estimated 2022 earnings per share of $9.21, its stock trades at a forward multiple of 34. That&#39;s cheaper than the <b>Nasdaq 100</b> technology index right now, which trades at a multiple of 38.</p><p>Microsoft is a reasonably priced stock with a dominant market position and a huge growth runway thanks to its cloud segment. That&#39;s why it&#39;s set to remain one of the strongest companies in 2032.</p><h2>3. The case for Tesla</h2><p>Perhaps no company in recent memory has had more doubt cast over it than electric vehicle powerhouse <b>Tesla</b> (NASDAQ:TSLA). The approach of the company&#39;s eccentric CEO Elon Musk isn&#39;t to everybody&#39;s taste, but there&#39;s no denying the incredible progress Tesla has made in advancing electric vehicle technology. Nor can investors deny these cars in general are the future, with governments incentivizing their use all over the world.</p><p>Tesla holds the No. 1 spot for electric vehicle sales right now, but many competitors are nipping at its heels. Still, its brand is synonymous with the EV revolution, and its innovation in other areas like renewable energy sets it apart from traditional car manufacturers. In 2016, Tesla acquired SolarCity, which was being run (in part) by Musk, allowing Tesla to enter entirely new markets, including residential energy generation and storage.</p><p>Given Musk&#39;s involvement in other game-changing enterprises like <b>SpaceX</b>, outside-the-box thinkers might wonder whether Tesla could expand even further into new areas through acquisitions. While unlikely for now, nothing is ever out of the question with Tesla -- it invested over $1 billion into the cryptocurrency <b>Bitcoin</b>, after all.</p><p>What is certain, though, is the imminent opening of Tesla&#39;s brand-new factories in Texas, U.S., and Berlin, Germany. These will help the company double the production of its electric vehicles, advancing its ability to compete like-for-like with larger automakers who have greater existing capacity. It won&#39;t stop there, with rumors flying about new factories in Asia, as well as more in Europe, the U.S., and possibly the U.K.</p><p>Tesla has a cash pile of over $16 billion, so it has no shortage of options when it comes to expansion.</p><p>Tesla&#39;s stock trades at a sky-high price-to-earnings multiple of 163 based on 2021 earnings per share of $6.26. Remember, the Nasdaq 100 trades at a multiple of 38, so Tesla is materially more expensive than the broader market. However, analysts expect the company to grow revenue by 41% in 2022 to over $73 billion, and that growth rate warrants a premium share price.</p><p>If Tesla maintains its leadership position in electric vehicles for the next 10 years while also growing its smaller segments, there&#39;s no doubt it could be one of the world&#39;s top companies in 2032.</p></body></html>","source":"fool_stock","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>Prediction: These Will Be 3 of the Biggest Stocks by 2032</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nPrediction: These Will Be 3 of the Biggest Stocks by 2032\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-12 13:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/01/11/prediction-3-of-the-biggest-stocks-by-2032/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We're a couple of weeks removed from new-year celebrations. Now that 2022 is officially underway, it's time for investors to reset their focus to where the real wealth is built: the long term.It's no ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/01/11/prediction-3-of-the-biggest-stocks-by-2032/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4097":"系统软件","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","TSLA":"特斯拉","BK4099":"汽车制造商","BK4549":"软银资本持仓","BK4548":"巴美列捷福持仓","BK4170":"电脑硬件、储存设备及电脑周边","BK4529":"IDC概念","MSFT":"微软","BK4528":"SaaS概念","BK4516":"特朗普概念","BK4532":"文艺复兴科技持仓","BK4515":"5G概念","BK4554":"元宇宙及AR概念","AAPL":"苹果","BK4553":"喜马拉雅资本持仓","BK4567":"ESG概念","BK4507":"流媒体概念","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4555":"新能源车","BK4566":"资本集团","BK4525":"远程办公概念","BK4535":"淡马锡持仓","NVDA":"英伟达","BK4543":"AI","BK4527":"明星科技股","BK4501":"段永平概念","BK4538":"云计算","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓","BK4141":"半导体产品","BK4503":"景林资产持仓","BK4551":"寇图资本持仓"},"source_url":"https://www.fool.com/investing/2022/01/11/prediction-3-of-the-biggest-stocks-by-2032/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2202786996","content_text":"We're a couple of weeks removed from new-year celebrations. Now that 2022 is officially underway, it's time for investors to reset their focus to where the real wealth is built: the long term.It's no secret that technology moves fast, and each decade seems to bring an even greater acceleration of progress than the last. It seems crazy, but the first Apple (NASDAQ:AAPL) iPhone was released just 15 years ago, and now we're living in a world with artificial intelligence and the prospect of a virtual existence in the metaverse.With innovation moving at that pace, most of us would struggle to imagine what life looks like 10 years from now. But if these three companies have anything to do with it, the future will be incredibly exciting. That's why I think they'll be three of the best stock performers between now and 2032.1. The case for NvidiaSemiconductor innovator Nvidia (NASDAQ:NVDA) is currently the world's ninth-largest company, rising to prominence thanks to its incredibly powerful graphics computer chips, which are now the most sought-after in the industry. But it's also innovating in other areas, like platform technologies and software, and that's why it's set to climb up the ranks to be one of the biggest stocks by 2032.The company's largest segment right now is gaming, with consumers clamoring to buy its graphics hardware year after year. Nvidia's GeForce Now gaming platform is an example of how the company has pivoted into new verticals, with 14 million gamers now accessing their favorite titles through the cloud-based service, which frees users from needing patches or updates.Nvidia's data center segment is a close second by revenue. However, the company's future might not be built on gaming or data centers but instead on a couple of its smaller emerging segments. One of them is automotive, where the company has built an entire ecosystem called Nvidia DRIVE -- a suite of tools to train autonomous technologies through artificial intelligence. It's an end-to-end platform that allows developers to build self-driving tech and maintain it once cars are on the road.Nvidia's Omniverse is another exciting prospect, which falls under its professional visualization segment. The Omniverse helps companies design and build virtual 3D concepts of products or systems they hope to bring to market in a hyper-realistic environment. With the potential of the metaverse for social applications, Nvidia might have an incredible opportunity ahead of it.The automotive and professional visualization segments make up just 10% of the company's total revenue right now. Since Nvidia is already highly profitable on the back of its gaming and data center segments, with $4.34 in estimated 2022 earnings per share, it's a great way to gain low-risk exposure to the innovative technologies of the future.2. The case for MicrosoftMost consumers know Microsoft (NASDAQ:MSFT) for its Windows computer operating system or its Office 365 suite of products -- after all, they're used by billions of people worldwide. But even though Microsoft has been a dominant technology company for decades, its consumer offerings alone aren't enough to keep it on top.Today, its largest segment by revenue is focused on serving businesses. Microsoft's Azure platform has grown to become the second-largest provider of cloud services in the world, behind Amazon Web Services. Cloud computing, put simply, allows companies to access their applications and data online rather than having them installed locally on individual devices. This allows for a new, collaborative approach to work even if key employees are located in different parts of the world.Between now and the year 2026, the size of the cloud computing industry is expected to more than double to $947 billion in annual spend so Microsoft has a huge opportunity to leverage its No. 2 ranking to capture even more market share. If that industry estimate rings true by 2026, it means cloud computing as a whole would have grown at an annual rate of 16%. By comparison, Microsoft's cloud segment grew at a rate of 24% in fiscal 2021, suggesting that its slice of the pie is already expanding relative to its competitors.Microsoft is a $2.3 trillion company at the moment, making it the second-largest in the world behind its direct competitor Apple, and the law of large numbers makes it more difficult to generate growth at this level. Yet Microsoft is delivering, and based on estimated 2022 earnings per share of $9.21, its stock trades at a forward multiple of 34. That's cheaper than the Nasdaq 100 technology index right now, which trades at a multiple of 38.Microsoft is a reasonably priced stock with a dominant market position and a huge growth runway thanks to its cloud segment. That's why it's set to remain one of the strongest companies in 2032.3. The case for TeslaPerhaps no company in recent memory has had more doubt cast over it than electric vehicle powerhouse Tesla (NASDAQ:TSLA). The approach of the company's eccentric CEO Elon Musk isn't to everybody's taste, but there's no denying the incredible progress Tesla has made in advancing electric vehicle technology. Nor can investors deny these cars in general are the future, with governments incentivizing their use all over the world.Tesla holds the No. 1 spot for electric vehicle sales right now, but many competitors are nipping at its heels. Still, its brand is synonymous with the EV revolution, and its innovation in other areas like renewable energy sets it apart from traditional car manufacturers. In 2016, Tesla acquired SolarCity, which was being run (in part) by Musk, allowing Tesla to enter entirely new markets, including residential energy generation and storage.Given Musk's involvement in other game-changing enterprises like SpaceX, outside-the-box thinkers might wonder whether Tesla could expand even further into new areas through acquisitions. While unlikely for now, nothing is ever out of the question with Tesla -- it invested over $1 billion into the cryptocurrency Bitcoin, after all.What is certain, though, is the imminent opening of Tesla's brand-new factories in Texas, U.S., and Berlin, Germany. These will help the company double the production of its electric vehicles, advancing its ability to compete like-for-like with larger automakers who have greater existing capacity. It won't stop there, with rumors flying about new factories in Asia, as well as more in Europe, the U.S., and possibly the U.K.Tesla has a cash pile of over $16 billion, so it has no shortage of options when it comes to expansion.Tesla's stock trades at a sky-high price-to-earnings multiple of 163 based on 2021 earnings per share of $6.26. Remember, the Nasdaq 100 trades at a multiple of 38, so Tesla is materially more expensive than the broader market. However, analysts expect the company to grow revenue by 41% in 2022 to over $73 billion, and that growth rate warrants a premium share price.If Tesla maintains its leadership position in electric vehicles for the next 10 years while also growing its smaller segments, there's no doubt it could be one of the world's top companies in 2032.","news_type":1},"isVote":1,"tweetType":1,"viewCount":3513,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3499987038693083","authorId":"3499987038693083","name":"楚天佑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"idStr":"3499987038693083","authorIdStr":"3499987038693083"},"content":"再可见的未来，特斯拉电动车业务会被人追上，英伟达的显卡还没有人能追上，AMD显卡差距很大呀。","text":"再可见的未来，特斯拉电动车业务会被人追上，英伟达的显卡还没有人能追上，AMD显卡差距很大呀。","html":"再可见的未来，特斯拉电动车业务会被人追上，英伟达的显卡还没有人能追上，AMD显卡差距很大呀。"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":390674633,"gmtCreate":1605796387622,"gmtModify":1703839662576,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla 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英伟达亮眼财报为何遭市场冷眼","htmlText":"作者：昨辰摘要：数据中心仍为主要增长驱动力，供应链问题市场过于担忧2月16日盘后，英伟达发布超预期财报，游戏、数据中心和专业可视化三大业务营收连续两季创新高，带动全年营收暴增61%续创新高。尽管英伟达财报情况及下季指引均好于预期，但盘后竟然转跌？我们详细来看。截止22年2月16日收盘，英伟达21年全年涨幅为125.49%，22年至今涨幅为-9.86%，跑输同期标普500指数ETF(SPY：-5.97%)及费城半导体指数(SOXX：-9.6%)的涨幅，跑赢了同期纳指100ETF(QQQ：-10.51%)。从财报来看，英伟达继续保持高增长，FY22Q4营收同比增52.8%至76.43亿美元（预期74.2亿美元），连续七个季度业绩超预期；净利同比增96.6%至28.65亿美元；摊薄后EPS同比增12.8%至1.32美元（预期1.22美元）。全年营收同比增61.4%至269.14亿美元；净利同比增36.2%至97.52亿美元；摊薄后EPS同比翻倍（增123%）至创纪录的3.85美元。分业务来看：游戏、数据中心及专业可视化三项业务营收连续两季创新高。游戏业务依旧是英伟达营收的主要来源，但数据中心部门对英伟达未来发展的重要性越发凸显，是公司未来增长的主引擎。（1）游戏：疫情反复之下，宅家逐渐成为常态，对于游戏芯片的需求持续高涨近日，市场研究公司Newzoo发布的最新报告显示：2021年全球游戏市场总收入预计将达到1803亿美元，同比增长1.4%。虽然PC和主机游戏的全球收入均出现了小幅下滑（0.8%和6.6%），但手游市场继续保持着增长势头，932亿美元的年收入相比2020年上升7.3%，占全球游戏市场总收入的52%以上。2022年1月，中国移动游戏市场实际销售收入222.40亿元，环比增长20.25%，同比增长17.76%。这些强劲数据的背后，自然意味着英伟达生意好得不行：FY22Q","listText":"作者：昨辰摘要：数据中心仍为主要增长驱动力，供应链问题市场过于担忧2月16日盘后，英伟达发布超预期财报，游戏、数据中心和专业可视化三大业务营收连续两季创新高，带动全年营收暴增61%续创新高。尽管英伟达财报情况及下季指引均好于预期，但盘后竟然转跌？我们详细来看。截止22年2月16日收盘，英伟达21年全年涨幅为125.49%，22年至今涨幅为-9.86%，跑输同期标普500指数ETF(SPY：-5.97%)及费城半导体指数(SOXX：-9.6%)的涨幅，跑赢了同期纳指100ETF(QQQ：-10.51%)。从财报来看，英伟达继续保持高增长，FY22Q4营收同比增52.8%至76.43亿美元（预期74.2亿美元），连续七个季度业绩超预期；净利同比增96.6%至28.65亿美元；摊薄后EPS同比增12.8%至1.32美元（预期1.22美元）。全年营收同比增61.4%至269.14亿美元；净利同比增36.2%至97.52亿美元；摊薄后EPS同比翻倍（增123%）至创纪录的3.85美元。分业务来看：游戏、数据中心及专业可视化三项业务营收连续两季创新高。游戏业务依旧是英伟达营收的主要来源，但数据中心部门对英伟达未来发展的重要性越发凸显，是公司未来增长的主引擎。（1）游戏：疫情反复之下，宅家逐渐成为常态，对于游戏芯片的需求持续高涨近日，市场研究公司Newzoo发布的最新报告显示：2021年全球游戏市场总收入预计将达到1803亿美元，同比增长1.4%。虽然PC和主机游戏的全球收入均出现了小幅下滑（0.8%和6.6%），但手游市场继续保持着增长势头，932亿美元的年收入相比2020年上升7.3%，占全球游戏市场总收入的52%以上。2022年1月，中国移动游戏市场实际销售收入222.40亿元，环比增长20.25%，同比增长17.76%。这些强劲数据的背后，自然意味着英伟达生意好得不行：FY22Q","text":"作者：昨辰摘要：数据中心仍为主要增长驱动力，供应链问题市场过于担忧2月16日盘后，英伟达发布超预期财报，游戏、数据中心和专业可视化三大业务营收连续两季创新高，带动全年营收暴增61%续创新高。尽管英伟达财报情况及下季指引均好于预期，但盘后竟然转跌？我们详细来看。截止22年2月16日收盘，英伟达21年全年涨幅为125.49%，22年至今涨幅为-9.86%，跑输同期标普500指数ETF(SPY：-5.97%)及费城半导体指数(SOXX：-9.6%)的涨幅，跑赢了同期纳指100ETF(QQQ：-10.51%)。从财报来看，英伟达继续保持高增长，FY22Q4营收同比增52.8%至76.43亿美元（预期74.2亿美元），连续七个季度业绩超预期；净利同比增96.6%至28.65亿美元；摊薄后EPS同比增12.8%至1.32美元（预期1.22美元）。全年营收同比增61.4%至269.14亿美元；净利同比增36.2%至97.52亿美元；摊薄后EPS同比翻倍（增123%）至创纪录的3.85美元。分业务来看：游戏、数据中心及专业可视化三项业务营收连续两季创新高。游戏业务依旧是英伟达营收的主要来源，但数据中心部门对英伟达未来发展的重要性越发凸显，是公司未来增长的主引擎。（1）游戏：疫情反复之下，宅家逐渐成为常态，对于游戏芯片的需求持续高涨近日，市场研究公司Newzoo发布的最新报告显示：2021年全球游戏市场总收入预计将达到1803亿美元，同比增长1.4%。虽然PC和主机游戏的全球收入均出现了小幅下滑（0.8%和6.6%），但手游市场继续保持着增长势头，932亿美元的年收入相比2020年上升7.3%，占全球游戏市场总收入的52%以上。2022年1月，中国移动游戏市场实际销售收入222.40亿元，环比增长20.25%，同比增长17.76%。这些强劲数据的背后，自然意味着英伟达生意好得不行：FY22Q","images":[{"img":"https://static.tigerbbs.com/9cc167dea76dc7915e6add2c004e1e05","width":"632","height":"339"},{"img":"https://static.tigerbbs.com/d9cab99cc014b4515f8f454faf36ebfc","width":"632","height":"379"},{"img":"https://static.tigerbbs.com/3ca688d801bb5733444f6dd5a921ce0e","width":"632","height":"346"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638349296","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":7,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1650,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638933033,"gmtCreate":1645019303897,"gmtModify":1645019303897,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"这篇文章不错，转发给大家看看","listText":"这篇文章不错，转发给大家看看","text":"这篇文章不错，转发给大家看看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638933033","repostId":"1175916852","repostType":4,"repost":{"id":"1175916852","pubTimestamp":1645014736,"share":"https://www.laohu8.com/m/news/1175916852?lang=&edition=full","pubTime":"2022-02-16 20:32","market":"us","language":"zh","title":"小人物逆袭：印度小伙11年押注1家公司，去年暴赚20亿美元","url":"https://stock-news.laohu8.com/highlight/detail?id=1175916852","media":"华尔街见闻","summary":"在永不停歇的资本市场里，时刻都有人在演绎着自己的故事。","content":"<html><head></head><body><p>作者：朱雪莹</p><p>在永不停歇的资本市场里，时刻都有人在演绎着自己的故事。</p><p>只不过有的人上演亏损传奇，比如一举将<a href=\"https://laohu8.com/S/GS\">高盛</a>撂倒，创下“人类史上最大单日亏损”的Bill Hwang，但有的人则缔造狂赚传说，用“11年20亿”来证明自己坚持的意义。</p><p>他就是Karthik Sarma。</p><p><b>01“平平无奇”Karthik Sarma，一朝登顶</b></p><p>在彭博社发布2021年度对冲基金经理收入排行榜之前，很少有人知道Karthik Sarma，外界最多就是知道他之前在老虎环球工作过。</p><p>然而当老虎环球的创始人Chase Coleman都被挤出排行榜，<b>Sarma却一举闯进年度收入前三甲时</b>，大家纷纷扒开他的简历从头看到尾，仔细程度就像是能看出他是怎么赚钱的一样。</p><p><img src=\"https://static.tigerbbs.com/20d5631d4ded80529739333c3940cddb\" tg-width=\"777\" tg-height=\"392\" referrerpolicy=\"no-referrer\"/></p><p><img src=\"https://static.tigerbbs.com/5500e4438cbcb0b5d7b005d69b3e8d00\" tg-width=\"774\" tg-height=\"756\" referrerpolicy=\"no-referrer\"/></p><p>Karthik Sarma，印度人，在人生的前20多年都在认真践行一个优秀印度人会有的人生轨迹：</p><p>学工程，去美国，做金融。</p><p><img src=\"https://static.tigerbbs.com/9683d1903ce50341dafa33502394d522\" tg-width=\"1080\" tg-height=\"548\" referrerpolicy=\"no-referrer\"/></p><p>Sarma1996年从印度理工学院毕业，之后去了美国普林斯顿大学攻读运筹学硕士。</p><p>毕业之后先在麦肯锡工作了三年，随后在2001年加入了当时才成立不久的老虎环球，当时江湖传言他是老虎环球“最有天分”的员工。</p><p>干了五年之后，Sarma自立门户，创立了SRS Investment Management，正式开启了自己在华尔街的精彩人生。</p><p>或许是厌倦了上学期间“循规蹈矩”的生活，Sarma的行事作风和走精英路线的传统华尔街金融人士很不相同。</p><p>你以为的华尔街基金经理都是这样：西装革履，眼神中满是思索。</p><p><img src=\"https://static.tigerbbs.com/ddac3a54a60d590150bfa3cc1e488136\" tg-width=\"540\" tg-height=\"303\" referrerpolicy=\"no-referrer\"/></p><p>但Sarma看起来是这样：休闲衬衣，眼神中好像还略带懵懂。</p><p><img src=\"https://static.tigerbbs.com/92a1d7f5f6652207e8a148f140130aba\" tg-width=\"640\" tg-height=\"480\" referrerpolicy=\"no-referrer\"/></p><p>你以为他的办公室应该是这样：N个屏幕，即刻洞悉全球金融态势。</p><p><img src=\"https://static.tigerbbs.com/f4beca9bdd2dc8a7934ae43e1fca1e40\" tg-width=\"550\" tg-height=\"285\" referrerpolicy=\"no-referrer\"/></p><p>但其实Sarma在疫情之后一直住在他姐姐家里，办公环境大概是这种：一台电脑，屏幕可能还没有你家的大。</p><p><img src=\"https://static.tigerbbs.com/33f9ff841d96d63c3a176af9edd25dd9\" tg-width=\"550\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/></p><p>这确实很不“华尔街”。</p><p>虽然看起来Sarma的生活没有很多金融人士那么精致，但是这并不妨碍他在赚钱方面一骑绝尘。</p><p>2021年Sarma本人大赚20亿美元，个人净资产直接增加了两倍，而这些都要归功于他11年来的坚持不懈，11年来对一只股票的重金押注。</p><p>那就是<a href=\"https://laohu8.com/S/CAR\">安飞士</a>（Avis Budget Group）——一家全球性汽车租赁公司。</p><p><b>02一天爆赚50亿！</b></p><p>一只股就能赚几十亿？</p><p>能，只要买得够多，涨得够猛。</p><p>那先看看SRS买了多少安飞士。</p><p>从SRS截止2021年12月31日的第四季度持仓报告（13F）中可以看出，安飞士在SRS的投资组合中排名第一，持仓约1843.09万股，持仓市值约36.98亿，占投资组合比例高达44.41%。</p><p><img src=\"https://static.tigerbbs.com/448ee08768b5ce7faefaa1dc5d3075cf\" tg-width=\"894\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/></p><p>然后再去看看安飞士去年的股价。</p><p><img src=\"https://static.tigerbbs.com/cd9603b7b126a0e915bc7bc1073f064c\" tg-width=\"1080\" tg-height=\"515\" referrerpolicy=\"no-referrer\"/></p><p>整体看来就是“平平无奇”，除了11月2号那一天。</p><p>根据彭博社透露，当时先是安飞士Q3净利刷新历史新高引爆氛围，再是CEO表示将在“电动车普及方面发布重要作用”更是点燃爆炸引线，11月2日安飞士股价一度暴涨200%，带动SRS在短短数小时内爆赚53.5亿美元。</p><p><img src=\"https://static.tigerbbs.com/04bc51aecfc3cea05f54fb289f40eb30\" tg-width=\"946\" tg-height=\"286\" referrerpolicy=\"no-referrer\"/></p><p>算上11月2日这传奇一天，安飞士2021年总共涨了456%，SRS赚得盆满钵满，收益率达到35%。</p><p>而其中有一只基金满仓安飞士，由Sarma本人持有90%的份额。</p><p>或许会有人觉得和其他对冲基金相比，这点盈利不值一提。但是和动辄数百亿规模的基金相比，SRS的资金规模才80亿美元。</p><p><b>0311年终得回报，小人物也能逆袭</b></p><p>性格决定命运，这已经是一句老生常谈的话，但是却在Sarma身上得到了很好的印证。</p><p>我们只看到了2021年Sarma在<b>安飞士</b>上的大举获胜，却没有仔细想想他在<b>这只个股上花了足足11年的光阴，而前十年总共的收益率也才刚刚翻倍。</b></p><p><img src=\"https://static.tigerbbs.com/cb6aecc66b59834373ba7b4244e8a4d3\" tg-width=\"1024\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p>Sarma大获全胜，和他稳重的投资方式密不可分。</p><p>他风格稳健，不青睐高杠杆；</p><p>他风控严格，通常在投资组合中做多25只个股，做空35只个股，净敞口低于同行水平；</p><p>他信念坚定，认为只要满足要求，就不在意长期重仓单一个股；</p><p>他目光长远，长期押注安飞士，因为他认为“能以高性价比的方式来管理车队的公司，对于人类未来的交通发展极具价值。”</p><p>所以自2007年以来，Sarma旗下基金的年化收益率为12%，跑赢了标普500指数的11%。</p><p>他或许曾经在高手<a href=\"https://laohu8.com/S/YJ\">云集</a>的华尔街，是一个名不见经传的小人物，但是现在他用真金白银证明了自己，成功逆袭。</p></body></html>","source":"highlight_wallstreetcn","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>小人物逆袭：印度小伙11年押注1家公司，去年暴赚20亿美元</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n小人物逆袭：印度小伙11年押注1家公司，去年暴赚20亿美元\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-16 20:32 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3652071><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作者：朱雪莹在永不停歇的资本市场里，时刻都有人在演绎着自己的故事。只不过有的人上演亏损传奇，比如一举将高盛撂倒，创下“人类史上最大单日亏损”的Bill Hwang，但有的人则缔造狂赚传说，用“11年20亿”来证明自己坚持的意义。他就是Karthik Sarma。01“平平无奇”Karthik Sarma，一朝登顶在彭博社发布2021年度对冲基金经理收入排行榜之前，很少有人知道Karthik ...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3652071\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fd0f94887b15b0dd86bfcd8dfac01eec","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3652071","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1175916852","content_text":"作者：朱雪莹在永不停歇的资本市场里，时刻都有人在演绎着自己的故事。只不过有的人上演亏损传奇，比如一举将高盛撂倒，创下“人类史上最大单日亏损”的Bill Hwang，但有的人则缔造狂赚传说，用“11年20亿”来证明自己坚持的意义。他就是Karthik Sarma。01“平平无奇”Karthik Sarma，一朝登顶在彭博社发布2021年度对冲基金经理收入排行榜之前，很少有人知道Karthik Sarma，外界最多就是知道他之前在老虎环球工作过。然而当老虎环球的创始人Chase Coleman都被挤出排行榜，Sarma却一举闯进年度收入前三甲时，大家纷纷扒开他的简历从头看到尾，仔细程度就像是能看出他是怎么赚钱的一样。Karthik Sarma，印度人，在人生的前20多年都在认真践行一个优秀印度人会有的人生轨迹：学工程，去美国，做金融。Sarma1996年从印度理工学院毕业，之后去了美国普林斯顿大学攻读运筹学硕士。毕业之后先在麦肯锡工作了三年，随后在2001年加入了当时才成立不久的老虎环球，当时江湖传言他是老虎环球“最有天分”的员工。干了五年之后，Sarma自立门户，创立了SRS Investment Management，正式开启了自己在华尔街的精彩人生。或许是厌倦了上学期间“循规蹈矩”的生活，Sarma的行事作风和走精英路线的传统华尔街金融人士很不相同。你以为的华尔街基金经理都是这样：西装革履，眼神中满是思索。但Sarma看起来是这样：休闲衬衣，眼神中好像还略带懵懂。你以为他的办公室应该是这样：N个屏幕，即刻洞悉全球金融态势。但其实Sarma在疫情之后一直住在他姐姐家里，办公环境大概是这种：一台电脑，屏幕可能还没有你家的大。这确实很不“华尔街”。虽然看起来Sarma的生活没有很多金融人士那么精致，但是这并不妨碍他在赚钱方面一骑绝尘。2021年Sarma本人大赚20亿美元，个人净资产直接增加了两倍，而这些都要归功于他11年来的坚持不懈，11年来对一只股票的重金押注。那就是安飞士（Avis Budget Group）——一家全球性汽车租赁公司。02一天爆赚50亿！一只股就能赚几十亿？能，只要买得够多，涨得够猛。那先看看SRS买了多少安飞士。从SRS截止2021年12月31日的第四季度持仓报告（13F）中可以看出，安飞士在SRS的投资组合中排名第一，持仓约1843.09万股，持仓市值约36.98亿，占投资组合比例高达44.41%。然后再去看看安飞士去年的股价。整体看来就是“平平无奇”，除了11月2号那一天。根据彭博社透露，当时先是安飞士Q3净利刷新历史新高引爆氛围，再是CEO表示将在“电动车普及方面发布重要作用”更是点燃爆炸引线，11月2日安飞士股价一度暴涨200%，带动SRS在短短数小时内爆赚53.5亿美元。算上11月2日这传奇一天，安飞士2021年总共涨了456%，SRS赚得盆满钵满，收益率达到35%。而其中有一只基金满仓安飞士，由Sarma本人持有90%的份额。或许会有人觉得和其他对冲基金相比，这点盈利不值一提。但是和动辄数百亿规模的基金相比，SRS的资金规模才80亿美元。0311年终得回报，小人物也能逆袭性格决定命运，这已经是一句老生常谈的话，但是却在Sarma身上得到了很好的印证。我们只看到了2021年Sarma在安飞士上的大举获胜，却没有仔细想想他在这只个股上花了足足11年的光阴，而前十年总共的收益率也才刚刚翻倍。Sarma大获全胜，和他稳重的投资方式密不可分。他风格稳健，不青睐高杠杆；他风控严格，通常在投资组合中做多25只个股，做空35只个股，净敞口低于同行水平；他信念坚定，认为只要满足要求，就不在意长期重仓单一个股；他目光长远，长期押注安飞士，因为他认为“能以高性价比的方式来管理车队的公司，对于人类未来的交通发展极具价值。”所以自2007年以来，Sarma旗下基金的年化收益率为12%，跑赢了标普500指数的11%。他或许曾经在高手云集的华尔街，是一个名不见经传的小人物，但是现在他用真金白银证明了自己，成功逆袭。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695982317,"gmtCreate":1641299641156,"gmtModify":1641299641156,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为","listText":"如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为","text":"如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/695982317","repostId":"1141372672","repostType":2,"repost":{"id":"1141372672","weMediaInfo":{"introduction":"中国最具影响力的财经新闻媒体《财经》携手道琼斯媒体集团，引入百年历史的《巴伦》（Barron's）独家内容，打造涵盖全球金融信息、市场动态、行业分析、公司研究及理财顾问评估的全球投资平台。","home_visible":1,"media_name":"巴伦周刊","id":"1063202233","head_image":"https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab"},"pubTimestamp":1641207952,"share":"https://www.laohu8.com/m/news/1141372672?lang=&edition=full","pubTime":"2022-01-03 19:05","market":"us","language":"zh","title":"顶级策略师：美股凭什么10年复合增速是其他地方两倍","url":"https://stock-news.laohu8.com/highlight/detail?id=1141372672","media":"巴伦周刊","summary":"这些海外地区的科技公司有什么新颖的东西能与美国等量齐观吗？简短的回答是否定的。基于自己在华尔街30年的职业生涯，纽约人尼古拉斯·科拉斯(Nicholas Colas)一直在为基金经理撰写了一份广为阅读","content":"<html><head></head><body><blockquote>这些海外地区的科技公司有什么新颖的东西能与美国等量齐观吗？简短的回答是否定的。</blockquote><p>基于自己在华尔街30年的职业生涯，纽约人尼古拉斯·科拉斯(Nicholas Colas)一直在为基金经理撰写了一份广为阅读的早报，其中充满了从经济数据、市场动态、投资者心理和颠覆性趋势中提炼出的洞见。</p><p>作为DataTrek Research 联合创始人，科拉斯第一次得以接触华尔街是在现在的联博(Alliance Bernstein)的邮件收发室里，当时正值上世纪80年代中期共同基金行业起飞之际。1991年，科拉斯开始了他在华尔街的正式职业生涯，当时他是一名为瑞士信贷(Credit Suisse)负责汽车业务的股票分析师。</p><p>随后他在SAC资本工作，在那里他从对冲基金经理史蒂夫 · 科恩（Steve Cohen）那里学到了理解情绪在投资中的重要性。之后他在其他公司担任市场策略师和研究主管，直到2017年创立 DataTrek。多年来，科拉斯一直看好科技巨头和颠覆的力量，并从2013年开始撰写有关比特币的文章。</p><p>《巴伦周刊》与科拉斯讨论了为什么尽管存在通货膨胀、高估值和奥密克戎变异株的风险，他仍然青睐美国股票。在这个经过编辑的谈话版本中，我们也了解到为什么他认为对于投资者来说，学习金融建模和监控加密货币的发展是至关重要的。</p><p><img src=\"https://static.tigerbbs.com/9091fd422599e2aceecc5cc92da55499\" tg-width=\"1050\" tg-height=\"701\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>《巴伦周刊》：疫情引发与投资者最相关的最大转变是什么？</b></p><p><b>尼古拉斯·科拉斯：</b>通货膨胀。这是经济中最大的变化。商品的价格更高ーー而且不是一点点，而是要高得多，还上涨超过两年。食品价格上涨了15% ，工资却没有。作为一个投资者，我们必须考虑通货膨胀将如何起伏，如何影响公司的盈利能力。对于大公司来说，这有利于盈利。</p><p><b>《巴伦周刊》：关于通货膨胀对公司收益影响的担忧是不是不合时宜的？</b></p><p><b>尼古拉斯·科拉斯：</b>现在很少有分析师知道如何为一家公司建模。我是由那些在20世纪70年代开始从业的人训练出来。归根结底就是理解成本在损益表中如何流动。</p><p>人们认为，如果生产者价格指数(PPI)上升4% ，通胀率上升4% ，公司盈利就保持不变，这是绝对错误的。每个公司都有一个不会随着通货膨胀而变化的固定成本结构。我们可以从数据中看到这一点：上世纪70年代，企业利润的增长速度与通胀率一样快，股市的增长速度与盈利一样快。</p><p>这个市场的关键是——而且一直是——公司盈利。标普500指数成份股公司2022年的平均每股收益达到240美元是完全合理的，而华尔街目前预期的收益是222美元。现在回头看，在疫情爆发前几年我们的收益在162美元到163美元之间。我们为公司盈利设定了一个新的阶跃函数ーー而且似乎是永久性的。</p><p><b>《巴伦周刊》：即使正在应对不断上升的劳动力成本、供应链问题和监管压力，企业利润率为什么还能保持在高位？</b></p><p><b>尼古拉斯·科拉斯：</b>定价权。标普500指数与地球上其他任何指数都有很大的不同。它有两个优点：首先，它根植于美国经济，而美国的财政和货币政策比欧洲和亚洲积极了几个量级。所以这是一个巨大的优势，并且让企业利润率在经济衰退期间不会降到零。</p><p>我们谈论的是美国的巨头公司，它们在规模和范围经济方面相比小公司具有巨大优势，而且，由于它们在美国业务产生的现金流，在海外拥有更强的竞争地位。我们拥有的最重要的东西就是科技巨头。谷歌（GOOGL）、苹果（AAPL）和微软（MSFT）这些公司在标普500指数中占有20% 权重的重要性再怎么强调都不为过。其他任何东西都无法与这些商业模式相比。</p><p><b>《巴伦周刊》：这些公司多年以来一直都是赢家，这种情况真的能继续下去吗？</b></p><p><b>尼古拉斯·科拉斯：</b>人们对动量有偏见，对于动量投资的投资有效性也有偏见。我说的不是把动量作为一个因子，而是从根本上来说那些能够保持和提高它们竞争地位的东西。</p><p>我不认为科技公司的利润率会回归平均水平，因为这些公司拥有我们以前从未见过的竞争地位，除了以前的洛克菲勒的石油公司和范德比尔特拥有的铁路公司之外。石油行业已经存在了60年，所以当他们说数据是新的石油时，这表明数据比传统的商业模式有着更长的竞争窗口期。</p><p><b>《巴伦周刊》：投资者是否应该趁下跌逢低买进这些股票？</b></p><p><b>尼古拉斯·科拉斯：</b>这是另一个关于投资者对全球经济复苏有多大信心的讨论。或许在第二季度，你会对全球同步复苏充满热情ーー你可能会看到大型科技公司在未来几个季度表现不佳，因为人们会对金融、工业、甚至能源充满热情。</p><p>但这不是“如果苹果股价下跌5%就逢低买入”的问题，而是(他们的)企业利润超级有粘性，超级稳定，而且他们高估值下盈利。如果你真的想拥有最大、最好和最聪明的公司，那么这个世界上应该选择的就是标普500指数。</p><p><b>《巴伦周刊》：海外市场的表现已经落后于美国好几年了，投资者是否应该把资金转移到海外？</b></p><p><b>尼古拉斯·科拉斯：</b>人们总是忍不住考虑均值回归。然而，我们真的认为一个人口零增长的经济体（比如日本）能够真正实现估值的可持续反弹吗？我们真的认为一个负利率的地区（比如欧洲）能够持续反弹吗？除了阿斯麦控股（ASML Holding，ASML）或 思爱普（SAP）之外，这些海外地区的科技公司有什么新颖的东西能与美国等量齐观吗？简短的回答是否定的。</p><p><b>《巴伦周刊》：那么中国呢？</b></p><p><b>尼古拉斯·科拉斯：</b>中国将会有一个巨大的交易性机会，很可能会在(2022年秋天)二十大之后。但是在短期内有太多不确定性。</p><p><b>《巴伦周刊》：你最密切关注跟中国相关的事态发展是什么？</b></p><p><b>尼古拉斯·科拉斯：</b>我最关心的是中国将如何支持或者抑制技术创新，因为这是唯一能让你作为投资者赚大钱的东西。如果你想打败市场，你需要找到创新的拐点。</p><p>中国政府在对科技公司加强监管，因为科技和新冠疫情造成了如此巨大的不平衡。中国的市场规模是这里的4倍，如果这意味着大约30家贪婪的科技公司在啃食社会架构，那么(北京)做的是正确的事情。但如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为。</p><p><b>《巴伦周刊》：新冠疫情已经带来了一些行为上的重大变化。你正在密切关注哪些可能影响投资者的事情？</b></p><p><b>尼古拉斯·科拉斯：</b>我们每天都在使用 Google Trends，因为它是了解消费者行为的快速窗口。从股票市场的角度来看，我们关心的第一件事是，消费者对新冠疫情的关注在他们日常生活的恐慌情绪中占多大分量。</p><p>美国已经经历了三个不同的周期。奥密克戎变异株正在引起一些关注，但它还没有超出规模。我在上周一发的早间晨报中，用谷歌搜索了英国的疫情，搜索结果达到了新高。因此，如果我们在美国得到同样的病毒传播，将会是一个令人担忧的问题。</p><p>在当前周期的这个点上，债券(主要是美国国债)有一个作用。不是提供收益，而是一种对冲，如果我们错了，或者遇到什么不好的事情，你还可以继续投资。</p><p><b>《巴伦周刊》：在接下来的一年里，你最担心的风险是什么？</b></p><p><b>尼古拉斯·科拉斯：</b>拐点，就像我们面对通货膨胀和经济一样，美联储总是有可能出现政策失误。我们使用芝加哥商品交易所联邦储备银行观察工具(CME FedWatch Tool)来观察明年美联储政策的可能性。</p><p>当市场推演出明年四次加息时，我会开始担心。回到1994年，那是我看到的第一个利率周期，市场滚动得如此之快，因为美联储总体上出人意料地移动了50个基点(0.5%) ，然后不断提高利率，导致了大规模的反转。出现收益率曲线反转是预示未来经济衰退的警号信号的第二阶段。</p><p><b>《巴伦周刊》：来年的总回报率有多重要？</b></p><p><b>尼古拉斯·科拉斯：</b>股票回购比股息更为重要，因为当前股市的市盈率为21倍，远远超过了周期的底部，这意味着企业的现金配置将非常有效。公司不会把钱浪费在愚蠢的收购、糟糕的项目或者毫无意义的全球增长上，而是会高度关注资本回报最大化。</p><p>对于首席财务官来说，随着现金流逐步累积，回购股票是向董事会提议的最安全选择ーー标普500指数成份股公司的增量现金流比以往任何时候都多。</p><p><b>《巴伦周刊》：能源转型正在受到大量关注。投资者能得到什么？</b></p><p><b>尼古拉斯·科拉斯：</b>你必须关注，因为这是技术创新，而这正是推动可持续长期回报的因素。在期限为一年或更短期内，交易性机会来自传统碳基能源，因为全球需求将继续增长，不可能被迅速替代。我们已经在40% 的办公室占用率下接近2019年的水平。</p><p><b>《巴伦周刊》：投资机会是什么？</b></p><p><b>尼古拉斯·科拉斯：</b>（对于现有的替代性能源公司）估值没有多大意义，不是因为市场愚蠢，而是因为它们还不够多。当出现一个新的热门趋势时，少数股票会获得估值溢价。风险投资公司会计算出来，然后为更好的公司提供资金。等它们上市后，估值会变得更好，并且正常化。随着新公司上市，你需要审视每一家公司，因为在替代能源领域将会有许多赢家，但并非所有上市公司都是如此。</p><p><b>《巴伦周刊》：着眼于环境、社会和治理因素，或者说 ESG 投资也是一个大趋势，这是可持续的吗？</b></p><p><b>尼古拉斯·科拉斯：</b>在未来十年，ESG 的重要性只会越来越大。增长将介于算术和对数之间，人们希望通过这种方式进行投资，并且觉得他们赚的钱不仅仅是为了赚钱。在我30年的职业生涯中，这是一个巨大的转变; 我是从20世纪80年代那个“贪婪即是好”的华尔街开始起步的，当时华尔街把资本配置视为终极目标。</p><p><b>《巴伦周刊》：关于 ESG 的定义还存在一些混乱，如何解决这个问题？</b></p><p><b>尼古拉斯·科拉斯：</b>正如人们现在所表达的那样，ESG 必须是可量化的、以规则为基础的。我们要讨论的是，有多少信息披露是准确和有效的ーー以及这些模型对此做了什么。现在对ESG审计的关注程度将与上世纪70年代和90年代对财务审计的关注程度相当。我们正处于将会计学科纳入环境、社会和治理优先事项集的早期阶段。</p><p><b>《巴伦周刊》：哪些领域或问题没有得到足够的重视？</b></p><p><b>尼古拉斯·科拉斯：</b>风险投资、数字货币和去中心化金融的世界。我们在每份报告中都提到了颠覆性创新，这就是为什么美国股市表现优于世界其它地区的原因。正是由于1999年和2000年的风险投资，我们才有了亚马逊网站，以及为什么苹果还活着，为什么标普500指数10年复合年增长率为16% ，是世界其他地区两倍的原因。</p><p><b>《巴伦周刊》：加密技术的前景如何？</b></p><p><b>尼古拉斯·科拉斯：</b>还需要几年的时间。美联储的想法如何发展至关重要。风险是在实际中使用的美联储货币变成美元货币，因为（稳定币）并不是一个受到严格监管的市场。我不得不反驳那些说加密只是一种时尚的客户。不，不是的。</p><p>此外，即使你不喜欢这个想法——即使这只是一种时尚——但磁带还是推翻了伊朗的君主制度！（编者注：1970 年代，伊朗流亡领袖霍梅尼演讲的磁带和印刷品被偷运回伊朗，为伊朗革命播下了种子。）它对全球地缘政治产生了巨大的影响，你不能忽视（密码学）。今年加密领域的重要故事是不在于资产本身资产本身，而是我们将开始看到在支付和去中心化金融中的主流使用案例。</p><p><b>《巴伦周刊》：谢谢你，尼古拉斯。</b></p></body></html>","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\" 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n顶级策略师：美股凭什么10年复合增速是其他地方两倍\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1063202233\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">巴伦周刊 </p>\n<p class=\"h-time\">2022-01-03 19:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote>这些海外地区的科技公司有什么新颖的东西能与美国等量齐观吗？简短的回答是否定的。</blockquote><p>基于自己在华尔街30年的职业生涯，纽约人尼古拉斯·科拉斯(Nicholas Colas)一直在为基金经理撰写了一份广为阅读的早报，其中充满了从经济数据、市场动态、投资者心理和颠覆性趋势中提炼出的洞见。</p><p>作为DataTrek Research 联合创始人，科拉斯第一次得以接触华尔街是在现在的联博(Alliance Bernstein)的邮件收发室里，当时正值上世纪80年代中期共同基金行业起飞之际。1991年，科拉斯开始了他在华尔街的正式职业生涯，当时他是一名为瑞士信贷(Credit Suisse)负责汽车业务的股票分析师。</p><p>随后他在SAC资本工作，在那里他从对冲基金经理史蒂夫 · 科恩（Steve Cohen）那里学到了理解情绪在投资中的重要性。之后他在其他公司担任市场策略师和研究主管，直到2017年创立 DataTrek。多年来，科拉斯一直看好科技巨头和颠覆的力量，并从2013年开始撰写有关比特币的文章。</p><p>《巴伦周刊》与科拉斯讨论了为什么尽管存在通货膨胀、高估值和奥密克戎变异株的风险，他仍然青睐美国股票。在这个经过编辑的谈话版本中，我们也了解到为什么他认为对于投资者来说，学习金融建模和监控加密货币的发展是至关重要的。</p><p><img src=\"https://static.tigerbbs.com/9091fd422599e2aceecc5cc92da55499\" tg-width=\"1050\" tg-height=\"701\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>《巴伦周刊》：疫情引发与投资者最相关的最大转变是什么？</b></p><p><b>尼古拉斯·科拉斯：</b>通货膨胀。这是经济中最大的变化。商品的价格更高ーー而且不是一点点，而是要高得多，还上涨超过两年。食品价格上涨了15% ，工资却没有。作为一个投资者，我们必须考虑通货膨胀将如何起伏，如何影响公司的盈利能力。对于大公司来说，这有利于盈利。</p><p><b>《巴伦周刊》：关于通货膨胀对公司收益影响的担忧是不是不合时宜的？</b></p><p><b>尼古拉斯·科拉斯：</b>现在很少有分析师知道如何为一家公司建模。我是由那些在20世纪70年代开始从业的人训练出来。归根结底就是理解成本在损益表中如何流动。</p><p>人们认为，如果生产者价格指数(PPI)上升4% ，通胀率上升4% ，公司盈利就保持不变，这是绝对错误的。每个公司都有一个不会随着通货膨胀而变化的固定成本结构。我们可以从数据中看到这一点：上世纪70年代，企业利润的增长速度与通胀率一样快，股市的增长速度与盈利一样快。</p><p>这个市场的关键是——而且一直是——公司盈利。标普500指数成份股公司2022年的平均每股收益达到240美元是完全合理的，而华尔街目前预期的收益是222美元。现在回头看，在疫情爆发前几年我们的收益在162美元到163美元之间。我们为公司盈利设定了一个新的阶跃函数ーー而且似乎是永久性的。</p><p><b>《巴伦周刊》：即使正在应对不断上升的劳动力成本、供应链问题和监管压力，企业利润率为什么还能保持在高位？</b></p><p><b>尼古拉斯·科拉斯：</b>定价权。标普500指数与地球上其他任何指数都有很大的不同。它有两个优点：首先，它根植于美国经济，而美国的财政和货币政策比欧洲和亚洲积极了几个量级。所以这是一个巨大的优势，并且让企业利润率在经济衰退期间不会降到零。</p><p>我们谈论的是美国的巨头公司，它们在规模和范围经济方面相比小公司具有巨大优势，而且，由于它们在美国业务产生的现金流，在海外拥有更强的竞争地位。我们拥有的最重要的东西就是科技巨头。谷歌（GOOGL）、苹果（AAPL）和微软（MSFT）这些公司在标普500指数中占有20% 权重的重要性再怎么强调都不为过。其他任何东西都无法与这些商业模式相比。</p><p><b>《巴伦周刊》：这些公司多年以来一直都是赢家，这种情况真的能继续下去吗？</b></p><p><b>尼古拉斯·科拉斯：</b>人们对动量有偏见，对于动量投资的投资有效性也有偏见。我说的不是把动量作为一个因子，而是从根本上来说那些能够保持和提高它们竞争地位的东西。</p><p>我不认为科技公司的利润率会回归平均水平，因为这些公司拥有我们以前从未见过的竞争地位，除了以前的洛克菲勒的石油公司和范德比尔特拥有的铁路公司之外。石油行业已经存在了60年，所以当他们说数据是新的石油时，这表明数据比传统的商业模式有着更长的竞争窗口期。</p><p><b>《巴伦周刊》：投资者是否应该趁下跌逢低买进这些股票？</b></p><p><b>尼古拉斯·科拉斯：</b>这是另一个关于投资者对全球经济复苏有多大信心的讨论。或许在第二季度，你会对全球同步复苏充满热情ーー你可能会看到大型科技公司在未来几个季度表现不佳，因为人们会对金融、工业、甚至能源充满热情。</p><p>但这不是“如果苹果股价下跌5%就逢低买入”的问题，而是(他们的)企业利润超级有粘性，超级稳定，而且他们高估值下盈利。如果你真的想拥有最大、最好和最聪明的公司，那么这个世界上应该选择的就是标普500指数。</p><p><b>《巴伦周刊》：海外市场的表现已经落后于美国好几年了，投资者是否应该把资金转移到海外？</b></p><p><b>尼古拉斯·科拉斯：</b>人们总是忍不住考虑均值回归。然而，我们真的认为一个人口零增长的经济体（比如日本）能够真正实现估值的可持续反弹吗？我们真的认为一个负利率的地区（比如欧洲）能够持续反弹吗？除了阿斯麦控股（ASML Holding，ASML）或 思爱普（SAP）之外，这些海外地区的科技公司有什么新颖的东西能与美国等量齐观吗？简短的回答是否定的。</p><p><b>《巴伦周刊》：那么中国呢？</b></p><p><b>尼古拉斯·科拉斯：</b>中国将会有一个巨大的交易性机会，很可能会在(2022年秋天)二十大之后。但是在短期内有太多不确定性。</p><p><b>《巴伦周刊》：你最密切关注跟中国相关的事态发展是什么？</b></p><p><b>尼古拉斯·科拉斯：</b>我最关心的是中国将如何支持或者抑制技术创新，因为这是唯一能让你作为投资者赚大钱的东西。如果你想打败市场，你需要找到创新的拐点。</p><p>中国政府在对科技公司加强监管，因为科技和新冠疫情造成了如此巨大的不平衡。中国的市场规模是这里的4倍，如果这意味着大约30家贪婪的科技公司在啃食社会架构，那么(北京)做的是正确的事情。但如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为。</p><p><b>《巴伦周刊》：新冠疫情已经带来了一些行为上的重大变化。你正在密切关注哪些可能影响投资者的事情？</b></p><p><b>尼古拉斯·科拉斯：</b>我们每天都在使用 Google Trends，因为它是了解消费者行为的快速窗口。从股票市场的角度来看，我们关心的第一件事是，消费者对新冠疫情的关注在他们日常生活的恐慌情绪中占多大分量。</p><p>美国已经经历了三个不同的周期。奥密克戎变异株正在引起一些关注，但它还没有超出规模。我在上周一发的早间晨报中，用谷歌搜索了英国的疫情，搜索结果达到了新高。因此，如果我们在美国得到同样的病毒传播，将会是一个令人担忧的问题。</p><p>在当前周期的这个点上，债券(主要是美国国债)有一个作用。不是提供收益，而是一种对冲，如果我们错了，或者遇到什么不好的事情，你还可以继续投资。</p><p><b>《巴伦周刊》：在接下来的一年里，你最担心的风险是什么？</b></p><p><b>尼古拉斯·科拉斯：</b>拐点，就像我们面对通货膨胀和经济一样，美联储总是有可能出现政策失误。我们使用芝加哥商品交易所联邦储备银行观察工具(CME FedWatch Tool)来观察明年美联储政策的可能性。</p><p>当市场推演出明年四次加息时，我会开始担心。回到1994年，那是我看到的第一个利率周期，市场滚动得如此之快，因为美联储总体上出人意料地移动了50个基点(0.5%) ，然后不断提高利率，导致了大规模的反转。出现收益率曲线反转是预示未来经济衰退的警号信号的第二阶段。</p><p><b>《巴伦周刊》：来年的总回报率有多重要？</b></p><p><b>尼古拉斯·科拉斯：</b>股票回购比股息更为重要，因为当前股市的市盈率为21倍，远远超过了周期的底部，这意味着企业的现金配置将非常有效。公司不会把钱浪费在愚蠢的收购、糟糕的项目或者毫无意义的全球增长上，而是会高度关注资本回报最大化。</p><p>对于首席财务官来说，随着现金流逐步累积，回购股票是向董事会提议的最安全选择ーー标普500指数成份股公司的增量现金流比以往任何时候都多。</p><p><b>《巴伦周刊》：能源转型正在受到大量关注。投资者能得到什么？</b></p><p><b>尼古拉斯·科拉斯：</b>你必须关注，因为这是技术创新，而这正是推动可持续长期回报的因素。在期限为一年或更短期内，交易性机会来自传统碳基能源，因为全球需求将继续增长，不可能被迅速替代。我们已经在40% 的办公室占用率下接近2019年的水平。</p><p><b>《巴伦周刊》：投资机会是什么？</b></p><p><b>尼古拉斯·科拉斯：</b>（对于现有的替代性能源公司）估值没有多大意义，不是因为市场愚蠢，而是因为它们还不够多。当出现一个新的热门趋势时，少数股票会获得估值溢价。风险投资公司会计算出来，然后为更好的公司提供资金。等它们上市后，估值会变得更好，并且正常化。随着新公司上市，你需要审视每一家公司，因为在替代能源领域将会有许多赢家，但并非所有上市公司都是如此。</p><p><b>《巴伦周刊》：着眼于环境、社会和治理因素，或者说 ESG 投资也是一个大趋势，这是可持续的吗？</b></p><p><b>尼古拉斯·科拉斯：</b>在未来十年，ESG 的重要性只会越来越大。增长将介于算术和对数之间，人们希望通过这种方式进行投资，并且觉得他们赚的钱不仅仅是为了赚钱。在我30年的职业生涯中，这是一个巨大的转变; 我是从20世纪80年代那个“贪婪即是好”的华尔街开始起步的，当时华尔街把资本配置视为终极目标。</p><p><b>《巴伦周刊》：关于 ESG 的定义还存在一些混乱，如何解决这个问题？</b></p><p><b>尼古拉斯·科拉斯：</b>正如人们现在所表达的那样，ESG 必须是可量化的、以规则为基础的。我们要讨论的是，有多少信息披露是准确和有效的ーー以及这些模型对此做了什么。现在对ESG审计的关注程度将与上世纪70年代和90年代对财务审计的关注程度相当。我们正处于将会计学科纳入环境、社会和治理优先事项集的早期阶段。</p><p><b>《巴伦周刊》：哪些领域或问题没有得到足够的重视？</b></p><p><b>尼古拉斯·科拉斯：</b>风险投资、数字货币和去中心化金融的世界。我们在每份报告中都提到了颠覆性创新，这就是为什么美国股市表现优于世界其它地区的原因。正是由于1999年和2000年的风险投资，我们才有了亚马逊网站，以及为什么苹果还活着，为什么标普500指数10年复合年增长率为16% ，是世界其他地区两倍的原因。</p><p><b>《巴伦周刊》：加密技术的前景如何？</b></p><p><b>尼古拉斯·科拉斯：</b>还需要几年的时间。美联储的想法如何发展至关重要。风险是在实际中使用的美联储货币变成美元货币，因为（稳定币）并不是一个受到严格监管的市场。我不得不反驳那些说加密只是一种时尚的客户。不，不是的。</p><p>此外，即使你不喜欢这个想法——即使这只是一种时尚——但磁带还是推翻了伊朗的君主制度！（编者注：1970 年代，伊朗流亡领袖霍梅尼演讲的磁带和印刷品被偷运回伊朗，为伊朗革命播下了种子。）它对全球地缘政治产生了巨大的影响，你不能忽视（密码学）。今年加密领域的重要故事是不在于资产本身资产本身，而是我们将开始看到在支付和去中心化金融中的主流使用案例。</p><p><b>《巴伦周刊》：谢谢你，尼古拉斯。</b></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9091fd422599e2aceecc5cc92da55499","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141372672","content_text":"这些海外地区的科技公司有什么新颖的东西能与美国等量齐观吗？简短的回答是否定的。基于自己在华尔街30年的职业生涯，纽约人尼古拉斯·科拉斯(Nicholas Colas)一直在为基金经理撰写了一份广为阅读的早报，其中充满了从经济数据、市场动态、投资者心理和颠覆性趋势中提炼出的洞见。作为DataTrek Research 联合创始人，科拉斯第一次得以接触华尔街是在现在的联博(Alliance Bernstein)的邮件收发室里，当时正值上世纪80年代中期共同基金行业起飞之际。1991年，科拉斯开始了他在华尔街的正式职业生涯，当时他是一名为瑞士信贷(Credit Suisse)负责汽车业务的股票分析师。随后他在SAC资本工作，在那里他从对冲基金经理史蒂夫 · 科恩（Steve Cohen）那里学到了理解情绪在投资中的重要性。之后他在其他公司担任市场策略师和研究主管，直到2017年创立 DataTrek。多年来，科拉斯一直看好科技巨头和颠覆的力量，并从2013年开始撰写有关比特币的文章。《巴伦周刊》与科拉斯讨论了为什么尽管存在通货膨胀、高估值和奥密克戎变异株的风险，他仍然青睐美国股票。在这个经过编辑的谈话版本中，我们也了解到为什么他认为对于投资者来说，学习金融建模和监控加密货币的发展是至关重要的。《巴伦周刊》：疫情引发与投资者最相关的最大转变是什么？尼古拉斯·科拉斯：通货膨胀。这是经济中最大的变化。商品的价格更高ーー而且不是一点点，而是要高得多，还上涨超过两年。食品价格上涨了15% ，工资却没有。作为一个投资者，我们必须考虑通货膨胀将如何起伏，如何影响公司的盈利能力。对于大公司来说，这有利于盈利。《巴伦周刊》：关于通货膨胀对公司收益影响的担忧是不是不合时宜的？尼古拉斯·科拉斯：现在很少有分析师知道如何为一家公司建模。我是由那些在20世纪70年代开始从业的人训练出来。归根结底就是理解成本在损益表中如何流动。人们认为，如果生产者价格指数(PPI)上升4% ，通胀率上升4% ，公司盈利就保持不变，这是绝对错误的。每个公司都有一个不会随着通货膨胀而变化的固定成本结构。我们可以从数据中看到这一点：上世纪70年代，企业利润的增长速度与通胀率一样快，股市的增长速度与盈利一样快。这个市场的关键是——而且一直是——公司盈利。标普500指数成份股公司2022年的平均每股收益达到240美元是完全合理的，而华尔街目前预期的收益是222美元。现在回头看，在疫情爆发前几年我们的收益在162美元到163美元之间。我们为公司盈利设定了一个新的阶跃函数ーー而且似乎是永久性的。《巴伦周刊》：即使正在应对不断上升的劳动力成本、供应链问题和监管压力，企业利润率为什么还能保持在高位？尼古拉斯·科拉斯：定价权。标普500指数与地球上其他任何指数都有很大的不同。它有两个优点：首先，它根植于美国经济，而美国的财政和货币政策比欧洲和亚洲积极了几个量级。所以这是一个巨大的优势，并且让企业利润率在经济衰退期间不会降到零。我们谈论的是美国的巨头公司，它们在规模和范围经济方面相比小公司具有巨大优势，而且，由于它们在美国业务产生的现金流，在海外拥有更强的竞争地位。我们拥有的最重要的东西就是科技巨头。谷歌（GOOGL）、苹果（AAPL）和微软（MSFT）这些公司在标普500指数中占有20% 权重的重要性再怎么强调都不为过。其他任何东西都无法与这些商业模式相比。《巴伦周刊》：这些公司多年以来一直都是赢家，这种情况真的能继续下去吗？尼古拉斯·科拉斯：人们对动量有偏见，对于动量投资的投资有效性也有偏见。我说的不是把动量作为一个因子，而是从根本上来说那些能够保持和提高它们竞争地位的东西。我不认为科技公司的利润率会回归平均水平，因为这些公司拥有我们以前从未见过的竞争地位，除了以前的洛克菲勒的石油公司和范德比尔特拥有的铁路公司之外。石油行业已经存在了60年，所以当他们说数据是新的石油时，这表明数据比传统的商业模式有着更长的竞争窗口期。《巴伦周刊》：投资者是否应该趁下跌逢低买进这些股票？尼古拉斯·科拉斯：这是另一个关于投资者对全球经济复苏有多大信心的讨论。或许在第二季度，你会对全球同步复苏充满热情ーー你可能会看到大型科技公司在未来几个季度表现不佳，因为人们会对金融、工业、甚至能源充满热情。但这不是“如果苹果股价下跌5%就逢低买入”的问题，而是(他们的)企业利润超级有粘性，超级稳定，而且他们高估值下盈利。如果你真的想拥有最大、最好和最聪明的公司，那么这个世界上应该选择的就是标普500指数。《巴伦周刊》：海外市场的表现已经落后于美国好几年了，投资者是否应该把资金转移到海外？尼古拉斯·科拉斯：人们总是忍不住考虑均值回归。然而，我们真的认为一个人口零增长的经济体（比如日本）能够真正实现估值的可持续反弹吗？我们真的认为一个负利率的地区（比如欧洲）能够持续反弹吗？除了阿斯麦控股（ASML Holding，ASML）或 思爱普（SAP）之外，这些海外地区的科技公司有什么新颖的东西能与美国等量齐观吗？简短的回答是否定的。《巴伦周刊》：那么中国呢？尼古拉斯·科拉斯：中国将会有一个巨大的交易性机会，很可能会在(2022年秋天)二十大之后。但是在短期内有太多不确定性。《巴伦周刊》：你最密切关注跟中国相关的事态发展是什么？尼古拉斯·科拉斯：我最关心的是中国将如何支持或者抑制技术创新，因为这是唯一能让你作为投资者赚大钱的东西。如果你想打败市场，你需要找到创新的拐点。中国政府在对科技公司加强监管，因为科技和新冠疫情造成了如此巨大的不平衡。中国的市场规模是这里的4倍，如果这意味着大约30家贪婪的科技公司在啃食社会架构，那么(北京)做的是正确的事情。但如果这对创新产生寒蝉效应，那么中国股票市场十年内都难有作为。《巴伦周刊》：新冠疫情已经带来了一些行为上的重大变化。你正在密切关注哪些可能影响投资者的事情？尼古拉斯·科拉斯：我们每天都在使用 Google Trends，因为它是了解消费者行为的快速窗口。从股票市场的角度来看，我们关心的第一件事是，消费者对新冠疫情的关注在他们日常生活的恐慌情绪中占多大分量。美国已经经历了三个不同的周期。奥密克戎变异株正在引起一些关注，但它还没有超出规模。我在上周一发的早间晨报中，用谷歌搜索了英国的疫情，搜索结果达到了新高。因此，如果我们在美国得到同样的病毒传播，将会是一个令人担忧的问题。在当前周期的这个点上，债券(主要是美国国债)有一个作用。不是提供收益，而是一种对冲，如果我们错了，或者遇到什么不好的事情，你还可以继续投资。《巴伦周刊》：在接下来的一年里，你最担心的风险是什么？尼古拉斯·科拉斯：拐点，就像我们面对通货膨胀和经济一样，美联储总是有可能出现政策失误。我们使用芝加哥商品交易所联邦储备银行观察工具(CME FedWatch Tool)来观察明年美联储政策的可能性。当市场推演出明年四次加息时，我会开始担心。回到1994年，那是我看到的第一个利率周期，市场滚动得如此之快，因为美联储总体上出人意料地移动了50个基点(0.5%) ，然后不断提高利率，导致了大规模的反转。出现收益率曲线反转是预示未来经济衰退的警号信号的第二阶段。《巴伦周刊》：来年的总回报率有多重要？尼古拉斯·科拉斯：股票回购比股息更为重要，因为当前股市的市盈率为21倍，远远超过了周期的底部，这意味着企业的现金配置将非常有效。公司不会把钱浪费在愚蠢的收购、糟糕的项目或者毫无意义的全球增长上，而是会高度关注资本回报最大化。对于首席财务官来说，随着现金流逐步累积，回购股票是向董事会提议的最安全选择ーー标普500指数成份股公司的增量现金流比以往任何时候都多。《巴伦周刊》：能源转型正在受到大量关注。投资者能得到什么？尼古拉斯·科拉斯：你必须关注，因为这是技术创新，而这正是推动可持续长期回报的因素。在期限为一年或更短期内，交易性机会来自传统碳基能源，因为全球需求将继续增长，不可能被迅速替代。我们已经在40% 的办公室占用率下接近2019年的水平。《巴伦周刊》：投资机会是什么？尼古拉斯·科拉斯：（对于现有的替代性能源公司）估值没有多大意义，不是因为市场愚蠢，而是因为它们还不够多。当出现一个新的热门趋势时，少数股票会获得估值溢价。风险投资公司会计算出来，然后为更好的公司提供资金。等它们上市后，估值会变得更好，并且正常化。随着新公司上市，你需要审视每一家公司，因为在替代能源领域将会有许多赢家，但并非所有上市公司都是如此。《巴伦周刊》：着眼于环境、社会和治理因素，或者说 ESG 投资也是一个大趋势，这是可持续的吗？尼古拉斯·科拉斯：在未来十年，ESG 的重要性只会越来越大。增长将介于算术和对数之间，人们希望通过这种方式进行投资，并且觉得他们赚的钱不仅仅是为了赚钱。在我30年的职业生涯中，这是一个巨大的转变; 我是从20世纪80年代那个“贪婪即是好”的华尔街开始起步的，当时华尔街把资本配置视为终极目标。《巴伦周刊》：关于 ESG 的定义还存在一些混乱，如何解决这个问题？尼古拉斯·科拉斯：正如人们现在所表达的那样，ESG 必须是可量化的、以规则为基础的。我们要讨论的是，有多少信息披露是准确和有效的ーー以及这些模型对此做了什么。现在对ESG审计的关注程度将与上世纪70年代和90年代对财务审计的关注程度相当。我们正处于将会计学科纳入环境、社会和治理优先事项集的早期阶段。《巴伦周刊》：哪些领域或问题没有得到足够的重视？尼古拉斯·科拉斯：风险投资、数字货币和去中心化金融的世界。我们在每份报告中都提到了颠覆性创新，这就是为什么美国股市表现优于世界其它地区的原因。正是由于1999年和2000年的风险投资，我们才有了亚马逊网站，以及为什么苹果还活着，为什么标普500指数10年复合年增长率为16% ，是世界其他地区两倍的原因。《巴伦周刊》：加密技术的前景如何？尼古拉斯·科拉斯：还需要几年的时间。美联储的想法如何发展至关重要。风险是在实际中使用的美联储货币变成美元货币，因为（稳定币）并不是一个受到严格监管的市场。我不得不反驳那些说加密只是一种时尚的客户。不，不是的。此外，即使你不喜欢这个想法——即使这只是一种时尚——但磁带还是推翻了伊朗的君主制度！（编者注：1970 年代，伊朗流亡领袖霍梅尼演讲的磁带和印刷品被偷运回伊朗，为伊朗革命播下了种子。）它对全球地缘政治产生了巨大的影响，你不能忽视（密码学）。今年加密领域的重要故事是不在于资产本身资产本身，而是我们将开始看到在支付和去中心化金融中的主流使用案例。《巴伦周刊》：谢谢你，尼古拉斯。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696392098,"gmtCreate":1640615394220,"gmtModify":1640615394220,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"Nike大中华区营收降低20%还跳涨10%，实在令人费解","listText":"Nike大中华区营收降低20%还跳涨10%，实在令人费解","text":"Nike大中华区营收降低20%还跳涨10%，实在令人费解","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696392098","repostId":"1179406011","repostType":4,"isVote":1,"tweetType":1,"viewCount":1507,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691096159,"gmtCreate":1640095218276,"gmtModify":1640095218276,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"nio到底是供应链问题还是model Y蚕食了市场","listText":"nio到底是供应链问题还是model Y蚕食了市场","text":"nio到底是供应链问题还是model Y蚕食了市场","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691096159","repostId":"2193156023","repostType":2,"repost":{"id":"2193156023","pubTimestamp":1640092980,"share":"https://www.laohu8.com/m/news/2193156023?lang=&edition=full","pubTime":"2021-12-21 21:23","market":"us","language":"en","title":"5 Beaten-Down Growth Stocks That Can Soar in 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=2193156023","media":"Motley Fool","summary":"These high-flying stocks have all the tools necessary to regain their luster over the next year.","content":"<p>When the page turns on 2021 in just 10 days, it'll almost certainly go down as another successful year for the broad-market indexes. Through this past weekend, the benchmark <b>S&amp;P 500</b> had gained 23% year to date, which is well above its historic average annual return.</p>\n<p>But it's been a bit of a mixed year for growth stocks. While the FAANG stocks have held up well, quite a few of the high-growth innovators that thrived during the pandemic were pummeled this year. If you're looking for high-quality, beaten-down growth stocks to invest in, the following five could soar in 2022.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Fanalyzing-stock-market-growth-chart-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"464\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Nio</h2>\n<p>Once an electric vehicle (EV) darling on Wall Street, China-based EV manufacturer <b>Nio</b> (NYSE:NIO) lost its charge this year. Through Dec. 19, shares of the company were lower by 38%.</p>\n<p>Nio has been plagued for roughly half the year by supply chain issues (specifically semiconductor chip shortages) tied to the pandemic. However, with these supply issues beginning to resolve, Nio has a clear path to quickly boost its EV output and perhaps even push toward recurring profitability by the end of next year.</p>\n<p>In November, we received a pretty big clue that supply chain issues weren't holding the company back any longer. Deliveries for the month hit 10,878, which works out to more than 130,000 EVs on an annual run rate basis.&nbsp; With the company aiming to introduce three new vehicles next year, as well as lift its annual run rate to 600,000 EVs by year's end, Nio's shares could well be electric.</p>\n<p>Furthermore, don't overlook the importance of its battery-as-a-service (BaaS) program, which allows EV buyers to charge, swap, and upgrade their batteries. The BaaS service charges a recurring monthly fee and reduces the initial purchase price of Nio EVs. In exchange for giving up near-term revenue, the BaaS program will secure high-margin, long-term, fee-based revenue, and it'll provide added incentive for buyers to remain loyal to the Nio brand for a long time to come.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Fwoman-testing-server-data-center-network-wireless-iot-business-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Fastly</h2>\n<p>Edge cloud services provider <b>Fastly</b> (NYSE:FSLY) has been something of a train wreck in 2021. As of this past weekend, shares were lower by 53%, year to date.</p>\n<p>Fastly's woes are the result of bigger-than-expected operating losses as headcount and marketing expenses ramped up, as well as a service outage in June that caused the company to lose a handful of customers. Though the luster may be temporarily removed from this pandemic highflier, the long-term growth thesis remains firmly in place.</p>\n<p>Fastly is arguably best known as a content delivery network specialist. Its job is to ensure that content reaches end users as quickly and securely as possible. To that end, adjusted gross margin continues to hover around a juicy 60% (plus or minus 3%), and the company's total customer count keeps heading higher. With few exceptions, existing clients are consistently increasing their spending by a double-digit percentage on a year-over-year basis.</p>\n<p>Fastly also happens to be a clear and obvious beneficiary of growth in the metaverse -- the next iteration of the internet that allows users to interact in 3D virtual environments. One of the most critical aspects of making the metaverse tick will be reducing latency. In other words, minimizing lag in data-driven virtual worlds will be key, and Fastly should be up to the task.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Fcannabis-plant-marijuana-pot-weed-dried-flower-legal-canada-us-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"525\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Cresco Labs</h2>\n<p>Marijuana stocks started 2021 with a bang, but they've been an utter buzzkill since February. This is especially true for U.S. multi-state operator (MSO) <b>Cresco Labs</b> (OTC:CRLBF), whose shares have fallen 32% this year.</p>\n<p>Cannabis stocks like Cresco bolted higher earlier this year on the idea that newly elected President Joe Biden and a Democrat-led Congress would legalize pot at the federal level, or at worst pass cannabis banking reforms. Unfortunately, none of this has come to fruition and pot stock investors watched their early-year gains go up in smoke. Thankfully, federal legalization isn't a requirement for large-scale MSOs to thrive.</p>\n<p>Cresco currently has 45 operating dispensaries, with many focused on high-dollar markets (Florida) or limited-license states (like Illinois and Ohio). Regulators in limited-license markets purposely cap the number of dispensary licenses issued in total, as well as to a single business. Since Cresco doesn't have a huge retail presence, this license limitation actually works in its favor. It's able to build up its brands and garner a loyal following without being overrun by a larger MSO.</p>\n<p>What's more, Cresco Labs is the industry leader in wholesale cannabis. It holds a coveted cannabis distribution license in California, the leading market for weed sales in the world. This license allows the company to place its proprietary pot products into more than 575 dispensaries throughout the Golden State. Wholesale could be Cresco's key to reaching recurring profitability in 2022.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Ftelemedicine-patient-doctor-physician-virtual-conference-healthcare-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Teladoc Health</h2>\n<p>Another popular pandemic play that's been beaten down in 2021 is <b>Teladoc Health</b> (NYSE:TDOC). The United States' leading telehealth provider has seen shares dive 51% this year, and at <a href=\"https://laohu8.com/S/AONE.U\">one</a> point they fell more than 70% from their February 2021 all-time high.</p>\n<p>The concerns with Teladoc center on its wider-than-expected losses following the acquisition of applied health signals company Livongo Health, as well as skepticism that its growth rates are sustainable with the worst of the coronavirus pandemic (perhaps) in the rearview mirror. However, neither of these issues disrupts or alters the long-term thesis for Teladoc.</p>\n<p>For instance, Teladoc is completely changing the way personalized care is administered in the United States. It's offering a more convenient way for patients and doctors to connect, and making it much easier for physicians to keep tabs on chronically ill people. Ultimately, virtual visits can improve patient outcomes and lower healthcare costs, which is music to the ears of health insurers. Perhaps this is why Teladoc averaged 74% annual revenue growth in the six years leading up to the pandemic.</p>\n<p>The buyout of Livongo is also a key differentiator. Livongo leans on artificial intelligence to send tips and nudges to people with chronic illnesses to help them lead healthier lives. Thus far, it's primarily been focused on people with diabetes. Looking ahead, Livongo will target its services to include those with hypertension and weight management issues. Teladoc and Livongo being able to cross-sell their services should make this among the fastest-growing healthcare companies this decade.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F658086%2Fwork-from-home-laptop-businesswoman-wheelchair-coffee-getty.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Pinterest</h2>\n<p>A fifth beaten-down growth stock with the potential to soar in 2022 is social media platform <b>Pinterest</b> (NYSE:PINS). Shares are down nearly 45% this year, as of last weekend.</p>\n<p>Pinterest's miserable performance in 2021 can be explained by its monthly active user (MAU) figures. After delivering blistering MAU growth throughout the pandemic, the company's second-quarter and third-quarter MAU figures have sequentially declined. This drop from a peak of 478 million MAUs at the end of the first quarter to 444 million MAUs by the end of Q3 hasn't sat well with Wall Street.</p>\n<p>But there's another side to this story. Reset the binoculars to look at MAU growth over the past four or five years, and you'll see that user growth is still within historic norms. More importantly, Pinterest is generating incredible sales growth from monetizing its user base. Even though MAUs increased less than 1% in the third quarter, average revenue per user (ARPU) globally rose 37%, with international ARPU skyrocketing 81% from the prior-year period. This plainly shows that advertisers will pay big bucks to get their message in front of Pinterest's users.</p>\n<p>There's also a clear path for Pinterest to become a force in e-commerce this decade. Since its users freely post about the things, places, and services that interest them, there's no guesswork as to what they like. This allows merchants to effectively target their ad dollars at motivated shoppers. As long as Pinterest can keep users engaged, it'll be the perfect e-commerce middleman.</p>","source":"fool_stock","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>5 Beaten-Down Growth Stocks That Can Soar in 2022</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n5 Beaten-Down Growth Stocks That Can Soar in 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-21 21:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/12/21/5-beaten-down-growth-stocks-that-can-soar-in-2022/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When the page turns on 2021 in just 10 days, it'll almost certainly go down as another successful year for the broad-market indexes. Through this past weekend, the benchmark S&P 500 had gained 23% ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/21/5-beaten-down-growth-stocks-that-can-soar-in-2022/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","TDOC":"Teladoc Health Inc.","BK4531":"中概回港概念","BK4567":"ESG概念","BK4534":"瑞士信贷持仓","BK4555":"新能源车","NIO":"蔚来","BK4509":"腾讯概念","BK4508":"社交媒体","PINS":"Pinterest, Inc.","BK4167":"医疗保健技术","BK4077":"互动媒体与服务","BK4116":"互联网服务与基础架构","BK4526":"热门中概股","FSLY":"Fastly, Inc.","BK4551":"寇图资本持仓","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","BK4099":"汽车制造商","BK4548":"巴美列捷福持仓"},"source_url":"https://www.fool.com/investing/2021/12/21/5-beaten-down-growth-stocks-that-can-soar-in-2022/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2193156023","content_text":"When the page turns on 2021 in just 10 days, it'll almost certainly go down as another successful year for the broad-market indexes. Through this past weekend, the benchmark S&P 500 had gained 23% year to date, which is well above its historic average annual return.\nBut it's been a bit of a mixed year for growth stocks. While the FAANG stocks have held up well, quite a few of the high-growth innovators that thrived during the pandemic were pummeled this year. If you're looking for high-quality, beaten-down growth stocks to invest in, the following five could soar in 2022.\nImage source: Getty Images.\nNio\nOnce an electric vehicle (EV) darling on Wall Street, China-based EV manufacturer Nio (NYSE:NIO) lost its charge this year. Through Dec. 19, shares of the company were lower by 38%.\nNio has been plagued for roughly half the year by supply chain issues (specifically semiconductor chip shortages) tied to the pandemic. However, with these supply issues beginning to resolve, Nio has a clear path to quickly boost its EV output and perhaps even push toward recurring profitability by the end of next year.\nIn November, we received a pretty big clue that supply chain issues weren't holding the company back any longer. Deliveries for the month hit 10,878, which works out to more than 130,000 EVs on an annual run rate basis.  With the company aiming to introduce three new vehicles next year, as well as lift its annual run rate to 600,000 EVs by year's end, Nio's shares could well be electric.\nFurthermore, don't overlook the importance of its battery-as-a-service (BaaS) program, which allows EV buyers to charge, swap, and upgrade their batteries. The BaaS service charges a recurring monthly fee and reduces the initial purchase price of Nio EVs. In exchange for giving up near-term revenue, the BaaS program will secure high-margin, long-term, fee-based revenue, and it'll provide added incentive for buyers to remain loyal to the Nio brand for a long time to come.\nImage source: Getty Images.\nFastly\nEdge cloud services provider Fastly (NYSE:FSLY) has been something of a train wreck in 2021. As of this past weekend, shares were lower by 53%, year to date.\nFastly's woes are the result of bigger-than-expected operating losses as headcount and marketing expenses ramped up, as well as a service outage in June that caused the company to lose a handful of customers. Though the luster may be temporarily removed from this pandemic highflier, the long-term growth thesis remains firmly in place.\nFastly is arguably best known as a content delivery network specialist. Its job is to ensure that content reaches end users as quickly and securely as possible. To that end, adjusted gross margin continues to hover around a juicy 60% (plus or minus 3%), and the company's total customer count keeps heading higher. With few exceptions, existing clients are consistently increasing their spending by a double-digit percentage on a year-over-year basis.\nFastly also happens to be a clear and obvious beneficiary of growth in the metaverse -- the next iteration of the internet that allows users to interact in 3D virtual environments. One of the most critical aspects of making the metaverse tick will be reducing latency. In other words, minimizing lag in data-driven virtual worlds will be key, and Fastly should be up to the task.\nImage source: Getty Images.\nCresco Labs\nMarijuana stocks started 2021 with a bang, but they've been an utter buzzkill since February. This is especially true for U.S. multi-state operator (MSO) Cresco Labs (OTC:CRLBF), whose shares have fallen 32% this year.\nCannabis stocks like Cresco bolted higher earlier this year on the idea that newly elected President Joe Biden and a Democrat-led Congress would legalize pot at the federal level, or at worst pass cannabis banking reforms. Unfortunately, none of this has come to fruition and pot stock investors watched their early-year gains go up in smoke. Thankfully, federal legalization isn't a requirement for large-scale MSOs to thrive.\nCresco currently has 45 operating dispensaries, with many focused on high-dollar markets (Florida) or limited-license states (like Illinois and Ohio). Regulators in limited-license markets purposely cap the number of dispensary licenses issued in total, as well as to a single business. Since Cresco doesn't have a huge retail presence, this license limitation actually works in its favor. It's able to build up its brands and garner a loyal following without being overrun by a larger MSO.\nWhat's more, Cresco Labs is the industry leader in wholesale cannabis. It holds a coveted cannabis distribution license in California, the leading market for weed sales in the world. This license allows the company to place its proprietary pot products into more than 575 dispensaries throughout the Golden State. Wholesale could be Cresco's key to reaching recurring profitability in 2022.\nImage source: Getty Images.\nTeladoc Health\nAnother popular pandemic play that's been beaten down in 2021 is Teladoc Health (NYSE:TDOC). The United States' leading telehealth provider has seen shares dive 51% this year, and at one point they fell more than 70% from their February 2021 all-time high.\nThe concerns with Teladoc center on its wider-than-expected losses following the acquisition of applied health signals company Livongo Health, as well as skepticism that its growth rates are sustainable with the worst of the coronavirus pandemic (perhaps) in the rearview mirror. However, neither of these issues disrupts or alters the long-term thesis for Teladoc.\nFor instance, Teladoc is completely changing the way personalized care is administered in the United States. It's offering a more convenient way for patients and doctors to connect, and making it much easier for physicians to keep tabs on chronically ill people. Ultimately, virtual visits can improve patient outcomes and lower healthcare costs, which is music to the ears of health insurers. Perhaps this is why Teladoc averaged 74% annual revenue growth in the six years leading up to the pandemic.\nThe buyout of Livongo is also a key differentiator. Livongo leans on artificial intelligence to send tips and nudges to people with chronic illnesses to help them lead healthier lives. Thus far, it's primarily been focused on people with diabetes. Looking ahead, Livongo will target its services to include those with hypertension and weight management issues. Teladoc and Livongo being able to cross-sell their services should make this among the fastest-growing healthcare companies this decade.\nImage source: Getty Images.\nPinterest\nA fifth beaten-down growth stock with the potential to soar in 2022 is social media platform Pinterest (NYSE:PINS). Shares are down nearly 45% this year, as of last weekend.\nPinterest's miserable performance in 2021 can be explained by its monthly active user (MAU) figures. After delivering blistering MAU growth throughout the pandemic, the company's second-quarter and third-quarter MAU figures have sequentially declined. This drop from a peak of 478 million MAUs at the end of the first quarter to 444 million MAUs by the end of Q3 hasn't sat well with Wall Street.\nBut there's another side to this story. Reset the binoculars to look at MAU growth over the past four or five years, and you'll see that user growth is still within historic norms. More importantly, Pinterest is generating incredible sales growth from monetizing its user base. Even though MAUs increased less than 1% in the third quarter, average revenue per user (ARPU) globally rose 37%, with international ARPU skyrocketing 81% from the prior-year period. This plainly shows that advertisers will pay big bucks to get their message in front of Pinterest's users.\nThere's also a clear path for Pinterest to become a force in e-commerce this decade. Since its users freely post about the things, places, and services that interest them, there's no guesswork as to what they like. This allows merchants to effectively target their ad dollars at motivated shoppers. As long as Pinterest can keep users engaged, it'll be the perfect e-commerce middleman.","news_type":1},"isVote":1,"tweetType":1,"viewCount":690,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691091555,"gmtCreate":1640095008489,"gmtModify":1640095008489,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$</a>继续加油","listText":"<a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$</a>继续加油","text":"$英伟达(NVDA)$继续加油","images":[{"img":"https://static.tigerbbs.com/fc2146c71195a9287559dba062d5e900","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691091555","isVote":1,"tweetType":1,"viewCount":701,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":877650413,"gmtCreate":1637928089115,"gmtModify":1637928089115,"author":{"id":"3460029449307340","authorId":"3460029449307340","name":"大道有形我无形着眼2030","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3460029449307340","authorIdStr":"3460029449307340"},"themes":[],"htmlText":"营收超预期，亏损扩大，处于新一轮扩张期","listText":"营收超预期，亏损扩大，处于新一轮扩张期","text":"营收超预期，亏损扩大，处于新一轮扩张期","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877650413","repostId":"1184440076","repostType":4,"repost":{"id":"1184440076","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1637918652,"share":"https://www.laohu8.com/m/news/1184440076?lang=&edition=full","pubTime":"2021-11-26 17:24","market":"other","language":"zh","title":"美团Q3营收488.3亿元，调整后净亏损55.3亿元","url":"https://stock-news.laohu8.com/highlight/detail?id=1184440076","media":"老虎资讯综合","summary":"11月26日，美团-W发布2021年第三季度业绩。财报显示，第三季度营收488.3亿元，市场预期487.14亿元，去年同期354亿元；第三季度净亏损99.9亿元，市场预期净亏损67.68亿元，去年同期","content":"<p>11月26日，<a href=\"https://laohu8.com/S/03690\">美团-W</a>发布2021年第三季度业绩。财报显示，第三季度营收488.3亿元，市场预期487.14亿元，去年同期354亿元；第三季度净亏损99.9亿元，市场预期净亏损67.68亿元，去年同期净利润63.22亿元；第三季度调整后净亏损55.3亿元人民币；第三季度营业损失101亿元人民币。</p>\n<p><img src=\"https://static.tigerbbs.com/40fc748d10595866af2f2645e2d1b95f\" tg-width=\"1093\" tg-height=\"688\" referrerpolicy=\"no-referrer\"></p>\n<p><b>业务回顾</b></p>\n<p><b>公司财务摘要</b></p>\n<p>2021年第三季度，我们的总收入同比增长37.9%，由2020年同期的人民币354亿元增加至人民币488亿元。我们的餐饮外卖及到店、酒店及旅游分部收入实现稳健增长，2021年第三季度实现分部经营溢利总额人民币47亿元，较2020年同期的人民币36亿元有所增长；我们在能够为公司带来长期价值的领域继续投资，导致新业务及其他分部的经营亏损随之扩大。因此，2021年第三季度的经调整EBITDA及经调整溢利淨额分别同比下跌至负人民币41亿元及经调整亏损淨额人民币55亿元。2021年第三季度的经营活动所得现金淨额由2020年同期的流入人民币33亿元转为流出人民币40亿元。截至2021年9月30日，现金及现金等价物及短期理财投资的结馀分别为人民币509亿元及人民币700亿元，而截至2021年6月30日的相关结馀则分别为人民币714亿元及人民币511亿元。</p>\n<p><img src=\"https://static.tigerbbs.com/0c3744e4c6193b94d6f23e670db1abd0\" tg-width=\"543\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p><b>公司业务摘要</b></p>\n<p><b>餐饮外卖</b></p>\n<p>尽管受到德尔塔变种病毒、极端天气及行业进入增长平稳期等因素所影响，我们的餐饮外卖分部业务于2021年第三季度仍然保持强韧增长。我们的餐饮外卖业务交易金额于季内同比增长29.5%至人民币1,971亿元。餐饮外卖日均交易笔数同比增长24.9%至43.6百万笔，收入同比增长28.0%至人民币265亿元。经营溢利于2021年第三季度同比增加14.0%至人民币876.1百万元，而经营利润率则由3.7%略为下降至3.3%。</p>\n<p>在消费者端，我们的平台提供更多元化的选择及更多高质量的品类，以迎合消费者不断变化的喜好。在夏季期间，夜宵及下午茶尤其受欢迎，来自这两个品类的订单量于季内录得两年複合年增长率均接近30%。我们在超过15个城市推出优质夜宵商家的特别促销活动，并与许多奶茶品牌合作推出季节性促销活动以刺激奶茶销量。受惠于上述营运策略，季度交易用户数及平均下单频次均创新高，对消费者而言，我们的餐饮外卖业务不仅已成为不可或缺的服务，还覆盖了更多的消费场景。</p>\n<p>在商户端，季度活跃商家数目持续上升。随着线上运营对餐饮行业的重要性与日俱增，我们进一步扩大了服务范畴，推出更多在线工具和解决方案以协助餐厅提升运营效率。我们在线上门店装修、营销、活动组织及经营分析等方面提供了多种培训项目，来协助商户更好地适应数字经济。越来越多的商户通过使用我们的服务，成功拥抱数字化转型并在业务量层面实现了更高的增长，对此我们感到自豪。</p>\n<p>在骑手保障方面，我们正积极响应政策号召，在有关部门的指导下筹备对接职业伤害保障试点，完善骑手权益保障。我们将持续围绕保障骑手合理收入、科学确定劳动强度、完善骑手社会保障、落实安全卫生责任、健全餐饮外卖骑手的申诉机制、推动骑手职业发展六个方面，保障骑手劳动权益。为更好倾听骑手声音，我们在全国已成功举办了110场骑手恳谈会，聆听他们的意见并广泛收集反馈。</p>\n<p>此外，我们也在推动配送调度系统的公开、透明，并持续进行改善。今年9月，我们向社会公开了美团外卖配送“预估送达时间”算法，针对远距离、单量多等高难度配送场景，试点将订单显示的预估送达“时间点”变为“时间段”，并在恶劣天气等场景下为骑手提供弹性补时及补贴，降低骑手配送难度。儘管我们在这些方面已取得不错的进展，我们仍然注意到订单调度系统的複杂性且存在很多关键变量。基于以人为本的运营方针，我们将继续探索并改进该系统。我们也将提高算法及系统的透明度、听取各方反馈并反覆迭代，以及推动行业健康发展。</p>\n<p>到店、酒店及旅游</p>\n<p>儘管本季度受到德尔塔变种病毒及宏观经济环境的影响，我们的到店、酒店及旅游业务仍录得稳定增长。2021年第三季度收入仍然同比增加33.1%至人民币86亿元。经营溢利由2020年第三季度的人民币28亿元增加35.8%至2021年同期的人民币38亿元，而经营利润率则由43.0%略为增加至43.9%。</p>\n<p>在到店餐饮方面，即使8月受德尔塔变种病毒的影响业务有所放缓，我们仍然保持稳定的增长。本季度，我们提升了服务质量并对商户进行了分层运营，增强了商户渗透率并上线了更多优质餐厅。在这个充满挑战的环境中，我们的综合解决方案为本地餐厅带来用户流量。在消费者方面，我们利用节日及促销活动刺激消费，迎合多样化的消费者喜好。在七夕节期间，我们的营销活动成功鼓励了消费，交易金额及交易量再创新高。节日期间在我们平台上的餐厅预订量也有所增加，消费者养成提前预定的习惯。于本季度，交易频次及用户黏性均得以提升。</p>\n<p>于其他到店服务方面，我们亦保持强劲增长势头，主要受医疗、宠物、亲子、健身及休閒娱乐等品类带动。我们加强了商户渗透率并覆盖了更广阔的低线市场，进一步优化了运营，从而为消费者提供更多个性化产品和服务。我们的酒店预订业务深受德尔塔变种病毒及出行限制的影响。但本季度境内酒店间夜量与2019年及2020年同期相比仍实现了正增长。我们加强了在短途旅行场景和本地住宿方面的结构化优势，同时利用促销活动及优惠套餐强化消费者心智。</p>\n<p>新业务及其他</p>\n<p>于2021年第三季度，我们的新业务及其他分部的收入同比增加66.7%至人民币137亿元，主要受零售业务以及共享骑行服务增长带动。2021年第三季度，该分部的经营亏损同比及环比增长至人民币109亿元，而经营亏损率环比则继续下降2.7个百分点至负79.5%。</p>\n<p>美团优选方面，我们在遵守法规及确保合理定价政策的基础上专注于高质量增长。我们不断为消费者提供便捷、物超所值且种类繁多的产品，同时在供应链、仓储、物流及运营方面进一步提升长期能力，确保产品及服务质量。凭藉我们过去数个季度在冷链物流方面的持续投资，我们得以在夏季期间将稳定品质的生鲜和冻品即时配送到消费者手中。此外，在乡村振兴战略号召下，我们与地方政府合作，为当地农民开通用于销售农产品的“绿色通道”。我们亦为来自农村地区的居民、自提站点站长和乡村电商带头人创造就业机会并提供各种培训项目。通过这些努力，我们不仅优化了业务营运，更重要的是为整个价值链中的所有参与者创造了价值。</p>\n<p>美团买菜方面，我们的用户基数及交易金额持续增长，得益于我们通过缩短配送时长以及扩充鲜食与快消品类选择进一步提升消费者体验。在一线市场完成覆盖后，我们亦专注于运营迭代和效率提升，持续优化了单位经济效益并带来更高的投资回报。</p>\n<p>美团闪购方面，本季度我们再度取得强劲增长。在消费者端，我们藉着七夕和中秋节日推出促销活动，有效培养了消费者购买本地商品享受即时配送的习惯并进一步抓住了消费者心智。随着我们平台上商品品类和选择的不断拓宽，我们进一步满足了消费者日益增长的需求。尤其于七夕节期间，单日订单量再创新高，热门消费品类由鲜花延伸至包括美妆、3C电子等礼品。在商户方面，我们加深了与本地优质商户的合作，为他们提供线上解决方案及工具来帮助他们适应线上化转型。本季度超市及便利店的交易金额取得了最高的环比增长。就医药品类方面，我们向本地药店提供线上营运支持，并推出“小黄灯”项目－全天候智慧药店。我们深信，线上零售业务的终局是由“万货商店”演变为“万物到家”，我们具备抓住这一机会的优势，我们将利用现有的即时配送网络、我们的平台优势以及交易用户规模来加快行业转型。</p>\n<p>我们对本季度在零售业务方面取得的进展感到满意。我们的三大业务模式满足了不同消费场景下不同类别消费者的各种需求。更重要的是，通过技术创新，我们有效巩固了产业价值链上的各个节点并提升了效率，从而为市场参与者及社会大众带来更多价值。展望未来，我们将继续在零售领域配置资源，促进行业更好发展。</p>\n<p>于10月，我们收到中华人民共和国国家市场监督管理总局（“国家市场监管总局”）就反垄断调查作出的《行政处罚决定书》和《行政指导书》。对此，我们诚恳接受，坚决落实。我们将依法合规经营，自觉维护公平竞争秩序，切实履行社会责任，更好地服从和服务于经济社会发展大局，努力为国家经济高质量发展多做贡献，践行我们“帮大家吃得更好，生活更好”的使命，助力实现“共同富裕”这一长期目标。</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>美团Q3营收488.3亿元，调整后净亏损55.3亿元</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; 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美团Q3营收488.3亿元，调整后净亏损55.3亿元\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-11-26 17:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>11月26日，<a href=\"https://laohu8.com/S/03690\">美团-W</a>发布2021年第三季度业绩。财报显示，第三季度营收488.3亿元，市场预期487.14亿元，去年同期354亿元；第三季度净亏损99.9亿元，市场预期净亏损67.68亿元，去年同期净利润63.22亿元；第三季度调整后净亏损55.3亿元人民币；第三季度营业损失101亿元人民币。</p>\n<p><img src=\"https://static.tigerbbs.com/40fc748d10595866af2f2645e2d1b95f\" tg-width=\"1093\" tg-height=\"688\" referrerpolicy=\"no-referrer\"></p>\n<p><b>业务回顾</b></p>\n<p><b>公司财务摘要</b></p>\n<p>2021年第三季度，我们的总收入同比增长37.9%，由2020年同期的人民币354亿元增加至人民币488亿元。我们的餐饮外卖及到店、酒店及旅游分部收入实现稳健增长，2021年第三季度实现分部经营溢利总额人民币47亿元，较2020年同期的人民币36亿元有所增长；我们在能够为公司带来长期价值的领域继续投资，导致新业务及其他分部的经营亏损随之扩大。因此，2021年第三季度的经调整EBITDA及经调整溢利淨额分别同比下跌至负人民币41亿元及经调整亏损淨额人民币55亿元。2021年第三季度的经营活动所得现金淨额由2020年同期的流入人民币33亿元转为流出人民币40亿元。截至2021年9月30日，现金及现金等价物及短期理财投资的结馀分别为人民币509亿元及人民币700亿元，而截至2021年6月30日的相关结馀则分别为人民币714亿元及人民币511亿元。</p>\n<p><img src=\"https://static.tigerbbs.com/0c3744e4c6193b94d6f23e670db1abd0\" tg-width=\"543\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p><b>公司业务摘要</b></p>\n<p><b>餐饮外卖</b></p>\n<p>尽管受到德尔塔变种病毒、极端天气及行业进入增长平稳期等因素所影响，我们的餐饮外卖分部业务于2021年第三季度仍然保持强韧增长。我们的餐饮外卖业务交易金额于季内同比增长29.5%至人民币1,971亿元。餐饮外卖日均交易笔数同比增长24.9%至43.6百万笔，收入同比增长28.0%至人民币265亿元。经营溢利于2021年第三季度同比增加14.0%至人民币876.1百万元，而经营利润率则由3.7%略为下降至3.3%。</p>\n<p>在消费者端，我们的平台提供更多元化的选择及更多高质量的品类，以迎合消费者不断变化的喜好。在夏季期间，夜宵及下午茶尤其受欢迎，来自这两个品类的订单量于季内录得两年複合年增长率均接近30%。我们在超过15个城市推出优质夜宵商家的特别促销活动，并与许多奶茶品牌合作推出季节性促销活动以刺激奶茶销量。受惠于上述营运策略，季度交易用户数及平均下单频次均创新高，对消费者而言，我们的餐饮外卖业务不仅已成为不可或缺的服务，还覆盖了更多的消费场景。</p>\n<p>在商户端，季度活跃商家数目持续上升。随着线上运营对餐饮行业的重要性与日俱增，我们进一步扩大了服务范畴，推出更多在线工具和解决方案以协助餐厅提升运营效率。我们在线上门店装修、营销、活动组织及经营分析等方面提供了多种培训项目，来协助商户更好地适应数字经济。越来越多的商户通过使用我们的服务，成功拥抱数字化转型并在业务量层面实现了更高的增长，对此我们感到自豪。</p>\n<p>在骑手保障方面，我们正积极响应政策号召，在有关部门的指导下筹备对接职业伤害保障试点，完善骑手权益保障。我们将持续围绕保障骑手合理收入、科学确定劳动强度、完善骑手社会保障、落实安全卫生责任、健全餐饮外卖骑手的申诉机制、推动骑手职业发展六个方面，保障骑手劳动权益。为更好倾听骑手声音，我们在全国已成功举办了110场骑手恳谈会，聆听他们的意见并广泛收集反馈。</p>\n<p>此外，我们也在推动配送调度系统的公开、透明，并持续进行改善。今年9月，我们向社会公开了美团外卖配送“预估送达时间”算法，针对远距离、单量多等高难度配送场景，试点将订单显示的预估送达“时间点”变为“时间段”，并在恶劣天气等场景下为骑手提供弹性补时及补贴，降低骑手配送难度。儘管我们在这些方面已取得不错的进展，我们仍然注意到订单调度系统的複杂性且存在很多关键变量。基于以人为本的运营方针，我们将继续探索并改进该系统。我们也将提高算法及系统的透明度、听取各方反馈并反覆迭代，以及推动行业健康发展。</p>\n<p>到店、酒店及旅游</p>\n<p>儘管本季度受到德尔塔变种病毒及宏观经济环境的影响，我们的到店、酒店及旅游业务仍录得稳定增长。2021年第三季度收入仍然同比增加33.1%至人民币86亿元。经营溢利由2020年第三季度的人民币28亿元增加35.8%至2021年同期的人民币38亿元，而经营利润率则由43.0%略为增加至43.9%。</p>\n<p>在到店餐饮方面，即使8月受德尔塔变种病毒的影响业务有所放缓，我们仍然保持稳定的增长。本季度，我们提升了服务质量并对商户进行了分层运营，增强了商户渗透率并上线了更多优质餐厅。在这个充满挑战的环境中，我们的综合解决方案为本地餐厅带来用户流量。在消费者方面，我们利用节日及促销活动刺激消费，迎合多样化的消费者喜好。在七夕节期间，我们的营销活动成功鼓励了消费，交易金额及交易量再创新高。节日期间在我们平台上的餐厅预订量也有所增加，消费者养成提前预定的习惯。于本季度，交易频次及用户黏性均得以提升。</p>\n<p>于其他到店服务方面，我们亦保持强劲增长势头，主要受医疗、宠物、亲子、健身及休閒娱乐等品类带动。我们加强了商户渗透率并覆盖了更广阔的低线市场，进一步优化了运营，从而为消费者提供更多个性化产品和服务。我们的酒店预订业务深受德尔塔变种病毒及出行限制的影响。但本季度境内酒店间夜量与2019年及2020年同期相比仍实现了正增长。我们加强了在短途旅行场景和本地住宿方面的结构化优势，同时利用促销活动及优惠套餐强化消费者心智。</p>\n<p>新业务及其他</p>\n<p>于2021年第三季度，我们的新业务及其他分部的收入同比增加66.7%至人民币137亿元，主要受零售业务以及共享骑行服务增长带动。2021年第三季度，该分部的经营亏损同比及环比增长至人民币109亿元，而经营亏损率环比则继续下降2.7个百分点至负79.5%。</p>\n<p>美团优选方面，我们在遵守法规及确保合理定价政策的基础上专注于高质量增长。我们不断为消费者提供便捷、物超所值且种类繁多的产品，同时在供应链、仓储、物流及运营方面进一步提升长期能力，确保产品及服务质量。凭藉我们过去数个季度在冷链物流方面的持续投资，我们得以在夏季期间将稳定品质的生鲜和冻品即时配送到消费者手中。此外，在乡村振兴战略号召下，我们与地方政府合作，为当地农民开通用于销售农产品的“绿色通道”。我们亦为来自农村地区的居民、自提站点站长和乡村电商带头人创造就业机会并提供各种培训项目。通过这些努力，我们不仅优化了业务营运，更重要的是为整个价值链中的所有参与者创造了价值。</p>\n<p>美团买菜方面，我们的用户基数及交易金额持续增长，得益于我们通过缩短配送时长以及扩充鲜食与快消品类选择进一步提升消费者体验。在一线市场完成覆盖后，我们亦专注于运营迭代和效率提升，持续优化了单位经济效益并带来更高的投资回报。</p>\n<p>美团闪购方面，本季度我们再度取得强劲增长。在消费者端，我们藉着七夕和中秋节日推出促销活动，有效培养了消费者购买本地商品享受即时配送的习惯并进一步抓住了消费者心智。随着我们平台上商品品类和选择的不断拓宽，我们进一步满足了消费者日益增长的需求。尤其于七夕节期间，单日订单量再创新高，热门消费品类由鲜花延伸至包括美妆、3C电子等礼品。在商户方面，我们加深了与本地优质商户的合作，为他们提供线上解决方案及工具来帮助他们适应线上化转型。本季度超市及便利店的交易金额取得了最高的环比增长。就医药品类方面，我们向本地药店提供线上营运支持，并推出“小黄灯”项目－全天候智慧药店。我们深信，线上零售业务的终局是由“万货商店”演变为“万物到家”，我们具备抓住这一机会的优势，我们将利用现有的即时配送网络、我们的平台优势以及交易用户规模来加快行业转型。</p>\n<p>我们对本季度在零售业务方面取得的进展感到满意。我们的三大业务模式满足了不同消费场景下不同类别消费者的各种需求。更重要的是，通过技术创新，我们有效巩固了产业价值链上的各个节点并提升了效率，从而为市场参与者及社会大众带来更多价值。展望未来，我们将继续在零售领域配置资源，促进行业更好发展。</p>\n<p>于10月，我们收到中华人民共和国国家市场监督管理总局（“国家市场监管总局”）就反垄断调查作出的《行政处罚决定书》和《行政指导书》。对此，我们诚恳接受，坚决落实。我们将依法合规经营，自觉维护公平竞争秩序，切实履行社会责任，更好地服从和服务于经济社会发展大局，努力为国家经济高质量发展多做贡献，践行我们“帮大家吃得更好，生活更好”的使命，助力实现“共同富裕”这一长期目标。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e1238455e09ac8d1135014cb37eb0f4d","relate_stocks":{"BK1591":"就地过年概念","BK1589":"北水核心资产","BK1142":"互联网与直销零售","BK1521":"挪威政府全球养老基金持仓","BK1575":"同股不同权","03690":"美团-W","BK1604":"节假日概念","BK1583":"高瓴概念","QNETCN":"纳斯达克中美互联网老虎指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184440076","content_text":"11月26日，美团-W发布2021年第三季度业绩。财报显示，第三季度营收488.3亿元，市场预期487.14亿元，去年同期354亿元；第三季度净亏损99.9亿元，市场预期净亏损67.68亿元，去年同期净利润63.22亿元；第三季度调整后净亏损55.3亿元人民币；第三季度营业损失101亿元人民币。\n\n业务回顾\n公司财务摘要\n2021年第三季度，我们的总收入同比增长37.9%，由2020年同期的人民币354亿元增加至人民币488亿元。我们的餐饮外卖及到店、酒店及旅游分部收入实现稳健增长，2021年第三季度实现分部经营溢利总额人民币47亿元，较2020年同期的人民币36亿元有所增长；我们在能够为公司带来长期价值的领域继续投资，导致新业务及其他分部的经营亏损随之扩大。因此，2021年第三季度的经调整EBITDA及经调整溢利淨额分别同比下跌至负人民币41亿元及经调整亏损淨额人民币55亿元。2021年第三季度的经营活动所得现金淨额由2020年同期的流入人民币33亿元转为流出人民币40亿元。截至2021年9月30日，现金及现金等价物及短期理财投资的结馀分别为人民币509亿元及人民币700亿元，而截至2021年6月30日的相关结馀则分别为人民币714亿元及人民币511亿元。\n\n公司业务摘要\n餐饮外卖\n尽管受到德尔塔变种病毒、极端天气及行业进入增长平稳期等因素所影响，我们的餐饮外卖分部业务于2021年第三季度仍然保持强韧增长。我们的餐饮外卖业务交易金额于季内同比增长29.5%至人民币1,971亿元。餐饮外卖日均交易笔数同比增长24.9%至43.6百万笔，收入同比增长28.0%至人民币265亿元。经营溢利于2021年第三季度同比增加14.0%至人民币876.1百万元，而经营利润率则由3.7%略为下降至3.3%。\n在消费者端，我们的平台提供更多元化的选择及更多高质量的品类，以迎合消费者不断变化的喜好。在夏季期间，夜宵及下午茶尤其受欢迎，来自这两个品类的订单量于季内录得两年複合年增长率均接近30%。我们在超过15个城市推出优质夜宵商家的特别促销活动，并与许多奶茶品牌合作推出季节性促销活动以刺激奶茶销量。受惠于上述营运策略，季度交易用户数及平均下单频次均创新高，对消费者而言，我们的餐饮外卖业务不仅已成为不可或缺的服务，还覆盖了更多的消费场景。\n在商户端，季度活跃商家数目持续上升。随着线上运营对餐饮行业的重要性与日俱增，我们进一步扩大了服务范畴，推出更多在线工具和解决方案以协助餐厅提升运营效率。我们在线上门店装修、营销、活动组织及经营分析等方面提供了多种培训项目，来协助商户更好地适应数字经济。越来越多的商户通过使用我们的服务，成功拥抱数字化转型并在业务量层面实现了更高的增长，对此我们感到自豪。\n在骑手保障方面，我们正积极响应政策号召，在有关部门的指导下筹备对接职业伤害保障试点，完善骑手权益保障。我们将持续围绕保障骑手合理收入、科学确定劳动强度、完善骑手社会保障、落实安全卫生责任、健全餐饮外卖骑手的申诉机制、推动骑手职业发展六个方面，保障骑手劳动权益。为更好倾听骑手声音，我们在全国已成功举办了110场骑手恳谈会，聆听他们的意见并广泛收集反馈。\n此外，我们也在推动配送调度系统的公开、透明，并持续进行改善。今年9月，我们向社会公开了美团外卖配送“预估送达时间”算法，针对远距离、单量多等高难度配送场景，试点将订单显示的预估送达“时间点”变为“时间段”，并在恶劣天气等场景下为骑手提供弹性补时及补贴，降低骑手配送难度。儘管我们在这些方面已取得不错的进展，我们仍然注意到订单调度系统的複杂性且存在很多关键变量。基于以人为本的运营方针，我们将继续探索并改进该系统。我们也将提高算法及系统的透明度、听取各方反馈并反覆迭代，以及推动行业健康发展。\n到店、酒店及旅游\n儘管本季度受到德尔塔变种病毒及宏观经济环境的影响，我们的到店、酒店及旅游业务仍录得稳定增长。2021年第三季度收入仍然同比增加33.1%至人民币86亿元。经营溢利由2020年第三季度的人民币28亿元增加35.8%至2021年同期的人民币38亿元，而经营利润率则由43.0%略为增加至43.9%。\n在到店餐饮方面，即使8月受德尔塔变种病毒的影响业务有所放缓，我们仍然保持稳定的增长。本季度，我们提升了服务质量并对商户进行了分层运营，增强了商户渗透率并上线了更多优质餐厅。在这个充满挑战的环境中，我们的综合解决方案为本地餐厅带来用户流量。在消费者方面，我们利用节日及促销活动刺激消费，迎合多样化的消费者喜好。在七夕节期间，我们的营销活动成功鼓励了消费，交易金额及交易量再创新高。节日期间在我们平台上的餐厅预订量也有所增加，消费者养成提前预定的习惯。于本季度，交易频次及用户黏性均得以提升。\n于其他到店服务方面，我们亦保持强劲增长势头，主要受医疗、宠物、亲子、健身及休閒娱乐等品类带动。我们加强了商户渗透率并覆盖了更广阔的低线市场，进一步优化了运营，从而为消费者提供更多个性化产品和服务。我们的酒店预订业务深受德尔塔变种病毒及出行限制的影响。但本季度境内酒店间夜量与2019年及2020年同期相比仍实现了正增长。我们加强了在短途旅行场景和本地住宿方面的结构化优势，同时利用促销活动及优惠套餐强化消费者心智。\n新业务及其他\n于2021年第三季度，我们的新业务及其他分部的收入同比增加66.7%至人民币137亿元，主要受零售业务以及共享骑行服务增长带动。2021年第三季度，该分部的经营亏损同比及环比增长至人民币109亿元，而经营亏损率环比则继续下降2.7个百分点至负79.5%。\n美团优选方面，我们在遵守法规及确保合理定价政策的基础上专注于高质量增长。我们不断为消费者提供便捷、物超所值且种类繁多的产品，同时在供应链、仓储、物流及运营方面进一步提升长期能力，确保产品及服务质量。凭藉我们过去数个季度在冷链物流方面的持续投资，我们得以在夏季期间将稳定品质的生鲜和冻品即时配送到消费者手中。此外，在乡村振兴战略号召下，我们与地方政府合作，为当地农民开通用于销售农产品的“绿色通道”。我们亦为来自农村地区的居民、自提站点站长和乡村电商带头人创造就业机会并提供各种培训项目。通过这些努力，我们不仅优化了业务营运，更重要的是为整个价值链中的所有参与者创造了价值。\n美团买菜方面，我们的用户基数及交易金额持续增长，得益于我们通过缩短配送时长以及扩充鲜食与快消品类选择进一步提升消费者体验。在一线市场完成覆盖后，我们亦专注于运营迭代和效率提升，持续优化了单位经济效益并带来更高的投资回报。\n美团闪购方面，本季度我们再度取得强劲增长。在消费者端，我们藉着七夕和中秋节日推出促销活动，有效培养了消费者购买本地商品享受即时配送的习惯并进一步抓住了消费者心智。随着我们平台上商品品类和选择的不断拓宽，我们进一步满足了消费者日益增长的需求。尤其于七夕节期间，单日订单量再创新高，热门消费品类由鲜花延伸至包括美妆、3C电子等礼品。在商户方面，我们加深了与本地优质商户的合作，为他们提供线上解决方案及工具来帮助他们适应线上化转型。本季度超市及便利店的交易金额取得了最高的环比增长。就医药品类方面，我们向本地药店提供线上营运支持，并推出“小黄灯”项目－全天候智慧药店。我们深信，线上零售业务的终局是由“万货商店”演变为“万物到家”，我们具备抓住这一机会的优势，我们将利用现有的即时配送网络、我们的平台优势以及交易用户规模来加快行业转型。\n我们对本季度在零售业务方面取得的进展感到满意。我们的三大业务模式满足了不同消费场景下不同类别消费者的各种需求。更重要的是，通过技术创新，我们有效巩固了产业价值链上的各个节点并提升了效率，从而为市场参与者及社会大众带来更多价值。展望未来，我们将继续在零售领域配置资源，促进行业更好发展。\n于10月，我们收到中华人民共和国国家市场监督管理总局（“国家市场监管总局”）就反垄断调查作出的《行政处罚决定书》和《行政指导书》。对此，我们诚恳接受，坚决落实。我们将依法合规经营，自觉维护公平竞争秩序，切实履行社会责任，更好地服从和服务于经济社会发展大局，努力为国家经济高质量发展多做贡献，践行我们“帮大家吃得更好，生活更好”的使命，助力实现“共同富裕”这一长期目标。","news_type":1},"isVote":1,"tweetType":1,"viewCount":864,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}