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RichWife

RichWife

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2021-12-18

hi。特斯拉up

2021-12-09

Hi

外媒头条：小摩最新预测！明年全球经济将全面复苏

2021-12-08

Hi

抱歉，原内容已删除

2021-11-19

Hi

昨夜今晨：英伟达领涨科技股！苹果市值再登顶

2021-10-10

@tsla 升

2021-10-07

Hi

Lordstown Motors Is the Poster Child for Blank-Check Firms<blockquote>洛兹敦汽车公司是空白支票公司的典型代表</blockquote>

2021-09-09

Hi

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

2021-09-05

Hi

Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>

2021-09-04

Hi

抱歉，原内容已删除

2021-09-03

Hi

Zooming In On Zoom's Solid But Not Good Enough Results<blockquote>放大Zoom可靠但不够好的结果</blockquote>

2021-08-28

Hi

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2021-08-24

Hi

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2021-08-23

Hi

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2021-08-22

Hi

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2021-08-21

Hi

Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>

2021-08-18

Hi

抱歉，原内容已删除

2021-08-17

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2021-08-16

Hi

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2021-08-15

Hi

These 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</blockquote>

2021-08-14

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05:33","market":"hk","language":"zh","title":"外媒头条：小摩最新预测！明年全球经济将全面复苏","url":"https://stock-news.laohu8.com/highlight/detail?id=2190969538","media":"新浪财经","summary":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根大通：2022年全球经济将全面复苏\n\n\n2、辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n\n\n3、美银：标普500指数实","content":"<p><b>全球财经媒体昨夜今晨共同关注的头条新闻主要有：</b></p>\n<blockquote>\n <b>1、<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>：2022年全球经济将全面复苏</b>\n</blockquote>\n<blockquote>\n <b>2、<a href=\"https://laohu8.com/S/PFE\">辉瑞</a>CEO：因omicron的出现 可能要比预期更早接种第四针疫苗</b>\n</blockquote>\n<blockquote>\n <b>3、美银：标普500指数实际盈利收益率处于1947年以来最低水平</b>\n</blockquote>\n<blockquote>\n <b>4、美国商务部长：对欧盟数字法案的影响感到担忧</b>\n</blockquote>\n<blockquote>\n <b>5、等待芯片交付的时间再度拉长 缺货现象料难改善</b>\n</blockquote>\n<blockquote>\n <b>6、英国首相恢复居家工作建议 以遏制omicron传播</b>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/c73d5ba64db8e6f5394e17bed1d68026\" tg-width=\"365\" tg-height=\"259\" referrerpolicy=\"no-referrer\"></p>\n<p><b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>：2022年全球经济将全面复苏</b></p>\n<p>美国投行摩根大通周三预测，2022年将标志着新冠疫情的结束，全球经济将全面复苏。</p>\n<p>该行在2022年的展望报告中称，新的疫苗和疗法将引发“强劲的周期性复苏、全球流动性的回归以及消费者被压抑需求的释放”。</p>\n<p>摩根大通首席全球市场策略师兼全球研究联席主管Marko Kolanovic表示，该行预计，到2022年底，标普500指数将上涨近8%至5050点，新兴市场股票将飙升18%，10年期美国债收益率升至2.25%。</p>\n<p>Kolanovic称：“我们认为，2022年将是全球全面复苏、疫情结束以及恢复到疫情爆发前正常经济和市场状况的一年。”</p>\n<p><img src=\"https://static.tigerbbs.com/f64958459d8e15362eda127e159e2b5e\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p>\n<p><b><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>CEO：因omicron的出现 可能要比预期更早接种第四针疫苗</b></p>\n<p>辉瑞（Pfizer）首席执行官Albert Bourla周三表示，在初步研究表明omicron变体会破坏新冠疫苗产生的保护性抗体后，人们可能需要比预期更早地接种第四针新冠疫苗。</p>\n<p>辉瑞和BioNTech周三上午公布了一项初步实验室研究的结果，该结果表明，第三针疫苗可有效对抗omicron变体，而最初的两剂疫苗在抵御新毒株的能力方面显著下降。然而两家公司表示，两针疫苗可能仍然可以防止因omicron引起的重症。</p>\n<p>Bourla指出，该公司的初步研究是基于实验室创建的该变体的合成副本，需要从针对真实病毒的测试中获得更多数据。Bourla表示，真实情况的结果将更加准确，预计将在未来两周内公布。</p>\n<p>“当我们看到真实情况的数据时，将会确定第三剂是否能很好地抵御omicron以及持续多长时间。第二点，我认为我们需要第四剂加强针，”Bourla称。</p>\n<p>Bourla此前预计，在第三针注射后12个月，需要注射第四针。 “对于omicron，我们需要继续观察，因为我们掌握的信息很少。我们可能需要更快，”他说。</p>\n<p><img src=\"https://static.tigerbbs.com/f7f315f864fdab28ae7ded4de244515e\" tg-width=\"550\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美银：标普500指数实际盈利收益率处于1947年以来最低水平</b></p>\n<p><a href=\"https://laohu8.com/S/BAC\">美国银行</a>策略师说，美国股市的实际盈利收益率已经降至杜鲁门就任总统、冷战刚刚开始以来的最低水平。</p>\n<p>Savita Subramanian牵头的策略师在周三的一份报告中写道，标普500指数目前的实际盈利收益率为-2.9%，意味着如果公司业绩不持续增长，那么投资者经通胀调整后将损失2.9%。“上次实际盈利收益率为负还是1947年。”</p>\n<p>策略师们表示，前四次实际盈利收益率为负的时候，均出现了熊市。他们建议投资者在能源、金融和房地产等抗通胀板块寻求避险。他们表示，对未来12个月通胀率将从6.2%降至2.5%的预期可能过于乐观，这代表着40年来最急速的通胀下降。</p>\n<p><a href=\"https://laohu8.com/S/BAC\">美国银行</a>一直看跌美国和欧洲股市，尽管两边主要指数最近几个月都创历史新高。在新冠病毒omicron变异株引发市场短暂下跌之后，标普500指数已经反弹并徘徊在纪录高位附近。</p>\n<p><img src=\"https://static.tigerbbs.com/9b554496205f305c148e99e907890134\" tg-width=\"550\" tg-height=\"376\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国商务部长：对欧盟数字法案的影响感到担忧</b></p>\n<p>美国商务部长雷蒙多表示，美国感到“严重关切”的是，欧盟的数字市场法案和数字服务法案会过度地影响总部在美国的科技企业及其充分服务欧盟客户、捍卫安全和隐私标准的能力。</p>\n<p>美国鼓励欧盟在推进立法程序之际，听取利益攸关方对这些法案的关切。</p>\n<p>雷蒙多以视频连线方式在美国商会的跨<a href=\"https://laohu8.com/S/600558\">大西洋</a>商业工作峰会上表示。</p>\n<p>雷蒙多指出，美国意识到，欧盟希望利用这些法案来营造公平、透明和安全的数字空间。</p>\n<p>她说，拜登政府认为敲定加强版的欧盟-美国“隐私盾”是第一要务，她仍然在积极地参与谈判。</p>\n<p><img src=\"https://static.tigerbbs.com/fb8e158634830a8680488986098a8d56\" tg-width=\"550\" tg-height=\"274\" referrerpolicy=\"no-referrer\"></p>\n<p><b>等待芯片交付的时间再度拉长 缺货现象料难改善</b></p>\n<p>芯片交付时间在11月份再次拉长，浇灭了令许多行业蒙受损失的缺货现象终见天日的希望。</p>\n<p>Susquehanna Financial Group的研究显示，备受关注的前置时间上个月比10月份增加了四天，达到约22.3周。这一等待时间创下了该公司2017年开始跟踪数据以来的最长纪录。</p>\n<p>对需要更多芯片的行业来说是这无疑是个挫折。包括苹果公司和<a href=\"https://laohu8.com/S/F\">福特汽车</a>在内的各类企业都抱怨无法满足客户对产品的需求，而同时成本也在上升。芯片交付时间增速在10月曾出现放缓，燃起了认为形势正在改善的乐观情绪。</p>\n<p>“虽然增长比最近几个月的大多数时间要短，但我们本来是希望出现明显逆转的，” Susquehanna分析师Chris Rolland在研究报告中表示。</p>\n<p><img src=\"https://static.tigerbbs.com/d37088174440cde2b2960461fa23ce07\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p>\n<p><b>英国首相恢复居家工作建议 以遏制omicron传播</b></p>\n<p>英国首相鲍里斯·约翰逊收紧防疫规定以遏制变异毒株omicron的传播，建议人们在家工作，并强制要求在大型公共场所使用“疫苗护照”。</p>\n<p>“越来越明显的是，omicron增长速度远快于德尔塔，”约翰逊在周三电视新闻发布会上宣布了英格兰地区的新防疫措施。他表示，“实施B计划是合适而负责任的做法”。</p>\n<p>即便在omicron出现前，英国单日新增新冠病例已经连续数月保持较高水平，因此有警告称这个新毒株将使医院系统不堪重负。在约翰逊宣布启动B计划前，苏格兰、威尔士和北爱尔兰已经实施了更严格的防疫限制。</p>\n<p>虽然新规远没有达到先前实施封锁时的严厉程度，但仍代表着重大调整，对约翰逊而言存在政治风险。约翰逊政府原本希望通过加快加强针的接种，避免在圣诞节期间推出新的限制措施。</p>","source":"XLCJ","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>外媒头条：小摩最新预测！明年全球经济将全面复苏</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外媒头条：小摩最新预测！明年全球经济将全面复苏\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-09 05:33 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/usstock/c/2021-12-09/doc-ikyamrmy7749780.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根大通：2022年全球经济将全面复苏\n\n\n2、辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n\n\n3、美银：标普500指数实际盈利收益率处于1947年以来最低水平\n\n\n4、美国商务部长：对欧盟数字法案的影响感到担忧\n\n\n5、等待芯片交付的时间再度拉长 缺货现象料难改善\n\n\n6、英国首相恢复居家工作建议 以遏制omicron...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-12-09/doc-ikyamrmy7749780.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f874ded00c644297784368a7af94c8ae","relate_stocks":{"BK4534":"瑞士信贷持仓",".SPX":"S&P 500 Index","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4504":"桥水持仓","PFE":"辉瑞",".DJI":"道琼斯","JPM":"摩根大通","BK4207":"综合性银行",".IXIC":"NASDAQ Composite","BK4566":"资本集团","BK4550":"红杉资本持仓"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-12-09/doc-ikyamrmy7749780.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2190969538","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根大通：2022年全球经济将全面复苏\n\n\n2、辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n\n\n3、美银：标普500指数实际盈利收益率处于1947年以来最低水平\n\n\n4、美国商务部长：对欧盟数字法案的影响感到担忧\n\n\n5、等待芯片交付的时间再度拉长 缺货现象料难改善\n\n\n6、英国首相恢复居家工作建议 以遏制omicron传播\n\n\n摩根大通：2022年全球经济将全面复苏\n美国投行摩根大通周三预测，2022年将标志着新冠疫情的结束，全球经济将全面复苏。\n该行在2022年的展望报告中称，新的疫苗和疗法将引发“强劲的周期性复苏、全球流动性的回归以及消费者被压抑需求的释放”。\n摩根大通首席全球市场策略师兼全球研究联席主管Marko Kolanovic表示，该行预计，到2022年底，标普500指数将上涨近8%至5050点，新兴市场股票将飙升18%，10年期美国债收益率升至2.25%。\nKolanovic称：“我们认为，2022年将是全球全面复苏、疫情结束以及恢复到疫情爆发前正常经济和市场状况的一年。”\n\n辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n辉瑞（Pfizer）首席执行官Albert Bourla周三表示，在初步研究表明omicron变体会破坏新冠疫苗产生的保护性抗体后，人们可能需要比预期更早地接种第四针新冠疫苗。\n辉瑞和BioNTech周三上午公布了一项初步实验室研究的结果，该结果表明，第三针疫苗可有效对抗omicron变体，而最初的两剂疫苗在抵御新毒株的能力方面显著下降。然而两家公司表示，两针疫苗可能仍然可以防止因omicron引起的重症。\nBourla指出，该公司的初步研究是基于实验室创建的该变体的合成副本，需要从针对真实病毒的测试中获得更多数据。Bourla表示，真实情况的结果将更加准确，预计将在未来两周内公布。\n“当我们看到真实情况的数据时，将会确定第三剂是否能很好地抵御omicron以及持续多长时间。第二点，我认为我们需要第四剂加强针，”Bourla称。\nBourla此前预计，在第三针注射后12个月，需要注射第四针。 “对于omicron，我们需要继续观察，因为我们掌握的信息很少。我们可能需要更快，”他说。\n\n美银：标普500指数实际盈利收益率处于1947年以来最低水平\n美国银行策略师说，美国股市的实际盈利收益率已经降至杜鲁门就任总统、冷战刚刚开始以来的最低水平。\nSavita Subramanian牵头的策略师在周三的一份报告中写道，标普500指数目前的实际盈利收益率为-2.9%，意味着如果公司业绩不持续增长，那么投资者经通胀调整后将损失2.9%。“上次实际盈利收益率为负还是1947年。”\n策略师们表示，前四次实际盈利收益率为负的时候，均出现了熊市。他们建议投资者在能源、金融和房地产等抗通胀板块寻求避险。他们表示，对未来12个月通胀率将从6.2%降至2.5%的预期可能过于乐观，这代表着40年来最急速的通胀下降。\n美国银行一直看跌美国和欧洲股市，尽管两边主要指数最近几个月都创历史新高。在新冠病毒omicron变异株引发市场短暂下跌之后，标普500指数已经反弹并徘徊在纪录高位附近。\n\n美国商务部长：对欧盟数字法案的影响感到担忧\n美国商务部长雷蒙多表示，美国感到“严重关切”的是，欧盟的数字市场法案和数字服务法案会过度地影响总部在美国的科技企业及其充分服务欧盟客户、捍卫安全和隐私标准的能力。\n美国鼓励欧盟在推进立法程序之际，听取利益攸关方对这些法案的关切。\n雷蒙多以视频连线方式在美国商会的跨大西洋商业工作峰会上表示。\n雷蒙多指出，美国意识到，欧盟希望利用这些法案来营造公平、透明和安全的数字空间。\n她说，拜登政府认为敲定加强版的欧盟-美国“隐私盾”是第一要务，她仍然在积极地参与谈判。\n\n等待芯片交付的时间再度拉长 缺货现象料难改善\n芯片交付时间在11月份再次拉长，浇灭了令许多行业蒙受损失的缺货现象终见天日的希望。\nSusquehanna Financial Group的研究显示，备受关注的前置时间上个月比10月份增加了四天，达到约22.3周。这一等待时间创下了该公司2017年开始跟踪数据以来的最长纪录。\n对需要更多芯片的行业来说是这无疑是个挫折。包括苹果公司和福特汽车在内的各类企业都抱怨无法满足客户对产品的需求，而同时成本也在上升。芯片交付时间增速在10月曾出现放缓，燃起了认为形势正在改善的乐观情绪。\n“虽然增长比最近几个月的大多数时间要短，但我们本来是希望出现明显逆转的，” Susquehanna分析师Chris Rolland在研究报告中表示。\n\n英国首相恢复居家工作建议 以遏制omicron传播\n英国首相鲍里斯·约翰逊收紧防疫规定以遏制变异毒株omicron的传播，建议人们在家工作，并强制要求在大型公共场所使用“疫苗护照”。\n“越来越明显的是，omicron增长速度远快于德尔塔，”约翰逊在周三电视新闻发布会上宣布了英格兰地区的新防疫措施。他表示，“实施B计划是合适而负责任的做法”。\n即便在omicron出现前，英国单日新增新冠病例已经连续数月保持较高水平，因此有警告称这个新毒株将使医院系统不堪重负。在约翰逊宣布启动B计划前，苏格兰、威尔士和北爱尔兰已经实施了更严格的防疫限制。\n虽然新规远没有达到先前实施封锁时的严厉程度，但仍代表着重大调整，对约翰逊而言存在政治风险。约翰逊政府原本希望通过加快加强针的接种，避免在圣诞节期间推出新的限制措施。","news_type":1,"symbols_score_info":{".DJI":0.9,"JPM":0.9,".SPX":0.9,".IXIC":0.9,"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":3187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606704652,"gmtCreate":1638925428859,"gmtModify":1638925428982,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/606704652","repostId":"1126499030","repostType":2,"isVote":1,"tweetType":1,"viewCount":3292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":876176924,"gmtCreate":1637286418188,"gmtModify":1637286418188,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/876176924","repostId":"1113076388","repostType":2,"repost":{"id":"1113076388","kind":"news","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":1637279525,"share":"https://www.laohu8.com/m/news/1113076388?lang=zh_CN&edition=full","pubTime":"2021-11-19 07:52","market":"hk","language":"zh","title":"昨夜今晨：英伟达领涨科技股！苹果市值再登顶","url":"https://stock-news.laohu8.com/highlight/detail?id=1113076388","media":"老虎资讯综合","summary":"摘要：①美股周四涨跌不一，道指跌0.17%，标普500涨0.34%，纳指涨0.45%；②热门中概股周四收盘大多走低，哔哩哔哩跌超17%，阿里巴巴跌超11%；③周四黄金期货收跌0.5%。\n\n海外市场\n1","content":"<blockquote>\n 摘要：①美股周四涨跌不一，道指跌0.17%，标普500涨0.34%，纳指涨0.45%；②热门中概股周四收盘大多走低，<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>跌超17%，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>跌超11%；③周四黄金期货收跌0.5%。\n</blockquote>\n<p>海外市场</p>\n<p>1、纳指涨0.45%！<a href=\"https://laohu8.com/S/AAPL\">苹果</a>重回全球市值第一</p>\n<p>美股三大指数收盘涨跌不一，道指跌0.17%，标普500指数涨0.34%，纳指涨0.45%。</p>\n<p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>涨超8%创历史新高。消息称苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。苹果股价收涨2.85%至每股157.87美元，市值达到25900亿美元，重回全球第一的宝座。</p>\n<p>公布财报的个股中，英伟达收涨逾8%，创收盘新高；梅西百货（M）收涨逾21%；Kohl’s（KSS）涨超10%；三季度收入和利润均优于预期的BJ’s Wholesale（BJ）涨近20%；三季度营收高于预期的Bath and Body Works（BBWI）涨超5%；季度营业利润高于预期的维多利亚的秘密（VSCO）涨14.8%；思科收跌5.5%，领跌道指成份股；虽然季度收入高于预期但毛利同比下降的Petco（WOOF）跌超13%。</p>\n<p>2、热门中概股周四收盘大多走低 哔哩哔哩跌超17%</p>\n<p>热门中概股重挫，<a href=\"https://laohu8.com/S/VIPS\">唯品会</a>、哔哩哔哩跌超17%，阿里巴巴跌超11%，<a href=\"https://laohu8.com/S/GOTU\">高途</a>跌超6%，<a href=\"https://laohu8.com/S/EDU\">新东方</a>、<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>、<a href=\"https://laohu8.com/S/PDD\">拼多多</a>跌超5%，<a href=\"https://laohu8.com/S/BIDU\">百度</a>跌超4%。</p>\n<p>新能源汽车股中，<a href=\"https://laohu8.com/S/LI\">理想汽车</a>、<a href=\"https://laohu8.com/S/NIO\">蔚来</a>汽车跌超3%，<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>跌超2%。</p>\n<p>3、欧股主要指数全线收跌 <a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数跌0.49%</p>\n<p>周四欧股收盘主要指数普跌，德国DAX指数跌0.1%，法国CAC40指数跌0.21%，英国<a href=\"https://laohu8.com/S/.100.UK\">富时100指数</a>跌0.47%，欧洲斯托克50指数跌0.32%。</p>\n<p>4、周四美国WTI原油期货收高0.8% 布伦特原油收高1.2%</p>\n<p>拜登政府要求印度和日本等亚洲国家释放战略原油储备，以协调努力压低原油价格。但最终，纽约商品交易所12月交割的西德州中质原油(WTI)期货价格上涨65美分，涨幅0.8%，收于每桶79.01美元，盘中最低为77.08美元。12月WTI期货将在周五收盘后到期。</p>\n<p>作为全球原油价格基准的<a href=\"https://laohu8.com/S/ICE\">洲际交易所</a>1月布伦特原油期货价格上涨96美分，涨幅1.2%，收于每桶81.24美元。</p>\n<p>5、周四黄金期货收跌0.5%</p>\n<p>有分析师表示：“过去几周黄金价格一直在连续上涨，交易者获利了结是很自然的。”</p>\n<p>最终，纽约商品交易所12月交割的黄金期货价格下跌8.80美元，跌幅0.5%，收于每盎司1861.40美元。周三黄金期货价格上涨0.9%，创6月11日以来的最高收盘价。</p>\n<p>国际宏观</p>\n<p>1、美国上周初请失业金人数为26.8万人 连续6周减少后首次增加</p>\n<p>美国劳工部周四公布的数据显示，美国至11月13日当周初请失业金人数为26.8万人，为连续6周减少后首次增加。前值为26.7万人，预期26万人。</p>\n<p>美国至11月6日当周续请失业金人数为208万人，前值为216万人，预期212万人。这也是2020年3月14日以来疫情时期的最低水平。</p>\n<p>2、美联储埃文斯：加息时间取决于通胀</p>\n<p>芝加哥联储主席埃文斯称，9月份美联储的经济预测有点过时。明年可能开始加息，加息也可能在2023年开始，这将取决于通货膨胀。他认为，认为2022年加息的必要性并不明显，但这可能是合适的情况。</p>\n<p>3、美学者呼吁美联储加快缩减购债以应对通胀</p>\n<p>美国哈佛大学教授、白宫经济顾问委员会前主席贾森·弗曼17日呼吁美联储加快缩减资产购买规模的速度，到明年3月提前结束资产购买计划，以应对美国高通胀压力。</p>\n<p>4、美国通胀大潮波及网上购物 曾经的折扣天堂也难以幸免</p>\n<p>随着美国经济从疫情中复苏，曾经是折扣和便宜商品天堂的电子商务却已成为稳定的通胀来源。</p>\n<p>根据软件公司<a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Inc.的数据，10月在线物价同比上涨1.9%，环比上涨0.9%。这是Adobe数字物价指数连续第17个月上涨，此前则连跌超过六年。</p>\n<p>5、比尔·盖茨：明年新冠肺炎死亡率和感染率将低于流感</p>\n<p>据报道，<a href=\"https://laohu8.com/S/MSFT\">微软</a>联合创始人比尔·盖茨称，在不出现新变种的前提下，到明年年中，新冠肺炎导致的死亡率和感染率可能会降至低于流感的水平。</p>\n<p>6、土耳其央行降息100个基点，将评估在12月结束降息</p>\n<p>土耳其央行如期将基准回购利率下调100个基点至15%，同时称将评估在12月结束降息。周四美元兑土耳其里拉一度触及11关口，续刷历史新高。土耳其里拉一个月隐含波动率达28.5%，为4月初央行降息以来最高水平。</p>\n<p>公司新闻</p>\n<p>1、苹果据称在汽车上取得重大突破 研发重点瞄向全自动驾驶</p>\n<p>知情人士告诉彭博社，科技巨头苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。截止收盘，苹果公司股价涨2.85%至每股157.85美元，市值达到2.59万亿美元，重回全球第一的宝座。</p>\n<p>2、<a href=\"https://laohu8.com/NW/2184891245\" target=\"_blank\">最靠谱的电动车都有谁？权威的消费者报告来了</a></p>\n<p>电动车市场的浪潮真是一浪接一浪。先是市场为<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>市值超千亿疯狂，又有马斯克抛售特斯拉瞬间将其在11月4日所创历史高位回落21.3%，市值跌破1万亿美元；然后又有电动皮卡“特斯拉后浪”Rivian迎来重磅IPO，市值相继超越福特、通用和大众，一举成为世界第三大汽车制造商之后遭遇投资者获利了结，连续两日狂跌回吐此前连续涨幅。</p>\n<p>3、<a href=\"https://laohu8.com/NW/1167206707\" target=\"_blank\">阿里巴巴第二季度营收2006.9亿元 同比增长29%</a></p>\n<p>11月18日，阿里巴巴集团发布2022财年第二季度财报。财报显示，阿里巴巴第二季度营收2006.9亿元，同比增长29%，第二季度调整后净利润285.2亿元，同比下降39%。</p>\n<p>4、<a href=\"https://laohu8.com/NW/1133950613\" target=\"_blank\">京东第三季度营收2187亿元 同比增长25.5%</a></p>\n<p>11月18日，京东集团发布了2021年第三季度业绩。第三季度净收入为2187亿元，同比增长25.5%。</p>\n<p>5、<a href=\"https://laohu8.com/NW/2184454865\" target=\"_blank\">马斯克：SpaceX有望在2022年1月进行星际飞船首次轨道试飞</a></p>\n<p>11月18日消息，当地时间周三，美国太空探索技术公司SpaceX首席执行官埃隆·马斯克(Elon Musk)表示，该公司有望于2022年1月份对其星际飞船原型进行首次轨道飞行测试，具体情况取决于测试和监管部门的批准。</p>\n<p>6、<a href=\"https://laohu8.com/NW/2184894209\" target=\"_blank\">沙拉连锁店Sweetgreen上市首日暴涨76%！市值达53亿美元</a></p>\n<p>美东时间11月18日周四，美国健康快餐连锁店SweetGreen（NYSE: SG）美国IPO首日开盘上涨逾85.7%，报52.00美元，此前给出的IPO发行价为每股28.00美元，高于其市场宣传的每股23至25美元的范围。据悉，Sweetgreen本次IPO出售了1300万股，筹集了3.64亿美元。</p>\n<p>7、<a href=\"https://laohu8.com/NW/2184894537\" target=\"_blank\">家族继续掌权！普拉达CEO称将在三年内让儿子接班</a></p>\n<p><a href=\"https://laohu8.com/S/01913\">普拉达</a>首席执行官Patrizio Bertelli计划在未来三年内让他的儿子Lorenzo掌管这家意大利时尚公司。<b>接班计划表明普拉达打算让公司的控制权握在家族手中。</b></p>\n<p>8、<a href=\"https://laohu8.com/NW/2184899599\" target=\"_blank\">英伟达收购Arm再遇新阻力：美国监管也插手了</a></p>\n<p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>收购Arm再遇新阻力，美国监管机构对这项交易提出了潜在的反对意见。英伟达周三美股盘后公布财报时，披露了这一交易新障碍，<b>称美国联邦贸易委员会（FTC）已经“表达了对英伟达与Arm交易的担忧”，英伟达称其正在与FTC讨论，采取措施解除FTC的顾虑。英伟达没有透露是什么引发了美国监管的反对，或者它提供了哪些让步。</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>昨夜今晨：英伟达领涨科技股！苹果市值再登顶</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昨夜今晨：英伟达领涨科技股！苹果市值再登顶\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\">2021-11-19 07:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n 摘要：①美股周四涨跌不一，道指跌0.17%，标普500涨0.34%，纳指涨0.45%；②热门中概股周四收盘大多走低，<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>跌超17%，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>跌超11%；③周四黄金期货收跌0.5%。\n</blockquote>\n<p>海外市场</p>\n<p>1、纳指涨0.45%！<a href=\"https://laohu8.com/S/AAPL\">苹果</a>重回全球市值第一</p>\n<p>美股三大指数收盘涨跌不一，道指跌0.17%，标普500指数涨0.34%，纳指涨0.45%。</p>\n<p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>涨超8%创历史新高。消息称苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。苹果股价收涨2.85%至每股157.87美元，市值达到25900亿美元，重回全球第一的宝座。</p>\n<p>公布财报的个股中，英伟达收涨逾8%，创收盘新高；梅西百货（M）收涨逾21%；Kohl’s（KSS）涨超10%；三季度收入和利润均优于预期的BJ’s Wholesale（BJ）涨近20%；三季度营收高于预期的Bath and Body Works（BBWI）涨超5%；季度营业利润高于预期的维多利亚的秘密（VSCO）涨14.8%；思科收跌5.5%，领跌道指成份股；虽然季度收入高于预期但毛利同比下降的Petco（WOOF）跌超13%。</p>\n<p>2、热门中概股周四收盘大多走低 哔哩哔哩跌超17%</p>\n<p>热门中概股重挫，<a href=\"https://laohu8.com/S/VIPS\">唯品会</a>、哔哩哔哩跌超17%，阿里巴巴跌超11%，<a href=\"https://laohu8.com/S/GOTU\">高途</a>跌超6%，<a href=\"https://laohu8.com/S/EDU\">新东方</a>、<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>、<a href=\"https://laohu8.com/S/PDD\">拼多多</a>跌超5%，<a href=\"https://laohu8.com/S/BIDU\">百度</a>跌超4%。</p>\n<p>新能源汽车股中，<a href=\"https://laohu8.com/S/LI\">理想汽车</a>、<a href=\"https://laohu8.com/S/NIO\">蔚来</a>汽车跌超3%，<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>跌超2%。</p>\n<p>3、欧股主要指数全线收跌 <a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数跌0.49%</p>\n<p>周四欧股收盘主要指数普跌，德国DAX指数跌0.1%，法国CAC40指数跌0.21%，英国<a href=\"https://laohu8.com/S/.100.UK\">富时100指数</a>跌0.47%，欧洲斯托克50指数跌0.32%。</p>\n<p>4、周四美国WTI原油期货收高0.8% 布伦特原油收高1.2%</p>\n<p>拜登政府要求印度和日本等亚洲国家释放战略原油储备，以协调努力压低原油价格。但最终，纽约商品交易所12月交割的西德州中质原油(WTI)期货价格上涨65美分，涨幅0.8%，收于每桶79.01美元，盘中最低为77.08美元。12月WTI期货将在周五收盘后到期。</p>\n<p>作为全球原油价格基准的<a href=\"https://laohu8.com/S/ICE\">洲际交易所</a>1月布伦特原油期货价格上涨96美分，涨幅1.2%，收于每桶81.24美元。</p>\n<p>5、周四黄金期货收跌0.5%</p>\n<p>有分析师表示：“过去几周黄金价格一直在连续上涨，交易者获利了结是很自然的。”</p>\n<p>最终，纽约商品交易所12月交割的黄金期货价格下跌8.80美元，跌幅0.5%，收于每盎司1861.40美元。周三黄金期货价格上涨0.9%，创6月11日以来的最高收盘价。</p>\n<p>国际宏观</p>\n<p>1、美国上周初请失业金人数为26.8万人 连续6周减少后首次增加</p>\n<p>美国劳工部周四公布的数据显示，美国至11月13日当周初请失业金人数为26.8万人，为连续6周减少后首次增加。前值为26.7万人，预期26万人。</p>\n<p>美国至11月6日当周续请失业金人数为208万人，前值为216万人，预期212万人。这也是2020年3月14日以来疫情时期的最低水平。</p>\n<p>2、美联储埃文斯：加息时间取决于通胀</p>\n<p>芝加哥联储主席埃文斯称，9月份美联储的经济预测有点过时。明年可能开始加息，加息也可能在2023年开始，这将取决于通货膨胀。他认为，认为2022年加息的必要性并不明显，但这可能是合适的情况。</p>\n<p>3、美学者呼吁美联储加快缩减购债以应对通胀</p>\n<p>美国哈佛大学教授、白宫经济顾问委员会前主席贾森·弗曼17日呼吁美联储加快缩减资产购买规模的速度，到明年3月提前结束资产购买计划，以应对美国高通胀压力。</p>\n<p>4、美国通胀大潮波及网上购物 曾经的折扣天堂也难以幸免</p>\n<p>随着美国经济从疫情中复苏，曾经是折扣和便宜商品天堂的电子商务却已成为稳定的通胀来源。</p>\n<p>根据软件公司<a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Inc.的数据，10月在线物价同比上涨1.9%，环比上涨0.9%。这是Adobe数字物价指数连续第17个月上涨，此前则连跌超过六年。</p>\n<p>5、比尔·盖茨：明年新冠肺炎死亡率和感染率将低于流感</p>\n<p>据报道，<a href=\"https://laohu8.com/S/MSFT\">微软</a>联合创始人比尔·盖茨称，在不出现新变种的前提下，到明年年中，新冠肺炎导致的死亡率和感染率可能会降至低于流感的水平。</p>\n<p>6、土耳其央行降息100个基点，将评估在12月结束降息</p>\n<p>土耳其央行如期将基准回购利率下调100个基点至15%，同时称将评估在12月结束降息。周四美元兑土耳其里拉一度触及11关口，续刷历史新高。土耳其里拉一个月隐含波动率达28.5%，为4月初央行降息以来最高水平。</p>\n<p>公司新闻</p>\n<p>1、苹果据称在汽车上取得重大突破 研发重点瞄向全自动驾驶</p>\n<p>知情人士告诉彭博社，科技巨头苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。截止收盘，苹果公司股价涨2.85%至每股157.85美元，市值达到2.59万亿美元，重回全球第一的宝座。</p>\n<p>2、<a href=\"https://laohu8.com/NW/2184891245\" target=\"_blank\">最靠谱的电动车都有谁？权威的消费者报告来了</a></p>\n<p>电动车市场的浪潮真是一浪接一浪。先是市场为<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>市值超千亿疯狂，又有马斯克抛售特斯拉瞬间将其在11月4日所创历史高位回落21.3%，市值跌破1万亿美元；然后又有电动皮卡“特斯拉后浪”Rivian迎来重磅IPO，市值相继超越福特、通用和大众，一举成为世界第三大汽车制造商之后遭遇投资者获利了结，连续两日狂跌回吐此前连续涨幅。</p>\n<p>3、<a href=\"https://laohu8.com/NW/1167206707\" target=\"_blank\">阿里巴巴第二季度营收2006.9亿元 同比增长29%</a></p>\n<p>11月18日，阿里巴巴集团发布2022财年第二季度财报。财报显示，阿里巴巴第二季度营收2006.9亿元，同比增长29%，第二季度调整后净利润285.2亿元，同比下降39%。</p>\n<p>4、<a href=\"https://laohu8.com/NW/1133950613\" target=\"_blank\">京东第三季度营收2187亿元 同比增长25.5%</a></p>\n<p>11月18日，京东集团发布了2021年第三季度业绩。第三季度净收入为2187亿元，同比增长25.5%。</p>\n<p>5、<a href=\"https://laohu8.com/NW/2184454865\" target=\"_blank\">马斯克：SpaceX有望在2022年1月进行星际飞船首次轨道试飞</a></p>\n<p>11月18日消息，当地时间周三，美国太空探索技术公司SpaceX首席执行官埃隆·马斯克(Elon Musk)表示，该公司有望于2022年1月份对其星际飞船原型进行首次轨道飞行测试，具体情况取决于测试和监管部门的批准。</p>\n<p>6、<a href=\"https://laohu8.com/NW/2184894209\" target=\"_blank\">沙拉连锁店Sweetgreen上市首日暴涨76%！市值达53亿美元</a></p>\n<p>美东时间11月18日周四，美国健康快餐连锁店SweetGreen（NYSE: SG）美国IPO首日开盘上涨逾85.7%，报52.00美元，此前给出的IPO发行价为每股28.00美元，高于其市场宣传的每股23至25美元的范围。据悉，Sweetgreen本次IPO出售了1300万股，筹集了3.64亿美元。</p>\n<p>7、<a href=\"https://laohu8.com/NW/2184894537\" target=\"_blank\">家族继续掌权！普拉达CEO称将在三年内让儿子接班</a></p>\n<p><a href=\"https://laohu8.com/S/01913\">普拉达</a>首席执行官Patrizio Bertelli计划在未来三年内让他的儿子Lorenzo掌管这家意大利时尚公司。<b>接班计划表明普拉达打算让公司的控制权握在家族手中。</b></p>\n<p>8、<a href=\"https://laohu8.com/NW/2184899599\" target=\"_blank\">英伟达收购Arm再遇新阻力：美国监管也插手了</a></p>\n<p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>收购Arm再遇新阻力，美国监管机构对这项交易提出了潜在的反对意见。英伟达周三美股盘后公布财报时，披露了这一交易新障碍，<b>称美国联邦贸易委员会（FTC）已经“表达了对英伟达与Arm交易的担忧”，英伟达称其正在与FTC讨论，采取措施解除FTC的顾虑。英伟达没有透露是什么引发了美国监管的反对，或者它提供了哪些让步。</b></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"159934":"黄金ETF","518880":"黄金ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","NUGT":"二倍做多黄金矿业指数ETF-Direxion","GLD":"黄金ETF-SPDR","GDX":"黄金矿业ETF-VanEck","TTTN":"老虎中美互联网巨头ETF","DUST":"二倍做空黄金矿业指数ETF-Direxion","QNETCN":"纳斯达克中美互联网老虎指数",".DJI":"道琼斯","IAU":"黄金信托ETF-iShares"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113076388","content_text":"摘要：①美股周四涨跌不一，道指跌0.17%，标普500涨0.34%，纳指涨0.45%；②热门中概股周四收盘大多走低，哔哩哔哩跌超17%，阿里巴巴跌超11%；③周四黄金期货收跌0.5%。\n\n海外市场\n1、纳指涨0.45%！苹果重回全球市值第一\n美股三大指数收盘涨跌不一，道指跌0.17%，标普500指数涨0.34%，纳指涨0.45%。\n英伟达涨超8%创历史新高。消息称苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。苹果股价收涨2.85%至每股157.87美元，市值达到25900亿美元，重回全球第一的宝座。\n公布财报的个股中，英伟达收涨逾8%，创收盘新高；梅西百货（M）收涨逾21%；Kohl’s（KSS）涨超10%；三季度收入和利润均优于预期的BJ’s Wholesale（BJ）涨近20%；三季度营收高于预期的Bath and Body Works（BBWI）涨超5%；季度营业利润高于预期的维多利亚的秘密（VSCO）涨14.8%；思科收跌5.5%，领跌道指成份股；虽然季度收入高于预期但毛利同比下降的Petco（WOOF）跌超13%。\n2、热门中概股周四收盘大多走低 哔哩哔哩跌超17%\n热门中概股重挫，唯品会、哔哩哔哩跌超17%，阿里巴巴跌超11%，高途跌超6%，新东方、虎牙、拼多多跌超5%，百度跌超4%。\n新能源汽车股中，理想汽车、蔚来汽车跌超3%，小鹏汽车跌超2%。\n3、欧股主要指数全线收跌 英国富时100指数跌0.49%\n周四欧股收盘主要指数普跌，德国DAX指数跌0.1%，法国CAC40指数跌0.21%，英国富时100指数跌0.47%，欧洲斯托克50指数跌0.32%。\n4、周四美国WTI原油期货收高0.8% 布伦特原油收高1.2%\n拜登政府要求印度和日本等亚洲国家释放战略原油储备，以协调努力压低原油价格。但最终，纽约商品交易所12月交割的西德州中质原油(WTI)期货价格上涨65美分，涨幅0.8%，收于每桶79.01美元，盘中最低为77.08美元。12月WTI期货将在周五收盘后到期。\n作为全球原油价格基准的洲际交易所1月布伦特原油期货价格上涨96美分，涨幅1.2%，收于每桶81.24美元。\n5、周四黄金期货收跌0.5%\n有分析师表示：“过去几周黄金价格一直在连续上涨，交易者获利了结是很自然的。”\n最终，纽约商品交易所12月交割的黄金期货价格下跌8.80美元，跌幅0.5%，收于每盎司1861.40美元。周三黄金期货价格上涨0.9%，创6月11日以来的最高收盘价。\n国际宏观\n1、美国上周初请失业金人数为26.8万人 连续6周减少后首次增加\n美国劳工部周四公布的数据显示，美国至11月13日当周初请失业金人数为26.8万人，为连续6周减少后首次增加。前值为26.7万人，预期26万人。\n美国至11月6日当周续请失业金人数为208万人，前值为216万人，预期212万人。这也是2020年3月14日以来疫情时期的最低水平。\n2、美联储埃文斯：加息时间取决于通胀\n芝加哥联储主席埃文斯称，9月份美联储的经济预测有点过时。明年可能开始加息，加息也可能在2023年开始，这将取决于通货膨胀。他认为，认为2022年加息的必要性并不明显，但这可能是合适的情况。\n3、美学者呼吁美联储加快缩减购债以应对通胀\n美国哈佛大学教授、白宫经济顾问委员会前主席贾森·弗曼17日呼吁美联储加快缩减资产购买规模的速度，到明年3月提前结束资产购买计划，以应对美国高通胀压力。\n4、美国通胀大潮波及网上购物 曾经的折扣天堂也难以幸免\n随着美国经济从疫情中复苏，曾经是折扣和便宜商品天堂的电子商务却已成为稳定的通胀来源。\n根据软件公司Adobe Inc.的数据，10月在线物价同比上涨1.9%，环比上涨0.9%。这是Adobe数字物价指数连续第17个月上涨，此前则连跌超过六年。\n5、比尔·盖茨：明年新冠肺炎死亡率和感染率将低于流感\n据报道，微软联合创始人比尔·盖茨称，在不出现新变种的前提下，到明年年中，新冠肺炎导致的死亡率和感染率可能会降至低于流感的水平。\n6、土耳其央行降息100个基点，将评估在12月结束降息\n土耳其央行如期将基准回购利率下调100个基点至15%，同时称将评估在12月结束降息。周四美元兑土耳其里拉一度触及11关口，续刷历史新高。土耳其里拉一个月隐含波动率达28.5%，为4月初央行降息以来最高水平。\n公司新闻\n1、苹果据称在汽车上取得重大突破 研发重点瞄向全自动驾驶\n知情人士告诉彭博社，科技巨头苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。截止收盘，苹果公司股价涨2.85%至每股157.85美元，市值达到2.59万亿美元，重回全球第一的宝座。\n2、最靠谱的电动车都有谁？权威的消费者报告来了\n电动车市场的浪潮真是一浪接一浪。先是市场为特斯拉市值超千亿疯狂，又有马斯克抛售特斯拉瞬间将其在11月4日所创历史高位回落21.3%，市值跌破1万亿美元；然后又有电动皮卡“特斯拉后浪”Rivian迎来重磅IPO，市值相继超越福特、通用和大众，一举成为世界第三大汽车制造商之后遭遇投资者获利了结，连续两日狂跌回吐此前连续涨幅。\n3、阿里巴巴第二季度营收2006.9亿元 同比增长29%\n11月18日，阿里巴巴集团发布2022财年第二季度财报。财报显示，阿里巴巴第二季度营收2006.9亿元，同比增长29%，第二季度调整后净利润285.2亿元，同比下降39%。\n4、京东第三季度营收2187亿元 同比增长25.5%\n11月18日，京东集团发布了2021年第三季度业绩。第三季度净收入为2187亿元，同比增长25.5%。\n5、马斯克：SpaceX有望在2022年1月进行星际飞船首次轨道试飞\n11月18日消息，当地时间周三，美国太空探索技术公司SpaceX首席执行官埃隆·马斯克(Elon Musk)表示，该公司有望于2022年1月份对其星际飞船原型进行首次轨道飞行测试，具体情况取决于测试和监管部门的批准。\n6、沙拉连锁店Sweetgreen上市首日暴涨76%！市值达53亿美元\n美东时间11月18日周四，美国健康快餐连锁店SweetGreen（NYSE: SG）美国IPO首日开盘上涨逾85.7%，报52.00美元，此前给出的IPO发行价为每股28.00美元，高于其市场宣传的每股23至25美元的范围。据悉，Sweetgreen本次IPO出售了1300万股，筹集了3.64亿美元。\n7、家族继续掌权！普拉达CEO称将在三年内让儿子接班\n普拉达首席执行官Patrizio Bertelli计划在未来三年内让他的儿子Lorenzo掌管这家意大利时尚公司。接班计划表明普拉达打算让公司的控制权握在家族手中。\n8、英伟达收购Arm再遇新阻力：美国监管也插手了\n英伟达收购Arm再遇新阻力，美国监管机构对这项交易提出了潜在的反对意见。英伟达周三美股盘后公布财报时，披露了这一交易新障碍，称美国联邦贸易委员会（FTC）已经“表达了对英伟达与Arm交易的担忧”，英伟达称其正在与FTC讨论，采取措施解除FTC的顾虑。英伟达没有透露是什么引发了美国监管的反对，或者它提供了哪些让步。","news_type":1,"symbols_score_info":{"159934":0.9,"518880":0.9,"GLD":0.9,"TTTN":0.9,".DJI":0.9,"GCmain":0.9,".IXIC":0.9,"IAU":0.9,"SGCmain":0.9,"SGUmain":0.9,".SPX":0.9,"DUST":0.9,"GDX":0.9,"QNETCN":0.9,"MGCmain":0.9,"NUGT":0.9}},"isVote":1,"tweetType":1,"viewCount":2295,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":828800692,"gmtCreate":1633877049269,"gmtModify":1633877049269,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"@tsla 升","listText":"@tsla 升","text":"@tsla 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21:13","market":"us","language":"en","title":"Lordstown Motors Is the Poster Child for Blank-Check Firms<blockquote>洛兹敦汽车公司是空白支票公司的典型代表</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1123346561","media":"InvestorPlace","summary":"RIDE stock confirms the importance of due diligence.\n\nA few months ago, I expressed some concerns ab","content":"<p><div> RIDE stock confirms the importance of due diligence.  A few months ago, I expressed some concerns about Lordstown Motors Corp. stock and suffice to say, it was not well received. Source: Postmodern ...</p><p><blockquote><div>RIDE股票证实了尽职调查的重要性。几个月前，我表达了对洛兹敦汽车公司股票的一些担忧，可以说，它并没有受到好评。来源：后现代...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","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>Lordstown Motors Is the Poster Child for Blank-Check Firms<blockquote>洛兹敦汽车公司是空白支票公司的典型代表</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLordstown Motors Is the Poster Child for Blank-Check Firms<blockquote>洛兹敦汽车公司是空白支票公司的典型代表</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-10-07 21:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> RIDE stock confirms the importance of due diligence.  A few months ago, I expressed some concerns about Lordstown Motors Corp. stock and suffice to say, it was not well received. Source: Postmodern ...</p><p><blockquote><div>RIDE股票证实了尽职调查的重要性。几个月前，我表达了对洛兹敦汽车公司股票的一些担忧，可以说，它并没有受到好评。来源：后现代...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">InvestorPlace</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123346561","content_text":"RIDE stock confirms the importance of due diligence.\n\nA few months ago, I expressed some concerns about Lordstown Motors Corp. stock and suffice to say, it was not well received.\nSource: Postmodern Studio / Shutterstock.com\nI could understand why. Even though the criticisms I received regarding my take on RIDE stock did not involve this admission, the reality is that no one likes losing money on a deal.\nHow often have we fretted over losing out on a negotiation rather than the joys that we accrued through victories in other areas. According to an NPR report, this concept has a name,loss aversion. “People care more about losing a dollar than gaining a dollar.” So, I get the anger over losing money from banking on RIDE stock.\nIf it makes anyone feel any better, I’ve put my money down on plenty of clunkers. All I can tell you is that you got to stay in the game through smart money management.\nBut there’s also another point here and that’s the value of due diligence. At the end of September, theNew York Times revealed thatHon Hai Precision Industry Co.(OTCMKTS:HNHPF) – better known as Foxconn – reached an agreement in principle to develop Lordstown’s electric vehicles. Also, it’s quite possible that the EV maker could sell its Ohio factory to Foxconn.\nAdding more woes to stakeholders of RIDE stock, Lordstown “said it would continue to use the factory to make the Endurance by leasing back space from Foxconn if the sale was completed. Foxconn would then offer employment contracts to some Lordstown manufacturing employees. Troubled companies often resort to sale-lease back deals as a way to raise cash.”\nThat’s not all. Under the terms of the agreement, “Foxconn agreed to buy $50 million worth of Lordstown shares at a price of $6.89.” At time of writing, RIDE stock closed at $5.85.\nBlank-Check Fever Was the Blessing and Curse of RIDE Stock\nWith so much attention focused on EVs in light of the massive paradigm shift from the novel coronavirus, it’s easy to forget that RIDE stock came to us via a merger with a special purpose acquisition company. Over the trailing year, SPACs have been the talk of town. But at the end of this period, this distinct manner of an initial public offering has come under scrutiny.\nFor one thing, RIDE stock isn’t an anomaly among post-merger business combinations. True, the hideousness of the losses – down 10% on Oct. 4, down 31% in the trailing five days and down 74% year-to-date – are a bit extreme, even for SPACs. However, SPACs overall have beenunderperforming benchmark indicesso far this year.\nNow, I don’t want to hit on SPACs (with an “S” in front) without providing some balanced context. One of the key benefits of these shell companies is that they open opportunities that would otherwise not be publicly available. Also, for the fullest of full disclosures, I make moneyanalyzing SPACs, so there’s that angle.\nBut the positives of blank-check firms don’t exempt one from conducting due diligence. You just got to do it, especially when you’re betting blind on pre-merger-announcement SPACs.\nBut what really struck me about RIDE stock is that it appears that at least with some SPACs, even their backers haven’t conducted a thorough examination. AnotherNew York Timesarticle describes how the scrutiny of a key architect of the SPAC that merged with Lordstown “was most likely far lessthan the inspection that a company undergoes in a conventional initial public offering.”\n“In an I.P.O., a company is held to strict reporting standards about its finances and prospects. By contrast, SPAC mergers give companies that would find it challenging to go public on their own an easier path to the public markets.”\nBe Careful Out There\nI’m not about to tell you not to buy SPACs – that would be SPAC-ist. Because let’s be real, even traditional IPOs can suffer from questionable antics. Otherwise, the filmThe Wolf of Wall Streetwouldn’t be as colorful as it was.\nBut the takeaway is that SPACs do seem to tempt the worst of behaviors from sponsors that seem to have their own interest in mind rather than the long-term viability of the deals they’re quarterbacking.\nPerhaps that’s the legacy of RIDE stock if this equity unit doesn’t make it out of this mess. Don’t be too comfortable flying with SPAC Air: there might not be anyone in the cockpit.","news_type":1,"symbols_score_info":{"RIDE":0.9}},"isVote":1,"tweetType":1,"viewCount":3674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":883022864,"gmtCreate":1631191384558,"gmtModify":1631889147546,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/883022864","repostId":"1178868825","repostType":4,"repost":{"id":"1178868825","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631189052,"share":"https://www.laohu8.com/m/news/1178868825?lang=zh_CN&edition=full","pubTime":"2021-09-09 20:04","market":"us","language":"en","title":"Toplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1178868825","media":"Tiger Newspress","summary":"U.S. stock futures fall ahead of jobless claims.\nChina’s tech stocks slid after firms including Tenc","content":"<p><ul>  <li>U.S. stock futures fall ahead of jobless claims.</li>  <li>China’s tech stocks slid after&nbsp;<b>firms including Tencent and NetEase</b>&nbsp;<b>were</b>&nbsp;<b>told&nbsp; to end their focus on profit in gaming.</b></li>  <li>GameStop sinks on lack of guidance; Lululemon soars on strong outlook.</li>  <li>Ukraine to become latest country to legalize bitcoin as it goes global</li> </ul> (Sept 9)&nbsp;Futures were pinned in the red on Thursday, pointing to a lower open for Wall Street's regular session, with investors struggling to reconcile a still hot jobs market with an economy that's seen its momentum dented by soaring COVID-19 infections.</p><p><blockquote><ul><li>美国股指期货在初请失业金人数之前下跌。</li><li>中国科技股随后下跌<b>腾讯控股和网易等公司</b> <b>是</b> <b>被告知结束对游戏利润的关注。</b></li><li>游戏驿站因缺乏指导而沉没；Lululemon因强劲的前景而飙升。</li><li>乌克兰将成为最新一个比特币走向全球合法化的国家</li></ul>（9月9日）期货周四收跌，表明华尔街常规交易开盘走低，投资者努力调和仍然火热的就业市场与因新冠肺炎感染飙升而势头减弱的经济。</blockquote></p><p> At 8:07 a.m. ET, Dow E-minis were down 4 points, or 0.01%, S&amp;P 500 E-minis fell 2.25 points, or 0.05% and Nasdaq 100 E-minis dipped 3.25 points, or 0.02%.</p><p><blockquote>美国东部时间上午8:07，道指E-minis下跌4点，跌幅0.01%，标普500 E-minis下跌2.25点，跌幅0.05%，纳斯达克100 E-minis下跌3.25点，跌幅0.02%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/13ef085786e7e3e80d4e763e0f6a298e\" tg-width=\"1231\" tg-height=\"517\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Heavyweight technology stocks including Apple, Microsoft, Alphabet, Netflix and Amazon.com Inc all fell about 0.3% each in premarket trading.&nbsp; In U.S. premarket trading, China’s tech stocks slid after&nbsp;<b>firms including Tencent and NetEase</b>&nbsp;<b>were</b>&nbsp;<b>told&nbsp; to end their focus on profit in gaming.</b>&nbsp;The selloff extended to the&nbsp;U.S. premarket hours&nbsp;when NetEase and Alibaba tumbled, underscoring the market’s continued vulnerability to policy risks. NetEase (NTES) slips 6.4% and Bilibili (BILI) falls 6.9%, while the likes of Alibaba (BABA), Pinduoduo (PDD) and Baidu (BIDU) also dropped as did Roblox, Activision Blizzard, Electronic Art and Take-Two, all down between 0.3% and 1.6%. Digital Realty, which manages technology-related properties, declined 3.6% after entering into forward sale agreements with banks for 6.25 million shares at $160.50 each.</p><p><blockquote>苹果、微软、Alphabet、Netflix和亚马逊等重量级科技股在盘前交易中均下跌约0.3%。在美国盘前交易中，中国科技股下跌<b>腾讯控股和网易等公司</b> <b>是</b> <b>被告知结束对游戏利润的关注。</b>抛售蔓延到美国。网易和阿里巴巴-SW在盘前时段暴跌，突显出市场仍然容易受到政策风险的影响。网易(NTES)下跌6.4%，哔哩哔哩(BILI)下跌6.9%，阿里巴巴-SW(BABA)、拼多多(PDD)和百度(BIDU)等公司也下跌，Roblox、动视暴雪、艺电和Take-Two跌幅均在0.3%至1.6%之间。管理科技相关物业的Digital Realty在与银行签订625万股远期销售协议后，股价下跌3.6%，每股价格为160.50美元。</blockquote></p><p> Lululemon surged 14% as analysts increased their price targets on the stock after the athletic clothing retailer boosted its outlook for the year and reported 2Q sales that outpaced expectations. The company continues to benefit from the trend toward casual and athleisure fashion, according to Jefferies. Peer Nike (NKE) rises 1.6%.</p><p><blockquote>Lululemon股价飙升14%，此前这家运动服装零售商上调了今年的前景并公布第二季度销售额超出预期，分析师上调了该股的目标价。杰富瑞表示，该公司继续受益于休闲和运动休闲时尚的趋势。同行耐克(NKE)上涨1.6%。</blockquote></p><p> <b>Here are some other notable movers this morning:</b></p><p><blockquote><b>以下是今天早上其他一些值得注意的举措：</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/CRDF\">Cardiff Oncology, Inc.</a> </b>soars 16% after the company said Wednesday that data from a colorectal cancer drug trial showed “robust objective response rate and progression free survival.”</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a> </b>declines 6.8% after reporting a second-quarter loss that was wider than Wall Street projections. It also held a very brief earnings call in which it said it wouldn’t provide guidance. Its peer among the day trader crowd, AMC Entertainment (AMC) also slips 2.7%.</li>  <li><b><a href=\"https://laohu8.com/S/HGEN\">Humanigen, Inc.</a></b> shares tumble 53% after the U.S. FDA declined its request for emergency use authorization of lenzilumab to treat newly-hospitalized Covid-19 patients.</li> </ul> <b>In Fx, </b>the dollar slipped after a three-day gain, the JPY and GBP topped the G-10 leaderboard, while EUR holds within Wednesday’s range ahead of today’s ECB meeting. The Bloomberg Dollar Spot Index inched lower and the greenback fell against most of its Group-of-10 peers even as many currencies traded in tight ranges; the Treasury curve bull- flattened modestly. The yen was the top performer among G-10 peers amid haven demand. The euro came off yesterday’s one-week low while Bunds and Italian bonds were little changed before the ECB’s meeting; the pound advanced to a day-high in the European session.</p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/CRDF\">卡迪夫肿瘤公司。</a></b>该公司周三表示，结直肠癌药物试验数据显示“强劲的客观缓解率和无进展生存率”，股价飙升16%。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a></b>第二季度亏损超出华尔街预期，股价下跌6.8%。该公司还举行了一次非常简短的收益看涨期权，其中表示不会提供指导。日内交易者中的同行AMC院线(AMC)也下跌2.7%。</li><li><b><a href=\"https://laohu8.com/S/HGEN\">Humanigen公司。</a></b>美国FDA拒绝了lenzilumab治疗新住院的Covid-19患者的紧急使用授权请求后，股价暴跌53%。</li></ul><b>在Fx中，</b>美元在连续三天上涨后下跌，日元和英镑在G-10排行榜上名列前茅，而欧元在今天的欧洲央行会议之前保持在周三的区间内。彭博美元现货指数小幅走低，美元兑大多数10国集团货币下跌，尽管许多货币窄幅波动；国债曲线小幅走平。由于避险需求，日元在10国集团同行中表现最好。欧元脱离昨日的一周低点，而德国国债和意大利债券在欧洲央行会议前几乎没有变化；英镑在欧洲时段升至日内高点。</blockquote></p><p> <b>In rates,</b> Treasuries held small gains from intermediate sector to long-end of the curve with S&amp;P 500 following declines in FTSE 100 and Euro Stoxx 50. Yields richer by ~1bp across long-end of the curve, flattening 2s10s, 5s30s spreads slightly; 10-year yields around 1.33%, outperforming gilts by almost 3bp. Curve and outright concession have faded ahead of 30-year bond reopening during U.S. afternoon, focal point of U.S. session after ECB policy decision at 7:45am ET.&nbsp; The weekly US auction cycle concludes with $24b 30-year bond sale at 1pm ET; 3- and 10-year auctions drew strong demand. WI 30-year yield at 1.947% is below auction stops since February and ~9bp richer than last month’s, which tailed the WI by 1bp. Peripheral spreads tighten a touch. Gilts bear flatten with the short end cheaper by ~2bps</p><p><blockquote><b>在费率方面，</b>在富时100指数和欧洲斯托克50指数下跌后，标普500国债从中间板块到曲线长端小幅上涨。曲线长端的收益率增加了约1bp，略微拉平了2s10s、5s30s的利差；10年期国债收益率约为1.33%，比英国国债高出近3个基点。在美国下午30年期债券重新开放之前，曲线和彻底的让步已经消退，这是欧洲央行于美国东部时间上午7:45做出政策决定后美国市场的焦点。美国每周拍卖周期以美国东部时间下午1点出售240亿美元30年期债券结束；3年期和10年期拍卖吸引了强劲需求。WI 30年期国债收益率为1.947%，低于2月份以来的拍卖止损点，比上个月高出约9个基点，上个月比WI高出1个基点。外围价差收紧一点。英国国债熊市走平，短端价格下跌约2个基点</blockquote></p><p> <b>In commodities, </b>crude futures were little changed, maintaining Asia’s narrow range. WTI drifts just above $69, Brent near $72.60. Spot gold puts in a ~$5 move to the upside to trade near $1,794/oz. Base metals are well bid with LME nickel and tin outperforming. LME copper reverses Wednesday’s drop, adding 1.4%. Bitcoin fluctuated between gains and losses, trading around $46,000.</p><p><blockquote><b>在大宗商品中，</b>原油期货变化不大，维持亚洲窄幅震荡。WTI原油略高于69美元，布伦特原油接近72.60美元。现货黄金上涨约5美元，交易价格接近1794美元/盎司。基本金属报价良好，LME镍和锡表现出色。LME期铜扭转周三跌势，上涨1.4%。比特币在涨跌之间波动，交易价格在46,000美元左右。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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to end their focus on profit in gaming.</b></li>  <li>GameStop sinks on lack of guidance; Lululemon soars on strong outlook.</li>  <li>Ukraine to become latest country to legalize bitcoin as it goes global</li> </ul> (Sept 9)&nbsp;Futures were pinned in the red on Thursday, pointing to a lower open for Wall Street's regular session, with investors struggling to reconcile a still hot jobs market with an economy that's seen its momentum dented by soaring COVID-19 infections.</p><p><blockquote><ul><li>美国股指期货在初请失业金人数之前下跌。</li><li>中国科技股随后下跌<b>腾讯控股和网易等公司</b> <b>是</b> <b>被告知结束对游戏利润的关注。</b></li><li>游戏驿站因缺乏指导而沉没；Lululemon因强劲的前景而飙升。</li><li>乌克兰将成为最新一个比特币走向全球合法化的国家</li></ul>（9月9日）期货周四收跌，表明华尔街常规交易开盘走低，投资者努力调和仍然火热的就业市场与因新冠肺炎感染飙升而势头减弱的经济。</blockquote></p><p> At 8:07 a.m. ET, Dow E-minis were down 4 points, or 0.01%, S&amp;P 500 E-minis fell 2.25 points, or 0.05% and Nasdaq 100 E-minis dipped 3.25 points, or 0.02%.</p><p><blockquote>美国东部时间上午8:07，道指E-minis下跌4点，跌幅0.01%，标普500 E-minis下跌2.25点，跌幅0.05%，纳斯达克100 E-minis下跌3.25点，跌幅0.02%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/13ef085786e7e3e80d4e763e0f6a298e\" tg-width=\"1231\" tg-height=\"517\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Heavyweight technology stocks including Apple, Microsoft, Alphabet, Netflix and Amazon.com Inc all fell about 0.3% each in premarket trading.&nbsp; In U.S. premarket trading, China’s tech stocks slid after&nbsp;<b>firms including Tencent and NetEase</b>&nbsp;<b>were</b>&nbsp;<b>told&nbsp; to end their focus on profit in gaming.</b>&nbsp;The selloff extended to the&nbsp;U.S. premarket hours&nbsp;when NetEase and Alibaba tumbled, underscoring the market’s continued vulnerability to policy risks. NetEase (NTES) slips 6.4% and Bilibili (BILI) falls 6.9%, while the likes of Alibaba (BABA), Pinduoduo (PDD) and Baidu (BIDU) also dropped as did Roblox, Activision Blizzard, Electronic Art and Take-Two, all down between 0.3% and 1.6%. Digital Realty, which manages technology-related properties, declined 3.6% after entering into forward sale agreements with banks for 6.25 million shares at $160.50 each.</p><p><blockquote>苹果、微软、Alphabet、Netflix和亚马逊等重量级科技股在盘前交易中均下跌约0.3%。在美国盘前交易中，中国科技股下跌<b>腾讯控股和网易等公司</b> <b>是</b> <b>被告知结束对游戏利润的关注。</b>抛售蔓延到美国。网易和阿里巴巴-SW在盘前时段暴跌，突显出市场仍然容易受到政策风险的影响。网易(NTES)下跌6.4%，哔哩哔哩(BILI)下跌6.9%，阿里巴巴-SW(BABA)、拼多多(PDD)和百度(BIDU)等公司也下跌，Roblox、动视暴雪、艺电和Take-Two跌幅均在0.3%至1.6%之间。管理科技相关物业的Digital Realty在与银行签订625万股远期销售协议后，股价下跌3.6%，每股价格为160.50美元。</blockquote></p><p> Lululemon surged 14% as analysts increased their price targets on the stock after the athletic clothing retailer boosted its outlook for the year and reported 2Q sales that outpaced expectations. The company continues to benefit from the trend toward casual and athleisure fashion, according to Jefferies. Peer Nike (NKE) rises 1.6%.</p><p><blockquote>Lululemon股价飙升14%，此前这家运动服装零售商上调了今年的前景并公布第二季度销售额超出预期，分析师上调了该股的目标价。杰富瑞表示，该公司继续受益于休闲和运动休闲时尚的趋势。同行耐克(NKE)上涨1.6%。</blockquote></p><p> <b>Here are some other notable movers this morning:</b></p><p><blockquote><b>以下是今天早上其他一些值得注意的举措：</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/CRDF\">Cardiff Oncology, Inc.</a> </b>soars 16% after the company said Wednesday that data from a colorectal cancer drug trial showed “robust objective response rate and progression free survival.”</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a> </b>declines 6.8% after reporting a second-quarter loss that was wider than Wall Street projections. It also held a very brief earnings call in which it said it wouldn’t provide guidance. Its peer among the day trader crowd, AMC Entertainment (AMC) also slips 2.7%.</li>  <li><b><a href=\"https://laohu8.com/S/HGEN\">Humanigen, Inc.</a></b> shares tumble 53% after the U.S. FDA declined its request for emergency use authorization of lenzilumab to treat newly-hospitalized Covid-19 patients.</li> </ul> <b>In Fx, </b>the dollar slipped after a three-day gain, the JPY and GBP topped the G-10 leaderboard, while EUR holds within Wednesday’s range ahead of today’s ECB meeting. The Bloomberg Dollar Spot Index inched lower and the greenback fell against most of its Group-of-10 peers even as many currencies traded in tight ranges; the Treasury curve bull- flattened modestly. The yen was the top performer among G-10 peers amid haven demand. The euro came off yesterday’s one-week low while Bunds and Italian bonds were little changed before the ECB’s meeting; the pound advanced to a day-high in the European session.</p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/CRDF\">卡迪夫肿瘤公司。</a></b>该公司周三表示，结直肠癌药物试验数据显示“强劲的客观缓解率和无进展生存率”，股价飙升16%。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a></b>第二季度亏损超出华尔街预期，股价下跌6.8%。该公司还举行了一次非常简短的收益看涨期权，其中表示不会提供指导。日内交易者中的同行AMC院线(AMC)也下跌2.7%。</li><li><b><a href=\"https://laohu8.com/S/HGEN\">Humanigen公司。</a></b>美国FDA拒绝了lenzilumab治疗新住院的Covid-19患者的紧急使用授权请求后，股价暴跌53%。</li></ul><b>在Fx中，</b>美元在连续三天上涨后下跌，日元和英镑在G-10排行榜上名列前茅，而欧元在今天的欧洲央行会议之前保持在周三的区间内。彭博美元现货指数小幅走低，美元兑大多数10国集团货币下跌，尽管许多货币窄幅波动；国债曲线小幅走平。由于避险需求，日元在10国集团同行中表现最好。欧元脱离昨日的一周低点，而德国国债和意大利债券在欧洲央行会议前几乎没有变化；英镑在欧洲时段升至日内高点。</blockquote></p><p> <b>In rates,</b> Treasuries held small gains from intermediate sector to long-end of the curve with S&amp;P 500 following declines in FTSE 100 and Euro Stoxx 50. Yields richer by ~1bp across long-end of the curve, flattening 2s10s, 5s30s spreads slightly; 10-year yields around 1.33%, outperforming gilts by almost 3bp. Curve and outright concession have faded ahead of 30-year bond reopening during U.S. afternoon, focal point of U.S. session after ECB policy decision at 7:45am ET.&nbsp; The weekly US auction cycle concludes with $24b 30-year bond sale at 1pm ET; 3- and 10-year auctions drew strong demand. WI 30-year yield at 1.947% is below auction stops since February and ~9bp richer than last month’s, which tailed the WI by 1bp. Peripheral spreads tighten a touch. Gilts bear flatten with the short end cheaper by ~2bps</p><p><blockquote><b>在费率方面，</b>在富时100指数和欧洲斯托克50指数下跌后，标普500国债从中间板块到曲线长端小幅上涨。曲线长端的收益率增加了约1bp，略微拉平了2s10s、5s30s的利差；10年期国债收益率约为1.33%，比英国国债高出近3个基点。在美国下午30年期债券重新开放之前，曲线和彻底的让步已经消退，这是欧洲央行于美国东部时间上午7:45做出政策决定后美国市场的焦点。美国每周拍卖周期以美国东部时间下午1点出售240亿美元30年期债券结束；3年期和10年期拍卖吸引了强劲需求。WI 30年期国债收益率为1.947%，低于2月份以来的拍卖止损点，比上个月高出约9个基点，上个月比WI高出1个基点。外围价差收紧一点。英国国债熊市走平，短端价格下跌约2个基点</blockquote></p><p> <b>In commodities, </b>crude futures were little changed, maintaining Asia’s narrow range. WTI drifts just above $69, Brent near $72.60. Spot gold puts in a ~$5 move to the upside to trade near $1,794/oz. Base metals are well bid with LME nickel and tin outperforming. LME copper reverses Wednesday’s drop, adding 1.4%. Bitcoin fluctuated between gains and losses, trading around $46,000.</p><p><blockquote><b>在大宗商品中，</b>原油期货变化不大，维持亚洲窄幅震荡。WTI原油略高于69美元，布伦特原油接近72.60美元。现货黄金上涨约5美元，交易价格接近1794美元/盎司。基本金属报价良好，LME镍和锡表现出色。LME期铜扭转周三跌势，上涨1.4%。比特币在涨跌之间波动，交易价格在46,000美元左右。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178868825","content_text":"U.S. stock futures fall ahead of jobless claims.\nChina’s tech stocks slid after firms including Tencent and NetEase were told  to end their focus on profit in gaming.\nGameStop sinks on lack of guidance; Lululemon soars on strong outlook.\nUkraine to become latest country to legalize bitcoin as it goes global\n\n(Sept 9) Futures were pinned in the red on Thursday, pointing to a lower open for Wall Street's regular session, with investors struggling to reconcile a still hot jobs market with an economy that's seen its momentum dented by soaring COVID-19 infections.\nAt 8:07 a.m. ET, Dow E-minis were down 4 points, or 0.01%, S&P 500 E-minis fell 2.25 points, or 0.05% and Nasdaq 100 E-minis dipped 3.25 points, or 0.02%.\n\nHeavyweight technology stocks including Apple, Microsoft, Alphabet, Netflix and Amazon.com Inc all fell about 0.3% each in premarket trading.  In U.S. premarket trading, China’s tech stocks slid after firms including Tencent and NetEase were told  to end their focus on profit in gaming. The selloff extended to the U.S. premarket hours when NetEase and Alibaba tumbled, underscoring the market’s continued vulnerability to policy risks. NetEase (NTES) slips 6.4% and Bilibili (BILI) falls 6.9%, while the likes of Alibaba (BABA), Pinduoduo (PDD) and Baidu (BIDU) also dropped as did Roblox, Activision Blizzard, Electronic Art and Take-Two, all down between 0.3% and 1.6%. Digital Realty, which manages technology-related properties, declined 3.6% after entering into forward sale agreements with banks for 6.25 million shares at $160.50 each.\nLululemon surged 14% as analysts increased their price targets on the stock after the athletic clothing retailer boosted its outlook for the year and reported 2Q sales that outpaced expectations. The company continues to benefit from the trend toward casual and athleisure fashion, according to Jefferies. Peer Nike (NKE) rises 1.6%.\nHere are some other notable movers this morning:\n\nCardiff Oncology, Inc. soars 16% after the company said Wednesday that data from a colorectal cancer drug trial showed “robust objective response rate and progression free survival.”\nGameStop declines 6.8% after reporting a second-quarter loss that was wider than Wall Street projections. It also held a very brief earnings call in which it said it wouldn’t provide guidance. Its peer among the day trader crowd, AMC Entertainment (AMC) also slips 2.7%.\nHumanigen, Inc. shares tumble 53% after the U.S. FDA declined its request for emergency use authorization of lenzilumab to treat newly-hospitalized Covid-19 patients.\n\nIn Fx, the dollar slipped after a three-day gain, the JPY and GBP topped the G-10 leaderboard, while EUR holds within Wednesday’s range ahead of today’s ECB meeting. The Bloomberg Dollar Spot Index inched lower and the greenback fell against most of its Group-of-10 peers even as many currencies traded in tight ranges; the Treasury curve bull- flattened modestly. The yen was the top performer among G-10 peers amid haven demand. The euro came off yesterday’s one-week low while Bunds and Italian bonds were little changed before the ECB’s meeting; the pound advanced to a day-high in the European session.\nIn rates, Treasuries held small gains from intermediate sector to long-end of the curve with S&P 500 following declines in FTSE 100 and Euro Stoxx 50. Yields richer by ~1bp across long-end of the curve, flattening 2s10s, 5s30s spreads slightly; 10-year yields around 1.33%, outperforming gilts by almost 3bp. Curve and outright concession have faded ahead of 30-year bond reopening during U.S. afternoon, focal point of U.S. session after ECB policy decision at 7:45am ET.  The weekly US auction cycle concludes with $24b 30-year bond sale at 1pm ET; 3- and 10-year auctions drew strong demand. WI 30-year yield at 1.947% is below auction stops since February and ~9bp richer than last month’s, which tailed the WI by 1bp. Peripheral spreads tighten a touch. Gilts bear flatten with the short end cheaper by ~2bps\nIn commodities, crude futures were little changed, maintaining Asia’s narrow range. WTI drifts just above $69, Brent near $72.60. Spot gold puts in a ~$5 move to the upside to trade near $1,794/oz. Base metals are well bid with LME nickel and tin outperforming. LME copper reverses Wednesday’s drop, adding 1.4%. Bitcoin fluctuated between gains and losses, trading around $46,000.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2442,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814576139,"gmtCreate":1630852456221,"gmtModify":1631889147551,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814576139","repostId":"1157895022","repostType":4,"repost":{"id":"1157895022","kind":"news","pubTimestamp":1630810619,"share":"https://www.laohu8.com/m/news/1157895022?lang=zh_CN&edition=full","pubTime":"2021-09-05 10:56","market":"us","language":"en","title":"Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157895022","media":"MarketWatch","summary":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do ","content":"<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯·霍华德(Vance Howard)的HCM战术增长基金在谨慎的情况下让您进出股市。到目前为止，他的计算机科学家团队的策略已经得到了回报。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市中收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>那是每个人的梦想，对吧？投资者万斯·霍华德认为他已经找到了。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>霍华德和他的一小队计算机程序员在佐治亚州罗斯威尔的资本管理公司工作。，有一个量化系统，张贴巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的HCM战术增长基金HCMGX,+0.35%在过去五年中的年化增长率比罗素1000基准指数和大型混合基金类别高出8.5-10.4个百分点。这不是一个小壮举，不仅因为它必须克服2.22%的费用。战胜市场并不容易。他的HCM Dividend Sector PlusHCMQX,-0.05%)和HCM Income PlusHCMLX,+0.30%基金也表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详述。（其中包括：潜在的长期表现不佳和定期的税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化分析师从不分享他们专有系统的所有细节，但正如你将看到的，霍华德分享了很多。这位德克萨斯州牧场主有很多基于“马的感觉”的好建议——考虑到他对市场富有感染力的热情，以及他三十年的职业经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12只交易所交易基金(ETF)和四只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化让我们注定要失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以便在长时间没有食物之前储存卡路里。但在市场中，对恐惧和贪婪的情绪采取行动总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们被设定为相信和人群在一起会带来安全。如果你是稀树草原上的斑马，如果你单干，你更有可能被捕食者吃掉。这里的问题是，成为人群的一部分——以及人群心理——让我们变得愚蠢到纯粹的情感层面。这就是为什么人群中的人会做他们自己永远不会做的可怕的事情。你有多聪明并不重要。当你加入一个人群时，你会失去很多智商点。基本情绪占了上风。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做得好，你必须抵制这些倾向。“个人投资者和基金经理犯的最大错误之一就是变得情绪化，”霍华德说。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：有一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>驱除情绪，要有一个系统。“不要怀疑它，”霍华德说。“这可以防止你被大流行或阿富汗吓出市场。”他评级了他的系统HCM-购买线。它基本上是一个动量和趋势跟踪系统——通常在市场上运行良好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔500SPX（-0.03%）或道琼斯工业平均指数DJIA（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌6.5%，他就再卖出35%。他很少100%现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“如果买入线为正，无论如何我们都会长期持有，”他说。“我们通过让数学来决定，将所有情感从等式中剔除。”</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多信息见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统还必须告诉你什么时候回去。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“这就是大多数人搞砸的地方，”他说。“他们退出市场，不知道什么时候才能重新进入。”当他的定制指数连续六个交易日高于其移动平均线时，HCM-买入线会发出买入信号，然后继续高于这六天触及的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个评级精确市场顶部或底部的系统。相反，买入线让霍华德在85%的时间里远离低迷的市场，在85%的好时光里远离。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“如果我们能够始终如一地做到这一点，我们就会获得更高的回报和更少的生活压力，”他说。“在一盘糟糕的磁带中全力以赴一点也不好玩。”</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定能让他出局。他经常买入那些回调。快速反弹是有意义的，因为从底部恢复往往会很快。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“HCM-BuyLine消除了整个过程中的所有情绪，”霍华德说。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要和磁带作对</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂·茨威格经典著作《在华尔街获胜》中的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“你必须站在市场的正确一边，”霍华德表示同意。“如果你试图在糟糕的市场中做多，那是很痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“有时候，不赔钱才是你想要的，”他说。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要仅仅因为市场创下新高就变得谨慎——就像现在这样。你应该喜欢新高，因为这是市场力量的标志，可能会持续下去。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第四课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德不使用衍生品、掉期或指数期权等深奥工具。他甚至不交易外国股票或货币。这对个人投资者来说令人耳目一新，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“你不必交易疯狂的东西，”他说。“你可以交易普通的ETF并击败所有人。”</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做长。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-购买线非常积极。我们100%参与，”霍华德说。“市场正在扩大。它变得相当令人兴奋。我们认为它不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有现金都在观望。“如果新冠疫情有所缓解，我们可能会看到大幅反弹。我们可能会以一个伟大的秋季[季节]结束。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德也使用动量指标来选择股票和ETF。对于行业，他倾向于以下几点。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过iShares US HealthcareIYH(-0.04%)和ProShares Ultra Health CareRXL(+0.12%)ETF进行交易。他变得更加看好生物技术，他通过iShares Biotechnology ETFIBB进行投资，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过iShares US Consumer ServicesIYC(-0.30%)进行交易的非必需消费品，以及通过US Global JetsJETS(-1.17%)进行交易的航空公司。他还喜欢通过Invesco QQQ TrustQQQ(+0.31%)、iShares US TechnologyIYW(+0.50%)进行科技投资和iShares半导体SOXX，+0.75%。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他喜欢Vanguard Small-Cap Growth Index FundVBK，+0.07%的小盘股。以及SPDR Bloomberg Barclays可转换证券CWB，+0.64%和iShares可转换债券ICVT，+0.37%的可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个人名称，他特别提到了科技股中的微软MSFT(-0.00%)和苹果AAPL(+0.42%)，以及亚马逊MAMZN(+0.43%)和特斯拉TSLA(+0.16%)。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>另请考虑Howard的两只ETF：HCM Defender 100 IndexQQH，+0.62%和HCM Defender 500 IndexLGH，+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌1%-3%时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的HCM战术增长基金自2015年推出以来，曾连续两年表现不佳，涨幅为1.5%至8.8%。随后，该基金卷土重来，实现了上述非常积极的五年优异表现。投资他的系统需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，每个经理人，包括沃伦·巴菲特，都可能有一段时间表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“我们正处于赔率游戏中，”他说。“即使在赔率游戏中，你也可能会遇到一两手糟糕的牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年140%。这意味着山姆大叔在好年景中会得到很大的提成。因此，如果您购买霍华德的基金，您可能希望在避税账户中购买。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBeat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-05 10:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯·霍华德(Vance Howard)的HCM战术增长基金在谨慎的情况下让您进出股市。到目前为止，他的计算机科学家团队的策略已经得到了回报。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市中收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>那是每个人的梦想，对吧？投资者万斯·霍华德认为他已经找到了。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>霍华德和他的一小队计算机程序员在佐治亚州罗斯威尔的资本管理公司工作。，有一个量化系统，张贴巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的HCM战术增长基金HCMGX,+0.35%在过去五年中的年化增长率比罗素1000基准指数和大型混合基金类别高出8.5-10.4个百分点。这不是一个小壮举，不仅因为它必须克服2.22%的费用。战胜市场并不容易。他的HCM Dividend Sector PlusHCMQX,-0.05%)和HCM Income PlusHCMLX,+0.30%基金也表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详述。（其中包括：潜在的长期表现不佳和定期的税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化分析师从不分享他们专有系统的所有细节，但正如你将看到的，霍华德分享了很多。这位德克萨斯州牧场主有很多基于“马的感觉”的好建议——考虑到他对市场富有感染力的热情，以及他三十年的职业经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12只交易所交易基金(ETF)和四只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化让我们注定要失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以便在长时间没有食物之前储存卡路里。但在市场中，对恐惧和贪婪的情绪采取行动总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们被设定为相信和人群在一起会带来安全。如果你是稀树草原上的斑马，如果你单干，你更有可能被捕食者吃掉。这里的问题是，成为人群的一部分——以及人群心理——让我们变得愚蠢到纯粹的情感层面。这就是为什么人群中的人会做他们自己永远不会做的可怕的事情。你有多聪明并不重要。当你加入一个人群时，你会失去很多智商点。基本情绪占了上风。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做得好，你必须抵制这些倾向。“个人投资者和基金经理犯的最大错误之一就是变得情绪化，”霍华德说。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：有一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>驱除情绪，要有一个系统。“不要怀疑它，”霍华德说。“这可以防止你被大流行或阿富汗吓出市场。”他评级了他的系统HCM-购买线。它基本上是一个动量和趋势跟踪系统——通常在市场上运行良好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔500SPX（-0.03%）或道琼斯工业平均指数DJIA（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌6.5%，他就再卖出35%。他很少100%现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“如果买入线为正，无论如何我们都会长期持有，”他说。“我们通过让数学来决定，将所有情感从等式中剔除。”</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多信息见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统还必须告诉你什么时候回去。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“这就是大多数人搞砸的地方，”他说。“他们退出市场，不知道什么时候才能重新进入。”当他的定制指数连续六个交易日高于其移动平均线时，HCM-买入线会发出买入信号，然后继续高于这六天触及的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个评级精确市场顶部或底部的系统。相反，买入线让霍华德在85%的时间里远离低迷的市场，在85%的好时光里远离。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“如果我们能够始终如一地做到这一点，我们就会获得更高的回报和更少的生活压力，”他说。“在一盘糟糕的磁带中全力以赴一点也不好玩。”</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定能让他出局。他经常买入那些回调。快速反弹是有意义的，因为从底部恢复往往会很快。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“HCM-BuyLine消除了整个过程中的所有情绪，”霍华德说。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要和磁带作对</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂·茨威格经典著作《在华尔街获胜》中的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“你必须站在市场的正确一边，”霍华德表示同意。“如果你试图在糟糕的市场中做多，那是很痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“有时候，不赔钱才是你想要的，”他说。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要仅仅因为市场创下新高就变得谨慎——就像现在这样。你应该喜欢新高，因为这是市场力量的标志，可能会持续下去。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第四课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德不使用衍生品、掉期或指数期权等深奥工具。他甚至不交易外国股票或货币。这对个人投资者来说令人耳目一新，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“你不必交易疯狂的东西，”他说。“你可以交易普通的ETF并击败所有人。”</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做长。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-购买线非常积极。我们100%参与，”霍华德说。“市场正在扩大。它变得相当令人兴奋。我们认为它不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有现金都在观望。“如果新冠疫情有所缓解，我们可能会看到大幅反弹。我们可能会以一个伟大的秋季[季节]结束。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德也使用动量指标来选择股票和ETF。对于行业，他倾向于以下几点。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过iShares US HealthcareIYH(-0.04%)和ProShares Ultra Health CareRXL(+0.12%)ETF进行交易。他变得更加看好生物技术，他通过iShares Biotechnology ETFIBB进行投资，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过iShares US Consumer ServicesIYC(-0.30%)进行交易的非必需消费品，以及通过US Global JetsJETS(-1.17%)进行交易的航空公司。他还喜欢通过Invesco QQQ TrustQQQ(+0.31%)、iShares US TechnologyIYW(+0.50%)进行科技投资和iShares半导体SOXX，+0.75%。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他喜欢Vanguard Small-Cap Growth Index FundVBK，+0.07%的小盘股。以及SPDR Bloomberg Barclays可转换证券CWB，+0.64%和iShares可转换债券ICVT，+0.37%的可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个人名称，他特别提到了科技股中的微软MSFT(-0.00%)和苹果AAPL(+0.42%)，以及亚马逊MAMZN(+0.43%)和特斯拉TSLA(+0.16%)。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>另请考虑Howard的两只ETF：HCM Defender 100 IndexQQH，+0.62%和HCM Defender 500 IndexLGH，+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌1%-3%时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的HCM战术增长基金自2015年推出以来，曾连续两年表现不佳，涨幅为1.5%至8.8%。随后，该基金卷土重来，实现了上述非常积极的五年优异表现。投资他的系统需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，每个经理人，包括沃伦·巴菲特，都可能有一段时间表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“我们正处于赔率游戏中，”他说。“即使在赔率游戏中，你也可能会遇到一两手糟糕的牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年140%。这意味着山姆大叔在好年景中会得到很大的提成。因此，如果您购买霍华德的基金，您可能希望在避税账户中购买。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157895022","content_text":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.\n\nImagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.\nThat’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.\nHoward and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.\nHis HCM Tactical Growth Fund HCMGX,+0.35%beats its Russell 1000 benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.\nThere are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?\nSo-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.\nHere are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.\nLesson #1: Don’t be emotional\nIt’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.\nLikewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.\nTo do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”\nLesson #2: Have a system and stick to it\nTo exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.\nThe HCM-BuyLine basically works like this. First, rather than use the S&P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.\nWhen the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.\n“If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”\nRight now, it’s bullish. (More on this below.)\nYour system also has to tell you when to get back in.\n“That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.\nYou don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.\n“If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”\nHis system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.\n“The HCM-BuyLine takes all the emotion out of the process,” says Howard.\nLesson #3: Don’t fight the tape\nThis concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”\n“You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”\nIn other words, don’t try to be a hero.\n“Sometimes, not losing money is where you want to be,” he says.\nLikewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.\nLesson #4: Keep it simple\nAs you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.\n“You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”\nLesson #5: How to trade the current market\nFirst, be long.\n“The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”\nOne bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”\nHoward uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.\nHe likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.\nHe likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and iShares SemiconductorSOXX,+0.75%.\nHe likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.\nAs for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.\nAlso consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.\nHe prefers to add to holdings on 1%-3% dips.\nA few drawbacks\nHis HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.\nEvery manager, including Warren Buffett, can have a stretch of underperformance, says Howard.\n“We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”\nAnother challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815496140,"gmtCreate":1630711329180,"gmtModify":1631889147555,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815496140","repostId":"2164803577","repostType":4,"isVote":1,"tweetType":1,"viewCount":2511,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815216108,"gmtCreate":1630680218504,"gmtModify":1631889147556,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815216108","repostId":"2164872049","repostType":4,"repost":{"id":"2164872049","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1630679468,"share":"https://www.laohu8.com/m/news/2164872049?lang=zh_CN&edition=full","pubTime":"2021-09-03 22:31","market":"us","language":"en","title":"Zooming In On Zoom's Solid But Not Good Enough Results<blockquote>放大Zoom可靠但不够好的结果</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2164872049","media":"Benzinga","summary":"Despite logging its first billion-dollar quarter, the stock of Zoom Video Communications (NASDAQ: ZM) fell almost 11% on Monday after the company posted a higher-than-expected earnings forecast for the full year. The revenue guidance exactly met expectations, but sales-growth rates fall to new lows.","content":"<p>Despite logging its first billion-dollar quarter, the stock of&nbsp;<b>Zoom</b>&nbsp;<b>Video Communications</b> (NASDAQ:ZM) fell almost 11% on Monday after the company posted a higher-than-expected earnings forecast for the full year. The revenue guidance exactly met expectations, but sales-growth rates fall to new lows. In simple words, the video platform has continued to grow, but not at the overly optimistic pace that analysts expected.</p><p><blockquote>尽管第一个季度的收入达到了10亿美元，但<b>Zoom</b> <b>视频通信</b>（纳斯达克：ZM）周一下跌近11%，此前该公司公布了高于预期的全年盈利预测。收入指引完全符合预期，但销售增长率跌至新低。简单来说，视频平台一直在持续增长，但没有达到分析师预期的过于乐观的速度。</blockquote></p><p> <h4>Q2 Figures</h4> For the quarter that ended on July 31st, revenue increased by 54% YoY in the quarter &nbsp;and topping $1 billion for the first time as it amounted to $1.02 billion, also exceeding Refinitiv expectations of $991.0 million as expected by analysts, according to Refinitiv. Adjusted net income came in 48% higher from the year-ago quarter, amounting to $1.36 per share, also exceeding $1.16 expected by Refinitiv. Free cash flow improved 22% as it improved to $455 million.</p><p><blockquote><h4>第二季度数据</h4>根据Refinitiv的数据，截至7月31日的季度，该季度收入同比增长54%，首次突破10亿美元，达到10.2亿美元，也超过了分析师预期的9.91亿美元。调整后净利润较去年同期增长48%，达到每股1.36美元，也超过Refinitiv预期的1.16美元。自由现金流增长22%，达到4.55亿美元。</blockquote></p><p> Gross margin improved from 72.3% in the previous quarter to 74.4%. Gross margin benefited from new data center capacity as well as lower usage during the summer, thanks in part to the school break. The Zoom Phone cloud-based phone service expanded from 1.5 million three months earlier to 2 million seats.</p><p><blockquote>毛利率从上一季度的72.3%提高至74.4%。毛利率受益于新的数据中心容量以及夏季使用率的降低，部分原因是学校放假。Zoom Phone基于云的电话服务从三个月前的150万个扩展到200万个座位。</blockquote></p><p> <h4>Outlook</h4> During the quarter, Zoom announced it will acquire cloud contact-center software provider Five9, along with the availability of Zoom Events for premium online meetings. The video communications company also invested in event software maker Cvent that sought to go public through a SPAC.</p><p><blockquote><h4>世界观</h4>本季度，Zoom宣布将收购云联络中心软件提供商Five9，并为高级在线会议提供Zoom Events。这家视频通信公司还投资了活动软件制造商Cvent，该公司寻求通过SPAC上市。</blockquote></p><p> As for the undergoing quarter, Zoom is guiding to 31% growth. Adjusted earnings per share are expected in the range between $1.07 to $1.08 with $1.015 billion to $1.020 billion in revenue.</p><p><blockquote>至于本季度，Zoom预计增长31%。调整后每股收益预计在1.07美元至1.08美元之间，营收为10.15亿美元至10.20亿美元。</blockquote></p><p> For the full fiscal year, it improved its forecast as coronavirus case counts have increased and many companies delayed plans to reopen offices. Adjusted earnings are expected to be in the range between $4.75 to $4.79 per share with the revenue range being within $4.005 billion and $4.015 billion in revenue. Previous estimates for adjusted earnings were $4.56 to $4.61 and $3.98 billion to $3.99 billion for revenue.</p><p><blockquote>对于整个财年，由于冠状病毒病例数增加以及许多公司推迟了重新开放办事处的计划，该公司提高了预测。预计调整后每股收益在4.75美元至4.79美元之间，营收在40.05亿美元至40.15亿美元之间。此前对调整后收益的预期为4.56美元至4.61美元，营收为39.8亿美元至39.9亿美元。</blockquote></p><p> The forecast is ahead of analysts' consensus estimates for both adjusted earnings per share and revenue, being $4.67 and $4.01 billion, respectively.</p><p><blockquote>该预测高于分析师对调整后每股收益和营收的普遍预期，分别为4.67美元和40.1亿美元。</blockquote></p><p> The guidance assumes strong growth for the direct and channel businesses, but also a weakness in the online business because of challenges encountered by smaller customers and consumers. Gross margin is expected to expand with students resuming classes.</p><p><blockquote>该指南假设直销和渠道业务将强劲增长，但由于小客户和消费者遇到的挑战，在线业务也将疲软。随着学生复课，毛利率预计将扩大。</blockquote></p><p> <h4>The Verdict</h4> By most standards,&nbsp;Zoom's business metrics look solid with 2,278 customers contributing $100,000 or more to its annual revenue. This is well over double its last year's big-client count. Customers with more than 10 employees vaulted over the half-million mark, up 36% YoY. On a trailing 12-month basis, net dollar expansion rates remained above 130%. But its results just weren't good enough for Wall Street who was not pleased to see the company calling for roughly flat third-quarter revenue compared to the second quarter.</p><p><blockquote><h4>判决</h4>按照大多数标准，Zoom的业务指标看起来很稳健，有2,278名客户为其年收入贡献了10万美元或更多。这是去年大客户数量的两倍多。拥有10名以上员工的客户突破50万大关，同比增长36%。在过去12个月的基础上，美元净增长率保持在130%以上。但对于华尔街来说，其业绩还不够好，华尔街不高兴看到该公司要求第三季度收入与第二季度大致持平。</blockquote></p><p> <i>This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com</i></p><p><blockquote><i>本文不是新闻稿，由IAMNewswire的经过验证的独立记者撰写。在任何时候都不应将其解释为投资建议，请阅读完整的披露。IAM Newswire在上述公司中没有任何职位。新闻稿-如果您正在寻找完整的新闻稿分发，请联系：press@iamnewswire.com贡献者-IAM Newswire接受推介。如果您有兴趣成为IAM记者，请联系：contributors@iamnewswire.com</i></blockquote></p><p> The post Zooming in on Zoom's Solid But Not Good Enough Results appeared first on IAM Newswire.</p><p><blockquote>放大Zoom稳健但不够好的结果的帖子首先出现在IAM新闻专线上。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zooming In On Zoom's Solid But Not Good Enough Results<blockquote>放大Zoom可靠但不够好的结果</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZooming In On Zoom's Solid But Not Good Enough Results<blockquote>放大Zoom可靠但不够好的结果</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-09-03 22:31</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Despite logging its first billion-dollar quarter, the stock of&nbsp;<b>Zoom</b>&nbsp;<b>Video Communications</b> (NASDAQ:ZM) fell almost 11% on Monday after the company posted a higher-than-expected earnings forecast for the full year. The revenue guidance exactly met expectations, but sales-growth rates fall to new lows. In simple words, the video platform has continued to grow, but not at the overly optimistic pace that analysts expected.</p><p><blockquote>尽管第一个季度的收入达到了10亿美元，但<b>Zoom</b> <b>视频通信</b>（纳斯达克：ZM）周一下跌近11%，此前该公司公布了高于预期的全年盈利预测。收入指引完全符合预期，但销售增长率跌至新低。简单来说，视频平台一直在持续增长，但没有达到分析师预期的过于乐观的速度。</blockquote></p><p> <h4>Q2 Figures</h4> For the quarter that ended on July 31st, revenue increased by 54% YoY in the quarter &nbsp;and topping $1 billion for the first time as it amounted to $1.02 billion, also exceeding Refinitiv expectations of $991.0 million as expected by analysts, according to Refinitiv. Adjusted net income came in 48% higher from the year-ago quarter, amounting to $1.36 per share, also exceeding $1.16 expected by Refinitiv. Free cash flow improved 22% as it improved to $455 million.</p><p><blockquote><h4>第二季度数据</h4>根据Refinitiv的数据，截至7月31日的季度，该季度收入同比增长54%，首次突破10亿美元，达到10.2亿美元，也超过了分析师预期的9.91亿美元。调整后净利润较去年同期增长48%，达到每股1.36美元，也超过Refinitiv预期的1.16美元。自由现金流增长22%，达到4.55亿美元。</blockquote></p><p> Gross margin improved from 72.3% in the previous quarter to 74.4%. Gross margin benefited from new data center capacity as well as lower usage during the summer, thanks in part to the school break. The Zoom Phone cloud-based phone service expanded from 1.5 million three months earlier to 2 million seats.</p><p><blockquote>毛利率从上一季度的72.3%提高至74.4%。毛利率受益于新的数据中心容量以及夏季使用率的降低，部分原因是学校放假。Zoom Phone基于云的电话服务从三个月前的150万个扩展到200万个座位。</blockquote></p><p> <h4>Outlook</h4> During the quarter, Zoom announced it will acquire cloud contact-center software provider Five9, along with the availability of Zoom Events for premium online meetings. The video communications company also invested in event software maker Cvent that sought to go public through a SPAC.</p><p><blockquote><h4>世界观</h4>本季度，Zoom宣布将收购云联络中心软件提供商Five9，并为高级在线会议提供Zoom Events。这家视频通信公司还投资了活动软件制造商Cvent，该公司寻求通过SPAC上市。</blockquote></p><p> As for the undergoing quarter, Zoom is guiding to 31% growth. Adjusted earnings per share are expected in the range between $1.07 to $1.08 with $1.015 billion to $1.020 billion in revenue.</p><p><blockquote>至于本季度，Zoom预计增长31%。调整后每股收益预计在1.07美元至1.08美元之间，营收为10.15亿美元至10.20亿美元。</blockquote></p><p> For the full fiscal year, it improved its forecast as coronavirus case counts have increased and many companies delayed plans to reopen offices. Adjusted earnings are expected to be in the range between $4.75 to $4.79 per share with the revenue range being within $4.005 billion and $4.015 billion in revenue. Previous estimates for adjusted earnings were $4.56 to $4.61 and $3.98 billion to $3.99 billion for revenue.</p><p><blockquote>对于整个财年，由于冠状病毒病例数增加以及许多公司推迟了重新开放办事处的计划，该公司提高了预测。预计调整后每股收益在4.75美元至4.79美元之间，营收在40.05亿美元至40.15亿美元之间。此前对调整后收益的预期为4.56美元至4.61美元，营收为39.8亿美元至39.9亿美元。</blockquote></p><p> The forecast is ahead of analysts' consensus estimates for both adjusted earnings per share and revenue, being $4.67 and $4.01 billion, respectively.</p><p><blockquote>该预测高于分析师对调整后每股收益和营收的普遍预期，分别为4.67美元和40.1亿美元。</blockquote></p><p> The guidance assumes strong growth for the direct and channel businesses, but also a weakness in the online business because of challenges encountered by smaller customers and consumers. Gross margin is expected to expand with students resuming classes.</p><p><blockquote>该指南假设直销和渠道业务将强劲增长，但由于小客户和消费者遇到的挑战，在线业务也将疲软。随着学生复课，毛利率预计将扩大。</blockquote></p><p> <h4>The Verdict</h4> By most standards,&nbsp;Zoom's business metrics look solid with 2,278 customers contributing $100,000 or more to its annual revenue. This is well over double its last year's big-client count. Customers with more than 10 employees vaulted over the half-million mark, up 36% YoY. On a trailing 12-month basis, net dollar expansion rates remained above 130%. But its results just weren't good enough for Wall Street who was not pleased to see the company calling for roughly flat third-quarter revenue compared to the second quarter.</p><p><blockquote><h4>判决</h4>按照大多数标准，Zoom的业务指标看起来很稳健，有2,278名客户为其年收入贡献了10万美元或更多。这是去年大客户数量的两倍多。拥有10名以上员工的客户突破50万大关，同比增长36%。在过去12个月的基础上，美元净增长率保持在130%以上。但对于华尔街来说，其业绩还不够好，华尔街不高兴看到该公司要求第三季度收入与第二季度大致持平。</blockquote></p><p> <i>This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com</i></p><p><blockquote><i>本文不是新闻稿，由IAMNewswire的经过验证的独立记者撰写。在任何时候都不应将其解释为投资建议，请阅读完整的披露。IAM Newswire在上述公司中没有任何职位。新闻稿-如果您正在寻找完整的新闻稿分发，请联系：press@iamnewswire.com贡献者-IAM Newswire接受推介。如果您有兴趣成为IAM记者，请联系：contributors@iamnewswire.com</i></blockquote></p><p> The post Zooming in on Zoom's Solid But Not Good Enough Results appeared first on IAM Newswire.</p><p><blockquote>放大Zoom稳健但不够好的结果的帖子首先出现在IAM新闻专线上。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164872049","content_text":"Despite logging its first billion-dollar quarter, the stock of Zoom Video Communications (NASDAQ:ZM) fell almost 11% on Monday after the company posted a higher-than-expected earnings forecast for the full year. The revenue guidance exactly met expectations, but sales-growth rates fall to new lows. In simple words, the video platform has continued to grow, but not at the overly optimistic pace that analysts expected.\nQ2 Figures\nFor the quarter that ended on July 31st, revenue increased by 54% YoY in the quarter  and topping $1 billion for the first time as it amounted to $1.02 billion, also exceeding Refinitiv expectations of $991.0 million as expected by analysts, according to Refinitiv. Adjusted net income came in 48% higher from the year-ago quarter, amounting to $1.36 per share, also exceeding $1.16 expected by Refinitiv. Free cash flow improved 22% as it improved to $455 million.\nGross margin improved from 72.3% in the previous quarter to 74.4%. Gross margin benefited from new data center capacity as well as lower usage during the summer, thanks in part to the school break. The Zoom Phone cloud-based phone service expanded from 1.5 million three months earlier to 2 million seats.\nOutlook\nDuring the quarter, Zoom announced it will acquire cloud contact-center software provider Five9, along with the availability of Zoom Events for premium online meetings. The video communications company also invested in event software maker Cvent that sought to go public through a SPAC.\nAs for the undergoing quarter, Zoom is guiding to 31% growth. Adjusted earnings per share are expected in the range between $1.07 to $1.08 with $1.015 billion to $1.020 billion in revenue.\nFor the full fiscal year, it improved its forecast as coronavirus case counts have increased and many companies delayed plans to reopen offices. Adjusted earnings are expected to be in the range between $4.75 to $4.79 per share with the revenue range being within $4.005 billion and $4.015 billion in revenue. Previous estimates for adjusted earnings were $4.56 to $4.61 and $3.98 billion to $3.99 billion for revenue.\nThe forecast is ahead of analysts' consensus estimates for both adjusted earnings per share and revenue, being $4.67 and $4.01 billion, respectively.\nThe guidance assumes strong growth for the direct and channel businesses, but also a weakness in the online business because of challenges encountered by smaller customers and consumers. Gross margin is expected to expand with students resuming classes.\nThe Verdict\nBy most standards, Zoom's business metrics look solid with 2,278 customers contributing $100,000 or more to its annual revenue. This is well over double its last year's big-client count. Customers with more than 10 employees vaulted over the half-million mark, up 36% YoY. On a trailing 12-month basis, net dollar expansion rates remained above 130%. But its results just weren't good enough for Wall Street who was not pleased to see the company calling for roughly flat third-quarter revenue compared to the second quarter.\nThis article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com\nThe post Zooming in on Zoom's Solid But Not Good Enough Results appeared first on IAM Newswire.","news_type":1,"symbols_score_info":{"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":2508,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813384838,"gmtCreate":1630132337025,"gmtModify":1704956429364,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813384838","repostId":"2162733980","repostType":4,"isVote":1,"tweetType":1,"viewCount":456,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834001626,"gmtCreate":1629760331765,"gmtModify":1631889147561,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/834001626","repostId":"2161777891","repostType":4,"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835838887,"gmtCreate":1629701692949,"gmtModify":1631889147567,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/835838887","repostId":"2161432967","repostType":4,"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832854548,"gmtCreate":1629610538384,"gmtModify":1631889147571,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/832854548","repostId":"1133515985","repostType":4,"isVote":1,"tweetType":1,"viewCount":685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836483666,"gmtCreate":1629514426155,"gmtModify":1631889147578,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836483666","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohu8.com/m/news/1151608193?lang=zh_CN&edition=full","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-23 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ON":"安森美半导体","SOXX":"iShares费城交易所半导体ETF","TSM":"台积电","ASML":"阿斯麦","AAPL":"苹果","AMZN":"亚马逊","QCOM":"高通","SNPS":"新思科技","SSNLF":"三星电子","GOOG":"谷歌","GOOGL":"谷歌A","CDNS":"铿腾电子","NVDA":"英伟达"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including Ford cars.","news_type":1,"symbols_score_info":{"GOOG":0.9,"TSM":0.9,"GOOGL":0.9,"ON":0.9,"SSNLF":0.9,"QCOM":0.9,"NVDA":0.9,"ASML":0.9,"SOXX":0.9,"CDNS":0.9,"AAPL":0.9,"AMZN":0.9,"SNPS":0.9}},"isVote":1,"tweetType":1,"viewCount":897,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831867769,"gmtCreate":1629301448451,"gmtModify":1631889147574,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/831867769","repostId":"2160379017","repostType":4,"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833811872,"gmtCreate":1629214940696,"gmtModify":1631892526101,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/833811872","repostId":"1115558959","repostType":4,"isVote":1,"tweetType":1,"viewCount":757,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830269193,"gmtCreate":1629076119412,"gmtModify":1631892526102,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/830269193","repostId":"2159434372","repostType":4,"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830936429,"gmtCreate":1628999043961,"gmtModify":1631892526108,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830936429","repostId":"1127633167","repostType":4,"repost":{"id":"1127633167","kind":"news","pubTimestamp":1628997765,"share":"https://www.laohu8.com/m/news/1127633167?lang=zh_CN&edition=full","pubTime":"2021-08-15 11:22","market":"us","language":"en","title":"These 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127633167","media":"Barrons","summary":"One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors loo","content":"<p>One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.</p><p><blockquote>当今投资界最流行的流行语之一是“复合者”。寻找下一个亚马逊、Costco Wholesale、Nike或Visa的成长型投资者寻求寻找能够在未来几年实现收入和盈利两位数复合增长（最好是两者兼而有之）的公司。</blockquote></p><p> The idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock&nbsp;that returns 10 times what you paid for it.</p><p><blockquote>这个想法是，股价应该与收入和利润保持一致，使投资者能够在五到十年的持有期内产生高回报。最终目标是找到难以捉摸的“10 bagger”——一只回报率是你购买价格10倍的股票。</blockquote></p><p> Wall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified&nbsp;in a&nbsp;<i>Barron’s</i>&nbsp;cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.</p><p><blockquote>华尔街分析师的报告和投资专业人士的客户信函中充满了compounder的参考资料。许多下一代价值管理者，在<i>巴伦周刊</i>五月的封面故事，正在寻找这样的股票，而不是传统的廉价股票的价值票价。</blockquote></p><p> Their search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.</p><p><blockquote>他们的搜索变得更具挑战性，因为买家正在为高增长的故事支付高昂的价格。真正的大赢家很少。Durable Capital Partners的数据显示，在一系列10年期间，只有约35家公司的股价每年复合增长率达到20%或以上，导致股价至少上涨了六倍。</blockquote></p><p> Many investors are happy to stick with large, well-known compounders, such as&nbsp;Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and&nbsp;Eli Lilly(LLY).</p><p><blockquote>许多投资者很乐意继续投资大型知名复合商，例如Alphabet（股票代码：GOOGL）、万事达卡（MA）、联合健康集团（UNH）和礼来公司（LLY）。</blockquote></p><p> <i>Barron’s</i>&nbsp;sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:</p><p><blockquote><i>巴伦周刊</i>试图确定较小的候选人。我们与投资经理进行了交谈，并列出了一份包含10只股票的折衷清单，其中大多数股票的市值低于100亿美元。以下是按字母顺序排列的选择：</blockquote></p><p> Strong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.</p><p><blockquote>强劲而稳定的胜利以下是成长型投资者认为能够多年来持续实现收入或利润高增长的10只股票。</blockquote></p><p> <table>  <thead>   <tr>    <th>Company / Ticker</th>    <th>Recent Price</th>    <th>YTD Change</th>    <th>2021E P/E</th>    <th>2021E Price/Sales</th>    <th>2022E P/E</th>    <th>2022E Price/Sales</th>    <th>LT Growth Rate*</th>    <th>Market Value (bil)</th>    <th>Comment</th>   </tr>  </thead>  <tbody>   <tr>    <td>Amedysis / AMED</td>    <td>$185.15</td>    <td>-37%</td>    <td>30.2</td>    <td>2.7</td>    <td>27.7</td>    <td>2.4</td>    <td>10.5%</td>    <td>$6.3</td>    <td>Leader in home health care</td>   </tr>   <tr>    <td>Amyris / AMRS</td>    <td>13.64</td>    <td>121</td>    <td>NM</td>    <td>10.4</td>    <td>NM</td>    <td>9.7</td>    <td>NA</td>    <td>4.1</td>    <td>Leading company in synthetic biology</td>   </tr>   <tr>    <td>Booz Allen Hamilton Holding / BAH</td>    <td>81.73</td>    <td>-6</td>    <td>19.4</td>    <td>1.3</td>    <td>17.7</td>    <td>1.2</td>    <td>8.6</td>    <td>11.0</td>    <td>Defense-department consultant</td>   </tr>   <tr>    <td>J.B. Hunt Transport Services / JBHT</td>    <td>172.76</td>    <td>26</td>    <td>25.8</td>    <td>1.5</td>    <td>22.2</td>    <td>1.4</td>    <td>18.4</td>    <td>18.2</td>    <td>Strong in intermodal freight</td>   </tr>   <tr>    <td>Marriott Vacations Worldwide / VAC</td>    <td>147.15</td>    <td>7</td>    <td>40.9</td>    <td>1.6</td>    <td>15.7</td>    <td>1.4</td>    <td>NA</td>    <td>6.3</td>    <td>Top company in vacation timeshares</td>   </tr>   <tr>    <td>SiteOne Landscape Supply / SITE</td>    <td>197.10</td>    <td>24</td>    <td>45.7</td>    <td>2.6</td>    <td>43.5</td>    <td>2.5</td>    <td>19.3</td>    <td>8.8</td>    <td>Big supplier of landscaping supplies</td>   </tr>   <tr>    <td>Staar Surgical / STAA</td>    <td>138.19</td>    <td>74</td>    <td>192.3</td>    <td>28.6</td>    <td>140.8</td>    <td>22.5</td>    <td>30.0</td>    <td>6.6</td>    <td>Maker of implantable lens for myopia</td>   </tr>   <tr>    <td>Stitch Fix / SFIX</td>    <td>44.38</td>    <td>-24</td>    <td>NM</td>    <td>1.9</td>    <td>1890.3</td>    <td>1.7</td>    <td>30.0</td>    <td>4.8</td>    <td>Data-driven subscription clothing firm</td>   </tr>   <tr>    <td>Trex / TREX</td>    <td>105.94</td>    <td>27</td>    <td>51.9</td>    <td>10.5</td>    <td>43.6</td>    <td>9.3</td>    <td>18.8</td>    <td>12.2</td>    <td>Top maker of synthetic wood decking</td>   </tr>   <tr>    <td>Upwork / UPWK</td>    <td>44.31</td>    <td>28</td>    <td>NM</td>    <td>11.4</td>    <td>556.8</td>    <td>9.2</td>    <td>NA</td>    <td>5.7</td>    <td>Online clearinghouse for free-lancers</td>   </tr>  </tbody> </table> E=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.</p><p><blockquote><table><thead><tr><th>公司/股票代码</th><th>近期价格</th><th>年初至今变化</th><th>2021年预计市盈率</th><th>2021E价格/销售额</th><th>2022年预计市盈率</th><th>2022E价格/销售额</th><th>LT增长率*</th><th>市值（bil）</th><th>评论</th></tr></thead><tbody><tr><td>Amedysis/AMED</td><td>$185.15</td><td>-37%</td><td>30.2</td><td>2.7</td><td>27.7</td><td>2.4</td><td>10.5%</td><td>$6.3</td><td>家庭医疗保健领域的领导者</td></tr><tr><td>Amyris/AMRS</td><td>13.64</td><td>121</td><td>NM</td><td>10.4</td><td>NM</td><td>9.7</td><td>NA</td><td>4.1</td><td>合成生物学领域的领先公司</td></tr><tr><td>博思艾伦控股/BAH</td><td>81.73</td><td>-6</td><td>19.4</td><td>1.3</td><td>17.7</td><td>1.2</td><td>8.6</td><td>11.0</td><td>国防部顾问</td></tr><tr><td>J.B.亨特运输服务/JBHT</td><td>172.76</td><td>26</td><td>25.8</td><td>1.5</td><td>22.2</td><td>1.4</td><td>18.4</td><td>18.2</td><td>多式联运货运实力强劲</td></tr><tr><td>万豪度假全球/VAC</td><td>147.15</td><td>7</td><td>40.9</td><td>1.6</td><td>15.7</td><td>1.4</td><td>NA</td><td>6.3</td><td>度假分时度假顶级公司</td></tr><tr><td>SiteOne景观供应/站点</td><td>197.10</td><td>24</td><td>45.7</td><td>2.6</td><td>43.5</td><td>2.5</td><td>19.3</td><td>8.8</td><td>园林绿化用品大供应商</td></tr><tr><td>Staar外科/STAA</td><td>138.19</td><td>74</td><td>192.3</td><td>28.6</td><td>140.8</td><td>22.5</td><td>30.0</td><td>6.6</td><td>近视植入式镜片制造商</td></tr><tr><td>缝合固定/SFIX</td><td>44.38</td><td>-24</td><td>NM</td><td>1.9</td><td>1890.3</td><td>1.7</td><td>30.0</td><td>4.8</td><td>数据驱动的订阅服装公司</td></tr><tr><td>Trex/Trex</td><td>105.94</td><td>27</td><td>51.9</td><td>10.5</td><td>43.6</td><td>9.3</td><td>18.8</td><td>12.2</td><td>顶级合成木地板制造商</td></tr><tr><td>Upwork/UPWK</td><td>44.31</td><td>28</td><td>NM</td><td>11.4</td><td>556.8</td><td>9.2</td><td>NA</td><td>5.7</td><td>自由职业者在线信息交换所</td></tr></tbody></table>E=估计值。BAH预估适用于截至2022年3月和3月23日的财年。SFIX预估适用于截至2022年7月和2023年7月的财年。NM=无意义。NA=不可用。*公司未来3-5年可维持的年度每股收益增长。</blockquote></p><p> Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Amedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.</p><p><blockquote>Amedisys(AMED)是一家家庭医疗保健和临终关怀服务提供商，业务仍然分散，业务遍及全国。</blockquote></p><p></p><p> “There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”</p><p><blockquote>哥伦比亚小盘成长基金经理丹·科尔预测，“该行业将会出现大规模整合”。“医疗保健正在向家庭转移。”</blockquote></p><p> Amedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.</p><p><blockquote>Amedisys股价在过去十年中上涨了十倍多。但该公司最近以与新冠疫情相关的人员配备和成本问题（主要是收购的临终关怀业务）为由，下调了2021年财务指引，股价约为185美元，下跌了近30%。2021年盈利预期目前为每股6.13美元，低于近7美元。该股的交易价格是2021年预计利润的30倍。科尔表示，该公司仍有能力实现每股收益10%的年增长。</blockquote></p><p> Amyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.</p><p><blockquote>Amyris(AMRS)是合成生物学领域的领导者。它的粉丝们说，它的机会是以一种环保的方式取代一系列现在由石化产品、动物和植物制成的产品。</blockquote></p><p> Using genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.</p><p><blockquote>Amyris使用基因改造的酵母和甘蔗生产角鲨烷等产品，这是一种以前由鲨鱼肝制成的高端保湿剂；香草醛，香草的调味料；和通常来源于植物的无热量甜味剂。该股交易价格约为13美元。</blockquote></p><p> <i>Barron’s</i>&nbsp;wrote&nbsp;favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.</p><p><blockquote><i>巴伦周刊</i>7月份对该公司进行了好评。Amyris预计，在其消费品牌的推动下，到2025年销售额将达到20亿美元，高于今年预计的4亿美元。</blockquote></p><p> “The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.</p><p><blockquote>拥有Amyris股票的Pinnacle Associates的投资组合经理兰迪·巴伦(Randy Baron)表示：“世界需要清洁化学，而Amyris是创造清洁化学的关键。”他认为到2022年底它们可能会达到75美元。</blockquote></p><p> Booz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.</p><p><blockquote>博思艾伦控股公司（BAH）是国防部和其他机构的重要顾问。美国政府最近一财年的收入占其收入的97%。多年来，博思艾伦通过提供网络安全等一系列服务与政府建立了牢固的关系。其股价约为81美元，收益率为1.8%。</blockquote></p><p> “It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.</p><p><blockquote>T.Rowe Price New Horizons基金经理乔什·斯宾塞(Josh Spencer)表示：“它建立了强大的、类似伙伴关系的文化，并拥有长期稳定增长的记录。”他认为博思艾伦有能力实现9%至10%的收入年增长率和15%至16%的盈利年增长率，与其历史表现一致。由于担心军费开支更加克制，该股较100美元的峰值下跌了20%。斯宾塞将回调视为买入机会，该股的市盈率不到20倍。</blockquote></p><p> J.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the&nbsp;Barron’s Roundtable.</p><p><blockquote>J.B.亨特运输服务公司(JBHT)是多式联运货运领域的领导者，该领域涉及卡车在铁路线上的省油运输。它是最成功的卡车运输公司之一。其股价在过去20年中上涨了30倍，最近达到173美元。“它拥有令人难以置信的特许经营权，”Durable Capital Partners首席投资官、《巴伦周刊》圆桌会议成员亨利·埃伦博根(Henry Ellenbogen)表示。</blockquote></p><p> J.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.</p><p><blockquote>J.B.他指出，亨特与伯灵顿北圣达菲铁路公司的关系使其在多式联运货运领域拥有强大的地位。J.B.亨特的业务也在不断增长，接管了小公司的卡车运输业务。它还参与数字货运经纪业务——为卡车司机和航运客户牵线搭桥。</blockquote></p><p> Ellenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.</p><p><blockquote>Ellenbogen表示，考虑到盈利年增长率为十几岁左右，该股2022年预计利润的22倍是合理的。</blockquote></p><p> Marriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.</p><p><blockquote>万豪度假全球（VAC）是分时度假行业的顶级公司之一。它拥有700,000名业主，拥有富有弹性的商业模式，从费用中获得可观的收入，并且比同行更多地接触夏威夷和佛罗里达州奥兰多等地的豪华房产。</blockquote></p><p> “It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.</p><p><blockquote>Baron Focused Growth基金经理David Baron表示：“它拥有最好的客户群、最高的支出和无可挑剔的资产负债表。”他补充道，万豪度假公司的股价最近约为145美元，应该会在今年晚些时候恢复股息。</blockquote></p><p> The shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.</p><p><blockquote>Baron认为，根据2022年的预测，该股的自由现金流收益率为11%，价格低廉。他表示，该股自2018年以来几乎没有变化，未来几年可能为股东带来20%的年回报率。</blockquote></p><p> SiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.</p><p><blockquote>SiteOne Landscape Supply(SITE)是该国最大的景观美化产品供应商，鉴于其在高度分散的行业中仅占13%的市场份额，因此有充足的扩张机会。</blockquote></p><p> “It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.</p><p><blockquote>哥伦比亚大学的科尔表示：“它正在有机增长，并且有很多收购机会。”他认为该公司的年收入有能力增长10%至15%。</blockquote></p><p> The stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.</p><p><blockquote>该股股价约为197美元，估值很高，交易价格是2022年预计每股收益4.54美元的43倍。</blockquote></p><p> Staar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.</p><p><blockquote>Staar外科公司（STAA）开发了一种可植入晶状体来矫正近视（近视）。鉴于全球视力问题的发病率不断上升，这解决了一个潜在的巨大市场。该公司预计，这款镜片已在欧洲和亚洲上市至少五年，将于第四季度进入美国市场，等待美国食品和药物管理局的批准。</blockquote></p><p></p><p> “It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”</p><p><blockquote>Baillie Gifford全球经理道格·布罗迪(Doug Brodie)表示：“它的销量可能会很大。它还处于起步阶段，基本上没有竞争。”</blockquote></p><p> Lenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.</p><p><blockquote>双眼的晶状体可以在不到一个小时内植入，而且不需要移除天然晶状体。在美国，每个镜片的批发成本可能在1000美元左右。</blockquote></p><p> At a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.</p><p><blockquote>Staar股价最近为138美元，其估值超过2022年预计销售额的20倍，是2022年预计收益的140倍。但市场机会是巨大的：到2050年，全球约有50亿人可能患有近视。</blockquote></p><p> Stitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.</p><p><blockquote>Stitch Fix(SFIX)开发了服装、鞋子和其他配饰的订阅服务，拥有超过400万客户。</blockquote></p><p> “This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.</p><p><blockquote>“这可能是未来的诺德斯特龙，”Stitch Fix持有者Marathon Partners Equity Management首席投资官马里奥·西贝利(Mario Cibelli)表示。“这是一个潜在的巨大市场，没有人以同样的方式解决这个问题。”Stitch Fix利用6000名个人造型师和大量数据，试图确定订户的品味，以产生高满意度，并限制每隔一段时间发送并由订户决定的包裹的回报。</blockquote></p><p> Its shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.</p><p><blockquote>由于投资者对潜在客户流失和业务最终盈利能力的担忧，其股价约为44美元，较今年早些时候的水平下跌了60%。</blockquote></p><p> Yet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.</p><p><blockquote>然而，Cibelli预计收入每年将增长20%以上，在当前美国和英国市场之外还有机会，并且在两到三年内业务可能会非常有利可图。</blockquote></p><p> Trex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.</p><p><blockquote>Trex(TREX)是甲板高端木材替代品的顶级生产商，其95%来自回收材料，使其成为一种环保的住房。该股股价为105美元，是2022年预计市盈率的43倍。</blockquote></p><p> T. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.</p><p><blockquote>T.Rowe Price的Spencer认为Trex物有所值，因为他认为它可以产生15%至20%的可持续年收入增长。预计2022年盈利将增长约20%，并在接下来的几年中以类似的速度增长。“如果你把时间拨快三年，它看起来并没有那么贵，”他说。</blockquote></p><p> Upwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.</p><p><blockquote>Upwork(UPWK)是一个面向自由职业者的在线市场，受到Baillie Gifford的Brodie的青睐，他表示，它可以让企业更好地接受自由职业者。</blockquote></p><p> The shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.</p><p><blockquote>该股最近约为44美元，并不便宜。Upwork的估值为57亿美元，是今年预计销售额近5亿美元的10倍以上。它的运营略有亏损。</blockquote></p><p> The investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.</p><p><blockquote>投资案例是关于快速销售增长带来丰厚收益。预计今年销售额将增长30%以上，2022年将增长25%。</blockquote></p><p> “Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.</p><p><blockquote>“自由职业者更容易被中小型企业接受，但大型企业的人力资源部门却不喜欢他们，”布罗迪说。Upwork旨在通过审查自由职业者和提供数千种技能来改变这种看法。“Upwork可以成为越来越多企业级合作伙伴值得信赖的合作伙伴，”他说。</blockquote></p><p></p>","source":"lsy1601382232898","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>These 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-08-15 11:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.</p><p><blockquote>当今投资界最流行的流行语之一是“复合者”。寻找下一个亚马逊、Costco Wholesale、Nike或Visa的成长型投资者寻求寻找能够在未来几年实现收入和盈利两位数复合增长（最好是两者兼而有之）的公司。</blockquote></p><p> The idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock&nbsp;that returns 10 times what you paid for it.</p><p><blockquote>这个想法是，股价应该与收入和利润保持一致，使投资者能够在五到十年的持有期内产生高回报。最终目标是找到难以捉摸的“10 bagger”——一只回报率是你购买价格10倍的股票。</blockquote></p><p> Wall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified&nbsp;in a&nbsp;<i>Barron’s</i>&nbsp;cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.</p><p><blockquote>华尔街分析师的报告和投资专业人士的客户信函中充满了compounder的参考资料。许多下一代价值管理者，在<i>巴伦周刊</i>五月的封面故事，正在寻找这样的股票，而不是传统的廉价股票的价值票价。</blockquote></p><p> Their search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.</p><p><blockquote>他们的搜索变得更具挑战性，因为买家正在为高增长的故事支付高昂的价格。真正的大赢家很少。Durable Capital Partners的数据显示，在一系列10年期间，只有约35家公司的股价每年复合增长率达到20%或以上，导致股价至少上涨了六倍。</blockquote></p><p> Many investors are happy to stick with large, well-known compounders, such as&nbsp;Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and&nbsp;Eli Lilly(LLY).</p><p><blockquote>许多投资者很乐意继续投资大型知名复合商，例如Alphabet（股票代码：GOOGL）、万事达卡（MA）、联合健康集团（UNH）和礼来公司（LLY）。</blockquote></p><p> <i>Barron’s</i>&nbsp;sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:</p><p><blockquote><i>巴伦周刊</i>试图确定较小的候选人。我们与投资经理进行了交谈，并列出了一份包含10只股票的折衷清单，其中大多数股票的市值低于100亿美元。以下是按字母顺序排列的选择：</blockquote></p><p> Strong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.</p><p><blockquote>强劲而稳定的胜利以下是成长型投资者认为能够多年来持续实现收入或利润高增长的10只股票。</blockquote></p><p> <table>  <thead>   <tr>    <th>Company / Ticker</th>    <th>Recent Price</th>    <th>YTD Change</th>    <th>2021E P/E</th>    <th>2021E Price/Sales</th>    <th>2022E P/E</th>    <th>2022E Price/Sales</th>    <th>LT Growth Rate*</th>    <th>Market Value (bil)</th>    <th>Comment</th>   </tr>  </thead>  <tbody>   <tr>    <td>Amedysis / AMED</td>    <td>$185.15</td>    <td>-37%</td>    <td>30.2</td>    <td>2.7</td>    <td>27.7</td>    <td>2.4</td>    <td>10.5%</td>    <td>$6.3</td>    <td>Leader in home health care</td>   </tr>   <tr>    <td>Amyris / AMRS</td>    <td>13.64</td>    <td>121</td>    <td>NM</td>    <td>10.4</td>    <td>NM</td>    <td>9.7</td>    <td>NA</td>    <td>4.1</td>    <td>Leading company in synthetic biology</td>   </tr>   <tr>    <td>Booz Allen Hamilton Holding / BAH</td>    <td>81.73</td>    <td>-6</td>    <td>19.4</td>    <td>1.3</td>    <td>17.7</td>    <td>1.2</td>    <td>8.6</td>    <td>11.0</td>    <td>Defense-department consultant</td>   </tr>   <tr>    <td>J.B. Hunt Transport Services / JBHT</td>    <td>172.76</td>    <td>26</td>    <td>25.8</td>    <td>1.5</td>    <td>22.2</td>    <td>1.4</td>    <td>18.4</td>    <td>18.2</td>    <td>Strong in intermodal freight</td>   </tr>   <tr>    <td>Marriott Vacations Worldwide / VAC</td>    <td>147.15</td>    <td>7</td>    <td>40.9</td>    <td>1.6</td>    <td>15.7</td>    <td>1.4</td>    <td>NA</td>    <td>6.3</td>    <td>Top company in vacation timeshares</td>   </tr>   <tr>    <td>SiteOne Landscape Supply / SITE</td>    <td>197.10</td>    <td>24</td>    <td>45.7</td>    <td>2.6</td>    <td>43.5</td>    <td>2.5</td>    <td>19.3</td>    <td>8.8</td>    <td>Big supplier of landscaping supplies</td>   </tr>   <tr>    <td>Staar Surgical / STAA</td>    <td>138.19</td>    <td>74</td>    <td>192.3</td>    <td>28.6</td>    <td>140.8</td>    <td>22.5</td>    <td>30.0</td>    <td>6.6</td>    <td>Maker of implantable lens for myopia</td>   </tr>   <tr>    <td>Stitch Fix / SFIX</td>    <td>44.38</td>    <td>-24</td>    <td>NM</td>    <td>1.9</td>    <td>1890.3</td>    <td>1.7</td>    <td>30.0</td>    <td>4.8</td>    <td>Data-driven subscription clothing firm</td>   </tr>   <tr>    <td>Trex / TREX</td>    <td>105.94</td>    <td>27</td>    <td>51.9</td>    <td>10.5</td>    <td>43.6</td>    <td>9.3</td>    <td>18.8</td>    <td>12.2</td>    <td>Top maker of synthetic wood decking</td>   </tr>   <tr>    <td>Upwork / UPWK</td>    <td>44.31</td>    <td>28</td>    <td>NM</td>    <td>11.4</td>    <td>556.8</td>    <td>9.2</td>    <td>NA</td>    <td>5.7</td>    <td>Online clearinghouse for free-lancers</td>   </tr>  </tbody> </table> E=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.</p><p><blockquote><table><thead><tr><th>公司/股票代码</th><th>近期价格</th><th>年初至今变化</th><th>2021年预计市盈率</th><th>2021E价格/销售额</th><th>2022年预计市盈率</th><th>2022E价格/销售额</th><th>LT增长率*</th><th>市值（bil）</th><th>评论</th></tr></thead><tbody><tr><td>Amedysis/AMED</td><td>$185.15</td><td>-37%</td><td>30.2</td><td>2.7</td><td>27.7</td><td>2.4</td><td>10.5%</td><td>$6.3</td><td>家庭医疗保健领域的领导者</td></tr><tr><td>Amyris/AMRS</td><td>13.64</td><td>121</td><td>NM</td><td>10.4</td><td>NM</td><td>9.7</td><td>NA</td><td>4.1</td><td>合成生物学领域的领先公司</td></tr><tr><td>博思艾伦控股/BAH</td><td>81.73</td><td>-6</td><td>19.4</td><td>1.3</td><td>17.7</td><td>1.2</td><td>8.6</td><td>11.0</td><td>国防部顾问</td></tr><tr><td>J.B.亨特运输服务/JBHT</td><td>172.76</td><td>26</td><td>25.8</td><td>1.5</td><td>22.2</td><td>1.4</td><td>18.4</td><td>18.2</td><td>多式联运货运实力强劲</td></tr><tr><td>万豪度假全球/VAC</td><td>147.15</td><td>7</td><td>40.9</td><td>1.6</td><td>15.7</td><td>1.4</td><td>NA</td><td>6.3</td><td>度假分时度假顶级公司</td></tr><tr><td>SiteOne景观供应/站点</td><td>197.10</td><td>24</td><td>45.7</td><td>2.6</td><td>43.5</td><td>2.5</td><td>19.3</td><td>8.8</td><td>园林绿化用品大供应商</td></tr><tr><td>Staar外科/STAA</td><td>138.19</td><td>74</td><td>192.3</td><td>28.6</td><td>140.8</td><td>22.5</td><td>30.0</td><td>6.6</td><td>近视植入式镜片制造商</td></tr><tr><td>缝合固定/SFIX</td><td>44.38</td><td>-24</td><td>NM</td><td>1.9</td><td>1890.3</td><td>1.7</td><td>30.0</td><td>4.8</td><td>数据驱动的订阅服装公司</td></tr><tr><td>Trex/Trex</td><td>105.94</td><td>27</td><td>51.9</td><td>10.5</td><td>43.6</td><td>9.3</td><td>18.8</td><td>12.2</td><td>顶级合成木地板制造商</td></tr><tr><td>Upwork/UPWK</td><td>44.31</td><td>28</td><td>NM</td><td>11.4</td><td>556.8</td><td>9.2</td><td>NA</td><td>5.7</td><td>自由职业者在线信息交换所</td></tr></tbody></table>E=估计值。BAH预估适用于截至2022年3月和3月23日的财年。SFIX预估适用于截至2022年7月和2023年7月的财年。NM=无意义。NA=不可用。*公司未来3-5年可维持的年度每股收益增长。</blockquote></p><p> Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Amedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.</p><p><blockquote>Amedisys(AMED)是一家家庭医疗保健和临终关怀服务提供商，业务仍然分散，业务遍及全国。</blockquote></p><p></p><p> “There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”</p><p><blockquote>哥伦比亚小盘成长基金经理丹·科尔预测，“该行业将会出现大规模整合”。“医疗保健正在向家庭转移。”</blockquote></p><p> Amedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.</p><p><blockquote>Amedisys股价在过去十年中上涨了十倍多。但该公司最近以与新冠疫情相关的人员配备和成本问题（主要是收购的临终关怀业务）为由，下调了2021年财务指引，股价约为185美元，下跌了近30%。2021年盈利预期目前为每股6.13美元，低于近7美元。该股的交易价格是2021年预计利润的30倍。科尔表示，该公司仍有能力实现每股收益10%的年增长。</blockquote></p><p> Amyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.</p><p><blockquote>Amyris(AMRS)是合成生物学领域的领导者。它的粉丝们说，它的机会是以一种环保的方式取代一系列现在由石化产品、动物和植物制成的产品。</blockquote></p><p> Using genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.</p><p><blockquote>Amyris使用基因改造的酵母和甘蔗生产角鲨烷等产品，这是一种以前由鲨鱼肝制成的高端保湿剂；香草醛，香草的调味料；和通常来源于植物的无热量甜味剂。该股交易价格约为13美元。</blockquote></p><p> <i>Barron’s</i>&nbsp;wrote&nbsp;favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.</p><p><blockquote><i>巴伦周刊</i>7月份对该公司进行了好评。Amyris预计，在其消费品牌的推动下，到2025年销售额将达到20亿美元，高于今年预计的4亿美元。</blockquote></p><p> “The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.</p><p><blockquote>拥有Amyris股票的Pinnacle Associates的投资组合经理兰迪·巴伦(Randy Baron)表示：“世界需要清洁化学，而Amyris是创造清洁化学的关键。”他认为到2022年底它们可能会达到75美元。</blockquote></p><p> Booz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.</p><p><blockquote>博思艾伦控股公司（BAH）是国防部和其他机构的重要顾问。美国政府最近一财年的收入占其收入的97%。多年来，博思艾伦通过提供网络安全等一系列服务与政府建立了牢固的关系。其股价约为81美元，收益率为1.8%。</blockquote></p><p> “It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.</p><p><blockquote>T.Rowe Price New Horizons基金经理乔什·斯宾塞(Josh Spencer)表示：“它建立了强大的、类似伙伴关系的文化，并拥有长期稳定增长的记录。”他认为博思艾伦有能力实现9%至10%的收入年增长率和15%至16%的盈利年增长率，与其历史表现一致。由于担心军费开支更加克制，该股较100美元的峰值下跌了20%。斯宾塞将回调视为买入机会，该股的市盈率不到20倍。</blockquote></p><p> J.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the&nbsp;Barron’s Roundtable.</p><p><blockquote>J.B.亨特运输服务公司(JBHT)是多式联运货运领域的领导者，该领域涉及卡车在铁路线上的省油运输。它是最成功的卡车运输公司之一。其股价在过去20年中上涨了30倍，最近达到173美元。“它拥有令人难以置信的特许经营权，”Durable Capital Partners首席投资官、《巴伦周刊》圆桌会议成员亨利·埃伦博根(Henry Ellenbogen)表示。</blockquote></p><p> J.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.</p><p><blockquote>J.B.他指出，亨特与伯灵顿北圣达菲铁路公司的关系使其在多式联运货运领域拥有强大的地位。J.B.亨特的业务也在不断增长，接管了小公司的卡车运输业务。它还参与数字货运经纪业务——为卡车司机和航运客户牵线搭桥。</blockquote></p><p> Ellenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.</p><p><blockquote>Ellenbogen表示，考虑到盈利年增长率为十几岁左右，该股2022年预计利润的22倍是合理的。</blockquote></p><p> Marriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.</p><p><blockquote>万豪度假全球（VAC）是分时度假行业的顶级公司之一。它拥有700,000名业主，拥有富有弹性的商业模式，从费用中获得可观的收入，并且比同行更多地接触夏威夷和佛罗里达州奥兰多等地的豪华房产。</blockquote></p><p> “It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.</p><p><blockquote>Baron Focused Growth基金经理David Baron表示：“它拥有最好的客户群、最高的支出和无可挑剔的资产负债表。”他补充道，万豪度假公司的股价最近约为145美元，应该会在今年晚些时候恢复股息。</blockquote></p><p> The shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.</p><p><blockquote>Baron认为，根据2022年的预测，该股的自由现金流收益率为11%，价格低廉。他表示，该股自2018年以来几乎没有变化，未来几年可能为股东带来20%的年回报率。</blockquote></p><p> SiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.</p><p><blockquote>SiteOne Landscape Supply(SITE)是该国最大的景观美化产品供应商，鉴于其在高度分散的行业中仅占13%的市场份额，因此有充足的扩张机会。</blockquote></p><p> “It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.</p><p><blockquote>哥伦比亚大学的科尔表示：“它正在有机增长，并且有很多收购机会。”他认为该公司的年收入有能力增长10%至15%。</blockquote></p><p> The stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.</p><p><blockquote>该股股价约为197美元，估值很高，交易价格是2022年预计每股收益4.54美元的43倍。</blockquote></p><p> Staar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.</p><p><blockquote>Staar外科公司（STAA）开发了一种可植入晶状体来矫正近视（近视）。鉴于全球视力问题的发病率不断上升，这解决了一个潜在的巨大市场。该公司预计，这款镜片已在欧洲和亚洲上市至少五年，将于第四季度进入美国市场，等待美国食品和药物管理局的批准。</blockquote></p><p></p><p> “It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”</p><p><blockquote>Baillie Gifford全球经理道格·布罗迪(Doug Brodie)表示：“它的销量可能会很大。它还处于起步阶段，基本上没有竞争。”</blockquote></p><p> Lenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.</p><p><blockquote>双眼的晶状体可以在不到一个小时内植入，而且不需要移除天然晶状体。在美国，每个镜片的批发成本可能在1000美元左右。</blockquote></p><p> At a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.</p><p><blockquote>Staar股价最近为138美元，其估值超过2022年预计销售额的20倍，是2022年预计收益的140倍。但市场机会是巨大的：到2050年，全球约有50亿人可能患有近视。</blockquote></p><p> Stitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.</p><p><blockquote>Stitch Fix(SFIX)开发了服装、鞋子和其他配饰的订阅服务，拥有超过400万客户。</blockquote></p><p> “This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.</p><p><blockquote>“这可能是未来的诺德斯特龙，”Stitch Fix持有者Marathon Partners Equity Management首席投资官马里奥·西贝利(Mario Cibelli)表示。“这是一个潜在的巨大市场，没有人以同样的方式解决这个问题。”Stitch Fix利用6000名个人造型师和大量数据，试图确定订户的品味，以产生高满意度，并限制每隔一段时间发送并由订户决定的包裹的回报。</blockquote></p><p> Its shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.</p><p><blockquote>由于投资者对潜在客户流失和业务最终盈利能力的担忧，其股价约为44美元，较今年早些时候的水平下跌了60%。</blockquote></p><p> Yet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.</p><p><blockquote>然而，Cibelli预计收入每年将增长20%以上，在当前美国和英国市场之外还有机会，并且在两到三年内业务可能会非常有利可图。</blockquote></p><p> Trex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.</p><p><blockquote>Trex(TREX)是甲板高端木材替代品的顶级生产商，其95%来自回收材料，使其成为一种环保的住房。该股股价为105美元，是2022年预计市盈率的43倍。</blockquote></p><p> T. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.</p><p><blockquote>T.Rowe Price的Spencer认为Trex物有所值，因为他认为它可以产生15%至20%的可持续年收入增长。预计2022年盈利将增长约20%，并在接下来的几年中以类似的速度增长。“如果你把时间拨快三年，它看起来并没有那么贵，”他说。</blockquote></p><p> Upwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.</p><p><blockquote>Upwork(UPWK)是一个面向自由职业者的在线市场，受到Baillie Gifford的Brodie的青睐，他表示，它可以让企业更好地接受自由职业者。</blockquote></p><p> The shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.</p><p><blockquote>该股最近约为44美元，并不便宜。Upwork的估值为57亿美元，是今年预计销售额近5亿美元的10倍以上。它的运营略有亏损。</blockquote></p><p> The investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.</p><p><blockquote>投资案例是关于快速销售增长带来丰厚收益。预计今年销售额将增长30%以上，2022年将增长25%。</blockquote></p><p> “Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.</p><p><blockquote>“自由职业者更容易被中小型企业接受，但大型企业的人力资源部门却不喜欢他们，”布罗迪说。Upwork旨在通过审查自由职业者和提供数千种技能来改变这种看法。“Upwork可以成为越来越多企业级合作伙伴值得信赖的合作伙伴，”他说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-potential-compounder-growth-51628888840?mod=hp_LEADSUPP_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SFIX":"Stitch Fix Inc.","SITE":"SiteOne Landscape Supply, Inc.","AMRS":"阿米瑞斯","BAH":"博思艾伦咨询公司","VAC":"万豪度假环球","STAA":"STAAR Surgical Company","UPWK":"Upwork Inc.","JBHT":"JB Hunt运输服务","AMED":"阿米斯医疗","TREX":"Trex Co Inc"},"source_url":"https://www.barrons.com/articles/stocks-potential-compounder-growth-51628888840?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127633167","content_text":"One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.\nThe idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock that returns 10 times what you paid for it.\nWall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified in a Barron’s cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.\nTheir search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.\nMany investors are happy to stick with large, well-known compounders, such as Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and Eli Lilly(LLY).\nBarron’s sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:\nStrong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.\n\n\n\nCompany / Ticker\nRecent Price\nYTD Change\n2021E P/E\n2021E Price/Sales\n2022E P/E\n2022E Price/Sales\nLT Growth Rate*\nMarket Value (bil)\nComment\n\n\n\n\nAmedysis / AMED\n$185.15\n-37%\n30.2\n2.7\n27.7\n2.4\n10.5%\n$6.3\nLeader in home health care\n\n\nAmyris / AMRS\n13.64\n121\nNM\n10.4\nNM\n9.7\nNA\n4.1\nLeading company in synthetic biology\n\n\nBooz Allen Hamilton Holding / BAH\n81.73\n-6\n19.4\n1.3\n17.7\n1.2\n8.6\n11.0\nDefense-department consultant\n\n\nJ.B. Hunt Transport Services / JBHT\n172.76\n26\n25.8\n1.5\n22.2\n1.4\n18.4\n18.2\nStrong in intermodal freight\n\n\nMarriott Vacations Worldwide / VAC\n147.15\n7\n40.9\n1.6\n15.7\n1.4\nNA\n6.3\nTop company in vacation timeshares\n\n\nSiteOne Landscape Supply / SITE\n197.10\n24\n45.7\n2.6\n43.5\n2.5\n19.3\n8.8\nBig supplier of landscaping supplies\n\n\nStaar Surgical / STAA\n138.19\n74\n192.3\n28.6\n140.8\n22.5\n30.0\n6.6\nMaker of implantable lens for myopia\n\n\nStitch Fix / SFIX\n44.38\n-24\nNM\n1.9\n1890.3\n1.7\n30.0\n4.8\nData-driven subscription clothing firm\n\n\nTrex / TREX\n105.94\n27\n51.9\n10.5\n43.6\n9.3\n18.8\n12.2\nTop maker of synthetic wood decking\n\n\nUpwork / UPWK\n44.31\n28\nNM\n11.4\n556.8\n9.2\nNA\n5.7\nOnline clearinghouse for free-lancers\n\n\n\nE=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.\nSource: FactSet\nAmedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.\n“There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”\nAmedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.\nAmyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.\nUsing genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.\nBarron’s wrote favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.\n“The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.\nBooz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.\n“It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.\nJ.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the Barron’s Roundtable.\nJ.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.\nEllenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.\nMarriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.\n“It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.\nThe shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.\nSiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.\n\n“It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.\nThe stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.\nStaar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.\n“It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”\nLenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.\nAt a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.\nStitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.\n“This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.\nIts shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.\nYet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.\nTrex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.\nT. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.\nUpwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.\nThe shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.\nThe investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.\n“Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.","news_type":1,"symbols_score_info":{"UPWK":0.9,"TREX":0.9,"STAA":0.9,"SFIX":0.9,"AMED":0.9,"BAH":0.9,"VAC":0.9,"JBHT":0.9,"AMRS":0.9,"SITE":0.9}},"isVote":1,"tweetType":1,"viewCount":343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897335964,"gmtCreate":1628878758258,"gmtModify":1631892526108,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897335964","repostId":"2159218437","repostType":4,"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":883022864,"gmtCreate":1631191384558,"gmtModify":1631889147546,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/883022864","repostId":"1178868825","repostType":4,"repost":{"id":"1178868825","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631189052,"share":"https://www.laohu8.com/m/news/1178868825?lang=zh_CN&edition=full","pubTime":"2021-09-09 20:04","market":"us","language":"en","title":"Toplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1178868825","media":"Tiger Newspress","summary":"U.S. stock futures fall ahead of jobless claims.\nChina’s tech stocks slid after firms including Tenc","content":"<p><ul>  <li>U.S. stock futures fall ahead of jobless claims.</li>  <li>China’s tech stocks slid after&nbsp;<b>firms including Tencent and NetEase</b>&nbsp;<b>were</b>&nbsp;<b>told&nbsp; to end their focus on profit in gaming.</b></li>  <li>GameStop sinks on lack of guidance; Lululemon soars on strong outlook.</li>  <li>Ukraine to become latest country to legalize bitcoin as it goes global</li> </ul> (Sept 9)&nbsp;Futures were pinned in the red on Thursday, pointing to a lower open for Wall Street's regular session, with investors struggling to reconcile a still hot jobs market with an economy that's seen its momentum dented by soaring COVID-19 infections.</p><p><blockquote><ul><li>美国股指期货在初请失业金人数之前下跌。</li><li>中国科技股随后下跌<b>腾讯控股和网易等公司</b> <b>是</b> <b>被告知结束对游戏利润的关注。</b></li><li>游戏驿站因缺乏指导而沉没；Lululemon因强劲的前景而飙升。</li><li>乌克兰将成为最新一个比特币走向全球合法化的国家</li></ul>（9月9日）期货周四收跌，表明华尔街常规交易开盘走低，投资者努力调和仍然火热的就业市场与因新冠肺炎感染飙升而势头减弱的经济。</blockquote></p><p> At 8:07 a.m. ET, Dow E-minis were down 4 points, or 0.01%, S&amp;P 500 E-minis fell 2.25 points, or 0.05% and Nasdaq 100 E-minis dipped 3.25 points, or 0.02%.</p><p><blockquote>美国东部时间上午8:07，道指E-minis下跌4点，跌幅0.01%，标普500 E-minis下跌2.25点，跌幅0.05%，纳斯达克100 E-minis下跌3.25点，跌幅0.02%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/13ef085786e7e3e80d4e763e0f6a298e\" tg-width=\"1231\" tg-height=\"517\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Heavyweight technology stocks including Apple, Microsoft, Alphabet, Netflix and Amazon.com Inc all fell about 0.3% each in premarket trading.&nbsp; In U.S. premarket trading, China’s tech stocks slid after&nbsp;<b>firms including Tencent and NetEase</b>&nbsp;<b>were</b>&nbsp;<b>told&nbsp; to end their focus on profit in gaming.</b>&nbsp;The selloff extended to the&nbsp;U.S. premarket hours&nbsp;when NetEase and Alibaba tumbled, underscoring the market’s continued vulnerability to policy risks. NetEase (NTES) slips 6.4% and Bilibili (BILI) falls 6.9%, while the likes of Alibaba (BABA), Pinduoduo (PDD) and Baidu (BIDU) also dropped as did Roblox, Activision Blizzard, Electronic Art and Take-Two, all down between 0.3% and 1.6%. Digital Realty, which manages technology-related properties, declined 3.6% after entering into forward sale agreements with banks for 6.25 million shares at $160.50 each.</p><p><blockquote>苹果、微软、Alphabet、Netflix和亚马逊等重量级科技股在盘前交易中均下跌约0.3%。在美国盘前交易中，中国科技股下跌<b>腾讯控股和网易等公司</b> <b>是</b> <b>被告知结束对游戏利润的关注。</b>抛售蔓延到美国。网易和阿里巴巴-SW在盘前时段暴跌，突显出市场仍然容易受到政策风险的影响。网易(NTES)下跌6.4%，哔哩哔哩(BILI)下跌6.9%，阿里巴巴-SW(BABA)、拼多多(PDD)和百度(BIDU)等公司也下跌，Roblox、动视暴雪、艺电和Take-Two跌幅均在0.3%至1.6%之间。管理科技相关物业的Digital Realty在与银行签订625万股远期销售协议后，股价下跌3.6%，每股价格为160.50美元。</blockquote></p><p> Lululemon surged 14% as analysts increased their price targets on the stock after the athletic clothing retailer boosted its outlook for the year and reported 2Q sales that outpaced expectations. The company continues to benefit from the trend toward casual and athleisure fashion, according to Jefferies. Peer Nike (NKE) rises 1.6%.</p><p><blockquote>Lululemon股价飙升14%，此前这家运动服装零售商上调了今年的前景并公布第二季度销售额超出预期，分析师上调了该股的目标价。杰富瑞表示，该公司继续受益于休闲和运动休闲时尚的趋势。同行耐克(NKE)上涨1.6%。</blockquote></p><p> <b>Here are some other notable movers this morning:</b></p><p><blockquote><b>以下是今天早上其他一些值得注意的举措：</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/CRDF\">Cardiff Oncology, Inc.</a> </b>soars 16% after the company said Wednesday that data from a colorectal cancer drug trial showed “robust objective response rate and progression free survival.”</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a> </b>declines 6.8% after reporting a second-quarter loss that was wider than Wall Street projections. It also held a very brief earnings call in which it said it wouldn’t provide guidance. Its peer among the day trader crowd, AMC Entertainment (AMC) also slips 2.7%.</li>  <li><b><a href=\"https://laohu8.com/S/HGEN\">Humanigen, Inc.</a></b> shares tumble 53% after the U.S. FDA declined its request for emergency use authorization of lenzilumab to treat newly-hospitalized Covid-19 patients.</li> </ul> <b>In Fx, </b>the dollar slipped after a three-day gain, the JPY and GBP topped the G-10 leaderboard, while EUR holds within Wednesday’s range ahead of today’s ECB meeting. The Bloomberg Dollar Spot Index inched lower and the greenback fell against most of its Group-of-10 peers even as many currencies traded in tight ranges; the Treasury curve bull- flattened modestly. The yen was the top performer among G-10 peers amid haven demand. The euro came off yesterday’s one-week low while Bunds and Italian bonds were little changed before the ECB’s meeting; the pound advanced to a day-high in the European session.</p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/CRDF\">卡迪夫肿瘤公司。</a></b>该公司周三表示，结直肠癌药物试验数据显示“强劲的客观缓解率和无进展生存率”，股价飙升16%。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a></b>第二季度亏损超出华尔街预期，股价下跌6.8%。该公司还举行了一次非常简短的收益看涨期权，其中表示不会提供指导。日内交易者中的同行AMC院线(AMC)也下跌2.7%。</li><li><b><a href=\"https://laohu8.com/S/HGEN\">Humanigen公司。</a></b>美国FDA拒绝了lenzilumab治疗新住院的Covid-19患者的紧急使用授权请求后，股价暴跌53%。</li></ul><b>在Fx中，</b>美元在连续三天上涨后下跌，日元和英镑在G-10排行榜上名列前茅，而欧元在今天的欧洲央行会议之前保持在周三的区间内。彭博美元现货指数小幅走低，美元兑大多数10国集团货币下跌，尽管许多货币窄幅波动；国债曲线小幅走平。由于避险需求，日元在10国集团同行中表现最好。欧元脱离昨日的一周低点，而德国国债和意大利债券在欧洲央行会议前几乎没有变化；英镑在欧洲时段升至日内高点。</blockquote></p><p> <b>In rates,</b> Treasuries held small gains from intermediate sector to long-end of the curve with S&amp;P 500 following declines in FTSE 100 and Euro Stoxx 50. Yields richer by ~1bp across long-end of the curve, flattening 2s10s, 5s30s spreads slightly; 10-year yields around 1.33%, outperforming gilts by almost 3bp. Curve and outright concession have faded ahead of 30-year bond reopening during U.S. afternoon, focal point of U.S. session after ECB policy decision at 7:45am ET.&nbsp; The weekly US auction cycle concludes with $24b 30-year bond sale at 1pm ET; 3- and 10-year auctions drew strong demand. WI 30-year yield at 1.947% is below auction stops since February and ~9bp richer than last month’s, which tailed the WI by 1bp. Peripheral spreads tighten a touch. Gilts bear flatten with the short end cheaper by ~2bps</p><p><blockquote><b>在费率方面，</b>在富时100指数和欧洲斯托克50指数下跌后，标普500国债从中间板块到曲线长端小幅上涨。曲线长端的收益率增加了约1bp，略微拉平了2s10s、5s30s的利差；10年期国债收益率约为1.33%，比英国国债高出近3个基点。在美国下午30年期债券重新开放之前，曲线和彻底的让步已经消退，这是欧洲央行于美国东部时间上午7:45做出政策决定后美国市场的焦点。美国每周拍卖周期以美国东部时间下午1点出售240亿美元30年期债券结束；3年期和10年期拍卖吸引了强劲需求。WI 30年期国债收益率为1.947%，低于2月份以来的拍卖止损点，比上个月高出约9个基点，上个月比WI高出1个基点。外围价差收紧一点。英国国债熊市走平，短端价格下跌约2个基点</blockquote></p><p> <b>In commodities, </b>crude futures were little changed, maintaining Asia’s narrow range. WTI drifts just above $69, Brent near $72.60. Spot gold puts in a ~$5 move to the upside to trade near $1,794/oz. Base metals are well bid with LME nickel and tin outperforming. LME copper reverses Wednesday’s drop, adding 1.4%. Bitcoin fluctuated between gains and losses, trading around $46,000.</p><p><blockquote><b>在大宗商品中，</b>原油期货变化不大，维持亚洲窄幅震荡。WTI原油略高于69美元，布伦特原油接近72.60美元。现货黄金上涨约5美元，交易价格接近1794美元/盎司。基本金属报价良好，LME镍和锡表现出色。LME期铜扭转周三跌势，上涨1.4%。比特币在涨跌之间波动，交易价格在46,000美元左右。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Thursday<blockquote>周四美国市场开盘前的营收</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-09 20:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><ul>  <li>U.S. stock futures fall ahead of jobless claims.</li>  <li>China’s tech stocks slid after&nbsp;<b>firms including Tencent and NetEase</b>&nbsp;<b>were</b>&nbsp;<b>told&nbsp; to end their focus on profit in gaming.</b></li>  <li>GameStop sinks on lack of guidance; Lululemon soars on strong outlook.</li>  <li>Ukraine to become latest country to legalize bitcoin as it goes global</li> </ul> (Sept 9)&nbsp;Futures were pinned in the red on Thursday, pointing to a lower open for Wall Street's regular session, with investors struggling to reconcile a still hot jobs market with an economy that's seen its momentum dented by soaring COVID-19 infections.</p><p><blockquote><ul><li>美国股指期货在初请失业金人数之前下跌。</li><li>中国科技股随后下跌<b>腾讯控股和网易等公司</b> <b>是</b> <b>被告知结束对游戏利润的关注。</b></li><li>游戏驿站因缺乏指导而沉没；Lululemon因强劲的前景而飙升。</li><li>乌克兰将成为最新一个比特币走向全球合法化的国家</li></ul>（9月9日）期货周四收跌，表明华尔街常规交易开盘走低，投资者努力调和仍然火热的就业市场与因新冠肺炎感染飙升而势头减弱的经济。</blockquote></p><p> At 8:07 a.m. ET, Dow E-minis were down 4 points, or 0.01%, S&amp;P 500 E-minis fell 2.25 points, or 0.05% and Nasdaq 100 E-minis dipped 3.25 points, or 0.02%.</p><p><blockquote>美国东部时间上午8:07，道指E-minis下跌4点，跌幅0.01%，标普500 E-minis下跌2.25点，跌幅0.05%，纳斯达克100 E-minis下跌3.25点，跌幅0.02%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/13ef085786e7e3e80d4e763e0f6a298e\" tg-width=\"1231\" tg-height=\"517\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Heavyweight technology stocks including Apple, Microsoft, Alphabet, Netflix and Amazon.com Inc all fell about 0.3% each in premarket trading.&nbsp; In U.S. premarket trading, China’s tech stocks slid after&nbsp;<b>firms including Tencent and NetEase</b>&nbsp;<b>were</b>&nbsp;<b>told&nbsp; to end their focus on profit in gaming.</b>&nbsp;The selloff extended to the&nbsp;U.S. premarket hours&nbsp;when NetEase and Alibaba tumbled, underscoring the market’s continued vulnerability to policy risks. NetEase (NTES) slips 6.4% and Bilibili (BILI) falls 6.9%, while the likes of Alibaba (BABA), Pinduoduo (PDD) and Baidu (BIDU) also dropped as did Roblox, Activision Blizzard, Electronic Art and Take-Two, all down between 0.3% and 1.6%. Digital Realty, which manages technology-related properties, declined 3.6% after entering into forward sale agreements with banks for 6.25 million shares at $160.50 each.</p><p><blockquote>苹果、微软、Alphabet、Netflix和亚马逊等重量级科技股在盘前交易中均下跌约0.3%。在美国盘前交易中，中国科技股下跌<b>腾讯控股和网易等公司</b> <b>是</b> <b>被告知结束对游戏利润的关注。</b>抛售蔓延到美国。网易和阿里巴巴-SW在盘前时段暴跌，突显出市场仍然容易受到政策风险的影响。网易(NTES)下跌6.4%，哔哩哔哩(BILI)下跌6.9%，阿里巴巴-SW(BABA)、拼多多(PDD)和百度(BIDU)等公司也下跌，Roblox、动视暴雪、艺电和Take-Two跌幅均在0.3%至1.6%之间。管理科技相关物业的Digital Realty在与银行签订625万股远期销售协议后，股价下跌3.6%，每股价格为160.50美元。</blockquote></p><p> Lululemon surged 14% as analysts increased their price targets on the stock after the athletic clothing retailer boosted its outlook for the year and reported 2Q sales that outpaced expectations. The company continues to benefit from the trend toward casual and athleisure fashion, according to Jefferies. Peer Nike (NKE) rises 1.6%.</p><p><blockquote>Lululemon股价飙升14%，此前这家运动服装零售商上调了今年的前景并公布第二季度销售额超出预期，分析师上调了该股的目标价。杰富瑞表示，该公司继续受益于休闲和运动休闲时尚的趋势。同行耐克(NKE)上涨1.6%。</blockquote></p><p> <b>Here are some other notable movers this morning:</b></p><p><blockquote><b>以下是今天早上其他一些值得注意的举措：</b></blockquote></p><p> <ul>  <li><b><a href=\"https://laohu8.com/S/CRDF\">Cardiff Oncology, Inc.</a> </b>soars 16% after the company said Wednesday that data from a colorectal cancer drug trial showed “robust objective response rate and progression free survival.”</li>  <li><b><a href=\"https://laohu8.com/S/GME\">GameStop</a> </b>declines 6.8% after reporting a second-quarter loss that was wider than Wall Street projections. It also held a very brief earnings call in which it said it wouldn’t provide guidance. Its peer among the day trader crowd, AMC Entertainment (AMC) also slips 2.7%.</li>  <li><b><a href=\"https://laohu8.com/S/HGEN\">Humanigen, Inc.</a></b> shares tumble 53% after the U.S. FDA declined its request for emergency use authorization of lenzilumab to treat newly-hospitalized Covid-19 patients.</li> </ul> <b>In Fx, </b>the dollar slipped after a three-day gain, the JPY and GBP topped the G-10 leaderboard, while EUR holds within Wednesday’s range ahead of today’s ECB meeting. The Bloomberg Dollar Spot Index inched lower and the greenback fell against most of its Group-of-10 peers even as many currencies traded in tight ranges; the Treasury curve bull- flattened modestly. The yen was the top performer among G-10 peers amid haven demand. The euro came off yesterday’s one-week low while Bunds and Italian bonds were little changed before the ECB’s meeting; the pound advanced to a day-high in the European session.</p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/CRDF\">卡迪夫肿瘤公司。</a></b>该公司周三表示，结直肠癌药物试验数据显示“强劲的客观缓解率和无进展生存率”，股价飙升16%。</li><li><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a></b>第二季度亏损超出华尔街预期，股价下跌6.8%。该公司还举行了一次非常简短的收益看涨期权，其中表示不会提供指导。日内交易者中的同行AMC院线(AMC)也下跌2.7%。</li><li><b><a href=\"https://laohu8.com/S/HGEN\">Humanigen公司。</a></b>美国FDA拒绝了lenzilumab治疗新住院的Covid-19患者的紧急使用授权请求后，股价暴跌53%。</li></ul><b>在Fx中，</b>美元在连续三天上涨后下跌，日元和英镑在G-10排行榜上名列前茅，而欧元在今天的欧洲央行会议之前保持在周三的区间内。彭博美元现货指数小幅走低，美元兑大多数10国集团货币下跌，尽管许多货币窄幅波动；国债曲线小幅走平。由于避险需求，日元在10国集团同行中表现最好。欧元脱离昨日的一周低点，而德国国债和意大利债券在欧洲央行会议前几乎没有变化；英镑在欧洲时段升至日内高点。</blockquote></p><p> <b>In rates,</b> Treasuries held small gains from intermediate sector to long-end of the curve with S&amp;P 500 following declines in FTSE 100 and Euro Stoxx 50. Yields richer by ~1bp across long-end of the curve, flattening 2s10s, 5s30s spreads slightly; 10-year yields around 1.33%, outperforming gilts by almost 3bp. Curve and outright concession have faded ahead of 30-year bond reopening during U.S. afternoon, focal point of U.S. session after ECB policy decision at 7:45am ET.&nbsp; The weekly US auction cycle concludes with $24b 30-year bond sale at 1pm ET; 3- and 10-year auctions drew strong demand. WI 30-year yield at 1.947% is below auction stops since February and ~9bp richer than last month’s, which tailed the WI by 1bp. Peripheral spreads tighten a touch. Gilts bear flatten with the short end cheaper by ~2bps</p><p><blockquote><b>在费率方面，</b>在富时100指数和欧洲斯托克50指数下跌后，标普500国债从中间板块到曲线长端小幅上涨。曲线长端的收益率增加了约1bp，略微拉平了2s10s、5s30s的利差；10年期国债收益率约为1.33%，比英国国债高出近3个基点。在美国下午30年期债券重新开放之前，曲线和彻底的让步已经消退，这是欧洲央行于美国东部时间上午7:45做出政策决定后美国市场的焦点。美国每周拍卖周期以美国东部时间下午1点出售240亿美元30年期债券结束；3年期和10年期拍卖吸引了强劲需求。WI 30年期国债收益率为1.947%，低于2月份以来的拍卖止损点，比上个月高出约9个基点，上个月比WI高出1个基点。外围价差收紧一点。英国国债熊市走平，短端价格下跌约2个基点</blockquote></p><p> <b>In commodities, </b>crude futures were little changed, maintaining Asia’s narrow range. WTI drifts just above $69, Brent near $72.60. Spot gold puts in a ~$5 move to the upside to trade near $1,794/oz. Base metals are well bid with LME nickel and tin outperforming. LME copper reverses Wednesday’s drop, adding 1.4%. Bitcoin fluctuated between gains and losses, trading around $46,000.</p><p><blockquote><b>在大宗商品中，</b>原油期货变化不大，维持亚洲窄幅震荡。WTI原油略高于69美元，布伦特原油接近72.60美元。现货黄金上涨约5美元，交易价格接近1794美元/盎司。基本金属报价良好，LME镍和锡表现出色。LME期铜扭转周三跌势，上涨1.4%。比特币在涨跌之间波动，交易价格在46,000美元左右。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178868825","content_text":"U.S. stock futures fall ahead of jobless claims.\nChina’s tech stocks slid after firms including Tencent and NetEase were told  to end their focus on profit in gaming.\nGameStop sinks on lack of guidance; Lululemon soars on strong outlook.\nUkraine to become latest country to legalize bitcoin as it goes global\n\n(Sept 9) Futures were pinned in the red on Thursday, pointing to a lower open for Wall Street's regular session, with investors struggling to reconcile a still hot jobs market with an economy that's seen its momentum dented by soaring COVID-19 infections.\nAt 8:07 a.m. ET, Dow E-minis were down 4 points, or 0.01%, S&P 500 E-minis fell 2.25 points, or 0.05% and Nasdaq 100 E-minis dipped 3.25 points, or 0.02%.\n\nHeavyweight technology stocks including Apple, Microsoft, Alphabet, Netflix and Amazon.com Inc all fell about 0.3% each in premarket trading.  In U.S. premarket trading, China’s tech stocks slid after firms including Tencent and NetEase were told  to end their focus on profit in gaming. The selloff extended to the U.S. premarket hours when NetEase and Alibaba tumbled, underscoring the market’s continued vulnerability to policy risks. NetEase (NTES) slips 6.4% and Bilibili (BILI) falls 6.9%, while the likes of Alibaba (BABA), Pinduoduo (PDD) and Baidu (BIDU) also dropped as did Roblox, Activision Blizzard, Electronic Art and Take-Two, all down between 0.3% and 1.6%. Digital Realty, which manages technology-related properties, declined 3.6% after entering into forward sale agreements with banks for 6.25 million shares at $160.50 each.\nLululemon surged 14% as analysts increased their price targets on the stock after the athletic clothing retailer boosted its outlook for the year and reported 2Q sales that outpaced expectations. The company continues to benefit from the trend toward casual and athleisure fashion, according to Jefferies. Peer Nike (NKE) rises 1.6%.\nHere are some other notable movers this morning:\n\nCardiff Oncology, Inc. soars 16% after the company said Wednesday that data from a colorectal cancer drug trial showed “robust objective response rate and progression free survival.”\nGameStop declines 6.8% after reporting a second-quarter loss that was wider than Wall Street projections. It also held a very brief earnings call in which it said it wouldn’t provide guidance. Its peer among the day trader crowd, AMC Entertainment (AMC) also slips 2.7%.\nHumanigen, Inc. shares tumble 53% after the U.S. FDA declined its request for emergency use authorization of lenzilumab to treat newly-hospitalized Covid-19 patients.\n\nIn Fx, the dollar slipped after a three-day gain, the JPY and GBP topped the G-10 leaderboard, while EUR holds within Wednesday’s range ahead of today’s ECB meeting. The Bloomberg Dollar Spot Index inched lower and the greenback fell against most of its Group-of-10 peers even as many currencies traded in tight ranges; the Treasury curve bull- flattened modestly. The yen was the top performer among G-10 peers amid haven demand. The euro came off yesterday’s one-week low while Bunds and Italian bonds were little changed before the ECB’s meeting; the pound advanced to a day-high in the European session.\nIn rates, Treasuries held small gains from intermediate sector to long-end of the curve with S&P 500 following declines in FTSE 100 and Euro Stoxx 50. Yields richer by ~1bp across long-end of the curve, flattening 2s10s, 5s30s spreads slightly; 10-year yields around 1.33%, outperforming gilts by almost 3bp. Curve and outright concession have faded ahead of 30-year bond reopening during U.S. afternoon, focal point of U.S. session after ECB policy decision at 7:45am ET.  The weekly US auction cycle concludes with $24b 30-year bond sale at 1pm ET; 3- and 10-year auctions drew strong demand. WI 30-year yield at 1.947% is below auction stops since February and ~9bp richer than last month’s, which tailed the WI by 1bp. Peripheral spreads tighten a touch. Gilts bear flatten with the short end cheaper by ~2bps\nIn commodities, crude futures were little changed, maintaining Asia’s narrow range. WTI drifts just above $69, Brent near $72.60. Spot gold puts in a ~$5 move to the upside to trade near $1,794/oz. Base metals are well bid with LME nickel and tin outperforming. LME copper reverses Wednesday’s drop, adding 1.4%. Bitcoin fluctuated between gains and losses, trading around $46,000.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2442,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836483666,"gmtCreate":1629514426155,"gmtModify":1631889147578,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836483666","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohu8.com/m/news/1151608193?lang=zh_CN&edition=full","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-23 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ON":"安森美半导体","SOXX":"iShares费城交易所半导体ETF","TSM":"台积电","ASML":"阿斯麦","AAPL":"苹果","AMZN":"亚马逊","QCOM":"高通","SNPS":"新思科技","SSNLF":"三星电子","GOOG":"谷歌","GOOGL":"谷歌A","CDNS":"铿腾电子","NVDA":"英伟达"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including Ford cars.","news_type":1,"symbols_score_info":{"GOOG":0.9,"TSM":0.9,"GOOGL":0.9,"ON":0.9,"SSNLF":0.9,"QCOM":0.9,"NVDA":0.9,"ASML":0.9,"SOXX":0.9,"CDNS":0.9,"AAPL":0.9,"AMZN":0.9,"SNPS":0.9}},"isVote":1,"tweetType":1,"viewCount":897,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":876176924,"gmtCreate":1637286418188,"gmtModify":1637286418188,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/876176924","repostId":"1113076388","repostType":2,"repost":{"id":"1113076388","kind":"news","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":1637279525,"share":"https://www.laohu8.com/m/news/1113076388?lang=zh_CN&edition=full","pubTime":"2021-11-19 07:52","market":"hk","language":"zh","title":"昨夜今晨：英伟达领涨科技股！苹果市值再登顶","url":"https://stock-news.laohu8.com/highlight/detail?id=1113076388","media":"老虎资讯综合","summary":"摘要：①美股周四涨跌不一，道指跌0.17%，标普500涨0.34%，纳指涨0.45%；②热门中概股周四收盘大多走低，哔哩哔哩跌超17%，阿里巴巴跌超11%；③周四黄金期货收跌0.5%。\n\n海外市场\n1","content":"<blockquote>\n 摘要：①美股周四涨跌不一，道指跌0.17%，标普500涨0.34%，纳指涨0.45%；②热门中概股周四收盘大多走低，<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>跌超17%，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>跌超11%；③周四黄金期货收跌0.5%。\n</blockquote>\n<p>海外市场</p>\n<p>1、纳指涨0.45%！<a href=\"https://laohu8.com/S/AAPL\">苹果</a>重回全球市值第一</p>\n<p>美股三大指数收盘涨跌不一，道指跌0.17%，标普500指数涨0.34%，纳指涨0.45%。</p>\n<p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>涨超8%创历史新高。消息称苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。苹果股价收涨2.85%至每股157.87美元，市值达到25900亿美元，重回全球第一的宝座。</p>\n<p>公布财报的个股中，英伟达收涨逾8%，创收盘新高；梅西百货（M）收涨逾21%；Kohl’s（KSS）涨超10%；三季度收入和利润均优于预期的BJ’s Wholesale（BJ）涨近20%；三季度营收高于预期的Bath and Body Works（BBWI）涨超5%；季度营业利润高于预期的维多利亚的秘密（VSCO）涨14.8%；思科收跌5.5%，领跌道指成份股；虽然季度收入高于预期但毛利同比下降的Petco（WOOF）跌超13%。</p>\n<p>2、热门中概股周四收盘大多走低 哔哩哔哩跌超17%</p>\n<p>热门中概股重挫，<a href=\"https://laohu8.com/S/VIPS\">唯品会</a>、哔哩哔哩跌超17%，阿里巴巴跌超11%，<a href=\"https://laohu8.com/S/GOTU\">高途</a>跌超6%，<a href=\"https://laohu8.com/S/EDU\">新东方</a>、<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>、<a href=\"https://laohu8.com/S/PDD\">拼多多</a>跌超5%，<a href=\"https://laohu8.com/S/BIDU\">百度</a>跌超4%。</p>\n<p>新能源汽车股中，<a href=\"https://laohu8.com/S/LI\">理想汽车</a>、<a href=\"https://laohu8.com/S/NIO\">蔚来</a>汽车跌超3%，<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>跌超2%。</p>\n<p>3、欧股主要指数全线收跌 <a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数跌0.49%</p>\n<p>周四欧股收盘主要指数普跌，德国DAX指数跌0.1%，法国CAC40指数跌0.21%，英国<a href=\"https://laohu8.com/S/.100.UK\">富时100指数</a>跌0.47%，欧洲斯托克50指数跌0.32%。</p>\n<p>4、周四美国WTI原油期货收高0.8% 布伦特原油收高1.2%</p>\n<p>拜登政府要求印度和日本等亚洲国家释放战略原油储备，以协调努力压低原油价格。但最终，纽约商品交易所12月交割的西德州中质原油(WTI)期货价格上涨65美分，涨幅0.8%，收于每桶79.01美元，盘中最低为77.08美元。12月WTI期货将在周五收盘后到期。</p>\n<p>作为全球原油价格基准的<a href=\"https://laohu8.com/S/ICE\">洲际交易所</a>1月布伦特原油期货价格上涨96美分，涨幅1.2%，收于每桶81.24美元。</p>\n<p>5、周四黄金期货收跌0.5%</p>\n<p>有分析师表示：“过去几周黄金价格一直在连续上涨，交易者获利了结是很自然的。”</p>\n<p>最终，纽约商品交易所12月交割的黄金期货价格下跌8.80美元，跌幅0.5%，收于每盎司1861.40美元。周三黄金期货价格上涨0.9%，创6月11日以来的最高收盘价。</p>\n<p>国际宏观</p>\n<p>1、美国上周初请失业金人数为26.8万人 连续6周减少后首次增加</p>\n<p>美国劳工部周四公布的数据显示，美国至11月13日当周初请失业金人数为26.8万人，为连续6周减少后首次增加。前值为26.7万人，预期26万人。</p>\n<p>美国至11月6日当周续请失业金人数为208万人，前值为216万人，预期212万人。这也是2020年3月14日以来疫情时期的最低水平。</p>\n<p>2、美联储埃文斯：加息时间取决于通胀</p>\n<p>芝加哥联储主席埃文斯称，9月份美联储的经济预测有点过时。明年可能开始加息，加息也可能在2023年开始，这将取决于通货膨胀。他认为，认为2022年加息的必要性并不明显，但这可能是合适的情况。</p>\n<p>3、美学者呼吁美联储加快缩减购债以应对通胀</p>\n<p>美国哈佛大学教授、白宫经济顾问委员会前主席贾森·弗曼17日呼吁美联储加快缩减资产购买规模的速度，到明年3月提前结束资产购买计划，以应对美国高通胀压力。</p>\n<p>4、美国通胀大潮波及网上购物 曾经的折扣天堂也难以幸免</p>\n<p>随着美国经济从疫情中复苏，曾经是折扣和便宜商品天堂的电子商务却已成为稳定的通胀来源。</p>\n<p>根据软件公司<a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Inc.的数据，10月在线物价同比上涨1.9%，环比上涨0.9%。这是Adobe数字物价指数连续第17个月上涨，此前则连跌超过六年。</p>\n<p>5、比尔·盖茨：明年新冠肺炎死亡率和感染率将低于流感</p>\n<p>据报道，<a href=\"https://laohu8.com/S/MSFT\">微软</a>联合创始人比尔·盖茨称，在不出现新变种的前提下，到明年年中，新冠肺炎导致的死亡率和感染率可能会降至低于流感的水平。</p>\n<p>6、土耳其央行降息100个基点，将评估在12月结束降息</p>\n<p>土耳其央行如期将基准回购利率下调100个基点至15%，同时称将评估在12月结束降息。周四美元兑土耳其里拉一度触及11关口，续刷历史新高。土耳其里拉一个月隐含波动率达28.5%，为4月初央行降息以来最高水平。</p>\n<p>公司新闻</p>\n<p>1、苹果据称在汽车上取得重大突破 研发重点瞄向全自动驾驶</p>\n<p>知情人士告诉彭博社，科技巨头苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。截止收盘，苹果公司股价涨2.85%至每股157.85美元，市值达到2.59万亿美元，重回全球第一的宝座。</p>\n<p>2、<a href=\"https://laohu8.com/NW/2184891245\" target=\"_blank\">最靠谱的电动车都有谁？权威的消费者报告来了</a></p>\n<p>电动车市场的浪潮真是一浪接一浪。先是市场为<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>市值超千亿疯狂，又有马斯克抛售特斯拉瞬间将其在11月4日所创历史高位回落21.3%，市值跌破1万亿美元；然后又有电动皮卡“特斯拉后浪”Rivian迎来重磅IPO，市值相继超越福特、通用和大众，一举成为世界第三大汽车制造商之后遭遇投资者获利了结，连续两日狂跌回吐此前连续涨幅。</p>\n<p>3、<a href=\"https://laohu8.com/NW/1167206707\" target=\"_blank\">阿里巴巴第二季度营收2006.9亿元 同比增长29%</a></p>\n<p>11月18日，阿里巴巴集团发布2022财年第二季度财报。财报显示，阿里巴巴第二季度营收2006.9亿元，同比增长29%，第二季度调整后净利润285.2亿元，同比下降39%。</p>\n<p>4、<a href=\"https://laohu8.com/NW/1133950613\" target=\"_blank\">京东第三季度营收2187亿元 同比增长25.5%</a></p>\n<p>11月18日，京东集团发布了2021年第三季度业绩。第三季度净收入为2187亿元，同比增长25.5%。</p>\n<p>5、<a href=\"https://laohu8.com/NW/2184454865\" target=\"_blank\">马斯克：SpaceX有望在2022年1月进行星际飞船首次轨道试飞</a></p>\n<p>11月18日消息，当地时间周三，美国太空探索技术公司SpaceX首席执行官埃隆·马斯克(Elon Musk)表示，该公司有望于2022年1月份对其星际飞船原型进行首次轨道飞行测试，具体情况取决于测试和监管部门的批准。</p>\n<p>6、<a href=\"https://laohu8.com/NW/2184894209\" target=\"_blank\">沙拉连锁店Sweetgreen上市首日暴涨76%！市值达53亿美元</a></p>\n<p>美东时间11月18日周四，美国健康快餐连锁店SweetGreen（NYSE: SG）美国IPO首日开盘上涨逾85.7%，报52.00美元，此前给出的IPO发行价为每股28.00美元，高于其市场宣传的每股23至25美元的范围。据悉，Sweetgreen本次IPO出售了1300万股，筹集了3.64亿美元。</p>\n<p>7、<a href=\"https://laohu8.com/NW/2184894537\" target=\"_blank\">家族继续掌权！普拉达CEO称将在三年内让儿子接班</a></p>\n<p><a href=\"https://laohu8.com/S/01913\">普拉达</a>首席执行官Patrizio Bertelli计划在未来三年内让他的儿子Lorenzo掌管这家意大利时尚公司。<b>接班计划表明普拉达打算让公司的控制权握在家族手中。</b></p>\n<p>8、<a href=\"https://laohu8.com/NW/2184899599\" target=\"_blank\">英伟达收购Arm再遇新阻力：美国监管也插手了</a></p>\n<p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>收购Arm再遇新阻力，美国监管机构对这项交易提出了潜在的反对意见。英伟达周三美股盘后公布财报时，披露了这一交易新障碍，<b>称美国联邦贸易委员会（FTC）已经“表达了对英伟达与Arm交易的担忧”，英伟达称其正在与FTC讨论，采取措施解除FTC的顾虑。英伟达没有透露是什么引发了美国监管的反对，或者它提供了哪些让步。</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>昨夜今晨：英伟达领涨科技股！苹果市值再登顶</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昨夜今晨：英伟达领涨科技股！苹果市值再登顶\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\">2021-11-19 07:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n 摘要：①美股周四涨跌不一，道指跌0.17%，标普500涨0.34%，纳指涨0.45%；②热门中概股周四收盘大多走低，<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>跌超17%，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>跌超11%；③周四黄金期货收跌0.5%。\n</blockquote>\n<p>海外市场</p>\n<p>1、纳指涨0.45%！<a href=\"https://laohu8.com/S/AAPL\">苹果</a>重回全球市值第一</p>\n<p>美股三大指数收盘涨跌不一，道指跌0.17%，标普500指数涨0.34%，纳指涨0.45%。</p>\n<p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>涨超8%创历史新高。消息称苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。苹果股价收涨2.85%至每股157.87美元，市值达到25900亿美元，重回全球第一的宝座。</p>\n<p>公布财报的个股中，英伟达收涨逾8%，创收盘新高；梅西百货（M）收涨逾21%；Kohl’s（KSS）涨超10%；三季度收入和利润均优于预期的BJ’s Wholesale（BJ）涨近20%；三季度营收高于预期的Bath and Body Works（BBWI）涨超5%；季度营业利润高于预期的维多利亚的秘密（VSCO）涨14.8%；思科收跌5.5%，领跌道指成份股；虽然季度收入高于预期但毛利同比下降的Petco（WOOF）跌超13%。</p>\n<p>2、热门中概股周四收盘大多走低 哔哩哔哩跌超17%</p>\n<p>热门中概股重挫，<a href=\"https://laohu8.com/S/VIPS\">唯品会</a>、哔哩哔哩跌超17%，阿里巴巴跌超11%，<a href=\"https://laohu8.com/S/GOTU\">高途</a>跌超6%，<a href=\"https://laohu8.com/S/EDU\">新东方</a>、<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>、<a href=\"https://laohu8.com/S/PDD\">拼多多</a>跌超5%，<a href=\"https://laohu8.com/S/BIDU\">百度</a>跌超4%。</p>\n<p>新能源汽车股中，<a href=\"https://laohu8.com/S/LI\">理想汽车</a>、<a href=\"https://laohu8.com/S/NIO\">蔚来</a>汽车跌超3%，<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>跌超2%。</p>\n<p>3、欧股主要指数全线收跌 <a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数跌0.49%</p>\n<p>周四欧股收盘主要指数普跌，德国DAX指数跌0.1%，法国CAC40指数跌0.21%，英国<a href=\"https://laohu8.com/S/.100.UK\">富时100指数</a>跌0.47%，欧洲斯托克50指数跌0.32%。</p>\n<p>4、周四美国WTI原油期货收高0.8% 布伦特原油收高1.2%</p>\n<p>拜登政府要求印度和日本等亚洲国家释放战略原油储备，以协调努力压低原油价格。但最终，纽约商品交易所12月交割的西德州中质原油(WTI)期货价格上涨65美分，涨幅0.8%，收于每桶79.01美元，盘中最低为77.08美元。12月WTI期货将在周五收盘后到期。</p>\n<p>作为全球原油价格基准的<a href=\"https://laohu8.com/S/ICE\">洲际交易所</a>1月布伦特原油期货价格上涨96美分，涨幅1.2%，收于每桶81.24美元。</p>\n<p>5、周四黄金期货收跌0.5%</p>\n<p>有分析师表示：“过去几周黄金价格一直在连续上涨，交易者获利了结是很自然的。”</p>\n<p>最终，纽约商品交易所12月交割的黄金期货价格下跌8.80美元，跌幅0.5%，收于每盎司1861.40美元。周三黄金期货价格上涨0.9%，创6月11日以来的最高收盘价。</p>\n<p>国际宏观</p>\n<p>1、美国上周初请失业金人数为26.8万人 连续6周减少后首次增加</p>\n<p>美国劳工部周四公布的数据显示，美国至11月13日当周初请失业金人数为26.8万人，为连续6周减少后首次增加。前值为26.7万人，预期26万人。</p>\n<p>美国至11月6日当周续请失业金人数为208万人，前值为216万人，预期212万人。这也是2020年3月14日以来疫情时期的最低水平。</p>\n<p>2、美联储埃文斯：加息时间取决于通胀</p>\n<p>芝加哥联储主席埃文斯称，9月份美联储的经济预测有点过时。明年可能开始加息，加息也可能在2023年开始，这将取决于通货膨胀。他认为，认为2022年加息的必要性并不明显，但这可能是合适的情况。</p>\n<p>3、美学者呼吁美联储加快缩减购债以应对通胀</p>\n<p>美国哈佛大学教授、白宫经济顾问委员会前主席贾森·弗曼17日呼吁美联储加快缩减资产购买规模的速度，到明年3月提前结束资产购买计划，以应对美国高通胀压力。</p>\n<p>4、美国通胀大潮波及网上购物 曾经的折扣天堂也难以幸免</p>\n<p>随着美国经济从疫情中复苏，曾经是折扣和便宜商品天堂的电子商务却已成为稳定的通胀来源。</p>\n<p>根据软件公司<a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Inc.的数据，10月在线物价同比上涨1.9%，环比上涨0.9%。这是Adobe数字物价指数连续第17个月上涨，此前则连跌超过六年。</p>\n<p>5、比尔·盖茨：明年新冠肺炎死亡率和感染率将低于流感</p>\n<p>据报道，<a href=\"https://laohu8.com/S/MSFT\">微软</a>联合创始人比尔·盖茨称，在不出现新变种的前提下，到明年年中，新冠肺炎导致的死亡率和感染率可能会降至低于流感的水平。</p>\n<p>6、土耳其央行降息100个基点，将评估在12月结束降息</p>\n<p>土耳其央行如期将基准回购利率下调100个基点至15%，同时称将评估在12月结束降息。周四美元兑土耳其里拉一度触及11关口，续刷历史新高。土耳其里拉一个月隐含波动率达28.5%，为4月初央行降息以来最高水平。</p>\n<p>公司新闻</p>\n<p>1、苹果据称在汽车上取得重大突破 研发重点瞄向全自动驾驶</p>\n<p>知情人士告诉彭博社，科技巨头苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。截止收盘，苹果公司股价涨2.85%至每股157.85美元，市值达到2.59万亿美元，重回全球第一的宝座。</p>\n<p>2、<a href=\"https://laohu8.com/NW/2184891245\" target=\"_blank\">最靠谱的电动车都有谁？权威的消费者报告来了</a></p>\n<p>电动车市场的浪潮真是一浪接一浪。先是市场为<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>市值超千亿疯狂，又有马斯克抛售特斯拉瞬间将其在11月4日所创历史高位回落21.3%，市值跌破1万亿美元；然后又有电动皮卡“特斯拉后浪”Rivian迎来重磅IPO，市值相继超越福特、通用和大众，一举成为世界第三大汽车制造商之后遭遇投资者获利了结，连续两日狂跌回吐此前连续涨幅。</p>\n<p>3、<a href=\"https://laohu8.com/NW/1167206707\" target=\"_blank\">阿里巴巴第二季度营收2006.9亿元 同比增长29%</a></p>\n<p>11月18日，阿里巴巴集团发布2022财年第二季度财报。财报显示，阿里巴巴第二季度营收2006.9亿元，同比增长29%，第二季度调整后净利润285.2亿元，同比下降39%。</p>\n<p>4、<a href=\"https://laohu8.com/NW/1133950613\" target=\"_blank\">京东第三季度营收2187亿元 同比增长25.5%</a></p>\n<p>11月18日，京东集团发布了2021年第三季度业绩。第三季度净收入为2187亿元，同比增长25.5%。</p>\n<p>5、<a href=\"https://laohu8.com/NW/2184454865\" target=\"_blank\">马斯克：SpaceX有望在2022年1月进行星际飞船首次轨道试飞</a></p>\n<p>11月18日消息，当地时间周三，美国太空探索技术公司SpaceX首席执行官埃隆·马斯克(Elon Musk)表示，该公司有望于2022年1月份对其星际飞船原型进行首次轨道飞行测试，具体情况取决于测试和监管部门的批准。</p>\n<p>6、<a href=\"https://laohu8.com/NW/2184894209\" target=\"_blank\">沙拉连锁店Sweetgreen上市首日暴涨76%！市值达53亿美元</a></p>\n<p>美东时间11月18日周四，美国健康快餐连锁店SweetGreen（NYSE: SG）美国IPO首日开盘上涨逾85.7%，报52.00美元，此前给出的IPO发行价为每股28.00美元，高于其市场宣传的每股23至25美元的范围。据悉，Sweetgreen本次IPO出售了1300万股，筹集了3.64亿美元。</p>\n<p>7、<a href=\"https://laohu8.com/NW/2184894537\" target=\"_blank\">家族继续掌权！普拉达CEO称将在三年内让儿子接班</a></p>\n<p><a href=\"https://laohu8.com/S/01913\">普拉达</a>首席执行官Patrizio Bertelli计划在未来三年内让他的儿子Lorenzo掌管这家意大利时尚公司。<b>接班计划表明普拉达打算让公司的控制权握在家族手中。</b></p>\n<p>8、<a href=\"https://laohu8.com/NW/2184899599\" target=\"_blank\">英伟达收购Arm再遇新阻力：美国监管也插手了</a></p>\n<p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>收购Arm再遇新阻力，美国监管机构对这项交易提出了潜在的反对意见。英伟达周三美股盘后公布财报时，披露了这一交易新障碍，<b>称美国联邦贸易委员会（FTC）已经“表达了对英伟达与Arm交易的担忧”，英伟达称其正在与FTC讨论，采取措施解除FTC的顾虑。英伟达没有透露是什么引发了美国监管的反对，或者它提供了哪些让步。</b></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"159934":"黄金ETF","518880":"黄金ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","NUGT":"二倍做多黄金矿业指数ETF-Direxion","GLD":"黄金ETF-SPDR","GDX":"黄金矿业ETF-VanEck","TTTN":"老虎中美互联网巨头ETF","DUST":"二倍做空黄金矿业指数ETF-Direxion","QNETCN":"纳斯达克中美互联网老虎指数",".DJI":"道琼斯","IAU":"黄金信托ETF-iShares"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113076388","content_text":"摘要：①美股周四涨跌不一，道指跌0.17%，标普500涨0.34%，纳指涨0.45%；②热门中概股周四收盘大多走低，哔哩哔哩跌超17%，阿里巴巴跌超11%；③周四黄金期货收跌0.5%。\n\n海外市场\n1、纳指涨0.45%！苹果重回全球市值第一\n美股三大指数收盘涨跌不一，道指跌0.17%，标普500指数涨0.34%，纳指涨0.45%。\n英伟达涨超8%创历史新高。消息称苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。苹果股价收涨2.85%至每股157.87美元，市值达到25900亿美元，重回全球第一的宝座。\n公布财报的个股中，英伟达收涨逾8%，创收盘新高；梅西百货（M）收涨逾21%；Kohl’s（KSS）涨超10%；三季度收入和利润均优于预期的BJ’s Wholesale（BJ）涨近20%；三季度营收高于预期的Bath and Body Works（BBWI）涨超5%；季度营业利润高于预期的维多利亚的秘密（VSCO）涨14.8%；思科收跌5.5%，领跌道指成份股；虽然季度收入高于预期但毛利同比下降的Petco（WOOF）跌超13%。\n2、热门中概股周四收盘大多走低 哔哩哔哩跌超17%\n热门中概股重挫，唯品会、哔哩哔哩跌超17%，阿里巴巴跌超11%，高途跌超6%，新东方、虎牙、拼多多跌超5%，百度跌超4%。\n新能源汽车股中，理想汽车、蔚来汽车跌超3%，小鹏汽车跌超2%。\n3、欧股主要指数全线收跌 英国富时100指数跌0.49%\n周四欧股收盘主要指数普跌，德国DAX指数跌0.1%，法国CAC40指数跌0.21%，英国富时100指数跌0.47%，欧洲斯托克50指数跌0.32%。\n4、周四美国WTI原油期货收高0.8% 布伦特原油收高1.2%\n拜登政府要求印度和日本等亚洲国家释放战略原油储备，以协调努力压低原油价格。但最终，纽约商品交易所12月交割的西德州中质原油(WTI)期货价格上涨65美分，涨幅0.8%，收于每桶79.01美元，盘中最低为77.08美元。12月WTI期货将在周五收盘后到期。\n作为全球原油价格基准的洲际交易所1月布伦特原油期货价格上涨96美分，涨幅1.2%，收于每桶81.24美元。\n5、周四黄金期货收跌0.5%\n有分析师表示：“过去几周黄金价格一直在连续上涨，交易者获利了结是很自然的。”\n最终，纽约商品交易所12月交割的黄金期货价格下跌8.80美元，跌幅0.5%，收于每盎司1861.40美元。周三黄金期货价格上涨0.9%，创6月11日以来的最高收盘价。\n国际宏观\n1、美国上周初请失业金人数为26.8万人 连续6周减少后首次增加\n美国劳工部周四公布的数据显示，美国至11月13日当周初请失业金人数为26.8万人，为连续6周减少后首次增加。前值为26.7万人，预期26万人。\n美国至11月6日当周续请失业金人数为208万人，前值为216万人，预期212万人。这也是2020年3月14日以来疫情时期的最低水平。\n2、美联储埃文斯：加息时间取决于通胀\n芝加哥联储主席埃文斯称，9月份美联储的经济预测有点过时。明年可能开始加息，加息也可能在2023年开始，这将取决于通货膨胀。他认为，认为2022年加息的必要性并不明显，但这可能是合适的情况。\n3、美学者呼吁美联储加快缩减购债以应对通胀\n美国哈佛大学教授、白宫经济顾问委员会前主席贾森·弗曼17日呼吁美联储加快缩减资产购买规模的速度，到明年3月提前结束资产购买计划，以应对美国高通胀压力。\n4、美国通胀大潮波及网上购物 曾经的折扣天堂也难以幸免\n随着美国经济从疫情中复苏，曾经是折扣和便宜商品天堂的电子商务却已成为稳定的通胀来源。\n根据软件公司Adobe Inc.的数据，10月在线物价同比上涨1.9%，环比上涨0.9%。这是Adobe数字物价指数连续第17个月上涨，此前则连跌超过六年。\n5、比尔·盖茨：明年新冠肺炎死亡率和感染率将低于流感\n据报道，微软联合创始人比尔·盖茨称，在不出现新变种的前提下，到明年年中，新冠肺炎导致的死亡率和感染率可能会降至低于流感的水平。\n6、土耳其央行降息100个基点，将评估在12月结束降息\n土耳其央行如期将基准回购利率下调100个基点至15%，同时称将评估在12月结束降息。周四美元兑土耳其里拉一度触及11关口，续刷历史新高。土耳其里拉一个月隐含波动率达28.5%，为4月初央行降息以来最高水平。\n公司新闻\n1、苹果据称在汽车上取得重大突破 研发重点瞄向全自动驾驶\n知情人士告诉彭博社，科技巨头苹果公司在推进其电动汽车的开发项目上有了重大突破，并将研发重点转向全自动驾驶技术。截止收盘，苹果公司股价涨2.85%至每股157.85美元，市值达到2.59万亿美元，重回全球第一的宝座。\n2、最靠谱的电动车都有谁？权威的消费者报告来了\n电动车市场的浪潮真是一浪接一浪。先是市场为特斯拉市值超千亿疯狂，又有马斯克抛售特斯拉瞬间将其在11月4日所创历史高位回落21.3%，市值跌破1万亿美元；然后又有电动皮卡“特斯拉后浪”Rivian迎来重磅IPO，市值相继超越福特、通用和大众，一举成为世界第三大汽车制造商之后遭遇投资者获利了结，连续两日狂跌回吐此前连续涨幅。\n3、阿里巴巴第二季度营收2006.9亿元 同比增长29%\n11月18日，阿里巴巴集团发布2022财年第二季度财报。财报显示，阿里巴巴第二季度营收2006.9亿元，同比增长29%，第二季度调整后净利润285.2亿元，同比下降39%。\n4、京东第三季度营收2187亿元 同比增长25.5%\n11月18日，京东集团发布了2021年第三季度业绩。第三季度净收入为2187亿元，同比增长25.5%。\n5、马斯克：SpaceX有望在2022年1月进行星际飞船首次轨道试飞\n11月18日消息，当地时间周三，美国太空探索技术公司SpaceX首席执行官埃隆·马斯克(Elon Musk)表示，该公司有望于2022年1月份对其星际飞船原型进行首次轨道飞行测试，具体情况取决于测试和监管部门的批准。\n6、沙拉连锁店Sweetgreen上市首日暴涨76%！市值达53亿美元\n美东时间11月18日周四，美国健康快餐连锁店SweetGreen（NYSE: SG）美国IPO首日开盘上涨逾85.7%，报52.00美元，此前给出的IPO发行价为每股28.00美元，高于其市场宣传的每股23至25美元的范围。据悉，Sweetgreen本次IPO出售了1300万股，筹集了3.64亿美元。\n7、家族继续掌权！普拉达CEO称将在三年内让儿子接班\n普拉达首席执行官Patrizio Bertelli计划在未来三年内让他的儿子Lorenzo掌管这家意大利时尚公司。接班计划表明普拉达打算让公司的控制权握在家族手中。\n8、英伟达收购Arm再遇新阻力：美国监管也插手了\n英伟达收购Arm再遇新阻力，美国监管机构对这项交易提出了潜在的反对意见。英伟达周三美股盘后公布财报时，披露了这一交易新障碍，称美国联邦贸易委员会（FTC）已经“表达了对英伟达与Arm交易的担忧”，英伟达称其正在与FTC讨论，采取措施解除FTC的顾虑。英伟达没有透露是什么引发了美国监管的反对，或者它提供了哪些让步。","news_type":1,"symbols_score_info":{"159934":0.9,"518880":0.9,"GLD":0.9,"TTTN":0.9,".DJI":0.9,"GCmain":0.9,".IXIC":0.9,"IAU":0.9,"SGCmain":0.9,"SGUmain":0.9,".SPX":0.9,"DUST":0.9,"GDX":0.9,"QNETCN":0.9,"MGCmain":0.9,"NUGT":0.9}},"isVote":1,"tweetType":1,"viewCount":2295,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":814576139,"gmtCreate":1630852456221,"gmtModify":1631889147551,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814576139","repostId":"1157895022","repostType":4,"repost":{"id":"1157895022","kind":"news","pubTimestamp":1630810619,"share":"https://www.laohu8.com/m/news/1157895022?lang=zh_CN&edition=full","pubTime":"2021-09-05 10:56","market":"us","language":"en","title":"Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157895022","media":"MarketWatch","summary":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do ","content":"<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯·霍华德(Vance Howard)的HCM战术增长基金在谨慎的情况下让您进出股市。到目前为止，他的计算机科学家团队的策略已经得到了回报。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市中收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>那是每个人的梦想，对吧？投资者万斯·霍华德认为他已经找到了。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>霍华德和他的一小队计算机程序员在佐治亚州罗斯威尔的资本管理公司工作。，有一个量化系统，张贴巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的HCM战术增长基金HCMGX,+0.35%在过去五年中的年化增长率比罗素1000基准指数和大型混合基金类别高出8.5-10.4个百分点。这不是一个小壮举，不仅因为它必须克服2.22%的费用。战胜市场并不容易。他的HCM Dividend Sector PlusHCMQX,-0.05%)和HCM Income PlusHCMLX,+0.30%基金也表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详述。（其中包括：潜在的长期表现不佳和定期的税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化分析师从不分享他们专有系统的所有细节，但正如你将看到的，霍华德分享了很多。这位德克萨斯州牧场主有很多基于“马的感觉”的好建议——考虑到他对市场富有感染力的热情，以及他三十年的职业经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12只交易所交易基金(ETF)和四只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化让我们注定要失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以便在长时间没有食物之前储存卡路里。但在市场中，对恐惧和贪婪的情绪采取行动总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们被设定为相信和人群在一起会带来安全。如果你是稀树草原上的斑马，如果你单干，你更有可能被捕食者吃掉。这里的问题是，成为人群的一部分——以及人群心理——让我们变得愚蠢到纯粹的情感层面。这就是为什么人群中的人会做他们自己永远不会做的可怕的事情。你有多聪明并不重要。当你加入一个人群时，你会失去很多智商点。基本情绪占了上风。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做得好，你必须抵制这些倾向。“个人投资者和基金经理犯的最大错误之一就是变得情绪化，”霍华德说。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：有一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>驱除情绪，要有一个系统。“不要怀疑它，”霍华德说。“这可以防止你被大流行或阿富汗吓出市场。”他评级了他的系统HCM-购买线。它基本上是一个动量和趋势跟踪系统——通常在市场上运行良好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔500SPX（-0.03%）或道琼斯工业平均指数DJIA（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌6.5%，他就再卖出35%。他很少100%现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“如果买入线为正，无论如何我们都会长期持有，”他说。“我们通过让数学来决定，将所有情感从等式中剔除。”</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多信息见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统还必须告诉你什么时候回去。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“这就是大多数人搞砸的地方，”他说。“他们退出市场，不知道什么时候才能重新进入。”当他的定制指数连续六个交易日高于其移动平均线时，HCM-买入线会发出买入信号，然后继续高于这六天触及的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个评级精确市场顶部或底部的系统。相反，买入线让霍华德在85%的时间里远离低迷的市场，在85%的好时光里远离。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“如果我们能够始终如一地做到这一点，我们就会获得更高的回报和更少的生活压力，”他说。“在一盘糟糕的磁带中全力以赴一点也不好玩。”</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定能让他出局。他经常买入那些回调。快速反弹是有意义的，因为从底部恢复往往会很快。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“HCM-BuyLine消除了整个过程中的所有情绪，”霍华德说。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要和磁带作对</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂·茨威格经典著作《在华尔街获胜》中的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“你必须站在市场的正确一边，”霍华德表示同意。“如果你试图在糟糕的市场中做多，那是很痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“有时候，不赔钱才是你想要的，”他说。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要仅仅因为市场创下新高就变得谨慎——就像现在这样。你应该喜欢新高，因为这是市场力量的标志，可能会持续下去。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第四课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德不使用衍生品、掉期或指数期权等深奥工具。他甚至不交易外国股票或货币。这对个人投资者来说令人耳目一新，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“你不必交易疯狂的东西，”他说。“你可以交易普通的ETF并击败所有人。”</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做长。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-购买线非常积极。我们100%参与，”霍华德说。“市场正在扩大。它变得相当令人兴奋。我们认为它不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有现金都在观望。“如果新冠疫情有所缓解，我们可能会看到大幅反弹。我们可能会以一个伟大的秋季[季节]结束。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德也使用动量指标来选择股票和ETF。对于行业，他倾向于以下几点。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过iShares US HealthcareIYH(-0.04%)和ProShares Ultra Health CareRXL(+0.12%)ETF进行交易。他变得更加看好生物技术，他通过iShares Biotechnology ETFIBB进行投资，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过iShares US Consumer ServicesIYC(-0.30%)进行交易的非必需消费品，以及通过US Global JetsJETS(-1.17%)进行交易的航空公司。他还喜欢通过Invesco QQQ TrustQQQ(+0.31%)、iShares US TechnologyIYW(+0.50%)进行科技投资和iShares半导体SOXX，+0.75%。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他喜欢Vanguard Small-Cap Growth Index FundVBK，+0.07%的小盘股。以及SPDR Bloomberg Barclays可转换证券CWB，+0.64%和iShares可转换债券ICVT，+0.37%的可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个人名称，他特别提到了科技股中的微软MSFT(-0.00%)和苹果AAPL(+0.42%)，以及亚马逊MAMZN(+0.43%)和特斯拉TSLA(+0.16%)。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>另请考虑Howard的两只ETF：HCM Defender 100 IndexQQH，+0.62%和HCM Defender 500 IndexLGH，+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌1%-3%时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的HCM战术增长基金自2015年推出以来，曾连续两年表现不佳，涨幅为1.5%至8.8%。随后，该基金卷土重来，实现了上述非常积极的五年优异表现。投资他的系统需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，每个经理人，包括沃伦·巴菲特，都可能有一段时间表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“我们正处于赔率游戏中，”他说。“即使在赔率游戏中，你也可能会遇到一两手糟糕的牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年140%。这意味着山姆大叔在好年景中会得到很大的提成。因此，如果您购买霍华德的基金，您可能希望在避税账户中购买。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Beat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBeat the market with this quant system that’s very bullish on stocks at record highs<blockquote>利用这个非常看好历史新高股票的量化系统击败市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-05 10:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.</b>  Imagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.</p><p><blockquote><b>万斯·霍华德(Vance Howard)的HCM战术增长基金在谨慎的情况下让您进出股市。到目前为止，他的计算机科学家团队的策略已经得到了回报。</b>想象一下，当你坐下来享受生活时，你有一台赚钱机器在股市中收获收益。</blockquote></p><p> That’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.</p><p><blockquote>那是每个人的梦想，对吧？投资者万斯·霍华德认为他已经找到了。</blockquote></p><p> Howard and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.</p><p><blockquote>霍华德和他的一小队计算机程序员在佐治亚州罗斯威尔的资本管理公司工作。，有一个量化系统，张贴巨大的回报。</blockquote></p><p> His HCM Tactical Growth Fund&nbsp;HCMGX,+0.35%beats its Russell 1000&nbsp;benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.</p><p><blockquote>根据晨星公司的数据，他的HCM战术增长基金HCMGX,+0.35%在过去五年中的年化增长率比罗素1000基准指数和大型混合基金类别高出8.5-10.4个百分点。这不是一个小壮举，不仅因为它必须克服2.22%的费用。战胜市场并不容易。他的HCM Dividend Sector PlusHCMQX,-0.05%)和HCM Income PlusHCMLX,+0.30%基金也表现类似。</blockquote></p><p> There are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?</p><p><blockquote>有缺点，我在下面详述。（其中包括：潜在的长期表现不佳和定期的税单。）但首先，我们能从这位赢家身上学到什么？</blockquote></p><p> So-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.</p><p><blockquote>所谓的量化分析师从不分享他们专有系统的所有细节，但正如你将看到的，霍华德分享了很多。这位德克萨斯州牧场主有很多基于“马的感觉”的好建议——考虑到他对市场富有感染力的热情，以及他三十年的职业经验，这并不奇怪。</blockquote></p><p> Here are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.</p><p><blockquote>以下是最近对他的采访中的五个教训、12只交易所交易基金(ETF)和四只值得考虑的股票。</blockquote></p><p> <b>Lesson #1: Don’t be emotional</b></p><p><blockquote><b>第一课：不要情绪化</b></blockquote></p><p> It’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.</p><p><blockquote>难怪这么多人在市场上表现不佳。进化让我们注定要失败。为了生存，我们学会了逃避让我们害怕的事情。渴望更多令人愉快的东西——比如甜食或脂肪，以便在长时间没有食物之前储存卡路里。但在市场中，对恐惧和贪婪的情绪采取行动总是会让我们在错误的时间做错误的事情。底部卖出，顶部买入。</blockquote></p><p> Likewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.</p><p><blockquote>同样，我们被设定为相信和人群在一起会带来安全。如果你是稀树草原上的斑马，如果你单干，你更有可能被捕食者吃掉。这里的问题是，成为人群的一部分——以及人群心理——让我们变得愚蠢到纯粹的情感层面。这就是为什么人群中的人会做他们自己永远不会做的可怕的事情。你有多聪明并不重要。当你加入一个人群时，你会失去很多智商点。基本情绪占了上风。</blockquote></p><p> To do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”</p><p><blockquote>要想在市场上做得好，你必须抵制这些倾向。“个人投资者和基金经理犯的最大错误之一就是变得情绪化，”霍华德说。“放下你的情绪。”</blockquote></p><p> <b>Lesson #2: Have a system and stick to it</b></p><p><blockquote><b>第二课：有一个系统并坚持下去</b></blockquote></p><p> To exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.</p><p><blockquote>驱除情绪，要有一个系统。“不要怀疑它，”霍华德说。“这可以防止你被大流行或阿富汗吓出市场。”他评级了他的系统HCM-购买线。它基本上是一个动量和趋势跟踪系统——通常在市场上运行良好。</blockquote></p><p> The HCM-BuyLine basically works like this. First, rather than use the S&amp;P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.</p><p><blockquote>HCM-BuyLine基本上是这样工作的。首先，霍华德没有使用标准普尔500SPX（-0.03%）或道琼斯工业平均指数DJIA（-0.21%），而是混合了几个股票指数来创建自己的指数。然后他使用移动平均线来告诉他市场是处于上升趋势还是下降趋势。</blockquote></p><p> When the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.</p><p><blockquote>当移动平均线下跌3.5%时，他卖出35%。如果下跌6.5%，他就再卖出35%。他很少100%现金。</blockquote></p><p> “If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”</p><p><blockquote>“如果买入线为正，无论如何我们都会长期持有，”他说。“我们通过让数学来决定，将所有情感从等式中剔除。”</blockquote></p><p> Right now, it’s bullish. (More on this below.)</p><p><blockquote>目前，情况看涨。（更多信息见下文。）</blockquote></p><p> Your system also has to tell you when to get back in.</p><p><blockquote>你的系统还必须告诉你什么时候回去。</blockquote></p><p> “That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.</p><p><blockquote>“这就是大多数人搞砸的地方，”他说。“他们退出市场，不知道什么时候才能重新进入。”当他的定制指数连续六个交易日高于其移动平均线时，HCM-买入线会发出买入信号，然后继续高于这六天触及的高点。</blockquote></p><p> You don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.</p><p><blockquote>你不需要一个评级精确市场顶部或底部的系统。相反，买入线让霍华德在85%的时间里远离低迷的市场，在85%的好时光里远离。</blockquote></p><p> “If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”</p><p><blockquote>“如果我们能够始终如一地做到这一点，我们就会获得更高的回报和更少的生活压力，”他说。“在一盘糟糕的磁带中全力以赴一点也不好玩。”</blockquote></p><p> His system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.</p><p><blockquote>他的系统让他退出市场很慢，但让他回来很快。即使是10%的修正也不一定能让他出局。他经常买入那些回调。快速反弹是有意义的，因为从底部恢复往往会很快。</blockquote></p><p> “The HCM-BuyLine takes all the emotion out of the process,” says Howard.</p><p><blockquote>“HCM-BuyLine消除了整个过程中的所有情绪，”霍华德说。</blockquote></p><p> <b>Lesson #3: Don’t fight the tape</b></p><p><blockquote><b>第三课：不要和磁带作对</b></blockquote></p><p> This concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”</p><p><blockquote>这一概念是马蒂·茨威格经典著作《在华尔街获胜》中的核心智慧之一。</blockquote></p><p></p><p> “You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”</p><p><blockquote>“你必须站在市场的正确一边，”霍华德表示同意。“如果你试图在糟糕的市场中做多，那是很痛苦的。”</blockquote></p><p> In other words, don’t try to be a hero.</p><p><blockquote>换句话说，不要试图成为英雄。</blockquote></p><p> “Sometimes, not losing money is where you want to be,” he says.</p><p><blockquote>“有时候，不赔钱才是你想要的，”他说。</blockquote></p><p> Likewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.</p><p><blockquote>同样，不要仅仅因为市场创下新高就变得谨慎——就像现在这样。你应该喜欢新高，因为这是市场力量的标志，可能会持续下去。</blockquote></p><p> <b>Lesson #4: Keep it simple</b></p><p><blockquote><b>第四课：保持简单</b></blockquote></p><p> As you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.</p><p><blockquote>正如您将在下面看到的，霍华德不使用衍生品、掉期或指数期权等深奥工具。他甚至不交易外国股票或货币。这对个人投资者来说令人耳目一新，因为我们更难获得这些工具。</blockquote></p><p> “You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”</p><p><blockquote>“你不必交易疯狂的东西，”他说。“你可以交易普通的ETF并击败所有人。”</blockquote></p><p> <b>Lesson #5: How to trade the current market</b></p><p><blockquote><b>第5课：如何交易当前市场</b></blockquote></p><p> First, be long.</p><p><blockquote>首先，做长。</blockquote></p><p> “The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”</p><p><blockquote>“HCM-购买线非常积极。我们100%参与，”霍华德说。“市场正在扩大。它变得相当令人兴奋。我们认为它不会很快好转。我们正在买入回调。”</blockquote></p><p> One bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”</p><p><blockquote>一个看涨信号是所有现金都在观望。“如果新冠疫情有所缓解，我们可能会看到大幅反弹。我们可能会以一个伟大的秋季[季节]结束。”</blockquote></p><p> Howard uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.</p><p><blockquote>霍华德也使用动量指标来选择股票和ETF。对于行业，他倾向于以下几点。</blockquote></p><p> He likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.</p><p><blockquote>他喜欢医疗保健，可通过iShares US HealthcareIYH(-0.04%)和ProShares Ultra Health CareRXL(+0.12%)ETF进行交易。他变得更加看好生物技术，他通过iShares Biotechnology ETFIBB进行投资，-0.11%。</blockquote></p><p> He likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and&nbsp;iShares SemiconductorSOXX,+0.75%.</p><p><blockquote>他喜欢通过iShares US Consumer ServicesIYC(-0.30%)进行交易的非必需消费品，以及通过US Global JetsJETS(-1.17%)进行交易的航空公司。他还喜欢通过Invesco QQQ TrustQQQ(+0.31%)、iShares US TechnologyIYW(+0.50%)进行科技投资和iShares半导体SOXX，+0.75%。</blockquote></p><p> He likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.</p><p><blockquote>他喜欢Vanguard Small-Cap Growth Index FundVBK，+0.07%的小盘股。以及SPDR Bloomberg Barclays可转换证券CWB，+0.64%和iShares可转换债券ICVT，+0.37%的可转换债券。</blockquote></p><p> As for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.</p><p><blockquote>至于个人名称，他特别提到了科技股中的微软MSFT(-0.00%)和苹果AAPL(+0.42%)，以及亚马逊MAMZN(+0.43%)和特斯拉TSLA(+0.16%)。</blockquote></p><p> Also consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.</p><p><blockquote>另请考虑Howard的两只ETF：HCM Defender 100 IndexQQH，+0.62%和HCM Defender 500 IndexLGH，+1.32%。</blockquote></p><p> He prefers to add to holdings on 1%-3% dips.</p><p><blockquote>他更喜欢在下跌1%-3%时增持。</blockquote></p><p> <b>A few drawbacks</b></p><p><blockquote><b>一些缺点</b></blockquote></p><p> His HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.</p><p><blockquote>他的HCM战术增长基金自2015年推出以来，曾连续两年表现不佳，涨幅为1.5%至8.8%。随后，该基金卷土重来，实现了上述非常积极的五年优异表现。投资他的系统需要耐心。</blockquote></p><p> Every manager, including Warren Buffett, can have a stretch of underperformance, says Howard.</p><p><blockquote>霍华德说，每个经理人，包括沃伦·巴菲特，都可能有一段时间表现不佳。</blockquote></p><p> “We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”</p><p><blockquote>“我们正处于赔率游戏中，”他说。“即使在赔率游戏中，你也可能会遇到一两手糟糕的牌。”</blockquote></p><p> Another challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.</p><p><blockquote>另一个挑战是高流动率，战术增长每年140%。这意味着山姆大叔在好年景中会得到很大的提成。因此，如果您购买霍华德的基金，您可能希望在避税账户中购买。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/beat-the-market-with-this-quant-system-thats-very-bullish-on-stocks-at-record-highs-11630761531?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157895022","content_text":"Vance Howard’s HCM Tactical Growth Fund moves you in and out of the stock market when prudent to do so. So far his team of computer scientists’ strategy has paid off.\n\nImagine you had a money-making machine to harvest gains in the stock market while you sat back to enjoy life.\nThat’s everyone’s dream, right? Investor Vance Howard thinks he’s found it.\nHoward and his small army of computer programmers atHoward Capital Managementin Roswell, Ga., have a quantitative system that posts great returns.\nHis HCM Tactical Growth Fund HCMGX,+0.35%beats its Russell 1000 benchmark index and large-blend fund category by 8.5-10.4 percentage points annualized over the past five years, according to Morningstar. That is no small feat, and not only because it has to overcome a 2.22% fee. Beating the market is simply not easy. His HCM Dividend Sector PlusHCMQX,-0.05%) and HCM Income PlusHCMLX,+0.30%funds post similar outperformance.\nThere are drawbacks, which I detail below. (Among them: Potentially long stretches of underperformance and regular tax bills.) But first, what can we learn from this winner?\nSo-called quants never share all the details of their proprietary systems, but Howard shares a lot, as you’ll see. And this Texas rancher has a lot of good advice based on “horse sense” — not surprising, given his infectious passion for the markets, and his three decades of experience as a pro.\nHere are five lessons, 12 exchange traded funds (ETFs) and four stocks to consider, from a recent interview with him.\nLesson #1: Don’t be emotional\nIt’s no surprise so many people do poorly in the market. Evolution has programmed us to fail. For survival, we’ve learned to run from things that frightens us. And crave more of things that are pleasurable — like sweets or fats to store calories ahead of what might be a long stretch without food. But in the market, acting on the emotions of fear and greed invariably make us do the wrong thing at the wrong time. Sell at the bottom, buy at the top.\nLikewise, we’re programmed to believe being with the crowd brings safety. If you’re a zebra on the Savanna, you are more likely to get picked off by a predator if you go it alone. The problem here is being part of a crowd — and crowd psychology — dumb us down to a purely emotional level. This is why people in crowds do terrible things they would never do on their own. It doesn’t matter how smart you are. When you join a crowd, you lose a lot of IQ points. Base emotions take over.\nTo do well in the market, you have to counteract these tendencies. “One of the biggest mistakes individual investors and money managers make is getting emotional,” says Howard. “Let your emotions go.”\nLesson #2: Have a system and stick to it\nTo exorcise emotion, have a system. “And don’t second guess it,” says Howard. “This keeps you from letting the pandemic or Afghanistan scare you out of the market.” He calls his system the HCM-BuyLine. It is basically a momentum and trend-following system — which often works well in the markets.\nThe HCM-BuyLine basically works like this. First, rather than use the S&P 500SPX,-0.03%or the Dow Jones Industrial AverageDJIA,-0.21%,Howard blends several stock indices to create his own index. Then he uses a moving average that tells him whether the market is in an uptrend or downtrend.\nWhen the moving average drops 3.5%, he sells 35%. If it drops 6.5%, he sells another 35%. He rarely goes to 100% cash.\n“If the BuyLine is positive, we will stay long no matter what,” he says. “We take all the emotion out of the equation by letting the math decide.”\nRight now, it’s bullish. (More on this below.)\nYour system also has to tell you when to get back in.\n“That’s where most people screw up,” he says. “They get out of the market, and they don’t know when to get back in.” The HCM-BuyLine gives a buy signal when his custom index trades above its moving average for six consecutive sessions, and then goes on to trade above the high hit during those six days.\nYou don’t need a system that calls exact market tops or bottoms. Instead, the BuyLine keeps Howard out of down markets 85% of the time, and in for 85% of the good times.\n“If we can do that consistently, we have superior returns and a less stressful life,” he says. “Being all in during a bad tape is no fun.”\nHis system is slow to get him out of the market, but quick to get him back in. Not even a 10% correction will necessarily move him out. He’s often buying those pullbacks. Getting back in fast makes sense, because recoveries off bottoms tend to happen fast.\n“The HCM-BuyLine takes all the emotion out of the process,” says Howard.\nLesson #3: Don’t fight the tape\nThis concept is one of the core pieces of wisdom from Marty Zweig’s classic book, “Winning on Wall Street.”\n“You have to stay on the right side of market,” agrees Howard. “If you try to trade long in a bad market, it is painful.”\nIn other words, don’t try to be a hero.\n“Sometimes, not losing money is where you want to be,” he says.\nLikewise, don’t turn cautious just because the market hits new highs — like now. You should love new highs, because it is a sign of market strength that may likely endure.\nLesson #4: Keep it simple\nAs you’ll see below, Howard doesn’t use esoteric instruments such as derivatives, swaps or index options. He doesn’t even trade foreign stocks or currencies. This is refreshing for individual investors, because we have a harder time accessing those tools.\n“You don’t have to trade crazy stuff,” he says. “You can trade plain-vanilla ETFs and beat everybody out there.”\nLesson #5: How to trade the current market\nFirst, be long.\n“The HCM-BuyLine is very positive. We are 100% in,” says Howard. “The market is broadening out. It is getting pretty exciting. We do not see it turn around any time soon. We are buying pullbacks.”\nOne bullish signal is all the cash on the sidelines. “If there is any relief in Covid, we may see a big rally. We may end up with a great fall [season].”\nHoward uses momentum indicators to select stocks and ETFs, too. For sectors he favors the following.\nHe likes health care, tradable through the iShares US HealthcareIYH,-0.04%and ProShares Ultra Health CareRXL,+0.12%ETFs. He’s turning more bullish on biotech, which he plays via the iShares Biotechnology ETFIBB,-0.11%.\nHe likes consumer discretionary tradable through the iShares US Consumer ServicesIYC,-0.30%,and airlines via US Global JetsJETS,-1.17%.He also likes tech exposure via the Invesco QQQ TrustQQQ,+0.31%,iShares US TechnologyIYW,+0.50%and iShares SemiconductorSOXX,+0.75%.\nHe likes small-caps via the Vanguard Small-Cap Growth Index FundVBK,+0.07%.And convertible bonds via SPDR Bloomberg Barclays Convertible SecuritiesCWB,+0.64%and iShares Convertible BondICVT,+0.37%.\nAs for individual names, he singles out MicrosoftMSFT,-0.00%and AppleAAPL,+0.42%in tech, as well as Amazon.comAMZN,+0.43%and TeslaTSLA,+0.16%.\nAlso consider Howard’s two ETFs: The HCM Defender 100 IndexQQH,+0.62%and HCM Defender 500 IndexLGH,+1.32%.\nHe prefers to add to holdings on 1%-3% dips.\nA few drawbacks\nHis HCM Tactical Growth fund has a history of posting two-year stretches of underperformance of 1.5% to 8.8%, since it was launched in 2015. The fund then came roaring back to net the very positive five-year outperformance cited above. Investing in his system can require patience.\nEvery manager, including Warren Buffett, can have a stretch of underperformance, says Howard.\n“We are in the odds game,” he says. “Even in the odds game, you can have a bad hand or two thrown at you.”\nAnother challenge is the high turnover, which is 140% a year for Tactical Growth. This means Uncle Sam takes a big cut in the good years. So if you buy Howard’s funds, you may want to do so in a tax-protected account.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831867769,"gmtCreate":1629301448451,"gmtModify":1631889147574,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/831867769","repostId":"2160379017","repostType":4,"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815496140,"gmtCreate":1630711329180,"gmtModify":1631889147555,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815496140","repostId":"2164803577","repostType":4,"isVote":1,"tweetType":1,"viewCount":2511,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815216108,"gmtCreate":1630680218504,"gmtModify":1631889147556,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815216108","repostId":"2164872049","repostType":4,"repost":{"id":"2164872049","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1630679468,"share":"https://www.laohu8.com/m/news/2164872049?lang=zh_CN&edition=full","pubTime":"2021-09-03 22:31","market":"us","language":"en","title":"Zooming In On Zoom's Solid But Not Good Enough Results<blockquote>放大Zoom可靠但不够好的结果</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2164872049","media":"Benzinga","summary":"Despite logging its first billion-dollar quarter, the stock of Zoom Video Communications (NASDAQ: ZM) fell almost 11% on Monday after the company posted a higher-than-expected earnings forecast for the full year. The revenue guidance exactly met expectations, but sales-growth rates fall to new lows.","content":"<p>Despite logging its first billion-dollar quarter, the stock of&nbsp;<b>Zoom</b>&nbsp;<b>Video Communications</b> (NASDAQ:ZM) fell almost 11% on Monday after the company posted a higher-than-expected earnings forecast for the full year. The revenue guidance exactly met expectations, but sales-growth rates fall to new lows. In simple words, the video platform has continued to grow, but not at the overly optimistic pace that analysts expected.</p><p><blockquote>尽管第一个季度的收入达到了10亿美元，但<b>Zoom</b> <b>视频通信</b>（纳斯达克：ZM）周一下跌近11%，此前该公司公布了高于预期的全年盈利预测。收入指引完全符合预期，但销售增长率跌至新低。简单来说，视频平台一直在持续增长，但没有达到分析师预期的过于乐观的速度。</blockquote></p><p> <h4>Q2 Figures</h4> For the quarter that ended on July 31st, revenue increased by 54% YoY in the quarter &nbsp;and topping $1 billion for the first time as it amounted to $1.02 billion, also exceeding Refinitiv expectations of $991.0 million as expected by analysts, according to Refinitiv. Adjusted net income came in 48% higher from the year-ago quarter, amounting to $1.36 per share, also exceeding $1.16 expected by Refinitiv. Free cash flow improved 22% as it improved to $455 million.</p><p><blockquote><h4>第二季度数据</h4>根据Refinitiv的数据，截至7月31日的季度，该季度收入同比增长54%，首次突破10亿美元，达到10.2亿美元，也超过了分析师预期的9.91亿美元。调整后净利润较去年同期增长48%，达到每股1.36美元，也超过Refinitiv预期的1.16美元。自由现金流增长22%，达到4.55亿美元。</blockquote></p><p> Gross margin improved from 72.3% in the previous quarter to 74.4%. Gross margin benefited from new data center capacity as well as lower usage during the summer, thanks in part to the school break. The Zoom Phone cloud-based phone service expanded from 1.5 million three months earlier to 2 million seats.</p><p><blockquote>毛利率从上一季度的72.3%提高至74.4%。毛利率受益于新的数据中心容量以及夏季使用率的降低，部分原因是学校放假。Zoom Phone基于云的电话服务从三个月前的150万个扩展到200万个座位。</blockquote></p><p> <h4>Outlook</h4> During the quarter, Zoom announced it will acquire cloud contact-center software provider Five9, along with the availability of Zoom Events for premium online meetings. The video communications company also invested in event software maker Cvent that sought to go public through a SPAC.</p><p><blockquote><h4>世界观</h4>本季度，Zoom宣布将收购云联络中心软件提供商Five9，并为高级在线会议提供Zoom Events。这家视频通信公司还投资了活动软件制造商Cvent，该公司寻求通过SPAC上市。</blockquote></p><p> As for the undergoing quarter, Zoom is guiding to 31% growth. Adjusted earnings per share are expected in the range between $1.07 to $1.08 with $1.015 billion to $1.020 billion in revenue.</p><p><blockquote>至于本季度，Zoom预计增长31%。调整后每股收益预计在1.07美元至1.08美元之间，营收为10.15亿美元至10.20亿美元。</blockquote></p><p> For the full fiscal year, it improved its forecast as coronavirus case counts have increased and many companies delayed plans to reopen offices. Adjusted earnings are expected to be in the range between $4.75 to $4.79 per share with the revenue range being within $4.005 billion and $4.015 billion in revenue. Previous estimates for adjusted earnings were $4.56 to $4.61 and $3.98 billion to $3.99 billion for revenue.</p><p><blockquote>对于整个财年，由于冠状病毒病例数增加以及许多公司推迟了重新开放办事处的计划，该公司提高了预测。预计调整后每股收益在4.75美元至4.79美元之间，营收在40.05亿美元至40.15亿美元之间。此前对调整后收益的预期为4.56美元至4.61美元，营收为39.8亿美元至39.9亿美元。</blockquote></p><p> The forecast is ahead of analysts' consensus estimates for both adjusted earnings per share and revenue, being $4.67 and $4.01 billion, respectively.</p><p><blockquote>该预测高于分析师对调整后每股收益和营收的普遍预期，分别为4.67美元和40.1亿美元。</blockquote></p><p> The guidance assumes strong growth for the direct and channel businesses, but also a weakness in the online business because of challenges encountered by smaller customers and consumers. Gross margin is expected to expand with students resuming classes.</p><p><blockquote>该指南假设直销和渠道业务将强劲增长，但由于小客户和消费者遇到的挑战，在线业务也将疲软。随着学生复课，毛利率预计将扩大。</blockquote></p><p> <h4>The Verdict</h4> By most standards,&nbsp;Zoom's business metrics look solid with 2,278 customers contributing $100,000 or more to its annual revenue. This is well over double its last year's big-client count. Customers with more than 10 employees vaulted over the half-million mark, up 36% YoY. On a trailing 12-month basis, net dollar expansion rates remained above 130%. But its results just weren't good enough for Wall Street who was not pleased to see the company calling for roughly flat third-quarter revenue compared to the second quarter.</p><p><blockquote><h4>判决</h4>按照大多数标准，Zoom的业务指标看起来很稳健，有2,278名客户为其年收入贡献了10万美元或更多。这是去年大客户数量的两倍多。拥有10名以上员工的客户突破50万大关，同比增长36%。在过去12个月的基础上，美元净增长率保持在130%以上。但对于华尔街来说，其业绩还不够好，华尔街不高兴看到该公司要求第三季度收入与第二季度大致持平。</blockquote></p><p> <i>This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com</i></p><p><blockquote><i>本文不是新闻稿，由IAMNewswire的经过验证的独立记者撰写。在任何时候都不应将其解释为投资建议，请阅读完整的披露。IAM Newswire在上述公司中没有任何职位。新闻稿-如果您正在寻找完整的新闻稿分发，请联系：press@iamnewswire.com贡献者-IAM Newswire接受推介。如果您有兴趣成为IAM记者，请联系：contributors@iamnewswire.com</i></blockquote></p><p> The post Zooming in on Zoom's Solid But Not Good Enough Results appeared first on IAM Newswire.</p><p><blockquote>放大Zoom稳健但不够好的结果的帖子首先出现在IAM新闻专线上。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zooming In On Zoom's Solid But Not Good Enough Results<blockquote>放大Zoom可靠但不够好的结果</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZooming In On Zoom's Solid But Not Good Enough Results<blockquote>放大Zoom可靠但不够好的结果</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-09-03 22:31</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Despite logging its first billion-dollar quarter, the stock of&nbsp;<b>Zoom</b>&nbsp;<b>Video Communications</b> (NASDAQ:ZM) fell almost 11% on Monday after the company posted a higher-than-expected earnings forecast for the full year. The revenue guidance exactly met expectations, but sales-growth rates fall to new lows. In simple words, the video platform has continued to grow, but not at the overly optimistic pace that analysts expected.</p><p><blockquote>尽管第一个季度的收入达到了10亿美元，但<b>Zoom</b> <b>视频通信</b>（纳斯达克：ZM）周一下跌近11%，此前该公司公布了高于预期的全年盈利预测。收入指引完全符合预期，但销售增长率跌至新低。简单来说，视频平台一直在持续增长，但没有达到分析师预期的过于乐观的速度。</blockquote></p><p> <h4>Q2 Figures</h4> For the quarter that ended on July 31st, revenue increased by 54% YoY in the quarter &nbsp;and topping $1 billion for the first time as it amounted to $1.02 billion, also exceeding Refinitiv expectations of $991.0 million as expected by analysts, according to Refinitiv. Adjusted net income came in 48% higher from the year-ago quarter, amounting to $1.36 per share, also exceeding $1.16 expected by Refinitiv. Free cash flow improved 22% as it improved to $455 million.</p><p><blockquote><h4>第二季度数据</h4>根据Refinitiv的数据，截至7月31日的季度，该季度收入同比增长54%，首次突破10亿美元，达到10.2亿美元，也超过了分析师预期的9.91亿美元。调整后净利润较去年同期增长48%，达到每股1.36美元，也超过Refinitiv预期的1.16美元。自由现金流增长22%，达到4.55亿美元。</blockquote></p><p> Gross margin improved from 72.3% in the previous quarter to 74.4%. Gross margin benefited from new data center capacity as well as lower usage during the summer, thanks in part to the school break. The Zoom Phone cloud-based phone service expanded from 1.5 million three months earlier to 2 million seats.</p><p><blockquote>毛利率从上一季度的72.3%提高至74.4%。毛利率受益于新的数据中心容量以及夏季使用率的降低，部分原因是学校放假。Zoom Phone基于云的电话服务从三个月前的150万个扩展到200万个座位。</blockquote></p><p> <h4>Outlook</h4> During the quarter, Zoom announced it will acquire cloud contact-center software provider Five9, along with the availability of Zoom Events for premium online meetings. The video communications company also invested in event software maker Cvent that sought to go public through a SPAC.</p><p><blockquote><h4>世界观</h4>本季度，Zoom宣布将收购云联络中心软件提供商Five9，并为高级在线会议提供Zoom Events。这家视频通信公司还投资了活动软件制造商Cvent，该公司寻求通过SPAC上市。</blockquote></p><p> As for the undergoing quarter, Zoom is guiding to 31% growth. Adjusted earnings per share are expected in the range between $1.07 to $1.08 with $1.015 billion to $1.020 billion in revenue.</p><p><blockquote>至于本季度，Zoom预计增长31%。调整后每股收益预计在1.07美元至1.08美元之间，营收为10.15亿美元至10.20亿美元。</blockquote></p><p> For the full fiscal year, it improved its forecast as coronavirus case counts have increased and many companies delayed plans to reopen offices. Adjusted earnings are expected to be in the range between $4.75 to $4.79 per share with the revenue range being within $4.005 billion and $4.015 billion in revenue. Previous estimates for adjusted earnings were $4.56 to $4.61 and $3.98 billion to $3.99 billion for revenue.</p><p><blockquote>对于整个财年，由于冠状病毒病例数增加以及许多公司推迟了重新开放办事处的计划，该公司提高了预测。预计调整后每股收益在4.75美元至4.79美元之间，营收在40.05亿美元至40.15亿美元之间。此前对调整后收益的预期为4.56美元至4.61美元，营收为39.8亿美元至39.9亿美元。</blockquote></p><p> The forecast is ahead of analysts' consensus estimates for both adjusted earnings per share and revenue, being $4.67 and $4.01 billion, respectively.</p><p><blockquote>该预测高于分析师对调整后每股收益和营收的普遍预期，分别为4.67美元和40.1亿美元。</blockquote></p><p> The guidance assumes strong growth for the direct and channel businesses, but also a weakness in the online business because of challenges encountered by smaller customers and consumers. Gross margin is expected to expand with students resuming classes.</p><p><blockquote>该指南假设直销和渠道业务将强劲增长，但由于小客户和消费者遇到的挑战，在线业务也将疲软。随着学生复课，毛利率预计将扩大。</blockquote></p><p> <h4>The Verdict</h4> By most standards,&nbsp;Zoom's business metrics look solid with 2,278 customers contributing $100,000 or more to its annual revenue. This is well over double its last year's big-client count. Customers with more than 10 employees vaulted over the half-million mark, up 36% YoY. On a trailing 12-month basis, net dollar expansion rates remained above 130%. But its results just weren't good enough for Wall Street who was not pleased to see the company calling for roughly flat third-quarter revenue compared to the second quarter.</p><p><blockquote><h4>判决</h4>按照大多数标准，Zoom的业务指标看起来很稳健，有2,278名客户为其年收入贡献了10万美元或更多。这是去年大客户数量的两倍多。拥有10名以上员工的客户突破50万大关，同比增长36%。在过去12个月的基础上，美元净增长率保持在130%以上。但对于华尔街来说，其业绩还不够好，华尔街不高兴看到该公司要求第三季度收入与第二季度大致持平。</blockquote></p><p> <i>This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com</i></p><p><blockquote><i>本文不是新闻稿，由IAMNewswire的经过验证的独立记者撰写。在任何时候都不应将其解释为投资建议，请阅读完整的披露。IAM Newswire在上述公司中没有任何职位。新闻稿-如果您正在寻找完整的新闻稿分发，请联系：press@iamnewswire.com贡献者-IAM Newswire接受推介。如果您有兴趣成为IAM记者，请联系：contributors@iamnewswire.com</i></blockquote></p><p> The post Zooming in on Zoom's Solid But Not Good Enough Results appeared first on IAM Newswire.</p><p><blockquote>放大Zoom稳健但不够好的结果的帖子首先出现在IAM新闻专线上。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164872049","content_text":"Despite logging its first billion-dollar quarter, the stock of Zoom Video Communications (NASDAQ:ZM) fell almost 11% on Monday after the company posted a higher-than-expected earnings forecast for the full year. The revenue guidance exactly met expectations, but sales-growth rates fall to new lows. In simple words, the video platform has continued to grow, but not at the overly optimistic pace that analysts expected.\nQ2 Figures\nFor the quarter that ended on July 31st, revenue increased by 54% YoY in the quarter  and topping $1 billion for the first time as it amounted to $1.02 billion, also exceeding Refinitiv expectations of $991.0 million as expected by analysts, according to Refinitiv. Adjusted net income came in 48% higher from the year-ago quarter, amounting to $1.36 per share, also exceeding $1.16 expected by Refinitiv. Free cash flow improved 22% as it improved to $455 million.\nGross margin improved from 72.3% in the previous quarter to 74.4%. Gross margin benefited from new data center capacity as well as lower usage during the summer, thanks in part to the school break. The Zoom Phone cloud-based phone service expanded from 1.5 million three months earlier to 2 million seats.\nOutlook\nDuring the quarter, Zoom announced it will acquire cloud contact-center software provider Five9, along with the availability of Zoom Events for premium online meetings. The video communications company also invested in event software maker Cvent that sought to go public through a SPAC.\nAs for the undergoing quarter, Zoom is guiding to 31% growth. Adjusted earnings per share are expected in the range between $1.07 to $1.08 with $1.015 billion to $1.020 billion in revenue.\nFor the full fiscal year, it improved its forecast as coronavirus case counts have increased and many companies delayed plans to reopen offices. Adjusted earnings are expected to be in the range between $4.75 to $4.79 per share with the revenue range being within $4.005 billion and $4.015 billion in revenue. Previous estimates for adjusted earnings were $4.56 to $4.61 and $3.98 billion to $3.99 billion for revenue.\nThe forecast is ahead of analysts' consensus estimates for both adjusted earnings per share and revenue, being $4.67 and $4.01 billion, respectively.\nThe guidance assumes strong growth for the direct and channel businesses, but also a weakness in the online business because of challenges encountered by smaller customers and consumers. Gross margin is expected to expand with students resuming classes.\nThe Verdict\nBy most standards, Zoom's business metrics look solid with 2,278 customers contributing $100,000 or more to its annual revenue. This is well over double its last year's big-client count. Customers with more than 10 employees vaulted over the half-million mark, up 36% YoY. On a trailing 12-month basis, net dollar expansion rates remained above 130%. But its results just weren't good enough for Wall Street who was not pleased to see the company calling for roughly flat third-quarter revenue compared to the second quarter.\nThis article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com\nThe post Zooming in on Zoom's Solid But Not Good Enough Results appeared first on IAM Newswire.","news_type":1,"symbols_score_info":{"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":2508,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832854548,"gmtCreate":1629610538384,"gmtModify":1631889147571,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/832854548","repostId":"1133515985","repostType":4,"isVote":1,"tweetType":1,"viewCount":685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830269193,"gmtCreate":1629076119412,"gmtModify":1631892526102,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/830269193","repostId":"2159434372","repostType":4,"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":823694339,"gmtCreate":1633616644790,"gmtModify":1633616648790,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/823694339","repostId":"1123346561","repostType":4,"repost":{"id":"1123346561","kind":"news","pubTimestamp":1633612422,"share":"https://www.laohu8.com/m/news/1123346561?lang=zh_CN&edition=full","pubTime":"2021-10-07 21:13","market":"us","language":"en","title":"Lordstown Motors Is the Poster Child for Blank-Check Firms<blockquote>洛兹敦汽车公司是空白支票公司的典型代表</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1123346561","media":"InvestorPlace","summary":"RIDE stock confirms the importance of due diligence.\n\nA few months ago, I expressed some concerns ab","content":"<p><div> RIDE stock confirms the importance of due diligence.  A few months ago, I expressed some concerns about Lordstown Motors Corp. stock and suffice to say, it was not well received. Source: Postmodern ...</p><p><blockquote><div>RIDE股票证实了尽职调查的重要性。几个月前，我表达了对洛兹敦汽车公司股票的一些担忧，可以说，它并没有受到好评。来源：后现代...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","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>Lordstown Motors Is the Poster Child for Blank-Check Firms<blockquote>洛兹敦汽车公司是空白支票公司的典型代表</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLordstown Motors Is the Poster Child for Blank-Check Firms<blockquote>洛兹敦汽车公司是空白支票公司的典型代表</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-10-07 21:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> RIDE stock confirms the importance of due diligence.  A few months ago, I expressed some concerns about Lordstown Motors Corp. stock and suffice to say, it was not well received. Source: Postmodern ...</p><p><blockquote><div>RIDE股票证实了尽职调查的重要性。几个月前，我表达了对洛兹敦汽车公司股票的一些担忧，可以说，它并没有受到好评。来源：后现代...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/\">InvestorPlace</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://investorplace.com/2021/10/ride-stock-poster-child-for-spacs/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123346561","content_text":"RIDE stock confirms the importance of due diligence.\n\nA few months ago, I expressed some concerns about Lordstown Motors Corp. stock and suffice to say, it was not well received.\nSource: Postmodern Studio / Shutterstock.com\nI could understand why. Even though the criticisms I received regarding my take on RIDE stock did not involve this admission, the reality is that no one likes losing money on a deal.\nHow often have we fretted over losing out on a negotiation rather than the joys that we accrued through victories in other areas. According to an NPR report, this concept has a name,loss aversion. “People care more about losing a dollar than gaining a dollar.” So, I get the anger over losing money from banking on RIDE stock.\nIf it makes anyone feel any better, I’ve put my money down on plenty of clunkers. All I can tell you is that you got to stay in the game through smart money management.\nBut there’s also another point here and that’s the value of due diligence. At the end of September, theNew York Times revealed thatHon Hai Precision Industry Co.(OTCMKTS:HNHPF) – better known as Foxconn – reached an agreement in principle to develop Lordstown’s electric vehicles. Also, it’s quite possible that the EV maker could sell its Ohio factory to Foxconn.\nAdding more woes to stakeholders of RIDE stock, Lordstown “said it would continue to use the factory to make the Endurance by leasing back space from Foxconn if the sale was completed. Foxconn would then offer employment contracts to some Lordstown manufacturing employees. Troubled companies often resort to sale-lease back deals as a way to raise cash.”\nThat’s not all. Under the terms of the agreement, “Foxconn agreed to buy $50 million worth of Lordstown shares at a price of $6.89.” At time of writing, RIDE stock closed at $5.85.\nBlank-Check Fever Was the Blessing and Curse of RIDE Stock\nWith so much attention focused on EVs in light of the massive paradigm shift from the novel coronavirus, it’s easy to forget that RIDE stock came to us via a merger with a special purpose acquisition company. Over the trailing year, SPACs have been the talk of town. But at the end of this period, this distinct manner of an initial public offering has come under scrutiny.\nFor one thing, RIDE stock isn’t an anomaly among post-merger business combinations. True, the hideousness of the losses – down 10% on Oct. 4, down 31% in the trailing five days and down 74% year-to-date – are a bit extreme, even for SPACs. However, SPACs overall have beenunderperforming benchmark indicesso far this year.\nNow, I don’t want to hit on SPACs (with an “S” in front) without providing some balanced context. One of the key benefits of these shell companies is that they open opportunities that would otherwise not be publicly available. Also, for the fullest of full disclosures, I make moneyanalyzing SPACs, so there’s that angle.\nBut the positives of blank-check firms don’t exempt one from conducting due diligence. You just got to do it, especially when you’re betting blind on pre-merger-announcement SPACs.\nBut what really struck me about RIDE stock is that it appears that at least with some SPACs, even their backers haven’t conducted a thorough examination. AnotherNew York Timesarticle describes how the scrutiny of a key architect of the SPAC that merged with Lordstown “was most likely far lessthan the inspection that a company undergoes in a conventional initial public offering.”\n“In an I.P.O., a company is held to strict reporting standards about its finances and prospects. By contrast, SPAC mergers give companies that would find it challenging to go public on their own an easier path to the public markets.”\nBe Careful Out There\nI’m not about to tell you not to buy SPACs – that would be SPAC-ist. Because let’s be real, even traditional IPOs can suffer from questionable antics. Otherwise, the filmThe Wolf of Wall Streetwouldn’t be as colorful as it was.\nBut the takeaway is that SPACs do seem to tempt the worst of behaviors from sponsors that seem to have their own interest in mind rather than the long-term viability of the deals they’re quarterbacking.\nPerhaps that’s the legacy of RIDE stock if this equity unit doesn’t make it out of this mess. Don’t be too comfortable flying with SPAC Air: there might not be anyone in the cockpit.","news_type":1,"symbols_score_info":{"RIDE":0.9}},"isVote":1,"tweetType":1,"viewCount":3674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":813384838,"gmtCreate":1630132337025,"gmtModify":1704956429364,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813384838","repostId":"2162733980","repostType":4,"isVote":1,"tweetType":1,"viewCount":456,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897335964,"gmtCreate":1628878758258,"gmtModify":1631892526108,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897335964","repostId":"2159218437","repostType":4,"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835838887,"gmtCreate":1629701692949,"gmtModify":1631889147567,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/835838887","repostId":"2161432967","repostType":4,"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830936429,"gmtCreate":1628999043961,"gmtModify":1631892526108,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830936429","repostId":"1127633167","repostType":4,"repost":{"id":"1127633167","kind":"news","pubTimestamp":1628997765,"share":"https://www.laohu8.com/m/news/1127633167?lang=zh_CN&edition=full","pubTime":"2021-08-15 11:22","market":"us","language":"en","title":"These 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127633167","media":"Barrons","summary":"One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors loo","content":"<p>One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.</p><p><blockquote>当今投资界最流行的流行语之一是“复合者”。寻找下一个亚马逊、Costco Wholesale、Nike或Visa的成长型投资者寻求寻找能够在未来几年实现收入和盈利两位数复合增长（最好是两者兼而有之）的公司。</blockquote></p><p> The idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock&nbsp;that returns 10 times what you paid for it.</p><p><blockquote>这个想法是，股价应该与收入和利润保持一致，使投资者能够在五到十年的持有期内产生高回报。最终目标是找到难以捉摸的“10 bagger”——一只回报率是你购买价格10倍的股票。</blockquote></p><p> Wall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified&nbsp;in a&nbsp;<i>Barron’s</i>&nbsp;cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.</p><p><blockquote>华尔街分析师的报告和投资专业人士的客户信函中充满了compounder的参考资料。许多下一代价值管理者，在<i>巴伦周刊</i>五月的封面故事，正在寻找这样的股票，而不是传统的廉价股票的价值票价。</blockquote></p><p> Their search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.</p><p><blockquote>他们的搜索变得更具挑战性，因为买家正在为高增长的故事支付高昂的价格。真正的大赢家很少。Durable Capital Partners的数据显示，在一系列10年期间，只有约35家公司的股价每年复合增长率达到20%或以上，导致股价至少上涨了六倍。</blockquote></p><p> Many investors are happy to stick with large, well-known compounders, such as&nbsp;Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and&nbsp;Eli Lilly(LLY).</p><p><blockquote>许多投资者很乐意继续投资大型知名复合商，例如Alphabet（股票代码：GOOGL）、万事达卡（MA）、联合健康集团（UNH）和礼来公司（LLY）。</blockquote></p><p> <i>Barron’s</i>&nbsp;sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:</p><p><blockquote><i>巴伦周刊</i>试图确定较小的候选人。我们与投资经理进行了交谈，并列出了一份包含10只股票的折衷清单，其中大多数股票的市值低于100亿美元。以下是按字母顺序排列的选择：</blockquote></p><p> Strong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.</p><p><blockquote>强劲而稳定的胜利以下是成长型投资者认为能够多年来持续实现收入或利润高增长的10只股票。</blockquote></p><p> <table>  <thead>   <tr>    <th>Company / Ticker</th>    <th>Recent Price</th>    <th>YTD Change</th>    <th>2021E P/E</th>    <th>2021E Price/Sales</th>    <th>2022E P/E</th>    <th>2022E Price/Sales</th>    <th>LT Growth Rate*</th>    <th>Market Value (bil)</th>    <th>Comment</th>   </tr>  </thead>  <tbody>   <tr>    <td>Amedysis / AMED</td>    <td>$185.15</td>    <td>-37%</td>    <td>30.2</td>    <td>2.7</td>    <td>27.7</td>    <td>2.4</td>    <td>10.5%</td>    <td>$6.3</td>    <td>Leader in home health care</td>   </tr>   <tr>    <td>Amyris / AMRS</td>    <td>13.64</td>    <td>121</td>    <td>NM</td>    <td>10.4</td>    <td>NM</td>    <td>9.7</td>    <td>NA</td>    <td>4.1</td>    <td>Leading company in synthetic biology</td>   </tr>   <tr>    <td>Booz Allen Hamilton Holding / BAH</td>    <td>81.73</td>    <td>-6</td>    <td>19.4</td>    <td>1.3</td>    <td>17.7</td>    <td>1.2</td>    <td>8.6</td>    <td>11.0</td>    <td>Defense-department consultant</td>   </tr>   <tr>    <td>J.B. Hunt Transport Services / JBHT</td>    <td>172.76</td>    <td>26</td>    <td>25.8</td>    <td>1.5</td>    <td>22.2</td>    <td>1.4</td>    <td>18.4</td>    <td>18.2</td>    <td>Strong in intermodal freight</td>   </tr>   <tr>    <td>Marriott Vacations Worldwide / VAC</td>    <td>147.15</td>    <td>7</td>    <td>40.9</td>    <td>1.6</td>    <td>15.7</td>    <td>1.4</td>    <td>NA</td>    <td>6.3</td>    <td>Top company in vacation timeshares</td>   </tr>   <tr>    <td>SiteOne Landscape Supply / SITE</td>    <td>197.10</td>    <td>24</td>    <td>45.7</td>    <td>2.6</td>    <td>43.5</td>    <td>2.5</td>    <td>19.3</td>    <td>8.8</td>    <td>Big supplier of landscaping supplies</td>   </tr>   <tr>    <td>Staar Surgical / STAA</td>    <td>138.19</td>    <td>74</td>    <td>192.3</td>    <td>28.6</td>    <td>140.8</td>    <td>22.5</td>    <td>30.0</td>    <td>6.6</td>    <td>Maker of implantable lens for myopia</td>   </tr>   <tr>    <td>Stitch Fix / SFIX</td>    <td>44.38</td>    <td>-24</td>    <td>NM</td>    <td>1.9</td>    <td>1890.3</td>    <td>1.7</td>    <td>30.0</td>    <td>4.8</td>    <td>Data-driven subscription clothing firm</td>   </tr>   <tr>    <td>Trex / TREX</td>    <td>105.94</td>    <td>27</td>    <td>51.9</td>    <td>10.5</td>    <td>43.6</td>    <td>9.3</td>    <td>18.8</td>    <td>12.2</td>    <td>Top maker of synthetic wood decking</td>   </tr>   <tr>    <td>Upwork / UPWK</td>    <td>44.31</td>    <td>28</td>    <td>NM</td>    <td>11.4</td>    <td>556.8</td>    <td>9.2</td>    <td>NA</td>    <td>5.7</td>    <td>Online clearinghouse for free-lancers</td>   </tr>  </tbody> </table> E=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.</p><p><blockquote><table><thead><tr><th>公司/股票代码</th><th>近期价格</th><th>年初至今变化</th><th>2021年预计市盈率</th><th>2021E价格/销售额</th><th>2022年预计市盈率</th><th>2022E价格/销售额</th><th>LT增长率*</th><th>市值（bil）</th><th>评论</th></tr></thead><tbody><tr><td>Amedysis/AMED</td><td>$185.15</td><td>-37%</td><td>30.2</td><td>2.7</td><td>27.7</td><td>2.4</td><td>10.5%</td><td>$6.3</td><td>家庭医疗保健领域的领导者</td></tr><tr><td>Amyris/AMRS</td><td>13.64</td><td>121</td><td>NM</td><td>10.4</td><td>NM</td><td>9.7</td><td>NA</td><td>4.1</td><td>合成生物学领域的领先公司</td></tr><tr><td>博思艾伦控股/BAH</td><td>81.73</td><td>-6</td><td>19.4</td><td>1.3</td><td>17.7</td><td>1.2</td><td>8.6</td><td>11.0</td><td>国防部顾问</td></tr><tr><td>J.B.亨特运输服务/JBHT</td><td>172.76</td><td>26</td><td>25.8</td><td>1.5</td><td>22.2</td><td>1.4</td><td>18.4</td><td>18.2</td><td>多式联运货运实力强劲</td></tr><tr><td>万豪度假全球/VAC</td><td>147.15</td><td>7</td><td>40.9</td><td>1.6</td><td>15.7</td><td>1.4</td><td>NA</td><td>6.3</td><td>度假分时度假顶级公司</td></tr><tr><td>SiteOne景观供应/站点</td><td>197.10</td><td>24</td><td>45.7</td><td>2.6</td><td>43.5</td><td>2.5</td><td>19.3</td><td>8.8</td><td>园林绿化用品大供应商</td></tr><tr><td>Staar外科/STAA</td><td>138.19</td><td>74</td><td>192.3</td><td>28.6</td><td>140.8</td><td>22.5</td><td>30.0</td><td>6.6</td><td>近视植入式镜片制造商</td></tr><tr><td>缝合固定/SFIX</td><td>44.38</td><td>-24</td><td>NM</td><td>1.9</td><td>1890.3</td><td>1.7</td><td>30.0</td><td>4.8</td><td>数据驱动的订阅服装公司</td></tr><tr><td>Trex/Trex</td><td>105.94</td><td>27</td><td>51.9</td><td>10.5</td><td>43.6</td><td>9.3</td><td>18.8</td><td>12.2</td><td>顶级合成木地板制造商</td></tr><tr><td>Upwork/UPWK</td><td>44.31</td><td>28</td><td>NM</td><td>11.4</td><td>556.8</td><td>9.2</td><td>NA</td><td>5.7</td><td>自由职业者在线信息交换所</td></tr></tbody></table>E=估计值。BAH预估适用于截至2022年3月和3月23日的财年。SFIX预估适用于截至2022年7月和2023年7月的财年。NM=无意义。NA=不可用。*公司未来3-5年可维持的年度每股收益增长。</blockquote></p><p> Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Amedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.</p><p><blockquote>Amedisys(AMED)是一家家庭医疗保健和临终关怀服务提供商，业务仍然分散，业务遍及全国。</blockquote></p><p></p><p> “There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”</p><p><blockquote>哥伦比亚小盘成长基金经理丹·科尔预测，“该行业将会出现大规模整合”。“医疗保健正在向家庭转移。”</blockquote></p><p> Amedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.</p><p><blockquote>Amedisys股价在过去十年中上涨了十倍多。但该公司最近以与新冠疫情相关的人员配备和成本问题（主要是收购的临终关怀业务）为由，下调了2021年财务指引，股价约为185美元，下跌了近30%。2021年盈利预期目前为每股6.13美元，低于近7美元。该股的交易价格是2021年预计利润的30倍。科尔表示，该公司仍有能力实现每股收益10%的年增长。</blockquote></p><p> Amyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.</p><p><blockquote>Amyris(AMRS)是合成生物学领域的领导者。它的粉丝们说，它的机会是以一种环保的方式取代一系列现在由石化产品、动物和植物制成的产品。</blockquote></p><p> Using genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.</p><p><blockquote>Amyris使用基因改造的酵母和甘蔗生产角鲨烷等产品，这是一种以前由鲨鱼肝制成的高端保湿剂；香草醛，香草的调味料；和通常来源于植物的无热量甜味剂。该股交易价格约为13美元。</blockquote></p><p> <i>Barron’s</i>&nbsp;wrote&nbsp;favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.</p><p><blockquote><i>巴伦周刊</i>7月份对该公司进行了好评。Amyris预计，在其消费品牌的推动下，到2025年销售额将达到20亿美元，高于今年预计的4亿美元。</blockquote></p><p> “The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.</p><p><blockquote>拥有Amyris股票的Pinnacle Associates的投资组合经理兰迪·巴伦(Randy Baron)表示：“世界需要清洁化学，而Amyris是创造清洁化学的关键。”他认为到2022年底它们可能会达到75美元。</blockquote></p><p> Booz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.</p><p><blockquote>博思艾伦控股公司（BAH）是国防部和其他机构的重要顾问。美国政府最近一财年的收入占其收入的97%。多年来，博思艾伦通过提供网络安全等一系列服务与政府建立了牢固的关系。其股价约为81美元，收益率为1.8%。</blockquote></p><p> “It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.</p><p><blockquote>T.Rowe Price New Horizons基金经理乔什·斯宾塞(Josh Spencer)表示：“它建立了强大的、类似伙伴关系的文化，并拥有长期稳定增长的记录。”他认为博思艾伦有能力实现9%至10%的收入年增长率和15%至16%的盈利年增长率，与其历史表现一致。由于担心军费开支更加克制，该股较100美元的峰值下跌了20%。斯宾塞将回调视为买入机会，该股的市盈率不到20倍。</blockquote></p><p> J.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the&nbsp;Barron’s Roundtable.</p><p><blockquote>J.B.亨特运输服务公司(JBHT)是多式联运货运领域的领导者，该领域涉及卡车在铁路线上的省油运输。它是最成功的卡车运输公司之一。其股价在过去20年中上涨了30倍，最近达到173美元。“它拥有令人难以置信的特许经营权，”Durable Capital Partners首席投资官、《巴伦周刊》圆桌会议成员亨利·埃伦博根(Henry Ellenbogen)表示。</blockquote></p><p> J.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.</p><p><blockquote>J.B.他指出，亨特与伯灵顿北圣达菲铁路公司的关系使其在多式联运货运领域拥有强大的地位。J.B.亨特的业务也在不断增长，接管了小公司的卡车运输业务。它还参与数字货运经纪业务——为卡车司机和航运客户牵线搭桥。</blockquote></p><p> Ellenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.</p><p><blockquote>Ellenbogen表示，考虑到盈利年增长率为十几岁左右，该股2022年预计利润的22倍是合理的。</blockquote></p><p> Marriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.</p><p><blockquote>万豪度假全球（VAC）是分时度假行业的顶级公司之一。它拥有700,000名业主，拥有富有弹性的商业模式，从费用中获得可观的收入，并且比同行更多地接触夏威夷和佛罗里达州奥兰多等地的豪华房产。</blockquote></p><p> “It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.</p><p><blockquote>Baron Focused Growth基金经理David Baron表示：“它拥有最好的客户群、最高的支出和无可挑剔的资产负债表。”他补充道，万豪度假公司的股价最近约为145美元，应该会在今年晚些时候恢复股息。</blockquote></p><p> The shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.</p><p><blockquote>Baron认为，根据2022年的预测，该股的自由现金流收益率为11%，价格低廉。他表示，该股自2018年以来几乎没有变化，未来几年可能为股东带来20%的年回报率。</blockquote></p><p> SiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.</p><p><blockquote>SiteOne Landscape Supply(SITE)是该国最大的景观美化产品供应商，鉴于其在高度分散的行业中仅占13%的市场份额，因此有充足的扩张机会。</blockquote></p><p> “It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.</p><p><blockquote>哥伦比亚大学的科尔表示：“它正在有机增长，并且有很多收购机会。”他认为该公司的年收入有能力增长10%至15%。</blockquote></p><p> The stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.</p><p><blockquote>该股股价约为197美元，估值很高，交易价格是2022年预计每股收益4.54美元的43倍。</blockquote></p><p> Staar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.</p><p><blockquote>Staar外科公司（STAA）开发了一种可植入晶状体来矫正近视（近视）。鉴于全球视力问题的发病率不断上升，这解决了一个潜在的巨大市场。该公司预计，这款镜片已在欧洲和亚洲上市至少五年，将于第四季度进入美国市场，等待美国食品和药物管理局的批准。</blockquote></p><p></p><p> “It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”</p><p><blockquote>Baillie Gifford全球经理道格·布罗迪(Doug Brodie)表示：“它的销量可能会很大。它还处于起步阶段，基本上没有竞争。”</blockquote></p><p> Lenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.</p><p><blockquote>双眼的晶状体可以在不到一个小时内植入，而且不需要移除天然晶状体。在美国，每个镜片的批发成本可能在1000美元左右。</blockquote></p><p> At a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.</p><p><blockquote>Staar股价最近为138美元，其估值超过2022年预计销售额的20倍，是2022年预计收益的140倍。但市场机会是巨大的：到2050年，全球约有50亿人可能患有近视。</blockquote></p><p> Stitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.</p><p><blockquote>Stitch Fix(SFIX)开发了服装、鞋子和其他配饰的订阅服务，拥有超过400万客户。</blockquote></p><p> “This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.</p><p><blockquote>“这可能是未来的诺德斯特龙，”Stitch Fix持有者Marathon Partners Equity Management首席投资官马里奥·西贝利(Mario Cibelli)表示。“这是一个潜在的巨大市场，没有人以同样的方式解决这个问题。”Stitch Fix利用6000名个人造型师和大量数据，试图确定订户的品味，以产生高满意度，并限制每隔一段时间发送并由订户决定的包裹的回报。</blockquote></p><p> Its shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.</p><p><blockquote>由于投资者对潜在客户流失和业务最终盈利能力的担忧，其股价约为44美元，较今年早些时候的水平下跌了60%。</blockquote></p><p> Yet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.</p><p><blockquote>然而，Cibelli预计收入每年将增长20%以上，在当前美国和英国市场之外还有机会，并且在两到三年内业务可能会非常有利可图。</blockquote></p><p> Trex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.</p><p><blockquote>Trex(TREX)是甲板高端木材替代品的顶级生产商，其95%来自回收材料，使其成为一种环保的住房。该股股价为105美元，是2022年预计市盈率的43倍。</blockquote></p><p> T. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.</p><p><blockquote>T.Rowe Price的Spencer认为Trex物有所值，因为他认为它可以产生15%至20%的可持续年收入增长。预计2022年盈利将增长约20%，并在接下来的几年中以类似的速度增长。“如果你把时间拨快三年，它看起来并没有那么贵，”他说。</blockquote></p><p> Upwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.</p><p><blockquote>Upwork(UPWK)是一个面向自由职业者的在线市场，受到Baillie Gifford的Brodie的青睐，他表示，它可以让企业更好地接受自由职业者。</blockquote></p><p> The shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.</p><p><blockquote>该股最近约为44美元，并不便宜。Upwork的估值为57亿美元，是今年预计销售额近5亿美元的10倍以上。它的运营略有亏损。</blockquote></p><p> The investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.</p><p><blockquote>投资案例是关于快速销售增长带来丰厚收益。预计今年销售额将增长30%以上，2022年将增长25%。</blockquote></p><p> “Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.</p><p><blockquote>“自由职业者更容易被中小型企业接受，但大型企业的人力资源部门却不喜欢他们，”布罗迪说。Upwork旨在通过审查自由职业者和提供数千种技能来改变这种看法。“Upwork可以成为越来越多企业级合作伙伴值得信赖的合作伙伴，”他说。</blockquote></p><p></p>","source":"lsy1601382232898","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>These 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-08-15 11:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.</p><p><blockquote>当今投资界最流行的流行语之一是“复合者”。寻找下一个亚马逊、Costco Wholesale、Nike或Visa的成长型投资者寻求寻找能够在未来几年实现收入和盈利两位数复合增长（最好是两者兼而有之）的公司。</blockquote></p><p> The idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock&nbsp;that returns 10 times what you paid for it.</p><p><blockquote>这个想法是，股价应该与收入和利润保持一致，使投资者能够在五到十年的持有期内产生高回报。最终目标是找到难以捉摸的“10 bagger”——一只回报率是你购买价格10倍的股票。</blockquote></p><p> Wall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified&nbsp;in a&nbsp;<i>Barron’s</i>&nbsp;cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.</p><p><blockquote>华尔街分析师的报告和投资专业人士的客户信函中充满了compounder的参考资料。许多下一代价值管理者，在<i>巴伦周刊</i>五月的封面故事，正在寻找这样的股票，而不是传统的廉价股票的价值票价。</blockquote></p><p> Their search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.</p><p><blockquote>他们的搜索变得更具挑战性，因为买家正在为高增长的故事支付高昂的价格。真正的大赢家很少。Durable Capital Partners的数据显示，在一系列10年期间，只有约35家公司的股价每年复合增长率达到20%或以上，导致股价至少上涨了六倍。</blockquote></p><p> Many investors are happy to stick with large, well-known compounders, such as&nbsp;Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and&nbsp;Eli Lilly(LLY).</p><p><blockquote>许多投资者很乐意继续投资大型知名复合商，例如Alphabet（股票代码：GOOGL）、万事达卡（MA）、联合健康集团（UNH）和礼来公司（LLY）。</blockquote></p><p> <i>Barron’s</i>&nbsp;sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:</p><p><blockquote><i>巴伦周刊</i>试图确定较小的候选人。我们与投资经理进行了交谈，并列出了一份包含10只股票的折衷清单，其中大多数股票的市值低于100亿美元。以下是按字母顺序排列的选择：</blockquote></p><p> Strong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.</p><p><blockquote>强劲而稳定的胜利以下是成长型投资者认为能够多年来持续实现收入或利润高增长的10只股票。</blockquote></p><p> <table>  <thead>   <tr>    <th>Company / Ticker</th>    <th>Recent Price</th>    <th>YTD Change</th>    <th>2021E P/E</th>    <th>2021E Price/Sales</th>    <th>2022E P/E</th>    <th>2022E Price/Sales</th>    <th>LT Growth Rate*</th>    <th>Market Value (bil)</th>    <th>Comment</th>   </tr>  </thead>  <tbody>   <tr>    <td>Amedysis / AMED</td>    <td>$185.15</td>    <td>-37%</td>    <td>30.2</td>    <td>2.7</td>    <td>27.7</td>    <td>2.4</td>    <td>10.5%</td>    <td>$6.3</td>    <td>Leader in home health care</td>   </tr>   <tr>    <td>Amyris / AMRS</td>    <td>13.64</td>    <td>121</td>    <td>NM</td>    <td>10.4</td>    <td>NM</td>    <td>9.7</td>    <td>NA</td>    <td>4.1</td>    <td>Leading company in synthetic biology</td>   </tr>   <tr>    <td>Booz Allen Hamilton Holding / BAH</td>    <td>81.73</td>    <td>-6</td>    <td>19.4</td>    <td>1.3</td>    <td>17.7</td>    <td>1.2</td>    <td>8.6</td>    <td>11.0</td>    <td>Defense-department consultant</td>   </tr>   <tr>    <td>J.B. Hunt Transport Services / JBHT</td>    <td>172.76</td>    <td>26</td>    <td>25.8</td>    <td>1.5</td>    <td>22.2</td>    <td>1.4</td>    <td>18.4</td>    <td>18.2</td>    <td>Strong in intermodal freight</td>   </tr>   <tr>    <td>Marriott Vacations Worldwide / VAC</td>    <td>147.15</td>    <td>7</td>    <td>40.9</td>    <td>1.6</td>    <td>15.7</td>    <td>1.4</td>    <td>NA</td>    <td>6.3</td>    <td>Top company in vacation timeshares</td>   </tr>   <tr>    <td>SiteOne Landscape Supply / SITE</td>    <td>197.10</td>    <td>24</td>    <td>45.7</td>    <td>2.6</td>    <td>43.5</td>    <td>2.5</td>    <td>19.3</td>    <td>8.8</td>    <td>Big supplier of landscaping supplies</td>   </tr>   <tr>    <td>Staar Surgical / STAA</td>    <td>138.19</td>    <td>74</td>    <td>192.3</td>    <td>28.6</td>    <td>140.8</td>    <td>22.5</td>    <td>30.0</td>    <td>6.6</td>    <td>Maker of implantable lens for myopia</td>   </tr>   <tr>    <td>Stitch Fix / SFIX</td>    <td>44.38</td>    <td>-24</td>    <td>NM</td>    <td>1.9</td>    <td>1890.3</td>    <td>1.7</td>    <td>30.0</td>    <td>4.8</td>    <td>Data-driven subscription clothing firm</td>   </tr>   <tr>    <td>Trex / TREX</td>    <td>105.94</td>    <td>27</td>    <td>51.9</td>    <td>10.5</td>    <td>43.6</td>    <td>9.3</td>    <td>18.8</td>    <td>12.2</td>    <td>Top maker of synthetic wood decking</td>   </tr>   <tr>    <td>Upwork / UPWK</td>    <td>44.31</td>    <td>28</td>    <td>NM</td>    <td>11.4</td>    <td>556.8</td>    <td>9.2</td>    <td>NA</td>    <td>5.7</td>    <td>Online clearinghouse for free-lancers</td>   </tr>  </tbody> </table> E=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.</p><p><blockquote><table><thead><tr><th>公司/股票代码</th><th>近期价格</th><th>年初至今变化</th><th>2021年预计市盈率</th><th>2021E价格/销售额</th><th>2022年预计市盈率</th><th>2022E价格/销售额</th><th>LT增长率*</th><th>市值（bil）</th><th>评论</th></tr></thead><tbody><tr><td>Amedysis/AMED</td><td>$185.15</td><td>-37%</td><td>30.2</td><td>2.7</td><td>27.7</td><td>2.4</td><td>10.5%</td><td>$6.3</td><td>家庭医疗保健领域的领导者</td></tr><tr><td>Amyris/AMRS</td><td>13.64</td><td>121</td><td>NM</td><td>10.4</td><td>NM</td><td>9.7</td><td>NA</td><td>4.1</td><td>合成生物学领域的领先公司</td></tr><tr><td>博思艾伦控股/BAH</td><td>81.73</td><td>-6</td><td>19.4</td><td>1.3</td><td>17.7</td><td>1.2</td><td>8.6</td><td>11.0</td><td>国防部顾问</td></tr><tr><td>J.B.亨特运输服务/JBHT</td><td>172.76</td><td>26</td><td>25.8</td><td>1.5</td><td>22.2</td><td>1.4</td><td>18.4</td><td>18.2</td><td>多式联运货运实力强劲</td></tr><tr><td>万豪度假全球/VAC</td><td>147.15</td><td>7</td><td>40.9</td><td>1.6</td><td>15.7</td><td>1.4</td><td>NA</td><td>6.3</td><td>度假分时度假顶级公司</td></tr><tr><td>SiteOne景观供应/站点</td><td>197.10</td><td>24</td><td>45.7</td><td>2.6</td><td>43.5</td><td>2.5</td><td>19.3</td><td>8.8</td><td>园林绿化用品大供应商</td></tr><tr><td>Staar外科/STAA</td><td>138.19</td><td>74</td><td>192.3</td><td>28.6</td><td>140.8</td><td>22.5</td><td>30.0</td><td>6.6</td><td>近视植入式镜片制造商</td></tr><tr><td>缝合固定/SFIX</td><td>44.38</td><td>-24</td><td>NM</td><td>1.9</td><td>1890.3</td><td>1.7</td><td>30.0</td><td>4.8</td><td>数据驱动的订阅服装公司</td></tr><tr><td>Trex/Trex</td><td>105.94</td><td>27</td><td>51.9</td><td>10.5</td><td>43.6</td><td>9.3</td><td>18.8</td><td>12.2</td><td>顶级合成木地板制造商</td></tr><tr><td>Upwork/UPWK</td><td>44.31</td><td>28</td><td>NM</td><td>11.4</td><td>556.8</td><td>9.2</td><td>NA</td><td>5.7</td><td>自由职业者在线信息交换所</td></tr></tbody></table>E=估计值。BAH预估适用于截至2022年3月和3月23日的财年。SFIX预估适用于截至2022年7月和2023年7月的财年。NM=无意义。NA=不可用。*公司未来3-5年可维持的年度每股收益增长。</blockquote></p><p> Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Amedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.</p><p><blockquote>Amedisys(AMED)是一家家庭医疗保健和临终关怀服务提供商，业务仍然分散，业务遍及全国。</blockquote></p><p></p><p> “There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”</p><p><blockquote>哥伦比亚小盘成长基金经理丹·科尔预测，“该行业将会出现大规模整合”。“医疗保健正在向家庭转移。”</blockquote></p><p> Amedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.</p><p><blockquote>Amedisys股价在过去十年中上涨了十倍多。但该公司最近以与新冠疫情相关的人员配备和成本问题（主要是收购的临终关怀业务）为由，下调了2021年财务指引，股价约为185美元，下跌了近30%。2021年盈利预期目前为每股6.13美元，低于近7美元。该股的交易价格是2021年预计利润的30倍。科尔表示，该公司仍有能力实现每股收益10%的年增长。</blockquote></p><p> Amyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.</p><p><blockquote>Amyris(AMRS)是合成生物学领域的领导者。它的粉丝们说，它的机会是以一种环保的方式取代一系列现在由石化产品、动物和植物制成的产品。</blockquote></p><p> Using genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.</p><p><blockquote>Amyris使用基因改造的酵母和甘蔗生产角鲨烷等产品，这是一种以前由鲨鱼肝制成的高端保湿剂；香草醛，香草的调味料；和通常来源于植物的无热量甜味剂。该股交易价格约为13美元。</blockquote></p><p> <i>Barron’s</i>&nbsp;wrote&nbsp;favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.</p><p><blockquote><i>巴伦周刊</i>7月份对该公司进行了好评。Amyris预计，在其消费品牌的推动下，到2025年销售额将达到20亿美元，高于今年预计的4亿美元。</blockquote></p><p> “The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.</p><p><blockquote>拥有Amyris股票的Pinnacle Associates的投资组合经理兰迪·巴伦(Randy Baron)表示：“世界需要清洁化学，而Amyris是创造清洁化学的关键。”他认为到2022年底它们可能会达到75美元。</blockquote></p><p> Booz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.</p><p><blockquote>博思艾伦控股公司（BAH）是国防部和其他机构的重要顾问。美国政府最近一财年的收入占其收入的97%。多年来，博思艾伦通过提供网络安全等一系列服务与政府建立了牢固的关系。其股价约为81美元，收益率为1.8%。</blockquote></p><p> “It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.</p><p><blockquote>T.Rowe Price New Horizons基金经理乔什·斯宾塞(Josh Spencer)表示：“它建立了强大的、类似伙伴关系的文化，并拥有长期稳定增长的记录。”他认为博思艾伦有能力实现9%至10%的收入年增长率和15%至16%的盈利年增长率，与其历史表现一致。由于担心军费开支更加克制，该股较100美元的峰值下跌了20%。斯宾塞将回调视为买入机会，该股的市盈率不到20倍。</blockquote></p><p> J.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the&nbsp;Barron’s Roundtable.</p><p><blockquote>J.B.亨特运输服务公司(JBHT)是多式联运货运领域的领导者，该领域涉及卡车在铁路线上的省油运输。它是最成功的卡车运输公司之一。其股价在过去20年中上涨了30倍，最近达到173美元。“它拥有令人难以置信的特许经营权，”Durable Capital Partners首席投资官、《巴伦周刊》圆桌会议成员亨利·埃伦博根(Henry Ellenbogen)表示。</blockquote></p><p> J.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.</p><p><blockquote>J.B.他指出，亨特与伯灵顿北圣达菲铁路公司的关系使其在多式联运货运领域拥有强大的地位。J.B.亨特的业务也在不断增长，接管了小公司的卡车运输业务。它还参与数字货运经纪业务——为卡车司机和航运客户牵线搭桥。</blockquote></p><p> Ellenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.</p><p><blockquote>Ellenbogen表示，考虑到盈利年增长率为十几岁左右，该股2022年预计利润的22倍是合理的。</blockquote></p><p> Marriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.</p><p><blockquote>万豪度假全球（VAC）是分时度假行业的顶级公司之一。它拥有700,000名业主，拥有富有弹性的商业模式，从费用中获得可观的收入，并且比同行更多地接触夏威夷和佛罗里达州奥兰多等地的豪华房产。</blockquote></p><p> “It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.</p><p><blockquote>Baron Focused Growth基金经理David Baron表示：“它拥有最好的客户群、最高的支出和无可挑剔的资产负债表。”他补充道，万豪度假公司的股价最近约为145美元，应该会在今年晚些时候恢复股息。</blockquote></p><p> The shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.</p><p><blockquote>Baron认为，根据2022年的预测，该股的自由现金流收益率为11%，价格低廉。他表示，该股自2018年以来几乎没有变化，未来几年可能为股东带来20%的年回报率。</blockquote></p><p> SiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.</p><p><blockquote>SiteOne Landscape Supply(SITE)是该国最大的景观美化产品供应商，鉴于其在高度分散的行业中仅占13%的市场份额，因此有充足的扩张机会。</blockquote></p><p> “It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.</p><p><blockquote>哥伦比亚大学的科尔表示：“它正在有机增长，并且有很多收购机会。”他认为该公司的年收入有能力增长10%至15%。</blockquote></p><p> The stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.</p><p><blockquote>该股股价约为197美元，估值很高，交易价格是2022年预计每股收益4.54美元的43倍。</blockquote></p><p> Staar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.</p><p><blockquote>Staar外科公司（STAA）开发了一种可植入晶状体来矫正近视（近视）。鉴于全球视力问题的发病率不断上升，这解决了一个潜在的巨大市场。该公司预计，这款镜片已在欧洲和亚洲上市至少五年，将于第四季度进入美国市场，等待美国食品和药物管理局的批准。</blockquote></p><p></p><p> “It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”</p><p><blockquote>Baillie Gifford全球经理道格·布罗迪(Doug Brodie)表示：“它的销量可能会很大。它还处于起步阶段，基本上没有竞争。”</blockquote></p><p> Lenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.</p><p><blockquote>双眼的晶状体可以在不到一个小时内植入，而且不需要移除天然晶状体。在美国，每个镜片的批发成本可能在1000美元左右。</blockquote></p><p> At a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.</p><p><blockquote>Staar股价最近为138美元，其估值超过2022年预计销售额的20倍，是2022年预计收益的140倍。但市场机会是巨大的：到2050年，全球约有50亿人可能患有近视。</blockquote></p><p> Stitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.</p><p><blockquote>Stitch Fix(SFIX)开发了服装、鞋子和其他配饰的订阅服务，拥有超过400万客户。</blockquote></p><p> “This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.</p><p><blockquote>“这可能是未来的诺德斯特龙，”Stitch Fix持有者Marathon Partners Equity Management首席投资官马里奥·西贝利(Mario Cibelli)表示。“这是一个潜在的巨大市场，没有人以同样的方式解决这个问题。”Stitch Fix利用6000名个人造型师和大量数据，试图确定订户的品味，以产生高满意度，并限制每隔一段时间发送并由订户决定的包裹的回报。</blockquote></p><p> Its shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.</p><p><blockquote>由于投资者对潜在客户流失和业务最终盈利能力的担忧，其股价约为44美元，较今年早些时候的水平下跌了60%。</blockquote></p><p> Yet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.</p><p><blockquote>然而，Cibelli预计收入每年将增长20%以上，在当前美国和英国市场之外还有机会，并且在两到三年内业务可能会非常有利可图。</blockquote></p><p> Trex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.</p><p><blockquote>Trex(TREX)是甲板高端木材替代品的顶级生产商，其95%来自回收材料，使其成为一种环保的住房。该股股价为105美元，是2022年预计市盈率的43倍。</blockquote></p><p> T. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.</p><p><blockquote>T.Rowe Price的Spencer认为Trex物有所值，因为他认为它可以产生15%至20%的可持续年收入增长。预计2022年盈利将增长约20%，并在接下来的几年中以类似的速度增长。“如果你把时间拨快三年，它看起来并没有那么贵，”他说。</blockquote></p><p> Upwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.</p><p><blockquote>Upwork(UPWK)是一个面向自由职业者的在线市场，受到Baillie Gifford的Brodie的青睐，他表示，它可以让企业更好地接受自由职业者。</blockquote></p><p> The shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.</p><p><blockquote>该股最近约为44美元，并不便宜。Upwork的估值为57亿美元，是今年预计销售额近5亿美元的10倍以上。它的运营略有亏损。</blockquote></p><p> The investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.</p><p><blockquote>投资案例是关于快速销售增长带来丰厚收益。预计今年销售额将增长30%以上，2022年将增长25%。</blockquote></p><p> “Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.</p><p><blockquote>“自由职业者更容易被中小型企业接受，但大型企业的人力资源部门却不喜欢他们，”布罗迪说。Upwork旨在通过审查自由职业者和提供数千种技能来改变这种看法。“Upwork可以成为越来越多企业级合作伙伴值得信赖的合作伙伴，”他说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-potential-compounder-growth-51628888840?mod=hp_LEADSUPP_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SFIX":"Stitch Fix Inc.","SITE":"SiteOne Landscape Supply, Inc.","AMRS":"阿米瑞斯","BAH":"博思艾伦咨询公司","VAC":"万豪度假环球","STAA":"STAAR Surgical Company","UPWK":"Upwork Inc.","JBHT":"JB Hunt运输服务","AMED":"阿米斯医疗","TREX":"Trex Co Inc"},"source_url":"https://www.barrons.com/articles/stocks-potential-compounder-growth-51628888840?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127633167","content_text":"One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.\nThe idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock that returns 10 times what you paid for it.\nWall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified in a Barron’s cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.\nTheir search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.\nMany investors are happy to stick with large, well-known compounders, such as Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and Eli Lilly(LLY).\nBarron’s sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:\nStrong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.\n\n\n\nCompany / Ticker\nRecent Price\nYTD Change\n2021E P/E\n2021E Price/Sales\n2022E P/E\n2022E Price/Sales\nLT Growth Rate*\nMarket Value (bil)\nComment\n\n\n\n\nAmedysis / AMED\n$185.15\n-37%\n30.2\n2.7\n27.7\n2.4\n10.5%\n$6.3\nLeader in home health care\n\n\nAmyris / AMRS\n13.64\n121\nNM\n10.4\nNM\n9.7\nNA\n4.1\nLeading company in synthetic biology\n\n\nBooz Allen Hamilton Holding / BAH\n81.73\n-6\n19.4\n1.3\n17.7\n1.2\n8.6\n11.0\nDefense-department consultant\n\n\nJ.B. Hunt Transport Services / JBHT\n172.76\n26\n25.8\n1.5\n22.2\n1.4\n18.4\n18.2\nStrong in intermodal freight\n\n\nMarriott Vacations Worldwide / VAC\n147.15\n7\n40.9\n1.6\n15.7\n1.4\nNA\n6.3\nTop company in vacation timeshares\n\n\nSiteOne Landscape Supply / SITE\n197.10\n24\n45.7\n2.6\n43.5\n2.5\n19.3\n8.8\nBig supplier of landscaping supplies\n\n\nStaar Surgical / STAA\n138.19\n74\n192.3\n28.6\n140.8\n22.5\n30.0\n6.6\nMaker of implantable lens for myopia\n\n\nStitch Fix / SFIX\n44.38\n-24\nNM\n1.9\n1890.3\n1.7\n30.0\n4.8\nData-driven subscription clothing firm\n\n\nTrex / TREX\n105.94\n27\n51.9\n10.5\n43.6\n9.3\n18.8\n12.2\nTop maker of synthetic wood decking\n\n\nUpwork / UPWK\n44.31\n28\nNM\n11.4\n556.8\n9.2\nNA\n5.7\nOnline clearinghouse for free-lancers\n\n\n\nE=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.\nSource: FactSet\nAmedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.\n“There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”\nAmedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.\nAmyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.\nUsing genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.\nBarron’s wrote favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.\n“The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.\nBooz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.\n“It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.\nJ.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the Barron’s Roundtable.\nJ.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.\nEllenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.\nMarriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.\n“It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.\nThe shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.\nSiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.\n\n“It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.\nThe stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.\nStaar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.\n“It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”\nLenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.\nAt a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.\nStitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.\n“This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.\nIts shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.\nYet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.\nTrex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.\nT. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.\nUpwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.\nThe shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.\nThe investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.\n“Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.","news_type":1,"symbols_score_info":{"UPWK":0.9,"TREX":0.9,"STAA":0.9,"SFIX":0.9,"AMED":0.9,"BAH":0.9,"VAC":0.9,"JBHT":0.9,"AMRS":0.9,"SITE":0.9}},"isVote":1,"tweetType":1,"viewCount":343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":602870792,"gmtCreate":1639010272527,"gmtModify":1639010272621,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/602870792","repostId":"2190969538","repostType":2,"repost":{"id":"2190969538","kind":"highlight","pubTimestamp":1638999237,"share":"https://www.laohu8.com/m/news/2190969538?lang=zh_CN&edition=full","pubTime":"2021-12-09 05:33","market":"hk","language":"zh","title":"外媒头条：小摩最新预测！明年全球经济将全面复苏","url":"https://stock-news.laohu8.com/highlight/detail?id=2190969538","media":"新浪财经","summary":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根大通：2022年全球经济将全面复苏\n\n\n2、辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n\n\n3、美银：标普500指数实","content":"<p><b>全球财经媒体昨夜今晨共同关注的头条新闻主要有：</b></p>\n<blockquote>\n <b>1、<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>：2022年全球经济将全面复苏</b>\n</blockquote>\n<blockquote>\n <b>2、<a href=\"https://laohu8.com/S/PFE\">辉瑞</a>CEO：因omicron的出现 可能要比预期更早接种第四针疫苗</b>\n</blockquote>\n<blockquote>\n <b>3、美银：标普500指数实际盈利收益率处于1947年以来最低水平</b>\n</blockquote>\n<blockquote>\n <b>4、美国商务部长：对欧盟数字法案的影响感到担忧</b>\n</blockquote>\n<blockquote>\n <b>5、等待芯片交付的时间再度拉长 缺货现象料难改善</b>\n</blockquote>\n<blockquote>\n <b>6、英国首相恢复居家工作建议 以遏制omicron传播</b>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/c73d5ba64db8e6f5394e17bed1d68026\" tg-width=\"365\" tg-height=\"259\" referrerpolicy=\"no-referrer\"></p>\n<p><b><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>：2022年全球经济将全面复苏</b></p>\n<p>美国投行摩根大通周三预测，2022年将标志着新冠疫情的结束，全球经济将全面复苏。</p>\n<p>该行在2022年的展望报告中称，新的疫苗和疗法将引发“强劲的周期性复苏、全球流动性的回归以及消费者被压抑需求的释放”。</p>\n<p>摩根大通首席全球市场策略师兼全球研究联席主管Marko Kolanovic表示，该行预计，到2022年底，标普500指数将上涨近8%至5050点，新兴市场股票将飙升18%，10年期美国债收益率升至2.25%。</p>\n<p>Kolanovic称：“我们认为，2022年将是全球全面复苏、疫情结束以及恢复到疫情爆发前正常经济和市场状况的一年。”</p>\n<p><img src=\"https://static.tigerbbs.com/f64958459d8e15362eda127e159e2b5e\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p>\n<p><b><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>CEO：因omicron的出现 可能要比预期更早接种第四针疫苗</b></p>\n<p>辉瑞（Pfizer）首席执行官Albert Bourla周三表示，在初步研究表明omicron变体会破坏新冠疫苗产生的保护性抗体后，人们可能需要比预期更早地接种第四针新冠疫苗。</p>\n<p>辉瑞和BioNTech周三上午公布了一项初步实验室研究的结果，该结果表明，第三针疫苗可有效对抗omicron变体，而最初的两剂疫苗在抵御新毒株的能力方面显著下降。然而两家公司表示，两针疫苗可能仍然可以防止因omicron引起的重症。</p>\n<p>Bourla指出，该公司的初步研究是基于实验室创建的该变体的合成副本，需要从针对真实病毒的测试中获得更多数据。Bourla表示，真实情况的结果将更加准确，预计将在未来两周内公布。</p>\n<p>“当我们看到真实情况的数据时，将会确定第三剂是否能很好地抵御omicron以及持续多长时间。第二点，我认为我们需要第四剂加强针，”Bourla称。</p>\n<p>Bourla此前预计，在第三针注射后12个月，需要注射第四针。 “对于omicron，我们需要继续观察，因为我们掌握的信息很少。我们可能需要更快，”他说。</p>\n<p><img src=\"https://static.tigerbbs.com/f7f315f864fdab28ae7ded4de244515e\" tg-width=\"550\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美银：标普500指数实际盈利收益率处于1947年以来最低水平</b></p>\n<p><a href=\"https://laohu8.com/S/BAC\">美国银行</a>策略师说，美国股市的实际盈利收益率已经降至杜鲁门就任总统、冷战刚刚开始以来的最低水平。</p>\n<p>Savita Subramanian牵头的策略师在周三的一份报告中写道，标普500指数目前的实际盈利收益率为-2.9%，意味着如果公司业绩不持续增长，那么投资者经通胀调整后将损失2.9%。“上次实际盈利收益率为负还是1947年。”</p>\n<p>策略师们表示，前四次实际盈利收益率为负的时候，均出现了熊市。他们建议投资者在能源、金融和房地产等抗通胀板块寻求避险。他们表示，对未来12个月通胀率将从6.2%降至2.5%的预期可能过于乐观，这代表着40年来最急速的通胀下降。</p>\n<p><a href=\"https://laohu8.com/S/BAC\">美国银行</a>一直看跌美国和欧洲股市，尽管两边主要指数最近几个月都创历史新高。在新冠病毒omicron变异株引发市场短暂下跌之后，标普500指数已经反弹并徘徊在纪录高位附近。</p>\n<p><img src=\"https://static.tigerbbs.com/9b554496205f305c148e99e907890134\" tg-width=\"550\" tg-height=\"376\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国商务部长：对欧盟数字法案的影响感到担忧</b></p>\n<p>美国商务部长雷蒙多表示，美国感到“严重关切”的是，欧盟的数字市场法案和数字服务法案会过度地影响总部在美国的科技企业及其充分服务欧盟客户、捍卫安全和隐私标准的能力。</p>\n<p>美国鼓励欧盟在推进立法程序之际，听取利益攸关方对这些法案的关切。</p>\n<p>雷蒙多以视频连线方式在美国商会的跨<a href=\"https://laohu8.com/S/600558\">大西洋</a>商业工作峰会上表示。</p>\n<p>雷蒙多指出，美国意识到，欧盟希望利用这些法案来营造公平、透明和安全的数字空间。</p>\n<p>她说，拜登政府认为敲定加强版的欧盟-美国“隐私盾”是第一要务，她仍然在积极地参与谈判。</p>\n<p><img src=\"https://static.tigerbbs.com/fb8e158634830a8680488986098a8d56\" tg-width=\"550\" tg-height=\"274\" referrerpolicy=\"no-referrer\"></p>\n<p><b>等待芯片交付的时间再度拉长 缺货现象料难改善</b></p>\n<p>芯片交付时间在11月份再次拉长，浇灭了令许多行业蒙受损失的缺货现象终见天日的希望。</p>\n<p>Susquehanna Financial Group的研究显示，备受关注的前置时间上个月比10月份增加了四天，达到约22.3周。这一等待时间创下了该公司2017年开始跟踪数据以来的最长纪录。</p>\n<p>对需要更多芯片的行业来说是这无疑是个挫折。包括苹果公司和<a href=\"https://laohu8.com/S/F\">福特汽车</a>在内的各类企业都抱怨无法满足客户对产品的需求，而同时成本也在上升。芯片交付时间增速在10月曾出现放缓，燃起了认为形势正在改善的乐观情绪。</p>\n<p>“虽然增长比最近几个月的大多数时间要短，但我们本来是希望出现明显逆转的，” Susquehanna分析师Chris Rolland在研究报告中表示。</p>\n<p><img src=\"https://static.tigerbbs.com/d37088174440cde2b2960461fa23ce07\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p>\n<p><b>英国首相恢复居家工作建议 以遏制omicron传播</b></p>\n<p>英国首相鲍里斯·约翰逊收紧防疫规定以遏制变异毒株omicron的传播，建议人们在家工作，并强制要求在大型公共场所使用“疫苗护照”。</p>\n<p>“越来越明显的是，omicron增长速度远快于德尔塔，”约翰逊在周三电视新闻发布会上宣布了英格兰地区的新防疫措施。他表示，“实施B计划是合适而负责任的做法”。</p>\n<p>即便在omicron出现前，英国单日新增新冠病例已经连续数月保持较高水平，因此有警告称这个新毒株将使医院系统不堪重负。在约翰逊宣布启动B计划前，苏格兰、威尔士和北爱尔兰已经实施了更严格的防疫限制。</p>\n<p>虽然新规远没有达到先前实施封锁时的严厉程度，但仍代表着重大调整，对约翰逊而言存在政治风险。约翰逊政府原本希望通过加快加强针的接种，避免在圣诞节期间推出新的限制措施。</p>","source":"XLCJ","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>外媒头条：小摩最新预测！明年全球经济将全面复苏</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外媒头条：小摩最新预测！明年全球经济将全面复苏\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-09 05:33 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/usstock/c/2021-12-09/doc-ikyamrmy7749780.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根大通：2022年全球经济将全面复苏\n\n\n2、辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n\n\n3、美银：标普500指数实际盈利收益率处于1947年以来最低水平\n\n\n4、美国商务部长：对欧盟数字法案的影响感到担忧\n\n\n5、等待芯片交付的时间再度拉长 缺货现象料难改善\n\n\n6、英国首相恢复居家工作建议 以遏制omicron...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-12-09/doc-ikyamrmy7749780.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f874ded00c644297784368a7af94c8ae","relate_stocks":{"BK4534":"瑞士信贷持仓",".SPX":"S&P 500 Index","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4504":"桥水持仓","PFE":"辉瑞",".DJI":"道琼斯","JPM":"摩根大通","BK4207":"综合性银行",".IXIC":"NASDAQ Composite","BK4566":"资本集团","BK4550":"红杉资本持仓"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-12-09/doc-ikyamrmy7749780.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2190969538","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根大通：2022年全球经济将全面复苏\n\n\n2、辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n\n\n3、美银：标普500指数实际盈利收益率处于1947年以来最低水平\n\n\n4、美国商务部长：对欧盟数字法案的影响感到担忧\n\n\n5、等待芯片交付的时间再度拉长 缺货现象料难改善\n\n\n6、英国首相恢复居家工作建议 以遏制omicron传播\n\n\n摩根大通：2022年全球经济将全面复苏\n美国投行摩根大通周三预测，2022年将标志着新冠疫情的结束，全球经济将全面复苏。\n该行在2022年的展望报告中称，新的疫苗和疗法将引发“强劲的周期性复苏、全球流动性的回归以及消费者被压抑需求的释放”。\n摩根大通首席全球市场策略师兼全球研究联席主管Marko Kolanovic表示，该行预计，到2022年底，标普500指数将上涨近8%至5050点，新兴市场股票将飙升18%，10年期美国债收益率升至2.25%。\nKolanovic称：“我们认为，2022年将是全球全面复苏、疫情结束以及恢复到疫情爆发前正常经济和市场状况的一年。”\n\n辉瑞CEO：因omicron的出现 可能要比预期更早接种第四针疫苗\n辉瑞（Pfizer）首席执行官Albert Bourla周三表示，在初步研究表明omicron变体会破坏新冠疫苗产生的保护性抗体后，人们可能需要比预期更早地接种第四针新冠疫苗。\n辉瑞和BioNTech周三上午公布了一项初步实验室研究的结果，该结果表明，第三针疫苗可有效对抗omicron变体，而最初的两剂疫苗在抵御新毒株的能力方面显著下降。然而两家公司表示，两针疫苗可能仍然可以防止因omicron引起的重症。\nBourla指出，该公司的初步研究是基于实验室创建的该变体的合成副本，需要从针对真实病毒的测试中获得更多数据。Bourla表示，真实情况的结果将更加准确，预计将在未来两周内公布。\n“当我们看到真实情况的数据时，将会确定第三剂是否能很好地抵御omicron以及持续多长时间。第二点，我认为我们需要第四剂加强针，”Bourla称。\nBourla此前预计，在第三针注射后12个月，需要注射第四针。 “对于omicron，我们需要继续观察，因为我们掌握的信息很少。我们可能需要更快，”他说。\n\n美银：标普500指数实际盈利收益率处于1947年以来最低水平\n美国银行策略师说，美国股市的实际盈利收益率已经降至杜鲁门就任总统、冷战刚刚开始以来的最低水平。\nSavita Subramanian牵头的策略师在周三的一份报告中写道，标普500指数目前的实际盈利收益率为-2.9%，意味着如果公司业绩不持续增长，那么投资者经通胀调整后将损失2.9%。“上次实际盈利收益率为负还是1947年。”\n策略师们表示，前四次实际盈利收益率为负的时候，均出现了熊市。他们建议投资者在能源、金融和房地产等抗通胀板块寻求避险。他们表示，对未来12个月通胀率将从6.2%降至2.5%的预期可能过于乐观，这代表着40年来最急速的通胀下降。\n美国银行一直看跌美国和欧洲股市，尽管两边主要指数最近几个月都创历史新高。在新冠病毒omicron变异株引发市场短暂下跌之后，标普500指数已经反弹并徘徊在纪录高位附近。\n\n美国商务部长：对欧盟数字法案的影响感到担忧\n美国商务部长雷蒙多表示，美国感到“严重关切”的是，欧盟的数字市场法案和数字服务法案会过度地影响总部在美国的科技企业及其充分服务欧盟客户、捍卫安全和隐私标准的能力。\n美国鼓励欧盟在推进立法程序之际，听取利益攸关方对这些法案的关切。\n雷蒙多以视频连线方式在美国商会的跨大西洋商业工作峰会上表示。\n雷蒙多指出，美国意识到，欧盟希望利用这些法案来营造公平、透明和安全的数字空间。\n她说，拜登政府认为敲定加强版的欧盟-美国“隐私盾”是第一要务，她仍然在积极地参与谈判。\n\n等待芯片交付的时间再度拉长 缺货现象料难改善\n芯片交付时间在11月份再次拉长，浇灭了令许多行业蒙受损失的缺货现象终见天日的希望。\nSusquehanna Financial Group的研究显示，备受关注的前置时间上个月比10月份增加了四天，达到约22.3周。这一等待时间创下了该公司2017年开始跟踪数据以来的最长纪录。\n对需要更多芯片的行业来说是这无疑是个挫折。包括苹果公司和福特汽车在内的各类企业都抱怨无法满足客户对产品的需求，而同时成本也在上升。芯片交付时间增速在10月曾出现放缓，燃起了认为形势正在改善的乐观情绪。\n“虽然增长比最近几个月的大多数时间要短，但我们本来是希望出现明显逆转的，” Susquehanna分析师Chris Rolland在研究报告中表示。\n\n英国首相恢复居家工作建议 以遏制omicron传播\n英国首相鲍里斯·约翰逊收紧防疫规定以遏制变异毒株omicron的传播，建议人们在家工作，并强制要求在大型公共场所使用“疫苗护照”。\n“越来越明显的是，omicron增长速度远快于德尔塔，”约翰逊在周三电视新闻发布会上宣布了英格兰地区的新防疫措施。他表示，“实施B计划是合适而负责任的做法”。\n即便在omicron出现前，英国单日新增新冠病例已经连续数月保持较高水平，因此有警告称这个新毒株将使医院系统不堪重负。在约翰逊宣布启动B计划前，苏格兰、威尔士和北爱尔兰已经实施了更严格的防疫限制。\n虽然新规远没有达到先前实施封锁时的严厉程度，但仍代表着重大调整，对约翰逊而言存在政治风险。约翰逊政府原本希望通过加快加强针的接种，避免在圣诞节期间推出新的限制措施。","news_type":1,"symbols_score_info":{".DJI":0.9,"JPM":0.9,".SPX":0.9,".IXIC":0.9,"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":3187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606704652,"gmtCreate":1638925428859,"gmtModify":1638925428982,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/606704652","repostId":"1126499030","repostType":2,"isVote":1,"tweetType":1,"viewCount":3292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":834001626,"gmtCreate":1629760331765,"gmtModify":1631889147561,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/834001626","repostId":"2161777891","repostType":4,"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833811872,"gmtCreate":1629214940696,"gmtModify":1631892526101,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/833811872","repostId":"1115558959","repostType":4,"isVote":1,"tweetType":1,"viewCount":757,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895209240,"gmtCreate":1628743744180,"gmtModify":1631892526112,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/895209240","repostId":"1138116573","repostType":4,"isVote":1,"tweetType":1,"viewCount":342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806648244,"gmtCreate":1627655143988,"gmtModify":1631892526129,"author":{"id":"4087984929373480","authorId":"4087984929373480","name":"RichWife","avatar":"https://static.tigerbbs.com/60a20705b82a8df8f17c3a21c32e8bbe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087984929373480","idStr":"4087984929373480"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806648244","repostId":"1155019271","repostType":4,"isVote":1,"tweetType":1,"viewCount":294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}