Jimmyboy
2021-12-07
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Instead of chasing momentum stocks into the graveyard, do this instead, strategist says<blockquote>策略师表示，与其将动量股追入坟墓，不如这样做</blockquote>
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On Monday, the ARK Innovation ETF (ARKK), which surge","content":"<p>Last year's winners haven't been doing so hot. On Monday, the <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> (ARKK), which surged 153% in 2020, closed higher for only the second time in 14 sessions, and has dropped 24% this year. \"We believe you should invest based on what you see, and what you see is high multiple, unprofitable tech get slaughtered with the selling starting to seep into other areas,\" says Matthew Tuttle, the chief executive and chief investment officer at Tuttle Capital Management.</p><p><blockquote>去年的获奖者表现不太好。周一，<a href=\"https://laohu8.com/S/ARKK\">方舟创新ETF</a>(ARKK)在2020年大涨153%，仅在14个交易日内第二次收高，今年以来已下跌24%。塔特尔资本(Tuttle Capital)首席执行官兼首席投资官马修·塔特尔(Matthew Tuttle)表示：“我们认为，你应该根据你所看到的进行投资，而你所看到的是高市盈率、无利可图的科技股随着抛售开始渗透到其他领域而遭到屠杀。”管理。</blockquote></p><p> Michael Darda, chief economist and market strategist at MKM Partners, has a similar warning, but first he wanted to give a reality check. After the Powell Pivot and the signal the head of the Federal Reserve likely supports faster tapering, he says some investors are worried the central bank may tighten too much. \"There is virtually no evidence that the Fed is getting in front of the curve in a destabilizing way,\" replies Darda. \"Bond market inflation expectations pulling back from 'too high' levels to 'still elevated' levels relative to an average 2% per annum path for inflation do not represent a material tightening in monetary policy.\"</p><p><blockquote>MKM Partners首席经济学家兼市场策略师迈克尔·达尔达(Michael Darda)也提出了类似的警告，但首先他想进行现实检验。在鲍威尔转向以及美联储主席可能支持加快缩减规模的信号之后，他表示一些投资者担心央行可能会过度紧缩。“几乎没有证据表明美联储以不稳定的方式走在了曲线的前面，”达尔达回答道。“相对于平均每年2%的通胀路径，债券市场通胀预期从‘过高’水平回落至‘仍然较高’水平，并不代表货币政策大幅收紧。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1485c25b0f967b0c4b9b911009c69575\" tg-width=\"700\" tg-height=\"441\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The last time the labor market was near current levels of utilization, real interest rates were 2 percentage points higher, he notes. The breakdown in the relationship between metals and gold, and the 10-year Treasury yield, is more evidence of distortions in the bond market, he adds. \"If the bottom were suddenly falling out of global and/or domestic industrial demand, the resilience of metals to gold would be highly unlikely,\" he says.</p><p><blockquote>他指出，上次劳动力市场接近当前利用率水平时，实际利率高出2个百分点。他补充道，金属和黄金以及10年期国债收益率之间关系的破裂更多地证明了债券市场的扭曲。“如果全球和/或国内工业需求突然触底，金属对黄金的弹性将极不可能，”他表示。</blockquote></p><p> Despite monetary policy that is as loose as a goose, Darda still warns that assets that are priced for perfection against record profits and liquidity could falter for any number of reasons, which already is happening for the highest valued names in the Nasdaq-100.</p><p><blockquote>尽管货币政策像鹅一样宽松，但达尔达仍然警告说，相对于创纪录的利润和流动性，定价完美的资产可能会因多种原因而动摇，这种情况已经发生在纳斯达克100指数中估值最高的股票身上。</blockquote></p><p> \"We continue to take an upbeat view on the reopening stocks which have been crushed and also small cap value,\" says Darda. \"We remain bearish on hyper-valued growth. Back in the old days, high valuations used to mean lower expected future returns. Blinded by liquidity and false expectations of the proverbial Fed put, we fear that some investors are chasing momentum into the graveyard.\"</p><p><blockquote>达尔达表示：“我们继续对重新开放的股票以及小盘股持乐观态度。”“我们仍然看空估值过高的增长。过去，高估值意味着较低的未来预期回报。被流动性和众所周知的美联储看跌期权的错误预期蒙蔽了双眼，我们担心一些投资者正在追逐势头进入坟墓。”</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>Instead of chasing momentum stocks into the graveyard, do this instead, strategist says<blockquote>策略师表示，与其将动量股追入坟墓，不如这样做</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\">\nInstead of chasing momentum stocks into the graveyard, do this instead, strategist says<blockquote>策略师表示，与其将动量股追入坟墓，不如这样做</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-12-07 20:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Last year's winners haven't been doing so hot. On Monday, the <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> (ARKK), which surged 153% in 2020, closed higher for only the second time in 14 sessions, and has dropped 24% this year. \"We believe you should invest based on what you see, and what you see is high multiple, unprofitable tech get slaughtered with the selling starting to seep into other areas,\" says Matthew Tuttle, the chief executive and chief investment officer at Tuttle Capital Management.</p><p><blockquote>去年的获奖者表现不太好。周一，<a href=\"https://laohu8.com/S/ARKK\">方舟创新ETF</a>(ARKK)在2020年大涨153%，仅在14个交易日内第二次收高，今年以来已下跌24%。塔特尔资本(Tuttle Capital)首席执行官兼首席投资官马修·塔特尔(Matthew Tuttle)表示：“我们认为，你应该根据你所看到的进行投资，而你所看到的是高市盈率、无利可图的科技股随着抛售开始渗透到其他领域而遭到屠杀。”管理。</blockquote></p><p> Michael Darda, chief economist and market strategist at MKM Partners, has a similar warning, but first he wanted to give a reality check. After the Powell Pivot and the signal the head of the Federal Reserve likely supports faster tapering, he says some investors are worried the central bank may tighten too much. \"There is virtually no evidence that the Fed is getting in front of the curve in a destabilizing way,\" replies Darda. \"Bond market inflation expectations pulling back from 'too high' levels to 'still elevated' levels relative to an average 2% per annum path for inflation do not represent a material tightening in monetary policy.\"</p><p><blockquote>MKM Partners首席经济学家兼市场策略师迈克尔·达尔达(Michael Darda)也提出了类似的警告，但首先他想进行现实检验。在鲍威尔转向以及美联储主席可能支持加快缩减规模的信号之后，他表示一些投资者担心央行可能会过度紧缩。“几乎没有证据表明美联储以不稳定的方式走在了曲线的前面，”达尔达回答道。“相对于平均每年2%的通胀路径，债券市场通胀预期从‘过高’水平回落至‘仍然较高’水平，并不代表货币政策大幅收紧。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1485c25b0f967b0c4b9b911009c69575\" tg-width=\"700\" tg-height=\"441\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The last time the labor market was near current levels of utilization, real interest rates were 2 percentage points higher, he notes. The breakdown in the relationship between metals and gold, and the 10-year Treasury yield, is more evidence of distortions in the bond market, he adds. \"If the bottom were suddenly falling out of global and/or domestic industrial demand, the resilience of metals to gold would be highly unlikely,\" he says.</p><p><blockquote>他指出，上次劳动力市场接近当前利用率水平时，实际利率高出2个百分点。他补充道，金属和黄金以及10年期国债收益率之间关系的破裂更多地证明了债券市场的扭曲。“如果全球和/或国内工业需求突然触底，金属对黄金的弹性将极不可能，”他表示。</blockquote></p><p> Despite monetary policy that is as loose as a goose, Darda still warns that assets that are priced for perfection against record profits and liquidity could falter for any number of reasons, which already is happening for the highest valued names in the Nasdaq-100.</p><p><blockquote>尽管货币政策像鹅一样宽松，但达尔达仍然警告说，相对于创纪录的利润和流动性，定价完美的资产可能会因多种原因而动摇，这种情况已经发生在纳斯达克100指数中估值最高的股票身上。</blockquote></p><p> \"We continue to take an upbeat view on the reopening stocks which have been crushed and also small cap value,\" says Darda. \"We remain bearish on hyper-valued growth. Back in the old days, high valuations used to mean lower expected future returns. Blinded by liquidity and false expectations of the proverbial Fed put, we fear that some investors are chasing momentum into the graveyard.\"</p><p><blockquote>达尔达表示：“我们继续对重新开放的股票以及小盘股持乐观态度。”“我们仍然看空估值过高的增长。过去，高估值意味着较低的未来预期回报。被流动性和众所周知的美联储看跌期权的错误预期蒙蔽了双眼，我们担心一些投资者正在追逐势头进入坟墓。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/instead-of-chasing-momentum-stocks-into-the-graveyard-do-this-instead-strategist-says-11638878393?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":{"BK4535":"淡马锡持仓","MDB":"MongoDB Inc.","BK4515":"5G概念","VIR":"Vir Biotechnology, Inc.","BK4568":"美国抗疫概念","BK4550":"红杉资本持仓","TSLA":"特斯拉","BK4548":"巴美列捷福持仓",".SPX":"S&P 500 Index","INTC":"英特尔","BK4007":"制药","BK4551":"寇图资本持仓","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4512":"苹果概念","BK4527":"明星科技股","BK4116":"互联网服务与基础架构","BK4099":"汽车制造商","BK4141":"半导体产品","BK4534":"瑞士信贷持仓",".DJI":"道琼斯","BK4139":"生物科技","GSK":"葛兰素史克","GSK.UK":"葛兰素史克","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4544":"ARK ETF合集",".IXIC":"NASDAQ Composite","BK4529":"IDC概念","BK4516":"特朗普概念"},"source_url":"https://www.marketwatch.com/story/instead-of-chasing-momentum-stocks-into-the-graveyard-do-this-instead-strategist-says-11638878393?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2189631205","content_text":"Last year's winners haven't been doing so hot. On Monday, the ARK Innovation ETF (ARKK), which surged 153% in 2020, closed higher for only the second time in 14 sessions, and has dropped 24% this year. \"We believe you should invest based on what you see, and what you see is high multiple, unprofitable tech get slaughtered with the selling starting to seep into other areas,\" says Matthew Tuttle, the chief executive and chief investment officer at Tuttle Capital Management.\nMichael Darda, chief economist and market strategist at MKM Partners, has a similar warning, but first he wanted to give a reality check. After the Powell Pivot and the signal the head of the Federal Reserve likely supports faster tapering, he says some investors are worried the central bank may tighten too much. \"There is virtually no evidence that the Fed is getting in front of the curve in a destabilizing way,\" replies Darda. \"Bond market inflation expectations pulling back from 'too high' levels to 'still elevated' levels relative to an average 2% per annum path for inflation do not represent a material tightening in monetary policy.\"\n\nThe last time the labor market was near current levels of utilization, real interest rates were 2 percentage points higher, he notes. The breakdown in the relationship between metals and gold, and the 10-year Treasury yield, is more evidence of distortions in the bond market, he adds. \"If the bottom were suddenly falling out of global and/or domestic industrial demand, the resilience of metals to gold would be highly unlikely,\" he says.\nDespite monetary policy that is as loose as a goose, Darda still warns that assets that are priced for perfection against record profits and liquidity could falter for any number of reasons, which already is happening for the highest valued names in the Nasdaq-100.\n\"We continue to take an upbeat view on the reopening stocks which have been crushed and also small cap value,\" says Darda. \"We remain bearish on hyper-valued growth. Back in the old days, high valuations used to mean lower expected future returns. Blinded by liquidity and false expectations of the proverbial Fed put, we fear that some investors are chasing momentum into the graveyard.\"","news_type":1,"symbols_score_info":{"GSK.UK":0.9,"VIR":0.9,".DJI":0.9,"GSK":0.9,".SPX":0.9,".IXIC":0.9,"INTC":0.9,"MDB":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":689,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":10,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/606234150"}
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