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Zasper

Zasper

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2022-01-26

Jialat liao

AMC in Advanced Talks to Refinance Debt as Meme-Stock Luster Fades<blockquote>随着模因股票光彩消退，AMC正在就债务再融资进行深入谈判</blockquote>

2022-01-23

Ok

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2022-01-17

Ok

Day Traders as ‘Dumb Money’? The Pros Are Now Paying Attention<blockquote>日内交易者是“笨钱”？专业人士现在正在关注</blockquote>

2022-01-16

Ok

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2022-01-15

Why my post can't be seen?

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2022-01-15

Weird

Morgan Stanley Promotes Biggest Class of Managing Directors Since 2012<blockquote>摩根士丹利提拔2012年以来最大规模的董事总经理</blockquote>

2022-01-15

Haha

*麦格理首予小鹏汽车－Ｗ(09868)跑赢大市评级目标价221港元

2021-12-28

K

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2021-12-27

Ok

Santa Claus Rally watch: What to know this week<blockquote>圣诞老人集会观察：本周需要了解什么</blockquote>

2021-12-26

Ok

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2021-12-26

Yeah

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2021-12-24

Ok

Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</blockquote>

2021-12-23

Good hor

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2021-12-22

Hehe

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2021-12-21

Ok

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2021-12-19

Ok

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2021-12-17

Sad

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2021-12-16

Haha those who bought it will disagree

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2021-12-15

Lol

PayPal Holdings: Buying This Dip Will Make You Pay Pal<blockquote>PayPal控股：逢低买入会让你付钱</blockquote>

2021-12-14

Like

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liao&nbsp;","listText":"Jialat liao&nbsp;","text":"Jialat liao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/639392941","repostId":"1111320468","repostType":4,"repost":{"id":"1111320468","kind":"news","pubTimestamp":1643152276,"share":"https://www.laohu8.com/m/news/1111320468?lang=zh_CN&edition=full","pubTime":"2022-01-26 07:11","market":"us","language":"en","title":"AMC in Advanced Talks to Refinance Debt as Meme-Stock Luster Fades<blockquote>随着模因股票光彩消退，AMC正在就债务再融资进行深入谈判</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111320468","media":"The Wall Street Journal","summary":"As AMC shares and bonds fall, the cinema giant is in active discussions to refinance its high-intere","content":"<p><html><head></head><body>As AMC shares and bonds fall, the cinema giant is in active discussions to refinance its high-interest debt, people familiar with the matter said</p><p><blockquote><html><head></head><body>知情人士称，随着AMC股票和债券下跌，这家电影巨头正在积极讨论为其高息债务进行再融资</body></html></blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8bbd83fd4b253c1c0c2ce62fec75beec\" tg-width=\"860\" tg-height=\"573\" width=\"100%\" height=\"auto\"/><span>AMC shares have fallen 41% this year through Tuesday’s market close.</span></p><p><blockquote><p class=\"t-img-caption\"><span>截至周二收盘，AMC股价今年已下跌41%。</span></p></blockquote></p><p>AMC Entertainment Holdings Inc. is stepping up its efforts to refinance some of its debt as the cinema chain’s shares and bonds have slumped, giving up most of their gains since the company became a meme-stock favorite.</p><p><blockquote>AMC院线控股公司正在加紧努力为其部分债务进行再融资，因为这家连锁影院的股票和债券暴跌，回吐了自该公司成为模因股票最爱以来的大部分涨幅。</blockquote></p><p>AMC is in advanced refinancing talks with multiple interested parties, according to people familiar with the matter who said the company has options to lower its interest burden and stretch out maturities by several years.</p><p><blockquote>据知情人士透露，AMC正在与多个感兴趣的各方进行深入的再融资谈判，该公司可以选择降低利息负担并将期限延长几年。</blockquote></p><p>Chief Executive Adam Aron said earlier this year that in 2022 he would like to refinance the expensive debt the company took on to outlast the pandemic. The selloff in AMC’s bonds might make refinancing more difficult, especially as the Federal Reserve prepares to raise rates, according to financial analysts.</p><p><blockquote>首席执行官亚当·阿伦(Adam Aron)今年早些时候表示，他希望在2022年为公司承担的昂贵债务进行再融资，以度过疫情。金融分析师表示，AMC债券的抛售可能会使再融资变得更加困难，尤其是在美联储准备加息之际。</blockquote></p><p>AMC’s stock has declined by 41% this year through Tuesday’s market close, a steeper drop than the broader market selloff hitting stocks and cryptocurrencies. While the company’s bonds had previously held up even as its shares slipped, on Monday the bonds dropped by several points. That indicates that even creditors, who enjoy a greater degree of protection from losses than stockholders, are getting skittish about the business.</p><p><blockquote>截至周二收盘，AMC的股价今年已下跌41%，跌幅比股市和加密货币遭受的大盘抛售还要大。尽管该公司的债券此前在股价下跌时仍保持稳定，但周一债券下跌了几个点。这表明，即使是比股东享有更大程度的损失保护的债权人，也对业务感到不安。</blockquote></p><p>AMC isn’t targeting all of its debt stack for refinancing, just some of its bonds that carry especially high interest, one of the people familiar with the matter said. Even if the decline in AMC’s bond prices caused their yields to rise, the company may still be able to strike a deal that would cut interest expense compared with what it pays now, the person said.</p><p><blockquote>一位知情人士表示，AMC并没有将其所有债务进行再融资，只是部分利息特别高的债券。该人士表示，即使AMC债券价格下跌导致其收益率上升，该公司仍可能达成一项协议，与目前支付的利息相比，将削减利息支出。</blockquote></p><p>AMC had $5.5 billion of debt as of September that ranks ahead of the equity, including high-interest bonds, and owed $376 million of lease payments that were deferred during the pandemic.</p><p><blockquote>截至9月份，AMC的债务为55亿美元，领先于股本，其中包括高息债券，并欠下3.76亿美元在疫情期间延期的租赁付款。</blockquote></p><p>On Tuesday, AMC’s $1.5 billion in secured 10% bonds due 2026 traded as low as 92 cents on the dollar, down from 99.5 cents at the start of the year. Another bond with less collateral protection traded as low as 69 cents on the dollar on Monday, down from 72 cents in early January, according to MarketAxess.</p><p><blockquote>周二，AMC 2026年到期的15亿美元10%担保债券兑美元汇率低至92美分，低于年初的99.5美分。根据MarketAxess的数据，另一种抵押品保护较差的债券周一交易价格低至69美分，低于1月初的72美分。</blockquote></p><p>In early 2021, AMC became a darling of individual investors, many of whom refer to themselves as the apes.They helped push AMC’s stock price to eye-popping heights through meme-heavy social-media hype, and they came to own more than 80% of the company.</p><p><blockquote>2021年初，AMC成为个人投资者的宠儿，其中许多人将自己称为猿类。他们通过大量的社交媒体炒作，帮助AMC的股价达到了令人瞠目结舌的高度，并拥有了该公司80%以上的股份。</blockquote></p><p>“At first it was a very well-defined and purposeful anti-Wall Street type movement,” said Chad Beynon, an analyst at Macquarie Group Ltd., regarding the ape community. “That story is no longer as attractive. After seeing it not working for a few months, there’s some sort of fatigue.”</p><p><blockquote>麦格理集团(Macquarie Group Ltd.)分析师查德·贝农(Chad Beynon)在谈到ape社区时表示：“起初，这是一场定义明确、目的明确的反华尔街运动。”“那个故事已经没有那么吸引人了，看了几个月不起作用，有种疲劳感。”</blockquote></p><p>AMC, as well as its peers in the cinema business, continue to struggle with getting customers into their theaters as the pandemic drags on. While the film “Spider-Man: No Way Home” was a recent hit for the theater industry, box-office revenue for the latest weekend amounted to a mere $46 million, compared with $123 million the same weekend in 2020, and $104 million in 2019, according to Comscore data.</p><p><blockquote>随着疫情的持续，AMC及其影院行业的同行继续努力吸引顾客进入影院。根据Comscore的数据，虽然电影《蜘蛛侠：英雄无归》最近在影院行业大受欢迎，但最近一个周末的票房收入仅为4600万美元，而2020年同一周末为1.23亿美元，2019年为1.04亿美元。</blockquote></p><p>Since the Covid-19 pandemic began, AMC has stayed alive by a combination of selling new shares, taking on new debt and getting landlords to agree to delay collecting rent payments. But the apes’ takeover of AMC has restricted its options for dealing with the debts it took on to get through the worst of the pandemic lockdowns.</p><p><blockquote>自Covid-19大流行开始以来，AMC通过出售新股、承担新债务以及让房东同意推迟收取租金等方式得以生存。但apes对AMC的收购限制了其处理债务的选择，以度过最严重的大流行封锁。</blockquote></p><p>Last year, AMC twice failed to win shareholder approval of new equity issuances as apes fretted about dilution, despite Mr. Aron lobbying to allow for more shares to be sold. Now the company isn’t able to issue stock to pay down debt, said Michael Pachter, an analyst at Wedbush Securities.</p><p><blockquote>去年，尽管阿伦先生游说允许出售更多股票，但由于APE担心股权稀释，AMC两次未能赢得股东对新股发行的批准。韦德布什证券(Wedbush Securities)分析师迈克尔·帕切特(Michael Pachter)表示，现在该公司无法发行股票来偿还债务。</blockquote></p><p>“The shareholders blew that,” Mr. Pachter said.</p><p><blockquote>“股东们搞砸了，”帕切特先生说。</blockquote></p><p>Despite the sliding share price, some apes are holding on, viewing their commitment to AMC as an act of defiance against the hedge funds and Wall Street institutions that bet against the stock by short selling it. The ape community has also become a forum for opposition to a financial system they believe stacks the deck against individual investors.</p><p><blockquote>尽管股价下滑，但一些猿类仍在坚持，将他们对AMC的承诺视为对对冲基金和华尔街机构的蔑视，这些机构通过卖空该股来做空该股。ape社区也成为反对金融体系的论坛，他们认为金融体系对个人投资者不利。</blockquote></p><p>Anton Torres, a cable technician in Washington state who bought stock in AMC last January, said that he and the other apes he knows are holding on to their shares because they believe that AMC’s stock price might rise again.</p><p><blockquote>去年1月购买了AMC股票的华盛顿州电缆技术员安东·托雷斯(Anton Torres)表示，他和他认识的其他猿类都持有自己的股票，因为他们相信AMC的股价可能会再次上涨。</blockquote></p><p>“I’m holding hoping the value increases, but I’m also holding because it’s bringing awareness to a system that is poorly regulated and I like the stock,” Mr. Torres said.</p><p><blockquote>“我持有是希望价值会增加，但我持有也是因为它让人们意识到监管不力的系统，而且我喜欢这只股票，”托雷斯先生说。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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>AMC in Advanced Talks to Refinance Debt as Meme-Stock Luster Fades<blockquote>随着模因股票光彩消退，AMC正在就债务再融资进行深入谈判</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; 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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\">\nAMC in Advanced Talks to Refinance Debt as Meme-Stock Luster Fades<blockquote>随着模因股票光彩消退，AMC正在就债务再融资进行深入谈判</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2022-01-26 07:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>As AMC shares and bonds fall, the cinema giant is in active discussions to refinance its high-interest debt, people familiar with the matter said</p><p><blockquote><html><head></head><body>知情人士称，随着AMC股票和债券下跌，这家电影巨头正在积极讨论为其高息债务进行再融资</body></html></blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8bbd83fd4b253c1c0c2ce62fec75beec\" tg-width=\"860\" tg-height=\"573\" width=\"100%\" height=\"auto\"/><span>AMC shares have fallen 41% this year through Tuesday’s market close.</span></p><p><blockquote><p class=\"t-img-caption\"><span>截至周二收盘，AMC股价今年已下跌41%。</span></p></blockquote></p><p>AMC Entertainment Holdings Inc. is stepping up its efforts to refinance some of its debt as the cinema chain’s shares and bonds have slumped, giving up most of their gains since the company became a meme-stock favorite.</p><p><blockquote>AMC院线控股公司正在加紧努力为其部分债务进行再融资，因为这家连锁影院的股票和债券暴跌，回吐了自该公司成为模因股票最爱以来的大部分涨幅。</blockquote></p><p>AMC is in advanced refinancing talks with multiple interested parties, according to people familiar with the matter who said the company has options to lower its interest burden and stretch out maturities by several years.</p><p><blockquote>据知情人士透露，AMC正在与多个感兴趣的各方进行深入的再融资谈判，该公司可以选择降低利息负担并将期限延长几年。</blockquote></p><p>Chief Executive Adam Aron said earlier this year that in 2022 he would like to refinance the expensive debt the company took on to outlast the pandemic. The selloff in AMC’s bonds might make refinancing more difficult, especially as the Federal Reserve prepares to raise rates, according to financial analysts.</p><p><blockquote>首席执行官亚当·阿伦(Adam Aron)今年早些时候表示，他希望在2022年为公司承担的昂贵债务进行再融资，以度过疫情。金融分析师表示，AMC债券的抛售可能会使再融资变得更加困难，尤其是在美联储准备加息之际。</blockquote></p><p>AMC’s stock has declined by 41% this year through Tuesday’s market close, a steeper drop than the broader market selloff hitting stocks and cryptocurrencies. While the company’s bonds had previously held up even as its shares slipped, on Monday the bonds dropped by several points. That indicates that even creditors, who enjoy a greater degree of protection from losses than stockholders, are getting skittish about the business.</p><p><blockquote>截至周二收盘，AMC的股价今年已下跌41%，跌幅比股市和加密货币遭受的大盘抛售还要大。尽管该公司的债券此前在股价下跌时仍保持稳定，但周一债券下跌了几个点。这表明，即使是比股东享有更大程度的损失保护的债权人，也对业务感到不安。</blockquote></p><p>AMC isn’t targeting all of its debt stack for refinancing, just some of its bonds that carry especially high interest, one of the people familiar with the matter said. Even if the decline in AMC’s bond prices caused their yields to rise, the company may still be able to strike a deal that would cut interest expense compared with what it pays now, the person said.</p><p><blockquote>一位知情人士表示，AMC并没有将其所有债务进行再融资，只是部分利息特别高的债券。该人士表示，即使AMC债券价格下跌导致其收益率上升，该公司仍可能达成一项协议，与目前支付的利息相比，将削减利息支出。</blockquote></p><p>AMC had $5.5 billion of debt as of September that ranks ahead of the equity, including high-interest bonds, and owed $376 million of lease payments that were deferred during the pandemic.</p><p><blockquote>截至9月份，AMC的债务为55亿美元，领先于股本，其中包括高息债券，并欠下3.76亿美元在疫情期间延期的租赁付款。</blockquote></p><p>On Tuesday, AMC’s $1.5 billion in secured 10% bonds due 2026 traded as low as 92 cents on the dollar, down from 99.5 cents at the start of the year. Another bond with less collateral protection traded as low as 69 cents on the dollar on Monday, down from 72 cents in early January, according to MarketAxess.</p><p><blockquote>周二，AMC 2026年到期的15亿美元10%担保债券兑美元汇率低至92美分，低于年初的99.5美分。根据MarketAxess的数据，另一种抵押品保护较差的债券周一交易价格低至69美分，低于1月初的72美分。</blockquote></p><p>In early 2021, AMC became a darling of individual investors, many of whom refer to themselves as the apes.They helped push AMC’s stock price to eye-popping heights through meme-heavy social-media hype, and they came to own more than 80% of the company.</p><p><blockquote>2021年初，AMC成为个人投资者的宠儿，其中许多人将自己称为猿类。他们通过大量的社交媒体炒作，帮助AMC的股价达到了令人瞠目结舌的高度，并拥有了该公司80%以上的股份。</blockquote></p><p>“At first it was a very well-defined and purposeful anti-Wall Street type movement,” said Chad Beynon, an analyst at Macquarie Group Ltd., regarding the ape community. “That story is no longer as attractive. After seeing it not working for a few months, there’s some sort of fatigue.”</p><p><blockquote>麦格理集团(Macquarie Group Ltd.)分析师查德·贝农(Chad Beynon)在谈到ape社区时表示：“起初，这是一场定义明确、目的明确的反华尔街运动。”“那个故事已经没有那么吸引人了，看了几个月不起作用，有种疲劳感。”</blockquote></p><p>AMC, as well as its peers in the cinema business, continue to struggle with getting customers into their theaters as the pandemic drags on. While the film “Spider-Man: No Way Home” was a recent hit for the theater industry, box-office revenue for the latest weekend amounted to a mere $46 million, compared with $123 million the same weekend in 2020, and $104 million in 2019, according to Comscore data.</p><p><blockquote>随着疫情的持续，AMC及其影院行业的同行继续努力吸引顾客进入影院。根据Comscore的数据，虽然电影《蜘蛛侠：英雄无归》最近在影院行业大受欢迎，但最近一个周末的票房收入仅为4600万美元，而2020年同一周末为1.23亿美元，2019年为1.04亿美元。</blockquote></p><p>Since the Covid-19 pandemic began, AMC has stayed alive by a combination of selling new shares, taking on new debt and getting landlords to agree to delay collecting rent payments. But the apes’ takeover of AMC has restricted its options for dealing with the debts it took on to get through the worst of the pandemic lockdowns.</p><p><blockquote>自Covid-19大流行开始以来，AMC通过出售新股、承担新债务以及让房东同意推迟收取租金等方式得以生存。但apes对AMC的收购限制了其处理债务的选择，以度过最严重的大流行封锁。</blockquote></p><p>Last year, AMC twice failed to win shareholder approval of new equity issuances as apes fretted about dilution, despite Mr. Aron lobbying to allow for more shares to be sold. Now the company isn’t able to issue stock to pay down debt, said Michael Pachter, an analyst at Wedbush Securities.</p><p><blockquote>去年，尽管阿伦先生游说允许出售更多股票，但由于APE担心股权稀释，AMC两次未能赢得股东对新股发行的批准。韦德布什证券(Wedbush Securities)分析师迈克尔·帕切特(Michael Pachter)表示，现在该公司无法发行股票来偿还债务。</blockquote></p><p>“The shareholders blew that,” Mr. Pachter said.</p><p><blockquote>“股东们搞砸了，”帕切特先生说。</blockquote></p><p>Despite the sliding share price, some apes are holding on, viewing their commitment to AMC as an act of defiance against the hedge funds and Wall Street institutions that bet against the stock by short selling it. The ape community has also become a forum for opposition to a financial system they believe stacks the deck against individual investors.</p><p><blockquote>尽管股价下滑，但一些猿类仍在坚持，将他们对AMC的承诺视为对对冲基金和华尔街机构的蔑视，这些机构通过卖空该股来做空该股。ape社区也成为反对金融体系的论坛，他们认为金融体系对个人投资者不利。</blockquote></p><p>Anton Torres, a cable technician in Washington state who bought stock in AMC last January, said that he and the other apes he knows are holding on to their shares because they believe that AMC’s stock price might rise again.</p><p><blockquote>去年1月购买了AMC股票的华盛顿州电缆技术员安东·托雷斯(Anton Torres)表示，他和他认识的其他猿类都持有自己的股票，因为他们相信AMC的股价可能会再次上涨。</blockquote></p><p>“I’m holding hoping the value increases, but I’m also holding because it’s bringing awareness to a system that is poorly regulated and I like the stock,” Mr. Torres said.</p><p><blockquote>“我持有是希望价值会增加，但我持有也是因为它让人们意识到监管不力的系统，而且我喜欢这只股票，”托雷斯先生说。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/amc-in-advanced-talks-to-refinance-debt-as-meme-stock-luster-fades-11643121676?mod=lead_feature_below_a_pos1\">The Wall Street Journal</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":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-in-advanced-talks-to-refinance-debt-as-meme-stock-luster-fades-11643121676?mod=lead_feature_below_a_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111320468","content_text":"As AMC shares and bonds fall, the cinema giant is in active discussions to refinance its high-interest debt, people familiar with the matter saidAMC shares have fallen 41% this year through Tuesday’s market close.AMC Entertainment Holdings Inc. is stepping up its efforts to refinance some of its debt as the cinema chain’s shares and bonds have slumped, giving up most of their gains since the company became a meme-stock favorite.AMC is in advanced refinancing talks with multiple interested parties, according to people familiar with the matter who said the company has options to lower its interest burden and stretch out maturities by several years.Chief Executive Adam Aron said earlier this year that in 2022 he would like to refinance the expensive debt the company took on to outlast the pandemic. The selloff in AMC’s bonds might make refinancing more difficult, especially as the Federal Reserve prepares to raise rates, according to financial analysts.AMC’s stock has declined by 41% this year through Tuesday’s market close, a steeper drop than the broader market selloff hitting stocks and cryptocurrencies. While the company’s bonds had previously held up even as its shares slipped, on Monday the bonds dropped by several points. That indicates that even creditors, who enjoy a greater degree of protection from losses than stockholders, are getting skittish about the business.AMC isn’t targeting all of its debt stack for refinancing, just some of its bonds that carry especially high interest, one of the people familiar with the matter said. Even if the decline in AMC’s bond prices caused their yields to rise, the company may still be able to strike a deal that would cut interest expense compared with what it pays now, the person said.AMC had $5.5 billion of debt as of September that ranks ahead of the equity, including high-interest bonds, and owed $376 million of lease payments that were deferred during the pandemic.On Tuesday, AMC’s $1.5 billion in secured 10% bonds due 2026 traded as low as 92 cents on the dollar, down from 99.5 cents at the start of the year. Another bond with less collateral protection traded as low as 69 cents on the dollar on Monday, down from 72 cents in early January, according to MarketAxess.In early 2021, AMC became a darling of individual investors, many of whom refer to themselves as the apes.They helped push AMC’s stock price to eye-popping heights through meme-heavy social-media hype, and they came to own more than 80% of the company.“At first it was a very well-defined and purposeful anti-Wall Street type movement,” said Chad Beynon, an analyst at Macquarie Group Ltd., regarding the ape community. “That story is no longer as attractive. After seeing it not working for a few months, there’s some sort of fatigue.”AMC, as well as its peers in the cinema business, continue to struggle with getting customers into their theaters as the pandemic drags on. While the film “Spider-Man: No Way Home” was a recent hit for the theater industry, box-office revenue for the latest weekend amounted to a mere $46 million, compared with $123 million the same weekend in 2020, and $104 million in 2019, according to Comscore data.Since the Covid-19 pandemic began, AMC has stayed alive by a combination of selling new shares, taking on new debt and getting landlords to agree to delay collecting rent payments. But the apes’ takeover of AMC has restricted its options for dealing with the debts it took on to get through the worst of the pandemic lockdowns.Last year, AMC twice failed to win shareholder approval of new equity issuances as apes fretted about dilution, despite Mr. Aron lobbying to allow for more shares to be sold. Now the company isn’t able to issue stock to pay down debt, said Michael Pachter, an analyst at Wedbush Securities.“The shareholders blew that,” Mr. Pachter said.Despite the sliding share price, some apes are holding on, viewing their commitment to AMC as an act of defiance against the hedge funds and Wall Street institutions that bet against the stock by short selling it. The ape community has also become a forum for opposition to a financial system they believe stacks the deck against individual investors.Anton Torres, a cable technician in Washington state who bought stock in AMC last January, said that he and the other apes he knows are holding on to their shares because they believe that AMC’s stock price might rise again.“I’m holding hoping the value increases, but I’m also holding because it’s bringing awareness to a system that is poorly regulated and I like the stock,” Mr. Torres said.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":2892,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":630228276,"gmtCreate":1642919493367,"gmtModify":1642919493488,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/630228276","repostId":"2205024969","repostType":4,"isVote":1,"tweetType":1,"viewCount":2429,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697121059,"gmtCreate":1642379402392,"gmtModify":1642379402504,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/697121059","repostId":"1115241947","repostType":4,"repost":{"id":"1115241947","kind":"news","pubTimestamp":1642376164,"share":"https://www.laohu8.com/m/news/1115241947?lang=zh_CN&edition=full","pubTime":"2022-01-17 07:36","market":"us","language":"en","title":"Day Traders as ‘Dumb Money’? The Pros Are Now Paying Attention<blockquote>日内交易者是“笨钱”？专业人士现在正在关注</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115241947","media":"The Wall Street Journal","summary":"Last year, amateur investors took financial markets by storm. This year, Wall Street professionals a","content":"<p><html><head></head><body>Last year, amateur investors took financial markets by storm. This year, Wall Street professionals are watching them closely.</p><p><blockquote><html><head></head><body>去年，业余投资者席卷了金融市场。今年，华尔街的专业人士正在密切关注他们。</body></html></blockquote></p><p>Fund managers who might have once derided small-time day traders as “dumb money” are scouring social-media posts for clues about where the herd might veer next. Some 85% of hedge funds and 42% of asset managers are now tracking retail-trading message boards, according to a survey by Bloomberg Intelligence.</p><p><blockquote>曾经嘲笑小规模日内交易者为“愚蠢的钱”的基金经理正在社交媒体帖子中寻找有关这群人下一步可能转向何处的线索。彭博资讯(Bloomberg Intelligence)的一项调查显示，约85%的对冲基金和42%的资产管理公司目前正在跟踪零售交易留言板。</blockquote></p><p>JPMorgan Chase &amp; Co. in September introduced a new data product that includes information on which securities individual investors are likely buying and selling, as well as which sectors and stocks are being talked about on social media. About 50 clients, including some of the largest asset and quant managers, are testing the product, the bank says. JPMorgan equity traders are also using it to help manage their own risk.</p><p><blockquote>摩根大通公司(JPMorgan Chase&amp;Co.)在9月份推出了一种新的数据产品，其中包括个人投资者可能买卖哪些证券，以及社交媒体上正在谈论哪些行业和股票的信息。该银行表示，大约50名客户正在测试该产品，其中包括一些最大的资产和量化管理公司。摩根大通股票交易员也用它来帮助管理自己的风险。</blockquote></p><p>“The flow from retail is not something you can ignore if you are a professional investor,” says Chris Berthe, JPMorgan’s global co-head of cash equities trading. “It’s a whole new investor class that has emerged, and it’s an investor class that’s actually getting themes right.”</p><p><blockquote>摩根大通现金股票交易全球联席主管克里斯·贝尔特(Chris Berthe)表示：“如果你是专业投资者，你就不能忽视来自散户的资金。”“这是一个全新的投资者类别，而且是一个实际上抓住了正确主题的投资者类别。”</blockquote></p><p>The shift illustrates just how much the rookies have changed the investing landscape. A year ago, market observers were questioning if the retail revolution would continue. Now many are asking what it will look like this year.</p><p><blockquote>这种转变说明了新秀们对投资格局的改变有多大。一年前，市场观察人士质疑零售革命是否会继续。现在许多人都在问今年会是什么样子。</blockquote></p><p>After shying away from active investing for much of the past decade, millions of Americans, hunkered down at home because of Covid-19, became day traders in 2020. Enticed by volatile markets and phone apps that made it free to trade stocks, they flocked to social media for investing ideas. That year, they piled into stocks like Hertz Global Holdings Inc. (and ultimately were rewarded when the car-rental company exited bankruptcy). It is estimated that more than 10 million individual investors opened new brokerage accounts in 2020, according to Devin Ryan, director of financial-technology research at JMP Securities.</p><p><blockquote>在过去十年的大部分时间里回避积极投资之后，数百万美国人因Covid-19而宅在家中，在2020年成为了日内交易者。受动荡的市场和免费股票交易的手机应用程序的诱惑，他们涌向社交媒体寻求投资想法。那一年，他们大量买入赫兹全球控股公司等股票（最终在这家汽车租赁公司退出破产时获得了回报）。JMP证券金融科技研究总监Devin Ryan表示，预计2020年有超过1000万个人投资者开设了新的经纪账户。</blockquote></p><p><b>Avoiding Crowds</b></p><p><blockquote><b>避开人群</b></blockquote></p><p>The total number of stocks with at least $10 million in short interest rose last year, but the number of the most heavily shorted stocks declined.</p><p><blockquote>去年拥有至少1000万美元空头利息的股票总数有所上升，但被做空最严重的股票数量有所下降。</blockquote></p><p>Last year the trends from 2020 accelerated. JMP Securities estimates that a further 15 million Americans signed up for brokerage accounts in 2021. Social-media forums became increasingly used for trading. Some individual investors used their growing numbers to send stocks including GameStop Corp. and AMC Entertainment Holdings Inc. flying. Many newbies relished in inflicting steep losses on some hedge funds and demonstrating that traditional playbooks aren’t the only way to win.</p><p><blockquote>去年，2020年的趋势加速。JMP证券估计，2021年将有1500万美国人注册经纪账户。社交媒体论坛越来越多地被用于交易。一些个人投资者利用他们不断增长的数量推动游戏驿站公司和AMC院线控股公司等股票飙升。许多新手喜欢给一些对冲基金造成巨大损失，并证明传统的剧本并不是获胜的唯一途径。</blockquote></p><p>Investments that made little sense on paper became valuable in 2021 because day traders declared them so. Joke cryptocurrencies such as dogecoin—up more than 1,900% in the past year based on late Friday levels—minted self-proclaimed millionaires. A market for nonfungible tokens (NFTs), or digital images of items such as bored-ape avatars, exploded.</p><p><blockquote>纸面上毫无意义的投资在2021年变得有价值，因为日内交易者宣称它们是有价值的。像狗狗币这样的笑话加密货币——根据周五晚些时候的水平，过去一年上涨了1900%以上——造就了自称的百万富翁。不可伪造代币（NFT）或无聊猿头像等物品的数字图像市场爆炸式增长。</blockquote></p><p>JPMorgan estimates that individual investors accounted for more than a third of daily trading activity several times over the past 18 months, reaching nearly 40% of shares traded on peak days.</p><p><blockquote>摩根大通估计，在过去18个月中，个人投资者多次占据每日交易活动的三分之一以上，在高峰日交易的股票中达到近40%。</blockquote></p><p>To be sure, many of the newbies lost money. Some took on debt without understanding what they were doing, leaving them vulnerable to steep losses when stock prices fell. Riskier investing strategies, including options trading, exploded. Many amateur investors bought into buzzy shares near the top of rallies, only to watch the prices rapidly plummet.</p><p><blockquote>可以肯定的是，许多新手都赔了钱。一些人在不了解自己在做什么的情况下承担了债务，这使得他们在股价下跌时很容易遭受巨大损失。包括期权交易在内的风险较高的投资策略激增。许多业余投资者在接近反弹顶部时买入热门股票，却眼睁睁地看着价格迅速暴跌。</blockquote></p><p>Individual traders in 2021 purchased a net $292 billion of U.S. stocks and exchange-traded funds, according to Vanda Research’s VandaTrack platform, which tracks and sells data on the purchases of U.S. equities by individual investors. That is more than seven times the amount in 2019. Individual investors so far appear poised to continue similar levels of buying activity in 2022.</p><p><blockquote>根据Vanda Research的VandaTrack平台的数据，2021年个人交易者净购买了2920亿美元的美国股票和交易所交易基金，该平台跟踪和销售个人投资者购买美国股票的数据。这是2019年的七倍多。到目前为止，个人投资者似乎准备在2022年继续类似水平的购买活动。</blockquote></p><p>Analysts expect a bumpier road ahead for U.S. stocks this year, and some money managers believe that any prolonged volatility could wash individual investors out of the market. Many say that today’s activity resembles the late 1990s, when individual investors piled into trading only to flee when the dot-com bubble burst.</p><p><blockquote>分析师预计，今年美国股市的前路将更加坎坷，一些基金经理认为，任何长期的波动都可能将个人投资者挤出市场。许多人说，今天的活动类似于20世纪90年代末，当时个人投资者涌入交易，却在互联网泡沫破裂时逃离。</blockquote></p><p>So far, individual investors have shown a strong stomach for bumpy days. Last year, the group’s eight largest buying days by dollar volume occurred when the S&amp;P 500 sank 1.3% or more, VandaTrack data show. Several academic papers have found that individual investors have at times helped stabilize markets, providing liquidity in times of volatility.</p><p><blockquote>到目前为止，个人投资者对坎坷的日子表现出了强烈的胃口。VandaTrack数据显示，去年，该集团美元交易量最大的八个买入日发生在标普500下跌1.3%或更多的时候。一些学术论文发现，个人投资者有时有助于稳定市场，在波动时期提供流动性。</blockquote></p><p><b>The big names notice</b></p><p><blockquote><b>大牌通知</b></blockquote></p><p>By some accounts, the newbie investors have already altered some professional investors’ trading strategies. One way in particular: the way some make bearish bets.</p><p><blockquote>根据一些说法，新手投资者已经改变了一些专业投资者的交易策略。特别是一种方式：一些人进行看跌押注的方式。</blockquote></p><p></p><p>Meme stocks like GameStop had high levels of short interest before they caught the attention of Reddit traders. That means that other investors—usually professionals, like hedge funds—were betting those stocks would fall. When shorting a stock, an investor borrows shares of a company and sells them, hoping to buy them back later at a lower price.</p><p><blockquote>像游戏驿站这样的模因股票在引起Reddit交易员的注意之前就有很高的空头兴趣。这意味着其他投资者——通常是对冲基金等专业人士——押注这些股票将会下跌。做空股票时，投资者借入一家公司的股票并出售，希望以后以更低的价格回购。</blockquote></p><p>When the amateurs sent GameStop and other stocks soaring, the short sellers were sometimes forced to buy back shares, often at much higher prices.</p><p><blockquote>当业余爱好者推动游戏驿站和其他股票飙升时，卖空者有时被迫回购股票，通常价格要高得多。</blockquote></p><p>These days, investors are avoiding taking big chances with their short-selling plays, according to an analysis by Ihor Dusaniwsky. He is head of predictive analytics at S3 Partners, a technology and data analytics firm that closely tracks activity by short sellers.</p><p><blockquote>伊霍尔·杜萨尼夫斯基(Ihor Dusaniwsky)的分析显示，如今，投资者正在避免在卖空交易中冒太大的风险。他是S3 Partners的预测分析主管，这是一家技术和数据分析公司，密切跟踪卖空者的活动。</blockquote></p><p>Just seven stocks in the U.S. market had short interest of 40% or more at the end of 2021, according to his analysis of stocks where at least $10 million of shares had been sold short. That was down from 40 stocks at the beginning of January 2020 and 19 stocks in January 2021. And unlike the previous periods, no stocks in his analysis had short interest of 70% or more at the end of 2021.</p><p><blockquote>根据他对至少有1000万美元股票被卖空的股票的分析，截至2021年底，美国市场上只有7只股票的空头兴趣达到或超过40%。这低于2020年1月初的40只股票和2021年1月的19只股票。与前几个时期不同的是，在他的分析中，没有一只股票在2021年底拥有70%或以上的空头利息。</blockquote></p><p>Last year, S3 started offering new tools that tell clients which stocks have crowded levels of short interest and which could leave them vulnerable to sudden losses if individual investors pile in.</p><p><blockquote>去年，S3开始提供新工具，告诉客户哪些股票的空头兴趣水平很高，如果个人投资者蜂拥而至，哪些股票可能会让他们容易遭受突然损失。</blockquote></p><p>“In the back of every hedge fund’s mind is, ‘I don’t want to be on the wrong side of a meme-stock play,’ ” Mr. Dusaniwsky says. “It’s a full-time job to make sure you don’t get hit by a bus.”</p><p><blockquote>“每个对冲基金的内心深处都是，‘我不想在模因股票游戏中站在错误的一边，’”杜萨尼夫斯基先生说。“这是一份全职工作，确保你不会被公交车撞到。”</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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>Day Traders as ‘Dumb Money’? The Pros Are Now Paying Attention<blockquote>日内交易者是“笨钱”？专业人士现在正在关注</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\">\nDay Traders as ‘Dumb Money’? The Pros Are Now Paying Attention<blockquote>日内交易者是“笨钱”？专业人士现在正在关注</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2022-01-17 07:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Last year, amateur investors took financial markets by storm. This year, Wall Street professionals are watching them closely.</p><p><blockquote><html><head></head><body>去年，业余投资者席卷了金融市场。今年，华尔街的专业人士正在密切关注他们。</body></html></blockquote></p><p>Fund managers who might have once derided small-time day traders as “dumb money” are scouring social-media posts for clues about where the herd might veer next. Some 85% of hedge funds and 42% of asset managers are now tracking retail-trading message boards, according to a survey by Bloomberg Intelligence.</p><p><blockquote>曾经嘲笑小规模日内交易者为“愚蠢的钱”的基金经理正在社交媒体帖子中寻找有关这群人下一步可能转向何处的线索。彭博资讯(Bloomberg Intelligence)的一项调查显示，约85%的对冲基金和42%的资产管理公司目前正在跟踪零售交易留言板。</blockquote></p><p>JPMorgan Chase &amp; Co. in September introduced a new data product that includes information on which securities individual investors are likely buying and selling, as well as which sectors and stocks are being talked about on social media. About 50 clients, including some of the largest asset and quant managers, are testing the product, the bank says. JPMorgan equity traders are also using it to help manage their own risk.</p><p><blockquote>摩根大通公司(JPMorgan Chase&amp;Co.)在9月份推出了一种新的数据产品，其中包括个人投资者可能买卖哪些证券，以及社交媒体上正在谈论哪些行业和股票的信息。该银行表示，大约50名客户正在测试该产品，其中包括一些最大的资产和量化管理公司。摩根大通股票交易员也用它来帮助管理自己的风险。</blockquote></p><p>“The flow from retail is not something you can ignore if you are a professional investor,” says Chris Berthe, JPMorgan’s global co-head of cash equities trading. “It’s a whole new investor class that has emerged, and it’s an investor class that’s actually getting themes right.”</p><p><blockquote>摩根大通现金股票交易全球联席主管克里斯·贝尔特(Chris Berthe)表示：“如果你是专业投资者，你就不能忽视来自散户的资金。”“这是一个全新的投资者类别，而且是一个实际上抓住了正确主题的投资者类别。”</blockquote></p><p>The shift illustrates just how much the rookies have changed the investing landscape. A year ago, market observers were questioning if the retail revolution would continue. Now many are asking what it will look like this year.</p><p><blockquote>这种转变说明了新秀们对投资格局的改变有多大。一年前，市场观察人士质疑零售革命是否会继续。现在许多人都在问今年会是什么样子。</blockquote></p><p>After shying away from active investing for much of the past decade, millions of Americans, hunkered down at home because of Covid-19, became day traders in 2020. Enticed by volatile markets and phone apps that made it free to trade stocks, they flocked to social media for investing ideas. That year, they piled into stocks like Hertz Global Holdings Inc. (and ultimately were rewarded when the car-rental company exited bankruptcy). It is estimated that more than 10 million individual investors opened new brokerage accounts in 2020, according to Devin Ryan, director of financial-technology research at JMP Securities.</p><p><blockquote>在过去十年的大部分时间里回避积极投资之后，数百万美国人因Covid-19而宅在家中，在2020年成为了日内交易者。受动荡的市场和免费股票交易的手机应用程序的诱惑，他们涌向社交媒体寻求投资想法。那一年，他们大量买入赫兹全球控股公司等股票（最终在这家汽车租赁公司退出破产时获得了回报）。JMP证券金融科技研究总监Devin Ryan表示，预计2020年有超过1000万个人投资者开设了新的经纪账户。</blockquote></p><p><b>Avoiding Crowds</b></p><p><blockquote><b>避开人群</b></blockquote></p><p>The total number of stocks with at least $10 million in short interest rose last year, but the number of the most heavily shorted stocks declined.</p><p><blockquote>去年拥有至少1000万美元空头利息的股票总数有所上升，但被做空最严重的股票数量有所下降。</blockquote></p><p>Last year the trends from 2020 accelerated. JMP Securities estimates that a further 15 million Americans signed up for brokerage accounts in 2021. Social-media forums became increasingly used for trading. Some individual investors used their growing numbers to send stocks including GameStop Corp. and AMC Entertainment Holdings Inc. flying. Many newbies relished in inflicting steep losses on some hedge funds and demonstrating that traditional playbooks aren’t the only way to win.</p><p><blockquote>去年，2020年的趋势加速。JMP证券估计，2021年将有1500万美国人注册经纪账户。社交媒体论坛越来越多地被用于交易。一些个人投资者利用他们不断增长的数量推动游戏驿站公司和AMC院线控股公司等股票飙升。许多新手喜欢给一些对冲基金造成巨大损失，并证明传统的剧本并不是获胜的唯一途径。</blockquote></p><p>Investments that made little sense on paper became valuable in 2021 because day traders declared them so. Joke cryptocurrencies such as dogecoin—up more than 1,900% in the past year based on late Friday levels—minted self-proclaimed millionaires. A market for nonfungible tokens (NFTs), or digital images of items such as bored-ape avatars, exploded.</p><p><blockquote>纸面上毫无意义的投资在2021年变得有价值，因为日内交易者宣称它们是有价值的。像狗狗币这样的笑话加密货币——根据周五晚些时候的水平，过去一年上涨了1900%以上——造就了自称的百万富翁。不可伪造代币（NFT）或无聊猿头像等物品的数字图像市场爆炸式增长。</blockquote></p><p>JPMorgan estimates that individual investors accounted for more than a third of daily trading activity several times over the past 18 months, reaching nearly 40% of shares traded on peak days.</p><p><blockquote>摩根大通估计，在过去18个月中，个人投资者多次占据每日交易活动的三分之一以上，在高峰日交易的股票中达到近40%。</blockquote></p><p>To be sure, many of the newbies lost money. Some took on debt without understanding what they were doing, leaving them vulnerable to steep losses when stock prices fell. Riskier investing strategies, including options trading, exploded. Many amateur investors bought into buzzy shares near the top of rallies, only to watch the prices rapidly plummet.</p><p><blockquote>可以肯定的是，许多新手都赔了钱。一些人在不了解自己在做什么的情况下承担了债务，这使得他们在股价下跌时很容易遭受巨大损失。包括期权交易在内的风险较高的投资策略激增。许多业余投资者在接近反弹顶部时买入热门股票，却眼睁睁地看着价格迅速暴跌。</blockquote></p><p>Individual traders in 2021 purchased a net $292 billion of U.S. stocks and exchange-traded funds, according to Vanda Research’s VandaTrack platform, which tracks and sells data on the purchases of U.S. equities by individual investors. That is more than seven times the amount in 2019. Individual investors so far appear poised to continue similar levels of buying activity in 2022.</p><p><blockquote>根据Vanda Research的VandaTrack平台的数据，2021年个人交易者净购买了2920亿美元的美国股票和交易所交易基金，该平台跟踪和销售个人投资者购买美国股票的数据。这是2019年的七倍多。到目前为止，个人投资者似乎准备在2022年继续类似水平的购买活动。</blockquote></p><p>Analysts expect a bumpier road ahead for U.S. stocks this year, and some money managers believe that any prolonged volatility could wash individual investors out of the market. Many say that today’s activity resembles the late 1990s, when individual investors piled into trading only to flee when the dot-com bubble burst.</p><p><blockquote>分析师预计，今年美国股市的前路将更加坎坷，一些基金经理认为，任何长期的波动都可能将个人投资者挤出市场。许多人说，今天的活动类似于20世纪90年代末，当时个人投资者涌入交易，却在互联网泡沫破裂时逃离。</blockquote></p><p>So far, individual investors have shown a strong stomach for bumpy days. Last year, the group’s eight largest buying days by dollar volume occurred when the S&amp;P 500 sank 1.3% or more, VandaTrack data show. Several academic papers have found that individual investors have at times helped stabilize markets, providing liquidity in times of volatility.</p><p><blockquote>到目前为止，个人投资者对坎坷的日子表现出了强烈的胃口。VandaTrack数据显示，去年，该集团美元交易量最大的八个买入日发生在标普500下跌1.3%或更多的时候。一些学术论文发现，个人投资者有时有助于稳定市场，在波动时期提供流动性。</blockquote></p><p><b>The big names notice</b></p><p><blockquote><b>大牌通知</b></blockquote></p><p>By some accounts, the newbie investors have already altered some professional investors’ trading strategies. One way in particular: the way some make bearish bets.</p><p><blockquote>根据一些说法，新手投资者已经改变了一些专业投资者的交易策略。特别是一种方式：一些人进行看跌押注的方式。</blockquote></p><p></p><p>Meme stocks like GameStop had high levels of short interest before they caught the attention of Reddit traders. That means that other investors—usually professionals, like hedge funds—were betting those stocks would fall. When shorting a stock, an investor borrows shares of a company and sells them, hoping to buy them back later at a lower price.</p><p><blockquote>像游戏驿站这样的模因股票在引起Reddit交易员的注意之前就有很高的空头兴趣。这意味着其他投资者——通常是对冲基金等专业人士——押注这些股票将会下跌。做空股票时，投资者借入一家公司的股票并出售，希望以后以更低的价格回购。</blockquote></p><p>When the amateurs sent GameStop and other stocks soaring, the short sellers were sometimes forced to buy back shares, often at much higher prices.</p><p><blockquote>当业余爱好者推动游戏驿站和其他股票飙升时，卖空者有时被迫回购股票，通常价格要高得多。</blockquote></p><p>These days, investors are avoiding taking big chances with their short-selling plays, according to an analysis by Ihor Dusaniwsky. He is head of predictive analytics at S3 Partners, a technology and data analytics firm that closely tracks activity by short sellers.</p><p><blockquote>伊霍尔·杜萨尼夫斯基(Ihor Dusaniwsky)的分析显示，如今，投资者正在避免在卖空交易中冒太大的风险。他是S3 Partners的预测分析主管，这是一家技术和数据分析公司，密切跟踪卖空者的活动。</blockquote></p><p>Just seven stocks in the U.S. market had short interest of 40% or more at the end of 2021, according to his analysis of stocks where at least $10 million of shares had been sold short. That was down from 40 stocks at the beginning of January 2020 and 19 stocks in January 2021. And unlike the previous periods, no stocks in his analysis had short interest of 70% or more at the end of 2021.</p><p><blockquote>根据他对至少有1000万美元股票被卖空的股票的分析，截至2021年底，美国市场上只有7只股票的空头兴趣达到或超过40%。这低于2020年1月初的40只股票和2021年1月的19只股票。与前几个时期不同的是，在他的分析中，没有一只股票在2021年底拥有70%或以上的空头利息。</blockquote></p><p>Last year, S3 started offering new tools that tell clients which stocks have crowded levels of short interest and which could leave them vulnerable to sudden losses if individual investors pile in.</p><p><blockquote>去年，S3开始提供新工具，告诉客户哪些股票的空头兴趣水平很高，如果个人投资者蜂拥而至，哪些股票可能会让他们容易遭受突然损失。</blockquote></p><p>“In the back of every hedge fund’s mind is, ‘I don’t want to be on the wrong side of a meme-stock play,’ ” Mr. Dusaniwsky says. “It’s a full-time job to make sure you don’t get hit by a bus.”</p><p><blockquote>“每个对冲基金的内心深处都是，‘我不想在模因股票游戏中站在错误的一边，’”杜萨尼夫斯基先生说。“这是一份全职工作，确保你不会被公交车撞到。”</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/fund-managers-pay-attention-to-retail-day-traders-11642132135?mod=hp_lead_pos7\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","GME":"游戏驿站"},"source_url":"https://www.wsj.com/articles/fund-managers-pay-attention-to-retail-day-traders-11642132135?mod=hp_lead_pos7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115241947","content_text":"Last year, amateur investors took financial markets by storm. This year, Wall Street professionals are watching them closely.Fund managers who might have once derided small-time day traders as “dumb money” are scouring social-media posts for clues about where the herd might veer next. Some 85% of hedge funds and 42% of asset managers are now tracking retail-trading message boards, according to a survey by Bloomberg Intelligence.JPMorgan Chase & Co. in September introduced a new data product that includes information on which securities individual investors are likely buying and selling, as well as which sectors and stocks are being talked about on social media. About 50 clients, including some of the largest asset and quant managers, are testing the product, the bank says. JPMorgan equity traders are also using it to help manage their own risk.“The flow from retail is not something you can ignore if you are a professional investor,” says Chris Berthe, JPMorgan’s global co-head of cash equities trading. “It’s a whole new investor class that has emerged, and it’s an investor class that’s actually getting themes right.”The shift illustrates just how much the rookies have changed the investing landscape. A year ago, market observers were questioning if the retail revolution would continue. Now many are asking what it will look like this year.After shying away from active investing for much of the past decade, millions of Americans, hunkered down at home because of Covid-19, became day traders in 2020. Enticed by volatile markets and phone apps that made it free to trade stocks, they flocked to social media for investing ideas. That year, they piled into stocks like Hertz Global Holdings Inc. (and ultimately were rewarded when the car-rental company exited bankruptcy). It is estimated that more than 10 million individual investors opened new brokerage accounts in 2020, according to Devin Ryan, director of financial-technology research at JMP Securities.Avoiding CrowdsThe total number of stocks with at least $10 million in short interest rose last year, but the number of the most heavily shorted stocks declined.Last year the trends from 2020 accelerated. JMP Securities estimates that a further 15 million Americans signed up for brokerage accounts in 2021. Social-media forums became increasingly used for trading. Some individual investors used their growing numbers to send stocks including GameStop Corp. and AMC Entertainment Holdings Inc. flying. Many newbies relished in inflicting steep losses on some hedge funds and demonstrating that traditional playbooks aren’t the only way to win.Investments that made little sense on paper became valuable in 2021 because day traders declared them so. Joke cryptocurrencies such as dogecoin—up more than 1,900% in the past year based on late Friday levels—minted self-proclaimed millionaires. A market for nonfungible tokens (NFTs), or digital images of items such as bored-ape avatars, exploded.JPMorgan estimates that individual investors accounted for more than a third of daily trading activity several times over the past 18 months, reaching nearly 40% of shares traded on peak days.To be sure, many of the newbies lost money. Some took on debt without understanding what they were doing, leaving them vulnerable to steep losses when stock prices fell. Riskier investing strategies, including options trading, exploded. Many amateur investors bought into buzzy shares near the top of rallies, only to watch the prices rapidly plummet.Individual traders in 2021 purchased a net $292 billion of U.S. stocks and exchange-traded funds, according to Vanda Research’s VandaTrack platform, which tracks and sells data on the purchases of U.S. equities by individual investors. That is more than seven times the amount in 2019. Individual investors so far appear poised to continue similar levels of buying activity in 2022.Analysts expect a bumpier road ahead for U.S. stocks this year, and some money managers believe that any prolonged volatility could wash individual investors out of the market. Many say that today’s activity resembles the late 1990s, when individual investors piled into trading only to flee when the dot-com bubble burst.So far, individual investors have shown a strong stomach for bumpy days. Last year, the group’s eight largest buying days by dollar volume occurred when the S&P 500 sank 1.3% or more, VandaTrack data show. Several academic papers have found that individual investors have at times helped stabilize markets, providing liquidity in times of volatility.The big names noticeBy some accounts, the newbie investors have already altered some professional investors’ trading strategies. One way in particular: the way some make bearish bets.Meme stocks like GameStop had high levels of short interest before they caught the attention of Reddit traders. That means that other investors—usually professionals, like hedge funds—were betting those stocks would fall. When shorting a stock, an investor borrows shares of a company and sells them, hoping to buy them back later at a lower price.When the amateurs sent GameStop and other stocks soaring, the short sellers were sometimes forced to buy back shares, often at much higher prices.These days, investors are avoiding taking big chances with their short-selling plays, according to an analysis by Ihor Dusaniwsky. He is head of predictive analytics at S3 Partners, a technology and data analytics firm that closely tracks activity by short sellers.Just seven stocks in the U.S. market had short interest of 40% or more at the end of 2021, according to his analysis of stocks where at least $10 million of shares had been sold short. That was down from 40 stocks at the beginning of January 2020 and 19 stocks in January 2021. And unlike the previous periods, no stocks in his analysis had short interest of 70% or more at the end of 2021.Last year, S3 started offering new tools that tell clients which stocks have crowded levels of short interest and which could leave them vulnerable to sudden losses if individual investors pile in.“In the back of every hedge fund’s mind is, ‘I don’t want to be on the wrong side of a meme-stock play,’ ” Mr. Dusaniwsky says. “It’s a full-time job to make sure you don’t get hit by a bus.”","news_type":1,"symbols_score_info":{".IXIC":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":2524,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697375863,"gmtCreate":1642325015098,"gmtModify":1642325015213,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/697375863","repostId":"2203201745","repostType":4,"isVote":1,"tweetType":1,"viewCount":3365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697955201,"gmtCreate":1642234362908,"gmtModify":1642234363026,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Why my post can't be seen?&nbsp;","listText":"Why my post can't be seen?&nbsp;","text":"Why my post can't be seen?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/697955201","repostId":"2203714737","repostType":4,"isVote":1,"tweetType":1,"viewCount":2433,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697955649,"gmtCreate":1642234334185,"gmtModify":1642234334338,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Weird","listText":"Weird","text":"Weird","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/697955649","repostId":"1167122618","repostType":4,"repost":{"id":"1167122618","kind":"news","pubTimestamp":1642212214,"share":"https://www.laohu8.com/m/news/1167122618?lang=zh_CN&edition=full","pubTime":"2022-01-15 10:03","market":"us","language":"en","title":"Morgan Stanley Promotes Biggest Class of Managing Directors Since 2012<blockquote>摩根士丹利提拔2012年以来最大规模的董事总经理</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1167122618","media":"Seeking Alpha","summary":"While efforts to hire and retain workers pick up across Wall Street, Morgan Stanley(NYSE:MS)names 19","content":"<p><html><head></head><body><ul><li>While efforts to hire and retain workers pick up across Wall Street, Morgan Stanley(NYSE:MS)names 199 employees as new managing directors, a person with knowledge on the matter told Bloomberg.</li><li>This is up from 171 last year and 130 in 2020, Bloomberg reports. The U.S. region counts for 64% of the promotions, with 23% in Europe, the Middle East and Africa, and 14% in Asia.</li><li>A third of the new managing directors are women, the person told Bloomberg. This means 23% of the bank&#39;s managing directors are female, a new record, Bloomberg notes.</li><li>Recall Goldman Sachs(NYSE:GS)recently said it plans to boost hiring in Latin America after a record year.</li><li>Previously, (Jan. 4, 2021) Morgan Stanley inked a lease for BlackRock&#39;sheadquarters in New York City.</li></ul></body></html></p><p><blockquote><html><head></head><body><ul><li>一位知情人士告诉彭博社，尽管华尔街招聘和留住员工的努力有所加强，但摩根士丹利(NYSE：MS)任命199名员工为新董事总经理。</li><li>据彭博社报道，这一数字高于去年的171人和2020年的130人。美国地区占促销活动的64%，欧洲、中东和非洲占23%，亚洲占14%。</li><li>该人士告诉彭博社，三分之一的新任董事总经理是女性。彭博社指出，这意味着该银行23%的董事总经理是女性，创下新纪录。</li><li>回想一下高盛（纽约证券交易所股票代码：GS）最近表示，在创纪录的一年后，它计划增加在拉丁美洲的招聘。</li><li>此前，（2021年1月4日）摩根士丹利签署了贝莱德纽约总部的租约。</li></ul></body></html></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>Morgan Stanley Promotes Biggest Class of Managing Directors Since 2012<blockquote>摩根士丹利提拔2012年以来最大规模的董事总经理</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\">\nMorgan Stanley Promotes Biggest Class of Managing Directors Since 2012<blockquote>摩根士丹利提拔2012年以来最大规模的董事总经理</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2022-01-15 10:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><ul><li>While efforts to hire and retain workers pick up across Wall Street, Morgan Stanley(NYSE:MS)names 199 employees as new managing directors, a person with knowledge on the matter told Bloomberg.</li><li>This is up from 171 last year and 130 in 2020, Bloomberg reports. The U.S. region counts for 64% of the promotions, with 23% in Europe, the Middle East and Africa, and 14% in Asia.</li><li>A third of the new managing directors are women, the person told Bloomberg. This means 23% of the bank&#39;s managing directors are female, a new record, Bloomberg notes.</li><li>Recall Goldman Sachs(NYSE:GS)recently said it plans to boost hiring in Latin America after a record year.</li><li>Previously, (Jan. 4, 2021) Morgan Stanley inked a lease for BlackRock&#39;sheadquarters in New York City.</li></ul></body></html></p><p><blockquote><html><head></head><body><ul><li>一位知情人士告诉彭博社，尽管华尔街招聘和留住员工的努力有所加强，但摩根士丹利(NYSE：MS)任命199名员工为新董事总经理。</li><li>据彭博社报道，这一数字高于去年的171人和2020年的130人。美国地区占促销活动的64%，欧洲、中东和非洲占23%，亚洲占14%。</li><li>该人士告诉彭博社，三分之一的新任董事总经理是女性。彭博社指出，这意味着该银行23%的董事总经理是女性，创下新纪录。</li><li>回想一下高盛（纽约证券交易所股票代码：GS）最近表示，在创纪录的一年后，它计划增加在拉丁美洲的招聘。</li><li>此前，（2021年1月4日）摩根士丹利签署了贝莱德纽约总部的租约。</li></ul></body></html></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3788415-morgan-stanley-promotes-most-staff-to-managing-directors-since-2012-bloomberg\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MS":"摩根士丹利"},"source_url":"https://seekingalpha.com/news/3788415-morgan-stanley-promotes-most-staff-to-managing-directors-since-2012-bloomberg","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167122618","content_text":"While efforts to hire and retain workers pick up across Wall Street, Morgan Stanley(NYSE:MS)names 199 employees as new managing directors, a person with knowledge on the matter told Bloomberg.This is up from 171 last year and 130 in 2020, Bloomberg reports. The U.S. region counts for 64% of the promotions, with 23% in Europe, the Middle East and Africa, and 14% in Asia.A third of the new managing directors are women, the person told Bloomberg. This means 23% of the bank's managing directors are female, a new record, Bloomberg notes.Recall Goldman Sachs(NYSE:GS)recently said it plans to boost hiring in Latin America after a record year.Previously, (Jan. 4, 2021) Morgan Stanley inked a lease for BlackRock'sheadquarters in New York City.","news_type":1,"symbols_score_info":{"MS":0.9}},"isVote":1,"tweetType":1,"viewCount":3027,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":697951782,"gmtCreate":1642231104197,"gmtModify":1642231104330,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Haha","listText":"Haha","text":"Haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/697951782","repostId":"2203753556","repostType":2,"repost":{"id":"2203753556","kind":"highlight","weMediaInfo":{"introduction":"凤凰网港股","home_visible":1,"media_name":"凤凰网港股","id":"1039806269","head_image":"https://static.tigerbbs.com/b6fb647077f1ce46dc341fc35c26e817"},"pubTimestamp":1642037590,"share":"https://www.laohu8.com/m/news/2203753556?lang=zh_CN&edition=full","pubTime":"2022-01-13 09:33","market":"hk","language":"zh","title":"*麦格理首予小鹏汽车－Ｗ(09868)跑赢大市评级 目标价221港元","url":"https://stock-news.laohu8.com/highlight/detail?id=2203753556","media":"凤凰网港股","summary":"凤凰网港股|麦格理首予小鹏汽车(09868)跑赢大市评级，目标价221港元。","content":"<html><body><p>凤凰网港股|麦格理首予<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>(09868)跑赢大市评级，目标价221港元。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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>*麦格理首予小鹏汽车－Ｗ(09868)跑赢大市评级 目标价221港元</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n*麦格理首予小鹏汽车－Ｗ(09868)跑赢大市评级 目标价221港元\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039806269\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/b6fb647077f1ce46dc341fc35c26e817);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">凤凰网港股 </p>\n<p class=\"h-time\">2022-01-13 09:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>凤凰网港股|麦格理首予<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>(09868)跑赢大市评级，目标价221港元。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/de0bbe341ac5d74e1a8d74c9ca5de715","relate_stocks":{"09868":"小鹏汽车-W","XPEV":"小鹏汽车"},"source_url":"http://hknews.szfuit.com/newRssInfo/feed?original_id=c9ce76babadd5ef7b0fa98b9485ad92f","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2203753556","content_text":"凤凰网港股|麦格理首予小鹏汽车(09868)跑赢大市评级，目标价221港元。","news_type":1,"symbols_score_info":{"09868":1,"XPEV":1}},"isVote":1,"tweetType":1,"viewCount":2643,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696161982,"gmtCreate":1640651208646,"gmtModify":1640651208831,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696161982","repostId":"1127544468","repostType":4,"isVote":1,"tweetType":1,"viewCount":2946,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696079882,"gmtCreate":1640585851388,"gmtModify":1640585851541,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696079882","repostId":"2194177239","repostType":4,"repost":{"id":"2194177239","kind":"news","pubTimestamp":1640559609,"share":"https://www.laohu8.com/m/news/2194177239?lang=zh_CN&edition=full","pubTime":"2021-12-27 07:00","market":"us","language":"en","title":"Santa Claus Rally watch: What to know this week<blockquote>圣诞老人集会观察：本周需要了解什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2194177239","media":"Yahoo Finance","summary":"As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for the coming days.The S&P 500  is entering the period known for ushering in the so-called Santa Claus Rally, or seasonally strong timeframe for stocks at the end of each year.According to data from LPL Financial, the Santa Claus Rally period encapsulates the seven days most likely to be higher in any ","content":"<p><div> As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for ...</p><p><blockquote><div>随着交易员从假期缩短的一周中回归，进入新的一年的价格走势将受到密切关注——特别是考虑到相对清淡的经济数据和收益日历...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页连接</a></blockquote></p><p></p>","source":"yahoofinance_au","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>Santa Claus Rally watch: What to know this week<blockquote>圣诞老人集会观察：本周需要了解什么</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\">\nSanta Claus Rally watch: What to know this week<blockquote>圣诞老人集会观察：本周需要了解什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-12-27 07:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for ...</p><p><blockquote><div>随着交易员从假期缩短的一周中回归，进入新的一年的价格走势将受到密切关注——特别是考虑到相对清淡的经济数据和收益日历...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html\">Yahoo Finance</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":{"BK4541":"氢能源","SPY.AU":"SPDR® S&P 500® ETF Trust","BK4096":"电气部件与设备","FCEL":"燃料电池能源"},"source_url":"https://finance.yahoo.com/news/santa-claus-rally-watch-what-to-know-this-week-142909627.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2194177239","content_text":"As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for the coming days.\nThe S&P 500 (^GSPC) is entering the period known for ushering in the so-called Santa Claus Rally, or seasonally strong timeframe for stocks at the end of each year.\nThe term, coined by Stock Trader's Almanac in the 1970s, encompasses the final five trading days of the year and first two sessions of the new year. This year, that Santa Claus Rally window is set to start on Monday, Dec. 27 — or the latest a Santa Claus rally has started in 11 years, due to the timing of the holidays this year.\nAccording to data from LPL Financial, the Santa Claus Rally period encapsulates the seven days most likely to be higher in any given year. Since 1950, the Santa Claus Rally period has produced a positive return for the S&P 500 78.9% of the time, with an average return of 1.33%.\n“Why are these seven days so strong?” wrote Ryan Detrick, LPL Financial chief market strategist, in a note. “Whether optimism over a coming new year, holiday spending, traders on vacation, institutions squaring up their books — or the holiday spirit — the bottom line is that bulls tend to believe in Santa.”\nAnd if history is any indication, the absence of a Santa Claus Rally has also typically served as a harbinger of lower near-term returns.\n\"Going back to the mid-1990s, there have been only six times Santa failed to show in December. January was lower five of those six times, and the full year had a solid gain only once (in 2016, but a mini-bear market early in the year),\" Detrick added.\n“Considering the bear markets of 2000 and 2008 both took place after one of the rare instances that Santa failed to show makes believers out of us,\" he said. A bear market typically refers to when stocks drop at least 20% from recent record highs. \"Should this seasonally strong period miss the mark, it could be a warning sign.\"\nAnd this year, investors do have considerable additional concerns to mull heading into the new year. Though stocks closed out Thursday's session at fresh record highs before the long holiday weekend, December still marked a volatile month to start, with renewed concerns over the Omicron variant and the potential for tighter monetary policy from the Federal Reserve weighing on risk assets. Plus, prospects for more near-term fiscal support via the Biden administration's Build Back Better bill have dwindled, and inflation concerns spiked further. Last week, the Bureau of Economic Analysis reported core personal consumption expenditures (PCE) — the Fed's preferred inflation gauge — rose at a 4.7% year-over-year clip, or the fastest since 1983.\n\"If the U.S. was not battling the Omicron variant, U.S. stocks would be dancing higher as the Santa Claus Rally would have kept the climb going into uncharted territory,\" Edward Moya, chief market strategist at OANDA, wrote in a note last week. \"It is too early to say for sure if we will get a Santa Claus Rally, but given all the short-term risks of Fed tightening, Chinese weakness, fiscal support uncertainty and COVID, Wall Street is not complaining.\"\nA man in a Santa Claus costume gestures on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange on December 5, 2019 in New York. (Photo by Bryan R. Smith / AFP) (Photo by BRYAN R. SMITH/AFP via Getty Images)BRYAN R. SMITH via Getty Images\nEconomic calendar\n\nMonday: Dallas Federal Reserve Manufacturing Activity Index, Dec. (13.0 expected, 11.8 in November)\nTuesday: FHFA House Price Index, month-over-month, October (0.9% in September); S&P CoreLogic Case-Shiller 20 City Composite Index, month-over-month, October (0.9% expected, 0.96% in September); S&P CoreLogic Case-Shiller 20 City Composite Index, year-over-year, October (18.6%. expected, 19.05% in September); S&P CoreLogic Case-Shiller Home Price Index, year-over-year, November (19.51% in October); Richmond Fed Manufacturing Index, December (11 expected,11 in November)\nWednesday: Wholesale Inventories, month-over-month, November preliminary (1.7% expected, 2.3% in October); Advance Goods Trade Balance, November (-$89.0 billion expected, -$82.9 billion in October); Retail Inventories, month-over-month, November (0.5% expected, 0.1% in October); Pending Home Sales, month-over-month, November (0.5% expected, 7.5% in October)\nThursday: Initial jobless claims, week ended Dec. 25. (205,000 during prior week); Continuing claims, week ended Dec. 18 (1.859 million during prior week); MNI Chicago PMI, December (62.2 expected, 61.8 in November)\nFriday: No notable reports scheduled for release\n\nEarnings calendar\n\nMonday: No notable reports scheduled for release\nTuesday: No notable reports scheduled for release\nWednesday: FuelCell Energy Inc. (FCEL) before market open\nThursday: No notable reports scheduled for release\nFriday: No notable reports scheduled for release","news_type":1,"symbols_score_info":{"SPY.AU":0.9,"FCEL":0.9}},"isVote":1,"tweetType":1,"viewCount":2086,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698790584,"gmtCreate":1640526892966,"gmtModify":1640526893104,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698790584","repostId":"2193033173","repostType":4,"isVote":1,"tweetType":1,"viewCount":2655,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698790184,"gmtCreate":1640526815983,"gmtModify":1640526816087,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Yeah","listText":"Yeah","text":"Yeah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698790184","repostId":"2193178197","repostType":4,"isVote":1,"tweetType":1,"viewCount":814,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698112726,"gmtCreate":1640316688078,"gmtModify":1640317458987,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698112726","repostId":"1163369412","repostType":4,"repost":{"id":"1163369412","kind":"news","pubTimestamp":1640315341,"share":"https://www.laohu8.com/m/news/1163369412?lang=zh_CN&edition=full","pubTime":"2021-12-24 11:09","market":"us","language":"en","title":"Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163369412","media":"Nikkei Asia","summary":"Once-secretive automaker now worth almost 100 times its original value\nA Rivian R1T all-electric tru","content":"<p>Once-secretive automaker now worth almost 100 times its original value</p><p><blockquote>曾经神秘的汽车制造商现在的价值几乎是其原始价值的100倍</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b7e054c0ad4260b9074fbdd6c0947731\" tg-width=\"1400\" tg-height=\"788\" width=\"100%\" height=\"auto\"><span>A Rivian R1T all-electric truck in Times Square in New York on Nov. 10, the automaker's first day of trading. © AP</span></p><p><blockquote><p class=\"t-img-caption\"><span>11月10日，一辆Rivian R1T全电动卡车出现在纽约时代广场，这是该汽车制造商的第一天交易。©美联社</span></p></blockquote></p><p> TOKYO -- In the spring of 2017, a Saudi business associate made an intriguing proposal to Yoshito Miyazaki, an executive at Japanese trading house Sumitomo Corp., asking if he would like to invest in an interesting electric vehicle startup together.</p><p><blockquote>东京——2017年春天，一位沙特商业伙伴向日本贸易公司住友商事株式会社（Sumitomo Corp.）的高管宫崎义人（Yoshito Miyazaki）提出了一个有趣的提议，询问他是否愿意共同投资一家有趣的电动汽车初创公司。</blockquote></p><p> The target of the pitch was Rivian Automotive, which at the time was still operating in stealth mode with hardly any information to its name. The CEO of the outfit, R.J. Scaringe, maintained an especially low profile.</p><p><blockquote>此次推介的目标是Rivian汽车公司，该公司当时仍在秘密模式下运营，几乎没有任何有关其名称的信息。该公司的首席执行官R.J斯卡林奇保持着特别低调的姿态。</blockquote></p><p> What a difference four years make. Now Rivian's market capitalization hovers at about $100 billion following its debut on Nasdaq in November. Rivian's value has grown by a magnitude of nearly 100, and Sumitomo was one of the investors that got in on the ground floor.</p><p><blockquote>四年的变化真大。自11月在纳斯达克上市以来，Rivian的市值目前徘徊在1000亿美元左右。Rivian的价值增长了近100倍，住友商事是最早入股的投资者之一。</blockquote></p><p> The business associate, an executive at Saudi conglomerate Abdul Latif Jameel, had been visiting the U.S. when he met with Miyazaki, then the general manager of Sumitomo's Detroit office. Sumitomo and ALJ operate a joint-venture construction equipment distributor in Saudi Arabia, and the two companies were looking for other collaborative opportunities in the U.S.</p><p><blockquote>这位商业伙伴是沙特企业集团阿卜杜勒·拉蒂夫·贾米尔(Abdul Latif Jameel)的高管，当时他正在美国访问，会见了时任住友商事底特律办事处总经理的宫崎骏。住友商事和ALJ在沙特阿拉伯经营一家合资建筑设备分销商，两家公司正在美国寻找其他合作机会。</blockquote></p><p> It was then that Miyazaki heard Scaringe was going to make his first public appearance, at a town meeting hosted by the Original Equipment Suppliers Association at a venue not far from Detroit.</p><p><blockquote>就在那时，宫崎骏听说斯卡林奇将在离底特律不远的地方由原始设备供应商协会主办的城镇会议上首次公开露面。</blockquote></p><p> At the event, Scaringe made a passionate case for developing large EVs, a \"white space\" where competition was scarce. His plan was to roll out a sport utility vehicle and a pickup truck by approximately 2020. Rivian would leverage the new brand image to secure more funding, which would then be used to develop shared EVs and fully autonomous driving technology by 2023.</p><p><blockquote>在活动中，斯卡林奇对开发大型电动汽车提出了热情的理由，这是一个竞争很少的“空白”。他的计划是在2020年左右推出一款运动型多功能车和一款皮卡车。Rivian将利用新的品牌形象获得更多资金，然后在2023年前用于开发共享电动汽车和全自动驾驶技术。</blockquote></p><p> Many EV startups who bill themselves as the next Tesla pour their resources into developing sports cars. However, Scaringe demonstrated he was quick to pick up on shifting consumer tastes while maintaining a focus on next-generation technology.</p><p><blockquote>许多自称是下一个特斯拉的电动汽车初创公司将资源投入到开发跑车上。然而，斯卡林奇证明，他很快就能跟上不断变化的消费者口味，同时保持对下一代技术的关注。</blockquote></p><p> Miyazaki was floored by Scaringe's business model.</p><p><blockquote>宫崎骏被斯卡林奇的商业模式震惊了。</blockquote></p><p> \"Large-sized vehicles have a huge market in the U.S. because of their popularity, and I felt it was very rational since you could equip the vehicles with large-capacity batteries and extend driving ranges,\" said Miyazaki, who now heads Sumitomo's Beyond Mobility department.</p><p><blockquote>“大型车辆在美国拥有巨大的市场，因为它们很受欢迎，我觉得这是非常合理的，因为你可以为车辆配备大容量电池并延长行驶里程，”现任住友超越移动部门负责人的宫崎说。</blockquote></p><p> Miyazaki immediately launched a due diligence review of Rivian with Tatsuo Ishibashi, a subordinate who now heads the Detroit office. The team discovered the startup had taken the unusual step of spending $16 million buying an Illinois plant from Mitsubishi Motors in early 2017.</p><p><blockquote>宫崎骏立即与现任底特律办公室负责人的下属石桥达夫展开了对Rivian的尽职审查。该团队发现，这家初创公司采取了不同寻常的步骤，在2017年初斥资1600万美元从三菱汽车公司购买了伊利诺伊州的一家工厂。</blockquote></p><p> Mitsubishi Motors had originally invested 200 billion yen ($1.75 billion at current rates) in the assembly plant, which also handled engines, presswork and coating. The site has the capacity to turn out 250,000 vehicles a year.</p><p><blockquote>三菱汽车最初在该装配厂投资了2000亿日元（按当前价格计算为17.5亿美元），该装配厂还生产发动机、冲压和涂层。该工厂每年可生产25万辆汽车。</blockquote></p><p> \"This is a company that has a proper footing,\" Ishibashi thought of Rivian.</p><p><blockquote>“这是一家站稳脚跟的公司，”石桥想到了Rivian。</blockquote></p><p> When Miyazaki and Ishibashi began negotiating with Scaringe, they were drawn to his personality. When a Sumitomo executive visited from the Tokyo home office to tour Rivian, Scaringe discussed his business strategy, balancing logic with passion.</p><p><blockquote>当宫崎骏和石桥开始与斯卡林格谈判时，他们被他的个性所吸引。当住友商事的一位高管从东京都总部访问Rivian时，斯卡林奇讨论了他的商业战略，平衡了逻辑和激情。</blockquote></p><p> \"There may be times when a change in course is needed, but I felt we'd certainly arrive at solutions with Mr. Scaringe at the helm,\" said Miyazaki.</p><p><blockquote>宫崎骏说：“有时可能需要改变方针，但我觉得在斯卡林奇先生的领导下，我们肯定会找到解决方案。”</blockquote></p><p> Sumitomo decided to invest in Rivian in October 2017, and the transaction closed that December. The Japanese group became the automaker's second corporate investor after ALJ.</p><p><blockquote>住友商事于2017年10月决定投资Rivian，交易于当年12月完成。这家日本集团成为该汽车制造商继ALJ之后的第二家企业投资者。</blockquote></p><p> Ishibashi relocated to Rivian's Detroit headquarters at the end of October 2017. A&nbsp;year later, Amazon.com founder Jeff Bezos came to observe the startup. Negotiations between Amazon and Rivian proceeded smoothly, and a $700 million infusion was announced just four months later, making Amazon the largest investor. Amazon also apparently&nbsp;ordered&nbsp;100,000 all-electric delivery vehicles from Rivian.</p><p><blockquote>石桥于2017年10月底搬迁至Rivian底特律总部。一年后，亚马逊创始人杰夫·贝索斯前来观摩这家初创公司。亚马逊与Rivian的谈判进展顺利，仅4个月后就宣布注入7亿美元，使亚马逊成为最大的投资者。亚马逊显然还从Rivian订购了10万辆全电动送货车。</blockquote></p><p> After investing in Rivian, Sumitomo became an eager intermediary between the automaker and Japanese suppliers. But at the time, Tesla was experiencing problems with production, which caused players in the automotive supply chain to be wary of EV startups.</p><p><blockquote>在Rivian投资后，住友商事成为汽车制造商和日本供应商之间热切的中间人。但当时，特斯拉在生产方面遇到了问题，这导致汽车供应链中的参与者对电动汽车初创公司持谨慎态度。</blockquote></p><p> Japanese suppliers were particularly unwilling to move forward on contract negotiations. Ishibashi's team arranged for Scaringe to personally meet with executives from Denso, Aisin and Panasonic so that they could hear his business model.</p><p><blockquote>日本供应商尤其不愿意推进合同谈判。石桥的团队安排斯卡林格亲自会见电装、爱信和松下的高管，以便他们听到他的商业模式。</blockquote></p><p> Sumitomo also brokered discussions concerning post-mass production tie-ups. One automaker wanted to jointly use a charging system while a Japanese non-life insurance provider pitched a partnership for an insurance business, according to Sumitomo.</p><p><blockquote>住友商事还促成了有关量产后合作的讨论。住友商事表示，一家汽车制造商希望联合使用充电系统，而一家日本非人寿保险提供商则寻求合作开展保险业务。</blockquote></p><p></p><p> \"We're not planning to sell Rivian shares for the time being,\" said Ishibashi. \"As a shareholder, we intend to support [Rivian] in distribution and after-sales services outside the U.S. and take an active approach in our collaboration.\"</p><p><blockquote>“我们暂时不打算出售Rivian股票，”石桥说。“作为股东，我们打算支持[Rivian]在美国以外的分销和售后服务，并在我们的合作中采取积极的态度。”</blockquote></p><p> Rivian started delivering its R1T pickup this September, which sells for about $67,000. In its first quarterly report since the float, the company revealed that it made only $1 million in revenue in the July-September period. The net loss exceeded $1.2 billion.</p><p><blockquote>Rivian今年9月开始交付R1T皮卡，售价约为67,000美元。该公司在上市以来的第一份季度报告中透露，7月至9月期间的收入仅为100万美元。净亏损超过12亿美元。</blockquote></p><p> The semiconductor shortage this year limited production to about 1,000 vehicles. Rivian's next task is to develop an infrastructure for mass production.</p><p><blockquote>今年半导体短缺将产量限制在1000辆左右。Rivian的下一个任务是开发大规模生产的基础设施。</blockquote></p><p> On Dec. 16, the same day as the earnings report, Rivian announced it would build an additional assembly plant and expand the Illinois plant. The goal is to lift annual capacity to 600,000 units in 2024.</p><p><blockquote>12月16日，也就是财报发布的同一天，Rivian宣布将增建一座装配厂，并扩建伊利诺伊工厂。目标是到2024年将年产能提高到60万台。</blockquote></p><p> \"Manufacturing cars is really difficult,\" said Miyazaki. \"Moreover, I'd expect [Rivian] to face various barriers because it's a startup.\"</p><p><blockquote>“制造汽车确实很困难，”宫崎骏说。“此外，我预计[Rivian]将面临各种障碍，因为它是一家初创公司。”</blockquote></p><p> When Amazon invested in Rivian, the valuation of the startup was estimated at between $1 billion and $2 billion, giving it unicorn status. By the time the company ended its first day of trading on Nov. 10, its market capitalization stood at $85.9 billion. If a company with a valuation of $10 billion qualifies as a decacorn, then Rivian would be a superdecacorn.</p><p><blockquote>当亚马逊投资Rivian时，这家初创公司的估值估计在10亿至20亿美元之间，这使其获得了独角兽地位。截至11月10日该公司首日交易结束时，其市值为859亿美元。如果一家估值为100亿美元的公司有资格成为十角兽，那么Rivian将成为超级十角兽。</blockquote></p><p> Sumitomo had not disclosed its&nbsp;investment amount, so Rivian's valuation in late 2017 was unclear. But if Amazon's investment is used as a starting point, Rivian's enterprise value would have multiplied 40 to more than 80 times over.</p><p><blockquote>住友尚未披露其投资金额，因此Rivian在2017年底的估值尚不清楚。但如果以亚马逊的投资为起点，Rivian的企业价值将增长40至80倍以上。</blockquote></p><p> Amid the soaring fortunes, Sumitomo President Masayuki Hyodo is keeping a cool head.</p><p><blockquote>在财富飙升的情况下，住友商事社长兵藤雅之保持着冷静的头脑。</blockquote></p><p> \"Making money off investments in startups is not the role of a trading company,\" said Hyodo. \"Rivian is a company that is very important to our EV platform. I can't speak to whether or not we'll make additional investments, but there is potential for all forms of collaboration.\"</p><p><blockquote>“通过投资初创公司赚钱不是贸易公司的职责，”Hyodo说。“Rivian是一家对我们的电动汽车平台非常重要的公司。我不能说我们是否会进行额外投资，但各种形式的合作都有潜力。”</blockquote></p><p> Rivian's share price once approached $180 -- more than twice its original offer price of $78. Since then, its price has tumbled to about $100. This largely stems from an announcement in late November that Ford Motor and Rivian were scrapping plans to jointly develop EVs. Ford owns 12% of Rivian.</p><p><blockquote>Rivian股价一度逼近180美元——是其最初发行价78美元的两倍多。从那以后，它的价格跌至100美元左右。这很大程度上源于11月底福特汽车和Rivian宣布取消联合开发电动汽车的计划。福特拥有Rivian 12%的股份。</blockquote></p><p> American EV startups Nikola and Lordstown Motors were consumed by fraud scandals in 2020 and 2021, respectively. Their market caps fell to less than one sixth of their peak values. Although Sumitomo had the foresight to invest in Rivian early, the Japanese group's ability to further develop&nbsp;its close relationship with the startup will come under scrutiny.</p><p><blockquote>美国电动汽车初创公司Nikola和Lordstown Motors分别在2020年和2021年陷入欺诈丑闻。它们的市值跌至不到峰值的六分之一。尽管住友商事很早就有先见之明在Rivian投资，但这家日本集团进一步发展与这家初创公司密切关系的能力将受到审视。</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>Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</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\">\nSumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nikkei Asia</strong><span class=\"h-time small\">2021-12-24 11:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Once-secretive automaker now worth almost 100 times its original value</p><p><blockquote>曾经神秘的汽车制造商现在的价值几乎是其原始价值的100倍</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b7e054c0ad4260b9074fbdd6c0947731\" tg-width=\"1400\" tg-height=\"788\" width=\"100%\" height=\"auto\"><span>A Rivian R1T all-electric truck in Times Square in New York on Nov. 10, the automaker's first day of trading. © AP</span></p><p><blockquote><p class=\"t-img-caption\"><span>11月10日，一辆Rivian R1T全电动卡车出现在纽约时代广场，这是该汽车制造商的第一天交易。©美联社</span></p></blockquote></p><p> TOKYO -- In the spring of 2017, a Saudi business associate made an intriguing proposal to Yoshito Miyazaki, an executive at Japanese trading house Sumitomo Corp., asking if he would like to invest in an interesting electric vehicle startup together.</p><p><blockquote>东京——2017年春天，一位沙特商业伙伴向日本贸易公司住友商事株式会社（Sumitomo Corp.）的高管宫崎义人（Yoshito Miyazaki）提出了一个有趣的提议，询问他是否愿意共同投资一家有趣的电动汽车初创公司。</blockquote></p><p> The target of the pitch was Rivian Automotive, which at the time was still operating in stealth mode with hardly any information to its name. The CEO of the outfit, R.J. Scaringe, maintained an especially low profile.</p><p><blockquote>此次推介的目标是Rivian汽车公司，该公司当时仍在秘密模式下运营，几乎没有任何有关其名称的信息。该公司的首席执行官R.J斯卡林奇保持着特别低调的姿态。</blockquote></p><p> What a difference four years make. Now Rivian's market capitalization hovers at about $100 billion following its debut on Nasdaq in November. Rivian's value has grown by a magnitude of nearly 100, and Sumitomo was one of the investors that got in on the ground floor.</p><p><blockquote>四年的变化真大。自11月在纳斯达克上市以来，Rivian的市值目前徘徊在1000亿美元左右。Rivian的价值增长了近100倍，住友商事是最早入股的投资者之一。</blockquote></p><p> The business associate, an executive at Saudi conglomerate Abdul Latif Jameel, had been visiting the U.S. when he met with Miyazaki, then the general manager of Sumitomo's Detroit office. Sumitomo and ALJ operate a joint-venture construction equipment distributor in Saudi Arabia, and the two companies were looking for other collaborative opportunities in the U.S.</p><p><blockquote>这位商业伙伴是沙特企业集团阿卜杜勒·拉蒂夫·贾米尔(Abdul Latif Jameel)的高管，当时他正在美国访问，会见了时任住友商事底特律办事处总经理的宫崎骏。住友商事和ALJ在沙特阿拉伯经营一家合资建筑设备分销商，两家公司正在美国寻找其他合作机会。</blockquote></p><p> It was then that Miyazaki heard Scaringe was going to make his first public appearance, at a town meeting hosted by the Original Equipment Suppliers Association at a venue not far from Detroit.</p><p><blockquote>就在那时，宫崎骏听说斯卡林奇将在离底特律不远的地方由原始设备供应商协会主办的城镇会议上首次公开露面。</blockquote></p><p> At the event, Scaringe made a passionate case for developing large EVs, a \"white space\" where competition was scarce. His plan was to roll out a sport utility vehicle and a pickup truck by approximately 2020. Rivian would leverage the new brand image to secure more funding, which would then be used to develop shared EVs and fully autonomous driving technology by 2023.</p><p><blockquote>在活动中，斯卡林奇对开发大型电动汽车提出了热情的理由，这是一个竞争很少的“空白”。他的计划是在2020年左右推出一款运动型多功能车和一款皮卡车。Rivian将利用新的品牌形象获得更多资金，然后在2023年前用于开发共享电动汽车和全自动驾驶技术。</blockquote></p><p> Many EV startups who bill themselves as the next Tesla pour their resources into developing sports cars. However, Scaringe demonstrated he was quick to pick up on shifting consumer tastes while maintaining a focus on next-generation technology.</p><p><blockquote>许多自称是下一个特斯拉的电动汽车初创公司将资源投入到开发跑车上。然而，斯卡林奇证明，他很快就能跟上不断变化的消费者口味，同时保持对下一代技术的关注。</blockquote></p><p> Miyazaki was floored by Scaringe's business model.</p><p><blockquote>宫崎骏被斯卡林奇的商业模式震惊了。</blockquote></p><p> \"Large-sized vehicles have a huge market in the U.S. because of their popularity, and I felt it was very rational since you could equip the vehicles with large-capacity batteries and extend driving ranges,\" said Miyazaki, who now heads Sumitomo's Beyond Mobility department.</p><p><blockquote>“大型车辆在美国拥有巨大的市场，因为它们很受欢迎，我觉得这是非常合理的，因为你可以为车辆配备大容量电池并延长行驶里程，”现任住友超越移动部门负责人的宫崎说。</blockquote></p><p> Miyazaki immediately launched a due diligence review of Rivian with Tatsuo Ishibashi, a subordinate who now heads the Detroit office. The team discovered the startup had taken the unusual step of spending $16 million buying an Illinois plant from Mitsubishi Motors in early 2017.</p><p><blockquote>宫崎骏立即与现任底特律办公室负责人的下属石桥达夫展开了对Rivian的尽职审查。该团队发现，这家初创公司采取了不同寻常的步骤，在2017年初斥资1600万美元从三菱汽车公司购买了伊利诺伊州的一家工厂。</blockquote></p><p> Mitsubishi Motors had originally invested 200 billion yen ($1.75 billion at current rates) in the assembly plant, which also handled engines, presswork and coating. The site has the capacity to turn out 250,000 vehicles a year.</p><p><blockquote>三菱汽车最初在该装配厂投资了2000亿日元（按当前价格计算为17.5亿美元），该装配厂还生产发动机、冲压和涂层。该工厂每年可生产25万辆汽车。</blockquote></p><p> \"This is a company that has a proper footing,\" Ishibashi thought of Rivian.</p><p><blockquote>“这是一家站稳脚跟的公司，”石桥想到了Rivian。</blockquote></p><p> When Miyazaki and Ishibashi began negotiating with Scaringe, they were drawn to his personality. When a Sumitomo executive visited from the Tokyo home office to tour Rivian, Scaringe discussed his business strategy, balancing logic with passion.</p><p><blockquote>当宫崎骏和石桥开始与斯卡林格谈判时，他们被他的个性所吸引。当住友商事的一位高管从东京都总部访问Rivian时，斯卡林奇讨论了他的商业战略，平衡了逻辑和激情。</blockquote></p><p> \"There may be times when a change in course is needed, but I felt we'd certainly arrive at solutions with Mr. Scaringe at the helm,\" said Miyazaki.</p><p><blockquote>宫崎骏说：“有时可能需要改变方针，但我觉得在斯卡林奇先生的领导下，我们肯定会找到解决方案。”</blockquote></p><p> Sumitomo decided to invest in Rivian in October 2017, and the transaction closed that December. The Japanese group became the automaker's second corporate investor after ALJ.</p><p><blockquote>住友商事于2017年10月决定投资Rivian，交易于当年12月完成。这家日本集团成为该汽车制造商继ALJ之后的第二家企业投资者。</blockquote></p><p> Ishibashi relocated to Rivian's Detroit headquarters at the end of October 2017. A&nbsp;year later, Amazon.com founder Jeff Bezos came to observe the startup. Negotiations between Amazon and Rivian proceeded smoothly, and a $700 million infusion was announced just four months later, making Amazon the largest investor. Amazon also apparently&nbsp;ordered&nbsp;100,000 all-electric delivery vehicles from Rivian.</p><p><blockquote>石桥于2017年10月底搬迁至Rivian底特律总部。一年后，亚马逊创始人杰夫·贝索斯前来观摩这家初创公司。亚马逊与Rivian的谈判进展顺利，仅4个月后就宣布注入7亿美元，使亚马逊成为最大的投资者。亚马逊显然还从Rivian订购了10万辆全电动送货车。</blockquote></p><p> After investing in Rivian, Sumitomo became an eager intermediary between the automaker and Japanese suppliers. But at the time, Tesla was experiencing problems with production, which caused players in the automotive supply chain to be wary of EV startups.</p><p><blockquote>在Rivian投资后，住友商事成为汽车制造商和日本供应商之间热切的中间人。但当时，特斯拉在生产方面遇到了问题，这导致汽车供应链中的参与者对电动汽车初创公司持谨慎态度。</blockquote></p><p> Japanese suppliers were particularly unwilling to move forward on contract negotiations. Ishibashi's team arranged for Scaringe to personally meet with executives from Denso, Aisin and Panasonic so that they could hear his business model.</p><p><blockquote>日本供应商尤其不愿意推进合同谈判。石桥的团队安排斯卡林格亲自会见电装、爱信和松下的高管，以便他们听到他的商业模式。</blockquote></p><p> Sumitomo also brokered discussions concerning post-mass production tie-ups. One automaker wanted to jointly use a charging system while a Japanese non-life insurance provider pitched a partnership for an insurance business, according to Sumitomo.</p><p><blockquote>住友商事还促成了有关量产后合作的讨论。住友商事表示，一家汽车制造商希望联合使用充电系统，而一家日本非人寿保险提供商则寻求合作开展保险业务。</blockquote></p><p></p><p> \"We're not planning to sell Rivian shares for the time being,\" said Ishibashi. \"As a shareholder, we intend to support [Rivian] in distribution and after-sales services outside the U.S. and take an active approach in our collaboration.\"</p><p><blockquote>“我们暂时不打算出售Rivian股票，”石桥说。“作为股东，我们打算支持[Rivian]在美国以外的分销和售后服务，并在我们的合作中采取积极的态度。”</blockquote></p><p> Rivian started delivering its R1T pickup this September, which sells for about $67,000. In its first quarterly report since the float, the company revealed that it made only $1 million in revenue in the July-September period. The net loss exceeded $1.2 billion.</p><p><blockquote>Rivian今年9月开始交付R1T皮卡，售价约为67,000美元。该公司在上市以来的第一份季度报告中透露，7月至9月期间的收入仅为100万美元。净亏损超过12亿美元。</blockquote></p><p> The semiconductor shortage this year limited production to about 1,000 vehicles. Rivian's next task is to develop an infrastructure for mass production.</p><p><blockquote>今年半导体短缺将产量限制在1000辆左右。Rivian的下一个任务是开发大规模生产的基础设施。</blockquote></p><p> On Dec. 16, the same day as the earnings report, Rivian announced it would build an additional assembly plant and expand the Illinois plant. The goal is to lift annual capacity to 600,000 units in 2024.</p><p><blockquote>12月16日，也就是财报发布的同一天，Rivian宣布将增建一座装配厂，并扩建伊利诺伊工厂。目标是到2024年将年产能提高到60万台。</blockquote></p><p> \"Manufacturing cars is really difficult,\" said Miyazaki. \"Moreover, I'd expect [Rivian] to face various barriers because it's a startup.\"</p><p><blockquote>“制造汽车确实很困难，”宫崎骏说。“此外，我预计[Rivian]将面临各种障碍，因为它是一家初创公司。”</blockquote></p><p> When Amazon invested in Rivian, the valuation of the startup was estimated at between $1 billion and $2 billion, giving it unicorn status. By the time the company ended its first day of trading on Nov. 10, its market capitalization stood at $85.9 billion. If a company with a valuation of $10 billion qualifies as a decacorn, then Rivian would be a superdecacorn.</p><p><blockquote>当亚马逊投资Rivian时，这家初创公司的估值估计在10亿至20亿美元之间，这使其获得了独角兽地位。截至11月10日该公司首日交易结束时，其市值为859亿美元。如果一家估值为100亿美元的公司有资格成为十角兽，那么Rivian将成为超级十角兽。</blockquote></p><p> Sumitomo had not disclosed its&nbsp;investment amount, so Rivian's valuation in late 2017 was unclear. But if Amazon's investment is used as a starting point, Rivian's enterprise value would have multiplied 40 to more than 80 times over.</p><p><blockquote>住友尚未披露其投资金额，因此Rivian在2017年底的估值尚不清楚。但如果以亚马逊的投资为起点，Rivian的企业价值将增长40至80倍以上。</blockquote></p><p> Amid the soaring fortunes, Sumitomo President Masayuki Hyodo is keeping a cool head.</p><p><blockquote>在财富飙升的情况下，住友商事社长兵藤雅之保持着冷静的头脑。</blockquote></p><p> \"Making money off investments in startups is not the role of a trading company,\" said Hyodo. \"Rivian is a company that is very important to our EV platform. I can't speak to whether or not we'll make additional investments, but there is potential for all forms of collaboration.\"</p><p><blockquote>“通过投资初创公司赚钱不是贸易公司的职责，”Hyodo说。“Rivian是一家对我们的电动汽车平台非常重要的公司。我不能说我们是否会进行额外投资，但各种形式的合作都有潜力。”</blockquote></p><p> Rivian's share price once approached $180 -- more than twice its original offer price of $78. Since then, its price has tumbled to about $100. This largely stems from an announcement in late November that Ford Motor and Rivian were scrapping plans to jointly develop EVs. Ford owns 12% of Rivian.</p><p><blockquote>Rivian股价一度逼近180美元——是其最初发行价78美元的两倍多。从那以后，它的价格跌至100美元左右。这很大程度上源于11月底福特汽车和Rivian宣布取消联合开发电动汽车的计划。福特拥有Rivian 12%的股份。</blockquote></p><p> American EV startups Nikola and Lordstown Motors were consumed by fraud scandals in 2020 and 2021, respectively. Their market caps fell to less than one sixth of their peak values. Although Sumitomo had the foresight to invest in Rivian early, the Japanese group's ability to further develop&nbsp;its close relationship with the startup will come under scrutiny.</p><p><blockquote>美国电动汽车初创公司Nikola和Lordstown Motors分别在2020年和2021年陷入欺诈丑闻。它们的市值跌至不到峰值的六分之一。尽管住友商事很早就有先见之明在Rivian投资，但这家日本集团进一步发展与这家初创公司密切关系的能力将受到审视。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://asia.nikkei.com/Business/Startups/Sumitomo-wins-big-with-early-bet-on-EV-startup-Rivian\">Nikkei Asia</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":{"RIVN":"Rivian Automotive, Inc."},"source_url":"https://asia.nikkei.com/Business/Startups/Sumitomo-wins-big-with-early-bet-on-EV-startup-Rivian","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163369412","content_text":"Once-secretive automaker now worth almost 100 times its original value\nA Rivian R1T all-electric truck in Times Square in New York on Nov. 10, the automaker's first day of trading. © AP\nTOKYO -- In the spring of 2017, a Saudi business associate made an intriguing proposal to Yoshito Miyazaki, an executive at Japanese trading house Sumitomo Corp., asking if he would like to invest in an interesting electric vehicle startup together.\nThe target of the pitch was Rivian Automotive, which at the time was still operating in stealth mode with hardly any information to its name. The CEO of the outfit, R.J. Scaringe, maintained an especially low profile.\nWhat a difference four years make. Now Rivian's market capitalization hovers at about $100 billion following its debut on Nasdaq in November. Rivian's value has grown by a magnitude of nearly 100, and Sumitomo was one of the investors that got in on the ground floor.\nThe business associate, an executive at Saudi conglomerate Abdul Latif Jameel, had been visiting the U.S. when he met with Miyazaki, then the general manager of Sumitomo's Detroit office. Sumitomo and ALJ operate a joint-venture construction equipment distributor in Saudi Arabia, and the two companies were looking for other collaborative opportunities in the U.S.\nIt was then that Miyazaki heard Scaringe was going to make his first public appearance, at a town meeting hosted by the Original Equipment Suppliers Association at a venue not far from Detroit.\nAt the event, Scaringe made a passionate case for developing large EVs, a \"white space\" where competition was scarce. His plan was to roll out a sport utility vehicle and a pickup truck by approximately 2020. Rivian would leverage the new brand image to secure more funding, which would then be used to develop shared EVs and fully autonomous driving technology by 2023.\nMany EV startups who bill themselves as the next Tesla pour their resources into developing sports cars. However, Scaringe demonstrated he was quick to pick up on shifting consumer tastes while maintaining a focus on next-generation technology.\nMiyazaki was floored by Scaringe's business model.\n\"Large-sized vehicles have a huge market in the U.S. because of their popularity, and I felt it was very rational since you could equip the vehicles with large-capacity batteries and extend driving ranges,\" said Miyazaki, who now heads Sumitomo's Beyond Mobility department.\nMiyazaki immediately launched a due diligence review of Rivian with Tatsuo Ishibashi, a subordinate who now heads the Detroit office. The team discovered the startup had taken the unusual step of spending $16 million buying an Illinois plant from Mitsubishi Motors in early 2017.\nMitsubishi Motors had originally invested 200 billion yen ($1.75 billion at current rates) in the assembly plant, which also handled engines, presswork and coating. The site has the capacity to turn out 250,000 vehicles a year.\n\"This is a company that has a proper footing,\" Ishibashi thought of Rivian.\nWhen Miyazaki and Ishibashi began negotiating with Scaringe, they were drawn to his personality. When a Sumitomo executive visited from the Tokyo home office to tour Rivian, Scaringe discussed his business strategy, balancing logic with passion.\n\"There may be times when a change in course is needed, but I felt we'd certainly arrive at solutions with Mr. Scaringe at the helm,\" said Miyazaki.\nSumitomo decided to invest in Rivian in October 2017, and the transaction closed that December. The Japanese group became the automaker's second corporate investor after ALJ.\nIshibashi relocated to Rivian's Detroit headquarters at the end of October 2017. A year later, Amazon.com founder Jeff Bezos came to observe the startup. Negotiations between Amazon and Rivian proceeded smoothly, and a $700 million infusion was announced just four months later, making Amazon the largest investor. Amazon also apparently ordered 100,000 all-electric delivery vehicles from Rivian.\nAfter investing in Rivian, Sumitomo became an eager intermediary between the automaker and Japanese suppliers. But at the time, Tesla was experiencing problems with production, which caused players in the automotive supply chain to be wary of EV startups.\nJapanese suppliers were particularly unwilling to move forward on contract negotiations. Ishibashi's team arranged for Scaringe to personally meet with executives from Denso, Aisin and Panasonic so that they could hear his business model.\nSumitomo also brokered discussions concerning post-mass production tie-ups. One automaker wanted to jointly use a charging system while a Japanese non-life insurance provider pitched a partnership for an insurance business, according to Sumitomo.\n\"We're not planning to sell Rivian shares for the time being,\" said Ishibashi. \"As a shareholder, we intend to support [Rivian] in distribution and after-sales services outside the U.S. and take an active approach in our collaboration.\"\nRivian started delivering its R1T pickup this September, which sells for about $67,000. In its first quarterly report since the float, the company revealed that it made only $1 million in revenue in the July-September period. The net loss exceeded $1.2 billion.\nThe semiconductor shortage this year limited production to about 1,000 vehicles. Rivian's next task is to develop an infrastructure for mass production.\nOn Dec. 16, the same day as the earnings report, Rivian announced it would build an additional assembly plant and expand the Illinois plant. The goal is to lift annual capacity to 600,000 units in 2024.\n\"Manufacturing cars is really difficult,\" said Miyazaki. \"Moreover, I'd expect [Rivian] to face various barriers because it's a startup.\"\nWhen Amazon invested in Rivian, the valuation of the startup was estimated at between $1 billion and $2 billion, giving it unicorn status. By the time the company ended its first day of trading on Nov. 10, its market capitalization stood at $85.9 billion. If a company with a valuation of $10 billion qualifies as a decacorn, then Rivian would be a superdecacorn.\nSumitomo had not disclosed its investment amount, so Rivian's valuation in late 2017 was unclear. But if Amazon's investment is used as a starting point, Rivian's enterprise value would have multiplied 40 to more than 80 times over.\nAmid the soaring fortunes, Sumitomo President Masayuki Hyodo is keeping a cool head.\n\"Making money off investments in startups is not the role of a trading company,\" said Hyodo. \"Rivian is a company that is very important to our EV platform. I can't speak to whether or not we'll make additional investments, but there is potential for all forms of collaboration.\"\nRivian's share price once approached $180 -- more than twice its original offer price of $78. Since then, its price has tumbled to about $100. This largely stems from an announcement in late November that Ford Motor and Rivian were scrapping plans to jointly develop EVs. Ford owns 12% of Rivian.\nAmerican EV startups Nikola and Lordstown Motors were consumed by fraud scandals in 2020 and 2021, respectively. Their market caps fell to less than one sixth of their peak values. Although Sumitomo had the foresight to invest in Rivian early, the Japanese group's ability to further develop its close relationship with the startup will come under scrutiny.","news_type":1,"symbols_score_info":{"RIVN":0}},"isVote":1,"tweetType":1,"viewCount":668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691539302,"gmtCreate":1640218998014,"gmtModify":1640218998146,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Good hor","listText":"Good hor","text":"Good 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those who bought it will disagree","listText":"Haha those who bought it will disagree","text":"Haha those who bought it will disagree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/690069482","repostId":"1143795954","repostType":4,"isVote":1,"tweetType":1,"viewCount":801,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607824599,"gmtCreate":1639527032051,"gmtModify":1639527032130,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607824599","repostId":"1101216534","repostType":4,"repost":{"id":"1101216534","kind":"news","pubTimestamp":1639525158,"share":"https://www.laohu8.com/m/news/1101216534?lang=zh_CN&edition=full","pubTime":"2021-12-15 07:39","market":"us","language":"en","title":"PayPal Holdings: Buying This Dip Will Make You Pay Pal<blockquote>PayPal控股：逢低买入会让你付钱</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101216534","media":"seekingalpha","summary":"Summary\n\nPayPal Holdings has demonstrated weak returns on invested capital in 2021 relative to their","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>PayPal Holdings has demonstrated weak returns on invested capital in 2021 relative to their peers.</li>  <li>The company is currently trading at 53 times its GAAP forward earnings making shares egregiously over-priced.</li>  <li>I believe that PayPal's FCF calculation is not a fair representation with transaction and credit losses being added to the company's cashflow.</li>  <li>Advancement in financial technology will begin to reduce the benefit of PayPal's value proposition.</li> </ul> </p><p><blockquote><ul><li>与同行相比，PayPal控股公司2021年的投资资本回报率较弱。</li><li>该公司目前的市盈率是GAAP预期市盈率的53倍，这使得股价被严重高估。</li><li>我认为PayPal的自由现金流计算并不公平，交易和信用损失被添加到公司的现金流中。</li><li>金融技术的进步将开始降低PayPal价值主张的好处。</li></ul></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> PayPal Holdings (PYPL), the household online payment firm with around 416 million active merchant accounts is currently gaining investors attention after sliding 30% over the last 6 months. The stock is extremely popular amongst American investors as approximately 245 hedge funds have it in their top 10 holdings. That being said, despite the large institutions and Wall Street's optimism around the stock, I fail to see what the majority of analysts see in PayPal. To begin with, despite the company's stock sliding 30% over the last 6 months, PayPal is still trading at a GAAP forward Price-to-earnings multiple of 53. Secondly, the company has had poor performance when looking at their return on invested capital. Thirdly, PayPal's FCF calculations in my opinion are inaccurate to the actual volume of cash the company is bringing in. Lastly, PayPal's business model appears to be fizzling out as India's FinTech expansion has shown that a transaction middleman is becoming increasingly redundant.</p><p><blockquote>PayPal控股(PYPL)是一家拥有约4.16亿活跃商户账户的家庭在线支付公司，在过去6个月下滑30%后，目前正受到投资者的关注。该股在美国投资者中非常受欢迎，大约有245家对冲基金将其列入前十大持股。话虽如此，尽管大型机构和华尔街对该股持乐观态度，但我看不到大多数分析师对PayPal的看法。首先，尽管该公司股价在过去6个月内下跌了30%，但PayPal的GAAP预期市盈率仍为53倍。其次，从投资资本回报率来看，该公司的业绩不佳。第三，在我看来，PayPal的自由现金流计算与公司带来的实际现金量不准确。最后，随着印度金融科技的扩张表明交易中间人变得越来越多余，PayPal的商业模式似乎正在失败。</blockquote></p><p> <b>PayPal's Underperformance</b></p><p><blockquote><b>PayPal表现不佳</b></blockquote></p><p> In order for me to come to the conclusion that PayPal has under-performed this year, I had compared the returns on invested capital of PayPal versus peers Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA). The return on invested capital is a key metric measuring how well management is at deploying their capital profitably. The following are the three companies current ROIC.</p><p><blockquote>为了让我得出PayPal今年表现不佳的结论，我将PayPal的投资资本回报率与同行Visa Inc（纽约证券交易所代码：V）和万事达卡Inc（纽约证券交易所代码：MA）进行了比较。投资资本回报率是衡量管理层如何利用资本盈利的关键指标。以下是三家公司目前的ROIC。</blockquote></p><p> PYPL return on invested capital</p><p><blockquote>PYPL投资资本回报率</blockquote></p><p> Data by YCharts</p><p><blockquote>数据来自YCharts</blockquote></p><p> One of the main reasons why Visa and Mastercard has and will continue to outperform PayPal in returns on invested capital is because their business models are much less risky. Visa and Mastercard are just payment processors who pass on any additional risks to retailers and banks, whereas PayPal has to endure the risk of a merchant either defaulting or not making a payment. That additional risk PayPal is forced to endure leads to transaction and credit losses which hurts their profitability. This ultimately gives PayPal's competitors a competitive advantage when looking through the lens of an investor.</p><p><blockquote>Visa和Mastercard在投资资本回报率方面已经并将继续优于PayPal的主要原因之一是因为它们的商业模式风险要小得多。Visa和Mastercard只是将任何额外风险转嫁给零售商和银行的支付处理商，而PayPal则必须承受商家违约或不付款的风险。PayPal被迫承受的额外风险会导致交易和信用损失，从而损害其盈利能力。从投资者的角度来看，这最终使PayPal的竞争对手获得了竞争优势。</blockquote></p><p> <b>Transaction And Credit Losses</b></p><p><blockquote><b>交易及信贷亏损</b></blockquote></p><p> From my perspective, the method in which is used to calculate PayPal's cashflows comes with some misrepresentations. The big problem with PayPal's FCF calculation is that they are able to add back all of their transaction and credit losses back onto their cashflow statement. This made up around 30% of PayPal's operating cashflow in 2020.</p><p><blockquote>在我看来，用于计算PayPal现金流的方法存在一些虚假陈述。PayPal自由现金流计算的一个大问题是，他们能够将所有交易和信用损失加回现金流量表中。这约占PayPal 2020年运营现金流的30%。</blockquote></p><p> As you can see, these transaction and credit losses have been making up a solid chunk of PayPal's annual free cashflow. These transaction and credit losses are simple to explain. PayPal provides loans to individuals with bad credit, and should they write off those bad loans (which they're in fact doing a lot of), the losses are added back on PayPal's cashflow statement. I am of the opinion that investors should be aware of the risks involved in this and be vigilant when accounting it in your analysis. PayPal even acknowledges the risk of these bad loans in their 10-k form.</p><p><blockquote>正如您所看到的，这些交易和信用损失一直占PayPal年度自由现金流的很大一部分。这些交易和信用损失很容易解释。PayPal向信用不良的个人提供贷款，如果他们注销这些不良贷款（事实上他们做了很多），损失就会重新添加到PayPal的现金流量表中。我认为，投资者应该意识到其中涉及的风险，并在分析中考虑它时保持警惕。PayPal甚至在10-k表格中承认了这些不良贷款的风险。</blockquote></p><p> For this reason, the large amount of transaction and credit losses being added back onto PayPal's cashflow statement represent additional risk and also leads me to believe that their cashflow calculation is slightly misrepresented.</p><p><blockquote>因此，PayPal现金流量表中添加的大量交易和信用损失代表了额外的风险，也让我相信他们的现金流计算略有歪曲。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> In order to compute the intrinsic value of PayPal stock, I will provide a discount cashflow model. The following is a forecast of some key data points needed to compute the calculation (all figures in millions USD).</p><p><blockquote>为了计算PayPal股票的内在价值，我将提供一个贴现现金流模型。以下是计算计算所需的一些关键数据点的预测（所有数字均以百万美元为单位）。</blockquote></p><p> For this calculation, I will be subtracting PayPal's transaction and credit losses as I've earlier stated that they overstate the company's cashflow. Additionally, I used 3 year moving averages to forecast D&amp;A and CapEx costs. Lastly, I chose a discount rate of 8% and a perpetual growth rate of 3%. The following is my discount cashflow model.</p><p><blockquote>在此计算中，我将减去PayPal的交易和信用损失，因为我之前曾表示，它们夸大了公司的现金流。此外，我使用3年移动平均线来预测D&amp;A和资本支出成本。最后，我选择了8%的贴现率和3%的永久增长率。以下是我的贴现现金流模型。</blockquote></p><p> My final consensus after computing my DCF model is that PayPal's intrinsic value is 77% lower than where shares are currently trading. This makes PayPal shares egregiously overvalued. Furthermore, looking deeper at PayPal's valuation using a comparable cost analysis, you can once again see by comparing the company's EV/EBITDA ratio to Visa and Mastercard, how overpriced PayPal shares are currently when compared to its peers.</p><p><blockquote>在计算DCF模型后，我的最终共识是，PayPal的内在价值比当前股票交易价格低77%。这使得PayPal股价被严重高估。此外，使用可比成本分析更深入地了解PayPal的估值，通过将该公司的EV/EBITDA比率与Visa和Mastercard进行比较，您可以再次看到PayPal股票目前与同行相比的定价有多高。</blockquote></p><p></p><p> I thought it would be important to add that PayPal's 1 year EPS growth rate is only about 4%, which compared to peers Visa and Mastercard is worse. Additionally, despite PayPal having a higher EV/EBITDA than both Mastercard and Visa, the company's YoY quarterly EPS growth has been lower and has shown a massive slowdown. Moreover, I don't expect PayPal's growth to pick up in the future as the industry moves away from their value proposition. The following is a chart representing quarterly YoY growth of the three companies.</p><p><blockquote>我认为需要补充的是，PayPal的1年每股收益增长率仅为4%左右，与同行Visa和Mastercard相比较差。此外，尽管PayPal的EV/EBITDA高于万事达卡和Visa，但该公司的季度每股收益同比增长较低，并且大幅放缓。此外，随着该行业偏离他们的价值主张，我预计PayPal的增长未来不会回升。下图显示了三家公司的季度同比增长情况。</blockquote></p><p> As you can see, PayPal's EV-to-EBITDA is higher, despite lower EPS growth then their two largest rivals. To conclude on PayPal's valuation, PayPal has the price of a growth stock however, the company's growth rate and growth catalyst closer resembles a retirement value stock. This further amplifies my conviction that in my opinion PayPal shares are overvalued.</p><p><blockquote>正如您所看到的，尽管每股收益增长低于两个最大竞争对手，但PayPal的电动汽车与EBITDA之比更高。总结PayPal的估值，PayPal拥有成长型股票的价格，然而，该公司的增长率和增长催化剂更类似于退休价值股票。这进一步强化了我的信念，即我认为PayPal股票被高估了。</blockquote></p><p> <b>FinTech Evolution Is Leaving PayPal Behind</b></p><p><blockquote><b>金融科技的发展正在将PayPal抛在后面</b></blockquote></p><p> When PayPal originally released its initial concept and value proposition, it took the world by storm as their business model was nothing others had seen before. That being said, the greatest risk PayPal faces in the future is that its clock may be ticking as banks and other new FinTech solutions change the market to where we just have bank-to-bank transactions, leaving less need for a middleman such as PayPal. You're already beginning to see this in countries such as China and now India. India specifically is set to have bank-to-bank digital payments increase rapidly over the next couple of years. The following is the forecasted dollar amount of digital payments in India in trillions of rupees.</p><p><blockquote>当PayPal最初发布其最初的概念和价值主张时，它风靡了世界，因为他们的商业模式是其他人从未见过的。话虽如此，PayPal未来面临的最大风险是，随着银行和其他新的金融科技解决方案将市场改变为只有银行对银行交易的市场，从而减少对PayPal等中间商的需求，它的时间可能正在流逝。你已经开始在中国和现在的印度等国家看到这一点。特别是印度，银行间的数字支付将在未来几年迅速增长。以下是印度数字支付的预测金额，单位为万亿卢比。</blockquote></p><p> Between China and India's adoption of FinTech and digital payments, the countries are setting the stage as to where the payment market will be headed in the next couple of years. Unfortunately for PayPal, that seems to be a world without a middleman between a merchant and a bank. Mastercard and Visa don't carry this risk because both companies just process payments, leaving them to be much better alternative investments.</p><p><blockquote>随着中国和印度对金融科技和数字支付的采用，这两个国家正在为未来几年支付市场的走向奠定基础。不幸的是，对于PayPal来说，这似乎是一个商人和银行之间没有中间人的世界。万事达卡和维萨卡不承担这种风险，因为两家公司都只处理付款，使它们成为更好的另类投资。</blockquote></p><p> <b>Why I Could Be Wrong And Final Thoughts</b></p><p><blockquote><b>为什么我可能是错的和最后的想法</b></blockquote></p><p> To conclude my bearish PayPal thesis, I would like to say that if PayPal is able to pull together a couple of decent quarters, then in the short-term I could be wrong about the stock price as Wall Street's fondness for the company could push the valuation a little bit higher. That being said, I have to say that longer-term this is definitely a position I would want to avoid. PayPal's FCF calculations in my opinion are questionable, the company is currently egregiously overpriced with little growth, and its business model could begin to be fazed out down the line. For these reasons, I believe that PayPal is poised to fall by an additional 30-40% over the next 1-2 years. As much as investors want to talk about the past performance for this company, past performance does not equate to future performance. Therefore, I have to say that if you decide to purchase some PayPal shares, I think you will certainly pay pal.</p><p><blockquote>在结束我看跌PayPal的论点时，我想说的是，如果PayPal能够在几个季度取得不错的业绩，那么短期内我对股价的看法可能是错误的，因为华尔街对该公司的喜爱可能会推动估值高一点。话虽如此，我不得不说，从长远来看，这绝对是我想要避免的职位。在我看来，PayPal的自由现金流计算值得怀疑，该公司目前的定价过高，几乎没有增长，而且其商业模式可能会开始受到影响。出于这些原因，我认为PayPal在未来1-2年内将再下跌30-40%。尽管投资者很想谈论这家公司过去的业绩，但过去的业绩并不等同于未来的业绩。因此，我不得不说，如果你决定购买一些PayPal股票，我想你肯定会付钱给pal。</blockquote></p><p></p>","source":"lsy1638401102509","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>PayPal Holdings: Buying This Dip Will Make You Pay Pal<blockquote>PayPal控股：逢低买入会让你付钱</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\">\nPayPal Holdings: Buying This Dip Will Make You Pay Pal<blockquote>PayPal控股：逢低买入会让你付钱</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-12-15 07:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>PayPal Holdings has demonstrated weak returns on invested capital in 2021 relative to their peers.</li>  <li>The company is currently trading at 53 times its GAAP forward earnings making shares egregiously over-priced.</li>  <li>I believe that PayPal's FCF calculation is not a fair representation with transaction and credit losses being added to the company's cashflow.</li>  <li>Advancement in financial technology will begin to reduce the benefit of PayPal's value proposition.</li> </ul> </p><p><blockquote><ul><li>与同行相比，PayPal控股公司2021年的投资资本回报率较弱。</li><li>该公司目前的市盈率是GAAP预期市盈率的53倍，这使得股价被严重高估。</li><li>我认为PayPal的自由现金流计算并不公平，交易和信用损失被添加到公司的现金流中。</li><li>金融技术的进步将开始降低PayPal价值主张的好处。</li></ul></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> PayPal Holdings (PYPL), the household online payment firm with around 416 million active merchant accounts is currently gaining investors attention after sliding 30% over the last 6 months. The stock is extremely popular amongst American investors as approximately 245 hedge funds have it in their top 10 holdings. That being said, despite the large institutions and Wall Street's optimism around the stock, I fail to see what the majority of analysts see in PayPal. To begin with, despite the company's stock sliding 30% over the last 6 months, PayPal is still trading at a GAAP forward Price-to-earnings multiple of 53. Secondly, the company has had poor performance when looking at their return on invested capital. Thirdly, PayPal's FCF calculations in my opinion are inaccurate to the actual volume of cash the company is bringing in. Lastly, PayPal's business model appears to be fizzling out as India's FinTech expansion has shown that a transaction middleman is becoming increasingly redundant.</p><p><blockquote>PayPal控股(PYPL)是一家拥有约4.16亿活跃商户账户的家庭在线支付公司，在过去6个月下滑30%后，目前正受到投资者的关注。该股在美国投资者中非常受欢迎，大约有245家对冲基金将其列入前十大持股。话虽如此，尽管大型机构和华尔街对该股持乐观态度，但我看不到大多数分析师对PayPal的看法。首先，尽管该公司股价在过去6个月内下跌了30%，但PayPal的GAAP预期市盈率仍为53倍。其次，从投资资本回报率来看，该公司的业绩不佳。第三，在我看来，PayPal的自由现金流计算与公司带来的实际现金量不准确。最后，随着印度金融科技的扩张表明交易中间人变得越来越多余，PayPal的商业模式似乎正在失败。</blockquote></p><p> <b>PayPal's Underperformance</b></p><p><blockquote><b>PayPal表现不佳</b></blockquote></p><p> In order for me to come to the conclusion that PayPal has under-performed this year, I had compared the returns on invested capital of PayPal versus peers Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA). The return on invested capital is a key metric measuring how well management is at deploying their capital profitably. The following are the three companies current ROIC.</p><p><blockquote>为了让我得出PayPal今年表现不佳的结论，我将PayPal的投资资本回报率与同行Visa Inc（纽约证券交易所代码：V）和万事达卡Inc（纽约证券交易所代码：MA）进行了比较。投资资本回报率是衡量管理层如何利用资本盈利的关键指标。以下是三家公司目前的ROIC。</blockquote></p><p> PYPL return on invested capital</p><p><blockquote>PYPL投资资本回报率</blockquote></p><p> Data by YCharts</p><p><blockquote>数据来自YCharts</blockquote></p><p> One of the main reasons why Visa and Mastercard has and will continue to outperform PayPal in returns on invested capital is because their business models are much less risky. Visa and Mastercard are just payment processors who pass on any additional risks to retailers and banks, whereas PayPal has to endure the risk of a merchant either defaulting or not making a payment. That additional risk PayPal is forced to endure leads to transaction and credit losses which hurts their profitability. This ultimately gives PayPal's competitors a competitive advantage when looking through the lens of an investor.</p><p><blockquote>Visa和Mastercard在投资资本回报率方面已经并将继续优于PayPal的主要原因之一是因为它们的商业模式风险要小得多。Visa和Mastercard只是将任何额外风险转嫁给零售商和银行的支付处理商，而PayPal则必须承受商家违约或不付款的风险。PayPal被迫承受的额外风险会导致交易和信用损失，从而损害其盈利能力。从投资者的角度来看，这最终使PayPal的竞争对手获得了竞争优势。</blockquote></p><p> <b>Transaction And Credit Losses</b></p><p><blockquote><b>交易及信贷亏损</b></blockquote></p><p> From my perspective, the method in which is used to calculate PayPal's cashflows comes with some misrepresentations. The big problem with PayPal's FCF calculation is that they are able to add back all of their transaction and credit losses back onto their cashflow statement. This made up around 30% of PayPal's operating cashflow in 2020.</p><p><blockquote>在我看来，用于计算PayPal现金流的方法存在一些虚假陈述。PayPal自由现金流计算的一个大问题是，他们能够将所有交易和信用损失加回现金流量表中。这约占PayPal 2020年运营现金流的30%。</blockquote></p><p> As you can see, these transaction and credit losses have been making up a solid chunk of PayPal's annual free cashflow. These transaction and credit losses are simple to explain. PayPal provides loans to individuals with bad credit, and should they write off those bad loans (which they're in fact doing a lot of), the losses are added back on PayPal's cashflow statement. I am of the opinion that investors should be aware of the risks involved in this and be vigilant when accounting it in your analysis. PayPal even acknowledges the risk of these bad loans in their 10-k form.</p><p><blockquote>正如您所看到的，这些交易和信用损失一直占PayPal年度自由现金流的很大一部分。这些交易和信用损失很容易解释。PayPal向信用不良的个人提供贷款，如果他们注销这些不良贷款（事实上他们做了很多），损失就会重新添加到PayPal的现金流量表中。我认为，投资者应该意识到其中涉及的风险，并在分析中考虑它时保持警惕。PayPal甚至在10-k表格中承认了这些不良贷款的风险。</blockquote></p><p> For this reason, the large amount of transaction and credit losses being added back onto PayPal's cashflow statement represent additional risk and also leads me to believe that their cashflow calculation is slightly misrepresented.</p><p><blockquote>因此，PayPal现金流量表中添加的大量交易和信用损失代表了额外的风险，也让我相信他们的现金流计算略有歪曲。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> In order to compute the intrinsic value of PayPal stock, I will provide a discount cashflow model. The following is a forecast of some key data points needed to compute the calculation (all figures in millions USD).</p><p><blockquote>为了计算PayPal股票的内在价值，我将提供一个贴现现金流模型。以下是计算计算所需的一些关键数据点的预测（所有数字均以百万美元为单位）。</blockquote></p><p> For this calculation, I will be subtracting PayPal's transaction and credit losses as I've earlier stated that they overstate the company's cashflow. Additionally, I used 3 year moving averages to forecast D&amp;A and CapEx costs. Lastly, I chose a discount rate of 8% and a perpetual growth rate of 3%. The following is my discount cashflow model.</p><p><blockquote>在此计算中，我将减去PayPal的交易和信用损失，因为我之前曾表示，它们夸大了公司的现金流。此外，我使用3年移动平均线来预测D&amp;A和资本支出成本。最后，我选择了8%的贴现率和3%的永久增长率。以下是我的贴现现金流模型。</blockquote></p><p> My final consensus after computing my DCF model is that PayPal's intrinsic value is 77% lower than where shares are currently trading. This makes PayPal shares egregiously overvalued. Furthermore, looking deeper at PayPal's valuation using a comparable cost analysis, you can once again see by comparing the company's EV/EBITDA ratio to Visa and Mastercard, how overpriced PayPal shares are currently when compared to its peers.</p><p><blockquote>在计算DCF模型后，我的最终共识是，PayPal的内在价值比当前股票交易价格低77%。这使得PayPal股价被严重高估。此外，使用可比成本分析更深入地了解PayPal的估值，通过将该公司的EV/EBITDA比率与Visa和Mastercard进行比较，您可以再次看到PayPal股票目前与同行相比的定价有多高。</blockquote></p><p></p><p> I thought it would be important to add that PayPal's 1 year EPS growth rate is only about 4%, which compared to peers Visa and Mastercard is worse. Additionally, despite PayPal having a higher EV/EBITDA than both Mastercard and Visa, the company's YoY quarterly EPS growth has been lower and has shown a massive slowdown. Moreover, I don't expect PayPal's growth to pick up in the future as the industry moves away from their value proposition. The following is a chart representing quarterly YoY growth of the three companies.</p><p><blockquote>我认为需要补充的是，PayPal的1年每股收益增长率仅为4%左右，与同行Visa和Mastercard相比较差。此外，尽管PayPal的EV/EBITDA高于万事达卡和Visa，但该公司的季度每股收益同比增长较低，并且大幅放缓。此外，随着该行业偏离他们的价值主张，我预计PayPal的增长未来不会回升。下图显示了三家公司的季度同比增长情况。</blockquote></p><p> As you can see, PayPal's EV-to-EBITDA is higher, despite lower EPS growth then their two largest rivals. To conclude on PayPal's valuation, PayPal has the price of a growth stock however, the company's growth rate and growth catalyst closer resembles a retirement value stock. This further amplifies my conviction that in my opinion PayPal shares are overvalued.</p><p><blockquote>正如您所看到的，尽管每股收益增长低于两个最大竞争对手，但PayPal的电动汽车与EBITDA之比更高。总结PayPal的估值，PayPal拥有成长型股票的价格，然而，该公司的增长率和增长催化剂更类似于退休价值股票。这进一步强化了我的信念，即我认为PayPal股票被高估了。</blockquote></p><p> <b>FinTech Evolution Is Leaving PayPal Behind</b></p><p><blockquote><b>金融科技的发展正在将PayPal抛在后面</b></blockquote></p><p> When PayPal originally released its initial concept and value proposition, it took the world by storm as their business model was nothing others had seen before. That being said, the greatest risk PayPal faces in the future is that its clock may be ticking as banks and other new FinTech solutions change the market to where we just have bank-to-bank transactions, leaving less need for a middleman such as PayPal. You're already beginning to see this in countries such as China and now India. India specifically is set to have bank-to-bank digital payments increase rapidly over the next couple of years. The following is the forecasted dollar amount of digital payments in India in trillions of rupees.</p><p><blockquote>当PayPal最初发布其最初的概念和价值主张时，它风靡了世界，因为他们的商业模式是其他人从未见过的。话虽如此，PayPal未来面临的最大风险是，随着银行和其他新的金融科技解决方案将市场改变为只有银行对银行交易的市场，从而减少对PayPal等中间商的需求，它的时间可能正在流逝。你已经开始在中国和现在的印度等国家看到这一点。特别是印度，银行间的数字支付将在未来几年迅速增长。以下是印度数字支付的预测金额，单位为万亿卢比。</blockquote></p><p> Between China and India's adoption of FinTech and digital payments, the countries are setting the stage as to where the payment market will be headed in the next couple of years. Unfortunately for PayPal, that seems to be a world without a middleman between a merchant and a bank. Mastercard and Visa don't carry this risk because both companies just process payments, leaving them to be much better alternative investments.</p><p><blockquote>随着中国和印度对金融科技和数字支付的采用，这两个国家正在为未来几年支付市场的走向奠定基础。不幸的是，对于PayPal来说，这似乎是一个商人和银行之间没有中间人的世界。万事达卡和维萨卡不承担这种风险，因为两家公司都只处理付款，使它们成为更好的另类投资。</blockquote></p><p> <b>Why I Could Be Wrong And Final Thoughts</b></p><p><blockquote><b>为什么我可能是错的和最后的想法</b></blockquote></p><p> To conclude my bearish PayPal thesis, I would like to say that if PayPal is able to pull together a couple of decent quarters, then in the short-term I could be wrong about the stock price as Wall Street's fondness for the company could push the valuation a little bit higher. That being said, I have to say that longer-term this is definitely a position I would want to avoid. PayPal's FCF calculations in my opinion are questionable, the company is currently egregiously overpriced with little growth, and its business model could begin to be fazed out down the line. For these reasons, I believe that PayPal is poised to fall by an additional 30-40% over the next 1-2 years. As much as investors want to talk about the past performance for this company, past performance does not equate to future performance. Therefore, I have to say that if you decide to purchase some PayPal shares, I think you will certainly pay pal.</p><p><blockquote>在结束我看跌PayPal的论点时，我想说的是，如果PayPal能够在几个季度取得不错的业绩，那么短期内我对股价的看法可能是错误的，因为华尔街对该公司的喜爱可能会推动估值高一点。话虽如此，我不得不说，从长远来看，这绝对是我想要避免的职位。在我看来，PayPal的自由现金流计算值得怀疑，该公司目前的定价过高，几乎没有增长，而且其商业模式可能会开始受到影响。出于这些原因，我认为PayPal在未来1-2年内将再下跌30-40%。尽管投资者很想谈论这家公司过去的业绩，但过去的业绩并不等同于未来的业绩。因此，我不得不说，如果你决定购买一些PayPal股票，我想你肯定会付钱给pal。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4475141-paypal-holdings-buying-dip-unattractive\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://seekingalpha.com/article/4475141-paypal-holdings-buying-dip-unattractive","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101216534","content_text":"Summary\n\nPayPal Holdings has demonstrated weak returns on invested capital in 2021 relative to their peers.\nThe company is currently trading at 53 times its GAAP forward earnings making shares egregiously over-priced.\nI believe that PayPal's FCF calculation is not a fair representation with transaction and credit losses being added to the company's cashflow.\nAdvancement in financial technology will begin to reduce the benefit of PayPal's value proposition.\n\n\n\nInvestment Thesis\nPayPal Holdings (PYPL), the household online payment firm with around 416 million active merchant accounts is currently gaining investors attention after sliding 30% over the last 6 months. The stock is extremely popular amongst American investors as approximately 245 hedge funds have it in their top 10 holdings. That being said, despite the large institutions and Wall Street's optimism around the stock, I fail to see what the majority of analysts see in PayPal. To begin with, despite the company's stock sliding 30% over the last 6 months, PayPal is still trading at a GAAP forward Price-to-earnings multiple of 53. Secondly, the company has had poor performance when looking at their return on invested capital. Thirdly, PayPal's FCF calculations in my opinion are inaccurate to the actual volume of cash the company is bringing in. Lastly, PayPal's business model appears to be fizzling out as India's FinTech expansion has shown that a transaction middleman is becoming increasingly redundant.\n\nPayPal's Underperformance\nIn order for me to come to the conclusion that PayPal has under-performed this year, I had compared the returns on invested capital of PayPal versus peers Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA). The return on invested capital is a key metric measuring how well management is at deploying their capital profitably. The following are the three companies current ROIC.\n\nPYPL return on invested capital\nData by YCharts\nOne of the main reasons why Visa and Mastercard has and will continue to outperform PayPal in returns on invested capital is because their business models are much less risky. Visa and Mastercard are just payment processors who pass on any additional risks to retailers and banks, whereas PayPal has to endure the risk of a merchant either defaulting or not making a payment. That additional risk PayPal is forced to endure leads to transaction and credit losses which hurts their profitability. This ultimately gives PayPal's competitors a competitive advantage when looking through the lens of an investor.\n\nTransaction And Credit Losses\nFrom my perspective, the method in which is used to calculate PayPal's cashflows comes with some misrepresentations. The big problem with PayPal's FCF calculation is that they are able to add back all of their transaction and credit losses back onto their cashflow statement. This made up around 30% of PayPal's operating cashflow in 2020.\n\nAs you can see, these transaction and credit losses have been making up a solid chunk of PayPal's annual free cashflow. These transaction and credit losses are simple to explain. PayPal provides loans to individuals with bad credit, and should they write off those bad loans (which they're in fact doing a lot of), the losses are added back on PayPal's cashflow statement. I am of the opinion that investors should be aware of the risks involved in this and be vigilant when accounting it in your analysis. PayPal even acknowledges the risk of these bad loans in their 10-k form.\n\nFor this reason, the large amount of transaction and credit losses being added back onto PayPal's cashflow statement represent additional risk and also leads me to believe that their cashflow calculation is slightly misrepresented.\n\nValuation\nIn order to compute the intrinsic value of PayPal stock, I will provide a discount cashflow model. The following is a forecast of some key data points needed to compute the calculation (all figures in millions USD).\n\nFor this calculation, I will be subtracting PayPal's transaction and credit losses as I've earlier stated that they overstate the company's cashflow. Additionally, I used 3 year moving averages to forecast D&A and CapEx costs. Lastly, I chose a discount rate of 8% and a perpetual growth rate of 3%. The following is my discount cashflow model.\nMy final consensus after computing my DCF model is that PayPal's intrinsic value is 77% lower than where shares are currently trading. This makes PayPal shares egregiously overvalued. Furthermore, looking deeper at PayPal's valuation using a comparable cost analysis, you can once again see by comparing the company's EV/EBITDA ratio to Visa and Mastercard, how overpriced PayPal shares are currently when compared to its peers.\n\nI thought it would be important to add that PayPal's 1 year EPS growth rate is only about 4%, which compared to peers Visa and Mastercard is worse. Additionally, despite PayPal having a higher EV/EBITDA than both Mastercard and Visa, the company's YoY quarterly EPS growth has been lower and has shown a massive slowdown. Moreover, I don't expect PayPal's growth to pick up in the future as the industry moves away from their value proposition. The following is a chart representing quarterly YoY growth of the three companies.\n\nAs you can see, PayPal's EV-to-EBITDA is higher, despite lower EPS growth then their two largest rivals. To conclude on PayPal's valuation, PayPal has the price of a growth stock however, the company's growth rate and growth catalyst closer resembles a retirement value stock. This further amplifies my conviction that in my opinion PayPal shares are overvalued.\n\nFinTech Evolution Is Leaving PayPal Behind\nWhen PayPal originally released its initial concept and value proposition, it took the world by storm as their business model was nothing others had seen before. That being said, the greatest risk PayPal faces in the future is that its clock may be ticking as banks and other new FinTech solutions change the market to where we just have bank-to-bank transactions, leaving less need for a middleman such as PayPal. You're already beginning to see this in countries such as China and now India. India specifically is set to have bank-to-bank digital payments increase rapidly over the next couple of years. The following is the forecasted dollar amount of digital payments in India in trillions of rupees.\n\nBetween China and India's adoption of FinTech and digital payments, the countries are setting the stage as to where the payment market will be headed in the next couple of years. Unfortunately for PayPal, that seems to be a world without a middleman between a merchant and a bank. Mastercard and Visa don't carry this risk because both companies just process payments, leaving them to be much better alternative investments.\n\n\nWhy I Could Be Wrong And Final Thoughts\nTo conclude my bearish PayPal thesis, I would like to say that if PayPal is able to pull together a couple of decent quarters, then in the short-term I could be wrong about the stock price as Wall Street's fondness for the company could push the valuation a little bit higher. That being said, I have to say that longer-term this is definitely a position I would want to avoid. PayPal's FCF calculations in my opinion are questionable, the company is currently egregiously overpriced with little growth, and its business model could begin to be fazed out down the line. For these reasons, I believe that PayPal is poised to fall by an additional 30-40% over the next 1-2 years. As much as investors want to talk about the past performance for this company, past performance does not equate to future performance. Therefore, I have to say that if you decide to purchase some PayPal shares, I think you will certainly pay pal.","news_type":1,"symbols_score_info":{"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604730375,"gmtCreate":1639444711430,"gmtModify":1639444711551,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/604730375","repostId":"2191698116","repostType":4,"isVote":1,"tweetType":1,"viewCount":646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":859840537,"gmtCreate":1634688996858,"gmtModify":1634688997134,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Swee lah","listText":"Swee lah","text":"Swee lah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/859840537","repostId":"2176710436","repostType":4,"isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821624494,"gmtCreate":1633742210226,"gmtModify":1633742210357,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/821624494","repostId":"1198772378","repostType":4,"repost":{"id":"1198772378","kind":"news","pubTimestamp":1633741203,"share":"https://www.laohu8.com/m/news/1198772378?lang=zh_CN&edition=full","pubTime":"2021-10-09 09:00","market":"us","language":"en","title":"Apple Seeks to Delay Ruling Loosening Its Grip on App Store<blockquote>苹果寻求推迟放松对App Store控制的裁决</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1198772378","media":"Bloomberg","summary":"(Bloomberg) -- Apple Inc. is angling to delay making the most significant change to its App Store bu","content":"<p>(Bloomberg) -- Apple Inc. is angling to delay making the most significant change to its App Store business model since the platform was launched in 2008, an overhaul that could cost the tech giant a few billion dollars annually.</p><p><blockquote>（彭博社）-苹果公司正试图推迟对其应用商店商业模式进行自2008年推出该平台以来最重大的变革，这一改革可能会使这家科技巨头每年损失数十亿美元。</blockquote></p><p> The iPhone maker gave notice Friday that will appeal a judge’s ruling in its fight with Epic Games Inc. ordering the Cupertino, California-based company to stop blocking developers from letting users complete in-app purchases on the web. It also asked the judge to put her Dec. 9 deadline for App Store rule changes on hold during the appeal, which if allowed could keep business as usual for Apple for at least a year.</p><p><blockquote>这家iPhone制造商周五发出通知，将对法官在与Epic Games Inc.的斗争中的裁决提出上诉，该裁决命令这家总部位于加利福尼亚州库比蒂诺的公司停止阻止开发者让用户在网络上完成应用内购买。它还要求法官在上诉期间暂停12月9日修改App Store规则的最后期限，如果获得允许，苹果的业务至少可以照常运行一年。</blockquote></p><p> The Sept. 10 ruling largely vindicated Apple’s business model that charges commissions on developers for App Store transactions, but the judge said Apple must allow direct communication between users and app makers and permit links to the web to complete transactions.</p><p><blockquote>9月10日的裁决在很大程度上证明了苹果向开发者收取App Store交易佣金的商业模式是正确的，但法官表示，苹果必须允许用户和应用程序制造商之间的直接沟通，并允许链接到网络来完成交易。</blockquote></p><p> Bloomberg Intelligence has said that pressure on Apple to lower its commissions, which currently run as high as 30%, could squeeze revenue by $2 billion to $4 billion in a worst-case scenario.</p><p><blockquote>彭博资讯表示，苹果面临降低佣金的压力（目前佣金高达30%），在最坏的情况下，收入可能会减少20亿至40亿美元。</blockquote></p><p> Apple said in its filing that it wants to “maintain the status quo” as “there’s no reason to expend resources” on App Store changes during the appeals process. It also argued there could be “unintended downstream consequences for consumers and the iOS platform” if the judge’s order goes into effect Dec. 9. A postponement would give the company time to address concerns in a way that could potentially do away with the need to let developers allow consumers to make web purchases, Apple said.</p><p><blockquote>苹果在提交的文件中表示，它希望“维持现状”，因为在上诉过程中“没有理由花费资源”来改变App Store。它还认为，如果法官的命令于12月9日生效，可能会“对消费者和iOS平台产生意想不到的下游后果”。苹果表示，推迟将使公司有时间解决问题，从而有可能消除开发商允许消费者进行网上购物的需要。</blockquote></p><p> “Apple is working hard to address these difficult issues in a changing world, enhancing information flow without compromising the consumer experience,” the company said.</p><p><blockquote>该公司表示：“苹果正在努力解决不断变化的世界中的这些难题，在不影响消费者体验的情况下增强信息流。”</blockquote></p><p> A hearing on Apple’s stay request has been set for Nov. 16, but the company said in a briefing it’s seeking to move the proceeding to Nov. 2. If U.S. District Judge Yvonne Gonzalez Rogers refuses to grant the stay, Apple said, the company could go to the Ninth Circuit Court of Appeals.</p><p><blockquote>关于苹果居留请求的听证会定于11月16日举行，但该公司在一份简报中表示，正在寻求将诉讼程序推迟到11月2日。苹果表示，如果美国地区法官Yvonne Gonzalez Rogers拒绝批准暂缓执行，该公司可能会向第九巡回上诉法院提起诉讼。</blockquote></p><p> When the ruling came out, following a three-week trial in May, Apple hailed it as a victory because the judge didn’t find that the company violated federal antitrust law. Tim Sweeney, Epic’s founder and chief executive officer, said in a tweet “the ruling isn’t a win for developers or for consumers” and his company promptly filed notice that it will appeal.</p><p><blockquote>经过5月份为期三周的审判，当裁决出来时，苹果称赞这是一次胜利，因为法官没有发现该公司违反了联邦反垄断法。Epic创始人兼首席执行官蒂姆·斯威尼(Tim Sweeney)在一条推文中表示，“这一裁决对开发商或消费者来说都不是胜利”，他的公司立即提交了将上诉的通知。</blockquote></p><p> Epic declined to comment on Apple’s appeal Friday but Sweeney tweeted an image of Agent Peely, a banana action figure in Epic’s popular battle-royale game Fortnite who briefly became a source of controversy in the trial.</p><p><blockquote>Epic周五拒绝对苹果的上诉发表评论，但Sweeney在推特上发布了一张特工Peely的照片，这是Epic广受欢迎的皇家战役游戏《堡垒之夜》中的香蕉动作人偶，曾短暂成为审判中争议的来源。</blockquote></p><p> Apple has announced that it plans to keep Fortnite off of the App Store until appeals are exhausted, a process that could take as long as five years if the fight goes all the way to the U.S. Supreme Court.</p><p><blockquote>苹果宣布，计划在上诉用尽之前将《堡垒之夜》从App Store中删除，如果这场斗争一直打到美国最高法院，这一过程可能需要长达五年的时间。</blockquote></p><p> While Gonzalez Rogers said Apple can no longer ban developers from pointing users to the web to complete transactions -- bypassing the App Store’s in-app-purchase system -- the judge didn’t state outright that Apple can’t collect its commissions.</p><p><blockquote>虽然Gonzalez Rogers表示，苹果不能再禁止开发者绕过App Store的应用内购买系统，将用户指向网络来完成交易，但法官并没有明确表示苹果不能收取佣金。</blockquote></p><p> That has led some observers to believe that Apple could still take its cut of revenue via other means, but lawyers and analysts say doing so poses logistical hurdles and risks political blowback.</p><p><blockquote>这导致一些观察人士认为，苹果仍可以通过其他方式获得收入分成，但律师和分析师表示，这样做会造成后勤障碍并面临政治反弹的风险。</blockquote></p><p> Paul Gallant, an analyst at Cowen &amp; Co., has said Apple would want to put off changing App Store rules “because things could get messy if developers get to do workarounds starting in December.” Gallant said in a research note last month that Apple has a good chance of winning a stay at the Ninth Circuit.</p><p><blockquote>Cowen&amp;Co.分析师保罗·加兰特(Paul Gallant)表示，苹果希望推迟改变App Store规则，“因为如果开发者从12月开始采取变通办法，事情可能会变得混乱”。格兰特上个月在一份研究报告中表示，苹果很有可能赢得第九巡回法院的席位。</blockquote></p><p> “That would prevent developers from using non-Apple payment mechanisms (and avoiding the 30% commission) until at least late 2022,” he wrote.</p><p><blockquote>“这将阻止开发商至少在2022年底之前使用非苹果支付机制（并避免30%的佣金），”他写道。</blockquote></p><p> Before the September ruling, Apple announced two App Store changes in settlements with small U.S. developers and the Japan Federal Trade Commission. Both concessions are similar to the court’s injunction.</p><p><blockquote>在9月的裁决之前，苹果在与美国小型开发商和日本联邦贸易委员会的和解中宣布了两项应用商店变更。这两项让步都类似于法院的禁令。</blockquote></p><p> Apple is letting developers directly communicate with users about alternative payment methods, and next year it will begin allowing so-called “reader” apps -- those that deal with media like video, photos, and news -- to point users to the web to subscribe, bypassing Apple’s fees. The company highlighted those changes in Friday’s filing.</p><p><blockquote>苹果允许开发者直接与用户就替代支付方式进行沟通，明年它将开始允许所谓的“阅读器”应用程序——那些处理视频、照片和新闻等媒体的应用程序——将用户指向网络进行订阅，绕过苹果的费用。该公司在周五的文件中强调了这些变化。</blockquote></p><p> The case is Epic Games Inc. v. Apple Inc., 20-cv-05640, U.S. District Court, Northern District of California (San Francisco).</p><p><blockquote>该案是Epic Games Inc.诉苹果公司，20-cv-05640，美国加州北区地方法院。</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Seeks to Delay Ruling Loosening Its Grip on App Store<blockquote>苹果寻求推迟放松对App Store控制的裁决</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\">\nApple Seeks to Delay Ruling Loosening Its Grip on App Store<blockquote>苹果寻求推迟放松对App Store控制的裁决</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-10-09 09:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Apple Inc. is angling to delay making the most significant change to its App Store business model since the platform was launched in 2008, an overhaul that could cost the tech giant a few billion dollars annually.</p><p><blockquote>（彭博社）-苹果公司正试图推迟对其应用商店商业模式进行自2008年推出该平台以来最重大的变革，这一改革可能会使这家科技巨头每年损失数十亿美元。</blockquote></p><p> The iPhone maker gave notice Friday that will appeal a judge’s ruling in its fight with Epic Games Inc. ordering the Cupertino, California-based company to stop blocking developers from letting users complete in-app purchases on the web. It also asked the judge to put her Dec. 9 deadline for App Store rule changes on hold during the appeal, which if allowed could keep business as usual for Apple for at least a year.</p><p><blockquote>这家iPhone制造商周五发出通知，将对法官在与Epic Games Inc.的斗争中的裁决提出上诉，该裁决命令这家总部位于加利福尼亚州库比蒂诺的公司停止阻止开发者让用户在网络上完成应用内购买。它还要求法官在上诉期间暂停12月9日修改App Store规则的最后期限，如果获得允许，苹果的业务至少可以照常运行一年。</blockquote></p><p> The Sept. 10 ruling largely vindicated Apple’s business model that charges commissions on developers for App Store transactions, but the judge said Apple must allow direct communication between users and app makers and permit links to the web to complete transactions.</p><p><blockquote>9月10日的裁决在很大程度上证明了苹果向开发者收取App Store交易佣金的商业模式是正确的，但法官表示，苹果必须允许用户和应用程序制造商之间的直接沟通，并允许链接到网络来完成交易。</blockquote></p><p> Bloomberg Intelligence has said that pressure on Apple to lower its commissions, which currently run as high as 30%, could squeeze revenue by $2 billion to $4 billion in a worst-case scenario.</p><p><blockquote>彭博资讯表示，苹果面临降低佣金的压力（目前佣金高达30%），在最坏的情况下，收入可能会减少20亿至40亿美元。</blockquote></p><p> Apple said in its filing that it wants to “maintain the status quo” as “there’s no reason to expend resources” on App Store changes during the appeals process. It also argued there could be “unintended downstream consequences for consumers and the iOS platform” if the judge’s order goes into effect Dec. 9. A postponement would give the company time to address concerns in a way that could potentially do away with the need to let developers allow consumers to make web purchases, Apple said.</p><p><blockquote>苹果在提交的文件中表示，它希望“维持现状”，因为在上诉过程中“没有理由花费资源”来改变App Store。它还认为，如果法官的命令于12月9日生效，可能会“对消费者和iOS平台产生意想不到的下游后果”。苹果表示，推迟将使公司有时间解决问题，从而有可能消除开发商允许消费者进行网上购物的需要。</blockquote></p><p> “Apple is working hard to address these difficult issues in a changing world, enhancing information flow without compromising the consumer experience,” the company said.</p><p><blockquote>该公司表示：“苹果正在努力解决不断变化的世界中的这些难题，在不影响消费者体验的情况下增强信息流。”</blockquote></p><p> A hearing on Apple’s stay request has been set for Nov. 16, but the company said in a briefing it’s seeking to move the proceeding to Nov. 2. If U.S. District Judge Yvonne Gonzalez Rogers refuses to grant the stay, Apple said, the company could go to the Ninth Circuit Court of Appeals.</p><p><blockquote>关于苹果居留请求的听证会定于11月16日举行，但该公司在一份简报中表示，正在寻求将诉讼程序推迟到11月2日。苹果表示，如果美国地区法官Yvonne Gonzalez Rogers拒绝批准暂缓执行，该公司可能会向第九巡回上诉法院提起诉讼。</blockquote></p><p> When the ruling came out, following a three-week trial in May, Apple hailed it as a victory because the judge didn’t find that the company violated federal antitrust law. Tim Sweeney, Epic’s founder and chief executive officer, said in a tweet “the ruling isn’t a win for developers or for consumers” and his company promptly filed notice that it will appeal.</p><p><blockquote>经过5月份为期三周的审判，当裁决出来时，苹果称赞这是一次胜利，因为法官没有发现该公司违反了联邦反垄断法。Epic创始人兼首席执行官蒂姆·斯威尼(Tim Sweeney)在一条推文中表示，“这一裁决对开发商或消费者来说都不是胜利”，他的公司立即提交了将上诉的通知。</blockquote></p><p> Epic declined to comment on Apple’s appeal Friday but Sweeney tweeted an image of Agent Peely, a banana action figure in Epic’s popular battle-royale game Fortnite who briefly became a source of controversy in the trial.</p><p><blockquote>Epic周五拒绝对苹果的上诉发表评论，但Sweeney在推特上发布了一张特工Peely的照片，这是Epic广受欢迎的皇家战役游戏《堡垒之夜》中的香蕉动作人偶，曾短暂成为审判中争议的来源。</blockquote></p><p> Apple has announced that it plans to keep Fortnite off of the App Store until appeals are exhausted, a process that could take as long as five years if the fight goes all the way to the U.S. Supreme Court.</p><p><blockquote>苹果宣布，计划在上诉用尽之前将《堡垒之夜》从App Store中删除，如果这场斗争一直打到美国最高法院，这一过程可能需要长达五年的时间。</blockquote></p><p> While Gonzalez Rogers said Apple can no longer ban developers from pointing users to the web to complete transactions -- bypassing the App Store’s in-app-purchase system -- the judge didn’t state outright that Apple can’t collect its commissions.</p><p><blockquote>虽然Gonzalez Rogers表示，苹果不能再禁止开发者绕过App Store的应用内购买系统，将用户指向网络来完成交易，但法官并没有明确表示苹果不能收取佣金。</blockquote></p><p> That has led some observers to believe that Apple could still take its cut of revenue via other means, but lawyers and analysts say doing so poses logistical hurdles and risks political blowback.</p><p><blockquote>这导致一些观察人士认为，苹果仍可以通过其他方式获得收入分成，但律师和分析师表示，这样做会造成后勤障碍并面临政治反弹的风险。</blockquote></p><p> Paul Gallant, an analyst at Cowen &amp; Co., has said Apple would want to put off changing App Store rules “because things could get messy if developers get to do workarounds starting in December.” Gallant said in a research note last month that Apple has a good chance of winning a stay at the Ninth Circuit.</p><p><blockquote>Cowen&amp;Co.分析师保罗·加兰特(Paul Gallant)表示，苹果希望推迟改变App Store规则，“因为如果开发者从12月开始采取变通办法，事情可能会变得混乱”。格兰特上个月在一份研究报告中表示，苹果很有可能赢得第九巡回法院的席位。</blockquote></p><p> “That would prevent developers from using non-Apple payment mechanisms (and avoiding the 30% commission) until at least late 2022,” he wrote.</p><p><blockquote>“这将阻止开发商至少在2022年底之前使用非苹果支付机制（并避免30%的佣金），”他写道。</blockquote></p><p> Before the September ruling, Apple announced two App Store changes in settlements with small U.S. developers and the Japan Federal Trade Commission. Both concessions are similar to the court’s injunction.</p><p><blockquote>在9月的裁决之前，苹果在与美国小型开发商和日本联邦贸易委员会的和解中宣布了两项应用商店变更。这两项让步都类似于法院的禁令。</blockquote></p><p> Apple is letting developers directly communicate with users about alternative payment methods, and next year it will begin allowing so-called “reader” apps -- those that deal with media like video, photos, and news -- to point users to the web to subscribe, bypassing Apple’s fees. The company highlighted those changes in Friday’s filing.</p><p><blockquote>苹果允许开发者直接与用户就替代支付方式进行沟通，明年它将开始允许所谓的“阅读器”应用程序——那些处理视频、照片和新闻等媒体的应用程序——将用户指向网络进行订阅，绕过苹果的费用。该公司在周五的文件中强调了这些变化。</blockquote></p><p> The case is Epic Games Inc. v. Apple Inc., 20-cv-05640, U.S. District Court, Northern District of California (San Francisco).</p><p><blockquote>该案是Epic Games Inc.诉苹果公司，20-cv-05640，美国加州北区地方法院。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/apple-seeks-delay-ruling-loosening-230855311.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://finance.yahoo.com/news/apple-seeks-delay-ruling-loosening-230855311.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198772378","content_text":"(Bloomberg) -- Apple Inc. is angling to delay making the most significant change to its App Store business model since the platform was launched in 2008, an overhaul that could cost the tech giant a few billion dollars annually.\nThe iPhone maker gave notice Friday that will appeal a judge’s ruling in its fight with Epic Games Inc. ordering the Cupertino, California-based company to stop blocking developers from letting users complete in-app purchases on the web. It also asked the judge to put her Dec. 9 deadline for App Store rule changes on hold during the appeal, which if allowed could keep business as usual for Apple for at least a year.\nThe Sept. 10 ruling largely vindicated Apple’s business model that charges commissions on developers for App Store transactions, but the judge said Apple must allow direct communication between users and app makers and permit links to the web to complete transactions.\nBloomberg Intelligence has said that pressure on Apple to lower its commissions, which currently run as high as 30%, could squeeze revenue by $2 billion to $4 billion in a worst-case scenario.\nApple said in its filing that it wants to “maintain the status quo” as “there’s no reason to expend resources” on App Store changes during the appeals process. It also argued there could be “unintended downstream consequences for consumers and the iOS platform” if the judge’s order goes into effect Dec. 9. A postponement would give the company time to address concerns in a way that could potentially do away with the need to let developers allow consumers to make web purchases, Apple said.\n“Apple is working hard to address these difficult issues in a changing world, enhancing information flow without compromising the consumer experience,” the company said.\nA hearing on Apple’s stay request has been set for Nov. 16, but the company said in a briefing it’s seeking to move the proceeding to Nov. 2. If U.S. District Judge Yvonne Gonzalez Rogers refuses to grant the stay, Apple said, the company could go to the Ninth Circuit Court of Appeals.\nWhen the ruling came out, following a three-week trial in May, Apple hailed it as a victory because the judge didn’t find that the company violated federal antitrust law. Tim Sweeney, Epic’s founder and chief executive officer, said in a tweet “the ruling isn’t a win for developers or for consumers” and his company promptly filed notice that it will appeal.\nEpic declined to comment on Apple’s appeal Friday but Sweeney tweeted an image of Agent Peely, a banana action figure in Epic’s popular battle-royale game Fortnite who briefly became a source of controversy in the trial.\nApple has announced that it plans to keep Fortnite off of the App Store until appeals are exhausted, a process that could take as long as five years if the fight goes all the way to the U.S. Supreme Court.\nWhile Gonzalez Rogers said Apple can no longer ban developers from pointing users to the web to complete transactions -- bypassing the App Store’s in-app-purchase system -- the judge didn’t state outright that Apple can’t collect its commissions.\nThat has led some observers to believe that Apple could still take its cut of revenue via other means, but lawyers and analysts say doing so poses logistical hurdles and risks political blowback.\nPaul Gallant, an analyst at Cowen & Co., has said Apple would want to put off changing App Store rules “because things could get messy if developers get to do workarounds starting in December.” Gallant said in a research note last month that Apple has a good chance of winning a stay at the Ninth Circuit.\n“That would prevent developers from using non-Apple payment mechanisms (and avoiding the 30% commission) until at least late 2022,” he wrote.\nBefore the September ruling, Apple announced two App Store changes in settlements with small U.S. developers and the Japan Federal Trade Commission. Both concessions are similar to the court’s injunction.\nApple is letting developers directly communicate with users about alternative payment methods, and next year it will begin allowing so-called “reader” apps -- those that deal with media like video, photos, and news -- to point users to the web to subscribe, bypassing Apple’s fees. The company highlighted those changes in Friday’s filing.\nThe case is Epic Games Inc. v. Apple Inc., 20-cv-05640, U.S. District Court, Northern District of California (San Francisco).","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690069482,"gmtCreate":1639614228200,"gmtModify":1639614228288,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Haha those who bought it will disagree","listText":"Haha those who bought it will disagree","text":"Haha those who bought it will disagree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/690069482","repostId":"1143795954","repostType":4,"isVote":1,"tweetType":1,"viewCount":801,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":844528760,"gmtCreate":1636443690243,"gmtModify":1636444052002,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/844528760","repostId":"2182447772","repostType":4,"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":823087693,"gmtCreate":1633565607896,"gmtModify":1633565608020,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/823087693","repostId":"1106545903","repostType":4,"repost":{"id":"1106545903","kind":"news","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":1633563192,"share":"https://www.laohu8.com/m/news/1106545903?lang=zh_CN&edition=full","pubTime":"2021-10-07 07:33","market":"us","language":"en","title":"What to Expect From Tesla's Annual Shareholder Meeting Thursday<blockquote>对特斯拉周四的年度股东大会有何期待</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106545903","media":"Benzinga","summary":"Tesla, Inc. is scheduled to hold its annual shareholder meeting Thursday.The Venue:This time around, the annual affair will be presented from the company's Giga Austin at 5:30 p.m. ET in a virtual-only format.A change in venue was communicated by the company on Sept. 27 along with other updates to the original announcement made on Aug. 26. The company had earlier planned to present the meeting from its flagship Fremont Giga.The Agenda:Tesla has four proposals to be discussed at the meeting. Thes","content":"<p><b>Tesla, Inc.</b>&nbsp;is scheduled to hold its annual shareholder meeting Thursday.</p><p><blockquote><b>特斯拉公司。</b>定于周四举行年度股东大会。</blockquote></p><p> <b>The Venue:</b>This time around, the annual affair will be presented from the company's Giga Austin at 5:30 p.m. ET&nbsp;in a virtual-only format.</p><p><blockquote><b>地点：</b>这一次，一年一度的活动将于下午5:30在该公司的Giga Austin举行。ET以纯虚拟格式。</blockquote></p><p> A change in venue was communicated by the company on Sept. 27 along with other updates to the original announcement made on Aug. 26. The company had earlier planned to present the meeting from its flagship Fremont Giga.</p><p><blockquote>该公司于9月27日宣布了地点变更，并对8月26日发布的原始公告进行了其他更新。该公司早些时候计划在其旗舰Fremont Giga举办这次会议。</blockquote></p><p> <b>The Agenda:</b>Tesla has&nbsp;four proposals to be discussed at the meeting. These include:</p><p><blockquote><b>议程：</b>特斯拉有四项提案要在会上讨论。其中包括：</blockquote></p><p> - Election of two Class II directors to serve for a term of three years</p><p><blockquote>-选举两名第二类董事，任期三年</blockquote></p><p> - amendments to certificate of incorporation to reduce director terms to two years</p><p><blockquote>-修订公司注册证书，将董事任期减至两年</blockquote></p><p> - amendments to certificate of incorporation and bylaws to eliminate applicable supermajority voting requirements</p><p><blockquote>-修订公司注册证书及章程，以取消适用的绝对多数投票规定</blockquote></p><p> - ratification of the appointment of PricewaterhouseCoopers LLP as Tesla's independent registered public accounting firm for the fiscal year ending December&nbsp;2021</p><p><blockquote>-批准委任罗兵咸永道会计师事务所为截至2021年12月止财政年度的特斯拉独立注册公共会计师事务所</blockquote></p><p> A supermajority voting provision requires certain categories of bylaws to be approved by the affirmative vote of at least 66%, or two-thirds of the total voting power of all outstanding shares of Tesla common stock. The company is proposing to eliminate this.</p><p><blockquote>绝对多数投票条款要求某些类别的章程必须获得至少66%（即特斯拉所有已发行普通股总投票权的三分之二）的赞成票批准。该公司提议消除这一点。</blockquote></p><p> Tesla has also put up for re-election board members&nbsp;<b>James Murdoch,</b>son of medial mogul&nbsp;<b>Rupert Murdoch,</b>and&nbsp;<b>Kimbal Musk,</b>the brother of CEO&nbsp;<b>Elon Musk</b>.</p><p><blockquote>特斯拉还竞选连任董事会成员<b>詹姆斯·默多克,</b>媒体大亨之子<b>鲁珀特·默多克,</b>和<b>金巴尔·马斯克,</b>CEO的兄弟<b>埃隆·马斯克</b>.</blockquote></p><p> Proxy advisory firm Institutional Shareholder Services has recommended rejecting the two directors, citing its view that they have been excessively compensated.</p><p><blockquote>代理咨询公司机构股东服务公司建议拒绝这两名董事，理由是他们的薪酬过高。</blockquote></p><p> <b>The Shareholder Proposals:</b>Shareholders have put forward five proposals, including the reduction of a director's term to one year, additional reporting on diversity and inclusion efforts, reporting on employee arbitration, assigning responsibility for strategic oversight of human capital management to an independent board-level committee and additional reporting on human rights.</p><p><blockquote><b>股东提案：</b>股东提出了五项提案，包括将董事任期缩短至一年、增加关于多元化和包容性努力的报告、关于员工仲裁的报告、将人力资本管理的战略监督责任分配给一个独立的董事会级委员会以及增加关于人权的报告。</blockquote></p><p> Tesla has accepted only the first proposal for discussion and rejected the other four,which pertain&nbsp;primarily to diversity and inclusion. The company's rejection assumes importance because of the $137 million in&nbsp;damages&nbsp;a jury ordered Tesla to pay for alleged racism in workplace.</p><p><blockquote>特斯拉只接受了第一项讨论提案，拒绝了其他四项提案，这些提案主要涉及多样性和包容性。该公司的拒绝具有重要意义，因为陪审团命令特斯拉为涉嫌工作场所种族主义支付1.37亿美元的赔偿金。</blockquote></p><p> \"The virtual meeting will feature live audio webcasts, plus the option for stockholders to submit votes and written comments and questions on meeting agenda items,\" Tesla said in definitive proxy statement filed in late September.</p><p><blockquote>特斯拉在9月底提交的最终委托书中表示：“虚拟会议将提供现场音频网络广播，股东还可以选择就会议议程项目提交投票以及书面评论和问题。”</blockquote></p><p> <b>Investor&nbsp;Questions That Could Be Addressed:</b>Tesla has invited investors to ask and upvote questions that they would like addressed.</p><p><blockquote><b>可以解决的投资者问题：</b>特斯拉邀请投资者提出并投票支持他们希望解决的问题。</blockquote></p><p> About 3,265 questions have been posted on the page so far. Some of the questions with the highest upvotes are the&nbsp;Cybertruck&nbsp;production start timeline and the rate of ramp; a&nbsp;potential stock split; the&nbsp;possibility of the company's proprietary 4680 battery cell launching this year;&nbsp;dividend plans; and a quarterly update on the energy business.</p><p><blockquote>到目前为止，该页面上已经发布了大约3265个问题。赞成票最高的一些问题是Cybertruck生产开始时间表和爬坡率；潜在的股票分割；公司专有4680电芯今年上市的可能性；股息计划；以及能源业务的季度更新。</blockquote></p><p> <b>New Headquarters On The Horizon?</b>Given that the venue was shifted to Giga Austin, tongues have begun wagging about the company potentially shifting its headquarters to Austin.</p><p><blockquote><b>地平线上的新总部？</b>鉴于地点被转移到Giga Austin，人们开始谈论该公司可能将总部转移到奥斯汀。</blockquote></p><p> Citing Musk spending more time at Giga Austin, CFO<b>Zachary Kirkhorn</b>buying a house in Austin and the company datelining its last two press releases as from Austin, Texas, Bloomberg said a shift in corporate headquarters to Texas could be a possibility.</p><p><blockquote>首席财务官称马斯克在Giga Austin花费了更多时间<b>扎卡里·柯克霍恩</b>彭博社在奥斯汀买了一栋房子，该公司最近两份新闻稿的日期都是来自德克萨斯州奥斯汀，他表示，公司总部有可能迁至德克萨斯州。</blockquote></p><p> <b>TSLA Price Action:</b>Tesla shares gained 0.28% Wednesday, closing at $782.75.</p><p><blockquote><b>特斯拉价格走势：</b>特斯拉股价周三上涨0.28%，收于782.75美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/140145d2ab6288e5002f3c3b931a0805\" tg-width=\"750\" tg-height=\"1334\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nWhat to Expect From Tesla's Annual Shareholder Meeting Thursday<blockquote>对特斯拉周四的年度股东大会有何期待</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\">2021-10-07 07:33</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Tesla, Inc.</b>&nbsp;is scheduled to hold its annual shareholder meeting Thursday.</p><p><blockquote><b>特斯拉公司。</b>定于周四举行年度股东大会。</blockquote></p><p> <b>The Venue:</b>This time around, the annual affair will be presented from the company's Giga Austin at 5:30 p.m. ET&nbsp;in a virtual-only format.</p><p><blockquote><b>地点：</b>这一次，一年一度的活动将于下午5:30在该公司的Giga Austin举行。ET以纯虚拟格式。</blockquote></p><p> A change in venue was communicated by the company on Sept. 27 along with other updates to the original announcement made on Aug. 26. The company had earlier planned to present the meeting from its flagship Fremont Giga.</p><p><blockquote>该公司于9月27日宣布了地点变更，并对8月26日发布的原始公告进行了其他更新。该公司早些时候计划在其旗舰Fremont Giga举办这次会议。</blockquote></p><p> <b>The Agenda:</b>Tesla has&nbsp;four proposals to be discussed at the meeting. These include:</p><p><blockquote><b>议程：</b>特斯拉有四项提案要在会上讨论。其中包括：</blockquote></p><p> - Election of two Class II directors to serve for a term of three years</p><p><blockquote>-选举两名第二类董事，任期三年</blockquote></p><p> - amendments to certificate of incorporation to reduce director terms to two years</p><p><blockquote>-修订公司注册证书，将董事任期减至两年</blockquote></p><p> - amendments to certificate of incorporation and bylaws to eliminate applicable supermajority voting requirements</p><p><blockquote>-修订公司注册证书及章程，以取消适用的绝对多数投票规定</blockquote></p><p> - ratification of the appointment of PricewaterhouseCoopers LLP as Tesla's independent registered public accounting firm for the fiscal year ending December&nbsp;2021</p><p><blockquote>-批准委任罗兵咸永道会计师事务所为截至2021年12月止财政年度的特斯拉独立注册公共会计师事务所</blockquote></p><p> A supermajority voting provision requires certain categories of bylaws to be approved by the affirmative vote of at least 66%, or two-thirds of the total voting power of all outstanding shares of Tesla common stock. The company is proposing to eliminate this.</p><p><blockquote>绝对多数投票条款要求某些类别的章程必须获得至少66%（即特斯拉所有已发行普通股总投票权的三分之二）的赞成票批准。该公司提议消除这一点。</blockquote></p><p> Tesla has also put up for re-election board members&nbsp;<b>James Murdoch,</b>son of medial mogul&nbsp;<b>Rupert Murdoch,</b>and&nbsp;<b>Kimbal Musk,</b>the brother of CEO&nbsp;<b>Elon Musk</b>.</p><p><blockquote>特斯拉还竞选连任董事会成员<b>詹姆斯·默多克,</b>媒体大亨之子<b>鲁珀特·默多克,</b>和<b>金巴尔·马斯克,</b>CEO的兄弟<b>埃隆·马斯克</b>.</blockquote></p><p> Proxy advisory firm Institutional Shareholder Services has recommended rejecting the two directors, citing its view that they have been excessively compensated.</p><p><blockquote>代理咨询公司机构股东服务公司建议拒绝这两名董事，理由是他们的薪酬过高。</blockquote></p><p> <b>The Shareholder Proposals:</b>Shareholders have put forward five proposals, including the reduction of a director's term to one year, additional reporting on diversity and inclusion efforts, reporting on employee arbitration, assigning responsibility for strategic oversight of human capital management to an independent board-level committee and additional reporting on human rights.</p><p><blockquote><b>股东提案：</b>股东提出了五项提案，包括将董事任期缩短至一年、增加关于多元化和包容性努力的报告、关于员工仲裁的报告、将人力资本管理的战略监督责任分配给一个独立的董事会级委员会以及增加关于人权的报告。</blockquote></p><p> Tesla has accepted only the first proposal for discussion and rejected the other four,which pertain&nbsp;primarily to diversity and inclusion. The company's rejection assumes importance because of the $137 million in&nbsp;damages&nbsp;a jury ordered Tesla to pay for alleged racism in workplace.</p><p><blockquote>特斯拉只接受了第一项讨论提案，拒绝了其他四项提案，这些提案主要涉及多样性和包容性。该公司的拒绝具有重要意义，因为陪审团命令特斯拉为涉嫌工作场所种族主义支付1.37亿美元的赔偿金。</blockquote></p><p> \"The virtual meeting will feature live audio webcasts, plus the option for stockholders to submit votes and written comments and questions on meeting agenda items,\" Tesla said in definitive proxy statement filed in late September.</p><p><blockquote>特斯拉在9月底提交的最终委托书中表示：“虚拟会议将提供现场音频网络广播，股东还可以选择就会议议程项目提交投票以及书面评论和问题。”</blockquote></p><p> <b>Investor&nbsp;Questions That Could Be Addressed:</b>Tesla has invited investors to ask and upvote questions that they would like addressed.</p><p><blockquote><b>可以解决的投资者问题：</b>特斯拉邀请投资者提出并投票支持他们希望解决的问题。</blockquote></p><p> About 3,265 questions have been posted on the page so far. Some of the questions with the highest upvotes are the&nbsp;Cybertruck&nbsp;production start timeline and the rate of ramp; a&nbsp;potential stock split; the&nbsp;possibility of the company's proprietary 4680 battery cell launching this year;&nbsp;dividend plans; and a quarterly update on the energy business.</p><p><blockquote>到目前为止，该页面上已经发布了大约3265个问题。赞成票最高的一些问题是Cybertruck生产开始时间表和爬坡率；潜在的股票分割；公司专有4680电芯今年上市的可能性；股息计划；以及能源业务的季度更新。</blockquote></p><p> <b>New Headquarters On The Horizon?</b>Given that the venue was shifted to Giga Austin, tongues have begun wagging about the company potentially shifting its headquarters to Austin.</p><p><blockquote><b>地平线上的新总部？</b>鉴于地点被转移到Giga Austin，人们开始谈论该公司可能将总部转移到奥斯汀。</blockquote></p><p> Citing Musk spending more time at Giga Austin, CFO<b>Zachary Kirkhorn</b>buying a house in Austin and the company datelining its last two press releases as from Austin, Texas, Bloomberg said a shift in corporate headquarters to Texas could be a possibility.</p><p><blockquote>首席财务官称马斯克在Giga Austin花费了更多时间<b>扎卡里·柯克霍恩</b>彭博社在奥斯汀买了一栋房子，该公司最近两份新闻稿的日期都是来自德克萨斯州奥斯汀，他表示，公司总部有可能迁至德克萨斯州。</blockquote></p><p> <b>TSLA Price Action:</b>Tesla shares gained 0.28% Wednesday, closing at $782.75.</p><p><blockquote><b>特斯拉价格走势：</b>特斯拉股价周三上涨0.28%，收于782.75美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/140145d2ab6288e5002f3c3b931a0805\" tg-width=\"750\" tg-height=\"1334\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106545903","content_text":"Tesla, Inc. is scheduled to hold its annual shareholder meeting Thursday.\nThe Venue:This time around, the annual affair will be presented from the company's Giga Austin at 5:30 p.m. ET in a virtual-only format.\nA change in venue was communicated by the company on Sept. 27 along with other updates to the original announcement made on Aug. 26. The company had earlier planned to present the meeting from its flagship Fremont Giga.\nThe Agenda:Tesla has four proposals to be discussed at the meeting. These include:\n- Election of two Class II directors to serve for a term of three years\n- amendments to certificate of incorporation to reduce director terms to two years\n- amendments to certificate of incorporation and bylaws to eliminate applicable supermajority voting requirements\n- ratification of the appointment of PricewaterhouseCoopers LLP as Tesla's independent registered public accounting firm for the fiscal year ending December 2021\nA supermajority voting provision requires certain categories of bylaws to be approved by the affirmative vote of at least 66%, or two-thirds of the total voting power of all outstanding shares of Tesla common stock. The company is proposing to eliminate this.\nTesla has also put up for re-election board members James Murdoch,son of medial mogul Rupert Murdoch,and Kimbal Musk,the brother of CEO Elon Musk.\nProxy advisory firm Institutional Shareholder Services has recommended rejecting the two directors, citing its view that they have been excessively compensated.\nThe Shareholder Proposals:Shareholders have put forward five proposals, including the reduction of a director's term to one year, additional reporting on diversity and inclusion efforts, reporting on employee arbitration, assigning responsibility for strategic oversight of human capital management to an independent board-level committee and additional reporting on human rights.\nTesla has accepted only the first proposal for discussion and rejected the other four,which pertain primarily to diversity and inclusion. The company's rejection assumes importance because of the $137 million in damages a jury ordered Tesla to pay for alleged racism in workplace.\n\"The virtual meeting will feature live audio webcasts, plus the option for stockholders to submit votes and written comments and questions on meeting agenda items,\" Tesla said in definitive proxy statement filed in late September.\nInvestor Questions That Could Be Addressed:Tesla has invited investors to ask and upvote questions that they would like addressed.\nAbout 3,265 questions have been posted on the page so far. Some of the questions with the highest upvotes are the Cybertruck production start timeline and the rate of ramp; a potential stock split; the possibility of the company's proprietary 4680 battery cell launching this year; dividend plans; and a quarterly update on the energy business.\nNew Headquarters On The Horizon?Given that the venue was shifted to Giga Austin, tongues have begun wagging about the company potentially shifting its headquarters to Austin.\nCiting Musk spending more time at Giga Austin, CFOZachary Kirkhornbuying a house in Austin and the company datelining its last two press releases as from Austin, Texas, Bloomberg said a shift in corporate headquarters to Texas could be a possibility.\nTSLA Price Action:Tesla shares gained 0.28% Wednesday, closing at $782.75.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":898643442,"gmtCreate":1628496296786,"gmtModify":1633746682343,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Thanks for the info","listText":"Thanks for the info","text":"Thanks for the info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898643442","repostId":"2157492988","repostType":4,"isVote":1,"tweetType":1,"viewCount":375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":603611611,"gmtCreate":1638404820472,"gmtModify":1638404820611,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Haiz","listText":"Haiz","text":"Haiz","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/603611611","repostId":"1102558803","repostType":4,"isVote":1,"tweetType":1,"viewCount":352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872253347,"gmtCreate":1637540849977,"gmtModify":1637540849977,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/872253347","repostId":"1116255034","repostType":4,"isVote":1,"tweetType":1,"viewCount":692,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":885916939,"gmtCreate":1631750848821,"gmtModify":1631885195330,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/885916939","repostId":"2167592712","repostType":4,"isVote":1,"tweetType":1,"viewCount":263,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832664760,"gmtCreate":1629623345150,"gmtModify":1631889902137,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/832664760","repostId":"1156125276","repostType":4,"repost":{"id":"1156125276","kind":"news","pubTimestamp":1629603613,"share":"https://www.laohu8.com/m/news/1156125276?lang=zh_CN&edition=full","pubTime":"2021-08-22 11:40","market":"us","language":"en","title":"Who is Cathie Wood? What you should know Ark Invest's ace stock picker<blockquote>凯西·伍德是谁？您应该了解的Ark Invest的王牌选股者</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1156125276","media":"MoneyWise","summary":"Move over, Warren Buffett. There’s a new oracle in town.\nLast year, Cathie Wood, founder of asset ma","content":"<p>Move over, Warren Buffett. There’s a new oracle in town.</p><p><blockquote>让开，沃伦·巴菲特。镇上有个新的神谕。</blockquote></p><p> Last year, Cathie Wood, founder of asset management firm Ark Invest, established herself as a master of the modern exchange-traded fund (ETF). In 2020, her flagship Ark Innovation ETF (ARKK) posted eye-watering gains of 153%, easily crushing the return of the overall stock market.</p><p><blockquote>去年，资产管理公司Ark Invest的创始人Cathie Wood确立了自己现代交易所交易基金（ETF）大师的地位。2020年，她的旗舰方舟创新ETF（ARKK）创下了153%的惊人涨幅，轻松碾压了整体股市的回报。</blockquote></p><p> Over the past five years, ARKK has averaged an annual return of greater than 40%.</p><p><blockquote>过去五年，ARKK的年均回报率超过40%。</blockquote></p><p> While ARKK and another of the company’s funds, Ark Genomic Revolution ETF (ARKG), have struggled this year, money from investors continues to pour in and CEOs like Elon Musk want to be on her podcast. You may even have Ark fundsin your portfolio.</p><p><blockquote>尽管ARKK和该公司的另一只基金Ark Genomic Revolution ETF(ARKG)今年陷入困境，但投资者的资金仍在继续涌入，埃隆·马斯克(Elon Musk)等首席执行官希望出现在她的播客上。您的投资组合中甚至可能有方舟基金。</blockquote></p><p> Despite the choppy road Wood's offerings have bumped along in the past few months, investors continue to hold on. Here's why.</p><p><blockquote>尽管过去几个月伍德的发行道路坎坷，但投资者仍在坚持。原因如下。</blockquote></p><p> <b>Just who is Cathie Wood?</b></p><p><blockquote><b>凯西·伍德到底是谁？</b></blockquote></p><p> When she founded Ark Invest in 2014, Wood had already amassed 40 years of experience researching and investing in innovation. She managed over $5 billion in assets at AllianceBernstein and over $800 million at hedge fund Tupelo Capital Management, which she also founded.</p><p><blockquote>当她在2014年创立Ark Invest时，伍德已经积累了40年的创新研究和投资经验。她在AllianceBernstein管理着超过50亿美元的资产，在她也创立的对冲基金Tupelo Capital Management管理着超过8亿美元的资产。</blockquote></p><p> Wood launched Ark as a means of packaging active stock portfolios in an ETF format.</p><p><blockquote>Wood推出Ark是为了以ETF格式包装主动股票投资组合。</blockquote></p><p> By concentrating on innovative, disruptive technologies, Arkinvests in companieswith the potential for both explosive short-term growth and long-term relevance. As the company’s CIO and portfolio manager, the final call on Ark’s investment decisions is Wood’s to make.</p><p><blockquote>通过专注于创新、颠覆性技术，ARK投资于具有爆炸性短期增长和长期相关性潜力的公司。作为公司的首席信息官和投资组合经理，Ark投资决策的最终看涨期权由伍德做出。</blockquote></p><p> Wood has received plenty of recognition for her investment performance in recent years.</p><p><blockquote>伍德近年来的投资表现得到了广泛认可。</blockquote></p><p> She was a featured speaker at the World Economic Forum (China) in 2016 and 2017. In 2018, she was selected by Bloomberg as one of the 50 people defining global business. In 2019,<i>Fortune</i>chose Wood to be one of the experts included in the publication’s annual<i>Fortune Investors Guide</i>.</p><p><blockquote>她是2016年和2017年世界经济论坛（中国）的专题演讲人。2018年，她被彭博选为定义全球商业的50人之一。2019年，<i>财富</i>选择伍德作为该出版物年度报告中的专家之一<i>财富投资者指南</i>.</blockquote></p><p> As of Aug. 11,<i>Forbes</i>estimated Wood’s net worth to be $400 million.</p><p><blockquote>截至8月11日，<i>福布斯</i>估计伍德的净资产为4亿美元。</blockquote></p><p> <b>Investment philosophy and performance</b></p><p><blockquote><b>投资理念与业绩</b></blockquote></p><p> Ark Invest describes its sole focus as “disruptive innovation,” which allows the firm toinvest in companieswhose products and services are expected to meet the needs of a planet that’s barrelling from crisis to crisis.</p><p><blockquote>Ark Invest将其唯一的关注点描述为“颠覆性创新”，这使该公司能够投资于其产品和服务有望满足不断经历危机的地球需求的公司。</blockquote></p><p> Ark’s big bet is that technology is the most effective solution to these crises and that a disruption-first ethos is a primary path to greater returns.</p><p><blockquote>Ark的大赌注是，技术是解决这些危机的最有效解决方案，而颠覆第一的精神是获得更大回报的主要途径。</blockquote></p><p> “We’re all about finding the next big thing,” reads a quote from Wood on Ark Invest’s website. “Those hewing to the benchmarks, which are backwards looking, are not about the future. They are about what has worked. We’re all about what is going to work.”</p><p><blockquote>“我们都在寻找下一件大事，”Ark Invest网站上引用伍德的话写道。“那些坚持基准的人是向后看的，不是关于未来的。它们是关于什么是有效的。我们都是关于什么是有效的。”</blockquote></p><p> And Wood’s picks are most definitely working.</p><p><blockquote>伍德的选择肯定是有效的。</blockquote></p><p> Despite the recent sluggishness that ARKK and ARKG are experiencing, both funds have crushed the market over the past five years</p><p><blockquote>尽管ARKK和ARKG最近经历了低迷，但这两只基金在过去五年中都碾压了市场</blockquote></p><p> ARKK, which includes tech heavyweights Tesla, Zoom, Coinbase, and Shopify among others, has grown by about 450% since the summer of 2016.</p><p><blockquote>ARKK包括科技巨头特斯拉、Zoom、Coinbase和Shopify等，自2016年夏季以来已增长约450%。</blockquote></p><p> Meanwhile, ARKG, which targets technologies like molecular diagnostic and genetics, and holds companies such as virtual healthcare provider Teladoc Health and Regeneron Pharmaceuticals, is up roughly 340% over the same time period.</p><p><blockquote>与此同时，瞄准分子诊断和遗传学等技术并持有虚拟医疗保健提供商Teladoc Health和再生元制药等公司的ARKG同期股价上涨了约340%。</blockquote></p><p> <b>Recent struggles providing a buying window?</b></p><p><blockquote><b>最近的挣扎提供了一个购买窗口？</b></blockquote></p><p> Investors who purchased either ARKK or ARKG in 2021 have had little to celebrate, with the ETFs posting year-to-date declines of 9% and 15%, respectively.</p><p><blockquote>2021年购买ARKK或ARKG的投资者没什么值得庆祝的，这些ETF今年迄今分别下跌了9%和15%。</blockquote></p><p> With investors changing course from growth stocks to economic recovery plays this year, many of Ark’s tech-focused plays have seen their shares decline, dragging down the value of Ark’s ETFs.</p><p><blockquote>随着今年投资者从成长型股票转向经济复苏型股票，Ark的许多以科技为重点的股票股价下跌，拖累了ARK ETF的价值。</blockquote></p><p> It’s one of the risks of the company’s relatively narrow focus.</p><p><blockquote>这是该公司关注点相对狭窄的风险之一。</blockquote></p><p> But despite the recent weakness, investors aren’t exactly losing confidence in the Ark ETFs. In fact, they’re backing Wood with even more money, suggesting they see the dip as an attractive buying opportunity.</p><p><blockquote>但尽管最近表现疲软，投资者并没有对ARK ETF失去信心。事实上，他们用更多的资金支持木材，这表明他们将下跌视为一个有吸引力的买入机会。</blockquote></p><p> For instance, ARKK has seen nearly $5.9 billion in inflows this year, bringing its total assets under management to a whopping $22.6 billion.</p><p><blockquote>例如，ARKK今年的资金流入近59亿美元，使其管理的总资产达到226亿美元。</blockquote></p><p> <b>ETFs and beyond</b></p><p><blockquote><b>ETF及其他</b></blockquote></p><p> Purchasing Ark ETFs is easier than you think. And now might be an ideal time to do it.</p><p><blockquote>购买ARK ETF比您想象的要容易。现在可能是做这件事的理想时机。</blockquote></p><p> You can get started witha popular investing app, which offers not only ETFs, but also fractional shares. Another app allows you to build a diversified portfolio with little more than the“spare change” left over from your everyday purchases.</p><p><blockquote>你可以从一个流行的投资应用程序开始，它不仅提供ETF，还提供零碎股票。另一个应用程序允许你用日常购物剩下的“零钱”建立一个多元化的投资组合。</blockquote></p><p> With a little help from theright platform, you can invest alongside Cathie Wood and, hopefully, profit massively from her next set of big ideas.</p><p><blockquote>在theright platform的一点帮助下，你可以和Cathie Wood一起投资，并有望从她的下一组大创意中获得巨大利润。</blockquote></p><p></p>","source":"lsy1621813427262","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>Who is Cathie Wood? What you should know Ark Invest's ace stock picker<blockquote>凯西·伍德是谁？您应该了解的Ark Invest的王牌选股者</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\">\nWho is Cathie Wood? What you should know Ark Invest's ace stock picker<blockquote>凯西·伍德是谁？您应该了解的Ark Invest的王牌选股者</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MoneyWise</strong><span class=\"h-time small\">2021-08-22 11:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Move over, Warren Buffett. There’s a new oracle in town.</p><p><blockquote>让开，沃伦·巴菲特。镇上有个新的神谕。</blockquote></p><p> Last year, Cathie Wood, founder of asset management firm Ark Invest, established herself as a master of the modern exchange-traded fund (ETF). In 2020, her flagship Ark Innovation ETF (ARKK) posted eye-watering gains of 153%, easily crushing the return of the overall stock market.</p><p><blockquote>去年，资产管理公司Ark Invest的创始人Cathie Wood确立了自己现代交易所交易基金（ETF）大师的地位。2020年，她的旗舰方舟创新ETF（ARKK）创下了153%的惊人涨幅，轻松碾压了整体股市的回报。</blockquote></p><p> Over the past five years, ARKK has averaged an annual return of greater than 40%.</p><p><blockquote>过去五年，ARKK的年均回报率超过40%。</blockquote></p><p> While ARKK and another of the company’s funds, Ark Genomic Revolution ETF (ARKG), have struggled this year, money from investors continues to pour in and CEOs like Elon Musk want to be on her podcast. You may even have Ark fundsin your portfolio.</p><p><blockquote>尽管ARKK和该公司的另一只基金Ark Genomic Revolution ETF(ARKG)今年陷入困境，但投资者的资金仍在继续涌入，埃隆·马斯克(Elon Musk)等首席执行官希望出现在她的播客上。您的投资组合中甚至可能有方舟基金。</blockquote></p><p> Despite the choppy road Wood's offerings have bumped along in the past few months, investors continue to hold on. Here's why.</p><p><blockquote>尽管过去几个月伍德的发行道路坎坷，但投资者仍在坚持。原因如下。</blockquote></p><p> <b>Just who is Cathie Wood?</b></p><p><blockquote><b>凯西·伍德到底是谁？</b></blockquote></p><p> When she founded Ark Invest in 2014, Wood had already amassed 40 years of experience researching and investing in innovation. She managed over $5 billion in assets at AllianceBernstein and over $800 million at hedge fund Tupelo Capital Management, which she also founded.</p><p><blockquote>当她在2014年创立Ark Invest时，伍德已经积累了40年的创新研究和投资经验。她在AllianceBernstein管理着超过50亿美元的资产，在她也创立的对冲基金Tupelo Capital Management管理着超过8亿美元的资产。</blockquote></p><p> Wood launched Ark as a means of packaging active stock portfolios in an ETF format.</p><p><blockquote>Wood推出Ark是为了以ETF格式包装主动股票投资组合。</blockquote></p><p> By concentrating on innovative, disruptive technologies, Arkinvests in companieswith the potential for both explosive short-term growth and long-term relevance. As the company’s CIO and portfolio manager, the final call on Ark’s investment decisions is Wood’s to make.</p><p><blockquote>通过专注于创新、颠覆性技术，ARK投资于具有爆炸性短期增长和长期相关性潜力的公司。作为公司的首席信息官和投资组合经理，Ark投资决策的最终看涨期权由伍德做出。</blockquote></p><p> Wood has received plenty of recognition for her investment performance in recent years.</p><p><blockquote>伍德近年来的投资表现得到了广泛认可。</blockquote></p><p> She was a featured speaker at the World Economic Forum (China) in 2016 and 2017. In 2018, she was selected by Bloomberg as one of the 50 people defining global business. In 2019,<i>Fortune</i>chose Wood to be one of the experts included in the publication’s annual<i>Fortune Investors Guide</i>.</p><p><blockquote>她是2016年和2017年世界经济论坛（中国）的专题演讲人。2018年，她被彭博选为定义全球商业的50人之一。2019年，<i>财富</i>选择伍德作为该出版物年度报告中的专家之一<i>财富投资者指南</i>.</blockquote></p><p> As of Aug. 11,<i>Forbes</i>estimated Wood’s net worth to be $400 million.</p><p><blockquote>截至8月11日，<i>福布斯</i>估计伍德的净资产为4亿美元。</blockquote></p><p> <b>Investment philosophy and performance</b></p><p><blockquote><b>投资理念与业绩</b></blockquote></p><p> Ark Invest describes its sole focus as “disruptive innovation,” which allows the firm toinvest in companieswhose products and services are expected to meet the needs of a planet that’s barrelling from crisis to crisis.</p><p><blockquote>Ark Invest将其唯一的关注点描述为“颠覆性创新”，这使该公司能够投资于其产品和服务有望满足不断经历危机的地球需求的公司。</blockquote></p><p> Ark’s big bet is that technology is the most effective solution to these crises and that a disruption-first ethos is a primary path to greater returns.</p><p><blockquote>Ark的大赌注是，技术是解决这些危机的最有效解决方案，而颠覆第一的精神是获得更大回报的主要途径。</blockquote></p><p> “We’re all about finding the next big thing,” reads a quote from Wood on Ark Invest’s website. “Those hewing to the benchmarks, which are backwards looking, are not about the future. They are about what has worked. We’re all about what is going to work.”</p><p><blockquote>“我们都在寻找下一件大事，”Ark Invest网站上引用伍德的话写道。“那些坚持基准的人是向后看的，不是关于未来的。它们是关于什么是有效的。我们都是关于什么是有效的。”</blockquote></p><p> And Wood’s picks are most definitely working.</p><p><blockquote>伍德的选择肯定是有效的。</blockquote></p><p> Despite the recent sluggishness that ARKK and ARKG are experiencing, both funds have crushed the market over the past five years</p><p><blockquote>尽管ARKK和ARKG最近经历了低迷，但这两只基金在过去五年中都碾压了市场</blockquote></p><p> ARKK, which includes tech heavyweights Tesla, Zoom, Coinbase, and Shopify among others, has grown by about 450% since the summer of 2016.</p><p><blockquote>ARKK包括科技巨头特斯拉、Zoom、Coinbase和Shopify等，自2016年夏季以来已增长约450%。</blockquote></p><p> Meanwhile, ARKG, which targets technologies like molecular diagnostic and genetics, and holds companies such as virtual healthcare provider Teladoc Health and Regeneron Pharmaceuticals, is up roughly 340% over the same time period.</p><p><blockquote>与此同时，瞄准分子诊断和遗传学等技术并持有虚拟医疗保健提供商Teladoc Health和再生元制药等公司的ARKG同期股价上涨了约340%。</blockquote></p><p> <b>Recent struggles providing a buying window?</b></p><p><blockquote><b>最近的挣扎提供了一个购买窗口？</b></blockquote></p><p> Investors who purchased either ARKK or ARKG in 2021 have had little to celebrate, with the ETFs posting year-to-date declines of 9% and 15%, respectively.</p><p><blockquote>2021年购买ARKK或ARKG的投资者没什么值得庆祝的，这些ETF今年迄今分别下跌了9%和15%。</blockquote></p><p> With investors changing course from growth stocks to economic recovery plays this year, many of Ark’s tech-focused plays have seen their shares decline, dragging down the value of Ark’s ETFs.</p><p><blockquote>随着今年投资者从成长型股票转向经济复苏型股票，Ark的许多以科技为重点的股票股价下跌，拖累了ARK ETF的价值。</blockquote></p><p> It’s one of the risks of the company’s relatively narrow focus.</p><p><blockquote>这是该公司关注点相对狭窄的风险之一。</blockquote></p><p> But despite the recent weakness, investors aren’t exactly losing confidence in the Ark ETFs. In fact, they’re backing Wood with even more money, suggesting they see the dip as an attractive buying opportunity.</p><p><blockquote>但尽管最近表现疲软，投资者并没有对ARK ETF失去信心。事实上，他们用更多的资金支持木材，这表明他们将下跌视为一个有吸引力的买入机会。</blockquote></p><p> For instance, ARKK has seen nearly $5.9 billion in inflows this year, bringing its total assets under management to a whopping $22.6 billion.</p><p><blockquote>例如，ARKK今年的资金流入近59亿美元，使其管理的总资产达到226亿美元。</blockquote></p><p> <b>ETFs and beyond</b></p><p><blockquote><b>ETF及其他</b></blockquote></p><p> Purchasing Ark ETFs is easier than you think. And now might be an ideal time to do it.</p><p><blockquote>购买ARK ETF比您想象的要容易。现在可能是做这件事的理想时机。</blockquote></p><p> You can get started witha popular investing app, which offers not only ETFs, but also fractional shares. Another app allows you to build a diversified portfolio with little more than the“spare change” left over from your everyday purchases.</p><p><blockquote>你可以从一个流行的投资应用程序开始，它不仅提供ETF，还提供零碎股票。另一个应用程序允许你用日常购物剩下的“零钱”建立一个多元化的投资组合。</blockquote></p><p> With a little help from theright platform, you can invest alongside Cathie Wood and, hopefully, profit massively from her next set of big ideas.</p><p><blockquote>在theright platform的一点帮助下，你可以和Cathie Wood一起投资，并有望从她的下一组大创意中获得巨大利润。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/cathie-wood-know-ark-invests-221500163.html\">MoneyWise</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/cathie-wood-know-ark-invests-221500163.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156125276","content_text":"Move over, Warren Buffett. There’s a new oracle in town.\nLast year, Cathie Wood, founder of asset management firm Ark Invest, established herself as a master of the modern exchange-traded fund (ETF). In 2020, her flagship Ark Innovation ETF (ARKK) posted eye-watering gains of 153%, easily crushing the return of the overall stock market.\nOver the past five years, ARKK has averaged an annual return of greater than 40%.\nWhile ARKK and another of the company’s funds, Ark Genomic Revolution ETF (ARKG), have struggled this year, money from investors continues to pour in and CEOs like Elon Musk want to be on her podcast. You may even have Ark fundsin your portfolio.\nDespite the choppy road Wood's offerings have bumped along in the past few months, investors continue to hold on. Here's why.\nJust who is Cathie Wood?\nWhen she founded Ark Invest in 2014, Wood had already amassed 40 years of experience researching and investing in innovation. She managed over $5 billion in assets at AllianceBernstein and over $800 million at hedge fund Tupelo Capital Management, which she also founded.\nWood launched Ark as a means of packaging active stock portfolios in an ETF format.\nBy concentrating on innovative, disruptive technologies, Arkinvests in companieswith the potential for both explosive short-term growth and long-term relevance. As the company’s CIO and portfolio manager, the final call on Ark’s investment decisions is Wood’s to make.\nWood has received plenty of recognition for her investment performance in recent years.\nShe was a featured speaker at the World Economic Forum (China) in 2016 and 2017. In 2018, she was selected by Bloomberg as one of the 50 people defining global business. In 2019,Fortunechose Wood to be one of the experts included in the publication’s annualFortune Investors Guide.\nAs of Aug. 11,Forbesestimated Wood’s net worth to be $400 million.\nInvestment philosophy and performance\nArk Invest describes its sole focus as “disruptive innovation,” which allows the firm toinvest in companieswhose products and services are expected to meet the needs of a planet that’s barrelling from crisis to crisis.\nArk’s big bet is that technology is the most effective solution to these crises and that a disruption-first ethos is a primary path to greater returns.\n“We’re all about finding the next big thing,” reads a quote from Wood on Ark Invest’s website. “Those hewing to the benchmarks, which are backwards looking, are not about the future. They are about what has worked. We’re all about what is going to work.”\nAnd Wood’s picks are most definitely working.\nDespite the recent sluggishness that ARKK and ARKG are experiencing, both funds have crushed the market over the past five years\nARKK, which includes tech heavyweights Tesla, Zoom, Coinbase, and Shopify among others, has grown by about 450% since the summer of 2016.\nMeanwhile, ARKG, which targets technologies like molecular diagnostic and genetics, and holds companies such as virtual healthcare provider Teladoc Health and Regeneron Pharmaceuticals, is up roughly 340% over the same time period.\nRecent struggles providing a buying window?\nInvestors who purchased either ARKK or ARKG in 2021 have had little to celebrate, with the ETFs posting year-to-date declines of 9% and 15%, respectively.\nWith investors changing course from growth stocks to economic recovery plays this year, many of Ark’s tech-focused plays have seen their shares decline, dragging down the value of Ark’s ETFs.\nIt’s one of the risks of the company’s relatively narrow focus.\nBut despite the recent weakness, investors aren’t exactly losing confidence in the Ark ETFs. In fact, they’re backing Wood with even more money, suggesting they see the dip as an attractive buying opportunity.\nFor instance, ARKK has seen nearly $5.9 billion in inflows this year, bringing its total assets under management to a whopping $22.6 billion.\nETFs and beyond\nPurchasing Ark ETFs is easier than you think. And now might be an ideal time to do it.\nYou can get started witha popular investing app, which offers not only ETFs, but also fractional shares. Another app allows you to build a diversified portfolio with little more than the“spare change” left over from your everyday purchases.\nWith a little help from theright platform, you can invest alongside Cathie Wood and, hopefully, profit massively from her next set of big ideas.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891149207,"gmtCreate":1628355652009,"gmtModify":1633751487420,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Reason of suing?","listText":"Reason of suing?","text":"Reason of suing?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/891149207","repostId":"1110501028","repostType":4,"repost":{"id":"1110501028","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":1628260468,"share":"https://www.laohu8.com/m/news/1110501028?lang=zh_CN&edition=full","pubTime":"2021-08-06 22:34","market":"hk","language":"en","title":"Tencent sued by the Haidian District Procuratorate<blockquote>海淀区检察院起诉的腾讯控股</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1110501028","media":"Tiger Newspress","summary":"(Aug 6) Tencent sued by the Haidian District Procuratorate.","content":"<p>(Aug 6)&nbsp;Tencent sued by the Haidian District Procuratorate.</p><p><blockquote>（8月6日）腾讯控股被海淀区检察院提起公诉。</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>Tencent sued by the Haidian District Procuratorate<blockquote>海淀区检察院起诉的腾讯控股</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\">\nTencent sued by the Haidian District Procuratorate<blockquote>海淀区检察院起诉的腾讯控股</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\">2021-08-06 22:34</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug 6)&nbsp;Tencent sued by the Haidian District Procuratorate.</p><p><blockquote>（8月6日）腾讯控股被海淀区检察院提起公诉。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TCEHY":"腾讯控股ADR","00700":"腾讯控股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110501028","content_text":"(Aug 6) Tencent sued by the Haidian District Procuratorate.","news_type":1,"symbols_score_info":{"TCEHY":0.9,"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807009612,"gmtCreate":1627985451836,"gmtModify":1633754649756,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Crypto to the moon. Haha","listText":"Crypto to the moon. Haha","text":"Crypto to the moon. Haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/807009612","repostId":"1169761670","repostType":4,"repost":{"id":"1169761670","kind":"news","pubTimestamp":1627983123,"share":"https://www.laohu8.com/m/news/1169761670?lang=zh_CN&edition=full","pubTime":"2021-08-03 17:32","market":"sg","language":"en","title":"Are next-gen Singaporeans keen on investing?<blockquote>下一代新加坡人热衷于投资吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169761670","media":"Singapore Business","summary":"One in two among people aged 18 to 35 said it is important to invest early.\n\nOne in two next-gen Sin","content":"<p>  <b><i>One in two among people aged 18 to 35 said it is important to invest early.</i></b>  One in two next-gen Singaporeans aged between 18 to 35 believes that it is important to start an investment journey early, according to Next-Gen Investor Survey&nbsp;by Franklin Templeton.</p><p><blockquote><b><i>18至35岁的人中有二分之一表示尽早投资很重要。</i></b>富兰克林邓普顿的下一代投资者调查显示，年龄在18至35岁之间的下一代新加坡人中，有二分之一认为尽早开始投资之旅很重要。</blockquote></p><p> Franklin Templeton, however, found in the survey of 502 respondents that limited budget (36%),&nbsp;fear of incurring losses (32%), and lack of investment knowledge (28%) were the key challenges faced when mulling investment.</p><p><blockquote>然而，富兰克林邓普顿在对502名受访者的调查中发现，预算有限（36%）、担心遭受损失（32%）和缺乏投资知识（28%）是考虑投资时面临的主要挑战。</blockquote></p><p> A third also find investing difficult and expressed in making the right investment, it said.</p><p><blockquote>报告称，三分之一的人还发现投资很困难，并表示难以做出正确的投资。</blockquote></p><p> The COVID-19 pandemic has also affected the young investors financially, with 29% of respondents saying they were positively affected, 33% said the pandemic did not have an impact, and 39% were negatively affected. Respondents who were affected positively invested more (71%) since the start of the health crisis, whilst&nbsp;59% of those not affected and 40% of those negatively affected&nbsp;had invested.</p><p><blockquote>新冠肺炎疫情也对年轻投资者产生了财务影响，29%的受访者表示他们受到了积极影响，33%的受访者表示疫情没有影响，39%的受访者受到了负面影响。自健康危机开始以来，受积极影响的受访者投资更多（71%），而59%未受影响的受访者和40%受负面影响的受访者进行了投资。</blockquote></p><p> One in two of the respondents were also expecting a salary increase in the next year as the economy of Singapore recovers.</p><p><blockquote>二分之一的受访者还预计，随着新加坡经济的复苏，明年的工资会增加。</blockquote></p><p> Of the respondents,&nbsp;37% had monthly personal income below S$3,000, 31% between S$3,000 and S$5,999;&nbsp;20% between S$6,000 and S$9,999; and 11% above S$10,000.&nbsp;83% of them save monthly and 50% set aside monthly spending for investment.</p><p><blockquote>受访者中，37%的月个人收入低于3000新元，31%在3000新元至5999新元之间；20%在6000新元至9999新元之间；其中83%每月储蓄，50%每月支出用于投资。</blockquote></p><p> The average annual investment among them is slightly above S$18,000 and dollar-cost averaging through recurring investments (56%) topped lumpsum (24%) as their preferred approach. A total of 57% of them adopted a “60% equity and 40% fixed income” asset allocation, while 23% were employing other allocation strategies and the rest do not have a strategy.</p><p><blockquote>他们的平均年投资略高于18,000新元，通过经常性投资的平均成本（56%）超过了一次性投资（24%）作为他们的首选方法。其中共有57%的人采用了“60%股票和40%固定收益”的资产配置，而23%的人采用了其他配置策略，其余的人没有策略。</blockquote></p><p> More than half of them or 52% were expecting more than 10% annual returns, followed by 33% who were expecting 5% to 10% and 15% were expecting 1% to 5% annual returns.</p><p><blockquote>其中超过一半（52%）的预期年回报率超过10%，其次是33%的预期年回报率为5%至10%，15%的预期年回报率为1%至5%。</blockquote></p><p> Dora Seow, Country Head for Singapore, Franklin Templeton, said young investors who are maximizing returns in non-traditional asset classes in platforms such as cryptocurrencies should consider “diversifying” their portfolio “to better ride out high volatility in such spaces.”</p><p><blockquote>富兰克林邓普顿新加坡国家主管Dora Seow表示，在加密货币等平台上实现非传统资产类别回报最大化的年轻投资者应该考虑“多元化”他们的投资组合，“以更好地度过此类领域的高波动”。</blockquote></p><p> “We would encourage young investors to remain invested over the long term and rebalance their portfolio on a regular basis in line with their risk tolerance and investment goals as they grow through different milestones in their life,” she said.</p><p><blockquote>她说：“我们鼓励年轻投资者保持长期投资，并在他们人生不同里程碑的成长过程中，根据他们的风险承受能力和投资目标定期重新平衡他们的投资组合。”</blockquote></p><p> Respondents currently hold at least one investment product in their portfolio including equities (36%), fixed income (29%), cryptocurrency (28%), exchange-traded fund (25%), and mutual funds (23%).</p><p><blockquote>受访者目前在其投资组合中至少持有一种投资产品，包括股票（36%）、固定收益（29%）、加密货币（28%）、交易所交易基金（25%）和共同基金（23%）。</blockquote></p><p> Aside from investing, next-gen Singaporeans are citing financial freedom (66%), living a happy life (64%), and good health (62%) as the most important goals in life, Franklin Templeton said.</p><p><blockquote>富兰克林邓普顿表示，除了投资之外，下一代新加坡人还将财务自由（66%）、幸福生活（64%）和身体健康（62%）视为人生最重要的目标。</blockquote></p><p></p>","source":"lsy1618986048053","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>Are next-gen Singaporeans keen on investing?<blockquote>下一代新加坡人热衷于投资吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAre next-gen Singaporeans keen on investing?<blockquote>下一代新加坡人热衷于投资吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Singapore Business</strong><span class=\"h-time small\">2021-08-03 17:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b><i>One in two among people aged 18 to 35 said it is important to invest early.</i></b>  One in two next-gen Singaporeans aged between 18 to 35 believes that it is important to start an investment journey early, according to Next-Gen Investor Survey&nbsp;by Franklin Templeton.</p><p><blockquote><b><i>18至35岁的人中有二分之一表示尽早投资很重要。</i></b>富兰克林邓普顿的下一代投资者调查显示，年龄在18至35岁之间的下一代新加坡人中，有二分之一认为尽早开始投资之旅很重要。</blockquote></p><p> Franklin Templeton, however, found in the survey of 502 respondents that limited budget (36%),&nbsp;fear of incurring losses (32%), and lack of investment knowledge (28%) were the key challenges faced when mulling investment.</p><p><blockquote>然而，富兰克林邓普顿在对502名受访者的调查中发现，预算有限（36%）、担心遭受损失（32%）和缺乏投资知识（28%）是考虑投资时面临的主要挑战。</blockquote></p><p> A third also find investing difficult and expressed in making the right investment, it said.</p><p><blockquote>报告称，三分之一的人还发现投资很困难，并表示难以做出正确的投资。</blockquote></p><p> The COVID-19 pandemic has also affected the young investors financially, with 29% of respondents saying they were positively affected, 33% said the pandemic did not have an impact, and 39% were negatively affected. Respondents who were affected positively invested more (71%) since the start of the health crisis, whilst&nbsp;59% of those not affected and 40% of those negatively affected&nbsp;had invested.</p><p><blockquote>新冠肺炎疫情也对年轻投资者产生了财务影响，29%的受访者表示他们受到了积极影响，33%的受访者表示疫情没有影响，39%的受访者受到了负面影响。自健康危机开始以来，受积极影响的受访者投资更多（71%），而59%未受影响的受访者和40%受负面影响的受访者进行了投资。</blockquote></p><p> One in two of the respondents were also expecting a salary increase in the next year as the economy of Singapore recovers.</p><p><blockquote>二分之一的受访者还预计，随着新加坡经济的复苏，明年的工资会增加。</blockquote></p><p> Of the respondents,&nbsp;37% had monthly personal income below S$3,000, 31% between S$3,000 and S$5,999;&nbsp;20% between S$6,000 and S$9,999; and 11% above S$10,000.&nbsp;83% of them save monthly and 50% set aside monthly spending for investment.</p><p><blockquote>受访者中，37%的月个人收入低于3000新元，31%在3000新元至5999新元之间；20%在6000新元至9999新元之间；其中83%每月储蓄，50%每月支出用于投资。</blockquote></p><p> The average annual investment among them is slightly above S$18,000 and dollar-cost averaging through recurring investments (56%) topped lumpsum (24%) as their preferred approach. A total of 57% of them adopted a “60% equity and 40% fixed income” asset allocation, while 23% were employing other allocation strategies and the rest do not have a strategy.</p><p><blockquote>他们的平均年投资略高于18,000新元，通过经常性投资的平均成本（56%）超过了一次性投资（24%）作为他们的首选方法。其中共有57%的人采用了“60%股票和40%固定收益”的资产配置，而23%的人采用了其他配置策略，其余的人没有策略。</blockquote></p><p> More than half of them or 52% were expecting more than 10% annual returns, followed by 33% who were expecting 5% to 10% and 15% were expecting 1% to 5% annual returns.</p><p><blockquote>其中超过一半（52%）的预期年回报率超过10%，其次是33%的预期年回报率为5%至10%，15%的预期年回报率为1%至5%。</blockquote></p><p> Dora Seow, Country Head for Singapore, Franklin Templeton, said young investors who are maximizing returns in non-traditional asset classes in platforms such as cryptocurrencies should consider “diversifying” their portfolio “to better ride out high volatility in such spaces.”</p><p><blockquote>富兰克林邓普顿新加坡国家主管Dora Seow表示，在加密货币等平台上实现非传统资产类别回报最大化的年轻投资者应该考虑“多元化”他们的投资组合，“以更好地度过此类领域的高波动”。</blockquote></p><p> “We would encourage young investors to remain invested over the long term and rebalance their portfolio on a regular basis in line with their risk tolerance and investment goals as they grow through different milestones in their life,” she said.</p><p><blockquote>她说：“我们鼓励年轻投资者保持长期投资，并在他们人生不同里程碑的成长过程中，根据他们的风险承受能力和投资目标定期重新平衡他们的投资组合。”</blockquote></p><p> Respondents currently hold at least one investment product in their portfolio including equities (36%), fixed income (29%), cryptocurrency (28%), exchange-traded fund (25%), and mutual funds (23%).</p><p><blockquote>受访者目前在其投资组合中至少持有一种投资产品，包括股票（36%）、固定收益（29%）、加密货币（28%）、交易所交易基金（25%）和共同基金（23%）。</blockquote></p><p> Aside from investing, next-gen Singaporeans are citing financial freedom (66%), living a happy life (64%), and good health (62%) as the most important goals in life, Franklin Templeton said.</p><p><blockquote>富兰克林邓普顿表示，除了投资之外，下一代新加坡人还将财务自由（66%）、幸福生活（64%）和身体健康（62%）视为人生最重要的目标。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://sbr.com.sg/markets-investing/news/are-next-gen-singaporeans-keen-investing\">Singapore Business</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":"https://static.tigerbbs.com/af47ab6c10e46f0aea6733871f311696","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://sbr.com.sg/markets-investing/news/are-next-gen-singaporeans-keen-investing","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169761670","content_text":"One in two among people aged 18 to 35 said it is important to invest early.\n\nOne in two next-gen Singaporeans aged between 18 to 35 believes that it is important to start an investment journey early, according to Next-Gen Investor Survey by Franklin Templeton.\nFranklin Templeton, however, found in the survey of 502 respondents that limited budget (36%), fear of incurring losses (32%), and lack of investment knowledge (28%) were the key challenges faced when mulling investment.\nA third also find investing difficult and expressed in making the right investment, it said.\nThe COVID-19 pandemic has also affected the young investors financially, with 29% of respondents saying they were positively affected, 33% said the pandemic did not have an impact, and 39% were negatively affected. Respondents who were affected positively invested more (71%) since the start of the health crisis, whilst 59% of those not affected and 40% of those negatively affected had invested.\nOne in two of the respondents were also expecting a salary increase in the next year as the economy of Singapore recovers.\nOf the respondents, 37% had monthly personal income below S$3,000, 31% between S$3,000 and S$5,999; 20% between S$6,000 and S$9,999; and 11% above S$10,000. 83% of them save monthly and 50% set aside monthly spending for investment.\nThe average annual investment among them is slightly above S$18,000 and dollar-cost averaging through recurring investments (56%) topped lumpsum (24%) as their preferred approach. A total of 57% of them adopted a “60% equity and 40% fixed income” asset allocation, while 23% were employing other allocation strategies and the rest do not have a strategy.\nMore than half of them or 52% were expecting more than 10% annual returns, followed by 33% who were expecting 5% to 10% and 15% were expecting 1% to 5% annual returns.\nDora Seow, Country Head for Singapore, Franklin Templeton, said young investors who are maximizing returns in non-traditional asset classes in platforms such as cryptocurrencies should consider “diversifying” their portfolio “to better ride out high volatility in such spaces.”\n“We would encourage young investors to remain invested over the long term and rebalance their portfolio on a regular basis in line with their risk tolerance and investment goals as they grow through different milestones in their life,” she said.\nRespondents currently hold at least one investment product in their portfolio including equities (36%), fixed income (29%), cryptocurrency (28%), exchange-traded fund (25%), and mutual funds (23%).\nAside from investing, next-gen Singaporeans are citing financial freedom (66%), living a happy life (64%), and good health (62%) as the most important goals in life, Franklin Templeton said.","news_type":1,"symbols_score_info":{"STI.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":840263587,"gmtCreate":1635650439264,"gmtModify":1635650439264,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/840263587","repostId":"2179223073","repostType":4,"isVote":1,"tweetType":1,"viewCount":885,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":861730994,"gmtCreate":1632536367118,"gmtModify":1632799286258,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Lol bec a sudden blush made me lost my bet on tiger coins.&nbsp;[愤怒]&nbsp;[愤怒]&nbsp;[愤怒]&nbsp;[愤怒]&nbsp;","listText":"Lol bec a sudden blush made me lost my bet on tiger coins.&nbsp;[愤怒]&nbsp;[愤怒]&nbsp;[愤怒]&nbsp;[愤怒]&nbsp;","text":"Lol bec a sudden blush made me lost my bet on tiger coins. [愤怒] [愤怒] [愤怒] [愤怒]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/861730994","repostId":"2170619785","repostType":4,"isVote":1,"tweetType":1,"viewCount":435,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":887357720,"gmtCreate":1631982140660,"gmtModify":1632804969824,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/887357720","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","kind":"news","pubTimestamp":1631921912,"share":"https://www.laohu8.com/m/news/1171558890?lang=zh_CN&edition=full","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将于2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</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\">\nUS IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-09-18 07:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将于2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">renaissancecap...</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":{"ESMT":"EngageSmart Inc.","SOVO":"Sovos Brands, Inc.","CWAN":"Clearwater Analytics Holdings, Inc.","THRN":"Thorne Healthtech","FRSH":"Freshworks","BRLT":"Brilliant Earth Group, Inc.","ARBK":"Argo Blockchain Plc","STER":"Sterling Check Corp.","TOST":"Toast, Inc.","RELY":"Remitly Global, Inc.","AKA":"a.k.a. Brands Holding Corp.","HLTH":"Cue Health Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.","news_type":1,"symbols_score_info":{"ARBK":0.9,"BRLT":0.9,"AKA":0.9,"ESMT":0.9,"HLTH":0.9,"SOVO":0.9,"TOST":0.9,"THRN":0.9,"KDC":0.9,"RELY":0.9,"CWAN":0.9,"FRSH":0.9,"STER":0.9}},"isVote":1,"tweetType":1,"viewCount":349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":855586451,"gmtCreate":1635383536067,"gmtModify":1635383536067,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Haha&nbsp;","listText":"Haha&nbsp;","text":"Haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/855586451","repostId":"2178234765","repostType":4,"isVote":1,"tweetType":1,"viewCount":582,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829135975,"gmtCreate":1633479546445,"gmtModify":1633479546616,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"That 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great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/829135975","repostId":"1117360923","repostType":4,"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":867097223,"gmtCreate":1633160465403,"gmtModify":1633160465533,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/867097223","repostId":"2172196180","repostType":4,"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868459062,"gmtCreate":1632701574456,"gmtModify":1632798530860,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868459062","repostId":"1142057327","repostType":4,"repost":{"id":"1142057327","kind":"news","pubTimestamp":1632643246,"share":"https://www.laohu8.com/m/news/1142057327?lang=zh_CN&edition=full","pubTime":"2021-09-26 16:00","market":"us","language":"en","title":"Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142057327","media":"The street","summary":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to","content":"<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.</p><p><blockquote>英特尔在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项200亿美元项目的一部分，旨在帮助满足美国对半导体的高需求。</blockquote></p><p> Intel&nbsp;(<b>INTC</b>) -Get Intel Corporation (INTC) Report&nbsp;on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help&nbsp;alleviate the severe shortage of semiconductors in the U.S.</p><p><blockquote>英特尔（<b>INTC</b>)-获取英特尔公司(INTC)报告周五在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项耗资200亿美元的项目的一部分，旨在帮助缓解美国半导体的严重短缺。</blockquote></p><p> The Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的半导体芯片制造商首席执行官帕特·基辛格(Pat Gelsinger)在该公司位于亚利桑那州钱德勒的奥科蒂洛园区主持了该项目的奠基仪式，标志着该州历史上最大的私人投资。</blockquote></p><p> Intel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.</p><p><blockquote>英特尔预计这些工厂将于2024年全面投入运营，生产该公司最先进的工艺技术。</blockquote></p><p> “Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.</p><p><blockquote>基辛格在公司声明中表示：“今天的庆祝活动标志着一个重要的里程碑，因为我们正在努力提高产能并满足对半导体的难以置信的需求：半导体是万物数字化的基础技术。我们正在开创一个创新的新时代——对英特尔、对亚利桑那州和对全世界都是如此。自40多年前开业以来，这项200亿美元的扩建将使我们在亚利桑那州的总投资超过500亿美元。”</blockquote></p><p> \"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.</p><p><blockquote>Gelsinger表示：“作为唯一一家总部位于美国的领先芯片制造商，我们致力于在这项长期投资的基础上再接再厉，帮助美国重新获得半导体领先地位。”</blockquote></p><p> Shares of Intel on Friday traded 0.18% higher to $54.32 after hours.</p><p><blockquote>周五盘后英特尔股价上涨0.18%，至54.32美元。</blockquote></p><p> Gelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.</p><p><blockquote>基辛格周四参加了与科技公司高管和商务部长吉娜·雷蒙多的虚拟会议，以解决全球半导体芯片短缺问题，该问题干扰了高科技、电子和汽车行业的生产。</blockquote></p><p> The two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.</p><p><blockquote>这两个新工厂将被命名为Fab 52和Fab 62，将容纳总共六个半导体晶圆厂。该项目将创造3,000多个高科技、高工资的英特尔工作岗位、3,000个建筑工作岗位，并为当地社区提供约15,000个额外的间接工作岗位。</blockquote></p><p> Intel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.</p><p><blockquote>英特尔的竞争对手台积电公司计划也在亚利桑那州建造其在美国的第二家芯片工厂，目标是2024年开始生产。</blockquote></p><p></p>","source":"lsy1610613172068","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>Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</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\">\nIntel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The street</strong><span class=\"h-time small\">2021-09-26 16:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.</p><p><blockquote>英特尔在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项200亿美元项目的一部分，旨在帮助满足美国对半导体的高需求。</blockquote></p><p> Intel&nbsp;(<b>INTC</b>) -Get Intel Corporation (INTC) Report&nbsp;on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help&nbsp;alleviate the severe shortage of semiconductors in the U.S.</p><p><blockquote>英特尔（<b>INTC</b>)-获取英特尔公司(INTC)报告周五在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项耗资200亿美元的项目的一部分，旨在帮助缓解美国半导体的严重短缺。</blockquote></p><p> The Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的半导体芯片制造商首席执行官帕特·基辛格(Pat Gelsinger)在该公司位于亚利桑那州钱德勒的奥科蒂洛园区主持了该项目的奠基仪式，标志着该州历史上最大的私人投资。</blockquote></p><p> Intel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.</p><p><blockquote>英特尔预计这些工厂将于2024年全面投入运营，生产该公司最先进的工艺技术。</blockquote></p><p> “Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.</p><p><blockquote>基辛格在公司声明中表示：“今天的庆祝活动标志着一个重要的里程碑，因为我们正在努力提高产能并满足对半导体的难以置信的需求：半导体是万物数字化的基础技术。我们正在开创一个创新的新时代——对英特尔、对亚利桑那州和对全世界都是如此。自40多年前开业以来，这项200亿美元的扩建将使我们在亚利桑那州的总投资超过500亿美元。”</blockquote></p><p> \"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.</p><p><blockquote>Gelsinger表示：“作为唯一一家总部位于美国的领先芯片制造商，我们致力于在这项长期投资的基础上再接再厉，帮助美国重新获得半导体领先地位。”</blockquote></p><p> Shares of Intel on Friday traded 0.18% higher to $54.32 after hours.</p><p><blockquote>周五盘后英特尔股价上涨0.18%，至54.32美元。</blockquote></p><p> Gelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.</p><p><blockquote>基辛格周四参加了与科技公司高管和商务部长吉娜·雷蒙多的虚拟会议，以解决全球半导体芯片短缺问题，该问题干扰了高科技、电子和汽车行业的生产。</blockquote></p><p> The two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.</p><p><blockquote>这两个新工厂将被命名为Fab 52和Fab 62，将容纳总共六个半导体晶圆厂。该项目将创造3,000多个高科技、高工资的英特尔工作岗位、3,000个建筑工作岗位，并为当地社区提供约15,000个额外的间接工作岗位。</blockquote></p><p> Intel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.</p><p><blockquote>英特尔的竞争对手台积电公司计划也在亚利桑那州建造其在美国的第二家芯片工厂，目标是2024年开始生产。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories\">The street</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":{"INTC":"英特尔"},"source_url":"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142057327","content_text":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.\nIntel (INTC) -Get Intel Corporation (INTC) Report on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help alleviate the severe shortage of semiconductors in the U.S.\nThe Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.\nIntel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.\n“Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.\n\"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.\nShares of Intel on Friday traded 0.18% higher to $54.32 after hours.\nGelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.\nThe two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.\nIntel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.","news_type":1,"symbols_score_info":{"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":814945496,"gmtCreate":1630752704215,"gmtModify":1631885195463,"author":{"id":"3575188860884045","authorId":"3575188860884045","name":"Zasper","avatar":"https://static.tigerbbs.com/647533310e84099eea8515d90e6e2f94","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575188860884045","idStr":"3575188860884045"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814945496","repostId":"1186003479","repostType":4,"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}