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LIMCHENGZU
LIMCHENGZU
·
2021-07-14
Comment
Broadcom No Longer in Talks to Buy SAS Institute, Sources Say<blockquote>消息人士称，博通不再就收购SAS Institute进行谈判</blockquote>
A deal by the chip maker would have valued closely held SAS in the range of $15 billion to $20 billi
Broadcom No Longer in Talks to Buy SAS Institute, Sources Say<blockquote>消息人士称，博通不再就收购SAS Institute进行谈判</blockquote>
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LIMCHENGZU
LIMCHENGZU
·
2021-07-12
Comment and like
3 Red-Hot Stocks That Could Continue to Crush the Market<blockquote>3只可能继续碾压市场的热门股票</blockquote>
These growth and dividend stocks are thriving. Economic recovery concerns and inflation worries hav
3 Red-Hot Stocks That Could Continue to Crush the Market<blockquote>3只可能继续碾压市场的热门股票</blockquote>
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LIMCHENGZU
LIMCHENGZU
·
2021-06-24
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非常抱歉，此主贴已删除
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LIMCHENGZU
LIMCHENGZU
·
2021-06-24
Because printing more money...
Why U.S. stocks face a tough decade ahead even if corporate revenues are strong<blockquote>为什么即使企业收入强劲，美国股市仍将面临艰难的十年</blockquote>
Stock market’s return will grow at the same rate as the U.S. economy. Might there be hope, after al
Why U.S. stocks face a tough decade ahead even if corporate revenues are strong<blockquote>为什么即使企业收入强劲，美国股市仍将面临艰难的十年</blockquote>
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LIMCHENGZU
LIMCHENGZU
·
2021-06-23
time to buy?
非常抱歉，此主贴已删除
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LIMCHENGZU
LIMCHENGZU
·
2021-06-22
Like and comment please
非常抱歉，此主贴已删除
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LIMCHENGZU
LIMCHENGZU
·
2021-06-18
Goldman usually make the wrong guess [捂脸]
Goldman sees Fed-driven dip in commodities as a 'buying opportunity'<blockquote>高盛将美联储推动的大宗商品下跌视为“买入机会”</blockquote>
(Reuters) - Goldman Sachs said on Friday the recent slip in commodities prices driven by the U.S. Fe
Goldman sees Fed-driven dip in commodities as a 'buying opportunity'<blockquote>高盛将美联储推动的大宗商品下跌视为“买入机会”</blockquote>
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Talks forBroadcomInc. AVGO -0.36%to buy SAS Institute Inc. have ended after the founders of the closely held software company changed their minds about a sale, people familiar with the matter said.</p><p><blockquote>这家芯片制造商的交易将使少数人持有的SAS估值在150亿至200亿美元之间。知情人士称，BroadcomInc.AVGO-0.36%收购SAS Institute Inc.的谈判已经结束，此前这家少数人持股的软件公司的创始人改变了出售想法。</blockquote></p><p> The Wall Street Journal reported Monday that thecompanies were discussing a dealthat would value SAS in the range of $15 billion to $20 billion, including any debt. Following the report, Jim Goodnight and John Sall, who co-founded SAS decades ago and still run the company, had a change of heart and decided not to sell to Broadcom, the people said. Whether another suitor for SAS could emerge isn’t clear.</p><p><blockquote>《华尔街日报》周一报道称，两家公司正在讨论一项交易，该交易将使SAS的估值在150亿至200亿美元之间，包括任何债务。知情人士称，报道发布后，几十年前共同创立SAS并仍在运营该公司的吉姆·古德奈特(Jim Goodnight)和约翰·萨尔(John Sall)改变了主意，决定不出售给博通(Broadcom)。SAS的另一个追求者是否会出现尚不清楚。</blockquote></p><p> Some SAS employees saw the company as a strange fit for efficiency-focused Broadcom, some of the people familiar with the matter said. SAS is known for a tightknit culture and has a sprawling North Carolina campus with amenities including a yoga studio and a disc golf course.</p><p><blockquote>一些知情人士表示，一些SAS员工认为该公司非常适合注重效率的博通。SAS以紧密团结的文化而闻名，在北卡罗来纳州拥有一个庞大的校园，设施包括瑜伽馆和圆盘高尔夫球场。</blockquote></p><p> Cary, N.C.-based SAS sells analytics-, business-intelligence and data-management software to enterprises. The company traces its roots back to the 1960s, when universities teamed up to analyze troves of agricultural data through a program called the Statistical Analysis System.</p><p><blockquote>总部位于北卡罗来纳州卡里的SAS向企业销售分析、商业智能和数据管理软件。该公司的历史可以追溯到20世纪60年代，当时各大学联手通过一个名为统计分析系统的程序分析大量农业数据。</blockquote></p><p> Broadcom, a semiconductor powerhouse built largely through acquisitions, has been on the hunt for a deal to beef up its presence in the corporate-software market. Its chief executive, Hock Tan, said earlier this year the company would look at buybacks and possibly debt repayment, if it didn’t make an acquisition by the end of the fiscal year. 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Talks forBroadcomInc. AVGO -0.36%to buy SAS Institute Inc. have ended after the founders of the closely held software company changed their minds about a sale, people familiar with the matter said.</p><p><blockquote>这家芯片制造商的交易将使少数人持有的SAS估值在150亿至200亿美元之间。知情人士称，BroadcomInc.AVGO-0.36%收购SAS Institute Inc.的谈判已经结束，此前这家少数人持股的软件公司的创始人改变了出售想法。</blockquote></p><p> The Wall Street Journal reported Monday that thecompanies were discussing a dealthat would value SAS in the range of $15 billion to $20 billion, including any debt. Following the report, Jim Goodnight and John Sall, who co-founded SAS decades ago and still run the company, had a change of heart and decided not to sell to Broadcom, the people said. Whether another suitor for SAS could emerge isn’t clear.</p><p><blockquote>《华尔街日报》周一报道称，两家公司正在讨论一项交易，该交易将使SAS的估值在150亿至200亿美元之间，包括任何债务。知情人士称，报道发布后，几十年前共同创立SAS并仍在运营该公司的吉姆·古德奈特(Jim Goodnight)和约翰·萨尔(John Sall)改变了主意，决定不出售给博通(Broadcom)。SAS的另一个追求者是否会出现尚不清楚。</blockquote></p><p> Some SAS employees saw the company as a strange fit for efficiency-focused Broadcom, some of the people familiar with the matter said. SAS is known for a tightknit culture and has a sprawling North Carolina campus with amenities including a yoga studio and a disc golf course.</p><p><blockquote>一些知情人士表示，一些SAS员工认为该公司非常适合注重效率的博通。SAS以紧密团结的文化而闻名，在北卡罗来纳州拥有一个庞大的校园，设施包括瑜伽馆和圆盘高尔夫球场。</blockquote></p><p> Cary, N.C.-based SAS sells analytics-, business-intelligence and data-management software to enterprises. The company traces its roots back to the 1960s, when universities teamed up to analyze troves of agricultural data through a program called the Statistical Analysis System.</p><p><blockquote>总部位于北卡罗来纳州卡里的SAS向企业销售分析、商业智能和数据管理软件。该公司的历史可以追溯到20世纪60年代，当时各大学联手通过一个名为统计分析系统的程序分析大量农业数据。</blockquote></p><p> Broadcom, a semiconductor powerhouse built largely through acquisitions, has been on the hunt for a deal to beef up its presence in the corporate-software market. Its chief executive, Hock Tan, said earlier this year the company would look at buybacks and possibly debt repayment, if it didn’t make an acquisition by the end of the fiscal year. That typically ends in late October or early November.</p><p><blockquote>博通是一家主要通过收购建立的半导体巨头，一直在寻找交易来增强其在企业软件市场的影响力。该公司首席执行官Hock Tan今年早些时候表示，如果在本财年结束前没有进行收购，该公司将考虑回购并可能偿还债务。这通常在10月底或11月初结束。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/broadcom-no-longer-in-talks-to-buy-sas-institute-sources-say-11626212065?mod=hp_lead_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":{"AVGO":"博通"},"source_url":"https://www.wsj.com/articles/broadcom-no-longer-in-talks-to-buy-sas-institute-sources-say-11626212065?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118898141","content_text":"A deal by the chip maker would have valued closely held SAS in the range of $15 billion to $20 billion.\n\nTalks forBroadcomInc. AVGO -0.36%to buy SAS Institute Inc. have ended after the founders of the closely held software company changed their minds about a sale, people familiar with the matter said.\nThe Wall Street Journal reported Monday that thecompanies were discussing a dealthat would value SAS in the range of $15 billion to $20 billion, including any debt. Following the report, Jim Goodnight and John Sall, who co-founded SAS decades ago and still run the company, had a change of heart and decided not to sell to Broadcom, the people said. Whether another suitor for SAS could emerge isn’t clear.\nSome SAS employees saw the company as a strange fit for efficiency-focused Broadcom, some of the people familiar with the matter said. SAS is known for a tightknit culture and has a sprawling North Carolina campus with amenities including a yoga studio and a disc golf course.\nCary, N.C.-based SAS sells analytics-, business-intelligence and data-management software to enterprises. The company traces its roots back to the 1960s, when universities teamed up to analyze troves of agricultural data through a program called the Statistical Analysis System.\nBroadcom, a semiconductor powerhouse built largely through acquisitions, has been on the hunt for a deal to beef up its presence in the corporate-software market. Its chief executive, Hock Tan, said earlier this year the company would look at buybacks and possibly debt repayment, if it didn’t make an acquisition by the end of the fiscal year. That typically ends in late October or early November.","news_type":1,"symbols_score_info":{"AVGO":0.9}},"isVote":1,"tweetType":1,"viewCount":1429,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146111232,"gmtCreate":1626058417826,"gmtModify":1631888244045,"author":{"id":"4087111377660040","authorId":"4087111377660040","name":"LIMCHENGZU","avatar":"https://static.tigerbbs.com/43e678aa792b38b031003fe4d65fb7d9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087111377660040","idStr":"4087111377660040"},"themes":[],"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/146111232","repostId":"1121762629","repostType":4,"repost":{"id":"1121762629","kind":"news","pubTimestamp":1626057041,"share":"https://www.laohu8.com/m/news/1121762629?lang=zh_CN&edition=full","pubTime":"2021-07-12 10:30","market":"us","language":"en","title":"3 Red-Hot Stocks That Could Continue to Crush the Market<blockquote>3只可能继续碾压市场的热门股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1121762629","media":"Motley Fool","summary":"These growth and dividend stocks are thriving.\n\nEconomic recovery concerns and inflation worries hav","content":"<p> <b>These growth and dividend stocks are thriving.</b> Economic recovery concerns and inflation worries have been no match for a smoking-hot stock market. Theindustrial sectoris helping to lead the charge. It sports a fair share of up-and-coming growth stocks, as well as large traditional businesses -- many of which are beating the market.</p><p><blockquote><b>这些成长型和股息型股票正在蓬勃发展。</b>经济复苏担忧和通胀担忧无法与炙手可热的股市相媲美。工业部门正在帮助引领潮流。它拥有相当多的新兴成长型股票以及大型传统企业，其中许多企业的表现优于市场。</blockquote></p><p> We asked some of our contributors which stocks they thought could continue to crush the market. They chose <b>Zebra Technologies</b>(NASDAQ:ZBRA),<b>Waste Management</b>(NYSE:WM), and <b>NIO</b>(NYSE:NIO).</p><p><blockquote>我们询问了一些撰稿人，他们认为哪些股票可能会继续碾压市场。他们选择了<b>斑马科技</b>（纳斯达克：ZBRA），<b>废物管理</b>（纽约证券交易所代码：WM），以及<b>蔚来</b>（纽约证券交易所代码：蔚来）。</blockquote></p><p> Zebra Technologies stands out from the crowd</p><p><blockquote>Zebra Technologies脱颖而出</blockquote></p><p> <b>Lee Samaha(Zebra Technologies):</b>Zebra's stock is up 111% over the last year and by 39% in 2021. That's a comfortable outperformance, and it comes as the company's technology has come to the fore during the pandemic.</p><p><blockquote><b>Lee Samaha（斑马科技）：</b>Zebra的股价去年上涨了111%，2021年上涨了39%。这是一个令人欣慰的优异表现，而且该公司的技术在大流行期间脱颖而出。</blockquote></p><p> Zebra is a manufacturer of what management calls \"enterprise asset intelligence\" solutions. In plain English, mobile computers, barcode scanners, specialty printers, RFID printers and readers, and other products are used by workers to gather information. Real-world examples of its technology include e-commerce warehouses using scanners to monitor workflows, retailers managing inventory, and healthcare workers tracking and tracing medical products.</p><p><blockquote>斑马是评级“企业资产智能”解决方案的制造商。简单地说，工人们使用移动计算机、条形码扫描仪、专业打印机、RFID打印机和阅读器以及其他产品来收集信息。其技术的现实例子包括使用扫描仪监控工作流程的电子商务仓库、管理库存的零售商以及跟踪和追踪医疗产品的医护人员。</blockquote></p><p> Global supply chains came under a lot of stress during the pandemic, so, understandably, many companies are making investments in Zebra's technologies a priority. Whether companies are looking to invest in automating production in a warehouse or capturing data to use with advanced analytics in a retail or healthcare environment, Zebra's hardware and software solutions have the answer.</p><p><blockquote>全球供应链在疫情期间承受了很大压力，因此，可以理解的是，许多公司将投资Zebra的技术作为优先事项。无论公司是希望投资仓库自动化生产，还是捕获数据以用于零售或医疗保健环境中的高级分析，Zebra的硬件和软件解决方案都能提供答案。</blockquote></p><p> As such, management expects adjusted net sales growth of 18% to 22% in 2021, having started the year forecasting 10% to 14%. Clearly, momentum is behind the company, and it's likely the expansion of smart automation and digitization in the industrial economy is going to encourage multi-year growth in sales of Zebra's solutions.</p><p><blockquote>因此，管理层预计2021年调整后净销售额增长18%至22%，年初预测为10%至14%。显然，该公司背后的势头很大，工业经济中智能自动化和数字化的扩展很可能会鼓励斑马解决方案销售额的多年增长。</blockquote></p><p> Trading on 31 times estimated 2021 earnings, Zebra wouldn't be seen as avalue stockby most. Still, investors should keep an eye out for its results because it wouldn't be a surprise to see Zebra upgrade guidance again, given the reopening economy.</p><p><blockquote>Zebra的市盈率是2021年预期市盈率的31倍，大多数人不会将其视为有价值的股票。尽管如此，投资者仍应密切关注其业绩，因为考虑到经济重新开放，斑马再次升级指引也就不足为奇了。</blockquote></p><p> Don't trash this dividend stock</p><p><blockquote>不要扔掉这只股息股票</blockquote></p><p> <b>Daniel Foelber (Waste Management):</b>You may want to keep your distance when passing one of the hundreds of landfills owned by Waste Management, North America's largest integrated trash and recycling services company. But the company's stock performance has left investors smelling like a rose. Waste Management stock is up over 20% so far this year and just blasted to a new all-time high last week.</p><p><blockquote><b>Daniel Foelber（废物管理）：</b>当经过北美最大的综合垃圾和回收服务公司Waste Management拥有的数百个垃圾填埋场中的一个时，你可能需要保持距离。但该公司的股票表现让投资者闻到了玫瑰的味道。今年迄今为止，废物管理公司的股票上涨了20%以上，上周刚刚创下历史新高。</blockquote></p><p> While trash and recycling are a steady business model that tends to perform in good times and bad, Waste Management generates a substantial amount of revenue from its industrial and commercial clients. As business slowed during the pandemic, these businesses naturally produced less waste, which presented a challenge. The company responded by implementing cost-cutting measures, many of whichit expects will be permanent.</p><p><blockquote>虽然垃圾和回收是一种稳定的商业模式，在顺境和逆境中都有表现，但废物管理从其工业和商业客户那里产生了大量收入。随着疫情期间业务放缓，这些企业自然产生的废物减少，这带来了挑战。该公司的回应是实施成本削减措施，预计其中许多措施将是永久性的。</blockquote></p><p> These strategic decisions along with its resilient and diversified customer base across a slew of different industries helped it generate plenty of free cash flow (FCF) and net incometo support its dividend. The company just raised its dividend for the 18th consecutive year andinstituted a new share buyback program. All told, the company plans to distribute nearly $1 billion in dividends and buy back up to $1.35 billion in stock this year.</p><p><blockquote>这些战略决策以及其在众多不同行业的弹性和多元化客户群帮助其产生了大量的自由现金流（FCF）和净利润来支持其股息。该公司刚刚连续第18年提高股息，并实施了新的股票回购计划。总而言之，该公司计划今年派发近10亿美元的股息，并回购高达13.5亿美元的股票。</blockquote></p><p> Waste Management has the potential to combine its stable andrecession resilientbusiness model with the upside of environmentally conscious consumers who are increasingly interested in limiting waste output. During a recent talk at WasteExpo 2021, CEO Jim Fish highlighted the role Waste Management could play in managing and providing the waste necessary for companies to produce plastics and chemicals from sustainably sourced materials. Converting this proposition to profit remains uncertain. But it's a nice long-term trend that's worth following.</p><p><blockquote>废物管理有潜力将其稳定且具有经济衰退弹性的商业模式与具有环保意识的消费者的优势相结合，这些消费者对限制废物产量越来越感兴趣。在WasteExpo 2021最近的一次演讲中，首席执行官Jim Fish强调了废物管理在管理和提供公司利用可持续来源的材料生产塑料和化学品所需的废物方面可以发挥的作用。将这一主张转化为利润仍不确定。但这是一个值得关注的良好长期趋势。</blockquote></p><p> <b>Hitch a ride with this EV superstar</b></p><p><blockquote><b>搭这位电动汽车巨星的便车</b></blockquote></p><p> <b>Scott Levine(NIO):</b>NIO sputtered along during the first five months of 2021, falling nearly 21%, but the company's stock has taken a U-turn over the past few weeks and is charging higher. In fact, shares of NIO soared nearly 38% inJune while the<b>S&P 500</b>crept more than 2% higher. And there's plenty of reason to believe that this EV manufacturer can continue racing ahead in the days to come.</p><p><blockquote><b>Scott Levine（蔚来）：</b>蔚来在2021年前五个月表现不佳，下跌了近21%，但该公司的股价在过去几周发生了180度大转弯，价格走高。事实上，蔚来股价6月份飙升近38%，而<b>标普500</b>涨幅超过2%。有充分的理由相信这家电动汽车制造商能够在未来的日子里继续领先。</blockquote></p><p></p><p> Inthe first quarter of 2021, NIO reported strong growth in the number of deliveries. Achieving a company quarterly record, NIO delivered 20,060 vehicles in the first quarter of the new year, representing year-over-year growth of 490%. But the record was short-lived. Last week, NIO announced that it delivered 21,896 vehicles, a year-over-year increase of 112%, in the second quarter, representing a new quarterly high-water mark.</p><p><blockquote>2021年第一季度，蔚来报告交付数量强劲增长。蔚来在新年第一季度交付了20,060辆汽车，同比增长490%，创下了公司季度纪录。但这一记录是短暂的。上周，蔚来宣布第二季度交付21,896辆汽车，同比增长112%，创下季度新高。</blockquote></p><p> Looking beyond the second quarter, investors will find that the company is working at expanding its charging infrastructure in China through 2021 -- a move that will help assuage the fears of potential customers who are worried about the convenience of charging their vehicles. As of the end of the first quarter, NIO had 206 battery swap stations, yet management forecasts expanding this to over 700 stations by the end of the year. In addition, the company, which had 146 charging stations in its network at the end of March, plans on growing this out to 600 charging stations by year-end.</p><p><blockquote>展望第二季度之后，投资者会发现该公司正在努力在2021年之前扩大其在中国的充电基础设施——此举将有助于缓解担心车辆充电便利性的潜在客户的担忧。截至第一季度末，蔚来拥有206个电池交换站，但管理层预计到今年年底将扩大到700多个。此外，该公司截至3月底的网络中拥有146个充电站，计划到年底将充电站增加到600个。</blockquote></p><p> Besides its efforts to grow its presence in China, NIO aspires to gain a foothold in Europe as well. Last month, the company announced it received approval for the production of its SUV, NIO ES8, including approval for the associated license registrations of the vehicle. The company plans to deliver the first vehicles to Norway, which will be NIO's first overseas market, in September.</p><p><blockquote>除了努力扩大在华业务，蔚来还渴望在欧洲站稳脚跟。上个月，该公司宣布其SUV蔚来ES8的生产已获得批准，包括该车相关牌照注册的批准。该公司计划于9月向挪威交付第一批车辆，挪威将成为蔚来的第一个海外市场。</blockquote></p><p> Providing customers in China with a variety of solutions for keeping their vehicles charged, NIO is aggressively addressing the range anxiety that plagues potential EV owners. It plans on bringing a similar suite of solutions to Europe when it begins deliveries of the vehicles -- something that is distinguishing it from its peers and which should help the company continue on the road to future growth.</p><p><blockquote>蔚来为中国客户提供各种车辆充电解决方案，积极解决困扰潜在电动汽车车主的里程焦虑。该公司计划在开始交付车辆时将一套类似的解决方案带到欧洲——这是其区别于同行的地方，也有助于该公司继续走上未来增长的道路。</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>3 Red-Hot Stocks That Could Continue to Crush the Market<blockquote>3只可能继续碾压市场的热门股票</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\">\n3 Red-Hot Stocks That Could Continue to Crush the Market<blockquote>3只可能继续碾压市场的热门股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-07-12 10:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p> <b>These growth and dividend stocks are thriving.</b> Economic recovery concerns and inflation worries have been no match for a smoking-hot stock market. Theindustrial sectoris helping to lead the charge. It sports a fair share of up-and-coming growth stocks, as well as large traditional businesses -- many of which are beating the market.</p><p><blockquote><b>这些成长型和股息型股票正在蓬勃发展。</b>经济复苏担忧和通胀担忧无法与炙手可热的股市相媲美。工业部门正在帮助引领潮流。它拥有相当多的新兴成长型股票以及大型传统企业，其中许多企业的表现优于市场。</blockquote></p><p> We asked some of our contributors which stocks they thought could continue to crush the market. They chose <b>Zebra Technologies</b>(NASDAQ:ZBRA),<b>Waste Management</b>(NYSE:WM), and <b>NIO</b>(NYSE:NIO).</p><p><blockquote>我们询问了一些撰稿人，他们认为哪些股票可能会继续碾压市场。他们选择了<b>斑马科技</b>（纳斯达克：ZBRA），<b>废物管理</b>（纽约证券交易所代码：WM），以及<b>蔚来</b>（纽约证券交易所代码：蔚来）。</blockquote></p><p> Zebra Technologies stands out from the crowd</p><p><blockquote>Zebra Technologies脱颖而出</blockquote></p><p> <b>Lee Samaha(Zebra Technologies):</b>Zebra's stock is up 111% over the last year and by 39% in 2021. That's a comfortable outperformance, and it comes as the company's technology has come to the fore during the pandemic.</p><p><blockquote><b>Lee Samaha（斑马科技）：</b>Zebra的股价去年上涨了111%，2021年上涨了39%。这是一个令人欣慰的优异表现，而且该公司的技术在大流行期间脱颖而出。</blockquote></p><p> Zebra is a manufacturer of what management calls \"enterprise asset intelligence\" solutions. In plain English, mobile computers, barcode scanners, specialty printers, RFID printers and readers, and other products are used by workers to gather information. Real-world examples of its technology include e-commerce warehouses using scanners to monitor workflows, retailers managing inventory, and healthcare workers tracking and tracing medical products.</p><p><blockquote>斑马是评级“企业资产智能”解决方案的制造商。简单地说，工人们使用移动计算机、条形码扫描仪、专业打印机、RFID打印机和阅读器以及其他产品来收集信息。其技术的现实例子包括使用扫描仪监控工作流程的电子商务仓库、管理库存的零售商以及跟踪和追踪医疗产品的医护人员。</blockquote></p><p> Global supply chains came under a lot of stress during the pandemic, so, understandably, many companies are making investments in Zebra's technologies a priority. Whether companies are looking to invest in automating production in a warehouse or capturing data to use with advanced analytics in a retail or healthcare environment, Zebra's hardware and software solutions have the answer.</p><p><blockquote>全球供应链在疫情期间承受了很大压力，因此，可以理解的是，许多公司将投资Zebra的技术作为优先事项。无论公司是希望投资仓库自动化生产，还是捕获数据以用于零售或医疗保健环境中的高级分析，Zebra的硬件和软件解决方案都能提供答案。</blockquote></p><p> As such, management expects adjusted net sales growth of 18% to 22% in 2021, having started the year forecasting 10% to 14%. Clearly, momentum is behind the company, and it's likely the expansion of smart automation and digitization in the industrial economy is going to encourage multi-year growth in sales of Zebra's solutions.</p><p><blockquote>因此，管理层预计2021年调整后净销售额增长18%至22%，年初预测为10%至14%。显然，该公司背后的势头很大，工业经济中智能自动化和数字化的扩展很可能会鼓励斑马解决方案销售额的多年增长。</blockquote></p><p> Trading on 31 times estimated 2021 earnings, Zebra wouldn't be seen as avalue stockby most. Still, investors should keep an eye out for its results because it wouldn't be a surprise to see Zebra upgrade guidance again, given the reopening economy.</p><p><blockquote>Zebra的市盈率是2021年预期市盈率的31倍，大多数人不会将其视为有价值的股票。尽管如此，投资者仍应密切关注其业绩，因为考虑到经济重新开放，斑马再次升级指引也就不足为奇了。</blockquote></p><p> Don't trash this dividend stock</p><p><blockquote>不要扔掉这只股息股票</blockquote></p><p> <b>Daniel Foelber (Waste Management):</b>You may want to keep your distance when passing one of the hundreds of landfills owned by Waste Management, North America's largest integrated trash and recycling services company. But the company's stock performance has left investors smelling like a rose. Waste Management stock is up over 20% so far this year and just blasted to a new all-time high last week.</p><p><blockquote><b>Daniel Foelber（废物管理）：</b>当经过北美最大的综合垃圾和回收服务公司Waste Management拥有的数百个垃圾填埋场中的一个时，你可能需要保持距离。但该公司的股票表现让投资者闻到了玫瑰的味道。今年迄今为止，废物管理公司的股票上涨了20%以上，上周刚刚创下历史新高。</blockquote></p><p> While trash and recycling are a steady business model that tends to perform in good times and bad, Waste Management generates a substantial amount of revenue from its industrial and commercial clients. As business slowed during the pandemic, these businesses naturally produced less waste, which presented a challenge. The company responded by implementing cost-cutting measures, many of whichit expects will be permanent.</p><p><blockquote>虽然垃圾和回收是一种稳定的商业模式，在顺境和逆境中都有表现，但废物管理从其工业和商业客户那里产生了大量收入。随着疫情期间业务放缓，这些企业自然产生的废物减少，这带来了挑战。该公司的回应是实施成本削减措施，预计其中许多措施将是永久性的。</blockquote></p><p> These strategic decisions along with its resilient and diversified customer base across a slew of different industries helped it generate plenty of free cash flow (FCF) and net incometo support its dividend. The company just raised its dividend for the 18th consecutive year andinstituted a new share buyback program. All told, the company plans to distribute nearly $1 billion in dividends and buy back up to $1.35 billion in stock this year.</p><p><blockquote>这些战略决策以及其在众多不同行业的弹性和多元化客户群帮助其产生了大量的自由现金流（FCF）和净利润来支持其股息。该公司刚刚连续第18年提高股息，并实施了新的股票回购计划。总而言之，该公司计划今年派发近10亿美元的股息，并回购高达13.5亿美元的股票。</blockquote></p><p> Waste Management has the potential to combine its stable andrecession resilientbusiness model with the upside of environmentally conscious consumers who are increasingly interested in limiting waste output. During a recent talk at WasteExpo 2021, CEO Jim Fish highlighted the role Waste Management could play in managing and providing the waste necessary for companies to produce plastics and chemicals from sustainably sourced materials. Converting this proposition to profit remains uncertain. But it's a nice long-term trend that's worth following.</p><p><blockquote>废物管理有潜力将其稳定且具有经济衰退弹性的商业模式与具有环保意识的消费者的优势相结合，这些消费者对限制废物产量越来越感兴趣。在WasteExpo 2021最近的一次演讲中，首席执行官Jim Fish强调了废物管理在管理和提供公司利用可持续来源的材料生产塑料和化学品所需的废物方面可以发挥的作用。将这一主张转化为利润仍不确定。但这是一个值得关注的良好长期趋势。</blockquote></p><p> <b>Hitch a ride with this EV superstar</b></p><p><blockquote><b>搭这位电动汽车巨星的便车</b></blockquote></p><p> <b>Scott Levine(NIO):</b>NIO sputtered along during the first five months of 2021, falling nearly 21%, but the company's stock has taken a U-turn over the past few weeks and is charging higher. In fact, shares of NIO soared nearly 38% inJune while the<b>S&P 500</b>crept more than 2% higher. And there's plenty of reason to believe that this EV manufacturer can continue racing ahead in the days to come.</p><p><blockquote><b>Scott Levine（蔚来）：</b>蔚来在2021年前五个月表现不佳，下跌了近21%，但该公司的股价在过去几周发生了180度大转弯，价格走高。事实上，蔚来股价6月份飙升近38%，而<b>标普500</b>涨幅超过2%。有充分的理由相信这家电动汽车制造商能够在未来的日子里继续领先。</blockquote></p><p></p><p> Inthe first quarter of 2021, NIO reported strong growth in the number of deliveries. Achieving a company quarterly record, NIO delivered 20,060 vehicles in the first quarter of the new year, representing year-over-year growth of 490%. But the record was short-lived. Last week, NIO announced that it delivered 21,896 vehicles, a year-over-year increase of 112%, in the second quarter, representing a new quarterly high-water mark.</p><p><blockquote>2021年第一季度，蔚来报告交付数量强劲增长。蔚来在新年第一季度交付了20,060辆汽车，同比增长490%，创下了公司季度纪录。但这一记录是短暂的。上周，蔚来宣布第二季度交付21,896辆汽车，同比增长112%，创下季度新高。</blockquote></p><p> Looking beyond the second quarter, investors will find that the company is working at expanding its charging infrastructure in China through 2021 -- a move that will help assuage the fears of potential customers who are worried about the convenience of charging their vehicles. As of the end of the first quarter, NIO had 206 battery swap stations, yet management forecasts expanding this to over 700 stations by the end of the year. In addition, the company, which had 146 charging stations in its network at the end of March, plans on growing this out to 600 charging stations by year-end.</p><p><blockquote>展望第二季度之后，投资者会发现该公司正在努力在2021年之前扩大其在中国的充电基础设施——此举将有助于缓解担心车辆充电便利性的潜在客户的担忧。截至第一季度末，蔚来拥有206个电池交换站，但管理层预计到今年年底将扩大到700多个。此外，该公司截至3月底的网络中拥有146个充电站，计划到年底将充电站增加到600个。</blockquote></p><p> Besides its efforts to grow its presence in China, NIO aspires to gain a foothold in Europe as well. Last month, the company announced it received approval for the production of its SUV, NIO ES8, including approval for the associated license registrations of the vehicle. The company plans to deliver the first vehicles to Norway, which will be NIO's first overseas market, in September.</p><p><blockquote>除了努力扩大在华业务，蔚来还渴望在欧洲站稳脚跟。上个月，该公司宣布其SUV蔚来ES8的生产已获得批准，包括该车相关牌照注册的批准。该公司计划于9月向挪威交付第一批车辆，挪威将成为蔚来的第一个海外市场。</blockquote></p><p> Providing customers in China with a variety of solutions for keeping their vehicles charged, NIO is aggressively addressing the range anxiety that plagues potential EV owners. It plans on bringing a similar suite of solutions to Europe when it begins deliveries of the vehicles -- something that is distinguishing it from its peers and which should help the company continue on the road to future growth.</p><p><blockquote>蔚来为中国客户提供各种车辆充电解决方案，积极解决困扰潜在电动汽车车主的里程焦虑。该公司计划在开始交付车辆时将一套类似的解决方案带到欧洲——这是其区别于同行的地方，也有助于该公司继续走上未来增长的道路。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/11/3-red-hot-stocks-that-could-continue-to-crush-the/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WM":"美国废物管理","ZBRA":"斑马技术","NIO":"蔚来"},"source_url":"https://www.fool.com/investing/2021/07/11/3-red-hot-stocks-that-could-continue-to-crush-the/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121762629","content_text":"These growth and dividend stocks are thriving.\n\nEconomic recovery concerns and inflation worries have been no match for a smoking-hot stock market. Theindustrial sectoris helping to lead the charge. It sports a fair share of up-and-coming growth stocks, as well as large traditional businesses -- many of which are beating the market.\nWe asked some of our contributors which stocks they thought could continue to crush the market. They chose Zebra Technologies(NASDAQ:ZBRA),Waste Management(NYSE:WM), and NIO(NYSE:NIO).\nZebra Technologies stands out from the crowd\nLee Samaha(Zebra Technologies):Zebra's stock is up 111% over the last year and by 39% in 2021. That's a comfortable outperformance, and it comes as the company's technology has come to the fore during the pandemic.\nZebra is a manufacturer of what management calls \"enterprise asset intelligence\" solutions. In plain English, mobile computers, barcode scanners, specialty printers, RFID printers and readers, and other products are used by workers to gather information. Real-world examples of its technology include e-commerce warehouses using scanners to monitor workflows, retailers managing inventory, and healthcare workers tracking and tracing medical products.\nGlobal supply chains came under a lot of stress during the pandemic, so, understandably, many companies are making investments in Zebra's technologies a priority. Whether companies are looking to invest in automating production in a warehouse or capturing data to use with advanced analytics in a retail or healthcare environment, Zebra's hardware and software solutions have the answer.\nAs such, management expects adjusted net sales growth of 18% to 22% in 2021, having started the year forecasting 10% to 14%. Clearly, momentum is behind the company, and it's likely the expansion of smart automation and digitization in the industrial economy is going to encourage multi-year growth in sales of Zebra's solutions.\nTrading on 31 times estimated 2021 earnings, Zebra wouldn't be seen as avalue stockby most. Still, investors should keep an eye out for its results because it wouldn't be a surprise to see Zebra upgrade guidance again, given the reopening economy.\nDon't trash this dividend stock\nDaniel Foelber (Waste Management):You may want to keep your distance when passing one of the hundreds of landfills owned by Waste Management, North America's largest integrated trash and recycling services company. But the company's stock performance has left investors smelling like a rose. Waste Management stock is up over 20% so far this year and just blasted to a new all-time high last week.\nWhile trash and recycling are a steady business model that tends to perform in good times and bad, Waste Management generates a substantial amount of revenue from its industrial and commercial clients. As business slowed during the pandemic, these businesses naturally produced less waste, which presented a challenge. The company responded by implementing cost-cutting measures, many of whichit expects will be permanent.\nThese strategic decisions along with its resilient and diversified customer base across a slew of different industries helped it generate plenty of free cash flow (FCF) and net incometo support its dividend. The company just raised its dividend for the 18th consecutive year andinstituted a new share buyback program. All told, the company plans to distribute nearly $1 billion in dividends and buy back up to $1.35 billion in stock this year.\nWaste Management has the potential to combine its stable andrecession resilientbusiness model with the upside of environmentally conscious consumers who are increasingly interested in limiting waste output. During a recent talk at WasteExpo 2021, CEO Jim Fish highlighted the role Waste Management could play in managing and providing the waste necessary for companies to produce plastics and chemicals from sustainably sourced materials. Converting this proposition to profit remains uncertain. But it's a nice long-term trend that's worth following.\nHitch a ride with this EV superstar\nScott Levine(NIO):NIO sputtered along during the first five months of 2021, falling nearly 21%, but the company's stock has taken a U-turn over the past few weeks and is charging higher. In fact, shares of NIO soared nearly 38% inJune while theS&P 500crept more than 2% higher. And there's plenty of reason to believe that this EV manufacturer can continue racing ahead in the days to come.\nInthe first quarter of 2021, NIO reported strong growth in the number of deliveries. Achieving a company quarterly record, NIO delivered 20,060 vehicles in the first quarter of the new year, representing year-over-year growth of 490%. But the record was short-lived. Last week, NIO announced that it delivered 21,896 vehicles, a year-over-year increase of 112%, in the second quarter, representing a new quarterly high-water mark.\nLooking beyond the second quarter, investors will find that the company is working at expanding its charging infrastructure in China through 2021 -- a move that will help assuage the fears of potential customers who are worried about the convenience of charging their vehicles. As of the end of the first quarter, NIO had 206 battery swap stations, yet management forecasts expanding this to over 700 stations by the end of the year. In addition, the company, which had 146 charging stations in its network at the end of March, plans on growing this out to 600 charging stations by year-end.\nBesides its efforts to grow its presence in China, NIO aspires to gain a foothold in Europe as well. Last month, the company announced it received approval for the production of its SUV, NIO ES8, including approval for the associated license registrations of the vehicle. The company plans to deliver the first vehicles to Norway, which will be NIO's first overseas market, in September.\nProviding customers in China with a variety of solutions for keeping their vehicles charged, NIO is aggressively addressing the range anxiety that plagues potential EV owners. It plans on bringing a similar suite of solutions to Europe when it begins deliveries of the vehicles -- something that is distinguishing it from its peers and which should help the company continue on the road to future growth.","news_type":1,"symbols_score_info":{"ZBRA":0.9,"NIO":0.9,"WM":0.9}},"isVote":1,"tweetType":1,"viewCount":1609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128038578,"gmtCreate":1624494921194,"gmtModify":1631888244059,"author":{"id":"4087111377660040","authorId":"4087111377660040","name":"LIMCHENGZU","avatar":"https://static.tigerbbs.com/43e678aa792b38b031003fe4d65fb7d9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087111377660040","idStr":"4087111377660040"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/128038578","repostId":"2145531099","repostType":4,"isVote":1,"tweetType":1,"viewCount":1168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128033781,"gmtCreate":1624494883143,"gmtModify":1631888244069,"author":{"id":"4087111377660040","authorId":"4087111377660040","name":"LIMCHENGZU","avatar":"https://static.tigerbbs.com/43e678aa792b38b031003fe4d65fb7d9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087111377660040","idStr":"4087111377660040"},"themes":[],"htmlText":"Because printing more money...","listText":"Because printing more money...","text":"Because printing more money...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/128033781","repostId":"1198462718","repostType":4,"repost":{"id":"1198462718","kind":"news","pubTimestamp":1624448358,"share":"https://www.laohu8.com/m/news/1198462718?lang=zh_CN&edition=full","pubTime":"2021-06-23 19:39","market":"us","language":"en","title":"Why U.S. stocks face a tough decade ahead even if corporate revenues are strong<blockquote>为什么即使企业收入强劲，美国股市仍将面临艰难的十年</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1198462718","media":"MarketWatch","summary":"Stock market’s return will grow at the same rate as the U.S. economy.\n\nMight there be hope, after al","content":"<p> <b>Stock market’s return will grow at the same rate as the U.S. economy.</b> Might there be hope, after all, for the U.S. stock market’s return over the next decade? I ask as a follow up tomy column earlier this monthin which I concluded that even under optimistic assumptions, the S&P 500SPX,+0.51%over the next 10 years is unlikely to produce an annualized total real return greater than the low single-digits.</p><p><blockquote><b>股市的回报将与美国经济的增长速度相同。</b>毕竟，美国股市在未来十年的回归还有希望吗？我在本月早些时候的专栏中提出了这个问题，我在该专栏中得出的结论是，即使在乐观的假设下，未来10年标准普尔500SPX指数+0.51%也不太可能产生高于低个位数的年化总实际回报率。</blockquote></p><p> My argument was that the stock market will not be able to count on the three pillars that have propped it up over the past decade — increasing valuations, profit margins and more buybacks than new shares issued (net buybacks).</p><p><blockquote>我的论点是，股市将无法依靠过去十年支撑它的三大支柱——估值、利润率和比新股发行更多的回购（净回购）。</blockquote></p><p> Some readers responded that I had overlooked an escape hatch which would enable the market to produce decent returns: corporate revenues can grow faster than the overall U.S. economy. To the extent this is so, then the stock market does not need any of those three pillars to do well.</p><p><blockquote>一些读者回应说，我忽略了一个可以让市场产生可观回报的出口：企业收入的增长速度可以快于美国整体经济。如果是这样的话，那么股市就不需要这三大支柱中的任何一个就能表现良好。</blockquote></p><p> This escape hatch appears to have solid evidence behind it. Consider a recent note to clients from Jonathan Golub, chief U.S. equity strategist and head of quantitative research at Credit Suisse. He reported that, according to an econometric model he constructed based on S&P 500 sales and GDP since 2000, “every 1% upside in nominal GDP drives 2½–3% improvement in revenues.”</p><p><blockquote>这个逃生舱门背后似乎有确凿的证据。考虑一下瑞士信贷首席美国股票策略师兼量化研究主管乔纳森·戈卢布(Jonathan Golub)最近给客户的一份报告。他报告说，根据他基于2000年以来标普500销售额和GDP构建的计量经济学模型，“名义GDP每上涨1%，收入就会增加2.5-3%。”</blockquote></p><p> If so, this certainly would be good for stock investors. It would mean that even without increasing valuations, profit margins or net buybacks, the stock market could significantly outperform the overall economy.</p><p><blockquote>如果是这样，这对股票投资者来说肯定是件好事。这意味着，即使没有提高估值、利润率或净回购，股市也可能大幅跑赢整体经济。</blockquote></p><p> Unfortunately, this argument is too good to be true. I analyzed S&P 500 sales back to the early 1970s (courtesy of data from Ned Davis Research), and found almost a 1:1 correlation between sales growth and GDP growth.</p><p><blockquote>不幸的是，这个论点好得令人难以置信。我分析了20世纪70年代初的标普500销售额（由Ned Davis Research提供的数据），发现销售额增长和GDP增长之间几乎是1：1的相关性。</blockquote></p><p> This is entirely what we should expect, according to Robert Arnott, chairman and founder of Research Affiliates. In an email, he said that “aggregate sales should offer a pretty clean 1:1 relationship to GDP. Any other ratio makes no sense on a sustained basis.”</p><p><blockquote>Research Affiliates董事长兼创始人罗伯特·阿诺特(Robert Arnott)表示，这完全是我们应该期待的。他在一封电子邮件中表示，“总销售额与GDP应该呈现出相当干净的1：1关系。任何其他比率在持续的基础上都没有意义。”</blockquote></p><p> How then did Golub come up with such a different answer? My hunch is that it traces to how he measured sales. In an email, Golub’s colleague Manish Bangard, an equity strategist at Credit Suisse, explained that they focused on sales per share. But, as Arnott points out, this per-share number reflects the impact of net buybacks. So the high sales-to-GDP ratio that Golub reports is not a pure measure of how sales growth relates to GDP. (I did not receive a response to my requests for additional comment.)</p><p><blockquote>那么，戈卢布是如何得出如此不同的答案的呢？我的直觉是，这可以追溯到他如何衡量销售额。在一封电子邮件中，Golub的同事、瑞士信贷股票策略师Manish Bangard解释说，他们关注的是每股销售额。但是，正如阿诺特指出的那样，这个每股数字反映了净回购的影响。因此，Golub报告的高销售额与GDP之比并不是销售增长与GDP关系的纯粹衡量标准。（我没有收到对我的补充评论请求的回应。）</blockquote></p><p> <b>Investment implication</b></p><p><blockquote><b>投资影响</b></blockquote></p><p> The implication is that we should not expect the U.S. stock market over the next decade to grow faster than the economy. It may in fact grow much more slowly if P/E ratios or profit margins regress even partway to their historical mean, or if net buybacks turn out to be negative (as they’ve been for most of U.S. history).</p><p><blockquote>这意味着我们不应该期望未来十年美国股市的增长速度快于经济。事实上，如果市盈率或利润率倒退到历史平均水平的一部分，或者如果净回购结果为负（就像美国历史上的大部分时间一样），它的增长可能会慢得多。</blockquote></p><p> But even if P/E ratios and profit margins stay constant between now and 2031 and there are no net buybacks, the lesson of history is that the U.S. market will grow no faster than the economy.</p><p><blockquote>但即使从现在到2031年，市盈率和利润率保持不变，并且没有净回购，历史的教训是，美国市场的增长速度也不会快于经济。</blockquote></p><p> Consider what that means. TheCongressional Budget Office is projectingthat real GDP from 2022 through 2031 will grow at a 1.8% annualized rate. Even that may be optimistic, because the CBO projects no recession between now and then.</p><p><blockquote>想想这意味着什么。国会预算办公室预计，2022年至2031年实际GDP将以1.8%的年化增长率增长。即使这样也可能是乐观的，因为CBO预计从现在到那时不会出现衰退。</blockquote></p><p> The bottom line: The stock market has its work cut out to produce even a fraction of the past decade’s fabulous return.</p><p><blockquote>底线是：股市还有很多工作要做，即使是过去十年惊人回报的一小部分。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why U.S. stocks face a tough decade ahead even if corporate revenues are strong<blockquote>为什么即使企业收入强劲，美国股市仍将面临艰难的十年</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\">\nWhy U.S. stocks face a tough decade ahead even if corporate revenues are strong<blockquote>为什么即使企业收入强劲，美国股市仍将面临艰难的十年</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-23 19:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p> <b>Stock market’s return will grow at the same rate as the U.S. economy.</b> Might there be hope, after all, for the U.S. stock market’s return over the next decade? I ask as a follow up tomy column earlier this monthin which I concluded that even under optimistic assumptions, the S&P 500SPX,+0.51%over the next 10 years is unlikely to produce an annualized total real return greater than the low single-digits.</p><p><blockquote><b>股市的回报将与美国经济的增长速度相同。</b>毕竟，美国股市在未来十年的回归还有希望吗？我在本月早些时候的专栏中提出了这个问题，我在该专栏中得出的结论是，即使在乐观的假设下，未来10年标准普尔500SPX指数+0.51%也不太可能产生高于低个位数的年化总实际回报率。</blockquote></p><p> My argument was that the stock market will not be able to count on the three pillars that have propped it up over the past decade — increasing valuations, profit margins and more buybacks than new shares issued (net buybacks).</p><p><blockquote>我的论点是，股市将无法依靠过去十年支撑它的三大支柱——估值、利润率和比新股发行更多的回购（净回购）。</blockquote></p><p> Some readers responded that I had overlooked an escape hatch which would enable the market to produce decent returns: corporate revenues can grow faster than the overall U.S. economy. To the extent this is so, then the stock market does not need any of those three pillars to do well.</p><p><blockquote>一些读者回应说，我忽略了一个可以让市场产生可观回报的出口：企业收入的增长速度可以快于美国整体经济。如果是这样的话，那么股市就不需要这三大支柱中的任何一个就能表现良好。</blockquote></p><p> This escape hatch appears to have solid evidence behind it. Consider a recent note to clients from Jonathan Golub, chief U.S. equity strategist and head of quantitative research at Credit Suisse. He reported that, according to an econometric model he constructed based on S&P 500 sales and GDP since 2000, “every 1% upside in nominal GDP drives 2½–3% improvement in revenues.”</p><p><blockquote>这个逃生舱门背后似乎有确凿的证据。考虑一下瑞士信贷首席美国股票策略师兼量化研究主管乔纳森·戈卢布(Jonathan Golub)最近给客户的一份报告。他报告说，根据他基于2000年以来标普500销售额和GDP构建的计量经济学模型，“名义GDP每上涨1%，收入就会增加2.5-3%。”</blockquote></p><p> If so, this certainly would be good for stock investors. It would mean that even without increasing valuations, profit margins or net buybacks, the stock market could significantly outperform the overall economy.</p><p><blockquote>如果是这样，这对股票投资者来说肯定是件好事。这意味着，即使没有提高估值、利润率或净回购，股市也可能大幅跑赢整体经济。</blockquote></p><p> Unfortunately, this argument is too good to be true. I analyzed S&P 500 sales back to the early 1970s (courtesy of data from Ned Davis Research), and found almost a 1:1 correlation between sales growth and GDP growth.</p><p><blockquote>不幸的是，这个论点好得令人难以置信。我分析了20世纪70年代初的标普500销售额（由Ned Davis Research提供的数据），发现销售额增长和GDP增长之间几乎是1：1的相关性。</blockquote></p><p> This is entirely what we should expect, according to Robert Arnott, chairman and founder of Research Affiliates. In an email, he said that “aggregate sales should offer a pretty clean 1:1 relationship to GDP. Any other ratio makes no sense on a sustained basis.”</p><p><blockquote>Research Affiliates董事长兼创始人罗伯特·阿诺特(Robert Arnott)表示，这完全是我们应该期待的。他在一封电子邮件中表示，“总销售额与GDP应该呈现出相当干净的1：1关系。任何其他比率在持续的基础上都没有意义。”</blockquote></p><p> How then did Golub come up with such a different answer? My hunch is that it traces to how he measured sales. In an email, Golub’s colleague Manish Bangard, an equity strategist at Credit Suisse, explained that they focused on sales per share. But, as Arnott points out, this per-share number reflects the impact of net buybacks. So the high sales-to-GDP ratio that Golub reports is not a pure measure of how sales growth relates to GDP. (I did not receive a response to my requests for additional comment.)</p><p><blockquote>那么，戈卢布是如何得出如此不同的答案的呢？我的直觉是，这可以追溯到他如何衡量销售额。在一封电子邮件中，Golub的同事、瑞士信贷股票策略师Manish Bangard解释说，他们关注的是每股销售额。但是，正如阿诺特指出的那样，这个每股数字反映了净回购的影响。因此，Golub报告的高销售额与GDP之比并不是销售增长与GDP关系的纯粹衡量标准。（我没有收到对我的补充评论请求的回应。）</blockquote></p><p> <b>Investment implication</b></p><p><blockquote><b>投资影响</b></blockquote></p><p> The implication is that we should not expect the U.S. stock market over the next decade to grow faster than the economy. It may in fact grow much more slowly if P/E ratios or profit margins regress even partway to their historical mean, or if net buybacks turn out to be negative (as they’ve been for most of U.S. history).</p><p><blockquote>这意味着我们不应该期望未来十年美国股市的增长速度快于经济。事实上，如果市盈率或利润率倒退到历史平均水平的一部分，或者如果净回购结果为负（就像美国历史上的大部分时间一样），它的增长可能会慢得多。</blockquote></p><p> But even if P/E ratios and profit margins stay constant between now and 2031 and there are no net buybacks, the lesson of history is that the U.S. market will grow no faster than the economy.</p><p><blockquote>但即使从现在到2031年，市盈率和利润率保持不变，并且没有净回购，历史的教训是，美国市场的增长速度也不会快于经济。</blockquote></p><p> Consider what that means. TheCongressional Budget Office is projectingthat real GDP from 2022 through 2031 will grow at a 1.8% annualized rate. Even that may be optimistic, because the CBO projects no recession between now and then.</p><p><blockquote>想想这意味着什么。国会预算办公室预计，2022年至2031年实际GDP将以1.8%的年化增长率增长。即使这样也可能是乐观的，因为CBO预计从现在到那时不会出现衰退。</blockquote></p><p> The bottom line: The stock market has its work cut out to produce even a fraction of the past decade’s fabulous return.</p><p><blockquote>底线是：股市还有很多工作要做，即使是过去十年惊人回报的一小部分。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/why-u-s-stocks-face-a-tough-decade-ahead-even-if-corporate-revenues-are-strong-11624429824?siteid=yhoof2\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/why-u-s-stocks-face-a-tough-decade-ahead-even-if-corporate-revenues-are-strong-11624429824?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198462718","content_text":"Stock market’s return will grow at the same rate as the U.S. economy.\n\nMight there be hope, after all, for the U.S. stock market’s return over the next decade? I ask as a follow up tomy column earlier this monthin which I concluded that even under optimistic assumptions, the S&P 500SPX,+0.51%over the next 10 years is unlikely to produce an annualized total real return greater than the low single-digits.\nMy argument was that the stock market will not be able to count on the three pillars that have propped it up over the past decade — increasing valuations, profit margins and more buybacks than new shares issued (net buybacks).\nSome readers responded that I had overlooked an escape hatch which would enable the market to produce decent returns: corporate revenues can grow faster than the overall U.S. economy. To the extent this is so, then the stock market does not need any of those three pillars to do well.\nThis escape hatch appears to have solid evidence behind it. Consider a recent note to clients from Jonathan Golub, chief U.S. equity strategist and head of quantitative research at Credit Suisse. He reported that, according to an econometric model he constructed based on S&P 500 sales and GDP since 2000, “every 1% upside in nominal GDP drives 2½–3% improvement in revenues.”\nIf so, this certainly would be good for stock investors. It would mean that even without increasing valuations, profit margins or net buybacks, the stock market could significantly outperform the overall economy.\nUnfortunately, this argument is too good to be true. I analyzed S&P 500 sales back to the early 1970s (courtesy of data from Ned Davis Research), and found almost a 1:1 correlation between sales growth and GDP growth.\nThis is entirely what we should expect, according to Robert Arnott, chairman and founder of Research Affiliates. In an email, he said that “aggregate sales should offer a pretty clean 1:1 relationship to GDP. Any other ratio makes no sense on a sustained basis.”\nHow then did Golub come up with such a different answer? My hunch is that it traces to how he measured sales. In an email, Golub’s colleague Manish Bangard, an equity strategist at Credit Suisse, explained that they focused on sales per share. But, as Arnott points out, this per-share number reflects the impact of net buybacks. So the high sales-to-GDP ratio that Golub reports is not a pure measure of how sales growth relates to GDP. (I did not receive a response to my requests for additional comment.)\nInvestment implication\nThe implication is that we should not expect the U.S. stock market over the next decade to grow faster than the economy. It may in fact grow much more slowly if P/E ratios or profit margins regress even partway to their historical mean, or if net buybacks turn out to be negative (as they’ve been for most of U.S. history).\nBut even if P/E ratios and profit margins stay constant between now and 2031 and there are no net buybacks, the lesson of history is that the U.S. market will grow no faster than the economy.\nConsider what that means. TheCongressional Budget Office is projectingthat real GDP from 2022 through 2031 will grow at a 1.8% annualized rate. Even that may be optimistic, because the CBO projects no recession between now and then.\nThe bottom line: The stock market has its work cut out to produce even a fraction of the past decade’s fabulous return.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129737820,"gmtCreate":1624392664460,"gmtModify":1631888244080,"author":{"id":"4087111377660040","authorId":"4087111377660040","name":"LIMCHENGZU","avatar":"https://static.tigerbbs.com/43e678aa792b38b031003fe4d65fb7d9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087111377660040","idStr":"4087111377660040"},"themes":[],"htmlText":"time to buy?","listText":"time to buy?","text":"time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129737820","repostId":"1190428306","repostType":4,"isVote":1,"tweetType":1,"viewCount":1107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129930008,"gmtCreate":1624350074304,"gmtModify":1631888244093,"author":{"id":"4087111377660040","authorId":"4087111377660040","name":"LIMCHENGZU","avatar":"https://static.tigerbbs.com/43e678aa792b38b031003fe4d65fb7d9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087111377660040","idStr":"4087111377660040"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129930008","repostId":"1100733883","repostType":4,"isVote":1,"tweetType":1,"viewCount":1361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166551594,"gmtCreate":1624019386118,"gmtModify":1631885284560,"author":{"id":"4087111377660040","authorId":"4087111377660040","name":"LIMCHENGZU","avatar":"https://static.tigerbbs.com/43e678aa792b38b031003fe4d65fb7d9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087111377660040","idStr":"4087111377660040"},"themes":[],"htmlText":"Goldman usually make the wrong guess [捂脸] ","listText":"Goldman usually make the wrong guess [捂脸] ","text":"Goldman usually make the wrong guess [捂脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166551594","repostId":"1131081247","repostType":4,"repost":{"id":"1131081247","kind":"news","pubTimestamp":1624019171,"share":"https://www.laohu8.com/m/news/1131081247?lang=zh_CN&edition=full","pubTime":"2021-06-18 20:26","market":"fut","language":"en","title":"Goldman sees Fed-driven dip in commodities as a 'buying opportunity'<blockquote>高盛将美联储推动的大宗商品下跌视为“买入机会”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131081247","media":"Reuters","summary":"(Reuters) - Goldman Sachs said on Friday the recent slip in commodities prices driven by the U.S. Fe","content":"<p>(Reuters) - Goldman Sachs said on Friday the recent slip in commodities prices driven by the U.S. Federal Reserve’s decision to bring forward projections for interest rate hikes into 2023 was a buying opportunity for investors.</p><p><blockquote>（路透社）-高盛周五表示，美联储决定将加息预测提前至2023年，导致大宗商品价格近期下滑，这对投资者来说是一个买入机会。</blockquote></p><p> “The bullish commodity thesis is neither about inflation risks nor Fed forward guidance. It is about scarcity and strong physical demand,” the Wall Street bank said in a note.</p><p><blockquote>这家华尔街银行在一份报告中表示：“看涨大宗商品的论点既不是关于通胀风险，也不是关于美联储的前瞻性指引。而是关于稀缺性和强劲的实物需求。”</blockquote></p><p> Physical scarcity, caused by robust demand growth and inelastic supply, could drive Brent crude oil prices to average $80 in the third quarter, with potential spikes above that level, Goldman analysts wrote.</p><p><blockquote>高盛分析师写道，强劲的需求增长和缺乏弹性的供应造成的实物稀缺可能会推动布伦特原油价格在第三季度平均达到80美元，并有可能飙升至该水平以上。</blockquote></p><p> Prices of commodities including oil, gold and copper fell as the U.S. dollar surged on the Federal Reserve’s outlook on interest rate hikes.</p><p><blockquote>包括石油、黄金和铜在内的大宗商品价格下跌，因美联储加息前景导致美元飙升。</blockquote></p><p> But oil prices were still close to multi-year highs, while gold has since seen a slight rebound, and copper was en route to its biggest weekly decline since March 2020.</p><p><blockquote>但油价仍接近多年高点，而金价此后小幅反弹，铜价有望创下2020年3月以来的最大单周跌幅。</blockquote></p><p> The copper market also remains on course for deficit conditions both over the remainder of this year and into 2022, the bank said, adding recent dips should be viewed as a longer-term buying opportunity.</p><p><blockquote>该行表示，铜市场在今年剩余时间和2022年仍将处于赤字状态，并补充说近期的下跌应被视为长期买入机会。</blockquote></p><p> A recovery in commodities markets excluding energy markets, however, is likely to be slower than from recent sell-offs as transient shocks from weather and Chinese-mandated repositioning have generated negative technical breakthroughs, Goldman warned.</p><p><blockquote>然而，高盛警告称，由于天气和中国强制重新定位的短暂冲击产生了负面的技术突破，不包括能源市场在内的大宗商品市场的复苏可能会慢于最近的抛售。</blockquote></p><p> Earlier this month, China’s state planner renewed a pledge to step up monitoring of commodity prices and strengthen supervision of spot and futures markets, as producer inflation in the country hit over 12 year-highs.</p><p><blockquote>本月早些时候，中国国家规划者再次承诺加强对大宗商品价格的监控，并加强对现货和期货市场的监管，因为中国的生产者通胀创下了12年来的新高。</blockquote></p><p> Goldman also viewed gold as under-valued relative to both real and nominal fundamentals.</p><p><blockquote>高盛还认为，相对于实际和名义基本面，黄金被低估。</blockquote></p><p> “In fact, gold is now pricing a Goldilocks scenario of strong growth without any inflation, implying limited demand for it as either a defensive asset or inflation hedge.”</p><p><blockquote>“事实上，黄金现在定价的是在没有任何通胀的情况下强劲增长的金发姑娘情景，这意味着对其作为防御性资产或通胀对冲的需求有限。”</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>Goldman sees Fed-driven dip in commodities as a 'buying opportunity'<blockquote>高盛将美联储推动的大宗商品下跌视为“买入机会”</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\">\nGoldman sees Fed-driven dip in commodities as a 'buying opportunity'<blockquote>高盛将美联储推动的大宗商品下跌视为“买入机会”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-06-18 20:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) - Goldman Sachs said on Friday the recent slip in commodities prices driven by the U.S. Federal Reserve’s decision to bring forward projections for interest rate hikes into 2023 was a buying opportunity for investors.</p><p><blockquote>（路透社）-高盛周五表示，美联储决定将加息预测提前至2023年，导致大宗商品价格近期下滑，这对投资者来说是一个买入机会。</blockquote></p><p> “The bullish commodity thesis is neither about inflation risks nor Fed forward guidance. It is about scarcity and strong physical demand,” the Wall Street bank said in a note.</p><p><blockquote>这家华尔街银行在一份报告中表示：“看涨大宗商品的论点既不是关于通胀风险，也不是关于美联储的前瞻性指引。而是关于稀缺性和强劲的实物需求。”</blockquote></p><p> Physical scarcity, caused by robust demand growth and inelastic supply, could drive Brent crude oil prices to average $80 in the third quarter, with potential spikes above that level, Goldman analysts wrote.</p><p><blockquote>高盛分析师写道，强劲的需求增长和缺乏弹性的供应造成的实物稀缺可能会推动布伦特原油价格在第三季度平均达到80美元，并有可能飙升至该水平以上。</blockquote></p><p> Prices of commodities including oil, gold and copper fell as the U.S. dollar surged on the Federal Reserve’s outlook on interest rate hikes.</p><p><blockquote>包括石油、黄金和铜在内的大宗商品价格下跌，因美联储加息前景导致美元飙升。</blockquote></p><p> But oil prices were still close to multi-year highs, while gold has since seen a slight rebound, and copper was en route to its biggest weekly decline since March 2020.</p><p><blockquote>但油价仍接近多年高点，而金价此后小幅反弹，铜价有望创下2020年3月以来的最大单周跌幅。</blockquote></p><p> The copper market also remains on course for deficit conditions both over the remainder of this year and into 2022, the bank said, adding recent dips should be viewed as a longer-term buying opportunity.</p><p><blockquote>该行表示，铜市场在今年剩余时间和2022年仍将处于赤字状态，并补充说近期的下跌应被视为长期买入机会。</blockquote></p><p> A recovery in commodities markets excluding energy markets, however, is likely to be slower than from recent sell-offs as transient shocks from weather and Chinese-mandated repositioning have generated negative technical breakthroughs, Goldman warned.</p><p><blockquote>然而，高盛警告称，由于天气和中国强制重新定位的短暂冲击产生了负面的技术突破，不包括能源市场在内的大宗商品市场的复苏可能会慢于最近的抛售。</blockquote></p><p> Earlier this month, China’s state planner renewed a pledge to step up monitoring of commodity prices and strengthen supervision of spot and futures markets, as producer inflation in the country hit over 12 year-highs.</p><p><blockquote>本月早些时候，中国国家规划者再次承诺加强对大宗商品价格的监控，并加强对现货和期货市场的监管，因为中国的生产者通胀创下了12年来的新高。</blockquote></p><p> Goldman also viewed gold as under-valued relative to both real and nominal fundamentals.</p><p><blockquote>高盛还认为，相对于实际和名义基本面，黄金被低估。</blockquote></p><p> “In fact, gold is now pricing a Goldilocks scenario of strong growth without any inflation, implying limited demand for it as either a defensive asset or inflation hedge.”</p><p><blockquote>“事实上，黄金现在定价的是在没有任何通胀的情况下强劲增长的金发姑娘情景，这意味着对其作为防御性资产或通胀对冲的需求有限。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/commodities-research-goldman/goldman-sees-fed-driven-dip-in-commodities-as-a-buying-opportunity-idUSL3N2O02QT\">Reuters</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":{"GS":"高盛"},"source_url":"https://www.reuters.com/article/commodities-research-goldman/goldman-sees-fed-driven-dip-in-commodities-as-a-buying-opportunity-idUSL3N2O02QT","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131081247","content_text":"(Reuters) - Goldman Sachs said on Friday the recent slip in commodities prices driven by the U.S. Federal Reserve’s decision to bring forward projections for interest rate hikes into 2023 was a buying opportunity for investors.\n“The bullish commodity thesis is neither about inflation risks nor Fed forward guidance. It is about scarcity and strong physical demand,” the Wall Street bank said in a note.\nPhysical scarcity, caused by robust demand growth and inelastic supply, could drive Brent crude oil prices to average $80 in the third quarter, with potential spikes above that level, Goldman analysts wrote.\nPrices of commodities including oil, gold and copper fell as the U.S. dollar surged on the Federal Reserve’s outlook on interest rate hikes.\nBut oil prices were still close to multi-year highs, while gold has since seen a slight rebound, and copper was en route to its biggest weekly decline since March 2020.\nThe copper market also remains on course for deficit conditions both over the remainder of this year and into 2022, the bank said, adding recent dips should be viewed as a longer-term buying opportunity.\nA recovery in commodities markets excluding energy markets, however, is likely to be slower than from recent sell-offs as transient shocks from weather and Chinese-mandated repositioning have generated negative technical breakthroughs, Goldman warned.\nEarlier this month, China’s state planner renewed a pledge to step up monitoring of commodity prices and strengthen supervision of spot and futures markets, as producer inflation in the country hit over 12 year-highs.\nGoldman also viewed gold as under-valued relative to both real and nominal fundamentals.\n“In fact, gold is now pricing a Goldilocks scenario of strong growth without any inflation, implying limited demand for it as either a defensive asset or inflation hedge.”","news_type":1,"symbols_score_info":{"GS":0.9}},"isVote":1,"tweetType":1,"viewCount":1623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"defaultTab":"posts","isTTM":false}