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A_LIUYINGJIA

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- A_LIUYINGJIAA_LIUYINGJIA
  ·2021-05-17
  Oops
  Coinbase drops more than 7%, falls below $250 offering price
  5月17日消息，Coinbase跌超7%，现报239.56美元，跌破250美元发行价。比特币今日一度下破43000美元/枚，为2月9日以来首次，截止发稿，比特币报价44929.2美元/枚，跌幅达7.8
  Coinbase drops more than 7%, falls below $250 offering price
  2.12K Comment
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- A_LIUYINGJIAA_LIUYINGJIA
  ·2021-05-04
  Wa
  Under Armour rose more than 4% before the market, and its first-quarter results exceeded expectations
  5月4日，美国运动服装制造商Under Armour(UAA.N)发布一季度财报：第一季度净营收13亿美元，市场预估11.3亿美元；第一季度调整后每股收益16美分，市场预估4.0美分。公司上调本财年调
  Under Armour rose more than 4% before the market, and its first-quarter results exceeded expectations
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- A_LIUYINGJIAA_LIUYINGJIA
  ·2021-05-03
  May day..
  Sorry, this post has been deleted
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- A_LIUYINGJIAA_LIUYINGJIA
  ·2021-04-30
  Wow
  Sorry, this post has been deleted
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- A_LIUYINGJIAA_LIUYINGJIA
  ·2021-02-18
  ?
  Four reasons support that U.S. stocks may really have no bubble
  根据著名的“巴菲特指标”，美股当下的估值已经达到了历史最高点，泡沫的气息已经非常浓烈了，可是市场却依然在持续上涨，丝毫不见泡沫破灭的样子，那么，投资者到底该何去何从？腾讯证券讯根据著名的“巴菲特
  Four reasons support that U.S. stocks may really have no bubble
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22:03","market":"us","language":"zh","title":"Coinbase drops more than 7%, falls below $250 offering price","url":"https://stock-news.laohu8.com/highlight/detail?id=1193073364","media":"老虎资讯综合","summary":"5月17日消息，Coinbase跌超7%，现报239.56美元，跌破250美元发行价。比特币今日一度下破43000美元/枚，为2月9日以来首次，截止发稿，比特币报价44929.2美元/枚，跌幅达7.8","content":"<p>May 17th news,<a href=\"https://laohu8.com/S/COIN\">Coinbase</a>It fell by more than 7% and is now traded at $239.56, below the issue price of $250. Bitcoin once broke $43,000/coin today, for the first time since February 9th. As of press time, Bitcoin quoted $44,929.2/coin, down 7.89%</p><p><img src=\"https://static.tigerbbs.com/1bd17fbd00e3756d94bf20e3ec83e7f3\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Founded in 2012, Coinbase is one of the largest digital currency exchanges in the world, covering more than 100 countries and regions around the world. Currently, the company has 56 million users. The company's main business is to help investors trade, store or borrow cryptocurrency.</p><p>In addition, the company also has a proprietary business, that is, buying digital currencies to profit through price changes. The company's main products include Bitcoin and Ethereum. 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According to the financial report, in the first quarter of 2021, the company's total revenue was about $1.8 billion, compared with just $191 million in the same period last year; Net revenue was $1.6 billion, including $1.5 billion in trading revenue and $56.4 million in subscription and services revenue; Net profit was US$771 million, an increase of more than 23 times compared with US$31.973 million in the same period of last year; Basic earnings per share were $3.8 and diluted earnings per share were $3.05.</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>Coinbase drops more than 7%, falls below $250 offering price</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\">\nCoinbase drops more than 7%, falls below $250 offering price\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-05-17 22:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>May 17th news,<a href=\"https://laohu8.com/S/COIN\">Coinbase</a>It fell by more than 7% and is now traded at $239.56, below the issue price of $250. Bitcoin once broke $43,000/coin today, for the first time since February 9th. As of press time, Bitcoin quoted $44,929.2/coin, down 7.89%</p><p><img src=\"https://static.tigerbbs.com/1bd17fbd00e3756d94bf20e3ec83e7f3\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Founded in 2012, Coinbase is one of the largest digital currency exchanges in the world, covering more than 100 countries and regions around the world. Currently, the company has 56 million users. The company's main business is to help investors trade, store or borrow cryptocurrency.</p><p>In addition, the company also has a proprietary business, that is, buying digital currencies to profit through price changes. The company's main products include Bitcoin and Ethereum. On April 14 of this year, the company listed on the Nasdaq under the ticker symbol \"COIN\".</p><p>Foreign media said that the strong market demand for cryptocurrencies such as Bitcoin and Dogecoin will be crucial to the development of Coinbase, because more than 90% of the company's revenue comes from crypto trading transaction fees.</p><p>After the market closed on Thursday last week, Coinbase reported its first earnings since going public. According to the financial report, in the first quarter of 2021, the company's total revenue was about $1.8 billion, compared with just $191 million in the same period last year; Net revenue was $1.6 billion, including $1.5 billion in trading revenue and $56.4 million in subscription and services revenue; Net profit was US$771 million, an increase of more than 23 times compared with US$31.973 million in the same period of last year; Basic earnings per share were $3.8 and diluted earnings per share were $3.05.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{"COIN":"Coinbase Global, Inc."},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193073364","content_text":"5月17日消息，Coinbase跌超7%，现报239.56美元，跌破250美元发行价。比特币今日一度下破43000美元/枚，为2月9日以来首次，截止发稿，比特币报价44929.2美元/枚，跌幅达7.89%Coinbase成立于2012年，是全世界最大的数字货币交易所之一，业务覆盖全球100多个国家和地区。目前，该公司拥有5600万用户。该公司的主营业务是帮助投资人交易、存储或者借入加密货币。此外，该公司也有自营业务，即买入数字货币，通过价格变化牟利，该公司的主要产品包括比特币和以太币。今年4月14日，该公司在纳斯达克挂牌上市，股票代码为“COIN”。外媒称，市场对比特币和狗狗币等加密货币的强劲需求将对Coinbase的发展至关重要，因为该公司90%以上的收入来自加密交易交易费用。上周周四收盘后，Coinbase公布了上市以来的首份财报。财报显示，2021年第一季度，该公司的总营收约为18亿美元，而上年同期仅为1.91亿美元；净营收为16亿美元，其中交易营收为15亿美元，订阅和服务营收为5640万美元；净利润为7.71亿美元，与上年同期的3197.3万美元相比增长超23倍；基本每股收益为3.8美元，摊薄后每股收益为3.05美元。","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":2117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106411409,"gmtCreate":1620138763001,"gmtModify":1704339209000,"author":{"id":"3575537075359506","authorId":"3575537075359506","name":"A_LIUYINGJIA","avatar":"https://static.tigerbbs.com/853af30823e76e3e215b467c7f375993","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575537075359506","authorIdStr":"3575537075359506"},"themes":[],"htmlText":"Wa","listText":"Wa","text":"Wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/106411409","repostId":"1131932104","repostType":4,"repost":{"id":"1131932104","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620127916,"share":"https://ttm.financial/m/news/1131932104?lang=en_US&edition=fundamental","pubTime":"2021-05-04 19:31","market":"us","language":"zh","title":"Under Armour rose more than 4% before the market, and its first-quarter results exceeded expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=1131932104","media":"老虎资讯综合","summary":"5月4日，美国运动服装制造商Under Armour(UAA.N)发布一季度财报：第一季度净营收13亿美元，市场预估11.3亿美元；第一季度调整后每股收益16美分，市场预估4.0美分。公司上调本财年调","content":"<p>On May 4, U.S. sportswear manufacturer Under Armour (UAA.N) released its first-quarter earnings:</p><p>Net revenue in the first quarter was $1.3 billion, compared with market estimates of $1.13 billion;</p><p>Q1 adjusted earnings of 16 cents per share, compared to market estimates of 4.0 cents.</p><p>The company raised its adjusted earnings per share forecast for the fiscal year.</p><p>As of press time,<a href=\"https://laohu8.com/S/UAA\">Under Armour Inc Class C Shares</a>It rose more than 4% before the market.</p><p><img src=\"https://static.tigerbbs.com/b640cab5db9acb5336c4ab37f68d8d56\" tg-width=\"600\" tg-height=\"373\" referrerpolicy=\"no-referrer\"></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>Under Armour rose more than 4% before the market, and its first-quarter results exceeded expectations</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 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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\">\nUnder Armour rose more than 4% before the market, and its first-quarter results exceeded expectations\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-05-04 19:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On May 4, U.S. sportswear manufacturer Under Armour (UAA.N) released its first-quarter earnings:</p><p>Net revenue in the first quarter was $1.3 billion, compared with market estimates of $1.13 billion;</p><p>Q1 adjusted earnings of 16 cents per share, compared to market estimates of 4.0 cents.</p><p>The company raised its adjusted earnings per share forecast for the fiscal year.</p><p>As of press time,<a href=\"https://laohu8.com/S/UAA\">Under Armour Inc Class C Shares</a>It rose more than 4% before the market.</p><p><img src=\"https://static.tigerbbs.com/b640cab5db9acb5336c4ab37f68d8d56\" tg-width=\"600\" tg-height=\"373\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/260839a7610abce171f8c299c9b82f7f","relate_stocks":{"UAA":"安德玛公司A类股","UA.C":"Under Armour Class C","UA":"安德玛公司C类股"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131932104","content_text":"5月4日，美国运动服装制造商Under Armour(UAA.N)发布一季度财报：第一季度净营收13亿美元，市场预估11.3亿美元；第一季度调整后每股收益16美分，市场预估4.0美分。公司上调本财年调整后每股盈利预期。截至发稿，安德玛公司C类股盘前涨超4%。","news_type":1,"symbols_score_info":{"UAA":0.9,"UA":0.9,"UA.C":0.9}},"isVote":1,"tweetType":1,"viewCount":2838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108794310,"gmtCreate":1620053008230,"gmtModify":1704337977131,"author":{"id":"3575537075359506","authorId":"3575537075359506","name":"A_LIUYINGJIA","avatar":"https://static.tigerbbs.com/853af30823e76e3e215b467c7f375993","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575537075359506","authorIdStr":"3575537075359506"},"themes":[],"htmlText":"May day..","listText":"May day..","text":"May day..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/108794310","repostId":"1193618912","repostType":4,"isVote":1,"tweetType":1,"viewCount":3848,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576655834033384","authorId":"3576655834033384","name":"LadyC","avatar":"https://static.tigerbbs.com/3ad9f959f9994b84f8c3d4c43e06d6a5","crmLevel":12,"crmLevelSwitch":0,"idStr":"3576655834033384","authorIdStr":"3576655834033384"},"content":"Thanks for the great sharing.","text":"Thanks for the great sharing.","html":"Thanks for the great sharing."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103516491,"gmtCreate":1619793087413,"gmtModify":1704272483334,"author":{"id":"3575537075359506","authorId":"3575537075359506","name":"A_LIUYINGJIA","avatar":"https://static.tigerbbs.com/853af30823e76e3e215b467c7f375993","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575537075359506","authorIdStr":"3575537075359506"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103516491","repostId":"1144793561","repostType":4,"isVote":1,"tweetType":1,"viewCount":2355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":384203313,"gmtCreate":1613652917632,"gmtModify":1704883224386,"author":{"id":"3575537075359506","authorId":"3575537075359506","name":"A_LIUYINGJIA","avatar":"https://static.tigerbbs.com/853af30823e76e3e215b467c7f375993","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575537075359506","authorIdStr":"3575537075359506"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/384203313","repostId":"1198822694","repostType":4,"repost":{"id":"1198822694","kind":"news","pubTimestamp":1613649286,"share":"https://ttm.financial/m/news/1198822694?lang=en_US&edition=fundamental","pubTime":"2021-02-18 19:54","market":"us","language":"zh","title":"Four reasons support that U.S. stocks may really have no bubble","url":"https://stock-news.laohu8.com/highlight/detail?id=1198822694","media":"腾讯美股","summary":"根据著名的“巴菲特指标”，美股当下的估值已经达到了历史最高点，泡沫的气息已经非常浓烈了，可是市场却依然在持续上涨，丝毫不见泡沫破灭的样子，那么，投资者到底该何去何从？\n\n腾讯证券讯 根据著名的“巴菲特","content":"<p><i>According to the famous \"Buffett Index\", the current valuation of U.S. stocks has reached an all-time high, and the smell of bubble is already very strong. However, the market is still rising, and there is no sign of bubble bursting. So, where should investors go from here?</i><a href=\"https://laohu8.com/S/00700\">Tencent</a>Securities News According to the famous \"Buffett Index\", the current valuation of U.S. stocks has reached an all-time high, and the smell of bubble is already very strong. However, the market is still rising, and there is no sign of bubble bursting. So, where should investors go from here?</p><p>The so-called Buffett indicator, in short, is a comparison of the total market capitalization of the Wilshire 5000 index, the broadest broad-market indicator already available in the United States, to gross domestic product. Historical data shows that the long-term level of the stock market-to-GDP ratio was 74%, and now, this number is over 160%, a record high. Regarding valuation, there is also the so-called \"Tobin's Q ratio\", which was proposed by James Tobin, who won the Nobel Prize in Economics. That is, comparing the stock price of enterprises with the replacement cost, this indicator reached 2.33 at the end of December, which is also a record high.</p><p><b>Old Indicators Meet New Reality</b></p><p>However, many market observers have stressed that comparing the historical averages of these valuation indicators with today's levels is itself a donkey's mouth. Guy Mineault, a retired economics professor, explained that one of the bases for these US stock bulls is that the total number of stocks in the US stock market is actually showing a continuous downward trend. For example, in 1996, there were 8,090 stocks in the market, but by the end of 2019, it had decreased to 4,744. \"Assuming that in 1996 and now, the total amount of funds invested in the US stock market is the same, but the total number of stocks has been reduced by nearly half, then it is completely reasonable that the prices of the stocks that still exist have roughly doubled.\"</p><p>Other observers point out that governments in many countries are now forcing companies to set up retirement funds for their employees, which means that a significant amount of money continues to flow into the stock market every year. As mentioned earlier, the number of stocks is still decreasing, which makes their prices the only possible direction to rise. \"Many economists even believe that the stock market is actually undervalued, not the other way around,\" Minot said.</p><p><b>Impact of the pandemic</b></p><p>Peter Tsakiris, president of Whitemont Financial Services, pointed out: \"It is simply impossible for us to evaluate the stock price of a company according to its 2021 profit expectation now, because the epidemic has changed everything, and the 2021 figures can no longer be normal. Therefore, investors have actually turned their attention to 2022, which will be a full year of sustained growth. In other words, investors have put the epidemic period into parentheses, no longer considering it, but waiting for future profits.\"</p><p>If you expect the S&P 500 to earn $170 a share in 2022, the corresponding P/E is actually just 22.3, Mr. Sakiris said. \"Although such a reading exceeds the historical average of about 16, it also depends on the specific situation. For example, most times in history, interest rates can be much higher than they are now.\"</p><p>Indeed, another important reason that proponents of high valuations give it justification is precisely interest rates. \"Now, expectations for bond yields are so low, and that naturally leads to high stock valuations,\" notes Yanick Desnoyers, vice president of ddenda Capital and an Advanced Economics Award.</p><p>\"Stocks may be expensive, but bonds are even more overvalued,\" says Richard Guay, a professor of finance at the University of Montreal in Quebec. He explains: \"If you buy 30-year government bonds now, you are locking yourself in very low returns for the next 30 years. On the contrary, if you choose stocks, you can get a Dividend of 3% to 4% every year in addition to the possibility of price appreciation. Because of this, many institutional investors who used to invest mainly in bonds are now turning to stocks.\"</p><p><b>Strong demand</b></p><p>Desnovus pointed out that there are two other factors that help U.S. stocks maintain high valuations. The first factor is the profits of American businesses, which surprised many to end the third quarter of last year with higher profits than they were before the pandemic. The total profit of American companies before the outbreak was $1.82 trillion, but after the outbreak, it actually came to $2.32 trillion.</p><p>At the same time, the market still believes to a large extent that once the epidemic is over, a wave of long-suppressed consumer demand will erupt, which is naturally beneficial to corporate profits and even stock prices. The economic data of the rising savings rate in the United States during the pandemic can also be counted as a certain endorsement of this view.</p><p><b>Adequate funding</b></p><p>So, is the US stock market in a bubble now? In fact, many experts are now somewhat confused. \"I think the stock price is too expensive,\" said Mr Guay. \"But, at least for now, I don't dare say that a bubble has formed.\" Mr Sakiris believes that certain stocks such as<a href=\"https://laohu8.com/S/ZM\">Zoom</a>And<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Now there has indeed been a bubble, but as far as the US stock market as a whole is concerned, there is no bubble yet. \"I am still optimistic about the continuous rise of the stock market, although we also expect some small-scale setbacks. At least one thing is certain here, that is, there is liquidity everywhere in the market, so these setbacks will normally be regarded as buying opportunities by investors.\"</p><p>The ultra-low interest rates of central banks and the massive liquidity injected by quantitative easing policies are actually very critical elements, and their impact will last for a long time. \"These printed banknotes are everywhere, which means that sooner or later we will hit inflation head-on in the future, and by then, interest rates will be forced to rise to 4% or 5%. This will cause damage to both the stock and bond markets, but this scene will not become a reality in the short term.\"</p>","source":"txmg","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>Four reasons support that U.S. stocks may really have no bubble</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\">\nFour reasons support that U.S. stocks may really have no bubble\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">腾讯美股</strong><span class=\"h-time small\">2021-02-18 19:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>According to the famous \"Buffett Index\", the current valuation of U.S. stocks has reached an all-time high, and the smell of bubble is already very strong. However, the market is still rising, and there is no sign of bubble bursting. So, where should investors go from here?</i><a href=\"https://laohu8.com/S/00700\">Tencent</a>Securities News According to the famous \"Buffett Index\", the current valuation of U.S. stocks has reached an all-time high, and the smell of bubble is already very strong. However, the market is still rising, and there is no sign of bubble bursting. So, where should investors go from here?</p><p>The so-called Buffett indicator, in short, is a comparison of the total market capitalization of the Wilshire 5000 index, the broadest broad-market indicator already available in the United States, to gross domestic product. Historical data shows that the long-term level of the stock market-to-GDP ratio was 74%, and now, this number is over 160%, a record high. Regarding valuation, there is also the so-called \"Tobin's Q ratio\", which was proposed by James Tobin, who won the Nobel Prize in Economics. That is, comparing the stock price of enterprises with the replacement cost, this indicator reached 2.33 at the end of December, which is also a record high.</p><p><b>Old Indicators Meet New Reality</b></p><p>However, many market observers have stressed that comparing the historical averages of these valuation indicators with today's levels is itself a donkey's mouth. Guy Mineault, a retired economics professor, explained that one of the bases for these US stock bulls is that the total number of stocks in the US stock market is actually showing a continuous downward trend. For example, in 1996, there were 8,090 stocks in the market, but by the end of 2019, it had decreased to 4,744. \"Assuming that in 1996 and now, the total amount of funds invested in the US stock market is the same, but the total number of stocks has been reduced by nearly half, then it is completely reasonable that the prices of the stocks that still exist have roughly doubled.\"</p><p>Other observers point out that governments in many countries are now forcing companies to set up retirement funds for their employees, which means that a significant amount of money continues to flow into the stock market every year. As mentioned earlier, the number of stocks is still decreasing, which makes their prices the only possible direction to rise. \"Many economists even believe that the stock market is actually undervalued, not the other way around,\" Minot said.</p><p><b>Impact of the pandemic</b></p><p>Peter Tsakiris, president of Whitemont Financial Services, pointed out: \"It is simply impossible for us to evaluate the stock price of a company according to its 2021 profit expectation now, because the epidemic has changed everything, and the 2021 figures can no longer be normal. Therefore, investors have actually turned their attention to 2022, which will be a full year of sustained growth. In other words, investors have put the epidemic period into parentheses, no longer considering it, but waiting for future profits.\"</p><p>If you expect the S&P 500 to earn $170 a share in 2022, the corresponding P/E is actually just 22.3, Mr. Sakiris said. \"Although such a reading exceeds the historical average of about 16, it also depends on the specific situation. For example, most times in history, interest rates can be much higher than they are now.\"</p><p>Indeed, another important reason that proponents of high valuations give it justification is precisely interest rates. \"Now, expectations for bond yields are so low, and that naturally leads to high stock valuations,\" notes Yanick Desnoyers, vice president of ddenda Capital and an Advanced Economics Award.</p><p>\"Stocks may be expensive, but bonds are even more overvalued,\" says Richard Guay, a professor of finance at the University of Montreal in Quebec. He explains: \"If you buy 30-year government bonds now, you are locking yourself in very low returns for the next 30 years. On the contrary, if you choose stocks, you can get a Dividend of 3% to 4% every year in addition to the possibility of price appreciation. Because of this, many institutional investors who used to invest mainly in bonds are now turning to stocks.\"</p><p><b>Strong demand</b></p><p>Desnovus pointed out that there are two other factors that help U.S. stocks maintain high valuations. The first factor is the profits of American businesses, which surprised many to end the third quarter of last year with higher profits than they were before the pandemic. The total profit of American companies before the outbreak was $1.82 trillion, but after the outbreak, it actually came to $2.32 trillion.</p><p>At the same time, the market still believes to a large extent that once the epidemic is over, a wave of long-suppressed consumer demand will erupt, which is naturally beneficial to corporate profits and even stock prices. The economic data of the rising savings rate in the United States during the pandemic can also be counted as a certain endorsement of this view.</p><p><b>Adequate funding</b></p><p>So, is the US stock market in a bubble now? In fact, many experts are now somewhat confused. \"I think the stock price is too expensive,\" said Mr Guay. \"But, at least for now, I don't dare say that a bubble has formed.\" Mr Sakiris believes that certain stocks such as<a href=\"https://laohu8.com/S/ZM\">Zoom</a>And<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Now there has indeed been a bubble, but as far as the US stock market as a whole is concerned, there is no bubble yet. \"I am still optimistic about the continuous rise of the stock market, although we also expect some small-scale setbacks. At least one thing is certain here, that is, there is liquidity everywhere in the market, so these setbacks will normally be regarded as buying opportunities by investors.\"</p><p>The ultra-low interest rates of central banks and the massive liquidity injected by quantitative easing policies are actually very critical elements, and their impact will last for a long time. \"These printed banknotes are everywhere, which means that sooner or later we will hit inflation head-on in the future, and by then, interest rates will be forced to rise to 4% or 5%. This will cause damage to both the stock and bond markets, but this scene will not become a reality in the short term.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/TxgBcyYj3GNceu0MJNzgCw\">腾讯美股</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d1fe578ee46cbe0d24c33435ff25ae5","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://mp.weixin.qq.com/s/TxgBcyYj3GNceu0MJNzgCw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198822694","content_text":"根据著名的“巴菲特指标”，美股当下的估值已经达到了历史最高点，泡沫的气息已经非常浓烈了，可是市场却依然在持续上涨，丝毫不见泡沫破灭的样子，那么，投资者到底该何去何从？\n\n腾讯证券讯 根据著名的“巴菲特指标”，美股当下的估值已经达到了历史最高点，泡沫的气息已经非常浓烈了，可是市场却依然在持续上涨，丝毫不见泡沫破灭的样子，那么，投资者到底该何去何从？\n所谓巴菲特指标，简而言之就是将威尔夏5000指数（美国已有的最广泛大盘指标）的总市值与国内生产总值进行比较。历史数据显示，股市对GDP比率的长期水平是74%，而现在，这一数字却超过了160%，创下历史最高纪录。关于估值，还有所谓“托宾的Q比率”，由获得诺贝尔经济学奖的大家托宾（James Tobin）提出，即将企业股价与重置成本相比，这一指标12月底时就来到了2.33，同样是史上新高。\n旧指标遇到新现实\n不过，也有许多市场观察家强调，将这些估值指标的历史平均数字拿来和今日的水平进行对比，本身就是驴唇不对马嘴。退休经济学教授米诺特（Guy Mineault）解释说，这些美股牛派的根据之一就在于，美股市场上的股票总数量其实是呈现持续下滑趋势的，比如1996年时，市场上有股票总计8090只，而到了2019年底，已经减少到了4744只。“假设1996年和现在，投入到美股市场上的资金总量是一致的，但是股票的总数却减少了接近一半，那么依然存在的股票，其价格大致翻一番，其实也是完全说得过去的。”\n还有一些观察家指出，现在许多国家的政府都在强迫企业为自己的员工建立退休基金，而这就意味着每年都会有数量可观的资金持续流入股市，而如前所述，股票的数量还在减少，这就使得其价格更是唯有上涨一个可能的方向。米诺特表示：“许多经济学家甚至认为，股市实际上是被低估了，而非相反。”\n疫情的影响\nWhitemont Financial Services 总裁萨基里斯（Peter Tsakiris）指出：“我们现在根本不可能根据企业2021年的盈利预期去评估其股票价格，因为疫情改变了一切，2021年的数字已经不可能正常了。因此，投资者其实已经将视线转向了2022年，这将是一个持续增长的全年。换言之，投资者已经将疫情时期划入了括号，不再予以考虑，而是等待着未来的利润。”\n萨基里斯表示，如果大家预计标普500指数2022年的每股盈利为170美元，则相应的市盈率其实也不过是22.3。“这样的一个读数虽然是超过了大约16的历史平均水平，但是这也要看具体情况，比如历史上的大多数时候，利率可都要比现在高得多。”\n事实上，高估值的支持者赋予其合理性的另外一个重要理由正是利率。ddenda Capital副总裁、高级经济学奖德斯诺佛斯（Yanick Desnoyers）指出：“现在，债券收益率的预期是如此之低，而这自然就会导致股票估值高企。”\n魁北克蒙特利尔大学金融学教授瓜伊（Richard Guay）表示：“股票或许称得上昂贵，但是债券高估才更加严重。”他解释道：“如果你现在购买三十年期政府债券，就等于将自己的未来三十年锁定在很低的回报当中。相反，如果你选择股票，除了价格增值的可能性之外，你还可以每年获得3%到4%的股息。正因为如此，许多以前都以债券投资为主的机构投资者，现在都纷纷转向了股票。”\n需求旺盛\n德斯诺佛斯指出，此外还有两个因素在帮助美股维持着高估值。第一个因素是美国企业的利润，去年第三季度结束时，利润竟然要比疫情爆发前还高，让许多人都大吃一惊。疫情爆发前的美国企业总利润是1.82万亿美元，而疫情爆发后居然来到了2.32万亿美元。\n与此同时，市场还在很大程度上相信，一旦疫情宣告结束，将有一波压抑已久的消费需求爆发出来，而这自然也是企业利润，乃至股价的利好。疫情期间，美国储蓄率上升的经济数据也可以算作是为这种观点做出了一定的背书。\n充足的资金\n那么，美股现在到底算不算是在泡沫当中呢？其实很多专家现在也多少感到困惑。“我认为股价过于昂贵了。”瓜伊表示，“可是，至少到现在，我还不敢说泡沫已经形成。”萨基里斯则认为，一些特定股票如Zoom和特斯拉，现在确实已经出现了泡沫，但是就美股大盘整体而言，目前还谈不到泡沫。“我对于股市的持续上涨，目前依然持乐观的态度，尽管我们也预计会有一些小规模的回挫发生。这里至少有一点可以肯定，那就是市场上到处都是流动性，因此这些回挫正常情况下都会被投资者看作是买入的机会。”\n各国央行超低利率和量化宽松政策注入的海量流动性，其实是个非常关键的元素，其影响将长期存在。“这些印刷出来的钞票无处不在，这就意味着，我们未来迟早会迎头撞上通货膨胀，而到了那时，利率就将被迫上调，达到4%或者5%。这无论对股票还是债券的行情都会造成损害，只不过，这一幕短期之内还不会成为现实。”","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}