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The boss who accurately predicted the 2008 financial crisis: Nine reasons to be bearish on US stocks

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In fact, the weak performance of the economy is entirely likely to last for another year, which has disappointed the bulls in the US stock market.</i><img src=\"https://static.tigerbbs.com/3c33112cefaca8fcabe66b97de940518\" tg-width=\"616\" tg-height=\"372\"></p><p>Driven by a series of good news such as vaccines, U.S. stocks have performed strongly recently, hitting new highs again and again, exciting investors. However, Gary Shilling, a well-known economist and Wall Street magnate who accurately predicted the 2008 financial crisis, warned that the current rally is likely to be too fast, too large and overall too frenetic.</p><p>This A. The founder of Gary Shilling & Co., a veteran of the market for more than half a century, wrote in his latest Insight report: \"There is no doubt that various new vaccines have dramatically changed the economic outlook, but the market The fanatical reaction still seems to be overdone. In fact, the weak performance of the economy is entirely likely to last for another year, disappointing the bulls in the US stock market. On the contrary, Treasury Bond holders will benefit.\"</p><p>\"The whole market is totally priced according to perfect settings,\" Schilling pointed out. In fact, many of the alarm signals are already clear, such as<a href=\"https://laohu8.com/S/CBOE\">Chicago Board Options Exchange</a>The volatility index (VIX) has always been higher than 20 for about 200 trading days since mid-February. Citing data from Dow Jones, the report pointed out that in the past, the VIX has been above 20 for at least 100 consecutive trading days eight times in total, and each time, the S&P 500 index has fallen by the end.</p><p>Schilling predicted that within this year, the possibility of recession will become realistic again, and this situation will continue next year. When investors can no longer ignore this change, their appetite for venture capital will deteriorate greatly. Below, Schilling specifically lists nine reasons why he can't be optimistic about the prospects of the U.S. economy and stock market.</p><p>1. The widespread vaccination of Novel Coronavirus vaccines may not be achieved until later in 2021 in developed countries, and even later in developing countries. At the same time, the restrictions imposed by governments to prevent the epidemic and consumers' fears of infection will continue to affect the global economy.</p><p>2. With both the United States and Europe launching the latest fiscal stimulus packages currently planned, widespread vaccination of effective vaccines can allow the global economy to grow by 5.5% in 2022. However, if the vaccine rollout is slow, the economic growth rate may be as low as 2.2%. Policymakers in the United States and the euro zone now believe that even if progress on vaccines is in line with expectations, it will take at least 2022 for their economies to truly return to pre-pandemic levels.</p><p>Between March, September and October, the growth rate of consumer spending in the United States was only 0.5%, which slowed down significantly, while discretionary personal income fell by 0.8%.</p><p>4. Although the U.S. job market is picking up, the number of permanent unemployment is rising. In his report, Schilling reminded everyone that the increase in the number of new people in October has narrowed to 638,000, while the number of permanent unemployment has reached 3.7 million. After the release of his report, the latest data from the Ministry of Labor was also released, showing that the number of new salaries in November was 245,000, and the number of permanent unemployment remained at 3.7 million.</p><p>5. By the end of this year, all kinds of unemployment benefits for ordinary workers and freelancers will expire. At the same time, there will be a ban prohibiting landlords from evicting tenants because of rent arrears, and a ban prohibiting public utility companies from cutting off water, electricity and gas because of payment arrears. If Congress fails to come up with new measures, consumer spending and the economy will face a tougher test.</p><p>6. The new stay-at-home economy will continue to affect many industries and enterprises, and many of the latter may not be able to persist until the end of the epidemic, such as numerous restaurants, theaters and retail stores. As of mid-August, the number of bankruptcies in the retail industry has reached 29, exceeding the 22 in the whole of 2019, including Brooks Brothers, J. Well-known brands such as Crew, Lord & Taylor, Jesse Penney, etc. The demand for air travel, especially for many business air travel, is likely to disappear completely, as companies are getting used to replacing face-to-face meetings with online meetings.</p><p>7. The Congressional Budget Office estimates that from 2020 to 2030, the average annual growth rate of U.S. GDP will be only 1.8%, significantly lower than the 2.5% from 1990 to 2019. The International Monetary Fund estimates that the real growth rate of global GDP after deducting inflation will drop to 4.4% this year and only 5.2% in 2021, which actually only means that the total size of the economy will be the same as before the outbreak of the epidemic. The International Monetary Fund also predicts that among the major economies in the world, only China can achieve growth this year, but the rate is only 1.9%, while the U.S. economy will shrink by 4.3% and the euro zone will shrink by 8.3%.</p><p>8. U.S. stocks are expensive. At present, the cyclically adjusted P/E of the S&P 500 index has exceeded 31, while the historical long-term average is less than 17, which means that returning to the mean is equivalent to a plunge.</p><p>9. Too many investors buy stocks because the expected prospects of other assets are worse, but they ignore an important possibility-once the economy falls into recession in 2021 and the prospect of de-inflation becomes clear, the 30-year Treasury Bond yield is entirely likely to drop by another 1%, which means a real return of at least 20%. At the same time, as the stock P/E returns to normal, the S&P 500 may fall by 30% to 40%.</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>The boss who accurately predicted the 2008 financial crisis: Nine reasons to be bearish on US stocks</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\">\nThe boss who accurately predicted the 2008 financial crisis: Nine reasons to be bearish on US stocks\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\">2020-12-11 10:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>Schilling warned that there is no doubt that various new vaccines have dramatically changed the U.S. economic outlook, but the market's frenzied reaction still seems overdone. In fact, the weak performance of the economy is entirely likely to last for another year, which has disappointed the bulls in the US stock market.</i><img src=\"https://static.tigerbbs.com/3c33112cefaca8fcabe66b97de940518\" tg-width=\"616\" tg-height=\"372\"></p><p>Driven by a series of good news such as vaccines, U.S. stocks have performed strongly recently, hitting new highs again and again, exciting investors. However, Gary Shilling, a well-known economist and Wall Street magnate who accurately predicted the 2008 financial crisis, warned that the current rally is likely to be too fast, too large and overall too frenetic.</p><p>This A. The founder of Gary Shilling & Co., a veteran of the market for more than half a century, wrote in his latest Insight report: \"There is no doubt that various new vaccines have dramatically changed the economic outlook, but the market The fanatical reaction still seems to be overdone. In fact, the weak performance of the economy is entirely likely to last for another year, disappointing the bulls in the US stock market. On the contrary, Treasury Bond holders will benefit.\"</p><p>\"The whole market is totally priced according to perfect settings,\" Schilling pointed out. In fact, many of the alarm signals are already clear, such as<a href=\"https://laohu8.com/S/CBOE\">Chicago Board Options Exchange</a>The volatility index (VIX) has always been higher than 20 for about 200 trading days since mid-February. Citing data from Dow Jones, the report pointed out that in the past, the VIX has been above 20 for at least 100 consecutive trading days eight times in total, and each time, the S&P 500 index has fallen by the end.</p><p>Schilling predicted that within this year, the possibility of recession will become realistic again, and this situation will continue next year. When investors can no longer ignore this change, their appetite for venture capital will deteriorate greatly. Below, Schilling specifically lists nine reasons why he can't be optimistic about the prospects of the U.S. economy and stock market.</p><p>1. The widespread vaccination of Novel Coronavirus vaccines may not be achieved until later in 2021 in developed countries, and even later in developing countries. At the same time, the restrictions imposed by governments to prevent the epidemic and consumers' fears of infection will continue to affect the global economy.</p><p>2. With both the United States and Europe launching the latest fiscal stimulus packages currently planned, widespread vaccination of effective vaccines can allow the global economy to grow by 5.5% in 2022. However, if the vaccine rollout is slow, the economic growth rate may be as low as 2.2%. Policymakers in the United States and the euro zone now believe that even if progress on vaccines is in line with expectations, it will take at least 2022 for their economies to truly return to pre-pandemic levels.</p><p>Between March, September and October, the growth rate of consumer spending in the United States was only 0.5%, which slowed down significantly, while discretionary personal income fell by 0.8%.</p><p>4. Although the U.S. job market is picking up, the number of permanent unemployment is rising. In his report, Schilling reminded everyone that the increase in the number of new people in October has narrowed to 638,000, while the number of permanent unemployment has reached 3.7 million. After the release of his report, the latest data from the Ministry of Labor was also released, showing that the number of new salaries in November was 245,000, and the number of permanent unemployment remained at 3.7 million.</p><p>5. By the end of this year, all kinds of unemployment benefits for ordinary workers and freelancers will expire. At the same time, there will be a ban prohibiting landlords from evicting tenants because of rent arrears, and a ban prohibiting public utility companies from cutting off water, electricity and gas because of payment arrears. If Congress fails to come up with new measures, consumer spending and the economy will face a tougher test.</p><p>6. The new stay-at-home economy will continue to affect many industries and enterprises, and many of the latter may not be able to persist until the end of the epidemic, such as numerous restaurants, theaters and retail stores. As of mid-August, the number of bankruptcies in the retail industry has reached 29, exceeding the 22 in the whole of 2019, including Brooks Brothers, J. Well-known brands such as Crew, Lord & Taylor, Jesse Penney, etc. The demand for air travel, especially for many business air travel, is likely to disappear completely, as companies are getting used to replacing face-to-face meetings with online meetings.</p><p>7. The Congressional Budget Office estimates that from 2020 to 2030, the average annual growth rate of U.S. GDP will be only 1.8%, significantly lower than the 2.5% from 1990 to 2019. The International Monetary Fund estimates that the real growth rate of global GDP after deducting inflation will drop to 4.4% this year and only 5.2% in 2021, which actually only means that the total size of the economy will be the same as before the outbreak of the epidemic. The International Monetary Fund also predicts that among the major economies in the world, only China can achieve growth this year, but the rate is only 1.9%, while the U.S. economy will shrink by 4.3% and the euro zone will shrink by 8.3%.</p><p>8. U.S. stocks are expensive. At present, the cyclically adjusted P/E of the S&P 500 index has exceeded 31, while the historical long-term average is less than 17, which means that returning to the mean is equivalent to a plunge.</p><p>9. Too many investors buy stocks because the expected prospects of other assets are worse, but they ignore an important possibility-once the economy falls into recession in 2021 and the prospect of de-inflation becomes clear, the 30-year Treasury Bond yield is entirely likely to drop by another 1%, which means a real return of at least 20%. At the same time, as the stock P/E returns to normal, the S&P 500 may fall by 30% to 40%.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/0YbjGf0GCEV8bs4ZZBhoTg\">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/5d8fb95e65f042f352c6313989391357","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://mp.weixin.qq.com/s/0YbjGf0GCEV8bs4ZZBhoTg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108720766","content_text":"希林警告称，毋庸置疑，各种新疫苗已经让美国经济前景发生了戏剧性的变化，但是市场的狂热反应看上去还是大有过头的嫌疑。事实上，经济的疲软表现完全可能再持续一年的时间，让美股牛派大失所望。\n\n\n在疫苗等一系列好消息的推送下，美股近期表现强势，一再创下新高，让投资者兴奋不已。然而，著名经济学家、曾准确预测08年金融危机的华尔街大佬希林（Gary Shilling）却警告说，当下的涨势很可能是速度过快，幅度过大，整体而言过于狂热了。\n这位A. Gary Shilling & Co.创始人，在市场上摸爬滚打半个多世纪的老兵在他最新的Insight报告当中写道：“毋庸置疑，各种新疫苗已经让经济前景发生了戏剧性的变化，但是市场的狂热反应看上去还是大有过头的嫌疑。事实上，经济的疲软表现完全可能再持续一年的时间，让美股牛派大失所望，相反，国债持有者则会受益。”\n“整个市场完全是按照完美设定定价的。”希林指出，其实很多警报讯号已经很清晰了，比如芝加哥期权交易所波动率指数（VIX），2月中旬至今大约200个交易日，始终都高于20。报告援引道琼斯的数据指出，在过去，VIX连续至少100个交易日都高于20的情况总计出现过八次，而每一次到最后，标普500指数都下跌了。\n希林预言说，今年年内，衰退可能性就会重新变得现实起来，而且这样的情况还将在明年一直持续下去。当投资者再也无法忽视这种变故，他们对风险投资的胃口就会大幅度恶化。在下面，希林具体列出了九条让他无法对美国经济和股市前景感到乐观的理由。\n1、新冠病毒疫苗广泛接种，在发达国家恐怕也要等到2021年晚些时候才能实现，而在发展中国家还会更晚。与此同时，各国政府为防疫采取的限制措施，以及消费者害怕感染的恐惧都将持续影响全球经济。\n2、在美国和欧洲都推出目前计划的最新财政刺激方案的情况下，有效疫苗广泛接种，可以让全球经济在2022年增长5.5%，可是，如果疫苗推广速度较慢，则经济增速就可能低到2.2%。美国和欧元区的政策制定者目前都相信，哪怕在疫苗方面进展符合预期的情况下，他们的经济要真正恢复到疫情前的水平，至少也要到2022年。\n3、9月和10月间，美国消费支出增速只有0.5%，明显减缓，而可任意支配个人收入更是下滑0.8%。\n4、美国就业市场虽然在回暖，但是永久性失业数字在攀升。希林在报告当中提醒大家，10月新增之心人数增幅已经缩窄到了63.8万，而永久性失业数量却来到了370万。在他的报告发布后，劳工部的最新数据也发布了，显示11月新增支薪人数为24.5万，永久性失业数字依然保持370万。\n5、到今年年底，针对普通劳动者和自由职业者的各种失业救济补贴就将到期，同时到期的还有禁止房东因为拖欠房租而驱逐租客的禁令、禁止公用事业公司因为拖欠缴费而断供水电煤气的禁令等。如果国会拿不出新的措施，消费支出和经济就将遭遇更严峻的考验。\n6、新的宅家经济形态将持续影响许多行业和企业，而后者当中有不少都未必能够坚持到疫情结束，比如为数众多的餐厅、影剧院和零售店等。截至8月中旬，零售行业破产案已经达到29起，超过了2019年全年的22起，其中不乏Brooks Brothers、J. Crew、Lord & Taylor、杰西潘尼等知名品牌。航空旅行需求，尤其是很多商务航空旅行需求很可能将彻底消失，因为企业正在习惯用线上会议代替面对面开会。\n7、国会预算办公室估计，从2020年到2030年，美国国内生产总值年平均增长速度将只有1.8%，明显低于1990年至2019年的2.5%。国际货币基金组织估计，全球国内生产总值扣除通货膨胀后的真实增幅今年将降至4.4%，2021年也不过只有5.2%，而这其实也只意味着经济总规模到那时将和疫情爆发前相当。国际货币基金还预计，在世界主要经济体当中，只有中国今年还能够实现增长，但是幅度也不过只有1.9%，而美国经济将收缩4.3%，欧元区更是将收缩8.3%。\n8、美国股票价格昂贵。目前，标普500指数的周期调整市盈率已经超过了31，而历史长期平均水平还不到17，这就意味着回归均值就等于暴跌。\n9、太多投资者之所以购买股票，是因为其他资产的预期前景更差，但是他们却忽略了一个重要的可能性——一旦2021年经济陷于衰退，而且去通胀前景明晰起来，则三十年期国债收益率完全可能再降低1%，这便意味着至少20%的真实回报率，而与此同时，伴随股票市盈率回归正常，标普500指数却可能下跌30%到40%。","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1767,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":390040213,"gmtCreate":1605680802732,"gmtModify":1704961678455,"author":{"id":"3479283926611476","authorId":"3479283926611476","name":"jade8668","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3479283926611476","idStr":"3479283926611476"},"themes":[],"htmlText":"。。","listText":"。。","text":"。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/390040213","repostId":"1142939198","repostType":4,"repost":{"id":"1142939198","kind":"news","weMediaInfo":{"introduction":"致力于提供最及时的财经资讯，最专业的解读分析，覆盖宏观经济、金融机构、A股市场、上市公司、投资理财等财经领域。","home_visible":1,"media_name":"券商中国","id":"9","head_image":"https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f"},"pubTimestamp":1605657056,"share":"https://ttm.financial/m/news/1142939198?lang=en_US&edition=fundamental","pubTime":"2020-11-18 07:50","market":"us","language":"zh","title":"Temasek cleared Pinduoduo and Nio in the third quarter, what did it smell?","url":"https://stock-news.laohu8.com/highlight/detail?id=1142939198","media":"券商中国","summary":"日前，根据美国证监会(SEC)披露，淡马锡于近日递交了截至2020年9月30日的第三季度(Q3)持仓报告(13F)。其中，其在第三季度清仓了拼多多、蔚来汽车等中概股，引发市场关注。券商中国记者据公开信","content":"<p>A few days ago, according to the disclosure of the US Securities and Exchange Commission (SEC), Temasek recently submitted its third quarter (Q3) position report (13F) as of September 30, 2020. Among them, it cleared its positions in the third quarter<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/NIO\">Nio</a>Chinese concept stocks such as automobiles have attracted market attention.</p><p>According to public information, by the end of the third quarter, a total of 358 institutional investors held Nio Motor shares, an increase of 34.8% from the previous quarter. During the reporting period, 110 institutions cleared the stock, but 300 institutional investors also chose to increase their holdings or make new entry; At the same time, 269 institutions hold Pinduoduo shares, an increase of 3.07% from the previous quarter. Including Temasek, a total of 114 institutions cleared the stock in the third quarter, but more than 200 institutions chose to increase their holdings or make new investments.</p><p>It is particularly worth noting that during the reporting period, many institutions such as Vanguard Group had cleared Nio vehicles, and Tiger Global Group had also cleared Pinduoduo, and later made large-scale purchases.</p><p><b>Temasek clears Pinduoduo, Nio Motors in the third quarter</b></p><p>According to the documents disclosed by the US Securities and Exchange Commission, the 13F documents submitted by Temasek show that by the end of the third quarter, the total market value of Temasek's positions was US $19.698 billion. During the reporting period, there were 19 new positions, 6 increased holdings, and 3 reduced holdings. And 4 targets were cleared.</p><p>Wherein,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>、<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>、<a href=\"https://laohu8.com/S/V\">Visa</a>, CenturyLink is its top five holdings; Temasek's top five buying stocks are: Duck Creek Technologies (DCT.US),<a href=\"https://laohu8.com/S/SNOW\">Snowflake</a>Sea Limited,<a href=\"https://laohu8.com/S/IAU\">Gold Trust ETF (iShares)</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>。 What is particularly concerned by the market is that in the third quarter, Temasek cleared once-hot Chinese concept stocks such as Pinduoduo and Nio Motors.</p><p>Temasek is an equity investment company supervised by the Ministry of Political Participation of Singapore and a world-renowned investment institution. At the end of 2019, Temasek ranked 23rd in the \"2019 Hurun Top 100 Global Unicorn Active Investment Institutions List\" published by Hurun Research Institute. Its buying and selling actions in the capital market are highly concerned by the market.</p><p>The information about Temasek's clearance of Nio Motors and Pinduoduo has been raging in the market, and Hillhouse's subsequent disclosure of its positions in the third quarter showed different judgments. On November 17, Beijing time, Hillhouse announced its U.S. stock positions at the end of the third quarter of 2020 at the U.S. Securities and Exchange Commission. The data shows that Hillhouse holds the shares of 89 companies in the U.S. stock market, with a total market value of US $13.2 billion, with biomedicine, Internet, and hard technology as its main layout areas. Wherein,<a href=\"https://laohu8.com/S/JD\">JD.com</a>, Alibaba, Pinduoduo and other Chinese concept stocks are all Hillhouse's holdings. In addition, Hillhouse increased its investment in the new energy field in the third quarter, and its holdings include Nio Automobile,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Etc.</p><p><b>110 institutions cleared Nio vehicles in the third quarter</b></p><p>Nio Automobile is a well-known enterprise in the field of new energy vehicles, claiming to be \"the pioneer of China's high-quality electric vehicle market\". It was listed in September 2018, with an increase of more than 628% since its listing. In the third quarter of this year, Nio's range rose by more than 170%, and its stock price rose from $7.79 to $21.22, with a range high of $22.59.</p><p>Wind data shows that by the end of the third quarter, a total of 358 institutions held shares in Nio Motor, with a total market value of US $9.639 billion, accounting for 33.67% of the shares, a decrease of 0.59 percentage points from the previous reporting period. During the reporting period, 99 institutions chose to increase their holdings of Nio vehicles, 201 institutions were new shareholders, and the shareholding ratio of 12 institutions remained unchanged; In addition, 46 institutions chose to reduce their holdings of Nio Automobile shares during the reporting period, and 110 institutions cleared their positions in the stock during the reporting period.</p><p>Specifically, by the end of the third quarter, the top ten institutional investors in Nio Automobile all made increases or new moves during the reporting period. The largest institutional investors among them are<a href=\"https://laohu8.com/S/BGUK.UK\">BAILIE GIFFORD</a>& CO, holding 109 million shares, accounting for 8.08% of the shares, and the shareholding ratio increased by 11.159 million shares in the third quarter; The second largest institutional investor is BLACKROCK INC. (<a href=\"https://laohu8.com/S/BX\">Blackstone</a>Company), accounting for 3.95% of the shares, and increased its holdings by 10.638 million shares during the reporting period; The third largest institutional investor is VANGUARD GROUP INC (Pioneer Group), with a shareholding ratio of 2.52%. During the reporting period, it increased its holdings by 34.0403 million shares, which is also the institution with the largest number of newly added shares.</p><p>Public information shows that during the reporting period, TEMASEK HOLDINGS (PRIVATE) LTD (TEMASEK HOLDINGS) did liquidate its 3.1085 million shares of Nio Motor. From the end of 2019 to the end of the third quarter of this year, Temasek liquidated a total of 41.447 million shares of Nio Motor. However, Temasek is only one of the 110 investment institutions that cleared Nio Automobile stocks in the third quarter. The reporter sorted out that at least D. E. SHAW & CO., INC. (Deshao Group), VANGUARD GROUP INC (Pioneer Group) and other institutions cleared Nio vehicles in the third quarter, but there were purchases during the reporting period, and their shareholding ratios were all relatively large.</p><p>However, since October, Nio Motor's stock price has risen further. From October 1 to November 16, the range increase reached 114.8%, and the closing price on the 16th reached US $45.58.</p><p><b>More than 100 institutions cleared their positions in Pinduoduo in the third quarter</b></p><p>Looking at Pinduoduo, the company completed its listing in the United States in July 2018, and the increase has exceeded 400% since its listing. In the third quarter of this year, Pinduoduo's stock price showed a downward trend, with a range drop of 13.62%. Therefore, many institutions reduced their holdings or cleared the stock at that time, but more institutions seemed to have seized the opportunity of \"bargain hunting\".</p><p>The data shows that by the end of the third quarter, a total of 269 institutions held its shares, with a total market value of US $17.021 billion, accounting for 19.17% of the shares, a decrease of 2.22 percentage points from the previous reporting period.</p><p>During the reporting period, 79 institutions chose to increase their holdings in Pinduoduo, 122 institutions were new shareholders, and the shareholding ratio of 18 institutions remained unchanged; In addition, 50 institutions (a decrease of 10.71% from the previous quarter) chose to reduce their holdings of Pinduoduo shares during the reporting period, and 114 institutions (an increase of 256.25% from the previous quarter) cleared their positions in the stock during the reporting period.</p><p>Judging from the shareholding situation, major institutional investors have shown obvious differentiation in their predictions of Pinduoduo's future. By the end of the third quarter, among the top ten institutional investors in Pinduoduo, there were 5 new shareholders, and 3 shareholders had reduced their holdings. Specifically, Pinduoduo's largest institutional investor is BAILLIE GIFFORD & CO, holding 96 million shares, accounting for 2% of the shares. It reduced its holdings by 7.5296 million shares in the third quarter; The second largest institutional investor is TIGER GLOBAL MANAGEMENT LLC (Tiger Global Management Company), which holds 1.19% of the shares and is a new shareholder; The third largest institutional investor is VANGUARD GROUP INC (Pioneer Group), with a shareholding ratio of 1.16%, which reduced its holdings by 2.4758 million shares during the reporting period.</p><p>It is worth mentioning that during the reporting period, in addition to Temasek, many institutional investors including TIGER GLOBAL MANAGEMENT LLC, FMR LLC (old year Fidelity), HILLHOUSE CAPITAL ADVISORS, LTD., etc. have cleared their positions in Pinduoduo, but TIGER GLOBAL MANAGEMENT LLC There was another buying action during the reporting period.</p><p>Since October, Pinduoduo's stock price has rebounded significantly. From October 1 to November 16, the range increase reached 91.54%.</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>Temasek cleared Pinduoduo and Nio in the third quarter, what did it smell?</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\">\nTemasek cleared Pinduoduo and Nio in the third quarter, what did it smell?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/9\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">券商中国 </p>\n<p class=\"h-time smaller\">2020-11-18 07:50</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>A few days ago, according to the disclosure of the US Securities and Exchange Commission (SEC), Temasek recently submitted its third quarter (Q3) position report (13F) as of September 30, 2020. Among them, it cleared its positions in the third quarter<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/NIO\">Nio</a>Chinese concept stocks such as automobiles have attracted market attention.</p><p>According to public information, by the end of the third quarter, a total of 358 institutional investors held Nio Motor shares, an increase of 34.8% from the previous quarter. During the reporting period, 110 institutions cleared the stock, but 300 institutional investors also chose to increase their holdings or make new entry; At the same time, 269 institutions hold Pinduoduo shares, an increase of 3.07% from the previous quarter. Including Temasek, a total of 114 institutions cleared the stock in the third quarter, but more than 200 institutions chose to increase their holdings or make new investments.</p><p>It is particularly worth noting that during the reporting period, many institutions such as Vanguard Group had cleared Nio vehicles, and Tiger Global Group had also cleared Pinduoduo, and later made large-scale purchases.</p><p><b>Temasek clears Pinduoduo, Nio Motors in the third quarter</b></p><p>According to the documents disclosed by the US Securities and Exchange Commission, the 13F documents submitted by Temasek show that by the end of the third quarter, the total market value of Temasek's positions was US $19.698 billion. During the reporting period, there were 19 new positions, 6 increased holdings, and 3 reduced holdings. And 4 targets were cleared.</p><p>Wherein,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>、<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>、<a href=\"https://laohu8.com/S/V\">Visa</a>, CenturyLink is its top five holdings; Temasek's top five buying stocks are: Duck Creek Technologies (DCT.US),<a href=\"https://laohu8.com/S/SNOW\">Snowflake</a>Sea Limited,<a href=\"https://laohu8.com/S/IAU\">Gold Trust ETF (iShares)</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>。 What is particularly concerned by the market is that in the third quarter, Temasek cleared once-hot Chinese concept stocks such as Pinduoduo and Nio Motors.</p><p>Temasek is an equity investment company supervised by the Ministry of Political Participation of Singapore and a world-renowned investment institution. At the end of 2019, Temasek ranked 23rd in the \"2019 Hurun Top 100 Global Unicorn Active Investment Institutions List\" published by Hurun Research Institute. Its buying and selling actions in the capital market are highly concerned by the market.</p><p>The information about Temasek's clearance of Nio Motors and Pinduoduo has been raging in the market, and Hillhouse's subsequent disclosure of its positions in the third quarter showed different judgments. On November 17, Beijing time, Hillhouse announced its U.S. stock positions at the end of the third quarter of 2020 at the U.S. Securities and Exchange Commission. The data shows that Hillhouse holds the shares of 89 companies in the U.S. stock market, with a total market value of US $13.2 billion, with biomedicine, Internet, and hard technology as its main layout areas. Wherein,<a href=\"https://laohu8.com/S/JD\">JD.com</a>, Alibaba, Pinduoduo and other Chinese concept stocks are all Hillhouse's holdings. In addition, Hillhouse increased its investment in the new energy field in the third quarter, and its holdings include Nio Automobile,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Etc.</p><p><b>110 institutions cleared Nio vehicles in the third quarter</b></p><p>Nio Automobile is a well-known enterprise in the field of new energy vehicles, claiming to be \"the pioneer of China's high-quality electric vehicle market\". It was listed in September 2018, with an increase of more than 628% since its listing. In the third quarter of this year, Nio's range rose by more than 170%, and its stock price rose from $7.79 to $21.22, with a range high of $22.59.</p><p>Wind data shows that by the end of the third quarter, a total of 358 institutions held shares in Nio Motor, with a total market value of US $9.639 billion, accounting for 33.67% of the shares, a decrease of 0.59 percentage points from the previous reporting period. During the reporting period, 99 institutions chose to increase their holdings of Nio vehicles, 201 institutions were new shareholders, and the shareholding ratio of 12 institutions remained unchanged; In addition, 46 institutions chose to reduce their holdings of Nio Automobile shares during the reporting period, and 110 institutions cleared their positions in the stock during the reporting period.</p><p>Specifically, by the end of the third quarter, the top ten institutional investors in Nio Automobile all made increases or new moves during the reporting period. The largest institutional investors among them are<a href=\"https://laohu8.com/S/BGUK.UK\">BAILIE GIFFORD</a>& CO, holding 109 million shares, accounting for 8.08% of the shares, and the shareholding ratio increased by 11.159 million shares in the third quarter; The second largest institutional investor is BLACKROCK INC. (<a href=\"https://laohu8.com/S/BX\">Blackstone</a>Company), accounting for 3.95% of the shares, and increased its holdings by 10.638 million shares during the reporting period; The third largest institutional investor is VANGUARD GROUP INC (Pioneer Group), with a shareholding ratio of 2.52%. During the reporting period, it increased its holdings by 34.0403 million shares, which is also the institution with the largest number of newly added shares.</p><p>Public information shows that during the reporting period, TEMASEK HOLDINGS (PRIVATE) LTD (TEMASEK HOLDINGS) did liquidate its 3.1085 million shares of Nio Motor. From the end of 2019 to the end of the third quarter of this year, Temasek liquidated a total of 41.447 million shares of Nio Motor. However, Temasek is only one of the 110 investment institutions that cleared Nio Automobile stocks in the third quarter. The reporter sorted out that at least D. E. SHAW & CO., INC. (Deshao Group), VANGUARD GROUP INC (Pioneer Group) and other institutions cleared Nio vehicles in the third quarter, but there were purchases during the reporting period, and their shareholding ratios were all relatively large.</p><p>However, since October, Nio Motor's stock price has risen further. From October 1 to November 16, the range increase reached 114.8%, and the closing price on the 16th reached US $45.58.</p><p><b>More than 100 institutions cleared their positions in Pinduoduo in the third quarter</b></p><p>Looking at Pinduoduo, the company completed its listing in the United States in July 2018, and the increase has exceeded 400% since its listing. In the third quarter of this year, Pinduoduo's stock price showed a downward trend, with a range drop of 13.62%. Therefore, many institutions reduced their holdings or cleared the stock at that time, but more institutions seemed to have seized the opportunity of \"bargain hunting\".</p><p>The data shows that by the end of the third quarter, a total of 269 institutions held its shares, with a total market value of US $17.021 billion, accounting for 19.17% of the shares, a decrease of 2.22 percentage points from the previous reporting period.</p><p>During the reporting period, 79 institutions chose to increase their holdings in Pinduoduo, 122 institutions were new shareholders, and the shareholding ratio of 18 institutions remained unchanged; In addition, 50 institutions (a decrease of 10.71% from the previous quarter) chose to reduce their holdings of Pinduoduo shares during the reporting period, and 114 institutions (an increase of 256.25% from the previous quarter) cleared their positions in the stock during the reporting period.</p><p>Judging from the shareholding situation, major institutional investors have shown obvious differentiation in their predictions of Pinduoduo's future. By the end of the third quarter, among the top ten institutional investors in Pinduoduo, there were 5 new shareholders, and 3 shareholders had reduced their holdings. Specifically, Pinduoduo's largest institutional investor is BAILLIE GIFFORD & CO, holding 96 million shares, accounting for 2% of the shares. It reduced its holdings by 7.5296 million shares in the third quarter; The second largest institutional investor is TIGER GLOBAL MANAGEMENT LLC (Tiger Global Management Company), which holds 1.19% of the shares and is a new shareholder; The third largest institutional investor is VANGUARD GROUP INC (Pioneer Group), with a shareholding ratio of 1.16%, which reduced its holdings by 2.4758 million shares during the reporting period.</p><p>It is worth mentioning that during the reporting period, in addition to Temasek, many institutional investors including TIGER GLOBAL MANAGEMENT LLC, FMR LLC (old year Fidelity), HILLHOUSE CAPITAL ADVISORS, LTD., etc. have cleared their positions in Pinduoduo, but TIGER GLOBAL MANAGEMENT LLC There was another buying action during the reporting period.</p><p>Since October, Pinduoduo's stock price has rebounded significantly. From October 1 to November 16, the range increase reached 91.54%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/220bd432f04f895b23623500708edc81","relate_stocks":{"NIO":"蔚来","PDD":"拼多多"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142939198","content_text":"日前，根据美国证监会(SEC)披露，淡马锡于近日递交了截至2020年9月30日的第三季度(Q3)持仓报告(13F)。其中，其在第三季度清仓了拼多多、蔚来汽车等中概股，引发市场关注。券商中国记者据公开信息梳理，至三季度末，共有358家机构投资者持有蔚来汽车股份，环比增加34.8%，报告期内有110家机构清仓该股票，不过也有300家机构投资者选择了增持或新进；与此同时，有269家机构持有拼多多股份，环比增加了3.07%，包括淡马锡在内，三季度共有114家机构清仓该股票，但也有逾200家机构选择增持或新进。特别值得注意的是，报告期内，先锋集团等多家机构曾清仓过蔚来汽车，老虎环球集团也曾清仓拼多多，后来均有大手笔买入动作。淡马锡于三季度内清仓拼多多、蔚来汽车美国证监会披露文件显示，淡马锡提交的13F文件显示，至三季度末，淡马锡持仓总市值为196.98亿美元，报告期内新增持仓标的19只，增持6只标的，减持3只标的，并对4只标的进行了清仓处理。其中，阿里巴巴、贝莱德、PayPal、Visa、CenturyLink 是其前五大重仓股；淡马锡前五大买入股分别是：Duck Creek Technologies(DCT.US)、Snowflake、Sea Limited、黄金信托ETF(iShares)、亚马逊。特别为市场关注的是，三季度内，淡马锡清仓了拼多多、蔚来汽车等一度炙手可热的中概股。淡马锡是新加坡参政部负责监管的一家股权投资公司，全球知名投资机构。2019年底，胡润研究院发布的《2019胡润全球独角兽活跃投资机构百强榜》中，淡马锡排名第23位。其在资本市场的买入、卖出动作，均受市场高度关注。淡马锡清仓蔚来汽车、拼多多的信息在市场上沸沸扬扬，高瓴随后披露的三季度持仓情况则显示出了不同的判断。北京时间11月17日，高瓴在美国证监会公布了2020年第三季度末的美股持仓情况。数据显示，高瓴在美股市场持有89家公司的股票，总市值为132亿美元，以生物医疗、互联网、硬科技为主要布局领域。其中，京东、阿里巴巴、拼多多等中概股都是高瓴的持仓股。此外，高瓴在三季度内加大对新能源领域的投资，持仓股包括蔚来汽车、理想汽车等。110家机构三季度清仓蔚来汽车蔚来汽车是新能源汽车领域的知名企业，自称“中国优质电动车市场的先驱”，于2018年9月份完成上市，上市以来涨幅超过628%。今年第三季度，蔚来汽车区间涨幅超过170%，股价从7.79美元一路上涨到21.22美元，区间高点为22.59美元。Wind数据显示，至三季度末，共有358家机构持有蔚来汽车股份，合计持股市值96.39亿美元，持股占比为33.67%，较上一报告期持股比例下滑了0.59个百分点。报告期内，有99家机构选择增持蔚来汽车，201家机构为新进股东，12家机构持股比例不变；此外，也有46家机构在报告期内选择减持蔚来汽车股份，还有110家机构在该报告期内清仓该股票。具体来看，至三季度末，蔚来汽车前十大机构投资者均在报告期内做出了增持或新进的举动。其中最大的机构投资者为BAILLIE GIFFORD & CO，持股数量1.09亿股，持股数占比为8.08%，第三季度内持股比例增加了1115.9万股；第二大机构投资者为BLACKROCK INC.（黑石公司），持股数占比为3.95%，报告期内增持1063.80万股；第三大机构投资者为VANGUARD GROUP INC（先锋集团），持股比例为2.52%，报告期内增持3404.03万股，也是新增持股数量最多的机构。公开信息显示，报告期内，TEMASEK HOLDINGS (PRIVATE) LTD（淡马锡控股）确实清仓了所持有的310.85万股蔚来汽车股票。自2019年底至今年三季度末，淡马锡合计清仓了所持有的4144.70万股蔚来汽车股票。不过，淡马锡只是第三季度清仓蔚来汽车股票的110家投资机构之一，记者梳理，至少包括D. E. SHAW & CO., INC.（德劭集团）、VANGUARD GROUP INC（先锋集团）等机构在第三季度内曾清仓过蔚来汽车，但在报告期内又有买入动作，且持股比例都较大。不过，10月份以来，蔚来汽车股价进一步上涨，至10月1日至11月16日，区间涨幅达到114.8%，16日收盘价已达到45.58美元。逾百家机构三季度清仓拼多多再来看拼多多，该公司于2018年7月份完成赴美上市，上市以来涨幅已超过400%。今年第三季度，拼多多股价呈现下跌态势，区间跌幅13.62%。因而，有多家机构当时减持或清仓了该股票，但有更多机构似乎抓住了“抄底”机遇。数据显示，至三季度末，共有269家机构持有其股份，合计持股市值170.21亿美元，持股占比为19.17%，较上一报告期持股比例下滑了2.22个百分点。报告期内，有79家机构选择增持拼多多，122家机构为新进股东，18家机构持股比例不变；此外，也50家机构（环比减少10.71%）在报告期内选择减持拼多多股份，还有114家机构（较上季度增幅达256.25%）在该报告期内清仓该股票。从持股情况来看，各大机构投资者对拼多多未来预判表现出明显的分化。至三季度末，拼多多的前十大机构投资者中，有5个新进股东，还有3个股东做出了减持举动。具体来看，拼多多最大的机构投资者为BAILLIE GIFFORD & CO，持股数量0.96亿股，持股数占比为2%，它第三季度内减持了752.96万股；第二大机构投资者为TIGER GLOBAL MANAGEMENT LLC（老虎环球管理公司），持股数占比为1.19%，为新进股东；第三大机构投资者为VANGUARD GROUP INC（先锋集团），持股比例为1.16%，报告期内减持247.58万股。值得一提的是，报告期内，除了淡马锡外，包括TIGER GLOBAL MANAGEMENT LLC、FMR LLC（旧年富达）、HILLHOUSE CAPITAL ADVISORS, LTD.等多家机构投资者都曾清仓拼多多，不过TIGER GLOBAL MANAGEMENT LLC在报告期内又有买入动作。10月份以来，拼多多股价明显回升，至10月1日至11月16日，区间涨幅达到91.54%。","news_type":1,"symbols_score_info":{"NIO":0.9,"PDD":0.9}},"isVote":1,"tweetType":1,"viewCount":1555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":386495564,"gmtCreate":1613230767658,"gmtModify":1704879526965,"author":{"id":"3479283926611476","authorId":"3479283926611476","name":"jade8668","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3479283926611476","authorIdStr":"3479283926611476"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/FUBO\">$fuboTV Inc.(FUBO)$</a>USD100？","listText":"<a href=\"https://laohu8.com/S/FUBO\">$fuboTV Inc.(FUBO)$</a>USD100？","text":"$fuboTV Inc.(FUBO)$USD100？","images":[{"img":"https://static.tigerbbs.com/d9c31a921a87f0f4a4eeb732f564536b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/386495564","isVote":1,"tweetType":1,"viewCount":3597,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":313042194,"gmtCreate":1611644990518,"gmtModify":1704861631821,"author":{"id":"3479283926611476","authorId":"3479283926611476","name":"jade8668","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3479283926611476","authorIdStr":"3479283926611476"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/FUBO\">$fuboTV Inc.(FUBO)$</a>。","listText":"<a href=\"https://laohu8.com/S/FUBO\">$fuboTV Inc.(FUBO)$</a>。","text":"$fuboTV Inc.(FUBO)$。","images":[{"img":"https://static.tigerbbs.com/4e15ab7730f3cfe2ad2736d71795d6d5","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/313042194","isVote":1,"tweetType":1,"viewCount":1485,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":381371295,"gmtCreate":1612938811017,"gmtModify":1704876233007,"author":{"id":"3479283926611476","authorId":"3479283926611476","name":"jade8668","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3479283926611476","authorIdStr":"3479283926611476"},"themes":[],"htmlText":"....&nbsp; &nbsp; &nbsp;","listText":"....&nbsp; &nbsp; &nbsp;","text":"....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/381371295","isVote":1,"tweetType":1,"viewCount":1794,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389701033,"gmtCreate":1612796978922,"gmtModify":1704874389328,"author":{"id":"3479283926611476","authorId":"3479283926611476","name":"jade8668","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3479283926611476","authorIdStr":"3479283926611476"},"themes":[],"htmlText":"USD300？","listText":"USD300？","text":"USD300？","images":[{"img":"https://static.tigerbbs.com/4279c6aa3d5f2e7a1dedc139dd5d03c9","width":"1080","height":"3041"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/389701033","isVote":1,"tweetType":1,"viewCount":1596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":394638294,"gmtCreate":1608016882218,"gmtModify":1704972784260,"author":{"id":"3479283926611476","authorId":"3479283926611476","name":"jade8668","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3479283926611476","authorIdStr":"3479283926611476"},"themes":[],"htmlText":"。","listText":"。","text":"。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/394638294","repostId":"1108720766","repostType":2,"repost":{"id":"1108720766","kind":"news","pubTimestamp":1607654264,"share":"https://ttm.financial/m/news/1108720766?lang=en_US&edition=fundamental","pubTime":"2020-12-11 10:37","market":"us","language":"zh","title":"The boss who accurately predicted the 2008 financial crisis: Nine reasons to be bearish on US stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1108720766","media":"腾讯美股","summary":"希林警告称，毋庸置疑，各种新疫苗已经让美国经济前景发生了戏剧性的变化，但是市场的狂热反应看上去还是大有过头的嫌疑。事实上，经济的疲软表现完全可能再持续一年的时间，让美股牛派大失所望。\n\n\n在疫苗等一系","content":"<p><i>Schilling warned that there is no doubt that various new vaccines have dramatically changed the U.S. economic outlook, but the market's frenzied reaction still seems overdone. In fact, the weak performance of the economy is entirely likely to last for another year, which has disappointed the bulls in the US stock market.</i><img src=\"https://static.tigerbbs.com/3c33112cefaca8fcabe66b97de940518\" tg-width=\"616\" tg-height=\"372\"></p><p>Driven by a series of good news such as vaccines, U.S. stocks have performed strongly recently, hitting new highs again and again, exciting investors. However, Gary Shilling, a well-known economist and Wall Street magnate who accurately predicted the 2008 financial crisis, warned that the current rally is likely to be too fast, too large and overall too frenetic.</p><p>This A. The founder of Gary Shilling & Co., a veteran of the market for more than half a century, wrote in his latest Insight report: \"There is no doubt that various new vaccines have dramatically changed the economic outlook, but the market The fanatical reaction still seems to be overdone. In fact, the weak performance of the economy is entirely likely to last for another year, disappointing the bulls in the US stock market. On the contrary, Treasury Bond holders will benefit.\"</p><p>\"The whole market is totally priced according to perfect settings,\" Schilling pointed out. In fact, many of the alarm signals are already clear, such as<a href=\"https://laohu8.com/S/CBOE\">Chicago Board Options Exchange</a>The volatility index (VIX) has always been higher than 20 for about 200 trading days since mid-February. Citing data from Dow Jones, the report pointed out that in the past, the VIX has been above 20 for at least 100 consecutive trading days eight times in total, and each time, the S&P 500 index has fallen by the end.</p><p>Schilling predicted that within this year, the possibility of recession will become realistic again, and this situation will continue next year. When investors can no longer ignore this change, their appetite for venture capital will deteriorate greatly. Below, Schilling specifically lists nine reasons why he can't be optimistic about the prospects of the U.S. economy and stock market.</p><p>1. The widespread vaccination of Novel Coronavirus vaccines may not be achieved until later in 2021 in developed countries, and even later in developing countries. At the same time, the restrictions imposed by governments to prevent the epidemic and consumers' fears of infection will continue to affect the global economy.</p><p>2. With both the United States and Europe launching the latest fiscal stimulus packages currently planned, widespread vaccination of effective vaccines can allow the global economy to grow by 5.5% in 2022. However, if the vaccine rollout is slow, the economic growth rate may be as low as 2.2%. Policymakers in the United States and the euro zone now believe that even if progress on vaccines is in line with expectations, it will take at least 2022 for their economies to truly return to pre-pandemic levels.</p><p>Between March, September and October, the growth rate of consumer spending in the United States was only 0.5%, which slowed down significantly, while discretionary personal income fell by 0.8%.</p><p>4. Although the U.S. job market is picking up, the number of permanent unemployment is rising. In his report, Schilling reminded everyone that the increase in the number of new people in October has narrowed to 638,000, while the number of permanent unemployment has reached 3.7 million. After the release of his report, the latest data from the Ministry of Labor was also released, showing that the number of new salaries in November was 245,000, and the number of permanent unemployment remained at 3.7 million.</p><p>5. By the end of this year, all kinds of unemployment benefits for ordinary workers and freelancers will expire. At the same time, there will be a ban prohibiting landlords from evicting tenants because of rent arrears, and a ban prohibiting public utility companies from cutting off water, electricity and gas because of payment arrears. If Congress fails to come up with new measures, consumer spending and the economy will face a tougher test.</p><p>6. The new stay-at-home economy will continue to affect many industries and enterprises, and many of the latter may not be able to persist until the end of the epidemic, such as numerous restaurants, theaters and retail stores. As of mid-August, the number of bankruptcies in the retail industry has reached 29, exceeding the 22 in the whole of 2019, including Brooks Brothers, J. Well-known brands such as Crew, Lord & Taylor, Jesse Penney, etc. The demand for air travel, especially for many business air travel, is likely to disappear completely, as companies are getting used to replacing face-to-face meetings with online meetings.</p><p>7. The Congressional Budget Office estimates that from 2020 to 2030, the average annual growth rate of U.S. GDP will be only 1.8%, significantly lower than the 2.5% from 1990 to 2019. The International Monetary Fund estimates that the real growth rate of global GDP after deducting inflation will drop to 4.4% this year and only 5.2% in 2021, which actually only means that the total size of the economy will be the same as before the outbreak of the epidemic. The International Monetary Fund also predicts that among the major economies in the world, only China can achieve growth this year, but the rate is only 1.9%, while the U.S. economy will shrink by 4.3% and the euro zone will shrink by 8.3%.</p><p>8. U.S. stocks are expensive. At present, the cyclically adjusted P/E of the S&P 500 index has exceeded 31, while the historical long-term average is less than 17, which means that returning to the mean is equivalent to a plunge.</p><p>9. Too many investors buy stocks because the expected prospects of other assets are worse, but they ignore an important possibility-once the economy falls into recession in 2021 and the prospect of de-inflation becomes clear, the 30-year Treasury Bond yield is entirely likely to drop by another 1%, which means a real return of at least 20%. At the same time, as the stock P/E returns to normal, the S&P 500 may fall by 30% to 40%.</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>The boss who accurately predicted the 2008 financial crisis: Nine reasons to be bearish on US stocks</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\">\nThe boss who accurately predicted the 2008 financial crisis: Nine reasons to be bearish on US stocks\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\">2020-12-11 10:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p><i>Schilling warned that there is no doubt that various new vaccines have dramatically changed the U.S. economic outlook, but the market's frenzied reaction still seems overdone. In fact, the weak performance of the economy is entirely likely to last for another year, which has disappointed the bulls in the US stock market.</i><img src=\"https://static.tigerbbs.com/3c33112cefaca8fcabe66b97de940518\" tg-width=\"616\" tg-height=\"372\"></p><p>Driven by a series of good news such as vaccines, U.S. stocks have performed strongly recently, hitting new highs again and again, exciting investors. However, Gary Shilling, a well-known economist and Wall Street magnate who accurately predicted the 2008 financial crisis, warned that the current rally is likely to be too fast, too large and overall too frenetic.</p><p>This A. The founder of Gary Shilling & Co., a veteran of the market for more than half a century, wrote in his latest Insight report: \"There is no doubt that various new vaccines have dramatically changed the economic outlook, but the market The fanatical reaction still seems to be overdone. In fact, the weak performance of the economy is entirely likely to last for another year, disappointing the bulls in the US stock market. On the contrary, Treasury Bond holders will benefit.\"</p><p>\"The whole market is totally priced according to perfect settings,\" Schilling pointed out. In fact, many of the alarm signals are already clear, such as<a href=\"https://laohu8.com/S/CBOE\">Chicago Board Options Exchange</a>The volatility index (VIX) has always been higher than 20 for about 200 trading days since mid-February. Citing data from Dow Jones, the report pointed out that in the past, the VIX has been above 20 for at least 100 consecutive trading days eight times in total, and each time, the S&P 500 index has fallen by the end.</p><p>Schilling predicted that within this year, the possibility of recession will become realistic again, and this situation will continue next year. When investors can no longer ignore this change, their appetite for venture capital will deteriorate greatly. Below, Schilling specifically lists nine reasons why he can't be optimistic about the prospects of the U.S. economy and stock market.</p><p>1. The widespread vaccination of Novel Coronavirus vaccines may not be achieved until later in 2021 in developed countries, and even later in developing countries. At the same time, the restrictions imposed by governments to prevent the epidemic and consumers' fears of infection will continue to affect the global economy.</p><p>2. With both the United States and Europe launching the latest fiscal stimulus packages currently planned, widespread vaccination of effective vaccines can allow the global economy to grow by 5.5% in 2022. However, if the vaccine rollout is slow, the economic growth rate may be as low as 2.2%. Policymakers in the United States and the euro zone now believe that even if progress on vaccines is in line with expectations, it will take at least 2022 for their economies to truly return to pre-pandemic levels.</p><p>Between March, September and October, the growth rate of consumer spending in the United States was only 0.5%, which slowed down significantly, while discretionary personal income fell by 0.8%.</p><p>4. Although the U.S. job market is picking up, the number of permanent unemployment is rising. In his report, Schilling reminded everyone that the increase in the number of new people in October has narrowed to 638,000, while the number of permanent unemployment has reached 3.7 million. After the release of his report, the latest data from the Ministry of Labor was also released, showing that the number of new salaries in November was 245,000, and the number of permanent unemployment remained at 3.7 million.</p><p>5. By the end of this year, all kinds of unemployment benefits for ordinary workers and freelancers will expire. At the same time, there will be a ban prohibiting landlords from evicting tenants because of rent arrears, and a ban prohibiting public utility companies from cutting off water, electricity and gas because of payment arrears. If Congress fails to come up with new measures, consumer spending and the economy will face a tougher test.</p><p>6. The new stay-at-home economy will continue to affect many industries and enterprises, and many of the latter may not be able to persist until the end of the epidemic, such as numerous restaurants, theaters and retail stores. As of mid-August, the number of bankruptcies in the retail industry has reached 29, exceeding the 22 in the whole of 2019, including Brooks Brothers, J. Well-known brands such as Crew, Lord & Taylor, Jesse Penney, etc. The demand for air travel, especially for many business air travel, is likely to disappear completely, as companies are getting used to replacing face-to-face meetings with online meetings.</p><p>7. The Congressional Budget Office estimates that from 2020 to 2030, the average annual growth rate of U.S. GDP will be only 1.8%, significantly lower than the 2.5% from 1990 to 2019. The International Monetary Fund estimates that the real growth rate of global GDP after deducting inflation will drop to 4.4% this year and only 5.2% in 2021, which actually only means that the total size of the economy will be the same as before the outbreak of the epidemic. The International Monetary Fund also predicts that among the major economies in the world, only China can achieve growth this year, but the rate is only 1.9%, while the U.S. economy will shrink by 4.3% and the euro zone will shrink by 8.3%.</p><p>8. U.S. stocks are expensive. At present, the cyclically adjusted P/E of the S&P 500 index has exceeded 31, while the historical long-term average is less than 17, which means that returning to the mean is equivalent to a plunge.</p><p>9. Too many investors buy stocks because the expected prospects of other assets are worse, but they ignore an important possibility-once the economy falls into recession in 2021 and the prospect of de-inflation becomes clear, the 30-year Treasury Bond yield is entirely likely to drop by another 1%, which means a real return of at least 20%. At the same time, as the stock P/E returns to normal, the S&P 500 may fall by 30% to 40%.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/0YbjGf0GCEV8bs4ZZBhoTg\">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/5d8fb95e65f042f352c6313989391357","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://mp.weixin.qq.com/s/0YbjGf0GCEV8bs4ZZBhoTg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108720766","content_text":"希林警告称，毋庸置疑，各种新疫苗已经让美国经济前景发生了戏剧性的变化，但是市场的狂热反应看上去还是大有过头的嫌疑。事实上，经济的疲软表现完全可能再持续一年的时间，让美股牛派大失所望。\n\n\n在疫苗等一系列好消息的推送下，美股近期表现强势，一再创下新高，让投资者兴奋不已。然而，著名经济学家、曾准确预测08年金融危机的华尔街大佬希林（Gary Shilling）却警告说，当下的涨势很可能是速度过快，幅度过大，整体而言过于狂热了。\n这位A. Gary Shilling & Co.创始人，在市场上摸爬滚打半个多世纪的老兵在他最新的Insight报告当中写道：“毋庸置疑，各种新疫苗已经让经济前景发生了戏剧性的变化，但是市场的狂热反应看上去还是大有过头的嫌疑。事实上，经济的疲软表现完全可能再持续一年的时间，让美股牛派大失所望，相反，国债持有者则会受益。”\n“整个市场完全是按照完美设定定价的。”希林指出，其实很多警报讯号已经很清晰了，比如芝加哥期权交易所波动率指数（VIX），2月中旬至今大约200个交易日，始终都高于20。报告援引道琼斯的数据指出，在过去，VIX连续至少100个交易日都高于20的情况总计出现过八次，而每一次到最后，标普500指数都下跌了。\n希林预言说，今年年内，衰退可能性就会重新变得现实起来，而且这样的情况还将在明年一直持续下去。当投资者再也无法忽视这种变故，他们对风险投资的胃口就会大幅度恶化。在下面，希林具体列出了九条让他无法对美国经济和股市前景感到乐观的理由。\n1、新冠病毒疫苗广泛接种，在发达国家恐怕也要等到2021年晚些时候才能实现，而在发展中国家还会更晚。与此同时，各国政府为防疫采取的限制措施，以及消费者害怕感染的恐惧都将持续影响全球经济。\n2、在美国和欧洲都推出目前计划的最新财政刺激方案的情况下，有效疫苗广泛接种，可以让全球经济在2022年增长5.5%，可是，如果疫苗推广速度较慢，则经济增速就可能低到2.2%。美国和欧元区的政策制定者目前都相信，哪怕在疫苗方面进展符合预期的情况下，他们的经济要真正恢复到疫情前的水平，至少也要到2022年。\n3、9月和10月间，美国消费支出增速只有0.5%，明显减缓，而可任意支配个人收入更是下滑0.8%。\n4、美国就业市场虽然在回暖，但是永久性失业数字在攀升。希林在报告当中提醒大家，10月新增之心人数增幅已经缩窄到了63.8万，而永久性失业数量却来到了370万。在他的报告发布后，劳工部的最新数据也发布了，显示11月新增支薪人数为24.5万，永久性失业数字依然保持370万。\n5、到今年年底，针对普通劳动者和自由职业者的各种失业救济补贴就将到期，同时到期的还有禁止房东因为拖欠房租而驱逐租客的禁令、禁止公用事业公司因为拖欠缴费而断供水电煤气的禁令等。如果国会拿不出新的措施，消费支出和经济就将遭遇更严峻的考验。\n6、新的宅家经济形态将持续影响许多行业和企业，而后者当中有不少都未必能够坚持到疫情结束，比如为数众多的餐厅、影剧院和零售店等。截至8月中旬，零售行业破产案已经达到29起，超过了2019年全年的22起，其中不乏Brooks Brothers、J. Crew、Lord & Taylor、杰西潘尼等知名品牌。航空旅行需求，尤其是很多商务航空旅行需求很可能将彻底消失，因为企业正在习惯用线上会议代替面对面开会。\n7、国会预算办公室估计，从2020年到2030年，美国国内生产总值年平均增长速度将只有1.8%，明显低于1990年至2019年的2.5%。国际货币基金组织估计，全球国内生产总值扣除通货膨胀后的真实增幅今年将降至4.4%，2021年也不过只有5.2%，而这其实也只意味着经济总规模到那时将和疫情爆发前相当。国际货币基金还预计，在世界主要经济体当中，只有中国今年还能够实现增长，但是幅度也不过只有1.9%，而美国经济将收缩4.3%，欧元区更是将收缩8.3%。\n8、美国股票价格昂贵。目前，标普500指数的周期调整市盈率已经超过了31，而历史长期平均水平还不到17，这就意味着回归均值就等于暴跌。\n9、太多投资者之所以购买股票，是因为其他资产的预期前景更差，但是他们却忽略了一个重要的可能性——一旦2021年经济陷于衰退，而且去通胀前景明晰起来，则三十年期国债收益率完全可能再降低1%，这便意味着至少20%的真实回报率，而与此同时，伴随股票市盈率回归正常，标普500指数却可能下跌30%到40%。","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1767,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":390040213,"gmtCreate":1605680802732,"gmtModify":1704961678455,"author":{"id":"3479283926611476","authorId":"3479283926611476","name":"jade8668","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3479283926611476","authorIdStr":"3479283926611476"},"themes":[],"htmlText":"。。","listText":"。。","text":"。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/390040213","repostId":"1142939198","repostType":4,"repost":{"id":"1142939198","kind":"news","weMediaInfo":{"introduction":"致力于提供最及时的财经资讯，最专业的解读分析，覆盖宏观经济、金融机构、A股市场、上市公司、投资理财等财经领域。","home_visible":1,"media_name":"券商中国","id":"9","head_image":"https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f"},"pubTimestamp":1605657056,"share":"https://ttm.financial/m/news/1142939198?lang=en_US&edition=fundamental","pubTime":"2020-11-18 07:50","market":"us","language":"zh","title":"Temasek cleared Pinduoduo and Nio in the third quarter, what did it smell?","url":"https://stock-news.laohu8.com/highlight/detail?id=1142939198","media":"券商中国","summary":"日前，根据美国证监会(SEC)披露，淡马锡于近日递交了截至2020年9月30日的第三季度(Q3)持仓报告(13F)。其中，其在第三季度清仓了拼多多、蔚来汽车等中概股，引发市场关注。券商中国记者据公开信","content":"<p>A few days ago, according to the disclosure of the US Securities and Exchange Commission (SEC), Temasek recently submitted its third quarter (Q3) position report (13F) as of September 30, 2020. Among them, it cleared its positions in the third quarter<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/NIO\">Nio</a>Chinese concept stocks such as automobiles have attracted market attention.</p><p>According to public information, by the end of the third quarter, a total of 358 institutional investors held Nio Motor shares, an increase of 34.8% from the previous quarter. During the reporting period, 110 institutions cleared the stock, but 300 institutional investors also chose to increase their holdings or make new entry; At the same time, 269 institutions hold Pinduoduo shares, an increase of 3.07% from the previous quarter. Including Temasek, a total of 114 institutions cleared the stock in the third quarter, but more than 200 institutions chose to increase their holdings or make new investments.</p><p>It is particularly worth noting that during the reporting period, many institutions such as Vanguard Group had cleared Nio vehicles, and Tiger Global Group had also cleared Pinduoduo, and later made large-scale purchases.</p><p><b>Temasek clears Pinduoduo, Nio Motors in the third quarter</b></p><p>According to the documents disclosed by the US Securities and Exchange Commission, the 13F documents submitted by Temasek show that by the end of the third quarter, the total market value of Temasek's positions was US $19.698 billion. During the reporting period, there were 19 new positions, 6 increased holdings, and 3 reduced holdings. And 4 targets were cleared.</p><p>Wherein,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>、<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>、<a href=\"https://laohu8.com/S/V\">Visa</a>, CenturyLink is its top five holdings; Temasek's top five buying stocks are: Duck Creek Technologies (DCT.US),<a href=\"https://laohu8.com/S/SNOW\">Snowflake</a>Sea Limited,<a href=\"https://laohu8.com/S/IAU\">Gold Trust ETF (iShares)</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>。 What is particularly concerned by the market is that in the third quarter, Temasek cleared once-hot Chinese concept stocks such as Pinduoduo and Nio Motors.</p><p>Temasek is an equity investment company supervised by the Ministry of Political Participation of Singapore and a world-renowned investment institution. At the end of 2019, Temasek ranked 23rd in the \"2019 Hurun Top 100 Global Unicorn Active Investment Institutions List\" published by Hurun Research Institute. Its buying and selling actions in the capital market are highly concerned by the market.</p><p>The information about Temasek's clearance of Nio Motors and Pinduoduo has been raging in the market, and Hillhouse's subsequent disclosure of its positions in the third quarter showed different judgments. On November 17, Beijing time, Hillhouse announced its U.S. stock positions at the end of the third quarter of 2020 at the U.S. Securities and Exchange Commission. The data shows that Hillhouse holds the shares of 89 companies in the U.S. stock market, with a total market value of US $13.2 billion, with biomedicine, Internet, and hard technology as its main layout areas. Wherein,<a href=\"https://laohu8.com/S/JD\">JD.com</a>, Alibaba, Pinduoduo and other Chinese concept stocks are all Hillhouse's holdings. In addition, Hillhouse increased its investment in the new energy field in the third quarter, and its holdings include Nio Automobile,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Etc.</p><p><b>110 institutions cleared Nio vehicles in the third quarter</b></p><p>Nio Automobile is a well-known enterprise in the field of new energy vehicles, claiming to be \"the pioneer of China's high-quality electric vehicle market\". It was listed in September 2018, with an increase of more than 628% since its listing. In the third quarter of this year, Nio's range rose by more than 170%, and its stock price rose from $7.79 to $21.22, with a range high of $22.59.</p><p>Wind data shows that by the end of the third quarter, a total of 358 institutions held shares in Nio Motor, with a total market value of US $9.639 billion, accounting for 33.67% of the shares, a decrease of 0.59 percentage points from the previous reporting period. During the reporting period, 99 institutions chose to increase their holdings of Nio vehicles, 201 institutions were new shareholders, and the shareholding ratio of 12 institutions remained unchanged; In addition, 46 institutions chose to reduce their holdings of Nio Automobile shares during the reporting period, and 110 institutions cleared their positions in the stock during the reporting period.</p><p>Specifically, by the end of the third quarter, the top ten institutional investors in Nio Automobile all made increases or new moves during the reporting period. The largest institutional investors among them are<a href=\"https://laohu8.com/S/BGUK.UK\">BAILIE GIFFORD</a>& CO, holding 109 million shares, accounting for 8.08% of the shares, and the shareholding ratio increased by 11.159 million shares in the third quarter; The second largest institutional investor is BLACKROCK INC. (<a href=\"https://laohu8.com/S/BX\">Blackstone</a>Company), accounting for 3.95% of the shares, and increased its holdings by 10.638 million shares during the reporting period; The third largest institutional investor is VANGUARD GROUP INC (Pioneer Group), with a shareholding ratio of 2.52%. During the reporting period, it increased its holdings by 34.0403 million shares, which is also the institution with the largest number of newly added shares.</p><p>Public information shows that during the reporting period, TEMASEK HOLDINGS (PRIVATE) LTD (TEMASEK HOLDINGS) did liquidate its 3.1085 million shares of Nio Motor. From the end of 2019 to the end of the third quarter of this year, Temasek liquidated a total of 41.447 million shares of Nio Motor. However, Temasek is only one of the 110 investment institutions that cleared Nio Automobile stocks in the third quarter. The reporter sorted out that at least D. E. SHAW & CO., INC. (Deshao Group), VANGUARD GROUP INC (Pioneer Group) and other institutions cleared Nio vehicles in the third quarter, but there were purchases during the reporting period, and their shareholding ratios were all relatively large.</p><p>However, since October, Nio Motor's stock price has risen further. From October 1 to November 16, the range increase reached 114.8%, and the closing price on the 16th reached US $45.58.</p><p><b>More than 100 institutions cleared their positions in Pinduoduo in the third quarter</b></p><p>Looking at Pinduoduo, the company completed its listing in the United States in July 2018, and the increase has exceeded 400% since its listing. In the third quarter of this year, Pinduoduo's stock price showed a downward trend, with a range drop of 13.62%. Therefore, many institutions reduced their holdings or cleared the stock at that time, but more institutions seemed to have seized the opportunity of \"bargain hunting\".</p><p>The data shows that by the end of the third quarter, a total of 269 institutions held its shares, with a total market value of US $17.021 billion, accounting for 19.17% of the shares, a decrease of 2.22 percentage points from the previous reporting period.</p><p>During the reporting period, 79 institutions chose to increase their holdings in Pinduoduo, 122 institutions were new shareholders, and the shareholding ratio of 18 institutions remained unchanged; In addition, 50 institutions (a decrease of 10.71% from the previous quarter) chose to reduce their holdings of Pinduoduo shares during the reporting period, and 114 institutions (an increase of 256.25% from the previous quarter) cleared their positions in the stock during the reporting period.</p><p>Judging from the shareholding situation, major institutional investors have shown obvious differentiation in their predictions of Pinduoduo's future. By the end of the third quarter, among the top ten institutional investors in Pinduoduo, there were 5 new shareholders, and 3 shareholders had reduced their holdings. Specifically, Pinduoduo's largest institutional investor is BAILLIE GIFFORD & CO, holding 96 million shares, accounting for 2% of the shares. It reduced its holdings by 7.5296 million shares in the third quarter; The second largest institutional investor is TIGER GLOBAL MANAGEMENT LLC (Tiger Global Management Company), which holds 1.19% of the shares and is a new shareholder; The third largest institutional investor is VANGUARD GROUP INC (Pioneer Group), with a shareholding ratio of 1.16%, which reduced its holdings by 2.4758 million shares during the reporting period.</p><p>It is worth mentioning that during the reporting period, in addition to Temasek, many institutional investors including TIGER GLOBAL MANAGEMENT LLC, FMR LLC (old year Fidelity), HILLHOUSE CAPITAL ADVISORS, LTD., etc. have cleared their positions in Pinduoduo, but TIGER GLOBAL MANAGEMENT LLC There was another buying action during the reporting period.</p><p>Since October, Pinduoduo's stock price has rebounded significantly. From October 1 to November 16, the range increase reached 91.54%.</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>Temasek cleared Pinduoduo and Nio in the third quarter, what did it smell?</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\">\nTemasek cleared Pinduoduo and Nio in the third quarter, what did it smell?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/9\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">券商中国 </p>\n<p class=\"h-time smaller\">2020-11-18 07:50</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>A few days ago, according to the disclosure of the US Securities and Exchange Commission (SEC), Temasek recently submitted its third quarter (Q3) position report (13F) as of September 30, 2020. Among them, it cleared its positions in the third quarter<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/NIO\">Nio</a>Chinese concept stocks such as automobiles have attracted market attention.</p><p>According to public information, by the end of the third quarter, a total of 358 institutional investors held Nio Motor shares, an increase of 34.8% from the previous quarter. During the reporting period, 110 institutions cleared the stock, but 300 institutional investors also chose to increase their holdings or make new entry; At the same time, 269 institutions hold Pinduoduo shares, an increase of 3.07% from the previous quarter. Including Temasek, a total of 114 institutions cleared the stock in the third quarter, but more than 200 institutions chose to increase their holdings or make new investments.</p><p>It is particularly worth noting that during the reporting period, many institutions such as Vanguard Group had cleared Nio vehicles, and Tiger Global Group had also cleared Pinduoduo, and later made large-scale purchases.</p><p><b>Temasek clears Pinduoduo, Nio Motors in the third quarter</b></p><p>According to the documents disclosed by the US Securities and Exchange Commission, the 13F documents submitted by Temasek show that by the end of the third quarter, the total market value of Temasek's positions was US $19.698 billion. During the reporting period, there were 19 new positions, 6 increased holdings, and 3 reduced holdings. And 4 targets were cleared.</p><p>Wherein,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>、<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>、<a href=\"https://laohu8.com/S/V\">Visa</a>, CenturyLink is its top five holdings; Temasek's top five buying stocks are: Duck Creek Technologies (DCT.US),<a href=\"https://laohu8.com/S/SNOW\">Snowflake</a>Sea Limited,<a href=\"https://laohu8.com/S/IAU\">Gold Trust ETF (iShares)</a>、<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>。 What is particularly concerned by the market is that in the third quarter, Temasek cleared once-hot Chinese concept stocks such as Pinduoduo and Nio Motors.</p><p>Temasek is an equity investment company supervised by the Ministry of Political Participation of Singapore and a world-renowned investment institution. At the end of 2019, Temasek ranked 23rd in the \"2019 Hurun Top 100 Global Unicorn Active Investment Institutions List\" published by Hurun Research Institute. Its buying and selling actions in the capital market are highly concerned by the market.</p><p>The information about Temasek's clearance of Nio Motors and Pinduoduo has been raging in the market, and Hillhouse's subsequent disclosure of its positions in the third quarter showed different judgments. On November 17, Beijing time, Hillhouse announced its U.S. stock positions at the end of the third quarter of 2020 at the U.S. Securities and Exchange Commission. The data shows that Hillhouse holds the shares of 89 companies in the U.S. stock market, with a total market value of US $13.2 billion, with biomedicine, Internet, and hard technology as its main layout areas. Wherein,<a href=\"https://laohu8.com/S/JD\">JD.com</a>, Alibaba, Pinduoduo and other Chinese concept stocks are all Hillhouse's holdings. In addition, Hillhouse increased its investment in the new energy field in the third quarter, and its holdings include Nio Automobile,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Etc.</p><p><b>110 institutions cleared Nio vehicles in the third quarter</b></p><p>Nio Automobile is a well-known enterprise in the field of new energy vehicles, claiming to be \"the pioneer of China's high-quality electric vehicle market\". It was listed in September 2018, with an increase of more than 628% since its listing. In the third quarter of this year, Nio's range rose by more than 170%, and its stock price rose from $7.79 to $21.22, with a range high of $22.59.</p><p>Wind data shows that by the end of the third quarter, a total of 358 institutions held shares in Nio Motor, with a total market value of US $9.639 billion, accounting for 33.67% of the shares, a decrease of 0.59 percentage points from the previous reporting period. During the reporting period, 99 institutions chose to increase their holdings of Nio vehicles, 201 institutions were new shareholders, and the shareholding ratio of 12 institutions remained unchanged; In addition, 46 institutions chose to reduce their holdings of Nio Automobile shares during the reporting period, and 110 institutions cleared their positions in the stock during the reporting period.</p><p>Specifically, by the end of the third quarter, the top ten institutional investors in Nio Automobile all made increases or new moves during the reporting period. The largest institutional investors among them are<a href=\"https://laohu8.com/S/BGUK.UK\">BAILIE GIFFORD</a>& CO, holding 109 million shares, accounting for 8.08% of the shares, and the shareholding ratio increased by 11.159 million shares in the third quarter; The second largest institutional investor is BLACKROCK INC. (<a href=\"https://laohu8.com/S/BX\">Blackstone</a>Company), accounting for 3.95% of the shares, and increased its holdings by 10.638 million shares during the reporting period; The third largest institutional investor is VANGUARD GROUP INC (Pioneer Group), with a shareholding ratio of 2.52%. During the reporting period, it increased its holdings by 34.0403 million shares, which is also the institution with the largest number of newly added shares.</p><p>Public information shows that during the reporting period, TEMASEK HOLDINGS (PRIVATE) LTD (TEMASEK HOLDINGS) did liquidate its 3.1085 million shares of Nio Motor. From the end of 2019 to the end of the third quarter of this year, Temasek liquidated a total of 41.447 million shares of Nio Motor. However, Temasek is only one of the 110 investment institutions that cleared Nio Automobile stocks in the third quarter. The reporter sorted out that at least D. E. SHAW & CO., INC. (Deshao Group), VANGUARD GROUP INC (Pioneer Group) and other institutions cleared Nio vehicles in the third quarter, but there were purchases during the reporting period, and their shareholding ratios were all relatively large.</p><p>However, since October, Nio Motor's stock price has risen further. From October 1 to November 16, the range increase reached 114.8%, and the closing price on the 16th reached US $45.58.</p><p><b>More than 100 institutions cleared their positions in Pinduoduo in the third quarter</b></p><p>Looking at Pinduoduo, the company completed its listing in the United States in July 2018, and the increase has exceeded 400% since its listing. In the third quarter of this year, Pinduoduo's stock price showed a downward trend, with a range drop of 13.62%. Therefore, many institutions reduced their holdings or cleared the stock at that time, but more institutions seemed to have seized the opportunity of \"bargain hunting\".</p><p>The data shows that by the end of the third quarter, a total of 269 institutions held its shares, with a total market value of US $17.021 billion, accounting for 19.17% of the shares, a decrease of 2.22 percentage points from the previous reporting period.</p><p>During the reporting period, 79 institutions chose to increase their holdings in Pinduoduo, 122 institutions were new shareholders, and the shareholding ratio of 18 institutions remained unchanged; In addition, 50 institutions (a decrease of 10.71% from the previous quarter) chose to reduce their holdings of Pinduoduo shares during the reporting period, and 114 institutions (an increase of 256.25% from the previous quarter) cleared their positions in the stock during the reporting period.</p><p>Judging from the shareholding situation, major institutional investors have shown obvious differentiation in their predictions of Pinduoduo's future. By the end of the third quarter, among the top ten institutional investors in Pinduoduo, there were 5 new shareholders, and 3 shareholders had reduced their holdings. Specifically, Pinduoduo's largest institutional investor is BAILLIE GIFFORD & CO, holding 96 million shares, accounting for 2% of the shares. It reduced its holdings by 7.5296 million shares in the third quarter; The second largest institutional investor is TIGER GLOBAL MANAGEMENT LLC (Tiger Global Management Company), which holds 1.19% of the shares and is a new shareholder; The third largest institutional investor is VANGUARD GROUP INC (Pioneer Group), with a shareholding ratio of 1.16%, which reduced its holdings by 2.4758 million shares during the reporting period.</p><p>It is worth mentioning that during the reporting period, in addition to Temasek, many institutional investors including TIGER GLOBAL MANAGEMENT LLC, FMR LLC (old year Fidelity), HILLHOUSE CAPITAL ADVISORS, LTD., etc. have cleared their positions in Pinduoduo, but TIGER GLOBAL MANAGEMENT LLC There was another buying action during the reporting period.</p><p>Since October, Pinduoduo's stock price has rebounded significantly. From October 1 to November 16, the range increase reached 91.54%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/220bd432f04f895b23623500708edc81","relate_stocks":{"NIO":"蔚来","PDD":"拼多多"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142939198","content_text":"日前，根据美国证监会(SEC)披露，淡马锡于近日递交了截至2020年9月30日的第三季度(Q3)持仓报告(13F)。其中，其在第三季度清仓了拼多多、蔚来汽车等中概股，引发市场关注。券商中国记者据公开信息梳理，至三季度末，共有358家机构投资者持有蔚来汽车股份，环比增加34.8%，报告期内有110家机构清仓该股票，不过也有300家机构投资者选择了增持或新进；与此同时，有269家机构持有拼多多股份，环比增加了3.07%，包括淡马锡在内，三季度共有114家机构清仓该股票，但也有逾200家机构选择增持或新进。特别值得注意的是，报告期内，先锋集团等多家机构曾清仓过蔚来汽车，老虎环球集团也曾清仓拼多多，后来均有大手笔买入动作。淡马锡于三季度内清仓拼多多、蔚来汽车美国证监会披露文件显示，淡马锡提交的13F文件显示，至三季度末，淡马锡持仓总市值为196.98亿美元，报告期内新增持仓标的19只，增持6只标的，减持3只标的，并对4只标的进行了清仓处理。其中，阿里巴巴、贝莱德、PayPal、Visa、CenturyLink 是其前五大重仓股；淡马锡前五大买入股分别是：Duck Creek Technologies(DCT.US)、Snowflake、Sea Limited、黄金信托ETF(iShares)、亚马逊。特别为市场关注的是，三季度内，淡马锡清仓了拼多多、蔚来汽车等一度炙手可热的中概股。淡马锡是新加坡参政部负责监管的一家股权投资公司，全球知名投资机构。2019年底，胡润研究院发布的《2019胡润全球独角兽活跃投资机构百强榜》中，淡马锡排名第23位。其在资本市场的买入、卖出动作，均受市场高度关注。淡马锡清仓蔚来汽车、拼多多的信息在市场上沸沸扬扬，高瓴随后披露的三季度持仓情况则显示出了不同的判断。北京时间11月17日，高瓴在美国证监会公布了2020年第三季度末的美股持仓情况。数据显示，高瓴在美股市场持有89家公司的股票，总市值为132亿美元，以生物医疗、互联网、硬科技为主要布局领域。其中，京东、阿里巴巴、拼多多等中概股都是高瓴的持仓股。此外，高瓴在三季度内加大对新能源领域的投资，持仓股包括蔚来汽车、理想汽车等。110家机构三季度清仓蔚来汽车蔚来汽车是新能源汽车领域的知名企业，自称“中国优质电动车市场的先驱”，于2018年9月份完成上市，上市以来涨幅超过628%。今年第三季度，蔚来汽车区间涨幅超过170%，股价从7.79美元一路上涨到21.22美元，区间高点为22.59美元。Wind数据显示，至三季度末，共有358家机构持有蔚来汽车股份，合计持股市值96.39亿美元，持股占比为33.67%，较上一报告期持股比例下滑了0.59个百分点。报告期内，有99家机构选择增持蔚来汽车，201家机构为新进股东，12家机构持股比例不变；此外，也有46家机构在报告期内选择减持蔚来汽车股份，还有110家机构在该报告期内清仓该股票。具体来看，至三季度末，蔚来汽车前十大机构投资者均在报告期内做出了增持或新进的举动。其中最大的机构投资者为BAILLIE GIFFORD & CO，持股数量1.09亿股，持股数占比为8.08%，第三季度内持股比例增加了1115.9万股；第二大机构投资者为BLACKROCK INC.（黑石公司），持股数占比为3.95%，报告期内增持1063.80万股；第三大机构投资者为VANGUARD GROUP INC（先锋集团），持股比例为2.52%，报告期内增持3404.03万股，也是新增持股数量最多的机构。公开信息显示，报告期内，TEMASEK HOLDINGS (PRIVATE) LTD（淡马锡控股）确实清仓了所持有的310.85万股蔚来汽车股票。自2019年底至今年三季度末，淡马锡合计清仓了所持有的4144.70万股蔚来汽车股票。不过，淡马锡只是第三季度清仓蔚来汽车股票的110家投资机构之一，记者梳理，至少包括D. E. SHAW & CO., INC.（德劭集团）、VANGUARD GROUP INC（先锋集团）等机构在第三季度内曾清仓过蔚来汽车，但在报告期内又有买入动作，且持股比例都较大。不过，10月份以来，蔚来汽车股价进一步上涨，至10月1日至11月16日，区间涨幅达到114.8%，16日收盘价已达到45.58美元。逾百家机构三季度清仓拼多多再来看拼多多，该公司于2018年7月份完成赴美上市，上市以来涨幅已超过400%。今年第三季度，拼多多股价呈现下跌态势，区间跌幅13.62%。因而，有多家机构当时减持或清仓了该股票，但有更多机构似乎抓住了“抄底”机遇。数据显示，至三季度末，共有269家机构持有其股份，合计持股市值170.21亿美元，持股占比为19.17%，较上一报告期持股比例下滑了2.22个百分点。报告期内，有79家机构选择增持拼多多，122家机构为新进股东，18家机构持股比例不变；此外，也50家机构（环比减少10.71%）在报告期内选择减持拼多多股份，还有114家机构（较上季度增幅达256.25%）在该报告期内清仓该股票。从持股情况来看，各大机构投资者对拼多多未来预判表现出明显的分化。至三季度末，拼多多的前十大机构投资者中，有5个新进股东，还有3个股东做出了减持举动。具体来看，拼多多最大的机构投资者为BAILLIE GIFFORD & CO，持股数量0.96亿股，持股数占比为2%，它第三季度内减持了752.96万股；第二大机构投资者为TIGER GLOBAL MANAGEMENT LLC（老虎环球管理公司），持股数占比为1.19%，为新进股东；第三大机构投资者为VANGUARD GROUP INC（先锋集团），持股比例为1.16%，报告期内减持247.58万股。值得一提的是，报告期内，除了淡马锡外，包括TIGER GLOBAL MANAGEMENT LLC、FMR LLC（旧年富达）、HILLHOUSE CAPITAL ADVISORS, LTD.等多家机构投资者都曾清仓拼多多，不过TIGER GLOBAL MANAGEMENT LLC在报告期内又有买入动作。10月份以来，拼多多股价明显回升，至10月1日至11月16日，区间涨幅达到91.54%。","news_type":1,"symbols_score_info":{"NIO":0.9,"PDD":0.9}},"isVote":1,"tweetType":1,"viewCount":1555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}