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2021-06-10

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2021-06-08

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Bank of America: Some investment patterns in US stocks since 1928

2021-06-14

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2021-06-11

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Reminder: The lunch break arrangement is here! Hong Kong stocks will be closed for one day on June 14

2021-06-08

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$3 trillion next year! This "big head" has set a "small goal" for Apple

2021-06-07

D

One picture to understand Nayuki's tea IPO

2021-06-03

Jy

Chinese concept education stocks fell collectively, and New Oriental's stock price once plunged by more than 20%

2021-07-30

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Behind "buying a house by ticket", is the big change in the property market really coming?

2021-07-25

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2021-07-14

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2021-08-02

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Opening: U.S. stocks opened higher, Tesla rose more than 2% to return to $700

2021-08-01

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China Evergrande: Selling 11% stake in Hengteng Network for HK $3.25 billion

2021-06-03

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U.S. auto stocks collectively bucked the trend and rose, while Tesla fell alone

2021-06-30

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2021-06-15

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2021-06-10

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2021-06-01

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2021-07-10

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Thorpe and Simmons: The legendary lives of two godfather investment tycoons

2021-07-02

Ok

Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5

2021-06-29

H

[Change] AMD rose more than 3%, and the acquisition of Xilinx was approved by antitrust agencies

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New bull stocks soared 228%","url":"https://stock-news.laohu8.com/highlight/detail?id=1140398755","media":"中国证券报","summary":"截至8月6日晚，已有287家A股公司披露半年报，社保基金、QFII、保险公司等机构的持股情况逐渐浮出水面。百亚股份、锦浪科技、新亚强、诺德股份、永兴材料、艾德生物、信维通信等多家公司被两家机构联合增持","content":"<p><div>As of the evening of August 6th, 287 A-share companies had disclosed their semi-annual reports, and the shareholdings of social security funds, QFII, insurance companies and other institutions gradually surfaced. Many companies such as Baiya, Jinlang Technology, Xinya Qiang, Nord, Yongxing Materials, Aide Bio, and Xinwei Communication were jointly increased by the two institutions. The target that institutions value, the profit-making effect is outstanding! Among them, as of August 7, Jinlang Technology has increased by 227.59% since the second quarter, Nord shares have increased by 156.46% during the same period, and Yongxing Materials has increased by 100.76%. Social Security funds prefer technology Wind information data...</p><p><a href=\"https://mp.weixin.qq.com/s/JD-ud-T3Qw8JTjdHXYoDyw\">Web link</a></div></p>","source":"zgzqb","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>Social security, QFII, and insurance capital increase targets in the second quarter were exposed! New bull stocks soared 228%</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\">\nSocial security, QFII, and insurance capital increase targets in the second quarter were exposed! New bull stocks soared 228%\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中国证券报</strong><span class=\"h-time small\">2021-08-08 07:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>As of the evening of August 6th, 287 A-share companies had disclosed their semi-annual reports, and the shareholdings of social security funds, QFII, insurance companies and other institutions gradually surfaced. Many companies such as Baiya, Jinlang Technology, Xinya Qiang, Nord, Yongxing Materials, Aide Bio, and Xinwei Communication were jointly increased by the two institutions. The target that institutions value, the profit-making effect is outstanding! Among them, as of August 7, Jinlang Technology has increased by 227.59% since the second quarter, Nord shares have increased by 156.46% during the same period, and Yongxing Materials has increased by 100.76%. Social Security funds prefer technology Wind information data...</p><p><a href=\"https://mp.weixin.qq.com/s/JD-ud-T3Qw8JTjdHXYoDyw\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/JD-ud-T3Qw8JTjdHXYoDyw\">中国证券报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ebb146d9df27844cb787ad545c50986d","relate_stocks":{"000001.SH":"上证指数"},"source_url":"https://mp.weixin.qq.com/s/JD-ud-T3Qw8JTjdHXYoDyw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140398755","content_text":"截至8月6日晚，已有287家A股公司披露半年报，社保基金、QFII、保险公司等机构的持股情况逐渐浮出水面。百亚股份、锦浪科技、新亚强、诺德股份、永兴材料、艾德生物、信维通信等多家公司被两家机构联合增持。\n机构看重的标的，赚钱效应突出！其中，截至8月7日，锦浪科技二季度以来累计上涨227.59%%，诺德股份的同期涨幅为156.46%，永兴材料上涨100.76%。\n社保基金偏爱科技\nWind资讯数据显示，截至8月6日，社保基金成为46家上市公司的前十大流通股东。其中，厦门象屿、科尔化学、万华化学和中科创达分别被3只社保基金持有，奥特维、艾华集团、华工科技和锦浪科技分别被2只社保基金持有。社保基金持有市值最多的同样是万华化学和中科创达，分别为45.89亿元和28.81亿元。\n部分社保基金持股市值较高的个股\n\n来源：Wind\n部分社保基金持股数量较多的个股\n\n来源：Wind\n社保基金持股变动方面，二季度社保基金增持最多的公司是厦门象屿和华工科技，增持数量都超过1000万股，分别达到1724.04万股和1532.48万股。另外，锦浪科技、东方财富、鲁西化工、中科创达等9家公司在二季度被社保基金增持超过100万股。\n三安光电、福田汽车、诺德股份、中环股份、兴发集团等15家公司成为二季度社保基金新进持有的公司。\n赤峰黄金、欧普康视、万华化学等6家公司则在二季度被社保基金减持。\n社保基金新进持股情况\n\n来源：Wind\n从行业来看，社保基金在二季度增持的公司集中在电子、计算机、互联网、医药等行业，减持较多的行业为有色等。对于化工行业，社保基金出现一定的分歧，鲁西化工、利尔化学得到社保基金的增持，而万华化学则被社保基金减持，即便是对于万华化学，社保基金也持不同态度，全国社保基金103组合增持109.01万股，全国社保基金111组合增持62.68万股，而全国社保基金108组合却减持了420.38万股。\n这些被社保基金看中的个股表现如何？Wind资讯显示，二季度厦门象屿获得2.08%的涨幅，截至8月7日，7月以来厦门象屿的涨幅高达27.20%；同样，华工科技在二季度获得13.48%的涨幅，7月以来的涨幅则高达24.45%。\nQFII新进19股\nWind数据显示，截至8月7日披露的信息，共有52家上市公司二季度末前十大流通股东名单中出现了QFII机构。\n按照持股数量来看，卫星石化、东方财富、华帝股份、海大集团、拓邦股份等个股被QFII机构持股的数量较多；\n从持有市值来看，海大集团、卫星石化、迈为股份、东方财富、三棵树等个股被QFII重仓持股；\n从占流通股的比例来看，QFII机构在百亚股份、迈为股份、华帝股份、奕瑞科技、卫星石化等个股中的持有比例较高。\nQFII机构持股数量较多的个股\n\n来源：Wind\nQFII机构持股市值较高的个股\n\n来源：Wind\nQFII机构持股占流通股比例较高的个股\n\n来源：Wind\n从增减持方向来看，东方财富、信维通信、海大集团、汤臣倍健、山东海化等个股在二季度被QFII机构增持，其中在中环股份、百隆东方、金晶科技、三鑫医疗、光力科技等19只个股的流通股东名单中，有QFII机构新进。\nQFII机构新进持股情况\n\n来源：Wind\n上述新进的个股中，中环股份二季度的涨幅为36.37%，7月以来的涨幅则为27.46%；百隆东方在二季度录得24.45%的涨幅，7月以来则走势偏弱，期间上涨8.53%。\n险资进入37家公司前十大流通股名单\nWind数据显示，截至8月6日晚间，保险公司成为37家上市公司的前十大流通股东名单。其中，海晨股份被3家保险公司持有，上海钢联、图南股份等8家公司分别被2家保险公司持有。保险公司持有数量最多的是精达股份，持股1.95亿股，持有市值最多的是贵州茅台，达87.92亿元。\n保险公司持股市值较高的个股\n\n来源：Wind\n保险公司持股数量较多的个股\n\n来源：Wind\n保险公司持股变动方面，二季度保险公司增持多家公司股份，增持最多的公司是新亚强，增持180.07万股。\n诺德股份、山西焦煤等12家公司成为二季度保险公司新进持有的公司。\n保险公司新进持股情况\n\n来源：Wind\n险资的选股能力也十分突出。例如新亚强二季度涨幅高达32.21%，7月以来上涨7.85%。险资和社保基金携手新进的诺德股份，在二季度的涨幅已经高达65.71%，而二季度以来截至8月7日，更是累计上涨156.46%；永兴材料二季度以来的涨幅为100.76%。\n而同样被两家联手新进的锦浪科技在二季度上涨103.05%，二季度以来的累计涨幅已经高达227.59%，其走势可谓“旱地拔葱”。\n锦浪科技近期走势\n\n来源：Wind","news_type":1,"symbols_score_info":{"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":2029,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804032750,"gmtCreate":1627911631370,"gmtModify":1703497714174,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/804032750","repostId":"1139994539","repostType":4,"repost":{"id":"1139994539","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627910923,"share":"https://ttm.financial/m/news/1139994539?lang=en_US&edition=fundamental","pubTime":"2021-08-02 21:28","market":"us","language":"zh","title":"Opening: U.S. stocks opened higher, Tesla rose more than 2% to return to $700","url":"https://stock-news.laohu8.com/highlight/detail?id=1139994539","media":"老虎资讯综合","summary":"8月2日（周一），道琼斯指数开盘上涨105.41点，涨幅0.30%，报35040.88点；标普500指数开盘上涨19.64点，涨幅0.45%，报4414.90点；纳斯达克综合指数开盘上涨79.6点，涨","content":"<p>On August 2 (Monday), the Dow Jones index opened up 105.41 points, or 0.30%, to 35040.88 points; The S&P 500 index opened up 19.64 points, or 0.45%, to 4,414.90 points; The Nasdaq Composite Index opened up 79.6 points, or 0.54%, to 14,752.3 points.</p><p><img src=\"https://static.tigerbbs.com/c5c06ce68297a2bd9f1b9f46916cdb0d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The concept of anti-epidemic and shipping sectors rose at the beginning of the session.</p><p>China's new car-making forces collectively announced the delivery volume in July, and they all opened higher at the beginning of the session.<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>、<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It rose more than 3% at the beginning of the session,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Up 0.56%.</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It opened more than 2% higher and is now trading at $703. The stock price has returned to the $700 mark, and its market value is close to $700 billion.,</p><p><img src=\"https://static.tigerbbs.com/7218f14f735e84877a1776c58d752643\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/BEST\">Best Group</a>It rose 3% at the beginning of the session. Today, it announced that it will cooperate with Cainiao to launch cross-border logistics services for Southeast Asia.</p><p><a href=\"https://laohu8.com/S/KC\">Kingsoft Cloud</a>It was higher at the beginning of the session and is now up 4.5%. The company today announced the acquisition of Camelot, a British enterprise management platform, as part of its business transformation.</p><p><a href=\"https://laohu8.com/S/MOMO\">Momo</a>It rose more than 1%, and today the company officially changed its name to \"Hello Group\".</p><p><a href=\"https://laohu8.com/S/VXRT\">Vaxart</a>It rose by more than 15%, and its oral COVID-19 vaccine human trial was approved by the FDA.</p><p><a href=\"https://laohu8.com/S/ONNN\">Ansenmei</a>Semiconductor (ON.O) rose more than 11%, and all indicators of the second quarter financial report exceeded expectations, and turned losses into profits.</p><p>The cruise sector of the U.S. stock market rose at the beginning of the session, with Carnival Cruises rising 4%, Norwegian Cruises rising 3.4%, and Royal Caribbean Cruises rising 3%. Cruise lines resumed route operations last week.</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>Opening: U.S. stocks opened higher, Tesla rose more than 2% to return to $700</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\">\nOpening: U.S. stocks opened higher, Tesla rose more than 2% to return to $700\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-02 21:28</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On August 2 (Monday), the Dow Jones index opened up 105.41 points, or 0.30%, to 35040.88 points; The S&P 500 index opened up 19.64 points, or 0.45%, to 4,414.90 points; The Nasdaq Composite Index opened up 79.6 points, or 0.54%, to 14,752.3 points.</p><p><img src=\"https://static.tigerbbs.com/c5c06ce68297a2bd9f1b9f46916cdb0d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The concept of anti-epidemic and shipping sectors rose at the beginning of the session.</p><p>China's new car-making forces collectively announced the delivery volume in July, and they all opened higher at the beginning of the session.<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>、<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It rose more than 3% at the beginning of the session,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Up 0.56%.</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It opened more than 2% higher and is now trading at $703. The stock price has returned to the $700 mark, and its market value is close to $700 billion.,</p><p><img src=\"https://static.tigerbbs.com/7218f14f735e84877a1776c58d752643\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/BEST\">Best Group</a>It rose 3% at the beginning of the session. Today, it announced that it will cooperate with Cainiao to launch cross-border logistics services for Southeast Asia.</p><p><a href=\"https://laohu8.com/S/KC\">Kingsoft Cloud</a>It was higher at the beginning of the session and is now up 4.5%. The company today announced the acquisition of Camelot, a British enterprise management platform, as part of its business transformation.</p><p><a href=\"https://laohu8.com/S/MOMO\">Momo</a>It rose more than 1%, and today the company officially changed its name to \"Hello Group\".</p><p><a href=\"https://laohu8.com/S/VXRT\">Vaxart</a>It rose by more than 15%, and its oral COVID-19 vaccine human trial was approved by the FDA.</p><p><a href=\"https://laohu8.com/S/ONNN\">Ansenmei</a>Semiconductor (ON.O) rose more than 11%, and all indicators of the second quarter financial report exceeded expectations, and turned losses into profits.</p><p>The cruise sector of the U.S. stock market rose at the beginning of the session, with Carnival Cruises rising 4%, Norwegian Cruises rising 3.4%, and Royal Caribbean Cruises rising 3%. Cruise lines resumed route operations last week.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139994539","content_text":"8月2日（周一），道琼斯指数开盘上涨105.41点，涨幅0.30%，报35040.88点；标普500指数开盘上涨19.64点，涨幅0.45%，报4414.90点；纳斯达克综合指数开盘上涨79.6点，涨幅0.54%，报14752.3点。\n\n抗疫概念、海运板块盘初走高。\n中概造车新势力集体公布7月交付量，盘初齐齐高开。小鹏汽车、理想汽车盘初涨超3%，蔚来涨0.56%。\n特斯拉高开超2%，现报703美元，股价重回700美元关口，市值接近7000亿美元。、\n\n百世集团盘初涨3%，今日宣布将与菜鸟合作推出面向东南亚的跨境物流服务。\n金山云盘初走高，现涨4.5%，公司今日宣布收购英国企业管理平台Camelot，作为业务转型的一部分。\n陌陌涨超1%，今日公司正式更名为“Hello集团”。\nVaxart涨超15%，其口服式新冠疫苗人体试验获FDA批准进行。\n安森美半导体(ON.O)涨超11%，第二季度财报各项指标均超出预期，并实现扭亏为盈。\n美股邮轮板块盘初异动拉升，嘉年华邮轮涨4%，挪威邮轮涨3.4%，皇家加勒比邮轮涨3%。各邮轮公司于上周陆续恢复航线运行。","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3054,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805993153,"gmtCreate":1627831705372,"gmtModify":1703496386944,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/805993153","repostId":"1170169817","repostType":4,"repost":{"id":"1170169817","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627819590,"share":"https://ttm.financial/m/news/1170169817?lang=en_US&edition=fundamental","pubTime":"2021-08-01 20:06","market":"hk","language":"zh","title":"China Evergrande: Selling 11% stake in Hengteng Network for HK $3.25 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1170169817","media":"老虎资讯综合","summary":"8月1日，恒腾网络在港交所公告称，中国恒大出售恒腾网络合计11%股权，总代价为32.5亿港元，每股3.20港元。其中，买方一为腾讯控股全资持有的附属公司，其收购恒腾网络7%股份。截至公告日期，买方一持","content":"<p>On August 1, Hengteng Network announced on the Hong Kong Stock Exchange that China Evergrande sold a total of 11% equity of Hengteng Network for a total consideration of HK $3.25 billion and HK $3.20 per share. Among them, Buyer 1 is a wholly-owned subsidiary of Tencent Holdings, which acquired 7% shares of Hengteng Network. As of the date of the announcement, Buyer 1 holds approximately 16.90% of the issued share capital of Hengteng Network; China Evergrande holds approximately 37.55% of the issued share capital of Hengteng Network.</p><p><img src=\"https://static.tigerbbs.com/4e91ded77d46b3fdfb7cd8634a833e8e\" tg-width=\"1135\" tg-height=\"768\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Evergrande: Selling 11% stake in Hengteng Network for HK $3.25 billion</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\">\nChina Evergrande: Selling 11% stake in Hengteng Network for HK $3.25 billion\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-01 20:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On August 1, Hengteng Network announced on the Hong Kong Stock Exchange that China Evergrande sold a total of 11% equity of Hengteng Network for a total consideration of HK $3.25 billion and HK $3.20 per share. Among them, Buyer 1 is a wholly-owned subsidiary of Tencent Holdings, which acquired 7% shares of Hengteng Network. As of the date of the announcement, Buyer 1 holds approximately 16.90% of the issued share capital of Hengteng Network; China Evergrande holds approximately 37.55% of the issued share capital of Hengteng Network.</p><p><img src=\"https://static.tigerbbs.com/4e91ded77d46b3fdfb7cd8634a833e8e\" tg-width=\"1135\" tg-height=\"768\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c6fcdaee085f89a043698b2126b966fe","relate_stocks":{"00136":"中国儒意","03333":"中国恒大"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170169817","content_text":"8月1日，恒腾网络在港交所公告称，中国恒大出售恒腾网络合计11%股权，总代价为32.5亿港元，每股3.20港元。其中，买方一为腾讯控股全资持有的附属公司，其收购恒腾网络7%股份。截至公告日期，买方一持有恒腾网络已发行股本之约16.90%；而中国恒大持有恒腾网络已发行股本之约37.55%。","news_type":1,"symbols_score_info":{"03333":0.9,"00136":0.9}},"isVote":1,"tweetType":1,"viewCount":3913,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806224386,"gmtCreate":1627659405845,"gmtModify":1703494371306,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/806224386","repostId":"1198370900","repostType":4,"repost":{"id":"1198370900","kind":"news","weMediaInfo":{"introduction":"凤凰网港股官方账号，专注让专业更简单","home_visible":1,"media_name":"凤凰网港股","id":"56","head_image":"https://community-static.tradeup.com/news/63f98f2e899d607a12011e4ecf9c0ac7"},"pubTimestamp":1627658786,"share":"https://ttm.financial/m/news/1198370900?lang=en_US&edition=fundamental","pubTime":"2021-07-30 23:26","market":"sh","language":"zh","title":"Behind \"buying a house by ticket\", is the big change in the property market really coming?","url":"https://stock-news.laohu8.com/highlight/detail?id=1198370900","media":"凤凰网港股","summary":"2021年春节过后，原本平静的武汉楼市突然躁动起来。\n短短两个月的时间里，武汉光谷关山大道的中建大公馆、金地格林东郡、泛悦城等楼盘，从2万元/平方米左右的价格，涨到了3、4万元/平方米。\n而房价飞涨的","content":"<p><b>After the Spring Festival in 2021, the originally calm Wuhan property market suddenly became restless.</b></p><p>In just two months, the price of China Construction Mansion, Gemdale Green East County, Fanyue City and other real estate projects on Guanshan Avenue, Guanggu, Wuhan has risen from about 20,000 yuan/square meter to 30,000 to 40,000 yuan/square meter.</p><p>Behind the soaring house prices, investors from Shenzhen, Xuzhou, Zaozhuang and other places are crazy about \"real estate speculation\" by taking advantage of Wuhan's relatively loose settlement policy and purchase restriction policy.</p><p>At that time, the locals in Wuhan who suffered greatly told the media: \"I hate these foreign real estate speculators. When can the government strictly restrict purchases?\"</p><p>The people of Wuhan didn't wait long. Three months later, on July 28th, Wuhan Housing Authority issued a draft for comments on strengthening the management of house purchase qualifications. After the release of the opinion draft, the topic of \"Wuhan will implement buying a house by house ticket\" quickly caused heated discussion on the Internet.</p><p>Is Wuhan going to enter the era of \"buying a house with a house ticket\"? Some people support this news, some question it, and others worry that \"real estate speculation\" will become \"real estate speculation tickets\".</p><p>However, no matter how you interpret it, the signal of \"tightening\" of the property market released by Wuhan is clear. In fact, Wuhan is not the only city that is \"tightening\" the property market policy.</p><p>Ifeng.com's \"Eye of the Storm\" found that since 2021, local governments including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, etc. have issued stricter regulatory policies for the real estate market.</p><p>With the off-campus education and training industry ushering in subversive changes, many people can't help but ask:<b>Is the great change of China's property market coming?</b></p><p>Bai Wenxi, vice chairman of China Enterprise Capital Alliance and chief economist of IPG China, told Phoenix.com's Eye of the Storm: \"These policies will increase and enhance the difficulty and cost of buying houses for investment demand in the short term, thus curbing the overheating of the property market to a certain extent. However, in the long run, if the actual market supply and demand relationship does not change, and the population, land and financial policies that affect housing prices do not change greatly, it will be difficult to have a substantial impact on housing prices.\"</p><p><img src=\"https://static.tigerbbs.com/93c9284d07634672a560d0f50a2e3314\" tg-width=\"1080\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p><p><b>01. What exactly is \"buying a house by ticket\" in Wuhan?</b></p><p>What are the stipulations of Wuhan's policy of \"buying a house with a house ticket\", which has caused heated discussion on the Internet?</p><p>On July 28th, in order to adhere to the positioning of \"housing for living, not speculation\" and further strengthen the management of housing purchase qualifications in Wuhan, Wuhan Housing Authority issued the Notice of the Municipal Housing Security Housing Authority on Strengthening the Management of Housing Purchase Qualifications (Draft for Comment), and publicly solicited opinions.</p><p><img src=\"https://static.tigerbbs.com/8db8d8c23e8cca1ee4ca8d5d15731bf9\" tg-width=\"1007\" tg-height=\"537\" referrerpolicy=\"no-referrer\"></p><p>According to the opinion draft, in the application for house purchase qualification, intended buyers who meet the purchase restriction area can apply for house purchase qualification through the official platform or through developers and intermediaries.</p><p>The housing management departments of each district shall complete the purchase qualification accreditation within 48 hours from the time of application, and feed back the accreditation results to the applicant. The purchase qualification accreditation results will be valid within 60 days from the date of issuance.</p><p>The \"Draft for Comment\" also requires that after the house purchase registration is completed, the result of the house purchase qualification certification will be locked immediately, and the house purchase registration shall not be carried out again during the lock-up period. After the opening of the sale, the qualification result of house purchase will be automatically unlocked.</p><p>Bai Wenxi told Phoenix.com's \"Eye of the Storm\": \"The related idea of 'buying a house by ticket' in Wuhan is still in the stage of soliciting opinions. This is a proposed system design to strengthen the control of the property market and based on the qualification access of buyers.\"</p><p>Then, what impact will the policy of \"buying a house with a house ticket\" have on the property market in Wuhan?</p><p>Zhuge Housing Data Research Center told Phoenix.com's \"Eye of the Storm\": \"The policy of buying a house by ticket is a new patch policy of the previous policy, and it is also a supplement and improvement to the purchase restriction policy. To a certain extent, it can curb market chaos, play a positive role in regulating real estate market transactions, effectively crack down on some developers who create false hot sales scenes, and to a certain extent, it can curb real estate speculation.\"</p><p>Zhu Xiaohong, president of China Luxury Housing Research Institute, told Phoenix.com's Eye of the Storm: \"Buying a house by ticket is similar to housing intervention in Hong Kong and South Korea. It is good to crack down on real estate speculation and control excessive consumption of housing products, but to prevent'personal gain with room tickets'and'buying and selling room tickets', we must ensure that room tickets are given to the right person.\"</p><p>Bai Wenxi also expressed similar concerns. He said: \"On the surface, room tickets will control demand and crack down on real estate speculation, but in fact they are done by suppressing demand and not increasing supply. If they are not used properly, they may aggravate the contradiction between supply and demand, lead to power corruption, and aggravate all kinds of disguised real estate speculation and underground real estate speculation.\"</p><p><b>02. Local governments have intensively introduced policies, and the signal of \"tightening\" is obvious</b></p><p>In fact, Wuhan's policy adjustment on house purchase qualifications may have started as early as 2020.</p><p>In January last year, Wuhan implemented the whole process of commercial housing qualification verification online. Intended buyers can apply for qualification through official website of Wuhan Housing Authority and inquire about the results. If they pass the examination, they can get the examination information such as number and QR code. This information is valid for purchasing a house within 60 days, and they need to re-apply after expiration.</p><p>It can be seen that as early as 2020, Wuhan City has set up the prototype of the mechanism of \"buying a house with a house ticket\". The draft for comments this time is also a supplement and improvement to the first customs policy.</p><p>In addition to Wuhan, first-tier cities such as Beishangguangshen and Shenzhen, second-and third-tier cities such as Jiaxing, Foshan and Wuxi, and central departments such as the Ministry of Housing and Urban-Rural Development have also successively issued a series of policies to strengthen supervision of the real estate market.</p><p>On January 5, in an interview with the media, Wang Menghui, Minister of Housing and Urban-Rural Development, reiterated the policy principles of adhering to housing for living, not speculation, and implementing the long-term mechanism of real estate, saying that housing for living, not speculation, will remain the main tone of the policy in 2021. At the same time, the long-term mechanism continues to implement and improve signals.</p><p>For example, Shanghai also explicitly continued to implement the pilot project of property tax in January. At the same time, Shanghai also aims at the phenomenon of \"fake divorce, real house purchase\", stipulating that if a husband and wife divorce, if either party purchases commercial housing within 3 years from the date of divorce, the number of housing units owned by the husband and wife shall be calculated according to the total number of households before divorce. Adjust the value-added tax collection and exemption period. Increase the value-added tax exemption period for personal sales of housing from 2 years to 5 years.</p><p>In March, Xi'an also issued a new purchase restriction policy, stipulating that if a house buyer defrauds or evades the purchase restriction policy through \"holding on behalf of others\", he/she and the \"holding on behalf of others\" will be included in the list of untrustworthy buyers in our city, and will not be allowed to buy a house within 5 years</p><p>In June, the Ministry of Finance, the Ministry of Natural Resources, the State Administration of Taxation, and the People's Bank of China jointly issued a notice that four government non-tax revenues, including the income from the transfer of state-owned land use rights, would be transferred to the tax authorities for collection, which once caused heated discussion.</p><p>On July 23rd, eight departments, including the Ministry of Housing and Urban-Rural Development, the National Development and Reform Commission and the Ministry of Public Security, jointly issued a notice on continuously rectifying and standardizing the order of the real estate market, which comprehensively regulated the order of the real estate market from four aspects: real estate development, housing sales, housing leasing and property services.</p><p>On July 30, the China Banking and Insurance Regulatory Commission held a system-wide 2021 mid-year work symposium and discipline inspection and supervision work (video and telephone) symposium. The meeting stressed that it is necessary to strictly implement the requirements of \"three lines and four grades\" and the concentration of real estate loans, so as to prevent bancassurance funds from bypassing and illegally flowing into the real estate market.</p><p>According to the incomplete statistics of Phoenix.com's Eye of the Storm, since January this year, local governments and relevant central departments have issued more than 40 regulatory and regulatory policies for the real estate market and its derivative services. The number and density are relatively rare in recent years.</p><p>Bai Wenxi told Phoenix.com's \"Eye of the Storm\": \"At present, there are three reasons for the adjustment of real estate policies: the first is to prevent financial risks caused by real estate; Second, it is necessary to reduce the total cost of economic operation represented by real estate under the internal circulation mode; Third, it is necessary to reduce the pressure of living costs to increase fertility willingness and maintain sustainable population development.\"</p><p><img src=\"https://static.tigerbbs.com/8a08ad922ffa471f7aea8f0400a29bb4\" tg-width=\"1080\" tg-height=\"1230\" referrerpolicy=\"no-referrer\"></p><p><b>03. Real estate companies \"no longer in the limelight\" and their stock prices sharply pullback/retracement</b></p><p>Policy changes have also directly affected listed companies in the real estate industry.</p><p>Benefiting from the rapid development of China's real estate market in recent years, a large number of giant real estate listed companies have been born in China, and real estate companies were once regarded as a symbol of \"not short of money\".</p><p>Wanda Chairman Wang Jianlin, who has passed away<a href=\"https://laohu8.com/S/BEKE\">Shells</a>Chairman Zuo Hui and other real estate tycoons have all ascended to the throne of \"the richest man\".</p><p>However, with the state beginning to regulate the \"overheated\" real estate market and the introduction of a series of strict regulatory policies, these listed real estate companies have also encountered the problem of \"turning around in a catastrophe\", and problems such as capital chain breakage, income decline, stock price decline and high debt also followed.</p><p>In August last year, the Ministry of Housing and Urban-Rural Development and the People's Bank of China held a symposium on key real estate enterprises in Beijing, which clarified the fund monitoring and financing management rules of key real estate enterprises, which is the \"three red lines\" that have been rumored many times in the industry before.</p><p>According to incomplete statistics from Phoenix.com's \"Eye of the Storm\", among the 40 leading real estate companies listed on Hong Kong stocks and A-shares, more than half of the companies' stock prices are more than 30% away from the highest pullback/retracement within 52 weeks.</p><p><img src=\"https://static.tigerbbs.com/face4ce6faa97c257718c9108ee3c3b8\" tg-width=\"1080\" tg-height=\"1003\" referrerpolicy=\"no-referrer\"></p><p>In fact, during the collective \"big dive\" of A-shares on Monday and Tuesday this week, due to concerns about the policy supervision of the real estate market, A-share real estate stocks also collectively fell sharply.<a href=\"https://laohu8.com/S/000718\">Suning Global</a>、<a href=\"https://laohu8.com/S/600773\">Tibet City Investment</a>It once fell more than 10%.</p><p><img src=\"https://static.tigerbbs.com/0dfca5e8a01f143057cf5d1f41a95b53\" tg-width=\"324\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>04. Is the big change in the property market coming?</b></p><p>Wuhan's policy of \"buying a house with a house ticket\" also reminds many people of \"food stamps\" and \"meat stamps\" in the planned economy era. So, does \"buying a house with a house ticket\" really mean returning to the era of planned economy? Will it trigger other cities to follow up?</p><p><img src=\"https://static.tigerbbs.com/cb31adddcc3e0bf4814fad90b355b71b\" tg-width=\"1080\" tg-height=\"219\" referrerpolicy=\"no-referrer\"></p><p>Bai Wenxi said that it has been nearly 30 years since China bid farewell to the ticket era, and the launch of Wuhan's \"room ticket\" has touched and evoked people's memories of the era of insufficient supply and tickets everywhere in the planned economy era. As one of the industries with the highest public attention, the \"room ticket\" incident in Wuhan, which is still brewing, will most likely be pushed to the \"hot search\".</p><p>Bai Wenxi believes that the room ticket itself is based on the system design of compressing demand by access control, and then changing the relationship between supply and demand in the property market to prevent the property market from overheating. However, the logical regulation of the property market needs to start from both ends of supply and demand. While limiting and suppressing demand with quantitative tools and price tools, it is also necessary to balance the relationship between supply and demand by increasing market supply.</p><p>\"Therefore, if we really want to stabilize the supply and demand relationship in the property market, we should try our best to reduce and eliminate all kinds of control measures at both ends of supply and demand, guide the allocation of resources and factors and reconstruct the supply and demand relationship with the price mechanism, let alone restore the tickets of the planned economy era.\" Bai Wenxi told Phoenix.com's \"Eye of the Storm\".</p><p><img src=\"https://static.tigerbbs.com/b5109cefd2de75f41c0a1a0f3da6acbb\" tg-width=\"720\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p>Whether it's the policy of \"buying a house with a house ticket\" introduced by Wuhan this time, a series of regulatory policies on the real estate market introduced by local governments this year, or the rumored \"real estate tax\" to be introduced soon, do these mean that China's property market will usher in a big change?</p><p>Zhuge Housing Search Data Research Center told Phoenix.com's Eye of the Storm: \"The introduction of real estate tax may usher in another reshuffle of the real estate market.\"</p><p>\"From the current real estate policy adjustment, it is the main tone of China's real estate market to insist on living in housing without speculation. Under this principle, first of all, it is necessary to curb the excessive rise of house prices through policy regulation and promote the market to gradually return to the rational stage; Secondly, constantly improve and standardize the real estate market system, crack down on some behaviors of speculating on house prices and exploiting policy loopholes in time, and promote the healthy development of the real estate market; Third, tilt limited resources to groups in just-needed needs to provide home buyers with a more stable real estate environment. \"</p><p>Zhuge Housing Data Research Center believes that with the introduction of these policies, the interests of the real just-needed groups have been guaranteed, and the mentality of buying houses has gradually become rational, which has played a certain role in inhibiting the excessive rise of house prices. In the long run, after strict policy regulation, housing prices in first-tier cities will tend to run smoothly.</p><p>Bai Wenxi believes that if the property tax is really introduced soon, it does mean that the real estate market will usher in a major change, but in fact, the real estate tax has not been submitted for deliberation according to the legislative procedure, and it will not be introduced soon, and there is no timetable.</p><p>Bai Wenxi said that if these policies do not start with expanding the supply side, but only take measures such as quantitative tools to control demand-side access, such as room tickets, and price tools to control demand-side, such as mortgage ratio and interest rate, the result may just raise the soup and stop boiling, or even rise more and more.</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>Behind \"buying a house by ticket\", is the big change in the property market really coming?</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\">\nBehind \"buying a house by ticket\", is the big change in the property market really coming?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/56\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/63f98f2e899d607a12011e4ecf9c0ac7);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">凤凰网港股 </p>\n<p class=\"h-time smaller\">2021-07-30 23:26</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>After the Spring Festival in 2021, the originally calm Wuhan property market suddenly became restless.</b></p><p>In just two months, the price of China Construction Mansion, Gemdale Green East County, Fanyue City and other real estate projects on Guanshan Avenue, Guanggu, Wuhan has risen from about 20,000 yuan/square meter to 30,000 to 40,000 yuan/square meter.</p><p>Behind the soaring house prices, investors from Shenzhen, Xuzhou, Zaozhuang and other places are crazy about \"real estate speculation\" by taking advantage of Wuhan's relatively loose settlement policy and purchase restriction policy.</p><p>At that time, the locals in Wuhan who suffered greatly told the media: \"I hate these foreign real estate speculators. When can the government strictly restrict purchases?\"</p><p>The people of Wuhan didn't wait long. Three months later, on July 28th, Wuhan Housing Authority issued a draft for comments on strengthening the management of house purchase qualifications. After the release of the opinion draft, the topic of \"Wuhan will implement buying a house by house ticket\" quickly caused heated discussion on the Internet.</p><p>Is Wuhan going to enter the era of \"buying a house with a house ticket\"? Some people support this news, some question it, and others worry that \"real estate speculation\" will become \"real estate speculation tickets\".</p><p>However, no matter how you interpret it, the signal of \"tightening\" of the property market released by Wuhan is clear. In fact, Wuhan is not the only city that is \"tightening\" the property market policy.</p><p>Ifeng.com's \"Eye of the Storm\" found that since 2021, local governments including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, etc. have issued stricter regulatory policies for the real estate market.</p><p>With the off-campus education and training industry ushering in subversive changes, many people can't help but ask:<b>Is the great change of China's property market coming?</b></p><p>Bai Wenxi, vice chairman of China Enterprise Capital Alliance and chief economist of IPG China, told Phoenix.com's Eye of the Storm: \"These policies will increase and enhance the difficulty and cost of buying houses for investment demand in the short term, thus curbing the overheating of the property market to a certain extent. However, in the long run, if the actual market supply and demand relationship does not change, and the population, land and financial policies that affect housing prices do not change greatly, it will be difficult to have a substantial impact on housing prices.\"</p><p><img src=\"https://static.tigerbbs.com/93c9284d07634672a560d0f50a2e3314\" tg-width=\"1080\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p><p><b>01. What exactly is \"buying a house by ticket\" in Wuhan?</b></p><p>What are the stipulations of Wuhan's policy of \"buying a house with a house ticket\", which has caused heated discussion on the Internet?</p><p>On July 28th, in order to adhere to the positioning of \"housing for living, not speculation\" and further strengthen the management of housing purchase qualifications in Wuhan, Wuhan Housing Authority issued the Notice of the Municipal Housing Security Housing Authority on Strengthening the Management of Housing Purchase Qualifications (Draft for Comment), and publicly solicited opinions.</p><p><img src=\"https://static.tigerbbs.com/8db8d8c23e8cca1ee4ca8d5d15731bf9\" tg-width=\"1007\" tg-height=\"537\" referrerpolicy=\"no-referrer\"></p><p>According to the opinion draft, in the application for house purchase qualification, intended buyers who meet the purchase restriction area can apply for house purchase qualification through the official platform or through developers and intermediaries.</p><p>The housing management departments of each district shall complete the purchase qualification accreditation within 48 hours from the time of application, and feed back the accreditation results to the applicant. The purchase qualification accreditation results will be valid within 60 days from the date of issuance.</p><p>The \"Draft for Comment\" also requires that after the house purchase registration is completed, the result of the house purchase qualification certification will be locked immediately, and the house purchase registration shall not be carried out again during the lock-up period. After the opening of the sale, the qualification result of house purchase will be automatically unlocked.</p><p>Bai Wenxi told Phoenix.com's \"Eye of the Storm\": \"The related idea of 'buying a house by ticket' in Wuhan is still in the stage of soliciting opinions. This is a proposed system design to strengthen the control of the property market and based on the qualification access of buyers.\"</p><p>Then, what impact will the policy of \"buying a house with a house ticket\" have on the property market in Wuhan?</p><p>Zhuge Housing Data Research Center told Phoenix.com's \"Eye of the Storm\": \"The policy of buying a house by ticket is a new patch policy of the previous policy, and it is also a supplement and improvement to the purchase restriction policy. To a certain extent, it can curb market chaos, play a positive role in regulating real estate market transactions, effectively crack down on some developers who create false hot sales scenes, and to a certain extent, it can curb real estate speculation.\"</p><p>Zhu Xiaohong, president of China Luxury Housing Research Institute, told Phoenix.com's Eye of the Storm: \"Buying a house by ticket is similar to housing intervention in Hong Kong and South Korea. It is good to crack down on real estate speculation and control excessive consumption of housing products, but to prevent'personal gain with room tickets'and'buying and selling room tickets', we must ensure that room tickets are given to the right person.\"</p><p>Bai Wenxi also expressed similar concerns. He said: \"On the surface, room tickets will control demand and crack down on real estate speculation, but in fact they are done by suppressing demand and not increasing supply. If they are not used properly, they may aggravate the contradiction between supply and demand, lead to power corruption, and aggravate all kinds of disguised real estate speculation and underground real estate speculation.\"</p><p><b>02. Local governments have intensively introduced policies, and the signal of \"tightening\" is obvious</b></p><p>In fact, Wuhan's policy adjustment on house purchase qualifications may have started as early as 2020.</p><p>In January last year, Wuhan implemented the whole process of commercial housing qualification verification online. Intended buyers can apply for qualification through official website of Wuhan Housing Authority and inquire about the results. If they pass the examination, they can get the examination information such as number and QR code. This information is valid for purchasing a house within 60 days, and they need to re-apply after expiration.</p><p>It can be seen that as early as 2020, Wuhan City has set up the prototype of the mechanism of \"buying a house with a house ticket\". The draft for comments this time is also a supplement and improvement to the first customs policy.</p><p>In addition to Wuhan, first-tier cities such as Beishangguangshen and Shenzhen, second-and third-tier cities such as Jiaxing, Foshan and Wuxi, and central departments such as the Ministry of Housing and Urban-Rural Development have also successively issued a series of policies to strengthen supervision of the real estate market.</p><p>On January 5, in an interview with the media, Wang Menghui, Minister of Housing and Urban-Rural Development, reiterated the policy principles of adhering to housing for living, not speculation, and implementing the long-term mechanism of real estate, saying that housing for living, not speculation, will remain the main tone of the policy in 2021. At the same time, the long-term mechanism continues to implement and improve signals.</p><p>For example, Shanghai also explicitly continued to implement the pilot project of property tax in January. At the same time, Shanghai also aims at the phenomenon of \"fake divorce, real house purchase\", stipulating that if a husband and wife divorce, if either party purchases commercial housing within 3 years from the date of divorce, the number of housing units owned by the husband and wife shall be calculated according to the total number of households before divorce. Adjust the value-added tax collection and exemption period. Increase the value-added tax exemption period for personal sales of housing from 2 years to 5 years.</p><p>In March, Xi'an also issued a new purchase restriction policy, stipulating that if a house buyer defrauds or evades the purchase restriction policy through \"holding on behalf of others\", he/she and the \"holding on behalf of others\" will be included in the list of untrustworthy buyers in our city, and will not be allowed to buy a house within 5 years</p><p>In June, the Ministry of Finance, the Ministry of Natural Resources, the State Administration of Taxation, and the People's Bank of China jointly issued a notice that four government non-tax revenues, including the income from the transfer of state-owned land use rights, would be transferred to the tax authorities for collection, which once caused heated discussion.</p><p>On July 23rd, eight departments, including the Ministry of Housing and Urban-Rural Development, the National Development and Reform Commission and the Ministry of Public Security, jointly issued a notice on continuously rectifying and standardizing the order of the real estate market, which comprehensively regulated the order of the real estate market from four aspects: real estate development, housing sales, housing leasing and property services.</p><p>On July 30, the China Banking and Insurance Regulatory Commission held a system-wide 2021 mid-year work symposium and discipline inspection and supervision work (video and telephone) symposium. The meeting stressed that it is necessary to strictly implement the requirements of \"three lines and four grades\" and the concentration of real estate loans, so as to prevent bancassurance funds from bypassing and illegally flowing into the real estate market.</p><p>According to the incomplete statistics of Phoenix.com's Eye of the Storm, since January this year, local governments and relevant central departments have issued more than 40 regulatory and regulatory policies for the real estate market and its derivative services. The number and density are relatively rare in recent years.</p><p>Bai Wenxi told Phoenix.com's \"Eye of the Storm\": \"At present, there are three reasons for the adjustment of real estate policies: the first is to prevent financial risks caused by real estate; Second, it is necessary to reduce the total cost of economic operation represented by real estate under the internal circulation mode; Third, it is necessary to reduce the pressure of living costs to increase fertility willingness and maintain sustainable population development.\"</p><p><img src=\"https://static.tigerbbs.com/8a08ad922ffa471f7aea8f0400a29bb4\" tg-width=\"1080\" tg-height=\"1230\" referrerpolicy=\"no-referrer\"></p><p><b>03. Real estate companies \"no longer in the limelight\" and their stock prices sharply pullback/retracement</b></p><p>Policy changes have also directly affected listed companies in the real estate industry.</p><p>Benefiting from the rapid development of China's real estate market in recent years, a large number of giant real estate listed companies have been born in China, and real estate companies were once regarded as a symbol of \"not short of money\".</p><p>Wanda Chairman Wang Jianlin, who has passed away<a href=\"https://laohu8.com/S/BEKE\">Shells</a>Chairman Zuo Hui and other real estate tycoons have all ascended to the throne of \"the richest man\".</p><p>However, with the state beginning to regulate the \"overheated\" real estate market and the introduction of a series of strict regulatory policies, these listed real estate companies have also encountered the problem of \"turning around in a catastrophe\", and problems such as capital chain breakage, income decline, stock price decline and high debt also followed.</p><p>In August last year, the Ministry of Housing and Urban-Rural Development and the People's Bank of China held a symposium on key real estate enterprises in Beijing, which clarified the fund monitoring and financing management rules of key real estate enterprises, which is the \"three red lines\" that have been rumored many times in the industry before.</p><p>According to incomplete statistics from Phoenix.com's \"Eye of the Storm\", among the 40 leading real estate companies listed on Hong Kong stocks and A-shares, more than half of the companies' stock prices are more than 30% away from the highest pullback/retracement within 52 weeks.</p><p><img src=\"https://static.tigerbbs.com/face4ce6faa97c257718c9108ee3c3b8\" tg-width=\"1080\" tg-height=\"1003\" referrerpolicy=\"no-referrer\"></p><p>In fact, during the collective \"big dive\" of A-shares on Monday and Tuesday this week, due to concerns about the policy supervision of the real estate market, A-share real estate stocks also collectively fell sharply.<a href=\"https://laohu8.com/S/000718\">Suning Global</a>、<a href=\"https://laohu8.com/S/600773\">Tibet City Investment</a>It once fell more than 10%.</p><p><img src=\"https://static.tigerbbs.com/0dfca5e8a01f143057cf5d1f41a95b53\" tg-width=\"324\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>04. Is the big change in the property market coming?</b></p><p>Wuhan's policy of \"buying a house with a house ticket\" also reminds many people of \"food stamps\" and \"meat stamps\" in the planned economy era. So, does \"buying a house with a house ticket\" really mean returning to the era of planned economy? Will it trigger other cities to follow up?</p><p><img src=\"https://static.tigerbbs.com/cb31adddcc3e0bf4814fad90b355b71b\" tg-width=\"1080\" tg-height=\"219\" referrerpolicy=\"no-referrer\"></p><p>Bai Wenxi said that it has been nearly 30 years since China bid farewell to the ticket era, and the launch of Wuhan's \"room ticket\" has touched and evoked people's memories of the era of insufficient supply and tickets everywhere in the planned economy era. As one of the industries with the highest public attention, the \"room ticket\" incident in Wuhan, which is still brewing, will most likely be pushed to the \"hot search\".</p><p>Bai Wenxi believes that the room ticket itself is based on the system design of compressing demand by access control, and then changing the relationship between supply and demand in the property market to prevent the property market from overheating. However, the logical regulation of the property market needs to start from both ends of supply and demand. While limiting and suppressing demand with quantitative tools and price tools, it is also necessary to balance the relationship between supply and demand by increasing market supply.</p><p>\"Therefore, if we really want to stabilize the supply and demand relationship in the property market, we should try our best to reduce and eliminate all kinds of control measures at both ends of supply and demand, guide the allocation of resources and factors and reconstruct the supply and demand relationship with the price mechanism, let alone restore the tickets of the planned economy era.\" Bai Wenxi told Phoenix.com's \"Eye of the Storm\".</p><p><img src=\"https://static.tigerbbs.com/b5109cefd2de75f41c0a1a0f3da6acbb\" tg-width=\"720\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p>Whether it's the policy of \"buying a house with a house ticket\" introduced by Wuhan this time, a series of regulatory policies on the real estate market introduced by local governments this year, or the rumored \"real estate tax\" to be introduced soon, do these mean that China's property market will usher in a big change?</p><p>Zhuge Housing Search Data Research Center told Phoenix.com's Eye of the Storm: \"The introduction of real estate tax may usher in another reshuffle of the real estate market.\"</p><p>\"From the current real estate policy adjustment, it is the main tone of China's real estate market to insist on living in housing without speculation. Under this principle, first of all, it is necessary to curb the excessive rise of house prices through policy regulation and promote the market to gradually return to the rational stage; Secondly, constantly improve and standardize the real estate market system, crack down on some behaviors of speculating on house prices and exploiting policy loopholes in time, and promote the healthy development of the real estate market; Third, tilt limited resources to groups in just-needed needs to provide home buyers with a more stable real estate environment. \"</p><p>Zhuge Housing Data Research Center believes that with the introduction of these policies, the interests of the real just-needed groups have been guaranteed, and the mentality of buying houses has gradually become rational, which has played a certain role in inhibiting the excessive rise of house prices. In the long run, after strict policy regulation, housing prices in first-tier cities will tend to run smoothly.</p><p>Bai Wenxi believes that if the property tax is really introduced soon, it does mean that the real estate market will usher in a major change, but in fact, the real estate tax has not been submitted for deliberation according to the legislative procedure, and it will not be introduced soon, and there is no timetable.</p><p>Bai Wenxi said that if these policies do not start with expanding the supply side, but only take measures such as quantitative tools to control demand-side access, such as room tickets, and price tools to control demand-side, such as mortgage ratio and interest rate, the result may just raise the soup and stop boiling, or even rise more and more.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c3c5822c22b6cfd1d0ae2625b7bc085e","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198370900","content_text":"2021年春节过后，原本平静的武汉楼市突然躁动起来。\n短短两个月的时间里，武汉光谷关山大道的中建大公馆、金地格林东郡、泛悦城等楼盘，从2万元/平方米左右的价格，涨到了3、4万元/平方米。\n而房价飞涨的背后，是来自深圳、徐州、枣庄等地的投资客们，利用武汉市相对宽松的落户政策和限购政策，疯狂“炒房”。\n当时，深受其害的武汉当地人对媒体表示：“恨死了这些外地炒房客，政府啥时候能严格限购啊？”\n武汉人民并未等太久。3个月后，7月28日，武汉市房管局发布了关于加强购房资格管理的征求意见稿。意见稿发布后，“武汉将实施凭房票买房”的话题也迅速在网络上引起热议。\n武汉要进入“凭房票买房”时代了？对这个消息，有人支持，有人质疑，还有人担心“炒房”会变成“炒房票”。\n不过，无论如何解读，武汉释放出的楼市“收紧”的信号则是明确的。实际上，正在“收紧”楼市政策的不止武汉一个城市。\n凤凰网《风暴眼》发现，进入2021年以来，包括北京、上海、广州、深圳、杭州等在内的地方政府，都发布了针对房地产市场的更为严格的监管政策。\n随着校外教培行业迎来颠覆式的大变革，很多人也不禁发问：中国楼市的大变革，也要来了吗？\n中国企业资本联盟副理事长、IPG中国首席经济学家柏文喜对凤凰网《风暴眼》表示：“这些政策在短期内会加大和提升投资性需求的购房难度与成本，从而从一定程度上抑制楼市过热问题。但长期来看，如果实际的市场供求关系不改变，影响房价的人口、土地、金融政策不作大的改变，则很难对房价产生实质性影响。”\n\n01、武汉的“凭票买房”，到底是什么？\n在网上引起热议的武汉“凭房票买房”的政策，到底规定了哪些内容呢？\n7月28日，为坚持“房住不炒”定位，进一步加强武汉市购房资格管理工作，武汉市房管局发布《市住房保障房管局关于加强购房资格管理工作的通知（征求意见稿）》，并公开征求意见。\n\n根据意见稿，在购房资格申请上，符合限购区域购买住房的意向购房人可通过官方平台或者通过开发商和中介机构申请购房资格。\n各区房管部门在申请之时起48个小时内完成购房资格认定，并将认定结果反馈给申请人，购房资格认定结果自出具之日起60日内有效。\n《征求意见稿》还要求，购房登记完成后，购房资格认定结果即时锁定，锁定期间不得再次进行购房登记。开盘销售后，购房资格认定结果自动解除锁定。\n柏文喜对凤凰网《风暴眼》表示：“武汉‘凭票买房’的相关设想目前尚处于征求意见阶段，这是为加强楼市管控、立足于购房者资格准入提出的拟意中的制度设计。”\n那么，“凭房票购房”的政策出台后，会对武汉的楼市造成哪些影响呢？\n诸葛找房数据研究中心对凤凰网《风暴眼》表示：“凭票买房政策，是前期政策的一个打补丁新政，也是对限购政策的补充完善，一定程度上可以遏制市场乱象，对规范房地产市场交易有着积极作用，较有力地打击了部分制造虚假热售场面的开发商，一定程度上可以抑制炒房现象。”\n中国豪宅研究院院长朱晓红对凤凰网《风暴眼》表示：“凭票买房与香港、韩国的住房干预有异曲同工之处。对打击炒房，控制过度消费住房产品有好处，但要防止‘以房票谋私’和‘房票买卖’，一定要确保房票给对人。”\n柏文喜也表达了类似的担忧，他表示：“房票表面上会控制需求和打击炒房，但实际上是通过压抑需求和不增加供给进行的，如果运用不当，可能反而会加剧供求矛盾，引发权力腐败、加剧各类变相炒房和地下炒房等行为。”\n02、地方政府密集出台政策，“收紧”信号明显\n实际上，武汉市对于购房资格的政策调整，可能早在2020年就已经开始了。\n去年1月，武汉实行了商品房资格核查全程网办，意向购房者可通过武汉市房管局官网申请资格并查询结果，如果通过审核，即可获取编号和二维码等审核资料信息，该资料60日内购房有效，过期需重新申请。\n可以看出，早在2020年武汉市就已搭建出“凭房票买房”的机制雏形。而此次的征求意见稿，也是对先关政策的补充和完善。\n而除了武汉外，北上广深等一线城市，嘉兴、佛山、无锡等二三线城市，以及住建部等中央部门，也都陆续发布了一系列政策来对房地产市场加强监管。\n1月5日，住建部部长王蒙徽在接受媒体采访时，重申了坚持房住不炒，落实房地产长效机制等政策原则，表示2021年房住不炒仍然作为政策主基调不改变，同时长效机制不断落实完善的信号。\n例如，上海市也在1月份明确继续实施房产税试点。同时，上海市还针对“假离婚，真购房”现象，规定：夫妻离异的，任何一方自夫妻离异之日起3年内购买商品住房的，其拥有住房套数按离异前家庭总套数计算。调整增值税征免年限。将个人对外销售住房增值税征免年限从2年提高至5年。\n3月，西安也发布限购新政，规定购房人骗取或通过“代持”方式规避限购政策的，其本人及“代持人”将列入我市购房失信人员名册，5年内不得购房\n6月，财政部、自然资源部、税务总局、人民银行联合发布通知，国有土地使用权出让收入等四项政府非税收入将划转税务部门征收，一度引起热议。\n7月23日，住建部、发改委、公安部等八部门共同发布关于持续整治规范房地产市场秩序的通知，从房地产开发、房屋买卖、住房租赁以及物业服务四个方面切入，对房地产市场秩序进行全面规范。\n7月30日，银保监会召开全系统2021年年中工作座谈会暨纪检监察工作（电视电话）座谈会。会议强调，要严格执行“三线四档”和房地产贷款集中度要求，防止银行保险资金绕道违规流入房地产市场。\n据凤凰网《风暴眼》不完全统计，从今年1月至今，各地政府和中央相关部门共发布了超过40项针对房地产市场以及其衍生服务的监管和调控政策。数量之多，密度之大，在近年来都是比较罕见的。\n柏文喜对凤凰网《风暴眼》表示：“目前针对房地产政策的调整的原因有三个：第一是防范房地产引发的金融风险问题；第二是内循环模式下需要降低以房地产为代表的经济运行总成本；第三是提升生育意愿和保持人口可持续发展需要降低居住成本压力。”\n\n03、地产公司“风头不再” 股价大幅回撤\n政策的变化，也直接影响到了地产行业的上市公司身上。\n受益于中国房地产市场近年来的快速发展，中国也诞生了一大批巨无霸类的地产上市公司，地产企业也一度被视为“不差钱”的象征。\n万达董事长王健林、已经去世的贝壳董事长左晖等地产大亨们，都曾登上过“首富”的宝座。\n然而随着国家开始对“过热”的房地产市场进行调控，以及一系列严格的监管政策的出台，这些地产上市公司也纷纷遭遇了“船大难掉头”的难题，资金链断裂、收入下滑、股价下跌、高额负债等问题也随之而来。\n去年8月，住房城乡建设部、人民银行在北京召开重点房地产企业座谈会，明确了重点房地产企业资金监测和融资管理规则，也就是此前业内多次传闻的“三条红线”。\n据凤凰网《风暴眼》不完全统计，在港股和A股上市的40家头部地产公司中，有一半以上的公司股价在52周内距最高点回撤超过30%。\n\n事实上，就在本周一、周二的A股集体“大跳水”中，出于对房地产市场政策监管的担忧情绪，A股地产股也集体大跌，苏宁环球、西藏城投一度跌超10%。\n\n04、楼市的大变革，要来了吗\n武汉“凭房票买房”政策，也让很多人联想到了计划经济时代的“粮票”、“肉票”。那么，“凭房票购房”，是否真的意味着回到计划经济时代？是否又会引发其他城市跟进？\n\n柏文喜表示，中国告别票证时代已近三十年了，而武汉“房票”的推出触碰和勾起了了人们对计划经济年代供给不足、处处票证的时代记忆，房地产作为公众关注度最高的行业之一，尚在酝酿之中的武汉“房票”事件大概率会被推上“热搜”。\n柏文喜认为，房票本身是立足于以准入管制来压缩需求，进而改变楼市供求关系以防止楼市过热的制度设计。但是楼市调控逻辑上需要从供求两端着手，在以数量工具与价格工具限制与压抑需求的同时，还要通过增加市场供给来平衡供求关系。\n“因此，真正要平抑楼市供求关系的话，则要尽量减少和消除供求两端的各类管制措施，以价格机制引导资源和要素配置并重构供求关系，更不能恢复计划经济时代的票证。”柏文喜对凤凰网《风暴眼》表示。\n\n无论是武汉市此次出台的“凭房票买房”的政策，还是今年以来各地政府出台的一系列对房地产市场的监管政策，抑或是传闻中即将出台的“房地产税”，这些是否意味着中国楼市将迎来一次大变革呢？\n诸葛找房数据研究中心对凤凰网《风暴眼》表示：“房地产税的出台，或将迎来房地产市场的又一次洗牌。”\n“从目前房地产政策调整来看，坚持房住不炒是我国房地产市场的主基调。在此原则之下，首先需通过政策调控抑制房价上涨过快，促进市场逐渐回归理性阶段；其次，不断完善和规范房地产市场体系，对一些炒作房价、钻政策空子的行为及时进行打击，促进房地产市场健康发展；第三，将有限的资源向刚需群体倾斜，为购房者提供一个更为稳定的房地产环境。”\n诸葛找房数据研究中心认为，随着这些政策出台，真正的刚需群体利益得到保障，购房心态也逐渐理性，对房价过快上涨起到一定的抑制作用。长期来看，一线城市房价在经过严格的政策调控后，房价将趋于平稳运行。\n柏文喜认为，如果房产税真的很快出台，确实意味着房地产市场将迎来一次大变革，但是事实上房地产税按照立法程序尚未提交审议，是不会很快出台，也没有时间表的。\n柏文喜表示，这些政策如果不是从扩大供给端入手，而是仅仅采取控制需求端准入的数量工具如房票、控制需求端的价格工具如按揭成数与利率等措施，结果可能只是扬汤止沸，甚至越调越涨。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4040,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177980261,"gmtCreate":1627175634753,"gmtModify":1703485011521,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/177980261","repostId":"2154558939","repostType":4,"isVote":1,"tweetType":1,"viewCount":2758,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174714159,"gmtCreate":1627138973271,"gmtModify":1703484725822,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/174714159","repostId":"1194494092","repostType":4,"repost":{"id":"1194494092","kind":"news","pubTimestamp":1627109486,"share":"https://ttm.financial/m/news/1194494092?lang=en_US&edition=fundamental","pubTime":"2021-07-24 14:51","market":"sh","language":"zh","title":"The \"secret\" of ten times the base, how can Christians really make money?","url":"https://stock-news.laohu8.com/highlight/detail?id=1194494092","media":" 兴证全球基金","summary":"挖掘出十倍的投资标的，无疑是所有投资者的梦想。正所谓难以实现才叫梦想，但是我们发现身边依旧有着这样一些“梦想实现者”。他们是如何做到的呢？\n为什么是十倍？\n“十倍”（Tenbagger）是美国投资大师","content":"<p>It is undoubtedly the dream of all investors to dig out ten times the investment target. As the saying goes, it is difficult to realize a dream, but we find that there are still some \"dream realizers\" around us. How do they do it?</p><p><b>Why tenfold?</b></p><p>\"Tenbagger\" is a word mentioned by American investment guru Peter Lynch in his autobiography \"One Up On Wall Street\".</p><p>It roughly means a stock whose stock price can rise 10 times after long-term development and with the support of revenue and profit growth.</p><p>Peter Lynch once wrote in his autobiography:<b>The best way to find ten-fold stocks is to start from the side. If you can't find them there, go to the shopping mall to look for them. His early attachment with ten-fold stocks also started from the \"side\".</b></p><p>Peter Lynch once found that all three of his daughters were using cosmetics from a company called The body Shop. Although The body Shop is a beauty brand, most of its chain stores in Europe and America are located in more conspicuous places such as street corners, not just in shopping malls.</p><p>Peter Lynch's research found that this company's products are relatively standardized, the price is affordable, and its customers cover a wide age group. Expansion by increasing franchise chain stores, and multinational operation from the beginning, the market expansion ability is very strong.</p><p>Peter Lynch seized the opportunity, and after The body Shop went public in the UK, the share price climbed steadily, eventually becoming a veritable Tenbagger (ten-fold stock).</p><p><b>Tenbagger in Public Offering of Fund Market</b></p><p>Tenbagger was later extended to the fund circle, which refers to funds whose net value has increased ten times or more compared with the time of issuance. As of June 25, 2021, there are 56 tenfold funds in domestic public funds. (Data source: Galaxy Securities, as of 2021/6/25)</p><p>What kind of markets have these funds experienced, and what are their common characteristics?</p><p><b>Birth-mostly born in or before 2006</b></p><p>Among the 56 funds, except for 2 funds, the remaining 54 funds were established in 2006 and before. They have experienced the big bull market from 2006 to 2007, and also experienced the market decline in 2008. They have gone through several bull-bear conversions. As of June 25, 2021, the average establishment time is 16.6 years. (Data source: Galaxy Securities, as of 2021/6/25)</p><p><b>It can be seen that a good investment does take time to witness.</b></p><p>The establishment time of ten-fold base and the corresponding index point</p><p><img src=\"https://static.tigerbbs.com/2287c6895d9a9cc1d15c36637e290d10\" tg-width=\"1000\" tg-height=\"407\" referrerpolicy=\"no-referrer\"></p><p>Data source: Galaxy Securities, as of June 25, 2021, the bar chart represents the ten-fold number of funds established in that year, the line chart represents the Shanghai Composite Index, the left axis is the corresponding index point, and the right axis is the number of funds established. Historical performance does not represent the future, so fund investment needs to be cautious.</p><p><b>Growth-not always the top few in the \"class\"</b></p><p>During the growth process of ten-fold funds, we found that they rarely rank among the top of their class in a single year in a row. One of the important reasons is that these funds are less likely to pursue short-term hot spots and abandon long-term investment strategies and styles.</p><p>Among the 56 ten-fold funds, only 7 funds have won the championship in the same category (2007-2020), 13 funds have not entered the top 10 of the same category in a single year, and few funds have been ranked in the same category for two consecutive years. top 10. (Data source: Galaxy Securities, as of June 25, 2021)</p><p>We have listed the annual \"report cards\" of the top ten-fold funds. These funds cannot always be in the top quarter in the short term, but their value is highlighted under the influence of time.</p><p>Part of the ten-fold base \"report card\"</p><p><img src=\"https://static.tigerbbs.com/971280df3e4665bafe1a50e179559917\" tg-width=\"1000\" tg-height=\"506\" referrerpolicy=\"no-referrer\"></p><p>Data source: Galaxy Securities, as of 2021/6/25. Historical performance does not represent the future, so fund investment needs to be cautious.</p><p><b>Adults-Solving \"difficult problems\" is a compulsory course</b></p><p>The A-share market has short bulls and long bears. Ten times base has often experienced several bear markets, and difficult problems are also their compulsory courses.</p><p>We have selected several typical unilateral downward markets in the A-share market, and the average decline of ten-fold base in these markets is lower than that of Shanghai Composite Index and partial stock fund index.</p><p>Ten-fold basis unilateral downward market performance</p><p><img src=\"https://static.tigerbbs.com/7eb0ab7b7db6441e489079d3818e347c\" tg-width=\"1000\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p><p>Data source: wind, Galaxy Securities, as of 2021/6/25</p><p>Although this is a \"God's perspective\" method of inquiry, the performance of these funds in the unilateral downward market still gives us some inspiration.</p><p>One of the most important things is,<b>\"Seek undefeated first, then win\", and sophisticated investors are familiar with it, a 50% drop requires about 100% increase to get back to the original point</b>。</p><p>Not only that, in the regular reports of ten times base, we found that during the hot market period, most ten times funds have a certain defensive tendency towards the market. In the first quarterly report of 2007, the reports of many of the above funds mentioned \"improving the defensiveness of the portfolio\"; In 2015, some ten-fold fund reports mentioned \"reducing shareholding concentration\" and so on.</p><p><b>Therefore, the ten-fold base not only relies on the rise in the \"easy\" market, but also relies on the fact that it will not perform too badly when facing difficult \"test papers\".</b></p><p><b>Success-the bonus of \"family background\" and \"noble people\"</b></p><p>When exploring the ten-fold base, fund companies and fund managers play an important role.</p><p>Most of the ten times base's family background have solid investment and research capabilities, which is one of the foundations to support the long-term excellent performance of the fund.</p><p><b>From the perspective of fund managers, a good fund manager can be described as a \"noble person\" with ten times the base.</b></p><p>Huabao Securities once produced a four-quadrant diagram of fund managers to depict the industry allocation and investment philosophy of fund managers.</p><p>Overall, there are more ten-fold fund managers in the left quadrant, that is, industries are scattered or concentrated, and industries are less switched. Industry balance and dispersion + less industry switching can control the risk of the portfolio as much as possible; Fund managers with centralized industry allocation + less industry switching are usually firmly optimistic about a certain high-quality track and hold it for a long time.</p><p><img src=\"https://static.tigerbbs.com/b85062db9868a316890ff75fbab0ea3b\" tg-width=\"524\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p><p>Source: Warburg Securities</p><p>Of course, when choosing a ten-fold base, you should also pay attention to analyzing the time in management and related performance of the current fund manager, and choose products that are more in line with your risk-return preferences.</p><p><b>Who is guarding the \"ten times base\"?</b></p><p><b>In fact, the holders will also experience the growth, adulthood and \"difficult periods\" in the process of a fund. Many people can accompany the fund for one year, but few people can accompany the fund for ten years.</b></p><p><b>The idea of long-term investment is to be a friend of time. 'The most romantic thing I can think of is to grow old with you'.</b></p><p><b>--Mr. Li held the fund for 17 years</b></p><p><b>The longest-term fund investment lasts for more than 10 years, and it was originally bought with children's lucky money. I believe that the long-term power of investment will always persist.</b></p><p><b>--Ms. Han held the fund for 13 years</b></p><p><b>It's possible that I'm the only one who has only bought but not sold since it was released.</b></p><p><b>--\"Looking for Trend Million Holders\" activity message</b></p><p><b>Only through the accumulation and hard work of time can we gain the possibility of qualitative change, grow together and move forward together.</b></p><p><b>--Christians in the discussion forum</b></p><p>Investors have done relevant research and found the holders of the ten-fold base from the regular reports of the fund. Their characteristics are that they dare to buy when the market panics and are more patient than most investors. Some people say that Maybe he \"forgot\" his position, but this \"forgetting\" has also become a staunch guardian of the ten-fold base from another aspect.</p><p><b>Finally, reasonable expectations are the prerequisite for investment and companionship. The road to investment requires both strength and endurance. If it is a high-quality fund, you might as well give it more time to allow the value to accumulate.</b></p>","source":"lsy1619314504794","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 \"secret\" of ten times the base, how can Christians really make money?</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 \"secret\" of ten times the base, how can Christians really make money?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\"> 兴证全球基金</strong><span class=\"h-time small\">2021-07-24 14:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It is undoubtedly the dream of all investors to dig out ten times the investment target. As the saying goes, it is difficult to realize a dream, but we find that there are still some \"dream realizers\" around us. How do they do it?</p><p><b>Why tenfold?</b></p><p>\"Tenbagger\" is a word mentioned by American investment guru Peter Lynch in his autobiography \"One Up On Wall Street\".</p><p>It roughly means a stock whose stock price can rise 10 times after long-term development and with the support of revenue and profit growth.</p><p>Peter Lynch once wrote in his autobiography:<b>The best way to find ten-fold stocks is to start from the side. If you can't find them there, go to the shopping mall to look for them. His early attachment with ten-fold stocks also started from the \"side\".</b></p><p>Peter Lynch once found that all three of his daughters were using cosmetics from a company called The body Shop. Although The body Shop is a beauty brand, most of its chain stores in Europe and America are located in more conspicuous places such as street corners, not just in shopping malls.</p><p>Peter Lynch's research found that this company's products are relatively standardized, the price is affordable, and its customers cover a wide age group. Expansion by increasing franchise chain stores, and multinational operation from the beginning, the market expansion ability is very strong.</p><p>Peter Lynch seized the opportunity, and after The body Shop went public in the UK, the share price climbed steadily, eventually becoming a veritable Tenbagger (ten-fold stock).</p><p><b>Tenbagger in Public Offering of Fund Market</b></p><p>Tenbagger was later extended to the fund circle, which refers to funds whose net value has increased ten times or more compared with the time of issuance. As of June 25, 2021, there are 56 tenfold funds in domestic public funds. (Data source: Galaxy Securities, as of 2021/6/25)</p><p>What kind of markets have these funds experienced, and what are their common characteristics?</p><p><b>Birth-mostly born in or before 2006</b></p><p>Among the 56 funds, except for 2 funds, the remaining 54 funds were established in 2006 and before. They have experienced the big bull market from 2006 to 2007, and also experienced the market decline in 2008. They have gone through several bull-bear conversions. As of June 25, 2021, the average establishment time is 16.6 years. (Data source: Galaxy Securities, as of 2021/6/25)</p><p><b>It can be seen that a good investment does take time to witness.</b></p><p>The establishment time of ten-fold base and the corresponding index point</p><p><img src=\"https://static.tigerbbs.com/2287c6895d9a9cc1d15c36637e290d10\" tg-width=\"1000\" tg-height=\"407\" referrerpolicy=\"no-referrer\"></p><p>Data source: Galaxy Securities, as of June 25, 2021, the bar chart represents the ten-fold number of funds established in that year, the line chart represents the Shanghai Composite Index, the left axis is the corresponding index point, and the right axis is the number of funds established. Historical performance does not represent the future, so fund investment needs to be cautious.</p><p><b>Growth-not always the top few in the \"class\"</b></p><p>During the growth process of ten-fold funds, we found that they rarely rank among the top of their class in a single year in a row. One of the important reasons is that these funds are less likely to pursue short-term hot spots and abandon long-term investment strategies and styles.</p><p>Among the 56 ten-fold funds, only 7 funds have won the championship in the same category (2007-2020), 13 funds have not entered the top 10 of the same category in a single year, and few funds have been ranked in the same category for two consecutive years. top 10. (Data source: Galaxy Securities, as of June 25, 2021)</p><p>We have listed the annual \"report cards\" of the top ten-fold funds. These funds cannot always be in the top quarter in the short term, but their value is highlighted under the influence of time.</p><p>Part of the ten-fold base \"report card\"</p><p><img src=\"https://static.tigerbbs.com/971280df3e4665bafe1a50e179559917\" tg-width=\"1000\" tg-height=\"506\" referrerpolicy=\"no-referrer\"></p><p>Data source: Galaxy Securities, as of 2021/6/25. Historical performance does not represent the future, so fund investment needs to be cautious.</p><p><b>Adults-Solving \"difficult problems\" is a compulsory course</b></p><p>The A-share market has short bulls and long bears. Ten times base has often experienced several bear markets, and difficult problems are also their compulsory courses.</p><p>We have selected several typical unilateral downward markets in the A-share market, and the average decline of ten-fold base in these markets is lower than that of Shanghai Composite Index and partial stock fund index.</p><p>Ten-fold basis unilateral downward market performance</p><p><img src=\"https://static.tigerbbs.com/7eb0ab7b7db6441e489079d3818e347c\" tg-width=\"1000\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p><p>Data source: wind, Galaxy Securities, as of 2021/6/25</p><p>Although this is a \"God's perspective\" method of inquiry, the performance of these funds in the unilateral downward market still gives us some inspiration.</p><p>One of the most important things is,<b>\"Seek undefeated first, then win\", and sophisticated investors are familiar with it, a 50% drop requires about 100% increase to get back to the original point</b>。</p><p>Not only that, in the regular reports of ten times base, we found that during the hot market period, most ten times funds have a certain defensive tendency towards the market. In the first quarterly report of 2007, the reports of many of the above funds mentioned \"improving the defensiveness of the portfolio\"; In 2015, some ten-fold fund reports mentioned \"reducing shareholding concentration\" and so on.</p><p><b>Therefore, the ten-fold base not only relies on the rise in the \"easy\" market, but also relies on the fact that it will not perform too badly when facing difficult \"test papers\".</b></p><p><b>Success-the bonus of \"family background\" and \"noble people\"</b></p><p>When exploring the ten-fold base, fund companies and fund managers play an important role.</p><p>Most of the ten times base's family background have solid investment and research capabilities, which is one of the foundations to support the long-term excellent performance of the fund.</p><p><b>From the perspective of fund managers, a good fund manager can be described as a \"noble person\" with ten times the base.</b></p><p>Huabao Securities once produced a four-quadrant diagram of fund managers to depict the industry allocation and investment philosophy of fund managers.</p><p>Overall, there are more ten-fold fund managers in the left quadrant, that is, industries are scattered or concentrated, and industries are less switched. Industry balance and dispersion + less industry switching can control the risk of the portfolio as much as possible; Fund managers with centralized industry allocation + less industry switching are usually firmly optimistic about a certain high-quality track and hold it for a long time.</p><p><img src=\"https://static.tigerbbs.com/b85062db9868a316890ff75fbab0ea3b\" tg-width=\"524\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p><p>Source: Warburg Securities</p><p>Of course, when choosing a ten-fold base, you should also pay attention to analyzing the time in management and related performance of the current fund manager, and choose products that are more in line with your risk-return preferences.</p><p><b>Who is guarding the \"ten times base\"?</b></p><p><b>In fact, the holders will also experience the growth, adulthood and \"difficult periods\" in the process of a fund. Many people can accompany the fund for one year, but few people can accompany the fund for ten years.</b></p><p><b>The idea of long-term investment is to be a friend of time. 'The most romantic thing I can think of is to grow old with you'.</b></p><p><b>--Mr. Li held the fund for 17 years</b></p><p><b>The longest-term fund investment lasts for more than 10 years, and it was originally bought with children's lucky money. I believe that the long-term power of investment will always persist.</b></p><p><b>--Ms. Han held the fund for 13 years</b></p><p><b>It's possible that I'm the only one who has only bought but not sold since it was released.</b></p><p><b>--\"Looking for Trend Million Holders\" activity message</b></p><p><b>Only through the accumulation and hard work of time can we gain the possibility of qualitative change, grow together and move forward together.</b></p><p><b>--Christians in the discussion forum</b></p><p>Investors have done relevant research and found the holders of the ten-fold base from the regular reports of the fund. Their characteristics are that they dare to buy when the market panics and are more patient than most investors. Some people say that Maybe he \"forgot\" his position, but this \"forgetting\" has also become a staunch guardian of the ten-fold base from another aspect.</p><p><b>Finally, reasonable expectations are the prerequisite for investment and companionship. The road to investment requires both strength and endurance. If it is a high-quality fund, you might as well give it more time to allow the value to accumulate.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/yZkwS_Je07rH8a47gyUlEA\"> 兴证全球基金</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/753c9aba3202037bc97463c545d5d015","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/yZkwS_Je07rH8a47gyUlEA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194494092","content_text":"挖掘出十倍的投资标的，无疑是所有投资者的梦想。正所谓难以实现才叫梦想，但是我们发现身边依旧有着这样一些“梦想实现者”。他们是如何做到的呢？\n为什么是十倍？\n“十倍”（Tenbagger）是美国投资大师彼得·林奇在其自传《One Up On Wall Street》中提及的词汇。\n大概意思是指企业经过长期发展，在营收与利润增长的支持下，股价能够上涨10倍的股票。\n彼得·林奇在自传中曾写道：寻找十倍股最佳的方式就是从身边找起，在那里找不到，就去购物中心里去找，而他早期与十倍股结缘，也正是从“身边”开始的。\n彼得·林奇有一次发现自己的三个女儿都在使用来自一家名叫美体小铺（The body Shop）公司的化妆品。The body Shop 虽然是一个美妆品牌，但它在欧美地区的大多数连锁店，都是开在街角等较为显眼的地方，而不仅仅是在商场里。\n彼得·林奇研究发现，这家公司的产品相对标准化，价格亲民，客户覆盖的年龄段相当宽泛。通过增加特许连锁店的方式进行扩张，而且一开始就进行跨国经营，市场扩张能力很强。\n彼得·林奇把握住了这一机会，The body Shop 在英国上市后，股价节节攀升，最终成为名副其实的Tenbagger（十倍股）。\n公募基金市场中的Tenbagger\nTenbagger后来也被延用到了基金圈，意指基金净值较发行时增长十倍及以上的基金，截至到2021年6月25日，国内公募基金共有56只十倍基。（数据来源：银河证券，截至2021/6/25）\n这些基金都经历过怎样的市场，又都有什么共同的特点呢？\n出生——大部分生于2006年及之前\n在56只基金中，除了2只基金，其余54只基金均成立于2006年及之前，经历过2006年-2007年的大牛市，也经历过2008年市场下跌，历经数度牛熊转换，截至2021年6月25日，平均成立时间16.6年。（数据来源：银河证券，截至2021/6/25）\n可见，好的投资，确实需要时间的见证。\n十倍基成立时间及对应指数点位\n\n数据来源：银河证券，截至2021/6/25，柱状图代表在当年成立的十倍基数量，折线图代表沪指，左侧轴为相对应指数点位，右侧为基金成立数量。历史业绩不代表未来，基金投资需谨慎。\n成长——不总是“班上”前几名\n在十倍基的成长过程中，我们发现，它们很少能连续在单一年度业绩排在同类前几名，其中重要的原因之一是，这些基金较少会追求短期热点而放弃长期坚持的投资策略和风格。\n在56只十倍基中，仅有7只基金曾获得过同类别冠军（2007年-2020年），有13只基金未进入过单一年度同类前10，鲜有基金能连续两年排进同类前10。（数据来源：银河证券，截至2021/6/25）\n我们罗列了排在前几位的十倍基每年的“成绩单”，这些基金在短期内无法总在前1/4，但在时间的作用下价值凸显。\n部分十倍基“成绩单”\n\n数据来源：银河证券，截至2021/6/25。历史业绩不代表未来，基金投资需谨慎。\n成人——解决“难题”是必修课\nA股市场牛短熊长，十倍基往往都经历过数个熊市，而难题也是它们的必修课。\n我们选取了A股市场中几个较为典型的单边下行市场，十倍基在这些市场中的平均跌幅均低于上证指数及偏股基金指数。\n十倍基单边下行市场表现情况\n\n数据来源：wind，银河证券，截至2021/6/25\n尽管这是一种“上帝视角”的探究方式，但这些基金在单边下行市场中的表现，还是给了我们一定的启发。\n其中很重要的一条是，“先求不败，再求胜”，而老练的投资者熟知，下跌50%，需要约100%的涨幅才能回到原点。\n不仅如此，在十倍基的定期报告中我们发现，在市场较热时期，大部分的十倍基金对市场都有一定的防守倾向，2007年一季报中，上述基金中多只基金的报告中提到“提高组合防御性”；2015年部分十倍基金报告中提及“降低持股集中度”等。\n所以，十倍基不仅仅是靠着“容易”市场中的上涨，还靠着在面对难“试卷”的时候，也不会表现得太差。\n成功 —— “家世”与“贵人”的加成\n探究十倍基，基金公司及基金经理扮演着重要的角色。\n十倍基的家世，多数都拥有扎实的投研实力，这是支撑基金长期业绩优异的基础之一。\n从基金经理来看，好的基金经理可谓是十倍基的“贵人”。\n华宝证券曾制作基金经理四象限图，刻画基金经理的行业配置及投资理念。\n整体来看，十倍基基金经理在左侧象限较多，即行业分散或集中、行业少切换。行业均衡分散+行业少切换可以尽可能控制组合的风险；行业集中配置+行业少切换的基金经理通常较为坚定看好某一优质赛道并长期持有。\n\n资料来源：华宝证券\n当然，在选择十倍基的时候，也要注意分析现任基金经理的在管时间和相关业绩表现，选择更符合自己风险收益偏好的产品。\n谁在守护“十倍基”？\n实际上，一只基金经历的成长、成人以及过程中的“困难时期”，持有人也一样会经历，而能陪伴基金一年者甚多，但十年者甚少。\n长期投资的理念是要做时间的朋友，‘我能想到最浪漫的事就是和你一起慢慢变老’。\n——李先生 持有基金17年\n最长期的基金投资不止10年，最开始是用小孩的压岁钱买的。相信投资的长期力量，会一直坚持。\n——韩女士 持有基金13年\n我有可能是唯一一个从发行到现在只买不卖的人。\n—— “寻找趋势百万持有人”活动留言\n只有经过时间的积累和努力才有收获质变的可能，一起成长，共同前行。\n—— 讨论区基民\n投资人记事曾做过相关研究，从基金定期报告中，找到十倍基的持有者，他们的特点是，敢于在市场恐慌的时候买入，并比多数投资者更有耐心，有人说，也许他“遗忘”了自己的持仓，但这种“遗忘”，也从另一个侧面成为了十倍基的坚定守护者。\n最后，合理的预期是投资和陪伴的前提。投资之路，既要比拼实力，也要比拼耐力，如果是一只优质的基金，不妨多给它一些时间，让价值沉淀。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172238652,"gmtCreate":1626961851376,"gmtModify":1703481445204,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/172238652","repostId":"1138338643","repostType":4,"repost":{"id":"1138338643","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626960724,"share":"https://ttm.financial/m/news/1138338643?lang=en_US&edition=fundamental","pubTime":"2021-07-22 21:32","market":"us","language":"zh","title":"Opening: Faraday Future rose more than 22% on the first day, Didi fell more than 7%","url":"https://stock-news.laohu8.com/highlight/detail?id=1138338643","media":"老虎资讯综合","summary":"7月22日，美股三大指数基本平开，道指跌0.05%，标普500指数涨0.07%，纳指涨0.17%。\n法拉第未来（FFIE）美股上市首日涨超22%，总市值达54亿美元。贾跃亭现身上市敲钟现场。\n滴滴美股","content":"<p>On July 22, the three major U.S. stock indexes basically opened flat, with the Dow falling 0.05%, the S&P 500 rising 0.07%, and the Nasdaq rising 0.17%.<img src=\"https://static.tigerbbs.com/2bb63859800e23852faa83b133a11fb9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Faraday Future's (FFIE) U.S. stock market rose more than 22% on its first day of listing, with a total market value of US $5.4 billion. Jia Yueting appeared at the listing bell ringing scene.</p><p><a href=\"https://laohu8.com/S/DIDI\">Didi</a>U.S. stocks opened down more than 7%. The stock price hit a record low, and the market value has evaporated by more than 15 billion US dollars since its listing.</p><p><a href=\"https://laohu8.com/S/KALU\">Caesar Aluminum</a>It fell 4%, and adjusted earnings per share in the second quarter fell short of expectations.</p><p><a href=\"https://laohu8.com/S/CCC.U\">Churchill Capital</a>IV rose more than 3%, and the company's shareholders will vote on the merger of electric vehicle company Lucid Motors.</p><p><a href=\"https://laohu8.com/S/TXN\">Texas Instruments</a>It fell 4.3%, and the midpoint of the third-quarter revenue guidance range was lower than analyst expectations.</p><p>Medical device companies<a href=\"https://laohu8.com/S/NURO\">NeuroMetrix</a>It rose 82.11%, and the stock rose by more than 300% in the previous two trading days.</p><p><a href=\"https://laohu8.com/S/DQ\">Daqo New Energy</a>It rose 13.38% to $90.00. Xinjiang Daqo Energy (688303. SH), an operating subsidiary of Daqo New Energy, was listed on the Science and Technology Innovation Board today, priced at 21.49 yuan per share. On the first day of listing, it closed up 184.36% to 61.11 yuan, with a market value of 117.6 billion yuan. After listing, Daqo New Energy holds 79.57% of Xinjiang Daqo's shares.</p><p>Blockchain concept stocks strengthened, with SOS rising 14.29% and Bit Digital rising 3.52%.</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>Opening: Faraday Future rose more than 22% on the first day, Didi fell more than 7%</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\">\nOpening: Faraday Future rose more than 22% on the first day, Didi fell more than 7%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-22 21:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On July 22, the three major U.S. stock indexes basically opened flat, with the Dow falling 0.05%, the S&P 500 rising 0.07%, and the Nasdaq rising 0.17%.<img src=\"https://static.tigerbbs.com/2bb63859800e23852faa83b133a11fb9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Faraday Future's (FFIE) U.S. stock market rose more than 22% on its first day of listing, with a total market value of US $5.4 billion. Jia Yueting appeared at the listing bell ringing scene.</p><p><a href=\"https://laohu8.com/S/DIDI\">Didi</a>U.S. stocks opened down more than 7%. The stock price hit a record low, and the market value has evaporated by more than 15 billion US dollars since its listing.</p><p><a href=\"https://laohu8.com/S/KALU\">Caesar Aluminum</a>It fell 4%, and adjusted earnings per share in the second quarter fell short of expectations.</p><p><a href=\"https://laohu8.com/S/CCC.U\">Churchill Capital</a>IV rose more than 3%, and the company's shareholders will vote on the merger of electric vehicle company Lucid Motors.</p><p><a href=\"https://laohu8.com/S/TXN\">Texas Instruments</a>It fell 4.3%, and the midpoint of the third-quarter revenue guidance range was lower than analyst expectations.</p><p>Medical device companies<a href=\"https://laohu8.com/S/NURO\">NeuroMetrix</a>It rose 82.11%, and the stock rose by more than 300% in the previous two trading days.</p><p><a href=\"https://laohu8.com/S/DQ\">Daqo New Energy</a>It rose 13.38% to $90.00. Xinjiang Daqo Energy (688303. SH), an operating subsidiary of Daqo New Energy, was listed on the Science and Technology Innovation Board today, priced at 21.49 yuan per share. On the first day of listing, it closed up 184.36% to 61.11 yuan, with a market value of 117.6 billion yuan. After listing, Daqo New Energy holds 79.57% of Xinjiang Daqo's shares.</p><p>Blockchain concept stocks strengthened, with SOS rising 14.29% and Bit Digital rising 3.52%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{".DJI":"道琼斯","DIDI":"滴滴(已退市)",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138338643","content_text":"7月22日，美股三大指数基本平开，道指跌0.05%，标普500指数涨0.07%，纳指涨0.17%。\n法拉第未来（FFIE）美股上市首日涨超22%，总市值达54亿美元。贾跃亭现身上市敲钟现场。\n滴滴美股开盘跌超7%。股价刷新历史新低，上市以来市值蒸发超150亿美元。\n凯撒铝业跌4%，第二季度调整每股收益不及预期。\nChurchill Capital IV涨超3%，公司股东将就电动汽车公司Lucid Motors的合并事项进行投票。\n德州仪器跌4.3%，第三季度营收指引区间中点低于分析师预期。\n医疗设备公司NeuroMetrix涨82.11%，该股此前2个交易日累计上涨超300%。\n大全新能源涨13.38%，报90.00美元。大全新能源运营子公司新疆大全能源(688303.SH)今日在科创板上市，每股定价为21.49元，上市首日收涨184.36%报61.11元，市值1176亿元。上市后，大全新能源持有新疆大全79.57%的股份。\n区块链概念股走强，SOS涨14.29%，Bit Digital涨3.52%。","news_type":1,"symbols_score_info":{".SPX":0.9,"FFIE":0.9,".IXIC":0.9,".DJI":0.9,"DIDI":0.9}},"isVote":1,"tweetType":1,"viewCount":2233,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171991508,"gmtCreate":1626701332904,"gmtModify":1703763586089,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/171991508","repostId":"2152763544","repostType":4,"repost":{"id":"2152763544","kind":"highlight","pubTimestamp":1626676742,"share":"https://ttm.financial/m/news/2152763544?lang=en_US&edition=fundamental","pubTime":"2021-07-19 14:39","market":"us","language":"zh","title":"What is the \"new information\" in Powell's testimony?","url":"https://stock-news.laohu8.com/highlight/detail?id=2152763544","media":"格隆汇","summary":"一、主题评论：鲍威尔证词里的“新信息”\n7月14日，美联储公布了主席鲍威尔将于7月15日向美国参议院银行、住房和城市事务委员会提交的证词，以及美联储半年度货币政策报告。\n整体而言，鲍威尔的讲话维持鸽派","content":"<p><h3>1.<b>Subject comment: \"New information\" in Powell's testimony</b></h3>On July 14, the Federal Reserve released Chairman Powell's testimony to be submitted to the U.S. Senate Committee on Banking, Housing and Urban Affairs on July 15, as well as the Federal Reserve's semi-annual monetary policy report.</p><p><b>Overall, Powell's speech remained dovish. This is reflected in: \"flaunting\" the positive impact of loose monetary policy on the U.S. economy, believing that there is still a long way to go before the labor market recovers, emphasizing that the higher inflation rate is mainly caused by base effects and supply chain bottlenecks, and not worrying about the financial system. vulnerability, and emphasizing that the U.S. economy has not yet made the \"substantial further progress\" required to implement Taper, and that Taper will be \"notified in advance\", etc.</b></p><p>After Powell's testimony was released, the market also felt the familiar \"dove sound\", and the market panic caused by the soaring U.S. inflation indicators in June eased slightly. The S&P 500 index hit a new intraday high, the 10-year U.S. bond yield fell by more than 5 basis points at the deepest, and the the US Dollar Index fell in the short term. It is worth noting that the Bank of New Zealand has stopped Treasury Bond purchases, and the Bank of Canada has begun to implement Taper.<b>We believe that the Fed is still trying to \"not make a sharp turn\", but in the future, if the U.S. job market recovers as scheduled, inflation indicators remain high, and foreign central banks \"rush\", then the Fed's \"excuses\" will be even more insufficient, and it still needs to Be wary of the risk that the Fed's policy shift will come \"earlier\" or be \"stronger\" than expected.</b></p><p>Specifically, the key information in Powell's testimony includes:</p><p><b>1) The U.S. economy is recovering rapidly, but supply chain bottlenecks have affected some industries.</b>Powell believes that in the first half of 2021, the reopening of the U.S. economy and strong economic growth will be helped by COVID-19 vaccine vaccination on the one hand, and supported by loose monetary and fiscal policies on the other. The most obvious of these is that household spending is growing at a particularly rapid rate, housing demand is very strong, and business investment is growing steadily. But at the same time, supply constraints have restricted activity in some industries, most notably the automotive industry. The global semiconductor shortage has slashed production in the automotive industry so far this year.</p><p><b>2) Labor market conditions continue to improve, but there is still a long way to go.</b>Powell believes that U.S. labor demand appears to be very strong, with job vacancies currently at record highs, strong hiring momentum and many people leaving in search of better jobs. From April to June, U.S. employers added 1.7 million new workers. However, the unemployment rate in the United States was still as high as 5.9% in June, and this figure also underestimated the lack of employment recovery, because the labor force participation rate remained sluggish. But U.S. job growth should be strong in the coming months as the pandemic improves and its impact on employment diminishes. In addition, he also emphasized that the employment of low-income groups and people of color is more affected and needs to be restored.</p><p><b>3) Inflation has risen significantly and is likely to remain high in the coming months before easing.</b>Powell believes that the first is that the base effect temporarily pushes up inflation, and the second is that in the context of strong demand, supply bottlenecks have led to rapid prices for certain goods and services. However, as supply chain bottlenecks ease in the future, similar situations should be reversed to a certain extent. Prices for services severely affected by the pandemic have also risen sharply in recent months, as demand for services is rising sharply as the economy reopens. He emphasized that the Federal Reserve has adjusted its monetary policy framework to seek to stabilize long-term inflation expectations at 2%, and the indicator that measures long-term inflation expectations has recovered from the low point and is currently in a range roughly consistent with the Fed's long-term inflation target.</p><p><b>4) The Fed is not yet worried about asset prices and the fragility of the financial system.</b>Powell said that sustainable employment maximization and price stability depend on a stable financial system, so the Fed will continue to monitor the vulnerabilities of the financial system. However, although the valuations of various assets have generally risen as fundamentals improve and investors' risk appetite increases, the balance sheet of American households is quite strong, the level of corporate leverage has been declining from a high level, and the institutions at the core of the financial system remain resilient.</p><p><b>5) Powell still denies that the economy has made \"substantial further progress\" and maintains a dovish tone.</b>Powell said the combination of \"zero interest rates\" + asset purchases, coupled with \"strong guidance\" on interest rates and balance sheets, will ensure that monetary policy continues to provide strong support to the U.S. economy until the recovery is complete. It reiterated the main points of the June FOMC meeting: for interest rate adjustments, it is necessary to wait until the economy truly achieves maximum employment and long-term inflation targets; For asset purchases, at least the current pace will be maintained until \"substantial further progress\" is made. Powell further revealed that at the June interest rate meeting, the committee discussed the progress made by the U.S. economy since December last year. Although it is still some way from reaching the standard of \"substantial further progress\", the progress is expected to continue. The Fed will continue to discuss these issues in future meetings. The Federal Reserve will provide advance notice before announcing any changes to asset purchases.</p><p><h3><b>Two,</b><b>Overseas Economic Tracking</b></h3>1</p><p><b>U.S. Economy: Inflation indicators hit new highs in June, and consumption of non-durable goods and services gradually picked up momentum</b></p><p>The U.S. CPI continued to hit a new high year-on-year in June, rising 0.9% month-on-month, significantly higher than the average growth rate of the past five years (about 0.2%). Looking at items, most of them are accelerating month-on-month.<b>The most \"exaggerated\" thing is that the transportation item rose by 3.6% month-on-month (the previous value was 2.1%), which is still due to the increase in used car prices.</b>At present, it is difficult to judge the inflection point of used car price growth, and it may still have an unexpected pulling effect on the US CPI in the second half of the year.</p><p><img src=\"https://static.tigerbbs.com/18bc1d3f271ec0d93b01c0be754f4b07\" tg-width=\"1080\" tg-height=\"458\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The year-on-year and month-on-month growth rates of U.S. PPI in June also hit new highs, with all sub-items rising month-on-month, of which the \"trade\" sub-item rose by 2.1% month-on-month. In the past month,<b>The rise in international oil prices not only directly increases the cost pressure of energy products, but also leads to an increase in international freight rates and a sharp increase in the prices of imported goods in the United States.</b></p><p><img src=\"https://static.tigerbbs.com/788dd66c7ab2ea169c154ddbe5b870c8\" tg-width=\"1080\" tg-height=\"458\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>U.S. retail sales rose slightly by 0.55% month-on-month in June, better than expected and previous values.<b>The structural changes of retail sales deserve attention. The sales of \"small items\" are better than those of \"large items\".</b>Sales of department stores, clothing accessories, food and beverages continued to rise, while sales of automobiles, furniture and home improvement, building materials and materials continued to decline. We continue to emphasize that in the second half of the year, U.S. consumption power will shift from durable goods to non-durable goods and services, and service consumption accounts for the bulk of U.S. residents' consumption, so there is still sufficient room for consumption growth.</p><p><img src=\"https://static.tigerbbs.com/4f2db4d79190094ea518b852220b8f58\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>The initial value of the University of Michigan consumer confidence index in the United States dropped significantly in July.</b>The rapid rise in prices and the expectation of a marginal slowdown in the U.S. economy may have suppressed consumer confidence to some extent. However,<b>Employment indicators still send optimistic signals,</b>In the week ending July 3, the number of continuing jobless claims in the United States dropped significantly by 126,000 to 3.241 million, and the latest number of initial jobless claims also continued to decline. With the expiration of additional unemployment benefits in the United States, there is still hope for a rapid recovery of employment in the United States.</p><p><img src=\"https://static.tigerbbs.com/912f8e51be197290db777f52cf9d37ec\" tg-width=\"1080\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>2</p><p><b>Overseas epidemic situation and vaccine tracking: a new wave of global epidemics is coming</b></p><p><b>Since late June, especially July, the world may be at the starting point of a new wave of epidemics.</b>Previously, the epidemic in India rose significantly and posed a certain degree of threat to the global economy. However, the current epidemic situation in India has gradually eased, and the new wave of the epidemic has affected a wider scope. At present, many areas are disturbed by the Delta virus, and the number of new confirmed cases is rising again. In Europe, the epidemic situation in the UK took the lead in rising and began to approach the high point in January this year. However, the UK will be completely unsealed on July 19 (restrictions on wearing masks, 1 meter social distance, working from home, and density of people in public places will be lifted), which is a new trend of global epidemic prevention policies worthy of attention. In the past week, the number of new confirmed cases in France has also shown signs of rising, and the epidemic situation in other EU countries such as Germany and Italy is still stable. The epidemic situation in Japan has just eased, and it has risen significantly in the past week. The Olympic Games is just around the corner, and the risk of the epidemic situation has attracted global attention. The epidemic situation in Southeast Asian countries is \"ebbing and changing\". Recently, Vietnam, Thailand and other countries have deteriorated significantly, and related stock markets have also been significantly impacted. The epidemic in Israel has also unexpectedly counterattacked, and the effectiveness of vaccination against new viruses may be \"discounted\". However, looking further at the British epidemic data, vaccination has greatly reduced the mortality rate. It is not impossible that COVID-19 pandemic will continue to survive like the \"flu\" in the future, but its impact is controllable. But,<b>Concerns about the global epidemic are, to a certain extent, cooling the recent risk appetite of the capital market, and reflation transactions have been questioned, which deserves continued attention.</b></p><p><img src=\"https://static.tigerbbs.com/0dbf848a54d0d9c8c1eccaec1359aa62\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><img src=\"https://static.tigerbbs.com/6cd919d9bf8e9457c68df716ef4280cc\" tg-width=\"1080\" tg-height=\"464\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><img src=\"https://static.tigerbbs.com/cf9bae175032440d3c388e9ca605b33e\" tg-width=\"1080\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Global Asset Performance</p><p>1</p><p><b>Global Stocks-Emerging Markets Rally, Developed Markets Pull Back</b></p><p>Emerging markets, especially Asian emerging market stock markets, have been underperforming developed markets since late June due to the counterattack of the epidemic and the alert of \"austerity panic\". In the past week, it finally rebounded, and the stock indexes of major markets such as South Korea, India, Taiwan Province, Mexico, China (GEM and CSI 300), Indonesia and Brazil all rose. At the same time, most developed market stock markets pulled back, but the U.S. Dow (-0.5%) fell less than the Nasdaq (-1.9%), and the U.S. stock cyclical sector showed stronger resilience.</p><p><b>Vietnam's stock market has been hit hard in the past two weeks.</b>On July 14th, Vietnam's Ho Chi Minh Index fell by nearly 10% compared with July 2nd. Vietnam's stock market has performed well since the beginning of this year, basically maintaining a unilateral upward trend before July. Vietnam's strong export performance is the cornerstone of market confidence. According to Vietnamplus, Vietnam's exports of goods from January to June this year increased by 28.4% year-on-year. However, note that<b>Possible changes in confidence in the Vietnamese market after the marginal slowdown in external demand in the second half of the year.</b>On July 5th, 11th and 16th, the number of newly confirmed cases in a single day in Vietnam exceeded 1,000, 2,000 and 4,000 respectively, but before May this year, the number did not exceed 100. The sudden rise of the epidemic should be the trigger for this stock market adjustment.</p><p><img src=\"https://static.tigerbbs.com/9691c486b0bd2aec0923cc0031fc6e38\" tg-width=\"1080\" tg-height=\"569\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/98124ab0b82d7230c0778dd983cb3221\" tg-width=\"1080\" tg-height=\"460\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">2</p><p><b>Global bond market-10-year U.S. bond real interest rate falls below-1%</b></p><p>In the past week, long-term U.S. bond yields continued to decline, with 7-year and above U.S. bond yields falling 4-6bp throughout the week. The 10-year U.S. bond yield fell 6bp throughout the week to 1.31%, of which the 10-year TIPS (real) interest rate fell 11bp to-1.02%, and implied inflation expectations rose 5bp to 2.33%.<b>On July 15, the 10-year TIPS rate fell below-1%, hitting a new low since February 12. In the past 10 years, U.S. bond yields have dropped to previously unimaginable lows, mainly because the market lacks confidence in the U.S. economic prospects:</b>On the one hand, the scale of the U.S. fiscal plan is discounted, which has lowered the market's medium and long-term inflation expectations for the United States. And although the inflation indicator is still \"off the charts\" in the short term, it is difficult for the market to continue to bet heavily because inflation expectations are already at historically high levels. However, factors such as the slowdown of vaccination and the disturbance of mutated viruses. This has intensified the market's concerns about whether \"herd immunity\" can be achieved in the second half of the year and whether economic activities can be restarted on time, resulting in a significant decline in the real interest rate of U.S. debt. In the early stage, the market has largely incorporated optimistic expectations into asset pricing, creating U.S. stocks and U.S. corporate bonds that continue to hit new highs. The market is undoubtedly experiencing huge changes in expectations recently. In terms of the global bond market, 10-year Treasury Bond/government bonds in most regions continued to follow U.S. bonds. However, Treasury Bond yields rose due to the sharp deterioration of the epidemic in Thailand, Malaysian and other regions.</p><p><img src=\"https://static.tigerbbs.com/926368c7d4bdf8bf2910663929dca4d8\" tg-width=\"1080\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><img src=\"https://static.tigerbbs.com/dc40a8708bcb3030bf1e3a9a8e42a388\" tg-width=\"1080\" tg-height=\"453\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>3</p><p><b>Commodity market-oil prices fell, black series continued to rise,<a href=\"https://laohu8.com/S/000061\">Agricultural products</a>Rebound</b></p><p>In the past week, international oil prices have corrected significantly. WTI crude oil and Brent crude oil futures prices fell by 3.7% and 2.6% respectively throughout the week, closing at US $71.81 and US $73.59/barrel respectively. However, EIA U.S. crude oil inventories continued to decline by 7.9 million barrels in the week ending July 9, and the rate of decline was essentially the same as the previous two weeks. The main reason for the fluctuation of oil prices in the past week is the expected change of supply and demand: on the supply side, the resumption of negotiations between the UAE and OPEC means that the production increase plan is expected to proceed smoothly (Saudi Arabia agreed to raise the UAE's production reduction benchmark in exchange for the UAE's agreement to increase the overall production reduction agreement from 2022). April extended to the end of that year); On the demand side, the recent disturbance in COVID-19 pandemic and the market's concerns about the \"peaking\" of the US economy may make the market more cautious in judging crude oil demand to some extent.<b>In our report \"Will oil prices be the next\" grey rhinoceros \"?\", it is pointed out that supply constraints are the key to oil price trends in the second half of the year. At present, it is a high probability that the increase in shale oil production in the United States will be limited. In the future, we need to pay close attention to whether OPEC + can stick to its previous commitment to increase production. If there is no significant increase in production, international oil prices may fluctuate at a high level in the range of 70-80 US dollars/barrel in the second half of the year.</b></p><p>The prices of domestic black commodities (iron ore, rebar, thermal coal, etc.) have risen for 2-3 consecutive weeks. We reported in March \"Is the\" super cycle \"of commodities coming?\" It suggests the risk of a \"green bubble\", because behind the rise in copper prices, in addition to the real contradiction between supply and demand, there is also speculation and boost from the capital market. After a significant correction in mid-June, LME copper prices have recently remained within a narrow range of US $9,100-9,500/ton. At present, LME copper inventories have risen to a high level in nearly a year, and the shrinking of \"Biden infrastructure\" has also suppressed demand expectations. The tight copper supply and demand situation has shown some signs of easing.<b>In the future, market inflation expectations and risk appetite may also fall back from high levels, and it may be more difficult for copper prices to rise and may experience more fluctuations.</b></p><p><img src=\"https://static.tigerbbs.com/55e6ad7c58aefe649d33c4ac2321641d\" tg-width=\"1080\" tg-height=\"474\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/880f378ea54447226750849c934fe3a0\" tg-width=\"1080\" tg-height=\"458\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">4</p><p><b>Foreign exchange market-the US Dollar Index hits new high since the second quarter</b></p><p>The US Dollar Index rose to 92.79 on July 13, surpassing the previous high of 92.72 on July 7 and setting a new high since April this year.<b>How to understand the relationship between the recent decline in U.S. bond yields and the appreciation of the U.S. dollar? We believe that we need to pay attention to the difference between vertical and horizontal comparisons of the U.S. economy.</b>Recently, the U.S. bond market is trading the \"peak\" of the U.S. economy, which is the main driving force behind the obvious decline of US Treasury yields. However, the recent epidemic situation in many places, including the United Kingdom, has counterattacked, and the economic prospects of non-US regions except the euro zone are still worrying. Therefore, the relative performance of the U.S. economy this year is still \"outstanding\", and the market's expectation of the strengthening of the U.S. dollar is also constantly strengthening. We continue to maintain the judgment that the US dollar is expected to strengthen in stages in the second half of the year (refer to our report \"The Next Step of the US dollar\"). In addition, there are some new changes to support the strength of the US dollar recently: after the European Central Bank adjusts its monetary policy decisions, the European Central Bank may further accelerate the expansion of its balance sheet and delay Taper. The difference in the monetary policy rhythm between the US and European central banks may further release the appreciation space of the US dollar against the euro. It is worth noting that the U.S. dollar has mainly depreciated against developed markets since the outbreak of the COVID-19 pandemic, and its value against emerging markets this year has been basically the same as that in the second half of 2019, which may mean that the room for currency depreciation in emerging markets is relatively limited. In the past week, Bitcoin prices have hit a new low since February this year.</p><p><img src=\"https://static.tigerbbs.com/09b6b3535060790986839dc811272b2a\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><img src=\"https://static.tigerbbs.com/d0d2421b79d6ce17f8f080b339b33ea9\" tg-width=\"1080\" tg-height=\"458\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","source":"gelonghui_highlight","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>What is the \"new information\" in Powell's testimony?</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\">\nWhat is the \"new information\" in Powell's testimony?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">格隆汇</strong><span class=\"h-time small\">2021-07-19 14:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p><h3>1.<b>Subject comment: \"New information\" in Powell's testimony</b></h3>On July 14, the Federal Reserve released Chairman Powell's testimony to be submitted to the U.S. Senate Committee on Banking, Housing and Urban Affairs on July 15, as well as the Federal Reserve's semi-annual monetary policy report.</p><p><b>Overall, Powell's speech remained dovish. This is reflected in: \"flaunting\" the positive impact of loose monetary policy on the U.S. economy, believing that there is still a long way to go before the labor market recovers, emphasizing that the higher inflation rate is mainly caused by base effects and supply chain bottlenecks, and not worrying about the financial system. vulnerability, and emphasizing that the U.S. economy has not yet made the \"substantial further progress\" required to implement Taper, and that Taper will be \"notified in advance\", etc.</b></p><p>After Powell's testimony was released, the market also felt the familiar \"dove sound\", and the market panic caused by the soaring U.S. inflation indicators in June eased slightly. The S&P 500 index hit a new intraday high, the 10-year U.S. bond yield fell by more than 5 basis points at the deepest, and the the US Dollar Index fell in the short term. It is worth noting that the Bank of New Zealand has stopped Treasury Bond purchases, and the Bank of Canada has begun to implement Taper.<b>We believe that the Fed is still trying to \"not make a sharp turn\", but in the future, if the U.S. job market recovers as scheduled, inflation indicators remain high, and foreign central banks \"rush\", then the Fed's \"excuses\" will be even more insufficient, and it still needs to Be wary of the risk that the Fed's policy shift will come \"earlier\" or be \"stronger\" than expected.</b></p><p>Specifically, the key information in Powell's testimony includes:</p><p><b>1) The U.S. economy is recovering rapidly, but supply chain bottlenecks have affected some industries.</b>Powell believes that in the first half of 2021, the reopening of the U.S. economy and strong economic growth will be helped by COVID-19 vaccine vaccination on the one hand, and supported by loose monetary and fiscal policies on the other. The most obvious of these is that household spending is growing at a particularly rapid rate, housing demand is very strong, and business investment is growing steadily. But at the same time, supply constraints have restricted activity in some industries, most notably the automotive industry. The global semiconductor shortage has slashed production in the automotive industry so far this year.</p><p><b>2) Labor market conditions continue to improve, but there is still a long way to go.</b>Powell believes that U.S. labor demand appears to be very strong, with job vacancies currently at record highs, strong hiring momentum and many people leaving in search of better jobs. From April to June, U.S. employers added 1.7 million new workers. However, the unemployment rate in the United States was still as high as 5.9% in June, and this figure also underestimated the lack of employment recovery, because the labor force participation rate remained sluggish. But U.S. job growth should be strong in the coming months as the pandemic improves and its impact on employment diminishes. In addition, he also emphasized that the employment of low-income groups and people of color is more affected and needs to be restored.</p><p><b>3) Inflation has risen significantly and is likely to remain high in the coming months before easing.</b>Powell believes that the first is that the base effect temporarily pushes up inflation, and the second is that in the context of strong demand, supply bottlenecks have led to rapid prices for certain goods and services. However, as supply chain bottlenecks ease in the future, similar situations should be reversed to a certain extent. Prices for services severely affected by the pandemic have also risen sharply in recent months, as demand for services is rising sharply as the economy reopens. He emphasized that the Federal Reserve has adjusted its monetary policy framework to seek to stabilize long-term inflation expectations at 2%, and the indicator that measures long-term inflation expectations has recovered from the low point and is currently in a range roughly consistent with the Fed's long-term inflation target.</p><p><b>4) The Fed is not yet worried about asset prices and the fragility of the financial system.</b>Powell said that sustainable employment maximization and price stability depend on a stable financial system, so the Fed will continue to monitor the vulnerabilities of the financial system. However, although the valuations of various assets have generally risen as fundamentals improve and investors' risk appetite increases, the balance sheet of American households is quite strong, the level of corporate leverage has been declining from a high level, and the institutions at the core of the financial system remain resilient.</p><p><b>5) Powell still denies that the economy has made \"substantial further progress\" and maintains a dovish tone.</b>Powell said the combination of \"zero interest rates\" + asset purchases, coupled with \"strong guidance\" on interest rates and balance sheets, will ensure that monetary policy continues to provide strong support to the U.S. economy until the recovery is complete. It reiterated the main points of the June FOMC meeting: for interest rate adjustments, it is necessary to wait until the economy truly achieves maximum employment and long-term inflation targets; For asset purchases, at least the current pace will be maintained until \"substantial further progress\" is made. Powell further revealed that at the June interest rate meeting, the committee discussed the progress made by the U.S. economy since December last year. Although it is still some way from reaching the standard of \"substantial further progress\", the progress is expected to continue. The Fed will continue to discuss these issues in future meetings. The Federal Reserve will provide advance notice before announcing any changes to asset purchases.</p><p><h3><b>Two,</b><b>Overseas Economic Tracking</b></h3>1</p><p><b>U.S. Economy: Inflation indicators hit new highs in June, and consumption of non-durable goods and services gradually picked up momentum</b></p><p>The U.S. CPI continued to hit a new high year-on-year in June, rising 0.9% month-on-month, significantly higher than the average growth rate of the past five years (about 0.2%). Looking at items, most of them are accelerating month-on-month.<b>The most \"exaggerated\" thing is that the transportation item rose by 3.6% month-on-month (the previous value was 2.1%), which is still due to the increase in used car prices.</b>At present, it is difficult to judge the inflection point of used car price growth, and it may still have an unexpected pulling effect on the US CPI in the second half of the year.</p><p><img src=\"https://static.tigerbbs.com/18bc1d3f271ec0d93b01c0be754f4b07\" tg-width=\"1080\" tg-height=\"458\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>The year-on-year and month-on-month growth rates of U.S. PPI in June also hit new highs, with all sub-items rising month-on-month, of which the \"trade\" sub-item rose by 2.1% month-on-month. In the past month,<b>The rise in international oil prices not only directly increases the cost pressure of energy products, but also leads to an increase in international freight rates and a sharp increase in the prices of imported goods in the United States.</b></p><p><img src=\"https://static.tigerbbs.com/788dd66c7ab2ea169c154ddbe5b870c8\" tg-width=\"1080\" tg-height=\"458\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>U.S. retail sales rose slightly by 0.55% month-on-month in June, better than expected and previous values.<b>The structural changes of retail sales deserve attention. The sales of \"small items\" are better than those of \"large items\".</b>Sales of department stores, clothing accessories, food and beverages continued to rise, while sales of automobiles, furniture and home improvement, building materials and materials continued to decline. We continue to emphasize that in the second half of the year, U.S. consumption power will shift from durable goods to non-durable goods and services, and service consumption accounts for the bulk of U.S. residents' consumption, so there is still sufficient room for consumption growth.</p><p><img src=\"https://static.tigerbbs.com/4f2db4d79190094ea518b852220b8f58\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>The initial value of the University of Michigan consumer confidence index in the United States dropped significantly in July.</b>The rapid rise in prices and the expectation of a marginal slowdown in the U.S. economy may have suppressed consumer confidence to some extent. However,<b>Employment indicators still send optimistic signals,</b>In the week ending July 3, the number of continuing jobless claims in the United States dropped significantly by 126,000 to 3.241 million, and the latest number of initial jobless claims also continued to decline. With the expiration of additional unemployment benefits in the United States, there is still hope for a rapid recovery of employment in the United States.</p><p><img src=\"https://static.tigerbbs.com/912f8e51be197290db777f52cf9d37ec\" tg-width=\"1080\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>2</p><p><b>Overseas epidemic situation and vaccine tracking: a new wave of global epidemics is coming</b></p><p><b>Since late June, especially July, the world may be at the starting point of a new wave of epidemics.</b>Previously, the epidemic in India rose significantly and posed a certain degree of threat to the global economy. However, the current epidemic situation in India has gradually eased, and the new wave of the epidemic has affected a wider scope. At present, many areas are disturbed by the Delta virus, and the number of new confirmed cases is rising again. In Europe, the epidemic situation in the UK took the lead in rising and began to approach the high point in January this year. However, the UK will be completely unsealed on July 19 (restrictions on wearing masks, 1 meter social distance, working from home, and density of people in public places will be lifted), which is a new trend of global epidemic prevention policies worthy of attention. In the past week, the number of new confirmed cases in France has also shown signs of rising, and the epidemic situation in other EU countries such as Germany and Italy is still stable. The epidemic situation in Japan has just eased, and it has risen significantly in the past week. The Olympic Games is just around the corner, and the risk of the epidemic situation has attracted global attention. The epidemic situation in Southeast Asian countries is \"ebbing and changing\". Recently, Vietnam, Thailand and other countries have deteriorated significantly, and related stock markets have also been significantly impacted. The epidemic in Israel has also unexpectedly counterattacked, and the effectiveness of vaccination against new viruses may be \"discounted\". However, looking further at the British epidemic data, vaccination has greatly reduced the mortality rate. It is not impossible that COVID-19 pandemic will continue to survive like the \"flu\" in the future, but its impact is controllable. But,<b>Concerns about the global epidemic are, to a certain extent, cooling the recent risk appetite of the capital market, and reflation transactions have been questioned, which deserves continued attention.</b></p><p><img src=\"https://static.tigerbbs.com/0dbf848a54d0d9c8c1eccaec1359aa62\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><img src=\"https://static.tigerbbs.com/6cd919d9bf8e9457c68df716ef4280cc\" tg-width=\"1080\" tg-height=\"464\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><img src=\"https://static.tigerbbs.com/cf9bae175032440d3c388e9ca605b33e\" tg-width=\"1080\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Global Asset Performance</p><p>1</p><p><b>Global Stocks-Emerging Markets Rally, Developed Markets Pull Back</b></p><p>Emerging markets, especially Asian emerging market stock markets, have been underperforming developed markets since late June due to the counterattack of the epidemic and the alert of \"austerity panic\". In the past week, it finally rebounded, and the stock indexes of major markets such as South Korea, India, Taiwan Province, Mexico, China (GEM and CSI 300), Indonesia and Brazil all rose. At the same time, most developed market stock markets pulled back, but the U.S. Dow (-0.5%) fell less than the Nasdaq (-1.9%), and the U.S. stock cyclical sector showed stronger resilience.</p><p><b>Vietnam's stock market has been hit hard in the past two weeks.</b>On July 14th, Vietnam's Ho Chi Minh Index fell by nearly 10% compared with July 2nd. Vietnam's stock market has performed well since the beginning of this year, basically maintaining a unilateral upward trend before July. Vietnam's strong export performance is the cornerstone of market confidence. According to Vietnamplus, Vietnam's exports of goods from January to June this year increased by 28.4% year-on-year. However, note that<b>Possible changes in confidence in the Vietnamese market after the marginal slowdown in external demand in the second half of the year.</b>On July 5th, 11th and 16th, the number of newly confirmed cases in a single day in Vietnam exceeded 1,000, 2,000 and 4,000 respectively, but before May this year, the number did not exceed 100. The sudden rise of the epidemic should be the trigger for this stock market adjustment.</p><p><img src=\"https://static.tigerbbs.com/9691c486b0bd2aec0923cc0031fc6e38\" tg-width=\"1080\" tg-height=\"569\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/98124ab0b82d7230c0778dd983cb3221\" tg-width=\"1080\" tg-height=\"460\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">2</p><p><b>Global bond market-10-year U.S. bond real interest rate falls below-1%</b></p><p>In the past week, long-term U.S. bond yields continued to decline, with 7-year and above U.S. bond yields falling 4-6bp throughout the week. The 10-year U.S. bond yield fell 6bp throughout the week to 1.31%, of which the 10-year TIPS (real) interest rate fell 11bp to-1.02%, and implied inflation expectations rose 5bp to 2.33%.<b>On July 15, the 10-year TIPS rate fell below-1%, hitting a new low since February 12. In the past 10 years, U.S. bond yields have dropped to previously unimaginable lows, mainly because the market lacks confidence in the U.S. economic prospects:</b>On the one hand, the scale of the U.S. fiscal plan is discounted, which has lowered the market's medium and long-term inflation expectations for the United States. And although the inflation indicator is still \"off the charts\" in the short term, it is difficult for the market to continue to bet heavily because inflation expectations are already at historically high levels. However, factors such as the slowdown of vaccination and the disturbance of mutated viruses. This has intensified the market's concerns about whether \"herd immunity\" can be achieved in the second half of the year and whether economic activities can be restarted on time, resulting in a significant decline in the real interest rate of U.S. debt. In the early stage, the market has largely incorporated optimistic expectations into asset pricing, creating U.S. stocks and U.S. corporate bonds that continue to hit new highs. The market is undoubtedly experiencing huge changes in expectations recently. In terms of the global bond market, 10-year Treasury Bond/government bonds in most regions continued to follow U.S. bonds. However, Treasury Bond yields rose due to the sharp deterioration of the epidemic in Thailand, Malaysian and other regions.</p><p><img src=\"https://static.tigerbbs.com/926368c7d4bdf8bf2910663929dca4d8\" tg-width=\"1080\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><img src=\"https://static.tigerbbs.com/dc40a8708bcb3030bf1e3a9a8e42a388\" tg-width=\"1080\" tg-height=\"453\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>3</p><p><b>Commodity market-oil prices fell, black series continued to rise,<a href=\"https://laohu8.com/S/000061\">Agricultural products</a>Rebound</b></p><p>In the past week, international oil prices have corrected significantly. WTI crude oil and Brent crude oil futures prices fell by 3.7% and 2.6% respectively throughout the week, closing at US $71.81 and US $73.59/barrel respectively. However, EIA U.S. crude oil inventories continued to decline by 7.9 million barrels in the week ending July 9, and the rate of decline was essentially the same as the previous two weeks. The main reason for the fluctuation of oil prices in the past week is the expected change of supply and demand: on the supply side, the resumption of negotiations between the UAE and OPEC means that the production increase plan is expected to proceed smoothly (Saudi Arabia agreed to raise the UAE's production reduction benchmark in exchange for the UAE's agreement to increase the overall production reduction agreement from 2022). April extended to the end of that year); On the demand side, the recent disturbance in COVID-19 pandemic and the market's concerns about the \"peaking\" of the US economy may make the market more cautious in judging crude oil demand to some extent.<b>In our report \"Will oil prices be the next\" grey rhinoceros \"?\", it is pointed out that supply constraints are the key to oil price trends in the second half of the year. At present, it is a high probability that the increase in shale oil production in the United States will be limited. In the future, we need to pay close attention to whether OPEC + can stick to its previous commitment to increase production. If there is no significant increase in production, international oil prices may fluctuate at a high level in the range of 70-80 US dollars/barrel in the second half of the year.</b></p><p>The prices of domestic black commodities (iron ore, rebar, thermal coal, etc.) have risen for 2-3 consecutive weeks. We reported in March \"Is the\" super cycle \"of commodities coming?\" It suggests the risk of a \"green bubble\", because behind the rise in copper prices, in addition to the real contradiction between supply and demand, there is also speculation and boost from the capital market. After a significant correction in mid-June, LME copper prices have recently remained within a narrow range of US $9,100-9,500/ton. At present, LME copper inventories have risen to a high level in nearly a year, and the shrinking of \"Biden infrastructure\" has also suppressed demand expectations. The tight copper supply and demand situation has shown some signs of easing.<b>In the future, market inflation expectations and risk appetite may also fall back from high levels, and it may be more difficult for copper prices to rise and may experience more fluctuations.</b></p><p><img src=\"https://static.tigerbbs.com/55e6ad7c58aefe649d33c4ac2321641d\" tg-width=\"1080\" tg-height=\"474\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/880f378ea54447226750849c934fe3a0\" tg-width=\"1080\" tg-height=\"458\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">4</p><p><b>Foreign exchange market-the US Dollar Index hits new high since the second quarter</b></p><p>The US Dollar Index rose to 92.79 on July 13, surpassing the previous high of 92.72 on July 7 and setting a new high since April this year.<b>How to understand the relationship between the recent decline in U.S. bond yields and the appreciation of the U.S. dollar? We believe that we need to pay attention to the difference between vertical and horizontal comparisons of the U.S. economy.</b>Recently, the U.S. bond market is trading the \"peak\" of the U.S. economy, which is the main driving force behind the obvious decline of US Treasury yields. However, the recent epidemic situation in many places, including the United Kingdom, has counterattacked, and the economic prospects of non-US regions except the euro zone are still worrying. Therefore, the relative performance of the U.S. economy this year is still \"outstanding\", and the market's expectation of the strengthening of the U.S. dollar is also constantly strengthening. We continue to maintain the judgment that the US dollar is expected to strengthen in stages in the second half of the year (refer to our report \"The Next Step of the US dollar\"). In addition, there are some new changes to support the strength of the US dollar recently: after the European Central Bank adjusts its monetary policy decisions, the European Central Bank may further accelerate the expansion of its balance sheet and delay Taper. The difference in the monetary policy rhythm between the US and European central banks may further release the appreciation space of the US dollar against the euro. It is worth noting that the U.S. dollar has mainly depreciated against developed markets since the outbreak of the COVID-19 pandemic, and its value against emerging markets this year has been basically the same as that in the second half of 2019, which may mean that the room for currency depreciation in emerging markets is relatively limited. In the past week, Bitcoin prices have hit a new low since February this year.</p><p><img src=\"https://static.tigerbbs.com/09b6b3535060790986839dc811272b2a\" tg-width=\"1080\" tg-height=\"461\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><img src=\"https://static.tigerbbs.com/d0d2421b79d6ce17f8f080b339b33ea9\" tg-width=\"1080\" tg-height=\"458\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.gelonghui.com/p/476315\">格隆汇</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e4f265653009ef8be3e9588861c69d25","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SH":"做空标普500-Proshares","OEX":"标普100","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares",".DJI":"道琼斯","DJX":"1/100道琼斯","SPXU":"三倍做空标普500ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","SPY":"标普500ETF","DDM":"2倍做多道指ETF-ProShares","OEF":"标普100指数ETF-iShares","TQQQ":"纳指三倍做多ETF","SDOW":"三倍做空道指30ETF-ProShares",".IXIC":"NASDAQ Composite","DOG":"道指ETF-ProShares做空","QID":"两倍做空纳斯达克指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","SQQQ":"纳指三倍做空ETF","PSQ":"做空纳斯达克100指数ETF-ProShares",".SPX":"S&P 500 Index","QQQ":"纳指100ETF","UDOW":"三倍做多道指30ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","IVV":"标普500ETF-iShares"},"source_url":"http://www.gelonghui.com/p/476315","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2152763544","content_text":"一、主题评论：鲍威尔证词里的“新信息”\n7月14日，美联储公布了主席鲍威尔将于7月15日向美国参议院银行、住房和城市事务委员会提交的证词，以及美联储半年度货币政策报告。\n整体而言，鲍威尔的讲话维持鸽派。这体现在：“标榜”宽松的货币政策对美国经济的积极影响，认为劳动力市场恢复还有很长的路要走，强调通胀率走高主要是基数效应与供应链瓶颈所致，不担心金融体系的脆弱性，以及强调美国经济尚未取得实施Taper所需的“实质性进一步进展”、Taper前会“提前通知”等。\n鲍威尔的证词公布后，市场亦感受到了熟悉的“鸽声”，6月美国通胀指标蹿升带来的市场恐慌稍有缓解。标普500指数盘中创新高，10年期美债收益率最深跌超5个基点，美元指数短线走低。值得注意的是，目前新西兰央行已经停止国债购买，加拿大央行已经开始实施Taper。我们认为，美联储仍在试图“不急转弯”，但未来一段时间如果美国就业市场如期恢复，通胀指标居高不下，加上外国央行“抢跑”，那么美联储的“借口”将更加不足，仍需警惕美联储政策转向比预期来得“更早”，或力度“更大”的风险。\n具体来看，鲍威尔证词中的重点信息包括：\n1）美国经济快速恢复，但供应链瓶颈对部分行业造成影响。鲍威尔认为，在2021年上半年，美国经济的重新开放和强劲的经济增长，一方面受新冠疫苗接种的帮助，另一方面也离不开宽松的货币和财政政策的支持。其中最明显的是，家庭支出正以特别快的速度增长，住房需求非常强劲，商业投资也在稳步增长。但与此同时，供应限制已经限制一些行业的活动，其中最明显的是汽车行业。今年迄今为止，全球半导体短缺已大幅削减了汽车行业的生产。\n2）劳动力市场状况持续改善，但仍有很长的路要走。鲍威尔认为，美国劳动力需求似乎非常强劲，目前职位空缺处于历史新高，招聘势头强劲，许多人离职而寻求更好的工作。4-6月美国雇主新增170万劳工。但是，6月美国失业率仍然高达5.9%，且这一数字还低估了就业恢复的不足，因劳动参与率仍然低迷。但随着疫情改善及其对就业的影响减少，未来几个月美国就业增长应该会强劲。此外，他还强调了低收入群体和有色人种的就业受影响更大，有待恢复。\n3）通胀率已经明显上升，且未来几月可能仍然居高不下，之后才会有所缓和。鲍威尔认为，第一是基数效应暂时推高通胀，第二是在需求旺盛的背景下，供给瓶颈导致某些商品和服务价格迅速上涨。但未来随着供应链瓶颈缓解，类似情况应会一定程度上得到逆转。近几个月，受疫情严重影响的服务价格也大幅上涨，因随着经济重新开放，服务业需求正在大幅上升。他强调美联储已经调整了货币政策框架，寻求将长期通胀预期稳定在2%，而衡量长期通胀预期的指标已从低点回升，目前处于与美联储长期通胀目标大致一致的区间。\n4）美联储尚不担心资产价格与金融体系脆弱性。鲍威尔表示，可持续地实现就业最大化和价格稳定取决于一个稳定的金融体系，因此美联储将继续监测金融体系的脆弱性。不过，尽管随着基本面改善和投资者风险偏好增强，各类资产估值普遍上升，但美国家庭资产负债表相当强劲，企业杠杆水平一直从高水平下降，处于金融体系核心的机构仍保持弹性。\n5）鲍威尔仍然否认经济已经取得“实质性进一步进展”，维持偏鸽论调。鲍威尔表示，“零利率”+资产购买的组合，加上对利率和资产负债表的“有力指导”，将确保货币政策继续为美国经济提供强有力的支持，直到复苏完成。其重申了6月FOMC会议的主要观点：对于利率调整而言，需要等到经济真正实现了最大就业和长期通胀目标；而对于资产购买，将至少维持现在的速度，直到取得“实质性进一步进展”（substantial further progress）。鲍威尔进一步透露，在6月议息会议上，委员会讨论了去年12月以来美国经济取得的进展，虽然距离达到“实质性进一步进展”的标准还有一段距离，但预计进展将继续下去。而美联储将在今后的会议中继续讨论这些问题。美联储将在宣布任何更改资产购买决定之前给出提前通知（provide advance notice）。\n二、海外经济跟踪\n1\n美国经济：6月通胀指标再创新高，非耐用品和服务消费逐渐起势\n美国6月CPI同比继续创新高，环比大涨0.9%，明显高于过去5年平均增速（0.2%左右）。分项看，大部分环比在加速，最“夸张”的是交通运输项环比大涨3.6%（前值2.1%），这仍是由于二手车价格的上涨。目前，比较难以判断二手车价格增速的拐点，下半年其对美国CPI仍可能带来超预期的拉动作用。\n\n美国6月PPI同比与环比增速也在创新高，所有分项环比均上涨，其中“贸易”分项环比大涨2.1%。近一个月，国际油价走高，不仅直接加大了能源品的成本压力，亦使国际运价上升以及美国进口商品价格大幅上涨。\n\n美国6月零售销售环比小幅上涨0.55%，好于预期和前值。零售销售的结构变化值得关注，“小件”销售好于“大件”，百货商店、服装配饰、食品饮料等销售连续上涨，而汽车、家具家装、建材物料等销售连续下滑。我们继续强调，下半年美国消费力量将由耐用品向非耐用品及服务转移，而服务消费是美国居民消费的大头，因此消费增长空间仍足。\n\n美国7月密歇根大学消费者信心指数初值明显滑落。物价快速攀升以及对于美国经济边际放缓的预期，可能均一定程度上抑制了消费信心。不过，就业指标仍传递了乐观信号，截至7月3日当周，美国持续申请失业金人数显著下降12.6万人，至324.1万人，最新的初请失业金人数也继续下降。随着美国额外失业补贴的陆续到期，美国就业快速恢复仍是有希望的。\n\n2\n海外疫情与疫苗跟踪：全球新一波疫情来袭\n自6月下旬尤其7月以来，全球或正处于新一波疫情来临的起点。此前是印度疫情显著抬头并对全球经济造成了一定程度的威胁。但目前印度疫情已经逐渐缓和，而新一波疫情所波及的范围更大，目前很多地区受Delta病毒扰动，新增确诊重新上升。欧洲方面，英国疫情率先抬头，并开始逼近今年1月的高点，但英国将于7月19日全面解封（佩戴口罩、1米社交距离、居家办公、公共场所人员密度等限制将解除），这是一个值得关注的全球防疫政策的新动向。近一周法国新增确诊也出现了抬头迹象，德国、意大利等其他欧盟国家疫情尚稳定。日本疫情刚刚缓和不久，近一周又明显上升，奥运会举办在即，疫情风险受到全球关注。东南亚国家疫情“此消彼长”，近期是越南、泰国等国家显著恶化，相关股市亦受到明显冲击。以色列疫情也意外反扑，疫苗接种对于新病毒的效用可能“打折”。不过，进一步看英国疫情数据，疫苗接种在很大程度上降低了死亡率，未来新冠疫情会否像“流感”一样虽持续生存但影响可控，不是没有可能。但是，对全球疫情的担忧，一定程度上正在使近期资本市场风险偏好降温，再通胀交易受到质疑，值得继续关注。\n\n\n三、全球资产表现\n1\n全球股市——新兴市场反弹、发达市场回调\n新兴市场尤其亚洲新兴市场股市，因疫情反扑和“紧缩恐慌”的戒备之心，自6月下旬开始一直跑输发达市场。而近一周终于等到反弹，韩国、印度、中国台湾、墨西哥、中国（创业板和沪深300）、印尼、巴西等主要市场股指皆有上涨。与此同时，大部分发达市场股市回调，但美股道指（-0.5%）跌幅小于纳指（-1.9%），美股周期板块表现出更强韧性。\n越南股市近两周遭遇重创，7月14日越南胡志明指数较7月2日下跌了近10%。今年以来越南股市表现亮眼，7月以前基本维持单边上涨趋势，越南强劲的出口表现是市场信心的基石。据Vietnamplus报道，今年1-6月越南货物出口额同比增长28.4%。但需注意下半年外需边际放缓后越南市场可能出现的信心变化。7月5日、11日和16日越南单日新增确诊数分别破1000、2000和4000例，而今年5月以前该数字均未超过100。疫情陡然升温应是这次股市调整的导火索。\n2\n全球债市——10年美债实际利率跌破-1%\n近一周，长端美债收益率继续下降，7年期及以上美债收益率整周跌4-6bp。10年美债收益率整周跌6bp，至1.31%，其中10年TIPS（实际）利率跌11bp，至-1.02%，隐含通胀预期升5bp，至2.33%。7月15日，10年TIPS利率跌破-1%，创2月12日以来新低。近期10年美债收益率降至此前难以想象的低位，主因是市场对于美国经济前景信心不足：一方面，美国财政计划规模打折，拉低了市场对美国的中长期通胀预期。且通胀指标虽然仍然短期“爆表”，但由于通胀预期已经处于历史高位，市场很难继续大幅押注。而疫苗接种速度放缓、变异病毒扰动等因素。加剧了市场对于下半年“群体免疫”能否实现，经济活动能否按时重启的担忧，致使美债实际利率明显下滑。前期市场已经很大程度上将乐观预期纳入资产定价，造就了不断创新高的美股和美国公司债，近期市场无疑正在经历预期上的巨大变化。全球债市方面，大部分地区10y国债/公债继续随美债走牛，但泰国、马来西亚等地区因疫情急剧恶化、国债收益率上升。\n\n\n3\n商品市场——油价回落，黑色系连涨，农产品反弹\n近一周，国际油价明显回调，WTI原油和布伦特原油期货价整周分别跌3.7%和2.6%，分别收于71.81和73.59美元/桶。然而，截至7月9日当周，EIA美国原油库存继续下降790万桶，下降速度与前两周基本持平。近一周油价波动的主因是供给和需求预期变化：供给方面，阿联酋与OPEC恢复谈判意味着增产计划有望顺利进行（沙特同意将阿联酋的减产基准调高，以换取阿联酋同意将整体减产协议从2022年4月延长至当年年底）；需求方面，近期新冠疫情扰动以及市场对于美国经济“见顶”的担忧，都可能一定程度上使市场对原油需求的判断更加谨慎。我们在报告《油价会不会是下一个“灰犀牛”？》中指出，供给约束是下半年油价走势之关键。目前，美国页岩油增产受限是大概率，未来需密切关注OPEC+能否坚守前期增产承诺。假如未出现大幅增产，则下半年国际油价可能在70-80美元/桶区间高位震荡。\n国内黑色系商品（铁矿石、螺纹钢、动力煤等）价格连续2-3周上涨。我们在3月报告《大宗商品的“超级周期”来了吗？》提示了“绿色泡沫”的风险，因铜价涨价背后，除了真实供需矛盾外，还有来自资本市场的炒作与助推。LME铜价自6月中旬显著回调后，近期保持在9100-9500美元/吨内窄幅震荡。目前，LME铜库存升至近一年以来的高位，“拜登基建”缩水亦对需求预期形成打压，铜供需紧张的局面出现一些缓解迹象。未来一段时间，市场通胀预期与风险偏好亦可能于高位回落，铜价上行或更加困难，可能经历更多波动。\n4\n外汇市场——美元指数创2季度以来新高\n7月13日美元指数升至92.79，超过7月7日92.72的前期高点，创下今年4月以来的新高。如何理解近期美债收益率下降与美元升值的关系？我们认为，需要注意美国经济纵向和横向比较的区别。近期，美债市场正在交易美国经济“见顶”，这是美债利率明显回落的主要驱动力量。然而，近期包括英国在内的多地疫情反扑，除欧元区外的非美地区经济前景仍然堪忧。因此，美国经济在今年的相对表现仍然是“一枝独秀”的，市场对于美元阶段走强的预期也在不断强化。我们继续维持下半年美元有望阶段性走强的判断（参考我们报告《美元下一步》）。此外，最近还有一些新的变化支撑美元走强：欧洲央行调整货币政策决策后，欧洲央行可能进一步加快扩表，并延缓Taper，美欧央行货币政策节奏的差异，可能令美元兑欧元的升值空间进一步释放。值得注意的是，美元自新冠疫情爆发以来主要是对发达市场贬值，而今年以来对新兴市场的价值基本持平于2019年下半年水平，这或意味着新兴市场货币贬值的空间是相对有限的。近一周，比特币价格触碰今年2月以来新低。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"ESmain":0.9,"SDS":0.9,"DOG":0.9,".IXIC":0.9,"MNQmain":0.9,"SPXU":0.9,"SQQQ":0.9,"UPRO":0.9,"SH":0.9,"IVV":0.9,"SPY":0.9,"OEX":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9,"OEF":0.9,"NQmain":0.9,"DXD":0.9,"TQQQ":0.9,"SSO":0.9,".DJI":0.9,"QQQ":0.9,"QID":0.9,"DJX":0.9,"SDOW":0.9,"UDOW":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171991923,"gmtCreate":1626701263962,"gmtModify":1703763585427,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/171991923","repostId":"2152658015","repostType":4,"repost":{"id":"2152658015","kind":"highlight","pubTimestamp":1626701023,"share":"https://ttm.financial/m/news/2152658015?lang=en_US&edition=fundamental","pubTime":"2021-07-19 21:23","market":"us","language":"zh","title":"Pre-orders for the mass production version of FF91 open, Jia Yueting's dream of building a car come true?","url":"https://stock-news.laohu8.com/highlight/detail?id=2152658015","media":"智驾网","summary":"这一次，你准备好为梦想而窒息了吗？\n\n近日，根据法拉第未来官网显示，其首款量产车型FF91已开启预订，用户支付5万元的预订金即可优先预订未来主义者版（量产版）FF 91，并参加“未来主义者体验官”活动","content":"<p><img src=\"https://static.tigerbbs.com/b2b574e8b0f2cc6c286e64e536933dfd\" tg-width=\"1080\" tg-height=\"573\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Are you ready to choke on dreams this time around?</b>Recently, according to Faraday Future's official website, its first mass-produced model FF91 has been pre-ordered. Users can pay a reservation fee of 50,000 yuan to pre-order the Futurist Edition (mass-produced version) FF 91 first and participate in the \"Futurist Experience Officer\" activity. This deposit supports a full refund prior to signing the contract.</p><p>It is reported that after submitting the reservation application for the mass production version of FF 91, users can obtain four services provided by Faraday Future: global exclusive FFID, latest product/event information, right to participate in online/offline sales activities and personalized customization.</p><p>Previously, its official<a href=\"https://laohu8.com/S/WB\">Weibo</a>It was revealed that the production version of FF 91 will be officially launched in the first half of 2022. With the opening of reservations, can FF 91, which has been delayed for many years, really be launched as scheduled this time?</p><p><h2><b>The belated FF 91</b></h2>According to Business Wire, Faraday Future will host an investor day in Los Angeles on September 21, 2021. At the same time, Faraday Future will also announce the detailed information of FF91 on the same day, as well as open test drives.</p><p>According to Faraday Future's official website, FF 91 is its flagship model with a very futuristic design. Although the official has not systematically published its detailed information at present, we can know a little about it through public information.</p><p>On April 13, Faraday Future announced on Weibo that the FF 91 will be equipped with NVIDIA DRIVE Orin system-on-chip (SoC), and plans to have highway autonomous driving functions and parking summoning functions when it is launched.</p><p>It is reported that NVIDIA DRIVE Orin can run 254 trillion times per second.</p><p>In terms of lidar, the FF 91 is equipped with Velodyne's first solid-state lidar, Velarray H800. Velarray H800 is an automotive-grade lidar that can be installed behind the vehicle windshield.</p><p>In addition, Velodyne also announced that it is the exclusive lidar supplier for Faraday Future FF 91.</p><p><img src=\"https://static.tigerbbs.com/0de02c759a136ccff39b28435fa70f98\" tg-width=\"846\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In terms of batteries, Faraday Future stated that the energy density of its lithium-ion battery cells is almost twice that of mass-produced electric vehicle batteries, and the driving range can exceed 482 kilometers on a single charge.</p><p>In terms of power, FF 91 has a built-in modular variable electric drive chassis architecture, which can include batteries, powertrain systems, and its patented component \"ladder inverter\". Its power can reach 1050 horsepower and accelerate from 0-60 mph in 2.39 seconds.</p><p>In terms of interior, the FF 91 is equipped with zero-gravity seats, and rear passengers can have 48.9 inches of legroom. The cockpit features a 27-inch display and a patented connectivity module that supports three different network operators simultaneously.</p><p>Currently, the FF 91 is being manufactured at an approximately 1.02 million square meter facility in Hanford, California. According to a video released by Faraday Future on Weibo, most of the production process of FF 91 requires manual assembly.</p><p>Faraday Future has also previously disclosed plans for more mass production models. It is understood that FF 81 and FF 71 are expected to start mass production in 2023 and 2024 respectively.</p><p><h2><b>The countdown to listing is on?</b></h2>In addition to the latest developments of FF 91, in the recently announced news, Faraday Future's listing process has also been further made public.</p><p>It is reported that PSAC (Property Solutions Acquisitions Corp.), the company involved in the Faraday Future merger transaction, will hold an online shareholders' meeting on July 20. The purpose of the meeting is to approve the business merger between PSAC and Faraday Future.</p><p>Upon completion of the transaction, the shares of the companies completing the merger, as well as the warrants, will trade on the Nasdaq under the ticker symbols \"FFIE\" and \"FFIEW,\" respectively.</p><p><img src=\"https://static.tigerbbs.com/de798a525e337c3318cb2d6d9cdecb0d\" tg-width=\"1021\" tg-height=\"752\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>It is speculated that the transaction will bring Faraday gross proceeds of nearly $1 billion, including about $230 million in cash held by PSAC in trust (without redemption), and $775 million in common stock PIPE. The post-transaction equity value of the combined company is approximately $3.4 billion.</p><p>In fact, Faraday Future planned to go public through IPO, but due to the epidemic, it was forced to choose a less difficult backdoor listing.</p><p>Faraday Future CEO Carsten Breitfeld once told the media Robb Report that before the 2020 epidemic, Faraday Future had discussed with many private equity companies and planned to list it through IPO. In the wake of the pandemic, private equity firms pulled out of uncertainty about the future.</p><p>Fortunately, the way companies go public through SPACs began to catch on in the industry after 2020. Faraday Future has successively reached cooperation with RMG (Riverside Management Group) and PSAC for the purpose of long-term cooperation, and received more than US $1 billion in cash.</p><p>According to a report by the media MARKET REALIST, Faraday Future has spent approximately US $2 billion without any revenue in the past seven years of company operations. At the same time, in order to obtain more income, Faraday Future took on more debt and sold a small amount of equity in the company.</p><p>MARKET REALIST notes that Faraday Future's bank balance was only $1 million at the end of 2020.</p><p>However, according to data, between 2015 and October 2020, Faraday Future received at least US $4.5 billion through financing, mergers and acquisitions, etc.</p><p>Of course, one of the biggest achievements of this merger may be the successful launch of the production version of FF 91.</p><p>Carsten Breitfeld said: \"This business combination will allow us to launch an all-new species, the FF 91, an extreme<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Technology of<a href=\"https://laohu8.com/S/DLX\">Luxurious</a>Electric vehicles, designed to fulfill the original intention of the founders, inviting users and shareholders to participate in shaping an innovative future mobility ecosystem. \"</p><p>Having said that, the production version of FF 91 has already opened for pre-orders. Are you willing to suffocate for your dreams?</p>","source":"lsy1626700557210","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>Pre-orders for the mass production version of FF91 open, Jia Yueting's dream of building a car come true?</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\">\nPre-orders for the mass production version of FF91 open, Jia Yueting's dream of building a car come true?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智驾网</strong><span class=\"h-time small\">2021-07-19 21:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/b2b574e8b0f2cc6c286e64e536933dfd\" tg-width=\"1080\" tg-height=\"573\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>Are you ready to choke on dreams this time around?</b>Recently, according to Faraday Future's official website, its first mass-produced model FF91 has been pre-ordered. Users can pay a reservation fee of 50,000 yuan to pre-order the Futurist Edition (mass-produced version) FF 91 first and participate in the \"Futurist Experience Officer\" activity. This deposit supports a full refund prior to signing the contract.</p><p>It is reported that after submitting the reservation application for the mass production version of FF 91, users can obtain four services provided by Faraday Future: global exclusive FFID, latest product/event information, right to participate in online/offline sales activities and personalized customization.</p><p>Previously, its official<a href=\"https://laohu8.com/S/WB\">Weibo</a>It was revealed that the production version of FF 91 will be officially launched in the first half of 2022. With the opening of reservations, can FF 91, which has been delayed for many years, really be launched as scheduled this time?</p><p><h2><b>The belated FF 91</b></h2>According to Business Wire, Faraday Future will host an investor day in Los Angeles on September 21, 2021. At the same time, Faraday Future will also announce the detailed information of FF91 on the same day, as well as open test drives.</p><p>According to Faraday Future's official website, FF 91 is its flagship model with a very futuristic design. Although the official has not systematically published its detailed information at present, we can know a little about it through public information.</p><p>On April 13, Faraday Future announced on Weibo that the FF 91 will be equipped with NVIDIA DRIVE Orin system-on-chip (SoC), and plans to have highway autonomous driving functions and parking summoning functions when it is launched.</p><p>It is reported that NVIDIA DRIVE Orin can run 254 trillion times per second.</p><p>In terms of lidar, the FF 91 is equipped with Velodyne's first solid-state lidar, Velarray H800. Velarray H800 is an automotive-grade lidar that can be installed behind the vehicle windshield.</p><p>In addition, Velodyne also announced that it is the exclusive lidar supplier for Faraday Future FF 91.</p><p><img src=\"https://static.tigerbbs.com/0de02c759a136ccff39b28435fa70f98\" tg-width=\"846\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>In terms of batteries, Faraday Future stated that the energy density of its lithium-ion battery cells is almost twice that of mass-produced electric vehicle batteries, and the driving range can exceed 482 kilometers on a single charge.</p><p>In terms of power, FF 91 has a built-in modular variable electric drive chassis architecture, which can include batteries, powertrain systems, and its patented component \"ladder inverter\". Its power can reach 1050 horsepower and accelerate from 0-60 mph in 2.39 seconds.</p><p>In terms of interior, the FF 91 is equipped with zero-gravity seats, and rear passengers can have 48.9 inches of legroom. The cockpit features a 27-inch display and a patented connectivity module that supports three different network operators simultaneously.</p><p>Currently, the FF 91 is being manufactured at an approximately 1.02 million square meter facility in Hanford, California. According to a video released by Faraday Future on Weibo, most of the production process of FF 91 requires manual assembly.</p><p>Faraday Future has also previously disclosed plans for more mass production models. It is understood that FF 81 and FF 71 are expected to start mass production in 2023 and 2024 respectively.</p><p><h2><b>The countdown to listing is on?</b></h2>In addition to the latest developments of FF 91, in the recently announced news, Faraday Future's listing process has also been further made public.</p><p>It is reported that PSAC (Property Solutions Acquisitions Corp.), the company involved in the Faraday Future merger transaction, will hold an online shareholders' meeting on July 20. The purpose of the meeting is to approve the business merger between PSAC and Faraday Future.</p><p>Upon completion of the transaction, the shares of the companies completing the merger, as well as the warrants, will trade on the Nasdaq under the ticker symbols \"FFIE\" and \"FFIEW,\" respectively.</p><p><img src=\"https://static.tigerbbs.com/de798a525e337c3318cb2d6d9cdecb0d\" tg-width=\"1021\" tg-height=\"752\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>It is speculated that the transaction will bring Faraday gross proceeds of nearly $1 billion, including about $230 million in cash held by PSAC in trust (without redemption), and $775 million in common stock PIPE. The post-transaction equity value of the combined company is approximately $3.4 billion.</p><p>In fact, Faraday Future planned to go public through IPO, but due to the epidemic, it was forced to choose a less difficult backdoor listing.</p><p>Faraday Future CEO Carsten Breitfeld once told the media Robb Report that before the 2020 epidemic, Faraday Future had discussed with many private equity companies and planned to list it through IPO. In the wake of the pandemic, private equity firms pulled out of uncertainty about the future.</p><p>Fortunately, the way companies go public through SPACs began to catch on in the industry after 2020. Faraday Future has successively reached cooperation with RMG (Riverside Management Group) and PSAC for the purpose of long-term cooperation, and received more than US $1 billion in cash.</p><p>According to a report by the media MARKET REALIST, Faraday Future has spent approximately US $2 billion without any revenue in the past seven years of company operations. At the same time, in order to obtain more income, Faraday Future took on more debt and sold a small amount of equity in the company.</p><p>MARKET REALIST notes that Faraday Future's bank balance was only $1 million at the end of 2020.</p><p>However, according to data, between 2015 and October 2020, Faraday Future received at least US $4.5 billion through financing, mergers and acquisitions, etc.</p><p>Of course, one of the biggest achievements of this merger may be the successful launch of the production version of FF 91.</p><p>Carsten Breitfeld said: \"This business combination will allow us to launch an all-new species, the FF 91, an extreme<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Technology of<a href=\"https://laohu8.com/S/DLX\">Luxurious</a>Electric vehicles, designed to fulfill the original intention of the founders, inviting users and shareholders to participate in shaping an innovative future mobility ecosystem. \"</p><p>Having said that, the production version of FF 91 has already opened for pre-orders. Are you willing to suffocate for your dreams?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1317609755347713\">智驾网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0de02c759a136ccff39b28435fa70f98","relate_stocks":{},"source_url":"https://36kr.com/p/1317609755347713","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2152658015","content_text":"这一次，你准备好为梦想而窒息了吗？\n\n近日，根据法拉第未来官网显示，其首款量产车型FF91已开启预订，用户支付5万元的预订金即可优先预订未来主义者版（量产版）FF 91，并参加“未来主义者体验官”活动。该订金支持签署合同前的全额退款。\n据悉，提交FF 91量产版预约申请后，用户可获得法拉第未来提供的全球专属FFID、最新产品/活动信息、 线上/线下销售活动参与权以及个性化定制四项服务。\n此前，其官方微博透露，FF 91量产版将在2022年上半年正式上市。随着预订开启，跳票多年的 FF 91此次真的能如约上市吗？\n姗姗来迟的FF 91\n据美国商业资讯报道，法拉第未来将在2021年9月21日于洛杉矶举办投资者日。同时，法拉第未来也将在当日公布FF91的详细信息，以及开放试驾。\n根据法拉第未来官网介绍，FF 91是其极具未来感设计的旗舰车型。尽管目前官方并未系统性公布其详细资料，但通过公开信息，我们也可略知一二。\n4月13日，法拉第未来在微博宣布，FF 91将搭载NVIDIA DRIVE Orin系统级芯片(SoC)，并计划在上市时即具备高速公路自动驾驶功能，以及停车召唤功能。\n据悉，NVIDIA DRIVE Orin每秒可运行254万亿次。\n在激光雷达方面，FF 91配置了Velodyne的首款固态激光雷达Velarray H800。Velarray H800为车规级激光雷达，可安装在车辆挡风玻璃后。\n除此之外，Velodyne还宣布其为法拉第未来FF 91的独家激光雷达供应商。\n\n电池方面，法拉第未来表示其锂离子电池电芯的能量密度，几乎是量产电动车电池的两倍，单次充电行驶里程可超过482公里。\n在动力方面，FF 91内置模块化的可变电驱动底盘架构，可将电池、动力总成系统，以及其专利组件“梯形逆变器”囊括其中。其功率可达1050马力，0-60英里/时的加速为2.39秒。\n在内饰方面，FF 91配置零重力座椅，后排乘客可拥有 48.9 英寸的腿部空间。驾驶舱配备 27 英寸显示屏和专利连接模块，可同时支持三个不同的网络运营商。\n目前，FF 91正在加利福尼亚州汉福德约102万平方米的工厂中生产。根据法拉第未来在微博发布的视频显示，FF 91的生产环节大部分需要手工装配。\n法拉第未来此前还披露了更多量产车型计划，据了解，FF 81 和 FF 71 预计分别于 2023 年和 2024 年开启量产。\n上市倒计时开启？\n除了 FF 91 的最新动态，在近期宣布的消息中，法拉第未来的上市进程也进一步公开。\n据悉，法拉第未来合并交易的公司PSAC（Property Solutions Acquisitions Corp.），将在7月20日通过线上举办股东大会，大会目的为批准PSAC与法拉第未来的业务合并。\n交易完成后，完成合并的公司股票以及认股权证将在纳斯达克交易，股票代码分别为“FFIE”和“FFIEW”。\n\n据推测，该笔交易将为法拉第带来近 10 亿美元的总收益，其中包括 PSAC 以信托方式持有的约 2.3 亿美元现金（未赎回情况下），以及 7.75 亿美元的普通股 PIPE。合并后公司的交易后股权价值约为 34 亿美元。\n事实上，法拉第未来本计划通过IPO上市，却因疫情原因迫使其选择难度较低的借壳上市。\n法拉第未来CEO Carsten Breitfeld曾对媒体Robb Report表示，法拉第未来在2020年的疫情之前，曾与许多私募股权公司讨论，计划使其通过IPO上市。在疫情袭来之后，私募股权公司出于对未来的不确定性而纷纷退出。\n幸运的是，2020年后公司通过SPAC上市的方式开始在业内流行。法拉第未来以长期合作的目的先后与 RMG （Riverside Management Group）和 PSAC 两家公司达成合作，获得超过10亿美元的现金。\n根据媒体MARKET REALIST的报道，在过去近7年的公司运营中，法拉第未来在没有任何收入的情况下花费了约 20 亿美元。同时，为了获得更多的收入，法拉第未来承担了更多债务，以及出售了公司少量股权。\nMARKET REALIST指出，法拉第未来的银行余额在 2020 年底只有 100 万美元。\n不过根据数据显示，在2015年-2020年10月间，法拉第未来通过融资、并购等方式至少获得45亿美金。\n当然，此次合并的最大成果之一或为FF 91量产版得以顺利上市。\nCarsten Breitfeld表示：“此次业务合并将使我们能够推出全新物种FF 91，一款极致智能的科技豪华电动汽车，旨在实现创始人的初衷，邀请用户和股东参与，共同塑造创新的未来移动生态系统。”\n话说回来，FF 91量产版已经开启预订，你愿意为了梦想而窒息吗？","news_type":1,"symbols_score_info":{"PSAC":0.9,"FFIE":0.9}},"isVote":1,"tweetType":1,"viewCount":2149,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170734623,"gmtCreate":1626450468762,"gmtModify":1703760513463,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170734623","repostId":"1174712972","repostType":4,"isVote":1,"tweetType":1,"viewCount":921,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144336202,"gmtCreate":1626267041906,"gmtModify":1703756659159,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/144336202","repostId":"1167929244","repostType":4,"isVote":1,"tweetType":1,"viewCount":1005,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145369887,"gmtCreate":1626190210749,"gmtModify":1703755282469,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/145369887","repostId":"1170391792","repostType":4,"repost":{"id":"1170391792","kind":"news","weMediaInfo":{"introduction":"全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。","home_visible":1,"media_name":"英为财情Investing","id":"92","head_image":"https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313"},"pubTimestamp":1626186576,"share":"https://ttm.financial/m/news/1170391792?lang=en_US&edition=fundamental","pubTime":"2021-07-13 22:29","market":"us","language":"zh","title":"Stop being blindly optimistic, Wall Street has begun to secretly short US stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1170391792","media":"英为财情Investing","summary":"英为财情Investing.com –周一美股小幅上涨，美国标准普尔500指数和纳斯达克综合指数再创新高，道琼斯工业平均指数则刷新5月11日以来新高，距历史最高点也仅有一步之遥。\n近几年美国股市像坐了","content":"<p><b>Investing.com-</b>U.S. stocks rose slightly on Monday, with the U.S. S&P 500 Index and Nasdaq Composite Index hitting new highs, and the Dow Jones Industrial Average hitting a new high since May 11, just one step away from its all-time high.</p><p>In recent years, the U.S. stock market has soared like a rocket, and one historical record after another has been refreshed. Except for a relatively large pullback/retracement in the U.S. stock market in 2020, the U.S. stock market has been rising for 11 consecutive years unconsciously.</p><p>The data shows that the S&P 500 index has fallen by at least 5% every 178 days on average, and this time the market has not seen such a situation for 292 days, the longest period since January 2018, when the U.S. S&P 500 index fell 10.8% after a 715-day rally.</p><p>At present, the market has become numb to the rise of U.S. stocks. Blind optimism has spread throughout the market, and any potential risks have been turned a blind eye. The VIX, which measures market volatility and is known as the \"panic index\", has fallen back to near the low point after the epidemic. Investors are almost completely unworried about the weakening of the stock market.</p><p><img src=\"https://static.tigerbbs.com/1f36f5b9563e63b9ea8a1f1f45a06a6c\" tg-width=\"840\" tg-height=\"470\"></p><p>But there is a sign that some people on Wall Street have begun to quietly prepare for the decline of US stocks.</p><p>Many hedge funds have found that the price of put options on the stock market is much more expensive than that of call options. For example, the price of a put option on the S&P 500 index that fell 10% before August is about 35 times the price of a call option that can profit from a 10% increase. At the height of the stock market panic in March 2020, the price of the downside put option was only 11 times that of the upside call option.</p><p>The emergence of this situation shows that many people are quietly buying put options, which leads to an increase in their prices.</p><p>During the epidemic, especially as the Delta variant of the virus continues to spread, investors are worried about the recovery of the U.S. economy. Rising inflation data also makes the market uneasy about the Fed's rate hike path, coupled with seasonal factors The impact, generally the period from mid-July to October is traditionally the weakest time of the year for the stock market, and some investors are beginning to prepare for possible pullback/retracement in the future.</p><p>However, as major banks begin to disclose their earnings reports this week, the earnings season in the United States is approaching. At present, all major investment banks expect a brilliant performance in this earnings season, which will support US stocks in the short term.</p><p>Finally, it needs to be clear that the possibility of a pullback/retracement in the U.S. stock market in the future is relatively high, but unless systemic risks occur, the possibility of a U.S. stock market crash is not high. The U.S. stock market is now crucial to the United States. It is an important channel for asset preservation and resistance to inflation. A large amount of capital is also gathered here. If the U.S. stock market collapses, it means that the U.S. economy collapses. The current status of the U.S. stock market is similar to that of our housing market, and it affects the whole body. Although the \"patron saint\" Comrade Trump has stepped down, the Biden administration and the Federal Reserve will not sit idly by.</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>Stop being blindly optimistic, Wall Street has begun to secretly short 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\">\nStop being blindly optimistic, Wall Street has begun to secretly short US stocks\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/92\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">英为财情Investing </p>\n<p class=\"h-time smaller\">2021-07-13 22:29</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Investing.com-</b>U.S. stocks rose slightly on Monday, with the U.S. S&P 500 Index and Nasdaq Composite Index hitting new highs, and the Dow Jones Industrial Average hitting a new high since May 11, just one step away from its all-time high.</p><p>In recent years, the U.S. stock market has soared like a rocket, and one historical record after another has been refreshed. Except for a relatively large pullback/retracement in the U.S. stock market in 2020, the U.S. stock market has been rising for 11 consecutive years unconsciously.</p><p>The data shows that the S&P 500 index has fallen by at least 5% every 178 days on average, and this time the market has not seen such a situation for 292 days, the longest period since January 2018, when the U.S. S&P 500 index fell 10.8% after a 715-day rally.</p><p>At present, the market has become numb to the rise of U.S. stocks. Blind optimism has spread throughout the market, and any potential risks have been turned a blind eye. The VIX, which measures market volatility and is known as the \"panic index\", has fallen back to near the low point after the epidemic. Investors are almost completely unworried about the weakening of the stock market.</p><p><img src=\"https://static.tigerbbs.com/1f36f5b9563e63b9ea8a1f1f45a06a6c\" tg-width=\"840\" tg-height=\"470\"></p><p>But there is a sign that some people on Wall Street have begun to quietly prepare for the decline of US stocks.</p><p>Many hedge funds have found that the price of put options on the stock market is much more expensive than that of call options. For example, the price of a put option on the S&P 500 index that fell 10% before August is about 35 times the price of a call option that can profit from a 10% increase. At the height of the stock market panic in March 2020, the price of the downside put option was only 11 times that of the upside call option.</p><p>The emergence of this situation shows that many people are quietly buying put options, which leads to an increase in their prices.</p><p>During the epidemic, especially as the Delta variant of the virus continues to spread, investors are worried about the recovery of the U.S. economy. Rising inflation data also makes the market uneasy about the Fed's rate hike path, coupled with seasonal factors The impact, generally the period from mid-July to October is traditionally the weakest time of the year for the stock market, and some investors are beginning to prepare for possible pullback/retracement in the future.</p><p>However, as major banks begin to disclose their earnings reports this week, the earnings season in the United States is approaching. At present, all major investment banks expect a brilliant performance in this earnings season, which will support US stocks in the short term.</p><p>Finally, it needs to be clear that the possibility of a pullback/retracement in the U.S. stock market in the future is relatively high, but unless systemic risks occur, the possibility of a U.S. stock market crash is not high. The U.S. stock market is now crucial to the United States. It is an important channel for asset preservation and resistance to inflation. A large amount of capital is also gathered here. If the U.S. stock market collapses, it means that the U.S. economy collapses. The current status of the U.S. stock market is similar to that of our housing market, and it affects the whole body. Although the \"patron saint\" Comrade Trump has stepped down, the Biden administration and the Federal Reserve will not sit idly by.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/347452cc99fb488c45ccd900fcf3aa20","relate_stocks":{"VIX":"标普500波动率指数",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170391792","content_text":"英为财情Investing.com –周一美股小幅上涨，美国标准普尔500指数和纳斯达克综合指数再创新高，道琼斯工业平均指数则刷新5月11日以来新高，距历史最高点也仅有一步之遥。\n近几年美国股市像坐了火箭般一路蹿升，一个接一个的历史记录被刷新，除了2020年美股出现一个较大幅度的回撤外，不知不觉间美股已经连续上涨了11年之久。\n数据显示，标普500指数平均每178天下跌至少5%，而此次市场已经有292天没有出现这样的情况，这是自2018年1月以来最长的一段时间，当时美国标准普尔500指数在经过一段715天的上涨后下跌了10.8%。\n目前市场对于美股的上涨已经麻木了，盲目的乐观情绪在整个市场蔓延，任何潜在的风险都被视而不见，衡量市场波动率素有“恐慌指数”之称的VIX已经回落到疫情后的低点附近，投资者几乎完全不担心股市会走软。\n\n但是有一个迹象却表明，华尔街有一部分人已经开始为美股的下跌悄悄做准备了。\n很多对冲基金发现，现在对股市看跌期权的价格比看涨期权的价格要昂贵的多。比如，标普500指数8月前下跌10%的看跌期权的价格，是可从上涨10%中获利的看涨期权价格的35倍左右。而在2020年3月股市恐慌最严重的时候，下行看跌期权的价格仅为上行看涨期权的11倍而已。\n这一情况的出现表明，很多人在悄悄的购买看跌期权从而导致其价格的上涨。\n在疫情期间，尤其是在Delta变种病毒不断扩散的情况下，投资者对美国经济复苏的情况感到担忧，不断上涨的通胀数据也令市场对美联储的加息路径感到不安，加上季节性因素的影响，一般7月中旬至10月这段时间传统上是一年中股市最疲软的时间，一些投资者开始为将来可能出现的回撤做准备。\n不过，随着本周各大银行开始披露财报，美国的财报季来临。目前各大投行都预期本次财报季将会有靓丽表现，短期内这将对美股构成支撑。\n最后，需要明确的一点是，美股未来出现回撤的可能性是比较高的，但是除非发生系统性风险，不然美股崩盘的可能性并不大。美股现在对美国来说是至关重要的，它是资产保值、抵御通胀的重要通道，大量的资本也在此聚集，如果美股崩了，意味着美国经济崩了。美股现在的地位类似于我们的房市，牵一发而动全身，虽然“守护神”特朗普同志下台了，但是拜登政府和美联储也不会坐视不管。","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"VIX":0.9}},"isVote":1,"tweetType":1,"viewCount":720,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148306314,"gmtCreate":1625925371538,"gmtModify":1703750951066,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/148306314","repostId":"1137161300","repostType":4,"isVote":1,"tweetType":1,"viewCount":1073,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148308287,"gmtCreate":1625925317849,"gmtModify":1703750950416,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/148308287","repostId":"1124741749","repostType":4,"repost":{"id":"1124741749","kind":"news","pubTimestamp":1625910991,"share":"https://ttm.financial/m/news/1124741749?lang=en_US&edition=fundamental","pubTime":"2021-07-10 17:56","market":"us","language":"zh","title":"Thorpe and Simmons: The legendary lives of two godfather investment tycoons","url":"https://stock-news.laohu8.com/highlight/detail?id=1124741749","media":"SMARTMATRIX","summary":"他们都出生于30年代，自幼天赋异禀、身在学术圈但都一心向钱，有两个共同的母校。","content":"<p>A Man for All Markets is the personal biography of Edward Thorp, the Chinese translation of \"The Man Who Beat All Markets\". Judging from Thorp's experience, from defeating casinos to entering Wall Street, OTC options, convertible bonds, stocks, futures and other derivatives, all Dabbled in, worthy of the name All Markets. Taleb says in the preface that his memoir reads like a thriller.</p><p>As a mathematical genius and the godfather of quantitative investment, he pioneered the introduction of probability theory, information theory, and computer programming into financial transactions, which influenced countless Quant bosses in later generations: Bill Gross, David Shaw, Ken Griffin... including the famous James Simons, whose Renaissance Technology company created the myth of the rate of return in financial history. Similarly, Simons' biography The Man Who Solved The Market records in detail the ups and downs of his and his team's conquest of the financial market.</p><p><b>Academic origin</b></p><p>When culture flourishes, people are outstanding. The so-called outstanding people, such as the Huxiang School since the late Ming Dynasty in China, made Hunan the cradle of revolutionaries. In the academic circle, there is a similar phenomenon. If you study the backgrounds of the two bosses carefully, you will find a lot in common. They were both born in the 1930s. They were gifted since childhood, in the academic circle, but they were all dedicated to money. They have two common alma maters: the University of California, Berkeley and MIT. The academics of both universities reached their peak after the war. One of the main reasons was the large-scale military scientific research activities (the famous Manhattan Project, cryptography, information theory and modern computers) spawned by World War II. Both Thorp and Simons happened to catch up with this wave of academic dividends. In the 1950s, Thorp was obsessed with studying roulette with Shannon, while Simons was still immersed in theoretical mathematics, which also made his academic achievements higher (Chern-Simons Theroy). In the 1960s, MIT became the center of the computer revolution, and mathematics and computers were the two keys to Wall Street, and Thorp was the lucky one to hold these two keys.</p><p><b>Casinos vs Wall Street</b></p><p>The popular story nowadays is that Thorp defeated the casino by using the law of large numbers and Kelly's formula, and he became the first person in history to be \"blacked out\" by Las Vegas casinos. By contrast, the hedge fund he founded, PNP (Princeton Newport Partners), has a dim profile. In fact, from 1969 to 1988, the annualized returns of the two PNP funds reached 19.1% and 15.1% respectively, while the average annual growth rate of the S&P index during the same period was 10.2%. In the past 19 years, after two oil crises in the 1970s and the stock market crash in 1987, the two funds have never suffered a single-quarter loss, let alone an annual loss. In the world's largest casino, its performance is unparalleled, and its investment model is 20 years ahead of the wide customers who have filed into Wall Street since then.</p><p>In 1988, Thorp's fund was forced to close because it was implicated in the case of Milken, the king of junk bonds. It was in this year that Simons established the Medallion Fund. He is over 500 years old and can be described as a late bloomer. Before that, he had been groping for 10 years to find a successful investment model, and had been swinging between subjective and quantitative. Although the outside world has always regarded Simons as a master of quantitative investment, in fact, his role is completely different from Thorp's. His main job is not to develop quantitative models, but to dig all kinds of scientists from the academic circle to help the company develop quantitative models, and shape the company's corporate culture as a spiritual leader. As a world-class mathematician + excellent sales, he can deal with different people well, which is a rare ability.</p><p><b>The road to quantification</b></p><p>As a pioneer in quantitative trading, Thorp is good at hedging and arbitrage of various derivatives. The bear market and volatility in the 1970s made this strategy work perfectly. Relying on his mathematical talent and market sense, he discovered new blue oceans: Statistical Arbitrage and factor models-early quant prototypes. The risk under this model is theoretically infinite, especially the upper limit of losses for shorting those overvalued stocks is infinite. Thorp's main risk control strategy is diversified investment. Since then, LTCM has adopted a similar arbitrage model, but lacked a risk control strategy like Thorp and was defeated by the black swan. In order to improve investment efficiency, Thorp turned investment strategies into programs and once again became a pioneer in programmatic trading (Algorithm Trading).</p><p>Simons, in contrast, was less lucky. From early attempts at intuitive investing to trend-based momentum trading, reversal trading to continuous collection and mining of massive amounts of data, including data cleaning, signal mechanism and backtesting. In 1986, the model framework for identifying hidden price trends was used-in 1989, abnormal trading signals were used for short-term high-frequency trading-in 1992, it was changed to only a single model (key breakthrough), and then speech recognition experts helped make various technological breakthroughs (financial models have similarities with speech recognition), and the model has gone through a long process of iterative improvement. In the end, the important core competence of the model was developed: identifying the \"value of transactions\", including: the certainty of price trends, the weight trade-off between trading signals, and the judgment of the impact of trading based on signals on the market. This capability is particularly important for high-frequency full-variety trading.</p><p><b>Winning System: Probabilistic Thinking & Modeling Human Behavior</b></p><p>For Thorp, gambling and investment are games based on probability statistics, and the bet amount is allocated according to the winning percentage (fund management based on Kelly's law). The first major breakthrough of Medallion Fund also comes from the application of Kelly's law and shortening the trading frequency to make its trading more reflective of the law of large numbers. Medallion's system can make money as long as the winning rate is slightly above 50%, regardless of the profit or loss of every sale. Essentially, it is making money by taking advantage of the omissions and mistakes of other traders (market ineffectiveness). Humans are highly predictable in their behavior under high pressure, and they instinctively show panic. The premise of modeling is that humans will constantly repeat past behaviors. Soros once modeled human behavior with the philosophical theory of reflexivity, while Simons's team used data and algorithms to model human behavior to confirm the theory of behavioral finance.</p><p>Unlike traditional value investing, which simplifies the market into a market gentleman, the experience of quantitative investing is that there are far more factors and variables that affect financial markets and investments than most people realize, and the factors that lead to market ineffectiveness can even be said to be encrypted (Thorp spares no effort to refute the efficient market hypothesis in his book). Investors try to find the most basic driving factors, but what they are missing may be an entire dimension of information. Medallion Fund can't explain the logic behind every profit law, just as human beings can't understand Alpha Go, perhaps it exists at a higher latitude.</p><p>Models are abstractions and simplifications of the world, but models are not omnipotent. When data and desire conflict, even rational scientists cannot be completely rational. Simons' original intention was to create an algorithm-driven automatic trading system, which completely shielded human subjective judgment. However, in every crisis, he still couldn't help but intervene manually to reduce his dependence on signals and actively reduce his trading position. The results of the intervention were not very ideal. His colleague Patterson also said: \"<b>Never put too much trust in trading models. The basic mistake of LTCMs is to believe that the model is the truth. We never believe that our model can reflect the whole fact, it only reflects some of it</b>。”</p><p><b>Wide guest student</b></p><p>In fact, the intersection of many big guys is far beyond our imagination. For example, Thorp and Buffett played at the bridge table. After confirming that Buffett would eventually become the richest man in the United States, they decisively invested in BRK stock. Many people think that Xueba may not necessarily have a good life. After all, there is a huge gap between book smart and street smart, and the rules of the real world are much more complicated than those of schools. However, Thorp has practiced the way of thinking of applying abstract thinking to real life, which truly explains that \"a tough life doesn't need to be explained\". Academics, wealth and family are perfect, and he realized early that life itself is higher than making money. Compared with Thorp's splendid life, Simons's life has too many twists and turns. He is divorced, his two sons have suffered misfortune and betrayal by his partners. But in the end, I chose to make peace with life and devote myself to charity. From academic career to lenient students, I explored the true meaning of destiny in the ups and downs, and experience itself was the meaning. As Thorp said at the end of his autobiography: Life is like reading a novel or running a marathon. Reaching the finish line is often not so important, but the journey itself and the experience along the way are more precious.<b>You have dance.</b></p>","source":"lsy1625911325017","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>Thorpe and Simmons: The legendary lives of two godfather investment tycoons</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\">\nThorpe and Simmons: The legendary lives of two godfather investment tycoons\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">SMARTMATRIX</strong><span class=\"h-time small\">2021-07-10 17:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A Man for All Markets is the personal biography of Edward Thorp, the Chinese translation of \"The Man Who Beat All Markets\". Judging from Thorp's experience, from defeating casinos to entering Wall Street, OTC options, convertible bonds, stocks, futures and other derivatives, all Dabbled in, worthy of the name All Markets. Taleb says in the preface that his memoir reads like a thriller.</p><p>As a mathematical genius and the godfather of quantitative investment, he pioneered the introduction of probability theory, information theory, and computer programming into financial transactions, which influenced countless Quant bosses in later generations: Bill Gross, David Shaw, Ken Griffin... including the famous James Simons, whose Renaissance Technology company created the myth of the rate of return in financial history. Similarly, Simons' biography The Man Who Solved The Market records in detail the ups and downs of his and his team's conquest of the financial market.</p><p><b>Academic origin</b></p><p>When culture flourishes, people are outstanding. The so-called outstanding people, such as the Huxiang School since the late Ming Dynasty in China, made Hunan the cradle of revolutionaries. In the academic circle, there is a similar phenomenon. If you study the backgrounds of the two bosses carefully, you will find a lot in common. They were both born in the 1930s. They were gifted since childhood, in the academic circle, but they were all dedicated to money. They have two common alma maters: the University of California, Berkeley and MIT. The academics of both universities reached their peak after the war. One of the main reasons was the large-scale military scientific research activities (the famous Manhattan Project, cryptography, information theory and modern computers) spawned by World War II. Both Thorp and Simons happened to catch up with this wave of academic dividends. In the 1950s, Thorp was obsessed with studying roulette with Shannon, while Simons was still immersed in theoretical mathematics, which also made his academic achievements higher (Chern-Simons Theroy). In the 1960s, MIT became the center of the computer revolution, and mathematics and computers were the two keys to Wall Street, and Thorp was the lucky one to hold these two keys.</p><p><b>Casinos vs Wall Street</b></p><p>The popular story nowadays is that Thorp defeated the casino by using the law of large numbers and Kelly's formula, and he became the first person in history to be \"blacked out\" by Las Vegas casinos. By contrast, the hedge fund he founded, PNP (Princeton Newport Partners), has a dim profile. In fact, from 1969 to 1988, the annualized returns of the two PNP funds reached 19.1% and 15.1% respectively, while the average annual growth rate of the S&P index during the same period was 10.2%. In the past 19 years, after two oil crises in the 1970s and the stock market crash in 1987, the two funds have never suffered a single-quarter loss, let alone an annual loss. In the world's largest casino, its performance is unparalleled, and its investment model is 20 years ahead of the wide customers who have filed into Wall Street since then.</p><p>In 1988, Thorp's fund was forced to close because it was implicated in the case of Milken, the king of junk bonds. It was in this year that Simons established the Medallion Fund. He is over 500 years old and can be described as a late bloomer. Before that, he had been groping for 10 years to find a successful investment model, and had been swinging between subjective and quantitative. Although the outside world has always regarded Simons as a master of quantitative investment, in fact, his role is completely different from Thorp's. His main job is not to develop quantitative models, but to dig all kinds of scientists from the academic circle to help the company develop quantitative models, and shape the company's corporate culture as a spiritual leader. As a world-class mathematician + excellent sales, he can deal with different people well, which is a rare ability.</p><p><b>The road to quantification</b></p><p>As a pioneer in quantitative trading, Thorp is good at hedging and arbitrage of various derivatives. The bear market and volatility in the 1970s made this strategy work perfectly. Relying on his mathematical talent and market sense, he discovered new blue oceans: Statistical Arbitrage and factor models-early quant prototypes. The risk under this model is theoretically infinite, especially the upper limit of losses for shorting those overvalued stocks is infinite. Thorp's main risk control strategy is diversified investment. Since then, LTCM has adopted a similar arbitrage model, but lacked a risk control strategy like Thorp and was defeated by the black swan. In order to improve investment efficiency, Thorp turned investment strategies into programs and once again became a pioneer in programmatic trading (Algorithm Trading).</p><p>Simons, in contrast, was less lucky. From early attempts at intuitive investing to trend-based momentum trading, reversal trading to continuous collection and mining of massive amounts of data, including data cleaning, signal mechanism and backtesting. In 1986, the model framework for identifying hidden price trends was used-in 1989, abnormal trading signals were used for short-term high-frequency trading-in 1992, it was changed to only a single model (key breakthrough), and then speech recognition experts helped make various technological breakthroughs (financial models have similarities with speech recognition), and the model has gone through a long process of iterative improvement. In the end, the important core competence of the model was developed: identifying the \"value of transactions\", including: the certainty of price trends, the weight trade-off between trading signals, and the judgment of the impact of trading based on signals on the market. This capability is particularly important for high-frequency full-variety trading.</p><p><b>Winning System: Probabilistic Thinking & Modeling Human Behavior</b></p><p>For Thorp, gambling and investment are games based on probability statistics, and the bet amount is allocated according to the winning percentage (fund management based on Kelly's law). The first major breakthrough of Medallion Fund also comes from the application of Kelly's law and shortening the trading frequency to make its trading more reflective of the law of large numbers. Medallion's system can make money as long as the winning rate is slightly above 50%, regardless of the profit or loss of every sale. Essentially, it is making money by taking advantage of the omissions and mistakes of other traders (market ineffectiveness). Humans are highly predictable in their behavior under high pressure, and they instinctively show panic. The premise of modeling is that humans will constantly repeat past behaviors. Soros once modeled human behavior with the philosophical theory of reflexivity, while Simons's team used data and algorithms to model human behavior to confirm the theory of behavioral finance.</p><p>Unlike traditional value investing, which simplifies the market into a market gentleman, the experience of quantitative investing is that there are far more factors and variables that affect financial markets and investments than most people realize, and the factors that lead to market ineffectiveness can even be said to be encrypted (Thorp spares no effort to refute the efficient market hypothesis in his book). Investors try to find the most basic driving factors, but what they are missing may be an entire dimension of information. Medallion Fund can't explain the logic behind every profit law, just as human beings can't understand Alpha Go, perhaps it exists at a higher latitude.</p><p>Models are abstractions and simplifications of the world, but models are not omnipotent. When data and desire conflict, even rational scientists cannot be completely rational. Simons' original intention was to create an algorithm-driven automatic trading system, which completely shielded human subjective judgment. However, in every crisis, he still couldn't help but intervene manually to reduce his dependence on signals and actively reduce his trading position. The results of the intervention were not very ideal. His colleague Patterson also said: \"<b>Never put too much trust in trading models. The basic mistake of LTCMs is to believe that the model is the truth. We never believe that our model can reflect the whole fact, it only reflects some of it</b>。”</p><p><b>Wide guest student</b></p><p>In fact, the intersection of many big guys is far beyond our imagination. For example, Thorp and Buffett played at the bridge table. After confirming that Buffett would eventually become the richest man in the United States, they decisively invested in BRK stock. Many people think that Xueba may not necessarily have a good life. After all, there is a huge gap between book smart and street smart, and the rules of the real world are much more complicated than those of schools. However, Thorp has practiced the way of thinking of applying abstract thinking to real life, which truly explains that \"a tough life doesn't need to be explained\". Academics, wealth and family are perfect, and he realized early that life itself is higher than making money. Compared with Thorp's splendid life, Simons's life has too many twists and turns. He is divorced, his two sons have suffered misfortune and betrayal by his partners. But in the end, I chose to make peace with life and devote myself to charity. From academic career to lenient students, I explored the true meaning of destiny in the ups and downs, and experience itself was the meaning. As Thorp said at the end of his autobiography: Life is like reading a novel or running a marathon. Reaching the finish line is often not so important, but the journey itself and the experience along the way are more precious.<b>You have dance.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/g5Zdx-uS3wl9QbsHZm1DVw\">SMARTMATRIX</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/388d882133df2db2363aa871ff756c47","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://mp.weixin.qq.com/s/g5Zdx-uS3wl9QbsHZm1DVw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124741749","content_text":"A Man for All Markets是Edward Thorp的个人传记，中文翻译《战胜一切市场的人》，从Thorp的经历来看，从打败赌场到进入华尔街，OTC期权、可转债、股票、期货等衍生品，全部涉猎，名副其实的All Markets。塔勒布在序言里说，他的回忆录读起来像一部惊悚小说。\n作为一个数学天才、量化投资教父级人物，他开创性的将概率论、信息论、计算机编程引入金融交易，影响了后世无数Quant大佬：Bill Gross、David Shaw、Ken Griffin...其中也包括大名鼎鼎的James Simons，后者的文艺复兴科技公司创造了金融史上的回报率神话，同样，讲述Simons的传记The Man Who Solved The Market，详细记录了他和他的团队征服金融市场的起起落落，虽是一位华尔街日报作家根据采访汇编而成，但其中不少以前从未披露过的精彩故事。\n学术源流\n文化兴，则人杰出，所谓的人杰地灵，比如中国明末以来的湖湘学派让湖南成为革命党人的摇篮。在学术圈，也有类似的现象。仔细研究两位大佬的背景，会发现很多共通点，他们都出生于30年代，自幼天赋异禀、身在学术圈但都一心向钱，有两个共同的母校：加州大学伯克利分校和MIT。两校的学术在战后都达到了巅峰，主要一个原因就是二战催生的大规军事科研活动（著名的曼哈顿计划、密码学、信息论和现代计算机），Thorp和Simons都恰好赶上了这波学术红利。50年代，Thorp醉心于和香农一起研究轮盘赌，而Simons仍埋头于理论数学问题，这也使得其在学术上的成就更高（Chern-Simons Theroy）。60年代，MIT成为计算机革命的中心，而数学和计算机正是通向华尔街的两把钥匙，Thorp正是手握这两把钥匙的幸运儿。\n赌场vs华尔街\n如今为人津津乐道的故事是Thorp利用大数定律和凯利公式打败了赌场，他也成了历史上第一个被拉斯维加斯赌场“拉黑”的人。相比之下，他创设的对冲基金PNP（Princeton Newport Partners）知名度黯淡不少。实际上，从1969年到1988年，PNP两支基金的年化收益率分别达到19.1%和15.1%，同期标普指数年均增长率为10.2%。19年间历经70年代两次石油危机、87年股灾，两只基金从未发生单季亏损，更没有年度亏损。在世间最大的赌场，其业绩冠绝其时，其投资模式，领先此后鱼贯进入华尔街的宽客们20年。\n1988年，Thorp的基金因为受到垃圾债券之王米尔肯一案的牵连被迫关闭。正是在这一年，Simons成立大奖章基金，已年过半百的他，可谓大器晚成，在此前为了寻找成功的投资模型已经摸索了10年之久，一直在主观和量化之间摇摆。尽管外界一直都把Simons视作量化投资大师，但实际上他点角色和Thorp完全不同，他的主要工作并不是开发量化模型，而是从学术圈挖掘各类科学家来帮助公司开发量化模型，并且作为精神领袖塑造公司企业文化。作为一名世界级的数学家+卓越的销售，他与不同的人都能融洽的打交道，这是一种罕见的能力。\n量化之路\n作为量化交易的先驱，Thorp擅长各种衍生品的对冲套利，70年代的熊市和波动率让这种策略运行的非常完美。依靠自己的数学天赋和市场嗅觉发现了新的蓝海：统计套利（Statistical Arbitrage）和因子模型（factors model）——早期的quant原型。这种模式下的风险理论上是无穷的，尤其是做空那些价格高估的股票的损失上限是无穷大，Thorp主要风控策略是分散化投资。此后的LTCM采用类似的套利模式，但缺少Thorp这样的风控策略，被黑天鹅击败。为了提升投资效率，Thorp将投资策略变成程序，再次成为程序化交易（Algorithm Trading）的先驱。\n相比之下，Simons就没那么幸运了。从早期尝试直觉投资到基于趋势的动量交易、反转交易再到持续收集挖掘海量数据包括数据清洗、信号机制和回溯测试。1986年使用识别隐藏价格趋势的模型框架——1989年利用异常交易信号进行短期高频交易——1992年改为只用单一模型（关键性突破），而后语音识别专家帮助进行各种技术突破（金融模型与语音识别有相似之处），模型经历了漫长迭代改进的过程。最终练就了模型重要核心能力：识别出“交易的价值”，包括：价格趋势的确定性大小、交易信号之间的权重取舍、根据信号进行交易对市场造成的影响的判断。这项能力对于高频全品种交易尤为重要。\n取胜系统：概率思考&对人类行为建模\n对Thorp来说，赌博和投资都是以概率统计为基础的游戏，根据胜率的大小来分配下注金额的大小（基于凯利法则的资金管理），而大奖章基金的第一次重大突破也来自于对凯利法则的运用以及缩短交易频率使其交易更体现大数定律。大奖章的系统只要胜率略高于50%就能赚钱，而不在乎每一笔买卖的盈亏。本质上，是在利用其他交易者的疏忽和错误赚钱（市场无效）。人类在高压下的行为具有很高的可预测性，他们会本能地表现出恐慌。建模的前提是人类会不断重复过去的行为。索罗斯曾以反身性的哲学理论对人类行为建模，而Simons的团队利用数据和算法对人类行为建模，以此印证行为金融学的理论。\n与传统的价值投资把市场面简化成一位市场先生不同，量化投资的经验是，影响金融市场和投资的因素和变量远远比大多数人意识到的更多，导致市场无效的因素甚至可以说是加密的（Thorp在书中对有效市场假说也不遗余力的进行驳斥）。投资者努力寻找最基本的推动因素，但是遗漏的也许是一整个维度的信息。大奖章基金无法对每一条盈利的规律背后的逻辑进行解释，就如同人类无法理解阿尔法围棋一样，也许是更高纬度的存在。\n模型是对世界的抽象和简化，但模型并不是万能的。当数据和欲望相冲突，即便是理性的科学家，也无法做到完全理性。Simons的初心是创建的算法驱动的自动交易系统，完全屏蔽人类的主观判断，但每一次危机，他仍忍不住会手动干预，减少对信号的依赖，主动缩减交易头寸，可干预的结果并不十分理想。他的同事帕特森也说：”永远不要对交易模型过于信任。长期资本管理公司的基本错误是认为模型就是事实真相，我们从未相信我们的模型能够反映全部事实，它只反映事实的一部分。”\n宽客人生\n其实很多大佬的交集，远远超过我们想象。比如Thorp和巴菲特在桥牌桌上过过招，在确认巴菲特最终会成为全美最富有的人之后，果断投资了BRK的股票。很多人以为，学霸不一定会拥有好人生，毕竟，book smart和street smart之间的有极大的鸿沟，现实世界的规则比学校要复杂太多，但Thorp践行了将抽象思维运用到现实生活中的思维方式，真正诠释了“彪悍的人生不需要解释”，学术、财富、家庭圆满，很早就意识到在生活本身高于赚钱。相比较Thorp精彩纷呈的人生，Simons的人生曲折太多，离过婚，他的两个儿子先后遭受不幸，还遭遇过伙伴背叛。但最终还是选择和生活讲和，并投身慈善事业，从学术生涯到宽客人生，在跌宕起伏中探寻命运的真谛，而经历本身就是意义所在。就像Thorp在自传末尾所说：生活像是读一本小说或者跑一场马拉松，到达终点往往不是那么重要，旅途本身和沿途的体验更为珍贵。No body can take away the dance you have danced.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1099,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140051933,"gmtCreate":1625620774422,"gmtModify":1703745025151,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"?&nbsp;","listText":"?&nbsp;","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/140051933","repostId":"1154903802","repostType":4,"isVote":1,"tweetType":1,"viewCount":976,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154070532,"gmtCreate":1625463903826,"gmtModify":1703742230169,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Rr","listText":"Rr","text":"Rr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/154070532","repostId":"1168133884","repostType":4,"repost":{"id":"1168133884","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625021330,"share":"https://ttm.financial/m/news/1168133884?lang=en_US&edition=fundamental","pubTime":"2021-06-30 10:48","market":"fut","language":"zh","title":"Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5","url":"https://stock-news.laohu8.com/highlight/detail?id=1168133884","media":"老虎资讯综合","summary":"因美国独立日假期，7月5日（周一）美股休市一日，7月6日（周二）起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介：\n独立日是美国法定国庆日，日期为每年7月4日，以纪念1776年7月","content":"<p><b>Due to the Independence Day holiday in the United States, the U.S. stock market will be closed for one day on July 5 (Monday), and trading will resume on July 6 (Tuesday).</b></p><p>Hong Kong stocks, A-shares, British stocks, Australian stocks and Singapore stock markets are trading as usual.</p><p><b>Background brief:</b></p><p><b>Independence Day</b>It is a legal national day of the United States, which is dated on July 4th every year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776. Independence Day in the United States is as grand as religious and folk festivals. Before the festival, ordinary people clean their courtyards, decorate their homes and fly the national flag.<img src=\"https://static.tigerbbs.com/f87ddb03d9b4d56cf0dce9450e742016\" tg-width=\"626\" tg-height=\"417\"></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>Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5</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\">\nReminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-30 10:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Due to the Independence Day holiday in the United States, the U.S. stock market will be closed for one day on July 5 (Monday), and trading will resume on July 6 (Tuesday).</b></p><p>Hong Kong stocks, A-shares, British stocks, Australian stocks and Singapore stock markets are trading as usual.</p><p><b>Background brief:</b></p><p><b>Independence Day</b>It is a legal national day of the United States, which is dated on July 4th every year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776. Independence Day in the United States is as grand as religious and folk festivals. Before the festival, ordinary people clean their courtyards, decorate their homes and fly the national flag.<img src=\"https://static.tigerbbs.com/f87ddb03d9b4d56cf0dce9450e742016\" tg-width=\"626\" tg-height=\"417\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/21dd6adec6b29203b5bca22347419441","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168133884","content_text":"因美国独立日假期，7月5日（周一）美股休市一日，7月6日（周二）起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介：\n独立日是美国法定国庆日，日期为每年7月4日，以纪念1776年7月4日大陆会议在费城正式通过《独立宣言》。美国的独立日，与宗教、民俗节日一样隆重，老百姓在节日前清洁院落，装饰家居，悬挂国旗。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156841816,"gmtCreate":1625213918035,"gmtModify":1703738487401,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"OK&nbsp;","listText":"OK&nbsp;","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156841816","repostId":"1100750301","repostType":4,"isVote":1,"tweetType":1,"viewCount":644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156841087,"gmtCreate":1625213900649,"gmtModify":1703738486580,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156841087","repostId":"1100750301","repostType":4,"isVote":1,"tweetType":1,"viewCount":615,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156855528,"gmtCreate":1625213694564,"gmtModify":1703738478449,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571305293972802","idStr":"3571305293972802"},"themes":[],"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/156855528","repostId":"1168133884","repostType":4,"repost":{"id":"1168133884","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625021330,"share":"https://ttm.financial/m/news/1168133884?lang=en_US&edition=fundamental","pubTime":"2021-06-30 10:48","market":"fut","language":"zh","title":"Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5","url":"https://stock-news.laohu8.com/highlight/detail?id=1168133884","media":"老虎资讯综合","summary":"因美国独立日假期，7月5日（周一）美股休市一日，7月6日（周二）起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介：\n独立日是美国法定国庆日，日期为每年7月4日，以纪念1776年7月","content":"<p><b>Due to the Independence Day holiday in the United States, the U.S. stock market will be closed for one day on July 5 (Monday), and trading will resume on July 6 (Tuesday).</b></p><p>Hong Kong stocks, A-shares, British stocks, Australian stocks and Singapore stock markets are trading as usual.</p><p><b>Background brief:</b></p><p><b>Independence Day</b>It is a legal national day of the United States, which is dated on July 4th every year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776. Independence Day in the United States is as grand as religious and folk festivals. Before the festival, ordinary people clean their courtyards, decorate their homes and fly the national flag.<img src=\"https://static.tigerbbs.com/f87ddb03d9b4d56cf0dce9450e742016\" tg-width=\"626\" tg-height=\"417\"></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>Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5</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\">\nReminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-30 10:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Due to the Independence Day holiday in the United States, the U.S. stock market will be closed for one day on July 5 (Monday), and trading will resume on July 6 (Tuesday).</b></p><p>Hong Kong stocks, A-shares, British stocks, Australian stocks and Singapore stock markets are trading as usual.</p><p><b>Background brief:</b></p><p><b>Independence Day</b>It is a legal national day of the United States, which is dated on July 4th every year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776. Independence Day in the United States is as grand as religious and folk festivals. Before the festival, ordinary people clean their courtyards, decorate their homes and fly the national flag.<img src=\"https://static.tigerbbs.com/f87ddb03d9b4d56cf0dce9450e742016\" tg-width=\"626\" tg-height=\"417\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/21dd6adec6b29203b5bca22347419441","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168133884","content_text":"因美国独立日假期，7月5日（周一）美股休市一日，7月6日（周二）起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介：\n独立日是美国法定国庆日，日期为每年7月4日，以纪念1776年7月4日大陆会议在费城正式通过《独立宣言》。美国的独立日，与宗教、民俗节日一样隆重，老百姓在节日前清洁院落，装饰家居，悬挂国旗。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":764,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":183416372,"gmtCreate":1623340464796,"gmtModify":1704201369475,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Yi","listText":"Yi","text":"Yi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/183416372","repostId":"2142526221","repostType":4,"isVote":1,"tweetType":1,"viewCount":675,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114405475,"gmtCreate":1623083855997,"gmtModify":1704195811186,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Q","listText":"Q","text":"Q","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/114405475","repostId":"2141823276","repostType":4,"repost":{"id":"2141823276","kind":"highlight","pubTimestamp":1623080428,"share":"https://ttm.financial/m/news/2141823276?lang=en_US&edition=fundamental","pubTime":"2021-06-07 23:40","market":"us","language":"zh","title":"Bank of America: Some investment patterns in US stocks since 1928","url":"https://stock-news.laohu8.com/highlight/detail?id=2141823276","media":"华尔街见闻","summary":"目前市场对于美股是否“过度繁荣”的讨论非常热烈，有投资者担心美股或因美联储政策变化而出现大规模调整。\n美国银行试图从历史数据中寻找线索。该行统计显示，自1928年的月度数据表明传统“5月卖出”的股市谚","content":"<p>At present, the market is discussing whether the U.S. stock market is \"over-prosperous\", and some investors are worried that the U.S. stock market may undergo large-scale adjustments due to changes in the Federal Reserve's policy.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Trying to find clues from historical data. The bank's statistics show that monthly data since 1928 shows that the traditional stock market proverb of \"sell in May\" is not true, and there is a high probability that U.S. stocks will experience a summer rise.</p><p><h2>The stock market proverb of \"sell in May\" doesn't hold true</h2>Bank of America said that monthly data since 1928 showed that the traditional \"sell in May\" strategy did not hold, and the S&P 500 index had a high probability of experiencing a summer rise.</p><p><b>From a monthly perspective, although the return rate in May is negative, it is an excellent periodic monthly buying point</b>: The average return in June is about 0.77%; The average return in July was 1.58%, the highest in the whole year; August returns were also pretty good, averaging 0.7%.</p><p>September was the weakest month of the year, with an average return of-1.03%.<img src=\"https://static.tigerbbs.com/ffef396fe83da8fb05a1fcf928aca356\" tg-width=\"1095\" tg-height=\"760\" referrerpolicy=\"no-referrer\"></p><p>The \"Presidential Market\" also confirms the law of the summer market of US stocks.</p><p><b>Statistics show that in the first year after the new US president takes office, the large-scale rebound of US stocks is usually concentrated in July-August</b>: The related rise probability in July reached 65%, and the historical average return reached 2.28%. September-October is a relatively weak month.</p><p><img src=\"https://static.tigerbbs.com/0ac31bf82d51f9dc069f81cb79ee98d7\" tg-width=\"1103\" tg-height=\"790\" referrerpolicy=\"no-referrer\"></p><p><h2>The cross-month pattern also shows the summer rising pattern</h2>From a cross-month perspective, Bank of America statistics show that June-August is the second best three months in the whole year, with a related rising probability of 65% and an average return rate of 3.18%; The weakest 3 months of 1 year are August to October, with a 55% probability of rise, but an average return of only-0.03%</p><p><img src=\"https://static.tigerbbs.com/b723af01581079a022899a5dacf947ed\" tg-width=\"1119\" tg-height=\"816\" referrerpolicy=\"no-referrer\"></p><p>August-October are the weakest three months of the year.<b>This means that there is a risk of an autumn correction in U.S. stocks.</b><img src=\"https://static.tigerbbs.com/9b56d223976b66649f0adb71a21b3cce\" tg-width=\"1106\" tg-height=\"802\" referrerpolicy=\"no-referrer\"></p><p><h2>Higher returns in the first 10 trading days of the month</h2>In terms of short-term trading, monthly data since 1928 show that,<b>Market performance in the first 10 trading days of a single month tends to be stronger than in the last 10 trading days (except December).</b><img src=\"https://static.tigerbbs.com/2d0204fb5c8b49191b3a1d854be72a01\" tg-width=\"1097\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p><b>June and July are the months when the relevant rules are most obvious.</b>The average probability of rising in the first 10 trading days of June is 59%, with an average return of 0.71%, and the probability of rising in the last 10 trading days is 47%, with an average return of-0.01%. The probability of rising in the first 10 trading days of July is 68%, with an average return of 1.53%, and the probability of rising in the last 10 trading days is 59%, with an average return of-0.02%.<img src=\"https://static.tigerbbs.com/ea32f3689760a04aa567b8b1c2daaaa1\" tg-width=\"1094\" tg-height=\"827\" referrerpolicy=\"no-referrer\"></p><p><h2>U.S. stock rebound may continue</h2>Bank of America emphasized that the Bloomberg U.S. Financial Conditions Index is currently breaking through a new high, and this is precisely the leading indicator for the S&P 500 to break through a new high. This may suggest that the market will continue to rise.<img src=\"https://static.tigerbbs.com/9d72ba609108e876b7927dd14251dae4\" tg-width=\"1096\" tg-height=\"751\" referrerpolicy=\"no-referrer\">Bank of America predicts that if this indicator continues to rise, the S&P 500 index is expected to gain further upward momentum and move towards the 4,400-4,500-point range.<img src=\"https://static.tigerbbs.com/9c480d60762f6cae516e86860cf3bbbc\" tg-width=\"1112\" tg-height=\"749\" referrerpolicy=\"no-referrer\"></p>","source":"wallstreetcn_api","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>Bank of America: Some investment patterns in US stocks since 1928</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\">\nBank of America: Some investment patterns in US stocks since 1928\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-07 23:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>At present, the market is discussing whether the U.S. stock market is \"over-prosperous\", and some investors are worried that the U.S. stock market may undergo large-scale adjustments due to changes in the Federal Reserve's policy.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Trying to find clues from historical data. The bank's statistics show that monthly data since 1928 shows that the traditional stock market proverb of \"sell in May\" is not true, and there is a high probability that U.S. stocks will experience a summer rise.</p><p><h2>The stock market proverb of \"sell in May\" doesn't hold true</h2>Bank of America said that monthly data since 1928 showed that the traditional \"sell in May\" strategy did not hold, and the S&P 500 index had a high probability of experiencing a summer rise.</p><p><b>From a monthly perspective, although the return rate in May is negative, it is an excellent periodic monthly buying point</b>: The average return in June is about 0.77%; The average return in July was 1.58%, the highest in the whole year; August returns were also pretty good, averaging 0.7%.</p><p>September was the weakest month of the year, with an average return of-1.03%.<img src=\"https://static.tigerbbs.com/ffef396fe83da8fb05a1fcf928aca356\" tg-width=\"1095\" tg-height=\"760\" referrerpolicy=\"no-referrer\"></p><p>The \"Presidential Market\" also confirms the law of the summer market of US stocks.</p><p><b>Statistics show that in the first year after the new US president takes office, the large-scale rebound of US stocks is usually concentrated in July-August</b>: The related rise probability in July reached 65%, and the historical average return reached 2.28%. September-October is a relatively weak month.</p><p><img src=\"https://static.tigerbbs.com/0ac31bf82d51f9dc069f81cb79ee98d7\" tg-width=\"1103\" tg-height=\"790\" referrerpolicy=\"no-referrer\"></p><p><h2>The cross-month pattern also shows the summer rising pattern</h2>From a cross-month perspective, Bank of America statistics show that June-August is the second best three months in the whole year, with a related rising probability of 65% and an average return rate of 3.18%; The weakest 3 months of 1 year are August to October, with a 55% probability of rise, but an average return of only-0.03%</p><p><img src=\"https://static.tigerbbs.com/b723af01581079a022899a5dacf947ed\" tg-width=\"1119\" tg-height=\"816\" referrerpolicy=\"no-referrer\"></p><p>August-October are the weakest three months of the year.<b>This means that there is a risk of an autumn correction in U.S. stocks.</b><img src=\"https://static.tigerbbs.com/9b56d223976b66649f0adb71a21b3cce\" tg-width=\"1106\" tg-height=\"802\" referrerpolicy=\"no-referrer\"></p><p><h2>Higher returns in the first 10 trading days of the month</h2>In terms of short-term trading, monthly data since 1928 show that,<b>Market performance in the first 10 trading days of a single month tends to be stronger than in the last 10 trading days (except December).</b><img src=\"https://static.tigerbbs.com/2d0204fb5c8b49191b3a1d854be72a01\" tg-width=\"1097\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p><b>June and July are the months when the relevant rules are most obvious.</b>The average probability of rising in the first 10 trading days of June is 59%, with an average return of 0.71%, and the probability of rising in the last 10 trading days is 47%, with an average return of-0.01%. The probability of rising in the first 10 trading days of July is 68%, with an average return of 1.53%, and the probability of rising in the last 10 trading days is 59%, with an average return of-0.02%.<img src=\"https://static.tigerbbs.com/ea32f3689760a04aa567b8b1c2daaaa1\" tg-width=\"1094\" tg-height=\"827\" referrerpolicy=\"no-referrer\"></p><p><h2>U.S. stock rebound may continue</h2>Bank of America emphasized that the Bloomberg U.S. Financial Conditions Index is currently breaking through a new high, and this is precisely the leading indicator for the S&P 500 to break through a new high. This may suggest that the market will continue to rise.<img src=\"https://static.tigerbbs.com/9d72ba609108e876b7927dd14251dae4\" tg-width=\"1096\" tg-height=\"751\" referrerpolicy=\"no-referrer\">Bank of America predicts that if this indicator continues to rise, the S&P 500 index is expected to gain further upward momentum and move towards the 4,400-4,500-point range.<img src=\"https://static.tigerbbs.com/9c480d60762f6cae516e86860cf3bbbc\" tg-width=\"1112\" tg-height=\"749\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3632326\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/271cfa4439cda1437f20c9b60f7c187d","relate_stocks":{"BAC":"美国银行"},"source_url":"https://wallstreetcn.com/articles/3632326","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141823276","content_text":"目前市场对于美股是否“过度繁荣”的讨论非常热烈，有投资者担心美股或因美联储政策变化而出现大规模调整。\n美国银行试图从历史数据中寻找线索。该行统计显示，自1928年的月度数据表明传统“5月卖出”的股市谚语并不成立，美股大概率将经历夏季上涨行情。\n“5月卖出”的股市谚语并不成立\n美国银行表示，自1928年的月度数据显示，传统的“5月卖出”的策略并不成立，标普500指数大概率经历夏季上涨行情。\n从月份角度，5月回报率虽然为负但是绝佳的阶段性月度买点：6月的平均回报率约为0.77%；7月的平均回报率为1.58%，为全年最高；8月的回报率也相当不错，平均达到0.7%。\n9月才是全年表现最弱的月度，平均回报率为-1.03%。\n“总统行情”也确认美股夏季行情的规律。\n统计显示在美国新总统上任的第1年，美股的大规模反弹通常集中在7—8月：7月相关上涨概率达到65%，历史平均回报率达到2.28%。9-10月份则是相对疲弱的月份。\n\n跨月规律也显示夏季上涨规律\n在跨月角度，美国银行统计显示，6—8月是全年中表现第2好的3个月，相关上涨概率达到65%，平均回报率达到3.18%；1年中最弱的3个月是8月至10月，上涨概率为55%，但平均回报率仅为—0.03%\n\n而8月—10月则是全年中最弱的3个月，这意味着美股存在秋季回调的风险。\n单月中的头10个交易日回报率更高\n在短线交易方面，自1928年的月度数据显示，单月的前10个交易日市场表现往往比后10个交易日更强（12月除外）。\n6、7月份是相关规律显示最为明显的月份。6月前10个交易日平均上涨概率为59%，平均回报率为0.71%，后10个交易日上涨概率为47%，平均回报率为—0.01%。7月前10个交易日上涨概率为68%，平均回报率为1.53%，后10个交易日上涨概率59%，平均回报率为-0.02%。\n美股反弹或将继续延续\n美国银行强调，目前彭博美国金融状况指数突破新高，而这恰恰是标普500指突破新高的领先性指标。这或许暗示市场将继续上行。美国银行预测认为，如果该指标继续上行，标普500指数有望获得进一步上涨动能，向4400—4500点区间迈进。","news_type":1,"symbols_score_info":{"BAC":0.9}},"isVote":1,"tweetType":1,"viewCount":639,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185724740,"gmtCreate":1623674907480,"gmtModify":1704208334806,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Te","listText":"Te","text":"Te","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/185724740","repostId":"1100068311","repostType":4,"isVote":1,"tweetType":1,"viewCount":477,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188910212,"gmtCreate":1623419146536,"gmtModify":1704203133636,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"T","listText":"T","text":"T","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/188910212","repostId":"1105134625","repostType":4,"repost":{"id":"1105134625","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623140058,"share":"https://ttm.financial/m/news/1105134625?lang=en_US&edition=fundamental","pubTime":"2021-06-08 16:14","market":"us","language":"zh","title":"Reminder: The lunch break arrangement is here! Hong Kong stocks will be closed for one day on June 14","url":"https://stock-news.laohu8.com/highlight/detail?id=1105134625","media":"老虎资讯综合","summary":"6月14日（周一）休市，6月15日（周二）起照常开市。美股、英股、新加坡股市照常交易。端午节，又称端阳节、龙舟节、天中节等，源于自然天象崇拜，由上古时代祭龙演变而来。因传说战国时期的楚国诗人屈原在五月五日跳汨罗江自尽，后来人们亦将端午节作为纪念屈原的节日；也有纪念伍子胥、曹娥及介子推等说法。总的来说，端午节起源于上古先民择“飞龙在天”吉日拜祭龙祖、祈福辟邪，注入夏季时令“祛病防疫\"风尚。","content":"<p>As the Dragon Boat Festival, a traditional Chinese festival, approaches, the closing arrangements of major markets are as follows:<img src=\"https://static.tigerbbs.com/ad358d24b10a4ecf9c9fa183f3c2ab9b\" tg-width=\"779\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A shares:</b></p><p>The market will be closed on June 14th (Monday) and open as usual from June 15th (Tuesday).</p><p><b>Hong Kong stocks:</b></p><p>The market will be closed on June 14th (Monday) and open as usual from June 15th (Tuesday).</p><p><b>Australian stocks:</b></p><p>The market will be closed on Monday, June 14 for Queen's Birthday, and will be open as usual from Tuesday, June 15.</p><p><b>U.S. stocks, British stocks and Singapore stock markets traded as usual.</b></p><p><b>Shanghai Stock Connect and Shenzhen Stock Connect:</b></p><p>The service will not be available on June 14th (Monday), and will be open as usual from June 15th (Tuesday).</p><p><b>Hong Kong Stock Connect:</b></p><p>The service will not be available on June 14th (Monday), and will be open as usual from June 15th (Tuesday).</p><p><b>Background Introduction:</b></p><p>Dragon Boat Festival, also known as Duanyang Festival, Dragon Boat Festival, Tianzhong Festival, etc., originated from the worship of natural astronomical phenomena and evolved from worshipping dragons in ancient times. During the Dragon Boat Festival in midsummer, the seven stays of the black dragon soared into the middle of the south, and was in the most \"middle\" position of the whole year, that is, the fifth line of the Book of Changes Gan Gua said: \"The flying dragon is in the sky\". Its origin covers ancient astrological culture, humanistic philosophy and other aspects, and contains profound and rich cultural connotations. In the process of inheritance and development, a variety of folk customs are mixed into one, and the contents of festivals and customs are rich. Picking dragon boats and eating rice dumplings are the two major rituals and customs of the Dragon Boat Festival, which have been passed down in China since ancient times and have continued until now.</p><p>The Dragon Boat Festival was originally a festival founded by ancient ancestors to worship the dragon ancestors and pray for blessings and ward off evil spirits. Legend has it that Qu Yuan, a poet of Chu during the Warring States Period, committed suicide by jumping into Miluo River on May 5th. Later, people also took the Dragon Boat Festival as a festival to commemorate Qu Yuan. There are also sayings to commemorate Wu Zixu, Cao E and Jie Zitui. Generally speaking, the Dragon Boat Festival originated from the ancient ancestors who chose the auspicious day of \"flying dragon in the sky\" to worship the dragon ancestors, pray for blessings and ward off evil spirits, and injected the fashion of \"curing diseases and preventing epidemics\" in summer.<img src=\"https://static.tigerbbs.com/09ea6dbc4088c8bacb63a863e559c64b\" tg-width=\"640\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: The lunch break arrangement is here! Hong Kong stocks will be closed for one day on June 14</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\">\nReminder: The lunch break arrangement is here! Hong Kong stocks will be closed for one day on June 14\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-08 16:14</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>As the Dragon Boat Festival, a traditional Chinese festival, approaches, the closing arrangements of major markets are as follows:<img src=\"https://static.tigerbbs.com/ad358d24b10a4ecf9c9fa183f3c2ab9b\" tg-width=\"779\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A shares:</b></p><p>The market will be closed on June 14th (Monday) and open as usual from June 15th (Tuesday).</p><p><b>Hong Kong stocks:</b></p><p>The market will be closed on June 14th (Monday) and open as usual from June 15th (Tuesday).</p><p><b>Australian stocks:</b></p><p>The market will be closed on Monday, June 14 for Queen's Birthday, and will be open as usual from Tuesday, June 15.</p><p><b>U.S. stocks, British stocks and Singapore stock markets traded as usual.</b></p><p><b>Shanghai Stock Connect and Shenzhen Stock Connect:</b></p><p>The service will not be available on June 14th (Monday), and will be open as usual from June 15th (Tuesday).</p><p><b>Hong Kong Stock Connect:</b></p><p>The service will not be available on June 14th (Monday), and will be open as usual from June 15th (Tuesday).</p><p><b>Background Introduction:</b></p><p>Dragon Boat Festival, also known as Duanyang Festival, Dragon Boat Festival, Tianzhong Festival, etc., originated from the worship of natural astronomical phenomena and evolved from worshipping dragons in ancient times. During the Dragon Boat Festival in midsummer, the seven stays of the black dragon soared into the middle of the south, and was in the most \"middle\" position of the whole year, that is, the fifth line of the Book of Changes Gan Gua said: \"The flying dragon is in the sky\". Its origin covers ancient astrological culture, humanistic philosophy and other aspects, and contains profound and rich cultural connotations. In the process of inheritance and development, a variety of folk customs are mixed into one, and the contents of festivals and customs are rich. Picking dragon boats and eating rice dumplings are the two major rituals and customs of the Dragon Boat Festival, which have been passed down in China since ancient times and have continued until now.</p><p>The Dragon Boat Festival was originally a festival founded by ancient ancestors to worship the dragon ancestors and pray for blessings and ward off evil spirits. Legend has it that Qu Yuan, a poet of Chu during the Warring States Period, committed suicide by jumping into Miluo River on May 5th. Later, people also took the Dragon Boat Festival as a festival to commemorate Qu Yuan. There are also sayings to commemorate Wu Zixu, Cao E and Jie Zitui. Generally speaking, the Dragon Boat Festival originated from the ancient ancestors who chose the auspicious day of \"flying dragon in the sky\" to worship the dragon ancestors, pray for blessings and ward off evil spirits, and injected the fashion of \"curing diseases and preventing epidemics\" in summer.<img src=\"https://static.tigerbbs.com/09ea6dbc4088c8bacb63a863e559c64b\" tg-width=\"640\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/09ea6dbc4088c8bacb63a863e559c64b","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105134625","content_text":"临近中国传统节日端午节假期，各主要市场休市安排如下：A股：6月14日（周一）休市，6月15日（周二）起照常开市。港股：6月14日（周一）休市，6月15日（周二）起照常开市。澳股：6月14日（周一）因 Queen's Birthday 休市，6月15日（周二）起照常开市。美股、英股、新加坡股市照常交易。沪股通、深股通：6月14日（周一）不提供服务，6月15日（周二）起照常开通。港股通：6月14日（周一）不提供服务，6月15日（周二）起照常开通。背景介绍：端午节，又称端阳节、龙舟节、天中节等，源于自然天象崇拜，由上古时代祭龙演变而来。仲夏端午，苍龙七宿飞升于正南中天，处于全年最“正中”之位，即如《易经·乾卦》第五爻的爻辞曰：“飞龙在天”。其起源涵盖了古老星象文化、人文哲学等方面内容，蕴含着深邃丰厚的文化内涵，在传承发展中杂糅了多种民俗为一体，节俗内容丰富。扒龙舟与食粽是端午节的两大礼俗，这两大礼俗在中国自古传承，至今不辍。端午节，本是上古先民创立用于拜祭龙祖、祈福辟邪的节日。因传说战国时期的楚国诗人屈原在五月五日跳汨罗江自尽，后来人们亦将端午节作为纪念屈原的节日；也有纪念伍子胥、曹娥及介子推等说法。总的来说，端午节起源于上古先民择“飞龙在天”吉日拜祭龙祖、祈福辟邪，注入夏季时令“祛病防疫\"风尚。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":977,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180087151,"gmtCreate":1623164606273,"gmtModify":1704197526380,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"y","listText":"y","text":"y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/180087151","repostId":"2141264113","repostType":4,"repost":{"id":"2141264113","kind":"highlight","pubTimestamp":1623164284,"share":"https://ttm.financial/m/news/2141264113?lang=en_US&edition=fundamental","pubTime":"2021-06-08 22:58","market":"us","language":"zh","title":"$3 trillion next year! This \"big head\" has set a \"small goal\" for Apple","url":"https://stock-news.laohu8.com/highlight/detail?id=2141264113","media":"华尔街见闻","summary":"虽然今年迄今苹果公司股价已经累计下跌5%，但华尔街券商Wedbush分析师Dan Ives看好苹果公司股价，认为2022年苹果公司市值将达到3万亿美元。\n自2018年跨过1万亿美元市值，2020年跨过","content":"<p>Although so far this year<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company's stock price has fallen by 5%, but Dan Ives, an analyst at Wall Street brokerage Wedbush, is optimistic about Apple's stock price and believes that Apple's market value will reach US $3 trillion in 2022.</p><p>Since exceeding a market value of US $1 trillion in 2018 and US $2 trillion in 2020, Apple's current market value has reached US $2.1 trillion, ranking the highest in the world. However, Ives believes that Apple's market value will also cross the third milestone-$3 trillion. \"We think Apple will achieve this goal in the next 12 to 18 months.\"</p><p>Judging from Apple's innovation and its super cycle in service business, I think this is just the next growth stage, Ives said.</p><p>Apple's stock price is currently trading around $125, but in late April, Ives raised Apple's target price from $175 to $185 per share and maintained an outperform rating.</p><p>He believes that Apple's current software service business valuation is about US $1 trillion, and is expected to rise to US $1.5 trillion. Thanks to the moat of Apple's ecosystem, this will boost Apple's total market value to US $3 trillion.</p><p>At the annual Apple Worldwide Developers Conference (WWDC) that started on Monday, Apple launched its new mobile operating system iOS 15, and is expected to release a new iPhone later this year, and Apple cars are also in the research and development center.</p><p>Ives said that Apple is now laying the foundation for the next stage of growth, where software and services play an important role.</p><p>However, achieving the \"small goal\" of $3 trillion will not be achieved overnight, and there are several potential risks, including the dispute between Apple and Epic Games. Last year, Apple removed Epic Games' popular game \"Fortnite\" from the App Store because it violated App Store guidelines and violated in-app payment rules. Epic Games then sued Apple, saying that Apple violated competition terms by removing its game \"Fortnite\" App from the shelves. Last month, Apple CEO Cook had to appear in court to face severe questioning.</p><p>Antitrust pressure is another factor hindering the growth of Apple's market value. Ives points to increasing regulatory scrutiny around the world. The European Commission said in April that Apple \"abused its dominant position\" in distributing music streaming apps through its app store.</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>$3 trillion next year! This \"big head\" has set a \"small goal\" for Apple</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\">\n$3 trillion next year! This \"big head\" has set a \"small goal\" for Apple\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-08 22:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Although so far this year<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company's stock price has fallen by 5%, but Dan Ives, an analyst at Wall Street brokerage Wedbush, is optimistic about Apple's stock price and believes that Apple's market value will reach US $3 trillion in 2022.</p><p>Since exceeding a market value of US $1 trillion in 2018 and US $2 trillion in 2020, Apple's current market value has reached US $2.1 trillion, ranking the highest in the world. However, Ives believes that Apple's market value will also cross the third milestone-$3 trillion. \"We think Apple will achieve this goal in the next 12 to 18 months.\"</p><p>Judging from Apple's innovation and its super cycle in service business, I think this is just the next growth stage, Ives said.</p><p>Apple's stock price is currently trading around $125, but in late April, Ives raised Apple's target price from $175 to $185 per share and maintained an outperform rating.</p><p>He believes that Apple's current software service business valuation is about US $1 trillion, and is expected to rise to US $1.5 trillion. Thanks to the moat of Apple's ecosystem, this will boost Apple's total market value to US $3 trillion.</p><p>At the annual Apple Worldwide Developers Conference (WWDC) that started on Monday, Apple launched its new mobile operating system iOS 15, and is expected to release a new iPhone later this year, and Apple cars are also in the research and development center.</p><p>Ives said that Apple is now laying the foundation for the next stage of growth, where software and services play an important role.</p><p>However, achieving the \"small goal\" of $3 trillion will not be achieved overnight, and there are several potential risks, including the dispute between Apple and Epic Games. Last year, Apple removed Epic Games' popular game \"Fortnite\" from the App Store because it violated App Store guidelines and violated in-app payment rules. Epic Games then sued Apple, saying that Apple violated competition terms by removing its game \"Fortnite\" App from the shelves. Last month, Apple CEO Cook had to appear in court to face severe questioning.</p><p>Antitrust pressure is another factor hindering the growth of Apple's market value. Ives points to increasing regulatory scrutiny around the world. The European Commission said in April that Apple \"abused its dominant position\" in distributing music streaming apps through its app store.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3632470\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fd680cd945fd32917c8ece66ec685e5f","relate_stocks":{"AAPL":"苹果"},"source_url":"https://wallstreetcn.com/articles/3632470","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141264113","content_text":"虽然今年迄今苹果公司股价已经累计下跌5%，但华尔街券商Wedbush分析师Dan Ives看好苹果公司股价，认为2022年苹果公司市值将达到3万亿美元。\n自2018年跨过1万亿美元市值，2020年跨过2万亿美元市值之后，苹果公司目前市值达到2.1万亿美元，傲居全球最高。不过Ives认为，苹果市值还将跨过第三个里程碑——3万亿美元，“我们认为苹果将在未来12至18个月内达成该目标”。\n从苹果的创新、其在服务业务上所处的超级周期来看，我认为这只是下一个增长阶段而已，Ives说。\n目前苹果股价交投于125美元左右，但4月下旬，Ives就将苹果的目标价格从每股175美元提高到185美元，并维持跑赢大盘评级。\n他认为，苹果目前的软件服务业务估值大约在1万亿美元，并有望升至1.5万亿美元，得益于苹果生态的护城河，这将助推苹果总市值达到3万亿美元。\n在周一开始的一年一度苹果全球开发者大会（WWDC）上，苹果新发手机操作系统iOS 15，并预计今年稍晚将发售新的iPhone，且苹果汽车也在研发中心。\nIves表示，苹果当下正在为下一阶段的增长打下基础，在这个阶段，软件和服务发挥着重要作用。\n但要达成3万亿美元“小目标”并非一蹴而就，存在几个潜在风险，其中就包括苹果与Epic Games的纷争。去年苹果将Epic Games旗下热门游戏《堡垒之夜》从App Store中下架，因其违反了应用商店的指引，违反了应用内支付规则。随后Epic Games 起诉苹果，称苹果将其游戏《堡垒之夜》App下架违反竞争条款。上月，苹果CEO库克不得不出庭面临严厉质询。\n反垄断压力也是阻碍苹果市值增长的又一因素。Ives指出，世界各地的监管审查越来越严格。欧盟委员会在4月表示，苹果在通过其应用程序商店分发音乐流媒体应用程序方面 \"滥用了其主导地位\"。","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115280384,"gmtCreate":1623000510648,"gmtModify":1704194211569,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"D","listText":"D","text":"D","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/115280384","repostId":"2141289311","repostType":4,"repost":{"id":"2141289311","kind":"highlight","pubTimestamp":1622984559,"share":"https://ttm.financial/m/news/2141289311?lang=en_US&edition=fundamental","pubTime":"2021-06-06 21:02","market":"hk","language":"zh","title":"One picture to understand Nayuki's tea IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=2141289311","media":"格隆汇","summary":"奈雪的茶6月6日通过港交所上市聆讯","content":"<p>According to Hong Kong Stock Exchange documents, Nayuki's tea passed the Hong Kong Stock Exchange listing hearing on June 6.<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>CMB International and Huatai International are joint sponsors. Let's understand the basic situation of Nayuki through a picture.</p><p><img src=\"https://img3.gelonghui.com/bb90c-5092c731-5ebf-4e04-8209-94e0ea4dedad.jpg\" tg-width=\"1241\" tg-height=\"14356\" referrerpolicy=\"no-referrer\"></p>","source":"gelonghui_highlight","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>One picture to understand Nayuki's tea IPO</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\">\nOne picture to understand Nayuki's tea IPO\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">格隆汇</strong><span class=\"h-time small\">2021-06-06 21:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to Hong Kong Stock Exchange documents, Nayuki's tea passed the Hong Kong Stock Exchange listing hearing on June 6.<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>CMB International and Huatai International are joint sponsors. Let's understand the basic situation of Nayuki through a picture.</p><p><img src=\"https://img3.gelonghui.com/bb90c-5092c731-5ebf-4e04-8209-94e0ea4dedad.jpg\" tg-width=\"1241\" tg-height=\"14356\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.gelonghui.com/p/468995\">格隆汇</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a8caeb63df9cee101ea6627464adb251","relate_stocks":{},"source_url":"http://www.gelonghui.com/p/468995","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2141289311","content_text":"据港交所文件显示，奈雪的茶6月6日通过港交所上市聆讯，摩根大通、招银国际、华泰国际为联席保荐人。下面让我们通过一图来看懂奈雪的基本情况。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":638,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118252004,"gmtCreate":1622734915408,"gmtModify":1704190184383,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Jy","listText":"Jy","text":"Jy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/118252004","repostId":"1112529009","repostType":4,"repost":{"id":"1112529009","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622730655,"share":"https://ttm.financial/m/news/1112529009?lang=en_US&edition=fundamental","pubTime":"2021-06-03 22:30","market":"us","language":"zh","title":"Chinese concept education stocks fell collectively, and New Oriental's stock price once plunged by more than 20%","url":"https://stock-news.laohu8.com/highlight/detail?id=1112529009","media":"老虎资讯综合","summary":"周四美股盘中，中概教育股集体下跌，新东方股价盘中一度跳水，现跌超15%。同时，好未来跌超13%，高途跌超11%，网网易有道跌超4%。","content":"<p>In the U.S. stock market on Thursday, Chinese concept education stocks fell collectively.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>The stock price once plunged during the session and is now down more than 15%. At the same time,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell more than 13%,<a href=\"https://laohu8.com/S/GOTU\">High Road</a>It fell more than 11%, and NetEase Youdao fell more than 4%.</p><p><img src=\"https://static.tigerbbs.com/bf1342cdd778fecbfa1ee221254fd6cc\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese concept education stocks fell collectively, and New Oriental's stock price once plunged by more than 20%</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\">\nChinese concept education stocks fell collectively, and New Oriental's stock price once plunged by more than 20%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-03 22:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>In the U.S. stock market on Thursday, Chinese concept education stocks fell collectively.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>The stock price once plunged during the session and is now down more than 15%. At the same time,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell more than 13%,<a href=\"https://laohu8.com/S/GOTU\">High Road</a>It fell more than 11%, and NetEase Youdao fell more than 4%.</p><p><img src=\"https://static.tigerbbs.com/bf1342cdd778fecbfa1ee221254fd6cc\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/01a671cf129d3f10de6e09ec0c46d949","relate_stocks":{"TAL":"好未来","DAO":"有道","GOTU":"高途","EDU":"新东方"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112529009","content_text":"周四美股盘中，中概教育股集体下跌，新东方股价盘中一度跳水，现跌超15%。同时，好未来跌超13%，高途跌超11%，网网易有道跌超4%。","news_type":1,"symbols_score_info":{"EDU":0.9,"TAL":0.9,"DAO":0.9,"GOTU":0.9}},"isVote":1,"tweetType":1,"viewCount":607,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806224386,"gmtCreate":1627659405845,"gmtModify":1703494371306,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/806224386","repostId":"1198370900","repostType":4,"repost":{"id":"1198370900","kind":"news","weMediaInfo":{"introduction":"凤凰网港股官方账号，专注让专业更简单","home_visible":1,"media_name":"凤凰网港股","id":"56","head_image":"https://community-static.tradeup.com/news/63f98f2e899d607a12011e4ecf9c0ac7"},"pubTimestamp":1627658786,"share":"https://ttm.financial/m/news/1198370900?lang=en_US&edition=fundamental","pubTime":"2021-07-30 23:26","market":"sh","language":"zh","title":"Behind \"buying a house by ticket\", is the big change in the property market really coming?","url":"https://stock-news.laohu8.com/highlight/detail?id=1198370900","media":"凤凰网港股","summary":"2021年春节过后，原本平静的武汉楼市突然躁动起来。\n短短两个月的时间里，武汉光谷关山大道的中建大公馆、金地格林东郡、泛悦城等楼盘，从2万元/平方米左右的价格，涨到了3、4万元/平方米。\n而房价飞涨的","content":"<p><b>After the Spring Festival in 2021, the originally calm Wuhan property market suddenly became restless.</b></p><p>In just two months, the price of China Construction Mansion, Gemdale Green East County, Fanyue City and other real estate projects on Guanshan Avenue, Guanggu, Wuhan has risen from about 20,000 yuan/square meter to 30,000 to 40,000 yuan/square meter.</p><p>Behind the soaring house prices, investors from Shenzhen, Xuzhou, Zaozhuang and other places are crazy about \"real estate speculation\" by taking advantage of Wuhan's relatively loose settlement policy and purchase restriction policy.</p><p>At that time, the locals in Wuhan who suffered greatly told the media: \"I hate these foreign real estate speculators. When can the government strictly restrict purchases?\"</p><p>The people of Wuhan didn't wait long. Three months later, on July 28th, Wuhan Housing Authority issued a draft for comments on strengthening the management of house purchase qualifications. After the release of the opinion draft, the topic of \"Wuhan will implement buying a house by house ticket\" quickly caused heated discussion on the Internet.</p><p>Is Wuhan going to enter the era of \"buying a house with a house ticket\"? Some people support this news, some question it, and others worry that \"real estate speculation\" will become \"real estate speculation tickets\".</p><p>However, no matter how you interpret it, the signal of \"tightening\" of the property market released by Wuhan is clear. In fact, Wuhan is not the only city that is \"tightening\" the property market policy.</p><p>Ifeng.com's \"Eye of the Storm\" found that since 2021, local governments including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, etc. have issued stricter regulatory policies for the real estate market.</p><p>With the off-campus education and training industry ushering in subversive changes, many people can't help but ask:<b>Is the great change of China's property market coming?</b></p><p>Bai Wenxi, vice chairman of China Enterprise Capital Alliance and chief economist of IPG China, told Phoenix.com's Eye of the Storm: \"These policies will increase and enhance the difficulty and cost of buying houses for investment demand in the short term, thus curbing the overheating of the property market to a certain extent. However, in the long run, if the actual market supply and demand relationship does not change, and the population, land and financial policies that affect housing prices do not change greatly, it will be difficult to have a substantial impact on housing prices.\"</p><p><img src=\"https://static.tigerbbs.com/93c9284d07634672a560d0f50a2e3314\" tg-width=\"1080\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p><p><b>01. What exactly is \"buying a house by ticket\" in Wuhan?</b></p><p>What are the stipulations of Wuhan's policy of \"buying a house with a house ticket\", which has caused heated discussion on the Internet?</p><p>On July 28th, in order to adhere to the positioning of \"housing for living, not speculation\" and further strengthen the management of housing purchase qualifications in Wuhan, Wuhan Housing Authority issued the Notice of the Municipal Housing Security Housing Authority on Strengthening the Management of Housing Purchase Qualifications (Draft for Comment), and publicly solicited opinions.</p><p><img src=\"https://static.tigerbbs.com/8db8d8c23e8cca1ee4ca8d5d15731bf9\" tg-width=\"1007\" tg-height=\"537\" referrerpolicy=\"no-referrer\"></p><p>According to the opinion draft, in the application for house purchase qualification, intended buyers who meet the purchase restriction area can apply for house purchase qualification through the official platform or through developers and intermediaries.</p><p>The housing management departments of each district shall complete the purchase qualification accreditation within 48 hours from the time of application, and feed back the accreditation results to the applicant. The purchase qualification accreditation results will be valid within 60 days from the date of issuance.</p><p>The \"Draft for Comment\" also requires that after the house purchase registration is completed, the result of the house purchase qualification certification will be locked immediately, and the house purchase registration shall not be carried out again during the lock-up period. After the opening of the sale, the qualification result of house purchase will be automatically unlocked.</p><p>Bai Wenxi told Phoenix.com's \"Eye of the Storm\": \"The related idea of 'buying a house by ticket' in Wuhan is still in the stage of soliciting opinions. This is a proposed system design to strengthen the control of the property market and based on the qualification access of buyers.\"</p><p>Then, what impact will the policy of \"buying a house with a house ticket\" have on the property market in Wuhan?</p><p>Zhuge Housing Data Research Center told Phoenix.com's \"Eye of the Storm\": \"The policy of buying a house by ticket is a new patch policy of the previous policy, and it is also a supplement and improvement to the purchase restriction policy. To a certain extent, it can curb market chaos, play a positive role in regulating real estate market transactions, effectively crack down on some developers who create false hot sales scenes, and to a certain extent, it can curb real estate speculation.\"</p><p>Zhu Xiaohong, president of China Luxury Housing Research Institute, told Phoenix.com's Eye of the Storm: \"Buying a house by ticket is similar to housing intervention in Hong Kong and South Korea. It is good to crack down on real estate speculation and control excessive consumption of housing products, but to prevent'personal gain with room tickets'and'buying and selling room tickets', we must ensure that room tickets are given to the right person.\"</p><p>Bai Wenxi also expressed similar concerns. He said: \"On the surface, room tickets will control demand and crack down on real estate speculation, but in fact they are done by suppressing demand and not increasing supply. If they are not used properly, they may aggravate the contradiction between supply and demand, lead to power corruption, and aggravate all kinds of disguised real estate speculation and underground real estate speculation.\"</p><p><b>02. Local governments have intensively introduced policies, and the signal of \"tightening\" is obvious</b></p><p>In fact, Wuhan's policy adjustment on house purchase qualifications may have started as early as 2020.</p><p>In January last year, Wuhan implemented the whole process of commercial housing qualification verification online. Intended buyers can apply for qualification through official website of Wuhan Housing Authority and inquire about the results. If they pass the examination, they can get the examination information such as number and QR code. This information is valid for purchasing a house within 60 days, and they need to re-apply after expiration.</p><p>It can be seen that as early as 2020, Wuhan City has set up the prototype of the mechanism of \"buying a house with a house ticket\". The draft for comments this time is also a supplement and improvement to the first customs policy.</p><p>In addition to Wuhan, first-tier cities such as Beishangguangshen and Shenzhen, second-and third-tier cities such as Jiaxing, Foshan and Wuxi, and central departments such as the Ministry of Housing and Urban-Rural Development have also successively issued a series of policies to strengthen supervision of the real estate market.</p><p>On January 5, in an interview with the media, Wang Menghui, Minister of Housing and Urban-Rural Development, reiterated the policy principles of adhering to housing for living, not speculation, and implementing the long-term mechanism of real estate, saying that housing for living, not speculation, will remain the main tone of the policy in 2021. At the same time, the long-term mechanism continues to implement and improve signals.</p><p>For example, Shanghai also explicitly continued to implement the pilot project of property tax in January. At the same time, Shanghai also aims at the phenomenon of \"fake divorce, real house purchase\", stipulating that if a husband and wife divorce, if either party purchases commercial housing within 3 years from the date of divorce, the number of housing units owned by the husband and wife shall be calculated according to the total number of households before divorce. Adjust the value-added tax collection and exemption period. Increase the value-added tax exemption period for personal sales of housing from 2 years to 5 years.</p><p>In March, Xi'an also issued a new purchase restriction policy, stipulating that if a house buyer defrauds or evades the purchase restriction policy through \"holding on behalf of others\", he/she and the \"holding on behalf of others\" will be included in the list of untrustworthy buyers in our city, and will not be allowed to buy a house within 5 years</p><p>In June, the Ministry of Finance, the Ministry of Natural Resources, the State Administration of Taxation, and the People's Bank of China jointly issued a notice that four government non-tax revenues, including the income from the transfer of state-owned land use rights, would be transferred to the tax authorities for collection, which once caused heated discussion.</p><p>On July 23rd, eight departments, including the Ministry of Housing and Urban-Rural Development, the National Development and Reform Commission and the Ministry of Public Security, jointly issued a notice on continuously rectifying and standardizing the order of the real estate market, which comprehensively regulated the order of the real estate market from four aspects: real estate development, housing sales, housing leasing and property services.</p><p>On July 30, the China Banking and Insurance Regulatory Commission held a system-wide 2021 mid-year work symposium and discipline inspection and supervision work (video and telephone) symposium. The meeting stressed that it is necessary to strictly implement the requirements of \"three lines and four grades\" and the concentration of real estate loans, so as to prevent bancassurance funds from bypassing and illegally flowing into the real estate market.</p><p>According to the incomplete statistics of Phoenix.com's Eye of the Storm, since January this year, local governments and relevant central departments have issued more than 40 regulatory and regulatory policies for the real estate market and its derivative services. The number and density are relatively rare in recent years.</p><p>Bai Wenxi told Phoenix.com's \"Eye of the Storm\": \"At present, there are three reasons for the adjustment of real estate policies: the first is to prevent financial risks caused by real estate; Second, it is necessary to reduce the total cost of economic operation represented by real estate under the internal circulation mode; Third, it is necessary to reduce the pressure of living costs to increase fertility willingness and maintain sustainable population development.\"</p><p><img src=\"https://static.tigerbbs.com/8a08ad922ffa471f7aea8f0400a29bb4\" tg-width=\"1080\" tg-height=\"1230\" referrerpolicy=\"no-referrer\"></p><p><b>03. Real estate companies \"no longer in the limelight\" and their stock prices sharply pullback/retracement</b></p><p>Policy changes have also directly affected listed companies in the real estate industry.</p><p>Benefiting from the rapid development of China's real estate market in recent years, a large number of giant real estate listed companies have been born in China, and real estate companies were once regarded as a symbol of \"not short of money\".</p><p>Wanda Chairman Wang Jianlin, who has passed away<a href=\"https://laohu8.com/S/BEKE\">Shells</a>Chairman Zuo Hui and other real estate tycoons have all ascended to the throne of \"the richest man\".</p><p>However, with the state beginning to regulate the \"overheated\" real estate market and the introduction of a series of strict regulatory policies, these listed real estate companies have also encountered the problem of \"turning around in a catastrophe\", and problems such as capital chain breakage, income decline, stock price decline and high debt also followed.</p><p>In August last year, the Ministry of Housing and Urban-Rural Development and the People's Bank of China held a symposium on key real estate enterprises in Beijing, which clarified the fund monitoring and financing management rules of key real estate enterprises, which is the \"three red lines\" that have been rumored many times in the industry before.</p><p>According to incomplete statistics from Phoenix.com's \"Eye of the Storm\", among the 40 leading real estate companies listed on Hong Kong stocks and A-shares, more than half of the companies' stock prices are more than 30% away from the highest pullback/retracement within 52 weeks.</p><p><img src=\"https://static.tigerbbs.com/face4ce6faa97c257718c9108ee3c3b8\" tg-width=\"1080\" tg-height=\"1003\" referrerpolicy=\"no-referrer\"></p><p>In fact, during the collective \"big dive\" of A-shares on Monday and Tuesday this week, due to concerns about the policy supervision of the real estate market, A-share real estate stocks also collectively fell sharply.<a href=\"https://laohu8.com/S/000718\">Suning Global</a>、<a href=\"https://laohu8.com/S/600773\">Tibet City Investment</a>It once fell more than 10%.</p><p><img src=\"https://static.tigerbbs.com/0dfca5e8a01f143057cf5d1f41a95b53\" tg-width=\"324\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>04. Is the big change in the property market coming?</b></p><p>Wuhan's policy of \"buying a house with a house ticket\" also reminds many people of \"food stamps\" and \"meat stamps\" in the planned economy era. So, does \"buying a house with a house ticket\" really mean returning to the era of planned economy? Will it trigger other cities to follow up?</p><p><img src=\"https://static.tigerbbs.com/cb31adddcc3e0bf4814fad90b355b71b\" tg-width=\"1080\" tg-height=\"219\" referrerpolicy=\"no-referrer\"></p><p>Bai Wenxi said that it has been nearly 30 years since China bid farewell to the ticket era, and the launch of Wuhan's \"room ticket\" has touched and evoked people's memories of the era of insufficient supply and tickets everywhere in the planned economy era. As one of the industries with the highest public attention, the \"room ticket\" incident in Wuhan, which is still brewing, will most likely be pushed to the \"hot search\".</p><p>Bai Wenxi believes that the room ticket itself is based on the system design of compressing demand by access control, and then changing the relationship between supply and demand in the property market to prevent the property market from overheating. However, the logical regulation of the property market needs to start from both ends of supply and demand. While limiting and suppressing demand with quantitative tools and price tools, it is also necessary to balance the relationship between supply and demand by increasing market supply.</p><p>\"Therefore, if we really want to stabilize the supply and demand relationship in the property market, we should try our best to reduce and eliminate all kinds of control measures at both ends of supply and demand, guide the allocation of resources and factors and reconstruct the supply and demand relationship with the price mechanism, let alone restore the tickets of the planned economy era.\" Bai Wenxi told Phoenix.com's \"Eye of the Storm\".</p><p><img src=\"https://static.tigerbbs.com/b5109cefd2de75f41c0a1a0f3da6acbb\" tg-width=\"720\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p>Whether it's the policy of \"buying a house with a house ticket\" introduced by Wuhan this time, a series of regulatory policies on the real estate market introduced by local governments this year, or the rumored \"real estate tax\" to be introduced soon, do these mean that China's property market will usher in a big change?</p><p>Zhuge Housing Search Data Research Center told Phoenix.com's Eye of the Storm: \"The introduction of real estate tax may usher in another reshuffle of the real estate market.\"</p><p>\"From the current real estate policy adjustment, it is the main tone of China's real estate market to insist on living in housing without speculation. Under this principle, first of all, it is necessary to curb the excessive rise of house prices through policy regulation and promote the market to gradually return to the rational stage; Secondly, constantly improve and standardize the real estate market system, crack down on some behaviors of speculating on house prices and exploiting policy loopholes in time, and promote the healthy development of the real estate market; Third, tilt limited resources to groups in just-needed needs to provide home buyers with a more stable real estate environment. \"</p><p>Zhuge Housing Data Research Center believes that with the introduction of these policies, the interests of the real just-needed groups have been guaranteed, and the mentality of buying houses has gradually become rational, which has played a certain role in inhibiting the excessive rise of house prices. In the long run, after strict policy regulation, housing prices in first-tier cities will tend to run smoothly.</p><p>Bai Wenxi believes that if the property tax is really introduced soon, it does mean that the real estate market will usher in a major change, but in fact, the real estate tax has not been submitted for deliberation according to the legislative procedure, and it will not be introduced soon, and there is no timetable.</p><p>Bai Wenxi said that if these policies do not start with expanding the supply side, but only take measures such as quantitative tools to control demand-side access, such as room tickets, and price tools to control demand-side, such as mortgage ratio and interest rate, the result may just raise the soup and stop boiling, or even rise more and more.</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>Behind \"buying a house by ticket\", is the big change in the property market really coming?</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\">\nBehind \"buying a house by ticket\", is the big change in the property market really coming?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/56\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/63f98f2e899d607a12011e4ecf9c0ac7);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">凤凰网港股 </p>\n<p class=\"h-time smaller\">2021-07-30 23:26</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>After the Spring Festival in 2021, the originally calm Wuhan property market suddenly became restless.</b></p><p>In just two months, the price of China Construction Mansion, Gemdale Green East County, Fanyue City and other real estate projects on Guanshan Avenue, Guanggu, Wuhan has risen from about 20,000 yuan/square meter to 30,000 to 40,000 yuan/square meter.</p><p>Behind the soaring house prices, investors from Shenzhen, Xuzhou, Zaozhuang and other places are crazy about \"real estate speculation\" by taking advantage of Wuhan's relatively loose settlement policy and purchase restriction policy.</p><p>At that time, the locals in Wuhan who suffered greatly told the media: \"I hate these foreign real estate speculators. When can the government strictly restrict purchases?\"</p><p>The people of Wuhan didn't wait long. Three months later, on July 28th, Wuhan Housing Authority issued a draft for comments on strengthening the management of house purchase qualifications. After the release of the opinion draft, the topic of \"Wuhan will implement buying a house by house ticket\" quickly caused heated discussion on the Internet.</p><p>Is Wuhan going to enter the era of \"buying a house with a house ticket\"? Some people support this news, some question it, and others worry that \"real estate speculation\" will become \"real estate speculation tickets\".</p><p>However, no matter how you interpret it, the signal of \"tightening\" of the property market released by Wuhan is clear. In fact, Wuhan is not the only city that is \"tightening\" the property market policy.</p><p>Ifeng.com's \"Eye of the Storm\" found that since 2021, local governments including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, etc. have issued stricter regulatory policies for the real estate market.</p><p>With the off-campus education and training industry ushering in subversive changes, many people can't help but ask:<b>Is the great change of China's property market coming?</b></p><p>Bai Wenxi, vice chairman of China Enterprise Capital Alliance and chief economist of IPG China, told Phoenix.com's Eye of the Storm: \"These policies will increase and enhance the difficulty and cost of buying houses for investment demand in the short term, thus curbing the overheating of the property market to a certain extent. However, in the long run, if the actual market supply and demand relationship does not change, and the population, land and financial policies that affect housing prices do not change greatly, it will be difficult to have a substantial impact on housing prices.\"</p><p><img src=\"https://static.tigerbbs.com/93c9284d07634672a560d0f50a2e3314\" tg-width=\"1080\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p><p><b>01. What exactly is \"buying a house by ticket\" in Wuhan?</b></p><p>What are the stipulations of Wuhan's policy of \"buying a house with a house ticket\", which has caused heated discussion on the Internet?</p><p>On July 28th, in order to adhere to the positioning of \"housing for living, not speculation\" and further strengthen the management of housing purchase qualifications in Wuhan, Wuhan Housing Authority issued the Notice of the Municipal Housing Security Housing Authority on Strengthening the Management of Housing Purchase Qualifications (Draft for Comment), and publicly solicited opinions.</p><p><img src=\"https://static.tigerbbs.com/8db8d8c23e8cca1ee4ca8d5d15731bf9\" tg-width=\"1007\" tg-height=\"537\" referrerpolicy=\"no-referrer\"></p><p>According to the opinion draft, in the application for house purchase qualification, intended buyers who meet the purchase restriction area can apply for house purchase qualification through the official platform or through developers and intermediaries.</p><p>The housing management departments of each district shall complete the purchase qualification accreditation within 48 hours from the time of application, and feed back the accreditation results to the applicant. The purchase qualification accreditation results will be valid within 60 days from the date of issuance.</p><p>The \"Draft for Comment\" also requires that after the house purchase registration is completed, the result of the house purchase qualification certification will be locked immediately, and the house purchase registration shall not be carried out again during the lock-up period. After the opening of the sale, the qualification result of house purchase will be automatically unlocked.</p><p>Bai Wenxi told Phoenix.com's \"Eye of the Storm\": \"The related idea of 'buying a house by ticket' in Wuhan is still in the stage of soliciting opinions. This is a proposed system design to strengthen the control of the property market and based on the qualification access of buyers.\"</p><p>Then, what impact will the policy of \"buying a house with a house ticket\" have on the property market in Wuhan?</p><p>Zhuge Housing Data Research Center told Phoenix.com's \"Eye of the Storm\": \"The policy of buying a house by ticket is a new patch policy of the previous policy, and it is also a supplement and improvement to the purchase restriction policy. To a certain extent, it can curb market chaos, play a positive role in regulating real estate market transactions, effectively crack down on some developers who create false hot sales scenes, and to a certain extent, it can curb real estate speculation.\"</p><p>Zhu Xiaohong, president of China Luxury Housing Research Institute, told Phoenix.com's Eye of the Storm: \"Buying a house by ticket is similar to housing intervention in Hong Kong and South Korea. It is good to crack down on real estate speculation and control excessive consumption of housing products, but to prevent'personal gain with room tickets'and'buying and selling room tickets', we must ensure that room tickets are given to the right person.\"</p><p>Bai Wenxi also expressed similar concerns. He said: \"On the surface, room tickets will control demand and crack down on real estate speculation, but in fact they are done by suppressing demand and not increasing supply. If they are not used properly, they may aggravate the contradiction between supply and demand, lead to power corruption, and aggravate all kinds of disguised real estate speculation and underground real estate speculation.\"</p><p><b>02. Local governments have intensively introduced policies, and the signal of \"tightening\" is obvious</b></p><p>In fact, Wuhan's policy adjustment on house purchase qualifications may have started as early as 2020.</p><p>In January last year, Wuhan implemented the whole process of commercial housing qualification verification online. Intended buyers can apply for qualification through official website of Wuhan Housing Authority and inquire about the results. If they pass the examination, they can get the examination information such as number and QR code. This information is valid for purchasing a house within 60 days, and they need to re-apply after expiration.</p><p>It can be seen that as early as 2020, Wuhan City has set up the prototype of the mechanism of \"buying a house with a house ticket\". The draft for comments this time is also a supplement and improvement to the first customs policy.</p><p>In addition to Wuhan, first-tier cities such as Beishangguangshen and Shenzhen, second-and third-tier cities such as Jiaxing, Foshan and Wuxi, and central departments such as the Ministry of Housing and Urban-Rural Development have also successively issued a series of policies to strengthen supervision of the real estate market.</p><p>On January 5, in an interview with the media, Wang Menghui, Minister of Housing and Urban-Rural Development, reiterated the policy principles of adhering to housing for living, not speculation, and implementing the long-term mechanism of real estate, saying that housing for living, not speculation, will remain the main tone of the policy in 2021. At the same time, the long-term mechanism continues to implement and improve signals.</p><p>For example, Shanghai also explicitly continued to implement the pilot project of property tax in January. At the same time, Shanghai also aims at the phenomenon of \"fake divorce, real house purchase\", stipulating that if a husband and wife divorce, if either party purchases commercial housing within 3 years from the date of divorce, the number of housing units owned by the husband and wife shall be calculated according to the total number of households before divorce. Adjust the value-added tax collection and exemption period. Increase the value-added tax exemption period for personal sales of housing from 2 years to 5 years.</p><p>In March, Xi'an also issued a new purchase restriction policy, stipulating that if a house buyer defrauds or evades the purchase restriction policy through \"holding on behalf of others\", he/she and the \"holding on behalf of others\" will be included in the list of untrustworthy buyers in our city, and will not be allowed to buy a house within 5 years</p><p>In June, the Ministry of Finance, the Ministry of Natural Resources, the State Administration of Taxation, and the People's Bank of China jointly issued a notice that four government non-tax revenues, including the income from the transfer of state-owned land use rights, would be transferred to the tax authorities for collection, which once caused heated discussion.</p><p>On July 23rd, eight departments, including the Ministry of Housing and Urban-Rural Development, the National Development and Reform Commission and the Ministry of Public Security, jointly issued a notice on continuously rectifying and standardizing the order of the real estate market, which comprehensively regulated the order of the real estate market from four aspects: real estate development, housing sales, housing leasing and property services.</p><p>On July 30, the China Banking and Insurance Regulatory Commission held a system-wide 2021 mid-year work symposium and discipline inspection and supervision work (video and telephone) symposium. The meeting stressed that it is necessary to strictly implement the requirements of \"three lines and four grades\" and the concentration of real estate loans, so as to prevent bancassurance funds from bypassing and illegally flowing into the real estate market.</p><p>According to the incomplete statistics of Phoenix.com's Eye of the Storm, since January this year, local governments and relevant central departments have issued more than 40 regulatory and regulatory policies for the real estate market and its derivative services. The number and density are relatively rare in recent years.</p><p>Bai Wenxi told Phoenix.com's \"Eye of the Storm\": \"At present, there are three reasons for the adjustment of real estate policies: the first is to prevent financial risks caused by real estate; Second, it is necessary to reduce the total cost of economic operation represented by real estate under the internal circulation mode; Third, it is necessary to reduce the pressure of living costs to increase fertility willingness and maintain sustainable population development.\"</p><p><img src=\"https://static.tigerbbs.com/8a08ad922ffa471f7aea8f0400a29bb4\" tg-width=\"1080\" tg-height=\"1230\" referrerpolicy=\"no-referrer\"></p><p><b>03. Real estate companies \"no longer in the limelight\" and their stock prices sharply pullback/retracement</b></p><p>Policy changes have also directly affected listed companies in the real estate industry.</p><p>Benefiting from the rapid development of China's real estate market in recent years, a large number of giant real estate listed companies have been born in China, and real estate companies were once regarded as a symbol of \"not short of money\".</p><p>Wanda Chairman Wang Jianlin, who has passed away<a href=\"https://laohu8.com/S/BEKE\">Shells</a>Chairman Zuo Hui and other real estate tycoons have all ascended to the throne of \"the richest man\".</p><p>However, with the state beginning to regulate the \"overheated\" real estate market and the introduction of a series of strict regulatory policies, these listed real estate companies have also encountered the problem of \"turning around in a catastrophe\", and problems such as capital chain breakage, income decline, stock price decline and high debt also followed.</p><p>In August last year, the Ministry of Housing and Urban-Rural Development and the People's Bank of China held a symposium on key real estate enterprises in Beijing, which clarified the fund monitoring and financing management rules of key real estate enterprises, which is the \"three red lines\" that have been rumored many times in the industry before.</p><p>According to incomplete statistics from Phoenix.com's \"Eye of the Storm\", among the 40 leading real estate companies listed on Hong Kong stocks and A-shares, more than half of the companies' stock prices are more than 30% away from the highest pullback/retracement within 52 weeks.</p><p><img src=\"https://static.tigerbbs.com/face4ce6faa97c257718c9108ee3c3b8\" tg-width=\"1080\" tg-height=\"1003\" referrerpolicy=\"no-referrer\"></p><p>In fact, during the collective \"big dive\" of A-shares on Monday and Tuesday this week, due to concerns about the policy supervision of the real estate market, A-share real estate stocks also collectively fell sharply.<a href=\"https://laohu8.com/S/000718\">Suning Global</a>、<a href=\"https://laohu8.com/S/600773\">Tibet City Investment</a>It once fell more than 10%.</p><p><img src=\"https://static.tigerbbs.com/0dfca5e8a01f143057cf5d1f41a95b53\" tg-width=\"324\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><b>04. Is the big change in the property market coming?</b></p><p>Wuhan's policy of \"buying a house with a house ticket\" also reminds many people of \"food stamps\" and \"meat stamps\" in the planned economy era. So, does \"buying a house with a house ticket\" really mean returning to the era of planned economy? Will it trigger other cities to follow up?</p><p><img src=\"https://static.tigerbbs.com/cb31adddcc3e0bf4814fad90b355b71b\" tg-width=\"1080\" tg-height=\"219\" referrerpolicy=\"no-referrer\"></p><p>Bai Wenxi said that it has been nearly 30 years since China bid farewell to the ticket era, and the launch of Wuhan's \"room ticket\" has touched and evoked people's memories of the era of insufficient supply and tickets everywhere in the planned economy era. As one of the industries with the highest public attention, the \"room ticket\" incident in Wuhan, which is still brewing, will most likely be pushed to the \"hot search\".</p><p>Bai Wenxi believes that the room ticket itself is based on the system design of compressing demand by access control, and then changing the relationship between supply and demand in the property market to prevent the property market from overheating. However, the logical regulation of the property market needs to start from both ends of supply and demand. While limiting and suppressing demand with quantitative tools and price tools, it is also necessary to balance the relationship between supply and demand by increasing market supply.</p><p>\"Therefore, if we really want to stabilize the supply and demand relationship in the property market, we should try our best to reduce and eliminate all kinds of control measures at both ends of supply and demand, guide the allocation of resources and factors and reconstruct the supply and demand relationship with the price mechanism, let alone restore the tickets of the planned economy era.\" Bai Wenxi told Phoenix.com's \"Eye of the Storm\".</p><p><img src=\"https://static.tigerbbs.com/b5109cefd2de75f41c0a1a0f3da6acbb\" tg-width=\"720\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p>Whether it's the policy of \"buying a house with a house ticket\" introduced by Wuhan this time, a series of regulatory policies on the real estate market introduced by local governments this year, or the rumored \"real estate tax\" to be introduced soon, do these mean that China's property market will usher in a big change?</p><p>Zhuge Housing Search Data Research Center told Phoenix.com's Eye of the Storm: \"The introduction of real estate tax may usher in another reshuffle of the real estate market.\"</p><p>\"From the current real estate policy adjustment, it is the main tone of China's real estate market to insist on living in housing without speculation. Under this principle, first of all, it is necessary to curb the excessive rise of house prices through policy regulation and promote the market to gradually return to the rational stage; Secondly, constantly improve and standardize the real estate market system, crack down on some behaviors of speculating on house prices and exploiting policy loopholes in time, and promote the healthy development of the real estate market; Third, tilt limited resources to groups in just-needed needs to provide home buyers with a more stable real estate environment. \"</p><p>Zhuge Housing Data Research Center believes that with the introduction of these policies, the interests of the real just-needed groups have been guaranteed, and the mentality of buying houses has gradually become rational, which has played a certain role in inhibiting the excessive rise of house prices. In the long run, after strict policy regulation, housing prices in first-tier cities will tend to run smoothly.</p><p>Bai Wenxi believes that if the property tax is really introduced soon, it does mean that the real estate market will usher in a major change, but in fact, the real estate tax has not been submitted for deliberation according to the legislative procedure, and it will not be introduced soon, and there is no timetable.</p><p>Bai Wenxi said that if these policies do not start with expanding the supply side, but only take measures such as quantitative tools to control demand-side access, such as room tickets, and price tools to control demand-side, such as mortgage ratio and interest rate, the result may just raise the soup and stop boiling, or even rise more and more.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c3c5822c22b6cfd1d0ae2625b7bc085e","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198370900","content_text":"2021年春节过后，原本平静的武汉楼市突然躁动起来。\n短短两个月的时间里，武汉光谷关山大道的中建大公馆、金地格林东郡、泛悦城等楼盘，从2万元/平方米左右的价格，涨到了3、4万元/平方米。\n而房价飞涨的背后，是来自深圳、徐州、枣庄等地的投资客们，利用武汉市相对宽松的落户政策和限购政策，疯狂“炒房”。\n当时，深受其害的武汉当地人对媒体表示：“恨死了这些外地炒房客，政府啥时候能严格限购啊？”\n武汉人民并未等太久。3个月后，7月28日，武汉市房管局发布了关于加强购房资格管理的征求意见稿。意见稿发布后，“武汉将实施凭房票买房”的话题也迅速在网络上引起热议。\n武汉要进入“凭房票买房”时代了？对这个消息，有人支持，有人质疑，还有人担心“炒房”会变成“炒房票”。\n不过，无论如何解读，武汉释放出的楼市“收紧”的信号则是明确的。实际上，正在“收紧”楼市政策的不止武汉一个城市。\n凤凰网《风暴眼》发现，进入2021年以来，包括北京、上海、广州、深圳、杭州等在内的地方政府，都发布了针对房地产市场的更为严格的监管政策。\n随着校外教培行业迎来颠覆式的大变革，很多人也不禁发问：中国楼市的大变革，也要来了吗？\n中国企业资本联盟副理事长、IPG中国首席经济学家柏文喜对凤凰网《风暴眼》表示：“这些政策在短期内会加大和提升投资性需求的购房难度与成本，从而从一定程度上抑制楼市过热问题。但长期来看，如果实际的市场供求关系不改变，影响房价的人口、土地、金融政策不作大的改变，则很难对房价产生实质性影响。”\n\n01、武汉的“凭票买房”，到底是什么？\n在网上引起热议的武汉“凭房票买房”的政策，到底规定了哪些内容呢？\n7月28日，为坚持“房住不炒”定位，进一步加强武汉市购房资格管理工作，武汉市房管局发布《市住房保障房管局关于加强购房资格管理工作的通知（征求意见稿）》，并公开征求意见。\n\n根据意见稿，在购房资格申请上，符合限购区域购买住房的意向购房人可通过官方平台或者通过开发商和中介机构申请购房资格。\n各区房管部门在申请之时起48个小时内完成购房资格认定，并将认定结果反馈给申请人，购房资格认定结果自出具之日起60日内有效。\n《征求意见稿》还要求，购房登记完成后，购房资格认定结果即时锁定，锁定期间不得再次进行购房登记。开盘销售后，购房资格认定结果自动解除锁定。\n柏文喜对凤凰网《风暴眼》表示：“武汉‘凭票买房’的相关设想目前尚处于征求意见阶段，这是为加强楼市管控、立足于购房者资格准入提出的拟意中的制度设计。”\n那么，“凭房票购房”的政策出台后，会对武汉的楼市造成哪些影响呢？\n诸葛找房数据研究中心对凤凰网《风暴眼》表示：“凭票买房政策，是前期政策的一个打补丁新政，也是对限购政策的补充完善，一定程度上可以遏制市场乱象，对规范房地产市场交易有着积极作用，较有力地打击了部分制造虚假热售场面的开发商，一定程度上可以抑制炒房现象。”\n中国豪宅研究院院长朱晓红对凤凰网《风暴眼》表示：“凭票买房与香港、韩国的住房干预有异曲同工之处。对打击炒房，控制过度消费住房产品有好处，但要防止‘以房票谋私’和‘房票买卖’，一定要确保房票给对人。”\n柏文喜也表达了类似的担忧，他表示：“房票表面上会控制需求和打击炒房，但实际上是通过压抑需求和不增加供给进行的，如果运用不当，可能反而会加剧供求矛盾，引发权力腐败、加剧各类变相炒房和地下炒房等行为。”\n02、地方政府密集出台政策，“收紧”信号明显\n实际上，武汉市对于购房资格的政策调整，可能早在2020年就已经开始了。\n去年1月，武汉实行了商品房资格核查全程网办，意向购房者可通过武汉市房管局官网申请资格并查询结果，如果通过审核，即可获取编号和二维码等审核资料信息，该资料60日内购房有效，过期需重新申请。\n可以看出，早在2020年武汉市就已搭建出“凭房票买房”的机制雏形。而此次的征求意见稿，也是对先关政策的补充和完善。\n而除了武汉外，北上广深等一线城市，嘉兴、佛山、无锡等二三线城市，以及住建部等中央部门，也都陆续发布了一系列政策来对房地产市场加强监管。\n1月5日，住建部部长王蒙徽在接受媒体采访时，重申了坚持房住不炒，落实房地产长效机制等政策原则，表示2021年房住不炒仍然作为政策主基调不改变，同时长效机制不断落实完善的信号。\n例如，上海市也在1月份明确继续实施房产税试点。同时，上海市还针对“假离婚，真购房”现象，规定：夫妻离异的，任何一方自夫妻离异之日起3年内购买商品住房的，其拥有住房套数按离异前家庭总套数计算。调整增值税征免年限。将个人对外销售住房增值税征免年限从2年提高至5年。\n3月，西安也发布限购新政，规定购房人骗取或通过“代持”方式规避限购政策的，其本人及“代持人”将列入我市购房失信人员名册，5年内不得购房\n6月，财政部、自然资源部、税务总局、人民银行联合发布通知，国有土地使用权出让收入等四项政府非税收入将划转税务部门征收，一度引起热议。\n7月23日，住建部、发改委、公安部等八部门共同发布关于持续整治规范房地产市场秩序的通知，从房地产开发、房屋买卖、住房租赁以及物业服务四个方面切入，对房地产市场秩序进行全面规范。\n7月30日，银保监会召开全系统2021年年中工作座谈会暨纪检监察工作（电视电话）座谈会。会议强调，要严格执行“三线四档”和房地产贷款集中度要求，防止银行保险资金绕道违规流入房地产市场。\n据凤凰网《风暴眼》不完全统计，从今年1月至今，各地政府和中央相关部门共发布了超过40项针对房地产市场以及其衍生服务的监管和调控政策。数量之多，密度之大，在近年来都是比较罕见的。\n柏文喜对凤凰网《风暴眼》表示：“目前针对房地产政策的调整的原因有三个：第一是防范房地产引发的金融风险问题；第二是内循环模式下需要降低以房地产为代表的经济运行总成本；第三是提升生育意愿和保持人口可持续发展需要降低居住成本压力。”\n\n03、地产公司“风头不再” 股价大幅回撤\n政策的变化，也直接影响到了地产行业的上市公司身上。\n受益于中国房地产市场近年来的快速发展，中国也诞生了一大批巨无霸类的地产上市公司，地产企业也一度被视为“不差钱”的象征。\n万达董事长王健林、已经去世的贝壳董事长左晖等地产大亨们，都曾登上过“首富”的宝座。\n然而随着国家开始对“过热”的房地产市场进行调控，以及一系列严格的监管政策的出台，这些地产上市公司也纷纷遭遇了“船大难掉头”的难题，资金链断裂、收入下滑、股价下跌、高额负债等问题也随之而来。\n去年8月，住房城乡建设部、人民银行在北京召开重点房地产企业座谈会，明确了重点房地产企业资金监测和融资管理规则，也就是此前业内多次传闻的“三条红线”。\n据凤凰网《风暴眼》不完全统计，在港股和A股上市的40家头部地产公司中，有一半以上的公司股价在52周内距最高点回撤超过30%。\n\n事实上，就在本周一、周二的A股集体“大跳水”中，出于对房地产市场政策监管的担忧情绪，A股地产股也集体大跌，苏宁环球、西藏城投一度跌超10%。\n\n04、楼市的大变革，要来了吗\n武汉“凭房票买房”政策，也让很多人联想到了计划经济时代的“粮票”、“肉票”。那么，“凭房票购房”，是否真的意味着回到计划经济时代？是否又会引发其他城市跟进？\n\n柏文喜表示，中国告别票证时代已近三十年了，而武汉“房票”的推出触碰和勾起了了人们对计划经济年代供给不足、处处票证的时代记忆，房地产作为公众关注度最高的行业之一，尚在酝酿之中的武汉“房票”事件大概率会被推上“热搜”。\n柏文喜认为，房票本身是立足于以准入管制来压缩需求，进而改变楼市供求关系以防止楼市过热的制度设计。但是楼市调控逻辑上需要从供求两端着手，在以数量工具与价格工具限制与压抑需求的同时，还要通过增加市场供给来平衡供求关系。\n“因此，真正要平抑楼市供求关系的话，则要尽量减少和消除供求两端的各类管制措施，以价格机制引导资源和要素配置并重构供求关系，更不能恢复计划经济时代的票证。”柏文喜对凤凰网《风暴眼》表示。\n\n无论是武汉市此次出台的“凭房票买房”的政策，还是今年以来各地政府出台的一系列对房地产市场的监管政策，抑或是传闻中即将出台的“房地产税”，这些是否意味着中国楼市将迎来一次大变革呢？\n诸葛找房数据研究中心对凤凰网《风暴眼》表示：“房地产税的出台，或将迎来房地产市场的又一次洗牌。”\n“从目前房地产政策调整来看，坚持房住不炒是我国房地产市场的主基调。在此原则之下，首先需通过政策调控抑制房价上涨过快，促进市场逐渐回归理性阶段；其次，不断完善和规范房地产市场体系，对一些炒作房价、钻政策空子的行为及时进行打击，促进房地产市场健康发展；第三，将有限的资源向刚需群体倾斜，为购房者提供一个更为稳定的房地产环境。”\n诸葛找房数据研究中心认为，随着这些政策出台，真正的刚需群体利益得到保障，购房心态也逐渐理性，对房价过快上涨起到一定的抑制作用。长期来看，一线城市房价在经过严格的政策调控后，房价将趋于平稳运行。\n柏文喜认为，如果房产税真的很快出台，确实意味着房地产市场将迎来一次大变革，但是事实上房地产税按照立法程序尚未提交审议，是不会很快出台，也没有时间表的。\n柏文喜表示，这些政策如果不是从扩大供给端入手，而是仅仅采取控制需求端准入的数量工具如房票、控制需求端的价格工具如按揭成数与利率等措施，结果可能只是扬汤止沸，甚至越调越涨。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4040,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177980261,"gmtCreate":1627175634753,"gmtModify":1703485011521,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/177980261","repostId":"2154558939","repostType":4,"isVote":1,"tweetType":1,"viewCount":2758,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144336202,"gmtCreate":1626267041906,"gmtModify":1703756659159,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/144336202","repostId":"1167929244","repostType":4,"isVote":1,"tweetType":1,"viewCount":1005,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804032750,"gmtCreate":1627911631370,"gmtModify":1703497714174,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/804032750","repostId":"1139994539","repostType":4,"repost":{"id":"1139994539","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627910923,"share":"https://ttm.financial/m/news/1139994539?lang=en_US&edition=fundamental","pubTime":"2021-08-02 21:28","market":"us","language":"zh","title":"Opening: U.S. stocks opened higher, Tesla rose more than 2% to return to $700","url":"https://stock-news.laohu8.com/highlight/detail?id=1139994539","media":"老虎资讯综合","summary":"8月2日（周一），道琼斯指数开盘上涨105.41点，涨幅0.30%，报35040.88点；标普500指数开盘上涨19.64点，涨幅0.45%，报4414.90点；纳斯达克综合指数开盘上涨79.6点，涨","content":"<p>On August 2 (Monday), the Dow Jones index opened up 105.41 points, or 0.30%, to 35040.88 points; The S&P 500 index opened up 19.64 points, or 0.45%, to 4,414.90 points; The Nasdaq Composite Index opened up 79.6 points, or 0.54%, to 14,752.3 points.</p><p><img src=\"https://static.tigerbbs.com/c5c06ce68297a2bd9f1b9f46916cdb0d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The concept of anti-epidemic and shipping sectors rose at the beginning of the session.</p><p>China's new car-making forces collectively announced the delivery volume in July, and they all opened higher at the beginning of the session.<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>、<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It rose more than 3% at the beginning of the session,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Up 0.56%.</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It opened more than 2% higher and is now trading at $703. The stock price has returned to the $700 mark, and its market value is close to $700 billion.,</p><p><img src=\"https://static.tigerbbs.com/7218f14f735e84877a1776c58d752643\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/BEST\">Best Group</a>It rose 3% at the beginning of the session. Today, it announced that it will cooperate with Cainiao to launch cross-border logistics services for Southeast Asia.</p><p><a href=\"https://laohu8.com/S/KC\">Kingsoft Cloud</a>It was higher at the beginning of the session and is now up 4.5%. The company today announced the acquisition of Camelot, a British enterprise management platform, as part of its business transformation.</p><p><a href=\"https://laohu8.com/S/MOMO\">Momo</a>It rose more than 1%, and today the company officially changed its name to \"Hello Group\".</p><p><a href=\"https://laohu8.com/S/VXRT\">Vaxart</a>It rose by more than 15%, and its oral COVID-19 vaccine human trial was approved by the FDA.</p><p><a href=\"https://laohu8.com/S/ONNN\">Ansenmei</a>Semiconductor (ON.O) rose more than 11%, and all indicators of the second quarter financial report exceeded expectations, and turned losses into profits.</p><p>The cruise sector of the U.S. stock market rose at the beginning of the session, with Carnival Cruises rising 4%, Norwegian Cruises rising 3.4%, and Royal Caribbean Cruises rising 3%. Cruise lines resumed route operations last week.</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>Opening: U.S. stocks opened higher, Tesla rose more than 2% to return to $700</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\">\nOpening: U.S. stocks opened higher, Tesla rose more than 2% to return to $700\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-02 21:28</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On August 2 (Monday), the Dow Jones index opened up 105.41 points, or 0.30%, to 35040.88 points; The S&P 500 index opened up 19.64 points, or 0.45%, to 4,414.90 points; The Nasdaq Composite Index opened up 79.6 points, or 0.54%, to 14,752.3 points.</p><p><img src=\"https://static.tigerbbs.com/c5c06ce68297a2bd9f1b9f46916cdb0d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>The concept of anti-epidemic and shipping sectors rose at the beginning of the session.</p><p>China's new car-making forces collectively announced the delivery volume in July, and they all opened higher at the beginning of the session.<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>、<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It rose more than 3% at the beginning of the session,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Up 0.56%.</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It opened more than 2% higher and is now trading at $703. The stock price has returned to the $700 mark, and its market value is close to $700 billion.,</p><p><img src=\"https://static.tigerbbs.com/7218f14f735e84877a1776c58d752643\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/BEST\">Best Group</a>It rose 3% at the beginning of the session. Today, it announced that it will cooperate with Cainiao to launch cross-border logistics services for Southeast Asia.</p><p><a href=\"https://laohu8.com/S/KC\">Kingsoft Cloud</a>It was higher at the beginning of the session and is now up 4.5%. The company today announced the acquisition of Camelot, a British enterprise management platform, as part of its business transformation.</p><p><a href=\"https://laohu8.com/S/MOMO\">Momo</a>It rose more than 1%, and today the company officially changed its name to \"Hello Group\".</p><p><a href=\"https://laohu8.com/S/VXRT\">Vaxart</a>It rose by more than 15%, and its oral COVID-19 vaccine human trial was approved by the FDA.</p><p><a href=\"https://laohu8.com/S/ONNN\">Ansenmei</a>Semiconductor (ON.O) rose more than 11%, and all indicators of the second quarter financial report exceeded expectations, and turned losses into profits.</p><p>The cruise sector of the U.S. stock market rose at the beginning of the session, with Carnival Cruises rising 4%, Norwegian Cruises rising 3.4%, and Royal Caribbean Cruises rising 3%. Cruise lines resumed route operations last week.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139994539","content_text":"8月2日（周一），道琼斯指数开盘上涨105.41点，涨幅0.30%，报35040.88点；标普500指数开盘上涨19.64点，涨幅0.45%，报4414.90点；纳斯达克综合指数开盘上涨79.6点，涨幅0.54%，报14752.3点。\n\n抗疫概念、海运板块盘初走高。\n中概造车新势力集体公布7月交付量，盘初齐齐高开。小鹏汽车、理想汽车盘初涨超3%，蔚来涨0.56%。\n特斯拉高开超2%，现报703美元，股价重回700美元关口，市值接近7000亿美元。、\n\n百世集团盘初涨3%，今日宣布将与菜鸟合作推出面向东南亚的跨境物流服务。\n金山云盘初走高，现涨4.5%，公司今日宣布收购英国企业管理平台Camelot，作为业务转型的一部分。\n陌陌涨超1%，今日公司正式更名为“Hello集团”。\nVaxart涨超15%，其口服式新冠疫苗人体试验获FDA批准进行。\n安森美半导体(ON.O)涨超11%，第二季度财报各项指标均超出预期，并实现扭亏为盈。\n美股邮轮板块盘初异动拉升，嘉年华邮轮涨4%，挪威邮轮涨3.4%，皇家加勒比邮轮涨3%。各邮轮公司于上周陆续恢复航线运行。","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3054,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805993153,"gmtCreate":1627831705372,"gmtModify":1703496386944,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/805993153","repostId":"1170169817","repostType":4,"repost":{"id":"1170169817","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627819590,"share":"https://ttm.financial/m/news/1170169817?lang=en_US&edition=fundamental","pubTime":"2021-08-01 20:06","market":"hk","language":"zh","title":"China Evergrande: Selling 11% stake in Hengteng Network for HK $3.25 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1170169817","media":"老虎资讯综合","summary":"8月1日，恒腾网络在港交所公告称，中国恒大出售恒腾网络合计11%股权，总代价为32.5亿港元，每股3.20港元。其中，买方一为腾讯控股全资持有的附属公司，其收购恒腾网络7%股份。截至公告日期，买方一持","content":"<p>On August 1, Hengteng Network announced on the Hong Kong Stock Exchange that China Evergrande sold a total of 11% equity of Hengteng Network for a total consideration of HK $3.25 billion and HK $3.20 per share. Among them, Buyer 1 is a wholly-owned subsidiary of Tencent Holdings, which acquired 7% shares of Hengteng Network. As of the date of the announcement, Buyer 1 holds approximately 16.90% of the issued share capital of Hengteng Network; China Evergrande holds approximately 37.55% of the issued share capital of Hengteng Network.</p><p><img src=\"https://static.tigerbbs.com/4e91ded77d46b3fdfb7cd8634a833e8e\" tg-width=\"1135\" tg-height=\"768\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Evergrande: Selling 11% stake in Hengteng Network for HK $3.25 billion</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\">\nChina Evergrande: Selling 11% stake in Hengteng Network for HK $3.25 billion\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-01 20:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On August 1, Hengteng Network announced on the Hong Kong Stock Exchange that China Evergrande sold a total of 11% equity of Hengteng Network for a total consideration of HK $3.25 billion and HK $3.20 per share. Among them, Buyer 1 is a wholly-owned subsidiary of Tencent Holdings, which acquired 7% shares of Hengteng Network. As of the date of the announcement, Buyer 1 holds approximately 16.90% of the issued share capital of Hengteng Network; China Evergrande holds approximately 37.55% of the issued share capital of Hengteng Network.</p><p><img src=\"https://static.tigerbbs.com/4e91ded77d46b3fdfb7cd8634a833e8e\" tg-width=\"1135\" tg-height=\"768\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c6fcdaee085f89a043698b2126b966fe","relate_stocks":{"00136":"中国儒意","03333":"中国恒大"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170169817","content_text":"8月1日，恒腾网络在港交所公告称，中国恒大出售恒腾网络合计11%股权，总代价为32.5亿港元，每股3.20港元。其中，买方一为腾讯控股全资持有的附属公司，其收购恒腾网络7%股份。截至公告日期，买方一持有恒腾网络已发行股本之约16.90%；而中国恒大持有恒腾网络已发行股本之约37.55%。","news_type":1,"symbols_score_info":{"03333":0.9,"00136":0.9}},"isVote":1,"tweetType":1,"viewCount":3913,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118254698,"gmtCreate":1622735000114,"gmtModify":1704190188258,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/118254698","repostId":"1117245375","repostType":4,"repost":{"id":"1117245375","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622731377,"share":"https://ttm.financial/m/news/1117245375?lang=en_US&edition=fundamental","pubTime":"2021-06-03 22:42","market":"us","language":"zh","title":"U.S. auto stocks collectively bucked the trend and rose, while Tesla fell alone","url":"https://stock-news.laohu8.com/highlight/detail?id=1117245375","media":"老虎资讯综合","summary":"周四，美股汽车股集体逆市上涨。Workhorse一度涨近60%，该股昨日涨19%；Lordstown涨约10%，通用汽车涨近6%，福特汽车涨幅扩大至5.8%，股价刷新2015年以来新高。丰田、本田涨超","content":"<p>On Thursday, U.S. auto stocks collectively bucked the trend and rose. Workhorse rose nearly 60% at one point, and the stock rose 19% yesterday; Lordstown rose about 10%,<a href=\"https://laohu8.com/S/GM\">General Motors</a>Rose nearly 6%,<a href=\"https://laohu8.com/S/F\">Ford Motor</a>The increase expanded to 5.8%, and the stock price hit a new high since 2015. Toyota and Honda rose more than 1%</p><p>As for Chinese concept stocks,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Rose more than 4%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Up more than 2%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Up nearly 2%.</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It fell more than 1%.</p><p><img src=\"https://static.tigerbbs.com/24a9cfc1ac0943e3e97625babdb34465\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. auto stocks collectively bucked the trend and rose, while Tesla fell alone</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\">\nU.S. auto stocks collectively bucked the trend and rose, while Tesla fell alone\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-03 22:42</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Thursday, U.S. auto stocks collectively bucked the trend and rose. Workhorse rose nearly 60% at one point, and the stock rose 19% yesterday; Lordstown rose about 10%,<a href=\"https://laohu8.com/S/GM\">General Motors</a>Rose nearly 6%,<a href=\"https://laohu8.com/S/F\">Ford Motor</a>The increase expanded to 5.8%, and the stock price hit a new high since 2015. Toyota and Honda rose more than 1%</p><p>As for Chinese concept stocks,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Rose more than 4%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Up more than 2%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Up nearly 2%.</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It fell more than 1%.</p><p><img src=\"https://static.tigerbbs.com/24a9cfc1ac0943e3e97625babdb34465\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/edb5904d62b10798f760277be625646d","relate_stocks":{"WKHS":"Workhorse Group, Inc."},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117245375","content_text":"周四，美股汽车股集体逆市上涨。Workhorse一度涨近60%，该股昨日涨19%；Lordstown涨约10%，通用汽车涨近6%，福特汽车涨幅扩大至5.8%，股价刷新2015年以来新高。丰田、本田涨超1%中概股方面，小鹏汽车涨超4%，理想汽车涨超2%，蔚来涨近2%。特斯拉则跌超1%。 ","news_type":1,"symbols_score_info":{"WKHS":0.9}},"isVote":1,"tweetType":1,"viewCount":670,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153346773,"gmtCreate":1625011578692,"gmtModify":1703849957746,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/153346773","repostId":"2147898588","repostType":4,"isVote":1,"tweetType":1,"viewCount":378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187761007,"gmtCreate":1623764721409,"gmtModify":1703818633758,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Up&nbsp;","listText":"Up&nbsp;","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/187761007","repostId":"1119444358","repostType":4,"isVote":1,"tweetType":1,"viewCount":644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183418811,"gmtCreate":1623340436233,"gmtModify":1704201368017,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Yi","listText":"Yi","text":"Yi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/183418811","repostId":"2142526221","repostType":4,"isVote":1,"tweetType":1,"viewCount":592,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119707430,"gmtCreate":1622562508820,"gmtModify":1704186448801,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"3","listText":"3","text":"3","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/119707430","repostId":"2139458337","repostType":4,"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148308287,"gmtCreate":1625925317849,"gmtModify":1703750950416,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/148308287","repostId":"1124741749","repostType":4,"repost":{"id":"1124741749","kind":"news","pubTimestamp":1625910991,"share":"https://ttm.financial/m/news/1124741749?lang=en_US&edition=fundamental","pubTime":"2021-07-10 17:56","market":"us","language":"zh","title":"Thorpe and Simmons: The legendary lives of two godfather investment tycoons","url":"https://stock-news.laohu8.com/highlight/detail?id=1124741749","media":"SMARTMATRIX","summary":"他们都出生于30年代，自幼天赋异禀、身在学术圈但都一心向钱，有两个共同的母校。","content":"<p>A Man for All Markets is the personal biography of Edward Thorp, the Chinese translation of \"The Man Who Beat All Markets\". Judging from Thorp's experience, from defeating casinos to entering Wall Street, OTC options, convertible bonds, stocks, futures and other derivatives, all Dabbled in, worthy of the name All Markets. Taleb says in the preface that his memoir reads like a thriller.</p><p>As a mathematical genius and the godfather of quantitative investment, he pioneered the introduction of probability theory, information theory, and computer programming into financial transactions, which influenced countless Quant bosses in later generations: Bill Gross, David Shaw, Ken Griffin... including the famous James Simons, whose Renaissance Technology company created the myth of the rate of return in financial history. Similarly, Simons' biography The Man Who Solved The Market records in detail the ups and downs of his and his team's conquest of the financial market.</p><p><b>Academic origin</b></p><p>When culture flourishes, people are outstanding. The so-called outstanding people, such as the Huxiang School since the late Ming Dynasty in China, made Hunan the cradle of revolutionaries. In the academic circle, there is a similar phenomenon. If you study the backgrounds of the two bosses carefully, you will find a lot in common. They were both born in the 1930s. They were gifted since childhood, in the academic circle, but they were all dedicated to money. They have two common alma maters: the University of California, Berkeley and MIT. The academics of both universities reached their peak after the war. One of the main reasons was the large-scale military scientific research activities (the famous Manhattan Project, cryptography, information theory and modern computers) spawned by World War II. Both Thorp and Simons happened to catch up with this wave of academic dividends. In the 1950s, Thorp was obsessed with studying roulette with Shannon, while Simons was still immersed in theoretical mathematics, which also made his academic achievements higher (Chern-Simons Theroy). In the 1960s, MIT became the center of the computer revolution, and mathematics and computers were the two keys to Wall Street, and Thorp was the lucky one to hold these two keys.</p><p><b>Casinos vs Wall Street</b></p><p>The popular story nowadays is that Thorp defeated the casino by using the law of large numbers and Kelly's formula, and he became the first person in history to be \"blacked out\" by Las Vegas casinos. By contrast, the hedge fund he founded, PNP (Princeton Newport Partners), has a dim profile. In fact, from 1969 to 1988, the annualized returns of the two PNP funds reached 19.1% and 15.1% respectively, while the average annual growth rate of the S&P index during the same period was 10.2%. In the past 19 years, after two oil crises in the 1970s and the stock market crash in 1987, the two funds have never suffered a single-quarter loss, let alone an annual loss. In the world's largest casino, its performance is unparalleled, and its investment model is 20 years ahead of the wide customers who have filed into Wall Street since then.</p><p>In 1988, Thorp's fund was forced to close because it was implicated in the case of Milken, the king of junk bonds. It was in this year that Simons established the Medallion Fund. He is over 500 years old and can be described as a late bloomer. Before that, he had been groping for 10 years to find a successful investment model, and had been swinging between subjective and quantitative. Although the outside world has always regarded Simons as a master of quantitative investment, in fact, his role is completely different from Thorp's. His main job is not to develop quantitative models, but to dig all kinds of scientists from the academic circle to help the company develop quantitative models, and shape the company's corporate culture as a spiritual leader. As a world-class mathematician + excellent sales, he can deal with different people well, which is a rare ability.</p><p><b>The road to quantification</b></p><p>As a pioneer in quantitative trading, Thorp is good at hedging and arbitrage of various derivatives. The bear market and volatility in the 1970s made this strategy work perfectly. Relying on his mathematical talent and market sense, he discovered new blue oceans: Statistical Arbitrage and factor models-early quant prototypes. The risk under this model is theoretically infinite, especially the upper limit of losses for shorting those overvalued stocks is infinite. Thorp's main risk control strategy is diversified investment. Since then, LTCM has adopted a similar arbitrage model, but lacked a risk control strategy like Thorp and was defeated by the black swan. In order to improve investment efficiency, Thorp turned investment strategies into programs and once again became a pioneer in programmatic trading (Algorithm Trading).</p><p>Simons, in contrast, was less lucky. From early attempts at intuitive investing to trend-based momentum trading, reversal trading to continuous collection and mining of massive amounts of data, including data cleaning, signal mechanism and backtesting. In 1986, the model framework for identifying hidden price trends was used-in 1989, abnormal trading signals were used for short-term high-frequency trading-in 1992, it was changed to only a single model (key breakthrough), and then speech recognition experts helped make various technological breakthroughs (financial models have similarities with speech recognition), and the model has gone through a long process of iterative improvement. In the end, the important core competence of the model was developed: identifying the \"value of transactions\", including: the certainty of price trends, the weight trade-off between trading signals, and the judgment of the impact of trading based on signals on the market. This capability is particularly important for high-frequency full-variety trading.</p><p><b>Winning System: Probabilistic Thinking & Modeling Human Behavior</b></p><p>For Thorp, gambling and investment are games based on probability statistics, and the bet amount is allocated according to the winning percentage (fund management based on Kelly's law). The first major breakthrough of Medallion Fund also comes from the application of Kelly's law and shortening the trading frequency to make its trading more reflective of the law of large numbers. Medallion's system can make money as long as the winning rate is slightly above 50%, regardless of the profit or loss of every sale. Essentially, it is making money by taking advantage of the omissions and mistakes of other traders (market ineffectiveness). Humans are highly predictable in their behavior under high pressure, and they instinctively show panic. The premise of modeling is that humans will constantly repeat past behaviors. Soros once modeled human behavior with the philosophical theory of reflexivity, while Simons's team used data and algorithms to model human behavior to confirm the theory of behavioral finance.</p><p>Unlike traditional value investing, which simplifies the market into a market gentleman, the experience of quantitative investing is that there are far more factors and variables that affect financial markets and investments than most people realize, and the factors that lead to market ineffectiveness can even be said to be encrypted (Thorp spares no effort to refute the efficient market hypothesis in his book). Investors try to find the most basic driving factors, but what they are missing may be an entire dimension of information. Medallion Fund can't explain the logic behind every profit law, just as human beings can't understand Alpha Go, perhaps it exists at a higher latitude.</p><p>Models are abstractions and simplifications of the world, but models are not omnipotent. When data and desire conflict, even rational scientists cannot be completely rational. Simons' original intention was to create an algorithm-driven automatic trading system, which completely shielded human subjective judgment. However, in every crisis, he still couldn't help but intervene manually to reduce his dependence on signals and actively reduce his trading position. The results of the intervention were not very ideal. His colleague Patterson also said: \"<b>Never put too much trust in trading models. The basic mistake of LTCMs is to believe that the model is the truth. We never believe that our model can reflect the whole fact, it only reflects some of it</b>。”</p><p><b>Wide guest student</b></p><p>In fact, the intersection of many big guys is far beyond our imagination. For example, Thorp and Buffett played at the bridge table. After confirming that Buffett would eventually become the richest man in the United States, they decisively invested in BRK stock. Many people think that Xueba may not necessarily have a good life. After all, there is a huge gap between book smart and street smart, and the rules of the real world are much more complicated than those of schools. However, Thorp has practiced the way of thinking of applying abstract thinking to real life, which truly explains that \"a tough life doesn't need to be explained\". Academics, wealth and family are perfect, and he realized early that life itself is higher than making money. Compared with Thorp's splendid life, Simons's life has too many twists and turns. He is divorced, his two sons have suffered misfortune and betrayal by his partners. But in the end, I chose to make peace with life and devote myself to charity. From academic career to lenient students, I explored the true meaning of destiny in the ups and downs, and experience itself was the meaning. As Thorp said at the end of his autobiography: Life is like reading a novel or running a marathon. Reaching the finish line is often not so important, but the journey itself and the experience along the way are more precious.<b>You have dance.</b></p>","source":"lsy1625911325017","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>Thorpe and Simmons: The legendary lives of two godfather investment tycoons</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\">\nThorpe and Simmons: The legendary lives of two godfather investment tycoons\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">SMARTMATRIX</strong><span class=\"h-time small\">2021-07-10 17:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A Man for All Markets is the personal biography of Edward Thorp, the Chinese translation of \"The Man Who Beat All Markets\". Judging from Thorp's experience, from defeating casinos to entering Wall Street, OTC options, convertible bonds, stocks, futures and other derivatives, all Dabbled in, worthy of the name All Markets. Taleb says in the preface that his memoir reads like a thriller.</p><p>As a mathematical genius and the godfather of quantitative investment, he pioneered the introduction of probability theory, information theory, and computer programming into financial transactions, which influenced countless Quant bosses in later generations: Bill Gross, David Shaw, Ken Griffin... including the famous James Simons, whose Renaissance Technology company created the myth of the rate of return in financial history. Similarly, Simons' biography The Man Who Solved The Market records in detail the ups and downs of his and his team's conquest of the financial market.</p><p><b>Academic origin</b></p><p>When culture flourishes, people are outstanding. The so-called outstanding people, such as the Huxiang School since the late Ming Dynasty in China, made Hunan the cradle of revolutionaries. In the academic circle, there is a similar phenomenon. If you study the backgrounds of the two bosses carefully, you will find a lot in common. They were both born in the 1930s. They were gifted since childhood, in the academic circle, but they were all dedicated to money. They have two common alma maters: the University of California, Berkeley and MIT. The academics of both universities reached their peak after the war. One of the main reasons was the large-scale military scientific research activities (the famous Manhattan Project, cryptography, information theory and modern computers) spawned by World War II. Both Thorp and Simons happened to catch up with this wave of academic dividends. In the 1950s, Thorp was obsessed with studying roulette with Shannon, while Simons was still immersed in theoretical mathematics, which also made his academic achievements higher (Chern-Simons Theroy). In the 1960s, MIT became the center of the computer revolution, and mathematics and computers were the two keys to Wall Street, and Thorp was the lucky one to hold these two keys.</p><p><b>Casinos vs Wall Street</b></p><p>The popular story nowadays is that Thorp defeated the casino by using the law of large numbers and Kelly's formula, and he became the first person in history to be \"blacked out\" by Las Vegas casinos. By contrast, the hedge fund he founded, PNP (Princeton Newport Partners), has a dim profile. In fact, from 1969 to 1988, the annualized returns of the two PNP funds reached 19.1% and 15.1% respectively, while the average annual growth rate of the S&P index during the same period was 10.2%. In the past 19 years, after two oil crises in the 1970s and the stock market crash in 1987, the two funds have never suffered a single-quarter loss, let alone an annual loss. In the world's largest casino, its performance is unparalleled, and its investment model is 20 years ahead of the wide customers who have filed into Wall Street since then.</p><p>In 1988, Thorp's fund was forced to close because it was implicated in the case of Milken, the king of junk bonds. It was in this year that Simons established the Medallion Fund. He is over 500 years old and can be described as a late bloomer. Before that, he had been groping for 10 years to find a successful investment model, and had been swinging between subjective and quantitative. Although the outside world has always regarded Simons as a master of quantitative investment, in fact, his role is completely different from Thorp's. His main job is not to develop quantitative models, but to dig all kinds of scientists from the academic circle to help the company develop quantitative models, and shape the company's corporate culture as a spiritual leader. As a world-class mathematician + excellent sales, he can deal with different people well, which is a rare ability.</p><p><b>The road to quantification</b></p><p>As a pioneer in quantitative trading, Thorp is good at hedging and arbitrage of various derivatives. The bear market and volatility in the 1970s made this strategy work perfectly. Relying on his mathematical talent and market sense, he discovered new blue oceans: Statistical Arbitrage and factor models-early quant prototypes. The risk under this model is theoretically infinite, especially the upper limit of losses for shorting those overvalued stocks is infinite. Thorp's main risk control strategy is diversified investment. Since then, LTCM has adopted a similar arbitrage model, but lacked a risk control strategy like Thorp and was defeated by the black swan. In order to improve investment efficiency, Thorp turned investment strategies into programs and once again became a pioneer in programmatic trading (Algorithm Trading).</p><p>Simons, in contrast, was less lucky. From early attempts at intuitive investing to trend-based momentum trading, reversal trading to continuous collection and mining of massive amounts of data, including data cleaning, signal mechanism and backtesting. In 1986, the model framework for identifying hidden price trends was used-in 1989, abnormal trading signals were used for short-term high-frequency trading-in 1992, it was changed to only a single model (key breakthrough), and then speech recognition experts helped make various technological breakthroughs (financial models have similarities with speech recognition), and the model has gone through a long process of iterative improvement. In the end, the important core competence of the model was developed: identifying the \"value of transactions\", including: the certainty of price trends, the weight trade-off between trading signals, and the judgment of the impact of trading based on signals on the market. This capability is particularly important for high-frequency full-variety trading.</p><p><b>Winning System: Probabilistic Thinking & Modeling Human Behavior</b></p><p>For Thorp, gambling and investment are games based on probability statistics, and the bet amount is allocated according to the winning percentage (fund management based on Kelly's law). The first major breakthrough of Medallion Fund also comes from the application of Kelly's law and shortening the trading frequency to make its trading more reflective of the law of large numbers. Medallion's system can make money as long as the winning rate is slightly above 50%, regardless of the profit or loss of every sale. Essentially, it is making money by taking advantage of the omissions and mistakes of other traders (market ineffectiveness). Humans are highly predictable in their behavior under high pressure, and they instinctively show panic. The premise of modeling is that humans will constantly repeat past behaviors. Soros once modeled human behavior with the philosophical theory of reflexivity, while Simons's team used data and algorithms to model human behavior to confirm the theory of behavioral finance.</p><p>Unlike traditional value investing, which simplifies the market into a market gentleman, the experience of quantitative investing is that there are far more factors and variables that affect financial markets and investments than most people realize, and the factors that lead to market ineffectiveness can even be said to be encrypted (Thorp spares no effort to refute the efficient market hypothesis in his book). Investors try to find the most basic driving factors, but what they are missing may be an entire dimension of information. Medallion Fund can't explain the logic behind every profit law, just as human beings can't understand Alpha Go, perhaps it exists at a higher latitude.</p><p>Models are abstractions and simplifications of the world, but models are not omnipotent. When data and desire conflict, even rational scientists cannot be completely rational. Simons' original intention was to create an algorithm-driven automatic trading system, which completely shielded human subjective judgment. However, in every crisis, he still couldn't help but intervene manually to reduce his dependence on signals and actively reduce his trading position. The results of the intervention were not very ideal. His colleague Patterson also said: \"<b>Never put too much trust in trading models. The basic mistake of LTCMs is to believe that the model is the truth. We never believe that our model can reflect the whole fact, it only reflects some of it</b>。”</p><p><b>Wide guest student</b></p><p>In fact, the intersection of many big guys is far beyond our imagination. For example, Thorp and Buffett played at the bridge table. After confirming that Buffett would eventually become the richest man in the United States, they decisively invested in BRK stock. Many people think that Xueba may not necessarily have a good life. After all, there is a huge gap between book smart and street smart, and the rules of the real world are much more complicated than those of schools. However, Thorp has practiced the way of thinking of applying abstract thinking to real life, which truly explains that \"a tough life doesn't need to be explained\". Academics, wealth and family are perfect, and he realized early that life itself is higher than making money. Compared with Thorp's splendid life, Simons's life has too many twists and turns. He is divorced, his two sons have suffered misfortune and betrayal by his partners. But in the end, I chose to make peace with life and devote myself to charity. From academic career to lenient students, I explored the true meaning of destiny in the ups and downs, and experience itself was the meaning. As Thorp said at the end of his autobiography: Life is like reading a novel or running a marathon. Reaching the finish line is often not so important, but the journey itself and the experience along the way are more precious.<b>You have dance.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/g5Zdx-uS3wl9QbsHZm1DVw\">SMARTMATRIX</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/388d882133df2db2363aa871ff756c47","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://mp.weixin.qq.com/s/g5Zdx-uS3wl9QbsHZm1DVw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124741749","content_text":"A Man for All Markets是Edward Thorp的个人传记，中文翻译《战胜一切市场的人》，从Thorp的经历来看，从打败赌场到进入华尔街，OTC期权、可转债、股票、期货等衍生品，全部涉猎，名副其实的All Markets。塔勒布在序言里说，他的回忆录读起来像一部惊悚小说。\n作为一个数学天才、量化投资教父级人物，他开创性的将概率论、信息论、计算机编程引入金融交易，影响了后世无数Quant大佬：Bill Gross、David Shaw、Ken Griffin...其中也包括大名鼎鼎的James Simons，后者的文艺复兴科技公司创造了金融史上的回报率神话，同样，讲述Simons的传记The Man Who Solved The Market，详细记录了他和他的团队征服金融市场的起起落落，虽是一位华尔街日报作家根据采访汇编而成，但其中不少以前从未披露过的精彩故事。\n学术源流\n文化兴，则人杰出，所谓的人杰地灵，比如中国明末以来的湖湘学派让湖南成为革命党人的摇篮。在学术圈，也有类似的现象。仔细研究两位大佬的背景，会发现很多共通点，他们都出生于30年代，自幼天赋异禀、身在学术圈但都一心向钱，有两个共同的母校：加州大学伯克利分校和MIT。两校的学术在战后都达到了巅峰，主要一个原因就是二战催生的大规军事科研活动（著名的曼哈顿计划、密码学、信息论和现代计算机），Thorp和Simons都恰好赶上了这波学术红利。50年代，Thorp醉心于和香农一起研究轮盘赌，而Simons仍埋头于理论数学问题，这也使得其在学术上的成就更高（Chern-Simons Theroy）。60年代，MIT成为计算机革命的中心，而数学和计算机正是通向华尔街的两把钥匙，Thorp正是手握这两把钥匙的幸运儿。\n赌场vs华尔街\n如今为人津津乐道的故事是Thorp利用大数定律和凯利公式打败了赌场，他也成了历史上第一个被拉斯维加斯赌场“拉黑”的人。相比之下，他创设的对冲基金PNP（Princeton Newport Partners）知名度黯淡不少。实际上，从1969年到1988年，PNP两支基金的年化收益率分别达到19.1%和15.1%，同期标普指数年均增长率为10.2%。19年间历经70年代两次石油危机、87年股灾，两只基金从未发生单季亏损，更没有年度亏损。在世间最大的赌场，其业绩冠绝其时，其投资模式，领先此后鱼贯进入华尔街的宽客们20年。\n1988年，Thorp的基金因为受到垃圾债券之王米尔肯一案的牵连被迫关闭。正是在这一年，Simons成立大奖章基金，已年过半百的他，可谓大器晚成，在此前为了寻找成功的投资模型已经摸索了10年之久，一直在主观和量化之间摇摆。尽管外界一直都把Simons视作量化投资大师，但实际上他点角色和Thorp完全不同，他的主要工作并不是开发量化模型，而是从学术圈挖掘各类科学家来帮助公司开发量化模型，并且作为精神领袖塑造公司企业文化。作为一名世界级的数学家+卓越的销售，他与不同的人都能融洽的打交道，这是一种罕见的能力。\n量化之路\n作为量化交易的先驱，Thorp擅长各种衍生品的对冲套利，70年代的熊市和波动率让这种策略运行的非常完美。依靠自己的数学天赋和市场嗅觉发现了新的蓝海：统计套利（Statistical Arbitrage）和因子模型（factors model）——早期的quant原型。这种模式下的风险理论上是无穷的，尤其是做空那些价格高估的股票的损失上限是无穷大，Thorp主要风控策略是分散化投资。此后的LTCM采用类似的套利模式，但缺少Thorp这样的风控策略，被黑天鹅击败。为了提升投资效率，Thorp将投资策略变成程序，再次成为程序化交易（Algorithm Trading）的先驱。\n相比之下，Simons就没那么幸运了。从早期尝试直觉投资到基于趋势的动量交易、反转交易再到持续收集挖掘海量数据包括数据清洗、信号机制和回溯测试。1986年使用识别隐藏价格趋势的模型框架——1989年利用异常交易信号进行短期高频交易——1992年改为只用单一模型（关键性突破），而后语音识别专家帮助进行各种技术突破（金融模型与语音识别有相似之处），模型经历了漫长迭代改进的过程。最终练就了模型重要核心能力：识别出“交易的价值”，包括：价格趋势的确定性大小、交易信号之间的权重取舍、根据信号进行交易对市场造成的影响的判断。这项能力对于高频全品种交易尤为重要。\n取胜系统：概率思考&对人类行为建模\n对Thorp来说，赌博和投资都是以概率统计为基础的游戏，根据胜率的大小来分配下注金额的大小（基于凯利法则的资金管理），而大奖章基金的第一次重大突破也来自于对凯利法则的运用以及缩短交易频率使其交易更体现大数定律。大奖章的系统只要胜率略高于50%就能赚钱，而不在乎每一笔买卖的盈亏。本质上，是在利用其他交易者的疏忽和错误赚钱（市场无效）。人类在高压下的行为具有很高的可预测性，他们会本能地表现出恐慌。建模的前提是人类会不断重复过去的行为。索罗斯曾以反身性的哲学理论对人类行为建模，而Simons的团队利用数据和算法对人类行为建模，以此印证行为金融学的理论。\n与传统的价值投资把市场面简化成一位市场先生不同，量化投资的经验是，影响金融市场和投资的因素和变量远远比大多数人意识到的更多，导致市场无效的因素甚至可以说是加密的（Thorp在书中对有效市场假说也不遗余力的进行驳斥）。投资者努力寻找最基本的推动因素，但是遗漏的也许是一整个维度的信息。大奖章基金无法对每一条盈利的规律背后的逻辑进行解释，就如同人类无法理解阿尔法围棋一样，也许是更高纬度的存在。\n模型是对世界的抽象和简化，但模型并不是万能的。当数据和欲望相冲突，即便是理性的科学家，也无法做到完全理性。Simons的初心是创建的算法驱动的自动交易系统，完全屏蔽人类的主观判断，但每一次危机，他仍忍不住会手动干预，减少对信号的依赖，主动缩减交易头寸，可干预的结果并不十分理想。他的同事帕特森也说：”永远不要对交易模型过于信任。长期资本管理公司的基本错误是认为模型就是事实真相，我们从未相信我们的模型能够反映全部事实，它只反映事实的一部分。”\n宽客人生\n其实很多大佬的交集，远远超过我们想象。比如Thorp和巴菲特在桥牌桌上过过招，在确认巴菲特最终会成为全美最富有的人之后，果断投资了BRK的股票。很多人以为，学霸不一定会拥有好人生，毕竟，book smart和street smart之间的有极大的鸿沟，现实世界的规则比学校要复杂太多，但Thorp践行了将抽象思维运用到现实生活中的思维方式，真正诠释了“彪悍的人生不需要解释”，学术、财富、家庭圆满，很早就意识到在生活本身高于赚钱。相比较Thorp精彩纷呈的人生，Simons的人生曲折太多，离过婚，他的两个儿子先后遭受不幸，还遭遇过伙伴背叛。但最终还是选择和生活讲和，并投身慈善事业，从学术生涯到宽客人生，在跌宕起伏中探寻命运的真谛，而经历本身就是意义所在。就像Thorp在自传末尾所说：生活像是读一本小说或者跑一场马拉松，到达终点往往不是那么重要，旅途本身和沿途的体验更为珍贵。No body can take away the dance you have danced.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1099,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156855528,"gmtCreate":1625213694564,"gmtModify":1703738478449,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/156855528","repostId":"1168133884","repostType":4,"repost":{"id":"1168133884","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625021330,"share":"https://ttm.financial/m/news/1168133884?lang=en_US&edition=fundamental","pubTime":"2021-06-30 10:48","market":"fut","language":"zh","title":"Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5","url":"https://stock-news.laohu8.com/highlight/detail?id=1168133884","media":"老虎资讯综合","summary":"因美国独立日假期，7月5日（周一）美股休市一日，7月6日（周二）起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介：\n独立日是美国法定国庆日，日期为每年7月4日，以纪念1776年7月","content":"<p><b>Due to the Independence Day holiday in the United States, the U.S. stock market will be closed for one day on July 5 (Monday), and trading will resume on July 6 (Tuesday).</b></p><p>Hong Kong stocks, A-shares, British stocks, Australian stocks and Singapore stock markets are trading as usual.</p><p><b>Background brief:</b></p><p><b>Independence Day</b>It is a legal national day of the United States, which is dated on July 4th every year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776. Independence Day in the United States is as grand as religious and folk festivals. Before the festival, ordinary people clean their courtyards, decorate their homes and fly the national flag.<img src=\"https://static.tigerbbs.com/f87ddb03d9b4d56cf0dce9450e742016\" tg-width=\"626\" tg-height=\"417\"></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>Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5</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\">\nReminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed all day on July 5\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-30 10:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Due to the Independence Day holiday in the United States, the U.S. stock market will be closed for one day on July 5 (Monday), and trading will resume on July 6 (Tuesday).</b></p><p>Hong Kong stocks, A-shares, British stocks, Australian stocks and Singapore stock markets are trading as usual.</p><p><b>Background brief:</b></p><p><b>Independence Day</b>It is a legal national day of the United States, which is dated on July 4th every year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776. Independence Day in the United States is as grand as religious and folk festivals. Before the festival, ordinary people clean their courtyards, decorate their homes and fly the national flag.<img src=\"https://static.tigerbbs.com/f87ddb03d9b4d56cf0dce9450e742016\" tg-width=\"626\" tg-height=\"417\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/21dd6adec6b29203b5bca22347419441","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168133884","content_text":"因美国独立日假期，7月5日（周一）美股休市一日，7月6日（周二）起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介：\n独立日是美国法定国庆日，日期为每年7月4日，以纪念1776年7月4日大陆会议在费城正式通过《独立宣言》。美国的独立日，与宗教、民俗节日一样隆重，老百姓在节日前清洁院落，装饰家居，悬挂国旗。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":764,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159722713,"gmtCreate":1624981205032,"gmtModify":1703849502222,"author":{"id":"3571305293972802","authorId":"3571305293972802","name":"puah","avatar":"https://static.tigerbbs.com/28e10f2ac6e631dd9d794c3a57c13f69","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571305293972802","authorIdStr":"3571305293972802"},"themes":[],"htmlText":"H","listText":"H","text":"H","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/159722713","repostId":"1137606203","repostType":4,"repost":{"id":"1137606203","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624979680,"share":"https://ttm.financial/m/news/1137606203?lang=en_US&edition=fundamental","pubTime":"2021-06-29 23:14","market":"us","language":"zh","title":"[Change] AMD rose more than 3%, and the acquisition of Xilinx was approved by antitrust agencies","url":"https://stock-news.laohu8.com/highlight/detail?id=1137606203","media":"老虎资讯综合","summary":"6月29日，AMD盘中涨超3%，据英国竞争和市场管理局官网消息，AMD 350亿美元收购赛灵思的计划已经得到了批准。","content":"<p>On June 29, AMD rose more than 3% intraday. According to the official website of the British Competition and Markets Authority, AMD's US $35 billion acquisition of Xilinx has been approved.</p><p><img src=\"https://static.tigerbbs.com/049d5db8c8d130133e9ae5d4afaa67a9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>[Change] AMD rose more than 3%, and the acquisition of Xilinx was approved by antitrust agencies</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\">\n[Change] AMD rose more than 3%, and the acquisition of Xilinx was approved by antitrust agencies\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-29 23:14</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On June 29, AMD rose more than 3% intraday. According to the official website of the British Competition and Markets Authority, AMD's US $35 billion acquisition of Xilinx has been approved.</p><p><img src=\"https://static.tigerbbs.com/049d5db8c8d130133e9ae5d4afaa67a9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a593d85be38c3aa543ab3056553101ff","relate_stocks":{"AMD":"美国超微公司"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137606203","content_text":"6月29日，AMD盘中涨超3%，据英国竞争和市场管理局官网消息，AMD 350亿美元收购赛灵思的计划已经得到了批准。","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":497,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}