🌻風險管理

跌了幾十趴的個股還要繼續抱下去嗎? 去年飆漲的SPAC, 今年還漲的回來嗎?(可以跟下篇一起看).

開始玩成長股後, 我學到最難的一堂課是風險控制. 每個人對風險控制的觀念不一樣, 這跟每個人的心理素質也有關係.

風險管理, 也就是"留得青山在, 不怕沒柴燒".

風險管理:
https://zh.wikipedia.org/wiki/%E9%A3%8E%E9%99%A9%E7%AE%A1%E7%90%86

🌻There Are Too Many Defenseless(無防禦性的) Stocks
(可以的話, 我希望您可以好好讀一下這篇文章. 我希望能夠幫您守住些財富, 減少些損失, 甚至創造些獲利. "Too many", 也就代表了股票沒有稀有性)

The underwriters just created too many stocks. There's too many new companies, too many companies that help you with analytics(分析), too many that offer video, too many data collectors and too many real-time analysis, and too many cybersecurity companies. There's been too many new electric vehicle derivatives, too many cannabis (大麻) plays and way too many new fintechs(金融科技).

The effect? We are now facing a bewildering number of companies that simply do the same things and can't be differentiated (無差異性的) and, frankly, are too hard to understand unless you are deeply involved in the transfer of data from on your premises to the cloud(雲端).

Why does this matter?

Because these stocks are defenseless. They are defenseless against inflation (通膨) because so many of them sell at a multiple to sales and any company that trades as a multiple to sales (指的是以P/S為估值方式, 非傳統的P/E. 軟體公司主要是用P/S) will see its value erode more quickly than any other in this stock market because the company has to graduate from a multiple to sales to a multiple of earnings, or just keep losing money. So many new investors have not experienced real inflation where these kinds of stocks can't be given away.

They are defenseless against an economic boom. I have been reading through countless software as a whatever with a go to market strategy and a huge TAM (total addressable market, 指的是市場大小) to land and expand(指的是雲端公司的商業模式), and my eyes glaze over. Who needs a company with all of those buzzwords that's growing at 27% and losing money when I have plenty of high quality industrials that are growing at 27% and spewing cash to the point the biggest issue is how much should be put to growth versus rewarding shareholders.

They are defenseless against older companies with a balanced policy toward dividends and buybacks, so that supply is mopped up while demand is bolstered by a yield. The land and expanders don't have anything backing them up which makes them vulnerable to sudden shocks down as we have seen.

They are defenseless against insider selling. If capital gains rates are going up, these are the companies with the most vulnerable stocks because so many of the people in these new companies have stocks that are still up substantially from when they got stock so a company with a stock down 30%-40% is vulnerable from scads of insider selling, including secondaries I am now expecting with increasing frequency.

They are defenseless against SPACs. While there are many good SPACs there are too many SPACs with too much stock sloshing around. I keep thinking about that MP Materials (MP) secondary offering in late March, where entities controlled by CEO James Litinsky sold 4.6 million shares of his company in a deal priced at $35. Now it is a small percentage of his holdings and many others involved with the company sold small amounts, too. That's not the point. It's more of a statement: this stock traded at $50. You might have been inclined to buy on the pullback but you would have been massacred as the stock is now at $27. If you have a so-called successful SPAC its success might be measured by how much money you took out of it before its stock fell by 50%. There are hundreds of things and when you consider all of the warrants out there, you know this market is going to be overwhelmed with this stuff.

You aren't going to see these kinds of secondaries at Deere (DE) or Caterpillar (CAT) , that's for certain.

Now there are people out there willing to buy the incredibly almost stupidly risky stocks, people like Cathie Wood, who demonstrated her unflappable conviction to her method of buying stocks that worked when there's scarcity value but there's anything but that now.

Maybe she can take down tens of billions of dollars worth and save the day. I wouldn't count on it. I am sorry to question her stock picking, lord knows she's been amazing. But unless others copy her, we know the stocks she is buying resemble what's not working at all. Maybe someday, but not now.

I try to figure out what the end game for these stocks might be if the economy keeps heating up and inflation accelerates. There's simply not enough money from young people or ETFs based on high growth or Cathie Wood to keep these stocks higher, and there's too much opportunity for the insiders to do what MP did, something that crunched the stock even as it reported a quarter ahead of expectations, which meant something at one point but means absolutely nothing now. Nothing at all.

文章來源: https://realmoney.thestreet.com/jim-cramer/jim-cramer-there-are-too-many-defenseless-stocks-15649142

Picture來源:
https://society6.com/product/boxing-cat_print

いろいろな種類の液体を使用しました。ドライアイス、霧吹き、氷水など涼やかなそれぞれの水音をたっぷりお楽しみください！

🎧無言のASMRです。ヘッドホン・イヤホンの使用をおすすめします。This video is Notalking ASMR. Please wear earphones or headphones.

■タイムライン
0:00:00 プレビュー（Preview）
0:02:07 ドライアイス（Dry ice）
0:09:00 霧吹き（Spray）
0:14:57 氷水（Ice water）
0:17:51 炭酸（Sparkling water）
0:19:26 ちゃぷちゃぷ（Sloshing sound）
0:25:22 マッサージオイル（Massage oil）
0:30:09 アイシングバッグ（Ice bag）
0:36:47 アロエジェル（Aloe gel）
0:41:38 炭酸、ハンドムーブメント（Sparkling water, Hand movements）
0:45:16 ぶくぶく、ハンドムーブメント（blub-blub, Hand movements）
0:49:10 雨、ハンドムーブメント（Rain sound, Hand movements）
0:53:38 滴、ハンドムーブメント（Drop sound, Hand movements）
0:57:46 炭酸、氷水、ハンドムーブメント（Sparkling water, Ice water, Hand movements）
0:59:40 ぶくぶく、ちゃぷちゃぷ、ハンドムーブメント（blub-blub, Sloshing sound, Hand movements）
1:01:40 アイシングバッグ、マッサージオイル、ハンドムーブメント（Ice bag, Massage oil, Hand movements）
1:04:40 滴、アロエジェル、ハンドムーブメント（Drop sound, Aloe gel, Hand movements）
1:09:07 ぶくぶく、霧吹き、ハンドムーブメント（blub-blub, Spray, Hand movements）
1:15:01 雨、ちゃぷちゃぷ、ハンドムーブメント（Rain sound, Sloshing sound, Hand movements）
1:22:04 ドライアイス、滴、ハンドムーブメント（Dry ice, Drop sound, Hand movements）
1:28:20 滴、ハンドムーブメント（Drop sound, Hand movements）

■水音の他の動画はこちら
癒しの水音と眠りに導くゆったりした動き
https://youtu.be/fDwrxDrEOtE
刺激的なしゅわしゅわ強炭酸水で耳を包む音とハンドムーブメント
https://youtu.be/9hppJaF5R9c
心落ち着く雨音 | 水音 | オノマトペ | ハンドムーブメント
https://youtu.be/czLpL43oGn4

■Twitter
http://twitter.com/karin_asmr

■華凛オリジナルスウェット発売中！
https://vvstore.jp/feature/detail/13128/
※店舗での販売予定無

■字幕制作にご協力ください。
http://www.youtube.com/timedtext_cs_panel?c=UCjjhHEM9U9CDNIkOFFwzeoA&tab=2

Relax sounds #409
#ASMR #華凛

Subscribe for more awesome videos! ► https://bit.ly/2M1H2Fy

Main: Sloshing Machine Neo
Sub: Point Sensor
Special: Inkzooka

Head: Sun Visor
Clothes: Olive Ski Jacket
Shoes: Neon Sea Slugs

Mode: Turf War

Stages: Hammerhead Bridge, Piranha Pit

The Sloshing Machine Neo is an interesting weapon. It's kind of like a weak Blaster in that it has a mini explosion at the end. It's also more accurate and fires more quickly than a Blaster.

I didn't use the Point Sensor too often, but when I was successful in spotting an enemy-Inkling, it was very useful. I'm still trying to figure out when to use it and when to just approach with my Main.

Luckily, one of the stages was Hammerhead Bridge, which is one of the best maps for Sloshers. Although the Sloshing Machine Neo isn't a Slosher, it was still effective on this stage.


Check out my Playlist of all my Montages from Splatoon: https://www.youtube.com/playlist?list=PLDOrSWB5YEl-7QNp5LKe9qlmxbs8hhGq1

Subscribe for more awesome videos! ► https://bit.ly/2M1H2Fy

Main: Sloshing Machine
Sub: Splat Bomb
Special: Bomb Rush

Head: Lightweight Cap
Clothes: Squidmark LS
Shoes: Snowy Down Boots

Mode: Turf War

Stages: Kelp Dome, Ancho-V Games, Urchin Underpass, Camp Triggerfish

This should be called the Splat Bomb Montage Featuring the Sloshing Machine, lulz. There were no amazing Chargers or Dynamo Rollers today, so I had more fun. With this weapon, I often surprisingly found myself topping 700 points before the +300 Victory-bonus. Therefore, I must conclude that this is a decent weapon for inking turf.


Check out my Playlist of all my Montages from Splatoon: https://www.youtube.com/playlist?list=PLDOrSWB5YEl-7QNp5LKe9qlmxbs8hhGq1