[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcioe0ffea0f":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcioe0ffea0f","大摩高管：美股散户对热门股的狂热让我“夜不能寐”","\u002Fdoc\u002F大摩高管美股散户对热门股的狂热让我夜不能寐_948525638","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>近期，美股散户投资者热情高涨，资金涌入高风险领域，这被认为是一种牛市接近尾声的“危险信号”。\u003C\u002Fp>\n\u003Cp>2月19日，摩根士丹利投资管理公司高级投资组合经理Andrew Slimmon在接受媒体采访中表示，\u003Cstrong>“最让我夜不能寐的是散户对热门股票的狂热追捧。这种狂热通常出现在牛市的末尾，而我们正迅速进入乐观阶段。”\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp>\u003Cspan class=\"qnt-link\">巴克莱银行\u003C\u002Fspan>股票策略部门的数据显示，\u003Cstrong>截至1月底，散户投资者的股票敞口已达到自1997年有记录以来的96%分位\u003C\u002Fstrong>。\u003Cspan class=\"qnt-link\">摩根大通\u003C\u002Fspan>Emma Wu指出，散户投资者的情绪也达到了历史最高点，甚至超过了2021年“meme股”狂潮时期的水平。\u003C\u002Fp>\n\u003Cp>下图显示散户净买入在美股总市值中的占比走势：\u003C\u002Fp>\n\u003Cp>\u003Cimg style=\"display: block; margin-left: auto; margin-right: auto;\" src=\"https:\u002F\u002Finews.gtimg.com\u002Fom_bt\u002FOIgxtA1559OrI3uOrQieWHDElOWc-Qg6qpCR_bOTfIgZEAA\u002F641\" alt=\"图片\">\u003C\u002Fp>\n\u003Cp>追踪无盈利科技股的 ARK Innovation ETF（ARKK）在过去三个月上涨了约20%，而备受散户青睐的 \u003Cspan class=\"qnt-link\">PLTR\u003C\u002Fspan> 今年以来更是飙升近50%。\u003C\u002Fp>\n\u003Cp>尽管标普500指数逼近历史高点，但市场风险依然不容忽视。贸易紧张局势、美联储维持高利率的意图，以及美国大型公司能否将人工智能领域的大量投资转化为利润，都给市场带来了不确定性。\u003C\u002Fp>\n\u003Cp>Slimmon 认为，美联储“按兵不动”的表态有助于降低市场热度，“如果市场能稍微平静一点，我会很高兴。”\u003C\u002Fp>\n\u003Cp>回顾过去两年，标普500指数均实现了两位数的回报。\u003Cstrong>Slimmon 预计，2025年市场波动将成为常态。由于许多投资者在高位入市，一旦出现任何不利消息，他们更有可能触发“恐慌按钮”，抛售股票。\u003C\u002Fstrong>\u003C\u002Fp>\n\u003Cp>“这就是为什么第三年往往会出现更大的波动，回报也会更低，”Slimmon 解释道，“但如果对这些量子人工智能类股票的购买热潮没有那么强烈，那么出现更深层次冲击的可能性就会降低。”\u003C\u002Fp>\n\u003Cp>尽管对短期市场前景感到担忧，Slimmon 并没有完全悲观，他认为在过去两年推动股市上涨的大型科技巨头之外，仍存在投资机会。今年年初，所谓的“七巨头”股票指数仅上涨1.2%，涨势有所放缓。\u003C\u002Fp>\n\u003Cp>\u003Cstrong>Slimmon 看好的一个领域是金融板块。\u003C\u002Fstrong>“我并不是在押注这些（科技）股票下跌，”他说，“我认为市场出现更广泛的上涨是健康的。”\u003C\u002Fp>\n\u003Cp>值得一提的是，Slimmon 在过去两年准确预测了标普500指数的上涨趋势，甚至在2023年大多数华尔街预测人士预计股市下跌时，他仍呼吁投资者买入。\u003C\u002Fp>","https:\u002F\u002Fstockwewebfiles.blob.core.windows.net\u002Fweb-202502-stk\u002FUploaderlmqfy4i2hbs_2025_02_19_23_25_33.jpeg","2025-02-20T02:27:57.633","2025.02.20","2025\u002F02\u002F20",32228,[22],"PLTR","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cimg style=\"display:block;margin-left:auto;margin-right:auto;\" src=\"https:\u002F\u002Fstockwewebfiles.blob.core.windows.net\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":68,"summaryHtml":73,"aboutTitle":74,"aboutHtml":75,"copyrightHtml":76},[44,47,50,53,56,59,62,65],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fplan",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":60,"url":61},"美股课程","\u002Fcol\u002Fvideos",{"label":63,"url":64},"免责声明","\u002Fdisclaimer",{"label":66,"url":67},"联系我们","\u002FContactUs",[69,70,71,72],"https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]