长按即可参与 市场全天震荡分化，三大指数涨跌不一，沪指一度站上3300点。截至收盘，沪指涨0.25%，深成指跌0.36%，创业板指跌0.82%。 板块方面，物流、统一大市场概念股集体走强，华鹏飞等多股涨停。跨境支付概念股震荡走高，青岛金王等涨停。农药、化肥概念股表现活跃，中 农联合涨停。 沪深两市全天成交额1.09万亿，较上个交易日放量486亿。 01 昨日京东发布《致全体外卖骑手兄弟们的公开信》，指"竞对平台再次玩起'二选一'游戏"。昨晚，普遍被认为是京东"开炮"对象的美团，回应否认 存在"二选一"行为。 京东指责美团要求骑手"二选一"，并高调招聘十万全职骑手，出台多项举措，包括保障被"封杀"骑手的单量、扩大全职骑手招聘规模、优先安置骑 手家属就业等，展现出善待骑手的积极姿态。美团则多次辟谣，强调尊重骑手多平台接单权利，并称京东配送时效短、运力不足导致订单延迟。 这场舆论战背后，是双方对即时配送能力的角力——京东依托物流基因扩大全职骑手规模，美团则凭借庞大兼职网络维持时效优势。对几大互联网 巨头而言，在用户增长见顶、获客成本飙升的背景下，即时零售的业务是一块不可多得的"大蛋糕"，前有抖音后有京东，都有虎视眈 ...

长按即可参与 "只要我不卖，就割不到我"——这句话曾激励无数投资者，但也道出不少人心中的无奈。它背后 折射出一个朴素的投资信念：投资嘛，只要长期拿着，总会回本的。但当经历投资周期的洗礼 后，许多投资者却发现，财富并没有随着时间流逝而增长，长期的持有反而变成了长期的苦难。 为什么我们持有这么久，却拿不到时间的回报？长期投资是市场的谎言吗？今天我们来谈谈，为 什么持有并不等于回本，为什么长期的投资对于绝大多数人变成了痛苦的无奈之举。 乐视网的案例堪称经典。2015年，作为"互联网+"概念的领军企业，乐视网风光无限，市值一度突 破1700亿元。彼时，无数投资者坚信只要持有这样一家"伟大的公司"，财富自然水到渠成。然 而，当公司治理出现问题，当商业模式经不起考验，当财务造假曝光，一切美好愿景都化为泡 影。2020年，乐视网最终退市，众多坚持"长期持有"的投资者血本无归。个股投资风险巨大，经 营失败、行业周期变迁或公司治理问题可能让长期持有者一无所获。 不仅是个股如此，即使是集合了众多股票的主动管理型基金，也并非"永生"。市场竞争激烈，投 资策略失效、管理团队变动等因素都可能导致基金业绩长期低迷，甚至最终走向清盘。不管 ...

长按即可参与 A股三大指数今日延续反弹态势，截止收盘，沪指涨0.45%，深证成指涨1.27%，创业板指涨1.59%。沪深两市成交额超一万亿，较上周五放量逾 千亿。 盘面上，随着黄金价格一路走高，A股黄金板块掀涨停潮，带动小金属集体走高，此外消费、跨境电商概念涨幅居前，银行板块领跌两市。 一起来看今天的热点。 01 黄金期货突破800元/克， 创造历史记录！ 今日，上期所黄金期货主力合约突破800元/克关口，再创历史新高。 COMEX黄金也拿下重要整数关口3400美元/盎司。 A股黄金板块也持续攀升，赤峰黄金、 晓程科技、莱绅通灵、潮宏基、鹏欣资源强势涨停。 | | 贵金属 | | | | --- | --- | --- | --- | | | 2170.13 (+191.40 +9.67%) | | | | 讨论 板块分析 | 成分股 | 相关ETF | 资讯 | | 全部(12) 连板 | 关注度 | 主力资金 | 北向净流 | | 名称 | 最新价 ◆ | 涨跌幅 ◆ | 市盈率 ◆ | | 晓程科技 | 21.20 | +19.98% | 124.77 | | SZ300139 | | | | | 赤峰 ...

以下文章来源于莱言维语 ，作者莱言维语 莱言维语 . 不定期分享对于投资的一些碎碎念 长按即可参与 我倒不是反对上面这些观点 ， 相反我也认可这些说法 ， 只是实在不希望大家在一个标的已经起飞的时候去 各种找利好和解释 ， 难道这些理由在没涨之前就不存在么 ？ 不如问问自己是不是因为涨了才信 ， 跌了还 信么 ？ （ 比如现在的美股 ？ 之前涨的理由现在还信么 ） 本来不想再聊黄金这个标的的 ， 毕竟在它没有正式起飞前我已经聊得够多了 ， 无奈还是很多人问 ， 那就 借此机会展开聊聊最近的一些体会 。 巴菲特与黄金 对于黄金很多人印象最深的应该是巴菲特曾多次公开表达对黄金投资的负面看法 ， 拿DS整理了下时间轴 ， 大概有以下这些 ： 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 作者： 莱言维语 来源：雪球 最近A股的行情温吞水 ， 涨么涨不上去 ， 跌么跌不下来 ， 外围的美股也是萎靡不振看不到啥整体向上的 希望 ， 本来没啥好聊的 。 唯独黄金一枝独秀 ， 几乎没啥大的回调一路年初涨到现在 ， 即使从月线的角度看也是以一种很夸张的斜率 从23年一路涨到现在 。 如 ...

长按即可参与 A股三大指数今日延续反弹态势，截止收盘，沪指涨0.45%，深证成指涨1.27%，创业板指涨1.59%。沪深两市成交额超一万亿，较上周五放量逾 千亿。 盘面上，随着黄金价格一路走高，A股黄金板块掀涨停潮，带动小金属集体走高，此外消费、跨境电商概念涨幅居前，银行板块领跌两市。 一起来看今天的热点。 01 黄金期货突破800元/克， 创造历史记录！ 今日，上期所黄金期货主力合约突破800元/克关口，再创历史新高。 COMEX黄金也拿下重要整数关口3400美元/盎司。 A股黄金板块也持续攀升，赤峰黄金、 晓程科技、莱绅通灵、潮宏基、鹏欣资源强势涨停。 | | | 贵金属 | | | | --- | --- | --- | --- | --- | | | | 2170.13 (+191.40 +9.67%) | | | | 讨论 | 板块分析 | 成分股 | 相关ETF | 资讯 | | 全部(12) | 连板 | 关注度 | 主力资金 | 北向净流 | | 名称 | | 最新价 = | 涨跌幅 ◆ | 市盈率 ◆ | | 晓程科技 | | 21.20 | +19.98% | 124.77 | | SZ3 ...

Core Viewpoint - The article emphasizes the importance of asset allocation thinking for stable investment, contrasting it with trading-oriented thinking, and suggests that a well-structured investment portfolio can mitigate market emotional disturbances [3]. Group 1: Definition and Types of Commodity ETFs - Commodity ETFs aim to track the performance of specific commodity prices or indices, providing indirect participation in the commodity market without the need to manage physical assets [4]. - Commodity ETFs are primarily divided into two categories: 1. Physical-backed ETFs, which are transparent and have clear management mechanisms but incur storage costs and potential liquidity risks [6]. 2. Non-physical-backed ETFs, which invest in related futures contracts and derivatives, covering various commodities like energy and agricultural products [6][7]. Group 2: Classification of Commodity ETFs - Commodity ETFs can be classified based on their usage direction: 1. Precious metals, primarily gold and silver, dominate the commodity ETF market, with gold ETFs accounting for over 90% of the total scale [8]. 2. Energy-related ETFs track prices of crude oil and natural gas, with significant volatility observed in products like crude oil [8]. 3. Agricultural ETFs, such as soybean meal ETFs, are limited in the domestic market, indicating a need for more diverse products [8]. 4. Industrial metals ETFs, which include copper and aluminum, are also scarce, with only a few products available [8]. Group 3: Economic Relevance and Investment Considerations - Commodity prices are highly correlated with inflation indicators and are crucial for economic development; commodity ETFs can hedge against inflation, with gold being a primary choice [9]. - A diversified combination of different commodity ETFs can mitigate risks associated with single commodity price fluctuations and adapt to market changes across various economic cycles [9]. - Despite their benefits, commodity ETFs present higher investment difficulties compared to traditional stock and bond products, requiring substantial investment experience and awareness of unique risks [9].

长按即可参与 4月17日，美国总统特朗普在社交媒体上连续三次猛烈抨击美联储主席鲍威尔，措辞之严厉前所 未有。他指责鲍威尔"又迟又错"，并直言"鲍威尔早该被解雇了"。 周末，消息还在持续发酵，据媒体最新，当地时间4月18日，白宫国家经济委员会主任凯文·哈塞 特证实，美国总统特朗普及其团队正在继续研究能否解雇美联储主席鲍威尔。 01 特朗普"火力全开"：一天三次点名炮轰鲍威尔 4月17日，美国总统特朗普在其社交媒体平台"真实社交"上连续发布三条针对美联储主席鲍威尔 的尖锐批评，将两人长期积累的矛盾彻底公开化。 特朗普在第一条帖子中写道："鲍威尔16日发布的报告又是一团糟。他早就应该像欧洲央行一样 降低利率，然而他总是太迟又犯错。"第二条则更加直接："鲍威尔应该尽早下台。"第三条甚至威 胁道："如果我想让他离开，他很快就会离开的。我对他不满意。" 这也并非特朗普首次公开批评鲍威尔，自2018年以来，特朗普就因利率政策与鲍威尔多次发生冲 突。在第一个任期内，特朗普曾私下讨论解雇鲍威尔的可能性，并公开称美联储疯了。如今，随 着2024年大选周期的临近，特朗普对美联储的施压明显升级。 目前看，相关法律条文存在模糊地带。《 ...

Core Viewpoint - In the current market environment characterized by high inflation and low interest rates, stable cash flow has become a consensus among investors. The "Dividend Index" has emerged as a star player in portfolio allocation due to its continuous dividends and relatively low volatility. However, with an increasing number of dividend indices claiming superiority, it is essential to evaluate which index strikes the best balance between "rich returns" and "controllable risks" [3][4]. Analysis and Discussion What Constitutes a Good Dividend Index? - A good dividend index must meet five criteria: 1. **Authenticity**: Trust in real cash dividends rather than inflated claims [5]. 2. **Clear Standards**: A transparent selection and weighting methodology for constituent stocks [5]. 3. **Diversification**: A well-diversified index to avoid concentration in a few companies or industries [5]. 4. **Stable Returns**: The ability to maintain dividends during market fluctuations, avoiding "pseudo-dividends" that drop sharply after initial high payouts [5]. 5. **High Dividend Yield**: A historically high and sustainable dividend yield that outperforms the industry average [5]. Comparison and Analysis of Dividend Indices - The analysis includes 30 dividend indices categorized into four types: 1. **Ordinary Dividends**: Focused primarily on dividend yield, such as the CSI Dividend and SSE Dividend. 2. **State-Owned Enterprise Dividends**: High dividend stocks selected from state-owned enterprises. 3. **Low Volatility Dividends**: Stocks with low volatility combined with dividends. 4. **Other Dividends**: Unique indices that combine dividends with other factors like quality and value [7][8]. Ratings of Dividend Indices - The ratings of the 30 dividend indices are as follows: - **5 Stars**: 2 indices (CSI Dividend, Low Volatility 100) - **4 Stars**: 4 indices (SSE Dividend, State-Owned Enterprise Dividend, 300 Low Volatility) - **1 Star**: 5 indices (Shenzhen Dividend, Hong Kong Stock Connect Low Volatility, Consumer Dividend, Dividend Quality, Dividend Potential) [18]. Basic Data Comparison of Dividend Indices - Key metrics for the indices include dividend yield, PE ratio, annualized returns over five years, volatility, and Sharpe ratio. For instance, the CSI Dividend has a dividend yield of 6.5% and a PE ratio of 7.9, indicating a favorable position compared to others [20][21]. Fund Representation and Scale - The number of passive funds tracking these indices varies significantly. The CSI Dividend and Low Volatility 100 are highlighted as having a higher number of tracking funds, which may indicate better management and competition [23][26]. Conclusion - The analysis provides insights into the performance and characteristics of various dividend indices, helping investors make informed decisions based on their risk preferences and investment goals [3][5][7].

以下文章来源于兵哥事务所 ，作者Slumdog Millionaire 兵哥事务所 . 尤其是美国还是蓝星上的霸主 ， 就特别离谱 。 股票进攻，指数基金平衡，保险防守，深度剖析金融本质，为您的家庭财富配置保驾护航。 长按即可参与 风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 作者：贫民窟的大富翁 来源：雪球 特朗普是世界历史上第一个靠一己之力把自己国家搞出股债汇三杀危机的 ！ 美国人过幸福生活根本原因是有着 " 无中生有 " 的金融本事 ， 靠着空气+信用就可以从全球其 他国家换取真正的商品和服务 。 这里最重要的就是美国国债 ， 我们简称美债 。 截至2025年3月 ， 美国国债总额约36.6万亿美元 ， 其中约40%是2020-2021年疫情期间发行 的低利率债券 。 这些债券的利率普遍在0.5%-1.5%之间 ， 例如 ： 2020年4月发行的10年期国债利率为0.66% 。 2021年1月发行的30年期国债利率为1.2% 。 疫情期间美国为了刺激经济增长 ， 把十年期国债收益率打到了0.66% ， 美国政府开启政府消费 大时代 ， 向全世界借钱 ， 在国内直升 ...

Group 1 - The article discusses the basic principles of trade, emphasizing that trade surplus is a means while trade deficit is an end goal, ultimately for spending money [2] - It highlights that in international trade, the U.S. has maintained a trade deficit for decades, which is unsustainable in the long run [7][10] - The article points out that the U.S. dollar's status as the world's reserve currency allows the country to print money and maintain a trade deficit, but this creates a looming risk if the dollar's credibility is questioned [8][10] Group 2 - The article argues that the U.S. faces two major problems: the credibility of the dollar is under scrutiny, and the manufacturing sector is being pressured by global competition, particularly from China [10][13] - It suggests that the current administration's contradictory policies aim to maintain the dollar's international status while also seeking a trade surplus, which is inherently impossible [15] - The article emphasizes that high tariffs may increase trade friction costs but will not necessarily lead to the intended outcomes due to issues like transshipment and smuggling [18][19] Group 3 - The article discusses the implications of rising U.S. Treasury yields, noting that a sudden increase could lead to higher borrowing costs for companies and potentially trigger widespread bankruptcies [26][27] - It warns that a significant drop in Treasury prices could undermine the dollar's credibility, leading to a feedback loop where countries start selling off U.S. debt [29][30] - The article concludes that investors should focus on valuation rather than being swayed by political rhetoric, as the complexities of the global economy are far more significant than any single political figure [20][21]