<p>在华尔街，数据是最有价值的东西。投资者面临的唯一问题是，跟上最新数据发布是一项艰巨的任务，可能会让一些重要信息被忽视。</p>
<p>例如，可以说第二季度最重要的数据发布发生在 5 月 15 日。但由于这正值财报季的开始，并且与联邦政府的重要经济数据发布紧密相连，投资者可能会忽视 5 月 15 日向证券交易委员会提交的 13F 表格的截止日期。</p>
<p>13F 是机构投资者在季度结束后不迟于 45 个日历日内必须提交的文件，管理资产规模至少为 1 亿美元（AUM）。它提供了华尔街知名资金经理在最新季度购买和出售的股票的简明快照。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI4MzEvc3RvY2stdHJhZGVyLWFuYWx5c3QtZnVuZC1tYW5hZ2VyLWJ1eS1zZWxsLWNoYXJ0LWRlY2xpbmUtYmVhci1tYXJrZXQtc21hcnRwaG9uZS1nZXR0eS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI4MzEvc3RvY2stdHJhZGVyLWFuYWx5c3QtZnVuZC1tYW5hZ2VyLWJ1eS1zZWxsLWNoYXJ0LWRlY2xpbmUtYmVhci1tYXJrZXQtc21hcnRwaG9uZS1nZXR0eS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<p>尽管 13F 文件远非完美——因为它们在季度结束后最多提交 45 个日历日，可能会为活跃的对冲基金提供过时的快照——但它们提供了关于哪些股票和趋势引起华尔街最成功资产管理者兴趣的关键洞察。</p>
<p>虽然沃伦·巴菲特是股市上最著名的亿万富翁投资者，但他并不是唯一以其卓越回报或关键洞察而闻名的基金经理。第三点的亿万富翁首席丹·洛布是另一位资产管理者，投资者通常会密切关注他的价值眼光。</p>
<p>在截至 3 月的季度中，洛布果断地抛售了四只 “七大奇迹” 股票，其中 <strong>特斯拉</strong>(TSLA -0.54%) 可能是最引人注目的。同时，专注于价值的洛布则大量购买了一只品牌知名、高收益的分红股票，该股票在不到两年的时间里价值翻了一番。</p>
<h2>亿万富翁丹·洛布将特斯拉的股票送上了 chopping block</h2>
<p>在讨论之前，丹·洛布经营着一只相对活跃的基金，该基金在 3 月季度结束时的管理资产超过 65 亿美元，分布在 45 个头寸中。洛布在这 45 个头寸中的平均持有时间仅为 4.5 个季度，或大约 13.5 个月。简而言之，他表现出在证券出现明显上涨时锁定收益的意愿。</p>
<p>在 2024 年第三季度，即第三点首次收购电动车制造商特斯拉的股份时，到 2025 年第一季度，所有 500,000 股特斯拉股票被出售时，这一头寸在某个时刻价值翻了一番。洛布有充足的动力来锁定其基金的短期收益。</p>
<p>根据洛布的初始投资和卖出活动的时机，他基金在特斯拉的持股可能是基于对公司在 11 月受益于唐纳德·特朗普胜利的预期。特斯拉首席执行官埃隆·马斯克被认为在特朗普政府中扮演了角色——他后来成为政府效率部（DOGE）的特别员工——这被认为对他公司的长期增长目标是积极的。</p>
<p>但随着这个故事的发展，特斯拉运营中出现的一些红旗可能促使亿万富翁丹·洛布选择撤退。</p>
<p>特斯拉面临的一个更明显的问题是公司的车辆利润率下降。尽管更高的能源和储存收入在一定程度上帮助抵消了电动车需求的疲软，但由于竞争加剧，特斯拉的电动车系列经历了超过六次大幅降价，导致其车辆利润率受到侵蚀。</p>
<p>更糟糕的是，特斯拉的 Cybertruck 似乎是一场失败。尽管马斯克此前声称他的公司有超过 100 万份 Cybertruck 的预订，但在 3 月宣布的召回中，涉及 2023 年 11 月 13 日至 2025 年 2 月 27 日生产的 Cybertruck，召回的车辆数量仅接近 46,100 辆。这与马斯克曾声称的 “需求超出预期” 相去甚远。</p>
<p>这反映了马斯克的创新（通常）未能实现的更广泛问题。尽管马斯克监督推出了一些新电动车，并将特斯拉多元化为能源生产和储存提供商，但他对 “明年” 实现的 5 级自动驾驶的承诺已经连续 11 年未能兑现。此外，位于德克萨斯州奥斯汀的初始机器人出租车推出仅限于 10 辆车辆，并且地理围栏限制在一个小范围内。</p>
<p>如果将马斯克未兑现的承诺从特斯拉的估值中剔除，其股价和近 120 的天文数字前瞻市盈率将会暴跌。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI4MzEvd29tYW4tdGFsay1zbWFydHBob25lLWNpdHktd2lyZWxlc3MtNWctNGctZGF0YS12b2ljZW1haWwtZ2V0dHkuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI4MzEvd29tYW4tdGFsay1zbWFydHBob25lLWNpdHktd2lyZWxlc3MtNWctNGctZGF0YS12b2ljZW1haWwtZ2V0dHkuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>洛布的第三点已大量投资于一只不可阻挡的高收益分红股票</h2>
<p>然而，第三点的亿万富翁首席在截至 3 月的季度中也购买了部分股票。尽管开设了近十个新头寸，但可以说没有哪一只股票比购买了 3,775,000 股高收益分红股票 <strong>AT&amp;T</strong>(T 0.41%) 更引人注目。</p>
<p>两年前，投资者似乎对 AT&amp;T 和大型电信公司毫无兴趣。2023 年 7 月，《华尔街日报》的一份报告称，AT&amp;T 和其他美国电信公司拥有一张包裹在有毒铅中的遗留电缆网络。《华尔街日报》暗示，清理成本和健康责任可能对遗留电信公司来说是巨大的。</p>
<p>最终，AT&amp;T 及其同行否认了报告的发现。即使美国传统电信提供商在未来可能面临某种形式的责任，这几乎肯定会在美国法院系统中裁定，而该系统以缓慢著称。2023 年 7 月被视为对 AT&amp;T 的严重威胁的事情迅速被视为短期噪音。自那时以来，AT&amp;T 的股价已从 2023 年 7 月的低点翻了一番。</p>
<p>尽管 AT&amp;T 最辉煌的增长时期早已过去，但仍然有一些催化因素对公司有利。</p>
<p>例如，AT&amp;T 升级并稳步扩展其 5G 网络的覆盖范围，导致了持续的后付费手机新增用户和移动销售增长，通常在低到中个位数之间。由于智能手机和互联网的接入实际上已演变为基本需求，AT&amp;T 享有历史上低于 1% 的后付费手机流失率。</p>
<p>此外，自 5G 推出以来，宽带注册人数也出现了复苏。AT&amp;T 在连续 21 个季度（超过五年）中至少增加了 200,000 名宽带服务净客户，接近 3000 万的 AT&amp;T Fiber 消费者和商业用户。尽管宽带不再是世纪初的增长故事，但它仍然是运营现金流的一个极佳来源，并可以用作鼓励高利润服务捆绑的工具。</p>
<p>或许最重要的是，自 2022 年剥离其内容部门华纳媒体以来，AT&amp;T 显著改善了其财务灵活性。这次剥离使华纳媒体与 Discovery 合并，形成了 <strong>华纳兄弟探索</strong>，导致该新媒体实体承担了某些债务。2022 年 3 月 31 日，AT&amp;T 的净债务为 1690 亿美元，而三年后的今天已降至 1191 亿美元。</p>
<p>最后，AT&amp;T 提供近 4% 的年收益率，并在历史上高价的股市中拥有合理的前瞻市盈率 12.7。</p>

特斯拉

2 倍做空特斯拉 ETF - GraniteShares

2 倍做多特斯拉 ETF - Direxion

2 倍做空特斯拉 ETF - Tradr

XI二南特斯-U

南方两倍做多特斯拉

南方两倍做空特斯拉

2 倍做多 TSLA ETF - GraniteShares

<p>亿万富翁丹·洛布出售了第三点公司在特斯拉的全部股份，该股份自他最初投资以来价值翻了一番，转而投资于高收益的分红股票。洛布的决定是在对特斯拉车辆利润下降和 Cybertruck 表现不佳的担忧中做出的。尽管最初对特斯拉与政治因素相关的增长潜力持乐观态度，但持续的运营问题和首席执行官埃隆·马斯克未兑现的承诺导致对该投资的重新评估。洛布的基金以其积极的管理风格而闻名，继续寻求更稳定投资中的价值</p>

<p>Nothing is more valuable on Wall Street than data. The only problem for investors is that keeping atop the latest data releases is a daunting task that can allow something of importance to slip through the cracks.</p>
<div class="lb-trans"><p>在华尔街，数据是最有价值的东西。投资者面临的唯一问题是，跟上最新数据发布是一项艰巨的任务，可能会让一些重要信息被忽视。</p>
</div><p>For example, what can arguably be described as the most important data dump of the second quarter occurred on May 15. But because it was at the start of earnings season and packaged so closely to important economic data releases from the federal government, investors might have overlooked the May 15 filing deadline for Form 13Fs with the Securities and Exchange Commission.</p>
<div class="lb-trans"><p>例如，可以说第二季度最重要的数据发布发生在 5 月 15 日。但由于这正值财报季的开始，并且与联邦政府的重要经济数据发布紧密相连，投资者可能会忽视 5 月 15 日向证券交易委员会提交的 13F 表格的截止日期。</p>
</div><p>A 13F is a required filing no later than 45 calendar days following the end to a quarter by institutional investors with at least $100 million in assets under management (AUM). It provides a concise snapshot of which stocks Wall Street's prominent money managers purchased and sold in the latest quarter.</p>
<div class="lb-trans"><p>13F 是机构投资者在季度结束后不迟于 45 个日历日内必须提交的文件，管理资产规模至少为 1 亿美元（AUM）。它提供了华尔街知名资金经理在最新季度购买和出售的股票的简明快照。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI4MzEvc3RvY2stdHJhZGVyLWFuYWx5c3QtZnVuZC1tYW5hZ2VyLWJ1eS1zZWxsLWNoYXJ0LWRlY2xpbmUtYmVhci1tYXJrZXQtc21hcnRwaG9uZS1nZXR0eS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F822831%2Fstock-trader-analyst-fund-manager-buy-sell-chart-decline-bear-market-smartphone-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>Even though 13Fs are far from perfect -- since they're filed up to 45 calendar days following the end to a quarter, they may present a stale snapshot for an active hedge fund -- they offer key insights as to which stocks and trends have piqued the interest of Wall Street's most-successful asset managers.</p>
<div class="lb-trans"><p>尽管 13F 文件远非完美——因为它们在季度结束后最多提交 45 个日历日，可能会为活跃的对冲基金提供过时的快照——但它们提供了关于哪些股票和趋势引起华尔街最成功资产管理者兴趣的关键洞察。</p>
</div><p>While Warren Buffett is the stock market's most famous billionaire investor, he's not the only fund manager known for their phenomenal returns or key insights. Third Point's billionaire chief Dan Loeb is another asset manager with a keen eye for value that investors usually keep close tabs on.</p>
<div class="lb-trans"><p>虽然沃伦·巴菲特是股市上最著名的亿万富翁投资者，但他并不是唯一以其卓越回报或关键洞察而闻名的基金经理。第三点的亿万富翁首席丹·洛布是另一位资产管理者，投资者通常会密切关注他的价值眼光。</p>
</div><p>During the March-ended quarter, Loeb was a decisive seller of four &#34;Magnificent Seven&#34; stocks, perhaps none of which stands out more than <strong>Tesla</strong>(TSLA -0.54%). Meanwhile, the value-focused Loeb piled into a brand-name, high-yield dividend stock that's managed to double in value in less than two years.</p>
<div class="lb-trans"><p>在截至 3 月的季度中，洛布果断地抛售了四只 “七大奇迹” 股票，其中 <strong>特斯拉</strong>(TSLA -0.54%) 可能是最引人注目的。同时，专注于价值的洛布则大量购买了一只品牌知名、高收益的分红股票，该股票在不到两年的时间里价值翻了一番。</p>
</div><h2>Billionaire Dan Loeb sent shares of Tesla to the chopping block</h2>
<div class="lb-trans"><h2>亿万富翁丹·洛布将特斯拉的股票送上了 chopping block</h2>
</div><p>To preface this discussion, Dan Loeb operates a relatively active fund that ended the March quarter with more than $6.5 billion in AUM spread across 45 positions. Loeb's average hold time among these 45 positions is just 4.5 quarters, or roughly 13.5 months. In short, he's demonstrated a willingness to lock in gains when presented with a decisive move higher in a security.</p>
<div class="lb-trans"><p>在讨论之前，丹·洛布经营着一只相对活跃的基金，该基金在 3 月季度结束时的管理资产超过 65 亿美元，分布在 45 个头寸中。洛布在这 45 个头寸中的平均持有时间仅为 4.5 个季度，或大约 13.5 个月。简而言之，他表现出在证券出现明显上涨时锁定收益的意愿。</p>
</div><p>Between the third quarter of 2024, which is when Third Point first acquired shares of electric-vehicle (EV) maker Tesla, and the first quarter of 2025, which is when all 500,000 shares of Tesla were sold, this position, at one point, more than doubled in value. Loeb had ample incentive to lock in his fund's short-term gains.</p>
<div class="lb-trans"><p>在 2024 年第三季度，即第三点首次收购电动车制造商特斯拉的股份时，到 2025 年第一季度，所有 500,000 股特斯拉股票被出售时，这一头寸在某个时刻价值翻了一番。洛布有充足的动力来锁定其基金的短期收益。</p>
</div><p>Based on the timing of Loeb's initial investment and selling activity, it's possible his fund's stake in Tesla was based on the expectation of the company benefiting from a Donald Trump victory in November. Tesla CEO Elon Musk was touted as having a role in the Trump administration -- he went on to be a special employee for the Department of Government Efficiency, or DOGE -- which was expected to be a positive for his company's long-term growth ambitions.</p>
<div class="lb-trans"><p>根据洛布的初始投资和卖出活动的时机，他基金在特斯拉的持股可能是基于对公司在 11 月受益于唐纳德·特朗普胜利的预期。特斯拉首席执行官埃隆·马斯克被认为在特朗普政府中扮演了角色——他后来成为政府效率部（DOGE）的特别员工——这被认为对他公司的长期增长目标是积极的。</p>
</div><p>But with this story having been played out, a number of red flags associated with Tesla's operations may have encouraged billionaire Dan Loeb to head for the hills.</p>
<div class="lb-trans"><p>但随着这个故事的发展，特斯拉运营中出现的一些红旗可能促使亿万富翁丹·洛布选择撤退。</p>
</div><p>One of the more glaring issues with Tesla has been the company's declining vehicle margin. Though higher energy and storage revenue has helped to somewhat offset EV demand weakness, more than a half-dozen sweeping price cuts on Tesla's fleet of EVs from growing competition has sapped its vehicle margin.</p>
<div class="lb-trans"><p>特斯拉面临的一个更明显的问题是公司的车辆利润率下降。尽管更高的能源和储存收入在一定程度上帮助抵消了电动车需求的疲软，但由于竞争加剧，特斯拉的电动车系列经历了超过六次大幅降价，导致其车辆利润率受到侵蚀。</p>
</div><p>To add fuel to the fire, Tesla's Cybertruck looks to be a flop. Despite Musk previously claiming that his company had over 1 million reservations for Cybertruck, a recall announced in March of Cybertrucks manufactured from Nov. 13, 2023 to Feb. 27, 2025 showed this recall covered just shy of 46,100 vehicles. That's a far cry from &#34;demand being off the charts,&#34; as Musk once touted.</p>
<div class="lb-trans"><p>更糟糕的是，特斯拉的 Cybertruck 似乎是一场失败。尽管马斯克此前声称他的公司有超过 100 万份 Cybertruck 的预订，但在 3 月宣布的召回中，涉及 2023 年 11 月 13 日至 2025 年 2 月 27 日生产的 Cybertruck，召回的车辆数量仅接近 46,100 辆。这与马斯克曾声称的 “需求超出预期” 相去甚远。</p>
</div><p>This speaks to the broader issue of Musk's innovations (usually) failing to materialize. While Musk has overseen the launch of a handful of new EVs and diversified Tesla into an energy generation and storage provider, his Level 5 autonomy claims by &#34;next year&#34; have fallen flat for 11 consecutive years. Furthermore, the initial robotaxi launch in Austin, TX, is limited to just 10 vehicles and geofenced to a small coverage area.</p>
<div class="lb-trans"><p>这反映了马斯克的创新（通常）未能实现的更广泛问题。尽管马斯克监督推出了一些新电动车，并将特斯拉多元化为能源生产和储存提供商，但他对 “明年” 实现的 5 级自动驾驶的承诺已经连续 11 年未能兑现。此外，位于德克萨斯州奥斯汀的初始机器人出租车推出仅限于 10 辆车辆，并且地理围栏限制在一个小范围内。</p>
</div><p>If Musk's unfulfilled promises were backed out of Tesla's valuation, its share price, and astronomical forward price-to-earnings (P/E) ratio of almost 120, would plummet.</p>
<div class="lb-trans"><p>如果将马斯克未兑现的承诺从特斯拉的估值中剔除，其股价和近 120 的天文数字前瞻市盈率将会暴跌。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjI4MzEvd29tYW4tdGFsay1zbWFydHBob25lLWNpdHktd2lyZWxlc3MtNWctNGctZGF0YS12b2ljZW1haWwtZ2V0dHkuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F822831%2Fwoman-talk-smartphone-city-wireless-5g-4g-data-voicemail-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Loeb's Third Point has piled into an unstoppable high-yield dividend stock</h2>
<div class="lb-trans"><h2>洛布的第三点已大量投资于一只不可阻挡的高收益分红股票</h2>
</div><p>However, Third Point's billionaire chief was also a buyer of select stocks during the March-ended quarter. Though nearly a dozen new positions were opened, arguably none stands out more than the 3,775,000 shares purchased of high-octane dividend stock <strong>AT&amp;T</strong>(T 0.41%).</p>
<div class="lb-trans"><p>然而，第三点的亿万富翁首席在截至 3 月的季度中也购买了部分股票。尽管开设了近十个新头寸，但可以说没有哪一只股票比购买了 3,775,000 股高收益分红股票 <strong>AT&amp;T</strong>(T 0.41%) 更引人注目。</p>
</div><p>Two years ago, investors seemingly wanted nothing to do with AT&amp;T and large telecom companies. In July 2023, a report from <em>The Wall Street Journal</em> alleged that AT&amp;T and other U.S. telecom companies had a network of legacy cables wrapped in toxic lead. The <em>WSJ</em> intimated that cleanup costs and health liabilities could be sizable for legacy telecom companies.</p>
<div class="lb-trans"><p>两年前，投资者似乎对 AT&amp;T 和大型电信公司毫无兴趣。2023 年 7 月，《华尔街日报》的一份报告称，AT&amp;T 和其他美国电信公司拥有一张包裹在有毒铅中的遗留电缆网络。《华尔街日报》暗示，清理成本和健康责任可能对遗留电信公司来说是巨大的。</p>
</div><p>Ultimately, AT&amp;T and its peers refuted the findings of the report. Even if there is some form of future liability for America's legacy telecom providers, it's something that would almost certainly be determined in the U.S. court system, which is notoriously slow. What was viewed as a serious threat to AT&amp;T in July 2023 quickly passed as short-term white noise. AT&amp;T's shares have since doubled in value from their July 2023 lows.</p>
<div class="lb-trans"><p>最终，AT&amp;T 及其同行否认了报告的发现。即使美国传统电信提供商在未来可能面临某种形式的责任，这几乎肯定会在美国法院系统中裁定，而该系统以缓慢著称。2023 年 7 月被视为对 AT&amp;T 的严重威胁的事情迅速被视为短期噪音。自那时以来，AT&amp;T 的股价已从 2023 年 7 月的低点翻了一番。</p>
</div><p>Although AT&amp;T's best growth days are long gone, there <em>are</em> still catalysts working in the company's favor.</p>
<div class="lb-trans"><p>尽管 AT&amp;T 最辉煌的增长时期早已过去，但仍然有一些催化因素对公司有利。</p>
</div><p>For example, AT&amp;T upgrading and steadily expanding the reach of its 5G network has resulted in ongoing postpaid phone additions and mobility sales growth that typically ranges in the low-to-mid single digits. Since access to a smartphone and the internet has effectively evolved into a basic necessity, AT&amp;T is enjoying historically low postpaid phone churn rates that are below 1%.</p>
<div class="lb-trans"><p>例如，AT&amp;T 升级并稳步扩展其 5G 网络的覆盖范围，导致了持续的后付费手机新增用户和移动销售增长，通常在低到中个位数之间。由于智能手机和互联网的接入实际上已演变为基本需求，AT&amp;T 享有历史上低于 1% 的后付费手机流失率。</p>
</div><p>Additionally, there's been a resurgence in broadband signups since the rollout of 5G. AT&amp;T has added at least 200,000 net customers to its broadband service for 21 consecutive quarters (more than five straight years) and is nearing 30 million cumulative consumer and business AT&amp;T Fiber subscribers. Even with broadband no longer being the growth story it was when the century began, it's still a phenomenal source of operating cash flow and can be used as a tool to encourage high-margin service bundling.</p>
<div class="lb-trans"><p>此外，自 5G 推出以来，宽带注册人数也出现了复苏。AT&amp;T 在连续 21 个季度（超过五年）中至少增加了 200,000 名宽带服务净客户，接近 3000 万的 AT&amp;T Fiber 消费者和商业用户。尽管宽带不再是世纪初的增长故事，但它仍然是运营现金流的一个极佳来源，并可以用作鼓励高利润服务捆绑的工具。</p>
</div><p>Perhaps best of all, AT&amp;T has dramatically improved its financial flexibility since spinning out its content division, WarnerMedia, in 2022. This spinoff, which saw WarnerMedia merge with Discovery to create <strong>Warner Bros. Discovery</strong>, led to the assumption of certain debt lots by this new media entity. Whereas net debt for AT&amp;T stood at $169 billion on March 31, 2022, it's fallen to $119.1 billion precisely three years later.</p>
<div class="lb-trans"><p>或许最重要的是，自 2022 年剥离其内容部门华纳媒体以来，AT&amp;T 显著改善了其财务灵活性。这次剥离使华纳媒体与 Discovery 合并，形成了 <strong>华纳兄弟探索</strong>，导致该新媒体实体承担了某些债务。2022 年 3 月 31 日，AT&amp;T 的净债务为 1690 亿美元，而三年后的今天已降至 1191 亿美元。</p>
</div><p>Lastly, AT&amp;T is dishing out a nearly 4% annual yield and sports a reasonable forward P/E ratio of 12.7 amid a historically pricey stock market.</p>
<div class="lb-trans"><p>最后，AT&amp;T 提供近 4% 的年收益率，并在历史上高价的股市中拥有合理的前瞻市盈率 12.7。</p>
</div>

Billionaire Dan Loeb Sold Third Point's Entire Stake in Tesla in Favor of a High-Yield Dividend Stock That's Doubled in Under 2 Years

- 文章讨论了华尔街数据的重要性及其对投资者的影响。  
- Dan Loeb 在 2025 年第一季度出售特斯拉股票，同时增持 AT&T。  
- AT&T 的财务灵活性改善，股价在过去两年中翻倍。  

亿万富翁丹·勒布出售了 Third Point 在特斯拉的全部股份，转而投资于一种在不到两年内翻倍的高收益股息股票