<p>我在谈论选股时经常提到彼得·林奇，原因非常简单。</p>
<p>他是有史以来最优秀的选股者之一。</p>
<p>1977 年，林奇在 33 岁时被委任管理富达麦哲伦基金。林奇立即在基金上留下了自己的印记，并为投资者带来了超过 29% 的年回报。</p>
<p>在林奇接管的那天投资的 1 美元，在他退休后用于陪伴家人和观看可恶的红袜子队打棒球时，价值约 30 美元，</p>
<p>这是投资经理所取得的最佳业绩记录之一。</p>
<p>他写了几本关于投资的畅销书，包括《华尔街的赢家》和《战胜华尔街》。</p>
<p>今天没有人阅读这些书，因为它们没有承诺在接下来的几周内致富，而是讨论一些无聊的东西，比如银行股票和零售商。</p>
<p>我的意思是，这家伙总是谈论丝袜、甜甜圈和墨西哥卷饼。</p>
<p>谁在乎这些？</p>
<p>如果你关心赚钱，你应该在乎。</p>
<p>林奇非常喜欢低机构持股的股票。他曾写道：“如果你发现一只几乎没有机构持股的股票，你就找到了一个潜在的赢家。找到一家没有任何分析师访问过的公司，或者没有分析师承认知道的公司，你就找到了双重赢家。当我与一家告诉我最后一位分析师三年前才来过的公司交谈时，我几乎无法抑制我的热情。”</p>
<p>这正是我的感受，也是我每周撰写《雷达下的投资》的原因。</p>
<p>机构资金是推动股票上涨的动力。如果我们能在他们之前进入股票，来自对冲基金、ETF、养老金和捐赠基金的现金投资所带来的购买压力，将推动我们的股票上涨，给我们带来多倍于我们购买价格的利润。</p>
<p>我老家的一家银行是华尔街忽视的一个完美例子，具有巨大的增长潜力。只有一位分析师关注这只股票，机构持有的股份不到 35%。</p>
<p>只有一位分析师关注这只股票。</p>
<p>Capital Bancorp CBNK 是一家位于马里兰州罗克维尔的以商业为重点的社区银行，在中大西洋地区开辟了一个盈利的利基市场，同时建立了可扩展的全国平台。通过 Capital Bank, N.A.运营，该公司将传统商业银行与创新数字策略相结合。其核心业务包括中型市场企业和非营利组织的商业和工业贷款、房地产融资以及财务服务。与此同时，Capital Bank Home Loans 运营着一个全国抵押贷款发放平台，而 OpenSky 品牌已成为领先的有担保和无担保信用卡发行商，服务于缺乏银行服务的消费者和那些希望重建信用的人。Windsor Advantage 部门通过专业金融产品和基于费用的服务进一步多样化收入。</p>
<p>Capital Bancorp 的独特之处在于其轻型分支策略，专注于效率和技术，而不是重型实体基础设施。这种方法使其能够在扩大存款和贷款基础的同时保持高盈利指标。自 2018 年上市以来，该银行展示了稳定的增长，得益于有机举措和战略收购的支持。高接触的商业银行与金融科技驱动的消费平台的结合提供了一个平衡的模型，带来了强劲的股本回报和韧性的净利差。Capital Bancorp 正将自己定位为传统社区银行纪律与现代数字金融执行的混合体。</p>
<p>利用 Benzinga Pro 的资源，我还发现了 Radcom Ltd. RDCM，这是一家为电信行业提供云和网络服务的高增长公司。机构持有的股份不到 50%，只有一位分析师关注该公司。</p>
<p>Radcom Ltd.是那些低调的以色列科技公司之一，继续在市场的一个专业领域中实现真正的增长。该公司专注于电信运营商的服务保障和客户体验解决方案，特别是那些部署 5G 网络的运营商。其旗舰产品 RADCOM ACE 平台是云原生和完全虚拟化的，提供实时分析和网络智能，运营商依赖这些来监控性能、检测异常并改善客户体验质量。</p>
<p>从传统硬件探针转向软件即服务模型的转变是具有变革性的。它扩大了毛利率，创造了一个更具可扩展性的业务，并为 Radcom 在电信网络变得更加复杂的情况下提供了一个可防御的利基市场。</p>
<p>财务结果证实了这一故事。在 2025 年第一季度，Radcom 报告每股收益为 0.15 美元，超过去年同期的 0.049 美元的三倍多。过去 12 个月的收入达到 6350 万美元，净收入为 865 万美元。毛利率约为 75%，公司产生的净利润率为 13.6%。</p>
<p>Radcom 基本上没有债务，截至 2024 年年末持有近 9500 万美元的现金，这使其拥有强大的资产负债表和继续扩展的灵活性。分析师预计年收入增长超过 12%，这将延续六年的连续增长。</p>
<p>在大资金开始涌入之前找到成长股是投资成功的关键。这是彼得·林奇取得前所未有回报的基石。</p>

RDCM

CBNK

<p>本文讨论了受彼得·林奇启发的投资策略，强调低机构持股的股票作为潜在赢家。文章重点介绍了 Capital Bancorp（CBNK），这是一家机构持股不足 35% 的社区银行，仅有一位分析师跟踪，展示了其自 2018 年上市以来的盈利细分市场和增长。此外，Radcom Ltd.（RDCM）作为一家为电信提供云和网络服务的公司，因其低机构持股和强劲的财务表现而受到关注，包括盈利和收入的显著增长，使其在市场中成为一个高增长的机会</p>

<p>I refer to Peter Lynch fairly often in my conversation about stock picking. The reason is really simple.</p>
<div class="lb-trans"><p>我在谈论选股时经常提到彼得·林奇，原因非常简单。</p>
</div><p>He is one of the best stock pickers that ever lived.</p>
<div class="lb-trans"><p>他是有史以来最优秀的选股者之一。</p>
</div><p>In 1977 Lynch was given the Fidelity Magellan fund to manage at the ripe old age of 33. Lynch immediately put his stamp on the fund and went on to return over 29% annually to investors.</p>
<div class="lb-trans"><p>1977 年，林奇在 33 岁时被委任管理富达麦哲伦基金。林奇立即在基金上留下了自己的印记，并为投资者带来了超过 29% 的年回报。</p>
</div><p>$1 invested in the fund on the day Lynch took the reins was worth about $30 when he retired to spend more time with his family and watch the accursed Red Sox play baseball,</p>
<div class="lb-trans"><p>在林奇接管的那天投资的 1 美元，在他退休后用于陪伴家人和观看可恶的红袜子队打棒球时，价值约 30 美元，</p>
</div><p>It is one of the best track records ever compiled by an investment manager.</p>
<div class="lb-trans"><p>这是投资经理所取得的最佳业绩记录之一。</p>
</div><p>He has written several bestsellers on investing including One up on Wall Street and Beating the Street.</p>
<div class="lb-trans"><p>他写了几本关于投资的畅销书，包括《华尔街的赢家》和《战胜华尔街》。</p>
</div><p>No one reads them today because they make no promises about getting rich in the next few weeks and talk about boring stuff like bank stocks and retailers.</p>
<div class="lb-trans"><p>今天没有人阅读这些书，因为它们没有承诺在接下来的几周内致富，而是讨论一些无聊的东西，比如银行股票和零售商。</p>
</div><p>I mean the guy talked about pantyhose, donuts and tacos all the time.</p>
<div class="lb-trans"><p>我的意思是，这家伙总是谈论丝袜、甜甜圈和墨西哥卷饼。</p>
</div><p>Who cares about that?</p>
<div class="lb-trans"><p>谁在乎这些？</p>
</div><p>If you care about making money you should.</p>
<div class="lb-trans"><p>如果你关心赚钱，你应该在乎。</p>
</div><p>Lynch was a huge fan of stocks with low institutional ownership. He once wrote that &#34;If you find a stock with little or no institutional ownership, you've found a potential winner. Find a company that no analyst has ever visited, or that no analyst would admit to knowing about, and you've got a double winner. When I talk to a company that tells me the last analyst showed up three years ago, I can hardly contain my enthusiasm. &#34;</p>
<div class="lb-trans"><p>林奇非常喜欢低机构持股的股票。他曾写道：“如果你发现一只几乎没有机构持股的股票，你就找到了一个潜在的赢家。找到一家没有任何分析师访问过的公司，或者没有分析师承认知道的公司，你就找到了双重赢家。当我与一家告诉我最后一位分析师三年前才来过的公司交谈时，我几乎无法抑制我的热情。”</p>
</div><p>That is exactly how I feel and the reason I write Under The Radar every week.</p>
<div class="lb-trans"><p>这正是我的感受，也是我每周撰写《雷达下的投资》的原因。</p>
</div><p>Institutional money is what makes stocks go higher. If we can get into stocks before they do, the buying pressure of the cash invested by hedge funds, ETF's, pensions and endowments are going to be what drives our stock up to loves that give us profits that are multiples of our purchase price overtime</p>
<div class="lb-trans"><p>机构资金是推动股票上涨的动力。如果我们能在他们之前进入股票，来自对冲基金、ETF、养老金和捐赠基金的现金投资所带来的购买压力，将推动我们的股票上涨，给我们带来多倍于我们购买价格的利润。</p>
</div><p>A banking my old stomping grounds hometown is perfect example of a stock Wall Street is ignoring that has the potential for huge gains. Only one analyst follows the stock, and institutions own less than 35% of the shares.</p>
<div class="lb-trans"><p>我老家的一家银行是华尔街忽视的一个完美例子，具有巨大的增长潜力。只有一位分析师关注这只股票，机构持有的股份不到 35%。</p>
</div><p>Only one analyst follows the stock.</p>
<div class="lb-trans"><p>只有一位分析师关注这只股票。</p>
</div><p>Capital Bancorp CBNK is a Rockville, Maryland based commercial-focused community bank that has carved out a profitable niche in the Mid-Atlantic region while building scalable national platforms. Operating through Capital Bank, N.A., the company blends traditional commercial banking with innovative digital strategies. Its core business includes commercial and industrial lending, real estate financing, and treasury services for middle-market businesses and nonprofits across the Washington, D.C. and Baltimore corridor. Alongside that, Capital Bank Home Loans runs a national mortgage origination platform, while the OpenSky brand has become a leading issuer of secured and unsecured credit cards, serving underbanked consumers and those looking to rebuild their credit. The Windsor Advantage unit further diversifies revenue with specialized financial products and fee-based services.</p>
<div class="lb-trans"><p>Capital Bancorp CBNK 是一家位于马里兰州罗克维尔的以商业为重点的社区银行，在中大西洋地区开辟了一个盈利的利基市场，同时建立了可扩展的全国平台。通过 Capital Bank, N.A.运营，该公司将传统商业银行与创新数字策略相结合。其核心业务包括中型市场企业和非营利组织的商业和工业贷款、房地产融资以及财务服务。与此同时，Capital Bank Home Loans 运营着一个全国抵押贷款发放平台，而 OpenSky 品牌已成为领先的有担保和无担保信用卡发行商，服务于缺乏银行服务的消费者和那些希望重建信用的人。Windsor Advantage 部门通过专业金融产品和基于费用的服务进一步多样化收入。</p>
</div><p>What sets Capital Bancorp apart is its branch-lite strategy, focusing on efficiency and technology rather than heavy physical infrastructure. This approach allows it to maintain high profitability metrics while expanding deposit and loan bases. Since its IPO in 2018, the bank has demonstrated steady growth, supported by both organic initiatives and strategic acquisitions. The combination of high-touch commercial banking and fintech-driven consumer platforms provides a balanced model that has delivered strong returns on equity and a resilient net interest margin. Capital Bancorp is positioning itself as a hybrid of traditional community banking discipline and modern digital finance execution.</p>
<div class="lb-trans"><p>Capital Bancorp 的独特之处在于其轻型分支策略，专注于效率和技术，而不是重型实体基础设施。这种方法使其能够在扩大存款和贷款基础的同时保持高盈利指标。自 2018 年上市以来，该银行展示了稳定的增长，得益于有机举措和战略收购的支持。高接触的商业银行与金融科技驱动的消费平台的结合提供了一个平衡的模型，带来了强劲的股本回报和韧性的净利差。Capital Bancorp 正将自己定位为传统社区银行纪律与现代数字金融执行的混合体。</p>
</div><p>Using the resources on Benzinga Pro I also uncovered Radcom Ltd. RDCM a high growth company that offers cloud and networking services to the telecommunications industry. Institutions own less than 50% of the shares and only one analyst is following company.</p>
<div class="lb-trans"><p>利用 Benzinga Pro 的资源，我还发现了 Radcom Ltd. RDCM，这是一家为电信行业提供云和网络服务的高增长公司。机构持有的股份不到 50%，只有一位分析师关注该公司。</p>
</div><p>Radcom Ltd. is one of those under‑the‑radar Israeli technology companies that continues to deliver real growth in a specialized corner of the market. The company focuses on service assurance and customer experience solutions for telecom operators, particularly those deploying 5G networks. Its flagship RADCOM ACE platform is cloud‑native and fully virtualized, providing real‑time analytics and network intelligence that carriers rely on to monitor performance, detect anomalies, and improve customer quality of experience.</p>
<div class="lb-trans"><p>Radcom Ltd.是那些低调的以色列科技公司之一，继续在市场的一个专业领域中实现真正的增长。该公司专注于电信运营商的服务保障和客户体验解决方案，特别是那些部署 5G 网络的运营商。其旗舰产品 RADCOM ACE 平台是云原生和完全虚拟化的，提供实时分析和网络智能，运营商依赖这些来监控性能、检测异常并改善客户体验质量。</p>
</div><p>This shift away from traditional hardware probes to a software‑as‑a‑service model has been transformational. It has expanded gross margins, created a more scalable business, and given Radcom a defensible niche as telecom networks become more complex.</p>
<div class="lb-trans"><p>从传统硬件探针转向软件即服务模型的转变是具有变革性的。它扩大了毛利率，创造了一个更具可扩展性的业务，并为 Radcom 在电信网络变得更加复杂的情况下提供了一个可防御的利基市场。</p>
</div><p>The financial results confirm the story. In the first quarter of 2025, Radcom reported earnings of $0.15 per share, more than triple the $0.049 earned in the same quarter a year ago. Revenue for the trailing twelve months reached $63.5 million, with net income of $8.65 million. Gross margins run at about 75 percent, and the company is producing a net profit margin of 13.6 percent.</p>
<div class="lb-trans"><p>财务结果证实了这一故事。在 2025 年第一季度，Radcom 报告每股收益为 0.15 美元，超过去年同期的 0.049 美元的三倍多。过去 12 个月的收入达到 6350 万美元，净收入为 865 万美元。毛利率约为 75%，公司产生的净利润率为 13.6%。</p>
</div><p>Radcom essentially carries no debt and held nearly $95 million in cash at year‑end 2024, which gives it a strong balance sheet and flexibility to continue expanding. Analysts project annual revenue growth of more than 12 percent, which would extend a streak of six consecutive years of growth.</p>
<div class="lb-trans"><p>Radcom 基本上没有债务，截至 2024 年年末持有近 9500 万美元的现金，这使其拥有强大的资产负债表和继续扩展的灵活性。分析师预计年收入增长超过 12%，这将延续六年的连续增长。</p>
</div><p>Finding growth stocks before the big money begins to pile in is a key to investment success. It was cornerstone to the success Peter Lynch had as he rang up unprecedented returns.</p>
<div class="lb-trans"><p>在大资金开始涌入之前找到成长股是投资成功的关键。这是彼得·林奇取得前所未有回报的基石。</p>
</div>

不被注意的股票：关注度低，持有量少，是否有高上涨潜力？