<p>作者：马克·赫尔伯特</p>
<p>支付股息的赢家可能会超越以迷因为主题的 ETF</p>
<p>一家关闭的 Allbirds 商店前门上的标志。这家鞋类制造商最近重新品牌为一家人工智能公司——其股票飙升。</p>
<p>迷因股票回来了——这意味着是时候拥有一个 “反迷因” 投资组合了。</p>
<p>迷因股票是散户交易者的宠儿，并在社交媒体上迅速传播。它们通常规模小、流动性相对较差——而且没有盈利。最新的例子是 Allbirds（BIRD），这是一家自 2021 年上市以来每年都亏损的鞋类公司。自公司 IPO 以来，其股价已损失 98% 的价值。</p>
<p>上周，Allbirds 宣布将从生产运动鞋转向专注于人工智能。消息一出，股价几乎飙升了 600%。目前仍上涨近 300%——这意味着它已经放弃了大约一半的涨幅。</p>
<p>还有更多。被称为 “迷因股票海报儿童” 的在线经纪商 Robinhood Markets（HOOD）在过去一个月上涨了 21%，而投资于一篮子迷因股票的 Roundhill Meme Stock ETF（MEME）上涨了 32%。</p>
<p>迷因股票的常见模式是先飙升，然后通常在不久之后暴跌。除非你是一个沉迷于冒险的赌徒，否则你应该避免这些股票——如果不是做空它们的话。这就是为什么六个月前，当迷因股票再次引起类似的关注时，我提出了一个反迷因投资组合，这些股票在盈利能力、财务稳定性和安全性方面得分很高，并且将其利润的大部分作为股息支付。从下图可以看出，该投资组合的回报率为 11.6%，而迷因股票 ETF 则损失了 18.9%。</p>
<p>同样值得记住的是，迷因股票 ETF 的曲折历史。它于 2021 年 12 月首次上市，随后在两年后关闭。在这两年期间，它损失了 53%，而标准普尔 500 指数的总回报指数则上涨了 2.1%。该 ETF 去年秋季重新开放，自那时以来它损失了 8.5%——即使考虑到其最近的显著涨幅。</p>
<p>明智的赌注是，今天这一批迷因股票将遭遇同样的命运。考虑到这一点，我创建了一个新的反迷因投资组合。下面的列表包含了目前至少被两份我审计公司监控的投资通讯推荐购买的所有股票，并且根据其市盈率、账面价值、销售额和股息相对于标准普尔 500 指数被低估。</p>
<p>马克·赫尔伯特是 MarketWatch 的定期撰稿人。他的赫尔伯特评级跟踪支付固定费用进行审计的投资通讯。他的联系方式是 mark@hulbertratings.com。</p>
<p>-马克·赫尔伯特</p>
<p>此内容由 MarketWatch 创建，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和《华尔街日报》独立出版。</p>
<p>（完）道琼斯新闻通讯</p>
<p>04-25-26 1155ET</p>

HOOD

MEME

2 倍做多 HOOD ETF - Defiance

2 倍做多 HOOD ETF - T-Rex

2 倍做多 Robinhood ETF - Leverage Shares

<p>迷因股票的复苏，如 Allbirds 和 Robinhood，突显了它们的波动性和风险。Allbirds 在宣布转向人工智能后，其股票飙升了 600%，尽管其历史上一直亏损。相比之下，一个由高质量、支付股息的股票组成的 “反迷因” 投资组合显著优于迷因股票。迷因股票 ETF 的表现不佳，过去两年损失了 53%。建议投资者避免迷因股票，考虑更安全、更稳定的投资</p>

<p>By Mark Hulbert</p>
<div class="lb-trans"><p>作者：马克·赫尔伯特</p>
</div><p>Dividend-paying winners are likely to outperform a meme-themed ETF</p>
<div class="lb-trans"><p>支付股息的赢家可能会超越以迷因为主题的 ETF</p>
</div><p>A sign on the front door of a shuttered Allbirds store. The shoe manufacturer recently rebranded itself as an AI company - and the stock soared.</p>
<div class="lb-trans"><p>一家关闭的 Allbirds 商店前门上的标志。这家鞋类制造商最近重新品牌为一家人工智能公司——其股票飙升。</p>
</div><p>Meme stocks are back - which means it's time to own an &#34;antimeme&#34; portfolio.</p>
<div class="lb-trans"><p>迷因股票回来了——这意味着是时候拥有一个 “反迷因” 投资组合了。</p>
</div><p>Meme stocks are darlings of retail traders and go viral on social media. They typically are small, relatively illiquid - and unprofitable. The latest example is Allbirds (BIRD), a shoe company that has lost money every year since going public in 2021. The shares had lost 98% of their value since the company's IPO.</p>
<div class="lb-trans"><p>迷因股票是散户交易者的宠儿，并在社交媒体上迅速传播。它们通常规模小、流动性相对较差——而且没有盈利。最新的例子是 Allbirds（BIRD），这是一家自 2021 年上市以来每年都亏损的鞋类公司。自公司 IPO 以来，其股价已损失 98% 的价值。</p>
</div><p>Then last week, Allbirds announced that it would shift from making sneakers to focusing on AI. The stock surged almost 600% on the news. It's still up almost 300% - meaning it has given up about half of its big gain.</p>
<div class="lb-trans"><p>上周，Allbirds 宣布将从生产运动鞋转向专注于人工智能。消息一出，股价几乎飙升了 600%。目前仍上涨近 300%——这意味着它已经放弃了大约一半的涨幅。</p>
</div><p>There's more. Robinhood Markets (HOOD), the online broker that has been referred to as the &#34;poster child of meme stocks,&#34; is up 21% in the past month, while the Roundhill Meme Stock ETF MEME, which invests in a basket of meme stocks, is up 32%.</p>
<div class="lb-trans"><p>还有更多。被称为 “迷因股票海报儿童” 的在线经纪商 Robinhood Markets（HOOD）在过去一个月上涨了 21%，而投资于一篮子迷因股票的 Roundhill Meme Stock ETF（MEME）上涨了 32%。</p>
</div><p>The all-too-common meme-stock pattern is to soar and then, usually before too long, plunge. Unless you're a gambler addicted to risk-taking, you should avoid these stocks - if not sell them short. That's why six months ago, when there was a similar resurgence of interest in meme stocks, I presented an antimeme portfolio of stocks rated highly for profitability, financial stability and safety, and which pay out a large percentage of their profits as dividends. Since then, as you can see from the chart below, that portfolio has produced an 11.6% return, versus an 18.9% loss for the meme-stock ETF.</p>
<div class="lb-trans"><p>迷因股票的常见模式是先飙升，然后通常在不久之后暴跌。除非你是一个沉迷于冒险的赌徒，否则你应该避免这些股票——如果不是做空它们的话。这就是为什么六个月前，当迷因股票再次引起类似的关注时，我提出了一个反迷因投资组合，这些股票在盈利能力、财务稳定性和安全性方面得分很高，并且将其利润的大部分作为股息支付。从下图可以看出，该投资组合的回报率为 11.6%，而迷因股票 ETF 则损失了 18.9%。</p>
</div><p>It's also worth remembering the meme-stock ETF's checkered past. It first came to market in December 2021 and then closed two years later. It lost 53% over that two-year period, versus a 2.1% gain for the S&amp;P 500's SPX total-return index. The ETF reopened last fall, and since then it has lost 8.5% - even after taking into account its impressive recent gain.</p>
<div class="lb-trans"><p>同样值得记住的是，迷因股票 ETF 的曲折历史。它于 2021 年 12 月首次上市，随后在两年后关闭。在这两年期间，它损失了 53%，而标准普尔 500 指数的总回报指数则上涨了 2.1%。该 ETF 去年秋季重新开放，自那时以来它损失了 8.5%——即使考虑到其最近的显著涨幅。</p>
</div><p>The intelligent bet is that today's batch of meme stocks will suffer the same fate. With that in mind, I created a new antimeme portfolio. The list below contains all stocks currently recommended for purchase by at least two of the investment newsletters my auditing firm monitors, and which also are undervalued relative to the S&amp;P 500 according to their ratios of price to earnings, book value, and sales and dividends.</p>
<div class="lb-trans"><p>明智的赌注是，今天这一批迷因股票将遭遇同样的命运。考虑到这一点，我创建了一个新的反迷因投资组合。下面的列表包含了目前至少被两份我审计公司监控的投资通讯推荐购买的所有股票，并且根据其市盈率、账面价值、销售额和股息相对于标准普尔 500 指数被低估。</p>
</div><p>Mark Hulbert is a regular contributor to MarketWatch. His Hulbert Ratings tracks investment newsletters that pay a flat fee to be audited. He can be reached at mark@hulbertratings.com.</p>
<div class="lb-trans"><p>马克·赫尔伯特是 MarketWatch 的定期撰稿人。他的赫尔伯特评级跟踪支付固定费用进行审计的投资通讯。他的联系方式是 mark@hulbertratings.com。</p>
</div><p>-Mark Hulbert</p>
<div class="lb-trans"><p>-马克·赫尔伯特</p>
</div><p>This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.</p>
<div class="lb-trans"><p>此内容由 MarketWatch 创建，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和《华尔街日报》独立出版。</p>
</div><p>(END) Dow Jones Newswires</p>
<div class="lb-trans"><p>（完）道琼斯新闻通讯</p>
</div><p>04-25-26 1155ET</p>
<div class="lb-trans"><p>04-25-26 1155ET</p>
</div>

The meme-stock frenzy is a warning - these 7 high-quality stocks are better bets

Dow Jones

Robinhood

Roundhill Meme Stock ETF

Allbirds

标普 500 指数

迷因股的狂热是一种警示——这 7 只高质量股票是更好的投资选择