<p>这可能是我见过的最 “隐秘”（也许是最被厌恶的？）的股市上涨。</p>
<p>头条新闻都是悲观和沮丧（我想你会同意），但在这一切背后，股市正在蓬勃发展——在过去一年中回报率达到了 31%。这超过了市场长期平均年回报率约 10% 的三倍。</p>
<p>这对我们这些依赖股票寻求增长和收入的人来说意味着什么？未来还有更多的上涨空间，还是已经太晚了？</p>
<p>在我看来，这 31% 的涨幅为更多的上涨奠定了基础，我们稍后将详细讨论原因。我们将要分析的设置对于投资封闭式基金（CEFs）来说尤其具有吸引力，因为我们可以以折扣价购买，而不是通过 ETF 或直接在市场上购买股票。</p>
<p><strong>9%+ 收益的 CEFs 无论市场如何都给我们提供折扣</strong></p>
<p>我们在 CEFs 上的折扣机会部分源于 CEFs 市场的规模很小，仅包含约 400 只基金。而 CEFs 的买家往往是个人的保守投资者。</p>
<p>第二点非常关键，因为这些投资者的买卖行为是可预测的——他们总是为我们留下一扇 “折扣窗口”。此外，购买 CEFs 时，我们可以忘记典型指数基金支付的 1% 股息。CEFs 的收益通常在 9% 及以上，这意味着我们获得的大部分回报是以现金形式体现的。</p>
<p>我现在提到 CEFs 是因为我想从两个方面来讨论今天的股市形势——以及我们如何计划参与其中。</p>
<p>首先，我们将探讨为什么这次股市上涨是合理的，根本不是泡沫。简单来说，这意味着 31% 的涨幅并不排除未来类似的上涨。</p>
<p>在第二个方面，我们将从一般到具体，介绍一只似乎专门为我们提供折扣进入这一上涨的 CEFs，且其股息为 10.3%。</p>
<p><strong>轨道 1：经济在阴霾中蓬勃发展</strong></p>
<p>在我们进一步讨论之前，我知道我对经济的乐观可能在现在看来有些不合时宜，霍尔木兹海峡关闭，切断了石油和化肥等重要资源；失业恐慌加剧；消费者信心在四月份创下历史低点。</p>
<p>让我通过从我们谈论股票时总是需要开始的地方来反驳这种悲观叙述：盈利。</p>
<p>多亏了科技突破（换句话说，就是人工智能），生产力正在提升，这些增长体现在强劲的企业盈利增长上。截至 2025 年底，利润率达到了多年来未见的水平，并预计将继续增长：</p>
<p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/Profit-Margins-Grow.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/Profit-Margins-Grow.png"/></p>
<p><em>来源：FactSet</em></p>
<p>与普遍看法相反，这些生产力和利润的增长并不是以牺牲就业为代价的。正如我上周讨论的，我们开始看到数据表明，人工智能实际上是在创造就业。随着时间的推移，随之而来的就业增长可能会为工人和公司创造更多的赚取和消费机会，从而释放出更多的股市价值。</p>
<p>这里还有另一份报告支持这一观点（并反驳整个 “人工智能导致失业” 的叙述）：</p>
<p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/Wage-Growth.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/Wage-Growth.png"/></p>
<p><em>来源：Apollo Global Management</em></p>
<p>上面的图表告诉我们一个具体的故事：从一份工作转到另一份工作的工人可能会看到收入显著上升。这表明公司越来越重视招聘，并愿意为顶尖人才支付更高的薪酬。这是美国经济强劲的又一个明确迹象。</p>
<p><strong>轨道 2：我们在这次市场上涨中的 “便宜” 机会</strong></p>
<p>尽管如此，仍然很容易感到我们已经错过了市场大部分的上涨。但随着利润的增长，更多资金流入经济，未来的收益可能会更多。正如前面提到的，通过折扣 CEFs，我们可以做得更好。</p>
<p>因为通过 CEFs，我们获得的大部分回报是以现金形式体现的，且我们以低于其投资组合价值的价格获得这些基金。</p>
<p>考虑一只名为 <strong>Liberty All-Star Equity Fund (USA)</strong> 的 CEFs。</p>
<p>该基金的收益率为 10.3%，几乎是平均标准普尔 500 指数基金的 10 倍，而其大盘股的投资重点意味着我们可以接触到许多相同的股票：<strong>NVIDIA (NVDA)</strong>、<strong>Microsoft (MSFT)</strong>、<strong>Alphabet (GOOGL)</strong>、<strong>Amazon.com (AMZN)</strong>、<strong>Visa (V)</strong> 和 <strong>Charles Schwab (SCHW)</strong> 都是主要持股，USA 的多样化程度与标准普尔 500 本身相似：</p>
<p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Allocations.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Allocations.png"/></p>
<p><em>来源：Liberty All-Star Funds</em></p>
<p>USA 将这些持股的回报 “转换” 为我们的收入流。它通过将股息与净资产值（NAV，即基金基础投资组合的价值）挂钩，并承诺每年支付大约 8% 的 NAV 作为股息，以四个季度分期支付 2%。</p>
<p>这确实意味着股息会有些浮动，但我们对此并不在意，因为这种 8% 的 “NAV 挂钩” 在过去三年中产生的股息相当稳定：</p>
<p><strong>USA 在波动市场中提供稳定的股息</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Dividend.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Dividend.png"/></p>
<p><em>来源：收入日历</em></p>
<p>此外，该基金在过去十年的强劲回报——市场价格基础上 216%（下图紫色部分）和基于 NAV 的 187%（下图橙色部分）——足以使 USA 的股息保持在高水平。考虑到经济的强劲（且不断改善）的前景，我认为这种情况将会持续：</p>
<p><strong>USA 的市场价格（和投资组合）表现出色</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Total-Returns-1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Total-Returns-1.png"/></p>
<p>该基金自身的表现与其投资组合的表现之间的差距是 CEFs 所特有的。正如你在上面的图表右侧所看到的，最近有所缩小，为你在下面的图表中看到的折扣机会奠定了基础：</p>
<p><strong>USA 的折扣达到 COVID 时代的低点</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Discount-NAV.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Discount-NAV.png"/></p>
<p>美国目前的交易价格比净资产价值（NAV，即其基础投资组合的价值）低 10%。这远低于其 4.2% 的长期平均水平，也是自 COVID 疫情以来的最低水平。对于这样一个表现良好（并维持高分红）的大型基金来说，这样的折扣实在是过大。</p>
<p>此外，USA 持有的股票的任何收益都可能随着基金折扣的缩小而复合增长。</p>
<p>这使我们拥有一个高收益、强劲表现且折扣自 COVID 以来未见的基金。而且这一交易发生在经济强劲增长的时期。这种情况清楚地表明，无论市场其他部分如何波动，CEFs 始终是我们寻找价值的首选。</p>
<p><strong>这 5 只被忽视的基金每年支付</strong> <strong><em>60 次</em></strong> <strong>分红，收益率 9.7%</strong></p>
<p>USA 的 “浮动” 分红在 CEFs 中实际上是比较少见的。许多基金每月支付固定、可预测的金额。</p>
<p>“普通” 股票和 ETF 的投资者几乎从未享受过这样的奢侈！</p>
<p>为了让您轻松启动自己的高月收入流，我将我推荐的 5 只每月支付的 CEF 放在一个 “迷你投资组合” 中。我称之为，简单地说，<strong>“60 次薪水” 分红投资组合</strong>。</p>
<p>它的 <strong>收益率为 9.7%</strong>，每月支付 5 次分红。正如名称所示，这一年总共相当于 60 次分红 “薪水”！此外，这些基金现在价格便宜，随着生产力的提升，经济和股市将进一步上涨，带来可观的上行空间。</p>
<p>现在是购买这 5 只独特的每月支付基金的最佳时机。<strong>点击这里，我将告诉您更多信息，并提供一份免费报告，揭示它们的名称和代码，以便您在几周内收取第一笔月度 “薪水”</strong>。</p>
<h5>另见：</h5>
<p> 沃伦·巴菲特的分红股票</p>
<p> 分红增长股票：25 位贵族</p>
<p> 未来的分红贵族：紧随其后者</p>
<p>本文所表达的观点和意见仅代表作者个人观点，并不一定反映纳斯达克公司的观点。</p>

半导体 3 倍做多 - Direxion

半导体 ETF - VanEck Vectors

<p>股票市场在过去一年中实现了令人惊讶的 31% 的涨幅，显著超过了长期平均水平。这一增长归因于强劲的企业盈利，特别是来自人工智能等技术进步的推动，这些进步也在创造就业机会。投资者可以通过封闭式基金（CEFs）利用这一趋势，这些基金提供更高的收益（超过 9%），目前以折扣价出售。Liberty All-Star Equity Fund（美国）被强调为一个典范，提供 10.3% 的收益，同时投资于像 NVIDIA 和 Microsoft 这样的主要公司</p>

<p>This has got to be the most &#34;hidden&#34; (maybe hated?) stock-market run I've ever seen.</p>
<div class="lb-trans"><p>这可能是我见过的最 “隐秘”（也许是最被厌恶的？）的股市上涨。</p>
</div><p>The headlines are all doom and gloom (I think you'll agree), but behind it all, the stock market is on a roll--returning 31% in just the last year. That's more than <em>triple</em> the market's long-term average yearly return of around 10%.</p>
<div class="lb-trans"><p>头条新闻都是悲观和沮丧（我想你会同意），但在这一切背后，股市正在蓬勃发展——在过去一年中回报率达到了 31%。这超过了市场长期平均年回报率约 10% 的三倍。</p>
</div><p>Where does that leave those of us who look to stocks for growth and income? Is there more runway ahead, or is it too late to buy in?</p>
<div class="lb-trans"><p>这对我们这些依赖股票寻求增长和收入的人来说意味着什么？未来还有更多的上涨空间，还是已经太晚了？</p>
</div><p>In my opinion, this 31% gain is <em>setting the table for more</em>, and we'll get into exactly why in a moment. The setup we'll break down is doubly attractive for investors in closed-end funds (CEFs), where we can get a discount on what we'd pay if we bought stocks through an ETF or directly on the market.</p>
<div class="lb-trans"><p>在我看来，这 31% 的涨幅为更多的上涨奠定了基础，我们稍后将详细讨论原因。我们将要分析的设置对于投资封闭式基金（CEFs）来说尤其具有吸引力，因为我们可以以折扣价购买，而不是通过 ETF 或直接在市场上购买股票。</p>
</div><p><strong>9%+ Yielding CEFs Give Us a Discount No Matter What the Market Is Doing</strong></p>
<div class="lb-trans"><p><strong>9%+ 收益的 CEFs 无论市场如何都给我们提供折扣</strong></p>
</div><p>Our discount opportunity on CEFs exists in part because the CEF market is tiny, containing only about 400 funds. And CEF buyers tend to be individual, conservative investors.</p>
<div class="lb-trans"><p>我们在 CEFs 上的折扣机会部分源于 CEFs 市场的规模很小，仅包含约 400 只基金。而 CEFs 的买家往往是个人的保守投资者。</p>
</div><p>That second point is key because these investors buy and sell predictably--and they always leave a &#34;discount window&#34; open for us somewhere. Plus, with CEFs, we can forget about the 1% dividend your typical index fund pays. CEFs often yield 9% and more, which means we're getting the bulk of our return in cash.</p>
<div class="lb-trans"><p>第二点非常关键，因为这些投资者的买卖行为是可预测的——他们总是为我们留下一扇 “折扣窗口”。此外，购买 CEFs 时，我们可以忘记典型指数基金支付的 1% 股息。CEFs 的收益通常在 9% 及以上，这意味着我们获得的大部分回报是以现金形式体现的。</p>
</div><p>I bring CEFs up now because I want to take on today's stock-market setup--and our plan to buy into it--in two tracks.</p>
<div class="lb-trans"><p>我现在提到 CEFs 是因为我想从两个方面来讨论今天的股市形势——以及我们如何计划参与其中。</p>
</div><p>First, we're going to look at why this stock-market run is justified and not at all a bubble. Simply put, this means that a 31% gain in the rearview does not preclude a similar rise looking ahead.</p>
<div class="lb-trans"><p>首先，我们将探讨为什么这次股市上涨是合理的，根本不是泡沫。简单来说，这意味着 31% 的涨幅并不排除未来类似的上涨。</p>
</div><p>For the second track, we're going to move from the general to the specific, with a CEF seemingly purpose built to get us into this rise at a discount <em>and</em> a 10.3% dividend, too.</p>
<div class="lb-trans"><p>在第二个方面，我们将从一般到具体，介绍一只似乎专门为我们提供折扣进入这一上涨的 CEFs，且其股息为 10.3%。</p>
</div><p><strong>Track 1: An Economy Rolling Through Gloom</strong></p>
<div class="lb-trans"><p><strong>轨道 1：经济在阴霾中蓬勃发展</strong></p>
</div><p>Before we go further, I know my bullishness on the economy might seem a little out of step right now, with the Strait of Hormuz closed, cutting off vital resources like oil and fertilizer; rising fear of job losses; and consumer sentiment that hit record lows in April.</p>
<div class="lb-trans"><p>在我们进一步讨论之前，我知道我对经济的乐观可能在现在看来有些不合时宜，霍尔木兹海峡关闭，切断了石油和化肥等重要资源；失业恐慌加剧；消费者信心在四月份创下历史低点。</p>
</div><p>Let me counter that gloomy narrative by starting where we <em>always</em> need to start when we're talking about stocks: earnings.</p>
<div class="lb-trans"><p>让我通过从我们谈论股票时总是需要开始的地方来反驳这种悲观叙述：盈利。</p>
</div><p>And thanks in large part to tech breakthroughs (AI, in other words) productivity is jumping, and those gains are showing up in strong corporate earnings growth. As of the end of 2025, profit margins had hit levels unseen in years, with more gains forecast:</p>
<div class="lb-trans"><p>多亏了科技突破（换句话说，就是人工智能），生产力正在提升，这些增长体现在强劲的企业盈利增长上。截至 2025 年底，利润率达到了多年来未见的水平，并预计将继续增长：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/Profit-Margins-Grow.png" alt="" original-src="https://contrarianoutlook.com/wp-content/uploads/2026/04/Profit-Margins-Grow.png"/></p>
<p><em>Source: FactSet</em></p>
<div class="lb-trans"><p><em>来源：FactSet</em></p>
</div><p>And contrary to popular opinion, these productivity--and profit--gains are <em>not</em> coming at the expense of jobs. As I discussed last week, we're starting to see data telling us that AI is, in fact, <em>creating</em> jobs. Over time, the resulting employment gains are likely to create opportunities for workers and companies to earn and spend, unlocking even more value from the stock market.</p>
<div class="lb-trans"><p>与普遍看法相反，这些生产力和利润的增长并不是以牺牲就业为代价的。正如我上周讨论的，我们开始看到数据表明，人工智能实际上是在创造就业。随着时间的推移，随之而来的就业增长可能会为工人和公司创造更多的赚取和消费机会，从而释放出更多的股市价值。</p>
</div><p>Here's another report that backs this up (and pushes back on the whole &#34;AI job apocalypse&#34; narrative):</p>
<div class="lb-trans"><p>这里还有另一份报告支持这一观点（并反驳整个 “人工智能导致失业” 的叙述）：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/Wage-Growth.png" alt="" original-src="https://contrarianoutlook.com/wp-content/uploads/2026/04/Wage-Growth.png"/></p>
<p><em>Source: Apollo Global Management</em></p>
<div class="lb-trans"><p><em>来源：Apollo Global Management</em></p>
</div><p>The chart above tells us a specific story: Workers moving from one job to another are likely to see their income rise--and significantly. This shows that companies are putting more emphasis on hiring, and are willing to pay for top talent. That's <em>another</em> clear sign of a strong US economy.</p>
<div class="lb-trans"><p>上面的图表告诉我们一个具体的故事：从一份工作转到另一份工作的工人可能会看到收入显著上升。这表明公司越来越重视招聘，并愿意为顶尖人才支付更高的薪酬。这是美国经济强劲的又一个明确迹象。</p>
</div><p><strong>Track 2: Our Bargain &#34;Backdoor&#34; On This Market Run</strong></p>
<div class="lb-trans"><p><strong>轨道 2：我们在这次市场上涨中的 “便宜” 机会</strong></p>
</div><p>With all that said, it's still easy to feel as if we've missed the bulk of the market's upside. But with profits growing, and more money flowing through the economy, more gains are likely. And with a discounted CEF, as mentioned, we can do even better.</p>
<div class="lb-trans"><p>尽管如此，仍然很容易感到我们已经错过了市场大部分的上涨。但随着利润的增长，更多资金流入经济，未来的收益可能会更多。正如前面提到的，通过折扣 CEFs，我们可以做得更好。</p>
</div><p>That's because with CEFs we're getting most of our return in cash, <em>and</em> we're getting these funds for less than their portfolios are worth.</p>
<div class="lb-trans"><p>因为通过 CEFs，我们获得的大部分回报是以现金形式体现的，且我们以低于其投资组合价值的价格获得这些基金。</p>
</div><p>Consider a CEF called the <strong>Liberty All-Star Equity Fund (USA)</strong>.</p>
<div class="lb-trans"><p>考虑一只名为 <strong>Liberty All-Star Equity Fund (USA)</strong> 的 CEFs。</p>
</div><p>With a 10.3% yield, this fund pays nearly 10X what the average S&amp;P 500 index fund does, while its large-cap focus means we get access to many of the same stocks: <strong>NVIDIA (NVDA)</strong>, <strong>Microsoft (MSFT)</strong>, <strong>Alphabet (GOOGL)</strong>, <strong>Amazon.com (AMZN)</strong>, <strong>Visa (V)</strong> and <strong>Charles Schwab (SCHW)</strong> are all main holdings, and USA is diversified in a way similar to the S&amp;P 500 itself:</p>
<div class="lb-trans"><p>该基金的收益率为 10.3%，几乎是平均标准普尔 500 指数基金的 10 倍，而其大盘股的投资重点意味着我们可以接触到许多相同的股票：<strong>NVIDIA (NVDA)</strong>、<strong>Microsoft (MSFT)</strong>、<strong>Alphabet (GOOGL)</strong>、<strong>Amazon.com (AMZN)</strong>、<strong>Visa (V)</strong> 和 <strong>Charles Schwab (SCHW)</strong> 都是主要持股，USA 的多样化程度与标准普尔 500 本身相似：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Allocations.png" alt="" original-src="https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Allocations.png"/></p>
<p><em>Source: Liberty All-Star Funds</em></p>
<div class="lb-trans"><p><em>来源：Liberty All-Star Funds</em></p>
</div><p>USA takes the returns on these holdings and &#34;converts&#34; them into an income stream for us. It manages that 10.3% payout by linking the dividend to net asset value (NAV, or the value of the fund's underlying portfolio) and committing to paying out roughly 8% of NAV as dividends every year, in four quarterly installments of 2%.</p>
<div class="lb-trans"><p>USA 将这些持股的回报 “转换” 为我们的收入流。它通过将股息与净资产值（NAV，即基金基础投资组合的价值）挂钩，并承诺每年支付大约 8% 的 NAV 作为股息，以四个季度分期支付 2%。</p>
</div><p>That <em>does</em> mean the payout floats a bit, but we're okay with that, since this 8% &#34;NAV peg&#34; has resulted in a payout that's been pretty consistent over the last three years:</p>
<div class="lb-trans"><p>这确实意味着股息会有些浮动，但我们对此并不在意，因为这种 8% 的 “NAV 挂钩” 在过去三年中产生的股息相当稳定：</p>
</div><p><strong>USA Delivers Steady Dividends in Choppy Markets</strong></p>
<div class="lb-trans"><p><strong>USA 在波动市场中提供稳定的股息</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Dividend.png" alt="" original-src="https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Dividend.png"/></p>
<p><em>Source:</em> Income Calendar</p>
<div class="lb-trans"><p><em>来源：收入日历</em></p>
</div><p>Moreover, the fund's strong returns over the last decade--216% on a market-price basis (in purple below) and 187% based on NAV (in orange)--have been more than enough to keep USA's payout rolling out at a high rate. With the economy's strong (and improving) prospects, I see that continuing:</p>
<div class="lb-trans"><p>此外，该基金在过去十年的强劲回报——市场价格基础上 216%（下图紫色部分）和基于 NAV 的 187%（下图橙色部分）——足以使 USA 的股息保持在高水平。考虑到经济的强劲（且不断改善）的前景，我认为这种情况将会持续：</p>
</div><p><strong>USA's Market Price (and Portfolio) Deliver</strong></p>
<div class="lb-trans"><p><strong>USA 的市场价格（和投资组合）表现出色</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Total-Returns-1.png" alt="" original-src="https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Total-Returns-1.png"/></p>
<p>That gap between the fund's own performance and that of its portfolio is unique to CEFs. As you can see at right in the chart above, it's narrowed lately, setting up the discount opportunity you can see in the chart below:</p>
<div class="lb-trans"><p>该基金自身的表现与其投资组合的表现之间的差距是 CEFs 所特有的。正如你在上面的图表右侧所看到的，最近有所缩小，为你在下面的图表中看到的折扣机会奠定了基础：</p>
</div><p><strong>USA's Discount Hits COVID-Era Lows</strong></p>
<div class="lb-trans"><p><strong>USA 的折扣达到 COVID 时代的低点</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Discount-NAV.png" alt="" original-src="https://contrarianoutlook.com/wp-content/uploads/2026/04/USA-Discount-NAV.png"/></p>
<p>USA now trades at a 10% discount to net asset value (NAV, or the value of its underlying portfolio). That's far below its 4.2% long-term average and the lowest it's been since the dark days of COVID. It's also far too large of a markdown for a large-cap fund that's performing (and maintaining high dividends) as well as this one is.</p>
<div class="lb-trans"><p>美国目前的交易价格比净资产价值（NAV，即其基础投资组合的价值）低 10%。这远低于其 4.2% 的长期平均水平，也是自 COVID 疫情以来的最低水平。对于这样一个表现良好（并维持高分红）的大型基金来说，这样的折扣实在是过大。</p>
</div><p>Moreover, any gains in the stocks USA holds are likely to compound as the fund's discount narrows over time.</p>
<div class="lb-trans"><p>此外，USA 持有的股票的任何收益都可能随着基金折扣的缩小而复合增长。</p>
</div><p>This leaves us with a fund sporting a big yield, strong performance and a discount unseen since COVID. And that deal comes at a time when the economy is strong and growing. It's a situation that clearly shows why CEFs are our first stop when we're hunting for value, no matter what the rest of the market is doing.</p>
<div class="lb-trans"><p>这使我们拥有一个高收益、强劲表现且折扣自 COVID 以来未见的基金。而且这一交易发生在经济强劲增长的时期。这种情况清楚地表明，无论市场其他部分如何波动，CEFs 始终是我们寻找价值的首选。</p>
</div><p><strong>These 5 Overlooked Funds Pay Dividends</strong> <strong><em>60 Times a Year</em></strong> <strong>, Yield 9.7%</strong></p>
<div class="lb-trans"><p><strong>这 5 只被忽视的基金每年支付</strong> <strong><em>60 次</em></strong> <strong>分红，收益率 9.7%</strong></p>
</div><p>USA's &#34;floating&#34; dividend is actually unusual among CEFs. Many pay monthly, in <em>fixed, predictable amounts.</em></p>
<div class="lb-trans"><p>USA 的 “浮动” 分红在 CEFs 中实际上是比较少见的。许多基金每月支付固定、可预测的金额。</p>
</div><p>Investors in &#34;regular&#34; stocks and ETFs almost never get that luxury!</p>
<div class="lb-trans"><p>“普通” 股票和 ETF 的投资者几乎从未享受过这样的奢侈！</p>
</div><p>To make it easy for you to kickstart your own high monthly income stream, I've put my 5 top monthly paying CEFs in their own &#34;mini-portfolio.&#34; I call it, simply, the <strong>&#34;60-Paycheck&#34; Dividend Portfolio</strong>.</p>
<div class="lb-trans"><p>为了让您轻松启动自己的高月收入流，我将我推荐的 5 只每月支付的 CEF 放在一个 “迷你投资组合” 中。我称之为，简单地说，<strong>“60 次薪水” 分红投资组合</strong>。</p>
</div><p>It boasts <strong>a 9.7% yield</strong> and kicks out 5 dividend payouts every month. That, as the name says, amounts to 60 dividend &#34;paychecks&#34; a year! Plus these funds are cheap now, putting solid upside on the table as rising productivity juices the economy, and stock market, further from here.</p>
<div class="lb-trans"><p>它的 <strong>收益率为 9.7%</strong>，每月支付 5 次分红。正如名称所示，这一年总共相当于 60 次分红 “薪水”！此外，这些基金现在价格便宜，随着生产力的提升，经济和股市将进一步上涨，带来可观的上行空间。</p>
</div><p>Now is the time to buy these 5 unique monthly payers. <strong>Click here and I'll tell you more about them and give you a free report revealing their names and tickers, so you can collect your first monthly &#34;paycheck&#34; within weeks</strong> <strong>.</strong></p>
<div class="lb-trans"><p>现在是购买这 5 只独特的每月支付基金的最佳时机。<strong>点击这里，我将告诉您更多信息，并提供一份免费报告，揭示它们的名称和代码，以便您在几周内收取第一笔月度 “薪水”</strong>。</p>
</div><h5>Also see:</h5>
<div class="lb-trans"><h5>另见：</h5>
</div><p> Warren Buffett Dividend Stocks</p>
<div class="lb-trans"><p> 沃伦·巴菲特的分红股票</p>
</div><p> Dividend Growth Stocks: 25 Aristocrats</p>
<div class="lb-trans"><p> 分红增长股票：25 位贵族</p>
</div><p> Future Dividend Aristocrats: Close Contenders</p>
<div class="lb-trans"><p> 未来的分红贵族：紧随其后者</p>
</div><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>
<div class="lb-trans"><p>本文所表达的观点和意见仅代表作者个人观点，并不一定反映纳斯达克公司的观点。</p>
</div>

10% Dividends (at a 10% Discount) From This "Hated" Stock Rally

nasdaq

Liberty All Star Eq Fd

高科技指数 ETF - SPDR

云计算 ETF - GlobalX

T-Rex 2X Long Microsoft Daily Target ETF

费城交易所 半导体 ETF - iShares

微软每日 2 倍做多 ETF - Direxion

标普软件与服务 ETF - SPDR

英伟达期权收益策略 ETF - YieldMax

YieldMax MSFT Option Income Strategy ETF

2 倍做多英伟达 ETF - GraniteShares

全球科技股指数 ETF - iShares

动态半导体 ETF - Invesco

北美科技软件股指数 ETF - iShares

Kurv Yield Premium Strategy Microsoft MSFT ETF

2 倍做多英伟达 ETF - Direxion

2 倍做多 NVDA ETF - T-Rex

标普半导体 ETF - SPDR

2 倍做多 MSFT ETF - GraniteShares

辉盛研究系统

Apollo Global

英伟达

微软

谷歌-A

亚马逊

Visa

嘉信理财

标普 500 指数

APOLLO GLOBAL MANAGEMENT INC 6.75% CONV PFD STK SER A

Apollo Global Management Pref Share APO 7.625 09/15/53

NVIDIA Corporation

谷歌-C

SCHWAB(CHARLES)CORP 5.95% DEP SHS REP 1/40 NON CUM PERP PF D

SCHWAB(CHARLES)CORP 4.450% DEP SHS REP 1/40TH N-CUM PFD SERJ

从这只 “被厌恶” 的股票上涨中以 10% 的折扣获得 10% 的股息