<p>不到兩週前，華爾街和投資者獲得了第四季度最重要的數據發佈之一——不，我不是在説十月份的通脹報告。</p>
<p>在一個季度結束後的 45 天內，管理資產至少為 1 億美元的機構投資者必須向證券交易委員會提交 13F 表格。13F 為普通投資者提供了一種跟蹤華爾街頂級資金經理在上一個季度（在這種情況下是截至九月的季度）購買和出售哪些股票的方式。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTg4NTEvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1tYXJrZXQtbGV2ZWwtMi1kYXRhLWludmVzdC1nZXR0eS5qcGcmdz03MDA?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://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTg4NTEvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1tYXJrZXQtbGV2ZWwtMi1kYXRhLWludmVzdC1nZXR0eS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<p>雖然 13F 申報季的亮點往往是沃倫·巴菲特的 <strong>伯克希爾哈撒韋</strong>，但多年來在華爾街上令人矚目的億萬富翁投資者並不少見。億萬富翁以色列·英格蘭德（Israel Englander）是千禧管理公司（Millennium Management）的創始人，管理着近 2110 億美元的資產，分散在數千種證券（普通股和期權）中，是一個完美的例子。</p>
<p>在英格蘭德及其頂級顧問進行的數千筆交易中，有兩筆逆向交易尤為突出。在某種程度上，英格蘭德一直是華爾街頂級人工智能（AI）股票 <strong>英偉達</strong>（Nvidia）的果斷賣家。相比之下，他則在大量購買一隻掙扎中的醫療保健股票，該股票的股息收益率接近火熱的 12%！</p>
<h2>英格蘭德的千禧管理公司出售超過三分之二的英偉達股票</h2>
<p>自 2023 年開始以來，人工智能巨頭英偉達幾乎勢不可擋。截至 11 月 22 日收盤，股價上漲了 871%，公司的市值超過 3.1 萬億美元。華爾街從未見過如此迅速增長的市場領先企業。也許這就是千禧管理公司出售股票的動力。</p>
<p>根據 13F 申報，英格蘭德的基金在截至 9 月 30 日的過去一年中出售了 26,371,575 股經過拆分調整的英偉達股票。這裏的 “拆分調整” 是指英偉達在 6 月 7 日交易結束後進行了一次歷史性的 10 比 1 的股票拆分。千禧管理公司剩餘的 1115 萬股英偉達股票意味着其持倉在一年內減少了 70%。</p>
<p>英偉達的成功得益於其在 AI 加速數據中心的主導地位。該公司的 H100 圖形處理單元（GPU）和下一代 Blackwell 芯片的需求超出了供應，導致了卓越的定價能力和驚人的 74.6% 的毛利率，截至 2024 財年第三季度（10 月 27 日）。</p>
<p>更重要的是，英偉達的 GPU 在計算能力方面證明了其整體優越性。由於英偉達的 CUDA 軟件平台使客户忠於其生態系統，並且其 GPU 在計算性能上表現優異，因此它在超越華爾街已經高漲的共識增長預測方面沒有遇到太大困難。</p>
<p>但對於英偉達來説，可能正在醖釀一場完美風暴，這或許可以解釋英格蘭德在華爾街的 AI 寵兒中持續的賣出活動。</p>
<p>英偉達股票見頂的一個重要線索是其毛利率。雖然 AI-GPU 的稀缺性和 H100 的高價使公司的毛利率在財年第一季度飆升至超過 78%，但隨後在第二季度回落至 75.1%，在最新季度降至 74.6%。英偉達對財年第四季度的預測將其毛利率定在 73% 到 73.5% 之間，波動幅度為±50 個基點。這一毛利率的持續下降意味着 AI-GPU 的稀缺性正在減弱，英偉達的定價能力也在下降。</p>
<p>競爭也從各個角度向英偉達襲來。儘管 <strong>超微半導體</strong>（Advanced Micro Devices）等直接競爭對手獲得了大部分關注，但對英偉達數據中心 “房地產” 的更大威脅可能來自內部。許多按淨銷售額計算的頂級客户，屬於 “七大奇蹟” 之一，正在內部開發 AI-GPU 以在其數據中心使用。即使英偉達的芯片在計算能力上具有優勢，這些內部開發的芯片也更便宜且更易於獲取。</p>
<p>歷史可能是促使英格蘭德兑現收益的另一個催化劑。在過去三十年中，我們從未見過任何可能改變遊戲規則的技術避免早期泡沫。互聯網、基因解碼、3D 打印和元宇宙只是一些備受推崇的進步的例子，投資者高估了它們在早期階段的實用性和採用率。如果歷史重演，人工智能泡沫破裂，沒有哪家公司會比英偉達更受影響。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTg4NTEvcGhhcm1hY3ktY3VzdG9tZXItcHJlc2NyaXB0aW9uLW1lZGljaW5lLWluc3VyYW5jZS1obW8taGVhbHRoY2FyZS1nZXR0eS5qcGcmdz03MDA?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://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTg4NTEvcGhhcm1hY3ktY3VzdG9tZXItcHJlc2NyaXB0aW9uLW1lZGljaW5lLWluc3VyYW5jZS1obW8taGVhbHRoY2FyZS1nZXR0eS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>英格蘭德將其基金在這隻接近 12% 收益率的醫療股票上的持倉增加了 10 倍</h2>
<p>但當以色列·英格蘭德將全球最熱門的 AI 股票拋售時，他卻忙於購買藥品連鎖店 <strong>沃爾格林聯合博姿</strong>（Walgreens Boots Alliance），該股票的交易水平是 20 世紀末的水平，收益率超過 11.5%！</p>
<p>在截至九月的季度中，英格蘭德的基金購買了 5,138,342 股沃爾格林的股票，使其持倉在短短三個月內增加了驚人的 953%！值得注意的是，千禧管理公司通常通過認沽和認購期權對其普通股持倉進行對沖，這在英偉達和沃爾格林聯合博姿的情況下也是如此。</p>
<p>説沃爾格林面臨挑戰簡直是輕描淡寫。它正面臨來自 <strong>Amazon</strong> 等在線藥房日益增長的壓力，在努力成為一家醫療服務公司的過程中遭遇了複雜情況（即大額減記），甚至在某些市場的運營結果也受到盜竊的負面影響。</p>
<p>儘管面臨這些挑戰，沃爾格林聯合公司自歷史最高點以來股價已下跌超過 90%，但 Englander 和他的團隊依然加大了投資。</p>
<p>沃爾格林的主要催化劑之一是 2023 年 10 月任命 Tim Wentworth 為首席執行官。前首席執行官 Rosalind Brewer 是一位經驗豐富的零售領袖，但缺乏醫療保健經驗，而 Wentworth 則帶來了數十年的醫療領導經驗。儘管他的快速改革方式讓華爾街和投資者感到震驚，但他並不避諱地闡述沃爾格林的長期願景。</p>
<p>目前，公司專注於降低成本，並推動更高利潤率的項目。計劃在未來三個財政年度內關閉大約 8,500 家美國門店中的 1,200 家，這將降低運營費用，並將公司的努力集中在更高機會的領域。</p>
<p>此外，Wentworth 打算繼續推動其醫療服務轉型。儘管與 VillageMD 的合作及投資導致了大額減記，但沃爾格林的首席執行官相信，公司正朝着其共設初級護理診所的可持續盈利能力邁進。</p>
<p>截至目前，沃爾格林聯合公司的收益率幾乎達到了不可思議的 11.5%。然而，考慮到沃爾格林正在進行成本削減，並試圖進行多年的轉型，如果這一分紅再次被削減或完全擱置以保留現金，也並不令人驚訝。</p>
<p>雖然我確實相信沃爾格林聯合公司具備實現轉型的工具，但這將是一個緩慢的過程，充滿了許多坑窪和障礙。</p>

沃爾格林聯合博姿

英偉達

<p>億萬富翁以色列·英格蘭德（Israel Englander）已出售米倫尼姆管理公司（Millennium Management）在英偉達（Nvidia）中的 70% 股份，將其持股減少至 1115 萬股。這一決定是在對英偉達毛利率下降和人工智能領域競爭加劇的擔憂中做出的。同時，英格蘭德正在大舉投資沃爾格林聯合博姿（Walgreens Boots Alliance），這是一隻近 12% 股息收益率的醫療保健股票，表明他在潛在的人工智能股票波動中正向更穩定的投資方向轉變</p>

<p>Less than two weeks ago, Wall Street and investors were privy to one of the most important data releases of the fourth quarter -- and <em>no</em>, I'm not talking about the October inflation report.</p>
<div class="lb-trans"><p>不到兩週前，華爾街和投資者獲得了第四季度最重要的數據發佈之一——不，我不是在説十月份的通脹報告。</p>
</div><p>No later than 45 days following the end to a quarter, institutional investors with at least $100 million in assets under management (AUM) are required to file Form 13F with the Securities and Exchange Commission. A 13F offers a way for everyday investors to track which stocks Wall Street's leading money managers have been purchasing and selling during the previous quarter (in this instance, the September-ended quarter).</p>
<div class="lb-trans"><p>在一個季度結束後的 45 天內，管理資產至少為 1 億美元的機構投資者必須向證券交易委員會提交 13F 表格。13F 為普通投資者提供了一種跟蹤華爾街頂級資金經理在上一個季度（在這種情況下是截至九月的季度）購買和出售哪些股票的方式。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTg4NTEvbW9uZXktbWFuYWdlci1zdG9jay1jaGFydC1tYXJrZXQtbGV2ZWwtMi1kYXRhLWludmVzdC1nZXR0eS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F798851%2Fmoney-manager-stock-chart-market-level-2-data-invest-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><p>While the highlight of 13F filing season tends to be Warren Buffett's <strong>Berkshire Hathaway</strong>, there is no shortage of billionaire investors who've dazzled Wall Street over the years. Billionaire Israel Englander of Millennium Management, who oversees close to $211 billion in AUM spread across thousands of securities (common stock and options), is a perfect example.</p>
<div class="lb-trans"><p>雖然 13F 申報季的亮點往往是沃倫·巴菲特的 <strong>伯克希爾哈撒韋</strong>，但多年來在華爾街上令人矚目的億萬富翁投資者並不少見。億萬富翁以色列·英格蘭德（Israel Englander）是千禧管理公司（Millennium Management）的創始人，管理着近 2110 億美元的資產，分散在數千種證券（普通股和期權）中，是一個完美的例子。</p>
</div><p>Among the thousands of transactions made by Englander and his top advisors, two contrarian trades stand out. In one respect, Englander has been a decisive seller of Wall Street's premier artificial intelligence (AI) stock, <strong>Nvidia</strong>(NVDA -4.18%). Comparatively, he's been piling into a struggling healthcare stock whose dividend yield is approaching a scorching-hot 12%!</p>
<div class="lb-trans"><p>在英格蘭德及其頂級顧問進行的數千筆交易中，有兩筆逆向交易尤為突出。在某種程度上，英格蘭德一直是華爾街頂級人工智能（AI）股票 <strong>英偉達</strong>（Nvidia）的果斷賣家。相比之下，他則在大量購買一隻掙扎中的醫療保健股票，該股票的股息收益率接近火熱的 12%！</p>
</div><h2>Englander's Millennium rings the register on over two-thirds of its Nvidia stock</h2>
<div class="lb-trans"><h2>英格蘭德的千禧管理公司出售超過三分之二的英偉達股票</h2>
</div><p>Since the page turned to 2023, AI colossus Nvidia has been virtually unstoppable. Shares are up 871%, as of the closing bell on Nov. 22, with the company's market value climbing by north of $3.1 trillion. Wall Street has never witnessed a market-leading business increase in value so quickly before. Perhaps this has been the impetus behind Millennium's selling spree.</p>
<div class="lb-trans"><p>自 2023 年開始以來，人工智能巨頭英偉達幾乎勢不可擋。截至 11 月 22 日收盤，股價上漲了 871%，公司的市值超過 3.1 萬億美元。華爾街從未見過如此迅速增長的市場領先企業。也許這就是千禧管理公司出售股票的動力。</p>
</div><p>Based on 13F filings, Englander's fund has sold 26,371,575 split-adjusted shares of Nvidia over the trailing year, ended Sept. 30. The &#34;split-adjusted&#34; aspect pertains to Nvidia conducting a historic 10-for-1 forward stock split following the close of trading on June 7. Millennium's remaining 11.15 million shares of Nvidia means its position has been slashed by 70% in a year.</p>
<div class="lb-trans"><p>根據 13F 申報，英格蘭德的基金在截至 9 月 30 日的過去一年中出售了 26,371,575 股經過拆分調整的英偉達股票。這裏的 “拆分調整” 是指英偉達在 6 月 7 日交易結束後進行了一次歷史性的 10 比 1 的股票拆分。千禧管理公司剩餘的 1115 萬股英偉達股票意味着其持倉在一年內減少了 70%。</p>
</div><p>The wind in Nvidia's sails has been fueled by its dominance in AI-accelerated data centers. Demand for the company's H100 graphics processing unit (GPU) and next-generation Blackwell chip has overwhelmed supply, leading to exceptional pricing power and a jaw-dropping gross margin of 74.6%, as of the end of the fiscal third quarter (Oct. 27, 2024).</p>
<div class="lb-trans"><p>英偉達的成功得益於其在 AI 加速數據中心的主導地位。該公司的 H100 圖形處理單元（GPU）和下一代 Blackwell 芯片的需求超出了供應，導致了卓越的定價能力和驚人的 74.6% 的毛利率，截至 2024 財年第三季度（10 月 27 日）。</p>
</div><p>What's more, Nvidia's GPUs have proven collectively superior to competing hardware in terms of computing capacity. Between Nvidia's CUDA software platform keeping customers loyal to its ecosystem and its GPUs outperforming on a computing basis, it's had little trouble outpacing Wall Street's already lofty consensus growth forecasts.</p>
<div class="lb-trans"><p>更重要的是，英偉達的 GPU 在計算能力方面證明了其整體優越性。由於英偉達的 CUDA 軟件平台使客户忠於其生態系統，並且其 GPU 在計算性能上表現優異，因此它在超越華爾街已經高漲的共識增長預測方面沒有遇到太大困難。</p>
</div><p>But there may be a perfect storm brewing for Nvidia, which might explain Englander's persistent selling activity in Wall Street's AI darling.</p>
<div class="lb-trans"><p>但對於英偉達來説，可能正在醖釀一場完美風暴，這或許可以解釋英格蘭德在華爾街的 AI 寵兒中持續的賣出活動。</p>
</div><p>One of the biggest clues that Nvidia's stock has topped is its gross margin. While AI-GPU scarcity and higher price points for its H100 sent the company's gross margin soaring to more than 78% in the fiscal first quarter, it's subsequently retraced to 75.1% in the second quarter and 74.6% in the latest quarter. Nvidia's forecast for the fiscal fourth quarter pegs its gross margin between 73% and 73.5%, +/- 50 basis points. This steady decline in gross margin would imply that AI-GPU scarcity is waning, along with Nvidia's pricing power.</p>
<div class="lb-trans"><p>英偉達股票見頂的一個重要線索是其毛利率。雖然 AI-GPU 的稀缺性和 H100 的高價使公司的毛利率在財年第一季度飆升至超過 78%，但隨後在第二季度回落至 75.1%，在最新季度降至 74.6%。英偉達對財年第四季度的預測將其毛利率定在 73% 到 73.5% 之間，波動幅度為±50 個基點。這一毛利率的持續下降意味着 AI-GPU 的稀缺性正在減弱，英偉達的定價能力也在下降。</p>
</div><p>Competition is also coming at Nvidia from all angles. Though direct competitors, such as <strong>Advanced Micro Devices</strong>, garner most of the attention, the greater threat to Nvidia's data center &#34;real estate&#34; arguably comes from within. Many of its top customers by net sales, which are members of the &#34;Magnificent Seven,&#34; are internally developing AI-GPUs to use in their data centers. Even with Nvidia's chips possessing computing advantages, these internally developed chips are cheaper and more easily accessible.</p>
<div class="lb-trans"><p>競爭也從各個角度向英偉達襲來。儘管 <strong>超微半導體</strong>（Advanced Micro Devices）等直接競爭對手獲得了大部分關注，但對英偉達數據中心 “房地產” 的更大威脅可能來自內部。許多按淨銷售額計算的頂級客户，屬於 “七大奇蹟” 之一，正在內部開發 AI-GPU 以在其數據中心使用。即使英偉達的芯片在計算能力上具有優勢，這些內部開發的芯片也更便宜且更易於獲取。</p>
</div><p>History might be the other catalyst that's encouraged Englander to cash in his chips. At no point over the last three decades have we witnessed a potentially game-changing technology avoid an early stage bubble. The internet, genome decoding, 3D printing, and the metaverse are just some of the examples of highly touted advancements where investors overestimated their early stage utility and adoption. If history were to rhyme and the artificial intelligence bubble bursts, no company would take it on the chin more than Nvidia.</p>
<div class="lb-trans"><p>歷史可能是促使英格蘭德兑現收益的另一個催化劑。在過去三十年中，我們從未見過任何可能改變遊戲規則的技術避免早期泡沫。互聯網、基因解碼、3D 打印和元宇宙只是一些備受推崇的進步的例子，投資者高估了它們在早期階段的實用性和採用率。如果歷史重演，人工智能泡沫破裂，沒有哪家公司會比英偉達更受影響。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTg4NTEvcGhhcm1hY3ktY3VzdG9tZXItcHJlc2NyaXB0aW9uLW1lZGljaW5lLWluc3VyYW5jZS1obW8taGVhbHRoY2FyZS1nZXR0eS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F798851%2Fpharmacy-customer-prescription-medicine-insurance-hmo-healthcare-getty.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Englander just 10X'd his fund's stake in this nearly 12%-yielding healthcare stock</h2>
<div class="lb-trans"><h2>英格蘭德將其基金在這隻接近 12% 收益率的醫療股票上的持倉增加了 10 倍</h2>
</div><p>But while Israel Englander has been sending shares of the hottest AI stock on the planet to the chopping block, he's been busy purchasing shares of pharmacy chain <strong>Walgreens Boots Alliance</strong>(WBA 4.62%), which is trading at levels last observed in the late 20th century and yielding more than 11.5%!</p>
<div class="lb-trans"><p>但當以色列·英格蘭德將全球最熱門的 AI 股票拋售時，他卻忙於購買藥品連鎖店 <strong>沃爾格林聯合博姿</strong>（Walgreens Boots Alliance），該股票的交易水平是 20 世紀末的水平，收益率超過 11.5%！</p>
</div><p>During the September-ended quarter, Englander's fund bought 5,138,342 shares of Walgreens, which increased its position by a whopping 953% in just three months! It should be noted that Millennium commonly hedges its common-stock holdings with put and call options, which is the case with both Nvidia and Walgreens Boots Alliance.</p>
<div class="lb-trans"><p>在截至九月的季度中，英格蘭德的基金購買了 5,138,342 股沃爾格林的股票，使其持倉在短短三個月內增加了驚人的 953%！值得注意的是，千禧管理公司通常通過認沽和認購期權對其普通股持倉進行對沖，這在英偉達和沃爾格林聯合博姿的情況下也是如此。</p>
</div><p>To say that things have been challenging for Walgreens would be nothing short of an understatement. It's facing growing online pharmacy pressure from the likes of <strong>Amazon</strong>, has endured complications (i.e., sizable writedowns) in its efforts to become a healthcare-services company, and has even had its operating results negatively impacted in select markets by theft.</p>
<div class="lb-trans"><p>説沃爾格林面臨挑戰簡直是輕描淡寫。它正面臨來自 <strong>Amazon</strong> 等在線藥房日益增長的壓力，在努力成為一家醫療服務公司的過程中遭遇了複雜情況（即大額減記），甚至在某些市場的運營結果也受到盜竊的負面影響。</p>
</div><p>Despite these challenges, which have slashed Walgreens Boots Alliance's share price by more than 90% since it hit an all-time high, Englander and his team have piled in.</p>
<div class="lb-trans"><p>儘管面臨這些挑戰，沃爾格林聯合公司自歷史最高點以來股價已下跌超過 90%，但 Englander 和他的團隊依然加大了投資。</p>
</div><p>One of the primary catalysts for Walgreens was the appointment of Tim Wentworth as CEO in October 2023. Whereas prior CEO Rosalind Brewer was a seasoned retail leader but lacked healthcare experience, Wentworth brings decades of healthcare leadership to the table. While his rip-off-the-Band-Aid approach has been a bit of a shock to Wall Street and investors, he's not been shy about laying out his long-term vision for Walgreens.</p>
<div class="lb-trans"><p>沃爾格林的主要催化劑之一是 2023 年 10 月任命 Tim Wentworth 為首席執行官。前首席執行官 Rosalind Brewer 是一位經驗豐富的零售領袖，但缺乏醫療保健經驗，而 Wentworth 則帶來了數十年的醫療領導經驗。儘管他的快速改革方式讓華爾街和投資者感到震驚，但他並不避諱地闡述沃爾格林的長期願景。</p>
</div><p>For the moment, the company is focused on bringing down costs, as well as promoting higher-margin initiatives. The plan is to close 1,200 of its roughly 8,500 U.S. stores over the next three fiscal years, which will lower its operating expenses and focus the company's efforts on areas of higher opportunity.</p>
<div class="lb-trans"><p>目前，公司專注於降低成本，並推動更高利潤率的項目。計劃在未來三個財政年度內關閉大約 8,500 家美國門店中的 1,200 家，這將降低運營費用，並將公司的努力集中在更高機會的領域。</p>
</div><p>Furthermore, Wentworth intends to keep promoting its healthcare-services transition. Even though its partnership with and investment in VillageMD has led to sizable writedowns, Walgreens' chief believes the company is moving toward recurring profitability from its co-located primary care clinics.</p>
<div class="lb-trans"><p>此外，Wentworth 打算繼續推動其醫療服務轉型。儘管與 VillageMD 的合作及投資導致了大額減記，但沃爾格林的首席執行官相信，公司正朝着其共設初級護理診所的可持續盈利能力邁進。</p>
</div><p>As of this writing, Walgreens Boots Alliance is yielding an almost unfathomable 11.5%. However, with Walgreens in cost-cutting mode and the company attempting a multiyear turnaround, it wouldn't be surprising if this payout was cut again or shelved entirely to preserve cash.</p>
<div class="lb-trans"><p>截至目前，沃爾格林聯合公司的收益率幾乎達到了不可思議的 11.5%。然而，考慮到沃爾格林正在進行成本削減，並試圖進行多年的轉型，如果這一分紅再次被削減或完全擱置以保留現金，也並不令人驚訝。</p>
</div><p>While I do believe Walgreens Boots Alliance has the tools to effect a turnaround, it's going to be a slow process filled with plenty of potholes and speed bumps.</p>
<div class="lb-trans"><p>雖然我確實相信沃爾格林聯合公司具備實現轉型的工具，但這將是一個緩慢的過程，充滿了許多坑窪和障礙。</p>
</div>

Billionaire Israel Englander Sold 70% of Millennium's Stake in Nvidia and Is Piling Into a Supercharged Dividend Stock With a Nearly 12% Yield

- 英國億萬富翁以色列·英格蘭德在出售 Nvidia 股票的同時，增持 Walgreens Boots Alliance。  
- 英格蘭德的基金在過去一年內減持 Nvidia 股票 70%，而 Walgreens 的持股增加了 953%。  
- Walgreens 在新 CEO 的領導下，計劃關閉 1200 家門店以降低成本並轉型。  

億萬富翁以色列·英格蘭德出售了千禧基金在英偉達的 70% 股份，並正在大量買入一個收益率接近 12% 的高分紅股票