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投资理财

雷曼兄弟破产以来,这两只股票表现最佳

Lucinda Shen 2017年09月24日

自雷曼兄弟破产后,全世界的消费者在流媒体和电子游戏上花费了相当多的时间和金钱。

投资银行业的巨头雷曼兄弟在九年前的今天(9月18日)宣布破产,也开启了一个每分钟有六间房屋取消赎买权的时代。自此以后,全世界的消费者在流媒体和电子游戏上花费了相当多的时间和金钱。

这些花费足够巨大,乃至投资者发现在后金融危机时代,这些领域有着巨大的增长潜力。芯片制造商英伟达因此成为了雷曼申请破产后表现最佳的公司之一,而流媒体服务公司奈飞涨势强劲,一举夺魁。

从雷曼兄弟申请破产至今,标准普尔500指数上涨了大约109%,但英伟达的股价猛涨了1,750%,奈飞公司的股价则飙升了4,468%。当时在股市投资的1美元,如今已经价值翻倍还多,而投资英伟达的1美元已经变成了19美元,而如果用来投资奈飞,则会变成46美元。

2008年9月15日,在美国财政部长汉克·保尔森告诉雷曼兄弟不要指望救助后,这家当时的华尔街巨头申请了破产,成为了美国史上最大的破产案。那时,公司投身于按揭证券之中,这种复杂的债务组合往往会给银行带来更高的利润,然而也常常包含不良贷款。随着房价开始暴跌,许多人无法为自己的房屋还贷,最终导致了贷款拖欠。

2008年,美国的失业率一度达到10%,股市千疮百孔。

九年后的今天,道琼斯指数和标普500指数都在创造新高,其原因部分在于可能出现的减税,以及技术的发展。尽管在雷曼破产之前的九年,领跑标普500指数的是农用化学和矿业公司,但这之后的九年里,接过大旗的是奈飞和英伟达等互联网和科技公司。(财富中文网)

译者:严匡正

Since investment banking giant Lehman Brothers fell nine years ago this day, signaling the start of a time when six homes were foreclosed on every minute, global consumers have been spending a lot of time on Netflix and a nice bit of cash on video games.

They've spent enough that investors saw outsized potential for those areas to grow in a post-financial crisis world. That helped make chip-maker Nvidia one of the best performers since Lehman filed for bankruptcy, and crowning streaming service Netflix as king.

While the S&P 500 rose roughly 109% between the time Lehman filed for bankruptcy in August and Thursday, shares of Nvidia have risen 1,750% while Netflix has jumped 4,468%. While $1 invested in the wider stock market would've been worth about 2 times more today, $1 in Nvidia would have become $19, while that same $1 would've be $46 had it been placed on Netflix.

Lehman Brothers, then a Wall Street powerhouse, filed for the largest bankruptcy in U.S. history September 15, 2008, after the government led by Treasury Secretary Hank Paulson told Lehman not to expect a bailout. That came after the company had jumped into mortgage-backed securities, a complex package of debts that often meant higher margins for banks, yet often included poor quality loans. But when housing prices fell, many were unable to refinance their homes, leading to delinquencies.

At one point in 2008, the unemployment rate spiked to 10%, while the stock markets cratered.

Yet nine years down the road, the Dow and S&P 500 are setting new highs partly in anticipation of tax cuts, but also thanks to developments in technology. While agricultural chemical and mining companies led the S&P 500 in the nine years leading up to the Lehman's bankruptcy, it's been the internet and tech companies such as Netflix and Nvidia that have led the charge this time around.

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