Not AI Or Magnificent 7: Short-Seller Jim Chanos Warns Investors Are Missing 'Absolute Insane' Valuations Of These Stocks
Not AI Or Magnificent 7: Short-Seller Jim Chanos Warns Investors Are Missing 'Absolute Insane' Valuations Of These Stocks
The 2023 market rally has been fueled by big tech companies, many with exposure to artificial intelligence. However, investor and short-seller Jim Chanos has warned of a different bubble brewing: "insane valuations" in some industrial stocks.
2023年的市場反彈是由大型科技公司推動的,其中許多公司都接觸過人工智能。但是,投資者兼賣空者吉姆·查諾斯警告說,另一種泡沫正在醞釀之中:一些工業股的 “估值瘋狂”。
What Happened: On Wednesday, Chanos highlighted concerns about high valuations in low-growth industrial companies.
發生了什麼:週三,查諾斯強調了對低增長工業公司高估值的擔憂。
"While people focus on AI, the Mag 7, etc., I think they might be missing the absolute insane valuations that many no or low-growth industrials are now sporting," he said.
他說:“雖然人們專注於人工智能、Mag 7等,但我認爲他們可能錯過了許多沒有增長或低增長的工業企業現在所採用的絕對瘋狂的估值。”
He pointed to Eaton Corporation Plc (NYSE:ETN) trading at nearly 30 times its last twelve-month EBITDA and six times its revenue, despite minimal revenue growth over the past decade.
他指出,儘管過去十年收入增長微乎其微,但伊頓公司(紐約證券交易所代碼:ETN)的交易價格仍接近過去十二個月息稅折舊攤銷前利潤的30倍,收入的六倍。
General Electric Co. (NYSE:GE) was another example. Chanos noted its stock price at nearly 40 times estimated earnings per share in its aerospace business, despite only a 5% annual growth rate in that sector since 1999.
通用電氣公司(紐約證券交易所代碼:GE)是另一個例子。查諾斯指出,儘管自1999年以來該行業的年增長率僅爲5%,但其股價仍接近其航空航天業務估計每股收益的40倍。
Best Industrials Stocks Right Now
目前最好的工業股
Why This Matters: Industrials are traditionally not known for high growth. However, with the Federal Reserve potentially cutting rates soon, investors might favor them over growth stocks.
爲什麼這很重要:傳統上,工業企業並不以高增長而聞名。但是,由於聯儲局可能很快降息,投資者可能會偏愛它們而不是成長股。
While rate cuts and resilient economic growth could soften any potential downside for industrial stocks, Chanos' warning highlights the risk of overheated valuations.
儘管降息和彈性經濟增長可能會軟化工業股的任何潛在下行空間,但查諾斯的警告凸顯了估值過熱的風險。
Supporting Evidence: The Dow Jones Industrial Average, a benchmark for blue-chip stocks, is nearing its all-time high, reflecting investor optimism about continued economic strength.
支持證據:作爲藍籌股基準的道瓊斯工業平均指數已接近歷史新高,這反映了投資者對持續經濟走強的樂觀情緒。
The Industrial Select Sector SPDR Fund (NYSE:XLI) traded up 0.13% at $126.10 in premarket trading on Thursday, according to Benzinga Pro data. The exchange-traded fund has added about 11% year-to-date, in line with the S&P 500's 10% gain.
根據Benzinga Pro的數據,工業精選板塊SPDR基金(紐約證券交易所代碼:XLI)週四盤前交易中上漲0.13%,至126.10美元。該交易所交易基金今年迄今已上漲約11%,與標準普爾500指數10%的漲幅持平。
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