对于亚太股市,REAL交易比HALO更合适?

华尔街见闻
Mar 17

AI冲击正在重塑全球股市的估值逻辑。面对亚太市场的结构特殊性,美银证券认为,拥挤的"HALO"(重资产、低淘汰率)交易存在明显局限,以REAL(监管壁垒、持久周期、重资产、本地服务)框架识别或更为适切——尤其在产能充裕、重工业缺乏稀缺性护城河的市场,HALO策略的保护效果存在高估风险。 据追风交易台消息,美银分析师Winnie Wu团队在16日的报告中表示,美国软件板块在过去五个月内市值蒸发逾2...

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