[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcioafcdf922":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcioafcdf922","华尔街空头警告，美国401K体系或将崩盘！","\u002Fdoc\u002Fdcioafcdf922","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp> \u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">知名做空机构浑水创始人\u003C\u002Fspan>Carson Block\u003Cspan style=\"font-family: DengXian;\">警告，\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">正在从根本上改变他对市场的判断，并将其整体展望从看多急转为看空。他预计，未来三年内美国\u003C\u002Fspan>15%\u003Cspan style=\"font-family: DengXian;\">的知识工作者岗位将消失，由此引发的失业潮可能对股市形成系统性冲击。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">据彭博周四报道，\u003C\u002Fspan>Block\u003Cspan style=\"font-family: DengXian;\">在迈阿密海滩举行的\u003C\u002Fspan>Future Proof\u003Cspan style=\"font-family: DengXian;\">财富管理会议上表示，仅仅一个月前，他对标普\u003C\u002Fspan>500\u003Cspan style=\"font-family: DengXian;\">及整体经济还持完全乐观的态度，但如今观点已\u003C\u002Fspan>\"180\u003Cspan style=\"font-family: DengXian;\">度转变\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">。这一立场逆转来得相当突然——就在去年\u003C\u002Fspan>11\u003Cspan style=\"font-family: DengXian;\">月底，他还公开表示更倾向于做多而非做空美国市场，并披露了若干非常规多头仓位。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Block\u003Cspan style=\"font-family: DengXian;\">的核心担忧在于，\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">驱动的就业冲击将通过劳动力市场向金融市场传导。一旦失业率上升压缩\u003C\u002Fspan>401(k)\u003Cspan style=\"font-family: DengXian;\">等退休账户的资金流入，甚至迫使失业工人提前动用储蓄，股市将面临持续的资金流出压力，届时\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">没有人来接这把下落的刀\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">【法律、会计、金融支持岗位首当其冲】\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Block\u003Cspan style=\"font-family: DengXian;\">预计，\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">带来的就业替代将率先出现在法律、会计、税务咨询及金融支持等领域，尤其集中于初级员工和行政岗位。在对冲基金行业，他认为包括\u003C\u002Fspan>IT\u003Cspan style=\"font-family: DengXian;\">工作在内的大量运营和后台职能，都可能被更廉价、更高效的自动化系统所取代。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">他指出，利润丰厚的大型机构或许仍会出于惯例继续招募初级分析师，但利润空间较薄的企业将迅速转向自动化。这一分化意味着，就业市场的压力将优先在中小型企业及利润率偏低的行业中显现。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Block\u003Cspan style=\"font-family: DengXian;\">的判断与市场当前的主流焦虑相呼应——投资者正日益担忧，数千亿美元的\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">基础设施投入究竟能否产生足够回报，抑或只会加速颠覆企业格局、大规模消灭白领岗位。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">【做空信用利差，寻找凸性机会】\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">尽管整体转向看空，\u003C\u002Fspan>Block\u003Cspan style=\"font-family: DengXian;\">表示其团队已在市场中寻找结构性机会。目前，\u003C\u002Fspan>Muddy Waters\u003Cspan style=\"font-family: DengXian;\">建立了押注信用利差走阔的仓位，并试图利用部分交易所交易基金中存在的流动性错配获利。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\"\u003Cspan style=\"font-family: DengXian;\">我认为信用利差现在紧得离谱，信用波动率也低得离谱，\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">他说。\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">在我看来，你需要凸性，而且有很多方式可以在控制最大亏损的前提下布局。\u003C\u002Fspan>\"\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">这一策略反映出\u003C\u002Fspan>Block\u003Cspan style=\"font-family: DengXian;\">对当前市场定价过于乐观的判断——在他看来，投资者长期处于低利率环境中，已对风险形成过度容忍，并纵容了企业层面的激进行为。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">【灰色地带泛滥但市场不再在意】\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Block\u003Cspan style=\"font-family: DengXian;\">还谈及其核心做空业务面临的困境。他认为，多年的宽松货币政策不仅推高了资产价格，也助长了企业在会计处理和信息披露上的激进倾向，形成了广泛的\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">灰色地带\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">然而，市场对此类行为的容忍度却在上升。\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">我的业务变得越来越难做，因为除非是非常、非常过分的事情，人们根本不在乎，\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">他说。这意味着，即便存在大量具有潜在问题的企业，做空机构也难以在市场中获得足够的共鸣与回报。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp> \u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FS\u002FSPY\u002FSPY.jpg","2026-03-13T05:31:09","2026.03.13","2026\u002F03\u002F13",56865,[22],"SPY","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cimg style=\"display:block;margin-left:auto;margin-right:auto;\" src=\"https:\u002F\u002Fstockwewebfiles.blob.core.windows.net\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":68,"summaryHtml":73,"aboutTitle":74,"aboutHtml":75,"copyrightHtml":76},[44,47,50,53,56,59,62,65],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fplan",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":60,"url":61},"美股课程","\u002Fcol\u002Fvideos",{"label":63,"url":64},"免责声明","\u002Fdisclaimer",{"label":66,"url":67},"联系我们","\u002FContactUs",[69,70,71,72],"https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]