$QQQ · Everything Money · 2026-11-10
QQQ 提供最佳成长敞口：其高资本回报率的公司支撑得起溢价估值，若以合理价格买入，科技板块应能引领长期收益。但这些标的被过度炒作、可能崩盘，因此说话者尚未开始建立大仓位，只有在经历大幅下跌、价格回到合理水平后才会明确加仓 QQQ。即便在 2000 年高点买入、经历 80% 以上的跌幅，年化回报仍超过 14% 或 15%。
逐段跳播
最后但同样重要的是QQQ指数，即纳斯达克100指数。各位，这是投资成长股的完美选择。QQQ涵盖纳斯达克100家最大的非金融公司，是科技公司的有力指标。像Nvidia、Meta、Amazon、Microsoft、Apple、Google和Tesla这样的公司，是世界上最具创新力和增长最快的公司之一。
Last but not least, the QQQ Index, the Nasdaq 100 Index. Guys, this is the perfect place to invest in growth. QQQ includes the 100 largest non-financial companies on Nasdaq, making it a strong indicator for technology companies.
Companies like Nvidia, Meta, Amazon, Microsoft, Apple, Google, and Tesla are some of the most innovative and fastest-growing companies in the world.
费率为0.18%，略高一些，但相比共同基金仍然非常低。你得到的是那些能够对投入业务的资金产生高回报的公司。这被称为“高资本回报率”。那么这意味着什么呢？假设公司A的现金投资回报率为10%，而公司B的回报率为30%。
如果公司A投资10亿美元，它将获得1亿美元的额外年收入，相当于10亿美元的10%。这还不错。而公司B投资10亿美元，获得30%的回报，即每年3亿美元。如果两家公司继续这样下去，哪一家会更好？
显然是公司B。因此，公司B理应获得更高的价格。正因如此，QQQ的股票往往以更高的估值出售，因为它们包含了增长更快的公司，这些公司能够以更快的速度和更低的成本增加利润。最重要的优势是，当你支付合理的价格时，你将获得巨大的利润。
The expense ratio is slightly higher at 0.18%, but it is still very low compared to mutual funds. What you get are companies that are able to generate high returns on the money invested in their businesses.
This is called "high returns on capital". So what does that mean? Let's assume that Company (A) achieves a 10% return on its cash investment, while Company (B) achieves a 30% return.
If Company A invests $1 billion, it will receive $100 million in additional annual income, which is equivalent to 10% of $1 billion. And that's not bad. Company (B), on the other hand, invests one billion dollars and achieves a return of 30%, or 300 million dollars annually.
If the two companies continue in this manner, which one will be the better one? It is clearly company (B). Therefore, company (B) deserves a higher price. For this reason, QQQ shares are often sold at a higher valuation, as they include faster-growing companies that are able to increase their profits at a faster pace and at a lower cost.
The most important advantage is that when you pay a reasonable price, you will make huge profits.
另一方面，这些公司被高估、被投机、被媒体吹捧，当情况不妙时，它们可能会严重崩盘。正因如此，我目前并没有把大部分资金投入其中。实际上，我还没有开始买入它们。我会策略性地使用它，但这里有一些好消息。
在2000年，如果你在当年3月科技泡沫顶峰时开始买入QQQ股票，你会看到它们下跌80%或82%才触底。但如果你从那个顶峰持续买入直到今天，你的资金年回报率将超过14%或15%。
看看这个！在下跌80%或更多之前的高点投资，并持续这样做，取得的业绩远远超过市场表现。这就是长期投资的力量，而不是试图预测市场时机。
On the other hand, these are companies that are overrated, speculated on, and inflated by the media, and when things go wrong , they may collapse badly. For this reason, I am not currently investing a large part of my money in it.
Actually, I haven't started buying them yet. I will use it strategically, but here's some good news. In 2000, if you had started buying QQQ shares at the height of the tech bubble in March of that year, you would have seen them drop by 80 or 82% before reaching their lowest point .
But if you had continued buying from that peak until today, you would have achieved an annual return on your money of more than 14 or 15%. Look at that! Investing at the peak before a drop of 80% or more, and continuing to do so, achieves a performance that far exceeds the market's performance.
This is the power of long-term investing and not trying to predict market timing.
一旦QQQ的股价大幅下跌并变得价格合理，我肯定会毫不犹豫地将其加入我的投资组合，因为如果以合理的价格买入，科技板块长期来看将引领市场上涨。
Once QQQ's stock price drops sharply and becomes reasonably priced, I will definitely add it to my investment portfolio without a doubt, because the technology sector will lead the gains in the market in the long run if it is bought at reasonable prices .
如果你还年轻，可以等到市场波动平息。所以也许你应该从QQQ股票开始，连同你的其他投资一起。
If you are young, you can wait until the market volatility subsides. So perhaps you should start with QQQ stock along with the rest of your investments.
如果你在此基础上加入一些QQQ股票，你就能弥补在12年没有收益期间所损失的差额。
And if you add some QQQ shares to that, you will be able to make up for the difference you lost during 12 years of not making any gains.
因此，QQQ的股票往往以更高的估值出售，因为它们包含了增长更快的公司，这些公司能够以更快的速度和更低的成本增加利润。
Therefore, QQQ shares are often sold at a higher valuation, as they include faster-growing companies that are able to increase their profits at a faster pace and at a lower cost.
这个频道对 $QQQ 的历次判断
Everything Money 在这只股票上共 2 条判断，这里只列相邻的几条。