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2023-11-29

what a legend

Berkshire Hathaway's Charles Munger Passes Away: a Look Back at His Life

2022-08-27

the decision to buy Tesla depends on our own risk appetite and whether it fits in with the other stocks in iur portfolio. it is important to take ownership of our own investing decisions and not buy whatever is in the news.

2022-08-27

focus on fundamentals!

Why Investors Should Ignore the Fed, Interest Rates, and Most News

2022-08-02

just hold for now

Alibaba: Be Greedy When Others Are Fearful

2022-06-12

time to accumulate!

Is Amazon a Buy After Its Stock Split?

2022-03-18

give a like for good luck! 🍀

Over 90% of UP Fintech’s Q4 Newly Funded Accounts Came from Outside China, Achieving 119% of the Annual Target

2022-03-17

an interesting read! 🎢

The Stock Market Is Not a Roller Coaster, a Bull, a Bear or a Dead Cat

2022-03-16

give a like for good luck! 🍀

Wall Street Jumps as S&P Snaps 3-Day Slump; Fed on Tap

2022-03-14

give a like for good luck! 🍀

Sea: The 75% Crash, The Earnings And A Forecast

2022-03-07

a solid buy

Sorry, the original content has been removed

2022-02-28

give a like for good luck! 🍀

Sea Limited Shares Gained Nearly 5% in Morning Trading

2022-02-18

$Sea Ltd(SE)$!!

3 Unstoppable Stocks to Buy at Unbelievable Bargains

2022-02-07

some Warren Wisdom for today ✌🏼

Warren Buffett has called choppy markets a 'huge plus' for investors — and touted stocks as safer than cash or bonds over time.

2022-01-24

is it time to roll up our sleeves again? [Thinking]

Fourth COVID-19 Vaccine Dose Increases Resistance against Infection in People over 60: Israeli Study

2022-01-17

short term volatility is not a problem for longterm winners!

3 Stocks I'm Buying During a Tech Stock Correction

2022-01-09

give a like for good luck! 🍀

My 3 Favorite Stocks Right Now

2022-01-07

yessir Charlie!

Alibaba Rose 2% in Premarket Trading

2021-12-31

good read!!

Sea Limited Shares Jumped More Than 4% in Morning Trading

2021-12-27

keeping the faith in $Tiger Brokers(TIGR)$!!

Sorry, the original content has been removed

2021-09-22

basics are good!

7 Back-To-School Market Lessons For Investors

Go to Tiger App to see more news

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a legend","listText":"what a legend","text":"what a legend","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/246781998948544","repostId":"1139614756","repostType":2,"repost":{"id":"1139614756","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1701255545,"share":"https://www.laohu8.com/m/news/1139614756?lang=&edition=full","pubTime":"2023-11-29 18:59","market":"us","language":"en","title":"Berkshire Hathaway's Charles Munger Passes Away: a Look Back at His Life","url":"https://stock-news.laohu8.com/highlight/detail?id=1139614756","media":"Tiger Newspress","summary":"Charles Munger, the alter ego, sidekick and foil to Warren Buffett for almost 60 years as they transformed Berkshire Hathaway Inc. from a failing textile maker into an empire, has died. He was 99.He d","content":"<html><head></head><body><p>Charles Munger, the alter ego, sidekick and foil to Warren Buffett for almost 60 years as they transformed Berkshire Hathaway Inc. from a failing textile maker into an empire, has died. He was 99.</p><p style=\"text-align: start;\">He died on Tuesday at a California hospital, the company said in a statement. He was a longtime resident of Los Angeles. “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Buffett said in the statement.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e28561eee93a34a6bbe0f6902c6352c4\" tg-width=\"750\" tg-height=\"7019\"/></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6e9b2b17d384ca31804cd6a434c7935c\" tg-width=\"750\" tg-height=\"2579\"/></p><p>A lawyer by training, Munger (rhymes with “hunger”) helped Buffett, who was seven years his junior, craft a philosophy of investing in companies for the long term. Under their management, Berkshire averaged an annual gain of 20% from 1965 through 2022 — roughly twice the pace of the S&amp;P 500 Index. Decades of compounded returns made the pair billionaires and folk heroes to adoring investors.</p><p>Munger was vice chairman of Berkshire and one of its biggest shareholders, with stock valued at about $2.2 billion. His overall net worth was about $2.6 billion, according to Forbes.</p><p style=\"text-align: start;\">At the company’s annual meetings in Omaha, Nebraska, where he and Buffett had both grown up, Munger was known for his roles as straight man and scold of corporate excesses. As Buffett’s fame and wealth grew — depending on Berkshire’s share price, he was on occasion the world’s richest man — Munger’s value as a reality check increased as well.</p><p style=\"text-align: start;\">“It’s terrific to have a partner who will say, ‘You’re not thinking straight,’” Buffett said of Munger, seated next to him, at Berkshire’s 2002 meeting. (“It doesn’t happen very often,” Munger interjected.) Too many CEOs surround themselves with “a bunch of sycophants” disinclined to challenge their conclusions and biases, Buffett added.</p><p style=\"text-align: start;\">For his part, Munger said Buffett benefited from having “a talking foil who knew something. And I think I’ve been very useful in that regard.”</p><h3 id=\"id_276028324\" style=\"text-align: start;\">Beyond Value</h3><p style=\"text-align: start;\">Buffett credited Munger with broadening his approach to investing beyond mentor Benjamin Graham’s insistence on buying stocks at a fraction of the value of their underlying assets. With Munger’s help, he began assembling the insurance, railroad, manufacturing and consumer goods conglomerate that posted nearly $29 billion of operating profit in the first nine months of this year.</p><p>“Charlie has always emphasized, ‘Let’s buy truly wonderful businesses,’” Buffett told the Omaha World-Herald in 1999.</p><p style=\"text-align: start;\">That meant businesses with strong brands and pricing power. Munger nudged Buffett into acquiring California confectioner See’s Candies Inc. in 1972. The success of that deal — Buffett came to view See’s as “the prototype of a dream business” — inspired Berkshire’s $1 billion investment in Coca-Cola Co. stock 15 years later.</p><p>The acerbic Munger so often curbed Buffett’s enthusiasm that Buffett jokingly referred to him as “the abominable no-man.”</p><p style=\"text-align: start;\">At Berkshire’s 2002 meeting, Buffett offered a three-minute answer to the question of whether the company might buy a cable company. Munger said he doubted one would be available for an acceptable price.</p><p style=\"text-align: start;\">“At what price would you be comfortable?” Buffett asked.</p><p style=\"text-align: start;\">“Probably at a lower price than you,” Munger parried.</p><h3 id=\"id_1055707859\" style=\"text-align: start;\">Cardboard Cutout</h3><p style=\"text-align: start;\">From Los Angeles, Munger spoke frequently by phone with Buffett in Omaha. Even when they couldn’t connect, Buffett claimed he knew what Munger would think. When Munger missed a special meeting of Berkshire shareholders in 2010, Buffett brought a cardboard cutout of his partner on stage and mimicked Munger saying, “I couldn’t agree more.”</p><p>Munger was an outspoken critic of corporate misbehavior, faulting as “demented” and “immoral” the compensation packages given to some chief executives. He called Bitcoin “noxious poison,” defined cryptocurrency generally as “partly fraud and partly delusion” and warned that much of banking had become “gambling in drag.”</p><p>“I love his ability to just cut to the heart of things and not care how he says it,” said Cole Smead, CEO of Smead Capital Management, a longtime Berkshire investor. “In today’s society, that’s a really unique thing.”</p><p style=\"text-align: start;\">Though Munger aligned with the US Republican Party, and Buffett sided with Democrats, the two often found common ground on issues like the desirability of universal health care and the need for government oversight of the financial system.</p><p style=\"text-align: start;\">But while Buffett would tour the world urging billionaires to embrace charity, Munger said a private company like Costco Wholesale Corp. — he served on its board for more than two decades — did more good for society than big-name philanthropic foundations.</p><p style=\"text-align: start;\">With his own donations, Munger promoted abortion rights and education. He served as chairman of Good Samaritan Hospital in Los Angeles. Multimillion-dollar bequests to the University of Michigan and the University of California at Santa Barbara for new housing facilities gave him an opportunity to indulge a passion for architecture — though his vision for a 4,500-person dormitory on the Santa Barbara campus drew howls of protest in 2021 because the vast majority of bedrooms were to have no windows.</p><h3 id=\"id_1545626341\" style=\"text-align: start;\">Wesco ‘Groupies’</h3><p style=\"text-align: start;\">Though he never rivaled Buffett in terms of worldwide celebrity, Munger’s blunt manner of speaking earned him a following in his own right.</p><p>He used the term “groupies” to refer to his fans, often numbering in the hundreds, who gathered to see him without Buffett. Hosting the annual meetings of Wesco Financial Corp., a Berkshire unit, in Pasadena, California, Munger expounded on his philosophy of life and investing.</p><p style=\"text-align: start;\">At the 2011 meeting, the last before Berkshire took complete control of Wesco, Munger told his audience, “You all need a new cult hero.”</p><p style=\"text-align: start;\">Charles Thomas Munger was born on Jan. 1, 1924, in Omaha, the first of three children of Alfred Munger and the former Florence Russell, who was known as Toody. His father, the son of a federal judge, had earned a law degree at Harvard University before returning to Omaha, where his clients included the Omaha World-Herald newspaper.</p><p>Munger’s initial brush with the Buffett family came through his work on Saturdays at Buffett &amp; Son, the Omaha grocery store run by Ernest Buffett, Warren’s grandfather. But the two future partners wouldn’t meet until years later.</p><p style=\"text-align: start;\">Munger entered the University of Michigan at age 17 with plans to study math, mostly because it came so easily. “When I was young I could get an A in any mathematics course without doing any work at all,” he said in a 2017 conversation at Michigan’s Ross Business School.</p><h3 id=\"id_2417683429\" style=\"text-align: start;\">Nome to Harvard</h3><p style=\"text-align: start;\">In 1942, during his sophomore year, he enlisted in the Army Air Corps, soon to become the Air Force. He was sent to the California Institute of Technology to learn meteorology before being posted to Nome, Alaska. It was during this period, in 1945, that he married his first wife, Nancy Huggins.</p><p>Lacking an undergraduate degree, Munger applied to Harvard Law School before his Army discharge in 1946. He was admitted only after a family friend and former dean of the school intervened, according to Janet Lowe’s 2000 book, <em>Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger</em>. Munger worked on the Harvard Law Review and in 1948 was one of 12 in the class of 335 to graduate magna cum laude.</p><p>With his wife and their son, Teddy, Munger moved to California to join a Los Angeles law firm. They added two daughters to their family before divorcing in 1953. In 1956, Munger married Nancy Barry Borthwick, a mother of two, and over time they expanded their blended family by having four more children. (Teddy, Munger’s first-born, had died of leukemia in 1955.)</p><p style=\"text-align: start;\">Not satisfied with the income potential of his legal career, Munger began working on construction projects and real estate deals. He founded a new law office, Munger, Tolles &amp; Hills, and, in 1962, started an investment partnership, Wheeler, Munger &amp; Co., modeled on the ones Buffett had set up with his earliest investors in Omaha.</p><p style=\"text-align: start;\">“Like Warren, I had a considerable passion to get rich,” Munger told Roger Lowenstein for <em>Buffett: The Making of an American Capitalist,</em> published in 1995. “Not because I wanted Ferraris — I wanted independence. I desperately wanted it. I thought it was undignified to have to send invoices to other people.”</p><h3 id=\"id_3804965469\" style=\"text-align: start;\">1959 Introduction</h3><p style=\"text-align: start;\">His fateful introduction to Buffett had come during a 1959 visit home to Omaha. Though the precise venue of their first meeting was the subject of lore, it was clear they hit it off right away. In short order they were talking on the telephone almost daily and investing in the same companies and securities.</p><p>Their investments in Berkshire Hathaway began in 1962, when the company made men’s suit linings at textile mills in Massachusetts. Buffett took a controlling stake in 1965. Though the mills closed, Berkshire stuck around as the corporate vehicle for Buffett’s growing conglomerate of companies.</p><p style=\"text-align: start;\">A crucial joint discovery was a company called Blue Chip Stamps, which ran popular redemption games offered by grocers and other retailers. Because stores paid for the stamps up front, and prizes were redeemed much later, Blue Chip at any given time was sitting on a stack of money, much like a bank does.</p><p style=\"text-align: start;\">Using that pool of capital, Buffett and Munger bought controlling shares in See’s Candies, the Buffalo Evening News and Wesco Financial, the company Munger would lead.</p><p style=\"text-align: start;\">In 1975, the US Securities and Exchange Commission alleged that Blue Chip Stamps had manipulated the price of Wesco because Buffett and Munger had persuaded its management to drop a merger plan. Blue Chip resolved the dispute by agreeing to pay former investors in Wesco a total of about $115,000, with no admission of guilt.</p><p>The ordeal underscored the risks in Buffett and Munger having such complicated and overlapping financial interests. A years-long effort to simplify matters culminated in 1983 with Blue Chip Stamps merging into Berkshire. Munger, whose Berkshire stake rose to 2%, became Buffett’s vice chairman.</p><h3 id=\"id_1080936549\" style=\"text-align: start;\">China Bull</h3><p style=\"text-align: start;\">In recent years, Munger’s fans continued to travel to Los Angeles to ask him questions at annual meetings of Daily Journal Corp., a publishing company he led as chairman. He displayed his knack for investing by plowing the company’s money into temporarily beaten-down stocks like Wells Fargo &amp; Co. during the depths of the 2008-2009 financial crisis.</p><p>Munger was for many years more bullish than Buffett when it came to investing in China. Berkshire became the biggest shareholder of Chinese automaker BYD Co., for instance, years after Munger began buying its stock, though Berkshire began trimming that stake in 2022.</p><p style=\"text-align: start;\">Munger started sharing his vice chairman title at Berkshire in 2018 with two next-generation senior executives, Greg Abel and Ajit Jain, who were named to the board in a long-awaited sign of Buffett’s succession plans. Buffett subsequently identified Abel as his likely successor.</p><p style=\"text-align: start;\">It was Munger who, three years earlier, had signaled the likely promotion of Abel and Jain with praise delivered in his signature fashion: with a backhanded swipe at the boss.</p><p style=\"text-align: start;\">“In some important ways,” he wrote of the pair in 2015, “each is a better business executive than Buffett.”</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Berkshire Hathaway's Charles Munger Passes Away: a Look Back at His Life</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBerkshire Hathaway's Charles Munger Passes Away: a Look Back at His Life\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-11-29 18:59</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Charles Munger, the alter ego, sidekick and foil to Warren Buffett for almost 60 years as they transformed Berkshire Hathaway Inc. from a failing textile maker into an empire, has died. He was 99.</p><p style=\"text-align: start;\">He died on Tuesday at a California hospital, the company said in a statement. He was a longtime resident of Los Angeles. “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Buffett said in the statement.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e28561eee93a34a6bbe0f6902c6352c4\" tg-width=\"750\" tg-height=\"7019\"/></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6e9b2b17d384ca31804cd6a434c7935c\" tg-width=\"750\" tg-height=\"2579\"/></p><p>A lawyer by training, Munger (rhymes with “hunger”) helped Buffett, who was seven years his junior, craft a philosophy of investing in companies for the long term. Under their management, Berkshire averaged an annual gain of 20% from 1965 through 2022 — roughly twice the pace of the S&amp;P 500 Index. Decades of compounded returns made the pair billionaires and folk heroes to adoring investors.</p><p>Munger was vice chairman of Berkshire and one of its biggest shareholders, with stock valued at about $2.2 billion. His overall net worth was about $2.6 billion, according to Forbes.</p><p style=\"text-align: start;\">At the company’s annual meetings in Omaha, Nebraska, where he and Buffett had both grown up, Munger was known for his roles as straight man and scold of corporate excesses. As Buffett’s fame and wealth grew — depending on Berkshire’s share price, he was on occasion the world’s richest man — Munger’s value as a reality check increased as well.</p><p style=\"text-align: start;\">“It’s terrific to have a partner who will say, ‘You’re not thinking straight,’” Buffett said of Munger, seated next to him, at Berkshire’s 2002 meeting. (“It doesn’t happen very often,” Munger interjected.) Too many CEOs surround themselves with “a bunch of sycophants” disinclined to challenge their conclusions and biases, Buffett added.</p><p style=\"text-align: start;\">For his part, Munger said Buffett benefited from having “a talking foil who knew something. And I think I’ve been very useful in that regard.”</p><h3 id=\"id_276028324\" style=\"text-align: start;\">Beyond Value</h3><p style=\"text-align: start;\">Buffett credited Munger with broadening his approach to investing beyond mentor Benjamin Graham’s insistence on buying stocks at a fraction of the value of their underlying assets. With Munger’s help, he began assembling the insurance, railroad, manufacturing and consumer goods conglomerate that posted nearly $29 billion of operating profit in the first nine months of this year.</p><p>“Charlie has always emphasized, ‘Let’s buy truly wonderful businesses,’” Buffett told the Omaha World-Herald in 1999.</p><p style=\"text-align: start;\">That meant businesses with strong brands and pricing power. Munger nudged Buffett into acquiring California confectioner See’s Candies Inc. in 1972. The success of that deal — Buffett came to view See’s as “the prototype of a dream business” — inspired Berkshire’s $1 billion investment in Coca-Cola Co. stock 15 years later.</p><p>The acerbic Munger so often curbed Buffett’s enthusiasm that Buffett jokingly referred to him as “the abominable no-man.”</p><p style=\"text-align: start;\">At Berkshire’s 2002 meeting, Buffett offered a three-minute answer to the question of whether the company might buy a cable company. Munger said he doubted one would be available for an acceptable price.</p><p style=\"text-align: start;\">“At what price would you be comfortable?” Buffett asked.</p><p style=\"text-align: start;\">“Probably at a lower price than you,” Munger parried.</p><h3 id=\"id_1055707859\" style=\"text-align: start;\">Cardboard Cutout</h3><p style=\"text-align: start;\">From Los Angeles, Munger spoke frequently by phone with Buffett in Omaha. Even when they couldn’t connect, Buffett claimed he knew what Munger would think. When Munger missed a special meeting of Berkshire shareholders in 2010, Buffett brought a cardboard cutout of his partner on stage and mimicked Munger saying, “I couldn’t agree more.”</p><p>Munger was an outspoken critic of corporate misbehavior, faulting as “demented” and “immoral” the compensation packages given to some chief executives. He called Bitcoin “noxious poison,” defined cryptocurrency generally as “partly fraud and partly delusion” and warned that much of banking had become “gambling in drag.”</p><p>“I love his ability to just cut to the heart of things and not care how he says it,” said Cole Smead, CEO of Smead Capital Management, a longtime Berkshire investor. “In today’s society, that’s a really unique thing.”</p><p style=\"text-align: start;\">Though Munger aligned with the US Republican Party, and Buffett sided with Democrats, the two often found common ground on issues like the desirability of universal health care and the need for government oversight of the financial system.</p><p style=\"text-align: start;\">But while Buffett would tour the world urging billionaires to embrace charity, Munger said a private company like Costco Wholesale Corp. — he served on its board for more than two decades — did more good for society than big-name philanthropic foundations.</p><p style=\"text-align: start;\">With his own donations, Munger promoted abortion rights and education. He served as chairman of Good Samaritan Hospital in Los Angeles. Multimillion-dollar bequests to the University of Michigan and the University of California at Santa Barbara for new housing facilities gave him an opportunity to indulge a passion for architecture — though his vision for a 4,500-person dormitory on the Santa Barbara campus drew howls of protest in 2021 because the vast majority of bedrooms were to have no windows.</p><h3 id=\"id_1545626341\" style=\"text-align: start;\">Wesco ‘Groupies’</h3><p style=\"text-align: start;\">Though he never rivaled Buffett in terms of worldwide celebrity, Munger’s blunt manner of speaking earned him a following in his own right.</p><p>He used the term “groupies” to refer to his fans, often numbering in the hundreds, who gathered to see him without Buffett. Hosting the annual meetings of Wesco Financial Corp., a Berkshire unit, in Pasadena, California, Munger expounded on his philosophy of life and investing.</p><p style=\"text-align: start;\">At the 2011 meeting, the last before Berkshire took complete control of Wesco, Munger told his audience, “You all need a new cult hero.”</p><p style=\"text-align: start;\">Charles Thomas Munger was born on Jan. 1, 1924, in Omaha, the first of three children of Alfred Munger and the former Florence Russell, who was known as Toody. His father, the son of a federal judge, had earned a law degree at Harvard University before returning to Omaha, where his clients included the Omaha World-Herald newspaper.</p><p>Munger’s initial brush with the Buffett family came through his work on Saturdays at Buffett &amp; Son, the Omaha grocery store run by Ernest Buffett, Warren’s grandfather. But the two future partners wouldn’t meet until years later.</p><p style=\"text-align: start;\">Munger entered the University of Michigan at age 17 with plans to study math, mostly because it came so easily. “When I was young I could get an A in any mathematics course without doing any work at all,” he said in a 2017 conversation at Michigan’s Ross Business School.</p><h3 id=\"id_2417683429\" style=\"text-align: start;\">Nome to Harvard</h3><p style=\"text-align: start;\">In 1942, during his sophomore year, he enlisted in the Army Air Corps, soon to become the Air Force. He was sent to the California Institute of Technology to learn meteorology before being posted to Nome, Alaska. It was during this period, in 1945, that he married his first wife, Nancy Huggins.</p><p>Lacking an undergraduate degree, Munger applied to Harvard Law School before his Army discharge in 1946. He was admitted only after a family friend and former dean of the school intervened, according to Janet Lowe’s 2000 book, <em>Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger</em>. Munger worked on the Harvard Law Review and in 1948 was one of 12 in the class of 335 to graduate magna cum laude.</p><p>With his wife and their son, Teddy, Munger moved to California to join a Los Angeles law firm. They added two daughters to their family before divorcing in 1953. In 1956, Munger married Nancy Barry Borthwick, a mother of two, and over time they expanded their blended family by having four more children. (Teddy, Munger’s first-born, had died of leukemia in 1955.)</p><p style=\"text-align: start;\">Not satisfied with the income potential of his legal career, Munger began working on construction projects and real estate deals. He founded a new law office, Munger, Tolles &amp; Hills, and, in 1962, started an investment partnership, Wheeler, Munger &amp; Co., modeled on the ones Buffett had set up with his earliest investors in Omaha.</p><p style=\"text-align: start;\">“Like Warren, I had a considerable passion to get rich,” Munger told Roger Lowenstein for <em>Buffett: The Making of an American Capitalist,</em> published in 1995. “Not because I wanted Ferraris — I wanted independence. I desperately wanted it. I thought it was undignified to have to send invoices to other people.”</p><h3 id=\"id_3804965469\" style=\"text-align: start;\">1959 Introduction</h3><p style=\"text-align: start;\">His fateful introduction to Buffett had come during a 1959 visit home to Omaha. Though the precise venue of their first meeting was the subject of lore, it was clear they hit it off right away. In short order they were talking on the telephone almost daily and investing in the same companies and securities.</p><p>Their investments in Berkshire Hathaway began in 1962, when the company made men’s suit linings at textile mills in Massachusetts. Buffett took a controlling stake in 1965. Though the mills closed, Berkshire stuck around as the corporate vehicle for Buffett’s growing conglomerate of companies.</p><p style=\"text-align: start;\">A crucial joint discovery was a company called Blue Chip Stamps, which ran popular redemption games offered by grocers and other retailers. Because stores paid for the stamps up front, and prizes were redeemed much later, Blue Chip at any given time was sitting on a stack of money, much like a bank does.</p><p style=\"text-align: start;\">Using that pool of capital, Buffett and Munger bought controlling shares in See’s Candies, the Buffalo Evening News and Wesco Financial, the company Munger would lead.</p><p style=\"text-align: start;\">In 1975, the US Securities and Exchange Commission alleged that Blue Chip Stamps had manipulated the price of Wesco because Buffett and Munger had persuaded its management to drop a merger plan. Blue Chip resolved the dispute by agreeing to pay former investors in Wesco a total of about $115,000, with no admission of guilt.</p><p>The ordeal underscored the risks in Buffett and Munger having such complicated and overlapping financial interests. A years-long effort to simplify matters culminated in 1983 with Blue Chip Stamps merging into Berkshire. Munger, whose Berkshire stake rose to 2%, became Buffett’s vice chairman.</p><h3 id=\"id_1080936549\" style=\"text-align: start;\">China Bull</h3><p style=\"text-align: start;\">In recent years, Munger’s fans continued to travel to Los Angeles to ask him questions at annual meetings of Daily Journal Corp., a publishing company he led as chairman. He displayed his knack for investing by plowing the company’s money into temporarily beaten-down stocks like Wells Fargo &amp; Co. during the depths of the 2008-2009 financial crisis.</p><p>Munger was for many years more bullish than Buffett when it came to investing in China. Berkshire became the biggest shareholder of Chinese automaker BYD Co., for instance, years after Munger began buying its stock, though Berkshire began trimming that stake in 2022.</p><p style=\"text-align: start;\">Munger started sharing his vice chairman title at Berkshire in 2018 with two next-generation senior executives, Greg Abel and Ajit Jain, who were named to the board in a long-awaited sign of Buffett’s succession plans. Buffett subsequently identified Abel as his likely successor.</p><p style=\"text-align: start;\">It was Munger who, three years earlier, had signaled the likely promotion of Abel and Jain with praise delivered in his signature fashion: with a backhanded swipe at the boss.</p><p style=\"text-align: start;\">“In some important ways,” he wrote of the pair in 2015, “each is a better business executive than Buffett.”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139614756","content_text":"Charles Munger, the alter ego, sidekick and foil to Warren Buffett for almost 60 years as they transformed Berkshire Hathaway Inc. from a failing textile maker into an empire, has died. He was 99.He died on Tuesday at a California hospital, the company said in a statement. He was a longtime resident of Los Angeles. “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Buffett said in the statement.A lawyer by training, Munger (rhymes with “hunger”) helped Buffett, who was seven years his junior, craft a philosophy of investing in companies for the long term. Under their management, Berkshire averaged an annual gain of 20% from 1965 through 2022 — roughly twice the pace of the S&P 500 Index. Decades of compounded returns made the pair billionaires and folk heroes to adoring investors.Munger was vice chairman of Berkshire and one of its biggest shareholders, with stock valued at about $2.2 billion. His overall net worth was about $2.6 billion, according to Forbes.At the company’s annual meetings in Omaha, Nebraska, where he and Buffett had both grown up, Munger was known for his roles as straight man and scold of corporate excesses. As Buffett’s fame and wealth grew — depending on Berkshire’s share price, he was on occasion the world’s richest man — Munger’s value as a reality check increased as well.“It’s terrific to have a partner who will say, ‘You’re not thinking straight,’” Buffett said of Munger, seated next to him, at Berkshire’s 2002 meeting. (“It doesn’t happen very often,” Munger interjected.) Too many CEOs surround themselves with “a bunch of sycophants” disinclined to challenge their conclusions and biases, Buffett added.For his part, Munger said Buffett benefited from having “a talking foil who knew something. And I think I’ve been very useful in that regard.”Beyond ValueBuffett credited Munger with broadening his approach to investing beyond mentor Benjamin Graham’s insistence on buying stocks at a fraction of the value of their underlying assets. With Munger’s help, he began assembling the insurance, railroad, manufacturing and consumer goods conglomerate that posted nearly $29 billion of operating profit in the first nine months of this year.“Charlie has always emphasized, ‘Let’s buy truly wonderful businesses,’” Buffett told the Omaha World-Herald in 1999.That meant businesses with strong brands and pricing power. Munger nudged Buffett into acquiring California confectioner See’s Candies Inc. in 1972. The success of that deal — Buffett came to view See’s as “the prototype of a dream business” — inspired Berkshire’s $1 billion investment in Coca-Cola Co. stock 15 years later.The acerbic Munger so often curbed Buffett’s enthusiasm that Buffett jokingly referred to him as “the abominable no-man.”At Berkshire’s 2002 meeting, Buffett offered a three-minute answer to the question of whether the company might buy a cable company. Munger said he doubted one would be available for an acceptable price.“At what price would you be comfortable?” Buffett asked.“Probably at a lower price than you,” Munger parried.Cardboard CutoutFrom Los Angeles, Munger spoke frequently by phone with Buffett in Omaha. Even when they couldn’t connect, Buffett claimed he knew what Munger would think. When Munger missed a special meeting of Berkshire shareholders in 2010, Buffett brought a cardboard cutout of his partner on stage and mimicked Munger saying, “I couldn’t agree more.”Munger was an outspoken critic of corporate misbehavior, faulting as “demented” and “immoral” the compensation packages given to some chief executives. He called Bitcoin “noxious poison,” defined cryptocurrency generally as “partly fraud and partly delusion” and warned that much of banking had become “gambling in drag.”“I love his ability to just cut to the heart of things and not care how he says it,” said Cole Smead, CEO of Smead Capital Management, a longtime Berkshire investor. “In today’s society, that’s a really unique thing.”Though Munger aligned with the US Republican Party, and Buffett sided with Democrats, the two often found common ground on issues like the desirability of universal health care and the need for government oversight of the financial system.But while Buffett would tour the world urging billionaires to embrace charity, Munger said a private company like Costco Wholesale Corp. — he served on its board for more than two decades — did more good for society than big-name philanthropic foundations.With his own donations, Munger promoted abortion rights and education. He served as chairman of Good Samaritan Hospital in Los Angeles. Multimillion-dollar bequests to the University of Michigan and the University of California at Santa Barbara for new housing facilities gave him an opportunity to indulge a passion for architecture — though his vision for a 4,500-person dormitory on the Santa Barbara campus drew howls of protest in 2021 because the vast majority of bedrooms were to have no windows.Wesco ‘Groupies’Though he never rivaled Buffett in terms of worldwide celebrity, Munger’s blunt manner of speaking earned him a following in his own right.He used the term “groupies” to refer to his fans, often numbering in the hundreds, who gathered to see him without Buffett. Hosting the annual meetings of Wesco Financial Corp., a Berkshire unit, in Pasadena, California, Munger expounded on his philosophy of life and investing.At the 2011 meeting, the last before Berkshire took complete control of Wesco, Munger told his audience, “You all need a new cult hero.”Charles Thomas Munger was born on Jan. 1, 1924, in Omaha, the first of three children of Alfred Munger and the former Florence Russell, who was known as Toody. His father, the son of a federal judge, had earned a law degree at Harvard University before returning to Omaha, where his clients included the Omaha World-Herald newspaper.Munger’s initial brush with the Buffett family came through his work on Saturdays at Buffett & Son, the Omaha grocery store run by Ernest Buffett, Warren’s grandfather. But the two future partners wouldn’t meet until years later.Munger entered the University of Michigan at age 17 with plans to study math, mostly because it came so easily. “When I was young I could get an A in any mathematics course without doing any work at all,” he said in a 2017 conversation at Michigan’s Ross Business School.Nome to HarvardIn 1942, during his sophomore year, he enlisted in the Army Air Corps, soon to become the Air Force. He was sent to the California Institute of Technology to learn meteorology before being posted to Nome, Alaska. It was during this period, in 1945, that he married his first wife, Nancy Huggins.Lacking an undergraduate degree, Munger applied to Harvard Law School before his Army discharge in 1946. He was admitted only after a family friend and former dean of the school intervened, according to Janet Lowe’s 2000 book, Damn Right! Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger. Munger worked on the Harvard Law Review and in 1948 was one of 12 in the class of 335 to graduate magna cum laude.With his wife and their son, Teddy, Munger moved to California to join a Los Angeles law firm. They added two daughters to their family before divorcing in 1953. In 1956, Munger married Nancy Barry Borthwick, a mother of two, and over time they expanded their blended family by having four more children. (Teddy, Munger’s first-born, had died of leukemia in 1955.)Not satisfied with the income potential of his legal career, Munger began working on construction projects and real estate deals. He founded a new law office, Munger, Tolles & Hills, and, in 1962, started an investment partnership, Wheeler, Munger & Co., modeled on the ones Buffett had set up with his earliest investors in Omaha.“Like Warren, I had a considerable passion to get rich,” Munger told Roger Lowenstein for Buffett: The Making of an American Capitalist, published in 1995. “Not because I wanted Ferraris — I wanted independence. I desperately wanted it. I thought it was undignified to have to send invoices to other people.”1959 IntroductionHis fateful introduction to Buffett had come during a 1959 visit home to Omaha. Though the precise venue of their first meeting was the subject of lore, it was clear they hit it off right away. In short order they were talking on the telephone almost daily and investing in the same companies and securities.Their investments in Berkshire Hathaway began in 1962, when the company made men’s suit linings at textile mills in Massachusetts. Buffett took a controlling stake in 1965. Though the mills closed, Berkshire stuck around as the corporate vehicle for Buffett’s growing conglomerate of companies.A crucial joint discovery was a company called Blue Chip Stamps, which ran popular redemption games offered by grocers and other retailers. Because stores paid for the stamps up front, and prizes were redeemed much later, Blue Chip at any given time was sitting on a stack of money, much like a bank does.Using that pool of capital, Buffett and Munger bought controlling shares in See’s Candies, the Buffalo Evening News and Wesco Financial, the company Munger would lead.In 1975, the US Securities and Exchange Commission alleged that Blue Chip Stamps had manipulated the price of Wesco because Buffett and Munger had persuaded its management to drop a merger plan. Blue Chip resolved the dispute by agreeing to pay former investors in Wesco a total of about $115,000, with no admission of guilt.The ordeal underscored the risks in Buffett and Munger having such complicated and overlapping financial interests. A years-long effort to simplify matters culminated in 1983 with Blue Chip Stamps merging into Berkshire. Munger, whose Berkshire stake rose to 2%, became Buffett’s vice chairman.China BullIn recent years, Munger’s fans continued to travel to Los Angeles to ask him questions at annual meetings of Daily Journal Corp., a publishing company he led as chairman. He displayed his knack for investing by plowing the company’s money into temporarily beaten-down stocks like Wells Fargo & Co. during the depths of the 2008-2009 financial crisis.Munger was for many years more bullish than Buffett when it came to investing in China. Berkshire became the biggest shareholder of Chinese automaker BYD Co., for instance, years after Munger began buying its stock, though Berkshire began trimming that stake in 2022.Munger started sharing his vice chairman title at Berkshire in 2018 with two next-generation senior executives, Greg Abel and Ajit Jain, who were named to the board in a long-awaited sign of Buffett’s succession plans. Buffett subsequently identified Abel as his likely successor.It was Munger who, three years earlier, had signaled the likely promotion of Abel and Jain with praise delivered in his signature fashion: with a backhanded swipe at the boss.“In some important ways,” he wrote of the pair in 2015, “each is a better business executive than Buffett.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9994141376,"gmtCreate":1661582012197,"gmtModify":1676536546452,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"the decision to buy Tesla depends on our own risk appetite and whether it fits in with&nbsp;the other stocks in iur portfolio. it is important to take ownership of our own investing decisions and not buy whatever is in the news.&nbsp;","listText":"the decision to buy Tesla depends on our own risk appetite and whether it fits in with&nbsp;the other stocks in iur portfolio. it is important to take ownership of our own investing decisions and not buy whatever is in the news.&nbsp;","text":"the decision to buy Tesla depends on our own risk appetite and whether it fits in with the other stocks in iur portfolio. it is important to take ownership of our own investing decisions and not buy whatever is in the news.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9994141376","isVote":1,"tweetType":1,"viewCount":548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9994152864,"gmtCreate":1661580976160,"gmtModify":1676536546275,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"focus on fundamentals!","listText":"focus on fundamentals!","text":"focus on fundamentals!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9994152864","repostId":"2262977847","repostType":4,"repost":{"id":"2262977847","pubTimestamp":1661561509,"share":"https://www.laohu8.com/m/news/2262977847?lang=&edition=full","pubTime":"2022-08-27 08:51","market":"us","language":"en","title":"Why Investors Should Ignore the Fed, Interest Rates, and Most News","url":"https://stock-news.laohu8.com/highlight/detail?id=2262977847","media":"TheStreet","summary":"The stock market often makes big moves based on short-term news. When Jerome Powell mentions that in","content":"<html><head></head><body><p>The stock market often makes big moves based on short-term news. When Jerome Powell mentions that interest rates may continue to rise to combat inflation, the Dow and Nasdaq generally drop -- unless they don&#39;t because people expected worse or assume that the news was already priced into the market.</p><p>It&#39;s an inexact science where people make reactionary moves that send markets up or down based on some sort of prevailing wisdom. Basically, people take short-term news and conflate it to have long-term meaning.</p><p>The media -- of which I have been a member for roughly 30 years -- do not generally help calm the short-term hysteria.</p><p>People don&#39;t get paid to go on cable-news channels to express<b> </b>reasoned long-term opinions. They&#39;re supposed to fire off hot takes, which make it seem as if the Fed&#39;s rate move or the monthly jobs number has a huge<b> </b>impact on the stock market.</p><p>In reality, broader economic conditions clearly have an impact on individual stocks, but that&#39;s not nearly as simple as people would have you believe.</p><p>For example, a weakening economy might be worse for <a href=\"https://laohu8.com/S/AAPL\">Apple</a>  because people might be wary of buying expensive new phones. Or the same economy could benefit Apple because consumers will hold back on vacations, new cars, and other expensive purchases and spend on more-affordable luxuries like streaming TV, music, and fitness, or maybe even a new phone, which is a lot cheaper than many vacations.</p><h2>Short-Term Stock Market Moves Don&#39;t Much Matter</h2><p>A lot of people day-trade and try to guess how the market might perform day-to-day or even hour-to-hour. Long-term investors buy good companies and hold them for years. That&#39;s how the average person can build wealth, and it&#39;s a strategy that does not depend on you trying to figure out what Federal Reserve Chairman Jerome Powell&#39;s comment or any Fed move means at a micro level.</p><p>Instead, every news report is a piece of a bigger puzzle. Yes, the country&#39;s long-term financial health tells you things about how various companies will perform, but isolated data points generally mean very little.</p><p>If we go back to looking at Apple, for example, the company&#39;s quarterly earnings reports often show double-digit growth in every category -- and the stock price falls after the report. Sometimes that&#39;s because investors expected more or analysts didn&#39;t like the outlook management described. But you can&#39;t judge companies based on one quarter.</p><p>When you assess an earnings report, you have to compare it with the company&#39;s long-term road map. Did Apple, for example, grow service revenue, something the tech giant has been working on for years? Are long-term sales goals being met even if they&#39;re not happening in exactly the way the company thought they might?</p><p>For example, when Apple introduces the new iPhone, in September, sales may be front-loaded or people may wait a few weeks, until the holiday season, before they buy. In a broader sense, many customers may wait until their current phone gets paid off. It&#39;s a 12-month cycle where the destination, not how you get there, matters.</p><h2>So Much Noise, So Little News</h2><p>It&#39;s a 24-hour/7-day-a-week news cycle, and media outlets tied to that wheel can&#39;t tell you that what&#39;s happening in the moment is one data point of many, not a meaningful, actionable item on its own.</p><p>Higher interest rates, for example, mean higher mortgage rates, which in turn could slow the housing market and bring prices down (or at least slow their growth).</p><p>That&#39;s not a simple equation. Cheaper sale prices with higher mortgage rates might increase affordability for buyers but they also slow wealth creation for sellers.</p><p>Both are interesting data points when you look at lots of different stocks, but evaluating a company&#39;s prospects is much more about how its management executes a plan while adjusting for economic conditions.</p><p><a href=\"https://laohu8.com/S/PTON\">Peloton</a> and <a href=\"https://laohu8.com/S/NFLX\">Netflix</a>, for example, have taken very different approaches to the end of the pandemic-driven boom.</p><p>Netflix always talked about how it was pulling growth forward, warning that at some point there would be quarters with slight drops. The company explained how it would get more efficient with its content spending and focus on new areas like video games to drive growth.</p><p>You can believe that strategy will work -- I&#39;m bullish on more focused content spending and I think games are lighting money on fire. But how the company executes on its clearly explained strategy means a lot more to its future than an interest rate move or whether <a href=\"https://laohu8.com/S/DIS\">Disney</a> has an Avengers movie in theaters at this exact moment.</p><p>Peloton, for its part, has never really articulated a plan for a return to growth after the pandemic pushed forward its customer acquisition. Yes, the broader economy matters more to Peloton than it does to Netflix, but you should buy, sell, or ignore the company&#39;s stock based on whether you believe in its long-term business plan, not because the cost of financing a bike just got marginally more expensive.</p><p>The media want to keep things simple. That&#39;s why the weatherperson tells you it&#39;s going to snow, how much may fall, and what the temperature will be, not the underlying science that leads to those things happening.</p><p>It&#39;s easy to conflate single data points to stock market moves because when we get data, the market moves, but those moves don&#39;t actually speak to long-term performance.</p><p>When you consider investing in a company or selling a stock you own, look at as many data points as you can, and don&#39;t make blanket assumptions that higher interest rates or a weaker economy are bad (or good) for that company.</p><p>Remember that charts, numbers, expert opinions, and everything else are tools to help you understand the bigger picture. No one of them is the last word.</p></body></html>","source":"thestreet_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Investors Should Ignore the Fed, Interest Rates, and Most News</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Investors Should Ignore the Fed, Interest Rates, and Most News\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-27 08:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/why-investors-should-ignore-the-fed-interest-rates-and-most-news><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The stock market often makes big moves based on short-term news. When Jerome Powell mentions that interest rates may continue to rise to combat inflation, the Dow and Nasdaq generally drop -- unless ...</p>\n\n<a href=\"https://www.thestreet.com/investing/why-investors-should-ignore-the-fed-interest-rates-and-most-news\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.thestreet.com/investing/why-investors-should-ignore-the-fed-interest-rates-and-most-news","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2262977847","content_text":"The stock market often makes big moves based on short-term news. When Jerome Powell mentions that interest rates may continue to rise to combat inflation, the Dow and Nasdaq generally drop -- unless they don't because people expected worse or assume that the news was already priced into the market.It's an inexact science where people make reactionary moves that send markets up or down based on some sort of prevailing wisdom. Basically, people take short-term news and conflate it to have long-term meaning.The media -- of which I have been a member for roughly 30 years -- do not generally help calm the short-term hysteria.People don't get paid to go on cable-news channels to express reasoned long-term opinions. They're supposed to fire off hot takes, which make it seem as if the Fed's rate move or the monthly jobs number has a huge impact on the stock market.In reality, broader economic conditions clearly have an impact on individual stocks, but that's not nearly as simple as people would have you believe.For example, a weakening economy might be worse for Apple  because people might be wary of buying expensive new phones. Or the same economy could benefit Apple because consumers will hold back on vacations, new cars, and other expensive purchases and spend on more-affordable luxuries like streaming TV, music, and fitness, or maybe even a new phone, which is a lot cheaper than many vacations.Short-Term Stock Market Moves Don't Much MatterA lot of people day-trade and try to guess how the market might perform day-to-day or even hour-to-hour. Long-term investors buy good companies and hold them for years. That's how the average person can build wealth, and it's a strategy that does not depend on you trying to figure out what Federal Reserve Chairman Jerome Powell's comment or any Fed move means at a micro level.Instead, every news report is a piece of a bigger puzzle. Yes, the country's long-term financial health tells you things about how various companies will perform, but isolated data points generally mean very little.If we go back to looking at Apple, for example, the company's quarterly earnings reports often show double-digit growth in every category -- and the stock price falls after the report. Sometimes that's because investors expected more or analysts didn't like the outlook management described. But you can't judge companies based on one quarter.When you assess an earnings report, you have to compare it with the company's long-term road map. Did Apple, for example, grow service revenue, something the tech giant has been working on for years? Are long-term sales goals being met even if they're not happening in exactly the way the company thought they might?For example, when Apple introduces the new iPhone, in September, sales may be front-loaded or people may wait a few weeks, until the holiday season, before they buy. In a broader sense, many customers may wait until their current phone gets paid off. It's a 12-month cycle where the destination, not how you get there, matters.So Much Noise, So Little NewsIt's a 24-hour/7-day-a-week news cycle, and media outlets tied to that wheel can't tell you that what's happening in the moment is one data point of many, not a meaningful, actionable item on its own.Higher interest rates, for example, mean higher mortgage rates, which in turn could slow the housing market and bring prices down (or at least slow their growth).That's not a simple equation. Cheaper sale prices with higher mortgage rates might increase affordability for buyers but they also slow wealth creation for sellers.Both are interesting data points when you look at lots of different stocks, but evaluating a company's prospects is much more about how its management executes a plan while adjusting for economic conditions.Peloton and Netflix, for example, have taken very different approaches to the end of the pandemic-driven boom.Netflix always talked about how it was pulling growth forward, warning that at some point there would be quarters with slight drops. The company explained how it would get more efficient with its content spending and focus on new areas like video games to drive growth.You can believe that strategy will work -- I'm bullish on more focused content spending and I think games are lighting money on fire. But how the company executes on its clearly explained strategy means a lot more to its future than an interest rate move or whether Disney has an Avengers movie in theaters at this exact moment.Peloton, for its part, has never really articulated a plan for a return to growth after the pandemic pushed forward its customer acquisition. Yes, the broader economy matters more to Peloton than it does to Netflix, but you should buy, sell, or ignore the company's stock based on whether you believe in its long-term business plan, not because the cost of financing a bike just got marginally more expensive.The media want to keep things simple. That's why the weatherperson tells you it's going to snow, how much may fall, and what the temperature will be, not the underlying science that leads to those things happening.It's easy to conflate single data points to stock market moves because when we get data, the market moves, but those moves don't actually speak to long-term performance.When you consider investing in a company or selling a stock you own, look at as many data points as you can, and don't make blanket assumptions that higher interest rates or a weaker economy are bad (or good) for that company.Remember that charts, numbers, expert opinions, and everything else are tools to help you understand the bigger picture. No one of them is the last word.","news_type":1},"isVote":1,"tweetType":1,"viewCount":154,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9908733883,"gmtCreate":1659434335944,"gmtModify":1705980321743,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"just hold for now","listText":"just hold for now","text":"just hold for now","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9908733883","repostId":"1188690484","repostType":4,"repost":{"id":"1188690484","pubTimestamp":1659454673,"share":"https://www.laohu8.com/m/news/1188690484?lang=&edition=full","pubTime":"2022-08-02 23:37","market":"us","language":"en","title":"Alibaba: Be Greedy When Others Are Fearful","url":"https://stock-news.laohu8.com/highlight/detail?id=1188690484","media":"Seeking Alpha","summary":"SummaryAlibaba has grown at a 5-year CAGR of more than 42%, but the company's stock is trading at a ","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Alibaba has grown at a 5-year CAGR of more than 42%, but the company&#39;s stock is trading at a PE of about x17.</li><li>The stock is down about 70% from ATH and now trades at very attractive risk/reward levels.</li><li>Personally, I see more than 50% upside for BABA stock, as I calculate the company&#39;s fair value with a residual earnings model.</li></ul><p><b>Thesis</b></p><p>I am very bullish on Alibaba (NYSE:BABA) stock. I strongly believe that the market has priced in too much negativity and pessimism as compared to reality and investors are well advised to follow one of Buffett&#39;s key maxims:</p><blockquote>Be greedy when others are fearful.</blockquote><p>Alibaba has grown at a 5-year CAGR of more than 42%, but the company&#39;s stock is trading at a PE of about x17. This indicates a clear undervaluation.</p><p>Of course, I understand that investors are worried about a potential ADR delisting, slowing economy and crackdown on internet/tech companies. However, just like a bull market tops on the most bullish conditions, a bear market bottoms on the most bearish conditions. While investors should study and understand the risks, I personally believe that Alibaba stock will rebound strongly from current price levels of below $100/share.</p><p>Personally, I see more than 50% upside for BABA stock, as I calculate the company&#39;s fair value with a residual earnings model anchored on fundamentals and analyst consensus estimates. My target price is $133.92.</p><p><b>A Best-In-Class Company</b></p><p>Alibaba is one of the biggest e-commerce companies in the world. The company operates three main shopping sites Taobao, Tmall and Alibaba.com, which cumulatively serve some 828 million monthly active buyers (fiscal year ending March 31, 2021).</p><p>Alibaba also has stakes in multiple innovative internet/technology businesses such as Youku (video entertainment), Pony.Ai (Autonomous Driving) and most notably Ant Group (The world&#39;s biggest financial service company). Alipay serves almost the entire population in China. The platform has 1.3 billion users and 80 million merchants. Notably, the total payment volume of Alipay was more than $19 trillion in 2021.</p><p>Moreover, Alibaba is a dominant force in China&#39;s cloud market with about37% market share. China&#39;s cloud market is expected to grow at a 4-year CAGR of more than 25%, reaching $85 billion in 2026. As the market leader in China, Alibaba is poised to benefit from this super-charged cloud-growth. Cloud is also a business vertical where the company should enjoy government tailwind, as the Chinese Communist Party is actively supporting digitalization efforts of the economy and has made cloud development a key-priority in the party&#39;s5-year development plan.</p><p><b>Bullish Financials</b></p><p>In the past financial year, the Alibaba Group generated total revenues of about $134.5 billion and recorded an operating income of about $15 billion. Most notably in the past five years, from March 2017 to March 2022, Alibaba has grown at an unbelievable 5-year CAGR of 42%. For reference, this is almost double the growth rate of Amazon, which grew at a 5-year CAGR of 22% CAGR over the same period. Alibaba closed the fiscal year 2021 with 9.8 billion of net-income available to common shareholders.</p><p>Alibaba&#39;sbalance sheet is very strong: As of March 2022, the company recorded $71.7 billion of cash and cash equivalents and only $27.85 of total financial debt. This makes Alibaba a net-creditor of about $43 billion -- which is 17% of the company&#39;s market capitalization. Moreover, Alibaba&#39;s business operations, despite the strong growth, are cash-accretive. In fiscal 2021, the company generated cash from operations of $22.5 billion. Under these circumstances it should come to no surprise that the company announced a $25 billion share-buyback program, more than 10% of the outstanding shares) in March 2022.</p><p>Alibaba will announce earnings for the quarter from April to end of June on August 4th before the market open. Analyst consensus expects total revenues of $30.21 billion and EPS of $1.56.</p><p><b>The Buying Opportunity</b></p><p>Despite the strong business fundamentals, Alibaba stock suffered a spectacular sell-off. BABA shares are down about 70% from ATH as the company was pressured by multiple headwinds: ADR delisting fears, as slowing economy , Covid-19 lockdowns and an aggressive regulatory crackdown that started with the cancellation of the Ant Group IPO in November 2020.</p><p><img src=\"https://static.tigerbbs.com/c01e6eab7204bcc90b5af9aa0d87ac85\" tg-width=\"640\" tg-height=\"232\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha</p><p>Alibaba is a quality company, and the stock&#39;s undervaluation is no secret to investors. The key-question is: is the worst behind, and can investors safely invest in Alibaba stock?</p><p>I strongly believe that a safe investment does not exist. In my opinion, every investment opportunity must be judged as a function of its price. And the lower the price, the less risky an investment becomes. Thus, investing is a question of risk/reward. Given Alibaba&#39;s extremely depressed valuation - now the company&#39;s stock is trading at a PE of about x17- I argue an investment is justified.</p><p>Moreover, there are signs that all of Alibaba&#39;s headwinds are easing and the negativity surrounding the stock has peaked. China has on multiple occasions tried to communicate to investors that the internet/technology crackdown is coming to an end and is actively supporting the healthy expansion of digital platform economies.</p><p>In addition, China has vowed to push more fiscal economic support- with a special focus on digitalization. While western economies are hawkish on fiscal and monetary stimulus - ending a decade long easing cycle, China is one of the few economies that appears to start a new stimulus cycle.</p><p>Analysts agree with the bullish thesis. In general, analysts are very bullish on Alibaba stock. Based on ratings of 44 analysts, 33 analysts give a Strong Buy rating, 8 are Buy rated and 3 assign a Hold recommendation. There is no Sell or Strong Sell rating. The average price target is $155.47/share, indicating more than 70% upside.</p><p><img src=\"https://static.tigerbbs.com/8fa3c940aeeed4780c87b1ca71bdb180\" tg-width=\"640\" tg-height=\"228\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha</p><p><b>Residual Earnings Valuation</b></p><p>Let us now look at the valuation. What could be a fair per-share value for Alibaba stock? To answer the question, I have constructed a Residual Earnings framework and anchor on the following assumptions:</p><ul><li>To forecast EPS, I anchor on consensus analyst forecast as available on the Bloomberg Terminal &#39;till 2025. In my opinion, any estimate beyond 2025 is too speculative to include in a valuation framework. But for 2-3 years, analyst consensus is usually quite precise.</li><li>To estimate the cost of capital, I use the WACC framework. I model a three-year regression against the Hang Seng to find the stock&#39;s beta. For the risk-free rate, I used the U.S. 10-year treasury yield as of July 22nd, 2022. My calculation indicates a fair WACC of about 9.8%. I adjust upward to 12% in order to reflect the company&#39;s idiosyncratic market risk.</li><li>To derive Baidu&#39;s tax rate, I extrapolate the 3-year average effective tax-rate from 2019, 2020 and 2021.</li><li>For the terminal growth rate, I apply expected nominal GDP growth plus one percentage point to reflect a favorable growth outlook for Alibaba&#39;s high-potential initiatives</li><li>I do not model any share buyback further supporting a conservative valuation.</li></ul><p>Based on the above assumptions, my calculation returns a base-case target price for Alibaba of $133.92/share, implying material upside of more than 50%.</p><p><img src=\"https://static.tigerbbs.com/b7cb860aca7fa48ef2afe7e265d3effa\" tg-width=\"640\" tg-height=\"229\" referrerpolicy=\"no-referrer\"/></p><p>Analyst Consensus EPS; Author&#39;s Calculation</p><p>I understand that investors might have different assumptions with regards to Alibaba&#39;s required return and terminal business growth. Thus, I also enclose a sensitivity table to test varying assumptions. For reference, red-cells imply an overvaluation as compared to the current market price, and green-cells imply an undervaluation. Notably, all tested combinations imply an undervaluation!</p><p><img src=\"https://static.tigerbbs.com/62ba3323a1f09e75477921298d84cbf8\" tg-width=\"640\" tg-height=\"154\" referrerpolicy=\"no-referrer\"/></p><p>Analyst Consensus EPS; Author&#39;s Calculation</p><p><b>Investment Risks</b></p><p>Investors should be aware of the following downside risks that might cause Alibaba stock to materially deviate from my base-case target price of $133.92/share:</p><p>First, the economy is currently pressured by multiple headwinds including inflation, real-estate crisis and COVID-19 lockdowns. If the economy would slow more than what is expected and priced in, investors should adjust expectations for Alibaba&#39;s short/mid-term business monetization accordingly.</p><p>Secondly, China&#39;s internet/tech companies are strongly exposed to regulatory risk. While the worst seems to be behind us, the elevated risk exposure persists -- and will arguably never completely fade.</p><p>Third, much of BABA&#39;s share price volatility is currently driven by investor sentiment towards Chinese ADRs and risk assets. Thus, BABA stock price might show strong price volatility even though the company&#39;s business fundamentals remain unchanged.</p><p><b>Conclusion</b></p><p>Alibaba stock is down 70% from ATH, but the company remains a global powerhouse with enormous long-term potential. Trading at a PE of below x17, despite growing like a start-up, I argue Alibaba&#39;s sell-off could offer long-term focused investors, that can stomach short term share-price volatility, a generational buying opportunity.</p><p>Personally, I see more than 50% upside for BABA stock, despite cautious and conservative valuation assumptions. Strong Buy.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: Be Greedy When Others Are Fearful</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba: Be Greedy When Others Are Fearful\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-02 23:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4528176-alibaba-be-greedy-when-others-fearful><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAlibaba has grown at a 5-year CAGR of more than 42%, but the company's stock is trading at a PE of about x17.The stock is down about 70% from ATH and now trades at very attractive risk/reward ...</p>\n\n<a href=\"https://seekingalpha.com/article/4528176-alibaba-be-greedy-when-others-fearful\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-SW","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4528176-alibaba-be-greedy-when-others-fearful","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188690484","content_text":"SummaryAlibaba has grown at a 5-year CAGR of more than 42%, but the company's stock is trading at a PE of about x17.The stock is down about 70% from ATH and now trades at very attractive risk/reward levels.Personally, I see more than 50% upside for BABA stock, as I calculate the company's fair value with a residual earnings model.ThesisI am very bullish on Alibaba (NYSE:BABA) stock. I strongly believe that the market has priced in too much negativity and pessimism as compared to reality and investors are well advised to follow one of Buffett's key maxims:Be greedy when others are fearful.Alibaba has grown at a 5-year CAGR of more than 42%, but the company's stock is trading at a PE of about x17. This indicates a clear undervaluation.Of course, I understand that investors are worried about a potential ADR delisting, slowing economy and crackdown on internet/tech companies. However, just like a bull market tops on the most bullish conditions, a bear market bottoms on the most bearish conditions. While investors should study and understand the risks, I personally believe that Alibaba stock will rebound strongly from current price levels of below $100/share.Personally, I see more than 50% upside for BABA stock, as I calculate the company's fair value with a residual earnings model anchored on fundamentals and analyst consensus estimates. My target price is $133.92.A Best-In-Class CompanyAlibaba is one of the biggest e-commerce companies in the world. The company operates three main shopping sites Taobao, Tmall and Alibaba.com, which cumulatively serve some 828 million monthly active buyers (fiscal year ending March 31, 2021).Alibaba also has stakes in multiple innovative internet/technology businesses such as Youku (video entertainment), Pony.Ai (Autonomous Driving) and most notably Ant Group (The world's biggest financial service company). Alipay serves almost the entire population in China. The platform has 1.3 billion users and 80 million merchants. Notably, the total payment volume of Alipay was more than $19 trillion in 2021.Moreover, Alibaba is a dominant force in China's cloud market with about37% market share. China's cloud market is expected to grow at a 4-year CAGR of more than 25%, reaching $85 billion in 2026. As the market leader in China, Alibaba is poised to benefit from this super-charged cloud-growth. Cloud is also a business vertical where the company should enjoy government tailwind, as the Chinese Communist Party is actively supporting digitalization efforts of the economy and has made cloud development a key-priority in the party's5-year development plan.Bullish FinancialsIn the past financial year, the Alibaba Group generated total revenues of about $134.5 billion and recorded an operating income of about $15 billion. Most notably in the past five years, from March 2017 to March 2022, Alibaba has grown at an unbelievable 5-year CAGR of 42%. For reference, this is almost double the growth rate of Amazon, which grew at a 5-year CAGR of 22% CAGR over the same period. Alibaba closed the fiscal year 2021 with 9.8 billion of net-income available to common shareholders.Alibaba'sbalance sheet is very strong: As of March 2022, the company recorded $71.7 billion of cash and cash equivalents and only $27.85 of total financial debt. This makes Alibaba a net-creditor of about $43 billion -- which is 17% of the company's market capitalization. Moreover, Alibaba's business operations, despite the strong growth, are cash-accretive. In fiscal 2021, the company generated cash from operations of $22.5 billion. Under these circumstances it should come to no surprise that the company announced a $25 billion share-buyback program, more than 10% of the outstanding shares) in March 2022.Alibaba will announce earnings for the quarter from April to end of June on August 4th before the market open. Analyst consensus expects total revenues of $30.21 billion and EPS of $1.56.The Buying OpportunityDespite the strong business fundamentals, Alibaba stock suffered a spectacular sell-off. BABA shares are down about 70% from ATH as the company was pressured by multiple headwinds: ADR delisting fears, as slowing economy , Covid-19 lockdowns and an aggressive regulatory crackdown that started with the cancellation of the Ant Group IPO in November 2020.Seeking AlphaAlibaba is a quality company, and the stock's undervaluation is no secret to investors. The key-question is: is the worst behind, and can investors safely invest in Alibaba stock?I strongly believe that a safe investment does not exist. In my opinion, every investment opportunity must be judged as a function of its price. And the lower the price, the less risky an investment becomes. Thus, investing is a question of risk/reward. Given Alibaba's extremely depressed valuation - now the company's stock is trading at a PE of about x17- I argue an investment is justified.Moreover, there are signs that all of Alibaba's headwinds are easing and the negativity surrounding the stock has peaked. China has on multiple occasions tried to communicate to investors that the internet/technology crackdown is coming to an end and is actively supporting the healthy expansion of digital platform economies.In addition, China has vowed to push more fiscal economic support- with a special focus on digitalization. While western economies are hawkish on fiscal and monetary stimulus - ending a decade long easing cycle, China is one of the few economies that appears to start a new stimulus cycle.Analysts agree with the bullish thesis. In general, analysts are very bullish on Alibaba stock. Based on ratings of 44 analysts, 33 analysts give a Strong Buy rating, 8 are Buy rated and 3 assign a Hold recommendation. There is no Sell or Strong Sell rating. The average price target is $155.47/share, indicating more than 70% upside.Seeking AlphaResidual Earnings ValuationLet us now look at the valuation. What could be a fair per-share value for Alibaba stock? To answer the question, I have constructed a Residual Earnings framework and anchor on the following assumptions:To forecast EPS, I anchor on consensus analyst forecast as available on the Bloomberg Terminal 'till 2025. In my opinion, any estimate beyond 2025 is too speculative to include in a valuation framework. But for 2-3 years, analyst consensus is usually quite precise.To estimate the cost of capital, I use the WACC framework. I model a three-year regression against the Hang Seng to find the stock's beta. For the risk-free rate, I used the U.S. 10-year treasury yield as of July 22nd, 2022. My calculation indicates a fair WACC of about 9.8%. I adjust upward to 12% in order to reflect the company's idiosyncratic market risk.To derive Baidu's tax rate, I extrapolate the 3-year average effective tax-rate from 2019, 2020 and 2021.For the terminal growth rate, I apply expected nominal GDP growth plus one percentage point to reflect a favorable growth outlook for Alibaba's high-potential initiativesI do not model any share buyback further supporting a conservative valuation.Based on the above assumptions, my calculation returns a base-case target price for Alibaba of $133.92/share, implying material upside of more than 50%.Analyst Consensus EPS; Author's CalculationI understand that investors might have different assumptions with regards to Alibaba's required return and terminal business growth. Thus, I also enclose a sensitivity table to test varying assumptions. For reference, red-cells imply an overvaluation as compared to the current market price, and green-cells imply an undervaluation. Notably, all tested combinations imply an undervaluation!Analyst Consensus EPS; Author's CalculationInvestment RisksInvestors should be aware of the following downside risks that might cause Alibaba stock to materially deviate from my base-case target price of $133.92/share:First, the economy is currently pressured by multiple headwinds including inflation, real-estate crisis and COVID-19 lockdowns. If the economy would slow more than what is expected and priced in, investors should adjust expectations for Alibaba's short/mid-term business monetization accordingly.Secondly, China's internet/tech companies are strongly exposed to regulatory risk. While the worst seems to be behind us, the elevated risk exposure persists -- and will arguably never completely fade.Third, much of BABA's share price volatility is currently driven by investor sentiment towards Chinese ADRs and risk assets. Thus, BABA stock price might show strong price volatility even though the company's business fundamentals remain unchanged.ConclusionAlibaba stock is down 70% from ATH, but the company remains a global powerhouse with enormous long-term potential. Trading at a PE of below x17, despite growing like a start-up, I argue Alibaba's sell-off could offer long-term focused investors, that can stomach short term share-price volatility, a generational buying opportunity.Personally, I see more than 50% upside for BABA stock, despite cautious and conservative valuation assumptions. Strong Buy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":261,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9056288069,"gmtCreate":1655019779151,"gmtModify":1676535549577,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"time to accumulate!","listText":"time to accumulate!","text":"time to accumulate!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9056288069","repostId":"2242581596","repostType":4,"repost":{"id":"2242581596","pubTimestamp":1654999609,"share":"https://www.laohu8.com/m/news/2242581596?lang=&edition=full","pubTime":"2022-06-12 10:06","market":"us","language":"en","title":"Is Amazon a Buy After Its Stock Split?","url":"https://stock-news.laohu8.com/highlight/detail?id=2242581596","media":"Seekingalpha","summary":"Amazon (NASDAQ:AMZN) conducted a stock split earlier this month to make its shares more attractive t","content":"<html><head></head><body><p>Amazon (NASDAQ:AMZN) conducted a stock split earlier this month to make its shares more attractive to retail investors. Despite a short-term pop as the split went into effect, the e-commerce giant has drifted back down towards its 52-week low in recent days. </p><p>Worries about inflation and the health of the economy have weighed on AMZN, as well as ongoing tension over unionization. Given this environment, has the stock fallen far enough to become a buy?</p><h2><b>After the Split</b></h2><p>On June 6, Amazon (AMZN) put a 20-for-1 stock split into effect. The process effectively cut the firm&#39;s share price to 1/20th of its previous level -- making AMZN affordable to a new cohort of shareholders.</p><p>The move to make the stock accessible to more retail investors initially had the desired effect. The stock rose 2% on June 6, its seventh gain in the previous eight sessions. Shares also recorded their highest finish in more than a month.</p><p>These gains were short-lived, however. Deteriorating market sentiment has put pressure on AMZN, amid rising fears about inflation and the prospect that increasing interest rates will eventually trigger a recession.</p><p>In intraday trading on Friday, shares have fallen more than 5%. This marked the fourth consecutive day of declines, including a 4% slide during the previous session. All told, shares have dropped nearly 12% since the day after the stock split.</p><p>AMZN now trades at about $110 per share, still off a 52-week low of $101.26 reached last month. This remains a far cry from the 52-week high of $188.65 reached last summer, as the company benefited from pandemic-induced demand for online shopping.</p><p>Shares have now fallen about 42% from that peak.</p><h2><b>Is AMZN a Buy?</b></h2><p>Even with the declines in 2022, the sentiment on Wall Street remains overwhelmingly positive towards Amazon (AMZN). Of the 52 analysts surveyed by Seeking Alpha, only three have less than a Buy rating on the stock.</p><p>All told, 36 analysts have a Strong Buy opinion, while another 13 have issued a Buy recommendation -- meaning 94% of market experts have a bullish view of the stock. There is also <a href=\"https://laohu8.com/S/AONE.U\">one</a> Hold rating, one Sell opinion and one Strong Sell recommendation.</p><p>Quantitative measures have a more cautious view of the stock. Overall, Seeking Alpha&#39;s Quant Ratings view AMZN as a Hold.</p><p>The online retailer gets high marks for profitability and growth, with an A+ and B+ in those categories, respectively. However, the Quant Ratings give the stock a C for momentum and an F for valuation.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Amazon a Buy After Its Stock Split?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Amazon a Buy After Its Stock Split?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-12 10:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3847778-is-amazon-a-buy-after-its-stock-split><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Amazon (NASDAQ:AMZN) conducted a stock split earlier this month to make its shares more attractive to retail investors. Despite a short-term pop as the split went into effect, the e-commerce giant has...</p>\n\n<a href=\"https://seekingalpha.com/news/3847778-is-amazon-a-buy-after-its-stock-split\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/news/3847778-is-amazon-a-buy-after-its-stock-split","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2242581596","content_text":"Amazon (NASDAQ:AMZN) conducted a stock split earlier this month to make its shares more attractive to retail investors. Despite a short-term pop as the split went into effect, the e-commerce giant has drifted back down towards its 52-week low in recent days. Worries about inflation and the health of the economy have weighed on AMZN, as well as ongoing tension over unionization. Given this environment, has the stock fallen far enough to become a buy?After the SplitOn June 6, Amazon (AMZN) put a 20-for-1 stock split into effect. The process effectively cut the firm's share price to 1/20th of its previous level -- making AMZN affordable to a new cohort of shareholders.The move to make the stock accessible to more retail investors initially had the desired effect. The stock rose 2% on June 6, its seventh gain in the previous eight sessions. Shares also recorded their highest finish in more than a month.These gains were short-lived, however. Deteriorating market sentiment has put pressure on AMZN, amid rising fears about inflation and the prospect that increasing interest rates will eventually trigger a recession.In intraday trading on Friday, shares have fallen more than 5%. This marked the fourth consecutive day of declines, including a 4% slide during the previous session. All told, shares have dropped nearly 12% since the day after the stock split.AMZN now trades at about $110 per share, still off a 52-week low of $101.26 reached last month. This remains a far cry from the 52-week high of $188.65 reached last summer, as the company benefited from pandemic-induced demand for online shopping.Shares have now fallen about 42% from that peak.Is AMZN a Buy?Even with the declines in 2022, the sentiment on Wall Street remains overwhelmingly positive towards Amazon (AMZN). Of the 52 analysts surveyed by Seeking Alpha, only three have less than a Buy rating on the stock.All told, 36 analysts have a Strong Buy opinion, while another 13 have issued a Buy recommendation -- meaning 94% of market experts have a bullish view of the stock. There is also one Hold rating, one Sell opinion and one Strong Sell recommendation.Quantitative measures have a more cautious view of the stock. Overall, Seeking Alpha's Quant Ratings view AMZN as a Hold.The online retailer gets high marks for profitability and growth, with an A+ and B+ in those categories, respectively. However, the Quant Ratings give the stock a C for momentum and an F for valuation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035670976,"gmtCreate":1647594444558,"gmtModify":1676534248735,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like for good luck! 🍀","listText":"give a like for good luck! 🍀","text":"give a like for good luck! 🍀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035670976","repostId":"1130532398","repostType":4,"repost":{"id":"1130532398","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1647590694,"share":"https://www.laohu8.com/m/news/1130532398?lang=&edition=full","pubTime":"2022-03-18 16:04","market":"us","language":"en","title":"Over 90% of UP Fintech’s Q4 Newly Funded Accounts Came from Outside China, Achieving 119% of the Annual Target","url":"https://stock-news.laohu8.com/highlight/detail?id=1130532398","media":"Tiger Newspress","summary":"UP Fintech Holding Limited (the “Company”, a NASDAQ-listed company under the ticker “TIGR”, and all ","content":"<html><head></head><body><p>UP Fintech Holding Limited (the “Company”, a NASDAQ-listed company under the ticker “TIGR”, and all of its subsidiaries and consolidated entities), a leading online brokerage firm focusing on global investors, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2021. Total revenue in the fourth quarter was US$62.2 million, and total revenue for the year 2021 reached US$264.5 million, a year-over-year increase of 91%. Non-GAAP net income was US$24.5 million.</p><p>At the end of 2021, customer accounts totaled 1.8 million, and the number of customers with deposits increased to 673,400. Furthermore, the company added 414,700 new funded accounts in 2021, more than all of its past annual funded account growth combined. In total, the company achieved 119% of its annual funded account growth target in 2021. During the fourth quarter, the company’s trading volume increased to US$85.9 billion, with total client assets reaching US$17.1 billion. The company’s annual trading volume totaled US$404.3 billion, 1.8 times that of the previous year.</p><p>Mr. Wu Tianhua, CEO and founder of UP Fintech commented, “In 2021, despite fluctuations in global financial markets and significant uncertainties, our focus on our internationalization strategy drove steady growth. In thefourth quarter, over 90% of new funded accounts came from international markets, with a large portion of the new funded accounts coming from Singapore. UP Fintech maintains leading market share in Singapore and the company&#39;s Singapore headquarters contributed to making the market as one of key growth drivers, both in the number of total accounts and newly acquired accounts. The fourth quarter was the third consecutive quarter of more than 100% year-over-year growth in funded accounts in Singapore. The total number of registered accounts in Singapore now represents 15% of Singapore&#39;s population aged 20 and above. In the year since we began to ramp up our self-clearing capabilities, we have made substantial progress and now self-clear over 80% of customers’ U.S. cash equities trades. Our firm’s capability to deploy proprietary technologies on our fintech platform demonstrates the contributions that Chinese innovation is making to the global brokerage industry. Our B2B businesses reached new milestones this year: as of December 31st, 2021, 90% of new issuers with market capitalization in excess ofHK$100 billion in Hong Kong and 100% of new U.S. ADR issuers with market capitalization over US$1 billion cooperated with UP Fintech’s investment bank or chose to use the company’s ESOP service. Overall, our company’s comprehensive enterprise services are gaining increasing recognition within the industry. In coming years, the company looks forward to entering new international markets and enabling a greater range of investors to allocate their assets globally on our innovative fintech platform.”</p><p><b>Over 90% of Newly Funded Accounts Came from Outside China as the Company Executes on its Global Expansion Strategy</b></p><p>Driven by strong growth in international markets,UP Fintechfurther expanded its client base. The company added 61,400 new funded accounts during the fourth quarter of which over 90% came from outside China. Furthermore, in 2021, the company added a total of 414,700 new funded accounts, achieving 119% of its annual target. In the fourth quarter, the company&#39;s trading volume was US$85.9 billion, client assets reached US$17.1 billion, commission income was up to US$29.9 million, and interest-related income increased to US$22.5 million.</p><p>At a time of global macroeconomic uncertainty, UP Fintechcontinues focus on its long-term expansion plans with a focus on improving the customer experience. To increase customer choice on its platform, the company recently added new functions such as bracket orders and a new display for analyzing diluted cost positions. The company also recently added an option screener and option list to better meet the needs of investors who trade options. In Australia,UP Fintechbegan to meet the needs of local investors by adding multi-dimensional analysis tools and real-time level 2 market data. Investors on the firm’s platform may view a rich range of financial metrics such as capital flow analysis and lists of corporate actions.</p><p>In addition,the company&#39;s wealth management business continued to attract more clients as the number of available investment products continued to rise. At the end of the fourth quarter, the company’s Fund Mall enabled another 661 funds for investors to choose from. As the selection of funds has increased, the number of customers investing in the Fund Mall increased by 377.5% year-over-year, and the AUM of the Fund Mall increased by 290.1% year-over-year. ForCash Plus, the company’s idle cash management product,the number of customers and their cumulative transfer value during the fourth quarter was nearly double that of the same period last year. The company also added HKD and SGD currencies to the Fund Mall to further meet customers global asset allocation needs.</p><p>The company offered 26 IPO subscriptions in Hong Kong and The U.S. during the fourth quarter, including several high-profile listings such as those of NetEase Cloud Music and Sense Time. For the full year 2021, the company in total offered 123 IPO subscriptions.The company is becoming one of the top platforms for retail investors to participate in new listings in Hong Kong; retail orders for larger listings such as those of Kuaishou and JD Logistics exceeded HK$10 billion. The company also assisted issuers in connecting with its investor base and highlighting their business performance by helping them hold online roadshows and broadcasting their earnings conference calls. During the year, the company held more than 60% of courses about high-quality Asian assets to investors.</p><p>The company continued to invest in key brokerage technologies to enhance its capability to manage securities trading from the front end to execution and clearing. Self-clearing has long been the purview of traditional banks, but the company continues to ramp up its capability to conduct self-clearing and by the end of the fourth quarter, over 80% of clients were having their U.S. cash equities trades self-cleared. As a result of the company’s investment in clearing technology, clearing costsdeclined quarter over quarter by 27.8%.</p><p>As part of its international expansion, the company continued to obtain new licenses and qualifications in multiple international jurisdictions. The firm now holds 50 licenses and qualifications across 37 categories in Hong Kong, Singapore, The U.S., New Zealand, and Australia. The company looks forward to using these licenses to further support its international expansion.</p><p>UP Fintechis also receiving growing recognition in international capital markets and in 2021 was selected for inclusion in the MSCI China All Shares Index and the MSCI China Small Cap Index.</p><p><b>The fourth quarter was the third consecutive quarter of more than 100% YoY growth in funded accounts in Singapore. The total number of registered accounts in Singapore now represents 15% of Singapore&#39;s population aged 20+</b></p><p>Since entering Singapore in February 2020,UP Fintechhas continued to consolidate its position in the local market. More than half of new funded accounts in the fourth quarter came from Singapore. According to App Annie, as of the end of 2021, as measured by the total number of accounts and downloads,UP Fintech’s flagship mobile trading App, Tiger Trade, led the online brokerage market in Singapore.The fourth quarter wasthe third consecutive quarter of over 100%year-over-yeargrowth in funded accounts in Singapore,and the numberof registered accounts now represents 15% of Singapore&#39;s population aged 20or above. In addition, approximately 30% of the new funded accountsin Singaporein the fourth quarter came from users over the age of 40, which demonstrates the firm’s trading platform appeals to a wide range of investors.</p><p>UP Fintech’s leading position in the Singapore market is due to its relentless focus on localization. In the fourth quarter, to better meet the needs of local clients, the company added a new module to allow easy display of Singapore companies listed in The U.S. market. The company also added new features such as industry classifications and sponsor data to assist customers learn more about local investment opportunities.</p><p>In the fourth quarter, the company offered customers in Singapore the opportunity to subscribe shares from two local issuers. The company also enabled institutional clients in Singapore the ability to participate in the global offerings of new issuers in Hong Kong, further increasing the ability of local investors to participate in China’s capital markets.</p><p>The AUM ofUP Fintech’swealth management business in Singapore increased by 186.5% while the number of customers increased by 223.9% quarter-over-quarter respectively. To increase the value proposition of Cash Plus in international markets, the company introduced lower thresholds for customers to invest their capital in Cash Plus. Local customers may now invest in Cash Plus with just 1 USD, 1 SGD, or 5 HKD and may transfer their funds in and out at any time. During the year, the company joined the Securities Association of Singapore and was honored that its subsidiary, Tiger Brokers (Singapore) Pte. Ltd., was officially admitted as a trading member of Singapore Exchange Securities Trading Limited and Singapore Exchange Derivatives Trading Limited, and clearing member and depository agent of The Central Depository (Pte) Limited. The company is the first fintech enabled brokerage in the world to obtain such qualifications in Singapore. In November 2021, UP Fintech’s Singapore subsidiary was Named as &#34;Asia&#39;s Most Innovative Company&#34; by Fortune Times, a Singapore based business magazine, demonstrating the company’s innovative platform is gaining increasing recognition from local media.</p><p><b>The Cumulative Number of ESOP Clients at the End of 2021 was 2.5X Higher than the Year Before and Annual Enterprise Services Revenue Increased by 67%</b></p><p>Corporate services such as investment banking and ESOP have become a new driver of the company’s long-term growth. According to the company’s Q4 financial results, other revenues, which includes revenue from investment banking and ESOP, reached US$9.8 million in Q4, and annual revenue from this segment reached US$37.7 million, an increase of 67% from the prior year.</p><p>As of December 31st, 2021, 90% of new issuers with market capitalization in excess of HK$100 billion in Hong Kong and 100% of new U.S. ADR issuers with market capitalization over US$1 billion cooperated with UP Fintech’s investment bank or chose to use the company’s ESOP service.</p><p></p><p>During the fourth quarter, the company leveraged the strength of its innovative platform and comprehensive range of services to participate in the underwriting and distribution of 22 listings in The U.S. and Hong Kong. In Hong Kong, the company acted as an underwriter in the global offerings of NetEase Cloud Music, Sense Time, and Airdoc. For the listing of NetEase Cloud Music, the company was the sole online broker to participate in the global offering. In The U.S., the company leveraged its rich investment banking experience, licenses, and technical capabilities to serve as an underwriter for 15 U.S. IPOs. The 2021 IPO of Kuke Music was another notable milestone for the company; the company was the first online broker to serve as the lead underwriter in a U.S. IPO.</p><p>In the fourth quarter, the company’s investment bank continued to provide a rich range of services to next generation technology companies at multiple stages of their growth, from pre-IPO financial advisory to post listing capital markets services. In 2021, the company provided financial advisory services to over 30 companies. Finally, the company also assisted Canadian Solar conduct an ATM (At The Market) offering to raise additional capital to support the expansion of its green energy business.</p><p>With regards to the company’s ESOP business,UP Fintechadded 51 new clients during the quarter. Despite launching the business just over three years ago, the total number of clients served by the company’s ESOP system reached 313, an increase of 152.4% year-over-year. The company’s ESOP system has extensive capabilities that allow it serve clients listed in Hong Kong, The U.S., and China; the company’s ESOP system also serves a diverse range of pre-IPO clients.</p><p>As a global ESOP provider, the company offers comprehensive services for corporate ESOP management across multiple capital markets. In the fourth quarter, Tiger ESOP provided the pharmaceutical R&amp;D company, Pharmaron, with equity incentive management solutions for both A+H share capital markets. At the same time,UP Fintechalso provided ESOP-related tax, foreign exchange, and other specialized services for Pharmaron’&#39;s multinational employee base that includes British, American, and Chinese nationals. UP Fintech’s capability to provide ESOP and other ancillary services across multiple capital markets and nationalities is a testament to the sophistication of its ESOP system and ability to meet clients’ complex needs.</p><p>On the company’s vibrant social media community, The Tiger Community, 35 new corporations opened enterprise accounts in the fourth quarter, including seven internationally renowned fund companies, such as Fidelity International and Lion Global Investors. As more and more corporations open enterprise accounts in the Tiger Community, the company’s 9+ million user base is able to increase its interaction and understanding of the vast range of issuers and fund companies present in the community.</p><p>UP Fintech’s online community continues to build its position as a preferred investor relations &amp; PR platform for next generation technology companies. The company recently assisted Xiaomi hold an online product launch, helped organize an online conference for Kuaishou, and held a listing anniversary for Dada Nexus. Corporates are drawn to enterprise accounts as they may employ innovative marketing materials, such as interactive graphics and livestreams, to directly connect with investors and customers.Many enterprise accounts have already received over one million views and the company looks forward to inviting more investors and corporates to participate in its online community.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Over 90% of UP Fintech’s Q4 Newly Funded Accounts Came from Outside China, Achieving 119% of the Annual Target</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOver 90% of UP Fintech’s Q4 Newly Funded Accounts Came from Outside China, Achieving 119% of the Annual Target\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-03-18 16:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>UP Fintech Holding Limited (the “Company”, a NASDAQ-listed company under the ticker “TIGR”, and all of its subsidiaries and consolidated entities), a leading online brokerage firm focusing on global investors, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2021. Total revenue in the fourth quarter was US$62.2 million, and total revenue for the year 2021 reached US$264.5 million, a year-over-year increase of 91%. Non-GAAP net income was US$24.5 million.</p><p>At the end of 2021, customer accounts totaled 1.8 million, and the number of customers with deposits increased to 673,400. Furthermore, the company added 414,700 new funded accounts in 2021, more than all of its past annual funded account growth combined. In total, the company achieved 119% of its annual funded account growth target in 2021. During the fourth quarter, the company’s trading volume increased to US$85.9 billion, with total client assets reaching US$17.1 billion. The company’s annual trading volume totaled US$404.3 billion, 1.8 times that of the previous year.</p><p>Mr. Wu Tianhua, CEO and founder of UP Fintech commented, “In 2021, despite fluctuations in global financial markets and significant uncertainties, our focus on our internationalization strategy drove steady growth. In thefourth quarter, over 90% of new funded accounts came from international markets, with a large portion of the new funded accounts coming from Singapore. UP Fintech maintains leading market share in Singapore and the company&#39;s Singapore headquarters contributed to making the market as one of key growth drivers, both in the number of total accounts and newly acquired accounts. The fourth quarter was the third consecutive quarter of more than 100% year-over-year growth in funded accounts in Singapore. The total number of registered accounts in Singapore now represents 15% of Singapore&#39;s population aged 20 and above. In the year since we began to ramp up our self-clearing capabilities, we have made substantial progress and now self-clear over 80% of customers’ U.S. cash equities trades. Our firm’s capability to deploy proprietary technologies on our fintech platform demonstrates the contributions that Chinese innovation is making to the global brokerage industry. Our B2B businesses reached new milestones this year: as of December 31st, 2021, 90% of new issuers with market capitalization in excess ofHK$100 billion in Hong Kong and 100% of new U.S. ADR issuers with market capitalization over US$1 billion cooperated with UP Fintech’s investment bank or chose to use the company’s ESOP service. Overall, our company’s comprehensive enterprise services are gaining increasing recognition within the industry. In coming years, the company looks forward to entering new international markets and enabling a greater range of investors to allocate their assets globally on our innovative fintech platform.”</p><p><b>Over 90% of Newly Funded Accounts Came from Outside China as the Company Executes on its Global Expansion Strategy</b></p><p>Driven by strong growth in international markets,UP Fintechfurther expanded its client base. The company added 61,400 new funded accounts during the fourth quarter of which over 90% came from outside China. Furthermore, in 2021, the company added a total of 414,700 new funded accounts, achieving 119% of its annual target. In the fourth quarter, the company&#39;s trading volume was US$85.9 billion, client assets reached US$17.1 billion, commission income was up to US$29.9 million, and interest-related income increased to US$22.5 million.</p><p>At a time of global macroeconomic uncertainty, UP Fintechcontinues focus on its long-term expansion plans with a focus on improving the customer experience. To increase customer choice on its platform, the company recently added new functions such as bracket orders and a new display for analyzing diluted cost positions. The company also recently added an option screener and option list to better meet the needs of investors who trade options. In Australia,UP Fintechbegan to meet the needs of local investors by adding multi-dimensional analysis tools and real-time level 2 market data. Investors on the firm’s platform may view a rich range of financial metrics such as capital flow analysis and lists of corporate actions.</p><p>In addition,the company&#39;s wealth management business continued to attract more clients as the number of available investment products continued to rise. At the end of the fourth quarter, the company’s Fund Mall enabled another 661 funds for investors to choose from. As the selection of funds has increased, the number of customers investing in the Fund Mall increased by 377.5% year-over-year, and the AUM of the Fund Mall increased by 290.1% year-over-year. ForCash Plus, the company’s idle cash management product,the number of customers and their cumulative transfer value during the fourth quarter was nearly double that of the same period last year. The company also added HKD and SGD currencies to the Fund Mall to further meet customers global asset allocation needs.</p><p>The company offered 26 IPO subscriptions in Hong Kong and The U.S. during the fourth quarter, including several high-profile listings such as those of NetEase Cloud Music and Sense Time. For the full year 2021, the company in total offered 123 IPO subscriptions.The company is becoming one of the top platforms for retail investors to participate in new listings in Hong Kong; retail orders for larger listings such as those of Kuaishou and JD Logistics exceeded HK$10 billion. The company also assisted issuers in connecting with its investor base and highlighting their business performance by helping them hold online roadshows and broadcasting their earnings conference calls. During the year, the company held more than 60% of courses about high-quality Asian assets to investors.</p><p>The company continued to invest in key brokerage technologies to enhance its capability to manage securities trading from the front end to execution and clearing. Self-clearing has long been the purview of traditional banks, but the company continues to ramp up its capability to conduct self-clearing and by the end of the fourth quarter, over 80% of clients were having their U.S. cash equities trades self-cleared. As a result of the company’s investment in clearing technology, clearing costsdeclined quarter over quarter by 27.8%.</p><p>As part of its international expansion, the company continued to obtain new licenses and qualifications in multiple international jurisdictions. The firm now holds 50 licenses and qualifications across 37 categories in Hong Kong, Singapore, The U.S., New Zealand, and Australia. The company looks forward to using these licenses to further support its international expansion.</p><p>UP Fintechis also receiving growing recognition in international capital markets and in 2021 was selected for inclusion in the MSCI China All Shares Index and the MSCI China Small Cap Index.</p><p><b>The fourth quarter was the third consecutive quarter of more than 100% YoY growth in funded accounts in Singapore. The total number of registered accounts in Singapore now represents 15% of Singapore&#39;s population aged 20+</b></p><p>Since entering Singapore in February 2020,UP Fintechhas continued to consolidate its position in the local market. More than half of new funded accounts in the fourth quarter came from Singapore. According to App Annie, as of the end of 2021, as measured by the total number of accounts and downloads,UP Fintech’s flagship mobile trading App, Tiger Trade, led the online brokerage market in Singapore.The fourth quarter wasthe third consecutive quarter of over 100%year-over-yeargrowth in funded accounts in Singapore,and the numberof registered accounts now represents 15% of Singapore&#39;s population aged 20or above. In addition, approximately 30% of the new funded accountsin Singaporein the fourth quarter came from users over the age of 40, which demonstrates the firm’s trading platform appeals to a wide range of investors.</p><p>UP Fintech’s leading position in the Singapore market is due to its relentless focus on localization. In the fourth quarter, to better meet the needs of local clients, the company added a new module to allow easy display of Singapore companies listed in The U.S. market. The company also added new features such as industry classifications and sponsor data to assist customers learn more about local investment opportunities.</p><p>In the fourth quarter, the company offered customers in Singapore the opportunity to subscribe shares from two local issuers. The company also enabled institutional clients in Singapore the ability to participate in the global offerings of new issuers in Hong Kong, further increasing the ability of local investors to participate in China’s capital markets.</p><p>The AUM ofUP Fintech’swealth management business in Singapore increased by 186.5% while the number of customers increased by 223.9% quarter-over-quarter respectively. To increase the value proposition of Cash Plus in international markets, the company introduced lower thresholds for customers to invest their capital in Cash Plus. Local customers may now invest in Cash Plus with just 1 USD, 1 SGD, or 5 HKD and may transfer their funds in and out at any time. During the year, the company joined the Securities Association of Singapore and was honored that its subsidiary, Tiger Brokers (Singapore) Pte. Ltd., was officially admitted as a trading member of Singapore Exchange Securities Trading Limited and Singapore Exchange Derivatives Trading Limited, and clearing member and depository agent of The Central Depository (Pte) Limited. The company is the first fintech enabled brokerage in the world to obtain such qualifications in Singapore. In November 2021, UP Fintech’s Singapore subsidiary was Named as &#34;Asia&#39;s Most Innovative Company&#34; by Fortune Times, a Singapore based business magazine, demonstrating the company’s innovative platform is gaining increasing recognition from local media.</p><p><b>The Cumulative Number of ESOP Clients at the End of 2021 was 2.5X Higher than the Year Before and Annual Enterprise Services Revenue Increased by 67%</b></p><p>Corporate services such as investment banking and ESOP have become a new driver of the company’s long-term growth. According to the company’s Q4 financial results, other revenues, which includes revenue from investment banking and ESOP, reached US$9.8 million in Q4, and annual revenue from this segment reached US$37.7 million, an increase of 67% from the prior year.</p><p>As of December 31st, 2021, 90% of new issuers with market capitalization in excess of HK$100 billion in Hong Kong and 100% of new U.S. ADR issuers with market capitalization over US$1 billion cooperated with UP Fintech’s investment bank or chose to use the company’s ESOP service.</p><p></p><p>During the fourth quarter, the company leveraged the strength of its innovative platform and comprehensive range of services to participate in the underwriting and distribution of 22 listings in The U.S. and Hong Kong. In Hong Kong, the company acted as an underwriter in the global offerings of NetEase Cloud Music, Sense Time, and Airdoc. For the listing of NetEase Cloud Music, the company was the sole online broker to participate in the global offering. In The U.S., the company leveraged its rich investment banking experience, licenses, and technical capabilities to serve as an underwriter for 15 U.S. IPOs. The 2021 IPO of Kuke Music was another notable milestone for the company; the company was the first online broker to serve as the lead underwriter in a U.S. IPO.</p><p>In the fourth quarter, the company’s investment bank continued to provide a rich range of services to next generation technology companies at multiple stages of their growth, from pre-IPO financial advisory to post listing capital markets services. In 2021, the company provided financial advisory services to over 30 companies. Finally, the company also assisted Canadian Solar conduct an ATM (At The Market) offering to raise additional capital to support the expansion of its green energy business.</p><p>With regards to the company’s ESOP business,UP Fintechadded 51 new clients during the quarter. Despite launching the business just over three years ago, the total number of clients served by the company’s ESOP system reached 313, an increase of 152.4% year-over-year. The company’s ESOP system has extensive capabilities that allow it serve clients listed in Hong Kong, The U.S., and China; the company’s ESOP system also serves a diverse range of pre-IPO clients.</p><p>As a global ESOP provider, the company offers comprehensive services for corporate ESOP management across multiple capital markets. In the fourth quarter, Tiger ESOP provided the pharmaceutical R&amp;D company, Pharmaron, with equity incentive management solutions for both A+H share capital markets. At the same time,UP Fintechalso provided ESOP-related tax, foreign exchange, and other specialized services for Pharmaron’&#39;s multinational employee base that includes British, American, and Chinese nationals. UP Fintech’s capability to provide ESOP and other ancillary services across multiple capital markets and nationalities is a testament to the sophistication of its ESOP system and ability to meet clients’ complex needs.</p><p>On the company’s vibrant social media community, The Tiger Community, 35 new corporations opened enterprise accounts in the fourth quarter, including seven internationally renowned fund companies, such as Fidelity International and Lion Global Investors. As more and more corporations open enterprise accounts in the Tiger Community, the company’s 9+ million user base is able to increase its interaction and understanding of the vast range of issuers and fund companies present in the community.</p><p>UP Fintech’s online community continues to build its position as a preferred investor relations &amp; PR platform for next generation technology companies. The company recently assisted Xiaomi hold an online product launch, helped organize an online conference for Kuaishou, and held a listing anniversary for Dada Nexus. Corporates are drawn to enterprise accounts as they may employ innovative marketing materials, such as interactive graphics and livestreams, to directly connect with investors and customers.Many enterprise accounts have already received over one million views and the company looks forward to inviting more investors and corporates to participate in its online community.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TIGR":"老虎证券"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130532398","content_text":"UP Fintech Holding Limited (the “Company”, a NASDAQ-listed company under the ticker “TIGR”, and all of its subsidiaries and consolidated entities), a leading online brokerage firm focusing on global investors, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2021. Total revenue in the fourth quarter was US$62.2 million, and total revenue for the year 2021 reached US$264.5 million, a year-over-year increase of 91%. Non-GAAP net income was US$24.5 million.At the end of 2021, customer accounts totaled 1.8 million, and the number of customers with deposits increased to 673,400. Furthermore, the company added 414,700 new funded accounts in 2021, more than all of its past annual funded account growth combined. In total, the company achieved 119% of its annual funded account growth target in 2021. During the fourth quarter, the company’s trading volume increased to US$85.9 billion, with total client assets reaching US$17.1 billion. The company’s annual trading volume totaled US$404.3 billion, 1.8 times that of the previous year.Mr. Wu Tianhua, CEO and founder of UP Fintech commented, “In 2021, despite fluctuations in global financial markets and significant uncertainties, our focus on our internationalization strategy drove steady growth. In thefourth quarter, over 90% of new funded accounts came from international markets, with a large portion of the new funded accounts coming from Singapore. UP Fintech maintains leading market share in Singapore and the company's Singapore headquarters contributed to making the market as one of key growth drivers, both in the number of total accounts and newly acquired accounts. The fourth quarter was the third consecutive quarter of more than 100% year-over-year growth in funded accounts in Singapore. The total number of registered accounts in Singapore now represents 15% of Singapore's population aged 20 and above. In the year since we began to ramp up our self-clearing capabilities, we have made substantial progress and now self-clear over 80% of customers’ U.S. cash equities trades. Our firm’s capability to deploy proprietary technologies on our fintech platform demonstrates the contributions that Chinese innovation is making to the global brokerage industry. Our B2B businesses reached new milestones this year: as of December 31st, 2021, 90% of new issuers with market capitalization in excess ofHK$100 billion in Hong Kong and 100% of new U.S. ADR issuers with market capitalization over US$1 billion cooperated with UP Fintech’s investment bank or chose to use the company’s ESOP service. Overall, our company’s comprehensive enterprise services are gaining increasing recognition within the industry. In coming years, the company looks forward to entering new international markets and enabling a greater range of investors to allocate their assets globally on our innovative fintech platform.”Over 90% of Newly Funded Accounts Came from Outside China as the Company Executes on its Global Expansion StrategyDriven by strong growth in international markets,UP Fintechfurther expanded its client base. The company added 61,400 new funded accounts during the fourth quarter of which over 90% came from outside China. Furthermore, in 2021, the company added a total of 414,700 new funded accounts, achieving 119% of its annual target. In the fourth quarter, the company's trading volume was US$85.9 billion, client assets reached US$17.1 billion, commission income was up to US$29.9 million, and interest-related income increased to US$22.5 million.At a time of global macroeconomic uncertainty, UP Fintechcontinues focus on its long-term expansion plans with a focus on improving the customer experience. To increase customer choice on its platform, the company recently added new functions such as bracket orders and a new display for analyzing diluted cost positions. The company also recently added an option screener and option list to better meet the needs of investors who trade options. In Australia,UP Fintechbegan to meet the needs of local investors by adding multi-dimensional analysis tools and real-time level 2 market data. Investors on the firm’s platform may view a rich range of financial metrics such as capital flow analysis and lists of corporate actions.In addition,the company's wealth management business continued to attract more clients as the number of available investment products continued to rise. At the end of the fourth quarter, the company’s Fund Mall enabled another 661 funds for investors to choose from. As the selection of funds has increased, the number of customers investing in the Fund Mall increased by 377.5% year-over-year, and the AUM of the Fund Mall increased by 290.1% year-over-year. ForCash Plus, the company’s idle cash management product,the number of customers and their cumulative transfer value during the fourth quarter was nearly double that of the same period last year. The company also added HKD and SGD currencies to the Fund Mall to further meet customers global asset allocation needs.The company offered 26 IPO subscriptions in Hong Kong and The U.S. during the fourth quarter, including several high-profile listings such as those of NetEase Cloud Music and Sense Time. For the full year 2021, the company in total offered 123 IPO subscriptions.The company is becoming one of the top platforms for retail investors to participate in new listings in Hong Kong; retail orders for larger listings such as those of Kuaishou and JD Logistics exceeded HK$10 billion. The company also assisted issuers in connecting with its investor base and highlighting their business performance by helping them hold online roadshows and broadcasting their earnings conference calls. During the year, the company held more than 60% of courses about high-quality Asian assets to investors.The company continued to invest in key brokerage technologies to enhance its capability to manage securities trading from the front end to execution and clearing. Self-clearing has long been the purview of traditional banks, but the company continues to ramp up its capability to conduct self-clearing and by the end of the fourth quarter, over 80% of clients were having their U.S. cash equities trades self-cleared. As a result of the company’s investment in clearing technology, clearing costsdeclined quarter over quarter by 27.8%.As part of its international expansion, the company continued to obtain new licenses and qualifications in multiple international jurisdictions. The firm now holds 50 licenses and qualifications across 37 categories in Hong Kong, Singapore, The U.S., New Zealand, and Australia. The company looks forward to using these licenses to further support its international expansion.UP Fintechis also receiving growing recognition in international capital markets and in 2021 was selected for inclusion in the MSCI China All Shares Index and the MSCI China Small Cap Index.The fourth quarter was the third consecutive quarter of more than 100% YoY growth in funded accounts in Singapore. The total number of registered accounts in Singapore now represents 15% of Singapore's population aged 20+Since entering Singapore in February 2020,UP Fintechhas continued to consolidate its position in the local market. More than half of new funded accounts in the fourth quarter came from Singapore. According to App Annie, as of the end of 2021, as measured by the total number of accounts and downloads,UP Fintech’s flagship mobile trading App, Tiger Trade, led the online brokerage market in Singapore.The fourth quarter wasthe third consecutive quarter of over 100%year-over-yeargrowth in funded accounts in Singapore,and the numberof registered accounts now represents 15% of Singapore's population aged 20or above. In addition, approximately 30% of the new funded accountsin Singaporein the fourth quarter came from users over the age of 40, which demonstrates the firm’s trading platform appeals to a wide range of investors.UP Fintech’s leading position in the Singapore market is due to its relentless focus on localization. In the fourth quarter, to better meet the needs of local clients, the company added a new module to allow easy display of Singapore companies listed in The U.S. market. The company also added new features such as industry classifications and sponsor data to assist customers learn more about local investment opportunities.In the fourth quarter, the company offered customers in Singapore the opportunity to subscribe shares from two local issuers. The company also enabled institutional clients in Singapore the ability to participate in the global offerings of new issuers in Hong Kong, further increasing the ability of local investors to participate in China’s capital markets.The AUM ofUP Fintech’swealth management business in Singapore increased by 186.5% while the number of customers increased by 223.9% quarter-over-quarter respectively. To increase the value proposition of Cash Plus in international markets, the company introduced lower thresholds for customers to invest their capital in Cash Plus. Local customers may now invest in Cash Plus with just 1 USD, 1 SGD, or 5 HKD and may transfer their funds in and out at any time. During the year, the company joined the Securities Association of Singapore and was honored that its subsidiary, Tiger Brokers (Singapore) Pte. Ltd., was officially admitted as a trading member of Singapore Exchange Securities Trading Limited and Singapore Exchange Derivatives Trading Limited, and clearing member and depository agent of The Central Depository (Pte) Limited. The company is the first fintech enabled brokerage in the world to obtain such qualifications in Singapore. In November 2021, UP Fintech’s Singapore subsidiary was Named as \"Asia's Most Innovative Company\" by Fortune Times, a Singapore based business magazine, demonstrating the company’s innovative platform is gaining increasing recognition from local media.The Cumulative Number of ESOP Clients at the End of 2021 was 2.5X Higher than the Year Before and Annual Enterprise Services Revenue Increased by 67%Corporate services such as investment banking and ESOP have become a new driver of the company’s long-term growth. According to the company’s Q4 financial results, other revenues, which includes revenue from investment banking and ESOP, reached US$9.8 million in Q4, and annual revenue from this segment reached US$37.7 million, an increase of 67% from the prior year.As of December 31st, 2021, 90% of new issuers with market capitalization in excess of HK$100 billion in Hong Kong and 100% of new U.S. ADR issuers with market capitalization over US$1 billion cooperated with UP Fintech’s investment bank or chose to use the company’s ESOP service.During the fourth quarter, the company leveraged the strength of its innovative platform and comprehensive range of services to participate in the underwriting and distribution of 22 listings in The U.S. and Hong Kong. In Hong Kong, the company acted as an underwriter in the global offerings of NetEase Cloud Music, Sense Time, and Airdoc. For the listing of NetEase Cloud Music, the company was the sole online broker to participate in the global offering. In The U.S., the company leveraged its rich investment banking experience, licenses, and technical capabilities to serve as an underwriter for 15 U.S. IPOs. The 2021 IPO of Kuke Music was another notable milestone for the company; the company was the first online broker to serve as the lead underwriter in a U.S. IPO.In the fourth quarter, the company’s investment bank continued to provide a rich range of services to next generation technology companies at multiple stages of their growth, from pre-IPO financial advisory to post listing capital markets services. In 2021, the company provided financial advisory services to over 30 companies. Finally, the company also assisted Canadian Solar conduct an ATM (At The Market) offering to raise additional capital to support the expansion of its green energy business.With regards to the company’s ESOP business,UP Fintechadded 51 new clients during the quarter. Despite launching the business just over three years ago, the total number of clients served by the company’s ESOP system reached 313, an increase of 152.4% year-over-year. The company’s ESOP system has extensive capabilities that allow it serve clients listed in Hong Kong, The U.S., and China; the company’s ESOP system also serves a diverse range of pre-IPO clients.As a global ESOP provider, the company offers comprehensive services for corporate ESOP management across multiple capital markets. In the fourth quarter, Tiger ESOP provided the pharmaceutical R&D company, Pharmaron, with equity incentive management solutions for both A+H share capital markets. At the same time,UP Fintechalso provided ESOP-related tax, foreign exchange, and other specialized services for Pharmaron’'s multinational employee base that includes British, American, and Chinese nationals. UP Fintech’s capability to provide ESOP and other ancillary services across multiple capital markets and nationalities is a testament to the sophistication of its ESOP system and ability to meet clients’ complex needs.On the company’s vibrant social media community, The Tiger Community, 35 new corporations opened enterprise accounts in the fourth quarter, including seven internationally renowned fund companies, such as Fidelity International and Lion Global Investors. As more and more corporations open enterprise accounts in the Tiger Community, the company’s 9+ million user base is able to increase its interaction and understanding of the vast range of issuers and fund companies present in the community.UP Fintech’s online community continues to build its position as a preferred investor relations & PR platform for next generation technology companies. The company recently assisted Xiaomi hold an online product launch, helped organize an online conference for Kuaishou, and held a listing anniversary for Dada Nexus. Corporates are drawn to enterprise accounts as they may employ innovative marketing materials, such as interactive graphics and livestreams, to directly connect with investors and customers.Many enterprise accounts have already received over one million views and the company looks forward to inviting more investors and corporates to participate in its online community.","news_type":1},"isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9032725698,"gmtCreate":1647447510444,"gmtModify":1676534231499,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"an&nbsp;interesting read! 🎢","listText":"an&nbsp;interesting read! 🎢","text":"an interesting read! 🎢","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032725698","repostId":"2219276104","repostType":4,"repost":{"id":"2219276104","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1647439200,"share":"https://www.laohu8.com/m/news/2219276104?lang=&edition=full","pubTime":"2022-03-16 22:00","market":"us","language":"en","title":"The Stock Market Is Not a Roller Coaster, a Bull, a Bear or a Dead Cat","url":"https://stock-news.laohu8.com/highlight/detail?id=2219276104","media":"Dow Jones","summary":"How the metaphors we use to explain markets can steer investors into dumb decisions.When the stock m","content":"<html><head></head><body><p>How the metaphors we use to explain markets can steer investors into dumb decisions.</p><p>When the stock market plunges, we all go to Disney World -- or Six Flags. Buckle up for this roller coaster, the commentators tell us. Keep your hands, arms and assets inside the vehicle at all times.</p><p>The theme-park thrill ride is our most tired metaphor for market volatility. When the VIX  spiked this year, roller coasters showed up everywhere on financial media in both words and images: on the cover of The Economist, on all the major financial networks and newspapers and, too often for my taste, on MarketWatch.</p><p>The language and imagery we use to talk about markets matters. In <a href=\"https://laohu8.com/S/AONE.U\">one</a> of my first columns after becoming editor of this site in 2014, I said we were banning photos of traders on the floor of the New York Stock Exchange because these &#34;human emoji&#34; no longer reflected the modern reality of a market divorced from the physical space of Wall Street.</p><p>I shouldn&#39;t have stopped there. So in this, my final column for MarketWatch, I think it&#39;s time to retire the roller coaster as an illustration of volatility, because the metaphor is a mediocre visual joke that&#39;s unfair to both amusement parks and markets.</p><p>We lean on the rides to convey turbulence, because the hills, twists and inversions seem like stock charts drawn in real life, and the rides, like markets, induce anxiety, adrenaline, and enough G forces to empty your pockets or make you lose your lunch. So what&#39;s wrong with these images? To explore this question, I reached out to two uniquely qualified experts on the subject: 1. A professor of business and psychology who has studied how market metaphors impact the decisions investors make. And 2. A roller-coaster designer.</p><p>But first, it&#39;s important to consider how metaphors influence our thoughts and behaviors. In &#34;Metaphors We Live By,&#34; a seminal work by the philosophers George Lakoff and Mark Johnson, they make the case that &#34;the way we think, what we experience, and what we do every day is very much a matter of metaphor.&#34; What does this have to do with roller coasters? Well, as Lakoff and Johnson say, &#34;the major metaphor in our culture is HAPPY IS UP.&#34;</p><p>When we feel good, we say we are up, we strive to climb the corporate ladder, we want to get a raise. Happy is definitely up on a market chart, unless you&#39;re a short seller. Up is more. Up is richer. Up is one step closer to joining the Great Resignation and jetting off to the Almafi coast. But the most happy moments on a roller coaster, as someone who loves roller coasters, are not the ups, but the most horrific, violent stretches of a market chart: the steep drops and wild turns.</p><p>&#34;The ups and downs in the emotions don&#39;t correlate with the ups and downs in distance above the floor,&#34; said Brendan Walker, a London-based &#34;thrill engineer&#34; with two decades of roller-coaster design experience. &#34;The points of sudden change are the most exciting moments, made to be scary as hell or fun and exhilarating.&#34;</p><p>The metaphor does work in one sense: Inching up the lift hill is a moment of building anticipation and nerves, Walker said. Like investors wondering if they should bail out before the bottom falls out, nervous riders whisper to themselves over and over again as the train lurches upward: &#34;Is this the top yet?&#34; Most of life is more like waiting in line for the ride than actually riding it, of course.</p><p>But remember, roller coasters, unlike volatile markets, are a form of entertainment, with each of the 90-120 seconds choreographed to neurotransmit a cocktail of maximal pleasure and excitement. &#34;They seem to be very risky, but this is one of the most risk-averse industries around,&#34; said Walker, whose current venture, Studio Go Go, specializes in enhancing older rides with the addition of virtual reality. &#34;A new ride costs $25 million and needs to appeal to 95% of visitors.&#34; They are designed to be a safe way to experience the feeling of risk, said Walker. &#34;This is not skydiving or skiing black runs off-piste.&#34;</p><p>Theme-park rides sometimes end badly -- I once watched helplessly as my nephew was thrown from a carnival ride, thankfully sustaining only &#34;minor injuries&#34; -- but, for the most part, we can be fairly certain that we end up right back where we started, unscathed, maybe smiling, maybe muttering &#34;never again,&#34; but no poorer for the journey.</p><p>Markets can be far more hazardous -- and so can market metaphors. Roller-coaster images may provide false comfort to investors, said Michael Morris, a business professor and psychologist at Columbia University. &#34;It&#39;s a bit like the bubble metaphor, which suggests that once it has popped it is a safe time to invest, the danger is over.&#34;</p><p>In a 2007 paper, &#34;Metaphors and the Market,&#34; Morris and his co-authors studied the impact a range of metaphors used by financial media had on investor decision making, focusing on two types: &#34;agent&#34; metaphors, which suggest the market is an animal spirit that climbs, claws, charges, or flies vs. that &#34;object&#34; metaphors, passive victims of gravity, as in &#34;the  Dow fell off a cliff.&#34; Presumably dead cats bounce into and out of the latter category.</p><p>&#34;Humans detect the features of things that are self-propelled and the things that defy gravity and we treat them very differently,&#34; Morris told me. In experiments they found that agent metaphors made investors more confident that the current trends were likely to continue. Media commentary causes investors to take uptrends as meaningful signals and downtrends as something that can be ignored, the paper argues.</p><p>Even the market chart itself can mislead investors this way. The lines on a chart suggest continued trajectories, Morris said. Investors fared better after being shown tables of data as opposed to a chart, he said. Allusions to roller coasters might have a similar effect, his research found, since they have &#34;unsteady but regular trajectories. And they may imply that the past regularity portends future regularity.&#34;</p><p>Behavioral economist Richard Thaler has joked that investors would be better off watching ESPN than a business network, and maybe he has a point. Financial journalists have a responsibility to think critically about the language and imagery used to explain the market. We should be up front about how little we know, and we should banish all the bears and B.S. We can do better.</p><p>Morris told me that his metaphor research was conducted well before the rise of social media, and these days the major financial networks and sites may be the least of investors&#39; problems. &#34;If you want to be a contrarian thinker, the last thing you want is ignorant people shouting in your ear,&#34; he said.</p><p>Investing is not for the faint of heart. But unlike markets, every roller coaster must come to an end. Writing for and editing MarketWatch has been one the great thrills of my life. Thanks for reading and riding along with me.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Stock Market Is Not a Roller Coaster, a Bull, a Bear or a Dead Cat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Stock Market Is Not a Roller Coaster, a Bull, a Bear or a Dead Cat\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-03-16 22:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>How the metaphors we use to explain markets can steer investors into dumb decisions.</p><p>When the stock market plunges, we all go to Disney World -- or Six Flags. Buckle up for this roller coaster, the commentators tell us. Keep your hands, arms and assets inside the vehicle at all times.</p><p>The theme-park thrill ride is our most tired metaphor for market volatility. When the VIX  spiked this year, roller coasters showed up everywhere on financial media in both words and images: on the cover of The Economist, on all the major financial networks and newspapers and, too often for my taste, on MarketWatch.</p><p>The language and imagery we use to talk about markets matters. In <a href=\"https://laohu8.com/S/AONE.U\">one</a> of my first columns after becoming editor of this site in 2014, I said we were banning photos of traders on the floor of the New York Stock Exchange because these &#34;human emoji&#34; no longer reflected the modern reality of a market divorced from the physical space of Wall Street.</p><p>I shouldn&#39;t have stopped there. So in this, my final column for MarketWatch, I think it&#39;s time to retire the roller coaster as an illustration of volatility, because the metaphor is a mediocre visual joke that&#39;s unfair to both amusement parks and markets.</p><p>We lean on the rides to convey turbulence, because the hills, twists and inversions seem like stock charts drawn in real life, and the rides, like markets, induce anxiety, adrenaline, and enough G forces to empty your pockets or make you lose your lunch. So what&#39;s wrong with these images? To explore this question, I reached out to two uniquely qualified experts on the subject: 1. A professor of business and psychology who has studied how market metaphors impact the decisions investors make. And 2. A roller-coaster designer.</p><p>But first, it&#39;s important to consider how metaphors influence our thoughts and behaviors. In &#34;Metaphors We Live By,&#34; a seminal work by the philosophers George Lakoff and Mark Johnson, they make the case that &#34;the way we think, what we experience, and what we do every day is very much a matter of metaphor.&#34; What does this have to do with roller coasters? Well, as Lakoff and Johnson say, &#34;the major metaphor in our culture is HAPPY IS UP.&#34;</p><p>When we feel good, we say we are up, we strive to climb the corporate ladder, we want to get a raise. Happy is definitely up on a market chart, unless you&#39;re a short seller. Up is more. Up is richer. Up is one step closer to joining the Great Resignation and jetting off to the Almafi coast. But the most happy moments on a roller coaster, as someone who loves roller coasters, are not the ups, but the most horrific, violent stretches of a market chart: the steep drops and wild turns.</p><p>&#34;The ups and downs in the emotions don&#39;t correlate with the ups and downs in distance above the floor,&#34; said Brendan Walker, a London-based &#34;thrill engineer&#34; with two decades of roller-coaster design experience. &#34;The points of sudden change are the most exciting moments, made to be scary as hell or fun and exhilarating.&#34;</p><p>The metaphor does work in one sense: Inching up the lift hill is a moment of building anticipation and nerves, Walker said. Like investors wondering if they should bail out before the bottom falls out, nervous riders whisper to themselves over and over again as the train lurches upward: &#34;Is this the top yet?&#34; Most of life is more like waiting in line for the ride than actually riding it, of course.</p><p>But remember, roller coasters, unlike volatile markets, are a form of entertainment, with each of the 90-120 seconds choreographed to neurotransmit a cocktail of maximal pleasure and excitement. &#34;They seem to be very risky, but this is one of the most risk-averse industries around,&#34; said Walker, whose current venture, Studio Go Go, specializes in enhancing older rides with the addition of virtual reality. &#34;A new ride costs $25 million and needs to appeal to 95% of visitors.&#34; They are designed to be a safe way to experience the feeling of risk, said Walker. &#34;This is not skydiving or skiing black runs off-piste.&#34;</p><p>Theme-park rides sometimes end badly -- I once watched helplessly as my nephew was thrown from a carnival ride, thankfully sustaining only &#34;minor injuries&#34; -- but, for the most part, we can be fairly certain that we end up right back where we started, unscathed, maybe smiling, maybe muttering &#34;never again,&#34; but no poorer for the journey.</p><p>Markets can be far more hazardous -- and so can market metaphors. Roller-coaster images may provide false comfort to investors, said Michael Morris, a business professor and psychologist at Columbia University. &#34;It&#39;s a bit like the bubble metaphor, which suggests that once it has popped it is a safe time to invest, the danger is over.&#34;</p><p>In a 2007 paper, &#34;Metaphors and the Market,&#34; Morris and his co-authors studied the impact a range of metaphors used by financial media had on investor decision making, focusing on two types: &#34;agent&#34; metaphors, which suggest the market is an animal spirit that climbs, claws, charges, or flies vs. that &#34;object&#34; metaphors, passive victims of gravity, as in &#34;the  Dow fell off a cliff.&#34; Presumably dead cats bounce into and out of the latter category.</p><p>&#34;Humans detect the features of things that are self-propelled and the things that defy gravity and we treat them very differently,&#34; Morris told me. In experiments they found that agent metaphors made investors more confident that the current trends were likely to continue. Media commentary causes investors to take uptrends as meaningful signals and downtrends as something that can be ignored, the paper argues.</p><p>Even the market chart itself can mislead investors this way. The lines on a chart suggest continued trajectories, Morris said. Investors fared better after being shown tables of data as opposed to a chart, he said. Allusions to roller coasters might have a similar effect, his research found, since they have &#34;unsteady but regular trajectories. And they may imply that the past regularity portends future regularity.&#34;</p><p>Behavioral economist Richard Thaler has joked that investors would be better off watching ESPN than a business network, and maybe he has a point. Financial journalists have a responsibility to think critically about the language and imagery used to explain the market. We should be up front about how little we know, and we should banish all the bears and B.S. We can do better.</p><p>Morris told me that his metaphor research was conducted well before the rise of social media, and these days the major financial networks and sites may be the least of investors&#39; problems. &#34;If you want to be a contrarian thinker, the last thing you want is ignorant people shouting in your ear,&#34; he said.</p><p>Investing is not for the faint of heart. But unlike markets, every roller coaster must come to an end. Writing for and editing MarketWatch has been one the great thrills of my life. Thanks for reading and riding along with me.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2219276104","content_text":"How the metaphors we use to explain markets can steer investors into dumb decisions.When the stock market plunges, we all go to Disney World -- or Six Flags. Buckle up for this roller coaster, the commentators tell us. Keep your hands, arms and assets inside the vehicle at all times.The theme-park thrill ride is our most tired metaphor for market volatility. When the VIX  spiked this year, roller coasters showed up everywhere on financial media in both words and images: on the cover of The Economist, on all the major financial networks and newspapers and, too often for my taste, on MarketWatch.The language and imagery we use to talk about markets matters. In one of my first columns after becoming editor of this site in 2014, I said we were banning photos of traders on the floor of the New York Stock Exchange because these \"human emoji\" no longer reflected the modern reality of a market divorced from the physical space of Wall Street.I shouldn't have stopped there. So in this, my final column for MarketWatch, I think it's time to retire the roller coaster as an illustration of volatility, because the metaphor is a mediocre visual joke that's unfair to both amusement parks and markets.We lean on the rides to convey turbulence, because the hills, twists and inversions seem like stock charts drawn in real life, and the rides, like markets, induce anxiety, adrenaline, and enough G forces to empty your pockets or make you lose your lunch. So what's wrong with these images? To explore this question, I reached out to two uniquely qualified experts on the subject: 1. A professor of business and psychology who has studied how market metaphors impact the decisions investors make. And 2. A roller-coaster designer.But first, it's important to consider how metaphors influence our thoughts and behaviors. In \"Metaphors We Live By,\" a seminal work by the philosophers George Lakoff and Mark Johnson, they make the case that \"the way we think, what we experience, and what we do every day is very much a matter of metaphor.\" What does this have to do with roller coasters? Well, as Lakoff and Johnson say, \"the major metaphor in our culture is HAPPY IS UP.\"When we feel good, we say we are up, we strive to climb the corporate ladder, we want to get a raise. Happy is definitely up on a market chart, unless you're a short seller. Up is more. Up is richer. Up is one step closer to joining the Great Resignation and jetting off to the Almafi coast. But the most happy moments on a roller coaster, as someone who loves roller coasters, are not the ups, but the most horrific, violent stretches of a market chart: the steep drops and wild turns.\"The ups and downs in the emotions don't correlate with the ups and downs in distance above the floor,\" said Brendan Walker, a London-based \"thrill engineer\" with two decades of roller-coaster design experience. \"The points of sudden change are the most exciting moments, made to be scary as hell or fun and exhilarating.\"The metaphor does work in one sense: Inching up the lift hill is a moment of building anticipation and nerves, Walker said. Like investors wondering if they should bail out before the bottom falls out, nervous riders whisper to themselves over and over again as the train lurches upward: \"Is this the top yet?\" Most of life is more like waiting in line for the ride than actually riding it, of course.But remember, roller coasters, unlike volatile markets, are a form of entertainment, with each of the 90-120 seconds choreographed to neurotransmit a cocktail of maximal pleasure and excitement. \"They seem to be very risky, but this is one of the most risk-averse industries around,\" said Walker, whose current venture, Studio Go Go, specializes in enhancing older rides with the addition of virtual reality. \"A new ride costs $25 million and needs to appeal to 95% of visitors.\" They are designed to be a safe way to experience the feeling of risk, said Walker. \"This is not skydiving or skiing black runs off-piste.\"Theme-park rides sometimes end badly -- I once watched helplessly as my nephew was thrown from a carnival ride, thankfully sustaining only \"minor injuries\" -- but, for the most part, we can be fairly certain that we end up right back where we started, unscathed, maybe smiling, maybe muttering \"never again,\" but no poorer for the journey.Markets can be far more hazardous -- and so can market metaphors. Roller-coaster images may provide false comfort to investors, said Michael Morris, a business professor and psychologist at Columbia University. \"It's a bit like the bubble metaphor, which suggests that once it has popped it is a safe time to invest, the danger is over.\"In a 2007 paper, \"Metaphors and the Market,\" Morris and his co-authors studied the impact a range of metaphors used by financial media had on investor decision making, focusing on two types: \"agent\" metaphors, which suggest the market is an animal spirit that climbs, claws, charges, or flies vs. that \"object\" metaphors, passive victims of gravity, as in \"the  Dow fell off a cliff.\" Presumably dead cats bounce into and out of the latter category.\"Humans detect the features of things that are self-propelled and the things that defy gravity and we treat them very differently,\" Morris told me. In experiments they found that agent metaphors made investors more confident that the current trends were likely to continue. Media commentary causes investors to take uptrends as meaningful signals and downtrends as something that can be ignored, the paper argues.Even the market chart itself can mislead investors this way. The lines on a chart suggest continued trajectories, Morris said. Investors fared better after being shown tables of data as opposed to a chart, he said. Allusions to roller coasters might have a similar effect, his research found, since they have \"unsteady but regular trajectories. And they may imply that the past regularity portends future regularity.\"Behavioral economist Richard Thaler has joked that investors would be better off watching ESPN than a business network, and maybe he has a point. Financial journalists have a responsibility to think critically about the language and imagery used to explain the market. We should be up front about how little we know, and we should banish all the bears and B.S. We can do better.Morris told me that his metaphor research was conducted well before the rise of social media, and these days the major financial networks and sites may be the least of investors' problems. \"If you want to be a contrarian thinker, the last thing you want is ignorant people shouting in your ear,\" he said.Investing is not for the faint of heart. But unlike markets, every roller coaster must come to an end. Writing for and editing MarketWatch has been one the great thrills of my life. Thanks for reading and riding along with me.","news_type":1},"isVote":1,"tweetType":1,"viewCount":302,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9032594447,"gmtCreate":1647395288607,"gmtModify":1676534224573,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like for good luck! 🍀","listText":"give a like for good luck! 🍀","text":"give a like for good luck! 🍀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032594447","repostId":"2219341807","repostType":4,"repost":{"id":"2219341807","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1647384621,"share":"https://www.laohu8.com/m/news/2219341807?lang=&edition=full","pubTime":"2022-03-16 06:50","market":"us","language":"en","title":"Wall Street Jumps as S&P Snaps 3-Day Slump; Fed on Tap","url":"https://stock-news.laohu8.com/highlight/detail?id=2219341807","media":"Reuters","summary":"* Airlines rise on forecasts* Energy shares fall as oil drops below $100 a barrel* Dow up 1.82%, S&P 500 up 2.14%, Nasdaq up 2.92%NEW YORK, March 15 (Reuters) - U.S. stocks rallied on Tuesday and the ","content":"<html><head></head><body><p>* Airlines rise on forecasts</p><p>* Energy shares fall as oil drops below $100 a barrel</p><p>* Dow up 1.82%, S&amp;P 500 up 2.14%, Nasdaq up 2.92%</p><p>NEW YORK, March 15 (Reuters) - U.S. stocks rallied on Tuesday and the S&amp;P 500 ended a 3-day skid as another drop in oil prices and a softer-than-expected reading on producer prices helped ease inflation fears among investors, with the focus turning to the Federal Reserve&#39;s upcoming policy announcement.</p><p>Brent crude settled below $100 a barrel after rocketing higher to more than $139 last week, providing some temporary relief for equity investors that have seen stocks come under pressure this year from surging inflation concerns, uncertainty over the Fed&#39;s policy path to tame rising prices and more recently, escalating conflict in Ukraine.</p><p>U.S. producer prices increased solidly in February as the cost of goods like gasoline surged, and further gains are in the pipeline following Russia&#39;s invasion of Ukraine, which has made crude oil and other commodities more expensive.</p><p>Still, the data for the 12 months through February matched expectations predicting a 10% increase in producer prices, while the producer price index for final demand on a monthly basis increased 0.8%, just shy of the 0.9% estimate and lower than the 1.2% increase registered in January.</p><p>The market is now fully pricing in a rate hike of at least 25 basis points when the central bank makes its policy statement on Wednesday. Investors will also be closely watching the Fed&#39;s projections for the path of rate hikes this year and in coming years to rein in inflation.</p><p>Fed Chairman Jerome Powell has recently floated multiple rate hikes this year as the Fed seeks to curb inflation.</p><p>&#34;The fact is (PPI) was weaker than the expectation so therefore the idea that Jay Powell is right going 25 basis points seems to be the way the market feels today, that could change tomorrow,&#34; said Ken Polcari, managing partner at Kace Capital Advisors in Boca Raton, Florida.</p><p>&#34;The market is in a very oversold position, there are still going to be bumpy roads ahead but today could just be one of those snap-back rallies like we saw last week.&#34;</p><p>The Dow Jones Industrial Average rose 599.1 points, or 1.82%, to 33,544.34, the S&amp;P 500 gained 89.34 points, or 2.14%, to 4,262.45 and the Nasdaq Composite added 367.40 points, or 2.92%, to 12,948.62.</p><p>The S&amp;P 500 slumped about 2.4% in the prior three sessions and recently joined the Dow, Nasdaq and Russell 2000    in forming a &#34;death cross&#34; technical pattern, when a short-term moving average crosses below a longer-term moving average, which some investors believe signals more near-term weakness is likely.</p><p>Ten of the 11 major S&amp;P sectors advanced, with technology and consumer discretionary stocks leading the way while energy, the sole positive sector on the year, slumped nearly 4% on the day along with crude prices.</p><p>Megacap growth stocks gained with Microsoft Corp up 3.87% and Apple up 2.97%, providing the biggest boosts to the S&amp;P 500 and the Nasdaq.</p><p>Meanwhile, investors also closely tracked a jump in daily COVID-19 infections in China for the possibility of denting global economic growth, and progress in Ukraine-Russia talks to end their weeks-long conflict.</p><p>In the latest hint at compromise, Ukrainian President Volodymyr Zelenskiy said Kyiv was prepared to accept security guarantees that stop short of its long-term objective of the NATO alliance membership, which Moscow opposes.</p><p>Delta Air Lines Inc gained 8.70% and United Airlines jumped 9.19% after the U.S. carriers raised their current-quarter revenue forecasts, even as they trimmed capacity. The Arca Airline index climbed 5.57%.</p><p>Volume on U.S. exchanges was 13.46 billion shares, compared with the 13.78 billion average for the full session over the last 20 trading days.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.07-to-1 ratio; on Nasdaq, a 1.72-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 12 new 52-week highs and 8 new lows; the Nasdaq Composite recorded 21 new highs and 386 new lows.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Jumps as S&P Snaps 3-Day Slump; Fed on Tap</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street Jumps as S&P Snaps 3-Day Slump; Fed on Tap\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-16 06:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Airlines rise on forecasts</p><p>* Energy shares fall as oil drops below $100 a barrel</p><p>* Dow up 1.82%, S&amp;P 500 up 2.14%, Nasdaq up 2.92%</p><p>NEW YORK, March 15 (Reuters) - U.S. stocks rallied on Tuesday and the S&amp;P 500 ended a 3-day skid as another drop in oil prices and a softer-than-expected reading on producer prices helped ease inflation fears among investors, with the focus turning to the Federal Reserve&#39;s upcoming policy announcement.</p><p>Brent crude settled below $100 a barrel after rocketing higher to more than $139 last week, providing some temporary relief for equity investors that have seen stocks come under pressure this year from surging inflation concerns, uncertainty over the Fed&#39;s policy path to tame rising prices and more recently, escalating conflict in Ukraine.</p><p>U.S. producer prices increased solidly in February as the cost of goods like gasoline surged, and further gains are in the pipeline following Russia&#39;s invasion of Ukraine, which has made crude oil and other commodities more expensive.</p><p>Still, the data for the 12 months through February matched expectations predicting a 10% increase in producer prices, while the producer price index for final demand on a monthly basis increased 0.8%, just shy of the 0.9% estimate and lower than the 1.2% increase registered in January.</p><p>The market is now fully pricing in a rate hike of at least 25 basis points when the central bank makes its policy statement on Wednesday. Investors will also be closely watching the Fed&#39;s projections for the path of rate hikes this year and in coming years to rein in inflation.</p><p>Fed Chairman Jerome Powell has recently floated multiple rate hikes this year as the Fed seeks to curb inflation.</p><p>&#34;The fact is (PPI) was weaker than the expectation so therefore the idea that Jay Powell is right going 25 basis points seems to be the way the market feels today, that could change tomorrow,&#34; said Ken Polcari, managing partner at Kace Capital Advisors in Boca Raton, Florida.</p><p>&#34;The market is in a very oversold position, there are still going to be bumpy roads ahead but today could just be one of those snap-back rallies like we saw last week.&#34;</p><p>The Dow Jones Industrial Average rose 599.1 points, or 1.82%, to 33,544.34, the S&amp;P 500 gained 89.34 points, or 2.14%, to 4,262.45 and the Nasdaq Composite added 367.40 points, or 2.92%, to 12,948.62.</p><p>The S&amp;P 500 slumped about 2.4% in the prior three sessions and recently joined the Dow, Nasdaq and Russell 2000    in forming a &#34;death cross&#34; technical pattern, when a short-term moving average crosses below a longer-term moving average, which some investors believe signals more near-term weakness is likely.</p><p>Ten of the 11 major S&amp;P sectors advanced, with technology and consumer discretionary stocks leading the way while energy, the sole positive sector on the year, slumped nearly 4% on the day along with crude prices.</p><p>Megacap growth stocks gained with Microsoft Corp up 3.87% and Apple up 2.97%, providing the biggest boosts to the S&amp;P 500 and the Nasdaq.</p><p>Meanwhile, investors also closely tracked a jump in daily COVID-19 infections in China for the possibility of denting global economic growth, and progress in Ukraine-Russia talks to end their weeks-long conflict.</p><p>In the latest hint at compromise, Ukrainian President Volodymyr Zelenskiy said Kyiv was prepared to accept security guarantees that stop short of its long-term objective of the NATO alliance membership, which Moscow opposes.</p><p>Delta Air Lines Inc gained 8.70% and United Airlines jumped 9.19% after the U.S. carriers raised their current-quarter revenue forecasts, even as they trimmed capacity. The Arca Airline index climbed 5.57%.</p><p>Volume on U.S. exchanges was 13.46 billion shares, compared with the 13.78 billion average for the full session over the last 20 trading days.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.07-to-1 ratio; on Nasdaq, a 1.72-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 12 new 52-week highs and 8 new lows; the Nasdaq Composite recorded 21 new highs and 386 new lows.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","DAL":"达美航空","DXD":"道指两倍做空ETF","BK4554":"元宇宙及AR概念","SSO":"两倍做多标普500ETF","BK4515":"5G概念","BK4532":"文艺复兴科技持仓",".IXIC":"NASDAQ Composite","BK4570":"地缘局势概念股","BK4553":"喜马拉雅资本持仓","SDOW":"道指三倍做空ETF-ProShares","MSFT":"微软","BK4534":"瑞士信贷持仓","SQQQ":"纳指三倍做空ETF","SDS":"两倍做空标普500ETF","SH":"标普500反向ETF","BK4533":"AQR资本管理(全球第二大对冲基金)","IVV":"标普500指数ETF","BK4566":"资本集团","BK4575":"芯片概念","OEX":"标普100","SPXU":"三倍做空标普500ETF","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4501":"段永平概念","DJX":"1/100道琼斯","OEF":"标普100指数ETF-iShares","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4500":"航空公司","QID":"纳指两倍做空ETF","UPRO":"三倍做多标普500ETF","UDOW":"道指三倍做多ETF-ProShares","BK4574":"无人驾驶","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","DDM":"道指两倍做多ETF","BK4512":"苹果概念","PSQ":"纳指反向ETF","AAPL":"苹果","DOG":"道指反向ETF",".SPX":"S&P 500 Index","QLD":"纳指两倍做多ETF","TQQQ":"纳指三倍做多ETF","BK4170":"电脑硬件、储存设备及电脑周边",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2219341807","content_text":"* Airlines rise on forecasts* Energy shares fall as oil drops below $100 a barrel* Dow up 1.82%, S&P 500 up 2.14%, Nasdaq up 2.92%NEW YORK, March 15 (Reuters) - U.S. stocks rallied on Tuesday and the S&P 500 ended a 3-day skid as another drop in oil prices and a softer-than-expected reading on producer prices helped ease inflation fears among investors, with the focus turning to the Federal Reserve's upcoming policy announcement.Brent crude settled below $100 a barrel after rocketing higher to more than $139 last week, providing some temporary relief for equity investors that have seen stocks come under pressure this year from surging inflation concerns, uncertainty over the Fed's policy path to tame rising prices and more recently, escalating conflict in Ukraine.U.S. producer prices increased solidly in February as the cost of goods like gasoline surged, and further gains are in the pipeline following Russia's invasion of Ukraine, which has made crude oil and other commodities more expensive.Still, the data for the 12 months through February matched expectations predicting a 10% increase in producer prices, while the producer price index for final demand on a monthly basis increased 0.8%, just shy of the 0.9% estimate and lower than the 1.2% increase registered in January.The market is now fully pricing in a rate hike of at least 25 basis points when the central bank makes its policy statement on Wednesday. Investors will also be closely watching the Fed's projections for the path of rate hikes this year and in coming years to rein in inflation.Fed Chairman Jerome Powell has recently floated multiple rate hikes this year as the Fed seeks to curb inflation.\"The fact is (PPI) was weaker than the expectation so therefore the idea that Jay Powell is right going 25 basis points seems to be the way the market feels today, that could change tomorrow,\" said Ken Polcari, managing partner at Kace Capital Advisors in Boca Raton, Florida.\"The market is in a very oversold position, there are still going to be bumpy roads ahead but today could just be one of those snap-back rallies like we saw last week.\"The Dow Jones Industrial Average rose 599.1 points, or 1.82%, to 33,544.34, the S&P 500 gained 89.34 points, or 2.14%, to 4,262.45 and the Nasdaq Composite added 367.40 points, or 2.92%, to 12,948.62.The S&P 500 slumped about 2.4% in the prior three sessions and recently joined the Dow, Nasdaq and Russell 2000    in forming a \"death cross\" technical pattern, when a short-term moving average crosses below a longer-term moving average, which some investors believe signals more near-term weakness is likely.Ten of the 11 major S&P sectors advanced, with technology and consumer discretionary stocks leading the way while energy, the sole positive sector on the year, slumped nearly 4% on the day along with crude prices.Megacap growth stocks gained with Microsoft Corp up 3.87% and Apple up 2.97%, providing the biggest boosts to the S&P 500 and the Nasdaq.Meanwhile, investors also closely tracked a jump in daily COVID-19 infections in China for the possibility of denting global economic growth, and progress in Ukraine-Russia talks to end their weeks-long conflict.In the latest hint at compromise, Ukrainian President Volodymyr Zelenskiy said Kyiv was prepared to accept security guarantees that stop short of its long-term objective of the NATO alliance membership, which Moscow opposes.Delta Air Lines Inc gained 8.70% and United Airlines jumped 9.19% after the U.S. carriers raised their current-quarter revenue forecasts, even as they trimmed capacity. The Arca Airline index climbed 5.57%.Volume on U.S. exchanges was 13.46 billion shares, compared with the 13.78 billion average for the full session over the last 20 trading days.Advancing issues outnumbered declining ones on the NYSE by a 2.07-to-1 ratio; on Nasdaq, a 1.72-to-1 ratio favored advancers.The S&P 500 posted 12 new 52-week highs and 8 new lows; the Nasdaq Composite recorded 21 new highs and 386 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573019619191060","authorId":"3573019619191060","name":"MayTan","avatar":"https://static.tigerbbs.com/808e2dbe5d70103ebf181c1496a31644","crmLevel":3,"crmLevelSwitch":1},"content":"Good luck to you too.","text":"Good luck to you too.","html":"Good luck to you too."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9036774053,"gmtCreate":1647224943146,"gmtModify":1676534204985,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like for good luck! 🍀","listText":"give a like for good luck! 🍀","text":"give a like for good luck! 🍀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036774053","repostId":"1113393789","repostType":4,"repost":{"id":"1113393789","pubTimestamp":1647224040,"share":"https://www.laohu8.com/m/news/1113393789?lang=&edition=full","pubTime":"2022-03-14 10:14","market":"us","language":"en","title":"Sea: The 75% Crash, The Earnings And A Forecast","url":"https://stock-news.laohu8.com/highlight/detail?id=1113393789","media":"seekingalpha","summary":"SummarySea reported its Q4 and FY 2021 earnings in early March. The stock has dropped substantially ","content":"<html><head></head><body><h2>Summary</h2><ul><li>Sea reported its Q4 and FY 2021 earnings in early March. The stock has dropped substantially since then, bringing it down 75% from its high now.</li><li>We look at the numbers in full detail and look at several insights that we can get from the numbers. Context is extremely important here.</li><li>We also look at the guidance and the future of Garena, Shopee and SeaMoney.</li><li>Sea has a ton of optionality, some obvious, some less obvious.</li><li>I argue why I think the stock has become cheap now from the perspective of a long-term investor.</li><li>I do much more than just articles at Potential Multibaggers: Members get access to model portfolios, regular updates, a chat room, and more.</li></ul><p><img src=\"https://static.tigerbbs.com/1cff71f84c3894bd1998e1f56d28fff2\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>kokkai/iStock Unreleased via Getty Images</p><h2>Introduction</h2><p>Sea&#39;s (SE) stock price has dropped a lot over the last few months and the recent Q4 and FY 2021 earnings results added to that drop, dropping 13% on the day of the earnings.</p><p><img src=\"https://static.tigerbbs.com/8ceff132707f80aa77bf9cca72683517\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Data byYCharts</p><p>The stock is now down 75% from its highs just a few months ago. And it is down ~58% year to date.</p><p><img src=\"https://static.tigerbbs.com/a44201e75874a9028274318e0053893c\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Data byYCharts</p><p>To put this into a meaningful context, let&#39;s dive into the Q4 and FY 2021 earnings first, which were released on March 1. Then look at what worries investors and if to which level that is warranted or not.</p><h2>The results in numbers</h2><p>As a group, Sea&#39;s revenue was $3.2B inQ4 2021, up 105.7% YoY, another double. Gross profit came in at $1.3B, up 145.6%. That&#39;s already important to see and therefore I want to point it out: gross profits are up more than revenue. The company has substantially higher gross profits than revenue growth, which shows that its growth leads to cost advantages, also known as operating leverage.</p><p>The EBITDA, though, came in at a loss of $492.1M, while it was a positive $48.7M in Q4 2020, that strange year. We&#39;ll come back to this, but let&#39;s first look at Sea&#39;s different divisions.</p><h2>Garena</h2><p>Garena&#39;s revenue was $1.4B, up 104.1% YoY. Bookings were $1.1B, up just 6.8% YoY. It&#39;s essential to understand the difference between these two. Bookings are the money that gamers have already paid, but that money can only be recognized as revenue when they spend it. If they pay $50 but only spend $10 in Q1 2022, there will be $10 in revenue but $50 in bookings. In that way, bookings give you a window into the future.</p><p>The Garena EBITDA was $602.6M, down 10.11% YoY. That comes entirely from the margins going down from 65.5% to 55.7%. The QAUs or quarterly active users number was up 7.1% YoY. As you can see, this number is close to the 6.8% extra bookings and that&#39;s no coincidence as the two are linked closely.</p><p>The QPU or quarterly paying users were up 5.6% YoY to 77.2 million. That&#39;s 11.8% of all the QUAs, while that was 12% in Q4 2020. Don&#39;t forget that Q4 was an exceptional quarter because of the pandemic, so this is still pretty good and above pre-pandemic levels. The average paying user paid $1.70, unchanged from Q4 2020.</p><p>Free Fire remained the most downloaded game worldwide (for the third consecutive quarter) and ranked second when it came to monthly active users for all mobile games on Google Play for both the quarter and the full year. In Southeast Asia and Latin America, Free Fire remained the highest-grossing mobile game for the 10th consecutive quarter. Free Fire was the highest-grossing mobile battle royal game in the US for Q4 and FY 2021. All impressive achievements for a company with its first self-developed game.</p><p>What these numbers clearly show is that Free Fire, which accounts for about 75% of Garena&#39;s revenue, is still (here it comes)<i>firing</i>on all cylinders. It&#39;s a hugely successful game, and it keeps doing well, but the difference between Q4 2021 and Q4 2020 is, of course, that kids now have to go to school or college and, therefore, simply have less time to play their favorite game. Free Fire still grows, albeit modestly, which is a substantial accomplishment, although many won&#39;t see it like that. Overall, engagement in gaming has declined, as you can also see from the results from other gaming companies and that&#39;s not strange, considering the circumstances. We come back to Garena later in this article.</p><h2>Shopee</h2><p>Shopee&#39;s revenue came in at $1.6B, up 89.4% YoY, a very strong achievement, as this is also on top of a Covid-fueled Q4 2020. $1.3B came from marketplace revenue, up 103.5% YoY, the remaining $300M from product revenue, up 48.1% YoY. Product revenue is revenue from Shopee as 1P, in other words, products the company buys and sells itself, like the original Amazon model. As you can see, the marketplace revenue grows much faster, and of course, margins have the potential to be much higher there as well.</p><p>There were two billion gross orders in Q4 2021, resulting in 90.1% YoY growth, and total GMV came in at $18.2B. GMV stands for gross merchandise volume, meaning the total dollar amount of everything sold on the platform in Q4. GMV grew 52.7% YoY.</p><p>It&#39;s not strange to see this grow less outspoken than gross orders if you know the context. Shopee has launched in quite a few new markets recently (India, Mexico, Argentina...), and in new markets, people always tend to buy lower-priced items to test out the service. That lowers the average ticket price of items sold. With $18.2B and two billion orders, the average item cost is just above $9, relatively low, but you should see that go up over time, as it previously did in other markets.</p><p>The EBITDA for Shopee in Q4 was a loss of $877.7 million, more than doubling the EBITDA loss of 427.5M of Q4 2020. Again, this is the consequence of launching in new markets. If it launches,Shopeeinitially takes big losses because of free shipping and an extremely low take-rate (often zero) to onboard merchants. This could be another reason why investors are worried. In these times, interest rates are expected to grow. According to some banks, nine interest rate hikes areexpectedfor 2022 (which I don&#39;t see happening). Investors see this and they get scared about the big losses that Shopee brings to Sea. I&#39;ll address this worry later in the article.</p><p>In Southeast Asia and Taiwan, Shopee&#39;s original market, the EBITDA loss per order was $0.15, down from $0.21 in Q4 2020. That also shows that the bigger losses don&#39;t come from there, even though orders probably went up quite significantly. Again, the bigger losses came from the new markets Shopee invests in heavily to gain market share. It does that quite successfully, I should add.</p><h2>SeaMoney</h2><p>E-commerce platforms are not really that great when it comes to investing in them. The real value for shareholders is in the extra services built on top of them. Amazon launched Prime, MercadoLibre added MercadoPago and those are the real high-margin businesses that are interesting for the long-term investors that we are as Multis.</p><p>For Sea, SeaMoney is a great opportunity. Shopee is crucial in the acquisition of customers for SeaMoney. The service is fully integrated with Shopee. While Shopee&#39;s results were outstanding, SeaMoney&#39;s results were jaw-dropping.</p><p>Revenue was up 711.1% YoY to $197.5M in Q4. Of course, this was growing from a small basis, but that growth in just one year is always very impressive to see. At the same time, the EBITDA loss went down from $171.3M in last year&#39;s Q4 to $149.8M in Q4 2021. TPV (total payment volume) was up 70.1% YoY to $5B.</p><h2>In trouble or not?</h2><p>As you can guess, from the stock price drop, investors saw reasons that worried them. And a stock that is down 70% could indicate a company in trouble, right? Not so here.</p><h3>1. Garena</h3><p>Garena is seen as the main cause of the significant stock price drop. What mostly spooked investors was that several key metrics came down QoQ:</p><p><img src=\"https://static.tigerbbs.com/4285af7dc6e461e29bb2be62413b9792\" tg-width=\"308\" tg-height=\"421\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Earnings slides</p><p><img src=\"https://static.tigerbbs.com/1f487efbc5b4012d4ed433aeb7e0d3df\" tg-width=\"401\" tg-height=\"443\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Earnings slides</p><p><img src=\"https://static.tigerbbs.com/c7dd3b8252149dd4794e976231a52873\" tg-width=\"400\" tg-height=\"399\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Earnings slides</p><p><i>(Source:earnings call slides)</i></p><p>Especially the QPUs were down a lot compared to Q3 2021: 20%. QAUs were down 11.5% and bookings, the most important metric as this predicts the future revenue of Garena, 9%.</p><p>If you look at Activision Blizzard&#39;s (ATVI) resultsas a comparison, you see that Sea has actually done pretty well. Activision Blizzard&#39;s bookings were down 18.6% YoY already in Q4. However, it has to be said that Blizzard, the mobile gaming division, did better than the rest of the company&#39;s divisions, but still worse than Garena.</p><p>So, this is not a bad performance from Garena, but an industry-wide slowdown compared to that exceptional previous year that they had. You could argue that because of its core market in Southeast Asia, Garena&#39;s slowdown was slower to kick in as the pandemic restrictions were kept in place for a longer time there.</p><p>If you look at FY 2021, Garena&#39;s revenue was up 114.3% YoY to $4.3B, while bookings rose 44.3% YoY to $4.6B. For 2022, Sea projects bookings of $2.9B to $3.1B, which means 35% less than in 2021. While the adjusted EBTIDA was 60% of bookings in 2021, the current trend shows that this will probably be more between 50% and 55% going forward.</p><p>This was emphasized everywhere: Garena would no longer be a cash cow to fuel Sea&#39;s growth in its two other divisions. Some called this a huge problem. I can see the cause of the concerns, but I tend to disagree that this is a thesis-changing outlook if you consider this into a broader context, if you listen carefully to what management says, and especially if you look at the long term. Let me explain.</p><p>With $3B in bookings for FY 2022 and 50% EBITDA margins (both are very conservative, in my opinion), Garena would produce $1.5B in EBITDA for Sea. With $4.3B in bookings and 60% EBITDA margins, this was $2.58B in EBITDA in 2021. That&#39;s, give and take, a difference of $1.3B for one year, which is quite substantial, of course.</p><p>I think in reality, the difference will be smaller, as the company always guides very conservatively and on top of that, it has excluded India for the whole year, while there might be a solution coming, especially now that the Singaporean government has put its weight behind Sea versus the Indian government, asseveral sources have reported.</p><p>We still don&#39;t know why Free Fire was banned exactly. Did Garena partly use Chinese (Tencent) data centers? Seapointed out:</p><blockquote>We do not transfer to, or store any data of our Indian users in, China.</blockquote><p>Or was it the company structure, in which Tencent used to have quite some voting rights? Remarkably, Free Fire was banned just two days before Sea&#39;s General Meeting, which formalized the changes through which Tencent got less than 10% of the voting power.</p><p>Despite some Tencent ownership, Sea is entirely Singaporean and the relations between India and Singapore have been very good for a very long time. They signed the CECA (Comprehensive Economic Cooperation Agreement) in 2005 and Singapore is India&#39;s 5th-largest trading partner.</p><p>Forrest Li said on the conference call:</p><blockquote>We remain extremely focused on developing Garena&#39;s global platform, which we see as a key strategic asset in the long run.</blockquote><p>And in the press release:</p><blockquote>We are working on multiple prototype games across different stages through both self-development and publishing pipelines. In 2022 and beyond, we expect to expand our portfolio with more games across diverse genres such as multiplayer action, role-playing, sandbox and casual games.</blockquote><p>An analyst pressed a bit on the conference call, but Sea is not the company to announce long before. It only communicates when it can launch. But they are likely working on something new that can help Free Fire carry the burden of Garena. In 2020, it bought Phoenix Labs, the maker of Dauntless, and in 2021, it made investments in five other gaming companies. So I think they are working on something, but as is typical for the company, they only want to communicate when there is a launch date.</p><p>In 2023 (I think at the end of the year, but I haven&#39;t found explicit confirmation there), the current deal with Tencent (OTCPK:TCEHY) expires. Because of that deal, signed in 2018, the company has the first right to publish all Tencent games in Southeast Asia. So maybe that deal could be extended, maybe not. In any case, I think Garena needs a second game before that, just to hedge against a less favorable or no deal anymore.</p><p>Forrest Li addressed this issue and pointed out that next to developing their own games, Garena could expand their distribution deals beyond Tencent.</p><blockquote>Over the long-term, our priority remains sustaining and growing our existing major franchises, while diversifying our games portfolio. Our strong and growing self-development capabilities will be a key component of this diversification effort. Our teams are working on multiple prototype games across different genres and stages.</blockquote><blockquote>In due course, we expect to bring more self-developed games to market. We also continue to actively acquire and invest in top talent and game IP to further expand our capabilities of both genre and geographies. Meanwhile, we will keep growing our publishing relationships, leveraging our unique set of strengths across diverse global markets.</blockquote><p>Garena is also already working on the metaverse. Forrest Li onthe conference call:</p><blockquote>Additionally, we have seen strong engagements with user-generated content through modes like Craftland, our recently introduced map editor feature. Since the launch the most popular Craftland maps have subscribed by close to 40 million users so far.</blockquote><blockquote>We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.</blockquote><h3>2. Shopee</h3><p>With a negative EBITDA of $877M in a quarter, Shopee could be a reason to worry as well, especially now that Garena will be less profitable. Shopee had a negative $0.15 EBITDA per order. With two billion orders in a quarter, that&#39;s problematic, you would think. But it&#39;s not. Shopee is the number one marketplace now in all of its Southeastern Asian markets, even Indonesia, which was confirmed in the press release (my italics).</p><blockquote>In<i>Indonesia, where Shopee is the largest e-commerce platform</i>, gross orders grew by around 88% year-on-year. Shopee also continued to rank first in the Shopping category by average monthly active users and total time spent in-app for the fourth quarter and for the full year of 2021, according todata.ai.</blockquote><p>That&#39;s very exciting. Indonesia is expected to be one of the top-5 economies in 2050 (after China, the US, and India). Even if that prediction proves to be too optimistic, it&#39;s still a huge country with a huge population and huge growth perspectives.</p><p>Suppose the Garena projections would be accurate. $1.5B in EBITDA for Sea. That&#39;s free money, so to speak, to grow the two other businesses. Mercado Libre (MELI), Shopee&#39;s most significant competitor in LatAm, doesn&#39;t have that highly profitable division. GoTo, the company formed by Gojek and Tokopedia, the only really powerful competitor in Indonesia, doesn&#39;t have that capital either. Lazada, owned by Alibaba, has the firepower, of course, but it has had that for years and still, it lost its dominant position to Shopee over time. Shopee is the number one in all of the countries it launched in originally: Indonesia, the Philippines, Taiwan, Thailand, Malaysia, Singapore and Vietnam.</p><p>Being the biggest gives Sea leverage. Would you skip to another platform for $0.15 extra on an order of probably around $15 (as that&#39;s probably the current order size in SEA by now)? That&#39;s just 1%. I know that I wouldn&#39;t.</p><p>This is what Forrest Li, Sea&#39;s founder and CEO, said on the conference call:</p><blockquote>We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year.</blockquote><p>I&#39;m not sure what &#39;HQ cost allocation&#39; is precisely and that could have been made clearer. Is it a form of G&amp;A (general and administrative costs)? I like that Sea gives us a lot of insights in their business, much more than, for example, Amazon or Google do, but this should have been made clearer to know the impact.</p><p>But for the rest, this is good. In its guidance, Sea expects Shopee&#39;s revenue to grow by more than 75% in 2022 to $8.9B to $9.1B. It would be a good development if that can be profitable, or even at just a slight loss (after &#39;HQ cost allocation&#39;) in Shopee&#39;s core market. That means that the money that Garena still generates (and about $10B on the balance sheet) can be used to grow Shopee in Brazil and even earlier markets. From thepress release:</p><blockquote>In Brazil, where Shopee was launched in late 2019, we have already achieved strong traction with meaningful commercialization and improving efficiency.</blockquote><p>As you see, even in Brazil, the efficiency is improving, just barely two years after the launch.</p><p>Investors often make projections by drawing lines. From negative EBITDA of $427M to negative $877M, a red alarm goes off in their head, signaling that this is unsustainable. And, of course, it is. But you can&#39;t just draw a line from a loss of $427M to $877M to even more losses. Bringing things to the essence is very important in investing, but it is too complicated to make it too simple.</p><p>Of course, you should still expect negative EBITDA next year, as Shopee expects to continue investing heavily in Brazil. Forrest Li on the conference call:</p><blockquote>Broadly speaking Shopee LatAm and Brazil in particular, as well as R&amp;D will be our top two focus areas for investments. Our investments and the overall impact on the bottom line is likely front-loaded as unit economics and profitability for our businesses generally improve with scale.</blockquote><p>Forrest Li has shown that he executes when he talks. It&#39;s very rare for him to pound his chest. This time, he did that a bit, though, probably to comfort his shareholders, pointing out that Shopee has already been very successful in seven very diverse markets before. Here you see why I say that he pounds his chest because of Sea&#39;s shareholders (<i>my bold</i>):</p><blockquote>Of course, it&#39;d be much easier operationally for us to just focus on the seven existing core markets for Shopee. However, we strongly believe that by investing prudently and sustainably in Shopee Lat Am and Brazil in particular,<b>we will generate significant value for our shareholders in the long run.</b></blockquote><blockquote>While we do not underestimate the challenges of any new market expansion, I would also like to highlight that we have an established track record, seven times in seven highly diverse and complex markets of Southeast Asia and Taiwan, where we started in each of those markets in 2015. We have significantly net resources, experience and the know-how and as a result, find a much more formidable competitive landscape that we currently do in our market expansion.</blockquote><p>I really like this whole quote, as it shows everything I like about Sea and Forrest Li. They don&#39;t take the easy road that would be easiest for the short term; they look at this from a long-term perspective. As a long-term investor, that&#39;s music to my ears. Li also doesn&#39;t deny that it&#39;s hard what Shopee tries, but he shows that Shopee has the experience of seven different countries. Many investors who don&#39;t live in Southeast Asia may see the region as one part of the world, but the reality is that all countries are entirely different. For example, Singapore is a wealthy city-state with one of the lowest corruption rates in the world (far better than the US and most European countries). On the other hand, Indonesia is a conglomerate of thousands of islands, which is much earlier in its development and has a ton of internal regional differences. And those are just two of the seven.</p><p>Shopee sees big success in Brazil. In Q4 2021, it had 140 million orders, up 400% YoY for $70M of revenue, up 326% YoY. That means that there was just $0.50 of revenue for Shopee per order, and there was a significant loss on every order, of course. The company shared in its press release that the EBITDA loss per order improved by more than 40% YoY, to below $2.00. But that still means an EBITDA loss of $280M in just a quarter. For 2022, you can expect the same thing: improving losses, but still, substantial losses. While that may sound scary, it&#39;s part of Shopee&#39;s success formula.</p><p>In just two years, Shopee Brazil managed to rank first by downloads in the shopping category and total time spent in-app and second by average monthly active users in Brazil. That&#39;s simply insane. If you see this, and you can separate yourself from your emotions about the stock price, I think you see that the potential for Sea is vast.</p><p>If you look worldwide, Shopee ranked first for downloads in the shopping category both for Q4 and for FY 2021. Shopee also ranked first globally regarding total time spent in-app for shopping on Google Play. The iPhone is primarily a Western story; outside of the US and Western Europe, Google&#39;s Android dominates the market by a gigantic market share of probably 90%, so this is very important. Shopee also ranked second worldwide on Google Play when it came to average MAUs (monthly active users) in Q4 and FY 2021.</p><p>Shopee is on track to go to nearly $100B in GMV in 2022. That means that whole families depend on the platform, both from the merchant and customer sides. That means that Shopee has pricing power, even if that will always be limited because of the competition. It can add several extra monetizable services for merchants (ads, more insights, gamification, etc.) and it could introduce some sort of Amazon (AMZN) Prime formula in the future, especially if you combine it with its two other current divisions.</p><h3>3. SeaMoney</h3><p>SeaMoney is crucial for Sea over the longer term. With revenue growth of 711% in 2021, the comps are of course hard, but Sea sees growth of 155% to $1.2B at the midpoint for the current year on top of that 711% growth. And if history is a guide, it will probably beat that guidance.</p><p>The company even expects SeaMoney to be cashflow positive by next year, showing how quickly this can scale. Of course, there are high upfront costs, and the investments will continue, but the relatively higher gross margins and flexibility promise many good things for the future. Once the banking charters Sea has obtained in several countries start to kick in more and more, this will mean even more profitability for SeaMoney.</p><p>The operating leverage also shows in the number of users. The QAUs (quarterly average users) went up 89.7%. Do you see the huge difference between user growth and revenue growth (remember 711%)? That&#39;s just the start for SeaMoney but it shows the vast potential.</p><p>One of the reasons is cross-selling, just like MercadoPago has done and is continuing to do, for example, with MercadoCredito. From Sea&#39;spress release:</p><blockquote>In Indonesia, which has the most comprehensive set of products and services among our markets, over 20% of the quarterly active users have used multiple SeaMoney products or services in the fourth quarter. We view this as a highly positive indicator of the strong efficiencies we can leverage in bringing new offerings to our large and fast-growing user base on the Shopee and SeaMoney platforms, which are both highly synergistic with one another and enjoy a strong flywheel effect in the scaling of each platform.</blockquote><p>Again, I should add that this is just the start. More and more products will be added in more and more markets. Again from the press release:</p><blockquote>We also expanded various products offerings including credit services to consumers and merchants across more markets, started offering services in digital banking and insurtech in Indonesia and obtained a bank license in the Philippines.</blockquote><p>That was new for me too. I didn&#39;t know that Sea already had a banking license in The Philippines. This is very interesting. The Philippines are another big market that is growing fast. I also didn&#39;t know that it started with insurtech in Indonesia. Sea now has banking licenses in Singapore, The Philippines and Indonesia (through the acquisition of Bank BKE) and has applied for one in Malaysia.</p><p>Shopee Brazil could launch SeaMoney (usually commercialized as ShopeePay) in a few years and other Latin American countries could follow. So there is still a ton of optionality.</p><h2>Summary of the outlook</h2><p>While some things look frightening without context, I think you should focus on what Sea is building over the long term. It has the financial power to continue to expand its reach. Yes, Garena is now back at 2020 levels, but that&#39;s not too bad. Shopee and SeaMoney have grown so fast that they can now use their scale advantages more and more. Shopee in Southeast Asia should be EBITDA positive this year already and SeaMoney next year.</p><p>Forrest Li on the conference call:</p><blockquote>As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.</blockquote><blockquote>We believe that we have the financial resources required to grow the two businesses to the inflection point without having to heavily rely on cash generated from the digital entertainment business. Of course, any additional growth from Garena will further strengthen our position.</blockquote><p>I think that this should give investors confidence. After all, Forrest Li has executed outstandingly so far; why not believe him now?</p><h2>Optionality</h2><p>The most important thing about Sea is that it still has so much optionality. Opportunities abound. Don&#39;t forget that the company has SAIL, which stands for Sea AI Labs. It spends a lot on R&amp;D there. Who knows, it may come up with a version of Upstart&#39;s AI for loans? It would definitely make sense. It could give its Shopee shoppers better recommendations, making them buy more. It could offer business software for its merchants to help them to sell better on Shopee. I&#39;m tired of the overhyped term metaverse, but with gaming, AI, shopping and an integrated payment solution, Sea seems to be fully ready when it would take off too. I&#39;m just thinking of some obvious ideas here, but there is a lot more.</p><p>There&#39;s also ShopeeFood, a food delivery service integrated into Shopee in a few markets. We probably all know that this is another very low-margin business, but if you can combine it with shopping (on Shopee) and grocery deliveries, it can be much more profitable, as Meituan has shown in China or Uber Eats shows for Uber (UBER). Just for the record, I&#39;m not a fan of Uber&#39;s business model but if there is anything good about this company its the Uber Eats division, in my opinion.</p><p>And those are just two existing divisions of Sea. The company has tried out several things in the past. It tries things out and kills them fast when they don&#39;t work. They had a sort of business communication platform at one time, a bit like Slack, but it was shut down after a few months. They launched Shopee in France, they saw it didn&#39;t work and they shut it down after just five months. That&#39;s at least as important as innovation: knowing when to stop wasting money and Sea has a good track record there as well.</p><h2>Valuation</h2><p>This is the P/S ratio of the stock since the IPO:</p><p><img src=\"https://static.tigerbbs.com/ed531584cceb657f74a305deccb360f4\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Data byYCharts</p><p>As you can see, the valuation based on the P/S ratio is now almost at its lowest point ever, despite the fact that Sea is a much better and bigger company now, which means less risk.</p><p><img src=\"https://static.tigerbbs.com/64cd0f71b428c704d7f9816e330b04bc\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Data byYCharts</p><p>If you look at Enterprise value divided by gross profit, it&#39;s even more apparent how cheap Sea has become.</p><p>If you divide Enterprise Value and Gross Profit, you see that Sea trades at an EV/GP of 12.48.</p><p>I recently used a few companies as examples in myTwilio valuation article. These numbers have changed a bit, so I have updated them.</p><p><img src=\"https://static.tigerbbs.com/2a239f0d913b7ff4356ef655615744aa\" tg-width=\"462\" tg-height=\"291\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Made by the author</p><p>Sea is expected to grow its revenue faster than all of these over the next three years. The consensus stands at 34%. I know that Sea has guided for &#39;just&#39; 32% growth next year but I think this will prove to be very conservative, as Sea usually sandbags the guidance.</p><p>EV/GP shows what a company<i>could</i>make, now or in the future. For the more mature companies, that&#39;s now, which means that their growth is slower. For younger companies like Sea, growth is still higher and you should expect profitability to only kick in later, as it&#39;s still growing fast. You want them to keep investing, but of course that growth must be sustainable. A company must have the means to fund its growth. With the cash that Garena still makes, the higher emphasis on profitability for Shopee and SeaMoney and Sea&#39;s big war chest of more than $10B, I don&#39;t think this is a problem. I believe Sea is cheap here.</p><p>Some might argue that the stock is still expensive because of the pandemic. But if we look at the pre-pandemic levels and compare to now, you see that the revenue and especially gross profit have gone up a lot more than the market cap.</p><p><img src=\"https://static.tigerbbs.com/ebf6c2d37c11d296812cb0bcd0083c68\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Data byYChartsHigher risk</p><p>There is risk in every investment and there is no denying that the uncertainties have grown recently for Sea:</p><p>* What about Garena&#39;s slowdown? Will that continue in the future?</p><p>* What about Free Fire in India?</p><p>* What about Shopee in India? Could it be targeted as well?</p><p>* What about Sea&#39;s relation with Tencent? Will it still be the preferred distributor of Tencent games in Southeast Asia after 2023?</p><p>Despite the fact that Sea has grown into my biggest position (I started buying at $54), I shouldn&#39;t be too emotional about this and acknowledge that the risks have indeed grown recently. It will probably remain my biggest position and I will keep adding to my position, especially at these low prices, but I just can&#39;t ignore the higher risks that have emerged in the last few months. But the path of every fantastic stock ever has been paved with worries. For Sea, this is no different.</p><h2>Conclusion</h2><p>Despite a good quarter, Sea&#39;s stock price keeps slumping. It&#39;s down 75% from its recent highs now. That has made the stock cheap, in my opinion, which, of course, doesn&#39;t mean it can&#39;t go down more over the short term. I&#39;ll keep scaling in slowly over time. I still strongly believe that this company will become a giant over time.</p><p>It now has as much chance, or maybe even more, to go 10x from here than when I picked it for my subscribers almost two years ago at $54. As long as it keeps executing, and these earnings again proved that, it will remain a very high conviction stock for the long term for me.</p><p><i>In the meantime, keep growing!</i></p></body></html>","source":"lsy1638401102509","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea: The 75% Crash, The Earnings And A Forecast</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea: The 75% Crash, The Earnings And A Forecast\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-14 10:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4494978-sea-the-75-percent-crash-the-earnings-and-a-forecast><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummarySea reported its Q4 and FY 2021 earnings in early March. The stock has dropped substantially since then, bringing it down 75% from its high now.We look at the numbers in full detail and look at...</p>\n\n<a href=\"https://seekingalpha.com/article/4494978-sea-the-75-percent-crash-the-earnings-and-a-forecast\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4494978-sea-the-75-percent-crash-the-earnings-and-a-forecast","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113393789","content_text":"SummarySea reported its Q4 and FY 2021 earnings in early March. The stock has dropped substantially since then, bringing it down 75% from its high now.We look at the numbers in full detail and look at several insights that we can get from the numbers. Context is extremely important here.We also look at the guidance and the future of Garena, Shopee and SeaMoney.Sea has a ton of optionality, some obvious, some less obvious.I argue why I think the stock has become cheap now from the perspective of a long-term investor.I do much more than just articles at Potential Multibaggers: Members get access to model portfolios, regular updates, a chat room, and more.kokkai/iStock Unreleased via Getty ImagesIntroductionSea's (SE) stock price has dropped a lot over the last few months and the recent Q4 and FY 2021 earnings results added to that drop, dropping 13% on the day of the earnings.Data byYChartsThe stock is now down 75% from its highs just a few months ago. And it is down ~58% year to date.Data byYChartsTo put this into a meaningful context, let's dive into the Q4 and FY 2021 earnings first, which were released on March 1. Then look at what worries investors and if to which level that is warranted or not.The results in numbersAs a group, Sea's revenue was $3.2B inQ4 2021, up 105.7% YoY, another double. Gross profit came in at $1.3B, up 145.6%. That's already important to see and therefore I want to point it out: gross profits are up more than revenue. The company has substantially higher gross profits than revenue growth, which shows that its growth leads to cost advantages, also known as operating leverage.The EBITDA, though, came in at a loss of $492.1M, while it was a positive $48.7M in Q4 2020, that strange year. We'll come back to this, but let's first look at Sea's different divisions.GarenaGarena's revenue was $1.4B, up 104.1% YoY. Bookings were $1.1B, up just 6.8% YoY. It's essential to understand the difference between these two. Bookings are the money that gamers have already paid, but that money can only be recognized as revenue when they spend it. If they pay $50 but only spend $10 in Q1 2022, there will be $10 in revenue but $50 in bookings. In that way, bookings give you a window into the future.The Garena EBITDA was $602.6M, down 10.11% YoY. That comes entirely from the margins going down from 65.5% to 55.7%. The QAUs or quarterly active users number was up 7.1% YoY. As you can see, this number is close to the 6.8% extra bookings and that's no coincidence as the two are linked closely.The QPU or quarterly paying users were up 5.6% YoY to 77.2 million. That's 11.8% of all the QUAs, while that was 12% in Q4 2020. Don't forget that Q4 was an exceptional quarter because of the pandemic, so this is still pretty good and above pre-pandemic levels. The average paying user paid $1.70, unchanged from Q4 2020.Free Fire remained the most downloaded game worldwide (for the third consecutive quarter) and ranked second when it came to monthly active users for all mobile games on Google Play for both the quarter and the full year. In Southeast Asia and Latin America, Free Fire remained the highest-grossing mobile game for the 10th consecutive quarter. Free Fire was the highest-grossing mobile battle royal game in the US for Q4 and FY 2021. All impressive achievements for a company with its first self-developed game.What these numbers clearly show is that Free Fire, which accounts for about 75% of Garena's revenue, is still (here it comes)firingon all cylinders. It's a hugely successful game, and it keeps doing well, but the difference between Q4 2021 and Q4 2020 is, of course, that kids now have to go to school or college and, therefore, simply have less time to play their favorite game. Free Fire still grows, albeit modestly, which is a substantial accomplishment, although many won't see it like that. Overall, engagement in gaming has declined, as you can also see from the results from other gaming companies and that's not strange, considering the circumstances. We come back to Garena later in this article.ShopeeShopee's revenue came in at $1.6B, up 89.4% YoY, a very strong achievement, as this is also on top of a Covid-fueled Q4 2020. $1.3B came from marketplace revenue, up 103.5% YoY, the remaining $300M from product revenue, up 48.1% YoY. Product revenue is revenue from Shopee as 1P, in other words, products the company buys and sells itself, like the original Amazon model. As you can see, the marketplace revenue grows much faster, and of course, margins have the potential to be much higher there as well.There were two billion gross orders in Q4 2021, resulting in 90.1% YoY growth, and total GMV came in at $18.2B. GMV stands for gross merchandise volume, meaning the total dollar amount of everything sold on the platform in Q4. GMV grew 52.7% YoY.It's not strange to see this grow less outspoken than gross orders if you know the context. Shopee has launched in quite a few new markets recently (India, Mexico, Argentina...), and in new markets, people always tend to buy lower-priced items to test out the service. That lowers the average ticket price of items sold. With $18.2B and two billion orders, the average item cost is just above $9, relatively low, but you should see that go up over time, as it previously did in other markets.The EBITDA for Shopee in Q4 was a loss of $877.7 million, more than doubling the EBITDA loss of 427.5M of Q4 2020. Again, this is the consequence of launching in new markets. If it launches,Shopeeinitially takes big losses because of free shipping and an extremely low take-rate (often zero) to onboard merchants. This could be another reason why investors are worried. In these times, interest rates are expected to grow. According to some banks, nine interest rate hikes areexpectedfor 2022 (which I don't see happening). Investors see this and they get scared about the big losses that Shopee brings to Sea. I'll address this worry later in the article.In Southeast Asia and Taiwan, Shopee's original market, the EBITDA loss per order was $0.15, down from $0.21 in Q4 2020. That also shows that the bigger losses don't come from there, even though orders probably went up quite significantly. Again, the bigger losses came from the new markets Shopee invests in heavily to gain market share. It does that quite successfully, I should add.SeaMoneyE-commerce platforms are not really that great when it comes to investing in them. The real value for shareholders is in the extra services built on top of them. Amazon launched Prime, MercadoLibre added MercadoPago and those are the real high-margin businesses that are interesting for the long-term investors that we are as Multis.For Sea, SeaMoney is a great opportunity. Shopee is crucial in the acquisition of customers for SeaMoney. The service is fully integrated with Shopee. While Shopee's results were outstanding, SeaMoney's results were jaw-dropping.Revenue was up 711.1% YoY to $197.5M in Q4. Of course, this was growing from a small basis, but that growth in just one year is always very impressive to see. At the same time, the EBITDA loss went down from $171.3M in last year's Q4 to $149.8M in Q4 2021. TPV (total payment volume) was up 70.1% YoY to $5B.In trouble or not?As you can guess, from the stock price drop, investors saw reasons that worried them. And a stock that is down 70% could indicate a company in trouble, right? Not so here.1. GarenaGarena is seen as the main cause of the significant stock price drop. What mostly spooked investors was that several key metrics came down QoQ:Earnings slidesEarnings slidesEarnings slides(Source:earnings call slides)Especially the QPUs were down a lot compared to Q3 2021: 20%. QAUs were down 11.5% and bookings, the most important metric as this predicts the future revenue of Garena, 9%.If you look at Activision Blizzard's (ATVI) resultsas a comparison, you see that Sea has actually done pretty well. Activision Blizzard's bookings were down 18.6% YoY already in Q4. However, it has to be said that Blizzard, the mobile gaming division, did better than the rest of the company's divisions, but still worse than Garena.So, this is not a bad performance from Garena, but an industry-wide slowdown compared to that exceptional previous year that they had. You could argue that because of its core market in Southeast Asia, Garena's slowdown was slower to kick in as the pandemic restrictions were kept in place for a longer time there.If you look at FY 2021, Garena's revenue was up 114.3% YoY to $4.3B, while bookings rose 44.3% YoY to $4.6B. For 2022, Sea projects bookings of $2.9B to $3.1B, which means 35% less than in 2021. While the adjusted EBTIDA was 60% of bookings in 2021, the current trend shows that this will probably be more between 50% and 55% going forward.This was emphasized everywhere: Garena would no longer be a cash cow to fuel Sea's growth in its two other divisions. Some called this a huge problem. I can see the cause of the concerns, but I tend to disagree that this is a thesis-changing outlook if you consider this into a broader context, if you listen carefully to what management says, and especially if you look at the long term. Let me explain.With $3B in bookings for FY 2022 and 50% EBITDA margins (both are very conservative, in my opinion), Garena would produce $1.5B in EBITDA for Sea. With $4.3B in bookings and 60% EBITDA margins, this was $2.58B in EBITDA in 2021. That's, give and take, a difference of $1.3B for one year, which is quite substantial, of course.I think in reality, the difference will be smaller, as the company always guides very conservatively and on top of that, it has excluded India for the whole year, while there might be a solution coming, especially now that the Singaporean government has put its weight behind Sea versus the Indian government, asseveral sources have reported.We still don't know why Free Fire was banned exactly. Did Garena partly use Chinese (Tencent) data centers? Seapointed out:We do not transfer to, or store any data of our Indian users in, China.Or was it the company structure, in which Tencent used to have quite some voting rights? Remarkably, Free Fire was banned just two days before Sea's General Meeting, which formalized the changes through which Tencent got less than 10% of the voting power.Despite some Tencent ownership, Sea is entirely Singaporean and the relations between India and Singapore have been very good for a very long time. They signed the CECA (Comprehensive Economic Cooperation Agreement) in 2005 and Singapore is India's 5th-largest trading partner.Forrest Li said on the conference call:We remain extremely focused on developing Garena's global platform, which we see as a key strategic asset in the long run.And in the press release:We are working on multiple prototype games across different stages through both self-development and publishing pipelines. In 2022 and beyond, we expect to expand our portfolio with more games across diverse genres such as multiplayer action, role-playing, sandbox and casual games.An analyst pressed a bit on the conference call, but Sea is not the company to announce long before. It only communicates when it can launch. But they are likely working on something new that can help Free Fire carry the burden of Garena. In 2020, it bought Phoenix Labs, the maker of Dauntless, and in 2021, it made investments in five other gaming companies. So I think they are working on something, but as is typical for the company, they only want to communicate when there is a launch date.In 2023 (I think at the end of the year, but I haven't found explicit confirmation there), the current deal with Tencent (OTCPK:TCEHY) expires. Because of that deal, signed in 2018, the company has the first right to publish all Tencent games in Southeast Asia. So maybe that deal could be extended, maybe not. In any case, I think Garena needs a second game before that, just to hedge against a less favorable or no deal anymore.Forrest Li addressed this issue and pointed out that next to developing their own games, Garena could expand their distribution deals beyond Tencent.Over the long-term, our priority remains sustaining and growing our existing major franchises, while diversifying our games portfolio. Our strong and growing self-development capabilities will be a key component of this diversification effort. Our teams are working on multiple prototype games across different genres and stages.In due course, we expect to bring more self-developed games to market. We also continue to actively acquire and invest in top talent and game IP to further expand our capabilities of both genre and geographies. Meanwhile, we will keep growing our publishing relationships, leveraging our unique set of strengths across diverse global markets.Garena is also already working on the metaverse. Forrest Li onthe conference call:Additionally, we have seen strong engagements with user-generated content through modes like Craftland, our recently introduced map editor feature. Since the launch the most popular Craftland maps have subscribed by close to 40 million users so far.We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.2. ShopeeWith a negative EBITDA of $877M in a quarter, Shopee could be a reason to worry as well, especially now that Garena will be less profitable. Shopee had a negative $0.15 EBITDA per order. With two billion orders in a quarter, that's problematic, you would think. But it's not. Shopee is the number one marketplace now in all of its Southeastern Asian markets, even Indonesia, which was confirmed in the press release (my italics).InIndonesia, where Shopee is the largest e-commerce platform, gross orders grew by around 88% year-on-year. Shopee also continued to rank first in the Shopping category by average monthly active users and total time spent in-app for the fourth quarter and for the full year of 2021, according todata.ai.That's very exciting. Indonesia is expected to be one of the top-5 economies in 2050 (after China, the US, and India). Even if that prediction proves to be too optimistic, it's still a huge country with a huge population and huge growth perspectives.Suppose the Garena projections would be accurate. $1.5B in EBITDA for Sea. That's free money, so to speak, to grow the two other businesses. Mercado Libre (MELI), Shopee's most significant competitor in LatAm, doesn't have that highly profitable division. GoTo, the company formed by Gojek and Tokopedia, the only really powerful competitor in Indonesia, doesn't have that capital either. Lazada, owned by Alibaba, has the firepower, of course, but it has had that for years and still, it lost its dominant position to Shopee over time. Shopee is the number one in all of the countries it launched in originally: Indonesia, the Philippines, Taiwan, Thailand, Malaysia, Singapore and Vietnam.Being the biggest gives Sea leverage. Would you skip to another platform for $0.15 extra on an order of probably around $15 (as that's probably the current order size in SEA by now)? That's just 1%. I know that I wouldn't.This is what Forrest Li, Sea's founder and CEO, said on the conference call:We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year.I'm not sure what 'HQ cost allocation' is precisely and that could have been made clearer. Is it a form of G&A (general and administrative costs)? I like that Sea gives us a lot of insights in their business, much more than, for example, Amazon or Google do, but this should have been made clearer to know the impact.But for the rest, this is good. In its guidance, Sea expects Shopee's revenue to grow by more than 75% in 2022 to $8.9B to $9.1B. It would be a good development if that can be profitable, or even at just a slight loss (after 'HQ cost allocation') in Shopee's core market. That means that the money that Garena still generates (and about $10B on the balance sheet) can be used to grow Shopee in Brazil and even earlier markets. From thepress release:In Brazil, where Shopee was launched in late 2019, we have already achieved strong traction with meaningful commercialization and improving efficiency.As you see, even in Brazil, the efficiency is improving, just barely two years after the launch.Investors often make projections by drawing lines. From negative EBITDA of $427M to negative $877M, a red alarm goes off in their head, signaling that this is unsustainable. And, of course, it is. But you can't just draw a line from a loss of $427M to $877M to even more losses. Bringing things to the essence is very important in investing, but it is too complicated to make it too simple.Of course, you should still expect negative EBITDA next year, as Shopee expects to continue investing heavily in Brazil. Forrest Li on the conference call:Broadly speaking Shopee LatAm and Brazil in particular, as well as R&D will be our top two focus areas for investments. Our investments and the overall impact on the bottom line is likely front-loaded as unit economics and profitability for our businesses generally improve with scale.Forrest Li has shown that he executes when he talks. It's very rare for him to pound his chest. This time, he did that a bit, though, probably to comfort his shareholders, pointing out that Shopee has already been very successful in seven very diverse markets before. Here you see why I say that he pounds his chest because of Sea's shareholders (my bold):Of course, it'd be much easier operationally for us to just focus on the seven existing core markets for Shopee. However, we strongly believe that by investing prudently and sustainably in Shopee Lat Am and Brazil in particular,we will generate significant value for our shareholders in the long run.While we do not underestimate the challenges of any new market expansion, I would also like to highlight that we have an established track record, seven times in seven highly diverse and complex markets of Southeast Asia and Taiwan, where we started in each of those markets in 2015. We have significantly net resources, experience and the know-how and as a result, find a much more formidable competitive landscape that we currently do in our market expansion.I really like this whole quote, as it shows everything I like about Sea and Forrest Li. They don't take the easy road that would be easiest for the short term; they look at this from a long-term perspective. As a long-term investor, that's music to my ears. Li also doesn't deny that it's hard what Shopee tries, but he shows that Shopee has the experience of seven different countries. Many investors who don't live in Southeast Asia may see the region as one part of the world, but the reality is that all countries are entirely different. For example, Singapore is a wealthy city-state with one of the lowest corruption rates in the world (far better than the US and most European countries). On the other hand, Indonesia is a conglomerate of thousands of islands, which is much earlier in its development and has a ton of internal regional differences. And those are just two of the seven.Shopee sees big success in Brazil. In Q4 2021, it had 140 million orders, up 400% YoY for $70M of revenue, up 326% YoY. That means that there was just $0.50 of revenue for Shopee per order, and there was a significant loss on every order, of course. The company shared in its press release that the EBITDA loss per order improved by more than 40% YoY, to below $2.00. But that still means an EBITDA loss of $280M in just a quarter. For 2022, you can expect the same thing: improving losses, but still, substantial losses. While that may sound scary, it's part of Shopee's success formula.In just two years, Shopee Brazil managed to rank first by downloads in the shopping category and total time spent in-app and second by average monthly active users in Brazil. That's simply insane. If you see this, and you can separate yourself from your emotions about the stock price, I think you see that the potential for Sea is vast.If you look worldwide, Shopee ranked first for downloads in the shopping category both for Q4 and for FY 2021. Shopee also ranked first globally regarding total time spent in-app for shopping on Google Play. The iPhone is primarily a Western story; outside of the US and Western Europe, Google's Android dominates the market by a gigantic market share of probably 90%, so this is very important. Shopee also ranked second worldwide on Google Play when it came to average MAUs (monthly active users) in Q4 and FY 2021.Shopee is on track to go to nearly $100B in GMV in 2022. That means that whole families depend on the platform, both from the merchant and customer sides. That means that Shopee has pricing power, even if that will always be limited because of the competition. It can add several extra monetizable services for merchants (ads, more insights, gamification, etc.) and it could introduce some sort of Amazon (AMZN) Prime formula in the future, especially if you combine it with its two other current divisions.3. SeaMoneySeaMoney is crucial for Sea over the longer term. With revenue growth of 711% in 2021, the comps are of course hard, but Sea sees growth of 155% to $1.2B at the midpoint for the current year on top of that 711% growth. And if history is a guide, it will probably beat that guidance.The company even expects SeaMoney to be cashflow positive by next year, showing how quickly this can scale. Of course, there are high upfront costs, and the investments will continue, but the relatively higher gross margins and flexibility promise many good things for the future. Once the banking charters Sea has obtained in several countries start to kick in more and more, this will mean even more profitability for SeaMoney.The operating leverage also shows in the number of users. The QAUs (quarterly average users) went up 89.7%. Do you see the huge difference between user growth and revenue growth (remember 711%)? That's just the start for SeaMoney but it shows the vast potential.One of the reasons is cross-selling, just like MercadoPago has done and is continuing to do, for example, with MercadoCredito. From Sea'spress release:In Indonesia, which has the most comprehensive set of products and services among our markets, over 20% of the quarterly active users have used multiple SeaMoney products or services in the fourth quarter. We view this as a highly positive indicator of the strong efficiencies we can leverage in bringing new offerings to our large and fast-growing user base on the Shopee and SeaMoney platforms, which are both highly synergistic with one another and enjoy a strong flywheel effect in the scaling of each platform.Again, I should add that this is just the start. More and more products will be added in more and more markets. Again from the press release:We also expanded various products offerings including credit services to consumers and merchants across more markets, started offering services in digital banking and insurtech in Indonesia and obtained a bank license in the Philippines.That was new for me too. I didn't know that Sea already had a banking license in The Philippines. This is very interesting. The Philippines are another big market that is growing fast. I also didn't know that it started with insurtech in Indonesia. Sea now has banking licenses in Singapore, The Philippines and Indonesia (through the acquisition of Bank BKE) and has applied for one in Malaysia.Shopee Brazil could launch SeaMoney (usually commercialized as ShopeePay) in a few years and other Latin American countries could follow. So there is still a ton of optionality.Summary of the outlookWhile some things look frightening without context, I think you should focus on what Sea is building over the long term. It has the financial power to continue to expand its reach. Yes, Garena is now back at 2020 levels, but that's not too bad. Shopee and SeaMoney have grown so fast that they can now use their scale advantages more and more. Shopee in Southeast Asia should be EBITDA positive this year already and SeaMoney next year.Forrest Li on the conference call:As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.We believe that we have the financial resources required to grow the two businesses to the inflection point without having to heavily rely on cash generated from the digital entertainment business. Of course, any additional growth from Garena will further strengthen our position.I think that this should give investors confidence. After all, Forrest Li has executed outstandingly so far; why not believe him now?OptionalityThe most important thing about Sea is that it still has so much optionality. Opportunities abound. Don't forget that the company has SAIL, which stands for Sea AI Labs. It spends a lot on R&D there. Who knows, it may come up with a version of Upstart's AI for loans? It would definitely make sense. It could give its Shopee shoppers better recommendations, making them buy more. It could offer business software for its merchants to help them to sell better on Shopee. I'm tired of the overhyped term metaverse, but with gaming, AI, shopping and an integrated payment solution, Sea seems to be fully ready when it would take off too. I'm just thinking of some obvious ideas here, but there is a lot more.There's also ShopeeFood, a food delivery service integrated into Shopee in a few markets. We probably all know that this is another very low-margin business, but if you can combine it with shopping (on Shopee) and grocery deliveries, it can be much more profitable, as Meituan has shown in China or Uber Eats shows for Uber (UBER). Just for the record, I'm not a fan of Uber's business model but if there is anything good about this company its the Uber Eats division, in my opinion.And those are just two existing divisions of Sea. The company has tried out several things in the past. It tries things out and kills them fast when they don't work. They had a sort of business communication platform at one time, a bit like Slack, but it was shut down after a few months. They launched Shopee in France, they saw it didn't work and they shut it down after just five months. That's at least as important as innovation: knowing when to stop wasting money and Sea has a good track record there as well.ValuationThis is the P/S ratio of the stock since the IPO:Data byYChartsAs you can see, the valuation based on the P/S ratio is now almost at its lowest point ever, despite the fact that Sea is a much better and bigger company now, which means less risk.Data byYChartsIf you look at Enterprise value divided by gross profit, it's even more apparent how cheap Sea has become.If you divide Enterprise Value and Gross Profit, you see that Sea trades at an EV/GP of 12.48.I recently used a few companies as examples in myTwilio valuation article. These numbers have changed a bit, so I have updated them.Made by the authorSea is expected to grow its revenue faster than all of these over the next three years. The consensus stands at 34%. I know that Sea has guided for 'just' 32% growth next year but I think this will prove to be very conservative, as Sea usually sandbags the guidance.EV/GP shows what a companycouldmake, now or in the future. For the more mature companies, that's now, which means that their growth is slower. For younger companies like Sea, growth is still higher and you should expect profitability to only kick in later, as it's still growing fast. You want them to keep investing, but of course that growth must be sustainable. A company must have the means to fund its growth. With the cash that Garena still makes, the higher emphasis on profitability for Shopee and SeaMoney and Sea's big war chest of more than $10B, I don't think this is a problem. I believe Sea is cheap here.Some might argue that the stock is still expensive because of the pandemic. But if we look at the pre-pandemic levels and compare to now, you see that the revenue and especially gross profit have gone up a lot more than the market cap.Data byYChartsHigher riskThere is risk in every investment and there is no denying that the uncertainties have grown recently for Sea:* What about Garena's slowdown? Will that continue in the future?* What about Free Fire in India?* What about Shopee in India? Could it be targeted as well?* What about Sea's relation with Tencent? Will it still be the preferred distributor of Tencent games in Southeast Asia after 2023?Despite the fact that Sea has grown into my biggest position (I started buying at $54), I shouldn't be too emotional about this and acknowledge that the risks have indeed grown recently. It will probably remain my biggest position and I will keep adding to my position, especially at these low prices, but I just can't ignore the higher risks that have emerged in the last few months. But the path of every fantastic stock ever has been paved with worries. For Sea, this is no different.ConclusionDespite a good quarter, Sea's stock price keeps slumping. It's down 75% from its recent highs now. That has made the stock cheap, in my opinion, which, of course, doesn't mean it can't go down more over the short term. I'll keep scaling in slowly over time. I still strongly believe that this company will become a giant over time.It now has as much chance, or maybe even more, to go 10x from here than when I picked it for my subscribers almost two years ago at $54. As long as it keeps executing, and these earnings again proved that, it will remain a very high conviction stock for the long term for me.In the meantime, keep growing!","news_type":1},"isVote":1,"tweetType":1,"viewCount":434,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9031547824,"gmtCreate":1646624754467,"gmtModify":1676534144774,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"a solid buy","listText":"a solid buy","text":"a solid buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9031547824","repostId":"2214759299","repostType":2,"isVote":1,"tweetType":1,"viewCount":390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039272223,"gmtCreate":1646062814892,"gmtModify":1676534087068,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like for good luck! 🍀","listText":"give a like for good luck! 🍀","text":"give a like for good luck! 🍀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039272223","repostId":"1132135264","repostType":4,"repost":{"id":"1132135264","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1646059871,"share":"https://www.laohu8.com/m/news/1132135264?lang=&edition=full","pubTime":"2022-02-28 22:51","market":"us","language":"en","title":"Sea Limited Shares Gained Nearly 5% in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1132135264","media":"Tiger Newspress","summary":"Sea Limited shares gained nearly 5% in morning trading.Sea Limited is set to release fourth-quarter ","content":"<html><head></head><body><p>Sea Limited shares gained nearly 5% in morning trading.</p><p><img src=\"https://static.tigerbbs.com/8e4e89729abc3b35ab18cd8bb0bcdc2e\" tg-width=\"843\" tg-height=\"618\" referrerpolicy=\"no-referrer\"/></p><p><b>Sea Limited</b> is set to release fourth-quarter 2021 results on Mar 1.</p><p>The Zacks Consensus Estimate for loss has widened by 3 cents to 94 cents per share over the past 30 days. Sea Limited reported a loss of 87 cents per share in the year-ago quarter.</p><p>The consensus mark for revenues is currently pegged at $2.97 billion, indicating 47.96% growth from the year-ago quarter’s reported figure.</p><p>The company’s earnings missed the Zacks Consensus Estimate in all of the trailing four quarters, the negative earnings surprise being 56.04%.</p><p>Let’s see how things have shaped up before this announcement.</p><p><b>Factors at Play for Q4 Results</b></p><p>Sea Limited&#39;s digital entertainment (Garena) and e-commerce businesses are expected to continue to capitalize on changing consumer behavior in the fourth quarter.</p><p>Garena is likely to have benefited from the continued popularity of Free Fireamid stiff competition from<b>Tencent</b>TCEHY.</p><p>Per SensorTowerdata, in google play, Free Firewas the second most revenue-generating game worldwide in December 2021, beating Tencent&#39;s PUBG Mobile. Free Fire was also the highest-grossing game in October 2021.</p><p>The company&#39;s e-commerce segment is likely to have gained traction from a strong uptick in Shopee, its online shopping platform. Additionally, SeaMoney&#39;s strengthening integration with Shopee is expected to have aided Sea&#39;s digital financial services business.</p><p>Higher expenses related to the expansion of e-commerce services and continued efforts to integrate the company&#39;s mobile wallet services with the Shopee platform across different markets are expected to have negatively impacted profitability in the to-be-reported quarter.</p><p><b>What Our Model Indicates</b></p><p>Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that&#39;s not the case here.</p><p>Sea Limited has an Earnings ESP of -6.95% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they&#39;re reported with our Earnings ESP Filter.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited Shares Gained Nearly 5% in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited Shares Gained Nearly 5% in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-28 22:51</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Sea Limited shares gained nearly 5% in morning trading.</p><p><img src=\"https://static.tigerbbs.com/8e4e89729abc3b35ab18cd8bb0bcdc2e\" tg-width=\"843\" tg-height=\"618\" referrerpolicy=\"no-referrer\"/></p><p><b>Sea Limited</b> is set to release fourth-quarter 2021 results on Mar 1.</p><p>The Zacks Consensus Estimate for loss has widened by 3 cents to 94 cents per share over the past 30 days. Sea Limited reported a loss of 87 cents per share in the year-ago quarter.</p><p>The consensus mark for revenues is currently pegged at $2.97 billion, indicating 47.96% growth from the year-ago quarter’s reported figure.</p><p>The company’s earnings missed the Zacks Consensus Estimate in all of the trailing four quarters, the negative earnings surprise being 56.04%.</p><p>Let’s see how things have shaped up before this announcement.</p><p><b>Factors at Play for Q4 Results</b></p><p>Sea Limited&#39;s digital entertainment (Garena) and e-commerce businesses are expected to continue to capitalize on changing consumer behavior in the fourth quarter.</p><p>Garena is likely to have benefited from the continued popularity of Free Fireamid stiff competition from<b>Tencent</b>TCEHY.</p><p>Per SensorTowerdata, in google play, Free Firewas the second most revenue-generating game worldwide in December 2021, beating Tencent&#39;s PUBG Mobile. Free Fire was also the highest-grossing game in October 2021.</p><p>The company&#39;s e-commerce segment is likely to have gained traction from a strong uptick in Shopee, its online shopping platform. Additionally, SeaMoney&#39;s strengthening integration with Shopee is expected to have aided Sea&#39;s digital financial services business.</p><p>Higher expenses related to the expansion of e-commerce services and continued efforts to integrate the company&#39;s mobile wallet services with the Shopee platform across different markets are expected to have negatively impacted profitability in the to-be-reported quarter.</p><p><b>What Our Model Indicates</b></p><p>Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that&#39;s not the case here.</p><p>Sea Limited has an Earnings ESP of -6.95% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they&#39;re reported with our Earnings ESP Filter.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132135264","content_text":"Sea Limited shares gained nearly 5% in morning trading.Sea Limited is set to release fourth-quarter 2021 results on Mar 1.The Zacks Consensus Estimate for loss has widened by 3 cents to 94 cents per share over the past 30 days. Sea Limited reported a loss of 87 cents per share in the year-ago quarter.The consensus mark for revenues is currently pegged at $2.97 billion, indicating 47.96% growth from the year-ago quarter’s reported figure.The company’s earnings missed the Zacks Consensus Estimate in all of the trailing four quarters, the negative earnings surprise being 56.04%.Let’s see how things have shaped up before this announcement.Factors at Play for Q4 ResultsSea Limited's digital entertainment (Garena) and e-commerce businesses are expected to continue to capitalize on changing consumer behavior in the fourth quarter.Garena is likely to have benefited from the continued popularity of Free Fireamid stiff competition fromTencentTCEHY.Per SensorTowerdata, in google play, Free Firewas the second most revenue-generating game worldwide in December 2021, beating Tencent's PUBG Mobile. Free Fire was also the highest-grossing game in October 2021.The company's e-commerce segment is likely to have gained traction from a strong uptick in Shopee, its online shopping platform. Additionally, SeaMoney's strengthening integration with Shopee is expected to have aided Sea's digital financial services business.Higher expenses related to the expansion of e-commerce services and continued efforts to integrate the company's mobile wallet services with the Shopee platform across different markets are expected to have negatively impacted profitability in the to-be-reported quarter.What Our Model IndicatesPer the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that's not the case here.Sea Limited has an Earnings ESP of -6.95% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9094544039,"gmtCreate":1645194853862,"gmtModify":1676534007737,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$</a>!!","listText":"<a href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$</a>!!","text":"$Sea Ltd(SE)$!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094544039","repostId":"2212626136","repostType":4,"repost":{"id":"2212626136","pubTimestamp":1645198200,"share":"https://www.laohu8.com/m/news/2212626136?lang=&edition=full","pubTime":"2022-02-18 23:30","market":"us","language":"en","title":"3 Unstoppable Stocks to Buy at Unbelievable Bargains","url":"https://stock-news.laohu8.com/highlight/detail?id=2212626136","media":"Motley Fool","summary":"These stocks have tremendous growth prospects that make their current valuations look really attractive.","content":"<html><head></head><body><p>Many growth stocks have tanked. That&#39;s bad news for short-term traders who bought the stocks hoping to make a quick profit. However, it could be great news for long-term investors.</p><p>Note my use of the word &#34;could.&#34; Not every former high-flying stock is a smart pick even at a lower price tag. Several of them are, though. Here are three unstoppable stocks to buy right now at unbelievable bargains.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3c3b71a652677a66fe10fb151d7fc950\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"/><span>Image source: Getty Images.</span></p><h2>1. Teladoc Health</h2><p><b>Teladoc Health</b> (NYSE:TDOC) has lost three-fourths of its market cap over the past 12 months. Sure, the stock got ahead of itself after a pandemic-related surge in 2020. However, Teladoc&#39;s growth prospects make it worth a lot more than its current market cap of under $12 billion, in my view.</p><p>Some might question whether or not Teladoc can win in a post-pandemic world. I think the answer is a resounding yes. Virtual care is both cost-effective for payers and convenient for patients. That&#39;s a compelling value proposition.</p><p>Teladoc also holds multiple competitive advantages over rivals. It offers the broadest array of services in the industry, notably including a chronic disease management platform. The company ranks No. 1 in customer satisfaction. And Teladoc boasts the biggest client base by far, including more than half of the Fortune 500.</p><p>The company could nearly double its covered lives simply by gaining new members within existing clients. It could grow even more by increasing multi-product penetration within current customers. Adding new clients -- which Teladoc continues to do at a robust rate -- is the cherry on top.</p><p>Teladoc estimates its total addressable market stands at $268 billion in the U.S. alone. To put that into context, Wall Street expects the company to generate around $2.6 billion in revenue this year. Unstoppable stock at an unbelievable price? Yep.</p><h2>2. <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</h2><p><b>PayPal Holdings</b> (NASDAQ:PYPL) shares have fallen more than 60% below their 52-week high. While much of that decline came in the second half of last year, the fintech stock also plunged earlier this month after providing disappointing guidance for 2022.</p><p>It&#39;s important to delve into the details behind the stock&#39;s drop. In particular, PayPal&#39;s lower-than-expected customer account growth for this year isn&#39;t a sign of impending doom. Instead, the company is shifting to a model of growing revenue per user rather than emphasizing expanding the total customer base. That&#39;s a move that investors should applaud because it will drive higher profitability.</p><p>PayPal&#39;s long-term prospects remain exceptionally strong. Its growth drivers include increased e-commerce penetration, buy now, pay later programs, in-store QR code payments, and the Venmo digital wallet. There&#39;s arguably no company in as strong of a position to benefit from the shift to digital payments as PayPal.</p><p>Is the stock really an unbelievable bargain, though? Probably not if you only look at current valuation metrics. However, when you compare PayPal&#39;s market cap of $131 billion against the $110 <i>trillion</i> market opportunity, it&#39;s a different story altogether.</p><h2>3. Sea Limited</h2><p>Like PayPal, <b>Sea Limited</b> (NYSE:SE) has seen its stock price sink more than 60% from peak levels. Nearly all of this decline has come over the past three months.</p><p>Concerns about rising interest rates have hurt many growth stocks, including Sea. But the company also faces a more immediate worry: India is reportedly banning Sea&#39;s top-selling <i>Free Fire</i> mobile game. Although Sea currently generates less than 3% of its gaming revenue in India, the country is potentially a big growth market for the company.</p><p>However, Sea has plenty of other avenues for growth -- both from a geographic and product standpoint. The company continues to enjoy strong momentum in Southeast Asia and Latin America. Its e-commerce and digital payments units are also key growth drivers in addition to its gaming business.</p><p>As was the case with PayPal, Sea Limited might not seem to be cheap based on commonly used valuation metrics. However, the company is a contender in three fast-growing markets (gaming, e-commerce, and digital payments). Sea&#39;s opportunity makes its current market cap of $80 billion look quite attractive.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Unstoppable Stocks to Buy at Unbelievable Bargains</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Unstoppable Stocks to Buy at Unbelievable Bargains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-18 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/02/18/3-unstoppable-stocks-to-buy-at-unbelievable-bargai/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Many growth stocks have tanked. That's bad news for short-term traders who bought the stocks hoping to make a quick profit. However, it could be great news for long-term investors.Note my use of the ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/02/18/3-unstoppable-stocks-to-buy-at-unbelievable-bargai/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal","BK4534":"瑞士信贷持仓","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4524":"宅经济概念","BK4167":"医疗保健技术","BK4535":"淡马锡持仓","BK4527":"明星科技股","SE":"Sea Ltd","BK4526":"热门中概股","BK4503":"景林资产持仓","BK4551":"寇图资本持仓","BK4505":"高瓴资本持仓","BK4085":"互动家庭娱乐","BK4504":"桥水持仓","BK4548":"巴美列捷福持仓","TDOC":"Teladoc Health Inc.","BGNE":"百济神州","BK4106":"数据处理与外包服务","BK4554":"元宇宙及AR概念","BK4567":"ESG概念"},"source_url":"https://www.fool.com/investing/2022/02/18/3-unstoppable-stocks-to-buy-at-unbelievable-bargai/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2212626136","content_text":"Many growth stocks have tanked. That's bad news for short-term traders who bought the stocks hoping to make a quick profit. However, it could be great news for long-term investors.Note my use of the word \"could.\" Not every former high-flying stock is a smart pick even at a lower price tag. Several of them are, though. Here are three unstoppable stocks to buy right now at unbelievable bargains.Image source: Getty Images.1. Teladoc HealthTeladoc Health (NYSE:TDOC) has lost three-fourths of its market cap over the past 12 months. Sure, the stock got ahead of itself after a pandemic-related surge in 2020. However, Teladoc's growth prospects make it worth a lot more than its current market cap of under $12 billion, in my view.Some might question whether or not Teladoc can win in a post-pandemic world. I think the answer is a resounding yes. Virtual care is both cost-effective for payers and convenient for patients. That's a compelling value proposition.Teladoc also holds multiple competitive advantages over rivals. It offers the broadest array of services in the industry, notably including a chronic disease management platform. The company ranks No. 1 in customer satisfaction. And Teladoc boasts the biggest client base by far, including more than half of the Fortune 500.The company could nearly double its covered lives simply by gaining new members within existing clients. It could grow even more by increasing multi-product penetration within current customers. Adding new clients -- which Teladoc continues to do at a robust rate -- is the cherry on top.Teladoc estimates its total addressable market stands at $268 billion in the U.S. alone. To put that into context, Wall Street expects the company to generate around $2.6 billion in revenue this year. Unstoppable stock at an unbelievable price? Yep.2. PayPal HoldingsPayPal Holdings (NASDAQ:PYPL) shares have fallen more than 60% below their 52-week high. While much of that decline came in the second half of last year, the fintech stock also plunged earlier this month after providing disappointing guidance for 2022.It's important to delve into the details behind the stock's drop. In particular, PayPal's lower-than-expected customer account growth for this year isn't a sign of impending doom. Instead, the company is shifting to a model of growing revenue per user rather than emphasizing expanding the total customer base. That's a move that investors should applaud because it will drive higher profitability.PayPal's long-term prospects remain exceptionally strong. Its growth drivers include increased e-commerce penetration, buy now, pay later programs, in-store QR code payments, and the Venmo digital wallet. There's arguably no company in as strong of a position to benefit from the shift to digital payments as PayPal.Is the stock really an unbelievable bargain, though? Probably not if you only look at current valuation metrics. However, when you compare PayPal's market cap of $131 billion against the $110 trillion market opportunity, it's a different story altogether.3. Sea LimitedLike PayPal, Sea Limited (NYSE:SE) has seen its stock price sink more than 60% from peak levels. Nearly all of this decline has come over the past three months.Concerns about rising interest rates have hurt many growth stocks, including Sea. But the company also faces a more immediate worry: India is reportedly banning Sea's top-selling Free Fire mobile game. Although Sea currently generates less than 3% of its gaming revenue in India, the country is potentially a big growth market for the company.However, Sea has plenty of other avenues for growth -- both from a geographic and product standpoint. The company continues to enjoy strong momentum in Southeast Asia and Latin America. Its e-commerce and digital payments units are also key growth drivers in addition to its gaming business.As was the case with PayPal, Sea Limited might not seem to be cheap based on commonly used valuation metrics. However, the company is a contender in three fast-growing markets (gaming, e-commerce, and digital payments). Sea's opportunity makes its current market cap of $80 billion look quite attractive.","news_type":1},"isVote":1,"tweetType":1,"viewCount":391,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9098458445,"gmtCreate":1644210753968,"gmtModify":1676533900163,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"some Warren Wisdom for today ✌🏼&nbsp;","listText":"some Warren Wisdom for today ✌🏼&nbsp;","text":"some Warren Wisdom for today ✌🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9098458445","repostId":"1146722522","repostType":4,"repost":{"id":"1146722522","pubTimestamp":1644203764,"share":"https://www.laohu8.com/m/news/1146722522?lang=&edition=full","pubTime":"2022-02-07 11:16","market":"us","language":"en","title":"Warren Buffett has called choppy markets a 'huge plus' for investors — and touted stocks as safer than cash or bonds over time.","url":"https://stock-news.laohu8.com/highlight/detail?id=1146722522","media":"Business Insider","summary":"Warren Buffett enjoys volatile markets as they result in more buying opportunities.The Berkshire Hathaway CEO dismisses the idea that volatility represents risk.Stocks are more volatile than cash or b","content":"<html><head></head><body><ul><li>Warren Buffett enjoys volatile markets as they result in more buying opportunities.</li><li>The Berkshire Hathaway CEO dismisses the idea that volatility represents risk.</li><li>Stocks are more volatile than cash or bonds, but they&#39;re safer to own in the long run, Buffett says.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f4f9f5e96d1373d1e0f54a9e776dc5ec\" tg-width=\"1300\" tg-height=\"650\" width=\"100%\" height=\"auto\"/><span>Warren Buffett.</span></p><p>Warren Buffett welcomes volatile markets as they serve up bargains, and near-term price moves don&#39;t affect his long-term returns.</p><p>The billionaire investor and Berkshire Hathaway CEO has argued that owning stocks is safer than holding cash or bonds in the long run, even though share prices move a lot more. He&#39;s also ridiculed the use of volatility as a measure of risk.</p><p>Here are 8 of Buffett&#39;s best quotes about volatility, lightly edited for length and clarity:</p><p>1. &#34;As an investor, you love volatility. You love the idea of wild swings because it means more things are going to get mispriced.&#34; (1997)</p><p>2. &#34;The true investor welcomes volatility. A wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses. It is impossible to see how the availability of such prices can be thought of as increasing the hazards for an investor who is totally free to either ignore the market or exploit its folly.&#34; (1993)</p><p>3. &#34;It doesn&#39;t make any difference to us whether the volatility of the stock market averages 0.5% a day or 0.25% a day or 5% a day. In fact, we&#39;d make a lot more money if volatility was higher, because it would create more mistakes in the market. So volatility is a huge plus to the real investor.&#34; (1997)</p><p>4. &#34;Erratic markets are ideal for any investor — small or large — so long as he sticks to his investment knitting. Volatility caused by money managers who speculate irrationally with huge sums will offer the true investor more chances to make intelligent investment moves. He can be hurt by such volatility only if he is forced, by either financial or psychological pressures, to sell at untoward times.&#34; (1987)</p><p>5. &#34;If the investor fears price volatility, erroneously viewing it as a measure of risk, he may, ironically, end up doing some very risky things.&#34; (Buffett argued that holding currency-denominated assets such as cash or Treasury bonds, which have their value eroded by inflation over time, is riskier than owning stocks for the long term.) (2014)</p><p>6. &#34;No one ever gets that in a private business, where daily you get a buy-sell offer by a party. But in the stock market you get it. That&#39;s a huge advantage. And it&#39;s a bigger advantage if this partner of yours is a heavy-drinking manic depressive. The crazier he is, the more money you&#39;re going to make.&#34; (Buffett was referring to his mentor Benjamin Graham&#39;s allegory of Mr. Market, a character offering to buy from or sell to investors at a different price each day.) (1997)</p><p>7. &#34;We regard volatility as a measure of risk to be nuts.&#34; (Buffett said short-term price movements are meaningless and pose no threat to a long-term investor, whereas active trading, paying excessive fees, and borrowing money are real ways to damage future returns). (2001)</p><p>8. &#34;The riskiness of an investment is not measured by beta (a Wall Street term encompassing volatility and often used in measuring risk) but rather by the probability of that investment causing its owner a loss of purchasing power over his contemplated holding period. Assets can fluctuate greatly in price and not be risky as long as they are reasonably certain to deliver increased purchasing power over their holding period.&#34; (2011)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett has called choppy markets a 'huge plus' for investors — and touted stocks as safer than cash or bonds over time.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett has called choppy markets a 'huge plus' for investors — and touted stocks as safer than cash or bonds over time.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-07 11:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-investing-stock-market-volatility-cash-bonds-2022-2><strong>Business Insider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett enjoys volatile markets as they result in more buying opportunities.The Berkshire Hathaway CEO dismisses the idea that volatility represents risk.Stocks are more volatile than cash or ...</p>\n\n<a href=\"https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-investing-stock-market-volatility-cash-bonds-2022-2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-investing-stock-market-volatility-cash-bonds-2022-2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146722522","content_text":"Warren Buffett enjoys volatile markets as they result in more buying opportunities.The Berkshire Hathaway CEO dismisses the idea that volatility represents risk.Stocks are more volatile than cash or bonds, but they're safer to own in the long run, Buffett says.Warren Buffett.Warren Buffett welcomes volatile markets as they serve up bargains, and near-term price moves don't affect his long-term returns.The billionaire investor and Berkshire Hathaway CEO has argued that owning stocks is safer than holding cash or bonds in the long run, even though share prices move a lot more. He's also ridiculed the use of volatility as a measure of risk.Here are 8 of Buffett's best quotes about volatility, lightly edited for length and clarity:1. \"As an investor, you love volatility. You love the idea of wild swings because it means more things are going to get mispriced.\" (1997)2. \"The true investor welcomes volatility. A wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses. It is impossible to see how the availability of such prices can be thought of as increasing the hazards for an investor who is totally free to either ignore the market or exploit its folly.\" (1993)3. \"It doesn't make any difference to us whether the volatility of the stock market averages 0.5% a day or 0.25% a day or 5% a day. In fact, we'd make a lot more money if volatility was higher, because it would create more mistakes in the market. So volatility is a huge plus to the real investor.\" (1997)4. \"Erratic markets are ideal for any investor — small or large — so long as he sticks to his investment knitting. Volatility caused by money managers who speculate irrationally with huge sums will offer the true investor more chances to make intelligent investment moves. He can be hurt by such volatility only if he is forced, by either financial or psychological pressures, to sell at untoward times.\" (1987)5. \"If the investor fears price volatility, erroneously viewing it as a measure of risk, he may, ironically, end up doing some very risky things.\" (Buffett argued that holding currency-denominated assets such as cash or Treasury bonds, which have their value eroded by inflation over time, is riskier than owning stocks for the long term.) (2014)6. \"No one ever gets that in a private business, where daily you get a buy-sell offer by a party. But in the stock market you get it. That's a huge advantage. And it's a bigger advantage if this partner of yours is a heavy-drinking manic depressive. The crazier he is, the more money you're going to make.\" (Buffett was referring to his mentor Benjamin Graham's allegory of Mr. Market, a character offering to buy from or sell to investors at a different price each day.) (1997)7. \"We regard volatility as a measure of risk to be nuts.\" (Buffett said short-term price movements are meaningless and pose no threat to a long-term investor, whereas active trading, paying excessive fees, and borrowing money are real ways to damage future returns). (2001)8. \"The riskiness of an investment is not measured by beta (a Wall Street term encompassing volatility and often used in measuring risk) but rather by the probability of that investment causing its owner a loss of purchasing power over his contemplated holding period. Assets can fluctuate greatly in price and not be risky as long as they are reasonably certain to deliver increased purchasing power over their holding period.\" (2011)","news_type":1},"isVote":1,"tweetType":1,"viewCount":504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007751408,"gmtCreate":1643019167738,"gmtModify":1676533765328,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"is it time to roll up our sleeves again? [Thinking]&nbsp;","listText":"is it time to roll up our sleeves again? [Thinking]&nbsp;","text":"is it time to roll up our sleeves again? [Thinking]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007751408","repostId":"1147063567","repostType":4,"repost":{"id":"1147063567","pubTimestamp":1643012831,"share":"https://www.laohu8.com/m/news/1147063567?lang=&edition=full","pubTime":"2022-01-24 16:27","market":"us","language":"en","title":"Fourth COVID-19 Vaccine Dose Increases Resistance against Infection in People over 60: Israeli Study","url":"https://stock-news.laohu8.com/highlight/detail?id=1147063567","media":"Seeking Alpha","summary":"Israel's Health Ministry said that a fourth dose of COVID-19 vaccine given to people over 60 in the ","content":"<html><head></head><body><ul><li>Israel&#39;s Health Ministry said that a fourth dose of COVID-19 vaccine given to people over 60 in the country made them three times more resistant to serious illness than thrice-vaccinated people in the same age group, <i>Reuters reports</i>.</li><li>The ministry also said the fourth dose, or second booster, made people over 60 twice as resistant to infection than those in the age group who received three shots of the vaccine.</li><li>The ministry conducted study with several major Israeli universities and the Sheba centre which compared 400,000 people over 60 who received the second booster with 600,000 people in the age group who were given a third shot more than four months ago.</li><li>Israel began offering a fourth dose of the Pfizer(NYSE:PFE)/ BioNtech(NASDAQ:BNTX)vaccine to people over 60 earlier this month.</li><li>Last week, an Israeli study found out that the fourth shot increases antibodies to higher levels than the third but it isnot enough to prevent Omicron infections.</li></ul></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fourth COVID-19 Vaccine Dose Increases Resistance against Infection in People over 60: Israeli Study</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFourth COVID-19 Vaccine Dose Increases Resistance against Infection in People over 60: Israeli Study\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-24 16:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3790516-fourth-covid-19-vaccine-dose-increases-resistance-against-infection-in-people-over-60-israeli-study><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Israel's Health Ministry said that a fourth dose of COVID-19 vaccine given to people over 60 in the country made them three times more resistant to serious illness than thrice-vaccinated people in the...</p>\n\n<a href=\"https://seekingalpha.com/news/3790516-fourth-covid-19-vaccine-dose-increases-resistance-against-infection-in-people-over-60-israeli-study\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BNTX":"BioNTech SE","PFE":"辉瑞"},"source_url":"https://seekingalpha.com/news/3790516-fourth-covid-19-vaccine-dose-increases-resistance-against-infection-in-people-over-60-israeli-study","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147063567","content_text":"Israel's Health Ministry said that a fourth dose of COVID-19 vaccine given to people over 60 in the country made them three times more resistant to serious illness than thrice-vaccinated people in the same age group, Reuters reports.The ministry also said the fourth dose, or second booster, made people over 60 twice as resistant to infection than those in the age group who received three shots of the vaccine.The ministry conducted study with several major Israeli universities and the Sheba centre which compared 400,000 people over 60 who received the second booster with 600,000 people in the age group who were given a third shot more than four months ago.Israel began offering a fourth dose of the Pfizer(NYSE:PFE)/ BioNtech(NASDAQ:BNTX)vaccine to people over 60 earlier this month.Last week, an Israeli study found out that the fourth shot increases antibodies to higher levels than the third but it isnot enough to prevent Omicron infections.","news_type":1},"isVote":1,"tweetType":1,"viewCount":681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9004008691,"gmtCreate":1642432216998,"gmtModify":1676533710294,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"short term volatility is not a problem for longterm winners!","listText":"short term volatility is not a problem for longterm winners!","text":"short term volatility is not a problem for longterm winners!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9004008691","repostId":"2204775898","repostType":4,"repost":{"id":"2204775898","pubTimestamp":1642420611,"share":"https://www.laohu8.com/m/news/2204775898?lang=&edition=full","pubTime":"2022-01-17 19:56","market":"us","language":"en","title":"3 Stocks I'm Buying During a Tech Stock Correction","url":"https://stock-news.laohu8.com/highlight/detail?id=2204775898","media":"Motley Fool","summary":"A sell-off is a good opportunity to buy shares of these three companies.","content":"<html><head></head><body><p>Tech stocks have gotten off to a rough start this year. For instance, the tech-heavy <b>Nasdaq Composite</b> index is down 5% so far.</p><p>If this continues into full-blown correction territory, widely considered a 10% decline, investors can pick up certain tech stocks at good valuations. That&#39;s because a broad sell-off affects most stocks, even those of high-quality companies. Fortunately, these three companies have strong long-term earnings prospects, making them ideal candidates for buy-and-hold investors.</p><h4><b>1.<a href=\"https://laohu8.com/S/GOOG\">Alphabet </a></b></h4><p><a href=\"https://laohu8.com/S/GOOG\"><b>Alphabet</b> </a> is so much more than a search engine. Its products also include Android, Chrome, Google Maps, YouTube, and Google Cloud. In other words, very popular offerings that drive advertising revenue and user fees.</p><p>Fortunately, management continues to push the company forward, allowing it to evolve rather than grow stale like many other tech companies. For example, Alphabet continues to improve its search engine. Instead of typing a query into a simple search bar, users can now speak into multiple devices to find what they need. The company continues to look for ways to improve the function to make sure it returns appropriate and reliable information. Alphabet&#39;s search business continues to grow, including a 46% revenue increase in the first nine months of 2021 to $105.7 billion. There are also its YouTube ads and Google cloud offerings, which experienced 57% and 48% revenue growth to $20.2 billion and $13.7 billion, respectively.</p><p>These are part of the vision management laid out to become an artificial-intelligence-first company. A person can see how well its plans are working by looking at Alphabet&#39;s results, which have shown continued strong revenue and income growth. Excluding foreign-currency effects, its third-quarter revenue grew by 39% to $65.3 billion. And its operating income nearly doubled to $21 billion.</p><p>Advertising made up 82% of the quarterly revenue, and the outlook for digital ads remains strong. Google generates ads on its sites, including search plus other properties like Gmail and Google Maps. These involve paid clicks and impressions. YouTube has traditional advertising.</p><p>With a price-earnings ratio (P/E) of 27, the stock isn&#39;t as expensive as it was a few months ago when it was above 30. This also isn&#39;t much off of the <b>S&amp;P 500</b>&#39;s P/E of 29. Considering Alphabet&#39;s strong growth prospects, the stock doesn&#39;t appear richly valued.</p><h4><b>2. <a href=\"https://laohu8.com/S/MSFT\">Microsoft </a></b></h4><p><a href=\"https://laohu8.com/S/MSFT\"><b>Microsoft</b> </a> remains at the top of its game. Its three businesses, productivity and business processes (including Office and LinkedIn), intelligent cloud, and more personal computing (Windows, devices, and gaming, among other products), continue to do well.</p><p>And management continues to bolster Microsoft&#39;s strong market position. This includes acquiring Nuance Communications last year for $19.7 billion, strengthening its cloud offerings. In particular, the deal boosted Microsoft&#39;s offerings to the healthcare industry, which it only began providing in 2020. Nuance&#39;s products include speech-enabled artificial intelligence, helping reduce paperwork. This already uses Microsoft&#39;s Azure cloud platform, which is among its several other cloud services..</p><p>In the fiscal first quarter, which ended on Sept. 30, 2021, the intelligent cloud business experienced a 30.6% increase in revenue to nearly $17 billion. Overall, Microsoft&#39;s quarterly revenue grew by 20% after removing the effects of foreign currency translations, to $45.3 billion. This drove operating income 24% higher to $20.2 billion. Its operating margin expanded by 1.9 percentage points to 44.7%</p><p>Microsoft&#39;s P/E stands at 34, down from above 38 at the end of 2021. With all of the company&#39;s services and products showing significant growth on top of the new opportunities, any chance to get the stock at its relatively &#34;lower&#34; P/E could pay off.</p><h4><b>3. <a href=\"https://laohu8.com/S/NVDA\">Nvidia </a></b></h4><p><a href=\"https://laohu8.com/S/NVDA\"><b>Nvidia</b> </a> makes graphics cards. In fact, it is one of the dominant companies in the space. This innocuous-sounding description doesn&#39;t do it justice, however. Its products allow devices like computers to have high-quality graphics. It has also been pushing into other popular areas. These include artificial intelligence, autonomous vehicles, augmented reality, and virtual reality.</p><p>The company is poised to continue meeting the strong demand for high-performance laptops used by game aficionados, including a new 30 series graphics card. Meanwhile, it also plans on releasing a lower-end product. The market typically welcomes Nvidia&#39;s releases, and it has been anxiously awaiting a less expensive offering.</p><p>Nvidia continues to operate on all cylinders. Its fiscal third-quarter revenue rose by 50% to $7.1 billion, and operating income increased by 91% to $2.7 billion. The company&#39;s operating margin was 37.6%, eight percentage points higher than a year ago.</p><p>Investing in tech stocks presents challenges in a fast-moving world. But these companies have proven staying power. Better still, with an eye to the future, each should continue staying relevant to its customers and continue driving revenue growth. While tech stocks have had a rough start to the year, these three will prove long-term winners, and investors should view any overall decline in the sector as a good opportunity to buy shares.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks I'm Buying During a Tech Stock Correction</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks I'm Buying During a Tech Stock Correction\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-17 19:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/01/17/3-stocks-im-buying-during-a-tech-stock-correction/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tech stocks have gotten off to a rough start this year. For instance, the tech-heavy Nasdaq Composite index is down 5% so far.If this continues into full-blown correction territory, widely considered ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/01/17/3-stocks-im-buying-during-a-tech-stock-correction/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4549":"软银资本持仓","BK4548":"巴美列捷福持仓","BK4514":"搜索引擎","BK4529":"IDC概念","BK4528":"SaaS概念","BK4516":"特朗普概念","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4553":"喜马拉雅资本持仓","MSFT":"微软","BK4534":"瑞士信贷持仓","BK4567":"ESG概念","BK4507":"流媒体概念","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4525":"远程办公概念","BK4535":"淡马锡持仓","GOOG":"谷歌","BK4543":"AI","BK4538":"云计算","GOOGL":"谷歌A","BK4527":"明星科技股","BK4077":"互动媒体与服务","BK4550":"红杉资本持仓","BK4141":"半导体产品","NVDA":"英伟达","BK4503":"景林资产持仓","BK4551":"寇图资本持仓","BK4097":"系统软件","BK4561":"索罗斯持仓","BK4504":"桥水持仓"},"source_url":"https://www.fool.com/investing/2022/01/17/3-stocks-im-buying-during-a-tech-stock-correction/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2204775898","content_text":"Tech stocks have gotten off to a rough start this year. For instance, the tech-heavy Nasdaq Composite index is down 5% so far.If this continues into full-blown correction territory, widely considered a 10% decline, investors can pick up certain tech stocks at good valuations. That's because a broad sell-off affects most stocks, even those of high-quality companies. Fortunately, these three companies have strong long-term earnings prospects, making them ideal candidates for buy-and-hold investors.1.Alphabet Alphabet  is so much more than a search engine. Its products also include Android, Chrome, Google Maps, YouTube, and Google Cloud. In other words, very popular offerings that drive advertising revenue and user fees.Fortunately, management continues to push the company forward, allowing it to evolve rather than grow stale like many other tech companies. For example, Alphabet continues to improve its search engine. Instead of typing a query into a simple search bar, users can now speak into multiple devices to find what they need. The company continues to look for ways to improve the function to make sure it returns appropriate and reliable information. Alphabet's search business continues to grow, including a 46% revenue increase in the first nine months of 2021 to $105.7 billion. There are also its YouTube ads and Google cloud offerings, which experienced 57% and 48% revenue growth to $20.2 billion and $13.7 billion, respectively.These are part of the vision management laid out to become an artificial-intelligence-first company. A person can see how well its plans are working by looking at Alphabet's results, which have shown continued strong revenue and income growth. Excluding foreign-currency effects, its third-quarter revenue grew by 39% to $65.3 billion. And its operating income nearly doubled to $21 billion.Advertising made up 82% of the quarterly revenue, and the outlook for digital ads remains strong. Google generates ads on its sites, including search plus other properties like Gmail and Google Maps. These involve paid clicks and impressions. YouTube has traditional advertising.With a price-earnings ratio (P/E) of 27, the stock isn't as expensive as it was a few months ago when it was above 30. This also isn't much off of the S&P 500's P/E of 29. Considering Alphabet's strong growth prospects, the stock doesn't appear richly valued.2. Microsoft Microsoft  remains at the top of its game. Its three businesses, productivity and business processes (including Office and LinkedIn), intelligent cloud, and more personal computing (Windows, devices, and gaming, among other products), continue to do well.And management continues to bolster Microsoft's strong market position. This includes acquiring Nuance Communications last year for $19.7 billion, strengthening its cloud offerings. In particular, the deal boosted Microsoft's offerings to the healthcare industry, which it only began providing in 2020. Nuance's products include speech-enabled artificial intelligence, helping reduce paperwork. This already uses Microsoft's Azure cloud platform, which is among its several other cloud services..In the fiscal first quarter, which ended on Sept. 30, 2021, the intelligent cloud business experienced a 30.6% increase in revenue to nearly $17 billion. Overall, Microsoft's quarterly revenue grew by 20% after removing the effects of foreign currency translations, to $45.3 billion. This drove operating income 24% higher to $20.2 billion. Its operating margin expanded by 1.9 percentage points to 44.7%Microsoft's P/E stands at 34, down from above 38 at the end of 2021. With all of the company's services and products showing significant growth on top of the new opportunities, any chance to get the stock at its relatively \"lower\" P/E could pay off.3. Nvidia Nvidia  makes graphics cards. In fact, it is one of the dominant companies in the space. This innocuous-sounding description doesn't do it justice, however. Its products allow devices like computers to have high-quality graphics. It has also been pushing into other popular areas. These include artificial intelligence, autonomous vehicles, augmented reality, and virtual reality.The company is poised to continue meeting the strong demand for high-performance laptops used by game aficionados, including a new 30 series graphics card. Meanwhile, it also plans on releasing a lower-end product. The market typically welcomes Nvidia's releases, and it has been anxiously awaiting a less expensive offering.Nvidia continues to operate on all cylinders. Its fiscal third-quarter revenue rose by 50% to $7.1 billion, and operating income increased by 91% to $2.7 billion. The company's operating margin was 37.6%, eight percentage points higher than a year ago.Investing in tech stocks presents challenges in a fast-moving world. But these companies have proven staying power. Better still, with an eye to the future, each should continue staying relevant to its customers and continue driving revenue growth. While tech stocks have had a rough start to the year, these three will prove long-term winners, and investors should view any overall decline in the sector as a good opportunity to buy shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":487,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9006691183,"gmtCreate":1641700151953,"gmtModify":1676533641311,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like for good luck! 🍀","listText":"give a like for good luck! 🍀","text":"give a like for good luck! 🍀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9006691183","repostId":"2201249471","repostType":4,"repost":{"id":"2201249471","pubTimestamp":1641691426,"share":"https://www.laohu8.com/m/news/2201249471?lang=&edition=full","pubTime":"2022-01-09 09:23","market":"us","language":"en","title":"My 3 Favorite Stocks Right Now","url":"https://stock-news.laohu8.com/highlight/detail?id=2201249471","media":"Motley Fool","summary":"These glaring deals from the small and mid-cap arena could be substantial long-term winners.","content":"<html><head></head><body><p>Unless a portfolio is constructed entirely of mega-cap stocks, it&#39;s probably seeing more red than green days lately. The market can seem like a popularity contest, and small and mid-cap growth stocks are not cool right now.</p><p>But it would help if investors looked at the positives in all of this selling pressure. With so many stocks selling off, it&#39;s a great time to buy stocks at great prices. The market has hammered these three stocks recently, but they have a long-term upside that could make them huge winners down the road.</p><h2>1. Affirm Holdings</h2><p>Buy now, pay later (BNPL) took 2021 by storm, growing roughly fourfold to $100 billion this past year. Experts think it could expand to 15 times its current volume by 2025. The simple structure of fixed installments that often carry zero interest is rapidly gaining popularity over traditional consumer credit cards.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60125fdb7af8793177def84d6bf63e34\" tg-width=\"700\" tg-height=\"444\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><p><b>Affirm</b> (NASDAQ:AFRM) is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the leading BNPL companies. It works with its retail partners to offer installment payment plans on products. Users can shop right from the Affirm app and use Affirm&#39;s payment tools when checking out. Retailers have an incentive to use BNPL because it increases order size and customer loyalty. Shoppers can fit more into their carts, and they like the simple financing. In other words, it has become a sales tool for retailers.</p><p>Affirm has secured numerous partnerships with leading e-commerce merchants, including <b>Amazon</b>, <b>Walmart</b>, <b>Shopify</b>, and <b>Target</b>. In its first quarter of 2022 (period ending Sept. 30, 2021), the company reported that its merchant partnerships had increased 1,468% year over year to 102,200. Affirm hasn&#39;t even commented on its guidance since announcing the Amazon partnership, so it seems reasonable that its 84% year-over-year merchandise volume growth in 2022 Q1 could continue from here.</p><p>Despite this good news, the stock has been caught up in a broader market tech sell-off and has fallen more than 50% from its highs. At $80 per share, the stock almost trades as low as before Affirm announced the Amazon partnership.</p><p>Affirm isn&#39;t profitable, but it&#39;s spending heavily on building new products and services; it has ambitions of becoming a broader financial services company, bringing a finance super-app and debit card to market over the coming quarters. As these products launch and revenue grows, investors should look for the business to begin heading toward a positive operating income.</p><h2>2. Crowdstrike Holdings</h2><p>The world is becoming increasingly digital at a rapid pace. Yet, consumers&#39; and businesses&#39; tools to protect themselves from digital threats are largely still behind the times. Someone could do a simple internet search and find countless instances of breached, hacked, or compromised companies.</p><p><b>CrowdStrike</b> (NASDAQ:CRWD) is a cloud-based leader in endpoint security, in which a network protects user devices like computers and mobile devices from digital threats. In the old days, people would download antivirus software, receive occasional updates from the security company which ultimately would tell the antivirus program what threats looked like.</p><p>CrowdStrike&#39;s Falcon platform delivers various protections through the cloud, giving the software real-time information and updates. Devices connected on Falcon are linked, similar to a massive network. If an attack happens on one device, the system learns and instantly shares this information with the other devices throughout the network. As more devices are connected, it creates a network effect, and the Falcon platform learns more, faster.</p><p>The stock has had a great run since COVID-19 started but has since pulled back roughly 40% from its highs. CrowdStrike grew subscription revenue 67% year over year in its most recent quarter, the third quarter of 2022 (Oct. 31, 2021), to $357 million. The company is reporting net losses but is growing its free cash flow; it was $123.5 million in 2022 Q3, a 62% year-over-year increase. Free cash flow is a positive step toward posting a profit, so investors should look for cash flow to keep growing, and net losses to shrink over the coming quarters.</p><h2>3. Sea Limited</h2><p>The population in Southeast Asia is friendly toward technology; the region boasts a population of roughly 670 million, and half are under age 30. They also tend to spend eight hours on the internet each day, more than the global average. In other words, they are a great target market for digital businesses.</p><p><b>Sea Limited</b> (NYSE:SE) is an internet company with various digital business segments, including e-commerce, mobile gaming, and financial services. Garena, its gaming business, is driven by FreeFire, one of the most popular mobile games in the world. It&#39;s also the most profitable part of the company, responsible for all of Sea&#39;s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).</p><p>The company uses these profits to expand other parts of its business heavily. For example, Sea has taken its e-commerce business, Shopee, to other regions in the world, including Latin America, Europe, and India. The company is aggressively pumping its cash back into the business to pay for the employees, buildings, and resources needed for these new markets, so the overall business is losing money right now. However, I expect that the spending eventually levels off, and revenue growth will outpace the money Sea spends, pushing the company toward profits. Investors will want to pay attention to whether losses grow or shrink in future quarters.</p><p>Sea&#39;s total revenue grew 122% year over year in its most recent quarter, 2021 Q3, and there is reason to believe that rapid growth can continue for years to come. E-commerce, gaming, and fintech are all massive addressable markets, and Sea&#39;s ambition to attack them at a global scale gives the business a virtually endless runway for growth. The stock is 50% off its highs, so investors with the patience to hold for the long term could be scooping up shares at a nice discount.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>My 3 Favorite Stocks Right Now</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMy 3 Favorite Stocks Right Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-09 09:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/01/08/my-3-favorite-stocks-right-now/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Unless a portfolio is constructed entirely of mega-cap stocks, it's probably seeing more red than green days lately. The market can seem like a popularity contest, and small and mid-cap growth stocks ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/01/08/my-3-favorite-stocks-right-now/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4503":"景林资产持仓","BK4532":"文艺复兴科技持仓","BK4106":"数据处理与外包服务","BK4554":"元宇宙及AR概念","BK4528":"SaaS概念","SE":"Sea Ltd","BK4535":"淡马锡持仓","BK4551":"寇图资本持仓","BK4548":"巴美列捷福持仓","AFRM":"Affirm Holdings, Inc.","BK4097":"系统软件","CRWD":"CrowdStrike Holdings, Inc.","BK4560":"网络安全概念","BK4085":"互动家庭娱乐","BK4566":"资本集团"},"source_url":"https://www.fool.com/investing/2022/01/08/my-3-favorite-stocks-right-now/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201249471","content_text":"Unless a portfolio is constructed entirely of mega-cap stocks, it's probably seeing more red than green days lately. The market can seem like a popularity contest, and small and mid-cap growth stocks are not cool right now.But it would help if investors looked at the positives in all of this selling pressure. With so many stocks selling off, it's a great time to buy stocks at great prices. The market has hammered these three stocks recently, but they have a long-term upside that could make them huge winners down the road.1. Affirm HoldingsBuy now, pay later (BNPL) took 2021 by storm, growing roughly fourfold to $100 billion this past year. Experts think it could expand to 15 times its current volume by 2025. The simple structure of fixed installments that often carry zero interest is rapidly gaining popularity over traditional consumer credit cards.Image source: Getty Images.Affirm (NASDAQ:AFRM) is one of the leading BNPL companies. It works with its retail partners to offer installment payment plans on products. Users can shop right from the Affirm app and use Affirm's payment tools when checking out. Retailers have an incentive to use BNPL because it increases order size and customer loyalty. Shoppers can fit more into their carts, and they like the simple financing. In other words, it has become a sales tool for retailers.Affirm has secured numerous partnerships with leading e-commerce merchants, including Amazon, Walmart, Shopify, and Target. In its first quarter of 2022 (period ending Sept. 30, 2021), the company reported that its merchant partnerships had increased 1,468% year over year to 102,200. Affirm hasn't even commented on its guidance since announcing the Amazon partnership, so it seems reasonable that its 84% year-over-year merchandise volume growth in 2022 Q1 could continue from here.Despite this good news, the stock has been caught up in a broader market tech sell-off and has fallen more than 50% from its highs. At $80 per share, the stock almost trades as low as before Affirm announced the Amazon partnership.Affirm isn't profitable, but it's spending heavily on building new products and services; it has ambitions of becoming a broader financial services company, bringing a finance super-app and debit card to market over the coming quarters. As these products launch and revenue grows, investors should look for the business to begin heading toward a positive operating income.2. Crowdstrike HoldingsThe world is becoming increasingly digital at a rapid pace. Yet, consumers' and businesses' tools to protect themselves from digital threats are largely still behind the times. Someone could do a simple internet search and find countless instances of breached, hacked, or compromised companies.CrowdStrike (NASDAQ:CRWD) is a cloud-based leader in endpoint security, in which a network protects user devices like computers and mobile devices from digital threats. In the old days, people would download antivirus software, receive occasional updates from the security company which ultimately would tell the antivirus program what threats looked like.CrowdStrike's Falcon platform delivers various protections through the cloud, giving the software real-time information and updates. Devices connected on Falcon are linked, similar to a massive network. If an attack happens on one device, the system learns and instantly shares this information with the other devices throughout the network. As more devices are connected, it creates a network effect, and the Falcon platform learns more, faster.The stock has had a great run since COVID-19 started but has since pulled back roughly 40% from its highs. CrowdStrike grew subscription revenue 67% year over year in its most recent quarter, the third quarter of 2022 (Oct. 31, 2021), to $357 million. The company is reporting net losses but is growing its free cash flow; it was $123.5 million in 2022 Q3, a 62% year-over-year increase. Free cash flow is a positive step toward posting a profit, so investors should look for cash flow to keep growing, and net losses to shrink over the coming quarters.3. Sea LimitedThe population in Southeast Asia is friendly toward technology; the region boasts a population of roughly 670 million, and half are under age 30. They also tend to spend eight hours on the internet each day, more than the global average. In other words, they are a great target market for digital businesses.Sea Limited (NYSE:SE) is an internet company with various digital business segments, including e-commerce, mobile gaming, and financial services. Garena, its gaming business, is driven by FreeFire, one of the most popular mobile games in the world. It's also the most profitable part of the company, responsible for all of Sea's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).The company uses these profits to expand other parts of its business heavily. For example, Sea has taken its e-commerce business, Shopee, to other regions in the world, including Latin America, Europe, and India. The company is aggressively pumping its cash back into the business to pay for the employees, buildings, and resources needed for these new markets, so the overall business is losing money right now. However, I expect that the spending eventually levels off, and revenue growth will outpace the money Sea spends, pushing the company toward profits. Investors will want to pay attention to whether losses grow or shrink in future quarters.Sea's total revenue grew 122% year over year in its most recent quarter, 2021 Q3, and there is reason to believe that rapid growth can continue for years to come. E-commerce, gaming, and fintech are all massive addressable markets, and Sea's ambition to attack them at a global scale gives the business a virtually endless runway for growth. The stock is 50% off its highs, so investors with the patience to hold for the long term could be scooping up shares at a nice discount.","news_type":1},"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9008733082,"gmtCreate":1641520420708,"gmtModify":1676533624903,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"yessir Charlie!","listText":"yessir Charlie!","text":"yessir Charlie!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9008733082","repostId":"1181451509","repostType":4,"repost":{"id":"1181451509","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1641459895,"share":"https://www.laohu8.com/m/news/1181451509?lang=&edition=full","pubTime":"2022-01-06 17:04","market":"us","language":"en","title":"Alibaba Rose 2% in Premarket Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1181451509","media":"Tiger Newspress","summary":"Alibaba rose 2% in premarket trading. Charlie Munger's Daily Journal nearly doubled its stake in Ali","content":"<html><head></head><body><p>Alibaba rose 2% in premarket trading. Charlie Munger&#39;s Daily Journal nearly doubled its stake in Alibaba on Wednesday.</p><p><img src=\"https://static.tigerbbs.com/3ffe576d9b234c2d75edbc8644cf0fd3\" tg-width=\"1120\" tg-height=\"752\" width=\"100%\" height=\"auto\"/></p><p>Daily Journal Corp, the publishing and technology company in which Warren Buffett&#39;s longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.</p><p></p><p>The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Rose 2% in Premarket Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba Rose 2% in Premarket Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-01-06 17:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Alibaba rose 2% in premarket trading. Charlie Munger&#39;s Daily Journal nearly doubled its stake in Alibaba on Wednesday.</p><p><img src=\"https://static.tigerbbs.com/3ffe576d9b234c2d75edbc8644cf0fd3\" tg-width=\"1120\" tg-height=\"752\" width=\"100%\" height=\"auto\"/></p><p>Daily Journal Corp, the publishing and technology company in which Warren Buffett&#39;s longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.</p><p></p><p>The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181451509","content_text":"Alibaba rose 2% in premarket trading. Charlie Munger's Daily Journal nearly doubled its stake in Alibaba on Wednesday.Daily Journal Corp, the publishing and technology company in which Warren Buffett's longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.","news_type":1},"isVote":1,"tweetType":1,"viewCount":687,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003365088,"gmtCreate":1640880509081,"gmtModify":1676533550849,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"good read!!","listText":"good read!!","text":"good read!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003365088","repostId":"1106092668","repostType":4,"repost":{"id":"1106092668","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640876653,"share":"https://www.laohu8.com/m/news/1106092668?lang=&edition=full","pubTime":"2021-12-30 23:04","market":"us","language":"en","title":"Sea Limited Shares Jumped More Than 4% in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1106092668","media":"Tiger Newspress","summary":"Sea Limited shares jumped more than 4% in morning trading.Also Read:Sea Limited: A Deep Dive To Unde","content":"<html><head></head><body><p>Sea Limited shares jumped more than 4% in morning trading.</p><p><img src=\"https://static.tigerbbs.com/448dcc7d589843674730e046aa6ef96a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Also Read:</b><b>Sea Limited: A Deep Dive To Understand The Recent Selloff</b></p><p><b>Summary</b></p><ul><li>Sea Limited is a highly diversified business firing on all cylinders in some of the fastest-growing economies in the world.</li><li>I dive into each of its segments to understand the recent selloff and justify the current valuation.</li><li>I consider Sea one of my ten highest conviction investments.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa5cbe0a30acc723a2c6f62300024002\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"/><span>kokkai/iStock Unreleased via Getty Images</span></p><p><b>Thesis</b></p><p>A by-parts analysis of Sea Limited&#39;s (NYSE:SE) segments shows that its current valuation is roughly fair, but there are many long-term growth drivers that could surprise to the upside and drive very strong returns for years to come.</p><p><b>Introduction</b></p><p>I recently wrote an article highlighting my top 10 stock picks for 2022. I&#39;d already done an in-depth analysis of my other nine picks in other Seeking Alpha articles, so I thought it would be good to close out the year with an article about Sea.</p><p>Furthermore, with shares down significantly over the past couple of months (but still slightly up for the year), I believe this article may prove timely. I don&#39;t speculate on short-term market movements, but I personally added to my Sea shares recently. It&#39;s one of my only losing positions that I didn&#39;t sell out of temporarily for tax-loss harvesting, and in this article, I will explain why Sea is such a high conviction holding for me.</p><p>It&#39;s also worth noting that many professional investors seem to share this opinion. Sea is the 121st largest company in the world, but it&#39;s the16thmost popular holding among hedge funds. This implies that big money is overweight Sea, with 71% of shares held by institutions.</p><p>Because Sea operates in many different areas, I will do a separate analysis of each of its operating segments to justify its current valuation and explain how that valuation could drive unexpectedly strong returns for years.</p><p><b>Gaming</b></p><p>Sea Limited&#39;s gaming segment Garena is best known for Free Fire, a mobile battle royale game that was developed in-house.</p><p>The game was released in 2017 and has been very popular ever since. It currently has the second most monthly active users among all Android games globally. The game is available worldwide, but it&#39;s particularly popular in emerging markets like SEA, LATAM, and India, where it&#39;s been the highest-grossing mobile game for over two years.</p><p>With the game having been popular for a long time already, there&#39;s some concern that gamers will move on to the next big thing. Although there are some mobile games that are older than Free Fire and still very popular - like Roblox, Clash of Clans, and Pokemon Go - there are many more that have been forgotten. Until Garena releases more games and proves that it can be successful with them too, there will always be questions about whether its studio is a one-hit wonder.</p><p>Regardless, Garena is a critical part of Sea because it&#39;s the only profitable segment and it doubles a social platform that provides free advertising for Sea&#39;s non-gaming products. Cross-promotion is a huge competitive advantage for Sea.</p><p>Thus, one reason for Sea&#39;s recent selloff could be the Q4 guidance implied for Garena.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e299727cc28a887a36d88831aec8f53\" tg-width=\"640\" tg-height=\"334\" width=\"100%\" height=\"auto\"/><span>Source: Earnings Call Presentation</span></p><p>In Q2 this year, Garena raised its guidance to $4.5B-$4.7B for 2021 bookings (up from $4.3B-$4.5B). With the first three quarters already totaling $3.5B, this implies that Q4 bookings will come in at $1.0B-$1.2B, up between 0% and 20% year over year, and likely down sequentially. This is compared to 29% growth in the most recent quarter and 44% projected growth for the full year.</p><p>While 20% isn&#39;t a terrible deceleration, 0% certainly is. Even 20% growth isn&#39;t spectacular compared to the historic levels. At the 10% midpoint, Garena&#39;s growth looks more similar to that of a mature company like Activision (NASDAQ:ATVI) or Zynga (NASDAQ:ZNGA) than a fast-growing company like Roblox (NYSE:RBLX).</p><p>Garena&#39;s implied valuation should - and did - suffer as a result. While a fast-growing company like Roblox can command a high double-digit P/S multiple, Activision and Zynga trade at an average P/S multiple of just 4. Garena is slightly more profitable than them and probably has more risk to the upside, so I&#39;ll use a P/S multiple of 5 for my implied valuation. This implies a P/E of about 10 for a business growing at around 10%, which is very reasonable in today&#39;s market.</p><p>This means Garena is worth $23.5B based on the high end of management&#39;s guidance.</p><p>I believe this valuation is actually conservative for a few reasons:</p><ul><li>Next year has tough comps and growth could re-accelerate in the following years or even next year, especially if Garena releases a new hit game. The growth rate past next quarter is not based on explicit guidance from the company, only industry forecasts.</li><li>The peer valuations I used are from companies also trading at the lower end of their valuation range for the past year.</li><li>Garena has a good track record and is continuing to invest in Free Fire. One example of this is the recently released Free Fire MAX, which improves the experience for users with higher-end phones and even adds a metaverse-like customizable map called Craftland. To me, this implies that Garena believes Free Fire is still in the earlier part of its lifecycle.</li><li>Although I&#39;d obviously prefer that Garena develops more games in house, in the meantime it&#39;s still not a one-trick pony. In addition to Free Fire, Garena distributes games from third-party developers like Tencent (OTCMKTS:OTCPK:TCEHY). These are popular titles like League of Legends and Call of Duty, which meaningfully diversify Garena&#39;s revenue.</li></ul><p><b>E-Commerce</b></p><p>Sea&#39;s e-commerce platform Shopee is currently its big growth driver. This platform is often considered the Amazon (NASDAQ:AMZN) of Southeast Asia, and it recently expanded into more markets including Brazil.</p><p>There&#39;s always some debate about who is really the Amazon of a region. Shopee certainly has competition, including from Alibaba&#39;s (NYSE:BABA) Lazada, Tokopedia in Indonesia, MercadoLibre (MELI) in Brazil, and even Amazon itself. With most of the competition being private or tucked away into a larger company, many of the competitors don&#39;t publish exact revenue numbers, which makes it difficult to measure the competition. Even Sea hasn&#39;t published explicit revenue numbers for some countries like Brazil.</p><p>One neutral source that can be assessed is the Alexa site rank, which as its name suggests ranks sites by their popularity. Keep in mind that these are ranks, so a lower score is better.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/180367a2b64bccebf243c5b6d8fb776a\" tg-width=\"455\" tg-height=\"353\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from Alexa</span></p><p>Shopee is very mobile-focused, but the above table only considers the website. To check App Store app ranks for the shopping category, we can use App Annie.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6544f014a5d70d13ee14dab0ac8b6782\" tg-width=\"422\" tg-height=\"403\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from AppAnnie</span></p><p>On the mobile side, there&#39;s no need to look at the competition because Shopee is consistently the number one shopping app in every country listed. In a mobile-first world, this bodes very well. Even on the web side, Shopee wins out except in a few specific regions like LATAM and (barely) Indonesia, which have more local competitors.</p><p>Of course, traffic doesn&#39;t always translate to GMV. But for a shopping app where most people will use the app to buy something, it&#39;s a decent proxy. A third party estimates that Shopee accounts for57%of all e-commerce in Southeast Asia. It&#39;s Shopee&#39;s dominance in the mobile app ranks and market share that make me consider it the Amazon of Southeast Asia.</p><p>So why would a company with so much potential sell off?</p><p>After the recent earnings report, some analysts expressed concern that Shopee is branching out into other countries like Poland and Mexico before validating its business model in the current markets. In these countries, Shopee has less of a presence; it&#39;s bounced between the 3-5 spots on the Mexico App Store for shopping apps, and between spots 1 and 3 in Poland. Although analysts hate uncertainty - and the CEO&#39;s comments that they don&#39;t have a concrete measure of success in these earlier stage countries won&#39;t help with that - Shopee has a history of entering new countries successfully and I am willing to give management some time to try expanding more. After all, if they&#39;re successful, then it could drive even more unexpected growth in the future.</p><p>Another complaint from analysts was that the basket size (average purchase size) is trending down. While that could also have contributed to the recent selloff, it&#39;s hard to complain when the overall sales increased a lot despite a decrease in basket size.</p><p>The company raised its guidance for e-commerce again in Q3, now guiding for $5.0B-$5.2B in 2021 e-commerce revenue. That&#39;s 75%-100% growth in Q4 and about 135% growth for the year. These are much more exciting numbers than the gaming side, although the guidance still implies a slight deceleration in Q4. But compared to Amazon&#39;s $340B in 2020 e-commerce sales, Shopee looks like it&#39;s just scratched the surface. E-commerce is at only11%penetration in Southeast Asia compared to18.7%in the USA, and Southeast Asia economies are generally growing faster than the USA&#39;s.</p><p>Despite being in a blue skies industry, it&#39;s more difficult to value the e-commerce segment because it operates at a loss (whereas the gaming segment is highly profitable). Shopee&#39;s success is not guaranteed because it&#39;s not clear at this point whether the platform can become profitable while retaining its market share. Stocks like this tend to experience more volatility, which could partially explain the recent selloff.</p><p>For unprofitable software companies, I like to use the Rule of 40 to assess the business. But it&#39;s difficult to apply this rule to a more cyclical e-commerce company with naturally lower margins. Even so, it&#39;s worth noting that despite being unprofitable, Sea&#39;s Rule of 40 score of 104 is better than most SaaS companies&#39;, and also better than e-commerce peers Amazon (21), MercadoLibre (73), and Alibaba (43).</p><p>To understand Shopee&#39;s terminal valuation once it becomes profitable, we can look at industry peers. Amazon is one profitable and slower-growing peer, and it trades at 4x P/S. AWS pushes this number up, but Amazon&#39;s high exposure to first-party sales offsets that. Other e-commerce marketplace peers trade at similar valuations: Alibaba at 3x P/S, MercadoLibre at 9x P/S. All of these valuations are basically all-time lows.</p><p>If Shopee keeps doubling revenue over the next couple of years (which it&#39;s easily done every year since 2016), becomes profitable (which scaling up tends to help with), and will have Amazon&#39;s P/S multiple in two years, then at 16 P/S today it would trade flat for two years. But if it keeps growing much faster than Amazon over a longer period like a decade, and/or if the overall industry multiples expand to more normal historical levels, then even at 16x P/S this segment has potential upside. On the other hand, if it stops growing or never becomes profitable then investors will be very disappointed at any P/S.</p><p>Given this wide range of outcomes, each person is going to have their own way of valuing this segment. For me, when I look at Shopee&#39;s mobile dominance, relatively small current size, the funding coming in from Garena, and the precedent set by Amazon, Alibaba, and MercadoLibre for the sustainable long-term success of this business model, I am optimistic about this segment&#39;s future. I recognize that it&#39;s currently an unprofitable and thus risky segment, but I also see the massive potential.</p><p>So I am happy paying a 16x P/S multiple, which values the e-commerce segment at $83.2B. Some people will call that way too high, and those people will probably never get a chance to invest in this company, for better or for worse.</p><p>Thus, with just Garena and Shopee, I have Sea being worth $106.7B. Its current market cap is $123.1B. To account for the difference, let&#39;s look at the other parts of Sea.</p><p><b>FinTech &amp; Investments</b></p><p>The easiest addition to my computed valuation is Sea&#39;s $12B cash pile, partially offset by $4B in debt. This adds some nice optionality to the company and ensures that it won&#39;t be bankrupt any time soon despite losing money with Shopee. Adding in the $8B cash difference puts my computed valuation at $114.7B, just $8.4B short of the actual valuation.</p><p>Then there is Sea&#39;s FinTech arm, SeaMoney. The main product here is a mobile wallet, which was responsible for $4.6B in payment volume in the last quarter (~$20B over a year). This segment accounted for $132 million in Q3 revenue, up a whopping 818% year over year. This implies a &#34;take rate&#34; of 2.9%, which is even better than established FinTech companies like Visa (V). Because of this high take rate, I&#39;m not worried about SeaMoney losing money while it scales.</p><p>Despite SeaMoney being a small segment, it&#39;s now reaching a point where it can be factored into the valuation. Maybe it&#39;s only worth a couple of billion, but this is just the start. Five years ago, nobody would have expected that an e-commerce platform accounting for 5% of Sea&#39;s sales would today be worth more than the gaming segment. But Sea&#39;s management - combined with Garena&#39;s ability to fund new segments and drive their viral adoption - made it happen. It&#39;s certainly not guaranteed that Sea will have the same success with FinTech, but there is precedent for it.</p><p>If one day this segment is worth a third or more of Sea (in 2020, FinTech accounted for 36% of MercadoLibre&#39;s revenue) then getting it for just 7% of the business today will be well worth it, even if that implies a somewhat high 16x P/S multiple for the segment today. Actually, this multiple is already lower than Visa&#39;s, Mastercard&#39;s (NYSE:MA), and Affirm&#39;s (NASDAQ:AFRM). Realistically, a segment growing at 818% year over year should probably get a higher multiple than these slower-growing companies&#39;, but we don&#39;t even need to speculate about what a fair multiple is, since we can reach Sea&#39;s current valuation by using 16x P/S in my model valuation.</p><p>One way this segment could grow even more is through the introduction of more products besides the mobile wallet. Sea noted in their recent earnings that they have started &#34;early initiatives in other digital financial services such as buy now pay later, digital bank, and insurtech.&#34; These guys sure know how to hop on the latest high growth trend.</p><p>Finally, there&#39;s the investments arm. Sea is investing in early-stage tech companies, especially in Southeast Asia. There&#39;s strong precedent for companies like Tencent (which is itself an investor in Sea) and Shopify (NYSE:SHOP) managing successful investment portfolios that ultimately factor meaningfully into their valuation. Right now Sea&#39;s investment arm is very early stage, so I don&#39;t include it in my valuation model. But it doesn&#39;t have to be factored in to justify the current share price. It&#39;s just one more area that might be worth a large part of Sea one day.</p><p><b>Conclusion</b></p><p>Looking at each of Sea&#39;s segments, my valuation model indicates that Sea is fairly valued today. However, my model doesn&#39;t account for the significant optionality of the newer segments. Just like e-commerce did over the last five years, FinTech (and/or investments) could grow to become a very large part of Sea&#39;s business. With the FinTech segment currently growing at 818% year over year, it doesn&#39;t take much imagination to see how this happens. Just another year or two of growth at something close to that rate will make the FinTech arm impossible for investors to ignore.</p><p>This optionality combined general strength in each business has allowed Sea to post an average revenue beat of 7% over the past year. Earnings haven&#39;t been as strong, and I expect that to be the main point of contention with my valuation model, as is the case for most unprofitable companies. In particular, I expect some readers will disagree with my valuation of the e-commerce segment. But even if you drop e-commerce all the way down to 5x P/S (a multiple seen today by much slower growing e-commerce companies) that implies 54% downside from today&#39;s prices. It&#39;s a steep drop for sure, but most companies in today&#39;s market would be looking at such a decline if one were to use the most conservative valuation standards possible.</p><p>Only fast-growing companies like Sea can quickly offset such a decline with revenue growth. As a result, the businesses with the most long-term potential will hardly ever trade at the most conservative valuation possible. And Sea certainly has long-term potential. It&#39;s one of the few high-growth companies I own that I could see reaching a trillion-dollar market cap this decade.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited Shares Jumped More Than 4% in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited Shares Jumped More Than 4% in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-12-30 23:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Sea Limited shares jumped more than 4% in morning trading.</p><p><img src=\"https://static.tigerbbs.com/448dcc7d589843674730e046aa6ef96a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Also Read:</b><b>Sea Limited: A Deep Dive To Understand The Recent Selloff</b></p><p><b>Summary</b></p><ul><li>Sea Limited is a highly diversified business firing on all cylinders in some of the fastest-growing economies in the world.</li><li>I dive into each of its segments to understand the recent selloff and justify the current valuation.</li><li>I consider Sea one of my ten highest conviction investments.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa5cbe0a30acc723a2c6f62300024002\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"/><span>kokkai/iStock Unreleased via Getty Images</span></p><p><b>Thesis</b></p><p>A by-parts analysis of Sea Limited&#39;s (NYSE:SE) segments shows that its current valuation is roughly fair, but there are many long-term growth drivers that could surprise to the upside and drive very strong returns for years to come.</p><p><b>Introduction</b></p><p>I recently wrote an article highlighting my top 10 stock picks for 2022. I&#39;d already done an in-depth analysis of my other nine picks in other Seeking Alpha articles, so I thought it would be good to close out the year with an article about Sea.</p><p>Furthermore, with shares down significantly over the past couple of months (but still slightly up for the year), I believe this article may prove timely. I don&#39;t speculate on short-term market movements, but I personally added to my Sea shares recently. It&#39;s one of my only losing positions that I didn&#39;t sell out of temporarily for tax-loss harvesting, and in this article, I will explain why Sea is such a high conviction holding for me.</p><p>It&#39;s also worth noting that many professional investors seem to share this opinion. Sea is the 121st largest company in the world, but it&#39;s the16thmost popular holding among hedge funds. This implies that big money is overweight Sea, with 71% of shares held by institutions.</p><p>Because Sea operates in many different areas, I will do a separate analysis of each of its operating segments to justify its current valuation and explain how that valuation could drive unexpectedly strong returns for years.</p><p><b>Gaming</b></p><p>Sea Limited&#39;s gaming segment Garena is best known for Free Fire, a mobile battle royale game that was developed in-house.</p><p>The game was released in 2017 and has been very popular ever since. It currently has the second most monthly active users among all Android games globally. The game is available worldwide, but it&#39;s particularly popular in emerging markets like SEA, LATAM, and India, where it&#39;s been the highest-grossing mobile game for over two years.</p><p>With the game having been popular for a long time already, there&#39;s some concern that gamers will move on to the next big thing. Although there are some mobile games that are older than Free Fire and still very popular - like Roblox, Clash of Clans, and Pokemon Go - there are many more that have been forgotten. Until Garena releases more games and proves that it can be successful with them too, there will always be questions about whether its studio is a one-hit wonder.</p><p>Regardless, Garena is a critical part of Sea because it&#39;s the only profitable segment and it doubles a social platform that provides free advertising for Sea&#39;s non-gaming products. Cross-promotion is a huge competitive advantage for Sea.</p><p>Thus, one reason for Sea&#39;s recent selloff could be the Q4 guidance implied for Garena.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e299727cc28a887a36d88831aec8f53\" tg-width=\"640\" tg-height=\"334\" width=\"100%\" height=\"auto\"/><span>Source: Earnings Call Presentation</span></p><p>In Q2 this year, Garena raised its guidance to $4.5B-$4.7B for 2021 bookings (up from $4.3B-$4.5B). With the first three quarters already totaling $3.5B, this implies that Q4 bookings will come in at $1.0B-$1.2B, up between 0% and 20% year over year, and likely down sequentially. This is compared to 29% growth in the most recent quarter and 44% projected growth for the full year.</p><p>While 20% isn&#39;t a terrible deceleration, 0% certainly is. Even 20% growth isn&#39;t spectacular compared to the historic levels. At the 10% midpoint, Garena&#39;s growth looks more similar to that of a mature company like Activision (NASDAQ:ATVI) or Zynga (NASDAQ:ZNGA) than a fast-growing company like Roblox (NYSE:RBLX).</p><p>Garena&#39;s implied valuation should - and did - suffer as a result. While a fast-growing company like Roblox can command a high double-digit P/S multiple, Activision and Zynga trade at an average P/S multiple of just 4. Garena is slightly more profitable than them and probably has more risk to the upside, so I&#39;ll use a P/S multiple of 5 for my implied valuation. This implies a P/E of about 10 for a business growing at around 10%, which is very reasonable in today&#39;s market.</p><p>This means Garena is worth $23.5B based on the high end of management&#39;s guidance.</p><p>I believe this valuation is actually conservative for a few reasons:</p><ul><li>Next year has tough comps and growth could re-accelerate in the following years or even next year, especially if Garena releases a new hit game. The growth rate past next quarter is not based on explicit guidance from the company, only industry forecasts.</li><li>The peer valuations I used are from companies also trading at the lower end of their valuation range for the past year.</li><li>Garena has a good track record and is continuing to invest in Free Fire. One example of this is the recently released Free Fire MAX, which improves the experience for users with higher-end phones and even adds a metaverse-like customizable map called Craftland. To me, this implies that Garena believes Free Fire is still in the earlier part of its lifecycle.</li><li>Although I&#39;d obviously prefer that Garena develops more games in house, in the meantime it&#39;s still not a one-trick pony. In addition to Free Fire, Garena distributes games from third-party developers like Tencent (OTCMKTS:OTCPK:TCEHY). These are popular titles like League of Legends and Call of Duty, which meaningfully diversify Garena&#39;s revenue.</li></ul><p><b>E-Commerce</b></p><p>Sea&#39;s e-commerce platform Shopee is currently its big growth driver. This platform is often considered the Amazon (NASDAQ:AMZN) of Southeast Asia, and it recently expanded into more markets including Brazil.</p><p>There&#39;s always some debate about who is really the Amazon of a region. Shopee certainly has competition, including from Alibaba&#39;s (NYSE:BABA) Lazada, Tokopedia in Indonesia, MercadoLibre (MELI) in Brazil, and even Amazon itself. With most of the competition being private or tucked away into a larger company, many of the competitors don&#39;t publish exact revenue numbers, which makes it difficult to measure the competition. Even Sea hasn&#39;t published explicit revenue numbers for some countries like Brazil.</p><p>One neutral source that can be assessed is the Alexa site rank, which as its name suggests ranks sites by their popularity. Keep in mind that these are ranks, so a lower score is better.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/180367a2b64bccebf243c5b6d8fb776a\" tg-width=\"455\" tg-height=\"353\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from Alexa</span></p><p>Shopee is very mobile-focused, but the above table only considers the website. To check App Store app ranks for the shopping category, we can use App Annie.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6544f014a5d70d13ee14dab0ac8b6782\" tg-width=\"422\" tg-height=\"403\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from AppAnnie</span></p><p>On the mobile side, there&#39;s no need to look at the competition because Shopee is consistently the number one shopping app in every country listed. In a mobile-first world, this bodes very well. Even on the web side, Shopee wins out except in a few specific regions like LATAM and (barely) Indonesia, which have more local competitors.</p><p>Of course, traffic doesn&#39;t always translate to GMV. But for a shopping app where most people will use the app to buy something, it&#39;s a decent proxy. A third party estimates that Shopee accounts for57%of all e-commerce in Southeast Asia. It&#39;s Shopee&#39;s dominance in the mobile app ranks and market share that make me consider it the Amazon of Southeast Asia.</p><p>So why would a company with so much potential sell off?</p><p>After the recent earnings report, some analysts expressed concern that Shopee is branching out into other countries like Poland and Mexico before validating its business model in the current markets. In these countries, Shopee has less of a presence; it&#39;s bounced between the 3-5 spots on the Mexico App Store for shopping apps, and between spots 1 and 3 in Poland. Although analysts hate uncertainty - and the CEO&#39;s comments that they don&#39;t have a concrete measure of success in these earlier stage countries won&#39;t help with that - Shopee has a history of entering new countries successfully and I am willing to give management some time to try expanding more. After all, if they&#39;re successful, then it could drive even more unexpected growth in the future.</p><p>Another complaint from analysts was that the basket size (average purchase size) is trending down. While that could also have contributed to the recent selloff, it&#39;s hard to complain when the overall sales increased a lot despite a decrease in basket size.</p><p>The company raised its guidance for e-commerce again in Q3, now guiding for $5.0B-$5.2B in 2021 e-commerce revenue. That&#39;s 75%-100% growth in Q4 and about 135% growth for the year. These are much more exciting numbers than the gaming side, although the guidance still implies a slight deceleration in Q4. But compared to Amazon&#39;s $340B in 2020 e-commerce sales, Shopee looks like it&#39;s just scratched the surface. E-commerce is at only11%penetration in Southeast Asia compared to18.7%in the USA, and Southeast Asia economies are generally growing faster than the USA&#39;s.</p><p>Despite being in a blue skies industry, it&#39;s more difficult to value the e-commerce segment because it operates at a loss (whereas the gaming segment is highly profitable). Shopee&#39;s success is not guaranteed because it&#39;s not clear at this point whether the platform can become profitable while retaining its market share. Stocks like this tend to experience more volatility, which could partially explain the recent selloff.</p><p>For unprofitable software companies, I like to use the Rule of 40 to assess the business. But it&#39;s difficult to apply this rule to a more cyclical e-commerce company with naturally lower margins. Even so, it&#39;s worth noting that despite being unprofitable, Sea&#39;s Rule of 40 score of 104 is better than most SaaS companies&#39;, and also better than e-commerce peers Amazon (21), MercadoLibre (73), and Alibaba (43).</p><p>To understand Shopee&#39;s terminal valuation once it becomes profitable, we can look at industry peers. Amazon is one profitable and slower-growing peer, and it trades at 4x P/S. AWS pushes this number up, but Amazon&#39;s high exposure to first-party sales offsets that. Other e-commerce marketplace peers trade at similar valuations: Alibaba at 3x P/S, MercadoLibre at 9x P/S. All of these valuations are basically all-time lows.</p><p>If Shopee keeps doubling revenue over the next couple of years (which it&#39;s easily done every year since 2016), becomes profitable (which scaling up tends to help with), and will have Amazon&#39;s P/S multiple in two years, then at 16 P/S today it would trade flat for two years. But if it keeps growing much faster than Amazon over a longer period like a decade, and/or if the overall industry multiples expand to more normal historical levels, then even at 16x P/S this segment has potential upside. On the other hand, if it stops growing or never becomes profitable then investors will be very disappointed at any P/S.</p><p>Given this wide range of outcomes, each person is going to have their own way of valuing this segment. For me, when I look at Shopee&#39;s mobile dominance, relatively small current size, the funding coming in from Garena, and the precedent set by Amazon, Alibaba, and MercadoLibre for the sustainable long-term success of this business model, I am optimistic about this segment&#39;s future. I recognize that it&#39;s currently an unprofitable and thus risky segment, but I also see the massive potential.</p><p>So I am happy paying a 16x P/S multiple, which values the e-commerce segment at $83.2B. Some people will call that way too high, and those people will probably never get a chance to invest in this company, for better or for worse.</p><p>Thus, with just Garena and Shopee, I have Sea being worth $106.7B. Its current market cap is $123.1B. To account for the difference, let&#39;s look at the other parts of Sea.</p><p><b>FinTech &amp; Investments</b></p><p>The easiest addition to my computed valuation is Sea&#39;s $12B cash pile, partially offset by $4B in debt. This adds some nice optionality to the company and ensures that it won&#39;t be bankrupt any time soon despite losing money with Shopee. Adding in the $8B cash difference puts my computed valuation at $114.7B, just $8.4B short of the actual valuation.</p><p>Then there is Sea&#39;s FinTech arm, SeaMoney. The main product here is a mobile wallet, which was responsible for $4.6B in payment volume in the last quarter (~$20B over a year). This segment accounted for $132 million in Q3 revenue, up a whopping 818% year over year. This implies a &#34;take rate&#34; of 2.9%, which is even better than established FinTech companies like Visa (V). Because of this high take rate, I&#39;m not worried about SeaMoney losing money while it scales.</p><p>Despite SeaMoney being a small segment, it&#39;s now reaching a point where it can be factored into the valuation. Maybe it&#39;s only worth a couple of billion, but this is just the start. Five years ago, nobody would have expected that an e-commerce platform accounting for 5% of Sea&#39;s sales would today be worth more than the gaming segment. But Sea&#39;s management - combined with Garena&#39;s ability to fund new segments and drive their viral adoption - made it happen. It&#39;s certainly not guaranteed that Sea will have the same success with FinTech, but there is precedent for it.</p><p>If one day this segment is worth a third or more of Sea (in 2020, FinTech accounted for 36% of MercadoLibre&#39;s revenue) then getting it for just 7% of the business today will be well worth it, even if that implies a somewhat high 16x P/S multiple for the segment today. Actually, this multiple is already lower than Visa&#39;s, Mastercard&#39;s (NYSE:MA), and Affirm&#39;s (NASDAQ:AFRM). Realistically, a segment growing at 818% year over year should probably get a higher multiple than these slower-growing companies&#39;, but we don&#39;t even need to speculate about what a fair multiple is, since we can reach Sea&#39;s current valuation by using 16x P/S in my model valuation.</p><p>One way this segment could grow even more is through the introduction of more products besides the mobile wallet. Sea noted in their recent earnings that they have started &#34;early initiatives in other digital financial services such as buy now pay later, digital bank, and insurtech.&#34; These guys sure know how to hop on the latest high growth trend.</p><p>Finally, there&#39;s the investments arm. Sea is investing in early-stage tech companies, especially in Southeast Asia. There&#39;s strong precedent for companies like Tencent (which is itself an investor in Sea) and Shopify (NYSE:SHOP) managing successful investment portfolios that ultimately factor meaningfully into their valuation. Right now Sea&#39;s investment arm is very early stage, so I don&#39;t include it in my valuation model. But it doesn&#39;t have to be factored in to justify the current share price. It&#39;s just one more area that might be worth a large part of Sea one day.</p><p><b>Conclusion</b></p><p>Looking at each of Sea&#39;s segments, my valuation model indicates that Sea is fairly valued today. However, my model doesn&#39;t account for the significant optionality of the newer segments. Just like e-commerce did over the last five years, FinTech (and/or investments) could grow to become a very large part of Sea&#39;s business. With the FinTech segment currently growing at 818% year over year, it doesn&#39;t take much imagination to see how this happens. Just another year or two of growth at something close to that rate will make the FinTech arm impossible for investors to ignore.</p><p>This optionality combined general strength in each business has allowed Sea to post an average revenue beat of 7% over the past year. Earnings haven&#39;t been as strong, and I expect that to be the main point of contention with my valuation model, as is the case for most unprofitable companies. In particular, I expect some readers will disagree with my valuation of the e-commerce segment. But even if you drop e-commerce all the way down to 5x P/S (a multiple seen today by much slower growing e-commerce companies) that implies 54% downside from today&#39;s prices. It&#39;s a steep drop for sure, but most companies in today&#39;s market would be looking at such a decline if one were to use the most conservative valuation standards possible.</p><p>Only fast-growing companies like Sea can quickly offset such a decline with revenue growth. As a result, the businesses with the most long-term potential will hardly ever trade at the most conservative valuation possible. And Sea certainly has long-term potential. It&#39;s one of the few high-growth companies I own that I could see reaching a trillion-dollar market cap this decade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106092668","content_text":"Sea Limited shares jumped more than 4% in morning trading.Also Read:Sea Limited: A Deep Dive To Understand The Recent SelloffSummarySea Limited is a highly diversified business firing on all cylinders in some of the fastest-growing economies in the world.I dive into each of its segments to understand the recent selloff and justify the current valuation.I consider Sea one of my ten highest conviction investments.kokkai/iStock Unreleased via Getty ImagesThesisA by-parts analysis of Sea Limited's (NYSE:SE) segments shows that its current valuation is roughly fair, but there are many long-term growth drivers that could surprise to the upside and drive very strong returns for years to come.IntroductionI recently wrote an article highlighting my top 10 stock picks for 2022. I'd already done an in-depth analysis of my other nine picks in other Seeking Alpha articles, so I thought it would be good to close out the year with an article about Sea.Furthermore, with shares down significantly over the past couple of months (but still slightly up for the year), I believe this article may prove timely. I don't speculate on short-term market movements, but I personally added to my Sea shares recently. It's one of my only losing positions that I didn't sell out of temporarily for tax-loss harvesting, and in this article, I will explain why Sea is such a high conviction holding for me.It's also worth noting that many professional investors seem to share this opinion. Sea is the 121st largest company in the world, but it's the16thmost popular holding among hedge funds. This implies that big money is overweight Sea, with 71% of shares held by institutions.Because Sea operates in many different areas, I will do a separate analysis of each of its operating segments to justify its current valuation and explain how that valuation could drive unexpectedly strong returns for years.GamingSea Limited's gaming segment Garena is best known for Free Fire, a mobile battle royale game that was developed in-house.The game was released in 2017 and has been very popular ever since. It currently has the second most monthly active users among all Android games globally. The game is available worldwide, but it's particularly popular in emerging markets like SEA, LATAM, and India, where it's been the highest-grossing mobile game for over two years.With the game having been popular for a long time already, there's some concern that gamers will move on to the next big thing. Although there are some mobile games that are older than Free Fire and still very popular - like Roblox, Clash of Clans, and Pokemon Go - there are many more that have been forgotten. Until Garena releases more games and proves that it can be successful with them too, there will always be questions about whether its studio is a one-hit wonder.Regardless, Garena is a critical part of Sea because it's the only profitable segment and it doubles a social platform that provides free advertising for Sea's non-gaming products. Cross-promotion is a huge competitive advantage for Sea.Thus, one reason for Sea's recent selloff could be the Q4 guidance implied for Garena.Source: Earnings Call PresentationIn Q2 this year, Garena raised its guidance to $4.5B-$4.7B for 2021 bookings (up from $4.3B-$4.5B). With the first three quarters already totaling $3.5B, this implies that Q4 bookings will come in at $1.0B-$1.2B, up between 0% and 20% year over year, and likely down sequentially. This is compared to 29% growth in the most recent quarter and 44% projected growth for the full year.While 20% isn't a terrible deceleration, 0% certainly is. Even 20% growth isn't spectacular compared to the historic levels. At the 10% midpoint, Garena's growth looks more similar to that of a mature company like Activision (NASDAQ:ATVI) or Zynga (NASDAQ:ZNGA) than a fast-growing company like Roblox (NYSE:RBLX).Garena's implied valuation should - and did - suffer as a result. While a fast-growing company like Roblox can command a high double-digit P/S multiple, Activision and Zynga trade at an average P/S multiple of just 4. Garena is slightly more profitable than them and probably has more risk to the upside, so I'll use a P/S multiple of 5 for my implied valuation. This implies a P/E of about 10 for a business growing at around 10%, which is very reasonable in today's market.This means Garena is worth $23.5B based on the high end of management's guidance.I believe this valuation is actually conservative for a few reasons:Next year has tough comps and growth could re-accelerate in the following years or even next year, especially if Garena releases a new hit game. The growth rate past next quarter is not based on explicit guidance from the company, only industry forecasts.The peer valuations I used are from companies also trading at the lower end of their valuation range for the past year.Garena has a good track record and is continuing to invest in Free Fire. One example of this is the recently released Free Fire MAX, which improves the experience for users with higher-end phones and even adds a metaverse-like customizable map called Craftland. To me, this implies that Garena believes Free Fire is still in the earlier part of its lifecycle.Although I'd obviously prefer that Garena develops more games in house, in the meantime it's still not a one-trick pony. In addition to Free Fire, Garena distributes games from third-party developers like Tencent (OTCMKTS:OTCPK:TCEHY). These are popular titles like League of Legends and Call of Duty, which meaningfully diversify Garena's revenue.E-CommerceSea's e-commerce platform Shopee is currently its big growth driver. This platform is often considered the Amazon (NASDAQ:AMZN) of Southeast Asia, and it recently expanded into more markets including Brazil.There's always some debate about who is really the Amazon of a region. Shopee certainly has competition, including from Alibaba's (NYSE:BABA) Lazada, Tokopedia in Indonesia, MercadoLibre (MELI) in Brazil, and even Amazon itself. With most of the competition being private or tucked away into a larger company, many of the competitors don't publish exact revenue numbers, which makes it difficult to measure the competition. Even Sea hasn't published explicit revenue numbers for some countries like Brazil.One neutral source that can be assessed is the Alexa site rank, which as its name suggests ranks sites by their popularity. Keep in mind that these are ranks, so a lower score is better.Source: The Author, compiled from AlexaShopee is very mobile-focused, but the above table only considers the website. To check App Store app ranks for the shopping category, we can use App Annie.Source: The Author, compiled from AppAnnieOn the mobile side, there's no need to look at the competition because Shopee is consistently the number one shopping app in every country listed. In a mobile-first world, this bodes very well. Even on the web side, Shopee wins out except in a few specific regions like LATAM and (barely) Indonesia, which have more local competitors.Of course, traffic doesn't always translate to GMV. But for a shopping app where most people will use the app to buy something, it's a decent proxy. A third party estimates that Shopee accounts for57%of all e-commerce in Southeast Asia. It's Shopee's dominance in the mobile app ranks and market share that make me consider it the Amazon of Southeast Asia.So why would a company with so much potential sell off?After the recent earnings report, some analysts expressed concern that Shopee is branching out into other countries like Poland and Mexico before validating its business model in the current markets. In these countries, Shopee has less of a presence; it's bounced between the 3-5 spots on the Mexico App Store for shopping apps, and between spots 1 and 3 in Poland. Although analysts hate uncertainty - and the CEO's comments that they don't have a concrete measure of success in these earlier stage countries won't help with that - Shopee has a history of entering new countries successfully and I am willing to give management some time to try expanding more. After all, if they're successful, then it could drive even more unexpected growth in the future.Another complaint from analysts was that the basket size (average purchase size) is trending down. While that could also have contributed to the recent selloff, it's hard to complain when the overall sales increased a lot despite a decrease in basket size.The company raised its guidance for e-commerce again in Q3, now guiding for $5.0B-$5.2B in 2021 e-commerce revenue. That's 75%-100% growth in Q4 and about 135% growth for the year. These are much more exciting numbers than the gaming side, although the guidance still implies a slight deceleration in Q4. But compared to Amazon's $340B in 2020 e-commerce sales, Shopee looks like it's just scratched the surface. E-commerce is at only11%penetration in Southeast Asia compared to18.7%in the USA, and Southeast Asia economies are generally growing faster than the USA's.Despite being in a blue skies industry, it's more difficult to value the e-commerce segment because it operates at a loss (whereas the gaming segment is highly profitable). Shopee's success is not guaranteed because it's not clear at this point whether the platform can become profitable while retaining its market share. Stocks like this tend to experience more volatility, which could partially explain the recent selloff.For unprofitable software companies, I like to use the Rule of 40 to assess the business. But it's difficult to apply this rule to a more cyclical e-commerce company with naturally lower margins. Even so, it's worth noting that despite being unprofitable, Sea's Rule of 40 score of 104 is better than most SaaS companies', and also better than e-commerce peers Amazon (21), MercadoLibre (73), and Alibaba (43).To understand Shopee's terminal valuation once it becomes profitable, we can look at industry peers. Amazon is one profitable and slower-growing peer, and it trades at 4x P/S. AWS pushes this number up, but Amazon's high exposure to first-party sales offsets that. Other e-commerce marketplace peers trade at similar valuations: Alibaba at 3x P/S, MercadoLibre at 9x P/S. All of these valuations are basically all-time lows.If Shopee keeps doubling revenue over the next couple of years (which it's easily done every year since 2016), becomes profitable (which scaling up tends to help with), and will have Amazon's P/S multiple in two years, then at 16 P/S today it would trade flat for two years. But if it keeps growing much faster than Amazon over a longer period like a decade, and/or if the overall industry multiples expand to more normal historical levels, then even at 16x P/S this segment has potential upside. On the other hand, if it stops growing or never becomes profitable then investors will be very disappointed at any P/S.Given this wide range of outcomes, each person is going to have their own way of valuing this segment. For me, when I look at Shopee's mobile dominance, relatively small current size, the funding coming in from Garena, and the precedent set by Amazon, Alibaba, and MercadoLibre for the sustainable long-term success of this business model, I am optimistic about this segment's future. I recognize that it's currently an unprofitable and thus risky segment, but I also see the massive potential.So I am happy paying a 16x P/S multiple, which values the e-commerce segment at $83.2B. Some people will call that way too high, and those people will probably never get a chance to invest in this company, for better or for worse.Thus, with just Garena and Shopee, I have Sea being worth $106.7B. Its current market cap is $123.1B. To account for the difference, let's look at the other parts of Sea.FinTech & InvestmentsThe easiest addition to my computed valuation is Sea's $12B cash pile, partially offset by $4B in debt. This adds some nice optionality to the company and ensures that it won't be bankrupt any time soon despite losing money with Shopee. Adding in the $8B cash difference puts my computed valuation at $114.7B, just $8.4B short of the actual valuation.Then there is Sea's FinTech arm, SeaMoney. The main product here is a mobile wallet, which was responsible for $4.6B in payment volume in the last quarter (~$20B over a year). This segment accounted for $132 million in Q3 revenue, up a whopping 818% year over year. This implies a \"take rate\" of 2.9%, which is even better than established FinTech companies like Visa (V). Because of this high take rate, I'm not worried about SeaMoney losing money while it scales.Despite SeaMoney being a small segment, it's now reaching a point where it can be factored into the valuation. Maybe it's only worth a couple of billion, but this is just the start. Five years ago, nobody would have expected that an e-commerce platform accounting for 5% of Sea's sales would today be worth more than the gaming segment. But Sea's management - combined with Garena's ability to fund new segments and drive their viral adoption - made it happen. It's certainly not guaranteed that Sea will have the same success with FinTech, but there is precedent for it.If one day this segment is worth a third or more of Sea (in 2020, FinTech accounted for 36% of MercadoLibre's revenue) then getting it for just 7% of the business today will be well worth it, even if that implies a somewhat high 16x P/S multiple for the segment today. Actually, this multiple is already lower than Visa's, Mastercard's (NYSE:MA), and Affirm's (NASDAQ:AFRM). Realistically, a segment growing at 818% year over year should probably get a higher multiple than these slower-growing companies', but we don't even need to speculate about what a fair multiple is, since we can reach Sea's current valuation by using 16x P/S in my model valuation.One way this segment could grow even more is through the introduction of more products besides the mobile wallet. Sea noted in their recent earnings that they have started \"early initiatives in other digital financial services such as buy now pay later, digital bank, and insurtech.\" These guys sure know how to hop on the latest high growth trend.Finally, there's the investments arm. Sea is investing in early-stage tech companies, especially in Southeast Asia. There's strong precedent for companies like Tencent (which is itself an investor in Sea) and Shopify (NYSE:SHOP) managing successful investment portfolios that ultimately factor meaningfully into their valuation. Right now Sea's investment arm is very early stage, so I don't include it in my valuation model. But it doesn't have to be factored in to justify the current share price. It's just one more area that might be worth a large part of Sea one day.ConclusionLooking at each of Sea's segments, my valuation model indicates that Sea is fairly valued today. However, my model doesn't account for the significant optionality of the newer segments. Just like e-commerce did over the last five years, FinTech (and/or investments) could grow to become a very large part of Sea's business. With the FinTech segment currently growing at 818% year over year, it doesn't take much imagination to see how this happens. Just another year or two of growth at something close to that rate will make the FinTech arm impossible for investors to ignore.This optionality combined general strength in each business has allowed Sea to post an average revenue beat of 7% over the past year. Earnings haven't been as strong, and I expect that to be the main point of contention with my valuation model, as is the case for most unprofitable companies. In particular, I expect some readers will disagree with my valuation of the e-commerce segment. But even if you drop e-commerce all the way down to 5x P/S (a multiple seen today by much slower growing e-commerce companies) that implies 54% downside from today's prices. It's a steep drop for sure, but most companies in today's market would be looking at such a decline if one were to use the most conservative valuation standards possible.Only fast-growing companies like Sea can quickly offset such a decline with revenue growth. As a result, the businesses with the most long-term potential will hardly ever trade at the most conservative valuation possible. And Sea certainly has long-term potential. It's one of the few high-growth companies I own that I could see reaching a trillion-dollar market cap this decade.","news_type":1},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009827979,"gmtCreate":1640617456496,"gmtModify":1676533529601,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"keeping the faith in <a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$</a>!!","listText":"keeping the faith in <a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$</a>!!","text":"keeping the faith in $Tiger Brokers(TIGR)$!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009827979","repostId":"1108682296","repostType":2,"isVote":1,"tweetType":1,"viewCount":482,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869576446,"gmtCreate":1632311428985,"gmtModify":1676530748993,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"basics are good!","listText":"basics are good!","text":"basics are good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/869576446","repostId":"1178869256","repostType":4,"repost":{"id":"1178869256","pubTimestamp":1632215759,"share":"https://www.laohu8.com/m/news/1178869256?lang=&edition=full","pubTime":"2021-09-21 17:15","market":"us","language":"en","title":"7 Back-To-School Market Lessons For Investors","url":"https://stock-news.laohu8.com/highlight/detail?id=1178869256","media":"seekingalpha","summary":"Summary\n\nSummer is fading and fall is kicking in.\nThat means traders and portfolio managers will be ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Summer is fading and fall is kicking in.</li>\n <li>That means traders and portfolio managers will be back behind their turrets watching the screens flicker.</li>\n <li>Here are some key factors and market perspectives to consider.</li>\n</ul>\n<p>Back from vacations. Beach houses seem like distant memories. Kids are off to school. The days are getting shorter. Summer is fading and fall is kicking in. That means traders and portfolio managers will be back behind their turrets watching the screens flicker. It’s the final run into the end of the year. So, what do we think from here until New Year’s Eve? Here are some key factors and market perspectives to consider.</p>\n<p><b>1. COVID-19 Still Biggest Risk</b></p>\n<p>A lot of the worries can be traced back to the Delta variant. We certainly saw the impact in this latest jobs print here in the US. The leisure and hospitality segment of the workforce saw almost no jobs added for the month of August. Not surprisingly, August also saw a surge in case counts related to the Delta variant. It’s easy to see the spillover impact from COVID, but let’s keep it in perspective:</p>\n<ul>\n <li>Note that each subsequent surge in case counts has seen less and less of an economic impact.</li>\n <li>Companies and the economy have broadly learned to cope with the virus, and earnings have been nothing short of spectacular.</li>\n <li>Policy makers are shifting tack with a greater focus on vaccinations, understanding that coexisting with the virus is the likely path forward.</li>\n <li>The private sector is leading the charge as vaccination mandates become more the norm than the exception. This should help those vaccination penetration rates push higher.</li>\n</ul>\n<p><b>Florida barometer:</b>We’ve heard worries that a back-to-school surge and its spillover effects may adversely impact the real economy once again. We continue to point to Florida as the key state to monitor. Why? Because it was one of the first states in the US to see a sharp rise in Delta-variant-related case counts. More importantly, Florida took the fewest steps to mitigate the spread, highlighted by the signing of an executive order barring mask mandates. Lastly, back-to-school season started several weeks ago, marking a key barometer for the future path of in-person learning. What are we seeing? A cresting in case counts and no real discernible difference in the COVID-related data in school districts that are open and engaging full in-person learning versus those still not open or leveraging some version of a hybrid policy.</p>\n<p><b>Boosters:</b>The risk we do want to highlight is the need for booster shots. If mRNA vaccine efficacy is deteriorating faster than anticipated, the ability to completely win the battle against the virus will become that much harder. And if we assume mutations will remain the norm, this battle becomes even more complex. The strategy going forward will certainly be coexisting if this is the case.</p>\n<p><b>2. Taper, No Tantrum</b></p>\n<p><i>We do not expect the Fed “withdrawing liquidity” (i.e. tapering) to become a major headwind. Rate hikes will matter more.</i>We believe tapering is more a matter of misunderstood monetary policy than anything else. Because of experiences like that of 2013, many of us think Taper Tantrum whenever there is talk of the Fed reducing its asset purchases. However, there are a few major differences in today’s economy versus other tapering times. For example, in 2013 there was slack in the economy. The output gap back in 2013 was still pointing to an economy running well below potential. Withdrawing marginal support at a time when the economy was still in recovery mode should certainly elicit an adverse reaction. Currently, the Congressional Budget Office estimates the output gap has closed, indicating a lack of slack in the US economy. Also, recall that asset purchases during the Great Financial Crisis were all about removing illiquid mortgage-related assets from banks’ balance sheets in an attempt to free up capital and restart lending. This is not an issue today.</p>\n<p><b>3. Learn Your Liquidity</b></p>\n<p>Liquidity is a word that gets thrown around quite a bit. But it’s often used in a manner that is misguided. There are three forms of liquidity:</p>\n<ul>\n <li><b>Systemic Liquidity</b>– the resources within the banking system that are used to settle inter-bank payments. This system is actively managed by the Fed and is not fungible outside of the banking system in any way. Only the Fed can add or withdraw liquidity from this system.</li>\n <li><b>Credit Liquidity</b>– the ability of individuals and corporations to increase debt or roll over existing liabilities. Banks create credit and this credit creation is independent of reserves. Our fractional reserves-based system is often misunderstood within this context and often creates confusion with this concept. Sure, banks have regulatory issues that can constrain lending. But if banks want to lend, they will lend. If I have the risk appetite to borrow and you have the risk appetite to lend, credit liquidity will find a way to make this happen – independent of the Fed’s balance sheet or systemic liquidity.</li>\n <li><b>Transactional Liquidity</b>– the ease with which investors can buy and sell financial assets. This backdrop is often influenced by market structure or regulatory issues. But in the end, the Fed’s balance sheet has little to do with it. This form of liquidity is often pro-cyclical, but ultimately, transactional liquidity is a function of risk appetite from you and me.</li>\n</ul>\n<p>Why run through all of this? Two of the three forms of liquidity that we often conflate are a product of risk appetite. A risk appetite that is driven by you and me, independent of the Fed’s balance sheet. The third – systemic liquidity – is an endogenous issue. One that cannot find its way directly into the equity, currency or bond markets. So, if the Fed’s balance sheet really isn’t a driver of liquidity, then why all of the hoopla surrounding tapering? Because tapering matters to the extent that market participants believe it matters. A placebo effect. We are conditioned to think it matters. So as long as we believe this, then it matters.</p>\n<p>Here is one other point to highlight regarding tapering concerns: Chair Powell and the Fed have been very articulate in their forward guidance. Tapering is coming – that has been made crystal clear. The timing and size are still up for debate. But more importantly, they made a concerted effort to de-link the relationship between tapering and interest rate hikes during their Jackson Hole meeting comments. These two events are disconnected and mutually exclusive. The Fed will taper and step back and reassess the economy. Rate hikes will follow accordingly should they be appropriate. Rate hikes matter far more than tapering and the commencement of any hiking cycle is still quite a ways off in the future.</p>\n<p><b>4. More Demand, Less Supply of Treasuries</b></p>\n<p><i>Who will buy all of these Treasuries once the Fed steps away?</i>Central banks have certainly been significant buyers of bonds over the years. Tapering leads to a drop in this marginal buyer, implying that interest rates will shoot up from a lack of demand. This has been a rallying cry of interest rate bears for several years, and this simply has never panned out. Gross Treasury issuance projections are expected to decline meaningfully in 2022. This decline in issuance will far outpace the expected reduction in net purchases by the Fed, meaning that supply will be falling at a faster pace than demand. Moreover, the marginal buyer coming from the price-insensitive camp is growing by leaps and bounds. There are still plenty of factions – think insurance companies, pension funds, banks and their regulatory related requirements, etc. – that have to own high quality fixed income assets for one reason or another. There is simply not enough supply of high quality liquid assets out there to satiate this need. “Who is going to buy all of these Treasuries?” has been a fool’s errand trade.</p>\n<p><b>5. Peak Momentum Doesn’t Mean Peak Growth</b></p>\n<p>Sure, the policy/reopening impulse may have peaked. But it’s far from over. We certainly cannot extrapolate growth going up and to the right forever. However, don’t confuse slowing momentum with a lower absolute level of growth. The recent Delta surge has put a near-term damper on growth prospects. But we are simply trading more COVID risk now for less in the future. We think this directly translates to the real economy: fatter and flatter (think of a sine wave). A little less near-term strength (flatter) for a little longer expansion (fatter). Delayed but not derailed.</p>\n<p>Government policy-response impulse is certainly fading from a rate of change perspective. China is tightening and the Fed will be tapering. Fiscal tailwinds in almost every country will turn to headwinds in 2022. But while these fiscal tailwinds fade, they are far from over. Note the Child Tax Credit payments, back-to-school spending, rising wages (especially for the cohorts with the strongest marginal propensity to consume), European recovery-fund payments, and infrastructure spending. Add in inventory restocking, an emerging capital expenditure1(CAPEX)cycle, increased vaccination penetration rates, and further progress on the economic reopening, and it’s clear that the impulse may have peaked but it’s far from over. And we remind our readers that all of this US fiscal cliff talk is occurring at a time when the US is effectively operating with a closed output gap. This is a very different economic context from previous cycles, which typically saw slack still in the economy.</p>\n<p><b>6. Shift from Demand Side to Supply Side?</b></p>\n<p>Might we finally see a shift from demand side policies towards supply side catalysts? Will the strains that have emerged and magnified in the heart of the COVID crisis prove to be the catalyst for this handoff? While a true CapEx cycle has always been wishful thinking, might this time be any different? It’s quite possible that this time around, corporations have adjusted and learned to deal with this new demand environment. Companies certainly learned a thing or two in the past 18 months. These efficiency gains do not simply go away. Rather, they should improve operating leverage and become permanent. And if this shift from demand side support to supply side growth manifests in a real CapEx expansion, might growth expectations be too low for 2022? And remember, one man’s CapEx is another’s earnings per share2(EPS). Economic and earnings growth expectations may still be underappreciated.</p>\n<p>As we stated earlier, COVID-19 is the new enemy. We are trained to assume a reversion to the mean in terms of past experiences with peak growth. However, this time could very well prove different. We could see a durably higher level of nominal growth.3Of course, this is certainly not a base case scenario for the markets in 2022. But remember: Corporate America’s earnings performance has been genuinely spectacular for the second quarter. They’ve learned a thing or two in the COVID economy. Never bet against the US consumer. Never bet against the dynamic and flexible US private sector.</p>\n<p><b>7. A September to Remember?</b></p>\n<p>September is shaping up to be quite a month in the US capital. Below is a list of key DC happenings that will certainly provide some interesting headlines:</p>\n<ul>\n <li>September 6 – $300 unemployment benefits expire</li>\n <li>September 13 – Senate returns from break</li>\n <li>September 15 – Committees deadline for input on the $3.5T reconciliation bill</li>\n <li>September 20 – House returns from break</li>\n <li>September 27 – Pelosi commitment to hold a vote on the $1.2T bipartisan infrastructure deal</li>\n <li>September 30 – Fiscal year 2021 ends and a continuing resolution is needed to avoid a government shutdown</li>\n <li>September – Decision on Powell replacement and Fed picks expected</li>\n <li>October – Debt limit needs to be addressed</li>\n</ul>\n<p>The political theater kicked into high gear at the end of August when ten moderate House Democrats threatened to withhold their votes on the $3.5T budget resolution that had been previously approved by the Senate. This is important as it was needed to unlock the budget reconciliation process. Moderates demanded that the Speaker of the House, Nancy Pelosi, have a vote on the bipartisan Senate-approved infrastructure bill before any vote on the $3.5T budget resolution, which has been also approved by the Senate. Speaker Pelosi acquiesced and made a commitment to hold a vote on the Senate-passed bipartisan infrastructure bill no later than September 27. In return, moderates supported the budget resolution as part of the give and take.</p>\n<p>Congressional approval of the budget resolution has enabled the $3.5T human infrastructure proposal to move forward, but the road ahead will certainly be a slog. The budget resolution is a non-binding one, giving cover to moderate Democrats who voted to support the procedure but who may not support the final act due at the end of the month. With only a four-seat majority there are at least nine moderate House Democrats who won’t support the entire $3.5T package. Complicating the issue even more, the reconciliation bill must also pass the Senate where Senators Manchin and Sinema have made it clear they won’t support the entire $3.5T bill. In addition, when the House calls for a vote on the bipartisan infrastructure package later this month, the Speaker could get some pushback from progressive members of her caucus who have been demanding action on the large package prior to a vote on the bipartisan bill. If the Speaker keeps to her commitment to the moderates, it’s hard to see the progressives tanking a $1T proposal, which represents not only a major step forward for the USA’s crumbling infrastructure, but also what will be a big win for President Biden.</p>\n<p>Plenty of political tape bombs could come out of September. And we did not even discuss the debt ceiling and the government shutdown. While we view these two events as headline risk, markets have grown accustomed to the political theater involved with these two issues. With Democrats in charge of Washington, DC (House, Senate and White House), the last thing they need is to be blamed for a default and shutdown of the US government in front of the 2022 midterms. We expect any market-related weakness from a knee-jerk reaction to a headline to prove short-lived. Political gamesmanship is rarely lasting on the markets.</p>\n<p><b>In Summary: Stay the Course</b></p>\n<p>The market’s stretch run until the end of the year certainly will face some challenges. We have not seen a proper correction at all this year and history suggests at least three should occur, on average. Might we finally get at least one? “Buy the dip” has certainly been the modus operandi all year. We aren’t in the business of calling short-term market corrections. Rather, we are in the business of looking for cyclical shifts that lead to an end to economic expansions and market upcycles. Given the worries outlined above and the supportive measures still acting as tailwinds, we believe markets are still poised to grind higher.</p>\n<p>Sure, the ride may be a bit bumpier as we weave through a political battlefield and a world where we need to learn to coexist with a virus that may never leave us. But we don’t find enough evidence to flip bearish risk assets. Stay the course for the rest of the year. It’s all about earnings. Sure, they will ease. They have to. But we don’t see them underwhelming just yet.</p>\n<p>1Capital expenditures (CAPEX) are funds used by a company to acquire, upgrade, and maintain physical assets such as property, buildings, and technology.</p>\n<p>2Earnings per share (EPS) is a company’s net profit divided by the number of common shares it has outstanding.</p>\n<p>3Nominal growth refers to the nominal gross domestic product(GDP)evaluated at current market prices. Nominal differs from real GDP in that it includes changes in prices due to inflation, which reflects the rate of price increases in an economy.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Back-To-School Market Lessons For Investors</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n7 Back-To-School Market Lessons For Investors\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-21 17:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4456272-7-back-to-school-market-lessons-for-investors><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nSummer is fading and fall is kicking in.\nThat means traders and portfolio managers will be back behind their turrets watching the screens flicker.\nHere are some key factors and market ...</p>\n\n<a href=\"https://seekingalpha.com/article/4456272-7-back-to-school-market-lessons-for-investors\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4456272-7-back-to-school-market-lessons-for-investors","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178869256","content_text":"Summary\n\nSummer is fading and fall is kicking in.\nThat means traders and portfolio managers will be back behind their turrets watching the screens flicker.\nHere are some key factors and market perspectives to consider.\n\nBack from vacations. Beach houses seem like distant memories. Kids are off to school. The days are getting shorter. Summer is fading and fall is kicking in. That means traders and portfolio managers will be back behind their turrets watching the screens flicker. It’s the final run into the end of the year. So, what do we think from here until New Year’s Eve? Here are some key factors and market perspectives to consider.\n1. COVID-19 Still Biggest Risk\nA lot of the worries can be traced back to the Delta variant. We certainly saw the impact in this latest jobs print here in the US. The leisure and hospitality segment of the workforce saw almost no jobs added for the month of August. Not surprisingly, August also saw a surge in case counts related to the Delta variant. It’s easy to see the spillover impact from COVID, but let’s keep it in perspective:\n\nNote that each subsequent surge in case counts has seen less and less of an economic impact.\nCompanies and the economy have broadly learned to cope with the virus, and earnings have been nothing short of spectacular.\nPolicy makers are shifting tack with a greater focus on vaccinations, understanding that coexisting with the virus is the likely path forward.\nThe private sector is leading the charge as vaccination mandates become more the norm than the exception. This should help those vaccination penetration rates push higher.\n\nFlorida barometer:We’ve heard worries that a back-to-school surge and its spillover effects may adversely impact the real economy once again. We continue to point to Florida as the key state to monitor. Why? Because it was one of the first states in the US to see a sharp rise in Delta-variant-related case counts. More importantly, Florida took the fewest steps to mitigate the spread, highlighted by the signing of an executive order barring mask mandates. Lastly, back-to-school season started several weeks ago, marking a key barometer for the future path of in-person learning. What are we seeing? A cresting in case counts and no real discernible difference in the COVID-related data in school districts that are open and engaging full in-person learning versus those still not open or leveraging some version of a hybrid policy.\nBoosters:The risk we do want to highlight is the need for booster shots. If mRNA vaccine efficacy is deteriorating faster than anticipated, the ability to completely win the battle against the virus will become that much harder. And if we assume mutations will remain the norm, this battle becomes even more complex. The strategy going forward will certainly be coexisting if this is the case.\n2. Taper, No Tantrum\nWe do not expect the Fed “withdrawing liquidity” (i.e. tapering) to become a major headwind. Rate hikes will matter more.We believe tapering is more a matter of misunderstood monetary policy than anything else. Because of experiences like that of 2013, many of us think Taper Tantrum whenever there is talk of the Fed reducing its asset purchases. However, there are a few major differences in today’s economy versus other tapering times. For example, in 2013 there was slack in the economy. The output gap back in 2013 was still pointing to an economy running well below potential. Withdrawing marginal support at a time when the economy was still in recovery mode should certainly elicit an adverse reaction. Currently, the Congressional Budget Office estimates the output gap has closed, indicating a lack of slack in the US economy. Also, recall that asset purchases during the Great Financial Crisis were all about removing illiquid mortgage-related assets from banks’ balance sheets in an attempt to free up capital and restart lending. This is not an issue today.\n3. Learn Your Liquidity\nLiquidity is a word that gets thrown around quite a bit. But it’s often used in a manner that is misguided. There are three forms of liquidity:\n\nSystemic Liquidity– the resources within the banking system that are used to settle inter-bank payments. This system is actively managed by the Fed and is not fungible outside of the banking system in any way. Only the Fed can add or withdraw liquidity from this system.\nCredit Liquidity– the ability of individuals and corporations to increase debt or roll over existing liabilities. Banks create credit and this credit creation is independent of reserves. Our fractional reserves-based system is often misunderstood within this context and often creates confusion with this concept. Sure, banks have regulatory issues that can constrain lending. But if banks want to lend, they will lend. If I have the risk appetite to borrow and you have the risk appetite to lend, credit liquidity will find a way to make this happen – independent of the Fed’s balance sheet or systemic liquidity.\nTransactional Liquidity– the ease with which investors can buy and sell financial assets. This backdrop is often influenced by market structure or regulatory issues. But in the end, the Fed’s balance sheet has little to do with it. This form of liquidity is often pro-cyclical, but ultimately, transactional liquidity is a function of risk appetite from you and me.\n\nWhy run through all of this? Two of the three forms of liquidity that we often conflate are a product of risk appetite. A risk appetite that is driven by you and me, independent of the Fed’s balance sheet. The third – systemic liquidity – is an endogenous issue. One that cannot find its way directly into the equity, currency or bond markets. So, if the Fed’s balance sheet really isn’t a driver of liquidity, then why all of the hoopla surrounding tapering? Because tapering matters to the extent that market participants believe it matters. A placebo effect. We are conditioned to think it matters. So as long as we believe this, then it matters.\nHere is one other point to highlight regarding tapering concerns: Chair Powell and the Fed have been very articulate in their forward guidance. Tapering is coming – that has been made crystal clear. The timing and size are still up for debate. But more importantly, they made a concerted effort to de-link the relationship between tapering and interest rate hikes during their Jackson Hole meeting comments. These two events are disconnected and mutually exclusive. The Fed will taper and step back and reassess the economy. Rate hikes will follow accordingly should they be appropriate. Rate hikes matter far more than tapering and the commencement of any hiking cycle is still quite a ways off in the future.\n4. More Demand, Less Supply of Treasuries\nWho will buy all of these Treasuries once the Fed steps away?Central banks have certainly been significant buyers of bonds over the years. Tapering leads to a drop in this marginal buyer, implying that interest rates will shoot up from a lack of demand. This has been a rallying cry of interest rate bears for several years, and this simply has never panned out. Gross Treasury issuance projections are expected to decline meaningfully in 2022. This decline in issuance will far outpace the expected reduction in net purchases by the Fed, meaning that supply will be falling at a faster pace than demand. Moreover, the marginal buyer coming from the price-insensitive camp is growing by leaps and bounds. There are still plenty of factions – think insurance companies, pension funds, banks and their regulatory related requirements, etc. – that have to own high quality fixed income assets for one reason or another. There is simply not enough supply of high quality liquid assets out there to satiate this need. “Who is going to buy all of these Treasuries?” has been a fool’s errand trade.\n5. Peak Momentum Doesn’t Mean Peak Growth\nSure, the policy/reopening impulse may have peaked. But it’s far from over. We certainly cannot extrapolate growth going up and to the right forever. However, don’t confuse slowing momentum with a lower absolute level of growth. The recent Delta surge has put a near-term damper on growth prospects. But we are simply trading more COVID risk now for less in the future. We think this directly translates to the real economy: fatter and flatter (think of a sine wave). A little less near-term strength (flatter) for a little longer expansion (fatter). Delayed but not derailed.\nGovernment policy-response impulse is certainly fading from a rate of change perspective. China is tightening and the Fed will be tapering. Fiscal tailwinds in almost every country will turn to headwinds in 2022. But while these fiscal tailwinds fade, they are far from over. Note the Child Tax Credit payments, back-to-school spending, rising wages (especially for the cohorts with the strongest marginal propensity to consume), European recovery-fund payments, and infrastructure spending. Add in inventory restocking, an emerging capital expenditure1(CAPEX)cycle, increased vaccination penetration rates, and further progress on the economic reopening, and it’s clear that the impulse may have peaked but it’s far from over. And we remind our readers that all of this US fiscal cliff talk is occurring at a time when the US is effectively operating with a closed output gap. This is a very different economic context from previous cycles, which typically saw slack still in the economy.\n6. Shift from Demand Side to Supply Side?\nMight we finally see a shift from demand side policies towards supply side catalysts? Will the strains that have emerged and magnified in the heart of the COVID crisis prove to be the catalyst for this handoff? While a true CapEx cycle has always been wishful thinking, might this time be any different? It’s quite possible that this time around, corporations have adjusted and learned to deal with this new demand environment. Companies certainly learned a thing or two in the past 18 months. These efficiency gains do not simply go away. Rather, they should improve operating leverage and become permanent. And if this shift from demand side support to supply side growth manifests in a real CapEx expansion, might growth expectations be too low for 2022? And remember, one man’s CapEx is another’s earnings per share2(EPS). Economic and earnings growth expectations may still be underappreciated.\nAs we stated earlier, COVID-19 is the new enemy. We are trained to assume a reversion to the mean in terms of past experiences with peak growth. However, this time could very well prove different. We could see a durably higher level of nominal growth.3Of course, this is certainly not a base case scenario for the markets in 2022. But remember: Corporate America’s earnings performance has been genuinely spectacular for the second quarter. They’ve learned a thing or two in the COVID economy. Never bet against the US consumer. Never bet against the dynamic and flexible US private sector.\n7. A September to Remember?\nSeptember is shaping up to be quite a month in the US capital. Below is a list of key DC happenings that will certainly provide some interesting headlines:\n\nSeptember 6 – $300 unemployment benefits expire\nSeptember 13 – Senate returns from break\nSeptember 15 – Committees deadline for input on the $3.5T reconciliation bill\nSeptember 20 – House returns from break\nSeptember 27 – Pelosi commitment to hold a vote on the $1.2T bipartisan infrastructure deal\nSeptember 30 – Fiscal year 2021 ends and a continuing resolution is needed to avoid a government shutdown\nSeptember – Decision on Powell replacement and Fed picks expected\nOctober – Debt limit needs to be addressed\n\nThe political theater kicked into high gear at the end of August when ten moderate House Democrats threatened to withhold their votes on the $3.5T budget resolution that had been previously approved by the Senate. This is important as it was needed to unlock the budget reconciliation process. Moderates demanded that the Speaker of the House, Nancy Pelosi, have a vote on the bipartisan Senate-approved infrastructure bill before any vote on the $3.5T budget resolution, which has been also approved by the Senate. Speaker Pelosi acquiesced and made a commitment to hold a vote on the Senate-passed bipartisan infrastructure bill no later than September 27. In return, moderates supported the budget resolution as part of the give and take.\nCongressional approval of the budget resolution has enabled the $3.5T human infrastructure proposal to move forward, but the road ahead will certainly be a slog. The budget resolution is a non-binding one, giving cover to moderate Democrats who voted to support the procedure but who may not support the final act due at the end of the month. With only a four-seat majority there are at least nine moderate House Democrats who won’t support the entire $3.5T package. Complicating the issue even more, the reconciliation bill must also pass the Senate where Senators Manchin and Sinema have made it clear they won’t support the entire $3.5T bill. In addition, when the House calls for a vote on the bipartisan infrastructure package later this month, the Speaker could get some pushback from progressive members of her caucus who have been demanding action on the large package prior to a vote on the bipartisan bill. If the Speaker keeps to her commitment to the moderates, it’s hard to see the progressives tanking a $1T proposal, which represents not only a major step forward for the USA’s crumbling infrastructure, but also what will be a big win for President Biden.\nPlenty of political tape bombs could come out of September. And we did not even discuss the debt ceiling and the government shutdown. While we view these two events as headline risk, markets have grown accustomed to the political theater involved with these two issues. With Democrats in charge of Washington, DC (House, Senate and White House), the last thing they need is to be blamed for a default and shutdown of the US government in front of the 2022 midterms. We expect any market-related weakness from a knee-jerk reaction to a headline to prove short-lived. Political gamesmanship is rarely lasting on the markets.\nIn Summary: Stay the Course\nThe market’s stretch run until the end of the year certainly will face some challenges. We have not seen a proper correction at all this year and history suggests at least three should occur, on average. Might we finally get at least one? “Buy the dip” has certainly been the modus operandi all year. We aren’t in the business of calling short-term market corrections. Rather, we are in the business of looking for cyclical shifts that lead to an end to economic expansions and market upcycles. Given the worries outlined above and the supportive measures still acting as tailwinds, we believe markets are still poised to grind higher.\nSure, the ride may be a bit bumpier as we weave through a political battlefield and a world where we need to learn to coexist with a virus that may never leave us. But we don’t find enough evidence to flip bearish risk assets. Stay the course for the rest of the year. It’s all about earnings. Sure, they will ease. They have to. But we don’t see them underwhelming just yet.\n1Capital expenditures (CAPEX) are funds used by a company to acquire, upgrade, and maintain physical assets such as property, buildings, and technology.\n2Earnings per share (EPS) is a company’s net profit divided by the number of common shares it has outstanding.\n3Nominal growth refers to the nominal gross domestic product(GDP)evaluated at current market prices. Nominal differs from real GDP in that it includes changes in prices due to inflation, which reflects the rate of price increases in an economy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":81,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":167082072,"gmtCreate":1624239497796,"gmtModify":1703831226438,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and comment for good luck! ?","listText":"give a like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/167082072","repostId":"1154249454","repostType":4,"isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3558429994510199","authorId":"3558429994510199","name":"JacksonLaw","avatar":"https://static.tigerbbs.com/e2b2e572e31a32129558022e7bef07f0","crmLevel":2,"crmLevelSwitch":0},"content":"Pls do back to me, thanks","text":"Pls do back to me, thanks","html":"Pls do back to me, thanks"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138682747,"gmtCreate":1621934468689,"gmtModify":1704364701626,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and reply for good luck! ?","listText":"give a like and reply for good luck! ?","text":"give a like and reply for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/138682747","repostId":"1162584877","repostType":4,"isVote":1,"tweetType":1,"viewCount":32,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3580489378983205","authorId":"3580489378983205","name":"cheeyang","avatar":"https://static.tigerbbs.com/08fa982f605ab633c4bdab795e3394fc","crmLevel":2,"crmLevelSwitch":1},"content":"for the good luck ?","text":"for the good luck ?","html":"for the good luck ?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139999736,"gmtCreate":1621581604425,"gmtModify":1704360019005,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"good read","listText":"good read","text":"good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/139999736","repostId":"1188302841","repostType":4,"isVote":1,"tweetType":1,"viewCount":66,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134567103,"gmtCreate":1622249300002,"gmtModify":1704182165579,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a&nbsp;like and comment for good luck! ?","listText":"give a&nbsp;like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/134567103","repostId":"2138948877","repostType":4,"repost":{"id":"2138948877","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1622215813,"share":"https://www.laohu8.com/m/news/2138948877?lang=&edition=full","pubTime":"2021-05-28 23:30","market":"us","language":"en","title":"The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever","url":"https://stock-news.laohu8.com/highlight/detail?id=2138948877","media":"Investors","summary":"Vacation trends reveal shifts toward privacy, luxury and family, continuing a transformative period for leisure and travel stocks.","content":"<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time\">2021-05-28 23:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WGO":"温尼巴格实业"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138948877","content_text":"Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like Airbnb that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.Leisure, Travel Industry StocksShares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.Airline stocks like American Airlines, United Airlines and Delta Air Lines surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.Cruise stocks like Carnival, Royal Caribbean and Norwegian Cruise Line are showing similar patterns.Meanwhile, shares of boat makers MarineMax and Brunswick as well as RV makers Winnebago and Thor Industries need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.Hotel leader Marriott has been less volatile and is forming a base, though earnings and sales have yet to fully recover.Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from Expedia rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.When Luxury Means More PrivacyLuxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.Private jet leasing company NetJets, which is owned by Berkshire Hathaway, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.Vacation Shift Favors These Travel StocksHotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes & Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.The Homes & Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.Seaworthy Travel Stocks Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick as well as sport boat maker Malibu Boats.\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.Travel Stocks For Being Alone TogetherThe desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.\"The rediscovery of America will continue this summer,\" Weissman said.The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.Work-Life RebalanceAs people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"Future Of Business Travel?That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.Experts say fewer workers may fly for one-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in one house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":54,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115767054,"gmtCreate":1623031531278,"gmtModify":1704194637727,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and comment for good luck! ?","listText":"give a like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/115767054","repostId":"2141926289","repostType":4,"isVote":1,"tweetType":1,"viewCount":12,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573817267543490","authorId":"3573817267543490","name":"QINGG","avatar":"https://static.tigerbbs.com/ce35fdb1dd66a012fd9571faa0ab4808","crmLevel":2,"crmLevelSwitch":0},"content":"Pls reply to this mSg ty","text":"Pls reply to this mSg ty","html":"Pls reply to this mSg ty"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188865106,"gmtCreate":1623428412605,"gmtModify":1704203582066,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"fundamentals will always be the way to go","listText":"fundamentals will always be the way to go","text":"fundamentals will always be the way to go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/188865106","repostId":"1198311684","repostType":4,"repost":{"id":"1198311684","pubTimestamp":1623415805,"share":"https://www.laohu8.com/m/news/1198311684?lang=&edition=full","pubTime":"2021-06-11 20:50","market":"us","language":"en","title":"Opinion: Stock investors now have come to a cliff in the road — and options are limited ","url":"https://stock-news.laohu8.com/highlight/detail?id=1198311684","media":"MarketWatch","summary":"Fundamental things haven’t applied to the U.S. market but that seems about to change.\n\nThe coronavir","content":"<blockquote>\n <b>Fundamental things haven’t applied to the U.S. market but that seems about to change.</b>\n</blockquote>\n<p>The coronavirus pandemic has been excellent for investors, but most now realize that the stock market’s extraordinary performance is not based on fundamentals, which ceased to matter some time ago.</p>\n<p>Central banks have been driving asset prices with massive liquidity infusions and zero interest rates. Consumption and corporate earnings are underpinned by large government transfer payments, fiscal stimulus and industry support.</p>\n<p>Will it last? The consensus is that most assets are overpriced. Prices ultimately are the present value of future cash flows. Authorities have manipulated the discount rate but altering underlying long-term cash flows, which are driven by the real economy, is more difficult. Low volatility, engineered by central banks, also encourages exuberant prices. At some stage, profligate government deficits may be reigned by either winding back spending or increasing taxes. These policies may also drive inflation, requiring tighter monetary policy and higher rates.&nbsp;</p>\n<p>Currently high stock prices expose investors to the risk of a sudden correction, when the game of musical chairs stops unexpectedly. Given that almost all of the gains have been in price rather than income (dividends, interest, etc.), the vulnerability is exacerbated. The unstable structure of the financial system — high leverage, shadow banks, illiquidity, unresolved linkages, the rise in trend following investors — means that any problem may trigger a major adjustment.</p>\n<p>Investors’ options are limited. You could believe in the permanency of a “new normal.” Risky asset investments are then justified on the basis that authorities must ensure high- and rising asset prices, primarily as the alternative is too awful to contemplate. This assumes that policy options remain unconstrained indefinitely.</p>\n<p>Or investors can rely on momentum, essentially Keynes’ so-called beauty contest theory of investing, which anticipated today’s “meme stocks.” Successful investment requires investors to select the most popular faces among all judges, rather than those they may personally find the most attractive. The difficulty is knowing the judge’s mind and recognizing when to sell before the music stops.</p>\n<p>Third, investors can park their money in cash. This means accepting exceptionally low returns perhaps for a prolonged period and, worst of all, missing out on further gains.</p>\n<p>An alternative is to reposition defensively into assets or businesses with reliable income streams operating in essential industries or selling staples. These traditional “widows and orphans” investments are more difficult to find today. “Safe” government bonds now offer little income but high risk. Stock and property prices are highly correlated, reflecting investor behavior as well as the common reliance on leverage. More liquid and better-quality assets frequently come under selling pressure when leveraged investors need to raise cash. Today, just as a rising tide lifts all boats, a receding surge leaves everyone stranded.</p>\n<p>Fourth, investors can seek to benefit from higher inflation, switching to stocks that benefit from increasing prices. But the impact on equity prices will depend on whether it is profit inflation (that is, end-product prices rise) or cost inflation, including increases in wages. If it is the latter, then the squeeze on earnings may adversely affect equity valuations. Combined with higher rates, this may adversely affect stocks. Another alternative is inflation-linked securities, such as Treasury inflation-protected securities (TIPS) &nbsp;TIP,+0.52%&nbsp;or commodities.&nbsp;</p>\n<p>Fifth, investors could go “off-piste,” believing that existing policies are unsustainable and the economic system is irredeemable broken. This favors crypto-currencies, precious metals or collectibles — non-traditional assets whose supply is naturally constrained. The ability of the state to confiscate, tax and regulate, as well as reliance on courts to enforce rights, complicates this quest for freedom.</p>\n<p>The ultra-rich and some high-net worth individuals have gone off-grid already by moving into private markets. Concerned about manipulated and gamified markets, they focus now on non-listed real businesses and assets as well as private debt, sacrificing liquidity and transparency for better economics, privacy and control. Unfortunately, these options are limited for ordinary individuals — a different form of inequality.</p>\n<p>Investors therefore face Hobson’s illusory choice, where only one thing is actually offered. They can lose by betting against price rises or that prices keep rising.&nbsp;</p>\n<p>Policymakers, meanwhile, continue to compound decades of mistakes. They must now keep increasing debt and maintaining low rates in order to keep asset prices high. Government deficits are essential to maintaining economic activity. Kicking the can down the road is the only way to ensure that the day of reckoning is deferred — NIMTO (not in my term of office). This forces investors to go out further on the risk curve to generate returns.&nbsp;</p>\n<p>Perhaps investors nowadays should stick to comedian Will Rogers’s famous investment advice: “Don’t gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.”</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Stock investors now have come to a cliff in the road — and options are limited </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpinion: Stock investors now have come to a cliff in the road — and options are limited \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 20:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/stock-investors-now-have-come-to-a-cliff-in-the-road-and-options-are-limited-11623375733?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fundamental things haven’t applied to the U.S. market but that seems about to change.\n\nThe coronavirus pandemic has been excellent for investors, but most now realize that the stock market’s ...</p>\n\n<a href=\"https://www.marketwatch.com/story/stock-investors-now-have-come-to-a-cliff-in-the-road-and-options-are-limited-11623375733?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/stock-investors-now-have-come-to-a-cliff-in-the-road-and-options-are-limited-11623375733?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198311684","content_text":"Fundamental things haven’t applied to the U.S. market but that seems about to change.\n\nThe coronavirus pandemic has been excellent for investors, but most now realize that the stock market’s extraordinary performance is not based on fundamentals, which ceased to matter some time ago.\nCentral banks have been driving asset prices with massive liquidity infusions and zero interest rates. Consumption and corporate earnings are underpinned by large government transfer payments, fiscal stimulus and industry support.\nWill it last? The consensus is that most assets are overpriced. Prices ultimately are the present value of future cash flows. Authorities have manipulated the discount rate but altering underlying long-term cash flows, which are driven by the real economy, is more difficult. Low volatility, engineered by central banks, also encourages exuberant prices. At some stage, profligate government deficits may be reigned by either winding back spending or increasing taxes. These policies may also drive inflation, requiring tighter monetary policy and higher rates. \nCurrently high stock prices expose investors to the risk of a sudden correction, when the game of musical chairs stops unexpectedly. Given that almost all of the gains have been in price rather than income (dividends, interest, etc.), the vulnerability is exacerbated. The unstable structure of the financial system — high leverage, shadow banks, illiquidity, unresolved linkages, the rise in trend following investors — means that any problem may trigger a major adjustment.\nInvestors’ options are limited. You could believe in the permanency of a “new normal.” Risky asset investments are then justified on the basis that authorities must ensure high- and rising asset prices, primarily as the alternative is too awful to contemplate. This assumes that policy options remain unconstrained indefinitely.\nOr investors can rely on momentum, essentially Keynes’ so-called beauty contest theory of investing, which anticipated today’s “meme stocks.” Successful investment requires investors to select the most popular faces among all judges, rather than those they may personally find the most attractive. The difficulty is knowing the judge’s mind and recognizing when to sell before the music stops.\nThird, investors can park their money in cash. This means accepting exceptionally low returns perhaps for a prolonged period and, worst of all, missing out on further gains.\nAn alternative is to reposition defensively into assets or businesses with reliable income streams operating in essential industries or selling staples. These traditional “widows and orphans” investments are more difficult to find today. “Safe” government bonds now offer little income but high risk. Stock and property prices are highly correlated, reflecting investor behavior as well as the common reliance on leverage. More liquid and better-quality assets frequently come under selling pressure when leveraged investors need to raise cash. Today, just as a rising tide lifts all boats, a receding surge leaves everyone stranded.\nFourth, investors can seek to benefit from higher inflation, switching to stocks that benefit from increasing prices. But the impact on equity prices will depend on whether it is profit inflation (that is, end-product prices rise) or cost inflation, including increases in wages. If it is the latter, then the squeeze on earnings may adversely affect equity valuations. Combined with higher rates, this may adversely affect stocks. Another alternative is inflation-linked securities, such as Treasury inflation-protected securities (TIPS)  TIP,+0.52% or commodities. \nFifth, investors could go “off-piste,” believing that existing policies are unsustainable and the economic system is irredeemable broken. This favors crypto-currencies, precious metals or collectibles — non-traditional assets whose supply is naturally constrained. The ability of the state to confiscate, tax and regulate, as well as reliance on courts to enforce rights, complicates this quest for freedom.\nThe ultra-rich and some high-net worth individuals have gone off-grid already by moving into private markets. Concerned about manipulated and gamified markets, they focus now on non-listed real businesses and assets as well as private debt, sacrificing liquidity and transparency for better economics, privacy and control. Unfortunately, these options are limited for ordinary individuals — a different form of inequality.\nInvestors therefore face Hobson’s illusory choice, where only one thing is actually offered. They can lose by betting against price rises or that prices keep rising. \nPolicymakers, meanwhile, continue to compound decades of mistakes. They must now keep increasing debt and maintaining low rates in order to keep asset prices high. Government deficits are essential to maintaining economic activity. Kicking the can down the road is the only way to ensure that the day of reckoning is deferred — NIMTO (not in my term of office). This forces investors to go out further on the risk curve to generate returns. \nPerhaps investors nowadays should stick to comedian Will Rogers’s famous investment advice: “Don’t gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":19,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3578969648963961","authorId":"3578969648963961","name":"Boo2bear","avatar":"https://static.tigerbbs.com/209ae746c8124fe2d5f79aee784d2fcc","crmLevel":4,"crmLevelSwitch":0},"content":"FA only one part. Price tells the truth. Follow price.","text":"FA only one part. Price tells the truth. Follow price.","html":"FA only one part. Price tells the truth. Follow price."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111424986,"gmtCreate":1622694231245,"gmtModify":1704189094583,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"the&nbsp;temptation is strong. like and comment if you agree!","listText":"the&nbsp;temptation is strong. like and comment if you agree!","text":"the temptation is strong. like and comment if you agree!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/111424986","repostId":"1115876867","repostType":4,"repost":{"id":"1115876867","pubTimestamp":1622678071,"share":"https://www.laohu8.com/m/news/1115876867?lang=&edition=full","pubTime":"2021-06-03 07:54","market":"us","language":"en","title":"Shares of retail favorite AMC nearly double, company woos investors with free popcorn","url":"https://stock-news.laohu8.com/highlight/detail?id=1115876867","media":"Reuters","summary":"Shares of retail investor favorite AMC Entertainment Holdings Inc(AMC.N)nearly doubled in price on W","content":"<p>Shares of retail investor favorite <a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a> Holdings Inc(AMC.N)nearly doubled in price on Wednesday, extending a breathtaking rally and reinvigorating the meme stock phenomenon that has captivated investors.</p><p>The theater chain operator's shares closed up 95.2% at $62.55, a fresh record. At the close, AMC's market value stood at $28.17 billion, more than ViacomCBS(VIAC.O)and <a href=\"https://laohu8.com/S/K\">Kellogg</a>(K.N), as well as fellow meme-stock <a href=\"https://laohu8.com/S/GME\">GameStop</a>(GME.N).</p><p>In an apparent nod to the retail investors that have hyped the stock in forums such as Reddit’s popular WallStreetBets, AMC CEO Adam Aron on Wednesday announced an initiative that offered even the smallest shareholder a free large popcorn if they signed up to a regular newsletter.</p><p>Among other so-called meme stocks - companies popular with a new generation of social media centric traders on WallStreetBets and other online forums - security software provider <a href=\"https://laohu8.com/S/BBRY\">BlackBerry</a> and headphone maker <a href=\"https://laohu8.com/S/KOSS\">Koss</a> Corp(KOSS.O)rose 31.1% and 68.6%, respectively.</p><p>The massive rise in AMC's shares, which are up about 2,850% from just over $2 at the end of last year, is beginning to resemble the wild ride in shares of <a href=\"https://laohu8.com/S/GME\">GameStop</a> earlier this year.</p><p>\"It's meme stock 2.0.,” said Steve Sosnick, Chief Strategist at <a href=\"https://laohu8.com/S/IBKR\">Interactive Brokers</a>.</p><p>GameStop shares rose more than 1,600% in January, buoyed in part by bearish investors unwinding their bets against the heavily shorted stock in the face of a massive buying surge.</p><p>'GAMMA SQUEEZE'</p><p>Some of the upward price move in AMC is likely being driven by market makers buying up stock to hedge their exposure from selling options, an event known as a “gamma squeeze,” analysts said.</p><p>\"People have learnt what tactics work under these insane circumstances. They are using a very similar play-book,\" Sosnick said.</p><p>Call options that would pay off if the shares topped $73 by Friday were the most heavily trade AMC options on Wednesday, with about 233,000 contracts changing hands.</p><p>With shares approaching that level, market makers who sold these and other similarly bullish contracts were left with no choice but to buy up AMC stock to hedge their own risk, thereby exacerbating the rise in the share price, analysts said.</p><p>\"Market makers are just chasing the stock,\" said Matt Amberson, principal at options analytics firm ORATS.</p><p>Wednesday’s near doubling of the stock price will likely test investors that have shorted AMC. Bearish investors were down $5.2 billion for the year and lost nearly $2.8 billion on Wednesday alone, data from S3 showed.</p><p>\"If you began your short at under $10 and you were sure the stock was overvalued at $10 it makes more sense that it’s over valued at $30 or $70,” said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners. However, \"at a certain point your losses outweigh your thesis.\"</p><p>The surge in AMC shares comes a day after hedge fund Mudrick Capital Management LP sold a $230 million stake in the company for a profit shortly after acquiring it, saying the stock was overvalued, according to a source.</p><p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> appeared unfazed by the sale, which some analysts characterized as an attempt to cash in on the retail-driven surge in its stock.</p><p>\"There's a retail fanaticism with this stock right now,\" said MKM Partners analyst Eric Handler, who has a sell rating and a $1 price target on AMC stock. \"There's such a disconnect between what the stock's doing and what the fundamentals look like.\"</p><p>On <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> and WallStreetBets, some users exhorted <a href=\"https://laohu8.com/S/AONE\">one</a> another to hold on to their shares of AMC while others cheered on the rally.</p><p>\"$amc let’s go again to $100 and beyond,\" wrote <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> user @Rodolf30592158.</p><p>AMC was the most heavily traded name in options on Wednesday, with 4.6 million contracts traded. About $39 billion worth of AMC shares was traded on Wednesday, by far the most of any stock on Wall Street, per Refinitiv data.</p><p>The company has been among the biggest gainers from a deluge of interest in so-called meme stocks.</p><p>\"The (retail trading) party could go on as long as investors could continue co-acting,\" said Ipek Ozkardeskaya, senior analyst at Swissquote. \"The problem is, the higher the price goes, the higher is the temptation to take profit and walk away.\"</p><p></p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shares of retail favorite AMC nearly double, company woos investors with free popcorn</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShares of retail favorite AMC nearly double, company woos investors with free popcorn\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-03 07:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/business/amc-shares-set-record-open-meme-stocks-surge-2021-06-02/><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of retail investor favorite AMC Entertainment Holdings Inc(AMC.N)nearly doubled in price on Wednesday, extending a breathtaking rally and reinvigorating the meme stock phenomenon that has ...</p>\n\n<a href=\"https://www.reuters.com/business/amc-shares-set-record-open-meme-stocks-surge-2021-06-02/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.reuters.com/business/amc-shares-set-record-open-meme-stocks-surge-2021-06-02/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115876867","content_text":"Shares of retail investor favorite AMC Entertainment Holdings Inc(AMC.N)nearly doubled in price on Wednesday, extending a breathtaking rally and reinvigorating the meme stock phenomenon that has captivated investors.The theater chain operator's shares closed up 95.2% at $62.55, a fresh record. At the close, AMC's market value stood at $28.17 billion, more than ViacomCBS(VIAC.O)and Kellogg(K.N), as well as fellow meme-stock GameStop(GME.N).In an apparent nod to the retail investors that have hyped the stock in forums such as Reddit’s popular WallStreetBets, AMC CEO Adam Aron on Wednesday announced an initiative that offered even the smallest shareholder a free large popcorn if they signed up to a regular newsletter.Among other so-called meme stocks - companies popular with a new generation of social media centric traders on WallStreetBets and other online forums - security software provider BlackBerry and headphone maker Koss Corp(KOSS.O)rose 31.1% and 68.6%, respectively.The massive rise in AMC's shares, which are up about 2,850% from just over $2 at the end of last year, is beginning to resemble the wild ride in shares of GameStop earlier this year.\"It's meme stock 2.0.,” said Steve Sosnick, Chief Strategist at Interactive Brokers.GameStop shares rose more than 1,600% in January, buoyed in part by bearish investors unwinding their bets against the heavily shorted stock in the face of a massive buying surge.'GAMMA SQUEEZE'Some of the upward price move in AMC is likely being driven by market makers buying up stock to hedge their exposure from selling options, an event known as a “gamma squeeze,” analysts said.\"People have learnt what tactics work under these insane circumstances. They are using a very similar play-book,\" Sosnick said.Call options that would pay off if the shares topped $73 by Friday were the most heavily trade AMC options on Wednesday, with about 233,000 contracts changing hands.With shares approaching that level, market makers who sold these and other similarly bullish contracts were left with no choice but to buy up AMC stock to hedge their own risk, thereby exacerbating the rise in the share price, analysts said.\"Market makers are just chasing the stock,\" said Matt Amberson, principal at options analytics firm ORATS.Wednesday’s near doubling of the stock price will likely test investors that have shorted AMC. Bearish investors were down $5.2 billion for the year and lost nearly $2.8 billion on Wednesday alone, data from S3 showed.\"If you began your short at under $10 and you were sure the stock was overvalued at $10 it makes more sense that it’s over valued at $30 or $70,” said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners. However, \"at a certain point your losses outweigh your thesis.\"The surge in AMC shares comes a day after hedge fund Mudrick Capital Management LP sold a $230 million stake in the company for a profit shortly after acquiring it, saying the stock was overvalued, according to a source.Investors appeared unfazed by the sale, which some analysts characterized as an attempt to cash in on the retail-driven surge in its stock.\"There's a retail fanaticism with this stock right now,\" said MKM Partners analyst Eric Handler, who has a sell rating and a $1 price target on AMC stock. \"There's such a disconnect between what the stock's doing and what the fundamentals look like.\"On Twitter and WallStreetBets, some users exhorted one another to hold on to their shares of AMC while others cheered on the rally.\"$amc let’s go again to $100 and beyond,\" wrote Twitter user @Rodolf30592158.AMC was the most heavily traded name in options on Wednesday, with 4.6 million contracts traded. About $39 billion worth of AMC shares was traded on Wednesday, by far the most of any stock on Wall Street, per Refinitiv data.The company has been among the biggest gainers from a deluge of interest in so-called meme stocks.\"The (retail trading) party could go on as long as investors could continue co-acting,\" said Ipek Ozkardeskaya, senior analyst at Swissquote. \"The problem is, the higher the price goes, the higher is the temptation to take profit and walk away.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3579150819625638","authorId":"3579150819625638","name":"gorgonzola","avatar":"https://static.tigerbbs.com/1c98c4db336df9bf3de0d2833d8ff0cf","crmLevel":2,"crmLevelSwitch":0},"content":"yup. pse reply!","text":"yup. pse reply!","html":"yup. pse reply!"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9094544039,"gmtCreate":1645194853862,"gmtModify":1676534007737,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$</a>!!","listText":"<a href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$</a>!!","text":"$Sea Ltd(SE)$!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094544039","repostId":"2212626136","repostType":4,"repost":{"id":"2212626136","pubTimestamp":1645198200,"share":"https://www.laohu8.com/m/news/2212626136?lang=&edition=full","pubTime":"2022-02-18 23:30","market":"us","language":"en","title":"3 Unstoppable Stocks to Buy at Unbelievable Bargains","url":"https://stock-news.laohu8.com/highlight/detail?id=2212626136","media":"Motley Fool","summary":"These stocks have tremendous growth prospects that make their current valuations look really attractive.","content":"<html><head></head><body><p>Many growth stocks have tanked. That&#39;s bad news for short-term traders who bought the stocks hoping to make a quick profit. However, it could be great news for long-term investors.</p><p>Note my use of the word &#34;could.&#34; Not every former high-flying stock is a smart pick even at a lower price tag. Several of them are, though. Here are three unstoppable stocks to buy right now at unbelievable bargains.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3c3b71a652677a66fe10fb151d7fc950\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"/><span>Image source: Getty Images.</span></p><h2>1. Teladoc Health</h2><p><b>Teladoc Health</b> (NYSE:TDOC) has lost three-fourths of its market cap over the past 12 months. Sure, the stock got ahead of itself after a pandemic-related surge in 2020. However, Teladoc&#39;s growth prospects make it worth a lot more than its current market cap of under $12 billion, in my view.</p><p>Some might question whether or not Teladoc can win in a post-pandemic world. I think the answer is a resounding yes. Virtual care is both cost-effective for payers and convenient for patients. That&#39;s a compelling value proposition.</p><p>Teladoc also holds multiple competitive advantages over rivals. It offers the broadest array of services in the industry, notably including a chronic disease management platform. The company ranks No. 1 in customer satisfaction. And Teladoc boasts the biggest client base by far, including more than half of the Fortune 500.</p><p>The company could nearly double its covered lives simply by gaining new members within existing clients. It could grow even more by increasing multi-product penetration within current customers. Adding new clients -- which Teladoc continues to do at a robust rate -- is the cherry on top.</p><p>Teladoc estimates its total addressable market stands at $268 billion in the U.S. alone. To put that into context, Wall Street expects the company to generate around $2.6 billion in revenue this year. Unstoppable stock at an unbelievable price? Yep.</p><h2>2. <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</h2><p><b>PayPal Holdings</b> (NASDAQ:PYPL) shares have fallen more than 60% below their 52-week high. While much of that decline came in the second half of last year, the fintech stock also plunged earlier this month after providing disappointing guidance for 2022.</p><p>It&#39;s important to delve into the details behind the stock&#39;s drop. In particular, PayPal&#39;s lower-than-expected customer account growth for this year isn&#39;t a sign of impending doom. Instead, the company is shifting to a model of growing revenue per user rather than emphasizing expanding the total customer base. That&#39;s a move that investors should applaud because it will drive higher profitability.</p><p>PayPal&#39;s long-term prospects remain exceptionally strong. Its growth drivers include increased e-commerce penetration, buy now, pay later programs, in-store QR code payments, and the Venmo digital wallet. There&#39;s arguably no company in as strong of a position to benefit from the shift to digital payments as PayPal.</p><p>Is the stock really an unbelievable bargain, though? Probably not if you only look at current valuation metrics. However, when you compare PayPal&#39;s market cap of $131 billion against the $110 <i>trillion</i> market opportunity, it&#39;s a different story altogether.</p><h2>3. Sea Limited</h2><p>Like PayPal, <b>Sea Limited</b> (NYSE:SE) has seen its stock price sink more than 60% from peak levels. Nearly all of this decline has come over the past three months.</p><p>Concerns about rising interest rates have hurt many growth stocks, including Sea. But the company also faces a more immediate worry: India is reportedly banning Sea&#39;s top-selling <i>Free Fire</i> mobile game. Although Sea currently generates less than 3% of its gaming revenue in India, the country is potentially a big growth market for the company.</p><p>However, Sea has plenty of other avenues for growth -- both from a geographic and product standpoint. The company continues to enjoy strong momentum in Southeast Asia and Latin America. Its e-commerce and digital payments units are also key growth drivers in addition to its gaming business.</p><p>As was the case with PayPal, Sea Limited might not seem to be cheap based on commonly used valuation metrics. However, the company is a contender in three fast-growing markets (gaming, e-commerce, and digital payments). Sea&#39;s opportunity makes its current market cap of $80 billion look quite attractive.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Unstoppable Stocks to Buy at Unbelievable Bargains</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Unstoppable Stocks to Buy at Unbelievable Bargains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-18 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/02/18/3-unstoppable-stocks-to-buy-at-unbelievable-bargai/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Many growth stocks have tanked. That's bad news for short-term traders who bought the stocks hoping to make a quick profit. However, it could be great news for long-term investors.Note my use of the ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/02/18/3-unstoppable-stocks-to-buy-at-unbelievable-bargai/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal","BK4534":"瑞士信贷持仓","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4524":"宅经济概念","BK4167":"医疗保健技术","BK4535":"淡马锡持仓","BK4527":"明星科技股","SE":"Sea Ltd","BK4526":"热门中概股","BK4503":"景林资产持仓","BK4551":"寇图资本持仓","BK4505":"高瓴资本持仓","BK4085":"互动家庭娱乐","BK4504":"桥水持仓","BK4548":"巴美列捷福持仓","TDOC":"Teladoc Health Inc.","BGNE":"百济神州","BK4106":"数据处理与外包服务","BK4554":"元宇宙及AR概念","BK4567":"ESG概念"},"source_url":"https://www.fool.com/investing/2022/02/18/3-unstoppable-stocks-to-buy-at-unbelievable-bargai/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2212626136","content_text":"Many growth stocks have tanked. That's bad news for short-term traders who bought the stocks hoping to make a quick profit. However, it could be great news for long-term investors.Note my use of the word \"could.\" Not every former high-flying stock is a smart pick even at a lower price tag. Several of them are, though. Here are three unstoppable stocks to buy right now at unbelievable bargains.Image source: Getty Images.1. Teladoc HealthTeladoc Health (NYSE:TDOC) has lost three-fourths of its market cap over the past 12 months. Sure, the stock got ahead of itself after a pandemic-related surge in 2020. However, Teladoc's growth prospects make it worth a lot more than its current market cap of under $12 billion, in my view.Some might question whether or not Teladoc can win in a post-pandemic world. I think the answer is a resounding yes. Virtual care is both cost-effective for payers and convenient for patients. That's a compelling value proposition.Teladoc also holds multiple competitive advantages over rivals. It offers the broadest array of services in the industry, notably including a chronic disease management platform. The company ranks No. 1 in customer satisfaction. And Teladoc boasts the biggest client base by far, including more than half of the Fortune 500.The company could nearly double its covered lives simply by gaining new members within existing clients. It could grow even more by increasing multi-product penetration within current customers. Adding new clients -- which Teladoc continues to do at a robust rate -- is the cherry on top.Teladoc estimates its total addressable market stands at $268 billion in the U.S. alone. To put that into context, Wall Street expects the company to generate around $2.6 billion in revenue this year. Unstoppable stock at an unbelievable price? Yep.2. PayPal HoldingsPayPal Holdings (NASDAQ:PYPL) shares have fallen more than 60% below their 52-week high. While much of that decline came in the second half of last year, the fintech stock also plunged earlier this month after providing disappointing guidance for 2022.It's important to delve into the details behind the stock's drop. In particular, PayPal's lower-than-expected customer account growth for this year isn't a sign of impending doom. Instead, the company is shifting to a model of growing revenue per user rather than emphasizing expanding the total customer base. That's a move that investors should applaud because it will drive higher profitability.PayPal's long-term prospects remain exceptionally strong. Its growth drivers include increased e-commerce penetration, buy now, pay later programs, in-store QR code payments, and the Venmo digital wallet. There's arguably no company in as strong of a position to benefit from the shift to digital payments as PayPal.Is the stock really an unbelievable bargain, though? Probably not if you only look at current valuation metrics. However, when you compare PayPal's market cap of $131 billion against the $110 trillion market opportunity, it's a different story altogether.3. Sea LimitedLike PayPal, Sea Limited (NYSE:SE) has seen its stock price sink more than 60% from peak levels. Nearly all of this decline has come over the past three months.Concerns about rising interest rates have hurt many growth stocks, including Sea. But the company also faces a more immediate worry: India is reportedly banning Sea's top-selling Free Fire mobile game. Although Sea currently generates less than 3% of its gaming revenue in India, the country is potentially a big growth market for the company.However, Sea has plenty of other avenues for growth -- both from a geographic and product standpoint. The company continues to enjoy strong momentum in Southeast Asia and Latin America. Its e-commerce and digital payments units are also key growth drivers in addition to its gaming business.As was the case with PayPal, Sea Limited might not seem to be cheap based on commonly used valuation metrics. However, the company is a contender in three fast-growing markets (gaming, e-commerce, and digital payments). Sea's opportunity makes its current market cap of $80 billion look quite attractive.","news_type":1},"isVote":1,"tweetType":1,"viewCount":391,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806749325,"gmtCreate":1627696324867,"gmtModify":1703494814004,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and comment for good luck! ?","listText":"give a like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/806749325","repostId":"2155915751","repostType":4,"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116076997,"gmtCreate":1622767953519,"gmtModify":1704190735919,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and comment for good luck! ?","listText":"give a like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/116076997","repostId":"1103224269","repostType":4,"repost":{"id":"1103224269","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622763006,"share":"https://www.laohu8.com/m/news/1103224269?lang=&edition=full","pubTime":"2021-06-04 07:30","market":"us","language":"en","title":"CrowdStrike stock rises as earnings, outlook top Street view","url":"https://stock-news.laohu8.com/highlight/detail?id=1103224269","media":"Tiger Newspress","summary":"CrowdStrike Holdings Inc. shares rose in the extended session Thursday after the cybersecurity compa","content":"<p>CrowdStrike Holdings Inc. shares rose in the extended session Thursday after the cybersecurity company’s quarterly results and outlook topped Wall Street estimates.</p><p>CrowdStrike&nbsp;CRWD,shares gained 3% after hours, following a 2.1% decline in the regular session to close at $216.<img src=\"https://static.tigerbbs.com/a24dbc8384041f548a22f9c5907a31ff\" tg-width=\"694\" tg-height=\"525\" referrerpolicy=\"no-referrer\">The company reported a fiscal first-quarter loss of $85 million, or 38 cents a share, compared with a loss of $19.2 million, or 9 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 10 cents a share, compared with 2 cents a share in the year-ago period.<img src=\"https://static.tigerbbs.com/845d35a2438402e22e7764efbb217450\" tg-width=\"831\" tg-height=\"623\" referrerpolicy=\"no-referrer\"></p><p>Revenue rose to $302.8 million from $178.1 million in the year-ago quarter.</p><p>Analysts surveyed by FactSet had forecast CrowdStrike to report earnings of 5 cents a share on revenue of $291.5 million, based on the company’s outlook of 5 cents to 6 cents a share on revenue of $287.8 million to $292.1 million.</p><p>“We believe the robust demand environment driven by secular trends, such as digital and security transformation, cloud adoption and a heightened threat environment, provides a runway for long-term sustainable growth,” said George Kurtz, CrowdStrike co-founder and chief executive, in a statement.</p><p>Annual recurring revenue, a software-as-a-service metric that shows how much revenue the company can expect based on subscriptions, increased 74% to $1.19 billion for the quarter, while the Street expected $1.12 billion.</p><p>CrowdStrike expects adjusted fiscal second-quarter earnings of 7 cents to 9 cents a share on revenue of $318.3 million to $324.4 million, while analysts forecast earnings of 6 cents a share on revenue of $310.6 million, according to FactSet.</p><p>As of Thursday’s close, the stock is up 120% over the past 12 months, compared with a 34% rise by the S&amp;P 500 index&nbsp;SPX,-0.36%,&nbsp;a 41% gain for the tech-heavy Nasdaq Composite Index&nbsp;COMP,-1.03%,&nbsp;and a 29% gain by the ETFMG Prime Cyber Security ETF&nbsp;HACK,-1.10%.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CrowdStrike stock rises as earnings, outlook top Street view</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrowdStrike stock rises as earnings, outlook top Street view\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-04 07:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>CrowdStrike Holdings Inc. shares rose in the extended session Thursday after the cybersecurity company’s quarterly results and outlook topped Wall Street estimates.</p><p>CrowdStrike&nbsp;CRWD,shares gained 3% after hours, following a 2.1% decline in the regular session to close at $216.<img src=\"https://static.tigerbbs.com/a24dbc8384041f548a22f9c5907a31ff\" tg-width=\"694\" tg-height=\"525\" referrerpolicy=\"no-referrer\">The company reported a fiscal first-quarter loss of $85 million, or 38 cents a share, compared with a loss of $19.2 million, or 9 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 10 cents a share, compared with 2 cents a share in the year-ago period.<img src=\"https://static.tigerbbs.com/845d35a2438402e22e7764efbb217450\" tg-width=\"831\" tg-height=\"623\" referrerpolicy=\"no-referrer\"></p><p>Revenue rose to $302.8 million from $178.1 million in the year-ago quarter.</p><p>Analysts surveyed by FactSet had forecast CrowdStrike to report earnings of 5 cents a share on revenue of $291.5 million, based on the company’s outlook of 5 cents to 6 cents a share on revenue of $287.8 million to $292.1 million.</p><p>“We believe the robust demand environment driven by secular trends, such as digital and security transformation, cloud adoption and a heightened threat environment, provides a runway for long-term sustainable growth,” said George Kurtz, CrowdStrike co-founder and chief executive, in a statement.</p><p>Annual recurring revenue, a software-as-a-service metric that shows how much revenue the company can expect based on subscriptions, increased 74% to $1.19 billion for the quarter, while the Street expected $1.12 billion.</p><p>CrowdStrike expects adjusted fiscal second-quarter earnings of 7 cents to 9 cents a share on revenue of $318.3 million to $324.4 million, while analysts forecast earnings of 6 cents a share on revenue of $310.6 million, according to FactSet.</p><p>As of Thursday’s close, the stock is up 120% over the past 12 months, compared with a 34% rise by the S&amp;P 500 index&nbsp;SPX,-0.36%,&nbsp;a 41% gain for the tech-heavy Nasdaq Composite Index&nbsp;COMP,-1.03%,&nbsp;and a 29% gain by the ETFMG Prime Cyber Security ETF&nbsp;HACK,-1.10%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRWD":"CrowdStrike Holdings, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103224269","content_text":"CrowdStrike Holdings Inc. shares rose in the extended session Thursday after the cybersecurity company’s quarterly results and outlook topped Wall Street estimates.CrowdStrike CRWD,shares gained 3% after hours, following a 2.1% decline in the regular session to close at $216.The company reported a fiscal first-quarter loss of $85 million, or 38 cents a share, compared with a loss of $19.2 million, or 9 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 10 cents a share, compared with 2 cents a share in the year-ago period.Revenue rose to $302.8 million from $178.1 million in the year-ago quarter.Analysts surveyed by FactSet had forecast CrowdStrike to report earnings of 5 cents a share on revenue of $291.5 million, based on the company’s outlook of 5 cents to 6 cents a share on revenue of $287.8 million to $292.1 million.“We believe the robust demand environment driven by secular trends, such as digital and security transformation, cloud adoption and a heightened threat environment, provides a runway for long-term sustainable growth,” said George Kurtz, CrowdStrike co-founder and chief executive, in a statement.Annual recurring revenue, a software-as-a-service metric that shows how much revenue the company can expect based on subscriptions, increased 74% to $1.19 billion for the quarter, while the Street expected $1.12 billion.CrowdStrike expects adjusted fiscal second-quarter earnings of 7 cents to 9 cents a share on revenue of $318.3 million to $324.4 million, while analysts forecast earnings of 6 cents a share on revenue of $310.6 million, according to FactSet.As of Thursday’s close, the stock is up 120% over the past 12 months, compared with a 34% rise by the S&P 500 index SPX,-0.36%, a 41% gain for the tech-heavy Nasdaq Composite Index COMP,-1.03%, and a 29% gain by the ETFMG Prime Cyber Security ETF HACK,-1.10%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113129343,"gmtCreate":1622598757282,"gmtModify":1704187056976,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and comment for good luck! ?","listText":"give a like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/113129343","repostId":"1106176005","repostType":4,"repost":{"id":"1106176005","pubTimestamp":1622588821,"share":"https://www.laohu8.com/m/news/1106176005?lang=&edition=full","pubTime":"2021-06-02 07:07","market":"us","language":"en","title":"S&P 500 dips, as healthcare weighs; Dow ends higher","url":"https://stock-news.laohu8.com/highlight/detail?id=1106176005","media":"Reuters","summary":"The S&P 500dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.The S&P 500 financial sectorhit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector3.9%, its biggest $one$-day gain in nearly four months. The heavyweight tech sectorfell while the healthcare sectorwas dragged down by a weak profit forec","content":"<p>The S&amp;P 500(.SPX)dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.</p><p>The S&amp;P 500 financial sector(.SPSY)hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector(.SPNY)3.9%, its biggest <a href=\"https://laohu8.com/S/AONE\">one</a>-day gain in nearly four months. The heavyweight tech sector(.SPLRCT)fell while the healthcare sector(.SPXHC)was dragged down by a weak profit forecast from <a href=\"https://laohu8.com/S/ABT\">Abbott Laboratories</a>(ABT.N).</p><p>Data showed U.S.manufacturing activity pickedup in May as pent-up demand in a reopening economy boosted orders. But unfinished work piled up because of shortages of raw materials and labor.</p><p>\"People came back from a holiday weekend convinced that the economy is recovering nicely and that any inflation that we might be seeing in labor and other costs is temporary,\" Peter Tuz, president of <a href=\"https://laohu8.com/S/CCF\">Chase</a> Investment Counsel in Charlottesville, Virginia.</p><p>The Dow Jones Industrial Average(.DJI)rose 45.86 points, or 0.13%, to 34,575.31; the S&amp;P 500(.SPX)lost 2.07 points, or 0.05%, at 4,202.04; and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite(.IXIC)dropped 12.26 points, or 0.09%, to 13,736.48.</p><p>Along with sharp gains for financials and energy, the small-cap Russell 2000(.RUT)rose 1.1% on Tuesday, underscoring strength for segments of the stock market expected to do particularly well in an expanding economy.</p><p>While the S&amp;P 500 remains less than 1% of its record high after four straight months of gains, investors are worried about whether rising inflation could hit equity prices.</p><p>\"We have supply chain issues, delays, price increases, pricing pressures in general, we have got employers saying they have got difficulty sourcing labor,\" said Kristina Hooper, chief global market strategist at <a href=\"https://laohu8.com/S/IVZ\">Invesco</a> in <a href=\"https://laohu8.com/S/NWY\">New York</a>.</p><p>\"So this is a microcosm of what we are already hearing about and seeing in the overall economy and it's just a reminder that inflation remains a concern.\"</p><p>A Wall St. sign is seen near the <a href=\"https://laohu8.com/S/NYRT\">New York</a> Stock Exchange (NYSE) in <a href=\"https://laohu8.com/S/NGD\">New</a> York <a href=\"https://laohu8.com/S/CHCO\">City</a>, U.S., May 4, 2021. REUTERS/Brendan McDermid/File Photo</p><p>Stock markets on Friday brushed off a surge inkey inflation readingsfor April following reassurances from Federal Reserve officials that the central bank’s ultra-loose monetary policy would remain in place.</p><p>Minneapolis Federal Reserve Bank President Neel Kashkari and Fed Vice Chair for supervision Randal Quarles on Tuesday reiterated the view that higher prices would be transitory.</p><p>This week's focus will be on a raft of economic data, culminating with U.S. payrolls due on Friday.</p><p>Abbott Labs shares fell 9.3% after the company cut itsfull-year 2021 profit forecast, citing expectations for a sharp decline in revenue from its COVID-19 tests as more Americans get vaccinated. Shares of other test makers also fell.</p><p>Cloudera Inc(CLDR.N)shares jumped 23.9% after private equity firms KKR &amp; Co(KKR.N)and Clayton Dubilier &amp; Rice LLCagreed to take the data analytics firm private.</p><p>A group of“meme stocks” extended gainsfrom the previous week, with shares of <a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a> Holdings Inc(AMC.N)up 22.7% after the movie theater chain said it sold $230 million of its stock.</p><p>Advancing issues outnumbered decliners on the NYSE by a 2.54-to-1 ratio; on <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>, a 1.79-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 73 new 52-week highs and no new lows; the Nasdaq Composite recorded 168 new highs and 25 new lows.</p><p>About 10.7 billion shares changed hands in U.S. exchanges, compared with the 10.5 billion daily average over the last 20 sessions.</p><p><b>Here are company's financial statements：</b></p><p><a href=\"https://laohu8.com/NW/1184181912\" target=\"_blank\"><b>Zoom reports blowout earnings but warns of a coming slowdown</b></a></p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 dips, as healthcare weighs; Dow ends higher</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 dips, as healthcare weighs; Dow ends higher\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 07:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/business/sp-500-dips-healthcare-weighs-dow-ends-higher-2021-06-01/><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500(.SPX)dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and ...</p>\n\n<a href=\"https://www.reuters.com/business/sp-500-dips-healthcare-weighs-dow-ends-higher-2021-06-01/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SSO":"两倍做多标普500ETF","SPXU":"三倍做空标普500ETF","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","SDS":"两倍做空标普500ETF","SH":"标普500反向ETF","OEF":"标普100指数ETF-iShares",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF","OEX":"标普100"},"source_url":"https://www.reuters.com/business/sp-500-dips-healthcare-weighs-dow-ends-higher-2021-06-01/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106176005","content_text":"The S&P 500(.SPX)dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.The S&P 500 financial sector(.SPSY)hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector(.SPNY)3.9%, its biggest one-day gain in nearly four months. The heavyweight tech sector(.SPLRCT)fell while the healthcare sector(.SPXHC)was dragged down by a weak profit forecast from Abbott Laboratories(ABT.N).Data showed U.S.manufacturing activity pickedup in May as pent-up demand in a reopening economy boosted orders. But unfinished work piled up because of shortages of raw materials and labor.\"People came back from a holiday weekend convinced that the economy is recovering nicely and that any inflation that we might be seeing in labor and other costs is temporary,\" Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.The Dow Jones Industrial Average(.DJI)rose 45.86 points, or 0.13%, to 34,575.31; the S&P 500(.SPX)lost 2.07 points, or 0.05%, at 4,202.04; and the Nasdaq Composite(.IXIC)dropped 12.26 points, or 0.09%, to 13,736.48.Along with sharp gains for financials and energy, the small-cap Russell 2000(.RUT)rose 1.1% on Tuesday, underscoring strength for segments of the stock market expected to do particularly well in an expanding economy.While the S&P 500 remains less than 1% of its record high after four straight months of gains, investors are worried about whether rising inflation could hit equity prices.\"We have supply chain issues, delays, price increases, pricing pressures in general, we have got employers saying they have got difficulty sourcing labor,\" said Kristina Hooper, chief global market strategist at Invesco in New York.\"So this is a microcosm of what we are already hearing about and seeing in the overall economy and it's just a reminder that inflation remains a concern.\"A Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. REUTERS/Brendan McDermid/File PhotoStock markets on Friday brushed off a surge inkey inflation readingsfor April following reassurances from Federal Reserve officials that the central bank’s ultra-loose monetary policy would remain in place.Minneapolis Federal Reserve Bank President Neel Kashkari and Fed Vice Chair for supervision Randal Quarles on Tuesday reiterated the view that higher prices would be transitory.This week's focus will be on a raft of economic data, culminating with U.S. payrolls due on Friday.Abbott Labs shares fell 9.3% after the company cut itsfull-year 2021 profit forecast, citing expectations for a sharp decline in revenue from its COVID-19 tests as more Americans get vaccinated. Shares of other test makers also fell.Cloudera Inc(CLDR.N)shares jumped 23.9% after private equity firms KKR & Co(KKR.N)and Clayton Dubilier & Rice LLCagreed to take the data analytics firm private.A group of“meme stocks” extended gainsfrom the previous week, with shares of AMC Entertainment Holdings Inc(AMC.N)up 22.7% after the movie theater chain said it sold $230 million of its stock.Advancing issues outnumbered decliners on the NYSE by a 2.54-to-1 ratio; on Nasdaq, a 1.79-to-1 ratio favored advancers.The S&P 500 posted 73 new 52-week highs and no new lows; the Nasdaq Composite recorded 168 new highs and 25 new lows.About 10.7 billion shares changed hands in U.S. exchanges, compared with the 10.5 billion daily average over the last 20 sessions.Here are company's financial statements：Zoom reports blowout earnings but warns of a coming slowdown","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191692060,"gmtCreate":1620873275850,"gmtModify":1704349650605,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"be greedy when the market is fearful!","listText":"be greedy when the market is fearful!","text":"be greedy when the market is fearful!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/191692060","repostId":"2135584610","repostType":4,"repost":{"id":"2135584610","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1620850937,"share":"https://www.laohu8.com/m/news/2135584610?lang=&edition=full","pubTime":"2021-05-13 04:22","market":"us","language":"en","title":"Wall Street ends with broad sell-off on spiking inflation fears","url":"https://stock-news.laohu8.com/highlight/detail?id=2135584610","media":"Reuters","summary":"* Indexes down: Dow 1.99%, S&P 2.14%, Nasdaq 2.67%. NEW YORK, May 12  - Wall Street closed lower on Wednesday with the S&P suffering its biggest $one$-day percentage drop since February, as inflation data fueled concerns over whether interest rate hikes from the Fed could happen sooner than anticipated.All three major U.S. stock indexes ended the session deep in the red following the Labor Department's April consumer prices report, which showed the biggest rise in nearly 12 years.The report was ","content":"<p>* U.S. consumer prices jump most since June 2009</p><p>* Megacap growth stocks weigh heaviest</p><p>* Energy shares gain as crude climbs</p><p>* Indexes down: Dow 1.99%, S&amp;P 2.14%, Nasdaq 2.67%</p><p>NEW YORK, May 12 (Reuters) - Wall Street closed lower on Wednesday with the S&amp;P suffering its biggest <a href=\"https://laohu8.com/S/AONE\">one</a>-day percentage drop since February, as inflation data fueled concerns over whether interest rate hikes from the Fed could happen sooner than anticipated.</p><p>All three major U.S. stock indexes ended the session deep in the red following the Labor Department's April consumer prices report, which showed the biggest rise in nearly 12 years.</p><p>The report was hotly anticipated by market participants who have grown increasingly worried over whether current price jumps will defy the U.S. Federal Reserve's reassurances by morphing into long-term inflation.</p><p>But pent-up demand from consumers flush with stimulus and savings is colliding with a supply drought, sending commodity prices spiking, while a labor shortage drives wages higher.</p><p>\"The topic on everyone's mind is obviously inflation,\" said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. \"It's something the (Fed) has been looking for and they're finally getting their wish.\"</p><p>\"The question is how long will its fires run hot before starting to simmer?\"</p><p>That concern is shared by Stuart Cole, head macro economist at Equiti Capital in London.</p><p>\"Going forward, the big question is just how long can the Fed maintain its dovish stance in opposition to the markets,\" Cole said. \"Particularly if companies begin raising wages to encourage unemployed labor back into the workforce, in turn driving a large hole in the Fed’s transitory inflation argument.\"</p><p>Core consumer prices <a href=\"https://laohu8.com/S/CPI.UK\">$(CPI.UK)$</a>, which exclude volatile food and energy items, grew at 3% year-on-year, shooting above the central bank's average annual 2% inflation growth target.</p><p>The Dow Jones Industrial Averagefell 681.5 points, or 1.99%, to 33,587.66, the S&amp;P 500    lost 89.06 points, or 2.14%, to 4,063.04 and the Nasdaq Composite    dropped 357.75 points, or 2.67%, to 13,031.68.</p><p>Of the 11 major sectors in the S&amp;P 500, 10 closed in negative territory, with consumer discretionary    down most.</p><p>Energy&nbsp;was the sole gainer, advancing 0.1%, boosted by rising crude prices.</p><p>Market-leading mega-caps, including Amazon.com Inc, Apple Inc, Alphabet In, Microsoft Corp&nbsp;and Tesla Inc, fell between 2% and 3% as investors shied away from what many feel are stretched valuations.</p><p>\"The CPI number being stronger than expected has led to further weakness in tech stocks,\" said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. \"Tech investors are concerned that higher rates are going to lead to multiple compression and less attractive valuations for tech names in a higher rate environment.\"</p><p>The CBOE Volatility index   , a gauge of market anxiety, close at 27.64, its highest level since March 4.</p><p>Online dating platform Bumble Inc    gained in after-hours trading after posting quarterly results.</p><p>First-quarter earnings season is on the wane, with 456 constituents of the S&amp;P 500 having reported. Of those, 86.8% have beaten consensus estimates, according to Refinitiv IBES.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 6.05-to-1 ratio; on Nasdaq, a 3.84-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted nine new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 118 new lows.</p><p>Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.44 billion average over the last 20 trading days.</p><p><b><i>Financial&nbsp;Report</i></b></p><p><a href=\"https://laohu8.com/NW/2135975610\" target=\"_blank\">AppLovin stock wobbles following first public quarterly results</a></p><p><a href=\"https://laohu8.com/NW/2135361078\" target=\"_blank\">Wish stock plunges after earnings, is more than half off the IPO price</a></p><p><a href=\"https://laohu8.com/NW/2135610373\" target=\"_blank\">Poshmark Q1 sales rise 42%, but stock tanks after hours</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street ends with broad sell-off on spiking inflation fears</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street ends with broad sell-off on spiking inflation fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-13 04:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* U.S. consumer prices jump most since June 2009</p><p>* Megacap growth stocks weigh heaviest</p><p>* Energy shares gain as crude climbs</p><p>* Indexes down: Dow 1.99%, S&amp;P 2.14%, Nasdaq 2.67%</p><p>NEW YORK, May 12 (Reuters) - Wall Street closed lower on Wednesday with the S&amp;P suffering its biggest <a href=\"https://laohu8.com/S/AONE\">one</a>-day percentage drop since February, as inflation data fueled concerns over whether interest rate hikes from the Fed could happen sooner than anticipated.</p><p>All three major U.S. stock indexes ended the session deep in the red following the Labor Department's April consumer prices report, which showed the biggest rise in nearly 12 years.</p><p>The report was hotly anticipated by market participants who have grown increasingly worried over whether current price jumps will defy the U.S. Federal Reserve's reassurances by morphing into long-term inflation.</p><p>But pent-up demand from consumers flush with stimulus and savings is colliding with a supply drought, sending commodity prices spiking, while a labor shortage drives wages higher.</p><p>\"The topic on everyone's mind is obviously inflation,\" said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. \"It's something the (Fed) has been looking for and they're finally getting their wish.\"</p><p>\"The question is how long will its fires run hot before starting to simmer?\"</p><p>That concern is shared by Stuart Cole, head macro economist at Equiti Capital in London.</p><p>\"Going forward, the big question is just how long can the Fed maintain its dovish stance in opposition to the markets,\" Cole said. \"Particularly if companies begin raising wages to encourage unemployed labor back into the workforce, in turn driving a large hole in the Fed’s transitory inflation argument.\"</p><p>Core consumer prices <a href=\"https://laohu8.com/S/CPI.UK\">$(CPI.UK)$</a>, which exclude volatile food and energy items, grew at 3% year-on-year, shooting above the central bank's average annual 2% inflation growth target.</p><p>The Dow Jones Industrial Averagefell 681.5 points, or 1.99%, to 33,587.66, the S&amp;P 500    lost 89.06 points, or 2.14%, to 4,063.04 and the Nasdaq Composite    dropped 357.75 points, or 2.67%, to 13,031.68.</p><p>Of the 11 major sectors in the S&amp;P 500, 10 closed in negative territory, with consumer discretionary    down most.</p><p>Energy&nbsp;was the sole gainer, advancing 0.1%, boosted by rising crude prices.</p><p>Market-leading mega-caps, including Amazon.com Inc, Apple Inc, Alphabet In, Microsoft Corp&nbsp;and Tesla Inc, fell between 2% and 3% as investors shied away from what many feel are stretched valuations.</p><p>\"The CPI number being stronger than expected has led to further weakness in tech stocks,\" said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. \"Tech investors are concerned that higher rates are going to lead to multiple compression and less attractive valuations for tech names in a higher rate environment.\"</p><p>The CBOE Volatility index   , a gauge of market anxiety, close at 27.64, its highest level since March 4.</p><p>Online dating platform Bumble Inc    gained in after-hours trading after posting quarterly results.</p><p>First-quarter earnings season is on the wane, with 456 constituents of the S&amp;P 500 having reported. Of those, 86.8% have beaten consensus estimates, according to Refinitiv IBES.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 6.05-to-1 ratio; on Nasdaq, a 3.84-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted nine new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 118 new lows.</p><p>Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.44 billion average over the last 20 trading days.</p><p><b><i>Financial&nbsp;Report</i></b></p><p><a href=\"https://laohu8.com/NW/2135975610\" target=\"_blank\">AppLovin stock wobbles following first public quarterly results</a></p><p><a href=\"https://laohu8.com/NW/2135361078\" target=\"_blank\">Wish stock plunges after earnings, is more than half off the IPO price</a></p><p><a href=\"https://laohu8.com/NW/2135610373\" target=\"_blank\">Poshmark Q1 sales rise 42%, but stock tanks after hours</a></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135584610","content_text":"* U.S. consumer prices jump most since June 2009* Megacap growth stocks weigh heaviest* Energy shares gain as crude climbs* Indexes down: Dow 1.99%, S&P 2.14%, Nasdaq 2.67%NEW YORK, May 12 (Reuters) - Wall Street closed lower on Wednesday with the S&P suffering its biggest one-day percentage drop since February, as inflation data fueled concerns over whether interest rate hikes from the Fed could happen sooner than anticipated.All three major U.S. stock indexes ended the session deep in the red following the Labor Department's April consumer prices report, which showed the biggest rise in nearly 12 years.The report was hotly anticipated by market participants who have grown increasingly worried over whether current price jumps will defy the U.S. Federal Reserve's reassurances by morphing into long-term inflation.But pent-up demand from consumers flush with stimulus and savings is colliding with a supply drought, sending commodity prices spiking, while a labor shortage drives wages higher.\"The topic on everyone's mind is obviously inflation,\" said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. \"It's something the (Fed) has been looking for and they're finally getting their wish.\"\"The question is how long will its fires run hot before starting to simmer?\"That concern is shared by Stuart Cole, head macro economist at Equiti Capital in London.\"Going forward, the big question is just how long can the Fed maintain its dovish stance in opposition to the markets,\" Cole said. \"Particularly if companies begin raising wages to encourage unemployed labor back into the workforce, in turn driving a large hole in the Fed’s transitory inflation argument.\"Core consumer prices $(CPI.UK)$, which exclude volatile food and energy items, grew at 3% year-on-year, shooting above the central bank's average annual 2% inflation growth target.The Dow Jones Industrial Averagefell 681.5 points, or 1.99%, to 33,587.66, the S&P 500    lost 89.06 points, or 2.14%, to 4,063.04 and the Nasdaq Composite    dropped 357.75 points, or 2.67%, to 13,031.68.Of the 11 major sectors in the S&P 500, 10 closed in negative territory, with consumer discretionary    down most.Energy was the sole gainer, advancing 0.1%, boosted by rising crude prices.Market-leading mega-caps, including Amazon.com Inc, Apple Inc, Alphabet In, Microsoft Corp and Tesla Inc, fell between 2% and 3% as investors shied away from what many feel are stretched valuations.\"The CPI number being stronger than expected has led to further weakness in tech stocks,\" said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. \"Tech investors are concerned that higher rates are going to lead to multiple compression and less attractive valuations for tech names in a higher rate environment.\"The CBOE Volatility index   , a gauge of market anxiety, close at 27.64, its highest level since March 4.Online dating platform Bumble Inc    gained in after-hours trading after posting quarterly results.First-quarter earnings season is on the wane, with 456 constituents of the S&P 500 having reported. Of those, 86.8% have beaten consensus estimates, according to Refinitiv IBES.Declining issues outnumbered advancing ones on the NYSE by a 6.05-to-1 ratio; on Nasdaq, a 3.84-to-1 ratio favored decliners.The S&P 500 posted nine new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 118 new lows.Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.44 billion average over the last 20 trading days.Financial ReportAppLovin stock wobbles following first public quarterly resultsWish stock plunges after earnings, is more than half off the IPO pricePoshmark Q1 sales rise 42%, but stock tanks after hours","news_type":1},"isVote":1,"tweetType":1,"viewCount":8,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573540190522229","authorId":"3573540190522229","name":"Targarean","avatar":"https://community-static.tradeup.com/news/59de1c73df3e7e460bd84cc786850fa6","crmLevel":7,"crmLevelSwitch":1},"content":"I like the way you think ??","text":"I like the way you think ??","html":"I like the way you think ??"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125720798,"gmtCreate":1624695735114,"gmtModify":1703843825176,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and comment for good luck! ?","listText":"give a like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/125720798","repostId":"1164137597","repostType":4,"repost":{"id":"1164137597","pubTimestamp":1624671774,"share":"https://www.laohu8.com/m/news/1164137597?lang=&edition=full","pubTime":"2021-06-26 09:42","market":"us","language":"en","title":"Alibaba: Can BABA Get Back To $300? Yes, It Can","url":"https://stock-news.laohu8.com/highlight/detail?id=1164137597","media":"seekingalpha","summary":"The recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.The Chinese economy is expected to become the world's largest economy by 2028 and more than 500 million people will be part of the middle class by end of 2023.Alibaba will experience tailwinds from individuals and businesses spending more money during this period of growth in China.Alibaba is the dominant force in cloud services in China which could become a significant revenue g","content":"<p><b>Summary</b></p>\n<ul>\n <li>The recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.</li>\n <li>The Chinese economy is expected to become the world's largest economy by 2028 and more than 500 million people will be part of the middle class by end of 2023.</li>\n <li>Alibaba will experience tailwinds from individuals and businesses spending more money during this period of growth in China.</li>\n <li>Alibaba is the dominant force in cloud services in China which could become a significant revenue growth machine as the economy expands.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/814b0a9a0d17977f43665e2eba205b1e\" tg-width=\"1536\" tg-height=\"1024\"><span>Andrew Braun/iStock Editorial via Getty Images</span></p>\n<p>Alibaba(NYSE:BABA)operates a printing press that keeps spitting out tens of billions from total revenue down to net income. Many companies faced adversity throughout the pandemic, and some are still recovering, but not BABA. Through the worst economic environment for businesses to navigate in recent times, BABA generated over $100 billion in revenue and $20 billion in net income during their recent fiscal year. While BABA didn't get the memo about businesses facing challenges amidst the pandemic, the market must not have read BABA's earnings report or crunched the numbers.</p>\n<p>There are two Chinese companies I am bullish on, and BABA is my biggest conviction for appreciation. BABA smashed through the $300 share price level at the end of October 2020, but shareholders have been left confused and disappointed since then. It looked like BABA would turn the corner after a horrible end to 2020 as shares appreciated from $222.36 from the close of 2020 to $270.83 in the middle of February 2021. Still, the markets had other plans, and all shares of BABA have done is disappoint shareholders. If you missed the BABA train, it's time to grab your tickets and climb aboard, and if you purchased BABA during its run to $300 or early 2021 rebound, it might be time to add to your holdings. BABA is going to experience tremendous tailwinds from China's population and economic growth over the next several years, and their printing press is going to need more ink.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/86da7b532f25f563d08490ddc43cbede\" tg-width=\"640\" tg-height=\"337\"><span>(Source: Alibaba)</span></p>\n<p><b>The Alibaba printing press is open for business, and it spits out billions</b></p>\n<p>How many companies can say their annual revenue through the pandemic exceeded $100 billion? The $100 billion revenue mark is a prestigious club that companies such as&nbsp;Facebook (FB),PepsiCo (PEP),Procter &amp; Gamble (PG),Target (TGT), and&nbsp;Johnson &amp; Johnson (JNJ)&nbsp;are not part of. BABA, on the other hand, witnessed its revenue increase by 52.11% and smash through $100 billion as they generated $109.47 billion in their recent fiscal year. For the year ending March 2019, BABA's revenue increased by $16.25 billion (40.74%) to $56.15 billion, then for the March 2020 fiscal year, revenue increased another $15.82 billion (28.17%) to $71.97 billion. BABA is in the same boat as Alphabet(NASDAQ:GOOG)(GOOGL), FB, and Amazon (AMZN) as they watched the pandemic push more people to go digital which accelerated their businesses. For BABA, the forced transition to digital helped them achieve $37.5 billion (52.11%) in additional revenue as they finished their March 2021 fiscal year with $109.47 billion in revenue.</p>\n<p>Since 2013 BABA has not had a year where their annual revenue increase didn't exceed 25% Year over Year (YoY). When you think about that as a growth rate, it's remarkable for a company of BABA's size as this isn't a company chasing its first billion-dollar revenue year. Over the past 5 fiscal years, BABA's annual revenue has increased by $93.8 billion (408.08%) at an average annual rate of 48.25%. Smaller companies considered growth companies would be jealous of these rates, while many large caps are probably envious.</p>\n<p>BABA isn't a one-trick pony that can only generate tens of billions in revenue. BABA can convert right down to the bottom line. Each year BABA has increased its YoY gross profit by a minimum of 10% since 2013. In 2016 BABA generated $10.35 billion in gross profit and, over the next 5 fiscal years, increased its annual gross profit by $34.84 billion (336.68%). BABA has also never fallen below a 40% gross profit margin, Warren Buffett's magic number, as he indicates in<i>Warren Buffett and the Interpretation of Financial Statements. On page 34 of the Kindle edition,it says:</i></p>\n<blockquote>\n As a very general rule (and there are exceptions): Companies with gross profit margins of 40% or better tend to be companies with some sort of durable competitive advantage. Companies with gross profit margins below 40% tend to be companies in highly competitive industries, where competition is hurting overall profit margins (there are exceptions here, too).\n</blockquote>\n<p>The gross profit margin is important for investors to evaluate because it reveals how much of a company's revenue goes directly to producing it and if they have a moat around their business. BABA's numbers indicate they have a sufficient moat around their business that is hard to penetrate. With close to a decade of generating over 40% in gross profit margins, investors can expect that BABA's moat will protect its business operations for years to come.</p>\n<p>Moving to the bottom line BABA does a great job at generating profits. In their most recent fiscal year, BABA generated $22.98 billion in net income, converting more than 1/5th (20.99%) of their revenue to pure profits. Since 2013 BABA has only had 1 year where net income decreases YoY. With that track record, many options open up for BABA in the future as their cash stockpile continues to increase.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41a5e036f023fa4ced7666e06aa1de6b\" tg-width=\"640\" tg-height=\"444\"><span>(Source: Alibaba)</span></p>\n<p><b>Alibaba will continue to experience tailwinds as China's population and economy expands</b></p>\n<p>Alibaba&nbsp;achieved one billion annual active consumers globally in the fiscal year that ended in March 2021. BABA has 891 million consumers across China's retail marketplace, local consumer services and digital media and entertainment platforms, and approximately 240 million consumers outside China. BABA's annual active consumers in the China retail marketplaces were 811 million as it grew by 85 million YoY. BABA will focus on developing a digital commerce infrastructure that offers an upgraded consumer experience by seamlessly integrating online and offline. Through BABA's infrastructure, countless retailers have digitally transformed their businesses and created multiple retail formats that have enabled new consumption experiences by leveraging consumer insights and technology. BABA's ecosystem, supply chain, and diversified fulfillment services have facilitated an immense digital transformation. By investing in its infrastructure, BABA's customers can now leverage a full range of high-frequency fulfillment services that include on-demand delivery, same-or-next day delivery, and next-day pick-up services for a full range of consumable and physical products.</p>\n<p>BABA will continue to be one of the cornerstones that supports growth within China's economy, which is benefiting from the acceleration of digitalization in all aspects of life and work. China is projected to be the world's largest economy by 2028. The per-capita income in China is expected to grow by roughly 50% from 2020 to 2025.China's average economic growth&nbsp;has been projected to increase at a rate of 5.7% from 2021 to 2025, then slow to 4.5% from 2026 to 2030. As a result,China&nbsp;is on track to join the top 1/3rd of nations and overtake 56 countries in the per capita income rankings by 2025. By the end of 2022, McKinsey&nbsp;predicts&nbsp;that the middle class could expand to 550 million people which is larger than the entire U.S population.</p>\n<p>If the projections for China are correct, this should mean a windfall of cash lining BABA's coffers. It's a simple recipe; when people make more money, they tend to spend more money to enhance their lives and increase their standard of living. As BABA is a dominant force in China's retail sector, they stand to benefit from a growing economy and a larger middle class. At the end of next year, if China has anywhere close to 550 million individuals in the middle class, I believe BABA's revenue and profits will increase significantly. This trend can provide tailwinds throughout the decade for BABA, and eventually, the market will reward shareholders based on BABA's value proposition.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bbde4a092d19118a2d16daabf5c027d7\" tg-width=\"640\" tg-height=\"463\"><span>(Source: Blomberg)</span></p>\n<p><b>Alibaba has tremendous growth prospects in Cloud as China continues its digitization</b></p>\n<p>Cloud computing has been red hot in the U.S. as the transition from on-prem to cloud has increased the technological capabilities for many organizations. As digitization progresses across the business landscape, cloud providers continue to increase revenue generated from their cloud segments within their overall revenue mix. For example, AWS, the cloud computing division from&nbsp;AMZN, generated $45.37 billion in 2020. Cloud continues to be an exciting sector because the digital transformation is far from being over. Hence, the prospects of new customers are enormous while reoccurring revenue is generated after the transition occurs.</p>\n<p>In China, cloud infrastructure services are still in the early innings as the entire spend was around $15 billion in 2020. In Q1 of 2021, cloud infrastructure services in&nbsp;China&nbsp;grew by 55% YoY as it reached $6 billion. China was the 2nd largest market behind the U.S, accounting for 14% of global investment, up from 12% in Q1 of 2020. With cloud spending and digitization in China increasing, this serves as a major runway for growth in Alibaba Cloud.</p>\n<p>As China's economy expands, businesses will need to become more efficient to support both operations and customer demands. Chinese companies will need to implement infrastructure that can support a digital age of the workforce while supporting cloud services used by consumers for consumption. If China passes the U.S. as the world's largest economy in the second half of this decade, the amount of growth needed in cloud services will be immense. BABA is already the leader in cloud infrastructure services in China as their 39.8% market share accounted for $2.39 billion of the $6 billion spent in Q1 2021. Over the previous 6 quarters, cloud infrastructure spending has increased by roughly $2.3 billion (76.67%) in China. Based on cloud's current trajectory, quarterly revenue is on track to double over the next 2 years, putting Q1 2023 revenue at $10.6 billion. If BABA has a 35% market share, their Q1 2023 would be $3.71 billion, placing their 2023 revenue for cloud at $14.84 billion without factoring in any growth in 2023. From a cloud aspect, China's future spending is very exciting, and BABA will be one of the major benefactors.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1759b81ce463d503a165d901e2e50d7c\" tg-width=\"640\" tg-height=\"728\"><span>(Source: Canalys)</span></p>\n<p><b>Alibaba has stellar financial metrics and is undervalued compared to the U.S. tech conglomerates</b></p>\n<p>For this comparison, I am going to use AMZN and GOOGL as they have been establishing their dominance in the U.S. for more than a decade. First, here are the raw numbers for AMZN, BABA, and GOOGL:</p>\n<ul>\n <li>AMZN</li>\n <li>BABA</li>\n <li>GOOGL</li>\n</ul>\n<p>The market currently places a multiple of 17.03x on AMZN's equity compared to its market cap, while its revenue multiple is 4.2x. GOOGL has a multiple of 7.17x on its equity and 8.39x on its revenue compared to market cap. AMZN and GOOGL's market caps exceed $1.5 trillion, while BABA's sits at $575.57 billion. The market is placing a 3.5x multiple on BABA's equity and 5.26x on its revenue compared to the market cap. Thus, the market is severely discounting BABA's equity and revenue generation. BABA's equity is worth 28.58% of its market cap, while AMZN's equity is equivalent to 5.87%, and GOOGL's is 13.94% of its market cap. The current discount placed on BABA's equity could create an additional tailwind for shareholders in the future.</p>\n<p><b>Conclusion</b></p>\n<p>It's hard to dismiss the growth opportunities some companies in China are presenting, especially after the recent decline in share prices. However, I believe shares of BABA are currently undervalued based on their current financial metrics and growth rates. China's economy and the amount of capital allocated to cloud service infrastructure are expected to grow substantially over the years. These will create powerful tailwinds for BABA throughout this decade. As a result, I think shareholders have been allowed to establish a BABA or dollar cost average position at a discounted price. I plan on continuing to add shares to my position while the market is discounting BABA.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: Can BABA Get Back To $300? Yes, It Can</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba: Can BABA Get Back To $300? Yes, It Can\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-26 09:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436373-alibaba-can-get-back-to-300><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.\nThe Chinese economy is expected to become the world's largest economy by...</p>\n\n<a href=\"https://seekingalpha.com/article/4436373-alibaba-can-get-back-to-300\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4436373-alibaba-can-get-back-to-300","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164137597","content_text":"Summary\n\nThe recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.\nThe Chinese economy is expected to become the world's largest economy by 2028 and more than 500 million people will be part of the middle class by end of 2023.\nAlibaba will experience tailwinds from individuals and businesses spending more money during this period of growth in China.\nAlibaba is the dominant force in cloud services in China which could become a significant revenue growth machine as the economy expands.\n\nAndrew Braun/iStock Editorial via Getty Images\nAlibaba(NYSE:BABA)operates a printing press that keeps spitting out tens of billions from total revenue down to net income. Many companies faced adversity throughout the pandemic, and some are still recovering, but not BABA. Through the worst economic environment for businesses to navigate in recent times, BABA generated over $100 billion in revenue and $20 billion in net income during their recent fiscal year. While BABA didn't get the memo about businesses facing challenges amidst the pandemic, the market must not have read BABA's earnings report or crunched the numbers.\nThere are two Chinese companies I am bullish on, and BABA is my biggest conviction for appreciation. BABA smashed through the $300 share price level at the end of October 2020, but shareholders have been left confused and disappointed since then. It looked like BABA would turn the corner after a horrible end to 2020 as shares appreciated from $222.36 from the close of 2020 to $270.83 in the middle of February 2021. Still, the markets had other plans, and all shares of BABA have done is disappoint shareholders. If you missed the BABA train, it's time to grab your tickets and climb aboard, and if you purchased BABA during its run to $300 or early 2021 rebound, it might be time to add to your holdings. BABA is going to experience tremendous tailwinds from China's population and economic growth over the next several years, and their printing press is going to need more ink.\n(Source: Alibaba)\nThe Alibaba printing press is open for business, and it spits out billions\nHow many companies can say their annual revenue through the pandemic exceeded $100 billion? The $100 billion revenue mark is a prestigious club that companies such as Facebook (FB),PepsiCo (PEP),Procter & Gamble (PG),Target (TGT), and Johnson & Johnson (JNJ) are not part of. BABA, on the other hand, witnessed its revenue increase by 52.11% and smash through $100 billion as they generated $109.47 billion in their recent fiscal year. For the year ending March 2019, BABA's revenue increased by $16.25 billion (40.74%) to $56.15 billion, then for the March 2020 fiscal year, revenue increased another $15.82 billion (28.17%) to $71.97 billion. BABA is in the same boat as Alphabet(NASDAQ:GOOG)(GOOGL), FB, and Amazon (AMZN) as they watched the pandemic push more people to go digital which accelerated their businesses. For BABA, the forced transition to digital helped them achieve $37.5 billion (52.11%) in additional revenue as they finished their March 2021 fiscal year with $109.47 billion in revenue.\nSince 2013 BABA has not had a year where their annual revenue increase didn't exceed 25% Year over Year (YoY). When you think about that as a growth rate, it's remarkable for a company of BABA's size as this isn't a company chasing its first billion-dollar revenue year. Over the past 5 fiscal years, BABA's annual revenue has increased by $93.8 billion (408.08%) at an average annual rate of 48.25%. Smaller companies considered growth companies would be jealous of these rates, while many large caps are probably envious.\nBABA isn't a one-trick pony that can only generate tens of billions in revenue. BABA can convert right down to the bottom line. Each year BABA has increased its YoY gross profit by a minimum of 10% since 2013. In 2016 BABA generated $10.35 billion in gross profit and, over the next 5 fiscal years, increased its annual gross profit by $34.84 billion (336.68%). BABA has also never fallen below a 40% gross profit margin, Warren Buffett's magic number, as he indicates inWarren Buffett and the Interpretation of Financial Statements. On page 34 of the Kindle edition,it says:\n\n As a very general rule (and there are exceptions): Companies with gross profit margins of 40% or better tend to be companies with some sort of durable competitive advantage. Companies with gross profit margins below 40% tend to be companies in highly competitive industries, where competition is hurting overall profit margins (there are exceptions here, too).\n\nThe gross profit margin is important for investors to evaluate because it reveals how much of a company's revenue goes directly to producing it and if they have a moat around their business. BABA's numbers indicate they have a sufficient moat around their business that is hard to penetrate. With close to a decade of generating over 40% in gross profit margins, investors can expect that BABA's moat will protect its business operations for years to come.\nMoving to the bottom line BABA does a great job at generating profits. In their most recent fiscal year, BABA generated $22.98 billion in net income, converting more than 1/5th (20.99%) of their revenue to pure profits. Since 2013 BABA has only had 1 year where net income decreases YoY. With that track record, many options open up for BABA in the future as their cash stockpile continues to increase.\n(Source: Alibaba)\nAlibaba will continue to experience tailwinds as China's population and economy expands\nAlibaba achieved one billion annual active consumers globally in the fiscal year that ended in March 2021. BABA has 891 million consumers across China's retail marketplace, local consumer services and digital media and entertainment platforms, and approximately 240 million consumers outside China. BABA's annual active consumers in the China retail marketplaces were 811 million as it grew by 85 million YoY. BABA will focus on developing a digital commerce infrastructure that offers an upgraded consumer experience by seamlessly integrating online and offline. Through BABA's infrastructure, countless retailers have digitally transformed their businesses and created multiple retail formats that have enabled new consumption experiences by leveraging consumer insights and technology. BABA's ecosystem, supply chain, and diversified fulfillment services have facilitated an immense digital transformation. By investing in its infrastructure, BABA's customers can now leverage a full range of high-frequency fulfillment services that include on-demand delivery, same-or-next day delivery, and next-day pick-up services for a full range of consumable and physical products.\nBABA will continue to be one of the cornerstones that supports growth within China's economy, which is benefiting from the acceleration of digitalization in all aspects of life and work. China is projected to be the world's largest economy by 2028. The per-capita income in China is expected to grow by roughly 50% from 2020 to 2025.China's average economic growth has been projected to increase at a rate of 5.7% from 2021 to 2025, then slow to 4.5% from 2026 to 2030. As a result,China is on track to join the top 1/3rd of nations and overtake 56 countries in the per capita income rankings by 2025. By the end of 2022, McKinsey predicts that the middle class could expand to 550 million people which is larger than the entire U.S population.\nIf the projections for China are correct, this should mean a windfall of cash lining BABA's coffers. It's a simple recipe; when people make more money, they tend to spend more money to enhance their lives and increase their standard of living. As BABA is a dominant force in China's retail sector, they stand to benefit from a growing economy and a larger middle class. At the end of next year, if China has anywhere close to 550 million individuals in the middle class, I believe BABA's revenue and profits will increase significantly. This trend can provide tailwinds throughout the decade for BABA, and eventually, the market will reward shareholders based on BABA's value proposition.\n(Source: Blomberg)\nAlibaba has tremendous growth prospects in Cloud as China continues its digitization\nCloud computing has been red hot in the U.S. as the transition from on-prem to cloud has increased the technological capabilities for many organizations. As digitization progresses across the business landscape, cloud providers continue to increase revenue generated from their cloud segments within their overall revenue mix. For example, AWS, the cloud computing division from AMZN, generated $45.37 billion in 2020. Cloud continues to be an exciting sector because the digital transformation is far from being over. Hence, the prospects of new customers are enormous while reoccurring revenue is generated after the transition occurs.\nIn China, cloud infrastructure services are still in the early innings as the entire spend was around $15 billion in 2020. In Q1 of 2021, cloud infrastructure services in China grew by 55% YoY as it reached $6 billion. China was the 2nd largest market behind the U.S, accounting for 14% of global investment, up from 12% in Q1 of 2020. With cloud spending and digitization in China increasing, this serves as a major runway for growth in Alibaba Cloud.\nAs China's economy expands, businesses will need to become more efficient to support both operations and customer demands. Chinese companies will need to implement infrastructure that can support a digital age of the workforce while supporting cloud services used by consumers for consumption. If China passes the U.S. as the world's largest economy in the second half of this decade, the amount of growth needed in cloud services will be immense. BABA is already the leader in cloud infrastructure services in China as their 39.8% market share accounted for $2.39 billion of the $6 billion spent in Q1 2021. Over the previous 6 quarters, cloud infrastructure spending has increased by roughly $2.3 billion (76.67%) in China. Based on cloud's current trajectory, quarterly revenue is on track to double over the next 2 years, putting Q1 2023 revenue at $10.6 billion. If BABA has a 35% market share, their Q1 2023 would be $3.71 billion, placing their 2023 revenue for cloud at $14.84 billion without factoring in any growth in 2023. From a cloud aspect, China's future spending is very exciting, and BABA will be one of the major benefactors.\n(Source: Canalys)\nAlibaba has stellar financial metrics and is undervalued compared to the U.S. tech conglomerates\nFor this comparison, I am going to use AMZN and GOOGL as they have been establishing their dominance in the U.S. for more than a decade. First, here are the raw numbers for AMZN, BABA, and GOOGL:\n\nAMZN\nBABA\nGOOGL\n\nThe market currently places a multiple of 17.03x on AMZN's equity compared to its market cap, while its revenue multiple is 4.2x. GOOGL has a multiple of 7.17x on its equity and 8.39x on its revenue compared to market cap. AMZN and GOOGL's market caps exceed $1.5 trillion, while BABA's sits at $575.57 billion. The market is placing a 3.5x multiple on BABA's equity and 5.26x on its revenue compared to the market cap. Thus, the market is severely discounting BABA's equity and revenue generation. BABA's equity is worth 28.58% of its market cap, while AMZN's equity is equivalent to 5.87%, and GOOGL's is 13.94% of its market cap. The current discount placed on BABA's equity could create an additional tailwind for shareholders in the future.\nConclusion\nIt's hard to dismiss the growth opportunities some companies in China are presenting, especially after the recent decline in share prices. However, I believe shares of BABA are currently undervalued based on their current financial metrics and growth rates. China's economy and the amount of capital allocated to cloud service infrastructure are expected to grow substantially over the years. These will create powerful tailwinds for BABA throughout this decade. As a result, I think shareholders have been allowed to establish a BABA or dollar cost average position at a discounted price. I plan on continuing to add shares to my position while the market is discounting BABA.","news_type":1},"isVote":1,"tweetType":1,"viewCount":167,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3582633338719689","authorId":"3582633338719689","name":"CharWF","avatar":"https://static.tigerbbs.com/480b91cd8f3c49bc36c742b17b0ae054","crmLevel":2,"crmLevelSwitch":0},"content":"lucky... let's huat.","text":"lucky... let's huat.","html":"lucky... let's huat."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186061880,"gmtCreate":1623465619040,"gmtModify":1704204392876,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"celebrate the small wins!","listText":"celebrate the small wins!","text":"celebrate the small wins!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/186061880","repostId":"2142204074","repostType":4,"repost":{"id":"2142204074","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623441637,"share":"https://www.laohu8.com/m/news/2142204074?lang=&edition=full","pubTime":"2021-06-12 04:00","market":"us","language":"en","title":"S&P ekes out gains to close languid week","url":"https://stock-news.laohu8.com/highlight/detail?id=2142204074","media":"Reuters","summary":"NEW YORK, June 11  - The S&P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.Economically sensitive smallcaps and transports notched solid gains, outperforming the broader market.For the week, the S&P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.But th","content":"<p>NEW YORK, June 11 (Reuters) - The S&amp;P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.</p>\n<p>Economically sensitive smallcaps and transports&nbsp;notched solid gains, outperforming the broader market.</p>\n<p>For the week, the S&amp;P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.</p>\n<p>But the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.</p>\n<p>\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"</p>\n<p>\"So, investors are going to wait until earnings season.\"</p>\n<p>The Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.</p>\n<p>Investors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.</p>\n<p>\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.</p>\n<p>Benchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.</p>\n<p>The Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's</p>\n<p>Alzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.</p>\n<p>Biogen shares, along with the broader healthcare sector&nbsp;ended the session lower.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&amp;P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite&nbsp;added 49.09 points, or 0.35%, to 14,069.42.</p>\n<p>Among the 11 major sectors in the S&amp;P 500, healthcare suffered the biggest percentage drop.</p>\n<p>Much of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.</p>\n<p>But meme stock moves were more muted on Friday, with AMC Entertainment outperforming.</p>\n<p>(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P ekes out gains to close languid week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P ekes out gains to close languid week\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-12 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, June 11 (Reuters) - The S&amp;P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.</p>\n<p>Economically sensitive smallcaps and transports&nbsp;notched solid gains, outperforming the broader market.</p>\n<p>For the week, the S&amp;P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.</p>\n<p>But the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.</p>\n<p>\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"</p>\n<p>\"So, investors are going to wait until earnings season.\"</p>\n<p>The Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.</p>\n<p>Investors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.</p>\n<p>\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.</p>\n<p>Benchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.</p>\n<p>The Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's</p>\n<p>Alzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.</p>\n<p>Biogen shares, along with the broader healthcare sector&nbsp;ended the session lower.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&amp;P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite&nbsp;added 49.09 points, or 0.35%, to 14,069.42.</p>\n<p>Among the 11 major sectors in the S&amp;P 500, healthcare suffered the biggest percentage drop.</p>\n<p>Much of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.</p>\n<p>But meme stock moves were more muted on Friday, with AMC Entertainment outperforming.</p>\n<p>(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","DOG":"道指反向ETF",".IXIC":"NASDAQ Composite","QQQ":"纳指100ETF","TQQQ":"纳指三倍做多ETF","QLD":"纳指两倍做多ETF","OEX":"标普100",".SPX":"S&P 500 Index","DXD":"道指两倍做空ETF","SSO":"两倍做多标普500ETF","SDOW":"道指三倍做空ETF-ProShares","DJX":"1/100道琼斯","SQQQ":"纳指三倍做空ETF","SDS":"两倍做空标普500ETF","SH":"标普500反向ETF","IVV":"标普500指数ETF",".DJI":"道琼斯","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares","QID":"纳指两倍做空ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","DDM":"道指两倍做多ETF","PSQ":"纳指反向ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142204074","content_text":"NEW YORK, June 11 (Reuters) - The S&P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.\nEconomically sensitive smallcaps and transports notched solid gains, outperforming the broader market.\nFor the week, the S&P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.\nBut the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.\n\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"\n\"So, investors are going to wait until earnings season.\"\nThe Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.\nInvestors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.\n\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.\nBenchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.\nThe Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's\nAlzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.\nBiogen shares, along with the broader healthcare sector ended the session lower.\nUnofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite added 49.09 points, or 0.35%, to 14,069.42.\nAmong the 11 major sectors in the S&P 500, healthcare suffered the biggest percentage drop.\nMuch of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.\nBut meme stock moves were more muted on Friday, with AMC Entertainment outperforming.\n(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)","news_type":1},"isVote":1,"tweetType":1,"viewCount":233,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136922823,"gmtCreate":1621991172762,"gmtModify":1704365557443,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and comment for good luck! ?","listText":"give a like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/136922823","repostId":"2138196079","repostType":4,"isVote":1,"tweetType":1,"viewCount":28,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340428036,"gmtCreate":1617457278325,"gmtModify":1704699829867,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"be disciplined to take profit","listText":"be disciplined to take profit","text":"be disciplined to take profit","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/340428036","repostId":"2124078088","repostType":4,"repost":{"id":"2124078088","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1617355560,"share":"https://www.laohu8.com/m/news/2124078088?lang=&edition=full","pubTime":"2021-04-02 17:26","market":"us","language":"en","title":"'Increasingly euphoric' stock-market sentiment on cusp of sending 'sell' signal","url":"https://stock-news.laohu8.com/highlight/detail?id=2124078088","media":"Dow Jones","summary":"Cyclical rebound, vaccine, stimulus appear priced into the market: BofA.\n\nWall Street's finest are s","content":"<blockquote>\n <b>Cyclical rebound, vaccine, stimulus appear priced into the market: BofA.</b>\n</blockquote>\n<p>Wall Street's finest are so bullish on stocks that a contrarian sentiment gauge is on the verge of sending a sell signal.</p>\n<p>BofA analysts led by Savita Subramanian said in a Thursday note that the bank's Sell Side Indicator, which tracks the average recommended equity allocation by Wall Street's sell-side strategists, rose for a third straight month in March to hit 59.4%, up from 59.2% in February.</p>\n<p>That puts the indicator at a 10-year high and less than a point away from a contrarian \"sell\" signal, its closest since May 2007, when the S&amp;P 500 index fell 7% over the subsequent 12-month period (see chart below).</p>\n<p>Investors and analysts pay close attention to a range of sentiment measures. Extreme bullish or bearish readings are often viewed as contrarian signals that markets are due for a either a bounce or a pullback.</p>\n<p>The S&amp;P 500 on Thursday pushed above the 4,000 milestone for the first time, while the Dow Jones Industrial Average traded not far off its all-time high. U.S. stocks rallied in the first quarter, with cyclically sensitive shares leading the way as aggressive fiscal stimulus measures and rapid vaccine rollouts stoked expectations for a post-COVID economic boom.</p>\n<p>\"Increasingly euphoric sentiment is a key reason for our neutral outlook as the cyclical rebound, vaccine, stimulus, etc. is largely priced into the market,\" the analysts wrote. Stocks have rebounded sharply after plunging into a bear market that bottomed out last March as the pandemic began to take hold.</p>\n<p>The analysts noted that since last March, the average recommended equity allocation has risen by over three times the typical rate. It's up 450 basis points, or 4.5 percentage points, over the last 12 months versus the average of 138 basis points following previous bear markets.</p>\n<p>\"We've found Wall Street's bullishness to be a reliable contrarian indicator,\" they wrote.</p>\n<p>For now, the indicator remains in \"neutral\" territory. What does that mean for returns?</p>\n<p>The analysts noted that when the indicator has been at or below its current level, subsequent 12-month returns have been positive 89% of the time. While that's encouraging, they observed that the current reading of the indicator is in line with 12-month returns of just 6%, well below the average 12-month forecast of 14% since the end of the 2008 global financial crisis, adding the standard caveat that past performance isn't an indication of future results.</p>\n<p>The analysts said investors would be best served by focusing on areas sensitive to the real economy, including cyclical and value stocks, capital-expenditure beneficiaries and small-caps as President Joe Biden attempts to push through his $2 trillion infrastructure spending plan.</p>\n<p>\"But it's not all blue skies. The market appears to already be pricing in additional stimulus and the focus is shifting to paying it back (i.e., higher taxes),\" they warned. \"Valuations today are signaling anemic long-term returns and rising rates are also a headwind for both income investors, who have piled into equities amid low rates, and corporate margins.\"</p>\n<p>They also see room for volatility to pick up in the second half of the year. That said, \"staying invested is an underappreciated way to avoid losses,\" they wrote, with a focus on fundamental factors over momentum and positioning factors winning over the long run. A focus on quality stocks, which are \"cheap and neglected\" can also provide a hedge against volatility, they said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'Increasingly euphoric' stock-market sentiment on cusp of sending 'sell' signal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'Increasingly euphoric' stock-market sentiment on cusp of sending 'sell' signal\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-04-02 17:26</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n <b>Cyclical rebound, vaccine, stimulus appear priced into the market: BofA.</b>\n</blockquote>\n<p>Wall Street's finest are so bullish on stocks that a contrarian sentiment gauge is on the verge of sending a sell signal.</p>\n<p>BofA analysts led by Savita Subramanian said in a Thursday note that the bank's Sell Side Indicator, which tracks the average recommended equity allocation by Wall Street's sell-side strategists, rose for a third straight month in March to hit 59.4%, up from 59.2% in February.</p>\n<p>That puts the indicator at a 10-year high and less than a point away from a contrarian \"sell\" signal, its closest since May 2007, when the S&amp;P 500 index fell 7% over the subsequent 12-month period (see chart below).</p>\n<p>Investors and analysts pay close attention to a range of sentiment measures. Extreme bullish or bearish readings are often viewed as contrarian signals that markets are due for a either a bounce or a pullback.</p>\n<p>The S&amp;P 500 on Thursday pushed above the 4,000 milestone for the first time, while the Dow Jones Industrial Average traded not far off its all-time high. U.S. stocks rallied in the first quarter, with cyclically sensitive shares leading the way as aggressive fiscal stimulus measures and rapid vaccine rollouts stoked expectations for a post-COVID economic boom.</p>\n<p>\"Increasingly euphoric sentiment is a key reason for our neutral outlook as the cyclical rebound, vaccine, stimulus, etc. is largely priced into the market,\" the analysts wrote. Stocks have rebounded sharply after plunging into a bear market that bottomed out last March as the pandemic began to take hold.</p>\n<p>The analysts noted that since last March, the average recommended equity allocation has risen by over three times the typical rate. It's up 450 basis points, or 4.5 percentage points, over the last 12 months versus the average of 138 basis points following previous bear markets.</p>\n<p>\"We've found Wall Street's bullishness to be a reliable contrarian indicator,\" they wrote.</p>\n<p>For now, the indicator remains in \"neutral\" territory. What does that mean for returns?</p>\n<p>The analysts noted that when the indicator has been at or below its current level, subsequent 12-month returns have been positive 89% of the time. While that's encouraging, they observed that the current reading of the indicator is in line with 12-month returns of just 6%, well below the average 12-month forecast of 14% since the end of the 2008 global financial crisis, adding the standard caveat that past performance isn't an indication of future results.</p>\n<p>The analysts said investors would be best served by focusing on areas sensitive to the real economy, including cyclical and value stocks, capital-expenditure beneficiaries and small-caps as President Joe Biden attempts to push through his $2 trillion infrastructure spending plan.</p>\n<p>\"But it's not all blue skies. The market appears to already be pricing in additional stimulus and the focus is shifting to paying it back (i.e., higher taxes),\" they warned. \"Valuations today are signaling anemic long-term returns and rising rates are also a headwind for both income investors, who have piled into equities amid low rates, and corporate margins.\"</p>\n<p>They also see room for volatility to pick up in the second half of the year. That said, \"staying invested is an underappreciated way to avoid losses,\" they wrote, with a focus on fundamental factors over momentum and positioning factors winning over the long run. A focus on quality stocks, which are \"cheap and neglected\" can also provide a hedge against volatility, they said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124078088","content_text":"Cyclical rebound, vaccine, stimulus appear priced into the market: BofA.\n\nWall Street's finest are so bullish on stocks that a contrarian sentiment gauge is on the verge of sending a sell signal.\nBofA analysts led by Savita Subramanian said in a Thursday note that the bank's Sell Side Indicator, which tracks the average recommended equity allocation by Wall Street's sell-side strategists, rose for a third straight month in March to hit 59.4%, up from 59.2% in February.\nThat puts the indicator at a 10-year high and less than a point away from a contrarian \"sell\" signal, its closest since May 2007, when the S&P 500 index fell 7% over the subsequent 12-month period (see chart below).\nInvestors and analysts pay close attention to a range of sentiment measures. Extreme bullish or bearish readings are often viewed as contrarian signals that markets are due for a either a bounce or a pullback.\nThe S&P 500 on Thursday pushed above the 4,000 milestone for the first time, while the Dow Jones Industrial Average traded not far off its all-time high. U.S. stocks rallied in the first quarter, with cyclically sensitive shares leading the way as aggressive fiscal stimulus measures and rapid vaccine rollouts stoked expectations for a post-COVID economic boom.\n\"Increasingly euphoric sentiment is a key reason for our neutral outlook as the cyclical rebound, vaccine, stimulus, etc. is largely priced into the market,\" the analysts wrote. Stocks have rebounded sharply after plunging into a bear market that bottomed out last March as the pandemic began to take hold.\nThe analysts noted that since last March, the average recommended equity allocation has risen by over three times the typical rate. It's up 450 basis points, or 4.5 percentage points, over the last 12 months versus the average of 138 basis points following previous bear markets.\n\"We've found Wall Street's bullishness to be a reliable contrarian indicator,\" they wrote.\nFor now, the indicator remains in \"neutral\" territory. What does that mean for returns?\nThe analysts noted that when the indicator has been at or below its current level, subsequent 12-month returns have been positive 89% of the time. While that's encouraging, they observed that the current reading of the indicator is in line with 12-month returns of just 6%, well below the average 12-month forecast of 14% since the end of the 2008 global financial crisis, adding the standard caveat that past performance isn't an indication of future results.\nThe analysts said investors would be best served by focusing on areas sensitive to the real economy, including cyclical and value stocks, capital-expenditure beneficiaries and small-caps as President Joe Biden attempts to push through his $2 trillion infrastructure spending plan.\n\"But it's not all blue skies. The market appears to already be pricing in additional stimulus and the focus is shifting to paying it back (i.e., higher taxes),\" they warned. \"Valuations today are signaling anemic long-term returns and rising rates are also a headwind for both income investors, who have piled into equities amid low rates, and corporate margins.\"\nThey also see room for volatility to pick up in the second half of the year. That said, \"staying invested is an underappreciated way to avoid losses,\" they wrote, with a focus on fundamental factors over momentum and positioning factors winning over the long run. A focus on quality stocks, which are \"cheap and neglected\" can also provide a hedge against volatility, they said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":24,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3555885399977455","authorId":"3555885399977455","name":"ookezy","avatar":"https://static.tigerbbs.com/7cf7be0a2cca939f4c77c7bcceb6f1d6","crmLevel":7,"crmLevelSwitch":1},"content":"Like and comment","text":"Like and comment","html":"Like and comment"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145976628,"gmtCreate":1626187990464,"gmtModify":1703755200034,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and comment for good luck! ?","listText":"give a like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/145976628","repostId":"1198485083","repostType":4,"repost":{"id":"1198485083","pubTimestamp":1626186297,"share":"https://www.laohu8.com/m/news/1198485083?lang=&edition=full","pubTime":"2021-07-13 22:24","market":"us","language":"en","title":"477 Days And Counting: How The Current Post-Pandemic Bull Market Compares To Bull Markets Of The Past","url":"https://stock-news.laohu8.com/highlight/detail?id=1198485083","media":"Benzinga","summary":"The S&P 500 made new all-time highs on Monday, and the bull market that started on March 23, 2020 ha","content":"<p>The S&amp;P 500 made new all-time highs on Monday, and the bull market that started on March 23, 2020 has had very few bumps in the road up to this point. The bull market is now 477 days old, and the S&amp;P 500 has rallied just over 100% since hitting its intraday pandemic low of 2,191.86 last March.</p>\n<p>It may seem like an eternity since that pandemic low in 2020, but asRitholtz portfolio manager Ben Carlson highlighted, history suggests the bull market may be just getting started.</p>\n<p><b>Bull Market Numbers:</b>A bull market is defined as a gain of at least 20% from a bear market trough. There have been 23 S&amp;P 500 bull markets since 1928. The average bull market has lasted 1,121 days, or just over three years. However, the past five bull markets have lasted at least 1,826 days.</p>\n<p>The bull market from March 2009 to February 2020 that ended when the pandemic hit lasted 3,999 days. The bull market from December 1987 to the bursting of the dot-com bubble in March 2000 lasted 4,494 days, or about 12.3 years.</p>\n<p>By duration, the current bull market is relatively young compared to most bull markets of the past. But it has certainly come a long way fast. In fact, in just 477 days, the current bull market’s 100% return off of trough lows is just 22% shy of the average bull market return since 1928.</p>\n<p>And just because a bear market was less than two years ago doesn’t mean investors are in the clear of a major market correction (a decline of at least 10% from the bull market peak) or another bear market (a decline of at least 20%). There have been 32 corrections and 21 bear markets since 1928, or roughly one every 21 months.</p>\n<p><b>Benzinga’s Take:</b>These historical numbers are a great way for investors to keep some perspective on where the S&amp;P 500 is and where it might be going. But past performance is certainly not a reliable predictor of future results, and nobody should be going long or short the&nbsp;based on historical bull market trends.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>477 Days And Counting: How The Current Post-Pandemic Bull Market Compares To Bull Markets Of The Past</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n477 Days And Counting: How The Current Post-Pandemic Bull Market Compares To Bull Markets Of The Past\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 22:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/general/education/21/07/21957243/477-days-and-counting-how-the-current-post-pandemic-bull-market-compares-to-bull-markets-of-the><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 made new all-time highs on Monday, and the bull market that started on March 23, 2020 has had very few bumps in the road up to this point. The bull market is now 477 days old, and the S&P ...</p>\n\n<a href=\"https://www.benzinga.com/general/education/21/07/21957243/477-days-and-counting-how-the-current-post-pandemic-bull-market-compares-to-bull-markets-of-the\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.benzinga.com/general/education/21/07/21957243/477-days-and-counting-how-the-current-post-pandemic-bull-market-compares-to-bull-markets-of-the","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198485083","content_text":"The S&P 500 made new all-time highs on Monday, and the bull market that started on March 23, 2020 has had very few bumps in the road up to this point. The bull market is now 477 days old, and the S&P 500 has rallied just over 100% since hitting its intraday pandemic low of 2,191.86 last March.\nIt may seem like an eternity since that pandemic low in 2020, but asRitholtz portfolio manager Ben Carlson highlighted, history suggests the bull market may be just getting started.\nBull Market Numbers:A bull market is defined as a gain of at least 20% from a bear market trough. There have been 23 S&P 500 bull markets since 1928. The average bull market has lasted 1,121 days, or just over three years. However, the past five bull markets have lasted at least 1,826 days.\nThe bull market from March 2009 to February 2020 that ended when the pandemic hit lasted 3,999 days. The bull market from December 1987 to the bursting of the dot-com bubble in March 2000 lasted 4,494 days, or about 12.3 years.\nBy duration, the current bull market is relatively young compared to most bull markets of the past. But it has certainly come a long way fast. In fact, in just 477 days, the current bull market’s 100% return off of trough lows is just 22% shy of the average bull market return since 1928.\nAnd just because a bear market was less than two years ago doesn’t mean investors are in the clear of a major market correction (a decline of at least 10% from the bull market peak) or another bear market (a decline of at least 20%). There have been 32 corrections and 21 bear markets since 1928, or roughly one every 21 months.\nBenzinga’s Take:These historical numbers are a great way for investors to keep some perspective on where the S&P 500 is and where it might be going. But past performance is certainly not a reliable predictor of future results, and nobody should be going long or short the based on historical bull market trends.","news_type":1},"isVote":1,"tweetType":1,"viewCount":19,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154301804,"gmtCreate":1625475348908,"gmtModify":1703742385046,"author":{"id":"3574029017802033","authorId":"3574029017802033","name":"kuehlapis","avatar":"https://static.tigerbbs.com/732ffeea71fc0732b84f029cc0e8263e","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"give a like and comment for good luck! ?","listText":"give a like and comment for good luck! ?","text":"give a like and comment for good luck! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/154301804","repostId":"1170100655","repostType":4,"repost":{"id":"1170100655","pubTimestamp":1625452503,"share":"https://www.laohu8.com/m/news/1170100655?lang=&edition=full","pubTime":"2021-07-05 10:35","market":"us","language":"en","title":"Best E-Commerce Stocks To Buy In July 2021? 4 Names In Focus","url":"https://stock-news.laohu8.com/highlight/detail?id=1170100655","media":"Nasdaq","summary":"Could These Be The Top E-Commerce Stocks To Watch Right Now?E-commerce stocks had a historic year in thestock marketlast year. Well, it shouldn’t come as a surprise since many countries around the world were sent into lockdown. At that point, most shopping activities were conducted online. So, even those who were skeptical of online shopping initially must have been exposed to e-commerce platforms. This is of course due to the advancement of technology as well. Some company’s platforms such as P","content":"<p>Could These Be The Top E-Commerce Stocks To Watch Right Now?</p>\n<p>E-commerce stocks had a historic year in thestock marketlast year. Well, it shouldn’t come as a surprise since many countries around the world were sent into lockdown. At that point, most shopping activities were conducted online. So, even those who were skeptical of online shopping initially must have been exposed to e-commerce platforms. This is of course due to the advancement of technology as well. Some company’s platforms such as Pinterest Inc (NYSE: PINS) even have augmented reality features that would allow you to have a rough idea of what you’re getting.</p>\n<p>The shift to online shopping has resulted in many emerging e-commerce companies. For example, we have Jumia Technologies (NYSE: JMIA) that aims to be the top online marketplace in the whole of Africa. Perhaps, this should not be overlooked as e-commerce is still a growing sector in Africa. Moreover, JMIA stock has already soared by more than 400% just within the past year. Now, if you are optimistic about the future of e-commerce, here’s a list of fourtop e-commerce stocks to watchin thestock market today.</p>\n<p>Best E-Commerce Stocks To Watch</p>\n<ul>\n <li><b><a href=\"https://laohu8.com/S/ETSY\">Etsy</a> Inc</b>(NASDAQ: ETSY)</li>\n <li><b><a href=\"https://laohu8.com/S/EBAYL\">eBay</a> Inc</b>(NASDAQ: EBAY)</li>\n <li><b><a href=\"https://laohu8.com/S/BABA\">Alibaba</a> Group Holding Ltd</b>(NYSE: BABA)</li>\n <li><b>Chewy Inc</b>(NYSE: CHWY)</li>\n</ul>\n<p><a href=\"https://laohu8.com/S/ETSY\">Etsy</a> Inc</p>\n<p>Let us start the list with Etsy. The company operates a marketplace where people globally connect, both online and offline to sell and buy goods. It also offers a range of seller services and tools that help entrepreneurs manage their businesses. As of now, the company’s seller services include Direct Checkout, Promoted Listings, Shipping Labels, and <a href=\"https://laohu8.com/S/PEGI\">Pattern</a> by Etsy. ETSY stock has risen by over 80% over the past year.</p>\n<p><img src=\"https://static.tigerbbs.com/4998810533317bc7562c92dbf9801556\" tg-width=\"250\" tg-height=\"209\" referrerpolicy=\"no-referrer\"></p>\n<p>On Monday, Etsy signed a definitive agreement to acquire Elo7, a privately held marketplace for unique, handmade items, ranked as a top 10 e-commerce site in Brazil. The Elo7 marketplace connects approximately 1.9 million active buyers with approximately 56,000 active sellers and currently has approximately 8 million items for sale. Hence, this deal would establish Etsy’s presence in Latin America, an underpenetrated e-commerce region.</p>\n<p>Etsy is not resting on its laurels. It also signed a definitive agreement to acquire Depop, a purpose-driven marketplace for unique fashion for $1.625 billion earlier in June. Depop is a community-powered marketplace to buy and sell unique fashion, with a mission to build the world’s most diverse and progressive home of fashion. It appears that 90% of Depop’s active users are under the age of 26. So, this could serve as a resale home for Gen Z consumers to the Etsy family. Given all these exciting developments, would you consider investing in ETSY stock?</p>\n<p><a href=\"https://laohu8.com/S/EBAY\">eBay</a> Inc</p>\n<p>Next, we have <a href=\"https://laohu8.com/S/AONE\">one</a> of the industry leaders of e-commerce, <a href=\"https://laohu8.com/S/EBAYL\">eBay</a>. Essentially, the company operates marketplace platforms that connect buyers and sellers globally. This includes its online marketplace at ebay.com and the <a href=\"https://laohu8.com/S/EBAY\">eBay</a> suite of mobile apps. So, you could buy, sell, and pay for items through various online and offline channels. eBay stock has been <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the better-performing stocks within the e-commerce space this year. It has climbed by over 35% year-to-date.</p>\n<p><img src=\"https://static.tigerbbs.com/3225891cc70ad7e916ca99aa07101ba2\" tg-width=\"250\" tg-height=\"209\" referrerpolicy=\"no-referrer\"></p>\n<p><a href=\"https://laohu8.com/S/JE\">Just</a> last week, the company announced the completion of the transfer of its Classifieds business to Adevinta in exchange for $2.5 billion cash and a 44% equity stake in Adevinta. This combination will hopefully create a leading global online classifieds business. In the long run, both companies will be primed to benefit from its combined portfolio that may offer additional value for its customers and shareholders.</p>\n<p>eBay also had an impressive first quarter to start the year with the highest revenue growth since 2005. Its revenue was $3.0 billion, up 42% on an as-reported basis. There was also increased activity on its platform. Annual active buyers grew by 7%, now at a total of 187 million. Meanwhile, its annual active sellers grew by 8%, for a total of 20 million. We can see that the company is firing on all cylinders as we recover from the global pandemic. With that in mind, would you add EBAY stock to your watchlist?</p>\n<p><a href=\"https://laohu8.com/S/09988\">Alibaba</a> Group Holding Ltd</p>\n<p>Coming up next, we have <a href=\"https://laohu8.com/S/AONE\">one</a> of the largest e-commerce companies in the world, <a href=\"https://laohu8.com/S/BABA\">Alibaba</a>. The company’s technology infrastructure and marketing reach help merchants and brands to leverage the power of technology to engage its users, and customers to operate. As of today, its three main sites, Taobao, Tmall, and <a href=\"https://laohu8.com/S/09988\">Alibaba</a>.com boast hundreds of millions of users and host millions of merchants and businesses.</p>\n<p><img src=\"https://static.tigerbbs.com/fd0bf902b6908baca1ebc71478c54967\" tg-width=\"250\" tg-height=\"209\" referrerpolicy=\"no-referrer\"></p>\n<p>Fundamentally, the company is as strong as ever. For its fourth-quarter fiscal 2021 earnings report, its revenue climbed to $28.6 billion, representing a 64% increase. Alibaba also reported 811 million annual active consumers in <a href=\"https://laohu8.com/S/CAAS\">China</a> which represents an 11% growth year-over-year. This is important because retaining and attracting active consumers would support the company’s business model.</p>\n<p>That said, it has not been a fantastic year for Alibaba this year. The company’s struggle this year was affected by the Chinese government. Alibaba was hit with a record fine of $2.75 billion earlier in April. However, the worst could be over for the company as the Chinese government is slowly shifting its focus to the company’s competitors. So, if you have missed the boat on BABA stock prior to this, could this be the classic buy-on-dip opportunity?</p>\n<p>Chewy Inc</p>\n<p>Last on this list, we have an e-commerce company that specializes in pet products, Chewy. In essence, it provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services. Pet lovers out there could access all these products through its chewy.com retail website, and its mobile applications. The company stock may have been trading sideways since the start of the year. But, it has still climbed by over 70% over the past year.</p>\n<p><img src=\"https://static.tigerbbs.com/15d6c920416f733d0edf62d1148a8061\" tg-width=\"250\" tg-height=\"209\" referrerpolicy=\"no-referrer\"></p>\n<p>In June, the company posted its first-quarter financial report that beat analysts’ expectations. Its net sales were $2.14 billion, growing 31.7% year-over-year. Meanwhile, its adjusted EBITDA came in at $77.4 million and its net income was $38.7 million. More importantly, Chewy added 600,000 active customers during the quarter which brings the number of active customers to 19.2 million. All in all, the company is growing in the right direction.</p>\n<p>Furthermore, Chewy also continues to innovate on their popular telehealth service, Connect with a Vet. May’s expansion includes the highly anticipated video consultation feature which allows pre-scheduling virtual vet consultation and extended hours of operation including weekends. With this, customers gain more accessibility to the company’s services and a better experience overall. With that in mind, would CHWY stock make your watchlist?</p>","source":"lsy1603171495471","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Best E-Commerce Stocks To Buy In July 2021? 4 Names In Focus</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBest E-Commerce Stocks To Buy In July 2021? 4 Names In Focus\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-05 10:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.nasdaq.com/articles/best-e-commerce-stocks-to-buy-in-july-2021-4-names-in-focus-2021-07-02><strong>Nasdaq</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Could These Be The Top E-Commerce Stocks To Watch Right Now?\nE-commerce stocks had a historic year in thestock marketlast year. Well, it shouldn’t come as a surprise since many countries around the ...</p>\n\n<a href=\"https://www.nasdaq.com/articles/best-e-commerce-stocks-to-buy-in-july-2021-4-names-in-focus-2021-07-02\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","ETSY":"Etsy, Inc.","EBAY":"eBay","CHWY":"Chewy, Inc."},"source_url":"https://www.nasdaq.com/articles/best-e-commerce-stocks-to-buy-in-july-2021-4-names-in-focus-2021-07-02","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170100655","content_text":"Could These Be The Top E-Commerce Stocks To Watch Right Now?\nE-commerce stocks had a historic year in thestock marketlast year. Well, it shouldn’t come as a surprise since many countries around the world were sent into lockdown. At that point, most shopping activities were conducted online. So, even those who were skeptical of online shopping initially must have been exposed to e-commerce platforms. This is of course due to the advancement of technology as well. Some company’s platforms such as Pinterest Inc (NYSE: PINS) even have augmented reality features that would allow you to have a rough idea of what you’re getting.\nThe shift to online shopping has resulted in many emerging e-commerce companies. For example, we have Jumia Technologies (NYSE: JMIA) that aims to be the top online marketplace in the whole of Africa. Perhaps, this should not be overlooked as e-commerce is still a growing sector in Africa. Moreover, JMIA stock has already soared by more than 400% just within the past year. Now, if you are optimistic about the future of e-commerce, here’s a list of fourtop e-commerce stocks to watchin thestock market today.\nBest E-Commerce Stocks To Watch\n\nEtsy Inc(NASDAQ: ETSY)\neBay Inc(NASDAQ: EBAY)\nAlibaba Group Holding Ltd(NYSE: BABA)\nChewy Inc(NYSE: CHWY)\n\nEtsy Inc\nLet us start the list with Etsy. The company operates a marketplace where people globally connect, both online and offline to sell and buy goods. It also offers a range of seller services and tools that help entrepreneurs manage their businesses. As of now, the company’s seller services include Direct Checkout, Promoted Listings, Shipping Labels, and Pattern by Etsy. ETSY stock has risen by over 80% over the past year.\n\nOn Monday, Etsy signed a definitive agreement to acquire Elo7, a privately held marketplace for unique, handmade items, ranked as a top 10 e-commerce site in Brazil. The Elo7 marketplace connects approximately 1.9 million active buyers with approximately 56,000 active sellers and currently has approximately 8 million items for sale. Hence, this deal would establish Etsy’s presence in Latin America, an underpenetrated e-commerce region.\nEtsy is not resting on its laurels. It also signed a definitive agreement to acquire Depop, a purpose-driven marketplace for unique fashion for $1.625 billion earlier in June. Depop is a community-powered marketplace to buy and sell unique fashion, with a mission to build the world’s most diverse and progressive home of fashion. It appears that 90% of Depop’s active users are under the age of 26. So, this could serve as a resale home for Gen Z consumers to the Etsy family. Given all these exciting developments, would you consider investing in ETSY stock?\neBay Inc\nNext, we have one of the industry leaders of e-commerce, eBay. Essentially, the company operates marketplace platforms that connect buyers and sellers globally. This includes its online marketplace at ebay.com and the eBay suite of mobile apps. So, you could buy, sell, and pay for items through various online and offline channels. eBay stock has been one of the better-performing stocks within the e-commerce space this year. It has climbed by over 35% year-to-date.\n\nJust last week, the company announced the completion of the transfer of its Classifieds business to Adevinta in exchange for $2.5 billion cash and a 44% equity stake in Adevinta. This combination will hopefully create a leading global online classifieds business. In the long run, both companies will be primed to benefit from its combined portfolio that may offer additional value for its customers and shareholders.\neBay also had an impressive first quarter to start the year with the highest revenue growth since 2005. Its revenue was $3.0 billion, up 42% on an as-reported basis. There was also increased activity on its platform. Annual active buyers grew by 7%, now at a total of 187 million. Meanwhile, its annual active sellers grew by 8%, for a total of 20 million. We can see that the company is firing on all cylinders as we recover from the global pandemic. With that in mind, would you add EBAY stock to your watchlist?\nAlibaba Group Holding Ltd\nComing up next, we have one of the largest e-commerce companies in the world, Alibaba. The company’s technology infrastructure and marketing reach help merchants and brands to leverage the power of technology to engage its users, and customers to operate. As of today, its three main sites, Taobao, Tmall, and Alibaba.com boast hundreds of millions of users and host millions of merchants and businesses.\n\nFundamentally, the company is as strong as ever. For its fourth-quarter fiscal 2021 earnings report, its revenue climbed to $28.6 billion, representing a 64% increase. Alibaba also reported 811 million annual active consumers in China which represents an 11% growth year-over-year. This is important because retaining and attracting active consumers would support the company’s business model.\nThat said, it has not been a fantastic year for Alibaba this year. The company’s struggle this year was affected by the Chinese government. Alibaba was hit with a record fine of $2.75 billion earlier in April. However, the worst could be over for the company as the Chinese government is slowly shifting its focus to the company’s competitors. So, if you have missed the boat on BABA stock prior to this, could this be the classic buy-on-dip opportunity?\nChewy Inc\nLast on this list, we have an e-commerce company that specializes in pet products, Chewy. In essence, it provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services. Pet lovers out there could access all these products through its chewy.com retail website, and its mobile applications. The company stock may have been trading sideways since the start of the year. But, it has still climbed by over 70% over the past year.\n\nIn June, the company posted its first-quarter financial report that beat analysts’ expectations. Its net sales were $2.14 billion, growing 31.7% year-over-year. Meanwhile, its adjusted EBITDA came in at $77.4 million and its net income was $38.7 million. More importantly, Chewy added 600,000 active customers during the quarter which brings the number of active customers to 19.2 million. All in all, the company is growing in the right direction.\nFurthermore, Chewy also continues to innovate on their popular telehealth service, Connect with a Vet. May’s expansion includes the highly anticipated video consultation feature which allows pre-scheduling virtual vet consultation and extended hours of operation including weekends. With this, customers gain more accessibility to the company’s services and a better experience overall. With that in mind, would CHWY stock make your watchlist?","news_type":1},"isVote":1,"tweetType":1,"viewCount":4,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}