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Han Tee

Han Tee

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2023-03-14

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Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949526670","repostId":"2318942637","repostType":4,"repost":{"id":"2318942637","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":1678763358,"share":"https://ttm.financial/m/news/2318942637?lang=&edition=fundamental","pubTime":"2023-03-14 11:09","market":"us","language":"en","title":"How Does a Bank Collapse Quickly? a Timeline of the SVB Fall","url":"https://stock-news.laohu8.com/highlight/detail?id=2318942637","media":"Tiger Newspress","summary":"Recently, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered custome","content":"<html><head></head><body><p>Recently, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered customers and investors in limbo.</p><p>Silicon Valley Bank, facing a sudden bank run and capital crisis, collapsed Friday morning and was taken over by federal regulators.</p><p>It was the largest failure of a US bank since Washington Mutual in 2008.</p><p><img src=\"https://static.tigerbbs.com/378ad97105d4f81aba9366beb9c7f945\" tg-width=\"750\" tg-height=\"4212\" referrerpolicy=\"no-referrer\"/></p><p>Here’s what we know about the bank’s downfall, and what might come next.</p><h2>What is SVB?</h2><p>Founded in 1983, SVB specialized in banking for tech startups. It provided financing for almost half of US venture-backed technology and health care companies.</p><p>While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the FDIC.</p><h2>Why did it fail?</h2><p>In short, SVB encountered a classic run on the bank.</p><p>The longer version is a bit more complicated.</p><p>Several forces collided to take down the banker.</p><p>First, there was the Federal Reserve, which began raising interest rates a year ago to tame inflation. The Fed moved aggressively, and higher borrowing costs sapped the momentum of tech stocks that had benefited SVB.</p><p>Higher interest rates also eroded the value of long-term bonds that SVB and other banks gobbled up during the era of ultra-low, near-zero interest rates. SVB’s $21 billion bond portfolio was yielding an average of 1.79% — the current 10-year Treasury yield is about 3.9%.</p><p>At the same time, venture capital began drying up, forcing startups to draw down funds held by SVB. So the bank was sitting on a mountain of unrealized losses in bonds just as the pace of customer withdrawals was escalating.</p><h2>The panic takes root…</h2><p>On Wednesday, SVB announced it had sold a bunch of securities at a loss, and that it would also sell $2.25 billion in new shares to shore up its balance sheet. That triggered a panic among key venture capital firms, who reportedly advised companies to withdraw their money from the bank.</p><p>The bank’s stock began plummeting Thursday morning and by the afternoon it was dragging other bank shares down with it as investors began to fear a repeat of the 2007-2008 financial crisis.</p><p>By Friday morning, trading in SVB shares was halted and it had abandoned efforts to quickly raise capital or find a buyer. California regulators intervened, shutting the bank down and placing it in receivership under the Federal Deposit Insurance Corporation.</p><h2>Contagion fears subside</h2><p>Despite initial panic on Wall Street, analysts said SVB’s collapse is unlikely to set off the kind of domino effect that gripped the banking industry during the financial crisis.</p><p>“The system is as well-capitalized and liquid as it has ever been,” Moody’s chief economist Mark Zandi said. “The banks that are now in trouble are much too small to be a meaningful threat to the broader system.”</p><p>No later than Monday morning, all insured depositors will have full access to their insured deposits, according to the FDIC. It will pay uninsured depositors an “advance dividend within the next week.”</p><h2>What’s next?</h2><p>So, while a broader contagion is unlikely, smaller banks that are disproportionately tied to cash-strapped industries like tech and crypto may be in for a rough ride, according to Ed Moya, senior market analyst at Oanda.</p><p>“Everyone on Wall Street knew that the Fed’s rate-hiking campaign would eventually break something, and right now that is taking down small banks,” Moya said on Friday.</p><p>The FDIC typically sells a failed bank’s assets to other banks, using the proceeds to repay depositors whose funds weren’t insured.</p><p>A buyer could still emerge for SVB, though it’s far from guaranteed.</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>How Does a Bank Collapse Quickly? a Timeline of the SVB Fall</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\">\nHow Does a Bank Collapse Quickly? a Timeline of the SVB Fall\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\">2023-03-14 11:09</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Recently, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered customers and investors in limbo.</p><p>Silicon Valley Bank, facing a sudden bank run and capital crisis, collapsed Friday morning and was taken over by federal regulators.</p><p>It was the largest failure of a US bank since Washington Mutual in 2008.</p><p><img src=\"https://static.tigerbbs.com/378ad97105d4f81aba9366beb9c7f945\" tg-width=\"750\" tg-height=\"4212\" referrerpolicy=\"no-referrer\"/></p><p>Here’s what we know about the bank’s downfall, and what might come next.</p><h2>What is SVB?</h2><p>Founded in 1983, SVB specialized in banking for tech startups. It provided financing for almost half of US venture-backed technology and health care companies.</p><p>While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the FDIC.</p><h2>Why did it fail?</h2><p>In short, SVB encountered a classic run on the bank.</p><p>The longer version is a bit more complicated.</p><p>Several forces collided to take down the banker.</p><p>First, there was the Federal Reserve, which began raising interest rates a year ago to tame inflation. The Fed moved aggressively, and higher borrowing costs sapped the momentum of tech stocks that had benefited SVB.</p><p>Higher interest rates also eroded the value of long-term bonds that SVB and other banks gobbled up during the era of ultra-low, near-zero interest rates. SVB’s $21 billion bond portfolio was yielding an average of 1.79% — the current 10-year Treasury yield is about 3.9%.</p><p>At the same time, venture capital began drying up, forcing startups to draw down funds held by SVB. So the bank was sitting on a mountain of unrealized losses in bonds just as the pace of customer withdrawals was escalating.</p><h2>The panic takes root…</h2><p>On Wednesday, SVB announced it had sold a bunch of securities at a loss, and that it would also sell $2.25 billion in new shares to shore up its balance sheet. That triggered a panic among key venture capital firms, who reportedly advised companies to withdraw their money from the bank.</p><p>The bank’s stock began plummeting Thursday morning and by the afternoon it was dragging other bank shares down with it as investors began to fear a repeat of the 2007-2008 financial crisis.</p><p>By Friday morning, trading in SVB shares was halted and it had abandoned efforts to quickly raise capital or find a buyer. California regulators intervened, shutting the bank down and placing it in receivership under the Federal Deposit Insurance Corporation.</p><h2>Contagion fears subside</h2><p>Despite initial panic on Wall Street, analysts said SVB’s collapse is unlikely to set off the kind of domino effect that gripped the banking industry during the financial crisis.</p><p>“The system is as well-capitalized and liquid as it has ever been,” Moody’s chief economist Mark Zandi said. “The banks that are now in trouble are much too small to be a meaningful threat to the broader system.”</p><p>No later than Monday morning, all insured depositors will have full access to their insured deposits, according to the FDIC. It will pay uninsured depositors an “advance dividend within the next week.”</p><h2>What’s next?</h2><p>So, while a broader contagion is unlikely, smaller banks that are disproportionately tied to cash-strapped industries like tech and crypto may be in for a rough ride, according to Ed Moya, senior market analyst at Oanda.</p><p>“Everyone on Wall Street knew that the Fed’s rate-hiking campaign would eventually break something, and right now that is taking down small banks,” Moya said on Friday.</p><p>The FDIC typically sells a failed bank’s assets to other banks, using the proceeds to repay depositors whose funds weren’t insured.</p><p>A buyer could still emerge for SVB, though it’s far from guaranteed.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","BK4585":"ETF&股票定投概念","LU1861217088.USD":"贝莱德金融科技A2","BK4588":"碎股","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","BK4211":"区域性银行"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2318942637","content_text":"Recently, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered customers and investors in limbo.Silicon Valley Bank, facing a sudden bank run and capital crisis, collapsed Friday morning and was taken over by federal regulators.It was the largest failure of a US bank since Washington Mutual in 2008.Here’s what we know about the bank’s downfall, and what might come next.What is SVB?Founded in 1983, SVB specialized in banking for tech startups. It provided financing for almost half of US venture-backed technology and health care companies.While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the FDIC.Why did it fail?In short, SVB encountered a classic run on the bank.The longer version is a bit more complicated.Several forces collided to take down the banker.First, there was the Federal Reserve, which began raising interest rates a year ago to tame inflation. The Fed moved aggressively, and higher borrowing costs sapped the momentum of tech stocks that had benefited SVB.Higher interest rates also eroded the value of long-term bonds that SVB and other banks gobbled up during the era of ultra-low, near-zero interest rates. SVB’s $21 billion bond portfolio was yielding an average of 1.79% — the current 10-year Treasury yield is about 3.9%.At the same time, venture capital began drying up, forcing startups to draw down funds held by SVB. So the bank was sitting on a mountain of unrealized losses in bonds just as the pace of customer withdrawals was escalating.The panic takes root…On Wednesday, SVB announced it had sold a bunch of securities at a loss, and that it would also sell $2.25 billion in new shares to shore up its balance sheet. That triggered a panic among key venture capital firms, who reportedly advised companies to withdraw their money from the bank.The bank’s stock began plummeting Thursday morning and by the afternoon it was dragging other bank shares down with it as investors began to fear a repeat of the 2007-2008 financial crisis.By Friday morning, trading in SVB shares was halted and it had abandoned efforts to quickly raise capital or find a buyer. California regulators intervened, shutting the bank down and placing it in receivership under the Federal Deposit Insurance Corporation.Contagion fears subsideDespite initial panic on Wall Street, analysts said SVB’s collapse is unlikely to set off the kind of domino effect that gripped the banking industry during the financial crisis.“The system is as well-capitalized and liquid as it has ever been,” Moody’s chief economist Mark Zandi said. “The banks that are now in trouble are much too small to be a meaningful threat to the broader system.”No later than Monday morning, all insured depositors will have full access to their insured deposits, according to the FDIC. It will pay uninsured depositors an “advance dividend within the next week.”What’s next?So, while a broader contagion is unlikely, smaller banks that are disproportionately tied to cash-strapped industries like tech and crypto may be in for a rough ride, according to Ed Moya, senior market analyst at Oanda.“Everyone on Wall Street knew that the Fed’s rate-hiking campaign would eventually break something, and right now that is taking down small banks,” Moya said on Friday.The FDIC typically sells a failed bank’s assets to other banks, using the proceeds to repay depositors whose funds weren’t insured.A buyer could still emerge for SVB, though it’s far from guaranteed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940362952,"gmtCreate":1677709323977,"gmtModify":1677709327239,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940362952","repostId":"2316069863","repostType":4,"repost":{"id":"2316069863","pubTimestamp":1677684085,"share":"https://ttm.financial/m/news/2316069863?lang=&edition=fundamental","pubTime":"2023-03-01 23:21","market":"us","language":"en","title":"What Is the Best Tech Stock to Buy Now? Our 7 Top Picks","url":"https://stock-news.laohu8.com/highlight/detail?id=2316069863","media":"InvestorPlace","summary":"These seven tech stocks offer excellent entry points.Microsoft: The company’s focus on contesting hi","content":"<html><head></head><body><ul><li>These seven tech stocks offer excellent entry points.</li><li><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>: The company’s focus on contesting high-growth segments has the Street excited.</li><li><a href=\"https://laohu8.com/S/INTC\">Intel</a>: Intel seeks to catch up with its competitors by 2025 through domestic sources.</li><li><a href=\"https://laohu8.com/S/AMZN\">Amazon</a>: Amazon dominates the cloud and e-commerce industry with a 34% and 38% market share.</li><li><a href=\"https://laohu8.com/S/OKTA\">Okta</a>: High top-line growth will bring back the growth premium for OKTA.</li><li><a href=\"https://laohu8.com/S/YEXT\">Yext</a>: Narrowing losses and a large addressable market means there is much more room for recovery.</li><li><a href=\"https://laohu8.com/S/RIOT\">Riot Platforms</a>: Bitcoin’s (BTC-USD) halving can make its 7000 BTC stash much more valuable.</li><li><a href=\"https://laohu8.com/S/NET\">Cloudflare</a>: Cloudflare’s financials are consistently growing near 50% year-on-year.</li></ul><p>With inflation, low earnings, and expectations of higher interest rates, tech stocks have cooled off. However, this is the prime time to look for the best tech stock to buy on the pullbacks. While losses have been considerable this year, it’s not permanent. In fact, I still believe most of these companies will start reporting much better year-on-year figures once the post-covid turbulence is behind us. Therefore, buying the best tech stocks now will give investors an excellent entry point for long-term gains. Here are the top seven picks to look into:</p><table border=\"1\"><tbody><tr><td><b>MSFT</b></td><td>Microsoft</td><td>$249.16</td></tr><tr><td><b>INTC</b></td><td>Intel</td><td>$24.84</td></tr><tr><td><b>AMZN</b></td><td>Amazon</td><td>$93.98</td></tr><tr><td><b>OKTA</b></td><td>Okta</td><td>$71.15</td></tr><tr><td><b>YEXT</b></td><td>Yext</td><td>$7.36</td></tr><tr><td><b>RIOT</b></td><td>Riot Platforms</td><td>$6.22</td></tr><tr><td><b>NET</b></td><td>Cloudflare</td><td>$59.64</td></tr></tbody></table><h2></h2><h2><a href=\"https://laohu8.com/S/MSFT\">Microsoft </a></h2><p><img src=\"https://static.tigerbbs.com/47f6b1c8715f6779c55164dde59413d6\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: Asif Islam / Shutterstock.com</p><p><b>Microsoft’s</b> rollout of ChatGPT integration with Bing and high growth in its cloud segment makes it among the hottest stocks this year. Of course, Bing could still be a “nothing burger” as not many people are interested in permanently switching to Bing except for niche purposes. But the Street is certainly excited.</p><p>The company reported its fiscal Q2 2023 earnings, where its overall revenue grew 2%, but Azure and other cloud services revenue grew 31%, with Office 365 Commercial sales growing 11%. Conversely, Windows OEM and devices sales each decreased by 39%, which substantially negatively impacted top-line growth. The point is that Microsoft is slowly shaping its business away from slow-growth segments and into up-and-coming ones like Azure and Office 365. This will hurt the company’s top-line growth in the short term, but I see healthy growth metrics in the long run.</p><p>Furthermore, the cloud isn’t the only thing in which Microsoft has an edge. The company’s aggressively investing in artificial intelligence, such as its $10 billion OpenAI investment. As AI becomes more important, these investments will pay off greatly.</p><h2><a href=\"https://laohu8.com/S/INTC\">Intel </a></h2><p><img src=\"https://static.tigerbbs.com/35428f0e9fb4a3ba4685923398cf5024\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: shutterstock.com/everything possible</p><p>Tough competition with <a href=\"https://laohu8.com/S/AMD\">Advanced Micro Devices</a> and sluggish year-over-year growth have caused <a href=\"https://laohu8.com/S/INTC\">Intel</a>’s stock to plummet to decade-low valuations. However, it should be noted that the company is transforming and adapting its business for long-term success.</p><p>Intel is particularly focusing on chips for AI, announcing a $20 billion investment into domestic chip production in the U.S., unlike other semiconductor companies that are sourcing their chips from foreign sources such as <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor</a>. The CHIPS act subsidy will come in handy for the company in this regard, as Intel already reported 30% YoY growth in its foundry segment. Its Mobileye ownership is also paying dividends, with sales up 59% YoY.</p><p>Another important highlight mentioned in a recent company press release,</p><blockquote>“Intel continues to progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. Intel 7 is now in high-volume manufacturing for both client and server. Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023.”</blockquote><p>Simply put, Intel is expanding its own chip production for a more addressable market. It is also moving away from foreign sources with its own chip branding instead of using nanometers to describe its semiconductors and seeks to catch up with TSMC and AMD by 2025. If things go smoothly, Intel can become a significant chip provider for various industries in the U.S.</p><h2><a href=\"https://laohu8.com/S/AMZN\">Amazon </a></h2><p><img src=\"https://static.tigerbbs.com/5d8c777beef9fcbe72151403c6646024\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: Tada Images / Shutterstock.com</p><p><b>Amazon</b> leads the burgeoning cloud industry with Amazon Web Services. Although other companies are certainly upping their competition here, AWS remains the dominant platform with 34% of the market share. AWS has its hands in almost every industry; even <b>Ethereum</b> (<b>ETH-USD</b>) has a substantial amount of nodes that use AWS to run, while 7,500 government agencies rely on the platform. This reliance is likely to continue, even if other alternatives become more cost-effective. Accordingly, AWS segment sales increased 29% year-over-year to $80.1 billion for all of 2022.</p><p>Nevertheless, Amazon is a highly diversified company with many other promising segments to bank on. Most importantly, it is the biggest U.S. e-commerce business. It had some hiccups after the post-covid boom ended, but e-commerce is among the most promising industries in the long run. If Amazon retains its 38% market share in the industry, it could lead to sales as high as $600 billion annually from the U.S. alone by 2027.</p><h2><a href=\"https://laohu8.com/S/OKTA\">Okta </a></h2><p><img src=\"https://static.tigerbbs.com/85eeaa891ca15d8a5082c7ce82b75e95\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: Sundry Photography / Shutterstock.com</p><p><b>Okta</b> has been one of the standout performers in the technology sector post-covid, with its stock price skyrocketing by more than 130% in 2020. However, widening losses and falling growth caused worries among investors, and OKTA stock is down 75%-plus from its peak in 2021.</p><p>Regardless, the company’s top line remains stable, and I believe Okta can make a comeback as its losses are narrowing. With more and more businesses moving their operations online, Okta’s solutions are becoming increasingly essential, which has helped the company to attract a growing number of high-profile customers. Its high 37% sales growth should accelerate over the long run and bring a higher growth premium.</p><p>Indeed, the losses are unconvincing, but Okta is well-positioned to continue its impressive growth trajectory. The company is expected to benefit from the ongoing shift towards cloud-based applications and the increasing need for robust cybersecurity solutions, which should drive demand for its IAM platform. Most of the company’s cons are also already priced in, and I see little downside left.</p><h2><a href=\"https://laohu8.com/S/YEXT\">Yext </a></h2><p><img src=\"https://static.tigerbbs.com/ef123c0f44cb8643c125a3ef73012291\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: rblfmr / Shutterstock.com</p><p><b>Yext</b> is a leading provider of digital knowledge management software that helps businesses manage their online presence across multiple platforms. The stock was on a roller coaster ride over the pandemic era but began to bottom out last year and is now steadily recovering. However, I still think that its 50% recovery trough to the current year-to-date peak is not enough of a recovery, and there’s more to go.</p><p>The COVID-19 pandemic initially harmed Yext’s business, as many of its customers had to shut down their physical locations. However, the company has adapted well to the changing market conditions, focusing on expanding its digital knowledge management platform to meet the needs of businesses that have shifted their operations online. Now, online businesses are a growth catalyst for Yext.</p><p>Stock analyst Gurufocus.com does believe it could be a value trap due to its high losses. However, its most recent 10-Q filing shows that the company only spent $60.6 million on general and administrative expenses last year, with $221.5 million of gross profit. Most of its losses stem from high marketing and development spending, which can be easily cut down if needed. Therefore, I believe the company’s management sees its losses (that are narrowing) as sustainable.</p><p>Overall, it’s a high-risk, high-reward bet that might not suit all investors as the best tech stock to buy.</p><h2><a href=\"https://laohu8.com/S/RIOT\">Riot Platforms </a></h2><p><img src=\"https://static.tigerbbs.com/783635b327e5ba7814bc70de48c780ad\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: Shutterstock</p><p><b>Riot Platforms</b> is a cryptocurrency mining company that has been on a wild ride over the past year. Due to a significant drop in <b>Bitcoin</b> (<b>BTC-USD</b>) prices earlier this year, the company’s stock price has lost more than 91.5% of its value from its peak. However, this high-risk stock can deliver a long-term comeback, driven by strong demand for its mining services and the increasing adoption of cryptocurrencies by mainstream investors.</p><p>Riot’s impressive financial performance has been driven by its aggressive expansion into the cryptocurrency mining market. The company has zero debt, and buying it at this current range will likely generate oversized returns when Bitcoin increases in value. The most important catalyst for RIOT is Bitcoin’s halving in 2024.</p><p>It’ll cut mining rewards by half and likely increase its value substantially. The company could make a sharp recovery with RIOT’s 65.4% gross margin and its stash of around 7000 BTC. Naturally, a lot of speculation is involved here, and I wouldn’t recommend buying it if you only wish to invest in well-established names.</p><h2><a href=\"https://laohu8.com/S/NET\">Cloudflare </a></h2><p><img src=\"https://static.tigerbbs.com/dc4e1c6480937d07de0a6078b1b53a4a\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: IgorGolovniov / Shutterstock.com</p><p><b>Cloudflare’s</b> success can be attributed to its innovative approach to cybersecurity. The company offers a range of solutions that leverage the power of the cloud to protect against cyber attacks. The cybersecurity industry is rapidly growing despite short-term headwinds, and Cloudflare has a market share above 95% in network security. This gives the company enormous leverage over many online websites and businesses.</p><p>Moreover, as web development becomes more streamlined, Cloudflare’s dominance is only increasing due to cost-effectiveness. The company is consistently growing its top line near a 50% clip, and losses are steadily narrowing.</p><p>Gurufocus.com considers the stock “Significantly Undervalued,” with its future 3-5 year total revenue growth rate ranked better than 96.97% of its peers. Thus, consistency puts NET in the “best tech stock to buy” criteria.</p></body></html>","source":"investorplace","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>What Is the Best Tech Stock to Buy Now? 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Our 7 Top Picks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-01 23:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/02/what-is-the-best-tech-stock-to-buy-now-our-7-top-picks/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These seven tech stocks offer excellent entry points.Microsoft: The company’s focus on contesting high-growth segments has the Street excited.Intel: Intel seeks to catch up with its competitors by ...</p>\n\n<a href=\"https://investorplace.com/2023/02/what-is-the-best-tech-stock-to-buy-now-our-7-top-picks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","BK4567":"ESG概念","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4566":"资本集团","BK4587":"ChatGPT概念","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4538":"云计算","BK4559":"巴菲特持仓","BK4116":"互联网服务与基础架构","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","MSFT":"微软","BK4526":"热门中概股","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4588":"碎股","BK4122":"互联网与直销零售","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","BK4551":"寇图资本持仓","RIOT":"Riot Platforms","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","INTC":"英特尔","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","OKTA":"Okta Inc.","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","BK4097":"系统软件","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","BK4512":"苹果概念","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","YEXT":"Yext Inc.","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H"},"source_url":"https://investorplace.com/2023/02/what-is-the-best-tech-stock-to-buy-now-our-7-top-picks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2316069863","content_text":"These seven tech stocks offer excellent entry points.Microsoft: The company’s focus on contesting high-growth segments has the Street excited.Intel: Intel seeks to catch up with its competitors by 2025 through domestic sources.Amazon: Amazon dominates the cloud and e-commerce industry with a 34% and 38% market share.Okta: High top-line growth will bring back the growth premium for OKTA.Yext: Narrowing losses and a large addressable market means there is much more room for recovery.Riot Platforms: Bitcoin’s (BTC-USD) halving can make its 7000 BTC stash much more valuable.Cloudflare: Cloudflare’s financials are consistently growing near 50% year-on-year.With inflation, low earnings, and expectations of higher interest rates, tech stocks have cooled off. However, this is the prime time to look for the best tech stock to buy on the pullbacks. While losses have been considerable this year, it’s not permanent. In fact, I still believe most of these companies will start reporting much better year-on-year figures once the post-covid turbulence is behind us. Therefore, buying the best tech stocks now will give investors an excellent entry point for long-term gains. Here are the top seven picks to look into:MSFTMicrosoft$249.16INTCIntel$24.84AMZNAmazon$93.98OKTAOkta$71.15YEXTYext$7.36RIOTRiot Platforms$6.22NETCloudflare$59.64Microsoft Source: Asif Islam / Shutterstock.comMicrosoft’s rollout of ChatGPT integration with Bing and high growth in its cloud segment makes it among the hottest stocks this year. Of course, Bing could still be a “nothing burger” as not many people are interested in permanently switching to Bing except for niche purposes. But the Street is certainly excited.The company reported its fiscal Q2 2023 earnings, where its overall revenue grew 2%, but Azure and other cloud services revenue grew 31%, with Office 365 Commercial sales growing 11%. Conversely, Windows OEM and devices sales each decreased by 39%, which substantially negatively impacted top-line growth. The point is that Microsoft is slowly shaping its business away from slow-growth segments and into up-and-coming ones like Azure and Office 365. This will hurt the company’s top-line growth in the short term, but I see healthy growth metrics in the long run.Furthermore, the cloud isn’t the only thing in which Microsoft has an edge. The company’s aggressively investing in artificial intelligence, such as its $10 billion OpenAI investment. As AI becomes more important, these investments will pay off greatly.Intel Source: shutterstock.com/everything possibleTough competition with Advanced Micro Devices and sluggish year-over-year growth have caused Intel’s stock to plummet to decade-low valuations. However, it should be noted that the company is transforming and adapting its business for long-term success.Intel is particularly focusing on chips for AI, announcing a $20 billion investment into domestic chip production in the U.S., unlike other semiconductor companies that are sourcing their chips from foreign sources such as Taiwan Semiconductor. The CHIPS act subsidy will come in handy for the company in this regard, as Intel already reported 30% YoY growth in its foundry segment. Its Mobileye ownership is also paying dividends, with sales up 59% YoY.Another important highlight mentioned in a recent company press release,“Intel continues to progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. Intel 7 is now in high-volume manufacturing for both client and server. Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023.”Simply put, Intel is expanding its own chip production for a more addressable market. It is also moving away from foreign sources with its own chip branding instead of using nanometers to describe its semiconductors and seeks to catch up with TSMC and AMD by 2025. If things go smoothly, Intel can become a significant chip provider for various industries in the U.S.Amazon Source: Tada Images / Shutterstock.comAmazon leads the burgeoning cloud industry with Amazon Web Services. Although other companies are certainly upping their competition here, AWS remains the dominant platform with 34% of the market share. AWS has its hands in almost every industry; even Ethereum (ETH-USD) has a substantial amount of nodes that use AWS to run, while 7,500 government agencies rely on the platform. This reliance is likely to continue, even if other alternatives become more cost-effective. Accordingly, AWS segment sales increased 29% year-over-year to $80.1 billion for all of 2022.Nevertheless, Amazon is a highly diversified company with many other promising segments to bank on. Most importantly, it is the biggest U.S. e-commerce business. It had some hiccups after the post-covid boom ended, but e-commerce is among the most promising industries in the long run. If Amazon retains its 38% market share in the industry, it could lead to sales as high as $600 billion annually from the U.S. alone by 2027.Okta Source: Sundry Photography / Shutterstock.comOkta has been one of the standout performers in the technology sector post-covid, with its stock price skyrocketing by more than 130% in 2020. However, widening losses and falling growth caused worries among investors, and OKTA stock is down 75%-plus from its peak in 2021.Regardless, the company’s top line remains stable, and I believe Okta can make a comeback as its losses are narrowing. With more and more businesses moving their operations online, Okta’s solutions are becoming increasingly essential, which has helped the company to attract a growing number of high-profile customers. Its high 37% sales growth should accelerate over the long run and bring a higher growth premium.Indeed, the losses are unconvincing, but Okta is well-positioned to continue its impressive growth trajectory. The company is expected to benefit from the ongoing shift towards cloud-based applications and the increasing need for robust cybersecurity solutions, which should drive demand for its IAM platform. Most of the company’s cons are also already priced in, and I see little downside left.Yext Source: rblfmr / Shutterstock.comYext is a leading provider of digital knowledge management software that helps businesses manage their online presence across multiple platforms. The stock was on a roller coaster ride over the pandemic era but began to bottom out last year and is now steadily recovering. However, I still think that its 50% recovery trough to the current year-to-date peak is not enough of a recovery, and there’s more to go.The COVID-19 pandemic initially harmed Yext’s business, as many of its customers had to shut down their physical locations. However, the company has adapted well to the changing market conditions, focusing on expanding its digital knowledge management platform to meet the needs of businesses that have shifted their operations online. Now, online businesses are a growth catalyst for Yext.Stock analyst Gurufocus.com does believe it could be a value trap due to its high losses. However, its most recent 10-Q filing shows that the company only spent $60.6 million on general and administrative expenses last year, with $221.5 million of gross profit. Most of its losses stem from high marketing and development spending, which can be easily cut down if needed. Therefore, I believe the company’s management sees its losses (that are narrowing) as sustainable.Overall, it’s a high-risk, high-reward bet that might not suit all investors as the best tech stock to buy.Riot Platforms Source: ShutterstockRiot Platforms is a cryptocurrency mining company that has been on a wild ride over the past year. Due to a significant drop in Bitcoin (BTC-USD) prices earlier this year, the company’s stock price has lost more than 91.5% of its value from its peak. However, this high-risk stock can deliver a long-term comeback, driven by strong demand for its mining services and the increasing adoption of cryptocurrencies by mainstream investors.Riot’s impressive financial performance has been driven by its aggressive expansion into the cryptocurrency mining market. The company has zero debt, and buying it at this current range will likely generate oversized returns when Bitcoin increases in value. The most important catalyst for RIOT is Bitcoin’s halving in 2024.It’ll cut mining rewards by half and likely increase its value substantially. The company could make a sharp recovery with RIOT’s 65.4% gross margin and its stash of around 7000 BTC. Naturally, a lot of speculation is involved here, and I wouldn’t recommend buying it if you only wish to invest in well-established names.Cloudflare Source: IgorGolovniov / Shutterstock.comCloudflare’s success can be attributed to its innovative approach to cybersecurity. The company offers a range of solutions that leverage the power of the cloud to protect against cyber attacks. The cybersecurity industry is rapidly growing despite short-term headwinds, and Cloudflare has a market share above 95% in network security. This gives the company enormous leverage over many online websites and businesses.Moreover, as web development becomes more streamlined, Cloudflare’s dominance is only increasing due to cost-effectiveness. The company is consistently growing its top line near a 50% clip, and losses are steadily narrowing.Gurufocus.com considers the stock “Significantly Undervalued,” with its future 3-5 year total revenue growth rate ranked better than 96.97% of its peers. Thus, consistency puts NET in the “best tech stock to buy” criteria.","news_type":1},"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957274743,"gmtCreate":1677359495883,"gmtModify":1677359499553,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957274743","repostId":"1167738406","repostType":4,"repost":{"id":"1167738406","pubTimestamp":1677283346,"share":"https://ttm.financial/m/news/1167738406?lang=&edition=fundamental","pubTime":"2023-02-25 08:02","market":"sg","language":"en","title":"SGX Weekly Review: SATS, ARA US Hospitality Trust, Nanofilm Technologies and Singapore’s Inflation","url":"https://stock-news.laohu8.com/highlight/detail?id=1167738406","media":"The Smart Investor","summary":"Welcome to the latest edition of top stock market highlights.SATS Ltd (SGX: S58)Investors have been ","content":"<html><head></head><body><p>Welcome to the latest edition of top stock market highlights.</p><h2><b>SATS Ltd (SGX: S58)</b></h2><p>Investors have been waiting with bated breath for news on SATS’ rights issue ever since the ground handler announced itsS$1.6 billion transformative acquisition.</p><p>Just this week, the airline food catering group finally announced the details of this rights issue.</p><p>A shareholder is entitled to subscribe to 323 rights shares for every 1,000 existing shares at an issue price of S$2.20 per rights share.</p><p>This issue price represents a 16% discount to the theoretical ex-rights price based on the closing price of S$2.75 for SATS before the announcement of the rights issue.</p><p>Temasek Holdings, which owns close to 40% of SATS, will take up its pro-rata entitlement to the rights issue while the remainder will be underwritten by five banks which include Singapore’s three local banks along with<b>Citigroup</b>(NYSE: C) and<b>Bank of America</b>(NYSE: BAC).</p><p>SATS’ shares will trade cum rights up till 28 February and will go “ex-rights” on 1 March.</p><p>Investors should note that the total cost of the acquisition will be funded via this rights issue as well as the issuance of a three-year Euro-denominated bond of around S$700 million plus the group’s internal cash balance.</p><h2><b>ARA US Hospitality Trust (SGX: XZL)</b></h2><p>ARA US Hospitality Trust, or ARAHT, is a hospitality trust that owns 36 select-service hotels with 4,707 rooms across 19 states in the US.</p><p>The hotel brands include Hyatt Place and Hyatt House under the<b>Hyatt Hotels Corporation</b>(NYSE: H), and AC Hotels, Courtyard, and Residence Inn, brands that are parked under<b>Marriott International</b>(NASDAQ: MAR).</p><p>ARAHT reported a sharp recovery for its 2022 results along with an increase in its portfolio’s valuation.</p><p>Revenue jumped 29.3% year on year to US$169 million as pent-up travel demand led to a surge in bookings for the trust’s hotels.</p><p>Net property income surged by 66.4% year on year to US$41.4 million and distributable income shot up more than eightfold year on year to US$17.5 million.</p><p>ARAHT’s distribution per stapled security (DPSS) soared 760% year on year from US$0.00355 to US$0.03054.</p><p>The trust also enjoyed stronger operating metrics, with the occupancy rate across its portfolio rising by 8.2 percentage points year on year to 65.3%.</p><p>Average Daily Rate climbed by 17.2% year on year to US$131 while revenue per available room climbed by 33.9% year on year to US$85.</p><p>To add icing to the cake, ARAHT’s portfolio also saw a 9.4% year on year valuation uplift to US$747.8 million.</p><p>The increase in asset value and a slight decline in total debt allowed the trust’s aggregate leverage to dip below 40% from 44.3% a year ago.</p><p>However, the cost of debt rose from 3.4% in 2021 to 3.8% in 2022, but ARAHT had 82% of its borrowings on fixed rates to mitigate the impact of higher finance costs.</p><h2><b>Nanofilm Technologies International Ltd (SGX: MZH)</b></h2><p>Nanofilm reported a tough 2022 as geopolitical tensions impacted supply chains and customers delayed their capital spending.</p><p>The group reported a 3.8% year on year dip in revenue to S$237.4 million.</p><p>Net profit, however, fell by 29.6% year on year to S$43.8 million due to higher selling, distribution, and administrative expenses.</p><p>Nanofilm’s core division, Advanced Materials, saw revenue dip by 3.6% year on year to S$187.2 million.</p><p>The decline was somewhat offset by a more than year on year doubling of revenue for its Nanofabrication business unit to S$19.1 million.</p><p>Its Industrial Equipment business unit, however, saw revenue plunge nearly 31% year on year to S$30.9 million as customers withheld orders because of uncertain business conditions.</p><p>Despite the poorer results, Nanofilm managed to generate a positive free cash flow of S$10.3 million for 2022, a reversal from the negative free cash flow of S$34.5 million in the previous year.</p><p>The group raised its finaldividendby 10% year on year to S$0.011 despite the weaker results.</p><p>Nanofilm has warned that 2023 will continue to be “challenging” but that it will continue to execute its strategic plans to grow the business to achieve its target of S$500 million in revenue and S$100 million in net profit by 2025.</p><h2><b>Singapore’s inflation rate</b></h2><p>The first month of 2023 has continued the trend ofhigh inflationwitnessed last year.</p><p>Singapore’s core inflation weighed in at 5.5% year on year for January and was at its highest level since November 2008.</p><p>The increase was driven by the rise in the Goods and Services Tax from 7% to 8%.</p><p>The headline inflation rate stood at 6.6%, slightly above the 6.5% recorded in December 2022.</p><p>Food inflation was the main culprit this time, posting an 8.1% year on year jump as the price of prepared meals surged.</p><p>Housing rents also played a part in pushing inflation higher, with the increase registering a 5% year on year jump in accommodation inflation.</p><p>Fortunately, the government has announced its recentBudget 2023which will help to partially offset the negative effects of inflation.</p></body></html>","source":"lsy1602567310727","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\" 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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\">\nSGX Weekly Review: SATS, ARA US Hospitality Trust, Nanofilm Technologies and Singapore’s Inflation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-25 08:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/top-stock-market-highlights-sats-ara-us-hospitality-trust-nanofilm-technologies-and-singapores-inflation/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Welcome to the latest edition of top stock market highlights.SATS Ltd (SGX: S58)Investors have been waiting with bated breath for news on SATS’ rights issue ever since the ground handler announced ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/top-stock-market-highlights-sats-ara-us-hospitality-trust-nanofilm-technologies-and-singapores-inflation/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"S58.SI":"新翔集团有限公司","MZH.SI":"Nanofilm","XZL.SI":"亚腾美国酒店信托"},"source_url":"https://thesmartinvestor.com.sg/top-stock-market-highlights-sats-ara-us-hospitality-trust-nanofilm-technologies-and-singapores-inflation/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167738406","content_text":"Welcome to the latest edition of top stock market highlights.SATS Ltd (SGX: S58)Investors have been waiting with bated breath for news on SATS’ rights issue ever since the ground handler announced itsS$1.6 billion transformative acquisition.Just this week, the airline food catering group finally announced the details of this rights issue.A shareholder is entitled to subscribe to 323 rights shares for every 1,000 existing shares at an issue price of S$2.20 per rights share.This issue price represents a 16% discount to the theoretical ex-rights price based on the closing price of S$2.75 for SATS before the announcement of the rights issue.Temasek Holdings, which owns close to 40% of SATS, will take up its pro-rata entitlement to the rights issue while the remainder will be underwritten by five banks which include Singapore’s three local banks along withCitigroup(NYSE: C) andBank of America(NYSE: BAC).SATS’ shares will trade cum rights up till 28 February and will go “ex-rights” on 1 March.Investors should note that the total cost of the acquisition will be funded via this rights issue as well as the issuance of a three-year Euro-denominated bond of around S$700 million plus the group’s internal cash balance.ARA US Hospitality Trust (SGX: XZL)ARA US Hospitality Trust, or ARAHT, is a hospitality trust that owns 36 select-service hotels with 4,707 rooms across 19 states in the US.The hotel brands include Hyatt Place and Hyatt House under theHyatt Hotels Corporation(NYSE: H), and AC Hotels, Courtyard, and Residence Inn, brands that are parked underMarriott International(NASDAQ: MAR).ARAHT reported a sharp recovery for its 2022 results along with an increase in its portfolio’s valuation.Revenue jumped 29.3% year on year to US$169 million as pent-up travel demand led to a surge in bookings for the trust’s hotels.Net property income surged by 66.4% year on year to US$41.4 million and distributable income shot up more than eightfold year on year to US$17.5 million.ARAHT’s distribution per stapled security (DPSS) soared 760% year on year from US$0.00355 to US$0.03054.The trust also enjoyed stronger operating metrics, with the occupancy rate across its portfolio rising by 8.2 percentage points year on year to 65.3%.Average Daily Rate climbed by 17.2% year on year to US$131 while revenue per available room climbed by 33.9% year on year to US$85.To add icing to the cake, ARAHT’s portfolio also saw a 9.4% year on year valuation uplift to US$747.8 million.The increase in asset value and a slight decline in total debt allowed the trust’s aggregate leverage to dip below 40% from 44.3% a year ago.However, the cost of debt rose from 3.4% in 2021 to 3.8% in 2022, but ARAHT had 82% of its borrowings on fixed rates to mitigate the impact of higher finance costs.Nanofilm Technologies International Ltd (SGX: MZH)Nanofilm reported a tough 2022 as geopolitical tensions impacted supply chains and customers delayed their capital spending.The group reported a 3.8% year on year dip in revenue to S$237.4 million.Net profit, however, fell by 29.6% year on year to S$43.8 million due to higher selling, distribution, and administrative expenses.Nanofilm’s core division, Advanced Materials, saw revenue dip by 3.6% year on year to S$187.2 million.The decline was somewhat offset by a more than year on year doubling of revenue for its Nanofabrication business unit to S$19.1 million.Its Industrial Equipment business unit, however, saw revenue plunge nearly 31% year on year to S$30.9 million as customers withheld orders because of uncertain business conditions.Despite the poorer results, Nanofilm managed to generate a positive free cash flow of S$10.3 million for 2022, a reversal from the negative free cash flow of S$34.5 million in the previous year.The group raised its finaldividendby 10% year on year to S$0.011 despite the weaker results.Nanofilm has warned that 2023 will continue to be “challenging” but that it will continue to execute its strategic plans to grow the business to achieve its target of S$500 million in revenue and S$100 million in net profit by 2025.Singapore’s inflation rateThe first month of 2023 has continued the trend ofhigh inflationwitnessed last year.Singapore’s core inflation weighed in at 5.5% year on year for January and was at its highest level since November 2008.The increase was driven by the rise in the Goods and Services Tax from 7% to 8%.The headline inflation rate stood at 6.6%, slightly above the 6.5% recorded in December 2022.Food inflation was the main culprit this time, posting an 8.1% year on year jump as the price of prepared meals surged.Housing rents also played a part in pushing inflation higher, with the increase registering a 5% year on year jump in accommodation inflation.Fortunately, the government has announced its recentBudget 2023which will help to partially offset the negative effects of inflation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957274423,"gmtCreate":1677359486962,"gmtModify":1677359490703,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957274423","repostId":"1177307200","repostType":4,"repost":{"id":"1177307200","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":1677330651,"share":"https://ttm.financial/m/news/1177307200?lang=&edition=fundamental","pubTime":"2023-02-25 21:10","market":"us","language":"en","title":"Berkshire Hathaway Fourth-Quarter Operating Earnings Fall 8%, Cash Hoard Swells to Nearly $130 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1177307200","media":"Tiger Newspress","summary":"Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weig","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/9027ddd6e6e1a7c4f859db847ded7046\" tg-width=\"929\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weighed on the conglomerate’s businesses.</p><p>Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.</p><p>For the year, the conglomerate’s operating earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.</p><p>Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That’s lower than the year-earlier period when share repurchases totaled approximately $6.9 billion.</p><p>Given this, Berkshire’s cash hoard grew to $128.651 billion in the fourth quarter of 2022. That’s up from nearly $109 billion in the third quarter.</p><p>Buffett said in his annual shareholder letter that Berkshire will continue to hold a “boatload” of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will use their own money to hold Berkshire shares.</p><p>“As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” Buffett wrote.</p><p>“And yes, our shareholders will continue to save and prosper by retaining earnings. At Berkshire, there will be no finish line.”</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 Fourth-Quarter Operating Earnings Fall 8%, Cash Hoard Swells to Nearly $130 Billion</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 Fourth-Quarter Operating Earnings Fall 8%, Cash Hoard Swells to Nearly $130 Billion\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\">2023-02-25 21:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><img src=\"https://static.tigerbbs.com/9027ddd6e6e1a7c4f859db847ded7046\" tg-width=\"929\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weighed on the conglomerate’s businesses.</p><p>Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.</p><p>For the year, the conglomerate’s operating earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.</p><p>Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That’s lower than the year-earlier period when share repurchases totaled approximately $6.9 billion.</p><p>Given this, Berkshire’s cash hoard grew to $128.651 billion in the fourth quarter of 2022. That’s up from nearly $109 billion in the third quarter.</p><p>Buffett said in his annual shareholder letter that Berkshire will continue to hold a “boatload” of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will use their own money to hold Berkshire shares.</p><p>“As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” Buffett wrote.</p><p>“And yes, our shareholders will continue to save and prosper by retaining earnings. At Berkshire, there will be no finish line.”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177307200","content_text":"Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weighed on the conglomerate’s businesses.Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.For the year, the conglomerate’s operating earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That’s lower than the year-earlier period when share repurchases totaled approximately $6.9 billion.Given this, Berkshire’s cash hoard grew to $128.651 billion in the fourth quarter of 2022. That’s up from nearly $109 billion in the third quarter.Buffett said in his annual shareholder letter that Berkshire will continue to hold a “boatload” of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will use their own money to hold Berkshire shares.“As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” Buffett wrote.“And yes, our shareholders will continue to save and prosper by retaining earnings. At Berkshire, there will be no finish line.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957274587,"gmtCreate":1677359474050,"gmtModify":1677359478427,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":18,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957274587","repostId":"1117520516","repostType":4,"repost":{"id":"1117520516","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":1677334099,"share":"https://ttm.financial/m/news/1117520516?lang=&edition=fundamental","pubTime":"2023-02-25 22:08","market":"us","language":"en","title":"Buffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills","url":"https://stock-news.laohu8.com/highlight/detail?id=1117520516","media":"Tiger Newspress","summary":"Warren Buffett is still betting on America.Stocks and bonds slumped in 2022 after central banks rais","content":"<html><head></head><body><p>Warren Buffett is still betting on America.</p><p>Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.</p><p>“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.</p><p>Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.</p><p>Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.</p><p>The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.</p><p>As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.</p><p>“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.</p><p>Berkshire also released its results for 2022 on Saturday.</p><p>The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.</p><p>Total revenue rose 9.4% to $302.1 billion.</p><p>Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.</p><p>Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.</p><p>“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.</p><h2>Read the full letter here:</h2><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.</p><p>A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.</p><p>Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.</p><p>The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.</p><p>Who wouldn’t enjoy working for shareholders like ours?</p><h2>What We Do</h2><p>Charlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.</p><p>In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.</p><p>Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”</p><p>One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.</p><p>Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.</p><p>* * * * * * * * * * * *</p><p>At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)</p><p>Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.</p><h2>The Secret Sauce</h2><p>In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.</p><p>The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.</p><p>American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.</p><p>These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.</p><p>Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.</p><p>The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.</p><h2>The Past Year in Brief</h2><p>Berkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:</p><p><img src=\"https://static.tigerbbs.com/69e74650656620f9fa3f1e55c15a90e5\" tg-width=\"797\" tg-height=\"207\" width=\"100%\" height=\"auto\"/></p><p>The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.</p><p>A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.</p><p>Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.</p><p>* * * * * * * * * * * *</p><p>A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.</p><p>The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.</p><p>Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?</p><p>When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).</p><p>Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.</p><p>And that is a promise we can make.</p><p>* * * * * * * * * * * *</p><p>Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.</p><p>That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.</p><h2>58 Years – and a Few Figures</h2><p>In 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.</p><p>And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.</p><p>Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.</p><p>Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&amp;P 500 Index, an elite collection of large and well-known American companies.</p><p>In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.</p><p>At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.</p><p>In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and</p><p>$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.</p><p>As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.</p><p>At Berkshire, there will be no finish line.</p><h2>Some Surprising Facts About Federal Taxes</h2><p>During the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.</p><p>Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.</p><p>The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.</p><p>And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.</p><p>* * * * * * * * * * * *</p><p>Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:</p><p>- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.</p><p>- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.</p><p>- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.</p><p>When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”</p><p>* * * * * * * * * * * *</p><p>At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.</p><p>I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.</p><h2>Nothing Beats Having a Great Partner</h2><p>Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.</p><p>Here are a few of his thoughts, many lifted from a very recent podcast:</p><p>- The world is full of foolish gamblers, and they will not do as well as the patient investor.</p><p>- If you don’t see the world the way it is, it’s like judging something through a distorted lens.</p><p>- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.</p><p>- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.</p><p>- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.</p><p>- You can learn a lot from dead people. Read of the deceased you admire and detest.</p><p>- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.</p><p>- A great company keeps working after you are not; a mediocre company won’t do that.</p><p>- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.</p><p>- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.</p><p>- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.</p><p>- You don’t, however, need to own a lot of things in order to get rich.</p><p>- You have to keep learning if you want to become a great investor. When the world changes, you must change.</p><p>- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.</p><p>- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”</p><p>And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.</p><p>* * * * * * * * * * * *</p><p>I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.</p><h2>A Family Gathering in Omaha</h2><p>Charlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.</p><p>From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?</p><p>I know you can’t wait to hear the specifics of last year’s hustle.</p><p>On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.</p><p>Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.</p><p>* * * * * * * * * * * *</p><p>Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.</p><p>February 25, 2023 Warren E. Buffett </p><p>Chairman of the Board</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>Buffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills</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\">\nBuffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills\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\">2023-02-25 22:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett is still betting on America.</p><p>Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.</p><p>“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.</p><p>Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.</p><p>Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.</p><p>The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.</p><p>As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.</p><p>“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.</p><p>Berkshire also released its results for 2022 on Saturday.</p><p>The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.</p><p>Total revenue rose 9.4% to $302.1 billion.</p><p>Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.</p><p>Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.</p><p>“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.</p><h2>Read the full letter here:</h2><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.</p><p>A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.</p><p>Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.</p><p>The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.</p><p>Who wouldn’t enjoy working for shareholders like ours?</p><h2>What We Do</h2><p>Charlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.</p><p>In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.</p><p>Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”</p><p>One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.</p><p>Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.</p><p>* * * * * * * * * * * *</p><p>At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)</p><p>Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.</p><h2>The Secret Sauce</h2><p>In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.</p><p>The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.</p><p>American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.</p><p>These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.</p><p>Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.</p><p>The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.</p><h2>The Past Year in Brief</h2><p>Berkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:</p><p><img src=\"https://static.tigerbbs.com/69e74650656620f9fa3f1e55c15a90e5\" tg-width=\"797\" tg-height=\"207\" width=\"100%\" height=\"auto\"/></p><p>The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.</p><p>A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.</p><p>Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.</p><p>* * * * * * * * * * * *</p><p>A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.</p><p>The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.</p><p>Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?</p><p>When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).</p><p>Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.</p><p>And that is a promise we can make.</p><p>* * * * * * * * * * * *</p><p>Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.</p><p>That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.</p><h2>58 Years – and a Few Figures</h2><p>In 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.</p><p>And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.</p><p>Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.</p><p>Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&amp;P 500 Index, an elite collection of large and well-known American companies.</p><p>In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.</p><p>At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.</p><p>In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and</p><p>$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.</p><p>As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.</p><p>At Berkshire, there will be no finish line.</p><h2>Some Surprising Facts About Federal Taxes</h2><p>During the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.</p><p>Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.</p><p>The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.</p><p>And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.</p><p>* * * * * * * * * * * *</p><p>Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:</p><p>- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.</p><p>- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.</p><p>- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.</p><p>When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”</p><p>* * * * * * * * * * * *</p><p>At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.</p><p>I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.</p><h2>Nothing Beats Having a Great Partner</h2><p>Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.</p><p>Here are a few of his thoughts, many lifted from a very recent podcast:</p><p>- The world is full of foolish gamblers, and they will not do as well as the patient investor.</p><p>- If you don’t see the world the way it is, it’s like judging something through a distorted lens.</p><p>- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.</p><p>- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.</p><p>- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.</p><p>- You can learn a lot from dead people. Read of the deceased you admire and detest.</p><p>- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.</p><p>- A great company keeps working after you are not; a mediocre company won’t do that.</p><p>- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.</p><p>- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.</p><p>- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.</p><p>- You don’t, however, need to own a lot of things in order to get rich.</p><p>- You have to keep learning if you want to become a great investor. When the world changes, you must change.</p><p>- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.</p><p>- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”</p><p>And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.</p><p>* * * * * * * * * * * *</p><p>I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.</p><h2>A Family Gathering in Omaha</h2><p>Charlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.</p><p>From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?</p><p>I know you can’t wait to hear the specifics of last year’s hustle.</p><p>On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.</p><p>Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.</p><p>* * * * * * * * * * * *</p><p>Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.</p><p>February 25, 2023 Warren E. Buffett </p><p>Chairman of the Board</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":"1117520516","content_text":"Warren Buffett is still betting on America.Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.Berkshire also released its results for 2022 on Saturday.The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.Total revenue rose 9.4% to $302.1 billion.Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.Read the full letter here:To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.Who wouldn’t enjoy working for shareholders like ours?What We DoCharlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.* * * * * * * * * * * *At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.The Secret SauceIn August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.The Past Year in BriefBerkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.* * * * * * * * * * * *A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.And that is a promise we can make.* * * * * * * * * * * *Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.58 Years – and a Few FiguresIn 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&P 500 Index, an elite collection of large and well-known American companies.In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.At Berkshire, there will be no finish line.Some Surprising Facts About Federal TaxesDuring the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.* * * * * * * * * * * *Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”* * * * * * * * * * * *At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.Nothing Beats Having a Great PartnerCharlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.Here are a few of his thoughts, many lifted from a very recent podcast:- The world is full of foolish gamblers, and they will not do as well as the patient investor.- If you don’t see the world the way it is, it’s like judging something through a distorted lens.- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.- You can learn a lot from dead people. Read of the deceased you admire and detest.- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.- A great company keeps working after you are not; a mediocre company won’t do that.- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.- You don’t, however, need to own a lot of things in order to get rich.- You have to keep learning if you want to become a great investor. When the world changes, you must change.- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.* * * * * * * * * * * *I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.A Family Gathering in OmahaCharlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?I know you can’t wait to hear the specifics of last year’s hustle.On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.* * * * * * * * * * * *Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.February 25, 2023 Warren E. Buffett Chairman of the Board","news_type":1},"isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957637161,"gmtCreate":1677207502453,"gmtModify":1677207505546,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9957637161","repostId":"1105872678","repostType":4,"repost":{"id":"1105872678","pubTimestamp":1677206707,"share":"https://ttm.financial/m/news/1105872678?lang=&edition=fundamental","pubTime":"2023-02-24 10:45","market":"hk","language":"en","title":"Alibaba, NetEase Fall With Hong Kong Stocks in Correction Amid Mixed Earnings Signals While Techtronic Rebounds","url":"https://stock-news.laohu8.com/highlight/detail?id=1105872678","media":"South China Morning Post","summary":"Alibaba Group, the owner of this newspaper, beat market estimates in third-quarter report, while job","content":"<html><head></head><body><ul><li>Alibaba Group, the owner of this newspaper, beat market estimates in third-quarter report, while job cuts signalled challenges ahead</li><li>Techtronic rebounds after rejecting a short-seller’s attack, without addressing allegations the tools maker inflated its profits</li></ul><p>Hong Kong stocks fell deeper into a technical correction following mixed signals in corporate earnings from Chinese big tech companies. Techtronic recovered from a 19 per cent plunge triggered by a short-seller attack.</p><p>The Hang Seng Index slipped 1.5 per cent to 20,050.99 at 10.31am local time, the lowest level since January 3, and bringing the decline for the week to 2.9 per cent. The Tech Index retreated 2.3 per cent, while the Shanghai Composite Index weakened 0.6 per cent.</p><p>Alibaba Group dropped 3.4 per cent to HK$91.95 after revenue grew 2.1 per cent to 247.76 billion yuan (US$35.9 billion) in the December quarter, while job cuts in 2022 helped trim costs. NetEase slumped 6.5 per cent to HK$130, after its net profit trailed market consensus. Baidu tumbled 3.2 per cent to HK$135.30 and Tencent dropped 1.4 per cent to HK$351.</p><p>“The old regime of unlimited expansion and unlimited upside is over” for Chinese internet stocks, Wang Qi, CEO of MegaTrust Investment said in a research note on Thursday. The sector will continue to face earnings uncertainty and massive valuation volatility, he added.</p><p>Techtronic advanced 3.6 per cent to HK$77.65 as the Chinese power-tools maker rejected a report by little-known short-seller Jehoshaphat Research that the firm inflated its profits, without addressing the allegations. The stock sank 19 per cent on Thursday, wiping out HK$32.2 billion (US$4.1 billion) of its market value.</p><p>The benchmark index was headed for a fourth week of losses, the longest stretch since September. The index’s setback this week brought the cumulative losses to more than 10 per cent since January 27, a technical correction, and erasedUS$366 billion of value from the city’s broader market.</p><p>Major Asian markets advanced on Friday. Nikkei 225 in Japan jumped 1.3 per cent, while the Kospi Index in South Korea and the S&amp;P/ASX 200 in Australia both advanced by 0.2 per cent.</p></body></html>","source":"lsy1600132093512","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, NetEase Fall With Hong Kong Stocks in Correction Amid Mixed Earnings Signals While Techtronic Rebounds</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, NetEase Fall With Hong Kong Stocks in Correction Amid Mixed Earnings Signals While Techtronic Rebounds\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-24 10:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.scmp.com/business/china-business/article/3211336/alibaba-netease-fall-hong-kong-stocks-correction-amid-mixed-earnings-signals-while-techtronic?module=live&pgtype=homepage><strong>South China Morning Post</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba Group, the owner of this newspaper, beat market estimates in third-quarter report, while job cuts signalled challenges aheadTechtronic rebounds after rejecting a short-seller’s attack, without...</p>\n\n<a href=\"https://www.scmp.com/business/china-business/article/3211336/alibaba-netease-fall-hong-kong-stocks-correction-amid-mixed-earnings-signals-while-techtronic?module=live&pgtype=homepage\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09999":"网易-S","09988":"阿里巴巴-W"},"source_url":"https://www.scmp.com/business/china-business/article/3211336/alibaba-netease-fall-hong-kong-stocks-correction-amid-mixed-earnings-signals-while-techtronic?module=live&pgtype=homepage","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105872678","content_text":"Alibaba Group, the owner of this newspaper, beat market estimates in third-quarter report, while job cuts signalled challenges aheadTechtronic rebounds after rejecting a short-seller’s attack, without addressing allegations the tools maker inflated its profitsHong Kong stocks fell deeper into a technical correction following mixed signals in corporate earnings from Chinese big tech companies. Techtronic recovered from a 19 per cent plunge triggered by a short-seller attack.The Hang Seng Index slipped 1.5 per cent to 20,050.99 at 10.31am local time, the lowest level since January 3, and bringing the decline for the week to 2.9 per cent. The Tech Index retreated 2.3 per cent, while the Shanghai Composite Index weakened 0.6 per cent.Alibaba Group dropped 3.4 per cent to HK$91.95 after revenue grew 2.1 per cent to 247.76 billion yuan (US$35.9 billion) in the December quarter, while job cuts in 2022 helped trim costs. NetEase slumped 6.5 per cent to HK$130, after its net profit trailed market consensus. Baidu tumbled 3.2 per cent to HK$135.30 and Tencent dropped 1.4 per cent to HK$351.“The old regime of unlimited expansion and unlimited upside is over” for Chinese internet stocks, Wang Qi, CEO of MegaTrust Investment said in a research note on Thursday. The sector will continue to face earnings uncertainty and massive valuation volatility, he added.Techtronic advanced 3.6 per cent to HK$77.65 as the Chinese power-tools maker rejected a report by little-known short-seller Jehoshaphat Research that the firm inflated its profits, without addressing the allegations. The stock sank 19 per cent on Thursday, wiping out HK$32.2 billion (US$4.1 billion) of its market value.The benchmark index was headed for a fourth week of losses, the longest stretch since September. The index’s setback this week brought the cumulative losses to more than 10 per cent since January 27, a technical correction, and erasedUS$366 billion of value from the city’s broader market.Major Asian markets advanced on Friday. Nikkei 225 in Japan jumped 1.3 per cent, while the Kospi Index in South Korea and the S&P/ASX 200 in Australia both advanced by 0.2 per cent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957637358,"gmtCreate":1677207495674,"gmtModify":1677207499897,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Agree","listText":"Agree","text":"Agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957637358","repostId":"2313713210","repostType":4,"repost":{"id":"2313713210","pubTimestamp":1677218161,"share":"https://ttm.financial/m/news/2313713210?lang=&edition=fundamental","pubTime":"2023-02-24 13:56","market":"other","language":"en","title":"I Asked ChatGPT for 25 Cryptos to Sell. Here’s What It Recommended","url":"https://stock-news.laohu8.com/highlight/detail?id=2313713210","media":"InvestorPlace","summary":"InvestorPlace asked ChatGPT to provide its top 25 cryptos to sell.The chatbot’s picks suggest a robu","content":"<html><head></head><body><ul><li><i>InvestorPlace </i>asked <b>ChatGPT </b>to provide its top 25 cryptos to sell.</li><li>The chatbot’s picks suggest a robust methodology for evaluating projects, even in a negative light.</li><li>Still, though, references to long-dead projects show that AI has a ways to go before being taken as a wholly serious investing research tool.</li></ul><p>Artificial intelligence (AI) continues getting savvier at connecting users with more specific and complex data. With chatbot tools like ChatGPT by <b>OpenAI</b>, users can ask any question, and they’ll typically receive a detailed answer that saves a lot of time spent digging through search engines. Of course, investors have been keen on this technology and what it can do for their portfolios. To test it out, I decided to prod ChatGPT to give me 25 cryptos to sell.</p><p>Previously, I had asked the AI chatbot for its top 10 cryptos to buy for a high-growth outlook. I was not disappointed by the software’s answer. It provided not only a list of cryptocurrencies that many would probably agree with, but it did so with great detail.</p><p>What I found most surprising about the ChatGPT bot is that, unlike many crypto-evaluating tools, it doesn’t lean solely on the qualitative. Most of the time, investment analysis tools stick to market capitalization, chart comparisons and the like. AI, however, gives investors a new dimension with qualitative assessments as well.</p><h2>ChatGPT Evaluates Cryptos With Six Basic Measures</h2><p>In laying out the cryptos to sell list I tasked ChatGPT with creating, the AI uses six basic measures. These include adoption, market cap, developmental activity, technical issues, roadmap and competition.</p><p>Of the six, only market cap and adoption really qualify as quantitative methods of analysis. Otherwise, the AI uses measurements one might use when perusing a project’s homepage or whitepaper. The bot scopes out whether or not the project is active regarding new development. It takes into account the plans for the future of the crypto, and whether or not the project has to compete against other similar projects.</p><p>Most impressive is its evaluation of technical issues. ChatGPT said it was looking for “any technical issues or security vulnerabilities that the cryptocurrency has faced in the past or present.” This could prove to be wildly useful to investors who are researching cryptos with the tool. We are at a point in the crypto world where security flaws are perhaps the biggest concern with the viability and long-term success of a project. The fact that the bot can comb through a project for any sort of threats, then, is very helpful.</p><h2>Cryptos to Sell, According to ChatGPT</h2><p>Without further ado, these are the 25 cryptos to sell, according to data from ChatGPT. It’s worth noting that the bot explicitly states that it cannot make specific financial advice for users. It advises users with each response to conduct further research into projects before making their own decisions. That being said, here they are:</p><ul><li><b>XRP</b> (<b>XRP-USD</b>)</li><li><b>Stellar</b> (<b>XLM-USD</b>)</li><li><b>EOS</b> (<b>EOS-USD</b>)</li><li><b>TRON</b> (<b>TRX-USD</b>)</li><li><b>Bitcoin SV</b> (<b>BSV-USD</b>)</li><li><b>Bitcoin Gold</b> (<b>BTG-USD</b>)</li><li><b>Bitcoin Diamond</b> (<b>BCD-USD</b>)</li><li><b>Dogecoin</b> (<b>DOGE-USD</b>)</li><li><b>NEM</b> (<b>XEM-USD</b>)</li><li><b>ICON</b> (<b>ICX-USD</b>)</li><li><b>MaidSafeCoin</b> (<b>MAID-USD</b>)</li><li><b>BitShares</b> (<b>BTS-USD</b>)</li><li><b>Stratis</b> (<b>STRAT-USD</b>)</li><li><b>Siacoin</b> (<b>SC-USD</b>)</li><li><b>Augur</b> (<b>REP-USD</b>)</li><li><b>Golem</b> (<b>GLM-USD</b>)</li><li><b>Bytecoin</b> (<b>BCN-USD</b>)</li><li><b>Verge</b> (<b>XVG-USD</b>)</li><li><b>IOTA</b> (<b>MIOTA-USD</b>)</li><li><b>Komodo</b> (<b>KMD-USD</b>)</li><li><b>Pundi X</b></li><li><b>Dent</b> (<b>DENT-USD</b>)</li><li><b>Waves</b> (<b>WAVES-USD</b>)</li><li><b>Zilliqa</b> (<b>ZIL-USD</b>)</li><li><b>Steem</b> (<b>STEEM-USD</b>)</li></ul><h2>Flaws Apparent in ChatGPT Cryptos to Sell List</h2><p>It’s quite impressive that the AI can pull together such a list. With each pick, the bot provided me with a brief explanation of each project, as well as its reasoning for avoiding or selling each asset. However, some very obvious flaws should make one think twice before heavily considering any sort of transaction.</p><p>First of all, ChatGPT AI’s dataset isn’t the most up-to-date. Judging by the responses, it appears that the AI doesn’t have much data after mid-2021 (this tracks with OpenAI’s FAQ on its dataset). While it talks about the surge in DOGE popularity — which occurred most prominently in 2021 — it also mentions certain projects like Zilliqa never passing their 2018 highs. Obviously, we know that ZIL did, in fact, pass its 2018 high back in October of 2021, and again since then.</p><p>While it did a good job of picking projects which are still traded, at least some nowadays, it did pick one project — Pundi X — which phased out the crypto it listed and launched another one.</p><p>Lastly, while it did pick some “hot take” picks like XRP, XLM, and TRX, only seven of the 25 are top 100 cryptos by market capitalization. Many of the projects are very small in size, which, while the AI is correct in assuming they will be more volatile than top coins, doesn’t make for any wildly insightful suggestions. Most people would already be skeptical of many of these cryptos.</p><p>So, while ChatGPT posts some intriguing insight into the crypto world, and offers robust analysis, it might not be the best tool for financial research <i>just yet</i>. Still, it offers a pretty exciting outlook for what it could do in the future.</p></body></html>","source":"investorplace","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>I Asked ChatGPT for 25 Cryptos to Sell. Here’s What It Recommended</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\">\nI Asked ChatGPT for 25 Cryptos to Sell. Here’s What It Recommended\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-24 13:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/02/i-asked-chatgpt-for-25-cryptos-to-sell-heres-what-it-recommended/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>InvestorPlace asked ChatGPT to provide its top 25 cryptos to sell.The chatbot’s picks suggest a robust methodology for evaluating projects, even in a negative light.Still, though, references to long-...</p>\n\n<a href=\"https://investorplace.com/2023/02/i-asked-chatgpt-for-25-cryptos-to-sell-heres-what-it-recommended/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://investorplace.com/2023/02/i-asked-chatgpt-for-25-cryptos-to-sell-heres-what-it-recommended/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2313713210","content_text":"InvestorPlace asked ChatGPT to provide its top 25 cryptos to sell.The chatbot’s picks suggest a robust methodology for evaluating projects, even in a negative light.Still, though, references to long-dead projects show that AI has a ways to go before being taken as a wholly serious investing research tool.Artificial intelligence (AI) continues getting savvier at connecting users with more specific and complex data. With chatbot tools like ChatGPT by OpenAI, users can ask any question, and they’ll typically receive a detailed answer that saves a lot of time spent digging through search engines. Of course, investors have been keen on this technology and what it can do for their portfolios. To test it out, I decided to prod ChatGPT to give me 25 cryptos to sell.Previously, I had asked the AI chatbot for its top 10 cryptos to buy for a high-growth outlook. I was not disappointed by the software’s answer. It provided not only a list of cryptocurrencies that many would probably agree with, but it did so with great detail.What I found most surprising about the ChatGPT bot is that, unlike many crypto-evaluating tools, it doesn’t lean solely on the qualitative. Most of the time, investment analysis tools stick to market capitalization, chart comparisons and the like. AI, however, gives investors a new dimension with qualitative assessments as well.ChatGPT Evaluates Cryptos With Six Basic MeasuresIn laying out the cryptos to sell list I tasked ChatGPT with creating, the AI uses six basic measures. These include adoption, market cap, developmental activity, technical issues, roadmap and competition.Of the six, only market cap and adoption really qualify as quantitative methods of analysis. Otherwise, the AI uses measurements one might use when perusing a project’s homepage or whitepaper. The bot scopes out whether or not the project is active regarding new development. It takes into account the plans for the future of the crypto, and whether or not the project has to compete against other similar projects.Most impressive is its evaluation of technical issues. ChatGPT said it was looking for “any technical issues or security vulnerabilities that the cryptocurrency has faced in the past or present.” This could prove to be wildly useful to investors who are researching cryptos with the tool. We are at a point in the crypto world where security flaws are perhaps the biggest concern with the viability and long-term success of a project. The fact that the bot can comb through a project for any sort of threats, then, is very helpful.Cryptos to Sell, According to ChatGPTWithout further ado, these are the 25 cryptos to sell, according to data from ChatGPT. It’s worth noting that the bot explicitly states that it cannot make specific financial advice for users. It advises users with each response to conduct further research into projects before making their own decisions. That being said, here they are:XRP (XRP-USD)Stellar (XLM-USD)EOS (EOS-USD)TRON (TRX-USD)Bitcoin SV (BSV-USD)Bitcoin Gold (BTG-USD)Bitcoin Diamond (BCD-USD)Dogecoin (DOGE-USD)NEM (XEM-USD)ICON (ICX-USD)MaidSafeCoin (MAID-USD)BitShares (BTS-USD)Stratis (STRAT-USD)Siacoin (SC-USD)Augur (REP-USD)Golem (GLM-USD)Bytecoin (BCN-USD)Verge (XVG-USD)IOTA (MIOTA-USD)Komodo (KMD-USD)Pundi XDent (DENT-USD)Waves (WAVES-USD)Zilliqa (ZIL-USD)Steem (STEEM-USD)Flaws Apparent in ChatGPT Cryptos to Sell ListIt’s quite impressive that the AI can pull together such a list. With each pick, the bot provided me with a brief explanation of each project, as well as its reasoning for avoiding or selling each asset. However, some very obvious flaws should make one think twice before heavily considering any sort of transaction.First of all, ChatGPT AI’s dataset isn’t the most up-to-date. Judging by the responses, it appears that the AI doesn’t have much data after mid-2021 (this tracks with OpenAI’s FAQ on its dataset). While it talks about the surge in DOGE popularity — which occurred most prominently in 2021 — it also mentions certain projects like Zilliqa never passing their 2018 highs. Obviously, we know that ZIL did, in fact, pass its 2018 high back in October of 2021, and again since then.While it did a good job of picking projects which are still traded, at least some nowadays, it did pick one project — Pundi X — which phased out the crypto it listed and launched another one.Lastly, while it did pick some “hot take” picks like XRP, XLM, and TRX, only seven of the 25 are top 100 cryptos by market capitalization. Many of the projects are very small in size, which, while the AI is correct in assuming they will be more volatile than top coins, doesn’t make for any wildly insightful suggestions. Most people would already be skeptical of many of these cryptos.So, while ChatGPT posts some intriguing insight into the crypto world, and offers robust analysis, it might not be the best tool for financial research just yet. Still, it offers a pretty exciting outlook for what it could do in the future.","news_type":1},"isVote":1,"tweetType":1,"viewCount":387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957637901,"gmtCreate":1677207485004,"gmtModify":1677207488285,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9957637901","repostId":"1189816906","repostType":4,"repost":{"id":"1189816906","pubTimestamp":1677200528,"share":"https://ttm.financial/m/news/1189816906?lang=&edition=fundamental","pubTime":"2023-02-24 09:02","market":"us","language":"en","title":"3 Hot Stocks for Tomorrow: Friday Predictions for SQ, CVNA, Bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1189816906","media":"InvestorPlace","summary":"Block(SQ) is the first of our hot stocks for tomorrow, as it reports earnings after the close on Thu","content":"<html><head></head><body><ul><li><b>Block</b>(<b>SQ</b>) is the first of our hot stocks for tomorrow, as it reports earnings after the close on Thursday.</li><li><b>Carvana</b>(<b>CVNA</b>) also reports earnings amid swirling bankruptcy reports.</li><li><b>Bitcoin</b>(<b>BTC-USD</b>) faces a big technical hurdle on the weekly charts, even as it has traded quite well so far this year.</li></ul><p>The stock market wavered on Wednesday and ended slightly lower for the day. That marked the fourth straight daily decline for the <b>S&amp;P 500</b> and has investors looking for a turnaround. It also has them looking at hot stocks for tomorrow.</p><p><b>Nvidia</b>(NASDAQ: <b>NVDA</b>) leads the charge today with earnings in focus, but <b>Alibaba</b>(NYSE: <b>BABA</b>), <b>Lucid</b> <b>Motors</b>(NASDAQ: <b>LCID</b>), and others are also in the spotlight (here are the key levels to know now).</p><p>The Federal Reserve’s FOMC release on Wednesday afternoon sparked some volatility but nothing that seems to be rocking the boat all that much. The GDP report was released on Thursday morning, but investors are wondering if the stock market can end its recent run to the downside.</p><p>Let’s look at a few hot stocks for tomorrow — Friday.</p><p><b>Hot Stocks for Tomorrow: Block (SQ)</b></p><p>Just like all eyes are on Nvidia, Lucid, and others this morning, they will be on <b>Block</b>(NYSE: <b>SQ</b>) soon enough. That’s as the company reports earnings on Thursday after the close.</p><p>SQ stock has performed exceptionally well this year and has been very strong since bottoming on Nov. 3. So far, shares are up about 16% on the year and have rallied more than 40% from the recent low. That said, it hasn’t been an easy ride over the past year.</p><p>Combined with its exposure to cryptocurrencies, Block is considered a growth stock has made it a target for the bears. While growth stocks have traded quite well over the last four to six weeks, many are again starting to come under pressure.</p><p>Will the recent pullback provide enough of a dip to justify bidding these names higher on earnings, or will the quarter exacerbate the decline?</p><p><b>The Chart:</b> We have an excellent little “ABC” correction down to the 50-day moving average. A break of the 200-day moving average puts $66, then $58 to $60 in play. On the upside, a bullish reaction puts $78.50 to $80 in play, followed by the prior breakout level near $83, then finally, the $90 to $92 area.</p><p><b>Carvana (CVNA)</b></p><p><b>Carvana</b>(NYSE: <b>CVNA</b>) has been in the news a lot lately, mostly surrounding its potential bankruptcy. The company has been operating at a steep loss, with negative free cash flow and an intimidating debt load.</p><p>Bulls are hoping to hear something positive in the report. A way to ease the balance-sheet load or improve margins, cost cuts — really anything that points to a glimmer of hope in avoiding bankruptcy.</p><p>However, it is important to remember that CVNA stock has become a speculation vehicle for traders looking at a potential short squeeze.</p><p>According to Fintel, more than 70% of the float is currently sold short. In that sense, CVNA stock <i>could</i> be primed for a short squeeze if the results are better than feared.</p><p><b>The Chart:</b> Shares have been trending lower. First, bulls want to see shares clear $11.50, putting CVNA above the 10-day and 21-day moving averages. Really though, they want to see shares rally to (and potentially clear) $20 to $22. That’s the current resistance and the 200-day moving average. On the downside, bulls want to see a dip to the $7.50 to $8 area to hold as support.</p><p><b>Hot Stocks for Tomorrow: Bitcoin (BTC-USD)</b></p><p>Though technically not a stock, the enthusiasm for crypto has been on the rise again, and that’s being led by <b>Bitcoin</b>(<b>BTC-USD</b>). Bitcoin has done quite well over the few months, as buyers continue to elevate the leading cryptocurrency.</p><p>Cathie Wood recently reiterated her call for Bitcoin to trade at a seven-figure value eventually, but that could be a long way off — even by her measures.</p><p>So far, Bitcoin has rallied in five of the last seven weeks, although it’s down about 1.3% so far this week. For an asset like this, though, that figure can be erased in no time if bulls choose to do so.</p><p>The problem?</p><p>The short-term trend has been incredibly bullish. However, the long-term trends still look bearish at worst and questionable at best.</p><p><b>The Chart:</b> The chart above shows the daily view on the left and the weekly view on the right. Bitcoin is riding its 10-day moving average and is above all of its daily moving averages. It’s also holding above recent resistance near $23,750.</p><p>On the flip side, it’s stalling near the very key $25,000 level while also running right into its 200-week and 50-week moving averages. So if you are trading Bitcoin on the long side, you should know some of the more significant levels looming on the weekly chart.</p></body></html>","source":"investorplace","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 Hot Stocks for Tomorrow: Friday Predictions for SQ, CVNA, Bitcoin</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 Hot Stocks for Tomorrow: Friday Predictions for SQ, CVNA, Bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-24 09:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/02/sq-cvna-bitcoin-3-hot-stocks-for-tomorrow-friday-predictions/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Block(SQ) is the first of our hot stocks for tomorrow, as it reports earnings after the close on Thursday.Carvana(CVNA) also reports earnings amid swirling bankruptcy reports.Bitcoin(BTC-USD) faces a ...</p>\n\n<a href=\"https://investorplace.com/2023/02/sq-cvna-bitcoin-3-hot-stocks-for-tomorrow-friday-predictions/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CVNA":"Carvana Co.","SQ":"Block"},"source_url":"https://investorplace.com/2023/02/sq-cvna-bitcoin-3-hot-stocks-for-tomorrow-friday-predictions/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189816906","content_text":"Block(SQ) is the first of our hot stocks for tomorrow, as it reports earnings after the close on Thursday.Carvana(CVNA) also reports earnings amid swirling bankruptcy reports.Bitcoin(BTC-USD) faces a big technical hurdle on the weekly charts, even as it has traded quite well so far this year.The stock market wavered on Wednesday and ended slightly lower for the day. That marked the fourth straight daily decline for the S&P 500 and has investors looking for a turnaround. It also has them looking at hot stocks for tomorrow.Nvidia(NASDAQ: NVDA) leads the charge today with earnings in focus, but Alibaba(NYSE: BABA), Lucid Motors(NASDAQ: LCID), and others are also in the spotlight (here are the key levels to know now).The Federal Reserve’s FOMC release on Wednesday afternoon sparked some volatility but nothing that seems to be rocking the boat all that much. The GDP report was released on Thursday morning, but investors are wondering if the stock market can end its recent run to the downside.Let’s look at a few hot stocks for tomorrow — Friday.Hot Stocks for Tomorrow: Block (SQ)Just like all eyes are on Nvidia, Lucid, and others this morning, they will be on Block(NYSE: SQ) soon enough. That’s as the company reports earnings on Thursday after the close.SQ stock has performed exceptionally well this year and has been very strong since bottoming on Nov. 3. So far, shares are up about 16% on the year and have rallied more than 40% from the recent low. That said, it hasn’t been an easy ride over the past year.Combined with its exposure to cryptocurrencies, Block is considered a growth stock has made it a target for the bears. While growth stocks have traded quite well over the last four to six weeks, many are again starting to come under pressure.Will the recent pullback provide enough of a dip to justify bidding these names higher on earnings, or will the quarter exacerbate the decline?The Chart: We have an excellent little “ABC” correction down to the 50-day moving average. A break of the 200-day moving average puts $66, then $58 to $60 in play. On the upside, a bullish reaction puts $78.50 to $80 in play, followed by the prior breakout level near $83, then finally, the $90 to $92 area.Carvana (CVNA)Carvana(NYSE: CVNA) has been in the news a lot lately, mostly surrounding its potential bankruptcy. The company has been operating at a steep loss, with negative free cash flow and an intimidating debt load.Bulls are hoping to hear something positive in the report. A way to ease the balance-sheet load or improve margins, cost cuts — really anything that points to a glimmer of hope in avoiding bankruptcy.However, it is important to remember that CVNA stock has become a speculation vehicle for traders looking at a potential short squeeze.According to Fintel, more than 70% of the float is currently sold short. In that sense, CVNA stock could be primed for a short squeeze if the results are better than feared.The Chart: Shares have been trending lower. First, bulls want to see shares clear $11.50, putting CVNA above the 10-day and 21-day moving averages. Really though, they want to see shares rally to (and potentially clear) $20 to $22. That’s the current resistance and the 200-day moving average. On the downside, bulls want to see a dip to the $7.50 to $8 area to hold as support.Hot Stocks for Tomorrow: Bitcoin (BTC-USD)Though technically not a stock, the enthusiasm for crypto has been on the rise again, and that’s being led by Bitcoin(BTC-USD). Bitcoin has done quite well over the few months, as buyers continue to elevate the leading cryptocurrency.Cathie Wood recently reiterated her call for Bitcoin to trade at a seven-figure value eventually, but that could be a long way off — even by her measures.So far, Bitcoin has rallied in five of the last seven weeks, although it’s down about 1.3% so far this week. For an asset like this, though, that figure can be erased in no time if bulls choose to do so.The problem?The short-term trend has been incredibly bullish. However, the long-term trends still look bearish at worst and questionable at best.The Chart: The chart above shows the daily view on the left and the weekly view on the right. Bitcoin is riding its 10-day moving average and is above all of its daily moving averages. It’s also holding above recent resistance near $23,750.On the flip side, it’s stalling near the very key $25,000 level while also running right into its 200-week and 50-week moving averages. So if you are trading Bitcoin on the long side, you should know some of the more significant levels looming on the weekly chart.","news_type":1},"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9923581288,"gmtCreate":1670887058544,"gmtModify":1676538451848,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923581288","repostId":"2291491758","repostType":2,"repost":{"id":"2291491758","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":1670885407,"share":"https://ttm.financial/m/news/2291491758?lang=&edition=fundamental","pubTime":"2022-12-13 06:50","market":"us","language":"en","title":"UPDATE 1-White House says Musk's condemnation of Fauci is 'dangerous,' 'disgusting'","url":"https://stock-news.laohu8.com/highlight/detail?id=2291491758","media":"Reuters","summary":"(Adds background on Fauci, quote from White House briefing)   By Trevor Hunnicutt and Kanishka Singh","content":"<html><body><p>(Adds background on Fauci, quote from White House briefing)</p><p>   By Trevor Hunnicutt and Kanishka Singh</p><p>      WASHINGTON, Dec 12 (Reuters) - Billionaire Elon Musk's public condemnation of top U.S. health official Anthony Fauci is \"dangerous\" and \"disgusting,\" and should be called out, White House Press Secretary Karine Jean-Pierre told reporters on Monday.</p><p>   \"They are disgusting, and they are divorced from reality, and we will continue to call that out and be very clear about that,\" Jean-Pierre said on Monday. She praised Fauci's handling of public heath crises, including the coronavirus pandemic.</p><p>   Musk over the weekend had tweeted: \"My pronouns are Prosecute/Fauci.\" As the tweet went viral, the CEO of <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> and of electric car maker Tesla Inc    replied to his own post, adding: \"Truth resonates.\"</p><p>   Fauci, who said he planned to retire in December as President Joe Biden's top medical adviser and top U.S. infectious disease official, has dealt with the thorny questions around health crises from HIV/AIDS to avian flu and Ebola.</p><p>   The veteran immunologist has served as an adviser to seven U.S. presidents beginning with Republican Ronald Reagan and has had over 50 years of public service.</p><p>   But it was his handling of COVID - and his blunt assessments from the White House podium that Americans needed to change their behavior in light of the pandemic - that made him a hero to public health advocates while serving under former President Donald Trump, a villain to some on the right and an unusual celebrity among bureaucratic officials used to toiling in obscurity. </p><p>   The United States leads the world in recorded COVID-19 deaths with more than <a href=\"https://laohu8.com/S/AONE.U\">one</a> million.</p><p>   Fauci has said he has faced death threats. He endured criticism from Trump and from various conservatives who objected to safeguards such as vaccination, social distancing and masking that he advocated to try to limit the lethality of the pandemic.</p><p>   Republicans also threatened to probe Fauci if they got control of Congress in the midterm elections, in which they won control of the House of Representatives while the Democrats narrowly retained control of the Senate.</p><p>   &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Fauci, face of U.S. COVID response, to step down from government posts     U.S. Sen. Rand Paul driving violent threats against me, Fauci says     Fauci pleads with Americans to get COVID shot in final White House briefing    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Reporting by Trevor Hunnicutt in Washington; Writing by Kanishka Singh; Editing by Lincoln Feast.)</p><p>((Kanishka.Singh@thomsonreuters.com; +12024508248;))</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>UPDATE 1-White House says Musk's condemnation of Fauci is 'dangerous,' 'disgusting'</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\">\nUPDATE 1-White House says Musk's condemnation of Fauci is 'dangerous,' 'disgusting'\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\">2022-12-13 06:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>(Adds background on Fauci, quote from White House briefing)</p><p>   By Trevor Hunnicutt and Kanishka Singh</p><p>      WASHINGTON, Dec 12 (Reuters) - Billionaire Elon Musk's public condemnation of top U.S. health official Anthony Fauci is \"dangerous\" and \"disgusting,\" and should be called out, White House Press Secretary Karine Jean-Pierre told reporters on Monday.</p><p>   \"They are disgusting, and they are divorced from reality, and we will continue to call that out and be very clear about that,\" Jean-Pierre said on Monday. She praised Fauci's handling of public heath crises, including the coronavirus pandemic.</p><p>   Musk over the weekend had tweeted: \"My pronouns are Prosecute/Fauci.\" As the tweet went viral, the CEO of <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> and of electric car maker Tesla Inc    replied to his own post, adding: \"Truth resonates.\"</p><p>   Fauci, who said he planned to retire in December as President Joe Biden's top medical adviser and top U.S. infectious disease official, has dealt with the thorny questions around health crises from HIV/AIDS to avian flu and Ebola.</p><p>   The veteran immunologist has served as an adviser to seven U.S. presidents beginning with Republican Ronald Reagan and has had over 50 years of public service.</p><p>   But it was his handling of COVID - and his blunt assessments from the White House podium that Americans needed to change their behavior in light of the pandemic - that made him a hero to public health advocates while serving under former President Donald Trump, a villain to some on the right and an unusual celebrity among bureaucratic officials used to toiling in obscurity. </p><p>   The United States leads the world in recorded COVID-19 deaths with more than <a href=\"https://laohu8.com/S/AONE.U\">one</a> million.</p><p>   Fauci has said he has faced death threats. He endured criticism from Trump and from various conservatives who objected to safeguards such as vaccination, social distancing and masking that he advocated to try to limit the lethality of the pandemic.</p><p>   Republicans also threatened to probe Fauci if they got control of Congress in the midterm elections, in which they won control of the House of Representatives while the Democrats narrowly retained control of the Senate.</p><p>   &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Fauci, face of U.S. COVID response, to step down from government posts     U.S. Sen. Rand Paul driving violent threats against me, Fauci says     Fauci pleads with Americans to get COVID shot in final White House briefing    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Reporting by Trevor Hunnicutt in Washington; Writing by Kanishka Singh; Editing by Lincoln Feast.)</p><p>((Kanishka.Singh@thomsonreuters.com; +12024508248;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1861215975.USD":"贝莱德新一代科技基金 A2","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4555":"新能源车","LU2063271972.USD":"富兰克林创新领域基金","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","BK4527":"明星科技股","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4550":"红杉资本持仓","LU1548497426.USD":"安联环球人工智能AT Acc","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","TSLA":"特斯拉","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4574":"无人驾驶","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4551":"寇图资本持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4581":"高盛持仓","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4099":"汽车制造商","BK4511":"特斯拉概念","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","BK4548":"巴美列捷福持仓","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0823411888.USD":"法巴消费创新基金 Cap","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0056508442.USD":"贝莱德世界科技基金A2","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2291491758","content_text":"(Adds background on Fauci, quote from White House briefing)   By Trevor Hunnicutt and Kanishka Singh      WASHINGTON, Dec 12 (Reuters) - Billionaire Elon Musk's public condemnation of top U.S. health official Anthony Fauci is \"dangerous\" and \"disgusting,\" and should be called out, White House Press Secretary Karine Jean-Pierre told reporters on Monday.   \"They are disgusting, and they are divorced from reality, and we will continue to call that out and be very clear about that,\" Jean-Pierre said on Monday. She praised Fauci's handling of public heath crises, including the coronavirus pandemic.   Musk over the weekend had tweeted: \"My pronouns are Prosecute/Fauci.\" As the tweet went viral, the CEO of Twitter and of electric car maker Tesla Inc    replied to his own post, adding: \"Truth resonates.\"   Fauci, who said he planned to retire in December as President Joe Biden's top medical adviser and top U.S. infectious disease official, has dealt with the thorny questions around health crises from HIV/AIDS to avian flu and Ebola.   The veteran immunologist has served as an adviser to seven U.S. presidents beginning with Republican Ronald Reagan and has had over 50 years of public service.   But it was his handling of COVID - and his blunt assessments from the White House podium that Americans needed to change their behavior in light of the pandemic - that made him a hero to public health advocates while serving under former President Donald Trump, a villain to some on the right and an unusual celebrity among bureaucratic officials used to toiling in obscurity.    The United States leads the world in recorded COVID-19 deaths with more than one million.   Fauci has said he has faced death threats. He endured criticism from Trump and from various conservatives who objected to safeguards such as vaccination, social distancing and masking that he advocated to try to limit the lethality of the pandemic.   Republicans also threatened to probe Fauci if they got control of Congress in the midterm elections, in which they won control of the House of Representatives while the Democrats narrowly retained control of the Senate.   <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Fauci, face of U.S. COVID response, to step down from government posts     U.S. Sen. Rand Paul driving violent threats against me, Fauci says     Fauci pleads with Americans to get COVID shot in final White House briefing       ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>(Reporting by Trevor Hunnicutt in Washington; Writing by Kanishka Singh; Editing by Lincoln Feast.)((Kanishka.Singh@thomsonreuters.com; +12024508248;))","news_type":1},"isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966749792,"gmtCreate":1669669317117,"gmtModify":1676538219433,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9966749792","repostId":"2287516400","repostType":2,"repost":{"id":"2287516400","pubTimestamp":1669663080,"share":"https://ttm.financial/m/news/2287516400?lang=&edition=fundamental","pubTime":"2022-11-29 03:18","market":"us","language":"en","title":"The S&P 500 Rises During Slow Trading Week","url":"https://stock-news.laohu8.com/highlight/detail?id=2287516400","media":"seekingalpha","summary":"ismagilov Shortened by the Thanksgiving Day holiday, the S&P 500 (Index: SPX) mostly rose during a s","content":"<html><body><p><figure><picture> <img height=\"933px\" sizes=\"(max-width: 768px) calc(100vw - 36px), (max-width: 1024px) calc(100vw - 132px), (max-width: 1200px) calc(66.6vw - 72px), 600px\" src=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg?io=getty-c-w750\" srcset=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg?io=getty-c-w1536 1536w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg?io=getty-c-w1280 1280w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg?io=getty-c-w1080 1080w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg?io=getty-c-w750 750w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg?io=getty-c-w640 640w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg?io=getty-c-w480 480w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg?io=getty-c-w320 320w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg?io=getty-c-w240 240w\" width=\"1536px\"/> </picture><figcaption> <p>ismagilov</p></figcaption></figure></p> <p>Shortened by the Thanksgiving Day holiday, the S&amp;P 500 (Index: SPX) mostly rose during a slow trading week, only dipping slightly on Friday, 25 November 2022 to end the week at 4,026.12. The index is 770.44 points (or 16.1%) below its all-time record<span> high close on 3 January 2022.</span></p> <p>The newly updated alternative futures chart shows the index's trajectory as running to the high side of the range associated with investors focusing their attention on the current quarter of 2022-Q4.</p> <p><img loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2022/11/28/saupload_alternative-futures-SP500-2022Q4-standard-model-m-at-P2_0-from-20220913-snapshot-20221125.png\"/></p> <p>We'll soon be entering a period where the echoes of past volatility will skew the dividend futures' model's raw projections. Looking past that period however, we see the projections for 2023-Q1 are rising to a similar level as today's stock prices. That opens up the possibility that when investors act to shift their forward-looking focus away from the current quarter, which they'll be forced to do in the next several weeks, stock prices may not change much from their current level.</p> <p>Until, that is, investors have reason to look past 2023-Q1 to consider what comes after. As we've seen over the past several weeks, the top two drivers affecting how far into the future investors are looking is what the Fed will do with interest rates and when it will do them.</p> <p>We'll cover what changes they're expecting and when they're expecting them at the end, but for now, here are the market-moving headlines of the week to provide the context in which investors made decisions during the holiday-shortened, slow trading week that was.</p> <p><strong>Monday, 21 November 2022</strong></p> <ul> <li>Signs and portents for the U.S. economy:<ul><li>Oil rebounds from early plunge after Saudis deny OPEC+ output report</li></ul> </li> <li>Fed minions say smaller rate hikes ahead, Federal Funds Rate to peak around 5%<ul> <li>Fed's Mester says she supports smaller rate hike in December</li> <li> Fed's Daly: Currently expect fed funds rate to top out around 5%<ul> <li>Fed's Daly: Lots of options on table for December FOMC rate hike</li> <li>Real impact of Fed hikes likely bigger than what target rate implies, Daly says</li> </ul> </li> </ul> </li> <li>Bigger trouble developing in China:<ul><li>Beijing reports 316 new local COVID cases, enforces inbound travel rules</li></ul> </li> <li>Bigger stimulus developing in China:<ul> <li>China tells banks to step up credit support for economy</li> <li>China leaves lending benchmarks unchanged for 3rd straight month in Nov</li> <li>China regulator plans to improve balance sheets of 'good quality' developers</li> <li>China to provide 200 billion yuan in loans to commercial banks for housing completions</li> </ul> </li> <li>JapanGov, BOJ minions looking to deliver more stimulus:<ul> <li>Japan finance minister urges swift adoption of more spending measures</li> <li>BOJ deputy governor candidate calls for more flexible rate policy</li> </ul> </li> <li>Positive growth signs, bigger stimulus developing in Eurozone:<ul> <li>German tax take rebounds in October -ministry report</li> <li>German industry calls for more support to diversify beyond China</li> </ul> </li> <li>ECB minions thinking about backing off from bigger rate hikes, say Eurozone inflation will top out in early 2023:<ul> <li> ECB's Lane makes case for smaller rate hikes ahead - MNI<ul><li>ECB's Centeno sees possibility of rate hike smaller than 75 bps</li></ul> </li> <li>ECB's Villeroy: inflation in France and Europe will peak in first half of 2023</li> </ul> </li> <li>Wall Street slips as concerns rise of stricter China COVID curbs</li> </ul> <p><strong>Tuesday, 22 November 2022</strong></p> <ul> <li>Signs and portents for the U.S. economy:<ul><li>Oil rises 1% as OPEC+ focus on supply cuts outweighs recession concerns</li></ul> </li> <li>Fed minions say their focused on fighting inflation with rate hikes, wonder why Americans aren't saving more:<ul> <li>Fed's Mester: Lowering inflation remains Fed's main goal</li> <li>Fed's George: Could take higher interest rates for longer to encourage saving</li> </ul> </li> <li>Bigger trouble, stimulus developing in the Eurozone:<ul> <li> Europe to be hit hardest in global slowdown -OECD<ul><li>Almost one in five Germans dipping into savings to get by - poll</li></ul> </li> <li> Euro zone must keep investing during slowdown, help ECB fight inflation -Commission<ul><li>German finance minister: must talk about fiscal stimulus for 2024 budget</li></ul> </li> </ul> </li> <li>BOJ minions see inflation hit record high while they continue never-ending stimulus:<ul><li>BOJ's price gauge hits record high in sign of broadening inflation</li></ul> </li> <li>ECB minions excited to deliver smaller rate hikes with Eurozone entering recession:<ul> <li>ECB set to raise deposit rate 50 bps as euro zone enters recession -economists: Reuters poll</li> <li>ECB's Nagel opens door to smaller hikes but sees long way to go</li> <li>ECB's Rehn says inflation, economy will decide pace of rate hikes</li> <li>ECB's Holzmann says leaning towards a 0.75% rate hike as things stand</li> <li>ECB still has long way ahead of it on rate hikes -Ifo president</li> </ul> </li> <li>S&amp;P closes at more than two-month high on retail, energy lift</li> </ul> <p><strong>Wednesday, 23 November 2022</strong></p> <ul> <li>Signs and portents for the U.S. economy:<ul> <li>Oil slides over 3% on Russian price cap talks, U.S. gasoline build</li> <li>U.S. weekly jobless claims at 3-month high; equipment spending resilient</li> <li>U.S. new home sales unexpectedly rise in October</li> <li>U.S. business activity weakens further in November - S&amp;P Global survey</li> <li>U.S. core capital goods orders, shipments rebound strongly in October</li> </ul> </li> <li>Fed minions getting set to shrink size of rate hikes:<ul><li> 'Substantial majority' of Fed officials see slowdown in rate hikes 'soon'<ul><li>At November Fed meeting, officials flagged market resilience amid volatile conditions</li></ul> </li></ul> </li> <li>Bigger stimulus developing in China:<ul><li>China will use timely RRR cuts to keep liquidity ample -state media cites cabinet</li></ul> </li> <li>ECB minions thinking about smaller rate hikes as they expect recession to take hold this quarter:<ul> <li>Centeno wants ECB to send clear message of gentler rate hikes</li> <li> Euro zone growth will likely be negative in Q4, inflation high, ECB's De Guindos Says<ul> <li>French economy contracted in November - flash PMI</li> <li>German downturn eases in Nov, bringing hope for milder recession -flash PMI</li> </ul> </li> </ul> </li> <li>Wall Street rises as Fed signals slowdown in rate hikes</li> </ul> <p><strong>Friday, 25 November 2022</strong></p> <ul> <li>Signs and portents for the U.S. economy:<ul><li>Oil prices fall 2% as Chinese demand worries linger</li></ul> </li> <li>Bigger trouble developing in Japan:<ul> <li>Japan Nov factory activity shrinks at quickest pace in 2 years</li> <li>Consumer inflation in Japan's capital rises at fastest pace in 40 years</li> </ul> </li> <li>BOJ minions looking for reasons to continue never-ending stimulus:<ul><li>Global risks to keep BOJ from adjusting yield cap next year - ex-central bank executive</li></ul> </li> <li>Bigger stimulus developing in China:<ul> <li>China banks pledge $162 billion in credit to developers, shares rally</li> <li>Bank of China agrees to provide credit lines totaling more than 600 billion yuan to 10 property developers</li> <li>China frees up $70 billion for banks to underpin slowing economy</li> </ul> </li> <li>ECB minions point at inflation to justify rate hikes, claim its peaking:<ul> <li>ECB accounts show inflation fears justifying more rate hikes</li> <li>Euro area inflation likely near its peak, ECB's De Guindos says</li> <li>ECB's Schnabel pushes back on smaller rate hikes</li> <li>ECB's Lane plays down wage, core inflation fears</li> </ul> </li> <li>Nasdaq ends down as investors eye Black Friday sales, China infections</li> </ul> <p>The CME Group's FedWatch Tool continues to project half-point rate hikes at the Fed's upcoming December (2022-Q4) and February 2023 (2023-Q1) meetings. Followed by a quarter-point rate hike in March (2023-Q1), the Federal Funds Rate is still projected to peak at a target range of 5.00-5.25%. Looking further forward, the FedWatch tool now anticipates a quarter-point rate cut in July (2023-Q3) as the Fed is forced to go into reverse by developing recessionary conditions in the U.S. economy.</p> <p>The Atlanta Fed's GDPNow tool's projection for real GDP growth in 2022-Q4 rose slightly to +4.3% from last week's +4.2% estimate. There continues to be a large gap between its current projection and the so-called \"Blue Chip consensus\" that predicts near-zero growth in 2022-Q4.</p> <p><em>Original Post</em></p> <div></div> <p><em><strong>Editor's Note:</strong> The summary bullets for this article were chosen by Seeking Alpha editors.</em></p></body></html>","source":"seekingalpha","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 S&P 500 Rises During Slow Trading 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\">\nThe S&P 500 Rises During Slow Trading Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-29 03:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4560885-the-s-and-p-500-rises-during-slow-trading-week><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ismagilov Shortened by the Thanksgiving Day holiday, the S&P 500 (Index: SPX) mostly rose during a slow trading week, only dipping slightly on Friday, 25 November 2022 to end the week at 4,026.12. The...</p>\n\n<a href=\"https://seekingalpha.com/article/4560885-the-s-and-p-500-rises-during-slow-trading-week\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1347345879/image_1347345879.jpg","relate_stocks":{"161125":"标普500","513500":"标普500ETF","BK4581":"高盛持仓","BK4550":"红杉资本持仓","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares","BK4504":"桥水持仓","OEX":"标普100",".SPX":"S&P 500 Index","SPY":"标普500ETF","SH":"标普500反向ETF","UPRO":"三倍做多标普500ETF","IVV":"标普500指数ETF","SDS":"两倍做空标普500ETF","SSO":"两倍做多标普500ETF","BK4559":"巴菲特持仓","BK4534":"瑞士信贷持仓"},"source_url":"https://seekingalpha.com/article/4560885-the-s-and-p-500-rises-during-slow-trading-week","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2287516400","content_text":"ismagilov Shortened by the Thanksgiving Day holiday, the S&P 500 (Index: SPX) mostly rose during a slow trading week, only dipping slightly on Friday, 25 November 2022 to end the week at 4,026.12. The index is 770.44 points (or 16.1%) below its all-time record high close on 3 January 2022. The newly updated alternative futures chart shows the index's trajectory as running to the high side of the range associated with investors focusing their attention on the current quarter of 2022-Q4.  We'll soon be entering a period where the echoes of past volatility will skew the dividend futures' model's raw projections. Looking past that period however, we see the projections for 2023-Q1 are rising to a similar level as today's stock prices. That opens up the possibility that when investors act to shift their forward-looking focus away from the current quarter, which they'll be forced to do in the next several weeks, stock prices may not change much from their current level. Until, that is, investors have reason to look past 2023-Q1 to consider what comes after. As we've seen over the past several weeks, the top two drivers affecting how far into the future investors are looking is what the Fed will do with interest rates and when it will do them. We'll cover what changes they're expecting and when they're expecting them at the end, but for now, here are the market-moving headlines of the week to provide the context in which investors made decisions during the holiday-shortened, slow trading week that was. Monday, 21 November 2022  Signs and portents for the U.S. economy:Oil rebounds from early plunge after Saudis deny OPEC+ output report  Fed minions say smaller rate hikes ahead, Federal Funds Rate to peak around 5% Fed's Mester says she supports smaller rate hike in December  Fed's Daly: Currently expect fed funds rate to top out around 5% Fed's Daly: Lots of options on table for December FOMC rate hike Real impact of Fed hikes likely bigger than what target rate implies, Daly says     Bigger trouble developing in China:Beijing reports 316 new local COVID cases, enforces inbound travel rules  Bigger stimulus developing in China: China tells banks to step up credit support for economy China leaves lending benchmarks unchanged for 3rd straight month in Nov China regulator plans to improve balance sheets of 'good quality' developers China to provide 200 billion yuan in loans to commercial banks for housing completions   JapanGov, BOJ minions looking to deliver more stimulus: Japan finance minister urges swift adoption of more spending measures BOJ deputy governor candidate calls for more flexible rate policy   Positive growth signs, bigger stimulus developing in Eurozone: German tax take rebounds in October -ministry report German industry calls for more support to diversify beyond China   ECB minions thinking about backing off from bigger rate hikes, say Eurozone inflation will top out in early 2023:  ECB's Lane makes case for smaller rate hikes ahead - MNIECB's Centeno sees possibility of rate hike smaller than 75 bps  ECB's Villeroy: inflation in France and Europe will peak in first half of 2023   Wall Street slips as concerns rise of stricter China COVID curbs  Tuesday, 22 November 2022  Signs and portents for the U.S. economy:Oil rises 1% as OPEC+ focus on supply cuts outweighs recession concerns  Fed minions say their focused on fighting inflation with rate hikes, wonder why Americans aren't saving more: Fed's Mester: Lowering inflation remains Fed's main goal Fed's George: Could take higher interest rates for longer to encourage saving   Bigger trouble, stimulus developing in the Eurozone:  Europe to be hit hardest in global slowdown -OECDAlmost one in five Germans dipping into savings to get by - poll   Euro zone must keep investing during slowdown, help ECB fight inflation -CommissionGerman finance minister: must talk about fiscal stimulus for 2024 budget    BOJ minions see inflation hit record high while they continue never-ending stimulus:BOJ's price gauge hits record high in sign of broadening inflation  ECB minions excited to deliver smaller rate hikes with Eurozone entering recession: ECB set to raise deposit rate 50 bps as euro zone enters recession -economists: Reuters poll ECB's Nagel opens door to smaller hikes but sees long way to go ECB's Rehn says inflation, economy will decide pace of rate hikes ECB's Holzmann says leaning towards a 0.75% rate hike as things stand ECB still has long way ahead of it on rate hikes -Ifo president   S&P closes at more than two-month high on retail, energy lift  Wednesday, 23 November 2022  Signs and portents for the U.S. economy: Oil slides over 3% on Russian price cap talks, U.S. gasoline build U.S. weekly jobless claims at 3-month high; equipment spending resilient U.S. new home sales unexpectedly rise in October U.S. business activity weakens further in November - S&P Global survey U.S. core capital goods orders, shipments rebound strongly in October   Fed minions getting set to shrink size of rate hikes: 'Substantial majority' of Fed officials see slowdown in rate hikes 'soon'At November Fed meeting, officials flagged market resilience amid volatile conditions   Bigger stimulus developing in China:China will use timely RRR cuts to keep liquidity ample -state media cites cabinet  ECB minions thinking about smaller rate hikes as they expect recession to take hold this quarter: Centeno wants ECB to send clear message of gentler rate hikes  Euro zone growth will likely be negative in Q4, inflation high, ECB's De Guindos Says French economy contracted in November - flash PMI German downturn eases in Nov, bringing hope for milder recession -flash PMI     Wall Street rises as Fed signals slowdown in rate hikes  Friday, 25 November 2022  Signs and portents for the U.S. economy:Oil prices fall 2% as Chinese demand worries linger  Bigger trouble developing in Japan: Japan Nov factory activity shrinks at quickest pace in 2 years Consumer inflation in Japan's capital rises at fastest pace in 40 years   BOJ minions looking for reasons to continue never-ending stimulus:Global risks to keep BOJ from adjusting yield cap next year - ex-central bank executive  Bigger stimulus developing in China: China banks pledge $162 billion in credit to developers, shares rally Bank of China agrees to provide credit lines totaling more than 600 billion yuan to 10 property developers China frees up $70 billion for banks to underpin slowing economy   ECB minions point at inflation to justify rate hikes, claim its peaking: ECB accounts show inflation fears justifying more rate hikes Euro area inflation likely near its peak, ECB's De Guindos says ECB's Schnabel pushes back on smaller rate hikes ECB's Lane plays down wage, core inflation fears   Nasdaq ends down as investors eye Black Friday sales, China infections  The CME Group's FedWatch Tool continues to project half-point rate hikes at the Fed's upcoming December (2022-Q4) and February 2023 (2023-Q1) meetings. Followed by a quarter-point rate hike in March (2023-Q1), the Federal Funds Rate is still projected to peak at a target range of 5.00-5.25%. Looking further forward, the FedWatch tool now anticipates a quarter-point rate cut in July (2023-Q3) as the Fed is forced to go into reverse by developing recessionary conditions in the U.S. economy. The Atlanta Fed's GDPNow tool's projection for real GDP growth in 2022-Q4 rose slightly to +4.3% from last week's +4.2% estimate. There continues to be a large gap between its current projection and the so-called \"Blue Chip consensus\" that predicts near-zero growth in 2022-Q4. Original Post  Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.","news_type":1},"isVote":1,"tweetType":1,"viewCount":621,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9969101497,"gmtCreate":1668381857320,"gmtModify":1676538046041,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9969101497","repostId":"1161914183","repostType":2,"isVote":1,"tweetType":1,"viewCount":288,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916085660,"gmtCreate":1664489477151,"gmtModify":1676537462578,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9916085660","repostId":"2271449077","repostType":2,"repost":{"id":"2271449077","pubTimestamp":1664487209,"share":"https://ttm.financial/m/news/2271449077?lang=&edition=fundamental","pubTime":"2022-09-30 05:33","market":"us","language":"en","title":"Elon Musk Sounds the Alarm on a Big Problem Online","url":"https://stock-news.laohu8.com/highlight/detail?id=2271449077","media":"TheStreet","summary":"Elon Musk is one of the most influential personalities on social media. The billionaire CEO of Tesla","content":"<html><body><div><p>Elon Musk is one of the most influential personalities on social media. </p><p>The billionaire CEO of Tesla <span> (<strong>TSLA</strong>) </span> has understood that it is on these platforms that trends are made today and opinions are formed. </p><p>For a large section of consumers and people, social networks are even the main source of information. It is therefore no surprise that Musk, who is often called the meme CEO, himself interacts daily with users on Twitter, his favorite communication channel where he regularly makes announcements about the products and services of his companies - Tesla, SpaceX, The Boring Company and Neuralink. </p><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-044a841779584b95ba7dd60c95035037\",\"visClasses\":[\"not-size-b\",\"not-size-c\",\"not-size-d\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-0\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[320,50],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"0\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"standard\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":320,\"height\":50},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"A\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"0\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"standard\"},\"id\":\"ad-044a841779584b95ba7dd60c95035037\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><p>The microblogging website thus provides him with free advertising, especially since Musk has 107 million followers there. Like him, many companies are regularly using social networks to reach new consumers, expand their customer base and retain existing customers at a time when our daily lives are driven by tech. </p><p>But if social networks provide significant exposure because a video can go viral, there are also many risks for brand image. </p><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"728x90\"],\"classes\":[\"is-728x90\"]},{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-a1c44d4e2a124f77ad799ff6f588ecb9\",\"visClasses\":[\"not-size-a\",\"not-size-b\",\"not-size-c\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-0\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[728,90],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"0\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":728,\"height\":90},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"D\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"0\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"id\":\"ad-a1c44d4e2a124f77ad799ff6f588ecb9\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"728x90\"],\"classes\":[\"is-728x90\"]},{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-0246343a0dc643e78312cee7fea711a5\",\"visClasses\":[\"not-size-a\",\"not-size-b\",\"not-size-d\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-0\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[728,90],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"0\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":728,\"height\":90},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"C\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"0\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"id\":\"ad-0246343a0dc643e78312cee7fea711a5\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><p>One of these risks is when advertising promoting a company's products or services is placed alongside inappropriate and highly sensitive content. This often gives the impression that the brand is attached to or supports the content in question. </p><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"728x90\"],\"classes\":[\"is-728x90\"]},{\"sizes\":[\"970x90\"],\"classes\":[\"is-970x90\"]},{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-dde597a16cda4e67a262674beb94d9bc\",\"visClasses\":[\"not-size-a\",\"not-size-c\",\"not-size-d\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-0\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[728,90],[970,90],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"0\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":728,\"height\":90},{\"width\":970,\"height\":90},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"B\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"0\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"id\":\"ad-dde597a16cda4e67a262674beb94d9bc\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-f2e74488061c4f429f70dc0eddfe8d8e\",\"visClasses\":[\"not-size-b\",\"not-size-c\",\"not-size-d\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-1\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[320,50],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"1\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"standard\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":320,\"height\":50},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"A\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"1\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"standard\"},\"id\":\"ad-f2e74488061c4f429f70dc0eddfe8d8e\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><h2>Ads and Child Sex Abuse</h2><p>To avoid confusion, companies often find themselves forced to remove their ads from platforms whose moderation policies are deemed lax. Such a decision translates into less revenue for the platforms in question whose economic model is based mainly on revenue generated by advertising. </p><p>This is what just happened to Twitter <span> (<strong>TWTR</strong>) </span> which placed marketing campaigns from vehicle manufacturer Mazda, Dyson and chemicals company Ecolab <span> (<strong>ECL</strong>) </span> alongside tweets soliciting child pornography.</p><p>\"We're horrified,\" David Maddocks, brand president at shoe maker Cole Haan, told Reuters after the news outlet notified him that the company's ads appeared next to a tweet in which the author said \" trading teen/child.\"</p><aside><div><phoenix-ad 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config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"728x90\"],\"classes\":[\"is-728x90\"]},{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for 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</span> to Coca-Cola <span> (<strong>KO</strong>) </span> to NBCUniversal <span> (<strong>CMCSA</strong>) </span> have ads that appear on Twitter account pages with content promoting child pornography, says Reuters who reviewed the findings of a study cybersecurity firm Ghost Data on online child sex abuse.</p><p>\"Extremely concerning,\" commented Musk, 51, father of nine.</p><div><figure><phoenix-twitter-embed block-on-gdpr-purpose-consent=\"content\" block-on-gdpr-vendor-consent=\"twitter\" tweet-url=\"https://twitter.com/elonmusk/status/1575211053901746177\"></phoenix-twitter-embed></figure></div><aside><div><phoenix-ad 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config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-b14274e684cb4e838396290365accc1b\",\"visClasses\":[\"not-size-b\",\"not-size-c\",\"not-size-d\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-2\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[320,50],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"2\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"standard\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":320,\"height\":50},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"A\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"2\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"standard\"},\"id\":\"ad-b14274e684cb4e838396290365accc1b\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><p>It's important to note that the billionaire is currently in a legal battle with Twitter after he abruptly withdrew his offer to acquire the platform for $44 billion.</p><p>\"We do not tolerate child sexual exploitation on Twitter,\" the company said in its Transparency Reports published last July. \"When we are made aware of child sexual exploitation media, including links to images of or content promoting child exploitation, the material will be removed from the site without further notice and reported to The National Center for Missing &amp; Exploited Children (\"NCMEC\").\"</p><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"728x90\"],\"classes\":[\"is-728x90\"]},{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for 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config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"728x90\"],\"classes\":[\"is-728x90\"]},{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-5978d06f6ba2498e848453bb7d981a54\",\"visClasses\":[\"not-size-a\",\"not-size-b\",\"not-size-d\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-2\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[728,90],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"2\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":728,\"height\":90},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"C\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"2\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"id\":\"ad-5978d06f6ba2498e848453bb7d981a54\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><p>It added that: \"We suspended 596,997 unique accounts during this reporting period – a 32% increase since our previous report.\"</p><p>The reports covers July-December 2021.</p><h2>New Revelations Underway?</h2><p>Aware of the seriousness of Reuters' revelations, Twitter sent an email to advertisers as a form of damage control before the article was published.</p><p>In the email, the company said it \"discovered that ads were running within profiles that were involved with publicly selling or soliciting child sexual abuse material.”</p><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"728x90\"],\"classes\":[\"is-728x90\"]},{\"sizes\":[\"970x90\"],\"classes\":[\"is-970x90\"]},{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-e6ddb2d75f754cd2b96be813bae391db\",\"visClasses\":[\"not-size-a\",\"not-size-c\",\"not-size-d\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-2\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[728,90],[970,90],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"2\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":728,\"height\":90},{\"width\":970,\"height\":90},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"B\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"2\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"id\":\"ad-e6ddb2d75f754cd2b96be813bae391db\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><p>\"We were able to identify over 500 active Twitter accounts that openly shared or requested child pornography material in a period spanning from September 1st to September 20,\" Ghost Data said in its report that you can read here. \"These 500 accounts produced more than 10,000 tweets, almost half about to trading of illicit material.\"</p><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-08af04116ebc4f149d368281692b8671\",\"visClasses\":[\"not-size-b\",\"not-size-c\",\"not-size-d\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-3\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[320,50],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"3\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"standard\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":320,\"height\":50},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"A\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"3\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"standard\"},\"id\":\"ad-08af04116ebc4f149d368281692b8671\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><p>\"These accounts accumulated over 2,000 unique followers. At least several of these followers, even if they do not show any public activities, are likely involved in illicit trade of child porn material,\" the firm added.</p><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"728x90\"],\"classes\":[\"is-728x90\"]},{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-b625f01ed87e4f5fbcc5b58e65f35f4f\",\"visClasses\":[\"not-size-a\",\"not-size-b\",\"not-size-c\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-3\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[728,90],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"3\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":728,\"height\":90},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"D\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"3\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"id\":\"ad-b625f01ed87e4f5fbcc5b58e65f35f4f\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><aside><div><phoenix-ad config='{\"adHtml\":\"\",\"adReloaderDelay\":0,\"maxAdReloads\":5,\"adReloaderSizeCodes\":null,\"adCloseButton\":false,\"classRules\":[{\"sizes\":[\"728x90\"],\"classes\":[\"is-728x90\"]},{\"sizes\":[\"0x0\"],\"classes\":[\"m-advertisement--fluid-card\"]}],\"localizedPhrases\":{\"advertisement_legend\":\"ADVERTISEMENT\",\"outstream_clickout\":\"Visit Website\",\"outstream_thanks\":\"Thanks for watching!\"},\"overrideOutstreamScript\":false,\"moduleClass\":\"m-in-content-ad\",\"slotId\":\"ad-02ebb28cec1144a187acb1cc50d73623\",\"visClasses\":[\"not-size-a\",\"not-size-b\",\"not-size-d\"],\"extraClasses\":null,\"zone\":\"in_content\",\"outstream\":false,\"adGroup\":\"in_content-3\",\"slotConfig\":{\"config\":{\"sizes\":[[300,250],[728,90],\"fluid\",[1,2]]},\"model\":{\"zone\":\"in_content\",\"index\":\"3\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"sizes\":[{\"width\":300,\"height\":250},{\"width\":728,\"height\":90},{\"name\":\"fluid\"},{\"width\":1,\"height\":2}],\"screenSizes\":[\"C\"],\"slotModel\":{\"zone\":\"in_content\",\"index\":\"3\",\"isOutstream\":false,\"deferLoad\":false,\"nativeCardType\":\"list\"},\"id\":\"ad-02ebb28cec1144a187acb1cc50d73623\",\"adUnitPath\":\"/88059007/www.thestreet.com/technology\"},\"showBlockthrough\":true}'></phoenix-ad></div></aside><p>Twitter suspended only 27.5% of the users that publicly shared child pornography links, material, and references in the first 20 days of September, Ghost Data said.</p><p>\"To date, still, more than 400 users are active after « the purge. Many of these users have been active for months.\"</p><p>Andrea Stroppa, one of the researchers behind the study, promised new revelations in the coming days.</p><p>\"More news soon. Stay tuned $TWTR,\" he wrote on Sept.29.</p><div><figure><phoenix-twitter-embed block-on-gdpr-purpose-consent=\"content\" block-on-gdpr-vendor-consent=\"twitter\" tweet-url=\"https://twitter.com/andst7/status/1575455948914696193\"></phoenix-twitter-embed></figure></div><p>Twitter didn't immediately respond to a request for comment.</p></div></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>Elon Musk Sounds the Alarm on a Big Problem Online</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\">\nElon Musk Sounds the Alarm on a Big Problem Online\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-30 05:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/technology/elon-musk-sounds-the-alarm-on-a-big-problem-online><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Elon Musk is one of the most influential personalities on social media. The billionaire CEO of Tesla  (TSLA)  has understood that it is on these platforms that trends are made today and opinions are ...</p>\n\n<a href=\"https://www.thestreet.com/technology/elon-musk-sounds-the-alarm-on-a-big-problem-online\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4581":"高盛持仓","BK4099":"汽车制造商","BK4511":"特斯拉概念","BK4548":"巴美列捷福持仓","BK4574":"无人驾驶","BK4551":"寇图资本持仓","BK4555":"新能源车","BK4550":"红杉资本持仓","BK4534":"瑞士信贷持仓","BK4527":"明星科技股","TSLA":"特斯拉","BK4533":"AQR资本管理(全球第二大对冲基金)"},"source_url":"https://www.thestreet.com/technology/elon-musk-sounds-the-alarm-on-a-big-problem-online","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2271449077","content_text":"Elon Musk is one of the most influential personalities on social media. The billionaire CEO of Tesla  (TSLA)  has understood that it is on these platforms that trends are made today and opinions are formed. For a large section of consumers and people, social networks are even the main source of information. It is therefore no surprise that Musk, who is often called the meme CEO, himself interacts daily with users on Twitter, his favorite communication channel where he regularly makes announcements about the products and services of his companies - Tesla, SpaceX, The Boring Company and Neuralink. The microblogging website thus provides him with free advertising, especially since Musk has 107 million followers there. Like him, many companies are regularly using social networks to reach new consumers, expand their customer base and retain existing customers at a time when our daily lives are driven by tech. But if social networks provide significant exposure because a video can go viral, there are also many risks for brand image. One of these risks is when advertising promoting a company's products or services is placed alongside inappropriate and highly sensitive content. This often gives the impression that the brand is attached to or supports the content in question. Ads and Child Sex AbuseTo avoid confusion, companies often find themselves forced to remove their ads from platforms whose moderation policies are deemed lax. Such a decision translates into less revenue for the platforms in question whose economic model is based mainly on revenue generated by advertising. This is what just happened to Twitter  (TWTR)  which placed marketing campaigns from vehicle manufacturer Mazda, Dyson and chemicals company Ecolab  (ECL)  alongside tweets soliciting child pornography.\"We're horrified,\" David Maddocks, brand president at shoe maker Cole Haan, told Reuters after the news outlet notified him that the company's ads appeared next to a tweet in which the author said \" trading teen/child.\"More than 30 brands ranging from Walt Disney  (DIS)  to Coca-Cola  (KO)  to NBCUniversal  (CMCSA)  have ads that appear on Twitter account pages with content promoting child pornography, says Reuters who reviewed the findings of a study cybersecurity firm Ghost Data on online child sex abuse.\"Extremely concerning,\" commented Musk, 51, father of nine.It's important to note that the billionaire is currently in a legal battle with Twitter after he abruptly withdrew his offer to acquire the platform for $44 billion.\"We do not tolerate child sexual exploitation on Twitter,\" the company said in its Transparency Reports published last July. \"When we are made aware of child sexual exploitation media, including links to images of or content promoting child exploitation, the material will be removed from the site without further notice and reported to The National Center for Missing & Exploited Children (\"NCMEC\").\"It added that: \"We suspended 596,997 unique accounts during this reporting period – a 32% increase since our previous report.\"The reports covers July-December 2021.New Revelations Underway?Aware of the seriousness of Reuters' revelations, Twitter sent an email to advertisers as a form of damage control before the article was published.In the email, the company said it \"discovered that ads were running within profiles that were involved with publicly selling or soliciting child sexual abuse material.”\"We were able to identify over 500 active Twitter accounts that openly shared or requested child pornography material in a period spanning from September 1st to September 20,\" Ghost Data said in its report that you can read here. \"These 500 accounts produced more than 10,000 tweets, almost half about to trading of illicit material.\"\"These accounts accumulated over 2,000 unique followers. At least several of these followers, even if they do not show any public activities, are likely involved in illicit trade of child porn material,\" the firm added.Twitter suspended only 27.5% of the users that publicly shared child pornography links, material, and references in the first 20 days of September, Ghost Data said.\"To date, still, more than 400 users are active after « the purge. Many of these users have been active for months.\"Andrea Stroppa, one of the researchers behind the study, promised new revelations in the coming days.\"More news soon. Stay tuned $TWTR,\" he wrote on Sept.29.Twitter didn't immediately respond to a request for comment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":312,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9909612986,"gmtCreate":1658874312445,"gmtModify":1676536219019,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9909612986","repostId":"1146864651","repostType":4,"isVote":1,"tweetType":1,"viewCount":495,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9909606799,"gmtCreate":1658870370712,"gmtModify":1676536218344,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9909606799","repostId":"2254875072","repostType":2,"repost":{"id":"2254875072","pubTimestamp":1658868693,"share":"https://ttm.financial/m/news/2254875072?lang=&edition=fundamental","pubTime":"2022-07-27 04:51","market":"us","language":"en","title":"Google Reassures Wall Street With Ad Business Showing Resilience","url":"https://stock-news.laohu8.com/highlight/detail?id=2254875072","media":"Bloomberg","summary":"(Bloomberg) -- Google parent Alphabet Inc. reported second-quarter revenue that met analysts’ expect","content":"<html><body><p>(Bloomberg) -- Google parent Alphabet Inc. reported second-quarter revenue that met analysts’ expectations, reflecting the internet giant’s resilience amid slowing growth in advertising. </p>\n<p>Most Read from Bloomberg</p>\n<ul>\n<li>Who Is Nicole Shanahan, Woman at Center of Musk-Brin Drama?</li>\n<li>Trump Is Plotting to Blow Up the Constitution</li>\n<li>Coinbase Faces SEC Probe on Crypto Listings; Shares Tumble</li>\n<li>EU Nations Back 15% Gas-Cut Target as Russia Reduces Flows</li>\n<li>Shallow Recession Calls Are ‘Totally Delusional,’ Roubini Warns</li>\n</ul>\n<p>Revenue, excluding payments to distribution partners, was $57.47 billion in the quarter, the company said Tuesday in a statement. Analysts had projected $58 billion, according to data compiled by Bloomberg. Shares rose.</p>\n<p>Google’s sales gains indicate the company’s advertising business -- especially its search ads -- may be positioned to weather a crunch in marketing spending, which has affected smaller competitors including <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a>. and Twitter Inc. By contrast, Google’s ad sales beat analysts’ expectations. The company is nevertheless remaining cautious, saying that it temporarily paused hiring.</p>\n<p>The performance reflected “elevated consumer online activity and broad-based strength in advertiser spend,” Chief Financial Officer Ruth Porat said in the statement.</p>\n<p>Google shares rose as much as 4.5% in after-hours trading. The stock has fallen 27.5% so far this year.</p>\n<p>“I would construe this report as a sigh of relief,” said Dan Morgan, a senior portfolio manager at Synovus Trust Company. “I think the fact that ad revenues beat in a very hostile environment has to be a feather in its cap that Google can deliver, even when competitors are really struggling.”</p>\n<p>Search and other related businesses posted second-quarter sales of $40.7 billion. Analysts, on average, estimated $40.3 billion. YouTube generated ad revenue of $7.34 billion, compared with analysts’ average estimate of $7.47 billion. The app is increasingly competing for advertising dollars and attention with Bytedance Ltd.’s TikTok, while managing the effects of Apple’s privacy requirements for its apps, which have made it harder to target advertising. </p>\n<p>Google’s closely watched cloud division, which has yet to turn a profit, generated $6.3 billion in revenue and lost $858 million. Although Google is a distant third in the cloud market, trailing Amazon.com Inc. and Microsoft Corp., the effort is nonetheless viewed as one of the company’s best bets for growth as the core search business matures.</p>\n<p>Google still has a sizeable cash pile, with cash and equivalents of $124.9 billion, according to its second-quarter report. But the company is also battling a number of lawsuits and regulatory threats, including a federal antitrust lawsuit over its dominance of the online advertising market, which is expected to emerge in the coming weeks.</p>\n<p>Earlier this month, Bloomberg News reported that the US Department of Justice was poised to rebuff Google’s offer of splitting off its ads business in a new company under the Alphabet umbrella.</p>\n<p>(Updates with search numbers in the sixth paragraph)</p>\n<p>Most Read from Bloomberg Businessweek</p>\n<ul>\n<li>How a Sextortion Victim Hacked Back and Put Her Attacker in Jail</li>\n<li>Hong Kong’s Fix for China’s Mortgage Boycotts</li>\n<li>The $260 Swatch-Omega MoonSwatch Is Reviving the Budget Brand</li>\n<li>Coinbase Promised Empowerment While Pushing Questionable Assets</li>\n<li>The US Has Lost Its Way on Computer Chips</li>\n</ul>\n<p>©2022 Bloomberg L.P.</p></body></html>","source":"yahoofinance","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>Google Reassures Wall Street With Ad Business Showing Resilience</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\">\nGoogle Reassures Wall Street With Ad Business Showing Resilience\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-27 04:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/google-reassures-wall-street-ad-205133371.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Google parent Alphabet Inc. reported second-quarter revenue that met analysts’ expectations, reflecting the internet giant’s resilience amid slowing growth in advertising. \nMost Read ...</p>\n\n<a href=\"https://finance.yahoo.com/news/google-reassures-wall-street-ad-205133371.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/bv8JEOBJFvGj30mYw_aNdg--~B/aD0xMzMzO3c9MTk5OTthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/uu/api/res/1.2/yJkK6BldkqV8L_6tum0zoA--~B/aD0xMzMzO3c9MTk5OTthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_technology_68/241ee9c6061540c4161e23aa9a829724","relate_stocks":{"BK4191":"家用电器","BK4553":"喜马拉雅资本持仓","BK4507":"流媒体概念","BK4534":"瑞士信贷持仓","BK4576":"AR","BK4532":"文艺复兴科技持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","CRCT":"Cricut, Inc.","BK4007":"制药","BK4566":"资本集团","BK4525":"远程办公概念","HCTI":"Healthcare Triangle, Inc.","BK4524":"宅经济概念","BK4535":"淡马锡持仓","BK4167":"医疗保健技术","BK4538":"云计算","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4077":"互动媒体与服务","BK4579":"人工智能","AMZN":"亚马逊","MSFT":"微软","BK4550":"红杉资本持仓","BK4503":"景林资产持仓","BK4574":"无人驾驶","BK4122":"互联网与直销零售","BK4551":"寇图资本持仓","AAPL":"苹果","BK4573":"虚拟现实","SNAP":"Snap Inc","BK4561":"索罗斯持仓","BK4581":"高盛持仓","BK4209":"餐馆","GOOGL":"谷歌A","BK4183":"个人用品","TERN":"Terns Pharmaceuticals, Inc.","BK4514":"搜索引擎","BK4548":"巴美列捷福持仓","GOOG":"谷歌","FWRG":"First Watch Restaurant Group, Inc.","OLPX":"Olaplex Holdings, Inc.","BK4539":"次新股","BK4554":"元宇宙及AR概念","TWTR":"Twitter"},"source_url":"https://finance.yahoo.com/news/google-reassures-wall-street-ad-205133371.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2254875072","content_text":"(Bloomberg) -- Google parent Alphabet Inc. reported second-quarter revenue that met analysts’ expectations, reflecting the internet giant’s resilience amid slowing growth in advertising. \nMost Read from Bloomberg\n\nWho Is Nicole Shanahan, Woman at Center of Musk-Brin Drama?\nTrump Is Plotting to Blow Up the Constitution\nCoinbase Faces SEC Probe on Crypto Listings; Shares Tumble\nEU Nations Back 15% Gas-Cut Target as Russia Reduces Flows\nShallow Recession Calls Are ‘Totally Delusional,’ Roubini Warns\n\nRevenue, excluding payments to distribution partners, was $57.47 billion in the quarter, the company said Tuesday in a statement. Analysts had projected $58 billion, according to data compiled by Bloomberg. Shares rose.\nGoogle’s sales gains indicate the company’s advertising business -- especially its search ads -- may be positioned to weather a crunch in marketing spending, which has affected smaller competitors including Snap Inc. and Twitter Inc. By contrast, Google’s ad sales beat analysts’ expectations. The company is nevertheless remaining cautious, saying that it temporarily paused hiring.\nThe performance reflected “elevated consumer online activity and broad-based strength in advertiser spend,” Chief Financial Officer Ruth Porat said in the statement.\nGoogle shares rose as much as 4.5% in after-hours trading. The stock has fallen 27.5% so far this year.\n“I would construe this report as a sigh of relief,” said Dan Morgan, a senior portfolio manager at Synovus Trust Company. “I think the fact that ad revenues beat in a very hostile environment has to be a feather in its cap that Google can deliver, even when competitors are really struggling.”\nSearch and other related businesses posted second-quarter sales of $40.7 billion. Analysts, on average, estimated $40.3 billion. YouTube generated ad revenue of $7.34 billion, compared with analysts’ average estimate of $7.47 billion. The app is increasingly competing for advertising dollars and attention with Bytedance Ltd.’s TikTok, while managing the effects of Apple’s privacy requirements for its apps, which have made it harder to target advertising. \nGoogle’s closely watched cloud division, which has yet to turn a profit, generated $6.3 billion in revenue and lost $858 million. Although Google is a distant third in the cloud market, trailing Amazon.com Inc. and Microsoft Corp., the effort is nonetheless viewed as one of the company’s best bets for growth as the core search business matures.\nGoogle still has a sizeable cash pile, with cash and equivalents of $124.9 billion, according to its second-quarter report. But the company is also battling a number of lawsuits and regulatory threats, including a federal antitrust lawsuit over its dominance of the online advertising market, which is expected to emerge in the coming weeks.\nEarlier this month, Bloomberg News reported that the US Department of Justice was poised to rebuff Google’s offer of splitting off its ads business in a new company under the Alphabet umbrella.\n(Updates with search numbers in the sixth paragraph)\nMost Read from Bloomberg Businessweek\n\nHow a Sextortion Victim Hacked Back and Put Her Attacker in Jail\nHong Kong’s Fix for China’s Mortgage Boycotts\nThe $260 Swatch-Omega MoonSwatch Is Reviving the Budget Brand\nCoinbase Promised Empowerment While Pushing Questionable Assets\nThe US Has Lost Its Way on Computer Chips\n\n©2022 Bloomberg L.P.","news_type":1},"isVote":1,"tweetType":1,"viewCount":638,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9077640709,"gmtCreate":1658526466001,"gmtModify":1676536170252,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9077640709","repostId":"2253498728","repostType":4,"repost":{"id":"2253498728","pubTimestamp":1658478385,"share":"https://ttm.financial/m/news/2253498728?lang=&edition=fundamental","pubTime":"2022-07-22 16:26","market":"us","language":"en","title":"The Best Stocks to Invest $50,000 in Right Now","url":"https://stock-news.laohu8.com/highlight/detail?id=2253498728","media":"Motley Fool","summary":"These five stocks look like great long-term values in a bear market.","content":"<html><head></head><body><p>Bear markets are a great time to buy if you&#39;re a long-term investor. With the market punishing stocks indiscriminately, there are deals to be had for those with the patience to wait out elevated volatility. Buying (and holding) during times like 2022 is easier said than done, but the payoff can be substantial once the bear market gives way to the next bull market.</p><p>If you have $50,000 (or another sizable chunk of change to put to work), I think <b>Alphabet</b>, <b>Nvidia</b>, <b>Block</b>, <b>Twilio</b>, and <b>Crocs</b> are compelling stocks to buy right now. Here&#39;s why I&#39;m bullish.</p><h2>Alphabet: A boring name with serious market-beating potential</h2><p>I like big old boring Google parent Alphabet. If you&#39;re looking for a company to start building a portfolio around, Alphabet is about as good as it gets. It&#39;s benefiting from multiple secular growth trends (digital ads, online video content consumption via YouTube, and cloud computing via Google Cloud), so this should be a steady growth story for many years.</p><p>Alphabet is also highly profitable, exactly the type of stock that should rebound quickly from the current bear market. Inflation and interest rates are on the rise, but Google&#39;s profit margins provide plenty of cushion. So does $125 billion in net cash and short-term investments, which Alphabet is using to repurchase shares.</p><p>Working from a position of technological and financial strength also gives Alphabet the ability to invest in things like its Waymo subsidiary. Self-driving cars could reshape the global economy, and Waymo is a leader in this bleeding-edge technology. Trading for just 22 times trailing-12-month free cash flow, Alphabet is a value right now -- especially when considering its long-term potential.</p><h2>Nvidia: The top platform for building AI</h2><p>I believe Nvidia will be the next business to join the trillion-dollar club: that exclusive group of stocks (Alphabet included) with a market cap of at least $1 trillion. Currently valued at $445 billion, the semiconductor giant is already almost halfway there.</p><p>Nvidia&#39;s GPUs, historically the realm of high-end video game PCs, are finding use in data centers creating and running artificial intelligence software. AI is in the early stages of deployment, just now reaching that convergence of usefulness and affordability that makes it compelling for industries of all sorts. Building on its lead here, Nvidia has launched new chip types outside of GPUs to address other parts of the modern business data center.</p><p>If its impressive hardware weren&#39;t enough, Nvidia is also early on in developing a cloud-based software business too. AI software won&#39;t only help Nvidia sustain its growth momentum but could also lift profit margins higher as well. This is a premium-priced stock at 57 times trailing 12-month free cash flow, but this is a great company to buy and hold for the next decade if you&#39;re looking for a way to bet on the AI industry.</p><h2>Block: A depressed fintech name with international potential</h2><p>Block (formerly Square) was a high-flying financial technology leader just a year ago. Now, it trades for just over seven times enterprise value (just over $35 billion as of this writing) to trailing-12-month gross profit ($4.75 billion). The market is feeling particularly ho-hum on Block.</p><p>The punishment isn&#39;t completely unwarranted. Block is trying to develop the <b>Bitcoin </b>blockchain network, and it isn&#39;t clear if Bitcoin will ever have a future as a means of enabling transactions on the internet. It also paid a pretty penny for buy-now-pay-later company Afterpay early this year, and it will take time to see if the combined fintechs are worth more together than they would have been on their own.</p><p>Personally, though, I like Block&#39;s plan of attack with Afterpay. Block needs a way to connect its Square merchant services ecosystem with the more consumer-facing Cash App. Afterpay could act as the rails between the two and create a truly two-sided network that keeps merchants and individuals highly engaged -- and makes Block more profitable over time. And at 39 times trailing-12-month free cash flow, Block&#39;s growth potential looks severely underappreciated right now.</p><h2>Twilio: Communications head for the cloud</h2><p>The pandemic accelerated large organizations&#39; migration to the cloud, which was especially apparent with cloud-based communications tools. <b>Zoom Video Communications </b>got all the early attention, but Twilio has been the more enduring growth story as Zoom&#39;s expansion has decelerated.</p><p>Twilio&#39;s secret is it has a wide range of tools available for businesses to integrate into their operations -- from text and email to website chatbots to internet-based phone and video calling. Twilio&#39;s latest efforts have been to add customer data analytics to its platform, helping businesses understand when and how to stay in touch with customers.</p><p>Twilio thinks it can sustain about a 30% organic growth rate (which excludes acquisitions) for the foreseeable future. The only problem is that Twilio hasn&#39;t generated a profit yet. This is partially by design as the company spends heavily to maximize its rate of expansion, but a rising interest rate environment doesn&#39;t look favorably on stocks like this.</p><p>Nevertheless, Twilio expects to generate adjusted operating profit by 2023 and currently trades for a meager 3.6 times enterprise value to trailing-12-month revenue. If the business continues to grow at a rapid pace and reaches profitability next year, there is a lot of upside here.</p><h2>Crocs: Get a top-trending brand among young generations for a steal</h2><p>To mix up the tech-heavy stock list above, I also really like Crocs stock right now. Yes, Crocs, the maker of the goofy foam clogs. Whether or not you like them, this is a popular brand among young people. Crocs ranked in the top 10 shoe brands among Generation Z (early 20-somethings), according to <b>Piper Sandler</b>&#39;s &#34;Taking Stock With Teens&#34; Spring 2022 report. And seemingly out of nowhere came Hey Dude, also now a Top 10 shoe brand among teens according to Piper Sandler&#39;s report. Hey Dude is the casual shoe brand Crocs just acquired.</p><p>Crocs&#39; comfy kicks are growing fast (sales have more than doubled over the last three years), but the stock has been beaten down some 55% so far in 2022. Inflation is hurting profits in the short term, and Crocs had to take on significant debt to purchase Hey Dude. The company reported nearly $2.9 billion in debt at the end of the first quarter.</p><p>But if Crocs can maintain its shoe industry-best operating profit margin and keep growing, this stock is a deep value. It trades for just 5.97 times current year expected earnings. If you&#39;re looking for a bet on a resilient consumer, Crocs could create lots of rewards for the present risks right now. I&#39;m a buyer.</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>The Best Stocks to Invest $50,000 in 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\">\nThe Best Stocks to Invest $50,000 in Right Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-22 16:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/07/21/the-best-stocks-to-invest-50000-in-right-now/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bear markets are a great time to buy if you're a long-term investor. With the market punishing stocks indiscriminately, there are deals to be had for those with the patience to wait out elevated ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/07/21/the-best-stocks-to-invest-50000-in-right-now/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CROX":"卡骆驰","NVDA":"英伟达","GOOGL":"谷歌A","SQ":"Block","GOOG":"谷歌","TWLO":"Twilio Inc"},"source_url":"https://www.fool.com/investing/2022/07/21/the-best-stocks-to-invest-50000-in-right-now/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2253498728","content_text":"Bear markets are a great time to buy if you're a long-term investor. With the market punishing stocks indiscriminately, there are deals to be had for those with the patience to wait out elevated volatility. Buying (and holding) during times like 2022 is easier said than done, but the payoff can be substantial once the bear market gives way to the next bull market.If you have $50,000 (or another sizable chunk of change to put to work), I think Alphabet, Nvidia, Block, Twilio, and Crocs are compelling stocks to buy right now. Here's why I'm bullish.Alphabet: A boring name with serious market-beating potentialI like big old boring Google parent Alphabet. If you're looking for a company to start building a portfolio around, Alphabet is about as good as it gets. It's benefiting from multiple secular growth trends (digital ads, online video content consumption via YouTube, and cloud computing via Google Cloud), so this should be a steady growth story for many years.Alphabet is also highly profitable, exactly the type of stock that should rebound quickly from the current bear market. Inflation and interest rates are on the rise, but Google's profit margins provide plenty of cushion. So does $125 billion in net cash and short-term investments, which Alphabet is using to repurchase shares.Working from a position of technological and financial strength also gives Alphabet the ability to invest in things like its Waymo subsidiary. Self-driving cars could reshape the global economy, and Waymo is a leader in this bleeding-edge technology. Trading for just 22 times trailing-12-month free cash flow, Alphabet is a value right now -- especially when considering its long-term potential.Nvidia: The top platform for building AII believe Nvidia will be the next business to join the trillion-dollar club: that exclusive group of stocks (Alphabet included) with a market cap of at least $1 trillion. Currently valued at $445 billion, the semiconductor giant is already almost halfway there.Nvidia's GPUs, historically the realm of high-end video game PCs, are finding use in data centers creating and running artificial intelligence software. AI is in the early stages of deployment, just now reaching that convergence of usefulness and affordability that makes it compelling for industries of all sorts. Building on its lead here, Nvidia has launched new chip types outside of GPUs to address other parts of the modern business data center.If its impressive hardware weren't enough, Nvidia is also early on in developing a cloud-based software business too. AI software won't only help Nvidia sustain its growth momentum but could also lift profit margins higher as well. This is a premium-priced stock at 57 times trailing 12-month free cash flow, but this is a great company to buy and hold for the next decade if you're looking for a way to bet on the AI industry.Block: A depressed fintech name with international potentialBlock (formerly Square) was a high-flying financial technology leader just a year ago. Now, it trades for just over seven times enterprise value (just over $35 billion as of this writing) to trailing-12-month gross profit ($4.75 billion). The market is feeling particularly ho-hum on Block.The punishment isn't completely unwarranted. Block is trying to develop the Bitcoin blockchain network, and it isn't clear if Bitcoin will ever have a future as a means of enabling transactions on the internet. It also paid a pretty penny for buy-now-pay-later company Afterpay early this year, and it will take time to see if the combined fintechs are worth more together than they would have been on their own.Personally, though, I like Block's plan of attack with Afterpay. Block needs a way to connect its Square merchant services ecosystem with the more consumer-facing Cash App. Afterpay could act as the rails between the two and create a truly two-sided network that keeps merchants and individuals highly engaged -- and makes Block more profitable over time. And at 39 times trailing-12-month free cash flow, Block's growth potential looks severely underappreciated right now.Twilio: Communications head for the cloudThe pandemic accelerated large organizations' migration to the cloud, which was especially apparent with cloud-based communications tools. Zoom Video Communications got all the early attention, but Twilio has been the more enduring growth story as Zoom's expansion has decelerated.Twilio's secret is it has a wide range of tools available for businesses to integrate into their operations -- from text and email to website chatbots to internet-based phone and video calling. Twilio's latest efforts have been to add customer data analytics to its platform, helping businesses understand when and how to stay in touch with customers.Twilio thinks it can sustain about a 30% organic growth rate (which excludes acquisitions) for the foreseeable future. The only problem is that Twilio hasn't generated a profit yet. This is partially by design as the company spends heavily to maximize its rate of expansion, but a rising interest rate environment doesn't look favorably on stocks like this.Nevertheless, Twilio expects to generate adjusted operating profit by 2023 and currently trades for a meager 3.6 times enterprise value to trailing-12-month revenue. If the business continues to grow at a rapid pace and reaches profitability next year, there is a lot of upside here.Crocs: Get a top-trending brand among young generations for a stealTo mix up the tech-heavy stock list above, I also really like Crocs stock right now. Yes, Crocs, the maker of the goofy foam clogs. Whether or not you like them, this is a popular brand among young people. Crocs ranked in the top 10 shoe brands among Generation Z (early 20-somethings), according to Piper Sandler's \"Taking Stock With Teens\" Spring 2022 report. And seemingly out of nowhere came Hey Dude, also now a Top 10 shoe brand among teens according to Piper Sandler's report. Hey Dude is the casual shoe brand Crocs just acquired.Crocs' comfy kicks are growing fast (sales have more than doubled over the last three years), but the stock has been beaten down some 55% so far in 2022. Inflation is hurting profits in the short term, and Crocs had to take on significant debt to purchase Hey Dude. The company reported nearly $2.9 billion in debt at the end of the first quarter.But if Crocs can maintain its shoe industry-best operating profit margin and keep growing, this stock is a deep value. It trades for just 5.97 times current year expected earnings. If you're looking for a bet on a resilient consumer, Crocs could create lots of rewards for the present risks right now. I'm a buyer.","news_type":1},"isVote":1,"tweetType":1,"viewCount":345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9077640422,"gmtCreate":1658526430766,"gmtModify":1676536170243,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9077640422","repostId":"2253825034","repostType":4,"repost":{"id":"2253825034","pubTimestamp":1658492942,"share":"https://ttm.financial/m/news/2253825034?lang=&edition=fundamental","pubTime":"2022-07-22 20:29","market":"us","language":"en","title":"Sea Limited: Cautious Approach Into Upcoming Earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=2253825034","media":"Seekingalpha","summary":"SummarySea Limited reported a strong start to the year with Q1 revenue and adjusted EBITDA losses co","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Sea Limited reported a strong start to the year with Q1 revenue and adjusted EBITDA losses coming in ahead of expectations.</li><li>Challenging macro environment caused management to reduce their E-Commerce segment revenue guidance.</li><li>The macro environment continues to remain challenged, especially in the Asia-Pacific region where Sea Limited has significant exposure.</li><li>Investors should use some caution heading into Q2 earnings given the ongoing challenging macro environment including high inflation causing potential slowdown in consumer spending.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1aba4b262e32def27011fb88083553dc\" tg-width=\"1080\" tg-height=\"900\" width=\"100%\" height=\"auto\"/><span>SIphotography/iStock via Getty Images</span></p><p>Sea Limited (NYSE:SE) has seen its stock be pushed down over 60% so far this year as investors quickly rotated out of risky assets. Driven by higher interest rates and fears around a possible recession, among other factors, themarket has not been kind to fast-growth companies that currently fail to show profitability metrics.</p><p>While I do believe there remains a lot of optimism around the company&#39;s long-term outlook, investors should be a little cautious heading into the Q2 earnings report next month.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1e7583d3fb156c8af9b4075626de4226\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>Just last quarter,management called out a slowdown in its user engagement within the Digital Entertainment segment as well as challenging E-Commerce segment revenue comparisons.</p><p>Higher interest rates seen around the world combined with fears around a potential recession may cause consumers to shift the spending habits to be more conservative, thus potentially placing more pressure on spending trends.</p><p>In addition, in Q1 the company lowered their guidance for E-Commerce revenue, calling out a challenging macro environment in Asia-Pacific. Since the company reported earnings, not a lot has changed in the macro environment that would make investors more positive into the quarter.</p><p>Plus, valuation still remains somewhat expensive at over 3x 2022 revenue and over 2x 2023 revenue. Compared to other software companies, valuation is not expensive. However, Sea Limited&#39;s revenue streams are not as recurring as software revenue and the company continues to hemorrhage money each quarter.</p><p>For now, I believe investors should use more caution heading into Q2 earnings, though I continue to believe the long-term outlook for the company remains positive once we move past the current challenging economic conditions.</p><p><b>Brief Financial Review</b></p><p>Back in mid-May, the company reported revenue growth of 64% yoy to $2.9 billion, which beat consensus estimates by $40 million. Though there still remains a lot of runway left in profitability, gross margins improved to 40.4% (from 36.6% in the year-ago period) and adjusted EBITDA loss was $510 million, though beat expectations for a near $600 million loss.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e5572514625d6265a9f9b1c7f7e7e774\" tg-width=\"555\" tg-height=\"531\" width=\"100%\" height=\"auto\"/><span>Sea Limited</span></p><p><b>Cautious Into Upcoming Earnings</b></p><p>With the company reporting earrings next month, I believe investors should remain cautious heading into the print. With the company already having acknowledging a slowdown in user engagement and E-Commerce segment revenue trends facing difficult comparisons, the company may start to report more normalized growth trends, which could disappoint</p><p>During Q1, Digital Entertainment segment revenue grew 45% yoy,management acknowledged a slowdown in user engagement as quarterly active users declined 5% yoy and quarterly paying were declined 23% yoy.</p><blockquote><i>While Garena experienced headwinds in its growth post-COVID, we saw some preliminary positive effects from our efforts to improve user engagement in Free Fire. In particular, the monthly user trends for Free Fire began to show some early signs of stabilizing toward the end of the first quarter. While this is encouraging, the longer-term impact of reopening around Free Fire remains to be seen and we will continue to focus on user engagement and user base stabilization.</i></blockquote><p>User engagement trends can move around quarter to quarter, though with the company already acknowledging a potential, there appears to be some underlying risk that user engagement remains weak.</p><p>And while this is not a perfect correlation,The NPD Group is projecting video game spending to decline 9% yoy during 2022. Yes, this chart only analyzes the US video game market, though global video game trends tend to move in similar patterns, thus potential weakness in the US may be seen elsewhere in the world.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f31ce0e699f5a917f6014ed2d9ef025e\" tg-width=\"640\" tg-height=\"318\" width=\"100%\" height=\"auto\"/><span>The NPD Group</span></p><blockquote>Some of the drivers of the decline include the return of experiential spending, higher prices in everyday spending categories such as food and fuel, the uncertain supply of video game console hardware and certain accessories such as gamepads, and a lighter release slate of games, among others.</blockquote><blockquote>The surge in video game players and engagement the market experienced during 2020 and 2021 has leveled off, and we are now seeing more entertainment opportunities emerge that compete for consumer attention and, of course, dollars.</blockquote><blockquote>In hardware, the video game console market has yet to reflect normalized demand given ongoing supply constraints, particularly on new generation systems such as the PlayStation 5 and the Xbox Series X. This is not likely to change throughout 2022 and will lead to continued uncertainty for the market.</blockquote><p>Higher inflation has been an issue throughout the world and with the cost of everyday items going up, consumers may be spending less time and money on their mobile/video games.</p><p>On top of the potential slowdown in the Digital Entertainment segment, E-Commerce segment is starting to face more difficult comparisons, thus we could see a slowdown in growth.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2dd835de41764a6feba365420ce15cbd\" tg-width=\"389\" tg-height=\"475\" width=\"100%\" height=\"auto\"/><span>Sea Limited</span></p><p>The chart above does a good job depicting the significant sequential growth patterns seen in the E-Commerce segment, and the yoy trends clearly benefited from the pandemic with consumers shifting their spend to online channels.</p><p>Back in Q1-2021, E-Commerce segment revenue growth was 250% yoy, Q2-2021 was 161% yoy, Q3-2021 was 134% yoy, Q4-2021 was 89% yoy, and this past quarter was 64% yoy. These trends show that the comparison from the year ago period is still very challenging.</p><p>On top of that, consumers are faced with high inflationary pressures across most retail categories. Combined with the fears of a potential recession, consumers may start to pull back on their discretionary spending patterns, thus further putting downward pressure on the E-Commerce growth rate.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7f436034c7518aa1af1fbb5daab46bfb\" tg-width=\"640\" tg-height=\"156\" width=\"100%\" height=\"auto\"/><span>Sea Limited</span></p><p>After reporting Q1, the company also downward revised their E-Commerce revenue expectations, now expecting revenue of $8.5-9.1 billion, down from the prior guidance of $8.9-9.1 billion. While the top-end of the guidance range was reiterated, the wider and lower range takes into account the uncertainties around the global macro-environment, specifically around the Asia-Pacific region.</p><p>Since the company reported earnings in mid-May, the macro-environment has certainly not improved, with interest rates continuing to rise, inflation reaching record levels around the world, and the Asia-Pacific region remained constrained by COVID-restrictions.</p><p>Given all of these moving parts, it would not be shocking to see the company lower their E-Commerce segment revenue guidance again, which I believe would push the stock even lower and cause negative sentiment to persist.</p><p><b>Valuation</b></p><p>With the stock remaining down over 60% so far this year, the stock has actually been up almost 5% since the company reported Q1 earnings. I believe part of this positive performance was related to the company posting better profitability than expected and some optimism around recovery.</p><p>However, I believe there remains a lot of negative macro impacts that can cause the stock to be weak. If they were to miss E-Commerce revenue expectations or make additional commentary around user engagement slowing down, investors may be quick to sell the news.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c312ca9da70e61d3e90011d296f739a8\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>The stock has a current market cap of ~$46.7 billion and net cash of ~$8.5 billion, resulting in an enterprise value of ~$38.2 billion.</p><p>Since the company reported Q1 earnings in mid-May, consensus estimates for 2023 revenue has moved down from $18 billion to $17 billion, largely resulting from the company noting potentially lower E-Commerce revenue driven by the challenged macroeconomic environment.</p><p>However, I believe there continues to be downside risk to consensus estimates given the ongoing macro challenges around the world. Factors such as high inflation, difficult E-Commerce comparisons, potential slowdown in video game engagement/spending, and fears around a recession may cause many companies to lower expectations heading into the second half of the year.</p><p>For comparison, if 2022 revenue ends up closer to $12.5 billion, this would imply a 2022 revenue multiple of over 3x. And if growth further decelerates in 2023 and we end up with $16 billion of revenue, then valuation is still over 2x 2023 revenue.</p><p>Yes, this is not an overly expensive multiple to pay, but investors must balance the risk/reward of investing in a fast-growth company that is facing growth deceleration on top of ongoing adjusted EBITDA losses.</p><p>While I am a long-term bull in the company, I do believe we could see some volatility in upcoming months given the difficult macro environment we are currently living in. Caution into the Q2 earnings report is warranted, and if the company is able to execute well, then long-term shareholders will surely be rewarded.</p></body></html>","source":"seekingalpha","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: Cautious Approach Into Upcoming Earnings</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: Cautious Approach Into Upcoming Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-22 20:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4525085-sea-limited-cautious-approach-upcoming-earnings><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummarySea Limited reported a strong start to the year with Q1 revenue and adjusted EBITDA losses coming in ahead of expectations.Challenging macro environment caused management to reduce their E-...</p>\n\n<a href=\"https://seekingalpha.com/article/4525085-sea-limited-cautious-approach-upcoming-earnings\">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/4525085-sea-limited-cautious-approach-upcoming-earnings","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2253825034","content_text":"SummarySea Limited reported a strong start to the year with Q1 revenue and adjusted EBITDA losses coming in ahead of expectations.Challenging macro environment caused management to reduce their E-Commerce segment revenue guidance.The macro environment continues to remain challenged, especially in the Asia-Pacific region where Sea Limited has significant exposure.Investors should use some caution heading into Q2 earnings given the ongoing challenging macro environment including high inflation causing potential slowdown in consumer spending.SIphotography/iStock via Getty ImagesSea Limited (NYSE:SE) has seen its stock be pushed down over 60% so far this year as investors quickly rotated out of risky assets. Driven by higher interest rates and fears around a possible recession, among other factors, themarket has not been kind to fast-growth companies that currently fail to show profitability metrics.While I do believe there remains a lot of optimism around the company's long-term outlook, investors should be a little cautious heading into the Q2 earnings report next month.Data by YChartsJust last quarter,management called out a slowdown in its user engagement within the Digital Entertainment segment as well as challenging E-Commerce segment revenue comparisons.Higher interest rates seen around the world combined with fears around a potential recession may cause consumers to shift the spending habits to be more conservative, thus potentially placing more pressure on spending trends.In addition, in Q1 the company lowered their guidance for E-Commerce revenue, calling out a challenging macro environment in Asia-Pacific. Since the company reported earnings, not a lot has changed in the macro environment that would make investors more positive into the quarter.Plus, valuation still remains somewhat expensive at over 3x 2022 revenue and over 2x 2023 revenue. Compared to other software companies, valuation is not expensive. However, Sea Limited's revenue streams are not as recurring as software revenue and the company continues to hemorrhage money each quarter.For now, I believe investors should use more caution heading into Q2 earnings, though I continue to believe the long-term outlook for the company remains positive once we move past the current challenging economic conditions.Brief Financial ReviewBack in mid-May, the company reported revenue growth of 64% yoy to $2.9 billion, which beat consensus estimates by $40 million. Though there still remains a lot of runway left in profitability, gross margins improved to 40.4% (from 36.6% in the year-ago period) and adjusted EBITDA loss was $510 million, though beat expectations for a near $600 million loss.Sea LimitedCautious Into Upcoming EarningsWith the company reporting earrings next month, I believe investors should remain cautious heading into the print. With the company already having acknowledging a slowdown in user engagement and E-Commerce segment revenue trends facing difficult comparisons, the company may start to report more normalized growth trends, which could disappointDuring Q1, Digital Entertainment segment revenue grew 45% yoy,management acknowledged a slowdown in user engagement as quarterly active users declined 5% yoy and quarterly paying were declined 23% yoy.While Garena experienced headwinds in its growth post-COVID, we saw some preliminary positive effects from our efforts to improve user engagement in Free Fire. In particular, the monthly user trends for Free Fire began to show some early signs of stabilizing toward the end of the first quarter. While this is encouraging, the longer-term impact of reopening around Free Fire remains to be seen and we will continue to focus on user engagement and user base stabilization.User engagement trends can move around quarter to quarter, though with the company already acknowledging a potential, there appears to be some underlying risk that user engagement remains weak.And while this is not a perfect correlation,The NPD Group is projecting video game spending to decline 9% yoy during 2022. Yes, this chart only analyzes the US video game market, though global video game trends tend to move in similar patterns, thus potential weakness in the US may be seen elsewhere in the world.The NPD GroupSome of the drivers of the decline include the return of experiential spending, higher prices in everyday spending categories such as food and fuel, the uncertain supply of video game console hardware and certain accessories such as gamepads, and a lighter release slate of games, among others.The surge in video game players and engagement the market experienced during 2020 and 2021 has leveled off, and we are now seeing more entertainment opportunities emerge that compete for consumer attention and, of course, dollars.In hardware, the video game console market has yet to reflect normalized demand given ongoing supply constraints, particularly on new generation systems such as the PlayStation 5 and the Xbox Series X. This is not likely to change throughout 2022 and will lead to continued uncertainty for the market.Higher inflation has been an issue throughout the world and with the cost of everyday items going up, consumers may be spending less time and money on their mobile/video games.On top of the potential slowdown in the Digital Entertainment segment, E-Commerce segment is starting to face more difficult comparisons, thus we could see a slowdown in growth.Sea LimitedThe chart above does a good job depicting the significant sequential growth patterns seen in the E-Commerce segment, and the yoy trends clearly benefited from the pandemic with consumers shifting their spend to online channels.Back in Q1-2021, E-Commerce segment revenue growth was 250% yoy, Q2-2021 was 161% yoy, Q3-2021 was 134% yoy, Q4-2021 was 89% yoy, and this past quarter was 64% yoy. These trends show that the comparison from the year ago period is still very challenging.On top of that, consumers are faced with high inflationary pressures across most retail categories. Combined with the fears of a potential recession, consumers may start to pull back on their discretionary spending patterns, thus further putting downward pressure on the E-Commerce growth rate.Sea LimitedAfter reporting Q1, the company also downward revised their E-Commerce revenue expectations, now expecting revenue of $8.5-9.1 billion, down from the prior guidance of $8.9-9.1 billion. While the top-end of the guidance range was reiterated, the wider and lower range takes into account the uncertainties around the global macro-environment, specifically around the Asia-Pacific region.Since the company reported earnings in mid-May, the macro-environment has certainly not improved, with interest rates continuing to rise, inflation reaching record levels around the world, and the Asia-Pacific region remained constrained by COVID-restrictions.Given all of these moving parts, it would not be shocking to see the company lower their E-Commerce segment revenue guidance again, which I believe would push the stock even lower and cause negative sentiment to persist.ValuationWith the stock remaining down over 60% so far this year, the stock has actually been up almost 5% since the company reported Q1 earnings. I believe part of this positive performance was related to the company posting better profitability than expected and some optimism around recovery.However, I believe there remains a lot of negative macro impacts that can cause the stock to be weak. If they were to miss E-Commerce revenue expectations or make additional commentary around user engagement slowing down, investors may be quick to sell the news.Data by YChartsThe stock has a current market cap of ~$46.7 billion and net cash of ~$8.5 billion, resulting in an enterprise value of ~$38.2 billion.Since the company reported Q1 earnings in mid-May, consensus estimates for 2023 revenue has moved down from $18 billion to $17 billion, largely resulting from the company noting potentially lower E-Commerce revenue driven by the challenged macroeconomic environment.However, I believe there continues to be downside risk to consensus estimates given the ongoing macro challenges around the world. Factors such as high inflation, difficult E-Commerce comparisons, potential slowdown in video game engagement/spending, and fears around a recession may cause many companies to lower expectations heading into the second half of the year.For comparison, if 2022 revenue ends up closer to $12.5 billion, this would imply a 2022 revenue multiple of over 3x. And if growth further decelerates in 2023 and we end up with $16 billion of revenue, then valuation is still over 2x 2023 revenue.Yes, this is not an overly expensive multiple to pay, but investors must balance the risk/reward of investing in a fast-growth company that is facing growth deceleration on top of ongoing adjusted EBITDA losses.While I am a long-term bull in the company, I do believe we could see some volatility in upcoming months given the difficult macro environment we are currently living in. Caution into the Q2 earnings report is warranted, and if the company is able to execute well, then long-term shareholders will surely be rewarded.","news_type":1},"isVote":1,"tweetType":1,"viewCount":553,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9075763507,"gmtCreate":1658270500309,"gmtModify":1676536129676,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9075763507","repostId":"1128013391","repostType":4,"repost":{"id":"1128013391","pubTimestamp":1658240028,"share":"https://ttm.financial/m/news/1128013391?lang=&edition=fundamental","pubTime":"2022-07-19 22:13","market":"hk","language":"en","title":"Alibaba: The Dragon Is Set To Awake Soon","url":"https://stock-news.laohu8.com/highlight/detail?id=1128013391","media":"seekingalpha","summary":"SummaryAlibaba was handed new regulatory fines for disclosure violations last week, reminding invest","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Alibaba was handed new regulatory fines for disclosure violations last week, reminding investors that regulatory risks have not disappeared from the landscape.</li><li>After the announcement of new fines, shares of Alibaba plunged 15%.</li><li>However, Alibaba&#39;s e-Commerce performance going forward may be better than expected as COVID-19 lockdowns get gradually lifted.</li><li>Certain segments in Alibaba’s domestic e-Commerce business, like direct sales and wholesale, are still seeing growth momentum.</li><li>Alibaba remains massively undervalued based on the growth prospects in China&#39;s e-Commerce market.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/77b887b51b51f300ef64a42a227dcdff\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"/><span>Andrew Burton</span></p><p>It is difficult to make the case for investing in Alibaba (NYSE:BABA) given the headlines of the last year or so: Government crackdowns and a slowing e-Commerce business have driven shares of Alibaba into a long-term down-trend. Justlast week, Alibaba and Tencent (OTCPK:TCEHY) were fined for violations of disclosure regulations by China’s anti-monopoly agency which drove a new sell-off in shares of Chinese tech companies.</p><p>I last analysed Alibaba in May. I added to my pile of Alibaba’s shares, however, and expect the e-Commerce company to submit a strong earnings card for FQ1’23 in August.</p><p><b>New round of fines for large Chinese tech companies</b></p><p>Last week, China’s anti-trust regulators reminded investors once again that Chinese companies remain in their cross hairs when they fined Alibaba and Tencent for violations of disclosure rules. The State Administration for Market Regulation/SAMR, which is China’s anti-monopoly agency tasked with overseeing mergers and acquisition deals, said that 28 deals violated its disclosure rules, including five from Alibaba, 12 from Tencent and 4 from Didi Global (OTCPK:DIDIY). Fines for reported disclosure violations were 500,000 yuan (US$74,600) per case which is the maximum amount the State Administration for Market regulation can impose. Alibaba was also fined for its investment in Youku Tudou, a video streaming platform into which Alibaba invested $1.2B back in 2014. After the transaction, Youku Tudou became a subsidiary of Alibaba Group Holding Limited.</p><p>After new fines on Chinese tech companies were disclosed to the public, shares of the affected companies plunged with Alibaba crashing the most. This sell-off creates a new buying opportunity for investors that like to focus more on the fundamentals of the businesses in question instead of the latest regulatory actions.</p><p><img src=\"https://static.tigerbbs.com/5bf26bb44feeb3e1ae51093c8b212e44\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/></p><p>While the absolute USD amount of the imposed fines is negligible, it shows that the anti-monopoly agency continues to review Alibaba’s past acquisitions and new fines remain a risk going forward. However, the new down-leg in Alibaba’s shares creates a new opportunity to buy Alibaba as the company will soon report earnings for its first fiscal quarter in FY 2023.</p><p>Alibaba will submit its earnings card for FQ1’23 in August and the company could do better than expected. This is because earnings expectations are very, very low which creates a low bar for Alibaba. Earnings estimates have been lowered seven times in the last 90 days and the market currently only expects $1.57 in EPS, implying a 39% year over year decline.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9859ed387dc93ce5ea3521788e84f556\" tg-width=\"640\" tg-height=\"234\" referrerpolicy=\"no-referrer\"/><span>Seeking Alpha</span></p><p><b>Why Alibaba&#39;s Commerce performance may be set to improve</b></p><p>China’s economic activity has slowed down in the first half of the year, largely because of new COVID-19 lockdowns that suppressed commerce. Strict lockdown measures greatly affected the economy: it grew at only 2.5% in the first six months of the year which is a weak growth rate for a country that until the pandemic grew at rates of about 6% annually.</p><p>I believe, however, as the Chinese economy emerges from its lockdown state, that Alibaba’s overall financial performance is set to improve. While the slowdown in the economy will take time to gain momentum, stronger economic growth and an improving outlook for consumer spending could drive Alibaba’s e-Commerce results going forward.</p><p>While COVID-19 lockdowns hurt China’s economic performance in the short term, and Alibaba’s sales, the long term outlook for China’s e-Commerce market is extremely positive: China&#39;s retail e-Commerce sales are expected to more than double from FY 2019 levels to $3.8T by FY 2025.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de51cc71edd3017cc209bc885f2f57d7\" tg-width=\"1280\" tg-height=\"1329\" referrerpolicy=\"no-referrer\"/><span>eMarketer</span></p><p>E-Commerce sales in China contribute 69% of Alibaba’s total sales, so no market is more important to Alibaba&#39;s growth prospects than China. Alibaba has seen a serious slowdown in e-Commerce growth rates in the last quarter --- Alibaba&#39;s domestic and international e-Commerce businesses saw only 8% and 7% year over year revenue growth -- but this trend could reverse in the second half of the year if China gets a grip on its COVID-19 situation and releases large city populations in Beijing and Shanghai out of COVID lockdowns.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c1b75138e34865e1c34f0238048d5fb3\" tg-width=\"950\" tg-height=\"381\" referrerpolicy=\"no-referrer\"/><span>Alibaba</span></p><p>But even within the challenged domestic e-Commerce segment, there are bright spots for Alibaba. Direct sales and China’s e-Commerce wholesale business still have momentum and grew their top lines at 14% and 30% year over year in FQ4’21, chiefly because of the roll-out of value-added services and higher revenues from Alibaba-owned business-to-consumer brands like Freshippo and Tmall Supermarket.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc81d5802b7f195078bf311072f6f7d0\" tg-width=\"937\" tg-height=\"262\" referrerpolicy=\"no-referrer\"/><span>Alibaba</span></p><p><b>Alibaba&#39;s valuation got another discount last week</b></p><p>It is hard to argue with Alibaba’s low valuation: the company appears undervalued by every metric in the book, but of course there have been good reasons for that. Because of the recent crackdown on big Chinese companies, valuation ratios for Alibaba have further improved.</p><p>Shares of Alibaba now sell for 11.7 X earnings and 1.8 X sales (FY 2023), indicating that Alibaba remains significantly undervalued given the e-Commerce opportunity in China.</p><p><img src=\"https://static.tigerbbs.com/838ad34a6ddef0058d83ea7f46ee35ec\" tg-width=\"635\" tg-height=\"447\" referrerpolicy=\"no-referrer\"/></p><p><b>Risks with Alibaba</b></p><p>The real risk for Alibaba is represented by the enormous power China&#39;s anti-trust agencies have. While recent fines were not really damaging financially, a new crackdown can always occur. Authorities also have the power to decide what will happen to Alibaba-owned Ant Group, which owns the world’s largest mobile payment platform.</p><p>Regarding commercial risks, I believe a massive new lockdown campaign could set back Alibaba&#39;s recovery as well as the recovery of the Chinese economy. What would change my opinion about Alibaba is if the company were to see a dramatic slowdown in its core businesses or was forced by regulators to sell off company assets.</p><p><b>Final thoughts</b></p><p>The Chinese economy has been weighed down by widespread COVID-19 lockdowns in the first half of 2022 which took a toll on the Chinese economy as well as on Alibaba’s top line growth. New fines imposed on Alibaba last week didn’t help sentiment.</p><p>But as China’s economy emerges from its lockdown state, a powerful economic force could be unleashed that finds its outlet in higher consumer spending and stronger e-Commerce sales for Alibaba. Since earnings estimates have trended down hard in the last couple of months and because predictions for FQ1’23 are low, Alibaba is a buy heading into earnings. I believe the Alibaba dragon will soon awaken from its sleep and shares could be pushed into a new up-leg!</p></body></html>","source":"seekingalpha","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: The Dragon Is Set To Awake Soon</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\">\nAlibaba: The Dragon Is Set To Awake Soon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-19 22:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4524101-alibaba-stock-buy-heading-into-earnings?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAlibaba was handed new regulatory fines for disclosure violations last week, reminding investors that regulatory risks have not disappeared from the landscape.After the announcement of new ...</p>\n\n<a href=\"https://seekingalpha.com/article/4524101-alibaba-stock-buy-heading-into-earnings?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2\">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-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4524101-alibaba-stock-buy-heading-into-earnings?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1128013391","content_text":"SummaryAlibaba was handed new regulatory fines for disclosure violations last week, reminding investors that regulatory risks have not disappeared from the landscape.After the announcement of new fines, shares of Alibaba plunged 15%.However, Alibaba's e-Commerce performance going forward may be better than expected as COVID-19 lockdowns get gradually lifted.Certain segments in Alibaba’s domestic e-Commerce business, like direct sales and wholesale, are still seeing growth momentum.Alibaba remains massively undervalued based on the growth prospects in China's e-Commerce market.Andrew BurtonIt is difficult to make the case for investing in Alibaba (NYSE:BABA) given the headlines of the last year or so: Government crackdowns and a slowing e-Commerce business have driven shares of Alibaba into a long-term down-trend. Justlast week, Alibaba and Tencent (OTCPK:TCEHY) were fined for violations of disclosure regulations by China’s anti-monopoly agency which drove a new sell-off in shares of Chinese tech companies.I last analysed Alibaba in May. I added to my pile of Alibaba’s shares, however, and expect the e-Commerce company to submit a strong earnings card for FQ1’23 in August.New round of fines for large Chinese tech companiesLast week, China’s anti-trust regulators reminded investors once again that Chinese companies remain in their cross hairs when they fined Alibaba and Tencent for violations of disclosure rules. The State Administration for Market Regulation/SAMR, which is China’s anti-monopoly agency tasked with overseeing mergers and acquisition deals, said that 28 deals violated its disclosure rules, including five from Alibaba, 12 from Tencent and 4 from Didi Global (OTCPK:DIDIY). Fines for reported disclosure violations were 500,000 yuan (US$74,600) per case which is the maximum amount the State Administration for Market regulation can impose. Alibaba was also fined for its investment in Youku Tudou, a video streaming platform into which Alibaba invested $1.2B back in 2014. After the transaction, Youku Tudou became a subsidiary of Alibaba Group Holding Limited.After new fines on Chinese tech companies were disclosed to the public, shares of the affected companies plunged with Alibaba crashing the most. This sell-off creates a new buying opportunity for investors that like to focus more on the fundamentals of the businesses in question instead of the latest regulatory actions.While the absolute USD amount of the imposed fines is negligible, it shows that the anti-monopoly agency continues to review Alibaba’s past acquisitions and new fines remain a risk going forward. However, the new down-leg in Alibaba’s shares creates a new opportunity to buy Alibaba as the company will soon report earnings for its first fiscal quarter in FY 2023.Alibaba will submit its earnings card for FQ1’23 in August and the company could do better than expected. This is because earnings expectations are very, very low which creates a low bar for Alibaba. Earnings estimates have been lowered seven times in the last 90 days and the market currently only expects $1.57 in EPS, implying a 39% year over year decline.Seeking AlphaWhy Alibaba's Commerce performance may be set to improveChina’s economic activity has slowed down in the first half of the year, largely because of new COVID-19 lockdowns that suppressed commerce. Strict lockdown measures greatly affected the economy: it grew at only 2.5% in the first six months of the year which is a weak growth rate for a country that until the pandemic grew at rates of about 6% annually.I believe, however, as the Chinese economy emerges from its lockdown state, that Alibaba’s overall financial performance is set to improve. While the slowdown in the economy will take time to gain momentum, stronger economic growth and an improving outlook for consumer spending could drive Alibaba’s e-Commerce results going forward.While COVID-19 lockdowns hurt China’s economic performance in the short term, and Alibaba’s sales, the long term outlook for China’s e-Commerce market is extremely positive: China's retail e-Commerce sales are expected to more than double from FY 2019 levels to $3.8T by FY 2025.eMarketerE-Commerce sales in China contribute 69% of Alibaba’s total sales, so no market is more important to Alibaba's growth prospects than China. Alibaba has seen a serious slowdown in e-Commerce growth rates in the last quarter --- Alibaba's domestic and international e-Commerce businesses saw only 8% and 7% year over year revenue growth -- but this trend could reverse in the second half of the year if China gets a grip on its COVID-19 situation and releases large city populations in Beijing and Shanghai out of COVID lockdowns.AlibabaBut even within the challenged domestic e-Commerce segment, there are bright spots for Alibaba. Direct sales and China’s e-Commerce wholesale business still have momentum and grew their top lines at 14% and 30% year over year in FQ4’21, chiefly because of the roll-out of value-added services and higher revenues from Alibaba-owned business-to-consumer brands like Freshippo and Tmall Supermarket.AlibabaAlibaba's valuation got another discount last weekIt is hard to argue with Alibaba’s low valuation: the company appears undervalued by every metric in the book, but of course there have been good reasons for that. Because of the recent crackdown on big Chinese companies, valuation ratios for Alibaba have further improved.Shares of Alibaba now sell for 11.7 X earnings and 1.8 X sales (FY 2023), indicating that Alibaba remains significantly undervalued given the e-Commerce opportunity in China.Risks with AlibabaThe real risk for Alibaba is represented by the enormous power China's anti-trust agencies have. While recent fines were not really damaging financially, a new crackdown can always occur. Authorities also have the power to decide what will happen to Alibaba-owned Ant Group, which owns the world’s largest mobile payment platform.Regarding commercial risks, I believe a massive new lockdown campaign could set back Alibaba's recovery as well as the recovery of the Chinese economy. What would change my opinion about Alibaba is if the company were to see a dramatic slowdown in its core businesses or was forced by regulators to sell off company assets.Final thoughtsThe Chinese economy has been weighed down by widespread COVID-19 lockdowns in the first half of 2022 which took a toll on the Chinese economy as well as on Alibaba’s top line growth. New fines imposed on Alibaba last week didn’t help sentiment.But as China’s economy emerges from its lockdown state, a powerful economic force could be unleashed that finds its outlet in higher consumer spending and stronger e-Commerce sales for Alibaba. Since earnings estimates have trended down hard in the last couple of months and because predictions for FQ1’23 are low, Alibaba is a buy heading into earnings. I believe the Alibaba dragon will soon awaken from its sleep and shares could be pushed into a new up-leg!","news_type":1},"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9075165900,"gmtCreate":1658179017500,"gmtModify":1676536115141,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9075165900","repostId":"2252476857","repostType":4,"isVote":1,"tweetType":1,"viewCount":502,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9072466121,"gmtCreate":1658097473263,"gmtModify":1676536102655,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9072466121","repostId":"2249540083","repostType":4,"repost":{"id":"2249540083","pubTimestamp":1658021139,"share":"https://ttm.financial/m/news/2249540083?lang=&edition=fundamental","pubTime":"2022-07-17 09:25","market":"fut","language":"en","title":"Tycoon Whose Bet Broke the Nickel Market Walks Away a Billionaire","url":"https://stock-news.laohu8.com/highlight/detail?id=2249540083","media":"Bloomberg","summary":"SINGAPORE (BLOOMBERG) --By 2.08pm Shanghai time on March 8, it was clear that Xiang Guangda's giant ","content":"<html><head></head><body><p>SINGAPORE (BLOOMBERG) --By 2.08pm Shanghai time on March 8, it was clear that Xiang Guangda&#39;s giant bet on a fall in nickel prices was going spectacularly wrong.</p><p>Futures had just skyrocketed above US$100,000 a ton and his trade was more than US$10 billion underwater. It was threatening not only to bankrupt Mr Xiang&#39;s company, but to trigger a Lehman Brothers-like shock through the entire metals industry and possibly topple the London Metal Exchange (LME) itself.</p><p>But Mr Xiang was calm. Within hours, more than 50 bankers had arrived at his office wanting to hear how he planned to respond to the crisis. He told them simply: &#34;I&#39;m confident that we will overcome this.&#34;</p><p>And he did.</p><p>Four months on, the nickel price is falling, as Mr Xiang had predicted. The coterie of banks led by JPMorgan Chase &amp; Co that were baying for his blood has been repaid. He has closed out nearly all his short position in nickel, making a loss on the trade of about US$1 billion - a manageable sum given the profits being generated elsewhere in his business empire, say people who know him.</p><p>Crucially: the man nicknamed &#39;Big Shot&#39; in Chinese commodities circles is poised to walk away from the fiasco with his multibillion-dollar mining and steelmaking company, Tsingshan Holding Group, intact and even expanding.</p><p>But while Mr Xiang moves on, others are left dealing with the destruction wrought by the crisis. His miraculous escape was thanks in no small part to the actions of the LME, which controversially intervened to prevent prices from rising and then suspended trading until Mr Xiang had struck a deal with his banks.</p><p>Those on the other side of the trade, who lost billions, were furious. Months later, the LME is dealing with a raft of investigations and lawsuits, and the nickel market is still reeling.</p><p>&#34;Nice to see that @jpmorgan and The Big Shot got out of this whole thing with only scratches,&#34; Cliff Asness, founder of AQR Capital Management, said last week in a tweet thick with sarcasm. &#34;It&#39;s just heart warming.&#34;</p><p>This account of how Mr Xiang extricated himself from a short squeeze that rocked the global metals markets is based on numerous interviews with people who were involved, all of whom requested anonymity. Multiple attempts to seek comment from Tsingshan were unsuccessful.</p><h2>Massive short squeeze</h2><p>Mr Xiang had built up his massive short position in late 2021 and early 2022 partly as a hedge, partly as a bet that a planned jump in Tsingshan&#39;s production this year would drag down prices. But when Russia&#39;s invasion of Ukraine jolted global markets, nickel started climbing - gradually at first, before rocketing 250 per cent in an epic squeeze.</p><p>On the evening of March 8, senior bankers crowded into a room at Tsingshan&#39;s headquarters demanding answers. Others dialed in for video calls from London or Singapore. Of those present, some didn&#39;t leave until early the next morning.</p><p>More On This TopicXiang Guangda, the metals &#39;visionary&#39; who brought nickel market to a standstillNickel trading halted after unprecedented 250% spike amid Russia supply fears</p><p>The crowd that night was so large because Mr Xiang&#39;s position was spread across about 10 banks and brokers - he had been a good client for many of them, including JPMorgan, for years. But after nickel started spiking on March 7, Tsingshan struggled to meet its margin calls. Now he owed each of them hundreds of millions of dollars.</p><p>The LME had eventually intervened to halt trading a couple of hours after nickel hit US$100,000. It also canceled billions of dollars of transactions, bringing the price back to US$48,078, where it closed the previous day, in what amounted to a lifeline for Mr Xiang and Tsingshan.</p><p>To reopen the market, the LME proposed a solution: Mr Xiang should strike a deal with holders of long positions to close out his trade. But a price of around US$50,000 would be more than twice the level at which he had entered his short position, and would mean accepting billions of dollars in losses.</p><p>Mr Xiang, who is in his early 60s, stood firm. From a start making frames for car doors and windows in Wenzhou, eastern China, he&#39;d built Tsingshan into the world&#39;s largest nickel and stainless steel producer, with an empire stretching from mines in remote Indonesian islands to steel mills on China&#39;s east coast. Along the way, he&#39;d acquired a reputation for visionary thinking and a taste for betting big.</p><p>The spike in prices and the trading freeze caused havoc for companies that use nickel, like stainless steel mills and makers of batteries for electric vehicles. Some simply stopped taking new orders. On the LME, dealers were left frantically trying to recoup missed margin calls from clients who couldn&#39;t pay, and at least one had to seek financial support from its parent company.</p><p>Yet with unprecedented chaos rippling through the industry, Mr Xiang - still facing his bankers in the early hours of March 9 - had a key advantage. They were more terrified than he was.</p><p>If he refused to pay, they would have to chase him in courts in Indonesia and China. What&#39;s more, he had executed his nickel trade through a variety of corporate entities - such as the Hong Kong branch of battery unit Ruipu Energy - and it wasn&#39;t clear the banks would even have the right to seize Tsingshan&#39;s most valuable assets.</p><p>JPMorgan, which had the biggest exposure, took the lead. The group included some international players like Standard Chartered Bank and BNP Paribas, but many were Chinese and Singaporean banks that had little experience handling a situation like this.</p><h2>Personal guarantee</h2><p>Mr Xiang told the assembled bankers he had no intention of closing the position anywhere near US$50,000. A few hours later he was delivering the same message to Matthew Chamberlain, chief executive of the LME. Tsingshan was a strong company, he said, and it had the support of the Chinese government. There would be no backing down.</p><p>Instead, he wrote a list of the assets he was willing to put up as collateral: a string of ferronickel plants in Indonesia. But for some of the bankers, that wasn&#39;t enough. They wouldn&#39;t be able to do any due diligence on the Indonesian assets for weeks or months, and even those who worked closely with Tsingshan hadn&#39;t seen the facilities for years because of the pandemic.</p><p>So Mr Xiang made a further concession that was both valuable and, in Chinese business culture, humbling: a personal guarantee. If Tsingshan didn&#39;t pay its debts, the bankers could turf him out of his home. That was what he was willing to offer. Take it or leave it.</p><p>More On This TopicMetal traders reel as nickel chaos recalls market&#39;s darkest daysLondon Metal Exchange CEO calls for more powers to intervene as nickel trading halt continues</p><p>It wasn&#39;t much of a choice. On March 14, a week after the chaos that engulfed the nickel market, Tsingshan announced a deal with its banks under which they agreed not to pursue the company for the billions it owed for a period of time. In exchange, Mr Xiang agreed a series of price levels at which he would reduce his nickel position once prices dropped below about US$30,000.</p><p>When the market reopened two days later, prices moved lower, easing the strain on Mr Xiang and the banks. A brief dip below US$30,000 allowed Tsingshan to cover about 20 per cent of its short position.</p><p>The pressure on the LME was only intensifying, however. The exchange&#39;s regulators launched reviews of its governance and oversight and many hedge funds were still furious at the LME&#39;s decision to cancel trades.Open interest across the exchange&#39;s six main metals slid to the lowest in more than a decade as traders headed for the exit.</p><p>Each month, Tsingshan and its banks reviewed their standstill agreement. After the initial dip, nickel spent long stretches in limbo with prices hovering around US$33,000.</p><p>It was a nervous time. Tsingshan still had a vast short position, meaning it and its banks could still be exposed to large losses if prices started rising again - for example, if sanctions against Russia led to an actual disruption in nickel supplies, which so far they hadn&#39;t.</p><p>Finally, in May, prices tumbled decisively below the key US$30,000 level after China&#39;s lockdowns dented metals market sentiment. Over the following weeks, Tsingshan reduced its position - which in early March had been over 150,000 tons - to just 60,000 tons.</p><p>By this point, prices were below the level at which Tsingshan had stopped being able to pay its margin calls in early March, which meant Mr Xiang no longer owed the banks any money.</p><p>By the end of June Mr Xiang had exited his position entirely with JPMorgan and several other banks, leaving him with a remaining short of less than 20,000 tons.</p><p>People familiar with the matter estimate Tsingshan&#39;s losses on the trade at around US$1 billion. Mr Xiang isn&#39;t concerned. The loss has been roughly offset by the profits of his nickel operations over the same period. The standstill agreement, which Mr Xiang extended from the initial three months, is set to expire in mid-July.</p><p>Now &#39;Big Shot&#39; is moving on with his life, focusing on plans for the future at Tsingshan, which had revenues of US$56 billion last year. His ability to trade on the LME may be reduced, for now at least, but he is still able to trade on the Shanghai Futures Exchange. He has ambitions to expand, not only in Asia, but also to Africa. And Tsingshan is as powerful as ever in the nickel market: a massive increase in production from his plants in Indonesia is one of the key factors driving prices lower, much as Mr Xiang predicted.</p><p>But while Mr Xiang may be moving on, the LME is still dealing with the fallout. Regulators have pointed to the chaos in nickel as a sign of the risks lurking in commodity markets, and called for greater oversight of the entire sector. Hedge fund Elliot Investment Management and trading firm Jane Street have launched legal action against the LME, seeking nearly US$500 million.</p><p>And the nickel market is still broken, say people involved in it, with both open interest and trading volumes stuck at sharply lower levels as traders step away from using LME prices in their contracts. Jim Lennon, a veteran nickel market-watcher and managing director of Red Door Research, estimates that less than 25 per cent of global nickel output is now being sold on the basis of LME prices, down from 50 per cent before the crisis in March.</p><p>&#34;A lot of the industry now has temporarily disengaged from the LME,&#34; he says. &#34;The market is still functioning, but it&#39;s struggling.&#34;</p></body></html>","source":"lsy1584095487587","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>Tycoon Whose Bet Broke the Nickel Market Walks Away a Billionaire</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\">\nTycoon Whose Bet Broke the Nickel Market Walks Away a Billionaire\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-17 09:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/companies-markets/tycoon-whose-bet-broke-the-nickel-market-walks-away-a-billionaire><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE (BLOOMBERG) --By 2.08pm Shanghai time on March 8, it was clear that Xiang Guangda's giant bet on a fall in nickel prices was going spectacularly wrong.Futures had just skyrocketed above US$...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/tycoon-whose-bet-broke-the-nickel-market-walks-away-a-billionaire\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JJN":"镍ETN-iPath","NIC.AU":"Nickel Industries Ltd","NICK.UK":"镍ETF"},"source_url":"https://www.straitstimes.com/business/companies-markets/tycoon-whose-bet-broke-the-nickel-market-walks-away-a-billionaire","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2249540083","content_text":"SINGAPORE (BLOOMBERG) --By 2.08pm Shanghai time on March 8, it was clear that Xiang Guangda's giant bet on a fall in nickel prices was going spectacularly wrong.Futures had just skyrocketed above US$100,000 a ton and his trade was more than US$10 billion underwater. It was threatening not only to bankrupt Mr Xiang's company, but to trigger a Lehman Brothers-like shock through the entire metals industry and possibly topple the London Metal Exchange (LME) itself.But Mr Xiang was calm. Within hours, more than 50 bankers had arrived at his office wanting to hear how he planned to respond to the crisis. He told them simply: \"I'm confident that we will overcome this.\"And he did.Four months on, the nickel price is falling, as Mr Xiang had predicted. The coterie of banks led by JPMorgan Chase & Co that were baying for his blood has been repaid. He has closed out nearly all his short position in nickel, making a loss on the trade of about US$1 billion - a manageable sum given the profits being generated elsewhere in his business empire, say people who know him.Crucially: the man nicknamed 'Big Shot' in Chinese commodities circles is poised to walk away from the fiasco with his multibillion-dollar mining and steelmaking company, Tsingshan Holding Group, intact and even expanding.But while Mr Xiang moves on, others are left dealing with the destruction wrought by the crisis. His miraculous escape was thanks in no small part to the actions of the LME, which controversially intervened to prevent prices from rising and then suspended trading until Mr Xiang had struck a deal with his banks.Those on the other side of the trade, who lost billions, were furious. Months later, the LME is dealing with a raft of investigations and lawsuits, and the nickel market is still reeling.\"Nice to see that @jpmorgan and The Big Shot got out of this whole thing with only scratches,\" Cliff Asness, founder of AQR Capital Management, said last week in a tweet thick with sarcasm. \"It's just heart warming.\"This account of how Mr Xiang extricated himself from a short squeeze that rocked the global metals markets is based on numerous interviews with people who were involved, all of whom requested anonymity. Multiple attempts to seek comment from Tsingshan were unsuccessful.Massive short squeezeMr Xiang had built up his massive short position in late 2021 and early 2022 partly as a hedge, partly as a bet that a planned jump in Tsingshan's production this year would drag down prices. But when Russia's invasion of Ukraine jolted global markets, nickel started climbing - gradually at first, before rocketing 250 per cent in an epic squeeze.On the evening of March 8, senior bankers crowded into a room at Tsingshan's headquarters demanding answers. Others dialed in for video calls from London or Singapore. Of those present, some didn't leave until early the next morning.More On This TopicXiang Guangda, the metals 'visionary' who brought nickel market to a standstillNickel trading halted after unprecedented 250% spike amid Russia supply fearsThe crowd that night was so large because Mr Xiang's position was spread across about 10 banks and brokers - he had been a good client for many of them, including JPMorgan, for years. But after nickel started spiking on March 7, Tsingshan struggled to meet its margin calls. Now he owed each of them hundreds of millions of dollars.The LME had eventually intervened to halt trading a couple of hours after nickel hit US$100,000. It also canceled billions of dollars of transactions, bringing the price back to US$48,078, where it closed the previous day, in what amounted to a lifeline for Mr Xiang and Tsingshan.To reopen the market, the LME proposed a solution: Mr Xiang should strike a deal with holders of long positions to close out his trade. But a price of around US$50,000 would be more than twice the level at which he had entered his short position, and would mean accepting billions of dollars in losses.Mr Xiang, who is in his early 60s, stood firm. From a start making frames for car doors and windows in Wenzhou, eastern China, he'd built Tsingshan into the world's largest nickel and stainless steel producer, with an empire stretching from mines in remote Indonesian islands to steel mills on China's east coast. Along the way, he'd acquired a reputation for visionary thinking and a taste for betting big.The spike in prices and the trading freeze caused havoc for companies that use nickel, like stainless steel mills and makers of batteries for electric vehicles. Some simply stopped taking new orders. On the LME, dealers were left frantically trying to recoup missed margin calls from clients who couldn't pay, and at least one had to seek financial support from its parent company.Yet with unprecedented chaos rippling through the industry, Mr Xiang - still facing his bankers in the early hours of March 9 - had a key advantage. They were more terrified than he was.If he refused to pay, they would have to chase him in courts in Indonesia and China. What's more, he had executed his nickel trade through a variety of corporate entities - such as the Hong Kong branch of battery unit Ruipu Energy - and it wasn't clear the banks would even have the right to seize Tsingshan's most valuable assets.JPMorgan, which had the biggest exposure, took the lead. The group included some international players like Standard Chartered Bank and BNP Paribas, but many were Chinese and Singaporean banks that had little experience handling a situation like this.Personal guaranteeMr Xiang told the assembled bankers he had no intention of closing the position anywhere near US$50,000. A few hours later he was delivering the same message to Matthew Chamberlain, chief executive of the LME. Tsingshan was a strong company, he said, and it had the support of the Chinese government. There would be no backing down.Instead, he wrote a list of the assets he was willing to put up as collateral: a string of ferronickel plants in Indonesia. But for some of the bankers, that wasn't enough. They wouldn't be able to do any due diligence on the Indonesian assets for weeks or months, and even those who worked closely with Tsingshan hadn't seen the facilities for years because of the pandemic.So Mr Xiang made a further concession that was both valuable and, in Chinese business culture, humbling: a personal guarantee. If Tsingshan didn't pay its debts, the bankers could turf him out of his home. That was what he was willing to offer. Take it or leave it.More On This TopicMetal traders reel as nickel chaos recalls market's darkest daysLondon Metal Exchange CEO calls for more powers to intervene as nickel trading halt continuesIt wasn't much of a choice. On March 14, a week after the chaos that engulfed the nickel market, Tsingshan announced a deal with its banks under which they agreed not to pursue the company for the billions it owed for a period of time. In exchange, Mr Xiang agreed a series of price levels at which he would reduce his nickel position once prices dropped below about US$30,000.When the market reopened two days later, prices moved lower, easing the strain on Mr Xiang and the banks. A brief dip below US$30,000 allowed Tsingshan to cover about 20 per cent of its short position.The pressure on the LME was only intensifying, however. The exchange's regulators launched reviews of its governance and oversight and many hedge funds were still furious at the LME's decision to cancel trades.Open interest across the exchange's six main metals slid to the lowest in more than a decade as traders headed for the exit.Each month, Tsingshan and its banks reviewed their standstill agreement. After the initial dip, nickel spent long stretches in limbo with prices hovering around US$33,000.It was a nervous time. Tsingshan still had a vast short position, meaning it and its banks could still be exposed to large losses if prices started rising again - for example, if sanctions against Russia led to an actual disruption in nickel supplies, which so far they hadn't.Finally, in May, prices tumbled decisively below the key US$30,000 level after China's lockdowns dented metals market sentiment. Over the following weeks, Tsingshan reduced its position - which in early March had been over 150,000 tons - to just 60,000 tons.By this point, prices were below the level at which Tsingshan had stopped being able to pay its margin calls in early March, which meant Mr Xiang no longer owed the banks any money.By the end of June Mr Xiang had exited his position entirely with JPMorgan and several other banks, leaving him with a remaining short of less than 20,000 tons.People familiar with the matter estimate Tsingshan's losses on the trade at around US$1 billion. Mr Xiang isn't concerned. The loss has been roughly offset by the profits of his nickel operations over the same period. The standstill agreement, which Mr Xiang extended from the initial three months, is set to expire in mid-July.Now 'Big Shot' is moving on with his life, focusing on plans for the future at Tsingshan, which had revenues of US$56 billion last year. His ability to trade on the LME may be reduced, for now at least, but he is still able to trade on the Shanghai Futures Exchange. He has ambitions to expand, not only in Asia, but also to Africa. And Tsingshan is as powerful as ever in the nickel market: a massive increase in production from his plants in Indonesia is one of the key factors driving prices lower, much as Mr Xiang predicted.But while Mr Xiang may be moving on, the LME is still dealing with the fallout. Regulators have pointed to the chaos in nickel as a sign of the risks lurking in commodity markets, and called for greater oversight of the entire sector. Hedge fund Elliot Investment Management and trading firm Jane Street have launched legal action against the LME, seeking nearly US$500 million.And the nickel market is still broken, say people involved in it, with both open interest and trading volumes stuck at sharply lower levels as traders step away from using LME prices in their contracts. Jim Lennon, a veteran nickel market-watcher and managing director of Red Door Research, estimates that less than 25 per cent of global nickel output is now being sold on the basis of LME prices, down from 50 per cent before the crisis in March.\"A lot of the industry now has temporarily disengaged from the LME,\" he says. \"The market is still functioning, but it's struggling.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9046500935,"gmtCreate":1656370133327,"gmtModify":1676535813013,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046500935","repostId":"2246790640","repostType":4,"repost":{"id":"2246790640","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":1656342785,"share":"https://ttm.financial/m/news/2246790640?lang=&edition=fundamental","pubTime":"2022-06-27 23:13","market":"us","language":"en","title":"U.S. Supreme Court Won't Hear Apple's Bid to Revive Qualcomm Patent Challenges","url":"https://stock-news.laohu8.com/highlight/detail?id=2246790640","media":"Reuters","summary":"The U.S. Supreme Court on Monday declined to hear Apple Inc's    bid to revive an effort to cancel t","content":"<html><head></head><body><p>The U.S. Supreme Court on Monday declined to hear Apple Inc&#39;s    bid to revive an effort to cancel two Qualcomm Inc    smartphone patents despite the global settlement of the underlying dispute between the two tech giants.</p><p>The justices turned away Apple&#39;s appeal of a lower court&#39;s ruling that the Cupertino, California-based company lacked standing to pursue the matter because of the settlement. Apple had argued that it should be allowed to appeal because San Diego-based Qualcomm could sue again after the settlement ends.</p><p>Qualcomm sued Apple in San Diego federal court in 2017, arguing that its iPhones, iPads and Apple Watches infringed a variety of Qualcomm mobile-technology patents. That case was <a href=\"https://laohu8.com/S/AONE.U\">one</a> element of a broader dispute between the rivals.</p><p>Apple challenged the validity of the two patents at issue at the Patent and Trademark Office&#39;s Patent Trial and Appeal Board.</p><p>The parties settled their litigation in 2019, signing an agreement worth billions of dollars that allowed Apple to continue using Qualcomm chips in iPhones. The settlement also featured a license to tens of thousands of Qualcomm patents, including the two at issue, but allowed the patent board case to continue.</p><p>The board ruled in favor of Qualcomm. The U.S. Court of Appeals for the Federal Circuit, which specializes in patent law, dismissed Apple&#39;s appeal last year based on the settlement. The Federal Circuit rejected Apple&#39;s contention that its royalty payments and risk of being sued again justified hearing the case on the merits.</p><p>Apple told the Supreme Court that it still faced the risk of litigation after the agreement expires in 2025, or in 2027 if the settlement term is extended. Qualcomm already sued once, has &#34;not disclaimed its intention to do so again,&#34; and has a &#34;history of aggressively enforcing its patents,&#34; Apple said.</p><p>Qualcomm asked the justices to reject the appeal, arguing Apple had not shown any concrete injury that would give it proper legal standing.</p><p>President Joe Biden&#39;s administration urged the Supreme Court to reject the appeal in a brief in May.</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>U.S. Supreme Court Won't Hear Apple's Bid to Revive Qualcomm Patent Challenges</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\">\nU.S. Supreme Court Won't Hear Apple's Bid to Revive Qualcomm Patent Challenges\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\">2022-06-27 23:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The U.S. Supreme Court on Monday declined to hear Apple Inc&#39;s    bid to revive an effort to cancel two Qualcomm Inc    smartphone patents despite the global settlement of the underlying dispute between the two tech giants.</p><p>The justices turned away Apple&#39;s appeal of a lower court&#39;s ruling that the Cupertino, California-based company lacked standing to pursue the matter because of the settlement. Apple had argued that it should be allowed to appeal because San Diego-based Qualcomm could sue again after the settlement ends.</p><p>Qualcomm sued Apple in San Diego federal court in 2017, arguing that its iPhones, iPads and Apple Watches infringed a variety of Qualcomm mobile-technology patents. That case was <a href=\"https://laohu8.com/S/AONE.U\">one</a> element of a broader dispute between the rivals.</p><p>Apple challenged the validity of the two patents at issue at the Patent and Trademark Office&#39;s Patent Trial and Appeal Board.</p><p>The parties settled their litigation in 2019, signing an agreement worth billions of dollars that allowed Apple to continue using Qualcomm chips in iPhones. The settlement also featured a license to tens of thousands of Qualcomm patents, including the two at issue, but allowed the patent board case to continue.</p><p>The board ruled in favor of Qualcomm. The U.S. Court of Appeals for the Federal Circuit, which specializes in patent law, dismissed Apple&#39;s appeal last year based on the settlement. The Federal Circuit rejected Apple&#39;s contention that its royalty payments and risk of being sued again justified hearing the case on the merits.</p><p>Apple told the Supreme Court that it still faced the risk of litigation after the agreement expires in 2025, or in 2027 if the settlement term is extended. Qualcomm already sued once, has &#34;not disclaimed its intention to do so again,&#34; and has a &#34;history of aggressively enforcing its patents,&#34; Apple said.</p><p>Qualcomm asked the justices to reject the appeal, arguing Apple had not shown any concrete injury that would give it proper legal standing.</p><p>President Joe Biden&#39;s administration urged the Supreme Court to reject the appeal in a brief in May.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4561":"索罗斯持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","AAPL":"苹果","BK4507":"流媒体概念","BK4534":"瑞士信贷持仓","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4575":"芯片概念","QCOM":"高通","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4141":"半导体产品","BK4574":"无人驾驶","BK4573":"虚拟现实"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2246790640","content_text":"The U.S. Supreme Court on Monday declined to hear Apple Inc's    bid to revive an effort to cancel two Qualcomm Inc    smartphone patents despite the global settlement of the underlying dispute between the two tech giants.The justices turned away Apple's appeal of a lower court's ruling that the Cupertino, California-based company lacked standing to pursue the matter because of the settlement. Apple had argued that it should be allowed to appeal because San Diego-based Qualcomm could sue again after the settlement ends.Qualcomm sued Apple in San Diego federal court in 2017, arguing that its iPhones, iPads and Apple Watches infringed a variety of Qualcomm mobile-technology patents. That case was one element of a broader dispute between the rivals.Apple challenged the validity of the two patents at issue at the Patent and Trademark Office's Patent Trial and Appeal Board.The parties settled their litigation in 2019, signing an agreement worth billions of dollars that allowed Apple to continue using Qualcomm chips in iPhones. The settlement also featured a license to tens of thousands of Qualcomm patents, including the two at issue, but allowed the patent board case to continue.The board ruled in favor of Qualcomm. The U.S. Court of Appeals for the Federal Circuit, which specializes in patent law, dismissed Apple's appeal last year based on the settlement. The Federal Circuit rejected Apple's contention that its royalty payments and risk of being sued again justified hearing the case on the merits.Apple told the Supreme Court that it still faced the risk of litigation after the agreement expires in 2025, or in 2027 if the settlement term is extended. Qualcomm already sued once, has \"not disclaimed its intention to do so again,\" and has a \"history of aggressively enforcing its patents,\" Apple said.Qualcomm asked the justices to reject the appeal, arguing Apple had not shown any concrete injury that would give it proper legal standing.President Joe Biden's administration urged the Supreme Court to reject the appeal in a brief in May.","news_type":1},"isVote":1,"tweetType":1,"viewCount":357,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9957274587,"gmtCreate":1677359474050,"gmtModify":1677359478427,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":18,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957274587","repostId":"1117520516","repostType":4,"repost":{"id":"1117520516","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":1677334099,"share":"https://ttm.financial/m/news/1117520516?lang=&edition=fundamental","pubTime":"2023-02-25 22:08","market":"us","language":"en","title":"Buffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills","url":"https://stock-news.laohu8.com/highlight/detail?id=1117520516","media":"Tiger Newspress","summary":"Warren Buffett is still betting on America.Stocks and bonds slumped in 2022 after central banks rais","content":"<html><head></head><body><p>Warren Buffett is still betting on America.</p><p>Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.</p><p>“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.</p><p>Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.</p><p>Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.</p><p>The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.</p><p>As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.</p><p>“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.</p><p>Berkshire also released its results for 2022 on Saturday.</p><p>The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.</p><p>Total revenue rose 9.4% to $302.1 billion.</p><p>Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.</p><p>Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.</p><p>“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.</p><h2>Read the full letter here:</h2><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.</p><p>A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.</p><p>Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.</p><p>The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.</p><p>Who wouldn’t enjoy working for shareholders like ours?</p><h2>What We Do</h2><p>Charlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.</p><p>In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.</p><p>Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”</p><p>One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.</p><p>Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.</p><p>* * * * * * * * * * * *</p><p>At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)</p><p>Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.</p><h2>The Secret Sauce</h2><p>In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.</p><p>The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.</p><p>American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.</p><p>These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.</p><p>Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.</p><p>The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.</p><h2>The Past Year in Brief</h2><p>Berkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:</p><p><img src=\"https://static.tigerbbs.com/69e74650656620f9fa3f1e55c15a90e5\" tg-width=\"797\" tg-height=\"207\" width=\"100%\" height=\"auto\"/></p><p>The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.</p><p>A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.</p><p>Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.</p><p>* * * * * * * * * * * *</p><p>A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.</p><p>The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.</p><p>Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?</p><p>When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).</p><p>Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.</p><p>And that is a promise we can make.</p><p>* * * * * * * * * * * *</p><p>Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.</p><p>That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.</p><h2>58 Years – and a Few Figures</h2><p>In 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.</p><p>And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.</p><p>Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.</p><p>Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&amp;P 500 Index, an elite collection of large and well-known American companies.</p><p>In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.</p><p>At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.</p><p>In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and</p><p>$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.</p><p>As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.</p><p>At Berkshire, there will be no finish line.</p><h2>Some Surprising Facts About Federal Taxes</h2><p>During the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.</p><p>Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.</p><p>The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.</p><p>And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.</p><p>* * * * * * * * * * * *</p><p>Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:</p><p>- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.</p><p>- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.</p><p>- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.</p><p>When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”</p><p>* * * * * * * * * * * *</p><p>At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.</p><p>I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.</p><h2>Nothing Beats Having a Great Partner</h2><p>Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.</p><p>Here are a few of his thoughts, many lifted from a very recent podcast:</p><p>- The world is full of foolish gamblers, and they will not do as well as the patient investor.</p><p>- If you don’t see the world the way it is, it’s like judging something through a distorted lens.</p><p>- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.</p><p>- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.</p><p>- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.</p><p>- You can learn a lot from dead people. Read of the deceased you admire and detest.</p><p>- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.</p><p>- A great company keeps working after you are not; a mediocre company won’t do that.</p><p>- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.</p><p>- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.</p><p>- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.</p><p>- You don’t, however, need to own a lot of things in order to get rich.</p><p>- You have to keep learning if you want to become a great investor. When the world changes, you must change.</p><p>- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.</p><p>- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”</p><p>And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.</p><p>* * * * * * * * * * * *</p><p>I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.</p><h2>A Family Gathering in Omaha</h2><p>Charlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.</p><p>From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?</p><p>I know you can’t wait to hear the specifics of last year’s hustle.</p><p>On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.</p><p>Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.</p><p>* * * * * * * * * * * *</p><p>Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.</p><p>February 25, 2023 Warren E. Buffett </p><p>Chairman of the Board</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>Buffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills</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\">\nBuffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills\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\">2023-02-25 22:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett is still betting on America.</p><p>Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.</p><p>“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.</p><p>Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.</p><p>Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.</p><p>The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.</p><p>As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.</p><p>“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.</p><p>Berkshire also released its results for 2022 on Saturday.</p><p>The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.</p><p>Total revenue rose 9.4% to $302.1 billion.</p><p>Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.</p><p>Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.</p><p>“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.</p><h2>Read the full letter here:</h2><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.</p><p>A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.</p><p>Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.</p><p>The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.</p><p>Who wouldn’t enjoy working for shareholders like ours?</p><h2>What We Do</h2><p>Charlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.</p><p>In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.</p><p>Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”</p><p>One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.</p><p>Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.</p><p>* * * * * * * * * * * *</p><p>At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)</p><p>Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.</p><h2>The Secret Sauce</h2><p>In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.</p><p>The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.</p><p>American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.</p><p>These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.</p><p>Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.</p><p>The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.</p><h2>The Past Year in Brief</h2><p>Berkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:</p><p><img src=\"https://static.tigerbbs.com/69e74650656620f9fa3f1e55c15a90e5\" tg-width=\"797\" tg-height=\"207\" width=\"100%\" height=\"auto\"/></p><p>The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.</p><p>A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.</p><p>Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.</p><p>* * * * * * * * * * * *</p><p>A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.</p><p>The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.</p><p>Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?</p><p>When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).</p><p>Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.</p><p>And that is a promise we can make.</p><p>* * * * * * * * * * * *</p><p>Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.</p><p>That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.</p><h2>58 Years – and a Few Figures</h2><p>In 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.</p><p>And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.</p><p>Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.</p><p>Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&amp;P 500 Index, an elite collection of large and well-known American companies.</p><p>In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.</p><p>At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.</p><p>In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and</p><p>$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.</p><p>As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.</p><p>At Berkshire, there will be no finish line.</p><h2>Some Surprising Facts About Federal Taxes</h2><p>During the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.</p><p>Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.</p><p>The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.</p><p>And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.</p><p>* * * * * * * * * * * *</p><p>Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:</p><p>- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.</p><p>- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.</p><p>- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.</p><p>When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”</p><p>* * * * * * * * * * * *</p><p>At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.</p><p>I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.</p><h2>Nothing Beats Having a Great Partner</h2><p>Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.</p><p>Here are a few of his thoughts, many lifted from a very recent podcast:</p><p>- The world is full of foolish gamblers, and they will not do as well as the patient investor.</p><p>- If you don’t see the world the way it is, it’s like judging something through a distorted lens.</p><p>- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.</p><p>- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.</p><p>- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.</p><p>- You can learn a lot from dead people. Read of the deceased you admire and detest.</p><p>- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.</p><p>- A great company keeps working after you are not; a mediocre company won’t do that.</p><p>- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.</p><p>- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.</p><p>- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.</p><p>- You don’t, however, need to own a lot of things in order to get rich.</p><p>- You have to keep learning if you want to become a great investor. When the world changes, you must change.</p><p>- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.</p><p>- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”</p><p>And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.</p><p>* * * * * * * * * * * *</p><p>I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.</p><h2>A Family Gathering in Omaha</h2><p>Charlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.</p><p>From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?</p><p>I know you can’t wait to hear the specifics of last year’s hustle.</p><p>On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.</p><p>Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.</p><p>* * * * * * * * * * * *</p><p>Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.</p><p>February 25, 2023 Warren E. Buffett </p><p>Chairman of the Board</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":"1117520516","content_text":"Warren Buffett is still betting on America.Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.Berkshire also released its results for 2022 on Saturday.The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.Total revenue rose 9.4% to $302.1 billion.Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.Read the full letter here:To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.Who wouldn’t enjoy working for shareholders like ours?What We DoCharlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.* * * * * * * * * * * *At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.The Secret SauceIn August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.The Past Year in BriefBerkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.* * * * * * * * * * * *A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.And that is a promise we can make.* * * * * * * * * * * *Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.58 Years – and a Few FiguresIn 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&P 500 Index, an elite collection of large and well-known American companies.In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.At Berkshire, there will be no finish line.Some Surprising Facts About Federal TaxesDuring the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.* * * * * * * * * * * *Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”* * * * * * * * * * * *At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.Nothing Beats Having a Great PartnerCharlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.Here are a few of his thoughts, many lifted from a very recent podcast:- The world is full of foolish gamblers, and they will not do as well as the patient investor.- If you don’t see the world the way it is, it’s like judging something through a distorted lens.- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.- You can learn a lot from dead people. Read of the deceased you admire and detest.- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.- A great company keeps working after you are not; a mediocre company won’t do that.- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.- You don’t, however, need to own a lot of things in order to get rich.- You have to keep learning if you want to become a great investor. When the world changes, you must change.- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.* * * * * * * * * * * *I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.A Family Gathering in OmahaCharlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?I know you can’t wait to hear the specifics of last year’s hustle.On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.* * * * * * * * * * * *Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.February 25, 2023 Warren E. Buffett Chairman of the Board","news_type":1},"isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9909612986,"gmtCreate":1658874312445,"gmtModify":1676536219019,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9909612986","repostId":"1146864651","repostType":4,"repost":{"id":"1146864651","pubTimestamp":1658844772,"share":"https://ttm.financial/m/news/1146864651?lang=&edition=fundamental","pubTime":"2022-07-26 22:12","market":"us","language":"en","title":"Booming ETFs That Worry Wall Street Watchdogs Rake In Billions","url":"https://stock-news.laohu8.com/highlight/detail?id=1146864651","media":"Bloomberg","summary":"ETFs that could be deemed “complex” by regulators are growingAllocators navigate rout in everything from rates to stocksTraders are splurging billions of dollars on “complex” ETFs to ride out the crus","content":"<html><head></head><body><ul><li>ETFs that could be deemed “complex” by regulators are growing</li><li>Allocators navigate rout in everything from rates to stocks</li></ul><p>Traders are splurging billions of dollars on “complex” ETFs to ride out the crushing bear market across assets -- just as Wall Street watchdogs threaten intrusive measures to limit retail participation.</p><p>Issuers including ProShares Advisors LLC, Direxion and Innovator ETFs have been flooded with nearly $24 billion of inflows this year into these typically derivatives-powered exchange-traded funds. Investors are navigating the crash in everything from stocks and crypto to fixed income by using the ETFs to bet on more pain or to nab outsize returns during market rebounds.</p><p>The bulk of the trading instruments likely fall under the “complex” banner, an ever-expanding category that includes leveraged and inverse vehicles and -- if regulators get their way -- potentially digital tokens and so-called defined-outcome trades.</p><p>The products are a growing corner of the almost $6.4 trillion industry, defying words of caution issued by the US Securities and Exchange Commission and others.</p><p>“We have this bizarre situation where products have launched and then the SEC staff is saying not to use them,” said Dave Nadig, an ETF expert at data provider and research consultants VettaFi.</p><p>Innovator ETFs, which manages defined-outcome trades that hedge market exposures, is fresh off its first-ever billion-dollar quarter of inflows. A ProShares fund that tracks three-times the inverse performance of the Nasdaq 100 got a record one-day inflow of $460 million last week. Assets in US leveraged and inverse trading ETPs have climbed around 8% from the end of June to $72 billion, according to Bloomberg Intelligence data.</p><p>Meanwhile, the firstsingle-stock ETFslaunched in the US this month, with more than 80 such filings sitting in the SEC’s queue.</p><p>The Financial Industry Regulatory Authority called for comments in April on whether more measures should be introduced to raise the barriers to entry for complex products. After receiving a record12,000, the agency is evaluating whether any rule changes are warranted, said a spokesperson in an email to Bloomberg News.</p><p><img src=\"https://static.tigerbbs.com/29dcf7600f1bcf7b7ffa044d339f38cf\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In an industry defined by rock-bottom fees, it’s inevitable that issuers will attempt to meet that demand with “hyper-narrow, heavily structured products” that command higher expense ratios, according to Nadig. “There’s very little green field left to build straight-forward and low-cost products, so the only things left are more complex products.”</p><p>That’s the case behind the first US single-equity ETFs. AXS Investments launched eight such funds last week with expense ratios of 1.15%, within days of SEC Chair Gary Gensler saying such products “present particular risk” in a press call. Gensler’s warning followed acallfrom Commissioner Caroline Crenshaw for the agency to adopt new rules.</p><p>Yet single-stock funds have been able to list in part thanks to rule changes in 2019 and 2020 that allow leveraged and inverse ETFs to launch without first getting the SEC’s approval. That’s led to the current dynamic where regulators are “simultaneously dissing and approving” these ETFs, Nadig said.</p><p>“Complex doesn’t mean more risky, you just have to understand what it is,” Nadig said. “For example,DBMFand PFIX absolutely are complex, but the right tools for the market we’re in right now.”</p><p>The $440 million iM DBi Managed Futures Strategy ETF (ticker DBMF), which holds futures contracts across commodities and equities, has returned 24% this year thanks to the one-way inflation momentum trade. The $292 million Simplify Interest Rate Hedge ETF (PFIX), which uses options to ride floating interest rates, has gained about 44% in 2022.</p><p><img src=\"https://static.tigerbbs.com/b5ffa4c7317d5b521d77fb3bc5da1deb\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>While the S&amp;P 500 has entered bear-market territory, the $175 million Innovator Equity Power Buffer ETF-August (PAUG), which seeks to buffer against the first 15% of losses in the SPDR S&amp;P 500 ETF Trust (SPY) over its 12-month outcome period, has outperformed the fund by 8% since last July.</p><p>“Even though our growth is very good and very strong, it could have been much faster and much better if they had not put this label of complex product on our funds,” said Bruce Bond, chief executive officer at Innovator. “They’ve made it difficult for us to get in established brokerage distribution.”</p><p>Derivatives-heavy products labeled as “complex” by some regulators aren’t necessarily risky, according to Deborah Fuhr, co-founder of ETFGI. But curbing access to certain speculative funds may be no bad thing. She is hoping Finra will clarify things soon enough.</p><p>“Many people feel that there are a large number of investors who don’t understand how many leveraged and inverse products work,” she said.</p></body></html>","source":"lsy1584095487587","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>Booming ETFs That Worry Wall Street Watchdogs Rake In Billions</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\">\nBooming ETFs That Worry Wall Street Watchdogs Rake In Billions\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-26 22:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-07-25/booming-etfs-that-worry-wall-street-watchdogs-rake-in-billions><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ETFs that could be deemed “complex” by regulators are growingAllocators navigate rout in everything from rates to stocksTraders are splurging billions of dollars on “complex” ETFs to ride out the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-07-25/booming-etfs-that-worry-wall-street-watchdogs-rake-in-billions\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF","DBMF":"iMGP DBi Managed Futures Strategy ETF","PAUG":"Innovator U.S. Equity Power Buffer ETF - August"},"source_url":"https://www.bloomberg.com/news/articles/2022-07-25/booming-etfs-that-worry-wall-street-watchdogs-rake-in-billions","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146864651","content_text":"ETFs that could be deemed “complex” by regulators are growingAllocators navigate rout in everything from rates to stocksTraders are splurging billions of dollars on “complex” ETFs to ride out the crushing bear market across assets -- just as Wall Street watchdogs threaten intrusive measures to limit retail participation.Issuers including ProShares Advisors LLC, Direxion and Innovator ETFs have been flooded with nearly $24 billion of inflows this year into these typically derivatives-powered exchange-traded funds. Investors are navigating the crash in everything from stocks and crypto to fixed income by using the ETFs to bet on more pain or to nab outsize returns during market rebounds.The bulk of the trading instruments likely fall under the “complex” banner, an ever-expanding category that includes leveraged and inverse vehicles and -- if regulators get their way -- potentially digital tokens and so-called defined-outcome trades.The products are a growing corner of the almost $6.4 trillion industry, defying words of caution issued by the US Securities and Exchange Commission and others.“We have this bizarre situation where products have launched and then the SEC staff is saying not to use them,” said Dave Nadig, an ETF expert at data provider and research consultants VettaFi.Innovator ETFs, which manages defined-outcome trades that hedge market exposures, is fresh off its first-ever billion-dollar quarter of inflows. A ProShares fund that tracks three-times the inverse performance of the Nasdaq 100 got a record one-day inflow of $460 million last week. Assets in US leveraged and inverse trading ETPs have climbed around 8% from the end of June to $72 billion, according to Bloomberg Intelligence data.Meanwhile, the firstsingle-stock ETFslaunched in the US this month, with more than 80 such filings sitting in the SEC’s queue.The Financial Industry Regulatory Authority called for comments in April on whether more measures should be introduced to raise the barriers to entry for complex products. After receiving a record12,000, the agency is evaluating whether any rule changes are warranted, said a spokesperson in an email to Bloomberg News.In an industry defined by rock-bottom fees, it’s inevitable that issuers will attempt to meet that demand with “hyper-narrow, heavily structured products” that command higher expense ratios, according to Nadig. “There’s very little green field left to build straight-forward and low-cost products, so the only things left are more complex products.”That’s the case behind the first US single-equity ETFs. AXS Investments launched eight such funds last week with expense ratios of 1.15%, within days of SEC Chair Gary Gensler saying such products “present particular risk” in a press call. Gensler’s warning followed acallfrom Commissioner Caroline Crenshaw for the agency to adopt new rules.Yet single-stock funds have been able to list in part thanks to rule changes in 2019 and 2020 that allow leveraged and inverse ETFs to launch without first getting the SEC’s approval. That’s led to the current dynamic where regulators are “simultaneously dissing and approving” these ETFs, Nadig said.“Complex doesn’t mean more risky, you just have to understand what it is,” Nadig said. “For example,DBMFand PFIX absolutely are complex, but the right tools for the market we’re in right now.”The $440 million iM DBi Managed Futures Strategy ETF (ticker DBMF), which holds futures contracts across commodities and equities, has returned 24% this year thanks to the one-way inflation momentum trade. The $292 million Simplify Interest Rate Hedge ETF (PFIX), which uses options to ride floating interest rates, has gained about 44% in 2022.While the S&P 500 has entered bear-market territory, the $175 million Innovator Equity Power Buffer ETF-August (PAUG), which seeks to buffer against the first 15% of losses in the SPDR S&P 500 ETF Trust (SPY) over its 12-month outcome period, has outperformed the fund by 8% since last July.“Even though our growth is very good and very strong, it could have been much faster and much better if they had not put this label of complex product on our funds,” said Bruce Bond, chief executive officer at Innovator. “They’ve made it difficult for us to get in established brokerage distribution.”Derivatives-heavy products labeled as “complex” by some regulators aren’t necessarily risky, according to Deborah Fuhr, co-founder of ETFGI. But curbing access to certain speculative funds may be no bad thing. She is hoping Finra will clarify things soon enough.“Many people feel that there are a large number of investors who don’t understand how many leveraged and inverse products work,” she said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":495,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957274423,"gmtCreate":1677359486962,"gmtModify":1677359490703,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957274423","repostId":"1177307200","repostType":4,"repost":{"id":"1177307200","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":1677330651,"share":"https://ttm.financial/m/news/1177307200?lang=&edition=fundamental","pubTime":"2023-02-25 21:10","market":"us","language":"en","title":"Berkshire Hathaway Fourth-Quarter Operating Earnings Fall 8%, Cash Hoard Swells to Nearly $130 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1177307200","media":"Tiger Newspress","summary":"Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weig","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/9027ddd6e6e1a7c4f859db847ded7046\" tg-width=\"929\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weighed on the conglomerate’s businesses.</p><p>Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.</p><p>For the year, the conglomerate’s operating earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.</p><p>Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That’s lower than the year-earlier period when share repurchases totaled approximately $6.9 billion.</p><p>Given this, Berkshire’s cash hoard grew to $128.651 billion in the fourth quarter of 2022. That’s up from nearly $109 billion in the third quarter.</p><p>Buffett said in his annual shareholder letter that Berkshire will continue to hold a “boatload” of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will use their own money to hold Berkshire shares.</p><p>“As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” Buffett wrote.</p><p>“And yes, our shareholders will continue to save and prosper by retaining earnings. At Berkshire, there will be no finish line.”</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 Fourth-Quarter Operating Earnings Fall 8%, Cash Hoard Swells to Nearly $130 Billion</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 Fourth-Quarter Operating Earnings Fall 8%, Cash Hoard Swells to Nearly $130 Billion\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\">2023-02-25 21:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><img src=\"https://static.tigerbbs.com/9027ddd6e6e1a7c4f859db847ded7046\" tg-width=\"929\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weighed on the conglomerate’s businesses.</p><p>Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.</p><p>For the year, the conglomerate’s operating earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.</p><p>Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That’s lower than the year-earlier period when share repurchases totaled approximately $6.9 billion.</p><p>Given this, Berkshire’s cash hoard grew to $128.651 billion in the fourth quarter of 2022. That’s up from nearly $109 billion in the third quarter.</p><p>Buffett said in his annual shareholder letter that Berkshire will continue to hold a “boatload” of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will use their own money to hold Berkshire shares.</p><p>“As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” Buffett wrote.</p><p>“And yes, our shareholders will continue to save and prosper by retaining earnings. At Berkshire, there will be no finish line.”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177307200","content_text":"Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weighed on the conglomerate’s businesses.Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.For the year, the conglomerate’s operating earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That’s lower than the year-earlier period when share repurchases totaled approximately $6.9 billion.Given this, Berkshire’s cash hoard grew to $128.651 billion in the fourth quarter of 2022. That’s up from nearly $109 billion in the third quarter.Buffett said in his annual shareholder letter that Berkshire will continue to hold a “boatload” of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will use their own money to hold Berkshire shares.“As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” Buffett wrote.“And yes, our shareholders will continue to save and prosper by retaining earnings. At Berkshire, there will be no finish line.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035802943,"gmtCreate":1647560396368,"gmtModify":1676534243629,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035802943","repostId":"2220470897","repostType":2,"repost":{"id":"2220470897","pubTimestamp":1647559908,"share":"https://ttm.financial/m/news/2220470897?lang=&edition=fundamental","pubTime":"2022-03-18 07:31","market":"us","language":"en","title":"Successfully Differentiating Itself On Growth Is A Key Opportunity For F.N.B.","url":"https://stock-news.laohu8.com/highlight/detail?id=2220470897","media":"seekingalpha","summary":"pawel.gaul/E+ via Getty Images I haven't generally been all that bullish on F.N.B. Corp (NYSE:FNB), ","content":"<html><body><p><figure><picture><img height=\"864px\" src=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1319961439/image_1319961439.jpg?io=getty-c-w750\" srcset=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1319961439/image_1319961439.jpg?io=getty-c-w1536 1536w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1319961439/image_1319961439.jpg?io=getty-c-w1280 1280w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1319961439/image_1319961439.jpg?io=getty-c-w1080 1080w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1319961439/image_1319961439.jpg?io=getty-c-w750 750w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1319961439/image_1319961439.jpg?io=getty-c-w640 640w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1319961439/image_1319961439.jpg?io=getty-c-w480 480w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1319961439/image_1319961439.jpg?io=getty-c-w320 320w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1319961439/image_1319961439.jpg?io=getty-c-w240 240w\" width=\"1536px\"/></picture><figcaption><p>pawel.gaul/E+ via Getty Images</p></figcaption></figure></p> <p>I haven't generally been all that bullish on <strong><a href=\"https://laohu8.com/S/FNB\">F.N.B. Corp</a></strong> (<span>NYSE:FNB</span>), and over the last couple of years, that has been the right call, as the shares of this Pittsburgh-based bank have underperformed peers and the S&amp;P 500. Looking at recent results, though, and the opportunity in markets like North Carolina and Baltimore, I see more potential for worthwhile acceleration and some outperformance over its regional peers.</p><div></div> <p>Given F.N.B.'s appealing mix of \"big bank\" product offerings and \"small bank' service quality, I do think F.N.B. can be a share gainer in its legacy markets while also leveraging above-average growth potential in newer markets. If F.N.B. can generate around 5% to 6% long-term core earnings growth, these shares look around 10% to 20% undervalued today after basically matching its peer group since my last update.</p> <h2><strong>Time To Disrupt Baltimore</strong></h2> <p>With the Howard Bank deal done, F.N.B. now has around 3.5% share in the Baltimore market, making it the sixth largest bank by deposit share, as it leapfrogged <strong>Sandy Spring</strong> (SASR). Although I had my issues with the Howard deal, I do see opportunities for smaller banks to leverage disruption in this market.</p> <p>Baltimore doesn't offer the kind of flashy growth that markets like Atlanta or Charlotte offer, but there are a lot of large banks in this market - the five largest banks (<strong>Bank of America</strong> (BAC), <strong>M&amp;T Bank</strong> (MTB), <strong>Truist</strong> (TFC), <strong>PNC</strong> (PNC), and <strong>Wells Fargo</strong> (WFC)) have about 80% share - and smaller, nimble banks like F.N.B. (and Sandy Spring) can win business by focusing on service quality and targeting smaller middle-market customers that are outside of the sweet spot of the increasingly margin-focused larger players.</p> <p>In addition to out-competing larger banks on service, F.N.B. can win business from smaller banks that cannot compete head-to-head with the products and service that it provides - including strong digital/online tools and capital markets/treasury management services - and cross-selling those services to pre-existing Howard Bank customers should be relatively low-hanging fruit from a revenue synergy standpoint.</p> <h2><strong>Good Leverage To The Growth Cycle</strong></h2> <p>With healthy economic activity and a new tightening cycle, banks should be entering a growth cycle for the next two or three years.</p> <p>F.N.B. has above-average rate sensitivity, with a 100bp rate move equating to an estimated 7% net interest income boost, and that sensitivity is driven by a decent mix of floating/variable-rate loans, a good non-interest-bearing deposit base, and opportunities to deploy more capital into higher-yielding loans and securities, with a loan/deposit ratio below 80% and around 11% of earning assets in cash. On that latter point alone, management estimates that its cash holdings reduced net interest margin by close to 0.3% in the fourth quarter.</p> <p>Loan growth is another important part of leveraging that tightening cycle. Loans rose more than 2% quarter over quarter (or about 10% annualized) on an adjusted basis, marking three quarters of above-average loan growth of 7.5% (annualized) or better. C&amp;I lending growth was even stronger, improving to 7% on a qoq basis, which was quite a bit better than three of those five large competitors mentioned above (M&amp;T, PNC, and Truist).</p><div></div> <p>Management is looking for loans to grow at a mid-to-high single-digit rate in 2022 on an organic basis, and that looks like an achievable target. A large part of the growth F.N.B. is seeing is coming from new originations, and as credit line utilization normalizes (from around 36% in Q4'21 toward its historical range of 40% to 45%), that should help continue the momentum. I also like F.N.B.'s leverage to specialty lending opportunities like its Physicians First program.</p> <p>Longer term, I like F.N.B.'s leverage to the faster-growing markets in North Carolina, but management is going to have their work cut out here, with banks like <strong>Bank OZK</strong> (OZK), <strong>Fifth Third</strong> (FITB), <strong>Pinnacle</strong> (PNFP), and PNC, all competing hard for business, not to mention the aforementioned large banks (Bank of America, et al), and newer entrants like <strong>JPMorgan</strong> (JPM) and <strong>U.S. Bank</strong> (USB).</p> <h2><strong>The Outlook</strong></h2> <p>There are reasons I didn't like F.N.B. before and there is still work to be done here. Although F.N.B.'s efficiency ratio is more or less on par with similarly-sized Mid-Atlantic banks, the ROTCE is noticeably lower (by around 200bp), and I want to see profitability improve. Deploying more under-utilized capital into lending should certainly help, and F.N.B. should be able to generate high single-digit to low double-digit pre-provision profit growth over the next two or three years - if they can and do, that will help ease some of my concerns about the lackluster growth profile here.</p> <p>Growth, though, is still my primary concern. The changes to my model move my long-term core growth rate from just under 5% to close to 6%, but that growth rate is not substantially better than what I expect from much larger Southeastern regional banks (including banks like Truist). There's certainly room for management to exceed my expectations, but I think core growth acceleration is critical to the stock rerating higher.</p> <p>Discounting those core earnings, I do see F.N.B. priced to generate a double-digit return from here. Likewise, with a P/E-based approach using a 12x multiple on my '23 EPS estimate (a fair value close to $15.50).</p> <h2><strong>The Bottom Line</strong></h2> <p>F.N.B. does appear to be undervalued, but there are a lot of banks trading at even wider discounts to fair value, and some of them have even stronger organic growth opportunities. I do think business is trending more positively here, though, and I think the Street hasn't quite caught up yet. I acknowledge that this is a call that needs some beat-and-raise quarters to work out, but this could be the early earnings of an appealing growth inflection story.</p>\n</body></html>","source":"seekingalpha","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>Successfully Differentiating Itself On Growth Is A Key Opportunity For F.N.B.</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\">\nSuccessfully Differentiating Itself On Growth Is A Key Opportunity For F.N.B.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-18 07:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4496310-successfully-differentiating-itself-on-growth-key-opportunity-for-fnb><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>pawel.gaul/E+ via Getty Images I haven't generally been all that bullish on F.N.B. Corp (NYSE:FNB), and over the last couple of years, that has been the right call, as the shares of this Pittsburgh-...</p>\n\n<a href=\"https://seekingalpha.com/article/4496310-successfully-differentiating-itself-on-growth-key-opportunity-for-fnb\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4533":"AQR资本管理(全球第二大对冲基金)","TFC":"Truist Financial Corp","OZK":"欧扎克银行","BK4566":"资本集团","BK4211":"区域性银行","MTB":"美国制商银行","BK4501":"段永平概念","BK4559":"巴菲特持仓","JPM":"摩根大通","PNC":"PNC金融","BK4550":"红杉资本持仓","WFC":"富国银行","BK4207":"综合性银行","USB":"美国合众银行","BK4581":"高盛持仓","BK4504":"桥水持仓","SASR":"Sandy Spring Bancorp","FITB":"五三银行","BAC":"美国银行","FNB":"F.N.B. Corp","BK4553":"喜马拉雅资本持仓","PNFP":"Pinnacle Financial Partners","BK4534":"瑞士信贷持仓"},"source_url":"https://seekingalpha.com/article/4496310-successfully-differentiating-itself-on-growth-key-opportunity-for-fnb","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2220470897","content_text":"pawel.gaul/E+ via Getty Images I haven't generally been all that bullish on F.N.B. Corp (NYSE:FNB), and over the last couple of years, that has been the right call, as the shares of this Pittsburgh-based bank have underperformed peers and the S&P 500. Looking at recent results, though, and the opportunity in markets like North Carolina and Baltimore, I see more potential for worthwhile acceleration and some outperformance over its regional peers. Given F.N.B.'s appealing mix of \"big bank\" product offerings and \"small bank' service quality, I do think F.N.B. can be a share gainer in its legacy markets while also leveraging above-average growth potential in newer markets. If F.N.B. can generate around 5% to 6% long-term core earnings growth, these shares look around 10% to 20% undervalued today after basically matching its peer group since my last update. Time To Disrupt Baltimore With the Howard Bank deal done, F.N.B. now has around 3.5% share in the Baltimore market, making it the sixth largest bank by deposit share, as it leapfrogged Sandy Spring (SASR). Although I had my issues with the Howard deal, I do see opportunities for smaller banks to leverage disruption in this market. Baltimore doesn't offer the kind of flashy growth that markets like Atlanta or Charlotte offer, but there are a lot of large banks in this market - the five largest banks (Bank of America (BAC), M&T Bank (MTB), Truist (TFC), PNC (PNC), and Wells Fargo (WFC)) have about 80% share - and smaller, nimble banks like F.N.B. (and Sandy Spring) can win business by focusing on service quality and targeting smaller middle-market customers that are outside of the sweet spot of the increasingly margin-focused larger players. In addition to out-competing larger banks on service, F.N.B. can win business from smaller banks that cannot compete head-to-head with the products and service that it provides - including strong digital/online tools and capital markets/treasury management services - and cross-selling those services to pre-existing Howard Bank customers should be relatively low-hanging fruit from a revenue synergy standpoint. Good Leverage To The Growth Cycle With healthy economic activity and a new tightening cycle, banks should be entering a growth cycle for the next two or three years. F.N.B. has above-average rate sensitivity, with a 100bp rate move equating to an estimated 7% net interest income boost, and that sensitivity is driven by a decent mix of floating/variable-rate loans, a good non-interest-bearing deposit base, and opportunities to deploy more capital into higher-yielding loans and securities, with a loan/deposit ratio below 80% and around 11% of earning assets in cash. On that latter point alone, management estimates that its cash holdings reduced net interest margin by close to 0.3% in the fourth quarter. Loan growth is another important part of leveraging that tightening cycle. Loans rose more than 2% quarter over quarter (or about 10% annualized) on an adjusted basis, marking three quarters of above-average loan growth of 7.5% (annualized) or better. C&I lending growth was even stronger, improving to 7% on a qoq basis, which was quite a bit better than three of those five large competitors mentioned above (M&T, PNC, and Truist). Management is looking for loans to grow at a mid-to-high single-digit rate in 2022 on an organic basis, and that looks like an achievable target. A large part of the growth F.N.B. is seeing is coming from new originations, and as credit line utilization normalizes (from around 36% in Q4'21 toward its historical range of 40% to 45%), that should help continue the momentum. I also like F.N.B.'s leverage to specialty lending opportunities like its Physicians First program. Longer term, I like F.N.B.'s leverage to the faster-growing markets in North Carolina, but management is going to have their work cut out here, with banks like Bank OZK (OZK), Fifth Third (FITB), Pinnacle (PNFP), and PNC, all competing hard for business, not to mention the aforementioned large banks (Bank of America, et al), and newer entrants like JPMorgan (JPM) and U.S. Bank (USB). The Outlook There are reasons I didn't like F.N.B. before and there is still work to be done here. Although F.N.B.'s efficiency ratio is more or less on par with similarly-sized Mid-Atlantic banks, the ROTCE is noticeably lower (by around 200bp), and I want to see profitability improve. Deploying more under-utilized capital into lending should certainly help, and F.N.B. should be able to generate high single-digit to low double-digit pre-provision profit growth over the next two or three years - if they can and do, that will help ease some of my concerns about the lackluster growth profile here. Growth, though, is still my primary concern. The changes to my model move my long-term core growth rate from just under 5% to close to 6%, but that growth rate is not substantially better than what I expect from much larger Southeastern regional banks (including banks like Truist). There's certainly room for management to exceed my expectations, but I think core growth acceleration is critical to the stock rerating higher. Discounting those core earnings, I do see F.N.B. priced to generate a double-digit return from here. Likewise, with a P/E-based approach using a 12x multiple on my '23 EPS estimate (a fair value close to $15.50). The Bottom Line F.N.B. does appear to be undervalued, but there are a lot of banks trading at even wider discounts to fair value, and some of them have even stronger organic growth opportunities. I do think business is trending more positively here, though, and I think the Street hasn't quite caught up yet. I acknowledge that this is a call that needs some beat-and-raise quarters to work out, but this could be the early earnings of an appealing growth inflection story.","news_type":1},"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957637901,"gmtCreate":1677207485004,"gmtModify":1677207488285,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9957637901","repostId":"1189816906","repostType":4,"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957274743,"gmtCreate":1677359495883,"gmtModify":1677359499553,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957274743","repostId":"1167738406","repostType":4,"repost":{"id":"1167738406","pubTimestamp":1677283346,"share":"https://ttm.financial/m/news/1167738406?lang=&edition=fundamental","pubTime":"2023-02-25 08:02","market":"sg","language":"en","title":"SGX Weekly Review: SATS, ARA US Hospitality Trust, Nanofilm Technologies and Singapore’s Inflation","url":"https://stock-news.laohu8.com/highlight/detail?id=1167738406","media":"The Smart Investor","summary":"Welcome to the latest edition of top stock market highlights.SATS Ltd (SGX: S58)Investors have been ","content":"<html><head></head><body><p>Welcome to the latest edition of top stock market highlights.</p><h2><b>SATS Ltd (SGX: S58)</b></h2><p>Investors have been waiting with bated breath for news on SATS’ rights issue ever since the ground handler announced itsS$1.6 billion transformative acquisition.</p><p>Just this week, the airline food catering group finally announced the details of this rights issue.</p><p>A shareholder is entitled to subscribe to 323 rights shares for every 1,000 existing shares at an issue price of S$2.20 per rights share.</p><p>This issue price represents a 16% discount to the theoretical ex-rights price based on the closing price of S$2.75 for SATS before the announcement of the rights issue.</p><p>Temasek Holdings, which owns close to 40% of SATS, will take up its pro-rata entitlement to the rights issue while the remainder will be underwritten by five banks which include Singapore’s three local banks along with<b>Citigroup</b>(NYSE: C) and<b>Bank of America</b>(NYSE: BAC).</p><p>SATS’ shares will trade cum rights up till 28 February and will go “ex-rights” on 1 March.</p><p>Investors should note that the total cost of the acquisition will be funded via this rights issue as well as the issuance of a three-year Euro-denominated bond of around S$700 million plus the group’s internal cash balance.</p><h2><b>ARA US Hospitality Trust (SGX: XZL)</b></h2><p>ARA US Hospitality Trust, or ARAHT, is a hospitality trust that owns 36 select-service hotels with 4,707 rooms across 19 states in the US.</p><p>The hotel brands include Hyatt Place and Hyatt House under the<b>Hyatt Hotels Corporation</b>(NYSE: H), and AC Hotels, Courtyard, and Residence Inn, brands that are parked under<b>Marriott International</b>(NASDAQ: MAR).</p><p>ARAHT reported a sharp recovery for its 2022 results along with an increase in its portfolio’s valuation.</p><p>Revenue jumped 29.3% year on year to US$169 million as pent-up travel demand led to a surge in bookings for the trust’s hotels.</p><p>Net property income surged by 66.4% year on year to US$41.4 million and distributable income shot up more than eightfold year on year to US$17.5 million.</p><p>ARAHT’s distribution per stapled security (DPSS) soared 760% year on year from US$0.00355 to US$0.03054.</p><p>The trust also enjoyed stronger operating metrics, with the occupancy rate across its portfolio rising by 8.2 percentage points year on year to 65.3%.</p><p>Average Daily Rate climbed by 17.2% year on year to US$131 while revenue per available room climbed by 33.9% year on year to US$85.</p><p>To add icing to the cake, ARAHT’s portfolio also saw a 9.4% year on year valuation uplift to US$747.8 million.</p><p>The increase in asset value and a slight decline in total debt allowed the trust’s aggregate leverage to dip below 40% from 44.3% a year ago.</p><p>However, the cost of debt rose from 3.4% in 2021 to 3.8% in 2022, but ARAHT had 82% of its borrowings on fixed rates to mitigate the impact of higher finance costs.</p><h2><b>Nanofilm Technologies International Ltd (SGX: MZH)</b></h2><p>Nanofilm reported a tough 2022 as geopolitical tensions impacted supply chains and customers delayed their capital spending.</p><p>The group reported a 3.8% year on year dip in revenue to S$237.4 million.</p><p>Net profit, however, fell by 29.6% year on year to S$43.8 million due to higher selling, distribution, and administrative expenses.</p><p>Nanofilm’s core division, Advanced Materials, saw revenue dip by 3.6% year on year to S$187.2 million.</p><p>The decline was somewhat offset by a more than year on year doubling of revenue for its Nanofabrication business unit to S$19.1 million.</p><p>Its Industrial Equipment business unit, however, saw revenue plunge nearly 31% year on year to S$30.9 million as customers withheld orders because of uncertain business conditions.</p><p>Despite the poorer results, Nanofilm managed to generate a positive free cash flow of S$10.3 million for 2022, a reversal from the negative free cash flow of S$34.5 million in the previous year.</p><p>The group raised its finaldividendby 10% year on year to S$0.011 despite the weaker results.</p><p>Nanofilm has warned that 2023 will continue to be “challenging” but that it will continue to execute its strategic plans to grow the business to achieve its target of S$500 million in revenue and S$100 million in net profit by 2025.</p><h2><b>Singapore’s inflation rate</b></h2><p>The first month of 2023 has continued the trend ofhigh inflationwitnessed last year.</p><p>Singapore’s core inflation weighed in at 5.5% year on year for January and was at its highest level since November 2008.</p><p>The increase was driven by the rise in the Goods and Services Tax from 7% to 8%.</p><p>The headline inflation rate stood at 6.6%, slightly above the 6.5% recorded in December 2022.</p><p>Food inflation was the main culprit this time, posting an 8.1% year on year jump as the price of prepared meals surged.</p><p>Housing rents also played a part in pushing inflation higher, with the increase registering a 5% year on year jump in accommodation inflation.</p><p>Fortunately, the government has announced its recentBudget 2023which will help to partially offset the negative effects of inflation.</p></body></html>","source":"lsy1602567310727","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>SGX Weekly Review: SATS, ARA US Hospitality Trust, Nanofilm Technologies and Singapore’s Inflation</title>\n<style 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}\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\">\nSGX Weekly Review: SATS, ARA US Hospitality Trust, Nanofilm Technologies and Singapore’s Inflation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-25 08:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/top-stock-market-highlights-sats-ara-us-hospitality-trust-nanofilm-technologies-and-singapores-inflation/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Welcome to the latest edition of top stock market highlights.SATS Ltd (SGX: S58)Investors have been waiting with bated breath for news on SATS’ rights issue ever since the ground handler announced ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/top-stock-market-highlights-sats-ara-us-hospitality-trust-nanofilm-technologies-and-singapores-inflation/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"S58.SI":"新翔集团有限公司","MZH.SI":"Nanofilm","XZL.SI":"亚腾美国酒店信托"},"source_url":"https://thesmartinvestor.com.sg/top-stock-market-highlights-sats-ara-us-hospitality-trust-nanofilm-technologies-and-singapores-inflation/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167738406","content_text":"Welcome to the latest edition of top stock market highlights.SATS Ltd (SGX: S58)Investors have been waiting with bated breath for news on SATS’ rights issue ever since the ground handler announced itsS$1.6 billion transformative acquisition.Just this week, the airline food catering group finally announced the details of this rights issue.A shareholder is entitled to subscribe to 323 rights shares for every 1,000 existing shares at an issue price of S$2.20 per rights share.This issue price represents a 16% discount to the theoretical ex-rights price based on the closing price of S$2.75 for SATS before the announcement of the rights issue.Temasek Holdings, which owns close to 40% of SATS, will take up its pro-rata entitlement to the rights issue while the remainder will be underwritten by five banks which include Singapore’s three local banks along withCitigroup(NYSE: C) andBank of America(NYSE: BAC).SATS’ shares will trade cum rights up till 28 February and will go “ex-rights” on 1 March.Investors should note that the total cost of the acquisition will be funded via this rights issue as well as the issuance of a three-year Euro-denominated bond of around S$700 million plus the group’s internal cash balance.ARA US Hospitality Trust (SGX: XZL)ARA US Hospitality Trust, or ARAHT, is a hospitality trust that owns 36 select-service hotels with 4,707 rooms across 19 states in the US.The hotel brands include Hyatt Place and Hyatt House under theHyatt Hotels Corporation(NYSE: H), and AC Hotels, Courtyard, and Residence Inn, brands that are parked underMarriott International(NASDAQ: MAR).ARAHT reported a sharp recovery for its 2022 results along with an increase in its portfolio’s valuation.Revenue jumped 29.3% year on year to US$169 million as pent-up travel demand led to a surge in bookings for the trust’s hotels.Net property income surged by 66.4% year on year to US$41.4 million and distributable income shot up more than eightfold year on year to US$17.5 million.ARAHT’s distribution per stapled security (DPSS) soared 760% year on year from US$0.00355 to US$0.03054.The trust also enjoyed stronger operating metrics, with the occupancy rate across its portfolio rising by 8.2 percentage points year on year to 65.3%.Average Daily Rate climbed by 17.2% year on year to US$131 while revenue per available room climbed by 33.9% year on year to US$85.To add icing to the cake, ARAHT’s portfolio also saw a 9.4% year on year valuation uplift to US$747.8 million.The increase in asset value and a slight decline in total debt allowed the trust’s aggregate leverage to dip below 40% from 44.3% a year ago.However, the cost of debt rose from 3.4% in 2021 to 3.8% in 2022, but ARAHT had 82% of its borrowings on fixed rates to mitigate the impact of higher finance costs.Nanofilm Technologies International Ltd (SGX: MZH)Nanofilm reported a tough 2022 as geopolitical tensions impacted supply chains and customers delayed their capital spending.The group reported a 3.8% year on year dip in revenue to S$237.4 million.Net profit, however, fell by 29.6% year on year to S$43.8 million due to higher selling, distribution, and administrative expenses.Nanofilm’s core division, Advanced Materials, saw revenue dip by 3.6% year on year to S$187.2 million.The decline was somewhat offset by a more than year on year doubling of revenue for its Nanofabrication business unit to S$19.1 million.Its Industrial Equipment business unit, however, saw revenue plunge nearly 31% year on year to S$30.9 million as customers withheld orders because of uncertain business conditions.Despite the poorer results, Nanofilm managed to generate a positive free cash flow of S$10.3 million for 2022, a reversal from the negative free cash flow of S$34.5 million in the previous year.The group raised its finaldividendby 10% year on year to S$0.011 despite the weaker results.Nanofilm has warned that 2023 will continue to be “challenging” but that it will continue to execute its strategic plans to grow the business to achieve its target of S$500 million in revenue and S$100 million in net profit by 2025.Singapore’s inflation rateThe first month of 2023 has continued the trend ofhigh inflationwitnessed last year.Singapore’s core inflation weighed in at 5.5% year on year for January and was at its highest level since November 2008.The increase was driven by the rise in the Goods and Services Tax from 7% to 8%.The headline inflation rate stood at 6.6%, slightly above the 6.5% recorded in December 2022.Food inflation was the main culprit this time, posting an 8.1% year on year jump as the price of prepared meals surged.Housing rents also played a part in pushing inflation higher, with the increase registering a 5% year on year jump in accommodation inflation.Fortunately, the government has announced its recentBudget 2023which will help to partially offset the negative effects of inflation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9969101497,"gmtCreate":1668381857320,"gmtModify":1676538046041,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9969101497","repostId":"1161914183","repostType":2,"repost":{"id":"1161914183","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":1668381236,"share":"https://ttm.financial/m/news/1161914183?lang=&edition=fundamental","pubTime":"2022-11-14 07:13","market":"us","language":"en","title":"FTX Collapse Being Scrutinized By Bahamas Authorities","url":"https://stock-news.laohu8.com/highlight/detail?id=1161914183","media":"Reuters","summary":"Bahamas, Nov 13 (Reuters) - The collapse of cryptocurrency exchange FTX is the subject of scrutiny f","content":"<html><head></head><body><p>Bahamas, Nov 13 (Reuters) - The collapse of cryptocurrency exchange FTX is the subject of scrutiny from government investigators in the Bahamas, who are looking at whether any &#34;criminal misconduct occurred,&#34; the Royal Bahamas Police said on Sunday.</p><p>FTX filed for bankruptcy on Friday, one of the highest profile crypto blowups, after traders rushed to withdraw $6 billion from the platform in just 72 hours and rival exchange Binance abandoned a proposed rescue deal.</p><p>In a statement on Sunday, the Royal Bahamas Police said: &#34;In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd, a team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred.&#34;</p><p>FTX did not respond to Reuters&#39; request for comment.</p><p>FTX&#39;s newly appointed Chief Executive John J. Ray III, a restructuring expert who took over after the bankruptcy filing, said on Saturday that the company was working with law enforcement and regulators to mitigate the problem, and was making &#34;every effort to secure all assets, wherever located.&#34;</p><p>The exchange&#39;s dramatic fall from grace has seen its 30-year-old founder Sam Bankman-Fried, known for his shorts and T-shirt attire, morph from being the poster child of crypto&#39;s successes to the protagonist of the industry&#39;s biggest crash.</p><p>Bankman-Fried, who lives in the Bahamas, has also been the subject of speculation about his whereabouts and he denied rumors on Twitter that he had flown to South America. When asked by Reuters on Saturday whether he had flown to Argentina, he responded in a text message: &#34;Nope&#34;. He told Reuters he was in the Bahamas.</p><p>The turmoil at FTX has seen at least $1 billion of customer funds vanish from the platform, sources told Reuters on Friday. Bankman-Fried had transferred $10 billion of customer funds to his trading company, Alameda Research, the sources said.</p><p>New problems emerged on Saturday when FTX&#39;s U.S. general counsel Ryne Miller said in a Twitter post that the firm&#39;s digital assets were being moved into so-called cold storage &#34;to mitigate damage upon observing unauthorized transactions.&#34;</p><p>Cold storage refers to crypto wallets that are not connected to the internet to guard against hackers.</p><p>Blockchain analytics firm Nansen said on Saturday it saw $659 million in outflows from FTX International and FTX U.S. in the preceding 24 hours.</p><p>Crypto exchange Kraken said on Twitter on Sunday that it froze the accounts of FTX, Alameda Research and their executives in order &#34;to protect its creditors.&#34;</p><p>The exchange did not immediately reply to a request for comment on the holdings of those accounts.</p><p>In its bankruptcy petition, FTX Trading said it has $10 billion to $50 billion in assets, $10 billion to $50 billion in liabilities, and more than 100,000 creditors.</p><p>A document that Bankman-Fried shared with investors on Thursday and was reviewed by Reuters showed FTX had $13.86 billion in liabilities and $14.6 billion in assets. However, only $900 million of those assets were liquid, leading to the cash crunch that ended with the company filing for bankruptcy.</p><p>The collapse shocked investors and prompted fresh calls to regulate the cryptoasset sector, which has seen losses stack up this year as cryptocurrency prices collapsed.</p><p>Bitcoin fell below $16,000 for the first time since 2020 on Wednesday, after Binance abandoned its rescue deal for FTX.</p><p>On Sunday it was trading around $16,400, down by more than 75% from the all-time high of $69,000 it reached in November last year.</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>FTX Collapse Being Scrutinized By Bahamas Authorities</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\">\nFTX Collapse Being Scrutinized By Bahamas Authorities\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\">2022-11-14 07:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Bahamas, Nov 13 (Reuters) - The collapse of cryptocurrency exchange FTX is the subject of scrutiny from government investigators in the Bahamas, who are looking at whether any &#34;criminal misconduct occurred,&#34; the Royal Bahamas Police said on Sunday.</p><p>FTX filed for bankruptcy on Friday, one of the highest profile crypto blowups, after traders rushed to withdraw $6 billion from the platform in just 72 hours and rival exchange Binance abandoned a proposed rescue deal.</p><p>In a statement on Sunday, the Royal Bahamas Police said: &#34;In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd, a team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred.&#34;</p><p>FTX did not respond to Reuters&#39; request for comment.</p><p>FTX&#39;s newly appointed Chief Executive John J. Ray III, a restructuring expert who took over after the bankruptcy filing, said on Saturday that the company was working with law enforcement and regulators to mitigate the problem, and was making &#34;every effort to secure all assets, wherever located.&#34;</p><p>The exchange&#39;s dramatic fall from grace has seen its 30-year-old founder Sam Bankman-Fried, known for his shorts and T-shirt attire, morph from being the poster child of crypto&#39;s successes to the protagonist of the industry&#39;s biggest crash.</p><p>Bankman-Fried, who lives in the Bahamas, has also been the subject of speculation about his whereabouts and he denied rumors on Twitter that he had flown to South America. When asked by Reuters on Saturday whether he had flown to Argentina, he responded in a text message: &#34;Nope&#34;. He told Reuters he was in the Bahamas.</p><p>The turmoil at FTX has seen at least $1 billion of customer funds vanish from the platform, sources told Reuters on Friday. Bankman-Fried had transferred $10 billion of customer funds to his trading company, Alameda Research, the sources said.</p><p>New problems emerged on Saturday when FTX&#39;s U.S. general counsel Ryne Miller said in a Twitter post that the firm&#39;s digital assets were being moved into so-called cold storage &#34;to mitigate damage upon observing unauthorized transactions.&#34;</p><p>Cold storage refers to crypto wallets that are not connected to the internet to guard against hackers.</p><p>Blockchain analytics firm Nansen said on Saturday it saw $659 million in outflows from FTX International and FTX U.S. in the preceding 24 hours.</p><p>Crypto exchange Kraken said on Twitter on Sunday that it froze the accounts of FTX, Alameda Research and their executives in order &#34;to protect its creditors.&#34;</p><p>The exchange did not immediately reply to a request for comment on the holdings of those accounts.</p><p>In its bankruptcy petition, FTX Trading said it has $10 billion to $50 billion in assets, $10 billion to $50 billion in liabilities, and more than 100,000 creditors.</p><p>A document that Bankman-Fried shared with investors on Thursday and was reviewed by Reuters showed FTX had $13.86 billion in liabilities and $14.6 billion in assets. However, only $900 million of those assets were liquid, leading to the cash crunch that ended with the company filing for bankruptcy.</p><p>The collapse shocked investors and prompted fresh calls to regulate the cryptoasset sector, which has seen losses stack up this year as cryptocurrency prices collapsed.</p><p>Bitcoin fell below $16,000 for the first time since 2020 on Wednesday, after Binance abandoned its rescue deal for FTX.</p><p>On Sunday it was trading around $16,400, down by more than 75% from the all-time high of $69,000 it reached in November last year.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161914183","content_text":"Bahamas, Nov 13 (Reuters) - The collapse of cryptocurrency exchange FTX is the subject of scrutiny from government investigators in the Bahamas, who are looking at whether any \"criminal misconduct occurred,\" the Royal Bahamas Police said on Sunday.FTX filed for bankruptcy on Friday, one of the highest profile crypto blowups, after traders rushed to withdraw $6 billion from the platform in just 72 hours and rival exchange Binance abandoned a proposed rescue deal.In a statement on Sunday, the Royal Bahamas Police said: \"In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd, a team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred.\"FTX did not respond to Reuters' request for comment.FTX's newly appointed Chief Executive John J. Ray III, a restructuring expert who took over after the bankruptcy filing, said on Saturday that the company was working with law enforcement and regulators to mitigate the problem, and was making \"every effort to secure all assets, wherever located.\"The exchange's dramatic fall from grace has seen its 30-year-old founder Sam Bankman-Fried, known for his shorts and T-shirt attire, morph from being the poster child of crypto's successes to the protagonist of the industry's biggest crash.Bankman-Fried, who lives in the Bahamas, has also been the subject of speculation about his whereabouts and he denied rumors on Twitter that he had flown to South America. When asked by Reuters on Saturday whether he had flown to Argentina, he responded in a text message: \"Nope\". He told Reuters he was in the Bahamas.The turmoil at FTX has seen at least $1 billion of customer funds vanish from the platform, sources told Reuters on Friday. Bankman-Fried had transferred $10 billion of customer funds to his trading company, Alameda Research, the sources said.New problems emerged on Saturday when FTX's U.S. general counsel Ryne Miller said in a Twitter post that the firm's digital assets were being moved into so-called cold storage \"to mitigate damage upon observing unauthorized transactions.\"Cold storage refers to crypto wallets that are not connected to the internet to guard against hackers.Blockchain analytics firm Nansen said on Saturday it saw $659 million in outflows from FTX International and FTX U.S. in the preceding 24 hours.Crypto exchange Kraken said on Twitter on Sunday that it froze the accounts of FTX, Alameda Research and their executives in order \"to protect its creditors.\"The exchange did not immediately reply to a request for comment on the holdings of those accounts.In its bankruptcy petition, FTX Trading said it has $10 billion to $50 billion in assets, $10 billion to $50 billion in liabilities, and more than 100,000 creditors.A document that Bankman-Fried shared with investors on Thursday and was reviewed by Reuters showed FTX had $13.86 billion in liabilities and $14.6 billion in assets. However, only $900 million of those assets were liquid, leading to the cash crunch that ended with the company filing for bankruptcy.The collapse shocked investors and prompted fresh calls to regulate the cryptoasset sector, which has seen losses stack up this year as cryptocurrency prices collapsed.Bitcoin fell below $16,000 for the first time since 2020 on Wednesday, after Binance abandoned its rescue deal for FTX.On Sunday it was trading around $16,400, down by more than 75% from the all-time high of $69,000 it reached in November last year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":288,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9049730548,"gmtCreate":1655849629084,"gmtModify":1676535714962,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9049730548","repostId":"2245827432","repostType":4,"repost":{"id":"2245827432","pubTimestamp":1655825437,"share":"https://ttm.financial/m/news/2245827432?lang=&edition=fundamental","pubTime":"2022-06-21 23:30","market":"us","language":"en","title":"Should You Buy Tesla Now or Wait Until After the Stock Split?","url":"https://stock-news.laohu8.com/highlight/detail?id=2245827432","media":"Motley Fool","summary":"Here's what Tesla's potential upcoming split means for investors.","content":"<html><head></head><body><p><b>KEY POINTS</b></p><ul><li>Tesla wants to split its stock 3-for-1.</li><li>The stock&#39;s valuation continues to get more attractive.</li><li>A recession could hurt Tesla&#39;s young competition.</li></ul><p>Electric-vehicle company <b>Tesla</b> recently filed a document revealing plans for a 3-for-1 stock split.</p><p>The company last split its stock in August 2020, and shares have risen 30% since then. So if you&#39;re planning to invest in Tesla, should you buy the stock now or wait until the split takes place, which needs approval from shareholders at the company&#39;s annual shareholder meeting on August 4?</p><p>The answer may surprise you; roll up your sleeves and dive in.</p><p><b>What a stock split means for investors</b></p><p>First, it is essential to know what a stock split is and what it means for investors. A stock split is when a company increases its existing total share count by a specific ratio to lower its share price. The important thing to note is the company&#39;s total market capitalization remains unchanged strictly based on the stock split.</p><p>For example, Tesla&#39;s proposed 3-for-1 split means the automaker is tripling the number of outstanding shares on the market. After the split, investors will own three shares for every share they held before the split.</p><p>If all else remains equal, the share price will fall in proportion, so if Tesla trades at $999 per share before the split, investors will have three shares at $333 each after the split.</p><p>The crucial takeaway is that a stock split doesn&#39;t make the company any more valuable; nothing fundamentally changes about the stock. The one share trading at $999 is worth the same as three shares trading at $333.</p><p>Stock splits make shares more affordable, especially for retail investors. Companies sometimes split their stock to appeal to the retail crowd; adding more shares also boosts trading volume, meaning the stock is easier to buy and sell on a brokerage.</p><p>Asking whether to buy a stock before or after a stock split is a trick question: If a split doesn&#39;t fundamentally change a stock, it shouldn&#39;t matter whether you buy now or wait. However, you can base your buying or selling of Tesla on other factors.</p><p><b>The stock is near its lowest valuation</b></p><p>Tesla began turning a bottom-line profit in 2020, so investors can value the stock with the price-to-earnings (P/E) ratio. Its P/E ratio started high when it first turned profitable, earnings per share (EPS) are now quickly growing, and the stock&#39;s valuation is coming down. The current P/E of 89 is its lowest on record.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ac0798b0c3ec9cfba2d43139124b6d4\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts.</span></p><p>Tesla still commands a considerable premium over legacy automotive companies like <b>Ford</b> and <b>General Motors</b>, which trade at a P/E of 4 and 5, respectively. However, Tesla&#39;s bottom line is swelling; analysts expect 30% annual EPS growth over the next three to five years, compared to just 3% for Ford and 10% for General Motors.</p><p>It seems that Tesla deserves the premium valuation it has, though the degree of that premium is up for debate. Nevertheless, if the company can grow like analysts believe it can, long-term investors could see the stock grow into its valuation over time.</p><p><b>A tough economy could hurt competitors</b></p><p>Tesla&#39;s profitability also comes at a crucial time; inflation is raging, supply chains are hurting manufacturers worldwide, and the economy could enter a recession. Mass-producing cars isn&#39;t easy, and Elon Musk has openly talked about how increasing Model 3 production nearly bankrupted his company.</p><p>A problematic economic backdrop could spell trouble for upstart competitors like <b>Lucid Group</b> and <b>Rivian Automotive</b>, which still burn significant amounts of cash. Meanwhile, Tesla is generating billions in free cash flow and sitting on $18 billion in cash on the balance sheet against just $3 billion in debt.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3025a3cedebec024cae445bbfcb48f55\" tg-width=\"720\" tg-height=\"545\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts.</span></p><p>Rivian has $16 billion in cash from IPO proceeds, while Lucid has $5 billion. This cash will buy them time, but both are trying to build more vehicles faster, which could worsen their cash burn.</p><p>A recession wouldn&#39;t help anyone, but harsh operating conditions can become a game of survival, and it&#39;s not clear that any automotive company is as financially sound right now as Tesla is.</p><p><b>Wrapping up</b></p><p>A stock split can grab headlines, but investors who buy Tesla stock should do so because of its growth and profitability. The stock could go lower over the short term, and nobody knows when a bottom might occur.</p><p>Approaching your investments with a long time horizon will give a company&#39;s fundamentals the best chance to dictate your investment returns. Good companies tend to perform well over time. You can also use a dollar-cost averaging strategy to slowly buy shares, blending your cost into an average that isn&#39;t too high or too low.</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>Should You Buy Tesla Now or Wait Until After the 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\">\nShould You Buy Tesla Now or Wait Until After the Stock Split?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-21 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/06/21/should-you-buy-tesla-now-or-wait-until-after-the-s/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSTesla wants to split its stock 3-for-1.The stock's valuation continues to get more attractive.A recession could hurt Tesla's young competition.Electric-vehicle company Tesla recently filed a...</p>\n\n<a href=\"https://www.fool.com/investing/2022/06/21/should-you-buy-tesla-now-or-wait-until-after-the-s/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2022/06/21/should-you-buy-tesla-now-or-wait-until-after-the-s/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2245827432","content_text":"KEY POINTSTesla wants to split its stock 3-for-1.The stock's valuation continues to get more attractive.A recession could hurt Tesla's young competition.Electric-vehicle company Tesla recently filed a document revealing plans for a 3-for-1 stock split.The company last split its stock in August 2020, and shares have risen 30% since then. So if you're planning to invest in Tesla, should you buy the stock now or wait until the split takes place, which needs approval from shareholders at the company's annual shareholder meeting on August 4?The answer may surprise you; roll up your sleeves and dive in.What a stock split means for investorsFirst, it is essential to know what a stock split is and what it means for investors. A stock split is when a company increases its existing total share count by a specific ratio to lower its share price. The important thing to note is the company's total market capitalization remains unchanged strictly based on the stock split.For example, Tesla's proposed 3-for-1 split means the automaker is tripling the number of outstanding shares on the market. After the split, investors will own three shares for every share they held before the split.If all else remains equal, the share price will fall in proportion, so if Tesla trades at $999 per share before the split, investors will have three shares at $333 each after the split.The crucial takeaway is that a stock split doesn't make the company any more valuable; nothing fundamentally changes about the stock. The one share trading at $999 is worth the same as three shares trading at $333.Stock splits make shares more affordable, especially for retail investors. Companies sometimes split their stock to appeal to the retail crowd; adding more shares also boosts trading volume, meaning the stock is easier to buy and sell on a brokerage.Asking whether to buy a stock before or after a stock split is a trick question: If a split doesn't fundamentally change a stock, it shouldn't matter whether you buy now or wait. However, you can base your buying or selling of Tesla on other factors.The stock is near its lowest valuationTesla began turning a bottom-line profit in 2020, so investors can value the stock with the price-to-earnings (P/E) ratio. Its P/E ratio started high when it first turned profitable, earnings per share (EPS) are now quickly growing, and the stock's valuation is coming down. The current P/E of 89 is its lowest on record.Data by YCharts.Tesla still commands a considerable premium over legacy automotive companies like Ford and General Motors, which trade at a P/E of 4 and 5, respectively. However, Tesla's bottom line is swelling; analysts expect 30% annual EPS growth over the next three to five years, compared to just 3% for Ford and 10% for General Motors.It seems that Tesla deserves the premium valuation it has, though the degree of that premium is up for debate. Nevertheless, if the company can grow like analysts believe it can, long-term investors could see the stock grow into its valuation over time.A tough economy could hurt competitorsTesla's profitability also comes at a crucial time; inflation is raging, supply chains are hurting manufacturers worldwide, and the economy could enter a recession. Mass-producing cars isn't easy, and Elon Musk has openly talked about how increasing Model 3 production nearly bankrupted his company.A problematic economic backdrop could spell trouble for upstart competitors like Lucid Group and Rivian Automotive, which still burn significant amounts of cash. Meanwhile, Tesla is generating billions in free cash flow and sitting on $18 billion in cash on the balance sheet against just $3 billion in debt.Data by YCharts.Rivian has $16 billion in cash from IPO proceeds, while Lucid has $5 billion. This cash will buy them time, but both are trying to build more vehicles faster, which could worsen their cash burn.A recession wouldn't help anyone, but harsh operating conditions can become a game of survival, and it's not clear that any automotive company is as financially sound right now as Tesla is.Wrapping upA stock split can grab headlines, but investors who buy Tesla stock should do so because of its growth and profitability. The stock could go lower over the short term, and nobody knows when a bottom might occur.Approaching your investments with a long time horizon will give a company's fundamentals the best chance to dictate your investment returns. Good companies tend to perform well over time. You can also use a dollar-cost averaging strategy to slowly buy shares, blending your cost into an average that isn't too high or too low.","news_type":1},"isVote":1,"tweetType":1,"viewCount":633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860211477,"gmtCreate":1632181949799,"gmtModify":1676530718374,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/FVRR\">$Fiverr International Ltd.(FVRR)$</a>Making profit&nbsp;","listText":"<a href=\"https://laohu8.com/S/FVRR\">$Fiverr International Ltd.(FVRR)$</a>Making profit&nbsp;","text":"$Fiverr International Ltd.(FVRR)$Making profit","images":[{"img":"https://static.tigerbbs.com/d86facbbf4d7d3e62b8e8e7f8e6d3520","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/860211477","isVote":1,"tweetType":1,"viewCount":418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9949526670,"gmtCreate":1678767707890,"gmtModify":1678767711511,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949526670","repostId":"2318942637","repostType":4,"isVote":1,"tweetType":1,"viewCount":329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9075165900,"gmtCreate":1658179017500,"gmtModify":1676536115141,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9075165900","repostId":"2252476857","repostType":4,"repost":{"id":"2252476857","pubTimestamp":1658131115,"share":"https://ttm.financial/m/news/2252476857?lang=&edition=fundamental","pubTime":"2022-07-18 15:58","market":"us","language":"en","title":"SPY: Buy Signal Short Term (Technical Analysis)","url":"https://stock-news.laohu8.com/highlight/detail?id=2252476857","media":"Seekingalpha","summary":"SummaryThis is a technical analysis article. We don't predict. Instead, we act on the short term buy","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>This is a technical analysis article. We don&#39;t predict. Instead, we act on the short term buy signal we now see and you can see on the chart.</li><li>The SPY just put in place a &#34;higher-low&#34; in price and you can see that on the chart. You can also see what happened the last time it did this.</li><li>Price reached higher last time this happened, looking for a &#34;higher-high&#34; in price. Did it find it? Yes.</li><li>The good news: price has not gone down to retest support at $364. Instead it keeps reaching for $392.</li><li>If it triggers our Buy Alert above $392, we think it will reach for $404. Any move higher, in a bear market is difficult and you can see the struggle going on here.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0942ec404ebc02752e62408a90fefc89\" tg-width=\"1080\" tg-height=\"607\" referrerpolicy=\"no-referrer\"/><span>JuSun/iStock via Getty Images</span></p><p>This old, bear market (NYSEARCA:SPY) is struggling to move higher and needs all the help it can get. It had some good news on inflation and consumer spending and maybe that is why we are seeinga positive, &#34;higher-low&#34; in price for the SPY. Last time this happened, in this bear market, price moved up to a &#34;higher-high&#34; and that would imply a target now of around $412.</p><p><b>Our Buy And Sell Alerts</b></p><p>Are we predicting that price is going to $412? No. We wait for the signals to tell us what to do next. We have set our buy alert at $396 and if that is triggered, we will wait to see if it reaches $404. If price breaks above $404, we may think about $412.</p><p>If price does reach that $412 level, does it mean that we are out of the bear market? Hardly. You can see it happened last time, and the bear continued on its downward path. If that happens again, we have sell alerts set up to trigger and prompt us to play the downside, just as the buy alerts prompt us to play the upside.</p><p>When this bounce tops out, as we expect it will, then we are looking at a retest of support at $364. We have a sell alert set at $362, and if that is triggered, we expect this bear market to continue down to test $341 by October. Are we predicting $341? No. We will let the signals tell us and act accordingly.</p><p><b>Short Term vs. Long Term</b></p><p>Below is the daily chart and we only use it to see the price trends and price action on a daily basis. On a day to day basis, price is reacting to every headline and that is why it is more important to look at the overall trendlines. As you can see, the trendlines are pointed down. The blue arrow is dropping even more sharply than the red arrow. That&#39;s bearish. (We have also drawn support and resistance lines across the price chart.)</p><p><b>Little Bounce vs. Big Bounce</b></p><p>You can see price struggling to even reach these two, down trendlines. As you well know, bounces are going to struggle in a bear market like this. We could have a nice big bounce, that doesn&#39;t struggle, if, for instance, the war ended. If inflation turned down from the 9.1% level just reported, that would create a nice bounce. Likewise, when the Fed stops raising rates, there will be a big bounce that would probably end this bear market.</p><p>None of these big bounces seem to be on the horizon, so we expect this struggling, little bounce to top out and turn down to retest support at $364. Short term, the signals are telling us that price will slowly move higher, testing resistance levels and support levels in a zig-zag move higher. We will wait for the signals to tell us when this bounce is finished and the market is once more ready to go down and form a bottom. We don&#39;t see even the beginning of the formation of a bottom yet.</p><p><b>Long Term Downtrends</b></p><p>Here is the daily chart showing the downtrends. The signals show us how Demand and Supply are moving price from day to day. This daily swing in price is a bumpy ride to say the least:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/995b3b6f53f1cb442b1b95b06b6632d4\" tg-width=\"640\" tg-height=\"853\" referrerpolicy=\"no-referrer\"/><span>Price Testing Red Resistance Line $387 (StockCharts.com)</span></p><p><b>NOTE</b>: On the above chart, you can see that <b>CMF Money flow</b> is in the green and still climbing. The <b>MACD</b> still has a Buy Signal.<b>ADX</b> is improving as Supply is dropping and Demand is improving. The <b>Full STO</b> has reversed and is moving up from Supply to Demand. Our proprietary signal <b>SIDBUYS,</b>at the top of the chart, shows that only 6.9% of stocks in the Index have our proprietary SID Buy Signal. This signal improved with this bounce. The &#34;red cloud&#34; outlines the resistance this move up is facing. Price is trying to reach that red cloud and not having much luck.</p><p><b>Higher-Low Bounce</b></p><p>Now let&#39;s look at the more arcane <b>Point &amp; Figure chart</b> where you can see the short term, <b>higher-low, buy signal</b> and I have underlined it in blue. Above this latest signal, I have underlined in blue the last time this happened. I circled the higher-high in price that it created. Let&#39;s see if it happens this time.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a22c43cf3f5165e41f15a2ea350fcb0c\" tg-width=\"640\" tg-height=\"853\" referrerpolicy=\"no-referrer\"/><span>Higher-Low Bullish Signal (StockCharts.com)</span></p><p><b>NOTE</b>: On the above chart, the bearish &#34;lower-highs&#34; are still in place. That is the challenge for the Buy Signals we see on the above charts. Putting a higher-high in place next week at $392 is what we need to see on the chart. Otherwise the SPY drops back to test support at $372. That red line going down reminds us that the SPY is in a bear market, and a bounce like this one is going to have a tough time moving higher. That is why we keep seeing the price reversals on this chart.</p></body></html>","source":"seekingalpha","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>SPY: Buy Signal Short Term (Technical Analysis)</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\">\nSPY: Buy Signal Short Term (Technical Analysis)\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-18 15:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4523847-spy-buy-signal-short-term-technical-analysis><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryThis is a technical analysis article. We don't predict. Instead, we act on the short term buy signal we now see and you can see on the chart.The SPY just put in place a \"higher-low\" in price ...</p>\n\n<a href=\"https://seekingalpha.com/article/4523847-spy-buy-signal-short-term-technical-analysis\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://seekingalpha.com/article/4523847-spy-buy-signal-short-term-technical-analysis","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2252476857","content_text":"SummaryThis is a technical analysis article. We don't predict. Instead, we act on the short term buy signal we now see and you can see on the chart.The SPY just put in place a \"higher-low\" in price and you can see that on the chart. You can also see what happened the last time it did this.Price reached higher last time this happened, looking for a \"higher-high\" in price. Did it find it? Yes.The good news: price has not gone down to retest support at $364. Instead it keeps reaching for $392.If it triggers our Buy Alert above $392, we think it will reach for $404. Any move higher, in a bear market is difficult and you can see the struggle going on here.JuSun/iStock via Getty ImagesThis old, bear market (NYSEARCA:SPY) is struggling to move higher and needs all the help it can get. It had some good news on inflation and consumer spending and maybe that is why we are seeinga positive, \"higher-low\" in price for the SPY. Last time this happened, in this bear market, price moved up to a \"higher-high\" and that would imply a target now of around $412.Our Buy And Sell AlertsAre we predicting that price is going to $412? No. We wait for the signals to tell us what to do next. We have set our buy alert at $396 and if that is triggered, we will wait to see if it reaches $404. If price breaks above $404, we may think about $412.If price does reach that $412 level, does it mean that we are out of the bear market? Hardly. You can see it happened last time, and the bear continued on its downward path. If that happens again, we have sell alerts set up to trigger and prompt us to play the downside, just as the buy alerts prompt us to play the upside.When this bounce tops out, as we expect it will, then we are looking at a retest of support at $364. We have a sell alert set at $362, and if that is triggered, we expect this bear market to continue down to test $341 by October. Are we predicting $341? No. We will let the signals tell us and act accordingly.Short Term vs. Long TermBelow is the daily chart and we only use it to see the price trends and price action on a daily basis. On a day to day basis, price is reacting to every headline and that is why it is more important to look at the overall trendlines. As you can see, the trendlines are pointed down. The blue arrow is dropping even more sharply than the red arrow. That's bearish. (We have also drawn support and resistance lines across the price chart.)Little Bounce vs. Big BounceYou can see price struggling to even reach these two, down trendlines. As you well know, bounces are going to struggle in a bear market like this. We could have a nice big bounce, that doesn't struggle, if, for instance, the war ended. If inflation turned down from the 9.1% level just reported, that would create a nice bounce. Likewise, when the Fed stops raising rates, there will be a big bounce that would probably end this bear market.None of these big bounces seem to be on the horizon, so we expect this struggling, little bounce to top out and turn down to retest support at $364. Short term, the signals are telling us that price will slowly move higher, testing resistance levels and support levels in a zig-zag move higher. We will wait for the signals to tell us when this bounce is finished and the market is once more ready to go down and form a bottom. We don't see even the beginning of the formation of a bottom yet.Long Term DowntrendsHere is the daily chart showing the downtrends. The signals show us how Demand and Supply are moving price from day to day. This daily swing in price is a bumpy ride to say the least:Price Testing Red Resistance Line $387 (StockCharts.com)NOTE: On the above chart, you can see that CMF Money flow is in the green and still climbing. The MACD still has a Buy Signal.ADX is improving as Supply is dropping and Demand is improving. The Full STO has reversed and is moving up from Supply to Demand. Our proprietary signal SIDBUYS,at the top of the chart, shows that only 6.9% of stocks in the Index have our proprietary SID Buy Signal. This signal improved with this bounce. The \"red cloud\" outlines the resistance this move up is facing. Price is trying to reach that red cloud and not having much luck.Higher-Low BounceNow let's look at the more arcane Point & Figure chart where you can see the short term, higher-low, buy signal and I have underlined it in blue. Above this latest signal, I have underlined in blue the last time this happened. I circled the higher-high in price that it created. Let's see if it happens this time.Higher-Low Bullish Signal (StockCharts.com)NOTE: On the above chart, the bearish \"lower-highs\" are still in place. That is the challenge for the Buy Signals we see on the above charts. Putting a higher-high in place next week at $392 is what we need to see on the chart. Otherwise the SPY drops back to test support at $372. That red line going down reminds us that the SPY is in a bear market, and a bounce like this one is going to have a tough time moving higher. That is why we keep seeing the price reversals on this chart.","news_type":1},"isVote":1,"tweetType":1,"viewCount":502,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9046500935,"gmtCreate":1656370133327,"gmtModify":1676535813013,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046500935","repostId":"2246790640","repostType":4,"repost":{"id":"2246790640","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":1656342785,"share":"https://ttm.financial/m/news/2246790640?lang=&edition=fundamental","pubTime":"2022-06-27 23:13","market":"us","language":"en","title":"U.S. Supreme Court Won't Hear Apple's Bid to Revive Qualcomm Patent Challenges","url":"https://stock-news.laohu8.com/highlight/detail?id=2246790640","media":"Reuters","summary":"The U.S. Supreme Court on Monday declined to hear Apple Inc's    bid to revive an effort to cancel t","content":"<html><head></head><body><p>The U.S. Supreme Court on Monday declined to hear Apple Inc&#39;s    bid to revive an effort to cancel two Qualcomm Inc    smartphone patents despite the global settlement of the underlying dispute between the two tech giants.</p><p>The justices turned away Apple&#39;s appeal of a lower court&#39;s ruling that the Cupertino, California-based company lacked standing to pursue the matter because of the settlement. Apple had argued that it should be allowed to appeal because San Diego-based Qualcomm could sue again after the settlement ends.</p><p>Qualcomm sued Apple in San Diego federal court in 2017, arguing that its iPhones, iPads and Apple Watches infringed a variety of Qualcomm mobile-technology patents. That case was <a href=\"https://laohu8.com/S/AONE.U\">one</a> element of a broader dispute between the rivals.</p><p>Apple challenged the validity of the two patents at issue at the Patent and Trademark Office&#39;s Patent Trial and Appeal Board.</p><p>The parties settled their litigation in 2019, signing an agreement worth billions of dollars that allowed Apple to continue using Qualcomm chips in iPhones. The settlement also featured a license to tens of thousands of Qualcomm patents, including the two at issue, but allowed the patent board case to continue.</p><p>The board ruled in favor of Qualcomm. The U.S. Court of Appeals for the Federal Circuit, which specializes in patent law, dismissed Apple&#39;s appeal last year based on the settlement. The Federal Circuit rejected Apple&#39;s contention that its royalty payments and risk of being sued again justified hearing the case on the merits.</p><p>Apple told the Supreme Court that it still faced the risk of litigation after the agreement expires in 2025, or in 2027 if the settlement term is extended. Qualcomm already sued once, has &#34;not disclaimed its intention to do so again,&#34; and has a &#34;history of aggressively enforcing its patents,&#34; Apple said.</p><p>Qualcomm asked the justices to reject the appeal, arguing Apple had not shown any concrete injury that would give it proper legal standing.</p><p>President Joe Biden&#39;s administration urged the Supreme Court to reject the appeal in a brief in May.</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>U.S. Supreme Court Won't Hear Apple's Bid to Revive Qualcomm Patent Challenges</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\">\nU.S. Supreme Court Won't Hear Apple's Bid to Revive Qualcomm Patent Challenges\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\">2022-06-27 23:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The U.S. Supreme Court on Monday declined to hear Apple Inc&#39;s    bid to revive an effort to cancel two Qualcomm Inc    smartphone patents despite the global settlement of the underlying dispute between the two tech giants.</p><p>The justices turned away Apple&#39;s appeal of a lower court&#39;s ruling that the Cupertino, California-based company lacked standing to pursue the matter because of the settlement. Apple had argued that it should be allowed to appeal because San Diego-based Qualcomm could sue again after the settlement ends.</p><p>Qualcomm sued Apple in San Diego federal court in 2017, arguing that its iPhones, iPads and Apple Watches infringed a variety of Qualcomm mobile-technology patents. That case was <a href=\"https://laohu8.com/S/AONE.U\">one</a> element of a broader dispute between the rivals.</p><p>Apple challenged the validity of the two patents at issue at the Patent and Trademark Office&#39;s Patent Trial and Appeal Board.</p><p>The parties settled their litigation in 2019, signing an agreement worth billions of dollars that allowed Apple to continue using Qualcomm chips in iPhones. The settlement also featured a license to tens of thousands of Qualcomm patents, including the two at issue, but allowed the patent board case to continue.</p><p>The board ruled in favor of Qualcomm. The U.S. Court of Appeals for the Federal Circuit, which specializes in patent law, dismissed Apple&#39;s appeal last year based on the settlement. The Federal Circuit rejected Apple&#39;s contention that its royalty payments and risk of being sued again justified hearing the case on the merits.</p><p>Apple told the Supreme Court that it still faced the risk of litigation after the agreement expires in 2025, or in 2027 if the settlement term is extended. Qualcomm already sued once, has &#34;not disclaimed its intention to do so again,&#34; and has a &#34;history of aggressively enforcing its patents,&#34; Apple said.</p><p>Qualcomm asked the justices to reject the appeal, arguing Apple had not shown any concrete injury that would give it proper legal standing.</p><p>President Joe Biden&#39;s administration urged the Supreme Court to reject the appeal in a brief in May.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4561":"索罗斯持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","AAPL":"苹果","BK4507":"流媒体概念","BK4534":"瑞士信贷持仓","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4575":"芯片概念","QCOM":"高通","BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4141":"半导体产品","BK4574":"无人驾驶","BK4573":"虚拟现实"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2246790640","content_text":"The U.S. Supreme Court on Monday declined to hear Apple Inc's    bid to revive an effort to cancel two Qualcomm Inc    smartphone patents despite the global settlement of the underlying dispute between the two tech giants.The justices turned away Apple's appeal of a lower court's ruling that the Cupertino, California-based company lacked standing to pursue the matter because of the settlement. Apple had argued that it should be allowed to appeal because San Diego-based Qualcomm could sue again after the settlement ends.Qualcomm sued Apple in San Diego federal court in 2017, arguing that its iPhones, iPads and Apple Watches infringed a variety of Qualcomm mobile-technology patents. That case was one element of a broader dispute between the rivals.Apple challenged the validity of the two patents at issue at the Patent and Trademark Office's Patent Trial and Appeal Board.The parties settled their litigation in 2019, signing an agreement worth billions of dollars that allowed Apple to continue using Qualcomm chips in iPhones. The settlement also featured a license to tens of thousands of Qualcomm patents, including the two at issue, but allowed the patent board case to continue.The board ruled in favor of Qualcomm. The U.S. Court of Appeals for the Federal Circuit, which specializes in patent law, dismissed Apple's appeal last year based on the settlement. The Federal Circuit rejected Apple's contention that its royalty payments and risk of being sued again justified hearing the case on the merits.Apple told the Supreme Court that it still faced the risk of litigation after the agreement expires in 2025, or in 2027 if the settlement term is extended. Qualcomm already sued once, has \"not disclaimed its intention to do so again,\" and has a \"history of aggressively enforcing its patents,\" Apple said.Qualcomm asked the justices to reject the appeal, arguing Apple had not shown any concrete injury that would give it proper legal standing.President Joe Biden's administration urged the Supreme Court to reject the appeal in a brief in May.","news_type":1},"isVote":1,"tweetType":1,"viewCount":357,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9057820458,"gmtCreate":1655504186274,"gmtModify":1676535650791,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9057820458","repostId":"1105210003","repostType":4,"repost":{"id":"1105210003","pubTimestamp":1655478634,"share":"https://ttm.financial/m/news/1105210003?lang=&edition=fundamental","pubTime":"2022-06-17 23:10","market":"us","language":"en","title":"Alibaba: A Bull Market Is Born","url":"https://stock-news.laohu8.com/highlight/detail?id=1105210003","media":"Seeking Alpha","summary":"SummaryA deep dive into the e-commerce behemoth Alibaba (BABA) depicts a multi-engine growth machine","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>A deep dive into the e-commerce behemoth Alibaba (BABA) depicts a multi-engine growth machine, at a cyclical low.</li><li>Our analysis of industry tailwinds and normalized earnings points to a huge opportunity for risk-tolerant investors.</li><li>We estimate a market-crushing return of 17% per annum for Alibaba shareholders, indicating a 5x in the decade to come.</li></ul><p><b>Investment Thesis</b></p><p>Dark days have lingered for Alibaba Group Holding (NYSE:BABA), down 65% from its high. The past year has been a true test of investors&#39; fortitude. Over the past year, geopolitical risks have surfaced. Asked why he bought into Alibaba given those risks, Charlie Munger stated, &#34;I was willing to take a little political risk to get into the better companies at the lower prices.&#34; As for the recent run-up and steep decline, legendary investor Sir John Templeton had some advice:</p><blockquote>Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.</blockquote><p>As pessimism looms, the bull market builds. We caution investors that now is not the time to trade BABA shares, but to own them. In the decade ahead, we estimate a market-crushing return of 17% per annum.</p><p><b>Know What You Own</b></p><p>Peter Lynch once advised, &#34;Know what you own, and know why you own it.&#34; Let&#39;s take a look at Alibaba&#39;s multifaceted business model.</p><p>Alibaba is an expansive ecosystem of products. The pieces of Alibaba interact with each other to accomplish the company&#39;s mission: To make it easy to do business anywhere.</p><p><b>Core Commerce</b></p><p>The company&#39;s core commerce segment accounts for approximately75% of revenue. Alibaba&#39;s most important assets are its online shopping platforms Taobao, Tmall, Lazada, andAlibaba.com. Within core commerce, Alibaba makes money from advertising, customer management, subscriptions, and direct sales.</p><p>The company owns a collection of fast-growing grocery chains such as Freshippo, Sunart, and Tmall Supermarket. Although grocery has been a drag on margins, it is still an integral part of Alibaba&#39;s business empire. The Freshippo (Hema) chain even offers 30-minute delivery using smart logistics.</p><p>Despite its much smaller market cap, Alibaba is a larger e-commerce player than Amazon (AMZN). In 2020, Alibaba accounted for 29% of the e-commerce goods transacted globally:</p><p><img src=\"https://static.tigerbbs.com/687477af832cf5d2d67ff108a6c3dda8\" tg-width=\"960\" tg-height=\"456\" referrerpolicy=\"no-referrer\"/></p><p>Global E-Commerce GMV Share(Forbes)</p><p>Alibaba&#39;s combined business reached1.31 billion consumers across the world over the past year. This number continues to grow despite its scale. In China alone, the company has nearly a billion monthly active consumers on its mobile shopping platforms:</p><p><img src=\"https://static.tigerbbs.com/0f01eaafba46a3ecaaf5306394e811d3\" tg-width=\"640\" tg-height=\"399\" referrerpolicy=\"no-referrer\"/></p><p>MAU&#39;s Across Alibaba&#39;s Shopping Platforms(Statista)</p><p><b>An Expansive Ecosystem</b></p><p>Alibaba spawns new businesses where it sees an economic need in society. The company&#39;s new businesses, whether acquired or built, always support each other within the Alibaba ecosystem. The ecosystem includes Cainiao smart logistics and a digital payments app, Alipay.</p><p>Alibaba started Alipay in 2004 to help build trust between consumers and merchants in online purchases (The company now owns 33% of the FinTech parent company, Ant Group). Fast-forward to today, and mobile payments are the preferred method of payment in China. Alipay has a 54.5% share of the market:</p><p><img src=\"https://static.tigerbbs.com/b353a8f92e6920c424fc6b7c26c19854\" tg-width=\"860\" tg-height=\"809\" referrerpolicy=\"no-referrer\"/></p><p>Alipay vs. WeChat Pay Market Share(EastWestBank)</p><p>Alibaba&#39;s reach is enormous in China. The company plays an integral part in the day-to-day lives of citizens, whether it be through payment, e-commerce, groceries, delivery (Ele.me), streaming (Youku), or navigation (Amap). The company is also the lifeblood of millions and millions of small businesses.</p><p>Alibaba&#39;s reach is a powerful network effect for its rapidly growing cloud segment. Alibaba Cloud is building out its network globally, and there is a very long runway for the business. Alibaba Cloud just became profitable over the past six months, and should contribute to the company&#39;s bottom line going forward. The company still has room to grow its cloud market share:</p><p><img src=\"https://static.tigerbbs.com/a56959ac1a5611da4ea9ddd4f24b64fe\" tg-width=\"1200\" tg-height=\"1200\" referrerpolicy=\"no-referrer\"/></p><p>Global Cloud Market Share(Statista)</p><p><b>S.W.O.T. Analysis</b></p><p>To analyze what Alibaba does well, along with the risks it faces as a business, we present a S.W.O.T. analysis for the company:</p><p><img src=\"https://static.tigerbbs.com/41a651cf204eb9f2ce9034c78114b4d3\" tg-width=\"407\" tg-height=\"400\" referrerpolicy=\"no-referrer\"/></p><p>Normalized Earnings</p><p>Alibaba&#39;s normalized earnings are around $22 billion, or $8.22 per share. The company experienced several one-off hits to its earnings over the past 12 months, including a $2.8 billion fine from the government, increased ad spend on Taobao deals, poor economic conditions in China, and huge goodwill impairments. To normalize earnings, we have taken the average net income over fiscal 2020 and 2021, divided by the current shares outstanding. Keep in mind that revenue and active users have grown substantially since 2020, indicating a conservative figure.</p><p><b>Valuation</b></p><p>We estimate Alibaba will grow normalized earnings at 13% annualized over the next decade, resulting in 2032 earnings per share of $27.90.</p><ul><li>Alibaba is still growing its user count. The company is in the early stages of its international expansion in e-commerce and cloud computing. These businesses have strong industry tailwinds, allowing Alibaba to grow organically. Alibaba also benefits from China&#39;s rapidly growing middle class. As a result, the average spend on Taobao and Tmall will increase if user retention remains strong. The same is true for Alibaba&#39;s delivery, streaming, grocery, and payments assets. On top of this, the company has $39 billion of working capital on its balance sheet to buy back shares, acquire businesses, and build new businesses.</li></ul><p>Our 2032 price target for Alibaba is $488 per share, implying a return of 17% per annum.</p><ul><li>We have applied a terminal multiple of 17.5 for a business that we believe has an enduring network effect, brand, and industry tailwind.</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>Alibaba: A Bull Market Is Born</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: A Bull Market Is Born\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-17 23:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4518935-baba-stock-alibaba-a-bull-market-is-born><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryA deep dive into the e-commerce behemoth Alibaba (BABA) depicts a multi-engine growth machine, at a cyclical low.Our analysis of industry tailwinds and normalized earnings points to a huge ...</p>\n\n<a href=\"https://seekingalpha.com/article/4518935-baba-stock-alibaba-a-bull-market-is-born\">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","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4518935-baba-stock-alibaba-a-bull-market-is-born","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105210003","content_text":"SummaryA deep dive into the e-commerce behemoth Alibaba (BABA) depicts a multi-engine growth machine, at a cyclical low.Our analysis of industry tailwinds and normalized earnings points to a huge opportunity for risk-tolerant investors.We estimate a market-crushing return of 17% per annum for Alibaba shareholders, indicating a 5x in the decade to come.Investment ThesisDark days have lingered for Alibaba Group Holding (NYSE:BABA), down 65% from its high. The past year has been a true test of investors' fortitude. Over the past year, geopolitical risks have surfaced. Asked why he bought into Alibaba given those risks, Charlie Munger stated, \"I was willing to take a little political risk to get into the better companies at the lower prices.\" As for the recent run-up and steep decline, legendary investor Sir John Templeton had some advice:Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.As pessimism looms, the bull market builds. We caution investors that now is not the time to trade BABA shares, but to own them. In the decade ahead, we estimate a market-crushing return of 17% per annum.Know What You OwnPeter Lynch once advised, \"Know what you own, and know why you own it.\" Let's take a look at Alibaba's multifaceted business model.Alibaba is an expansive ecosystem of products. The pieces of Alibaba interact with each other to accomplish the company's mission: To make it easy to do business anywhere.Core CommerceThe company's core commerce segment accounts for approximately75% of revenue. Alibaba's most important assets are its online shopping platforms Taobao, Tmall, Lazada, andAlibaba.com. Within core commerce, Alibaba makes money from advertising, customer management, subscriptions, and direct sales.The company owns a collection of fast-growing grocery chains such as Freshippo, Sunart, and Tmall Supermarket. Although grocery has been a drag on margins, it is still an integral part of Alibaba's business empire. The Freshippo (Hema) chain even offers 30-minute delivery using smart logistics.Despite its much smaller market cap, Alibaba is a larger e-commerce player than Amazon (AMZN). In 2020, Alibaba accounted for 29% of the e-commerce goods transacted globally:Global E-Commerce GMV Share(Forbes)Alibaba's combined business reached1.31 billion consumers across the world over the past year. This number continues to grow despite its scale. In China alone, the company has nearly a billion monthly active consumers on its mobile shopping platforms:MAU's Across Alibaba's Shopping Platforms(Statista)An Expansive EcosystemAlibaba spawns new businesses where it sees an economic need in society. The company's new businesses, whether acquired or built, always support each other within the Alibaba ecosystem. The ecosystem includes Cainiao smart logistics and a digital payments app, Alipay.Alibaba started Alipay in 2004 to help build trust between consumers and merchants in online purchases (The company now owns 33% of the FinTech parent company, Ant Group). Fast-forward to today, and mobile payments are the preferred method of payment in China. Alipay has a 54.5% share of the market:Alipay vs. WeChat Pay Market Share(EastWestBank)Alibaba's reach is enormous in China. The company plays an integral part in the day-to-day lives of citizens, whether it be through payment, e-commerce, groceries, delivery (Ele.me), streaming (Youku), or navigation (Amap). The company is also the lifeblood of millions and millions of small businesses.Alibaba's reach is a powerful network effect for its rapidly growing cloud segment. Alibaba Cloud is building out its network globally, and there is a very long runway for the business. Alibaba Cloud just became profitable over the past six months, and should contribute to the company's bottom line going forward. The company still has room to grow its cloud market share:Global Cloud Market Share(Statista)S.W.O.T. AnalysisTo analyze what Alibaba does well, along with the risks it faces as a business, we present a S.W.O.T. analysis for the company:Normalized EarningsAlibaba's normalized earnings are around $22 billion, or $8.22 per share. The company experienced several one-off hits to its earnings over the past 12 months, including a $2.8 billion fine from the government, increased ad spend on Taobao deals, poor economic conditions in China, and huge goodwill impairments. To normalize earnings, we have taken the average net income over fiscal 2020 and 2021, divided by the current shares outstanding. Keep in mind that revenue and active users have grown substantially since 2020, indicating a conservative figure.ValuationWe estimate Alibaba will grow normalized earnings at 13% annualized over the next decade, resulting in 2032 earnings per share of $27.90.Alibaba is still growing its user count. The company is in the early stages of its international expansion in e-commerce and cloud computing. These businesses have strong industry tailwinds, allowing Alibaba to grow organically. Alibaba also benefits from China's rapidly growing middle class. As a result, the average spend on Taobao and Tmall will increase if user retention remains strong. The same is true for Alibaba's delivery, streaming, grocery, and payments assets. On top of this, the company has $39 billion of working capital on its balance sheet to buy back shares, acquire businesses, and build new businesses.Our 2032 price target for Alibaba is $488 per share, implying a return of 17% per annum.We have applied a terminal multiple of 17.5 for a business that we believe has an enduring network effect, brand, and industry tailwind.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030899876,"gmtCreate":1645672714362,"gmtModify":1676534052340,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030899876","repostId":"1195778366","repostType":2,"repost":{"id":"1195778366","pubTimestamp":1645668088,"share":"https://ttm.financial/m/news/1195778366?lang=&edition=fundamental","pubTime":"2022-02-24 10:01","market":"us","language":"en","title":"Meta Platforms Shares Can Sink as It Avoids Renting Out Data Centers","url":"https://stock-news.laohu8.com/highlight/detail?id=1195778366","media":"investorplace","summary":"Since disappointing earnings sent shares down 20% early this month, analysts have been predicting a ","content":"<html><head></head><body><p>Since disappointing earnings sent shares down 20% early this month, analysts have been predicting a comeback for Meta Platforms (NASDAQ:FB). But that’s not happening with FB stock.</p><p>Shares were due to open Feb. 22 at $203.50. The post-earnings plunge had it at $240 per share. The market cap is down to $560 billion. The price-to-earnings (P/E) ratio is below 15.</p><p>This is not about macroeconomic headwinds or Ukraine. Snap (NYSE:SNAP) is up 8.7% this month. Twitter (NYSE:TWTR) is down, but by just 3.5%. The problem is the children want ByteDance’s TikTok. The company’s user base is aging. On top of that, its approach to its data centers is questionable at best.</p><p>Mark Zuckerberg may be the Henry Ford of social technology. But that’s a double-edged sword for FB stock.</p><h2>Meta Risks Losing the Metaverse Race</h2><p>Like the Ford Motor Company (NYSE:F) founder, Zuckerberg controls his company’s stock. But he is getting into a market war he cannot win.</p><p>Zuckerberg has put billions into capital spending this year, mostly for software engineering his vision of the “metaverse.” That’s a combination of augmented reality (AR), virtual reality (VR), gaming and finance, all layered on top of existing cloud-based systems.</p><p>The metaverse is the biggest technology vision since the Web was spun a quarter-century ago. It will require new clients, a lot of bandwidth and very low latency. It’s the job of a decade, not just a year or two. Meta’s hardware is not designed to handle it.</p><p>Meta is a “Cloud Czar” because it has hyperscale data centers around the world. These centers were bought with cash flow. Once opened, they drop the company’s hardware and scaling costs to near-zero.</p><p>This is what makes Meta so profitable. You can count the companies sharing this advantage on one hand – Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) and Amazon (NASDAQ:AMZN).</p><h2>Meta Platforms’ Data Center Problem</h2><p>The problem for Meta is where the centers are located. There are 15 built or under construction in the U.S. Additionally, three are in Europe and one is in Singapore.</p><p>But many of the company’s fans are in the Global South: India, Southeast Asia, Africa, and South America. Many people in these areas use Facebook, Instagram and WhatsApp to connect to global economies and discussions. They’re not getting the metaverse.</p><p>We’re already finding Cloud Czars stumbling under the load of cloud gaming, which is a first step toward the metaverse. For example, Google’s Stadia is quietly going away.</p><p>The new buzzword is the Cloudless Cloud, and smaller, “edge” data centers closer to customers for high bandwidth, low latency applications.</p><h2>FB Stock Is Losing Its Fans</h2><p>Zuckerberg refuses to rent cloud capacity. He has continually ignored government warnings about how the company handles data. The CEO is offering former politician Nick Clegg as “vice-president for global affairs.”  That means Clegg is supposed to sell Zuckerberg’s plans. It doesn’t mean he’s making decisions.</p><p>For the other Cloud Czars, the problem of too much capacity is solved by renting the excess. Amazon, Microsoft and Google are fighting to host the world’s data. Meta isn’t.</p><p>Just supporting other, similar software applications with storage and bandwidth would be enough to please Wall Street. But Zuckerberg won’t do it.</p><p>That’s why, even at its current price, analysts are tip-toeing away from FB stock. 11 of 44 analysts tracked by Tipranks are now in the “hold” camp.</p><h2>The Bottom Line on FB Stock</h2><p>Meta Platforms can still be saved — but not if Zuckerberg persists in ignoring the danger all around it.</p><p>For now, he seems intent on doing just that. He sees his broken product model as a marketing problem. He refuses to let other companies use his data centers. He’s defiant. He controls the board, and he controls the stock.</p><p>Mark Zuckerberg is just 37. But history shows Ford fell hard after its initial success. General Motors (NYSE:GM) passed it with a more organized, even bureaucratic approach. Ford himself wound up as an isolationist, out of step with his time.</p><p>Without World War II and the more-professional leadership of its founder’s grandson, Henry Ford II, the company may have failed. Meta Platforms still might.</p></body></html>","source":"lsy1606302653667","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>Meta Platforms Shares Can Sink as It Avoids Renting Out Data Centers</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\">\nMeta Platforms Shares Can Sink as It Avoids Renting Out Data Centers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-24 10:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/02/meta-platforms-shares-can-sink-as-it-avoids-renting-out-data-centers/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Since disappointing earnings sent shares down 20% early this month, analysts have been predicting a comeback for Meta Platforms (NASDAQ:FB). But that’s not happening with FB stock.Shares were due to ...</p>\n\n<a href=\"https://investorplace.com/2022/02/meta-platforms-shares-can-sink-as-it-avoids-renting-out-data-centers/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://investorplace.com/2022/02/meta-platforms-shares-can-sink-as-it-avoids-renting-out-data-centers/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195778366","content_text":"Since disappointing earnings sent shares down 20% early this month, analysts have been predicting a comeback for Meta Platforms (NASDAQ:FB). But that’s not happening with FB stock.Shares were due to open Feb. 22 at $203.50. The post-earnings plunge had it at $240 per share. The market cap is down to $560 billion. The price-to-earnings (P/E) ratio is below 15.This is not about macroeconomic headwinds or Ukraine. Snap (NYSE:SNAP) is up 8.7% this month. Twitter (NYSE:TWTR) is down, but by just 3.5%. The problem is the children want ByteDance’s TikTok. The company’s user base is aging. On top of that, its approach to its data centers is questionable at best.Mark Zuckerberg may be the Henry Ford of social technology. But that’s a double-edged sword for FB stock.Meta Risks Losing the Metaverse RaceLike the Ford Motor Company (NYSE:F) founder, Zuckerberg controls his company’s stock. But he is getting into a market war he cannot win.Zuckerberg has put billions into capital spending this year, mostly for software engineering his vision of the “metaverse.” That’s a combination of augmented reality (AR), virtual reality (VR), gaming and finance, all layered on top of existing cloud-based systems.The metaverse is the biggest technology vision since the Web was spun a quarter-century ago. It will require new clients, a lot of bandwidth and very low latency. It’s the job of a decade, not just a year or two. Meta’s hardware is not designed to handle it.Meta is a “Cloud Czar” because it has hyperscale data centers around the world. These centers were bought with cash flow. Once opened, they drop the company’s hardware and scaling costs to near-zero.This is what makes Meta so profitable. You can count the companies sharing this advantage on one hand – Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) and Amazon (NASDAQ:AMZN).Meta Platforms’ Data Center ProblemThe problem for Meta is where the centers are located. There are 15 built or under construction in the U.S. Additionally, three are in Europe and one is in Singapore.But many of the company’s fans are in the Global South: India, Southeast Asia, Africa, and South America. Many people in these areas use Facebook, Instagram and WhatsApp to connect to global economies and discussions. They’re not getting the metaverse.We’re already finding Cloud Czars stumbling under the load of cloud gaming, which is a first step toward the metaverse. For example, Google’s Stadia is quietly going away.The new buzzword is the Cloudless Cloud, and smaller, “edge” data centers closer to customers for high bandwidth, low latency applications.FB Stock Is Losing Its FansZuckerberg refuses to rent cloud capacity. He has continually ignored government warnings about how the company handles data. The CEO is offering former politician Nick Clegg as “vice-president for global affairs.”  That means Clegg is supposed to sell Zuckerberg’s plans. It doesn’t mean he’s making decisions.For the other Cloud Czars, the problem of too much capacity is solved by renting the excess. Amazon, Microsoft and Google are fighting to host the world’s data. Meta isn’t.Just supporting other, similar software applications with storage and bandwidth would be enough to please Wall Street. But Zuckerberg won’t do it.That’s why, even at its current price, analysts are tip-toeing away from FB stock. 11 of 44 analysts tracked by Tipranks are now in the “hold” camp.The Bottom Line on FB StockMeta Platforms can still be saved — but not if Zuckerberg persists in ignoring the danger all around it.For now, he seems intent on doing just that. He sees his broken product model as a marketing problem. He refuses to let other companies use his data centers. He’s defiant. He controls the board, and he controls the stock.Mark Zuckerberg is just 37. But history shows Ford fell hard after its initial success. General Motors (NYSE:GM) passed it with a more organized, even bureaucratic approach. Ford himself wound up as an isolationist, out of step with his time.Without World War II and the more-professional leadership of its founder’s grandson, Henry Ford II, the company may have failed. Meta Platforms still might.","news_type":1},"isVote":1,"tweetType":1,"viewCount":280,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940362952,"gmtCreate":1677709323977,"gmtModify":1677709327239,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940362952","repostId":"2316069863","repostType":4,"repost":{"id":"2316069863","pubTimestamp":1677684085,"share":"https://ttm.financial/m/news/2316069863?lang=&edition=fundamental","pubTime":"2023-03-01 23:21","market":"us","language":"en","title":"What Is the Best Tech Stock to Buy Now? Our 7 Top Picks","url":"https://stock-news.laohu8.com/highlight/detail?id=2316069863","media":"InvestorPlace","summary":"These seven tech stocks offer excellent entry points.Microsoft: The company’s focus on contesting hi","content":"<html><head></head><body><ul><li>These seven tech stocks offer excellent entry points.</li><li><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>: The company’s focus on contesting high-growth segments has the Street excited.</li><li><a href=\"https://laohu8.com/S/INTC\">Intel</a>: Intel seeks to catch up with its competitors by 2025 through domestic sources.</li><li><a href=\"https://laohu8.com/S/AMZN\">Amazon</a>: Amazon dominates the cloud and e-commerce industry with a 34% and 38% market share.</li><li><a href=\"https://laohu8.com/S/OKTA\">Okta</a>: High top-line growth will bring back the growth premium for OKTA.</li><li><a href=\"https://laohu8.com/S/YEXT\">Yext</a>: Narrowing losses and a large addressable market means there is much more room for recovery.</li><li><a href=\"https://laohu8.com/S/RIOT\">Riot Platforms</a>: Bitcoin’s (BTC-USD) halving can make its 7000 BTC stash much more valuable.</li><li><a href=\"https://laohu8.com/S/NET\">Cloudflare</a>: Cloudflare’s financials are consistently growing near 50% year-on-year.</li></ul><p>With inflation, low earnings, and expectations of higher interest rates, tech stocks have cooled off. However, this is the prime time to look for the best tech stock to buy on the pullbacks. While losses have been considerable this year, it’s not permanent. In fact, I still believe most of these companies will start reporting much better year-on-year figures once the post-covid turbulence is behind us. Therefore, buying the best tech stocks now will give investors an excellent entry point for long-term gains. Here are the top seven picks to look into:</p><table border=\"1\"><tbody><tr><td><b>MSFT</b></td><td>Microsoft</td><td>$249.16</td></tr><tr><td><b>INTC</b></td><td>Intel</td><td>$24.84</td></tr><tr><td><b>AMZN</b></td><td>Amazon</td><td>$93.98</td></tr><tr><td><b>OKTA</b></td><td>Okta</td><td>$71.15</td></tr><tr><td><b>YEXT</b></td><td>Yext</td><td>$7.36</td></tr><tr><td><b>RIOT</b></td><td>Riot Platforms</td><td>$6.22</td></tr><tr><td><b>NET</b></td><td>Cloudflare</td><td>$59.64</td></tr></tbody></table><h2></h2><h2><a href=\"https://laohu8.com/S/MSFT\">Microsoft </a></h2><p><img src=\"https://static.tigerbbs.com/47f6b1c8715f6779c55164dde59413d6\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: Asif Islam / Shutterstock.com</p><p><b>Microsoft’s</b> rollout of ChatGPT integration with Bing and high growth in its cloud segment makes it among the hottest stocks this year. Of course, Bing could still be a “nothing burger” as not many people are interested in permanently switching to Bing except for niche purposes. But the Street is certainly excited.</p><p>The company reported its fiscal Q2 2023 earnings, where its overall revenue grew 2%, but Azure and other cloud services revenue grew 31%, with Office 365 Commercial sales growing 11%. Conversely, Windows OEM and devices sales each decreased by 39%, which substantially negatively impacted top-line growth. The point is that Microsoft is slowly shaping its business away from slow-growth segments and into up-and-coming ones like Azure and Office 365. This will hurt the company’s top-line growth in the short term, but I see healthy growth metrics in the long run.</p><p>Furthermore, the cloud isn’t the only thing in which Microsoft has an edge. The company’s aggressively investing in artificial intelligence, such as its $10 billion OpenAI investment. As AI becomes more important, these investments will pay off greatly.</p><h2><a href=\"https://laohu8.com/S/INTC\">Intel </a></h2><p><img src=\"https://static.tigerbbs.com/35428f0e9fb4a3ba4685923398cf5024\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: shutterstock.com/everything possible</p><p>Tough competition with <a href=\"https://laohu8.com/S/AMD\">Advanced Micro Devices</a> and sluggish year-over-year growth have caused <a href=\"https://laohu8.com/S/INTC\">Intel</a>’s stock to plummet to decade-low valuations. However, it should be noted that the company is transforming and adapting its business for long-term success.</p><p>Intel is particularly focusing on chips for AI, announcing a $20 billion investment into domestic chip production in the U.S., unlike other semiconductor companies that are sourcing their chips from foreign sources such as <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor</a>. The CHIPS act subsidy will come in handy for the company in this regard, as Intel already reported 30% YoY growth in its foundry segment. Its Mobileye ownership is also paying dividends, with sales up 59% YoY.</p><p>Another important highlight mentioned in a recent company press release,</p><blockquote>“Intel continues to progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. Intel 7 is now in high-volume manufacturing for both client and server. Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023.”</blockquote><p>Simply put, Intel is expanding its own chip production for a more addressable market. It is also moving away from foreign sources with its own chip branding instead of using nanometers to describe its semiconductors and seeks to catch up with TSMC and AMD by 2025. If things go smoothly, Intel can become a significant chip provider for various industries in the U.S.</p><h2><a href=\"https://laohu8.com/S/AMZN\">Amazon </a></h2><p><img src=\"https://static.tigerbbs.com/5d8c777beef9fcbe72151403c6646024\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: Tada Images / Shutterstock.com</p><p><b>Amazon</b> leads the burgeoning cloud industry with Amazon Web Services. Although other companies are certainly upping their competition here, AWS remains the dominant platform with 34% of the market share. AWS has its hands in almost every industry; even <b>Ethereum</b> (<b>ETH-USD</b>) has a substantial amount of nodes that use AWS to run, while 7,500 government agencies rely on the platform. This reliance is likely to continue, even if other alternatives become more cost-effective. Accordingly, AWS segment sales increased 29% year-over-year to $80.1 billion for all of 2022.</p><p>Nevertheless, Amazon is a highly diversified company with many other promising segments to bank on. Most importantly, it is the biggest U.S. e-commerce business. It had some hiccups after the post-covid boom ended, but e-commerce is among the most promising industries in the long run. If Amazon retains its 38% market share in the industry, it could lead to sales as high as $600 billion annually from the U.S. alone by 2027.</p><h2><a href=\"https://laohu8.com/S/OKTA\">Okta </a></h2><p><img src=\"https://static.tigerbbs.com/85eeaa891ca15d8a5082c7ce82b75e95\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: Sundry Photography / Shutterstock.com</p><p><b>Okta</b> has been one of the standout performers in the technology sector post-covid, with its stock price skyrocketing by more than 130% in 2020. However, widening losses and falling growth caused worries among investors, and OKTA stock is down 75%-plus from its peak in 2021.</p><p>Regardless, the company’s top line remains stable, and I believe Okta can make a comeback as its losses are narrowing. With more and more businesses moving their operations online, Okta’s solutions are becoming increasingly essential, which has helped the company to attract a growing number of high-profile customers. Its high 37% sales growth should accelerate over the long run and bring a higher growth premium.</p><p>Indeed, the losses are unconvincing, but Okta is well-positioned to continue its impressive growth trajectory. The company is expected to benefit from the ongoing shift towards cloud-based applications and the increasing need for robust cybersecurity solutions, which should drive demand for its IAM platform. Most of the company’s cons are also already priced in, and I see little downside left.</p><h2><a href=\"https://laohu8.com/S/YEXT\">Yext </a></h2><p><img src=\"https://static.tigerbbs.com/ef123c0f44cb8643c125a3ef73012291\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: rblfmr / Shutterstock.com</p><p><b>Yext</b> is a leading provider of digital knowledge management software that helps businesses manage their online presence across multiple platforms. The stock was on a roller coaster ride over the pandemic era but began to bottom out last year and is now steadily recovering. However, I still think that its 50% recovery trough to the current year-to-date peak is not enough of a recovery, and there’s more to go.</p><p>The COVID-19 pandemic initially harmed Yext’s business, as many of its customers had to shut down their physical locations. However, the company has adapted well to the changing market conditions, focusing on expanding its digital knowledge management platform to meet the needs of businesses that have shifted their operations online. Now, online businesses are a growth catalyst for Yext.</p><p>Stock analyst Gurufocus.com does believe it could be a value trap due to its high losses. However, its most recent 10-Q filing shows that the company only spent $60.6 million on general and administrative expenses last year, with $221.5 million of gross profit. Most of its losses stem from high marketing and development spending, which can be easily cut down if needed. Therefore, I believe the company’s management sees its losses (that are narrowing) as sustainable.</p><p>Overall, it’s a high-risk, high-reward bet that might not suit all investors as the best tech stock to buy.</p><h2><a href=\"https://laohu8.com/S/RIOT\">Riot Platforms </a></h2><p><img src=\"https://static.tigerbbs.com/783635b327e5ba7814bc70de48c780ad\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: Shutterstock</p><p><b>Riot Platforms</b> is a cryptocurrency mining company that has been on a wild ride over the past year. Due to a significant drop in <b>Bitcoin</b> (<b>BTC-USD</b>) prices earlier this year, the company’s stock price has lost more than 91.5% of its value from its peak. However, this high-risk stock can deliver a long-term comeback, driven by strong demand for its mining services and the increasing adoption of cryptocurrencies by mainstream investors.</p><p>Riot’s impressive financial performance has been driven by its aggressive expansion into the cryptocurrency mining market. The company has zero debt, and buying it at this current range will likely generate oversized returns when Bitcoin increases in value. The most important catalyst for RIOT is Bitcoin’s halving in 2024.</p><p>It’ll cut mining rewards by half and likely increase its value substantially. The company could make a sharp recovery with RIOT’s 65.4% gross margin and its stash of around 7000 BTC. Naturally, a lot of speculation is involved here, and I wouldn’t recommend buying it if you only wish to invest in well-established names.</p><h2><a href=\"https://laohu8.com/S/NET\">Cloudflare </a></h2><p><img src=\"https://static.tigerbbs.com/dc4e1c6480937d07de0a6078b1b53a4a\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/></p><p>Source: IgorGolovniov / Shutterstock.com</p><p><b>Cloudflare’s</b> success can be attributed to its innovative approach to cybersecurity. The company offers a range of solutions that leverage the power of the cloud to protect against cyber attacks. The cybersecurity industry is rapidly growing despite short-term headwinds, and Cloudflare has a market share above 95% in network security. This gives the company enormous leverage over many online websites and businesses.</p><p>Moreover, as web development becomes more streamlined, Cloudflare’s dominance is only increasing due to cost-effectiveness. The company is consistently growing its top line near a 50% clip, and losses are steadily narrowing.</p><p>Gurufocus.com considers the stock “Significantly Undervalued,” with its future 3-5 year total revenue growth rate ranked better than 96.97% of its peers. Thus, consistency puts NET in the “best tech stock to buy” criteria.</p></body></html>","source":"investorplace","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>What Is the Best Tech Stock to Buy Now? 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Our 7 Top Picks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-01 23:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/02/what-is-the-best-tech-stock-to-buy-now-our-7-top-picks/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These seven tech stocks offer excellent entry points.Microsoft: The company’s focus on contesting high-growth segments has the Street excited.Intel: Intel seeks to catch up with its competitors by ...</p>\n\n<a href=\"https://investorplace.com/2023/02/what-is-the-best-tech-stock-to-buy-now-our-7-top-picks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","BK4567":"ESG概念","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4566":"资本集团","BK4587":"ChatGPT概念","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4538":"云计算","BK4559":"巴菲特持仓","BK4116":"互联网服务与基础架构","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","MSFT":"微软","BK4526":"热门中概股","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4588":"碎股","BK4122":"互联网与直销零售","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","BK4551":"寇图资本持仓","RIOT":"Riot Platforms","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","INTC":"英特尔","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","OKTA":"Okta Inc.","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","BK4097":"系统软件","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","BK4512":"苹果概念","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","YEXT":"Yext Inc.","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H"},"source_url":"https://investorplace.com/2023/02/what-is-the-best-tech-stock-to-buy-now-our-7-top-picks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2316069863","content_text":"These seven tech stocks offer excellent entry points.Microsoft: The company’s focus on contesting high-growth segments has the Street excited.Intel: Intel seeks to catch up with its competitors by 2025 through domestic sources.Amazon: Amazon dominates the cloud and e-commerce industry with a 34% and 38% market share.Okta: High top-line growth will bring back the growth premium for OKTA.Yext: Narrowing losses and a large addressable market means there is much more room for recovery.Riot Platforms: Bitcoin’s (BTC-USD) halving can make its 7000 BTC stash much more valuable.Cloudflare: Cloudflare’s financials are consistently growing near 50% year-on-year.With inflation, low earnings, and expectations of higher interest rates, tech stocks have cooled off. However, this is the prime time to look for the best tech stock to buy on the pullbacks. While losses have been considerable this year, it’s not permanent. In fact, I still believe most of these companies will start reporting much better year-on-year figures once the post-covid turbulence is behind us. Therefore, buying the best tech stocks now will give investors an excellent entry point for long-term gains. Here are the top seven picks to look into:MSFTMicrosoft$249.16INTCIntel$24.84AMZNAmazon$93.98OKTAOkta$71.15YEXTYext$7.36RIOTRiot Platforms$6.22NETCloudflare$59.64Microsoft Source: Asif Islam / Shutterstock.comMicrosoft’s rollout of ChatGPT integration with Bing and high growth in its cloud segment makes it among the hottest stocks this year. Of course, Bing could still be a “nothing burger” as not many people are interested in permanently switching to Bing except for niche purposes. But the Street is certainly excited.The company reported its fiscal Q2 2023 earnings, where its overall revenue grew 2%, but Azure and other cloud services revenue grew 31%, with Office 365 Commercial sales growing 11%. Conversely, Windows OEM and devices sales each decreased by 39%, which substantially negatively impacted top-line growth. The point is that Microsoft is slowly shaping its business away from slow-growth segments and into up-and-coming ones like Azure and Office 365. This will hurt the company’s top-line growth in the short term, but I see healthy growth metrics in the long run.Furthermore, the cloud isn’t the only thing in which Microsoft has an edge. The company’s aggressively investing in artificial intelligence, such as its $10 billion OpenAI investment. As AI becomes more important, these investments will pay off greatly.Intel Source: shutterstock.com/everything possibleTough competition with Advanced Micro Devices and sluggish year-over-year growth have caused Intel’s stock to plummet to decade-low valuations. However, it should be noted that the company is transforming and adapting its business for long-term success.Intel is particularly focusing on chips for AI, announcing a $20 billion investment into domestic chip production in the U.S., unlike other semiconductor companies that are sourcing their chips from foreign sources such as Taiwan Semiconductor. The CHIPS act subsidy will come in handy for the company in this regard, as Intel already reported 30% YoY growth in its foundry segment. Its Mobileye ownership is also paying dividends, with sales up 59% YoY.Another important highlight mentioned in a recent company press release,“Intel continues to progress with its goal of achieving five nodes in four years and is on track to regain transistor performance and power performance leadership by 2025. Intel 7 is now in high-volume manufacturing for both client and server. Intel 4 is manufacturing-ready, with the Meteor Lake ramp expected in the second half of 2023.”Simply put, Intel is expanding its own chip production for a more addressable market. It is also moving away from foreign sources with its own chip branding instead of using nanometers to describe its semiconductors and seeks to catch up with TSMC and AMD by 2025. If things go smoothly, Intel can become a significant chip provider for various industries in the U.S.Amazon Source: Tada Images / Shutterstock.comAmazon leads the burgeoning cloud industry with Amazon Web Services. Although other companies are certainly upping their competition here, AWS remains the dominant platform with 34% of the market share. AWS has its hands in almost every industry; even Ethereum (ETH-USD) has a substantial amount of nodes that use AWS to run, while 7,500 government agencies rely on the platform. This reliance is likely to continue, even if other alternatives become more cost-effective. Accordingly, AWS segment sales increased 29% year-over-year to $80.1 billion for all of 2022.Nevertheless, Amazon is a highly diversified company with many other promising segments to bank on. Most importantly, it is the biggest U.S. e-commerce business. It had some hiccups after the post-covid boom ended, but e-commerce is among the most promising industries in the long run. If Amazon retains its 38% market share in the industry, it could lead to sales as high as $600 billion annually from the U.S. alone by 2027.Okta Source: Sundry Photography / Shutterstock.comOkta has been one of the standout performers in the technology sector post-covid, with its stock price skyrocketing by more than 130% in 2020. However, widening losses and falling growth caused worries among investors, and OKTA stock is down 75%-plus from its peak in 2021.Regardless, the company’s top line remains stable, and I believe Okta can make a comeback as its losses are narrowing. With more and more businesses moving their operations online, Okta’s solutions are becoming increasingly essential, which has helped the company to attract a growing number of high-profile customers. Its high 37% sales growth should accelerate over the long run and bring a higher growth premium.Indeed, the losses are unconvincing, but Okta is well-positioned to continue its impressive growth trajectory. The company is expected to benefit from the ongoing shift towards cloud-based applications and the increasing need for robust cybersecurity solutions, which should drive demand for its IAM platform. Most of the company’s cons are also already priced in, and I see little downside left.Yext Source: rblfmr / Shutterstock.comYext is a leading provider of digital knowledge management software that helps businesses manage their online presence across multiple platforms. The stock was on a roller coaster ride over the pandemic era but began to bottom out last year and is now steadily recovering. However, I still think that its 50% recovery trough to the current year-to-date peak is not enough of a recovery, and there’s more to go.The COVID-19 pandemic initially harmed Yext’s business, as many of its customers had to shut down their physical locations. However, the company has adapted well to the changing market conditions, focusing on expanding its digital knowledge management platform to meet the needs of businesses that have shifted their operations online. Now, online businesses are a growth catalyst for Yext.Stock analyst Gurufocus.com does believe it could be a value trap due to its high losses. However, its most recent 10-Q filing shows that the company only spent $60.6 million on general and administrative expenses last year, with $221.5 million of gross profit. Most of its losses stem from high marketing and development spending, which can be easily cut down if needed. Therefore, I believe the company’s management sees its losses (that are narrowing) as sustainable.Overall, it’s a high-risk, high-reward bet that might not suit all investors as the best tech stock to buy.Riot Platforms Source: ShutterstockRiot Platforms is a cryptocurrency mining company that has been on a wild ride over the past year. Due to a significant drop in Bitcoin (BTC-USD) prices earlier this year, the company’s stock price has lost more than 91.5% of its value from its peak. However, this high-risk stock can deliver a long-term comeback, driven by strong demand for its mining services and the increasing adoption of cryptocurrencies by mainstream investors.Riot’s impressive financial performance has been driven by its aggressive expansion into the cryptocurrency mining market. The company has zero debt, and buying it at this current range will likely generate oversized returns when Bitcoin increases in value. The most important catalyst for RIOT is Bitcoin’s halving in 2024.It’ll cut mining rewards by half and likely increase its value substantially. The company could make a sharp recovery with RIOT’s 65.4% gross margin and its stash of around 7000 BTC. Naturally, a lot of speculation is involved here, and I wouldn’t recommend buying it if you only wish to invest in well-established names.Cloudflare Source: IgorGolovniov / Shutterstock.comCloudflare’s success can be attributed to its innovative approach to cybersecurity. The company offers a range of solutions that leverage the power of the cloud to protect against cyber attacks. The cybersecurity industry is rapidly growing despite short-term headwinds, and Cloudflare has a market share above 95% in network security. This gives the company enormous leverage over many online websites and businesses.Moreover, as web development becomes more streamlined, Cloudflare’s dominance is only increasing due to cost-effectiveness. The company is consistently growing its top line near a 50% clip, and losses are steadily narrowing.Gurufocus.com considers the stock “Significantly Undervalued,” with its future 3-5 year total revenue growth rate ranked better than 96.97% of its peers. Thus, consistency puts NET in the “best tech stock to buy” criteria.","news_type":1},"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9094593976,"gmtCreate":1645171521902,"gmtModify":1676534005554,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094593976","repostId":"1142155098","repostType":4,"repost":{"id":"1142155098","pubTimestamp":1645170216,"share":"https://ttm.financial/m/news/1142155098?lang=&edition=fundamental","pubTime":"2022-02-18 15:43","market":"fut","language":"en","title":"Gold Price Pushes Above $1,900 as Ukraine Crisis Spurs Haven Demand","url":"https://stock-news.laohu8.com/highlight/detail?id=1142155098","media":"Bloomberg","summary":"(Bloomberg) -- Gold dropped from an eight-month high after Russia agreed to meet with the U.S. for t","content":"<html><head></head><body><p>(Bloomberg) -- Gold dropped from an eight-month high after Russia agreed to meet with the U.S. for talks over the Ukraine standoff, easing some geopolitical concerns that had fueled demand for the haven asset.</p><p>Russia responded to an offer for a meeting between U.S. Secretary of State Antony Blinken and Russia Foreign Minister Sergei Lavrov in Europe with proposed dates for late next week. The U.S. has accepted, “provided there is no further Russian invasion of Ukraine,” State Department spokesperson Ned Price said in a statement.</p><p>Tensions have been high this week as the U.S. ramped up warnings of a possible Russian attack, with President Joe Biden saying a “false-flag” event may be under way. Russian officials said no invasion of Ukraine was underway and none was planned. But the Kremlin said in an official response to the Biden administration’s proposed security assurances that the offers were unsatisfactory and Russia might have to resort to unspecified “military-technical measures.”</p><p>Gold has made a strong start to the year, surging to the highest since June, as the possibility of a conflict in Europe buoyed prices. The commodity is set for a third weekly gain even as the U.S. Federal Reserve is preparing to raise rates, which could damp demand for the non-interest bearing precious metal.</p><p>“Expect gold to remain quite volatile,” said John Feeney, business development manager at Sydney-based bullion dealer Guardian Gold Australia. “We could still see gold add a significant amount on official news of an invasion,” Feeney said, adding that there could be a drop of $50 or more if the situation calmed.</p><p>Citigroup Inc. analysts including Aakash Doshi upgraded their near-term gold forecast to $1,950 from $1,825, citing geopolitical tensions. Further out, the bank remains bearish, with a target of $1,750 over six to 12 months as “higher real yields and stronger equities can weigh on bullion prices again.”</p><p>Spot gold fell 0.3% to $1,891.98 at 6:28 a.m. in London. Prices had earlier climbed as much as 0.2% to $1,902.48 an ounce, the highest since June 11. The Bloomberg Dollar Spot Index was flat. Silver and platinum rose, while palladium dropped.</p></body></html>","source":"lsy1612507957220","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>Gold Price Pushes Above $1,900 as Ukraine Crisis Spurs Haven Demand</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\">\nGold Price Pushes Above $1,900 as Ukraine Crisis Spurs Haven Demand\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-18 15:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/gold-pushes-above-1-900-005620268.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Gold dropped from an eight-month high after Russia agreed to meet with the U.S. for talks over the Ukraine standoff, easing some geopolitical concerns that had fueled demand for the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/gold-pushes-above-1-900-005620268.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/gold-pushes-above-1-900-005620268.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142155098","content_text":"(Bloomberg) -- Gold dropped from an eight-month high after Russia agreed to meet with the U.S. for talks over the Ukraine standoff, easing some geopolitical concerns that had fueled demand for the haven asset.Russia responded to an offer for a meeting between U.S. Secretary of State Antony Blinken and Russia Foreign Minister Sergei Lavrov in Europe with proposed dates for late next week. The U.S. has accepted, “provided there is no further Russian invasion of Ukraine,” State Department spokesperson Ned Price said in a statement.Tensions have been high this week as the U.S. ramped up warnings of a possible Russian attack, with President Joe Biden saying a “false-flag” event may be under way. Russian officials said no invasion of Ukraine was underway and none was planned. But the Kremlin said in an official response to the Biden administration’s proposed security assurances that the offers were unsatisfactory and Russia might have to resort to unspecified “military-technical measures.”Gold has made a strong start to the year, surging to the highest since June, as the possibility of a conflict in Europe buoyed prices. The commodity is set for a third weekly gain even as the U.S. Federal Reserve is preparing to raise rates, which could damp demand for the non-interest bearing precious metal.“Expect gold to remain quite volatile,” said John Feeney, business development manager at Sydney-based bullion dealer Guardian Gold Australia. “We could still see gold add a significant amount on official news of an invasion,” Feeney said, adding that there could be a drop of $50 or more if the situation calmed.Citigroup Inc. analysts including Aakash Doshi upgraded their near-term gold forecast to $1,950 from $1,825, citing geopolitical tensions. Further out, the bank remains bearish, with a target of $1,750 over six to 12 months as “higher real yields and stronger equities can weigh on bullion prices again.”Spot gold fell 0.3% to $1,891.98 at 6:28 a.m. in London. Prices had earlier climbed as much as 0.2% to $1,902.48 an ounce, the highest since June 11. The Bloomberg Dollar Spot Index was flat. Silver and platinum rose, while palladium dropped.","news_type":1},"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9096261611,"gmtCreate":1644401583790,"gmtModify":1676533921488,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096261611","repostId":"1159779194","repostType":2,"repost":{"id":"1159779194","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1644393793,"share":"https://ttm.financial/m/news/1159779194?lang=&edition=fundamental","pubTime":"2022-02-09 16:03","market":"sh","language":"zh","title":"市场综述：万亿巨头强力封板！券商研报神奇卡位","url":"https://stock-news.laohu8.com/highlight/detail?id=1159779194","media":"老虎资讯综合","summary":"港股港股三大指数全天走高，行业板块近乎全线上扬，市场情绪较佳。截止收盘，恒指涨2.06%上扬500点，国指涨2.47%，恒生科技指数涨3.65%，三大指数皆收复近2日跌幅。盘面上，权重科技股集体拉升，","content":"<html><head></head><body><p><b>港股</b></p><p>港股三大指数全天走高，行业板块近乎全线上扬，市场情绪较佳。截止收盘，恒指涨2.06%上扬500点，国指涨2.47%，恒生科技指数涨3.65%，三大指数皆收复近2日跌幅。</p><p><img src=\"https://static.tigerbbs.com/e20dce341f81bbb6891aac945b021831\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>盘面上，权重科技股集体拉升，<a href=\"https://laohu8.com/S/09988\">阿里巴巴-SW</a>涨超近7%，<a href=\"https://laohu8.com/S/01024\">快手-W</a>涨超5%，<a href=\"https://laohu8.com/S/09888\">百度集团-SW</a>、<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>、<a href=\"https://laohu8.com/S/09999\">网易-S</a>、<a href=\"https://laohu8.com/S/09618\">京东集团-SW</a>涨超4%，<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>涨近3%；有色板块(铝、黄金、稀土)全线上扬，<a href=\"https://laohu8.com/S/02600\">中国铝业</a>大幅收涨近10%，<a href=\"https://laohu8.com/S/02899\">紫金矿业</a>、<a href=\"https://laohu8.com/S/02899\">紫金矿业</a>皆有涨幅；电力股、汽车股、教育股、半导体股、中医药股、手游股等纷纷上涨。另一方面，煤炭股尾盘转跌，国际油价回落致石油股全天表现萎靡。</p><p><b>A股</b></p><p>今日各大指数一路震荡走高，集体迎来反弹，截止收盘，沪指涨0.79%，深成指涨1.55%，创业板指涨1.3%。北向资金今日全天净买入4.84亿元，其中沪股通净买入9.83亿，深股通净卖出4.99亿。</p><p><img src=\"https://static.tigerbbs.com/c666a3d734daec38324b2dd778c9c179\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>盘面上，数字货币板块受消息刺激开盘大涨，板块掀涨停潮。智慧政务、网络安全、国产软件、数据中心等其他数字经济子板块也集体反弹。上午中药、锂电、电力等近期超跌板块集体反弹，午后农业、环保、养殖等板块均有所活跃，市场热点呈现快速轮动特征。总体上今日个股涨多跌少，两市超3500只个股上涨，超百股涨停或涨幅超10%，两市连续四个交易日超3000只个股上涨。沪深两市今日成交额9318亿，较上个交易日放量530亿，成交量连续两日放大。板块方面，数字货币、民爆概念、养鸡、通信服务等板块涨幅居前，仅公路铁路运输和银行两个板块下跌。</p><p>市值超过万亿元的<a href=\"https://laohu8.com/S/600941\">中国移动</a>A股涨停，并再创上市以来新高，成为今日市场上最大亮点。</p><p>值得注意的是，在公司股价飙升前夕，<a href=\"https://laohu8.com/S/600030\">中信证券</a>、<a href=\"https://laohu8.com/S/601995\">中金公司</a>、<a href=\"https://laohu8.com/S/601878\">浙商证券</a>、<a href=\"https://laohu8.com/S/000783\">长江证券</a>等多家券商密集发布深度研报。</p><p>其中，国内龙头券商中信证券2月8日发布研报，给予公司A股目标价格为75元/股，相较于今日收盘价67.43元/股还有11%的上涨空间。中金给予中国移动A股跑赢大盘的初始评级，目标价81元。</p><p><img src=\"https://static.tigerbbs.com/59ae98a4618ea5780d85147b834ae663\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>美股</b></p><p>美股股指期货小幅上涨，截至发稿，道指期货涨0.28%；纳斯达克100指数期货涨0.34%；标普500指数期货涨0.33%。</p><p><img src=\"https://static.tigerbbs.com/da3fc710b3c7af8d52af84f1047acc43\" tg-width=\"385\" tg-height=\"179\" referrerpolicy=\"no-referrer\"/></p><p><b>欧股</b></p><p>欧洲主要指数全线走高，截止发稿，德国DAX指数涨0.72%，<a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数涨0.59%，法国CAC40指数涨1.01%，欧洲斯托克50指数涨1.03%。</p><p><img src=\"https://static.tigerbbs.com/b86a4da1a954a76333a98306d7ab8992\" tg-width=\"821\" tg-height=\"362\" referrerpolicy=\"no-referrer\"/></p><p><b>原油</b></p><p>原油期货持续下跌，截止发稿，WTI原油报88.88美元/桶，跌0.54%；布油现报90.28美元/桶，跌0.55%。</p><p>美国和伊朗恢复间接谈判可能重启国际核协议，允许伊朗增加石油出口。另外，俄乌危机在马克龙调停后有望暂时降温，油价短线涨势暂歇。</p><p><img src=\"https://static.tigerbbs.com/69c17c6f405a0bf977863a929b651070\" tg-width=\"889\" tg-height=\"823\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/949db44d0f411700355a0e4aaf68ae38\" tg-width=\"889\" tg-height=\"822\" referrerpolicy=\"no-referrer\"/></p><p><b>黄金</b></p><p>黄金期货微涨0.01%，报1828美元/盎司。</p><p>尽管美联储有可能积极加息，但通胀风险和俄乌紧张局势为金价带来支撑。金价短线料升向1845美元。</p><p><img src=\"https://static.tigerbbs.com/d9fbfdd3f56eb100eaff2c2972a4763b\" tg-width=\"889\" tg-height=\"824\" referrerpolicy=\"no-referrer\"/></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>市场综述：万亿巨头强力封板！券商研报神奇卡位</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; 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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市场综述：万亿巨头强力封板！券商研报神奇卡位\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2022-02-09 16:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><b>港股</b></p><p>港股三大指数全天走高，行业板块近乎全线上扬，市场情绪较佳。截止收盘，恒指涨2.06%上扬500点，国指涨2.47%，恒生科技指数涨3.65%，三大指数皆收复近2日跌幅。</p><p><img src=\"https://static.tigerbbs.com/e20dce341f81bbb6891aac945b021831\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>盘面上，权重科技股集体拉升，<a href=\"https://laohu8.com/S/09988\">阿里巴巴-SW</a>涨超近7%，<a href=\"https://laohu8.com/S/01024\">快手-W</a>涨超5%，<a href=\"https://laohu8.com/S/09888\">百度集团-SW</a>、<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>、<a href=\"https://laohu8.com/S/09999\">网易-S</a>、<a href=\"https://laohu8.com/S/09618\">京东集团-SW</a>涨超4%，<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>涨近3%；有色板块(铝、黄金、稀土)全线上扬，<a href=\"https://laohu8.com/S/02600\">中国铝业</a>大幅收涨近10%，<a href=\"https://laohu8.com/S/02899\">紫金矿业</a>、<a href=\"https://laohu8.com/S/02899\">紫金矿业</a>皆有涨幅；电力股、汽车股、教育股、半导体股、中医药股、手游股等纷纷上涨。另一方面，煤炭股尾盘转跌，国际油价回落致石油股全天表现萎靡。</p><p><b>A股</b></p><p>今日各大指数一路震荡走高，集体迎来反弹，截止收盘，沪指涨0.79%，深成指涨1.55%，创业板指涨1.3%。北向资金今日全天净买入4.84亿元，其中沪股通净买入9.83亿，深股通净卖出4.99亿。</p><p><img src=\"https://static.tigerbbs.com/c666a3d734daec38324b2dd778c9c179\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>盘面上，数字货币板块受消息刺激开盘大涨，板块掀涨停潮。智慧政务、网络安全、国产软件、数据中心等其他数字经济子板块也集体反弹。上午中药、锂电、电力等近期超跌板块集体反弹，午后农业、环保、养殖等板块均有所活跃，市场热点呈现快速轮动特征。总体上今日个股涨多跌少，两市超3500只个股上涨，超百股涨停或涨幅超10%，两市连续四个交易日超3000只个股上涨。沪深两市今日成交额9318亿，较上个交易日放量530亿，成交量连续两日放大。板块方面，数字货币、民爆概念、养鸡、通信服务等板块涨幅居前，仅公路铁路运输和银行两个板块下跌。</p><p>市值超过万亿元的<a href=\"https://laohu8.com/S/600941\">中国移动</a>A股涨停，并再创上市以来新高，成为今日市场上最大亮点。</p><p>值得注意的是，在公司股价飙升前夕，<a href=\"https://laohu8.com/S/600030\">中信证券</a>、<a href=\"https://laohu8.com/S/601995\">中金公司</a>、<a href=\"https://laohu8.com/S/601878\">浙商证券</a>、<a href=\"https://laohu8.com/S/000783\">长江证券</a>等多家券商密集发布深度研报。</p><p>其中，国内龙头券商中信证券2月8日发布研报，给予公司A股目标价格为75元/股，相较于今日收盘价67.43元/股还有11%的上涨空间。中金给予中国移动A股跑赢大盘的初始评级，目标价81元。</p><p><img src=\"https://static.tigerbbs.com/59ae98a4618ea5780d85147b834ae663\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>美股</b></p><p>美股股指期货小幅上涨，截至发稿，道指期货涨0.28%；纳斯达克100指数期货涨0.34%；标普500指数期货涨0.33%。</p><p><img src=\"https://static.tigerbbs.com/da3fc710b3c7af8d52af84f1047acc43\" tg-width=\"385\" tg-height=\"179\" referrerpolicy=\"no-referrer\"/></p><p><b>欧股</b></p><p>欧洲主要指数全线走高，截止发稿，德国DAX指数涨0.72%，<a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数涨0.59%，法国CAC40指数涨1.01%，欧洲斯托克50指数涨1.03%。</p><p><img src=\"https://static.tigerbbs.com/b86a4da1a954a76333a98306d7ab8992\" tg-width=\"821\" tg-height=\"362\" referrerpolicy=\"no-referrer\"/></p><p><b>原油</b></p><p>原油期货持续下跌，截止发稿，WTI原油报88.88美元/桶，跌0.54%；布油现报90.28美元/桶，跌0.55%。</p><p>美国和伊朗恢复间接谈判可能重启国际核协议，允许伊朗增加石油出口。另外，俄乌危机在马克龙调停后有望暂时降温，油价短线涨势暂歇。</p><p><img src=\"https://static.tigerbbs.com/69c17c6f405a0bf977863a929b651070\" tg-width=\"889\" tg-height=\"823\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/949db44d0f411700355a0e4aaf68ae38\" tg-width=\"889\" tg-height=\"822\" referrerpolicy=\"no-referrer\"/></p><p><b>黄金</b></p><p>黄金期货微涨0.01%，报1828美元/盎司。</p><p>尽管美联储有可能积极加息，但通胀风险和俄乌紧张局势为金价带来支撑。金价短线料升向1845美元。</p><p><img src=\"https://static.tigerbbs.com/d9fbfdd3f56eb100eaff2c2972a4763b\" tg-width=\"889\" tg-height=\"824\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"399001":"深证成指","399006":"创业板指","600941":"中国移动",".SPX":"S&P 500 Index",".DJI":"道琼斯","HSCEI":"国企指数","HSTECH":"恒生科技指数","02600":"中国铝业","HSI":"恒生指数","000001.SH":"上证指数","HSCCI":"红筹指数","02899":"紫金矿业",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159779194","content_text":"港股港股三大指数全天走高，行业板块近乎全线上扬，市场情绪较佳。截止收盘，恒指涨2.06%上扬500点，国指涨2.47%，恒生科技指数涨3.65%，三大指数皆收复近2日跌幅。盘面上，权重科技股集体拉升，阿里巴巴-SW涨超近7%，快手-W涨超5%，百度集团-SW、小米集团-W、网易-S、京东集团-SW涨超4%，腾讯控股涨近3%；有色板块(铝、黄金、稀土)全线上扬，中国铝业大幅收涨近10%，紫金矿业、紫金矿业皆有涨幅；电力股、汽车股、教育股、半导体股、中医药股、手游股等纷纷上涨。另一方面，煤炭股尾盘转跌，国际油价回落致石油股全天表现萎靡。A股今日各大指数一路震荡走高，集体迎来反弹，截止收盘，沪指涨0.79%，深成指涨1.55%，创业板指涨1.3%。北向资金今日全天净买入4.84亿元，其中沪股通净买入9.83亿，深股通净卖出4.99亿。盘面上，数字货币板块受消息刺激开盘大涨，板块掀涨停潮。智慧政务、网络安全、国产软件、数据中心等其他数字经济子板块也集体反弹。上午中药、锂电、电力等近期超跌板块集体反弹，午后农业、环保、养殖等板块均有所活跃，市场热点呈现快速轮动特征。总体上今日个股涨多跌少，两市超3500只个股上涨，超百股涨停或涨幅超10%，两市连续四个交易日超3000只个股上涨。沪深两市今日成交额9318亿，较上个交易日放量530亿，成交量连续两日放大。板块方面，数字货币、民爆概念、养鸡、通信服务等板块涨幅居前，仅公路铁路运输和银行两个板块下跌。市值超过万亿元的中国移动A股涨停，并再创上市以来新高，成为今日市场上最大亮点。值得注意的是，在公司股价飙升前夕，中信证券、中金公司、浙商证券、长江证券等多家券商密集发布深度研报。其中，国内龙头券商中信证券2月8日发布研报，给予公司A股目标价格为75元/股，相较于今日收盘价67.43元/股还有11%的上涨空间。中金给予中国移动A股跑赢大盘的初始评级，目标价81元。美股美股股指期货小幅上涨，截至发稿，道指期货涨0.28%；纳斯达克100指数期货涨0.34%；标普500指数期货涨0.33%。欧股欧洲主要指数全线走高，截止发稿，德国DAX指数涨0.72%，英国富时100指数涨0.59%，法国CAC40指数涨1.01%，欧洲斯托克50指数涨1.03%。原油原油期货持续下跌，截止发稿，WTI原油报88.88美元/桶，跌0.54%；布油现报90.28美元/桶，跌0.55%。美国和伊朗恢复间接谈判可能重启国际核协议，允许伊朗增加石油出口。另外，俄乌危机在马克龙调停后有望暂时降温，油价短线涨势暂歇。黄金黄金期货微涨0.01%，报1828美元/盎司。尽管美联储有可能积极加息，但通胀风险和俄乌紧张局势为金价带来支撑。金价短线料升向1845美元。","news_type":1},"isVote":1,"tweetType":1,"viewCount":408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957637161,"gmtCreate":1677207502453,"gmtModify":1677207505546,"author":{"id":"4087210591972110","authorId":"4087210591972110","name":"Han Tee","avatar":"https://static.tigerbbs.com/0cc86ef418f4b2e2acb8e651b4446b24","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087210591972110","authorIdStr":"4087210591972110"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9957637161","repostId":"1105872678","repostType":4,"repost":{"id":"1105872678","pubTimestamp":1677206707,"share":"https://ttm.financial/m/news/1105872678?lang=&edition=fundamental","pubTime":"2023-02-24 10:45","market":"hk","language":"en","title":"Alibaba, NetEase Fall With Hong Kong Stocks in Correction Amid Mixed Earnings Signals While Techtronic Rebounds","url":"https://stock-news.laohu8.com/highlight/detail?id=1105872678","media":"South China Morning Post","summary":"Alibaba Group, the owner of this newspaper, beat market estimates in third-quarter report, while job","content":"<html><head></head><body><ul><li>Alibaba Group, the owner of this newspaper, beat market estimates in third-quarter report, while job cuts signalled challenges ahead</li><li>Techtronic rebounds after rejecting a short-seller’s attack, without addressing allegations the tools maker inflated its profits</li></ul><p>Hong Kong stocks fell deeper into a technical correction following mixed signals in corporate earnings from Chinese big tech companies. Techtronic recovered from a 19 per cent plunge triggered by a short-seller attack.</p><p>The Hang Seng Index slipped 1.5 per cent to 20,050.99 at 10.31am local time, the lowest level since January 3, and bringing the decline for the week to 2.9 per cent. The Tech Index retreated 2.3 per cent, while the Shanghai Composite Index weakened 0.6 per cent.</p><p>Alibaba Group dropped 3.4 per cent to HK$91.95 after revenue grew 2.1 per cent to 247.76 billion yuan (US$35.9 billion) in the December quarter, while job cuts in 2022 helped trim costs. NetEase slumped 6.5 per cent to HK$130, after its net profit trailed market consensus. Baidu tumbled 3.2 per cent to HK$135.30 and Tencent dropped 1.4 per cent to HK$351.</p><p>“The old regime of unlimited expansion and unlimited upside is over” for Chinese internet stocks, Wang Qi, CEO of MegaTrust Investment said in a research note on Thursday. The sector will continue to face earnings uncertainty and massive valuation volatility, he added.</p><p>Techtronic advanced 3.6 per cent to HK$77.65 as the Chinese power-tools maker rejected a report by little-known short-seller Jehoshaphat Research that the firm inflated its profits, without addressing the allegations. The stock sank 19 per cent on Thursday, wiping out HK$32.2 billion (US$4.1 billion) of its market value.</p><p>The benchmark index was headed for a fourth week of losses, the longest stretch since September. The index’s setback this week brought the cumulative losses to more than 10 per cent since January 27, a technical correction, and erasedUS$366 billion of value from the city’s broader market.</p><p>Major Asian markets advanced on Friday. Nikkei 225 in Japan jumped 1.3 per cent, while the Kospi Index in South Korea and the S&amp;P/ASX 200 in Australia both advanced by 0.2 per cent.</p></body></html>","source":"lsy1600132093512","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, NetEase Fall With Hong Kong Stocks in Correction Amid Mixed Earnings Signals While Techtronic Rebounds</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, NetEase Fall With Hong Kong Stocks in Correction Amid Mixed Earnings Signals While Techtronic Rebounds\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-24 10:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.scmp.com/business/china-business/article/3211336/alibaba-netease-fall-hong-kong-stocks-correction-amid-mixed-earnings-signals-while-techtronic?module=live&pgtype=homepage><strong>South China Morning Post</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba Group, the owner of this newspaper, beat market estimates in third-quarter report, while job cuts signalled challenges aheadTechtronic rebounds after rejecting a short-seller’s attack, without...</p>\n\n<a href=\"https://www.scmp.com/business/china-business/article/3211336/alibaba-netease-fall-hong-kong-stocks-correction-amid-mixed-earnings-signals-while-techtronic?module=live&pgtype=homepage\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09999":"网易-S","09988":"阿里巴巴-W"},"source_url":"https://www.scmp.com/business/china-business/article/3211336/alibaba-netease-fall-hong-kong-stocks-correction-amid-mixed-earnings-signals-while-techtronic?module=live&pgtype=homepage","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105872678","content_text":"Alibaba Group, the owner of this newspaper, beat market estimates in third-quarter report, while job cuts signalled challenges aheadTechtronic rebounds after rejecting a short-seller’s attack, without addressing allegations the tools maker inflated its profitsHong Kong stocks fell deeper into a technical correction following mixed signals in corporate earnings from Chinese big tech companies. Techtronic recovered from a 19 per cent plunge triggered by a short-seller attack.The Hang Seng Index slipped 1.5 per cent to 20,050.99 at 10.31am local time, the lowest level since January 3, and bringing the decline for the week to 2.9 per cent. The Tech Index retreated 2.3 per cent, while the Shanghai Composite Index weakened 0.6 per cent.Alibaba Group dropped 3.4 per cent to HK$91.95 after revenue grew 2.1 per cent to 247.76 billion yuan (US$35.9 billion) in the December quarter, while job cuts in 2022 helped trim costs. NetEase slumped 6.5 per cent to HK$130, after its net profit trailed market consensus. Baidu tumbled 3.2 per cent to HK$135.30 and Tencent dropped 1.4 per cent to HK$351.“The old regime of unlimited expansion and unlimited upside is over” for Chinese internet stocks, Wang Qi, CEO of MegaTrust Investment said in a research note on Thursday. The sector will continue to face earnings uncertainty and massive valuation volatility, he added.Techtronic advanced 3.6 per cent to HK$77.65 as the Chinese power-tools maker rejected a report by little-known short-seller Jehoshaphat Research that the firm inflated its profits, without addressing the allegations. The stock sank 19 per cent on Thursday, wiping out HK$32.2 billion (US$4.1 billion) of its market value.The benchmark index was headed for a fourth week of losses, the longest stretch since September. The index’s setback this week brought the cumulative losses to more than 10 per cent since January 27, a technical correction, and erasedUS$366 billion of value from the city’s broader market.Major Asian markets advanced on Friday. Nikkei 225 in Japan jumped 1.3 per cent, while the Kospi Index in South Korea and the S&P/ASX 200 in Australia both advanced by 0.2 per cent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}