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BillionaireN
Certificated Individuals
Tiger Certification: 20+ years of market trading experience and still learning every other day
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BillionaireN
11-04 23:58
I opened
$EQIX 20241220 750.0 PUT$
,Selling put option for equinix for Dec expiry strong company with strong earnings
BillionaireN
11-04 23:35
I closed
$EQIX 20241115 820.0 PUT$
,Make money take and move to the next trade ear ings coming for this Stock should do well
BillionaireN
11-04 23:32
I opened
$COIN 20241108 135.0 PUT$
,Sell putS to pick up of the price fall to that level delta is low so low chance too but anything can happen
BillionaireN
11-04 23:27
I opened
$PLTR 20241108 34.5 PUT$
,Palantir is announcing the results amd riding on the voltality if it drop much just pick up and ride along the trend
BillionaireN
10-28
$NVDA 20241025 89.0 PUT$
BillionaireN
10-28
$COIN 20241025 180.0 PUT$
BillionaireN
10-28
$COIN 20241025 180.0 PUT$
BillionaireN
10-28
$BX 20241025 128.0 PUT$
BillionaireN
10-28
$TSLA 20241025 180.0 PUT$
BillionaireN
10-28
$MU 20241025 77.0 PUT$
BillionaireN
10-28
$COIN 20241025 167.5 PUT$
BillionaireN
10-28
$COIN 20241025 133.0 PUT$
BillionaireN
10-28
$MSTR 20241025 130.0 PUT$
BillionaireN
10-28
$MSTR 20241025 130.0 PUT$
BillionaireN
10-28
$GOOGL 20241025 140.0 PUT$
BillionaireN
10-28
$COIN 20241025 170.0 PUT$
BillionaireN
10-28
$ADBE 20241025 470.0 PUT$
BillionaireN
10-23
Yup yup quick quick sell so I can buy in !
Blackstone: I Think It's Time To Sell
BillionaireN
10-22
I closed
$ADBE 20241025 477.5 PUT$
,Take a look at the latest order I posted!
BillionaireN
10-22
I opened
$COIN 20241025 170.0 PUT$
,Take a look at the latest order I posted!
Go to Tiger App to see more news
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!🤝","starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":367494191738960,"gmtCreate":1730735883464,"gmtModify":1730736750438,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I opened <a href=\"https://ttm.financial/OPT/EQIX 20241220 750.0 PUT\">$EQIX 20241220 750.0 PUT$ </a> ,Selling put option for equinix for Dec expiry strong company with strong earnings","listText":"I opened <a href=\"https://ttm.financial/OPT/EQIX 20241220 750.0 PUT\">$EQIX 20241220 750.0 PUT$ </a> ,Selling put option for equinix for Dec expiry strong company with strong earnings","text":"I opened $EQIX 20241220 750.0 PUT$ ,Selling put option for equinix for Dec expiry strong company with strong earnings","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":6,"link":"https://ttm.financial/post/367494191738960","isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367381692399816,"gmtCreate":1730734511923,"gmtModify":1730736596902,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/EQIX 20241115 820.0 PUT\">$EQIX 20241115 820.0 PUT$ </a> ,Make money take and move to the next trade ear ings coming for this Stock should do well","listText":"I closed <a href=\"https://ttm.financial/OPT/EQIX 20241115 820.0 PUT\">$EQIX 20241115 820.0 PUT$ </a> ,Make money take and move to the next trade ear ings coming for this Stock should do well","text":"I closed $EQIX 20241115 820.0 PUT$ ,Make money take and move to the next trade ear ings coming for this Stock should do well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/367381692399816","isVote":1,"tweetType":1,"viewCount":453,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367490130006208,"gmtCreate":1730734369099,"gmtModify":1730736589479,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I opened <a href=\"https://ttm.financial/OPT/COIN 20241108 135.0 PUT\">$COIN 20241108 135.0 PUT$ </a> ,Sell putS to pick up of the price fall to that level delta is low so low chance too but anything can happen","listText":"I opened <a href=\"https://ttm.financial/OPT/COIN 20241108 135.0 PUT\">$COIN 20241108 135.0 PUT$ </a> ,Sell putS to pick up of the price fall to that level delta is low so low chance too but anything can happen","text":"I opened $COIN 20241108 135.0 PUT$ ,Sell putS to pick up of the price fall to that level delta is low so low chance too but anything can happen","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/367490130006208","isVote":1,"tweetType":1,"viewCount":771,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367379904450816,"gmtCreate":1730734079068,"gmtModify":1730778415586,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I opened <a href=\"https://ttm.financial/OPT/PLTR 20241108 34.5 PUT\">$PLTR 20241108 34.5 PUT$ </a> ,Palantir is announcing the results amd riding on the voltality if it drop much just pick up and ride along the trend","listText":"I opened <a href=\"https://ttm.financial/OPT/PLTR 20241108 34.5 PUT\">$PLTR 20241108 34.5 PUT$ </a> ,Palantir is announcing the results amd riding on the voltality if it drop much just pick up and ride along the trend","text":"I opened $PLTR 20241108 34.5 PUT$ ,Palantir is announcing the results amd riding on the voltality if it drop much just pick up and ride along the trend","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":22,"commentSize":1,"repostSize":15,"link":"https://ttm.financial/post/367379904450816","isVote":1,"tweetType":1,"viewCount":1088,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"10000000000010968","authorId":"10000000000010968","name":"Tiger_CBA","avatar":"https://community-static.tradeup.com/news/ae2d4002ef9664aba005cb3020f416f5","crmLevel":1,"crmLevelSwitch":0,"idStr":"10000000000010968","authorIdStr":"10000000000010968"},"content":"Much appreciation on your openness of your trading strategies and Best of luck with your future trades! Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with upcoming 0-commission, unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here. Other helpful links: How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.","text":"Much appreciation on your openness of your trading strategies and Best of luck with your future trades! Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with upcoming 0-commission, unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here. Other helpful links: How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.","html":"Much appreciation on your openness of your trading strategies and Best of luck with your future trades! Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with upcoming 0-commission, unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here. Other helpful links: How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364946584813640,"gmtCreate":1730108609051,"gmtModify":1730108612157,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/OPT/NVDA 20241025 89.0 PUT\">$NVDA 20241025 89.0 PUT$</a> ","listText":"<a href=\"https://ttm.financial/OPT/NVDA 20241025 89.0 PUT\">$NVDA 20241025 89.0 PUT$</a> ","text":"$NVDA 20241025 89.0 PUT$","images":[{"img":"https://community-static.tradeup.com/news/03cfb8f1284c5598d637c089b98bf641","width":"696","height":"1122"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364946584813640","isVote":1,"tweetType":1,"viewCount":107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":364946871640232,"gmtCreate":1730108597925,"gmtModify":1730108599186,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/OPT/COIN 20241025 180.0 PUT\">$COIN 20241025 180.0 PUT$</a> ","listText":"<a href=\"https://ttm.financial/OPT/COIN 20241025 180.0 PUT\">$COIN 20241025 180.0 PUT$</a> 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20241025 170.0 PUT\">$COIN 20241025 170.0 PUT$</a> ","listText":"<a href=\"https://ttm.financial/OPT/COIN 20241025 170.0 PUT\">$COIN 20241025 170.0 PUT$</a> ","text":"$COIN 20241025 170.0 PUT$","images":[{"img":"https://community-static.tradeup.com/news/5b574038b571e29c7982271b45f15a13","width":"696","height":"1122"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364946094841888","isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":364945650417912,"gmtCreate":1730108394187,"gmtModify":1730108397642,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/OPT/ADBE 20241025 470.0 PUT\">$ADBE 20241025 470.0 PUT$</a> ","listText":"<a href=\"https://ttm.financial/OPT/ADBE 20241025 470.0 PUT\">$ADBE 20241025 470.0 PUT$</a> ","text":"$ADBE 20241025 470.0 PUT$","images":[{"img":"https://community-static.tradeup.com/news/275f455ea26e9bdc827922b778a54643","width":"696","height":"1122"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364945650417912","isVote":1,"tweetType":1,"viewCount":9,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":363108360749272,"gmtCreate":1729675953930,"gmtModify":1729675957725,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"Yup yup quick quick sell so I can buy in !","listText":"Yup yup quick quick sell so I can buy in !","text":"Yup yup quick quick sell so I can buy in !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/363108360749272","repostId":"2477345261","repostType":2,"repost":{"id":"2477345261","pubTimestamp":1729645466,"share":"https://ttm.financial/m/news/2477345261?lang=&edition=fundamental","pubTime":"2024-10-23 09:04","market":"nz","language":"en","title":"Blackstone: I Think It's Time To Sell","url":"https://stock-news.laohu8.com/highlight/detail?id=2477345261","media":"seekingalpha","summary":"Blackstone's Q3 earnings exceeded expectations, with total segment revenue of $2.43 billion and significant growth in fee-related and distributable earnings.Despite higher distributable earnings growt","content":"<html><body><ul><li>Blackstone's Q3 earnings exceeded expectations, with total segment revenue of $2.43 billion and significant growth in fee-related and distributable earnings.</li><li>Despite higher distributable earnings growth rates, Blackstone's stock is overvalued, and its fundamentals do not justify a price-to-DE of 42.5x, which is far away from its historical average.</li><li>Taking profits at all-time highs sounds like a prudent course of action; therefore, I rate Blackstone's stock as a \"sell.\"</li></ul><p><figure><picture> <img fetchpriority=\"high\" height=\"1024px\" 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/1358680955/image_1358680955.jpg?io=getty-c-w750\" srcset=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1358680955/image_1358680955.jpg?io=getty-c-w1536 1536w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1358680955/image_1358680955.jpg?io=getty-c-w1280 1280w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1358680955/image_1358680955.jpg?io=getty-c-w1080 1080w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1358680955/image_1358680955.jpg?io=getty-c-w750 750w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1358680955/image_1358680955.jpg?io=getty-c-w640 640w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1358680955/image_1358680955.jpg?io=getty-c-w480 480w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1358680955/image_1358680955.jpg?io=getty-c-w320 320w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1358680955/image_1358680955.jpg?io=getty-c-w240 240w\" width=\"1536px\"/> </picture><figcaption> <p>Daniel de la Hoz/iStock via Getty Images</p></figcaption></figure></p> <p><span>As usual, the earnings season of alternative-focused asset managers started with Blackstone Inc. (</span><span>BX</span><span>) reporting earnings on Thursdays. In September, the stock recovered to its all-time high level after a drawdown duration of<span> more than a thousand days from ATH. </span></span><span>With a post-earnings performance of 7.92%, Blackstone's stock finally surpassed the $160 mark and has accumulated a YTD performance of approximately 31.65%.</span></p> <p>As you can observe from the title, I believe it's time to take some profits and sell Blackstone at its all-time high. I will lay out my primary reasons during the analysis. However, remember that this downgrade is primarily due to a valuation aspect and not because I am not bullish on the long-term prospects of a reputable brand such as Blackstone.</p> <h2><span>What Happened With Blackstone's Q3 Earnings?</span></h2> <p><span>In Q3, all operating metrics were better than analysts expected. First, total segment revenue of $2.43 billion exceeded expectations by 3%. Next, fee-related earnings and distributable earnings of $0.96 and $1.01 surpassed analyst forecasts by 2.1% and 11.0%, respectively.</span></p> <p><span>In addition, net inflows of $40.5 billion were 13.1% more than analysts thought. Yet, although total AUM was in line with the consensus, Real Estate AUM was missed and was -4.7% lower than anticipated. </span></p> <h2><span>BX: Higher Consolidate Growth Rates</span></h2> <p>First, it is worth noting that Blackstone's top line is quite volatile due to the effect that carried interest brings to the fee composition. Considering that, in Q3, the firm experienced less impressive growth than in other quarters. Here, the growth of total segment revenues of 4.8% YoY was decent but lower than in Q2 '24 and Q4 '23. Furthermore, FRE grew 4.5% yearly and distributable earnings at 5.5%, becoming the highest DE growth since the metric started recovering in Q4 '23.</p> <p><span>Nonetheless, what drives investors' attention is Blackstone's consistency in bringing new inflows quarter over quarter. In Q3, BX obtained an inflow-to-AUM ratio of 3.8%, consistent with the two-year average. Finally, from a growth perspective, fee-earning AUM moved 11.7% YoY, the highest number of the previous quarters.</span></p> <p><span>All the performance metrics mentioned above are non-GAAP and are definitely the best ones to measure the performance of an alternative asset manager. Yet, what explained the rally on the stock was a surge in unrealized gains, mainly from performance allocations of $1.155 billion. This represents a 200.1% yearly rise in investment income, making it the highest in the last three years. In addition, there was a 4.9% dividend increase based on a policy comprising payouts of </span><span>85%</span><span> of the distributable earnings.</span></p> <p><span>These unrealized gains are counted as revenue under GAAP. Therefore, total revenue increased 44.1% YoY. Simultaneously, net income attributable to common shareholders grew 41.5% YoY. Although earnings came in spectacularly from this point of view, I don't think paying too much attention to unrealized gains is a prudent tool for measuring ongoing performance.</span></p> <h2>Blackstone's Results Per Segment; <span>Private Credit Keeps Leading</span> </h2> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" height=\"454\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/18/59489744-17293041319611723.png\" width=\"640\"/></span><figcaption><p><span>FinChat</span></p></figcaption></figure></p> <p><span>Examining the earnings segment by segment, Credit & Insurance continued their elevated growth year over year, to the point that credit-heavy alternatives such as Ares Management Corporation (ARES) and <a href=\"https://laohu8.com/S/OWL\">Blue Owl Capital Inc.</a> (OWL) jumped in Thursday's trading by 3.21% and 4.92%, respectively. Here, the segment achieved $324.5 million in fee-related earnings, and since Q1, it has become Blackstone's second-largest earnings source.</span></p> <p><span>Real Estate continued its YoY decline in FRE earnings of -8.3%, becoming the only segment decreasing but still weighting most of BX's FRE. Next, Private Equity grew fee-related earnings at an attractive rate of 9.05% YoY, and Multi-asset grew FRE at a higher rate of 13.3%.</span></p> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" height=\"454\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/18/59489744-17293041578625655.png\" width=\"640\"/></span><figcaption><p><span>FinChat</span></p></figcaption></figure></p> <p><span>From the fee-paying AUM front, Credit & Insurance is o</span><span>bviously </span><span>the segment that exhibited the </span><span>largest</span><span> YoY rise and is just $33.9 billion away from surpassing Real Estate in FPAUM. In terms of total AUM (which includes AUM not paying fees), Credit & Insurance is already the most significant AUM contributor to Blackstone, given the spectacular secular momentum.</span></p> <h2><span>Overvaluation of Blackstone </span></h2> <p><span>Blackstone's most recent closing price was $172.36. Summing each fee-related earnings of the past four quarters results in a TTM FRE of $3.68 per share, providing a price-to-FRE of 46.8x. Without a second of a doubt, the stock price is overvalued based on that multiple. </span></p> <p><span>In my previous analysis of Blackstone, I downgraded them to a hold due to the valuation, which was significantly higher than the average. Back then, the price to FRE multiple was at 38.5x; now, it's even worse at 46.8x, making it completely unattractive when opening new positions.</span></p> <p><span>From a DE standpoint, the TTM DE of $4.06 implies a price-to-DE of 42.5x, again completely off from a normalized level. The market seems to value Blackstone as if they were still enjoying the same earnings level from two years ago without considering the slowdown since then. For example, back in Q3 '22, TTM distributable earnings were at $5.81. Now, they are -30% lower at $4.06.</span></p> <h2><span>Take Away, Stock Rating, and Risks to the Rating </span></h2> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59489744-17294636500453868.png\"/></span><figcaption><p><span>BX Q3 Supplemental</span></p></figcaption></figure></p> <p><span>When analyzing Blackstone's key metrics, it is clear that growth rates have been decent in the top and bottom lines, with a particular emphasis on fee-earning AUM growth. This is while sitting at a normalized level of inflows to AUM, which is a crucial metric to measure the size of the inflows concerning how significant these are to the manager.</span></p> <p><span>In the rating conclusion, I have two options.</span></p> <ol> <li><span>Rate the stock as a \"hold\" since the market is probably expecting the FRE growth to accelerate due to the substantial increase in NAV, and with this, the growing denominator would equate to a normalized valuation.</span></li> <li><span>Observe the current absurd valuation that factors a price-to-FRE of 46.1x, compare it to the exhibited growth, and conclude with a \"sell\" rating.</span></li> </ol> <p><span>I will choose the second option here. Taking some profits sounds nice when the multiple expansion has reached a metric considerably higher than its average, and the stock is trading at all-time highs.</span></p> <p><span>Nonetheless, Blackstone is a solid business that would most likely continue to benefit from secular trends of wealth managers' and institutions' allocating more capital towards alternative investments while enjoying the market leader attribute. In the long term, I do not doubt that this asset-light business model and the Blackstone brand are positioned to do well, even though fighting with the law of large numbers would start at some point due to their size.</span></p> <p><span>In addition, although I opted for a \"sell\" rating due to their valuation, the market is the market</span><span>, and so</span><span> far, the stock is 68.61% up from a year ago and has exhibited a </span><span>strong 7-day</span><span> momentum of approximately 16%. Market sentiment is high, and taking profits now might have some opportunity cost if the stock price keeps rising. My rating is more of a tactical move rather than a rating with a five-year time horizon. </span><span>I look forward</span><span> to revisiting Blackstone's thesis once things in the valuation have normalized.</span></p> <div></div> <p>Furthermore, although fellow SA analyst Leo Nelissen decided on a \"hold\" rating on the stock, we agreed on the long-term outlook and valuation. From his side, he prefers to wait for a 15% pullback to find an attractive entry point to enter the stock. <span>Finally, this week, competitor KKR & Co. Inc. (KKR) will report Q3 earnings on Thursday morning, and I look forward to reviewing their upcoming results.</span></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>Blackstone: I Think It's Time To Sell</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\">\nBlackstone: I Think It's Time To Sell\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-23 09:04 GMT+8 <a href=https://seekingalpha.com/article/4728460-blackstone-i-think-its-time-to-sell><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Blackstone's Q3 earnings exceeded expectations, with total segment revenue of $2.43 billion and significant growth in fee-related and distributable earnings.Despite higher distributable earnings ...</p>\n\n<a href=\"https://seekingalpha.com/article/4728460-blackstone-i-think-its-time-to-sell\">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/1358680955/image_1358680955.jpg","relate_stocks":{"IE00B64PRP62.GBP":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (GBP) ACC","BK4588":"碎股","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00B3QW5Z07.USD":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (USD) ACC","BK4585":"ETF&股票定投概念","BX":"黑石","IE00BGHQF748.EUR":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (EUR) ACC","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","BK4135":"资产管理与托管银行","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus"},"source_url":"https://seekingalpha.com/article/4728460-blackstone-i-think-its-time-to-sell","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2477345261","content_text":"Blackstone's Q3 earnings exceeded expectations, with total segment revenue of $2.43 billion and significant growth in fee-related and distributable earnings.Despite higher distributable earnings growth rates, Blackstone's stock is overvalued, and its fundamentals do not justify a price-to-DE of 42.5x, which is far away from its historical average.Taking profits at all-time highs sounds like a prudent course of action; therefore, I rate Blackstone's stock as a \"sell.\" Daniel de la Hoz/iStock via Getty Images As usual, the earnings season of alternative-focused asset managers started with Blackstone Inc. (BX) reporting earnings on Thursdays. In September, the stock recovered to its all-time high level after a drawdown duration of more than a thousand days from ATH. With a post-earnings performance of 7.92%, Blackstone's stock finally surpassed the $160 mark and has accumulated a YTD performance of approximately 31.65%. As you can observe from the title, I believe it's time to take some profits and sell Blackstone at its all-time high. I will lay out my primary reasons during the analysis. However, remember that this downgrade is primarily due to a valuation aspect and not because I am not bullish on the long-term prospects of a reputable brand such as Blackstone. What Happened With Blackstone's Q3 Earnings? In Q3, all operating metrics were better than analysts expected. First, total segment revenue of $2.43 billion exceeded expectations by 3%. Next, fee-related earnings and distributable earnings of $0.96 and $1.01 surpassed analyst forecasts by 2.1% and 11.0%, respectively. In addition, net inflows of $40.5 billion were 13.1% more than analysts thought. Yet, although total AUM was in line with the consensus, Real Estate AUM was missed and was -4.7% lower than anticipated. BX: Higher Consolidate Growth Rates First, it is worth noting that Blackstone's top line is quite volatile due to the effect that carried interest brings to the fee composition. Considering that, in Q3, the firm experienced less impressive growth than in other quarters. Here, the growth of total segment revenues of 4.8% YoY was decent but lower than in Q2 '24 and Q4 '23. Furthermore, FRE grew 4.5% yearly and distributable earnings at 5.5%, becoming the highest DE growth since the metric started recovering in Q4 '23. Nonetheless, what drives investors' attention is Blackstone's consistency in bringing new inflows quarter over quarter. In Q3, BX obtained an inflow-to-AUM ratio of 3.8%, consistent with the two-year average. Finally, from a growth perspective, fee-earning AUM moved 11.7% YoY, the highest number of the previous quarters. All the performance metrics mentioned above are non-GAAP and are definitely the best ones to measure the performance of an alternative asset manager. Yet, what explained the rally on the stock was a surge in unrealized gains, mainly from performance allocations of $1.155 billion. This represents a 200.1% yearly rise in investment income, making it the highest in the last three years. In addition, there was a 4.9% dividend increase based on a policy comprising payouts of 85% of the distributable earnings. These unrealized gains are counted as revenue under GAAP. Therefore, total revenue increased 44.1% YoY. Simultaneously, net income attributable to common shareholders grew 41.5% YoY. Although earnings came in spectacularly from this point of view, I don't think paying too much attention to unrealized gains is a prudent tool for measuring ongoing performance. Blackstone's Results Per Segment; Private Credit Keeps Leading FinChat Examining the earnings segment by segment, Credit & Insurance continued their elevated growth year over year, to the point that credit-heavy alternatives such as Ares Management Corporation (ARES) and Blue Owl Capital Inc. (OWL) jumped in Thursday's trading by 3.21% and 4.92%, respectively. Here, the segment achieved $324.5 million in fee-related earnings, and since Q1, it has become Blackstone's second-largest earnings source. Real Estate continued its YoY decline in FRE earnings of -8.3%, becoming the only segment decreasing but still weighting most of BX's FRE. Next, Private Equity grew fee-related earnings at an attractive rate of 9.05% YoY, and Multi-asset grew FRE at a higher rate of 13.3%. FinChat From the fee-paying AUM front, Credit & Insurance is obviously the segment that exhibited the largest YoY rise and is just $33.9 billion away from surpassing Real Estate in FPAUM. In terms of total AUM (which includes AUM not paying fees), Credit & Insurance is already the most significant AUM contributor to Blackstone, given the spectacular secular momentum. Overvaluation of Blackstone Blackstone's most recent closing price was $172.36. Summing each fee-related earnings of the past four quarters results in a TTM FRE of $3.68 per share, providing a price-to-FRE of 46.8x. Without a second of a doubt, the stock price is overvalued based on that multiple. In my previous analysis of Blackstone, I downgraded them to a hold due to the valuation, which was significantly higher than the average. Back then, the price to FRE multiple was at 38.5x; now, it's even worse at 46.8x, making it completely unattractive when opening new positions. From a DE standpoint, the TTM DE of $4.06 implies a price-to-DE of 42.5x, again completely off from a normalized level. The market seems to value Blackstone as if they were still enjoying the same earnings level from two years ago without considering the slowdown since then. For example, back in Q3 '22, TTM distributable earnings were at $5.81. Now, they are -30% lower at $4.06. Take Away, Stock Rating, and Risks to the Rating BX Q3 Supplemental When analyzing Blackstone's key metrics, it is clear that growth rates have been decent in the top and bottom lines, with a particular emphasis on fee-earning AUM growth. This is while sitting at a normalized level of inflows to AUM, which is a crucial metric to measure the size of the inflows concerning how significant these are to the manager. In the rating conclusion, I have two options. Rate the stock as a \"hold\" since the market is probably expecting the FRE growth to accelerate due to the substantial increase in NAV, and with this, the growing denominator would equate to a normalized valuation. Observe the current absurd valuation that factors a price-to-FRE of 46.1x, compare it to the exhibited growth, and conclude with a \"sell\" rating. I will choose the second option here. Taking some profits sounds nice when the multiple expansion has reached a metric considerably higher than its average, and the stock is trading at all-time highs. Nonetheless, Blackstone is a solid business that would most likely continue to benefit from secular trends of wealth managers' and institutions' allocating more capital towards alternative investments while enjoying the market leader attribute. In the long term, I do not doubt that this asset-light business model and the Blackstone brand are positioned to do well, even though fighting with the law of large numbers would start at some point due to their size. In addition, although I opted for a \"sell\" rating due to their valuation, the market is the market, and so far, the stock is 68.61% up from a year ago and has exhibited a strong 7-day momentum of approximately 16%. Market sentiment is high, and taking profits now might have some opportunity cost if the stock price keeps rising. My rating is more of a tactical move rather than a rating with a five-year time horizon. I look forward to revisiting Blackstone's thesis once things in the valuation have normalized. Furthermore, although fellow SA analyst Leo Nelissen decided on a \"hold\" rating on the stock, we agreed on the long-term outlook and valuation. From his side, he prefers to wait for a 15% pullback to find an attractive entry point to enter the stock. Finally, this week, competitor KKR & Co. Inc. (KKR) will report Q3 earnings on Thursday morning, and I look forward to reviewing their upcoming results.","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362525969535168,"gmtCreate":1729549191701,"gmtModify":1729561378189,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/ADBE 20241025 477.5 PUT\">$ADBE 20241025 477.5 PUT$ </a> ,Take a look at the latest order I posted!","listText":"I closed <a href=\"https://ttm.financial/OPT/ADBE 20241025 477.5 PUT\">$ADBE 20241025 477.5 PUT$ </a> ,Take a look at the latest order I posted!","text":"I closed $ADBE 20241025 477.5 PUT$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":268,"commentSize":3,"repostSize":125,"link":"https://ttm.financial/post/362525969535168","isVote":1,"tweetType":1,"viewCount":8931,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362550680076488,"gmtCreate":1729549179671,"gmtModify":1729925660589,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I opened <a href=\"https://ttm.financial/OPT/COIN 20241025 170.0 PUT\">$COIN 20241025 170.0 PUT$ </a> ,Take a look at the latest order I posted!","listText":"I opened <a href=\"https://ttm.financial/OPT/COIN 20241025 170.0 PUT\">$COIN 20241025 170.0 PUT$ </a> ,Take a look at the latest order I posted!","text":"I opened $COIN 20241025 170.0 PUT$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":150,"commentSize":3,"repostSize":56,"link":"https://ttm.financial/post/362550680076488","isVote":1,"tweetType":1,"viewCount":5451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":367379904450816,"gmtCreate":1730734079068,"gmtModify":1730778415586,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I opened <a href=\"https://ttm.financial/OPT/PLTR 20241108 34.5 PUT\">$PLTR 20241108 34.5 PUT$ </a> ,Palantir is announcing the results amd riding on the voltality if it drop much just pick up and ride along the trend","listText":"I opened <a href=\"https://ttm.financial/OPT/PLTR 20241108 34.5 PUT\">$PLTR 20241108 34.5 PUT$ </a> ,Palantir is announcing the results amd riding on the voltality if it drop much just pick up and ride along the trend","text":"I opened $PLTR 20241108 34.5 PUT$ ,Palantir is announcing the results amd riding on the voltality if it drop much just pick up and ride along the trend","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":22,"commentSize":1,"repostSize":15,"link":"https://ttm.financial/post/367379904450816","isVote":1,"tweetType":1,"viewCount":1088,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"10000000000010968","authorId":"10000000000010968","name":"Tiger_CBA","avatar":"https://community-static.tradeup.com/news/ae2d4002ef9664aba005cb3020f416f5","crmLevel":1,"crmLevelSwitch":0,"idStr":"10000000000010968","authorIdStr":"10000000000010968"},"content":"Much appreciation on your openness of your trading strategies and Best of luck with your future trades! Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with upcoming 0-commission, unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here. Other helpful links: How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.","text":"Much appreciation on your openness of your trading strategies and Best of luck with your future trades! Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with upcoming 0-commission, unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here. Other helpful links: How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.","html":"Much appreciation on your openness of your trading strategies and Best of luck with your future trades! 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Cash Boost Account Website."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314946731655208,"gmtCreate":1717922718475,"gmtModify":1728377922608,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/NVAX 20240607 30.0 CALL\">$NVAX 20240607 30.0 CALL$ </a> ,Trading this for the good premium due to the volatility of the stock","listText":"I closed <a href=\"https://ttm.financial/OPT/NVAX 20240607 30.0 CALL\">$NVAX 20240607 30.0 CALL$ </a> ,Trading this for the good premium due to the volatility of the stock","text":"I closed $NVAX 20240607 30.0 CALL$ ,Trading this for the good premium due to the volatility of the stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":582,"commentSize":5,"repostSize":519,"link":"https://ttm.financial/post/314946731655208","isVote":1,"tweetType":1,"viewCount":27974,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322015072575664,"gmtCreate":1719647444186,"gmtModify":1721924879781,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/NKE 20240628 85.0 PUT\">$NKE 20240628 85.0 PUT$ </a> ,Never and did not expect such a big drop market is very unforgiving","listText":"I closed <a href=\"https://ttm.financial/OPT/NKE 20240628 85.0 PUT\">$NKE 20240628 85.0 PUT$ </a> ,Never and did not expect such a big drop market is very unforgiving","text":"I closed $NKE 20240628 85.0 PUT$ ,Never and did not expect such a big drop market is very unforgiving","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":109,"commentSize":12,"repostSize":520,"link":"https://ttm.financial/post/322015072575664","isVote":1,"tweetType":1,"viewCount":12288,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4107949691038080","authorId":"4107949691038080","name":"dghl","avatar":"https://community-static.tradeup.com/news/3579a287f776d3da07cbc1443c600f49","crmLevel":7,"crmLevelSwitch":1,"idStr":"4107949691038080","authorIdStr":"4107949691038080"},"content":"Take shares? What’s the plan moving forward?","text":"Take shares? What’s the plan moving forward?","html":"Take shares? What’s the plan moving forward?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312503946666304,"gmtCreate":1717320723146,"gmtModify":1721923678151,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240531 290.0 CALL\">$COIN 20240531 290.0 CALL$ </a> ,Take a look at the latest order I posted!","listText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240531 290.0 CALL\">$COIN 20240531 290.0 CALL$ </a> ,Take a look at the latest order I posted!","text":"I closed $COIN 20240531 290.0 CALL$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":435,"commentSize":7,"repostSize":457,"link":"https://ttm.financial/post/312503946666304","isVote":1,"tweetType":1,"viewCount":22495,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314947165917200,"gmtCreate":1717922868945,"gmtModify":1730731078377,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/CRM 20240607 255.0 CALL\">$CRM 20240607 255.0 CALL$ </a> ,Stock was oversold after earnings","listText":"I closed <a href=\"https://ttm.financial/OPT/CRM 20240607 255.0 CALL\">$CRM 20240607 255.0 CALL$ </a> ,Stock was oversold after earnings","text":"I closed $CRM 20240607 255.0 CALL$ ,Stock was oversold after earnings","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":559,"commentSize":8,"repostSize":384,"link":"https://ttm.financial/post/314947165917200","isVote":1,"tweetType":1,"viewCount":27698,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4174015591947862","authorId":"4174015591947862","name":"Beepeng0804","avatar":"https://community-static.tradeup.com/news/df8e84f4689e83bebfcde8c5f1464800","crmLevel":1,"crmLevelSwitch":0,"idStr":"4174015591947862","authorIdStr":"4174015591947862"},"content":"[Money fan] [happy] [proud]","text":"[Money fan] [happy] [proud]","html":"[Money fan] [happy] [proud]"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":319889290621064,"gmtCreate":1719126914084,"gmtModify":1721923678402,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/TSLA 20240621 1.67 PUT\">$TSLA 20240621 1.67 PUT$ </a> ,Sold this many moons ago when Tesla was dropping …ppl were so bearish …1.67","listText":"I closed <a href=\"https://ttm.financial/OPT/TSLA 20240621 1.67 PUT\">$TSLA 20240621 1.67 PUT$ </a> ,Sold this many moons ago when Tesla was dropping …ppl were so bearish …1.67","text":"I closed $TSLA 20240621 1.67 PUT$ ,Sold this many moons ago when Tesla was dropping …ppl were so bearish …1.67","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":501,"commentSize":4,"repostSize":337,"link":"https://ttm.financial/post/319889290621064","isVote":1,"tweetType":1,"viewCount":26211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312504163631144,"gmtCreate":1717320727902,"gmtModify":1721923678213,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240531 270.0 CALL\">$COIN 20240531 270.0 CALL$ </a> ,Take a look at the latest order I posted!","listText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240531 270.0 CALL\">$COIN 20240531 270.0 CALL$ </a> ,Take a look at the latest order I posted!","text":"I closed $COIN 20240531 270.0 CALL$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":412,"commentSize":7,"repostSize":342,"link":"https://ttm.financial/post/312504163631144","isVote":1,"tweetType":1,"viewCount":19958,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":310180848988248,"gmtCreate":1716732337497,"gmtModify":1720512617664,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/NVAX 20240524 20.0 CALL\">$NVAX 20240524 20.0 CALL$ </a> ,Take a look at the latest order I posted!","listText":"I closed <a href=\"https://ttm.financial/OPT/NVAX 20240524 20.0 CALL\">$NVAX 20240524 20.0 CALL$ </a> ,Take a look at the latest order I posted!","text":"I closed $NVAX 20240524 20.0 CALL$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":417,"commentSize":9,"repostSize":317,"link":"https://ttm.financial/post/310180848988248","isVote":1,"tweetType":1,"viewCount":26436,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4093561479903300","authorId":"4093561479903300","name":"SPACE ROCKET","avatar":"https://community-static.tradeup.com/news/8d914d0fac29a13d969545b323fbfe8a","crmLevel":9,"crmLevelSwitch":1,"idStr":"4093561479903300","authorIdStr":"4093561479903300"},"content":"Congrats dearie!! 🙌🫶","text":"Congrats dearie!! 🙌🫶","html":"Congrats dearie!! 🙌🫶"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":319889431453888,"gmtCreate":1719127188558,"gmtModify":1720512221160,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/NVAX 20240621 30.0 CALL\">$NVAX 20240621 30.0 CALL$ </a> ,Another stock that dropped from 270 to 13 dollars…","listText":"I closed <a href=\"https://ttm.financial/OPT/NVAX 20240621 30.0 CALL\">$NVAX 20240621 30.0 CALL$ </a> ,Another stock that dropped from 270 to 13 dollars…","text":"I closed $NVAX 20240621 30.0 CALL$ ,Another stock that dropped from 270 to 13 dollars…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":462,"commentSize":6,"repostSize":304,"link":"https://ttm.financial/post/319889431453888","isVote":1,"tweetType":1,"viewCount":20745,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4087880939339260","authorId":"4087880939339260","name":"33Serene63","avatar":"https://static.tigerbbs.com/bd42fccdccffae4fcf492aa9ff09ee68","crmLevel":2,"crmLevelSwitch":0,"idStr":"4087880939339260","authorIdStr":"4087880939339260"},"content":"One door closes but another door opens …","text":"One door closes but another door opens …","html":"One door closes but another door opens …"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314946779353288,"gmtCreate":1717922758533,"gmtModify":1721923678088,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240607 290.0 CALL\">$COIN 20240607 290.0 CALL$ </a> ,Will it reach 290?","listText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240607 290.0 CALL\">$COIN 20240607 290.0 CALL$ </a> ,Will it reach 290?","text":"I closed $COIN 20240607 290.0 CALL$ ,Will it reach 290?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":498,"commentSize":4,"repostSize":294,"link":"https://ttm.financial/post/314946779353288","isVote":1,"tweetType":1,"viewCount":22736,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326706025447680,"gmtCreate":1720795578615,"gmtModify":1720795593072,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"Have a dip in an infinity pool overlooking endless boundaries of openness and greenery is the best","listText":"Have a dip in an infinity pool overlooking endless boundaries of openness and greenery is the best","text":"Have a dip in an infinity pool overlooking endless boundaries of openness and greenery is the best","images":[{"img":"https://community-static.tradeup.com/news/2350e8911b534a12dc2ce8ea138d94b7"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":62,"commentSize":3,"repostSize":400,"link":"https://ttm.financial/post/326706025447680","isVote":1,"tweetType":1,"viewCount":8059,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":305025674760200,"gmtCreate":1715503734292,"gmtModify":1720512617535,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240510 270.0 CALL\">$COIN 20240510 270.0 CALL$ </a> ,Take a look at the latest order I posted!","listText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240510 270.0 CALL\">$COIN 20240510 270.0 CALL$ </a> ,Take a look at the latest order I posted!","text":"I closed $COIN 20240510 270.0 CALL$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":429,"commentSize":9,"repostSize":304,"link":"https://ttm.financial/post/305025674760200","isVote":1,"tweetType":1,"viewCount":23458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":307483684036648,"gmtCreate":1716104506919,"gmtModify":1716172201995,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I opened <a href=\"https://ttm.financial/OPT/COIN 20240517 242.5 CALL\">$COIN 20240517 242.5 CALL$ </a> ,Take a look at the latest order I posted!","listText":"I opened <a href=\"https://ttm.financial/OPT/COIN 20240517 242.5 CALL\">$COIN 20240517 242.5 CALL$ </a> ,Take a look at the latest order I posted!","text":"I opened $COIN 20240517 242.5 CALL$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":342,"commentSize":13,"repostSize":289,"link":"https://ttm.financial/post/307483684036648","isVote":1,"tweetType":1,"viewCount":18594,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4103089604754610","authorId":"4103089604754610","name":"jethro","avatar":"https://static.tigerbbs.com/445b4765728802a2e3b3795587bae0a3","crmLevel":6,"crmLevelSwitch":1,"idStr":"4103089604754610","authorIdStr":"4103089604754610"},"content":"Thanks for sharing 🙏","text":"Thanks for sharing 🙏","html":"Thanks for sharing 🙏"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":310180814663920,"gmtCreate":1716732333234,"gmtModify":1721924880043,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240524 255.0 CALL\">$COIN 20240524 255.0 CALL$ </a> ,Take a look at the latest order I posted!","listText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240524 255.0 CALL\">$COIN 20240524 255.0 CALL$ </a> ,Take a look at the latest order I posted!","text":"I closed $COIN 20240524 255.0 CALL$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":395,"commentSize":6,"repostSize":263,"link":"https://ttm.financial/post/310180814663920","isVote":1,"tweetType":1,"viewCount":21359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":319890835009656,"gmtCreate":1719127290102,"gmtModify":1721924880104,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/GME 20240621 65.0 CALL\">$GME 20240621 65.0 CALL$ </a> ,Speculative trade …. Please dyod","listText":"I closed <a href=\"https://ttm.financial/OPT/GME 20240621 65.0 CALL\">$GME 20240621 65.0 CALL$ </a> ,Speculative trade …. Please dyod","text":"I closed $GME 20240621 65.0 CALL$ ,Speculative trade …. Please dyod","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":424,"commentSize":5,"repostSize":250,"link":"https://ttm.financial/post/319890835009656","isVote":1,"tweetType":1,"viewCount":21515,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":307612349362296,"gmtCreate":1716104510405,"gmtModify":1716114337012,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I opened <a href=\"https://ttm.financial/OPT/NVAX 20240517 22.0 CALL\">$NVAX 20240517 22.0 CALL$ </a> ,Take a look at the latest order I posted!","listText":"I opened <a href=\"https://ttm.financial/OPT/NVAX 20240517 22.0 CALL\">$NVAX 20240517 22.0 CALL$ </a> ,Take a look at the latest order I posted!","text":"I opened $NVAX 20240517 22.0 CALL$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":342,"commentSize":7,"repostSize":257,"link":"https://ttm.financial/post/307612349362296","isVote":1,"tweetType":1,"viewCount":17412,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312503943283000,"gmtCreate":1717320719257,"gmtModify":1720512617856,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/NVAX 20240531 26.5 CALL\">$NVAX 20240531 26.5 CALL$ </a> ,Take a look at the latest order I posted!","listText":"I closed <a href=\"https://ttm.financial/OPT/NVAX 20240531 26.5 CALL\">$NVAX 20240531 26.5 CALL$ </a> ,Take a look at the latest order I posted!","text":"I closed $NVAX 20240531 26.5 CALL$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":373,"commentSize":7,"repostSize":239,"link":"https://ttm.financial/post/312503943283000","isVote":1,"tweetType":1,"viewCount":16216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":302698093236464,"gmtCreate":1714920418160,"gmtModify":1720512617788,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240503 267.5 CALL\">$COIN 20240503 267.5 CALL$ </a> ,Take a look at the latest order I posted!","listText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240503 267.5 CALL\">$COIN 20240503 267.5 CALL$ </a> ,Take a look at the latest order I posted!","text":"I closed $COIN 20240503 267.5 CALL$ ,Take a look at the latest order I posted!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":308,"commentSize":4,"repostSize":218,"link":"https://ttm.financial/post/302698093236464","isVote":1,"tweetType":1,"viewCount":17540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322598519386312,"gmtCreate":1719789891591,"gmtModify":1721924879971,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240628 285.0 CALL\">$COIN 20240628 285.0 CALL$ </a> ,Expire worthless","listText":"I closed <a href=\"https://ttm.financial/OPT/COIN 20240628 285.0 CALL\">$COIN 20240628 285.0 CALL$ </a> ,Expire worthless","text":"I closed $COIN 20240628 285.0 CALL$ ,Expire worthless","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":343,"commentSize":5,"repostSize":202,"link":"https://ttm.financial/post/322598519386312","isVote":1,"tweetType":1,"viewCount":13954,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367494191738960,"gmtCreate":1730735883464,"gmtModify":1730736750438,"author":{"id":"3554449592029615","authorId":"3554449592029615","name":"BillionaireN","avatar":"https://community-static.tradeup.com/news/285e4ef21515e874f0dc6d5f7d1a2834","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554449592029615","authorIdStr":"3554449592029615"},"themes":[],"htmlText":"I opened <a href=\"https://ttm.financial/OPT/EQIX 20241220 750.0 PUT\">$EQIX 20241220 750.0 PUT$ </a> ,Selling put option for equinix for Dec expiry strong company with strong earnings","listText":"I opened <a href=\"https://ttm.financial/OPT/EQIX 20241220 750.0 PUT\">$EQIX 20241220 750.0 PUT$ </a> ,Selling put option for equinix for Dec expiry strong company with strong earnings","text":"I opened $EQIX 20241220 750.0 PUT$ ,Selling put option for equinix for Dec expiry strong company with strong earnings","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":6,"link":"https://ttm.financial/post/367494191738960","isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}