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2022-04-26

$Razer(01337)$lai lai what's the verdict? Delist successful or not? Got instant buy 2.73 sell 2.82?

2021-06-16

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Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets

2021-06-18

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Nasdaq closes up on tech stocks strength, as hawkish Fed limits S&P

2021-08-12

$Alibaba(09988)$like and comment pls

2022-02-25

$CENTURION CORPORATION LIMITED(OU8.SI)$disappointing dividend declared

2021-09-09

$Razer(01337)$like and comment

2021-06-23

$Razer(01337)$comment pls

2021-05-23

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Here Are the 3 Bank Moves Warren Buffett Has Made So Far in 2021

2021-09-17

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2021-06-25

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Nasdaq and S&P 500 end at record highs; Dow rallies

2021-05-23

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Roku Continues to Stream Profits for Loyal Investors

2021-09-09

$HONGKONG LAND HOLDINGS LIMITED(H78.SI)$undervalued with good dividend

2021-06-18

$Alibaba(09988)$huat

2021-09-22

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2021-09-15

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2021-09-08

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2021-08-22

Buy now and hold

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2021-08-07

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2021-09-19

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2021-09-14

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tmr I will buy!","listText":"Thanks tmr I will buy!","text":"Thanks tmr I will buy!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/243519553536064","repostId":"2384589323","repostType":2,"repost":{"id":"2384589323","pubTimestamp":1700488117,"share":"https://ttm.financial/m/news/2384589323?lang=&edition=fundamental","pubTime":"2023-11-20 21:48","market":"us","language":"en","title":"Alibaba: Don't Fall For This Trap","url":"https://stock-news.laohu8.com/highlight/detail?id=2384589323","media":"seekingalpha","summary":"Let's figure it out. Alibaba's Q2 Results Weren't That Bad Alibaba Group experienced a 9% stock drop after reporting its second-quarter results, which included revenue of RMB224.79 billion , growing 8.5% year-over-year but falling short of analysts' expectations. But non-GAAP earnings per American depositary share  increased by 21% to RMB15.63 , surpassing estimates. Seeking Alpha News Segment-wise, revenue for Taobao and Tmall Group reached RMB97.7 billion, up 4%, with adjusted EBITDA increasing by 3% to RMB47.1 billion. Alibaba International Digital Commerce Group reported revenue of RMB24.5 billion, a 53% increase, while Cainiao's total revenue grew by 25% to RMB22.8 billion. Local Services Group revenue rose by 16% to RMB15.6 billion. Cloud Intelligence Group generated revenue of RMB27.6 billion, a 2% increase, while its adjusted EBITDA increased by 44% to RMB1.4 billion. The Digital Media Entertainment group reported revenue of RMB5.8 billion, marking an 11% increase, with an impr","content":"<html><head></head><body><ul style=\"\"><li><p>Alibaba&#39;s Q2 results fell short of expectations, but non-GAAP earnings per ADS surpassed estimates.</p></li><li><p>The bullish catalyst, which was supposed to facilitate BABA’s business processes and enable the individual companies to grow faster under conditions of relative independence, has not materialized.</p></li><li><p>Alibaba&#39;s low valuation is mainly due to a lack of growth, making it less attractive compared to other companies in the same industry.</p></li><li><p>I still don&#39;t see the point of buying the Chinese giant for 7.57x FY2029 P/E to get a 6-year EPS CAGR of 4.1% when I can buy <a href=\"https://laohu8.com/S/EBAY\">eBay</a> for 6.64x and get a CAGR of 6.6%.</p></li><li><p>I do not recommend investors buy BABA shares, no matter how cheap and promising they may seem at first glance.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f805543ab3786cb8cb1d7d9034e0368\" tg-width=\"750\" tg-height=\"500\"/></p><p>Robert Way</p><h2 id=\"id_3023641657\">Introduction</h2><p>I&#39;ve been covering <strong>Alibaba Group Holding Limited</strong> (NYSE:BABA) here on Seeking Alpha since September 2021. I started with a &#39;Sell&#39; rating when Alibaba was trading at $150 per share and upgraded the stock to &#39;Hold&#39; in December 2021 when the shares started trading at $113. Since then, I&#39;ve not changed my rating, although BABA kept falling lower.</p><p>The last time I published my &#39;Hold&#39; article was at the end of August 2023: At that time, I noted that BABA&#39;s attractiveness for Western investors wasn&#39;t really changing from a fundamental perspective, despite the obvious undervaluation. As time has shown, that thesis was correct, as the already cheap Chinese tech giant became even cheaper.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b2f2064f6a0cfcde1d0e9ba1c35b075\" tg-width=\"640\" tg-height=\"323\"/></p><p>Seeking Alpha, author&#39;s notes</p><p>On November 16, 2023, Alibaba published its reports for Q2 FY2024, which had a strong negative impact not only on its own shares but also on the entire tech sector in China. What happened and is it really that bad? Maybe BABA has now become a &#39;bargain&#39;? Let&#39;s figure it out.</p><h2 id=\"id_2364546700\">Alibaba&#39;s Q2 Results Weren&#39;t That Bad</h2><p>Alibaba Group experienced a 9% stock drop after reporting its second-quarter results, which included revenue of RMB224.79 billion ($30.81 billion), growing 8.5% year-over-year but falling short of analysts&#39; expectations. But non-GAAP earnings per American depositary share (ADS) increased by 21% to RMB15.63 ($2.14), surpassing estimates.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abe690de6ca639b19d15e44fb7751e43\" tg-width=\"640\" tg-height=\"375\"/></p><p>Seeking Alpha News</p><p>Segment-wise, revenue for Taobao and Tmall Group reached RMB97.7 billion, up 4%, with adjusted EBITDA increasing by 3% to RMB47.1 billion. Alibaba International Digital Commerce Group reported revenue of RMB24.5 billion, a 53% increase, while Cainiao&#39;s total revenue grew by 25% to RMB22.8 billion. Local Services Group revenue rose by 16% to RMB15.6 billion.</p><p>Cloud Intelligence Group generated revenue of RMB27.6 billion, a 2% increase, while its adjusted EBITDA increased by 44% to RMB1.4 billion. The Digital Media Entertainment group reported revenue of RMB5.8 billion, marking an 11% increase, with an improved adjusted EBITDA loss of RMB201 million compared to RMB362 million. The All Other segment, including DingTalk and Intelligent Information Platform, reported stable revenue at RMB48.1 billion and an adjusted EBITDA loss of RMB1.4 billion compared to RMB2.9 billion in the same quarter last year, primarily due to improved operating results from various businesses within the segment.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f079d95db1bcd6936771edae5f66ad82\" tg-width=\"640\" tg-height=\"343\"/></p><p>BABA&#39;s IR materials [November 2023]</p><p>Cost trends, excluding share-based compensation (SBC), revealed a decrease in the cost of revenue ratio to 62%, stability in product development expenses (5%), sales and marketing expenses (11%), and a 1% decrease in general and administrative expenses (3%).</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/801092f739134e38068d82e084028aa1\" tg-width=\"640\" tg-height=\"330\"/></p><p>BABA&#39;s IR materials [November 2023]</p><p>The company repurchased ~$3 billion worth of shares from July 1 to November 15, accounting for 1.3% of total shares outstanding [~18.6 million ADSs]. Free cash flow for the quarter was RMB45.2 billion or $6.2 billion, reflecting a massive 27% increase YoY.</p><p>During the latest earnings call, the management emphasized 3 priorities for cash deployment in the upcoming quarter: innovation for growth, reducing total shares outstanding through accretive stock repurchases, and rewarding long-term investors via dividends. In addition to the existing $40 billion share repurchase program, Alibaba&#39;s board approved an annual cash dividend of US$0.125 per ordinary share or US$1.00 per ADS for fiscal year 2023, totaling ~$2.5 billion, with a payment date expected around January 11, 2024, for ordinary shareholders and January 18, 2024, for ADS holders.</p><p>As of September 30, 2023, Alibaba maintained a strong net cash position of RMB457.8 billion or $62.7 billion. At the same time, the company&#39;s current ratio is 1.94 and the debt-to-equity ratio is only 0.16, which is very low. So BABA&#39;s financial strength looks solid with such a low level of debt and good liquidity.</p><h2 id=\"id_1338785005\">But A New Catalyst Is Already A Thing Of The Past</h2><p>I remember a few months ago when the Alibaba bulls were trying to assess the positive impact of the proposed split of the company into different companies. At the time, many thought that BABA would unlock tremendous value for its shareholders if it split into 6 separate companies that would not interfere with each other&#39;s potential growth rate.</p><p>As time has shown, this catalyst was not to prove true: During the earnings call, management announced that Alibaba had decided not to pursue a full spin-off of the Cloud Intelligence Group due to uncertainties caused by US export restrictions on advanced computer chips. That was a surprise to the market - I think this is why the stock fell so sharply after the announcement.</p><p>The emphasis now is on investing in the core businesses, including Taobao and Tmall Group, for sustainable growth. Alibaba wants to increase its ROIC to double digits in the next few years, focusing on core businesses and ensuring non-core businesses become profitable, potentially monetizing certain investments to increase cash flow.</p><p>In my subjective opinion, BABA’s problem for a long time was precisely the lack of appropriate growth in the cloud segment. While Google (GOOG), Microsoft (MSFT), and Amazon (AMZN), to which BABA is often compared, continue to grow revenue in their cloud business segments at solid double-digit rates, Alibaba&#39;s Cloud is stagnating and losing more and more global market share. AI technologies are an excellent growth driver for this niche, but for some reason, BABA&#39;s cloud still refuses to grow even though we keep hearing about AI constantly.</p><p>From the last earnings call, I realized that <strong>Alibaba&#39;s future growth will be closely linked to &#39;Value&#39; segments whose growth will heavily depend on the macroeconomic conditions in China</strong> after the post-COVID low-base effect disappears, which has not yet fully materialized.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b5ae8faa3881acff6c7b9e92ede4f2ed\" tg-width=\"640\" tg-height=\"455\"/></p><p>YCharts, author&#39;s notes</p><p>Goldman Sach notes in its October report [proprietary source], that slower growth, coupled with policy uncertainty and geopolitical risks, is lowering China&#39;s equity market fair value. However, the report suggests that while these factors are already priced in, investment opportunities lie more in alpha themes than broad market beta.</p><p>China&#39;s GDP will most likely stop growing as before. I assume that Alibaba&#39;s already high market penetration in various Chinese markets makes the company&#39;s growth more variable, which could justify its current low valuation.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ddee6c1ca09cb057d9f22c78e80fb06a\" tg-width=\"640\" tg-height=\"511\"/></p><p>Goldman Sachs [October 2023] - proprietary source</p><p>Yes, it is hard to believe that the current valuation of the company may be fair: BABA looks extremely undervalued with a P/E ratio for next year of ~8.8x and an EV/EBITDA of ~6.7x.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cb157da684786f7e6ee0470b55d84105\" tg-width=\"635\" tg-height=\"467\"/></p><p>Data by YCharts</p><p>I think we could easily see price increases of 10-20-30% against this backdrop. But most likely these potential &#39;rips&#39; will be used by hedge funds to exit their positions, as has happened many times before. But even now that there are no &#34;rips&#34; in the Chinese market, hedge funds continue to exit their positions.</p><blockquote><p>US and European fund managers have sold a net $1.6 billion of Chinese shares so far this month, following $3.5 billion of outflows in September, data from EPFR Global and Morgan Stanley show.</p><p>Source: Bloomberg [October 19, 2023]</p></blockquote><p>I suggest we return to the burning issue - Alibaba&#39;s low valuation. Let&#39;s think for a moment about what might explain BABA&#39;s current cheapness. You might think that BABA&#39;s P/E ratio is probably below 10x due to geopolitics and market overreaction. I will answer you that this is true to some extent, but mainly BABA is cheap because there is no growth (almost). If we take the long-term consensus estimates for earnings per share and the implied P/E ratios, we see that BABA is actually valued slightly higher than eBay (EBAY) today:</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d7e2b3f55b77b3e323cd6e5ec8f19e32\" tg-width=\"640\" tg-height=\"385\"/></p><p>Author&#39;s calculations, Seeking Alpha data</p><p>By overpaying just 2x to BABA&#39;s long-term P/E ratio of BABA, you can buy <a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a> (MELI), whose EPS is estimated to grow more than 8 times faster over the same period (6 years). <em>Could anyone find &#39;fairness&#39; in the valuation of the two companies?</em></p><h2 id=\"id_4226314352\">The Bottom Line</h2><p>I understand that when comparing BABA with MELI, I&#39;m doing a little wrong by comparing companies with different business cycles. But I still don&#39;t see the point of buying the Chinese giant for 7.57x FY2029 P/E to get a 6-year EPS CAGR of 4.1% when I can buy eBay for 6.64x and get a CAGR of 6.6% (these 2 companies are roughly in the same business cycle).</p><p>The bullish catalyst, which was supposed to facilitate BABA’s business processes and enable the individual companies to grow faster under conditions of relative independence, has not materialized. Now I expect Alibaba to constrain itself and have relatively modest growth rates for which it makes no sense to overpay and take a big country risk when there are cheaper analogs in the U.S. (and even more so in emerging markets like Brazil).</p><p>Yes, Alibaba&#39;s financial position is very solid as the company continues to recover operationally and continues to buy shares from the market in large quantities. Therefore, I wouldn&#39;t be surprised if the company&#39;s shares suddenly rebound strongly. However, this potential recovery in stock price will likely provide an opportunity for the remaining investors to get out.</p><p>Based on the above, I do not recommend investors buy BABA shares, no matter how cheap and promising they may seem at first glance.</p><p><em>Thanks for reading!</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>Alibaba: Don't Fall For This Trap</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: Don't Fall For This Trap\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-11-20 21:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4653008-alibaba-dont-fall-for-this-trap><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba's Q2 results fell short of expectations, but non-GAAP earnings per ADS surpassed estimates.The bullish catalyst, which was supposed to facilitate BABA’s business processes and enable the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4653008-alibaba-dont-fall-for-this-trap\">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/4653008-alibaba-dont-fall-for-this-trap","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2384589323","content_text":"Alibaba's Q2 results fell short of expectations, but non-GAAP earnings per ADS surpassed estimates.The bullish catalyst, which was supposed to facilitate BABA’s business processes and enable the individual companies to grow faster under conditions of relative independence, has not materialized.Alibaba's low valuation is mainly due to a lack of growth, making it less attractive compared to other companies in the same industry.I still don't see the point of buying the Chinese giant for 7.57x FY2029 P/E to get a 6-year EPS CAGR of 4.1% when I can buy eBay for 6.64x and get a CAGR of 6.6%.I do not recommend investors buy BABA shares, no matter how cheap and promising they may seem at first glance.Robert WayIntroductionI've been covering Alibaba Group Holding Limited (NYSE:BABA) here on Seeking Alpha since September 2021. I started with a 'Sell' rating when Alibaba was trading at $150 per share and upgraded the stock to 'Hold' in December 2021 when the shares started trading at $113. Since then, I've not changed my rating, although BABA kept falling lower.The last time I published my 'Hold' article was at the end of August 2023: At that time, I noted that BABA's attractiveness for Western investors wasn't really changing from a fundamental perspective, despite the obvious undervaluation. As time has shown, that thesis was correct, as the already cheap Chinese tech giant became even cheaper.Seeking Alpha, author's notesOn November 16, 2023, Alibaba published its reports for Q2 FY2024, which had a strong negative impact not only on its own shares but also on the entire tech sector in China. What happened and is it really that bad? Maybe BABA has now become a 'bargain'? Let's figure it out.Alibaba's Q2 Results Weren't That BadAlibaba Group experienced a 9% stock drop after reporting its second-quarter results, which included revenue of RMB224.79 billion ($30.81 billion), growing 8.5% year-over-year but falling short of analysts' expectations. But non-GAAP earnings per American depositary share (ADS) increased by 21% to RMB15.63 ($2.14), surpassing estimates.Seeking Alpha NewsSegment-wise, revenue for Taobao and Tmall Group reached RMB97.7 billion, up 4%, with adjusted EBITDA increasing by 3% to RMB47.1 billion. Alibaba International Digital Commerce Group reported revenue of RMB24.5 billion, a 53% increase, while Cainiao's total revenue grew by 25% to RMB22.8 billion. Local Services Group revenue rose by 16% to RMB15.6 billion.Cloud Intelligence Group generated revenue of RMB27.6 billion, a 2% increase, while its adjusted EBITDA increased by 44% to RMB1.4 billion. The Digital Media Entertainment group reported revenue of RMB5.8 billion, marking an 11% increase, with an improved adjusted EBITDA loss of RMB201 million compared to RMB362 million. The All Other segment, including DingTalk and Intelligent Information Platform, reported stable revenue at RMB48.1 billion and an adjusted EBITDA loss of RMB1.4 billion compared to RMB2.9 billion in the same quarter last year, primarily due to improved operating results from various businesses within the segment.BABA's IR materials [November 2023]Cost trends, excluding share-based compensation (SBC), revealed a decrease in the cost of revenue ratio to 62%, stability in product development expenses (5%), sales and marketing expenses (11%), and a 1% decrease in general and administrative expenses (3%).BABA's IR materials [November 2023]The company repurchased ~$3 billion worth of shares from July 1 to November 15, accounting for 1.3% of total shares outstanding [~18.6 million ADSs]. Free cash flow for the quarter was RMB45.2 billion or $6.2 billion, reflecting a massive 27% increase YoY.During the latest earnings call, the management emphasized 3 priorities for cash deployment in the upcoming quarter: innovation for growth, reducing total shares outstanding through accretive stock repurchases, and rewarding long-term investors via dividends. In addition to the existing $40 billion share repurchase program, Alibaba's board approved an annual cash dividend of US$0.125 per ordinary share or US$1.00 per ADS for fiscal year 2023, totaling ~$2.5 billion, with a payment date expected around January 11, 2024, for ordinary shareholders and January 18, 2024, for ADS holders.As of September 30, 2023, Alibaba maintained a strong net cash position of RMB457.8 billion or $62.7 billion. At the same time, the company's current ratio is 1.94 and the debt-to-equity ratio is only 0.16, which is very low. So BABA's financial strength looks solid with such a low level of debt and good liquidity.But A New Catalyst Is Already A Thing Of The PastI remember a few months ago when the Alibaba bulls were trying to assess the positive impact of the proposed split of the company into different companies. At the time, many thought that BABA would unlock tremendous value for its shareholders if it split into 6 separate companies that would not interfere with each other's potential growth rate.As time has shown, this catalyst was not to prove true: During the earnings call, management announced that Alibaba had decided not to pursue a full spin-off of the Cloud Intelligence Group due to uncertainties caused by US export restrictions on advanced computer chips. That was a surprise to the market - I think this is why the stock fell so sharply after the announcement.The emphasis now is on investing in the core businesses, including Taobao and Tmall Group, for sustainable growth. Alibaba wants to increase its ROIC to double digits in the next few years, focusing on core businesses and ensuring non-core businesses become profitable, potentially monetizing certain investments to increase cash flow.In my subjective opinion, BABA’s problem for a long time was precisely the lack of appropriate growth in the cloud segment. While Google (GOOG), Microsoft (MSFT), and Amazon (AMZN), to which BABA is often compared, continue to grow revenue in their cloud business segments at solid double-digit rates, Alibaba's Cloud is stagnating and losing more and more global market share. AI technologies are an excellent growth driver for this niche, but for some reason, BABA's cloud still refuses to grow even though we keep hearing about AI constantly.From the last earnings call, I realized that Alibaba's future growth will be closely linked to 'Value' segments whose growth will heavily depend on the macroeconomic conditions in China after the post-COVID low-base effect disappears, which has not yet fully materialized.YCharts, author's notesGoldman Sach notes in its October report [proprietary source], that slower growth, coupled with policy uncertainty and geopolitical risks, is lowering China's equity market fair value. However, the report suggests that while these factors are already priced in, investment opportunities lie more in alpha themes than broad market beta.China's GDP will most likely stop growing as before. I assume that Alibaba's already high market penetration in various Chinese markets makes the company's growth more variable, which could justify its current low valuation.Goldman Sachs [October 2023] - proprietary sourceYes, it is hard to believe that the current valuation of the company may be fair: BABA looks extremely undervalued with a P/E ratio for next year of ~8.8x and an EV/EBITDA of ~6.7x.Data by YChartsI think we could easily see price increases of 10-20-30% against this backdrop. But most likely these potential 'rips' will be used by hedge funds to exit their positions, as has happened many times before. But even now that there are no \"rips\" in the Chinese market, hedge funds continue to exit their positions.US and European fund managers have sold a net $1.6 billion of Chinese shares so far this month, following $3.5 billion of outflows in September, data from EPFR Global and Morgan Stanley show.Source: Bloomberg [October 19, 2023]I suggest we return to the burning issue - Alibaba's low valuation. Let's think for a moment about what might explain BABA's current cheapness. You might think that BABA's P/E ratio is probably below 10x due to geopolitics and market overreaction. I will answer you that this is true to some extent, but mainly BABA is cheap because there is no growth (almost). If we take the long-term consensus estimates for earnings per share and the implied P/E ratios, we see that BABA is actually valued slightly higher than eBay (EBAY) today:Author's calculations, Seeking Alpha dataBy overpaying just 2x to BABA's long-term P/E ratio of BABA, you can buy MercadoLibre (MELI), whose EPS is estimated to grow more than 8 times faster over the same period (6 years). Could anyone find 'fairness' in the valuation of the two companies?The Bottom LineI understand that when comparing BABA with MELI, I'm doing a little wrong by comparing companies with different business cycles. But I still don't see the point of buying the Chinese giant for 7.57x FY2029 P/E to get a 6-year EPS CAGR of 4.1% when I can buy eBay for 6.64x and get a CAGR of 6.6% (these 2 companies are roughly in the same business cycle).The bullish catalyst, which was supposed to facilitate BABA’s business processes and enable the individual companies to grow faster under conditions of relative independence, has not materialized. Now I expect Alibaba to constrain itself and have relatively modest growth rates for which it makes no sense to overpay and take a big country risk when there are cheaper analogs in the U.S. (and even more so in emerging markets like Brazil).Yes, Alibaba's financial position is very solid as the company continues to recover operationally and continues to buy shares from the market in large quantities. Therefore, I wouldn't be surprised if the company's shares suddenly rebound strongly. However, this potential recovery in stock price will likely provide an opportunity for the remaining investors to get out.Based on the above, I do not recommend investors buy BABA shares, no matter how cheap and promising they may seem at first glance.Thanks for reading!","news_type":1},"isVote":1,"tweetType":1,"viewCount":253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9087371865,"gmtCreate":1650964401880,"gmtModify":1676534823975,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/01337\">$Razer(01337)$</a>lai lai what's the verdict? Delist successful or not? Got instant buy 2.73 sell 2.82?&nbsp;","listText":"<a href=\"https://ttm.financial/S/01337\">$Razer(01337)$</a>lai lai what's the verdict? Delist successful or not? Got instant buy 2.73 sell 2.82?&nbsp;","text":"$Razer(01337)$lai lai what's the verdict? Delist successful or not? Got instant buy 2.73 sell 2.82?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087371865","isVote":1,"tweetType":1,"viewCount":1123,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574851738178187","authorId":"3574851738178187","name":"CRHT","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"idStr":"3574851738178187","authorIdStr":"3574851738178187"},"content":"Sorry, first time encountering delist. How does it work? Do we trade/sell it back to the company on this app?","text":"Sorry, first time encountering delist. How does it work? Do we trade/sell it back to the company on this app?","html":"Sorry, first time encountering delist. How does it work? Do we trade/sell it back to the company on this app?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030513140,"gmtCreate":1645752972417,"gmtModify":1676534060992,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/OU8.SI\">$CENTURION CORPORATION LIMITED(OU8.SI)$</a>disappointing dividend declared","listText":"<a href=\"https://ttm.financial/S/OU8.SI\">$CENTURION CORPORATION LIMITED(OU8.SI)$</a>disappointing dividend declared","text":"$CENTURION CORPORATION LIMITED(OU8.SI)$disappointing dividend declared","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030513140","isVote":1,"tweetType":1,"viewCount":970,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3572317282894329","authorId":"3572317282894329","name":"qianx","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"idStr":"3572317282894329","authorIdStr":"3572317282894329"},"content":"hi, may i know where to see the declared div?","text":"hi, may i know where to see the declared div?","html":"hi, may i know where to see the declared 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comment","images":[{"img":"https://static.tigerbbs.com/bbe9fdd3633512908779eccd78800dac","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882161842","isVote":1,"tweetType":1,"viewCount":249,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":882161162,"gmtCreate":1631667671056,"gmtModify":1676530603714,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/01337\">$Razer(01337)$</a>like and comment","listText":"<a href=\"https://laohu8.com/S/01337\">$Razer(01337)$</a>like and comment","text":"$Razer(01337)$like and comment","images":[{"img":"https://static.tigerbbs.com/a4a51272048f6826173d3e14c57c9408","width":"1080","height":"3153"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882161162","isVote":1,"tweetType":1,"viewCount":94,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":886160659,"gmtCreate":1631575727771,"gmtModify":1676530577317,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/00468\">$GAPACK(00468)$</a>like and comment","listText":"<a href=\"https://laohu8.com/S/00468\">$GAPACK(00468)$</a>like and comment","text":"$GAPACK(00468)$like and comment","images":[{"img":"https://static.tigerbbs.com/9e7cd49c4fb7ea12b45a41da3d0492c1","width":"1080","height":"3153"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886160659","isVote":1,"tweetType":1,"viewCount":346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":9087371865,"gmtCreate":1650964401880,"gmtModify":1676534823975,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/01337\">$Razer(01337)$</a>lai lai what's the verdict? Delist successful or not? Got instant buy 2.73 sell 2.82?&nbsp;","listText":"<a href=\"https://ttm.financial/S/01337\">$Razer(01337)$</a>lai lai what's the verdict? Delist successful or not? Got instant buy 2.73 sell 2.82?&nbsp;","text":"$Razer(01337)$lai lai what's the verdict? Delist successful or not? Got instant buy 2.73 sell 2.82?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087371865","isVote":1,"tweetType":1,"viewCount":1123,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574851738178187","authorId":"3574851738178187","name":"CRHT","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"idStr":"3574851738178187","authorIdStr":"3574851738178187"},"content":"Sorry, first time encountering delist. How does it work? Do we trade/sell it back to the company on this app?","text":"Sorry, first time encountering delist. How does it work? Do we trade/sell it back to the company on this app?","html":"Sorry, first time encountering delist. How does it work? Do we trade/sell it back to the company on this app?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160757934,"gmtCreate":1623807409628,"gmtModify":1703820029593,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/160757934","repostId":"1191245053","repostType":4,"repost":{"id":"1191245053","pubTimestamp":1623762167,"share":"https://ttm.financial/m/news/1191245053?lang=&edition=fundamental","pubTime":"2021-06-15 21:02","market":"us","language":"en","title":"Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets","url":"https://stock-news.laohu8.com/highlight/detail?id=1191245053","media":"zerohedge","summary":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers .So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fis","content":"<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").</p>\n<p>So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,<b>there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.</b></p>\n<p><img src=\"https://static.tigerbbs.com/0d1ece116794c7f6523250fd682450e3\" tg-width=\"959\" tg-height=\"765\" referrerpolicy=\"no-referrer\"></p>\n<p>Yet while these totals are massive,<b>when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.</b></p>\n<p><img src=\"https://static.tigerbbs.com/534b677774a92a59d4fe08f09359932b\" tg-width=\"500\" tg-height=\"298\" referrerpolicy=\"no-referrer\"></p>\n<p>It's worth noting that according to Goldman estimates that combos account<b>for 15-20% of SPX options,</b>so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.</p>\n<p><img src=\"https://static.tigerbbs.com/adfcada2b0ef3f2ebbd684649a613043\" tg-width=\"936\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p>\n<p>The Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPX<b>realized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.</b></p>\n<p><img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p>This contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.</p>\n<p><img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p>\n<p>Then, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees that<b>the extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"</b>Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:<u><b>the market will become much more volatile in a selloff.</b></u></p>\n<p><img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p>\n<p>Meanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.</p>\n<p><img src=\"https://static.tigerbbs.com/9c6c3df49e3e5d1e4a7a0d9c24696e6a\" tg-width=\"1212\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<p>One final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.</p>\n<p>As Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,<b>the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,</b>and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"</p>\n<p><img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p>\n<p>Why is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.<b>Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!</b></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets</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\">\nQuad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 21:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets\">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",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191245053","content_text":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").\nSo picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.\n\nYet while these totals are massive,when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.\n\nIt's worth noting that according to Goldman estimates that combos accountfor 15-20% of SPX options,so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.\n\nThe Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPXrealized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.\n\nThis contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.\n\nThen, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees thatthe extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:the market will become much more volatile in a selloff.\n\nMeanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.\n\nOne final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.\nAs Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"\n\nWhy is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!","news_type":1},"isVote":1,"tweetType":1,"viewCount":75,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168430480,"gmtCreate":1623980361740,"gmtModify":1703825357778,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"Reply&nbsp;","listText":"Reply&nbsp;","text":"Reply","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/168430480","repostId":"2144286417","repostType":4,"repost":{"id":"2144286417","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":1623970062,"share":"https://ttm.financial/m/news/2144286417?lang=&edition=fundamental","pubTime":"2021-06-18 06:47","market":"us","language":"en","title":"Nasdaq closes up on tech stocks strength, as hawkish Fed limits S&P","url":"https://stock-news.laohu8.com/highlight/detail?id=2144286417","media":"Reuters","summary":"June 17  - Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&P nursing a very minor loss.The marginal decline was the S&P's third negative finish in a row, while the Dow - with a more pronounced drop - posted its fourth straight lower close.Many investors were still processing the Federal Reserve's unexpectedly hawkish message on monetary policy from the previous d","content":"<p>June 17 (Reuters) - Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&amp;P nursing a very minor loss.</p>\n<p>The marginal decline was the S&amp;P's third negative finish in a row, while the Dow - with a more pronounced drop - posted its fourth straight lower close.</p>\n<p>Many investors were still processing the Federal Reserve's unexpectedly hawkish message on monetary policy from the previous day, which projected the first post-pandemic interest rate hikes in 2023.</p>\n<p>Fed officials cited an improved economic outlook as the U.S. economy recovers quickly from the pandemic, with overall growth expected to hit 7% this year. While careful not to derail the recovery - with no end in sight for supportive policy measures such as bond-buying - the rate-rise signal highlighted concerns about inflation.</p>\n<p>\"I think there was a scenario that people had in mind, that the Fed was going to allow for a larger and longer inflation overshoot, and I think with the increase in the dot plot yesterday... people are rethinking that scenario,\" said David Lefkowitz, head of equities for the Americas at UBS Global Wealth Management.</p>\n<p>Technology shares, which generally perform better when interest rates are low, powered a rally on Wall Street last year as investors flocked to stocks seen as relatively safe during times of economic turmoil.</p>\n<p>Investors returned to such positions on Thursday. Chipmaker Nvidia Corp jumped 4.8%, posting its fourth consecutive record close, after Jefferies raised its price target on the stock.</p>\n<p>Meanwhile, shares of Apple Inc, Microsoft Corp, Amazon.com Inc and Facebook Inc shook off premarket declines to advance between 1.3% and 2.2% as investors bet that a steady economic rebound would boost demand for their products in the long run.</p>\n<p>The Nasdaq ended 13 points short of its record finish on Monday, but it was still the index's second-highest close ever.</p>\n<p>The Dow Jones Industrial Average fell 210.22 points, or 0.62%, to 33,823.45, the S&amp;P 500 lost 1.84 points, or 0.04%, to 4,221.86 and the Nasdaq Composite added 121.67 points, or 0.87%, to 14,161.35.</p>\n<p>Interest rate-sensitive bank stocks slumped 4.3% as longer-dated U.S. Treasury yields dropped.</p>\n<p>The strengthening dollar, another by-product of the previous day's Fed news, pushed U.S. oil prices down from the multi-year high hit earlier in the week. The energy index, in turn, was off 3.5%, the biggest laggard among the 11 main S&amp;P sectors.</p>\n<p>Other economically sensitive stocks, including materials&nbsp;and industrials, fell 2.2% and 1.6% respectively as data showed jobless claims rising last week for the first time in more than a month. Still, layoffs appeared to be easing amid a reopening economy and a shortage of people willing to work.</p>\n<p>Volume on U.S. exchanges was 11.77 billion shares, compared with the 10.67 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 23 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 82 new highs and 37 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq closes up on tech stocks strength, as hawkish Fed limits S&P</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\">\nNasdaq closes up on tech stocks strength, as hawkish Fed limits S&P\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-18 06:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 17 (Reuters) - Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&amp;P nursing a very minor loss.</p>\n<p>The marginal decline was the S&amp;P's third negative finish in a row, while the Dow - with a more pronounced drop - posted its fourth straight lower close.</p>\n<p>Many investors were still processing the Federal Reserve's unexpectedly hawkish message on monetary policy from the previous day, which projected the first post-pandemic interest rate hikes in 2023.</p>\n<p>Fed officials cited an improved economic outlook as the U.S. economy recovers quickly from the pandemic, with overall growth expected to hit 7% this year. While careful not to derail the recovery - with no end in sight for supportive policy measures such as bond-buying - the rate-rise signal highlighted concerns about inflation.</p>\n<p>\"I think there was a scenario that people had in mind, that the Fed was going to allow for a larger and longer inflation overshoot, and I think with the increase in the dot plot yesterday... people are rethinking that scenario,\" said David Lefkowitz, head of equities for the Americas at UBS Global Wealth Management.</p>\n<p>Technology shares, which generally perform better when interest rates are low, powered a rally on Wall Street last year as investors flocked to stocks seen as relatively safe during times of economic turmoil.</p>\n<p>Investors returned to such positions on Thursday. Chipmaker Nvidia Corp jumped 4.8%, posting its fourth consecutive record close, after Jefferies raised its price target on the stock.</p>\n<p>Meanwhile, shares of Apple Inc, Microsoft Corp, Amazon.com Inc and Facebook Inc shook off premarket declines to advance between 1.3% and 2.2% as investors bet that a steady economic rebound would boost demand for their products in the long run.</p>\n<p>The Nasdaq ended 13 points short of its record finish on Monday, but it was still the index's second-highest close ever.</p>\n<p>The Dow Jones Industrial Average fell 210.22 points, or 0.62%, to 33,823.45, the S&amp;P 500 lost 1.84 points, or 0.04%, to 4,221.86 and the Nasdaq Composite added 121.67 points, or 0.87%, to 14,161.35.</p>\n<p>Interest rate-sensitive bank stocks slumped 4.3% as longer-dated U.S. Treasury yields dropped.</p>\n<p>The strengthening dollar, another by-product of the previous day's Fed news, pushed U.S. oil prices down from the multi-year high hit earlier in the week. The energy index, in turn, was off 3.5%, the biggest laggard among the 11 main S&amp;P sectors.</p>\n<p>Other economically sensitive stocks, including materials&nbsp;and industrials, fell 2.2% and 1.6% respectively as data showed jobless claims rising last week for the first time in more than a month. Still, layoffs appeared to be easing amid a reopening economy and a shortage of people willing to work.</p>\n<p>Volume on U.S. exchanges was 11.77 billion shares, compared with the 10.67 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 23 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 82 new highs and 37 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QID":"纳指两倍做空ETF","DDM":"道指两倍做多ETF","AAPL":"苹果","DJX":"1/100道琼斯","NVDA":"英伟达","SQQQ":"纳指三倍做空ETF","DOG":"道指反向ETF","MSFT":"微软","QLD":"纳指两倍做多ETF","AMZN":"亚马逊","09086":"华夏纳指-U","TQQQ":"纳指三倍做多ETF","SDOW":"道指三倍做空ETF-ProShares","PSQ":"纳指反向ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","UDOW":"道指三倍做多ETF-ProShares","QQQ":"纳指100ETF",".SPX":"S&P 500 Index","NAB.AU":"NATIONAL AUSTRALIA BANK LTD","03086":"华夏纳指","DXD":"道指两倍做空ETF","QNETCN":"纳斯达克中美互联网老虎指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144286417","content_text":"June 17 (Reuters) - Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&P nursing a very minor loss.\nThe marginal decline was the S&P's third negative finish in a row, while the Dow - with a more pronounced drop - posted its fourth straight lower close.\nMany investors were still processing the Federal Reserve's unexpectedly hawkish message on monetary policy from the previous day, which projected the first post-pandemic interest rate hikes in 2023.\nFed officials cited an improved economic outlook as the U.S. economy recovers quickly from the pandemic, with overall growth expected to hit 7% this year. While careful not to derail the recovery - with no end in sight for supportive policy measures such as bond-buying - the rate-rise signal highlighted concerns about inflation.\n\"I think there was a scenario that people had in mind, that the Fed was going to allow for a larger and longer inflation overshoot, and I think with the increase in the dot plot yesterday... people are rethinking that scenario,\" said David Lefkowitz, head of equities for the Americas at UBS Global Wealth Management.\nTechnology shares, which generally perform better when interest rates are low, powered a rally on Wall Street last year as investors flocked to stocks seen as relatively safe during times of economic turmoil.\nInvestors returned to such positions on Thursday. Chipmaker Nvidia Corp jumped 4.8%, posting its fourth consecutive record close, after Jefferies raised its price target on the stock.\nMeanwhile, shares of Apple Inc, Microsoft Corp, Amazon.com Inc and Facebook Inc shook off premarket declines to advance between 1.3% and 2.2% as investors bet that a steady economic rebound would boost demand for their products in the long run.\nThe Nasdaq ended 13 points short of its record finish on Monday, but it was still the index's second-highest close ever.\nThe Dow Jones Industrial Average fell 210.22 points, or 0.62%, to 33,823.45, the S&P 500 lost 1.84 points, or 0.04%, to 4,221.86 and the Nasdaq Composite added 121.67 points, or 0.87%, to 14,161.35.\nInterest rate-sensitive bank stocks slumped 4.3% as longer-dated U.S. Treasury yields dropped.\nThe strengthening dollar, another by-product of the previous day's Fed news, pushed U.S. oil prices down from the multi-year high hit earlier in the week. The energy index, in turn, was off 3.5%, the biggest laggard among the 11 main S&P sectors.\nOther economically sensitive stocks, including materials and industrials, fell 2.2% and 1.6% respectively as data showed jobless claims rising last week for the first time in more than a month. Still, layoffs appeared to be easing amid a reopening economy and a shortage of people willing to work.\nVolume on U.S. exchanges was 11.77 billion shares, compared with the 10.67 billion average over the last 20 trading days.\nThe S&P 500 posted 23 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 82 new highs and 37 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":98,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3581648304340133","authorId":"3581648304340133","name":"arthurxyz","avatar":"https://static.tigerbbs.com/4a1a6522c49876d44c7f07bb6f805ab5","crmLevel":1,"crmLevelSwitch":0,"idStr":"3581648304340133","authorIdStr":"3581648304340133"},"content":"do same please....","text":"do same please....","html":"do same please...."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895127735,"gmtCreate":1628729946527,"gmtModify":1676529833548,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/09988\">$Alibaba(09988)$</a>like and comment pls","listText":"<a href=\"https://laohu8.com/S/09988\">$Alibaba(09988)$</a>like and comment pls","text":"$Alibaba(09988)$like and comment pls","images":[{"img":"https://static.tigerbbs.com/70bcc3b74d357412d9a9b9cf5d664493","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/895127735","isVote":1,"tweetType":1,"viewCount":311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9030513140,"gmtCreate":1645752972417,"gmtModify":1676534060992,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/OU8.SI\">$CENTURION CORPORATION LIMITED(OU8.SI)$</a>disappointing dividend declared","listText":"<a href=\"https://ttm.financial/S/OU8.SI\">$CENTURION CORPORATION LIMITED(OU8.SI)$</a>disappointing dividend declared","text":"$CENTURION CORPORATION LIMITED(OU8.SI)$disappointing dividend declared","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030513140","isVote":1,"tweetType":1,"viewCount":970,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3572317282894329","authorId":"3572317282894329","name":"qianx","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"idStr":"3572317282894329","authorIdStr":"3572317282894329"},"content":"hi, may i know where to see the declared div?","text":"hi, may i know where to see the declared div?","html":"hi, may i know where to see the declared div?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889858157,"gmtCreate":1631142372979,"gmtModify":1676530476315,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/01337\">$Razer(01337)$</a>like and comment","listText":"<a href=\"https://laohu8.com/S/01337\">$Razer(01337)$</a>like and comment","text":"$Razer(01337)$like and comment","images":[{"img":"https://static.tigerbbs.com/57c1ab644ec9d35cf52dcd8954e5fa6b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/889858157","isVote":1,"tweetType":1,"viewCount":171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":123150053,"gmtCreate":1624413059672,"gmtModify":1703835898735,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/01337\">$Razer(01337)$</a>comment pls","listText":"<a href=\"https://laohu8.com/S/01337\">$Razer(01337)$</a>comment pls","text":"$Razer(01337)$comment pls","images":[{"img":"https://static.tigerbbs.com/2673b51744b43d5b9e4dfaa204601d88","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/123150053","isVote":1,"tweetType":1,"viewCount":378,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3582238043606021","authorId":"3582238043606021","name":"mikey189","avatar":"https://static.tigerbbs.com/e453d5ab3795b9fb7781360b5a95490d","crmLevel":2,"crmLevelSwitch":0,"idStr":"3582238043606021","authorIdStr":"3582238043606021"},"content":"after the selling of shares by the mgt. i guess mkt is not going to move in. i hv this stock since ipo days at hkd4. losses for years. hold on","text":"after the selling of shares by the mgt. i guess mkt is not going to move in. i hv this stock since ipo days at hkd4. losses for years. hold on","html":"after the selling of shares by the mgt. i guess mkt is not going to move in. i hv this stock since ipo days at hkd4. losses for years. hold on"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":133252983,"gmtCreate":1621757656142,"gmtModify":1704362149023,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/133252983","repostId":"2137906121","repostType":4,"repost":{"id":"2137906121","pubTimestamp":1621611396,"share":"https://ttm.financial/m/news/2137906121?lang=&edition=fundamental","pubTime":"2021-05-21 23:36","market":"us","language":"en","title":"Here Are the 3 Bank Moves Warren Buffett Has Made So Far in 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2137906121","media":"Motley Fool","summary":"Berkshire Hathaway has continued to reduce its stakes in banks.","content":"<p><b>Berkshire Hathaway</b> (NYSE:BRK.A) (NYSE:BRK.B) recently filed its 13F form for the first quarter of 2021, detailing what stock sales and purchases the conglomerate and the legendary investor in charge, Warren Buffett, made during the period. As has been the case for most of the past year, Buffett was active in the financial sector, mostly reducing Berkshire Hathaway's positions in banks. At the company's annual investor day earlier this month, Buffett provided some explanation for all the stock selling he's done in that sector.</p>\n<p>\"I like banks generally,\" he said, \"I just didn't like the proportion we had compared to the possible risk if we got the bad results that so far we haven't gotten.\"</p>\n<p>Let's review the three big changes Buffett and Berkshire Hathaway made to their bank holdings in the first quarter.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c2da7d6438277757a73f9e626ebc6fc2\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>1. All but eliminating Wells Fargo</h2>\n<p>Everyone knew it was coming, but Buffett all but made it official last quarter, nearly eliminating his position in his onetime favorite bank, <b>Wells Fargo</b> (NYSE:WFC). Berkshire Hathaway sold 51.7 million shares, dropping its stake to a mere 675,000 shares valued at $26.3 million.</p>\n<p>This essentially ends what was an epic run for the Oracle of Omaha and Wells Fargo. Buffett first purchased shares in the large U.S. bank in 1989, and by 1994, he had acquired more than 13% of its outstanding shares. At the end of the third quarter of 2019, before the pandemic, Buffett's stake, which had a rough original cost basis of just below $9 billion, was worth close to $20 billion. And at <a href=\"https://laohu8.com/S/AONE\">one</a> point back in 2017, it was reportedly worth as much as $29 billion.</p>\n<p>But as the fallout of Wells Fargo's phony accounts scandal and other revelations about its consumer abuses continued to play out, Buffett began to lose faith in the institution and started trimming his position. It looks like Buffett ultimately ended up making much less on his Wells Fargo investment than he could have, considering he sold more than 323 million shares between the end of Q1 2020 and the end of Q1 2021. During that 12-month period, the bank's shares traded from a low of $21.45 to a high of $39.07. At the end of 2019, they traded north of $53.</p>\n<p>The stock closed at $45.73 on Thursday, and many investors still believe Wells Fargo is undervalued these days, trading at 135% tangible book value (equity minus intangible assets and goodwill). Bank valuations have shot up in recent months, and Wells Fargo in particular could see more tailwinds when the Federal Reserve lifts the $1.95 trillion asset cap that the bank has been operating under since 2018.</p>\n<h2>2. Dumping <a href=\"https://laohu8.com/S/SYF\">Synchrony Financial</a></h2>\n<p>Last quarter, Berkshire Hathaway also eliminated its entire stake in the consumer finance credit card company <b>Synchrony Financial&nbsp;</b>(NYSE:SYF), selling its 21.1 million shares. Synchrony uses what it calls a \"partner-centric\" business model under which it teams up with leading retailers and digital brands that promote Synchrony's credit cards. Consumers can get deals on specific purchases by opening Synchrony credit cards, which are often branded under a retailer's name.</p>\n<p>While I wouldn't say I saw this move coming, it doesn't entirely surprise me. Over the last year, Buffett has become even more selective about which banks he wants to own. He seems to be picking a winner or two in each banking industry subcategory -- for instance, he sold his stake in America's largest bank, <b>JPMorgan Chase</b>, and loaded up on America's second-largest bank, <b>Bank of America</b>.</p>\n<p>Considering that Buffett already has a huge position in <b>American <a href=\"https://laohu8.com/S/EXPR\">Express</a></b>, and loves the brand, that is likely going to be his pick for a credit-card-focused holding. Berkshire Hathaway likely made a good profit on that Synchrony investment, though, considering that the stock hit its highest level ever during Q1.</p>\n<h2>3. Trimming U.S. Bancorp again</h2>\n<p>Berkshire Hathaway also sold about 1.45 million shares of <b>U.S. Bancorp</b> (NYSE:USB) in the first quarter -- but it still owns nearly 129.7 million shares. The Oracle of Omaha has sold small quantities of shares of the Minnesota-based regional bank a few times over the last year, and it's a bit unclear why. It does appear that he has made U.S. Bancorp his regional bank pick, though. He sold off his other regional bank holdings, including his stakes in <b>PNC Financial Services Group</b>&nbsp;and&nbsp;<b>M&amp;T Bank</b>, in the fourth quarter of 2020.&nbsp;</p>\n<p>One possible explanation relates to Buffett's well-known desire to keep his stakes in those banks below 10%, so he can avoid the additional reporting requirements that a higher ownership level would trigger. At the end of the first quarter, Buffett owned about 8.7% of U.S. Bancorp's outstanding shares. So his stock sale may have simply been a move to prepare for the bank's planned share repurchases, which should accelerate later this year. Last quarter's adjustment should maintain Berkshire Hathaway's stake at a level comfortably under the 10% threshold, even after U.S. Bancorp's total share count is reduced. </p>\n<p>Overall, I still feel confident that Buffett plans to stick with U.S. Bancorp, although I will continue to watch his moves in upcoming quarters to see if he further reduces his stake in it.</p>","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>Here Are the 3 Bank Moves Warren Buffett Has Made So Far in 2021</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\">\nHere Are the 3 Bank Moves Warren Buffett Has Made So Far in 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 23:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/21/here-are-the-3-bank-moves-warren-buffett-has-made/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) recently filed its 13F form for the first quarter of 2021, detailing what stock sales and purchases the conglomerate and the legendary investor in charge, ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/21/here-are-the-3-bank-moves-warren-buffett-has-made/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","USB":"美国合众银行","SYF":"Synchrony Financial","BRK.A":"伯克希尔","WFC":"富国银行"},"source_url":"https://www.fool.com/investing/2021/05/21/here-are-the-3-bank-moves-warren-buffett-has-made/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137906121","content_text":"Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) recently filed its 13F form for the first quarter of 2021, detailing what stock sales and purchases the conglomerate and the legendary investor in charge, Warren Buffett, made during the period. As has been the case for most of the past year, Buffett was active in the financial sector, mostly reducing Berkshire Hathaway's positions in banks. At the company's annual investor day earlier this month, Buffett provided some explanation for all the stock selling he's done in that sector.\n\"I like banks generally,\" he said, \"I just didn't like the proportion we had compared to the possible risk if we got the bad results that so far we haven't gotten.\"\nLet's review the three big changes Buffett and Berkshire Hathaway made to their bank holdings in the first quarter.\nImage source: Getty Images.\n1. All but eliminating Wells Fargo\nEveryone knew it was coming, but Buffett all but made it official last quarter, nearly eliminating his position in his onetime favorite bank, Wells Fargo (NYSE:WFC). Berkshire Hathaway sold 51.7 million shares, dropping its stake to a mere 675,000 shares valued at $26.3 million.\nThis essentially ends what was an epic run for the Oracle of Omaha and Wells Fargo. Buffett first purchased shares in the large U.S. bank in 1989, and by 1994, he had acquired more than 13% of its outstanding shares. At the end of the third quarter of 2019, before the pandemic, Buffett's stake, which had a rough original cost basis of just below $9 billion, was worth close to $20 billion. And at one point back in 2017, it was reportedly worth as much as $29 billion.\nBut as the fallout of Wells Fargo's phony accounts scandal and other revelations about its consumer abuses continued to play out, Buffett began to lose faith in the institution and started trimming his position. It looks like Buffett ultimately ended up making much less on his Wells Fargo investment than he could have, considering he sold more than 323 million shares between the end of Q1 2020 and the end of Q1 2021. During that 12-month period, the bank's shares traded from a low of $21.45 to a high of $39.07. At the end of 2019, they traded north of $53.\nThe stock closed at $45.73 on Thursday, and many investors still believe Wells Fargo is undervalued these days, trading at 135% tangible book value (equity minus intangible assets and goodwill). Bank valuations have shot up in recent months, and Wells Fargo in particular could see more tailwinds when the Federal Reserve lifts the $1.95 trillion asset cap that the bank has been operating under since 2018.\n2. Dumping Synchrony Financial\nLast quarter, Berkshire Hathaway also eliminated its entire stake in the consumer finance credit card company Synchrony Financial (NYSE:SYF), selling its 21.1 million shares. Synchrony uses what it calls a \"partner-centric\" business model under which it teams up with leading retailers and digital brands that promote Synchrony's credit cards. Consumers can get deals on specific purchases by opening Synchrony credit cards, which are often branded under a retailer's name.\nWhile I wouldn't say I saw this move coming, it doesn't entirely surprise me. Over the last year, Buffett has become even more selective about which banks he wants to own. He seems to be picking a winner or two in each banking industry subcategory -- for instance, he sold his stake in America's largest bank, JPMorgan Chase, and loaded up on America's second-largest bank, Bank of America.\nConsidering that Buffett already has a huge position in American Express, and loves the brand, that is likely going to be his pick for a credit-card-focused holding. Berkshire Hathaway likely made a good profit on that Synchrony investment, though, considering that the stock hit its highest level ever during Q1.\n3. Trimming U.S. Bancorp again\nBerkshire Hathaway also sold about 1.45 million shares of U.S. Bancorp (NYSE:USB) in the first quarter -- but it still owns nearly 129.7 million shares. The Oracle of Omaha has sold small quantities of shares of the Minnesota-based regional bank a few times over the last year, and it's a bit unclear why. It does appear that he has made U.S. Bancorp his regional bank pick, though. He sold off his other regional bank holdings, including his stakes in PNC Financial Services Group and M&T Bank, in the fourth quarter of 2020. \nOne possible explanation relates to Buffett's well-known desire to keep his stakes in those banks below 10%, so he can avoid the additional reporting requirements that a higher ownership level would trigger. At the end of the first quarter, Buffett owned about 8.7% of U.S. Bancorp's outstanding shares. So his stock sale may have simply been a move to prepare for the bank's planned share repurchases, which should accelerate later this year. Last quarter's adjustment should maintain Berkshire Hathaway's stake at a level comfortably under the 10% threshold, even after U.S. Bancorp's total share count is reduced. \nOverall, I still feel confident that Buffett plans to stick with U.S. Bancorp, although I will continue to watch his moves in upcoming quarters to see if he further reduces his stake in it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884066152,"gmtCreate":1631840496676,"gmtModify":1676530649098,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/09988\">$Alibaba(09988)$</a>like and comment","listText":"<a href=\"https://laohu8.com/S/09988\">$Alibaba(09988)$</a>like and comment","text":"$Alibaba(09988)$like and comment","images":[{"img":"https://static.tigerbbs.com/e668b67df7ff52f53754018b3bdd6916","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/884066152","isVote":1,"tweetType":1,"viewCount":317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":126439101,"gmtCreate":1624581092403,"gmtModify":1703840782793,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"Leave comment","listText":"Leave comment","text":"Leave comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/126439101","repostId":"2146023477","repostType":4,"repost":{"id":"2146023477","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":1624575912,"share":"https://ttm.financial/m/news/2146023477?lang=&edition=fundamental","pubTime":"2021-06-25 07:05","market":"us","language":"en","title":"Nasdaq and S&P 500 end at record highs; Dow rallies","url":"https://stock-news.laohu8.com/highlight/detail?id=2146023477","media":"Reuters","summary":"June 24 (Reuters) - The Nasdaq and the S&P 500 indexes closed at record highs on Thursday, with the ","content":"<p>June 24 (Reuters) - The Nasdaq and the S&amp;P 500 indexes closed at record highs on Thursday, with the Dow also jumping almost 1% after U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal.</p>\n<p>With massive fiscal stimulus helped the U.S. economy grow at a 6.4% annualized rate in the first quarter, investors have been banking on an infrastructure agreement that could steer the next leg of the recovery for the world's largest economy and fuel more stock gains.</p>\n<p>Construction and mining equipment maker Caterpillar and aerospace firm Boeing both jumped more than 2%, helping lift the Dow Jones Industrial Average.</p>\n<p>\"In the short term, I think there will be some 'buy the rumor and sell the news' in materials and industrials, but as we start to see more details come out about how the money will be spent, I think we will get a continued benefit,\" said Sal Bruno, chief investment officer at IndexIQ in New York.</p>\n<p>Fueling the S&amp;P 500's gains more than any other stock, Tesla Inc rose 3.5% after Chief Executive Officer Elon Musk said he would list SpaceX's space internet venture, Starlink, when its cash flow is reasonably predictable, adding that Tesla shareholders could get preference in investing.</p>\n<p>Mega-caps <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc each gained more than 1%, and were also among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>Microsoft added 0.5% and ended with a market capitalization above $2 trillion for its first time.</p>\n<p>Initial claims for state unemployment benefits fell 7,000 to 411,000 for the week ended June 19, the Labor Department said on Thursday, but were still higher than the 380,000 that economists had forecast.</p>\n<p>The Commerce Department said the economy grew at a 6.4% rate last quarter, unrevised from the estimate published in May.</p>\n<p>So far this month, the S&amp;P 500 growth index has climbed almost 4%, outperforming the value index's 2% drop.</p>\n<p>The Dow Jones Industrial Average rose 0.95% to end at 34,196.82 points, while the S&amp;P 500 gained 0.58% to 4,266.49.</p>\n<p>The Nasdaq Composite climbed 0.69% to 14,369.71.</p>\n<p>Volume on U.S. exchanges was 9.2 billion shares, less than the 11.0 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 technology, healthcare and communication services sector indexes hit record highs.</p>\n<p>So far in 2021, the S&amp;P 500 has gained almost 14%, beating the Nasdaq's 11% rise.</p>\n<p>Eli Lilly and Co jumped 7.3% to a record high after the drugmaker said it would apply for the U.S. Food and Drug Administration's accelerated approval for its experimental Alzheimer's drug this year.</p>\n<p>In response, Biogen Inc , which received a controversial approval for its Alzheimer's drug aducanumab earlier this month, tumbled 6.1%.</p>\n<p>MGM Resorts International rose 2.2% after Deutsche Bank upgraded the casino operator's stock to \"buy\" from \"hold.\"</p>\n<p>Accenture Plc gained 2.1% after the IT consulting firm raised its full-year revenue forecast.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 2.29-to-1 ratio; on Nasdaq, a 2.44-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 105 new highs and 27 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq and S&P 500 end at record highs; Dow rallies</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\">\nNasdaq and S&P 500 end at record highs; Dow rallies\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-25 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 24 (Reuters) - The Nasdaq and the S&amp;P 500 indexes closed at record highs on Thursday, with the Dow also jumping almost 1% after U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal.</p>\n<p>With massive fiscal stimulus helped the U.S. economy grow at a 6.4% annualized rate in the first quarter, investors have been banking on an infrastructure agreement that could steer the next leg of the recovery for the world's largest economy and fuel more stock gains.</p>\n<p>Construction and mining equipment maker Caterpillar and aerospace firm Boeing both jumped more than 2%, helping lift the Dow Jones Industrial Average.</p>\n<p>\"In the short term, I think there will be some 'buy the rumor and sell the news' in materials and industrials, but as we start to see more details come out about how the money will be spent, I think we will get a continued benefit,\" said Sal Bruno, chief investment officer at IndexIQ in New York.</p>\n<p>Fueling the S&amp;P 500's gains more than any other stock, Tesla Inc rose 3.5% after Chief Executive Officer Elon Musk said he would list SpaceX's space internet venture, Starlink, when its cash flow is reasonably predictable, adding that Tesla shareholders could get preference in investing.</p>\n<p>Mega-caps <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc each gained more than 1%, and were also among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>Microsoft added 0.5% and ended with a market capitalization above $2 trillion for its first time.</p>\n<p>Initial claims for state unemployment benefits fell 7,000 to 411,000 for the week ended June 19, the Labor Department said on Thursday, but were still higher than the 380,000 that economists had forecast.</p>\n<p>The Commerce Department said the economy grew at a 6.4% rate last quarter, unrevised from the estimate published in May.</p>\n<p>So far this month, the S&amp;P 500 growth index has climbed almost 4%, outperforming the value index's 2% drop.</p>\n<p>The Dow Jones Industrial Average rose 0.95% to end at 34,196.82 points, while the S&amp;P 500 gained 0.58% to 4,266.49.</p>\n<p>The Nasdaq Composite climbed 0.69% to 14,369.71.</p>\n<p>Volume on U.S. exchanges was 9.2 billion shares, less than the 11.0 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 technology, healthcare and communication services sector indexes hit record highs.</p>\n<p>So far in 2021, the S&amp;P 500 has gained almost 14%, beating the Nasdaq's 11% rise.</p>\n<p>Eli Lilly and Co jumped 7.3% to a record high after the drugmaker said it would apply for the U.S. Food and Drug Administration's accelerated approval for its experimental Alzheimer's drug this year.</p>\n<p>In response, Biogen Inc , which received a controversial approval for its Alzheimer's drug aducanumab earlier this month, tumbled 6.1%.</p>\n<p>MGM Resorts International rose 2.2% after Deutsche Bank upgraded the casino operator's stock to \"buy\" from \"hold.\"</p>\n<p>Accenture Plc gained 2.1% after the IT consulting firm raised its full-year revenue forecast.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 2.29-to-1 ratio; on Nasdaq, a 2.44-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 105 new highs and 27 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","OEF":"标普100指数ETF-iShares","UPRO":"三倍做多标普500ETF",".SPX":"S&P 500 Index","SSO":"两倍做多标普500ETF","SH":"标普500反向ETF","OEX":"标普100","SPY":"标普500ETF","IVV":"标普500指数ETF","SPXU":"三倍做空标普500ETF","SDS":"两倍做空标普500ETF","MSFT":"微软"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146023477","content_text":"June 24 (Reuters) - The Nasdaq and the S&P 500 indexes closed at record highs on Thursday, with the Dow also jumping almost 1% after U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal.\nWith massive fiscal stimulus helped the U.S. economy grow at a 6.4% annualized rate in the first quarter, investors have been banking on an infrastructure agreement that could steer the next leg of the recovery for the world's largest economy and fuel more stock gains.\nConstruction and mining equipment maker Caterpillar and aerospace firm Boeing both jumped more than 2%, helping lift the Dow Jones Industrial Average.\n\"In the short term, I think there will be some 'buy the rumor and sell the news' in materials and industrials, but as we start to see more details come out about how the money will be spent, I think we will get a continued benefit,\" said Sal Bruno, chief investment officer at IndexIQ in New York.\nFueling the S&P 500's gains more than any other stock, Tesla Inc rose 3.5% after Chief Executive Officer Elon Musk said he would list SpaceX's space internet venture, Starlink, when its cash flow is reasonably predictable, adding that Tesla shareholders could get preference in investing.\nMega-caps PayPal and Facebook Inc each gained more than 1%, and were also among the biggest boosts to the S&P 500 and the Nasdaq.\nMicrosoft added 0.5% and ended with a market capitalization above $2 trillion for its first time.\nInitial claims for state unemployment benefits fell 7,000 to 411,000 for the week ended June 19, the Labor Department said on Thursday, but were still higher than the 380,000 that economists had forecast.\nThe Commerce Department said the economy grew at a 6.4% rate last quarter, unrevised from the estimate published in May.\nSo far this month, the S&P 500 growth index has climbed almost 4%, outperforming the value index's 2% drop.\nThe Dow Jones Industrial Average rose 0.95% to end at 34,196.82 points, while the S&P 500 gained 0.58% to 4,266.49.\nThe Nasdaq Composite climbed 0.69% to 14,369.71.\nVolume on U.S. exchanges was 9.2 billion shares, less than the 11.0 billion average over the last 20 trading days.\nThe S&P 500 technology, healthcare and communication services sector indexes hit record highs.\nSo far in 2021, the S&P 500 has gained almost 14%, beating the Nasdaq's 11% rise.\nEli Lilly and Co jumped 7.3% to a record high after the drugmaker said it would apply for the U.S. Food and Drug Administration's accelerated approval for its experimental Alzheimer's drug this year.\nIn response, Biogen Inc , which received a controversial approval for its Alzheimer's drug aducanumab earlier this month, tumbled 6.1%.\nMGM Resorts International rose 2.2% after Deutsche Bank upgraded the casino operator's stock to \"buy\" from \"hold.\"\nAccenture Plc gained 2.1% after the IT consulting firm raised its full-year revenue forecast.\nAdvancing issues outnumbered declining ones on the NYSE by a 2.29-to-1 ratio; on Nasdaq, a 2.44-to-1 ratio favored advancers.\nThe S&P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 105 new highs and 27 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":25,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133252129,"gmtCreate":1621757725561,"gmtModify":1704362149505,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/133252129","repostId":"1198772655","repostType":4,"repost":{"id":"1198772655","pubTimestamp":1621609241,"share":"https://ttm.financial/m/news/1198772655?lang=&edition=fundamental","pubTime":"2021-05-21 23:00","market":"us","language":"en","title":"Roku Continues to Stream Profits for Loyal Investors","url":"https://stock-news.laohu8.com/highlight/detail?id=1198772655","media":"InvestorPlace","summary":"When the facts change as with SQ stock, you should revise your thesis\nThose who stuck with Roku (NAS","content":"<p>When the facts change as with SQ stock, you should revise your thesis</p>\n<p>Those who stuck with&nbsp;<b>Roku</b>&nbsp;(NASDAQ:<b><u>ROKU</u></b>) stock two years ago received a big payout. I was a skeptic for a long time but that didn’t stop me from trading it bullishly. I could not see how it fit in the migration from traditional to streaming models.</p>\n<p>Regardless as to how, management proved me wrong. The fundamental metrics now are undeniable bullish.</p>\n<p>In the last four years, they quadrupled revenues. They now have more than $100 million of positive net income after years of losses. That point is important because the company is not young and ran red too long.</p>\n<p>But finally the media delivery environment swung their way. Last year, the swarm demand for streaming from the pandemic made for a perfect storm.</p>\n<p>From here, hopefully they can build on the momentum and follow the digitization trend deep. This is a big world so the potential is borderless to a degree. I still don’t quite get why I would need a Roku, so I am not their target audience. In our household we “cut the cord” a while back. But we use our phones and tablets to consume our media without Roku.</p>\n<p><b>ROKU Stock Is in Better Shape Now</b></p>\n<p>Recognizing the improvements is important because the long-term thesis changed for me. This is a streaming stock with no weak asterisks anymore.</p>\n<p>Being profitable does not mean that ROKU stock is now cheap. Experts could point to price-to-earnings ratio to call it expensive. They’d be wrong because for an aggressively growing company P/E is a bad metric. Companies cannot deliver impressive growth on a budget.</p>\n<p>The better gauge to use is the price-to-sales, and at 22 it is reasonable. This is in line with&nbsp;<b>Tesla</b>&nbsp;(NASDAQ:<b><u>TSLA</u></b>) and cheaper than&nbsp;<b>Zoom</b>&nbsp;(NASDAQ:<b><u>ZM</u></b>) to use two other growers. ROKU P/S is triple&nbsp;<b>Netflix</b>&nbsp;(NASDAQ:<b><u>NFLX</u></b>) and quadruple that of&nbsp;<b>Disney</b>&nbsp;(NYSE:<b><u>DIS</u></b>). Nevertheless it is not a flagrant reason to sell it. The amount of hope that its investors have in it now is high. But it is not in the clouds so high to drive a crash.</p>\n<p>ROKU stock rallied 740% from the pandemic crash. Then it corrected 44% and now is somewhere in the middle. The altitude is a bit alarming still 90% above last summer’s breakout. This concern is more serious since the markets are also near all-time highs.</p>\n<p>Last week Federal Reserve “taper” fears resurfaced and could be a drag on the all equities. Regardless of how good this story is, it will need the markets to remain strong.</p>\n<p><b>There Is Risk Below</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bbf9b67c067cf68328fee1f460de2f1e\" tg-width=\"1543\" tg-height=\"826\"><span>Source: Charts by TradingView</span></p>\n<p>If the overall malaise continues, ROKU could fall 30% from here and not change a thing. First, there would be a strong effort to hold the $280 zone. If that fails it would then trigger the rest of the dip. There is a way to profit from this potential now using options. This is also a way to get bullish the stock but leave room for error.</p>\n<p>An investor can sell the January 2022 ROKU $220 put to be bullish the stock. This trade would not even need a rally to win. In fact, the stock can fall almost 40% and they can still break even. If the stock falls below $220 then they could own the shares there.</p>\n<p>Big moves in stocks usually come from dislocations between reality and expectations. I don’t think there is such a scenario here. It’s a momentum stock but not teetering on disaster. I would not go as far as calling it a bargain but value became less of a threat.</p>\n<p>Earlier I admitted that I was ignorant on one front but did not commit the mistake of shorting it. Back then I knew that my bearish bias was a mere opinion with low conviction. In fact&nbsp;I wrote about upside opportunities&nbsp;when I saw some coming.</p>","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>Roku Continues to Stream Profits for Loyal Investors</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRoku Continues to Stream Profits for Loyal Investors\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 23:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/05/roku-stock-continues-to-stream-profits-for-loyal-investors/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When the facts change as with SQ stock, you should revise your thesis\nThose who stuck with Roku (NASDAQ:ROKU) stock two years ago received a big payout. I was a skeptic for a long time but that didn’t...</p>\n\n<a href=\"https://investorplace.com/2021/05/roku-stock-continues-to-stream-profits-for-loyal-investors/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc"},"source_url":"https://investorplace.com/2021/05/roku-stock-continues-to-stream-profits-for-loyal-investors/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198772655","content_text":"When the facts change as with SQ stock, you should revise your thesis\nThose who stuck with Roku (NASDAQ:ROKU) stock two years ago received a big payout. I was a skeptic for a long time but that didn’t stop me from trading it bullishly. I could not see how it fit in the migration from traditional to streaming models.\nRegardless as to how, management proved me wrong. The fundamental metrics now are undeniable bullish.\nIn the last four years, they quadrupled revenues. They now have more than $100 million of positive net income after years of losses. That point is important because the company is not young and ran red too long.\nBut finally the media delivery environment swung their way. Last year, the swarm demand for streaming from the pandemic made for a perfect storm.\nFrom here, hopefully they can build on the momentum and follow the digitization trend deep. This is a big world so the potential is borderless to a degree. I still don’t quite get why I would need a Roku, so I am not their target audience. In our household we “cut the cord” a while back. But we use our phones and tablets to consume our media without Roku.\nROKU Stock Is in Better Shape Now\nRecognizing the improvements is important because the long-term thesis changed for me. This is a streaming stock with no weak asterisks anymore.\nBeing profitable does not mean that ROKU stock is now cheap. Experts could point to price-to-earnings ratio to call it expensive. They’d be wrong because for an aggressively growing company P/E is a bad metric. Companies cannot deliver impressive growth on a budget.\nThe better gauge to use is the price-to-sales, and at 22 it is reasonable. This is in line with Tesla (NASDAQ:TSLA) and cheaper than Zoom (NASDAQ:ZM) to use two other growers. ROKU P/S is triple Netflix (NASDAQ:NFLX) and quadruple that of Disney (NYSE:DIS). Nevertheless it is not a flagrant reason to sell it. The amount of hope that its investors have in it now is high. But it is not in the clouds so high to drive a crash.\nROKU stock rallied 740% from the pandemic crash. Then it corrected 44% and now is somewhere in the middle. The altitude is a bit alarming still 90% above last summer’s breakout. This concern is more serious since the markets are also near all-time highs.\nLast week Federal Reserve “taper” fears resurfaced and could be a drag on the all equities. Regardless of how good this story is, it will need the markets to remain strong.\nThere Is Risk Below\nSource: Charts by TradingView\nIf the overall malaise continues, ROKU could fall 30% from here and not change a thing. First, there would be a strong effort to hold the $280 zone. If that fails it would then trigger the rest of the dip. There is a way to profit from this potential now using options. This is also a way to get bullish the stock but leave room for error.\nAn investor can sell the January 2022 ROKU $220 put to be bullish the stock. This trade would not even need a rally to win. In fact, the stock can fall almost 40% and they can still break even. If the stock falls below $220 then they could own the shares there.\nBig moves in stocks usually come from dislocations between reality and expectations. I don’t think there is such a scenario here. It’s a momentum stock but not teetering on disaster. I would not go as far as calling it a bargain but value became less of a threat.\nEarlier I admitted that I was ignorant on one front but did not commit the mistake of shorting it. Back then I knew that my bearish bias was a mere opinion with low conviction. In fact I wrote about upside opportunities when I saw some coming.","news_type":1},"isVote":1,"tweetType":1,"viewCount":189,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889858077,"gmtCreate":1631142357399,"gmtModify":1676530476299,"author":{"id":"3558267776429365","authorId":"3558267776429365","name":"lingling07","avatar":"https://static.tigerbbs.com/a369ade3411ab47e0d3b0f18ce029e2a","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3558267776429365","authorIdStr":"3558267776429365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/H78.SI\">$HONGKONG LAND HOLDINGS LIMITED(H78.SI)$</a>undervalued with good dividend","listText":"<a href=\"https://laohu8.com/S/H78.SI\">$HONGKONG LAND HOLDINGS LIMITED(H78.SI)$</a>undervalued with good dividend","text":"$HONGKONG LAND HOLDINGS LIMITED(H78.SI)$undervalued with good 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