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2022-01-29

$DiDi Global Inc.(DIDI)$ddrop until no value

2021-04-26

$Senseonics(SENS)$recovering

2021-06-17

$Clean Energy Fuels(CLNE)$hhold or sell

2022-03-11

$DiDi Global Inc.(DIDI)$ddie drop like waterfall

2022-02-02

good

@SlowIncome:(20/09)Today's pre-market GAINERS:$Zivo Bioscience, Inc.(ZIVO)$$Stellar Biotechnologies(EDSA)$$Verastem(VSTM)$$LAVA Therapeutics N.V.(LVTX)$$Synlogic, Inc.(SYBX)$Please like and follow for daily updates

2021-04-30

$Histogenics(OCGN)$India stock keep as blue chip

2022-05-28

ok

@CyrilDavy:3 best travel stocks to buy as the industry rebounds

2021-07-02

$Koss(KOSS)$ppls like

2021-04-30

Like

Sorry, the original content has been removed

2021-08-30

$SEMBCORP MARINE LTD(S51.SI)$up

2021-05-14

Diomond hand

Ocugen Has a Longer Road To Paying off Than People Think

2021-06-26

$Missfresh Limited(MF)$Tencent-back

2021-03-08

Nice

What's the Outlook for Intuitive Surgical?

2021-03-03

Wait u so long

Ocugen stock soars after partner Bharat Biotech COVID-19 vaccine candidate shows 81% efficacy

2021-06-28

power

@风口浪尖弄潮儿:$Histogenics Corporation(OCGN)$立貼爲證！

2021-03-16

Crash

Larry McDonald Warns "The Big [Market] Quake Is Coming"

2021-08-02

$Infinity Pharmaceuticals(INFI)$uup.up

2021-06-23

$Torchlight Energy Resources(TRCH)$heart attract pump.and dump

2021-05-30

$Alkaline Water Company Inc. (The)(WTER)$Hold blue chip

2021-05-01

$Histogenics(OCGN)$blue chip Stock

Go to Tiger App to see more news

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delisting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947728187","isVote":1,"tweetType":1,"viewCount":379,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9025664167,"gmtCreate":1653688983159,"gmtModify":1676535325498,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9025664167","repostId":"9089221197","repostType":1,"repost":{"id":9089221197,"gmtCreate":1649995737382,"gmtModify":1676534625922,"author":{"id":"9000000000000641","authorId":"9000000000000641","name":"CyrilDavy","avatar":"https://static.tigerbbs.com/fd67ba4a6ca5ca66b27af6afcce989dc","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"9000000000000641","authorIdStr":"9000000000000641"},"themes":[],"title":"3 best travel stocks to buy as the industry rebounds","htmlText":"Delta Airlines CEO said that the industry was making a comeback. Travel stocks are expected to benefit during this rebound. Airbnb, TripAdvisor, and Booking offer the best returns. The global travel industry is rebounding as countries reopen their borders and ease restrictions. In a statement on Wednesday, Delta’s CEO said that the company has never seen such demand. This explains why travel companies have done well recently. The ETFMG Travel Tech ETF (AWAY) has risen by 20% from its YTD low. Here are some of the best travel stocks to invest in. Airbnb Airbnb<a href=\"https://laohu8.com/S/ABNB\">$Airbnb, Inc.(ABNB)$</a>&nbsp;is a leading company that provides on-demand vacation rentals services. With a market cap of over $109 billion, the firm is more valuable than Hilton, Marriott, and Wynd","listText":"Delta Airlines CEO said that the industry was making a comeback. Travel stocks are expected to benefit during this rebound. Airbnb, TripAdvisor, and Booking offer the best returns. The global travel industry is rebounding as countries reopen their borders and ease restrictions. In a statement on Wednesday, Delta’s CEO said that the company has never seen such demand. This explains why travel companies have done well recently. The ETFMG Travel Tech ETF (AWAY) has risen by 20% from its YTD low. Here are some of the best travel stocks to invest in. Airbnb Airbnb<a href=\"https://laohu8.com/S/ABNB\">$Airbnb, Inc.(ABNB)$</a>&nbsp;is a leading company that provides on-demand vacation rentals services. With a market cap of over $109 billion, the firm is more valuable than Hilton, Marriott, and Wynd","text":"Delta Airlines CEO said that the industry was making a comeback. Travel stocks are expected to benefit during this rebound. Airbnb, TripAdvisor, and Booking offer the best returns. The global travel industry is rebounding as countries reopen their borders and ease restrictions. In a statement on Wednesday, Delta’s CEO said that the company has never seen such demand. This explains why travel companies have done well recently. The ETFMG Travel Tech ETF (AWAY) has risen by 20% from its YTD low. Here are some of the best travel stocks to invest in. Airbnb Airbnb$Airbnb, Inc.(ABNB)$ is a leading company that provides on-demand vacation rentals services. With a market cap of over $109 billion, the firm is more valuable than Hilton, Marriott, and Wynd","images":[{"img":"https://community-static.tradeup.com/news/5afee681cc917aefacca9aca04d6b1c6","width":"-1","height":"-1"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9089221197","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":449,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9036359884,"gmtCreate":1646996487894,"gmtModify":1676534185585,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DIDI\">$DiDi Global Inc.(DIDI)$</a>ddie drop like 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waterfall","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036359884","isVote":1,"tweetType":1,"viewCount":875,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9091126120,"gmtCreate":1643810511360,"gmtModify":1676533858535,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9091126120","repostId":"860103463","repostType":1,"repost":{"id":860103463,"gmtCreate":1632142934652,"gmtModify":1676530709270,"author":{"id":"3586061751257522","authorId":"3586061751257522","name":"SlowIncome","avatar":"https://static.tigerbbs.com/8f58da85f59ba0a3ddf93647be45c630","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586061751257522","authorIdStr":"3586061751257522"},"themes":[],"htmlText":"(20/09)Today's pre-market GAINERS:<a href=\"https://laohu8.com/S/ZIVO\">$Zivo Bioscience, Inc.(ZIVO)$</a><a href=\"https://laohu8.com/S/EDSA\">$Stellar Biotechnologies(EDSA)$</a><a href=\"https://laohu8.com/S/VSTM\">$Verastem(VSTM)$</a><a href=\"https://laohu8.com/S/LVTX\">$LAVA Therapeutics N.V.(LVTX)$</a><a href=\"https://laohu8.com/S/SYBX\">$Synlogic, Inc.(SYBX)$</a>Please like and follow for daily updates&nbsp;","listText":"(20/09)Today's pre-market GAINERS:<a href=\"https://laohu8.com/S/ZIVO\">$Zivo Bioscience, Inc.(ZIVO)$</a><a href=\"https://laohu8.com/S/EDSA\">$Stellar Biotechnologies(EDSA)$</a><a href=\"https://laohu8.com/S/VSTM\">$Verastem(VSTM)$</a><a href=\"https://laohu8.com/S/LVTX\">$LAVA Therapeutics N.V.(LVTX)$</a><a href=\"https://laohu8.com/S/SYBX\">$Synlogic, Inc.(SYBX)$</a>Please like and follow for daily updates&nbsp;","text":"(20/09)Today's pre-market GAINERS:$Zivo Bioscience, Inc.(ZIVO)$$Stellar Biotechnologies(EDSA)$$Verastem(VSTM)$$LAVA Therapeutics N.V.(LVTX)$$Synlogic, Inc.(SYBX)$Please like and follow for daily updates","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/860103463","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9099575983,"gmtCreate":1643400522440,"gmtModify":1676533816026,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DIDI\">$DiDi Global Inc.(DIDI)$</a>ddrop until no value","listText":"<a href=\"https://ttm.financial/S/DIDI\">$DiDi Global Inc.(DIDI)$</a>ddrop until no value","text":"$DiDi Global Inc.(DIDI)$ddrop until no value","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":17,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099575983","isVote":1,"tweetType":1,"viewCount":1004,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9099367132,"gmtCreate":1643297690041,"gmtModify":1676533800451,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DIDI\">$DiDi Global Inc.(DIDI)$</a>nno hope waiting die","listText":"<a href=\"https://ttm.financial/S/DIDI\">$DiDi Global Inc.(DIDI)$</a>nno hope waiting die","text":"$DiDi Global Inc.(DIDI)$nno hope waiting 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target=\"_blank\" href=\"https://laohu8.com/S/CEMI\">$Chembio Diagnostics(CEMI)$</a> diagnostic kits doubled in price and are in shortage, further exacerbated by biden policies and insurers are tied up gobbling supplies!$10 in time!","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/CEMI\">$Chembio Diagnostics(CEMI)$</a> diagnostic kits doubled in price and are in shortage, further exacerbated by biden policies and insurers are tied up gobbling supplies!$10 in time!","text":"$Chembio Diagnostics(CEMI)$ diagnostic kits doubled in price and are in shortage, further exacerbated by biden policies and insurers are tied up gobbling supplies!$10 in time!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/697531999","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882850615,"gmtCreate":1631676855037,"gmtModify":1676530606552,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882850615","repostId":"385947109","repostType":1,"repost":{"id":385947109,"gmtCreate":1613497874801,"gmtModify":1704881340465,"author":{"id":"3549945745640020","authorId":"3549945745640020","name":"妞大福","avatar":"https://static.tigerbbs.com/fe05f7d36b73c35cc98c0e813c101494","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3549945745640020","authorIdStr":"3549945745640020"},"themes":[],"htmlText":"<a 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waterfall","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036359884","isVote":1,"tweetType":1,"viewCount":875,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9091126120,"gmtCreate":1643810511360,"gmtModify":1676533858535,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9091126120","repostId":"860103463","repostType":1,"repost":{"id":860103463,"gmtCreate":1632142934652,"gmtModify":1676530709270,"author":{"id":"3586061751257522","authorId":"3586061751257522","name":"SlowIncome","avatar":"https://static.tigerbbs.com/8f58da85f59ba0a3ddf93647be45c630","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586061751257522","authorIdStr":"3586061751257522"},"themes":[],"htmlText":"(20/09)Today's pre-market GAINERS:<a href=\"https://laohu8.com/S/ZIVO\">$Zivo Bioscience, Inc.(ZIVO)$</a><a href=\"https://laohu8.com/S/EDSA\">$Stellar Biotechnologies(EDSA)$</a><a href=\"https://laohu8.com/S/VSTM\">$Verastem(VSTM)$</a><a href=\"https://laohu8.com/S/LVTX\">$LAVA Therapeutics N.V.(LVTX)$</a><a href=\"https://laohu8.com/S/SYBX\">$Synlogic, Inc.(SYBX)$</a>Please like and follow for daily updates&nbsp;","listText":"(20/09)Today's pre-market GAINERS:<a href=\"https://laohu8.com/S/ZIVO\">$Zivo Bioscience, Inc.(ZIVO)$</a><a href=\"https://laohu8.com/S/EDSA\">$Stellar Biotechnologies(EDSA)$</a><a href=\"https://laohu8.com/S/VSTM\">$Verastem(VSTM)$</a><a href=\"https://laohu8.com/S/LVTX\">$LAVA Therapeutics N.V.(LVTX)$</a><a href=\"https://laohu8.com/S/SYBX\">$Synlogic, Inc.(SYBX)$</a>Please like and follow for daily updates&nbsp;","text":"(20/09)Today's pre-market GAINERS:$Zivo Bioscience, Inc.(ZIVO)$$Stellar Biotechnologies(EDSA)$$Verastem(VSTM)$$LAVA Therapeutics N.V.(LVTX)$$Synlogic, Inc.(SYBX)$Please like and follow for daily updates","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/860103463","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109739630,"gmtCreate":1619723932420,"gmtModify":1704271346856,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/OCGN\">$Histogenics(OCGN)$</a>India stock keep as blue chip","listText":"<a href=\"https://laohu8.com/S/OCGN\">$Histogenics(OCGN)$</a>India stock keep as blue chip","text":"$Histogenics(OCGN)$India stock keep as blue chip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/109739630","isVote":1,"tweetType":1,"viewCount":791,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9025664167,"gmtCreate":1653688983159,"gmtModify":1676535325498,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9025664167","repostId":"9089221197","repostType":1,"repost":{"id":9089221197,"gmtCreate":1649995737382,"gmtModify":1676534625922,"author":{"id":"9000000000000641","authorId":"9000000000000641","name":"CyrilDavy","avatar":"https://static.tigerbbs.com/fd67ba4a6ca5ca66b27af6afcce989dc","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"9000000000000641","authorIdStr":"9000000000000641"},"themes":[],"title":"3 best travel stocks to buy as the industry rebounds","htmlText":"Delta Airlines CEO said that the industry was making a comeback. Travel stocks are expected to benefit during this rebound. Airbnb, TripAdvisor, and Booking offer the best returns. The global travel industry is rebounding as countries reopen their borders and ease restrictions. In a statement on Wednesday, Delta’s CEO said that the company has never seen such demand. This explains why travel companies have done well recently. The ETFMG Travel Tech ETF (AWAY) has risen by 20% from its YTD low. Here are some of the best travel stocks to invest in. Airbnb Airbnb<a href=\"https://laohu8.com/S/ABNB\">$Airbnb, Inc.(ABNB)$</a>&nbsp;is a leading company that provides on-demand vacation rentals services. With a market cap of over $109 billion, the firm is more valuable than Hilton, Marriott, and Wynd","listText":"Delta Airlines CEO said that the industry was making a comeback. Travel stocks are expected to benefit during this rebound. Airbnb, TripAdvisor, and Booking offer the best returns. The global travel industry is rebounding as countries reopen their borders and ease restrictions. In a statement on Wednesday, Delta’s CEO said that the company has never seen such demand. This explains why travel companies have done well recently. The ETFMG Travel Tech ETF (AWAY) has risen by 20% from its YTD low. Here are some of the best travel stocks to invest in. Airbnb Airbnb<a href=\"https://laohu8.com/S/ABNB\">$Airbnb, Inc.(ABNB)$</a>&nbsp;is a leading company that provides on-demand vacation rentals services. With a market cap of over $109 billion, the firm is more valuable than Hilton, Marriott, and Wynd","text":"Delta Airlines CEO said that the industry was making a comeback. Travel stocks are expected to benefit during this rebound. Airbnb, TripAdvisor, and Booking offer the best returns. The global travel industry is rebounding as countries reopen their borders and ease restrictions. In a statement on Wednesday, Delta’s CEO said that the company has never seen such demand. This explains why travel companies have done well recently. The ETFMG Travel Tech ETF (AWAY) has risen by 20% from its YTD low. Here are some of the best travel stocks to invest in. Airbnb Airbnb$Airbnb, Inc.(ABNB)$ is a leading company that provides on-demand vacation rentals services. With a market cap of over $109 billion, the firm is more valuable than Hilton, Marriott, and Wynd","images":[{"img":"https://community-static.tradeup.com/news/5afee681cc917aefacca9aca04d6b1c6","width":"-1","height":"-1"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9089221197","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":449,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158742148,"gmtCreate":1625184054784,"gmtModify":1703737764859,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/KOSS\">$Koss(KOSS)$</a>ppls like","listText":"<a href=\"https://laohu8.com/S/KOSS\">$Koss(KOSS)$</a>ppls like","text":"$Koss(KOSS)$ppls like","images":[{"img":"https://static.tigerbbs.com/32e03fcd152cbab313a32cc93332a0b1","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/158742148","isVote":1,"tweetType":1,"viewCount":267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":103304024,"gmtCreate":1619746102768,"gmtModify":1704271744059,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/103304024","repostId":"1188611661","repostType":4,"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811339056,"gmtCreate":1630288360175,"gmtModify":1676530257681,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>up","listText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>up","text":"$SEMBCORP MARINE LTD(S51.SI)$up","images":[{"img":"https://static.tigerbbs.com/470522b5d856be31331019dda2424171","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/811339056","isVote":1,"tweetType":1,"viewCount":393,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575290973507485","authorId":"3575290973507485","name":"Rookie22","avatar":"https://static.tigerbbs.com/c6852efd5f87d9ecf7965e213c38ac97","crmLevel":4,"crmLevelSwitch":1,"idStr":"3575290973507485","authorIdStr":"3575290973507485"},"content":"Good luck","text":"Good luck","html":"Good luck"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":198106490,"gmtCreate":1620943322510,"gmtModify":1704350729493,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"Diomond hand&nbsp;","listText":"Diomond hand&nbsp;","text":"Diomond hand","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/198106490","repostId":"1118899332","repostType":4,"repost":{"id":"1118899332","pubTimestamp":1620918983,"share":"https://ttm.financial/m/news/1118899332?lang=&edition=fundamental","pubTime":"2021-05-13 23:16","market":"us","language":"en","title":"Ocugen Has a Longer Road To Paying off Than People Think","url":"https://stock-news.laohu8.com/highlight/detail?id=1118899332","media":"InvestorPlace","summary":"Good news from Ocugen has been met with a wave of selling in OCGN stock.\n\nI’ve long been skeptical t","content":"<blockquote>\n <b>Good news from Ocugen has been met with a wave of selling in OCGN stock.</b>\n</blockquote>\n<p>I’ve long been skeptical toward<b>Ocugen</b>(NASDAQ:<b><u>OCGN</u></b>) stock. To some degree, I still am.</p>\n<p>OCGN is pushed as a vaccine play, thanks to its partnership with India’s<b>Bharat Biotech</b>, but some investors miss the fact that the partnership is skewed sharply in Bharat’s favor.</p>\n<p>Ocguen only has rights to distribution in the U.S. It must do all the heavy lifting (financially and operationally) to get Bharat’s Covaxin to market. In return, the company receives just45% of any profits.</p>\n<p>So the idea that OCGN stock is the next<b>Moderna</b>(NASDAQ:<b><u>MRNA</u></b>) is quite a stretch. The geographical limitations on the Covaxin license, the past failures in the legacy ocular pipeline, and the profit-sharing agreement leave OCGN at a seeming disadvantage to even the likes of<b>Inovio</b>(NASDAQ:<b><u>INO</u></b>) or<b>Sorrento Therapeutics</b>(NASDAQ:<b><u>SRNE</u></b>).</p>\n<p>The push/pull in OCGN stock reflects these two facts. When Bharat released positive data last month, OCGN soared. It’s since dropped 41% in a matter of days.</p>\n<p>After this most recent fade, however, OCGN does look at least intriguing, even to this skeptic.</p>\n<p>There’s still a lot of work to do, certainly. But Ocugen has the cash and the product. If it can execute, there’s potential upside, even given the constraints of the Bharat deal.</p>\n<p><b>Good News Gets Punished?</b></p>\n<p>I can certainly see how the trading in OCGN over the past few months, and few weeks, would be confusing.</p>\n<p>After all, it seems like Ocugen has delivered mostly good news over that stretch. Data from Bharat on Covaxin gets more detailed and seemingly more positive.</p>\n<p>The second interim results released in April showed100% protection against hospitalization. OCGN soared on that news. Early this month, Bharat showedeffectiveness against the key variantsthat have alarmed scientists of late.</p>\n<p>OCGN actually trades below where it did in early February, though, after the stock tripled following an equity offeringpriced above the market. It will open today at around $8.60.</p>\n<p>Now, comparing OCGN to past peaks has an obvious problem: the stock has seen bubbly trading both in February and the second half of April. Some level of correction was needed in both instances.</p>\n<p>That said, there is a case that the most recent selling has gone a little too far (and indeed shares have found a temporary bottom at the moment). With OCGN approaching $9, the math here can work.</p>\n<p><b>The Math for OCGN Stock</b></p>\n<p>On March 31, Ocugen had $45 million in cash, and 188.2 million shares outstanding. A $100 million equity offeringpriced at $10followed in April.</p>\n<p>Ocugen should close Q2 with about $135 million in cash, assuming its burn rate accelerates as it builds out the infrastructure for Covaxin. That’s probably, though not definitely, enough to get the vaccine to market. Substantial dilution thus seems unlikely.</p>\n<p>Ocugen has a fully diluted market capitalization of nearly $1.8 billion. (That figure includes about 10 million options and warrants outstanding at March 31.)</p>\n<p>So there’s a simplistic question to ask about OCGN stock: can the company generate $2 billion in profit off Covaxin?</p>\n<p><b>Looking to Moderna</b></p>\n<p>That’s likely the minimum required to see any upside here. It’s difficult to assign any material value to the company’s owned pipeline, given the company had a market capitalization below $50 million before the Bharat deal was signed.</p>\n<p>After all, $2 billion is a reasonably high bar. Again, Ocugen only gets 45% of the profits, so Covaxin must generate $4.5 billion or so in earnings.</p>\n<p>We can see from Moderna earnings what the profit profile might look like. Treating previously produced inventory at cost, Moderna’sgross margins were 78%in the first quarter.</p>\n<p>Just to get to $4.5 billion in gross profit, then, Covaxin needs to generate nearly $6 billion in revenue.</p>\n<p>At Moderna’s $19 per dose price, we’re looking at about 300 million doses even before operating expenses. Add in those expenses (it’s tough to estimate, but a few hundred million seems in the ballpark) and Covaxin perhaps needs to move something in the range of 350 million doses.</p>\n<p>Can Covaxin hit that bogey? It does seem tough.</p>\n<p>Moderna is guiding for 200 million to 250 million doses just in the second quarter, but much of that supply is going to international markets.</p>\n<p>For OCGN stock to rise from here, Covaxin probably needs to be one of the most commonly used vaccines domestically, while competing not only with Moderna, but<b>Pfizer</b>(NYSE:<b><u>PFE</u></b>),<b>Johnson &amp; Johnson</b>(NYSE:<b><u>JNJ</u></b>) and presumably others.</p>\n<p>That’s the bet when it comes to OCGN. Honestly, it’s not a bet I’m terribly interested in taking. But with OCGN stock pulling back, reasonable investors probably can disagree.</p>\n<p><i>On the date of publication, Vince Martin did not have (either directly or indirectly) any positions in the securities mentioned in this article.</i></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>Ocugen Has a Longer Road To Paying off Than People Think</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\">\nOcugen Has a Longer Road To Paying off Than People Think\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 23:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/05/confusing-trading-leaves-ocgn-stock-interesting/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Good news from Ocugen has been met with a wave of selling in OCGN stock.\n\nI’ve long been skeptical towardOcugen(NASDAQ:OCGN) stock. To some degree, I still am.\nOCGN is pushed as a vaccine play, thanks...</p>\n\n<a href=\"https://investorplace.com/2021/05/confusing-trading-leaves-ocgn-stock-interesting/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OCGN":"Ocugen"},"source_url":"https://investorplace.com/2021/05/confusing-trading-leaves-ocgn-stock-interesting/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118899332","content_text":"Good news from Ocugen has been met with a wave of selling in OCGN stock.\n\nI’ve long been skeptical towardOcugen(NASDAQ:OCGN) stock. To some degree, I still am.\nOCGN is pushed as a vaccine play, thanks to its partnership with India’sBharat Biotech, but some investors miss the fact that the partnership is skewed sharply in Bharat’s favor.\nOcguen only has rights to distribution in the U.S. It must do all the heavy lifting (financially and operationally) to get Bharat’s Covaxin to market. In return, the company receives just45% of any profits.\nSo the idea that OCGN stock is the nextModerna(NASDAQ:MRNA) is quite a stretch. The geographical limitations on the Covaxin license, the past failures in the legacy ocular pipeline, and the profit-sharing agreement leave OCGN at a seeming disadvantage to even the likes ofInovio(NASDAQ:INO) orSorrento Therapeutics(NASDAQ:SRNE).\nThe push/pull in OCGN stock reflects these two facts. When Bharat released positive data last month, OCGN soared. It’s since dropped 41% in a matter of days.\nAfter this most recent fade, however, OCGN does look at least intriguing, even to this skeptic.\nThere’s still a lot of work to do, certainly. But Ocugen has the cash and the product. If it can execute, there’s potential upside, even given the constraints of the Bharat deal.\nGood News Gets Punished?\nI can certainly see how the trading in OCGN over the past few months, and few weeks, would be confusing.\nAfter all, it seems like Ocugen has delivered mostly good news over that stretch. Data from Bharat on Covaxin gets more detailed and seemingly more positive.\nThe second interim results released in April showed100% protection against hospitalization. OCGN soared on that news. Early this month, Bharat showedeffectiveness against the key variantsthat have alarmed scientists of late.\nOCGN actually trades below where it did in early February, though, after the stock tripled following an equity offeringpriced above the market. It will open today at around $8.60.\nNow, comparing OCGN to past peaks has an obvious problem: the stock has seen bubbly trading both in February and the second half of April. Some level of correction was needed in both instances.\nThat said, there is a case that the most recent selling has gone a little too far (and indeed shares have found a temporary bottom at the moment). With OCGN approaching $9, the math here can work.\nThe Math for OCGN Stock\nOn March 31, Ocugen had $45 million in cash, and 188.2 million shares outstanding. A $100 million equity offeringpriced at $10followed in April.\nOcugen should close Q2 with about $135 million in cash, assuming its burn rate accelerates as it builds out the infrastructure for Covaxin. That’s probably, though not definitely, enough to get the vaccine to market. Substantial dilution thus seems unlikely.\nOcugen has a fully diluted market capitalization of nearly $1.8 billion. (That figure includes about 10 million options and warrants outstanding at March 31.)\nSo there’s a simplistic question to ask about OCGN stock: can the company generate $2 billion in profit off Covaxin?\nLooking to Moderna\nThat’s likely the minimum required to see any upside here. It’s difficult to assign any material value to the company’s owned pipeline, given the company had a market capitalization below $50 million before the Bharat deal was signed.\nAfter all, $2 billion is a reasonably high bar. Again, Ocugen only gets 45% of the profits, so Covaxin must generate $4.5 billion or so in earnings.\nWe can see from Moderna earnings what the profit profile might look like. Treating previously produced inventory at cost, Moderna’sgross margins were 78%in the first quarter.\nJust to get to $4.5 billion in gross profit, then, Covaxin needs to generate nearly $6 billion in revenue.\nAt Moderna’s $19 per dose price, we’re looking at about 300 million doses even before operating expenses. Add in those expenses (it’s tough to estimate, but a few hundred million seems in the ballpark) and Covaxin perhaps needs to move something in the range of 350 million doses.\nCan Covaxin hit that bogey? It does seem tough.\nModerna is guiding for 200 million to 250 million doses just in the second quarter, but much of that supply is going to international markets.\nFor OCGN stock to rise from here, Covaxin probably needs to be one of the most commonly used vaccines domestically, while competing not only with Moderna, butPfizer(NYSE:PFE),Johnson & Johnson(NYSE:JNJ) and presumably others.\nThat’s the bet when it comes to OCGN. Honestly, it’s not a bet I’m terribly interested in taking. But with OCGN stock pulling back, reasonable investors probably can disagree.\nOn the date of publication, Vince Martin did not have (either directly or indirectly) any positions in the securities mentioned in this article.","news_type":1},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125955361,"gmtCreate":1624643398853,"gmtModify":1703842714586,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MF\">$Missfresh Limited(MF)$</a>Tencent-back","listText":"<a href=\"https://laohu8.com/S/MF\">$Missfresh Limited(MF)$</a>Tencent-back","text":"$Missfresh Limited(MF)$Tencent-back","images":[{"img":"https://static.tigerbbs.com/c7e0a5f8b663f5ec5e9bfbf1839be163","width":"1080","height":"2400"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/125955361","isVote":1,"tweetType":1,"viewCount":181,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573894403871485","authorId":"3573894403871485","name":"RS69","avatar":"https://community-static.tradeup.com/news/06904efb023e3dbedbee183f7a163224","crmLevel":7,"crmLevelSwitch":1,"idStr":"3573894403871485","authorIdStr":"3573894403871485"},"content":"Break one's hair [cover one's face]","text":"Break one's hair [cover one's face]","html":"Break one's hair [cover one's face]"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":320537169,"gmtCreate":1615143946151,"gmtModify":1704778866986,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/320537169","repostId":"2117639609","repostType":4,"repost":{"id":"2117639609","pubTimestamp":1614957600,"share":"https://ttm.financial/m/news/2117639609?lang=&edition=fundamental","pubTime":"2021-03-05 23:20","market":"us","language":"en","title":"What's the Outlook for Intuitive Surgical?","url":"https://stock-news.laohu8.com/highlight/detail?id=2117639609","media":"Jason Hawthorne","summary":"Competition is heating up, but the company's market leadership remains unchallenged.","content":"<p>After being relegated to science fiction for most of the 20th century, robots have been more visible over the past two decades. Although most real-world applications so far have been industrial, <b>Intuitive</b> <b>Surgical</b> (NASDAQ:ISRG) has been slowly changing that. The company's da Vinci surgical systems only assist trained humans, but they have become synonymous with the term \"robotic surgery.\"</p><p>After so much success, interested investors will want to determine whether the future can be as bright as the past, or if the combination of COVID, regulatory hurdles, and competition will chip away at the dominance this company has established since going public in 2000.</p><p><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F615724%2Fgettyimages-1218322943.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p>The arms of a surgical robot. Image source: Getty Images.</p><p><b>Managing through COVID-19</b></p><p>Early during the pandemic, when hospitals were stopping elective procedures to dedicate resources to patients with COVID-19, the company's sales tumbled. Year-over-year revenue declined 22% in the second quarter of 2020 on 19% fewer procedures.</p><p>Procedures and revenue rebounded slightly in the following quarter, up 7% and down 4.5%, respectively, compared to 2019. The fourth quarter finally saw year-over-year revenue growth of 4%, but management remained cautious.</p><p>Citing a holiday rise in COVID-19 cases, CEO Gary Guthart pointed to a lag in diagnostic cases at hospitals and weak surgery data spilling over from December into January as an indication that the sales of da Vinci systems would take several quarters to normalize. With fewer cases, utilization of existing machines will remain low, delaying the need to add capacity.</p><p>Although this is definitely a concern, it's a temporary <a href=\"https://laohu8.com/S/AONE\">one</a>. By the end of 2021, orders and installations should be back to normal. System growth has averaged 12% a year over the past decade and 28% for the three years prior to the pandemic. Investors are hoping the return to normal comes sooner rather than later.</p><p><b>A changing regulatory landscape</b></p><p>In recent quarters, management has become much more vocal about a shifting regulatory landscape in the U.S. and Europe, and the requirement for more data than ever before prior to approval. Guthart has said the requirements have stabilized at a level higher than in past years. Although it's a short-term nuisance, this change stands to benefit incumbents like Intuitive over time, because existing systems will sit on the market longer while innovations wait for approval.</p><p>One region where the company has drastically different regulatory experiences is Asia. Guthart has repeatedly cited South Korea as being quick to allow innovative products to market, while China's centrally managed system is more cautious. System sales in the region grew 60% from 2018 to 2019 before falling off during 2020 due to the pandemic. Products launched in China must have a longer history of performance because that country's version of the Food and Drug Administration handles first-generation products very cautiously. Regardless, the company remains excited about its joint venture with Chinese company Fosun Pharma and expects strong, if somewhat turbulent, demand over time.</p><p><b>Defending the moat</b></p><p>One of the risks in China is the launch of companies trying to bring competitive surgical systems to market. This has already happened in South Korea. That country's embrace of innovation is a double-edged sword for Intuitive -- South Korea's first approved surgical robot was made by <b>Meere</b> back in 2017.</p><p>Asia isn't the only region where companies are tired of Intuitive reaping the lion's share of the robotic surgery opportunity. Closer to home, the company faces long-awaited challenges from device makers <b>Medtronic</b> (NYSE:MDT) and <b>Johnson</b> <b>&amp;</b> <b>Johnson</b> (NYSE:JNJ).</p><p>Medtronic made its intentions clear by acquiring spine surgery innovator Mazor Robotics in 2018. It is planning a launch of its Hugo surgical system outside the U.S. to collect data, and expects to submit for an investigational device exemption from the FDA in the next month. That designation would allow the device to be used in a clinical study.</p><p>Johnson &amp; Johnson has a not-so-secret weapon in the battle for the robotic surgery market: the founder of Intuitive Surgical. Dr. Fred Moll, who practically invented the industry when he founded Intuitive in 1995, is chief development officer at the company's devices unit. With his guidance, the healthcare giant plans to commercialize three robotic platforms it gained via acquisition.</p><p>First, the Velys platform is for total knee replacements. This is the type of high-volume, repeatable procedure that is ripe for robotic assistance. But it's a threat to <b>Stryker</b> and <b>Smith</b> <b>&amp;</b> <b>Nephew</b>, not Intuitive.</p><p>Second, the Monarch platform is for a procedure that lets doctors inspect the lungs and air passages. It will eventually be used for lung biopsies, but Intuitive is already staking a claim here with its Ion system. In fact, Intuitive received FDA approval for the procedure in the first quarter of 2019.</p><p>And third, Johnson &amp; Johnson's Ottava general surgery system was introduced in November after much anticipation. The device integrates with an operating table and has six arms, several more than systems currently on the market. The goal is flexibility. If Ottava can perform many types of operations, it will help hospitals avoid buying multiple robots, each with a different purpose. The system is unlikely to come to market before 2024.</p><p><b>Clear skies, with a few clouds on the horizon</b></p><p>Despite some regulatory red tape at home and upstart competition abroad, the path for Intuitive Surgical to continue its decades of growth seems clear. The company is well ahead of the competition with nearly 6,000 surgical systems already installed around the globe, and it will be hard for competitors to replace them. That is especially true as innovation in da Vinci systems, instrumentation, and capability continues to increase both machine utilization and company sales.</p><p>As a shareholder, I'll be watching the regulatory progress of the competing systems. But changes in the approval process have only made it harder for the competition to get a foothold. With no imminent threats for at least the next few years, the shares will stay tucked away in a part of my portfolio as far from the sell button as any I own. For those looking to add the stock to their own portfolios, the recent market volatility may have provided the opportunity they've been waiting for.</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>What's the Outlook for Intuitive Surgical?</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\">\nWhat's the Outlook for Intuitive Surgical?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-05 23:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/03/05/whats-the-outlook-for-intuitive-surgical/><strong>Jason Hawthorne</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After being relegated to science fiction for most of the 20th century, robots have been more visible over the past two decades. Although most real-world applications so far have been industrial, ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/05/whats-the-outlook-for-intuitive-surgical/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F615724%2Fgettyimages-1218322943.jpg&amp;w=700&amp;op=resize","relate_stocks":{"ISRG":"直觉外科公司"},"source_url":"https://www.fool.com/investing/2021/03/05/whats-the-outlook-for-intuitive-surgical/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2117639609","content_text":"After being relegated to science fiction for most of the 20th century, robots have been more visible over the past two decades. Although most real-world applications so far have been industrial, Intuitive Surgical (NASDAQ:ISRG) has been slowly changing that. The company's da Vinci surgical systems only assist trained humans, but they have become synonymous with the term \"robotic surgery.\"After so much success, interested investors will want to determine whether the future can be as bright as the past, or if the combination of COVID, regulatory hurdles, and competition will chip away at the dominance this company has established since going public in 2000.The arms of a surgical robot. Image source: Getty Images.Managing through COVID-19Early during the pandemic, when hospitals were stopping elective procedures to dedicate resources to patients with COVID-19, the company's sales tumbled. Year-over-year revenue declined 22% in the second quarter of 2020 on 19% fewer procedures.Procedures and revenue rebounded slightly in the following quarter, up 7% and down 4.5%, respectively, compared to 2019. The fourth quarter finally saw year-over-year revenue growth of 4%, but management remained cautious.Citing a holiday rise in COVID-19 cases, CEO Gary Guthart pointed to a lag in diagnostic cases at hospitals and weak surgery data spilling over from December into January as an indication that the sales of da Vinci systems would take several quarters to normalize. With fewer cases, utilization of existing machines will remain low, delaying the need to add capacity.Although this is definitely a concern, it's a temporary one. By the end of 2021, orders and installations should be back to normal. System growth has averaged 12% a year over the past decade and 28% for the three years prior to the pandemic. Investors are hoping the return to normal comes sooner rather than later.A changing regulatory landscapeIn recent quarters, management has become much more vocal about a shifting regulatory landscape in the U.S. and Europe, and the requirement for more data than ever before prior to approval. Guthart has said the requirements have stabilized at a level higher than in past years. Although it's a short-term nuisance, this change stands to benefit incumbents like Intuitive over time, because existing systems will sit on the market longer while innovations wait for approval.One region where the company has drastically different regulatory experiences is Asia. Guthart has repeatedly cited South Korea as being quick to allow innovative products to market, while China's centrally managed system is more cautious. System sales in the region grew 60% from 2018 to 2019 before falling off during 2020 due to the pandemic. Products launched in China must have a longer history of performance because that country's version of the Food and Drug Administration handles first-generation products very cautiously. Regardless, the company remains excited about its joint venture with Chinese company Fosun Pharma and expects strong, if somewhat turbulent, demand over time.Defending the moatOne of the risks in China is the launch of companies trying to bring competitive surgical systems to market. This has already happened in South Korea. That country's embrace of innovation is a double-edged sword for Intuitive -- South Korea's first approved surgical robot was made by Meere back in 2017.Asia isn't the only region where companies are tired of Intuitive reaping the lion's share of the robotic surgery opportunity. Closer to home, the company faces long-awaited challenges from device makers Medtronic (NYSE:MDT) and Johnson & Johnson (NYSE:JNJ).Medtronic made its intentions clear by acquiring spine surgery innovator Mazor Robotics in 2018. It is planning a launch of its Hugo surgical system outside the U.S. to collect data, and expects to submit for an investigational device exemption from the FDA in the next month. That designation would allow the device to be used in a clinical study.Johnson & Johnson has a not-so-secret weapon in the battle for the robotic surgery market: the founder of Intuitive Surgical. Dr. Fred Moll, who practically invented the industry when he founded Intuitive in 1995, is chief development officer at the company's devices unit. With his guidance, the healthcare giant plans to commercialize three robotic platforms it gained via acquisition.First, the Velys platform is for total knee replacements. This is the type of high-volume, repeatable procedure that is ripe for robotic assistance. But it's a threat to Stryker and Smith & Nephew, not Intuitive.Second, the Monarch platform is for a procedure that lets doctors inspect the lungs and air passages. It will eventually be used for lung biopsies, but Intuitive is already staking a claim here with its Ion system. In fact, Intuitive received FDA approval for the procedure in the first quarter of 2019.And third, Johnson & Johnson's Ottava general surgery system was introduced in November after much anticipation. The device integrates with an operating table and has six arms, several more than systems currently on the market. The goal is flexibility. If Ottava can perform many types of operations, it will help hospitals avoid buying multiple robots, each with a different purpose. The system is unlikely to come to market before 2024.Clear skies, with a few clouds on the horizonDespite some regulatory red tape at home and upstart competition abroad, the path for Intuitive Surgical to continue its decades of growth seems clear. The company is well ahead of the competition with nearly 6,000 surgical systems already installed around the globe, and it will be hard for competitors to replace them. That is especially true as innovation in da Vinci systems, instrumentation, and capability continues to increase both machine utilization and company sales.As a shareholder, I'll be watching the regulatory progress of the competing systems. But changes in the approval process have only made it harder for the competition to get a foothold. With no imminent threats for at least the next few years, the shares will stay tucked away in a part of my portfolio as far from the sell button as any I own. For those looking to add the stock to their own portfolios, the recent market volatility may have provided the opportunity they've been waiting for.","news_type":1},"isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364003602,"gmtCreate":1614783371106,"gmtModify":1704775206681,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"Wait u so long&nbsp;","listText":"Wait u so long&nbsp;","text":"Wait u so long","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/364003602","repostId":"1172714394","repostType":4,"repost":{"id":"1172714394","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614783206,"share":"https://ttm.financial/m/news/1172714394?lang=&edition=fundamental","pubTime":"2021-03-03 22:53","market":"us","language":"en","title":"Ocugen stock soars after partner Bharat Biotech COVID-19 vaccine candidate shows 81% efficacy","url":"https://stock-news.laohu8.com/highlight/detail?id=1172714394","media":"老虎资讯综合","summary":"(March 3) Shares of Histogenics soared 41.0%, after the biopharmaceutical company said its co-develo","content":"<p>(March 3)&nbsp;Shares of <a href=\"https://laohu8.com/S/OCGN\">Histogenics</a> soared 41.0%, after the biopharmaceutical company said its co-development partner Bharat Biotech released an interim analysis of its Phase 3 trial of its COVID-19 vaccine candidate, COVAXIN, which demonstrated efficacy of 81%.</p><p><img src=\"https://static.tigerbbs.com/89ef5f4dcb688419ea9c6f73c920ffb8\" tg-width=\"1068\" tg-height=\"517\" referrerpolicy=\"no-referrer\"></p><p>Bharat's Phase 3 trial in India enrolled 25,800 participants aged 18 to 91, and the first interim analysis is based on 43 cases. A review of the safety database showed severe, serious and medically attended adverse events occurred at low levels and balanced between vaccine and placebo groups.</p><p>\"These results, which in part suggest significant immunogenicity against the rapidly emerging UK variant, represent an additional step towards outlining the regulatory pathway for EUA and approval in the United States,\" said Ocugen Chief Executive Shankar Musunuri.</p><p>\"COVAXIN, a whole virion based vaccine candidate, is designed to fill a significant unmet need in our national arsenal of vaccines against COVID-19.\" Ocugen's stock has skyrocketed 3,071.5% over the past three months, while the iShares Nasdaq Biotechnology ETF has tacked on 6.8% and the S&amp;P 500 has gained 5.6%.</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>Ocugen stock soars after partner Bharat Biotech COVID-19 vaccine candidate shows 81% efficacy</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\">\nOcugen stock soars after partner Bharat Biotech COVID-19 vaccine candidate shows 81% efficacy\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-03-03 22:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(March 3)&nbsp;Shares of <a href=\"https://laohu8.com/S/OCGN\">Histogenics</a> soared 41.0%, after the biopharmaceutical company said its co-development partner Bharat Biotech released an interim analysis of its Phase 3 trial of its COVID-19 vaccine candidate, COVAXIN, which demonstrated efficacy of 81%.</p><p><img src=\"https://static.tigerbbs.com/89ef5f4dcb688419ea9c6f73c920ffb8\" tg-width=\"1068\" tg-height=\"517\" referrerpolicy=\"no-referrer\"></p><p>Bharat's Phase 3 trial in India enrolled 25,800 participants aged 18 to 91, and the first interim analysis is based on 43 cases. A review of the safety database showed severe, serious and medically attended adverse events occurred at low levels and balanced between vaccine and placebo groups.</p><p>\"These results, which in part suggest significant immunogenicity against the rapidly emerging UK variant, represent an additional step towards outlining the regulatory pathway for EUA and approval in the United States,\" said Ocugen Chief Executive Shankar Musunuri.</p><p>\"COVAXIN, a whole virion based vaccine candidate, is designed to fill a significant unmet need in our national arsenal of vaccines against COVID-19.\" Ocugen's stock has skyrocketed 3,071.5% over the past three months, while the iShares Nasdaq Biotechnology ETF has tacked on 6.8% and the S&amp;P 500 has gained 5.6%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OCGN":"Ocugen"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172714394","content_text":"(March 3) Shares of Histogenics soared 41.0%, after the biopharmaceutical company said its co-development partner Bharat Biotech released an interim analysis of its Phase 3 trial of its COVID-19 vaccine candidate, COVAXIN, which demonstrated efficacy of 81%.Bharat's Phase 3 trial in India enrolled 25,800 participants aged 18 to 91, and the first interim analysis is based on 43 cases. A review of the safety database showed severe, serious and medically attended adverse events occurred at low levels and balanced between vaccine and placebo groups.\"These results, which in part suggest significant immunogenicity against the rapidly emerging UK variant, represent an additional step towards outlining the regulatory pathway for EUA and approval in the United States,\" said Ocugen Chief Executive Shankar Musunuri.\"COVAXIN, a whole virion based vaccine candidate, is designed to fill a significant unmet need in our national arsenal of vaccines against COVID-19.\" Ocugen's stock has skyrocketed 3,071.5% over the past three months, while the iShares Nasdaq Biotechnology ETF has tacked on 6.8% and the S&P 500 has gained 5.6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150609185,"gmtCreate":1624894525247,"gmtModify":1703847429262,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"power","listText":"power","text":"power","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/150609185","repostId":"150838197","repostType":1,"repost":{"id":150838197,"gmtCreate":1624892123019,"gmtModify":1703847316570,"author":{"id":"3494499094560649","authorId":"3494499094560649","name":"风口浪尖弄潮儿","avatar":"https://static.tigerbbs.com/219409cc1cfcfb61e965bc7466a446e8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3494499094560649","authorIdStr":"3494499094560649"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/OCGN\">$Histogenics Corporation(OCGN)$</a>立貼爲證！","listText":"<a href=\"https://laohu8.com/S/OCGN\">$Histogenics Corporation(OCGN)$</a>立貼爲證！","text":"$Histogenics Corporation(OCGN)$立貼爲證！","images":[{"img":"https://static.tigerbbs.com/ca76715c46ca89b459feea04aa0715e7","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150838197","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325509026,"gmtCreate":1615904472865,"gmtModify":1704788275365,"author":{"id":"3564546889826365","authorId":"3564546889826365","name":"koonkoon","avatar":"https://static.tigerbbs.com/5dcc75085d1205dc8567a05395bac661","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564546889826365","authorIdStr":"3564546889826365"},"themes":[],"htmlText":"Crash&nbsp;","listText":"Crash&nbsp;","text":"Crash","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/325509026","repostId":"1121564086","repostType":4,"repost":{"id":"1121564086","pubTimestamp":1615899026,"share":"https://ttm.financial/m/news/1121564086?lang=&edition=fundamental","pubTime":"2021-03-16 20:50","market":"us","language":"en","title":"Larry McDonald Warns \"The Big [Market] Quake Is Coming\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1121564086","media":"zerohedge","summary":"The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech ","content":"<p>The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech stocks are under pressure. Accordingly, tensions are high when the Federal Reserve decides on the future course of its monetary policy this Wednesday.</p>\n<p><i><b>«The Fed has its back against the wall,»</b></i>says Larry McDonald during a conversation via Zoom. The internationally renowned macro strategist and former senior trader at Lehman Brothers warns that the Federal Reserve has little time to mitigate the explosive situation in the bond and currency markets. Otherwise, he says, the global economy is at risk of another crisis.</p>\n<p>Since last spring, the founder of the independent investment advisor&nbsp;The Bear Traps Report&nbsp;has been&nbsp;recommending investments&nbsp;in the commodity sector, where he believes a new super cycle has begun. He&nbsp;reiterated his recommendation&nbsp;during his last conversation with The Market in late 2020. Today, his call for a big reflation trade has become the consensus on Wall Street.</p>\n<p>In this new interview with The Market/NZZ, which has been edited and condensed for clarity, Larry McDonald tells why he expects the Federal Reserve to resort to yield curve control fairly soon and what that will mean for gold and silver. He also explains why the rotation into commodities and value stocks is only just beginning and where he currently sees the best opportunities for investments.</p>\n<p><b>After the turmoil of the past few weeks, all eyes are on the Federal Reserve. What can investors expect from Wednesday's Fed meeting?</b></p>\n<blockquote>\n <b>We’re at a point where the market is moving way ahead of the Federal Reserve.</b>The Fed is on «outcome-based guidance», but the beast, that serpent in the market, wants more than that. Basically, the market is saying: «The US economy is going to grow 6 or 7% this year, and that will force you to taper in Q3 or Q4.» As investors are pricing in a tapering of the Fed’s asset purchases, financial conditions are tightening; especially in emerging markets, where spreads on credit default swaps are rising. So far, financial conditions are nowhere near extremely dangerous levels. But the problem is everybody thinks we’re in a similar situation as back in 2018.\n</blockquote>\n<p><b>What do you mean by that?</b></p>\n<blockquote>\n Once again, the Fed is playing «Tough Guy»: The market demands a policy pivot, but the Fed is trying to hold on to its path, essentially signaling to investors: «No way, relax». We had a similar set-up in 2013, 2016 and 2018. These were the three most significant monetary policy shifts where market pressures broke the Fed's desired policy path.\n <b>The problem is that back then the Fed had far more rope to play Tough Guy since the economy was stronger. In 2018 for instance</b>, the US economy was creating hundreds of thousands of jobs a month. In contrast, today’s employment-to-population ratio is 3.5 percentage points below January 2020 levels. This means 13 million Americans are outside the labor force. To get back to pre-pandemic levels, the economy has to create more than 540,000 jobs a month for two years.\n</blockquote>\n<p><b>So what does this mean for this week's Fed meeting?</b></p>\n<blockquote>\n <b>The Fed is planet earth’s central bank. Every time they tried to play Tough Guy, they’ve blown up the global economy.</b>This time, the Fed's Tough Guy window is much smaller. In 2018 or 2013 that window was nine to ten months. Now, it’s like two months because the economy is so weak. If they let financial conditions tighten further, they risk a major default cycle.\n <b>The negative multiplier effect of a stronger dollar is much higher to the world economy than the Fed anticipates</b>. They can't afford to let the dollar rip higher, because there is so much dollar denominated debt in the world, so much trade tied to the Greenback. If they blow that up, it will just blow back to the US and force the Fed into a policy shift anyway. It’s like with an oil change at the car repair shop: You can pay now or you can pay later. That’s why the Fed has to pay now.\n</blockquote>\n<p><b>Why?</b></p>\n<blockquote>\n <b>The Fed’s back is against the wall, all points to proactive action on March 17.</b>They must suppress taper fears and cut these risks off, or else they blow up the global economy for the 4th time since 2013. We’re hearing that they’re already getting incoming calls from emerging market central banks right now. If Fed Chairman Jay Powell plays Tough Guy by staying with the current path, without offering further assurances of deeper, more sustainable accommodation, the beast inside the market will keep pushing him until he breaks. We will see a repeat of Q4 2018 and Q1 2019, where the Fed was forced into an utterly embarrassing pivot. One of those is enough for Powell’s legacy, he doesn’t want two.\n</blockquote>\n<p><b>What kind of measures can be expected?</b></p>\n<blockquote>\n <b>Eventually, we will get the taper, but the overwhelming point is other weapons have to come first.</b>A Federal Reserve offering insufficient accommodation places markets in the crosshairs of a risk-off event. The first thing they will try to do is give some hard data points. For example, the US economy has to create 10 million jobs for the Fed to do anything on the balance sheet. Another way they can get out is calendar guidance, but that’s a more sophisticated weaponry. Bottom line, they should just say: «From now until the end of the year QE will continue at $120 billion a month, and we want PCE-inflation to get to between 2 and 2.5% and stay there for 24 months.» With that in place,\n <b>all they have to do is open the door two or three inches for yield curve control, and they can contain the dollar.</b>\n</blockquote>\n<p><b>The last time the Federal Reserve used yield curve control was during the time of World War II. Why would it resort to such a radical measure?</b></p>\n<blockquote>\n <b>Here’s the dirty little secret: Too many Treasury bonds are for sale.</b>There aren’t enough buyers, and that will force the Fed to step in. More than $3.6 trillion of US government paper was issued in 2020 versus $2.9 trillion in the prior year. With the new $1.9 trillion fiscal package coming from Washington, issuance in 2021 is slated to rise to $4 trillion. That’s a lot more than the Fed’s Treasury purchases through QE, so the spread between QE and debt issuance gets much wider. Washington is doing so much fiscal stimulus, I’m confident that this is going to force the Fed into yield curve control by September. If that’s the case, it will pressure the dollar lower and put commodities, value stocks, global cyclicals, materials and emerging markets into rotation overdrive.\n</blockquote>\n<p><b>How come?</b></p>\n<blockquote>\n <b>Yield curve control deployment is the tactical nuclear weaponry.</b>If the Fed throws out yield curve control just as a threat, it will suppress Treasury rates and real yields will go much more negative. Over the last couple of months, the issuance has overpowered inflation expectations. Think of it as a car race: Treasury issuances were driving up yields faster than inflation expectations rose. But if the Fed starts to acknowledge that they are going to bring out new weapons like calendar guidance and yield curve control, then they’re suppressing nominal yields. So if inflation expectations continue to rise, then real yields go big negative – and that’s when gold and silver will take off. I think silver can double from here until early next year. Gold could be up 50%.\n</blockquote>\n<p><b>How can investors best position themselves in this environment?</b></p>\n<blockquote>\n In terms of emerging markets, we’re\n <b>long Chile and Brazil.</b>In Asia, South Korea looks attractive. We also like the KWEB ETF which consists of the big Chinese tech stocks. In the commodity space, we have a position in the XME ETF which owns mainly\n <b>copper and steel names.</b>One of the best companies we own is Teck Resources. This stock is almost like a commodity mutual fund, because the company has exposure to copper, nickel and even energy. Another favorite is Mosaic because in a commodity cycle where you have weather problems around the world,\n <b>agricultural plays are a good bet.</b>\n</blockquote>\n<p><b>What about precious metals?</b></p>\n<blockquote>\n <b>When it comes to precious metals, we love silver miners</b>like Hecla Mining. When the Fed eases its policy, the silver miners will outperform the underlying metal, and they will outperform gold because there is more leverage there.\n</blockquote>\n<p><b>The gold price is down more than 15% since its all-time high in August. What’s the problem?</b></p>\n<blockquote>\n <b>Everyone thinks it’s 2013, so taper fears are sky high for gold. But the Fed cannot repeat its mistakes.</b>They must cap yields if they want to preserve the global economic recovery. Thus, the convexity with gold is very attractive. Every leg lower in real yields will act like a slingshot higher for gold. That’s why we love Newmont. The stock trades at 6x EBITDA with a 4% dividend yield which gives you some downside protection. And remember: The 2011-2016 commodity bust has made the balance sheet of these high quality gold mining companies a lot stronger.\n</blockquote>\n<p><b>President Joe Biden has just signed off on a $1.9 trillion economic program. What are the chances of a second stimulus bill, aimed at infrastructure?</b></p>\n<blockquote>\n It’s important to note that\n <b>a second fiscal deal for 2021 is not a slam dunk.</b>To pass the present $1.9 trillion stimulus bill, the Democrats used reconciliation. It’s a very special trick in US politics, because with reconciliation you don’t need 60 votes to pass a bill in the Senate. All you need is 50 votes. Yet, reconciliation has to be tied to a budget year. This means the next time the Democrats can use it is probably in the fourth quarter, late November or December, and tie it to the following year's budget. So the only way to do an infrastructure bill in the next six months is with a traditional piece of legislation.\n</blockquote>\n<p><b>Is that even possible, given how wide the rift between Republicans and Democrats has opened in recent years?</b></p>\n<blockquote>\n For that you need essentially ten Republicans. Right now, the centrists on the Hill, people like Mitt Romney on the Republican side or Joe Manchin on the Democrat side, are the most powerful people in Washington. They want to do an infrastructure program, but they want to finance it with tax revenue. They don’t believe in things like Modern Monetary Theory where the Fed is financing the deficit.\n <b>So you are going to need a tax hike. And in this regard, we’re hearing they could go after some type of flat tax on the FAANGs, the big technology companies.</b>\n</blockquote>\n<p><b>What does this mean for Apple, Google, Facebook and other tech heavyweights?</b></p>\n<blockquote>\n Keep in mind, we’re in a populist revolution:\n <b>The risk of inequality leading to social unrest is high, and that puts pressure on politicians to pass bills to tax the rich.</b>But a wealth tax is extremely complicated, it would take years. The simplest way to do something in terms of taxes is to tax larger companies. In the eighties, the top 100 companies in the US maintained about 45 to 50% of total profits. Today, the largest 20 companies command about 85 to 90%. In addition to that, close to 40% of the S&amp;P 500’s market cap is related to tech. So tech is the low hanging fruit for the populists in Congress to go after.\n</blockquote>\n<p><b>One more reason why tech stocks remain under pressure?</b></p>\n<blockquote>\n We run a bunch of models. For example, we look at Berkshire Hathaway’s share price versus the Nasdaq 100 or the Dow Jones Industrial versus the Nasdaq. March 8th was the second time in 2021 that the Nasdaq closed down 2% with the Dow closing higher.\n <b>We haven’t seen this type of data since the dotcom crash. It’s a very rare event which historically coincides with a longer-term rotation out of technology stocks. That’s a very encouraging signal for value stocks.</b>In this regard, we like the EWU ETF. It’s a wonderful basket of stocks because it’s full of financials and world class names like BP, Rio Tinto or Glencore. Officially, it’s called the United Kingdom ETF, but it’s more like a global value ETF.\n</blockquote>\n<p><b>Does this mean that the rotation towards cyclical stocks has only just begun?</b></p>\n<blockquote>\n <b>Many investors around the world are long a portfolio of stocks that was designed for the deflationary environment of the previous decade.</b>The decade ahead of us - with all what’s ahead in terms of fiscal and monetary stimulus, populism, regulation and taxes - will push investors toward more globally value related stocks. That’s where the best returns are going to be.\n</blockquote>\n<p><b>So the previously successful «buy the dip» strategy of simply buying more tech stocks after every decline no longer works?</b></p>\n<blockquote>\n <b>The potency of dip-buying is in decay mode.</b>Global value is really starting to kick tech in the teeth, and when that happens, it wakes up what's called «real money». Keep in mind: There is fast money, mostly hedge funds which are nimble and make quick moves. In contrast, real money moves slowly. Those types of investors don’t make asset allocation decisions quickly. They base their decisions on committees and all kinds of meetings. As a result, tectonic plates are shifting beneath our feet. We’ve seen tremors after tremors where value is starting to crush growth, and now the earthquake is coming. At Bear Traps, we have a Bloomberg chat with 650 institutional investors, and I can tell just by these conversations, that the real money is starting to move.\n <b>And when the real money moves, that’s when the big quake happens.</b>\n</blockquote>\n<p><b>What kind of dislocations will this cause?</b></p>\n<blockquote>\n <b>Tech will probably be down 30 to 40% sometime between now and the end of October.</b>Today, the market cap of the Nasdaq 100 is close to $12 trillion, but most large-cap tech stocks are unchanged since July last year, while commodity and value-related equities are up 20 to 50%. In the US, if you talk to a hundred high-net-worth families, every one of those families owns Apple, Google, Facebook and Amazon. But look what’s happening: Amazon’s stock is flat since the 4th of July 2020. That's $1.5 trillion of dead money. Last Friday, Amazon failed at the 200-day moving average again.\n <b>This is like Mike Tyson getting defeated by Buster Douglas, one of the greatest upsets in sports history. This psychology is moving through the market, pushing the capital migration process into value and commodity plays.</b>\n</blockquote>\n<p><b>However, investments in commodities are mostly not compliant with the trend towards ESG standards; especially when it comes to CO2 emissions.</b></p>\n<blockquote>\n <b>The best ESG trade on the board is nuclear power. The largest uranium company in the US is Cameco with a $7 market cap.</b>Think about that relative to Elon Musk’s net worth! I support the Green New Deal, but this needs time, because solar and wind are still too far away to produce the amount of energy needed around the world, especially in India and China. The only way to meet that demand is through nuclear power. Uranium is coming out of a ten-year bear market, and it’s going into a massive new bull market. All the contracts between power plants and uranium producers are going to be adjusted. That’s why we like the URA ETF which owns companies like Cameco. I see some of these companies as six baggers: 500% upside potential and 30 to 40% downside risk, because uranium is still a risky commodity.\n</blockquote>\n<p><b>In our&nbsp;last conversation, you recommended investments in the energy sector. Since then, names such as Chevron, Royal Dutch Shell or Exxon Mobil have advanced 25 to 60%. What do you advise investors to do now?</b></p>\n<blockquote>\n <b>For now, we’ve cut our energy book:</b>We’ve sold half of our shares in Chevron, and we’ve sold two thirds of our positions in Exxon Mobil and in the XLE ETF. What happens when you get into the fourth, fifth and sixth innings of a commodity cycle, tertiary sectors like metallurgical coal become more attractive. Sure, met coal, also known as coking coal, is not ESG friendly, but there is no way around it for steel production and hence the construction of skyscrapers, bridges and things like that. So coming into this infrastructure boom all around the world, coal has plenty of upside. That’s why we own names like Arch Resources and Peabody Energy. They’re low-leveraged, and really cheap, once again, on a risk/reward basis.\n</blockquote>\n<p><b>What are the biggest dangers to watch out for in the coming weeks and months?</b></p>\n<blockquote>\n <b>One spot to watch are all these forbearance deals in commercial real estate.</b>When we come out of Covid and the vaccines and the stimulus money are juicing through the economy, the market will be forcing the release of the forbearance on a lot of these loans. So if people don’t come back fast enough to the cities, these commercial real estate loans are going to get reset. This would mean some big defaults, and the banks own a lot of these loans. Also, a lot of leveraged loans are really rich. And then, there is potentially a fiscal cliff:\n <b>The sustainability of the $1.9 trillion stimulus package isn’t that great because a lot of it is just transfer payments replacing lost income for people staying at home. That’s why the US needs a second stimulus bill. If we don’t get a second bill, we are going to have a problem in about a year from now.</b>\n</blockquote>","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>Larry McDonald Warns \"The Big [Market] Quake Is Coming\"</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\">\nLarry McDonald Warns \"The Big [Market] Quake Is Coming\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-16 20:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/larry-mcdonald-warns-big-market-quake-coming><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech stocks are under pressure. Accordingly, tensions are high when the Federal Reserve decides on the ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/larry-mcdonald-warns-big-market-quake-coming\">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",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/larry-mcdonald-warns-big-market-quake-coming","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121564086","content_text":"The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech stocks are under pressure. Accordingly, tensions are high when the Federal Reserve decides on the future course of its monetary policy this Wednesday.\n«The Fed has its back against the wall,»says Larry McDonald during a conversation via Zoom. The internationally renowned macro strategist and former senior trader at Lehman Brothers warns that the Federal Reserve has little time to mitigate the explosive situation in the bond and currency markets. Otherwise, he says, the global economy is at risk of another crisis.\nSince last spring, the founder of the independent investment advisor The Bear Traps Report has been recommending investments in the commodity sector, where he believes a new super cycle has begun. He reiterated his recommendation during his last conversation with The Market in late 2020. Today, his call for a big reflation trade has become the consensus on Wall Street.\nIn this new interview with The Market/NZZ, which has been edited and condensed for clarity, Larry McDonald tells why he expects the Federal Reserve to resort to yield curve control fairly soon and what that will mean for gold and silver. He also explains why the rotation into commodities and value stocks is only just beginning and where he currently sees the best opportunities for investments.\nAfter the turmoil of the past few weeks, all eyes are on the Federal Reserve. What can investors expect from Wednesday's Fed meeting?\n\nWe’re at a point where the market is moving way ahead of the Federal Reserve.The Fed is on «outcome-based guidance», but the beast, that serpent in the market, wants more than that. Basically, the market is saying: «The US economy is going to grow 6 or 7% this year, and that will force you to taper in Q3 or Q4.» As investors are pricing in a tapering of the Fed’s asset purchases, financial conditions are tightening; especially in emerging markets, where spreads on credit default swaps are rising. So far, financial conditions are nowhere near extremely dangerous levels. But the problem is everybody thinks we’re in a similar situation as back in 2018.\n\nWhat do you mean by that?\n\n Once again, the Fed is playing «Tough Guy»: The market demands a policy pivot, but the Fed is trying to hold on to its path, essentially signaling to investors: «No way, relax». We had a similar set-up in 2013, 2016 and 2018. These were the three most significant monetary policy shifts where market pressures broke the Fed's desired policy path.\n The problem is that back then the Fed had far more rope to play Tough Guy since the economy was stronger. In 2018 for instance, the US economy was creating hundreds of thousands of jobs a month. In contrast, today’s employment-to-population ratio is 3.5 percentage points below January 2020 levels. This means 13 million Americans are outside the labor force. To get back to pre-pandemic levels, the economy has to create more than 540,000 jobs a month for two years.\n\nSo what does this mean for this week's Fed meeting?\n\nThe Fed is planet earth’s central bank. Every time they tried to play Tough Guy, they’ve blown up the global economy.This time, the Fed's Tough Guy window is much smaller. In 2018 or 2013 that window was nine to ten months. Now, it’s like two months because the economy is so weak. If they let financial conditions tighten further, they risk a major default cycle.\n The negative multiplier effect of a stronger dollar is much higher to the world economy than the Fed anticipates. They can't afford to let the dollar rip higher, because there is so much dollar denominated debt in the world, so much trade tied to the Greenback. If they blow that up, it will just blow back to the US and force the Fed into a policy shift anyway. It’s like with an oil change at the car repair shop: You can pay now or you can pay later. That’s why the Fed has to pay now.\n\nWhy?\n\nThe Fed’s back is against the wall, all points to proactive action on March 17.They must suppress taper fears and cut these risks off, or else they blow up the global economy for the 4th time since 2013. We’re hearing that they’re already getting incoming calls from emerging market central banks right now. If Fed Chairman Jay Powell plays Tough Guy by staying with the current path, without offering further assurances of deeper, more sustainable accommodation, the beast inside the market will keep pushing him until he breaks. We will see a repeat of Q4 2018 and Q1 2019, where the Fed was forced into an utterly embarrassing pivot. One of those is enough for Powell’s legacy, he doesn’t want two.\n\nWhat kind of measures can be expected?\n\nEventually, we will get the taper, but the overwhelming point is other weapons have to come first.A Federal Reserve offering insufficient accommodation places markets in the crosshairs of a risk-off event. The first thing they will try to do is give some hard data points. For example, the US economy has to create 10 million jobs for the Fed to do anything on the balance sheet. Another way they can get out is calendar guidance, but that’s a more sophisticated weaponry. Bottom line, they should just say: «From now until the end of the year QE will continue at $120 billion a month, and we want PCE-inflation to get to between 2 and 2.5% and stay there for 24 months.» With that in place,\n all they have to do is open the door two or three inches for yield curve control, and they can contain the dollar.\n\nThe last time the Federal Reserve used yield curve control was during the time of World War II. Why would it resort to such a radical measure?\n\nHere’s the dirty little secret: Too many Treasury bonds are for sale.There aren’t enough buyers, and that will force the Fed to step in. More than $3.6 trillion of US government paper was issued in 2020 versus $2.9 trillion in the prior year. With the new $1.9 trillion fiscal package coming from Washington, issuance in 2021 is slated to rise to $4 trillion. That’s a lot more than the Fed’s Treasury purchases through QE, so the spread between QE and debt issuance gets much wider. Washington is doing so much fiscal stimulus, I’m confident that this is going to force the Fed into yield curve control by September. If that’s the case, it will pressure the dollar lower and put commodities, value stocks, global cyclicals, materials and emerging markets into rotation overdrive.\n\nHow come?\n\nYield curve control deployment is the tactical nuclear weaponry.If the Fed throws out yield curve control just as a threat, it will suppress Treasury rates and real yields will go much more negative. Over the last couple of months, the issuance has overpowered inflation expectations. Think of it as a car race: Treasury issuances were driving up yields faster than inflation expectations rose. But if the Fed starts to acknowledge that they are going to bring out new weapons like calendar guidance and yield curve control, then they’re suppressing nominal yields. So if inflation expectations continue to rise, then real yields go big negative – and that’s when gold and silver will take off. I think silver can double from here until early next year. Gold could be up 50%.\n\nHow can investors best position themselves in this environment?\n\n In terms of emerging markets, we’re\n long Chile and Brazil.In Asia, South Korea looks attractive. We also like the KWEB ETF which consists of the big Chinese tech stocks. In the commodity space, we have a position in the XME ETF which owns mainly\n copper and steel names.One of the best companies we own is Teck Resources. This stock is almost like a commodity mutual fund, because the company has exposure to copper, nickel and even energy. Another favorite is Mosaic because in a commodity cycle where you have weather problems around the world,\n agricultural plays are a good bet.\n\nWhat about precious metals?\n\nWhen it comes to precious metals, we love silver minerslike Hecla Mining. When the Fed eases its policy, the silver miners will outperform the underlying metal, and they will outperform gold because there is more leverage there.\n\nThe gold price is down more than 15% since its all-time high in August. What’s the problem?\n\nEveryone thinks it’s 2013, so taper fears are sky high for gold. But the Fed cannot repeat its mistakes.They must cap yields if they want to preserve the global economic recovery. Thus, the convexity with gold is very attractive. Every leg lower in real yields will act like a slingshot higher for gold. That’s why we love Newmont. The stock trades at 6x EBITDA with a 4% dividend yield which gives you some downside protection. And remember: The 2011-2016 commodity bust has made the balance sheet of these high quality gold mining companies a lot stronger.\n\nPresident Joe Biden has just signed off on a $1.9 trillion economic program. What are the chances of a second stimulus bill, aimed at infrastructure?\n\n It’s important to note that\n a second fiscal deal for 2021 is not a slam dunk.To pass the present $1.9 trillion stimulus bill, the Democrats used reconciliation. It’s a very special trick in US politics, because with reconciliation you don’t need 60 votes to pass a bill in the Senate. All you need is 50 votes. Yet, reconciliation has to be tied to a budget year. This means the next time the Democrats can use it is probably in the fourth quarter, late November or December, and tie it to the following year's budget. So the only way to do an infrastructure bill in the next six months is with a traditional piece of legislation.\n\nIs that even possible, given how wide the rift between Republicans and Democrats has opened in recent years?\n\n For that you need essentially ten Republicans. Right now, the centrists on the Hill, people like Mitt Romney on the Republican side or Joe Manchin on the Democrat side, are the most powerful people in Washington. They want to do an infrastructure program, but they want to finance it with tax revenue. They don’t believe in things like Modern Monetary Theory where the Fed is financing the deficit.\n So you are going to need a tax hike. And in this regard, we’re hearing they could go after some type of flat tax on the FAANGs, the big technology companies.\n\nWhat does this mean for Apple, Google, Facebook and other tech heavyweights?\n\n Keep in mind, we’re in a populist revolution:\n The risk of inequality leading to social unrest is high, and that puts pressure on politicians to pass bills to tax the rich.But a wealth tax is extremely complicated, it would take years. The simplest way to do something in terms of taxes is to tax larger companies. In the eighties, the top 100 companies in the US maintained about 45 to 50% of total profits. Today, the largest 20 companies command about 85 to 90%. In addition to that, close to 40% of the S&P 500’s market cap is related to tech. So tech is the low hanging fruit for the populists in Congress to go after.\n\nOne more reason why tech stocks remain under pressure?\n\n We run a bunch of models. For example, we look at Berkshire Hathaway’s share price versus the Nasdaq 100 or the Dow Jones Industrial versus the Nasdaq. March 8th was the second time in 2021 that the Nasdaq closed down 2% with the Dow closing higher.\n We haven’t seen this type of data since the dotcom crash. It’s a very rare event which historically coincides with a longer-term rotation out of technology stocks. That’s a very encouraging signal for value stocks.In this regard, we like the EWU ETF. It’s a wonderful basket of stocks because it’s full of financials and world class names like BP, Rio Tinto or Glencore. Officially, it’s called the United Kingdom ETF, but it’s more like a global value ETF.\n\nDoes this mean that the rotation towards cyclical stocks has only just begun?\n\nMany investors around the world are long a portfolio of stocks that was designed for the deflationary environment of the previous decade.The decade ahead of us - with all what’s ahead in terms of fiscal and monetary stimulus, populism, regulation and taxes - will push investors toward more globally value related stocks. That’s where the best returns are going to be.\n\nSo the previously successful «buy the dip» strategy of simply buying more tech stocks after every decline no longer works?\n\nThe potency of dip-buying is in decay mode.Global value is really starting to kick tech in the teeth, and when that happens, it wakes up what's called «real money». Keep in mind: There is fast money, mostly hedge funds which are nimble and make quick moves. In contrast, real money moves slowly. Those types of investors don’t make asset allocation decisions quickly. They base their decisions on committees and all kinds of meetings. As a result, tectonic plates are shifting beneath our feet. We’ve seen tremors after tremors where value is starting to crush growth, and now the earthquake is coming. At Bear Traps, we have a Bloomberg chat with 650 institutional investors, and I can tell just by these conversations, that the real money is starting to move.\n And when the real money moves, that’s when the big quake happens.\n\nWhat kind of dislocations will this cause?\n\nTech will probably be down 30 to 40% sometime between now and the end of October.Today, the market cap of the Nasdaq 100 is close to $12 trillion, but most large-cap tech stocks are unchanged since July last year, while commodity and value-related equities are up 20 to 50%. In the US, if you talk to a hundred high-net-worth families, every one of those families owns Apple, Google, Facebook and Amazon. But look what’s happening: Amazon’s stock is flat since the 4th of July 2020. That's $1.5 trillion of dead money. Last Friday, Amazon failed at the 200-day moving average again.\n This is like Mike Tyson getting defeated by Buster Douglas, one of the greatest upsets in sports history. This psychology is moving through the market, pushing the capital migration process into value and commodity plays.\n\nHowever, investments in commodities are mostly not compliant with the trend towards ESG standards; especially when it comes to CO2 emissions.\n\nThe best ESG trade on the board is nuclear power. The largest uranium company in the US is Cameco with a $7 market cap.Think about that relative to Elon Musk’s net worth! I support the Green New Deal, but this needs time, because solar and wind are still too far away to produce the amount of energy needed around the world, especially in India and China. The only way to meet that demand is through nuclear power. Uranium is coming out of a ten-year bear market, and it’s going into a massive new bull market. All the contracts between power plants and uranium producers are going to be adjusted. That’s why we like the URA ETF which owns companies like Cameco. I see some of these companies as six baggers: 500% upside potential and 30 to 40% downside risk, because uranium is still a risky commodity.\n\nIn our last conversation, you recommended investments in the energy sector. Since then, names such as Chevron, Royal Dutch Shell or Exxon Mobil have advanced 25 to 60%. What do you advise investors to do now?\n\nFor now, we’ve cut our energy book:We’ve sold half of our shares in Chevron, and we’ve sold two thirds of our positions in Exxon Mobil and in the XLE ETF. What happens when you get into the fourth, fifth and sixth innings of a commodity cycle, tertiary sectors like metallurgical coal become more attractive. Sure, met coal, also known as coking coal, is not ESG friendly, but there is no way around it for steel production and hence the construction of skyscrapers, bridges and things like that. So coming into this infrastructure boom all around the world, coal has plenty of upside. That’s why we own names like Arch Resources and Peabody Energy. They’re low-leveraged, and really cheap, once again, on a risk/reward basis.\n\nWhat are the biggest dangers to watch out for in the coming weeks and months?\n\nOne spot to watch are all these forbearance deals in commercial real estate.When we come out of Covid and the vaccines and the stimulus money are juicing through the economy, the market will be forcing the release of the forbearance on a lot of these loans. So if people don’t come back fast enough to the cities, these commercial real estate loans are going to get reset. This would mean some big defaults, and the banks own a lot of these loans. Also, a lot of leveraged loans are really rich. And then, there is potentially a fiscal cliff:\n The sustainability of the $1.9 trillion stimulus package isn’t that great because a lot of it is just transfer payments replacing lost income for people staying at home. That’s why the US needs a second stimulus bill. 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