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2023-06-02

$Futu Holdings Limited(FUTU)$

2021-08-06

Hope the data is good.

Asian markets mixed ahead of U.S. jobs data

2021-08-04

That’s very helpful?

Sorry, the original content has been removed

2021-08-03

Looks like hydrogen EV is another great option if they can overcome the manufacturing cost to produce.

Sorry, the original content has been removed

2021-08-02

Lets monitor

Sorry, the original content has been removed

2021-07-30

Keep going

Wall St gains with upbeat earnings and forecasts

2021-07-30

Keep the same momentum. Go go go.

Wall St gains with upbeat earnings and forecasts

2021-07-29

old news that has already digested by the market but yet can create a great impact to market volatility .

S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes

2021-07-18

Any negative news will cost the market to go south. It is always good to plan for the worst and hope for the best.

Don't Fear A Stock Market Crash

2021-07-15

Fyi@BabyTraderV

19 dividend stocks to help you combat inflation

2021-07-12

In long run still will go to the moon [USD] [USD]

Virgin Galactic And Irrational Exuberance

2021-07-11

Go go go.

The bull market in stocks may last up to five years — here are six reasons why

2021-07-06

[Cool] Is it worth the investment

These shipping stocks could benefit from severe disruptions in global supply chains

2021-07-06

When is a good time to buy didi

Sorry, the original content has been removed

2021-07-03

Indexes up but most of the shares are now. Is this the sign?

Suze Orman worries about a market crash — here's what you should do

2021-07-01

Is this the Over priced donut?

Krispy Kreme: Dough-Not Buy This Overpriced IPO

2021-06-27

Will nio be the better bet?

Ford Or NIO? The Final Verdict

2021-06-26

Up up

Is Apple A Better Buy Than Other FAANG Stocks?

2021-06-25

Is it worth to take up Sembcorp marine right issue?

Keppel jumps, Sembcorp Marine tumbles as trading resumes after news of O&M merger talks

2021-06-24

Does it means good value ?

Keppel, Sembcorp Marine in talks for marine services deal, sources say

Go to Tiger App to see more news

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href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$&nbsp;</a>","text":"$Futu Holdings Limited(FUTU)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183071328583760","isVote":1,"tweetType":1,"viewCount":395,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893969187,"gmtCreate":1628229933449,"gmtModify":1703503595539,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Hope the data is good. &nbsp;","listText":"Hope the data is good. &nbsp;","text":"Hope the data is good.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/893969187","repostId":"1132511170","repostType":4,"repost":{"id":"1132511170","pubTimestamp":1628228609,"share":"https://ttm.financial/m/news/1132511170?lang=&edition=fundamental","pubTime":"2021-08-06 13:43","market":"us","language":"en","title":"Asian markets mixed ahead of U.S. jobs data","url":"https://stock-news.laohu8.com/highlight/detail?id=1132511170","media":"Seeking Alpha","summary":"Japan +0.27%. Leading indicator 104.1 vs 104.2 expected.\nChina -0.48%.\nHong Kong +0.01%.\nAustralia +","content":"<ul>\n <li>Japan&nbsp;+0.27%.&nbsp;Leading indicator&nbsp;104.1 vs 104.2 expected.</li>\n <li>China&nbsp;-0.48%.</li>\n <li>Hong Kong&nbsp;+0.01%.</li>\n <li>Australia&nbsp;+0.10%.</li>\n <li>A couple of releases in the European market today. Germany Industrial data, UK house prices data, France trade balance.</li>\n <li>U.S. futures a tad lower ahead of crucial non-farm payroll data. JPMorgan expects&nbsp;nonfarm payroll growth of 900K and unemployment rate dropping to 5.6%.</li>\n <li>U.S. futures: Dow&nbsp;-0.10%, S&amp;P&nbsp;-0.05%, Nasdaq&nbsp;-0.01%.</li>\n</ul>","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>Asian markets mixed ahead of U.S. jobs data</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\">\nAsian markets mixed ahead of U.S. jobs data\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-06 13:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3726804-asian-markets-mixed-ahead-of-us-jobs-data><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Japan +0.27%. Leading indicator 104.1 vs 104.2 expected.\nChina -0.48%.\nHong Kong +0.01%.\nAustralia +0.10%.\nA couple of releases in the European market today. Germany Industrial data, UK house prices ...</p>\n\n<a href=\"https://seekingalpha.com/news/3726804-asian-markets-mixed-ahead-of-us-jobs-data\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/news/3726804-asian-markets-mixed-ahead-of-us-jobs-data","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132511170","content_text":"Japan +0.27%. Leading indicator 104.1 vs 104.2 expected.\nChina -0.48%.\nHong Kong +0.01%.\nAustralia +0.10%.\nA couple of releases in the European market today. Germany Industrial data, UK house prices data, France trade balance.\nU.S. futures a tad lower ahead of crucial non-farm payroll data. JPMorgan expects nonfarm payroll growth of 900K and unemployment rate dropping to 5.6%.\nU.S. futures: Dow -0.10%, S&P -0.05%, Nasdaq -0.01%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":513,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807558883,"gmtCreate":1628045187242,"gmtModify":1703500190379,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"That’s very helpful?","listText":"That’s very helpful?","text":"That’s very helpful?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807558883","repostId":"1175010735","repostType":4,"isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804531926,"gmtCreate":1627963100065,"gmtModify":1703498708336,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Looks like hydrogen EV is another great&nbsp;option if they can overcome the manufacturing cost to produce.&nbsp;","listText":"Looks like hydrogen EV is another great&nbsp;option if they can overcome the manufacturing cost to produce.&nbsp;","text":"Looks like hydrogen EV is another great option if they can overcome the manufacturing cost to produce.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/804531926","repostId":"1128689143","repostType":4,"isVote":1,"tweetType":1,"viewCount":315,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805642135,"gmtCreate":1627879335127,"gmtModify":1703497069031,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Lets monitor","listText":"Lets monitor","text":"Lets monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/805642135","repostId":"2156741169","repostType":4,"isVote":1,"tweetType":1,"viewCount":456,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808727590,"gmtCreate":1627611897810,"gmtModify":1703493350441,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Keep going","listText":"Keep going","text":"Keep going","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808727590","repostId":"2155184148","repostType":4,"repost":{"id":"2155184148","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627600545,"share":"https://ttm.financial/m/news/2155184148?lang=&edition=fundamental","pubTime":"2021-07-30 07:15","market":"us","language":"en","title":"Wall St gains with upbeat earnings and forecasts","url":"https://stock-news.laohu8.com/highlight/detail?id=2155184148","media":"Reuters","summary":"NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings ","content":"<p>NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.</p>\n<p>The U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.</p>\n<p>Among the latest upbeat earnings news, shares of Ford Motor Co jumped 3.8% as the company lifted its profit forecast for the year, while KFC owner Yum Brands Inc rose 6.3% after it beat expectations for quarterly sales.</p>\n<p>The day's lower than expected economic data may have calmed a bit of investor angst that the Federal Reserve's \"easy money policy\" may be going away soon, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Investors also saw \"some pretty good earnings today,\" he said.</p>\n<p>Stocks got a boost on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus.</p>\n<p>Economically sensitive groups including financials , materials and energy led S&amp;P sector gains on Thursday.</p>\n<p>The Dow Jones Industrial Average rose 153.6 points, or 0.44%, to 35,084.53, the S&amp;P 500 gained 18.51 points, or 0.42%, to 4,419.15 and the Nasdaq Composite added 15.68 points, or 0.11%, to 14,778.26.</p>\n<p>The Dow and S&amp;P 500 hit intraday record highs early in the session.</p>\n<p>The S&amp;P 500 real estate sector hit a record intraday high as well, but ended down 0.2%.</p>\n<p>On the down side, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc shares fell 4% as the company warned revenue growth would \"decelerate significantly\" following Apple Inc's recent update to its iOS operating system that would impact the social media giant's ability to target ads.</p>\n<p>Results were in from about half of the S&amp;P 500 companies as of Thursday morning. Nearly 91% of the reports have beaten profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.</p>\n<p>After the bell, shares of Amazon.com Inc were down more than 5% after the company reported results and forecast third-quarter sales below Wall Street expectations.</p>\n<p>During the regular session, Tesla Inc jumped 4.7% and was the biggest boost to the S&amp;P 500 , followed by Apple, which rose after Wednesday's declines.</p>\n<p>Also, shares of Robinhood Markets Inc, the popular trading app used by many investors to participate in this year's \"meme\" stock trading frenzy, ended down 8.4% on their first day of trading.</p>\n<p>With rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.</p>\n<p>Volume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St gains with upbeat earnings and forecasts</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\">\nWall St gains with upbeat earnings and forecasts\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-30 07:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.</p>\n<p>The U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.</p>\n<p>Among the latest upbeat earnings news, shares of Ford Motor Co jumped 3.8% as the company lifted its profit forecast for the year, while KFC owner Yum Brands Inc rose 6.3% after it beat expectations for quarterly sales.</p>\n<p>The day's lower than expected economic data may have calmed a bit of investor angst that the Federal Reserve's \"easy money policy\" may be going away soon, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Investors also saw \"some pretty good earnings today,\" he said.</p>\n<p>Stocks got a boost on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus.</p>\n<p>Economically sensitive groups including financials , materials and energy led S&amp;P sector gains on Thursday.</p>\n<p>The Dow Jones Industrial Average rose 153.6 points, or 0.44%, to 35,084.53, the S&amp;P 500 gained 18.51 points, or 0.42%, to 4,419.15 and the Nasdaq Composite added 15.68 points, or 0.11%, to 14,778.26.</p>\n<p>The Dow and S&amp;P 500 hit intraday record highs early in the session.</p>\n<p>The S&amp;P 500 real estate sector hit a record intraday high as well, but ended down 0.2%.</p>\n<p>On the down side, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc shares fell 4% as the company warned revenue growth would \"decelerate significantly\" following Apple Inc's recent update to its iOS operating system that would impact the social media giant's ability to target ads.</p>\n<p>Results were in from about half of the S&amp;P 500 companies as of Thursday morning. Nearly 91% of the reports have beaten profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.</p>\n<p>After the bell, shares of Amazon.com Inc were down more than 5% after the company reported results and forecast third-quarter sales below Wall Street expectations.</p>\n<p>During the regular session, Tesla Inc jumped 4.7% and was the biggest boost to the S&amp;P 500 , followed by Apple, which rose after Wednesday's declines.</p>\n<p>Also, shares of Robinhood Markets Inc, the popular trading app used by many investors to participate in this year's \"meme\" stock trading frenzy, ended down 8.4% on their first day of trading.</p>\n<p>With rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.</p>\n<p>Volume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155184148","content_text":"NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.\nThe U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.\nAmong the latest upbeat earnings news, shares of Ford Motor Co jumped 3.8% as the company lifted its profit forecast for the year, while KFC owner Yum Brands Inc rose 6.3% after it beat expectations for quarterly sales.\nThe day's lower than expected economic data may have calmed a bit of investor angst that the Federal Reserve's \"easy money policy\" may be going away soon, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Investors also saw \"some pretty good earnings today,\" he said.\nStocks got a boost on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus.\nEconomically sensitive groups including financials , materials and energy led S&P sector gains on Thursday.\nThe Dow Jones Industrial Average rose 153.6 points, or 0.44%, to 35,084.53, the S&P 500 gained 18.51 points, or 0.42%, to 4,419.15 and the Nasdaq Composite added 15.68 points, or 0.11%, to 14,778.26.\nThe Dow and S&P 500 hit intraday record highs early in the session.\nThe S&P 500 real estate sector hit a record intraday high as well, but ended down 0.2%.\nOn the down side, Facebook Inc shares fell 4% as the company warned revenue growth would \"decelerate significantly\" following Apple Inc's recent update to its iOS operating system that would impact the social media giant's ability to target ads.\nResults were in from about half of the S&P 500 companies as of Thursday morning. Nearly 91% of the reports have beaten profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.\nAfter the bell, shares of Amazon.com Inc were down more than 5% after the company reported results and forecast third-quarter sales below Wall Street expectations.\nDuring the regular session, Tesla Inc jumped 4.7% and was the biggest boost to the S&P 500 , followed by Apple, which rose after Wednesday's declines.\nAlso, shares of Robinhood Markets Inc, the popular trading app used by many investors to participate in this year's \"meme\" stock trading frenzy, ended down 8.4% on their first day of trading.\nWith rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.\nVolume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days.\nAdvancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers.\nThe S&P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808725455,"gmtCreate":1627611785677,"gmtModify":1703493347116,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Keep the same&nbsp;momentum. Go go go.&nbsp;","listText":"Keep the same&nbsp;momentum. Go go go.&nbsp;","text":"Keep the same momentum. Go go go.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808725455","repostId":"2155184148","repostType":4,"repost":{"id":"2155184148","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627600545,"share":"https://ttm.financial/m/news/2155184148?lang=&edition=fundamental","pubTime":"2021-07-30 07:15","market":"us","language":"en","title":"Wall St gains with upbeat earnings and forecasts","url":"https://stock-news.laohu8.com/highlight/detail?id=2155184148","media":"Reuters","summary":"NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings ","content":"<p>NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.</p>\n<p>The U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.</p>\n<p>Among the latest upbeat earnings news, shares of Ford Motor Co jumped 3.8% as the company lifted its profit forecast for the year, while KFC owner Yum Brands Inc rose 6.3% after it beat expectations for quarterly sales.</p>\n<p>The day's lower than expected economic data may have calmed a bit of investor angst that the Federal Reserve's \"easy money policy\" may be going away soon, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Investors also saw \"some pretty good earnings today,\" he said.</p>\n<p>Stocks got a boost on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus.</p>\n<p>Economically sensitive groups including financials , materials and energy led S&amp;P sector gains on Thursday.</p>\n<p>The Dow Jones Industrial Average rose 153.6 points, or 0.44%, to 35,084.53, the S&amp;P 500 gained 18.51 points, or 0.42%, to 4,419.15 and the Nasdaq Composite added 15.68 points, or 0.11%, to 14,778.26.</p>\n<p>The Dow and S&amp;P 500 hit intraday record highs early in the session.</p>\n<p>The S&amp;P 500 real estate sector hit a record intraday high as well, but ended down 0.2%.</p>\n<p>On the down side, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc shares fell 4% as the company warned revenue growth would \"decelerate significantly\" following Apple Inc's recent update to its iOS operating system that would impact the social media giant's ability to target ads.</p>\n<p>Results were in from about half of the S&amp;P 500 companies as of Thursday morning. Nearly 91% of the reports have beaten profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.</p>\n<p>After the bell, shares of Amazon.com Inc were down more than 5% after the company reported results and forecast third-quarter sales below Wall Street expectations.</p>\n<p>During the regular session, Tesla Inc jumped 4.7% and was the biggest boost to the S&amp;P 500 , followed by Apple, which rose after Wednesday's declines.</p>\n<p>Also, shares of Robinhood Markets Inc, the popular trading app used by many investors to participate in this year's \"meme\" stock trading frenzy, ended down 8.4% on their first day of trading.</p>\n<p>With rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.</p>\n<p>Volume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St gains with upbeat earnings and forecasts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall St gains with upbeat earnings and forecasts\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-30 07:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.</p>\n<p>The U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.</p>\n<p>Among the latest upbeat earnings news, shares of Ford Motor Co jumped 3.8% as the company lifted its profit forecast for the year, while KFC owner Yum Brands Inc rose 6.3% after it beat expectations for quarterly sales.</p>\n<p>The day's lower than expected economic data may have calmed a bit of investor angst that the Federal Reserve's \"easy money policy\" may be going away soon, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Investors also saw \"some pretty good earnings today,\" he said.</p>\n<p>Stocks got a boost on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus.</p>\n<p>Economically sensitive groups including financials , materials and energy led S&amp;P sector gains on Thursday.</p>\n<p>The Dow Jones Industrial Average rose 153.6 points, or 0.44%, to 35,084.53, the S&amp;P 500 gained 18.51 points, or 0.42%, to 4,419.15 and the Nasdaq Composite added 15.68 points, or 0.11%, to 14,778.26.</p>\n<p>The Dow and S&amp;P 500 hit intraday record highs early in the session.</p>\n<p>The S&amp;P 500 real estate sector hit a record intraday high as well, but ended down 0.2%.</p>\n<p>On the down side, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc shares fell 4% as the company warned revenue growth would \"decelerate significantly\" following Apple Inc's recent update to its iOS operating system that would impact the social media giant's ability to target ads.</p>\n<p>Results were in from about half of the S&amp;P 500 companies as of Thursday morning. Nearly 91% of the reports have beaten profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.</p>\n<p>After the bell, shares of Amazon.com Inc were down more than 5% after the company reported results and forecast third-quarter sales below Wall Street expectations.</p>\n<p>During the regular session, Tesla Inc jumped 4.7% and was the biggest boost to the S&amp;P 500 , followed by Apple, which rose after Wednesday's declines.</p>\n<p>Also, shares of Robinhood Markets Inc, the popular trading app used by many investors to participate in this year's \"meme\" stock trading frenzy, ended down 8.4% on their first day of trading.</p>\n<p>With rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.</p>\n<p>Volume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155184148","content_text":"NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.\nThe U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.\nAmong the latest upbeat earnings news, shares of Ford Motor Co jumped 3.8% as the company lifted its profit forecast for the year, while KFC owner Yum Brands Inc rose 6.3% after it beat expectations for quarterly sales.\nThe day's lower than expected economic data may have calmed a bit of investor angst that the Federal Reserve's \"easy money policy\" may be going away soon, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Investors also saw \"some pretty good earnings today,\" he said.\nStocks got a boost on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus.\nEconomically sensitive groups including financials , materials and energy led S&P sector gains on Thursday.\nThe Dow Jones Industrial Average rose 153.6 points, or 0.44%, to 35,084.53, the S&P 500 gained 18.51 points, or 0.42%, to 4,419.15 and the Nasdaq Composite added 15.68 points, or 0.11%, to 14,778.26.\nThe Dow and S&P 500 hit intraday record highs early in the session.\nThe S&P 500 real estate sector hit a record intraday high as well, but ended down 0.2%.\nOn the down side, Facebook Inc shares fell 4% as the company warned revenue growth would \"decelerate significantly\" following Apple Inc's recent update to its iOS operating system that would impact the social media giant's ability to target ads.\nResults were in from about half of the S&P 500 companies as of Thursday morning. Nearly 91% of the reports have beaten profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.\nAfter the bell, shares of Amazon.com Inc were down more than 5% after the company reported results and forecast third-quarter sales below Wall Street expectations.\nDuring the regular session, Tesla Inc jumped 4.7% and was the biggest boost to the S&P 500 , followed by Apple, which rose after Wednesday's declines.\nAlso, shares of Robinhood Markets Inc, the popular trading app used by many investors to participate in this year's \"meme\" stock trading frenzy, ended down 8.4% on their first day of trading.\nWith rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.\nVolume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days.\nAdvancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers.\nThe S&P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":336,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801730339,"gmtCreate":1627533244421,"gmtModify":1703491850333,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"old&nbsp;news that has already digested by the&nbsp;market but&nbsp;yet can create a great impact to market volatility&nbsp;.&nbsp;","listText":"old&nbsp;news that has already digested by the&nbsp;market but&nbsp;yet can create a great impact to market volatility&nbsp;.&nbsp;","text":"old news that has already digested by the market but yet can create a great impact to market volatility .","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/801730339","repostId":"1127264445","repostType":4,"repost":{"id":"1127264445","pubTimestamp":1627514621,"share":"https://ttm.financial/m/news/1127264445?lang=&edition=fundamental","pubTime":"2021-07-29 07:23","market":"us","language":"en","title":"S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1127264445","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after th","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> said the central bank was still a ways away from considering raising interest rates.</p>\n<p>Keeping the market in check, shares of tech giant <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc fell 1.2% after it forecast slowing revenue growth.</p>\n<p>In a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks.</p>\n<p>“It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz &amp; Associates Inc, an investment advisory firm based in Toledo, Ohio.</p>\n<p>Right after the Fed statement, the S&amp;P 500 index reversed slight declines though it still ended a hair lower on the day.</p>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> have been worried about how rising inflation and a spike in COVID-19 cases might impact the central bank’s plan to potentially start withdrawing its stimulus.</p>\n<p>The central bank also said that higher inflation remained the result of “transitory factors.” The Fed kept its overnight benchmark interest rate near zero and left unchanged its bond-buying program.</p>\n<p>The <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> ended higher and shares of Google parent <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc hit an all-time high as a surge in advertising spending helped it post record quarterly results. The stock ended up 3.2%.</p>\n<p>The Dow Jones Industrial Average fell 127.59 points, or 0.36%, to 34,930.93, the S&amp;P 500 lost 0.82 point, or 0.02%, to 4,400.64 and the Nasdaq Composite added 102.01 points, or 0.7%, to 14,762.58.</p>\n<p>The Fed’s statement came at the conclusion of its latest two-day policy meeting.</p>\n<p>“They had a chance to signal they were going to become more hawkish and they chose not to take it. The most important thing is they are predictable and they are remaining predictable,” said Ellen Hazen, portfolio manager at F.L. Putnam Investment Management in <a href=\"https://laohu8.com/S/WEBK\">Wellesley</a>, Massachusetts.</p>\n<p>In other earnings news, <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp ended down 0.1% even as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.</p>\n<p>Volume on U.S. exchanges was 9.86 billion shares, compared with a similar average for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.85-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 44 new highs and 67 new lows.</p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-29 07:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome Powell said the ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","UPRO":"三倍做多标普500ETF",".DJI":"道琼斯","OEF":"标普100指数ETF-iShares","SH":"标普500反向ETF","SSO":"两倍做多标普500ETF",".IXIC":"NASDAQ Composite","SDS":"两倍做空标普500ETF","SPY":"标普500ETF",".SPX":"S&P 500 Index","OEX":"标普100","IVV":"标普500指数ETF","SPXU":"三倍做空标普500ETF"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127264445","content_text":"NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome Powell said the central bank was still a ways away from considering raising interest rates.\nKeeping the market in check, shares of tech giant Apple Inc fell 1.2% after it forecast slowing revenue growth.\nIn a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks.\n“It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz & Associates Inc, an investment advisory firm based in Toledo, Ohio.\nRight after the Fed statement, the S&P 500 index reversed slight declines though it still ended a hair lower on the day.\nInvestors have been worried about how rising inflation and a spike in COVID-19 cases might impact the central bank’s plan to potentially start withdrawing its stimulus.\nThe central bank also said that higher inflation remained the result of “transitory factors.” The Fed kept its overnight benchmark interest rate near zero and left unchanged its bond-buying program.\nThe Nasdaq ended higher and shares of Google parent Alphabet Inc hit an all-time high as a surge in advertising spending helped it post record quarterly results. The stock ended up 3.2%.\nThe Dow Jones Industrial Average fell 127.59 points, or 0.36%, to 34,930.93, the S&P 500 lost 0.82 point, or 0.02%, to 4,400.64 and the Nasdaq Composite added 102.01 points, or 0.7%, to 14,762.58.\nThe Fed’s statement came at the conclusion of its latest two-day policy meeting.\n“They had a chance to signal they were going to become more hawkish and they chose not to take it. The most important thing is they are predictable and they are remaining predictable,” said Ellen Hazen, portfolio manager at F.L. Putnam Investment Management in Wellesley, Massachusetts.\nIn other earnings news, Microsoft Corp ended down 0.1% even as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.\nVolume on U.S. exchanges was 9.86 billion shares, compared with a similar average for the full session over the last 20 trading days.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.85-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored advancers.\nThe S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 44 new highs and 67 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179763032,"gmtCreate":1626577925526,"gmtModify":1703761956748,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Any negative news will cost the market to go south. It is always good to plan for the worst and&nbsp;hope for the&nbsp;best.&nbsp;","listText":"Any negative news will cost the market to go south. It is always good to plan for the worst and&nbsp;hope for the&nbsp;best.&nbsp;","text":"Any negative news will cost the market to go south. It is always good to plan for the worst and hope for the best.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/179763032","repostId":"1149577900","repostType":4,"repost":{"id":"1149577900","pubTimestamp":1626483617,"share":"https://ttm.financial/m/news/1149577900?lang=&edition=fundamental","pubTime":"2021-07-17 09:00","market":"us","language":"en","title":"Don't Fear A Stock Market Crash","url":"https://stock-news.laohu8.com/highlight/detail?id=1149577900","media":"seekingalpha","summary":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push ","content":"<p>Summary</p>\n<ul>\n <li>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.</li>\n <li>There are four main factors that this market exhibits that have the potential to cause a crash.</li>\n <li>Those factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.</li>\n <li>Preparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.</li>\n <li>A crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.</li>\n</ul>\n<p>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.</p>\n<p>An Abundance of 'Warnings'</p>\n<p>Simply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.</p>\n<ul>\n <li>Harry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.</li>\n <li>Jeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.</li>\n <li>John Hussmanhas warned that valuations are extreme, and called for the S&amp;P 500 to see 12 years of negative returns ahead and a &gt;60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"</li>\n</ul>\n<p>Yet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&amp;P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.</p>\n<p>Four Factors</p>\n<p>While there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.</p>\n<p>Excessive Speculation</p>\n<p>Speculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.</p>\n<p>While single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.</p>\n<p><img src=\"https://static.tigerbbs.com/dccc290398aed22a11cf41ae63a85bce\" tg-width=\"624\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p>\n<p>Margin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.</p>\n<p>Back in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.</p>\n<p>Speculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.</p>\n<p>Growth Slowdown</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/034a916ba93dac9b099409c5906bee37\" tg-width=\"631\" tg-height=\"563\" referrerpolicy=\"no-referrer\"><span>Graphic fromWeForumvia Statista</span></p>\n<p>The economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.</p>\n<p>Unemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.</p>\n<p>The market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.</p>\n<p>Peak Valuations</p>\n<p>Arguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/388dd5417e610209de84d8a86ca86f91\" tg-width=\"624\" tg-height=\"351\" referrerpolicy=\"no-referrer\"><span>Graphic fromBloomberg</span></p>\n<p>February and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising &gt;100% on rumors of mergers, only to fall &gt;50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.</p>\n<p>SPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6a5ace269e2c48c6ad6bb5180ce32e48\" tg-width=\"635\" tg-height=\"535\" referrerpolicy=\"no-referrer\"><span>Data byYCharts</span></p>\n<p>Tech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.</p>\n<p>But these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&amp;P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/136219a2e6ea016fd91597c989fa1a9e\" tg-width=\"624\" tg-height=\"312\" referrerpolicy=\"no-referrer\"><span>Graphic fromCurrent Market Valuation</span></p>\n<p>And as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8ab71b923769effdde5d09e1d3cd3fd\" tg-width=\"624\" tg-height=\"354\" referrerpolicy=\"no-referrer\"><span>Graphic fromBusiness Insider</span></p>\n<p>Low Interest Rates</p>\n<p>The fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.</p>\n<p>When interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e8cb16f3b4b962cfa8adbffa4127b92\" tg-width=\"960\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Graphic fromJP Morgan</span></p>\n<p>Although rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.</p>\n<p>Is It Time To Prepare?</p>\n<p>Signs and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims of<i>x%</i>drops in<i>x</i>month are speculative in nature, unless that individual knows something unknown to the rest of the market.</p>\n<p>When facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like&nbsp;SPY&nbsp;and&nbsp;DIA&nbsp;could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.<i>Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.</i></p>\n<p>Again, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Don't Fear A Stock Market Crash</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\">\nDon't Fear A Stock Market Crash\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-17 09:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1149577900","content_text":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the potential to cause a crash.\nThose factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.\nPreparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.\nA crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.\nAn Abundance of 'Warnings'\nSimply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.\n\nHarry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.\nJeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.\nJohn Hussmanhas warned that valuations are extreme, and called for the S&P 500 to see 12 years of negative returns ahead and a >60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"\n\nYet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.\nFour Factors\nWhile there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.\nExcessive Speculation\nSpeculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.\nWhile single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.\n\nMargin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.\nBack in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.\nSpeculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.\nGrowth Slowdown\nGraphic fromWeForumvia Statista\nThe economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.\nUnemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.\nThe market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.\nPeak Valuations\nArguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.\nGraphic fromBloomberg\nFebruary and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising >100% on rumors of mergers, only to fall >50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.\nSPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.\nData byYCharts\nTech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.\nBut these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.\nGraphic fromCurrent Market Valuation\nAnd as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.\nGraphic fromBusiness Insider\nLow Interest Rates\nThe fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.\nWhen interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.\nGraphic fromJP Morgan\nAlthough rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.\nIs It Time To Prepare?\nSigns and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims ofx%drops inxmonth are speculative in nature, unless that individual knows something unknown to the rest of the market.\nWhen facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like SPY and DIA could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.\nAgain, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.","news_type":1},"isVote":1,"tweetType":1,"viewCount":484,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147391893,"gmtCreate":1626332747012,"gmtModify":1703758065145,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Fyi<a href=\"https://laohu8.com/U/4089366555562880\">@BabyTraderV</a>","listText":"Fyi<a href=\"https://laohu8.com/U/4089366555562880\">@BabyTraderV</a>","text":"Fyi@BabyTraderV","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/147391893","repostId":"2151751740","repostType":4,"repost":{"id":"2151751740","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1626280020,"share":"https://ttm.financial/m/news/2151751740?lang=&edition=fundamental","pubTime":"2021-07-15 00:27","market":"hk","language":"en","title":"19 dividend stocks to help you combat inflation","url":"https://stock-news.laohu8.com/highlight/detail?id=2151751740","media":"Dow Jones","summary":"These stocks have dividend yields that are at least three times as high as the yields on 10-year U.S","content":"<blockquote>\n These stocks have dividend yields that are at least three times as high as the yields on 10-year U.S. Treasury notes.\n</blockquote>\n<p>How can you avoid inflation, or at least make up for it?</p>\n<p>Consumers and investors may be alarmed by rising prices. But a combination of prudent spending and investing can help these overlapping groups of people get through a period of uncertainty brought about by pent-up demand and supply shortages.</p>\n<p>Below are two lists of 19 dividend stocks with attractive yields -- companies that are expected to have plenty of cash flow to cover dividend increases or other actions that may be good for shareholders, including stock repurchases and business expansion.</p>\n<p>The consumer price index rose by 0.9% in only <a href=\"https://laohu8.com/S/AONE\">one</a> month . It's easy to say that you shouldn't buy a car or truck this year. The incredible demand for used vehicles has led to a shortage for many of the most popular new ones, which means dealers will be less likely to haggle.</p>\n<p>Of course you might be in a pickle and need to get another car or truck at the worst time, but maybe you can make a modest selection this time. You might also delay a plan to sell your home and move into a bigger <a href=\"https://laohu8.com/S/AONE.U\">one</a>, considering that every other national housing boom you have ever witnessed has eventually cooled. In other words, it is possible some of your big spending plans can be curbed or delayed.</p>\n<p><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> dividend stock screens</p>\n<p>What do you want from a dividend stock? The most obvious answer is \"income,\" but what may be more important is that the dividend increases over time. That's how you stay ahead of inflation. Even when official inflation figures are low, your personal inflation can be considerable, depending on your circumstances. Or you may need investment income to replace part of your working income when you retire.</p>\n<p>Here's a recent list of the 30 stocks in the S&amp;P 500 index whose dividends increased the most over the past five years . Their dividend yields may not have been very high to begin with, but if you had held them for five years, the yields on your five-year-old shares would have grown significantly.</p>\n<p>For this new screen, we took a different approach to focus more on higher current dividend yields. Beginning with the S&amp;P Composite 1500 Index (made up of the S&amp;P 500 , the S&amp;P Mid Cap 400 Index <a href=\"https://laohu8.com/S/MID\">$(MID)$</a> and the S&amp;P Small Cap 600 Index ), we started with stocks with dividend yields of at least 4.26% -- three times the 1.42% yield on 10-year U.S. Treasury notes on July 13.</p>\n<p>Then we looked at free cash flow yields. A company's free cash flow is its remaining cash flow after planned capital expenditures. It can be used to increase dividends, buy back stock, pay down debt, business expansion or fund acquisitions. A free cash flow yield that is higher than the dividend yield can provide investors with some comfort that a company is unlikely to cut its dividend and maybe be in a position to increase it.</p>\n<p>A trailing free cash flow yield can be calculated by dividing the past four quarters' free cash flow per share by the current share price. If available, consensus estimates for the next 12 months can be used to calculate a forward FCF yield. If the FCF yield is above the current dividend yield, there is free cash flow \"headroom.\" (The screen below only includes companies for which forward FCF estimates were available from FactSet.)</p>\n<p>Financial companies were excluded from the screen, as FCF yield analysis isn't appropriate for the group. Companies with fewer than five analysts polled for FactSet's estimates were also excluded. For real estate investment trusts, funds from operations (FFO) is the industry standard for gauging dividend-paying ability. So there is a separate screen for that group below.</p>\n<p>Starting with the S&amp;P Composite 1500, here are the eight stocks that made the cut, with dividend yields of at least 4.26%, positive forward and trailing FCF \"headroom\" and no dividend cuts over the past three years, according to data provided by FactSet. The list is sorted by dividend yield:</p>\n<table>\n <tbody>\n  <tr>\n   <td>Company</td>\n   <td>Dividend yield</td>\n   <td>Forward FCF yield</td>\n   <td>Forward \"headroom\"</td>\n   <td>Trailing FCF yield</td>\n   <td>Trailing \"headroom\"</td>\n  </tr>\n  <tr>\n   <td>Williams Cos. Inc. WMB</td>\n   <td>6.26%</td>\n   <td>9.08%</td>\n   <td>2.82%</td>\n   <td>7.53%</td>\n   <td>1.27%</td>\n  </tr>\n  <tr>\n   <td>B&amp;G Foods Inc. BGS</td>\n   <td>6.20%</td>\n   <td>11.44%</td>\n   <td>5.24%</td>\n   <td>11.00%</td>\n   <td>4.80%</td>\n  </tr>\n  <tr>\n   <td>Kinder Morgan Inc. Class P KMI</td>\n   <td>5.91%</td>\n   <td>9.86%</td>\n   <td>3.95%</td>\n   <td>9.98%</td>\n   <td>4.07%</td>\n  </tr>\n  <tr>\n   <td>H&amp;R Block Inc. HRB</td>\n   <td>4.57%</td>\n   <td>14.83%</td>\n   <td>10.25%</td>\n   <td>13.28%</td>\n   <td>8.71%</td>\n  </tr>\n  <tr>\n   <td>Verizon Communications Inc. VZ</td>\n   <td>4.47%</td>\n   <td>7.84%</td>\n   <td>3.37%</td>\n   <td>10.86%</td>\n   <td>6.38%</td>\n  </tr>\n  <tr>\n   <td>Dow Inc. DOW</td>\n   <td>4.47%</td>\n   <td>9.66%</td>\n   <td>5.19%</td>\n   <td>7.64%</td>\n   <td>3.18%</td>\n  </tr>\n  <tr>\n   <td>LyondellBasell Industries NV LYB</td>\n   <td>4.43%</td>\n   <td>10.82%</td>\n   <td>6.39%</td>\n   <td>5.30%</td>\n   <td>0.87%</td>\n  </tr>\n  <tr>\n   <td>AbbVie Inc. ABBV</td>\n   <td>4.41%</td>\n   <td>10.19%</td>\n   <td>5.77%</td>\n   <td>8.61%</td>\n   <td>4.20%</td>\n  </tr>\n  <tr>\n   <td>Source: FactSet</td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td></td>\n  </tr>\n </tbody>\n</table>\n<p>Click on the tickers for more about each company, including news, business profiles, price ratios and ratings.</p>\n<p>In case you are wondering about AT&amp;T Inc. <a href=\"https://laohu8.com/S/T\">$(T)$</a> -- known for its high dividend yield over the long term -- the company hasn't yet announced a dividend cut but said in March that as part of its plan to divest its WarnerMedia properties, it was going to \"resize \" the dividend, taking it down to a payout ratio of about 40% to 43% of free cash flow.</p>\n<p>We don't have the figures to predict how high the slimmed-down company's dividend might be after AT&amp;T's deals are completed, but the yield on the shares as of the close on July 13 was 7.36%, while its forward FCF yield was 11.79%. Ordinarily that would appear to be plenty of headroom to support the dividend. But it implies a payout ratio of 62%, which is much higher than the ratio of the current yield to the forward FCF yield.</p>\n<p>REITs</p>\n<p>For a second screen of real estate investment trusts, we used funds from operations (FFO) instead of free cash flow. FFO adds depreciation on real estate to earnings and nets out gains or losses on the sale of property. Here are the 10 highest-yielding REITs in the S&amp;P Composite 1500 with positive forward and trailing FFO \"headroom\" and no dividend cuts over the past three years, according to data provided by FactSet:</p>\n<table>\n <tbody>\n  <tr>\n   <td>REIT</td>\n   <td>Dividend yield</td>\n   <td>Forward FFO yield</td>\n   <td>Forward \"headroom\"</td>\n   <td>Trailing FFO yield</td>\n   <td>Trailing \"headroom\"</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/OHI\">Omega Healthcare Investors</a> Inc. OHI</td>\n   <td>7.27%</td>\n   <td>9.08%</td>\n   <td>1.81%</td>\n   <td>8.93%</td>\n   <td>1.65%</td>\n  </tr>\n  <tr>\n   <td>LTC Properties Inc. LTC</td>\n   <td>5.88%</td>\n   <td>7.00%</td>\n   <td>1.12%</td>\n   <td>5.91%</td>\n   <td>0.03%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/MPW\">Medical Properties Trust</a> Inc. MPW</td>\n   <td>5.58%</td>\n   <td>8.91%</td>\n   <td>3.33%</td>\n   <td>8.07%</td>\n   <td>2.49%</td>\n  </tr>\n  <tr>\n   <td>Brandywine Realty Trust BDN</td>\n   <td>5.44%</td>\n   <td>9.98%</td>\n   <td>4.55%</td>\n   <td>10.01%</td>\n   <td>4.58%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/DOC\">Physicians Realty Trust</a> DOC</td>\n   <td>4.99%</td>\n   <td>6.02%</td>\n   <td>1.03%</td>\n   <td>5.75%</td>\n   <td>0.76%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/ILPT\">Industrial Logistics Properties Trust</a></td>\n   <td>4.97%</td>\n   <td>7.10%</td>\n   <td>2.14%</td>\n   <td>7.00%</td>\n   <td>2.03%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/GTY\">Getty Realty Corp</a>. GTY</td>\n   <td>4.91%</td>\n   <td>6.16%</td>\n   <td>1.26%</td>\n   <td>7.14%</td>\n   <td>2.23%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/DEA\">Easterly Government Properties Inc</a>. DEA</td>\n   <td>4.83%</td>\n   <td>6.14%</td>\n   <td>1.31%</td>\n   <td>5.95%</td>\n   <td>1.12%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/SLG\">SL Green Realty Corp</a>. SLG</td>\n   <td>4.71%</td>\n   <td>8.73%</td>\n   <td>4.03%</td>\n   <td>8.89%</td>\n   <td>4.18%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/CTRE\">CareTrust REIT Inc.</a> CTRE</td>\n   <td>4.48%</td>\n   <td>6.49%</td>\n   <td>2.00%</td>\n   <td>5.92%</td>\n   <td>1.44%</td>\n  </tr>\n  <tr>\n   <td>Source: FactSet</td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td></td>\n  </tr>\n </tbody>\n</table>\n<p>As always, you should do your own research before considering any stock for investment. For the REITs, it is especially important to consider a company's investment focus. Whether it is retail, office property, health-care property or another area, each has its own opportunities and challenges.</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>19 dividend stocks to help you combat inflation</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\">\n19 dividend stocks to help you combat inflation\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-07-15 00:27</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n These stocks have dividend yields that are at least three times as high as the yields on 10-year U.S. Treasury notes.\n</blockquote>\n<p>How can you avoid inflation, or at least make up for it?</p>\n<p>Consumers and investors may be alarmed by rising prices. But a combination of prudent spending and investing can help these overlapping groups of people get through a period of uncertainty brought about by pent-up demand and supply shortages.</p>\n<p>Below are two lists of 19 dividend stocks with attractive yields -- companies that are expected to have plenty of cash flow to cover dividend increases or other actions that may be good for shareholders, including stock repurchases and business expansion.</p>\n<p>The consumer price index rose by 0.9% in only <a href=\"https://laohu8.com/S/AONE\">one</a> month . It's easy to say that you shouldn't buy a car or truck this year. The incredible demand for used vehicles has led to a shortage for many of the most popular new ones, which means dealers will be less likely to haggle.</p>\n<p>Of course you might be in a pickle and need to get another car or truck at the worst time, but maybe you can make a modest selection this time. You might also delay a plan to sell your home and move into a bigger <a href=\"https://laohu8.com/S/AONE.U\">one</a>, considering that every other national housing boom you have ever witnessed has eventually cooled. In other words, it is possible some of your big spending plans can be curbed or delayed.</p>\n<p><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> dividend stock screens</p>\n<p>What do you want from a dividend stock? The most obvious answer is \"income,\" but what may be more important is that the dividend increases over time. That's how you stay ahead of inflation. Even when official inflation figures are low, your personal inflation can be considerable, depending on your circumstances. Or you may need investment income to replace part of your working income when you retire.</p>\n<p>Here's a recent list of the 30 stocks in the S&amp;P 500 index whose dividends increased the most over the past five years . Their dividend yields may not have been very high to begin with, but if you had held them for five years, the yields on your five-year-old shares would have grown significantly.</p>\n<p>For this new screen, we took a different approach to focus more on higher current dividend yields. Beginning with the S&amp;P Composite 1500 Index (made up of the S&amp;P 500 , the S&amp;P Mid Cap 400 Index <a href=\"https://laohu8.com/S/MID\">$(MID)$</a> and the S&amp;P Small Cap 600 Index ), we started with stocks with dividend yields of at least 4.26% -- three times the 1.42% yield on 10-year U.S. Treasury notes on July 13.</p>\n<p>Then we looked at free cash flow yields. A company's free cash flow is its remaining cash flow after planned capital expenditures. It can be used to increase dividends, buy back stock, pay down debt, business expansion or fund acquisitions. A free cash flow yield that is higher than the dividend yield can provide investors with some comfort that a company is unlikely to cut its dividend and maybe be in a position to increase it.</p>\n<p>A trailing free cash flow yield can be calculated by dividing the past four quarters' free cash flow per share by the current share price. If available, consensus estimates for the next 12 months can be used to calculate a forward FCF yield. If the FCF yield is above the current dividend yield, there is free cash flow \"headroom.\" (The screen below only includes companies for which forward FCF estimates were available from FactSet.)</p>\n<p>Financial companies were excluded from the screen, as FCF yield analysis isn't appropriate for the group. Companies with fewer than five analysts polled for FactSet's estimates were also excluded. For real estate investment trusts, funds from operations (FFO) is the industry standard for gauging dividend-paying ability. So there is a separate screen for that group below.</p>\n<p>Starting with the S&amp;P Composite 1500, here are the eight stocks that made the cut, with dividend yields of at least 4.26%, positive forward and trailing FCF \"headroom\" and no dividend cuts over the past three years, according to data provided by FactSet. The list is sorted by dividend yield:</p>\n<table>\n <tbody>\n  <tr>\n   <td>Company</td>\n   <td>Dividend yield</td>\n   <td>Forward FCF yield</td>\n   <td>Forward \"headroom\"</td>\n   <td>Trailing FCF yield</td>\n   <td>Trailing \"headroom\"</td>\n  </tr>\n  <tr>\n   <td>Williams Cos. Inc. WMB</td>\n   <td>6.26%</td>\n   <td>9.08%</td>\n   <td>2.82%</td>\n   <td>7.53%</td>\n   <td>1.27%</td>\n  </tr>\n  <tr>\n   <td>B&amp;G Foods Inc. BGS</td>\n   <td>6.20%</td>\n   <td>11.44%</td>\n   <td>5.24%</td>\n   <td>11.00%</td>\n   <td>4.80%</td>\n  </tr>\n  <tr>\n   <td>Kinder Morgan Inc. Class P KMI</td>\n   <td>5.91%</td>\n   <td>9.86%</td>\n   <td>3.95%</td>\n   <td>9.98%</td>\n   <td>4.07%</td>\n  </tr>\n  <tr>\n   <td>H&amp;R Block Inc. HRB</td>\n   <td>4.57%</td>\n   <td>14.83%</td>\n   <td>10.25%</td>\n   <td>13.28%</td>\n   <td>8.71%</td>\n  </tr>\n  <tr>\n   <td>Verizon Communications Inc. VZ</td>\n   <td>4.47%</td>\n   <td>7.84%</td>\n   <td>3.37%</td>\n   <td>10.86%</td>\n   <td>6.38%</td>\n  </tr>\n  <tr>\n   <td>Dow Inc. DOW</td>\n   <td>4.47%</td>\n   <td>9.66%</td>\n   <td>5.19%</td>\n   <td>7.64%</td>\n   <td>3.18%</td>\n  </tr>\n  <tr>\n   <td>LyondellBasell Industries NV LYB</td>\n   <td>4.43%</td>\n   <td>10.82%</td>\n   <td>6.39%</td>\n   <td>5.30%</td>\n   <td>0.87%</td>\n  </tr>\n  <tr>\n   <td>AbbVie Inc. ABBV</td>\n   <td>4.41%</td>\n   <td>10.19%</td>\n   <td>5.77%</td>\n   <td>8.61%</td>\n   <td>4.20%</td>\n  </tr>\n  <tr>\n   <td>Source: FactSet</td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td></td>\n  </tr>\n </tbody>\n</table>\n<p>Click on the tickers for more about each company, including news, business profiles, price ratios and ratings.</p>\n<p>In case you are wondering about AT&amp;T Inc. <a href=\"https://laohu8.com/S/T\">$(T)$</a> -- known for its high dividend yield over the long term -- the company hasn't yet announced a dividend cut but said in March that as part of its plan to divest its WarnerMedia properties, it was going to \"resize \" the dividend, taking it down to a payout ratio of about 40% to 43% of free cash flow.</p>\n<p>We don't have the figures to predict how high the slimmed-down company's dividend might be after AT&amp;T's deals are completed, but the yield on the shares as of the close on July 13 was 7.36%, while its forward FCF yield was 11.79%. Ordinarily that would appear to be plenty of headroom to support the dividend. But it implies a payout ratio of 62%, which is much higher than the ratio of the current yield to the forward FCF yield.</p>\n<p>REITs</p>\n<p>For a second screen of real estate investment trusts, we used funds from operations (FFO) instead of free cash flow. FFO adds depreciation on real estate to earnings and nets out gains or losses on the sale of property. Here are the 10 highest-yielding REITs in the S&amp;P Composite 1500 with positive forward and trailing FFO \"headroom\" and no dividend cuts over the past three years, according to data provided by FactSet:</p>\n<table>\n <tbody>\n  <tr>\n   <td>REIT</td>\n   <td>Dividend yield</td>\n   <td>Forward FFO yield</td>\n   <td>Forward \"headroom\"</td>\n   <td>Trailing FFO yield</td>\n   <td>Trailing \"headroom\"</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/OHI\">Omega Healthcare Investors</a> Inc. OHI</td>\n   <td>7.27%</td>\n   <td>9.08%</td>\n   <td>1.81%</td>\n   <td>8.93%</td>\n   <td>1.65%</td>\n  </tr>\n  <tr>\n   <td>LTC Properties Inc. LTC</td>\n   <td>5.88%</td>\n   <td>7.00%</td>\n   <td>1.12%</td>\n   <td>5.91%</td>\n   <td>0.03%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/MPW\">Medical Properties Trust</a> Inc. MPW</td>\n   <td>5.58%</td>\n   <td>8.91%</td>\n   <td>3.33%</td>\n   <td>8.07%</td>\n   <td>2.49%</td>\n  </tr>\n  <tr>\n   <td>Brandywine Realty Trust BDN</td>\n   <td>5.44%</td>\n   <td>9.98%</td>\n   <td>4.55%</td>\n   <td>10.01%</td>\n   <td>4.58%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/DOC\">Physicians Realty Trust</a> DOC</td>\n   <td>4.99%</td>\n   <td>6.02%</td>\n   <td>1.03%</td>\n   <td>5.75%</td>\n   <td>0.76%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/ILPT\">Industrial Logistics Properties Trust</a></td>\n   <td>4.97%</td>\n   <td>7.10%</td>\n   <td>2.14%</td>\n   <td>7.00%</td>\n   <td>2.03%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/GTY\">Getty Realty Corp</a>. GTY</td>\n   <td>4.91%</td>\n   <td>6.16%</td>\n   <td>1.26%</td>\n   <td>7.14%</td>\n   <td>2.23%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/DEA\">Easterly Government Properties Inc</a>. DEA</td>\n   <td>4.83%</td>\n   <td>6.14%</td>\n   <td>1.31%</td>\n   <td>5.95%</td>\n   <td>1.12%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/SLG\">SL Green Realty Corp</a>. SLG</td>\n   <td>4.71%</td>\n   <td>8.73%</td>\n   <td>4.03%</td>\n   <td>8.89%</td>\n   <td>4.18%</td>\n  </tr>\n  <tr>\n   <td><a href=\"https://laohu8.com/S/CTRE\">CareTrust REIT Inc.</a> CTRE</td>\n   <td>4.48%</td>\n   <td>6.49%</td>\n   <td>2.00%</td>\n   <td>5.92%</td>\n   <td>1.44%</td>\n  </tr>\n  <tr>\n   <td>Source: FactSet</td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td></td>\n  </tr>\n </tbody>\n</table>\n<p>As always, you should do your own research before considering any stock for investment. For the REITs, it is especially important to consider a company's investment focus. Whether it is retail, office property, health-care property or another area, each has its own opportunities and challenges.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRCT":"Cricut, Inc.","VZ":"威瑞森","T":"美国电话电报","KMI":"金德尔摩根","ABBV":"艾伯维公司","TERN":"Terns Pharmaceuticals, Inc.","WMB":"威廉姆斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151751740","content_text":"These stocks have dividend yields that are at least three times as high as the yields on 10-year U.S. Treasury notes.\n\nHow can you avoid inflation, or at least make up for it?\nConsumers and investors may be alarmed by rising prices. But a combination of prudent spending and investing can help these overlapping groups of people get through a period of uncertainty brought about by pent-up demand and supply shortages.\nBelow are two lists of 19 dividend stocks with attractive yields -- companies that are expected to have plenty of cash flow to cover dividend increases or other actions that may be good for shareholders, including stock repurchases and business expansion.\nThe consumer price index rose by 0.9% in only one month . It's easy to say that you shouldn't buy a car or truck this year. The incredible demand for used vehicles has led to a shortage for many of the most popular new ones, which means dealers will be less likely to haggle.\nOf course you might be in a pickle and need to get another car or truck at the worst time, but maybe you can make a modest selection this time. You might also delay a plan to sell your home and move into a bigger one, considering that every other national housing boom you have ever witnessed has eventually cooled. In other words, it is possible some of your big spending plans can be curbed or delayed.\nTwo dividend stock screens\nWhat do you want from a dividend stock? The most obvious answer is \"income,\" but what may be more important is that the dividend increases over time. That's how you stay ahead of inflation. Even when official inflation figures are low, your personal inflation can be considerable, depending on your circumstances. Or you may need investment income to replace part of your working income when you retire.\nHere's a recent list of the 30 stocks in the S&P 500 index whose dividends increased the most over the past five years . Their dividend yields may not have been very high to begin with, but if you had held them for five years, the yields on your five-year-old shares would have grown significantly.\nFor this new screen, we took a different approach to focus more on higher current dividend yields. Beginning with the S&P Composite 1500 Index (made up of the S&P 500 , the S&P Mid Cap 400 Index $(MID)$ and the S&P Small Cap 600 Index ), we started with stocks with dividend yields of at least 4.26% -- three times the 1.42% yield on 10-year U.S. Treasury notes on July 13.\nThen we looked at free cash flow yields. A company's free cash flow is its remaining cash flow after planned capital expenditures. It can be used to increase dividends, buy back stock, pay down debt, business expansion or fund acquisitions. A free cash flow yield that is higher than the dividend yield can provide investors with some comfort that a company is unlikely to cut its dividend and maybe be in a position to increase it.\nA trailing free cash flow yield can be calculated by dividing the past four quarters' free cash flow per share by the current share price. If available, consensus estimates for the next 12 months can be used to calculate a forward FCF yield. If the FCF yield is above the current dividend yield, there is free cash flow \"headroom.\" (The screen below only includes companies for which forward FCF estimates were available from FactSet.)\nFinancial companies were excluded from the screen, as FCF yield analysis isn't appropriate for the group. Companies with fewer than five analysts polled for FactSet's estimates were also excluded. For real estate investment trusts, funds from operations (FFO) is the industry standard for gauging dividend-paying ability. So there is a separate screen for that group below.\nStarting with the S&P Composite 1500, here are the eight stocks that made the cut, with dividend yields of at least 4.26%, positive forward and trailing FCF \"headroom\" and no dividend cuts over the past three years, according to data provided by FactSet. The list is sorted by dividend yield:\n\n\n\nCompany\nDividend yield\nForward FCF yield\nForward \"headroom\"\nTrailing FCF yield\nTrailing \"headroom\"\n\n\nWilliams Cos. Inc. WMB\n6.26%\n9.08%\n2.82%\n7.53%\n1.27%\n\n\nB&G Foods Inc. BGS\n6.20%\n11.44%\n5.24%\n11.00%\n4.80%\n\n\nKinder Morgan Inc. Class P KMI\n5.91%\n9.86%\n3.95%\n9.98%\n4.07%\n\n\nH&R Block Inc. HRB\n4.57%\n14.83%\n10.25%\n13.28%\n8.71%\n\n\nVerizon Communications Inc. VZ\n4.47%\n7.84%\n3.37%\n10.86%\n6.38%\n\n\nDow Inc. DOW\n4.47%\n9.66%\n5.19%\n7.64%\n3.18%\n\n\nLyondellBasell Industries NV LYB\n4.43%\n10.82%\n6.39%\n5.30%\n0.87%\n\n\nAbbVie Inc. ABBV\n4.41%\n10.19%\n5.77%\n8.61%\n4.20%\n\n\nSource: FactSet\n\n\n\n\n\n\n\n\nClick on the tickers for more about each company, including news, business profiles, price ratios and ratings.\nIn case you are wondering about AT&T Inc. $(T)$ -- known for its high dividend yield over the long term -- the company hasn't yet announced a dividend cut but said in March that as part of its plan to divest its WarnerMedia properties, it was going to \"resize \" the dividend, taking it down to a payout ratio of about 40% to 43% of free cash flow.\nWe don't have the figures to predict how high the slimmed-down company's dividend might be after AT&T's deals are completed, but the yield on the shares as of the close on July 13 was 7.36%, while its forward FCF yield was 11.79%. Ordinarily that would appear to be plenty of headroom to support the dividend. But it implies a payout ratio of 62%, which is much higher than the ratio of the current yield to the forward FCF yield.\nREITs\nFor a second screen of real estate investment trusts, we used funds from operations (FFO) instead of free cash flow. FFO adds depreciation on real estate to earnings and nets out gains or losses on the sale of property. Here are the 10 highest-yielding REITs in the S&P Composite 1500 with positive forward and trailing FFO \"headroom\" and no dividend cuts over the past three years, according to data provided by FactSet:\n\n\n\nREIT\nDividend yield\nForward FFO yield\nForward \"headroom\"\nTrailing FFO yield\nTrailing \"headroom\"\n\n\nOmega Healthcare Investors Inc. OHI\n7.27%\n9.08%\n1.81%\n8.93%\n1.65%\n\n\nLTC Properties Inc. LTC\n5.88%\n7.00%\n1.12%\n5.91%\n0.03%\n\n\nMedical Properties Trust Inc. MPW\n5.58%\n8.91%\n3.33%\n8.07%\n2.49%\n\n\nBrandywine Realty Trust BDN\n5.44%\n9.98%\n4.55%\n10.01%\n4.58%\n\n\nPhysicians Realty Trust DOC\n4.99%\n6.02%\n1.03%\n5.75%\n0.76%\n\n\nIndustrial Logistics Properties Trust\n4.97%\n7.10%\n2.14%\n7.00%\n2.03%\n\n\nGetty Realty Corp. GTY\n4.91%\n6.16%\n1.26%\n7.14%\n2.23%\n\n\nEasterly Government Properties Inc. DEA\n4.83%\n6.14%\n1.31%\n5.95%\n1.12%\n\n\nSL Green Realty Corp. SLG\n4.71%\n8.73%\n4.03%\n8.89%\n4.18%\n\n\nCareTrust REIT Inc. CTRE\n4.48%\n6.49%\n2.00%\n5.92%\n1.44%\n\n\nSource: FactSet\n\n\n\n\n\n\n\n\nAs always, you should do your own research before considering any stock for investment. For the REITs, it is especially important to consider a company's investment focus. Whether it is retail, office property, health-care property or another area, each has its own opportunities and challenges.","news_type":1},"isVote":1,"tweetType":1,"viewCount":487,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146812965,"gmtCreate":1626065663157,"gmtModify":1703752675704,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"In long run still will go to the moon [USD]&nbsp;[USD]&nbsp;","listText":"In long run still will go to the moon [USD]&nbsp;[USD]&nbsp;","text":"In long run still will go to the moon [USD] [USD]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/146812965","repostId":"1143980547","repostType":4,"repost":{"id":"1143980547","pubTimestamp":1626060038,"share":"https://ttm.financial/m/news/1143980547?lang=&edition=fundamental","pubTime":"2021-07-12 11:20","market":"us","language":"en","title":"Virgin Galactic And Irrational Exuberance","url":"https://stock-news.laohu8.com/highlight/detail?id=1143980547","media":"seekingalpha","summary":"Summary\n\nWe tried to determine what the financial performance of the company should be in order for ","content":"<p><b>Summary</b></p>\n<ul>\n <li>We tried to determine what the financial performance of the company should be in order for the current price to look fair.</li>\n <li>For the price to be fair, FCFF in 2022 should be $35 million and grow at CAGR of 350%. Revenue should be $110 billion by 2027.</li>\n <li>The current and expected market capacity does not allow the company to demonstrate such financial performance.</li>\n <li>In our opinion, the current price of Virgin Galactic can only be explained by irrational exuberance.</li>\n <li>The market can remain irrational longer than you can remain solvent, so we do not short, we only watch the company from the sideline.</li>\n</ul>\n<blockquote>\n The Markets Can Remain Irrational Longer Than You Can Remain Solvent. - John Maynard Keynes\n</blockquote>\n<p><b>Thesis</b></p>\n<p>Could a German fugitive who tried to cross the Jornada del Muerto in the dry season of 1670 imagine that a few hundred years later, next to his vulture-torn remains, an eccentric British billionaire would be paving the way into the world of space tourism? Hardly. Thanks to human genius and the free market, we are living in an amazing time. And do not underestimate the role of the latter.</p>\n<p>The financial industry is like a circulatory system for a market organism. Driven by human greed, it distributes resources from old established industries to the most promising sectors of the new economy. It was like this before, and so it is now. The reason why investors are ready to abandon investments in a profitable established company in favor of investments in a loss-making business in an unformed industry is quite understandable. We are ready to release the bird from our hands only if we expect that in the bush there will be not two birds, but 22. But our expectations must be justified. In our opinion, the current price of Virgin Galactic can only be explained by irrational exuberance.</p>\n<p><b>Valuation And Perspectives</b></p>\n<p>We usually evaluate a business based on the expected financial results that the company will be able to achieve in the future. With Virgin Galactic(NYSE:SPCE), we decided to go the opposite way. We tried to determine what the financial indicators of the company should be in order for the current price to look fair.</p>\n<p>The value of any asset is determined by the present value of its future cash flows. This is an axiom of finance that is often criticized by unsophisticated investors. Indeed, if your investment strategy is based on the hope that someone will definitely agree to pay more for an asset than you pay for it, then the value of the asset is not important. If your friend writes you a bill of exchange and there is a buyer who is always ready to pay for this bill above par, then solvency and interest are unlikely to worry you. However, if there is no such buyer, you will turn into a demanding lender who will carefully compare the interest on a bill of exchange with the value of money and include all possible risks in the interest rate. In other words, you will begin to discount the cash flow.</p>\n<p>The weighted average cost of capital for the SPCE is not difficult to determine. Today the company's assets are 56% financed by equity capital, and there is no debt burden. The company's balance sheet as at the last reporting date is presented below:</p>\n<p><img src=\"https://static.tigerbbs.com/a5fcadf6dbf15f58f33506c58d8ad7fa\" tg-width=\"640\" tg-height=\"459\"></p>\n<p>(Source:Company's IR)</p>\n<p>According to our calculation, the company's cost of capital is 9%. Given that Virgin has a low leverage, the weighted average cost of capital is also 9%.</p>\n<p><img src=\"https://static.tigerbbs.com/b9685bee425247505e9479e60a75ad72\" tg-width=\"640\" tg-height=\"242\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source: Created by the author)</p>\n<p>Thus, if Virgin Galactic's current market cap is fair, the company's free cash flow from 2022 to 2027 should look like this:</p>\n<p><img src=\"https://static.tigerbbs.com/af1919420bc286424d2f62152e2e14ca\" tg-width=\"640\" tg-height=\"388\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source: Created by the author)</p>\n<p>It is difficult to estimate the potential profitability of a business that does not yet exist. However, we can roughly define it. The company's cost of revenue includes costs related to rocket fuel consumption, salaries and benefits for pilots and ground crew, and maintenance. Virgin conducted its second test flight in February 2019. At the end of the first quarter of 2019, the company reflected in the reporting $1 million Cost of revenue, at the end of the first quarter of 2020, SPCE reflected $ 173 thousand in cost of revenue. According to the report, the change in cost of revenue is primarily due to the costs for flying payload in Q1 2019.</p>\n<p><img src=\"https://static.tigerbbs.com/befcd5a3926ada7aebead8314713d44c\" tg-width=\"640\" tg-height=\"227\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source:Company's IR)</p>\n<p>Thus, we can determine that the estimated cost of launching one spaceship is $800 thousand dollars. With a ticket price of $200,000, the expected revenue per flight will be $1,200,000. As with the airline business, Virgin's key costs are cost of revenue. If the company can achieve an LFCF margin of 10% (slightly better than that of the most marginal US airlines), then the dynamics of revenue should take the following form:</p>\n<p><img src=\"https://static.tigerbbs.com/58c6ee07b1a3cbcce384d7e62e90632c\" tg-width=\"640\" tg-height=\"389\"></p>\n<p>(Source: Created by the author)</p>\n<p>In an interview withCNBC, CEO Michael Colglazier said he expects each spaceport to generate $1 billion for the company. Thus, to justify the current price, the company needs to build 110 spaceports and sell 275 thousand tickets for 400 thousand dollars each (in the same interview, the CEO said that each spaceport will have 400 flights a year, that is, with a revenue of $1 billion, the price 1 ticket must be equal to $400 thousand). As a reminder,according to UBS, space tourism will be a $3 billion market by 2030. Thus, the current capitalization of the company cannot be explained by any reasonable expectations.</p>\n<p><b>Conclusion</b></p>\n<p>Virgin Galactic could be good business one day. However, in our opinion the current capitalization cannot be explained by any reasonable expectations. For the current estimate to be justified, the company needs to sell $ 110 billion worth of tickets by 2027. Which is impossible given the current and expected market capacity. However, we do not short because the company is attracting a lot of attention. As John Maynard Keynes said, the market can remain irrational longer than you can remain solvent. We will watch the company from the sideline.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Virgin Galactic And Irrational Exuberance</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\">\nVirgin Galactic And Irrational Exuberance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 11:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4438687-virgin-galactic-and-irrational-exuberance><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWe tried to determine what the financial performance of the company should be in order for the current price to look fair.\nFor the price to be fair, FCFF in 2022 should be $35 million and ...</p>\n\n<a href=\"https://seekingalpha.com/article/4438687-virgin-galactic-and-irrational-exuberance\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://seekingalpha.com/article/4438687-virgin-galactic-and-irrational-exuberance","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1143980547","content_text":"Summary\n\nWe tried to determine what the financial performance of the company should be in order for the current price to look fair.\nFor the price to be fair, FCFF in 2022 should be $35 million and grow at CAGR of 350%. Revenue should be $110 billion by 2027.\nThe current and expected market capacity does not allow the company to demonstrate such financial performance.\nIn our opinion, the current price of Virgin Galactic can only be explained by irrational exuberance.\nThe market can remain irrational longer than you can remain solvent, so we do not short, we only watch the company from the sideline.\n\n\n The Markets Can Remain Irrational Longer Than You Can Remain Solvent. - John Maynard Keynes\n\nThesis\nCould a German fugitive who tried to cross the Jornada del Muerto in the dry season of 1670 imagine that a few hundred years later, next to his vulture-torn remains, an eccentric British billionaire would be paving the way into the world of space tourism? Hardly. Thanks to human genius and the free market, we are living in an amazing time. And do not underestimate the role of the latter.\nThe financial industry is like a circulatory system for a market organism. Driven by human greed, it distributes resources from old established industries to the most promising sectors of the new economy. It was like this before, and so it is now. The reason why investors are ready to abandon investments in a profitable established company in favor of investments in a loss-making business in an unformed industry is quite understandable. We are ready to release the bird from our hands only if we expect that in the bush there will be not two birds, but 22. But our expectations must be justified. In our opinion, the current price of Virgin Galactic can only be explained by irrational exuberance.\nValuation And Perspectives\nWe usually evaluate a business based on the expected financial results that the company will be able to achieve in the future. With Virgin Galactic(NYSE:SPCE), we decided to go the opposite way. We tried to determine what the financial indicators of the company should be in order for the current price to look fair.\nThe value of any asset is determined by the present value of its future cash flows. This is an axiom of finance that is often criticized by unsophisticated investors. Indeed, if your investment strategy is based on the hope that someone will definitely agree to pay more for an asset than you pay for it, then the value of the asset is not important. If your friend writes you a bill of exchange and there is a buyer who is always ready to pay for this bill above par, then solvency and interest are unlikely to worry you. However, if there is no such buyer, you will turn into a demanding lender who will carefully compare the interest on a bill of exchange with the value of money and include all possible risks in the interest rate. In other words, you will begin to discount the cash flow.\nThe weighted average cost of capital for the SPCE is not difficult to determine. Today the company's assets are 56% financed by equity capital, and there is no debt burden. The company's balance sheet as at the last reporting date is presented below:\n\n(Source:Company's IR)\nAccording to our calculation, the company's cost of capital is 9%. Given that Virgin has a low leverage, the weighted average cost of capital is also 9%.\n\n(Source: Created by the author)\nThus, if Virgin Galactic's current market cap is fair, the company's free cash flow from 2022 to 2027 should look like this:\n\n(Source: Created by the author)\nIt is difficult to estimate the potential profitability of a business that does not yet exist. However, we can roughly define it. The company's cost of revenue includes costs related to rocket fuel consumption, salaries and benefits for pilots and ground crew, and maintenance. Virgin conducted its second test flight in February 2019. At the end of the first quarter of 2019, the company reflected in the reporting $1 million Cost of revenue, at the end of the first quarter of 2020, SPCE reflected $ 173 thousand in cost of revenue. According to the report, the change in cost of revenue is primarily due to the costs for flying payload in Q1 2019.\n\n(Source:Company's IR)\nThus, we can determine that the estimated cost of launching one spaceship is $800 thousand dollars. With a ticket price of $200,000, the expected revenue per flight will be $1,200,000. As with the airline business, Virgin's key costs are cost of revenue. If the company can achieve an LFCF margin of 10% (slightly better than that of the most marginal US airlines), then the dynamics of revenue should take the following form:\n\n(Source: Created by the author)\nIn an interview withCNBC, CEO Michael Colglazier said he expects each spaceport to generate $1 billion for the company. Thus, to justify the current price, the company needs to build 110 spaceports and sell 275 thousand tickets for 400 thousand dollars each (in the same interview, the CEO said that each spaceport will have 400 flights a year, that is, with a revenue of $1 billion, the price 1 ticket must be equal to $400 thousand). As a reminder,according to UBS, space tourism will be a $3 billion market by 2030. Thus, the current capitalization of the company cannot be explained by any reasonable expectations.\nConclusion\nVirgin Galactic could be good business one day. However, in our opinion the current capitalization cannot be explained by any reasonable expectations. For the current estimate to be justified, the company needs to sell $ 110 billion worth of tickets by 2027. Which is impossible given the current and expected market capacity. However, we do not short because the company is attracting a lot of attention. As John Maynard Keynes said, the market can remain irrational longer than you can remain solvent. We will watch the company from the sideline.","news_type":1},"isVote":1,"tweetType":1,"viewCount":614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148552747,"gmtCreate":1625993273189,"gmtModify":1703751752535,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Go go go. &nbsp;","listText":"Go go go. &nbsp;","text":"Go go go.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/148552747","repostId":"1185154176","repostType":4,"repost":{"id":"1185154176","pubTimestamp":1625886925,"share":"https://ttm.financial/m/news/1185154176?lang=&edition=fundamental","pubTime":"2021-07-10 11:15","market":"us","language":"en","title":"The bull market in stocks may last up to five years — here are six reasons why","url":"https://stock-news.laohu8.com/highlight/detail?id=1185154176","media":"marketwatch","summary":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support. When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit n","content":"<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p>\n<p>When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p>\n<p>It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p>\n<p>Here’s why.</p>\n<p>We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p>\n<p><b>1. There’s tremendous pent-up demand</b></p>\n<p>Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p>\n<p>First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p>\n<p>Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p>\n<p>Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p>\n<p>Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p>\n<p>Now let’s look at the pent-up demand in businesses.</p>\n<p>You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p>\n<p>Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p>\n<p><b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p>\n<p><b>2. An under-appreciated earnings boom lies ahead</b></p>\n<p>The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p>\n<p>Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p>\n<p>“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p>\n<p>Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p>\n<p><b>3. There’s a new Fed in town</b></p>\n<p>For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p>\n<p>Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p>\n<p><b>4. Inflation won’t kill the bull</b></p>\n<p>Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p>\n<p><b>5. Valuations will improve</b></p>\n<p>We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p>\n<p>This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p>\n<p>True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p>\n<p><b>6. Sentiment isn’t extreme</b></p>\n<p>As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p>\n<p><b>Three themes to follow</b></p>\n<p>If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p>\n<p><b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p>\n<p><b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p>\n<p><b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The bull market in stocks may last up to five years — here are six reasons why</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe bull market in stocks may last up to five years — here are six reasons why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 11:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday,...</p>\n\n<a href=\"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185154176","content_text":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.\nIt’s true that there could be a correction, given the already sizable 17% gain in the S&P 500 Index this year. But you should buy then, too.\nHere’s why.\nWe are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.\n1. There’s tremendous pent-up demand\nEveryone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.\nFirst, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.\nBehind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.\nRelatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.\nNext, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.\nNow let’s look at the pent-up demand in businesses.\nYou know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.\nCompanies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.\nThe bottom line: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.\n2. An under-appreciated earnings boom lies ahead\nThe economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.\nPaulsen expects 2021 S&P 500 earnings will be more like $220 instead of the consensus estimate of $190.\n“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”\nPlus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.\n3. There’s a new Fed in town\nFor much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).\nHere’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.\n4. Inflation won’t kill the bull\nInflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.\n5. Valuations will improve\nWe’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.\nThis will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.\nTrue to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000 small-cap index have traded sideways for two to four months. The S&P 500 and Nasdaq recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.\n6. Sentiment isn’t extreme\nAs a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.\nThree themes to follow\nIf we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.\nFavor cyclicals.Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.\nAvoid defensives.If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot in retail, B. Riley Financial,a markets and investment banking name, and Regional Management in consumer finance.\nFavor emerging markets.Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.","news_type":1},"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157065214,"gmtCreate":1625555026738,"gmtModify":1703743597889,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"[Cool]&nbsp;Is it worth the investment","listText":"[Cool]&nbsp;Is it worth the investment","text":"[Cool] Is it worth the investment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157065214","repostId":"1115843581","repostType":4,"repost":{"id":"1115843581","pubTimestamp":1625553210,"share":"https://ttm.financial/m/news/1115843581?lang=&edition=fundamental","pubTime":"2021-07-06 14:33","market":"us","language":"en","title":"These shipping stocks could benefit from severe disruptions in global supply chains","url":"https://stock-news.laohu8.com/highlight/detail?id=1115843581","media":"CNBC","summary":"Skyrocketing shipping prices, exacerbated by limited vessel supply, could bode well for some of anal","content":"<div>\n<p>Skyrocketing shipping prices, exacerbated by limited vessel supply, could bode well for some of analysts’ favorite shipping stocks.\nGlobal supply chains have been severely disrupted this year by a ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/06/these-stocks-could-benefit-from-severe-disruptions-in-global-supply-chains.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These shipping stocks could benefit from severe disruptions in global supply chains</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\">\nThese shipping stocks could benefit from severe disruptions in global supply chains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 14:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/06/these-stocks-could-benefit-from-severe-disruptions-in-global-supply-chains.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skyrocketing shipping prices, exacerbated by limited vessel supply, could bode well for some of analysts’ favorite shipping stocks.\nGlobal supply chains have been severely disrupted this year by a ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/06/these-stocks-could-benefit-from-severe-disruptions-in-global-supply-chains.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"601919":"中远海控","00316":"东方海外国际","GNK":"根科船务贸易","SBLK":"Star Bulk Carriers Corp"},"source_url":"https://www.cnbc.com/2021/07/06/these-stocks-could-benefit-from-severe-disruptions-in-global-supply-chains.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1115843581","content_text":"Skyrocketing shipping prices, exacerbated by limited vessel supply, could bode well for some of analysts’ favorite shipping stocks.\nGlobal supply chains have been severely disrupted this year by a slew of issues right as a resurgence in trade and strong demand for commodities meant more goods needed to be moved.\nIn April, one of the world’s largest container ships became wedged in the Suez Canal, halting traffic for nearly a week. The waterway is one of the busiest in the world, with about 12% of trade passing through it.\nThe massive cargo ship dominated headlines, but there have been several other disturbances in global trade. In a recent report, JPMorgan analysts pointed to ongoing bottlenecks such as port congestion as well as a shortage of containers and vessels.\n\"In particular, Yantian (Shenzhen) port's incident could potentially evolve into Suez Canal Incident 2.0, leading to shipment delays, longer container turnaround time and container shortage/repositioning issues,\" the bank wrote.\nThe Yantian port in Shenzhen, China is one of the busiest in the world. The region was hit by an uptick of Covid cases in June, whichcaused massive delays at the port, jacking up shipping prices.\nAs parts of the world rebounded from the pandemic, a flurry of spending led to a shortfall of containers. That drove up prices and created massive delays in shipping goods from Asia to elsewhere. JPMorgan said the demand for goods has continued to be supported by an improving global economic outlook.\nResearch firm TS Lombard noted that commodities have surged as Chinese demand recovered. Demand for commodities fromoil to lumber to corn has shot up this yearas economies reopened and vaccination rates climbed — although prices have been volatile recently.\n\"Shipowners are benefitting from the booming commodity trade. Vessel earnings have been at their highest level in a decade so far in 2021 … owing to the rebound in trade volumes, particular minerals and grains into Asia, as well as to strong restocking of iron-ore and coal inventories by China,\" the firm said.\nIt also said as much as 72% of the world's iron ore is transported to China, boosting the shipping sector.\nValue of ships will rise\nPort congestion means that ships will be temporarily held up, keeping vessel supply limited, TS Lombard said.\nAnd that may not be resolved any time soon. According to JPMorgan analysts, new vessel orders will not be delivered until 2023, \"at the earliest time frame.\"\nHigh demand and tight supply, will cause the value of ships to rise. Ships are considered assets for a shipping company, as they generate cash flow.\nThe uptick in the value of the vessels will therefore drive up the net asset value of companies, which is the value of assets minus liabilities. That in turn is set to drive up stock prices, according to TS Lombard.\nHere are the stock picks from both firms, in reports published in June:\nHere are JPMorgan's stock picks:\n\nChinese container shipping company Cosco Shipping\nHong Kong-based Orient Overseas, parent company of container shipping firm Orient Overseas Container Line\n\nHere are TS Lombard's stock picks:\n\nNasdaq-listed Star Bulk Carriers\nNorway-based Golden Ocean, a dry bulk shipping company\nNYSE- listed Genco Shipping\nAmerican shipping firm Eagle Bulk Shipping\nAthens-based Diana Shipping","news_type":1},"isVote":1,"tweetType":1,"viewCount":139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157068652,"gmtCreate":1625554789076,"gmtModify":1703743596576,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"When is a good time to buy&nbsp;didi","listText":"When is a good time to buy&nbsp;didi","text":"When is a good time to buy didi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/157068652","repostId":"2149466331","repostType":4,"isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574754838536636","authorId":"3574754838536636","name":"Ameliakoh","avatar":"https://static.tigerbbs.com/4a747ab791603fb0a649736b10ec7454","crmLevel":2,"crmLevelSwitch":0,"idStr":"3574754838536636","authorIdStr":"3574754838536636"},"content":"When you are ready ?","text":"When you are ready ?","html":"When you are ready ?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152605610,"gmtCreate":1625285268730,"gmtModify":1703739987908,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Indexes up but most of the shares are now. Is this the sign?","listText":"Indexes up but most of the shares are now. Is this the sign?","text":"Indexes up but most of the shares are now. Is this the sign?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/152605610","repostId":"1188153141","repostType":4,"repost":{"id":"1188153141","pubTimestamp":1625276221,"share":"https://ttm.financial/m/news/1188153141?lang=&edition=fundamental","pubTime":"2021-07-03 09:37","market":"us","language":"en","title":"Suze Orman worries about a market crash — here's what you should do","url":"https://stock-news.laohu8.com/highlight/detail?id=1188153141","media":"MoneyWise","summary":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for th","content":"<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p>\n<p>That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p>\n<p>And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p>\n<p>Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p>\n<p><b>What does Suze Orman think?</b></p>\n<p><img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p>\n<p>Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p>\n<p>“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p>\n<p>While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p>\n<p>And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p>\n<p>What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p>\n<p>“This reminds me of 2000 all over again,” Orman says.</p>\n<p><b>The Buffett Indicator</b></p>\n<p><img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p>\n<p>One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p>\n<p>But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p>\n<p>And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p>\n<p>How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p>\n<p>Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p>\n<p><b>1. Buy low</b></p>\n<p>Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p>\n<p>“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p>\n<p>She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p>\n<p>Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p>\n<p><b>2. Invest on a schedule</b></p>\n<p><img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p>\n<p>While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p>\n<p>She wants casual investors to not get caught up in the daily ups and downs of the market.</p>\n<p>In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p>\n<p>“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p>\n<p>She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p>\n<p>This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p>\n<p>There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p>\n<p><b>3. Diversify with fractional shares</b></p>\n<p>To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p>\n<p>Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p>\n<p>With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p>\n<p>“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p>\n<p>“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p>\n<p><b>What else you can do</b></p>\n<p><img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p>\n<p>Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p>\n<p>First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p>\n<p>Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p>\n<p>That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p>\n<p>If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p>\n<p>While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p>","source":"lsy1621813427262","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>Suze Orman worries about a market crash — here's what you should do</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\">\nSuze Orman worries about a market crash — here's what you should do\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-03 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html><strong>MoneyWise</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to ...</p>\n\n<a href=\"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188153141","content_text":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.\nAnd a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.\nHere’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.\nWhat does Suze Orman think?\nMediapunch/Shutterstock\nSuze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.\n“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”\nWhile investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.\nAnd even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.\nWhat's more, she feels it’s just been too long since the last crash to stay this high much longer.\n“This reminds me of 2000 all over again,” Orman says.\nThe Buffett Indicator\nLarry W Smith/EPA/Shutterstock\nOne metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.\nBut the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.\nAnd those in the know are wondering if it's a sign that we’re about to see a hard fall.\nHow to prepare for a crashFreedomz / Shutterstock\nOrman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.\n1. Buy low\nPart of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.\n“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”\nShe points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.\nBecause you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.\n2. Invest on a schedule\nkatjen / Shutterstock\nWhile she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.\nShe wants casual investors to not get caught up in the daily ups and downs of the market.\nIn fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.\n“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”\nShe suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.\nThis kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.\nThere are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.\n3. Diversify with fractional shares\nTo help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.\nOrman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.\nWith the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.\n“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”\n“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”\nWhat else you can do\ngoodluz / Shutterstock\nWhether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.\nFirst, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.\nThen, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.\nThat will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.\nIf you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.\nWhile everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.","news_type":1},"isVote":1,"tweetType":1,"viewCount":92,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158335126,"gmtCreate":1625128613565,"gmtModify":1703736699264,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Is this the&nbsp;Over priced donut?","listText":"Is this the&nbsp;Over priced donut?","text":"Is this the Over priced donut?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/158335126","repostId":"1111109140","repostType":4,"repost":{"id":"1111109140","pubTimestamp":1625127764,"share":"https://ttm.financial/m/news/1111109140?lang=&edition=fundamental","pubTime":"2021-07-01 16:22","market":"us","language":"en","title":"Krispy Kreme: Dough-Not Buy This Overpriced IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1111109140","media":"seekingalpha","summary":"Summary\n\nKrispy Kreme, Inc. ’s expected valuation of $3.6 billion is overpriced and leaves little up","content":"<p><b>Summary</b></p>\n<ul>\n <li><a href=\"https://laohu8.com/S/DNUT\">Krispy Kreme, Inc.</a> ’s expected valuation of $3.6 billion is overpriced and leaves little upside for investors.</li>\n <li>We think the stock is worth no more than $1.6 billion, which is slightly higher than the $1.35 billion JAB Holdings paid to take Krispy Kreme private in 2016.</li>\n <li>A $3.6 billion valuation implies Krispy Kreme will reverse its profit nosedive and grow profits by nearly 700%.</li>\n</ul>\n<p>Krispy Kreme Doughnuts Inc. (DNUT) is expected to go public for the second time on July 1, 2021. At the midpoint of its IPO price range ($22.50 per share), Krispy Kreme is valued at roughly $3.6 billion and earns ourUnattractiverating.</p>\n<p>Krispy Kreme's expected valuation of $3.6 billion is overpriced and leaves little upside for investors who may be looking to add this stock to their portfolios.</p>\n<p>We think the stock is worth no more than $1.6 billion, which is slightly higher than the $1.35 billion JAB Holdings paid to take Krispy Kreme private in 2016. With this IPO, we believe JAB Holdings is looking to cash out at the expense of new investors.</p>\n<p>A $3.6 billion valuation implies Krispy Kreme will reverse its profit nosedive, grow profits by nearly 700% and make more money than quick-service restaurant (\"QSR\") industry incumbents like The Wendy's Company (WEN). Such a scenario looks unlikely given the shift in consumer preferences toward healthier foods and the failure of its past growth strategy to achieve the economies of scale needed to operate profitably.</p>\n<p><b>JAB Holdings Turned Profits into Losses</b></p>\n<p>Krispy Kreme, with its own stores, retail distribution, and e-commerce delivery, operates a similar business model to Starbucks (SBUX) and Dunkin' Brands (DNKN). However, its profits aren't trending higher, despite robust growth in delivery sales driving 17% year-over-year (YoY) growth in revenue in 2020.</p>\n<p>Instead, it appears that JAB Holdings took a once profitable business (Krispy Kreme traded under ticker KKD prior to 2016) private, focused on top-line growth, and ignored profitability. Per Figure 1,Core Earnings[1] grew from -$17 million in 2006 to $37 million in 2015. With the data from Krispy Kreme's new S-1, we see that Core Earnings declined from -$5 million in 2019 to -$33 million in 2020. In 2015, prior to being acquired, Krispy Kreme earned a 7% return on invested capital (ROIC), which has since declined from 3% in 2019 to 1.8% in 2020.</p>\n<p><b>Figure 1: Krispy Kreme Revenue and Core Earnings: Before and After JAB Holdings Acquisition</b><img src=\"https://static.tigerbbs.com/359a4ebe4c5d8695100ccf91eac2e58a\" tg-width=\"630\" tg-height=\"265\" referrerpolicy=\"no-referrer\"></p>\n<p>Sources: New Constructs, LLC and company filings</p>\n<p><b>Small Share Of a Large Market</b></p>\n<p>Krispy Kreme defines its business as a \"sweet treat retailer.\" However, more broadly, the firm operates in the QSR industry. In 2020, the QSR industrygenerated $610 billionin worldwide revenue. Such a large total addressable market, along with an industrywideprojected5% compound annual revenue growth rate through 2026, may have new investors excited about this IPO.</p>\n<p>However, the growing demand for quick food and beverages doesn't mean all QSR firms are on equal footing. With 2020 estimated system wide sales of $1.2 billion[2], Krispy Kreme held only 0.2% market share in 2020, which trails key competitors such as McDonald's (15.3%) and Starbucks (6.5%).</p>\n<p>With little product differentiation, it is unlikely that Krispy Kreme will be able to take market share from larger competitors, especially if cash-rich firms likeMcDonald's(MCD) decide to compete more directly with Krispy Kreme by introducing more bakery and breakfast items (as they recently did inOctober 2020).</p>\n<p><b>Figure 2: Krispy Kreme: Minimal Market Share Amongst QSR Peers (2020)</b></p>\n<p><img src=\"https://static.tigerbbs.com/daa1179cc41a3213d21cc10cde27ea91\" tg-width=\"630\" tg-height=\"195\" referrerpolicy=\"no-referrer\"></p>\n<p>Sources: New Constructs, LLC and company filings*</p>\n<p>Estimate assumes Starbucks licensed locations generate an average of $1.2 million in sales, which equals the average sale of all company-operated stores in 2020** Estimate assumes Krispy Kreme franchised locations generate an average of $156k in sales, which equals the average sales of all company owned global points of access in 2020*** Global QSR sales in2020.</p>\n<p><b>Consumers Want Healthier Options</b></p>\n<p>While the entire QSR industry is large, the world is undergoing a fundamental shift in preference toward healthy, sustainable foods and away from Krispy Kreme's high-fat and sugar-filled menu.</p>\n<p>A 2015surveyby Nielsen found that 49% of global respondents felt they were overweight, 50% said they were trying to lose weight, and 62% of those changing their diet to lose weight said that they were cutting down on sugar. More recently, a 2019surveyby The International Food Information Council Foundation found that 75% of respondents say they are eating healthier now than they were 10 years ago and that consumers are more wary of consuming sugar than any other type of food.</p>\n<p>Krispy Kreme, whose staple menu item is its sugary glazed doughnut, has reason to be concerned about the change in consumer preferences. CNBCreportsthat 42% of American adults gained unwanted weight during the pandemic, which could hurt Krispy Kreme, as well as the rest of the QSR industry, during a time when consumer activity is returning to pre-pandemic levels.</p>\n<p><b>Poor Profitability Makes Taking Market Share Even Less Likely</b></p>\n<p>Krispy Kreme's self-proclaimed \"globally recognized brand with rich history\" has not led to a more efficient business than its QSR competitors. Figure 2 shows that Krispy Kreme's profitability, net operating profit after-tax (NOPAT) margin, and ROIC rank below its QSR peers. The company's balance sheet efficiency (invested capital turns) also ranks near the bottom of the group.</p>\n<p><b>Figure 3: Krispy Kreme's Profitability Vs. Competition: TTM</b></p>\n<p><img src=\"https://static.tigerbbs.com/c027840aae65d5e52971d132be39555d\" tg-width=\"630\" tg-height=\"161\" referrerpolicy=\"no-referrer\"></p>\n<p>Sources: New Constructs, LLC and company filings</p>\n<p><b>Growth Strategy Hasn't Improved Efficiency</b></p>\n<p>Since being taken private in 2016, Krispy Kreme has focused on growing sales and \"global points of access\", or all locations at which Krispy Kreme doughnuts or cookies could be purchased. If top-line growth and scale are all that matter, one could argue Krispy Kreme's strategy has succeeded. Krispy Kreme has grown global points of access from 5,926 in 2018 to 9,077 in fiscal 1Q21.</p>\n<p>However, this growth strategy appears to be more of a \"grow-at-all-costs\" strategy and hasn't come with the economies of scale necessary to lead the firm to sustainable profitability. Expenses, which include product and distribution costs, operating expense, selling, general, and administrative expense, pre-opening costs, other expenses, and depreciation and amortization expense, increased from 95.6% of revenue in 2018 to 99.6% of revenue in 2020. In fiscal 1Q21, expenses remain 95.7% of revenue.</p>\n<p><b>Figure 4: Krispy Kreme's Expenses as % of Revenue: 2018-1Q21</b><img src=\"https://static.tigerbbs.com/73a005d9d08c11460be70fff99b2c36f\" tg-width=\"630\" tg-height=\"283\" referrerpolicy=\"no-referrer\"></p>\n<p>Sources: New Constructs, LLC and company filings</p>\n<p>With no profits to show for this growth strategy, JAB Holding Company, the firm that took Krispy Kreme private in 2016, is now looking to offload risk and paydown debt via the IPO.</p>\n<p><b>Limited Stupid Money Acquisition Risk</b></p>\n<p>Given the fact that Krispy Kreme was already taken private in 2016, it would seem unlikely another acquirer would jump in now that the firm is looking at another IPO. Any potential acquirer could have negotiated a deal directly with JAB Holding Company, rather than paying a public market premium and dealing with new shareholder approval.</p>\n<p><b>Priced to be More Profitable Than Wendy's</b></p>\n<p>Below we use our reverse discounted cash flow (\"DCF\") model to analyze the future cash flow expectations baked into the midpoint of Krispy Kreme's IPO price range. Risk/reward at the midpoint IPO price is unattractive.</p>\n<p>In order to justify the midpoint IPO price of $22.50/share, Krispy Kreme must:</p>\n<ul>\n <li>achieve an 8% NOPAT margin (equal to 2019, compared to 4% in 2020, and below more profitable peers in Figure 3, which benefit from a more franchise-based business model) and</li>\n <li>grow revenue by 13% compounded annually through 2030, which is nearly 3x theprojectedindustry growth rate through 2026</li>\n</ul>\n<p>In thisscenario, Krispy Kreme would generate $3.9 billion in revenue in 2030, which is nearly 3.5x its 2020 revenue and more than double Wendy's 2020 revenue. At $3.9 billion in sales, Krispy Kreme's implied market share would double from 0.2% in 2020 to 0.4% in 2030[3]. Additionally, Krispy Kreme would generate $326 million in NOPAT in 2030, which is nearly 7x its 2020 NOPAT and 116% of Wendy's 2020 NOPAT.</p>\n<p><b>DCF Scenario 2: Growth Is More In-Line with Industry Expectations</b></p>\n<p>We review an additional DCF scenario to highlight the downside risk should Krispy Kreme's revenue growth fall more in-line with industry expectations.</p>\n<p>If we assume Krispy Kreme:</p>\n<ul>\n <li>achieves pre-pandemic NOPAT margin of 8% and</li>\n <li>grows revenue by 10% compounded annually from 2021-2025 (double projected industry growth rates through 2026) and</li>\n <li>grows revenue 5% compounded annually from 2026-2030 (equal to projected industry growth rates through 2026), then</li>\n</ul>\n<p>DNUT is worth just $10/share today - a 56% downside to the midpoint IPO price range.See the math behind this reverse DCF scenario.</p>\n<p>Figure 5 compares the firm's implied future NOPAT in these two scenarios to its historical NOPAT, along with the NOPAT of Wendy's.</p>\n<p><b>Figure 5: IPO Valuation Is Too High</b><img src=\"https://static.tigerbbs.com/68b6e4ba401026b15e24b7a3a89318b0\" tg-width=\"630\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n<p>Sources: New Constructs, LLC and company filings</p>\n<p>Each of the above scenarios also assumes Krispy Kreme grows revenue, NOPAT, and FCF without increasing working capital or fixed assets. This assumption is highly unlikely but allows us to create best-case scenarios that demonstrate the level of expectations embedded in the current valuation. For reference, Krispy Kreme's invested capital increased $32 million (3% of revenue) YoY in 2020. If we assume Krispy Kreme's invested capital increased at a similar rate in DCF scenario 2 above, the downside risk is even larger.</p>\n<p><b>Red Flags Investors Need To Know About</b></p>\n<p>With a lofty valuation that implies significant improvement in both revenue and profits, investors should be aware that Krispy Kreme's S-1 also includes these other red flags.</p>\n<p><b>Your Vote Is Overruled</b>. While Krispy Kreme is foregoing the common IPO practice of issuing multiple share classes of its common stock, private investors will still maintain control over the company. Upon completion of the IPO, new investors will hold 16.6% of the voting power, while existing owners will continue to own 83.4% of the voting power in the firm. JAB Holding Company alone will \"beneficially own\" 77.6% of the voting power in Krispy Kreme.</p>\n<p>In other words, despite new investors paying a premium to buy the IPO, Krispy Kreme's existing owners will continue to control the company, and new shareholders have no control over corporate governance.</p>\n<p><b>If At First You Don't Succeed, Try Again:</b>Krispy Kreme originally went public in 2000 and operated as a public entity until mid-2016, when the firm was taken private by JAB Holding Company for $1.4 billion. At the time, Krispy Kreme's fiscal 2015 Core Earnings were $37 million. Five years later, Krispy Kreme's Core Earnings have fallen to -$33 million.</p>\n<p>In other words, JAB Holdings wants to sell Krispy Kreme for 3x what they paid, despite profits falling from $37 million to -$33 million. We see this IPO as a means for JAB Holdings to cash out and transfer risk instead of a great opportunity for new investors. Only in the current market would we expect to see private equity investors attempt to generate out-sized gains after making a business worse.</p>\n<p><b>Adjusted EBITDA Distorts Earnings</b></p>\n<p>Many unprofitable companies present non-GAAP metrics to appear more profitable than they really are, and Krispy Kreme is no different, Krispy Kreme presents the popularAdjusted EBITDAmetric as a key performance indicator. Not surprisingly, Adjusted EBITDA gives a more bullish picture of the firm's business than GAAP net income and our Core Earnings.</p>\n<p>For instance, Krispy Kreme's 2020 adjusted EBITDA removes $21 million in \"strategic initiatives\" costs, $13 million in acquisition and integration expenses, and $12 million in share-based compensation. After removing all items, Krispy Kreme reports adjusted EBITDA of $145 million in 2020. Meanwhile,economic earnings, the true cash flows of the business, are significantly lower at -$91 million. While Krispy Kreme's adjusted EBITDA follows the same trend in economic earnings over the past two years, investors need to be aware that there is always a risk that adjusted EBITA could be used to manipulate earnings going forward.</p>\n<p><b>We Don't Know If We Can Trust the Financials:</b>The SEC does not require Krispy Kreme to have an independent auditor provide an opinion on internal controls until its second annual filing following its IPO. Krispy Kreme discloses in its S-1 that it has not yet conducted a review of its internal controls for the purpose of providing the reports required under SEC rules.</p>\n<p>Since the company's internal controls have not been audited by an independent third party, it cannot be guaranteed that the company's financial statements or internal calculations are accurate.</p>\n<p><b>Critical Details Found in Financial Filings By OurRobo-Analyst Technology</b></p>\n<p>Below are specifics on the adjustments we make based on Robo-Analyst findings in Krispy Kreme's S-1:</p>\n<p>Income Statement: we made $125 million in adjustments, with a net effect of removing $113 million in non-operating expense (10% of revenue). You can see all the adjustments made to Krispy Kreme's income statementhere.</p>\n<p>Balance Sheet: we made $226 million in adjustments to calculate invested capital with a net increase of $225 million. The most notable adjustment was $73 million in operating leases. This adjustment represented 3% of reported net assets. You can see all the adjustments made to Krispy Kreme's balance sheethere.</p>\n<p>Valuation: we made $2 billion in adjustments, all of which decreased shareholder value. Apart from total debt, the largest adjustment to shareholder value was $164 million in minority interests. This adjustment represents 4% of Krispy Kreme's valuation at the midpoint of its IPO price range. You can see all the adjustments made to Krispy Kreme's valuationhere.</p>\n<p><i>This article originally published on June 25, 2021.</i></p>\n<p><i>Disclosure: David Trainer, Kyle Guske II, Alex Sword, and Matt Shuler receive no compensation to write about any specific stock, style, or theme.</i></p>\n<p>[1] Only Core Earnings enable investors to overcome the flaws in legacy fundamental research, as proven inThe Journal of Financial Economics.</p>\n<p>[2] Estimate assumes Krispy Kreme franchise locations generate an average of $156k in sales, which equals the average sales of all company owned global points of access in 2020</p>\n<p>[3] Implied market share assumes the QSR industry grows 5% compounded annually from 2021-2026,as projectedby Market Data Forecast, and then that 5% CAGR continues from 2027-2030.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Krispy Kreme: Dough-Not Buy This Overpriced IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKrispy Kreme: Dough-Not Buy This Overpriced IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-01 16:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4437292-dough-not-buy-krispy-kremes-overpriced-ipo-dnut><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nKrispy Kreme, Inc. ’s expected valuation of $3.6 billion is overpriced and leaves little upside for investors.\nWe think the stock is worth no more than $1.6 billion, which is slightly higher ...</p>\n\n<a href=\"https://seekingalpha.com/article/4437292-dough-not-buy-krispy-kremes-overpriced-ipo-dnut\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DNUT":"Krispy Kreme, Inc."},"source_url":"https://seekingalpha.com/article/4437292-dough-not-buy-krispy-kremes-overpriced-ipo-dnut","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1111109140","content_text":"Summary\n\nKrispy Kreme, Inc. ’s expected valuation of $3.6 billion is overpriced and leaves little upside for investors.\nWe think the stock is worth no more than $1.6 billion, which is slightly higher than the $1.35 billion JAB Holdings paid to take Krispy Kreme private in 2016.\nA $3.6 billion valuation implies Krispy Kreme will reverse its profit nosedive and grow profits by nearly 700%.\n\nKrispy Kreme Doughnuts Inc. (DNUT) is expected to go public for the second time on July 1, 2021. At the midpoint of its IPO price range ($22.50 per share), Krispy Kreme is valued at roughly $3.6 billion and earns ourUnattractiverating.\nKrispy Kreme's expected valuation of $3.6 billion is overpriced and leaves little upside for investors who may be looking to add this stock to their portfolios.\nWe think the stock is worth no more than $1.6 billion, which is slightly higher than the $1.35 billion JAB Holdings paid to take Krispy Kreme private in 2016. With this IPO, we believe JAB Holdings is looking to cash out at the expense of new investors.\nA $3.6 billion valuation implies Krispy Kreme will reverse its profit nosedive, grow profits by nearly 700% and make more money than quick-service restaurant (\"QSR\") industry incumbents like The Wendy's Company (WEN). Such a scenario looks unlikely given the shift in consumer preferences toward healthier foods and the failure of its past growth strategy to achieve the economies of scale needed to operate profitably.\nJAB Holdings Turned Profits into Losses\nKrispy Kreme, with its own stores, retail distribution, and e-commerce delivery, operates a similar business model to Starbucks (SBUX) and Dunkin' Brands (DNKN). However, its profits aren't trending higher, despite robust growth in delivery sales driving 17% year-over-year (YoY) growth in revenue in 2020.\nInstead, it appears that JAB Holdings took a once profitable business (Krispy Kreme traded under ticker KKD prior to 2016) private, focused on top-line growth, and ignored profitability. Per Figure 1,Core Earnings[1] grew from -$17 million in 2006 to $37 million in 2015. With the data from Krispy Kreme's new S-1, we see that Core Earnings declined from -$5 million in 2019 to -$33 million in 2020. In 2015, prior to being acquired, Krispy Kreme earned a 7% return on invested capital (ROIC), which has since declined from 3% in 2019 to 1.8% in 2020.\nFigure 1: Krispy Kreme Revenue and Core Earnings: Before and After JAB Holdings Acquisition\nSources: New Constructs, LLC and company filings\nSmall Share Of a Large Market\nKrispy Kreme defines its business as a \"sweet treat retailer.\" However, more broadly, the firm operates in the QSR industry. In 2020, the QSR industrygenerated $610 billionin worldwide revenue. Such a large total addressable market, along with an industrywideprojected5% compound annual revenue growth rate through 2026, may have new investors excited about this IPO.\nHowever, the growing demand for quick food and beverages doesn't mean all QSR firms are on equal footing. With 2020 estimated system wide sales of $1.2 billion[2], Krispy Kreme held only 0.2% market share in 2020, which trails key competitors such as McDonald's (15.3%) and Starbucks (6.5%).\nWith little product differentiation, it is unlikely that Krispy Kreme will be able to take market share from larger competitors, especially if cash-rich firms likeMcDonald's(MCD) decide to compete more directly with Krispy Kreme by introducing more bakery and breakfast items (as they recently did inOctober 2020).\nFigure 2: Krispy Kreme: Minimal Market Share Amongst QSR Peers (2020)\n\nSources: New Constructs, LLC and company filings*\nEstimate assumes Starbucks licensed locations generate an average of $1.2 million in sales, which equals the average sale of all company-operated stores in 2020** Estimate assumes Krispy Kreme franchised locations generate an average of $156k in sales, which equals the average sales of all company owned global points of access in 2020*** Global QSR sales in2020.\nConsumers Want Healthier Options\nWhile the entire QSR industry is large, the world is undergoing a fundamental shift in preference toward healthy, sustainable foods and away from Krispy Kreme's high-fat and sugar-filled menu.\nA 2015surveyby Nielsen found that 49% of global respondents felt they were overweight, 50% said they were trying to lose weight, and 62% of those changing their diet to lose weight said that they were cutting down on sugar. More recently, a 2019surveyby The International Food Information Council Foundation found that 75% of respondents say they are eating healthier now than they were 10 years ago and that consumers are more wary of consuming sugar than any other type of food.\nKrispy Kreme, whose staple menu item is its sugary glazed doughnut, has reason to be concerned about the change in consumer preferences. CNBCreportsthat 42% of American adults gained unwanted weight during the pandemic, which could hurt Krispy Kreme, as well as the rest of the QSR industry, during a time when consumer activity is returning to pre-pandemic levels.\nPoor Profitability Makes Taking Market Share Even Less Likely\nKrispy Kreme's self-proclaimed \"globally recognized brand with rich history\" has not led to a more efficient business than its QSR competitors. Figure 2 shows that Krispy Kreme's profitability, net operating profit after-tax (NOPAT) margin, and ROIC rank below its QSR peers. The company's balance sheet efficiency (invested capital turns) also ranks near the bottom of the group.\nFigure 3: Krispy Kreme's Profitability Vs. Competition: TTM\n\nSources: New Constructs, LLC and company filings\nGrowth Strategy Hasn't Improved Efficiency\nSince being taken private in 2016, Krispy Kreme has focused on growing sales and \"global points of access\", or all locations at which Krispy Kreme doughnuts or cookies could be purchased. If top-line growth and scale are all that matter, one could argue Krispy Kreme's strategy has succeeded. Krispy Kreme has grown global points of access from 5,926 in 2018 to 9,077 in fiscal 1Q21.\nHowever, this growth strategy appears to be more of a \"grow-at-all-costs\" strategy and hasn't come with the economies of scale necessary to lead the firm to sustainable profitability. Expenses, which include product and distribution costs, operating expense, selling, general, and administrative expense, pre-opening costs, other expenses, and depreciation and amortization expense, increased from 95.6% of revenue in 2018 to 99.6% of revenue in 2020. In fiscal 1Q21, expenses remain 95.7% of revenue.\nFigure 4: Krispy Kreme's Expenses as % of Revenue: 2018-1Q21\nSources: New Constructs, LLC and company filings\nWith no profits to show for this growth strategy, JAB Holding Company, the firm that took Krispy Kreme private in 2016, is now looking to offload risk and paydown debt via the IPO.\nLimited Stupid Money Acquisition Risk\nGiven the fact that Krispy Kreme was already taken private in 2016, it would seem unlikely another acquirer would jump in now that the firm is looking at another IPO. Any potential acquirer could have negotiated a deal directly with JAB Holding Company, rather than paying a public market premium and dealing with new shareholder approval.\nPriced to be More Profitable Than Wendy's\nBelow we use our reverse discounted cash flow (\"DCF\") model to analyze the future cash flow expectations baked into the midpoint of Krispy Kreme's IPO price range. Risk/reward at the midpoint IPO price is unattractive.\nIn order to justify the midpoint IPO price of $22.50/share, Krispy Kreme must:\n\nachieve an 8% NOPAT margin (equal to 2019, compared to 4% in 2020, and below more profitable peers in Figure 3, which benefit from a more franchise-based business model) and\ngrow revenue by 13% compounded annually through 2030, which is nearly 3x theprojectedindustry growth rate through 2026\n\nIn thisscenario, Krispy Kreme would generate $3.9 billion in revenue in 2030, which is nearly 3.5x its 2020 revenue and more than double Wendy's 2020 revenue. At $3.9 billion in sales, Krispy Kreme's implied market share would double from 0.2% in 2020 to 0.4% in 2030[3]. Additionally, Krispy Kreme would generate $326 million in NOPAT in 2030, which is nearly 7x its 2020 NOPAT and 116% of Wendy's 2020 NOPAT.\nDCF Scenario 2: Growth Is More In-Line with Industry Expectations\nWe review an additional DCF scenario to highlight the downside risk should Krispy Kreme's revenue growth fall more in-line with industry expectations.\nIf we assume Krispy Kreme:\n\nachieves pre-pandemic NOPAT margin of 8% and\ngrows revenue by 10% compounded annually from 2021-2025 (double projected industry growth rates through 2026) and\ngrows revenue 5% compounded annually from 2026-2030 (equal to projected industry growth rates through 2026), then\n\nDNUT is worth just $10/share today - a 56% downside to the midpoint IPO price range.See the math behind this reverse DCF scenario.\nFigure 5 compares the firm's implied future NOPAT in these two scenarios to its historical NOPAT, along with the NOPAT of Wendy's.\nFigure 5: IPO Valuation Is Too High\nSources: New Constructs, LLC and company filings\nEach of the above scenarios also assumes Krispy Kreme grows revenue, NOPAT, and FCF without increasing working capital or fixed assets. This assumption is highly unlikely but allows us to create best-case scenarios that demonstrate the level of expectations embedded in the current valuation. For reference, Krispy Kreme's invested capital increased $32 million (3% of revenue) YoY in 2020. If we assume Krispy Kreme's invested capital increased at a similar rate in DCF scenario 2 above, the downside risk is even larger.\nRed Flags Investors Need To Know About\nWith a lofty valuation that implies significant improvement in both revenue and profits, investors should be aware that Krispy Kreme's S-1 also includes these other red flags.\nYour Vote Is Overruled. While Krispy Kreme is foregoing the common IPO practice of issuing multiple share classes of its common stock, private investors will still maintain control over the company. Upon completion of the IPO, new investors will hold 16.6% of the voting power, while existing owners will continue to own 83.4% of the voting power in the firm. JAB Holding Company alone will \"beneficially own\" 77.6% of the voting power in Krispy Kreme.\nIn other words, despite new investors paying a premium to buy the IPO, Krispy Kreme's existing owners will continue to control the company, and new shareholders have no control over corporate governance.\nIf At First You Don't Succeed, Try Again:Krispy Kreme originally went public in 2000 and operated as a public entity until mid-2016, when the firm was taken private by JAB Holding Company for $1.4 billion. At the time, Krispy Kreme's fiscal 2015 Core Earnings were $37 million. Five years later, Krispy Kreme's Core Earnings have fallen to -$33 million.\nIn other words, JAB Holdings wants to sell Krispy Kreme for 3x what they paid, despite profits falling from $37 million to -$33 million. We see this IPO as a means for JAB Holdings to cash out and transfer risk instead of a great opportunity for new investors. Only in the current market would we expect to see private equity investors attempt to generate out-sized gains after making a business worse.\nAdjusted EBITDA Distorts Earnings\nMany unprofitable companies present non-GAAP metrics to appear more profitable than they really are, and Krispy Kreme is no different, Krispy Kreme presents the popularAdjusted EBITDAmetric as a key performance indicator. Not surprisingly, Adjusted EBITDA gives a more bullish picture of the firm's business than GAAP net income and our Core Earnings.\nFor instance, Krispy Kreme's 2020 adjusted EBITDA removes $21 million in \"strategic initiatives\" costs, $13 million in acquisition and integration expenses, and $12 million in share-based compensation. After removing all items, Krispy Kreme reports adjusted EBITDA of $145 million in 2020. Meanwhile,economic earnings, the true cash flows of the business, are significantly lower at -$91 million. While Krispy Kreme's adjusted EBITDA follows the same trend in economic earnings over the past two years, investors need to be aware that there is always a risk that adjusted EBITA could be used to manipulate earnings going forward.\nWe Don't Know If We Can Trust the Financials:The SEC does not require Krispy Kreme to have an independent auditor provide an opinion on internal controls until its second annual filing following its IPO. Krispy Kreme discloses in its S-1 that it has not yet conducted a review of its internal controls for the purpose of providing the reports required under SEC rules.\nSince the company's internal controls have not been audited by an independent third party, it cannot be guaranteed that the company's financial statements or internal calculations are accurate.\nCritical Details Found in Financial Filings By OurRobo-Analyst Technology\nBelow are specifics on the adjustments we make based on Robo-Analyst findings in Krispy Kreme's S-1:\nIncome Statement: we made $125 million in adjustments, with a net effect of removing $113 million in non-operating expense (10% of revenue). You can see all the adjustments made to Krispy Kreme's income statementhere.\nBalance Sheet: we made $226 million in adjustments to calculate invested capital with a net increase of $225 million. The most notable adjustment was $73 million in operating leases. This adjustment represented 3% of reported net assets. You can see all the adjustments made to Krispy Kreme's balance sheethere.\nValuation: we made $2 billion in adjustments, all of which decreased shareholder value. Apart from total debt, the largest adjustment to shareholder value was $164 million in minority interests. This adjustment represents 4% of Krispy Kreme's valuation at the midpoint of its IPO price range. You can see all the adjustments made to Krispy Kreme's valuationhere.\nThis article originally published on June 25, 2021.\nDisclosure: David Trainer, Kyle Guske II, Alex Sword, and Matt Shuler receive no compensation to write about any specific stock, style, or theme.\n[1] Only Core Earnings enable investors to overcome the flaws in legacy fundamental research, as proven inThe Journal of Financial Economics.\n[2] Estimate assumes Krispy Kreme franchise locations generate an average of $156k in sales, which equals the average sales of all company owned global points of access in 2020\n[3] Implied market share assumes the QSR industry grows 5% compounded annually from 2021-2026,as projectedby Market Data Forecast, and then that 5% CAGR continues from 2027-2030.","news_type":1},"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124444469,"gmtCreate":1624785800551,"gmtModify":1703845141027,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Will nio be the better bet?","listText":"Will nio be the better bet?","text":"Will nio be the better bet?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/124444469","repostId":"1137119316","repostType":4,"repost":{"id":"1137119316","pubTimestamp":1624754401,"share":"https://ttm.financial/m/news/1137119316?lang=&edition=fundamental","pubTime":"2021-06-27 08:40","market":"us","language":"en","title":"Ford Or NIO? The Final Verdict","url":"https://stock-news.laohu8.com/highlight/detail?id=1137119316","media":"seekingalpha","summary":"I am comparing Ford against NIO in different categories.The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.NIO is growing a lot faster than Ford and the high valuation may be justified.With Ford  launching a major offensive in the market for electric vehicles, Chinese EV maker NIO  will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based ","content":"<p><b>Summary</b></p>\n<ul>\n <li>I am comparing Ford against NIO in different categories.</li>\n <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>\n <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p>\n<p>With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p>\n<p><b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p>\n<p>Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p>\n<p><b>Market opportunity</b></p>\n<p>In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p>\n<p>China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p>\n<p>Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p>\n<p>Turning to growth projections.</p>\n<p>With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p>\n<p>Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p>\n<p><b>Scale and manufacturing competence</b></p>\n<p>Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p>\n<p>Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p>\n<p>Winner here: Ford.</p>\n<p><b>Differentiation and BaaS revenue model</b></p>\n<p>Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p>\n<p>Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p>\n<p>The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p>\n<p>The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p>\n<p>Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p>\n<p>Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p>\n<p>The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p>\n<p><b>Sales growth and valuation</b></p>\n<p>Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p>\n<p>Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p>\n<p>The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p>\n<p>Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p>\n<p><b>NIO has larger risks...</b></p>\n<p>NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p>\n<p><b>Final verdict</b></p>\n<p>NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p>\n<p>Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p>\n<p>If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</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>Ford Or NIO? 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The Final Verdict\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-27 08:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nI am comparing Ford against NIO in different categories.\nThe comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"F":"福特汽车","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137119316","content_text":"Summary\n\nI am comparing Ford against NIO in different categories.\nThe comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.\nNIO is growing a lot faster than Ford and the high valuation may be justified.\n\npeterschreiber.media/iStock via Getty Images\nWith Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.\nFord vs. NIO: The battle for the global electric vehicle market is heating up\nAlthough there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing $30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.\nMarket opportunity\nIn 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.\n(Source: Wikipedia)\nChina, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is on the cusp of entering the European market in a bid to grow market share in the world’s second-largest EV market before the competition is ready.\nBeijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a twenty percent share of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.\n(Source:Schroders)\nTurning to growth projections.\nWith more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.\n(Source:McKinsey)\nSince China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.\nScale and manufacturing competence\nFord has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.\nSince NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.\nWinner here: Ford.\nDifferentiation and BaaS revenue model\nBoth Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.\nFord is forming a joint venture with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has formed its own joint venture to secure battery supply.\nThe difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.\nThe BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.\nFord and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.\nBattery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.\n(Source: Schroders)\nThe “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.\nSales growth and valuation\nFord’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.\nFord's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.\nData by YCharts\nThe difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!\nDue to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.\n(Source: Author)\nNIO has larger risks...\nNIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.\nFinal verdict\nNIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.\nFord’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.\nIf you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.","news_type":1},"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125737449,"gmtCreate":1624692718881,"gmtModify":1703843779346,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Up up","listText":"Up up","text":"Up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125737449","repostId":"1108941456","repostType":4,"repost":{"id":"1108941456","pubTimestamp":1624664800,"share":"https://ttm.financial/m/news/1108941456?lang=&edition=fundamental","pubTime":"2021-06-26 07:46","market":"us","language":"en","title":"Is Apple A Better Buy Than Other FAANG Stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=1108941456","media":"seekingalpha","summary":"Apple undoubtedly is a great company, with a strong brand, excellent margins, and fundamentals, a fortress balance sheet, and massive shareholder returns.Being a great company does not mean that the stock must be a great buy. However, valuations are significantly higher than they were historically.I believe that some of the other FAANG stocks are better, while others are worse. AAPL seems like a solid, but not a spectacular investment at today's valuation.At 26-64x this year's expected net profi","content":"<p><b>Summary</b></p>\n<ul>\n <li>Apple undoubtedly is a great company, with a strong brand, excellent margins, and fundamentals, a fortress balance sheet, and massive shareholder returns.</li>\n <li>Being a great company does not mean that the stock must be a great buy. However, valuations are significantly higher than they were historically.</li>\n <li>I believe that some of the other FAANG stocks are better, while others are worse. AAPL seems like a solid, but not a spectacular investment at today's valuation.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8bb49d385ec6d3044db2f4474cbb2c57\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>MagioreStock/iStock Editorial via Getty Images</span></p>\n<p><b>Article Thesis</b></p>\n<p>Going with FAANG stocks, i.e. Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Alphabet (GOOG)(GOOGL), has been a winning trade in recent years, as those companies delivered strong gains for their owners. These companies do, however, differ quite a lot from each other in a range of metrics, including growth, valuation, and there are also differences when it comes to each company's specific risks and moat. Apple is the largest company of these in terms of profits and market capitalization, but that does not necessarily make it the best investment. In this report, we will take a look at how Apple compares versus the other FAANG members.</p>\n<p><b>Are FAANG Stocks A Good Investment?</b></p>\n<p>Looking back a couple of years, the answer is pretty clear that FAANG stocks at least<i>were</i>a good investment in the recent past:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae2b8e2b9caf99f74c28bafc10a0a872\" tg-width=\"635\" tg-height=\"484\"><span>Data by YCharts</span></p>\n<p>With gains of 200% to 460%, these five companies easily trounced the broad market's returns over the same time, and all led to hefty gains, at least tripling an investor's money in just five years. The factors that led to these strong gains do, at least partially, still exist today. Notably, these five companies are generating compelling earnings growth, have leadership positions in the markets they address, possess strong brands that are well-received by consumers, and seem to have strong, long-term-oriented leadership teams.</p>\n<p>These factors are still in place today, which indicates that FAANG stocks could also be good investments in coming years, although investors should, even with high-quality companies, also consider a stock's valuation. Today, these companies do not look extremely cheap in most cases:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2ef865eea7af4369048432a9c85d1d83\" tg-width=\"635\" tg-height=\"540\"><span>Data by YCharts</span></p>\n<p>At 26-64x this year's expected net profits, FAANG stocks can't really be called bargains, although the above-average valuations are, at least to some degree, justified due to the above-average earnings growth that these companies do generate. In any case, I doubt that investors owning FAANG stocks today will see 200%-400%+ returns over the next five years, as this seems unlikely for each of these five stocks due to the combination of current valuations and expected earnings growth. This does, however, not mean that FAANG stocks must be bad investments or underperform the market. In fact, in recent articles, I showcased that solid or even quite attractive returns can be expected from&nbsp;Facebook,Amazon, and Apple, even though the 30%-50% annual returns are likely a thing of the past - that's just mathematics, as no stock can grow at that rate forever.</p>\n<p><b>What Investors Can Expect From Apple</b></p>\n<p>Apple Inc. is not the highest-growth FAANG stock at all. Its growth has been solid but not spectacular in the recent past. This isn't a large surprise, as there is only a certain number of consumers that want to buy an iPhone or an iPad, and that amount can't grow by 50% a year for a very long time. Nevertheless, due to some market growth, some price increases, and growth from its services business, Apple should still be able to deliver sizeable revenue growth in the long run. New products such as the car project are a potential wildcard, but at least for the foreseeable future, this will not be a major profit center for the company. Apple also has a very ambitious shareholder return program, and its buybacks are an important factor for its future earnings per share growth. I believe that, overall, a high-single-digit earnings per share growth rate will be very much achievable for Apple in the long run. Combined with some multiple depression that I expect in coming years, as Apple will likely not trade at a high-20s earnings multiple forever, this gets me to a total return estimate&nbsp;in the 7% range. This is significantly less compared to what investors saw over the last couple of years, but on the other hand, 7% annual returns stemming from a strong, stable blue-chip stock such as Apple are not unattractive. I believe that some of the FAANG stocks could deliver stronger returns, primarily Alphabet and Facebook.</p>\n<p><b>Apple Versus Facebook</b></p>\n<p>Both Apple Inc. and Facebook have a great market position, but Facebook is even more dominant in its industry compared to Apple. Apple has, in the smartphone industry, a market share of around 20%, although more in the higher-end segments. Facebook, for comparison, owns four out of the top five social media networks, with Facebook, Instagram, Facebook Messenger, and WhatsApp. Clearly, FB absolutely dominates its industry. Facebook's industry is also growing quicker than the hardware IT markets that Apple serves, which is why Facebook's growth was significantly higher than Apple's growth in the recent past:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8fd8043ca75dcb2c38f5ffa427c8c0b9\" tg-width=\"635\" tg-height=\"433\"><span>Data by YCharts</span></p>\n<p>Facebook grew its revenue by well above 300% over the last five years, while Apple's revenue grew by a little less than 50%. When we look back at the total return chart at the beginning of this article and compare it to this revenue chart, we see that Apple's returns stemmed from multiple expansion to a large degree, whereas Facebook's stock actually got less expensive over the last five years. Facebook's business growth clearly outpaced its share price gains, which has made its shares less expensive. This also explains why Facebook, today, trades below the long-term median earnings multiple, whereas Apple's valuation is at the higher end of the historic range:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3d49e0007aa77608b2992a9fef2142d\" tg-width=\"635\" tg-height=\"481\"><span>Data by YCharts</span></p>\n<p>The fact that Facebook trades at a historic discount points to a solid entry price, whereas the same can't be said about Apple. On top of that, Facebook will also grow much faster in the future - at least if the analyst community is correct:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6b16c9b3e2eac182d42686bcd8a98fc5\" tg-width=\"635\" tg-height=\"515\"><span>Data by YCharts</span></p>\n<p>While Apple is expected to see revenue growth of around 10% over the next two years, Facebook is expected to grow by 40% over the same time. Facebook's earnings per share growth estimate is also materially higher than that of Apple.</p>\n<p>To sum things up, we can say that Facebook is growing much faster, is even more dominant in its industry compared to Apple, and its shares are trading at a discount compared to the historic average, whereas Apple's shares are historically expensive. This combination makes me believe that the total return outlook for Facebook is better compared to that of Apple.</p>\n<p><b>Apple Versus Alphabet</b></p>\n<p>When we compare Apple to Alphabet, the comparison is relatively similar to what we just saw when comparing Applet to Facebook. Alphabet is a company that is growing quicker than Apple, and that can, to a large degree, be explained by its great market position and the higher market growth rate. Online advertising is a market that has been growing quicker than the tablet or smartphone market in recent years, and the same will, I believe, be true in the foreseeable future as well.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6360514d097081c546a0ccacfbdc7af6\" tg-width=\"635\" tg-height=\"450\"><span>Data by YCharts</span></p>\n<p>Alphabet is forecasted to grow its revenue by more than 30% over the next two years, versus Apple's 10% growth. On top of that, at close to 20%, Alphabet is also expected to grow its earnings per share at a higher rate.</p>\n<p>Nevertheless, despite its significantly better growth forecast, Alphabet isn't a lot more expensive compared to Apple. GOOG trades at 29x forward earnings, versus AAPL's 26x forward earnings multiple. Does it make sense for GOOG to trade at a premium of just 10%, while its expected growth is one and a half times as high as that of AAPL? You be the judge, but to me, it seems like the valuation looks better at Alphabet as long as we account for the stronger growth expectations. On top of that, with a net cash position of around $120 billion, Alphabet also has one of the best balance sheets in the world. Apple, for comparison, has a somewhat<i>smaller</i>net cash position of $80 billion, although that still makes for a very strong balance sheet, of course.</p>\n<p>All in all, we can summarize that Alphabet is growing faster today, is expected to grow significantly faster in the next two years and in the long run, has an even better balance sheet and a more dominant market position, and yet it trades at an earnings multiple that is only 10% higher than that of Apple. To me, Alphabet thus looks like the more attractive pick among these two at current prices.</p>\n<p><b>Apple Versus Netflix And Amazon</b></p>\n<p>Looking at the last two remaining companies in the FAANG group, we see that, once again, AAPL is growing at a slower pace. Unless Facebook and Alphabet, however, both Netflix and Amazon are way more expensive than Apple.</p>\n<p>This huge valuation premium offsets, at least to some degree, the higher expected growth, which is why I believe that Netflix and Amazon do not really seem like much better picks compared to Apple:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ccc2536fa3cadf06639a89e0b211b9a\" tg-width=\"635\" tg-height=\"481\"><span>Data by YCharts</span></p>\n<p>AMZN and NFLX trade at PEG ratios of 1.8 and 1.9, which does not represent a clear discount compared to AAPL's valuation. On top of that, these two companies do not possess balance sheets that are as strong as that of Apple.</p>\n<p>Netflix, especially, looks significantly worse compared to the other FAANG members in terms of balance sheet strength and cash generation:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9d84f013051fbb00b6b488f5cfed66d4\" tg-width=\"635\" tg-height=\"450\"><span>Data by YCharts</span></p>\n<p>Netflix is the only FAANG member with a meaningful net debt position, and its free cash flows are equal to just 1% of its market capitalization. Netflix grows fast, but to me, it seems doubtful whether the current valuation is justified. Considering that more and more companies are pushing into the streaming market, including Disney (DIS), Amazon, and AT&amp;T(NYSE:T), more competition might hurt Netflix's margins in the future. NFLX thus seems like the worst pick among the five FAANG stocks to me, as it combines a high valuation, weak cash flows, and a somewhat uncertain competitive picture, and I think that is not fully negated by its strong growth alone.</p>\n<p>Amazon has a better market position than Netflix, a better balance sheet, and its valuation, relative to its growth, is a little lower than that of Netflix. I would rate Amazon as more or less equally attractive to Apple, although the two companies are quite different from each other in terms of growth, valuation, and shareholder returns.</p>\n<p><b>Which Is The Best FAANG Stock To Buy?</b></p>\n<p>Not every investor has the same goals, thus the answer may be different depending on what you are looking for in a stock. To me, Apple seems like a solid, but outstanding pick at current prices - the business undoubtedly is strong, the balance sheet is great, shareholder returns are hefty, but the valuation seems stretched, especially when we consider how cheap shares were in the past.</p>\n<p>Alphabet and Facebook do seem like the best FAANG picks to me today, as they combine strong growth with valuations that are only marginally higher than that of Apple. On top of that, both Alphabet and Facebook dominate their markets. Amazon is a stock that I would rate as a solid investment at today's price, so more or less in line with AAPL, whereas Netflix seems like the weakest pick among these five to me.</p>\n<p>Depending on your time horizon, appetite for risk, etc. you may disagree, however - and that's perfectly fine. I'd be glad to hear your top picks and reasoning in the comment section!</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>Is Apple A Better Buy Than Other FAANG Stocks?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Apple A Better Buy Than Other FAANG Stocks?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-26 07:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436558-apple-better-buy-faang-stocks><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nApple undoubtedly is a great company, with a strong brand, excellent margins, and fundamentals, a fortress balance sheet, and massive shareholder returns.\nBeing a great company does not mean ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436558-apple-better-buy-faang-stocks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4436558-apple-better-buy-faang-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108941456","content_text":"Summary\n\nApple undoubtedly is a great company, with a strong brand, excellent margins, and fundamentals, a fortress balance sheet, and massive shareholder returns.\nBeing a great company does not mean that the stock must be a great buy. However, valuations are significantly higher than they were historically.\nI believe that some of the other FAANG stocks are better, while others are worse. AAPL seems like a solid, but not a spectacular investment at today's valuation.\n\nMagioreStock/iStock Editorial via Getty Images\nArticle Thesis\nGoing with FAANG stocks, i.e. Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Alphabet (GOOG)(GOOGL), has been a winning trade in recent years, as those companies delivered strong gains for their owners. These companies do, however, differ quite a lot from each other in a range of metrics, including growth, valuation, and there are also differences when it comes to each company's specific risks and moat. Apple is the largest company of these in terms of profits and market capitalization, but that does not necessarily make it the best investment. In this report, we will take a look at how Apple compares versus the other FAANG members.\nAre FAANG Stocks A Good Investment?\nLooking back a couple of years, the answer is pretty clear that FAANG stocks at leastwerea good investment in the recent past:\nData by YCharts\nWith gains of 200% to 460%, these five companies easily trounced the broad market's returns over the same time, and all led to hefty gains, at least tripling an investor's money in just five years. The factors that led to these strong gains do, at least partially, still exist today. Notably, these five companies are generating compelling earnings growth, have leadership positions in the markets they address, possess strong brands that are well-received by consumers, and seem to have strong, long-term-oriented leadership teams.\nThese factors are still in place today, which indicates that FAANG stocks could also be good investments in coming years, although investors should, even with high-quality companies, also consider a stock's valuation. Today, these companies do not look extremely cheap in most cases:\nData by YCharts\nAt 26-64x this year's expected net profits, FAANG stocks can't really be called bargains, although the above-average valuations are, at least to some degree, justified due to the above-average earnings growth that these companies do generate. In any case, I doubt that investors owning FAANG stocks today will see 200%-400%+ returns over the next five years, as this seems unlikely for each of these five stocks due to the combination of current valuations and expected earnings growth. This does, however, not mean that FAANG stocks must be bad investments or underperform the market. In fact, in recent articles, I showcased that solid or even quite attractive returns can be expected from Facebook,Amazon, and Apple, even though the 30%-50% annual returns are likely a thing of the past - that's just mathematics, as no stock can grow at that rate forever.\nWhat Investors Can Expect From Apple\nApple Inc. is not the highest-growth FAANG stock at all. Its growth has been solid but not spectacular in the recent past. This isn't a large surprise, as there is only a certain number of consumers that want to buy an iPhone or an iPad, and that amount can't grow by 50% a year for a very long time. Nevertheless, due to some market growth, some price increases, and growth from its services business, Apple should still be able to deliver sizeable revenue growth in the long run. New products such as the car project are a potential wildcard, but at least for the foreseeable future, this will not be a major profit center for the company. Apple also has a very ambitious shareholder return program, and its buybacks are an important factor for its future earnings per share growth. I believe that, overall, a high-single-digit earnings per share growth rate will be very much achievable for Apple in the long run. Combined with some multiple depression that I expect in coming years, as Apple will likely not trade at a high-20s earnings multiple forever, this gets me to a total return estimate in the 7% range. This is significantly less compared to what investors saw over the last couple of years, but on the other hand, 7% annual returns stemming from a strong, stable blue-chip stock such as Apple are not unattractive. I believe that some of the FAANG stocks could deliver stronger returns, primarily Alphabet and Facebook.\nApple Versus Facebook\nBoth Apple Inc. and Facebook have a great market position, but Facebook is even more dominant in its industry compared to Apple. Apple has, in the smartphone industry, a market share of around 20%, although more in the higher-end segments. Facebook, for comparison, owns four out of the top five social media networks, with Facebook, Instagram, Facebook Messenger, and WhatsApp. Clearly, FB absolutely dominates its industry. Facebook's industry is also growing quicker than the hardware IT markets that Apple serves, which is why Facebook's growth was significantly higher than Apple's growth in the recent past:\nData by YCharts\nFacebook grew its revenue by well above 300% over the last five years, while Apple's revenue grew by a little less than 50%. When we look back at the total return chart at the beginning of this article and compare it to this revenue chart, we see that Apple's returns stemmed from multiple expansion to a large degree, whereas Facebook's stock actually got less expensive over the last five years. Facebook's business growth clearly outpaced its share price gains, which has made its shares less expensive. This also explains why Facebook, today, trades below the long-term median earnings multiple, whereas Apple's valuation is at the higher end of the historic range:\nData by YCharts\nThe fact that Facebook trades at a historic discount points to a solid entry price, whereas the same can't be said about Apple. On top of that, Facebook will also grow much faster in the future - at least if the analyst community is correct:\nData by YCharts\nWhile Apple is expected to see revenue growth of around 10% over the next two years, Facebook is expected to grow by 40% over the same time. Facebook's earnings per share growth estimate is also materially higher than that of Apple.\nTo sum things up, we can say that Facebook is growing much faster, is even more dominant in its industry compared to Apple, and its shares are trading at a discount compared to the historic average, whereas Apple's shares are historically expensive. This combination makes me believe that the total return outlook for Facebook is better compared to that of Apple.\nApple Versus Alphabet\nWhen we compare Apple to Alphabet, the comparison is relatively similar to what we just saw when comparing Applet to Facebook. Alphabet is a company that is growing quicker than Apple, and that can, to a large degree, be explained by its great market position and the higher market growth rate. Online advertising is a market that has been growing quicker than the tablet or smartphone market in recent years, and the same will, I believe, be true in the foreseeable future as well.\nData by YCharts\nAlphabet is forecasted to grow its revenue by more than 30% over the next two years, versus Apple's 10% growth. On top of that, at close to 20%, Alphabet is also expected to grow its earnings per share at a higher rate.\nNevertheless, despite its significantly better growth forecast, Alphabet isn't a lot more expensive compared to Apple. GOOG trades at 29x forward earnings, versus AAPL's 26x forward earnings multiple. Does it make sense for GOOG to trade at a premium of just 10%, while its expected growth is one and a half times as high as that of AAPL? You be the judge, but to me, it seems like the valuation looks better at Alphabet as long as we account for the stronger growth expectations. On top of that, with a net cash position of around $120 billion, Alphabet also has one of the best balance sheets in the world. Apple, for comparison, has a somewhatsmallernet cash position of $80 billion, although that still makes for a very strong balance sheet, of course.\nAll in all, we can summarize that Alphabet is growing faster today, is expected to grow significantly faster in the next two years and in the long run, has an even better balance sheet and a more dominant market position, and yet it trades at an earnings multiple that is only 10% higher than that of Apple. To me, Alphabet thus looks like the more attractive pick among these two at current prices.\nApple Versus Netflix And Amazon\nLooking at the last two remaining companies in the FAANG group, we see that, once again, AAPL is growing at a slower pace. Unless Facebook and Alphabet, however, both Netflix and Amazon are way more expensive than Apple.\nThis huge valuation premium offsets, at least to some degree, the higher expected growth, which is why I believe that Netflix and Amazon do not really seem like much better picks compared to Apple:\nData by YCharts\nAMZN and NFLX trade at PEG ratios of 1.8 and 1.9, which does not represent a clear discount compared to AAPL's valuation. On top of that, these two companies do not possess balance sheets that are as strong as that of Apple.\nNetflix, especially, looks significantly worse compared to the other FAANG members in terms of balance sheet strength and cash generation:\nData by YCharts\nNetflix is the only FAANG member with a meaningful net debt position, and its free cash flows are equal to just 1% of its market capitalization. Netflix grows fast, but to me, it seems doubtful whether the current valuation is justified. Considering that more and more companies are pushing into the streaming market, including Disney (DIS), Amazon, and AT&T(NYSE:T), more competition might hurt Netflix's margins in the future. NFLX thus seems like the worst pick among the five FAANG stocks to me, as it combines a high valuation, weak cash flows, and a somewhat uncertain competitive picture, and I think that is not fully negated by its strong growth alone.\nAmazon has a better market position than Netflix, a better balance sheet, and its valuation, relative to its growth, is a little lower than that of Netflix. I would rate Amazon as more or less equally attractive to Apple, although the two companies are quite different from each other in terms of growth, valuation, and shareholder returns.\nWhich Is The Best FAANG Stock To Buy?\nNot every investor has the same goals, thus the answer may be different depending on what you are looking for in a stock. To me, Apple seems like a solid, but outstanding pick at current prices - the business undoubtedly is strong, the balance sheet is great, shareholder returns are hefty, but the valuation seems stretched, especially when we consider how cheap shares were in the past.\nAlphabet and Facebook do seem like the best FAANG picks to me today, as they combine strong growth with valuations that are only marginally higher than that of Apple. On top of that, both Alphabet and Facebook dominate their markets. Amazon is a stock that I would rate as a solid investment at today's price, so more or less in line with AAPL, whereas Netflix seems like the weakest pick among these five to me.\nDepending on your time horizon, appetite for risk, etc. you may disagree, however - and that's perfectly fine. I'd be glad to hear your top picks and reasoning in the comment section!","news_type":1},"isVote":1,"tweetType":1,"viewCount":150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122906561,"gmtCreate":1624590998553,"gmtModify":1703841188491,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Is it worth to take up Sembcorp marine&nbsp;right issue?","listText":"Is it worth to take up Sembcorp marine&nbsp;right issue?","text":"Is it worth to take up Sembcorp marine right issue?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/122906561","repostId":"2146102197","repostType":4,"repost":{"id":"2146102197","pubTimestamp":1624586853,"share":"https://ttm.financial/m/news/2146102197?lang=&edition=fundamental","pubTime":"2021-06-25 10:07","market":"sg","language":"en","title":"Keppel jumps, Sembcorp Marine tumbles as trading resumes after news of O&M merger talks","url":"https://stock-news.laohu8.com/highlight/detail?id=2146102197","media":"The Straits Times","summary":"SINGAPORE - Shares of Keppel Corp and Sembcorp Marine (Sembmarine) went their separate ways when tra","content":"<div>\n<p>SINGAPORE - Shares of Keppel Corp and Sembcorp Marine (Sembmarine) went their separate ways when trading in the stocks resumed on Friday morning (June 25), after the two announced talks to explore a ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/keppel-jumps-sembcorp-marine-tumbles-as-trading-resumes-after-news-of-om\">Web Link</a>\n\n</div>\n","source":"straits_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Keppel jumps, Sembcorp Marine tumbles as trading resumes after news of O&M merger talks</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\">\nKeppel jumps, Sembcorp Marine tumbles as trading resumes after news of O&M merger talks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 10:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/business/companies-markets/keppel-jumps-sembcorp-marine-tumbles-as-trading-resumes-after-news-of-om><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE - Shares of Keppel Corp and Sembcorp Marine (Sembmarine) went their separate ways when trading in the stocks resumed on Friday morning (June 25), after the two announced talks to explore a ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/keppel-jumps-sembcorp-marine-tumbles-as-trading-resumes-after-news-of-om\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U96.SI":"胜科工业","MPX":"海洋产品","BN4.SI":"吉宝有限公司","MARPS":"海洋石油投资"},"source_url":"http://www.straitstimes.com/business/companies-markets/keppel-jumps-sembcorp-marine-tumbles-as-trading-resumes-after-news-of-om","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146102197","content_text":"SINGAPORE - Shares of Keppel Corp and Sembcorp Marine (Sembmarine) went their separate ways when trading in the stocks resumed on Friday morning (June 25), after the two announced talks to explore a potential combination of their offshore and marine (O&M) businesses.\nKeppel shares jumped 29 cents or 5.4 per cent to $5.40 at 9.04am, from their close on Wednesday, while Sembmarine fell 4.6 cents or 24 per cent to 14.5 cents. The companies had halted trading on Thursday.\nAt 9.40am, Keppel extended its gains, trading up 6.3 per cent at $5.43. Sembmarine, the most heavily traded stock by volume, was down 18.9 per cent at 1.55 cents, with 319,000 shares trading hands.\nThe two companies on Thursday signed a non-binding non-binding agreement to enter into exclusive talks with the aim of merging Keppel's offshore and marine arm (Keppel O&M) and Sembmarine. This is intended to create a combined entity that is better positioned to compete for contracts in offshore renewable energy.\nThe move comes amid an extended period of low oil prices and persistent disruptions in the oil and gas sector, such as manpower shortages and reductions in demand for rigs by oil majors.\nIf a merger ensues, Keppel says it expects to receive shares in the combined entity, which will remain listed on the Singapore Exchange. Keppel intends to distribute all these shares to its shareholders. It will also receive cash totalling $500 million.\nMeawnhile, in a move expected to immediately depress Sembmarine's shares from the dilution effect, the company separately announced on Thursday it will seek fresh funds via a fully underwritten $1.5 billion renounceable rights issue. In September last year, Sembmarine raised $2.1 billion in a similar exercise following its demerger from Sembcorp Industries.","news_type":1},"isVote":1,"tweetType":1,"viewCount":376,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128673769,"gmtCreate":1624515970651,"gmtModify":1703839044460,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569217140119194","authorIdStr":"3569217140119194"},"themes":[],"htmlText":"Does it means&nbsp;good value ?","listText":"Does it means&nbsp;good value ?","text":"Does it means good value ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/128673769","repostId":"1187067912","repostType":4,"repost":{"id":"1187067912","pubTimestamp":1624513711,"share":"https://ttm.financial/m/news/1187067912?lang=&edition=fundamental","pubTime":"2021-06-24 13:48","market":"sg","language":"en","title":"Keppel, Sembcorp Marine in talks for marine services deal, sources say","url":"https://stock-news.laohu8.com/highlight/detail?id=1187067912","media":"Reuters","summary":"(Reuters) -Temasek-backed Singapore conglomerate Keppel Corp and Sembcorp Marine are set to begin ta","content":"<p>(Reuters) -Temasek-backed Singapore conglomerate Keppel Corp and Sembcorp Marine are set to begin talks to explore combining their ailing offshore and marine (O&amp;M) businesses, two sources familiar with the matter said on Thursday.</p>\n<p>A potential deal would bring together one of the world’s largest offshore oil rig builders with smaller rival Sembcorp after the businesses were whiplashed by years of oversupply in the sector, sustained weakness in oil prices and a drop in new orders.</p>\n<p>“Consolidation is needed simply because of competition, and the need for bigger working capital to take on new and bigger projects,” said Joel Ng at KGI Securities. Both companies own a network of shipyards in Singapore and overseas, including in Brazil, and employ thousands of workers.</p>\n<p>Trading in shares of Keppel and Sembcorp, which both count Singapore state investor Temasek Holdings as their largest shareholder, was halted on Thursday pending announcements.</p>\n<p>Sembcorp has a market value of S$2.4 billion ($1.8 billion), while Keppel, whose businesses include property and infrastructure, is valued at S$9.3 billion.</p>\n<p>Keppel declined comment while there was no immediate response from Sembcorp Marine to a Reuters query. Both companies are holding separate news conferences later on Thursday.</p>\n<p>The sources said boards of both companies are meeting to begin discussions that could take many months and ultimately result in Keppel Corp hiving off its O&amp;M business and combining it with Sembcorp Marine, the sources said.</p>\n<p>The sources declined to be identified as they were not authorised to speak to media.</p>\n<p>Markets have been expecting a much-needed consolidation in the rig-building sector as companies in the shipbuilding and marine sectors in markets such as South Korea and China have already joined forces amid a weak sector outlook.</p>\n<p>Keppel’s shares have lost around 15% over the past 12 months, while Sembcorp has tumbled 40%.</p>\n<p>Last year, Temasek scrapped a $3 billion move to raise its stake in Keppel and take control, following Keppel’s poor performance.</p>\n<p>Then this year, Keppel said it was exploring options for its O&amp;M business, as part of the group’s 10-year strategy to refocus its portfolio on energy and environment, urban development, connectivity and asset management.</p>\n<p>Market talk of a consolidation between the rig builders had first resurfaced in June 2020 when Sembcorp Industries, the former parent of Sembcorp Marine, unveiled plans to demerge its core business from the lossmaking rig builder.</p>\n<p>Then Temasek stepped in to support a $1.5 billion rights issue by Sembcorp Marine.</p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Keppel, Sembcorp Marine in talks for marine services deal, sources say</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKeppel, Sembcorp Marine in talks for marine services deal, sources say\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 13:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/keppel-corp-trading-halt-sembcorp-marine/update-3-keppel-sembcorp-marine-in-talks-for-marine-services-deal-sources-say-idUSL2N2O536D><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) -Temasek-backed Singapore conglomerate Keppel Corp and Sembcorp Marine are set to begin talks to explore combining their ailing offshore and marine (O&M) businesses, two sources familiar ...</p>\n\n<a href=\"https://www.reuters.com/article/keppel-corp-trading-halt-sembcorp-marine/update-3-keppel-sembcorp-marine-in-talks-for-marine-services-deal-sources-say-idUSL2N2O536D\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BN4.SI":"吉宝有限公司"},"source_url":"https://www.reuters.com/article/keppel-corp-trading-halt-sembcorp-marine/update-3-keppel-sembcorp-marine-in-talks-for-marine-services-deal-sources-say-idUSL2N2O536D","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187067912","content_text":"(Reuters) -Temasek-backed Singapore conglomerate Keppel Corp and Sembcorp Marine are set to begin talks to explore combining their ailing offshore and marine (O&M) businesses, two sources familiar with the matter said on Thursday.\nA potential deal would bring together one of the world’s largest offshore oil rig builders with smaller rival Sembcorp after the businesses were whiplashed by years of oversupply in the sector, sustained weakness in oil prices and a drop in new orders.\n“Consolidation is needed simply because of competition, and the need for bigger working capital to take on new and bigger projects,” said Joel Ng at KGI Securities. Both companies own a network of shipyards in Singapore and overseas, including in Brazil, and employ thousands of workers.\nTrading in shares of Keppel and Sembcorp, which both count Singapore state investor Temasek Holdings as their largest shareholder, was halted on Thursday pending announcements.\nSembcorp has a market value of S$2.4 billion ($1.8 billion), while Keppel, whose businesses include property and infrastructure, is valued at S$9.3 billion.\nKeppel declined comment while there was no immediate response from Sembcorp Marine to a Reuters query. Both companies are holding separate news conferences later on Thursday.\nThe sources said boards of both companies are meeting to begin discussions that could take many months and ultimately result in Keppel Corp hiving off its O&M business and combining it with Sembcorp Marine, the sources said.\nThe sources declined to be identified as they were not authorised to speak to media.\nMarkets have been expecting a much-needed consolidation in the rig-building sector as companies in the shipbuilding and marine sectors in markets such as South Korea and China have already joined forces amid a weak sector outlook.\nKeppel’s shares have lost around 15% over the past 12 months, while Sembcorp has tumbled 40%.\nLast year, Temasek scrapped a $3 billion move to raise its stake in Keppel and take control, following Keppel’s poor performance.\nThen this year, Keppel said it was exploring options for its O&M business, as part of the group’s 10-year strategy to refocus its portfolio on energy and environment, urban development, connectivity and asset management.\nMarket talk of a consolidation between the rig builders had first resurfaced in June 2020 when Sembcorp Industries, the former parent of Sembcorp Marine, unveiled plans to demerge its core business from the lossmaking rig builder.\nThen Temasek stepped in to support a $1.5 billion rights issue by Sembcorp Marine.","news_type":1},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3571345352614779","authorId":"3571345352614779","name":"xiaobaii","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"3571345352614779","authorIdStr":"3571345352614779"},"content":"Kindly Like & Comment Please, Thank You Very Much","text":"Kindly Like & Comment Please, Thank You Very Much","html":"Kindly Like & Comment Please, Thank You Very Much"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":183071328583760,"gmtCreate":1685716451466,"gmtModify":1685718185503,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$&nbsp;</a>","text":"$Futu Holdings Limited(FUTU)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183071328583760","isVote":1,"tweetType":1,"viewCount":395,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146812965,"gmtCreate":1626065663157,"gmtModify":1703752675704,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"In long run still will go to the moon [USD]&nbsp;[USD]&nbsp;","listText":"In long run still will go to the moon [USD]&nbsp;[USD]&nbsp;","text":"In long run still will go to the moon [USD] [USD]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/146812965","repostId":"1143980547","repostType":4,"repost":{"id":"1143980547","pubTimestamp":1626060038,"share":"https://ttm.financial/m/news/1143980547?lang=&edition=fundamental","pubTime":"2021-07-12 11:20","market":"us","language":"en","title":"Virgin Galactic And Irrational Exuberance","url":"https://stock-news.laohu8.com/highlight/detail?id=1143980547","media":"seekingalpha","summary":"Summary\n\nWe tried to determine what the financial performance of the company should be in order for ","content":"<p><b>Summary</b></p>\n<ul>\n <li>We tried to determine what the financial performance of the company should be in order for the current price to look fair.</li>\n <li>For the price to be fair, FCFF in 2022 should be $35 million and grow at CAGR of 350%. Revenue should be $110 billion by 2027.</li>\n <li>The current and expected market capacity does not allow the company to demonstrate such financial performance.</li>\n <li>In our opinion, the current price of Virgin Galactic can only be explained by irrational exuberance.</li>\n <li>The market can remain irrational longer than you can remain solvent, so we do not short, we only watch the company from the sideline.</li>\n</ul>\n<blockquote>\n The Markets Can Remain Irrational Longer Than You Can Remain Solvent. - John Maynard Keynes\n</blockquote>\n<p><b>Thesis</b></p>\n<p>Could a German fugitive who tried to cross the Jornada del Muerto in the dry season of 1670 imagine that a few hundred years later, next to his vulture-torn remains, an eccentric British billionaire would be paving the way into the world of space tourism? Hardly. Thanks to human genius and the free market, we are living in an amazing time. And do not underestimate the role of the latter.</p>\n<p>The financial industry is like a circulatory system for a market organism. Driven by human greed, it distributes resources from old established industries to the most promising sectors of the new economy. It was like this before, and so it is now. The reason why investors are ready to abandon investments in a profitable established company in favor of investments in a loss-making business in an unformed industry is quite understandable. We are ready to release the bird from our hands only if we expect that in the bush there will be not two birds, but 22. But our expectations must be justified. In our opinion, the current price of Virgin Galactic can only be explained by irrational exuberance.</p>\n<p><b>Valuation And Perspectives</b></p>\n<p>We usually evaluate a business based on the expected financial results that the company will be able to achieve in the future. With Virgin Galactic(NYSE:SPCE), we decided to go the opposite way. We tried to determine what the financial indicators of the company should be in order for the current price to look fair.</p>\n<p>The value of any asset is determined by the present value of its future cash flows. This is an axiom of finance that is often criticized by unsophisticated investors. Indeed, if your investment strategy is based on the hope that someone will definitely agree to pay more for an asset than you pay for it, then the value of the asset is not important. If your friend writes you a bill of exchange and there is a buyer who is always ready to pay for this bill above par, then solvency and interest are unlikely to worry you. However, if there is no such buyer, you will turn into a demanding lender who will carefully compare the interest on a bill of exchange with the value of money and include all possible risks in the interest rate. In other words, you will begin to discount the cash flow.</p>\n<p>The weighted average cost of capital for the SPCE is not difficult to determine. Today the company's assets are 56% financed by equity capital, and there is no debt burden. The company's balance sheet as at the last reporting date is presented below:</p>\n<p><img src=\"https://static.tigerbbs.com/a5fcadf6dbf15f58f33506c58d8ad7fa\" tg-width=\"640\" tg-height=\"459\"></p>\n<p>(Source:Company's IR)</p>\n<p>According to our calculation, the company's cost of capital is 9%. Given that Virgin has a low leverage, the weighted average cost of capital is also 9%.</p>\n<p><img src=\"https://static.tigerbbs.com/b9685bee425247505e9479e60a75ad72\" tg-width=\"640\" tg-height=\"242\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source: Created by the author)</p>\n<p>Thus, if Virgin Galactic's current market cap is fair, the company's free cash flow from 2022 to 2027 should look like this:</p>\n<p><img src=\"https://static.tigerbbs.com/af1919420bc286424d2f62152e2e14ca\" tg-width=\"640\" tg-height=\"388\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source: Created by the author)</p>\n<p>It is difficult to estimate the potential profitability of a business that does not yet exist. However, we can roughly define it. The company's cost of revenue includes costs related to rocket fuel consumption, salaries and benefits for pilots and ground crew, and maintenance. Virgin conducted its second test flight in February 2019. At the end of the first quarter of 2019, the company reflected in the reporting $1 million Cost of revenue, at the end of the first quarter of 2020, SPCE reflected $ 173 thousand in cost of revenue. According to the report, the change in cost of revenue is primarily due to the costs for flying payload in Q1 2019.</p>\n<p><img src=\"https://static.tigerbbs.com/befcd5a3926ada7aebead8314713d44c\" tg-width=\"640\" tg-height=\"227\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source:Company's IR)</p>\n<p>Thus, we can determine that the estimated cost of launching one spaceship is $800 thousand dollars. With a ticket price of $200,000, the expected revenue per flight will be $1,200,000. As with the airline business, Virgin's key costs are cost of revenue. If the company can achieve an LFCF margin of 10% (slightly better than that of the most marginal US airlines), then the dynamics of revenue should take the following form:</p>\n<p><img src=\"https://static.tigerbbs.com/58c6ee07b1a3cbcce384d7e62e90632c\" tg-width=\"640\" tg-height=\"389\"></p>\n<p>(Source: Created by the author)</p>\n<p>In an interview withCNBC, CEO Michael Colglazier said he expects each spaceport to generate $1 billion for the company. Thus, to justify the current price, the company needs to build 110 spaceports and sell 275 thousand tickets for 400 thousand dollars each (in the same interview, the CEO said that each spaceport will have 400 flights a year, that is, with a revenue of $1 billion, the price 1 ticket must be equal to $400 thousand). As a reminder,according to UBS, space tourism will be a $3 billion market by 2030. Thus, the current capitalization of the company cannot be explained by any reasonable expectations.</p>\n<p><b>Conclusion</b></p>\n<p>Virgin Galactic could be good business one day. However, in our opinion the current capitalization cannot be explained by any reasonable expectations. For the current estimate to be justified, the company needs to sell $ 110 billion worth of tickets by 2027. Which is impossible given the current and expected market capacity. However, we do not short because the company is attracting a lot of attention. As John Maynard Keynes said, the market can remain irrational longer than you can remain solvent. We will watch the company from the sideline.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Virgin Galactic And Irrational Exuberance</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\">\nVirgin Galactic And Irrational Exuberance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 11:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4438687-virgin-galactic-and-irrational-exuberance><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWe tried to determine what the financial performance of the company should be in order for the current price to look fair.\nFor the price to be fair, FCFF in 2022 should be $35 million and ...</p>\n\n<a href=\"https://seekingalpha.com/article/4438687-virgin-galactic-and-irrational-exuberance\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://seekingalpha.com/article/4438687-virgin-galactic-and-irrational-exuberance","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1143980547","content_text":"Summary\n\nWe tried to determine what the financial performance of the company should be in order for the current price to look fair.\nFor the price to be fair, FCFF in 2022 should be $35 million and grow at CAGR of 350%. Revenue should be $110 billion by 2027.\nThe current and expected market capacity does not allow the company to demonstrate such financial performance.\nIn our opinion, the current price of Virgin Galactic can only be explained by irrational exuberance.\nThe market can remain irrational longer than you can remain solvent, so we do not short, we only watch the company from the sideline.\n\n\n The Markets Can Remain Irrational Longer Than You Can Remain Solvent. - John Maynard Keynes\n\nThesis\nCould a German fugitive who tried to cross the Jornada del Muerto in the dry season of 1670 imagine that a few hundred years later, next to his vulture-torn remains, an eccentric British billionaire would be paving the way into the world of space tourism? Hardly. Thanks to human genius and the free market, we are living in an amazing time. And do not underestimate the role of the latter.\nThe financial industry is like a circulatory system for a market organism. Driven by human greed, it distributes resources from old established industries to the most promising sectors of the new economy. It was like this before, and so it is now. The reason why investors are ready to abandon investments in a profitable established company in favor of investments in a loss-making business in an unformed industry is quite understandable. We are ready to release the bird from our hands only if we expect that in the bush there will be not two birds, but 22. But our expectations must be justified. In our opinion, the current price of Virgin Galactic can only be explained by irrational exuberance.\nValuation And Perspectives\nWe usually evaluate a business based on the expected financial results that the company will be able to achieve in the future. With Virgin Galactic(NYSE:SPCE), we decided to go the opposite way. We tried to determine what the financial indicators of the company should be in order for the current price to look fair.\nThe value of any asset is determined by the present value of its future cash flows. This is an axiom of finance that is often criticized by unsophisticated investors. Indeed, if your investment strategy is based on the hope that someone will definitely agree to pay more for an asset than you pay for it, then the value of the asset is not important. If your friend writes you a bill of exchange and there is a buyer who is always ready to pay for this bill above par, then solvency and interest are unlikely to worry you. However, if there is no such buyer, you will turn into a demanding lender who will carefully compare the interest on a bill of exchange with the value of money and include all possible risks in the interest rate. In other words, you will begin to discount the cash flow.\nThe weighted average cost of capital for the SPCE is not difficult to determine. Today the company's assets are 56% financed by equity capital, and there is no debt burden. The company's balance sheet as at the last reporting date is presented below:\n\n(Source:Company's IR)\nAccording to our calculation, the company's cost of capital is 9%. Given that Virgin has a low leverage, the weighted average cost of capital is also 9%.\n\n(Source: Created by the author)\nThus, if Virgin Galactic's current market cap is fair, the company's free cash flow from 2022 to 2027 should look like this:\n\n(Source: Created by the author)\nIt is difficult to estimate the potential profitability of a business that does not yet exist. However, we can roughly define it. The company's cost of revenue includes costs related to rocket fuel consumption, salaries and benefits for pilots and ground crew, and maintenance. Virgin conducted its second test flight in February 2019. At the end of the first quarter of 2019, the company reflected in the reporting $1 million Cost of revenue, at the end of the first quarter of 2020, SPCE reflected $ 173 thousand in cost of revenue. According to the report, the change in cost of revenue is primarily due to the costs for flying payload in Q1 2019.\n\n(Source:Company's IR)\nThus, we can determine that the estimated cost of launching one spaceship is $800 thousand dollars. With a ticket price of $200,000, the expected revenue per flight will be $1,200,000. As with the airline business, Virgin's key costs are cost of revenue. If the company can achieve an LFCF margin of 10% (slightly better than that of the most marginal US airlines), then the dynamics of revenue should take the following form:\n\n(Source: Created by the author)\nIn an interview withCNBC, CEO Michael Colglazier said he expects each spaceport to generate $1 billion for the company. Thus, to justify the current price, the company needs to build 110 spaceports and sell 275 thousand tickets for 400 thousand dollars each (in the same interview, the CEO said that each spaceport will have 400 flights a year, that is, with a revenue of $1 billion, the price 1 ticket must be equal to $400 thousand). As a reminder,according to UBS, space tourism will be a $3 billion market by 2030. Thus, the current capitalization of the company cannot be explained by any reasonable expectations.\nConclusion\nVirgin Galactic could be good business one day. However, in our opinion the current capitalization cannot be explained by any reasonable expectations. For the current estimate to be justified, the company needs to sell $ 110 billion worth of tickets by 2027. Which is impossible given the current and expected market capacity. However, we do not short because the company is attracting a lot of attention. As John Maynard Keynes said, the market can remain irrational longer than you can remain solvent. We will watch the company from the sideline.","news_type":1},"isVote":1,"tweetType":1,"viewCount":614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124444469,"gmtCreate":1624785800551,"gmtModify":1703845141027,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Will nio be the better bet?","listText":"Will nio be the better bet?","text":"Will nio be the better bet?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/124444469","repostId":"1137119316","repostType":4,"repost":{"id":"1137119316","pubTimestamp":1624754401,"share":"https://ttm.financial/m/news/1137119316?lang=&edition=fundamental","pubTime":"2021-06-27 08:40","market":"us","language":"en","title":"Ford Or NIO? The Final Verdict","url":"https://stock-news.laohu8.com/highlight/detail?id=1137119316","media":"seekingalpha","summary":"I am comparing Ford against NIO in different categories.The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.NIO is growing a lot faster than Ford and the high valuation may be justified.With Ford  launching a major offensive in the market for electric vehicles, Chinese EV maker NIO  will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based ","content":"<p><b>Summary</b></p>\n<ul>\n <li>I am comparing Ford against NIO in different categories.</li>\n <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>\n <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p>\n<p>With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p>\n<p><b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p>\n<p>Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p>\n<p><b>Market opportunity</b></p>\n<p>In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p>\n<p>China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p>\n<p>Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p>\n<p>Turning to growth projections.</p>\n<p>With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p>\n<p>Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p>\n<p><b>Scale and manufacturing competence</b></p>\n<p>Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p>\n<p>Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p>\n<p>Winner here: Ford.</p>\n<p><b>Differentiation and BaaS revenue model</b></p>\n<p>Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p>\n<p>Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p>\n<p>The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p>\n<p>The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p>\n<p>Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p>\n<p>Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p>\n<p>The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p>\n<p><b>Sales growth and valuation</b></p>\n<p>Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p>\n<p>Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p>\n<p>The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p>\n<p>Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p>\n<p><b>NIO has larger risks...</b></p>\n<p>NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p>\n<p><b>Final verdict</b></p>\n<p>NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p>\n<p>Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p>\n<p>If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</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>Ford Or NIO? 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The Final Verdict\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-27 08:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nI am comparing Ford against NIO in different categories.\nThe comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"F":"福特汽车","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137119316","content_text":"Summary\n\nI am comparing Ford against NIO in different categories.\nThe comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.\nNIO is growing a lot faster than Ford and the high valuation may be justified.\n\npeterschreiber.media/iStock via Getty Images\nWith Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.\nFord vs. NIO: The battle for the global electric vehicle market is heating up\nAlthough there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing $30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.\nMarket opportunity\nIn 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.\n(Source: Wikipedia)\nChina, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is on the cusp of entering the European market in a bid to grow market share in the world’s second-largest EV market before the competition is ready.\nBeijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a twenty percent share of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.\n(Source:Schroders)\nTurning to growth projections.\nWith more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.\n(Source:McKinsey)\nSince China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.\nScale and manufacturing competence\nFord has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.\nSince NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.\nWinner here: Ford.\nDifferentiation and BaaS revenue model\nBoth Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.\nFord is forming a joint venture with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has formed its own joint venture to secure battery supply.\nThe difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.\nThe BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.\nFord and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.\nBattery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.\n(Source: Schroders)\nThe “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.\nSales growth and valuation\nFord’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.\nFord's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.\nData by YCharts\nThe difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!\nDue to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.\n(Source: Author)\nNIO has larger risks...\nNIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.\nFinal verdict\nNIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.\nFord’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.\nIf you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.","news_type":1},"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128673769,"gmtCreate":1624515970651,"gmtModify":1703839044460,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Does it means&nbsp;good value ?","listText":"Does it means&nbsp;good value ?","text":"Does it means good value ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/128673769","repostId":"1187067912","repostType":4,"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3571345352614779","authorId":"3571345352614779","name":"xiaobaii","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3571345352614779","idStr":"3571345352614779"},"content":"Kindly Like & Comment Please, Thank You Very Much","text":"Kindly Like & Comment Please, Thank You Very Much","html":"Kindly Like & Comment Please, Thank You Very Much"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120793875,"gmtCreate":1624336134497,"gmtModify":1703833833369,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Is this considered inflation coming?","listText":"Is this considered inflation coming?","text":"Is this considered inflation coming?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/120793875","repostId":"1184835150","repostType":4,"repost":{"id":"1184835150","pubTimestamp":1624331221,"share":"https://ttm.financial/m/news/1184835150?lang=&edition=fundamental","pubTime":"2021-06-22 11:07","market":"fut","language":"en","title":"Brent Oil Edges Above $75 as Investors Assess Tightening Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1184835150","media":"Bloomberg","summary":"Brent oil hit $75 a barrel for the first time in more than two years amid signs of a rapidly tighten","content":"<p>Brent oil hit $75 a barrel for the first time in more than two years amid signs of a rapidly tightening market.</p>\n<p>Futures in London edged above that mark in early Asian trading after rising 1.9% in the previous session, the most in four weeks. The market continues to firm in a bullish structure, with one timespread for West Texas Intermediate expanding to thewidestbackwardation in seven years. Genscape Inc. reported stockpiles at the key American storage hub of Cushing fell again last week from the lowest level since March 2020, according to people familiar.</p>\n<p><img src=\"https://static.tigerbbs.com/a18ab840ab7ec2290e6d5470cb1883fc\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p>\n<p>Brent oil has rallied more than 40% this year as a strong rebound from the pandemic in the U.S., China and Europe underpins increasing fuel consumption, although a virus comeback in parts of Asia is a reminder that the recovery will be uneven. The global crude benchmark may even advance to$100 a barrelnext year as travel demand rebounds, according to Bank of America Corp.</p>\n<p>“Demand optimism is now well established and a tightening of the market is very much in the spotlight,” said Vandana Hari, the founder of Vanda Insights. “If there is a pause in this rally, it will likely come from the supply side.”</p>\n<p>One bit of bearish news amid all the optimism is China’scrackdownon the nation’s private refiners. Asecond batchof 2021 crude import quotas allocated to the independents was about 35% less than last year, which will crimp flows into a sector that accounts for around a quarter of Chinese processing capacity.</p>\n<table>\n <tbody>\n  <tr>\n   <th>PRICES</th>\n  </tr>\n  <tr>\n   <td>\n    <ul>\n     <li>Brent for August settlement rose as much as 0.3% to $75.15 on the ICE Futures Europe exchange, the highest intraday level since April 2019, before easing to $75.09 at 9:50 a.m. in Singapore.</li>\n     <li>The prompt timespread for Brent was 86 cents in backwardation, compared with 57 cents at the start of last week.</li>\n     <li>WTI for July delivery, which expires Tuesday, gained 0.1% to $73.75 a barrel on the New York Mercantile Exchange.</li>\n    </ul></td>\n  </tr>\n </tbody>\n</table>\n<p>The premium traders are placing on WTI for September delivery over October contracts touched $1.12 a barrel on Monday. Before this, the gap between the third- and fourth-closest contracts had only traded above $1 over two periods in the past 13 years -- in 2008 and from mid-2013 to mid-2014.</p>\n<p>U.S. crude stockpiles, meanwhile, dropped by 3.5 million barrels last week, according to the median estimate in a Bloomberg survey. If confirmed by government data on Wednesday, it would be a fifth weekly decline.</p>\n<p>The increasingly bullish outlook for oil is adding pressure on the OPEC+ alliance led by Saudi Arabia and Russia, which meets next week to consider reviving more of the production it curbed during the pandemic.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Brent Oil Edges Above $75 as Investors Assess Tightening Market</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\">\nBrent Oil Edges Above $75 as Investors Assess Tightening Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 11:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-21/oil-steadies-after-surge-as-investors-assess-tightening-market><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Brent oil hit $75 a barrel for the first time in more than two years amid signs of a rapidly tightening market.\nFutures in London edged above that mark in early Asian trading after rising 1.9% in the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-21/oil-steadies-after-surge-as-investors-assess-tightening-market\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-21/oil-steadies-after-surge-as-investors-assess-tightening-market","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184835150","content_text":"Brent oil hit $75 a barrel for the first time in more than two years amid signs of a rapidly tightening market.\nFutures in London edged above that mark in early Asian trading after rising 1.9% in the previous session, the most in four weeks. The market continues to firm in a bullish structure, with one timespread for West Texas Intermediate expanding to thewidestbackwardation in seven years. Genscape Inc. reported stockpiles at the key American storage hub of Cushing fell again last week from the lowest level since March 2020, according to people familiar.\n\nBrent oil has rallied more than 40% this year as a strong rebound from the pandemic in the U.S., China and Europe underpins increasing fuel consumption, although a virus comeback in parts of Asia is a reminder that the recovery will be uneven. The global crude benchmark may even advance to$100 a barrelnext year as travel demand rebounds, according to Bank of America Corp.\n“Demand optimism is now well established and a tightening of the market is very much in the spotlight,” said Vandana Hari, the founder of Vanda Insights. “If there is a pause in this rally, it will likely come from the supply side.”\nOne bit of bearish news amid all the optimism is China’scrackdownon the nation’s private refiners. Asecond batchof 2021 crude import quotas allocated to the independents was about 35% less than last year, which will crimp flows into a sector that accounts for around a quarter of Chinese processing capacity.\n\n\n\nPRICES\n\n\n\n\nBrent for August settlement rose as much as 0.3% to $75.15 on the ICE Futures Europe exchange, the highest intraday level since April 2019, before easing to $75.09 at 9:50 a.m. in Singapore.\nThe prompt timespread for Brent was 86 cents in backwardation, compared with 57 cents at the start of last week.\nWTI for July delivery, which expires Tuesday, gained 0.1% to $73.75 a barrel on the New York Mercantile Exchange.\n\n\n\n\nThe premium traders are placing on WTI for September delivery over October contracts touched $1.12 a barrel on Monday. Before this, the gap between the third- and fourth-closest contracts had only traded above $1 over two periods in the past 13 years -- in 2008 and from mid-2013 to mid-2014.\nU.S. crude stockpiles, meanwhile, dropped by 3.5 million barrels last week, according to the median estimate in a Bloomberg survey. If confirmed by government data on Wednesday, it would be a fifth weekly decline.\nThe increasingly bullish outlook for oil is adding pressure on the OPEC+ alliance led by Saudi Arabia and Russia, which meets next week to consider reviving more of the production it curbed during the pandemic.","news_type":1},"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801730339,"gmtCreate":1627533244421,"gmtModify":1703491850333,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"old&nbsp;news that has already digested by the&nbsp;market but&nbsp;yet can create a great impact to market volatility&nbsp;.&nbsp;","listText":"old&nbsp;news that has already digested by the&nbsp;market but&nbsp;yet can create a great impact to market volatility&nbsp;.&nbsp;","text":"old news that has already digested by the market but yet can create a great impact to market volatility .","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/801730339","repostId":"1127264445","repostType":4,"repost":{"id":"1127264445","pubTimestamp":1627514621,"share":"https://ttm.financial/m/news/1127264445?lang=&edition=fundamental","pubTime":"2021-07-29 07:23","market":"us","language":"en","title":"S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1127264445","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after th","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> said the central bank was still a ways away from considering raising interest rates.</p>\n<p>Keeping the market in check, shares of tech giant <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc fell 1.2% after it forecast slowing revenue growth.</p>\n<p>In a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks.</p>\n<p>“It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz &amp; Associates Inc, an investment advisory firm based in Toledo, Ohio.</p>\n<p>Right after the Fed statement, the S&amp;P 500 index reversed slight declines though it still ended a hair lower on the day.</p>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> have been worried about how rising inflation and a spike in COVID-19 cases might impact the central bank’s plan to potentially start withdrawing its stimulus.</p>\n<p>The central bank also said that higher inflation remained the result of “transitory factors.” The Fed kept its overnight benchmark interest rate near zero and left unchanged its bond-buying program.</p>\n<p>The <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> ended higher and shares of Google parent <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc hit an all-time high as a surge in advertising spending helped it post record quarterly results. The stock ended up 3.2%.</p>\n<p>The Dow Jones Industrial Average fell 127.59 points, or 0.36%, to 34,930.93, the S&amp;P 500 lost 0.82 point, or 0.02%, to 4,400.64 and the Nasdaq Composite added 102.01 points, or 0.7%, to 14,762.58.</p>\n<p>The Fed’s statement came at the conclusion of its latest two-day policy meeting.</p>\n<p>“They had a chance to signal they were going to become more hawkish and they chose not to take it. The most important thing is they are predictable and they are remaining predictable,” said Ellen Hazen, portfolio manager at F.L. Putnam Investment Management in <a href=\"https://laohu8.com/S/WEBK\">Wellesley</a>, Massachusetts.</p>\n<p>In other earnings news, <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp ended down 0.1% even as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.</p>\n<p>Volume on U.S. exchanges was 9.86 billion shares, compared with a similar average for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.85-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 44 new highs and 67 new lows.</p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-29 07:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome Powell said the ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","UPRO":"三倍做多标普500ETF",".DJI":"道琼斯","OEF":"标普100指数ETF-iShares","SH":"标普500反向ETF","SSO":"两倍做多标普500ETF",".IXIC":"NASDAQ Composite","SDS":"两倍做空标普500ETF","SPY":"标普500ETF",".SPX":"S&P 500 Index","OEX":"标普100","IVV":"标普500指数ETF","SPXU":"三倍做空标普500ETF"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127264445","content_text":"NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome Powell said the central bank was still a ways away from considering raising interest rates.\nKeeping the market in check, shares of tech giant Apple Inc fell 1.2% after it forecast slowing revenue growth.\nIn a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks.\n“It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz & Associates Inc, an investment advisory firm based in Toledo, Ohio.\nRight after the Fed statement, the S&P 500 index reversed slight declines though it still ended a hair lower on the day.\nInvestors have been worried about how rising inflation and a spike in COVID-19 cases might impact the central bank’s plan to potentially start withdrawing its stimulus.\nThe central bank also said that higher inflation remained the result of “transitory factors.” The Fed kept its overnight benchmark interest rate near zero and left unchanged its bond-buying program.\nThe Nasdaq ended higher and shares of Google parent Alphabet Inc hit an all-time high as a surge in advertising spending helped it post record quarterly results. The stock ended up 3.2%.\nThe Dow Jones Industrial Average fell 127.59 points, or 0.36%, to 34,930.93, the S&P 500 lost 0.82 point, or 0.02%, to 4,400.64 and the Nasdaq Composite added 102.01 points, or 0.7%, to 14,762.58.\nThe Fed’s statement came at the conclusion of its latest two-day policy meeting.\n“They had a chance to signal they were going to become more hawkish and they chose not to take it. The most important thing is they are predictable and they are remaining predictable,” said Ellen Hazen, portfolio manager at F.L. Putnam Investment Management in Wellesley, Massachusetts.\nIn other earnings news, Microsoft Corp ended down 0.1% even as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.\nVolume on U.S. exchanges was 9.86 billion shares, compared with a similar average for the full session over the last 20 trading days.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.85-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored advancers.\nThe S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 44 new highs and 67 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179763032,"gmtCreate":1626577925526,"gmtModify":1703761956748,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Any negative news will cost the market to go south. It is always good to plan for the worst and&nbsp;hope for the&nbsp;best.&nbsp;","listText":"Any negative news will cost the market to go south. It is always good to plan for the worst and&nbsp;hope for the&nbsp;best.&nbsp;","text":"Any negative news will cost the market to go south. It is always good to plan for the worst and hope for the best.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/179763032","repostId":"1149577900","repostType":4,"repost":{"id":"1149577900","pubTimestamp":1626483617,"share":"https://ttm.financial/m/news/1149577900?lang=&edition=fundamental","pubTime":"2021-07-17 09:00","market":"us","language":"en","title":"Don't Fear A Stock Market Crash","url":"https://stock-news.laohu8.com/highlight/detail?id=1149577900","media":"seekingalpha","summary":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push ","content":"<p>Summary</p>\n<ul>\n <li>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.</li>\n <li>There are four main factors that this market exhibits that have the potential to cause a crash.</li>\n <li>Those factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.</li>\n <li>Preparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.</li>\n <li>A crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.</li>\n</ul>\n<p>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.</p>\n<p>An Abundance of 'Warnings'</p>\n<p>Simply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.</p>\n<ul>\n <li>Harry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.</li>\n <li>Jeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.</li>\n <li>John Hussmanhas warned that valuations are extreme, and called for the S&amp;P 500 to see 12 years of negative returns ahead and a &gt;60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"</li>\n</ul>\n<p>Yet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&amp;P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.</p>\n<p>Four Factors</p>\n<p>While there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.</p>\n<p>Excessive Speculation</p>\n<p>Speculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.</p>\n<p>While single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.</p>\n<p><img src=\"https://static.tigerbbs.com/dccc290398aed22a11cf41ae63a85bce\" tg-width=\"624\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p>\n<p>Margin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.</p>\n<p>Back in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.</p>\n<p>Speculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.</p>\n<p>Growth Slowdown</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/034a916ba93dac9b099409c5906bee37\" tg-width=\"631\" tg-height=\"563\" referrerpolicy=\"no-referrer\"><span>Graphic fromWeForumvia Statista</span></p>\n<p>The economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.</p>\n<p>Unemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.</p>\n<p>The market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.</p>\n<p>Peak Valuations</p>\n<p>Arguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/388dd5417e610209de84d8a86ca86f91\" tg-width=\"624\" tg-height=\"351\" referrerpolicy=\"no-referrer\"><span>Graphic fromBloomberg</span></p>\n<p>February and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising &gt;100% on rumors of mergers, only to fall &gt;50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.</p>\n<p>SPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6a5ace269e2c48c6ad6bb5180ce32e48\" tg-width=\"635\" tg-height=\"535\" referrerpolicy=\"no-referrer\"><span>Data byYCharts</span></p>\n<p>Tech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.</p>\n<p>But these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&amp;P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/136219a2e6ea016fd91597c989fa1a9e\" tg-width=\"624\" tg-height=\"312\" referrerpolicy=\"no-referrer\"><span>Graphic fromCurrent Market Valuation</span></p>\n<p>And as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8ab71b923769effdde5d09e1d3cd3fd\" tg-width=\"624\" tg-height=\"354\" referrerpolicy=\"no-referrer\"><span>Graphic fromBusiness Insider</span></p>\n<p>Low Interest Rates</p>\n<p>The fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.</p>\n<p>When interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e8cb16f3b4b962cfa8adbffa4127b92\" tg-width=\"960\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Graphic fromJP Morgan</span></p>\n<p>Although rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.</p>\n<p>Is It Time To Prepare?</p>\n<p>Signs and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims of<i>x%</i>drops in<i>x</i>month are speculative in nature, unless that individual knows something unknown to the rest of the market.</p>\n<p>When facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like&nbsp;SPY&nbsp;and&nbsp;DIA&nbsp;could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.<i>Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.</i></p>\n<p>Again, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Don't Fear A Stock Market Crash</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\">\nDon't Fear A Stock Market Crash\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-17 09:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1149577900","content_text":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the potential to cause a crash.\nThose factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.\nPreparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.\nA crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.\nAn Abundance of 'Warnings'\nSimply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.\n\nHarry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.\nJeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.\nJohn Hussmanhas warned that valuations are extreme, and called for the S&P 500 to see 12 years of negative returns ahead and a >60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"\n\nYet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.\nFour Factors\nWhile there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.\nExcessive Speculation\nSpeculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.\nWhile single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.\n\nMargin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.\nBack in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.\nSpeculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.\nGrowth Slowdown\nGraphic fromWeForumvia Statista\nThe economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.\nUnemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.\nThe market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.\nPeak Valuations\nArguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.\nGraphic fromBloomberg\nFebruary and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising >100% on rumors of mergers, only to fall >50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.\nSPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.\nData byYCharts\nTech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.\nBut these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.\nGraphic fromCurrent Market Valuation\nAnd as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.\nGraphic fromBusiness Insider\nLow Interest Rates\nThe fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.\nWhen interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.\nGraphic fromJP Morgan\nAlthough rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.\nIs It Time To Prepare?\nSigns and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims ofx%drops inxmonth are speculative in nature, unless that individual knows something unknown to the rest of the market.\nWhen facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like SPY and DIA could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.\nAgain, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.","news_type":1},"isVote":1,"tweetType":1,"viewCount":484,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157068652,"gmtCreate":1625554789076,"gmtModify":1703743596576,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"When is a good time to buy&nbsp;didi","listText":"When is a good time to buy&nbsp;didi","text":"When is a good time to buy didi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/157068652","repostId":"2149466331","repostType":4,"isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574754838536636","authorId":"3574754838536636","name":"Ameliakoh","avatar":"https://static.tigerbbs.com/4a747ab791603fb0a649736b10ec7454","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574754838536636","idStr":"3574754838536636"},"content":"When you are ready ?","text":"When you are ready ?","html":"When you are ready ?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180654384,"gmtCreate":1623203058348,"gmtModify":1704198250552,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Will it go further?","listText":"Will it go further?","text":"Will it go further?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/180654384","repostId":"1128909306","repostType":4,"repost":{"id":"1128909306","pubTimestamp":1623193560,"share":"https://ttm.financial/m/news/1128909306?lang=&edition=fundamental","pubTime":"2021-06-09 07:06","market":"us","language":"en","title":"S&P 500 closes little changed as \"meme stocks\" extend rally","url":"https://stock-news.laohu8.com/highlight/detail?id=1128909306","media":"reuters","summary":"NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of c","content":"<p>NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.</p><p>All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&amp;P 500 and the Dow closing within about 0.5% of record highs.</p><p>The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.</p><p>“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”</p><p>“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.</p><p>The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.</p><p>Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.</p><p>Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.</p><p>Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath &amp; Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.</p><p>“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”</p><p>Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.</p><p>Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.</p><p>The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&amp;P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.</p><p>Of the 11 major sectors in the S&amp;P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.</p><p>Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.</p><p>Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.</p><p>GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.</p><p>Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.</p><p>Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.</p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 closes little changed as \"meme stocks\" extend rally</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 closes little changed as \"meme stocks\" extend rally\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-closes-little-changed-as-meme-stocks-extend-rally-idUSL2N2NQ2NX><strong>reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-closes-little-changed-as-meme-stocks-extend-rally-idUSL2N2NQ2NX\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","CLOV":"Clover Health Corp",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-closes-little-changed-as-meme-stocks-extend-rally-idUSL2N2NQ2NX","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128909306","content_text":"NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&P 500 and the Dow closing within about 0.5% of record highs.The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath & Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.Of the 11 major sectors in the S&P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.The S&P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":94,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804531926,"gmtCreate":1627963100065,"gmtModify":1703498708336,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Looks like hydrogen EV is another great&nbsp;option if they can overcome the manufacturing cost to produce.&nbsp;","listText":"Looks like hydrogen EV is another great&nbsp;option if they can overcome the manufacturing cost to produce.&nbsp;","text":"Looks like hydrogen EV is another great option if they can overcome the manufacturing cost to produce.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/804531926","repostId":"1128689143","repostType":4,"isVote":1,"tweetType":1,"viewCount":315,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122906561,"gmtCreate":1624590998553,"gmtModify":1703841188491,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Is it worth to take up Sembcorp marine&nbsp;right issue?","listText":"Is it worth to take up Sembcorp marine&nbsp;right issue?","text":"Is it worth to take up Sembcorp marine right issue?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/122906561","repostId":"2146102197","repostType":4,"isVote":1,"tweetType":1,"viewCount":376,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169118328,"gmtCreate":1623821247464,"gmtModify":1703820521280,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Is coming….","listText":"Is coming….","text":"Is coming….","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/169118328","repostId":"1185142374","repostType":4,"repost":{"id":"1185142374","pubTimestamp":1623811255,"share":"https://ttm.financial/m/news/1185142374?lang=&edition=fundamental","pubTime":"2021-06-16 10:40","market":"us","language":"en","title":"The Fed Should Talk About Tapering. Here’s What Could Happen to the Stock Market.","url":"https://stock-news.laohu8.com/highlight/detail?id=1185142374","media":"Barrons","summary":"Investors expect the Federal Reserve to remain supportive of the economy and financial markets. But ","content":"<p>Investors expect the Federal Reserve to remain supportive of the economy and financial markets. But the central bank has limited margin for error, and any miscues on messaging could be costly to the stock market.</p>\n<p>Markets do not expect the Fed to make any sudden or drastic changes to its current easy-money policy. The 10-year Treasury bond’s yield has fallen to 1.51% from 1.64% a month ago, even as inflation has run hotter than expected. The Nasdaq 100, an index of large capitalization and fast-growing technology companies,is up more than 5% in the past month. Growth stocks see a significant valuation booster when long-dated bond yields remain low, as growth companies expect growing profits on a particularly long-term basis. But while&nbsp;investors expect the Fed to soon reduce the size of its bond-buying program, which would raise bond prices and lower their yields, most don’t think the Fed will do so immediately or drastically.</p>\n<p>“It’s pretty clear that the market expects Fed Chair Powell to strongly reiterate his stances,” writes Chris Senyek, chief investment strategist at Wolfe Research.</p>\n<p>Now, the Fed could stoke a harsh move downwards in tech stocks if it doesn’t choose its words wisely. With the Nasdaq 100 hovering just below a new all-time high set on June 14—accompanied with a 10-year Treasury bond yield that’s well below its 2021 peak of 1.75%—tech stocks are vulnerable to a downward jolt if the Fed misspeaks. Senyek notes that the Fed may indeed be more ready to taper—or reduce the size of its bond-buying program—than some appreciate. He cites the&nbsp;recently hot inflation. To be sure, most market participants see&nbsp;inflation as transitory, a result of a natural year-over-year bounce from low prices during last year’s lockdown. Even so, if the Fed speaks in a way that indicates it will begin tapering before the end of the year—which is the expected timing—stocks could fall sharply.</p>\n<p>“With both stocks and bonds currently ‘priced for perfection,’ the slightest miscommunication could spark a sharp selloff,” says Senyek, who cites the Nasdsaq 100’s recent rise.</p>\n<p>Watch to see if the Fed is about to begin tapering, or is merely considering the move in the coming quarters.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Fed Should Talk About Tapering. Here’s What Could Happen to the Stock Market.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Fed Should Talk About Tapering. Here’s What Could Happen to the Stock Market.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 10:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-fed-tapering-stock-market-51623777984?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors expect the Federal Reserve to remain supportive of the economy and financial markets. But the central bank has limited margin for error, and any miscues on messaging could be costly to the ...</p>\n\n<a href=\"https://www.barrons.com/articles/the-fed-tapering-stock-market-51623777984?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/the-fed-tapering-stock-market-51623777984?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185142374","content_text":"Investors expect the Federal Reserve to remain supportive of the economy and financial markets. But the central bank has limited margin for error, and any miscues on messaging could be costly to the stock market.\nMarkets do not expect the Fed to make any sudden or drastic changes to its current easy-money policy. The 10-year Treasury bond’s yield has fallen to 1.51% from 1.64% a month ago, even as inflation has run hotter than expected. The Nasdaq 100, an index of large capitalization and fast-growing technology companies,is up more than 5% in the past month. Growth stocks see a significant valuation booster when long-dated bond yields remain low, as growth companies expect growing profits on a particularly long-term basis. But while investors expect the Fed to soon reduce the size of its bond-buying program, which would raise bond prices and lower their yields, most don’t think the Fed will do so immediately or drastically.\n“It’s pretty clear that the market expects Fed Chair Powell to strongly reiterate his stances,” writes Chris Senyek, chief investment strategist at Wolfe Research.\nNow, the Fed could stoke a harsh move downwards in tech stocks if it doesn’t choose its words wisely. With the Nasdaq 100 hovering just below a new all-time high set on June 14—accompanied with a 10-year Treasury bond yield that’s well below its 2021 peak of 1.75%—tech stocks are vulnerable to a downward jolt if the Fed misspeaks. Senyek notes that the Fed may indeed be more ready to taper—or reduce the size of its bond-buying program—than some appreciate. He cites the recently hot inflation. To be sure, most market participants see inflation as transitory, a result of a natural year-over-year bounce from low prices during last year’s lockdown. Even so, if the Fed speaks in a way that indicates it will begin tapering before the end of the year—which is the expected timing—stocks could fall sharply.\n“With both stocks and bonds currently ‘priced for perfection,’ the slightest miscommunication could spark a sharp selloff,” says Senyek, who cites the Nasdsaq 100’s recent rise.\nWatch to see if the Fed is about to begin tapering, or is merely considering the move in the coming quarters.","news_type":1},"isVote":1,"tweetType":1,"viewCount":55,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807558883,"gmtCreate":1628045187242,"gmtModify":1703500190379,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"That’s very helpful?","listText":"That’s very helpful?","text":"That’s very helpful?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807558883","repostId":"1175010735","repostType":4,"isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808727590,"gmtCreate":1627611897810,"gmtModify":1703493350441,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Keep going","listText":"Keep going","text":"Keep going","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808727590","repostId":"2155184148","repostType":4,"repost":{"id":"2155184148","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627600545,"share":"https://ttm.financial/m/news/2155184148?lang=&edition=fundamental","pubTime":"2021-07-30 07:15","market":"us","language":"en","title":"Wall St gains with upbeat earnings and forecasts","url":"https://stock-news.laohu8.com/highlight/detail?id=2155184148","media":"Reuters","summary":"NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings ","content":"<p>NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.</p>\n<p>The U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.</p>\n<p>Among the latest upbeat earnings news, shares of Ford Motor Co jumped 3.8% as the company lifted its profit forecast for the year, while KFC owner Yum Brands Inc rose 6.3% after it beat expectations for quarterly sales.</p>\n<p>The day's lower than expected economic data may have calmed a bit of investor angst that the Federal Reserve's \"easy money policy\" may be going away soon, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Investors also saw \"some pretty good earnings today,\" he said.</p>\n<p>Stocks got a boost on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus.</p>\n<p>Economically sensitive groups including financials , materials and energy led S&amp;P sector gains on Thursday.</p>\n<p>The Dow Jones Industrial Average rose 153.6 points, or 0.44%, to 35,084.53, the S&amp;P 500 gained 18.51 points, or 0.42%, to 4,419.15 and the Nasdaq Composite added 15.68 points, or 0.11%, to 14,778.26.</p>\n<p>The Dow and S&amp;P 500 hit intraday record highs early in the session.</p>\n<p>The S&amp;P 500 real estate sector hit a record intraday high as well, but ended down 0.2%.</p>\n<p>On the down side, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc shares fell 4% as the company warned revenue growth would \"decelerate significantly\" following Apple Inc's recent update to its iOS operating system that would impact the social media giant's ability to target ads.</p>\n<p>Results were in from about half of the S&amp;P 500 companies as of Thursday morning. Nearly 91% of the reports have beaten profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.</p>\n<p>After the bell, shares of Amazon.com Inc were down more than 5% after the company reported results and forecast third-quarter sales below Wall Street expectations.</p>\n<p>During the regular session, Tesla Inc jumped 4.7% and was the biggest boost to the S&amp;P 500 , followed by Apple, which rose after Wednesday's declines.</p>\n<p>Also, shares of Robinhood Markets Inc, the popular trading app used by many investors to participate in this year's \"meme\" stock trading frenzy, ended down 8.4% on their first day of trading.</p>\n<p>With rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.</p>\n<p>Volume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St gains with upbeat earnings and forecasts</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\">\nWall St gains with upbeat earnings and forecasts\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-30 07:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.</p>\n<p>The U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.</p>\n<p>Among the latest upbeat earnings news, shares of Ford Motor Co jumped 3.8% as the company lifted its profit forecast for the year, while KFC owner Yum Brands Inc rose 6.3% after it beat expectations for quarterly sales.</p>\n<p>The day's lower than expected economic data may have calmed a bit of investor angst that the Federal Reserve's \"easy money policy\" may be going away soon, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Investors also saw \"some pretty good earnings today,\" he said.</p>\n<p>Stocks got a boost on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus.</p>\n<p>Economically sensitive groups including financials , materials and energy led S&amp;P sector gains on Thursday.</p>\n<p>The Dow Jones Industrial Average rose 153.6 points, or 0.44%, to 35,084.53, the S&amp;P 500 gained 18.51 points, or 0.42%, to 4,419.15 and the Nasdaq Composite added 15.68 points, or 0.11%, to 14,778.26.</p>\n<p>The Dow and S&amp;P 500 hit intraday record highs early in the session.</p>\n<p>The S&amp;P 500 real estate sector hit a record intraday high as well, but ended down 0.2%.</p>\n<p>On the down side, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc shares fell 4% as the company warned revenue growth would \"decelerate significantly\" following Apple Inc's recent update to its iOS operating system that would impact the social media giant's ability to target ads.</p>\n<p>Results were in from about half of the S&amp;P 500 companies as of Thursday morning. Nearly 91% of the reports have beaten profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.</p>\n<p>After the bell, shares of Amazon.com Inc were down more than 5% after the company reported results and forecast third-quarter sales below Wall Street expectations.</p>\n<p>During the regular session, Tesla Inc jumped 4.7% and was the biggest boost to the S&amp;P 500 , followed by Apple, which rose after Wednesday's declines.</p>\n<p>Also, shares of Robinhood Markets Inc, the popular trading app used by many investors to participate in this year's \"meme\" stock trading frenzy, ended down 8.4% on their first day of trading.</p>\n<p>With rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.</p>\n<p>Volume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155184148","content_text":"NEW YORK, July 29 (Reuters) - U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.\nThe U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected.\nAmong the latest upbeat earnings news, shares of Ford Motor Co jumped 3.8% as the company lifted its profit forecast for the year, while KFC owner Yum Brands Inc rose 6.3% after it beat expectations for quarterly sales.\nThe day's lower than expected economic data may have calmed a bit of investor angst that the Federal Reserve's \"easy money policy\" may be going away soon, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. Investors also saw \"some pretty good earnings today,\" he said.\nStocks got a boost on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus.\nEconomically sensitive groups including financials , materials and energy led S&P sector gains on Thursday.\nThe Dow Jones Industrial Average rose 153.6 points, or 0.44%, to 35,084.53, the S&P 500 gained 18.51 points, or 0.42%, to 4,419.15 and the Nasdaq Composite added 15.68 points, or 0.11%, to 14,778.26.\nThe Dow and S&P 500 hit intraday record highs early in the session.\nThe S&P 500 real estate sector hit a record intraday high as well, but ended down 0.2%.\nOn the down side, Facebook Inc shares fell 4% as the company warned revenue growth would \"decelerate significantly\" following Apple Inc's recent update to its iOS operating system that would impact the social media giant's ability to target ads.\nResults were in from about half of the S&P 500 companies as of Thursday morning. Nearly 91% of the reports have beaten profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.\nAfter the bell, shares of Amazon.com Inc were down more than 5% after the company reported results and forecast third-quarter sales below Wall Street expectations.\nDuring the regular session, Tesla Inc jumped 4.7% and was the biggest boost to the S&P 500 , followed by Apple, which rose after Wednesday's declines.\nAlso, shares of Robinhood Markets Inc, the popular trading app used by many investors to participate in this year's \"meme\" stock trading frenzy, ended down 8.4% on their first day of trading.\nWith rising inflation and concerns that higher prices would not be as transient as expected, focus on Friday will be on the June reading of the personal consumption expenditures price index.\nVolume on U.S. exchanges was 9.13 billion shares, compared with the average of about 9.86 billion for the full session over the last 20 trading days.\nAdvancing issues outnumbered declining ones on the NYSE by a 2.34-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored advancers.\nThe S&P 500 posted 76 new 52-week highs and 1 new low; the Nasdaq Composite recorded 105 new highs and 49 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186151327,"gmtCreate":1623480040769,"gmtModify":1704204822687,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Trader &amp; investor","listText":"Trader &amp; investor","text":"Trader & investor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186151327","repostId":"1147474880","repostType":4,"repost":{"id":"1147474880","pubTimestamp":1623470168,"share":"https://ttm.financial/m/news/1147474880?lang=&edition=fundamental","pubTime":"2021-06-12 11:56","market":"us","language":"en","title":"Investor, Trader, Speculator: Which One Are You?","url":"https://stock-news.laohu8.com/highlight/detail?id=1147474880","media":"The Wall Street Journal","summary":"Understanding the difference between speculation and investing is essential to avoiding reckless ris","content":"<blockquote>\n Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n</blockquote>\n<p>I’ve had it.</p>\n<p>The Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.</p>\n<p>If you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.</p>\n<p>Whenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.</p>\n<p>You’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.</p>\n<p>Of course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%<i>are</i>investors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.</p>\n<p>An investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.</p>\n<p>The word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.</p>\n<p>Nevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”</p>\n<p>He wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)</p>\n<p>“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”</p>\n<p>Graham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.</p>\n<p>In that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”</p>\n<p>However, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”</p>\n<p>Most investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.</p>\n<p>If you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.</p>\n<p>Take speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.</p>\n<p>I think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.</p>\n<p>“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”</p>\n<p>I hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.</p>\n<p>Calling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.</p>\n<p>Ina recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”</p>\n<p>In her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.</p>\n<p>The currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)</p>\n<p>PAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.</p>\n<p>Ms. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”</p>\n<p>In Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.</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>Investor, Trader, Speculator: Which One Are You?</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\">\nInvestor, Trader, Speculator: Which One Are You?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of ...</p>\n\n<a href=\"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147474880","content_text":"Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.\nIf you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.\nWhenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.\nYou’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.\nOf course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%areinvestors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.\nAn investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.\nThe word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.\nNevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”\nHe wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)\n“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”\nGraham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.\nIn that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”\nHowever, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”\nMost investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.\nIf you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.\nTake speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.\nI think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.\n“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”\nI hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.\nCalling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.\nIna recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”\nIn her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.\nThe currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)\nPAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.\nMs. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”\nIn Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":111,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115161641,"gmtCreate":1622959692983,"gmtModify":1704193832797,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Will apple price up?","listText":"Will apple price up?","text":"Will apple price up?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/115161641","repostId":"1165368747","repostType":2,"repost":{"id":"1165368747","pubTimestamp":1622940597,"share":"https://ttm.financial/m/news/1165368747?lang=&edition=fundamental","pubTime":"2021-06-06 08:49","market":"us","language":"en","title":"Apple’s 2021 WWDC Keynote Is Monday. Expect a Few Surprises.","url":"https://stock-news.laohu8.com/highlight/detail?id=1165368747","media":"Barrons","summary":"Apple next week holds its annual Worldwide Developers Conference, to be conducted virtually for the second year in a row due to the Covid-19 pandemic.The WWDC kicks off Monday with a two-hour keynote presentation by CEO Tim Cook and other executives. WWDC is generally used to unveil updates to the company’s various operating systems—MacOS for Macs, iOS for the iPhone, WatchOS for Apple Watch, tvOS for Apple TV set-top boxes, and iPadOS, a variation of iOS for iPads.Wedbush analyst Dan Ives expec","content":"<p>Apple next week holds its annual Worldwide Developers Conference, to be conducted virtually for the second year in a row due to the Covid-19 pandemic.</p><p>The WWDC kicks off Monday with a two-hour keynote presentation by CEO Tim Cook and other executives. WWDC is generally used to unveil updates to the company’s various operating systems—MacOS for Macs, iOS for the iPhone, WatchOS for Apple Watch, tvOS for Apple TV set-top boxes, and iPadOS, a variation of iOS for iPads.</p><p>New hardware announcements are possible, but the exception to the rule. This is, after all, an event for software developers.</p><p>Last year,Apple (ticker: AAPL) also used the event to unveil the M1 processor, a chip designed by the company that has replacedIntelparts in some MacBooks and iPads. By the time the announcement came, the launch had been widely anticipated by analysts and media.</p><p>There’s not nearly as much buzz heading into this year’s event, but Apple still manages to provide surprises. Expect a few this year.</p><p>Wedbush analyst Dan Ives expects the focus to be on the usual range of operating-system updates, including&nbsp;iOS 15, which he thinks will include new privacy protections, notification and lock-screen updates, and some new features in iMessage. As Ives noted, the most recent update to the iPhone software,iOS 14.5, includes an opt-in feature for tracking consumer behavior that has infuriated&nbsp;Facebook(FB) and other companies that rely on that data to target advertising.</p><p>Ives also thinks Apple will unveil new MacBook Pros at both 14-inch and 16-inch screen sizes, both driven by the M1 chip. He thinks Apple will wait until next summer to launch Apple Glasses, an expected augmented-reality product. He foresees a 2024 arrival for Apple Car.</p><p>Morgan Stanley analyst Katy Huberty pointed out in a research note that WWDC historically hasn’t given a boost to Apple shares. Over the past 10 years, she wrote, the stock on average has underperformed the&nbsp;S&amp;P 500&nbsp;by a little over a percentage point in both the week and two weeks immediately following the event.</p><p>Over the past year, though, the stock has responded more strongly to WWDC, Huberty said. She sees some potential for a positive response by investors this time, in particular if there are significant hardware announcements.</p><p>“While we expect the majority of software/operating system upgrades to be more evolutionary than last year, we do believe Apple will highlight efforts to broaden the use of in-house designed silicon, and potentially launch a new MacBook with the Apple silicon, making this year’s WWDC a potentially more significant catalyst than years past,” Huberty wrote.</p><p>As Huberty noted,<i>Nikkei Asia</i>&nbsp;reported in April&nbsp;that&nbsp;Taiwan Semiconductor(TSM) has been in mass production on the successor to the M1, which seems to be called the&nbsp;M2. She sees a possibility that Apple will unveil the first M2-powered Macs at the event.</p><p>Huberty remains bullish on the Mac business,which grew 70% in the March quarter&nbsp;amid widespread demand for laptops during the pandemic. She estimates that Apple had 7.7% of the PC market in calendar 2020 and sees potential for Apple’s slice of the pie to expand to be comparable to the company’s 16% share in the smartphone market. If that happens, she said, Macs alone could be a $68 billion run-rate business by 2025, more than double its current size.</p><p>As for updates to the various Apple operating systems, Huberty pointed to&nbsp;a Bloomberg story in April&nbsp;that said the company was planning to update how iOS handles notifications, a new iPad home screen, an updated lock screen, and various privacy updates.</p><p>On Friday, Apple shares rallied about 1.9%, to $125.89. The stock is down about 5% year to date but up about 43% since last year’s WWDC.</p>","source":"lsy1601382232898","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>Apple’s 2021 WWDC Keynote Is Monday. Expect a Few Surprises.</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\">\nApple’s 2021 WWDC Keynote Is Monday. Expect a Few Surprises.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 08:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/apple-2021-wwdc-51622820857?mod=hp_DAY_Theme_1_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple next week holds its annual Worldwide Developers Conference, to be conducted virtually for the second year in a row due to the Covid-19 pandemic.The WWDC kicks off Monday with a two-hour keynote ...</p>\n\n<a href=\"https://www.barrons.com/articles/apple-2021-wwdc-51622820857?mod=hp_DAY_Theme_1_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-2021-wwdc-51622820857?mod=hp_DAY_Theme_1_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165368747","content_text":"Apple next week holds its annual Worldwide Developers Conference, to be conducted virtually for the second year in a row due to the Covid-19 pandemic.The WWDC kicks off Monday with a two-hour keynote presentation by CEO Tim Cook and other executives. WWDC is generally used to unveil updates to the company’s various operating systems—MacOS for Macs, iOS for the iPhone, WatchOS for Apple Watch, tvOS for Apple TV set-top boxes, and iPadOS, a variation of iOS for iPads.New hardware announcements are possible, but the exception to the rule. This is, after all, an event for software developers.Last year,Apple (ticker: AAPL) also used the event to unveil the M1 processor, a chip designed by the company that has replacedIntelparts in some MacBooks and iPads. By the time the announcement came, the launch had been widely anticipated by analysts and media.There’s not nearly as much buzz heading into this year’s event, but Apple still manages to provide surprises. Expect a few this year.Wedbush analyst Dan Ives expects the focus to be on the usual range of operating-system updates, including iOS 15, which he thinks will include new privacy protections, notification and lock-screen updates, and some new features in iMessage. As Ives noted, the most recent update to the iPhone software,iOS 14.5, includes an opt-in feature for tracking consumer behavior that has infuriated Facebook(FB) and other companies that rely on that data to target advertising.Ives also thinks Apple will unveil new MacBook Pros at both 14-inch and 16-inch screen sizes, both driven by the M1 chip. He thinks Apple will wait until next summer to launch Apple Glasses, an expected augmented-reality product. He foresees a 2024 arrival for Apple Car.Morgan Stanley analyst Katy Huberty pointed out in a research note that WWDC historically hasn’t given a boost to Apple shares. Over the past 10 years, she wrote, the stock on average has underperformed the S&P 500 by a little over a percentage point in both the week and two weeks immediately following the event.Over the past year, though, the stock has responded more strongly to WWDC, Huberty said. She sees some potential for a positive response by investors this time, in particular if there are significant hardware announcements.“While we expect the majority of software/operating system upgrades to be more evolutionary than last year, we do believe Apple will highlight efforts to broaden the use of in-house designed silicon, and potentially launch a new MacBook with the Apple silicon, making this year’s WWDC a potentially more significant catalyst than years past,” Huberty wrote.As Huberty noted,Nikkei Asia reported in April that Taiwan Semiconductor(TSM) has been in mass production on the successor to the M1, which seems to be called the M2. She sees a possibility that Apple will unveil the first M2-powered Macs at the event.Huberty remains bullish on the Mac business,which grew 70% in the March quarter amid widespread demand for laptops during the pandemic. She estimates that Apple had 7.7% of the PC market in calendar 2020 and sees potential for Apple’s slice of the pie to expand to be comparable to the company’s 16% share in the smartphone market. If that happens, she said, Macs alone could be a $68 billion run-rate business by 2025, more than double its current size.As for updates to the various Apple operating systems, Huberty pointed to a Bloomberg story in April that said the company was planning to update how iOS handles notifications, a new iPad home screen, an updated lock screen, and various privacy updates.On Friday, Apple shares rallied about 1.9%, to $125.89. The stock is down about 5% year to date but up about 43% since last year’s WWDC.","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148552747,"gmtCreate":1625993273189,"gmtModify":1703751752535,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Go go go. &nbsp;","listText":"Go go go. &nbsp;","text":"Go go go.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/148552747","repostId":"1185154176","repostType":4,"repost":{"id":"1185154176","pubTimestamp":1625886925,"share":"https://ttm.financial/m/news/1185154176?lang=&edition=fundamental","pubTime":"2021-07-10 11:15","market":"us","language":"en","title":"The bull market in stocks may last up to five years — here are six reasons why","url":"https://stock-news.laohu8.com/highlight/detail?id=1185154176","media":"marketwatch","summary":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support. When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit n","content":"<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16f57eb7b0f75afb2f46b6d61281db87\" tg-width=\"1260\" tg-height=\"839\"><span>(Photo by Jorge Guerrero/AFP via Getty Images)</span></p>\n<p>When the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.</p>\n<p>It’s true that there could be a correction, given the already sizable 17% gain in the S&amp;P 500 Index&nbsp;this year. But you should buy then, too.</p>\n<p>Here’s why.</p>\n<p>We are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.</p>\n<p><b>1. There’s tremendous pent-up demand</b></p>\n<p>Everyone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.</p>\n<p>First, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.</p>\n<p>Behind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.</p>\n<p>Relatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.</p>\n<p>Next, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.</p>\n<p>Now let’s look at the pent-up demand in businesses.</p>\n<p>You know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.</p>\n<p>Companies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.</p>\n<p><b>The bottom line</b>: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.</p>\n<p><b>2. An under-appreciated earnings boom lies ahead</b></p>\n<p>The economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&amp;P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.</p>\n<p>Paulsen expects 2021 S&amp;P 500 earnings will be more like $220 instead of the consensus estimate of $190.</p>\n<p>“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”</p>\n<p>Plus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.</p>\n<p><b>3. There’s a new Fed in town</b></p>\n<p>For much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).</p>\n<p>Here’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.</p>\n<p><b>4. Inflation won’t kill the bull</b></p>\n<p>Inflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.</p>\n<p><b>5. Valuations will improve</b></p>\n<p>We’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.</p>\n<p>This will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&amp;P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.</p>\n<p>True to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000&nbsp;small-cap index have traded sideways for two to four months. The S&amp;P 500 and Nasdaq&nbsp;recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.</p>\n<p><b>6. Sentiment isn’t extreme</b></p>\n<p>As a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.</p>\n<p><b>Three themes to follow</b></p>\n<p>If we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.</p>\n<p><b>Favor cyclicals.</b>Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.</p>\n<p><b>Avoid defensives.</b>If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot&nbsp;in retail, B. Riley Financial,a markets and investment banking name, and Regional Management&nbsp;in consumer finance.</p>\n<p><b>Favor emerging markets.</b>Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The bull market in stocks may last up to five years — here are six reasons why</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe bull market in stocks may last up to five years — here are six reasons why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 11:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday,...</p>\n\n<a href=\"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/the-bull-market-in-stocks-may-last-up-to-five-years-here-are-six-reasons-why-11625842781?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185154176","content_text":"The economy is booming, earnings are rising, and the Federal Reserve is giving unprecedented support\n(Photo by Jorge Guerrero/AFP via Getty Images)\nWhen the stock market sells off, as it did Thursday, the right move was to buy your favorite stocks. Friday’s market action proved that.\nIt’s true that there could be a correction, given the already sizable 17% gain in the S&P 500 Index this year. But you should buy then, too.\nHere’s why.\nWe are still only in the early stages of what is going to be a three- to five-year bull market in stocks, for these six reasons.\n1. There’s tremendous pent-up demand\nEveryone is looking to the Federal Reserve for cues about stimulus. They are overlooking private-sector forces that will push stocks higher. To sum up, there’s huge pent-up private-sector demand that will help propel U.S. GDP growth to 8% this year and 3.5%-4.5% for years after that. The pent-up demand comes from the following sources, points out Jim Paulsen, chief strategist and economist at the Leuthold Group.\nFirst, there’s been a surge in household formation, as millennials hit the family years. This helps explain the big uptick in home demand. Once you buy a house, you have to fill it up with stuff. More consumer demand on the way.\nBehind the scenes, consumers have massive unspent savings because they hunkered down for the pandemic. The personal savings rate hit nearly 16% of GDP, compared to a post war average of 6.5%. The prior high was 10% in 1970s.\nRelatedly, household balance sheets improved remarkably. Debt-to-income ratios are the lowest since the 1990s. Consumers will continue to tap more bank loans and credit card capacity, as their confidence increases because employment and the economy remain strong.\nNext, there will be plenty more newly employed people once the extra unemployment benefits expire in September. This means consumer confidence will improve, which invariably boosts economic growth. The labor participation rate has room to improve, leaving spare employment capacity before we hit the full employment that can cap economic growth.\nNow let’s look at the pent-up demand in businesses.\nYou know all the shortages of stuff you keep running into or hearing about? Here’s why this is happening. To prepare for a prolonged epidemic, businesses cut inventories to the bone. It was the biggest inventory liquidation ever. But now, companies have to build back inventories. The ongoing inventory rebuild will be huge.\nCompanies also cut capacity, which they are building out again. Capital goods spending surged to record highs in the past year, advancing almost 23%, after being essentially flat for most of the prior two decades. This creates sustained growth, and it tells us a lot about business confidence.\nThe bottom line: We will see 7%-8% GDP growth this year, followed by 4%-4.5% next year and above average growth after that, supporting a sustained bull market in stocks. Expect the normal corrections along the way.\n2. An under-appreciated earnings boom lies ahead\nThe economic rebound has happened so quickly, analysts can’t keep up. Wall Street analysts project $190 a share in S&P 500 earnings this year. But that is woefully low given the expected 7%-8% GDP growth and massive stimulus that has yet to kick in. Stimulus normally takes six to eight months to take effect, and a lot of the recent dollops happened inside that window.\nPaulsen expects 2021 S&P 500 earnings will be more like $220 instead of the consensus estimate of $190.\n“Analysts are still under-appreciating how much profits have improved and how much they will improve,” says Paulsen. “We had dramatic overreaction from policy officials. They addressed the collapse, but created a massive improvement in fundamentals. This is still playing out in terms of the recovery in profits.”\nPlus, more fiscal stimulus is probably on the way, in the form of infrastructure spending.\n3. There’s a new Fed in town\nFor much of the past three decades, the Fed has been quick to tighten its policy to ward off inflation. The central bank killed off growth in the process. That’s one reason why the past 20 years posted the slowest growth in the post-war era. Now, though, the Fed is much more accommodative and this may likely persist because inflation will remain sluggish (more on this, below).\nHere’s a simple gauge to measure this. Take GDP growth and subtract the yield on 10-year TreasuriesTMUBMUSD10Y,1.359%.This gauge was negative for much of 1980-2010, when the Fed kept growth cool to contain inflation. Now, though, Fed policy is helping to keep 10-year yields well below GDP growth, which allows the economy to run hot. This was the state of affairs during 1950-1965, which some analysts call “the golden age of capitalism” because of the glide path in growth.\n4. Inflation won’t kill the bull\nInflation may rise near term because the economy is so hot. But medium term, the inflation slayers will win out. Here’s a roundup. The population is aging, and older people spend less. The boom in business capital spending will continue to boost productivity at companies. This allows them to avoid passing along rising costs to customers. Global trade and competition have not gone away. This puts downward pressure on prices since goods can be made more cheaply in many foreign countries. Ongoing technological advances continually put downward pressure on tech products.\n5. Valuations will improve\nWe’re now at the phase in the economic rebound where the following dynamic typically plays out. Stocks trade sideways for months, mostly because of worries about inflation and rising bond yields. All the while, the economy and earnings continue to grow, bringing down stock valuations. This dynamic played out at about this point in prior economic rebounds during 1983-84, 1993-94, 2004-05 and 2009-10. In short, we will see a big surge in earnings while the stock market marks time, or even corrects.\nThis will reset stock valuations lower, removing one of the chief concerns among investors — high valuations. If S&P 500 earnings hit $220 by the end of the year and the index is at 4,000 to 4,100 points because of a correction, stocks will be at an 18-19 price earnings ratio — below the average since 1990.\nTrue to form, the Dow Jones Industrial AverageDJIA,+1.30%and the Russell 2000 small-cap index have traded sideways for two to four months. The S&P 500 and Nasdaq recently broke out of trading ranges, but a bigger pullback would send them back into sideways action mode.\n6. Sentiment isn’t extreme\nAs a contrarian, I look for excessive sentiment as a sign that it’s time to raise some cash. We don’t see that yet. A simple gauge to follow is the Investors Intelligence Bull/Bear ratio. It recently came in at 3.92. That’s near the warning path, which for me starts at 4. On the other hand, mutual fund cash was recently at $4.6 trillion, near historical highs. This represents caution among investors.\nThree themes to follow\nIf we are in store for a sustained economic recovery and a multi-year bull market in stocks, it will pay to follow these three themes.\nFavor cyclicals.Stay with economically sensitive businesses and add to your holdings in them on pullbacks. This means cyclical companies in areas like financials, materials, industrials and consumer discretionary businesses.\nAvoid defensives.If you want yield, go with stocks that pay a dividend but also have capital appreciation potential — not steady growth companies selling stuff like consumer staples. On this theme, in my stock letter Brush Up on Stocks (the link is in bio, below) I’ve recently suggested or reiterated Home Depot in retail, B. Riley Financial,a markets and investment banking name, and Regional Management in consumer finance.\nFavor emerging markets.Their growth tends to be higher during expansions. Just be careful with China. It has an aging population. Limited workforce growth may constrain economic growth. Another challenge is that ongoing U.S.-China tensions and the related threat of persistent tariffs and trade barriers have global companies relocating supply chains elsewhere.","news_type":1},"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157065214,"gmtCreate":1625555026738,"gmtModify":1703743597889,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"[Cool]&nbsp;Is it worth the investment","listText":"[Cool]&nbsp;Is it worth the investment","text":"[Cool] Is it worth the investment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157065214","repostId":"1115843581","repostType":4,"isVote":1,"tweetType":1,"viewCount":139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161636096,"gmtCreate":1623921412315,"gmtModify":1703823558338,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Share&nbsp;Price still drop//<a href=\"https://laohu8.com/U/3569133365230412\">@Alanshi55</a>:No hike","listText":"Share&nbsp;Price still drop//<a href=\"https://laohu8.com/U/3569133365230412\">@Alanshi55</a>:No hike","text":"Share Price still drop//@Alanshi55:No hike","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/161636096","repostId":"2144713861","repostType":4,"repost":{"id":"2144713861","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623883569,"share":"https://ttm.financial/m/news/2144713861?lang=&edition=fundamental","pubTime":"2021-06-17 06:46","market":"us","language":"en","title":"Wall Street closes lower as Fed officials project rate hikes for 2023","url":"https://stock-news.laohu8.com/highlight/detail?id=2144713861","media":"Reuters","summary":"June 16  - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.The Fed cited an impr","content":"<p>June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.</p>\n<p>New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.</p>\n<p>The Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.</p>\n<p>\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>The benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.</p>\n<p>With inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.</p>\n<p>The Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.</p>\n<p>\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.</p>\n<p>The Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&amp;P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.</p>\n<p>Only two of the S&amp;P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.</p>\n<p>The decliners were led by utilities, materials, and consumer staples.</p>\n<p>Volume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street closes lower as Fed officials project rate hikes for 2023</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\">\nWall Street closes lower as Fed officials project rate hikes for 2023\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-17 06:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.</p>\n<p>New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.</p>\n<p>The Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.</p>\n<p>\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>The benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.</p>\n<p>With inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.</p>\n<p>The Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.</p>\n<p>\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.</p>\n<p>The Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&amp;P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.</p>\n<p>Only two of the S&amp;P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.</p>\n<p>The decliners were led by utilities, materials, and consumer staples.</p>\n<p>Volume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SDS":"两倍做空标普500ETF","DJX":"1/100道琼斯","QQQ":"纳指100ETF","TQQQ":"纳指三倍做多ETF","UPRO":"三倍做多标普500ETF","DXD":"道指两倍做空ETF","IVV":"标普500指数ETF","SH":"标普500反向ETF","DDM":"道指两倍做多ETF","QID":"纳指两倍做空ETF","SSO":"两倍做多标普500ETF","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","DOG":"道指反向ETF",".IXIC":"NASDAQ Composite","OEX":"标普100",".SPX":"S&P 500 Index","SDOW":"道指三倍做空ETF-ProShares","QLD":"纳指两倍做多ETF","UDOW":"道指三倍做多ETF-ProShares","OEF":"标普100指数ETF-iShares","PSQ":"纳指反向ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144713861","content_text":"June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.\nNew projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.\nThe Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.\n\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at BNP Paribas.\nThe benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.\nWith inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.\nThe Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.\n\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.\nThe Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.\nOnly two of the S&P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.\nThe decliners were led by utilities, materials, and consumer staples.\nVolume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.\nThe S&P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893969187,"gmtCreate":1628229933449,"gmtModify":1703503595539,"author":{"id":"3569217140119194","authorId":"3569217140119194","name":"KTinspired","avatar":"https://static.tigerbbs.com/cd93722c1ec44484912677de52a7806c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569217140119194","idStr":"3569217140119194"},"themes":[],"htmlText":"Hope the data is good. &nbsp;","listText":"Hope the data is good. &nbsp;","text":"Hope the data is good.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/893969187","repostId":"1132511170","repostType":4,"isVote":1,"tweetType":1,"viewCount":513,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}