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FOMC preview: Inflationary pressures tempt taper talk

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11:23","market":"us","language":"en","title":"FOMC preview: Inflationary pressures tempt taper talk","url":"https://stock-news.laohu8.com/highlight/detail?id=1135791696","media":"Yahoo Finance","summary":"The Federal Reserve had hoped for a string of strong jobs reports showing a pace of 1 million monthly job gains.Instead, the Fed received larger-than-expected readings on inflation.For a central bank that has reiterated its higher bar for pulling its monetary stimulus, recent data points could test the resolve of policymakers with regard to its quantitative easing program.Since the Fed’s last policy-setting meeting in May, several Fed officials voiced interest in taking the first step toward slo","content":"<p>The Federal Reserve had hoped for a&nbsp;string of strong jobs reports&nbsp;showing a pace of 1 million monthly job gains.</p>\n<p>Instead, the Fed received larger-than-expected readings on inflation.</p>\n<p>For a central bank that has reiterated its higher bar for pulling its monetary stimulus, recent data points could test the resolve of policymakers with regard to its quantitative easing program.</p>\n<p>Since the Fed’s last policy-setting meeting in May, several Fed officials&nbsp;voiced interest in taking the first step toward slowing&nbsp;the central bank’s $120 billion-a-month pace of U.S. Treasury and agency mortgage-backed securities purchases.</p>\n<p>“There is some upside risk to increased inflation,” Philadelphia Fed President Patrick Harker&nbsp;said on June 2.</p>\n<p>The&nbsp;Consumer Price Index in May&nbsp;rose by the fastest year-over-year pace since August 2008. Another measure of inflation, the Producer Price Index,recorded its fastest 12-month growth on record&nbsp;since the Bureau of Labor Statistics began the dataset in November 2010.</p>\n<p>Still, many Fed officials insist that the high data readings are due to&nbsp;temporary factors&nbsp;like supply chain bottlenecks. Shortages in microchips are continuing to put upward pressure on cars. But lumber prices, which skyrocketed in the late spring, are&nbsp;now tumbling.</p>\n<p>“I continue to believe as my baseline case that this will prove to be largely transitory,” Fed Vice Chairman Richard Clarida&nbsp;told Yahoo Finance&nbsp;on May 25 (before the May CPI and PPI prints).</p>\n<p>Fed watchers expect that “transitory” will remain the prevailing view among the Federal Open Market Committee, meaning that those eager to talk about tapering may be in the minority this week.</p>\n<p>A BofA survey done last week noted that 63% of global fund managers do not expect the Fed to signal tapering until August or September — most likely at the Fed’s late-August meeting in Jackson Hole, Wyoming.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f12fb608045aa97206f53cbac6b7c64c\" tg-width=\"960\" tg-height=\"625\"><span>A BofA survey conducted between June 4-10, 2021 notes that most fund managers do not expect the Fed to signal a taper in this week's meeting. Source: BofA Fund Manager Survey, DataStream</span></p>\n<p>“This is not a Fed that is rushing to the exits,” BofA Global Research analysts wrote on June 14. “That said, we expect a few nuanced changes that would sound less dovish than in the April meeting.”</p>\n<p>The Fed is continuing to keep a focus on the labor market, where&nbsp;May jobs data&nbsp;showed the economy still 7.6 million jobs short of pre-pandemic levels.</p>\n<p><b>When is a rate hike coming?</b></p>\n<p>Commentary on the Fed’s asset purchases could come from the FOMC policy statement or Fed Chairman Jerome Powell’s press conference at 2:30 p.m. ET on Wednesday.</p>\n<p>The FOMC’s next round of economic projections, due alongside the policy statement, could also offer some clues.</p>\n<p>Those projections will include an update to the so-called “dot plots,” which map out each FOMC member’s forecasts for where interest rates may head in the future. The Fed’s last round of projections in March had the median member of the committee projecting no rate hike through the end of 2023.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bbea5dc5ee450e2a475e989236c55734\" tg-width=\"960\" tg-height=\"975\"><span>The March 2021 Summary of Economic Projections map out each FOMC member's expectations for where interest rates may go in the coming years. The so-called \"dot plots\" show the median member expecting no rate hike through the end of 2023. Source: Federal Reserve</span></p>\n<p>With more Fed officials having expressed interest in kicking off taper talks, chatter is building over whether or not the dot plot will show the median FOMC member projecting a rate hike by the end of 2023.</p>\n<p>“In light of the transitory nature of the recent spike in prices, our best guess is no, but it is a close call,” Goldman Sachs’s economics team wrote on June 13.</p>\n<p>The Goldman note pointed out that the dots may be “guided by some steering” from Powell, who would face some tricky questions on how the “transitory” view on inflation squares with the expectation for an earlier rate hike.</p>\n<p>Still, if only three more FOMC members revise up their expectations for interest rates in 2023, the median dot would reflect one rate hike.</p>\n<p>Here’s what Fed officials have said since the central bank’s last policy-setting meeting in April:</p>\n<p><b>What Fed officials have said about inflation:</b></p>\n<p><b>Fed Chairman Jerome Powell (voter):</b>“We saw in the last expansion that unemployment could go to 50 year lows without troubling inflation and we put that to work.” (Remarks at&nbsp;National Community Reinvestment Coalition, May 3)</p>\n<p><b>Fed Vice Chairman Richard Clarida (voter):</b>“If in the risk case, the upward pressure on inflation were to prove to be more persistent and to put upward pressure on inflation expectations we have the tools and I'm convinced that we would act to counteract and bring inflation down to our long-run goal of 2%.” (Yahoo Finance&nbsp;interview, May 25)</p>\n<p><b>Fed Vice Chairman Randal Quarles (voter):</b>“You’re going to see inflationary pressures. That’s going to happen. It’s not going to be surprising. And one would expect it to be temporary. But we could be wrong.” (Politico&nbsp;interview, June 1)</p>\n<p><b>Fed Governor Lael Brainard (voter):</b>“In assessing the risk that such transitory pricing pressures get embedded in persistently high inflation, it is critical to remember that inflation averaged less than 2% over the past quarter-century, and that statistical measures of trend inflation ran consistently below 2% for decades before the pandemic.” (Remarks at&nbsp;Economic Club of New York, June 1)</p>\n<p><b>Fed Governor Michelle Bowman (voter):</b>“If the supply bottlenecks prove to be more long-lasting than currently expected, I will adjust my views on the inflation outlook accordingly. At this point, the risk that inflation remains persistently above our long-run target of 2% still appears small.” (Remarks at&nbsp;The Colorado Forum, May 5)</p>\n<p><b>Fed Governor Christopher Waller (voter):</b>“Despite the unexpectedly high [April] CPI inflation report yesterday, the factors putting upward pressure on inflation are temporary, and an accommodative monetary policy continues to have an important role to play in supporting the recovery.” (Remarks at the&nbsp;Global Interdependence Center, May 13)</p>\n<p><b>Boston Fed President Eric Rosengren:</b>“One-time, temporary changes in prices should not impact the medium-term trajectory of inflation.” (Remarks at&nbsp;Boston College, May 5)</p>\n<p><b>New York Fed President John Williams:</b>“My personal view is that a big chunk of the increase in the inflation measures that we've seen is really partly this reversal price declines from before, what we often called base effects, plus some special factors like used cars and others where clearly the pandemic has affected demand for certain goods that are in short supply at least in the near term.” (Yahoo Finance&nbsp;interview, June 3)</p>\n<p><b>Philadelphia Fed President Patrick Harker:</b>“With the economy picking up and so much fiscal support and monetary accommodation, there is some upside risk to increased inflation.” (Remarks at&nbsp;Women in Housing and Finance Public Policy Luncheon, June 2)</p>\n<p><b>Cleveland Fed President Loretta Mester:</b>“My expectation is that we'll end the year with inflation above 2%. But then next year, as those supply constraints are eased, inflation numbers will go back down. And then, with the support of monetary policy and fiscal policy we’ll see those inflation reads move back up.” (Yahoo Finance&nbsp;interview, May 11)</p>\n<p><b>Richmond Fed President Thomas Barkin (voter):</b>“Inflation is a multi-year, recurring, persistent phenomenon and as I talk to businesses I’m still not hearing their medium- to long-term expectations on pricing changing, nor are market measures on inflation escalating above our target.” (Remarks at&nbsp;West Virginia Chamber, May 7)</p>\n<p><b>Atlanta Fed President Raphael Bostic (voter):</b>“We’re really in a turbulent time and what I try to tell people is, this a time when I would expect there to be a fair amount of volatility in inflation.” (Remarks at&nbsp;Council on Foreign Relations, May 12)</p>\n<p><b>Chicago Fed President Charles Evans (voter):</b>“It is important to emphasize that the recent increase in inflation does not appear to be the precursor of a persistent movement to undesirably high levels of inflation.” (Remarks at&nbsp;Bank of Japan, May 25)</p>\n<p><b>St. Louis Fed President James Bullard:</b>“We'll see if the demand really flows through to a lasting increase in inflation or if this is just temporary. I think it's mostly temporary but then some of it will flow through to inflation expectations, and then we will get inflation above 2% this year and into 2022.” (Yahoo Finance&nbsp;interview, May 24)</p>\n<p><b>Minneapolis Fed President Neel Kashkari:</b>“I'm very skeptical that we're going to have sustained high inflation if we still have five or 10 million Americans out of work. We think the labor market is really what's going to drive inflation over the long term.” (Face the Nation&nbsp;interview&nbsp;on CBS, May 9)</p>\n<p><b>Kansas City Fed President Esther George:</b>“What the current pace of inflation means for the inflation outlook for the medium term is less than clear. Many factors that have boosted current inflation seem likely to fade over time. All the same, I am not inclined to dismiss today’s pricing signals or to be overly reliant on historical relationships and dynamics in judging the outlook for inflation.” (Remarks at&nbsp;Oklahoma Bankers Association, May 26)</p>\n<p><b>Dallas Fed President Robert Kaplan:</b>“It’s uncertain as to how long these supply-demand imbalances are going to persist. Our base case is that next year you’ll see some moderation [in inflation], but I think there’s a lot of uncertainty about this.” (Remarks at&nbsp;Dallas Fed, May 17)</p>\n<p><b>San Francisco Fed President Mary Daly (voter):</b>\"[Supply constraints] will cause inflation to pop in the next several months, probably through the end of the year, even, achieving levels above 2%. But that's going to be transitory in our judgment — in my judgment. And it'll come back down to the underlying rate of inflation, which I think is about 1.8% going forward.” (Yahoo Finance&nbsp;interview, May 10)</p>","source":"yahoofinance_sg","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>FOMC preview: Inflationary pressures tempt taper talk</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\">\nFOMC preview: Inflationary pressures tempt taper talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/fed-fomc-monetary-policy-preview-june-2021-191602338.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Federal Reserve had hoped for a string of strong jobs reports showing a pace of 1 million monthly job gains.\nInstead, the Fed received larger-than-expected readings on inflation.\nFor a central ...</p>\n\n<a href=\"https://finance.yahoo.com/news/fed-fomc-monetary-policy-preview-june-2021-191602338.html\">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://finance.yahoo.com/news/fed-fomc-monetary-policy-preview-june-2021-191602338.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135791696","content_text":"The Federal Reserve had hoped for a string of strong jobs reports showing a pace of 1 million monthly job gains.\nInstead, the Fed received larger-than-expected readings on inflation.\nFor a central bank that has reiterated its higher bar for pulling its monetary stimulus, recent data points could test the resolve of policymakers with regard to its quantitative easing program.\nSince the Fed’s last policy-setting meeting in May, several Fed officials voiced interest in taking the first step toward slowing the central bank’s $120 billion-a-month pace of U.S. Treasury and agency mortgage-backed securities purchases.\n“There is some upside risk to increased inflation,” Philadelphia Fed President Patrick Harker said on June 2.\nThe Consumer Price Index in May rose by the fastest year-over-year pace since August 2008. Another measure of inflation, the Producer Price Index,recorded its fastest 12-month growth on record since the Bureau of Labor Statistics began the dataset in November 2010.\nStill, many Fed officials insist that the high data readings are due to temporary factors like supply chain bottlenecks. Shortages in microchips are continuing to put upward pressure on cars. But lumber prices, which skyrocketed in the late spring, are now tumbling.\n“I continue to believe as my baseline case that this will prove to be largely transitory,” Fed Vice Chairman Richard Clarida told Yahoo Finance on May 25 (before the May CPI and PPI prints).\nFed watchers expect that “transitory” will remain the prevailing view among the Federal Open Market Committee, meaning that those eager to talk about tapering may be in the minority this week.\nA BofA survey done last week noted that 63% of global fund managers do not expect the Fed to signal tapering until August or September — most likely at the Fed’s late-August meeting in Jackson Hole, Wyoming.\nA BofA survey conducted between June 4-10, 2021 notes that most fund managers do not expect the Fed to signal a taper in this week's meeting. Source: BofA Fund Manager Survey, DataStream\n“This is not a Fed that is rushing to the exits,” BofA Global Research analysts wrote on June 14. “That said, we expect a few nuanced changes that would sound less dovish than in the April meeting.”\nThe Fed is continuing to keep a focus on the labor market, where May jobs data showed the economy still 7.6 million jobs short of pre-pandemic levels.\nWhen is a rate hike coming?\nCommentary on the Fed’s asset purchases could come from the FOMC policy statement or Fed Chairman Jerome Powell’s press conference at 2:30 p.m. ET on Wednesday.\nThe FOMC’s next round of economic projections, due alongside the policy statement, could also offer some clues.\nThose projections will include an update to the so-called “dot plots,” which map out each FOMC member’s forecasts for where interest rates may head in the future. The Fed’s last round of projections in March had the median member of the committee projecting no rate hike through the end of 2023.\nThe March 2021 Summary of Economic Projections map out each FOMC member's expectations for where interest rates may go in the coming years. The so-called \"dot plots\" show the median member expecting no rate hike through the end of 2023. Source: Federal Reserve\nWith more Fed officials having expressed interest in kicking off taper talks, chatter is building over whether or not the dot plot will show the median FOMC member projecting a rate hike by the end of 2023.\n“In light of the transitory nature of the recent spike in prices, our best guess is no, but it is a close call,” Goldman Sachs’s economics team wrote on June 13.\nThe Goldman note pointed out that the dots may be “guided by some steering” from Powell, who would face some tricky questions on how the “transitory” view on inflation squares with the expectation for an earlier rate hike.\nStill, if only three more FOMC members revise up their expectations for interest rates in 2023, the median dot would reflect one rate hike.\nHere’s what Fed officials have said since the central bank’s last policy-setting meeting in April:\nWhat Fed officials have said about inflation:\nFed Chairman Jerome Powell (voter):“We saw in the last expansion that unemployment could go to 50 year lows without troubling inflation and we put that to work.” (Remarks at National Community Reinvestment Coalition, May 3)\nFed Vice Chairman Richard Clarida (voter):“If in the risk case, the upward pressure on inflation were to prove to be more persistent and to put upward pressure on inflation expectations we have the tools and I'm convinced that we would act to counteract and bring inflation down to our long-run goal of 2%.” (Yahoo Finance interview, May 25)\nFed Vice Chairman Randal Quarles (voter):“You’re going to see inflationary pressures. That’s going to happen. It’s not going to be surprising. And one would expect it to be temporary. But we could be wrong.” (Politico interview, June 1)\nFed Governor Lael Brainard (voter):“In assessing the risk that such transitory pricing pressures get embedded in persistently high inflation, it is critical to remember that inflation averaged less than 2% over the past quarter-century, and that statistical measures of trend inflation ran consistently below 2% for decades before the pandemic.” (Remarks at Economic Club of New York, June 1)\nFed Governor Michelle Bowman (voter):“If the supply bottlenecks prove to be more long-lasting than currently expected, I will adjust my views on the inflation outlook accordingly. At this point, the risk that inflation remains persistently above our long-run target of 2% still appears small.” (Remarks at The Colorado Forum, May 5)\nFed Governor Christopher Waller (voter):“Despite the unexpectedly high [April] CPI inflation report yesterday, the factors putting upward pressure on inflation are temporary, and an accommodative monetary policy continues to have an important role to play in supporting the recovery.” (Remarks at the Global Interdependence Center, May 13)\nBoston Fed President Eric Rosengren:“One-time, temporary changes in prices should not impact the medium-term trajectory of inflation.” (Remarks at Boston College, May 5)\nNew York Fed President John Williams:“My personal view is that a big chunk of the increase in the inflation measures that we've seen is really partly this reversal price declines from before, what we often called base effects, plus some special factors like used cars and others where clearly the pandemic has affected demand for certain goods that are in short supply at least in the near term.” (Yahoo Finance interview, June 3)\nPhiladelphia Fed President Patrick Harker:“With the economy picking up and so much fiscal support and monetary accommodation, there is some upside risk to increased inflation.” (Remarks at Women in Housing and Finance Public Policy Luncheon, June 2)\nCleveland Fed President Loretta Mester:“My expectation is that we'll end the year with inflation above 2%. But then next year, as those supply constraints are eased, inflation numbers will go back down. And then, with the support of monetary policy and fiscal policy we’ll see those inflation reads move back up.” (Yahoo Finance interview, May 11)\nRichmond Fed President Thomas Barkin (voter):“Inflation is a multi-year, recurring, persistent phenomenon and as I talk to businesses I’m still not hearing their medium- to long-term expectations on pricing changing, nor are market measures on inflation escalating above our target.” (Remarks at West Virginia Chamber, May 7)\nAtlanta Fed President Raphael Bostic (voter):“We’re really in a turbulent time and what I try to tell people is, this a time when I would expect there to be a fair amount of volatility in inflation.” (Remarks at Council on Foreign Relations, May 12)\nChicago Fed President Charles Evans (voter):“It is important to emphasize that the recent increase in inflation does not appear to be the precursor of a persistent movement to undesirably high levels of inflation.” (Remarks at Bank of Japan, May 25)\nSt. Louis Fed President James Bullard:“We'll see if the demand really flows through to a lasting increase in inflation or if this is just temporary. I think it's mostly temporary but then some of it will flow through to inflation expectations, and then we will get inflation above 2% this year and into 2022.” (Yahoo Finance interview, May 24)\nMinneapolis Fed President Neel Kashkari:“I'm very skeptical that we're going to have sustained high inflation if we still have five or 10 million Americans out of work. We think the labor market is really what's going to drive inflation over the long term.” (Face the Nation interview on CBS, May 9)\nKansas City Fed President Esther George:“What the current pace of inflation means for the inflation outlook for the medium term is less than clear. Many factors that have boosted current inflation seem likely to fade over time. All the same, I am not inclined to dismiss today’s pricing signals or to be overly reliant on historical relationships and dynamics in judging the outlook for inflation.” (Remarks at Oklahoma Bankers Association, May 26)\nDallas Fed President Robert Kaplan:“It’s uncertain as to how long these supply-demand imbalances are going to persist. Our base case is that next year you’ll see some moderation [in inflation], but I think there’s a lot of uncertainty about this.” (Remarks at Dallas Fed, May 17)\nSan Francisco Fed President Mary Daly (voter):\"[Supply constraints] will cause inflation to pop in the next several months, probably through the end of the year, even, achieving levels above 2%. But that's going to be transitory in our judgment — in my judgment. And it'll come back down to the underlying rate of inflation, which I think is about 1.8% going forward.” (Yahoo Finance interview, May 10)","news_type":1},"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169823310,"gmtCreate":1623828648730,"gmtModify":1703820699784,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Damn&nbsp;","listText":"Damn&nbsp;","text":"Damn","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169823310","repostId":"2143375742","repostType":4,"isVote":1,"tweetType":1,"viewCount":365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169829673,"gmtCreate":1623828613892,"gmtModify":1703820698815,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Of cos a buy&nbsp;","listText":"Of cos a buy&nbsp;","text":"Of cos a buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169829673","repostId":"1179963706","repostType":4,"repost":{"id":"1179963706","pubTimestamp":1623828183,"share":"https://ttm.financial/m/news/1179963706?lang=&edition=fundamental","pubTime":"2021-06-16 15:23","market":"us","language":"en","title":"Is Virgin Galactic Stock a Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1179963706","media":"Motley Fool","summary":"These shares aren't for the faint of heart.","content":"<p>The space industry is a high-potential, high-risk investment opportunity for investors willing to take the leap into some volatility.&nbsp;In the last year alone, the stock of&nbsp;<b>Virgin Galactic Holdings</b>&nbsp;(NYSE:SPCE)&nbsp;has jumped 300%,then fallen 75%, and more than&nbsp;doubled from recent lows. Investors who have held on for the ride have done well, but it hasn't been easy.</p>\n<p>More than even the highest flying&nbsp;growth stocks&nbsp;on the market, this is a boom-and-bust kind of investment right now. If Virgin Galactic succeeds, it could reshape the way we think about space. But if it fails, the company could end in disaster. Right now, I think it's worth the risk.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2bd0b3467fea65d95ded6ecb659b938\" tg-width=\"2000\" tg-height=\"1334\"><span>IMAGE SOURCE: VIRGIN GALACTIC.</span></p>\n<p><b>What fundamentals?</b></p>\n<p>Before we get too far into Virgin Galactic's opportunities, it's important to point out that this is a pre-revenue company. It is burning cash in anticipation of generating revenue from research and from customer tickets for a quick trip into space, but it hasn't launched commercially yet.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51fd6129b14f307e5702187274edae41\" tg-width=\"720\" tg-height=\"435\"><span>SPCE REVENUE (TTM) DATA BY YCHARTS. TTM = TRAILING 12 MONTHS.</span></p>\n<p>Being a pre-revenue company isn't bad, but it shows just how early it is in its development.</p>\n<p><b>Building a new market in space</b></p>\n<p>The bullish case for Virgin Galactic is that it'll redefine how we think about space. For as little as $250,000, anyone can travel into space once commercial flights begin. That sounds like a lot of money, but think about how unattainable space seemed only a decade or two ago. Now, it just takes a big checkbook to get there. The flight is only a few minutes long, but it's a once-in-a-lifetime experience that has already attracted over 600 reservations.</p>\n<p>Management thinks that when operations are fully ramped up, a spaceport like the company has built in New Mexico will be able to generate $1 billion per year in revenue. Build a few spaceports around the world, and suddenly valuing the company at $8.7 billion (its market capitalization today) doesn't seem so crazy.</p>\n<p><b>High-speed travel is next</b></p>\n<p>In development is a Mach 3 aircraft that could take high-speed travel to a new level. While the current spacecraft being tested is meant for tourism, a Mach 3 aircraft could make global travel more efficient, reducing the flight&nbsp;from Los Angeles to Tokyo from 12 hours to three to four hours. And with a capacity of 9 to 19 seats, it would seem more like a flight on a private jet than the failed Concorde, which had a capacity of 92 to 128 passengers.</p>\n<p>We don't know if space tourism or mach-speed travel will succeed but imagine if they do. If thousands of people fly into space each year and it's commonplace to see videos of celebrities or wealthy people in a weightless atmosphere, it has the potential to shape how we view space tourism. At the same time, Virgin Galactic's design of reusable rockets could allow it to reduce costs to make space tourism possible to those willing to spend around $100,000 on a ticket. And that could truly change how we view space. That's the kind of disruption that would drive big gains for investors.</p>\n<p><b>Virgin Galactic is a buy, with risks</b></p>\n<p>The investment thesis for Virgin Galactic is pretty simple: Virgin Galactic could disrupt the way we think about visiting space and Mach-speed travel. Management thinks it can complete 400 space flights per year, generating $1 billion in revenue per spaceport, with the potential to build dozens of spaceports around the world. Long-term, the spaceports could also house mach-speed aircraft. If Virgin Galactic succeeds, the company could open up multibillion-dollar markets that don't exist today.</p>\n<p>As big as the opportunity is, the risks are hefty as well. A failure in testing or product development could sink the company. Today, I think the reward outweighs the risk, and a decade or two from now we'll all know of someone who has visited space. That potential shift in how we think about the universe around us makes this a company I'm excited to own, and follow, into the future.</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 Virgin Galactic Stock a Buy?</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 Virgin Galactic Stock a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 15:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/15/is-virgin-galactic-stock-a-buy/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The space industry is a high-potential, high-risk investment opportunity for investors willing to take the leap into some volatility. In the last year alone, the stock of Virgin Galactic Holdings (...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/15/is-virgin-galactic-stock-a-buy/\">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://www.fool.com/investing/2021/06/15/is-virgin-galactic-stock-a-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179963706","content_text":"The space industry is a high-potential, high-risk investment opportunity for investors willing to take the leap into some volatility. In the last year alone, the stock of Virgin Galactic Holdings (NYSE:SPCE) has jumped 300%,then fallen 75%, and more than doubled from recent lows. Investors who have held on for the ride have done well, but it hasn't been easy.\nMore than even the highest flying growth stocks on the market, this is a boom-and-bust kind of investment right now. If Virgin Galactic succeeds, it could reshape the way we think about space. But if it fails, the company could end in disaster. Right now, I think it's worth the risk.\nIMAGE SOURCE: VIRGIN GALACTIC.\nWhat fundamentals?\nBefore we get too far into Virgin Galactic's opportunities, it's important to point out that this is a pre-revenue company. It is burning cash in anticipation of generating revenue from research and from customer tickets for a quick trip into space, but it hasn't launched commercially yet.\nSPCE REVENUE (TTM) DATA BY YCHARTS. TTM = TRAILING 12 MONTHS.\nBeing a pre-revenue company isn't bad, but it shows just how early it is in its development.\nBuilding a new market in space\nThe bullish case for Virgin Galactic is that it'll redefine how we think about space. For as little as $250,000, anyone can travel into space once commercial flights begin. That sounds like a lot of money, but think about how unattainable space seemed only a decade or two ago. Now, it just takes a big checkbook to get there. The flight is only a few minutes long, but it's a once-in-a-lifetime experience that has already attracted over 600 reservations.\nManagement thinks that when operations are fully ramped up, a spaceport like the company has built in New Mexico will be able to generate $1 billion per year in revenue. Build a few spaceports around the world, and suddenly valuing the company at $8.7 billion (its market capitalization today) doesn't seem so crazy.\nHigh-speed travel is next\nIn development is a Mach 3 aircraft that could take high-speed travel to a new level. While the current spacecraft being tested is meant for tourism, a Mach 3 aircraft could make global travel more efficient, reducing the flight from Los Angeles to Tokyo from 12 hours to three to four hours. And with a capacity of 9 to 19 seats, it would seem more like a flight on a private jet than the failed Concorde, which had a capacity of 92 to 128 passengers.\nWe don't know if space tourism or mach-speed travel will succeed but imagine if they do. If thousands of people fly into space each year and it's commonplace to see videos of celebrities or wealthy people in a weightless atmosphere, it has the potential to shape how we view space tourism. At the same time, Virgin Galactic's design of reusable rockets could allow it to reduce costs to make space tourism possible to those willing to spend around $100,000 on a ticket. And that could truly change how we view space. That's the kind of disruption that would drive big gains for investors.\nVirgin Galactic is a buy, with risks\nThe investment thesis for Virgin Galactic is pretty simple: Virgin Galactic could disrupt the way we think about visiting space and Mach-speed travel. Management thinks it can complete 400 space flights per year, generating $1 billion in revenue per spaceport, with the potential to build dozens of spaceports around the world. Long-term, the spaceports could also house mach-speed aircraft. If Virgin Galactic succeeds, the company could open up multibillion-dollar markets that don't exist today.\nAs big as the opportunity is, the risks are hefty as well. A failure in testing or product development could sink the company. Today, I think the reward outweighs the risk, and a decade or two from now we'll all know of someone who has visited space. That potential shift in how we think about the universe around us makes this a company I'm excited to own, and follow, into the future.","news_type":1},"isVote":1,"tweetType":1,"viewCount":381,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169820750,"gmtCreate":1623828599570,"gmtModify":1703820697845,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169820750","repostId":"1182315358","repostType":4,"repost":{"id":"1182315358","pubTimestamp":1623814338,"share":"https://ttm.financial/m/news/1182315358?lang=&edition=fundamental","pubTime":"2021-06-16 11:32","market":"us","language":"en","title":"It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1182315358","media":"MarketWatch","summary":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn","content":"<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/724d1ea0bb18bddb367c79abf08c1af9\" tg-width=\"1260\" tg-height=\"841\"><span>It takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)</span></p>\n<p>I don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.</p>\n<p>After 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.</p>\n<p>Maybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.</p>\n<p>But I simply don’t think that’s the most likely outcome.</p>\n<p>And if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.</p>\n<p>I’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.</p>\n<p>Trading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how&nbsp;good analysis starts with empathy.</p>\n<p><b>If I’m selling, who’s buying — and why?</b></p>\n<p>So let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference&nbsp;in Abu Dhabi and everybody was desperate for returns:</p>\n<p>Amid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”</p>\n<p>Since that post, back a year and a half ago, Slack&nbsp;went from $21 to being bought out at $45, Twitter&nbsp;went from $27 to $61, and Tesla&nbsp;went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.</p>\n<p>And now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by&nbsp;23-year-old TikTok influencers&nbsp;doing bitcoin&nbsp;trading astrology.</p>\n<p>Yes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.”&nbsp;Bearish anecdotes everywhere I look, as I wrote recently.</p>\n<p><b>Mr. Market</b></p>\n<p>The other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.</p>\n<p>Mr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.</p>\n<p>Sometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average&nbsp;up 400% from the 1921 lows to the 1929 highs.</p>\n<p><img src=\"https://static.tigerbbs.com/3a6516337aacc614d83584ea90e174f2\" tg-width=\"1260\" tg-height=\"870\"></p>\n<p><b>Learning from Soros</b></p>\n<p>But looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,<i>and</i>the economy crashed because the markets shut down access to capital for investment and growth.</p>\n<p>It was “reflexive,” to borrow a term from the great hedge fund manager&nbsp;George Soros.</p>\n<p>He wrote, and the concept is important to understand:</p>\n<p>“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…</p>\n<p>“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…</p>\n<p>“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…</p>\n<p>“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”</p>\n<p>Stay flexible</p>\n<p>Far-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.</p>\n<p>We don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.</p>\n<p>It’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.</p>\n<p>Most traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.</p>\n<p>We are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.</p>\n<p>I spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.</p>\n<p>As a matter of fact,&nbsp;I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?</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>It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in 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\">\nIt’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what...</p>\n\n<a href=\"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2\">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",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182315358","content_text":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.\nAfter 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.\nMaybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.\nBut I simply don’t think that’s the most likely outcome.\nAnd if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.\nI’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.\nTrading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how good analysis starts with empathy.\nIf I’m selling, who’s buying — and why?\nSo let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference in Abu Dhabi and everybody was desperate for returns:\nAmid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”\nSince that post, back a year and a half ago, Slack went from $21 to being bought out at $45, Twitter went from $27 to $61, and Tesla went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.\nAnd now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by 23-year-old TikTok influencers doing bitcoin trading astrology.\nYes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.” Bearish anecdotes everywhere I look, as I wrote recently.\nMr. Market\nThe other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.\nMr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.\nSometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average up 400% from the 1921 lows to the 1929 highs.\n\nLearning from Soros\nBut looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,andthe economy crashed because the markets shut down access to capital for investment and growth.\nIt was “reflexive,” to borrow a term from the great hedge fund manager George Soros.\nHe wrote, and the concept is important to understand:\n“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…\n“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…\n“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…\n“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”\nStay flexible\nFar-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.\nWe don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.\nIt’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.\nMost traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.\nWe are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.\nI spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.\nAs a matter of fact, I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?","news_type":1},"isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187295716,"gmtCreate":1623754639035,"gmtModify":1704210605284,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Not my Tesla&nbsp;","listText":"Not my Tesla&nbsp;","text":"Not my Tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187295716","repostId":"1106218942","repostType":4,"repost":{"id":"1106218942","pubTimestamp":1623734282,"share":"https://ttm.financial/m/news/1106218942?lang=&edition=fundamental","pubTime":"2021-06-15 13:18","market":"us","language":"en","title":"Tesla Takes A Step Back","url":"https://stock-news.laohu8.com/highlight/detail?id=1106218942","media":"seekingalpha","summary":"Model S Plaid event falls a bit flat.Last week was supposed to be a good time for fans of Tesla , with the company finally holding its meaningfully delayed Model S Plaid reveal event. Fans and investors were not only looking to see the latest performance details, but were hoping for other big surprises from the automaker. Unfortunately, the company's event was pretty much a dud, and other news out during the week raised even more questions about the company's near term future.I'm more curious th","content":"<p><b>Summary</b></p>\n<ul>\n <li>Company loses its second most important executive.</li>\n <li>Model S Plaid event falls a bit flat.</li>\n <li>Stock can't make meaningful move above key technical level.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/707bb99dcaa93d75f576a78ef1ecd11c\" tg-width=\"768\" tg-height=\"512\"><span>jetcityimage/iStock Editorial via Getty Images</span></p>\n<p>Last week was supposed to be a good time for fans of Tesla (TSLA), with the company finally holding its meaningfully delayed Model S Plaid reveal event. Fans and investors were not only looking to see the latest performance details, but were hoping for other big surprises from the automaker. Unfortunately, the company's event was pretty much a dud, and other news out during the week raised even more questions about the company's near term future.</p>\n<p>Perhaps the biggest surprise to many&nbsp;was the departure&nbsp;of Jerome Guillen, the head of the heavy trucking division. Back in March, Guillen got that new title after formerly being the head of automotive. I had said then that this was a demotion, as he was leaving the bulk of Tesla's business&nbsp;for a niche segment&nbsp;with no revenues yet, but Tesla fans told me I was wrong. Well, now the company's second most important executive is definitely gone, leading many to question the future of the Tesla Semi.</p>\n<p>I'm more curious though if Guillen's departure raises a major question about Tesla's battery ambitions. The Semi was supposed to be here in 2019 with the new Roadster a year later, and neither are here yet. Both were dependent on Tesla's next generation battery, and just a week ago&nbsp;the company cancelled&nbsp;its Model S Plaid Plus. Elon Musk said that Plaid was just too good, but perhaps Tesla couldn't get the batteries needed to meet promised range specs? There have been questions for years about the numbers Tesla has given for the Semi, Roadster, etc. I should also note that while not totally related, the new Long Range Model S has seen its estimated range&nbsp;on the website configurator&nbsp;reduced from 412 to 405 miles since its soft launch a few months ago.</p>\n<p>The second item to think about is what's happening with Tesla sales in China. As the graphic below shows, the first two months of Q2 2020 saw the lowest first two months sales in that country in the last three quarters. Yes, Tesla is exporting a large number of vehicles to other markets, more than 11,500 Model 3 units in May. However, the original plan for the Shanghai factory was&nbsp;to serve China only&nbsp;with affordable 3/Y units. More expensive variants were to be produced in the US, and Tesla can't even sell out China production in its home market. Delivery estimates in that country remain at 1-3 weeks for both the 3 and Y, and new reports suggest&nbsp;loan rates have been slashed&nbsp;if you take delivery this month, implying that demand just isn't where management expected it to be.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c75e330376fd6f9a20e5e006f359508f\" tg-width=\"516\" tg-height=\"181\"><span>(Source: Carsalesbase,and Moneyball Twitter)</span></p>\n<p>Later in the week, Tesla finally unveiled the new Model S Plaid after months of delays, at an event&nbsp;that was more hype&nbsp;than anything else. A few things stated by the CEO didn't match up with the graphics behind him during the presentation, and it was&nbsp;reported earlier in the day&nbsp;that the vehicle can't even do the promised 200mph at this point. If you're in the market for a $130,000 vehicle that you only want to take to the track, however, then maybe this is for you.</p>\n<p>The Model S event was not a great show for electric vehicles overall in my opinion. Elon Musk boasted that the Plaid can get 187 miles of range with 15 minutes of charging, but a decent family gas-powered sedan can get 700 miles of highway range in a 5 minute gas stop. This is not going to be a high volume vehicle that will add anything meaningful to Tesla's financials, especially as the high end EV segment continues to become more crowded. Remember, this event was only after numerous delays, and Tesla's Model S page linked above still shows June availability for this new vehicle. Elon Musk highlighting some new features that will eventually help if Tesla solves its full self-driving ambitions, but that timeline remains uncertain.</p>\n<p>One other item that some investors continue to fret about is Tesla's Bitcoin position. With the cryptocurrency falling tremendously from its all-time high, the company could have left more than a billion dollars on the table by not selling it all already. While that doesn't represent a large portion of the company's cash, it would have made a nice profit, and now the position is getting closer to facing impairment charges. In the end, the concern is that the Bitcoin position takes some focus away from management and has been a major distraction for investors.</p>\n<p>Last week, Tesla shares finished up a little more than $10. A gain of almost 2% may not have been satisfying for the bulls given the company's big event. However, I'm more disappointed in the stock because the 10-Year US Treasury bond yield dropped by 10 basis points last week, which should have really helped Tesla shares and other big growth names to rally. Also, the stock has still not been able to make a major move away from its 200-day moving average (purple line) as seen in the chart below. The gap between that long term trend line and its shorter term technical counterpart is now less than $44 after peaking at nearly $320 earlier this year. This means that the dreaded death cross is more and more likely to happen in the coming weeks.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c236196cd82611a795260278e4a2d92\" tg-width=\"640\" tg-height=\"270\"><span>(Source: Yahoo! Finance)</span></p>\n<p>In the end, last week probably wasn't the one that Tesla fans and investors were really hoping for. The company lost its second most important executive, which puts into question progress on the Semi and other new battery related programs. Additionally, China sales haven't progressed much on their own, definitely not to the point where that factory only supplies to that country. Late in the week, the Model S event was not very exciting, and did little to energize the stock. At the same time, investors still fret over the Bitcoin position, while shares remain unable to make a solid move above their long term moving average. It probably will be a few weeks until we get a new catalyst to watch, with the Q2 production and delivery report scheduled for early July.</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>Tesla Takes A Step Back</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\">\nTesla Takes A Step Back\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 13:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4434829-tesla-takes-a-step-back><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nCompany loses its second most important executive.\nModel S Plaid event falls a bit flat.\nStock can't make meaningful move above key technical level.\n\njetcityimage/iStock Editorial via Getty ...</p>\n\n<a href=\"https://seekingalpha.com/article/4434829-tesla-takes-a-step-back\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4434829-tesla-takes-a-step-back","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106218942","content_text":"Summary\n\nCompany loses its second most important executive.\nModel S Plaid event falls a bit flat.\nStock can't make meaningful move above key technical level.\n\njetcityimage/iStock Editorial via Getty Images\nLast week was supposed to be a good time for fans of Tesla (TSLA), with the company finally holding its meaningfully delayed Model S Plaid reveal event. Fans and investors were not only looking to see the latest performance details, but were hoping for other big surprises from the automaker. Unfortunately, the company's event was pretty much a dud, and other news out during the week raised even more questions about the company's near term future.\nPerhaps the biggest surprise to many was the departure of Jerome Guillen, the head of the heavy trucking division. Back in March, Guillen got that new title after formerly being the head of automotive. I had said then that this was a demotion, as he was leaving the bulk of Tesla's business for a niche segment with no revenues yet, but Tesla fans told me I was wrong. Well, now the company's second most important executive is definitely gone, leading many to question the future of the Tesla Semi.\nI'm more curious though if Guillen's departure raises a major question about Tesla's battery ambitions. The Semi was supposed to be here in 2019 with the new Roadster a year later, and neither are here yet. Both were dependent on Tesla's next generation battery, and just a week ago the company cancelled its Model S Plaid Plus. Elon Musk said that Plaid was just too good, but perhaps Tesla couldn't get the batteries needed to meet promised range specs? There have been questions for years about the numbers Tesla has given for the Semi, Roadster, etc. I should also note that while not totally related, the new Long Range Model S has seen its estimated range on the website configurator reduced from 412 to 405 miles since its soft launch a few months ago.\nThe second item to think about is what's happening with Tesla sales in China. As the graphic below shows, the first two months of Q2 2020 saw the lowest first two months sales in that country in the last three quarters. Yes, Tesla is exporting a large number of vehicles to other markets, more than 11,500 Model 3 units in May. However, the original plan for the Shanghai factory was to serve China only with affordable 3/Y units. More expensive variants were to be produced in the US, and Tesla can't even sell out China production in its home market. Delivery estimates in that country remain at 1-3 weeks for both the 3 and Y, and new reports suggest loan rates have been slashed if you take delivery this month, implying that demand just isn't where management expected it to be.\n(Source: Carsalesbase,and Moneyball Twitter)\nLater in the week, Tesla finally unveiled the new Model S Plaid after months of delays, at an event that was more hype than anything else. A few things stated by the CEO didn't match up with the graphics behind him during the presentation, and it was reported earlier in the day that the vehicle can't even do the promised 200mph at this point. If you're in the market for a $130,000 vehicle that you only want to take to the track, however, then maybe this is for you.\nThe Model S event was not a great show for electric vehicles overall in my opinion. Elon Musk boasted that the Plaid can get 187 miles of range with 15 minutes of charging, but a decent family gas-powered sedan can get 700 miles of highway range in a 5 minute gas stop. This is not going to be a high volume vehicle that will add anything meaningful to Tesla's financials, especially as the high end EV segment continues to become more crowded. Remember, this event was only after numerous delays, and Tesla's Model S page linked above still shows June availability for this new vehicle. Elon Musk highlighting some new features that will eventually help if Tesla solves its full self-driving ambitions, but that timeline remains uncertain.\nOne other item that some investors continue to fret about is Tesla's Bitcoin position. With the cryptocurrency falling tremendously from its all-time high, the company could have left more than a billion dollars on the table by not selling it all already. While that doesn't represent a large portion of the company's cash, it would have made a nice profit, and now the position is getting closer to facing impairment charges. In the end, the concern is that the Bitcoin position takes some focus away from management and has been a major distraction for investors.\nLast week, Tesla shares finished up a little more than $10. A gain of almost 2% may not have been satisfying for the bulls given the company's big event. However, I'm more disappointed in the stock because the 10-Year US Treasury bond yield dropped by 10 basis points last week, which should have really helped Tesla shares and other big growth names to rally. Also, the stock has still not been able to make a major move away from its 200-day moving average (purple line) as seen in the chart below. The gap between that long term trend line and its shorter term technical counterpart is now less than $44 after peaking at nearly $320 earlier this year. This means that the dreaded death cross is more and more likely to happen in the coming weeks.\n(Source: Yahoo! Finance)\nIn the end, last week probably wasn't the one that Tesla fans and investors were really hoping for. The company lost its second most important executive, which puts into question progress on the Semi and other new battery related programs. Additionally, China sales haven't progressed much on their own, definitely not to the point where that factory only supplies to that country. Late in the week, the Model S event was not very exciting, and did little to energize the stock. At the same time, investors still fret over the Bitcoin position, while shares remain unable to make a solid move above their long term moving average. It probably will be a few weeks until we get a new catalyst to watch, with the Q2 production and delivery report scheduled for early July.","news_type":1},"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187292052,"gmtCreate":1623754574476,"gmtModify":1704210602368,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187292052","repostId":"1174890666","repostType":4,"isVote":1,"tweetType":1,"viewCount":335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187296407,"gmtCreate":1623754563609,"gmtModify":1704210602045,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187296407","repostId":"1122399963","repostType":4,"repost":{"id":"1122399963","pubTimestamp":1623742330,"share":"https://ttm.financial/m/news/1122399963?lang=&edition=fundamental","pubTime":"2021-06-15 15:32","market":"us","language":"en","title":"Apple and Google are forcing a rethink in advertising, ad guru Maurice Levy says","url":"https://stock-news.laohu8.com/highlight/detail?id=1122399963","media":"cnbc","summary":"KEY POINTS\n\nChanges to Apple and Google’s web tracking tools mean advertisers are having to “revisit","content":"<div>\n<p>KEY POINTS\n\nChanges to Apple and Google’s web tracking tools mean advertisers are having to “revisit the whole way we are working,” Publicis Chairman Maurice Levy said.\nApple has forced app developers...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/15/apple-google-force-rethink-in-advertising-industry-maurice-levy.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>Apple and Google are forcing a rethink in advertising, ad guru Maurice Levy says</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 and Google are forcing a rethink in advertising, ad guru Maurice Levy says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 15:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/15/apple-google-force-rethink-in-advertising-industry-maurice-levy.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChanges to Apple and Google’s web tracking tools mean advertisers are having to “revisit the whole way we are working,” Publicis Chairman Maurice Levy said.\nApple has forced app developers...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/15/apple-google-force-rethink-in-advertising-industry-maurice-levy.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A","AAPL":"苹果"},"source_url":"https://www.cnbc.com/2021/06/15/apple-google-force-rethink-in-advertising-industry-maurice-levy.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1122399963","content_text":"KEY POINTS\n\nChanges to Apple and Google’s web tracking tools mean advertisers are having to “revisit the whole way we are working,” Publicis Chairman Maurice Levy said.\nApple has forced app developers to ask permission to collect unique identifiers to target mobile ads, while Google plans to ditch third-party cookies on Chrome.\nLevy welcomed plans for a global minimum corporate tax of 15%, and said digital giants should pay their fair share in the countries in which they operate.\n\nDigital privacy moves fromAppleandGoogleare forcing the advertising industry to reconsider the way it works,Publicis Groupe’sMaurice Levy told CNBC.\nThe chairman of the world’s third-biggest advertising company said changes to Apple’s iOS smartphone software and Google’s Chrome web browser meant advertisers were having to “revisit the whole way we are working.”\n“It’s not a clear win” for traditional ad agencies, Levy told CNBC’s Karen Tso Monday.\n“Privacy is extremely important,” he added. “And I think the fact that all those platforms are taking care of the privacy of the consumers and their customers is something which is extraordinarily important. But this is leading to a revisit of the way we are working.”\nApple this year started forcing app developers on its platforms to ask permission before they can collectunique identifiersused by advertisers to target mobile ads and measure how effective they are.\nThe company had alreadybanned the use of unauthorized third-party cookies— which many advertisers rely on to track internet users and serve them with personalized ads — on its Safari browser.\nNow, Google also plans toditch third-party cookies on Chrome, and is in the process of searching for an alternative. Last week, the tech giant said it wouldgive Britain’s competition regulator a sayin its proposal to replace cookies.\nThe move has led to infighting in the tech industry, with Facebook and Apple sparring over the latter’s privacy updates. Facebook is likely to be one of the companies most affected by Apple’s iOS changes, and has been pushing into new business lines likeonline shoppingin an effort to cushion the blow.\nLevy said Publicis’$4.4 billion acquisition of data company Epsilonshould help to shield the marketing giant from the fallout of Apple and Google’s privacy changes.\nTech tax\nApple, Google and other large tech firms are facing growing scrutiny from regulators around the world over everything from their sheer size to how much tax they pay.\nThis month, the Group of Seven (G-7) richest nations agreed ahistoric dealto set a global minimum corporation tax of 15%. The move is aimed in large part at tackling tax avoidance from digital giants like Google, Apple, Facebook and Amazon, with a new tax system linked to the places where multinationals are actually doing business rather than where they are headquartered.\n“I think that the decision which has been made is a very good one,” Levy told CNBC’s Karen Tso. “I believe that it’s normal that somebody who is working in a country pay the taxes in that country.”\nLevy added: “15% is not excessive it’s a minimum I consider that this is fair and I believe that the G-20 will accept that kind of solution.”\n“As all of those platforms have valuation market cap which are above hundreds of billion — and sometimes trillion — it is important that they contribute to the taxes in the country where they operate.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187296643,"gmtCreate":1623754550182,"gmtModify":1704210604475,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187296643","repostId":"1184288080","repostType":4,"repost":{"id":"1184288080","pubTimestamp":1623742532,"share":"https://ttm.financial/m/news/1184288080?lang=&edition=fundamental","pubTime":"2021-06-15 15:35","market":"sg","language":"en","title":"Singapore’s Hyflux May Fetch Under $151 Million in Liquidation","url":"https://stock-news.laohu8.com/highlight/detail?id=1184288080","media":"Bloomberg","summary":"Keppel Infrastructure is one of the bidders: person familiar\nFirm has six offers after administrator","content":"<ul>\n <li>Keppel Infrastructure is one of the bidders: person familiar</li>\n <li>Firm has six offers after administrator decided on liquidation</li>\n</ul>\n<p>Asset sales in a liquidation process atHyflux Ltd., Singapore’s highest-profile distressed company, would likely bring in less than S$200 million ($151 million), a person familiar with the matter said, a fraction of the amount creditors are claiming.</p>\n<p>Hyflux’s judicial manager Borrelli Walsh Ltd. filed a court application earlier this month to wind up the water-treatment and power company, and said there aresix bidsinvolving individual assets.</p>\n<p>There’s no specific timeline to sell these assets, but the judicial manager aims to do so as soon as possible, according to the person, who asked not to be identified because the matter is private.</p>\n<p>Proceeds of that size from the liquidation would confirm creditors’ concerns that they may get little back from the company, whichbegana court-supervised debt restructuring process in 2018 and faced about S$2.8 billion in total investor claims. Investors in the once-highflying firm include about 34,000 individuals who put money in products including perpetual notes and preference shares.</p>\n<p>Borrelli Walsh, which has been in charge of Hyflux since November last year, said in its statement earlier this month that the remaining value of the Hyflux Group would be best realized in a liquidation;read more details.</p>\n<p>Patrick Bance, a Singapore-based director at Borrelli Walsh, declined to comment when asked about the asset sale forecasts.</p>\n<p>One of the bidders for Hyflux assets is Singapore’sKeppel Infrastructure Trust, according to the person. It’s interested in the TuasOne waste-to-energy plant and the remaining 30% stake in the SingSpring desalination plant that it doesn’t own already, the person said.</p>\n<p>Keppel Infrastructure has contractual rights to acquire the 30% stake in the SingSpring plant and to take over the operations, and that’s unaffected by the liquidation proceedings, the firm’s spokesperson said in an email response to Bloomberg queries. The company is unable to comment further due to ongoing confidential discussions with Hyflux’s judicial manager, the spokesperson said.</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>Singapore’s Hyflux May Fetch Under $151 Million in Liquidation</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\">\nSingapore’s Hyflux May Fetch Under $151 Million in Liquidation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 15:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-15/singapore-s-hyflux-may-fetch-under-151-million-in-liquidation?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Keppel Infrastructure is one of the bidders: person familiar\nFirm has six offers after administrator decided on liquidation\n\nAsset sales in a liquidation process atHyflux Ltd., Singapore’s highest-...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-15/singapore-s-hyflux-may-fetch-under-151-million-in-liquidation?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"600.SI":"凯发"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-15/singapore-s-hyflux-may-fetch-under-151-million-in-liquidation?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184288080","content_text":"Keppel Infrastructure is one of the bidders: person familiar\nFirm has six offers after administrator decided on liquidation\n\nAsset sales in a liquidation process atHyflux Ltd., Singapore’s highest-profile distressed company, would likely bring in less than S$200 million ($151 million), a person familiar with the matter said, a fraction of the amount creditors are claiming.\nHyflux’s judicial manager Borrelli Walsh Ltd. filed a court application earlier this month to wind up the water-treatment and power company, and said there aresix bidsinvolving individual assets.\nThere’s no specific timeline to sell these assets, but the judicial manager aims to do so as soon as possible, according to the person, who asked not to be identified because the matter is private.\nProceeds of that size from the liquidation would confirm creditors’ concerns that they may get little back from the company, whichbegana court-supervised debt restructuring process in 2018 and faced about S$2.8 billion in total investor claims. Investors in the once-highflying firm include about 34,000 individuals who put money in products including perpetual notes and preference shares.\nBorrelli Walsh, which has been in charge of Hyflux since November last year, said in its statement earlier this month that the remaining value of the Hyflux Group would be best realized in a liquidation;read more details.\nPatrick Bance, a Singapore-based director at Borrelli Walsh, declined to comment when asked about the asset sale forecasts.\nOne of the bidders for Hyflux assets is Singapore’sKeppel Infrastructure Trust, according to the person. It’s interested in the TuasOne waste-to-energy plant and the remaining 30% stake in the SingSpring desalination plant that it doesn’t own already, the person said.\nKeppel Infrastructure has contractual rights to acquire the 30% stake in the SingSpring plant and to take over the operations, and that’s unaffected by the liquidation proceedings, the firm’s spokesperson said in an email response to Bloomberg queries. The company is unable to comment further due to ongoing confidential discussions with Hyflux’s judicial manager, the spokesperson said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":280,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187296073,"gmtCreate":1623754531092,"gmtModify":1704210601073,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"PLTR","listText":"PLTR","text":"PLTR","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187296073","repostId":"1155798913","repostType":4,"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187299161,"gmtCreate":1623754405453,"gmtModify":1704210596053,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187299161","repostId":"1181891821","repostType":4,"isVote":1,"tweetType":1,"viewCount":360,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187299069,"gmtCreate":1623754392051,"gmtModify":1704210595731,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187299069","repostId":"1163671123","repostType":4,"repost":{"id":"1163671123","pubTimestamp":1623746274,"share":"https://ttm.financial/m/news/1163671123?lang=&edition=fundamental","pubTime":"2021-06-15 16:37","market":"us","language":"en","title":"Intel unveils Infrastructure Processing Units","url":"https://stock-news.laohu8.com/highlight/detail?id=1163671123","media":"seekingalpha","summary":"During the Six Five Summit, Intel(NASDAQ:INTC)unveils the Infrastructure Processing Unit or IPU, whi","content":"<p>During the Six Five Summit, Intel(NASDAQ:INTC)unveils the Infrastructure Processing Unit or IPU, which the company says is an evolution of its SmartNIC line of smart network adapters.</p>\n<p>When combined with Xeon processors, Intel says the IPUs will offer highly intelligent infrastructure acceleration. The programmable networking device helps hyperscale customers reduce overhead and free up performance for CPUs.</p>\n<p>\"There is a need for silicon solutions that act as a control point across the cloud infrastructure to accelerate that overhead portion - the infrastructure functions. We call this silicon solution a new unit of computing: the infrastructure processing unit,\" says Navin Shenoy, Intel EVP, Data Platforms Group, during his presentation.</p>\n<p><img src=\"https://static.tigerbbs.com/eb0304d17c767d838c48a91e235e3771\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Image source: Intel presentation.</i></p>\n<p>Intel says it has evolved its products in partnership with leading partners, including Microsoft, Baidu, JD.com, and VMware. The company says it's collaboration with the majority of hyperscalers, Intel is already the IPU market leader with its&nbsp;Xeon-D, FPGA, and Ethernet components.</p>\n<p>The first FPGA-based Intel IPU platforms are already deployed at multiple cloud service providers. The first ASIC IPU is currently under test.</p>\n<p>Shares&nbsp;of&nbsp;Intel&nbsp;rose&nbsp;slightly&nbsp;in&nbsp;premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/8f49620373c1a82a2d3553cf5dd85fdb\" tg-width=\"663\" tg-height=\"440\" referrerpolicy=\"no-referrer\"></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>Intel unveils Infrastructure Processing Units</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\">\nIntel unveils Infrastructure Processing Units\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 16:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3706124-intel-unveils-infrastructure-processing-units><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>During the Six Five Summit, Intel(NASDAQ:INTC)unveils the Infrastructure Processing Unit or IPU, which the company says is an evolution of its SmartNIC line of smart network adapters.\nWhen combined ...</p>\n\n<a href=\"https://seekingalpha.com/news/3706124-intel-unveils-infrastructure-processing-units\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔"},"source_url":"https://seekingalpha.com/news/3706124-intel-unveils-infrastructure-processing-units","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1163671123","content_text":"During the Six Five Summit, Intel(NASDAQ:INTC)unveils the Infrastructure Processing Unit or IPU, which the company says is an evolution of its SmartNIC line of smart network adapters.\nWhen combined with Xeon processors, Intel says the IPUs will offer highly intelligent infrastructure acceleration. The programmable networking device helps hyperscale customers reduce overhead and free up performance for CPUs.\n\"There is a need for silicon solutions that act as a control point across the cloud infrastructure to accelerate that overhead portion - the infrastructure functions. We call this silicon solution a new unit of computing: the infrastructure processing unit,\" says Navin Shenoy, Intel EVP, Data Platforms Group, during his presentation.\n\nImage source: Intel presentation.\nIntel says it has evolved its products in partnership with leading partners, including Microsoft, Baidu, JD.com, and VMware. The company says it's collaboration with the majority of hyperscalers, Intel is already the IPU market leader with its Xeon-D, FPGA, and Ethernet components.\nThe first FPGA-based Intel IPU platforms are already deployed at multiple cloud service providers. The first ASIC IPU is currently under test.\nShares of Intel rose slightly in premarket trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":72,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379258414,"gmtCreate":1618751114138,"gmtModify":1704714576846,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Huat&nbsp;","listText":"Huat&nbsp;","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/379258414","repostId":"1156411249","repostType":4,"repost":{"id":"1156411249","pubTimestamp":1618562497,"share":"https://ttm.financial/m/news/1156411249?lang=&edition=fundamental","pubTime":"2021-04-16 16:41","market":"us","language":"en","title":"Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1156411249","media":"zerohedge","summary":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent t","content":"<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&amp;P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.</p><p>That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"</p><p>He then asks if the tide has<i><b>finally</b></i>turned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"</p><p><img src=\"https://static.tigerbbs.com/a5db342a0e7b68b8405ce6d4041b71a0\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\">Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&amp;P 500 index with half the net exposure.</p><p>Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:</p><blockquote><i>When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.</i></blockquote><p>As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protect<s>the stock market and corporate bondholders</s>the economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"</p><p>The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:</p><blockquote><i>... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know?</i> <i><b>Do price increases come with a label that says “transitory”?</b></i> <i>Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.</i></blockquote><p>It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:</p><blockquote><i>The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.</i></blockquote><p>To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"</p><p>Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in<i>15 minutes</i>), \"it remains to be seen if it will have the stomach to use them when the time comes. That<b>is a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.</b>\"</p><p>The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:</p><ul><li><b>Brighthouse Financial (BHF, +22%)</b>benefitted from rising interest rates;</li><li><b>Danimer Scientific (DNMR, +61%)</b>began its life as a public company;</li><li><b>Concentrix (CNXC, +52%)</b>benefitted from strong demand and rising estimates;</li><li><b>Resideo Technologies (REZI, +33%)</b>was helped by the strong housing market;</li><li><b>Change Healthcare (CHNG, +18%)</b>agreed to be acquired by UnitedHealthcare;</li><li><b>AerCap Holdings (AER, +29%)</b>agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; and</li><li><b>An undisclosed healthcare short (-41%)</b>fell due to reduced government reimbursement for its product.</li></ul><p><i>(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).</i></p><p>Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.</p><p>What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:</p><blockquote><i>In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go.</i> <i><b>The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed.</b></i> <i>If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share.</i> <i><b>First, it is very healthy for market participants to discuss and debate stocks.</b></i> <i>This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed,</i> <i><b>but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick.</b></i> <i>Second, it is also fine to make bad stock picks.</i> <i><b>If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work?</b></i> <i>Third,</i> <i><b>payment for order flow is just disguised commissions.</b></i> <i>We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.”</i> <i><b>If you want the broker to work for you, pay a commission.</b></i> <i>Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.</i></blockquote><p>The punchline:<i>Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:</i></p><blockquote><i>Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation.</i> <i><b>Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor.</b></i> <i>As for Mr. Musk,</i> <i><b>we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants.</b></i> <i>Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets.</i> <i><b>Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat.</b></i> <i>It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.</i></blockquote><p>Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.</p><p>First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:</p><blockquote><i>The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.</i></blockquote><p>Einhorn next highlights one of the stocks most hated by the bearish community: GSX:</p><blockquote>The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, <b>causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.</b>The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.</blockquote><p>The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:</p><blockquote><i>Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September.</i> <i><b>HWIN reached a market cap of $113 million on February 8.</b></i> <i>The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.</i></blockquote><p>We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter is<i>identical</i>to ours, when we discussed the insane stock moves that dominated much of January and February:</p><blockquote><i><b>\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"</b></i></blockquote><p>Einhorn's full letter is below:</p><p><img src=\"https://static.tigerbbs.com/519bd51d93865787f487bbfdc930c706\" tg-width=\"946\" tg-height=\"496\"><img src=\"https://static.tigerbbs.com/1691d37b71b28794a2bc900aaf5b313e\" tg-width=\"857\" tg-height=\"687\"><img src=\"https://static.tigerbbs.com/a5d1e93a00a6d64936e9c09b9b940dbf\" tg-width=\"891\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/0c11ad8e34545a98ba8ee9c4fa8a78d9\" tg-width=\"909\" tg-height=\"477\"><img src=\"https://static.tigerbbs.com/fc8253cd105c8e2727495e1d34c6769b\" tg-width=\"887\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/e120ac355802479930a1b1e84bf46e3e\" tg-width=\"901\" tg-height=\"528\"><img src=\"https://static.tigerbbs.com/28989c8e07df2deede3e092055e09e70\" tg-width=\"895\" tg-height=\"564\"><img src=\"https://static.tigerbbs.com/7d526b287d859e129d81853c0be2ace0\" tg-width=\"869\" tg-height=\"559\"><img src=\"https://static.tigerbbs.com/8599ce79c9573aed1ca3b1266bd3400a\" tg-width=\"871\" tg-height=\"534\"><img src=\"https://static.tigerbbs.com/3ae554a242066a92e4095f35260ce325\" tg-width=\"917\" tg-height=\"639\"><img src=\"https://static.tigerbbs.com/df45fd1c31a9a0b5a376ec0fe6037598\" tg-width=\"883\" tg-height=\"522\"><img src=\"https://static.tigerbbs.com/b72d0f63d22768ed27882dca1e9f6048\" tg-width=\"878\" tg-height=\"420\"><img src=\"https://static.tigerbbs.com/cf93a682ea1bc652b5107e7ecf902b84\" tg-width=\"862\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/f0326abf9ee7f93425e7d4cb20e1f375\" tg-width=\"900\" tg-height=\"657\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nEinhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 16:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely\">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://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156411249","content_text":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"He then asks if the tide hasfinallyturned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&P 500 index with half the net exposure.Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protectthe stock market and corporate bondholdersthe economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know? Do price increases come with a label that says “transitory”? Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in15 minutes), \"it remains to be seen if it will have the stomach to use them when the time comes. Thatis a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.\"The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:Brighthouse Financial (BHF, +22%)benefitted from rising interest rates;Danimer Scientific (DNMR, +61%)began its life as a public company;Concentrix (CNXC, +52%)benefitted from strong demand and rising estimates;Resideo Technologies (REZI, +33%)was helped by the strong housing market;Change Healthcare (CHNG, +18%)agreed to be acquired by UnitedHealthcare;AerCap Holdings (AER, +29%)agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; andAn undisclosed healthcare short (-41%)fell due to reduced government reimbursement for its product.(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go. The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed. If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share. First, it is very healthy for market participants to discuss and debate stocks. This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed, but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick. Second, it is also fine to make bad stock picks. If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work? Third, payment for order flow is just disguised commissions. We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.” If you want the broker to work for you, pay a commission. Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.The punchline:Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation. Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor. As for Mr. Musk, we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants. Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets. Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat. It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.Einhorn next highlights one of the stocks most hated by the bearish community: GSX:The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September. HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter isidenticalto ours, when we discussed the insane stock moves that dominated much of January and February:\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"Einhorn's full letter is below:","news_type":1},"isVote":1,"tweetType":1,"viewCount":135,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387631482,"gmtCreate":1613744107046,"gmtModify":1704884449437,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Huat","listText":"Huat","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/387631482","repostId":"1137053250","repostType":4,"isVote":1,"tweetType":1,"viewCount":105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380768401,"gmtCreate":1612593178303,"gmtModify":1704873136821,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Huat leh&nbsp;","listText":"Huat leh&nbsp;","text":"Huat leh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/380768401","repostId":"2109727286","repostType":4,"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314169574,"gmtCreate":1612320158598,"gmtModify":1704869692671,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Huat","listText":"Huat","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314169574","repostId":"1183975527","repostType":4,"repost":{"id":"1183975527","pubTimestamp":1612319838,"share":"https://ttm.financial/m/news/1183975527?lang=&edition=fundamental","pubTime":"2021-02-03 10:37","market":"us","language":"en","title":"Investors Are Snapping Up a New Space Stock, Sending Shares Rocketing","url":"https://stock-news.laohu8.com/highlight/detail?id=1183975527","media":"barrons","summary":"Investors are excitedabout space—and they are jumping ona dealthat will bring another fledgling spac","content":"<p>Investors are excitedabout space—and they are jumping ona dealthat will bring another fledgling space company to public markets.</p>\n<p>Tuesday, space-launch company Astra announced it is merging with special purpose acquisition companyHolicity(ticker: HOL). When the merger is complete, the new company with trade under the stock symbol “ASTR.” Until then, space investors can buy Holicity stock. Indeed, they have started to already. Holicity shares were up more than 50% in Tuesday afternoon trading.</p>\n<p>“This transaction takes us a step closer to our mission of improving life on Earth from space by fully funding our plan to provide daily access to low Earth orbit from anywhere on the planet,” said Astra founder and CEO Chris Kemp in the company’snews release.</p>\n<p>The merger gives Astra a pro-forma market capitalization of almost $4.1 billion.</p>\n<p>The number of space stocks and data points is growing like, well, the constellation of satellites circling the globe.Lockheed Martin(LMT), for starters, recently paid about$4.4 billionto acquireAerojet Rocketdyne(ARJD). Space-logistics providerMomentusis merging withStable Road Acquisition(SRAC), giving Momentus a market capitalization of about $3.4 billion based on 151 million shares outstanding when the merger closes.</p>\n<p>Space-tourism pioneerVirgin Galactic(SPCE) has achieved a $12 billion market cap along with a strong following on Wall Street. Six Wall Street analysts rate the shares Buy, while three others rate the sharesHold. The average Buy-rating ratio for stocks in theDow Jones Industrial Averageis about 57%.</p>\n<p>Virgin Orbit is another space-launch services company that recently reached orbit. It is still privately held, not yet finding a SPAC merger partner.</p>\n<p>SpaceXis privately held, as well. Elon Musk’s space firm is the largest of the lot, valued at an estimated $46 billion. SpaceX pioneered the use of reusable rockets, helping to spark the space gold rush. Along with carrying astronautsfor NASAto the International Space Station, the company is launching itsStarlink satellitesto build a global, space-based Wi-Fi business.</p>\n<p>Astra’s rockets don’t appear to be reusable; it is lowering launch costs in other ways. “We’ve invested in machines and infrastructure to produce rockets at scale,” says Kemp ina video tourof the company’s manufacturing facility. Reaching orbit used to take tens of millions of dollars. New companies are lowering the bill to millions of dollars.</p>\n<p>Falling costs are opening outer space for business. For exactly what, however, is still a guess. “Were going to see new applications that no one has ever imagined that will help improve life on earth,” says Kemp. Among the possibilities that people are imagining are new communications technologies like the ones SpaceX is pursuing, detailed earth observation, early-warning systems for defense, and weather and GPS applications.</p>\n<p>Astra appears confident that new applications are coming. The company has ambitions to have daily orbital launches by 2025. Revenue is projected to reach $1.5 billion that year, and Astra projects almost $700 million in free cash flow.</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>Investors Are Snapping Up a New Space Stock, Sending Shares Rocketing</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\">\nInvestors Are Snapping Up a New Space Stock, Sending Shares Rocketing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/holicity-shares-rocket-higher-on-news-of-the-spacs-merger-with-astra-51612296073?mod=hp_LEADSUPP_3><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors are excitedabout space—and they are jumping ona dealthat will bring another fledgling space company to public markets.\nTuesday, space-launch company Astra announced it is merging with ...</p>\n\n<a href=\"https://www.barrons.com/articles/holicity-shares-rocket-higher-on-news-of-the-spacs-merger-with-astra-51612296073?mod=hp_LEADSUPP_3\">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://www.barrons.com/articles/holicity-shares-rocket-higher-on-news-of-the-spacs-merger-with-astra-51612296073?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183975527","content_text":"Investors are excitedabout space—and they are jumping ona dealthat will bring another fledgling space company to public markets.\nTuesday, space-launch company Astra announced it is merging with special purpose acquisition companyHolicity(ticker: HOL). When the merger is complete, the new company with trade under the stock symbol “ASTR.” Until then, space investors can buy Holicity stock. Indeed, they have started to already. Holicity shares were up more than 50% in Tuesday afternoon trading.\n“This transaction takes us a step closer to our mission of improving life on Earth from space by fully funding our plan to provide daily access to low Earth orbit from anywhere on the planet,” said Astra founder and CEO Chris Kemp in the company’snews release.\nThe merger gives Astra a pro-forma market capitalization of almost $4.1 billion.\nThe number of space stocks and data points is growing like, well, the constellation of satellites circling the globe.Lockheed Martin(LMT), for starters, recently paid about$4.4 billionto acquireAerojet Rocketdyne(ARJD). Space-logistics providerMomentusis merging withStable Road Acquisition(SRAC), giving Momentus a market capitalization of about $3.4 billion based on 151 million shares outstanding when the merger closes.\nSpace-tourism pioneerVirgin Galactic(SPCE) has achieved a $12 billion market cap along with a strong following on Wall Street. Six Wall Street analysts rate the shares Buy, while three others rate the sharesHold. The average Buy-rating ratio for stocks in theDow Jones Industrial Averageis about 57%.\nVirgin Orbit is another space-launch services company that recently reached orbit. It is still privately held, not yet finding a SPAC merger partner.\nSpaceXis privately held, as well. Elon Musk’s space firm is the largest of the lot, valued at an estimated $46 billion. SpaceX pioneered the use of reusable rockets, helping to spark the space gold rush. Along with carrying astronautsfor NASAto the International Space Station, the company is launching itsStarlink satellitesto build a global, space-based Wi-Fi business.\nAstra’s rockets don’t appear to be reusable; it is lowering launch costs in other ways. “We’ve invested in machines and infrastructure to produce rockets at scale,” says Kemp ina video tourof the company’s manufacturing facility. Reaching orbit used to take tens of millions of dollars. New companies are lowering the bill to millions of dollars.\nFalling costs are opening outer space for business. For exactly what, however, is still a guess. “Were going to see new applications that no one has ever imagined that will help improve life on earth,” says Kemp. Among the possibilities that people are imagining are new communications technologies like the ones SpaceX is pursuing, detailed earth observation, early-warning systems for defense, and weather and GPS applications.\nAstra appears confident that new applications are coming. The company has ambitions to have daily orbital launches by 2025. Revenue is projected to reach $1.5 billion that year, and Astra projects almost $700 million in free cash flow.","news_type":1},"isVote":1,"tweetType":1,"viewCount":100,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312297474,"gmtCreate":1612149523298,"gmtModify":1704867445540,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Good stuff&nbsp;","listText":"Good stuff&nbsp;","text":"Good stuff","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/312297474","repostId":"2107223515","repostType":2,"isVote":1,"tweetType":1,"viewCount":159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312295515,"gmtCreate":1612149088837,"gmtModify":1704867442787,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/312295515","repostId":"2107223515","repostType":2,"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":394515566,"gmtCreate":1608050044755,"gmtModify":1704973065571,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569671563535771","authorIdStr":"3569671563535771"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/394515566","isVote":1,"tweetType":1,"viewCount":166,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"idStr":"3527667803686145","authorIdStr":"3527667803686145"},"content":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","text":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","html":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":379258414,"gmtCreate":1618751114138,"gmtModify":1704714576846,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Huat&nbsp;","listText":"Huat&nbsp;","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/379258414","repostId":"1156411249","repostType":4,"repost":{"id":"1156411249","pubTimestamp":1618562497,"share":"https://ttm.financial/m/news/1156411249?lang=&edition=fundamental","pubTime":"2021-04-16 16:41","market":"us","language":"en","title":"Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1156411249","media":"zerohedge","summary":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent t","content":"<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&amp;P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.</p><p>That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"</p><p>He then asks if the tide has<i><b>finally</b></i>turned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"</p><p><img src=\"https://static.tigerbbs.com/a5db342a0e7b68b8405ce6d4041b71a0\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\">Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&amp;P 500 index with half the net exposure.</p><p>Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:</p><blockquote><i>When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.</i></blockquote><p>As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protect<s>the stock market and corporate bondholders</s>the economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"</p><p>The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:</p><blockquote><i>... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know?</i> <i><b>Do price increases come with a label that says “transitory”?</b></i> <i>Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.</i></blockquote><p>It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:</p><blockquote><i>The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.</i></blockquote><p>To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"</p><p>Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in<i>15 minutes</i>), \"it remains to be seen if it will have the stomach to use them when the time comes. That<b>is a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.</b>\"</p><p>The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:</p><ul><li><b>Brighthouse Financial (BHF, +22%)</b>benefitted from rising interest rates;</li><li><b>Danimer Scientific (DNMR, +61%)</b>began its life as a public company;</li><li><b>Concentrix (CNXC, +52%)</b>benefitted from strong demand and rising estimates;</li><li><b>Resideo Technologies (REZI, +33%)</b>was helped by the strong housing market;</li><li><b>Change Healthcare (CHNG, +18%)</b>agreed to be acquired by UnitedHealthcare;</li><li><b>AerCap Holdings (AER, +29%)</b>agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; and</li><li><b>An undisclosed healthcare short (-41%)</b>fell due to reduced government reimbursement for its product.</li></ul><p><i>(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).</i></p><p>Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.</p><p>What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:</p><blockquote><i>In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go.</i> <i><b>The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed.</b></i> <i>If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share.</i> <i><b>First, it is very healthy for market participants to discuss and debate stocks.</b></i> <i>This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed,</i> <i><b>but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick.</b></i> <i>Second, it is also fine to make bad stock picks.</i> <i><b>If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work?</b></i> <i>Third,</i> <i><b>payment for order flow is just disguised commissions.</b></i> <i>We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.”</i> <i><b>If you want the broker to work for you, pay a commission.</b></i> <i>Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.</i></blockquote><p>The punchline:<i>Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:</i></p><blockquote><i>Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation.</i> <i><b>Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor.</b></i> <i>As for Mr. Musk,</i> <i><b>we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants.</b></i> <i>Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets.</i> <i><b>Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat.</b></i> <i>It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.</i></blockquote><p>Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.</p><p>First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:</p><blockquote><i>The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.</i></blockquote><p>Einhorn next highlights one of the stocks most hated by the bearish community: GSX:</p><blockquote>The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, <b>causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.</b>The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.</blockquote><p>The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:</p><blockquote><i>Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September.</i> <i><b>HWIN reached a market cap of $113 million on February 8.</b></i> <i>The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.</i></blockquote><p>We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter is<i>identical</i>to ours, when we discussed the insane stock moves that dominated much of January and February:</p><blockquote><i><b>\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"</b></i></blockquote><p>Einhorn's full letter is below:</p><p><img src=\"https://static.tigerbbs.com/519bd51d93865787f487bbfdc930c706\" tg-width=\"946\" tg-height=\"496\"><img src=\"https://static.tigerbbs.com/1691d37b71b28794a2bc900aaf5b313e\" tg-width=\"857\" tg-height=\"687\"><img src=\"https://static.tigerbbs.com/a5d1e93a00a6d64936e9c09b9b940dbf\" tg-width=\"891\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/0c11ad8e34545a98ba8ee9c4fa8a78d9\" tg-width=\"909\" tg-height=\"477\"><img src=\"https://static.tigerbbs.com/fc8253cd105c8e2727495e1d34c6769b\" tg-width=\"887\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/e120ac355802479930a1b1e84bf46e3e\" tg-width=\"901\" tg-height=\"528\"><img src=\"https://static.tigerbbs.com/28989c8e07df2deede3e092055e09e70\" tg-width=\"895\" tg-height=\"564\"><img src=\"https://static.tigerbbs.com/7d526b287d859e129d81853c0be2ace0\" tg-width=\"869\" tg-height=\"559\"><img src=\"https://static.tigerbbs.com/8599ce79c9573aed1ca3b1266bd3400a\" tg-width=\"871\" tg-height=\"534\"><img src=\"https://static.tigerbbs.com/3ae554a242066a92e4095f35260ce325\" tg-width=\"917\" tg-height=\"639\"><img src=\"https://static.tigerbbs.com/df45fd1c31a9a0b5a376ec0fe6037598\" tg-width=\"883\" tg-height=\"522\"><img src=\"https://static.tigerbbs.com/b72d0f63d22768ed27882dca1e9f6048\" tg-width=\"878\" tg-height=\"420\"><img src=\"https://static.tigerbbs.com/cf93a682ea1bc652b5107e7ecf902b84\" tg-width=\"862\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/f0326abf9ee7f93425e7d4cb20e1f375\" tg-width=\"900\" tg-height=\"657\"></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>Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"</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; 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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\">\nEinhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 16:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely\">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://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156411249","content_text":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"He then asks if the tide hasfinallyturned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&P 500 index with half the net exposure.Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protectthe stock market and corporate bondholdersthe economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know? Do price increases come with a label that says “transitory”? Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in15 minutes), \"it remains to be seen if it will have the stomach to use them when the time comes. Thatis a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.\"The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:Brighthouse Financial (BHF, +22%)benefitted from rising interest rates;Danimer Scientific (DNMR, +61%)began its life as a public company;Concentrix (CNXC, +52%)benefitted from strong demand and rising estimates;Resideo Technologies (REZI, +33%)was helped by the strong housing market;Change Healthcare (CHNG, +18%)agreed to be acquired by UnitedHealthcare;AerCap Holdings (AER, +29%)agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; andAn undisclosed healthcare short (-41%)fell due to reduced government reimbursement for its product.(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go. The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed. If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share. First, it is very healthy for market participants to discuss and debate stocks. This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed, but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick. Second, it is also fine to make bad stock picks. If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work? Third, payment for order flow is just disguised commissions. We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.” If you want the broker to work for you, pay a commission. Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.The punchline:Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation. Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor. As for Mr. Musk, we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants. Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets. Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat. It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.Einhorn next highlights one of the stocks most hated by the bearish community: GSX:The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September. HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter isidenticalto ours, when we discussed the insane stock moves that dominated much of January and February:\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"Einhorn's full letter is below:","news_type":1},"isVote":1,"tweetType":1,"viewCount":135,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312297474,"gmtCreate":1612149523298,"gmtModify":1704867445540,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Good stuff&nbsp;","listText":"Good stuff&nbsp;","text":"Good stuff","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/312297474","repostId":"2107223515","repostType":2,"repost":{"id":"2107223515","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":1612039320,"share":"https://ttm.financial/m/news/2107223515?lang=&edition=fundamental","pubTime":"2021-01-31 04:42","market":"hk","language":"en","title":"Here's what the robot fund that's beating the S&P 500 is investing in now","url":"https://stock-news.laohu8.com/highlight/detail?id=2107223515","media":"Dow Jones","summary":"MW UPDATE: Here's what the robot fund that's beating the S&P 500 is investing in now\n\n\n  By Barbara ","content":"<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW UPDATE: Here's what the robot fund that's beating the S&amp;P 500 is investing in now\n</p>\n<p>\n  By Barbara Kollmeyer \n</p>\n<p>\n  Critical information for the U.S. trading day \n</p>\n<p>\n  A small struggle, led by technology, is shaping up for Tuesday, as a big earnings week is upon us and COVID-19 worries hover. One distraction right now -- the war between short sellers and a group of stock enthusiasts . \n</p>\n<p>\n  Shares of the videogame retailer are up 23% in premarket trading after Monday's wild session  of the dot-com boom and bust, and fears history could repeat. \n</p>\n<p>\n  Maybe <a href=\"https://laohu8.com/S/AONE\">one</a> day it will be easier, when the robots can do the thinking for us. That brings us to our call of the day, which comes from the DataTrek Research blog, who wonders whether a fund that relies on artificial intelligence for investing ideas and is heavy on tech stocks right now knows something we don't. \n</p>\n<p>\n  DataTrek notes the AI Powered Equity <a href=\"https://laohu8.com/S/AIEQ\">$(AIEQ)$</a> exchange-traded fund is up 12% year to date, versus a 2.6% gain for the S&amp;P 500 , and for 2020 was up 25%, versus an 18% gain, respectively. It has gained 101% from the March COVID-19 pandemic lows, versus a 72% gain for the S&amp;P. \n</p>\n<p>\n  Electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, solar solutions group <a href=\"https://laohu8.com/S/SPWR\">SunPower</a> (SPWR), chip group Advanced Micro Devices <a href=\"https://laohu8.com/S/AMD\">$(AMD)$</a>, energy technology group <a href=\"https://laohu8.com/S/ENPH\">Enphase Energy</a> (ENPH), and tech giant Alphabet <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> are the top five holdings. \n</p>\n<p>\n  What DataTrek found was the fund's top picks are more tech heavy than last October, when more cyclical flavored stocks such as health care group Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and automobile maker Ford <a href=\"https://laohu8.com/S/F\">$(F)$</a>made it into the top 10. \n</p>\n<p>\n  \"AIEQ seems to have been picking up a good bit of market 'signal' in the last 12 months, so the fact that it is lightening up on cyclicals at the top of the sheet and maintaining/increasing its exposure to disruptive tech names (TSLA, SPWR, ENPH) is interesting,\" says DataTrek . \n</p>\n<p>\n  What it could mean? A human manager backing away from cyclicals at the moment could be a sign of cold feet over the progress of the COVID-19 vaccine rollout. \n</p>\n<p>\n  As the DataTrek folks say, this AI ETF's plays mirror those of a successful hedge-fund manager of the 1990s -- \"well-known stocks that play well-understood themes. Perhaps the real power of artificial intelligence-powered investing is simply not overthinking things too much.\" \n</p>\n<p>\n  The markets \n</p>\n<p>\n  Stocks  are flat, while European equities   and reportedly warned of asset bubble risks. \n</p>\n<p>\n  The tweet \n</p>\n<p>\n  From Alexis Ohanian, husband of tennis star Serena Williams and co-founder of Reddit: \n</p>\n<p>\n  The buzz \n</p>\n<p>\n  Reporting ahead of the market open, shares of conglomerate General Electric <a href=\"https://laohu8.com/S/GE\">$(GE)$</a> are rising as revenue beat forecasts  report. \n</p>\n<p>\n  Shares of e-commerce website Etsy <a href=\"https://laohu8.com/S/ETSY\">$(ETSY)$</a> are up 9% in premarket. That move seems to have coincided with a comment on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> (TWTR) by Tesla Chief Executive Elon Musk, who said \"I kinda love Etsy .\" \n</p>\n<p>\n  The Federal Housing Finance Agency house price index, the S&amp;P Case-Shiller home price index, and consumer confidence data are all ahead. \n</p>\n<p>\n  BlackRock <a href=\"https://laohu8.com/S/BLK\">$(BLK)$</a> Chief Executive Larry Fink says companies need to set out environmental goals or face divestiture . \n</p>\n<p>\n  European Union officials had a tense chat  on Monday over COVID-19 vaccine delays, and have threatened export controls of any vaccines produced in the region. \n</p>\n<p>\n  Alternative asset manager Apollo Global Management <a href=\"https://laohu8.com/S/APO\">$(APO)$</a> says Chief Executive Leon Black will step down by July . \n</p>\n<p>\n  Lawmakers are moving forward  with an impeachment trial of former President Donald Trump. \n</p>\n<p>\n  Shares of Chinese technology conglomerate holding company Tencent  pulled back, after Monday's 11% surge that brought it near a $1 trillion valuation. And China's central bank chief struggled to respond to a question regarding digital payment group Ant Financial,  whose initial public offering has been delayed. \n</p>\n<p>\n  Random reads \n</p>\n<p>\n  Like any good Spaniard will tell you, naps are a good thing . \n</p>\n<p>\n  Snowball fights in locked-down U.K.? That could cost you . \n</p>\n<p>\n  Need to Know starts early and is updated until the opening bell, but sign up here  to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern. \n</p>\n<p>\n  Want more for the day ahead? Sign up for The Barron's Daily , a morning briefing for investors, including exclusive commentary from Barron's and MarketWatch writers. \n</p>\n<p>\n  -Barbara Kollmeyer; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  January 30, 2021 15:42 ET (20:42 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's what the robot fund that's beating the S&P 500 is investing in now</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere's what the robot fund that's beating the S&P 500 is investing in now\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\">2021-01-31 04:42</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW UPDATE: Here's what the robot fund that's beating the S&amp;P 500 is investing in now\n</p>\n<p>\n  By Barbara Kollmeyer \n</p>\n<p>\n  Critical information for the U.S. trading day \n</p>\n<p>\n  A small struggle, led by technology, is shaping up for Tuesday, as a big earnings week is upon us and COVID-19 worries hover. One distraction right now -- the war between short sellers and a group of stock enthusiasts . \n</p>\n<p>\n  Shares of the videogame retailer are up 23% in premarket trading after Monday's wild session  of the dot-com boom and bust, and fears history could repeat. \n</p>\n<p>\n  Maybe <a href=\"https://laohu8.com/S/AONE\">one</a> day it will be easier, when the robots can do the thinking for us. That brings us to our call of the day, which comes from the DataTrek Research blog, who wonders whether a fund that relies on artificial intelligence for investing ideas and is heavy on tech stocks right now knows something we don't. \n</p>\n<p>\n  DataTrek notes the AI Powered Equity <a href=\"https://laohu8.com/S/AIEQ\">$(AIEQ)$</a> exchange-traded fund is up 12% year to date, versus a 2.6% gain for the S&amp;P 500 , and for 2020 was up 25%, versus an 18% gain, respectively. It has gained 101% from the March COVID-19 pandemic lows, versus a 72% gain for the S&amp;P. \n</p>\n<p>\n  Electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, solar solutions group <a href=\"https://laohu8.com/S/SPWR\">SunPower</a> (SPWR), chip group Advanced Micro Devices <a href=\"https://laohu8.com/S/AMD\">$(AMD)$</a>, energy technology group <a href=\"https://laohu8.com/S/ENPH\">Enphase Energy</a> (ENPH), and tech giant Alphabet <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> are the top five holdings. \n</p>\n<p>\n  What DataTrek found was the fund's top picks are more tech heavy than last October, when more cyclical flavored stocks such as health care group Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and automobile maker Ford <a href=\"https://laohu8.com/S/F\">$(F)$</a>made it into the top 10. \n</p>\n<p>\n  \"AIEQ seems to have been picking up a good bit of market 'signal' in the last 12 months, so the fact that it is lightening up on cyclicals at the top of the sheet and maintaining/increasing its exposure to disruptive tech names (TSLA, SPWR, ENPH) is interesting,\" says DataTrek . \n</p>\n<p>\n  What it could mean? A human manager backing away from cyclicals at the moment could be a sign of cold feet over the progress of the COVID-19 vaccine rollout. \n</p>\n<p>\n  As the DataTrek folks say, this AI ETF's plays mirror those of a successful hedge-fund manager of the 1990s -- \"well-known stocks that play well-understood themes. Perhaps the real power of artificial intelligence-powered investing is simply not overthinking things too much.\" \n</p>\n<p>\n  The markets \n</p>\n<p>\n  Stocks  are flat, while European equities   and reportedly warned of asset bubble risks. \n</p>\n<p>\n  The tweet \n</p>\n<p>\n  From Alexis Ohanian, husband of tennis star Serena Williams and co-founder of Reddit: \n</p>\n<p>\n  The buzz \n</p>\n<p>\n  Reporting ahead of the market open, shares of conglomerate General Electric <a href=\"https://laohu8.com/S/GE\">$(GE)$</a> are rising as revenue beat forecasts  report. \n</p>\n<p>\n  Shares of e-commerce website Etsy <a href=\"https://laohu8.com/S/ETSY\">$(ETSY)$</a> are up 9% in premarket. That move seems to have coincided with a comment on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> (TWTR) by Tesla Chief Executive Elon Musk, who said \"I kinda love Etsy .\" \n</p>\n<p>\n  The Federal Housing Finance Agency house price index, the S&amp;P Case-Shiller home price index, and consumer confidence data are all ahead. \n</p>\n<p>\n  BlackRock <a href=\"https://laohu8.com/S/BLK\">$(BLK)$</a> Chief Executive Larry Fink says companies need to set out environmental goals or face divestiture . \n</p>\n<p>\n  European Union officials had a tense chat  on Monday over COVID-19 vaccine delays, and have threatened export controls of any vaccines produced in the region. \n</p>\n<p>\n  Alternative asset manager Apollo Global Management <a href=\"https://laohu8.com/S/APO\">$(APO)$</a> says Chief Executive Leon Black will step down by July . \n</p>\n<p>\n  Lawmakers are moving forward  with an impeachment trial of former President Donald Trump. \n</p>\n<p>\n  Shares of Chinese technology conglomerate holding company Tencent  pulled back, after Monday's 11% surge that brought it near a $1 trillion valuation. And China's central bank chief struggled to respond to a question regarding digital payment group Ant Financial,  whose initial public offering has been delayed. \n</p>\n<p>\n  Random reads \n</p>\n<p>\n  Like any good Spaniard will tell you, naps are a good thing . \n</p>\n<p>\n  Snowball fights in locked-down U.K.? That could cost you . \n</p>\n<p>\n  Need to Know starts early and is updated until the opening bell, but sign up here  to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern. \n</p>\n<p>\n  Want more for the day ahead? Sign up for The Barron's Daily , a morning briefing for investors, including exclusive commentary from Barron's and MarketWatch writers. \n</p>\n<p>\n  -Barbara Kollmeyer; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  January 30, 2021 15:42 ET (20:42 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","IVV":"标普500指数ETF","SPY":"标普500ETF","SDS":"两倍做空标普500ETF","SSO":"两倍做多标普500ETF","UPRO":"三倍做多标普500ETF","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","OEX":"标普100",".SPX":"S&P 500 Index","SH":"标普500反向ETF"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2107223515","content_text":"MW UPDATE: Here's what the robot fund that's beating the S&P 500 is investing in now\n\n\n  By Barbara Kollmeyer \n\n\n  Critical information for the U.S. trading day \n\n\n  A small struggle, led by technology, is shaping up for Tuesday, as a big earnings week is upon us and COVID-19 worries hover. One distraction right now -- the war between short sellers and a group of stock enthusiasts . \n\n\n  Shares of the videogame retailer are up 23% in premarket trading after Monday's wild session  of the dot-com boom and bust, and fears history could repeat. \n\n\n  Maybe one day it will be easier, when the robots can do the thinking for us. That brings us to our call of the day, which comes from the DataTrek Research blog, who wonders whether a fund that relies on artificial intelligence for investing ideas and is heavy on tech stocks right now knows something we don't. \n\n\n  DataTrek notes the AI Powered Equity $(AIEQ)$ exchange-traded fund is up 12% year to date, versus a 2.6% gain for the S&P 500 , and for 2020 was up 25%, versus an 18% gain, respectively. It has gained 101% from the March COVID-19 pandemic lows, versus a 72% gain for the S&P. \n\n\n  Electric-car maker Tesla $(TSLA)$, solar solutions group SunPower (SPWR), chip group Advanced Micro Devices $(AMD)$, energy technology group Enphase Energy (ENPH), and tech giant Alphabet $(GOOGL)$ are the top five holdings. \n\n\n  What DataTrek found was the fund's top picks are more tech heavy than last October, when more cyclical flavored stocks such as health care group Pfizer $(PFE)$ and automobile maker Ford $(F)$made it into the top 10. \n\n\n  \"AIEQ seems to have been picking up a good bit of market 'signal' in the last 12 months, so the fact that it is lightening up on cyclicals at the top of the sheet and maintaining/increasing its exposure to disruptive tech names (TSLA, SPWR, ENPH) is interesting,\" says DataTrek . \n\n\n  What it could mean? A human manager backing away from cyclicals at the moment could be a sign of cold feet over the progress of the COVID-19 vaccine rollout. \n\n\n  As the DataTrek folks say, this AI ETF's plays mirror those of a successful hedge-fund manager of the 1990s -- \"well-known stocks that play well-understood themes. Perhaps the real power of artificial intelligence-powered investing is simply not overthinking things too much.\" \n\n\n  The markets \n\n\n  Stocks  are flat, while European equities   and reportedly warned of asset bubble risks. \n\n\n  The tweet \n\n\n  From Alexis Ohanian, husband of tennis star Serena Williams and co-founder of Reddit: \n\n\n  The buzz \n\n\n  Reporting ahead of the market open, shares of conglomerate General Electric $(GE)$ are rising as revenue beat forecasts  report. \n\n\n  Shares of e-commerce website Etsy $(ETSY)$ are up 9% in premarket. That move seems to have coincided with a comment on Twitter (TWTR) by Tesla Chief Executive Elon Musk, who said \"I kinda love Etsy .\" \n\n\n  The Federal Housing Finance Agency house price index, the S&P Case-Shiller home price index, and consumer confidence data are all ahead. \n\n\n  BlackRock $(BLK)$ Chief Executive Larry Fink says companies need to set out environmental goals or face divestiture . \n\n\n  European Union officials had a tense chat  on Monday over COVID-19 vaccine delays, and have threatened export controls of any vaccines produced in the region. \n\n\n  Alternative asset manager Apollo Global Management $(APO)$ says Chief Executive Leon Black will step down by July . \n\n\n  Lawmakers are moving forward  with an impeachment trial of former President Donald Trump. \n\n\n  Shares of Chinese technology conglomerate holding company Tencent  pulled back, after Monday's 11% surge that brought it near a $1 trillion valuation. And China's central bank chief struggled to respond to a question regarding digital payment group Ant Financial,  whose initial public offering has been delayed. \n\n\n  Random reads \n\n\n  Like any good Spaniard will tell you, naps are a good thing . \n\n\n  Snowball fights in locked-down U.K.? That could cost you . \n\n\n  Need to Know starts early and is updated until the opening bell, but sign up here  to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern. \n\n\n  Want more for the day ahead? Sign up for The Barron's Daily , a morning briefing for investors, including exclusive commentary from Barron's and MarketWatch writers. \n\n\n  -Barbara Kollmeyer; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  January 30, 2021 15:42 ET (20:42 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"tweetType":1,"viewCount":159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":394515566,"gmtCreate":1608050044755,"gmtModify":1704973065571,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/394515566","isVote":1,"tweetType":1,"viewCount":166,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3527667803686145","idStr":"3527667803686145"},"content":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","text":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","html":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169820750,"gmtCreate":1623828599570,"gmtModify":1703820697845,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169820750","repostId":"1182315358","repostType":4,"repost":{"id":"1182315358","pubTimestamp":1623814338,"share":"https://ttm.financial/m/news/1182315358?lang=&edition=fundamental","pubTime":"2021-06-16 11:32","market":"us","language":"en","title":"It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1182315358","media":"MarketWatch","summary":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn","content":"<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/724d1ea0bb18bddb367c79abf08c1af9\" tg-width=\"1260\" tg-height=\"841\"><span>It takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)</span></p>\n<p>I don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.</p>\n<p>After 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.</p>\n<p>Maybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.</p>\n<p>But I simply don’t think that’s the most likely outcome.</p>\n<p>And if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.</p>\n<p>I’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.</p>\n<p>Trading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how&nbsp;good analysis starts with empathy.</p>\n<p><b>If I’m selling, who’s buying — and why?</b></p>\n<p>So let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference&nbsp;in Abu Dhabi and everybody was desperate for returns:</p>\n<p>Amid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”</p>\n<p>Since that post, back a year and a half ago, Slack&nbsp;went from $21 to being bought out at $45, Twitter&nbsp;went from $27 to $61, and Tesla&nbsp;went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.</p>\n<p>And now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by&nbsp;23-year-old TikTok influencers&nbsp;doing bitcoin&nbsp;trading astrology.</p>\n<p>Yes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.”&nbsp;Bearish anecdotes everywhere I look, as I wrote recently.</p>\n<p><b>Mr. Market</b></p>\n<p>The other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.</p>\n<p>Mr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.</p>\n<p>Sometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average&nbsp;up 400% from the 1921 lows to the 1929 highs.</p>\n<p><img src=\"https://static.tigerbbs.com/3a6516337aacc614d83584ea90e174f2\" tg-width=\"1260\" tg-height=\"870\"></p>\n<p><b>Learning from Soros</b></p>\n<p>But looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,<i>and</i>the economy crashed because the markets shut down access to capital for investment and growth.</p>\n<p>It was “reflexive,” to borrow a term from the great hedge fund manager&nbsp;George Soros.</p>\n<p>He wrote, and the concept is important to understand:</p>\n<p>“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…</p>\n<p>“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…</p>\n<p>“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…</p>\n<p>“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”</p>\n<p>Stay flexible</p>\n<p>Far-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.</p>\n<p>We don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.</p>\n<p>It’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.</p>\n<p>Most traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.</p>\n<p>We are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.</p>\n<p>I spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.</p>\n<p>As a matter of fact,&nbsp;I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?</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>It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in 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\">\nIt’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what...</p>\n\n<a href=\"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2\">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",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182315358","content_text":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.\nAfter 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.\nMaybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.\nBut I simply don’t think that’s the most likely outcome.\nAnd if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.\nI’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.\nTrading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how good analysis starts with empathy.\nIf I’m selling, who’s buying — and why?\nSo let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference in Abu Dhabi and everybody was desperate for returns:\nAmid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”\nSince that post, back a year and a half ago, Slack went from $21 to being bought out at $45, Twitter went from $27 to $61, and Tesla went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.\nAnd now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by 23-year-old TikTok influencers doing bitcoin trading astrology.\nYes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.” Bearish anecdotes everywhere I look, as I wrote recently.\nMr. Market\nThe other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.\nMr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.\nSometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average up 400% from the 1921 lows to the 1929 highs.\n\nLearning from Soros\nBut looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,andthe economy crashed because the markets shut down access to capital for investment and growth.\nIt was “reflexive,” to borrow a term from the great hedge fund manager George Soros.\nHe wrote, and the concept is important to understand:\n“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…\n“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…\n“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…\n“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”\nStay flexible\nFar-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.\nWe don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.\nIt’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.\nMost traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.\nWe are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.\nI spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.\nAs a matter of fact, I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?","news_type":1},"isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187292052,"gmtCreate":1623754574476,"gmtModify":1704210602368,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187292052","repostId":"1174890666","repostType":4,"isVote":1,"tweetType":1,"viewCount":335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187296073,"gmtCreate":1623754531092,"gmtModify":1704210601073,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"PLTR","listText":"PLTR","text":"PLTR","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187296073","repostId":"1155798913","repostType":4,"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387631482,"gmtCreate":1613744107046,"gmtModify":1704884449437,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Huat","listText":"Huat","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/387631482","repostId":"1137053250","repostType":4,"repost":{"id":"1137053250","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":1613716832,"share":"https://ttm.financial/m/news/1137053250?lang=&edition=fundamental","pubTime":"2021-02-19 14:40","market":"fut","language":"en","title":"Goldman Sachs sees minimal oil price impact from Texas freeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1137053250","media":"Reuters","summary":"Feb 19 (Reuters) - A deep freeze in Texas that has brought power outages and shut refineries and pip","content":"<p>Feb 19 (Reuters) - A deep freeze in Texas that has brought power outages and shut refineries and pipelines will have only a small and transitory impact on the global oil market, Goldman Sachs said in a note.</p><p>Oil prices slid by up to 2% on Friday, on worries that refineries will take time to resume operations after the big freeze in the U.S. South, creating a gap in demand, while OPEC+ supplies were expected to rise.</p><p>Texas’s energy outages extended into a sixth day on Thursday, with the impact of reduced supplies from the biggest energy-producing state in the United States spilling over to neighbouring Mexico.</p><p>The bank estimates an average decline of 700,000 barrels per day (bpd) in February production of U.S. Lower-48 onshore crude, seeing a quick output rebound on expectations of warmer weather this weekend.</p><p>“While the gross impacts on supply and demand are large, they are mostly offsetting, and even more importantly, transitory, resulting in minimal implications for global oil prices, leaving risks to a further reversal of this week’s rally,” it said in Thursday’s note.</p><p>Goldman estimates, on the demand side, industrial and shale downtime will reduce refinery gas by 50,000 bpd and diesel consumption by 150,000 bpd, while blocked roads and canceled flights will limit road gasoline demand by 250,000 bpd and jet fuel demand by 60,000 bpd.</p><p>Low temperatures and power outages should fuel heating demand for LPG by 80,000 bpd and for diesel powered generators by 200,000 bpd, however, it said.</p><p>Since oil refineries are potentially worse prepared for uniquely cold weather than seasonal storms, that could leave risks to the downside to even more prolonged refining downtime, it added. (Reporting by Sumita Layek in Bengaluru; Editing by Clarence Fernandez)</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>Goldman Sachs sees minimal oil price impact from Texas freeze</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\">\nGoldman Sachs sees minimal oil price impact from Texas freeze\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\">2021-02-19 14:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Feb 19 (Reuters) - A deep freeze in Texas that has brought power outages and shut refineries and pipelines will have only a small and transitory impact on the global oil market, Goldman Sachs said in a note.</p><p>Oil prices slid by up to 2% on Friday, on worries that refineries will take time to resume operations after the big freeze in the U.S. South, creating a gap in demand, while OPEC+ supplies were expected to rise.</p><p>Texas’s energy outages extended into a sixth day on Thursday, with the impact of reduced supplies from the biggest energy-producing state in the United States spilling over to neighbouring Mexico.</p><p>The bank estimates an average decline of 700,000 barrels per day (bpd) in February production of U.S. Lower-48 onshore crude, seeing a quick output rebound on expectations of warmer weather this weekend.</p><p>“While the gross impacts on supply and demand are large, they are mostly offsetting, and even more importantly, transitory, resulting in minimal implications for global oil prices, leaving risks to a further reversal of this week’s rally,” it said in Thursday’s note.</p><p>Goldman estimates, on the demand side, industrial and shale downtime will reduce refinery gas by 50,000 bpd and diesel consumption by 150,000 bpd, while blocked roads and canceled flights will limit road gasoline demand by 250,000 bpd and jet fuel demand by 60,000 bpd.</p><p>Low temperatures and power outages should fuel heating demand for LPG by 80,000 bpd and for diesel powered generators by 200,000 bpd, however, it said.</p><p>Since oil refineries are potentially worse prepared for uniquely cold weather than seasonal storms, that could leave risks to the downside to even more prolonged refining downtime, it added. (Reporting by Sumita Layek in Bengaluru; Editing by Clarence Fernandez)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137053250","content_text":"Feb 19 (Reuters) - A deep freeze in Texas that has brought power outages and shut refineries and pipelines will have only a small and transitory impact on the global oil market, Goldman Sachs said in a note.Oil prices slid by up to 2% on Friday, on worries that refineries will take time to resume operations after the big freeze in the U.S. South, creating a gap in demand, while OPEC+ supplies were expected to rise.Texas’s energy outages extended into a sixth day on Thursday, with the impact of reduced supplies from the biggest energy-producing state in the United States spilling over to neighbouring Mexico.The bank estimates an average decline of 700,000 barrels per day (bpd) in February production of U.S. Lower-48 onshore crude, seeing a quick output rebound on expectations of warmer weather this weekend.“While the gross impacts on supply and demand are large, they are mostly offsetting, and even more importantly, transitory, resulting in minimal implications for global oil prices, leaving risks to a further reversal of this week’s rally,” it said in Thursday’s note.Goldman estimates, on the demand side, industrial and shale downtime will reduce refinery gas by 50,000 bpd and diesel consumption by 150,000 bpd, while blocked roads and canceled flights will limit road gasoline demand by 250,000 bpd and jet fuel demand by 60,000 bpd.Low temperatures and power outages should fuel heating demand for LPG by 80,000 bpd and for diesel powered generators by 200,000 bpd, however, it said.Since oil refineries are potentially worse prepared for uniquely cold weather than seasonal storms, that could leave risks to the downside to even more prolonged refining downtime, it added. (Reporting by Sumita Layek in Bengaluru; Editing by Clarence Fernandez)","news_type":1},"isVote":1,"tweetType":1,"viewCount":105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380768401,"gmtCreate":1612593178303,"gmtModify":1704873136821,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Huat leh&nbsp;","listText":"Huat leh&nbsp;","text":"Huat leh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/380768401","repostId":"2109727286","repostType":4,"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314169574,"gmtCreate":1612320158598,"gmtModify":1704869692671,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Huat","listText":"Huat","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314169574","repostId":"1183975527","repostType":4,"repost":{"id":"1183975527","pubTimestamp":1612319838,"share":"https://ttm.financial/m/news/1183975527?lang=&edition=fundamental","pubTime":"2021-02-03 10:37","market":"us","language":"en","title":"Investors Are Snapping Up a New Space Stock, Sending Shares Rocketing","url":"https://stock-news.laohu8.com/highlight/detail?id=1183975527","media":"barrons","summary":"Investors are excitedabout space—and they are jumping ona dealthat will bring another fledgling spac","content":"<p>Investors are excitedabout space—and they are jumping ona dealthat will bring another fledgling space company to public markets.</p>\n<p>Tuesday, space-launch company Astra announced it is merging with special purpose acquisition companyHolicity(ticker: HOL). When the merger is complete, the new company with trade under the stock symbol “ASTR.” Until then, space investors can buy Holicity stock. Indeed, they have started to already. Holicity shares were up more than 50% in Tuesday afternoon trading.</p>\n<p>“This transaction takes us a step closer to our mission of improving life on Earth from space by fully funding our plan to provide daily access to low Earth orbit from anywhere on the planet,” said Astra founder and CEO Chris Kemp in the company’snews release.</p>\n<p>The merger gives Astra a pro-forma market capitalization of almost $4.1 billion.</p>\n<p>The number of space stocks and data points is growing like, well, the constellation of satellites circling the globe.Lockheed Martin(LMT), for starters, recently paid about$4.4 billionto acquireAerojet Rocketdyne(ARJD). Space-logistics providerMomentusis merging withStable Road Acquisition(SRAC), giving Momentus a market capitalization of about $3.4 billion based on 151 million shares outstanding when the merger closes.</p>\n<p>Space-tourism pioneerVirgin Galactic(SPCE) has achieved a $12 billion market cap along with a strong following on Wall Street. Six Wall Street analysts rate the shares Buy, while three others rate the sharesHold. The average Buy-rating ratio for stocks in theDow Jones Industrial Averageis about 57%.</p>\n<p>Virgin Orbit is another space-launch services company that recently reached orbit. It is still privately held, not yet finding a SPAC merger partner.</p>\n<p>SpaceXis privately held, as well. Elon Musk’s space firm is the largest of the lot, valued at an estimated $46 billion. SpaceX pioneered the use of reusable rockets, helping to spark the space gold rush. Along with carrying astronautsfor NASAto the International Space Station, the company is launching itsStarlink satellitesto build a global, space-based Wi-Fi business.</p>\n<p>Astra’s rockets don’t appear to be reusable; it is lowering launch costs in other ways. “We’ve invested in machines and infrastructure to produce rockets at scale,” says Kemp ina video tourof the company’s manufacturing facility. Reaching orbit used to take tens of millions of dollars. New companies are lowering the bill to millions of dollars.</p>\n<p>Falling costs are opening outer space for business. For exactly what, however, is still a guess. “Were going to see new applications that no one has ever imagined that will help improve life on earth,” says Kemp. Among the possibilities that people are imagining are new communications technologies like the ones SpaceX is pursuing, detailed earth observation, early-warning systems for defense, and weather and GPS applications.</p>\n<p>Astra appears confident that new applications are coming. The company has ambitions to have daily orbital launches by 2025. Revenue is projected to reach $1.5 billion that year, and Astra projects almost $700 million in free cash flow.</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>Investors Are Snapping Up a New Space Stock, Sending Shares Rocketing</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\">\nInvestors Are Snapping Up a New Space Stock, Sending Shares Rocketing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 10:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/holicity-shares-rocket-higher-on-news-of-the-spacs-merger-with-astra-51612296073?mod=hp_LEADSUPP_3><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors are excitedabout space—and they are jumping ona dealthat will bring another fledgling space company to public markets.\nTuesday, space-launch company Astra announced it is merging with ...</p>\n\n<a href=\"https://www.barrons.com/articles/holicity-shares-rocket-higher-on-news-of-the-spacs-merger-with-astra-51612296073?mod=hp_LEADSUPP_3\">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://www.barrons.com/articles/holicity-shares-rocket-higher-on-news-of-the-spacs-merger-with-astra-51612296073?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183975527","content_text":"Investors are excitedabout space—and they are jumping ona dealthat will bring another fledgling space company to public markets.\nTuesday, space-launch company Astra announced it is merging with special purpose acquisition companyHolicity(ticker: HOL). When the merger is complete, the new company with trade under the stock symbol “ASTR.” Until then, space investors can buy Holicity stock. Indeed, they have started to already. Holicity shares were up more than 50% in Tuesday afternoon trading.\n“This transaction takes us a step closer to our mission of improving life on Earth from space by fully funding our plan to provide daily access to low Earth orbit from anywhere on the planet,” said Astra founder and CEO Chris Kemp in the company’snews release.\nThe merger gives Astra a pro-forma market capitalization of almost $4.1 billion.\nThe number of space stocks and data points is growing like, well, the constellation of satellites circling the globe.Lockheed Martin(LMT), for starters, recently paid about$4.4 billionto acquireAerojet Rocketdyne(ARJD). Space-logistics providerMomentusis merging withStable Road Acquisition(SRAC), giving Momentus a market capitalization of about $3.4 billion based on 151 million shares outstanding when the merger closes.\nSpace-tourism pioneerVirgin Galactic(SPCE) has achieved a $12 billion market cap along with a strong following on Wall Street. Six Wall Street analysts rate the shares Buy, while three others rate the sharesHold. The average Buy-rating ratio for stocks in theDow Jones Industrial Averageis about 57%.\nVirgin Orbit is another space-launch services company that recently reached orbit. It is still privately held, not yet finding a SPAC merger partner.\nSpaceXis privately held, as well. Elon Musk’s space firm is the largest of the lot, valued at an estimated $46 billion. SpaceX pioneered the use of reusable rockets, helping to spark the space gold rush. Along with carrying astronautsfor NASAto the International Space Station, the company is launching itsStarlink satellitesto build a global, space-based Wi-Fi business.\nAstra’s rockets don’t appear to be reusable; it is lowering launch costs in other ways. “We’ve invested in machines and infrastructure to produce rockets at scale,” says Kemp ina video tourof the company’s manufacturing facility. Reaching orbit used to take tens of millions of dollars. New companies are lowering the bill to millions of dollars.\nFalling costs are opening outer space for business. For exactly what, however, is still a guess. “Were going to see new applications that no one has ever imagined that will help improve life on earth,” says Kemp. Among the possibilities that people are imagining are new communications technologies like the ones SpaceX is pursuing, detailed earth observation, early-warning systems for defense, and weather and GPS applications.\nAstra appears confident that new applications are coming. The company has ambitions to have daily orbital launches by 2025. Revenue is projected to reach $1.5 billion that year, and Astra projects almost $700 million in free cash flow.","news_type":1},"isVote":1,"tweetType":1,"viewCount":100,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169821726,"gmtCreate":1623828733565,"gmtModify":1703820702533,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169821726","repostId":"1135791696","repostType":4,"repost":{"id":"1135791696","pubTimestamp":1623813782,"share":"https://ttm.financial/m/news/1135791696?lang=&edition=fundamental","pubTime":"2021-06-16 11:23","market":"us","language":"en","title":"FOMC preview: Inflationary pressures tempt taper talk","url":"https://stock-news.laohu8.com/highlight/detail?id=1135791696","media":"Yahoo Finance","summary":"The Federal Reserve had hoped for a string of strong jobs reports showing a pace of 1 million monthly job gains.Instead, the Fed received larger-than-expected readings on inflation.For a central bank that has reiterated its higher bar for pulling its monetary stimulus, recent data points could test the resolve of policymakers with regard to its quantitative easing program.Since the Fed’s last policy-setting meeting in May, several Fed officials voiced interest in taking the first step toward slo","content":"<p>The Federal Reserve had hoped for a&nbsp;string of strong jobs reports&nbsp;showing a pace of 1 million monthly job gains.</p>\n<p>Instead, the Fed received larger-than-expected readings on inflation.</p>\n<p>For a central bank that has reiterated its higher bar for pulling its monetary stimulus, recent data points could test the resolve of policymakers with regard to its quantitative easing program.</p>\n<p>Since the Fed’s last policy-setting meeting in May, several Fed officials&nbsp;voiced interest in taking the first step toward slowing&nbsp;the central bank’s $120 billion-a-month pace of U.S. Treasury and agency mortgage-backed securities purchases.</p>\n<p>“There is some upside risk to increased inflation,” Philadelphia Fed President Patrick Harker&nbsp;said on June 2.</p>\n<p>The&nbsp;Consumer Price Index in May&nbsp;rose by the fastest year-over-year pace since August 2008. Another measure of inflation, the Producer Price Index,recorded its fastest 12-month growth on record&nbsp;since the Bureau of Labor Statistics began the dataset in November 2010.</p>\n<p>Still, many Fed officials insist that the high data readings are due to&nbsp;temporary factors&nbsp;like supply chain bottlenecks. Shortages in microchips are continuing to put upward pressure on cars. But lumber prices, which skyrocketed in the late spring, are&nbsp;now tumbling.</p>\n<p>“I continue to believe as my baseline case that this will prove to be largely transitory,” Fed Vice Chairman Richard Clarida&nbsp;told Yahoo Finance&nbsp;on May 25 (before the May CPI and PPI prints).</p>\n<p>Fed watchers expect that “transitory” will remain the prevailing view among the Federal Open Market Committee, meaning that those eager to talk about tapering may be in the minority this week.</p>\n<p>A BofA survey done last week noted that 63% of global fund managers do not expect the Fed to signal tapering until August or September — most likely at the Fed’s late-August meeting in Jackson Hole, Wyoming.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f12fb608045aa97206f53cbac6b7c64c\" tg-width=\"960\" tg-height=\"625\"><span>A BofA survey conducted between June 4-10, 2021 notes that most fund managers do not expect the Fed to signal a taper in this week's meeting. Source: BofA Fund Manager Survey, DataStream</span></p>\n<p>“This is not a Fed that is rushing to the exits,” BofA Global Research analysts wrote on June 14. “That said, we expect a few nuanced changes that would sound less dovish than in the April meeting.”</p>\n<p>The Fed is continuing to keep a focus on the labor market, where&nbsp;May jobs data&nbsp;showed the economy still 7.6 million jobs short of pre-pandemic levels.</p>\n<p><b>When is a rate hike coming?</b></p>\n<p>Commentary on the Fed’s asset purchases could come from the FOMC policy statement or Fed Chairman Jerome Powell’s press conference at 2:30 p.m. ET on Wednesday.</p>\n<p>The FOMC’s next round of economic projections, due alongside the policy statement, could also offer some clues.</p>\n<p>Those projections will include an update to the so-called “dot plots,” which map out each FOMC member’s forecasts for where interest rates may head in the future. The Fed’s last round of projections in March had the median member of the committee projecting no rate hike through the end of 2023.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bbea5dc5ee450e2a475e989236c55734\" tg-width=\"960\" tg-height=\"975\"><span>The March 2021 Summary of Economic Projections map out each FOMC member's expectations for where interest rates may go in the coming years. The so-called \"dot plots\" show the median member expecting no rate hike through the end of 2023. Source: Federal Reserve</span></p>\n<p>With more Fed officials having expressed interest in kicking off taper talks, chatter is building over whether or not the dot plot will show the median FOMC member projecting a rate hike by the end of 2023.</p>\n<p>“In light of the transitory nature of the recent spike in prices, our best guess is no, but it is a close call,” Goldman Sachs’s economics team wrote on June 13.</p>\n<p>The Goldman note pointed out that the dots may be “guided by some steering” from Powell, who would face some tricky questions on how the “transitory” view on inflation squares with the expectation for an earlier rate hike.</p>\n<p>Still, if only three more FOMC members revise up their expectations for interest rates in 2023, the median dot would reflect one rate hike.</p>\n<p>Here’s what Fed officials have said since the central bank’s last policy-setting meeting in April:</p>\n<p><b>What Fed officials have said about inflation:</b></p>\n<p><b>Fed Chairman Jerome Powell (voter):</b>“We saw in the last expansion that unemployment could go to 50 year lows without troubling inflation and we put that to work.” (Remarks at&nbsp;National Community Reinvestment Coalition, May 3)</p>\n<p><b>Fed Vice Chairman Richard Clarida (voter):</b>“If in the risk case, the upward pressure on inflation were to prove to be more persistent and to put upward pressure on inflation expectations we have the tools and I'm convinced that we would act to counteract and bring inflation down to our long-run goal of 2%.” (Yahoo Finance&nbsp;interview, May 25)</p>\n<p><b>Fed Vice Chairman Randal Quarles (voter):</b>“You’re going to see inflationary pressures. That’s going to happen. It’s not going to be surprising. And one would expect it to be temporary. But we could be wrong.” (Politico&nbsp;interview, June 1)</p>\n<p><b>Fed Governor Lael Brainard (voter):</b>“In assessing the risk that such transitory pricing pressures get embedded in persistently high inflation, it is critical to remember that inflation averaged less than 2% over the past quarter-century, and that statistical measures of trend inflation ran consistently below 2% for decades before the pandemic.” (Remarks at&nbsp;Economic Club of New York, June 1)</p>\n<p><b>Fed Governor Michelle Bowman (voter):</b>“If the supply bottlenecks prove to be more long-lasting than currently expected, I will adjust my views on the inflation outlook accordingly. At this point, the risk that inflation remains persistently above our long-run target of 2% still appears small.” (Remarks at&nbsp;The Colorado Forum, May 5)</p>\n<p><b>Fed Governor Christopher Waller (voter):</b>“Despite the unexpectedly high [April] CPI inflation report yesterday, the factors putting upward pressure on inflation are temporary, and an accommodative monetary policy continues to have an important role to play in supporting the recovery.” (Remarks at the&nbsp;Global Interdependence Center, May 13)</p>\n<p><b>Boston Fed President Eric Rosengren:</b>“One-time, temporary changes in prices should not impact the medium-term trajectory of inflation.” (Remarks at&nbsp;Boston College, May 5)</p>\n<p><b>New York Fed President John Williams:</b>“My personal view is that a big chunk of the increase in the inflation measures that we've seen is really partly this reversal price declines from before, what we often called base effects, plus some special factors like used cars and others where clearly the pandemic has affected demand for certain goods that are in short supply at least in the near term.” (Yahoo Finance&nbsp;interview, June 3)</p>\n<p><b>Philadelphia Fed President Patrick Harker:</b>“With the economy picking up and so much fiscal support and monetary accommodation, there is some upside risk to increased inflation.” (Remarks at&nbsp;Women in Housing and Finance Public Policy Luncheon, June 2)</p>\n<p><b>Cleveland Fed President Loretta Mester:</b>“My expectation is that we'll end the year with inflation above 2%. But then next year, as those supply constraints are eased, inflation numbers will go back down. And then, with the support of monetary policy and fiscal policy we’ll see those inflation reads move back up.” (Yahoo Finance&nbsp;interview, May 11)</p>\n<p><b>Richmond Fed President Thomas Barkin (voter):</b>“Inflation is a multi-year, recurring, persistent phenomenon and as I talk to businesses I’m still not hearing their medium- to long-term expectations on pricing changing, nor are market measures on inflation escalating above our target.” (Remarks at&nbsp;West Virginia Chamber, May 7)</p>\n<p><b>Atlanta Fed President Raphael Bostic (voter):</b>“We’re really in a turbulent time and what I try to tell people is, this a time when I would expect there to be a fair amount of volatility in inflation.” (Remarks at&nbsp;Council on Foreign Relations, May 12)</p>\n<p><b>Chicago Fed President Charles Evans (voter):</b>“It is important to emphasize that the recent increase in inflation does not appear to be the precursor of a persistent movement to undesirably high levels of inflation.” (Remarks at&nbsp;Bank of Japan, May 25)</p>\n<p><b>St. Louis Fed President James Bullard:</b>“We'll see if the demand really flows through to a lasting increase in inflation or if this is just temporary. I think it's mostly temporary but then some of it will flow through to inflation expectations, and then we will get inflation above 2% this year and into 2022.” (Yahoo Finance&nbsp;interview, May 24)</p>\n<p><b>Minneapolis Fed President Neel Kashkari:</b>“I'm very skeptical that we're going to have sustained high inflation if we still have five or 10 million Americans out of work. We think the labor market is really what's going to drive inflation over the long term.” (Face the Nation&nbsp;interview&nbsp;on CBS, May 9)</p>\n<p><b>Kansas City Fed President Esther George:</b>“What the current pace of inflation means for the inflation outlook for the medium term is less than clear. Many factors that have boosted current inflation seem likely to fade over time. All the same, I am not inclined to dismiss today’s pricing signals or to be overly reliant on historical relationships and dynamics in judging the outlook for inflation.” (Remarks at&nbsp;Oklahoma Bankers Association, May 26)</p>\n<p><b>Dallas Fed President Robert Kaplan:</b>“It’s uncertain as to how long these supply-demand imbalances are going to persist. Our base case is that next year you’ll see some moderation [in inflation], but I think there’s a lot of uncertainty about this.” (Remarks at&nbsp;Dallas Fed, May 17)</p>\n<p><b>San Francisco Fed President Mary Daly (voter):</b>\"[Supply constraints] will cause inflation to pop in the next several months, probably through the end of the year, even, achieving levels above 2%. But that's going to be transitory in our judgment — in my judgment. And it'll come back down to the underlying rate of inflation, which I think is about 1.8% going forward.” (Yahoo Finance&nbsp;interview, May 10)</p>","source":"yahoofinance_sg","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>FOMC preview: Inflationary pressures tempt taper talk</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\">\nFOMC preview: Inflationary pressures tempt taper talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/fed-fomc-monetary-policy-preview-june-2021-191602338.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Federal Reserve had hoped for a string of strong jobs reports showing a pace of 1 million monthly job gains.\nInstead, the Fed received larger-than-expected readings on inflation.\nFor a central ...</p>\n\n<a href=\"https://finance.yahoo.com/news/fed-fomc-monetary-policy-preview-june-2021-191602338.html\">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://finance.yahoo.com/news/fed-fomc-monetary-policy-preview-june-2021-191602338.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135791696","content_text":"The Federal Reserve had hoped for a string of strong jobs reports showing a pace of 1 million monthly job gains.\nInstead, the Fed received larger-than-expected readings on inflation.\nFor a central bank that has reiterated its higher bar for pulling its monetary stimulus, recent data points could test the resolve of policymakers with regard to its quantitative easing program.\nSince the Fed’s last policy-setting meeting in May, several Fed officials voiced interest in taking the first step toward slowing the central bank’s $120 billion-a-month pace of U.S. Treasury and agency mortgage-backed securities purchases.\n“There is some upside risk to increased inflation,” Philadelphia Fed President Patrick Harker said on June 2.\nThe Consumer Price Index in May rose by the fastest year-over-year pace since August 2008. Another measure of inflation, the Producer Price Index,recorded its fastest 12-month growth on record since the Bureau of Labor Statistics began the dataset in November 2010.\nStill, many Fed officials insist that the high data readings are due to temporary factors like supply chain bottlenecks. Shortages in microchips are continuing to put upward pressure on cars. But lumber prices, which skyrocketed in the late spring, are now tumbling.\n“I continue to believe as my baseline case that this will prove to be largely transitory,” Fed Vice Chairman Richard Clarida told Yahoo Finance on May 25 (before the May CPI and PPI prints).\nFed watchers expect that “transitory” will remain the prevailing view among the Federal Open Market Committee, meaning that those eager to talk about tapering may be in the minority this week.\nA BofA survey done last week noted that 63% of global fund managers do not expect the Fed to signal tapering until August or September — most likely at the Fed’s late-August meeting in Jackson Hole, Wyoming.\nA BofA survey conducted between June 4-10, 2021 notes that most fund managers do not expect the Fed to signal a taper in this week's meeting. Source: BofA Fund Manager Survey, DataStream\n“This is not a Fed that is rushing to the exits,” BofA Global Research analysts wrote on June 14. “That said, we expect a few nuanced changes that would sound less dovish than in the April meeting.”\nThe Fed is continuing to keep a focus on the labor market, where May jobs data showed the economy still 7.6 million jobs short of pre-pandemic levels.\nWhen is a rate hike coming?\nCommentary on the Fed’s asset purchases could come from the FOMC policy statement or Fed Chairman Jerome Powell’s press conference at 2:30 p.m. ET on Wednesday.\nThe FOMC’s next round of economic projections, due alongside the policy statement, could also offer some clues.\nThose projections will include an update to the so-called “dot plots,” which map out each FOMC member’s forecasts for where interest rates may head in the future. The Fed’s last round of projections in March had the median member of the committee projecting no rate hike through the end of 2023.\nThe March 2021 Summary of Economic Projections map out each FOMC member's expectations for where interest rates may go in the coming years. The so-called \"dot plots\" show the median member expecting no rate hike through the end of 2023. Source: Federal Reserve\nWith more Fed officials having expressed interest in kicking off taper talks, chatter is building over whether or not the dot plot will show the median FOMC member projecting a rate hike by the end of 2023.\n“In light of the transitory nature of the recent spike in prices, our best guess is no, but it is a close call,” Goldman Sachs’s economics team wrote on June 13.\nThe Goldman note pointed out that the dots may be “guided by some steering” from Powell, who would face some tricky questions on how the “transitory” view on inflation squares with the expectation for an earlier rate hike.\nStill, if only three more FOMC members revise up their expectations for interest rates in 2023, the median dot would reflect one rate hike.\nHere’s what Fed officials have said since the central bank’s last policy-setting meeting in April:\nWhat Fed officials have said about inflation:\nFed Chairman Jerome Powell (voter):“We saw in the last expansion that unemployment could go to 50 year lows without troubling inflation and we put that to work.” (Remarks at National Community Reinvestment Coalition, May 3)\nFed Vice Chairman Richard Clarida (voter):“If in the risk case, the upward pressure on inflation were to prove to be more persistent and to put upward pressure on inflation expectations we have the tools and I'm convinced that we would act to counteract and bring inflation down to our long-run goal of 2%.” (Yahoo Finance interview, May 25)\nFed Vice Chairman Randal Quarles (voter):“You’re going to see inflationary pressures. That’s going to happen. It’s not going to be surprising. And one would expect it to be temporary. But we could be wrong.” (Politico interview, June 1)\nFed Governor Lael Brainard (voter):“In assessing the risk that such transitory pricing pressures get embedded in persistently high inflation, it is critical to remember that inflation averaged less than 2% over the past quarter-century, and that statistical measures of trend inflation ran consistently below 2% for decades before the pandemic.” (Remarks at Economic Club of New York, June 1)\nFed Governor Michelle Bowman (voter):“If the supply bottlenecks prove to be more long-lasting than currently expected, I will adjust my views on the inflation outlook accordingly. At this point, the risk that inflation remains persistently above our long-run target of 2% still appears small.” (Remarks at The Colorado Forum, May 5)\nFed Governor Christopher Waller (voter):“Despite the unexpectedly high [April] CPI inflation report yesterday, the factors putting upward pressure on inflation are temporary, and an accommodative monetary policy continues to have an important role to play in supporting the recovery.” (Remarks at the Global Interdependence Center, May 13)\nBoston Fed President Eric Rosengren:“One-time, temporary changes in prices should not impact the medium-term trajectory of inflation.” (Remarks at Boston College, May 5)\nNew York Fed President John Williams:“My personal view is that a big chunk of the increase in the inflation measures that we've seen is really partly this reversal price declines from before, what we often called base effects, plus some special factors like used cars and others where clearly the pandemic has affected demand for certain goods that are in short supply at least in the near term.” (Yahoo Finance interview, June 3)\nPhiladelphia Fed President Patrick Harker:“With the economy picking up and so much fiscal support and monetary accommodation, there is some upside risk to increased inflation.” (Remarks at Women in Housing and Finance Public Policy Luncheon, June 2)\nCleveland Fed President Loretta Mester:“My expectation is that we'll end the year with inflation above 2%. But then next year, as those supply constraints are eased, inflation numbers will go back down. And then, with the support of monetary policy and fiscal policy we’ll see those inflation reads move back up.” (Yahoo Finance interview, May 11)\nRichmond Fed President Thomas Barkin (voter):“Inflation is a multi-year, recurring, persistent phenomenon and as I talk to businesses I’m still not hearing their medium- to long-term expectations on pricing changing, nor are market measures on inflation escalating above our target.” (Remarks at West Virginia Chamber, May 7)\nAtlanta Fed President Raphael Bostic (voter):“We’re really in a turbulent time and what I try to tell people is, this a time when I would expect there to be a fair amount of volatility in inflation.” (Remarks at Council on Foreign Relations, May 12)\nChicago Fed President Charles Evans (voter):“It is important to emphasize that the recent increase in inflation does not appear to be the precursor of a persistent movement to undesirably high levels of inflation.” (Remarks at Bank of Japan, May 25)\nSt. Louis Fed President James Bullard:“We'll see if the demand really flows through to a lasting increase in inflation or if this is just temporary. I think it's mostly temporary but then some of it will flow through to inflation expectations, and then we will get inflation above 2% this year and into 2022.” (Yahoo Finance interview, May 24)\nMinneapolis Fed President Neel Kashkari:“I'm very skeptical that we're going to have sustained high inflation if we still have five or 10 million Americans out of work. We think the labor market is really what's going to drive inflation over the long term.” (Face the Nation interview on CBS, May 9)\nKansas City Fed President Esther George:“What the current pace of inflation means for the inflation outlook for the medium term is less than clear. Many factors that have boosted current inflation seem likely to fade over time. All the same, I am not inclined to dismiss today’s pricing signals or to be overly reliant on historical relationships and dynamics in judging the outlook for inflation.” (Remarks at Oklahoma Bankers Association, May 26)\nDallas Fed President Robert Kaplan:“It’s uncertain as to how long these supply-demand imbalances are going to persist. Our base case is that next year you’ll see some moderation [in inflation], but I think there’s a lot of uncertainty about this.” (Remarks at Dallas Fed, May 17)\nSan Francisco Fed President Mary Daly (voter):\"[Supply constraints] will cause inflation to pop in the next several months, probably through the end of the year, even, achieving levels above 2%. But that's going to be transitory in our judgment — in my judgment. And it'll come back down to the underlying rate of inflation, which I think is about 1.8% going forward.” (Yahoo Finance interview, May 10)","news_type":1},"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169823310,"gmtCreate":1623828648730,"gmtModify":1703820699784,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Damn&nbsp;","listText":"Damn&nbsp;","text":"Damn","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169823310","repostId":"2143375742","repostType":4,"repost":{"id":"2143375742","pubTimestamp":1623825343,"share":"https://ttm.financial/m/news/2143375742?lang=&edition=fundamental","pubTime":"2021-06-16 14:35","market":"us","language":"en","title":"Here's How Low Analysts Think Aurora Cannabis Can Go","url":"https://stock-news.laohu8.com/highlight/detail?id=2143375742","media":"Motley Fool","summary":"Should you bet against Wall Street?","content":"<p>Even as the overall cannabis industry has been getting bigger and earning more enthusiasm from investors, Canadian marijuana company <b>Aurora Cannabis</b> (NASDAQ:ACB) stock has done poorly. Its share price has fallen by 26% over the past year -- undoubtedly frustrating its shareholders -- while the sector benchmark <b>Horizons Marijuana Life Sciences ETF&nbsp;</b>is up by more than 46% over the same period.</p>\n<p>And Aurora's shares may not be done declining. Analysts on Wall Street are expecting the pot stock to continue to fall after another uninspiring quarter.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8d83ca4085d1fbba86168a4163090ea2\" tg-width=\"700\" tg-height=\"462\"><span>Image source: Getty Images.</span></p>\n<h2>Analysts see more than 30% downside</h2>\n<p>Since May, when Aurora released its earnings report for the first three months of 2021 (its fiscal third quarter), many analysts have been downgrading the stock and cutting their price targets. Aurora reported a year-over-year sales decline of 25% to just 55 million Canadian dollars for fiscal Q3, so it has been difficult to find much reason for bullishness. And while the company is focused on improving its bottom line, it booked an an adjusted EBITDA loss of CA$24 million -- even steeper than the loss of CA$16.8 million it took in fiscal Q2 2021.</p>\n<p>Here are some of the price targets the analysts covering Aurora have set:</p>\n<ul>\n <li>CIBC: CA$9</li>\n <li>BMO Capital Markets: CA$8</li>\n <li>Canaccord Genuity: CA$7</li>\n <li>Desjardin: CA$8</li>\n <li>Cantor Fitzgerald: CA$9</li>\n</ul>\n<p>Last week, the stock closed at $9.82 on the NASDAQ and CA$11.94 on the Toronto Stock Exchange. The five price targets above average out to CA$8.20, suggesting that Aurora's stock could drop by another 31% over the next year. As bearish a forecast as that may be, it still wouldn't put the share price anywhere near the lows it hit in October 2020 when it fell below $4 on the NASDAQ.</p>\n<h2>What will make or break the stock this year?</h2>\n<p><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> factors will determine where Aurora Cannabis goes in 2021 -- its top and bottom lines. The challenges the company has faced in moving the needle to bolster its profits and grow sales have dragged the stock down. Better numbers would help the stock gain some traction, and also lessen the need for management to continually issue new shares to raise cash.</p>\n<p>In the past 12 months, Aurora Cannabis burned through CA$280 million for its operating activities, and raised CA$714 million through stock offerings. Unless the company can stop those trends, it's likely that its share price will descend to the lows that many analysts are projecting.</p>\n<h2>Is Aurora Cannabis a good contrarian buy?</h2>\n<p>Aurora has been a chronic underperformer, and as tempting as it might be to roll the dice on the stock and bet that the company will turn things around, that would be a dangerous tactic. Many cannabis companies have been putting up adjusted EBITDA profits of late, including <b>Sundial Growers</b> and <b>HEXO</b>.&nbsp;Aurora isn't generating the impressive growth that multistate operators in the U.S. are posting, and now even companies in Canada are doing better and achieving stronger bottom lines. Until and unless the business improves, there's little reason to expect the stock will rally.</p>\n<p>However, it's easy to see why risk-takers might be willing to gamble on the stock. Ahead of its fiscal second-quarter report (for the period that ended Dec. 31), traders bid the stock upward. When Aurora delivered those numbers on Feb. 11, they weren't abysmal, and the company's adjusted EBITDA was moving in the right direction. As a result, the stock spiked even higher to a peak of nearly $19. All of that bullishness faded within days, but it's a reminder of just how quickly some positivity can send Aurora's share price soaring.</p>\n<p>Unless you're the gambling type, I would stay away from Aurora's stock -- it just isn't worth the risk. While the company could surprise investors with positive results next quarter, tougher times are still likely ahead for it and other Canadian cannabis producers.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's How Low Analysts Think Aurora Cannabis Can Go</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere's How Low Analysts Think Aurora Cannabis Can Go\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 14:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/15/heres-how-low-analysts-think-aurora-cannabis-can-g/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Even as the overall cannabis industry has been getting bigger and earning more enthusiasm from investors, Canadian marijuana company Aurora Cannabis (NASDAQ:ACB) stock has done poorly. Its share price...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/15/heres-how-low-analysts-think-aurora-cannabis-can-g/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ACB":"奥罗拉大麻公司"},"source_url":"https://www.fool.com/investing/2021/06/15/heres-how-low-analysts-think-aurora-cannabis-can-g/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143375742","content_text":"Even as the overall cannabis industry has been getting bigger and earning more enthusiasm from investors, Canadian marijuana company Aurora Cannabis (NASDAQ:ACB) stock has done poorly. Its share price has fallen by 26% over the past year -- undoubtedly frustrating its shareholders -- while the sector benchmark Horizons Marijuana Life Sciences ETF is up by more than 46% over the same period.\nAnd Aurora's shares may not be done declining. Analysts on Wall Street are expecting the pot stock to continue to fall after another uninspiring quarter.\nImage source: Getty Images.\nAnalysts see more than 30% downside\nSince May, when Aurora released its earnings report for the first three months of 2021 (its fiscal third quarter), many analysts have been downgrading the stock and cutting their price targets. Aurora reported a year-over-year sales decline of 25% to just 55 million Canadian dollars for fiscal Q3, so it has been difficult to find much reason for bullishness. And while the company is focused on improving its bottom line, it booked an an adjusted EBITDA loss of CA$24 million -- even steeper than the loss of CA$16.8 million it took in fiscal Q2 2021.\nHere are some of the price targets the analysts covering Aurora have set:\n\nCIBC: CA$9\nBMO Capital Markets: CA$8\nCanaccord Genuity: CA$7\nDesjardin: CA$8\nCantor Fitzgerald: CA$9\n\nLast week, the stock closed at $9.82 on the NASDAQ and CA$11.94 on the Toronto Stock Exchange. The five price targets above average out to CA$8.20, suggesting that Aurora's stock could drop by another 31% over the next year. As bearish a forecast as that may be, it still wouldn't put the share price anywhere near the lows it hit in October 2020 when it fell below $4 on the NASDAQ.\nWhat will make or break the stock this year?\nTwo factors will determine where Aurora Cannabis goes in 2021 -- its top and bottom lines. The challenges the company has faced in moving the needle to bolster its profits and grow sales have dragged the stock down. Better numbers would help the stock gain some traction, and also lessen the need for management to continually issue new shares to raise cash.\nIn the past 12 months, Aurora Cannabis burned through CA$280 million for its operating activities, and raised CA$714 million through stock offerings. Unless the company can stop those trends, it's likely that its share price will descend to the lows that many analysts are projecting.\nIs Aurora Cannabis a good contrarian buy?\nAurora has been a chronic underperformer, and as tempting as it might be to roll the dice on the stock and bet that the company will turn things around, that would be a dangerous tactic. Many cannabis companies have been putting up adjusted EBITDA profits of late, including Sundial Growers and HEXO. Aurora isn't generating the impressive growth that multistate operators in the U.S. are posting, and now even companies in Canada are doing better and achieving stronger bottom lines. Until and unless the business improves, there's little reason to expect the stock will rally.\nHowever, it's easy to see why risk-takers might be willing to gamble on the stock. Ahead of its fiscal second-quarter report (for the period that ended Dec. 31), traders bid the stock upward. When Aurora delivered those numbers on Feb. 11, they weren't abysmal, and the company's adjusted EBITDA was moving in the right direction. As a result, the stock spiked even higher to a peak of nearly $19. All of that bullishness faded within days, but it's a reminder of just how quickly some positivity can send Aurora's share price soaring.\nUnless you're the gambling type, I would stay away from Aurora's stock -- it just isn't worth the risk. While the company could surprise investors with positive results next quarter, tougher times are still likely ahead for it and other Canadian cannabis producers.","news_type":1},"isVote":1,"tweetType":1,"viewCount":365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169829673,"gmtCreate":1623828613892,"gmtModify":1703820698815,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Of cos a buy&nbsp;","listText":"Of cos a buy&nbsp;","text":"Of cos a buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169829673","repostId":"1179963706","repostType":4,"repost":{"id":"1179963706","pubTimestamp":1623828183,"share":"https://ttm.financial/m/news/1179963706?lang=&edition=fundamental","pubTime":"2021-06-16 15:23","market":"us","language":"en","title":"Is Virgin Galactic Stock a Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1179963706","media":"Motley Fool","summary":"These shares aren't for the faint of heart.","content":"<p>The space industry is a high-potential, high-risk investment opportunity for investors willing to take the leap into some volatility.&nbsp;In the last year alone, the stock of&nbsp;<b>Virgin Galactic Holdings</b>&nbsp;(NYSE:SPCE)&nbsp;has jumped 300%,then fallen 75%, and more than&nbsp;doubled from recent lows. Investors who have held on for the ride have done well, but it hasn't been easy.</p>\n<p>More than even the highest flying&nbsp;growth stocks&nbsp;on the market, this is a boom-and-bust kind of investment right now. If Virgin Galactic succeeds, it could reshape the way we think about space. But if it fails, the company could end in disaster. Right now, I think it's worth the risk.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2bd0b3467fea65d95ded6ecb659b938\" tg-width=\"2000\" tg-height=\"1334\"><span>IMAGE SOURCE: VIRGIN GALACTIC.</span></p>\n<p><b>What fundamentals?</b></p>\n<p>Before we get too far into Virgin Galactic's opportunities, it's important to point out that this is a pre-revenue company. It is burning cash in anticipation of generating revenue from research and from customer tickets for a quick trip into space, but it hasn't launched commercially yet.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51fd6129b14f307e5702187274edae41\" tg-width=\"720\" tg-height=\"435\"><span>SPCE REVENUE (TTM) DATA BY YCHARTS. TTM = TRAILING 12 MONTHS.</span></p>\n<p>Being a pre-revenue company isn't bad, but it shows just how early it is in its development.</p>\n<p><b>Building a new market in space</b></p>\n<p>The bullish case for Virgin Galactic is that it'll redefine how we think about space. For as little as $250,000, anyone can travel into space once commercial flights begin. That sounds like a lot of money, but think about how unattainable space seemed only a decade or two ago. Now, it just takes a big checkbook to get there. The flight is only a few minutes long, but it's a once-in-a-lifetime experience that has already attracted over 600 reservations.</p>\n<p>Management thinks that when operations are fully ramped up, a spaceport like the company has built in New Mexico will be able to generate $1 billion per year in revenue. Build a few spaceports around the world, and suddenly valuing the company at $8.7 billion (its market capitalization today) doesn't seem so crazy.</p>\n<p><b>High-speed travel is next</b></p>\n<p>In development is a Mach 3 aircraft that could take high-speed travel to a new level. While the current spacecraft being tested is meant for tourism, a Mach 3 aircraft could make global travel more efficient, reducing the flight&nbsp;from Los Angeles to Tokyo from 12 hours to three to four hours. And with a capacity of 9 to 19 seats, it would seem more like a flight on a private jet than the failed Concorde, which had a capacity of 92 to 128 passengers.</p>\n<p>We don't know if space tourism or mach-speed travel will succeed but imagine if they do. If thousands of people fly into space each year and it's commonplace to see videos of celebrities or wealthy people in a weightless atmosphere, it has the potential to shape how we view space tourism. At the same time, Virgin Galactic's design of reusable rockets could allow it to reduce costs to make space tourism possible to those willing to spend around $100,000 on a ticket. And that could truly change how we view space. That's the kind of disruption that would drive big gains for investors.</p>\n<p><b>Virgin Galactic is a buy, with risks</b></p>\n<p>The investment thesis for Virgin Galactic is pretty simple: Virgin Galactic could disrupt the way we think about visiting space and Mach-speed travel. Management thinks it can complete 400 space flights per year, generating $1 billion in revenue per spaceport, with the potential to build dozens of spaceports around the world. Long-term, the spaceports could also house mach-speed aircraft. If Virgin Galactic succeeds, the company could open up multibillion-dollar markets that don't exist today.</p>\n<p>As big as the opportunity is, the risks are hefty as well. A failure in testing or product development could sink the company. Today, I think the reward outweighs the risk, and a decade or two from now we'll all know of someone who has visited space. That potential shift in how we think about the universe around us makes this a company I'm excited to own, and follow, into the future.</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 Virgin Galactic Stock a Buy?</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 Virgin Galactic Stock a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 15:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/15/is-virgin-galactic-stock-a-buy/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The space industry is a high-potential, high-risk investment opportunity for investors willing to take the leap into some volatility. In the last year alone, the stock of Virgin Galactic Holdings (...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/15/is-virgin-galactic-stock-a-buy/\">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://www.fool.com/investing/2021/06/15/is-virgin-galactic-stock-a-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179963706","content_text":"The space industry is a high-potential, high-risk investment opportunity for investors willing to take the leap into some volatility. In the last year alone, the stock of Virgin Galactic Holdings (NYSE:SPCE) has jumped 300%,then fallen 75%, and more than doubled from recent lows. Investors who have held on for the ride have done well, but it hasn't been easy.\nMore than even the highest flying growth stocks on the market, this is a boom-and-bust kind of investment right now. If Virgin Galactic succeeds, it could reshape the way we think about space. But if it fails, the company could end in disaster. Right now, I think it's worth the risk.\nIMAGE SOURCE: VIRGIN GALACTIC.\nWhat fundamentals?\nBefore we get too far into Virgin Galactic's opportunities, it's important to point out that this is a pre-revenue company. It is burning cash in anticipation of generating revenue from research and from customer tickets for a quick trip into space, but it hasn't launched commercially yet.\nSPCE REVENUE (TTM) DATA BY YCHARTS. TTM = TRAILING 12 MONTHS.\nBeing a pre-revenue company isn't bad, but it shows just how early it is in its development.\nBuilding a new market in space\nThe bullish case for Virgin Galactic is that it'll redefine how we think about space. For as little as $250,000, anyone can travel into space once commercial flights begin. That sounds like a lot of money, but think about how unattainable space seemed only a decade or two ago. Now, it just takes a big checkbook to get there. The flight is only a few minutes long, but it's a once-in-a-lifetime experience that has already attracted over 600 reservations.\nManagement thinks that when operations are fully ramped up, a spaceport like the company has built in New Mexico will be able to generate $1 billion per year in revenue. Build a few spaceports around the world, and suddenly valuing the company at $8.7 billion (its market capitalization today) doesn't seem so crazy.\nHigh-speed travel is next\nIn development is a Mach 3 aircraft that could take high-speed travel to a new level. While the current spacecraft being tested is meant for tourism, a Mach 3 aircraft could make global travel more efficient, reducing the flight from Los Angeles to Tokyo from 12 hours to three to four hours. And with a capacity of 9 to 19 seats, it would seem more like a flight on a private jet than the failed Concorde, which had a capacity of 92 to 128 passengers.\nWe don't know if space tourism or mach-speed travel will succeed but imagine if they do. If thousands of people fly into space each year and it's commonplace to see videos of celebrities or wealthy people in a weightless atmosphere, it has the potential to shape how we view space tourism. At the same time, Virgin Galactic's design of reusable rockets could allow it to reduce costs to make space tourism possible to those willing to spend around $100,000 on a ticket. And that could truly change how we view space. That's the kind of disruption that would drive big gains for investors.\nVirgin Galactic is a buy, with risks\nThe investment thesis for Virgin Galactic is pretty simple: Virgin Galactic could disrupt the way we think about visiting space and Mach-speed travel. Management thinks it can complete 400 space flights per year, generating $1 billion in revenue per spaceport, with the potential to build dozens of spaceports around the world. Long-term, the spaceports could also house mach-speed aircraft. If Virgin Galactic succeeds, the company could open up multibillion-dollar markets that don't exist today.\nAs big as the opportunity is, the risks are hefty as well. A failure in testing or product development could sink the company. Today, I think the reward outweighs the risk, and a decade or two from now we'll all know of someone who has visited space. That potential shift in how we think about the universe around us makes this a company I'm excited to own, and follow, into the future.","news_type":1},"isVote":1,"tweetType":1,"viewCount":381,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187295716,"gmtCreate":1623754639035,"gmtModify":1704210605284,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Not my Tesla&nbsp;","listText":"Not my Tesla&nbsp;","text":"Not my Tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187295716","repostId":"1106218942","repostType":4,"repost":{"id":"1106218942","pubTimestamp":1623734282,"share":"https://ttm.financial/m/news/1106218942?lang=&edition=fundamental","pubTime":"2021-06-15 13:18","market":"us","language":"en","title":"Tesla Takes A Step Back","url":"https://stock-news.laohu8.com/highlight/detail?id=1106218942","media":"seekingalpha","summary":"Model S Plaid event falls a bit flat.Last week was supposed to be a good time for fans of Tesla , with the company finally holding its meaningfully delayed Model S Plaid reveal event. Fans and investors were not only looking to see the latest performance details, but were hoping for other big surprises from the automaker. Unfortunately, the company's event was pretty much a dud, and other news out during the week raised even more questions about the company's near term future.I'm more curious th","content":"<p><b>Summary</b></p>\n<ul>\n <li>Company loses its second most important executive.</li>\n <li>Model S Plaid event falls a bit flat.</li>\n <li>Stock can't make meaningful move above key technical level.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/707bb99dcaa93d75f576a78ef1ecd11c\" tg-width=\"768\" tg-height=\"512\"><span>jetcityimage/iStock Editorial via Getty Images</span></p>\n<p>Last week was supposed to be a good time for fans of Tesla (TSLA), with the company finally holding its meaningfully delayed Model S Plaid reveal event. Fans and investors were not only looking to see the latest performance details, but were hoping for other big surprises from the automaker. Unfortunately, the company's event was pretty much a dud, and other news out during the week raised even more questions about the company's near term future.</p>\n<p>Perhaps the biggest surprise to many&nbsp;was the departure&nbsp;of Jerome Guillen, the head of the heavy trucking division. Back in March, Guillen got that new title after formerly being the head of automotive. I had said then that this was a demotion, as he was leaving the bulk of Tesla's business&nbsp;for a niche segment&nbsp;with no revenues yet, but Tesla fans told me I was wrong. Well, now the company's second most important executive is definitely gone, leading many to question the future of the Tesla Semi.</p>\n<p>I'm more curious though if Guillen's departure raises a major question about Tesla's battery ambitions. The Semi was supposed to be here in 2019 with the new Roadster a year later, and neither are here yet. Both were dependent on Tesla's next generation battery, and just a week ago&nbsp;the company cancelled&nbsp;its Model S Plaid Plus. Elon Musk said that Plaid was just too good, but perhaps Tesla couldn't get the batteries needed to meet promised range specs? There have been questions for years about the numbers Tesla has given for the Semi, Roadster, etc. I should also note that while not totally related, the new Long Range Model S has seen its estimated range&nbsp;on the website configurator&nbsp;reduced from 412 to 405 miles since its soft launch a few months ago.</p>\n<p>The second item to think about is what's happening with Tesla sales in China. As the graphic below shows, the first two months of Q2 2020 saw the lowest first two months sales in that country in the last three quarters. Yes, Tesla is exporting a large number of vehicles to other markets, more than 11,500 Model 3 units in May. However, the original plan for the Shanghai factory was&nbsp;to serve China only&nbsp;with affordable 3/Y units. More expensive variants were to be produced in the US, and Tesla can't even sell out China production in its home market. Delivery estimates in that country remain at 1-3 weeks for both the 3 and Y, and new reports suggest&nbsp;loan rates have been slashed&nbsp;if you take delivery this month, implying that demand just isn't where management expected it to be.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c75e330376fd6f9a20e5e006f359508f\" tg-width=\"516\" tg-height=\"181\"><span>(Source: Carsalesbase,and Moneyball Twitter)</span></p>\n<p>Later in the week, Tesla finally unveiled the new Model S Plaid after months of delays, at an event&nbsp;that was more hype&nbsp;than anything else. A few things stated by the CEO didn't match up with the graphics behind him during the presentation, and it was&nbsp;reported earlier in the day&nbsp;that the vehicle can't even do the promised 200mph at this point. If you're in the market for a $130,000 vehicle that you only want to take to the track, however, then maybe this is for you.</p>\n<p>The Model S event was not a great show for electric vehicles overall in my opinion. Elon Musk boasted that the Plaid can get 187 miles of range with 15 minutes of charging, but a decent family gas-powered sedan can get 700 miles of highway range in a 5 minute gas stop. This is not going to be a high volume vehicle that will add anything meaningful to Tesla's financials, especially as the high end EV segment continues to become more crowded. Remember, this event was only after numerous delays, and Tesla's Model S page linked above still shows June availability for this new vehicle. Elon Musk highlighting some new features that will eventually help if Tesla solves its full self-driving ambitions, but that timeline remains uncertain.</p>\n<p>One other item that some investors continue to fret about is Tesla's Bitcoin position. With the cryptocurrency falling tremendously from its all-time high, the company could have left more than a billion dollars on the table by not selling it all already. While that doesn't represent a large portion of the company's cash, it would have made a nice profit, and now the position is getting closer to facing impairment charges. In the end, the concern is that the Bitcoin position takes some focus away from management and has been a major distraction for investors.</p>\n<p>Last week, Tesla shares finished up a little more than $10. A gain of almost 2% may not have been satisfying for the bulls given the company's big event. However, I'm more disappointed in the stock because the 10-Year US Treasury bond yield dropped by 10 basis points last week, which should have really helped Tesla shares and other big growth names to rally. Also, the stock has still not been able to make a major move away from its 200-day moving average (purple line) as seen in the chart below. The gap between that long term trend line and its shorter term technical counterpart is now less than $44 after peaking at nearly $320 earlier this year. This means that the dreaded death cross is more and more likely to happen in the coming weeks.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c236196cd82611a795260278e4a2d92\" tg-width=\"640\" tg-height=\"270\"><span>(Source: Yahoo! Finance)</span></p>\n<p>In the end, last week probably wasn't the one that Tesla fans and investors were really hoping for. The company lost its second most important executive, which puts into question progress on the Semi and other new battery related programs. Additionally, China sales haven't progressed much on their own, definitely not to the point where that factory only supplies to that country. Late in the week, the Model S event was not very exciting, and did little to energize the stock. At the same time, investors still fret over the Bitcoin position, while shares remain unable to make a solid move above their long term moving average. It probably will be a few weeks until we get a new catalyst to watch, with the Q2 production and delivery report scheduled for early July.</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>Tesla Takes A Step Back</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\">\nTesla Takes A Step Back\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 13:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4434829-tesla-takes-a-step-back><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nCompany loses its second most important executive.\nModel S Plaid event falls a bit flat.\nStock can't make meaningful move above key technical level.\n\njetcityimage/iStock Editorial via Getty ...</p>\n\n<a href=\"https://seekingalpha.com/article/4434829-tesla-takes-a-step-back\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4434829-tesla-takes-a-step-back","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106218942","content_text":"Summary\n\nCompany loses its second most important executive.\nModel S Plaid event falls a bit flat.\nStock can't make meaningful move above key technical level.\n\njetcityimage/iStock Editorial via Getty Images\nLast week was supposed to be a good time for fans of Tesla (TSLA), with the company finally holding its meaningfully delayed Model S Plaid reveal event. Fans and investors were not only looking to see the latest performance details, but were hoping for other big surprises from the automaker. Unfortunately, the company's event was pretty much a dud, and other news out during the week raised even more questions about the company's near term future.\nPerhaps the biggest surprise to many was the departure of Jerome Guillen, the head of the heavy trucking division. Back in March, Guillen got that new title after formerly being the head of automotive. I had said then that this was a demotion, as he was leaving the bulk of Tesla's business for a niche segment with no revenues yet, but Tesla fans told me I was wrong. Well, now the company's second most important executive is definitely gone, leading many to question the future of the Tesla Semi.\nI'm more curious though if Guillen's departure raises a major question about Tesla's battery ambitions. The Semi was supposed to be here in 2019 with the new Roadster a year later, and neither are here yet. Both were dependent on Tesla's next generation battery, and just a week ago the company cancelled its Model S Plaid Plus. Elon Musk said that Plaid was just too good, but perhaps Tesla couldn't get the batteries needed to meet promised range specs? There have been questions for years about the numbers Tesla has given for the Semi, Roadster, etc. I should also note that while not totally related, the new Long Range Model S has seen its estimated range on the website configurator reduced from 412 to 405 miles since its soft launch a few months ago.\nThe second item to think about is what's happening with Tesla sales in China. As the graphic below shows, the first two months of Q2 2020 saw the lowest first two months sales in that country in the last three quarters. Yes, Tesla is exporting a large number of vehicles to other markets, more than 11,500 Model 3 units in May. However, the original plan for the Shanghai factory was to serve China only with affordable 3/Y units. More expensive variants were to be produced in the US, and Tesla can't even sell out China production in its home market. Delivery estimates in that country remain at 1-3 weeks for both the 3 and Y, and new reports suggest loan rates have been slashed if you take delivery this month, implying that demand just isn't where management expected it to be.\n(Source: Carsalesbase,and Moneyball Twitter)\nLater in the week, Tesla finally unveiled the new Model S Plaid after months of delays, at an event that was more hype than anything else. A few things stated by the CEO didn't match up with the graphics behind him during the presentation, and it was reported earlier in the day that the vehicle can't even do the promised 200mph at this point. If you're in the market for a $130,000 vehicle that you only want to take to the track, however, then maybe this is for you.\nThe Model S event was not a great show for electric vehicles overall in my opinion. Elon Musk boasted that the Plaid can get 187 miles of range with 15 minutes of charging, but a decent family gas-powered sedan can get 700 miles of highway range in a 5 minute gas stop. This is not going to be a high volume vehicle that will add anything meaningful to Tesla's financials, especially as the high end EV segment continues to become more crowded. Remember, this event was only after numerous delays, and Tesla's Model S page linked above still shows June availability for this new vehicle. Elon Musk highlighting some new features that will eventually help if Tesla solves its full self-driving ambitions, but that timeline remains uncertain.\nOne other item that some investors continue to fret about is Tesla's Bitcoin position. With the cryptocurrency falling tremendously from its all-time high, the company could have left more than a billion dollars on the table by not selling it all already. While that doesn't represent a large portion of the company's cash, it would have made a nice profit, and now the position is getting closer to facing impairment charges. In the end, the concern is that the Bitcoin position takes some focus away from management and has been a major distraction for investors.\nLast week, Tesla shares finished up a little more than $10. A gain of almost 2% may not have been satisfying for the bulls given the company's big event. However, I'm more disappointed in the stock because the 10-Year US Treasury bond yield dropped by 10 basis points last week, which should have really helped Tesla shares and other big growth names to rally. Also, the stock has still not been able to make a major move away from its 200-day moving average (purple line) as seen in the chart below. The gap between that long term trend line and its shorter term technical counterpart is now less than $44 after peaking at nearly $320 earlier this year. This means that the dreaded death cross is more and more likely to happen in the coming weeks.\n(Source: Yahoo! Finance)\nIn the end, last week probably wasn't the one that Tesla fans and investors were really hoping for. The company lost its second most important executive, which puts into question progress on the Semi and other new battery related programs. Additionally, China sales haven't progressed much on their own, definitely not to the point where that factory only supplies to that country. Late in the week, the Model S event was not very exciting, and did little to energize the stock. At the same time, investors still fret over the Bitcoin position, while shares remain unable to make a solid move above their long term moving average. It probably will be a few weeks until we get a new catalyst to watch, with the Q2 production and delivery report scheduled for early July.","news_type":1},"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187296407,"gmtCreate":1623754563609,"gmtModify":1704210602045,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187296407","repostId":"1122399963","repostType":4,"repost":{"id":"1122399963","pubTimestamp":1623742330,"share":"https://ttm.financial/m/news/1122399963?lang=&edition=fundamental","pubTime":"2021-06-15 15:32","market":"us","language":"en","title":"Apple and Google are forcing a rethink in advertising, ad guru Maurice Levy says","url":"https://stock-news.laohu8.com/highlight/detail?id=1122399963","media":"cnbc","summary":"KEY POINTS\n\nChanges to Apple and Google’s web tracking tools mean advertisers are having to “revisit","content":"<div>\n<p>KEY POINTS\n\nChanges to Apple and Google’s web tracking tools mean advertisers are having to “revisit the whole way we are working,” Publicis Chairman Maurice Levy said.\nApple has forced app developers...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/15/apple-google-force-rethink-in-advertising-industry-maurice-levy.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>Apple and Google are forcing a rethink in advertising, ad guru Maurice Levy says</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 and Google are forcing a rethink in advertising, ad guru Maurice Levy says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 15:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/15/apple-google-force-rethink-in-advertising-industry-maurice-levy.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChanges to Apple and Google’s web tracking tools mean advertisers are having to “revisit the whole way we are working,” Publicis Chairman Maurice Levy said.\nApple has forced app developers...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/15/apple-google-force-rethink-in-advertising-industry-maurice-levy.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A","AAPL":"苹果"},"source_url":"https://www.cnbc.com/2021/06/15/apple-google-force-rethink-in-advertising-industry-maurice-levy.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1122399963","content_text":"KEY POINTS\n\nChanges to Apple and Google’s web tracking tools mean advertisers are having to “revisit the whole way we are working,” Publicis Chairman Maurice Levy said.\nApple has forced app developers to ask permission to collect unique identifiers to target mobile ads, while Google plans to ditch third-party cookies on Chrome.\nLevy welcomed plans for a global minimum corporate tax of 15%, and said digital giants should pay their fair share in the countries in which they operate.\n\nDigital privacy moves fromAppleandGoogleare forcing the advertising industry to reconsider the way it works,Publicis Groupe’sMaurice Levy told CNBC.\nThe chairman of the world’s third-biggest advertising company said changes to Apple’s iOS smartphone software and Google’s Chrome web browser meant advertisers were having to “revisit the whole way we are working.”\n“It’s not a clear win” for traditional ad agencies, Levy told CNBC’s Karen Tso Monday.\n“Privacy is extremely important,” he added. “And I think the fact that all those platforms are taking care of the privacy of the consumers and their customers is something which is extraordinarily important. But this is leading to a revisit of the way we are working.”\nApple this year started forcing app developers on its platforms to ask permission before they can collectunique identifiersused by advertisers to target mobile ads and measure how effective they are.\nThe company had alreadybanned the use of unauthorized third-party cookies— which many advertisers rely on to track internet users and serve them with personalized ads — on its Safari browser.\nNow, Google also plans toditch third-party cookies on Chrome, and is in the process of searching for an alternative. Last week, the tech giant said it wouldgive Britain’s competition regulator a sayin its proposal to replace cookies.\nThe move has led to infighting in the tech industry, with Facebook and Apple sparring over the latter’s privacy updates. Facebook is likely to be one of the companies most affected by Apple’s iOS changes, and has been pushing into new business lines likeonline shoppingin an effort to cushion the blow.\nLevy said Publicis’$4.4 billion acquisition of data company Epsilonshould help to shield the marketing giant from the fallout of Apple and Google’s privacy changes.\nTech tax\nApple, Google and other large tech firms are facing growing scrutiny from regulators around the world over everything from their sheer size to how much tax they pay.\nThis month, the Group of Seven (G-7) richest nations agreed ahistoric dealto set a global minimum corporation tax of 15%. The move is aimed in large part at tackling tax avoidance from digital giants like Google, Apple, Facebook and Amazon, with a new tax system linked to the places where multinationals are actually doing business rather than where they are headquartered.\n“I think that the decision which has been made is a very good one,” Levy told CNBC’s Karen Tso. “I believe that it’s normal that somebody who is working in a country pay the taxes in that country.”\nLevy added: “15% is not excessive it’s a minimum I consider that this is fair and I believe that the G-20 will accept that kind of solution.”\n“As all of those platforms have valuation market cap which are above hundreds of billion — and sometimes trillion — it is important that they contribute to the taxes in the country where they operate.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187296643,"gmtCreate":1623754550182,"gmtModify":1704210604475,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187296643","repostId":"1184288080","repostType":4,"isVote":1,"tweetType":1,"viewCount":280,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187299161,"gmtCreate":1623754405453,"gmtModify":1704210596053,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187299161","repostId":"1181891821","repostType":4,"isVote":1,"tweetType":1,"viewCount":360,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187299069,"gmtCreate":1623754392051,"gmtModify":1704210595731,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187299069","repostId":"1163671123","repostType":4,"isVote":1,"tweetType":1,"viewCount":72,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312295515,"gmtCreate":1612149088837,"gmtModify":1704867442787,"author":{"id":"3569671563535771","authorId":"3569671563535771","name":"Gpoh","avatar":"https://static.tigerbbs.com/ee7c8d4a29fb782635166acf40cbe5b0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569671563535771","idStr":"3569671563535771"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/312295515","repostId":"2107223515","repostType":2,"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}