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2022-05-08

A//@股市专家:Nice//@股市专家:Nice//@股市专家:Nice//@ShawnKoh1:like//@daz88888888:$Amazon.com(AMZN)$$Tesla Motors(TSLA)$March, the Fed made a quarter percentage point hike, from near zero. Powell told the International Monetary Fund forum last month, “It is appropriate in my view to be moving a little more quickly. I also think there’s something in the idea of front-end loading whatever accommodation one thinks is appropriate.” Some regarded that comment as a

@daz888888888:Stock Futures Flat, NASDAQ Worst Month Since 2008 🎢😩

06-13

$DiDi Global Inc.(DIDIY)$

07-03

1200 days and counting

06-28

10th anniversary yes

2023-03-19

$Tiger Brokers(TIGR)$

2022-06-16

Y

Powell Sets Path to Restrain Economy and Stop Runaway Inflation

2022-04-17

Y

Reminder: Holiday Trading Hours during Good Friday and Easter

2022-07-07

Y

Buy VXX Call Options To Protect Against A Volatility Spike

2021-03-12

Buy Teala

Tesla Has Gotten Crushed. Wall Street Sees a Buying Opportunity.

2022-09-11

Y

How a CEO Rescued a Big Bet on Big Oil; "There Were a Lot of Doubters"

2021-06-19

Y

Adobe Getting Lift From Economic Reopening Post-Pandemic

2021-04-19

Good

Sorry, the original content has been removed

2021-03-29

Good

British used car dealer Cazoo is going public in the U.S. via $7 billion SPAC deal

2022-06-29

Y

Tesla: This Investment Is Not For The Faint-Hearted

2021-05-30

Nice

The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever

2021-05-20

Stonk

Ford already has 20,000 reservations for new electric F-150 Lightning pickup

2022-07-07

Y

Buy VXX Call Options To Protect Against A Volatility Spike

2022-06-29

Y

Tesla: This Investment Is Not For The Faint-Hearted

2022-03-27

Y

Alphabet Vs. Meta: One Is The Much Better Buy

Go to Tiger App to see more news

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Currently, can only place \"limit” and “day” orders\"","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/329450571088088","isVote":1,"tweetType":1,"viewCount":114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":329275244753008,"gmtCreate":1721395383173,"gmtModify":1721395385086,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/329275244753008","repostId":"328992050213128","repostType":1,"repost":{"id":328992050213128,"gmtCreate":1721345450860,"gmtModify":1721388001951,"author":{"id":"4125570196865622","authorId":"4125570196865622","name":"orsiri","avatar":"https://community-static.tradeup.com/news/65ce9f1def4b96d1cd3e7dce4d696e8e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4125570196865622","authorIdStr":"4125570196865622"},"themes":[],"title":"Amazon vs. Spotify: Which Tech Giant Should You Invest In?","htmlText":"As earnings reports for Amazon and <a href=\"https://ttm.financial/S/SPOT\">$Spotify Technology S.A.(SPOT)$</a> loom on the horizon, it's time to analyse which of these tech titans offers the better investment opportunity. With Amazon set to release its earnings soon and Spotify’s Q2 2024 report expected on Tuesday, July 23, let's dissect their financials, performance, and future prospects. Financial Performance and Metrics Amazon: A Tech Behemoth on the Rise Amazon’s Q1 2024 results were nothing short of impressive. The company reported revenue of $143.3 billion, up 13% year-over-year, despite a 16% quarter-over-quarter decline due to seasonal factors. <a href=\"https://ttm.financial/S/AMZN\">$Amazon.com(AMZN)$</a> surpassed Wall Street estimates by approximately $764 million, showcasing its","listText":"As earnings reports for Amazon and <a href=\"https://ttm.financial/S/SPOT\">$Spotify Technology S.A.(SPOT)$</a> loom on the horizon, it's time to analyse which of these tech titans offers the better investment opportunity. With Amazon set to release its earnings soon and Spotify’s Q2 2024 report expected on Tuesday, July 23, let's dissect their financials, performance, and future prospects. Financial Performance and Metrics Amazon: A Tech Behemoth on the Rise Amazon’s Q1 2024 results were nothing short of impressive. The company reported revenue of $143.3 billion, up 13% year-over-year, despite a 16% quarter-over-quarter decline due to seasonal factors. <a href=\"https://ttm.financial/S/AMZN\">$Amazon.com(AMZN)$</a> surpassed Wall Street estimates by approximately $764 million, showcasing its","text":"As earnings reports for Amazon and $Spotify Technology S.A.(SPOT)$ loom on the horizon, it's time to analyse which of these tech titans offers the better investment opportunity. With Amazon set to release its earnings soon and Spotify’s Q2 2024 report expected on Tuesday, July 23, let's dissect their financials, performance, and future prospects. Financial Performance and Metrics Amazon: A Tech Behemoth on the Rise Amazon’s Q1 2024 results were nothing short of impressive. The company reported revenue of $143.3 billion, up 13% year-over-year, despite a 16% quarter-over-quarter decline due to seasonal factors. $Amazon.com(AMZN)$ surpassed Wall Street estimates by approximately $764 million, showcasing its","images":[{"img":"https://community-static.tradeup.com/news/9f9cf99d309a478afe9a8012e4de409f","width":"1400","height":"896"},{"img":"https://community-static.tradeup.com/news/4520e8638713c8cb6d67cc0b13cf54f7","width":"1400","height":"788"},{"img":"https://community-static.tradeup.com/news/81023ba6b7d97068f5466baeb69d4cb1","width":"1400","height":"896"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/328992050213128","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":4,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":238,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":329275191582776,"gmtCreate":1721395360233,"gmtModify":1721395362139,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/329275191582776","repostId":"329227827503200","repostType":1,"repost":{"id":329227827503200,"gmtCreate":1721383798900,"gmtModify":1721519401905,"author":{"id":"3574752437126777","authorId":"3574752437126777","name":"1PC","avatar":"https://community-static.tradeup.com/news/d93d931cb700e24c910644542320e877","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574752437126777","authorIdStr":"3574752437126777"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/CRWD\">$CrowdStrike Holdings, Inc.(CRWD)$ </a> 2 of my favorite Counter..&nbsp; unfortunately CRWD already in Down 👇 trend 📉, plus this incident, sure plunge it further down 👇. Pre market already break down below 309++, somewhere&nbsp;&nbsp;280++. .. I won't touch this 2 counters for awhile as not able to withstand the Ride&nbsp;🎢. I believe once this root cause is resolved, Price will recover sharply again&nbsp;[Wow]&nbsp;&nbsp;I will wait 🫸🫷. Good 👍 Luck to the Aggressive Hunters&nbsp;[Bless]&nbsp;&nbsp;","listText":"<a href=\"https://ttm.financial/S/CRWD\">$CrowdStrike Holdings, Inc.(CRWD)$ </a> 2 of my favorite Counter..&nbsp; unfortunately CRWD already in Down 👇 trend 📉, plus this incident, sure plunge it further down 👇. Pre market already break down below 309++, somewhere&nbsp;&nbsp;280++. .. I won't touch this 2 counters for awhile as not able to withstand the Ride&nbsp;🎢. I believe once this root cause is resolved, Price will recover sharply again&nbsp;[Wow]&nbsp;&nbsp;I will wait 🫸🫷. Good 👍 Luck to the Aggressive Hunters&nbsp;[Bless]&nbsp;&nbsp;","text":"$CrowdStrike Holdings, Inc.(CRWD)$ 2 of my favorite Counter.. unfortunately CRWD already in Down 👇 trend 📉, plus this incident, sure plunge it further down 👇. Pre market already break down below 309++, somewhere 280++. .. I won't touch this 2 counters for awhile as not able to withstand the Ride 🎢. I believe once this root cause is resolved, Price will recover sharply again [Wow] I will wait 🫸🫷. Good 👍 Luck to the Aggressive Hunters [Bless]","images":[{"img":"https://community-static.tradeup.com/news/cab6ae318b5821a8df7a8547d05637f1","width":"1080","height":"2737"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/329227827503200","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":329276200681648,"gmtCreate":1721395352073,"gmtModify":1721395355751,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/329276200681648","repostId":"329225930190944","repostType":1,"repost":{"id":329225930190944,"gmtCreate":1721383335689,"gmtModify":1721639768372,"author":{"id":"3585001294737518","authorId":"3585001294737518","name":"Universe宇宙","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585001294737518","authorIdStr":"3585001294737518"},"themes":[],"htmlText":"Major outage link to&nbsp;<a href=\"https://ttm.financial/S/MSFT\">$Microsoft(MSFT)$&nbsp;</a><v-v data-views=\"0\"></v-v> and&nbsp;<a href=\"https://ttm.financial/S/CRWD\">$CrowdStrike Holdings, Inc.(CRWD)$ </a> , expect tech sectors to fall, probably between at least -1% to -15%. Planes worldwide grounded, banks down&nbsp;and many others down too!&nbsp;","listText":"Major outage link to&nbsp;<a href=\"https://ttm.financial/S/MSFT\">$Microsoft(MSFT)$&nbsp;</a><v-v data-views=\"0\"></v-v> and&nbsp;<a href=\"https://ttm.financial/S/CRWD\">$CrowdStrike Holdings, Inc.(CRWD)$ </a> , expect tech sectors to fall, probably between at least -1% to -15%. Planes worldwide grounded, banks down&nbsp;and many others down too!&nbsp;","text":"Major outage link to $Microsoft(MSFT)$ and $CrowdStrike Holdings, Inc.(CRWD)$ , expect tech sectors to fall, probably between at least -1% to -15%. Planes worldwide grounded, banks down and many others down too!","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/329225930190944","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323545054281856,"gmtCreate":1720016118224,"gmtModify":1720016125004,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"1200 days and counting","listText":"1200 days and counting","text":"1200 days and counting","images":[{"img":"https://community-static.tradeup.com/news/b327cd3713aa935cd9a03808fbbc7bc9"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/323545054281856","isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":321677682290760,"gmtCreate":1719564950103,"gmtModify":1719564953972,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"10th anniversary yes","listText":"10th anniversary yes","text":"10th anniversary yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/321677682290760","isVote":1,"tweetType":1,"viewCount":111,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321678041911384,"gmtCreate":1719564913048,"gmtModify":1719564914943,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/321678041911384","repostId":"313600081719480","repostType":1,"repost":{"id":313600081719480,"gmtCreate":1717584773809,"gmtModify":1719559158217,"author":{"id":"3527667667103859","authorId":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/c266ef25181ace18bec1262357bbe1a8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667667103859","authorIdStr":"3527667667103859"},"themes":[],"title":"[10th Anniv] Discover exciting features & win a US$1,010 reward!","htmlText":"🎉 Unlock Your Path to $1,010 voucher with Our Winning Guide! 🎉Our exclusive anniversary event is now LIVE, and we want YOU to join in the fun! Not only can you explore our unique tech-driven features, but you also stand a chance to win incredible rewards. Here’s how you can maximize your winnings:🏆 Winning Guide 🏆Discover Exclusive Features:Click to explore the unique features you’re interested in.Watch the feature introduction videos and complete the corresponding tasksShow Your Love:Like your favorite featuresIf the features you like end up in the top three, you’ll share in extra grand prizes!Collect and Win:Complete special tasks to earn pieces.Collect all pieces to exchange for high-value rewards!💡 Pro Tips:Complete highlighted tasks to earn extra rewards and a big bonus!Ready to dive","listText":"🎉 Unlock Your Path to $1,010 voucher with Our Winning Guide! 🎉Our exclusive anniversary event is now LIVE, and we want YOU to join in the fun! Not only can you explore our unique tech-driven features, but you also stand a chance to win incredible rewards. 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S$(HST.SI)$"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9054120851,"gmtCreate":1655355223573,"gmtModify":1676535621933,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Y","listText":"Y","text":"Y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9054120851","repostId":"1163941190","repostType":4,"repost":{"id":"1163941190","kind":"news","pubTimestamp":1655346492,"share":"https://ttm.financial/m/news/1163941190?lang=&edition=fundamental","pubTime":"2022-06-16 10:28","market":"us","language":"en","title":"Powell Sets Path to Restrain Economy and Stop Runaway Inflation","url":"https://stock-news.laohu8.com/highlight/detail?id=1163941190","media":"Bloomberg","summary":"Federal Reserve Chair Jerome Powell took a step toward assuming the mantle of inflation slayer Paul ","content":"<html><head></head><body><p>Federal Reserve Chair Jerome Powell took a step toward assuming the mantle of inflation slayer Paul Volcker, all but acknowledging that reining in run-away price pressures may result in a recession.</p><p>Declaring that it’s essential to bring inflation down, Powell engineered the central bank’s biggest interest-rate increase since 1994 on Wednesday and held out the distinct possibility of another jumbo three-quarter percentage point increase in July.</p><p>He openly endorsed for the first time raising rates well into restrictive territory with the aim of cooling off the labor market and pushing joblessness up -- a strategy that in the past has often resulted in an economic downturn.</p><p><img src=\"https://static.tigerbbs.com/b82f1fd207815a383414415d6f95b066\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"/></p><p>“This is a Volcker-esque Fed,” said Diane Swonk, chief economist at Grant Thornton LLP. “That means the Fed is willing to take a rise in unemployment and a recession to avert a repeat of mistakes of the 1970s. Supply shocks won’t correct themselves, so the Fed must reduce demand to meet a supply constrained world.”</p><p>The shift in stance carries perils not only for the economy, but for financial markets and President Joe Biden. Stocks have tumbled in recent months as the Fed has tightened credit to get on top of inflationary pressures that have proved more persistent and widespread than it expected. While the markets took Wednesday’s rate increase in stride, they remain fragile.</p><p>Biden has seen his popularity plunge as inflation has soared. A recession -- and the higher unemployment that would bring -- would rob the president of one of his few talking points in touting the benefits of his policies for the economy.</p><p>Powell is likely to be grilled by lawmakers next week on why the Fed misjudged the severity of inflation and why it now believes there will be costs to eradicating it when he presents the central bank’s semi-annual review of monetary policy to Congress.</p><p>Ex Fed Chair Volcker is lionized within the Fed for breaking the back of double-digit inflation 40 years ago. What’s not always mentioned is that he had to put the economy through the wringer to do that -- unemployment soared above 10% on his watch -- and that his policies provoked a populist backlash from home builders and others who were particularly hard hit by the credit squeeze.</p><p>Unlike Volcker, Powell said the Fed was not out to drive the economy into recession. But he effectively admitted that a downturn was possible, though he argued that it wouldn’t be the Fed’s fault.</p><p>“Our objective really is to bring inflation down to 2% while the labor market remains strong,” Powell told reporters. “I think that what’s becoming more clear is that many factors that we don’t control are going to play a very significant role in deciding whether that’s possible or not,” in particular Russia’s invasion of Ukraine and the potentially extended impact that could have on energy and food prices.</p><p>An increasing number of economists are projecting a downturn next year as the Fed struggles to get on top of inflation that’s running at its highest level in four decades. Nearly 70% of academic economists polled by the Financial Times and the University of Chicago foresee a contraction in gross domestic product next year, according to survey released June 13.</p><p>Fed policy makers’ projections released after the meeting show the economy continuing to grow this year and next, though at a subpar pace. But they also foresee unemployment rising, something that usually only happens during a recession: Joblessness is forecast to rise to 4.1% at the end of 2024 from 3.6% now, according to the median forecast.</p><p>While maintaining that a 4.1% jobless rate would still be historically low, Powell made clear that the Fed’s No. 1 goal was not tending to the labor market but getting inflation under wraps.</p><p>“I will begin with one overarching message,” the Fed chair said at the start of his press conference. “We’re strongly committed to bringing inflation back down, and we’re moving expeditiously to do so.”</p><p>To that end, policy makers are projecting a steep rise in interest rates in coming months. They now see the federal funds rate they control rising to 3.4% by the end of this year and 3.8% at the end of 2023. That’s well above the 2.5% rate they reckon is neutral for the economy -- neither spurring nor restricting growth -- and compares with the current fund’s rate target of 1.5% to 1.75%.</p><p><img src=\"https://static.tigerbbs.com/ad39f048cb86e606dcb5954bc087ae15\" tg-width=\"936\" tg-height=\"460\" width=\"100%\" height=\"auto\"/></p><p>But even that won’t be enough to bring inflation fully back to the Fed’s 2% goal. It’s projected to end 2024 at 2.2%, compared with 6.3% now.</p><p>Powell in particular stressed the importance of keeping inflation expectations in check and said that was one reason the Fed abruptly decided to raise rates by three-quarters of a percentage point Wednesday, instead of the half-point increase it had been telegraphing for weeks.</p><p>It was an un-anchoring of inflation expectations that bedeviled Volcker and forced him into delivering such harsh monetary medicine to bring price gains under control, at one point pushing interest rates as high as 20%. Consumers, workers and businesses back then were convinced that inflation was headed ever higher, and so acted in ways that helped bring that about.</p><p>Powell said that’s why policy makers can’t ignore run-ups in oil and food prices, even though they are outside its control. They affect how Americans view the outlook for inflation.</p><p>“Powell is determined not to repeat the mistakes of Arthur Burns, who led the central bank during the wage-price spiral of the 1970s” and preceded Volcker as Fed chair, Anna Wong, Chief U.S. Economist for Bloomberg Economics, said in a note. “Officials now appear to acknowledge that inflation is a real problem, and they are increasingly recognizing and accepting the costs that will come with tighter monetary policy. “</p></body></html>","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>Powell Sets Path to Restrain Economy and Stop Runaway Inflation</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell Sets Path to Restrain Economy and Stop Runaway Inflation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-16 10:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-15/powell-sets-path-to-restrain-economy-and-stop-runaway-inflation?srnd=premium-asia#xj4y7vzkg><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Federal Reserve Chair Jerome Powell took a step toward assuming the mantle of inflation slayer Paul Volcker, all but acknowledging that reining in run-away price pressures may result in a recession....</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-15/powell-sets-path-to-restrain-economy-and-stop-runaway-inflation?srnd=premium-asia#xj4y7vzkg\">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",".IXIC":"NASDAQ Composite"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-15/powell-sets-path-to-restrain-economy-and-stop-runaway-inflation?srnd=premium-asia#xj4y7vzkg","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163941190","content_text":"Federal Reserve Chair Jerome Powell took a step toward assuming the mantle of inflation slayer Paul Volcker, all but acknowledging that reining in run-away price pressures may result in a recession.Declaring that it’s essential to bring inflation down, Powell engineered the central bank’s biggest interest-rate increase since 1994 on Wednesday and held out the distinct possibility of another jumbo three-quarter percentage point increase in July.He openly endorsed for the first time raising rates well into restrictive territory with the aim of cooling off the labor market and pushing joblessness up -- a strategy that in the past has often resulted in an economic downturn.“This is a Volcker-esque Fed,” said Diane Swonk, chief economist at Grant Thornton LLP. “That means the Fed is willing to take a rise in unemployment and a recession to avert a repeat of mistakes of the 1970s. Supply shocks won’t correct themselves, so the Fed must reduce demand to meet a supply constrained world.”The shift in stance carries perils not only for the economy, but for financial markets and President Joe Biden. Stocks have tumbled in recent months as the Fed has tightened credit to get on top of inflationary pressures that have proved more persistent and widespread than it expected. While the markets took Wednesday’s rate increase in stride, they remain fragile.Biden has seen his popularity plunge as inflation has soared. A recession -- and the higher unemployment that would bring -- would rob the president of one of his few talking points in touting the benefits of his policies for the economy.Powell is likely to be grilled by lawmakers next week on why the Fed misjudged the severity of inflation and why it now believes there will be costs to eradicating it when he presents the central bank’s semi-annual review of monetary policy to Congress.Ex Fed Chair Volcker is lionized within the Fed for breaking the back of double-digit inflation 40 years ago. What’s not always mentioned is that he had to put the economy through the wringer to do that -- unemployment soared above 10% on his watch -- and that his policies provoked a populist backlash from home builders and others who were particularly hard hit by the credit squeeze.Unlike Volcker, Powell said the Fed was not out to drive the economy into recession. But he effectively admitted that a downturn was possible, though he argued that it wouldn’t be the Fed’s fault.“Our objective really is to bring inflation down to 2% while the labor market remains strong,” Powell told reporters. “I think that what’s becoming more clear is that many factors that we don’t control are going to play a very significant role in deciding whether that’s possible or not,” in particular Russia’s invasion of Ukraine and the potentially extended impact that could have on energy and food prices.An increasing number of economists are projecting a downturn next year as the Fed struggles to get on top of inflation that’s running at its highest level in four decades. Nearly 70% of academic economists polled by the Financial Times and the University of Chicago foresee a contraction in gross domestic product next year, according to survey released June 13.Fed policy makers’ projections released after the meeting show the economy continuing to grow this year and next, though at a subpar pace. But they also foresee unemployment rising, something that usually only happens during a recession: Joblessness is forecast to rise to 4.1% at the end of 2024 from 3.6% now, according to the median forecast.While maintaining that a 4.1% jobless rate would still be historically low, Powell made clear that the Fed’s No. 1 goal was not tending to the labor market but getting inflation under wraps.“I will begin with one overarching message,” the Fed chair said at the start of his press conference. “We’re strongly committed to bringing inflation back down, and we’re moving expeditiously to do so.”To that end, policy makers are projecting a steep rise in interest rates in coming months. They now see the federal funds rate they control rising to 3.4% by the end of this year and 3.8% at the end of 2023. That’s well above the 2.5% rate they reckon is neutral for the economy -- neither spurring nor restricting growth -- and compares with the current fund’s rate target of 1.5% to 1.75%.But even that won’t be enough to bring inflation fully back to the Fed’s 2% goal. It’s projected to end 2024 at 2.2%, compared with 6.3% now.Powell in particular stressed the importance of keeping inflation expectations in check and said that was one reason the Fed abruptly decided to raise rates by three-quarters of a percentage point Wednesday, instead of the half-point increase it had been telegraphing for weeks.It was an un-anchoring of inflation expectations that bedeviled Volcker and forced him into delivering such harsh monetary medicine to bring price gains under control, at one point pushing interest rates as high as 20%. Consumers, workers and businesses back then were convinced that inflation was headed ever higher, and so acted in ways that helped bring that about.Powell said that’s why policy makers can’t ignore run-ups in oil and food prices, even though they are outside its control. They affect how Americans view the outlook for inflation.“Powell is determined not to repeat the mistakes of Arthur Burns, who led the central bank during the wage-price spiral of the 1970s” and preceded Volcker as Fed chair, Anna Wong, Chief U.S. Economist for Bloomberg Economics, said in a note. “Officials now appear to acknowledge that inflation is a real problem, and they are increasingly recognizing and accepting the costs that will come with tighter monetary policy. “","news_type":1},"isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9081030976,"gmtCreate":1650166410981,"gmtModify":1676534661414,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Y","listText":"Y","text":"Y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9081030976","repostId":"1133070824","repostType":4,"repost":{"id":"1133070824","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1649399100,"share":"https://ttm.financial/m/news/1133070824?lang=&edition=fundamental","pubTime":"2022-04-08 14:25","market":"us","language":"en","title":"Reminder: Holiday Trading Hours during Good Friday and Easter","url":"https://stock-news.laohu8.com/highlight/detail?id=1133070824","media":"Tiger Newspress","summary":"U.S. stock markets will be closed Friday, April 15in observance of Good Friday.The New York Stock Exchange and the Nasdaq will resume normal trading hours on Monday.The Securities Industry and Financi","content":"<html><head></head><body><p>U.S. stock markets will be closed Friday, April 15 in observance of Good Friday.</p><p>The New York Stock Exchange and the Nasdaq will resume normal trading hours on Monday.</p><p>The Securities Industry and Financial Markets Association recommended the U.S. bond market close Friday. It also advised that the bond market shutter early on Thursday, April14 at 2 p.m. Eastern.</p><p>U.S. commodities markets including gold and oil futures also won&#39;t be open for trading Friday.</p><p>Singapore stock markets will also close on Good Friday.</p><p>Stock markets in Europe, Hong Kong and Australia will close on Good Friday and on Monday in observance of Easter.</p><p>A-shares (Northbound) will be closed to April 18 from April 14.</p><p><img src=\"https://static.tigerbbs.com/8d9bbb655e7216a0c27a0cb94e0d0875\" tg-width=\"1482\" tg-height=\"1328\" width=\"100%\" height=\"auto\"/></p><p>Good Friday commemorates the crucifixion of Jesus Christ. It isn’t a federal holiday, which means businesses often stay open. Good Friday is the only time U.S. markets close for the day outside of federal holidays.</p></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>Reminder: Holiday Trading Hours during Good Friday and Easter</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\">\nReminder: Holiday Trading Hours during Good Friday and Easter\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-04-08 14:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock markets will be closed Friday, April 15 in observance of Good Friday.</p><p>The New York Stock Exchange and the Nasdaq will resume normal trading hours on Monday.</p><p>The Securities Industry and Financial Markets Association recommended the U.S. bond market close Friday. It also advised that the bond market shutter early on Thursday, April14 at 2 p.m. Eastern.</p><p>U.S. commodities markets including gold and oil futures also won&#39;t be open for trading Friday.</p><p>Singapore stock markets will also close on Good Friday.</p><p>Stock markets in Europe, Hong Kong and Australia will close on Good Friday and on Monday in observance of Easter.</p><p>A-shares (Northbound) will be closed to April 18 from April 14.</p><p><img src=\"https://static.tigerbbs.com/8d9bbb655e7216a0c27a0cb94e0d0875\" tg-width=\"1482\" tg-height=\"1328\" width=\"100%\" height=\"auto\"/></p><p>Good Friday commemorates the crucifixion of Jesus Christ. It isn’t a federal holiday, which means businesses often stay open. Good Friday is the only time U.S. markets close for the day outside of federal holidays.</p></body></html>\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":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133070824","content_text":"U.S. stock markets will be closed Friday, April 15 in observance of Good Friday.The New York Stock Exchange and the Nasdaq will resume normal trading hours on Monday.The Securities Industry and Financial Markets Association recommended the U.S. bond market close Friday. It also advised that the bond market shutter early on Thursday, April14 at 2 p.m. Eastern.U.S. commodities markets including gold and oil futures also won't be open for trading Friday.Singapore stock markets will also close on Good Friday.Stock markets in Europe, Hong Kong and Australia will close on Good Friday and on Monday in observance of Easter.A-shares (Northbound) will be closed to April 18 from April 14.Good Friday commemorates the crucifixion of Jesus Christ. It isn’t a federal holiday, which means businesses often stay open. Good Friday is the only time U.S. markets close for the day outside of federal holidays.","news_type":1},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9079027133,"gmtCreate":1657124270022,"gmtModify":1676535953833,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Y","listText":"Y","text":"Y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9079027133","repostId":"1125207440","repostType":4,"repost":{"id":"1125207440","kind":"news","pubTimestamp":1657121422,"share":"https://ttm.financial/m/news/1125207440?lang=&edition=fundamental","pubTime":"2022-07-06 23:30","market":"us","language":"en","title":"Buy VXX Call Options To Protect Against A Volatility Spike","url":"https://stock-news.laohu8.com/highlight/detail?id=1125207440","media":"barchart","summary":"Market volatility has dropped slightly in recent weeks as measured by the CBOE Volatility (VIX) Inde","content":"<html><head></head><body><p>Market volatility has dropped slightly in recent weeks as measured by the CBOE Volatility (VIX) Index. VIX is a real-time index that represents the market expectation for near-term volatility in the S&amp;P500 index.</p><p>Investors and traders have long used VIX as a measure of the level of risk, fear or stress in the market.</p><p>The iPath S&amp;P 500 VIX Short-Term Futures ETN (VXX) is a volatility exchange traded note (ETF) and behaves differently to a regular ETF. VXX typically sees large price increase when the S&amp;P500 tanks. However, most of the time it slowly but surely drops in price. Take a look at a long-term chart and you’ll see what I mean.</p><p><img src=\"https://static.tigerbbs.com/11fbb63999cf60b918a8ee0d8af0f8c2\" tg-width=\"940\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/>As traders, we can also use VXX options to place trades that benefit from either rising or falling volatility.</p><p>Buying VXX Call Options To Protect Against A Volatility Spike</p><p>Some traders will buy VXX call options as a method of protecting against rising volatility. Let’s look at a couple of different examples.</p><p>A long call option trade gives the buyer of the option the right to purchase a certain stock at a certain price (strike price) up until a certain date (expiration date).</p><p>Suppose an investor is worried about a market drop and associated volatility spike between now and mid-August.</p><p>The investor could purchase a VXX August 19 call option with a strike price of 27. This call option contract was trading on Friday for around $1.10 meaning the investor would need to pay $110 to purchase the call option.</p><p>The maximum loss is limited to the premium paid, which in this case is $110. The maximum loss would occur if VXX closes below 27 on August 19. The breakeven price is 28.10 which is calculated by taking the strike price and adding the premium paid.</p><p>The maximum potential gain is unlimited.</p><p>Savvy traders can further reduce the risk by selling an out-of-the-money call, turning the trade into a bull call spread.</p><p>For example, selling the August 19, 32 call would reduce the trade cost by around $50 but would also limit the upside above 32.</p><p><b>Conclusion</b></p><p>Using VXX options can be simple and cheap way to buy some protection against a sharp selloff in stocks between now and August. The trade can be placed relatively cheaply at $110 for the long call or just $60 for the bull call spread.</p><p>While it is important to keep in mind that it may take a fairly large volatility spike to see VXX jump above 27, for a low cost, this particular option trade could help you sleep easier at night.</p><p>VXX and VXX options behave differently to regular ETF’s and options, so it is vital that any trader using this product fully understands the risks involved. As always, do your own research and due diligence before risking any of your hard-earned capital.</p><p>Please remember that options are risky, and investors can lose 100% of their investment. This article is for education purposes only and not a trade recommendation. Remember to always do your own due diligence and consult your financial advisor before making any investment decisions.</p></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>Buy VXX Call Options To Protect Against A Volatility Spike</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\">\nBuy VXX Call Options To Protect Against A Volatility Spike\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-06 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barchart.com/story/news/9004027/protecting-against-an-august-volatility-spike><strong>barchart</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Market volatility has dropped slightly in recent weeks as measured by the CBOE Volatility (VIX) Index. VIX is a real-time index that represents the market expectation for near-term volatility in the S...</p>\n\n<a href=\"https://www.barchart.com/story/news/9004027/protecting-against-an-august-volatility-spike\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VXX":"短期VIX期货ETN","VIX":"标普500波动率指数"},"source_url":"https://www.barchart.com/story/news/9004027/protecting-against-an-august-volatility-spike","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125207440","content_text":"Market volatility has dropped slightly in recent weeks as measured by the CBOE Volatility (VIX) Index. VIX is a real-time index that represents the market expectation for near-term volatility in the S&P500 index.Investors and traders have long used VIX as a measure of the level of risk, fear or stress in the market.The iPath S&P 500 VIX Short-Term Futures ETN (VXX) is a volatility exchange traded note (ETF) and behaves differently to a regular ETF. VXX typically sees large price increase when the S&P500 tanks. However, most of the time it slowly but surely drops in price. Take a look at a long-term chart and you’ll see what I mean.As traders, we can also use VXX options to place trades that benefit from either rising or falling volatility.Buying VXX Call Options To Protect Against A Volatility SpikeSome traders will buy VXX call options as a method of protecting against rising volatility. Let’s look at a couple of different examples.A long call option trade gives the buyer of the option the right to purchase a certain stock at a certain price (strike price) up until a certain date (expiration date).Suppose an investor is worried about a market drop and associated volatility spike between now and mid-August.The investor could purchase a VXX August 19 call option with a strike price of 27. This call option contract was trading on Friday for around $1.10 meaning the investor would need to pay $110 to purchase the call option.The maximum loss is limited to the premium paid, which in this case is $110. The maximum loss would occur if VXX closes below 27 on August 19. The breakeven price is 28.10 which is calculated by taking the strike price and adding the premium paid.The maximum potential gain is unlimited.Savvy traders can further reduce the risk by selling an out-of-the-money call, turning the trade into a bull call spread.For example, selling the August 19, 32 call would reduce the trade cost by around $50 but would also limit the upside above 32.ConclusionUsing VXX options can be simple and cheap way to buy some protection against a sharp selloff in stocks between now and August. The trade can be placed relatively cheaply at $110 for the long call or just $60 for the bull call spread.While it is important to keep in mind that it may take a fairly large volatility spike to see VXX jump above 27, for a low cost, this particular option trade could help you sleep easier at night.VXX and VXX options behave differently to regular ETF’s and options, so it is vital that any trader using this product fully understands the risks involved. As always, do your own research and due diligence before risking any of your hard-earned capital.Please remember that options are risky, and investors can lose 100% of their investment. This article is for education purposes only and not a trade recommendation. Remember to always do your own due diligence and consult your financial advisor before making any investment decisions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328452632,"gmtCreate":1615554635926,"gmtModify":1704784477578,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Buy Teala","listText":"Buy Teala","text":"Buy Teala","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/328452632","repostId":"1117636536","repostType":4,"repost":{"id":"1117636536","kind":"news","pubTimestamp":1615548687,"share":"https://ttm.financial/m/news/1117636536?lang=&edition=fundamental","pubTime":"2021-03-12 19:31","market":"us","language":"en","title":"Tesla Has Gotten Crushed. Wall Street Sees a Buying Opportunity.","url":"https://stock-news.laohu8.com/highlight/detail?id=1117636536","media":"Barrons","summary":"Wall Street is quietly becoming more upbeat about shares of the electric-vehicle pioneer Tesla.Anoth","content":"<p>Wall Street is quietly becoming more upbeat about shares of the electric-vehicle pioneer&nbsp;Tesla.Another analyst gave it a&nbsp;Buy rating&nbsp;on Wednesday evening.</p><p>“Tesla is the global leader in the EV market with its vertically integrated manufacturing,advanced batteryand [advanced driver assistance system], innovation, and an unsurpassed EV footprint,” wrote Mizuho analyst Vijay Rakesh in a research report beginning coverage of the stock. His target for the stock price is $775, while the shares were at $699.6 on Thursday.</p><p>Rakesh sees EVs accounting for&nbsp;up to 25%&nbsp;of all light-vehicle production by 2024. He believes Tesla’s technology and increasing internal battery production position it well to take advantage of that projected EV growth.</p><p>Rakesh covers a mix of tech and auto stocks. His coverage list also includesNIO(NIO) andIntel(INTC).</p><p>With the Mizuho call, about 37% of analysts covering Tesla stock rate shares at Buy, compared with some 20% in early 2020. The&nbsp;average&nbsp;Buy-rating ratio for stocks in the Dow Jones Industrial Average is about 60%. Tesla remains below average on that metric, but it has never had a high Buy-rating ratio. In fact, 37% is about as high as the ratio has been since the end of 2019, when shares traded in the $60s.</p><p>Another sign of increased optimism is the average analystprice target. It’s up about 50% year to date, rising from roughly $420 to more than $620 a share.</p><p>What is more, the consensus earnings estimate for 2024 has gone from about $8 to $11.25 a share over the past three months. Of course, 2024 is a long way off, but Tesla is a high-growth company. It is targeting average annual growth in sales volume of 50% for the foreseeable future.</p><p>The Street’s opinion is changing, slowly, while Tesla stock drops. Shares were down 37% from their high before a 20% Tuesday rally. Shares are still down about 5% year to date, worse than the 3.8% comparable rise of the&nbsp;S&amp;P 500.</p><p>Tesla shares opened higher again Wednesday, after news that consumer prices in February rose less than economists expected, allaying concern about inflation. But the rally fizzled and Tesla stock ended the day down 0.8% while the S&amp;P 500 gained 0.6%</p><p>Tesla is richly valued, high-growth company and inflation fears, which bring higher interest rates, hurt its stock more than most.Higher interest rates&nbsp;not only increase the cost to borrow the money companies need to grow, but they also reduce the discounted present value of money to be earned in the future. That makes growth stocks a little less attractive, relatively speaking, than companies generating cash flow today.</p><p>Wall Street seems more positive on Tesla now that inflation concerns have dragged down the stock price.</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> Tesla Has Gotten Crushed. Wall Street Sees a Buying Opportunity.</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\">\n Tesla Has Gotten Crushed. Wall Street Sees a Buying Opportunity.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-12 19:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-gets-a-new-buy-rating-as-wall-street-quietly-gets-more-upbeat-51615477241?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street is quietly becoming more upbeat about shares of the electric-vehicle pioneer Tesla.Another analyst gave it a Buy rating on Wednesday evening.“Tesla is the global leader in the EV market ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-gets-a-new-buy-rating-as-wall-street-quietly-gets-more-upbeat-51615477241?mod=RTA\">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://www.barrons.com/articles/tesla-gets-a-new-buy-rating-as-wall-street-quietly-gets-more-upbeat-51615477241?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117636536","content_text":"Wall Street is quietly becoming more upbeat about shares of the electric-vehicle pioneer Tesla.Another analyst gave it a Buy rating on Wednesday evening.“Tesla is the global leader in the EV market with its vertically integrated manufacturing,advanced batteryand [advanced driver assistance system], innovation, and an unsurpassed EV footprint,” wrote Mizuho analyst Vijay Rakesh in a research report beginning coverage of the stock. His target for the stock price is $775, while the shares were at $699.6 on Thursday.Rakesh sees EVs accounting for up to 25% of all light-vehicle production by 2024. He believes Tesla’s technology and increasing internal battery production position it well to take advantage of that projected EV growth.Rakesh covers a mix of tech and auto stocks. His coverage list also includesNIO(NIO) andIntel(INTC).With the Mizuho call, about 37% of analysts covering Tesla stock rate shares at Buy, compared with some 20% in early 2020. The average Buy-rating ratio for stocks in the Dow Jones Industrial Average is about 60%. Tesla remains below average on that metric, but it has never had a high Buy-rating ratio. In fact, 37% is about as high as the ratio has been since the end of 2019, when shares traded in the $60s.Another sign of increased optimism is the average analystprice target. It’s up about 50% year to date, rising from roughly $420 to more than $620 a share.What is more, the consensus earnings estimate for 2024 has gone from about $8 to $11.25 a share over the past three months. Of course, 2024 is a long way off, but Tesla is a high-growth company. It is targeting average annual growth in sales volume of 50% for the foreseeable future.The Street’s opinion is changing, slowly, while Tesla stock drops. Shares were down 37% from their high before a 20% Tuesday rally. Shares are still down about 5% year to date, worse than the 3.8% comparable rise of the S&P 500.Tesla shares opened higher again Wednesday, after news that consumer prices in February rose less than economists expected, allaying concern about inflation. But the rally fizzled and Tesla stock ended the day down 0.8% while the S&P 500 gained 0.6%Tesla is richly valued, high-growth company and inflation fears, which bring higher interest rates, hurt its stock more than most.Higher interest rates not only increase the cost to borrow the money companies need to grow, but they also reduce the discounted present value of money to be earned in the future. That makes growth stocks a little less attractive, relatively speaking, than companies generating cash flow today.Wall Street seems more positive on Tesla now that inflation concerns have dragged down the stock price.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9932895601,"gmtCreate":1662910654604,"gmtModify":1676537161688,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Y","listText":"Y","text":"Y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9932895601","repostId":"2266817381","repostType":4,"repost":{"id":"2266817381","kind":"highlight","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":1662861434,"share":"https://ttm.financial/m/news/2266817381?lang=&edition=fundamental","pubTime":"2022-09-11 09:57","market":"us","language":"en","title":"How a CEO Rescued a Big Bet on Big Oil; \"There Were a Lot of Doubters\"","url":"https://stock-news.laohu8.com/highlight/detail?id=2266817381","media":"Dow Jones","summary":"Occidental Petroleum Corp. entered the thick of the pandemic among the worst prepared of its U.S. oi","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/be5cb2e717152d9e61504d0803ac3654\" tg-width=\"1278\" tg-height=\"1278\" referrerpolicy=\"no-referrer\"/>Occidental Petroleum Corp. entered the thick of the pandemic among the worst prepared of its U.S. oil-and-gas peers. Struggling with debt from an ill-timed $38 billion deal, Chief ExecutiveVicki Hollubwas fending off activist investorCarl Icahn, who controlled two board seats.</p><p>Two years later, the company has emerged as the top performer in the S&amp;P 500, and Ms. Hollub has traded Mr. Icahn, who sold all of his Occidental shares in March, for Warren Buffett, whoseBerkshire Hathaway Inc. now owns more than 20% of the company.</p><p>It was touch and go for a time. Months before the pandemic took hold, she implemented widespread layoffs. To stave off bankruptcy after oil prices collapsed in 2020, she slashed spending and nearly eliminated Occidental’s once-sacrosanct dividend—“the biggest and toughest decision that I made and I’ve ever made in my career,” she said in an interview.</p><p>Her 2019 acquisition of rival Anadarko Petroleum Corp., which Mr. Icahn called a “disaster,” has given Occidental the dominant position in the largest U.S. shale-oil field, the Permian Basin. Lifted by climbing oil prices, Occidental generated a record $4.35 billion in free cash flow and $3.7 billion in profit in the second quarter. It has cut its debt to $22 billion from nearly $36 billion a year ago.</p><p><img src=\"https://static.tigerbbs.com/61847881fba325e1dc5c7ed3280e29db\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/>Oil-and-gas producers have reported banner profits this year, even as a global energy crisis sparked by Russia’s invasion of Ukraine has threatened to derail European industries, left the U.K. facing its worst economic crisis since the 1970s and forced the Netherlands, Germany and India to rely heavily on coal to make up for a dearth of natural gas.</p><p>But Ms. Hollub, the first woman to be CEO of a major U.S. oil company, says she doesn’t feel vindicated. “I just feel relief,” she said. “There were a lot of doubters.”</p><p>Mr. Buffett has publicly lauded Ms. Hollub’s leadership. After she detailed the company’s future plans for analysts in February, Mr. Buffett told his own shareholders, “What Vicki Hollub was saying made nothing but sense.” Last month, Berkshire received regulatory approval to buy up to 50% of the oil company’s shares, spurring speculation it might seek to purchase all of Occidental.</p><p>Mr. Buffett declined to comment for this story. Ms. Hollub said she has “tremendous respect” for Mr. Buffett, adding that “he will be very beneficial for us as we go forward.” She declined to discuss the possibility of Berkshire purchasing the entire company.</p><p>Some former investors remain skeptical, saying a spike in oil prices has rescued the company, not Ms. Hollub.</p><p>“I have nothing personal against Vicki,” Mr. Icahn said in an interview. “However, that will never change my mind that she should not have made a bet-the-company investment by way of overpaying for Anadarko.”</p><p>A University of Alabama graduate, Ms. Hollub joined Occidental in 1982 and soon found herself running operations in Russia and Venezuela. She almost got laid off in 2003, butTodd Stevens, an executive at the company who had followed her rise, arranged for her to lead a team evaluating acreage in Colorado, said Mr. Stevens, who has since left.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bf58d7d767a23cfb352e019504bafa44\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>Equipment used to process carbon dioxide, crude oil and water at an Occidental Petroleum project in Hobbs, N.M.PHOTO:ERNEST SCHEYDER/REUTERS</span></p><p>Ms. Hollub became known as a hard worker, once spending three weeks straightening out operations at a new gas field’s first well, said Donnie Enns, a former geophysicist who worked under her. “Nobody worked harder than Vicki,” he said. She also found time to run an office March Madness basketball pool.</p><p>After being named CEO of the company in 2016, Ms. Hollub departed from her predecessor’s preference for low-risk, “bolt-on” transactions. A little over a year into the job, she started courting Anadarko, an oil producer of comparable size, for a deal.</p><p>She outflanked largerChevronCorp. in a bidding war that riveted the oil patch, offering $5 billion more than her rival for Anadarko and its prized assets in the epicenter of U.S. shale production. Yet victory came at a steep cost.</p><p>Some of Occidental’s largest shareholders decried the deal—especially a pricey loan from Mr. Buffett in the form of $10 billion in preferred stock paying 8% annually in dividends, or $800 million. Ms. Hollub negotiated the funding at the eleventh hour after meeting with the financier in Omaha, Neb. Mr. Icahn, who first bought stock as the Anadarko bidding war came to a close, wrote to Occidental shareholders that “Buffett figuratively took her to the cleaners.”</p><p>Ms. Hollub acknowledged the deal damaged the company’s standing with some investors. “I was never offended at the fact that our shareholders were skeptical,” she said.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58cf5cd81991220ec1f42821cee2554b\" tg-width=\"639\" tg-height=\"959\" referrerpolicy=\"no-referrer\"/><span>Vicki Hollub said she never doubted the wisdom of the Anadarko acquisition.PHOTO:ANGELA OWENS/THE WALL STREET JOURNAL</span></p><p>But she said she never doubted the wisdom of the acquisition, even after it sparked an investor revolt that created an opportunity for Mr. Icahn.</p><p>Central to Ms. Hollub’s strategy was building on Occidental’s already-large position in the oil-rich Permian of West Texas and New Mexico. She believed purchasing and drilling a huge swath of new acreage, much of it near the company’s existing assets, would give Occidental economies of scale and allow it to outperform Permian rivals. Occidental, she said, was one of the most technologically advanced drillers in the field; it would turn Anadarko’s undeveloped assets into oil-gushing wells.</p><p>By the end of 2019, the oil producer said it was making progress on its merger goals. It had divested itself of more than $6 billion in assets, including stakes in a liquefied natural gas export project in Mozambique and in a Houston-based pipeline company. Occidental recorded single-day and monthly production records in the Permian and other oil fields. Occidental announced its 182nd consecutive quarterly dividend, which Ms. Hollub noted at the time that “few other companies can claim.”</p><p>Ms. Hollub believed the merger was on track, but investors remained skeptical. From the time of Occidental’s counteroffer for Anadarko in April 2019 to February 2020 Occidental’s stock fell around 35%. Then the global pandemic took hold.</p><p>As billions of people around the world began to lock down, demand for oil plummeted. In the spring, oil prices reached historic lows, briefly turning negative for the first time ever as traders paid counterparties to take oil off their hands. Falling demand for their product hammered oil-and-gas companies, forcing dozens into bankruptcy.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9090db9eab1ac4c91bd5b1b441d26206\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>Gasoline prices sank in April 2020 after the global pandemic caused oil prices to drop below zero.PHOTO:FREDERIC J. BROWN/AGENCE FRANCE-PRESSE/GETTY IMAGES</span></p><p>Every day, Ms. Hollub would drive to Occidental’s Houston offices in her red Jeep Wrangler, said Glenn Vangolen, a former senior vice president at Occidental and close adviser to the CEO. Mondays and Fridays, she and her lieutenants would mask up and gather in a conference room to discuss operations. Her office was spartan—a mostly bare room, except for a TV playing business news on mute, and a plush stuffed version of a costumed elephant, the Alabama Crimson Tide’s mascot, Mr. Vangolen said.</p><p>Occidental was in a worse situation than many of its peers: At the end of 2019, its long-term debt of about $39 billion was equivalent to roughly four times its earnings, excluding interest, taxes and other accounting items, quadruple the ratio from a year earlier, S&amp;P Capital IQ data show. The divestitures it had planned on to pay it down were no longer viable as assets were losing value.</p><p>Ms. Hollub said that Occidental made a lot of the difficult decisions before the pandemic to mitigate the downside risks of the Anadarko acquisition, including hedging a portion of its oil production and bumping its line of credit to $5 billion. But the company still faced painful months ahead as it had barely enough cash on hand to meet debt maturities coming due in 2021 and was later forced to hire restructuring advisers.</p><p>Ms. Hollub moved to cut her executives’ salaries—including her own by 81%—offer employees voluntary buy-outs, slash expenses in the oil patch and cancel employee perks. She also cut the dividend, which rankled investors.</p><p>Mr. Icahn amplified his calls for Ms. Hollub’s ouster and said he would seek to replace the entire board of directors at the company’s annual meeting. As the oil producer’s stock plunged to under $10 from around $45 before the pandemic, Mr. Icahn—facing paper losses of about $1 billion—doubled down on his shares, boosting his stake to roughly 10% from about 2%.</p><p>After a price war between Russia and Saudi Arabia caused oil prices to plunge below $25 a barrel in March, Occidental reached a settlement with Mr. Icahn. The deal gave board seats to two of his deputies and added another director, required Occidental to create an oversight committee that must be informed of any offers to acquire the company or its assets, and replaced the board chairman withStephen Chazen, Ms. Hollub’s predecessor as CEO.</p><p>Mr. Icahn’s camp pushed for Occidental to give its shareholders warrants that could allow them to buy discounted shares in the future. After he prevailed, Mr. Icahn received roughly 11 million warrants initially and bought more when they were worth around $3.</p><p>Mr. Vangolen said Mr. Icahn’s demand for warrants was part of the investor’s “raider playbook,” which he described as “trying to extract as much cash out of the business as you can before you bail.”</p><p>Mr. Icahn said that all the shareholders who rode the stock down deserved something for their loyalty.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3af2c050a88b00dd9846de958b65be1b\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>A crude oil pump jack in the Permian Basin in Loving County, Texas.PHOTO:ANGUS MORDANT/REUTERS</span></p><p>As the pandemic dragged on, Occidental logged a roughly $14.8 billion loss for 2020, its largest on record, according to S&amp;P Capital IQ data. Still, it continued to whittle down its mammoth debt, closing around $2.5 billion in asset sales at the end of 2020. Anadarko’s assets, meanwhile, were starting to shine, with production in the Permian reaching the high end of company estimates.</p><p>Even as Ms. Hollub wrestled with Mr. Icahn, she was building a relationship with Mr. Buffett.</p><p>In 2020, she traveled to Omaha to discuss Occidental&#39;s long-term strategy with Mr. Buffett, according to a person familiar with the meeting. The investor expressed a strong interest in the company&#39;s goal to become a leader in carbon capture, this person said.</p><p>Occidental says it has no plans to stop producing oil but also aims to be a leader in &#34;carbon management.&#34; It wants to develop 70 plants by 2035 to suck carbon dioxide out of the air, store it in the ground and sell carbon credits to businesses seeking to offset their own emissions -- a technology still in its commercial infancy that received a boost thanks to tax credits included in the climate package President Biden signed into law last month. The company also plans to use the gas to squeeze more oil from underground.</p><p>Then, in late February of this year, Russia invaded Ukraine.</p><p>The war propelled oil prices to their highest level in years, with Brent crude oil topping $120 in March, translating into a windfall for oil companies. In the first quarter of the year, Occidental made roughly $4.9 billion in profit, its highest quarterly earnings on record, according to S&amp;P Capital IQ.</p><p>The company now holds the most acreage across the Permian, with leases covering about 2.8 million net acres, according to data firm Enverus. Its domestic oil output in the second quarter of this year was up roughly 80% compared with before it acquired Anadarko, Occidental reported.</p><p>As Occidental&#39;s stock rose above $50 a share in March, Mr. Icahn sold his common stake. The investor&#39;s two representatives on Occidental&#39;s board also resigned, as was required by the settlement agreement. Mr. Icahn made over $1.5 billion on his investment and still holds some warrants, according to public filings and people familiar with the matter.</p><p>As Mr. Icahn got out of the stock, Mr. Buffett bought in. In May, Berkshire reported it had purchased roughly $8 billion worth of shares.</p><p>Mr. Icahn said that Mr. Buffett&#39;s investment could be ill-timed. &#34;I respect Buffett a lot but I think buying this stock at this level is obviously not like buying warrants at $3,&#34; he said. &#34;I made a great deal of money on my investment in Occidental, especially with the warrants, and activism worked in that regard,&#34; he said.</p><p>Ms. Hollub and Mr. Buffett have developed a personal relationship and the two talk periodically, said Mr. Vangolen. Ms. Hollub said in an interview she had no personal relationship with Mr. Icahn when he was an investor, and that he turned out not to be the kind of long-term shareholder the company prizes.</p><p>Mr. Icahn&#39;s retort: &#34;She came very close to not being a long-term shareholder also, because her ill-timed investment put the company on the brink of bankruptcy.&#34;</p></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>How a CEO Rescued a Big Bet on Big Oil; \"There Were a Lot of Doubters\"</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\">\nHow a CEO Rescued a Big Bet on Big Oil; \"There Were a Lot of Doubters\"\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\">2022-09-11 09:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><img src=\"https://static.tigerbbs.com/be5cb2e717152d9e61504d0803ac3654\" tg-width=\"1278\" tg-height=\"1278\" referrerpolicy=\"no-referrer\"/>Occidental Petroleum Corp. entered the thick of the pandemic among the worst prepared of its U.S. oil-and-gas peers. Struggling with debt from an ill-timed $38 billion deal, Chief ExecutiveVicki Hollubwas fending off activist investorCarl Icahn, who controlled two board seats.</p><p>Two years later, the company has emerged as the top performer in the S&amp;P 500, and Ms. Hollub has traded Mr. Icahn, who sold all of his Occidental shares in March, for Warren Buffett, whoseBerkshire Hathaway Inc. now owns more than 20% of the company.</p><p>It was touch and go for a time. Months before the pandemic took hold, she implemented widespread layoffs. To stave off bankruptcy after oil prices collapsed in 2020, she slashed spending and nearly eliminated Occidental’s once-sacrosanct dividend—“the biggest and toughest decision that I made and I’ve ever made in my career,” she said in an interview.</p><p>Her 2019 acquisition of rival Anadarko Petroleum Corp., which Mr. Icahn called a “disaster,” has given Occidental the dominant position in the largest U.S. shale-oil field, the Permian Basin. Lifted by climbing oil prices, Occidental generated a record $4.35 billion in free cash flow and $3.7 billion in profit in the second quarter. It has cut its debt to $22 billion from nearly $36 billion a year ago.</p><p><img src=\"https://static.tigerbbs.com/61847881fba325e1dc5c7ed3280e29db\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/>Oil-and-gas producers have reported banner profits this year, even as a global energy crisis sparked by Russia’s invasion of Ukraine has threatened to derail European industries, left the U.K. facing its worst economic crisis since the 1970s and forced the Netherlands, Germany and India to rely heavily on coal to make up for a dearth of natural gas.</p><p>But Ms. Hollub, the first woman to be CEO of a major U.S. oil company, says she doesn’t feel vindicated. “I just feel relief,” she said. “There were a lot of doubters.”</p><p>Mr. Buffett has publicly lauded Ms. Hollub’s leadership. After she detailed the company’s future plans for analysts in February, Mr. Buffett told his own shareholders, “What Vicki Hollub was saying made nothing but sense.” Last month, Berkshire received regulatory approval to buy up to 50% of the oil company’s shares, spurring speculation it might seek to purchase all of Occidental.</p><p>Mr. Buffett declined to comment for this story. Ms. Hollub said she has “tremendous respect” for Mr. Buffett, adding that “he will be very beneficial for us as we go forward.” She declined to discuss the possibility of Berkshire purchasing the entire company.</p><p>Some former investors remain skeptical, saying a spike in oil prices has rescued the company, not Ms. Hollub.</p><p>“I have nothing personal against Vicki,” Mr. Icahn said in an interview. “However, that will never change my mind that she should not have made a bet-the-company investment by way of overpaying for Anadarko.”</p><p>A University of Alabama graduate, Ms. Hollub joined Occidental in 1982 and soon found herself running operations in Russia and Venezuela. She almost got laid off in 2003, butTodd Stevens, an executive at the company who had followed her rise, arranged for her to lead a team evaluating acreage in Colorado, said Mr. Stevens, who has since left.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bf58d7d767a23cfb352e019504bafa44\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>Equipment used to process carbon dioxide, crude oil and water at an Occidental Petroleum project in Hobbs, N.M.PHOTO:ERNEST SCHEYDER/REUTERS</span></p><p>Ms. Hollub became known as a hard worker, once spending three weeks straightening out operations at a new gas field’s first well, said Donnie Enns, a former geophysicist who worked under her. “Nobody worked harder than Vicki,” he said. She also found time to run an office March Madness basketball pool.</p><p>After being named CEO of the company in 2016, Ms. Hollub departed from her predecessor’s preference for low-risk, “bolt-on” transactions. A little over a year into the job, she started courting Anadarko, an oil producer of comparable size, for a deal.</p><p>She outflanked largerChevronCorp. in a bidding war that riveted the oil patch, offering $5 billion more than her rival for Anadarko and its prized assets in the epicenter of U.S. shale production. Yet victory came at a steep cost.</p><p>Some of Occidental’s largest shareholders decried the deal—especially a pricey loan from Mr. Buffett in the form of $10 billion in preferred stock paying 8% annually in dividends, or $800 million. Ms. Hollub negotiated the funding at the eleventh hour after meeting with the financier in Omaha, Neb. Mr. Icahn, who first bought stock as the Anadarko bidding war came to a close, wrote to Occidental shareholders that “Buffett figuratively took her to the cleaners.”</p><p>Ms. Hollub acknowledged the deal damaged the company’s standing with some investors. “I was never offended at the fact that our shareholders were skeptical,” she said.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58cf5cd81991220ec1f42821cee2554b\" tg-width=\"639\" tg-height=\"959\" referrerpolicy=\"no-referrer\"/><span>Vicki Hollub said she never doubted the wisdom of the Anadarko acquisition.PHOTO:ANGELA OWENS/THE WALL STREET JOURNAL</span></p><p>But she said she never doubted the wisdom of the acquisition, even after it sparked an investor revolt that created an opportunity for Mr. Icahn.</p><p>Central to Ms. Hollub’s strategy was building on Occidental’s already-large position in the oil-rich Permian of West Texas and New Mexico. She believed purchasing and drilling a huge swath of new acreage, much of it near the company’s existing assets, would give Occidental economies of scale and allow it to outperform Permian rivals. Occidental, she said, was one of the most technologically advanced drillers in the field; it would turn Anadarko’s undeveloped assets into oil-gushing wells.</p><p>By the end of 2019, the oil producer said it was making progress on its merger goals. It had divested itself of more than $6 billion in assets, including stakes in a liquefied natural gas export project in Mozambique and in a Houston-based pipeline company. Occidental recorded single-day and monthly production records in the Permian and other oil fields. Occidental announced its 182nd consecutive quarterly dividend, which Ms. Hollub noted at the time that “few other companies can claim.”</p><p>Ms. Hollub believed the merger was on track, but investors remained skeptical. From the time of Occidental’s counteroffer for Anadarko in April 2019 to February 2020 Occidental’s stock fell around 35%. Then the global pandemic took hold.</p><p>As billions of people around the world began to lock down, demand for oil plummeted. In the spring, oil prices reached historic lows, briefly turning negative for the first time ever as traders paid counterparties to take oil off their hands. Falling demand for their product hammered oil-and-gas companies, forcing dozens into bankruptcy.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9090db9eab1ac4c91bd5b1b441d26206\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>Gasoline prices sank in April 2020 after the global pandemic caused oil prices to drop below zero.PHOTO:FREDERIC J. BROWN/AGENCE FRANCE-PRESSE/GETTY IMAGES</span></p><p>Every day, Ms. Hollub would drive to Occidental’s Houston offices in her red Jeep Wrangler, said Glenn Vangolen, a former senior vice president at Occidental and close adviser to the CEO. Mondays and Fridays, she and her lieutenants would mask up and gather in a conference room to discuss operations. Her office was spartan—a mostly bare room, except for a TV playing business news on mute, and a plush stuffed version of a costumed elephant, the Alabama Crimson Tide’s mascot, Mr. Vangolen said.</p><p>Occidental was in a worse situation than many of its peers: At the end of 2019, its long-term debt of about $39 billion was equivalent to roughly four times its earnings, excluding interest, taxes and other accounting items, quadruple the ratio from a year earlier, S&amp;P Capital IQ data show. The divestitures it had planned on to pay it down were no longer viable as assets were losing value.</p><p>Ms. Hollub said that Occidental made a lot of the difficult decisions before the pandemic to mitigate the downside risks of the Anadarko acquisition, including hedging a portion of its oil production and bumping its line of credit to $5 billion. But the company still faced painful months ahead as it had barely enough cash on hand to meet debt maturities coming due in 2021 and was later forced to hire restructuring advisers.</p><p>Ms. Hollub moved to cut her executives’ salaries—including her own by 81%—offer employees voluntary buy-outs, slash expenses in the oil patch and cancel employee perks. She also cut the dividend, which rankled investors.</p><p>Mr. Icahn amplified his calls for Ms. Hollub’s ouster and said he would seek to replace the entire board of directors at the company’s annual meeting. As the oil producer’s stock plunged to under $10 from around $45 before the pandemic, Mr. Icahn—facing paper losses of about $1 billion—doubled down on his shares, boosting his stake to roughly 10% from about 2%.</p><p>After a price war between Russia and Saudi Arabia caused oil prices to plunge below $25 a barrel in March, Occidental reached a settlement with Mr. Icahn. The deal gave board seats to two of his deputies and added another director, required Occidental to create an oversight committee that must be informed of any offers to acquire the company or its assets, and replaced the board chairman withStephen Chazen, Ms. Hollub’s predecessor as CEO.</p><p>Mr. Icahn’s camp pushed for Occidental to give its shareholders warrants that could allow them to buy discounted shares in the future. After he prevailed, Mr. Icahn received roughly 11 million warrants initially and bought more when they were worth around $3.</p><p>Mr. Vangolen said Mr. Icahn’s demand for warrants was part of the investor’s “raider playbook,” which he described as “trying to extract as much cash out of the business as you can before you bail.”</p><p>Mr. Icahn said that all the shareholders who rode the stock down deserved something for their loyalty.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3af2c050a88b00dd9846de958b65be1b\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>A crude oil pump jack in the Permian Basin in Loving County, Texas.PHOTO:ANGUS MORDANT/REUTERS</span></p><p>As the pandemic dragged on, Occidental logged a roughly $14.8 billion loss for 2020, its largest on record, according to S&amp;P Capital IQ data. Still, it continued to whittle down its mammoth debt, closing around $2.5 billion in asset sales at the end of 2020. Anadarko’s assets, meanwhile, were starting to shine, with production in the Permian reaching the high end of company estimates.</p><p>Even as Ms. Hollub wrestled with Mr. Icahn, she was building a relationship with Mr. Buffett.</p><p>In 2020, she traveled to Omaha to discuss Occidental&#39;s long-term strategy with Mr. Buffett, according to a person familiar with the meeting. The investor expressed a strong interest in the company&#39;s goal to become a leader in carbon capture, this person said.</p><p>Occidental says it has no plans to stop producing oil but also aims to be a leader in &#34;carbon management.&#34; It wants to develop 70 plants by 2035 to suck carbon dioxide out of the air, store it in the ground and sell carbon credits to businesses seeking to offset their own emissions -- a technology still in its commercial infancy that received a boost thanks to tax credits included in the climate package President Biden signed into law last month. The company also plans to use the gas to squeeze more oil from underground.</p><p>Then, in late February of this year, Russia invaded Ukraine.</p><p>The war propelled oil prices to their highest level in years, with Brent crude oil topping $120 in March, translating into a windfall for oil companies. In the first quarter of the year, Occidental made roughly $4.9 billion in profit, its highest quarterly earnings on record, according to S&amp;P Capital IQ.</p><p>The company now holds the most acreage across the Permian, with leases covering about 2.8 million net acres, according to data firm Enverus. Its domestic oil output in the second quarter of this year was up roughly 80% compared with before it acquired Anadarko, Occidental reported.</p><p>As Occidental&#39;s stock rose above $50 a share in March, Mr. Icahn sold his common stake. The investor&#39;s two representatives on Occidental&#39;s board also resigned, as was required by the settlement agreement. Mr. Icahn made over $1.5 billion on his investment and still holds some warrants, according to public filings and people familiar with the matter.</p><p>As Mr. Icahn got out of the stock, Mr. Buffett bought in. In May, Berkshire reported it had purchased roughly $8 billion worth of shares.</p><p>Mr. Icahn said that Mr. Buffett&#39;s investment could be ill-timed. &#34;I respect Buffett a lot but I think buying this stock at this level is obviously not like buying warrants at $3,&#34; he said. &#34;I made a great deal of money on my investment in Occidental, especially with the warrants, and activism worked in that regard,&#34; he said.</p><p>Ms. Hollub and Mr. Buffett have developed a personal relationship and the two talk periodically, said Mr. Vangolen. Ms. Hollub said in an interview she had no personal relationship with Mr. Icahn when he was an investor, and that he turned out not to be the kind of long-term shareholder the company prizes.</p><p>Mr. Icahn&#39;s retort: &#34;She came very close to not being a long-term shareholder also, because her ill-timed investment put the company on the brink of bankruptcy.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","OXY":"西方石油","BK4534":"瑞士信贷持仓","BK4176":"多领域控股","BK4581":"高盛持仓","BK4201":"综合性石油与天然气企业","BK4550":"红杉资本持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BRK.A":"伯克希尔"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2266817381","content_text":"Occidental Petroleum Corp. entered the thick of the pandemic among the worst prepared of its U.S. oil-and-gas peers. Struggling with debt from an ill-timed $38 billion deal, Chief ExecutiveVicki Hollubwas fending off activist investorCarl Icahn, who controlled two board seats.Two years later, the company has emerged as the top performer in the S&P 500, and Ms. Hollub has traded Mr. Icahn, who sold all of his Occidental shares in March, for Warren Buffett, whoseBerkshire Hathaway Inc. now owns more than 20% of the company.It was touch and go for a time. Months before the pandemic took hold, she implemented widespread layoffs. To stave off bankruptcy after oil prices collapsed in 2020, she slashed spending and nearly eliminated Occidental’s once-sacrosanct dividend—“the biggest and toughest decision that I made and I’ve ever made in my career,” she said in an interview.Her 2019 acquisition of rival Anadarko Petroleum Corp., which Mr. Icahn called a “disaster,” has given Occidental the dominant position in the largest U.S. shale-oil field, the Permian Basin. Lifted by climbing oil prices, Occidental generated a record $4.35 billion in free cash flow and $3.7 billion in profit in the second quarter. It has cut its debt to $22 billion from nearly $36 billion a year ago.Oil-and-gas producers have reported banner profits this year, even as a global energy crisis sparked by Russia’s invasion of Ukraine has threatened to derail European industries, left the U.K. facing its worst economic crisis since the 1970s and forced the Netherlands, Germany and India to rely heavily on coal to make up for a dearth of natural gas.But Ms. Hollub, the first woman to be CEO of a major U.S. oil company, says she doesn’t feel vindicated. “I just feel relief,” she said. “There were a lot of doubters.”Mr. Buffett has publicly lauded Ms. Hollub’s leadership. After she detailed the company’s future plans for analysts in February, Mr. Buffett told his own shareholders, “What Vicki Hollub was saying made nothing but sense.” Last month, Berkshire received regulatory approval to buy up to 50% of the oil company’s shares, spurring speculation it might seek to purchase all of Occidental.Mr. Buffett declined to comment for this story. Ms. Hollub said she has “tremendous respect” for Mr. Buffett, adding that “he will be very beneficial for us as we go forward.” She declined to discuss the possibility of Berkshire purchasing the entire company.Some former investors remain skeptical, saying a spike in oil prices has rescued the company, not Ms. Hollub.“I have nothing personal against Vicki,” Mr. Icahn said in an interview. “However, that will never change my mind that she should not have made a bet-the-company investment by way of overpaying for Anadarko.”A University of Alabama graduate, Ms. Hollub joined Occidental in 1982 and soon found herself running operations in Russia and Venezuela. She almost got laid off in 2003, butTodd Stevens, an executive at the company who had followed her rise, arranged for her to lead a team evaluating acreage in Colorado, said Mr. Stevens, who has since left.Equipment used to process carbon dioxide, crude oil and water at an Occidental Petroleum project in Hobbs, N.M.PHOTO:ERNEST SCHEYDER/REUTERSMs. Hollub became known as a hard worker, once spending three weeks straightening out operations at a new gas field’s first well, said Donnie Enns, a former geophysicist who worked under her. “Nobody worked harder than Vicki,” he said. She also found time to run an office March Madness basketball pool.After being named CEO of the company in 2016, Ms. Hollub departed from her predecessor’s preference for low-risk, “bolt-on” transactions. A little over a year into the job, she started courting Anadarko, an oil producer of comparable size, for a deal.She outflanked largerChevronCorp. in a bidding war that riveted the oil patch, offering $5 billion more than her rival for Anadarko and its prized assets in the epicenter of U.S. shale production. Yet victory came at a steep cost.Some of Occidental’s largest shareholders decried the deal—especially a pricey loan from Mr. Buffett in the form of $10 billion in preferred stock paying 8% annually in dividends, or $800 million. Ms. Hollub negotiated the funding at the eleventh hour after meeting with the financier in Omaha, Neb. Mr. Icahn, who first bought stock as the Anadarko bidding war came to a close, wrote to Occidental shareholders that “Buffett figuratively took her to the cleaners.”Ms. Hollub acknowledged the deal damaged the company’s standing with some investors. “I was never offended at the fact that our shareholders were skeptical,” she said.Vicki Hollub said she never doubted the wisdom of the Anadarko acquisition.PHOTO:ANGELA OWENS/THE WALL STREET JOURNALBut she said she never doubted the wisdom of the acquisition, even after it sparked an investor revolt that created an opportunity for Mr. Icahn.Central to Ms. Hollub’s strategy was building on Occidental’s already-large position in the oil-rich Permian of West Texas and New Mexico. She believed purchasing and drilling a huge swath of new acreage, much of it near the company’s existing assets, would give Occidental economies of scale and allow it to outperform Permian rivals. Occidental, she said, was one of the most technologically advanced drillers in the field; it would turn Anadarko’s undeveloped assets into oil-gushing wells.By the end of 2019, the oil producer said it was making progress on its merger goals. It had divested itself of more than $6 billion in assets, including stakes in a liquefied natural gas export project in Mozambique and in a Houston-based pipeline company. Occidental recorded single-day and monthly production records in the Permian and other oil fields. Occidental announced its 182nd consecutive quarterly dividend, which Ms. Hollub noted at the time that “few other companies can claim.”Ms. Hollub believed the merger was on track, but investors remained skeptical. From the time of Occidental’s counteroffer for Anadarko in April 2019 to February 2020 Occidental’s stock fell around 35%. Then the global pandemic took hold.As billions of people around the world began to lock down, demand for oil plummeted. In the spring, oil prices reached historic lows, briefly turning negative for the first time ever as traders paid counterparties to take oil off their hands. Falling demand for their product hammered oil-and-gas companies, forcing dozens into bankruptcy.Gasoline prices sank in April 2020 after the global pandemic caused oil prices to drop below zero.PHOTO:FREDERIC J. BROWN/AGENCE FRANCE-PRESSE/GETTY IMAGESEvery day, Ms. Hollub would drive to Occidental’s Houston offices in her red Jeep Wrangler, said Glenn Vangolen, a former senior vice president at Occidental and close adviser to the CEO. Mondays and Fridays, she and her lieutenants would mask up and gather in a conference room to discuss operations. Her office was spartan—a mostly bare room, except for a TV playing business news on mute, and a plush stuffed version of a costumed elephant, the Alabama Crimson Tide’s mascot, Mr. Vangolen said.Occidental was in a worse situation than many of its peers: At the end of 2019, its long-term debt of about $39 billion was equivalent to roughly four times its earnings, excluding interest, taxes and other accounting items, quadruple the ratio from a year earlier, S&P Capital IQ data show. The divestitures it had planned on to pay it down were no longer viable as assets were losing value.Ms. Hollub said that Occidental made a lot of the difficult decisions before the pandemic to mitigate the downside risks of the Anadarko acquisition, including hedging a portion of its oil production and bumping its line of credit to $5 billion. But the company still faced painful months ahead as it had barely enough cash on hand to meet debt maturities coming due in 2021 and was later forced to hire restructuring advisers.Ms. Hollub moved to cut her executives’ salaries—including her own by 81%—offer employees voluntary buy-outs, slash expenses in the oil patch and cancel employee perks. She also cut the dividend, which rankled investors.Mr. Icahn amplified his calls for Ms. Hollub’s ouster and said he would seek to replace the entire board of directors at the company’s annual meeting. As the oil producer’s stock plunged to under $10 from around $45 before the pandemic, Mr. Icahn—facing paper losses of about $1 billion—doubled down on his shares, boosting his stake to roughly 10% from about 2%.After a price war between Russia and Saudi Arabia caused oil prices to plunge below $25 a barrel in March, Occidental reached a settlement with Mr. Icahn. The deal gave board seats to two of his deputies and added another director, required Occidental to create an oversight committee that must be informed of any offers to acquire the company or its assets, and replaced the board chairman withStephen Chazen, Ms. Hollub’s predecessor as CEO.Mr. Icahn’s camp pushed for Occidental to give its shareholders warrants that could allow them to buy discounted shares in the future. After he prevailed, Mr. Icahn received roughly 11 million warrants initially and bought more when they were worth around $3.Mr. Vangolen said Mr. Icahn’s demand for warrants was part of the investor’s “raider playbook,” which he described as “trying to extract as much cash out of the business as you can before you bail.”Mr. Icahn said that all the shareholders who rode the stock down deserved something for their loyalty.A crude oil pump jack in the Permian Basin in Loving County, Texas.PHOTO:ANGUS MORDANT/REUTERSAs the pandemic dragged on, Occidental logged a roughly $14.8 billion loss for 2020, its largest on record, according to S&P Capital IQ data. Still, it continued to whittle down its mammoth debt, closing around $2.5 billion in asset sales at the end of 2020. Anadarko’s assets, meanwhile, were starting to shine, with production in the Permian reaching the high end of company estimates.Even as Ms. Hollub wrestled with Mr. Icahn, she was building a relationship with Mr. Buffett.In 2020, she traveled to Omaha to discuss Occidental's long-term strategy with Mr. Buffett, according to a person familiar with the meeting. The investor expressed a strong interest in the company's goal to become a leader in carbon capture, this person said.Occidental says it has no plans to stop producing oil but also aims to be a leader in \"carbon management.\" It wants to develop 70 plants by 2035 to suck carbon dioxide out of the air, store it in the ground and sell carbon credits to businesses seeking to offset their own emissions -- a technology still in its commercial infancy that received a boost thanks to tax credits included in the climate package President Biden signed into law last month. The company also plans to use the gas to squeeze more oil from underground.Then, in late February of this year, Russia invaded Ukraine.The war propelled oil prices to their highest level in years, with Brent crude oil topping $120 in March, translating into a windfall for oil companies. In the first quarter of the year, Occidental made roughly $4.9 billion in profit, its highest quarterly earnings on record, according to S&P Capital IQ.The company now holds the most acreage across the Permian, with leases covering about 2.8 million net acres, according to data firm Enverus. Its domestic oil output in the second quarter of this year was up roughly 80% compared with before it acquired Anadarko, Occidental reported.As Occidental's stock rose above $50 a share in March, Mr. Icahn sold his common stake. The investor's two representatives on Occidental's board also resigned, as was required by the settlement agreement. Mr. Icahn made over $1.5 billion on his investment and still holds some warrants, according to public filings and people familiar with the matter.As Mr. Icahn got out of the stock, Mr. Buffett bought in. In May, Berkshire reported it had purchased roughly $8 billion worth of shares.Mr. Icahn said that Mr. Buffett's investment could be ill-timed. \"I respect Buffett a lot but I think buying this stock at this level is obviously not like buying warrants at $3,\" he said. \"I made a great deal of money on my investment in Occidental, especially with the warrants, and activism worked in that regard,\" he said.Ms. Hollub and Mr. Buffett have developed a personal relationship and the two talk periodically, said Mr. Vangolen. Ms. Hollub said in an interview she had no personal relationship with Mr. Icahn when he was an investor, and that he turned out not to be the kind of long-term shareholder the company prizes.Mr. Icahn's retort: \"She came very close to not being a long-term shareholder also, because her ill-timed investment put the company on the brink of bankruptcy.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":50,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162858767,"gmtCreate":1624058365359,"gmtModify":1703827668244,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Y","listText":"Y","text":"Y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/162858767","repostId":"2144774740","repostType":4,"repost":{"id":"2144774740","kind":"highlight","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1624030096,"share":"https://ttm.financial/m/news/2144774740?lang=&edition=fundamental","pubTime":"2021-06-18 23:28","market":"us","language":"en","title":"Adobe Getting Lift From Economic Reopening Post-Pandemic","url":"https://stock-news.laohu8.com/highlight/detail?id=2144774740","media":"Investors","summary":"Software giant Adobe is benefiting as the economy reopens following the Covid-19 pandemic, a senior executive says.","content":"<p>Software giant <b><a href=\"https://laohu8.com/S/ADBE\">Adobe</a></b> is benefiting as the economy reopens as the Covid-19 pandemic wanes, a senior executive says. The company's beat-and-raise quarterly report provided proof of that. ADBE stock jumped on Friday.</p>\n<p>The maker of digital media and marketing software late Thursday reported fiscal second-quarter earnings that easily topped expectations. Adobe also guided above views for the current quarter.</p>\n<p>The San Jose, Calif.-based company earned an adjusted $3.03 a share on sales of $3.84 billion in the quarter ended June 4. On a year-over-year basis, Adobe earnings rose 24% while sales climbed 23%.</p>\n<p>For the current quarter, Adobe expects to earn an adjusted $3 a share, up 17%, on sales of $3.88 billion, up 20%.</p>\n<h2>ADBE Stock Rises After Earnings Report</h2>\n<p>In morning trading on the stock market today, ADBE stock advanced 2.2%, near 563.35. Earlier in the session, ADBE stock notched a record high 570.</p>\n<p>\"All three of our businesses — Creative Cloud, Document Cloud and <a href=\"https://laohu8.com/S/EXP.AU\">Experience</a> Cloud — just killed it this quarter with excellent performance,\" Chief Financial Officer John Murphy told Investor's Business Daily. \"Content creation and customer experience engagement in personalized ways are resonating across all of our businesses. And it's really driving the momentum and acceleration in the business.\"</p>\n<p>That momentum will continue in the company's seasonally weaker fiscal third quarter, Murphy said. The current quarter includes the summer months of June, July and August.</p>\n<p>\"The macroeconomic stability is giving a lot of enterprises confidence to invest again,\" Murphy said. \"Companies are prioritizing digital transformation.\"</p>\n<p>The reopening of the economy and return to offices after the pandemic should provide a tailwind for Adobe's business, he said.</p>\n<h2>Analysts Raise Price Targets On Adobe Stock</h2>\n<p>At least 15 Wall Street analysts raised their price targets on ADBE stock after the earnings report.</p>\n<p>Mizuho Securities analyst Gregg Moskowitz reiterated his buy rating on ADBE stock and upped his price target to 640 from 600.</p>\n<p>\"Adobe's expansive portfolio of software solutions has made it the gold standard in content creation, consumption, and collaboration,\" Moskowitz said in a note to clients. \"Adobe is very well positioned to benefit from digital transformation with its comprehensive end-to-end offering that differentiates it from competitors.\"</p>\n<p>On June 11, ADBE stock broke out of a 40-week&nbsp;consolidation period&nbsp;at a&nbsp;buy point&nbsp;of 536.98, according to&nbsp;IBD MarketSmith charts.</p>\n<p>However, IBD Leaderboard analysis offered investors an earlier buy point of 525.54 from a cup base within the larger consolidation pattern.</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>Adobe Getting Lift From Economic Reopening Post-Pandemic</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\">\nAdobe Getting Lift From Economic Reopening Post-Pandemic\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/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time\">2021-06-18 23:28</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Software giant <b><a href=\"https://laohu8.com/S/ADBE\">Adobe</a></b> is benefiting as the economy reopens as the Covid-19 pandemic wanes, a senior executive says. The company's beat-and-raise quarterly report provided proof of that. ADBE stock jumped on Friday.</p>\n<p>The maker of digital media and marketing software late Thursday reported fiscal second-quarter earnings that easily topped expectations. Adobe also guided above views for the current quarter.</p>\n<p>The San Jose, Calif.-based company earned an adjusted $3.03 a share on sales of $3.84 billion in the quarter ended June 4. On a year-over-year basis, Adobe earnings rose 24% while sales climbed 23%.</p>\n<p>For the current quarter, Adobe expects to earn an adjusted $3 a share, up 17%, on sales of $3.88 billion, up 20%.</p>\n<h2>ADBE Stock Rises After Earnings Report</h2>\n<p>In morning trading on the stock market today, ADBE stock advanced 2.2%, near 563.35. Earlier in the session, ADBE stock notched a record high 570.</p>\n<p>\"All three of our businesses — Creative Cloud, Document Cloud and <a href=\"https://laohu8.com/S/EXP.AU\">Experience</a> Cloud — just killed it this quarter with excellent performance,\" Chief Financial Officer John Murphy told Investor's Business Daily. \"Content creation and customer experience engagement in personalized ways are resonating across all of our businesses. And it's really driving the momentum and acceleration in the business.\"</p>\n<p>That momentum will continue in the company's seasonally weaker fiscal third quarter, Murphy said. The current quarter includes the summer months of June, July and August.</p>\n<p>\"The macroeconomic stability is giving a lot of enterprises confidence to invest again,\" Murphy said. \"Companies are prioritizing digital transformation.\"</p>\n<p>The reopening of the economy and return to offices after the pandemic should provide a tailwind for Adobe's business, he said.</p>\n<h2>Analysts Raise Price Targets On Adobe Stock</h2>\n<p>At least 15 Wall Street analysts raised their price targets on ADBE stock after the earnings report.</p>\n<p>Mizuho Securities analyst Gregg Moskowitz reiterated his buy rating on ADBE stock and upped his price target to 640 from 600.</p>\n<p>\"Adobe's expansive portfolio of software solutions has made it the gold standard in content creation, consumption, and collaboration,\" Moskowitz said in a note to clients. \"Adobe is very well positioned to benefit from digital transformation with its comprehensive end-to-end offering that differentiates it from competitors.\"</p>\n<p>On June 11, ADBE stock broke out of a 40-week&nbsp;consolidation period&nbsp;at a&nbsp;buy point&nbsp;of 536.98, according to&nbsp;IBD MarketSmith charts.</p>\n<p>However, IBD Leaderboard analysis offered investors an earlier buy point of 525.54 from a cup base within the larger consolidation pattern.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ADBE":"Adobe"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144774740","content_text":"Software giant Adobe is benefiting as the economy reopens as the Covid-19 pandemic wanes, a senior executive says. The company's beat-and-raise quarterly report provided proof of that. ADBE stock jumped on Friday.\nThe maker of digital media and marketing software late Thursday reported fiscal second-quarter earnings that easily topped expectations. Adobe also guided above views for the current quarter.\nThe San Jose, Calif.-based company earned an adjusted $3.03 a share on sales of $3.84 billion in the quarter ended June 4. On a year-over-year basis, Adobe earnings rose 24% while sales climbed 23%.\nFor the current quarter, Adobe expects to earn an adjusted $3 a share, up 17%, on sales of $3.88 billion, up 20%.\nADBE Stock Rises After Earnings Report\nIn morning trading on the stock market today, ADBE stock advanced 2.2%, near 563.35. Earlier in the session, ADBE stock notched a record high 570.\n\"All three of our businesses — Creative Cloud, Document Cloud and Experience Cloud — just killed it this quarter with excellent performance,\" Chief Financial Officer John Murphy told Investor's Business Daily. \"Content creation and customer experience engagement in personalized ways are resonating across all of our businesses. And it's really driving the momentum and acceleration in the business.\"\nThat momentum will continue in the company's seasonally weaker fiscal third quarter, Murphy said. The current quarter includes the summer months of June, July and August.\n\"The macroeconomic stability is giving a lot of enterprises confidence to invest again,\" Murphy said. \"Companies are prioritizing digital transformation.\"\nThe reopening of the economy and return to offices after the pandemic should provide a tailwind for Adobe's business, he said.\nAnalysts Raise Price Targets On Adobe Stock\nAt least 15 Wall Street analysts raised their price targets on ADBE stock after the earnings report.\nMizuho Securities analyst Gregg Moskowitz reiterated his buy rating on ADBE stock and upped his price target to 640 from 600.\n\"Adobe's expansive portfolio of software solutions has made it the gold standard in content creation, consumption, and collaboration,\" Moskowitz said in a note to clients. \"Adobe is very well positioned to benefit from digital transformation with its comprehensive end-to-end offering that differentiates it from competitors.\"\nOn June 11, ADBE stock broke out of a 40-week consolidation period at a buy point of 536.98, according to IBD MarketSmith charts.\nHowever, IBD Leaderboard analysis offered investors an earlier buy point of 525.54 from a cup base within the larger consolidation pattern.","news_type":1},"isVote":1,"tweetType":1,"viewCount":250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373620720,"gmtCreate":1618843394660,"gmtModify":1704715793074,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/373620720","repostId":"1129471770","repostType":4,"isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355001309,"gmtCreate":1617009784801,"gmtModify":1704800773986,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/355001309","repostId":"2123879231","repostType":4,"repost":{"id":"2123879231","kind":"live","pubTimestamp":1617008603,"share":"https://ttm.financial/m/news/2123879231?lang=&edition=fundamental","pubTime":"2021-03-29 17:03","market":"us","language":"en","title":"British used car dealer Cazoo is going public in the U.S. via $7 billion SPAC deal","url":"https://stock-news.laohu8.com/highlight/detail?id=2123879231","media":"CNBC","summary":"Cazoo said it would combine with AJAX I, a U.S. blank-check firm founded by Och, in a deal valuing t","content":"<div>\n<p>Cazoo said it would combine with AJAX I, a U.S. blank-check firm founded by Och, in a deal valuing the business at $7 billion.Founder Alex Chesterman will stay on as Cazoo’s CEO following the deal, ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/29/british-used-car-dealer-cazoo-is-going-public-in-the-us-via-spac.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>British used car dealer Cazoo is going public in the U.S. via $7 billion SPAC deal</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\">\nBritish used car dealer Cazoo is going public in the U.S. via $7 billion SPAC deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-29 17:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/29/british-used-car-dealer-cazoo-is-going-public-in-the-us-via-spac.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cazoo said it would combine with AJAX I, a U.S. blank-check firm founded by Och, in a deal valuing the business at $7 billion.Founder Alex Chesterman will stay on as Cazoo’s CEO following the deal, ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/29/british-used-car-dealer-cazoo-is-going-public-in-the-us-via-spac.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/03/29/british-used-car-dealer-cazoo-is-going-public-in-the-us-via-spac.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"2123879231","content_text":"Cazoo said it would combine with AJAX I, a U.S. blank-check firm founded by Och, in a deal valuing the business at $7 billion.Founder Alex Chesterman will stay on as Cazoo’s CEO following the deal, while AJAX I’s Daniel Och is joining the firm’s board.The firm is expected to raise $1.6 billion, including $805 million in a cash trust from the SPAC and a further $800 million from private investors.LONDON — Cazoo announced Monday that it will go public through a merger with billionaire investor Daniel Och’s special purpose acquisition company.Cazoo, founded just three years ago, is a used car marketplace based in the U.K. The company sells and delivers its cars in Britain and continental Europe. Its competitors range fromAuto TradertoCarvana.The company said it would combine with AJAX I, a U.S. blank-check firm founded by Och, in a deal valuing the business at $7 billion. Founder Alex Chesterman will stay on as Cazoo’s CEO following the SPAC merger, while Och is joining the firm’s board.“This announcement is another major milestone in our continued drive to transform the way people buy cars across Europe,” Chesterman said in a statement Monday.“We have created the most comprehensive and fully integrated offering in the largest retail sector which currently has very low digital penetration.”What is a SPAC?SPACs are shell companies that are created with the sole purpose of raising funds to acquire an existing private company, so that the target firm can bypass the traditional initial public offering (IPO) process.They’ve become a hot investment vehicle on Wall Street, with SPACs in the U.S. having raised $87.9 billion so far in 2021, already exceeding the total issuance in all of last year.Once the deal closes, Cazoo will be traded publicly on the New York Stock Exchange, dealing a blow to London which is aiming to attract more high-growth tech companies to its stock exchange.Europe has largely missed out on the SPAC boom, so far. But there aregrowing signs of the trendemerging in the continent, with Amsterdam attracting a number of SPAC IPOs and London looking to relax stock listing rules to accommodate U.S.-structured blank-check companies.Cazoo is expected to raise $1.6 billion from the deal with AJAX I, including $805 million in a cash trust from the SPAC and a further $800 million from private investors.The latter is being led by AJAX’s sponsors and D1 Capital Partners, with additional backing from Altimeter, funds managed by BlackRock, Morgan Stanley’s Counterpoint Global fund, Fidelity and Abu Dhabi sovereign wealth fund Mubadala.Online shiftCazoo aims to fill an Amazon-shaped gap in the automotive industry. Online sales still account for a tiny slice of the overall market globally but are on the rise as e-commerce has gotten a boost from the coronavirus pandemic.Cazoo had an annual revenue run rate of more than $600 million in the first quarter. It expects sales to near $1 billion in 2021, quadrupling year-on-year. The company believes Europe’s used car market is worth $700 billion, with just 2% of sales taking place online.Used car sales, in particular, have gotten a boost from the pandemic. Carvana, which operates a similar model to Cazoo, has seen its share price increased fivefold in the last 12 months with investors viewing it as the “Amazon of cars.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9042467996,"gmtCreate":1656515134515,"gmtModify":1676535843662,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Y","listText":"Y","text":"Y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9042467996","repostId":"2247564800","repostType":4,"repost":{"id":"2247564800","kind":"highlight","pubTimestamp":1656512826,"share":"https://ttm.financial/m/news/2247564800?lang=&edition=fundamental","pubTime":"2022-06-29 22:27","market":"us","language":"en","title":"Tesla: This Investment Is Not For The Faint-Hearted","url":"https://stock-news.laohu8.com/highlight/detail?id=2247564800","media":"seekingalpha","summary":"SummaryTesla is the world’s leading electric vehicle manufacturer.The company’s shares are down more than 40% from their 52-week high, which in the current environment is relatively resilient for expe","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Tesla is the world’s leading electric vehicle manufacturer.</li><li>The company’s shares are down more than 40% from their 52-week high, which in the current environment is relatively resilient for expensive tech stocks.</li><li>The future of this business is somewhat shrouded in mystery, with CEO Elon Musk having a habit of overpromising and underdelivering.</li><li>Despite this, Tesla is at the forefront of a shift to electrification, and I for one can get behind its mission to “accelerate the world’s transition to sustainable energy”.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/18a8ddcfd306d6221eb23ad49f4e085f\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\"/><span>MikeMareen/iStock Editorial via Getty Images</span></p><p><b>Investment Thesis</b></p><blockquote>Reach for the stars, and if you don&#39;t grab &#39;em, at least you&#39;ll fall on top of the world</blockquote><p>I hope that everyone here recognizes the lyrical genius of Mr. Worldwide himself, especially this line is taken from Pitbull’s songGive Me Everything.</p><p>I can’t help but feel like CEO (sorry, Technoking) of Tesla, Inc. (NASDAQ:NASDAQ:TSLA) Elon Musk found himself inspired by these lyrics. He certainly has a habit of reaching for the stars – whether it&#39;s quite literally thanks to SpaceX, or the fact that he has a habit of making wild promises &amp; setting goals that go far beyond the realms of &#34;ambitious.&#34;</p><p>Yet Mr. Musk has found himself falling on top of the world, as Tesla has had a fantastic few years and continues to make impressive progress on full self-driving. Tesla continues to reach for the stars, but will they just come crashing down to earth? I put the company through my investing framework to find out.</p><p><b>Business Overview</b></p><p>Tesla has pioneered electric vehicle technology since its inception almost 20 years ago, and the company appears to have reached an inflection point over the past 5 years – moving from the brink of bankruptcy in 2018 to a trillion dollar company in 2021.</p><p>Tesla is primarily an automotive company right now, and it has four car models:</p><ul><li>Model S: a 4-door, high performance sedan</li><li>Model 3: a 4-door, mid-size sedan designed for the mass-market</li><li>Model X: a mid-size, high-performance SUV</li><li>Model Y: a company SUV built on the Model 3 platform</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a9a52b2206e73300b606f427914d8d63\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"/><span>Tesla</span></p><p>The rollout of Tesla’s Model 3 helped transform the business over the past 5 years. Its mass-market appeal and more affordable price point certainly turned Tesla from an up-and-coming EV company to a genuine automotive business. The below chart highlights just how important the Model 3 has been to Tesla over recent years.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/66070afd3a5ab98e954039f1c27b5802\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Statista</span></p><p>Tesla also offers additional products for energy generation and storage. These include Powerwall, a lithium-ion battery storage product designed for a home, Megapack, an energy storage solution for much larger facilities, and Solar Roof, which is well... a solar powered roof.</p><p>The company also has also invested in a significant amount of vertical integration and additional solutions, including but not limited to:</p><ul><li>In-house developed battery and powertrain technology</li><li>Self-Driving technologies, with offerings such as Autopilot and FSD (Full self-driving).</li><li>A network of Tesla Superchargers, which offer high-speed EV charging for Tesla owners</li><li>A direct-to-consumer sales approach through its website, and an international network of company owned stores</li><li>An insurance product which was launched in California in 2019, and has expanded into more and more states</li></ul><p>It would be possible to do a dedicated article on every single <a href=\"https://laohu8.com/S/AONE.U\">one</a> of these additional solutions – but I don’t want to write a novel, at least not yet. That is before considering the future products that Tesla could potentially offer, such as the cybertruck, a network of robotaxis, and Elon Musk’s new favorite toy – the Optimus robot. Whilst I don’t expect all of these ideas to succeed, I do like to see a company with optionality, and Tesla has this in abundance.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/23f883f28e00544dd09c773e389364f9\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>The Optimus Robot (Tesla)</span></p><p><b>Economic Moats</b></p><p>With every business, I look to see if there are any durable competitive advantages (aka economic moats) that will help the company continue to thrive whilst protecting itself from competition. Right now, I believe that Tesla has a number of competitive advantages.</p><p>The first moat worth highlighting is the network effect that Tesla has. Its vehicles are substantially more technologically advanced and interconnected than those of the incumbent manufacturers, and as such Tesla is able to generate a wealth of data from every mile that is driven.</p><p>This has given them a lead in autonomous driving, as the company has been able to analyze the ever-growing masses of data received from its FSD programs, following which they are able to iterate and rollout improved versions. Tesla is still yet to completely crack full self-driving, but once (or if) it does, it will be transformational for both the company and the world. The below quote from CEO Musk clearly shows his excitement combined with an awareness that this has been a long time coming, yet has never arrived:</p><blockquote>Well, with respect to full self-driving, of any technology development I’ve ever been involved in, I’ve never really seen more kind of false dawns or where it seems like we’re going to break through, but we don’t, as I’ve seen in full self-driving. And ultimately, what it comes down to is that to solve full self-driving, you actually have to solve real-world artificial intelligence, which is -- which nobody has solved. The whole road system is made for biological neural nets and eyes. And so, actually, when you think about it, in order to solve for full self-driving, we have to solve neural nets and cameras to a degree of capability that is on par with or really exceeds humans.</blockquote><blockquote>And I think we will achieve that this year. The best way to reach your own assessment is to join the Tesla full self-driving beta program where we have over 100,000 people right now enrolled in that program, and we expect to broaden that significantly this year. So, that’s my recommendation, is join the full self-driving beta program and experience it for yourself and take note of the rate of improvement with every release. And we put out a new release roughly every two weeks. And you’ll see a little bit of two steps forward, one step back. But overall, the rate of improvement is incredibly quick.</blockquote><p>So, Musk thinks FSD will be achieved this year – I’m sure he’s never said that before…</p><p>Regardless, the amount of data that Tesla has been able to obtain for FSD is unmatched by competitors, and the network effect is this: more data leads to improved FSD, improved FSD leads to more customers buying Teslas and using FSD, more customers using FSD results in more data, and more data leads to improved FSD. Humans have been trying to crack autonomous driving for a long time, but this network effect may well provide the best opportunity yet.</p><p>Another network effect that I think is more realistic &amp; sometimes overlooked is with insurance, probably because it’s not as exciting as the idea of robotaxis. Yet it is a similar story to the one above; Tesla has a very connected network of cars with tons of data, and this should enable them to offer data-driven insurance to customers that ends up being increasingly accurate as this network grows.</p><p>Tesla also benefits from some switching costs, and this is driven by their network of Superchargers. The company has worked hard to build out this network &amp; ensure that Tesla drivers can access these Superchargers easily – but, originally these were only available for Tesla drivers. This is clearly a switching cost, but Tesla has recently trialed opening up its Supercharger network to non-Tesla EVs. Whilst this reduces Tesla’s competitive advantage, I think it was always going to be eroded away over time as EV adoption increases – so perhaps this pilot is Tesla’s way of getting ahead of the curve?</p><p>Tesla also has the benefit of low-cost production, driven by their vertical integration on battery technology, direct-to-consumer sales, and the ultra-efficient Gigafactories. In fact, a view of their TTM operating margin compared to the incumbents is quite incredible – particularly when you consider that Tesla continues to be less established, and probably has even more room to expand these margins, particularly with the potential for additional software offerings.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d92e0d8f7493cae26081c74e9a6693b8\" tg-width=\"640\" tg-height=\"308\" referrerpolicy=\"no-referrer\"/><span>Tesla Q1&#39;22 Investor Presentation</span></p><p>The final moat that I’ll give Tesla credit for is their brand, and I don’t think anyone can argue with this – but just in case you want to, I’ll add in the below graphic comparing Tesla’s ad-spending per car sold back in 2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d7c781fe9080e9f67aa3ce0af810baa2\" tg-width=\"640\" tg-height=\"640\" referrerpolicy=\"no-referrer\"/><span>Visual Capitalist</span></p><p>This is another one of the many reasons why Tesla is able to churn out industry-leading margins.</p><p>Despite this lack of marketing, demand is still substantially outweighing supply, as per Elon Musk on the Q1’22 conference call:</p><blockquote>I should mention that it may seem like maybe we’re being unreasonable about increasing the prices of our vehicles, given that we had record profitability this quarter, but the wait list for our vehicles is quite long. And some of the vehicles that people will order, the wait list extends into next year. So, our prices of vehicles ordered now are really anticipating supplier and logistics cost growth that we’re aware of and believe will happen over the next 6 to 12 months. So, that’s why we have the price increases today because the car ordered today will arrive, in some cases, a year from now. So, we have a very long wait list, and we’re obviously not demand-limited. We are production-limited by -- very much production-limited.</blockquote><p>As you can also see, a strong brand gives pricing power &amp; this is just one other lever Tesla can pull in order to keep delivering strong financial results.</p><p>All in all, there are several powerful economic moats that should help Tesla protect itself from the ever-emerging competition.</p><p><b>Outlook</b></p><p>I’ll be honest, it’s pretty difficult to give an exact figure on the potential opportunity for Tesla – particularly if the company succeeds with its full self-driving, the robotaxi network, or even the Optimus robot. I think all any shareholder needs to know is that the opportunity is huge, and it’s only getting bigger.</p><p>If I take a step back and focus solely on the EV market, the opportunity remains both fast growing and enormous. According to Facts and Factors, the global electric vehicle market is expected to grow from a size of $185 billion in 2021 to $980 billion by 2028, implying a CAGR of 24.5% over that period – with Tesla leading the charge (geddit?).</p><p><b>Management</b></p><p>When it comes to fast-paced, innovative companies, I always aim to find founder-led businesses where inside ownership is high. I’ll start by highlighting that, even though Elon Musk is not the founder of Tesla, he certainly has his heart and soul in the business. If he walks like a founder and talks like a founder, I’m more than happy to consider Elon Musk a founder.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3d7ef06816853cbc8925c926acef1fb\" tg-width=\"640\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/><span>Tesla Q1&#39;22 Investor Presentation</span></p><p>I also want to invest in companies where leadership has skin-in-the-game, and Mr. Musk has this in abundance. This is a CEO who understands what skin-in-the-game truly means, as he shows in this 2019 tweet.</p><p>But do the numbers back that up? They certainly do, as Elon Musk owns ~25% of the company – no wonder he’s the richest man in the world!</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c94e4e6285ec0abd74a194a9cf51c478\" tg-width=\"640\" tg-height=\"95\" referrerpolicy=\"no-referrer\"/><span>Tesla 2021 Proxy Filing / Excel</span></p><p>I also like to take a quick look on Glassdoor to get an idea about the culture of a company, and Tesla gets somewhat underwhelming scores from the ~7,000 reviews left by employees. Any score over 4.0 is impressive, and Tesla fails to obtain this in any category. The score is particularly low on Work/Life Balance, which probably isn’t a surprise to anyone – whilst Elon Musk has undoubtedly driven the world forward with some of his companies, he also has a reputation of being tough to work for. He has incredibly high expectations from himself and those around him – unfortunately, this appears to have led to a culture within Tesla that I would not be too happy with as a shareholder.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5a0db0f879ac0ac11e4ff2c8e86530d\" tg-width=\"640\" tg-height=\"335\" referrerpolicy=\"no-referrer\"/><span>Glassdoor</span></p><p><b>Financials</b></p><p>Tesla’s financial profile over the last few years is something of a turnaround story, starting with their balance sheet. Back in 2018, the company had almost 3x as much debt as they had cash. Fast-forward to 2021, and that has completed flipped, with cash now representing more than 3x their debt. This has been driven by the company&#39;s ability to ramp up sales and bring in additional cash flow to shore up the balance sheet, as well as raising funds through additional share offerings. The bankruptcy risk to Tesla around 2018 was well documented, but clearly now it is a company in an extremely robust financial position that will serve it will for the future.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9fcd19b7e6b5ff0d24497bfe963e7db2\" tg-width=\"640\" tg-height=\"312\" referrerpolicy=\"no-referrer\"/><span>Tesla SEC Filings / Excel</span></p><p>Revenue growth has been lumpy over this period, at times impacted by the needed ramp up of its production facilities as well as the impact of lockdowns during the pandemic – but 2021 saw revenue absolutely soar as the world opened up again, and consumer spending took off like a rocket.</p><p>Margins and cash flow for this business are impressive, whichever way you look at it. The EBIT margin has seen astounding expansion for such a capital-intensive business, and similarly the ~$11.5 billion in operating cash flow in 2021 is incredibly strong. It makes you wonder how a business goes from the brink of bankruptcy to a cash generating machine in just a few years.</p><p><b>Valuation</b></p><p>As with all high growth, innovative companies, valuation is tough – and for a company who believe their future products to be life changing, it is even more difficult. I believe that my approach will give me an idea about whether Tesla is insanely overvalued or undervalued, but valuation is the final thing I look at - the quality of the business itself is far more important in the long run.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48ad05f01f439dfffcb8971c90609b3c\" tg-width=\"640\" tg-height=\"658\" referrerpolicy=\"no-referrer\"/><span>Tesla SEC Filings / Excel</span></p><p>My model assumes revenue growth of 50% for 2022, following Tesla&#39;s guidance of 50% YoY growth in vehicle deliveries driven by the continued strong demand and production ramp up despite the continued issues in Shanghai. I have then assumed a slowdown in revenue growth through to 2026. It’s perfectly reasonable to think that this is too conservative, however I would always prefer to be too conservative rather than too optimistic.</p><p>I have also assumed a gradual margin expansion as Tesla continues to benefit from its scale, and those investments in vertically integrated aspects of its business start to play out.</p><p>I assumed that shares outstanding will increase by 5% annually through to 2026. Tesla has a history of diluting shareholders, however I still think that this assumption is prudent – as Tesla continues to produce more cash, I doubt it will continue to dilute shareholders at a dramatic rate.</p><p>Finally, I’ve chosen a wide range of EV / FCF multiples for the low, medium, and high scenario. This represents my own uncertainty about the future of Tesla, the fact that it is priced for a lot of success, but also the fact that it could see success that is far beyond my imagination.</p><p>Put this all together, and my mid-range scenario implies an 11% CAGR of Tesla shares from today through to 2026.</p><p><b>Risks</b></p><p>There are a number of potential risks for Tesla, as my fellow Seeking Alpha highlights in this detailed article. I do think the approach is very &#34;glass half empty,&#34; but it is useful for potential shareholders to familiarize themselves with these risks.</p><p>In my eyes, there are a couple of main risks. First is competition – EVs are growing in popularity, and there are a number of new EV-specialist car manufacturers as well as the incumbents who are all coming to do battle with Tesla. Clearly, Tesla has a huge head start, but shareholders should keep an eye on any competitors who appear to be closing this gap.</p><p>The second risk primarily relates to China. Clearly there are geopolitical risks, and China is also one of the most competitive markets for electric vehicles – and, it’s likely to grow and be the largest. If Tesla is impacted by geopolitics, then it could suffer greatly. Just take a look at the below table of car sales over the past few years to see the impact that China is having on Tesla’s business, with its growth outpacing the US and Other substantially.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0180430811196be3b429d3a937fabcb2\" tg-width=\"640\" tg-height=\"207\" referrerpolicy=\"no-referrer\"/><span>Tesla 2021 Annual Report</span></p><p>The final risk is that of a recession, which could certainly be looming. Whilst I think Tesla does benefit from secular tailwinds, I would not be surprised to see consumers cut back on spending for new, somewhat luxury cars - and I&#39;d expect the automotive industry to be hit particularly hard.</p><p><b>Summary</b></p><p>An investment in Tesla is certainly not for the faint hearted, and I want to highlight that my current view on Tesla is a <b>tentative buy rating</b>. I wouldn’t be surprised to hear either of the following statements in 2030:</p><p>“Remember when we used to drive cars? The fact that we’ve got these Tesla robotaxis is crazy when you think about it, they’ve taken over the world!”</p><p><b>Or</b></p><p>“Tesla sure was overhyped. They really struggled in China, and in the end they ended up just being a car company – despite what I’d seen on Reddit, poor Elon.”</p><p>Personally, I believe that Tesla does have a bright future – even if I can’t predict it with much certainty, there are so many tailwinds driving this brilliant company forward. The share price today offers a much more attractive risk / reward profile, and that I why I would be happy to add this ground-breaking company to my investment portfolio.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: This Investment Is Not For The Faint-Hearted</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: This Investment Is Not For The Faint-Hearted\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-29 22:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4520825-tesla-this-investment-is-not-for-the-faint-hearted><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryTesla is the world’s leading electric vehicle manufacturer.The company’s shares are down more than 40% from their 52-week high, which in the current environment is relatively resilient for ...</p>\n\n<a href=\"https://seekingalpha.com/article/4520825-tesla-this-investment-is-not-for-the-faint-hearted\">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/4520825-tesla-this-investment-is-not-for-the-faint-hearted","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2247564800","content_text":"SummaryTesla is the world’s leading electric vehicle manufacturer.The company’s shares are down more than 40% from their 52-week high, which in the current environment is relatively resilient for expensive tech stocks.The future of this business is somewhat shrouded in mystery, with CEO Elon Musk having a habit of overpromising and underdelivering.Despite this, Tesla is at the forefront of a shift to electrification, and I for one can get behind its mission to “accelerate the world’s transition to sustainable energy”.MikeMareen/iStock Editorial via Getty ImagesInvestment ThesisReach for the stars, and if you don't grab 'em, at least you'll fall on top of the worldI hope that everyone here recognizes the lyrical genius of Mr. Worldwide himself, especially this line is taken from Pitbull’s songGive Me Everything.I can’t help but feel like CEO (sorry, Technoking) of Tesla, Inc. (NASDAQ:NASDAQ:TSLA) Elon Musk found himself inspired by these lyrics. He certainly has a habit of reaching for the stars – whether it's quite literally thanks to SpaceX, or the fact that he has a habit of making wild promises & setting goals that go far beyond the realms of \"ambitious.\"Yet Mr. Musk has found himself falling on top of the world, as Tesla has had a fantastic few years and continues to make impressive progress on full self-driving. Tesla continues to reach for the stars, but will they just come crashing down to earth? I put the company through my investing framework to find out.Business OverviewTesla has pioneered electric vehicle technology since its inception almost 20 years ago, and the company appears to have reached an inflection point over the past 5 years – moving from the brink of bankruptcy in 2018 to a trillion dollar company in 2021.Tesla is primarily an automotive company right now, and it has four car models:Model S: a 4-door, high performance sedanModel 3: a 4-door, mid-size sedan designed for the mass-marketModel X: a mid-size, high-performance SUVModel Y: a company SUV built on the Model 3 platformTeslaThe rollout of Tesla’s Model 3 helped transform the business over the past 5 years. Its mass-market appeal and more affordable price point certainly turned Tesla from an up-and-coming EV company to a genuine automotive business. The below chart highlights just how important the Model 3 has been to Tesla over recent years.StatistaTesla also offers additional products for energy generation and storage. These include Powerwall, a lithium-ion battery storage product designed for a home, Megapack, an energy storage solution for much larger facilities, and Solar Roof, which is well... a solar powered roof.The company also has also invested in a significant amount of vertical integration and additional solutions, including but not limited to:In-house developed battery and powertrain technologySelf-Driving technologies, with offerings such as Autopilot and FSD (Full self-driving).A network of Tesla Superchargers, which offer high-speed EV charging for Tesla ownersA direct-to-consumer sales approach through its website, and an international network of company owned storesAn insurance product which was launched in California in 2019, and has expanded into more and more statesIt would be possible to do a dedicated article on every single one of these additional solutions – but I don’t want to write a novel, at least not yet. That is before considering the future products that Tesla could potentially offer, such as the cybertruck, a network of robotaxis, and Elon Musk’s new favorite toy – the Optimus robot. Whilst I don’t expect all of these ideas to succeed, I do like to see a company with optionality, and Tesla has this in abundance.The Optimus Robot (Tesla)Economic MoatsWith every business, I look to see if there are any durable competitive advantages (aka economic moats) that will help the company continue to thrive whilst protecting itself from competition. Right now, I believe that Tesla has a number of competitive advantages.The first moat worth highlighting is the network effect that Tesla has. Its vehicles are substantially more technologically advanced and interconnected than those of the incumbent manufacturers, and as such Tesla is able to generate a wealth of data from every mile that is driven.This has given them a lead in autonomous driving, as the company has been able to analyze the ever-growing masses of data received from its FSD programs, following which they are able to iterate and rollout improved versions. Tesla is still yet to completely crack full self-driving, but once (or if) it does, it will be transformational for both the company and the world. The below quote from CEO Musk clearly shows his excitement combined with an awareness that this has been a long time coming, yet has never arrived:Well, with respect to full self-driving, of any technology development I’ve ever been involved in, I’ve never really seen more kind of false dawns or where it seems like we’re going to break through, but we don’t, as I’ve seen in full self-driving. And ultimately, what it comes down to is that to solve full self-driving, you actually have to solve real-world artificial intelligence, which is -- which nobody has solved. The whole road system is made for biological neural nets and eyes. And so, actually, when you think about it, in order to solve for full self-driving, we have to solve neural nets and cameras to a degree of capability that is on par with or really exceeds humans.And I think we will achieve that this year. The best way to reach your own assessment is to join the Tesla full self-driving beta program where we have over 100,000 people right now enrolled in that program, and we expect to broaden that significantly this year. So, that’s my recommendation, is join the full self-driving beta program and experience it for yourself and take note of the rate of improvement with every release. And we put out a new release roughly every two weeks. And you’ll see a little bit of two steps forward, one step back. But overall, the rate of improvement is incredibly quick.So, Musk thinks FSD will be achieved this year – I’m sure he’s never said that before…Regardless, the amount of data that Tesla has been able to obtain for FSD is unmatched by competitors, and the network effect is this: more data leads to improved FSD, improved FSD leads to more customers buying Teslas and using FSD, more customers using FSD results in more data, and more data leads to improved FSD. Humans have been trying to crack autonomous driving for a long time, but this network effect may well provide the best opportunity yet.Another network effect that I think is more realistic & sometimes overlooked is with insurance, probably because it’s not as exciting as the idea of robotaxis. Yet it is a similar story to the one above; Tesla has a very connected network of cars with tons of data, and this should enable them to offer data-driven insurance to customers that ends up being increasingly accurate as this network grows.Tesla also benefits from some switching costs, and this is driven by their network of Superchargers. The company has worked hard to build out this network & ensure that Tesla drivers can access these Superchargers easily – but, originally these were only available for Tesla drivers. This is clearly a switching cost, but Tesla has recently trialed opening up its Supercharger network to non-Tesla EVs. Whilst this reduces Tesla’s competitive advantage, I think it was always going to be eroded away over time as EV adoption increases – so perhaps this pilot is Tesla’s way of getting ahead of the curve?Tesla also has the benefit of low-cost production, driven by their vertical integration on battery technology, direct-to-consumer sales, and the ultra-efficient Gigafactories. In fact, a view of their TTM operating margin compared to the incumbents is quite incredible – particularly when you consider that Tesla continues to be less established, and probably has even more room to expand these margins, particularly with the potential for additional software offerings.Tesla Q1'22 Investor PresentationThe final moat that I’ll give Tesla credit for is their brand, and I don’t think anyone can argue with this – but just in case you want to, I’ll add in the below graphic comparing Tesla’s ad-spending per car sold back in 2021.Visual CapitalistThis is another one of the many reasons why Tesla is able to churn out industry-leading margins.Despite this lack of marketing, demand is still substantially outweighing supply, as per Elon Musk on the Q1’22 conference call:I should mention that it may seem like maybe we’re being unreasonable about increasing the prices of our vehicles, given that we had record profitability this quarter, but the wait list for our vehicles is quite long. And some of the vehicles that people will order, the wait list extends into next year. So, our prices of vehicles ordered now are really anticipating supplier and logistics cost growth that we’re aware of and believe will happen over the next 6 to 12 months. So, that’s why we have the price increases today because the car ordered today will arrive, in some cases, a year from now. So, we have a very long wait list, and we’re obviously not demand-limited. We are production-limited by -- very much production-limited.As you can also see, a strong brand gives pricing power & this is just one other lever Tesla can pull in order to keep delivering strong financial results.All in all, there are several powerful economic moats that should help Tesla protect itself from the ever-emerging competition.OutlookI’ll be honest, it’s pretty difficult to give an exact figure on the potential opportunity for Tesla – particularly if the company succeeds with its full self-driving, the robotaxi network, or even the Optimus robot. I think all any shareholder needs to know is that the opportunity is huge, and it’s only getting bigger.If I take a step back and focus solely on the EV market, the opportunity remains both fast growing and enormous. According to Facts and Factors, the global electric vehicle market is expected to grow from a size of $185 billion in 2021 to $980 billion by 2028, implying a CAGR of 24.5% over that period – with Tesla leading the charge (geddit?).ManagementWhen it comes to fast-paced, innovative companies, I always aim to find founder-led businesses where inside ownership is high. I’ll start by highlighting that, even though Elon Musk is not the founder of Tesla, he certainly has his heart and soul in the business. If he walks like a founder and talks like a founder, I’m more than happy to consider Elon Musk a founder.Tesla Q1'22 Investor PresentationI also want to invest in companies where leadership has skin-in-the-game, and Mr. Musk has this in abundance. This is a CEO who understands what skin-in-the-game truly means, as he shows in this 2019 tweet.But do the numbers back that up? They certainly do, as Elon Musk owns ~25% of the company – no wonder he’s the richest man in the world!Tesla 2021 Proxy Filing / ExcelI also like to take a quick look on Glassdoor to get an idea about the culture of a company, and Tesla gets somewhat underwhelming scores from the ~7,000 reviews left by employees. Any score over 4.0 is impressive, and Tesla fails to obtain this in any category. The score is particularly low on Work/Life Balance, which probably isn’t a surprise to anyone – whilst Elon Musk has undoubtedly driven the world forward with some of his companies, he also has a reputation of being tough to work for. He has incredibly high expectations from himself and those around him – unfortunately, this appears to have led to a culture within Tesla that I would not be too happy with as a shareholder.GlassdoorFinancialsTesla’s financial profile over the last few years is something of a turnaround story, starting with their balance sheet. Back in 2018, the company had almost 3x as much debt as they had cash. Fast-forward to 2021, and that has completed flipped, with cash now representing more than 3x their debt. This has been driven by the company's ability to ramp up sales and bring in additional cash flow to shore up the balance sheet, as well as raising funds through additional share offerings. The bankruptcy risk to Tesla around 2018 was well documented, but clearly now it is a company in an extremely robust financial position that will serve it will for the future.Tesla SEC Filings / ExcelRevenue growth has been lumpy over this period, at times impacted by the needed ramp up of its production facilities as well as the impact of lockdowns during the pandemic – but 2021 saw revenue absolutely soar as the world opened up again, and consumer spending took off like a rocket.Margins and cash flow for this business are impressive, whichever way you look at it. The EBIT margin has seen astounding expansion for such a capital-intensive business, and similarly the ~$11.5 billion in operating cash flow in 2021 is incredibly strong. It makes you wonder how a business goes from the brink of bankruptcy to a cash generating machine in just a few years.ValuationAs with all high growth, innovative companies, valuation is tough – and for a company who believe their future products to be life changing, it is even more difficult. I believe that my approach will give me an idea about whether Tesla is insanely overvalued or undervalued, but valuation is the final thing I look at - the quality of the business itself is far more important in the long run.Tesla SEC Filings / ExcelMy model assumes revenue growth of 50% for 2022, following Tesla's guidance of 50% YoY growth in vehicle deliveries driven by the continued strong demand and production ramp up despite the continued issues in Shanghai. I have then assumed a slowdown in revenue growth through to 2026. It’s perfectly reasonable to think that this is too conservative, however I would always prefer to be too conservative rather than too optimistic.I have also assumed a gradual margin expansion as Tesla continues to benefit from its scale, and those investments in vertically integrated aspects of its business start to play out.I assumed that shares outstanding will increase by 5% annually through to 2026. Tesla has a history of diluting shareholders, however I still think that this assumption is prudent – as Tesla continues to produce more cash, I doubt it will continue to dilute shareholders at a dramatic rate.Finally, I’ve chosen a wide range of EV / FCF multiples for the low, medium, and high scenario. This represents my own uncertainty about the future of Tesla, the fact that it is priced for a lot of success, but also the fact that it could see success that is far beyond my imagination.Put this all together, and my mid-range scenario implies an 11% CAGR of Tesla shares from today through to 2026.RisksThere are a number of potential risks for Tesla, as my fellow Seeking Alpha highlights in this detailed article. I do think the approach is very \"glass half empty,\" but it is useful for potential shareholders to familiarize themselves with these risks.In my eyes, there are a couple of main risks. First is competition – EVs are growing in popularity, and there are a number of new EV-specialist car manufacturers as well as the incumbents who are all coming to do battle with Tesla. Clearly, Tesla has a huge head start, but shareholders should keep an eye on any competitors who appear to be closing this gap.The second risk primarily relates to China. Clearly there are geopolitical risks, and China is also one of the most competitive markets for electric vehicles – and, it’s likely to grow and be the largest. If Tesla is impacted by geopolitics, then it could suffer greatly. Just take a look at the below table of car sales over the past few years to see the impact that China is having on Tesla’s business, with its growth outpacing the US and Other substantially.Tesla 2021 Annual ReportThe final risk is that of a recession, which could certainly be looming. Whilst I think Tesla does benefit from secular tailwinds, I would not be surprised to see consumers cut back on spending for new, somewhat luxury cars - and I'd expect the automotive industry to be hit particularly hard.SummaryAn investment in Tesla is certainly not for the faint hearted, and I want to highlight that my current view on Tesla is a tentative buy rating. I wouldn’t be surprised to hear either of the following statements in 2030:“Remember when we used to drive cars? The fact that we’ve got these Tesla robotaxis is crazy when you think about it, they’ve taken over the world!”Or“Tesla sure was overhyped. They really struggled in China, and in the end they ended up just being a car company – despite what I’d seen on Reddit, poor Elon.”Personally, I believe that Tesla does have a bright future – even if I can’t predict it with much certainty, there are so many tailwinds driving this brilliant company forward. The share price today offers a much more attractive risk / reward profile, and that I why I would be happy to add this ground-breaking company to my investment portfolio.","news_type":1},"isVote":1,"tweetType":1,"viewCount":203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137483644,"gmtCreate":1622377289788,"gmtModify":1704183626399,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/137483644","repostId":"2138948877","repostType":4,"repost":{"id":"2138948877","kind":"highlight","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1622215813,"share":"https://ttm.financial/m/news/2138948877?lang=&edition=fundamental","pubTime":"2021-05-28 23:30","market":"us","language":"en","title":"The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever","url":"https://stock-news.laohu8.com/highlight/detail?id=2138948877","media":"Investors","summary":"Vacation trends reveal shifts toward privacy, luxury and family, continuing a transformative period for leisure and travel stocks.","content":"<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</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>The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever\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/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time\">2021-05-28 23:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WGO":"温尼巴格实业"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138948877","content_text":"Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like Airbnb that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.Leisure, Travel Industry StocksShares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.Airline stocks like American Airlines, United Airlines and Delta Air Lines surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.Cruise stocks like Carnival, Royal Caribbean and Norwegian Cruise Line are showing similar patterns.Meanwhile, shares of boat makers MarineMax and Brunswick as well as RV makers Winnebago and Thor Industries need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.Hotel leader Marriott has been less volatile and is forming a base, though earnings and sales have yet to fully recover.Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from Expedia rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.When Luxury Means More PrivacyLuxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.Private jet leasing company NetJets, which is owned by Berkshire Hathaway, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.Vacation Shift Favors These Travel StocksHotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes & Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.The Homes & Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.Seaworthy Travel Stocks Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick as well as sport boat maker Malibu Boats.\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.Travel Stocks For Being Alone TogetherThe desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.\"The rediscovery of America will continue this summer,\" Weissman said.The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.Work-Life RebalanceAs people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"Future Of Business Travel?That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.Experts say fewer workers may fly for one-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in one house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":9,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130136739,"gmtCreate":1621518280821,"gmtModify":1704358943267,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Stonk","listText":"Stonk","text":"Stonk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/130136739","repostId":"1138243341","repostType":4,"repost":{"id":"1138243341","kind":"news","pubTimestamp":1621518192,"share":"https://ttm.financial/m/news/1138243341?lang=&edition=fundamental","pubTime":"2021-05-20 21:43","market":"us","language":"en","title":"Ford already has 20,000 reservations for new electric F-150 Lightning pickup","url":"https://stock-news.laohu8.com/highlight/detail?id=1138243341","media":"CNBC","summary":"Ford Motor has taken 20,000 reservations for its new electric F-150 Lightning pickup in less than 12","content":"<div>\n<p>Ford Motor has taken 20,000 reservations for its new electric F-150 Lightning pickup in less than 12 hours since the truck was officially unveiled to the public Wednesday night, CEO Jim Farley told ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/20/ford-already-has-20000-reservations-for-new-electric-f-150-lightning-pickup-.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>Ford already has 20,000 reservations for new electric F-150 Lightning pickup</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\">\nFord already has 20,000 reservations for new electric F-150 Lightning pickup\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 21:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/20/ford-already-has-20000-reservations-for-new-electric-f-150-lightning-pickup-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ford Motor has taken 20,000 reservations for its new electric F-150 Lightning pickup in less than 12 hours since the truck was officially unveiled to the public Wednesday night, CEO Jim Farley told ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/20/ford-already-has-20000-reservations-for-new-electric-f-150-lightning-pickup-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"F":"福特汽车"},"source_url":"https://www.cnbc.com/2021/05/20/ford-already-has-20000-reservations-for-new-electric-f-150-lightning-pickup-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1138243341","content_text":"Ford Motor has taken 20,000 reservations for its new electric F-150 Lightning pickup in less than 12 hours since the truck was officially unveiled to the public Wednesday night, CEO Jim Farley told CNBC.\nThe automaker revealed the vehicle at 9:30 p.m. ET Wednesday night during an elaborate presentation at the company’s world headquarters in Dearborn, Mich. The company’s shares jumped by about 3% in premarket training.\nThe reservations are being closely watched by the company as well as investors to gauge the interest of customers in EV pickups, which is an unproven segment that automakers are rushing to enter.\nFord is taking reservations for the vehicle on its website. A refundable $100 deposit is required.","news_type":1},"isVote":1,"tweetType":1,"viewCount":81,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9079027086,"gmtCreate":1657124232845,"gmtModify":1676535953826,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Y","listText":"Y","text":"Y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9079027086","repostId":"1125207440","repostType":4,"repost":{"id":"1125207440","kind":"news","pubTimestamp":1657121422,"share":"https://ttm.financial/m/news/1125207440?lang=&edition=fundamental","pubTime":"2022-07-06 23:30","market":"us","language":"en","title":"Buy VXX Call Options To Protect Against A Volatility Spike","url":"https://stock-news.laohu8.com/highlight/detail?id=1125207440","media":"barchart","summary":"Market volatility has dropped slightly in recent weeks as measured by the CBOE Volatility (VIX) Inde","content":"<html><head></head><body><p>Market volatility has dropped slightly in recent weeks as measured by the CBOE Volatility (VIX) Index. VIX is a real-time index that represents the market expectation for near-term volatility in the S&amp;P500 index.</p><p>Investors and traders have long used VIX as a measure of the level of risk, fear or stress in the market.</p><p>The iPath S&amp;P 500 VIX Short-Term Futures ETN (VXX) is a volatility exchange traded note (ETF) and behaves differently to a regular ETF. VXX typically sees large price increase when the S&amp;P500 tanks. However, most of the time it slowly but surely drops in price. Take a look at a long-term chart and you’ll see what I mean.</p><p><img src=\"https://static.tigerbbs.com/11fbb63999cf60b918a8ee0d8af0f8c2\" tg-width=\"940\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/>As traders, we can also use VXX options to place trades that benefit from either rising or falling volatility.</p><p>Buying VXX Call Options To Protect Against A Volatility Spike</p><p>Some traders will buy VXX call options as a method of protecting against rising volatility. Let’s look at a couple of different examples.</p><p>A long call option trade gives the buyer of the option the right to purchase a certain stock at a certain price (strike price) up until a certain date (expiration date).</p><p>Suppose an investor is worried about a market drop and associated volatility spike between now and mid-August.</p><p>The investor could purchase a VXX August 19 call option with a strike price of 27. This call option contract was trading on Friday for around $1.10 meaning the investor would need to pay $110 to purchase the call option.</p><p>The maximum loss is limited to the premium paid, which in this case is $110. The maximum loss would occur if VXX closes below 27 on August 19. The breakeven price is 28.10 which is calculated by taking the strike price and adding the premium paid.</p><p>The maximum potential gain is unlimited.</p><p>Savvy traders can further reduce the risk by selling an out-of-the-money call, turning the trade into a bull call spread.</p><p>For example, selling the August 19, 32 call would reduce the trade cost by around $50 but would also limit the upside above 32.</p><p><b>Conclusion</b></p><p>Using VXX options can be simple and cheap way to buy some protection against a sharp selloff in stocks between now and August. The trade can be placed relatively cheaply at $110 for the long call or just $60 for the bull call spread.</p><p>While it is important to keep in mind that it may take a fairly large volatility spike to see VXX jump above 27, for a low cost, this particular option trade could help you sleep easier at night.</p><p>VXX and VXX options behave differently to regular ETF’s and options, so it is vital that any trader using this product fully understands the risks involved. As always, do your own research and due diligence before risking any of your hard-earned capital.</p><p>Please remember that options are risky, and investors can lose 100% of their investment. This article is for education purposes only and not a trade recommendation. Remember to always do your own due diligence and consult your financial advisor before making any investment decisions.</p></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>Buy VXX Call Options To Protect Against A Volatility Spike</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\">\nBuy VXX Call Options To Protect Against A Volatility Spike\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-06 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barchart.com/story/news/9004027/protecting-against-an-august-volatility-spike><strong>barchart</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Market volatility has dropped slightly in recent weeks as measured by the CBOE Volatility (VIX) Index. VIX is a real-time index that represents the market expectation for near-term volatility in the S...</p>\n\n<a href=\"https://www.barchart.com/story/news/9004027/protecting-against-an-august-volatility-spike\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VXX":"短期VIX期货ETN","VIX":"标普500波动率指数"},"source_url":"https://www.barchart.com/story/news/9004027/protecting-against-an-august-volatility-spike","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125207440","content_text":"Market volatility has dropped slightly in recent weeks as measured by the CBOE Volatility (VIX) Index. VIX is a real-time index that represents the market expectation for near-term volatility in the S&P500 index.Investors and traders have long used VIX as a measure of the level of risk, fear or stress in the market.The iPath S&P 500 VIX Short-Term Futures ETN (VXX) is a volatility exchange traded note (ETF) and behaves differently to a regular ETF. VXX typically sees large price increase when the S&P500 tanks. However, most of the time it slowly but surely drops in price. Take a look at a long-term chart and you’ll see what I mean.As traders, we can also use VXX options to place trades that benefit from either rising or falling volatility.Buying VXX Call Options To Protect Against A Volatility SpikeSome traders will buy VXX call options as a method of protecting against rising volatility. Let’s look at a couple of different examples.A long call option trade gives the buyer of the option the right to purchase a certain stock at a certain price (strike price) up until a certain date (expiration date).Suppose an investor is worried about a market drop and associated volatility spike between now and mid-August.The investor could purchase a VXX August 19 call option with a strike price of 27. This call option contract was trading on Friday for around $1.10 meaning the investor would need to pay $110 to purchase the call option.The maximum loss is limited to the premium paid, which in this case is $110. The maximum loss would occur if VXX closes below 27 on August 19. The breakeven price is 28.10 which is calculated by taking the strike price and adding the premium paid.The maximum potential gain is unlimited.Savvy traders can further reduce the risk by selling an out-of-the-money call, turning the trade into a bull call spread.For example, selling the August 19, 32 call would reduce the trade cost by around $50 but would also limit the upside above 32.ConclusionUsing VXX options can be simple and cheap way to buy some protection against a sharp selloff in stocks between now and August. The trade can be placed relatively cheaply at $110 for the long call or just $60 for the bull call spread.While it is important to keep in mind that it may take a fairly large volatility spike to see VXX jump above 27, for a low cost, this particular option trade could help you sleep easier at night.VXX and VXX options behave differently to regular ETF’s and options, so it is vital that any trader using this product fully understands the risks involved. As always, do your own research and due diligence before risking any of your hard-earned capital.Please remember that options are risky, and investors can lose 100% of their investment. This article is for education purposes only and not a trade recommendation. Remember to always do your own due diligence and consult your financial advisor before making any investment decisions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":82,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9042466402,"gmtCreate":1656514927406,"gmtModify":1676535843589,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Y","listText":"Y","text":"Y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9042466402","repostId":"2247564800","repostType":4,"repost":{"id":"2247564800","kind":"highlight","pubTimestamp":1656512826,"share":"https://ttm.financial/m/news/2247564800?lang=&edition=fundamental","pubTime":"2022-06-29 22:27","market":"us","language":"en","title":"Tesla: This Investment Is Not For The Faint-Hearted","url":"https://stock-news.laohu8.com/highlight/detail?id=2247564800","media":"seekingalpha","summary":"SummaryTesla is the world’s leading electric vehicle manufacturer.The company’s shares are down more than 40% from their 52-week high, which in the current environment is relatively resilient for expe","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Tesla is the world’s leading electric vehicle manufacturer.</li><li>The company’s shares are down more than 40% from their 52-week high, which in the current environment is relatively resilient for expensive tech stocks.</li><li>The future of this business is somewhat shrouded in mystery, with CEO Elon Musk having a habit of overpromising and underdelivering.</li><li>Despite this, Tesla is at the forefront of a shift to electrification, and I for one can get behind its mission to “accelerate the world’s transition to sustainable energy”.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/18a8ddcfd306d6221eb23ad49f4e085f\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\"/><span>MikeMareen/iStock Editorial via Getty Images</span></p><p><b>Investment Thesis</b></p><blockquote>Reach for the stars, and if you don&#39;t grab &#39;em, at least you&#39;ll fall on top of the world</blockquote><p>I hope that everyone here recognizes the lyrical genius of Mr. Worldwide himself, especially this line is taken from Pitbull’s songGive Me Everything.</p><p>I can’t help but feel like CEO (sorry, Technoking) of Tesla, Inc. (NASDAQ:NASDAQ:TSLA) Elon Musk found himself inspired by these lyrics. He certainly has a habit of reaching for the stars – whether it&#39;s quite literally thanks to SpaceX, or the fact that he has a habit of making wild promises &amp; setting goals that go far beyond the realms of &#34;ambitious.&#34;</p><p>Yet Mr. Musk has found himself falling on top of the world, as Tesla has had a fantastic few years and continues to make impressive progress on full self-driving. Tesla continues to reach for the stars, but will they just come crashing down to earth? I put the company through my investing framework to find out.</p><p><b>Business Overview</b></p><p>Tesla has pioneered electric vehicle technology since its inception almost 20 years ago, and the company appears to have reached an inflection point over the past 5 years – moving from the brink of bankruptcy in 2018 to a trillion dollar company in 2021.</p><p>Tesla is primarily an automotive company right now, and it has four car models:</p><ul><li>Model S: a 4-door, high performance sedan</li><li>Model 3: a 4-door, mid-size sedan designed for the mass-market</li><li>Model X: a mid-size, high-performance SUV</li><li>Model Y: a company SUV built on the Model 3 platform</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a9a52b2206e73300b606f427914d8d63\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"/><span>Tesla</span></p><p>The rollout of Tesla’s Model 3 helped transform the business over the past 5 years. Its mass-market appeal and more affordable price point certainly turned Tesla from an up-and-coming EV company to a genuine automotive business. The below chart highlights just how important the Model 3 has been to Tesla over recent years.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/66070afd3a5ab98e954039f1c27b5802\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Statista</span></p><p>Tesla also offers additional products for energy generation and storage. These include Powerwall, a lithium-ion battery storage product designed for a home, Megapack, an energy storage solution for much larger facilities, and Solar Roof, which is well... a solar powered roof.</p><p>The company also has also invested in a significant amount of vertical integration and additional solutions, including but not limited to:</p><ul><li>In-house developed battery and powertrain technology</li><li>Self-Driving technologies, with offerings such as Autopilot and FSD (Full self-driving).</li><li>A network of Tesla Superchargers, which offer high-speed EV charging for Tesla owners</li><li>A direct-to-consumer sales approach through its website, and an international network of company owned stores</li><li>An insurance product which was launched in California in 2019, and has expanded into more and more states</li></ul><p>It would be possible to do a dedicated article on every single <a href=\"https://laohu8.com/S/AONE.U\">one</a> of these additional solutions – but I don’t want to write a novel, at least not yet. That is before considering the future products that Tesla could potentially offer, such as the cybertruck, a network of robotaxis, and Elon Musk’s new favorite toy – the Optimus robot. Whilst I don’t expect all of these ideas to succeed, I do like to see a company with optionality, and Tesla has this in abundance.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/23f883f28e00544dd09c773e389364f9\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>The Optimus Robot (Tesla)</span></p><p><b>Economic Moats</b></p><p>With every business, I look to see if there are any durable competitive advantages (aka economic moats) that will help the company continue to thrive whilst protecting itself from competition. Right now, I believe that Tesla has a number of competitive advantages.</p><p>The first moat worth highlighting is the network effect that Tesla has. Its vehicles are substantially more technologically advanced and interconnected than those of the incumbent manufacturers, and as such Tesla is able to generate a wealth of data from every mile that is driven.</p><p>This has given them a lead in autonomous driving, as the company has been able to analyze the ever-growing masses of data received from its FSD programs, following which they are able to iterate and rollout improved versions. Tesla is still yet to completely crack full self-driving, but once (or if) it does, it will be transformational for both the company and the world. The below quote from CEO Musk clearly shows his excitement combined with an awareness that this has been a long time coming, yet has never arrived:</p><blockquote>Well, with respect to full self-driving, of any technology development I’ve ever been involved in, I’ve never really seen more kind of false dawns or where it seems like we’re going to break through, but we don’t, as I’ve seen in full self-driving. And ultimately, what it comes down to is that to solve full self-driving, you actually have to solve real-world artificial intelligence, which is -- which nobody has solved. The whole road system is made for biological neural nets and eyes. And so, actually, when you think about it, in order to solve for full self-driving, we have to solve neural nets and cameras to a degree of capability that is on par with or really exceeds humans.</blockquote><blockquote>And I think we will achieve that this year. The best way to reach your own assessment is to join the Tesla full self-driving beta program where we have over 100,000 people right now enrolled in that program, and we expect to broaden that significantly this year. So, that’s my recommendation, is join the full self-driving beta program and experience it for yourself and take note of the rate of improvement with every release. And we put out a new release roughly every two weeks. And you’ll see a little bit of two steps forward, one step back. But overall, the rate of improvement is incredibly quick.</blockquote><p>So, Musk thinks FSD will be achieved this year – I’m sure he’s never said that before…</p><p>Regardless, the amount of data that Tesla has been able to obtain for FSD is unmatched by competitors, and the network effect is this: more data leads to improved FSD, improved FSD leads to more customers buying Teslas and using FSD, more customers using FSD results in more data, and more data leads to improved FSD. Humans have been trying to crack autonomous driving for a long time, but this network effect may well provide the best opportunity yet.</p><p>Another network effect that I think is more realistic &amp; sometimes overlooked is with insurance, probably because it’s not as exciting as the idea of robotaxis. Yet it is a similar story to the one above; Tesla has a very connected network of cars with tons of data, and this should enable them to offer data-driven insurance to customers that ends up being increasingly accurate as this network grows.</p><p>Tesla also benefits from some switching costs, and this is driven by their network of Superchargers. The company has worked hard to build out this network &amp; ensure that Tesla drivers can access these Superchargers easily – but, originally these were only available for Tesla drivers. This is clearly a switching cost, but Tesla has recently trialed opening up its Supercharger network to non-Tesla EVs. Whilst this reduces Tesla’s competitive advantage, I think it was always going to be eroded away over time as EV adoption increases – so perhaps this pilot is Tesla’s way of getting ahead of the curve?</p><p>Tesla also has the benefit of low-cost production, driven by their vertical integration on battery technology, direct-to-consumer sales, and the ultra-efficient Gigafactories. In fact, a view of their TTM operating margin compared to the incumbents is quite incredible – particularly when you consider that Tesla continues to be less established, and probably has even more room to expand these margins, particularly with the potential for additional software offerings.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d92e0d8f7493cae26081c74e9a6693b8\" tg-width=\"640\" tg-height=\"308\" referrerpolicy=\"no-referrer\"/><span>Tesla Q1&#39;22 Investor Presentation</span></p><p>The final moat that I’ll give Tesla credit for is their brand, and I don’t think anyone can argue with this – but just in case you want to, I’ll add in the below graphic comparing Tesla’s ad-spending per car sold back in 2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d7c781fe9080e9f67aa3ce0af810baa2\" tg-width=\"640\" tg-height=\"640\" referrerpolicy=\"no-referrer\"/><span>Visual Capitalist</span></p><p>This is another one of the many reasons why Tesla is able to churn out industry-leading margins.</p><p>Despite this lack of marketing, demand is still substantially outweighing supply, as per Elon Musk on the Q1’22 conference call:</p><blockquote>I should mention that it may seem like maybe we’re being unreasonable about increasing the prices of our vehicles, given that we had record profitability this quarter, but the wait list for our vehicles is quite long. And some of the vehicles that people will order, the wait list extends into next year. So, our prices of vehicles ordered now are really anticipating supplier and logistics cost growth that we’re aware of and believe will happen over the next 6 to 12 months. So, that’s why we have the price increases today because the car ordered today will arrive, in some cases, a year from now. So, we have a very long wait list, and we’re obviously not demand-limited. We are production-limited by -- very much production-limited.</blockquote><p>As you can also see, a strong brand gives pricing power &amp; this is just one other lever Tesla can pull in order to keep delivering strong financial results.</p><p>All in all, there are several powerful economic moats that should help Tesla protect itself from the ever-emerging competition.</p><p><b>Outlook</b></p><p>I’ll be honest, it’s pretty difficult to give an exact figure on the potential opportunity for Tesla – particularly if the company succeeds with its full self-driving, the robotaxi network, or even the Optimus robot. I think all any shareholder needs to know is that the opportunity is huge, and it’s only getting bigger.</p><p>If I take a step back and focus solely on the EV market, the opportunity remains both fast growing and enormous. According to Facts and Factors, the global electric vehicle market is expected to grow from a size of $185 billion in 2021 to $980 billion by 2028, implying a CAGR of 24.5% over that period – with Tesla leading the charge (geddit?).</p><p><b>Management</b></p><p>When it comes to fast-paced, innovative companies, I always aim to find founder-led businesses where inside ownership is high. I’ll start by highlighting that, even though Elon Musk is not the founder of Tesla, he certainly has his heart and soul in the business. If he walks like a founder and talks like a founder, I’m more than happy to consider Elon Musk a founder.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3d7ef06816853cbc8925c926acef1fb\" tg-width=\"640\" tg-height=\"318\" referrerpolicy=\"no-referrer\"/><span>Tesla Q1&#39;22 Investor Presentation</span></p><p>I also want to invest in companies where leadership has skin-in-the-game, and Mr. Musk has this in abundance. This is a CEO who understands what skin-in-the-game truly means, as he shows in this 2019 tweet.</p><p>But do the numbers back that up? They certainly do, as Elon Musk owns ~25% of the company – no wonder he’s the richest man in the world!</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c94e4e6285ec0abd74a194a9cf51c478\" tg-width=\"640\" tg-height=\"95\" referrerpolicy=\"no-referrer\"/><span>Tesla 2021 Proxy Filing / Excel</span></p><p>I also like to take a quick look on Glassdoor to get an idea about the culture of a company, and Tesla gets somewhat underwhelming scores from the ~7,000 reviews left by employees. Any score over 4.0 is impressive, and Tesla fails to obtain this in any category. The score is particularly low on Work/Life Balance, which probably isn’t a surprise to anyone – whilst Elon Musk has undoubtedly driven the world forward with some of his companies, he also has a reputation of being tough to work for. He has incredibly high expectations from himself and those around him – unfortunately, this appears to have led to a culture within Tesla that I would not be too happy with as a shareholder.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5a0db0f879ac0ac11e4ff2c8e86530d\" tg-width=\"640\" tg-height=\"335\" referrerpolicy=\"no-referrer\"/><span>Glassdoor</span></p><p><b>Financials</b></p><p>Tesla’s financial profile over the last few years is something of a turnaround story, starting with their balance sheet. Back in 2018, the company had almost 3x as much debt as they had cash. Fast-forward to 2021, and that has completed flipped, with cash now representing more than 3x their debt. This has been driven by the company&#39;s ability to ramp up sales and bring in additional cash flow to shore up the balance sheet, as well as raising funds through additional share offerings. The bankruptcy risk to Tesla around 2018 was well documented, but clearly now it is a company in an extremely robust financial position that will serve it will for the future.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9fcd19b7e6b5ff0d24497bfe963e7db2\" tg-width=\"640\" tg-height=\"312\" referrerpolicy=\"no-referrer\"/><span>Tesla SEC Filings / Excel</span></p><p>Revenue growth has been lumpy over this period, at times impacted by the needed ramp up of its production facilities as well as the impact of lockdowns during the pandemic – but 2021 saw revenue absolutely soar as the world opened up again, and consumer spending took off like a rocket.</p><p>Margins and cash flow for this business are impressive, whichever way you look at it. The EBIT margin has seen astounding expansion for such a capital-intensive business, and similarly the ~$11.5 billion in operating cash flow in 2021 is incredibly strong. It makes you wonder how a business goes from the brink of bankruptcy to a cash generating machine in just a few years.</p><p><b>Valuation</b></p><p>As with all high growth, innovative companies, valuation is tough – and for a company who believe their future products to be life changing, it is even more difficult. I believe that my approach will give me an idea about whether Tesla is insanely overvalued or undervalued, but valuation is the final thing I look at - the quality of the business itself is far more important in the long run.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48ad05f01f439dfffcb8971c90609b3c\" tg-width=\"640\" tg-height=\"658\" referrerpolicy=\"no-referrer\"/><span>Tesla SEC Filings / Excel</span></p><p>My model assumes revenue growth of 50% for 2022, following Tesla&#39;s guidance of 50% YoY growth in vehicle deliveries driven by the continued strong demand and production ramp up despite the continued issues in Shanghai. I have then assumed a slowdown in revenue growth through to 2026. It’s perfectly reasonable to think that this is too conservative, however I would always prefer to be too conservative rather than too optimistic.</p><p>I have also assumed a gradual margin expansion as Tesla continues to benefit from its scale, and those investments in vertically integrated aspects of its business start to play out.</p><p>I assumed that shares outstanding will increase by 5% annually through to 2026. Tesla has a history of diluting shareholders, however I still think that this assumption is prudent – as Tesla continues to produce more cash, I doubt it will continue to dilute shareholders at a dramatic rate.</p><p>Finally, I’ve chosen a wide range of EV / FCF multiples for the low, medium, and high scenario. This represents my own uncertainty about the future of Tesla, the fact that it is priced for a lot of success, but also the fact that it could see success that is far beyond my imagination.</p><p>Put this all together, and my mid-range scenario implies an 11% CAGR of Tesla shares from today through to 2026.</p><p><b>Risks</b></p><p>There are a number of potential risks for Tesla, as my fellow Seeking Alpha highlights in this detailed article. I do think the approach is very &#34;glass half empty,&#34; but it is useful for potential shareholders to familiarize themselves with these risks.</p><p>In my eyes, there are a couple of main risks. First is competition – EVs are growing in popularity, and there are a number of new EV-specialist car manufacturers as well as the incumbents who are all coming to do battle with Tesla. Clearly, Tesla has a huge head start, but shareholders should keep an eye on any competitors who appear to be closing this gap.</p><p>The second risk primarily relates to China. Clearly there are geopolitical risks, and China is also one of the most competitive markets for electric vehicles – and, it’s likely to grow and be the largest. If Tesla is impacted by geopolitics, then it could suffer greatly. Just take a look at the below table of car sales over the past few years to see the impact that China is having on Tesla’s business, with its growth outpacing the US and Other substantially.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0180430811196be3b429d3a937fabcb2\" tg-width=\"640\" tg-height=\"207\" referrerpolicy=\"no-referrer\"/><span>Tesla 2021 Annual Report</span></p><p>The final risk is that of a recession, which could certainly be looming. Whilst I think Tesla does benefit from secular tailwinds, I would not be surprised to see consumers cut back on spending for new, somewhat luxury cars - and I&#39;d expect the automotive industry to be hit particularly hard.</p><p><b>Summary</b></p><p>An investment in Tesla is certainly not for the faint hearted, and I want to highlight that my current view on Tesla is a <b>tentative buy rating</b>. I wouldn’t be surprised to hear either of the following statements in 2030:</p><p>“Remember when we used to drive cars? The fact that we’ve got these Tesla robotaxis is crazy when you think about it, they’ve taken over the world!”</p><p><b>Or</b></p><p>“Tesla sure was overhyped. They really struggled in China, and in the end they ended up just being a car company – despite what I’d seen on Reddit, poor Elon.”</p><p>Personally, I believe that Tesla does have a bright future – even if I can’t predict it with much certainty, there are so many tailwinds driving this brilliant company forward. The share price today offers a much more attractive risk / reward profile, and that I why I would be happy to add this ground-breaking company to my investment portfolio.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: This Investment Is Not For The Faint-Hearted</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: This Investment Is Not For The Faint-Hearted\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-29 22:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4520825-tesla-this-investment-is-not-for-the-faint-hearted><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryTesla is the world’s leading electric vehicle manufacturer.The company’s shares are down more than 40% from their 52-week high, which in the current environment is relatively resilient for ...</p>\n\n<a href=\"https://seekingalpha.com/article/4520825-tesla-this-investment-is-not-for-the-faint-hearted\">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/4520825-tesla-this-investment-is-not-for-the-faint-hearted","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2247564800","content_text":"SummaryTesla is the world’s leading electric vehicle manufacturer.The company’s shares are down more than 40% from their 52-week high, which in the current environment is relatively resilient for expensive tech stocks.The future of this business is somewhat shrouded in mystery, with CEO Elon Musk having a habit of overpromising and underdelivering.Despite this, Tesla is at the forefront of a shift to electrification, and I for one can get behind its mission to “accelerate the world’s transition to sustainable energy”.MikeMareen/iStock Editorial via Getty ImagesInvestment ThesisReach for the stars, and if you don't grab 'em, at least you'll fall on top of the worldI hope that everyone here recognizes the lyrical genius of Mr. Worldwide himself, especially this line is taken from Pitbull’s songGive Me Everything.I can’t help but feel like CEO (sorry, Technoking) of Tesla, Inc. (NASDAQ:NASDAQ:TSLA) Elon Musk found himself inspired by these lyrics. He certainly has a habit of reaching for the stars – whether it's quite literally thanks to SpaceX, or the fact that he has a habit of making wild promises & setting goals that go far beyond the realms of \"ambitious.\"Yet Mr. Musk has found himself falling on top of the world, as Tesla has had a fantastic few years and continues to make impressive progress on full self-driving. Tesla continues to reach for the stars, but will they just come crashing down to earth? I put the company through my investing framework to find out.Business OverviewTesla has pioneered electric vehicle technology since its inception almost 20 years ago, and the company appears to have reached an inflection point over the past 5 years – moving from the brink of bankruptcy in 2018 to a trillion dollar company in 2021.Tesla is primarily an automotive company right now, and it has four car models:Model S: a 4-door, high performance sedanModel 3: a 4-door, mid-size sedan designed for the mass-marketModel X: a mid-size, high-performance SUVModel Y: a company SUV built on the Model 3 platformTeslaThe rollout of Tesla’s Model 3 helped transform the business over the past 5 years. Its mass-market appeal and more affordable price point certainly turned Tesla from an up-and-coming EV company to a genuine automotive business. The below chart highlights just how important the Model 3 has been to Tesla over recent years.StatistaTesla also offers additional products for energy generation and storage. These include Powerwall, a lithium-ion battery storage product designed for a home, Megapack, an energy storage solution for much larger facilities, and Solar Roof, which is well... a solar powered roof.The company also has also invested in a significant amount of vertical integration and additional solutions, including but not limited to:In-house developed battery and powertrain technologySelf-Driving technologies, with offerings such as Autopilot and FSD (Full self-driving).A network of Tesla Superchargers, which offer high-speed EV charging for Tesla ownersA direct-to-consumer sales approach through its website, and an international network of company owned storesAn insurance product which was launched in California in 2019, and has expanded into more and more statesIt would be possible to do a dedicated article on every single one of these additional solutions – but I don’t want to write a novel, at least not yet. That is before considering the future products that Tesla could potentially offer, such as the cybertruck, a network of robotaxis, and Elon Musk’s new favorite toy – the Optimus robot. Whilst I don’t expect all of these ideas to succeed, I do like to see a company with optionality, and Tesla has this in abundance.The Optimus Robot (Tesla)Economic MoatsWith every business, I look to see if there are any durable competitive advantages (aka economic moats) that will help the company continue to thrive whilst protecting itself from competition. Right now, I believe that Tesla has a number of competitive advantages.The first moat worth highlighting is the network effect that Tesla has. Its vehicles are substantially more technologically advanced and interconnected than those of the incumbent manufacturers, and as such Tesla is able to generate a wealth of data from every mile that is driven.This has given them a lead in autonomous driving, as the company has been able to analyze the ever-growing masses of data received from its FSD programs, following which they are able to iterate and rollout improved versions. Tesla is still yet to completely crack full self-driving, but once (or if) it does, it will be transformational for both the company and the world. The below quote from CEO Musk clearly shows his excitement combined with an awareness that this has been a long time coming, yet has never arrived:Well, with respect to full self-driving, of any technology development I’ve ever been involved in, I’ve never really seen more kind of false dawns or where it seems like we’re going to break through, but we don’t, as I’ve seen in full self-driving. And ultimately, what it comes down to is that to solve full self-driving, you actually have to solve real-world artificial intelligence, which is -- which nobody has solved. The whole road system is made for biological neural nets and eyes. And so, actually, when you think about it, in order to solve for full self-driving, we have to solve neural nets and cameras to a degree of capability that is on par with or really exceeds humans.And I think we will achieve that this year. The best way to reach your own assessment is to join the Tesla full self-driving beta program where we have over 100,000 people right now enrolled in that program, and we expect to broaden that significantly this year. So, that’s my recommendation, is join the full self-driving beta program and experience it for yourself and take note of the rate of improvement with every release. And we put out a new release roughly every two weeks. And you’ll see a little bit of two steps forward, one step back. But overall, the rate of improvement is incredibly quick.So, Musk thinks FSD will be achieved this year – I’m sure he’s never said that before…Regardless, the amount of data that Tesla has been able to obtain for FSD is unmatched by competitors, and the network effect is this: more data leads to improved FSD, improved FSD leads to more customers buying Teslas and using FSD, more customers using FSD results in more data, and more data leads to improved FSD. Humans have been trying to crack autonomous driving for a long time, but this network effect may well provide the best opportunity yet.Another network effect that I think is more realistic & sometimes overlooked is with insurance, probably because it’s not as exciting as the idea of robotaxis. Yet it is a similar story to the one above; Tesla has a very connected network of cars with tons of data, and this should enable them to offer data-driven insurance to customers that ends up being increasingly accurate as this network grows.Tesla also benefits from some switching costs, and this is driven by their network of Superchargers. The company has worked hard to build out this network & ensure that Tesla drivers can access these Superchargers easily – but, originally these were only available for Tesla drivers. This is clearly a switching cost, but Tesla has recently trialed opening up its Supercharger network to non-Tesla EVs. Whilst this reduces Tesla’s competitive advantage, I think it was always going to be eroded away over time as EV adoption increases – so perhaps this pilot is Tesla’s way of getting ahead of the curve?Tesla also has the benefit of low-cost production, driven by their vertical integration on battery technology, direct-to-consumer sales, and the ultra-efficient Gigafactories. In fact, a view of their TTM operating margin compared to the incumbents is quite incredible – particularly when you consider that Tesla continues to be less established, and probably has even more room to expand these margins, particularly with the potential for additional software offerings.Tesla Q1'22 Investor PresentationThe final moat that I’ll give Tesla credit for is their brand, and I don’t think anyone can argue with this – but just in case you want to, I’ll add in the below graphic comparing Tesla’s ad-spending per car sold back in 2021.Visual CapitalistThis is another one of the many reasons why Tesla is able to churn out industry-leading margins.Despite this lack of marketing, demand is still substantially outweighing supply, as per Elon Musk on the Q1’22 conference call:I should mention that it may seem like maybe we’re being unreasonable about increasing the prices of our vehicles, given that we had record profitability this quarter, but the wait list for our vehicles is quite long. And some of the vehicles that people will order, the wait list extends into next year. So, our prices of vehicles ordered now are really anticipating supplier and logistics cost growth that we’re aware of and believe will happen over the next 6 to 12 months. So, that’s why we have the price increases today because the car ordered today will arrive, in some cases, a year from now. So, we have a very long wait list, and we’re obviously not demand-limited. We are production-limited by -- very much production-limited.As you can also see, a strong brand gives pricing power & this is just one other lever Tesla can pull in order to keep delivering strong financial results.All in all, there are several powerful economic moats that should help Tesla protect itself from the ever-emerging competition.OutlookI’ll be honest, it’s pretty difficult to give an exact figure on the potential opportunity for Tesla – particularly if the company succeeds with its full self-driving, the robotaxi network, or even the Optimus robot. I think all any shareholder needs to know is that the opportunity is huge, and it’s only getting bigger.If I take a step back and focus solely on the EV market, the opportunity remains both fast growing and enormous. According to Facts and Factors, the global electric vehicle market is expected to grow from a size of $185 billion in 2021 to $980 billion by 2028, implying a CAGR of 24.5% over that period – with Tesla leading the charge (geddit?).ManagementWhen it comes to fast-paced, innovative companies, I always aim to find founder-led businesses where inside ownership is high. I’ll start by highlighting that, even though Elon Musk is not the founder of Tesla, he certainly has his heart and soul in the business. If he walks like a founder and talks like a founder, I’m more than happy to consider Elon Musk a founder.Tesla Q1'22 Investor PresentationI also want to invest in companies where leadership has skin-in-the-game, and Mr. Musk has this in abundance. This is a CEO who understands what skin-in-the-game truly means, as he shows in this 2019 tweet.But do the numbers back that up? They certainly do, as Elon Musk owns ~25% of the company – no wonder he’s the richest man in the world!Tesla 2021 Proxy Filing / ExcelI also like to take a quick look on Glassdoor to get an idea about the culture of a company, and Tesla gets somewhat underwhelming scores from the ~7,000 reviews left by employees. Any score over 4.0 is impressive, and Tesla fails to obtain this in any category. The score is particularly low on Work/Life Balance, which probably isn’t a surprise to anyone – whilst Elon Musk has undoubtedly driven the world forward with some of his companies, he also has a reputation of being tough to work for. He has incredibly high expectations from himself and those around him – unfortunately, this appears to have led to a culture within Tesla that I would not be too happy with as a shareholder.GlassdoorFinancialsTesla’s financial profile over the last few years is something of a turnaround story, starting with their balance sheet. Back in 2018, the company had almost 3x as much debt as they had cash. Fast-forward to 2021, and that has completed flipped, with cash now representing more than 3x their debt. This has been driven by the company's ability to ramp up sales and bring in additional cash flow to shore up the balance sheet, as well as raising funds through additional share offerings. The bankruptcy risk to Tesla around 2018 was well documented, but clearly now it is a company in an extremely robust financial position that will serve it will for the future.Tesla SEC Filings / ExcelRevenue growth has been lumpy over this period, at times impacted by the needed ramp up of its production facilities as well as the impact of lockdowns during the pandemic – but 2021 saw revenue absolutely soar as the world opened up again, and consumer spending took off like a rocket.Margins and cash flow for this business are impressive, whichever way you look at it. The EBIT margin has seen astounding expansion for such a capital-intensive business, and similarly the ~$11.5 billion in operating cash flow in 2021 is incredibly strong. It makes you wonder how a business goes from the brink of bankruptcy to a cash generating machine in just a few years.ValuationAs with all high growth, innovative companies, valuation is tough – and for a company who believe their future products to be life changing, it is even more difficult. I believe that my approach will give me an idea about whether Tesla is insanely overvalued or undervalued, but valuation is the final thing I look at - the quality of the business itself is far more important in the long run.Tesla SEC Filings / ExcelMy model assumes revenue growth of 50% for 2022, following Tesla's guidance of 50% YoY growth in vehicle deliveries driven by the continued strong demand and production ramp up despite the continued issues in Shanghai. I have then assumed a slowdown in revenue growth through to 2026. It’s perfectly reasonable to think that this is too conservative, however I would always prefer to be too conservative rather than too optimistic.I have also assumed a gradual margin expansion as Tesla continues to benefit from its scale, and those investments in vertically integrated aspects of its business start to play out.I assumed that shares outstanding will increase by 5% annually through to 2026. Tesla has a history of diluting shareholders, however I still think that this assumption is prudent – as Tesla continues to produce more cash, I doubt it will continue to dilute shareholders at a dramatic rate.Finally, I’ve chosen a wide range of EV / FCF multiples for the low, medium, and high scenario. This represents my own uncertainty about the future of Tesla, the fact that it is priced for a lot of success, but also the fact that it could see success that is far beyond my imagination.Put this all together, and my mid-range scenario implies an 11% CAGR of Tesla shares from today through to 2026.RisksThere are a number of potential risks for Tesla, as my fellow Seeking Alpha highlights in this detailed article. I do think the approach is very \"glass half empty,\" but it is useful for potential shareholders to familiarize themselves with these risks.In my eyes, there are a couple of main risks. First is competition – EVs are growing in popularity, and there are a number of new EV-specialist car manufacturers as well as the incumbents who are all coming to do battle with Tesla. Clearly, Tesla has a huge head start, but shareholders should keep an eye on any competitors who appear to be closing this gap.The second risk primarily relates to China. Clearly there are geopolitical risks, and China is also one of the most competitive markets for electric vehicles – and, it’s likely to grow and be the largest. If Tesla is impacted by geopolitics, then it could suffer greatly. Just take a look at the below table of car sales over the past few years to see the impact that China is having on Tesla’s business, with its growth outpacing the US and Other substantially.Tesla 2021 Annual ReportThe final risk is that of a recession, which could certainly be looming. Whilst I think Tesla does benefit from secular tailwinds, I would not be surprised to see consumers cut back on spending for new, somewhat luxury cars - and I'd expect the automotive industry to be hit particularly hard.SummaryAn investment in Tesla is certainly not for the faint hearted, and I want to highlight that my current view on Tesla is a tentative buy rating. I wouldn’t be surprised to hear either of the following statements in 2030:“Remember when we used to drive cars? The fact that we’ve got these Tesla robotaxis is crazy when you think about it, they’ve taken over the world!”Or“Tesla sure was overhyped. They really struggled in China, and in the end they ended up just being a car company – despite what I’d seen on Reddit, poor Elon.”Personally, I believe that Tesla does have a bright future – even if I can’t predict it with much certainty, there are so many tailwinds driving this brilliant company forward. The share price today offers a much more attractive risk / reward profile, and that I why I would be happy to add this ground-breaking company to my investment portfolio.","news_type":1},"isVote":1,"tweetType":1,"viewCount":9,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9010293284,"gmtCreate":1648383336501,"gmtModify":1676534332733,"author":{"id":"3571573518430699","authorId":"3571573518430699","name":"RBeaver","avatar":"https://static.tigerbbs.com/c8dfd9e9b5a26e0a8d752c4ae3fe2f57","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571573518430699","authorIdStr":"3571573518430699"},"themes":[],"htmlText":"Y","listText":"Y","text":"Y","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010293284","repostId":"2221071429","repostType":4,"repost":{"id":"2221071429","kind":"news","pubTimestamp":1648343569,"share":"https://ttm.financial/m/news/2221071429?lang=&edition=fundamental","pubTime":"2022-03-27 09:12","market":"us","language":"en","title":"Alphabet Vs. Meta: One Is The Much Better Buy","url":"https://stock-news.laohu8.com/highlight/detail?id=2221071429","media":"seekingalpha","summary":"FotoMaximum/iStock via Getty ImagesAlphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) and Meta (NASDAQ:FB) are fa","content":"<html><head></head><body><p></p><p><img src=\"https://static.tigerbbs.com/f8682b68644fb0e700ccf73bfd598736\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>FotoMaximum/iStock via Getty Images</p><p></p><p>Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) and Meta (NASDAQ:FB) are famous for enriching millions of investors over the last eight years.</p><p><b> Alphabet And Meta Returns Since 2013</b></p><p></p><p><img src=\"https://static.tigerbbs.com/c7de1c1120c62c3dad9c49e5d4e5a134\" tg-width=\"640\" tg-height=\"112\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Portfolio Visualizer Premium</p><p></p><p>In fact, both have crushed even the red hot Nasdaq during <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the hottest tech bull runs in US history, delivering Buffett-like 25% returns that resulted in an 8X return.</p><p></p><p><img src=\"https://static.tigerbbs.com/ad549342543f2ced891f57b6c43bb4fd\" tg-width=\"640\" tg-height=\"388\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Ycharts</p><p></p><p>While the market is currently in a correction, and growth stocks have been especially hard hit, Meta has been crushed, falling into a 50% bear market.</p><p>I&#39;ve bought both growth legends in this correction, but one is a core growth name in my correction plan, and the other is a non-core holding.</p><p>So let me explain why both Meta and Alphabet are great companies, worth owning, and even buying more of right now.</p><p>However, a careful examination of both of their fundamentals makes it clear that Alphabet is the global king of digital marketing, and this is likely to remain the case for the foreseeable future.</p><h2>The Challenge Facing Digital Marketers Right Now</h2><p></p><p><img src=\"https://static.tigerbbs.com/a556ac1fd6482c83da2db4af6d5b7540\" tg-width=\"640\" tg-height=\"637\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>eMarketer</p><p></p><p>GOOG, FB, and Amazon (AMZN) have a triopoly on US digital marketing, commanding an estimated 65% of the market.</p><p>Both GOOG and FB are losing market share to AMZN because Amazon&#39;s ads are 3X as effective at converting to actual sales.</p><p>That&#39;s because Amazon has spent decades gathering customer sales data and knows what its customers want better than anyone on earth.</p><p>Apple&#39;s (AAPL) recent privacy shift in iOS, makes it much easier to opt out of data tracking, and 62% of iPhone users have indeed opted out.</p><p>This has proven a hammer blow to FB, which management says could cost it $10 billion in 2022 alone.</p><p>GOOG is less at risk since it still has the search data it can use to optimize for targeted ads.</p><p>AMZN is the least at risk since it relies far less on cookie tracking than its rivals.</p><p>This kind of business model disruption is part of FB and GOOG&#39;s risk profile, which brings us to our first point of comparison.</p><h2>Long-Term Risk Management: Winner Alphabet</h2><p>How do we quantify, monitor, and track such a complex risk profile? By doing what big institutions do.</p><h2>Material Financial ESG Risk Analysis: How Large Institutions Measure Total Risk</h2><ul><li>4 Things You Need To Know To Profit From ESG Investing</li><li>What Investors Need To Know About Company Long-Term Risk Management (Video)</li></ul><p>Here is a special report that outlines the most important aspects of understanding long-term ESG financial risks for your investments.</p><ul><li>ESG is NOT &#34;political or personal ethics based investing&#34;</li><li>it&#39;s total long-term risk management analysis</li></ul><blockquote><i><b>ESG is just normal risk by another name.</b></i><i>&#34; Simon MacMahon, head of ESG and corporate governance research, Sustainalytics&#34; - Morningstar</i></blockquote><blockquote><i>ESG factors are taken into consideration, alongside all other credit factors, when we consider they are relevant to and have or may have a material influence on creditworthiness.&#34; - S&amp;P</i></blockquote><p>ESG is a measure of risk, not of ethics, political correctness, or personal opinion.</p><p>S&amp;P, Fitch, Moody&#39;s, DBRS (Canadian rating agency), AMBest (insurance rating agency), R&amp;I Credit Rating (Japanese rating agency), and the Japan Credit Rating Agency <b>have been using ESG models in their credit ratings for decades.</b></p><ul><li><b>every credit rating for the last 30 years has included these risk models, you just weren&#39;t aware of it </b></li><li>credit and risk management ratings make up 41% of the DK safety and quality model</li><li>dividend/balance sheet/risk ratings make up 82% of the DK safety and quality model</li></ul><p>Every major financial institution also tracks long-term risk management and considers it essential to sound long-term investing including,</p><ul><li>BlackRock</li><li>MSCI</li><li>JPMorgan</li><li>Wells Fargo</li><li>Bank of America</li><li>Deutsche Bank</li><li>virtually every major financial institution in the world</li></ul><p>We use six rating agencies to get a consensus risk management percentile, comparing how well a company manages its risk relative to its peers.</p><p>For context:</p><ul><li>master list average: 62nd percentile</li><li>dividend kings: 63rd percentile</li><li>dividend aristocrats: 67th percentile</li><li>Ultra SWANs: 71st percentile</li></ul><p>The better a company&#39;s risk management consensus the more likely it will be able to adapt to challenges to its business model, as we&#39;re seeing now with GOOG and FB.</p><h4>Meta Long-Term Risk-Management Consensus</h4><table><colgroup></colgroup><tbody><tr><td><b>Rating Agency</b></td><td><b>Industry Percentile</b></td><td><p><b>Rating Agency Classification</b></p></td></tr><tr><td>MSCI 37 Metric Model</td><td>26.0%</td><td><p>B Industry Laggard, Negative Trend</p></td></tr><tr><td>Morningstar/Sustainalytics 20 Metric Model</td><td>0.7%</td><td><p>32.4/100 High-Risk</p></td></tr><tr><td>Reuters&#39;/Refinitiv 500+ Metric Model</td><td>88.9%</td><td>Good</td></tr><tr><td>S&amp;P 1,000+ Metric Model</td><td>18.0%</td><td><p>Very Poor- Stable Trend</p></td></tr><tr><td>Just Capital 19 Metric Model</td><td>50.0%</td><td>Average</td></tr><tr><td>FactSet</td><td>30.0%</td><td><p>Below-Average Stable Trend</p></td></tr><tr><td>Morningstar Global Percentile</td><td>30.6%</td><td>Below-Average</td></tr><tr><td>Just Capital Global Percentile</td><td>25.4%</td><td>Poor</td></tr><tr><td><b>Consensus</b></td><td><b>33.7%</b></td><td><p><b>Below-Average (verging on poor) - medium risk</b></p></td></tr></tbody></table><p><i>(Sources: MSCI, Morningstar, Reuters&#39;, Just Capital, S&amp;P, FactSet Research)</i></p><p>The rating agency consensus is that FB is below-average at managing its risk, verging on poor.</p><p>Now contrast that with GOOG.</p><h4>Alphabet Long-Term Risk-Management Consensus</h4><table><colgroup></colgroup><tbody><tr><td><b>Rating Agency</b></td><td><b>Industry Percentile</b></td><td><p><b>Rating Agency Classification</b></p></td></tr><tr><td>MSCI 37 Metric Model</td><td>53.0%</td><td><p>BBB Average, Negative Trend</p></td></tr><tr><td>Morningstar/Sustainalytics 20 Metric Model</td><td>39.7%</td><td><p>24.3/100 Medium-Risk</p></td></tr><tr><td>Reuters&#39;/Refinitiv 500+ Metric Model</td><td>85.88%</td><td>Good</td></tr><tr><td>S&amp;P 1,000+ Metric Model</td><td>47.0%</td><td><p>Average- Positive Trend</p></td></tr><tr><td>Just Capital 19 Metric Model</td><td>100.00%</td><td><p>#1 Industry Leader</p></td></tr><tr><td>FactSet</td><td>30.0%</td><td><p>Below-Average Stable Trend</p></td></tr><tr><td>Morningstar Global Percentile</td><td>60.88</td><td>Above-Average</td></tr><tr><td>Just Capital Global Percentile</td><td>100%</td><td><p>#1 Industry Leader, #1 Company In America</p></td></tr><tr><td><b>Consensus</b></td><td><b>64.6%</b></td><td><b>Above-Average - low risk </b></td></tr></tbody></table><p><i>(Sources: MSCI, Morningstar, Reuters&#39;, Just Capital, S&amp;P, FactSet Research)</i></p><p>GOOG doesn&#39;t just manage its long-term risk better than FB, it&#39;s beating FB by 31%.</p><ul><li>far more likely to successfully deal with privacy policy shifts, regulators, and every other major risk to its business model</li></ul><p>And risk-management isn&#39;t the only factor in which GOOG outshines FB by a wide margin.</p><h2>Overall Quality: Winner, Alphabet</h2><p>The Dividend King&#39;s overall quality scores are based on a 241 point model that includes:</p><ul><li><p>dividend safety</p></li><li><p>balance sheet strength</p></li><li><p>credit ratings</p></li><li><p>credit default swap medium-term bankruptcy risk data</p></li><li><p>short and long-term bankruptcy risk</p></li><li><p>accounting and corporate fraud risk</p></li><li><p>profitability and business model</p></li><li><p>growth consensus estimates</p></li><li><p>management growth guidance</p></li><li><p>historical earnings growth rates</p></li><li><p>historical cash flow growth rates</p></li><li><p>historical dividend growth rates</p></li><li><p>historical sales growth rates</p></li><li><p>cost of capital</p></li><li><p>long-term risk-management scores from MSCI, Morningstar, FactSet, S&amp;P, Reuters&#39;/Refinitiv, and Just Capital</p></li><li><p>management quality</p></li><li><p>dividend friendly corporate culture/income dependability</p></li><li><p>long-term total returns (a Ben Graham sign of quality)</p></li><li><p>analyst consensus long-term return potential</p></li></ul><p>It actually includes over 1,000 metrics if you count everything factored in by 12 rating agencies we use to assess fundamental risk.</p><ul><li><p>credit and risk management ratings make up 41% of the DK safety and quality model</p></li><li><p>dividend/balance sheet/risk ratings make up 82% of the DK safety and quality model</p></li></ul><p>How do we know that our safety and quality model works well?</p><p>During the two worst recessions in 75 years, our safety model predicted 87% of blue-chip dividend cuts during the ultimate baptism by fire for any dividend safety model.</p><p>That&#39;s because we don&#39;t miss anything important about a company&#39;s fundamental safety and quality.</p><p>So how do GOOG and FB stack up on one of the world&#39;s most comprehensive and accurate safety and quality models?</p><h2>Meta: A Speculative 11/19 Quality Blue-Chip</h2><p><b>Meta Balance Sheet Safety</b></p><table><colgroup></colgroup><tbody><tr><td><b>Rating</b></td><td><b>Dividend Kings Safety Score (151 Point Safety Model)</b></td><td><b>Approximate Dividend Cut Risk (Average Recession)</b></td><td><p><b>Approximate Dividend Cut Risk In Pandemic Level Recession</b></p></td></tr><tr><td>1 - unsafe</td><td>0% to 20%</td><td>over 4%</td><td>16+%</td></tr><tr><td>2- below average</td><td>21% to 40%</td><td>over 2%</td><td>8% to 16%</td></tr><tr><td>3 - average</td><td>41% to 60%</td><td>2%</td><td>4% to 8%</td></tr><tr><td>4 - safe</td><td>61% to 80%</td><td>1%</td><td>2% to 4%</td></tr><tr><td>5- very safe</td><td>81% to 100%</td><td>0.5%</td><td>1% to 2%</td></tr><tr><td><b>FB</b></td><td><b>100%</b></td><td><b>NA</b></td><td><b>NA</b></td></tr><tr><td>Risk Rating</td><td>Medium Risk (34th industry percentile risk-management consensus)</td><td>Effective AAA stable outlook credit rating 0.07% 30-year bankruptcy risk</td><td>2.5% OR LESS Max Risk Cap Recommendation - speculative, turnaround stock</td></tr></tbody></table><p><b>Long-Term Dependability</b></p><table><colgroup></colgroup><tbody><tr><td><b>Company</b></td><td><b>DK Long-Term Dependability Score</b></td><td><b>Interpretation</b></td><td><b>Points</b></td></tr><tr><td>Non-Dependable Companies</td><td>21% or below</td><td>Poor Dependability</td><td>1</td></tr><tr><td>Low Dependability Companies</td><td>22% to 60%</td><td>Below-Average Dependability</td><td>2</td></tr><tr><td>S&amp;P 500/Industry Average</td><td>61% (58% to 70% range)</td><td>Average Dependability</td><td>3</td></tr><tr><td>Above-Average</td><td>71% to 80%</td><td>Very Dependable</td><td>4</td></tr><tr><td>Very Good</td><td>81% or higher</td><td>Exceptional Dependability</td><td>5</td></tr><tr><td><b>FB</b></td><td><b>67%</b></td><td><b>Average Dependability</b></td><td><b>3</b></td></tr></tbody></table><p><b>Overall Quality</b></p><table><colgroup></colgroup><tbody><tr><td><b>FB</b></td><td><b>Final Score</b></td><td><b>Rating</b></td></tr><tr><td>Safety</td><td>100%</td><td>5/5 very safe</td></tr><tr><td>Business Model</td><td>100%</td><td>3/3 wide moat</td></tr><tr><td>Dependability</td><td>67%</td><td>3/5 average dependability</td></tr><tr><td><b>Total</b></td><td><b>84%</b></td><td><b>11/13 Speculative Blue-Chip</b></td></tr><tr><td>Risk Rating</td><td><p>2/3 Medium Risk</p></td><td></td></tr><tr><td>2.5% OR LESS Max Risk Cap Rec - speculative, turnaround stock</td><td><p>20% Margin of Safety For A Potentially Good Buy</p></td><td></td></tr></tbody></table><p>And here&#39;s GOOG.</p><h2>Alphabet: A 13/13 Quality Ultra SWAN</h2><p><b>Alphabet Balance Sheet Safety</b></p><table><colgroup></colgroup><tbody><tr><td><b>Rating</b></td><td><b>Dividend Kings Safety Score (151 Point Safety Model)</b></td><td><b>Approximate Dividend Cut Risk (Average Recession)</b></td><td><p><b>Approximate Dividend Cut Risk In Pandemic Level Recession</b></p></td></tr><tr><td>1 - unsafe</td><td>0% to 20%</td><td>over 4%</td><td>16+%</td></tr><tr><td>2- below average</td><td>21% to 40%</td><td>over 2%</td><td>8% to 16%</td></tr><tr><td>3 - average</td><td>41% to 60%</td><td>2%</td><td>4% to 8%</td></tr><tr><td>4 - safe</td><td>61% to 80%</td><td>1%</td><td>2% to 4%</td></tr><tr><td>5- very safe</td><td>81% to 100%</td><td>0.5%</td><td>1% to 2%</td></tr><tr><td><b>GOOG</b></td><td><b>100%</b></td><td><b>NA</b></td><td><b>NA</b></td></tr><tr><td>Risk Rating</td><td>Low Risk (65th industry percentile risk-management consensus)</td><td>AA+ stable outlook credit rating 0.29% 30-year bankruptcy risk</td><td>20% OR LESS Max Risk Cap Recommendation</td></tr></tbody></table><p><b>Long-Term Dependability</b></p><table><colgroup></colgroup><tbody><tr><td><b>Company</b></td><td><b>DK Long-Term Dependability Score</b></td><td><b>Interpretation</b></td><td><b>Points</b></td></tr><tr><td>Non-Dependable Companies</td><td>21% or below</td><td>Poor Dependability</td><td>1</td></tr><tr><td>Low Dependability Companies</td><td>22% to 60%</td><td>Below-Average Dependability</td><td>2</td></tr><tr><td>S&amp;P 500/Industry Average</td><td>61% (58% to 70% range)</td><td>Average Dependability</td><td>3</td></tr><tr><td>Above-Average</td><td>71% to 80%</td><td>Very Dependable</td><td>4</td></tr><tr><td>Very Good</td><td>81% or higher</td><td>Exceptional Dependability</td><td>5</td></tr><tr><td><b>GOOG</b></td><td><b>89%</b></td><td><b>Exceptional Dependability</b></td><td><b>5</b></td></tr></tbody></table><p><b>Overall Quality</b></p><table><colgroup></colgroup><tbody><tr><td><b>GOOG</b></td><td><b>Final Score</b></td><td><b>Rating</b></td></tr><tr><td>Safety</td><td>100%</td><td>5/5 very safe</td></tr><tr><td>Business Model</td><td>100%</td><td>3/3 wide moat</td></tr><tr><td>Dependability</td><td>89%</td><td>5/5 exceptional</td></tr><tr><td><b>Total</b></td><td><b>95%</b></td><td><b>13/13 Ultra SWAN</b></td></tr><tr><td>Risk Rating</td><td>3/3 Low Risk</td><td></td></tr><tr><td>20% OR LESS Max Risk Cap Rec</td><td><p>5% Margin of Safety For A Potentially Good Buy</p></td><td></td></tr></tbody></table><ul><li>Meta: 114th highest quality company on the Masterlist: 78th percentile</li><li>Alphabet: 39th highest quality: 92nd percentile</li></ul><p>Both companies are exceptionally high quality given that our company database is one of the best in the world.</p><p>The DK 500 Master List includes the world&#39;s highest quality companies including:</p><ul><li><p>All dividend champions</p></li><li><p>All dividend aristocrats</p></li><li><p>All dividend kings</p></li><li><p>All global aristocrats (such as BTI, ENB, and NVS)</p></li><li><p>All 13/13 Ultra Swans (as close to perfect quality as exists on Wall Street)</p></li><li>48 of the world&#39;s best growth stocks (on its way to 100)</li></ul><p>But when it comes to overall quality, factoring in over 1,000 fundamental metrics, the winner is clearly once more Alphabet.</p><p>Why is GOOG the hands-down winner in this quality fight with FB?</p><table><colgroup></colgroup><tbody><tr><td><b>Company</b></td><td><b>Quality Rating (out Of 13)</b></td><td><b>Quality Score (Out Of 100)</b></td><td><b>Dividend/Balance Sheet Safety Rating (out of 5)</b></td><td><b>Safety Score (Out Of 100)</b></td><td><b>Dependability Rating (Out Of 5)</b></td><td><b>Dependability Score (out Of 100)</b></td></tr><tr><td><a href=\"https://laohu8.com/S/FB\">Meta Platforms</a></td><td>11 Speculative Blue-Chip</td><td>84%</td><td>5 Very Safe</td><td>100%</td><td>3 average</td><td>67%</td></tr><tr><td>Alphabet</td><td>13 Ultra SWAN</td><td>95%</td><td>5 Very Safe</td><td>100%</td><td>5 exceptional</td><td>89%</td></tr></tbody></table><p><i>(Source: DK Research Terminal)</i></p><p>Both FB and Meta have exceptionally strong balance sheets, making the risk of bankruptcy as close to zero as you can find on Wall Street.</p><h4>Alphabet&#39;s Balance Sheet: AA+ Rated By S&amp;P</h4><p></p><p><img src=\"https://static.tigerbbs.com/a13f13c309fa748452dfea0afb27ebdf\" tg-width=\"491\" tg-height=\"373\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>GuruFocus Premium</p><p></p><p>GOOG has $140 billion in cash and just $13 billion in debt.</p><p>Its advanced accounting metrics (F, Z, and M-score) are exceptional.</p><ul><li>F-score is a measure of short-term bankruptcy risk</li><li>4+ is safe, 7+ very safe and GOOG&#39;s is 8</li><li>M-score is 84% to 92% accurate at forecasting long-term bankruptcies</li><li>1.81+ is safe, 3+ is very safe and GOOG&#39;s is 13.04</li><li>M-score is 76% accurate at catching accounting fraud, and 82.5% accurate at finding companies with honest accounting</li><li>-1.78 or lower is safe and GOOG&#39;s is -2.48</li></ul><h4>Meta&#39;s Balance Sheet: Effectively AAA</h4><p></p><p><img src=\"https://static.tigerbbs.com/68209d14c736c8328e46572200e82060\" tg-width=\"487\" tg-height=\"373\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>GuruFocus Premium</p><p></p><p>The only &#34;debt&#34; Meta has is receivables, it actually carries no long-term debt.</p><p>That is why it&#39;s the largest company on earth that doesn&#39;t pay the $500K per year for a credit rating.</p><p>However, given its current and historical advanced credit metrics, as well as its exceptionally strong solvency ratios (current ratio, quick ratio, and cash ratios), I&#39;m highly confident that it would be AAA-rated.</p><ul><li>because it&#39;s literally not possible for FB to default on debt it doesn&#39;t have</li></ul><table><colgroup></colgroup><tbody><tr><td><b>Credit Rating</b></td><td><b>30-Year Bankruptcy Probability</b></td></tr><tr><td>AAA (Meta)</td><td>0.07%</td></tr><tr><td>AA+ (Alphabet)</td><td>0.29%</td></tr><tr><td>AA</td><td>0.51%</td></tr><tr><td>AA-</td><td>0.55%</td></tr><tr><td>A+</td><td>0.60%</td></tr><tr><td>A</td><td>0.66%</td></tr><tr><td>A-</td><td>2.5%</td></tr><tr><td>BBB+</td><td>5%</td></tr><tr><td>BBB</td><td>7.5%</td></tr><tr><td>BBB-</td><td>11%</td></tr><tr><td>BB+</td><td>14%</td></tr><tr><td>BB</td><td>17%</td></tr><tr><td>BB-</td><td>21%</td></tr><tr><td>B+</td><td>25%</td></tr><tr><td>B</td><td>37%</td></tr><tr><td>B-</td><td>45%</td></tr><tr><td>CCC+</td><td>52%</td></tr><tr><td>CCC</td><td>59%</td></tr><tr><td>CCC-</td><td>65%</td></tr><tr><td>CC</td><td>70%</td></tr><tr><td>C</td><td>80%</td></tr><tr><td>D</td><td>100%</td></tr></tbody></table><p><i>(Sources: S&amp;P, University of St. Petersberg)</i></p><p>This means the fundamental risk of losing all your money over the next 30 years buying FB or GOOG today is approximately</p><ul><li>1 in 1,429 for FB</li><li>1 in 345 for GOOG</li></ul><p>And both companies&#39; balance sheets are expected to keep getting stronger over time.</p><p><b>Alphabet: Consensus $441 Billion In Net Cash By 2027 </b></p><p></p><p><img src=\"https://static.tigerbbs.com/76c3a6843c329c2b16d3839e0e124674\" tg-width=\"640\" tg-height=\"308\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>FactSet Research Terminal</p><p></p><p><b>Meta: Consensus $71 Billion In Net Cash By 2027</b></p><p></p><p><img src=\"https://static.tigerbbs.com/ec44680d5d8318ba8ed74d4b40ae28e9\" tg-width=\"640\" tg-height=\"268\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>FactSet Research Terminal</p><p></p><p>Now let&#39;s consider profitability, Wall Street&#39;s favorite quality proxy.</p><h2>Profitability: Winner, Meta By A Small Amount</h2><p><b>Meta Profitability Vs Peers</b></p><p></p><p><img src=\"https://static.tigerbbs.com/9e2b501a3cd5bb6da5299422362bed67\" tg-width=\"486\" tg-height=\"342\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Gurufocus Premium</p><p></p><p><b>Alphabet Profitability Vs Peers</b></p><p></p><p><img src=\"https://static.tigerbbs.com/926a2ab456d218b3ef8cd49552df5565\" tg-width=\"488\" tg-height=\"345\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Gurufocus Premium</p><p></p><p>Both companies are profit-minting machines.</p><p></p><p><img src=\"https://static.tigerbbs.com/673b7f04eadaf433b4fe704dda171180\" tg-width=\"640\" tg-height=\"391\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Ycharts</p><p></p><p>These are two of the most profitable companies on earth, and their industry-leading profitability has been stable or improving for over a decade, confirming a wide and stable moat.</p><p></p><p><img src=\"https://static.tigerbbs.com/9a1b491d8a76dd73ddc3b2ea13e999c8\" tg-width=\"640\" tg-height=\"187\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>FactSet Research Terminal</p><p></p><p>FB&#39;s free cash flow is expected to keep growing and reach $77 billion in 2027.</p><p>This is expected to result in impressive buybacks in the coming years.</p><ul><li>$219 billion in consensus buybacks through 2027</li><li>38% of shares at current valuations</li></ul><p></p><p><img src=\"https://static.tigerbbs.com/93f9e72220887060384ea19dc975503c\" tg-width=\"640\" tg-height=\"165\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>FactSet Research Terminal</p><p></p><p>GOOG&#39;s annual free cash flow is expected to grow to $139 billion in 2027, allowing it to undertake even more impressive buybacks.</p><ul><li>$380 billion in consensus buybacks through 2027</li><li>21% of shares at current valuations</li></ul><p>Now let&#39;s consider one important profitability metric in particular.</p><p>Return on capital or ROC is Joel Greenblatt&#39;s gold standard proxy for quality and moatiness.</p><p>ROC = pre-tax profit/operating capital (the money it takes to run the business).</p><ul><li>S&amp;P 500&#39;s average in 2021 was 14.6% (average investment pays for itself in 7 years)</li></ul><table><colgroup></colgroup><tbody><tr><td><b>Company</b></td><td><b>ROC (Greenblatt)</b></td><td><b>ROC Industry Percentile</b></td><td><b>13-Year Median ROC</b></td><td><b>5-Year ROC Trend (OTC:CAGR)</b></td></tr><tr><td>Meta Platforms</td><td>74%</td><td>65%</td><td>95%</td><td>-16%</td></tr><tr><td>Alphabet</td><td>87%</td><td>67%</td><td>74%</td><td>-7%</td></tr></tbody></table><p><i>(Source: DK Research Terminal, FactSet)</i></p><p>In the past year, GOOG&#39;s return on capital was higher than FB&#39;s and it&#39;s also above its 13-year median indicating a more stable moat.</p><p>In other words, when it comes to profitability, FB edges out GOOG by a small amount, except in terms of return on capital, where it&#39;s once more the winner.</p><h2>Valuation: Winner, Meta</h2><table><colgroup></colgroup><tbody><tr><td><b>Company</b></td><td><b>Average Fair Value</b></td><td><b>Current Price</b></td><td><b>Discount To Fair Value</b></td><td><b>DK Rating</b></td><td><b>PE 2022</b></td><td><b>PEG 2022</b></td></tr><tr><td>Meta Platforms</td><td>$265.75</td><td>$214.35</td><td>19.6%</td><td>Potentially Reasonable Buy</td><td>17.19</td><td>1.49</td></tr><tr><td>Alphabet</td><td>$3,161.89</td><td>$2,771.92</td><td>12.3%</td><td>Potentially Good Buy</td><td>23.51</td><td>1.67</td></tr></tbody></table><p><i>(Source: DK Research Terminal, FactSet)</i></p><p>FB is trading at a slightly lower valuation and a higher margin of safety, though not quite high enough for me to consider it a good buy.</p><ul><li>20% discount is needed to make FB a potentially good buy given its lower quality and risk profile</li></ul><p>If we back out cash we see that FB is once more the more undervalued company.</p><ul><li>FB EV/EBITDA: 9.5</li><li>GOOG EV/EBITDA: 14.5</li></ul><p>However, both companies are trading at highly attractive valuations.</p><table><colgroup></colgroup><tbody><tr><td><b>Company</b></td><td><b>12-Month Consensus Total Return Potential</b></td><td><b>12-Month Fundamentally Justified Upside Total Return Potential</b></td></tr><tr><td>Meta Platforms</td><td>48.47%</td><td>23.98%</td></tr><tr><td>Alphabet</td><td>25.77%</td><td>14.11%</td></tr></tbody></table><p><i>(Source: DK Research Terminal, FactSet)</i></p><p>This is why analysts expect both to deliver very strong returns, though FB potentially much more than GOOG.</p><p>Of course, what happens in the next year doesn&#39;t matter as much as the kind of returns both companies can deliver over the long-term.</p><h2>Long-Term Total Return Potential: Winner, Alphabet</h2><table><colgroup></colgroup><tbody><tr><td><b>Company</b></td><td><b>Yield</b></td><td><b>FactSet Long-Term Consensus Growth Rate</b></td><td><b>LT Consensus Total Return Potential</b></td><td><b>Risk-Adjusted Expected Return</b></td></tr><tr><td>Meta Platforms</td><td>0.00%</td><td>11.5%</td><td>11.5%</td><td>8.1%</td></tr><tr><td>Alphabet</td><td>0.00%</td><td>14.1%</td><td>14.1%</td><td>9.9%</td></tr></tbody></table><p><i>(Source: DK Research Terminal, FactSet)</i></p><p>GOOG is expected to grow significantly faster than FB over time, resulting in far better long-term returns.</p><table><colgroup></colgroup><tbody><tr><td><b>Investment Strategy</b></td><td><b>Yield</b></td><td><b>LT Consensus Growth</b></td><td><b>LT Consensus Total Return Potential</b></td><td><b>Long-Term Risk-Adjusted Expected Return</b></td><td><b>Long-Term Inflation And Risk-Adjusted Expected Returns</b></td><td><b>Years To Double Your Inflation &amp; Risk-Adjusted Wealth</b></td><td><p><b>10 Year Inflation And Risk-Adjusted Return</b></p></td></tr><tr><td>Europe</td><td>2.6%</td><td>12.8%</td><td>15.4%</td><td>10.7%</td><td>8.6%</td><td>8.4</td><td>2.27</td></tr><tr><td>Value</td><td>2.1%</td><td>12.1%</td><td>14.1%</td><td>9.9%</td><td>7.7%</td><td>9.3</td><td>2.10</td></tr><tr><td><b>Alphabet</b></td><td><b>0.0%</b></td><td><b>14.1%</b></td><td><b>14.1%</b></td><td><b>9.9%</b></td><td><b>7.7%</b></td><td><b>9.4</b></td><td>2.10</td></tr><tr><td>High-Yield</td><td>2.8%</td><td>11.3%</td><td>14.1%</td><td>9.9%</td><td>7.7%</td><td>9.4</td><td>2.10</td></tr><tr><td>High-Yield + Growth</td><td>1.7%</td><td>11.0%</td><td>12.7%</td><td>8.9%</td><td>6.7%</td><td>10.8</td><td>1.91</td></tr><tr><td>Safe Midstream + Growth</td><td>3.3%</td><td>8.5%</td><td>11.8%</td><td>8.3%</td><td>6.1%</td><td>11.8</td><td>1.80</td></tr><tr><td><b>Meta</b></td><td><b>0.0%</b></td><td><b>11.50%</b></td><td><b>11.5%</b></td><td><b>8.1%</b></td><td><b>5.9%</b></td><td><b>12.3</b></td><td>1.77</td></tr><tr><td>Nasdaq (Growth)</td><td>0.8%</td><td>10.7%</td><td>11.5%</td><td>8.1%</td><td>5.9%</td><td>12.3</td><td>1.77</td></tr><tr><td>Safe Midstream</td><td>5.5%</td><td>6.0%</td><td>11.5%</td><td>8.1%</td><td>5.9%</td><td>12.3</td><td>1.77</td></tr><tr><td>Dividend Aristocrats</td><td>2.2%</td><td>8.9%</td><td>11.1%</td><td>7.8%</td><td>5.6%</td><td>12.9</td><td>1.72</td></tr><tr><td>REITs + Growth</td><td>1.8%</td><td>8.9%</td><td>10.6%</td><td>7.4%</td><td>5.2%</td><td>13.7</td><td>1.67</td></tr><tr><td>S&amp;P 500</td><td>1.4%</td><td>8.5%</td><td>9.9%</td><td>7.0%</td><td>4.8%</td><td>15.1</td><td>1.59</td></tr><tr><td>Realty Income</td><td>4.6%</td><td>5.2%</td><td>9.8%</td><td>6.9%</td><td>4.7%</td><td>15.4</td><td>1.58</td></tr><tr><td>Dividend Growth</td><td>1.6%</td><td>8.0%</td><td>9.6%</td><td>6.7%</td><td>4.5%</td><td>15.9</td><td>1.56</td></tr><tr><td>REITs</td><td>2.9%</td><td>6.5%</td><td>9.4%</td><td>6.6%</td><td>4.4%</td><td>16.4</td><td>1.54</td></tr><tr><td>60/40 Retirement Portfolio</td><td>2.1%</td><td>5.1%</td><td>7.2%</td><td>5.1%</td><td>2.9%</td><td>24.9</td><td>1.33</td></tr><tr><td>10-Year US Treasury</td><td>2.3%</td><td>0.0%</td><td>2.3%</td><td>1.6%</td><td>-0.5%</td><td>-131.1</td><td>0.95</td></tr></tbody></table><p><i>(Source: Morningstar, FactSet, Ycharts)</i></p><p>Both companies are expected to beat the S&amp;P 500 over time, though FB merely to match the Nasdaq while GOOG is expected to run circles around big tech.</p><p>What kind of difference does 2.6% per year in potential extra returns actually mean for your life?</p><h4>Inflation-Adjusted Consensus Return Forecast: $1,000 Initial Investment</h4><table><colgroup></colgroup><tbody><tr><td><b>Time Frame (Years)</b></td><td><b>7.7% CAGR Inflation-Adjusted S&amp;P Consensus</b></td><td><b>11.9% Inflation-Adjusted GOOG Consensus</b></td><td><b>9.3% CAGR Inflation-Adjusted FB Consensus</b></td><td><b>Difference Between Inflation Adjusted GOOG and FB Consensus Returns</b></td></tr><tr><td>5</td><td>$1,449.03</td><td>$1,756.06</td><td>$1,561.34</td><td>$194.71</td></tr><tr><td>10</td><td>$2,099.70</td><td>$3,083.73</td><td>$2,437.79</td><td>$645.95</td></tr><tr><td>15</td><td>$3,042.53</td><td>$5,415.21</td><td>$3,806.22</td><td>$1,608.99</td></tr><tr><td>20</td><td>$4,408.74</td><td>$9,509.42</td><td>$5,942.82</td><td>$3,566.60</td></tr><tr><td>25</td><td>$6,388.41</td><td>$16,699.08</td><td>$9,278.77</td><td>$7,420.31</td></tr><tr><td>30</td><td>$9,257.02</td><td>$29,324.53</td><td>$14,487.34</td><td>$14,837.19</td></tr></tbody></table><p><i>(Source: Morningstar, FactSet, Ycharts)</i></p><p>Both FB and GOOG are likely to generate good returns but GOOG could turn a modest investment today into a potentially small fortune in the coming decades.</p><table><colgroup></colgroup><tbody><tr><td><b>Time Frame (Years)</b></td><td><b>Ratio Inflation-Adjusted GOOG and FB Consensus</b></td></tr><tr><td>5</td><td>1.12</td></tr><tr><td>10</td><td>1.26</td></tr><tr><td>15</td><td>1.42</td></tr><tr><td>20</td><td>1.60</td></tr><tr><td>25</td><td>1.80</td></tr><tr><td>30</td><td>2.02</td></tr></tbody></table><p><i>(Source: DK Research Terminal, FactSet)</i></p><p>In fact, GOOG could potentially double FB&#39;s 30-year returns if both companies grow as analysts currently expect.</p><h2>Short &amp; Medium-Term Total Return Potential: Tie</h2><p><b>Meta 2024 Consensus Return Potential </b></p><p></p><p><img src=\"https://static.tigerbbs.com/5f903c32f63dbb4cfa5efa19492b8a0f\" tg-width=\"640\" tg-height=\"322\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>FAST Graphs, FactSet Research</p><p></p><p>FB growing at 11.5% is worth about 20.5X earnings based on the company&#39;s historical PEG ratio.</p><ul><li>analyst 12-month consensus forecast is for 21.9 PE</li></ul><p>This means that if FB grows as expected through 2024 it could deliver about 18% annular returns, far more than the 17% overvalued S&amp;P 500 is likely to generate.</p><p>What about the next five years?</p><h4>S&amp;P 500 2027 Consensus Return Potential</h4><table><colgroup></colgroup><tbody><tr><td><b>Year</b></td><td><b>Upside Potential By End of That Year</b></td><td><b>Consensus CAGR Return Potential By End of That Year</b></td><td><b>Probability-Weighted Return (Annualized)</b></td><td><p><b>Inflation And Risk-Adjusted Expected Returns</b></p></td></tr><tr><td>2027</td><td>34.75%</td><td>6.15%</td><td>4.61%</td><td>1.27%</td></tr></tbody></table><p><i>(Source: DK S&amp;P 500 Valuation And Total Return Tool)</i></p><p>For context, analysts expect 35% returns from the S&amp;P 500, which adjusted for inflation and risk is 1% compared to the market&#39;s historical 6% to 7% real return.</p><h4><b>Meta 2027 Consensus Return Potential</b></h4><p></p><p><img src=\"https://static.tigerbbs.com/66d31fef78452199e2961d8d89d65454\" tg-width=\"275\" tg-height=\"365\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>FAST Graphs, FactSet Research</p><p></p><p>FB could more than double your money if it grows as analysts expect over the next five years.</p><ul><li>3.2X the S&amp;P 500 consensus</li></ul><h2><b>GOOG 2024 Consensus Return Potential </b></h2><p></p><p><img src=\"https://static.tigerbbs.com/bc664bb22e0ba08e06de0e9bbed286c3\" tg-width=\"640\" tg-height=\"271\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>FAST Graphs, FactSet Research</p><p></p><p>GOOG could deliver 13% annual returns through 2024 if it grows as expected.</p><p>In the past GOOG has grown as slowly as 11% and billions of investors still paid 25.7X earnings, meaning that its historical market-fair value multiple of 25 to 26X earnings should still be valid.</p><h4><b>GOOG 2027 Consensus Return Potential</b></h4><p></p><p><img src=\"https://static.tigerbbs.com/e36d07a6169cb075678d6646bca01679\" tg-width=\"399\" tg-height=\"511\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>FAST Graphs, FactSet Research</p><p></p><p>Thanks to GOOG&#39;s faster growth rate analysts expect both companies to potentially deliver identical returns.</p><ul><li>about 14% annually over the next five years</li><li>also 3.2X better than the S&amp;P 500</li></ul><h2>Bottom Line: Both Are Great Companies But In The Battle Of Meta And Alphabet There Is One Clear Winner</h2><p></p><p><img src=\"https://static.tigerbbs.com/5dea4bc19b8951f30e1b2bea40e989b9\" tg-width=\"640\" tg-height=\"314\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Dividend Kings Automated Investment Decision Tool</p><p><img src=\"https://static.tigerbbs.com/507426f09d401e866c66a1f1dd597e4f\" tg-width=\"640\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Dividend Kings Automated Investment Decision Tool</p><p></p><p>Both Alphabet and Meta are wonderful companies, and as close to perfect growth blue-chip opportunities as you can find on Wall Street right now.</p><ul><li>far superior valuation</li><li>superior quality</li><li>superior long-term return potential to the S&amp;P 500</li></ul><p>However, when we examine both companies in their entirety one fact is clear.</p><ul><li>GOOG is a higher quality company</li><li>GOOG is a faster-growing company (<i>with potentially 2X better long-term return potential than FB</i>)</li><li>GOOG has far better long-term risk management (to deal with the disruption the digital advertising industry is currently facing)</li><li>GOOG has superior return on capital and a more stable moat</li></ul><p>While FB offers superior valuation and potentially double the short-term return potential, it&#39;s a speculative blue-chip currently going through the largest business pivot in the company&#39;s history.</p><p>In contrast, GOOG is a faster-growing Ultra SWAN that is expected to buy back almost $400 billion worth of stock in the next five years, double that of FB.</p><p>Simply put, if you can only buy one of these growth legends today, I recommend Alphabet, and that&#39;s why I have it as a core growth position in my correction plan.</p><p>Not just for the next few weeks, but all of 2022 and beyond.</p><p>Because at the end of the day, when you focus on safety and quality first, and prudent valuation and sound risk-management always, you never have to pray for luck on Wall Street, you make your own.</p><blockquote>Luck is what happens when preparation meets, opportunity.&#34; - Roman philosopher Seneca the younger</blockquote></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alphabet Vs. Meta: One Is The Much Better 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\">\nAlphabet Vs. Meta: One Is The Much Better Buy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-27 09:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4497464-alphabet-vs-meta-one-is-better-buy><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>FotoMaximum/iStock via Getty ImagesAlphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) and Meta (NASDAQ:FB) are famous for enriching millions of investors over the last eight years. Alphabet And Meta Returns Since ...</p>\n\n<a href=\"https://seekingalpha.com/article/4497464-alphabet-vs-meta-one-is-better-buy\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4554":"元宇宙及AR概念","BK4524":"宅经济概念","BK4553":"喜马拉雅资本持仓","BK4551":"寇图资本持仓","BK4548":"巴美列捷福持仓","BK4525":"远程办公概念","BK4508":"社交媒体","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4573":"虚拟现实","BK4527":"明星科技股","BK4077":"互动媒体与服务","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4579":"人工智能","BK4581":"高盛持仓","BK4550":"红杉资本持仓","BK4566":"资本集团","BK4503":"景林资产持仓"},"source_url":"https://seekingalpha.com/article/4497464-alphabet-vs-meta-one-is-better-buy","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2221071429","content_text":"FotoMaximum/iStock via Getty ImagesAlphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) and Meta (NASDAQ:FB) are famous for enriching millions of investors over the last eight years. Alphabet And Meta Returns Since 2013Portfolio Visualizer PremiumIn fact, both have crushed even the red hot Nasdaq during one of the hottest tech bull runs in US history, delivering Buffett-like 25% returns that resulted in an 8X return.YchartsWhile the market is currently in a correction, and growth stocks have been especially hard hit, Meta has been crushed, falling into a 50% bear market.I've bought both growth legends in this correction, but one is a core growth name in my correction plan, and the other is a non-core holding.So let me explain why both Meta and Alphabet are great companies, worth owning, and even buying more of right now.However, a careful examination of both of their fundamentals makes it clear that Alphabet is the global king of digital marketing, and this is likely to remain the case for the foreseeable future.The Challenge Facing Digital Marketers Right NoweMarketerGOOG, FB, and Amazon (AMZN) have a triopoly on US digital marketing, commanding an estimated 65% of the market.Both GOOG and FB are losing market share to AMZN because Amazon's ads are 3X as effective at converting to actual sales.That's because Amazon has spent decades gathering customer sales data and knows what its customers want better than anyone on earth.Apple's (AAPL) recent privacy shift in iOS, makes it much easier to opt out of data tracking, and 62% of iPhone users have indeed opted out.This has proven a hammer blow to FB, which management says could cost it $10 billion in 2022 alone.GOOG is less at risk since it still has the search data it can use to optimize for targeted ads.AMZN is the least at risk since it relies far less on cookie tracking than its rivals.This kind of business model disruption is part of FB and GOOG's risk profile, which brings us to our first point of comparison.Long-Term Risk Management: Winner AlphabetHow do we quantify, monitor, and track such a complex risk profile? By doing what big institutions do.Material Financial ESG Risk Analysis: How Large Institutions Measure Total Risk4 Things You Need To Know To Profit From ESG InvestingWhat Investors Need To Know About Company Long-Term Risk Management (Video)Here is a special report that outlines the most important aspects of understanding long-term ESG financial risks for your investments.ESG is NOT \"political or personal ethics based investing\"it's total long-term risk management analysisESG is just normal risk by another name.\" Simon MacMahon, head of ESG and corporate governance research, Sustainalytics\" - MorningstarESG factors are taken into consideration, alongside all other credit factors, when we consider they are relevant to and have or may have a material influence on creditworthiness.\" - S&PESG is a measure of risk, not of ethics, political correctness, or personal opinion.S&P, Fitch, Moody's, DBRS (Canadian rating agency), AMBest (insurance rating agency), R&I Credit Rating (Japanese rating agency), and the Japan Credit Rating Agency have been using ESG models in their credit ratings for decades.every credit rating for the last 30 years has included these risk models, you just weren't aware of it credit and risk management ratings make up 41% of the DK safety and quality modeldividend/balance sheet/risk ratings make up 82% of the DK safety and quality modelEvery major financial institution also tracks long-term risk management and considers it essential to sound long-term investing including,BlackRockMSCIJPMorganWells FargoBank of AmericaDeutsche Bankvirtually every major financial institution in the worldWe use six rating agencies to get a consensus risk management percentile, comparing how well a company manages its risk relative to its peers.For context:master list average: 62nd percentiledividend kings: 63rd percentiledividend aristocrats: 67th percentileUltra SWANs: 71st percentileThe better a company's risk management consensus the more likely it will be able to adapt to challenges to its business model, as we're seeing now with GOOG and FB.Meta Long-Term Risk-Management ConsensusRating AgencyIndustry PercentileRating Agency ClassificationMSCI 37 Metric Model26.0%B Industry Laggard, Negative TrendMorningstar/Sustainalytics 20 Metric Model0.7%32.4/100 High-RiskReuters'/Refinitiv 500+ Metric Model88.9%GoodS&P 1,000+ Metric Model18.0%Very Poor- Stable TrendJust Capital 19 Metric Model50.0%AverageFactSet30.0%Below-Average Stable TrendMorningstar Global Percentile30.6%Below-AverageJust Capital Global Percentile25.4%PoorConsensus33.7%Below-Average (verging on poor) - medium risk(Sources: MSCI, Morningstar, Reuters', Just Capital, S&P, FactSet Research)The rating agency consensus is that FB is below-average at managing its risk, verging on poor.Now contrast that with GOOG.Alphabet Long-Term Risk-Management ConsensusRating AgencyIndustry PercentileRating Agency ClassificationMSCI 37 Metric Model53.0%BBB Average, Negative TrendMorningstar/Sustainalytics 20 Metric Model39.7%24.3/100 Medium-RiskReuters'/Refinitiv 500+ Metric Model85.88%GoodS&P 1,000+ Metric Model47.0%Average- Positive TrendJust Capital 19 Metric Model100.00%#1 Industry LeaderFactSet30.0%Below-Average Stable TrendMorningstar Global Percentile60.88Above-AverageJust Capital Global Percentile100%#1 Industry Leader, #1 Company In AmericaConsensus64.6%Above-Average - low risk (Sources: MSCI, Morningstar, Reuters', Just Capital, S&P, FactSet Research)GOOG doesn't just manage its long-term risk better than FB, it's beating FB by 31%.far more likely to successfully deal with privacy policy shifts, regulators, and every other major risk to its business modelAnd risk-management isn't the only factor in which GOOG outshines FB by a wide margin.Overall Quality: Winner, AlphabetThe Dividend King's overall quality scores are based on a 241 point model that includes:dividend safetybalance sheet strengthcredit ratingscredit default swap medium-term bankruptcy risk datashort and long-term bankruptcy riskaccounting and corporate fraud riskprofitability and business modelgrowth consensus estimatesmanagement growth guidancehistorical earnings growth rateshistorical cash flow growth rateshistorical dividend growth rateshistorical sales growth ratescost of capitallong-term risk-management scores from MSCI, Morningstar, FactSet, S&P, Reuters'/Refinitiv, and Just Capitalmanagement qualitydividend friendly corporate culture/income dependabilitylong-term total returns (a Ben Graham sign of quality)analyst consensus long-term return potentialIt actually includes over 1,000 metrics if you count everything factored in by 12 rating agencies we use to assess fundamental risk.credit and risk management ratings make up 41% of the DK safety and quality modeldividend/balance sheet/risk ratings make up 82% of the DK safety and quality modelHow do we know that our safety and quality model works well?During the two worst recessions in 75 years, our safety model predicted 87% of blue-chip dividend cuts during the ultimate baptism by fire for any dividend safety model.That's because we don't miss anything important about a company's fundamental safety and quality.So how do GOOG and FB stack up on one of the world's most comprehensive and accurate safety and quality models?Meta: A Speculative 11/19 Quality Blue-ChipMeta Balance Sheet SafetyRatingDividend Kings Safety Score (151 Point Safety Model)Approximate Dividend Cut Risk (Average Recession)Approximate Dividend Cut Risk In Pandemic Level Recession1 - unsafe0% to 20%over 4%16+%2- below average21% to 40%over 2%8% to 16%3 - average41% to 60%2%4% to 8%4 - safe61% to 80%1%2% to 4%5- very safe81% to 100%0.5%1% to 2%FB100%NANARisk RatingMedium Risk (34th industry percentile risk-management consensus)Effective AAA stable outlook credit rating 0.07% 30-year bankruptcy risk2.5% OR LESS Max Risk Cap Recommendation - speculative, turnaround stockLong-Term DependabilityCompanyDK Long-Term Dependability ScoreInterpretationPointsNon-Dependable Companies21% or belowPoor Dependability1Low Dependability Companies22% to 60%Below-Average Dependability2S&P 500/Industry Average61% (58% to 70% range)Average Dependability3Above-Average71% to 80%Very Dependable4Very Good81% or higherExceptional Dependability5FB67%Average Dependability3Overall QualityFBFinal ScoreRatingSafety100%5/5 very safeBusiness Model100%3/3 wide moatDependability67%3/5 average dependabilityTotal84%11/13 Speculative Blue-ChipRisk Rating2/3 Medium Risk2.5% OR LESS Max Risk Cap Rec - speculative, turnaround stock20% Margin of Safety For A Potentially Good BuyAnd here's GOOG.Alphabet: A 13/13 Quality Ultra SWANAlphabet Balance Sheet SafetyRatingDividend Kings Safety Score (151 Point Safety Model)Approximate Dividend Cut Risk (Average Recession)Approximate Dividend Cut Risk In Pandemic Level Recession1 - unsafe0% to 20%over 4%16+%2- below average21% to 40%over 2%8% to 16%3 - average41% to 60%2%4% to 8%4 - safe61% to 80%1%2% to 4%5- very safe81% to 100%0.5%1% to 2%GOOG100%NANARisk RatingLow Risk (65th industry percentile risk-management consensus)AA+ stable outlook credit rating 0.29% 30-year bankruptcy risk20% OR LESS Max Risk Cap RecommendationLong-Term DependabilityCompanyDK Long-Term Dependability ScoreInterpretationPointsNon-Dependable Companies21% or belowPoor Dependability1Low Dependability Companies22% to 60%Below-Average Dependability2S&P 500/Industry Average61% (58% to 70% range)Average Dependability3Above-Average71% to 80%Very Dependable4Very Good81% or higherExceptional Dependability5GOOG89%Exceptional Dependability5Overall QualityGOOGFinal ScoreRatingSafety100%5/5 very safeBusiness Model100%3/3 wide moatDependability89%5/5 exceptionalTotal95%13/13 Ultra SWANRisk Rating3/3 Low Risk20% OR LESS Max Risk Cap Rec5% Margin of Safety For A Potentially Good BuyMeta: 114th highest quality company on the Masterlist: 78th percentileAlphabet: 39th highest quality: 92nd percentileBoth companies are exceptionally high quality given that our company database is one of the best in the world.The DK 500 Master List includes the world's highest quality companies including:All dividend championsAll dividend aristocratsAll dividend kingsAll global aristocrats (such as BTI, ENB, and NVS)All 13/13 Ultra Swans (as close to perfect quality as exists on Wall Street)48 of the world's best growth stocks (on its way to 100)But when it comes to overall quality, factoring in over 1,000 fundamental metrics, the winner is clearly once more Alphabet.Why is GOOG the hands-down winner in this quality fight with FB?CompanyQuality Rating (out Of 13)Quality Score (Out Of 100)Dividend/Balance Sheet Safety Rating (out of 5)Safety Score (Out Of 100)Dependability Rating (Out Of 5)Dependability Score (out Of 100)Meta Platforms11 Speculative Blue-Chip84%5 Very Safe100%3 average67%Alphabet13 Ultra SWAN95%5 Very Safe100%5 exceptional89%(Source: DK Research Terminal)Both FB and Meta have exceptionally strong balance sheets, making the risk of bankruptcy as close to zero as you can find on Wall Street.Alphabet's Balance Sheet: AA+ Rated By S&PGuruFocus PremiumGOOG has $140 billion in cash and just $13 billion in debt.Its advanced accounting metrics (F, Z, and M-score) are exceptional.F-score is a measure of short-term bankruptcy risk4+ is safe, 7+ very safe and GOOG's is 8M-score is 84% to 92% accurate at forecasting long-term bankruptcies1.81+ is safe, 3+ is very safe and GOOG's is 13.04M-score is 76% accurate at catching accounting fraud, and 82.5% accurate at finding companies with honest accounting-1.78 or lower is safe and GOOG's is -2.48Meta's Balance Sheet: Effectively AAAGuruFocus PremiumThe only \"debt\" Meta has is receivables, it actually carries no long-term debt.That is why it's the largest company on earth that doesn't pay the $500K per year for a credit rating.However, given its current and historical advanced credit metrics, as well as its exceptionally strong solvency ratios (current ratio, quick ratio, and cash ratios), I'm highly confident that it would be AAA-rated.because it's literally not possible for FB to default on debt it doesn't haveCredit Rating30-Year Bankruptcy ProbabilityAAA (Meta)0.07%AA+ (Alphabet)0.29%AA0.51%AA-0.55%A+0.60%A0.66%A-2.5%BBB+5%BBB7.5%BBB-11%BB+14%BB17%BB-21%B+25%B37%B-45%CCC+52%CCC59%CCC-65%CC70%C80%D100%(Sources: S&P, University of St. Petersberg)This means the fundamental risk of losing all your money over the next 30 years buying FB or GOOG today is approximately1 in 1,429 for FB1 in 345 for GOOGAnd both companies' balance sheets are expected to keep getting stronger over time.Alphabet: Consensus $441 Billion In Net Cash By 2027 FactSet Research TerminalMeta: Consensus $71 Billion In Net Cash By 2027FactSet Research TerminalNow let's consider profitability, Wall Street's favorite quality proxy.Profitability: Winner, Meta By A Small AmountMeta Profitability Vs PeersGurufocus PremiumAlphabet Profitability Vs PeersGurufocus PremiumBoth companies are profit-minting machines.YchartsThese are two of the most profitable companies on earth, and their industry-leading profitability has been stable or improving for over a decade, confirming a wide and stable moat.FactSet Research TerminalFB's free cash flow is expected to keep growing and reach $77 billion in 2027.This is expected to result in impressive buybacks in the coming years.$219 billion in consensus buybacks through 202738% of shares at current valuationsFactSet Research TerminalGOOG's annual free cash flow is expected to grow to $139 billion in 2027, allowing it to undertake even more impressive buybacks.$380 billion in consensus buybacks through 202721% of shares at current valuationsNow let's consider one important profitability metric in particular.Return on capital or ROC is Joel Greenblatt's gold standard proxy for quality and moatiness.ROC = pre-tax profit/operating capital (the money it takes to run the business).S&P 500's average in 2021 was 14.6% (average investment pays for itself in 7 years)CompanyROC (Greenblatt)ROC Industry Percentile13-Year Median ROC5-Year ROC Trend (OTC:CAGR)Meta Platforms74%65%95%-16%Alphabet87%67%74%-7%(Source: DK Research Terminal, FactSet)In the past year, GOOG's return on capital was higher than FB's and it's also above its 13-year median indicating a more stable moat.In other words, when it comes to profitability, FB edges out GOOG by a small amount, except in terms of return on capital, where it's once more the winner.Valuation: Winner, MetaCompanyAverage Fair ValueCurrent PriceDiscount To Fair ValueDK RatingPE 2022PEG 2022Meta Platforms$265.75$214.3519.6%Potentially Reasonable Buy17.191.49Alphabet$3,161.89$2,771.9212.3%Potentially Good Buy23.511.67(Source: DK Research Terminal, FactSet)FB is trading at a slightly lower valuation and a higher margin of safety, though not quite high enough for me to consider it a good buy.20% discount is needed to make FB a potentially good buy given its lower quality and risk profileIf we back out cash we see that FB is once more the more undervalued company.FB EV/EBITDA: 9.5GOOG EV/EBITDA: 14.5However, both companies are trading at highly attractive valuations.Company12-Month Consensus Total Return Potential12-Month Fundamentally Justified Upside Total Return PotentialMeta Platforms48.47%23.98%Alphabet25.77%14.11%(Source: DK Research Terminal, FactSet)This is why analysts expect both to deliver very strong returns, though FB potentially much more than GOOG.Of course, what happens in the next year doesn't matter as much as the kind of returns both companies can deliver over the long-term.Long-Term Total Return Potential: Winner, AlphabetCompanyYieldFactSet Long-Term Consensus Growth RateLT Consensus Total Return PotentialRisk-Adjusted Expected ReturnMeta Platforms0.00%11.5%11.5%8.1%Alphabet0.00%14.1%14.1%9.9%(Source: DK Research Terminal, FactSet)GOOG is expected to grow significantly faster than FB over time, resulting in far better long-term returns.Investment StrategyYieldLT Consensus GrowthLT Consensus Total Return PotentialLong-Term Risk-Adjusted Expected ReturnLong-Term Inflation And Risk-Adjusted Expected ReturnsYears To Double Your Inflation & Risk-Adjusted Wealth10 Year Inflation And Risk-Adjusted ReturnEurope2.6%12.8%15.4%10.7%8.6%8.42.27Value2.1%12.1%14.1%9.9%7.7%9.32.10Alphabet0.0%14.1%14.1%9.9%7.7%9.42.10High-Yield2.8%11.3%14.1%9.9%7.7%9.42.10High-Yield + Growth1.7%11.0%12.7%8.9%6.7%10.81.91Safe Midstream + Growth3.3%8.5%11.8%8.3%6.1%11.81.80Meta0.0%11.50%11.5%8.1%5.9%12.31.77Nasdaq (Growth)0.8%10.7%11.5%8.1%5.9%12.31.77Safe Midstream5.5%6.0%11.5%8.1%5.9%12.31.77Dividend Aristocrats2.2%8.9%11.1%7.8%5.6%12.91.72REITs + Growth1.8%8.9%10.6%7.4%5.2%13.71.67S&P 5001.4%8.5%9.9%7.0%4.8%15.11.59Realty Income4.6%5.2%9.8%6.9%4.7%15.41.58Dividend Growth1.6%8.0%9.6%6.7%4.5%15.91.56REITs2.9%6.5%9.4%6.6%4.4%16.41.5460/40 Retirement Portfolio2.1%5.1%7.2%5.1%2.9%24.91.3310-Year US Treasury2.3%0.0%2.3%1.6%-0.5%-131.10.95(Source: Morningstar, FactSet, Ycharts)Both companies are expected to beat the S&P 500 over time, though FB merely to match the Nasdaq while GOOG is expected to run circles around big tech.What kind of difference does 2.6% per year in potential extra returns actually mean for your life?Inflation-Adjusted Consensus Return Forecast: $1,000 Initial InvestmentTime Frame (Years)7.7% CAGR Inflation-Adjusted S&P Consensus11.9% Inflation-Adjusted GOOG Consensus9.3% CAGR Inflation-Adjusted FB ConsensusDifference Between Inflation Adjusted GOOG and FB Consensus Returns5$1,449.03$1,756.06$1,561.34$194.7110$2,099.70$3,083.73$2,437.79$645.9515$3,042.53$5,415.21$3,806.22$1,608.9920$4,408.74$9,509.42$5,942.82$3,566.6025$6,388.41$16,699.08$9,278.77$7,420.3130$9,257.02$29,324.53$14,487.34$14,837.19(Source: Morningstar, FactSet, Ycharts)Both FB and GOOG are likely to generate good returns but GOOG could turn a modest investment today into a potentially small fortune in the coming decades.Time Frame (Years)Ratio Inflation-Adjusted GOOG and FB Consensus51.12101.26151.42201.60251.80302.02(Source: DK Research Terminal, FactSet)In fact, GOOG could potentially double FB's 30-year returns if both companies grow as analysts currently expect.Short & Medium-Term Total Return Potential: TieMeta 2024 Consensus Return Potential FAST Graphs, FactSet ResearchFB growing at 11.5% is worth about 20.5X earnings based on the company's historical PEG ratio.analyst 12-month consensus forecast is for 21.9 PEThis means that if FB grows as expected through 2024 it could deliver about 18% annular returns, far more than the 17% overvalued S&P 500 is likely to generate.What about the next five years?S&P 500 2027 Consensus Return PotentialYearUpside Potential By End of That YearConsensus CAGR Return Potential By End of That YearProbability-Weighted Return (Annualized)Inflation And Risk-Adjusted Expected Returns202734.75%6.15%4.61%1.27%(Source: DK S&P 500 Valuation And Total Return Tool)For context, analysts expect 35% returns from the S&P 500, which adjusted for inflation and risk is 1% compared to the market's historical 6% to 7% real return.Meta 2027 Consensus Return PotentialFAST Graphs, FactSet ResearchFB could more than double your money if it grows as analysts expect over the next five years.3.2X the S&P 500 consensusGOOG 2024 Consensus Return Potential FAST Graphs, FactSet ResearchGOOG could deliver 13% annual returns through 2024 if it grows as expected.In the past GOOG has grown as slowly as 11% and billions of investors still paid 25.7X earnings, meaning that its historical market-fair value multiple of 25 to 26X earnings should still be valid.GOOG 2027 Consensus Return PotentialFAST Graphs, FactSet ResearchThanks to GOOG's faster growth rate analysts expect both companies to potentially deliver identical returns.about 14% annually over the next five yearsalso 3.2X better than the S&P 500Bottom Line: Both Are Great Companies But In The Battle Of Meta And Alphabet There Is One Clear WinnerDividend Kings Automated Investment Decision ToolDividend Kings Automated Investment Decision ToolBoth Alphabet and Meta are wonderful companies, and as close to perfect growth blue-chip opportunities as you can find on Wall Street right now.far superior valuationsuperior qualitysuperior long-term return potential to the S&P 500However, when we examine both companies in their entirety one fact is clear.GOOG is a higher quality companyGOOG is a faster-growing company (with potentially 2X better long-term return potential than FB)GOOG has far better long-term risk management (to deal with the disruption the digital advertising industry is currently facing)GOOG has superior return on capital and a more stable moatWhile FB offers superior valuation and potentially double the short-term return potential, it's a speculative blue-chip currently going through the largest business pivot in the company's history.In contrast, GOOG is a faster-growing Ultra SWAN that is expected to buy back almost $400 billion worth of stock in the next five years, double that of FB.Simply put, if you can only buy one of these growth legends today, I recommend Alphabet, and that's why I have it as a core growth position in my correction plan.Not just for the next few weeks, but all of 2022 and beyond.Because at the end of the day, when you focus on safety and quality first, and prudent valuation and sound risk-management always, you never have to pray for luck on Wall Street, you make your own.Luck is what happens when preparation meets, opportunity.\" - Roman philosopher Seneca the younger","news_type":1},"isVote":1,"tweetType":1,"viewCount":132,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}