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Zacchaeus

Zacchaeus

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2021-02-22

??????

Warren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See.

2021-02-21

nice

Dollar slips further after disappointing jobs data, sterling shines

2021-02-12

Nice

Microsoft tried to buy Pinterest in recent months: report

2021-04-13

Crypto is up and coming ???

The mathematical improbability of Coinbase justifying a $100 billion valuation

2021-02-26

Good luck all

2021-02-18

Hi, posting to get coins

2021-06-12

nice

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2021-04-13

gut

Sorry, the original content has been removed

2021-02-21

Test post for free coins

2021-02-17

Good read

Europe braces for pandemic reality to hit banks

Go to Tiger App to see more news

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is up and coming ???","listText":"Crypto is up and coming ???","text":"Crypto is up and coming ???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/345113418","repostId":"1154178432","repostType":4,"repost":{"id":"1154178432","kind":"news","pubTimestamp":1618285972,"share":"https://ttm.financial/m/news/1154178432?lang=en_US&edition=fundamental","pubTime":"2021-04-13 11:52","market":"us","language":"en","title":"The mathematical improbability of Coinbase justifying a $100 billion valuation","url":"https://stock-news.laohu8.com/highlight/detail?id=1154178432","media":"Fortune","summary":"Nothing better epitomizes the zaniness ruling financial markets these days than the great expectatio","content":"<p>Nothing better epitomizes the zaniness ruling financial markets these days than the&nbsp;great expectations&nbsp;surrounding the Coinbase IPO slated for April 14. The euphoria over the&nbsp;first major cryptocurrency player to go public&nbsp;is of a piece with the damn-the-fundamentals craze that's spawned the&nbsp;Tesla&nbsp;phenomenon and pushed U.S. equities to near-bubble territory. Wall Street analysts and Bitcoin-loving investors are forecasting that Coinbase could debut at a $100 billion valuation.</p><p>To justify that number, the math shows, Coinbase would need to mushroom into the biggest financial exchange in the world. \"It's part of the overall frenzy creating bubbles everywhere,\" says David Trainer, an analyst at research firm New Constructs. \"When you do the numbers, there's no way to make an argument for owning this stock with a straight face.\"</p><p>Trainer just released an&nbsp;excellent analysis of Coinbase's prospects. It shows how new competition will hammer today's fat margins and argues that the crypto market won't be nearly as gigantic as Coinbase anticipates—all told making for a franchise worth a fraction of what its fans will be paying on opening day.</p><p><b>The flush times won’t last</b></p><p>Coinbase turned strongly profitable last year, more than doubling revenues from $483 million to $1.14 billion and lifting operating profits from a $45 million deficit to $409 million. Its registration statement discloses that Coinbase generated 87% of those revenues from trading and selling Bitcoin, Ethereum, and almost 50 other coins for both retail and institutional customers. Surprisingly, money managers and corporations now account for over half of its trades, bolstering its pitch that crypto is going mainstream in a big way. Its 35% operating return on sales equaled the 2020 margin posted by Goldman Sachs’s Global Markets franchise in one of its best years ever.</p><p>But what's really ignited Coinbase fever is the astounding results for its March quarter, released on April 6. Its Q1 revenues soared 11-fold to $1.8 billion, 58% more than it collected in<i>all of</i>2020, and operating income rose to over $1 billion, doubling the figure for last year. Its operating margin of around 55% far exceeds what the trading arms of the Wall Street banks pocketed in a banner 2020.</p><p>But here's the real head-spinner: Coinbase generated 0.46% on each dollar it traded in cryptocurrencies, or almost $300 for every Bitcoin it bought and sold for customers. It's the impossibility of maintaining anything like those superrich, virtually never-before-seen trading margins that underscores how Coinbase's likely valuation will be wildly out of whack with its actual prospects.</p><p><b>Enter the competition</b></p><p>In its S-1, Coinbase details that it charges customers a flat fee, reportedly around 0.5% on the dollar value of a Bitcoin or Ethereum trade. That charge can be lower or higher depending on the volumes—the more business a customer trades, the lower the percentage—or the regions where the client operates. It also collects much smaller amounts from the spread between the \"ask\" at which it buys for customers, and the \"bid\" at which it sells. How does the Q1 average fee of 0.46% compare with the figures for the two largest owners of securities exchanges in America, Intercontinental Exchange (ICE), and&nbsp;Nasdaq&nbsp;Inc.?</p><p>In 2020, ICE and Nasdaq each made an average of 0.01% on each dollar of securities' trades. Hence, Coinbase reaped about 50 times the margins of those longstanding, gargantuan marketplaces. It generated the equivalent of three-quarters of Nasdaq's trading revenues—$1.5 billion versus $2.0 billion—on 2% of the volumes.</p><p>It can't last, says Trainer. He predicts that fees for trading cryptocurrencies will follow a similar downward trajectory as those in stocks, possibly all the way to zero. Coinbase's slice of each transaction is so big, and its profits so gigantic, that rivals can slash what they're charging and still mint huge profits. \"Competitors such as Gemini, Bitstamp, Kraken, Binance, and others will likely lower or zero trading fees to take market share,\" he says. \"If margins are that good, you invite competition.\" That will start a \"race to the bottom\" similar to the contest for market share that triggered the collapse, then virtual elimination, of stock commissions in 2019. Trainer also expects traditional brokerages to soon offer trading in cryptocurrencies, further pressuring Coinbase's rich fees.</p><p><b>How fast must Coinbase grow to be worth $100 billion?</b></p><p>Trainer ran the numbers. For Coinbase to reach $100 billion market cap by 2027, its revenues would need to jump 50% a year to $21.3 billion, while free cash flow keeps pace, waxing to $3.2 billion, more than 10 times the figure for last year. It would still be selling at a rich multiple of 30 times cash flow. At $20-billion-plus, Coinbase would exceed the combined 2020 revenues of ICE and Nasdaq by 50%.</p><p>Put simply, to reach the size worthy of a $100 billion market cap—and that's starting today—Coinbase would probably need to become the biggest exchange in the world. That's the bet investors are making if they buy its shares at the April 14 offering and beyond.</p><p><b>Can Coinbase get there?</b></p><p>For Trainer, grabbing the trophy looks like a mathematical impossibility. If Coinbase's operating margins decline to the average level of 23% for the 18 largest investment banks—still a big number—and its revenues grow at a strong 21%, the rate that Nasdaq achieved in its rapid growth phase, it will be worth $18.9 billion, or over 80% less than the $100 billion it could command next week.</p><p>Another distressing metric: Say Bitcoin's trading margin declines from 0.46% to 0.10%. That's still 10 times what ICE and Nasdaq are generating. To reach the $21.3 billion in revenue that rings the bell, by<i>Fortune’</i>s estimates, Coinbase would need to trade $17 trillion a year in Bitcoin and other tokens. That's<i>four times</i>the total volumes for all cryptocurrencies, on every exchange, for 2020.</p><p>For Coinbase CEO Brian Armstrong, a future in which such epic numbers are achieved looks anything but impossible. The S-1 states that \"crypto has the potential to be as revolutionary and widely adopted as the Internet.\" He's selling a growth story for an investment that's still far from mainstream. For Trainer, Coinbase is the epitome of a \"meme stock that's traded without regard for the fundamentals.\" The vision is compelling as long as it remains lofty and doesn't get too specific about the heroics needed to be worth $100 billion. Investors should keep in mind that they'll be paying a stratospheric price for backing a daring expedition that's unlikely to reach the mountaintop.</p>","source":"lsy1618285953446","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 mathematical improbability of Coinbase justifying a $100 billion valuation</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 mathematical improbability of Coinbase justifying a $100 billion valuation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-13 11:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://fortune.com/2021/04/12/coinbase-ipo-valuation-100-billion-justification-crypto/><strong>Fortune</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nothing better epitomizes the zaniness ruling financial markets these days than the great expectations surrounding the Coinbase IPO slated for April 14. The euphoria over the first major ...</p>\n\n<a href=\"https://fortune.com/2021/04/12/coinbase-ipo-valuation-100-billion-justification-crypto/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://fortune.com/2021/04/12/coinbase-ipo-valuation-100-billion-justification-crypto/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154178432","content_text":"Nothing better epitomizes the zaniness ruling financial markets these days than the great expectations surrounding the Coinbase IPO slated for April 14. The euphoria over the first major cryptocurrency player to go public is of a piece with the damn-the-fundamentals craze that's spawned the Tesla phenomenon and pushed U.S. equities to near-bubble territory. Wall Street analysts and Bitcoin-loving investors are forecasting that Coinbase could debut at a $100 billion valuation.To justify that number, the math shows, Coinbase would need to mushroom into the biggest financial exchange in the world. \"It's part of the overall frenzy creating bubbles everywhere,\" says David Trainer, an analyst at research firm New Constructs. \"When you do the numbers, there's no way to make an argument for owning this stock with a straight face.\"Trainer just released an excellent analysis of Coinbase's prospects. It shows how new competition will hammer today's fat margins and argues that the crypto market won't be nearly as gigantic as Coinbase anticipates—all told making for a franchise worth a fraction of what its fans will be paying on opening day.The flush times won’t lastCoinbase turned strongly profitable last year, more than doubling revenues from $483 million to $1.14 billion and lifting operating profits from a $45 million deficit to $409 million. Its registration statement discloses that Coinbase generated 87% of those revenues from trading and selling Bitcoin, Ethereum, and almost 50 other coins for both retail and institutional customers. Surprisingly, money managers and corporations now account for over half of its trades, bolstering its pitch that crypto is going mainstream in a big way. Its 35% operating return on sales equaled the 2020 margin posted by Goldman Sachs’s Global Markets franchise in one of its best years ever.But what's really ignited Coinbase fever is the astounding results for its March quarter, released on April 6. Its Q1 revenues soared 11-fold to $1.8 billion, 58% more than it collected inall of2020, and operating income rose to over $1 billion, doubling the figure for last year. Its operating margin of around 55% far exceeds what the trading arms of the Wall Street banks pocketed in a banner 2020.But here's the real head-spinner: Coinbase generated 0.46% on each dollar it traded in cryptocurrencies, or almost $300 for every Bitcoin it bought and sold for customers. It's the impossibility of maintaining anything like those superrich, virtually never-before-seen trading margins that underscores how Coinbase's likely valuation will be wildly out of whack with its actual prospects.Enter the competitionIn its S-1, Coinbase details that it charges customers a flat fee, reportedly around 0.5% on the dollar value of a Bitcoin or Ethereum trade. That charge can be lower or higher depending on the volumes—the more business a customer trades, the lower the percentage—or the regions where the client operates. It also collects much smaller amounts from the spread between the \"ask\" at which it buys for customers, and the \"bid\" at which it sells. How does the Q1 average fee of 0.46% compare with the figures for the two largest owners of securities exchanges in America, Intercontinental Exchange (ICE), and Nasdaq Inc.?In 2020, ICE and Nasdaq each made an average of 0.01% on each dollar of securities' trades. Hence, Coinbase reaped about 50 times the margins of those longstanding, gargantuan marketplaces. It generated the equivalent of three-quarters of Nasdaq's trading revenues—$1.5 billion versus $2.0 billion—on 2% of the volumes.It can't last, says Trainer. He predicts that fees for trading cryptocurrencies will follow a similar downward trajectory as those in stocks, possibly all the way to zero. Coinbase's slice of each transaction is so big, and its profits so gigantic, that rivals can slash what they're charging and still mint huge profits. \"Competitors such as Gemini, Bitstamp, Kraken, Binance, and others will likely lower or zero trading fees to take market share,\" he says. \"If margins are that good, you invite competition.\" That will start a \"race to the bottom\" similar to the contest for market share that triggered the collapse, then virtual elimination, of stock commissions in 2019. Trainer also expects traditional brokerages to soon offer trading in cryptocurrencies, further pressuring Coinbase's rich fees.How fast must Coinbase grow to be worth $100 billion?Trainer ran the numbers. For Coinbase to reach $100 billion market cap by 2027, its revenues would need to jump 50% a year to $21.3 billion, while free cash flow keeps pace, waxing to $3.2 billion, more than 10 times the figure for last year. It would still be selling at a rich multiple of 30 times cash flow. At $20-billion-plus, Coinbase would exceed the combined 2020 revenues of ICE and Nasdaq by 50%.Put simply, to reach the size worthy of a $100 billion market cap—and that's starting today—Coinbase would probably need to become the biggest exchange in the world. That's the bet investors are making if they buy its shares at the April 14 offering and beyond.Can Coinbase get there?For Trainer, grabbing the trophy looks like a mathematical impossibility. If Coinbase's operating margins decline to the average level of 23% for the 18 largest investment banks—still a big number—and its revenues grow at a strong 21%, the rate that Nasdaq achieved in its rapid growth phase, it will be worth $18.9 billion, or over 80% less than the $100 billion it could command next week.Another distressing metric: Say Bitcoin's trading margin declines from 0.46% to 0.10%. That's still 10 times what ICE and Nasdaq are generating. To reach the $21.3 billion in revenue that rings the bell, byFortune’s estimates, Coinbase would need to trade $17 trillion a year in Bitcoin and other tokens. That'sfour timesthe total volumes for all cryptocurrencies, on every exchange, for 2020.For Coinbase CEO Brian Armstrong, a future in which such epic numbers are achieved looks anything but impossible. The S-1 states that \"crypto has the potential to be as revolutionary and widely adopted as the Internet.\" He's selling a growth story for an investment that's still far from mainstream. For Trainer, Coinbase is the epitome of a \"meme stock that's traded without regard for the fundamentals.\" The vision is compelling as long as it remains lofty and doesn't get too specific about the heroics needed to be worth $100 billion. Investors should keep in mind that they'll be paying a stratospheric price for backing a daring expedition that's unlikely to reach the mountaintop.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":2647,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345113836,"gmtCreate":1618286472525,"gmtModify":1704708618024,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/345113836","repostId":"1146450605","repostType":4,"isVote":1,"tweetType":1,"viewCount":2565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368466805,"gmtCreate":1614348779107,"gmtModify":1704771011115,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"Good luck all","listText":"Good luck all","text":"Good luck all","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/368466805","isVote":1,"tweetType":1,"viewCount":2223,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363794452,"gmtCreate":1614171098576,"gmtModify":1704889040010,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"Schon gut!","listText":"Schon gut!","text":"Schon gut!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/363794452","repostId":"1129467108","repostType":4,"repost":{"id":"1129467108","kind":"news","pubTimestamp":1614164417,"share":"https://ttm.financial/m/news/1129467108?lang=en_US&edition=fundamental","pubTime":"2021-02-24 19:00","market":"us","language":"en","title":"Why J.P. Morgan Says Now Is the Time to Bet on the S&P 500","url":"https://stock-news.laohu8.com/highlight/detail?id=1129467108","media":"Barrons","summary":"Don’t worry. Be greedy.Even though investor fears are rising, and the stock market is getting bullie","content":"<p>Don’t worry. Be greedy.</p><p>Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.</p><p>TheS&amp;P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.</p><p>Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”</p><p>As President Joe Biden’s administration&nbsp;champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move&nbsp;that is fanning inflation fearsand worries about stock slumps.</p><p>Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.</p><p>To position for the stock market to surge higher, Quigg advised clients to consider selling one of the&nbsp;SPDR S&amp;P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls&nbsp;with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.</p><p>The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.</p><p>Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.</p><p>Quigg’s trade idea has a lot to admire.</p><p>For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.</p><p>Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&amp;P 500 stocks at lower prices isn’t terrible, either.</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>Why J.P. Morgan Says Now Is the Time to Bet on the S&P 500</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\">\nWhy J.P. Morgan Says Now Is the Time to Bet on the S&P 500\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-24 19:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/why-j-p-morgan-says-now-is-the-time-to-bet-on-the-s-p-500-51614090217?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Don’t worry. Be greedy.Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to ...</p>\n\n<a href=\"https://www.barrons.com/articles/why-j-p-morgan-says-now-is-the-time-to-bet-on-the-s-p-500-51614090217?mod=RTA\">Source 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",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/why-j-p-morgan-says-now-is-the-time-to-bet-on-the-s-p-500-51614090217?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129467108","content_text":"Don’t worry. Be greedy.Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.TheS&P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”As President Joe Biden’s administration champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move that is fanning inflation fearsand worries about stock slumps.Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.To position for the stock market to surge higher, Quigg advised clients to consider selling one of the SPDR S&P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.Quigg’s trade idea has a lot to admire.For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&P 500 stocks at lower prices isn’t terrible, either.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1866,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360468524,"gmtCreate":1613966646468,"gmtModify":1704886251853,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"??????","listText":"??????","text":"??????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/360468524","repostId":"1171414372","repostType":4,"repost":{"id":"1171414372","kind":"news","pubTimestamp":1613964674,"share":"https://ttm.financial/m/news/1171414372?lang=en_US&edition=fundamental","pubTime":"2021-02-22 11:31","market":"us","language":"en","title":"Warren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See.","url":"https://stock-news.laohu8.com/highlight/detail?id=1171414372","media":"Barrons","summary":"As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerks","content":"<p>As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerkshire Hathawayshare&nbsp;holders, the CEO has much to address.</p><p>They include the&nbsp;underperformance of Berkshire(ticker: BRK.A and BRK.B) shares over the past one, five, and 10 years, Buffett’s cautious approach to new investments, and the spotty record of Berkshire’s acquisitions over the past decade.</p><p>Yet that letter—due out on Feb. 27, along with the annual report and fourth-quarter earnings—can help write Berkshire’s next chapter. All it would need is an announcement of the initiation of a dividend.</p><p>A dividend of 2% would be a good start, representing about 40% of projected 2021 earnings. It would probably lift the stock by broadening the base of potential investors to those who want or need dividends.</p><p>Berkshire has stepped up its share repurchases, buying back $15.7 billion of stock in the first three quarters of 2020, or about 3% of the shares outstanding. But with $146 billion in cash and projected earnings this year of $25 billion, it has the ability to pay a dividend as well as to buy back stock.</p><p>“Berkshire should pay a dividend; this would increase the appeal of the shares to investors who want current income,” says David King, co-manager of the Columbia Flexible Capital Income fund. “Given Berkshire’s size and financial strength, the company is unique in paying no dividend and that should be changed.”</p><p><img src=\"https://static.tigerbbs.com/014471f5dbd6554ccdd4f23756e41a51\" tg-width=\"963\" tg-height=\"627\"></p><p>Berkshire hasn’t paid a dividend for over 50 years. Why? Buffett’s view has been that a dollar in his hands is better than one in the hands of shareholders. That was long the case as Buffett worked his investment and acquisition magic, but it has been less true in recent years. Buffett declined to comment for this article.</p><p>In his 2012 annual letter, the CEO addressed the dividend issue, arguing that the better, and more tax-efficient, approach would be for investors who want income to sell a small portion of their Berkshire stock each year.</p><p>“First, dividends impose a specific cash-out policy upon all shareholders. If, say, 40% of earnings is the policy, those who wish 30% or 50% will be thwarted,” Buffett wrote. “Our 600,000 shareholders cover the waterfront in their desires for cash. It is safe to say, however, that a great many of them—perhaps even most of them—are in a net-savings mode and logically should prefer no payment at all.”</p><p>In 2014, Berkshire holder&nbsp;soverwhelmingly rejected a proxy proposalon dividends.</p><p><img src=\"https://static.tigerbbs.com/d68e1f8f07f62b85a646a858fee9196c\" tg-width=\"956\" tg-height=\"571\" referrerpolicy=\"no-referrer\"></p><p>Yet Berkshire’s cash has more than doubled since then, notes Edward Jones analyst James Shanahan, who favors a dividend. “A dividend is a good idea if only because the cash balance has grown so much,” he says, adding that significant repurchases at Berkshire are more difficult than at other big companies because there is less liquidity in its stock.</p><p>Berkshire’s class A shares have lagged behind theS&amp;P 500 indexby 40 percentage points since the end of 2018. They now look appealing at around $368,000, less than 1.3 times estimated year-end 2020 book value of around $287,000 and about 23 times projected 2021 earnings. Its class B shares trade around $243.</p><p>Berkshire has traded at closer to 1.4 times book value in the past five years, and earnings are set to climb in 2021, thanks to businesses with exposure to an improving economy, like the Burlington Northern Santa Fe railroad.</p><p>Still, the past decade has been one of missed opportunities for Buffett—with the stake inApple(AAPL) the notable exception.While the recently disclosed big purchasesinVerizon Communications(VZ) andChevron(CVX) made waves, Berkshire was likely a net seller of about $9 billion of stocks last year. The company also failed to capitalize on the market turmoil and make any big acquisitions.</p><p>So what else might Berkshire shareholders hope to see in the annual letter? More disclosure would help. It’s hard to know exactly how well Precision Castparts and other major Berkshire businesses are doing because the company doesn’t break out their results.</p><p>There is also the question of succession, with Buffett turning 90 last August. Buffett could give up the CEO job to Berkshire’s vice chairman, Greg Abel, while remaining chairman and continuing to oversee Berkshire’s investment portfolio, including $270 billion of stocks.</p><p>Berkshire hasn’t named an heir apparent to Buffett, but it’s widely assumed to be Abel, 58, who oversees Berkshire’s vast noninsurance operations, including Burlington Northern.</p><p>That would give Abel important experience while Buffett is still on the scene, allowing Abel to take new steps, like potentially holding Berkshire’s first investor day.</p><p>And whether it is Abel or someone else, a dividend would take pressure off Buffett’s successor to reinvest Berkshire’s earnings torrent and align the conglomerate with most other giant companies.</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>Warren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See.</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\">\nWarren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-22 11:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/how-warren-buffetts-berkshire-hathaway-shareholder-letter-could-lift-the-companys-stock-51613778470?mod=hp_LEADSUPP_3><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerkshire Hathawayshare holders, the CEO has much to address.They include the underperformance of ...</p>\n\n<a href=\"https://www.barrons.com/articles/how-warren-buffetts-berkshire-hathaway-shareholder-letter-could-lift-the-companys-stock-51613778470?mod=hp_LEADSUPP_3\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://www.barrons.com/articles/how-warren-buffetts-berkshire-hathaway-shareholder-letter-could-lift-the-companys-stock-51613778470?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171414372","content_text":"As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerkshire Hathawayshare holders, the CEO has much to address.They include the underperformance of Berkshire(ticker: BRK.A and BRK.B) shares over the past one, five, and 10 years, Buffett’s cautious approach to new investments, and the spotty record of Berkshire’s acquisitions over the past decade.Yet that letter—due out on Feb. 27, along with the annual report and fourth-quarter earnings—can help write Berkshire’s next chapter. All it would need is an announcement of the initiation of a dividend.A dividend of 2% would be a good start, representing about 40% of projected 2021 earnings. It would probably lift the stock by broadening the base of potential investors to those who want or need dividends.Berkshire has stepped up its share repurchases, buying back $15.7 billion of stock in the first three quarters of 2020, or about 3% of the shares outstanding. But with $146 billion in cash and projected earnings this year of $25 billion, it has the ability to pay a dividend as well as to buy back stock.“Berkshire should pay a dividend; this would increase the appeal of the shares to investors who want current income,” says David King, co-manager of the Columbia Flexible Capital Income fund. “Given Berkshire’s size and financial strength, the company is unique in paying no dividend and that should be changed.”Berkshire hasn’t paid a dividend for over 50 years. Why? Buffett’s view has been that a dollar in his hands is better than one in the hands of shareholders. That was long the case as Buffett worked his investment and acquisition magic, but it has been less true in recent years. Buffett declined to comment for this article.In his 2012 annual letter, the CEO addressed the dividend issue, arguing that the better, and more tax-efficient, approach would be for investors who want income to sell a small portion of their Berkshire stock each year.“First, dividends impose a specific cash-out policy upon all shareholders. If, say, 40% of earnings is the policy, those who wish 30% or 50% will be thwarted,” Buffett wrote. “Our 600,000 shareholders cover the waterfront in their desires for cash. It is safe to say, however, that a great many of them—perhaps even most of them—are in a net-savings mode and logically should prefer no payment at all.”In 2014, Berkshire holder soverwhelmingly rejected a proxy proposalon dividends.Yet Berkshire’s cash has more than doubled since then, notes Edward Jones analyst James Shanahan, who favors a dividend. “A dividend is a good idea if only because the cash balance has grown so much,” he says, adding that significant repurchases at Berkshire are more difficult than at other big companies because there is less liquidity in its stock.Berkshire’s class A shares have lagged behind theS&P 500 indexby 40 percentage points since the end of 2018. They now look appealing at around $368,000, less than 1.3 times estimated year-end 2020 book value of around $287,000 and about 23 times projected 2021 earnings. Its class B shares trade around $243.Berkshire has traded at closer to 1.4 times book value in the past five years, and earnings are set to climb in 2021, thanks to businesses with exposure to an improving economy, like the Burlington Northern Santa Fe railroad.Still, the past decade has been one of missed opportunities for Buffett—with the stake inApple(AAPL) the notable exception.While the recently disclosed big purchasesinVerizon Communications(VZ) andChevron(CVX) made waves, Berkshire was likely a net seller of about $9 billion of stocks last year. The company also failed to capitalize on the market turmoil and make any big acquisitions.So what else might Berkshire shareholders hope to see in the annual letter? More disclosure would help. It’s hard to know exactly how well Precision Castparts and other major Berkshire businesses are doing because the company doesn’t break out their results.There is also the question of succession, with Buffett turning 90 last August. Buffett could give up the CEO job to Berkshire’s vice chairman, Greg Abel, while remaining chairman and continuing to oversee Berkshire’s investment portfolio, including $270 billion of stocks.Berkshire hasn’t named an heir apparent to Buffett, but it’s widely assumed to be Abel, 58, who oversees Berkshire’s vast noninsurance operations, including Burlington Northern.That would give Abel important experience while Buffett is still on the scene, allowing Abel to take new steps, like potentially holding Berkshire’s first investor day.And whether it is Abel or someone else, a dividend would take pressure off Buffett’s successor to reinvest Berkshire’s earnings torrent and align the conglomerate with most other giant companies.","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360890451,"gmtCreate":1613880135773,"gmtModify":1704885640797,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"Test post for free coins","listText":"Test post for free coins","text":"Test post for free coins","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/360890451","isVote":1,"tweetType":1,"viewCount":619,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360890126,"gmtCreate":1613880076765,"gmtModify":1704885639940,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/360890126","repostId":"2112149478","repostType":4,"repost":{"id":"2112149478","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1613724786,"share":"https://ttm.financial/m/news/2112149478?lang=en_US&edition=fundamental","pubTime":"2021-02-19 16:53","market":"other","language":"en","title":"Dollar slips further after disappointing jobs data, sterling shines","url":"https://stock-news.laohu8.com/highlight/detail?id=2112149478","media":"Reuters","summary":"LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after di","content":"<p>LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.</p>\n<p>The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.</p>\n<p>But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.</p>\n<p>On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.</p>\n<p>The string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.</p>\n<p>The euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.</p>\n<p>Despite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.</p>\n<p>ING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"</p>\n<p>They see the greenback index trading down to the 90.10 to 91.05 range&nbsp;Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.</p>\n<p>Given the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.</p>\n<p>The dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.</p>\n<p>Many analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.</p>\n<p>\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.</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>Dollar slips further after disappointing jobs data, sterling shines</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDollar slips further after disappointing jobs data, sterling shines\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-19 16:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.</p>\n<p>The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.</p>\n<p>But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.</p>\n<p>On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.</p>\n<p>The string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.</p>\n<p>The euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.</p>\n<p>Despite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.</p>\n<p>ING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"</p>\n<p>They see the greenback index trading down to the 90.10 to 91.05 range&nbsp;Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.</p>\n<p>Given the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.</p>\n<p>The dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.</p>\n<p>Many analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.</p>\n<p>\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YCS":"日元ETF-ProShares两倍做空","FXE":"欧元做多ETF-CurrencyShares","FXA":"澳元ETF-CurrencyShares","FXC":"加元ETF-CurrencyShares","ANZ.AU":"ANZ GROUP HOLDINGS LTD","FXY":"日元ETF-CurrencyShares","EUO":"欧元ETF-ProShares两倍做空"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2112149478","content_text":"LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.\nThe U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.\nBut an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.\nOn Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.\nThe string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.\nThe euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.\nDespite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.\nING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"\nThey see the greenback index trading down to the 90.10 to 91.05 range Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.\nGiven the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.\nThe dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.\nMany analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.\n\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.","news_type":1,"symbols_score_info":{"EUO":0.9,"YCS":0.9,"MEURmain":0.9,"JPYmain":0.9,"FXC":0.9,"CADmain":0.9,"EURmain":0.9,"ANZ.AU":0.9,"FXA":0.9,"AUDmain":0.9,"FXE":0.9,"FXY":0.9,"MAUDmain":0.9}},"isVote":1,"tweetType":1,"viewCount":931,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":384374625,"gmtCreate":1613620858067,"gmtModify":1704882809982,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"Hi, posting to get coins","listText":"Hi, posting to get coins","text":"Hi, posting to get coins","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/384374625","isVote":1,"tweetType":1,"viewCount":499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385298073,"gmtCreate":1613552670792,"gmtModify":1704881910853,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/385298073","repostId":"385293330","repostType":1,"repost":{"id":385293330,"gmtCreate":1613552499415,"gmtModify":1704881909240,"author":{"id":"58341441844653","authorId":"58341441844653","name":"孟浩","avatar":"https://static.tigerbbs.com/483039f7d05988e78e38a07bc2e5c3db","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"58341441844653","idStr":"58341441844653"},"themes":[],"title":"【財報前瞻】百度財報有哪些看點？","htmlText":"百度計劃於今天（2月17日）盤後發佈Q4財報，財報前，還能上車嗎？這篇文章想與大家探討一下百度本次財報的看點。 先來簡單回顧一下Q3財報 老規矩，在分析本次財報前，先簡單回顧一下百度Q3財報，報告顯示， 百度Q3總營收爲人民幣282億元，與去年同期相比增長1%，與上一季度相比增長8%，超過分析師預期 Q3淨利潤爲人民幣137億元，相比之下去年同期的淨虧損爲人民幣64億元，與上一季度相比增長282%。超過分析師預期 3季度，在線廣告市場需求逐步恢復，教育、醫療、汽車等大部分垂直廣告行業的預算也基本恢復到疫情之前的水平，百度在線廣告收入逐步恢復增長動力。 除了財報之外，百度Q3還有一大亮點，就是順便公佈了謠傳已久的“收購YY”案：36億美元全現金收購<a target=\"_blank\" href=\"https://laohu8.com/S/YY\">$歡聚集團(YY)$</a>的國內業務部分（也就是秀場直播那部分），YY海外業務例如Bigo、Likee依舊保留單獨運營。此次收購對於百度意義重大，短視頻的變現在近些年不斷侵蝕百度的廣告業務，收購YY可以從直播入手，抵擋攻擊，穩步業務。 關於Q4財報的幾點看法 聊完了上季度的財報回顧，迴歸正題，今天來談談對於4季度財報的預期。根據彭博終端的數據，財報前分析師預計百度4季度收入300.56億元，調整後EPS爲16.97。 從百度歷史的財報表現來看，過去的8次財報中，僅有1次百度財報未及預期，應該說百度還是很擅長預期管理的，超預期是大概率事件。不過財報超預期並不能爲百度帶來大漲，因此以下的幾點可能變得尤爲重要。 核心搜索業務增速 正如我上文提到的，核心搜索業務無論從流量還是停留時長方面都有復甦，根據天灝資本的數據顯示，百度用戶停留時長與去年同期相比增長5.8%，MAU同比增長10.6%。教育、醫療、汽車等大部分垂直廣告行業的預算也基本恢復","listText":"百度計劃於今天（2月17日）盤後發佈Q4財報，財報前，還能上車嗎？這篇文章想與大家探討一下百度本次財報的看點。 先來簡單回顧一下Q3財報 老規矩，在分析本次財報前，先簡單回顧一下百度Q3財報，報告顯示， 百度Q3總營收爲人民幣282億元，與去年同期相比增長1%，與上一季度相比增長8%，超過分析師預期 Q3淨利潤爲人民幣137億元，相比之下去年同期的淨虧損爲人民幣64億元，與上一季度相比增長282%。超過分析師預期 3季度，在線廣告市場需求逐步恢復，教育、醫療、汽車等大部分垂直廣告行業的預算也基本恢復到疫情之前的水平，百度在線廣告收入逐步恢復增長動力。 除了財報之外，百度Q3還有一大亮點，就是順便公佈了謠傳已久的“收購YY”案：36億美元全現金收購<a target=\"_blank\" href=\"https://laohu8.com/S/YY\">$歡聚集團(YY)$</a>的國內業務部分（也就是秀場直播那部分），YY海外業務例如Bigo、Likee依舊保留單獨運營。此次收購對於百度意義重大，短視頻的變現在近些年不斷侵蝕百度的廣告業務，收購YY可以從直播入手，抵擋攻擊，穩步業務。 關於Q4財報的幾點看法 聊完了上季度的財報回顧，迴歸正題，今天來談談對於4季度財報的預期。根據彭博終端的數據，財報前分析師預計百度4季度收入300.56億元，調整後EPS爲16.97。 從百度歷史的財報表現來看，過去的8次財報中，僅有1次百度財報未及預期，應該說百度還是很擅長預期管理的，超預期是大概率事件。不過財報超預期並不能爲百度帶來大漲，因此以下的幾點可能變得尤爲重要。 核心搜索業務增速 正如我上文提到的，核心搜索業務無論從流量還是停留時長方面都有復甦，根據天灝資本的數據顯示，百度用戶停留時長與去年同期相比增長5.8%，MAU同比增長10.6%。教育、醫療、汽車等大部分垂直廣告行業的預算也基本恢復","text":"百度計劃於今天（2月17日）盤後發佈Q4財報，財報前，還能上車嗎？這篇文章想與大家探討一下百度本次財報的看點。 先來簡單回顧一下Q3財報 老規矩，在分析本次財報前，先簡單回顧一下百度Q3財報，報告顯示， 百度Q3總營收爲人民幣282億元，與去年同期相比增長1%，與上一季度相比增長8%，超過分析師預期 Q3淨利潤爲人民幣137億元，相比之下去年同期的淨虧損爲人民幣64億元，與上一季度相比增長282%。超過分析師預期 3季度，在線廣告市場需求逐步恢復，教育、醫療、汽車等大部分垂直廣告行業的預算也基本恢復到疫情之前的水平，百度在線廣告收入逐步恢復增長動力。 除了財報之外，百度Q3還有一大亮點，就是順便公佈了謠傳已久的“收購YY”案：36億美元全現金收購$歡聚集團(YY)$的國內業務部分（也就是秀場直播那部分），YY海外業務例如Bigo、Likee依舊保留單獨運營。此次收購對於百度意義重大，短視頻的變現在近些年不斷侵蝕百度的廣告業務，收購YY可以從直播入手，抵擋攻擊，穩步業務。 關於Q4財報的幾點看法 聊完了上季度的財報回顧，迴歸正題，今天來談談對於4季度財報的預期。根據彭博終端的數據，財報前分析師預計百度4季度收入300.56億元，調整後EPS爲16.97。 從百度歷史的財報表現來看，過去的8次財報中，僅有1次百度財報未及預期，應該說百度還是很擅長預期管理的，超預期是大概率事件。不過財報超預期並不能爲百度帶來大漲，因此以下的幾點可能變得尤爲重要。 核心搜索業務增速 正如我上文提到的，核心搜索業務無論從流量還是停留時長方面都有復甦，根據天灝資本的數據顯示，百度用戶停留時長與去年同期相比增長5.8%，MAU同比增長10.6%。教育、醫療、汽車等大部分垂直廣告行業的預算也基本恢復","images":[{"img":"https://static.tigerbbs.com/68468a8cc09457b6c60d07d74dccba56","width":"1166","height":"768"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/385293330","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":576,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385291159,"gmtCreate":1613552620871,"gmtModify":1704881910207,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/385291159","repostId":"1120526689","repostType":4,"repost":{"id":"1120526689","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1613542946,"share":"https://ttm.financial/m/news/1120526689?lang=en_US&edition=fundamental","pubTime":"2021-02-17 14:22","market":"uk","language":"en","title":"Europe braces for pandemic reality to hit banks","url":"https://stock-news.laohu8.com/highlight/detail?id=1120526689","media":"Reuters","summary":"Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-star","content":"<p>Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-started a debate among politicians about whether they may ultimately need state help.</p>\n<p>Reflecting on the pandemic impact, many bank executives say the worst is behind them, with Societe Generale CEO Frederic Oudea and BNP Paribas CEO Jean-Laurent Bonnafe predicting an imminent rebound.</p>\n<p>“Optimism is ... a weapon of war,” Philippe Brassac, chief executive of Credit Agricole said in January, decrying “doom-mongers”. “And this war, we can win.”</p>\n<p>All three French lenders saw profits shrink last year and profits at Spain’s Santander and Dutch bank ING also dipped.</p>\n<p>While executives voice confidence, European officials worry the banks’ problems have barely begun.</p>\n<p>They fear more borrowers will default when government support, including billions of euros of loan guarantees in France, Spain and elsewhere, is unwound.</p>\n<p>Officials spelt out their concerns in a report presented to euro zone finance ministers who met on Monday, warning of “wide-scale corporate distress”.</p>\n<p>In the document, they highlighted the extent to which banks rely on governments to help borrowers.</p>\n<p>Were it not for government support, they estimated roughly a quarter of EU firms could have been in trouble at the end of last year and cautioned that banks’ provisions for such losses did not reflect the “underlying deterioration”.</p>\n<p>Roughly 587 billion euros ($712 billion) of loans were under moratoria and 289 billion euros of credit had been given on the back of public guarantees, they said, from a tally late last year.</p>\n<p>“We have to avoid a sharp rise in insolvencies,” Paolo Gentiloni, the European Union’s economy commissioner, told journalists after the ministers’ gathering.</p>\n<p>The same unease is felt at the European Central Bank, which supervises lenders.</p>\n<p>In January, it said banks were setting aside less for bad loans than rivals in the United States and it suspected some were not taking sufficient measures, skewing the calculation of risk to convey brighter prospects for the future.</p>\n<p>Both continents have unleashed billions to stem the economic fallout from the pandemic, although in Europe, a patchwork of independent states, the type of assistance, whether grant or guarantee, depends on which country is giving it.</p>\n<p>France, Italy and Spain have issued billions of guarantees on loans, while Germany made generous grants.</p>\n<p>Jerome Legras of Axiom Alternative Investments said the upbeat message of bankers jarred with that of regulators: “The message from the supervisor is almost the exact opposite.”</p>\n<p>The rosy picture painted by some executives is also at odds with data collected by the European Datawarehouse, which has analysed half a trillion euros of European mortgage loans.</p>\n<p>Its survey last December calculated that one fifth of loans in the United Kingdom had required a payment break, followed closely by Portugal as well as Italy, with more than 12%, and Ireland with around 10%.</p>\n<p>One euro zone official, speaking on condition of anonymity, said that while banks were largely robust, “some ... may run into problems or have to be wound up”.</p>\n<p>Despite the concern of European officials, deep divisions remain over how to respond.</p>\n<p>Although the 19-country euro zone bloc agreed to put the central bank in charge of supervising lenders after the financial crash more than a decade ago, they remain at odds on what to do if lenders run into trouble.</p>\n<p>Wealthy countries, such as Germany, are reluctant to help poorer ones, such as Italy or Greece, by establishing a joint rescue net.</p>\n<p>Klaus Regling, head of the European Stability Mechanism, told journalists on Monday that the ESM fund, set up during the great financial crash to help countries in trouble, could be used in winding up banks from next year.</p>\n<p>“We have created a strong second line of defence,” he said, pointing to the knock-on impact of rising insolvencies on banks and governments.</p>\n<p>Deciding on joint action such as resorting to the ESM, however, is highly political. Efforts by the European Central Bank, for example, to set up a pan-euro-zone bad bank to help lenders warehouse and sell off troubled loans have made scant progress.</p>\n<p>In the meantime, many bankers hope for the best.</p>\n<p>“There will be light at the end of the tunnel,” said Steven van Rijswijk, CEO of ING. “Where the tunnel ends we do not know.”</p>\n<p>($1 = 0.8226 euros)</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>Europe braces for pandemic reality to hit banks</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\">\nEurope braces for pandemic reality to hit banks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-17 14:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-started a debate among politicians about whether they may ultimately need state help.</p>\n<p>Reflecting on the pandemic impact, many bank executives say the worst is behind them, with Societe Generale CEO Frederic Oudea and BNP Paribas CEO Jean-Laurent Bonnafe predicting an imminent rebound.</p>\n<p>“Optimism is ... a weapon of war,” Philippe Brassac, chief executive of Credit Agricole said in January, decrying “doom-mongers”. “And this war, we can win.”</p>\n<p>All three French lenders saw profits shrink last year and profits at Spain’s Santander and Dutch bank ING also dipped.</p>\n<p>While executives voice confidence, European officials worry the banks’ problems have barely begun.</p>\n<p>They fear more borrowers will default when government support, including billions of euros of loan guarantees in France, Spain and elsewhere, is unwound.</p>\n<p>Officials spelt out their concerns in a report presented to euro zone finance ministers who met on Monday, warning of “wide-scale corporate distress”.</p>\n<p>In the document, they highlighted the extent to which banks rely on governments to help borrowers.</p>\n<p>Were it not for government support, they estimated roughly a quarter of EU firms could have been in trouble at the end of last year and cautioned that banks’ provisions for such losses did not reflect the “underlying deterioration”.</p>\n<p>Roughly 587 billion euros ($712 billion) of loans were under moratoria and 289 billion euros of credit had been given on the back of public guarantees, they said, from a tally late last year.</p>\n<p>“We have to avoid a sharp rise in insolvencies,” Paolo Gentiloni, the European Union’s economy commissioner, told journalists after the ministers’ gathering.</p>\n<p>The same unease is felt at the European Central Bank, which supervises lenders.</p>\n<p>In January, it said banks were setting aside less for bad loans than rivals in the United States and it suspected some were not taking sufficient measures, skewing the calculation of risk to convey brighter prospects for the future.</p>\n<p>Both continents have unleashed billions to stem the economic fallout from the pandemic, although in Europe, a patchwork of independent states, the type of assistance, whether grant or guarantee, depends on which country is giving it.</p>\n<p>France, Italy and Spain have issued billions of guarantees on loans, while Germany made generous grants.</p>\n<p>Jerome Legras of Axiom Alternative Investments said the upbeat message of bankers jarred with that of regulators: “The message from the supervisor is almost the exact opposite.”</p>\n<p>The rosy picture painted by some executives is also at odds with data collected by the European Datawarehouse, which has analysed half a trillion euros of European mortgage loans.</p>\n<p>Its survey last December calculated that one fifth of loans in the United Kingdom had required a payment break, followed closely by Portugal as well as Italy, with more than 12%, and Ireland with around 10%.</p>\n<p>One euro zone official, speaking on condition of anonymity, said that while banks were largely robust, “some ... may run into problems or have to be wound up”.</p>\n<p>Despite the concern of European officials, deep divisions remain over how to respond.</p>\n<p>Although the 19-country euro zone bloc agreed to put the central bank in charge of supervising lenders after the financial crash more than a decade ago, they remain at odds on what to do if lenders run into trouble.</p>\n<p>Wealthy countries, such as Germany, are reluctant to help poorer ones, such as Italy or Greece, by establishing a joint rescue net.</p>\n<p>Klaus Regling, head of the European Stability Mechanism, told journalists on Monday that the ESM fund, set up during the great financial crash to help countries in trouble, could be used in winding up banks from next year.</p>\n<p>“We have created a strong second line of defence,” he said, pointing to the knock-on impact of rising insolvencies on banks and governments.</p>\n<p>Deciding on joint action such as resorting to the ESM, however, is highly political. Efforts by the European Central Bank, for example, to set up a pan-euro-zone bad bank to help lenders warehouse and sell off troubled loans have made scant progress.</p>\n<p>In the meantime, many bankers hope for the best.</p>\n<p>“There will be light at the end of the tunnel,” said Steven van Rijswijk, CEO of ING. “Where the tunnel ends we do not know.”</p>\n<p>($1 = 0.8226 euros)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DB":"德意志银行","0H7D.UK":"德意志银行","0J6Y.UK":"法国兴业银行","0HB5.UK":"法国巴黎银行"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120526689","content_text":"Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-started a debate among politicians about whether they may ultimately need state help.\nReflecting on the pandemic impact, many bank executives say the worst is behind them, with Societe Generale CEO Frederic Oudea and BNP Paribas CEO Jean-Laurent Bonnafe predicting an imminent rebound.\n“Optimism is ... a weapon of war,” Philippe Brassac, chief executive of Credit Agricole said in January, decrying “doom-mongers”. “And this war, we can win.”\nAll three French lenders saw profits shrink last year and profits at Spain’s Santander and Dutch bank ING also dipped.\nWhile executives voice confidence, European officials worry the banks’ problems have barely begun.\nThey fear more borrowers will default when government support, including billions of euros of loan guarantees in France, Spain and elsewhere, is unwound.\nOfficials spelt out their concerns in a report presented to euro zone finance ministers who met on Monday, warning of “wide-scale corporate distress”.\nIn the document, they highlighted the extent to which banks rely on governments to help borrowers.\nWere it not for government support, they estimated roughly a quarter of EU firms could have been in trouble at the end of last year and cautioned that banks’ provisions for such losses did not reflect the “underlying deterioration”.\nRoughly 587 billion euros ($712 billion) of loans were under moratoria and 289 billion euros of credit had been given on the back of public guarantees, they said, from a tally late last year.\n“We have to avoid a sharp rise in insolvencies,” Paolo Gentiloni, the European Union’s economy commissioner, told journalists after the ministers’ gathering.\nThe same unease is felt at the European Central Bank, which supervises lenders.\nIn January, it said banks were setting aside less for bad loans than rivals in the United States and it suspected some were not taking sufficient measures, skewing the calculation of risk to convey brighter prospects for the future.\nBoth continents have unleashed billions to stem the economic fallout from the pandemic, although in Europe, a patchwork of independent states, the type of assistance, whether grant or guarantee, depends on which country is giving it.\nFrance, Italy and Spain have issued billions of guarantees on loans, while Germany made generous grants.\nJerome Legras of Axiom Alternative Investments said the upbeat message of bankers jarred with that of regulators: “The message from the supervisor is almost the exact opposite.”\nThe rosy picture painted by some executives is also at odds with data collected by the European Datawarehouse, which has analysed half a trillion euros of European mortgage loans.\nIts survey last December calculated that one fifth of loans in the United Kingdom had required a payment break, followed closely by Portugal as well as Italy, with more than 12%, and Ireland with around 10%.\nOne euro zone official, speaking on condition of anonymity, said that while banks were largely robust, “some ... may run into problems or have to be wound up”.\nDespite the concern of European officials, deep divisions remain over how to respond.\nAlthough the 19-country euro zone bloc agreed to put the central bank in charge of supervising lenders after the financial crash more than a decade ago, they remain at odds on what to do if lenders run into trouble.\nWealthy countries, such as Germany, are reluctant to help poorer ones, such as Italy or Greece, by establishing a joint rescue net.\nKlaus Regling, head of the European Stability Mechanism, told journalists on Monday that the ESM fund, set up during the great financial crash to help countries in trouble, could be used in winding up banks from next year.\n“We have created a strong second line of defence,” he said, pointing to the knock-on impact of rising insolvencies on banks and governments.\nDeciding on joint action such as resorting to the ESM, however, is highly political. Efforts by the European Central Bank, for example, to set up a pan-euro-zone bad bank to help lenders warehouse and sell off troubled loans have made scant progress.\nIn the meantime, many bankers hope for the best.\n“There will be light at the end of the tunnel,” said Steven van Rijswijk, CEO of ING. “Where the tunnel ends we do not know.”\n($1 = 0.8226 euros)","news_type":1,"symbols_score_info":{"DB":0.9,"0HB5.UK":0.9,"0J6Y.UK":0.9,"0H7D.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":826,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382202528,"gmtCreate":1613448289564,"gmtModify":1704880561141,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"Good read!","listText":"Good read!","text":"Good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/382202528","repostId":"1129378089","repostType":4,"repost":{"id":"1129378089","kind":"news","pubTimestamp":1613443161,"share":"https://ttm.financial/m/news/1129378089?lang=en_US&edition=fundamental","pubTime":"2021-02-16 10:39","market":"us","language":"en","title":"The New York Stock Exchange president says the stock market is not a casino. Here’s what academic research says.","url":"https://stock-news.laohu8.com/highlight/detail?id=1129378089","media":"MarketWatch","summary":"With the wild moves in the stocks of GameStop and AMC Entertainment,or last week in cannabis makers,","content":"<p>With the wild moves in the stocks of GameStop&nbsp;and AMC Entertainment,or last week in cannabis makers, it’s not illogical that some think of the stock market as a casino, a description recently used by Sen. Elizabeth Warren, the Massachusetts Democrat.</p>\n<p>In an&nbsp;interview with Axios that was aired on HBO, Stacey Cunningham, the president of the New York Stock Exchange, a unit of the Intercontinental Exchange,said she rejected that comparison.</p>\n<blockquote>\n “The markets are not a casino. They are highly regulated and they’re highly overseen. … We are running a market that provides opportunities for investors to come in, invest in the companies they believe in, they believe that are gonna grow, and then share in that wealth creation.”\n</blockquote>\n<p>Casinos, it should be pointed out, also are highly regulated and overseen, though unlike the stock market there are no long-term positions that can be built in, say, a game of blackjack.</p>\n<p>Academic research suggests stock-market trading and more traditional gambling have quite a bit in common. One paper published in January says there’s 3.5 times more gambling in stock markets than in more traditional venues like casinos and lotteries.</p>\n<p>The paper — from Alok Kumar of the University of Miami, Houng Nguyen of the University of Danang, and Talis Putnins at the University of Technology Sydney and Stockholm School of Economics — says the U.S. and Hong Kong have the highest per capita levels of what they call stock-market gambling in the world. They identify so-called lottery stocks by looking at volume divided by market cap, and looking for unusually large ratios.</p>\n<p>That’s not to say all stock market investing is gambling. The researchers say about 15% of stock market volume in the U.S. is associated with gambling, a percentage that runs as high as 30% in the stock markets of China and Thailand.</p>","source":"market_watch","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 New York Stock Exchange president says the stock market is not a casino. Here’s what academic research says.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe New York Stock Exchange president says the stock market is not a casino. Here’s what academic research says.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-16 10:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/the-new-york-stock-exchange-president-says-the-stock-market-is-not-a-casino-heres-what-academic-research-says-11613396805?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With the wild moves in the stocks of GameStop and AMC Entertainment,or last week in cannabis makers, it’s not illogical that some think of the stock market as a casino, a description recently used by ...</p>\n\n<a href=\"https://www.marketwatch.com/story/the-new-york-stock-exchange-president-says-the-stock-market-is-not-a-casino-heres-what-academic-research-says-11613396805?mod=home-page\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","GME":"游戏驿站","ICE":"洲际交易所","AMC":"AMC院线",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/the-new-york-stock-exchange-president-says-the-stock-market-is-not-a-casino-heres-what-academic-research-says-11613396805?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1129378089","content_text":"With the wild moves in the stocks of GameStop and AMC Entertainment,or last week in cannabis makers, it’s not illogical that some think of the stock market as a casino, a description recently used by Sen. Elizabeth Warren, the Massachusetts Democrat.\nIn an interview with Axios that was aired on HBO, Stacey Cunningham, the president of the New York Stock Exchange, a unit of the Intercontinental Exchange,said she rejected that comparison.\n\n “The markets are not a casino. They are highly regulated and they’re highly overseen. … We are running a market that provides opportunities for investors to come in, invest in the companies they believe in, they believe that are gonna grow, and then share in that wealth creation.”\n\nCasinos, it should be pointed out, also are highly regulated and overseen, though unlike the stock market there are no long-term positions that can be built in, say, a game of blackjack.\nAcademic research suggests stock-market trading and more traditional gambling have quite a bit in common. One paper published in January says there’s 3.5 times more gambling in stock markets than in more traditional venues like casinos and lotteries.\nThe paper — from Alok Kumar of the University of Miami, Houng Nguyen of the University of Danang, and Talis Putnins at the University of Technology Sydney and Stockholm School of Economics — says the U.S. and Hong Kong have the highest per capita levels of what they call stock-market gambling in the world. They identify so-called lottery stocks by looking at volume divided by market cap, and looking for unusually large ratios.\nThat’s not to say all stock market investing is gambling. The researchers say about 15% of stock market volume in the U.S. is associated with gambling, a percentage that runs as high as 30% in the stock markets of China and Thailand.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"AMC":0.9,"GME":0.9,".SPX":0.9,"ICE":0.9}},"isVote":1,"tweetType":1,"viewCount":467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382367317,"gmtCreate":1613365904039,"gmtModify":1704880109141,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"Good post","listText":"Good post","text":"Good post","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/382367317","repostId":"1168862133","repostType":4,"repost":{"id":"1168862133","kind":"news","pubTimestamp":1613024272,"share":"https://ttm.financial/m/news/1168862133?lang=en_US&edition=fundamental","pubTime":"2021-02-11 14:17","market":"us","language":"en","title":"Best Stocks To Buy For 2021? 4 Fintech Stocks To Watch","url":"https://stock-news.laohu8.com/highlight/detail?id=1168862133","media":"Nasdaq","summary":"If you’re caught up on the latestBitcoin news, you likely know thatfintech stocksare in the hot seat","content":"<p>If you’re caught up on the latestBitcoin news, you likely know thatfintech stocksare in the hot seat right now. This is thanks to a $1.5 billion investment into the cryptocurrency from electric vehicle titan Tesla (NASDAQ: TSLA). It is one of the latest large tech companies to not only invest in but eventually start acceptingBitcoinas payment. In fact, there have even been speculations of Apple (NASDAQ: AAPL) being well-positioned to join the cryptocurrency craze as well. How does this connect to fintech stocks?</p>\n<p>Well, to begin with, fintech companies are the bridge that allows most of the general public access to cryptocurrencies such as Bitcoin. Alternatively, they are also key players in this current age of digital finance. Whatever way you cut it, the fintech industry is becoming more essential and is here to stay for the long run. Meanwhile, more conventional top fintech stocks like Mastercard (NYSE: MA) and American Express (NYSE: AXP) have mostly seen their shares recover to pre-pandemic levels. Therefore, investors would be logical in looking for thebest fintech stocks now. Having read till this point, you might be interested in investing in this industry yourself. If you are, here are four fintech stocks to consider now.</p>\n<p>Top Fintech Stocks To Watch</p>\n<ul>\n <li><b>Mogo Inc.</b>(NASDAQ: MOGO)</li>\n <li><b>PayPal Holdings Inc.</b>(NASDAQ: PYPL)</li>\n <li><b>Square Inc.</b>(NYSE: SQ)</li>\n <li><b>Green Dot Corporation</b>(NYSE: GDOT)</li>\n</ul>\n<p>Mogo Inc.</p>\n<p>Starting us off is Canadian fintech company Mogo. It offers a wide range of financial services ranging from personal loans, mortgages, a Visa Prepaid Card, and credit score viewing. More importantly, the company also facilitates Bitcoin transactions. This particular service has exploded together with the price of the cryptocurrency over the last month. Mogo saw massive month-over-month jumps of 141% in new Bitcoin accounts added and 323% in Bitcoin transaction volume in January. Likewise, MOGO stock is currently up by over 160% year-to-date. Aside from Bitcoin-related tailwinds, the company has also been hard at work expanding its financial portfolio.</p>\n<p>For starters, Mogo acquired leading digital payments solutions provider Carta Worldwide, over two weeks ago. This move expanded Mogo’s addressable market by entering the global $2.5 trillion payments market. Following that, the company expanded into Japan last week via Carta. According to Mogo, this move was in support of the TransferWise multi-currency debit card launch in the country. With this move, Mogo continues to expand its market reach globally and seems eager to make the most of its newly acquired subsidiary. With the company firing on all cylinders now, will you be watching MOGO stock?</p>\n<p>PayPal Holdings Inc.</p>\n<p>Following that, we will be looking at fintech giant, PayPal. Just like our other entries on this list, the company does facilitate cryptocurrency transactions for its clients. Last week, PayPal reported record figures across the board. For its fourth quarter, the company saw a total payment volume (TPV) of $277 billion, a 39% increase year-over-year. Furthermore, the company’s earnings per share more than tripled over the same time as well. In detail, TPVs across its merchant services and Venmo app grew by 42% and 60% respectively. With PayPal riding both Bitcoin and pandemic tailwinds, PYPL stock continues to soar to greater heights. It has gained by over 230% since the March lows and closed yesterday at a record high. Investors may be wondering if it still has room to run moving forward.</p>\n<p>For one thing, the company does not seem to be slowing down anytime soon. Yesterday, it announced a new collaboration with global commerce solutions provider Digital River (DR). To summarize, PayPal now has a new ‘pay later’ option available to U.S. clients on DR’s e-commerce platform.<i>The “Pay in 4</i>” feature will allow customers to pay for items priced from $30 to $600 across four interest-free payments. Simultaneously, merchants get paid upfront at no additional cost to the customer. As PayPal continues to make waves in the fintech space, could PYPL stock continue to flourish this year? You tell me.</p>\n<p>Square Inc.</p>\n<p>Another top fintech company on the radar now would be Square. Aside from its Bitcoin-related services, the leading fintech player does bring a lot to the table. Whether it is financial solutions, merchant services, or mobile payment, Square’s offerings compete with the best in the field. For the uninitiated, the company markets software and hardware payments products to businesses of all sizes. At the same time, its consumer-focused digital payment ecosystem, Cash App, has also seen mind-blowing growth in the past year. Square reported having 30 million monthly active users on the app which generated over $2 billion in revenue in its recent quarter. Seasoned investors would be familiar with the meteoric rise of the company. Indeed, SQ stock has and continues to impress with gains of over 200% in the past year. With the current focus on fintech, could investors continue to find more value in SQ stock?</p>\n<p>Well, it has been posting phenomenal figures on the business side of things. In its third-quarter fiscal reported in November, it saw a year-over-year surge of 139% in total revenue and 246% in cash on hand. Specifically, Cash App’s gross profit skyrocketed by 212% year-over-year. All things considered, will you be watching SQ stock ahead of Square’s upcomingearnings callon February 23?</p>\n<p>Green Dot Corporation</p>\n<p>Undoubtedly, Green Dot is a fintech industry-veteran that should not be overlooked. As it stands, Green Dot is the world’s largest prepaid debit card company by market capitalization. The company also boasts an impressive list of clients, to say the least. Its fintech partners include but are not limited to, Google (NASDAQ: GOOGL), Uber (NYSE: UBER), and Walmart (NYSE: WMT). Equally impressive is GDOT stock’s growth of over 220% since the March selloffs. With Green Dot slated to release its fourth-quarter earnings on February 22, I can see investors watching GDOT stock closely.</p>\n<p>For the most part, the company has been hard at work maintaining its current momentum. Last month, the company launched a new mobile bank focused on addressing the two in three Americans “<i>living from paycheck to paycheck</i>”. Through this, Green Dot is leveraging its rich industry experience to provide affordable banking solutions for clients in need. In the long run, this could play out well for Green Dot as it engages consumers amidst these troubling times. Moreover, the company appointed a new CTO in Gyorgy Tomso last week. CEO Dan Henry said, “<i>Gyorgy is a fintech veteran whose deep experience leading technology strategy for financial services companies is going to be instrumental in Green Dot’s growth as a leading fintech.</i>” Has all this convinced you to add GDOT to your watchlist?</p>","source":"lsy1603171495471","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>Best Stocks To Buy For 2021? 4 Fintech Stocks To Watch</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\">\nBest Stocks To Buy For 2021? 4 Fintech Stocks To Watch\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-11 14:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.nasdaq.com/articles/best-stocks-to-buy-for-2021-4-fintech-stocks-to-watch-2021-02-10><strong>Nasdaq</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re caught up on the latestBitcoin news, you likely know thatfintech stocksare in the hot seat right now. This is thanks to a $1.5 billion investment into the cryptocurrency from electric ...</p>\n\n<a href=\"https://www.nasdaq.com/articles/best-stocks-to-buy-for-2021-4-fintech-stocks-to-watch-2021-02-10\">Source 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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.nasdaq.com/articles/best-stocks-to-buy-for-2021-4-fintech-stocks-to-watch-2021-02-10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168862133","content_text":"If you’re caught up on the latestBitcoin news, you likely know thatfintech stocksare in the hot seat right now. This is thanks to a $1.5 billion investment into the cryptocurrency from electric vehicle titan Tesla (NASDAQ: TSLA). It is one of the latest large tech companies to not only invest in but eventually start acceptingBitcoinas payment. In fact, there have even been speculations of Apple (NASDAQ: AAPL) being well-positioned to join the cryptocurrency craze as well. How does this connect to fintech stocks?\nWell, to begin with, fintech companies are the bridge that allows most of the general public access to cryptocurrencies such as Bitcoin. Alternatively, they are also key players in this current age of digital finance. Whatever way you cut it, the fintech industry is becoming more essential and is here to stay for the long run. Meanwhile, more conventional top fintech stocks like Mastercard (NYSE: MA) and American Express (NYSE: AXP) have mostly seen their shares recover to pre-pandemic levels. Therefore, investors would be logical in looking for thebest fintech stocks now. Having read till this point, you might be interested in investing in this industry yourself. If you are, here are four fintech stocks to consider now.\nTop Fintech Stocks To Watch\n\nMogo Inc.(NASDAQ: MOGO)\nPayPal Holdings Inc.(NASDAQ: PYPL)\nSquare Inc.(NYSE: SQ)\nGreen Dot Corporation(NYSE: GDOT)\n\nMogo Inc.\nStarting us off is Canadian fintech company Mogo. It offers a wide range of financial services ranging from personal loans, mortgages, a Visa Prepaid Card, and credit score viewing. More importantly, the company also facilitates Bitcoin transactions. This particular service has exploded together with the price of the cryptocurrency over the last month. Mogo saw massive month-over-month jumps of 141% in new Bitcoin accounts added and 323% in Bitcoin transaction volume in January. Likewise, MOGO stock is currently up by over 160% year-to-date. Aside from Bitcoin-related tailwinds, the company has also been hard at work expanding its financial portfolio.\nFor starters, Mogo acquired leading digital payments solutions provider Carta Worldwide, over two weeks ago. This move expanded Mogo’s addressable market by entering the global $2.5 trillion payments market. Following that, the company expanded into Japan last week via Carta. According to Mogo, this move was in support of the TransferWise multi-currency debit card launch in the country. With this move, Mogo continues to expand its market reach globally and seems eager to make the most of its newly acquired subsidiary. With the company firing on all cylinders now, will you be watching MOGO stock?\nPayPal Holdings Inc.\nFollowing that, we will be looking at fintech giant, PayPal. Just like our other entries on this list, the company does facilitate cryptocurrency transactions for its clients. Last week, PayPal reported record figures across the board. For its fourth quarter, the company saw a total payment volume (TPV) of $277 billion, a 39% increase year-over-year. Furthermore, the company’s earnings per share more than tripled over the same time as well. In detail, TPVs across its merchant services and Venmo app grew by 42% and 60% respectively. With PayPal riding both Bitcoin and pandemic tailwinds, PYPL stock continues to soar to greater heights. It has gained by over 230% since the March lows and closed yesterday at a record high. Investors may be wondering if it still has room to run moving forward.\nFor one thing, the company does not seem to be slowing down anytime soon. Yesterday, it announced a new collaboration with global commerce solutions provider Digital River (DR). To summarize, PayPal now has a new ‘pay later’ option available to U.S. clients on DR’s e-commerce platform.The “Pay in 4” feature will allow customers to pay for items priced from $30 to $600 across four interest-free payments. Simultaneously, merchants get paid upfront at no additional cost to the customer. As PayPal continues to make waves in the fintech space, could PYPL stock continue to flourish this year? You tell me.\nSquare Inc.\nAnother top fintech company on the radar now would be Square. Aside from its Bitcoin-related services, the leading fintech player does bring a lot to the table. Whether it is financial solutions, merchant services, or mobile payment, Square’s offerings compete with the best in the field. For the uninitiated, the company markets software and hardware payments products to businesses of all sizes. At the same time, its consumer-focused digital payment ecosystem, Cash App, has also seen mind-blowing growth in the past year. Square reported having 30 million monthly active users on the app which generated over $2 billion in revenue in its recent quarter. Seasoned investors would be familiar with the meteoric rise of the company. Indeed, SQ stock has and continues to impress with gains of over 200% in the past year. With the current focus on fintech, could investors continue to find more value in SQ stock?\nWell, it has been posting phenomenal figures on the business side of things. In its third-quarter fiscal reported in November, it saw a year-over-year surge of 139% in total revenue and 246% in cash on hand. Specifically, Cash App’s gross profit skyrocketed by 212% year-over-year. All things considered, will you be watching SQ stock ahead of Square’s upcomingearnings callon February 23?\nGreen Dot Corporation\nUndoubtedly, Green Dot is a fintech industry-veteran that should not be overlooked. As it stands, Green Dot is the world’s largest prepaid debit card company by market capitalization. The company also boasts an impressive list of clients, to say the least. Its fintech partners include but are not limited to, Google (NASDAQ: GOOGL), Uber (NYSE: UBER), and Walmart (NYSE: WMT). Equally impressive is GDOT stock’s growth of over 220% since the March selloffs. With Green Dot slated to release its fourth-quarter earnings on February 22, I can see investors watching GDOT stock closely.\nFor the most part, the company has been hard at work maintaining its current momentum. Last month, the company launched a new mobile bank focused on addressing the two in three Americans “living from paycheck to paycheck”. Through this, Green Dot is leveraging its rich industry experience to provide affordable banking solutions for clients in need. In the long run, this could play out well for Green Dot as it engages consumers amidst these troubling times. Moreover, the company appointed a new CTO in Gyorgy Tomso last week. CEO Dan Henry said, “Gyorgy is a fintech veteran whose deep experience leading technology strategy for financial services companies is going to be instrumental in Green Dot’s growth as a leading fintech.” Has all this convinced you to add GDOT to your watchlist?","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":429,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382337697,"gmtCreate":1613361464019,"gmtModify":1704880069488,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/382337697","repostId":"2110904027","repostType":4,"isVote":1,"tweetType":1,"viewCount":689,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":386258853,"gmtCreate":1613188960072,"gmtModify":1704879337225,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571961662143942","idStr":"3571961662143942"},"themes":[],"htmlText":"Nice//<a href=\"https://laohu8.com/U/3571961662143942\">@Zacchaeus</a>:good","listText":"Nice//<a href=\"https://laohu8.com/U/3571961662143942\">@Zacchaeus</a>:good","text":"Nice//@Zacchaeus:good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/386258853","repostId":"2110026963","repostType":4,"repost":{"id":"2110026963","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":1613109422,"share":"https://ttm.financial/m/news/2110026963?lang=en_US&edition=fundamental","pubTime":"2021-02-12 13:57","market":"us","language":"en","title":"Here's the formula for spotting genuinely undervalued companies, claims this investment house","url":"https://stock-news.laohu8.com/highlight/detail?id=2110026963","media":"Dow Jones","summary":"The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis. For most of 2020, investors poured money into names like online retailer Amazon $$, electric-car maker Tesla $$, and e-commerce platform Shopify -- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.But when news broke in early November 2020 that drug company Pfizer $$ and its partner BioNTech $$ had developed an effective vaccine against COVID-19, something pro","content":"<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</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>Here's the formula for spotting genuinely undervalued companies, claims this investment house</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\">\nHere's the formula for spotting genuinely undervalued companies, claims this investment house\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-02-12 13:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/15e20574f8fb568333181d61bb200086","relate_stocks":{"TSLA":"特斯拉","AMZN":"亚马逊","PFE":"辉瑞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110026963","content_text":"MW Here's the formula for spotting genuinely undervalued companies, claims this investment house\nThe growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis\nFor most of 2020, investors poured money into names like online retailer Amazon $(AMZN)$, electric-car maker Tesla $(TSLA)$, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.\nBut when news broke in early November 2020 that drug company Pfizer $(PFE)$ and its partner BioNTech $(BNTX)$ had developed an effective vaccine against COVID-19, something profound happened in financial markets.\nInvestors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.\nThis rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.\nAnd it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.\nThe apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.\n\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.\n\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"\nAnalysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.\nThe value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.\nIn reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.\nStocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.\nTo have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.","news_type":1,"symbols_score_info":{"AMZN":0.9,"TSLA":0.9,"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":581,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":360468524,"gmtCreate":1613966646468,"gmtModify":1704886251853,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"??????","listText":"??????","text":"??????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/360468524","repostId":"1171414372","repostType":4,"repost":{"id":"1171414372","kind":"news","pubTimestamp":1613964674,"share":"https://ttm.financial/m/news/1171414372?lang=en_US&edition=fundamental","pubTime":"2021-02-22 11:31","market":"us","language":"en","title":"Warren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See.","url":"https://stock-news.laohu8.com/highlight/detail?id=1171414372","media":"Barrons","summary":"As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerks","content":"<p>As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerkshire Hathawayshare&nbsp;holders, the CEO has much to address.</p><p>They include the&nbsp;underperformance of Berkshire(ticker: BRK.A and BRK.B) shares over the past one, five, and 10 years, Buffett’s cautious approach to new investments, and the spotty record of Berkshire’s acquisitions over the past decade.</p><p>Yet that letter—due out on Feb. 27, along with the annual report and fourth-quarter earnings—can help write Berkshire’s next chapter. All it would need is an announcement of the initiation of a dividend.</p><p>A dividend of 2% would be a good start, representing about 40% of projected 2021 earnings. It would probably lift the stock by broadening the base of potential investors to those who want or need dividends.</p><p>Berkshire has stepped up its share repurchases, buying back $15.7 billion of stock in the first three quarters of 2020, or about 3% of the shares outstanding. But with $146 billion in cash and projected earnings this year of $25 billion, it has the ability to pay a dividend as well as to buy back stock.</p><p>“Berkshire should pay a dividend; this would increase the appeal of the shares to investors who want current income,” says David King, co-manager of the Columbia Flexible Capital Income fund. “Given Berkshire’s size and financial strength, the company is unique in paying no dividend and that should be changed.”</p><p><img src=\"https://static.tigerbbs.com/014471f5dbd6554ccdd4f23756e41a51\" tg-width=\"963\" tg-height=\"627\"></p><p>Berkshire hasn’t paid a dividend for over 50 years. Why? Buffett’s view has been that a dollar in his hands is better than one in the hands of shareholders. That was long the case as Buffett worked his investment and acquisition magic, but it has been less true in recent years. Buffett declined to comment for this article.</p><p>In his 2012 annual letter, the CEO addressed the dividend issue, arguing that the better, and more tax-efficient, approach would be for investors who want income to sell a small portion of their Berkshire stock each year.</p><p>“First, dividends impose a specific cash-out policy upon all shareholders. If, say, 40% of earnings is the policy, those who wish 30% or 50% will be thwarted,” Buffett wrote. “Our 600,000 shareholders cover the waterfront in their desires for cash. It is safe to say, however, that a great many of them—perhaps even most of them—are in a net-savings mode and logically should prefer no payment at all.”</p><p>In 2014, Berkshire holder&nbsp;soverwhelmingly rejected a proxy proposalon dividends.</p><p><img src=\"https://static.tigerbbs.com/d68e1f8f07f62b85a646a858fee9196c\" tg-width=\"956\" tg-height=\"571\" referrerpolicy=\"no-referrer\"></p><p>Yet Berkshire’s cash has more than doubled since then, notes Edward Jones analyst James Shanahan, who favors a dividend. “A dividend is a good idea if only because the cash balance has grown so much,” he says, adding that significant repurchases at Berkshire are more difficult than at other big companies because there is less liquidity in its stock.</p><p>Berkshire’s class A shares have lagged behind theS&amp;P 500 indexby 40 percentage points since the end of 2018. They now look appealing at around $368,000, less than 1.3 times estimated year-end 2020 book value of around $287,000 and about 23 times projected 2021 earnings. Its class B shares trade around $243.</p><p>Berkshire has traded at closer to 1.4 times book value in the past five years, and earnings are set to climb in 2021, thanks to businesses with exposure to an improving economy, like the Burlington Northern Santa Fe railroad.</p><p>Still, the past decade has been one of missed opportunities for Buffett—with the stake inApple(AAPL) the notable exception.While the recently disclosed big purchasesinVerizon Communications(VZ) andChevron(CVX) made waves, Berkshire was likely a net seller of about $9 billion of stocks last year. The company also failed to capitalize on the market turmoil and make any big acquisitions.</p><p>So what else might Berkshire shareholders hope to see in the annual letter? More disclosure would help. It’s hard to know exactly how well Precision Castparts and other major Berkshire businesses are doing because the company doesn’t break out their results.</p><p>There is also the question of succession, with Buffett turning 90 last August. Buffett could give up the CEO job to Berkshire’s vice chairman, Greg Abel, while remaining chairman and continuing to oversee Berkshire’s investment portfolio, including $270 billion of stocks.</p><p>Berkshire hasn’t named an heir apparent to Buffett, but it’s widely assumed to be Abel, 58, who oversees Berkshire’s vast noninsurance operations, including Burlington Northern.</p><p>That would give Abel important experience while Buffett is still on the scene, allowing Abel to take new steps, like potentially holding Berkshire’s first investor day.</p><p>And whether it is Abel or someone else, a dividend would take pressure off Buffett’s successor to reinvest Berkshire’s earnings torrent and align the conglomerate with most other giant companies.</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>Warren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See.</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\">\nWarren Buffett’s Letter to Shareholders Is Coming. What Investors Want to See.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-22 11:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/how-warren-buffetts-berkshire-hathaway-shareholder-letter-could-lift-the-companys-stock-51613778470?mod=hp_LEADSUPP_3><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerkshire Hathawayshare holders, the CEO has much to address.They include the underperformance of ...</p>\n\n<a href=\"https://www.barrons.com/articles/how-warren-buffetts-berkshire-hathaway-shareholder-letter-could-lift-the-companys-stock-51613778470?mod=hp_LEADSUPP_3\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://www.barrons.com/articles/how-warren-buffetts-berkshire-hathaway-shareholder-letter-could-lift-the-companys-stock-51613778470?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171414372","content_text":"As Warren Buffett prepares to put the finishing touches on his eagerly awaited annual letter toBerkshire Hathawayshare holders, the CEO has much to address.They include the underperformance of Berkshire(ticker: BRK.A and BRK.B) shares over the past one, five, and 10 years, Buffett’s cautious approach to new investments, and the spotty record of Berkshire’s acquisitions over the past decade.Yet that letter—due out on Feb. 27, along with the annual report and fourth-quarter earnings—can help write Berkshire’s next chapter. All it would need is an announcement of the initiation of a dividend.A dividend of 2% would be a good start, representing about 40% of projected 2021 earnings. It would probably lift the stock by broadening the base of potential investors to those who want or need dividends.Berkshire has stepped up its share repurchases, buying back $15.7 billion of stock in the first three quarters of 2020, or about 3% of the shares outstanding. But with $146 billion in cash and projected earnings this year of $25 billion, it has the ability to pay a dividend as well as to buy back stock.“Berkshire should pay a dividend; this would increase the appeal of the shares to investors who want current income,” says David King, co-manager of the Columbia Flexible Capital Income fund. “Given Berkshire’s size and financial strength, the company is unique in paying no dividend and that should be changed.”Berkshire hasn’t paid a dividend for over 50 years. Why? Buffett’s view has been that a dollar in his hands is better than one in the hands of shareholders. That was long the case as Buffett worked his investment and acquisition magic, but it has been less true in recent years. Buffett declined to comment for this article.In his 2012 annual letter, the CEO addressed the dividend issue, arguing that the better, and more tax-efficient, approach would be for investors who want income to sell a small portion of their Berkshire stock each year.“First, dividends impose a specific cash-out policy upon all shareholders. If, say, 40% of earnings is the policy, those who wish 30% or 50% will be thwarted,” Buffett wrote. “Our 600,000 shareholders cover the waterfront in their desires for cash. It is safe to say, however, that a great many of them—perhaps even most of them—are in a net-savings mode and logically should prefer no payment at all.”In 2014, Berkshire holder soverwhelmingly rejected a proxy proposalon dividends.Yet Berkshire’s cash has more than doubled since then, notes Edward Jones analyst James Shanahan, who favors a dividend. “A dividend is a good idea if only because the cash balance has grown so much,” he says, adding that significant repurchases at Berkshire are more difficult than at other big companies because there is less liquidity in its stock.Berkshire’s class A shares have lagged behind theS&P 500 indexby 40 percentage points since the end of 2018. They now look appealing at around $368,000, less than 1.3 times estimated year-end 2020 book value of around $287,000 and about 23 times projected 2021 earnings. Its class B shares trade around $243.Berkshire has traded at closer to 1.4 times book value in the past five years, and earnings are set to climb in 2021, thanks to businesses with exposure to an improving economy, like the Burlington Northern Santa Fe railroad.Still, the past decade has been one of missed opportunities for Buffett—with the stake inApple(AAPL) the notable exception.While the recently disclosed big purchasesinVerizon Communications(VZ) andChevron(CVX) made waves, Berkshire was likely a net seller of about $9 billion of stocks last year. The company also failed to capitalize on the market turmoil and make any big acquisitions.So what else might Berkshire shareholders hope to see in the annual letter? More disclosure would help. It’s hard to know exactly how well Precision Castparts and other major Berkshire businesses are doing because the company doesn’t break out their results.There is also the question of succession, with Buffett turning 90 last August. Buffett could give up the CEO job to Berkshire’s vice chairman, Greg Abel, while remaining chairman and continuing to oversee Berkshire’s investment portfolio, including $270 billion of stocks.Berkshire hasn’t named an heir apparent to Buffett, but it’s widely assumed to be Abel, 58, who oversees Berkshire’s vast noninsurance operations, including Burlington Northern.That would give Abel important experience while Buffett is still on the scene, allowing Abel to take new steps, like potentially holding Berkshire’s first investor day.And whether it is Abel or someone else, a dividend would take pressure off Buffett’s successor to reinvest Berkshire’s earnings torrent and align the conglomerate with most other giant companies.","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360890126,"gmtCreate":1613880076765,"gmtModify":1704885639940,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/360890126","repostId":"2112149478","repostType":4,"repost":{"id":"2112149478","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1613724786,"share":"https://ttm.financial/m/news/2112149478?lang=en_US&edition=fundamental","pubTime":"2021-02-19 16:53","market":"other","language":"en","title":"Dollar slips further after disappointing jobs data, sterling shines","url":"https://stock-news.laohu8.com/highlight/detail?id=2112149478","media":"Reuters","summary":"LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after di","content":"<p>LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.</p>\n<p>The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.</p>\n<p>But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.</p>\n<p>On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.</p>\n<p>The string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.</p>\n<p>The euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.</p>\n<p>Despite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.</p>\n<p>ING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"</p>\n<p>They see the greenback index trading down to the 90.10 to 91.05 range&nbsp;Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.</p>\n<p>Given the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.</p>\n<p>The dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.</p>\n<p>Many analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.</p>\n<p>\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.</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>Dollar slips further after disappointing jobs data, sterling shines</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDollar slips further after disappointing jobs data, sterling shines\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-19 16:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.</p>\n<p>The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.</p>\n<p>But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.</p>\n<p>On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.</p>\n<p>The string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.</p>\n<p>The euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.</p>\n<p>Despite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.</p>\n<p>ING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"</p>\n<p>They see the greenback index trading down to the 90.10 to 91.05 range&nbsp;Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.</p>\n<p>Given the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.</p>\n<p>The dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.</p>\n<p>Many analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.</p>\n<p>\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YCS":"日元ETF-ProShares两倍做空","FXE":"欧元做多ETF-CurrencyShares","FXA":"澳元ETF-CurrencyShares","FXC":"加元ETF-CurrencyShares","ANZ.AU":"ANZ GROUP HOLDINGS LTD","FXY":"日元ETF-CurrencyShares","EUO":"欧元ETF-ProShares两倍做空"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2112149478","content_text":"LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.\nThe U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.\nBut an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.\nOn Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.\nThe string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.\nThe euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.\nDespite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.\nING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"\nThey see the greenback index trading down to the 90.10 to 91.05 range Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.\nGiven the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.\nThe dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.\nMany analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.\n\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.","news_type":1,"symbols_score_info":{"EUO":0.9,"YCS":0.9,"MEURmain":0.9,"JPYmain":0.9,"FXC":0.9,"CADmain":0.9,"EURmain":0.9,"ANZ.AU":0.9,"FXA":0.9,"AUDmain":0.9,"FXE":0.9,"FXY":0.9,"MAUDmain":0.9}},"isVote":1,"tweetType":1,"viewCount":931,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":388719412,"gmtCreate":1613095321336,"gmtModify":1704878362407,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/388719412","repostId":"2110204192","repostType":4,"repost":{"id":"2110204192","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":1613018940,"share":"https://ttm.financial/m/news/2110204192?lang=en_US&edition=fundamental","pubTime":"2021-02-11 12:49","market":"us","language":"en","title":"Microsoft tried to buy Pinterest in recent months: report","url":"https://stock-news.laohu8.com/highlight/detail?id=2110204192","media":"Dow Jones","summary":"Deal likely would have been Microsoft's largest-ever acquisition. Microsoft Corp. made overtures to buy Pinterest Inc. in recent months, the Financial Times reported Wednesday night.The acquisition talks are not currently active, the FT reported , adding that in the past Pinterest has signaled its preference to remain an independent company. The FT reported that Microsoft's acquisition strategy is targeting active online communities that it can pair with its cloud platform.Pinterest $$ has a cur","content":"<p>Deal likely would have been Microsoft's largest-ever acquisition</p>\n<p>Microsoft Corp. made overtures to buy Pinterest Inc. in recent months, the Financial Times reported Wednesday night.</p>\n<p>The acquisition talks are not currently active, the FT reported , adding that in the past Pinterest has signaled its preference to remain an independent company. The FT reported that Microsoft's acquisition strategy is targeting active online communities that it can pair with its cloud platform.</p>\n<p>Pinterest <a href=\"https://laohu8.com/S/PINS\">$(PINS)$</a> has a current market valuation of about $50 billion, bolstered by a 36% rise in its shares over the past three months. The online-pinboard platform has boomed during the pandemic, as users have had more time on their hands. Over the past 12 months, Pinterest shares are up 239%.</p>\n<p>Last week, Pinterest reported it added 100 million new users in 2020 , and posted 76% growth in year-over-year quarterly revenue.</p>\n<p>A deal would have likely been Microsoft's largest acquisition ever, about twice as big as its $26 billion purchase of LinkedIn in 2016, but also likely would have drawn scrutiny by antitrust regulators.</p>\n<p>Microsoft shares <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a> are up 9% year to date, and up 31% over the past year, compared to a 6% annual gain by the Dow Jones Industrial Average , of which it is a component.</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>Microsoft tried to buy Pinterest in recent months: report</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\">\nMicrosoft tried to buy Pinterest in recent months: report\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-02-11 12:49</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Deal likely would have been Microsoft's largest-ever acquisition</p>\n<p>Microsoft Corp. made overtures to buy Pinterest Inc. in recent months, the Financial Times reported Wednesday night.</p>\n<p>The acquisition talks are not currently active, the FT reported , adding that in the past Pinterest has signaled its preference to remain an independent company. The FT reported that Microsoft's acquisition strategy is targeting active online communities that it can pair with its cloud platform.</p>\n<p>Pinterest <a href=\"https://laohu8.com/S/PINS\">$(PINS)$</a> has a current market valuation of about $50 billion, bolstered by a 36% rise in its shares over the past three months. The online-pinboard platform has boomed during the pandemic, as users have had more time on their hands. Over the past 12 months, Pinterest shares are up 239%.</p>\n<p>Last week, Pinterest reported it added 100 million new users in 2020 , and posted 76% growth in year-over-year quarterly revenue.</p>\n<p>A deal would have likely been Microsoft's largest acquisition ever, about twice as big as its $26 billion purchase of LinkedIn in 2016, but also likely would have drawn scrutiny by antitrust regulators.</p>\n<p>Microsoft shares <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a> are up 9% year to date, and up 31% over the past year, compared to a 6% annual gain by the Dow Jones Industrial Average , of which it is a component.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03086":"华夏纳指","09086":"华夏纳指-U","PINS":"Pinterest, Inc.","MSFT":"微软"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110204192","content_text":"Deal likely would have been Microsoft's largest-ever acquisition\nMicrosoft Corp. made overtures to buy Pinterest Inc. in recent months, the Financial Times reported Wednesday night.\nThe acquisition talks are not currently active, the FT reported , adding that in the past Pinterest has signaled its preference to remain an independent company. The FT reported that Microsoft's acquisition strategy is targeting active online communities that it can pair with its cloud platform.\nPinterest $(PINS)$ has a current market valuation of about $50 billion, bolstered by a 36% rise in its shares over the past three months. The online-pinboard platform has boomed during the pandemic, as users have had more time on their hands. Over the past 12 months, Pinterest shares are up 239%.\nLast week, Pinterest reported it added 100 million new users in 2020 , and posted 76% growth in year-over-year quarterly revenue.\nA deal would have likely been Microsoft's largest acquisition ever, about twice as big as its $26 billion purchase of LinkedIn in 2016, but also likely would have drawn scrutiny by antitrust regulators.\nMicrosoft shares $(MSFT)$ are up 9% year to date, and up 31% over the past year, compared to a 6% annual gain by the Dow Jones Industrial Average , of which it is a component.","news_type":1,"symbols_score_info":{"03086":0.9,"09086":0.9,"PINS":0.9,"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":489,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3570517865216539","authorId":"3570517865216539","name":"Big__Boss","avatar":"https://static.tigerbbs.com/2c36c2fe68f671064d7d1fd9b7268165","crmLevel":5,"crmLevelSwitch":1,"idStr":"3570517865216539","authorIdStr":"3570517865216539"},"content":"nice! response me thanks","text":"nice! response me thanks","html":"nice! response me thanks"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345113418,"gmtCreate":1618286493534,"gmtModify":1704708618349,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"Crypto is up and coming ???","listText":"Crypto is up and coming ???","text":"Crypto is up and coming ???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/345113418","repostId":"1154178432","repostType":4,"repost":{"id":"1154178432","kind":"news","pubTimestamp":1618285972,"share":"https://ttm.financial/m/news/1154178432?lang=en_US&edition=fundamental","pubTime":"2021-04-13 11:52","market":"us","language":"en","title":"The mathematical improbability of Coinbase justifying a $100 billion valuation","url":"https://stock-news.laohu8.com/highlight/detail?id=1154178432","media":"Fortune","summary":"Nothing better epitomizes the zaniness ruling financial markets these days than the great expectatio","content":"<p>Nothing better epitomizes the zaniness ruling financial markets these days than the&nbsp;great expectations&nbsp;surrounding the Coinbase IPO slated for April 14. The euphoria over the&nbsp;first major cryptocurrency player to go public&nbsp;is of a piece with the damn-the-fundamentals craze that's spawned the&nbsp;Tesla&nbsp;phenomenon and pushed U.S. equities to near-bubble territory. Wall Street analysts and Bitcoin-loving investors are forecasting that Coinbase could debut at a $100 billion valuation.</p><p>To justify that number, the math shows, Coinbase would need to mushroom into the biggest financial exchange in the world. \"It's part of the overall frenzy creating bubbles everywhere,\" says David Trainer, an analyst at research firm New Constructs. \"When you do the numbers, there's no way to make an argument for owning this stock with a straight face.\"</p><p>Trainer just released an&nbsp;excellent analysis of Coinbase's prospects. It shows how new competition will hammer today's fat margins and argues that the crypto market won't be nearly as gigantic as Coinbase anticipates—all told making for a franchise worth a fraction of what its fans will be paying on opening day.</p><p><b>The flush times won’t last</b></p><p>Coinbase turned strongly profitable last year, more than doubling revenues from $483 million to $1.14 billion and lifting operating profits from a $45 million deficit to $409 million. Its registration statement discloses that Coinbase generated 87% of those revenues from trading and selling Bitcoin, Ethereum, and almost 50 other coins for both retail and institutional customers. Surprisingly, money managers and corporations now account for over half of its trades, bolstering its pitch that crypto is going mainstream in a big way. Its 35% operating return on sales equaled the 2020 margin posted by Goldman Sachs’s Global Markets franchise in one of its best years ever.</p><p>But what's really ignited Coinbase fever is the astounding results for its March quarter, released on April 6. Its Q1 revenues soared 11-fold to $1.8 billion, 58% more than it collected in<i>all of</i>2020, and operating income rose to over $1 billion, doubling the figure for last year. Its operating margin of around 55% far exceeds what the trading arms of the Wall Street banks pocketed in a banner 2020.</p><p>But here's the real head-spinner: Coinbase generated 0.46% on each dollar it traded in cryptocurrencies, or almost $300 for every Bitcoin it bought and sold for customers. It's the impossibility of maintaining anything like those superrich, virtually never-before-seen trading margins that underscores how Coinbase's likely valuation will be wildly out of whack with its actual prospects.</p><p><b>Enter the competition</b></p><p>In its S-1, Coinbase details that it charges customers a flat fee, reportedly around 0.5% on the dollar value of a Bitcoin or Ethereum trade. That charge can be lower or higher depending on the volumes—the more business a customer trades, the lower the percentage—or the regions where the client operates. It also collects much smaller amounts from the spread between the \"ask\" at which it buys for customers, and the \"bid\" at which it sells. How does the Q1 average fee of 0.46% compare with the figures for the two largest owners of securities exchanges in America, Intercontinental Exchange (ICE), and&nbsp;Nasdaq&nbsp;Inc.?</p><p>In 2020, ICE and Nasdaq each made an average of 0.01% on each dollar of securities' trades. Hence, Coinbase reaped about 50 times the margins of those longstanding, gargantuan marketplaces. It generated the equivalent of three-quarters of Nasdaq's trading revenues—$1.5 billion versus $2.0 billion—on 2% of the volumes.</p><p>It can't last, says Trainer. He predicts that fees for trading cryptocurrencies will follow a similar downward trajectory as those in stocks, possibly all the way to zero. Coinbase's slice of each transaction is so big, and its profits so gigantic, that rivals can slash what they're charging and still mint huge profits. \"Competitors such as Gemini, Bitstamp, Kraken, Binance, and others will likely lower or zero trading fees to take market share,\" he says. \"If margins are that good, you invite competition.\" That will start a \"race to the bottom\" similar to the contest for market share that triggered the collapse, then virtual elimination, of stock commissions in 2019. Trainer also expects traditional brokerages to soon offer trading in cryptocurrencies, further pressuring Coinbase's rich fees.</p><p><b>How fast must Coinbase grow to be worth $100 billion?</b></p><p>Trainer ran the numbers. For Coinbase to reach $100 billion market cap by 2027, its revenues would need to jump 50% a year to $21.3 billion, while free cash flow keeps pace, waxing to $3.2 billion, more than 10 times the figure for last year. It would still be selling at a rich multiple of 30 times cash flow. At $20-billion-plus, Coinbase would exceed the combined 2020 revenues of ICE and Nasdaq by 50%.</p><p>Put simply, to reach the size worthy of a $100 billion market cap—and that's starting today—Coinbase would probably need to become the biggest exchange in the world. That's the bet investors are making if they buy its shares at the April 14 offering and beyond.</p><p><b>Can Coinbase get there?</b></p><p>For Trainer, grabbing the trophy looks like a mathematical impossibility. If Coinbase's operating margins decline to the average level of 23% for the 18 largest investment banks—still a big number—and its revenues grow at a strong 21%, the rate that Nasdaq achieved in its rapid growth phase, it will be worth $18.9 billion, or over 80% less than the $100 billion it could command next week.</p><p>Another distressing metric: Say Bitcoin's trading margin declines from 0.46% to 0.10%. That's still 10 times what ICE and Nasdaq are generating. To reach the $21.3 billion in revenue that rings the bell, by<i>Fortune’</i>s estimates, Coinbase would need to trade $17 trillion a year in Bitcoin and other tokens. That's<i>four times</i>the total volumes for all cryptocurrencies, on every exchange, for 2020.</p><p>For Coinbase CEO Brian Armstrong, a future in which such epic numbers are achieved looks anything but impossible. The S-1 states that \"crypto has the potential to be as revolutionary and widely adopted as the Internet.\" He's selling a growth story for an investment that's still far from mainstream. For Trainer, Coinbase is the epitome of a \"meme stock that's traded without regard for the fundamentals.\" The vision is compelling as long as it remains lofty and doesn't get too specific about the heroics needed to be worth $100 billion. Investors should keep in mind that they'll be paying a stratospheric price for backing a daring expedition that's unlikely to reach the mountaintop.</p>","source":"lsy1618285953446","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 mathematical improbability of Coinbase justifying a $100 billion valuation</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 mathematical improbability of Coinbase justifying a $100 billion valuation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-13 11:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://fortune.com/2021/04/12/coinbase-ipo-valuation-100-billion-justification-crypto/><strong>Fortune</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nothing better epitomizes the zaniness ruling financial markets these days than the great expectations surrounding the Coinbase IPO slated for April 14. The euphoria over the first major ...</p>\n\n<a href=\"https://fortune.com/2021/04/12/coinbase-ipo-valuation-100-billion-justification-crypto/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://fortune.com/2021/04/12/coinbase-ipo-valuation-100-billion-justification-crypto/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154178432","content_text":"Nothing better epitomizes the zaniness ruling financial markets these days than the great expectations surrounding the Coinbase IPO slated for April 14. The euphoria over the first major cryptocurrency player to go public is of a piece with the damn-the-fundamentals craze that's spawned the Tesla phenomenon and pushed U.S. equities to near-bubble territory. Wall Street analysts and Bitcoin-loving investors are forecasting that Coinbase could debut at a $100 billion valuation.To justify that number, the math shows, Coinbase would need to mushroom into the biggest financial exchange in the world. \"It's part of the overall frenzy creating bubbles everywhere,\" says David Trainer, an analyst at research firm New Constructs. \"When you do the numbers, there's no way to make an argument for owning this stock with a straight face.\"Trainer just released an excellent analysis of Coinbase's prospects. It shows how new competition will hammer today's fat margins and argues that the crypto market won't be nearly as gigantic as Coinbase anticipates—all told making for a franchise worth a fraction of what its fans will be paying on opening day.The flush times won’t lastCoinbase turned strongly profitable last year, more than doubling revenues from $483 million to $1.14 billion and lifting operating profits from a $45 million deficit to $409 million. Its registration statement discloses that Coinbase generated 87% of those revenues from trading and selling Bitcoin, Ethereum, and almost 50 other coins for both retail and institutional customers. Surprisingly, money managers and corporations now account for over half of its trades, bolstering its pitch that crypto is going mainstream in a big way. Its 35% operating return on sales equaled the 2020 margin posted by Goldman Sachs’s Global Markets franchise in one of its best years ever.But what's really ignited Coinbase fever is the astounding results for its March quarter, released on April 6. Its Q1 revenues soared 11-fold to $1.8 billion, 58% more than it collected inall of2020, and operating income rose to over $1 billion, doubling the figure for last year. Its operating margin of around 55% far exceeds what the trading arms of the Wall Street banks pocketed in a banner 2020.But here's the real head-spinner: Coinbase generated 0.46% on each dollar it traded in cryptocurrencies, or almost $300 for every Bitcoin it bought and sold for customers. It's the impossibility of maintaining anything like those superrich, virtually never-before-seen trading margins that underscores how Coinbase's likely valuation will be wildly out of whack with its actual prospects.Enter the competitionIn its S-1, Coinbase details that it charges customers a flat fee, reportedly around 0.5% on the dollar value of a Bitcoin or Ethereum trade. That charge can be lower or higher depending on the volumes—the more business a customer trades, the lower the percentage—or the regions where the client operates. It also collects much smaller amounts from the spread between the \"ask\" at which it buys for customers, and the \"bid\" at which it sells. How does the Q1 average fee of 0.46% compare with the figures for the two largest owners of securities exchanges in America, Intercontinental Exchange (ICE), and Nasdaq Inc.?In 2020, ICE and Nasdaq each made an average of 0.01% on each dollar of securities' trades. Hence, Coinbase reaped about 50 times the margins of those longstanding, gargantuan marketplaces. It generated the equivalent of three-quarters of Nasdaq's trading revenues—$1.5 billion versus $2.0 billion—on 2% of the volumes.It can't last, says Trainer. He predicts that fees for trading cryptocurrencies will follow a similar downward trajectory as those in stocks, possibly all the way to zero. Coinbase's slice of each transaction is so big, and its profits so gigantic, that rivals can slash what they're charging and still mint huge profits. \"Competitors such as Gemini, Bitstamp, Kraken, Binance, and others will likely lower or zero trading fees to take market share,\" he says. \"If margins are that good, you invite competition.\" That will start a \"race to the bottom\" similar to the contest for market share that triggered the collapse, then virtual elimination, of stock commissions in 2019. Trainer also expects traditional brokerages to soon offer trading in cryptocurrencies, further pressuring Coinbase's rich fees.How fast must Coinbase grow to be worth $100 billion?Trainer ran the numbers. For Coinbase to reach $100 billion market cap by 2027, its revenues would need to jump 50% a year to $21.3 billion, while free cash flow keeps pace, waxing to $3.2 billion, more than 10 times the figure for last year. It would still be selling at a rich multiple of 30 times cash flow. At $20-billion-plus, Coinbase would exceed the combined 2020 revenues of ICE and Nasdaq by 50%.Put simply, to reach the size worthy of a $100 billion market cap—and that's starting today—Coinbase would probably need to become the biggest exchange in the world. That's the bet investors are making if they buy its shares at the April 14 offering and beyond.Can Coinbase get there?For Trainer, grabbing the trophy looks like a mathematical impossibility. If Coinbase's operating margins decline to the average level of 23% for the 18 largest investment banks—still a big number—and its revenues grow at a strong 21%, the rate that Nasdaq achieved in its rapid growth phase, it will be worth $18.9 billion, or over 80% less than the $100 billion it could command next week.Another distressing metric: Say Bitcoin's trading margin declines from 0.46% to 0.10%. That's still 10 times what ICE and Nasdaq are generating. To reach the $21.3 billion in revenue that rings the bell, byFortune’s estimates, Coinbase would need to trade $17 trillion a year in Bitcoin and other tokens. That'sfour timesthe total volumes for all cryptocurrencies, on every exchange, for 2020.For Coinbase CEO Brian Armstrong, a future in which such epic numbers are achieved looks anything but impossible. The S-1 states that \"crypto has the potential to be as revolutionary and widely adopted as the Internet.\" He's selling a growth story for an investment that's still far from mainstream. For Trainer, Coinbase is the epitome of a \"meme stock that's traded without regard for the fundamentals.\" The vision is compelling as long as it remains lofty and doesn't get too specific about the heroics needed to be worth $100 billion. Investors should keep in mind that they'll be paying a stratospheric price for backing a daring expedition that's unlikely to reach the mountaintop.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":2647,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368466805,"gmtCreate":1614348779107,"gmtModify":1704771011115,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"Good luck all","listText":"Good luck all","text":"Good luck all","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/368466805","isVote":1,"tweetType":1,"viewCount":2223,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":384374625,"gmtCreate":1613620858067,"gmtModify":1704882809982,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"Hi, posting to get coins","listText":"Hi, posting to get coins","text":"Hi, posting to get coins","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/384374625","isVote":1,"tweetType":1,"viewCount":499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188625697,"gmtCreate":1623434263519,"gmtModify":1704203727157,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/188625697","repostId":"2142270837","repostType":4,"isVote":1,"tweetType":1,"viewCount":2789,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345898215,"gmtCreate":1618296538537,"gmtModify":1704708732736,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"gut","listText":"gut","text":"gut","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/345898215","repostId":"1146450605","repostType":4,"isVote":1,"tweetType":1,"viewCount":1914,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360890451,"gmtCreate":1613880135773,"gmtModify":1704885640797,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"Test post for free coins","listText":"Test post for free coins","text":"Test post for free coins","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/360890451","isVote":1,"tweetType":1,"viewCount":619,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385291159,"gmtCreate":1613552620871,"gmtModify":1704881910207,"author":{"id":"3571961662143942","authorId":"3571961662143942","name":"Zacchaeus","avatar":"https://static.tigerbbs.com/a3d003759145d432b6a0393561eaccbd","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3571961662143942","authorIdStr":"3571961662143942"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/385291159","repostId":"1120526689","repostType":4,"repost":{"id":"1120526689","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1613542946,"share":"https://ttm.financial/m/news/1120526689?lang=en_US&edition=fundamental","pubTime":"2021-02-17 14:22","market":"uk","language":"en","title":"Europe braces for pandemic reality to hit banks","url":"https://stock-news.laohu8.com/highlight/detail?id=1120526689","media":"Reuters","summary":"Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-star","content":"<p>Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-started a debate among politicians about whether they may ultimately need state help.</p>\n<p>Reflecting on the pandemic impact, many bank executives say the worst is behind them, with Societe Generale CEO Frederic Oudea and BNP Paribas CEO Jean-Laurent Bonnafe predicting an imminent rebound.</p>\n<p>“Optimism is ... a weapon of war,” Philippe Brassac, chief executive of Credit Agricole said in January, decrying “doom-mongers”. “And this war, we can win.”</p>\n<p>All three French lenders saw profits shrink last year and profits at Spain’s Santander and Dutch bank ING also dipped.</p>\n<p>While executives voice confidence, European officials worry the banks’ problems have barely begun.</p>\n<p>They fear more borrowers will default when government support, including billions of euros of loan guarantees in France, Spain and elsewhere, is unwound.</p>\n<p>Officials spelt out their concerns in a report presented to euro zone finance ministers who met on Monday, warning of “wide-scale corporate distress”.</p>\n<p>In the document, they highlighted the extent to which banks rely on governments to help borrowers.</p>\n<p>Were it not for government support, they estimated roughly a quarter of EU firms could have been in trouble at the end of last year and cautioned that banks’ provisions for such losses did not reflect the “underlying deterioration”.</p>\n<p>Roughly 587 billion euros ($712 billion) of loans were under moratoria and 289 billion euros of credit had been given on the back of public guarantees, they said, from a tally late last year.</p>\n<p>“We have to avoid a sharp rise in insolvencies,” Paolo Gentiloni, the European Union’s economy commissioner, told journalists after the ministers’ gathering.</p>\n<p>The same unease is felt at the European Central Bank, which supervises lenders.</p>\n<p>In January, it said banks were setting aside less for bad loans than rivals in the United States and it suspected some were not taking sufficient measures, skewing the calculation of risk to convey brighter prospects for the future.</p>\n<p>Both continents have unleashed billions to stem the economic fallout from the pandemic, although in Europe, a patchwork of independent states, the type of assistance, whether grant or guarantee, depends on which country is giving it.</p>\n<p>France, Italy and Spain have issued billions of guarantees on loans, while Germany made generous grants.</p>\n<p>Jerome Legras of Axiom Alternative Investments said the upbeat message of bankers jarred with that of regulators: “The message from the supervisor is almost the exact opposite.”</p>\n<p>The rosy picture painted by some executives is also at odds with data collected by the European Datawarehouse, which has analysed half a trillion euros of European mortgage loans.</p>\n<p>Its survey last December calculated that one fifth of loans in the United Kingdom had required a payment break, followed closely by Portugal as well as Italy, with more than 12%, and Ireland with around 10%.</p>\n<p>One euro zone official, speaking on condition of anonymity, said that while banks were largely robust, “some ... may run into problems or have to be wound up”.</p>\n<p>Despite the concern of European officials, deep divisions remain over how to respond.</p>\n<p>Although the 19-country euro zone bloc agreed to put the central bank in charge of supervising lenders after the financial crash more than a decade ago, they remain at odds on what to do if lenders run into trouble.</p>\n<p>Wealthy countries, such as Germany, are reluctant to help poorer ones, such as Italy or Greece, by establishing a joint rescue net.</p>\n<p>Klaus Regling, head of the European Stability Mechanism, told journalists on Monday that the ESM fund, set up during the great financial crash to help countries in trouble, could be used in winding up banks from next year.</p>\n<p>“We have created a strong second line of defence,” he said, pointing to the knock-on impact of rising insolvencies on banks and governments.</p>\n<p>Deciding on joint action such as resorting to the ESM, however, is highly political. Efforts by the European Central Bank, for example, to set up a pan-euro-zone bad bank to help lenders warehouse and sell off troubled loans have made scant progress.</p>\n<p>In the meantime, many bankers hope for the best.</p>\n<p>“There will be light at the end of the tunnel,” said Steven van Rijswijk, CEO of ING. “Where the tunnel ends we do not know.”</p>\n<p>($1 = 0.8226 euros)</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>Europe braces for pandemic reality to hit banks</title>\n<style 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}\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\">\nEurope braces for pandemic reality to hit banks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-17 14:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-started a debate among politicians about whether they may ultimately need state help.</p>\n<p>Reflecting on the pandemic impact, many bank executives say the worst is behind them, with Societe Generale CEO Frederic Oudea and BNP Paribas CEO Jean-Laurent Bonnafe predicting an imminent rebound.</p>\n<p>“Optimism is ... a weapon of war,” Philippe Brassac, chief executive of Credit Agricole said in January, decrying “doom-mongers”. “And this war, we can win.”</p>\n<p>All three French lenders saw profits shrink last year and profits at Spain’s Santander and Dutch bank ING also dipped.</p>\n<p>While executives voice confidence, European officials worry the banks’ problems have barely begun.</p>\n<p>They fear more borrowers will default when government support, including billions of euros of loan guarantees in France, Spain and elsewhere, is unwound.</p>\n<p>Officials spelt out their concerns in a report presented to euro zone finance ministers who met on Monday, warning of “wide-scale corporate distress”.</p>\n<p>In the document, they highlighted the extent to which banks rely on governments to help borrowers.</p>\n<p>Were it not for government support, they estimated roughly a quarter of EU firms could have been in trouble at the end of last year and cautioned that banks’ provisions for such losses did not reflect the “underlying deterioration”.</p>\n<p>Roughly 587 billion euros ($712 billion) of loans were under moratoria and 289 billion euros of credit had been given on the back of public guarantees, they said, from a tally late last year.</p>\n<p>“We have to avoid a sharp rise in insolvencies,” Paolo Gentiloni, the European Union’s economy commissioner, told journalists after the ministers’ gathering.</p>\n<p>The same unease is felt at the European Central Bank, which supervises lenders.</p>\n<p>In January, it said banks were setting aside less for bad loans than rivals in the United States and it suspected some were not taking sufficient measures, skewing the calculation of risk to convey brighter prospects for the future.</p>\n<p>Both continents have unleashed billions to stem the economic fallout from the pandemic, although in Europe, a patchwork of independent states, the type of assistance, whether grant or guarantee, depends on which country is giving it.</p>\n<p>France, Italy and Spain have issued billions of guarantees on loans, while Germany made generous grants.</p>\n<p>Jerome Legras of Axiom Alternative Investments said the upbeat message of bankers jarred with that of regulators: “The message from the supervisor is almost the exact opposite.”</p>\n<p>The rosy picture painted by some executives is also at odds with data collected by the European Datawarehouse, which has analysed half a trillion euros of European mortgage loans.</p>\n<p>Its survey last December calculated that one fifth of loans in the United Kingdom had required a payment break, followed closely by Portugal as well as Italy, with more than 12%, and Ireland with around 10%.</p>\n<p>One euro zone official, speaking on condition of anonymity, said that while banks were largely robust, “some ... may run into problems or have to be wound up”.</p>\n<p>Despite the concern of European officials, deep divisions remain over how to respond.</p>\n<p>Although the 19-country euro zone bloc agreed to put the central bank in charge of supervising lenders after the financial crash more than a decade ago, they remain at odds on what to do if lenders run into trouble.</p>\n<p>Wealthy countries, such as Germany, are reluctant to help poorer ones, such as Italy or Greece, by establishing a joint rescue net.</p>\n<p>Klaus Regling, head of the European Stability Mechanism, told journalists on Monday that the ESM fund, set up during the great financial crash to help countries in trouble, could be used in winding up banks from next year.</p>\n<p>“We have created a strong second line of defence,” he said, pointing to the knock-on impact of rising insolvencies on banks and governments.</p>\n<p>Deciding on joint action such as resorting to the ESM, however, is highly political. Efforts by the European Central Bank, for example, to set up a pan-euro-zone bad bank to help lenders warehouse and sell off troubled loans have made scant progress.</p>\n<p>In the meantime, many bankers hope for the best.</p>\n<p>“There will be light at the end of the tunnel,” said Steven van Rijswijk, CEO of ING. “Where the tunnel ends we do not know.”</p>\n<p>($1 = 0.8226 euros)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DB":"德意志银行","0H7D.UK":"德意志银行","0J6Y.UK":"法国兴业银行","0HB5.UK":"法国巴黎银行"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120526689","content_text":"Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-started a debate among politicians about whether they may ultimately need state help.\nReflecting on the pandemic impact, many bank executives say the worst is behind them, with Societe Generale CEO Frederic Oudea and BNP Paribas CEO Jean-Laurent Bonnafe predicting an imminent rebound.\n“Optimism is ... a weapon of war,” Philippe Brassac, chief executive of Credit Agricole said in January, decrying “doom-mongers”. “And this war, we can win.”\nAll three French lenders saw profits shrink last year and profits at Spain’s Santander and Dutch bank ING also dipped.\nWhile executives voice confidence, European officials worry the banks’ problems have barely begun.\nThey fear more borrowers will default when government support, including billions of euros of loan guarantees in France, Spain and elsewhere, is unwound.\nOfficials spelt out their concerns in a report presented to euro zone finance ministers who met on Monday, warning of “wide-scale corporate distress”.\nIn the document, they highlighted the extent to which banks rely on governments to help borrowers.\nWere it not for government support, they estimated roughly a quarter of EU firms could have been in trouble at the end of last year and cautioned that banks’ provisions for such losses did not reflect the “underlying deterioration”.\nRoughly 587 billion euros ($712 billion) of loans were under moratoria and 289 billion euros of credit had been given on the back of public guarantees, they said, from a tally late last year.\n“We have to avoid a sharp rise in insolvencies,” Paolo Gentiloni, the European Union’s economy commissioner, told journalists after the ministers’ gathering.\nThe same unease is felt at the European Central Bank, which supervises lenders.\nIn January, it said banks were setting aside less for bad loans than rivals in the United States and it suspected some were not taking sufficient measures, skewing the calculation of risk to convey brighter prospects for the future.\nBoth continents have unleashed billions to stem the economic fallout from the pandemic, although in Europe, a patchwork of independent states, the type of assistance, whether grant or guarantee, depends on which country is giving it.\nFrance, Italy and Spain have issued billions of guarantees on loans, while Germany made generous grants.\nJerome Legras of Axiom Alternative Investments said the upbeat message of bankers jarred with that of regulators: “The message from the supervisor is almost the exact opposite.”\nThe rosy picture painted by some executives is also at odds with data collected by the European Datawarehouse, which has analysed half a trillion euros of European mortgage loans.\nIts survey last December calculated that one fifth of loans in the United Kingdom had required a payment break, followed closely by Portugal as well as Italy, with more than 12%, and Ireland with around 10%.\nOne euro zone official, speaking on condition of anonymity, said that while banks were largely robust, “some ... may run into problems or have to be wound up”.\nDespite the concern of European officials, deep divisions remain over how to respond.\nAlthough the 19-country euro zone bloc agreed to put the central bank in charge of supervising lenders after the financial crash more than a decade ago, they remain at odds on what to do if lenders run into trouble.\nWealthy countries, such as Germany, are reluctant to help poorer ones, such as Italy or Greece, by establishing a joint rescue net.\nKlaus Regling, head of the European Stability Mechanism, told journalists on Monday that the ESM fund, set up during the great financial crash to help countries in trouble, could be used in winding up banks from next year.\n“We have created a strong second line of defence,” he said, pointing to the knock-on impact of rising insolvencies on banks and governments.\nDeciding on joint action such as resorting to the ESM, however, is highly political. Efforts by the European Central Bank, for example, to set up a pan-euro-zone bad bank to help lenders warehouse and sell off troubled loans have made scant progress.\nIn the meantime, many bankers hope for the best.\n“There will be light at the end of the tunnel,” said Steven van Rijswijk, CEO of ING. “Where the tunnel ends we do not know.”\n($1 = 0.8226 euros)","news_type":1,"symbols_score_info":{"DB":0.9,"0HB5.UK":0.9,"0J6Y.UK":0.9,"0H7D.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":826,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}