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Jwl

Jwl

Nibble is hungry

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2021-06-24

High risk high returns

Move Over AMC, Make Way for This New Wave of 7 Favorite Meme Stocks

2021-06-24

Byd all the way

Warren Buffett Has Gained More Than 1,000% in These 6 Stocks

2021-06-23

Cyclical

EV stocks fell in morning trading. Chinese EV Stocks Fully Priced Following Recent Rally, Planned Rate Hikes

2021-06-22

Onwards

2021-06-21

Watch this space?

2021-06-17

With such shareholder valuation, won’t it give themgmt more war chest to pursue greater initiatives?

1 Stock to Avoid No Matter What

2021-05-03

It can only go uppp

Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week

2021-04-30

One step at a time

2021-04-25

Exciting week as always- Please like!

What to watch in the markets this week

2021-04-23

This made it to tiger !

Singapore Names Wong as New Finance Minister in Cabinet Shake-Up

2021-04-09

Watch inflation

"Boom Or Bust For The Economy & Markets" - JPM Previews The Next 100 Days For Biden

2021-04-08

Good stuff

NIO and Other Chinese EV Stocks Are Getting Crushed. Tesla’s Not Doing So Hot Either.

2021-04-07

Please like !

Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab

2021-04-06

Please like

FOMC meeting minutes, Powell speaks: What to know this week

2021-04-06

Every month we hear something like this

Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time

2021-04-05

Like please

How Likely Is a Stock Market Crash?

2021-04-01

Like and share

NIO Inc. Provides March and First Quarter 2021 Delivery Update

2021-03-31

New rotation

Goldman Sachs is close to offering bitcoin and other digital assets to its wealth management clients

2021-03-30

BP - we will never know the works behind this, could be a close door manipulation / big contraction on oil demand

Big Oil’s Secret World of Trading

2021-03-30

Danger

Credit Suisse is said to have lost $3B-$4B on Archegos selloff, FT says

Go to Tiger App to see more news

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risk high returns","listText":"High risk high returns","text":"High risk high returns","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/128723431","repostId":"1112175042","repostType":4,"repost":{"id":"1112175042","pubTimestamp":1624526935,"share":"https://ttm.financial/m/news/1112175042?lang=&edition=fundamental","pubTime":"2021-06-24 17:28","market":"us","language":"en","title":"Move Over AMC, Make Way for This New Wave of 7 Favorite Meme Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1112175042","media":"InvestorPlace","summary":"Here are seven shares that could move to meme stock status soon.\n\nMeme stocks are among the hottest ","content":"<blockquote>\n <b>Here are seven shares that could move to meme stock status soon.</b>\n</blockquote>\n<p>Meme stocks are among the hottest topics on Wall Street. As a result, such shares have seen a significant surge in trading activity, often fueled by social media platforms like<b>Reddit</b>&nbsp;and<b>Twitter</b>&nbsp;(NYSE:<b>TWTR</b>). And because the prices of meme stocks tend to skyrocket in a matter of sessions, the mouthwatering returns seem to attract more and more risk takers by the day.</p>\n<p>For instance,<b>AMC Entertainment Holdings</b>(NYSE:<b><u>AMC</u></b>) boasts a year-to-date (YTD) gain of about 2,650%, soaring as much as 561% in January alone. Therefore, today’s article discusses seven stocks thatmay gain traction on social mediasoon and become meme stocks as well.</p>\n<p>Right now, retail investors seem eager toboost their favorite meme stocksafter realizing the magnitude of their collective power. They usually target stocks with significant short interest to squeeze institutional investors into covering their short positions.</p>\n<p>According to<b>S3 Partners</b>data, investors searching for meme stock candidates may find over 2,000 firms with a market cap of at least $100 million and short interest of 15% or more. Therefore, we could be looking at a retail investor crusade with considerable impact on the stock market.</p>\n<p>While these rallies can generate lucrative returns in a short period, most meme stocks are highly volatile. They are valued for their social media popularity rather than their financial performance. Therefore, investors should exercise caution as such shares would not be suitable for all portfolios.</p>\n<p>With that information, we have identified seven firms poised to build up meme stock status in the near term:</p>\n<ul>\n <li><b>Arrival</b>(NASDAQ:<b>ARVL</b>)</li>\n <li><b>Clean Energy Fuels</b>&nbsp;(NASDAQ:<b>CLNE</b>)</li>\n <li><b>Koss</b>(NASDAQ:<b><u>KOSS</u></b>)</li>\n <li><b>Pitney Bowes</b>&nbsp;(NYSE:<b>PBI</b>)</li>\n <li><b>Rocket Companies</b>&nbsp;(NYSE:<b>RKT</b>)</li>\n <li><b>UWM Holdings</b>&nbsp;(NYSE:<b>UWMC</b>)</li>\n <li><b>Zynga</b>&nbsp;(NASDAQ:<b><u>ZNGA</u></b>)</li>\n</ul>\n<p><b>Meme Stocks to Watch:Arrival (ARVL)</b><img src=\"https://static.tigerbbs.com/f52a9acd3d239abec555a714ef2e0170\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: Shutterstock</p>\n<p><b>52-week range:</b>$9.80 – $37.18</p>\n<p>British electric vehicle (EV) manufacturerArrivalwent public in March after merging with with CIIG Merger Corp, a special purpose acquisition company (SPAC). Arrival is a pre-revenue business focusing on the production of commercial electric vehicle vans and buses.</p>\n<p>The group claims to be reinventing the automotive industry with its unique approach to building micro-factories near potential customers in metro areas. For instance, the first U.S. micro-factory, in York County, South Carolina, is scheduled to produce electric buses from the fourth quarter of 2021. “The talk is of 1,000 battery buses per year,”&nbsp;<i>Electrive.com</i>reported.</p>\n<p>Arrival announcedQ1 financial resultson May 13. Adjusted EBITDA loss was 27 million EUR ($32.3 million) compared to 14 million EUR in the prior-year period. Adjusted loss per share was 16 cents EUR. Cash and equivalents ended the first quarter at 516 million EUR.</p>\n<p>The current capital expenditure projection stands at $50 million. Management noted the second U.S. micro-factory will be built in Charlotte, North Carolina and the first European van micro-factory will be located in Spain.</p>\n<p>“We are fully focused on executing our business plan to bring our microfactories to multiple cities and markets to serve their communities and accelerate the transition to zero-emission transportation. We continue to expect to have four vehicles — the bus, van, large van, and car — on the market by the end of 2023,” said CEO Denis Sverdlov in theearnings update.</p>\n<p>The EV group plans to start production of the “Arrival Bus” by Q4. Public road trials of its bus are expected to begin this fall with<b>First Bus</b>, one of the U.K.’s largest transport operators.</p>\n<p>Meme stock communitiesnoticed that about 7% of Arrival’s public share float was sold short, as of May 28. ARVL stock jumped more than 15% in mid-June due to the social media frenzy by Reddit users. The share price currently hovers around $18, down 36% YTD.</p>\n<p><b>Clean Energy Fuels (CLNE)</b><img src=\"https://static.tigerbbs.com/d0b07c87f30d7554c902c122359e6802\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: ZikG / Shutterstock.com</p>\n<p><b>52-week range:</b>$2.01 – $19.79</p>\n<p>Newport Beach, California-based Clean Energy Fuels is natural gas marketer and retailer in the U.S. and Canada. The company delivers renewable natural gas (RNG) via liquefied natural gas (LNG) and compressed natural gas (CNG) to its network of fueling stations. In addition, it builds LNG and CNG fueling stations for the transportation market, operating a network of 570 stations in both countries.</p>\n<p>The company announcedQ1&nbsp;resultsin early May. Total revenue fell 10.3% year-over-year (YoY) to $77.1 million. Net loss was $7.2 million in the first quarter. Non-GAAP loss per share remained flat YoY at 1 cent. Cash and equivalents stood at $117 million at the end of the quarter.</p>\n<p>CEO Andrew J. Littlefair expressed his satisfaction with the results despite the ongoing effects of the pandemic. Clean Energy Fuels seems well aligned with the Biden administration’s plans to reduce the country’s carbon emissions over the next decade. In addition, CLNE signed a five-year agreement with<b>Amazon</b>&nbsp;(NASDAQ:AMZN) to provide RNG at 27 of its existing fueling stations and another 19 in the near future.</p>\n<p>The stock soared by more than 30% onJune 8 as a new meme stock candidatebefore plunging 15% on the next day. CLNE stock currently trades at $11.80 territory, up almost 50% YTD. On a a price-to-sales (P/S) basis, shares currently trade at 8.29x.</p>\n<p><b>Koss (KOSS)</b><img src=\"https://static.tigerbbs.com/e25898dc300636bdc7e126636b69b71c\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: SiljeAO / Shutterstock.com</p>\n<p><b>52-week range:</b>$1.32 – $127.45</p>\n<p>Milwaukee, Wisconsin-based Koss manufactures and sells stereo headphones, wireless Bluetooth speakers, telecommunications headsets, and related accessories. Its history goes back to the 1950’s.</p>\n<p>In mid-May, the company releasedQ3metrics for the quarter ended March 31. Revenue was $4 million, a 17% decrease from the prior-year period. Net loss increased to $474,168 compared to $97,373 last year. Diluted loss per share was 6 cents compared to 1 cent a year ago.</p>\n<p>“The business has shifted away from a concentration in mass market retailers to more consumer direct, specialty and distributor based channels. The net decline in the quarter’s sales revenue can largely be attributed to the sporadic service disruptions of freight carriers.” remarked CEO Michael J. Koss.</p>\n<p>KOSS stock started 2021 with a 480% surge on January 27 before plunging back over the next three days.The meme stock jumped againon June 2 by almost 70% before entering a corrective decline. The shares currently hover around $23, up more than 550% YTD, and trade at 11.81 times sales.</p>\n<p><b>Pitney Bowes (PBI)</b><img src=\"https://static.tigerbbs.com/da269c5f1b56d3bf0996c5ced5e86acf\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: Shutterstock</p>\n<p><b>52-week range:</b>$16.22 – $41.10</p>\n<p>Stamford, Connecticut-based Pitney Bowes offers mailing and commerce solutions that also include cross-border e-commerce logistics as well as analytics. Clients worldwide include 90% of the Fortune 500 businesses.</p>\n<p>Pitney Bowes announced&nbsp;Q1 resultsin early May. Revenue of $915 million represented a 15% YoY growth. However, the bottom line remained in the red. Net loss was $31.6 million. Adjusted earnings per share (EPS) was 7 cents, up from 5 cents in the prior-year quarter. Cash and equivalents came at $681 million.</p>\n<p>CEO Marc B. Lautenbach remarked, “Revenue continued to demonstrate strong growth, every business improved its EBIT performance from the prior year, and we strengthened our balance sheet.”</p>\n<p>PBI stock soared 51% in January, as the company found itself caught up in the short squeeze craze. However, the stock later plunged in early February despite having just announced surprisingly strong sales results. PBI stock currently hovers slightly above $8, up almost 32% YTD.</p>\n<p>Pitney Bowes expects annual revenue to grow in the low-to-mid single-digit range during 2021. Its forward P/E and current P/S ratios stand at 23.15 and 0.38, respectively.</p>\n<p><b>Rocket Companies (RKT)</b><img src=\"https://static.tigerbbs.com/eff519cd6be619f516f01777d706a90c\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: Lori Butcher / Shutterstock.com</p>\n<p><b>52-week range:</b>$16.22 – $41.10</p>\n<p>Detroit, Michigan-based Rocket is the parent company ofRocket Mortgage, formerly known as Quicken Loans. The financial services group consists of tech-driven real estate, mortgage, and e-commerce businesses. In addition to Rocket Mortgage, the largest mortgage lender stateside, the company has expanded to complementary industries, such as real estate services, auto sales and personal lending. The company went public in August 2020.</p>\n<p>In mid-May, Rocket released itsQ1 2021 figures. Top line for the first quarter was $4.6 billion indicating 236% YoY growth. The company has profited generously from low interest rates. Net earnings surged by 28x and stood at $2.8 billion. Adjusted diluted EPS was 89 cents. Closed loan origination volume of $103.5 billion and net rate lock volume of $95.1 billion represented 100% and 70% YoY improvement, respectively.</p>\n<p>CEO Jay Farner stated, “This was the sixth consecutive quarter where our team was able to double the company’s home loan volume year-over-year.”</p>\n<p>Despite an impressive performance, this is one meme stock that does not trade at an astronomical valuation. Analysts have been debating whether the shares should be priced as a consumer or financial company rather than a technology platform as the company would like to increasingly promote itself.</p>\n<p>Reddit group r/WallStreetBets noticed significant short interestin the company and pushed the stock price up to almost $42 in early March. RKT stock currently hovers around $19.50 territory, down nearly 4% YTD.</p>\n<p>The mortgage refinancing market is expected to slow in 2021. Investors are increasingly worried about a potential increase in interest rates given the recent update from the Fed. RKT stock’s forward P/E and current P/B ratios stand at 9.00 and 4.78, respectively.</p>\n<p><b>UWM Holdings (UWMC)</b><img src=\"https://static.tigerbbs.com/fc9d9d460808b03a1b7b500c9372cc59\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: Shutterstock</p>\n<p><b>52-week range:</b>$6.25 – $14.38</p>\n<p><b>Dividend yield:</b>4.20%</p>\n<p>Pontiac, Michigan-based UWM Holdings is the publicly traded indirect parent of United Wholesale Mortgage (UWM), a leading wholesale lender stateside. It underwrites and provides closing documentation for residential mortgage loans originated by independent mortgage brokers, correspondents, small banks, and local credit unions.</p>\n<p>UWMC announcedQ1&nbsp;earningsin early May. Revenue increased more than 160% YoY to $1.2 billion. Net earnings stood at $48 million, or 33 cents per share. Loan volume originations were $49.1 billion, representing a 16% YoY increase from the prior-year quarter. The total gain margin was 219 basis points (bps) in the first quarter compared to 95 bps in the prior-year quarter.</p>\n<p>CEO Mat Ishbia said, “The first quarter of 2021 was not only the best first quarter in our 35-year history, it also marked our first quarter as a public company and solidified our foundation for growth.”</p>\n<p>The period of easy refinancing activity that began with the pandemic seems to be slowing down along with rising interest rates. Analysts are concerned that the next several quarters could therefore be difficult for the whole industry.</p>\n<p>UWMC stock surged morethan 10% on June 9 due to attention from the meme stock community on Reddit. The stock currently trades at $9.50 territory, down more than 27% YTD. The shares are trading at 8.06x their book value.</p>\n<p><b>Zynga (ZNGA)</b><img src=\"https://static.tigerbbs.com/6457f9133e5ba18814f10b7d2d00317c\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: 360b / Shutterstock.com</p>\n<p><b>52-week range:</b>$7.77 – $12.32</p>\n<p>San Francisco, California-based gaming group Zynga develops and markets games played on mobile platforms and social media platforms like<b>Facebook</b>(NASDAQ:<b><u>FB</u></b>). The company generates revenue through mobile game downloads, in-game sales of virtual goods, and advertising services.</p>\n<p>Recent years have seen impressive growth in the video game space, in part driven by mobile games. Metricssuggestthat the industry will be worth :$200 Billion by 2023. The biggest areas of growth are in Latin America and APAC, ” or Asia-Pacific, led by China.</p>\n<p>Zynga announcedQ1numbersin early May. Total revenue was $680 million, up 68.4% YoY. However, the bottom line remained in the red with a $23 million loss. Diluted loss per share was 2 cents for the quarter. Cash and equivalents ended Q1 at $700 million.</p>\n<p>CEO Frank Gibeau said, “We are off to an excellent start in 2021, delivering record Q1 results ahead of guidance and generating strong momentum across all aspects of our growth strategy. Our tremendous quarterly revenue and bookings were driven by breakout performances from our live services, new games, and hyper-casual portfolio.”</p>\n<p>The Street highlights that ZNGA stock boasts growth drivers such as international growth and multiplatform games. Surging sales in China led to a 67% YoY rise in international revenue. Management updated revenue guidance to $2.7 billion for the full year, implying 37% YoY growth, thanks to its new game releases and significant growth from its advertising business. 2021 year-end net loss guidance stands at $135 million.</p>\n<p>Recent days saw a peer,<b>Corsair Gaming</b>(NASDAQ:<b><u>CRSR</u></b>) join the ranks of meme stocks. Various social media groups hype it as the next millionaire-maker stock. Therefore, Zynga shares could well follow suit.</p>\n<p>ZNGA stock currently hovers around $10.30, up almost 5% YTD. Despite its net loss guidance, ZNGA stock trades at 43.48x its forward P/E, higher than<b>Activision Blizzard’s</b>&nbsp;(NASDAQ:<b>ATVI</b>) forward P/E at 25.32. ZNGA stock’s P/S ratio stands at 4.81.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Move Over AMC, Make Way for This New Wave of 7 Favorite Meme Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMove Over AMC, Make Way for This New Wave of 7 Favorite Meme Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 17:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/06/move-over-amc-make-way-for-this-new-wave-of-7-favorite-meme-stocks/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Here are seven shares that could move to meme stock status soon.\n\nMeme stocks are among the hottest topics on Wall Street. As a result, such shares have seen a significant surge in trading activity, ...</p>\n\n<a href=\"https://investorplace.com/2021/06/move-over-amc-make-way-for-this-new-wave-of-7-favorite-meme-stocks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PBI":"必能宝","RKT":"Rocket Companies","ZNGA":"Zynga","KOSS":"高斯电子","UWMC":"UWM Holdings Corporation","CLNE":"Clean Energy Fuels Corp"},"source_url":"https://investorplace.com/2021/06/move-over-amc-make-way-for-this-new-wave-of-7-favorite-meme-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112175042","content_text":"Here are seven shares that could move to meme stock status soon.\n\nMeme stocks are among the hottest topics on Wall Street. As a result, such shares have seen a significant surge in trading activity, often fueled by social media platforms likeReddit andTwitter (NYSE:TWTR). And because the prices of meme stocks tend to skyrocket in a matter of sessions, the mouthwatering returns seem to attract more and more risk takers by the day.\nFor instance,AMC Entertainment Holdings(NYSE:AMC) boasts a year-to-date (YTD) gain of about 2,650%, soaring as much as 561% in January alone. Therefore, today’s article discusses seven stocks thatmay gain traction on social mediasoon and become meme stocks as well.\nRight now, retail investors seem eager toboost their favorite meme stocksafter realizing the magnitude of their collective power. They usually target stocks with significant short interest to squeeze institutional investors into covering their short positions.\nAccording toS3 Partnersdata, investors searching for meme stock candidates may find over 2,000 firms with a market cap of at least $100 million and short interest of 15% or more. Therefore, we could be looking at a retail investor crusade with considerable impact on the stock market.\nWhile these rallies can generate lucrative returns in a short period, most meme stocks are highly volatile. They are valued for their social media popularity rather than their financial performance. Therefore, investors should exercise caution as such shares would not be suitable for all portfolios.\nWith that information, we have identified seven firms poised to build up meme stock status in the near term:\n\nArrival(NASDAQ:ARVL)\nClean Energy Fuels (NASDAQ:CLNE)\nKoss(NASDAQ:KOSS)\nPitney Bowes (NYSE:PBI)\nRocket Companies (NYSE:RKT)\nUWM Holdings (NYSE:UWMC)\nZynga (NASDAQ:ZNGA)\n\nMeme Stocks to Watch:Arrival (ARVL)Source: Shutterstock\n52-week range:$9.80 – $37.18\nBritish electric vehicle (EV) manufacturerArrivalwent public in March after merging with with CIIG Merger Corp, a special purpose acquisition company (SPAC). Arrival is a pre-revenue business focusing on the production of commercial electric vehicle vans and buses.\nThe group claims to be reinventing the automotive industry with its unique approach to building micro-factories near potential customers in metro areas. For instance, the first U.S. micro-factory, in York County, South Carolina, is scheduled to produce electric buses from the fourth quarter of 2021. “The talk is of 1,000 battery buses per year,” Electrive.comreported.\nArrival announcedQ1 financial resultson May 13. Adjusted EBITDA loss was 27 million EUR ($32.3 million) compared to 14 million EUR in the prior-year period. Adjusted loss per share was 16 cents EUR. Cash and equivalents ended the first quarter at 516 million EUR.\nThe current capital expenditure projection stands at $50 million. Management noted the second U.S. micro-factory will be built in Charlotte, North Carolina and the first European van micro-factory will be located in Spain.\n“We are fully focused on executing our business plan to bring our microfactories to multiple cities and markets to serve their communities and accelerate the transition to zero-emission transportation. We continue to expect to have four vehicles — the bus, van, large van, and car — on the market by the end of 2023,” said CEO Denis Sverdlov in theearnings update.\nThe EV group plans to start production of the “Arrival Bus” by Q4. Public road trials of its bus are expected to begin this fall withFirst Bus, one of the U.K.’s largest transport operators.\nMeme stock communitiesnoticed that about 7% of Arrival’s public share float was sold short, as of May 28. ARVL stock jumped more than 15% in mid-June due to the social media frenzy by Reddit users. The share price currently hovers around $18, down 36% YTD.\nClean Energy Fuels (CLNE)Source: ZikG / Shutterstock.com\n52-week range:$2.01 – $19.79\nNewport Beach, California-based Clean Energy Fuels is natural gas marketer and retailer in the U.S. and Canada. The company delivers renewable natural gas (RNG) via liquefied natural gas (LNG) and compressed natural gas (CNG) to its network of fueling stations. In addition, it builds LNG and CNG fueling stations for the transportation market, operating a network of 570 stations in both countries.\nThe company announcedQ1 resultsin early May. Total revenue fell 10.3% year-over-year (YoY) to $77.1 million. Net loss was $7.2 million in the first quarter. Non-GAAP loss per share remained flat YoY at 1 cent. Cash and equivalents stood at $117 million at the end of the quarter.\nCEO Andrew J. Littlefair expressed his satisfaction with the results despite the ongoing effects of the pandemic. Clean Energy Fuels seems well aligned with the Biden administration’s plans to reduce the country’s carbon emissions over the next decade. In addition, CLNE signed a five-year agreement withAmazon (NASDAQ:AMZN) to provide RNG at 27 of its existing fueling stations and another 19 in the near future.\nThe stock soared by more than 30% onJune 8 as a new meme stock candidatebefore plunging 15% on the next day. CLNE stock currently trades at $11.80 territory, up almost 50% YTD. On a a price-to-sales (P/S) basis, shares currently trade at 8.29x.\nKoss (KOSS)Source: SiljeAO / Shutterstock.com\n52-week range:$1.32 – $127.45\nMilwaukee, Wisconsin-based Koss manufactures and sells stereo headphones, wireless Bluetooth speakers, telecommunications headsets, and related accessories. Its history goes back to the 1950’s.\nIn mid-May, the company releasedQ3metrics for the quarter ended March 31. Revenue was $4 million, a 17% decrease from the prior-year period. Net loss increased to $474,168 compared to $97,373 last year. Diluted loss per share was 6 cents compared to 1 cent a year ago.\n“The business has shifted away from a concentration in mass market retailers to more consumer direct, specialty and distributor based channels. The net decline in the quarter’s sales revenue can largely be attributed to the sporadic service disruptions of freight carriers.” remarked CEO Michael J. Koss.\nKOSS stock started 2021 with a 480% surge on January 27 before plunging back over the next three days.The meme stock jumped againon June 2 by almost 70% before entering a corrective decline. The shares currently hover around $23, up more than 550% YTD, and trade at 11.81 times sales.\nPitney Bowes (PBI)Source: Shutterstock\n52-week range:$16.22 – $41.10\nStamford, Connecticut-based Pitney Bowes offers mailing and commerce solutions that also include cross-border e-commerce logistics as well as analytics. Clients worldwide include 90% of the Fortune 500 businesses.\nPitney Bowes announced Q1 resultsin early May. Revenue of $915 million represented a 15% YoY growth. However, the bottom line remained in the red. Net loss was $31.6 million. Adjusted earnings per share (EPS) was 7 cents, up from 5 cents in the prior-year quarter. Cash and equivalents came at $681 million.\nCEO Marc B. Lautenbach remarked, “Revenue continued to demonstrate strong growth, every business improved its EBIT performance from the prior year, and we strengthened our balance sheet.”\nPBI stock soared 51% in January, as the company found itself caught up in the short squeeze craze. However, the stock later plunged in early February despite having just announced surprisingly strong sales results. PBI stock currently hovers slightly above $8, up almost 32% YTD.\nPitney Bowes expects annual revenue to grow in the low-to-mid single-digit range during 2021. Its forward P/E and current P/S ratios stand at 23.15 and 0.38, respectively.\nRocket Companies (RKT)Source: Lori Butcher / Shutterstock.com\n52-week range:$16.22 – $41.10\nDetroit, Michigan-based Rocket is the parent company ofRocket Mortgage, formerly known as Quicken Loans. The financial services group consists of tech-driven real estate, mortgage, and e-commerce businesses. In addition to Rocket Mortgage, the largest mortgage lender stateside, the company has expanded to complementary industries, such as real estate services, auto sales and personal lending. The company went public in August 2020.\nIn mid-May, Rocket released itsQ1 2021 figures. Top line for the first quarter was $4.6 billion indicating 236% YoY growth. The company has profited generously from low interest rates. Net earnings surged by 28x and stood at $2.8 billion. Adjusted diluted EPS was 89 cents. Closed loan origination volume of $103.5 billion and net rate lock volume of $95.1 billion represented 100% and 70% YoY improvement, respectively.\nCEO Jay Farner stated, “This was the sixth consecutive quarter where our team was able to double the company’s home loan volume year-over-year.”\nDespite an impressive performance, this is one meme stock that does not trade at an astronomical valuation. Analysts have been debating whether the shares should be priced as a consumer or financial company rather than a technology platform as the company would like to increasingly promote itself.\nReddit group r/WallStreetBets noticed significant short interestin the company and pushed the stock price up to almost $42 in early March. RKT stock currently hovers around $19.50 territory, down nearly 4% YTD.\nThe mortgage refinancing market is expected to slow in 2021. Investors are increasingly worried about a potential increase in interest rates given the recent update from the Fed. RKT stock’s forward P/E and current P/B ratios stand at 9.00 and 4.78, respectively.\nUWM Holdings (UWMC)Source: Shutterstock\n52-week range:$6.25 – $14.38\nDividend yield:4.20%\nPontiac, Michigan-based UWM Holdings is the publicly traded indirect parent of United Wholesale Mortgage (UWM), a leading wholesale lender stateside. It underwrites and provides closing documentation for residential mortgage loans originated by independent mortgage brokers, correspondents, small banks, and local credit unions.\nUWMC announcedQ1 earningsin early May. Revenue increased more than 160% YoY to $1.2 billion. Net earnings stood at $48 million, or 33 cents per share. Loan volume originations were $49.1 billion, representing a 16% YoY increase from the prior-year quarter. The total gain margin was 219 basis points (bps) in the first quarter compared to 95 bps in the prior-year quarter.\nCEO Mat Ishbia said, “The first quarter of 2021 was not only the best first quarter in our 35-year history, it also marked our first quarter as a public company and solidified our foundation for growth.”\nThe period of easy refinancing activity that began with the pandemic seems to be slowing down along with rising interest rates. Analysts are concerned that the next several quarters could therefore be difficult for the whole industry.\nUWMC stock surged morethan 10% on June 9 due to attention from the meme stock community on Reddit. The stock currently trades at $9.50 territory, down more than 27% YTD. The shares are trading at 8.06x their book value.\nZynga (ZNGA)Source: 360b / Shutterstock.com\n52-week range:$7.77 – $12.32\nSan Francisco, California-based gaming group Zynga develops and markets games played on mobile platforms and social media platforms likeFacebook(NASDAQ:FB). The company generates revenue through mobile game downloads, in-game sales of virtual goods, and advertising services.\nRecent years have seen impressive growth in the video game space, in part driven by mobile games. Metricssuggestthat the industry will be worth :$200 Billion by 2023. The biggest areas of growth are in Latin America and APAC, ” or Asia-Pacific, led by China.\nZynga announcedQ1numbersin early May. Total revenue was $680 million, up 68.4% YoY. However, the bottom line remained in the red with a $23 million loss. Diluted loss per share was 2 cents for the quarter. Cash and equivalents ended Q1 at $700 million.\nCEO Frank Gibeau said, “We are off to an excellent start in 2021, delivering record Q1 results ahead of guidance and generating strong momentum across all aspects of our growth strategy. Our tremendous quarterly revenue and bookings were driven by breakout performances from our live services, new games, and hyper-casual portfolio.”\nThe Street highlights that ZNGA stock boasts growth drivers such as international growth and multiplatform games. Surging sales in China led to a 67% YoY rise in international revenue. Management updated revenue guidance to $2.7 billion for the full year, implying 37% YoY growth, thanks to its new game releases and significant growth from its advertising business. 2021 year-end net loss guidance stands at $135 million.\nRecent days saw a peer,Corsair Gaming(NASDAQ:CRSR) join the ranks of meme stocks. Various social media groups hype it as the next millionaire-maker stock. Therefore, Zynga shares could well follow suit.\nZNGA stock currently hovers around $10.30, up almost 5% YTD. Despite its net loss guidance, ZNGA stock trades at 43.48x its forward P/E, higher thanActivision Blizzard’s (NASDAQ:ATVI) forward P/E at 25.32. ZNGA stock’s P/S ratio stands at 4.81.","news_type":1},"isVote":1,"tweetType":1,"viewCount":299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128729940,"gmtCreate":1624532696580,"gmtModify":1703839566774,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Byd all the way","listText":"Byd all the way","text":"Byd all the way","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128729940","repostId":"2145045355","repostType":4,"repost":{"id":"2145045355","pubTimestamp":1624531991,"share":"https://ttm.financial/m/news/2145045355?lang=&edition=fundamental","pubTime":"2021-06-24 18:53","market":"us","language":"en","title":"Warren Buffett Has Gained More Than 1,000% in These 6 Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2145045355","media":"Motley Fool","summary":"The Oracle of Omaha hit the nail on the head with these half-dozen investments.","content":"<p><b>Berkshire Hathaway</b> (NYSE:BRK.A)(NYSE:BRK.B) CEO Warren Buffett has developed quite the following on Wall Street. That's because his company has averaged... <i>averaged</i>... an annual return of 20% since the mid-1960s. In aggregate, we're talking about a return of more than 2,800,000% through the end of 2020.</p>\n<p>While there are a lot of reasons Buffett has been such a successful investor, his ability to spot businesses with clear-cut competitive advantages and his willingness to hold onto these stakes for very long periods of time have led to massive returns. Not taking into account dividend payments, the Oracle of Omaha is sitting on unrealized gains in the following six stocks of at least 1,000%!</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e92116e97f06291ec28eda85974acb1b\" tg-width=\"700\" tg-height=\"466\"><span>It's easy for Berkshire Hathaway CEO Warren Buffett to be all smiles with gains like these. Image source: The Motley Fool.</span></p>\n<h2>Coca-Cola: Up 1,553%</h2>\n<p>Beverage-giant <b>Coca-Cola</b> (NYSE:KO) is Berkshire Hathaway's longest-held stock. It was initially purchased in 1988, and Buffett and his investing team have a cost basis around $3.25 a share. With Coke closing on June 18 at $53.77, Berkshire is relishing an unrealized gain of just over 1,550%.</p>\n<p>Additionally, Coca-Cola has raised its dividend in each of the past 59 years. Based on its base annual payout of $1.68 in 2021, Berkshire Hathaway will collect $672 million in dividend income this year. And here's the kicker: This represents a nearly 52% yield, based on the company's original cost basis.</p>\n<p>It's highly unlikely that Coca-Cola will ever be sold as long as Warren Buffett is in charge. It's a company with exceptionally strong global brand recognition, a top-notch marketing team, and a presence in all but two countries worldwide (North Korea and Cuba). With 20% of developed-market cold-beverage share and 10% of emerging-market cold-beverage share, Coke's cash flow is as steady as they come.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e620afe74ae7a993a266e744fb1b6cd\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Moody's: Up 3,370%</h2>\n<p>Credit ratings and analytics company <b>Moody's </b>(NYSE:MCO) has also put a pretty penny in the Oracle of Omaha's pockets. According to Berkshire Hathaway's annual shareholder letter, Buffett's company has a cost basis on Moody's of just $10.05. Since it was spun-off from Dun &amp; Bradstreet in 2000, Moody's shares have climbed to almost $349. This works out to an unrealized gain of 3,370%!</p>\n<p>Buffett is also making bank as a result of Moody's dividend growth. While its current yield of 0.7% is enough to make even modest income seekers yawn, the $2.48 base annual payout works out to a nearly 25% yield, based on Berkshire Hathaway's initial cost basis. For that reason alone, Moody's is also unlikely to be sold as long as Buffett is around.</p>\n<p>Make no mistake, there have been financial reasons to be optimistic about Moody's, too. Historically low lending rates have encouraged public companies to issue debt, which is keeping Moody's ratings division busy. Meanwhile, market volatility offers the potential to deliver sustained double-digit growth for Moody's analytics segment.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ed3e6a16841306014bf0cfc3b1697b23\" tg-width=\"700\" tg-height=\"466\"><span>Image source: American Express.</span></p>\n<h2>American Express: Up 1,763%</h2>\n<p>Here's a fun fact to impress all your party guests: 112 million Americans weren't even alive the last time Warren Buffett didn't own payment-processing company <b>American Express</b> (NYSE:AXP) in Berkshire Hathaway's portfolio. Purchased in 1993, Berkshire sports a cost basis of just $8.49 on AmEx. Considering it closed this past weekend at just north of $158, Buffett's company is sitting on an unrealized gain of 1,763%.</p>\n<p>Not to sound like a broken record, but the Oracle of Omaha is also receiving <a href=\"https://laohu8.com/S/AONE\">one</a> heck of a payback from American Express on the dividend front. AmEx's current base annual payout is $1.72 (a 1% annual yield). But relative to Berkshire Hathaway's cost basis, Buffett is pocketing a 20% yield on cost. Not too shabby for being patient!</p>\n<p>AmEx's success can be pinned on it benefiting from long periods of economic expansion, as well as its uncanny ability to court affluent clientele. The well-to-do are far less likely to significantly reduce their spending when minor economic hiccups arise. That often means predictable cash flow for American Express and a generally quick rebound from recessions.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8abdae403dddfa42107e06ea5bfddf39\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>BYD Co.: Up 2,789%</h2>\n<p>Unquestionably, the most under-the-radar outperformer for Berkshire Hathaway has to be electric-vehicle manufacturer <b>BYD</b>.&nbsp; Buffett owns the H-Class shares (OTC:BYDD.F) -- he acquired 225 million shares of the Chinese EV producer in 2008 for an average price of $1.03 a share and has since seen those shares climb to nearly $30. That's just your run-of-the-mill 2,789% unrealized gain in roughly 13 years.</p>\n<p>Although BYD doesn't play a dividend, Buffett is enjoying the fact that his company got in on the ground floor of the EV shift in China. According to the Society of Automotive Engineers of China, half of all new vehicles sales in 2035 will feature alternative energy, 95% of which are expected to be EVs. China is the largest auto market in the world, which gives BYD a really good chance to carve out substantial market share.</p>\n<p>Initial results have been promising. In May, the company sold 32,800 EVs and plug-in hybrids, 18,711 of which were EVs. Looking just at EVs, this was a 126% increase from May 2020. With growth like this, Buffett's investment lieutenants, Todd Combs and Ted Weschler, are liable to encourage the Oracle of Omaha to hold this position even longer.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fc80e4dea1a6f3868ca4f03e6ea300ae\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Mastercard: Up approximately 1,400%</h2>\n<p>Another quadruple-digit gainer for Buffett's portfolio is payment-processor <b>Mastercard</b> (NYSE:MA).</p>\n<p>Whereas Berkshire Hathaway discloses its cost basis on its top 10 or 15 holdings every year, it doesn't do the same for its smaller holdings by market value, which is where Mastercard finds itself. What we do know is that Buffett and his team began gobbling up shares in the first quarter of 2011. During that quarter, Mastercard was valued between $22 and $25, on a split-adjusted basis. If we just arbitrarily say that $24 is the average buy-in for these shares, Berkshire Hathaway is sitting on an unrealized gain of more than 1,400%, as of this past weekend.</p>\n<p>Similar to AmEx, Mastercard is a beneficiary of long-winded bull markets. Even though recessions are inevitable, they last for short periods of time, compared to economic expansions. As the No. 2 in credit card network-purchase volume in the U.S. (the largest market in the world for consumption), Mastercard finds itself in an enviable position to take advantage of increased consumer and enterprise spending.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a295212aa2b7c99c921b8afa2a4aa3a2\" tg-width=\"700\" tg-height=\"467\"><span>Image source: Getty Images.</span></p>\n<h2><a href=\"https://laohu8.com/S/V\">Visa</a>: Up approximately 1,000%</h2>\n<p>Finally, to round things out, we have Mastercard's big brother, <b>Visa</b> (NYSE:V). Like Mastercard, Visa is a smaller holding for Berkshire Hathaway, which means there's no specific cost-basis information.</p>\n<p>What we do know is that the Oracle of Omaha and his team acquired shares in the third quarter of 2011. During that time, Visa shares could be purchased for between $19 and $23, on a split-adjusted basis, with an average price during the quarter around $21. Assuming this average is accurate, Berkshire is sitting on an unrealized gain of about 1,000%.</p>\n<p>The really interesting differentiator for Visa and its peer Mastercard is their choice to avoid lending. While some of their processing peers also lend (AmEx), and are therefore able to generate interest and fee-based income during periods of expansion, these lenders are also exposed to credit delinquencies during economic contractions and recessions. By not lending, Visa and Mastercard don't have to set aside cash to cover delinquencies, which is why they rebound more quickly than other financial stocks after a recession.</p>\n<p>Visa is also the clear kingpin in the U.S. market. As of 2018, Visa controlled 53% of U.S. credit card network-purchase volume. It also closed on the acquisition of Visa Europe in 2016. In short, there's ample opportunity for Visa to continue growing by a low double-digit percentage on an annual basis.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett Has Gained More Than 1,000% in These 6 Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett Has Gained More Than 1,000% in These 6 Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 18:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/24/warren-buffett-gained-more-than-1000-in-6-stocks/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) CEO Warren Buffett has developed quite the following on Wall Street. That's because his company has averaged... averaged... an annual return of 20% since ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/24/warren-buffett-gained-more-than-1000-in-6-stocks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","V":"Visa","KO":"可口可乐","BRK.B":"伯克希尔B","BYDDF":"BYD Co., Ltd.","MA":"万事达","MCO":"穆迪","AXP":"美国运通"},"source_url":"https://www.fool.com/investing/2021/06/24/warren-buffett-gained-more-than-1000-in-6-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145045355","content_text":"Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) CEO Warren Buffett has developed quite the following on Wall Street. That's because his company has averaged... averaged... an annual return of 20% since the mid-1960s. In aggregate, we're talking about a return of more than 2,800,000% through the end of 2020.\nWhile there are a lot of reasons Buffett has been such a successful investor, his ability to spot businesses with clear-cut competitive advantages and his willingness to hold onto these stakes for very long periods of time have led to massive returns. Not taking into account dividend payments, the Oracle of Omaha is sitting on unrealized gains in the following six stocks of at least 1,000%!\nIt's easy for Berkshire Hathaway CEO Warren Buffett to be all smiles with gains like these. Image source: The Motley Fool.\nCoca-Cola: Up 1,553%\nBeverage-giant Coca-Cola (NYSE:KO) is Berkshire Hathaway's longest-held stock. It was initially purchased in 1988, and Buffett and his investing team have a cost basis around $3.25 a share. With Coke closing on June 18 at $53.77, Berkshire is relishing an unrealized gain of just over 1,550%.\nAdditionally, Coca-Cola has raised its dividend in each of the past 59 years. Based on its base annual payout of $1.68 in 2021, Berkshire Hathaway will collect $672 million in dividend income this year. And here's the kicker: This represents a nearly 52% yield, based on the company's original cost basis.\nIt's highly unlikely that Coca-Cola will ever be sold as long as Warren Buffett is in charge. It's a company with exceptionally strong global brand recognition, a top-notch marketing team, and a presence in all but two countries worldwide (North Korea and Cuba). With 20% of developed-market cold-beverage share and 10% of emerging-market cold-beverage share, Coke's cash flow is as steady as they come.\nImage source: Getty Images.\nMoody's: Up 3,370%\nCredit ratings and analytics company Moody's (NYSE:MCO) has also put a pretty penny in the Oracle of Omaha's pockets. According to Berkshire Hathaway's annual shareholder letter, Buffett's company has a cost basis on Moody's of just $10.05. Since it was spun-off from Dun & Bradstreet in 2000, Moody's shares have climbed to almost $349. This works out to an unrealized gain of 3,370%!\nBuffett is also making bank as a result of Moody's dividend growth. While its current yield of 0.7% is enough to make even modest income seekers yawn, the $2.48 base annual payout works out to a nearly 25% yield, based on Berkshire Hathaway's initial cost basis. For that reason alone, Moody's is also unlikely to be sold as long as Buffett is around.\nMake no mistake, there have been financial reasons to be optimistic about Moody's, too. Historically low lending rates have encouraged public companies to issue debt, which is keeping Moody's ratings division busy. Meanwhile, market volatility offers the potential to deliver sustained double-digit growth for Moody's analytics segment.\nImage source: American Express.\nAmerican Express: Up 1,763%\nHere's a fun fact to impress all your party guests: 112 million Americans weren't even alive the last time Warren Buffett didn't own payment-processing company American Express (NYSE:AXP) in Berkshire Hathaway's portfolio. Purchased in 1993, Berkshire sports a cost basis of just $8.49 on AmEx. Considering it closed this past weekend at just north of $158, Buffett's company is sitting on an unrealized gain of 1,763%.\nNot to sound like a broken record, but the Oracle of Omaha is also receiving one heck of a payback from American Express on the dividend front. AmEx's current base annual payout is $1.72 (a 1% annual yield). But relative to Berkshire Hathaway's cost basis, Buffett is pocketing a 20% yield on cost. Not too shabby for being patient!\nAmEx's success can be pinned on it benefiting from long periods of economic expansion, as well as its uncanny ability to court affluent clientele. The well-to-do are far less likely to significantly reduce their spending when minor economic hiccups arise. That often means predictable cash flow for American Express and a generally quick rebound from recessions.\nImage source: Getty Images.\nBYD Co.: Up 2,789%\nUnquestionably, the most under-the-radar outperformer for Berkshire Hathaway has to be electric-vehicle manufacturer BYD.  Buffett owns the H-Class shares (OTC:BYDD.F) -- he acquired 225 million shares of the Chinese EV producer in 2008 for an average price of $1.03 a share and has since seen those shares climb to nearly $30. That's just your run-of-the-mill 2,789% unrealized gain in roughly 13 years.\nAlthough BYD doesn't play a dividend, Buffett is enjoying the fact that his company got in on the ground floor of the EV shift in China. According to the Society of Automotive Engineers of China, half of all new vehicles sales in 2035 will feature alternative energy, 95% of which are expected to be EVs. China is the largest auto market in the world, which gives BYD a really good chance to carve out substantial market share.\nInitial results have been promising. In May, the company sold 32,800 EVs and plug-in hybrids, 18,711 of which were EVs. Looking just at EVs, this was a 126% increase from May 2020. With growth like this, Buffett's investment lieutenants, Todd Combs and Ted Weschler, are liable to encourage the Oracle of Omaha to hold this position even longer.\nImage source: Getty Images.\nMastercard: Up approximately 1,400%\nAnother quadruple-digit gainer for Buffett's portfolio is payment-processor Mastercard (NYSE:MA).\nWhereas Berkshire Hathaway discloses its cost basis on its top 10 or 15 holdings every year, it doesn't do the same for its smaller holdings by market value, which is where Mastercard finds itself. What we do know is that Buffett and his team began gobbling up shares in the first quarter of 2011. During that quarter, Mastercard was valued between $22 and $25, on a split-adjusted basis. If we just arbitrarily say that $24 is the average buy-in for these shares, Berkshire Hathaway is sitting on an unrealized gain of more than 1,400%, as of this past weekend.\nSimilar to AmEx, Mastercard is a beneficiary of long-winded bull markets. Even though recessions are inevitable, they last for short periods of time, compared to economic expansions. As the No. 2 in credit card network-purchase volume in the U.S. (the largest market in the world for consumption), Mastercard finds itself in an enviable position to take advantage of increased consumer and enterprise spending.\nImage source: Getty Images.\nVisa: Up approximately 1,000%\nFinally, to round things out, we have Mastercard's big brother, Visa (NYSE:V). Like Mastercard, Visa is a smaller holding for Berkshire Hathaway, which means there's no specific cost-basis information.\nWhat we do know is that the Oracle of Omaha and his team acquired shares in the third quarter of 2011. During that time, Visa shares could be purchased for between $19 and $23, on a split-adjusted basis, with an average price during the quarter around $21. Assuming this average is accurate, Berkshire is sitting on an unrealized gain of about 1,000%.\nThe really interesting differentiator for Visa and its peer Mastercard is their choice to avoid lending. While some of their processing peers also lend (AmEx), and are therefore able to generate interest and fee-based income during periods of expansion, these lenders are also exposed to credit delinquencies during economic contractions and recessions. By not lending, Visa and Mastercard don't have to set aside cash to cover delinquencies, which is why they rebound more quickly than other financial stocks after a recession.\nVisa is also the clear kingpin in the U.S. market. As of 2018, Visa controlled 53% of U.S. credit card network-purchase volume. It also closed on the acquisition of Visa Europe in 2016. In short, there's ample opportunity for Visa to continue growing by a low double-digit percentage on an annual basis.","news_type":1},"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123431404,"gmtCreate":1624433553708,"gmtModify":1703836542852,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Cyclical&nbsp;","listText":"Cyclical&nbsp;","text":"Cyclical","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123431404","repostId":"1143759096","repostType":4,"repost":{"id":"1143759096","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624371721,"share":"https://ttm.financial/m/news/1143759096?lang=&edition=fundamental","pubTime":"2021-06-22 22:22","market":"us","language":"en","title":"EV stocks fell in morning trading. Chinese EV Stocks Fully Priced Following Recent Rally, Planned Rate Hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1143759096","media":"Tiger Newspress","summary":"(June 22) EV stocks fell in morning trading. Tesla fell 0.33%, XPeng fell over 5%, NIO fell over 3%,","content":"<p>(June 22)&nbsp;EV stocks fell in morning trading.&nbsp;Tesla fell 0.33%, XPeng fell over 5%, NIO fell over 3%,&nbsp;LI&nbsp;fell&nbsp;about&nbsp;2%.</p>\n<p><img src=\"https://static.tigerbbs.com/a423484cc524b2f71e91b83e759455a9\" tg-width=\"289\" tg-height=\"211\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Li Auto, Nio, Xpeng: Chinese EV Stocks Fully Priced Following Recent Rally, Planned Rate Hikes,</b>&nbsp;<b>According&nbsp;To&nbsp;Forbes.</b></p>\n<p>The stocks of Chinese EV players have surged over the last month, largely reversing the effects of the sell-off seen earlier this year.Nio stock(NYSE: NIO) has rallied by almost 38% over the last month, Li Auto (NASDAQ: LI) gained 45%, and Xpeng (NYSE: XPEV) surged by almost 58%. Now although the three companies posted mixed delivery figures for the month of May, with Nio and Li Auto both posting declines in their deliveries versus April, and Xpeng growing sales marginally, the sales numbers likely weren’t as bad as expected, considering the semiconductor shortage that has roiled the auto industry. In contrast, major auto players such as GM and Ford had to temporarily idle or scale back production at several plants.</p>\n<p>The outlook provided by the three companies was also stronger than expected, giving investors confidence that the worst of the semiconductor shortage is likely over. Li Auto has guided to 14,500 to 15,500 deliveries for the second quarter, a sequential increase of 22% on the upper end. The company says that it is optimistic that actual numbers will exceed guidance, given that it is seeing stronger than expected orders for the upgraded version of its Li One SUV. Nio also reiterated its Q2 2021 delivery guidance of 21,000 to 22,000 vehicles, implying that it could deliver a record 8,200 vehicles in June.</p>\n<p>Now are the stocks a buy at current levels? While the growth outlook is certainly strong, the stocks don’t exactly appear cheap at current valuations. Nio trades at 14x forward revenue, while Li Auto trades at 9x, and Xpeng trades at about 16x. Near-term threats to EV valuations include higher inflation and recent commentary by the U.S. Federal Reserve, which is now apparently looking at two interest rate hikes in 2023, instead of 2024. This could put pressure on high-multiple, high-growth stocks, including EV names. In our analysis&nbsp;<b>Nio, Xpeng &amp; Li Auto: How Do Chinese EV Stocks Compare?</b>&nbsp;we compare the financial performance and valuations of the major U.S. listed Chinese electric vehicle players.</p>\n<p><b>[6/2/2021] Is The Worst Of The Semiconductor Crunch Over For Chinese EVs?</b></p>\n<p>Chinese electric vehicle majorsNio (NYSE: NIO)and Xpeng (NYSE: XPEV) provided mixed delivery figures for the month of May, as they continued to be impacted by the current shortage of semiconductors. While Nio delivered a total of 6,711 vehicles in May, down 5.5% from April, Xpeng was able to grow deliveries by about 10% over the last month to 5,686 units, although the number is below peak monthly sales of 6,015 vehicles witnessed in January. Although both companies reported robust year-over-year growth numbers (2x to 6x), the sequential figures are more closely tracked for fast-growing companies.</p>\n<p>However, things are probably going to get better from here. Nio, for instance, reiterated its Q2 2021 delivery guidance of 21,000 to 22,000 vehicles, implying that it could deliver as many as 8,200 vehicles in June, a monthly record. This is likely an indicator that the global automotive semiconductor shortage is easing off, and also a sign that Nio is holding its own in the Chinese EV market, despite mounting competition. Nio stock rallied by almost 10% in Tuesday’s trading, while Xpeng’s stock was up by about 8% following the report.</p>\n<p>Despite the recent rally, the stocks might still be worth considering at current levels. Nio stock remains down by about 20% year-to-date while Xpeng is down by about 22%. See our analysis on&nbsp;<b>Nio, Xpeng &amp; Li Auto: How Do Chinese EV Stocks Compare?</b>for an overview of the financial and valuation metrics of the three U.S. listed Chinese EV players.</p>\n<p><b>[5/21/2021] How Do Chinese EV Stocks Compare?</b></p>\n<p>U.S. listed Chinese EV players Nio (NYSE: NIO), Xpeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) have underperformed this year, with their stocks down by roughly 30% each, since early January. So how do these stocks compare post the correction? While Nio and Xpeng remain pricier compared to Li Auto, they probably justify their higher valuation for a couple of reasons. Here is a bit more about these companies.</p>\n<p>Our analysis&nbsp;<b>Nio, Xpeng &amp; Li Auto: How Do Chinese EV Stocks Compare?</b>&nbsp;compares the financial performance and valuation of the major U.S. listed Chinese electric vehicle players.</p>\n<p>Nio remains the most richly valued of the three companies, trading at about 10.5x forward revenue. Revenues are likely to grow by over 110% this year, per consensus estimates. Longer-term growth is also likely to remain strong, given the company’s wide product portfolio (it already has three models on the market), its unique innovations such as battery swapping, its global expansion plans, and investments into autonomous driving. Nio brand also has a lot more buzz, with the company viewed as the most direct rival to Tesla in China. Gross margins stood at 19.5% in Q1 2021, up from a negative 12% a year ago.</p>\n<p>Xpeng trades at about 10x projected 2021 revenues. Sales growth is projected to be the strongest among the three companies, rising by over 150% this year, per consensus estimates. Besides its higher projected growth, investors have been assigning a premium to the company due to its progress in the autonomous driving space. Xpeng currently sells the G3 SUV and the P7 sedan and its new P5 compact sedan is likely to hit the roads later this year. Although Xpeng’s gross margins have improved, rising to about 11% over Q1, versus negative levels a year ago, they are still below Nio’s margins.</p>\n<p>Li Auto trades at just 6x projected 2021 revenues, the lowest of the three companies. Revenues are likely to roughly double this year, with gross margins standing at 17.5% as of Q4 2020 (the company has yet to report Q1 results). The lower valuation is likely due to the company’s focus on a single product - the Li Xiang ONE, an electric SUV that also has a small gasoline engine and also due to the fact that Li Auto is behind rivals in terms of autonomous driving tech.</p>\n<p><b>[10/30/2020] How Do Nio, Xpeng, and Li Auto Compare</b></p>\n<p>The Chinese electric vehicle space is booming, with China-based manufacturers accounting for over 50% of global EV deliveries. Demand for EVs in China is likely to remain robust as the Chinese government wants about 25% of all new cars sold in the country to be electric by 2025, up from roughly 5% at present.[1]While Tesla is a leader in the Chinese luxury EV market driven by production at its new Shanghai facility, Nio, Xpeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) - three relatively young U.S. listed Chinese electric vehicle players, have also been gaining traction. In our analysis<b>Nio, Xpeng &amp; Li Auto: How Do Chinese EV Stocks Compare?</b>we compare the financial performance and valuation of the major U.S. listed Chinese electric vehicle players. Parts of the analysis are summarized below.</p>\n<p><b>Overview Of Nio, Li Auto &amp; Xpeng’s Business</b></p>\n<p>Nio, which was founded in 2014, currently offers three premium electric SUVs, ES8, ES6, and EC6, which are priced starting at about $50k. The company is working on developing self-driving technology and also offers other unique innovations such as Battery as a Service (BaaS) - which allows customers to subscribe for car batteries, rather than paying for them upfront. While the company has scaled up production, it hasn’t come without challenges, as it recalled about 5,000 vehicles last year after reports of multiple fires.</p>\n<p>Li Auto sells Extended-Range Electric Vehicles, which are essentially EVs that also have a small gasoline engine that can generate additional electric power for the battery. This reduces the need for EV-charging infrastructure, which is currently limited in China. The company’s hybrid strategy appears to be paying off - with its Li ONE SUV, which is priced at about $46,000 - ranking as the top-selling SUV in the new energy vehicle segment in China in September 2020. The new energy segment includes fuel cell, electric, and plug-in hybrid vehicles.</p>\n<p>Xpeng produces and sells premium electric vehicles including the G3 SUV and the P7 four-door sedan, which are roughly positioned as rivals to Tesla’s Model Y SUV and Model 3 sedan, although they are more affordable, with the basic version of the G3 starting at about $22,000 post subsidies. The G3 SUV was among the top 3 Electric SUVs in terms of sales in China in 2019. While the company began production in late 2018, initially via a deal with an established automaker, it has started production at its own factory in the Guangdong province.</p>\n<p><b>How Have The Deliveries, Revenues &amp; Margins Trended</b></p>\n<p>Nio delivered about 21k vehicles in 2019, up from about 11k vehicles in 2018. This compares to Xpeng which delivered about 13k vehicles in 2019 and Li Auto which delivered about 1k vehicles, considering that it began production only late last year. While Nio’s deliveries this year could approach about 40k units, Li Auto and Xpeng are likely to deliver around 25k vehicles with Li Auto seeing the highest growth. Over 2019, Nio’s Revenues stood at $1.1 billion, compared to about $40 million for Li Auto and $330 million for Xpeng. Nio’s Revenues are likely to grow 95% this year, while Xpeng’s Revenues are likely to grow by about 120%. All three companies remain deeply lossmaking as costs related to R&amp;D and SG&amp;A remain high relative to Revenues. Nio’s Net Margins stood at -195% in 2019, Li Auto’s margins stood at about -860% while Xpeng’s margins stood at -160%. However, margins are likely to improve sharply in 2020, as volumes pick up.</p>\n<p><b>Valuation</b></p>\n<p>Nio’s Market Cap stood at about $37 billion as of October 28, 2020, with its stock price rising by about 7x year-to-date due to surging investor interest in EV stocks. Li Auto and Xpeng, which were both listed in the U.S. around August as they looked to capitalize on surging valuations, have a market cap of about $15 billion and $14 billion, respectively. On a relative basis, Nio trades at about 15x projected 2020 Revenues, Li Auto trades at about 12x, while Xpeng trades at about 20x.</p>\n<p>While valuations are certainly high, investors are likely betting that these companies will continue to grow in the domestic market, while eventually playing a larger role in the global EV space leveraging China’s relatively low-cost manufacturing, and the country’s ecosystem of battery and auto parts suppliers. Of the three companies, Nio might be the safer bet, considering its slightly longer track record, higher Revenues, and investments in technology such as battery swaps and self-driving. Li Auto also looks attractive considering its rapid growth - driven by the uptake of its hybrid powertrains - and relatively attractive valuation of about 12x 2020 Revenues.</p>\n<p>Electric vehicles are the future of transportation, but picking the right EV stocks can be tricky. Investing in<b>Electric Vehicle Component Supplier Stocks</b>can be a good alternative to play the growth in the EV market.</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>EV stocks fell in morning trading. Chinese EV Stocks Fully Priced Following Recent Rally, Planned Rate Hikes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV stocks fell in morning trading. Chinese EV Stocks Fully Priced Following Recent Rally, Planned Rate Hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-22 22:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 22)&nbsp;EV stocks fell in morning trading.&nbsp;Tesla fell 0.33%, XPeng fell over 5%, NIO fell over 3%,&nbsp;LI&nbsp;fell&nbsp;about&nbsp;2%.</p>\n<p><img src=\"https://static.tigerbbs.com/a423484cc524b2f71e91b83e759455a9\" tg-width=\"289\" tg-height=\"211\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Li Auto, Nio, Xpeng: Chinese EV Stocks Fully Priced Following Recent Rally, Planned Rate Hikes,</b>&nbsp;<b>According&nbsp;To&nbsp;Forbes.</b></p>\n<p>The stocks of Chinese EV players have surged over the last month, largely reversing the effects of the sell-off seen earlier this year.Nio stock(NYSE: NIO) has rallied by almost 38% over the last month, Li Auto (NASDAQ: LI) gained 45%, and Xpeng (NYSE: XPEV) surged by almost 58%. Now although the three companies posted mixed delivery figures for the month of May, with Nio and Li Auto both posting declines in their deliveries versus April, and Xpeng growing sales marginally, the sales numbers likely weren’t as bad as expected, considering the semiconductor shortage that has roiled the auto industry. In contrast, major auto players such as GM and Ford had to temporarily idle or scale back production at several plants.</p>\n<p>The outlook provided by the three companies was also stronger than expected, giving investors confidence that the worst of the semiconductor shortage is likely over. Li Auto has guided to 14,500 to 15,500 deliveries for the second quarter, a sequential increase of 22% on the upper end. The company says that it is optimistic that actual numbers will exceed guidance, given that it is seeing stronger than expected orders for the upgraded version of its Li One SUV. Nio also reiterated its Q2 2021 delivery guidance of 21,000 to 22,000 vehicles, implying that it could deliver a record 8,200 vehicles in June.</p>\n<p>Now are the stocks a buy at current levels? While the growth outlook is certainly strong, the stocks don’t exactly appear cheap at current valuations. Nio trades at 14x forward revenue, while Li Auto trades at 9x, and Xpeng trades at about 16x. Near-term threats to EV valuations include higher inflation and recent commentary by the U.S. Federal Reserve, which is now apparently looking at two interest rate hikes in 2023, instead of 2024. This could put pressure on high-multiple, high-growth stocks, including EV names. In our analysis&nbsp;<b>Nio, Xpeng &amp; Li Auto: How Do Chinese EV Stocks Compare?</b>&nbsp;we compare the financial performance and valuations of the major U.S. listed Chinese electric vehicle players.</p>\n<p><b>[6/2/2021] Is The Worst Of The Semiconductor Crunch Over For Chinese EVs?</b></p>\n<p>Chinese electric vehicle majorsNio (NYSE: NIO)and Xpeng (NYSE: XPEV) provided mixed delivery figures for the month of May, as they continued to be impacted by the current shortage of semiconductors. While Nio delivered a total of 6,711 vehicles in May, down 5.5% from April, Xpeng was able to grow deliveries by about 10% over the last month to 5,686 units, although the number is below peak monthly sales of 6,015 vehicles witnessed in January. Although both companies reported robust year-over-year growth numbers (2x to 6x), the sequential figures are more closely tracked for fast-growing companies.</p>\n<p>However, things are probably going to get better from here. Nio, for instance, reiterated its Q2 2021 delivery guidance of 21,000 to 22,000 vehicles, implying that it could deliver as many as 8,200 vehicles in June, a monthly record. This is likely an indicator that the global automotive semiconductor shortage is easing off, and also a sign that Nio is holding its own in the Chinese EV market, despite mounting competition. Nio stock rallied by almost 10% in Tuesday’s trading, while Xpeng’s stock was up by about 8% following the report.</p>\n<p>Despite the recent rally, the stocks might still be worth considering at current levels. Nio stock remains down by about 20% year-to-date while Xpeng is down by about 22%. See our analysis on&nbsp;<b>Nio, Xpeng &amp; Li Auto: How Do Chinese EV Stocks Compare?</b>for an overview of the financial and valuation metrics of the three U.S. listed Chinese EV players.</p>\n<p><b>[5/21/2021] How Do Chinese EV Stocks Compare?</b></p>\n<p>U.S. listed Chinese EV players Nio (NYSE: NIO), Xpeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) have underperformed this year, with their stocks down by roughly 30% each, since early January. So how do these stocks compare post the correction? While Nio and Xpeng remain pricier compared to Li Auto, they probably justify their higher valuation for a couple of reasons. Here is a bit more about these companies.</p>\n<p>Our analysis&nbsp;<b>Nio, Xpeng &amp; Li Auto: How Do Chinese EV Stocks Compare?</b>&nbsp;compares the financial performance and valuation of the major U.S. listed Chinese electric vehicle players.</p>\n<p>Nio remains the most richly valued of the three companies, trading at about 10.5x forward revenue. Revenues are likely to grow by over 110% this year, per consensus estimates. Longer-term growth is also likely to remain strong, given the company’s wide product portfolio (it already has three models on the market), its unique innovations such as battery swapping, its global expansion plans, and investments into autonomous driving. Nio brand also has a lot more buzz, with the company viewed as the most direct rival to Tesla in China. Gross margins stood at 19.5% in Q1 2021, up from a negative 12% a year ago.</p>\n<p>Xpeng trades at about 10x projected 2021 revenues. Sales growth is projected to be the strongest among the three companies, rising by over 150% this year, per consensus estimates. Besides its higher projected growth, investors have been assigning a premium to the company due to its progress in the autonomous driving space. Xpeng currently sells the G3 SUV and the P7 sedan and its new P5 compact sedan is likely to hit the roads later this year. Although Xpeng’s gross margins have improved, rising to about 11% over Q1, versus negative levels a year ago, they are still below Nio’s margins.</p>\n<p>Li Auto trades at just 6x projected 2021 revenues, the lowest of the three companies. Revenues are likely to roughly double this year, with gross margins standing at 17.5% as of Q4 2020 (the company has yet to report Q1 results). The lower valuation is likely due to the company’s focus on a single product - the Li Xiang ONE, an electric SUV that also has a small gasoline engine and also due to the fact that Li Auto is behind rivals in terms of autonomous driving tech.</p>\n<p><b>[10/30/2020] How Do Nio, Xpeng, and Li Auto Compare</b></p>\n<p>The Chinese electric vehicle space is booming, with China-based manufacturers accounting for over 50% of global EV deliveries. Demand for EVs in China is likely to remain robust as the Chinese government wants about 25% of all new cars sold in the country to be electric by 2025, up from roughly 5% at present.[1]While Tesla is a leader in the Chinese luxury EV market driven by production at its new Shanghai facility, Nio, Xpeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) - three relatively young U.S. listed Chinese electric vehicle players, have also been gaining traction. In our analysis<b>Nio, Xpeng &amp; Li Auto: How Do Chinese EV Stocks Compare?</b>we compare the financial performance and valuation of the major U.S. listed Chinese electric vehicle players. Parts of the analysis are summarized below.</p>\n<p><b>Overview Of Nio, Li Auto &amp; Xpeng’s Business</b></p>\n<p>Nio, which was founded in 2014, currently offers three premium electric SUVs, ES8, ES6, and EC6, which are priced starting at about $50k. The company is working on developing self-driving technology and also offers other unique innovations such as Battery as a Service (BaaS) - which allows customers to subscribe for car batteries, rather than paying for them upfront. While the company has scaled up production, it hasn’t come without challenges, as it recalled about 5,000 vehicles last year after reports of multiple fires.</p>\n<p>Li Auto sells Extended-Range Electric Vehicles, which are essentially EVs that also have a small gasoline engine that can generate additional electric power for the battery. This reduces the need for EV-charging infrastructure, which is currently limited in China. The company’s hybrid strategy appears to be paying off - with its Li ONE SUV, which is priced at about $46,000 - ranking as the top-selling SUV in the new energy vehicle segment in China in September 2020. The new energy segment includes fuel cell, electric, and plug-in hybrid vehicles.</p>\n<p>Xpeng produces and sells premium electric vehicles including the G3 SUV and the P7 four-door sedan, which are roughly positioned as rivals to Tesla’s Model Y SUV and Model 3 sedan, although they are more affordable, with the basic version of the G3 starting at about $22,000 post subsidies. The G3 SUV was among the top 3 Electric SUVs in terms of sales in China in 2019. While the company began production in late 2018, initially via a deal with an established automaker, it has started production at its own factory in the Guangdong province.</p>\n<p><b>How Have The Deliveries, Revenues &amp; Margins Trended</b></p>\n<p>Nio delivered about 21k vehicles in 2019, up from about 11k vehicles in 2018. This compares to Xpeng which delivered about 13k vehicles in 2019 and Li Auto which delivered about 1k vehicles, considering that it began production only late last year. While Nio’s deliveries this year could approach about 40k units, Li Auto and Xpeng are likely to deliver around 25k vehicles with Li Auto seeing the highest growth. Over 2019, Nio’s Revenues stood at $1.1 billion, compared to about $40 million for Li Auto and $330 million for Xpeng. Nio’s Revenues are likely to grow 95% this year, while Xpeng’s Revenues are likely to grow by about 120%. All three companies remain deeply lossmaking as costs related to R&amp;D and SG&amp;A remain high relative to Revenues. Nio’s Net Margins stood at -195% in 2019, Li Auto’s margins stood at about -860% while Xpeng’s margins stood at -160%. However, margins are likely to improve sharply in 2020, as volumes pick up.</p>\n<p><b>Valuation</b></p>\n<p>Nio’s Market Cap stood at about $37 billion as of October 28, 2020, with its stock price rising by about 7x year-to-date due to surging investor interest in EV stocks. Li Auto and Xpeng, which were both listed in the U.S. around August as they looked to capitalize on surging valuations, have a market cap of about $15 billion and $14 billion, respectively. On a relative basis, Nio trades at about 15x projected 2020 Revenues, Li Auto trades at about 12x, while Xpeng trades at about 20x.</p>\n<p>While valuations are certainly high, investors are likely betting that these companies will continue to grow in the domestic market, while eventually playing a larger role in the global EV space leveraging China’s relatively low-cost manufacturing, and the country’s ecosystem of battery and auto parts suppliers. Of the three companies, Nio might be the safer bet, considering its slightly longer track record, higher Revenues, and investments in technology such as battery swaps and self-driving. Li Auto also looks attractive considering its rapid growth - driven by the uptake of its hybrid powertrains - and relatively attractive valuation of about 12x 2020 Revenues.</p>\n<p>Electric vehicles are the future of transportation, but picking the right EV stocks can be tricky. Investing in<b>Electric Vehicle Component Supplier Stocks</b>can be a good alternative to play the growth in the EV market.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","LI":"理想汽车","XPEV":"小鹏汽车","TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143759096","content_text":"(June 22) EV stocks fell in morning trading. Tesla fell 0.33%, XPeng fell over 5%, NIO fell over 3%, LI fell about 2%.\n\nLi Auto, Nio, Xpeng: Chinese EV Stocks Fully Priced Following Recent Rally, Planned Rate Hikes, According To Forbes.\nThe stocks of Chinese EV players have surged over the last month, largely reversing the effects of the sell-off seen earlier this year.Nio stock(NYSE: NIO) has rallied by almost 38% over the last month, Li Auto (NASDAQ: LI) gained 45%, and Xpeng (NYSE: XPEV) surged by almost 58%. Now although the three companies posted mixed delivery figures for the month of May, with Nio and Li Auto both posting declines in their deliveries versus April, and Xpeng growing sales marginally, the sales numbers likely weren’t as bad as expected, considering the semiconductor shortage that has roiled the auto industry. In contrast, major auto players such as GM and Ford had to temporarily idle or scale back production at several plants.\nThe outlook provided by the three companies was also stronger than expected, giving investors confidence that the worst of the semiconductor shortage is likely over. Li Auto has guided to 14,500 to 15,500 deliveries for the second quarter, a sequential increase of 22% on the upper end. The company says that it is optimistic that actual numbers will exceed guidance, given that it is seeing stronger than expected orders for the upgraded version of its Li One SUV. Nio also reiterated its Q2 2021 delivery guidance of 21,000 to 22,000 vehicles, implying that it could deliver a record 8,200 vehicles in June.\nNow are the stocks a buy at current levels? While the growth outlook is certainly strong, the stocks don’t exactly appear cheap at current valuations. Nio trades at 14x forward revenue, while Li Auto trades at 9x, and Xpeng trades at about 16x. Near-term threats to EV valuations include higher inflation and recent commentary by the U.S. Federal Reserve, which is now apparently looking at two interest rate hikes in 2023, instead of 2024. This could put pressure on high-multiple, high-growth stocks, including EV names. In our analysis Nio, Xpeng & Li Auto: How Do Chinese EV Stocks Compare? we compare the financial performance and valuations of the major U.S. listed Chinese electric vehicle players.\n[6/2/2021] Is The Worst Of The Semiconductor Crunch Over For Chinese EVs?\nChinese electric vehicle majorsNio (NYSE: NIO)and Xpeng (NYSE: XPEV) provided mixed delivery figures for the month of May, as they continued to be impacted by the current shortage of semiconductors. While Nio delivered a total of 6,711 vehicles in May, down 5.5% from April, Xpeng was able to grow deliveries by about 10% over the last month to 5,686 units, although the number is below peak monthly sales of 6,015 vehicles witnessed in January. Although both companies reported robust year-over-year growth numbers (2x to 6x), the sequential figures are more closely tracked for fast-growing companies.\nHowever, things are probably going to get better from here. Nio, for instance, reiterated its Q2 2021 delivery guidance of 21,000 to 22,000 vehicles, implying that it could deliver as many as 8,200 vehicles in June, a monthly record. This is likely an indicator that the global automotive semiconductor shortage is easing off, and also a sign that Nio is holding its own in the Chinese EV market, despite mounting competition. Nio stock rallied by almost 10% in Tuesday’s trading, while Xpeng’s stock was up by about 8% following the report.\nDespite the recent rally, the stocks might still be worth considering at current levels. Nio stock remains down by about 20% year-to-date while Xpeng is down by about 22%. See our analysis on Nio, Xpeng & Li Auto: How Do Chinese EV Stocks Compare?for an overview of the financial and valuation metrics of the three U.S. listed Chinese EV players.\n[5/21/2021] How Do Chinese EV Stocks Compare?\nU.S. listed Chinese EV players Nio (NYSE: NIO), Xpeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) have underperformed this year, with their stocks down by roughly 30% each, since early January. So how do these stocks compare post the correction? While Nio and Xpeng remain pricier compared to Li Auto, they probably justify their higher valuation for a couple of reasons. Here is a bit more about these companies.\nOur analysis Nio, Xpeng & Li Auto: How Do Chinese EV Stocks Compare? compares the financial performance and valuation of the major U.S. listed Chinese electric vehicle players.\nNio remains the most richly valued of the three companies, trading at about 10.5x forward revenue. Revenues are likely to grow by over 110% this year, per consensus estimates. Longer-term growth is also likely to remain strong, given the company’s wide product portfolio (it already has three models on the market), its unique innovations such as battery swapping, its global expansion plans, and investments into autonomous driving. Nio brand also has a lot more buzz, with the company viewed as the most direct rival to Tesla in China. Gross margins stood at 19.5% in Q1 2021, up from a negative 12% a year ago.\nXpeng trades at about 10x projected 2021 revenues. Sales growth is projected to be the strongest among the three companies, rising by over 150% this year, per consensus estimates. Besides its higher projected growth, investors have been assigning a premium to the company due to its progress in the autonomous driving space. Xpeng currently sells the G3 SUV and the P7 sedan and its new P5 compact sedan is likely to hit the roads later this year. Although Xpeng’s gross margins have improved, rising to about 11% over Q1, versus negative levels a year ago, they are still below Nio’s margins.\nLi Auto trades at just 6x projected 2021 revenues, the lowest of the three companies. Revenues are likely to roughly double this year, with gross margins standing at 17.5% as of Q4 2020 (the company has yet to report Q1 results). The lower valuation is likely due to the company’s focus on a single product - the Li Xiang ONE, an electric SUV that also has a small gasoline engine and also due to the fact that Li Auto is behind rivals in terms of autonomous driving tech.\n[10/30/2020] How Do Nio, Xpeng, and Li Auto Compare\nThe Chinese electric vehicle space is booming, with China-based manufacturers accounting for over 50% of global EV deliveries. Demand for EVs in China is likely to remain robust as the Chinese government wants about 25% of all new cars sold in the country to be electric by 2025, up from roughly 5% at present.[1]While Tesla is a leader in the Chinese luxury EV market driven by production at its new Shanghai facility, Nio, Xpeng (NYSE: XPEV), and Li Auto (NASDAQ: LI) - three relatively young U.S. listed Chinese electric vehicle players, have also been gaining traction. In our analysisNio, Xpeng & Li Auto: How Do Chinese EV Stocks Compare?we compare the financial performance and valuation of the major U.S. listed Chinese electric vehicle players. Parts of the analysis are summarized below.\nOverview Of Nio, Li Auto & Xpeng’s Business\nNio, which was founded in 2014, currently offers three premium electric SUVs, ES8, ES6, and EC6, which are priced starting at about $50k. The company is working on developing self-driving technology and also offers other unique innovations such as Battery as a Service (BaaS) - which allows customers to subscribe for car batteries, rather than paying for them upfront. While the company has scaled up production, it hasn’t come without challenges, as it recalled about 5,000 vehicles last year after reports of multiple fires.\nLi Auto sells Extended-Range Electric Vehicles, which are essentially EVs that also have a small gasoline engine that can generate additional electric power for the battery. This reduces the need for EV-charging infrastructure, which is currently limited in China. The company’s hybrid strategy appears to be paying off - with its Li ONE SUV, which is priced at about $46,000 - ranking as the top-selling SUV in the new energy vehicle segment in China in September 2020. The new energy segment includes fuel cell, electric, and plug-in hybrid vehicles.\nXpeng produces and sells premium electric vehicles including the G3 SUV and the P7 four-door sedan, which are roughly positioned as rivals to Tesla’s Model Y SUV and Model 3 sedan, although they are more affordable, with the basic version of the G3 starting at about $22,000 post subsidies. The G3 SUV was among the top 3 Electric SUVs in terms of sales in China in 2019. While the company began production in late 2018, initially via a deal with an established automaker, it has started production at its own factory in the Guangdong province.\nHow Have The Deliveries, Revenues & Margins Trended\nNio delivered about 21k vehicles in 2019, up from about 11k vehicles in 2018. This compares to Xpeng which delivered about 13k vehicles in 2019 and Li Auto which delivered about 1k vehicles, considering that it began production only late last year. While Nio’s deliveries this year could approach about 40k units, Li Auto and Xpeng are likely to deliver around 25k vehicles with Li Auto seeing the highest growth. Over 2019, Nio’s Revenues stood at $1.1 billion, compared to about $40 million for Li Auto and $330 million for Xpeng. Nio’s Revenues are likely to grow 95% this year, while Xpeng’s Revenues are likely to grow by about 120%. All three companies remain deeply lossmaking as costs related to R&D and SG&A remain high relative to Revenues. Nio’s Net Margins stood at -195% in 2019, Li Auto’s margins stood at about -860% while Xpeng’s margins stood at -160%. However, margins are likely to improve sharply in 2020, as volumes pick up.\nValuation\nNio’s Market Cap stood at about $37 billion as of October 28, 2020, with its stock price rising by about 7x year-to-date due to surging investor interest in EV stocks. Li Auto and Xpeng, which were both listed in the U.S. around August as they looked to capitalize on surging valuations, have a market cap of about $15 billion and $14 billion, respectively. On a relative basis, Nio trades at about 15x projected 2020 Revenues, Li Auto trades at about 12x, while Xpeng trades at about 20x.\nWhile valuations are certainly high, investors are likely betting that these companies will continue to grow in the domestic market, while eventually playing a larger role in the global EV space leveraging China’s relatively low-cost manufacturing, and the country’s ecosystem of battery and auto parts suppliers. Of the three companies, Nio might be the safer bet, considering its slightly longer track record, higher Revenues, and investments in technology such as battery swaps and self-driving. Li Auto also looks attractive considering its rapid growth - driven by the uptake of its hybrid powertrains - and relatively attractive valuation of about 12x 2020 Revenues.\nElectric vehicles are the future of transportation, but picking the right EV stocks can be tricky. Investing inElectric Vehicle Component Supplier Stockscan be a good alternative to play the growth in the EV market.","news_type":1},"isVote":1,"tweetType":1,"viewCount":268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120784446,"gmtCreate":1624337772185,"gmtModify":1703833887135,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Onwards","listText":"Onwards","text":"Onwards","images":[{"img":"https://static.tigerbbs.com/92fd29fbe321fa917d6c124e08f2ec0e","width":"750","height":"2181"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120784446","isVote":1,"tweetType":1,"viewCount":268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":167067867,"gmtCreate":1624239956359,"gmtModify":1703831244134,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Watch this space?","listText":"Watch this space?","text":"Watch this space?","images":[{"img":"https://static.tigerbbs.com/88d0bc71a487e377b1c60c860142963f","width":"750","height":"2072"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167067867","isVote":1,"tweetType":1,"viewCount":197,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":161210387,"gmtCreate":1623928129549,"gmtModify":1703823706483,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"With such shareholder valuation, won’t it give themgmt more war chest to pursue greater initiatives?","listText":"With such shareholder valuation, won’t it give themgmt more war chest to pursue greater initiatives?","text":"With such shareholder valuation, won’t it give themgmt more war chest to pursue greater initiatives?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/161210387","repostId":"2143979397","repostType":4,"repost":{"id":"2143979397","pubTimestamp":1623921600,"share":"https://ttm.financial/m/news/2143979397?lang=&edition=fundamental","pubTime":"2021-06-17 17:20","market":"us","language":"en","title":"1 Stock to Avoid No Matter What","url":"https://stock-news.laohu8.com/highlight/detail?id=2143979397","media":"Motley Fool","summary":"This company faces an uphill climb to turning things around.","content":"<p><b>GameStop</b> (NYSE:GME) has certainly had a wild ride this year. If you owned the stock coming into 2021, it was a lot of fun watching the per-share price go from about $17 to the current $212.</p>\n<p>But you shouldn't get lulled into buying the hype surrounding this meme stock. The run was partly fueled by a Reddit group, which promoted the stock and also created a short squeeze that led the price higher. That makes for great headlines, but there are strong reasons to avoid getting pulled in.</p>\n<h2>Trying to transition</h2>\n<p>GameStop, which sells video game consoles and software, was already experiencing weakening sales heading into 2020. Same-store sales (comps) fell by 19.4% in 2019, following that up with a 9.5% drop last year.</p>\n<p>While the company was experiencing strong sales growth for a long time, the last few years have been rough. It posted negative comps in four out of the last five years. That's due in no small part to a world that is changing, and people can increasingly download games from a variety of reputable companies such as Epic Games, Steam, <b> Microsoft</b>, and <b> Sony</b>.</p>\n<p>A major investor saw an opportunity to turn around GameStop's fortunes. RC Ventures, headed by Ryan Cohen, founder of the online company <b>Chewy</b>, built a 13% ownership in the company. He is now chairman of GameStop and has made key management changes, including hiring a new CEO and CFO who previously worked for <b>Amazon</b>.</p>\n<p>Clearly, Cohen has committed his financial resources and time to making GameStop successful. While he built up impressive credentials at Chewy, which PetSmart bought for $3.4 billion (and still owns a majority stake in despite taking the company public), can he work his magic this time around?</p>\n<h2>Don't get fooled</h2>\n<p>It's a tough road to get GameStop moving in the right direction. Management didn't provide a comparable sales figure, but the fiscal first quarter's top line did increase by better than 25% to $1.3 billion for the period ended on May 1. But you shouldn't get overly excited by this impressive headline figure.</p>\n<p>It is difficult to make year-over-year comparisons since the company cut its store base by 12%. While this would make the sales growth seem more impressive, remember, GameStop was forced to close stores last year due to the pandemic. So this depressed the year-ago figure. Then, the current period benefited from Sony and Microsoft releasing new game consoles last year. This will prove to be a temporary lift since it's a <a href=\"https://laohu8.com/S/AONE\">one</a>-time purchase.</p>\n<p>The company will need to follow this up with improved game sales. However, software sales were down during the period. While the company blamed this on lower used game inventory, it has gotten a boost in the past when companies released new systems. This suggests that GameStop's hope for a multi-year bounce from the new systems is already facing hurdles.</p>\n<h2>Details lacking</h2>\n<p>While the new management team has online e-commerce experience, details on a plan forward remain lacking. Undoubtedly, that is coming as the executives meet and figure out where they want to go. However, with stiff online competition, it is tough to invest in the company without knowing how it will turn itself around and get sales back to sustained profitability.</p>\n<p>That's why you should leave GameStop's shares on the shelf.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>1 Stock to Avoid No Matter What</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\">\n1 Stock to Avoid No Matter What\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-17 17:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/16/1-stock-to-avoid-no-matter-what-gamestop/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>GameStop (NYSE:GME) has certainly had a wild ride this year. If you owned the stock coming into 2021, it was a lot of fun watching the per-share price go from about $17 to the current $212.\nBut you ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/16/1-stock-to-avoid-no-matter-what-gamestop/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.fool.com/investing/2021/06/16/1-stock-to-avoid-no-matter-what-gamestop/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143979397","content_text":"GameStop (NYSE:GME) has certainly had a wild ride this year. If you owned the stock coming into 2021, it was a lot of fun watching the per-share price go from about $17 to the current $212.\nBut you shouldn't get lulled into buying the hype surrounding this meme stock. The run was partly fueled by a Reddit group, which promoted the stock and also created a short squeeze that led the price higher. That makes for great headlines, but there are strong reasons to avoid getting pulled in.\nTrying to transition\nGameStop, which sells video game consoles and software, was already experiencing weakening sales heading into 2020. Same-store sales (comps) fell by 19.4% in 2019, following that up with a 9.5% drop last year.\nWhile the company was experiencing strong sales growth for a long time, the last few years have been rough. It posted negative comps in four out of the last five years. That's due in no small part to a world that is changing, and people can increasingly download games from a variety of reputable companies such as Epic Games, Steam,  Microsoft, and  Sony.\nA major investor saw an opportunity to turn around GameStop's fortunes. RC Ventures, headed by Ryan Cohen, founder of the online company Chewy, built a 13% ownership in the company. He is now chairman of GameStop and has made key management changes, including hiring a new CEO and CFO who previously worked for Amazon.\nClearly, Cohen has committed his financial resources and time to making GameStop successful. While he built up impressive credentials at Chewy, which PetSmart bought for $3.4 billion (and still owns a majority stake in despite taking the company public), can he work his magic this time around?\nDon't get fooled\nIt's a tough road to get GameStop moving in the right direction. Management didn't provide a comparable sales figure, but the fiscal first quarter's top line did increase by better than 25% to $1.3 billion for the period ended on May 1. But you shouldn't get overly excited by this impressive headline figure.\nIt is difficult to make year-over-year comparisons since the company cut its store base by 12%. While this would make the sales growth seem more impressive, remember, GameStop was forced to close stores last year due to the pandemic. So this depressed the year-ago figure. Then, the current period benefited from Sony and Microsoft releasing new game consoles last year. This will prove to be a temporary lift since it's a one-time purchase.\nThe company will need to follow this up with improved game sales. However, software sales were down during the period. While the company blamed this on lower used game inventory, it has gotten a boost in the past when companies released new systems. This suggests that GameStop's hope for a multi-year bounce from the new systems is already facing hurdles.\nDetails lacking\nWhile the new management team has online e-commerce experience, details on a plan forward remain lacking. Undoubtedly, that is coming as the executives meet and figure out where they want to go. However, with stiff online competition, it is tough to invest in the company without knowing how it will turn itself around and get sales back to sustained profitability.\nThat's why you should leave GameStop's shares on the shelf.","news_type":1},"isVote":1,"tweetType":1,"viewCount":199,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108599448,"gmtCreate":1620037712484,"gmtModify":1704337689749,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"It can only go uppp","listText":"It can only go uppp","text":"It can only go uppp","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/108599448","repostId":"1135819410","repostType":4,"repost":{"id":"1135819410","pubTimestamp":1619999342,"share":"https://ttm.financial/m/news/1135819410?lang=&edition=fundamental","pubTime":"2021-05-03 07:49","market":"us","language":"en","title":"Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1135819410","media":"Barrons","summary":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their fi","content":"<p>It’s another packed week of earnings reports, with 130 S&amp;P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday:&nbsp;Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.</p><p>On Wednesday,&nbsp;Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings.&nbsp;Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on&nbsp;Friday.</p><p><img src=\"https://static.tigerbbs.com/e1a866fbe5118566e68842053d76e2b9\" tg-width=\"1382\" tg-height=\"750\"></p><p>On the economic calendar this week, the&nbsp;main event will jobs Friday.&nbsp;The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.</p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its&nbsp;Services equivalent on Wednesday.</p><p>Enterprise Products Partners&nbsp;and Estée Lauder release earnings.</p><p>Merck and&nbsp;Public Storage&nbsp;hold virtual investor days.</p><p><b>The Census Bureau</b>&nbsp;reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.</p><p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.</p><p><b>Tuesday 5/4</b></p><p>Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.</p><p>Eli Lilly&nbsp;holds a conference call to discuss its sustainability initiatives.</p><p>Union Pacific&nbsp;holds its 2021 virtual investor day.</p><p><b>Wednesday 5/5</b></p><p>Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.</p><p><b>ADP releases</b>&nbsp;its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.</p><p><b>ISM releases</b>&nbsp;its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.</p><p><b>Thursday 5/6</b></p><p>Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and&nbsp;Zoetishold conference calls to discuss quarterly results.</p><p><b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.</p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.</p><p><b>Friday 5/7</b></p><p><b>The Bureau of Labor</b>&nbsp;Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.</p><p>Cigna and&nbsp;<b>Liberty Media</b>&nbsp;report earnings.</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>Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week</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\">\nUber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-03 07:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: ...</p>\n\n<a href=\"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","PFE":"辉瑞","GM":"通用汽车",".SPX":"S&P 500 Index","TMUS":"T-Mobile US Inc",".DJI":"道琼斯","PYPL":"PayPal","UBER":"优步"},"source_url":"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135819410","content_text":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.On Wednesday, Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings. Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on Friday.On the economic calendar this week, the main event will jobs Friday. The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its Services equivalent on Wednesday.Enterprise Products Partners and Estée Lauder release earnings.Merck and Public Storage hold virtual investor days.The Census Bureau reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.Tuesday 5/4Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.Eli Lilly holds a conference call to discuss its sustainability initiatives.Union Pacific holds its 2021 virtual investor day.Wednesday 5/5Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.ADP releases its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.ISM releases its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.Thursday 5/6Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and Zoetishold conference calls to discuss quarterly results.The Department of Labor reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.The Bureau of Labor Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.Friday 5/7The Bureau of Labor Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.Cigna and Liberty Media report earnings.","news_type":1},"isVote":1,"tweetType":1,"viewCount":306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103525775,"gmtCreate":1619794817297,"gmtModify":1704272527667,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"One step at a time","listText":"One step at a time","text":"One step at a time","images":[{"img":"https://static.tigerbbs.com/3799b0172e613f11a1c3986f6e0c4f07","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103525775","isVote":1,"tweetType":1,"viewCount":230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":375848927,"gmtCreate":1619327088069,"gmtModify":1704722508956,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Exciting week as always-&nbsp;Please like!","listText":"Exciting week as always-&nbsp;Please like!","text":"Exciting week as always- Please like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375848927","repostId":"1184404050","repostType":4,"repost":{"id":"1184404050","pubTimestamp":1619319329,"share":"https://ttm.financial/m/news/1184404050?lang=&edition=fundamental","pubTime":"2021-04-25 10:55","market":"us","language":"en","title":"What to watch in the markets this week","url":"https://stock-news.laohu8.com/highlight/detail?id=1184404050","media":"CNBC","summary":"The last week of April will be extremely busy for markets with a third of the S&P 500 reporting earnings, a Federal Reserve meeting, and new spending and tax proposals from the White House.Big Tech is a highlight of the earnings calendar, with Apple, Microsoft, Amazon, Facebook and Alphabet all releasing results.The Fed is not expected to take any action, but economists expect it to defend its policy to let inflation run hot.There is some key data including first-quarter gross domestic product a","content":"<div>\n<p>KEY POINTSThe last week of April will be extremely busy for markets with a third of the S&P 500 reporting earnings, a Federal Reserve meeting, and new spending and tax proposals from the White House....</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/taxes-and-inflation-will-be-key-themes-for-markets-in-the-week-ahead.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What to watch in the markets this week</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; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat to watch in the markets this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-25 10:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/taxes-and-inflation-will-be-key-themes-for-markets-in-the-week-ahead.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSThe last week of April will be extremely busy for markets with a third of the S&P 500 reporting earnings, a Federal Reserve meeting, and new spending and tax proposals from the White House....</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/taxes-and-inflation-will-be-key-themes-for-markets-in-the-week-ahead.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","GOOGL":"谷歌A",".DJI":"道琼斯","GOOG":"谷歌","TSLA":"特斯拉","AAPL":"苹果",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/04/23/taxes-and-inflation-will-be-key-themes-for-markets-in-the-week-ahead.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1184404050","content_text":"KEY POINTSThe last week of April will be extremely busy for markets with a third of the S&P 500 reporting earnings, a Federal Reserve meeting, and new spending and tax proposals from the White House.Big Tech is a highlight of the earnings calendar, with Apple, Microsoft, Amazon, Facebook and Alphabet all releasing results.The Fed is not expected to take any action, but economists expect it to defend its policy to let inflation run hot.There is some key data including first-quarter gross domestic product and the Fed’s favorite inflation measure: the personal consumption expenditures deflator.The final week of April is going to be a busy one for markets with a Federal Reserve meeting and a deluge of earnings news.Hot topics in markets will continue to be inflation and taxes.President Joe Biden is expected to detail his “American Families Plan” and the tax increases to pay for it, including a much higher capital gains tax for the wealthy.The plan is the second part of his Build Back Better agenda and will include new spending proposals aimed at helping families. The president addresses a joint session of Congress Wednesday evening.It’s a huge week for earnings with about a third of the S&P 500 reporting, including Big Tech names, such as Apple,Microsoft,Alphabet and Amazon.As many have already done, firms like Boeing, Ford,Caterpillar and McDonald’s, are likely to detail cost pressures they are facing from rising materials and transportation costs and supply chain disruptions.At the same time, the Fed is expected to defend its policy of letting inflation run hot, while assuring markets it sees the pick-up in prices as only temporary. The central bank meets on Tuesday and Wednesday.The central bank takes the main stage“I think the Fed would like not to be a feature next week, but the Fed will be forced from the background because of concerns about inflation,” said Diane Swonk, chief economist at Grant Thornton.The central bank is not expected to make any policy moves, but Fed Chairman Jerome Powell’s press briefing following the meeting Wednesday will be closely watched.So far, the barrage of earnings news has been positive, with 86% of companies reporting earnings beats. Corporate profits are expected to be up about 33.9% for the first quarter, based on estimates and actual reports, according to Refinitiv. Revenues are about 9.9% higher.There is important inflation data Friday when the Fed’s preferred inflation gauge is reported.The personal consumption expenditure report is expected to show a 1.8% rise in core inflation, still below the Fed’s target of 2%. Other data releases include the first-quarter gross domestic product on Thursday, which is expected to have grown by 6.5%, according to Dow Jones.“I think the Fed has no urgency to shift monetary policy at this point,” said Ian Lyngen, head of U.S. rates strategy at BMO. “The Fed needs to acknowledge that the data is improving. We had a strong first quarter.”“The Fed needs to acknowledge that but at the same time they’re keeping extremely accommodative policy in place, so they’ll have to make a note to the fact that the easy policy is warranted,” he said.Lyngen said the Fed will likely point to continued concerns about the pandemic globally as a potential risk to the economic recovery.Powell is also expected to once more explain that the Fed will let inflation rise above its 2% target for a period of time before it raises rates so that the economy can have more time to heal. “It’s going to be a challenge for the Fed,” said Swonk.The base effects for the next several months will make inflation appear to have jumped sharply because of the comparison to a weak period last year. The consumer price index for April could be above 3%, compared to 2.6% last month, Swonk added.“The Fed is trying to let a lot more people get out onto the dance floor before it calls ‘last call,’” she said. “Really what Powell has been saying since day one is if we take care of people on the margins and bring them back into the labor force, the rest will take care of itself.”Stocks were slightly lower in the past week, and Treasury yields held at lower levels. The 10-year yield,which moves opposite price, was at 1.55% Friday.The S&P 500was down 0.1%, ending the week at 4,180, while Nasdaq Composite was down nearly 0.3% at 14,016. The Dow was off just shy of 0.5% at 34,043.Tax hike prospectsStocks were hit hard on Thursday when after a news report said that Biden is expected to propose a capital gains tax rate of 39.6% for people earning more than $1 million a year.Combined with the 3.8% net investment income tax, the new levy would more than double the long term capital gains rate of 20% or the richest Americans.Strategists said Biden is expected to propose raising the income tax rate for those earning more than $400,000.“I think a lot of people are starting to price in the risk there going to be a significant increase in both corporate and capital gains taxes,” said Lyngen.So far, companies have not provided much in the way of commentary on the proposed hike in corporate taxes to 28% from 21% but they have been talking about other costs.David Bianco, chief investment strategist for the Americas at DWS, said he expects larger companies will do better dealing with supply chain constraints than smaller ones. Big Tech is also likely to fare better during the semiconductor shortage than auto makers, which have already announced production shutdowns, he said.“Next week is tech week. I think we’re going to get down on our knees and just be in awe of their business models and their ability to grow at a behemoth scale,” Bianco said.He said he’s not in favor of Wall Street’s popular trade into cyclicals and out of growth. He still favors growth.“We’re overweight equities really because we’re concerned about rising interest rates,” Bianco said. “I’m not bullish in that I expect the market to rise that much from here.”“We stuck with growth and dug deeper into bond substitutes, utilities, staples, real estate,” he said, adding he is underweight industrials, energy and materials. “Energy is doomed. It’s being nationalized via regulation. I do like industrials, they are well-run companies, but I do think infrastructure spending expectations for classic infrastructure are too high.”He also said industrials are good businesses, but the stocks have become overvalued.Bianco said he likes big box stores, but smaller retailers are facing big challenges that were already impacting them prior to Covid. He also finds small biotech firms attractive.“I like healthcare stocks. Those valuations are reasonable. People have been paranoid about politicians beating on them since 1992. They manage through it and lately they’ve been delivering,” he said.Week ahead calendarMondayEarnings:Tesla,Canadian National Railway, Canon,Check Point Software,Otis Worldwide, Vale,Ameriprise,NXP Semiconductor,Albertsons, Royal Phillips8:30 a.m. Durable goodsTuesdayFOMC begins two day meetingEarnings:Microsoft,Alphabet,Visa,Amgen,Advanced Micro Devices,3M,General Electric,Eli Lilly, Hasbro,United Parcel Service,BP,Novartis,JetBlue,Pultegroup,Archer Daniels Midland,Waste Management,Starbucks,Texas Instrument,Chubb,Mondelez,FireEye,Corning,Raytheon9:00 a.m. S&P/Case-Shiller9:00 a.m. FHFA home prices10:00 a.m. Consumer confidence10:00 a.m. Housing vacanciesWednesdayEarnings:Apple, Boeing,Facebook,Qualcomm,Ford,MGM Resorts,Humana,Norfolk Southern,General Dynamics,Boston Scientific, eBay, Samsung Electronics, GlaxoSmithKline,Yum Brands, SiriusXM, Aflac,Cheesecake Factory,Community Health System,CIT Group,Entergy,CME Group,Hess,Ryder System8:30 a.m. Advance economic indicators2:00 p.m. Fed statement2:30 p.m. Fed Chairman Jerome Powell briefingThursdayEarnings:Amazon,Caterpillar,McDonald’s,Twitter,Bristol-Myers Squibb,Comcast,Merck,Northrop Grumman, Airbus,Kraft Heinz,Intercontinental Exchange,Mastercard,Gilead Sciences,U.S. Steel, Cirrus Logic,Texas Roadhouse, Cabot Oil, PG&E,Royal Dutch Shell,Church & Dwight, Carlyle Group,Southern Co.8:30 a.m. Initial jobless claims8:30 a.m. Real GDP Q110:00 a.m. Pending home salesFridayEarnings:ExxonMobil,Chevron,Colgate-Palmolive,AstraZeneca,Clorox,Barclays, AbbVie, BNP Paribas,Weyerhaeuser,Illinois Tool Works, CBOE Global Markets, Lazard,Newell Brands,Aon,LyondellBasell,Pitney Bowes,Phillips 66,Charter Communications8:30 a.m. Personal income and spending8:30 a.m. Employment cost index Q19:45 a.m. Chicago PMI10:00 a.m. Consumer sentimentSaturdayEarnings:Berkshire Hathaway","news_type":1},"isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372917151,"gmtCreate":1619168022973,"gmtModify":1704720683046,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"This made it to tiger !","listText":"This made it to tiger !","text":"This made it to tiger !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372917151","repostId":"1143062408","repostType":4,"repost":{"id":"1143062408","pubTimestamp":1619162341,"share":"https://ttm.financial/m/news/1143062408?lang=&edition=fundamental","pubTime":"2021-04-23 15:19","market":"sg","language":"en","title":"Singapore Names Wong as New Finance Minister in Cabinet Shake-Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1143062408","media":"Bloomberg","summary":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his ","content":"<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.</p>\n<p>The appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.</p>\n<p>Since founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.</p>\n<p>Though no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the&nbsp;deputy prime minister role&nbsp;to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.</p>\n<p><b>Covid Leadership</b></p>\n<p>Wong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.</p>\n<p>“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.</p>\n<p>Known for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.</p>\n<p>Before his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.</p>\n<p>Wong began his career as a civil servant, later serving as chief executive of the&nbsp;Energy Market Authority&nbsp;and as principal private secretary to Lee.</p>\n<p>Here are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:</p>\n<ul>\n <li>Gan Kim Yong will be trade and industry minister</li>\n <li>S. Iswaran will be transport minister</li>\n <li>Chan Chun Sing will be education minister</li>\n <li>Ong Ye Kung will be health minister</li>\n <li>Josephine Teo will be communications and information minister, and continue as second minister for home affairs</li>\n <li>Tan See Leng will be manpower minister</li>\n</ul>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Names Wong as New Finance Minister in Cabinet Shake-Up</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Names Wong as New Finance Minister in Cabinet Shake-Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 15:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143062408","content_text":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.\nSince founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.\nThough no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the deputy prime minister role to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.\nCovid Leadership\nWong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.\n“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.\nKnown for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.\nBefore his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.\nWong began his career as a civil servant, later serving as chief executive of the Energy Market Authority and as principal private secretary to Lee.\nHere are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:\n\nGan Kim Yong will be trade and industry minister\nS. Iswaran will be transport minister\nChan Chun Sing will be education minister\nOng Ye Kung will be health minister\nJosephine Teo will be communications and information minister, and continue as second minister for home affairs\nTan See Leng will be manpower minister","news_type":1},"isVote":1,"tweetType":1,"viewCount":259,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348575067,"gmtCreate":1617946935159,"gmtModify":1704705171521,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Watch inflation","listText":"Watch inflation","text":"Watch inflation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/348575067","repostId":"1147517160","repostType":4,"repost":{"id":"1147517160","pubTimestamp":1617942022,"share":"https://ttm.financial/m/news/1147517160?lang=&edition=fundamental","pubTime":"2021-04-09 12:20","market":"us","language":"en","title":"\"Boom Or Bust For The Economy & Markets\" - JPM Previews The Next 100 Days For Biden","url":"https://stock-news.laohu8.com/highlight/detail?id=1147517160","media":"zerohedge","summary":"On April 7, 2021, JPMorgan hosted two sessions as part of the J.P. Morgan Virtual Investor Seminar a","content":"<p>On April 7, 2021, JPMorgan hosted two sessions as part of the J.P. Morgan Virtual Investor Seminar at the time of the 2021 IMF/WB Spring Meetings featuring external speakers and J.P. Morgan’s Policy Center, Federal Government Relations and Global Research team to discuss the priorities for the Biden administration for the next 100 days and the macro and market implications.</p><p><i>What follows is a summary of the top 10 takeaways of the ideas presented during the seminar by JPMorgan analysts, strategists and economists</i>, as summarized by JPM itself.</p><p><b>1、US growth is entering a boom period with positive spillovers.</b>J.P. Morgan’s Economics Research team estimates US growth will reach 9.5% in 2Q and 8.3% in 3Q before trending down to 6.3% for the year as a whole. Positive spillovers from US imports and a boom of the US economy from financial markets is a positive for the rest of the world, notwithstanding rising interest rates and possibly upward pressure on the dollar. Although vaccine distribution has been uneven across the world, the impending tidal wave of vaccine supply due to a ramp up in production in the next 3-6 months should improve prospects for growth in the rest of the world.</p><p><b>2、The recovery from the pandemic is vastly different from the scarring that took place after the 2008-2009 Global Financial Crisis (GFC) as both the US and China will close the output gap and will likely to be operating above full employment by the end of 2022.</b></p><p>J.P. Morgan’s Economics Research team sees the US unemployment rate reaching 4.5% by year end which is vastly different to a similar point after the GFC where US unemployment was around 9.5%. This time around, the Fed and other central banks will likely remain firmly on hold in raising rates. Another important difference is that the US does not have an overhang of spending and durables, particularly in housing like in the GFC. Instead, there is tailwind from the improvement in household balance sheets where excess savings has been building up. However, emerging markets will bear the brunt of the scarring. Slow vaccination rates and limited fiscal space place EM (ex-China) around 4% below its pre-pandemic growth path.</p><p><b>3、The staggered global economic recovery – led by China last year, moving to the US now, with Europe to come later this year – supports the market recovery and risky assets will continue to benefit.</b></p><p>The scenario for the global environment remains favorable for risky assets backed by above-trend global GDP growth, continued policy support and progress on vaccination and re-opening of economies. It is a blessing in disguise that the global recovery is not synchronized as the staggered rally has prevented broad-based asset bubbles.<b>A synchronized recovery could have meant a likely overshooting of US treasury yields which would have negative implications for valuations of risky asset classes, specifically for equity multiples.</b></p><p>Positioning in risky assets remains below average in a historical context as markets are coming off a record year in market volatility with the VIX recording its highest level in March 2020 that caused broad de-risking across markets. J.P. Morgan’s Equity Strategy Research team expects volatility to decline this year which will contribute to systematic investors’ overall positioning moving higher not just in equity but in other risky assets such as commodities and emerging markets. We continue to favor cyclical sectors and believe that the energy sector remains attractive. While there is a lot of talk about asset bubbles, it is hard to see one in the broad equity market, but certain segments that have more than tripled in price over a short period of time are likely experiencing bubbles, such as innovative ESG&nbsp; sectors like clean energy, solar energy and Electric Vehicles, along with crypto assets and SPACs.</p><p><b>4、Fear of rising inflation is here to stay and the run rate for headline inflation will increase, but delivered inflation continues to lag, and we do not see a regime shift in actual inflation performance.</b></p><p>While markets could continue to test the Fed’s resolve, the messaging will remain clear that the Fed will tolerate an inflation overshoot, and its guidance for liftoff, rate normalization is likely off the table at least through 2022. We have not changed our forecast that the first Fed hike will not occur until early 2024. The recent pickup in headline inflation rates were due largely to jumps in energy prices. While business surveys could signal higher inflation to come, the relationship between the survey price data and future inflation changes generally has been weak.</p><p><b>5、The Biden administration will remain focused on super charging the economy before mid-term elections in 2022 with further spending to be pursued, with passage of the infrastructure bill likely to occur by end-September using budget reconciliation even if tax increases are not approved.</b></p><p>Democrats’ ability to control the Senate and the composition of the House could flip in 2022, and they are looking to take advantage of the current wave of support generated after the passing of the latest stimulus package and rapidly expanding vaccine eligibility to go as big as they can on an infrastructure package. Republicans are also feeling more confident in their standing as picking up seats in the House was unexpected. The outlook for the Senate is more uncertain due to the three pending retirements of Republican senators Roy Blunt (Missouri), Rob Portman (Ohio) and Pat Toomey&nbsp; (Pennsylvania). While Speaker of the House Nancy Pelosi has stated that she would like to see passage of the infrastructure package before the August recess, the hard deadline is likely mid-to-late September. This coincides with the September expiration of the surface transportation legislation known as the FAST Act, as well as the expiration of expanded unemployment benefits from the American Rescue Plan and the July 31 debt ceiling, which all act as deadlines for Congressional action.</p><p><b>6、The recent ruling by the US Senate’s parliamentarian to budget reconciliation procedures have the potential to be a “revolution” in the Senate.</b></p><p>The budget reconciliation process allows for a bill to pass Congress with only 51 votes in the Senate, or 50 votes with the vice president casting the tie-breaking vote. The new ruling means that budget reconciliation is no longer limited to one vote within the fiscal year as revisions of prior budget measures can be proposed, with no limit on the number of revisions.</p><p><b>The implications of this ruling could mean that Democrats could try and pass much of the infrastructure bill, especially the parts pertaining to social equity, through budget reconciliation.</b>(However, Democratic Senators, such as Joe Manchin, have expressed their reservations on using budget reconciliation again this year.)</p><p><b>7、The possibility of gaining approval to raise the corporate tax rate to 28% is highly unlikely to pass with an increase in the 22-24% range more likely.</b></p><p>During the Trump administration, the corporate tax rate in the US was reduced from 35% to the current rate of 21%. The Biden administration has proposed raising the corporate tax rate to 28% and increase the international minimum tax rate that US companies pay on their foreign profits to 21%. The debate on corporate taxes is not a binary choice between 21% vs. 28%. Speakers cautioned that the US corporate tax rate needs to remain globally competitive and that the relative rate is what matters. Including the average 5% tax rate at the state-level raises the US corporate tax to 26%, which is “in the middle of the pack” as the average corporate tax rate for an OECD country is 24%.</p><p><b>If the US corporate tax is raised to 28%, it effectively increases to 33% including state taxes, which is a higher rate than China or Scandinavian countries.</b>This week, Treasury Secretary Yellen made the case for a global minimum corporate tax to address the global competitiveness issue and “avoid a race to the bottom.” The discussion on tax increases is separate from proposals to increase spending. There is no decision about how much of the infrastructure proposal needs to be paid for, or with what specific tax policy change. Nor is there a unified tax agenda and taxes will likely only be raised as much as they need to be raised. Wealth taxes are unlikely to be approved. A reversal of the state and local tax (SALT) cap, which currently hits high income earners the most, will not only be optically unappealing, it is expensive to replace and its expiration date at the end of 2025 makes it less open to debate than other measures. With slim majorities in the Senate and House, Democrats cannot afford to lose a single vote in the Senate and 3-4 votes in the House (though the House number changes daily) and many Democrats will still be hesitant to raise taxes before the 2022 election, when control of both the House and Senate is in play.</p><p><b>8、Markets will remain focused on the risk of a disorderly rise is US bond yields as the projected $3.8trn budget deficit will require $3trn in net new US Treasury supply with ongoing concerns on whether flows will be absorbed smoothly.</b></p><p>We look for higher yields and a steeper curve beyond the 2-year point, and our US Treasury team forecasts the 10-year yield at 1.95% at year-end. Bearish positions are focused on the 7- and 20-year points on the curve that have lacked sponsorship. Discussions on implications of the expiration of the supplementary leverage ratio (SLR) carve-out are ongoing but unresolved, with some calls by former Fed officials to at least exempt the incremental reserves that have accumulated since it began its latest securities purchase program in March 2020 as GSIB banks are among the largest buyers of US Treasuries.</p><p><b>9、Credit markets have been immune to higher rates, equity and commodities volatility in large part due to positive technicals.</b></p><p>While investors remain undecided between whether or not reflation will prove orderly or disorderly, issuance trends seem to reflect a much stronger statement by companies on credit market conditions going forward. Credit markets have been supported by the macroeconomic ‘sugar rush’ associated with the new Biden administration’s spending plans, and US Treasury yields have duly reacted to the specter of inflation. This debate might be entering a new phase, however. The new executive is set to unveil a program of tax increases to pay for its $2trn infrastructure spending plans, which might influence expectations of how quickly said sugar rush might fade. However, the stickiness of secondary market spreads continues to reflect underlying positioning, which does not appear excessively levered or complex. All-in funding costs have likely bottomed and companies are refinancing ‒ especially in loans ‒ and companies unencumbering assets pledged as part of rescue-financing packages last year.</p><p><b>10、Despite the volatility and underperformance of EM FX and local markets, which could persist with the ongoing rise in US rates, EM credit valuations are attractive.</b></p><p>EM credit valuations are attractive and cross-over and high grade investors have been gravitating to holding barbell positions in US and EM credit given attractive pickup (as much as 100bp in yield over US HY) and the low EM HY corporate default rate (JPM 2021F: 2.5%), which is expected around the levels of US HY (2.0%). EM equities haven’t appreciated much over the past decade, and rising 10-year US treasury yields has predominantly been associated with positive absolute returns for EM equities but underperformance to DM equities. Our EM equity strategists have looked back 11 years (since the GFC) and identified periods where the US 10-year yield increased by more than 50bps. During these periods, there was a median USD+3.4% EM equity gain. EM equities produced negative results in only 2 of 8 periods (25%) (See Rising US yield: more friend than foe to EM equities, Pedro Martin Junior, 7 April 2021). US-China tensions will remain in the headlines, but both the US and China have focused on domestic issues rather than each other in recent months. The Biden administration has embraced a multilateral approach to discussions with China, focusing on working with allies and international institutions, and the first meetings have included Japan, Korea and the European Union.</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>\"Boom Or Bust For The Economy & Markets\" - JPM Previews The Next 100 Days For Biden</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Boom Or Bust For The Economy & Markets\" - JPM Previews The Next 100 Days For Biden\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 12:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/boom-or-bust-economy-markets-jpm-previews-next-100-days-biden><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On April 7, 2021, JPMorgan hosted two sessions as part of the J.P. Morgan Virtual Investor Seminar at the time of the 2021 IMF/WB Spring Meetings featuring external speakers and J.P. Morgan’s Policy ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/boom-or-bust-economy-markets-jpm-previews-next-100-days-biden\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/boom-or-bust-economy-markets-jpm-previews-next-100-days-biden","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147517160","content_text":"On April 7, 2021, JPMorgan hosted two sessions as part of the J.P. Morgan Virtual Investor Seminar at the time of the 2021 IMF/WB Spring Meetings featuring external speakers and J.P. Morgan’s Policy Center, Federal Government Relations and Global Research team to discuss the priorities for the Biden administration for the next 100 days and the macro and market implications.What follows is a summary of the top 10 takeaways of the ideas presented during the seminar by JPMorgan analysts, strategists and economists, as summarized by JPM itself.1、US growth is entering a boom period with positive spillovers.J.P. Morgan’s Economics Research team estimates US growth will reach 9.5% in 2Q and 8.3% in 3Q before trending down to 6.3% for the year as a whole. Positive spillovers from US imports and a boom of the US economy from financial markets is a positive for the rest of the world, notwithstanding rising interest rates and possibly upward pressure on the dollar. Although vaccine distribution has been uneven across the world, the impending tidal wave of vaccine supply due to a ramp up in production in the next 3-6 months should improve prospects for growth in the rest of the world.2、The recovery from the pandemic is vastly different from the scarring that took place after the 2008-2009 Global Financial Crisis (GFC) as both the US and China will close the output gap and will likely to be operating above full employment by the end of 2022.J.P. Morgan’s Economics Research team sees the US unemployment rate reaching 4.5% by year end which is vastly different to a similar point after the GFC where US unemployment was around 9.5%. This time around, the Fed and other central banks will likely remain firmly on hold in raising rates. Another important difference is that the US does not have an overhang of spending and durables, particularly in housing like in the GFC. Instead, there is tailwind from the improvement in household balance sheets where excess savings has been building up. However, emerging markets will bear the brunt of the scarring. Slow vaccination rates and limited fiscal space place EM (ex-China) around 4% below its pre-pandemic growth path.3、The staggered global economic recovery – led by China last year, moving to the US now, with Europe to come later this year – supports the market recovery and risky assets will continue to benefit.The scenario for the global environment remains favorable for risky assets backed by above-trend global GDP growth, continued policy support and progress on vaccination and re-opening of economies. It is a blessing in disguise that the global recovery is not synchronized as the staggered rally has prevented broad-based asset bubbles.A synchronized recovery could have meant a likely overshooting of US treasury yields which would have negative implications for valuations of risky asset classes, specifically for equity multiples.Positioning in risky assets remains below average in a historical context as markets are coming off a record year in market volatility with the VIX recording its highest level in March 2020 that caused broad de-risking across markets. J.P. Morgan’s Equity Strategy Research team expects volatility to decline this year which will contribute to systematic investors’ overall positioning moving higher not just in equity but in other risky assets such as commodities and emerging markets. We continue to favor cyclical sectors and believe that the energy sector remains attractive. While there is a lot of talk about asset bubbles, it is hard to see one in the broad equity market, but certain segments that have more than tripled in price over a short period of time are likely experiencing bubbles, such as innovative ESG  sectors like clean energy, solar energy and Electric Vehicles, along with crypto assets and SPACs.4、Fear of rising inflation is here to stay and the run rate for headline inflation will increase, but delivered inflation continues to lag, and we do not see a regime shift in actual inflation performance.While markets could continue to test the Fed’s resolve, the messaging will remain clear that the Fed will tolerate an inflation overshoot, and its guidance for liftoff, rate normalization is likely off the table at least through 2022. We have not changed our forecast that the first Fed hike will not occur until early 2024. The recent pickup in headline inflation rates were due largely to jumps in energy prices. While business surveys could signal higher inflation to come, the relationship between the survey price data and future inflation changes generally has been weak.5、The Biden administration will remain focused on super charging the economy before mid-term elections in 2022 with further spending to be pursued, with passage of the infrastructure bill likely to occur by end-September using budget reconciliation even if tax increases are not approved.Democrats’ ability to control the Senate and the composition of the House could flip in 2022, and they are looking to take advantage of the current wave of support generated after the passing of the latest stimulus package and rapidly expanding vaccine eligibility to go as big as they can on an infrastructure package. Republicans are also feeling more confident in their standing as picking up seats in the House was unexpected. The outlook for the Senate is more uncertain due to the three pending retirements of Republican senators Roy Blunt (Missouri), Rob Portman (Ohio) and Pat Toomey  (Pennsylvania). While Speaker of the House Nancy Pelosi has stated that she would like to see passage of the infrastructure package before the August recess, the hard deadline is likely mid-to-late September. This coincides with the September expiration of the surface transportation legislation known as the FAST Act, as well as the expiration of expanded unemployment benefits from the American Rescue Plan and the July 31 debt ceiling, which all act as deadlines for Congressional action.6、The recent ruling by the US Senate’s parliamentarian to budget reconciliation procedures have the potential to be a “revolution” in the Senate.The budget reconciliation process allows for a bill to pass Congress with only 51 votes in the Senate, or 50 votes with the vice president casting the tie-breaking vote. The new ruling means that budget reconciliation is no longer limited to one vote within the fiscal year as revisions of prior budget measures can be proposed, with no limit on the number of revisions.The implications of this ruling could mean that Democrats could try and pass much of the infrastructure bill, especially the parts pertaining to social equity, through budget reconciliation.(However, Democratic Senators, such as Joe Manchin, have expressed their reservations on using budget reconciliation again this year.)7、The possibility of gaining approval to raise the corporate tax rate to 28% is highly unlikely to pass with an increase in the 22-24% range more likely.During the Trump administration, the corporate tax rate in the US was reduced from 35% to the current rate of 21%. The Biden administration has proposed raising the corporate tax rate to 28% and increase the international minimum tax rate that US companies pay on their foreign profits to 21%. The debate on corporate taxes is not a binary choice between 21% vs. 28%. Speakers cautioned that the US corporate tax rate needs to remain globally competitive and that the relative rate is what matters. Including the average 5% tax rate at the state-level raises the US corporate tax to 26%, which is “in the middle of the pack” as the average corporate tax rate for an OECD country is 24%.If the US corporate tax is raised to 28%, it effectively increases to 33% including state taxes, which is a higher rate than China or Scandinavian countries.This week, Treasury Secretary Yellen made the case for a global minimum corporate tax to address the global competitiveness issue and “avoid a race to the bottom.” The discussion on tax increases is separate from proposals to increase spending. There is no decision about how much of the infrastructure proposal needs to be paid for, or with what specific tax policy change. Nor is there a unified tax agenda and taxes will likely only be raised as much as they need to be raised. Wealth taxes are unlikely to be approved. A reversal of the state and local tax (SALT) cap, which currently hits high income earners the most, will not only be optically unappealing, it is expensive to replace and its expiration date at the end of 2025 makes it less open to debate than other measures. With slim majorities in the Senate and House, Democrats cannot afford to lose a single vote in the Senate and 3-4 votes in the House (though the House number changes daily) and many Democrats will still be hesitant to raise taxes before the 2022 election, when control of both the House and Senate is in play.8、Markets will remain focused on the risk of a disorderly rise is US bond yields as the projected $3.8trn budget deficit will require $3trn in net new US Treasury supply with ongoing concerns on whether flows will be absorbed smoothly.We look for higher yields and a steeper curve beyond the 2-year point, and our US Treasury team forecasts the 10-year yield at 1.95% at year-end. Bearish positions are focused on the 7- and 20-year points on the curve that have lacked sponsorship. Discussions on implications of the expiration of the supplementary leverage ratio (SLR) carve-out are ongoing but unresolved, with some calls by former Fed officials to at least exempt the incremental reserves that have accumulated since it began its latest securities purchase program in March 2020 as GSIB banks are among the largest buyers of US Treasuries.9、Credit markets have been immune to higher rates, equity and commodities volatility in large part due to positive technicals.While investors remain undecided between whether or not reflation will prove orderly or disorderly, issuance trends seem to reflect a much stronger statement by companies on credit market conditions going forward. Credit markets have been supported by the macroeconomic ‘sugar rush’ associated with the new Biden administration’s spending plans, and US Treasury yields have duly reacted to the specter of inflation. This debate might be entering a new phase, however. The new executive is set to unveil a program of tax increases to pay for its $2trn infrastructure spending plans, which might influence expectations of how quickly said sugar rush might fade. However, the stickiness of secondary market spreads continues to reflect underlying positioning, which does not appear excessively levered or complex. All-in funding costs have likely bottomed and companies are refinancing ‒ especially in loans ‒ and companies unencumbering assets pledged as part of rescue-financing packages last year.10、Despite the volatility and underperformance of EM FX and local markets, which could persist with the ongoing rise in US rates, EM credit valuations are attractive.EM credit valuations are attractive and cross-over and high grade investors have been gravitating to holding barbell positions in US and EM credit given attractive pickup (as much as 100bp in yield over US HY) and the low EM HY corporate default rate (JPM 2021F: 2.5%), which is expected around the levels of US HY (2.0%). EM equities haven’t appreciated much over the past decade, and rising 10-year US treasury yields has predominantly been associated with positive absolute returns for EM equities but underperformance to DM equities. Our EM equity strategists have looked back 11 years (since the GFC) and identified periods where the US 10-year yield increased by more than 50bps. During these periods, there was a median USD+3.4% EM equity gain. EM equities produced negative results in only 2 of 8 periods (25%) (See Rising US yield: more friend than foe to EM equities, Pedro Martin Junior, 7 April 2021). US-China tensions will remain in the headlines, but both the US and China have focused on domestic issues rather than each other in recent months. The Biden administration has embraced a multilateral approach to discussions with China, focusing on working with allies and international institutions, and the first meetings have included Japan, Korea and the European Union.","news_type":1},"isVote":1,"tweetType":1,"viewCount":90,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341406844,"gmtCreate":1617844498288,"gmtModify":1704703817521,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Good stuff","listText":"Good stuff","text":"Good stuff","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341406844","repostId":"1139572887","repostType":2,"repost":{"id":"1139572887","pubTimestamp":1617843226,"share":"https://ttm.financial/m/news/1139572887?lang=&edition=fundamental","pubTime":"2021-04-08 08:53","market":"us","language":"en","title":"NIO and Other Chinese EV Stocks Are Getting Crushed. Tesla’s Not Doing So Hot Either.","url":"https://stock-news.laohu8.com/highlight/detail?id=1139572887","media":"Barron's","summary":"Shares ofNIO,XPeng,andLi Autofell dramatically in Wednesday trading, adding to recent investor pain.","content":"<p>Shares ofNIO,XPeng,andLi Autofell dramatically in Wednesday trading, adding to recent investor pain. Electric vehicle stocks have been roiled by issues ranging frominterest ratechanges tomicrochip shortages. Today’s is due to a new reason.</p>\n<p>NIO (ticker: NIO) shares fell almost 7%. XPeng (XPEV) stock dropped 8%. Li Auto (LI) shares fared the worst Wednesday, dropping almost 13%.</p>\n<p>EV investors can’t use rotation out of highly valued technology stocks as an excuse, however. Recently, old economy value-oriented stocks have been outperforming tech as the global economy awakens from its Covid-induced coma. TheNasdaq Composite Indexfell only 0.1%. TheRussell 1000 Growth Indexand theS&amp;P 500both closed up about 0.2%.</p>\n<p>So what’s hurting Chinese EV stocks? Li Auto seems responsible, catalyzing the drop byannouncingplans for a $750 convertible bond offering in what amounts to a capital raise.Convertible bonds, as their name suggests, convert into common stock under certain conditions, and investors don’t like to see their existing stakes diluted with new stock. It’s the reasonmost capital raisestend to drive stock prices down for a while.</p>\n<p>A convertible bond can generate some stock selling pressure in yet another way. Convertible arbitrage traders will sell the stock of the issuer short and buy the convertible bond. That way they can lock in a relatively attractive bond yield and take the stock risk, embedded in a convertible, out of their return equation.</p>\n<p>With Wednesday’s drop, NIO, XPeng, and Li stocks are down more than 20% on average this year. U.S. EV stocks aren’t doing so hot either.Lordstown Motors(RIDE) has tumbled 41% this year, whileWorkhorse Group(WKHS) has slumped 44%, andNikolahas dropped 19%. All three of those stock have had their own issues to deal with, such asnegative research reportsandcontract losses.</p>\n<p>And evenTesla(TSLA), which is down just 4.9% in 2021, has fallen 24% since peaking in January.</p>\n<p>EV investors havedealt with a lotalready in 2021. Higher interest rates, which make financing growth more expensive and reduce the value of future cash flows, hurt EV stocks. So has the chip shortage. NIO stock, for instance, dropped after it cut delivery guidance because of a lack of chips. Now the specter of more capital raises is shaking investor confidence a little more.</p>","source":"lsy1610680873436","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>NIO and Other Chinese EV Stocks Are Getting Crushed. Tesla’s Not Doing So Hot Either.</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\">\nNIO and Other Chinese EV Stocks Are Getting Crushed. Tesla’s Not Doing So Hot Either.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 08:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/nio-and-other-chinese-ev-stocks-are-getting-crushed-teslas-not-doing-so-hot-either-51617830812?siteid=yhoof2><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares ofNIO,XPeng,andLi Autofell dramatically in Wednesday trading, adding to recent investor pain. Electric vehicle stocks have been roiled by issues ranging frominterest ratechanges tomicrochip ...</p>\n\n<a href=\"https://www.barrons.com/articles/nio-and-other-chinese-ev-stocks-are-getting-crushed-teslas-not-doing-so-hot-either-51617830812?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","NIO":"蔚来","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/nio-and-other-chinese-ev-stocks-are-getting-crushed-teslas-not-doing-so-hot-either-51617830812?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139572887","content_text":"Shares ofNIO,XPeng,andLi Autofell dramatically in Wednesday trading, adding to recent investor pain. Electric vehicle stocks have been roiled by issues ranging frominterest ratechanges tomicrochip shortages. Today’s is due to a new reason.\nNIO (ticker: NIO) shares fell almost 7%. XPeng (XPEV) stock dropped 8%. Li Auto (LI) shares fared the worst Wednesday, dropping almost 13%.\nEV investors can’t use rotation out of highly valued technology stocks as an excuse, however. Recently, old economy value-oriented stocks have been outperforming tech as the global economy awakens from its Covid-induced coma. TheNasdaq Composite Indexfell only 0.1%. TheRussell 1000 Growth Indexand theS&P 500both closed up about 0.2%.\nSo what’s hurting Chinese EV stocks? Li Auto seems responsible, catalyzing the drop byannouncingplans for a $750 convertible bond offering in what amounts to a capital raise.Convertible bonds, as their name suggests, convert into common stock under certain conditions, and investors don’t like to see their existing stakes diluted with new stock. It’s the reasonmost capital raisestend to drive stock prices down for a while.\nA convertible bond can generate some stock selling pressure in yet another way. Convertible arbitrage traders will sell the stock of the issuer short and buy the convertible bond. That way they can lock in a relatively attractive bond yield and take the stock risk, embedded in a convertible, out of their return equation.\nWith Wednesday’s drop, NIO, XPeng, and Li stocks are down more than 20% on average this year. U.S. EV stocks aren’t doing so hot either.Lordstown Motors(RIDE) has tumbled 41% this year, whileWorkhorse Group(WKHS) has slumped 44%, andNikolahas dropped 19%. All three of those stock have had their own issues to deal with, such asnegative research reportsandcontract losses.\nAnd evenTesla(TSLA), which is down just 4.9% in 2021, has fallen 24% since peaking in January.\nEV investors havedealt with a lotalready in 2021. Higher interest rates, which make financing growth more expensive and reduce the value of future cash flows, hurt EV stocks. So has the chip shortage. NIO stock, for instance, dropped after it cut delivery guidance because of a lack of chips. Now the specter of more capital raises is shaking investor confidence a little more.","news_type":1},"isVote":1,"tweetType":1,"viewCount":157,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341198061,"gmtCreate":1617789499853,"gmtModify":1704703153173,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Please like !&nbsp;","listText":"Please like !&nbsp;","text":"Please like !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341198061","repostId":"2125749373","repostType":2,"repost":{"id":"2125749373","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":1617789180,"share":"https://ttm.financial/m/news/2125749373?lang=&edition=fundamental","pubTime":"2021-04-07 17:53","market":"us","language":"en","title":"Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab","url":"https://stock-news.laohu8.com/highlight/detail?id=2125749373","media":"Dow Jones","summary":"MW Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab\n\n\n  Shares ","content":"<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> shares jump premarket on FT report it'll merge with Singapore's Grab\n</p>\n<p>\n  Shares in Altimeter Growth 1 <a href=\"https://laohu8.com/S/AGC\">$(AGC)$</a>, a special purpose acquisition company operated by Altimeter Capital, rose 19% in premarket trade after the Financial Times said it's in talks  to merge with Singapore food delivery and payment service Grab. Grab will raise $2.5 billion in total financing, with nearly $1.2 billion coming from Altimeter in the deal that will give Grab a valuation near $35 billion, the report said. The figures could still change depending on talks with investors, the report added. \n</p>\n<p>\n  -Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  April 07, 2021 05:53 ET (09:53 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab</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\">\nAltimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab\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\">2021-04-07 17:53</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> shares jump premarket on FT report it'll merge with Singapore's Grab\n</p>\n<p>\n  Shares in Altimeter Growth 1 <a href=\"https://laohu8.com/S/AGC\">$(AGC)$</a>, a special purpose acquisition company operated by Altimeter Capital, rose 19% in premarket trade after the Financial Times said it's in talks  to merge with Singapore food delivery and payment service Grab. Grab will raise $2.5 billion in total financing, with nearly $1.2 billion coming from Altimeter in the deal that will give Grab a valuation near $35 billion, the report said. The figures could still change depending on talks with investors, the report added. \n</p>\n<p>\n  -Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  April 07, 2021 05:53 ET (09:53 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AGCUU":"Altimeter Growth"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2125749373","content_text":"MW Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab\n\n\n  Shares in Altimeter Growth 1 $(AGC)$, a special purpose acquisition company operated by Altimeter Capital, rose 19% in premarket trade after the Financial Times said it's in talks  to merge with Singapore food delivery and payment service Grab. Grab will raise $2.5 billion in total financing, with nearly $1.2 billion coming from Altimeter in the deal that will give Grab a valuation near $35 billion, the report said. The figures could still change depending on talks with investors, the report added. \n\n\n  -Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  April 07, 2021 05:53 ET (09:53 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"tweetType":1,"viewCount":243,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343618630,"gmtCreate":1617712469220,"gmtModify":1704702082179,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Please like","listText":"Please like","text":"Please like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343618630","repostId":"2125757547","repostType":4,"repost":{"id":"2125757547","pubTimestamp":1617610742,"share":"https://ttm.financial/m/news/2125757547?lang=&edition=fundamental","pubTime":"2021-04-05 16:19","market":"us","language":"en","title":"FOMC meeting minutes, Powell speaks: What to know this week","url":"https://stock-news.laohu8.com/highlight/detail?id=2125757547","media":"Yahoo Finance","summary":"Traders returning from the long holiday weekend will turn their attention to more commentary out of ","content":"<p>Traders returning from the long holiday weekend will turn their attention to more commentary out of the Federal Reserve, with the Federal Open Market Committee's latest meeting minutes and a speech from Fed Chair Jerome Powell on deck. Relatively few new economic data reports or corporate earnings results are scheduled for release.</p><p>The FOMC's meeting minutes, due out Wednesday afternoon, will elucidate members' thinking from their March meeting. At the conclusion of that meeting, the central bank's median forecast for economic growth was sharply upwardly revised, reflecting improving growth trends as the trajectory of new COVID-19 infections improved and vaccinations broadened out. The central bank said it expects real GDP to grow 6.5% this year, versus the 4.2% rate it anticipated in December. The Fed also said it sees the unemployment rate improving to 4.5% by year-end before returning to its pre-pandemic level of 3.5% by 2023.</p><p>Despite these improving projections, the Fed still telegraphed that interest rates would likely remain on hold at current near-zero levels through 2023, with the central bank maintaining its ultra-accommodative monetary policy posturing despite a quicker-than-previously-expected economic recovery. Market participants have been wary of this message, with the Fed suggesting a stubborn tilt toward easy monetary policy even in the face of rising inflation. The Fed's latest forecast showed the median member believed core inflation would rise to 2.4% this year, hitting and exceeding the Fed's 2% target two years earlier than previously anticipated.</p><p>Fed Chair Powell said in his mid-March press conference that inflation would need to be \"on track to exceed 2% moderately for some time\" in order for the Fed to consider its inflation goal met and allow for liftoff on rates. However, that assertion has left some room for interpretation by market participants, leading many to speculate the Fed may be pushed to adjust policy sooner than it has recently telegraphed.</p><h2>'Forecast disagreement'</h2><h2></h2><p>According to a recent survey from Deustche Bank, \"The current gap between the market and the Fed is mostly about forecast disagreement. In particular, survey respondents expect that core PCE in the 2.2%-2.3% range in 2022 and 2023 will beget a more hawkish Fed response,\" Deutsche Bank economist Matthew Luzzetti wrote in a note. \"While we learned at the FOMC meeting that 2.1% core PCE [personal consumption expenditures] inflation is not sufficiently high to trigger liftoff, it is still unclear whether inflation rates in the 2.2%-2.3% range — as expected by our survey and market pricing — would be high enough to get the Fed to tighten. This ambiguity is <a href=\"https://laohu8.com/S/AONE\">one</a> drawback of the Fed's flexible average inflation targeting (FAIT) approach which leaves key parameters undefined.\"</p><p>\"If the Fed were to clearly signal that core PCE inflation in the 2.2%-2.3% range for a year or two is consistent with their view of FAIT and would not trigger a tightening of monetary policy, they could impact market pricing,\" he added. \"Conversely, if the FOMC believes they would raise rates in response to these inflation realizations, then the market is currently pricing an appropriate reaction function and it will take some time for a verdict on whether the Fed or market is correct about the persistence of this inflation shock.\"</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e00f01f2ead30a11c8273f332b00d3da\" tg-width=\"6000\" tg-height=\"4000\" referrerpolicy=\"no-referrer\"><span>WASHINGTON, DC - JANUARY 29: Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on January 29, 2020 in Washington, DC. Chairman Powell announced that the Federal Reserve will not be adjusting interest rates. (Photo by Samuel Corum/Getty Images)Samuel Corum via Getty Images</span></p><p>But while the jury appears to be out among market participants when it comes to the timing of the next rate hike, many agree that the first step toward tightening by the Federal Reserve will likely occur in their crisis-era asset purchase program. Fed Chair Powell said that the central bank would be looking for \"substantial further progress\" — and specifically \"actual progress\" in the data and not \"forecast progress\" — toward the Fed's employment and inflation goals before considering tapering.</p><p>Still, with the latest batch of March economic data exceeding estimates, the Fed may soon begin offering up firmer guidance around its plan for tapering the $120 billion per-month asset purchase program, which was first put into place at the start of the pandemic last year.</p><p>\"Financial conditions should remain quite accommodative for a while, and in our view risks an overshoot,\" Rich Rieder, BlackRock chief investment officer, said in a note. \"We think that the Fed should be able to taper asset purchases sooner than many expect and perhaps by the end of the year, or early next year, which suggests to us that communicating its plan could come as early as the June meeting.\"</p><p>While the forthcoming meeting minutes will not take into account FOMC members' appraisal of the latest batch of economic data, it will offer market participants a sense of whether some members were inclined to look past the first signs of a faster-than-expected economic recovery in dictating the direction of monetary policy.</p><p>That said, Fed Chair Powell's public remarks this coming Thursday will offer a more timely view of the central bank's policy thinking. Powell will be speaking at an International Monetary Fund panel on the global economy Thursday afternoon.</p><p>The discussion will come about a week after the Labor Department's March jobs report, which showed a much better than expected gain of 916,000 non-farm payrolls and a dip in the unemployment rate to 6.0%. Plus, last week's Institute for Supply Management's manufacturing purchasing managers' index unexpectedly jumped to a 37-year high, with some survey participants already citing a rise in commodity prices and a supply and demand mismatch that could exacerbate upward price pressures. Market participants will eye Powell's address to see whether or not these prints shift the needle in the Fed's monetary policy projections.</p><p>\"We expect that as the data come in, the volatility in Fed views will become more pronounced over coming months,\" RBC Capital Markets economists wrote in a note last week.</p><h2>Economic calendar</h2><ul><li><p><b>Monday: </b><a href=\"https://laohu8.com/S/MRKT\">Markit</a> U.S. Services PMI, March Final (60.2 expected, 60.0 in prior print); Markit U.S. Composite PMI, March Final (59.1 in prior print); ISM Services Index, March (58.7 expected, 55.3 in February); Factory Orders, February (-0.5% expected, 2.6% in January); Durable Goods Orders, February Final (-1.1% expected, -1.1% in prior print); Durable Goods Orders excluding transportation, February final (-0.9% expected, -0.9% in prior print); Non-defense capital goods orders excluding aircraft, February final (-0.8% in prior print); Non-defense capital goods shipments excluding aircraft, February final (-1.0% in prior print)</p></li><li><p><b>Tuesday:</b> JOLTS Job Openings, February (6.944 million expected, 6.917 million in prior print)</p></li><li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended April 2 (-2.2% during prior week); Trade Balance, February (-$70.5 billion expected, -$68.2 billion in January); Consumer credit, February ($2.800 billion expected, -$1.315 billion in January) FOMC Meeting Minutes, March Meeting</p></li><li><p><b>Thursday: </b>Initial jobless claims, week ended April 3 (690,000 expected, 719,000 during prior week); Continuing claims, week ended March 27 (3.794 million during prior week)</p></li><li><p><b>Friday:</b> Producer Price Index, month-over-month, March (0.5% expected, 0.5% in February); Producer Price Index excluding food and energy, month-over-month, March (0.2% expected, 0.2% in February); Producer Price Index, year-over-year, March (3.8% expected, 2.5% in February); Producer Price Index excluding food and energy year-over-year, March (2.7% expected, 2.5% in February); Wholesale inventories, month-over-month, February final (0.5% expected, 0.5% in prior print)</p></li></ul><h2>Earnings calendar</h2><ul><li><p><b>Monday: </b>N/A</p></li><li><p><b>Tuesday: </b>N/A</p></li><li><p><b>Wednesday:</b> N/A</p></li><li><p><b>Thursday:</b> Constellation Brands (STZ) before market open</p></li><li><p><b>Friday: </b>N/A</p></li></ul>","source":"yahoofinance_au","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>FOMC meeting minutes, Powell speaks: What to know this week</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\">\nFOMC meeting minutes, Powell speaks: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-05 16:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/fomc-meeting-minutes-powell-speaks-what-to-know-in-the-week-ahead-154814153.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Traders returning from the long holiday weekend will turn their attention to more commentary out of the Federal Reserve, with the Federal Open Market Committee's latest meeting minutes and a speech ...</p>\n\n<a href=\"https://finance.yahoo.com/news/fomc-meeting-minutes-powell-speaks-what-to-know-in-the-week-ahead-154814153.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://finance.yahoo.com/news/fomc-meeting-minutes-powell-speaks-what-to-know-in-the-week-ahead-154814153.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2125757547","content_text":"Traders returning from the long holiday weekend will turn their attention to more commentary out of the Federal Reserve, with the Federal Open Market Committee's latest meeting minutes and a speech from Fed Chair Jerome Powell on deck. Relatively few new economic data reports or corporate earnings results are scheduled for release.The FOMC's meeting minutes, due out Wednesday afternoon, will elucidate members' thinking from their March meeting. At the conclusion of that meeting, the central bank's median forecast for economic growth was sharply upwardly revised, reflecting improving growth trends as the trajectory of new COVID-19 infections improved and vaccinations broadened out. The central bank said it expects real GDP to grow 6.5% this year, versus the 4.2% rate it anticipated in December. The Fed also said it sees the unemployment rate improving to 4.5% by year-end before returning to its pre-pandemic level of 3.5% by 2023.Despite these improving projections, the Fed still telegraphed that interest rates would likely remain on hold at current near-zero levels through 2023, with the central bank maintaining its ultra-accommodative monetary policy posturing despite a quicker-than-previously-expected economic recovery. Market participants have been wary of this message, with the Fed suggesting a stubborn tilt toward easy monetary policy even in the face of rising inflation. The Fed's latest forecast showed the median member believed core inflation would rise to 2.4% this year, hitting and exceeding the Fed's 2% target two years earlier than previously anticipated.Fed Chair Powell said in his mid-March press conference that inflation would need to be \"on track to exceed 2% moderately for some time\" in order for the Fed to consider its inflation goal met and allow for liftoff on rates. However, that assertion has left some room for interpretation by market participants, leading many to speculate the Fed may be pushed to adjust policy sooner than it has recently telegraphed.'Forecast disagreement'According to a recent survey from Deustche Bank, \"The current gap between the market and the Fed is mostly about forecast disagreement. In particular, survey respondents expect that core PCE in the 2.2%-2.3% range in 2022 and 2023 will beget a more hawkish Fed response,\" Deutsche Bank economist Matthew Luzzetti wrote in a note. \"While we learned at the FOMC meeting that 2.1% core PCE [personal consumption expenditures] inflation is not sufficiently high to trigger liftoff, it is still unclear whether inflation rates in the 2.2%-2.3% range — as expected by our survey and market pricing — would be high enough to get the Fed to tighten. This ambiguity is one drawback of the Fed's flexible average inflation targeting (FAIT) approach which leaves key parameters undefined.\"\"If the Fed were to clearly signal that core PCE inflation in the 2.2%-2.3% range for a year or two is consistent with their view of FAIT and would not trigger a tightening of monetary policy, they could impact market pricing,\" he added. \"Conversely, if the FOMC believes they would raise rates in response to these inflation realizations, then the market is currently pricing an appropriate reaction function and it will take some time for a verdict on whether the Fed or market is correct about the persistence of this inflation shock.\"WASHINGTON, DC - JANUARY 29: Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on January 29, 2020 in Washington, DC. Chairman Powell announced that the Federal Reserve will not be adjusting interest rates. (Photo by Samuel Corum/Getty Images)Samuel Corum via Getty ImagesBut while the jury appears to be out among market participants when it comes to the timing of the next rate hike, many agree that the first step toward tightening by the Federal Reserve will likely occur in their crisis-era asset purchase program. Fed Chair Powell said that the central bank would be looking for \"substantial further progress\" — and specifically \"actual progress\" in the data and not \"forecast progress\" — toward the Fed's employment and inflation goals before considering tapering.Still, with the latest batch of March economic data exceeding estimates, the Fed may soon begin offering up firmer guidance around its plan for tapering the $120 billion per-month asset purchase program, which was first put into place at the start of the pandemic last year.\"Financial conditions should remain quite accommodative for a while, and in our view risks an overshoot,\" Rich Rieder, BlackRock chief investment officer, said in a note. \"We think that the Fed should be able to taper asset purchases sooner than many expect and perhaps by the end of the year, or early next year, which suggests to us that communicating its plan could come as early as the June meeting.\"While the forthcoming meeting minutes will not take into account FOMC members' appraisal of the latest batch of economic data, it will offer market participants a sense of whether some members were inclined to look past the first signs of a faster-than-expected economic recovery in dictating the direction of monetary policy.That said, Fed Chair Powell's public remarks this coming Thursday will offer a more timely view of the central bank's policy thinking. Powell will be speaking at an International Monetary Fund panel on the global economy Thursday afternoon.The discussion will come about a week after the Labor Department's March jobs report, which showed a much better than expected gain of 916,000 non-farm payrolls and a dip in the unemployment rate to 6.0%. Plus, last week's Institute for Supply Management's manufacturing purchasing managers' index unexpectedly jumped to a 37-year high, with some survey participants already citing a rise in commodity prices and a supply and demand mismatch that could exacerbate upward price pressures. Market participants will eye Powell's address to see whether or not these prints shift the needle in the Fed's monetary policy projections.\"We expect that as the data come in, the volatility in Fed views will become more pronounced over coming months,\" RBC Capital Markets economists wrote in a note last week.Economic calendarMonday: Markit U.S. Services PMI, March Final (60.2 expected, 60.0 in prior print); Markit U.S. Composite PMI, March Final (59.1 in prior print); ISM Services Index, March (58.7 expected, 55.3 in February); Factory Orders, February (-0.5% expected, 2.6% in January); Durable Goods Orders, February Final (-1.1% expected, -1.1% in prior print); Durable Goods Orders excluding transportation, February final (-0.9% expected, -0.9% in prior print); Non-defense capital goods orders excluding aircraft, February final (-0.8% in prior print); Non-defense capital goods shipments excluding aircraft, February final (-1.0% in prior print)Tuesday: JOLTS Job Openings, February (6.944 million expected, 6.917 million in prior print)Wednesday: MBA Mortgage Applications, week ended April 2 (-2.2% during prior week); Trade Balance, February (-$70.5 billion expected, -$68.2 billion in January); Consumer credit, February ($2.800 billion expected, -$1.315 billion in January) FOMC Meeting Minutes, March MeetingThursday: Initial jobless claims, week ended April 3 (690,000 expected, 719,000 during prior week); Continuing claims, week ended March 27 (3.794 million during prior week)Friday: Producer Price Index, month-over-month, March (0.5% expected, 0.5% in February); Producer Price Index excluding food and energy, month-over-month, March (0.2% expected, 0.2% in February); Producer Price Index, year-over-year, March (3.8% expected, 2.5% in February); Producer Price Index excluding food and energy year-over-year, March (2.7% expected, 2.5% in February); Wholesale inventories, month-over-month, February final (0.5% expected, 0.5% in prior print)Earnings calendarMonday: N/ATuesday: N/AWednesday: N/AThursday: Constellation Brands (STZ) before market openFriday: N/A","news_type":1},"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343618067,"gmtCreate":1617712439059,"gmtModify":1704702081531,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Every month we hear something like this","listText":"Every month we hear something like this","text":"Every month we hear something like this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/343618067","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","pubTimestamp":1617672655,"share":"https://ttm.financial/m/news/1101907559?lang=&edition=fundamental","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<blockquote>\n <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>\n</blockquote>\n<p>Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p>\n<p>In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p>\n<p>Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p>\n<p>The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p>\n<p>A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p>\n<p><b>Unregulated money managers</b></p>\n<p>Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p>\n<p>This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p>\n<p>The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p>\n<p>But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p>\n<p><b>Danger of counterparty risk</b></p>\n<p>This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p>\n<p>So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p>\n<p>One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p>\n<p>But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p>\n<p><b>Yellen on the case</b></p>\n<p>This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p>\n<p>Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p>\n<p>The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time</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\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 09:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of ...</p>\n\n<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1},"isVote":1,"tweetType":1,"viewCount":136,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349634970,"gmtCreate":1617600964990,"gmtModify":1704700711703,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/349634970","repostId":"1191998262","repostType":4,"repost":{"id":"1191998262","pubTimestamp":1617366158,"share":"https://ttm.financial/m/news/1191998262?lang=&edition=fundamental","pubTime":"2021-04-02 20:22","market":"us","language":"en","title":"How Likely Is a Stock Market Crash?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191998262","media":"Motley Fool","summary":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-b","content":"<blockquote>\n You may not like the answer.\n</blockquote>\n<p>For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p>\n<p>But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p>\n<p>It begs the question: How likely is astock market crash? Let's take a closer look.</p>\n<p><b>Double-digit declines occur every 1.87 years, on average</b></p>\n<p>To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p>\n<p>However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p>\n<p>We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p>\n<p><b>Corrections have been an historical given within three years of a bear market bottom</b></p>\n<p>Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p>\n<p>Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p>\n<p>Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p>\n<p><b>Crashes frequently occur when this valuation metric is hit</b></p>\n<p>But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p>\n<p>As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p>\n<p>To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p>\n<p>However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p>\n<p><b>Keep that cash handy in the event that opportunity knocks</b></p>\n<p>To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p>\n<p>While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p>\n<p>The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p>\n<p>If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</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>How Likely Is a Stock Market Crash?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow Likely Is a Stock Market Crash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"source_url":"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191998262","content_text":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.\nBut there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.\nIt begs the question: How likely is astock market crash? Let's take a closer look.\nDouble-digit declines occur every 1.87 years, on average\nTo begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.\nHowever, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.\nWe could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.\nCorrections have been an historical given within three years of a bear market bottom\nAnother interesting piece of evidence to examine is the frequency by which the S&P 500 corrects after hitting a bear-market bottom.\nSince the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).\nPut another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.\nCrashes frequently occur when this valuation metric is hit\nBut the most damning bit of evidence might just be the S&P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.\nAs of the close of business on March 30, the S&P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.\nTo some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.\nHowever, previous instances of the S&P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.\nKeep that cash handy in the event that opportunity knocks\nTo circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.\nWhile this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.\nThe reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&P 500 been negative.\nIf you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357616378,"gmtCreate":1617266759194,"gmtModify":1704698027305,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Like and share","listText":"Like and share","text":"Like and share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/357616378","repostId":"2124022412","repostType":4,"repost":{"id":"2124022412","pubTimestamp":1617264000,"share":"https://ttm.financial/m/news/2124022412?lang=&edition=fundamental","pubTime":"2021-04-01 16:00","market":"us","language":"en","title":"NIO Inc. Provides March and First Quarter 2021 Delivery Update","url":"https://stock-news.laohu8.com/highlight/detail?id=2124022412","media":"GlobeNewswire","summary":"NIO delivered 7,257 vehicles in March 2021, increasing by 373% year-over-year. NIO delivered 20,060 vehicles in the three months ended March 2021, increasing by 423% year-over-year. Cumulative deliveries of the ES8, ES6 and EC6 as of March 31, 2021 reached 95,701. SHANGHAI, China, April 01, 2021  -- NIO Inc.  , a pioneer in China’s premium smart electric vehicle market, today provided its March and first quarter 2021 delivery results.NIO delivered 7,257 vehicles in March 2021, a new monthly reco","content":"<ul>\n <li><b><i>NIO delivered 7,257 vehicles in March 2021, increasing by 373% year-over-year</i></b></li>\n <li><b><i>NIO delivered 20,060 vehicles in the three months ended March 2021, increasing by 423% year-over-year</i></b></li>\n <li><b><i>Cumulative deliveries of the ES8, ES6 and EC6 as of March 31, 2021 reached 95,701</i></b></li>\n</ul>\n<p>SHANGHAI, China, April 01, 2021 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today provided its March and first quarter 2021 delivery results.</p>\n<p>NIO delivered 7,257 vehicles in March 2021, a new monthly record representing a strong 373% year-over-year growth. The deliveries consisted of 1,529 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV, 3,152 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 2,576 EC6s, the Company’s 5-seater premium smart electric coupe SUV. NIO delivered 20,060 vehicles in the first quarter of 2021, a new quarterly record representing an increase of 423% year-over-year. As of March 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 95,701 vehicles.</p>\n<p>About NIO Inc.</p>\n<p>NIO Inc. is a pioneer in China’s premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users. NIO designs, jointly manufactures, and sells smart premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive and convenient power solutions, the Battery as a Service (BaaS), NIO Pilot and NIO Autonomous Driving (NAD), Autonomous Driving as a Service (ADaaS) and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV, in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium electric coupe SUV, in December 2019 and began deliveries of the EC6 in September 2020. On January 9, 2021, NIO ET7, the smart electric flagship sedan and NIO’s first autonomous driving model, was officially launched.</p>","source":"yahoofinance","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>NIO Inc. Provides March and First Quarter 2021 Delivery Update</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\">\nNIO Inc. Provides March and First Quarter 2021 Delivery Update\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-01 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/nio-inc-provides-march-first-080000499.html><strong>GlobeNewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NIO delivered 7,257 vehicles in March 2021, increasing by 373% year-over-year\nNIO delivered 20,060 vehicles in the three months ended March 2021, increasing by 423% year-over-year\nCumulative ...</p>\n\n<a href=\"https://finance.yahoo.com/news/nio-inc-provides-march-first-080000499.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","CRCT":"Cricut, Inc.","TERN":"Terns Pharmaceuticals, Inc."},"source_url":"https://finance.yahoo.com/news/nio-inc-provides-march-first-080000499.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2124022412","content_text":"NIO delivered 7,257 vehicles in March 2021, increasing by 373% year-over-year\nNIO delivered 20,060 vehicles in the three months ended March 2021, increasing by 423% year-over-year\nCumulative deliveries of the ES8, ES6 and EC6 as of March 31, 2021 reached 95,701\n\nSHANGHAI, China, April 01, 2021 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today provided its March and first quarter 2021 delivery results.\nNIO delivered 7,257 vehicles in March 2021, a new monthly record representing a strong 373% year-over-year growth. The deliveries consisted of 1,529 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV, 3,152 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 2,576 EC6s, the Company’s 5-seater premium smart electric coupe SUV. NIO delivered 20,060 vehicles in the first quarter of 2021, a new quarterly record representing an increase of 423% year-over-year. As of March 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 95,701 vehicles.\nAbout NIO Inc.\nNIO Inc. is a pioneer in China’s premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users. NIO designs, jointly manufactures, and sells smart premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive and convenient power solutions, the Battery as a Service (BaaS), NIO Pilot and NIO Autonomous Driving (NAD), Autonomous Driving as a Service (ADaaS) and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV, in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium electric coupe SUV, in December 2019 and began deliveries of the EC6 in September 2020. On January 9, 2021, NIO ET7, the smart electric flagship sedan and NIO’s first autonomous driving model, was officially launched.","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354493039,"gmtCreate":1617194074721,"gmtModify":1704697046396,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"New rotation","listText":"New rotation","text":"New rotation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/354493039","repostId":"1106944157","repostType":4,"repost":{"id":"1106944157","pubTimestamp":1617192736,"share":"https://ttm.financial/m/news/1106944157?lang=&edition=fundamental","pubTime":"2021-03-31 20:12","market":"us","language":"en","title":"Goldman Sachs is close to offering bitcoin and other digital assets to its wealth management clients","url":"https://stock-news.laohu8.com/highlight/detail?id=1106944157","media":"cnbc","summary":"KEY POINTSThe bank aims to begin offering investments in the emerging asset class in the second quar","content":"<div>\n<p>KEY POINTSThe bank aims to begin offering investments in the emerging asset class in the second quarter, according to Mary Rich, who was recently named global head of digital assets for Goldman's ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/31/bitcoin-goldman-is-close-to-offering-bitcoin-to-its-richest-clients.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs is close to offering bitcoin and other digital assets to its wealth management clients</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs is close to offering bitcoin and other digital assets to its wealth management clients\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 20:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/31/bitcoin-goldman-is-close-to-offering-bitcoin-to-its-richest-clients.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSThe bank aims to begin offering investments in the emerging asset class in the second quarter, according to Mary Rich, who was recently named global head of digital assets for Goldman's ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/31/bitcoin-goldman-is-close-to-offering-bitcoin-to-its-richest-clients.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1b3684302211042d481cacf9066fbcca","relate_stocks":{"GS":"高盛"},"source_url":"https://www.cnbc.com/2021/03/31/bitcoin-goldman-is-close-to-offering-bitcoin-to-its-richest-clients.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1106944157","content_text":"KEY POINTSThe bank aims to begin offering investments in the emerging asset class in the second quarter, according to Mary Rich, who was recently named global head of digital assets for Goldman's private wealth management division.Goldman is looking at ultimately offering a \"full spectrum\" of investments in bitcoin and digital assets, \"whether that's through the physical bitcoin, derivatives or traditional investment vehicles,\" she said.Some Goldman clients \"feel like we're sitting at the dawn of a new Internet in some ways and are looking for ways to participate in this space,\" Rich said.Goldman Sachsis close to offering its first investment vehicles forbitcoinand other digital assets to clients of its private wealth management group, CNBC has learned exclusively.The bank aims to begin offering investments in the emerging asset class in the second quarter, according to Mary Rich, who was recently named global head of digital assets for Goldman's private wealth management division.Her promotion was scheduled to be announced Wednesday in an internal company memo seen by CNBC.\"We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near-term,\" Rich said this week in an interview.Goldman is looking at ultimately offering a \"full spectrum\" of investments in bitcoin and digital assets, \"whether that's through the physical bitcoin, derivatives or traditional investment vehicles,\" she said.The move means that soon, clients of two of the world's preeminent investment banks – Goldman andMorgan Stanley– will have access to a nascent asset class that has intrigued billionaires and digital currency believers alike. Earlier this month, Morgan Stanley told its financial advisors that they could place clients into bitcoin funds starting in April, CNBC wasfirst to report.It is the latest sign of the staying power of blockchain-related assets including bitcoin, a new kind of money that emerged out of the wreckage of the 2008 financial crisis and whose exact origins are still unknown. Until now, big U.S. banks have mostly shunned bitcoin, deeming it too speculative and volatile for clients.But after the latest boom in bitcoin’s price has drawn in institutional investors, corporations and fintech players, and the infrastructure to hold digital assets continues to mature, theindustry capitulated. In the end, it was client demand that won out, according to Rich.“There’s a contingent of clients who are looking to this asset as a hedge against inflation, and the macro backdrop over the past year has certainly played into that,” Rich said. “There are also a large contingent of clients who feel like we’re sitting at the dawn of a new Internet in some ways and are looking for ways to participate in this space.”Goldman’s private wealth management business mostly targets individuals, families and endowments with at least $25 million to invest.The bank may offer bitcoin investment funds, similar to those that Morgan Stanley will have, as well as other ways to invest that are “more akin to the underlying asset class which trades 24-7 globally,” Rich said. Some crypto funds, such as the Galaxy Bitcoin Fund, can only be sold or bought onceper quarter, she said.“We’re still in the very nascent stages of this ecosystem; no one knows exactly how it will evolve or what shape it will be,” Rich said. “But I think it’s fairly safe to expect it will be part of our future.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":133,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355403662,"gmtCreate":1617092215056,"gmtModify":1704801841434,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"BP - we will never know the works behind this, could be a close door manipulation / big contraction on oil demand&nbsp;","listText":"BP - we will never know the works behind this, could be a close door manipulation / big contraction on oil demand&nbsp;","text":"BP - we will never know the works behind this, could be a close door manipulation / big contraction on oil demand","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/355403662","repostId":"1167302622","repostType":4,"repost":{"id":"1167302622","pubTimestamp":1617090381,"share":"https://ttm.financial/m/news/1167302622?lang=&edition=fundamental","pubTime":"2021-03-30 15:46","market":"fut","language":"en","title":"Big Oil’s Secret World of Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1167302622","media":"Bloomberg","summary":"(Bloomberg Markets) -- It was a bleak moment for the oil industry. U.S. shale companies were failing","content":"<p>(Bloomberg Markets) -- It was a bleak moment for the oil industry. U.S. shale companies were failing by the dozen. Petrostates were on the brink of bankruptcy. Texas roughnecks and Kuwaiti princes alike had watched helplessly for months as the commodity that was their lifeblood tumbled to prices that had until recently seemed unthinkable. Below $50 a barrel, then below $40, then below $30.</p>\n<p>But inside the central London headquarters of one of the world’s largest oil companies, there was an air of calm. It was January 2016. Bob Dudley had been at the helm of BP Plc for six years. He ought to have had as much reason to panic as anyone in the rest of his industry. The unflashy American had been predicting lower prices for months. He was being proved right, though that was hardly a reason to celebrate.</p>\n<p>Unlike most of his peers, Dudley was no passive observer. At the heart of BP, far removed from the sprawling network of oil fields, refineries, and service stations that the company is known for, sits a vast trading unit, combining the logistical prowess of an air traffic control center with the master-of-the-universe swagger of a macro hedge fund. And, unknown to all but a few company insiders, BP’s traders had spotted, in the teeth of the oil price collapse, an opportunity.</p>\n<p>Over the course of 2015, Dudley had acquired a reputation as the oil industry’s Cassandra. Oil prices had been under pressure ever since Saudi Arabia launched a price war against U.S. shale producers a year earlier. When crude prices started falling, he confidently predicted they would remain “lower for longer.” A few months later, he went further. Oil prices, he said, were due to stay “lower for even longer.”</p>\n<p>On Jan. 20, 2016, the price of Brent crude oil plunged to $27.10 a barrel, the lowest in more than a decade. It was a nadir that would be reached again only in March 2020, when the Saudis launched another price war, this time targeting Russia, just as the coronavirus pandemic sapped global demand.</p>\n<p>When Dudley arrived in the Swiss ski resort of Davos for the World Economic Forum on Jan. 21, 2016, the industry was braced for more doom and gloom. Wearing a dark suit and blue tie, the BP chief executive officer made his way through the snowy streets. After one meeting, he was asked—as usual—for his oil forecast by a gaggle of journalists. “Prices will remain low for longer,” he said. This time, though, his by-then-well-known mantra came with a kicker: “But not forever.”</p>\n<p>Few understood the special significance of his comment. After months of slumping oil prices, BP’s traders had turned bullish. And, in complete secrecy, the company was putting money behind its conviction.</p>\n<p>Shortly before flying to Davos, Dudley had authorized a daring trade: BP would place a large bet on a rebound in oil prices. Although its stock is in the FTSE 100 index and owned by almost every British pension fund, this wager, worth hundreds of millions of dollars, has remained a closely guarded secret until now.</p>\n<p>BP was already heavily exposed to the price of oil. What the traders wanted to do was double down, to increase the exposure by buying futures contracts much as a hedge fund would. BP’s trading arm—staffed by about 3,000 people on its main trading floors in London, Chicago, Houston, and Singapore—argued that the price had fallen so far that it could only go up. And Dudley agreed.</p>\n<p>Quietly, BP bought Brent crude futures traded in London. It was a “management position”—a trade so large it couldn’t be the responsibility of any one trader and had to be overseen by the company’s most senior executives.</p>\n<p>The optimistic coda Dudley attached to his catchphrase in Davos proved prescient. By early February, oil was up by a third, trading above $35 a barrel. By the end of May, it was more than $50 a barrel.</p>\n<p>That’s when the company started to count the profits. The trade “made a lot of money,” says a former BP executive with direct knowledge of it. Another executive, who also was involved, put the payout at about $150 million to $200 million, declining to provide an exact figure. Publicly, however, BP —whose vast size means it’s not obligated to disclose even a windfall of that scale—said almost nothing.</p>\n<p>BP’s trades in&nbsp;the midst of the 2016 slump are a demonstration of one of Big Oil’s best-kept secrets. The company and its rivals Royal Dutch Shell Plc and Total SE aren’t just major oil producers; they’re also some of the world’s largest commodity traders. Shell, the most active of the three, is the world’s largest oil trader—ahead of independent houses such as Vitol Group and Glencore Plc.</p>\n<p>Massive trading floors that mirror those of Wall Street’s biggest banks are becoming increasingly important to the oil companies, which are driven by fears that global oil demand could start to drop in the next few years as climate change concerns reshape society’s—and investors’—attitudes toward fossil fuel producers. No longer looked down upon as handmaidens to the engineers who built Big Oil, the traders are increasingly being seen as their companies’ saviors. The brightest stars can make more than $10 million a year, outstripping their bosses.</p>\n<p>Like BP’s 2016 trade, much about the oil majors’ trading exploits has never been reported. Bloomberg Markets pieced together the story of these lucrative but secretive operations through interviews with more than two dozen current and former traders and executives, some of which were conducted for The World for Sale, our new book on the history of commodity trading.</p>\n<p>The oil majors trade in physical energy markets, buying tankers of crude, gasoline, and diesel. And they do the same in natural gas and power markets via pipelines and electricity grids. But they do more than that: They also speculate in financial markets, buying and selling futures, options, and other financial derivatives in energy markets and beyond—from corn to metals—and closing deals with hedge funds, private equity firms, and investment banks.</p>\n<p>As little known as their trading is to the outside world, BP, Shell, and Total see it as the heart of their business. In a conference call with industry analysts last year, Ben van Beurden, CEO of Shell, described the company’s trading in almost mystical terms: “It actually makes the magic.”</p>\n<p>And the wizardry pays off: In an average year,&nbsp;Shell makes as much as $4 billion in pretax profit from trading oil and gas; BP typically records from $2 billion to $3 billion annually; the French major Total not much less, according to people familiar with the three companies. In the case of BP, for instance, profits can equal roughly half of what the company’s upstream business of producing oil and gas makes in a normal year, such as 2019. In years of low prices, like 2016 or 2020, trading profits can far exceed those of the production business. Last year, both BP and Shell made about $1 billion above their typical profit target in oil and gas trading.</p>\n<p>One reason profits are so high is because the three companies can reduce their trading tax bill by routing their business through low-tax jurisdictions—a strategy not available to their oil pumping and refining businesses, which are rooted in physical infrastructure in particular countries. Shell, for example, concentrates all its trading of West African and Latin American crude via a subsidiary in the Bahamas. With just 36 traders in Nassau, Shell reported profits in the Bahamas of $847.5 million in 2019. Yet it didn’t pay a single dollar in taxes on those gains.</p>\n<p>Even better for the trio, trading profits tend to soar when markets are oversupplied, as was the case in 2015-16 and again in 2020, helping to cushion the blow of low prices on the traditional business of pumping and refining oil. Trading also gives them an edge over their U.S. rivals, Exxon Mobil Corp. and Chevron Corp., which for historical and cultural reasons have eschewed trading.</p>\n<p>For most shareholders, however, the trading business is a black box. \"It is impossible to show exactly what we are doing, unless we want to completely open up our entire trading book, which is something we simply cannot do,\" Shell's van Beurden said last year when asked how much money the trading unit made. Total&nbsp;CEO Patrick Pouyanné, asked a similar question, replied more bluntly:&nbsp;“The oil trading is a secret.”</p>\n<p>What isn’t a secret is the size of the trades. Together the three companies trade almost 30 million barrels a day of oil and other petroleum products, equal to the daily production of the entire OPEC cartel. Shell alone trades about 12 million barrels a day. That’s physical trading. The paper volumes are much larger. Total, for example, trades 6.9 million barrels of physical oil a day, but the equivalent of 31 million barrels of oil derivatives such as futures and options.</p>\n<p>With trading comes risk. The business “suits people who have a real commercial bent, a real desire to make money for the company,” Andrew Smith, head of trading at Shell, says in a recruiting video. They must be fearless, too: “They also have to be comfortable with taking risk. There are very few risk-free trades. Some days we make money; some days you’d lose money,” he says.</p>\n<p>BP, Shell, and Total declined to comment for this article.</p>\n<p>The history of Big Oil and trading goes back to the industry’s origins. Shell started life in London in the 19th century as an oil trader—“Shell” Transport &amp; Trading Co.—and only later got into oil production. Then, in the first half of the 20th century, oil trading simply ceased to exist as the biggest producers squeezed others out of the picture.</p>\n<p>A few large companies came to dominate the industry, underpinned by their agreements to divvy up the oil resources of the Middle East. These companies, BP and Shell among them, were known as the Seven Sisters. Outside their oligopoly, there was very little left to buy or sell.</p>\n<p>BP was emblematic of the era. The British group had grown out of the Anglo-Persian Oil Co., established after oil was first struck in Iran in 1908, and by the early 1970s it could rely on a gusher of oil from its Iranian assets that provided much of the total 5 million barrels a day that it was pumping around the world. BP didn’t need to trade. Instead the nerve center of its business was the dull-sounding “scheduling department,” charged with arranging for BP barrels to be transported in BP tankers into BP refineries and sold into BP fuel stations.</p>\n<p>Already early traders such as Marc Rich, who founded the company that is today Glencore, were finding ways to trade oil outside the control of the Seven Sisters on the nascent spot market. The big oil companies regarded trading as beneath them and looked down on the upstarts, but they would soon be forced to think differently.</p>\n<p>The Iranian revolution of 1979 at a stroke dispossessed BP of much of its oil production. The company was forced to turn to the spot market that it had long disdained to buy the oil its refineries needed.</p>\n<p>Soon BP was doing much more than just buying oil for its own refineries. Andy Hall, then a young graduate working in its scheduling department in New York, would go on to be one of the most successful oil traders in history after leaving BP. He recalls that he started buying any oil that looked cheap, whether BP needed it or not, figuring to resell it at a profit. “We basically started trading oil like crazy,” he says.</p>\n<p>The oil price slump of the late 1990s set the stage for what the three large trading businesses would become as a wave of consolidation swept through the oil industry.</p>\n<p>When Exxon merged with Mobil, which had had a successful trading business, the nontrading culture of Exxon prevailed. The same happened when Chevron took over Texaco. The Americans were pretty much out of the trading business.</p>\n<p>Meanwhile, BP bought Amoco, which had a large trading unit, expanding its reach. The merger of French companies Total and Elf—both large traders—further consolidated Total’s trading business. Shell, too, reorganized and centralized its trading unit.</p>\n<p>By the time the wave of consolidation was over in 2000, the European trio emerged as the kings of oil trading. Their timing was exquisite: Commodity trading was about to enjoy an enormous boom as skyrocketing Chinese demand spurred a decade-long supercycle in prices.</p>\n<p>Big Oil’s trading floors would be at home at JPMorgan Chase &amp; Co. or UBS Group AG. Rows of desks sprouting vast arrays of flashing multicolored screens stretch out almost as far as the eye can see. The traders are arranged according to their market or region of focus, each desk representing a trading “book,” a little empire of supply contracts and derivatives deals.</p>\n<p>The floors don’t just look like Wall Street’s—they’re often located alongside them. BP’s London trading base isn’t at the company’s head office near Buckingham Palace, but in the banking hub of Canary Wharf. In Chicago its traders occupy the historic floor of the former Chicago Mercantile Exchange building.</p>\n<p>All in all, BP, Shell, and Total employ about 8,000 people in their trading divisions, a small fraction of their overall workforce of 250,000. The traders have more in common with the investment bankers across the road than they do with their colleagues sweating on oil rigs in Nigeria or mapping fields off the coast of Brazil. “Trading is a very uber-competitive environment,” Christine Sullivan, a 30-year veteran of Shell trading, says in one of the company’s recruiting videos. “Every day I can see the impact I’ve made to the bottom line. You see that moving up, hopefully, on a daily basis, and it just makes you want to do more.”</p>\n<p>Big Oil’s bosses like to say that speculation isn’t part of the business model of their trading units. That’s not really true. Within BP’s trading division, for example, there was for a number of years a pot of money traded, effectively, by a computer. The so-called Q Book was devised in the 1990s by two of BP’s in-house math whizzes—Chris Allen and Gordon Izatt—long before algorithmic trading became a dominant force in financial markets.</p>\n<p>The Q Book algorithm traded dozens of commodity futures including gold and corn, according to people with knowledge of it. And while BP shut down the Q Book a few years ago, it still has a unit that resembles an in-house hedge fund: The so-called Alpha One Book, run by Tim Hayes, aims to make money betting on financial commodity markets. At Shell and Total, there are similar groups.</p>\n<p>Even so, big speculative wagers on the direction of the price of oil, like the one BP took in 2016, are rare. The day-to-day job of the traders is a little like the role of the scheduling department of bygone eras, but with a healthy dose of entrepreneurial spirit thrown in.</p>\n<p>Their role gives them a huge position in the markets and opens up all kinds of opportunities to maximize profits. Last year, for example, Shell’s traders realized that the spreading coronavirus pandemic would have a catastrophic impact on international travel. They decided to bet that demand for jet fuel would collapse. It was a wager almost no other trader in the market could make on the scale that Shell did: Jet fuel is a niche market, dominated by refineries and airlines, and the market for jet fuel derivatives isn’t liquid enough for most traders to bet on easily.</p>\n<p>But Shell was well poised. It owns the Pernis refinery in Rotterdam—the largest in Europe, each day pumping out enough gasoline, diesel, and jet fuel to keep half of the cars, trucks, and planes in the Netherlands moving. It supplies jet fuel to Amsterdam’s Schiphol Airport.</p>\n<p>In early 2020, before air travel shrank, Shell’s traders tweaked Pernis’s production, cutting out jet fuel entirely while increasing output of other refined products. Shell still had contracts to supply jet fuel, however, so the company was left with a big short position: It would have to buy jet fuel in the market to deliver to its customers, whatever the price, if the company’s traders were wrong about the pandemic. If the price went up, Shell stood to lose millions.</p>\n<p>Of course, the traders weren’t wrong. Jet fuel demand soon plunged 90% in northwestern Europe. Across Europe, prices fell from $666 a ton at the beginning of the year to $125 a ton by late April. “We could buy jet fuel, make money on that particular trade, and then again reconstitute the products coming out of the refinery to make money elsewhere,” Shell’s van Beurden explained in an earnings call with investors in July. “That’s no ordinary trading. That is actually optimizing market positions that we know better than anybody how to take advantage of.”</p>\n<p>Shell didn’t disclose how much money it made on that single trade, but people familiar with the company said that in just the second quarter of 2020, the jet fuel traders made as much as they usually do in a whole year.</p>\n<p>“Inside Shell and BP, the traders are their Navy SEALs,” says former Shell oil analyst Florian Thaler, now head of OilX, an industry data analytics company. For their skills, traders are highly paid.</p>\n<p>For years their remuneration packages were a closely guarded secret. Then in 2006 a BP trader sued the company in the U.S. in a pay dispute. The legal fight that followed exposed the riches of Big Oil trading. The trader, Alison Myers, revealed that, on top of her regular annual salary of $150,000 for 2006, she was due a $5.5 million performance bonus—three times what BP’s then-CEO John Browne took home the same year.</p>\n<p>The legal battle revealed that others at BP did even better. The company said other traders took higher bonuses not only because their desks made more money, but also because speculative traders were generally better paid. “The market value of paper traders was higher than the value of physical traders,” BP said in a court filing.</p>\n<p>Since then, bonuses have only gone up. Nowadays many traders take home from $1 million to $10 million a year, and a handful even more. Every year at BP a list goes to the board for approval. It contains the names of the dozen or so traders whose bonuses are higher than those of the CEO, according to two people familiar with the process.</p>\n<p>At the top of the list typically sits the lead trader of the Cushing Book—the one responsible for buying and selling oil at the Oklahoma town that serves as the delivery point for the West Texas Intermediate benchmark. In a good year, this trader can make as much as $30 million, an amount that would outstrip the $23 million that David Solomon, the boss of Goldman Sachs Group Inc., took home in 2019.</p>\n<p>THE IMMENSE SCALE of the oil companies’ trading units gives them outsize clout. Shell, as Bloomberg News has reported, has in the past made bold trades that, while not illegal, have violated the unspoken rules governing this lightly regulated market. On one occasion in 2016, for example, Shell bought roughly 70% of the cargoes of North Sea crude available for a particular month, triggering wild price gyrations while squeezing out other traders who privately complained to Shell.</p>\n<p>At times, Big Oil traders have broken the rules outright. In 2007, BP paid more than $300 million to settle charges that it manipulated U.S. propane markets, for example. At the time the fine was one of largest ever for alleged market manipulation in commodities. Earlier, U.S. regulators fined Shell $300,000 for manipulating U.S. oil futures markets in 2003 and 2004 and $30 million for manipulating natural gas markets in 2000 and 2002.</p>\n<p>Still, constrained by the sheer size and high public profiles of the companies they work for, BP, Shell, and Total traders are nowhere near as swashbuckling as their counterparts at independent houses, who, history has shown, have been more willing to make a foray into countries where corruption is rife and where buying oil sometimes involves suitcases full of cash.</p>\n<p>That means the oil giants have left many of the juiciest deals to the independents. Brian Gilvary, a former BP head of finance, puts it this way: “Is there value available to us that could be captured over and above what we capture today? Absolutely. Are we prepared to take the risk associated with that? Definitely no. I can give you a list of countries, but you know where they are.”</p>\n<p>In the last few years, Big Oil has muscled more and more into the realm previously dominated by big banks. When, after the 2008-09 financial crisis, the U.S. Congress attempted to tighten regulations around the vast and opaque market for swaps—a form of bespoke derivatives traded bilaterally—the process revealed for the first time the scale of the oil companies’ role in the financial markets.</p>\n<p>The 2010 Dodd-Frank Act on financial reforms required all major players in the swaps market to register themselves. There were the usual suspects: Bank of America, Goldman Sachs, JPMorgan, and other financial behemoths. And then there were three names that seemed out of place: Cargill, the world’s largest trader of agricultural commodities, BP, and Shell.</p>\n<p>As Wall Street banks scaled back their presence in commodities in the post-crisis world, Big Oil stepped in. Shell, for example, in 2016 became the first nonbank to move in on what commodity traders at Wall Street banks see as their largest annual deal: helping the Mexican government hedge its exposure to the price of oil.</p>\n<p>For its part, BP, in a brochure for its trading unit, says, “Our customers also include banks, hedge funds and private equity firms.” The document lists a range of financial strategies it can help customers implement—from “options (vanilla &amp; tailored)” to “tiered volume restructure.”</p>\n<p>With investors of all kinds increasingly unimpressed by the traditional oil-pumping business, trading is becoming an ever more important part of the oil companies’ sales pitch. In a virtual meeting with investors in October 2020, Shell’s van Beurden described the company’s trading unit as “absolutely core to the success of our company.” Even Exxon, which long sneered at trading as an unnecessary distraction, has changed its stance, hiring experienced oil traders to start making bets with the company’s money.</p>\n<p>As BP shifts its investments from fossil fuels to renewable energy, its traders will help it juice the relatively low returns on those investments, Bernard Looney, who last year succeeded Dudley as CEO, said in a presentation to investors in 2020. Renewable energy projects typically generate returns of 5% to 6%, he said, but the company’s expert traders can add about 2 percentage points to that.</p>\n<p>As steeped as BP may seem to be in the rigs and offshore platforms and snaking pipelines of yesteryear, Looney painted an energy future that encompasses electric cars, hydrogen, and biofuels. “We love complexity like this,” he said. “It is why we have elevated our trading function to the leadership table.”</p>\n<p>Blas and Farchy cover energy out of London. Their book, The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources, was published in the U.K. in February by Random House Business and in the U.S. in March by Oxford University Press.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Big Oil’s Secret World of Trading</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\">\nBig Oil’s Secret World of Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 15:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bnnbloomberg.ca/big-oil-s-secret-world-of-trading-1.1583987><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg Markets) -- It was a bleak moment for the oil industry. U.S. shale companies were failing by the dozen. Petrostates were on the brink of bankruptcy. Texas roughnecks and Kuwaiti princes ...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/big-oil-s-secret-world-of-trading-1.1583987\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ba0e918dfd4ec815c4f78fc4cfc3ea3e","relate_stocks":{},"source_url":"https://www.bnnbloomberg.ca/big-oil-s-secret-world-of-trading-1.1583987","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167302622","content_text":"(Bloomberg Markets) -- It was a bleak moment for the oil industry. U.S. shale companies were failing by the dozen. Petrostates were on the brink of bankruptcy. Texas roughnecks and Kuwaiti princes alike had watched helplessly for months as the commodity that was their lifeblood tumbled to prices that had until recently seemed unthinkable. Below $50 a barrel, then below $40, then below $30.\nBut inside the central London headquarters of one of the world’s largest oil companies, there was an air of calm. It was January 2016. Bob Dudley had been at the helm of BP Plc for six years. He ought to have had as much reason to panic as anyone in the rest of his industry. The unflashy American had been predicting lower prices for months. He was being proved right, though that was hardly a reason to celebrate.\nUnlike most of his peers, Dudley was no passive observer. At the heart of BP, far removed from the sprawling network of oil fields, refineries, and service stations that the company is known for, sits a vast trading unit, combining the logistical prowess of an air traffic control center with the master-of-the-universe swagger of a macro hedge fund. And, unknown to all but a few company insiders, BP’s traders had spotted, in the teeth of the oil price collapse, an opportunity.\nOver the course of 2015, Dudley had acquired a reputation as the oil industry’s Cassandra. Oil prices had been under pressure ever since Saudi Arabia launched a price war against U.S. shale producers a year earlier. When crude prices started falling, he confidently predicted they would remain “lower for longer.” A few months later, he went further. Oil prices, he said, were due to stay “lower for even longer.”\nOn Jan. 20, 2016, the price of Brent crude oil plunged to $27.10 a barrel, the lowest in more than a decade. It was a nadir that would be reached again only in March 2020, when the Saudis launched another price war, this time targeting Russia, just as the coronavirus pandemic sapped global demand.\nWhen Dudley arrived in the Swiss ski resort of Davos for the World Economic Forum on Jan. 21, 2016, the industry was braced for more doom and gloom. Wearing a dark suit and blue tie, the BP chief executive officer made his way through the snowy streets. After one meeting, he was asked—as usual—for his oil forecast by a gaggle of journalists. “Prices will remain low for longer,” he said. This time, though, his by-then-well-known mantra came with a kicker: “But not forever.”\nFew understood the special significance of his comment. After months of slumping oil prices, BP’s traders had turned bullish. And, in complete secrecy, the company was putting money behind its conviction.\nShortly before flying to Davos, Dudley had authorized a daring trade: BP would place a large bet on a rebound in oil prices. Although its stock is in the FTSE 100 index and owned by almost every British pension fund, this wager, worth hundreds of millions of dollars, has remained a closely guarded secret until now.\nBP was already heavily exposed to the price of oil. What the traders wanted to do was double down, to increase the exposure by buying futures contracts much as a hedge fund would. BP’s trading arm—staffed by about 3,000 people on its main trading floors in London, Chicago, Houston, and Singapore—argued that the price had fallen so far that it could only go up. And Dudley agreed.\nQuietly, BP bought Brent crude futures traded in London. It was a “management position”—a trade so large it couldn’t be the responsibility of any one trader and had to be overseen by the company’s most senior executives.\nThe optimistic coda Dudley attached to his catchphrase in Davos proved prescient. By early February, oil was up by a third, trading above $35 a barrel. By the end of May, it was more than $50 a barrel.\nThat’s when the company started to count the profits. The trade “made a lot of money,” says a former BP executive with direct knowledge of it. Another executive, who also was involved, put the payout at about $150 million to $200 million, declining to provide an exact figure. Publicly, however, BP —whose vast size means it’s not obligated to disclose even a windfall of that scale—said almost nothing.\nBP’s trades in the midst of the 2016 slump are a demonstration of one of Big Oil’s best-kept secrets. The company and its rivals Royal Dutch Shell Plc and Total SE aren’t just major oil producers; they’re also some of the world’s largest commodity traders. Shell, the most active of the three, is the world’s largest oil trader—ahead of independent houses such as Vitol Group and Glencore Plc.\nMassive trading floors that mirror those of Wall Street’s biggest banks are becoming increasingly important to the oil companies, which are driven by fears that global oil demand could start to drop in the next few years as climate change concerns reshape society’s—and investors’—attitudes toward fossil fuel producers. No longer looked down upon as handmaidens to the engineers who built Big Oil, the traders are increasingly being seen as their companies’ saviors. The brightest stars can make more than $10 million a year, outstripping their bosses.\nLike BP’s 2016 trade, much about the oil majors’ trading exploits has never been reported. Bloomberg Markets pieced together the story of these lucrative but secretive operations through interviews with more than two dozen current and former traders and executives, some of which were conducted for The World for Sale, our new book on the history of commodity trading.\nThe oil majors trade in physical energy markets, buying tankers of crude, gasoline, and diesel. And they do the same in natural gas and power markets via pipelines and electricity grids. But they do more than that: They also speculate in financial markets, buying and selling futures, options, and other financial derivatives in energy markets and beyond—from corn to metals—and closing deals with hedge funds, private equity firms, and investment banks.\nAs little known as their trading is to the outside world, BP, Shell, and Total see it as the heart of their business. In a conference call with industry analysts last year, Ben van Beurden, CEO of Shell, described the company’s trading in almost mystical terms: “It actually makes the magic.”\nAnd the wizardry pays off: In an average year, Shell makes as much as $4 billion in pretax profit from trading oil and gas; BP typically records from $2 billion to $3 billion annually; the French major Total not much less, according to people familiar with the three companies. In the case of BP, for instance, profits can equal roughly half of what the company’s upstream business of producing oil and gas makes in a normal year, such as 2019. In years of low prices, like 2016 or 2020, trading profits can far exceed those of the production business. Last year, both BP and Shell made about $1 billion above their typical profit target in oil and gas trading.\nOne reason profits are so high is because the three companies can reduce their trading tax bill by routing their business through low-tax jurisdictions—a strategy not available to their oil pumping and refining businesses, which are rooted in physical infrastructure in particular countries. Shell, for example, concentrates all its trading of West African and Latin American crude via a subsidiary in the Bahamas. With just 36 traders in Nassau, Shell reported profits in the Bahamas of $847.5 million in 2019. Yet it didn’t pay a single dollar in taxes on those gains.\nEven better for the trio, trading profits tend to soar when markets are oversupplied, as was the case in 2015-16 and again in 2020, helping to cushion the blow of low prices on the traditional business of pumping and refining oil. Trading also gives them an edge over their U.S. rivals, Exxon Mobil Corp. and Chevron Corp., which for historical and cultural reasons have eschewed trading.\nFor most shareholders, however, the trading business is a black box. \"It is impossible to show exactly what we are doing, unless we want to completely open up our entire trading book, which is something we simply cannot do,\" Shell's van Beurden said last year when asked how much money the trading unit made. Total CEO Patrick Pouyanné, asked a similar question, replied more bluntly: “The oil trading is a secret.”\nWhat isn’t a secret is the size of the trades. Together the three companies trade almost 30 million barrels a day of oil and other petroleum products, equal to the daily production of the entire OPEC cartel. Shell alone trades about 12 million barrels a day. That’s physical trading. The paper volumes are much larger. Total, for example, trades 6.9 million barrels of physical oil a day, but the equivalent of 31 million barrels of oil derivatives such as futures and options.\nWith trading comes risk. The business “suits people who have a real commercial bent, a real desire to make money for the company,” Andrew Smith, head of trading at Shell, says in a recruiting video. They must be fearless, too: “They also have to be comfortable with taking risk. There are very few risk-free trades. Some days we make money; some days you’d lose money,” he says.\nBP, Shell, and Total declined to comment for this article.\nThe history of Big Oil and trading goes back to the industry’s origins. Shell started life in London in the 19th century as an oil trader—“Shell” Transport & Trading Co.—and only later got into oil production. Then, in the first half of the 20th century, oil trading simply ceased to exist as the biggest producers squeezed others out of the picture.\nA few large companies came to dominate the industry, underpinned by their agreements to divvy up the oil resources of the Middle East. These companies, BP and Shell among them, were known as the Seven Sisters. Outside their oligopoly, there was very little left to buy or sell.\nBP was emblematic of the era. The British group had grown out of the Anglo-Persian Oil Co., established after oil was first struck in Iran in 1908, and by the early 1970s it could rely on a gusher of oil from its Iranian assets that provided much of the total 5 million barrels a day that it was pumping around the world. BP didn’t need to trade. Instead the nerve center of its business was the dull-sounding “scheduling department,” charged with arranging for BP barrels to be transported in BP tankers into BP refineries and sold into BP fuel stations.\nAlready early traders such as Marc Rich, who founded the company that is today Glencore, were finding ways to trade oil outside the control of the Seven Sisters on the nascent spot market. The big oil companies regarded trading as beneath them and looked down on the upstarts, but they would soon be forced to think differently.\nThe Iranian revolution of 1979 at a stroke dispossessed BP of much of its oil production. The company was forced to turn to the spot market that it had long disdained to buy the oil its refineries needed.\nSoon BP was doing much more than just buying oil for its own refineries. Andy Hall, then a young graduate working in its scheduling department in New York, would go on to be one of the most successful oil traders in history after leaving BP. He recalls that he started buying any oil that looked cheap, whether BP needed it or not, figuring to resell it at a profit. “We basically started trading oil like crazy,” he says.\nThe oil price slump of the late 1990s set the stage for what the three large trading businesses would become as a wave of consolidation swept through the oil industry.\nWhen Exxon merged with Mobil, which had had a successful trading business, the nontrading culture of Exxon prevailed. The same happened when Chevron took over Texaco. The Americans were pretty much out of the trading business.\nMeanwhile, BP bought Amoco, which had a large trading unit, expanding its reach. The merger of French companies Total and Elf—both large traders—further consolidated Total’s trading business. Shell, too, reorganized and centralized its trading unit.\nBy the time the wave of consolidation was over in 2000, the European trio emerged as the kings of oil trading. Their timing was exquisite: Commodity trading was about to enjoy an enormous boom as skyrocketing Chinese demand spurred a decade-long supercycle in prices.\nBig Oil’s trading floors would be at home at JPMorgan Chase & Co. or UBS Group AG. Rows of desks sprouting vast arrays of flashing multicolored screens stretch out almost as far as the eye can see. The traders are arranged according to their market or region of focus, each desk representing a trading “book,” a little empire of supply contracts and derivatives deals.\nThe floors don’t just look like Wall Street’s—they’re often located alongside them. BP’s London trading base isn’t at the company’s head office near Buckingham Palace, but in the banking hub of Canary Wharf. In Chicago its traders occupy the historic floor of the former Chicago Mercantile Exchange building.\nAll in all, BP, Shell, and Total employ about 8,000 people in their trading divisions, a small fraction of their overall workforce of 250,000. The traders have more in common with the investment bankers across the road than they do with their colleagues sweating on oil rigs in Nigeria or mapping fields off the coast of Brazil. “Trading is a very uber-competitive environment,” Christine Sullivan, a 30-year veteran of Shell trading, says in one of the company’s recruiting videos. “Every day I can see the impact I’ve made to the bottom line. You see that moving up, hopefully, on a daily basis, and it just makes you want to do more.”\nBig Oil’s bosses like to say that speculation isn’t part of the business model of their trading units. That’s not really true. Within BP’s trading division, for example, there was for a number of years a pot of money traded, effectively, by a computer. The so-called Q Book was devised in the 1990s by two of BP’s in-house math whizzes—Chris Allen and Gordon Izatt—long before algorithmic trading became a dominant force in financial markets.\nThe Q Book algorithm traded dozens of commodity futures including gold and corn, according to people with knowledge of it. And while BP shut down the Q Book a few years ago, it still has a unit that resembles an in-house hedge fund: The so-called Alpha One Book, run by Tim Hayes, aims to make money betting on financial commodity markets. At Shell and Total, there are similar groups.\nEven so, big speculative wagers on the direction of the price of oil, like the one BP took in 2016, are rare. The day-to-day job of the traders is a little like the role of the scheduling department of bygone eras, but with a healthy dose of entrepreneurial spirit thrown in.\nTheir role gives them a huge position in the markets and opens up all kinds of opportunities to maximize profits. Last year, for example, Shell’s traders realized that the spreading coronavirus pandemic would have a catastrophic impact on international travel. They decided to bet that demand for jet fuel would collapse. It was a wager almost no other trader in the market could make on the scale that Shell did: Jet fuel is a niche market, dominated by refineries and airlines, and the market for jet fuel derivatives isn’t liquid enough for most traders to bet on easily.\nBut Shell was well poised. It owns the Pernis refinery in Rotterdam—the largest in Europe, each day pumping out enough gasoline, diesel, and jet fuel to keep half of the cars, trucks, and planes in the Netherlands moving. It supplies jet fuel to Amsterdam’s Schiphol Airport.\nIn early 2020, before air travel shrank, Shell’s traders tweaked Pernis’s production, cutting out jet fuel entirely while increasing output of other refined products. Shell still had contracts to supply jet fuel, however, so the company was left with a big short position: It would have to buy jet fuel in the market to deliver to its customers, whatever the price, if the company’s traders were wrong about the pandemic. If the price went up, Shell stood to lose millions.\nOf course, the traders weren’t wrong. Jet fuel demand soon plunged 90% in northwestern Europe. Across Europe, prices fell from $666 a ton at the beginning of the year to $125 a ton by late April. “We could buy jet fuel, make money on that particular trade, and then again reconstitute the products coming out of the refinery to make money elsewhere,” Shell’s van Beurden explained in an earnings call with investors in July. “That’s no ordinary trading. That is actually optimizing market positions that we know better than anybody how to take advantage of.”\nShell didn’t disclose how much money it made on that single trade, but people familiar with the company said that in just the second quarter of 2020, the jet fuel traders made as much as they usually do in a whole year.\n“Inside Shell and BP, the traders are their Navy SEALs,” says former Shell oil analyst Florian Thaler, now head of OilX, an industry data analytics company. For their skills, traders are highly paid.\nFor years their remuneration packages were a closely guarded secret. Then in 2006 a BP trader sued the company in the U.S. in a pay dispute. The legal fight that followed exposed the riches of Big Oil trading. The trader, Alison Myers, revealed that, on top of her regular annual salary of $150,000 for 2006, she was due a $5.5 million performance bonus—three times what BP’s then-CEO John Browne took home the same year.\nThe legal battle revealed that others at BP did even better. The company said other traders took higher bonuses not only because their desks made more money, but also because speculative traders were generally better paid. “The market value of paper traders was higher than the value of physical traders,” BP said in a court filing.\nSince then, bonuses have only gone up. Nowadays many traders take home from $1 million to $10 million a year, and a handful even more. Every year at BP a list goes to the board for approval. It contains the names of the dozen or so traders whose bonuses are higher than those of the CEO, according to two people familiar with the process.\nAt the top of the list typically sits the lead trader of the Cushing Book—the one responsible for buying and selling oil at the Oklahoma town that serves as the delivery point for the West Texas Intermediate benchmark. In a good year, this trader can make as much as $30 million, an amount that would outstrip the $23 million that David Solomon, the boss of Goldman Sachs Group Inc., took home in 2019.\nTHE IMMENSE SCALE of the oil companies’ trading units gives them outsize clout. Shell, as Bloomberg News has reported, has in the past made bold trades that, while not illegal, have violated the unspoken rules governing this lightly regulated market. On one occasion in 2016, for example, Shell bought roughly 70% of the cargoes of North Sea crude available for a particular month, triggering wild price gyrations while squeezing out other traders who privately complained to Shell.\nAt times, Big Oil traders have broken the rules outright. In 2007, BP paid more than $300 million to settle charges that it manipulated U.S. propane markets, for example. At the time the fine was one of largest ever for alleged market manipulation in commodities. Earlier, U.S. regulators fined Shell $300,000 for manipulating U.S. oil futures markets in 2003 and 2004 and $30 million for manipulating natural gas markets in 2000 and 2002.\nStill, constrained by the sheer size and high public profiles of the companies they work for, BP, Shell, and Total traders are nowhere near as swashbuckling as their counterparts at independent houses, who, history has shown, have been more willing to make a foray into countries where corruption is rife and where buying oil sometimes involves suitcases full of cash.\nThat means the oil giants have left many of the juiciest deals to the independents. Brian Gilvary, a former BP head of finance, puts it this way: “Is there value available to us that could be captured over and above what we capture today? Absolutely. Are we prepared to take the risk associated with that? Definitely no. I can give you a list of countries, but you know where they are.”\nIn the last few years, Big Oil has muscled more and more into the realm previously dominated by big banks. When, after the 2008-09 financial crisis, the U.S. Congress attempted to tighten regulations around the vast and opaque market for swaps—a form of bespoke derivatives traded bilaterally—the process revealed for the first time the scale of the oil companies’ role in the financial markets.\nThe 2010 Dodd-Frank Act on financial reforms required all major players in the swaps market to register themselves. There were the usual suspects: Bank of America, Goldman Sachs, JPMorgan, and other financial behemoths. And then there were three names that seemed out of place: Cargill, the world’s largest trader of agricultural commodities, BP, and Shell.\nAs Wall Street banks scaled back their presence in commodities in the post-crisis world, Big Oil stepped in. Shell, for example, in 2016 became the first nonbank to move in on what commodity traders at Wall Street banks see as their largest annual deal: helping the Mexican government hedge its exposure to the price of oil.\nFor its part, BP, in a brochure for its trading unit, says, “Our customers also include banks, hedge funds and private equity firms.” The document lists a range of financial strategies it can help customers implement—from “options (vanilla & tailored)” to “tiered volume restructure.”\nWith investors of all kinds increasingly unimpressed by the traditional oil-pumping business, trading is becoming an ever more important part of the oil companies’ sales pitch. In a virtual meeting with investors in October 2020, Shell’s van Beurden described the company’s trading unit as “absolutely core to the success of our company.” Even Exxon, which long sneered at trading as an unnecessary distraction, has changed its stance, hiring experienced oil traders to start making bets with the company’s money.\nAs BP shifts its investments from fossil fuels to renewable energy, its traders will help it juice the relatively low returns on those investments, Bernard Looney, who last year succeeded Dudley as CEO, said in a presentation to investors in 2020. Renewable energy projects typically generate returns of 5% to 6%, he said, but the company’s expert traders can add about 2 percentage points to that.\nAs steeped as BP may seem to be in the rigs and offshore platforms and snaking pipelines of yesteryear, Looney painted an energy future that encompasses electric cars, hydrogen, and biofuels. “We love complexity like this,” he said. “It is why we have elevated our trading function to the leadership table.”\nBlas and Farchy cover energy out of London. Their book, The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources, was published in the U.K. in February by Random House Business and in the U.S. in March by Oxford University Press.","news_type":1},"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355574887,"gmtCreate":1617091893049,"gmtModify":1704801835921,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574372894605246","authorIdStr":"3574372894605246"},"themes":[],"htmlText":"Danger","listText":"Danger","text":"Danger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/355574887","repostId":"1101398939","repostType":4,"repost":{"id":"1101398939","pubTimestamp":1617091251,"share":"https://ttm.financial/m/news/1101398939?lang=&edition=fundamental","pubTime":"2021-03-30 16:00","market":"us","language":"en","title":"Credit Suisse is said to have lost $3B-$4B on Archegos selloff, FT says","url":"https://stock-news.laohu8.com/highlight/detail?id=1101398939","media":"seekingalpha","summary":"Credit Suisse reportedly lost between $3B and $4B due to theArchegos Capital liquidation, theFT repo","content":"<p>Credit Suisse&nbsp;reportedly lost between $3B and $4B due to theArchegos Capital liquidation, theFT reportedearlier, citingtwo people close to the bank.</p><p>Credit Suisse earlier said that the size of the could be \"highly significant.\" Credit Suisseshares dropped 12%&nbsp;today.</p><p>“While at this time it is premature to quantify the exact size of the loss resulting from this exit, it could be highly significant and material to our first quarter results, notwithstanding the positive trends announced in our trading statement earlier this month,” Credit Suisse said in a statement earlier.</p><p>Nomura(NYSE:NMR)&nbsp;fell&nbsp;14%&nbsp;today after Japanese bank&nbsp;warned of significant losses of potentially $2b from transactions with an unnamed U.S. client.</p><p>Separately,&nbsp; Bill Hwang's Archegos Capital said in a statement that&nbsp;&nbsp;“all plans are being discussed as Mr. Hwang and the team determine the best path forward,\" accordingto Reuters.</p><p>Earlier,Bank stocks pare declines as investors assess hedge fund collapse.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse is said to have lost $3B-$4B on Archegos selloff, FT says</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\">\nCredit Suisse is said to have lost $3B-$4B on Archegos selloff, FT says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3677420-credit-suisse-is-said-to-have-lost-3b-4b-on-archegos-trades-ft-says><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Credit Suisse reportedly lost between $3B and $4B due to theArchegos Capital liquidation, theFT reportedearlier, citingtwo people close to the bank.Credit Suisse earlier said that the size of the ...</p>\n\n<a href=\"https://seekingalpha.com/news/3677420-credit-suisse-is-said-to-have-lost-3b-4b-on-archegos-trades-ft-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3957154ffb461512e6e195413fc956a3","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3677420-credit-suisse-is-said-to-have-lost-3b-4b-on-archegos-trades-ft-says","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1101398939","content_text":"Credit Suisse reportedly lost between $3B and $4B due to theArchegos Capital liquidation, theFT reportedearlier, citingtwo people close to the bank.Credit Suisse earlier said that the size of the could be \"highly significant.\" Credit Suisseshares dropped 12% today.“While at this time it is premature to quantify the exact size of the loss resulting from this exit, it could be highly significant and material to our first quarter results, notwithstanding the positive trends announced in our trading statement earlier this month,” Credit Suisse said in a statement earlier.Nomura(NYSE:NMR) fell 14% today after Japanese bank warned of significant losses of potentially $2b from transactions with an unnamed U.S. client.Separately,  Bill Hwang's Archegos Capital said in a statement that  “all plans are being discussed as Mr. Hwang and the team determine the best path forward,\" accordingto Reuters.Earlier,Bank stocks pare declines as investors assess hedge fund collapse.","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":341198061,"gmtCreate":1617789499853,"gmtModify":1704703153173,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Please like !&nbsp;","listText":"Please like !&nbsp;","text":"Please like !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341198061","repostId":"2125749373","repostType":2,"repost":{"id":"2125749373","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":1617789180,"share":"https://ttm.financial/m/news/2125749373?lang=&edition=fundamental","pubTime":"2021-04-07 17:53","market":"us","language":"en","title":"Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab","url":"https://stock-news.laohu8.com/highlight/detail?id=2125749373","media":"Dow Jones","summary":"MW Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab\n\n\n  Shares ","content":"<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> shares jump premarket on FT report it'll merge with Singapore's Grab\n</p>\n<p>\n  Shares in Altimeter Growth 1 <a href=\"https://laohu8.com/S/AGC\">$(AGC)$</a>, a special purpose acquisition company operated by Altimeter Capital, rose 19% in premarket trade after the Financial Times said it's in talks  to merge with Singapore food delivery and payment service Grab. Grab will raise $2.5 billion in total financing, with nearly $1.2 billion coming from Altimeter in the deal that will give Grab a valuation near $35 billion, the report said. The figures could still change depending on talks with investors, the report added. \n</p>\n<p>\n  -Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  April 07, 2021 05:53 ET (09:53 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab</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\">\nAltimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab\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\">2021-04-07 17:53</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> shares jump premarket on FT report it'll merge with Singapore's Grab\n</p>\n<p>\n  Shares in Altimeter Growth 1 <a href=\"https://laohu8.com/S/AGC\">$(AGC)$</a>, a special purpose acquisition company operated by Altimeter Capital, rose 19% in premarket trade after the Financial Times said it's in talks  to merge with Singapore food delivery and payment service Grab. Grab will raise $2.5 billion in total financing, with nearly $1.2 billion coming from Altimeter in the deal that will give Grab a valuation near $35 billion, the report said. The figures could still change depending on talks with investors, the report added. \n</p>\n<p>\n  -Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  April 07, 2021 05:53 ET (09:53 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AGCUU":"Altimeter Growth"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2125749373","content_text":"MW Altimeter Growth shares jump premarket on FT report it'll merge with Singapore's Grab\n\n\n  Shares in Altimeter Growth 1 $(AGC)$, a special purpose acquisition company operated by Altimeter Capital, rose 19% in premarket trade after the Financial Times said it's in talks  to merge with Singapore food delivery and payment service Grab. Grab will raise $2.5 billion in total financing, with nearly $1.2 billion coming from Altimeter in the deal that will give Grab a valuation near $35 billion, the report said. The figures could still change depending on talks with investors, the report added. \n\n\n  -Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  April 07, 2021 05:53 ET (09:53 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"tweetType":1,"viewCount":243,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108599448,"gmtCreate":1620037712484,"gmtModify":1704337689749,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"It can only go uppp","listText":"It can only go uppp","text":"It can only go uppp","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/108599448","repostId":"1135819410","repostType":4,"repost":{"id":"1135819410","pubTimestamp":1619999342,"share":"https://ttm.financial/m/news/1135819410?lang=&edition=fundamental","pubTime":"2021-05-03 07:49","market":"us","language":"en","title":"Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1135819410","media":"Barrons","summary":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their fi","content":"<p>It’s another packed week of earnings reports, with 130 S&amp;P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday:&nbsp;Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.</p><p>On Wednesday,&nbsp;Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings.&nbsp;Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on&nbsp;Friday.</p><p><img src=\"https://static.tigerbbs.com/e1a866fbe5118566e68842053d76e2b9\" tg-width=\"1382\" tg-height=\"750\"></p><p>On the economic calendar this week, the&nbsp;main event will jobs Friday.&nbsp;The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.</p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its&nbsp;Services equivalent on Wednesday.</p><p>Enterprise Products Partners&nbsp;and Estée Lauder release earnings.</p><p>Merck and&nbsp;Public Storage&nbsp;hold virtual investor days.</p><p><b>The Census Bureau</b>&nbsp;reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.</p><p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.</p><p><b>Tuesday 5/4</b></p><p>Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.</p><p>Eli Lilly&nbsp;holds a conference call to discuss its sustainability initiatives.</p><p>Union Pacific&nbsp;holds its 2021 virtual investor day.</p><p><b>Wednesday 5/5</b></p><p>Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.</p><p><b>ADP releases</b>&nbsp;its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.</p><p><b>ISM releases</b>&nbsp;its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.</p><p><b>Thursday 5/6</b></p><p>Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and&nbsp;Zoetishold conference calls to discuss quarterly results.</p><p><b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.</p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.</p><p><b>Friday 5/7</b></p><p><b>The Bureau of Labor</b>&nbsp;Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.</p><p>Cigna and&nbsp;<b>Liberty Media</b>&nbsp;report earnings.</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>Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week</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\">\nUber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-03 07:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: ...</p>\n\n<a href=\"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","PFE":"辉瑞","GM":"通用汽车",".SPX":"S&P 500 Index","TMUS":"T-Mobile US Inc",".DJI":"道琼斯","PYPL":"PayPal","UBER":"优步"},"source_url":"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135819410","content_text":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.On Wednesday, Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings. Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on Friday.On the economic calendar this week, the main event will jobs Friday. The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its Services equivalent on Wednesday.Enterprise Products Partners and Estée Lauder release earnings.Merck and Public Storage hold virtual investor days.The Census Bureau reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.Tuesday 5/4Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.Eli Lilly holds a conference call to discuss its sustainability initiatives.Union Pacific holds its 2021 virtual investor day.Wednesday 5/5Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.ADP releases its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.ISM releases its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.Thursday 5/6Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and Zoetishold conference calls to discuss quarterly results.The Department of Labor reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.The Bureau of Labor Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.Friday 5/7The Bureau of Labor Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.Cigna and Liberty Media report earnings.","news_type":1},"isVote":1,"tweetType":1,"viewCount":306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349634970,"gmtCreate":1617600964990,"gmtModify":1704700711703,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/349634970","repostId":"1191998262","repostType":4,"repost":{"id":"1191998262","pubTimestamp":1617366158,"share":"https://ttm.financial/m/news/1191998262?lang=&edition=fundamental","pubTime":"2021-04-02 20:22","market":"us","language":"en","title":"How Likely Is a Stock Market Crash?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191998262","media":"Motley Fool","summary":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-b","content":"<blockquote>\n You may not like the answer.\n</blockquote>\n<p>For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p>\n<p>But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p>\n<p>It begs the question: How likely is astock market crash? Let's take a closer look.</p>\n<p><b>Double-digit declines occur every 1.87 years, on average</b></p>\n<p>To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p>\n<p>However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p>\n<p>We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p>\n<p><b>Corrections have been an historical given within three years of a bear market bottom</b></p>\n<p>Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p>\n<p>Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p>\n<p>Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p>\n<p><b>Crashes frequently occur when this valuation metric is hit</b></p>\n<p>But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p>\n<p>As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p>\n<p>To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p>\n<p>However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p>\n<p><b>Keep that cash handy in the event that opportunity knocks</b></p>\n<p>To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p>\n<p>While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p>\n<p>The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p>\n<p>If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</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>How Likely Is a Stock Market Crash?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow Likely Is a Stock Market Crash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"source_url":"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191998262","content_text":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.\nBut there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.\nIt begs the question: How likely is astock market crash? Let's take a closer look.\nDouble-digit declines occur every 1.87 years, on average\nTo begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.\nHowever, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.\nWe could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.\nCorrections have been an historical given within three years of a bear market bottom\nAnother interesting piece of evidence to examine is the frequency by which the S&P 500 corrects after hitting a bear-market bottom.\nSince the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).\nPut another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.\nCrashes frequently occur when this valuation metric is hit\nBut the most damning bit of evidence might just be the S&P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.\nAs of the close of business on March 30, the S&P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.\nTo some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.\nHowever, previous instances of the S&P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.\nKeep that cash handy in the event that opportunity knocks\nTo circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.\nWhile this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.\nThe reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&P 500 been negative.\nIf you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128729940,"gmtCreate":1624532696580,"gmtModify":1703839566774,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Byd all the way","listText":"Byd all the way","text":"Byd all the way","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128729940","repostId":"2145045355","repostType":4,"repost":{"id":"2145045355","pubTimestamp":1624531991,"share":"https://ttm.financial/m/news/2145045355?lang=&edition=fundamental","pubTime":"2021-06-24 18:53","market":"us","language":"en","title":"Warren Buffett Has Gained More Than 1,000% in These 6 Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2145045355","media":"Motley Fool","summary":"The Oracle of Omaha hit the nail on the head with these half-dozen investments.","content":"<p><b>Berkshire Hathaway</b> (NYSE:BRK.A)(NYSE:BRK.B) CEO Warren Buffett has developed quite the following on Wall Street. That's because his company has averaged... <i>averaged</i>... an annual return of 20% since the mid-1960s. In aggregate, we're talking about a return of more than 2,800,000% through the end of 2020.</p>\n<p>While there are a lot of reasons Buffett has been such a successful investor, his ability to spot businesses with clear-cut competitive advantages and his willingness to hold onto these stakes for very long periods of time have led to massive returns. Not taking into account dividend payments, the Oracle of Omaha is sitting on unrealized gains in the following six stocks of at least 1,000%!</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e92116e97f06291ec28eda85974acb1b\" tg-width=\"700\" tg-height=\"466\"><span>It's easy for Berkshire Hathaway CEO Warren Buffett to be all smiles with gains like these. Image source: The Motley Fool.</span></p>\n<h2>Coca-Cola: Up 1,553%</h2>\n<p>Beverage-giant <b>Coca-Cola</b> (NYSE:KO) is Berkshire Hathaway's longest-held stock. It was initially purchased in 1988, and Buffett and his investing team have a cost basis around $3.25 a share. With Coke closing on June 18 at $53.77, Berkshire is relishing an unrealized gain of just over 1,550%.</p>\n<p>Additionally, Coca-Cola has raised its dividend in each of the past 59 years. Based on its base annual payout of $1.68 in 2021, Berkshire Hathaway will collect $672 million in dividend income this year. And here's the kicker: This represents a nearly 52% yield, based on the company's original cost basis.</p>\n<p>It's highly unlikely that Coca-Cola will ever be sold as long as Warren Buffett is in charge. It's a company with exceptionally strong global brand recognition, a top-notch marketing team, and a presence in all but two countries worldwide (North Korea and Cuba). With 20% of developed-market cold-beverage share and 10% of emerging-market cold-beverage share, Coke's cash flow is as steady as they come.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e620afe74ae7a993a266e744fb1b6cd\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Moody's: Up 3,370%</h2>\n<p>Credit ratings and analytics company <b>Moody's </b>(NYSE:MCO) has also put a pretty penny in the Oracle of Omaha's pockets. According to Berkshire Hathaway's annual shareholder letter, Buffett's company has a cost basis on Moody's of just $10.05. Since it was spun-off from Dun &amp; Bradstreet in 2000, Moody's shares have climbed to almost $349. This works out to an unrealized gain of 3,370%!</p>\n<p>Buffett is also making bank as a result of Moody's dividend growth. While its current yield of 0.7% is enough to make even modest income seekers yawn, the $2.48 base annual payout works out to a nearly 25% yield, based on Berkshire Hathaway's initial cost basis. For that reason alone, Moody's is also unlikely to be sold as long as Buffett is around.</p>\n<p>Make no mistake, there have been financial reasons to be optimistic about Moody's, too. Historically low lending rates have encouraged public companies to issue debt, which is keeping Moody's ratings division busy. Meanwhile, market volatility offers the potential to deliver sustained double-digit growth for Moody's analytics segment.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ed3e6a16841306014bf0cfc3b1697b23\" tg-width=\"700\" tg-height=\"466\"><span>Image source: American Express.</span></p>\n<h2>American Express: Up 1,763%</h2>\n<p>Here's a fun fact to impress all your party guests: 112 million Americans weren't even alive the last time Warren Buffett didn't own payment-processing company <b>American Express</b> (NYSE:AXP) in Berkshire Hathaway's portfolio. Purchased in 1993, Berkshire sports a cost basis of just $8.49 on AmEx. Considering it closed this past weekend at just north of $158, Buffett's company is sitting on an unrealized gain of 1,763%.</p>\n<p>Not to sound like a broken record, but the Oracle of Omaha is also receiving <a href=\"https://laohu8.com/S/AONE\">one</a> heck of a payback from American Express on the dividend front. AmEx's current base annual payout is $1.72 (a 1% annual yield). But relative to Berkshire Hathaway's cost basis, Buffett is pocketing a 20% yield on cost. Not too shabby for being patient!</p>\n<p>AmEx's success can be pinned on it benefiting from long periods of economic expansion, as well as its uncanny ability to court affluent clientele. The well-to-do are far less likely to significantly reduce their spending when minor economic hiccups arise. That often means predictable cash flow for American Express and a generally quick rebound from recessions.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8abdae403dddfa42107e06ea5bfddf39\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>BYD Co.: Up 2,789%</h2>\n<p>Unquestionably, the most under-the-radar outperformer for Berkshire Hathaway has to be electric-vehicle manufacturer <b>BYD</b>.&nbsp; Buffett owns the H-Class shares (OTC:BYDD.F) -- he acquired 225 million shares of the Chinese EV producer in 2008 for an average price of $1.03 a share and has since seen those shares climb to nearly $30. That's just your run-of-the-mill 2,789% unrealized gain in roughly 13 years.</p>\n<p>Although BYD doesn't play a dividend, Buffett is enjoying the fact that his company got in on the ground floor of the EV shift in China. According to the Society of Automotive Engineers of China, half of all new vehicles sales in 2035 will feature alternative energy, 95% of which are expected to be EVs. China is the largest auto market in the world, which gives BYD a really good chance to carve out substantial market share.</p>\n<p>Initial results have been promising. In May, the company sold 32,800 EVs and plug-in hybrids, 18,711 of which were EVs. Looking just at EVs, this was a 126% increase from May 2020. With growth like this, Buffett's investment lieutenants, Todd Combs and Ted Weschler, are liable to encourage the Oracle of Omaha to hold this position even longer.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fc80e4dea1a6f3868ca4f03e6ea300ae\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Mastercard: Up approximately 1,400%</h2>\n<p>Another quadruple-digit gainer for Buffett's portfolio is payment-processor <b>Mastercard</b> (NYSE:MA).</p>\n<p>Whereas Berkshire Hathaway discloses its cost basis on its top 10 or 15 holdings every year, it doesn't do the same for its smaller holdings by market value, which is where Mastercard finds itself. What we do know is that Buffett and his team began gobbling up shares in the first quarter of 2011. During that quarter, Mastercard was valued between $22 and $25, on a split-adjusted basis. If we just arbitrarily say that $24 is the average buy-in for these shares, Berkshire Hathaway is sitting on an unrealized gain of more than 1,400%, as of this past weekend.</p>\n<p>Similar to AmEx, Mastercard is a beneficiary of long-winded bull markets. Even though recessions are inevitable, they last for short periods of time, compared to economic expansions. As the No. 2 in credit card network-purchase volume in the U.S. (the largest market in the world for consumption), Mastercard finds itself in an enviable position to take advantage of increased consumer and enterprise spending.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a295212aa2b7c99c921b8afa2a4aa3a2\" tg-width=\"700\" tg-height=\"467\"><span>Image source: Getty Images.</span></p>\n<h2><a href=\"https://laohu8.com/S/V\">Visa</a>: Up approximately 1,000%</h2>\n<p>Finally, to round things out, we have Mastercard's big brother, <b>Visa</b> (NYSE:V). Like Mastercard, Visa is a smaller holding for Berkshire Hathaway, which means there's no specific cost-basis information.</p>\n<p>What we do know is that the Oracle of Omaha and his team acquired shares in the third quarter of 2011. During that time, Visa shares could be purchased for between $19 and $23, on a split-adjusted basis, with an average price during the quarter around $21. Assuming this average is accurate, Berkshire is sitting on an unrealized gain of about 1,000%.</p>\n<p>The really interesting differentiator for Visa and its peer Mastercard is their choice to avoid lending. While some of their processing peers also lend (AmEx), and are therefore able to generate interest and fee-based income during periods of expansion, these lenders are also exposed to credit delinquencies during economic contractions and recessions. By not lending, Visa and Mastercard don't have to set aside cash to cover delinquencies, which is why they rebound more quickly than other financial stocks after a recession.</p>\n<p>Visa is also the clear kingpin in the U.S. market. As of 2018, Visa controlled 53% of U.S. credit card network-purchase volume. It also closed on the acquisition of Visa Europe in 2016. In short, there's ample opportunity for Visa to continue growing by a low double-digit percentage on an annual basis.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett Has Gained More Than 1,000% in These 6 Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett Has Gained More Than 1,000% in These 6 Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 18:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/24/warren-buffett-gained-more-than-1000-in-6-stocks/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) CEO Warren Buffett has developed quite the following on Wall Street. That's because his company has averaged... averaged... an annual return of 20% since ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/24/warren-buffett-gained-more-than-1000-in-6-stocks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","V":"Visa","KO":"可口可乐","BRK.B":"伯克希尔B","BYDDF":"BYD Co., Ltd.","MA":"万事达","MCO":"穆迪","AXP":"美国运通"},"source_url":"https://www.fool.com/investing/2021/06/24/warren-buffett-gained-more-than-1000-in-6-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145045355","content_text":"Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) CEO Warren Buffett has developed quite the following on Wall Street. That's because his company has averaged... averaged... an annual return of 20% since the mid-1960s. In aggregate, we're talking about a return of more than 2,800,000% through the end of 2020.\nWhile there are a lot of reasons Buffett has been such a successful investor, his ability to spot businesses with clear-cut competitive advantages and his willingness to hold onto these stakes for very long periods of time have led to massive returns. Not taking into account dividend payments, the Oracle of Omaha is sitting on unrealized gains in the following six stocks of at least 1,000%!\nIt's easy for Berkshire Hathaway CEO Warren Buffett to be all smiles with gains like these. Image source: The Motley Fool.\nCoca-Cola: Up 1,553%\nBeverage-giant Coca-Cola (NYSE:KO) is Berkshire Hathaway's longest-held stock. It was initially purchased in 1988, and Buffett and his investing team have a cost basis around $3.25 a share. With Coke closing on June 18 at $53.77, Berkshire is relishing an unrealized gain of just over 1,550%.\nAdditionally, Coca-Cola has raised its dividend in each of the past 59 years. Based on its base annual payout of $1.68 in 2021, Berkshire Hathaway will collect $672 million in dividend income this year. And here's the kicker: This represents a nearly 52% yield, based on the company's original cost basis.\nIt's highly unlikely that Coca-Cola will ever be sold as long as Warren Buffett is in charge. It's a company with exceptionally strong global brand recognition, a top-notch marketing team, and a presence in all but two countries worldwide (North Korea and Cuba). With 20% of developed-market cold-beverage share and 10% of emerging-market cold-beverage share, Coke's cash flow is as steady as they come.\nImage source: Getty Images.\nMoody's: Up 3,370%\nCredit ratings and analytics company Moody's (NYSE:MCO) has also put a pretty penny in the Oracle of Omaha's pockets. According to Berkshire Hathaway's annual shareholder letter, Buffett's company has a cost basis on Moody's of just $10.05. Since it was spun-off from Dun & Bradstreet in 2000, Moody's shares have climbed to almost $349. This works out to an unrealized gain of 3,370%!\nBuffett is also making bank as a result of Moody's dividend growth. While its current yield of 0.7% is enough to make even modest income seekers yawn, the $2.48 base annual payout works out to a nearly 25% yield, based on Berkshire Hathaway's initial cost basis. For that reason alone, Moody's is also unlikely to be sold as long as Buffett is around.\nMake no mistake, there have been financial reasons to be optimistic about Moody's, too. Historically low lending rates have encouraged public companies to issue debt, which is keeping Moody's ratings division busy. Meanwhile, market volatility offers the potential to deliver sustained double-digit growth for Moody's analytics segment.\nImage source: American Express.\nAmerican Express: Up 1,763%\nHere's a fun fact to impress all your party guests: 112 million Americans weren't even alive the last time Warren Buffett didn't own payment-processing company American Express (NYSE:AXP) in Berkshire Hathaway's portfolio. Purchased in 1993, Berkshire sports a cost basis of just $8.49 on AmEx. Considering it closed this past weekend at just north of $158, Buffett's company is sitting on an unrealized gain of 1,763%.\nNot to sound like a broken record, but the Oracle of Omaha is also receiving one heck of a payback from American Express on the dividend front. AmEx's current base annual payout is $1.72 (a 1% annual yield). But relative to Berkshire Hathaway's cost basis, Buffett is pocketing a 20% yield on cost. Not too shabby for being patient!\nAmEx's success can be pinned on it benefiting from long periods of economic expansion, as well as its uncanny ability to court affluent clientele. The well-to-do are far less likely to significantly reduce their spending when minor economic hiccups arise. That often means predictable cash flow for American Express and a generally quick rebound from recessions.\nImage source: Getty Images.\nBYD Co.: Up 2,789%\nUnquestionably, the most under-the-radar outperformer for Berkshire Hathaway has to be electric-vehicle manufacturer BYD.  Buffett owns the H-Class shares (OTC:BYDD.F) -- he acquired 225 million shares of the Chinese EV producer in 2008 for an average price of $1.03 a share and has since seen those shares climb to nearly $30. That's just your run-of-the-mill 2,789% unrealized gain in roughly 13 years.\nAlthough BYD doesn't play a dividend, Buffett is enjoying the fact that his company got in on the ground floor of the EV shift in China. According to the Society of Automotive Engineers of China, half of all new vehicles sales in 2035 will feature alternative energy, 95% of which are expected to be EVs. China is the largest auto market in the world, which gives BYD a really good chance to carve out substantial market share.\nInitial results have been promising. In May, the company sold 32,800 EVs and plug-in hybrids, 18,711 of which were EVs. Looking just at EVs, this was a 126% increase from May 2020. With growth like this, Buffett's investment lieutenants, Todd Combs and Ted Weschler, are liable to encourage the Oracle of Omaha to hold this position even longer.\nImage source: Getty Images.\nMastercard: Up approximately 1,400%\nAnother quadruple-digit gainer for Buffett's portfolio is payment-processor Mastercard (NYSE:MA).\nWhereas Berkshire Hathaway discloses its cost basis on its top 10 or 15 holdings every year, it doesn't do the same for its smaller holdings by market value, which is where Mastercard finds itself. What we do know is that Buffett and his team began gobbling up shares in the first quarter of 2011. During that quarter, Mastercard was valued between $22 and $25, on a split-adjusted basis. If we just arbitrarily say that $24 is the average buy-in for these shares, Berkshire Hathaway is sitting on an unrealized gain of more than 1,400%, as of this past weekend.\nSimilar to AmEx, Mastercard is a beneficiary of long-winded bull markets. Even though recessions are inevitable, they last for short periods of time, compared to economic expansions. As the No. 2 in credit card network-purchase volume in the U.S. (the largest market in the world for consumption), Mastercard finds itself in an enviable position to take advantage of increased consumer and enterprise spending.\nImage source: Getty Images.\nVisa: Up approximately 1,000%\nFinally, to round things out, we have Mastercard's big brother, Visa (NYSE:V). Like Mastercard, Visa is a smaller holding for Berkshire Hathaway, which means there's no specific cost-basis information.\nWhat we do know is that the Oracle of Omaha and his team acquired shares in the third quarter of 2011. During that time, Visa shares could be purchased for between $19 and $23, on a split-adjusted basis, with an average price during the quarter around $21. Assuming this average is accurate, Berkshire is sitting on an unrealized gain of about 1,000%.\nThe really interesting differentiator for Visa and its peer Mastercard is their choice to avoid lending. While some of their processing peers also lend (AmEx), and are therefore able to generate interest and fee-based income during periods of expansion, these lenders are also exposed to credit delinquencies during economic contractions and recessions. By not lending, Visa and Mastercard don't have to set aside cash to cover delinquencies, which is why they rebound more quickly than other financial stocks after a recession.\nVisa is also the clear kingpin in the U.S. market. As of 2018, Visa controlled 53% of U.S. credit card network-purchase volume. It also closed on the acquisition of Visa Europe in 2016. In short, there's ample opportunity for Visa to continue growing by a low double-digit percentage on an annual basis.","news_type":1},"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372917151,"gmtCreate":1619168022973,"gmtModify":1704720683046,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"This made it to tiger !","listText":"This made it to tiger !","text":"This made it to tiger !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372917151","repostId":"1143062408","repostType":4,"repost":{"id":"1143062408","pubTimestamp":1619162341,"share":"https://ttm.financial/m/news/1143062408?lang=&edition=fundamental","pubTime":"2021-04-23 15:19","market":"sg","language":"en","title":"Singapore Names Wong as New Finance Minister in Cabinet Shake-Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1143062408","media":"Bloomberg","summary":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his ","content":"<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.</p>\n<p>The appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.</p>\n<p>Since founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.</p>\n<p>Though no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the&nbsp;deputy prime minister role&nbsp;to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.</p>\n<p><b>Covid Leadership</b></p>\n<p>Wong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.</p>\n<p>“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.</p>\n<p>Known for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.</p>\n<p>Before his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.</p>\n<p>Wong began his career as a civil servant, later serving as chief executive of the&nbsp;Energy Market Authority&nbsp;and as principal private secretary to Lee.</p>\n<p>Here are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:</p>\n<ul>\n <li>Gan Kim Yong will be trade and industry minister</li>\n <li>S. Iswaran will be transport minister</li>\n <li>Chan Chun Sing will be education minister</li>\n <li>Ong Ye Kung will be health minister</li>\n <li>Josephine Teo will be communications and information minister, and continue as second minister for home affairs</li>\n <li>Tan See Leng will be manpower minister</li>\n</ul>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Names Wong as New Finance Minister in Cabinet Shake-Up</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Names Wong as New Finance Minister in Cabinet Shake-Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 15:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143062408","content_text":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.\nSince founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.\nThough no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the deputy prime minister role to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.\nCovid Leadership\nWong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.\n“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.\nKnown for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.\nBefore his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.\nWong began his career as a civil servant, later serving as chief executive of the Energy Market Authority and as principal private secretary to Lee.\nHere are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:\n\nGan Kim Yong will be trade and industry minister\nS. Iswaran will be transport minister\nChan Chun Sing will be education minister\nOng Ye Kung will be health minister\nJosephine Teo will be communications and information minister, and continue as second minister for home affairs\nTan See Leng will be manpower minister","news_type":1},"isVote":1,"tweetType":1,"viewCount":259,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366625892,"gmtCreate":1614477385416,"gmtModify":1704771949834,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ASTI\">$ASCENT SOLAR TECH INC(ASTI)$</a>Bull run ended hoping for the next","listText":"<a href=\"https://laohu8.com/S/ASTI\">$ASCENT SOLAR TECH INC(ASTI)$</a>Bull run ended hoping for the next","text":"$ASCENT SOLAR TECH INC(ASTI)$Bull run ended hoping for the next","images":[{"img":"https://static.tigerbbs.com/eeff60bf093fb043cc021bd83afc9343","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/366625892","isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":343618630,"gmtCreate":1617712469220,"gmtModify":1704702082179,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Please like","listText":"Please like","text":"Please like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343618630","repostId":"2125757547","repostType":4,"repost":{"id":"2125757547","pubTimestamp":1617610742,"share":"https://ttm.financial/m/news/2125757547?lang=&edition=fundamental","pubTime":"2021-04-05 16:19","market":"us","language":"en","title":"FOMC meeting minutes, Powell speaks: What to know this week","url":"https://stock-news.laohu8.com/highlight/detail?id=2125757547","media":"Yahoo Finance","summary":"Traders returning from the long holiday weekend will turn their attention to more commentary out of ","content":"<p>Traders returning from the long holiday weekend will turn their attention to more commentary out of the Federal Reserve, with the Federal Open Market Committee's latest meeting minutes and a speech from Fed Chair Jerome Powell on deck. Relatively few new economic data reports or corporate earnings results are scheduled for release.</p><p>The FOMC's meeting minutes, due out Wednesday afternoon, will elucidate members' thinking from their March meeting. At the conclusion of that meeting, the central bank's median forecast for economic growth was sharply upwardly revised, reflecting improving growth trends as the trajectory of new COVID-19 infections improved and vaccinations broadened out. The central bank said it expects real GDP to grow 6.5% this year, versus the 4.2% rate it anticipated in December. The Fed also said it sees the unemployment rate improving to 4.5% by year-end before returning to its pre-pandemic level of 3.5% by 2023.</p><p>Despite these improving projections, the Fed still telegraphed that interest rates would likely remain on hold at current near-zero levels through 2023, with the central bank maintaining its ultra-accommodative monetary policy posturing despite a quicker-than-previously-expected economic recovery. Market participants have been wary of this message, with the Fed suggesting a stubborn tilt toward easy monetary policy even in the face of rising inflation. The Fed's latest forecast showed the median member believed core inflation would rise to 2.4% this year, hitting and exceeding the Fed's 2% target two years earlier than previously anticipated.</p><p>Fed Chair Powell said in his mid-March press conference that inflation would need to be \"on track to exceed 2% moderately for some time\" in order for the Fed to consider its inflation goal met and allow for liftoff on rates. However, that assertion has left some room for interpretation by market participants, leading many to speculate the Fed may be pushed to adjust policy sooner than it has recently telegraphed.</p><h2>'Forecast disagreement'</h2><h2></h2><p>According to a recent survey from Deustche Bank, \"The current gap between the market and the Fed is mostly about forecast disagreement. In particular, survey respondents expect that core PCE in the 2.2%-2.3% range in 2022 and 2023 will beget a more hawkish Fed response,\" Deutsche Bank economist Matthew Luzzetti wrote in a note. \"While we learned at the FOMC meeting that 2.1% core PCE [personal consumption expenditures] inflation is not sufficiently high to trigger liftoff, it is still unclear whether inflation rates in the 2.2%-2.3% range — as expected by our survey and market pricing — would be high enough to get the Fed to tighten. This ambiguity is <a href=\"https://laohu8.com/S/AONE\">one</a> drawback of the Fed's flexible average inflation targeting (FAIT) approach which leaves key parameters undefined.\"</p><p>\"If the Fed were to clearly signal that core PCE inflation in the 2.2%-2.3% range for a year or two is consistent with their view of FAIT and would not trigger a tightening of monetary policy, they could impact market pricing,\" he added. \"Conversely, if the FOMC believes they would raise rates in response to these inflation realizations, then the market is currently pricing an appropriate reaction function and it will take some time for a verdict on whether the Fed or market is correct about the persistence of this inflation shock.\"</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e00f01f2ead30a11c8273f332b00d3da\" tg-width=\"6000\" tg-height=\"4000\" referrerpolicy=\"no-referrer\"><span>WASHINGTON, DC - JANUARY 29: Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on January 29, 2020 in Washington, DC. Chairman Powell announced that the Federal Reserve will not be adjusting interest rates. (Photo by Samuel Corum/Getty Images)Samuel Corum via Getty Images</span></p><p>But while the jury appears to be out among market participants when it comes to the timing of the next rate hike, many agree that the first step toward tightening by the Federal Reserve will likely occur in their crisis-era asset purchase program. Fed Chair Powell said that the central bank would be looking for \"substantial further progress\" — and specifically \"actual progress\" in the data and not \"forecast progress\" — toward the Fed's employment and inflation goals before considering tapering.</p><p>Still, with the latest batch of March economic data exceeding estimates, the Fed may soon begin offering up firmer guidance around its plan for tapering the $120 billion per-month asset purchase program, which was first put into place at the start of the pandemic last year.</p><p>\"Financial conditions should remain quite accommodative for a while, and in our view risks an overshoot,\" Rich Rieder, BlackRock chief investment officer, said in a note. \"We think that the Fed should be able to taper asset purchases sooner than many expect and perhaps by the end of the year, or early next year, which suggests to us that communicating its plan could come as early as the June meeting.\"</p><p>While the forthcoming meeting minutes will not take into account FOMC members' appraisal of the latest batch of economic data, it will offer market participants a sense of whether some members were inclined to look past the first signs of a faster-than-expected economic recovery in dictating the direction of monetary policy.</p><p>That said, Fed Chair Powell's public remarks this coming Thursday will offer a more timely view of the central bank's policy thinking. Powell will be speaking at an International Monetary Fund panel on the global economy Thursday afternoon.</p><p>The discussion will come about a week after the Labor Department's March jobs report, which showed a much better than expected gain of 916,000 non-farm payrolls and a dip in the unemployment rate to 6.0%. Plus, last week's Institute for Supply Management's manufacturing purchasing managers' index unexpectedly jumped to a 37-year high, with some survey participants already citing a rise in commodity prices and a supply and demand mismatch that could exacerbate upward price pressures. Market participants will eye Powell's address to see whether or not these prints shift the needle in the Fed's monetary policy projections.</p><p>\"We expect that as the data come in, the volatility in Fed views will become more pronounced over coming months,\" RBC Capital Markets economists wrote in a note last week.</p><h2>Economic calendar</h2><ul><li><p><b>Monday: </b><a href=\"https://laohu8.com/S/MRKT\">Markit</a> U.S. Services PMI, March Final (60.2 expected, 60.0 in prior print); Markit U.S. Composite PMI, March Final (59.1 in prior print); ISM Services Index, March (58.7 expected, 55.3 in February); Factory Orders, February (-0.5% expected, 2.6% in January); Durable Goods Orders, February Final (-1.1% expected, -1.1% in prior print); Durable Goods Orders excluding transportation, February final (-0.9% expected, -0.9% in prior print); Non-defense capital goods orders excluding aircraft, February final (-0.8% in prior print); Non-defense capital goods shipments excluding aircraft, February final (-1.0% in prior print)</p></li><li><p><b>Tuesday:</b> JOLTS Job Openings, February (6.944 million expected, 6.917 million in prior print)</p></li><li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended April 2 (-2.2% during prior week); Trade Balance, February (-$70.5 billion expected, -$68.2 billion in January); Consumer credit, February ($2.800 billion expected, -$1.315 billion in January) FOMC Meeting Minutes, March Meeting</p></li><li><p><b>Thursday: </b>Initial jobless claims, week ended April 3 (690,000 expected, 719,000 during prior week); Continuing claims, week ended March 27 (3.794 million during prior week)</p></li><li><p><b>Friday:</b> Producer Price Index, month-over-month, March (0.5% expected, 0.5% in February); Producer Price Index excluding food and energy, month-over-month, March (0.2% expected, 0.2% in February); Producer Price Index, year-over-year, March (3.8% expected, 2.5% in February); Producer Price Index excluding food and energy year-over-year, March (2.7% expected, 2.5% in February); Wholesale inventories, month-over-month, February final (0.5% expected, 0.5% in prior print)</p></li></ul><h2>Earnings calendar</h2><ul><li><p><b>Monday: </b>N/A</p></li><li><p><b>Tuesday: </b>N/A</p></li><li><p><b>Wednesday:</b> N/A</p></li><li><p><b>Thursday:</b> Constellation Brands (STZ) before market open</p></li><li><p><b>Friday: </b>N/A</p></li></ul>","source":"yahoofinance_au","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>FOMC meeting minutes, Powell speaks: What to know this week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFOMC meeting minutes, Powell speaks: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-05 16:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/fomc-meeting-minutes-powell-speaks-what-to-know-in-the-week-ahead-154814153.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Traders returning from the long holiday weekend will turn their attention to more commentary out of the Federal Reserve, with the Federal Open Market Committee's latest meeting minutes and a speech ...</p>\n\n<a href=\"https://finance.yahoo.com/news/fomc-meeting-minutes-powell-speaks-what-to-know-in-the-week-ahead-154814153.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://finance.yahoo.com/news/fomc-meeting-minutes-powell-speaks-what-to-know-in-the-week-ahead-154814153.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2125757547","content_text":"Traders returning from the long holiday weekend will turn their attention to more commentary out of the Federal Reserve, with the Federal Open Market Committee's latest meeting minutes and a speech from Fed Chair Jerome Powell on deck. Relatively few new economic data reports or corporate earnings results are scheduled for release.The FOMC's meeting minutes, due out Wednesday afternoon, will elucidate members' thinking from their March meeting. At the conclusion of that meeting, the central bank's median forecast for economic growth was sharply upwardly revised, reflecting improving growth trends as the trajectory of new COVID-19 infections improved and vaccinations broadened out. The central bank said it expects real GDP to grow 6.5% this year, versus the 4.2% rate it anticipated in December. The Fed also said it sees the unemployment rate improving to 4.5% by year-end before returning to its pre-pandemic level of 3.5% by 2023.Despite these improving projections, the Fed still telegraphed that interest rates would likely remain on hold at current near-zero levels through 2023, with the central bank maintaining its ultra-accommodative monetary policy posturing despite a quicker-than-previously-expected economic recovery. Market participants have been wary of this message, with the Fed suggesting a stubborn tilt toward easy monetary policy even in the face of rising inflation. The Fed's latest forecast showed the median member believed core inflation would rise to 2.4% this year, hitting and exceeding the Fed's 2% target two years earlier than previously anticipated.Fed Chair Powell said in his mid-March press conference that inflation would need to be \"on track to exceed 2% moderately for some time\" in order for the Fed to consider its inflation goal met and allow for liftoff on rates. However, that assertion has left some room for interpretation by market participants, leading many to speculate the Fed may be pushed to adjust policy sooner than it has recently telegraphed.'Forecast disagreement'According to a recent survey from Deustche Bank, \"The current gap between the market and the Fed is mostly about forecast disagreement. In particular, survey respondents expect that core PCE in the 2.2%-2.3% range in 2022 and 2023 will beget a more hawkish Fed response,\" Deutsche Bank economist Matthew Luzzetti wrote in a note. \"While we learned at the FOMC meeting that 2.1% core PCE [personal consumption expenditures] inflation is not sufficiently high to trigger liftoff, it is still unclear whether inflation rates in the 2.2%-2.3% range — as expected by our survey and market pricing — would be high enough to get the Fed to tighten. This ambiguity is one drawback of the Fed's flexible average inflation targeting (FAIT) approach which leaves key parameters undefined.\"\"If the Fed were to clearly signal that core PCE inflation in the 2.2%-2.3% range for a year or two is consistent with their view of FAIT and would not trigger a tightening of monetary policy, they could impact market pricing,\" he added. \"Conversely, if the FOMC believes they would raise rates in response to these inflation realizations, then the market is currently pricing an appropriate reaction function and it will take some time for a verdict on whether the Fed or market is correct about the persistence of this inflation shock.\"WASHINGTON, DC - JANUARY 29: Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on January 29, 2020 in Washington, DC. Chairman Powell announced that the Federal Reserve will not be adjusting interest rates. (Photo by Samuel Corum/Getty Images)Samuel Corum via Getty ImagesBut while the jury appears to be out among market participants when it comes to the timing of the next rate hike, many agree that the first step toward tightening by the Federal Reserve will likely occur in their crisis-era asset purchase program. Fed Chair Powell said that the central bank would be looking for \"substantial further progress\" — and specifically \"actual progress\" in the data and not \"forecast progress\" — toward the Fed's employment and inflation goals before considering tapering.Still, with the latest batch of March economic data exceeding estimates, the Fed may soon begin offering up firmer guidance around its plan for tapering the $120 billion per-month asset purchase program, which was first put into place at the start of the pandemic last year.\"Financial conditions should remain quite accommodative for a while, and in our view risks an overshoot,\" Rich Rieder, BlackRock chief investment officer, said in a note. \"We think that the Fed should be able to taper asset purchases sooner than many expect and perhaps by the end of the year, or early next year, which suggests to us that communicating its plan could come as early as the June meeting.\"While the forthcoming meeting minutes will not take into account FOMC members' appraisal of the latest batch of economic data, it will offer market participants a sense of whether some members were inclined to look past the first signs of a faster-than-expected economic recovery in dictating the direction of monetary policy.That said, Fed Chair Powell's public remarks this coming Thursday will offer a more timely view of the central bank's policy thinking. Powell will be speaking at an International Monetary Fund panel on the global economy Thursday afternoon.The discussion will come about a week after the Labor Department's March jobs report, which showed a much better than expected gain of 916,000 non-farm payrolls and a dip in the unemployment rate to 6.0%. Plus, last week's Institute for Supply Management's manufacturing purchasing managers' index unexpectedly jumped to a 37-year high, with some survey participants already citing a rise in commodity prices and a supply and demand mismatch that could exacerbate upward price pressures. Market participants will eye Powell's address to see whether or not these prints shift the needle in the Fed's monetary policy projections.\"We expect that as the data come in, the volatility in Fed views will become more pronounced over coming months,\" RBC Capital Markets economists wrote in a note last week.Economic calendarMonday: Markit U.S. Services PMI, March Final (60.2 expected, 60.0 in prior print); Markit U.S. Composite PMI, March Final (59.1 in prior print); ISM Services Index, March (58.7 expected, 55.3 in February); Factory Orders, February (-0.5% expected, 2.6% in January); Durable Goods Orders, February Final (-1.1% expected, -1.1% in prior print); Durable Goods Orders excluding transportation, February final (-0.9% expected, -0.9% in prior print); Non-defense capital goods orders excluding aircraft, February final (-0.8% in prior print); Non-defense capital goods shipments excluding aircraft, February final (-1.0% in prior print)Tuesday: JOLTS Job Openings, February (6.944 million expected, 6.917 million in prior print)Wednesday: MBA Mortgage Applications, week ended April 2 (-2.2% during prior week); Trade Balance, February (-$70.5 billion expected, -$68.2 billion in January); Consumer credit, February ($2.800 billion expected, -$1.315 billion in January) FOMC Meeting Minutes, March MeetingThursday: Initial jobless claims, week ended April 3 (690,000 expected, 719,000 during prior week); Continuing claims, week ended March 27 (3.794 million during prior week)Friday: Producer Price Index, month-over-month, March (0.5% expected, 0.5% in February); Producer Price Index excluding food and energy, month-over-month, March (0.2% expected, 0.2% in February); Producer Price Index, year-over-year, March (3.8% expected, 2.5% in February); Producer Price Index excluding food and energy year-over-year, March (2.7% expected, 2.5% in February); Wholesale inventories, month-over-month, February final (0.5% expected, 0.5% in prior print)Earnings calendarMonday: N/ATuesday: N/AWednesday: N/AThursday: Constellation Brands (STZ) before market openFriday: N/A","news_type":1},"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320948408,"gmtCreate":1615004570704,"gmtModify":1704778134272,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BMIX\">$Brazil Minerals, Inc.(BMIX)$</a>Persevere the end isnear! Don’t lose faith&nbsp;","listText":"<a href=\"https://laohu8.com/S/BMIX\">$Brazil Minerals, Inc.(BMIX)$</a>Persevere the end isnear! Don’t lose faith&nbsp;","text":"$Brazil Minerals, Inc.(BMIX)$Persevere the end isnear! Don’t lose faith","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/320948408","isVote":1,"tweetType":1,"viewCount":15,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573892196251086","authorId":"3573892196251086","name":"Hustlerzz","avatar":"https://static.tigerbbs.com/9ebc1090f9e0a4c229b9a4376e39ad0c","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3573892196251086","idStr":"3573892196251086"},"content":"still waiting for green. lol","text":"still waiting for green. lol","html":"still waiting for green. lol"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387964688,"gmtCreate":1613711002344,"gmtModify":1704883953658,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Corporate&nbsp;collaboration - the maximum penalty if any would be a petty fine and this would be old news.&nbsp;","listText":"Corporate&nbsp;collaboration - the maximum penalty if any would be a petty fine and this would be old news.&nbsp;","text":"Corporate collaboration - the maximum penalty if any would be a petty fine and this would be old news.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/387964688","repostId":"1185112339","repostType":4,"repost":{"id":"1185112339","pubTimestamp":1613703936,"share":"https://ttm.financial/m/news/1185112339?lang=&edition=fundamental","pubTime":"2021-02-19 11:05","market":"us","language":"en","title":"Robinhood, Citadel fight conspiracies ahead of GameStop grilling","url":"https://stock-news.laohu8.com/highlight/detail?id=1185112339","media":"Bloomberg","summary":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted market","content":"<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.</p>\n<p>Robinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".</p>\n<p>Robinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.</p>\n<p>Ken Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.</p>\n<p>\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.</p>\n<p>Digging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.</p>\n<p>Citadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.</p>\n<p>Thursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.</p>\n<p>Chairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.</p>\n<p>Gabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.</p>\n<p>\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"</p>\n<p>'DIFFICULT TIME'</p>\n<p>Mr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.</p>\n<p>Even though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.</p>\n<p>Melvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.</p>\n<p>Keith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.</p>\n<p>Mr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.</p>\n<p>\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"</p>\n<p>Jennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.</p>\n<p>In his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.</p>\n<p>Because the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.</p>\n<p>Around 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.</p>\n<p>To help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.</p>\n<p>Mr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Robinhood, Citadel fight conspiracies ahead of GameStop grilling</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\">\nRobinhood, Citadel fight conspiracies ahead of GameStop grilling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 11:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185112339","content_text":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.\nRobinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".\nRobinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.\nKen Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.\n\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.\nDigging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.\nCitadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.\nThursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.\nChairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.\nGabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.\n\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"\n'DIFFICULT TIME'\nMr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.\nEven though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.\nMelvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.\nKeith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.\nMr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.\n\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"\nJennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.\nIn his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.\nBecause the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.\nAround 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.\nTo help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.\nMr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":9,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574747299650124","authorId":"3574747299650124","name":"alicialjw","avatar":"https://static.tigerbbs.com/75446939ff21a7803eb236a4c6a5395c","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574747299650124","idStr":"3574747299650124"},"content":"Willing to bet so","text":"Willing to bet so","html":"Willing to bet so"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382512267,"gmtCreate":1613466537359,"gmtModify":1704880735894,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Great summary writer","listText":"Great summary writer","text":"Great summary writer","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/382512267","repostId":"1168066718","repostType":4,"repost":{"id":"1168066718","pubTimestamp":1613462601,"share":"https://ttm.financial/m/news/1168066718?lang=&edition=fundamental","pubTime":"2021-02-16 16:03","market":"sg","language":"en","title":"Singapore Adds to Spending Spree to Drive Recovery from Covid","url":"https://stock-news.laohu8.com/highlight/detail?id=1168066718","media":"Bloomberg","summary":"Singapore said it plans to spend S$11 billion($8.3 billion) to speed up the recovery of households a","content":"<p>Singapore said it plans to spend&nbsp;S$11 billion($8.3 billion) to speed up the recovery of households and businesses after the economy suffered&nbsp;its worst year&nbsp;since independence.</p><p>Deputy Prime Minister Heng Swee Keat, delivering the measures Tuesday in his budget speech to Parliament,notedthat the global recovery will be long and uneven across sectors.</p><p>The address comes after Singapore’s economy endured its&nbsp;biggest-ever&nbsp;contraction in 2020, with gross domestic product shrinking 5.4%. Growth is expected to rebound to 4%-6% this year, but the outlook remains challenging for some important sectors including aviation, transport and hospitality.</p><p><img src=\"https://static.tigerbbs.com/04445caa30ade9b31251a57e0e018fea\" tg-width=\"968\" tg-height=\"553\" referrerpolicy=\"no-referrer\"></p><p>Normally fiscally conservative, the challenges of the pandemic will force the city-state to run an overall budget deficit again, though narrower than the record high of 13.9% of gross domestic product in the 2020 financial year.</p><p>That compares with the&nbsp;global average&nbsp;for overall fiscal deficits of 11.8% of GDP in 2020 and 8.5% in 2021, according to International Monetary Fund projections. Before Heng’s remarks, analysts in a Bloomberg survey had projected the deficit would narrow to 4% in the financial year starting April 1.</p><p>Officials have signaled for months that they were ready to provide more aid after&nbsp;pledging&nbsp;about S$100 billion last year, particularly for vulnerable sectors.</p><p>The narrower deficit expected reflects the impact of&nbsp;earlier tranches of spending, a daily&nbsp;local caseload&nbsp;near zero, a&nbsp;vaccination drive&nbsp;and medium-term concerns about keeping spending more in line with revenue.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Adds to Spending Spree to Drive Recovery from Covid</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Adds to Spending Spree to Drive Recovery from Covid\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-16 16:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-02-16/singapore-adds-to-spending-spree-to-drive-recovery-from-covid><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Singapore said it plans to spend S$11 billion($8.3 billion) to speed up the recovery of households and businesses after the economy suffered its worst year since independence.Deputy Prime Minister ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-02-16/singapore-adds-to-spending-spree-to-drive-recovery-from-covid\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-02-16/singapore-adds-to-spending-spree-to-drive-recovery-from-covid","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168066718","content_text":"Singapore said it plans to spend S$11 billion($8.3 billion) to speed up the recovery of households and businesses after the economy suffered its worst year since independence.Deputy Prime Minister Heng Swee Keat, delivering the measures Tuesday in his budget speech to Parliament,notedthat the global recovery will be long and uneven across sectors.The address comes after Singapore’s economy endured its biggest-ever contraction in 2020, with gross domestic product shrinking 5.4%. Growth is expected to rebound to 4%-6% this year, but the outlook remains challenging for some important sectors including aviation, transport and hospitality.Normally fiscally conservative, the challenges of the pandemic will force the city-state to run an overall budget deficit again, though narrower than the record high of 13.9% of gross domestic product in the 2020 financial year.That compares with the global average for overall fiscal deficits of 11.8% of GDP in 2020 and 8.5% in 2021, according to International Monetary Fund projections. Before Heng’s remarks, analysts in a Bloomberg survey had projected the deficit would narrow to 4% in the financial year starting April 1.Officials have signaled for months that they were ready to provide more aid after pledging about S$100 billion last year, particularly for vulnerable sectors.The narrower deficit expected reflects the impact of earlier tranches of spending, a daily local caseload near zero, a vaccination drive and medium-term concerns about keeping spending more in line with revenue.","news_type":1},"isVote":1,"tweetType":1,"viewCount":35,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355574887,"gmtCreate":1617091893049,"gmtModify":1704801835921,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Danger","listText":"Danger","text":"Danger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/355574887","repostId":"1101398939","repostType":4,"repost":{"id":"1101398939","pubTimestamp":1617091251,"share":"https://ttm.financial/m/news/1101398939?lang=&edition=fundamental","pubTime":"2021-03-30 16:00","market":"us","language":"en","title":"Credit Suisse is said to have lost $3B-$4B on Archegos selloff, FT says","url":"https://stock-news.laohu8.com/highlight/detail?id=1101398939","media":"seekingalpha","summary":"Credit Suisse reportedly lost between $3B and $4B due to theArchegos Capital liquidation, theFT repo","content":"<p>Credit Suisse&nbsp;reportedly lost between $3B and $4B due to theArchegos Capital liquidation, theFT reportedearlier, citingtwo people close to the bank.</p><p>Credit Suisse earlier said that the size of the could be \"highly significant.\" Credit Suisseshares dropped 12%&nbsp;today.</p><p>“While at this time it is premature to quantify the exact size of the loss resulting from this exit, it could be highly significant and material to our first quarter results, notwithstanding the positive trends announced in our trading statement earlier this month,” Credit Suisse said in a statement earlier.</p><p>Nomura(NYSE:NMR)&nbsp;fell&nbsp;14%&nbsp;today after Japanese bank&nbsp;warned of significant losses of potentially $2b from transactions with an unnamed U.S. client.</p><p>Separately,&nbsp; Bill Hwang's Archegos Capital said in a statement that&nbsp;&nbsp;“all plans are being discussed as Mr. Hwang and the team determine the best path forward,\" accordingto Reuters.</p><p>Earlier,Bank stocks pare declines as investors assess hedge fund collapse.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse is said to have lost $3B-$4B on Archegos selloff, FT 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\">\nCredit Suisse is said to have lost $3B-$4B on Archegos selloff, FT says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3677420-credit-suisse-is-said-to-have-lost-3b-4b-on-archegos-trades-ft-says><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Credit Suisse reportedly lost between $3B and $4B due to theArchegos Capital liquidation, theFT reportedearlier, citingtwo people close to the bank.Credit Suisse earlier said that the size of the ...</p>\n\n<a href=\"https://seekingalpha.com/news/3677420-credit-suisse-is-said-to-have-lost-3b-4b-on-archegos-trades-ft-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3957154ffb461512e6e195413fc956a3","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3677420-credit-suisse-is-said-to-have-lost-3b-4b-on-archegos-trades-ft-says","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1101398939","content_text":"Credit Suisse reportedly lost between $3B and $4B due to theArchegos Capital liquidation, theFT reportedearlier, citingtwo people close to the bank.Credit Suisse earlier said that the size of the could be \"highly significant.\" Credit Suisseshares dropped 12% today.“While at this time it is premature to quantify the exact size of the loss resulting from this exit, it could be highly significant and material to our first quarter results, notwithstanding the positive trends announced in our trading statement earlier this month,” Credit Suisse said in a statement earlier.Nomura(NYSE:NMR) fell 14% today after Japanese bank warned of significant losses of potentially $2b from transactions with an unnamed U.S. client.Separately,  Bill Hwang's Archegos Capital said in a statement that  “all plans are being discussed as Mr. Hwang and the team determine the best path forward,\" accordingto Reuters.Earlier,Bank stocks pare declines as investors assess hedge fund collapse.","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325131483,"gmtCreate":1615873047742,"gmtModify":1704787761791,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Topics to address:1. Regulating&nbsp;speculative counters like GME/AMC&nbsp;2. Roles of SPACs versus IPOs3. Digital currencies like crypto&nbsp;","listText":"Topics to address:1. Regulating&nbsp;speculative counters like GME/AMC&nbsp;2. Roles of SPACs versus IPOs3. Digital currencies like crypto&nbsp;","text":"Topics to address:1. Regulating speculative counters like GME/AMC 2. Roles of SPACs versus IPOs3. Digital currencies like crypto","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/325131483","repostId":"1105988154","repostType":4,"repost":{"id":"1105988154","pubTimestamp":1615853416,"share":"https://ttm.financial/m/news/1105988154?lang=&edition=fundamental","pubTime":"2021-03-16 08:10","market":"us","language":"en","title":"Why this week’s Fed meeting could be ‘March madness’ for markets","url":"https://stock-news.laohu8.com/highlight/detail?id=1105988154","media":"cnbc","summary":"KEY POINTS\n\nWith the economy about to boom, the Fed’s easy policies will be in the spotlight Wednesd","content":"<div>\n<p>KEY POINTS\n\nWith the economy about to boom, the Fed’s easy policies will be in the spotlight Wednesday when Fed Chairman Jerome Powell speaks to the press after the Fed’s two-day meeting.\nThe Fed will...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/15/why-this-weeks-fed-meeting-could-be-march-madness-for-markets.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why this week’s Fed meeting could be ‘March madness’ for markets</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 this week’s Fed meeting could be ‘March madness’ for markets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-16 08:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/15/why-this-weeks-fed-meeting-could-be-march-madness-for-markets.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nWith the economy about to boom, the Fed’s easy policies will be in the spotlight Wednesday when Fed Chairman Jerome Powell speaks to the press after the Fed’s two-day meeting.\nThe Fed will...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/15/why-this-weeks-fed-meeting-could-be-march-madness-for-markets.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/15/why-this-weeks-fed-meeting-could-be-march-madness-for-markets.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1105988154","content_text":"KEY POINTS\n\nWith the economy about to boom, the Fed’s easy policies will be in the spotlight Wednesday when Fed Chairman Jerome Powell speaks to the press after the Fed’s two-day meeting.\nThe Fed will release new economic and interest rate forecasts, which could show Fed officials expect to raise rates by 2023.\nBlackRock’s Rick Rieder said Powell’s briefing could be “exciting to see” and the Fed meeting could be the central bank’s “March Madness” for markets, since the chairman could begin to reveal some views on the future path of Fed policy.\n\nOdds are high the Fed will move markets this week, no matter how hard it tries not to.\nWith the surge in interest rates and rebounding economy, the Fed’s easy policies are in the spotlight, and increasingly the question has become when will it consider unwinding them. Fed Chairman Jerome Powellis likely to be asked questions about the Fed’s low interest rate policies and asset purchases during his press briefing, following the Fed’s two-day meeting that concludes Wednesday.\nPowell is unlikey to be specific but what he says could rock the already volatile bond market, and that in turn could drive stocks. It could particularly hit growth stocks, if bond yields begin to rise.\n“I think the last press conference, I think I watched with one eye, and listened with one ear. This one I’m going to be tuned in to every word, and the markets are going to be tuned in to every word,” said Rick Rieder, BlackRock’s CIO for global fixed income. “If he says nothing, it will move markets. If he says a lot it will move markets.”\nRieder said the briefing should be “exciting to see,” and a challenge for the Fed to potentially begin changing communications on its policy. He said investors will be parsing every word. “This will be the March Madness,” for the markets, he said, referring to the highly anticipated collegiate basketball tournament.\nPowell clearly has the ball, and what he decides to say Wednesday will dictate to edgy markets how soon the Fed might consider paring back its bond buying and even raising interest rates from zero.\nStatement to stay mostly the same\nThe Federal Open Market Committee will release its statement at 2 p.m. ET Wednesday, after the meeting, and Fed watchers expect little change in the text.\nBut the Fed also releases officials’ latest forecasts for the economy and interest rates. That could show that most officials would be ready to raise the fed funds target rate range from zero in 2023, and a few members may even be ready to raise rates next year.\n“We think they will sound a bit more optimistic but still cautious. That said, we think it will be hard for them to sound as dovish as they have been just because the facts on the ground are improving,” said Mark Cabana, head of U.S. short-rate strategy at Bank of America. “As a result of that, we think they’re going to sound a little less accommodative than the market is expecting. We think they’re likely to show a hike at the end of 2023.”\nRieder said the Fed’s been steadily steering its easing programs, but now it needs to begin to communicate that it expects to change policy on both asset purchases and interest rates. He said the Fed has been explicit in that it would provide plenty of time between when it starts communicating change and when it acts.\n“It strikes me it’s time,” he said. Rieder said his out-of-consensus view is that the Fed could start tapering back its bond buying in September or December, and it needs to begin discussing that now. The Fed buys $80 billion a month of Treasurys and $40 billion a month of mortgages.\nHe also said the Fed could also start raising short-term interest rates next year without hurting the economy. The Fed has not forecast any interest rate hikes until after 2023, but that could change in its latest forecast.\n“They can’t raise short interest rates this year, but as you get into the second and third quarter of next year, not raising short-term interest rates would be incongruous with what their economic projections should be,” Rieder said.\nRates on the rise\nThe Fed meets against a back drop of rate volatility in the more typically staid Treasury market. Over the past six weeks, the 10-year yield,which influences mortgage rates and other loans, has risen from 1.07% to a high of 1.64% last Friday. It was at 1.6% Monday.\nThe yield, which moves opposite price, has been reacting to a more upbeat view of the economy, based on the vaccine rollout and Washington’s stimulus spending. It has also reacted to the idea that inflation could pick up as the economy roars back. Powell has said the Fed expects to see just a temporary jump in inflation measures in the spring because of the depressed prices during the economic shutdown last year.\n“They’ve got to start that communication ... the markets are waiting for it,” Rieder said. “The jumpiness of rates and the volatility in the market is because we haven’t heard their plan yet.”\nRieder said the Fed could raise interest rates while it is still buying bonds. He said it may want to shift its purchases more towards the long end to keep longer term rates low, since they impact mortgages and other loans.\n“In their economic projections, their employment projections for next year is probably going to be 4%. If that’s right, why not? Raising short-end interest rates and draining some liquidity out of the front part of the yield curve is not a problem,” he said.\n“Times like these call for creativity and innovation,” Rieder said. “They’ve been remarkably innovative. They’ve provided so much liquidity to the system, the front end is awash in liquidity and yields are too low, in an environment where you could have 7% growth this year.”.\nIn the last forecast, five of 17 members expected a rate hike in 2023, and just one forecast a hike in 2022. Fed officials provide their rate forecasts anonymously, on a so-called dot plot.\nThe Fed has said it would continue its bond purchases until it’s made “substantial progress” towards its goals.\nCabana said there could be a few officials who now forecast a hike for 2022, but he doesn’t expect the Fed to embrace that yet. The fed funds futures market is pricing in close to one hike in 2022 and three hikes by the end of 2023.\n“You think if the market is pricing that, and the Fed doesn’t deliver, the market should be disappointed. We actually think many in the market think the Fed will push back, and the Fed will tell the market it’s wrong,” said Cabana. “We don’t think so. We think the Fed will retain the optionality of having the market price in a rosier outlook. Does the Fed hope the market is right, or they’re right? The Fed is hoping the market is right because it wants to achieve its goal sooner. We don’t think the Fed is going to push back too hard.”\nThe Fed could say “substantive progress is still some time away,” Cabana said. He said he does expect the Fed at some point to change the duration of bonds it is buying and shift towards the long end to keep those rates, like the 10-year, from rising too much.","news_type":1},"isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":381323361,"gmtCreate":1612933704153,"gmtModify":1704876189830,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"enioyed this piece especially the idea of closing half your position! I believe this is here to stay -&nbsp;Embracing the new age investment mantra, I would caution to avoid&nbsp;controversial counters for genuine investors!","listText":"enioyed this piece especially the idea of closing half your position! I believe this is here to stay -&nbsp;Embracing the new age investment mantra, I would caution to avoid&nbsp;controversial counters for genuine investors!","text":"enioyed this piece especially the idea of closing half your position! I believe this is here to stay - Embracing the new age investment mantra, I would caution to avoid controversial counters for genuine investors!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/381323361","repostId":"1149038980","repostType":4,"repost":{"id":"1149038980","pubTimestamp":1612864337,"share":"https://ttm.financial/m/news/1149038980?lang=&edition=fundamental","pubTime":"2021-02-09 17:52","market":"us","language":"en","title":"These 12 lessons from the GameStop and AMC frenzy can help you make money trading stocks (or at least lose less)","url":"https://stock-news.laohu8.com/highlight/detail?id=1149038980","media":"MarketWatch","summary":"I can hear the cries from investors who racked up huge profits in GameStop or AMC Entertainment Hold","content":"<p>I can hear the cries from investors who racked up huge profits in GameStop&nbsp;or AMC Entertainment Holdings&nbsp;for a few hours or days, only to watch their gains evaporate.</p>\n<p>This coordinated bull raid was initiated by thousands of retail investors on Reddit, a popular website forum. We heard stories of fortunes made and lost. The ones we didn’t hear were from the folks in-between — small retail traders and investors who suffered thousands of dollars (or more) in losses.</p>\n<p>For those still holding GME or AMC, or for those eager to pounce on the next volatile meme stock, I offer the following advice based on personal experience and observations. These are the lessons you must know before you ever get involved in the stock or options market (or if you are holding a winning stock or option):</p>\n<p><b>1. Don’t sell stocks or options on products you don’t own:</b>The traders who lost the most money in GameStop and AMC were those who sold “naked” calls and puts (i.e. they sold options on stocks they didn’t own), or those who sold shares short (again, they sold shares on a stock they didn’t own). When using this extremely risky strategy, you can make a fortune if you’re right. If you’re wrong, the losses can be incalculable. In reality, some unwary traders lost tens of thousands of dollars last week on positions that cost a few thousand dollars. Once again, don’t sell anything naked unless you’re a professional, and in this case even the pros lost big on that risky bet.</p>\n<p><b>2. Sell at the “zero point.”</b>&nbsp; Here’s a rule I created: If you have huge gains that disappear and you are at the zero point (i.e. break-even), sell before you have real losses. It’s better to walk away at zero than with losses.</p>\n<p><b>3. Don’t be a stubborn seller:</b>Why is it so hard for most traders to walk away at the zero point? Stubbornness. Many traders made huge gains last week only to watch those profits disappear. They refused to sell because they hoped to make their money back. If holding options, that’s not going to happen. (If you bought at or near the high, your money is gone. If you hold a stock, plan to wait months or even years to recover. Stubborn stockholders often end up as “stuckholders.”</p>\n<p><b>4. Take the money and run:</b>When you are holding a stock or option position that brings outsized profits, either sell half of your holding or all of it — but get out. I call this “selling at extremes.” Sell something when the profits are beyond your wildest expectations. We all know the story of the gambler who wins big at the casino, but doesn’t leave the table until all his money is gone. Know when to walk away from the computer. Profits are fleeting, especially when volatility skyrockets.</p>\n<p><b>5.Trade small when making longshot trades (i.e. gambling):</b>GameStop and AMC were both big gambles, and for a time the trade worked if you were long. But if you bet wrong? I spoke to a few of these traders. One lost $8,000 on a single option contract. If he had traded his normal size (30 contracts), he told me, his losses would have been more than $240,000.</p>\n<p><b>6. Don’t expect this trading frenzy to keep happening:</b>It’s possible that a group of traders on the Reddit forum will band together for more bear- or bull raids. Except Treasury Secretary Janet Yellen and Fed Chair Jerome Powell are most likely creating new rules to prevent this from repeating. The Fed hates volatility and will do everything in its power to keep the markets calm. So once again, when you make big money on a trade, take the money as fast as you can — because you may not get the chance again.</p>\n<p><b>7. Stop bragging about how much money you made</b>: Many traders who won big immediately bragged on social media (and to their jealous friends) about how much money they made on this trade. Yet the euphoric feeling they had was temporary. It usually goes away after all the money is gone. The smart (and polite) traders took their gains and kept the win to themselves</p>\n<p><b>8. Use a time stop:</b>Time stops are not well-known or popular, but with fast-moving stocks (or when trading options), they are invaluable. In an extremely fast market, the traditional stop-limit order won’t get filled, as many of those meme-stock traders found out the hard way. Instead, after making a huge profit, set a day or time to sell. For example, you may sell the position by Friday no matter what (although selling at extremes is better — see Rule #4).</p>\n<p><b>9. Sell half or all of the position:</b>It’s never an easy decision to know when to sell. If you sell too early, it’s annoying to watch the stock go higher. Sell too late and you lose money. Selling half of your holding is a reasonable alternative, but you must be prepared to sell the other half if the position goes against you.</p>\n<p><b>10. Don’t seek revenge when you lose money on a stock:</b>It’s common for traders to seek revenge on a stock they lost money on. Do not fall for this emotional trap. If you lost money on a stock, let it go and move on.</p>\n<p><b>11. Trade small after you made or lost big:</b>If you’re feeling emotional about a stock, including feelings of anger or revenge, trade small. Many people who hit it big in the market can’t help but make bigger and bigger bets. Just like the gamblers at a casino, they keep trading until all their money is gone.</p>\n<p>You don’t think it can happen to you? One of the greatest speculators in the world, Jesse Livermore, made $100 million dollars in a single week in 1929. He then lost all of his money within five years. He should have moved most of his profits out of the market after his big win and traded small for the next year. Instead, he got reckless and lost it all.</p>\n<p><b>12. Don’t take on too much risk:</b>Never invest or trade with so much money that if you lost, you’d lose your house or 401(k). Brokers told me about clients who cleared out their retirement funds or took cash advances on their credit cards so they could buy GameStop and AMC. Some won, some lost, but many took on way too much risk.</p>\n<p><b>The meme-stock pyramid scheme</b></p>\n<p>Those who traded GameStop, AMC and other meme stocks thought they were trading, but they were actually participating in a gigantic pyramid scheme. Those who got in early and got out early probably did well. Those who entered late or held too long lost money.</p>\n<p>My advice: Review these 12 rules periodically. They are based on the experiences and the bad luck of thousands of other traders, including myself, who thought we were smarter than the market. In truth the market was smarter than us — because it always is.</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>These 12 lessons from the GameStop and AMC frenzy can help you make money trading stocks (or at least lose less)</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese 12 lessons from the GameStop and AMC frenzy can help you make money trading stocks (or at least lose less)\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-09 17:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/these-12-lessons-from-the-gamestop-and-amc-frenzy-can-help-you-make-money-trading-stocks-or-at-least-lose-less-11612771522?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>I can hear the cries from investors who racked up huge profits in GameStop or AMC Entertainment Holdings for a few hours or days, only to watch their gains evaporate.\nThis coordinated bull raid was ...</p>\n\n<a href=\"https://www.marketwatch.com/story/these-12-lessons-from-the-gamestop-and-amc-frenzy-can-help-you-make-money-trading-stocks-or-at-least-lose-less-11612771522?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","AMC":"AMC院线",".DJI":"道琼斯",".SPX":"S&P 500 Index","GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/these-12-lessons-from-the-gamestop-and-amc-frenzy-can-help-you-make-money-trading-stocks-or-at-least-lose-less-11612771522?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1149038980","content_text":"I can hear the cries from investors who racked up huge profits in GameStop or AMC Entertainment Holdings for a few hours or days, only to watch their gains evaporate.\nThis coordinated bull raid was initiated by thousands of retail investors on Reddit, a popular website forum. We heard stories of fortunes made and lost. The ones we didn’t hear were from the folks in-between — small retail traders and investors who suffered thousands of dollars (or more) in losses.\nFor those still holding GME or AMC, or for those eager to pounce on the next volatile meme stock, I offer the following advice based on personal experience and observations. These are the lessons you must know before you ever get involved in the stock or options market (or if you are holding a winning stock or option):\n1. Don’t sell stocks or options on products you don’t own:The traders who lost the most money in GameStop and AMC were those who sold “naked” calls and puts (i.e. they sold options on stocks they didn’t own), or those who sold shares short (again, they sold shares on a stock they didn’t own). When using this extremely risky strategy, you can make a fortune if you’re right. If you’re wrong, the losses can be incalculable. In reality, some unwary traders lost tens of thousands of dollars last week on positions that cost a few thousand dollars. Once again, don’t sell anything naked unless you’re a professional, and in this case even the pros lost big on that risky bet.\n2. Sell at the “zero point.”  Here’s a rule I created: If you have huge gains that disappear and you are at the zero point (i.e. break-even), sell before you have real losses. It’s better to walk away at zero than with losses.\n3. Don’t be a stubborn seller:Why is it so hard for most traders to walk away at the zero point? Stubbornness. Many traders made huge gains last week only to watch those profits disappear. They refused to sell because they hoped to make their money back. If holding options, that’s not going to happen. (If you bought at or near the high, your money is gone. If you hold a stock, plan to wait months or even years to recover. Stubborn stockholders often end up as “stuckholders.”\n4. Take the money and run:When you are holding a stock or option position that brings outsized profits, either sell half of your holding or all of it — but get out. I call this “selling at extremes.” Sell something when the profits are beyond your wildest expectations. We all know the story of the gambler who wins big at the casino, but doesn’t leave the table until all his money is gone. Know when to walk away from the computer. Profits are fleeting, especially when volatility skyrockets.\n5.Trade small when making longshot trades (i.e. gambling):GameStop and AMC were both big gambles, and for a time the trade worked if you were long. But if you bet wrong? I spoke to a few of these traders. One lost $8,000 on a single option contract. If he had traded his normal size (30 contracts), he told me, his losses would have been more than $240,000.\n6. Don’t expect this trading frenzy to keep happening:It’s possible that a group of traders on the Reddit forum will band together for more bear- or bull raids. Except Treasury Secretary Janet Yellen and Fed Chair Jerome Powell are most likely creating new rules to prevent this from repeating. The Fed hates volatility and will do everything in its power to keep the markets calm. So once again, when you make big money on a trade, take the money as fast as you can — because you may not get the chance again.\n7. Stop bragging about how much money you made: Many traders who won big immediately bragged on social media (and to their jealous friends) about how much money they made on this trade. Yet the euphoric feeling they had was temporary. It usually goes away after all the money is gone. The smart (and polite) traders took their gains and kept the win to themselves\n8. Use a time stop:Time stops are not well-known or popular, but with fast-moving stocks (or when trading options), they are invaluable. In an extremely fast market, the traditional stop-limit order won’t get filled, as many of those meme-stock traders found out the hard way. Instead, after making a huge profit, set a day or time to sell. For example, you may sell the position by Friday no matter what (although selling at extremes is better — see Rule #4).\n9. Sell half or all of the position:It’s never an easy decision to know when to sell. If you sell too early, it’s annoying to watch the stock go higher. Sell too late and you lose money. Selling half of your holding is a reasonable alternative, but you must be prepared to sell the other half if the position goes against you.\n10. Don’t seek revenge when you lose money on a stock:It’s common for traders to seek revenge on a stock they lost money on. Do not fall for this emotional trap. If you lost money on a stock, let it go and move on.\n11. Trade small after you made or lost big:If you’re feeling emotional about a stock, including feelings of anger or revenge, trade small. Many people who hit it big in the market can’t help but make bigger and bigger bets. Just like the gamblers at a casino, they keep trading until all their money is gone.\nYou don’t think it can happen to you? One of the greatest speculators in the world, Jesse Livermore, made $100 million dollars in a single week in 1929. He then lost all of his money within five years. He should have moved most of his profits out of the market after his big win and traded small for the next year. Instead, he got reckless and lost it all.\n12. Don’t take on too much risk:Never invest or trade with so much money that if you lost, you’d lose your house or 401(k). Brokers told me about clients who cleared out their retirement funds or took cash advances on their credit cards so they could buy GameStop and AMC. Some won, some lost, but many took on way too much risk.\nThe meme-stock pyramid scheme\nThose who traded GameStop, AMC and other meme stocks thought they were trading, but they were actually participating in a gigantic pyramid scheme. Those who got in early and got out early probably did well. Those who entered late or held too long lost money.\nMy advice: Review these 12 rules periodically. They are based on the experiences and the bad luck of thousands of other traders, including myself, who thought we were smarter than the market. In truth the market was smarter than us — because it always is.","news_type":1},"isVote":1,"tweetType":1,"viewCount":3,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128723431,"gmtCreate":1624532782123,"gmtModify":1703839569079,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"High risk high returns","listText":"High risk high returns","text":"High risk high returns","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/128723431","repostId":"1112175042","repostType":4,"repost":{"id":"1112175042","pubTimestamp":1624526935,"share":"https://ttm.financial/m/news/1112175042?lang=&edition=fundamental","pubTime":"2021-06-24 17:28","market":"us","language":"en","title":"Move Over AMC, Make Way for This New Wave of 7 Favorite Meme Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1112175042","media":"InvestorPlace","summary":"Here are seven shares that could move to meme stock status soon.\n\nMeme stocks are among the hottest ","content":"<blockquote>\n <b>Here are seven shares that could move to meme stock status soon.</b>\n</blockquote>\n<p>Meme stocks are among the hottest topics on Wall Street. As a result, such shares have seen a significant surge in trading activity, often fueled by social media platforms like<b>Reddit</b>&nbsp;and<b>Twitter</b>&nbsp;(NYSE:<b>TWTR</b>). And because the prices of meme stocks tend to skyrocket in a matter of sessions, the mouthwatering returns seem to attract more and more risk takers by the day.</p>\n<p>For instance,<b>AMC Entertainment Holdings</b>(NYSE:<b><u>AMC</u></b>) boasts a year-to-date (YTD) gain of about 2,650%, soaring as much as 561% in January alone. Therefore, today’s article discusses seven stocks thatmay gain traction on social mediasoon and become meme stocks as well.</p>\n<p>Right now, retail investors seem eager toboost their favorite meme stocksafter realizing the magnitude of their collective power. They usually target stocks with significant short interest to squeeze institutional investors into covering their short positions.</p>\n<p>According to<b>S3 Partners</b>data, investors searching for meme stock candidates may find over 2,000 firms with a market cap of at least $100 million and short interest of 15% or more. Therefore, we could be looking at a retail investor crusade with considerable impact on the stock market.</p>\n<p>While these rallies can generate lucrative returns in a short period, most meme stocks are highly volatile. They are valued for their social media popularity rather than their financial performance. Therefore, investors should exercise caution as such shares would not be suitable for all portfolios.</p>\n<p>With that information, we have identified seven firms poised to build up meme stock status in the near term:</p>\n<ul>\n <li><b>Arrival</b>(NASDAQ:<b>ARVL</b>)</li>\n <li><b>Clean Energy Fuels</b>&nbsp;(NASDAQ:<b>CLNE</b>)</li>\n <li><b>Koss</b>(NASDAQ:<b><u>KOSS</u></b>)</li>\n <li><b>Pitney Bowes</b>&nbsp;(NYSE:<b>PBI</b>)</li>\n <li><b>Rocket Companies</b>&nbsp;(NYSE:<b>RKT</b>)</li>\n <li><b>UWM Holdings</b>&nbsp;(NYSE:<b>UWMC</b>)</li>\n <li><b>Zynga</b>&nbsp;(NASDAQ:<b><u>ZNGA</u></b>)</li>\n</ul>\n<p><b>Meme Stocks to Watch:Arrival (ARVL)</b><img src=\"https://static.tigerbbs.com/f52a9acd3d239abec555a714ef2e0170\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: Shutterstock</p>\n<p><b>52-week range:</b>$9.80 – $37.18</p>\n<p>British electric vehicle (EV) manufacturerArrivalwent public in March after merging with with CIIG Merger Corp, a special purpose acquisition company (SPAC). Arrival is a pre-revenue business focusing on the production of commercial electric vehicle vans and buses.</p>\n<p>The group claims to be reinventing the automotive industry with its unique approach to building micro-factories near potential customers in metro areas. For instance, the first U.S. micro-factory, in York County, South Carolina, is scheduled to produce electric buses from the fourth quarter of 2021. “The talk is of 1,000 battery buses per year,”&nbsp;<i>Electrive.com</i>reported.</p>\n<p>Arrival announcedQ1 financial resultson May 13. Adjusted EBITDA loss was 27 million EUR ($32.3 million) compared to 14 million EUR in the prior-year period. Adjusted loss per share was 16 cents EUR. Cash and equivalents ended the first quarter at 516 million EUR.</p>\n<p>The current capital expenditure projection stands at $50 million. Management noted the second U.S. micro-factory will be built in Charlotte, North Carolina and the first European van micro-factory will be located in Spain.</p>\n<p>“We are fully focused on executing our business plan to bring our microfactories to multiple cities and markets to serve their communities and accelerate the transition to zero-emission transportation. We continue to expect to have four vehicles — the bus, van, large van, and car — on the market by the end of 2023,” said CEO Denis Sverdlov in theearnings update.</p>\n<p>The EV group plans to start production of the “Arrival Bus” by Q4. Public road trials of its bus are expected to begin this fall with<b>First Bus</b>, one of the U.K.’s largest transport operators.</p>\n<p>Meme stock communitiesnoticed that about 7% of Arrival’s public share float was sold short, as of May 28. ARVL stock jumped more than 15% in mid-June due to the social media frenzy by Reddit users. The share price currently hovers around $18, down 36% YTD.</p>\n<p><b>Clean Energy Fuels (CLNE)</b><img src=\"https://static.tigerbbs.com/d0b07c87f30d7554c902c122359e6802\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: ZikG / Shutterstock.com</p>\n<p><b>52-week range:</b>$2.01 – $19.79</p>\n<p>Newport Beach, California-based Clean Energy Fuels is natural gas marketer and retailer in the U.S. and Canada. The company delivers renewable natural gas (RNG) via liquefied natural gas (LNG) and compressed natural gas (CNG) to its network of fueling stations. In addition, it builds LNG and CNG fueling stations for the transportation market, operating a network of 570 stations in both countries.</p>\n<p>The company announcedQ1&nbsp;resultsin early May. Total revenue fell 10.3% year-over-year (YoY) to $77.1 million. Net loss was $7.2 million in the first quarter. Non-GAAP loss per share remained flat YoY at 1 cent. Cash and equivalents stood at $117 million at the end of the quarter.</p>\n<p>CEO Andrew J. Littlefair expressed his satisfaction with the results despite the ongoing effects of the pandemic. Clean Energy Fuels seems well aligned with the Biden administration’s plans to reduce the country’s carbon emissions over the next decade. In addition, CLNE signed a five-year agreement with<b>Amazon</b>&nbsp;(NASDAQ:AMZN) to provide RNG at 27 of its existing fueling stations and another 19 in the near future.</p>\n<p>The stock soared by more than 30% onJune 8 as a new meme stock candidatebefore plunging 15% on the next day. CLNE stock currently trades at $11.80 territory, up almost 50% YTD. On a a price-to-sales (P/S) basis, shares currently trade at 8.29x.</p>\n<p><b>Koss (KOSS)</b><img src=\"https://static.tigerbbs.com/e25898dc300636bdc7e126636b69b71c\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: SiljeAO / Shutterstock.com</p>\n<p><b>52-week range:</b>$1.32 – $127.45</p>\n<p>Milwaukee, Wisconsin-based Koss manufactures and sells stereo headphones, wireless Bluetooth speakers, telecommunications headsets, and related accessories. Its history goes back to the 1950’s.</p>\n<p>In mid-May, the company releasedQ3metrics for the quarter ended March 31. Revenue was $4 million, a 17% decrease from the prior-year period. Net loss increased to $474,168 compared to $97,373 last year. Diluted loss per share was 6 cents compared to 1 cent a year ago.</p>\n<p>“The business has shifted away from a concentration in mass market retailers to more consumer direct, specialty and distributor based channels. The net decline in the quarter’s sales revenue can largely be attributed to the sporadic service disruptions of freight carriers.” remarked CEO Michael J. Koss.</p>\n<p>KOSS stock started 2021 with a 480% surge on January 27 before plunging back over the next three days.The meme stock jumped againon June 2 by almost 70% before entering a corrective decline. The shares currently hover around $23, up more than 550% YTD, and trade at 11.81 times sales.</p>\n<p><b>Pitney Bowes (PBI)</b><img src=\"https://static.tigerbbs.com/da269c5f1b56d3bf0996c5ced5e86acf\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: Shutterstock</p>\n<p><b>52-week range:</b>$16.22 – $41.10</p>\n<p>Stamford, Connecticut-based Pitney Bowes offers mailing and commerce solutions that also include cross-border e-commerce logistics as well as analytics. Clients worldwide include 90% of the Fortune 500 businesses.</p>\n<p>Pitney Bowes announced&nbsp;Q1 resultsin early May. Revenue of $915 million represented a 15% YoY growth. However, the bottom line remained in the red. Net loss was $31.6 million. Adjusted earnings per share (EPS) was 7 cents, up from 5 cents in the prior-year quarter. Cash and equivalents came at $681 million.</p>\n<p>CEO Marc B. Lautenbach remarked, “Revenue continued to demonstrate strong growth, every business improved its EBIT performance from the prior year, and we strengthened our balance sheet.”</p>\n<p>PBI stock soared 51% in January, as the company found itself caught up in the short squeeze craze. However, the stock later plunged in early February despite having just announced surprisingly strong sales results. PBI stock currently hovers slightly above $8, up almost 32% YTD.</p>\n<p>Pitney Bowes expects annual revenue to grow in the low-to-mid single-digit range during 2021. Its forward P/E and current P/S ratios stand at 23.15 and 0.38, respectively.</p>\n<p><b>Rocket Companies (RKT)</b><img src=\"https://static.tigerbbs.com/eff519cd6be619f516f01777d706a90c\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: Lori Butcher / Shutterstock.com</p>\n<p><b>52-week range:</b>$16.22 – $41.10</p>\n<p>Detroit, Michigan-based Rocket is the parent company ofRocket Mortgage, formerly known as Quicken Loans. The financial services group consists of tech-driven real estate, mortgage, and e-commerce businesses. In addition to Rocket Mortgage, the largest mortgage lender stateside, the company has expanded to complementary industries, such as real estate services, auto sales and personal lending. The company went public in August 2020.</p>\n<p>In mid-May, Rocket released itsQ1 2021 figures. Top line for the first quarter was $4.6 billion indicating 236% YoY growth. The company has profited generously from low interest rates. Net earnings surged by 28x and stood at $2.8 billion. Adjusted diluted EPS was 89 cents. Closed loan origination volume of $103.5 billion and net rate lock volume of $95.1 billion represented 100% and 70% YoY improvement, respectively.</p>\n<p>CEO Jay Farner stated, “This was the sixth consecutive quarter where our team was able to double the company’s home loan volume year-over-year.”</p>\n<p>Despite an impressive performance, this is one meme stock that does not trade at an astronomical valuation. Analysts have been debating whether the shares should be priced as a consumer or financial company rather than a technology platform as the company would like to increasingly promote itself.</p>\n<p>Reddit group r/WallStreetBets noticed significant short interestin the company and pushed the stock price up to almost $42 in early March. RKT stock currently hovers around $19.50 territory, down nearly 4% YTD.</p>\n<p>The mortgage refinancing market is expected to slow in 2021. Investors are increasingly worried about a potential increase in interest rates given the recent update from the Fed. RKT stock’s forward P/E and current P/B ratios stand at 9.00 and 4.78, respectively.</p>\n<p><b>UWM Holdings (UWMC)</b><img src=\"https://static.tigerbbs.com/fc9d9d460808b03a1b7b500c9372cc59\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: Shutterstock</p>\n<p><b>52-week range:</b>$6.25 – $14.38</p>\n<p><b>Dividend yield:</b>4.20%</p>\n<p>Pontiac, Michigan-based UWM Holdings is the publicly traded indirect parent of United Wholesale Mortgage (UWM), a leading wholesale lender stateside. It underwrites and provides closing documentation for residential mortgage loans originated by independent mortgage brokers, correspondents, small banks, and local credit unions.</p>\n<p>UWMC announcedQ1&nbsp;earningsin early May. Revenue increased more than 160% YoY to $1.2 billion. Net earnings stood at $48 million, or 33 cents per share. Loan volume originations were $49.1 billion, representing a 16% YoY increase from the prior-year quarter. The total gain margin was 219 basis points (bps) in the first quarter compared to 95 bps in the prior-year quarter.</p>\n<p>CEO Mat Ishbia said, “The first quarter of 2021 was not only the best first quarter in our 35-year history, it also marked our first quarter as a public company and solidified our foundation for growth.”</p>\n<p>The period of easy refinancing activity that began with the pandemic seems to be slowing down along with rising interest rates. Analysts are concerned that the next several quarters could therefore be difficult for the whole industry.</p>\n<p>UWMC stock surged morethan 10% on June 9 due to attention from the meme stock community on Reddit. The stock currently trades at $9.50 territory, down more than 27% YTD. The shares are trading at 8.06x their book value.</p>\n<p><b>Zynga (ZNGA)</b><img src=\"https://static.tigerbbs.com/6457f9133e5ba18814f10b7d2d00317c\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: 360b / Shutterstock.com</p>\n<p><b>52-week range:</b>$7.77 – $12.32</p>\n<p>San Francisco, California-based gaming group Zynga develops and markets games played on mobile platforms and social media platforms like<b>Facebook</b>(NASDAQ:<b><u>FB</u></b>). The company generates revenue through mobile game downloads, in-game sales of virtual goods, and advertising services.</p>\n<p>Recent years have seen impressive growth in the video game space, in part driven by mobile games. Metricssuggestthat the industry will be worth :$200 Billion by 2023. The biggest areas of growth are in Latin America and APAC, ” or Asia-Pacific, led by China.</p>\n<p>Zynga announcedQ1numbersin early May. Total revenue was $680 million, up 68.4% YoY. However, the bottom line remained in the red with a $23 million loss. Diluted loss per share was 2 cents for the quarter. Cash and equivalents ended Q1 at $700 million.</p>\n<p>CEO Frank Gibeau said, “We are off to an excellent start in 2021, delivering record Q1 results ahead of guidance and generating strong momentum across all aspects of our growth strategy. Our tremendous quarterly revenue and bookings were driven by breakout performances from our live services, new games, and hyper-casual portfolio.”</p>\n<p>The Street highlights that ZNGA stock boasts growth drivers such as international growth and multiplatform games. Surging sales in China led to a 67% YoY rise in international revenue. Management updated revenue guidance to $2.7 billion for the full year, implying 37% YoY growth, thanks to its new game releases and significant growth from its advertising business. 2021 year-end net loss guidance stands at $135 million.</p>\n<p>Recent days saw a peer,<b>Corsair Gaming</b>(NASDAQ:<b><u>CRSR</u></b>) join the ranks of meme stocks. Various social media groups hype it as the next millionaire-maker stock. Therefore, Zynga shares could well follow suit.</p>\n<p>ZNGA stock currently hovers around $10.30, up almost 5% YTD. Despite its net loss guidance, ZNGA stock trades at 43.48x its forward P/E, higher than<b>Activision Blizzard’s</b>&nbsp;(NASDAQ:<b>ATVI</b>) forward P/E at 25.32. ZNGA stock’s P/S ratio stands at 4.81.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Move Over AMC, Make Way for This New Wave of 7 Favorite Meme Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMove Over AMC, Make Way for This New Wave of 7 Favorite Meme Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 17:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/06/move-over-amc-make-way-for-this-new-wave-of-7-favorite-meme-stocks/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Here are seven shares that could move to meme stock status soon.\n\nMeme stocks are among the hottest topics on Wall Street. As a result, such shares have seen a significant surge in trading activity, ...</p>\n\n<a href=\"https://investorplace.com/2021/06/move-over-amc-make-way-for-this-new-wave-of-7-favorite-meme-stocks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PBI":"必能宝","RKT":"Rocket Companies","ZNGA":"Zynga","KOSS":"高斯电子","UWMC":"UWM Holdings Corporation","CLNE":"Clean Energy Fuels Corp"},"source_url":"https://investorplace.com/2021/06/move-over-amc-make-way-for-this-new-wave-of-7-favorite-meme-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112175042","content_text":"Here are seven shares that could move to meme stock status soon.\n\nMeme stocks are among the hottest topics on Wall Street. As a result, such shares have seen a significant surge in trading activity, often fueled by social media platforms likeReddit andTwitter (NYSE:TWTR). And because the prices of meme stocks tend to skyrocket in a matter of sessions, the mouthwatering returns seem to attract more and more risk takers by the day.\nFor instance,AMC Entertainment Holdings(NYSE:AMC) boasts a year-to-date (YTD) gain of about 2,650%, soaring as much as 561% in January alone. Therefore, today’s article discusses seven stocks thatmay gain traction on social mediasoon and become meme stocks as well.\nRight now, retail investors seem eager toboost their favorite meme stocksafter realizing the magnitude of their collective power. They usually target stocks with significant short interest to squeeze institutional investors into covering their short positions.\nAccording toS3 Partnersdata, investors searching for meme stock candidates may find over 2,000 firms with a market cap of at least $100 million and short interest of 15% or more. Therefore, we could be looking at a retail investor crusade with considerable impact on the stock market.\nWhile these rallies can generate lucrative returns in a short period, most meme stocks are highly volatile. They are valued for their social media popularity rather than their financial performance. Therefore, investors should exercise caution as such shares would not be suitable for all portfolios.\nWith that information, we have identified seven firms poised to build up meme stock status in the near term:\n\nArrival(NASDAQ:ARVL)\nClean Energy Fuels (NASDAQ:CLNE)\nKoss(NASDAQ:KOSS)\nPitney Bowes (NYSE:PBI)\nRocket Companies (NYSE:RKT)\nUWM Holdings (NYSE:UWMC)\nZynga (NASDAQ:ZNGA)\n\nMeme Stocks to Watch:Arrival (ARVL)Source: Shutterstock\n52-week range:$9.80 – $37.18\nBritish electric vehicle (EV) manufacturerArrivalwent public in March after merging with with CIIG Merger Corp, a special purpose acquisition company (SPAC). Arrival is a pre-revenue business focusing on the production of commercial electric vehicle vans and buses.\nThe group claims to be reinventing the automotive industry with its unique approach to building micro-factories near potential customers in metro areas. For instance, the first U.S. micro-factory, in York County, South Carolina, is scheduled to produce electric buses from the fourth quarter of 2021. “The talk is of 1,000 battery buses per year,” Electrive.comreported.\nArrival announcedQ1 financial resultson May 13. Adjusted EBITDA loss was 27 million EUR ($32.3 million) compared to 14 million EUR in the prior-year period. Adjusted loss per share was 16 cents EUR. Cash and equivalents ended the first quarter at 516 million EUR.\nThe current capital expenditure projection stands at $50 million. Management noted the second U.S. micro-factory will be built in Charlotte, North Carolina and the first European van micro-factory will be located in Spain.\n“We are fully focused on executing our business plan to bring our microfactories to multiple cities and markets to serve their communities and accelerate the transition to zero-emission transportation. We continue to expect to have four vehicles — the bus, van, large van, and car — on the market by the end of 2023,” said CEO Denis Sverdlov in theearnings update.\nThe EV group plans to start production of the “Arrival Bus” by Q4. Public road trials of its bus are expected to begin this fall withFirst Bus, one of the U.K.’s largest transport operators.\nMeme stock communitiesnoticed that about 7% of Arrival’s public share float was sold short, as of May 28. ARVL stock jumped more than 15% in mid-June due to the social media frenzy by Reddit users. The share price currently hovers around $18, down 36% YTD.\nClean Energy Fuels (CLNE)Source: ZikG / Shutterstock.com\n52-week range:$2.01 – $19.79\nNewport Beach, California-based Clean Energy Fuels is natural gas marketer and retailer in the U.S. and Canada. The company delivers renewable natural gas (RNG) via liquefied natural gas (LNG) and compressed natural gas (CNG) to its network of fueling stations. In addition, it builds LNG and CNG fueling stations for the transportation market, operating a network of 570 stations in both countries.\nThe company announcedQ1 resultsin early May. Total revenue fell 10.3% year-over-year (YoY) to $77.1 million. Net loss was $7.2 million in the first quarter. Non-GAAP loss per share remained flat YoY at 1 cent. Cash and equivalents stood at $117 million at the end of the quarter.\nCEO Andrew J. Littlefair expressed his satisfaction with the results despite the ongoing effects of the pandemic. Clean Energy Fuels seems well aligned with the Biden administration’s plans to reduce the country’s carbon emissions over the next decade. In addition, CLNE signed a five-year agreement withAmazon (NASDAQ:AMZN) to provide RNG at 27 of its existing fueling stations and another 19 in the near future.\nThe stock soared by more than 30% onJune 8 as a new meme stock candidatebefore plunging 15% on the next day. CLNE stock currently trades at $11.80 territory, up almost 50% YTD. On a a price-to-sales (P/S) basis, shares currently trade at 8.29x.\nKoss (KOSS)Source: SiljeAO / Shutterstock.com\n52-week range:$1.32 – $127.45\nMilwaukee, Wisconsin-based Koss manufactures and sells stereo headphones, wireless Bluetooth speakers, telecommunications headsets, and related accessories. Its history goes back to the 1950’s.\nIn mid-May, the company releasedQ3metrics for the quarter ended March 31. Revenue was $4 million, a 17% decrease from the prior-year period. Net loss increased to $474,168 compared to $97,373 last year. Diluted loss per share was 6 cents compared to 1 cent a year ago.\n“The business has shifted away from a concentration in mass market retailers to more consumer direct, specialty and distributor based channels. The net decline in the quarter’s sales revenue can largely be attributed to the sporadic service disruptions of freight carriers.” remarked CEO Michael J. Koss.\nKOSS stock started 2021 with a 480% surge on January 27 before plunging back over the next three days.The meme stock jumped againon June 2 by almost 70% before entering a corrective decline. The shares currently hover around $23, up more than 550% YTD, and trade at 11.81 times sales.\nPitney Bowes (PBI)Source: Shutterstock\n52-week range:$16.22 – $41.10\nStamford, Connecticut-based Pitney Bowes offers mailing and commerce solutions that also include cross-border e-commerce logistics as well as analytics. Clients worldwide include 90% of the Fortune 500 businesses.\nPitney Bowes announced Q1 resultsin early May. Revenue of $915 million represented a 15% YoY growth. However, the bottom line remained in the red. Net loss was $31.6 million. Adjusted earnings per share (EPS) was 7 cents, up from 5 cents in the prior-year quarter. Cash and equivalents came at $681 million.\nCEO Marc B. Lautenbach remarked, “Revenue continued to demonstrate strong growth, every business improved its EBIT performance from the prior year, and we strengthened our balance sheet.”\nPBI stock soared 51% in January, as the company found itself caught up in the short squeeze craze. However, the stock later plunged in early February despite having just announced surprisingly strong sales results. PBI stock currently hovers slightly above $8, up almost 32% YTD.\nPitney Bowes expects annual revenue to grow in the low-to-mid single-digit range during 2021. Its forward P/E and current P/S ratios stand at 23.15 and 0.38, respectively.\nRocket Companies (RKT)Source: Lori Butcher / Shutterstock.com\n52-week range:$16.22 – $41.10\nDetroit, Michigan-based Rocket is the parent company ofRocket Mortgage, formerly known as Quicken Loans. The financial services group consists of tech-driven real estate, mortgage, and e-commerce businesses. In addition to Rocket Mortgage, the largest mortgage lender stateside, the company has expanded to complementary industries, such as real estate services, auto sales and personal lending. The company went public in August 2020.\nIn mid-May, Rocket released itsQ1 2021 figures. Top line for the first quarter was $4.6 billion indicating 236% YoY growth. The company has profited generously from low interest rates. Net earnings surged by 28x and stood at $2.8 billion. Adjusted diluted EPS was 89 cents. Closed loan origination volume of $103.5 billion and net rate lock volume of $95.1 billion represented 100% and 70% YoY improvement, respectively.\nCEO Jay Farner stated, “This was the sixth consecutive quarter where our team was able to double the company’s home loan volume year-over-year.”\nDespite an impressive performance, this is one meme stock that does not trade at an astronomical valuation. Analysts have been debating whether the shares should be priced as a consumer or financial company rather than a technology platform as the company would like to increasingly promote itself.\nReddit group r/WallStreetBets noticed significant short interestin the company and pushed the stock price up to almost $42 in early March. RKT stock currently hovers around $19.50 territory, down nearly 4% YTD.\nThe mortgage refinancing market is expected to slow in 2021. Investors are increasingly worried about a potential increase in interest rates given the recent update from the Fed. RKT stock’s forward P/E and current P/B ratios stand at 9.00 and 4.78, respectively.\nUWM Holdings (UWMC)Source: Shutterstock\n52-week range:$6.25 – $14.38\nDividend yield:4.20%\nPontiac, Michigan-based UWM Holdings is the publicly traded indirect parent of United Wholesale Mortgage (UWM), a leading wholesale lender stateside. It underwrites and provides closing documentation for residential mortgage loans originated by independent mortgage brokers, correspondents, small banks, and local credit unions.\nUWMC announcedQ1 earningsin early May. Revenue increased more than 160% YoY to $1.2 billion. Net earnings stood at $48 million, or 33 cents per share. Loan volume originations were $49.1 billion, representing a 16% YoY increase from the prior-year quarter. The total gain margin was 219 basis points (bps) in the first quarter compared to 95 bps in the prior-year quarter.\nCEO Mat Ishbia said, “The first quarter of 2021 was not only the best first quarter in our 35-year history, it also marked our first quarter as a public company and solidified our foundation for growth.”\nThe period of easy refinancing activity that began with the pandemic seems to be slowing down along with rising interest rates. Analysts are concerned that the next several quarters could therefore be difficult for the whole industry.\nUWMC stock surged morethan 10% on June 9 due to attention from the meme stock community on Reddit. The stock currently trades at $9.50 territory, down more than 27% YTD. The shares are trading at 8.06x their book value.\nZynga (ZNGA)Source: 360b / Shutterstock.com\n52-week range:$7.77 – $12.32\nSan Francisco, California-based gaming group Zynga develops and markets games played on mobile platforms and social media platforms likeFacebook(NASDAQ:FB). The company generates revenue through mobile game downloads, in-game sales of virtual goods, and advertising services.\nRecent years have seen impressive growth in the video game space, in part driven by mobile games. Metricssuggestthat the industry will be worth :$200 Billion by 2023. The biggest areas of growth are in Latin America and APAC, ” or Asia-Pacific, led by China.\nZynga announcedQ1numbersin early May. Total revenue was $680 million, up 68.4% YoY. However, the bottom line remained in the red with a $23 million loss. Diluted loss per share was 2 cents for the quarter. Cash and equivalents ended Q1 at $700 million.\nCEO Frank Gibeau said, “We are off to an excellent start in 2021, delivering record Q1 results ahead of guidance and generating strong momentum across all aspects of our growth strategy. Our tremendous quarterly revenue and bookings were driven by breakout performances from our live services, new games, and hyper-casual portfolio.”\nThe Street highlights that ZNGA stock boasts growth drivers such as international growth and multiplatform games. Surging sales in China led to a 67% YoY rise in international revenue. Management updated revenue guidance to $2.7 billion for the full year, implying 37% YoY growth, thanks to its new game releases and significant growth from its advertising business. 2021 year-end net loss guidance stands at $135 million.\nRecent days saw a peer,Corsair Gaming(NASDAQ:CRSR) join the ranks of meme stocks. Various social media groups hype it as the next millionaire-maker stock. Therefore, Zynga shares could well follow suit.\nZNGA stock currently hovers around $10.30, up almost 5% YTD. Despite its net loss guidance, ZNGA stock trades at 43.48x its forward P/E, higher thanActivision Blizzard’s (NASDAQ:ATVI) forward P/E at 25.32. ZNGA stock’s P/S ratio stands at 4.81.","news_type":1},"isVote":1,"tweetType":1,"viewCount":299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375848927,"gmtCreate":1619327088069,"gmtModify":1704722508956,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Exciting week as always-&nbsp;Please like!","listText":"Exciting week as always-&nbsp;Please like!","text":"Exciting week as always- Please like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/375848927","repostId":"1184404050","repostType":4,"repost":{"id":"1184404050","pubTimestamp":1619319329,"share":"https://ttm.financial/m/news/1184404050?lang=&edition=fundamental","pubTime":"2021-04-25 10:55","market":"us","language":"en","title":"What to watch in the markets this week","url":"https://stock-news.laohu8.com/highlight/detail?id=1184404050","media":"CNBC","summary":"The last week of April will be extremely busy for markets with a third of the S&P 500 reporting earnings, a Federal Reserve meeting, and new spending and tax proposals from the White House.Big Tech is a highlight of the earnings calendar, with Apple, Microsoft, Amazon, Facebook and Alphabet all releasing results.The Fed is not expected to take any action, but economists expect it to defend its policy to let inflation run hot.There is some key data including first-quarter gross domestic product a","content":"<div>\n<p>KEY POINTSThe last week of April will be extremely busy for markets with a third of the S&P 500 reporting earnings, a Federal Reserve meeting, and new spending and tax proposals from the White House....</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/taxes-and-inflation-will-be-key-themes-for-markets-in-the-week-ahead.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What to watch in the markets this week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat to watch in the markets this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-25 10:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/taxes-and-inflation-will-be-key-themes-for-markets-in-the-week-ahead.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSThe last week of April will be extremely busy for markets with a third of the S&P 500 reporting earnings, a Federal Reserve meeting, and new spending and tax proposals from the White House....</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/taxes-and-inflation-will-be-key-themes-for-markets-in-the-week-ahead.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","GOOGL":"谷歌A",".DJI":"道琼斯","GOOG":"谷歌","TSLA":"特斯拉","AAPL":"苹果",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/04/23/taxes-and-inflation-will-be-key-themes-for-markets-in-the-week-ahead.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1184404050","content_text":"KEY POINTSThe last week of April will be extremely busy for markets with a third of the S&P 500 reporting earnings, a Federal Reserve meeting, and new spending and tax proposals from the White House.Big Tech is a highlight of the earnings calendar, with Apple, Microsoft, Amazon, Facebook and Alphabet all releasing results.The Fed is not expected to take any action, but economists expect it to defend its policy to let inflation run hot.There is some key data including first-quarter gross domestic product and the Fed’s favorite inflation measure: the personal consumption expenditures deflator.The final week of April is going to be a busy one for markets with a Federal Reserve meeting and a deluge of earnings news.Hot topics in markets will continue to be inflation and taxes.President Joe Biden is expected to detail his “American Families Plan” and the tax increases to pay for it, including a much higher capital gains tax for the wealthy.The plan is the second part of his Build Back Better agenda and will include new spending proposals aimed at helping families. The president addresses a joint session of Congress Wednesday evening.It’s a huge week for earnings with about a third of the S&P 500 reporting, including Big Tech names, such as Apple,Microsoft,Alphabet and Amazon.As many have already done, firms like Boeing, Ford,Caterpillar and McDonald’s, are likely to detail cost pressures they are facing from rising materials and transportation costs and supply chain disruptions.At the same time, the Fed is expected to defend its policy of letting inflation run hot, while assuring markets it sees the pick-up in prices as only temporary. The central bank meets on Tuesday and Wednesday.The central bank takes the main stage“I think the Fed would like not to be a feature next week, but the Fed will be forced from the background because of concerns about inflation,” said Diane Swonk, chief economist at Grant Thornton.The central bank is not expected to make any policy moves, but Fed Chairman Jerome Powell’s press briefing following the meeting Wednesday will be closely watched.So far, the barrage of earnings news has been positive, with 86% of companies reporting earnings beats. Corporate profits are expected to be up about 33.9% for the first quarter, based on estimates and actual reports, according to Refinitiv. Revenues are about 9.9% higher.There is important inflation data Friday when the Fed’s preferred inflation gauge is reported.The personal consumption expenditure report is expected to show a 1.8% rise in core inflation, still below the Fed’s target of 2%. Other data releases include the first-quarter gross domestic product on Thursday, which is expected to have grown by 6.5%, according to Dow Jones.“I think the Fed has no urgency to shift monetary policy at this point,” said Ian Lyngen, head of U.S. rates strategy at BMO. “The Fed needs to acknowledge that the data is improving. We had a strong first quarter.”“The Fed needs to acknowledge that but at the same time they’re keeping extremely accommodative policy in place, so they’ll have to make a note to the fact that the easy policy is warranted,” he said.Lyngen said the Fed will likely point to continued concerns about the pandemic globally as a potential risk to the economic recovery.Powell is also expected to once more explain that the Fed will let inflation rise above its 2% target for a period of time before it raises rates so that the economy can have more time to heal. “It’s going to be a challenge for the Fed,” said Swonk.The base effects for the next several months will make inflation appear to have jumped sharply because of the comparison to a weak period last year. The consumer price index for April could be above 3%, compared to 2.6% last month, Swonk added.“The Fed is trying to let a lot more people get out onto the dance floor before it calls ‘last call,’” she said. “Really what Powell has been saying since day one is if we take care of people on the margins and bring them back into the labor force, the rest will take care of itself.”Stocks were slightly lower in the past week, and Treasury yields held at lower levels. The 10-year yield,which moves opposite price, was at 1.55% Friday.The S&P 500was down 0.1%, ending the week at 4,180, while Nasdaq Composite was down nearly 0.3% at 14,016. The Dow was off just shy of 0.5% at 34,043.Tax hike prospectsStocks were hit hard on Thursday when after a news report said that Biden is expected to propose a capital gains tax rate of 39.6% for people earning more than $1 million a year.Combined with the 3.8% net investment income tax, the new levy would more than double the long term capital gains rate of 20% or the richest Americans.Strategists said Biden is expected to propose raising the income tax rate for those earning more than $400,000.“I think a lot of people are starting to price in the risk there going to be a significant increase in both corporate and capital gains taxes,” said Lyngen.So far, companies have not provided much in the way of commentary on the proposed hike in corporate taxes to 28% from 21% but they have been talking about other costs.David Bianco, chief investment strategist for the Americas at DWS, said he expects larger companies will do better dealing with supply chain constraints than smaller ones. Big Tech is also likely to fare better during the semiconductor shortage than auto makers, which have already announced production shutdowns, he said.“Next week is tech week. I think we’re going to get down on our knees and just be in awe of their business models and their ability to grow at a behemoth scale,” Bianco said.He said he’s not in favor of Wall Street’s popular trade into cyclicals and out of growth. He still favors growth.“We’re overweight equities really because we’re concerned about rising interest rates,” Bianco said. “I’m not bullish in that I expect the market to rise that much from here.”“We stuck with growth and dug deeper into bond substitutes, utilities, staples, real estate,” he said, adding he is underweight industrials, energy and materials. “Energy is doomed. It’s being nationalized via regulation. I do like industrials, they are well-run companies, but I do think infrastructure spending expectations for classic infrastructure are too high.”He also said industrials are good businesses, but the stocks have become overvalued.Bianco said he likes big box stores, but smaller retailers are facing big challenges that were already impacting them prior to Covid. He also finds small biotech firms attractive.“I like healthcare stocks. Those valuations are reasonable. People have been paranoid about politicians beating on them since 1992. They manage through it and lately they’ve been delivering,” he said.Week ahead calendarMondayEarnings:Tesla,Canadian National Railway, Canon,Check Point Software,Otis Worldwide, Vale,Ameriprise,NXP Semiconductor,Albertsons, Royal Phillips8:30 a.m. Durable goodsTuesdayFOMC begins two day meetingEarnings:Microsoft,Alphabet,Visa,Amgen,Advanced Micro Devices,3M,General Electric,Eli Lilly, Hasbro,United Parcel Service,BP,Novartis,JetBlue,Pultegroup,Archer Daniels Midland,Waste Management,Starbucks,Texas Instrument,Chubb,Mondelez,FireEye,Corning,Raytheon9:00 a.m. S&P/Case-Shiller9:00 a.m. FHFA home prices10:00 a.m. Consumer confidence10:00 a.m. Housing vacanciesWednesdayEarnings:Apple, Boeing,Facebook,Qualcomm,Ford,MGM Resorts,Humana,Norfolk Southern,General Dynamics,Boston Scientific, eBay, Samsung Electronics, GlaxoSmithKline,Yum Brands, SiriusXM, Aflac,Cheesecake Factory,Community Health System,CIT Group,Entergy,CME Group,Hess,Ryder System8:30 a.m. Advance economic indicators2:00 p.m. Fed statement2:30 p.m. Fed Chairman Jerome Powell briefingThursdayEarnings:Amazon,Caterpillar,McDonald’s,Twitter,Bristol-Myers Squibb,Comcast,Merck,Northrop Grumman, Airbus,Kraft Heinz,Intercontinental Exchange,Mastercard,Gilead Sciences,U.S. Steel, Cirrus Logic,Texas Roadhouse, Cabot Oil, PG&E,Royal Dutch Shell,Church & Dwight, Carlyle Group,Southern Co.8:30 a.m. Initial jobless claims8:30 a.m. Real GDP Q110:00 a.m. Pending home salesFridayEarnings:ExxonMobil,Chevron,Colgate-Palmolive,AstraZeneca,Clorox,Barclays, AbbVie, BNP Paribas,Weyerhaeuser,Illinois Tool Works, CBOE Global Markets, Lazard,Newell Brands,Aon,LyondellBasell,Pitney Bowes,Phillips 66,Charter Communications8:30 a.m. Personal income and spending8:30 a.m. Employment cost index Q19:45 a.m. Chicago PMI10:00 a.m. Consumer sentimentSaturdayEarnings:Berkshire Hathaway","news_type":1},"isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357616378,"gmtCreate":1617266759194,"gmtModify":1704698027305,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Like and share","listText":"Like and share","text":"Like and share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/357616378","repostId":"2124022412","repostType":4,"repost":{"id":"2124022412","pubTimestamp":1617264000,"share":"https://ttm.financial/m/news/2124022412?lang=&edition=fundamental","pubTime":"2021-04-01 16:00","market":"us","language":"en","title":"NIO Inc. Provides March and First Quarter 2021 Delivery Update","url":"https://stock-news.laohu8.com/highlight/detail?id=2124022412","media":"GlobeNewswire","summary":"NIO delivered 7,257 vehicles in March 2021, increasing by 373% year-over-year. NIO delivered 20,060 vehicles in the three months ended March 2021, increasing by 423% year-over-year. Cumulative deliveries of the ES8, ES6 and EC6 as of March 31, 2021 reached 95,701. SHANGHAI, China, April 01, 2021  -- NIO Inc.  , a pioneer in China’s premium smart electric vehicle market, today provided its March and first quarter 2021 delivery results.NIO delivered 7,257 vehicles in March 2021, a new monthly reco","content":"<ul>\n <li><b><i>NIO delivered 7,257 vehicles in March 2021, increasing by 373% year-over-year</i></b></li>\n <li><b><i>NIO delivered 20,060 vehicles in the three months ended March 2021, increasing by 423% year-over-year</i></b></li>\n <li><b><i>Cumulative deliveries of the ES8, ES6 and EC6 as of March 31, 2021 reached 95,701</i></b></li>\n</ul>\n<p>SHANGHAI, China, April 01, 2021 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today provided its March and first quarter 2021 delivery results.</p>\n<p>NIO delivered 7,257 vehicles in March 2021, a new monthly record representing a strong 373% year-over-year growth. The deliveries consisted of 1,529 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV, 3,152 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 2,576 EC6s, the Company’s 5-seater premium smart electric coupe SUV. NIO delivered 20,060 vehicles in the first quarter of 2021, a new quarterly record representing an increase of 423% year-over-year. As of March 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 95,701 vehicles.</p>\n<p>About NIO Inc.</p>\n<p>NIO Inc. is a pioneer in China’s premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users. NIO designs, jointly manufactures, and sells smart premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive and convenient power solutions, the Battery as a Service (BaaS), NIO Pilot and NIO Autonomous Driving (NAD), Autonomous Driving as a Service (ADaaS) and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV, in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium electric coupe SUV, in December 2019 and began deliveries of the EC6 in September 2020. On January 9, 2021, NIO ET7, the smart electric flagship sedan and NIO’s first autonomous driving model, was officially launched.</p>","source":"yahoofinance","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>NIO Inc. Provides March and First Quarter 2021 Delivery Update</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\">\nNIO Inc. Provides March and First Quarter 2021 Delivery Update\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-01 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/nio-inc-provides-march-first-080000499.html><strong>GlobeNewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NIO delivered 7,257 vehicles in March 2021, increasing by 373% year-over-year\nNIO delivered 20,060 vehicles in the three months ended March 2021, increasing by 423% year-over-year\nCumulative ...</p>\n\n<a href=\"https://finance.yahoo.com/news/nio-inc-provides-march-first-080000499.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","CRCT":"Cricut, Inc.","TERN":"Terns Pharmaceuticals, Inc."},"source_url":"https://finance.yahoo.com/news/nio-inc-provides-march-first-080000499.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2124022412","content_text":"NIO delivered 7,257 vehicles in March 2021, increasing by 373% year-over-year\nNIO delivered 20,060 vehicles in the three months ended March 2021, increasing by 423% year-over-year\nCumulative deliveries of the ES8, ES6 and EC6 as of March 31, 2021 reached 95,701\n\nSHANGHAI, China, April 01, 2021 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today provided its March and first quarter 2021 delivery results.\nNIO delivered 7,257 vehicles in March 2021, a new monthly record representing a strong 373% year-over-year growth. The deliveries consisted of 1,529 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV, 3,152 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 2,576 EC6s, the Company’s 5-seater premium smart electric coupe SUV. NIO delivered 20,060 vehicles in the first quarter of 2021, a new quarterly record representing an increase of 423% year-over-year. As of March 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 95,701 vehicles.\nAbout NIO Inc.\nNIO Inc. is a pioneer in China’s premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users. NIO designs, jointly manufactures, and sells smart premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive and convenient power solutions, the Battery as a Service (BaaS), NIO Pilot and NIO Autonomous Driving (NAD), Autonomous Driving as a Service (ADaaS) and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV, in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium electric coupe SUV, in December 2019 and began deliveries of the EC6 in September 2020. On January 9, 2021, NIO ET7, the smart electric flagship sedan and NIO’s first autonomous driving model, was officially launched.","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369334167,"gmtCreate":1614004116159,"gmtModify":1704886759489,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GTEH\">$GenTech Holdings Inc.(GTEH)$</a>Please fly today","listText":"<a href=\"https://laohu8.com/S/GTEH\">$GenTech Holdings Inc.(GTEH)$</a>Please fly today","text":"$GenTech Holdings Inc.(GTEH)$Please fly today","images":[{"img":"https://static.tigerbbs.com/69f9dc756eeacc57e04e863e654e8ad8","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369334167","isVote":1,"tweetType":1,"viewCount":11,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":348575067,"gmtCreate":1617946935159,"gmtModify":1704705171521,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"Watch inflation","listText":"Watch inflation","text":"Watch inflation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/348575067","repostId":"1147517160","repostType":4,"repost":{"id":"1147517160","pubTimestamp":1617942022,"share":"https://ttm.financial/m/news/1147517160?lang=&edition=fundamental","pubTime":"2021-04-09 12:20","market":"us","language":"en","title":"\"Boom Or Bust For The Economy & Markets\" - JPM Previews The Next 100 Days For Biden","url":"https://stock-news.laohu8.com/highlight/detail?id=1147517160","media":"zerohedge","summary":"On April 7, 2021, JPMorgan hosted two sessions as part of the J.P. Morgan Virtual Investor Seminar a","content":"<p>On April 7, 2021, JPMorgan hosted two sessions as part of the J.P. Morgan Virtual Investor Seminar at the time of the 2021 IMF/WB Spring Meetings featuring external speakers and J.P. Morgan’s Policy Center, Federal Government Relations and Global Research team to discuss the priorities for the Biden administration for the next 100 days and the macro and market implications.</p><p><i>What follows is a summary of the top 10 takeaways of the ideas presented during the seminar by JPMorgan analysts, strategists and economists</i>, as summarized by JPM itself.</p><p><b>1、US growth is entering a boom period with positive spillovers.</b>J.P. Morgan’s Economics Research team estimates US growth will reach 9.5% in 2Q and 8.3% in 3Q before trending down to 6.3% for the year as a whole. Positive spillovers from US imports and a boom of the US economy from financial markets is a positive for the rest of the world, notwithstanding rising interest rates and possibly upward pressure on the dollar. Although vaccine distribution has been uneven across the world, the impending tidal wave of vaccine supply due to a ramp up in production in the next 3-6 months should improve prospects for growth in the rest of the world.</p><p><b>2、The recovery from the pandemic is vastly different from the scarring that took place after the 2008-2009 Global Financial Crisis (GFC) as both the US and China will close the output gap and will likely to be operating above full employment by the end of 2022.</b></p><p>J.P. Morgan’s Economics Research team sees the US unemployment rate reaching 4.5% by year end which is vastly different to a similar point after the GFC where US unemployment was around 9.5%. This time around, the Fed and other central banks will likely remain firmly on hold in raising rates. Another important difference is that the US does not have an overhang of spending and durables, particularly in housing like in the GFC. Instead, there is tailwind from the improvement in household balance sheets where excess savings has been building up. However, emerging markets will bear the brunt of the scarring. Slow vaccination rates and limited fiscal space place EM (ex-China) around 4% below its pre-pandemic growth path.</p><p><b>3、The staggered global economic recovery – led by China last year, moving to the US now, with Europe to come later this year – supports the market recovery and risky assets will continue to benefit.</b></p><p>The scenario for the global environment remains favorable for risky assets backed by above-trend global GDP growth, continued policy support and progress on vaccination and re-opening of economies. It is a blessing in disguise that the global recovery is not synchronized as the staggered rally has prevented broad-based asset bubbles.<b>A synchronized recovery could have meant a likely overshooting of US treasury yields which would have negative implications for valuations of risky asset classes, specifically for equity multiples.</b></p><p>Positioning in risky assets remains below average in a historical context as markets are coming off a record year in market volatility with the VIX recording its highest level in March 2020 that caused broad de-risking across markets. J.P. Morgan’s Equity Strategy Research team expects volatility to decline this year which will contribute to systematic investors’ overall positioning moving higher not just in equity but in other risky assets such as commodities and emerging markets. We continue to favor cyclical sectors and believe that the energy sector remains attractive. While there is a lot of talk about asset bubbles, it is hard to see one in the broad equity market, but certain segments that have more than tripled in price over a short period of time are likely experiencing bubbles, such as innovative ESG&nbsp; sectors like clean energy, solar energy and Electric Vehicles, along with crypto assets and SPACs.</p><p><b>4、Fear of rising inflation is here to stay and the run rate for headline inflation will increase, but delivered inflation continues to lag, and we do not see a regime shift in actual inflation performance.</b></p><p>While markets could continue to test the Fed’s resolve, the messaging will remain clear that the Fed will tolerate an inflation overshoot, and its guidance for liftoff, rate normalization is likely off the table at least through 2022. We have not changed our forecast that the first Fed hike will not occur until early 2024. The recent pickup in headline inflation rates were due largely to jumps in energy prices. While business surveys could signal higher inflation to come, the relationship between the survey price data and future inflation changes generally has been weak.</p><p><b>5、The Biden administration will remain focused on super charging the economy before mid-term elections in 2022 with further spending to be pursued, with passage of the infrastructure bill likely to occur by end-September using budget reconciliation even if tax increases are not approved.</b></p><p>Democrats’ ability to control the Senate and the composition of the House could flip in 2022, and they are looking to take advantage of the current wave of support generated after the passing of the latest stimulus package and rapidly expanding vaccine eligibility to go as big as they can on an infrastructure package. Republicans are also feeling more confident in their standing as picking up seats in the House was unexpected. The outlook for the Senate is more uncertain due to the three pending retirements of Republican senators Roy Blunt (Missouri), Rob Portman (Ohio) and Pat Toomey&nbsp; (Pennsylvania). While Speaker of the House Nancy Pelosi has stated that she would like to see passage of the infrastructure package before the August recess, the hard deadline is likely mid-to-late September. This coincides with the September expiration of the surface transportation legislation known as the FAST Act, as well as the expiration of expanded unemployment benefits from the American Rescue Plan and the July 31 debt ceiling, which all act as deadlines for Congressional action.</p><p><b>6、The recent ruling by the US Senate’s parliamentarian to budget reconciliation procedures have the potential to be a “revolution” in the Senate.</b></p><p>The budget reconciliation process allows for a bill to pass Congress with only 51 votes in the Senate, or 50 votes with the vice president casting the tie-breaking vote. The new ruling means that budget reconciliation is no longer limited to one vote within the fiscal year as revisions of prior budget measures can be proposed, with no limit on the number of revisions.</p><p><b>The implications of this ruling could mean that Democrats could try and pass much of the infrastructure bill, especially the parts pertaining to social equity, through budget reconciliation.</b>(However, Democratic Senators, such as Joe Manchin, have expressed their reservations on using budget reconciliation again this year.)</p><p><b>7、The possibility of gaining approval to raise the corporate tax rate to 28% is highly unlikely to pass with an increase in the 22-24% range more likely.</b></p><p>During the Trump administration, the corporate tax rate in the US was reduced from 35% to the current rate of 21%. The Biden administration has proposed raising the corporate tax rate to 28% and increase the international minimum tax rate that US companies pay on their foreign profits to 21%. The debate on corporate taxes is not a binary choice between 21% vs. 28%. Speakers cautioned that the US corporate tax rate needs to remain globally competitive and that the relative rate is what matters. Including the average 5% tax rate at the state-level raises the US corporate tax to 26%, which is “in the middle of the pack” as the average corporate tax rate for an OECD country is 24%.</p><p><b>If the US corporate tax is raised to 28%, it effectively increases to 33% including state taxes, which is a higher rate than China or Scandinavian countries.</b>This week, Treasury Secretary Yellen made the case for a global minimum corporate tax to address the global competitiveness issue and “avoid a race to the bottom.” The discussion on tax increases is separate from proposals to increase spending. There is no decision about how much of the infrastructure proposal needs to be paid for, or with what specific tax policy change. Nor is there a unified tax agenda and taxes will likely only be raised as much as they need to be raised. Wealth taxes are unlikely to be approved. A reversal of the state and local tax (SALT) cap, which currently hits high income earners the most, will not only be optically unappealing, it is expensive to replace and its expiration date at the end of 2025 makes it less open to debate than other measures. With slim majorities in the Senate and House, Democrats cannot afford to lose a single vote in the Senate and 3-4 votes in the House (though the House number changes daily) and many Democrats will still be hesitant to raise taxes before the 2022 election, when control of both the House and Senate is in play.</p><p><b>8、Markets will remain focused on the risk of a disorderly rise is US bond yields as the projected $3.8trn budget deficit will require $3trn in net new US Treasury supply with ongoing concerns on whether flows will be absorbed smoothly.</b></p><p>We look for higher yields and a steeper curve beyond the 2-year point, and our US Treasury team forecasts the 10-year yield at 1.95% at year-end. Bearish positions are focused on the 7- and 20-year points on the curve that have lacked sponsorship. Discussions on implications of the expiration of the supplementary leverage ratio (SLR) carve-out are ongoing but unresolved, with some calls by former Fed officials to at least exempt the incremental reserves that have accumulated since it began its latest securities purchase program in March 2020 as GSIB banks are among the largest buyers of US Treasuries.</p><p><b>9、Credit markets have been immune to higher rates, equity and commodities volatility in large part due to positive technicals.</b></p><p>While investors remain undecided between whether or not reflation will prove orderly or disorderly, issuance trends seem to reflect a much stronger statement by companies on credit market conditions going forward. Credit markets have been supported by the macroeconomic ‘sugar rush’ associated with the new Biden administration’s spending plans, and US Treasury yields have duly reacted to the specter of inflation. This debate might be entering a new phase, however. The new executive is set to unveil a program of tax increases to pay for its $2trn infrastructure spending plans, which might influence expectations of how quickly said sugar rush might fade. However, the stickiness of secondary market spreads continues to reflect underlying positioning, which does not appear excessively levered or complex. All-in funding costs have likely bottomed and companies are refinancing ‒ especially in loans ‒ and companies unencumbering assets pledged as part of rescue-financing packages last year.</p><p><b>10、Despite the volatility and underperformance of EM FX and local markets, which could persist with the ongoing rise in US rates, EM credit valuations are attractive.</b></p><p>EM credit valuations are attractive and cross-over and high grade investors have been gravitating to holding barbell positions in US and EM credit given attractive pickup (as much as 100bp in yield over US HY) and the low EM HY corporate default rate (JPM 2021F: 2.5%), which is expected around the levels of US HY (2.0%). EM equities haven’t appreciated much over the past decade, and rising 10-year US treasury yields has predominantly been associated with positive absolute returns for EM equities but underperformance to DM equities. Our EM equity strategists have looked back 11 years (since the GFC) and identified periods where the US 10-year yield increased by more than 50bps. During these periods, there was a median USD+3.4% EM equity gain. EM equities produced negative results in only 2 of 8 periods (25%) (See Rising US yield: more friend than foe to EM equities, Pedro Martin Junior, 7 April 2021). US-China tensions will remain in the headlines, but both the US and China have focused on domestic issues rather than each other in recent months. The Biden administration has embraced a multilateral approach to discussions with China, focusing on working with allies and international institutions, and the first meetings have included Japan, Korea and the European Union.</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>\"Boom Or Bust For The Economy & Markets\" - JPM Previews The Next 100 Days For Biden</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Boom Or Bust For The Economy & Markets\" - JPM Previews The Next 100 Days For Biden\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 12:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/boom-or-bust-economy-markets-jpm-previews-next-100-days-biden><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On April 7, 2021, JPMorgan hosted two sessions as part of the J.P. Morgan Virtual Investor Seminar at the time of the 2021 IMF/WB Spring Meetings featuring external speakers and J.P. Morgan’s Policy ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/boom-or-bust-economy-markets-jpm-previews-next-100-days-biden\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/boom-or-bust-economy-markets-jpm-previews-next-100-days-biden","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147517160","content_text":"On April 7, 2021, JPMorgan hosted two sessions as part of the J.P. Morgan Virtual Investor Seminar at the time of the 2021 IMF/WB Spring Meetings featuring external speakers and J.P. Morgan’s Policy Center, Federal Government Relations and Global Research team to discuss the priorities for the Biden administration for the next 100 days and the macro and market implications.What follows is a summary of the top 10 takeaways of the ideas presented during the seminar by JPMorgan analysts, strategists and economists, as summarized by JPM itself.1、US growth is entering a boom period with positive spillovers.J.P. Morgan’s Economics Research team estimates US growth will reach 9.5% in 2Q and 8.3% in 3Q before trending down to 6.3% for the year as a whole. Positive spillovers from US imports and a boom of the US economy from financial markets is a positive for the rest of the world, notwithstanding rising interest rates and possibly upward pressure on the dollar. Although vaccine distribution has been uneven across the world, the impending tidal wave of vaccine supply due to a ramp up in production in the next 3-6 months should improve prospects for growth in the rest of the world.2、The recovery from the pandemic is vastly different from the scarring that took place after the 2008-2009 Global Financial Crisis (GFC) as both the US and China will close the output gap and will likely to be operating above full employment by the end of 2022.J.P. Morgan’s Economics Research team sees the US unemployment rate reaching 4.5% by year end which is vastly different to a similar point after the GFC where US unemployment was around 9.5%. This time around, the Fed and other central banks will likely remain firmly on hold in raising rates. Another important difference is that the US does not have an overhang of spending and durables, particularly in housing like in the GFC. Instead, there is tailwind from the improvement in household balance sheets where excess savings has been building up. However, emerging markets will bear the brunt of the scarring. Slow vaccination rates and limited fiscal space place EM (ex-China) around 4% below its pre-pandemic growth path.3、The staggered global economic recovery – led by China last year, moving to the US now, with Europe to come later this year – supports the market recovery and risky assets will continue to benefit.The scenario for the global environment remains favorable for risky assets backed by above-trend global GDP growth, continued policy support and progress on vaccination and re-opening of economies. It is a blessing in disguise that the global recovery is not synchronized as the staggered rally has prevented broad-based asset bubbles.A synchronized recovery could have meant a likely overshooting of US treasury yields which would have negative implications for valuations of risky asset classes, specifically for equity multiples.Positioning in risky assets remains below average in a historical context as markets are coming off a record year in market volatility with the VIX recording its highest level in March 2020 that caused broad de-risking across markets. J.P. Morgan’s Equity Strategy Research team expects volatility to decline this year which will contribute to systematic investors’ overall positioning moving higher not just in equity but in other risky assets such as commodities and emerging markets. We continue to favor cyclical sectors and believe that the energy sector remains attractive. While there is a lot of talk about asset bubbles, it is hard to see one in the broad equity market, but certain segments that have more than tripled in price over a short period of time are likely experiencing bubbles, such as innovative ESG  sectors like clean energy, solar energy and Electric Vehicles, along with crypto assets and SPACs.4、Fear of rising inflation is here to stay and the run rate for headline inflation will increase, but delivered inflation continues to lag, and we do not see a regime shift in actual inflation performance.While markets could continue to test the Fed’s resolve, the messaging will remain clear that the Fed will tolerate an inflation overshoot, and its guidance for liftoff, rate normalization is likely off the table at least through 2022. We have not changed our forecast that the first Fed hike will not occur until early 2024. The recent pickup in headline inflation rates were due largely to jumps in energy prices. While business surveys could signal higher inflation to come, the relationship between the survey price data and future inflation changes generally has been weak.5、The Biden administration will remain focused on super charging the economy before mid-term elections in 2022 with further spending to be pursued, with passage of the infrastructure bill likely to occur by end-September using budget reconciliation even if tax increases are not approved.Democrats’ ability to control the Senate and the composition of the House could flip in 2022, and they are looking to take advantage of the current wave of support generated after the passing of the latest stimulus package and rapidly expanding vaccine eligibility to go as big as they can on an infrastructure package. Republicans are also feeling more confident in their standing as picking up seats in the House was unexpected. The outlook for the Senate is more uncertain due to the three pending retirements of Republican senators Roy Blunt (Missouri), Rob Portman (Ohio) and Pat Toomey  (Pennsylvania). While Speaker of the House Nancy Pelosi has stated that she would like to see passage of the infrastructure package before the August recess, the hard deadline is likely mid-to-late September. This coincides with the September expiration of the surface transportation legislation known as the FAST Act, as well as the expiration of expanded unemployment benefits from the American Rescue Plan and the July 31 debt ceiling, which all act as deadlines for Congressional action.6、The recent ruling by the US Senate’s parliamentarian to budget reconciliation procedures have the potential to be a “revolution” in the Senate.The budget reconciliation process allows for a bill to pass Congress with only 51 votes in the Senate, or 50 votes with the vice president casting the tie-breaking vote. The new ruling means that budget reconciliation is no longer limited to one vote within the fiscal year as revisions of prior budget measures can be proposed, with no limit on the number of revisions.The implications of this ruling could mean that Democrats could try and pass much of the infrastructure bill, especially the parts pertaining to social equity, through budget reconciliation.(However, Democratic Senators, such as Joe Manchin, have expressed their reservations on using budget reconciliation again this year.)7、The possibility of gaining approval to raise the corporate tax rate to 28% is highly unlikely to pass with an increase in the 22-24% range more likely.During the Trump administration, the corporate tax rate in the US was reduced from 35% to the current rate of 21%. The Biden administration has proposed raising the corporate tax rate to 28% and increase the international minimum tax rate that US companies pay on their foreign profits to 21%. The debate on corporate taxes is not a binary choice between 21% vs. 28%. Speakers cautioned that the US corporate tax rate needs to remain globally competitive and that the relative rate is what matters. Including the average 5% tax rate at the state-level raises the US corporate tax to 26%, which is “in the middle of the pack” as the average corporate tax rate for an OECD country is 24%.If the US corporate tax is raised to 28%, it effectively increases to 33% including state taxes, which is a higher rate than China or Scandinavian countries.This week, Treasury Secretary Yellen made the case for a global minimum corporate tax to address the global competitiveness issue and “avoid a race to the bottom.” The discussion on tax increases is separate from proposals to increase spending. There is no decision about how much of the infrastructure proposal needs to be paid for, or with what specific tax policy change. Nor is there a unified tax agenda and taxes will likely only be raised as much as they need to be raised. Wealth taxes are unlikely to be approved. A reversal of the state and local tax (SALT) cap, which currently hits high income earners the most, will not only be optically unappealing, it is expensive to replace and its expiration date at the end of 2025 makes it less open to debate than other measures. With slim majorities in the Senate and House, Democrats cannot afford to lose a single vote in the Senate and 3-4 votes in the House (though the House number changes daily) and many Democrats will still be hesitant to raise taxes before the 2022 election, when control of both the House and Senate is in play.8、Markets will remain focused on the risk of a disorderly rise is US bond yields as the projected $3.8trn budget deficit will require $3trn in net new US Treasury supply with ongoing concerns on whether flows will be absorbed smoothly.We look for higher yields and a steeper curve beyond the 2-year point, and our US Treasury team forecasts the 10-year yield at 1.95% at year-end. Bearish positions are focused on the 7- and 20-year points on the curve that have lacked sponsorship. Discussions on implications of the expiration of the supplementary leverage ratio (SLR) carve-out are ongoing but unresolved, with some calls by former Fed officials to at least exempt the incremental reserves that have accumulated since it began its latest securities purchase program in March 2020 as GSIB banks are among the largest buyers of US Treasuries.9、Credit markets have been immune to higher rates, equity and commodities volatility in large part due to positive technicals.While investors remain undecided between whether or not reflation will prove orderly or disorderly, issuance trends seem to reflect a much stronger statement by companies on credit market conditions going forward. Credit markets have been supported by the macroeconomic ‘sugar rush’ associated with the new Biden administration’s spending plans, and US Treasury yields have duly reacted to the specter of inflation. This debate might be entering a new phase, however. The new executive is set to unveil a program of tax increases to pay for its $2trn infrastructure spending plans, which might influence expectations of how quickly said sugar rush might fade. However, the stickiness of secondary market spreads continues to reflect underlying positioning, which does not appear excessively levered or complex. All-in funding costs have likely bottomed and companies are refinancing ‒ especially in loans ‒ and companies unencumbering assets pledged as part of rescue-financing packages last year.10、Despite the volatility and underperformance of EM FX and local markets, which could persist with the ongoing rise in US rates, EM credit valuations are attractive.EM credit valuations are attractive and cross-over and high grade investors have been gravitating to holding barbell positions in US and EM credit given attractive pickup (as much as 100bp in yield over US HY) and the low EM HY corporate default rate (JPM 2021F: 2.5%), which is expected around the levels of US HY (2.0%). EM equities haven’t appreciated much over the past decade, and rising 10-year US treasury yields has predominantly been associated with positive absolute returns for EM equities but underperformance to DM equities. Our EM equity strategists have looked back 11 years (since the GFC) and identified periods where the US 10-year yield increased by more than 50bps. During these periods, there was a median USD+3.4% EM equity gain. EM equities produced negative results in only 2 of 8 periods (25%) (See Rising US yield: more friend than foe to EM equities, Pedro Martin Junior, 7 April 2021). US-China tensions will remain in the headlines, but both the US and China have focused on domestic issues rather than each other in recent months. The Biden administration has embraced a multilateral approach to discussions with China, focusing on working with allies and international institutions, and the first meetings have included Japan, Korea and the European Union.","news_type":1},"isVote":1,"tweetType":1,"viewCount":90,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355403662,"gmtCreate":1617092215056,"gmtModify":1704801841434,"author":{"id":"3574372894605246","authorId":"3574372894605246","name":"Jwl","avatar":"https://static.tigerbbs.com/75d01d52381d42f431b0fa8fb5ade3f4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574372894605246","idStr":"3574372894605246"},"themes":[],"htmlText":"BP - we will never know the works behind this, could be a close door manipulation / big contraction on oil demand&nbsp;","listText":"BP - we will never know the works behind this, could be a close door manipulation / big contraction on oil demand&nbsp;","text":"BP - we will never know the works behind this, could be a close door manipulation / big contraction on oil demand","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/355403662","repostId":"1167302622","repostType":4,"repost":{"id":"1167302622","pubTimestamp":1617090381,"share":"https://ttm.financial/m/news/1167302622?lang=&edition=fundamental","pubTime":"2021-03-30 15:46","market":"fut","language":"en","title":"Big Oil’s Secret World of Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1167302622","media":"Bloomberg","summary":"(Bloomberg Markets) -- It was a bleak moment for the oil industry. U.S. shale companies were failing","content":"<p>(Bloomberg Markets) -- It was a bleak moment for the oil industry. U.S. shale companies were failing by the dozen. Petrostates were on the brink of bankruptcy. Texas roughnecks and Kuwaiti princes alike had watched helplessly for months as the commodity that was their lifeblood tumbled to prices that had until recently seemed unthinkable. Below $50 a barrel, then below $40, then below $30.</p>\n<p>But inside the central London headquarters of one of the world’s largest oil companies, there was an air of calm. It was January 2016. Bob Dudley had been at the helm of BP Plc for six years. He ought to have had as much reason to panic as anyone in the rest of his industry. The unflashy American had been predicting lower prices for months. He was being proved right, though that was hardly a reason to celebrate.</p>\n<p>Unlike most of his peers, Dudley was no passive observer. At the heart of BP, far removed from the sprawling network of oil fields, refineries, and service stations that the company is known for, sits a vast trading unit, combining the logistical prowess of an air traffic control center with the master-of-the-universe swagger of a macro hedge fund. And, unknown to all but a few company insiders, BP’s traders had spotted, in the teeth of the oil price collapse, an opportunity.</p>\n<p>Over the course of 2015, Dudley had acquired a reputation as the oil industry’s Cassandra. Oil prices had been under pressure ever since Saudi Arabia launched a price war against U.S. shale producers a year earlier. When crude prices started falling, he confidently predicted they would remain “lower for longer.” A few months later, he went further. Oil prices, he said, were due to stay “lower for even longer.”</p>\n<p>On Jan. 20, 2016, the price of Brent crude oil plunged to $27.10 a barrel, the lowest in more than a decade. It was a nadir that would be reached again only in March 2020, when the Saudis launched another price war, this time targeting Russia, just as the coronavirus pandemic sapped global demand.</p>\n<p>When Dudley arrived in the Swiss ski resort of Davos for the World Economic Forum on Jan. 21, 2016, the industry was braced for more doom and gloom. Wearing a dark suit and blue tie, the BP chief executive officer made his way through the snowy streets. After one meeting, he was asked—as usual—for his oil forecast by a gaggle of journalists. “Prices will remain low for longer,” he said. This time, though, his by-then-well-known mantra came with a kicker: “But not forever.”</p>\n<p>Few understood the special significance of his comment. After months of slumping oil prices, BP’s traders had turned bullish. And, in complete secrecy, the company was putting money behind its conviction.</p>\n<p>Shortly before flying to Davos, Dudley had authorized a daring trade: BP would place a large bet on a rebound in oil prices. Although its stock is in the FTSE 100 index and owned by almost every British pension fund, this wager, worth hundreds of millions of dollars, has remained a closely guarded secret until now.</p>\n<p>BP was already heavily exposed to the price of oil. What the traders wanted to do was double down, to increase the exposure by buying futures contracts much as a hedge fund would. BP’s trading arm—staffed by about 3,000 people on its main trading floors in London, Chicago, Houston, and Singapore—argued that the price had fallen so far that it could only go up. And Dudley agreed.</p>\n<p>Quietly, BP bought Brent crude futures traded in London. It was a “management position”—a trade so large it couldn’t be the responsibility of any one trader and had to be overseen by the company’s most senior executives.</p>\n<p>The optimistic coda Dudley attached to his catchphrase in Davos proved prescient. By early February, oil was up by a third, trading above $35 a barrel. By the end of May, it was more than $50 a barrel.</p>\n<p>That’s when the company started to count the profits. The trade “made a lot of money,” says a former BP executive with direct knowledge of it. Another executive, who also was involved, put the payout at about $150 million to $200 million, declining to provide an exact figure. Publicly, however, BP —whose vast size means it’s not obligated to disclose even a windfall of that scale—said almost nothing.</p>\n<p>BP’s trades in&nbsp;the midst of the 2016 slump are a demonstration of one of Big Oil’s best-kept secrets. The company and its rivals Royal Dutch Shell Plc and Total SE aren’t just major oil producers; they’re also some of the world’s largest commodity traders. Shell, the most active of the three, is the world’s largest oil trader—ahead of independent houses such as Vitol Group and Glencore Plc.</p>\n<p>Massive trading floors that mirror those of Wall Street’s biggest banks are becoming increasingly important to the oil companies, which are driven by fears that global oil demand could start to drop in the next few years as climate change concerns reshape society’s—and investors’—attitudes toward fossil fuel producers. No longer looked down upon as handmaidens to the engineers who built Big Oil, the traders are increasingly being seen as their companies’ saviors. The brightest stars can make more than $10 million a year, outstripping their bosses.</p>\n<p>Like BP’s 2016 trade, much about the oil majors’ trading exploits has never been reported. Bloomberg Markets pieced together the story of these lucrative but secretive operations through interviews with more than two dozen current and former traders and executives, some of which were conducted for The World for Sale, our new book on the history of commodity trading.</p>\n<p>The oil majors trade in physical energy markets, buying tankers of crude, gasoline, and diesel. And they do the same in natural gas and power markets via pipelines and electricity grids. But they do more than that: They also speculate in financial markets, buying and selling futures, options, and other financial derivatives in energy markets and beyond—from corn to metals—and closing deals with hedge funds, private equity firms, and investment banks.</p>\n<p>As little known as their trading is to the outside world, BP, Shell, and Total see it as the heart of their business. In a conference call with industry analysts last year, Ben van Beurden, CEO of Shell, described the company’s trading in almost mystical terms: “It actually makes the magic.”</p>\n<p>And the wizardry pays off: In an average year,&nbsp;Shell makes as much as $4 billion in pretax profit from trading oil and gas; BP typically records from $2 billion to $3 billion annually; the French major Total not much less, according to people familiar with the three companies. In the case of BP, for instance, profits can equal roughly half of what the company’s upstream business of producing oil and gas makes in a normal year, such as 2019. In years of low prices, like 2016 or 2020, trading profits can far exceed those of the production business. Last year, both BP and Shell made about $1 billion above their typical profit target in oil and gas trading.</p>\n<p>One reason profits are so high is because the three companies can reduce their trading tax bill by routing their business through low-tax jurisdictions—a strategy not available to their oil pumping and refining businesses, which are rooted in physical infrastructure in particular countries. Shell, for example, concentrates all its trading of West African and Latin American crude via a subsidiary in the Bahamas. With just 36 traders in Nassau, Shell reported profits in the Bahamas of $847.5 million in 2019. Yet it didn’t pay a single dollar in taxes on those gains.</p>\n<p>Even better for the trio, trading profits tend to soar when markets are oversupplied, as was the case in 2015-16 and again in 2020, helping to cushion the blow of low prices on the traditional business of pumping and refining oil. Trading also gives them an edge over their U.S. rivals, Exxon Mobil Corp. and Chevron Corp., which for historical and cultural reasons have eschewed trading.</p>\n<p>For most shareholders, however, the trading business is a black box. \"It is impossible to show exactly what we are doing, unless we want to completely open up our entire trading book, which is something we simply cannot do,\" Shell's van Beurden said last year when asked how much money the trading unit made. Total&nbsp;CEO Patrick Pouyanné, asked a similar question, replied more bluntly:&nbsp;“The oil trading is a secret.”</p>\n<p>What isn’t a secret is the size of the trades. Together the three companies trade almost 30 million barrels a day of oil and other petroleum products, equal to the daily production of the entire OPEC cartel. Shell alone trades about 12 million barrels a day. That’s physical trading. The paper volumes are much larger. Total, for example, trades 6.9 million barrels of physical oil a day, but the equivalent of 31 million barrels of oil derivatives such as futures and options.</p>\n<p>With trading comes risk. The business “suits people who have a real commercial bent, a real desire to make money for the company,” Andrew Smith, head of trading at Shell, says in a recruiting video. They must be fearless, too: “They also have to be comfortable with taking risk. There are very few risk-free trades. Some days we make money; some days you’d lose money,” he says.</p>\n<p>BP, Shell, and Total declined to comment for this article.</p>\n<p>The history of Big Oil and trading goes back to the industry’s origins. Shell started life in London in the 19th century as an oil trader—“Shell” Transport &amp; Trading Co.—and only later got into oil production. Then, in the first half of the 20th century, oil trading simply ceased to exist as the biggest producers squeezed others out of the picture.</p>\n<p>A few large companies came to dominate the industry, underpinned by their agreements to divvy up the oil resources of the Middle East. These companies, BP and Shell among them, were known as the Seven Sisters. Outside their oligopoly, there was very little left to buy or sell.</p>\n<p>BP was emblematic of the era. The British group had grown out of the Anglo-Persian Oil Co., established after oil was first struck in Iran in 1908, and by the early 1970s it could rely on a gusher of oil from its Iranian assets that provided much of the total 5 million barrels a day that it was pumping around the world. BP didn’t need to trade. Instead the nerve center of its business was the dull-sounding “scheduling department,” charged with arranging for BP barrels to be transported in BP tankers into BP refineries and sold into BP fuel stations.</p>\n<p>Already early traders such as Marc Rich, who founded the company that is today Glencore, were finding ways to trade oil outside the control of the Seven Sisters on the nascent spot market. The big oil companies regarded trading as beneath them and looked down on the upstarts, but they would soon be forced to think differently.</p>\n<p>The Iranian revolution of 1979 at a stroke dispossessed BP of much of its oil production. The company was forced to turn to the spot market that it had long disdained to buy the oil its refineries needed.</p>\n<p>Soon BP was doing much more than just buying oil for its own refineries. Andy Hall, then a young graduate working in its scheduling department in New York, would go on to be one of the most successful oil traders in history after leaving BP. He recalls that he started buying any oil that looked cheap, whether BP needed it or not, figuring to resell it at a profit. “We basically started trading oil like crazy,” he says.</p>\n<p>The oil price slump of the late 1990s set the stage for what the three large trading businesses would become as a wave of consolidation swept through the oil industry.</p>\n<p>When Exxon merged with Mobil, which had had a successful trading business, the nontrading culture of Exxon prevailed. The same happened when Chevron took over Texaco. The Americans were pretty much out of the trading business.</p>\n<p>Meanwhile, BP bought Amoco, which had a large trading unit, expanding its reach. The merger of French companies Total and Elf—both large traders—further consolidated Total’s trading business. Shell, too, reorganized and centralized its trading unit.</p>\n<p>By the time the wave of consolidation was over in 2000, the European trio emerged as the kings of oil trading. Their timing was exquisite: Commodity trading was about to enjoy an enormous boom as skyrocketing Chinese demand spurred a decade-long supercycle in prices.</p>\n<p>Big Oil’s trading floors would be at home at JPMorgan Chase &amp; Co. or UBS Group AG. Rows of desks sprouting vast arrays of flashing multicolored screens stretch out almost as far as the eye can see. The traders are arranged according to their market or region of focus, each desk representing a trading “book,” a little empire of supply contracts and derivatives deals.</p>\n<p>The floors don’t just look like Wall Street’s—they’re often located alongside them. BP’s London trading base isn’t at the company’s head office near Buckingham Palace, but in the banking hub of Canary Wharf. In Chicago its traders occupy the historic floor of the former Chicago Mercantile Exchange building.</p>\n<p>All in all, BP, Shell, and Total employ about 8,000 people in their trading divisions, a small fraction of their overall workforce of 250,000. The traders have more in common with the investment bankers across the road than they do with their colleagues sweating on oil rigs in Nigeria or mapping fields off the coast of Brazil. “Trading is a very uber-competitive environment,” Christine Sullivan, a 30-year veteran of Shell trading, says in one of the company’s recruiting videos. “Every day I can see the impact I’ve made to the bottom line. You see that moving up, hopefully, on a daily basis, and it just makes you want to do more.”</p>\n<p>Big Oil’s bosses like to say that speculation isn’t part of the business model of their trading units. That’s not really true. Within BP’s trading division, for example, there was for a number of years a pot of money traded, effectively, by a computer. The so-called Q Book was devised in the 1990s by two of BP’s in-house math whizzes—Chris Allen and Gordon Izatt—long before algorithmic trading became a dominant force in financial markets.</p>\n<p>The Q Book algorithm traded dozens of commodity futures including gold and corn, according to people with knowledge of it. And while BP shut down the Q Book a few years ago, it still has a unit that resembles an in-house hedge fund: The so-called Alpha One Book, run by Tim Hayes, aims to make money betting on financial commodity markets. At Shell and Total, there are similar groups.</p>\n<p>Even so, big speculative wagers on the direction of the price of oil, like the one BP took in 2016, are rare. The day-to-day job of the traders is a little like the role of the scheduling department of bygone eras, but with a healthy dose of entrepreneurial spirit thrown in.</p>\n<p>Their role gives them a huge position in the markets and opens up all kinds of opportunities to maximize profits. Last year, for example, Shell’s traders realized that the spreading coronavirus pandemic would have a catastrophic impact on international travel. They decided to bet that demand for jet fuel would collapse. It was a wager almost no other trader in the market could make on the scale that Shell did: Jet fuel is a niche market, dominated by refineries and airlines, and the market for jet fuel derivatives isn’t liquid enough for most traders to bet on easily.</p>\n<p>But Shell was well poised. It owns the Pernis refinery in Rotterdam—the largest in Europe, each day pumping out enough gasoline, diesel, and jet fuel to keep half of the cars, trucks, and planes in the Netherlands moving. It supplies jet fuel to Amsterdam’s Schiphol Airport.</p>\n<p>In early 2020, before air travel shrank, Shell’s traders tweaked Pernis’s production, cutting out jet fuel entirely while increasing output of other refined products. Shell still had contracts to supply jet fuel, however, so the company was left with a big short position: It would have to buy jet fuel in the market to deliver to its customers, whatever the price, if the company’s traders were wrong about the pandemic. If the price went up, Shell stood to lose millions.</p>\n<p>Of course, the traders weren’t wrong. Jet fuel demand soon plunged 90% in northwestern Europe. Across Europe, prices fell from $666 a ton at the beginning of the year to $125 a ton by late April. “We could buy jet fuel, make money on that particular trade, and then again reconstitute the products coming out of the refinery to make money elsewhere,” Shell’s van Beurden explained in an earnings call with investors in July. “That’s no ordinary trading. That is actually optimizing market positions that we know better than anybody how to take advantage of.”</p>\n<p>Shell didn’t disclose how much money it made on that single trade, but people familiar with the company said that in just the second quarter of 2020, the jet fuel traders made as much as they usually do in a whole year.</p>\n<p>“Inside Shell and BP, the traders are their Navy SEALs,” says former Shell oil analyst Florian Thaler, now head of OilX, an industry data analytics company. For their skills, traders are highly paid.</p>\n<p>For years their remuneration packages were a closely guarded secret. Then in 2006 a BP trader sued the company in the U.S. in a pay dispute. The legal fight that followed exposed the riches of Big Oil trading. The trader, Alison Myers, revealed that, on top of her regular annual salary of $150,000 for 2006, she was due a $5.5 million performance bonus—three times what BP’s then-CEO John Browne took home the same year.</p>\n<p>The legal battle revealed that others at BP did even better. The company said other traders took higher bonuses not only because their desks made more money, but also because speculative traders were generally better paid. “The market value of paper traders was higher than the value of physical traders,” BP said in a court filing.</p>\n<p>Since then, bonuses have only gone up. Nowadays many traders take home from $1 million to $10 million a year, and a handful even more. Every year at BP a list goes to the board for approval. It contains the names of the dozen or so traders whose bonuses are higher than those of the CEO, according to two people familiar with the process.</p>\n<p>At the top of the list typically sits the lead trader of the Cushing Book—the one responsible for buying and selling oil at the Oklahoma town that serves as the delivery point for the West Texas Intermediate benchmark. In a good year, this trader can make as much as $30 million, an amount that would outstrip the $23 million that David Solomon, the boss of Goldman Sachs Group Inc., took home in 2019.</p>\n<p>THE IMMENSE SCALE of the oil companies’ trading units gives them outsize clout. Shell, as Bloomberg News has reported, has in the past made bold trades that, while not illegal, have violated the unspoken rules governing this lightly regulated market. On one occasion in 2016, for example, Shell bought roughly 70% of the cargoes of North Sea crude available for a particular month, triggering wild price gyrations while squeezing out other traders who privately complained to Shell.</p>\n<p>At times, Big Oil traders have broken the rules outright. In 2007, BP paid more than $300 million to settle charges that it manipulated U.S. propane markets, for example. At the time the fine was one of largest ever for alleged market manipulation in commodities. Earlier, U.S. regulators fined Shell $300,000 for manipulating U.S. oil futures markets in 2003 and 2004 and $30 million for manipulating natural gas markets in 2000 and 2002.</p>\n<p>Still, constrained by the sheer size and high public profiles of the companies they work for, BP, Shell, and Total traders are nowhere near as swashbuckling as their counterparts at independent houses, who, history has shown, have been more willing to make a foray into countries where corruption is rife and where buying oil sometimes involves suitcases full of cash.</p>\n<p>That means the oil giants have left many of the juiciest deals to the independents. Brian Gilvary, a former BP head of finance, puts it this way: “Is there value available to us that could be captured over and above what we capture today? Absolutely. Are we prepared to take the risk associated with that? Definitely no. I can give you a list of countries, but you know where they are.”</p>\n<p>In the last few years, Big Oil has muscled more and more into the realm previously dominated by big banks. When, after the 2008-09 financial crisis, the U.S. Congress attempted to tighten regulations around the vast and opaque market for swaps—a form of bespoke derivatives traded bilaterally—the process revealed for the first time the scale of the oil companies’ role in the financial markets.</p>\n<p>The 2010 Dodd-Frank Act on financial reforms required all major players in the swaps market to register themselves. There were the usual suspects: Bank of America, Goldman Sachs, JPMorgan, and other financial behemoths. And then there were three names that seemed out of place: Cargill, the world’s largest trader of agricultural commodities, BP, and Shell.</p>\n<p>As Wall Street banks scaled back their presence in commodities in the post-crisis world, Big Oil stepped in. Shell, for example, in 2016 became the first nonbank to move in on what commodity traders at Wall Street banks see as their largest annual deal: helping the Mexican government hedge its exposure to the price of oil.</p>\n<p>For its part, BP, in a brochure for its trading unit, says, “Our customers also include banks, hedge funds and private equity firms.” The document lists a range of financial strategies it can help customers implement—from “options (vanilla &amp; tailored)” to “tiered volume restructure.”</p>\n<p>With investors of all kinds increasingly unimpressed by the traditional oil-pumping business, trading is becoming an ever more important part of the oil companies’ sales pitch. In a virtual meeting with investors in October 2020, Shell’s van Beurden described the company’s trading unit as “absolutely core to the success of our company.” Even Exxon, which long sneered at trading as an unnecessary distraction, has changed its stance, hiring experienced oil traders to start making bets with the company’s money.</p>\n<p>As BP shifts its investments from fossil fuels to renewable energy, its traders will help it juice the relatively low returns on those investments, Bernard Looney, who last year succeeded Dudley as CEO, said in a presentation to investors in 2020. Renewable energy projects typically generate returns of 5% to 6%, he said, but the company’s expert traders can add about 2 percentage points to that.</p>\n<p>As steeped as BP may seem to be in the rigs and offshore platforms and snaking pipelines of yesteryear, Looney painted an energy future that encompasses electric cars, hydrogen, and biofuels. “We love complexity like this,” he said. “It is why we have elevated our trading function to the leadership table.”</p>\n<p>Blas and Farchy cover energy out of London. Their book, The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources, was published in the U.K. in February by Random House Business and in the U.S. in March by Oxford University Press.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Big Oil’s Secret World of Trading</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\">\nBig Oil’s Secret World of Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 15:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bnnbloomberg.ca/big-oil-s-secret-world-of-trading-1.1583987><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg Markets) -- It was a bleak moment for the oil industry. U.S. shale companies were failing by the dozen. Petrostates were on the brink of bankruptcy. Texas roughnecks and Kuwaiti princes ...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/big-oil-s-secret-world-of-trading-1.1583987\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ba0e918dfd4ec815c4f78fc4cfc3ea3e","relate_stocks":{},"source_url":"https://www.bnnbloomberg.ca/big-oil-s-secret-world-of-trading-1.1583987","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167302622","content_text":"(Bloomberg Markets) -- It was a bleak moment for the oil industry. U.S. shale companies were failing by the dozen. Petrostates were on the brink of bankruptcy. Texas roughnecks and Kuwaiti princes alike had watched helplessly for months as the commodity that was their lifeblood tumbled to prices that had until recently seemed unthinkable. Below $50 a barrel, then below $40, then below $30.\nBut inside the central London headquarters of one of the world’s largest oil companies, there was an air of calm. It was January 2016. Bob Dudley had been at the helm of BP Plc for six years. He ought to have had as much reason to panic as anyone in the rest of his industry. The unflashy American had been predicting lower prices for months. He was being proved right, though that was hardly a reason to celebrate.\nUnlike most of his peers, Dudley was no passive observer. At the heart of BP, far removed from the sprawling network of oil fields, refineries, and service stations that the company is known for, sits a vast trading unit, combining the logistical prowess of an air traffic control center with the master-of-the-universe swagger of a macro hedge fund. And, unknown to all but a few company insiders, BP’s traders had spotted, in the teeth of the oil price collapse, an opportunity.\nOver the course of 2015, Dudley had acquired a reputation as the oil industry’s Cassandra. Oil prices had been under pressure ever since Saudi Arabia launched a price war against U.S. shale producers a year earlier. When crude prices started falling, he confidently predicted they would remain “lower for longer.” A few months later, he went further. Oil prices, he said, were due to stay “lower for even longer.”\nOn Jan. 20, 2016, the price of Brent crude oil plunged to $27.10 a barrel, the lowest in more than a decade. It was a nadir that would be reached again only in March 2020, when the Saudis launched another price war, this time targeting Russia, just as the coronavirus pandemic sapped global demand.\nWhen Dudley arrived in the Swiss ski resort of Davos for the World Economic Forum on Jan. 21, 2016, the industry was braced for more doom and gloom. Wearing a dark suit and blue tie, the BP chief executive officer made his way through the snowy streets. After one meeting, he was asked—as usual—for his oil forecast by a gaggle of journalists. “Prices will remain low for longer,” he said. This time, though, his by-then-well-known mantra came with a kicker: “But not forever.”\nFew understood the special significance of his comment. After months of slumping oil prices, BP’s traders had turned bullish. And, in complete secrecy, the company was putting money behind its conviction.\nShortly before flying to Davos, Dudley had authorized a daring trade: BP would place a large bet on a rebound in oil prices. Although its stock is in the FTSE 100 index and owned by almost every British pension fund, this wager, worth hundreds of millions of dollars, has remained a closely guarded secret until now.\nBP was already heavily exposed to the price of oil. What the traders wanted to do was double down, to increase the exposure by buying futures contracts much as a hedge fund would. BP’s trading arm—staffed by about 3,000 people on its main trading floors in London, Chicago, Houston, and Singapore—argued that the price had fallen so far that it could only go up. And Dudley agreed.\nQuietly, BP bought Brent crude futures traded in London. It was a “management position”—a trade so large it couldn’t be the responsibility of any one trader and had to be overseen by the company’s most senior executives.\nThe optimistic coda Dudley attached to his catchphrase in Davos proved prescient. By early February, oil was up by a third, trading above $35 a barrel. By the end of May, it was more than $50 a barrel.\nThat’s when the company started to count the profits. The trade “made a lot of money,” says a former BP executive with direct knowledge of it. Another executive, who also was involved, put the payout at about $150 million to $200 million, declining to provide an exact figure. Publicly, however, BP —whose vast size means it’s not obligated to disclose even a windfall of that scale—said almost nothing.\nBP’s trades in the midst of the 2016 slump are a demonstration of one of Big Oil’s best-kept secrets. The company and its rivals Royal Dutch Shell Plc and Total SE aren’t just major oil producers; they’re also some of the world’s largest commodity traders. Shell, the most active of the three, is the world’s largest oil trader—ahead of independent houses such as Vitol Group and Glencore Plc.\nMassive trading floors that mirror those of Wall Street’s biggest banks are becoming increasingly important to the oil companies, which are driven by fears that global oil demand could start to drop in the next few years as climate change concerns reshape society’s—and investors’—attitudes toward fossil fuel producers. No longer looked down upon as handmaidens to the engineers who built Big Oil, the traders are increasingly being seen as their companies’ saviors. The brightest stars can make more than $10 million a year, outstripping their bosses.\nLike BP’s 2016 trade, much about the oil majors’ trading exploits has never been reported. Bloomberg Markets pieced together the story of these lucrative but secretive operations through interviews with more than two dozen current and former traders and executives, some of which were conducted for The World for Sale, our new book on the history of commodity trading.\nThe oil majors trade in physical energy markets, buying tankers of crude, gasoline, and diesel. And they do the same in natural gas and power markets via pipelines and electricity grids. But they do more than that: They also speculate in financial markets, buying and selling futures, options, and other financial derivatives in energy markets and beyond—from corn to metals—and closing deals with hedge funds, private equity firms, and investment banks.\nAs little known as their trading is to the outside world, BP, Shell, and Total see it as the heart of their business. In a conference call with industry analysts last year, Ben van Beurden, CEO of Shell, described the company’s trading in almost mystical terms: “It actually makes the magic.”\nAnd the wizardry pays off: In an average year, Shell makes as much as $4 billion in pretax profit from trading oil and gas; BP typically records from $2 billion to $3 billion annually; the French major Total not much less, according to people familiar with the three companies. In the case of BP, for instance, profits can equal roughly half of what the company’s upstream business of producing oil and gas makes in a normal year, such as 2019. In years of low prices, like 2016 or 2020, trading profits can far exceed those of the production business. Last year, both BP and Shell made about $1 billion above their typical profit target in oil and gas trading.\nOne reason profits are so high is because the three companies can reduce their trading tax bill by routing their business through low-tax jurisdictions—a strategy not available to their oil pumping and refining businesses, which are rooted in physical infrastructure in particular countries. Shell, for example, concentrates all its trading of West African and Latin American crude via a subsidiary in the Bahamas. With just 36 traders in Nassau, Shell reported profits in the Bahamas of $847.5 million in 2019. Yet it didn’t pay a single dollar in taxes on those gains.\nEven better for the trio, trading profits tend to soar when markets are oversupplied, as was the case in 2015-16 and again in 2020, helping to cushion the blow of low prices on the traditional business of pumping and refining oil. Trading also gives them an edge over their U.S. rivals, Exxon Mobil Corp. and Chevron Corp., which for historical and cultural reasons have eschewed trading.\nFor most shareholders, however, the trading business is a black box. \"It is impossible to show exactly what we are doing, unless we want to completely open up our entire trading book, which is something we simply cannot do,\" Shell's van Beurden said last year when asked how much money the trading unit made. Total CEO Patrick Pouyanné, asked a similar question, replied more bluntly: “The oil trading is a secret.”\nWhat isn’t a secret is the size of the trades. Together the three companies trade almost 30 million barrels a day of oil and other petroleum products, equal to the daily production of the entire OPEC cartel. Shell alone trades about 12 million barrels a day. That’s physical trading. The paper volumes are much larger. Total, for example, trades 6.9 million barrels of physical oil a day, but the equivalent of 31 million barrels of oil derivatives such as futures and options.\nWith trading comes risk. The business “suits people who have a real commercial bent, a real desire to make money for the company,” Andrew Smith, head of trading at Shell, says in a recruiting video. They must be fearless, too: “They also have to be comfortable with taking risk. There are very few risk-free trades. Some days we make money; some days you’d lose money,” he says.\nBP, Shell, and Total declined to comment for this article.\nThe history of Big Oil and trading goes back to the industry’s origins. Shell started life in London in the 19th century as an oil trader—“Shell” Transport & Trading Co.—and only later got into oil production. Then, in the first half of the 20th century, oil trading simply ceased to exist as the biggest producers squeezed others out of the picture.\nA few large companies came to dominate the industry, underpinned by their agreements to divvy up the oil resources of the Middle East. These companies, BP and Shell among them, were known as the Seven Sisters. Outside their oligopoly, there was very little left to buy or sell.\nBP was emblematic of the era. The British group had grown out of the Anglo-Persian Oil Co., established after oil was first struck in Iran in 1908, and by the early 1970s it could rely on a gusher of oil from its Iranian assets that provided much of the total 5 million barrels a day that it was pumping around the world. BP didn’t need to trade. Instead the nerve center of its business was the dull-sounding “scheduling department,” charged with arranging for BP barrels to be transported in BP tankers into BP refineries and sold into BP fuel stations.\nAlready early traders such as Marc Rich, who founded the company that is today Glencore, were finding ways to trade oil outside the control of the Seven Sisters on the nascent spot market. The big oil companies regarded trading as beneath them and looked down on the upstarts, but they would soon be forced to think differently.\nThe Iranian revolution of 1979 at a stroke dispossessed BP of much of its oil production. The company was forced to turn to the spot market that it had long disdained to buy the oil its refineries needed.\nSoon BP was doing much more than just buying oil for its own refineries. Andy Hall, then a young graduate working in its scheduling department in New York, would go on to be one of the most successful oil traders in history after leaving BP. He recalls that he started buying any oil that looked cheap, whether BP needed it or not, figuring to resell it at a profit. “We basically started trading oil like crazy,” he says.\nThe oil price slump of the late 1990s set the stage for what the three large trading businesses would become as a wave of consolidation swept through the oil industry.\nWhen Exxon merged with Mobil, which had had a successful trading business, the nontrading culture of Exxon prevailed. The same happened when Chevron took over Texaco. The Americans were pretty much out of the trading business.\nMeanwhile, BP bought Amoco, which had a large trading unit, expanding its reach. The merger of French companies Total and Elf—both large traders—further consolidated Total’s trading business. Shell, too, reorganized and centralized its trading unit.\nBy the time the wave of consolidation was over in 2000, the European trio emerged as the kings of oil trading. Their timing was exquisite: Commodity trading was about to enjoy an enormous boom as skyrocketing Chinese demand spurred a decade-long supercycle in prices.\nBig Oil’s trading floors would be at home at JPMorgan Chase & Co. or UBS Group AG. Rows of desks sprouting vast arrays of flashing multicolored screens stretch out almost as far as the eye can see. The traders are arranged according to their market or region of focus, each desk representing a trading “book,” a little empire of supply contracts and derivatives deals.\nThe floors don’t just look like Wall Street’s—they’re often located alongside them. BP’s London trading base isn’t at the company’s head office near Buckingham Palace, but in the banking hub of Canary Wharf. In Chicago its traders occupy the historic floor of the former Chicago Mercantile Exchange building.\nAll in all, BP, Shell, and Total employ about 8,000 people in their trading divisions, a small fraction of their overall workforce of 250,000. The traders have more in common with the investment bankers across the road than they do with their colleagues sweating on oil rigs in Nigeria or mapping fields off the coast of Brazil. “Trading is a very uber-competitive environment,” Christine Sullivan, a 30-year veteran of Shell trading, says in one of the company’s recruiting videos. “Every day I can see the impact I’ve made to the bottom line. You see that moving up, hopefully, on a daily basis, and it just makes you want to do more.”\nBig Oil’s bosses like to say that speculation isn’t part of the business model of their trading units. That’s not really true. Within BP’s trading division, for example, there was for a number of years a pot of money traded, effectively, by a computer. The so-called Q Book was devised in the 1990s by two of BP’s in-house math whizzes—Chris Allen and Gordon Izatt—long before algorithmic trading became a dominant force in financial markets.\nThe Q Book algorithm traded dozens of commodity futures including gold and corn, according to people with knowledge of it. And while BP shut down the Q Book a few years ago, it still has a unit that resembles an in-house hedge fund: The so-called Alpha One Book, run by Tim Hayes, aims to make money betting on financial commodity markets. At Shell and Total, there are similar groups.\nEven so, big speculative wagers on the direction of the price of oil, like the one BP took in 2016, are rare. The day-to-day job of the traders is a little like the role of the scheduling department of bygone eras, but with a healthy dose of entrepreneurial spirit thrown in.\nTheir role gives them a huge position in the markets and opens up all kinds of opportunities to maximize profits. Last year, for example, Shell’s traders realized that the spreading coronavirus pandemic would have a catastrophic impact on international travel. They decided to bet that demand for jet fuel would collapse. It was a wager almost no other trader in the market could make on the scale that Shell did: Jet fuel is a niche market, dominated by refineries and airlines, and the market for jet fuel derivatives isn’t liquid enough for most traders to bet on easily.\nBut Shell was well poised. It owns the Pernis refinery in Rotterdam—the largest in Europe, each day pumping out enough gasoline, diesel, and jet fuel to keep half of the cars, trucks, and planes in the Netherlands moving. It supplies jet fuel to Amsterdam’s Schiphol Airport.\nIn early 2020, before air travel shrank, Shell’s traders tweaked Pernis’s production, cutting out jet fuel entirely while increasing output of other refined products. Shell still had contracts to supply jet fuel, however, so the company was left with a big short position: It would have to buy jet fuel in the market to deliver to its customers, whatever the price, if the company’s traders were wrong about the pandemic. If the price went up, Shell stood to lose millions.\nOf course, the traders weren’t wrong. Jet fuel demand soon plunged 90% in northwestern Europe. Across Europe, prices fell from $666 a ton at the beginning of the year to $125 a ton by late April. “We could buy jet fuel, make money on that particular trade, and then again reconstitute the products coming out of the refinery to make money elsewhere,” Shell’s van Beurden explained in an earnings call with investors in July. “That’s no ordinary trading. That is actually optimizing market positions that we know better than anybody how to take advantage of.”\nShell didn’t disclose how much money it made on that single trade, but people familiar with the company said that in just the second quarter of 2020, the jet fuel traders made as much as they usually do in a whole year.\n“Inside Shell and BP, the traders are their Navy SEALs,” says former Shell oil analyst Florian Thaler, now head of OilX, an industry data analytics company. For their skills, traders are highly paid.\nFor years their remuneration packages were a closely guarded secret. Then in 2006 a BP trader sued the company in the U.S. in a pay dispute. The legal fight that followed exposed the riches of Big Oil trading. The trader, Alison Myers, revealed that, on top of her regular annual salary of $150,000 for 2006, she was due a $5.5 million performance bonus—three times what BP’s then-CEO John Browne took home the same year.\nThe legal battle revealed that others at BP did even better. The company said other traders took higher bonuses not only because their desks made more money, but also because speculative traders were generally better paid. “The market value of paper traders was higher than the value of physical traders,” BP said in a court filing.\nSince then, bonuses have only gone up. Nowadays many traders take home from $1 million to $10 million a year, and a handful even more. Every year at BP a list goes to the board for approval. It contains the names of the dozen or so traders whose bonuses are higher than those of the CEO, according to two people familiar with the process.\nAt the top of the list typically sits the lead trader of the Cushing Book—the one responsible for buying and selling oil at the Oklahoma town that serves as the delivery point for the West Texas Intermediate benchmark. In a good year, this trader can make as much as $30 million, an amount that would outstrip the $23 million that David Solomon, the boss of Goldman Sachs Group Inc., took home in 2019.\nTHE IMMENSE SCALE of the oil companies’ trading units gives them outsize clout. Shell, as Bloomberg News has reported, has in the past made bold trades that, while not illegal, have violated the unspoken rules governing this lightly regulated market. On one occasion in 2016, for example, Shell bought roughly 70% of the cargoes of North Sea crude available for a particular month, triggering wild price gyrations while squeezing out other traders who privately complained to Shell.\nAt times, Big Oil traders have broken the rules outright. In 2007, BP paid more than $300 million to settle charges that it manipulated U.S. propane markets, for example. At the time the fine was one of largest ever for alleged market manipulation in commodities. Earlier, U.S. regulators fined Shell $300,000 for manipulating U.S. oil futures markets in 2003 and 2004 and $30 million for manipulating natural gas markets in 2000 and 2002.\nStill, constrained by the sheer size and high public profiles of the companies they work for, BP, Shell, and Total traders are nowhere near as swashbuckling as their counterparts at independent houses, who, history has shown, have been more willing to make a foray into countries where corruption is rife and where buying oil sometimes involves suitcases full of cash.\nThat means the oil giants have left many of the juiciest deals to the independents. Brian Gilvary, a former BP head of finance, puts it this way: “Is there value available to us that could be captured over and above what we capture today? Absolutely. Are we prepared to take the risk associated with that? Definitely no. I can give you a list of countries, but you know where they are.”\nIn the last few years, Big Oil has muscled more and more into the realm previously dominated by big banks. When, after the 2008-09 financial crisis, the U.S. Congress attempted to tighten regulations around the vast and opaque market for swaps—a form of bespoke derivatives traded bilaterally—the process revealed for the first time the scale of the oil companies’ role in the financial markets.\nThe 2010 Dodd-Frank Act on financial reforms required all major players in the swaps market to register themselves. There were the usual suspects: Bank of America, Goldman Sachs, JPMorgan, and other financial behemoths. And then there were three names that seemed out of place: Cargill, the world’s largest trader of agricultural commodities, BP, and Shell.\nAs Wall Street banks scaled back their presence in commodities in the post-crisis world, Big Oil stepped in. Shell, for example, in 2016 became the first nonbank to move in on what commodity traders at Wall Street banks see as their largest annual deal: helping the Mexican government hedge its exposure to the price of oil.\nFor its part, BP, in a brochure for its trading unit, says, “Our customers also include banks, hedge funds and private equity firms.” The document lists a range of financial strategies it can help customers implement—from “options (vanilla & tailored)” to “tiered volume restructure.”\nWith investors of all kinds increasingly unimpressed by the traditional oil-pumping business, trading is becoming an ever more important part of the oil companies’ sales pitch. In a virtual meeting with investors in October 2020, Shell’s van Beurden described the company’s trading unit as “absolutely core to the success of our company.” Even Exxon, which long sneered at trading as an unnecessary distraction, has changed its stance, hiring experienced oil traders to start making bets with the company’s money.\nAs BP shifts its investments from fossil fuels to renewable energy, its traders will help it juice the relatively low returns on those investments, Bernard Looney, who last year succeeded Dudley as CEO, said in a presentation to investors in 2020. Renewable energy projects typically generate returns of 5% to 6%, he said, but the company’s expert traders can add about 2 percentage points to that.\nAs steeped as BP may seem to be in the rigs and offshore platforms and snaking pipelines of yesteryear, Looney painted an energy future that encompasses electric cars, hydrogen, and biofuels. “We love complexity like this,” he said. “It is why we have elevated our trading function to the leadership table.”\nBlas and Farchy cover energy out of London. Their book, The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources, was published in the U.K. in February by Random House Business and in the U.S. in March by Oxford University Press.","news_type":1},"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}