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2021-04-28

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Buy These 2 New Stocks Before They Jump Over 60%, Says Goldman Sachs

2021-04-16

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2021-04-15

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Chinese electric carmaker Xpeng Motors is looking into making its own autonomous driving chips

2021-04-14

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2021-04-14

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Coinbase IPO: Everything you need to know about the ‘watershed moment’ in crypto

2021-04-13

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S&P 500 closes flat near record high in another muted session ahead of key inflation data

2021-04-12

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JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week

2021-04-09

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

2021-04-08

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U.S. Dilemma – How to Stimulate An Economy That Is Already Recovering?

2021-04-07

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2021-04-06

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

2021-04-05

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Tesla Q1 2021 Vehicle Production & Deliveries

2021-04-04

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Tesla Q1 2021 Vehicle Production & Deliveries

2021-04-02

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2021-04-01

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Cramer Says Forget Tech And Look To These Sectors In Q2

2021-03-31

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2021-03-31

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Coursera: The Education Disruptor Goes Public

2021-03-30

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VW accidentally leaks new name for its U.S. operations: Voltswagen

2021-03-28

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Zhihu Technology fall on its first day of trading

2021-03-27

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Zhihu Technology fall on its first day of trading

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and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/100190075","repostId":"2130217320","repostType":4,"repost":{"id":"2130217320","kind":"news","pubTimestamp":1619573110,"share":"https://ttm.financial/m/news/2130217320?lang=&edition=fundamental","pubTime":"2021-04-28 09:25","market":"us","language":"en","title":"Buy These 2 New Stocks Before They Jump Over 60%, Says Goldman Sachs","url":"https://stock-news.laohu8.com/highlight/detail?id=2130217320","media":"TipRanks","summary":"The S&P 500 is showing a 6-month gain of 24%. 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In ...</p>\n\n<a href=\"https://finance.yahoo.com/news/buy-2-stocks-jump-over-144110998.html\">Web Link</a>\n\n</div>\n","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>Buy These 2 New Stocks Before They Jump Over 60%, Says Goldman Sachs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuy These 2 New Stocks Before They Jump Over 60%, Says Goldman Sachs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-28 09:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/buy-2-stocks-jump-over-144110998.html><strong>TipRanks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 is showing a 6-month gain of 24%. Stocks generally have been gainers as the coronavirus crisis recedes, economies reopen, and the Federal Reserve remains committed to low-rate regime. In ...</p>\n\n<a href=\"https://finance.yahoo.com/news/buy-2-stocks-jump-over-144110998.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛","EM":"怪兽充电","COMP":"Compass, Inc.","NGD":"New Gold"},"source_url":"https://finance.yahoo.com/news/buy-2-stocks-jump-over-144110998.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2130217320","content_text":"The S&P 500 is showing a 6-month gain of 24%. Stocks generally have been gainers as the coronavirus crisis recedes, economies reopen, and the Federal Reserve remains committed to low-rate regime. In this environment, it’s no wonder that many companies are considering going public through an IPO.\nThe high-return environment we’re experiencing right now makes the IPO attractive as a way to not just raise capital but to also cash in on the rising stock market. With interest rates at historic lows, stocks have become the go-to vehicle for investors seeking growth, and for companies seeking investors – the cohort conducting or contemplating IPOs – the partnership is natural. An IPO brings costs with it, in the form of compliance and disclosure rules – the market’s rapid gains outweigh them for the present.\nThis brings us to Goldman Sachs. The banking firm’s stock analysts have been looking for the equities primed to gain in current conditions. And just this week, they’ve tapped two stocks new to the public markets as likely to jump 60% or more in coming months – a solid return that investors should note. We ran the two through TipRanks database to see what other Wall Street's analysts have to say about them.\nCompass, Inc. (COMP)\nTech meets real estate in Compass, Inc., a technology company founded in 2012 to make relevant, cloud-based tools available to realtors. The company’s platform facilitates buying, renting, and selling real estate. The company aims to replace the real estate industry’s antiquated ‘paper’ model with a seamless digital experience that empowers agents and satisfies both buyers and sellers.\nThe company’s large size, and its agent-centered approach, give it advantages over online rivals such as Redfin and Zillow. Compass boasts a 4% market share in the crowded residential segment; by comparison, competitor Redfin’s market share is 1%.\nLooking at Compass by the numbers paints an impressive picture. In its fiscal year 2020, Compass employed over 19,000 real estate agents, facilitated over 145,000 transactions with a total gross value of $152 billion, saw top-line revenues of $3.7 billion, and operated in 46 markets across 16 states.\nBased on that performance, on April 1, the company went public. Compass put 25 million shares of common stock on the market, at price of $18 each, and netted $450 million.\nAmong the bulls is Goldman analyst Michael Ng, who likes the fundamental of this newly public stock.\n“Compass is the largest independent U.S. real estate brokerage by gross transaction value (GTV) and differentiates itself from competing brokerages by providing its residential real estate agents with a first party, end-to-end platform for workflow and customer management, driving higher annual commissions for Compass agents over time. Compass targets the $2 trillion existing home sales addressable market in the US and, within that, ~$95 bn in annual real estate agent commissions,” the analyst wrote.\nGetting to the bottom line, Ng adds, “[We] believe that attractive valuation and adjacent services optionality create a positive risk-reward…”\nTo this end, Ng rates Compass shares a Buy along with a $32 price target. Investors stand to pocket ~79% gain should the analyst's thesis play out. (To view Ng's track record, click here)\nAfter less than month in the public markets, Compass has already picked up 9 analyst reviews. These break down to 5 Buys and 4 Holds, giving the stock a Moderate Buy analyst consensus rating. The average price target of $23 implies an upside of 28% from the current trading price of $17.89. (See COMP stock analysis on TipRanks)\n\nSmart Share Global (EM)\nSmart Share Global, also called Energy Monster, is a Chinese firm that has staked out a fascinating niche in the digital world: it rents out power banks. The company has backing from Alibaba, and in the last three years has secured a 34% market share and over 219 million users, making it the largest charging service provider in China’s mobile device ecosystem.\nLarge market share in a large market has brought in the cash. The company’s revenue in 2020 hit 2.8 billion yuan, or $431 million at current exchange rates, and has spread out to encompass a network of 664,000 power bank rental spots across more than 1,500 of the country’s 2,846 counties and local districts. The user base expanded by 47% in 2020.\nSmart Share Global started trading on the NASDAQ on April 1, with the offering of 17.65 million shares to the public at an initial price of $8.50. The stock actually opened at $10, and closed that first day at $8.54, putting the total capital raised in the neighborhood of $150 million.\nAnalyst Ronald Keung, of Goldman Sachs, sees plenty of reasons to buy into Smart Share Global, and in his initiation report on the stock he lays them out.\n\"We like EM’s: (1) growing network effect, with an extensive national network of 5mn power banks at 664k POIs across 1,500cities (by YE2020), driving better user experience and brand recognition... (2) better-than-peer unit economics with the company picking POIs of high margin/monetization potential, thereby generating Rmb2 daily revenue per power bank, vs peers’Rmb1-1.5. As a result, EM has a very fast cash payback period of five quarters per power bank, which we estimate will lead to double digit net profit margin by 2022; and (3) improving revenue visibility, thanks to key accounts (KA) such as Disney, HTHT, and KFC that are exclusive and long term in nature,\" Keung wrote.\nKeung puts a $13.90 price target on the stock, to go along with his Buy rating. At current levels, that suggests a one-year upside potential of ~65% for the shares. (To watch Keung’s track record, click here)\nThe Goldman review is the first on file for this company, which is currently trading for $8.43 per share. (See EM stock analysis on TipRanks)\n\nTo find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.\nDisclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370020705,"gmtCreate":1618537318407,"gmtModify":1704712377007,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/370020705","repostId":"1119515404","repostType":4,"isVote":1,"tweetType":1,"viewCount":450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347979828,"gmtCreate":1618460398664,"gmtModify":1704711177796,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/347979828","repostId":"1115715092","repostType":4,"repost":{"id":"1115715092","kind":"news","pubTimestamp":1618458844,"share":"https://ttm.financial/m/news/1115715092?lang=&edition=fundamental","pubTime":"2021-04-15 11:54","market":"us","language":"en","title":"Chinese electric carmaker Xpeng Motors is looking into making its own autonomous driving chips","url":"https://stock-news.laohu8.com/highlight/detail?id=1115715092","media":"CNBC","summary":"KEY POINTS\n\nChinese electric carmaker Xpeng Motors is looking into making its own semiconductors for","content":"<div>\n<p>KEY POINTS\n\nChinese electric carmaker Xpeng Motors is looking into making its own semiconductors for autonomous driving.\nXinzhou Wu, vice president in charge of autonomous driving at Xpeng, said the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/15/tesla-rival-xpeng-motors-looking-at-making-own-autonomous-driving-chips.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>Chinese electric carmaker Xpeng Motors is looking into making its own autonomous driving chips</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese electric carmaker Xpeng Motors is looking into making its own autonomous driving chips\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-15 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/15/tesla-rival-xpeng-motors-looking-at-making-own-autonomous-driving-chips.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChinese electric carmaker Xpeng Motors is looking into making its own semiconductors for autonomous driving.\nXinzhou Wu, vice president in charge of autonomous driving at Xpeng, said the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/15/tesla-rival-xpeng-motors-looking-at-making-own-autonomous-driving-chips.html\">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"},"source_url":"https://www.cnbc.com/2021/04/15/tesla-rival-xpeng-motors-looking-at-making-own-autonomous-driving-chips.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1115715092","content_text":"KEY POINTS\n\nChinese electric carmaker Xpeng Motors is looking into making its own semiconductors for autonomous driving.\nXinzhou Wu, vice president in charge of autonomous driving at Xpeng, said the company is “looking at all possible options” in terms of technologies, to stay ahead of rivals, including autonomous driving chips.\nXpeng launched a new electric sedan called the P5 on Wednesday.\n\nGUANGZHOU, China — Chinese electric carmaker Xpeng Motors is looking into making its own semiconductors for autonomous driving to stay ahead of the competition, a top executive at the company told CNBC.\nThe comments come after technology news website 36Kr reported that Xpeng had assembled a small team to develop semiconductors.\nXinzhou Wu, vice president in charge of autonomous driving at Xpeng, said the company is looking into various technologies, including autonomous driving chips.\n“Well, I cannot say too much about that ... the competition in China market is fierce … so we are looking at all options. What are the best ways to keep our advantage in the competition? So so far we are doing very well in software,” Wu told CNBC on Wednesday.\n“But moving forward we are looking at all possible options: how to keep us … winning this competition,”\nWhen asked if that includes exploring in-house chipsets as well, Wu said: “That’s one of the directions, yes.”\nWu did not give further details.\nXpeng launched a new electric sedan called the P5 on Wednesday. The vehicle is equipped with Lidar or or Light Detection and Ranging technology, which uses lasers to map the car’s surroundings.\nThis is critical to enable some of the P5′s autonomous driving features that are built in.\nCurrently, the P5 uses chips from Nvidia for autonomous driving and Qualcomm for its in-car digital cockpit.\nDesigning its own semiconductors could give Xpeng more control over the integration between its hardware and software.\nThe company has been focusing on developing technology in-house as a way to differentiate from rivals in China’s crowded electric vehicle market. Not only is Xpeng competing with traditional automakers and start-ups, but an increasing number of technology companies such as Baidu and Xiaomi have also jumped into the fray.\nWu claimed the P5′s hardware and software and “usability of the overall features is much more advanced” than its competitors — and that would give the company an “edge.”\nChinese technology companies have been putting an increasing focus on developing their own semiconductors.Baidu last month raised money for its chip business and Xiaomi unveiled a new chipset for the camera on its latest flagship smartphone.","news_type":1},"isVote":1,"tweetType":1,"viewCount":483,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344931051,"gmtCreate":1618365493273,"gmtModify":1704709706474,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/344931051","repostId":"1133542059","repostType":4,"isVote":1,"tweetType":1,"viewCount":442,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344933715,"gmtCreate":1618365468137,"gmtModify":1704709705817,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/344933715","repostId":"2127454000","repostType":4,"repost":{"id":"2127454000","kind":"highlight","pubTimestamp":1618364092,"share":"https://ttm.financial/m/news/2127454000?lang=&edition=fundamental","pubTime":"2021-04-14 09:34","market":"us","language":"en","title":"Coinbase IPO: Everything you need to know about the ‘watershed moment’ in crypto","url":"https://stock-news.laohu8.com/highlight/detail?id=2127454000","media":"MarketWatch","summary":"'That said, investing in Coinbase is not for the faint of heart, as the business--and the stock--wil","content":"<p>'That said, investing in Coinbase is not for the faint of heart, as the business--and the stock--will likely see dramatic, potentially protracted, swings,' MoffettNathanson's Ellis writes</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9a8244209cb653b4d9e43e2d729863b9\" tg-width=\"620\" tg-height=\"414\" referrerpolicy=\"no-referrer\"><span>Here comes the Coinbase IPO! Photographer: Tiffany Hagler-Geard/Bloomberg</span></p><p>Coinbase is the talk of Wall Street, as the largest crypto platform in the U.S. gears up for its public debut on a traditional exchange Wednesday, through a direct listing.</p><p>There is no doubt that the public offering of Coinbase is a big deal in the world of crypto. The company was created just over a decade ago with the genesis of bitcoin  and is now in the midst of a moment that many in the industry have described as a tipping point .</p><p>There are few ways to get direct ownership of crypto currencies, outside of buying them directly, a service that Coinbase provides for a fee, and what investors appear willing to be pay up for.</p><p>Leeor Shimron, analyst at FundStrat Global Advisors, described the Coinbase listing as seminal. \"Coinbase's direct listing is a watershed moment for the crypto industry.\"</p><p>Wedbush analyst Dan Ives said the listing is a reflection of the crypto's mainstream evolution.</p><p>\"Coinbase is a foundational piece of the crypto ecosystem and is a barometer for the growing mainstream adoption of Bitcoin and crypto for the coming years in our opinion,\" he wrote in a research note Tuesday.</p><p>Some caution that the implied valuations for Coinbase as a crypto exchange are too lofty , the parent company of the New York Stock Exchange.</p><p>In a direct listing, a company floats its shares on a stock exchange, but without hiring banks to underwrite the transaction, like in an IPO.</p><p>Here's what you need to know about the coming offering.</p><p><b>What is Coinbase?</b></p><p>The Silicon Valley crypto exchange was co-founded in 2012 by Brian Armstrong, 38, who runs the platform as chief executive. Fred Ehrsam, a Coinbase director, also helped to create the company.</p><p>According to Forbes , Armstrong's networth is currently $6.5 billion based on his ownership in the company and his wealth is likely to increase if the direct listing goes off successfully.</p><p><b>When will Coinbase go public?</b></p><p>Coinbase will list on April 14. The precise timing of the list isn't clear but <a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies Inc.</a>'s (PLTR)direct listing   after 1:30 p.m. Eastern Time.</p><p><b>Where will it list?</b></p><p>Coinbase is set to go public on the Nasdaq under the ticker symbol \"COIN\" as a direct listing, meaning it isn't raising any new money, as a company would under a traditional IPO.</p><p>Coinbase is the Nasdaq's first major direct listing, with Spotify <a href=\"https://laohu8.com/S/SPOT\">$(SPOT)$</a>, <a href=\"https://laohu8.com/S/WORK\">Slack Technologies</a> (WORK) and most recently Palantir Technologies (PLTR) all opting to directly list at the NYSE.</p><p><b>Valuations?</b></p><p>Valuations for Coinbase vary from $50 billion to $150 billion based on some decentralized crypto platforms that attempt to replicate how the company's shares might trade. At the top end of the spectrum, Coinbase would be bigger than a number of U.S. exchanges, including ICE, Nasdaq, CME Group <a href=\"https://laohu8.com/S/CME\">$(CME)$</a> and Cboe Global Markets <a href=\"https://laohu8.com/S/CBOE\">$(CBOE)$</a>.</p><p><img src=\"https://static.tigerbbs.com/d2200134a14a3d37a8a656d85f6906c0\" tg-width=\"955\" tg-height=\"657\" referrerpolicy=\"no-referrer\"></p><p>David Trainer, CEO of New Constructs, an investment research firm, said the crypto platform's value is ridiculously high. \"Even though Coinbase's revenue surged over the past 12 months, the company has little-to-no-chance of meeting the future profit expectations that are baked into its ridiculously high expected valuation of $100 billion,\" he said.</p><p>\"Coinbase's expected valuation of $100 billion implies that its revenue will be 1.5x the combined 2020 revenues of two of the most established exchanges in the marketplace, Nasdaq Inc. <a href=\"https://laohu8.com/S/NDAQ\">$(NDAQ)$</a> and Intercontinental Exchange <a href=\"https://laohu8.com/S/ICE\">$(ICE)$</a>, the parent company of the New York Stock Exchange,\" he said.</p><p>Trainer said that based on his calculation, Coinbase's valuation should be closer to $18.9 billion--an 81% decrease from the $100 billion expected valuation.</p><p><b>'Not for the faint of heart'</b></p><p>MoffettNathanson analyst Lisa Ellis explained to MarketWatch why the offering is, as she describes it \"not for the faint of heart,\" but why she initiated coverage of the exchange at a buy with a price-target of $600, even before it sees its first trade on the Nasdaq.</p><p>\"I'm super super bullish on Coinbase...because you get the sense that they are a market leader in the space and crypto agnostic,\" she said.</p><p>That said, she acknowledges that currently 90% of Coinbase's revenues are derived directly from retail trading, with most in the U.S. and trading centered primarily on the two largest cryptos: bitcoin and Ether  on the ethereum blockchain.</p><p>\"So the implications is that Coinbase's revenues are correlated with the level of activity in cryto currency and especially bitcoin and ether.\"</p><p>Ellis says investors need to have at least a one-year long-term investment strategy in bitcoin, which could still go to zero by some bearish accounts, but a three-year outlook is even better, because the crypto complex has tended to operate in three-year cycles of boom and then bust.</p><p><b>Validation for crypto or a top?</b></p><p>Some bulls see Coinbase as validation for the nascent crpyto industry.</p><p>Alex Mashinsky, head of crypto-lending and trading platform Celsius Network, put it this way:</p><p>\"We look at the Coinbase listing as an additional validation of the space, and a major PR opportunity for the entire industry to shine as the future of finance,\" he told MarketWatch via email.</p><p>\"Coinbase has more users and more revenues than many of the largest Wall Street players and is more profitable than any major exchange, and this validation puts most skeptics at a crossroads having to re-evaluate their denial and frustration with the disruption coming at them from all sides.\"</p><p>Others suggest that it may prove a new top for the market and put crypto prices under pressure after a precipitous rally in recent days and a fresh record for bitcoin.</p><p>Yves Lamoureux, the president of Montreal-based macroeconomic research firm Lamoureux &amp; Co., told MarketWatch that he is fearful that too much euphoria surrounds bitcoin and crypto and sees it due for a retrenchment as a result. \"Can you find out-there anyone with a bearish viewpoint?\" he asked. \"A resounding no,\" said Lamoureux.</p><p><b>Is Coinbase the largest crypto exchange?</b></p><p>Coinbase is the second-largest crypto platform, but the largest in the U.S., by volume. The title of largest goes to Binance, which sees $47 billion in crypto trading volume in a 24-hour period, according to CoinMarketCap.com .</p><p><b>Who else owns Coinbase?</b></p><p>Venture-capital firm Andreessen Horowitz, is the largest owner of Coinbase, boasting about 25% of Class A shares  and 14%% of Class B. And Marc Andreessen, head of the venture capital outfit, sits on Coinbase's board.</p><p><b>Other facts</b></p><p>For those aiming for an even deeper dive into Coinbase, check out MarketWatch's <a href=\"https://laohu8.com/NW/2116458171\" target=\"_blank\">5 things to know about the company</a>.</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>Coinbase IPO: Everything you need to know about the ‘watershed moment’ in crypto</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\">\nCoinbase IPO: Everything you need to know about the ‘watershed moment’ in crypto\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-14 09:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/coinbase-ipo-everything-you-need-to-know-about-the-watershed-moment-in-crypto-11618350086?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'That said, investing in Coinbase is not for the faint of heart, as the business--and the stock--will likely see dramatic, potentially protracted, swings,' MoffettNathanson's Ellis writesHere comes ...</p>\n\n<a href=\"https://www.marketwatch.com/story/coinbase-ipo-everything-you-need-to-know-about-the-watershed-moment-in-crypto-11618350086?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":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.marketwatch.com/story/coinbase-ipo-everything-you-need-to-know-about-the-watershed-moment-in-crypto-11618350086?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2127454000","content_text":"'That said, investing in Coinbase is not for the faint of heart, as the business--and the stock--will likely see dramatic, potentially protracted, swings,' MoffettNathanson's Ellis writesHere comes the Coinbase IPO! Photographer: Tiffany Hagler-Geard/BloombergCoinbase is the talk of Wall Street, as the largest crypto platform in the U.S. gears up for its public debut on a traditional exchange Wednesday, through a direct listing.There is no doubt that the public offering of Coinbase is a big deal in the world of crypto. The company was created just over a decade ago with the genesis of bitcoin  and is now in the midst of a moment that many in the industry have described as a tipping point .There are few ways to get direct ownership of crypto currencies, outside of buying them directly, a service that Coinbase provides for a fee, and what investors appear willing to be pay up for.Leeor Shimron, analyst at FundStrat Global Advisors, described the Coinbase listing as seminal. \"Coinbase's direct listing is a watershed moment for the crypto industry.\"Wedbush analyst Dan Ives said the listing is a reflection of the crypto's mainstream evolution.\"Coinbase is a foundational piece of the crypto ecosystem and is a barometer for the growing mainstream adoption of Bitcoin and crypto for the coming years in our opinion,\" he wrote in a research note Tuesday.Some caution that the implied valuations for Coinbase as a crypto exchange are too lofty , the parent company of the New York Stock Exchange.In a direct listing, a company floats its shares on a stock exchange, but without hiring banks to underwrite the transaction, like in an IPO.Here's what you need to know about the coming offering.What is Coinbase?The Silicon Valley crypto exchange was co-founded in 2012 by Brian Armstrong, 38, who runs the platform as chief executive. Fred Ehrsam, a Coinbase director, also helped to create the company.According to Forbes , Armstrong's networth is currently $6.5 billion based on his ownership in the company and his wealth is likely to increase if the direct listing goes off successfully.When will Coinbase go public?Coinbase will list on April 14. The precise timing of the list isn't clear but Palantir Technologies Inc.'s (PLTR)direct listing   after 1:30 p.m. Eastern Time.Where will it list?Coinbase is set to go public on the Nasdaq under the ticker symbol \"COIN\" as a direct listing, meaning it isn't raising any new money, as a company would under a traditional IPO.Coinbase is the Nasdaq's first major direct listing, with Spotify $(SPOT)$, Slack Technologies (WORK) and most recently Palantir Technologies (PLTR) all opting to directly list at the NYSE.Valuations?Valuations for Coinbase vary from $50 billion to $150 billion based on some decentralized crypto platforms that attempt to replicate how the company's shares might trade. At the top end of the spectrum, Coinbase would be bigger than a number of U.S. exchanges, including ICE, Nasdaq, CME Group $(CME)$ and Cboe Global Markets $(CBOE)$.David Trainer, CEO of New Constructs, an investment research firm, said the crypto platform's value is ridiculously high. \"Even though Coinbase's revenue surged over the past 12 months, the company has little-to-no-chance of meeting the future profit expectations that are baked into its ridiculously high expected valuation of $100 billion,\" he said.\"Coinbase's expected valuation of $100 billion implies that its revenue will be 1.5x the combined 2020 revenues of two of the most established exchanges in the marketplace, Nasdaq Inc. $(NDAQ)$ and Intercontinental Exchange $(ICE)$, the parent company of the New York Stock Exchange,\" he said.Trainer said that based on his calculation, Coinbase's valuation should be closer to $18.9 billion--an 81% decrease from the $100 billion expected valuation.'Not for the faint of heart'MoffettNathanson analyst Lisa Ellis explained to MarketWatch why the offering is, as she describes it \"not for the faint of heart,\" but why she initiated coverage of the exchange at a buy with a price-target of $600, even before it sees its first trade on the Nasdaq.\"I'm super super bullish on Coinbase...because you get the sense that they are a market leader in the space and crypto agnostic,\" she said.That said, she acknowledges that currently 90% of Coinbase's revenues are derived directly from retail trading, with most in the U.S. and trading centered primarily on the two largest cryptos: bitcoin and Ether  on the ethereum blockchain.\"So the implications is that Coinbase's revenues are correlated with the level of activity in cryto currency and especially bitcoin and ether.\"Ellis says investors need to have at least a one-year long-term investment strategy in bitcoin, which could still go to zero by some bearish accounts, but a three-year outlook is even better, because the crypto complex has tended to operate in three-year cycles of boom and then bust.Validation for crypto or a top?Some bulls see Coinbase as validation for the nascent crpyto industry.Alex Mashinsky, head of crypto-lending and trading platform Celsius Network, put it this way:\"We look at the Coinbase listing as an additional validation of the space, and a major PR opportunity for the entire industry to shine as the future of finance,\" he told MarketWatch via email.\"Coinbase has more users and more revenues than many of the largest Wall Street players and is more profitable than any major exchange, and this validation puts most skeptics at a crossroads having to re-evaluate their denial and frustration with the disruption coming at them from all sides.\"Others suggest that it may prove a new top for the market and put crypto prices under pressure after a precipitous rally in recent days and a fresh record for bitcoin.Yves Lamoureux, the president of Montreal-based macroeconomic research firm Lamoureux & Co., told MarketWatch that he is fearful that too much euphoria surrounds bitcoin and crypto and sees it due for a retrenchment as a result. \"Can you find out-there anyone with a bearish viewpoint?\" he asked. \"A resounding no,\" said Lamoureux.Is Coinbase the largest crypto exchange?Coinbase is the second-largest crypto platform, but the largest in the U.S., by volume. The title of largest goes to Binance, which sees $47 billion in crypto trading volume in a 24-hour period, according to CoinMarketCap.com .Who else owns Coinbase?Venture-capital firm Andreessen Horowitz, is the largest owner of Coinbase, boasting about 25% of Class A shares  and 14%% of Class B. And Marc Andreessen, head of the venture capital outfit, sits on Coinbase's board.Other factsFor those aiming for an even deeper dive into Coinbase, check out MarketWatch's 5 things to know about the company.","news_type":1},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345135370,"gmtCreate":1618285848190,"gmtModify":1704708610374,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/345135370","repostId":"1146450605","repostType":4,"repost":{"id":"1146450605","kind":"news","pubTimestamp":1618271053,"share":"https://ttm.financial/m/news/1146450605?lang=&edition=fundamental","pubTime":"2021-04-13 07:44","market":"us","language":"en","title":"S&P 500 closes flat near record high in another muted session ahead of key inflation data","url":"https://stock-news.laohu8.com/highlight/detail?id=1146450605","media":"CNBC","summary":"U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of","content":"<div>\n<p>U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings.The S&P 500 dipped ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/11/stock-market-futures-open-to-close-news.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>S&P 500 closes flat near record high in another muted session ahead of key inflation data</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 closes flat near record high in another muted session ahead of key inflation data\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-13 07:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/11/stock-market-futures-open-to-close-news.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings.The S&P 500 dipped ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/11/stock-market-futures-open-to-close-news.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","NVDA":"英伟达",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","INTC":"英特尔","TSLA":"特斯拉","NUAN":"微妙通讯","MSFT":"微软"},"source_url":"https://www.cnbc.com/2021/04/11/stock-market-futures-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1146450605","content_text":"U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings.The S&P 500 dipped less than 1 point to 4,127.99 after closing at a record high in the previous session. The Dow Jones Industrial Average slipped 55.20 points, or 0.2%, to 33,745.40, also falling from a record high. Intel was the biggest decliner in the blue-chip Dow, dropping more than 4%. The Nasdaq Composite fell 0.4% to 13,850.00.Wall Street has been relatively quiet with the S&P 500 moving within 1% for five sessions in a row. Market volatility has declined to pre-pandemic levels amid rising reopening optimism. The Cboe Volatility Index, AKA the VIX or the market’s fear gauge, has traded below 18 for the past four days, a level unseen since February 2020.Shares of Nuance Communications jumped nearly 16% after Microsoft announced it will buy the speech recognition company in a $16 billion deal.The Nuance acquisition represents Microsoft’s largest acquisition since it bought LinkedIn for more than $26 billion in 2016.Nvidia jumped 5.6% after the chip giant said it first quarter revenue for fiscal 2022 is tracking above its previously provided outlook and that it expects demand to continue to exceed supply for much of this year.Nvidia plans new chip to compete with intel in data-center market.The weakness in reopening plays weighed on the overall market with shares of Carnival and Norwegian Cruise Line off more than 4% each. United Airlines fell 3.9% after the carrier said its first-quarter revenue is expected to fall 66% compared with the same period in 2019. The new guidance fell near the top of the range between 65% and 70% that the company had previously forecast.“Amid new highs it’s not surprising for the market to be moving somewhat in a holding pattern of late,” said Chris Larkin,managing director of trading and investing product at E-Trade. “All eyes will likely be on the CPI read tomorrow for a benchmark on where we stand on the inflation front. And of course we’re ushering in earnings season which could be a catalyst for market moves over the next few weeks.”The first-quarter earnings reporting season begins this week, with expectations set for broadly positive news and an uptrend for U.S. equities thanks to a recovering economy. Many of the nation’s largest banks, including Goldman Sachs and JPMorgan Chase will this week report results for the three months ended March 31.This week is also packed with Federal Reserve speeches and key economic data including a hotly anticipated inflation readingTuesday, when the U.S. consumer price index is released. Economists polled by Dow Jones anticipate a 0.5% gain in CPI month over month and a 2.5% increase from last year’s level.Tesla gained 3.7% to above $700 Monday after Canaccord Genuity upgraded the stock to buy and raised its price target to $1,071, citing its battery innovations.Fed Chairman Jerome Powell on Sunday reiterated that the Fed wants to see inflation rise above its 2% for an extended period before officials move to raise interest rates.“We want to see inflation move up to 2% — and we mean that on a sustainable basis, we don’t mean just tap the base once,” Powell said in an interview that aired Sunday evening on CBS News’ “60 Minutes.” “But then we’d also like to see it on track to move moderately above 2% for some time.”He added that amid an accelerated Covid-19 vaccine rollout and strong fiscal support, the U.S. economy appears to be at a turning point.Powell will also speak Wednesday at an Economic Club of Washington event.Investors will also keep an eye on President Joe Biden’s effort to advance a major infrastructure proposal known as the American Jobs Plan. Biden, who with other Democrats promised significant an infrastructure overhaul in the 2020 elections, wil lmeet with a bipartisan group of lawmakers on Monday to try to persuade Capitol Hill to back the $2 trillion package.Congress will return to Washington this week and be in session for the first time since Biden debuted his proposal, which earmarks hundreds of billions of dollars for roads, bridges, airports, broadband, electric vehicles, housing and job training.The president’s plan would also increase the corporate tax rate to 28% and crack down on other overseas tax avoidance strategies.","news_type":1},"isVote":1,"tweetType":1,"viewCount":334,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342241462,"gmtCreate":1618225697056,"gmtModify":1704707740140,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/342241462","repostId":"1137529737","repostType":4,"repost":{"id":"1137529737","kind":"news","pubTimestamp":1618184239,"share":"https://ttm.financial/m/news/1137529737?lang=&edition=fundamental","pubTime":"2021-04-12 07:37","market":"us","language":"en","title":"JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1137529737","media":"Barrons","summary":"First-quarter earnings season kicks off this week, beginning as always with results from several of ","content":"<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed&nbsp;by Bank of&nbsp;America and Citigroup on Thursday and Morgan Stanley on Friday.</p><p>Other notable companies reporting this week include industrial&nbsp;supplier&nbsp;Fastenalon Tuesday.Delta Air Lines,PepsiCo,and&nbsp;UnitedHealth Group&nbsp;publish results on Thursday. And&nbsp;Kansas City Southern&nbsp;reports on Friday.&nbsp; A total of 22&nbsp;S&amp;P 500&nbsp;companies report this week, followed by 64 next week.</p><p><img src=\"https://static.tigerbbs.com/ac3c413681d3a9e134223c4d1a02d883\" tg-width=\"1410\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p>It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.</p><p>Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.</p><p><b>Monday 4/12</b></p><p>Nvidia&nbsp;hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.</p><p><b>Tuesday 4/13</b></p><p>Fastenal reports quarterly results.</p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.</p><p><b>The National Federation</b>&nbsp;of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.</p><p><b>Wednesday 4/14</b></p><p><b>Earnings season begins</b>&nbsp;in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.</p><p>First Republic Bankreleases earnings.</p><p><b>Coinbase Global</b>&nbsp;is set to&nbsp;make its Wall Street debut&nbsp;on Wednesday through a direct listing of its shares on the Nasdaq.</p><p><b>The BLS reports</b>&nbsp;export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.</p><p><b>The Federal Reserve</b>&nbsp;releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.</p><p><b>Thursday 4/15</b></p><p>Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.</p><p><b>The National Association</b>&nbsp;of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.</p><p><b>The Census Bureau</b>&nbsp;reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.</p><p><b>Friday 4/16</b></p><p>Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and&nbsp;State Street&nbsp;hold conference calls to discuss earnings.</p><p><b>The University of Michigan</b>&nbsp;releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.</p><p><b>The Census Bureau</b>&nbsp;reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.</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>JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, 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\">\nJPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-12 07:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, ...</p>\n\n<a href=\"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_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","GS":"高盛",".SPX":"S&P 500 Index","WFC":"富国银行","NVDA":"英伟达","MS":"摩根士丹利","COIN":"Coinbase Global, Inc.",".DJI":"道琼斯","JPM":"摩根大通"},"source_url":"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137529737","content_text":"First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed by Bank of America and Citigroup on Thursday and Morgan Stanley on Friday.Other notable companies reporting this week include industrial supplier Fastenalon Tuesday.Delta Air Lines,PepsiCo,and UnitedHealth Group publish results on Thursday. And Kansas City Southern reports on Friday.  A total of 22 S&P 500 companies report this week, followed by 64 next week.It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.Monday 4/12Nvidia hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.Tuesday 4/13Fastenal reports quarterly results.The Bureau of Labor Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.The National Federation of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.Wednesday 4/14Earnings season begins in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.First Republic Bankreleases earnings.Coinbase Global is set to make its Wall Street debut on Wednesday through a direct listing of its shares on the Nasdaq.The BLS reports export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.The Federal Reserve releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.Thursday 4/15Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.The Census Bureau reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.Friday 4/16Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and State Street hold conference calls to discuss earnings.The University of Michigan releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.The Census Bureau reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.","news_type":1},"isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348404807,"gmtCreate":1617948377109,"gmtModify":1704705185827,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please&nbsp;","listText":"Comment and like please&nbsp;","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/348404807","repostId":"1147517160","repostType":4,"repost":{"id":"1147517160","kind":"news","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":{".DJI":"道琼斯","SPY":"标普500ETF",".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":342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341751646,"gmtCreate":1617859630585,"gmtModify":1704704044752,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/341751646","repostId":"1141543306","repostType":4,"repost":{"id":"1141543306","kind":"news","pubTimestamp":1617859073,"share":"https://ttm.financial/m/news/1141543306?lang=&edition=fundamental","pubTime":"2021-04-08 13:17","market":"us","language":"en","title":"U.S. Dilemma – How to Stimulate An Economy That Is Already Recovering?","url":"https://stock-news.laohu8.com/highlight/detail?id=1141543306","media":"VantagePoint","summary":"he United States economy is recovering fast from the economic recession generated by the COVID-19 vi","content":"<p><b>he United States economy is recovering fast from the economic recession generated by the COVID-19 virus. Thanks to the successful vaccination campaign currently ongoing, the U.S. is on track to reach herd immunity in three months’ time.</b></p><p>Naturally, this leads to the economy at risk of overheating. If the $1.9 trillion fiscal stimulus delivered in the first quarter of the year was not enough, Congress is about to approve another $2.4 trillion this year.</p><p>Dubbed the “American Jobs Plan”, public investment will increase inflation expectations and boost productivity. It is focusing on a combination of long-term projects in areas such as green energy initiatives, education, healthcare, and infrastructure.</p><p><img src=\"https://static.tigerbbs.com/55cacbbb5c2b9b703b03697cca867895\" tg-width=\"2048\" tg-height=\"1108\" referrerpolicy=\"no-referrer\">Judging by the strong NFP report for the month of March, the new stimulus will push the labor market faster to its pre-pandemic trend. Hence, the Fed will be forced to adjust its monetary policy sooner than expected initially, despite maintaining a dovish stance.</p><p><b>Bond Market Puts Pressure on the Fed</b></p><p>Three forces dominate financial markets at this point in time. One is the U.S. Congress and the speed of releasing fiscal stimulus. Another is the vaccination campaign that will lead to herd immunity faster than rival economies. Finally, there is the Fed willing to remain accommodative while the economy recovers.</p><p>In the middle, there is the bond market. The Bloomberg/Barclays U.S. Aggregate Bond Index represents intermediate-term investment grade bonds traded in the United States.</p><p><img src=\"https://static.tigerbbs.com/93a4f3138085496772df41dfc9c8ea17\" tg-width=\"1667\" tg-height=\"1238\" referrerpolicy=\"no-referrer\">The first quarter of the year was very bad for bonds, as they delivered a loss of 3.37% to investors. This is the worst quarterly return since 1976, and the explanation comes from low coupons and very long durations.</p><p>Declining bond prices mean higher yields, and if the trend continues in the second half of the year, the Fed will break. Make no mistake that the market will put pressure on the Fed as long as the bond market remains in pain.</p><p>The dilemma facing the United States policymakers is how to find a balance between fiscal and monetary stimulus, so that the bond market is not depressed and the economy to avoid overheating. One way to do it is to simply let the yields rise and thus, the financial tightening that comes along will compensate for the Fed’s lack of action. However, that will play out only if the stock market remains at current levels.</p><p>To sum up, the next few months are extremely important for the market participants – we may be at the start of new trends that will influence financial assets for the rest of the year.</p>","source":"lsy1615437168461","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>U.S. Dilemma – How to Stimulate An Economy That Is Already Recovering?</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\">\nU.S. Dilemma – How to Stimulate An Economy That Is Already Recovering?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 13:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://vantagepointtrading.com/news/u-s-dilemma-how-to-stimulate-an-economy-that-is-already-recovering/><strong>VantagePoint</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>he United States economy is recovering fast from the economic recession generated by the COVID-19 virus. Thanks to the successful vaccination campaign currently ongoing, the U.S. is on track to reach ...</p>\n\n<a href=\"https://vantagepointtrading.com/news/u-s-dilemma-how-to-stimulate-an-economy-that-is-already-recovering/\">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"},"source_url":"https://vantagepointtrading.com/news/u-s-dilemma-how-to-stimulate-an-economy-that-is-already-recovering/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141543306","content_text":"he United States economy is recovering fast from the economic recession generated by the COVID-19 virus. Thanks to the successful vaccination campaign currently ongoing, the U.S. is on track to reach herd immunity in three months’ time.Naturally, this leads to the economy at risk of overheating. If the $1.9 trillion fiscal stimulus delivered in the first quarter of the year was not enough, Congress is about to approve another $2.4 trillion this year.Dubbed the “American Jobs Plan”, public investment will increase inflation expectations and boost productivity. It is focusing on a combination of long-term projects in areas such as green energy initiatives, education, healthcare, and infrastructure.Judging by the strong NFP report for the month of March, the new stimulus will push the labor market faster to its pre-pandemic trend. Hence, the Fed will be forced to adjust its monetary policy sooner than expected initially, despite maintaining a dovish stance.Bond Market Puts Pressure on the FedThree forces dominate financial markets at this point in time. One is the U.S. Congress and the speed of releasing fiscal stimulus. Another is the vaccination campaign that will lead to herd immunity faster than rival economies. Finally, there is the Fed willing to remain accommodative while the economy recovers.In the middle, there is the bond market. The Bloomberg/Barclays U.S. Aggregate Bond Index represents intermediate-term investment grade bonds traded in the United States.The first quarter of the year was very bad for bonds, as they delivered a loss of 3.37% to investors. This is the worst quarterly return since 1976, and the explanation comes from low coupons and very long durations.Declining bond prices mean higher yields, and if the trend continues in the second half of the year, the Fed will break. Make no mistake that the market will put pressure on the Fed as long as the bond market remains in pain.The dilemma facing the United States policymakers is how to find a balance between fiscal and monetary stimulus, so that the bond market is not depressed and the economy to avoid overheating. One way to do it is to simply let the yields rise and thus, the financial tightening that comes along will compensate for the Fed’s lack of action. However, that will play out only if the stock market remains at current levels.To sum up, the next few months are extremely important for the market participants – we may be at the start of new trends that will influence financial assets for the rest of the year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":286,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341908344,"gmtCreate":1617767215788,"gmtModify":1704702858976,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please!","listText":"Like and comment please!","text":"Like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/341908344","repostId":"1120109562","repostType":4,"isVote":1,"tweetType":1,"viewCount":313,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575284570991838","authorId":"3575284570991838","name":"TJKE","avatar":"https://static.tigerbbs.com/95e8ee10293b34fe4285a9c7270a10b6","crmLevel":2,"crmLevelSwitch":0,"idStr":"3575284570991838","authorIdStr":"3575284570991838"},"content":"Please reply to this comment","text":"Please reply to this comment","html":"Please reply to this comment"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343176143,"gmtCreate":1617696814382,"gmtModify":1704701892192,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/343176143","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","kind":"news","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",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"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":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349875865,"gmtCreate":1617595411457,"gmtModify":1704700669436,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/349875865","repostId":"2124875875","repostType":4,"repost":{"id":"2124875875","kind":"news","pubTimestamp":1617366960,"share":"https://ttm.financial/m/news/2124875875?lang=&edition=fundamental","pubTime":"2021-04-02 20:36","market":"us","language":"en","title":"Tesla Q1 2021 Vehicle Production & Deliveries","url":"https://stock-news.laohu8.com/highlight/detail?id=2124875875","media":"StreetInsider","summary":"PALO ALTO, Calif., April 02, 2021  -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.Forward-Looking Statements Statements herein regarding the timin","content":"<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.</p>\n<table>\n <tbody>\n  <tr>\n   <td></td>\n   <td><b>Production</b></td>\n   <td><b>Deliveries</b></td>\n   <td><b>Subject to operating lease accounting</b></td>\n  </tr>\n  <tr>\n   <td>Model S/X</td>\n   <td>-</td>\n   <td>2,020</td>\n   <td>6%</td>\n  </tr>\n  <tr>\n   <td>Model 3/Y</td>\n   <td>180,338</td>\n   <td>182,780</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>180,338</b></td>\n   <td><b>184,800</b></td>\n   <td><b>7%</b></td>\n  </tr>\n </tbody>\n</table>\n<p>***************</p>\n<p>Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only <a href=\"https://laohu8.com/S/AONE\">one</a> measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.</p>\n<p><b>Forward-Looking Statements</b>&nbsp;Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.</p>\n<p><img src=\"https://static.tigerbbs.com/db04c7b378cb2db912c3ba8a5a774ee3\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/c2196de8ba412c60c22ab491af7b1409\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Q1 2021 Vehicle Production & Deliveries</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Q1 2021 Vehicle Production & Deliveries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18215929><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18215929\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18215929","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124875875","content_text":"PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.\n\n\n\n\nProduction\nDeliveries\nSubject to operating lease accounting\n\n\nModel S/X\n-\n2,020\n6%\n\n\nModel 3/Y\n180,338\n182,780\n7%\n\n\nTotal\n180,338\n184,800\n7%\n\n\n\n***************\nOur net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.\nForward-Looking Statements Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349964509,"gmtCreate":1617523190601,"gmtModify":1704700222776,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/349964509","repostId":"2124875875","repostType":4,"repost":{"id":"2124875875","kind":"news","pubTimestamp":1617366960,"share":"https://ttm.financial/m/news/2124875875?lang=&edition=fundamental","pubTime":"2021-04-02 20:36","market":"us","language":"en","title":"Tesla Q1 2021 Vehicle Production & Deliveries","url":"https://stock-news.laohu8.com/highlight/detail?id=2124875875","media":"StreetInsider","summary":"PALO ALTO, Calif., April 02, 2021  -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.Forward-Looking Statements Statements herein regarding the timin","content":"<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.</p>\n<table>\n <tbody>\n  <tr>\n   <td></td>\n   <td><b>Production</b></td>\n   <td><b>Deliveries</b></td>\n   <td><b>Subject to operating lease accounting</b></td>\n  </tr>\n  <tr>\n   <td>Model S/X</td>\n   <td>-</td>\n   <td>2,020</td>\n   <td>6%</td>\n  </tr>\n  <tr>\n   <td>Model 3/Y</td>\n   <td>180,338</td>\n   <td>182,780</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>180,338</b></td>\n   <td><b>184,800</b></td>\n   <td><b>7%</b></td>\n  </tr>\n </tbody>\n</table>\n<p>***************</p>\n<p>Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only <a href=\"https://laohu8.com/S/AONE\">one</a> measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.</p>\n<p><b>Forward-Looking Statements</b>&nbsp;Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.</p>\n<p><img src=\"https://static.tigerbbs.com/db04c7b378cb2db912c3ba8a5a774ee3\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/c2196de8ba412c60c22ab491af7b1409\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Q1 2021 Vehicle Production & Deliveries</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Q1 2021 Vehicle Production & Deliveries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18215929><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18215929\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18215929","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124875875","content_text":"PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.\n\n\n\n\nProduction\nDeliveries\nSubject to operating lease accounting\n\n\nModel S/X\n-\n2,020\n6%\n\n\nModel 3/Y\n180,338\n182,780\n7%\n\n\nTotal\n180,338\n184,800\n7%\n\n\n\n***************\nOur net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.\nForward-Looking Statements Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340325586,"gmtCreate":1617343537445,"gmtModify":1704699024140,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please thanks","listText":"Comment and like please thanks","text":"Comment and like please thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/340325586","repostId":"2124731070","repostType":4,"isVote":1,"tweetType":1,"viewCount":79,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357827072,"gmtCreate":1617261518896,"gmtModify":1704697932813,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/357827072","repostId":"1114508447","repostType":4,"repost":{"id":"1114508447","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1617261334,"share":"https://ttm.financial/m/news/1114508447?lang=&edition=fundamental","pubTime":"2021-04-01 15:15","market":"us","language":"en","title":"Cramer Says Forget Tech And Look To These Sectors In Q2","url":"https://stock-news.laohu8.com/highlight/detail?id=1114508447","media":"Benzinga","summary":"As the second quarter kicks off, CNBC host Jim Cramer has cautioned against investing in tech and he","content":"<p>As the second quarter kicks off, CNBC host Jim Cramer has cautioned against investing in tech and healthcare stocks.</p><p><b>What Happened:</b>Cramersaidhe is bullish on industrial and bank stocks and advised investors to focus on the boom-and-bust cyclical stocks amid a booming economy.</p><p>“As the second quarter gets rolling, I think this market will become even kinder to the industrials and … the banks and even less hospitable to tech and health care,” Cramer said on CNBC’s \"Mad Money\" show.</p><p>Cramer touted steel products supplier<b>Cleveland-Cliffs Inc</b>. (NYSE:CLF) as a likely winner in the second quarter.</p><p>According to Cramer, the company is putting up numbers that are attracting money from big fund investors who are shifting away from tech stocks such as<b>Amazon.com Inc</b>. (NASDAQ:AMZN),<b>Apple Inc</b>. (NASDAQ:AAPL),<b>Zscaler Inc</b>. (NASDAQ:ZS) and<b>ServiceNow Inc.</b>(NYSE:NOW). The shares of all the four tech companies are down in a range of 5% to 14% for the year-to-date period.</p><p>Cleveland-Cliffs’ stock jumped almost 17% in Wednesday’s trading session after the companyprovidedupdated financial guidance for the first and second quarters as well as for fiscal 2021. The company will announce its first-quarter earnings results on April 22.</p><p>Money managers are interested in companies that can deliver the biggest upside surprises and are not bothered about the most exciting long-term growth stories, according to Cramer. He also noted that higher inflation as the economy gains momentum could be devastating for stocks of companies that may represent future growth.</p><p><b>Why It Matters</b>: U.S. stocks closed mostly higher on Wednesday, the last day of the first quarter. The S&amp;P 500 added 0.4% and the tech-heavy Nasdaq Composite rose 1.5%, while the Dow Jones Industrial Average declined 0.3%. However, Cramer called the Nasdaq Composite’s advance a “countertrend rally.”</p><p>While tech stocks gained strongly last year amid the pandemic, investors are now shifting focus to recovery and cyclical stocks amid increased optimism about government spending and Covid vaccinations.</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>Cramer Says Forget Tech And Look To These Sectors In Q2</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\">\nCramer Says Forget Tech And Look To These Sectors In Q2\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/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-04-01 15:15</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>As the second quarter kicks off, CNBC host Jim Cramer has cautioned against investing in tech and healthcare stocks.</p><p><b>What Happened:</b>Cramersaidhe is bullish on industrial and bank stocks and advised investors to focus on the boom-and-bust cyclical stocks amid a booming economy.</p><p>“As the second quarter gets rolling, I think this market will become even kinder to the industrials and … the banks and even less hospitable to tech and health care,” Cramer said on CNBC’s \"Mad Money\" show.</p><p>Cramer touted steel products supplier<b>Cleveland-Cliffs Inc</b>. (NYSE:CLF) as a likely winner in the second quarter.</p><p>According to Cramer, the company is putting up numbers that are attracting money from big fund investors who are shifting away from tech stocks such as<b>Amazon.com Inc</b>. (NASDAQ:AMZN),<b>Apple Inc</b>. (NASDAQ:AAPL),<b>Zscaler Inc</b>. (NASDAQ:ZS) and<b>ServiceNow Inc.</b>(NYSE:NOW). The shares of all the four tech companies are down in a range of 5% to 14% for the year-to-date period.</p><p>Cleveland-Cliffs’ stock jumped almost 17% in Wednesday’s trading session after the companyprovidedupdated financial guidance for the first and second quarters as well as for fiscal 2021. The company will announce its first-quarter earnings results on April 22.</p><p>Money managers are interested in companies that can deliver the biggest upside surprises and are not bothered about the most exciting long-term growth stories, according to Cramer. He also noted that higher inflation as the economy gains momentum could be devastating for stocks of companies that may represent future growth.</p><p><b>Why It Matters</b>: U.S. stocks closed mostly higher on Wednesday, the last day of the first quarter. The S&amp;P 500 added 0.4% and the tech-heavy Nasdaq Composite rose 1.5%, while the Dow Jones Industrial Average declined 0.3%. However, Cramer called the Nasdaq Composite’s advance a “countertrend rally.”</p><p>While tech stocks gained strongly last year amid the pandemic, investors are now shifting focus to recovery and cyclical stocks amid increased optimism about government spending and Covid vaccinations.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114508447","content_text":"As the second quarter kicks off, CNBC host Jim Cramer has cautioned against investing in tech and healthcare stocks.What Happened:Cramersaidhe is bullish on industrial and bank stocks and advised investors to focus on the boom-and-bust cyclical stocks amid a booming economy.“As the second quarter gets rolling, I think this market will become even kinder to the industrials and … the banks and even less hospitable to tech and health care,” Cramer said on CNBC’s \"Mad Money\" show.Cramer touted steel products supplierCleveland-Cliffs Inc. (NYSE:CLF) as a likely winner in the second quarter.According to Cramer, the company is putting up numbers that are attracting money from big fund investors who are shifting away from tech stocks such asAmazon.com Inc. (NASDAQ:AMZN),Apple Inc. (NASDAQ:AAPL),Zscaler Inc. (NASDAQ:ZS) andServiceNow Inc.(NYSE:NOW). The shares of all the four tech companies are down in a range of 5% to 14% for the year-to-date period.Cleveland-Cliffs’ stock jumped almost 17% in Wednesday’s trading session after the companyprovidedupdated financial guidance for the first and second quarters as well as for fiscal 2021. The company will announce its first-quarter earnings results on April 22.Money managers are interested in companies that can deliver the biggest upside surprises and are not bothered about the most exciting long-term growth stories, according to Cramer. He also noted that higher inflation as the economy gains momentum could be devastating for stocks of companies that may represent future growth.Why It Matters: U.S. stocks closed mostly higher on Wednesday, the last day of the first quarter. The S&P 500 added 0.4% and the tech-heavy Nasdaq Composite rose 1.5%, while the Dow Jones Industrial Average declined 0.3%. However, Cramer called the Nasdaq Composite’s advance a “countertrend rally.”While tech stocks gained strongly last year amid the pandemic, investors are now shifting focus to recovery and cyclical stocks amid increased optimism about government spending and Covid vaccinations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":53,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354643897,"gmtCreate":1617171123019,"gmtModify":1704696752660,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/354643897","repostId":"2123524465","repostType":4,"isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354649714,"gmtCreate":1617171055838,"gmtModify":1704696752001,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please&nbsp;","listText":"Comment and like please&nbsp;","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/354649714","repostId":"1163996400","repostType":4,"repost":{"id":"1163996400","kind":"news","pubTimestamp":1617094880,"share":"https://ttm.financial/m/news/1163996400?lang=&edition=fundamental","pubTime":"2021-03-30 17:01","market":"us","language":"en","title":"Coursera: The Education Disruptor Goes Public","url":"https://stock-news.laohu8.com/highlight/detail?id=1163996400","media":"seekingalpha","summary":"SummaryThe company is growing rapidly as a result of secular trends as well as the Covid-19 pandemic","content":"<p><b>Summary</b></p><ul><li>The company is growing rapidly as a result of secular trends as well as the Covid-19 pandemic.</li><li>It is operating in a huge addressable market that is likely to grow for the foreseeable future.</li><li>Coursera enjoys many competitive advantages, among them a large, existing user base, price-to-cost advantages, and the ability to personalize content as a result of its trove of data.</li><li>Given its scale, and competitive advantages, the company should win an outsized share of its market opportunity.</li><li>However, because the company has not turned a profit, there is a chance that its stock may be too volatile in the near term. Buying when the company turns a profit is the safer bet.</li></ul><p>Coursera (COURS), the online learning platform founded in 2012 by former Stanford University computer science professors Daphne Koller and Andrew Ng, filed itsIPO prospectuswith the Securities and Exchange Commission (SEC). The Mountain View, California-based company offers individuals access to over 4,000 Massive Open Online Courses (MOOCs) from 200 educational institutions and corporations. The company also offers over two dozen degree programs at prices lower than what a learner would pay at a traditional, in-person institution. As the company grows its offering, it will be able to compete head-to-head with other “online program management” (OPM) providers, such as 2U(NASDAQ:TWOU), which is already publicly traded, and Noodle Partners.</p><p>Ng’sshareholder letter in the S-1articulated clearly just what the company is about:</p><blockquote>“We believe that education is the source of human progress. In today’s economy in which the skills needed to succeed are rapidly evolving, education is becoming more important than ever. As automation and digital disruption are poised to replace unprecedented numbers of jobs worldwide, giving workers the opportunity to upskill and reskill will be crucial to raising global living standards and increasing social equity. Online education will play a critical role, enabling anyone, anywhere, to gain the valuable skills they need to earn a living in an increasingly digital economy.”</blockquote><p>The filing lists Morgan Stanley, Goldman Sachs and Citigroup as underwriters. The number of shares and the price range of the proposed offering are yet to be determined.According to PitchBook data, Coursera’s most recent valuation in the private markets was $2.5 billion. To date, the company has raised $464 million in venture capital, most recently,$130 million in a Series F roundlast July. Coursera’s biggest institutional shareholders are New Enterprise Associates (18.3% of company stock), G Squared (15.9%) and Kleiner Perkins (9.2%).</p><p><b>Operating Results</b></p><p>The company earned $293 million in revenues for the fiscal year ended December 31, 2020, up 59% from 2019. Net losses widened by about $20 million year-on-year, reaching $66.8 million in 2020. Revenues shot up as a result of the Covid-19 pandemic’s effect on traditional education. In tandem with rising demand, operating costs associated with the company’s services rose, largely driven by the freemium content and marketing expenses. Coursera added over 12,000 new degree learners across the two years ended December 31, 2020 at an average acquisition cost of just below $2,000. The number of registered users rose by 65% year-on-year in 2020. Coursera’s accumulated deficit since its founding stood at $343.6 million as of December 31, 2020. The company does not expect to turn a profit in the foreseeable future.</p><p>The company’sCoursera for Campus,launched in late 2019to enable colleges to offer its library of MOOCs to their students, has been a key driver of recent revenue growth. At the start of the pandemic, Coursera made the program free to tertiary institutions until Sept. 30, 2020. Over 4,000 tertiary institutions from across the world signed up for the program, which, according to the company’s S-1 filing, makes it, “one of our fastest growing offerings”. As of December 31, 2020, over 130 tertiary institutions were paying for it.</p><p>At this point, it is hard to predict what the end of the pandemic would have on the company’s operating results.</p><p><b>The Strategy and Market Opportunity</b></p><p>Coursera is one of the most disruptive firms in the world. It has a flywheel approach to value creation, with significant price-to-cost advantages versus its competition. The company reported that about half of its new degree students in 2020 had been previously registered with Coursera and that its average student acquisition cost was less than $2,000. Its average student acquisition cost is lower than the industry standard. The edu-tech platform is able to efficiently acquire learners at scale because of the huge number of free, high-quality courses that it offers in partnership with top educational institutions and corporations; its ability to personalize content based on its wealth of data; the strength of word-of-mouth promotion by learners; the profitability of its affiliate paid marketing channel.</p><p>The platform offers a number of education tracks, for example:</p><ul><li>Specializations: A learner can pay between $39 and $99 a month for job-specific content across over 500 categories.</li><li>MasterTrack Certificates: For a quarter to a year, a learner can earn a certificate issued by a university-issued certificate. Prices range from $2,000 to $6,000.</li><li>Bachelor’s or Master’s Degrees: Fees range from $9,000 to $45,000.</li><li>Coursera for Enterprise: Through this platform, businesses, educational institutions and governments can deploy content to their learners.</li></ul><p>In response to the Covid-19 pandemic, Coursera partnered with over 330 government agencies across 30 U.S. states and cities and 70 countries as part of itsCoursera Workforce Recovery Initiative, which gave governments the chance to offer unemployed workers free access to thousands of business, data science, and technology courses from companies such as Amazon(NASDAQ:AMZN)and Google(NASDAQ:GOOG)(NASDAQ:GOOGL).</p><p>The company has 77 million registered learners, as well as over 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies who paid for its enterprise offerings. The majority of its revenue (51%) was earned outside of the United States. Converting only a fraction of its 77 million registered users into paid users would change the economics of customer acquisition. The company’s present scale is a huge competitive advantage in the market.</p><p>A learner’s curriculum is designed to be “stackable”, which is to say that a learner can go through a domain in an incremental fashion. The company is able to leverage the huge volume of data it has accumulated from its over 220 million enrollments to personalize content. So, for example, Coursera’s Skills Graphs can suggest paths for job skills.</p><p>Coursera uses technology to drive down distribution costs, make content more affordable, extend access to less economically-endowed regions, help learners keep abreast of emerging skills, and grow its market opportunity. The Covid-19 pandemic has only accelerated secular trends towards the use of technology in education.</p><p>The size of the addressable market is massive and it’s easy to see why.An August 2020 study by the United Nationsdemonstrates the degree of disruption brought on by the Covid-19 pandemic: of the 1.6 billion students in 190 countries covered in the report, or 94% of the world’s students, were prevented from going to school because of Covid-19 pandemic related school closures.</p><p>In 2017, the World Bank indicated thatof the 200 million college students in the world, many do not have job-specific skills.</p><p>The Covid-19 pandemic and prior secular trends suggest that the future of education is in blended classrooms, job-specific education and continuous, lifelong education. Online learning platforms like Coursera will be the primary means through which educational content is delivered.</p><p>Globally, spending on higher education in 2019 was $2.2 trillion,according to HolonIQ. Spending on online degrees was $36 billion and is predicted to reach $74 billion by 2025.</p><p>With a huge, existing learner base; a strong brand; and the significant advantages detailed above, Coursera is likely to grab a significant amount of the market’s growth. Of thescenarios for the future of education, it seems that Coursera will continue to grow.</p><p><b>Conclusion</b></p><p>Coursera seems poised to meet the challenges of a changing education landscape. With its vast, existing user base, its flywheel model, its competitive advantages, and its existence in a huge and growing addressable market, the company is likely to do very well. The company’s value proposition is compelling. However, long run success does not equate to a good investment in the short run. An unprofitable company like Coursera is likely to be very volatile on the markets until it reaches profitability. It is better to wait for Coursera to turn a profit before investing in the company.</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>Coursera: The Education Disruptor Goes Public</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\">\nCoursera: The Education Disruptor Goes Public\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 17:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4413745-coursera-education-disruptor-goes-public><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryThe company is growing rapidly as a result of secular trends as well as the Covid-19 pandemic.It is operating in a huge addressable market that is likely to grow for the foreseeable future.C...</p>\n\n<a href=\"https://seekingalpha.com/article/4413745-coursera-education-disruptor-goes-public\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7cedd6cbf23bbe97eaec389fb0773ed6","relate_stocks":{"COUR":"Coursera, Inc."},"source_url":"https://seekingalpha.com/article/4413745-coursera-education-disruptor-goes-public","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1163996400","content_text":"SummaryThe company is growing rapidly as a result of secular trends as well as the Covid-19 pandemic.It is operating in a huge addressable market that is likely to grow for the foreseeable future.Coursera enjoys many competitive advantages, among them a large, existing user base, price-to-cost advantages, and the ability to personalize content as a result of its trove of data.Given its scale, and competitive advantages, the company should win an outsized share of its market opportunity.However, because the company has not turned a profit, there is a chance that its stock may be too volatile in the near term. Buying when the company turns a profit is the safer bet.Coursera (COURS), the online learning platform founded in 2012 by former Stanford University computer science professors Daphne Koller and Andrew Ng, filed itsIPO prospectuswith the Securities and Exchange Commission (SEC). The Mountain View, California-based company offers individuals access to over 4,000 Massive Open Online Courses (MOOCs) from 200 educational institutions and corporations. The company also offers over two dozen degree programs at prices lower than what a learner would pay at a traditional, in-person institution. As the company grows its offering, it will be able to compete head-to-head with other “online program management” (OPM) providers, such as 2U(NASDAQ:TWOU), which is already publicly traded, and Noodle Partners.Ng’sshareholder letter in the S-1articulated clearly just what the company is about:“We believe that education is the source of human progress. In today’s economy in which the skills needed to succeed are rapidly evolving, education is becoming more important than ever. As automation and digital disruption are poised to replace unprecedented numbers of jobs worldwide, giving workers the opportunity to upskill and reskill will be crucial to raising global living standards and increasing social equity. Online education will play a critical role, enabling anyone, anywhere, to gain the valuable skills they need to earn a living in an increasingly digital economy.”The filing lists Morgan Stanley, Goldman Sachs and Citigroup as underwriters. The number of shares and the price range of the proposed offering are yet to be determined.According to PitchBook data, Coursera’s most recent valuation in the private markets was $2.5 billion. To date, the company has raised $464 million in venture capital, most recently,$130 million in a Series F roundlast July. Coursera’s biggest institutional shareholders are New Enterprise Associates (18.3% of company stock), G Squared (15.9%) and Kleiner Perkins (9.2%).Operating ResultsThe company earned $293 million in revenues for the fiscal year ended December 31, 2020, up 59% from 2019. Net losses widened by about $20 million year-on-year, reaching $66.8 million in 2020. Revenues shot up as a result of the Covid-19 pandemic’s effect on traditional education. In tandem with rising demand, operating costs associated with the company’s services rose, largely driven by the freemium content and marketing expenses. Coursera added over 12,000 new degree learners across the two years ended December 31, 2020 at an average acquisition cost of just below $2,000. The number of registered users rose by 65% year-on-year in 2020. Coursera’s accumulated deficit since its founding stood at $343.6 million as of December 31, 2020. The company does not expect to turn a profit in the foreseeable future.The company’sCoursera for Campus,launched in late 2019to enable colleges to offer its library of MOOCs to their students, has been a key driver of recent revenue growth. At the start of the pandemic, Coursera made the program free to tertiary institutions until Sept. 30, 2020. Over 4,000 tertiary institutions from across the world signed up for the program, which, according to the company’s S-1 filing, makes it, “one of our fastest growing offerings”. As of December 31, 2020, over 130 tertiary institutions were paying for it.At this point, it is hard to predict what the end of the pandemic would have on the company’s operating results.The Strategy and Market OpportunityCoursera is one of the most disruptive firms in the world. It has a flywheel approach to value creation, with significant price-to-cost advantages versus its competition. The company reported that about half of its new degree students in 2020 had been previously registered with Coursera and that its average student acquisition cost was less than $2,000. Its average student acquisition cost is lower than the industry standard. The edu-tech platform is able to efficiently acquire learners at scale because of the huge number of free, high-quality courses that it offers in partnership with top educational institutions and corporations; its ability to personalize content based on its wealth of data; the strength of word-of-mouth promotion by learners; the profitability of its affiliate paid marketing channel.The platform offers a number of education tracks, for example:Specializations: A learner can pay between $39 and $99 a month for job-specific content across over 500 categories.MasterTrack Certificates: For a quarter to a year, a learner can earn a certificate issued by a university-issued certificate. Prices range from $2,000 to $6,000.Bachelor’s or Master’s Degrees: Fees range from $9,000 to $45,000.Coursera for Enterprise: Through this platform, businesses, educational institutions and governments can deploy content to their learners.In response to the Covid-19 pandemic, Coursera partnered with over 330 government agencies across 30 U.S. states and cities and 70 countries as part of itsCoursera Workforce Recovery Initiative, which gave governments the chance to offer unemployed workers free access to thousands of business, data science, and technology courses from companies such as Amazon(NASDAQ:AMZN)and Google(NASDAQ:GOOG)(NASDAQ:GOOGL).The company has 77 million registered learners, as well as over 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies who paid for its enterprise offerings. The majority of its revenue (51%) was earned outside of the United States. Converting only a fraction of its 77 million registered users into paid users would change the economics of customer acquisition. The company’s present scale is a huge competitive advantage in the market.A learner’s curriculum is designed to be “stackable”, which is to say that a learner can go through a domain in an incremental fashion. The company is able to leverage the huge volume of data it has accumulated from its over 220 million enrollments to personalize content. So, for example, Coursera’s Skills Graphs can suggest paths for job skills.Coursera uses technology to drive down distribution costs, make content more affordable, extend access to less economically-endowed regions, help learners keep abreast of emerging skills, and grow its market opportunity. The Covid-19 pandemic has only accelerated secular trends towards the use of technology in education.The size of the addressable market is massive and it’s easy to see why.An August 2020 study by the United Nationsdemonstrates the degree of disruption brought on by the Covid-19 pandemic: of the 1.6 billion students in 190 countries covered in the report, or 94% of the world’s students, were prevented from going to school because of Covid-19 pandemic related school closures.In 2017, the World Bank indicated thatof the 200 million college students in the world, many do not have job-specific skills.The Covid-19 pandemic and prior secular trends suggest that the future of education is in blended classrooms, job-specific education and continuous, lifelong education. Online learning platforms like Coursera will be the primary means through which educational content is delivered.Globally, spending on higher education in 2019 was $2.2 trillion,according to HolonIQ. Spending on online degrees was $36 billion and is predicted to reach $74 billion by 2025.With a huge, existing learner base; a strong brand; and the significant advantages detailed above, Coursera is likely to grab a significant amount of the market’s growth. Of thescenarios for the future of education, it seems that Coursera will continue to grow.ConclusionCoursera seems poised to meet the challenges of a changing education landscape. With its vast, existing user base, its flywheel model, its competitive advantages, and its existence in a huge and growing addressable market, the company is likely to do very well. The company’s value proposition is compelling. However, long run success does not equate to a good investment in the short run. An unprofitable company like Coursera is likely to be very volatile on the markets until it reaches profitability. It is better to wait for Coursera to turn a profit before investing in the company.","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355210465,"gmtCreate":1617074635057,"gmtModify":1704801613281,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/355210465","repostId":"1144154025","repostType":4,"repost":{"id":"1144154025","kind":"news","pubTimestamp":1617074424,"share":"https://ttm.financial/m/news/1144154025?lang=&edition=fundamental","pubTime":"2021-03-30 11:20","market":"us","language":"en","title":"VW accidentally leaks new name for its U.S. operations: Voltswagen","url":"https://stock-news.laohu8.com/highlight/detail?id=1144154025","media":"CNBC","summary":"Volkswagen accidentally posted a press release on its website a month early on Monday announcing a n","content":"<div>\n<p>Volkswagen accidentally posted a press release on its website a month early on Monday announcing a new name for its U.S. operations, Voltswagen of America, emphasizing the German automaker’s electric ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/29/vw-accidentally-leaks-new-name-for-its-us-operations-voltswagen.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>VW accidentally leaks new name for its U.S. operations: Voltswagen</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\">\nVW accidentally leaks new name for its U.S. operations: Voltswagen\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 11:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/29/vw-accidentally-leaks-new-name-for-its-us-operations-voltswagen.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Volkswagen accidentally posted a press release on its website a month early on Monday announcing a new name for its U.S. operations, Voltswagen of America, emphasizing the German automaker’s electric ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/29/vw-accidentally-leaks-new-name-for-its-us-operations-voltswagen.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/8bfcef2e280722d5462ba78574c4faaf","relate_stocks":{"VLKAY":"大众汽车"},"source_url":"https://www.cnbc.com/2021/03/29/vw-accidentally-leaks-new-name-for-its-us-operations-voltswagen.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1144154025","content_text":"Volkswagen accidentally posted a press release on its website a month early on Monday announcing a new name for its U.S. operations, Voltswagen of America, emphasizing the German automaker’s electric vehicle efforts.\nA spokesman for the company declined to comment on the release, which was dated April 29 and has since been taken down.\nA person familiar with the company’s plans confirmed the authenticity of the release to CNBC. They asked to remain anonymous because the plans were not meant to be public yet.\nThe release said the name change is expected to take effect in May and called the change a \"public declaration of the company's future-forward investment in e-mobility.\" It said Voltswagen will be placed as an exterior badge on all EV models with gas vehicles having the company's iconic VW emblem only.\nTo \"preserve elements of Volkswagen's heritage,\" the release said the company planned to retain the dark blue color of the VW logo for gas-powered vehicles and use light blue to differentiate \"the new, EV-centric branding.\"\nThe release said Voltswagen of America would remain an operating unit of Volkswagen Group of America and a subsidiary of Volkswagen AG, with headquarters in Herndon, Virginia.\nVolts are the derived units for electric potential, also known as electromotive force, between two points. General Motors previously used Volt for a plug-in hybrid electric vehicle between 2010 and 2019.\nThe VW press release was incomplete, citing the need for an additional quote and photography from the automaker’s plant in Chattanooga, Tennessee.\nA name change would be the latest EV news from Volkswagen, which earlier this monthheld a “Power Day” to discuss its EV technologies. It also announced goals of significantly increasing sales of EVs through the end of the decade. It expects more than 70% of its Volkswagen brand’s European sales will be EVs by 2030, up from a previous target of 35%. In the U.S. and China, it expects half of its sales to be EVs by that time frame.\nGM earlier this year didn’t go as far as changing its name but announced a new logo and ad campaign focused on EVs. The Detroit automaker’s new logo features its gm initials in lowercase letters with the “m” underlined as a nod to its Ultium battery cell platform that will underpin its new EVs The blue letters are inside a rounded box of the same color. It replaced a white GM underlined within a darker blue block.","news_type":1},"isVote":1,"tweetType":1,"viewCount":189,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352831947,"gmtCreate":1616923150489,"gmtModify":1704799998237,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/352831947","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616780260,"share":"https://ttm.financial/m/news/1141686975?lang=&edition=fundamental","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></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>Zhihu Technology fall on its first day 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\">\nZhihu Technology fall on its first day of trading\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\">2021-03-27 01:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352042506,"gmtCreate":1616841292805,"gmtModify":1704799553812,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574717274301876","authorIdStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/352042506","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616780260,"share":"https://ttm.financial/m/news/1141686975?lang=&edition=fundamental","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></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>Zhihu Technology fall on its first day 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\">\nZhihu Technology fall on its first day of trading\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\">2021-03-27 01:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":322132760,"gmtCreate":1615781798550,"gmtModify":1704786399689,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/322132760","repostId":"1108838813","repostType":4,"repost":{"id":"1108838813","kind":"news","pubTimestamp":1615780854,"share":"https://ttm.financial/m/news/1108838813?lang=&edition=fundamental","pubTime":"2021-03-15 12:00","market":"us","language":"en","title":"Koss: Don't Buy The Hype On This Highly Shorted Meme Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1108838813","media":"seekingalpha","summary":"Summary\n\nKoss is a small electronics company that got caught up in the meme stock runup, but has lit","content":"<p><b>Summary</b></p>\n<ul>\n <li>Koss is a small electronics company that got caught up in the meme stock runup, but has little hope for massive growth in the future.</li>\n <li>Meme stocks trade on hype instead of fundamentals, so be careful not to lose your shirt.</li>\n <li>Koss offers massive upside during the next short squeeze, but should be avoided as a long-term investment.</li>\n</ul>\n<p>Koss(NASDAQ:KOSS)is a headphone and electronic accessories company that has gotten a lot of attention recently due to the rise of \"Meme Stocks\" like GameStop (GME) and AMC (AMC).</p>\n<p>Retail traders began focusing on stocks with low float and&nbsp;high short interest&nbsp;since the beginning of the global pandemic in 2020. Stocks like Koss are great swing trading plays, but make for terrible long-term investments. If you're looking for an upside with high risk, then turn your attention to the smallest meme stock based on market cap.</p>\n<p><b>Koss's Business Model</b></p>\n<p>Koss makes headphones and I remember owning a cheap pair of Koss stereo headphones back when I was a kid growing up in Washington DC.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e95dc4b8abb3cfd7b46768b728106912\" tg-width=\"640\" tg-height=\"640\"><span>Source: Koss.com</span></p>\n<p>Since then, big tech companies like Apple (AAPL) entered the headphone market and stole market share from longstanding headphone makers.</p>\n<p>Koss reported just under $5 million&nbsp;in total revenue for the quarter ending December 31, 2020. Net income per share equaled 7 cents (up from 3 cents during the same period in 2019). Many Americans were forced to work from home during the global pandemic, which helped lift electronic accessory sales nationwide. TTM sales are around $18 million, and the company has a cash position of $4.39 million. With a market cap of around $192 million, Koss stock trades at a reasonable P/S ratio but lacks significant revenue growth in the future.</p>\n<p>Koss is a small, yet profitable company but doesn't possess big upside like other big tech companies. However, that didn't stop retail traders from targeting the 63-year-old company as a prime target for an epic short squeeze.</p>\n<p><b>The Koss Short Squeeze Explained</b></p>\n<p>In late January, Reddit users of the subreddit \"WallStreetBets\" decided to team up and earn billions of dollars in profits by targeting low float stocks with high short positions. The goal was to force hedge funds with short positions to buy back the stock at a higher price to create a short squeeze. Short sellers borrow shares of a stock, then sell them off with hopes of buying back the stock at a cheaper price to earn a profit.</p>\n<p>However, WallStreetBets realized that Wall Street short sellers made a critical error. Koss had a high short interest of over 38% percent with a low float. With only a float of 3 million, any massive increase in buying power would send the stock soaring and force shorts to cover their losing positions.</p>\n<p>Koss stock did just that.</p>\n<p>KOSS jumped from $3.34 to $10 between January 22nd and 26th, then skyrocketed to an all-time high of $127.Robinhood famously stepped in and deleted the buy button&nbsp;to put an end to the epic short squeeze.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60ee1f3d2437467a9c7dee1572cbb0c6\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>Now that the dust has settled, Koss has a much lower short interest of 14% and the WSB crowd has shifted its sights on other short squeeze targets.</p>\n<p><b>How to Profit from Koss During the Next Short Squeeze</b></p>\n<p>I cannot recommend Koss as a good, long-term investment because I mainly write about hyper growth stocks that can return at least 30% to 40% annually. Koss is an old dinosaur of a company with little hope for future growth.</p>\n<p>But there is a way to profit from the next Koss short squeeze if it happens.</p>\n<p>The best way to play Koss stock is to monitor theRSI(relative strength index) and volume. RSI is my favorite technical analysis indicator to determine whether a stock is overbought or oversold. We want to monitor KOSS stock when it gets \"boring\" and the RSI dips to around 50 or below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/56e3c62dab17827007451bf5fa2fe2a4\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>Unfortunately, novice traders make the classic mistake of buying what's popular and exposing themselves to the potential for massive losses. People who bought KOSS at $100 or more believed the stock could go to $200, but in reality, they lost a ton of money and probably stopped trading stocks altogether.</p>\n<p>Koss had an RSI of 90 at its peak, signaling it was time to sell and get out of the stock. Monitor the RSI will help you avoid \"buying at the top\" and reduce your exposure to massive trading losses.</p>\n<p>Volume is another key indicator that will give us information on when to enter the trade. Wait for volume spikes before buying the stock because you don't want to hold KOSS shares in anticipation of a bullish move. Set up an alert to notify you when Koss stock volume is up or just monitor&nbsp;Yahoo! Finance Trending Tickers&nbsp;to find a good entry point.</p>\n<p>My strategy is to buy Koss stock when the RSI is near or below 50, then sell it once it reaches 65 or more. It's a sound strategy that will protect you from losses because you must limit downside risk.</p>\n<p><b>Risk Factors: Inflated Stock Prices Due to Massive Hype</b></p>\n<p>As I mentioned above, too many novice traders \"buy the hype\" and expose themselves to huge losses.</p>\n<p>Meme stocks trade on hype instead of fundamentals. If you really think that Koss stock will keep soaring when the underlying business earns $18 million annually, then you will lose your shirt. Never buy the hype or chase a bullish runup. Wait for a good entry position at a much cheaper price when the next bullish run happens.</p>\n<p>There are literally thousands of stocks to choose from every day. No reason to chase gains or FOMO.</p>\n<p><b>Conclusion</b></p>\n<p>Koss is a small electronics company that hasn't shown signs of hypergrowth potential. The best strategy for Koss shares is to buy low during higher volume, then dump the stock once the RSI gets too high.</p>\n<p>I don't recommend Koss as a long-term investment and prefer Apple stock over the long term. If you must chase massive gains trading meme stocks like Koss, then protect yourself at all costs and don't buy the hype.</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>Koss: Don't Buy The Hype On This Highly Shorted Meme Stock</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\">\nKoss: Don't Buy The Hype On This Highly Shorted Meme Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 12:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4413768-koss-dont-buy-hype-shorted-meme-stock><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nKoss is a small electronics company that got caught up in the meme stock runup, but has little hope for massive growth in the future.\nMeme stocks trade on hype instead of fundamentals, so be ...</p>\n\n<a href=\"https://seekingalpha.com/article/4413768-koss-dont-buy-hype-shorted-meme-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"KOSS":"高斯电子"},"source_url":"https://seekingalpha.com/article/4413768-koss-dont-buy-hype-shorted-meme-stock","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1108838813","content_text":"Summary\n\nKoss is a small electronics company that got caught up in the meme stock runup, but has little hope for massive growth in the future.\nMeme stocks trade on hype instead of fundamentals, so be careful not to lose your shirt.\nKoss offers massive upside during the next short squeeze, but should be avoided as a long-term investment.\n\nKoss(NASDAQ:KOSS)is a headphone and electronic accessories company that has gotten a lot of attention recently due to the rise of \"Meme Stocks\" like GameStop (GME) and AMC (AMC).\nRetail traders began focusing on stocks with low float and high short interest since the beginning of the global pandemic in 2020. Stocks like Koss are great swing trading plays, but make for terrible long-term investments. If you're looking for an upside with high risk, then turn your attention to the smallest meme stock based on market cap.\nKoss's Business Model\nKoss makes headphones and I remember owning a cheap pair of Koss stereo headphones back when I was a kid growing up in Washington DC.\nSource: Koss.com\nSince then, big tech companies like Apple (AAPL) entered the headphone market and stole market share from longstanding headphone makers.\nKoss reported just under $5 million in total revenue for the quarter ending December 31, 2020. Net income per share equaled 7 cents (up from 3 cents during the same period in 2019). Many Americans were forced to work from home during the global pandemic, which helped lift electronic accessory sales nationwide. TTM sales are around $18 million, and the company has a cash position of $4.39 million. With a market cap of around $192 million, Koss stock trades at a reasonable P/S ratio but lacks significant revenue growth in the future.\nKoss is a small, yet profitable company but doesn't possess big upside like other big tech companies. However, that didn't stop retail traders from targeting the 63-year-old company as a prime target for an epic short squeeze.\nThe Koss Short Squeeze Explained\nIn late January, Reddit users of the subreddit \"WallStreetBets\" decided to team up and earn billions of dollars in profits by targeting low float stocks with high short positions. The goal was to force hedge funds with short positions to buy back the stock at a higher price to create a short squeeze. Short sellers borrow shares of a stock, then sell them off with hopes of buying back the stock at a cheaper price to earn a profit.\nHowever, WallStreetBets realized that Wall Street short sellers made a critical error. Koss had a high short interest of over 38% percent with a low float. With only a float of 3 million, any massive increase in buying power would send the stock soaring and force shorts to cover their losing positions.\nKoss stock did just that.\nKOSS jumped from $3.34 to $10 between January 22nd and 26th, then skyrocketed to an all-time high of $127.Robinhood famously stepped in and deleted the buy button to put an end to the epic short squeeze.\nData by YCharts\nNow that the dust has settled, Koss has a much lower short interest of 14% and the WSB crowd has shifted its sights on other short squeeze targets.\nHow to Profit from Koss During the Next Short Squeeze\nI cannot recommend Koss as a good, long-term investment because I mainly write about hyper growth stocks that can return at least 30% to 40% annually. Koss is an old dinosaur of a company with little hope for future growth.\nBut there is a way to profit from the next Koss short squeeze if it happens.\nThe best way to play Koss stock is to monitor theRSI(relative strength index) and volume. RSI is my favorite technical analysis indicator to determine whether a stock is overbought or oversold. We want to monitor KOSS stock when it gets \"boring\" and the RSI dips to around 50 or below.\nData by YCharts\nUnfortunately, novice traders make the classic mistake of buying what's popular and exposing themselves to the potential for massive losses. People who bought KOSS at $100 or more believed the stock could go to $200, but in reality, they lost a ton of money and probably stopped trading stocks altogether.\nKoss had an RSI of 90 at its peak, signaling it was time to sell and get out of the stock. Monitor the RSI will help you avoid \"buying at the top\" and reduce your exposure to massive trading losses.\nVolume is another key indicator that will give us information on when to enter the trade. Wait for volume spikes before buying the stock because you don't want to hold KOSS shares in anticipation of a bullish move. Set up an alert to notify you when Koss stock volume is up or just monitor Yahoo! Finance Trending Tickers to find a good entry point.\nMy strategy is to buy Koss stock when the RSI is near or below 50, then sell it once it reaches 65 or more. It's a sound strategy that will protect you from losses because you must limit downside risk.\nRisk Factors: Inflated Stock Prices Due to Massive Hype\nAs I mentioned above, too many novice traders \"buy the hype\" and expose themselves to huge losses.\nMeme stocks trade on hype instead of fundamentals. If you really think that Koss stock will keep soaring when the underlying business earns $18 million annually, then you will lose your shirt. Never buy the hype or chase a bullish runup. Wait for a good entry position at a much cheaper price when the next bullish run happens.\nThere are literally thousands of stocks to choose from every day. No reason to chase gains or FOMO.\nConclusion\nKoss is a small electronics company that hasn't shown signs of hypergrowth potential. The best strategy for Koss shares is to buy low during higher volume, then dump the stock once the RSI gets too high.\nI don't recommend Koss as a long-term investment and prefer Apple stock over the long term. If you must chase massive gains trading meme stocks like Koss, then protect yourself at all costs and don't buy the hype.","news_type":1},"isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341908344,"gmtCreate":1617767215788,"gmtModify":1704702858976,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please!","listText":"Like and comment please!","text":"Like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/341908344","repostId":"1120109562","repostType":4,"repost":{"id":"1120109562","kind":"news","pubTimestamp":1617766782,"share":"https://ttm.financial/m/news/1120109562?lang=&edition=fundamental","pubTime":"2021-04-07 11:39","market":"us","language":"en","title":"Who’s Afraid of the Big Bad Economic Boom?","url":"https://stock-news.laohu8.com/highlight/detail?id=1120109562","media":"Bloomberg","summary":"There’s too much whining about the super-strong recovery. You don’t get a spurt like this without a ","content":"<blockquote><b>There’s too much whining about the super-strong recovery. You don’t get a spurt like this without a few bruises.</b></blockquote><p>The global recovery needs to call its agent.</p><p>An economic rebound as brawny as the one projected this year ought to be a cause for celebration. It’s a relief that gross domestic product will enjoy its biggest spurt in years — perhaps even decades —&nbsp;following the biggest drop since the 1930s. Instead, the almost daily upgrades to growth forecasts are met with handwringing about how everyone is too&nbsp;dependent on the U.S. and China — and the prospects for a significant jump in inflation. Naysayers sometimes sound like they’d prefer a subdued expansion.</p><p>The revival is likely to be very impressive. On Tuesday, the International Monetary Fund raised its forecast for the world expansion to 6%. That followed amark-up last month&nbsp;by the Organization for Economic Cooperation and Development. Bloomberg Economicssees a stunning&nbsp;6.9% advance, the most in 60 years. Many of these bullish scenarios are based on a burst in the U.S. that recalls the halcyon days of the mid-Reagan era and Chinese numbers that resemble the boom in the decade following Beijing’s entry to the World Trade Organization.</p><p>Is it a problem that the world’s two major economic powers are hitting it out of the park? You might think so, given some of the focus on the recovery’s imperfections. Yes, ideally you wantsomething more broadly balanced, with more of the developing world and the euro zone sharing the spoils. But a big bounce from 2020’s disastrous contraction&nbsp;isn’t going to happen without the U.S. and China doing very well.</p><p>I am struggling to recall a meaningful spurt of global growth that<i>&nbsp;hasn’t</i>been lopsided, to at least some degree. In the years immediately after the global financial crisis and, before that, the tech bust of the early 2000s, it was China getting the accolades. Double-digit growth there was the norm. Going back to the Reagan superlatives, the U.S. was the key driver of the recovery from the early 1980s global downturn. Big parts of the world didn't even participate in capitalism at that time. The Cold War with the Soviet bloc was grinding on, and Deng Xiaoping had just started&nbsp;to open China up.</p><p>The other maincomplaint is that the U.S. is exporting reflation. Bond yields around the world have climbed the past few months on expectations that prices will pick up. Of course, they will. A boom of the magnitude projected is, by its nature, reflationary. Many of the pessimists also tend to forget that, before the pandemic,&nbsp;one of the biggest gripes was that inflation was too low.</p><p>What’s probably happening now is that, rather than an inflation problem, we are seeing some of the deflationary forces dissipating. In&nbsp;South Korea, for example,inflation returned to its pre-pandemic levelin March as oil prices remained stronger and consumer demand started to recover after a&nbsp;year-long&nbsp;slump. But that pre-Covid-19&nbsp;level was a meagre 1.5%, compared with a year earlier, well below the Bank of Korea’s target of 2%. In many parts of the world, certainly in Asia, we are&nbsp;quite a ways from the type of ‘bad’ inflation that was the scourge of the world in the 1970s and early 1980s.</p><p>An undue focus on the blemishes of this boom might reflect a deeper paradigm shift, one&nbsp;that people are having trouble processing. As my colleague John Authersnoted, this is potentially a boom unlike any that investors have seen in their professional lives. I’ll go further and say the geographic nature of this boom —&nbsp;the best American performance since victory in the Cold War —&nbsp;is making life uncomfortable. It’s been almost four decades since theU.S. has driven the global economy like this.</p><p>For much of the intervening period, we have been inundated with the message that China’s rise is the biggest thing since sliced cheese.&nbsp; A sibling narrative has been that emerging markets, buoyed by high growth rates, young populations and an ascendant middle class,&nbsp;are the future. The U.S., however, is looking more vigorous than many emerging markets right now. (And by the way, the demographic dividend isn’t paying out so much in Asia these days, as I wrotehereandhere.)</p><p>This is all a lot to digest&nbsp;for a generation reared on the idea that China had some magic formula and the West —&nbsp;with Washington as its proxy —&nbsp;should be content with just a few percentage of points of growth a year. There has been a drumbeat of prognostications that China willeclipse America as the world’s biggest economyas soon asthis decade. Maybe so. But the Fed’srescue of the global monetary systemand now the turbo-charged U.S. expansion this year tell us that Uncle Sam isn’t quite so down and out.I suspect we may end up needing a new framework for looking at the world. For now, let’s just start by enjoying 2021.</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>Who’s Afraid of the Big Bad Economic Boom?</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\">\nWho’s Afraid of the Big Bad Economic Boom?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-07 11:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/opinion/articles/2021-04-06/the-u-s-leads-the-world-economic-recovery-but-there-s-no-need-to-be-nervous><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>There’s too much whining about the super-strong recovery. You don’t get a spurt like this without a few bruises.The global recovery needs to call its agent.An economic rebound as brawny as the one ...</p>\n\n<a href=\"https://www.bloomberg.com/opinion/articles/2021-04-06/the-u-s-leads-the-world-economic-recovery-but-there-s-no-need-to-be-nervous\">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","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/opinion/articles/2021-04-06/the-u-s-leads-the-world-economic-recovery-but-there-s-no-need-to-be-nervous","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120109562","content_text":"There’s too much whining about the super-strong recovery. You don’t get a spurt like this without a few bruises.The global recovery needs to call its agent.An economic rebound as brawny as the one projected this year ought to be a cause for celebration. It’s a relief that gross domestic product will enjoy its biggest spurt in years — perhaps even decades — following the biggest drop since the 1930s. Instead, the almost daily upgrades to growth forecasts are met with handwringing about how everyone is too dependent on the U.S. and China — and the prospects for a significant jump in inflation. Naysayers sometimes sound like they’d prefer a subdued expansion.The revival is likely to be very impressive. On Tuesday, the International Monetary Fund raised its forecast for the world expansion to 6%. That followed amark-up last month by the Organization for Economic Cooperation and Development. Bloomberg Economicssees a stunning 6.9% advance, the most in 60 years. Many of these bullish scenarios are based on a burst in the U.S. that recalls the halcyon days of the mid-Reagan era and Chinese numbers that resemble the boom in the decade following Beijing’s entry to the World Trade Organization.Is it a problem that the world’s two major economic powers are hitting it out of the park? You might think so, given some of the focus on the recovery’s imperfections. Yes, ideally you wantsomething more broadly balanced, with more of the developing world and the euro zone sharing the spoils. But a big bounce from 2020’s disastrous contraction isn’t going to happen without the U.S. and China doing very well.I am struggling to recall a meaningful spurt of global growth that hasn’tbeen lopsided, to at least some degree. In the years immediately after the global financial crisis and, before that, the tech bust of the early 2000s, it was China getting the accolades. Double-digit growth there was the norm. Going back to the Reagan superlatives, the U.S. was the key driver of the recovery from the early 1980s global downturn. Big parts of the world didn't even participate in capitalism at that time. The Cold War with the Soviet bloc was grinding on, and Deng Xiaoping had just started to open China up.The other maincomplaint is that the U.S. is exporting reflation. Bond yields around the world have climbed the past few months on expectations that prices will pick up. Of course, they will. A boom of the magnitude projected is, by its nature, reflationary. Many of the pessimists also tend to forget that, before the pandemic, one of the biggest gripes was that inflation was too low.What’s probably happening now is that, rather than an inflation problem, we are seeing some of the deflationary forces dissipating. In South Korea, for example,inflation returned to its pre-pandemic levelin March as oil prices remained stronger and consumer demand started to recover after a year-long slump. But that pre-Covid-19 level was a meagre 1.5%, compared with a year earlier, well below the Bank of Korea’s target of 2%. In many parts of the world, certainly in Asia, we are quite a ways from the type of ‘bad’ inflation that was the scourge of the world in the 1970s and early 1980s.An undue focus on the blemishes of this boom might reflect a deeper paradigm shift, one that people are having trouble processing. As my colleague John Authersnoted, this is potentially a boom unlike any that investors have seen in their professional lives. I’ll go further and say the geographic nature of this boom — the best American performance since victory in the Cold War — is making life uncomfortable. It’s been almost four decades since theU.S. has driven the global economy like this.For much of the intervening period, we have been inundated with the message that China’s rise is the biggest thing since sliced cheese.  A sibling narrative has been that emerging markets, buoyed by high growth rates, young populations and an ascendant middle class, are the future. The U.S., however, is looking more vigorous than many emerging markets right now. (And by the way, the demographic dividend isn’t paying out so much in Asia these days, as I wrotehereandhere.)This is all a lot to digest for a generation reared on the idea that China had some magic formula and the West — with Washington as its proxy — should be content with just a few percentage of points of growth a year. There has been a drumbeat of prognostications that China willeclipse America as the world’s biggest economyas soon asthis decade. Maybe so. But the Fed’srescue of the global monetary systemand now the turbo-charged U.S. expansion this year tell us that Uncle Sam isn’t quite so down and out.I suspect we may end up needing a new framework for looking at the world. For now, let’s just start by enjoying 2021.","news_type":1},"isVote":1,"tweetType":1,"viewCount":313,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575284570991838","authorId":"3575284570991838","name":"TJKE","avatar":"https://static.tigerbbs.com/95e8ee10293b34fe4285a9c7270a10b6","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3575284570991838","idStr":"3575284570991838"},"content":"Please reply to this comment","text":"Please reply to this comment","html":"Please reply to this comment"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324971143,"gmtCreate":1615957284082,"gmtModify":1704788927286,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/324971143","repostId":"2120972106","repostType":4,"repost":{"id":"2120972106","kind":"news","pubTimestamp":1615953662,"share":"https://ttm.financial/m/news/2120972106?lang=&edition=fundamental","pubTime":"2021-03-17 12:01","market":"us","language":"en","title":"Zoom Performed Poorly, but Long-Term Future Remains Bright Says Artisan Partners","url":"https://stock-news.laohu8.com/highlight/detail?id=2120972106","media":"Insider Monkey","summary":"Artisan Partners Limited Partnership, a high value-added investment management firm, published its ‘","content":"<p>Artisan Partners Limited Partnership, a high value-added investment management firm, published its ‘Artisan Global Discovery Fund’ fourth quarter 2020 investor letter. A return of 16.95% was recorded by its Investor Class: APFDX, 17% by its Advisor Class: APDDX, and 17.05% by its Institutional Class: APHDX, in the fourth quarter of 2020, outperforming its MSCI All Country World benchmark that delivered a 14.68% return in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.</p>\n<p>Artisan Global Discovery Fund, in their Q4 2020 investor letter, mentioned <a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video Communications, Inc. (NASDAQ: ZM) and emphasized their views on the company. Zoom Video Communications, Inc. is a California-based communications technology company that currently has a $100.3 billion market capitalization. Since the beginning of the year, ZM delivered a 1.99% return, impressively extending its 12-month gains to 209.65%. As of March 15, 2021, the stock closed at $350 per share.</p>\n<p>Here is what Artisan Global Discovery Fund has to say about Zoom Video Communications, Inc. in their Q4 2020 investor letter:</p>\n<blockquote>\n \"Among our bottom contributors in Q4 was Zoom Video Communications. Shares of Zoom Video Communications were pressured amid the strong vaccine data released during the quarter. Furthermore, the company’s Q3 results, though incredibly strong, showed signs of deceleration from prior quarters’ torrid pace. While there will be a reduced need for some videoconferencing use cases on the other side of the pandemic, we believe there is a strong case to be made that the pandemic has prompted a permanent inflection in videoconferencing’s importance—given sustainably higher remote work arrangements, more online learning options and less business travel. Furthermore, the company’s dramatically expanded user base (up 485% YOY in Q3) positions it well to cross sell additional services, Zoom Phone in particular. The long-term future remains bright, but we acknowledge the near-term headwinds and have trimmed our position to a modest size.\"\n</blockquote>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3df6f4f5869e2d45f06c2e8c104114c5\" tg-width=\"750\" tg-height=\"500\"><span>Roman Samborskyi/Shutterstock.com</span></p>\n<p>Our calculations show that Zoom Video Communications, Inc. (NASDAQ: ZM)&nbsp;does not belong in our list of the&nbsp;30 Most <a href=\"https://laohu8.com/S/BPOPM\">Popular</a> Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Zoom Video Communications, Inc. was in 59 hedge fund portfolios, compared to 56 funds in the third quarter. ZM delivered a -13.52% return in the past 3 months.</p>","source":"lsy1606273129822","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>Zoom Performed Poorly, but Long-Term Future Remains Bright Says Artisan Partners</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\">\nZoom Performed Poorly, but Long-Term Future Remains Bright Says Artisan Partners\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-17 12:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.insidermonkey.com/blog/zoom-zm-performed-poorly-but-long-term-future-remains-bright-says-artisan-partners-924876/><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Artisan Partners Limited Partnership, a high value-added investment management firm, published its ‘Artisan Global Discovery Fund’ fourth quarter 2020 investor letter. A return of 16.95% was recorded ...</p>\n\n<a href=\"https://www.insidermonkey.com/blog/zoom-zm-performed-poorly-but-long-term-future-remains-bright-says-artisan-partners-924876/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"source_url":"https://www.insidermonkey.com/blog/zoom-zm-performed-poorly-but-long-term-future-remains-bright-says-artisan-partners-924876/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2120972106","content_text":"Artisan Partners Limited Partnership, a high value-added investment management firm, published its ‘Artisan Global Discovery Fund’ fourth quarter 2020 investor letter. A return of 16.95% was recorded by its Investor Class: APFDX, 17% by its Advisor Class: APDDX, and 17.05% by its Institutional Class: APHDX, in the fourth quarter of 2020, outperforming its MSCI All Country World benchmark that delivered a 14.68% return in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.\nArtisan Global Discovery Fund, in their Q4 2020 investor letter, mentioned Zoom Video Communications, Inc. (NASDAQ: ZM) and emphasized their views on the company. Zoom Video Communications, Inc. is a California-based communications technology company that currently has a $100.3 billion market capitalization. Since the beginning of the year, ZM delivered a 1.99% return, impressively extending its 12-month gains to 209.65%. As of March 15, 2021, the stock closed at $350 per share.\nHere is what Artisan Global Discovery Fund has to say about Zoom Video Communications, Inc. in their Q4 2020 investor letter:\n\n \"Among our bottom contributors in Q4 was Zoom Video Communications. Shares of Zoom Video Communications were pressured amid the strong vaccine data released during the quarter. Furthermore, the company’s Q3 results, though incredibly strong, showed signs of deceleration from prior quarters’ torrid pace. While there will be a reduced need for some videoconferencing use cases on the other side of the pandemic, we believe there is a strong case to be made that the pandemic has prompted a permanent inflection in videoconferencing’s importance—given sustainably higher remote work arrangements, more online learning options and less business travel. Furthermore, the company’s dramatically expanded user base (up 485% YOY in Q3) positions it well to cross sell additional services, Zoom Phone in particular. The long-term future remains bright, but we acknowledge the near-term headwinds and have trimmed our position to a modest size.\"\n\nRoman Samborskyi/Shutterstock.com\nOur calculations show that Zoom Video Communications, Inc. (NASDAQ: ZM) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Zoom Video Communications, Inc. was in 59 hedge fund portfolios, compared to 56 funds in the third quarter. ZM delivered a -13.52% return in the past 3 months.","news_type":1},"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342241462,"gmtCreate":1618225697056,"gmtModify":1704707740140,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/342241462","repostId":"1137529737","repostType":4,"isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344933715,"gmtCreate":1618365468137,"gmtModify":1704709705817,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/344933715","repostId":"2127454000","repostType":4,"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348404807,"gmtCreate":1617948377109,"gmtModify":1704705185827,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please&nbsp;","listText":"Comment and like please&nbsp;","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/348404807","repostId":"1147517160","repostType":4,"repost":{"id":"1147517160","kind":"news","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":{".DJI":"道琼斯","SPY":"标普500ETF",".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":342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328531127,"gmtCreate":1615538950669,"gmtModify":1704784264450,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/328531127","repostId":"1199156489","repostType":4,"repost":{"id":"1199156489","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615452861,"share":"https://ttm.financial/m/news/1199156489?lang=&edition=fundamental","pubTime":"2021-03-11 16:54","market":"us","language":"en","title":"US Daylight Saving Time","url":"https://stock-news.laohu8.com/highlight/detail?id=1199156489","media":"Tiger Newspress","summary":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving tim","content":"<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><b>What is daylight saving time?</b></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</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>US Daylight Saving 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\">\nUS Daylight Saving Time\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\">2021-03-11 16:54</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>From&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;March&nbsp;14(this&nbsp;Sunday),the&nbsp;North America&nbsp;region&nbsp;entered&nbsp;daylight saving&nbsp;time,until&nbsp;02:00&nbsp;U.S.&nbsp;East&nbsp;time&nbsp;ends&nbsp;on&nbsp;November&nbsp;7,2021.</p><p>So,starting&nbsp;on&nbsp;Monday,March&nbsp;14,the&nbsp;U.S.&nbsp;market&nbsp;will&nbsp;open&nbsp;and&nbsp;close&nbsp;one&nbsp;hour&nbsp;ahead&nbsp;of&nbsp;schedule&nbsp;during&nbsp;north&nbsp;american&nbsp;daylight saving time,i.e.,U.S.&nbsp;trading&nbsp;time&nbsp;will&nbsp;be&nbsp;changed&nbsp;to&nbsp;21:30&nbsp;beijing&nbsp;time&nbsp;to&nbsp;04:00&nbsp;a.m.the&nbsp;next&nbsp;day,pre-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;16:00&nbsp;to&nbsp;21:30,after-trade&nbsp;time&nbsp;will&nbsp;be&nbsp;04:00&nbsp;to&nbsp;8:00.</p><p><b>What is daylight saving time?</b></p><p>The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.</p><p>Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199156489","content_text":"From 02:00 U.S. East time March 14(this Sunday),the North America region entered daylight saving time,until 02:00 U.S. East time ends on November 7,2021.So,starting on Monday,March 14,the U.S. market will open and close one hour ahead of schedule during north american daylight saving time,i.e.,U.S. trading time will be changed to 21:30 beijing time to 04:00 a.m.the next day,pre-trade time will be 16:00 to 21:30,after-trade time will be 04:00 to 8:00.What is daylight saving time?The DST is the practice of moving clocks forward by one hour during summer months so that daylight lasts longer into evening. Most of North America and Europe follows the custom, while the majority of countries elsewhere do not.Hawaii, American Samoa, Guam, Puerto Rico, the US Virgin Islands and most of Arizona don’t observe daylight saving time. It’s incumbent to stick with the status quo.","news_type":1},"isVote":1,"tweetType":1,"viewCount":41,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320137004,"gmtCreate":1615038786208,"gmtModify":1704778331627,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Please help to comment. Thanks","listText":"Please help to comment. Thanks","text":"Please help to comment. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/320137004","repostId":"1169596583","repostType":4,"repost":{"id":"1169596583","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614958557,"share":"https://ttm.financial/m/news/1169596583?lang=&edition=fundamental","pubTime":"2021-03-05 23:35","market":"us","language":"en","title":"Palantir plunged more than 13%","url":"https://stock-news.laohu8.com/highlight/detail?id=1169596583","media":"老虎资讯综合","summary":"(March 5)&nbsp;Palantir plunged more than 13%.","content":"<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></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>Palantir plunged more than 13%</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\">\nPalantir plunged more than 13%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-03-05 23:35</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169596583","content_text":"(March 5) Palantir plunged more than 13%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":83,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370020705,"gmtCreate":1618537318407,"gmtModify":1704712377007,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/370020705","repostId":"1119515404","repostType":4,"repost":{"id":"1119515404","kind":"news","pubTimestamp":1618536678,"share":"https://ttm.financial/m/news/1119515404?lang=&edition=fundamental","pubTime":"2021-04-16 09:31","market":"fut","language":"en","title":"Yields are sliding but U.S. economic indicators are improving. Here’s what’s driving the bond market ‘datapathy.’","url":"https://stock-news.laohu8.com/highlight/detail?id=1119515404","media":"MarketWatch","summary":"Does the U.S. bond market have a case of “datapathy”?\nThat’s the question on the lips of bond trader","content":"<p>Does the U.S. bond market have a case of “datapathy”?</p>\n<p>That’s the question on the lips of bond traders who have seen Treasury yields slide despite a parade of impressive economic data since last week, highlighting the reflationary forces that in the first quarter struck fear in the hearts of bond bulls.</p>\n<p>Yet nearly a million jobs added to the labor market in March and a multidecade high in a U.S. manufacturing activity index wasn’t enough to reignite the bond-market selloff this month. And those questions came to the fore again after U.S.&nbsp;retail sales rose nearly 10% in March,the second largest increase on record, aided by the federal pandemic relief checks sent to Americans.</p>\n<p>Instead of rising in response to evidence of the improving economic trajectory, the 10-year Treasury yield&nbsp;fell around 8 basis points to 1.55% on Thursday, pushing below the 1.60% level that had marked the floor for the benchmark maturity since mid-March.</p>\n<p>The drop in 10-year Treasury yields is “very surprising,” according to Jeff Schulze, an investment strategist with ClearBridge Investments. “It’s not the reaction that I would have expected given the huge beat in retail sales” and the drop in jobless claims, he said in an interview.</p>\n<p>Initial claims for unemployment benefits&nbsp;sank by 193,000 in early April to a fresh pandemic low.</p>\n<p>Schulze chalked it up to a “‘sell the rumor, buy the news” reaction wherein investors had been anticipating a strong retail-sales number and had already sold or shorted bonds and were now buying them back again because they believe they’ve seen “peak economic momentum.”</p>\n<p>Analysts were also ready to discount the March retail sales data in part because the Federal Reserve’s policy trajectory was likely to be driven by how fast the economy was expected to hit full employment, and not the retail numbers that were artificially boosted by the trillions of government stimulus funds coursing through businesses and households.</p>\n<p>“Discounting the data makes a ton of sense,” said Tom Graff, head of fixed income at Brown Advisory. “That’s why rates are rallying. It’s just noninformation.”</p>\n<p>Others suggested the drivers of the bond-market rally had little to do with investors’ expectations over economic growth, but rather behind-the-scenes moves among the likes of fast-moving hedge funds and more deliberate Japanese pension funds.</p>\n<p>Analysts had noted Japanese investors were attracted to the current level of yields on U.S. government bonds, even after taking into account the cost of hedging for currency fluctuations.</p>\n<p>Indeed, Japanese buyers snapped up $15.6 billion in overseas notes and bonds during the week of April 9, up from the previous week’s $3.4 billion.</p>\n<p>“There are some large pockets of money in Asia that are moving in a big way,” said Graff.</p>\n<p>Meanwhile, Nomura strategists noted shorter-term traders in bonds such as commodity trading advisors and hedge funds were moving out of their short positions on Treasurys.</p>\n<p>When investors cover their short positions and buy bonds, they can end up fueling the rally in government bonds beyond what economic fundamentals might dictate.</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>Yields are sliding but U.S. economic indicators are improving. Here’s what’s driving the bond market ‘datapathy.’</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\">\nYields are sliding but U.S. economic indicators are improving. Here’s what’s driving the bond market ‘datapathy.’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 09:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/yields-are-sliding-but-u-s-economic-indicators-are-improving-heres-whats-driving-the-bond-market-datapathy-11618513116?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Does the U.S. bond market have a case of “datapathy”?\nThat’s the question on the lips of bond traders who have seen Treasury yields slide despite a parade of impressive economic data since last week, ...</p>\n\n<a href=\"https://www.marketwatch.com/story/yields-are-sliding-but-u-s-economic-indicators-are-improving-heres-whats-driving-the-bond-market-datapathy-11618513116?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":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/yields-are-sliding-but-u-s-economic-indicators-are-improving-heres-whats-driving-the-bond-market-datapathy-11618513116?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119515404","content_text":"Does the U.S. bond market have a case of “datapathy”?\nThat’s the question on the lips of bond traders who have seen Treasury yields slide despite a parade of impressive economic data since last week, highlighting the reflationary forces that in the first quarter struck fear in the hearts of bond bulls.\nYet nearly a million jobs added to the labor market in March and a multidecade high in a U.S. manufacturing activity index wasn’t enough to reignite the bond-market selloff this month. And those questions came to the fore again after U.S. retail sales rose nearly 10% in March,the second largest increase on record, aided by the federal pandemic relief checks sent to Americans.\nInstead of rising in response to evidence of the improving economic trajectory, the 10-year Treasury yield fell around 8 basis points to 1.55% on Thursday, pushing below the 1.60% level that had marked the floor for the benchmark maturity since mid-March.\nThe drop in 10-year Treasury yields is “very surprising,” according to Jeff Schulze, an investment strategist with ClearBridge Investments. “It’s not the reaction that I would have expected given the huge beat in retail sales” and the drop in jobless claims, he said in an interview.\nInitial claims for unemployment benefits sank by 193,000 in early April to a fresh pandemic low.\nSchulze chalked it up to a “‘sell the rumor, buy the news” reaction wherein investors had been anticipating a strong retail-sales number and had already sold or shorted bonds and were now buying them back again because they believe they’ve seen “peak economic momentum.”\nAnalysts were also ready to discount the March retail sales data in part because the Federal Reserve’s policy trajectory was likely to be driven by how fast the economy was expected to hit full employment, and not the retail numbers that were artificially boosted by the trillions of government stimulus funds coursing through businesses and households.\n“Discounting the data makes a ton of sense,” said Tom Graff, head of fixed income at Brown Advisory. “That’s why rates are rallying. It’s just noninformation.”\nOthers suggested the drivers of the bond-market rally had little to do with investors’ expectations over economic growth, but rather behind-the-scenes moves among the likes of fast-moving hedge funds and more deliberate Japanese pension funds.\nAnalysts had noted Japanese investors were attracted to the current level of yields on U.S. government bonds, even after taking into account the cost of hedging for currency fluctuations.\nIndeed, Japanese buyers snapped up $15.6 billion in overseas notes and bonds during the week of April 9, up from the previous week’s $3.4 billion.\n“There are some large pockets of money in Asia that are moving in a big way,” said Graff.\nMeanwhile, Nomura strategists noted shorter-term traders in bonds such as commodity trading advisors and hedge funds were moving out of their short positions on Treasurys.\nWhen investors cover their short positions and buy bonds, they can end up fueling the rally in government bonds beyond what economic fundamentals might dictate.","news_type":1},"isVote":1,"tweetType":1,"viewCount":450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349875865,"gmtCreate":1617595411457,"gmtModify":1704700669436,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/349875865","repostId":"2124875875","repostType":4,"repost":{"id":"2124875875","kind":"news","pubTimestamp":1617366960,"share":"https://ttm.financial/m/news/2124875875?lang=&edition=fundamental","pubTime":"2021-04-02 20:36","market":"us","language":"en","title":"Tesla Q1 2021 Vehicle Production & Deliveries","url":"https://stock-news.laohu8.com/highlight/detail?id=2124875875","media":"StreetInsider","summary":"PALO ALTO, Calif., April 02, 2021  -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.Forward-Looking Statements Statements herein regarding the timin","content":"<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.</p>\n<table>\n <tbody>\n  <tr>\n   <td></td>\n   <td><b>Production</b></td>\n   <td><b>Deliveries</b></td>\n   <td><b>Subject to operating lease accounting</b></td>\n  </tr>\n  <tr>\n   <td>Model S/X</td>\n   <td>-</td>\n   <td>2,020</td>\n   <td>6%</td>\n  </tr>\n  <tr>\n   <td>Model 3/Y</td>\n   <td>180,338</td>\n   <td>182,780</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>180,338</b></td>\n   <td><b>184,800</b></td>\n   <td><b>7%</b></td>\n  </tr>\n </tbody>\n</table>\n<p>***************</p>\n<p>Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only <a href=\"https://laohu8.com/S/AONE\">one</a> measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.</p>\n<p><b>Forward-Looking Statements</b>&nbsp;Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.</p>\n<p><img src=\"https://static.tigerbbs.com/db04c7b378cb2db912c3ba8a5a774ee3\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/c2196de8ba412c60c22ab491af7b1409\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Q1 2021 Vehicle Production & Deliveries</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Q1 2021 Vehicle Production & Deliveries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18215929><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18215929\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18215929","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124875875","content_text":"PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.\n\n\n\n\nProduction\nDeliveries\nSubject to operating lease accounting\n\n\nModel S/X\n-\n2,020\n6%\n\n\nModel 3/Y\n180,338\n182,780\n7%\n\n\nTotal\n180,338\n184,800\n7%\n\n\n\n***************\nOur net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.\nForward-Looking Statements Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355210465,"gmtCreate":1617074635057,"gmtModify":1704801613281,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/355210465","repostId":"1144154025","repostType":4,"isVote":1,"tweetType":1,"viewCount":189,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358835685,"gmtCreate":1616679203347,"gmtModify":1704797315319,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/358835685","repostId":"1185338749","repostType":4,"repost":{"id":"1185338749","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616679071,"share":"https://ttm.financial/m/news/1185338749?lang=&edition=fundamental","pubTime":"2021-03-25 21:31","market":"us","language":"en","title":"S&P 500 falls for a third straight day amid more weakness in tech shares, Powell comments","url":"https://stock-news.laohu8.com/highlight/detail?id=1185338749","media":"Tiger Newspress","summary":"U.S. stocks fell on Thursday as the market continued to struggle in recent weeks, especially high-gr","content":"<p>U.S. stocks fell on Thursday as the market continued to struggle in recent weeks, especially high-growth technology names.</p><p>The Dow Jones Industrial Average slid 147 points, while the S&amp;P 500 dipped 0.5%, falling for a third straight day. The Nasdaq Composite declined 0.9%. Apple, Netflix, Amazon and Facebook all traded in negative territory. Tesla fell another 2%.</p><p><img src=\"https://static.tigerbbs.com/4a4bab88a261d8049848e6cd5cd858ff\" tg-width=\"1023\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p><p>\"The weakness in technology stocks is undeniable, but it likely won't be a straight line down for the sector and there will be zigs and zags along the way,\" said David Bahnsen, chief investment officer at The Bahnsen Group. \"Tech stock valuations are too high and are screaming for a correction.\"</p><p>Oil prices fell about 3% Thursday as demand concerns rekindled with fresh coronavirus pandemic lockdowns.</p><p>The rollover in futures came as Federal Reserve Chairman&nbsp;Jerome Powell hinted at one day starting to remove the stimulus&nbsp;that has boosted the market during the pandemic.</p><p>\"As we make substantial further progress toward our goals, we'll gradually roll back the amount of Treasurys and mortgage-backed securities we've bought,\" Powell told NPR's \"Morning Edition.\" \"We will very gradually over time and with great transparency, when the economy has all but fully recovered, we will be pulling back the support that we provided during emergency times.\"</p><p>Investors pored over a better-than-expected reading on weekly jobless claims. The Labor Department said first-time claims for unemployment insurance&nbsp;totaled 684,000 for the week ended March 20, lower than an estimate of 735,000 from economists surveyed by Dow Jones.</p><p>A steep sell-off in technology shares led the broader market lower on Wednesday. The S&amp;P 500 fell 0.6% in the previous session, while the tech-heavy Nasdaq dropped 2% to close at its session low. Apple,&nbsp;Facebook&nbsp;and&nbsp;Netflix&nbsp;all slid more than 2%, while&nbsp;Tesla&nbsp;fell 4.8%.</p><p>Pressure on equities came even as bond yields continued to decline from recent highs. The 10-year Treasury yield dipped 3 basis points to 1.61% Wednesday, falling for a third day after the rate hit a 14-month high last week.</p><p>The three major averages are all on track to post a losing week, with the S&amp;P 500 falling 0.6% through Wednesday’s close. The Nasdaq has fallen 1.9% this week.</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>S&P 500 falls for a third straight day amid more weakness in tech shares, Powell comments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 falls for a third straight day amid more weakness in tech shares, Powell comments\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\">2021-03-25 21:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. stocks fell on Thursday as the market continued to struggle in recent weeks, especially high-growth technology names.</p><p>The Dow Jones Industrial Average slid 147 points, while the S&amp;P 500 dipped 0.5%, falling for a third straight day. The Nasdaq Composite declined 0.9%. Apple, Netflix, Amazon and Facebook all traded in negative territory. Tesla fell another 2%.</p><p><img src=\"https://static.tigerbbs.com/4a4bab88a261d8049848e6cd5cd858ff\" tg-width=\"1023\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p><p>\"The weakness in technology stocks is undeniable, but it likely won't be a straight line down for the sector and there will be zigs and zags along the way,\" said David Bahnsen, chief investment officer at The Bahnsen Group. \"Tech stock valuations are too high and are screaming for a correction.\"</p><p>Oil prices fell about 3% Thursday as demand concerns rekindled with fresh coronavirus pandemic lockdowns.</p><p>The rollover in futures came as Federal Reserve Chairman&nbsp;Jerome Powell hinted at one day starting to remove the stimulus&nbsp;that has boosted the market during the pandemic.</p><p>\"As we make substantial further progress toward our goals, we'll gradually roll back the amount of Treasurys and mortgage-backed securities we've bought,\" Powell told NPR's \"Morning Edition.\" \"We will very gradually over time and with great transparency, when the economy has all but fully recovered, we will be pulling back the support that we provided during emergency times.\"</p><p>Investors pored over a better-than-expected reading on weekly jobless claims. The Labor Department said first-time claims for unemployment insurance&nbsp;totaled 684,000 for the week ended March 20, lower than an estimate of 735,000 from economists surveyed by Dow Jones.</p><p>A steep sell-off in technology shares led the broader market lower on Wednesday. The S&amp;P 500 fell 0.6% in the previous session, while the tech-heavy Nasdaq dropped 2% to close at its session low. Apple,&nbsp;Facebook&nbsp;and&nbsp;Netflix&nbsp;all slid more than 2%, while&nbsp;Tesla&nbsp;fell 4.8%.</p><p>Pressure on equities came even as bond yields continued to decline from recent highs. The 10-year Treasury yield dipped 3 basis points to 1.61% Wednesday, falling for a third day after the rate hit a 14-month high last week.</p><p>The three major averages are all on track to post a losing week, with the S&amp;P 500 falling 0.6% through Wednesday’s close. The Nasdaq has fallen 1.9% this week.</p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185338749","content_text":"U.S. stocks fell on Thursday as the market continued to struggle in recent weeks, especially high-growth technology names.The Dow Jones Industrial Average slid 147 points, while the S&P 500 dipped 0.5%, falling for a third straight day. The Nasdaq Composite declined 0.9%. Apple, Netflix, Amazon and Facebook all traded in negative territory. Tesla fell another 2%.\"The weakness in technology stocks is undeniable, but it likely won't be a straight line down for the sector and there will be zigs and zags along the way,\" said David Bahnsen, chief investment officer at The Bahnsen Group. \"Tech stock valuations are too high and are screaming for a correction.\"Oil prices fell about 3% Thursday as demand concerns rekindled with fresh coronavirus pandemic lockdowns.The rollover in futures came as Federal Reserve Chairman Jerome Powell hinted at one day starting to remove the stimulus that has boosted the market during the pandemic.\"As we make substantial further progress toward our goals, we'll gradually roll back the amount of Treasurys and mortgage-backed securities we've bought,\" Powell told NPR's \"Morning Edition.\" \"We will very gradually over time and with great transparency, when the economy has all but fully recovered, we will be pulling back the support that we provided during emergency times.\"Investors pored over a better-than-expected reading on weekly jobless claims. The Labor Department said first-time claims for unemployment insurance totaled 684,000 for the week ended March 20, lower than an estimate of 735,000 from economists surveyed by Dow Jones.A steep sell-off in technology shares led the broader market lower on Wednesday. The S&P 500 fell 0.6% in the previous session, while the tech-heavy Nasdaq dropped 2% to close at its session low. Apple, Facebook and Netflix all slid more than 2%, while Tesla fell 4.8%.Pressure on equities came even as bond yields continued to decline from recent highs. The 10-year Treasury yield dipped 3 basis points to 1.61% Wednesday, falling for a third day after the rate hit a 14-month high last week.The three major averages are all on track to post a losing week, with the S&P 500 falling 0.6% through Wednesday’s close. The Nasdaq has fallen 1.9% this week.","news_type":1},"isVote":1,"tweetType":1,"viewCount":185,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351339333,"gmtCreate":1616561230122,"gmtModify":1704795677083,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/351339333","repostId":"1164066925","repostType":4,"repost":{"id":"1164066925","kind":"news","pubTimestamp":1616557099,"share":"https://ttm.financial/m/news/1164066925?lang=&edition=fundamental","pubTime":"2021-03-24 11:38","market":"us","language":"en","title":"The Ultimate Warren Buffett Stock Is Near Buy Zone, But Should You Buy It?","url":"https://stock-news.laohu8.com/highlight/detail?id=1164066925","media":"investors","summary":"Warren Buffett is widely regarded as one of the greatest investors of all time. One way to share in his success is to invest in his firm,Berkshire Hathaway. Berkshire stock is near a buy zone, but is it a good buy for you now?Let's take a close look at the fundamental and technical performance of the ultimate Warren Buffett stock.Berkshire Hathaway is a conglomerate that owns some of America's most famous firms. It wholly owns the likes of Geico, Duracell, Dairy Queen, Fruit of the Loom and rail","content":"<p>Warren Buffett is widely regarded as one of the greatest investors of all time. One way to share in his success is to invest in his firm,<b>Berkshire Hathaway</b>(BRKB). Berkshire stock is near a buy zone, but is it a good buy for you now? Let's take a close look at the fundamental and technical performance of the ultimate Warren Buffett stock.</p>\n<p>Berkshire Hathaway is a conglomerate that owns some of America's most famous firms. It wholly owns the likes of Geico, Duracell, Dairy Queen, Fruit of the Loom and railroad operator BNSF.</p>\n<p>Berkshire Hathaway is perhaps more famous for serving as an investment vehicle for Warren Buffett and his top lieutenant, Charlie Munger. Following their value investing philosophy,the company owns huge stakesin&nbsp;<b>American Express</b>(AXP),&nbsp;<b>Coca-Cola</b>(KO) and other heavy hitters.</p>\n<p>But the definition of a Warren Buffett stock has evolved in recent years.&nbsp;Warren Buffett became a big investor in airlines such as<b>Delta Air Lines</b>(DAL). But he was left to rue his decision to go against his own long-held views about that industry's lack of profitability. The move blew up in his face as airline stocks were decimated due to the global coronavirus pandemic.</p>\n<p>Under investment managers Todd Combs and Ted Weschler, Berkshire Hathaway has been increasingly sinking money into tech. It's taken large positions in established giants like<b>Apple</b>(AAPL), as well as younger companies like Brazilian payments company<b>StoneCo</b>(STNE) and new software IPO<b>Snowflake</b>(SNOW). Berkshire also snapped up a stake in<b>Amazon.com</b>(AMZN).</p>\n<p>Warren Buffett Doubles Down On Berkshire Stock</p>\n<p>Warren Buffett spent matched the previous quarter's record spending on Berkshire Hathaway stock in the most recent quarter. Thefirm's results showed Berkshire repurchased about $9 billion in shares, steady with the record $9 billion in Q3.</p>\n<p>These repurchases were also a big jump from the&nbsp;$5.1 billion in Q2. At the time, that was more than double&nbsp;the prior quarterly record of $2.2 billion in Q4 2019&nbsp;and a shift from&nbsp;slower stock repurchases of $1.7 billion in Q1.</p>\n<p>Buffett said the company has repurchased more shares since the end of 2020, and \"is likely to further reduce its share count in the future.\"</p>\n<p>While he has historically been reluctant to splurge on stock repurchases, he explained his change of heart in his latest annual letter to shareholders.</p>\n<p>\"The math of repurchases grinds away slowly, but can be powerful over time,\" he wrote. \"The process offers a simple way for investors to own an ever-expanding portion of exceptional businesses.\"</p>\n<p>Berkshire loosened rules for Buffett to buy back shares in 2018. With Berkshire steadfastly cautious on M&amp;A in recent years, investors have been clamoring for more repurchases.</p>\n<p>Berkshire Hathaway Tweaks Portfolio</p>\n<p>Warren Buffett took a huge stake in<b>Verizon</b>(VZ) stock while dumping JPMorgan (JPM) stock entirely, according to thefirm's latest regulatory filing.</p>\n<p>Its new Verizon stake is massive, with Berkshire paying $8.62 billion for 147 million shares. It now accounts for 3% of the portfolio, making it the No. 6 stock by number of shares held.</p>\n<p>Buffett also opened new stakes in<b>Chevron</b>(CVX),<b>Marsh &amp; McLennan</b>(MMC) and<b>EW Scripps</b>(SSP) in Q4.</p>\n<p>Berkshire dumped entirely<b>Pfizer</b>(PFE),<b>JPMorgan Chase</b>(JPM),<b>Barrick Gold</b>(GOLD),<b>M&amp;T Bank</b>(MTB) and<b>PNC Financial</b>(PNC).</p>\n<p>The conglomerate grew stakes by 117% in<b>T-Mobile</b>(TMUS), 34% in<b>Kroger</b>(KR), 28% in<b>Merck</b>(MRK), 20% in<b>AbbVie</b>(ABBV), 11% in<b>Bristol-Myers Squibb</b>(BMY), and 1% in<b>RH</b>(RH).</p>\n<p>Buffett cut Berkshire's stake in Apple stock by 6%. It remains the No. 1 stock in his portfolio by market value and No. 2 stock by number of shares held, at 10.6% of the portfolio. He kept an Amazon stake steady.</p>\n<p>Warren Buffett Funds Media Deal</p>\n<p>Berkshire Hathaway is a key backer in a deal disclosed Sept. 24 that will see TV station owner<b>E.W. Scripps</b>(SSP) purchase privately held cable network ION Media for $2.65 billion. The latter firm's flagship, ION Television, is a top 5-ranked U.S. general entertainment network.</p>\n<p>Warren Buffett's firm is snapping up $600 million of Scripps preferred shares to help fund the deal. Scripps stock surged on on the news.</p>\n<p>Berkshire will also receive a warrant that allows it to snap up up to 23.1 million more shares at a price of $13. This adds up to an additional investment of $300 million. Scripps' common shares, however, currently trade below 11 each.</p>\n<p>Berkshire Hathaway Coronavirus Exposure</p>\n<p>As well as its status as an investment vehicle, Berkshire Hathaway is a conglomerate in its own right. It has interests in segments such as railroads, utilities and energy.</p>\n<p>Those sectors, along with other \"real economy\" companies that are Warren Buffett staples, have been hard hit by the coronavirus shutdowns and massive economic contraction. However they should benefit as the economy opens up again.</p>\n<p>Berkshire owns Geico, the No. 2 U.S. auto insurer after State Farm. Currently, states such as California are ordering insurers to give partial credits or refunds of premiums in lines such as private passenger automobile insurance.</p>\n<p>Railroads Not Immune</p>\n<p>Berkshire also owns BNSF Railway Company, the largest freight railroad network in North America. Rail operators such as<b>Union Pacific</b>(UNP) and<b>CSX</b>(CSX) have seen business suffer during the pandemic. But rail operators and other transportation companies are seeing business pick up again.</p>\n<p>Other wholly owned businesses such as Dairy Queen and multilevel marketing company Pampered Chef also struggled during coronavirus restrictions, though those are easing.</p>\n<p>Warren Buffett's Big Gas Bill</p>\n<p>Warren Buffett has been criticized for the size of his cash pile. But last July he madehis biggest acquisition in yearswith a $10 billion deal for<b>Dominion Energy</b>'s (D) assets.</p>\n<p>Berkshire seized the chance to secure Dominion's gas pipeline network after the utility giant and<b>Duke Energy</b>(DUK) unexpectedly aborted plans to build the Atlantic Coast Pipeline.</p>\n<p>Berkshire Hathaway Energy will buy about 7,700 miles of natural gas transmission pipelines and 900 billion cubic feet of gas storage. The all-cash deal includes $4 billion of equity and $5.7 billion of debt. It's set to close in the fourth quarter.</p>\n<p>\"We are very proud to be adding such a great portfolio of natural gas assets to our already strong energy business,\" Buffett said in a statement.</p>\n<p>Energy has been doing well so far in 2021. For example, the Vanguard Energy ETF (VDE) is up 39% since the start of the year.</p>\n<p>Berkshire Hathaway Stock Technical Analysis</p>\n<p>Amid the coronavirus-related stock market pullback, Berkshire Hathaway stock plummeted.&nbsp;MarketSmith analysis showsit has recovered from its woes, and recently broke out of anew flat base. While it managed to clear its buy zone, it is now sinking back towards it. Theideal buy pointwas 235.09.</p>\n<p>The flat base is one of the few reliable patterns that quality stocks form before they make substantial price advances. Bolstering the new base's case is the fact it is a first-stage pattern. IBD research showsearly stage bases have a higher chance of success.</p>\n<p>Before rallying back into buy zone, BRKB stock fell below its50-day moving average. The fact it is falling back towards this key technical benchmark is a concern.</p>\n<p>Therelative strength lineof Berkshire Hathaway stock had been showing some promise, but has been declining again of late. It remains shy of 12 month highs. The RS line, the blue line in the charts provided, tracks a stock's performance vs. the S&amp;P 500 index.</p>\n<p>BRKB stock is outperforming in 2021. So far this year it is up 7%, which beats the broader S&amp;P 500's return of 4.1%.</p>\n<p>ItsIBD Composite Ratingnow sits at 45 out of 99, which is still far from ideal. This puts it in the bottom 45% of stocks tracked.</p>\n<p>TheStock Checkup Toolshows earnings have growth rate by an average of 13% over the past three years, which is not ideal. Earnings ultimately drive stock performance.</p>\n<p>The CAN SLIM systemrecommends investors look for companies with average EPS growth of at least 25% over this time period.</p>\n<p>Wall Street is becoming more optimistic for Berkshire Hathaway earnings growth going forward. Analysts are projecting annual earnings will rise 18% 2021, and by 10% in 2022.</p>\n<p>Warren Buffett Recommendation</p>\n<p>Berkshire stock has lagged the S&amp;P 500 index since the end of 2018. Before that, BRKB stock at best moved with the market for a decade. An investor could have bought an index fund or ETF like the SPDR S&amp;P 500 ETF (SPY), and generated similar or higher returns with less stock-specific risk.</p>\n<p>\"In my view, for most people, the best thing to do is owning the S&amp;P 500 index fund, Buffett himself previously said at a Berkshire annual meeting. \"If you bet on America and sustain that position for decades, you'd do far better than buying Treasury securities, or far better than following people. Perhaps with a bias, I don't believe anyone knows what the market is going to do tomorrow, next week, next month, next year.\"</p>\n<p>But given how BRKB stock is outperforming the S&amp;P 500 so far this year, it could finally be set for a period of outperformance.</p>\n<p>Berkshire Hathaway Earnings Improve</p>\n<p>The firm's famed $281.2 billion stock portfolio helped lift Berkshire's net income 23% to $35.8 billion in Q4.</p>\n<p>Excluding some of the investments, operating earnings rose to $5 billion from $4.4 billion a year ago.</p>\n<p>BRKB earnings per share powered back following the two previous quarters of decline, coming in above analyst views. They rose 19% to $2.15.</p>\n<p>Buffett's Cash Mountain Still Mighty</p>\n<p>Berkshire's cash pile dipped to $138.3 billion in Q4 from $145.7 billion in Q3. Still, in recent years the amount of available funds had swelled to record levels, raising expectations that Buffett would make a big acquisition.</p>\n<p>Having such a large supply of cash protects the Warren Buffett stock during tough times. It also mean Berkshire Hathaway is able to deploy capital when desirable businesses become available for purchase.</p>\n<p>The more aggressive buying of Berkshire's own shares last year contrasts with Buffett's deals during and after the Great Recession, indicating that the latest economic downturn and recovery, so far, offer none of the bargains he has historically pounced on.</p>\n<p>Analyst Backs Berkshire Stock</p>\n<p>UBS analyst Brian Meredith is rating BRKB stock as a buy with a 272 target.</p>\n<p>\"Our estimates assume the economy reopens in 2Q21 which will provide a tailwind for BNSF and the Manufacturing, Services and Retail businesses,\" he said in a note to clients.</p>\n<p>Meredith increased his expectation for share buybacks to $4.5 billion in the first quarter, and to $8 billion for the full year. However he said this could \"prove overly conservative.\"</p>\n<p>Buybacks will help drive the price of Berkshire stock higher.</p>\n<p>Difference Between BRKA Stock And BRKB Stock</p>\n<p>The most obvious difference between Berkshire Hathaway's A class and B class shares is the price. While — at over 200 a share — BRKB stock may be considered relatively expensive, BRKA stock is the most expensive on the market, currently trading near $350,000 a share.</p>\n<p>Warren Buffett decided to introduce the BRKB shares to allow investors to purchase stock directly. Big demand for Berkshire Hathaway stock forced less-moneyed players to plow cash into unit trusts or mutual funds that mirrored his company's holdings.</p>\n<p>Berkshire Hathaway Today</p>\n<p>Berkshire Hathaway operates in four main sectors.</p>\n<p>Its insurance group is one of its biggest cash cows. One of the most famous jewels in the crown is Geico. Other parts of this business include multinational property/casualty and life/health reinsurance company General Re and Berkshire Hathaway Reinsurance Group. The latter underwrites excess-of-loss reinsurance and quota-share coverage globally.</p>\n<p>Insurance operations are a big reason why Berkshire Hathaway earnings can be lumpy.</p>\n<p>Its Regulated Utility Business group includes Berkshire Hathaway Energy, formerly known as MidAmerican Energy. It also includes railway services arm BNSF, North America's largest freight railroad network.</p>\n<p>Meanwhile, the Manufacturing, Service &amp; Retailing group includes Acme Building Brands, Fruit of the Loom and Justin Brands. The likes of Buffalo News, Business Wire, Dairy Queen and NetJets fall under the service subsector. Retailers include See's Candies, Ben Bridge Jeweler, Helzberg Diamond Shops and Star Furniture.</p>\n<p>Finally, the Finance &amp; Financial Products segment includes: Hathaway Credit Corporation, transportation equipment and furniture leasing specialists XTRA and CORT, and BH Finance whose main interest is in proprietary investing strategies.</p>\n<p>Berkshire Hathaway Stock Is Not A Buy, For Now</p>\n<p>While Berkshire Hathaway stock has been lagging the S&amp;P 500 index since late 2018, it has started to find some performance. But it has been slipping again of late, even though Berkshire stock is still clear of a buy zone.</p>\n<p>In 2020, BRKB stock's gains lagged the broader S&amp;P 500, but it is beating this benchmark so far in 2021. Nevertheless, its poor Composite Rating underlines the fact overall performance is not ideal.</p>\n<p>After a late-2018 burst, Berkshire Hathaway earnings growth has been modest and uneven. But Wall Street sees solid EPS growth ahead for Berkshire in 2021 and 2022.</p>\n<p>Bottom line: Berkshire Hathaway stock is not a buy at the moment. Those interested in buying the ultimate Warren Buffett could add it to their watchlist, and watch to see if its performance continues to improve.</p>\n<p>Someone looking for true market leaders should check out&nbsp;IBD Stock Lists, including the&nbsp;IBD 50 list of top-performing stocks.</p>","source":"lsy1610449120050","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Ultimate Warren Buffett Stock Is Near Buy Zone, But Should You Buy It?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Ultimate Warren Buffett Stock Is Near Buy Zone, But Should You Buy It?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-24 11:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/research/berkshire-hathaway-stock-buy-now-warren-buffett-stock/><strong>investors</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett is widely regarded as one of the greatest investors of all time. One way to share in his success is to invest in his firm,Berkshire Hathaway(BRKB). Berkshire stock is near a buy zone, ...</p>\n\n<a href=\"https://www.investors.com/research/berkshire-hathaway-stock-buy-now-warren-buffett-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{"BRK.A":"伯克希尔"},"source_url":"https://www.investors.com/research/berkshire-hathaway-stock-buy-now-warren-buffett-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164066925","content_text":"Warren Buffett is widely regarded as one of the greatest investors of all time. One way to share in his success is to invest in his firm,Berkshire Hathaway(BRKB). Berkshire stock is near a buy zone, but is it a good buy for you now? Let's take a close look at the fundamental and technical performance of the ultimate Warren Buffett stock.\nBerkshire Hathaway is a conglomerate that owns some of America's most famous firms. It wholly owns the likes of Geico, Duracell, Dairy Queen, Fruit of the Loom and railroad operator BNSF.\nBerkshire Hathaway is perhaps more famous for serving as an investment vehicle for Warren Buffett and his top lieutenant, Charlie Munger. Following their value investing philosophy,the company owns huge stakesin American Express(AXP), Coca-Cola(KO) and other heavy hitters.\nBut the definition of a Warren Buffett stock has evolved in recent years. Warren Buffett became a big investor in airlines such asDelta Air Lines(DAL). But he was left to rue his decision to go against his own long-held views about that industry's lack of profitability. The move blew up in his face as airline stocks were decimated due to the global coronavirus pandemic.\nUnder investment managers Todd Combs and Ted Weschler, Berkshire Hathaway has been increasingly sinking money into tech. It's taken large positions in established giants likeApple(AAPL), as well as younger companies like Brazilian payments companyStoneCo(STNE) and new software IPOSnowflake(SNOW). Berkshire also snapped up a stake inAmazon.com(AMZN).\nWarren Buffett Doubles Down On Berkshire Stock\nWarren Buffett spent matched the previous quarter's record spending on Berkshire Hathaway stock in the most recent quarter. Thefirm's results showed Berkshire repurchased about $9 billion in shares, steady with the record $9 billion in Q3.\nThese repurchases were also a big jump from the $5.1 billion in Q2. At the time, that was more than double the prior quarterly record of $2.2 billion in Q4 2019 and a shift from slower stock repurchases of $1.7 billion in Q1.\nBuffett said the company has repurchased more shares since the end of 2020, and \"is likely to further reduce its share count in the future.\"\nWhile he has historically been reluctant to splurge on stock repurchases, he explained his change of heart in his latest annual letter to shareholders.\n\"The math of repurchases grinds away slowly, but can be powerful over time,\" he wrote. \"The process offers a simple way for investors to own an ever-expanding portion of exceptional businesses.\"\nBerkshire loosened rules for Buffett to buy back shares in 2018. With Berkshire steadfastly cautious on M&A in recent years, investors have been clamoring for more repurchases.\nBerkshire Hathaway Tweaks Portfolio\nWarren Buffett took a huge stake inVerizon(VZ) stock while dumping JPMorgan (JPM) stock entirely, according to thefirm's latest regulatory filing.\nIts new Verizon stake is massive, with Berkshire paying $8.62 billion for 147 million shares. It now accounts for 3% of the portfolio, making it the No. 6 stock by number of shares held.\nBuffett also opened new stakes inChevron(CVX),Marsh & McLennan(MMC) andEW Scripps(SSP) in Q4.\nBerkshire dumped entirelyPfizer(PFE),JPMorgan Chase(JPM),Barrick Gold(GOLD),M&T Bank(MTB) andPNC Financial(PNC).\nThe conglomerate grew stakes by 117% inT-Mobile(TMUS), 34% inKroger(KR), 28% inMerck(MRK), 20% inAbbVie(ABBV), 11% inBristol-Myers Squibb(BMY), and 1% inRH(RH).\nBuffett cut Berkshire's stake in Apple stock by 6%. It remains the No. 1 stock in his portfolio by market value and No. 2 stock by number of shares held, at 10.6% of the portfolio. He kept an Amazon stake steady.\nWarren Buffett Funds Media Deal\nBerkshire Hathaway is a key backer in a deal disclosed Sept. 24 that will see TV station ownerE.W. Scripps(SSP) purchase privately held cable network ION Media for $2.65 billion. The latter firm's flagship, ION Television, is a top 5-ranked U.S. general entertainment network.\nWarren Buffett's firm is snapping up $600 million of Scripps preferred shares to help fund the deal. Scripps stock surged on on the news.\nBerkshire will also receive a warrant that allows it to snap up up to 23.1 million more shares at a price of $13. This adds up to an additional investment of $300 million. Scripps' common shares, however, currently trade below 11 each.\nBerkshire Hathaway Coronavirus Exposure\nAs well as its status as an investment vehicle, Berkshire Hathaway is a conglomerate in its own right. It has interests in segments such as railroads, utilities and energy.\nThose sectors, along with other \"real economy\" companies that are Warren Buffett staples, have been hard hit by the coronavirus shutdowns and massive economic contraction. However they should benefit as the economy opens up again.\nBerkshire owns Geico, the No. 2 U.S. auto insurer after State Farm. Currently, states such as California are ordering insurers to give partial credits or refunds of premiums in lines such as private passenger automobile insurance.\nRailroads Not Immune\nBerkshire also owns BNSF Railway Company, the largest freight railroad network in North America. Rail operators such asUnion Pacific(UNP) andCSX(CSX) have seen business suffer during the pandemic. But rail operators and other transportation companies are seeing business pick up again.\nOther wholly owned businesses such as Dairy Queen and multilevel marketing company Pampered Chef also struggled during coronavirus restrictions, though those are easing.\nWarren Buffett's Big Gas Bill\nWarren Buffett has been criticized for the size of his cash pile. But last July he madehis biggest acquisition in yearswith a $10 billion deal forDominion Energy's (D) assets.\nBerkshire seized the chance to secure Dominion's gas pipeline network after the utility giant andDuke Energy(DUK) unexpectedly aborted plans to build the Atlantic Coast Pipeline.\nBerkshire Hathaway Energy will buy about 7,700 miles of natural gas transmission pipelines and 900 billion cubic feet of gas storage. The all-cash deal includes $4 billion of equity and $5.7 billion of debt. It's set to close in the fourth quarter.\n\"We are very proud to be adding such a great portfolio of natural gas assets to our already strong energy business,\" Buffett said in a statement.\nEnergy has been doing well so far in 2021. For example, the Vanguard Energy ETF (VDE) is up 39% since the start of the year.\nBerkshire Hathaway Stock Technical Analysis\nAmid the coronavirus-related stock market pullback, Berkshire Hathaway stock plummeted. MarketSmith analysis showsit has recovered from its woes, and recently broke out of anew flat base. While it managed to clear its buy zone, it is now sinking back towards it. Theideal buy pointwas 235.09.\nThe flat base is one of the few reliable patterns that quality stocks form before they make substantial price advances. Bolstering the new base's case is the fact it is a first-stage pattern. IBD research showsearly stage bases have a higher chance of success.\nBefore rallying back into buy zone, BRKB stock fell below its50-day moving average. The fact it is falling back towards this key technical benchmark is a concern.\nTherelative strength lineof Berkshire Hathaway stock had been showing some promise, but has been declining again of late. It remains shy of 12 month highs. The RS line, the blue line in the charts provided, tracks a stock's performance vs. the S&P 500 index.\nBRKB stock is outperforming in 2021. So far this year it is up 7%, which beats the broader S&P 500's return of 4.1%.\nItsIBD Composite Ratingnow sits at 45 out of 99, which is still far from ideal. This puts it in the bottom 45% of stocks tracked.\nTheStock Checkup Toolshows earnings have growth rate by an average of 13% over the past three years, which is not ideal. Earnings ultimately drive stock performance.\nThe CAN SLIM systemrecommends investors look for companies with average EPS growth of at least 25% over this time period.\nWall Street is becoming more optimistic for Berkshire Hathaway earnings growth going forward. Analysts are projecting annual earnings will rise 18% 2021, and by 10% in 2022.\nWarren Buffett Recommendation\nBerkshire stock has lagged the S&P 500 index since the end of 2018. Before that, BRKB stock at best moved with the market for a decade. An investor could have bought an index fund or ETF like the SPDR S&P 500 ETF (SPY), and generated similar or higher returns with less stock-specific risk.\n\"In my view, for most people, the best thing to do is owning the S&P 500 index fund, Buffett himself previously said at a Berkshire annual meeting. \"If you bet on America and sustain that position for decades, you'd do far better than buying Treasury securities, or far better than following people. Perhaps with a bias, I don't believe anyone knows what the market is going to do tomorrow, next week, next month, next year.\"\nBut given how BRKB stock is outperforming the S&P 500 so far this year, it could finally be set for a period of outperformance.\nBerkshire Hathaway Earnings Improve\nThe firm's famed $281.2 billion stock portfolio helped lift Berkshire's net income 23% to $35.8 billion in Q4.\nExcluding some of the investments, operating earnings rose to $5 billion from $4.4 billion a year ago.\nBRKB earnings per share powered back following the two previous quarters of decline, coming in above analyst views. They rose 19% to $2.15.\nBuffett's Cash Mountain Still Mighty\nBerkshire's cash pile dipped to $138.3 billion in Q4 from $145.7 billion in Q3. Still, in recent years the amount of available funds had swelled to record levels, raising expectations that Buffett would make a big acquisition.\nHaving such a large supply of cash protects the Warren Buffett stock during tough times. It also mean Berkshire Hathaway is able to deploy capital when desirable businesses become available for purchase.\nThe more aggressive buying of Berkshire's own shares last year contrasts with Buffett's deals during and after the Great Recession, indicating that the latest economic downturn and recovery, so far, offer none of the bargains he has historically pounced on.\nAnalyst Backs Berkshire Stock\nUBS analyst Brian Meredith is rating BRKB stock as a buy with a 272 target.\n\"Our estimates assume the economy reopens in 2Q21 which will provide a tailwind for BNSF and the Manufacturing, Services and Retail businesses,\" he said in a note to clients.\nMeredith increased his expectation for share buybacks to $4.5 billion in the first quarter, and to $8 billion for the full year. However he said this could \"prove overly conservative.\"\nBuybacks will help drive the price of Berkshire stock higher.\nDifference Between BRKA Stock And BRKB Stock\nThe most obvious difference between Berkshire Hathaway's A class and B class shares is the price. While — at over 200 a share — BRKB stock may be considered relatively expensive, BRKA stock is the most expensive on the market, currently trading near $350,000 a share.\nWarren Buffett decided to introduce the BRKB shares to allow investors to purchase stock directly. Big demand for Berkshire Hathaway stock forced less-moneyed players to plow cash into unit trusts or mutual funds that mirrored his company's holdings.\nBerkshire Hathaway Today\nBerkshire Hathaway operates in four main sectors.\nIts insurance group is one of its biggest cash cows. One of the most famous jewels in the crown is Geico. Other parts of this business include multinational property/casualty and life/health reinsurance company General Re and Berkshire Hathaway Reinsurance Group. The latter underwrites excess-of-loss reinsurance and quota-share coverage globally.\nInsurance operations are a big reason why Berkshire Hathaway earnings can be lumpy.\nIts Regulated Utility Business group includes Berkshire Hathaway Energy, formerly known as MidAmerican Energy. It also includes railway services arm BNSF, North America's largest freight railroad network.\nMeanwhile, the Manufacturing, Service & Retailing group includes Acme Building Brands, Fruit of the Loom and Justin Brands. The likes of Buffalo News, Business Wire, Dairy Queen and NetJets fall under the service subsector. Retailers include See's Candies, Ben Bridge Jeweler, Helzberg Diamond Shops and Star Furniture.\nFinally, the Finance & Financial Products segment includes: Hathaway Credit Corporation, transportation equipment and furniture leasing specialists XTRA and CORT, and BH Finance whose main interest is in proprietary investing strategies.\nBerkshire Hathaway Stock Is Not A Buy, For Now\nWhile Berkshire Hathaway stock has been lagging the S&P 500 index since late 2018, it has started to find some performance. But it has been slipping again of late, even though Berkshire stock is still clear of a buy zone.\nIn 2020, BRKB stock's gains lagged the broader S&P 500, but it is beating this benchmark so far in 2021. Nevertheless, its poor Composite Rating underlines the fact overall performance is not ideal.\nAfter a late-2018 burst, Berkshire Hathaway earnings growth has been modest and uneven. But Wall Street sees solid EPS growth ahead for Berkshire in 2021 and 2022.\nBottom line: Berkshire Hathaway stock is not a buy at the moment. Those interested in buying the ultimate Warren Buffett could add it to their watchlist, and watch to see if its performance continues to improve.\nSomeone looking for true market leaders should check out IBD Stock Lists, including the IBD 50 list of top-performing stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325366551,"gmtCreate":1615865843273,"gmtModify":1704787665748,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Like and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/325366551","repostId":"1196198740","repostType":4,"repost":{"id":"1196198740","kind":"news","pubTimestamp":1615865708,"share":"https://ttm.financial/m/news/1196198740?lang=&edition=fundamental","pubTime":"2021-03-16 11:35","market":"us","language":"en","title":"Stocks That Could Benefit as the U.S. Tries to Fix the Chip Shortage","url":"https://stock-news.laohu8.com/highlight/detail?id=1196198740","media":"Barrons","summary":"As the U.S. government inches closer to funding a batch of incentives and subsidies designed to spur","content":"<p>As the U.S. government inches closer to funding a batch of incentives and subsidies designed to spur domestic semiconductor manufacturing and research, aJ.P. Morgananalyst has figured out which stocks could stand to gain the most from it.</p><p>Amid global chip shortages, triggered in part by supply and demand fluctuations because of the Covid-19 pandemic as well asnatural disasters, Congress authorized a series of programs and incentives for U.S.-based chip companies earlier this year. Lawmakers included the programs designed to bolster U.S. manufacturing, research, and development in the National Defense Authorization Act for fiscal 2021, which became law in January, but didn’t provide funding for those initiatives.</p><p>According to J.P. Morgan chip analyst Harlan Sur, it’s likely that funding for those programs may be included in President Joe Biden ‘s infrastructure bill, one of the next priorities for the administration. Sur expects the “Build Back Better” infrastructure plan to pass in the first half of the year, resulting in funding starting in the second half of 2021.</p><p>Sur’s team estimated the incentives and subsidies could total between $35 billion and $37 billion, with about $18 billion to $20 billion for domestic chip manufacturing and $15 billion to $17 billion for chip research and development.</p><p>Based on the current language in the National Defense Authorize Act, Sur wrote in a note published on Monday that he expects integrated device manufacturers based in the U.S. will likely be prioritized when it’s time to dole out funds and incentives.</p><p>Those would include manufacturers such as&nbsp;Intel(ticker: INTC),Micron Technology(MU),Texas Instruments(TXN),Analog Devices(ADI), and&nbsp;On Semiconductor(ON) are all likely to benefit, Sur wrote. Companies that have U.S. defense-related qualifications are well-positioned to benefit as well, he wrote.Taiwan Semiconductor Manufacturing(TSM) and&nbsp;NXP Semiconductors(NXPI), international-based chip manufacturers that operate in the U.S., should benefit too, he said, but to a lesser degree.</p><p>Companies that make chip manufacturing equipment such as&nbsp;Applied Materials(AMAT) and&nbsp;Lam Research(LRCX) should also receive a lift because of higher equipment purchasing resulting from the incentives.</p><p>The&nbsp;PHLX Semiconductor index,or Sox, advanced about 2% on Monday, led by&nbsp;NXP Semiconductors&nbsp;NXP, which rose 8.9% to $199.91, and&nbsp;Broadcom(AVGO), which jumped 4.3% to $470.77.</p><p>The Sox has gained 94% in the past year as&nbsp;demand for chips&nbsp;destined for productsranging from appliancesand videogame consoles to vehicles and smartphones has outpaced the industry’s ability to produce semiconductors.</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>Stocks That Could Benefit as the U.S. Tries to Fix the Chip Shortage</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\">\nStocks That Could Benefit as the U.S. Tries to Fix the Chip Shortage\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-16 11:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-u-s-is-trying-to-fix-the-chip-shortage-what-it-could-mean-for-semiconductor-stocks-51615838286?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As the U.S. government inches closer to funding a batch of incentives and subsidies designed to spur domestic semiconductor manufacturing and research, aJ.P. Morgananalyst has figured out which stocks...</p>\n\n<a href=\"https://www.barrons.com/articles/the-u-s-is-trying-to-fix-the-chip-shortage-what-it-could-mean-for-semiconductor-stocks-51615838286?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ON":"安森美半导体","TXN":"德州仪器","NXPI":"恩智浦","ADI":"亚德诺","TSM":"台积电","MU":"美光科技","INTC":"英特尔"},"source_url":"https://www.barrons.com/articles/the-u-s-is-trying-to-fix-the-chip-shortage-what-it-could-mean-for-semiconductor-stocks-51615838286?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196198740","content_text":"As the U.S. government inches closer to funding a batch of incentives and subsidies designed to spur domestic semiconductor manufacturing and research, aJ.P. Morgananalyst has figured out which stocks could stand to gain the most from it.Amid global chip shortages, triggered in part by supply and demand fluctuations because of the Covid-19 pandemic as well asnatural disasters, Congress authorized a series of programs and incentives for U.S.-based chip companies earlier this year. Lawmakers included the programs designed to bolster U.S. manufacturing, research, and development in the National Defense Authorization Act for fiscal 2021, which became law in January, but didn’t provide funding for those initiatives.According to J.P. Morgan chip analyst Harlan Sur, it’s likely that funding for those programs may be included in President Joe Biden ‘s infrastructure bill, one of the next priorities for the administration. Sur expects the “Build Back Better” infrastructure plan to pass in the first half of the year, resulting in funding starting in the second half of 2021.Sur’s team estimated the incentives and subsidies could total between $35 billion and $37 billion, with about $18 billion to $20 billion for domestic chip manufacturing and $15 billion to $17 billion for chip research and development.Based on the current language in the National Defense Authorize Act, Sur wrote in a note published on Monday that he expects integrated device manufacturers based in the U.S. will likely be prioritized when it’s time to dole out funds and incentives.Those would include manufacturers such as Intel(ticker: INTC),Micron Technology(MU),Texas Instruments(TXN),Analog Devices(ADI), and On Semiconductor(ON) are all likely to benefit, Sur wrote. Companies that have U.S. defense-related qualifications are well-positioned to benefit as well, he wrote.Taiwan Semiconductor Manufacturing(TSM) and NXP Semiconductors(NXPI), international-based chip manufacturers that operate in the U.S., should benefit too, he said, but to a lesser degree.Companies that make chip manufacturing equipment such as Applied Materials(AMAT) and Lam Research(LRCX) should also receive a lift because of higher equipment purchasing resulting from the incentives.The PHLX Semiconductor index,or Sox, advanced about 2% on Monday, led by NXP Semiconductors NXP, which rose 8.9% to $199.91, and Broadcom(AVGO), which jumped 4.3% to $470.77.The Sox has gained 94% in the past year as demand for chips destined for productsranging from appliancesand videogame consoles to vehicles and smartphones has outpaced the industry’s ability to produce semiconductors.","news_type":1},"isVote":1,"tweetType":1,"viewCount":58,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345135370,"gmtCreate":1618285848190,"gmtModify":1704708610374,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/345135370","repostId":"1146450605","repostType":4,"repost":{"id":"1146450605","kind":"news","pubTimestamp":1618271053,"share":"https://ttm.financial/m/news/1146450605?lang=&edition=fundamental","pubTime":"2021-04-13 07:44","market":"us","language":"en","title":"S&P 500 closes flat near record high in another muted session ahead of key inflation data","url":"https://stock-news.laohu8.com/highlight/detail?id=1146450605","media":"CNBC","summary":"U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of","content":"<div>\n<p>U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings.The S&P 500 dipped ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/11/stock-market-futures-open-to-close-news.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>S&P 500 closes flat near record high in another muted session ahead of key inflation data</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 closes flat near record high in another muted session ahead of key inflation data\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-13 07:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/11/stock-market-futures-open-to-close-news.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings.The S&P 500 dipped ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/11/stock-market-futures-open-to-close-news.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","NVDA":"英伟达",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","INTC":"英特尔","TSLA":"特斯拉","NUAN":"微妙通讯","MSFT":"微软"},"source_url":"https://www.cnbc.com/2021/04/11/stock-market-futures-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1146450605","content_text":"U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings.The S&P 500 dipped less than 1 point to 4,127.99 after closing at a record high in the previous session. The Dow Jones Industrial Average slipped 55.20 points, or 0.2%, to 33,745.40, also falling from a record high. Intel was the biggest decliner in the blue-chip Dow, dropping more than 4%. The Nasdaq Composite fell 0.4% to 13,850.00.Wall Street has been relatively quiet with the S&P 500 moving within 1% for five sessions in a row. Market volatility has declined to pre-pandemic levels amid rising reopening optimism. The Cboe Volatility Index, AKA the VIX or the market’s fear gauge, has traded below 18 for the past four days, a level unseen since February 2020.Shares of Nuance Communications jumped nearly 16% after Microsoft announced it will buy the speech recognition company in a $16 billion deal.The Nuance acquisition represents Microsoft’s largest acquisition since it bought LinkedIn for more than $26 billion in 2016.Nvidia jumped 5.6% after the chip giant said it first quarter revenue for fiscal 2022 is tracking above its previously provided outlook and that it expects demand to continue to exceed supply for much of this year.Nvidia plans new chip to compete with intel in data-center market.The weakness in reopening plays weighed on the overall market with shares of Carnival and Norwegian Cruise Line off more than 4% each. United Airlines fell 3.9% after the carrier said its first-quarter revenue is expected to fall 66% compared with the same period in 2019. The new guidance fell near the top of the range between 65% and 70% that the company had previously forecast.“Amid new highs it’s not surprising for the market to be moving somewhat in a holding pattern of late,” said Chris Larkin,managing director of trading and investing product at E-Trade. “All eyes will likely be on the CPI read tomorrow for a benchmark on where we stand on the inflation front. And of course we’re ushering in earnings season which could be a catalyst for market moves over the next few weeks.”The first-quarter earnings reporting season begins this week, with expectations set for broadly positive news and an uptrend for U.S. equities thanks to a recovering economy. Many of the nation’s largest banks, including Goldman Sachs and JPMorgan Chase will this week report results for the three months ended March 31.This week is also packed with Federal Reserve speeches and key economic data including a hotly anticipated inflation readingTuesday, when the U.S. consumer price index is released. Economists polled by Dow Jones anticipate a 0.5% gain in CPI month over month and a 2.5% increase from last year’s level.Tesla gained 3.7% to above $700 Monday after Canaccord Genuity upgraded the stock to buy and raised its price target to $1,071, citing its battery innovations.Fed Chairman Jerome Powell on Sunday reiterated that the Fed wants to see inflation rise above its 2% for an extended period before officials move to raise interest rates.“We want to see inflation move up to 2% — and we mean that on a sustainable basis, we don’t mean just tap the base once,” Powell said in an interview that aired Sunday evening on CBS News’ “60 Minutes.” “But then we’d also like to see it on track to move moderately above 2% for some time.”He added that amid an accelerated Covid-19 vaccine rollout and strong fiscal support, the U.S. economy appears to be at a turning point.Powell will also speak Wednesday at an Economic Club of Washington event.Investors will also keep an eye on President Joe Biden’s effort to advance a major infrastructure proposal known as the American Jobs Plan. Biden, who with other Democrats promised significant an infrastructure overhaul in the 2020 elections, wil lmeet with a bipartisan group of lawmakers on Monday to try to persuade Capitol Hill to back the $2 trillion package.Congress will return to Washington this week and be in session for the first time since Biden debuted his proposal, which earmarks hundreds of billions of dollars for roads, bridges, airports, broadband, electric vehicles, housing and job training.The president’s plan would also increase the corporate tax rate to 28% and crack down on other overseas tax avoidance strategies.","news_type":1},"isVote":1,"tweetType":1,"viewCount":334,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341751646,"gmtCreate":1617859630585,"gmtModify":1704704044752,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/341751646","repostId":"1141543306","repostType":4,"isVote":1,"tweetType":1,"viewCount":286,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343176143,"gmtCreate":1617696814382,"gmtModify":1704701892192,"author":{"id":"3574717274301876","authorId":"3574717274301876","name":"HuatZaiKai","avatar":"https://static.tigerbbs.com/0c6cf2fdda0aff129dcf80790bc769fa","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574717274301876","idStr":"3574717274301876"},"themes":[],"htmlText":"Comment and like please","listText":"Comment and like please","text":"Comment and like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/343176143","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","kind":"news","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",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"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":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}