Chye personal page - To The Moon

Chye

Chye

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2021-06-03

$Riot Blockchain, Inc.(RIOT)$down down down

2021-05-27

$Riot Blockchain, Inc.(RIOT)$????

2021-05-23

$Riot Blockchain, Inc.(RIOT)$dump eet

2021-05-22

Amazing

2021-05-22

$Riot Blockchain, Inc.(RIOT)$grrrrreat

2021-05-17

Save me pls

2021-05-12

Hmm what is dis

2021-05-11

Pls man

2021-05-11

$Riot Blockchain, Inc.(RIOT)$hhmmm

2021-05-10

$Riot Blockchain, Inc.(RIOT)$looks great really great couldn't be greater

2021-05-09

Yes pls

2021-05-09

$Riot Blockchain, Inc.(RIOT)$mmm

2021-05-09

Tell me why

2021-05-09

$Riot Blockchain, Inc.(RIOT)$cmon bby

2021-05-07

$Riot Blockchain, Inc.(RIOT)$cmon bby

2021-05-06

$Riot Blockchain, Inc.(RIOT)$hmm

2021-05-05

$Riot Blockchain, Inc.(RIOT)$tell me why ain't nothin

2021-05-04

When fly

2021-05-04

$Riot Blockchain, Inc.(RIOT)$sigh

2021-05-03

??? What is happening

Go to Tiger App to see more news

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Inc.(RIOT)$tell me why ain't nothin","images":[{"img":"https://static.tigerbbs.com/f028bd29a59891c8220a77cc60e565f2","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/102499054","isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":106461323,"gmtCreate":1620139931962,"gmtModify":1704339233852,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574841223542926","authorIdStr":"3574841223542926"},"themes":[],"htmlText":"When fly","listText":"When fly","text":"When fly","images":[{"img":"https://static.tigerbbs.com/f13525624ce570d1b64e4e12af1ad196","width":"1080","height":"2622"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/106461323","isVote":1,"tweetType":1,"viewCount":208,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":106461094,"gmtCreate":1620139913618,"gmtModify":1704339232862,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574841223542926","authorIdStr":"3574841223542926"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>sigh","listText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>sigh","text":"$Riot Blockchain, Inc.(RIOT)$sigh","images":[{"img":"https://static.tigerbbs.com/c01b3d738acd0b20115103823b87088b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/106461094","isVote":1,"tweetType":1,"viewCount":161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":108780357,"gmtCreate":1620054510379,"gmtModify":1704338007752,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574841223542926","authorIdStr":"3574841223542926"},"themes":[],"htmlText":"??? What is happening","listText":"??? What is happening","text":"??? What is happening","images":[{"img":"https://static.tigerbbs.com/01a01b6c92fc09e1edba68cae750152a","width":"1080","height":"2622"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/108780357","isVote":1,"tweetType":1,"viewCount":68,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":327499119,"gmtCreate":1616114783331,"gmtModify":1704791101719,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/327499119","repostId":"1191266303","repostType":4,"repost":{"id":"1191266303","kind":"news","pubTimestamp":1616114370,"share":"https://ttm.financial/m/news/1191266303?lang=&edition=fundamental","pubTime":"2021-03-19 08:39","market":"us","language":"en","title":"What If the U.S. Treasury Stopped Selling 10-Year Notes?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191266303","media":"Bloomberg","summary":"As longer-term yields climb, remember that the federal government has many options to finance itself","content":"<p>As longer-term yields climb, remember&nbsp;that the federal government has many options to finance itself.</p>\n<p>Another day, another tantrum in the world’s biggest bond market.</p>\n<p>The benchmark 10-year U.S. Treasury yield jumped as much as 11 basis points on Thursday to 1.75%, while the 30-year yield&nbsp;climbed 10 basis points to 2.51%. The fear is palpable among fixed-income investors that the Federal Reserve will truly allow inflation to exceed its 2% target for an extended period before raising interest rates and pumping the brakes on the economy. This isn’t&nbsp;a surprise to anyone who has been paying attention, but nonetheless the central bank’s projections this week hammered home the shift in its monetary-policy framework.</p>\n<p>Meanwhile, the Fed showed no interest in some of the more elaborate ideas about how to tame longer-term Treasury yields, such as an “Operation Twist” type effort to reduce purchases of shorter-dated debt and buy more long bonds&nbsp;or outright yield-curve control. This was the right move: Clearly, bond traders across the world are still grappling with the central bank’s new reaction function.&nbsp;In five of the last 16 trading sessions, 10-year yields have increased by more than eight&nbsp;basis points. In the second half of 2020, such a move happened only four times. It’s too risky for the Fed to try to intervene in such volatile markets —&nbsp;failure to tame them would only make things worse.</p>\n<p>As it stands now, the yield curve from two to 10 years is the steepest since July 2015, at about 159 basis points, while the curve from five to 30 years is 161 basis points, just about&nbsp;the steepest since August 2014. While this is typically a sign that markets expect strong economic growth, it also means that the cost to borrow for decades is now significantly higher than it is to sell shorter-dated debt. That makes sense, given that the Fed has almost total control over front-end rates and reiterated that it’s in no hurry to raise them.</p>\n<p><img src=\"https://static.tigerbbs.com/b1a025bbaa665efa95855f196aac62c0\" tg-width=\"846\" tg-height=\"463\"></p>\n<p>So if investors are fretting about higher long-term yields, and it’s cheaper to borrow with short-dated debt, why doesn’t Treasury Secretary Janet Yellen just stop selling 10-year notes altogether? It would, in effect, be the Treasury Department’s own version of Operation Twist. And it would surely get the attention of bond traders who appear hellbent on raising a ruckus over Fed Chair Jerome Powell’s&nbsp;refusal&nbsp;to give in to their tantrums.</p>\n<p>Recent research supports such a move, even if it seems highly unlikely to happen in practice.&nbsp;Martin Ellison from the University of Oxford and Andrew Scott from the London Business School published a report last year that tracked&nbsp;British government bonds dating all the way back to&nbsp;1694 and found “a substantial cost advantage in favor of issuing short bonds, even when considering some of the operational risks implied by cash flows and gross redemptions.”&nbsp;Matthew C. Klein at Barron’s&nbsp;wrote&nbsp;about this study&nbsp;when it was published, concluding that the only reason it makes sense for Treasury officials to sell long bonds is if they expect much higher and sustained inflation than bond traders. It’s not clear that’s the case.</p>\n<p>If that’s not convincing, none other than Milton Friedman has floated a similar notion. In a 1948 paper titled “A Monetary and Fiscal Framework for Economic Stability,” he discussed a proposal in which “government expenditures would be financed entirely by either tax revenues or the creation of money, that is, the issue of non-interest-bearing securities. Government would not issue interest-bearing securities to the public.” This sounds a lot like what Stephanie Kelton would write some 70 years later in her book on Modern Monetary Theory:</p>\n<blockquote>\n “U.S. Treasuries are just interest-bearing dollars. To buy some of those interest-bearing dollars from the government, you first need the government’s currency. We might call the former ‘yellow dollars’ and the latter ‘green dollars’ …&nbsp;what we call government borrowing is nothing more than Uncle Sam allowing people to transform green dollars into interest-bearing yellow dollars.”\n</blockquote>\n<p>It’s not quite such a simple calculation for the Treasury, however. David Beckworth,&nbsp;a senior research fellow at&nbsp;the Mercatus Center of&nbsp;George Mason University and&nbsp;former Treasury Department economist, points to the highly influential&nbsp;Treasury Borrowing Advisory Committee&nbsp;as a reason it would be difficult to move to a short-term only borrowing structure. The group includes executives from Goldman Sachs Group Inc., BlackRock Inc. and Pacific Investment Management Co., among other large banks and money managers. “TBAC says we want this level of maturity,” Beckworth says, “and Treasury is sensitive to the market’s need.”</p>\n<p>Certainly, any effort to shorten maturities or do away with long bonds entirely&nbsp;would receive pushback from liability-driven investors like&nbsp;pension funds and insurance companies. But remember, Treasury apparently didn’t find enough demand from these institutions for a 50-year maturity, which is why it settled for bringing back 20-year bonds instead. Besides, any move by the federal government to suspend&nbsp;10-year or 30-year securities wouldn’t stop investment-grade companies from issuing such debt. State and local governments could also lock in lower borrowing costs with long-term taxable or tax-exempt bonds. It’s not as if all duration would disappear from the financial markets.</p>\n<p>To be clear, I don’t expect Yellen’s Treasury would entertain doing away with long-term borrowing entirely. It’s simply too confusing for many people to think of the federal government as anything other than a business that should strive to lock in historically low long-term borrowing costs,&nbsp;even if in reality there’s no reason to think that the world’s largest economy and issuer of the global reserve currency&nbsp;couldn’t just roll over short-term debt time and again. At best, Treasury may consider scaling back its average maturity if yield curves continue to steepen as they have in recent months.</p>\n<p>Rather, it’s a reminder that bond traders pushing the 10-year yield&nbsp;higher isn’t some sort of&nbsp;existential crisis. Yes, it’s a global borrowing benchmark and is used as a risk-free rate to value a range of financial assets. But it wouldn’t take all that much for Powell and Yellen to simply turn the entire yield curve into something resembling the overnight rate set by the Fed. With that kind of power, it’s little wonder that they tune out&nbsp;the&nbsp;day-to-day tantrums.</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>What If the U.S. Treasury Stopped Selling 10-Year Notes?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat If the U.S. Treasury Stopped Selling 10-Year Notes?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 08:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/opinion/articles/2021-03-18/what-if-the-u-s-treasury-stopped-selling-10-year-notes><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As longer-term yields climb, remember that the federal government has many options to finance itself.\nAnother day, another tantrum in the world’s biggest bond market.\nThe benchmark 10-year U.S. ...</p>\n\n<a href=\"https://www.bloomberg.com/opinion/articles/2021-03-18/what-if-the-u-s-treasury-stopped-selling-10-year-notes\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.bloomberg.com/opinion/articles/2021-03-18/what-if-the-u-s-treasury-stopped-selling-10-year-notes","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191266303","content_text":"As longer-term yields climb, remember that the federal government has many options to finance itself.\nAnother day, another tantrum in the world’s biggest bond market.\nThe benchmark 10-year U.S. Treasury yield jumped as much as 11 basis points on Thursday to 1.75%, while the 30-year yield climbed 10 basis points to 2.51%. The fear is palpable among fixed-income investors that the Federal Reserve will truly allow inflation to exceed its 2% target for an extended period before raising interest rates and pumping the brakes on the economy. This isn’t a surprise to anyone who has been paying attention, but nonetheless the central bank’s projections this week hammered home the shift in its monetary-policy framework.\nMeanwhile, the Fed showed no interest in some of the more elaborate ideas about how to tame longer-term Treasury yields, such as an “Operation Twist” type effort to reduce purchases of shorter-dated debt and buy more long bonds or outright yield-curve control. This was the right move: Clearly, bond traders across the world are still grappling with the central bank’s new reaction function. In five of the last 16 trading sessions, 10-year yields have increased by more than eight basis points. In the second half of 2020, such a move happened only four times. It’s too risky for the Fed to try to intervene in such volatile markets — failure to tame them would only make things worse.\nAs it stands now, the yield curve from two to 10 years is the steepest since July 2015, at about 159 basis points, while the curve from five to 30 years is 161 basis points, just about the steepest since August 2014. While this is typically a sign that markets expect strong economic growth, it also means that the cost to borrow for decades is now significantly higher than it is to sell shorter-dated debt. That makes sense, given that the Fed has almost total control over front-end rates and reiterated that it’s in no hurry to raise them.\n\nSo if investors are fretting about higher long-term yields, and it’s cheaper to borrow with short-dated debt, why doesn’t Treasury Secretary Janet Yellen just stop selling 10-year notes altogether? It would, in effect, be the Treasury Department’s own version of Operation Twist. And it would surely get the attention of bond traders who appear hellbent on raising a ruckus over Fed Chair Jerome Powell’s refusal to give in to their tantrums.\nRecent research supports such a move, even if it seems highly unlikely to happen in practice. Martin Ellison from the University of Oxford and Andrew Scott from the London Business School published a report last year that tracked British government bonds dating all the way back to 1694 and found “a substantial cost advantage in favor of issuing short bonds, even when considering some of the operational risks implied by cash flows and gross redemptions.” Matthew C. Klein at Barron’s wrote about this study when it was published, concluding that the only reason it makes sense for Treasury officials to sell long bonds is if they expect much higher and sustained inflation than bond traders. It’s not clear that’s the case.\nIf that’s not convincing, none other than Milton Friedman has floated a similar notion. In a 1948 paper titled “A Monetary and Fiscal Framework for Economic Stability,” he discussed a proposal in which “government expenditures would be financed entirely by either tax revenues or the creation of money, that is, the issue of non-interest-bearing securities. Government would not issue interest-bearing securities to the public.” This sounds a lot like what Stephanie Kelton would write some 70 years later in her book on Modern Monetary Theory:\n\n “U.S. Treasuries are just interest-bearing dollars. To buy some of those interest-bearing dollars from the government, you first need the government’s currency. We might call the former ‘yellow dollars’ and the latter ‘green dollars’ … what we call government borrowing is nothing more than Uncle Sam allowing people to transform green dollars into interest-bearing yellow dollars.”\n\nIt’s not quite such a simple calculation for the Treasury, however. David Beckworth, a senior research fellow at the Mercatus Center of George Mason University and former Treasury Department economist, points to the highly influential Treasury Borrowing Advisory Committee as a reason it would be difficult to move to a short-term only borrowing structure. The group includes executives from Goldman Sachs Group Inc., BlackRock Inc. and Pacific Investment Management Co., among other large banks and money managers. “TBAC says we want this level of maturity,” Beckworth says, “and Treasury is sensitive to the market’s need.”\nCertainly, any effort to shorten maturities or do away with long bonds entirely would receive pushback from liability-driven investors like pension funds and insurance companies. But remember, Treasury apparently didn’t find enough demand from these institutions for a 50-year maturity, which is why it settled for bringing back 20-year bonds instead. Besides, any move by the federal government to suspend 10-year or 30-year securities wouldn’t stop investment-grade companies from issuing such debt. State and local governments could also lock in lower borrowing costs with long-term taxable or tax-exempt bonds. It’s not as if all duration would disappear from the financial markets.\nTo be clear, I don’t expect Yellen’s Treasury would entertain doing away with long-term borrowing entirely. It’s simply too confusing for many people to think of the federal government as anything other than a business that should strive to lock in historically low long-term borrowing costs, even if in reality there’s no reason to think that the world’s largest economy and issuer of the global reserve currency couldn’t just roll over short-term debt time and again. At best, Treasury may consider scaling back its average maturity if yield curves continue to steepen as they have in recent months.\nRather, it’s a reminder that bond traders pushing the 10-year yield higher isn’t some sort of existential crisis. Yes, it’s a global borrowing benchmark and is used as a risk-free rate to value a range of financial assets. But it wouldn’t take all that much for Powell and Yellen to simply turn the entire yield curve into something resembling the overnight rate set by the Fed. With that kind of power, it’s little wonder that they tune out the day-to-day tantrums.","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327817204,"gmtCreate":1616076158808,"gmtModify":1704790611208,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>555!!","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>555!!","text":"$Palantir Technologies Inc.(PLTR)$555!!","images":[{"img":"https://static.tigerbbs.com/c8485a82d0cf39b6a70eecd33473517c","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/327817204","isVote":1,"tweetType":1,"viewCount":261,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":349352015,"gmtCreate":1617551006837,"gmtModify":1704700378430,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Amazing&nbsp;","listText":"Amazing&nbsp;","text":"Amazing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/349352015","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":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354092411,"gmtCreate":1617111506533,"gmtModify":1704695980202,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>let me in","listText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>let me in","text":"$Riot Blockchain, Inc.(RIOT)$let me in","images":[{"img":"https://static.tigerbbs.com/5a31f9fea564c8617c27ffe4c821ac4b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/354092411","isVote":1,"tweetType":1,"viewCount":122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":353393102,"gmtCreate":1616459520606,"gmtModify":1704794321527,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Like comment","listText":"Like comment","text":"Like comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/353393102","repostId":"2121817206","repostType":4,"repost":{"id":"2121817206","kind":"highlight","pubTimestamp":1616484395,"share":"https://ttm.financial/m/news/2121817206?lang=&edition=fundamental","pubTime":"2021-03-23 15:26","market":"us","language":"en","title":"Bitcoin, crypto investors will be watching these 5 questions facing the Biden administration","url":"https://stock-news.laohu8.com/highlight/detail?id=2121817206","media":"MarketWatch","summary":"Investors may look forward to bitcoin ETFs, but also stricter rules on money laundering and financia","content":"<p>Investors may look forward to bitcoin ETFs, but also stricter rules on money laundering and financial stability</p><p>The stock market’s recovery from last year’s COVID-driven crash is a testament to the unprecedented level of federal stimulus pumped into the economy over the past twelve months, but few asset classes have benefitted from a rebound in financial markets more than cryptocurrencies.</p><p>Bitcoin&nbsp;has risen a staggering 548% during the past twelve months, while Ethereum,the second most valuable cryptocurrency, has gained roughly 690% during that time, according to FactSet, compared to a 71% rise for the S&amp;P 500. But the fate of this rally could depend greatly on President Joe Biden and his administration’s regulatory stance to the burgeoning crypto economy, experts tell MarketWatch. Here are the five biggest regulatory questions the Biden administration will face in the coming months and years that will greatly impact cyrpto investors:</p><p><b>Who will be the Comptroller of the Currency?</b></p><p>The agency in charge of chartering and supervising national banks is typically one of the more obscure federal financial regulators. But OCC has caught the attention of the crypto community through its championing of integration between the crypto economy and the legacy financial system under the brief leadership of former Acting Comptroller of the Currency Brian Brooks, said Jackson Mueller, director of policy and government relations at the crypto consultancy Securrency.</p><p>During his eight months as acting comptroller, Brooks issued issued several guidance letters affirming the ability of nationally chartered banks to serve as&nbsp;custodians of crypto assetsand use a type of cryptocurrency called a stablecoin to make payments, among other issues. “The big issue is what happens to the guidance issued by Brooks and his team when someone else comes in,” Mueller told MarketWatch. “Do they go in a completely opposite direction and rescind that guidance?”</p><p>Stablecoins are a type of cryptocurrency that pegs its value to some other asset. The most popular is Tether, pegged to the U.S. dollar. The crypto community is fond of these instruments because they facilitate transactions between highly volatile digital currencies —some analysts arguethat Bitcoin’s rally has been enabled by aggressive issuance of new Tether tokens.</p><p>Unlike currencies like Bitcoin and Ether, however, stablecoins are often not decentralized, but run by single companies and backed by assets held by traditional banks. Brooks’ guidance serves to give federally chartered banks the go-ahead to be a custodian for stablecoins and to use them for their own payments.</p><p>The crypto community&nbsp;was excited&nbsp;at reports that Biden would name Michael Barr, who served at the Treasury Department during the Obama administration, as comptroller. Barr had ties to several fintech companies and he served on an advisory board at Ripple, issuer of the eponymous cryptocurrency.But Barr is reportedly&nbsp;no longer in contention&nbsp;for the job after progressives in the administration protested.</p><p>Law professor Mehrsa Baradaran, an expert on the racial wealth gap, has emerged as the odds-on favorite to win the role, and crypto investors are less enthused about this pick, given the skepticism she has shown toward cryptocurrencies in the past.</p><p>“While I share many of the cryptocurrency industry’s concerns with respect to failures of the banking industry, I do not believe cryptocurrency is the best solution to the problems of financial inclusion and equity in banking,” Baradaran&nbsp;told the Senate Banking Committee in 2019, arguing instead that Congress should task the Federal Reserve with setting up a digital payments infrastructure available to all Americans.</p><p><b>Are cryptocurrencies a threat to financial stability</b>?</p><p>The OCC will not be the only financial regulator concerned with the use of stablecoins, given the growing number of observers who claim that these instruments have enabled the growth of a new “shadow” banking system that threatens the stability of the U.S. financial system.</p><p>Democratic Rep. Rashida Tlaib of Michigan&nbsp;recently proposed a bill&nbsp;that would require issuers of stablecoins to obtain a banking charter and obtain Federal Deposit Insurance Corporation insurance or keep reserves at the Federal Reserve “to ensure that all stablecoins can be readily converted into United States dollars, on demand.”</p><p>Rohan Grey, president of the Modern Money Network, who helped craft the bill, has likened stablecoins to money market mutual funds, which came under great stress during the 2008 financial crisis.</p><p>“We were looking at history of shadow banking and the examples in which entities… would claim they’d invented an instrument that walked and talked like money, that could be used like money, could be considered roughly as safe and stable as money in most circumstances,” Grey&nbsp;told The Block&nbsp;in December. “But then at moments of crises those claims turned out to be hollow, they became a massive source of systemic risk and inevitably they’d be bailed out in the name of protecting consumers. The effect of that was to privatize gains to socialize losses.”</p><p>This issue of financial stability means that other regulators, including the Federal Reserve and the Treasury Department, may look to regulate stablecoins in the years to come.</p><p><b>How will the government curb crypto money laundering?</b></p><p>The most immediate regulatory issue that crypto investors will have to face is an impending decision by the Financial Crimes Enforcement Network — a Treasury Department unit tasked with fighting money laundering and other financial crimes — on new requirements for banks and other intermediaries to maintain records and verify customer identities for certain crypto transactions.</p><p>Jerry Brito of the think tank Coin Center says that in the waning days of the Trump administration, Treasury attempted to fast track new rules that were “ill considered.” New requirements would have enabled the government to learn the owners of private crypto wallets and therefore their entire transaction history, even if that person had done nothing suspicious.</p><p>“Since the Biden administration has come in, they’ve been more deferential to FinCen, who I don’t think ever really wanted this as much as [former Treasury Secretary] Steve Mnuchin did,” he said, adding that law enforcement was wary the rules would encourage criminals to refrain from transacting with U.S.-based exchanges that are known to cooperate with criminal investigations. “The Biden administration will take a more rational approach going forward,” said Brito, who is Coin Center’s executive director.</p><p><b>What will happen with the Ripple lawsuit?</b></p><p>Gary Gensler, who is expected to be confirmed as chairman of the Securities and Exchange Commission, will have many crypto-related issues to deal with — not least of which is a lawsuit filed in December against Ripple by the SEC.</p><p>In its complaint, the SEC accused Ripple and its executives Brad Garlinghouse and Christian Larsen of selling more than $1 billion in digital currency without registering with the SEC. While SEC officials have said publicly that they don’t believe Bitcoin or Ethereum are securities that must be registered, the lawsuit indicates that the SEC views Ripple differently.</p><p>“I’ve been surprised that the suit wasn’t filed a long time ago because Ripple is very different from Bitcoin or Ethereum,” Angela Walch, law professor and cryptocurrency expert at St. Mary’s School of Law, told MarketWatch. “It’s not truly a decentralized currency because you’ve had a single company essentially running it.”</p><p>If the SEC is victorious in its suit, that will go a long way in helping define what types of digital assets will be viewed as currencies and which will be viewed as securities, Walch added.</p><p><b>Will the SEC approve bitcoin ETFs</b>?</p><p>Crypto enthusiasts cheered Gensler’s nomination to lead the SEC, given his history of teaching blockchain and digital currencies at MIT’s Sloan School of Management. Coin Center’s Brito argued that his accession to the role of chairman will be good news for the many financial services firms attempting to sell Bitcoin exchange-traded funds.</p><p>Several major financial services firms have submitted applications to offer bitcoin ETFs, incluind Wisdom Tree, Morgan Stanley&nbsp;and VanEck. Theoretically, investors might prefer bitcoin ETFs because purchasing actual bitcoin can be a hassle, as investors have to set up digital wallets or move money on to a crypto exchange. These ETFs, however, could be bought and sold much like traditional stocks.</p><p>“Gary Gensler is somebody who likes orderly markets,” Brito said. “What a better way of allowing investors to participate in this asset class in an orderly way than having a well-regulated ETF.”</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin, crypto investors will be watching these 5 questions facing the Biden administration</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\">\nBitcoin, crypto investors will be watching these 5 questions facing the Biden administration\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-23 15:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/bitcoin-crypto-investors-will-be-watching-these-5-questions-facing-the-biden-administration-11616442245?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors may look forward to bitcoin ETFs, but also stricter rules on money laundering and financial stabilityThe stock market’s recovery from last year’s COVID-driven crash is a testament to the ...</p>\n\n<a href=\"https://www.marketwatch.com/story/bitcoin-crypto-investors-will-be-watching-these-5-questions-facing-the-biden-administration-11616442245?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":{"GBTC":"Grayscale Bitcoin Trust","TSLA":"特斯拉","PYPL":"PayPal","SQ":"Block"},"source_url":"https://www.marketwatch.com/story/bitcoin-crypto-investors-will-be-watching-these-5-questions-facing-the-biden-administration-11616442245?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2121817206","content_text":"Investors may look forward to bitcoin ETFs, but also stricter rules on money laundering and financial stabilityThe stock market’s recovery from last year’s COVID-driven crash is a testament to the unprecedented level of federal stimulus pumped into the economy over the past twelve months, but few asset classes have benefitted from a rebound in financial markets more than cryptocurrencies.Bitcoin has risen a staggering 548% during the past twelve months, while Ethereum,the second most valuable cryptocurrency, has gained roughly 690% during that time, according to FactSet, compared to a 71% rise for the S&P 500. But the fate of this rally could depend greatly on President Joe Biden and his administration’s regulatory stance to the burgeoning crypto economy, experts tell MarketWatch. Here are the five biggest regulatory questions the Biden administration will face in the coming months and years that will greatly impact cyrpto investors:Who will be the Comptroller of the Currency?The agency in charge of chartering and supervising national banks is typically one of the more obscure federal financial regulators. But OCC has caught the attention of the crypto community through its championing of integration between the crypto economy and the legacy financial system under the brief leadership of former Acting Comptroller of the Currency Brian Brooks, said Jackson Mueller, director of policy and government relations at the crypto consultancy Securrency.During his eight months as acting comptroller, Brooks issued issued several guidance letters affirming the ability of nationally chartered banks to serve as custodians of crypto assetsand use a type of cryptocurrency called a stablecoin to make payments, among other issues. “The big issue is what happens to the guidance issued by Brooks and his team when someone else comes in,” Mueller told MarketWatch. “Do they go in a completely opposite direction and rescind that guidance?”Stablecoins are a type of cryptocurrency that pegs its value to some other asset. The most popular is Tether, pegged to the U.S. dollar. The crypto community is fond of these instruments because they facilitate transactions between highly volatile digital currencies —some analysts arguethat Bitcoin’s rally has been enabled by aggressive issuance of new Tether tokens.Unlike currencies like Bitcoin and Ether, however, stablecoins are often not decentralized, but run by single companies and backed by assets held by traditional banks. Brooks’ guidance serves to give federally chartered banks the go-ahead to be a custodian for stablecoins and to use them for their own payments.The crypto community was excited at reports that Biden would name Michael Barr, who served at the Treasury Department during the Obama administration, as comptroller. Barr had ties to several fintech companies and he served on an advisory board at Ripple, issuer of the eponymous cryptocurrency.But Barr is reportedly no longer in contention for the job after progressives in the administration protested.Law professor Mehrsa Baradaran, an expert on the racial wealth gap, has emerged as the odds-on favorite to win the role, and crypto investors are less enthused about this pick, given the skepticism she has shown toward cryptocurrencies in the past.“While I share many of the cryptocurrency industry’s concerns with respect to failures of the banking industry, I do not believe cryptocurrency is the best solution to the problems of financial inclusion and equity in banking,” Baradaran told the Senate Banking Committee in 2019, arguing instead that Congress should task the Federal Reserve with setting up a digital payments infrastructure available to all Americans.Are cryptocurrencies a threat to financial stability?The OCC will not be the only financial regulator concerned with the use of stablecoins, given the growing number of observers who claim that these instruments have enabled the growth of a new “shadow” banking system that threatens the stability of the U.S. financial system.Democratic Rep. Rashida Tlaib of Michigan recently proposed a bill that would require issuers of stablecoins to obtain a banking charter and obtain Federal Deposit Insurance Corporation insurance or keep reserves at the Federal Reserve “to ensure that all stablecoins can be readily converted into United States dollars, on demand.”Rohan Grey, president of the Modern Money Network, who helped craft the bill, has likened stablecoins to money market mutual funds, which came under great stress during the 2008 financial crisis.“We were looking at history of shadow banking and the examples in which entities… would claim they’d invented an instrument that walked and talked like money, that could be used like money, could be considered roughly as safe and stable as money in most circumstances,” Grey told The Block in December. “But then at moments of crises those claims turned out to be hollow, they became a massive source of systemic risk and inevitably they’d be bailed out in the name of protecting consumers. The effect of that was to privatize gains to socialize losses.”This issue of financial stability means that other regulators, including the Federal Reserve and the Treasury Department, may look to regulate stablecoins in the years to come.How will the government curb crypto money laundering?The most immediate regulatory issue that crypto investors will have to face is an impending decision by the Financial Crimes Enforcement Network — a Treasury Department unit tasked with fighting money laundering and other financial crimes — on new requirements for banks and other intermediaries to maintain records and verify customer identities for certain crypto transactions.Jerry Brito of the think tank Coin Center says that in the waning days of the Trump administration, Treasury attempted to fast track new rules that were “ill considered.” New requirements would have enabled the government to learn the owners of private crypto wallets and therefore their entire transaction history, even if that person had done nothing suspicious.“Since the Biden administration has come in, they’ve been more deferential to FinCen, who I don’t think ever really wanted this as much as [former Treasury Secretary] Steve Mnuchin did,” he said, adding that law enforcement was wary the rules would encourage criminals to refrain from transacting with U.S.-based exchanges that are known to cooperate with criminal investigations. “The Biden administration will take a more rational approach going forward,” said Brito, who is Coin Center’s executive director.What will happen with the Ripple lawsuit?Gary Gensler, who is expected to be confirmed as chairman of the Securities and Exchange Commission, will have many crypto-related issues to deal with — not least of which is a lawsuit filed in December against Ripple by the SEC.In its complaint, the SEC accused Ripple and its executives Brad Garlinghouse and Christian Larsen of selling more than $1 billion in digital currency without registering with the SEC. While SEC officials have said publicly that they don’t believe Bitcoin or Ethereum are securities that must be registered, the lawsuit indicates that the SEC views Ripple differently.“I’ve been surprised that the suit wasn’t filed a long time ago because Ripple is very different from Bitcoin or Ethereum,” Angela Walch, law professor and cryptocurrency expert at St. Mary’s School of Law, told MarketWatch. “It’s not truly a decentralized currency because you’ve had a single company essentially running it.”If the SEC is victorious in its suit, that will go a long way in helping define what types of digital assets will be viewed as currencies and which will be viewed as securities, Walch added.Will the SEC approve bitcoin ETFs?Crypto enthusiasts cheered Gensler’s nomination to lead the SEC, given his history of teaching blockchain and digital currencies at MIT’s Sloan School of Management. Coin Center’s Brito argued that his accession to the role of chairman will be good news for the many financial services firms attempting to sell Bitcoin exchange-traded funds.Several major financial services firms have submitted applications to offer bitcoin ETFs, incluind Wisdom Tree, Morgan Stanley and VanEck. Theoretically, investors might prefer bitcoin ETFs because purchasing actual bitcoin can be a hassle, as investors have to set up digital wallets or move money on to a crypto exchange. These ETFs, however, could be bought and sold much like traditional stocks.“Gary Gensler is somebody who likes orderly markets,” Brito said. “What a better way of allowing investors to participate in this asset class in an orderly way than having a well-regulated ETF.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":29,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321778168,"gmtCreate":1615473293654,"gmtModify":1704783272936,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/321778168","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":{".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":"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":58,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":199078213,"gmtCreate":1620659162632,"gmtModify":1704346351806,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>looks great really great couldn't be greater","listText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>looks great really great couldn't be greater","text":"$Riot Blockchain, Inc.(RIOT)$looks great really great couldn't be greater","images":[{"img":"https://static.tigerbbs.com/0b8e46abc46d10d1845e9c76e8da93af","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/199078213","isVote":1,"tweetType":1,"viewCount":617,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":342098188,"gmtCreate":1618122859144,"gmtModify":1704706818430,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Comment like","listText":"Comment like","text":"Comment like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/342098188","repostId":"1142324412","repostType":4,"repost":{"id":"1142324412","kind":"news","pubTimestamp":1617982207,"share":"https://ttm.financial/m/news/1142324412?lang=&edition=fundamental","pubTime":"2021-04-09 23:30","market":"us","language":"en","title":"XPeng Inc.: A Reawakening","url":"https://stock-news.laohu8.com/highlight/detail?id=1142324412","media":"seekingalpha","summary":"Valuation is middling but not overvalued like in the past.Recent announcement of capacity expansion in Wuhan lends better operational and sales visibility.Company could breakeven and finally reach positive profits soon; major improvements seen in operating margins.Feared chip shortage  was not a disaster, deliveries are still strong.Government support, China's creation of an EV ecosystem.XPEV's strong deliveries describe not only excellent support from the private sector, but also the Chinese go","content":"<p><b>Summary</b></p>\n<ul>\n <li>Valuation is middling but not overvalued like in the past.</li>\n <li>Recent announcement of capacity expansion in Wuhan lends better operational and sales visibility.</li>\n <li>Company could breakeven and finally reach positive profits soon; major improvements seen in operating margins.</li>\n <li>Feared chip shortage (i.e. supply disruption) was not a disaster, deliveries are still strong.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4e0f3343d69719839f9b8f1d337c3984\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Robert Way/iStock Editorial via Getty Images</span></p>\n<p><b>Introduction</b></p>\n<p>The stock price of&nbsp;XPEV&nbsp;has been converging with the performance of the S&amp;P 500 since March 2021, as compared to its massive outperformance in 4Q2020. This could be view positively or negatively. On the bright side, this suggests that price performance would become more predictable with lower volatility, indicative of a broadening consensus on the fundamental prospects of the company. On the other hand, traders may be disappointed its lack of momentum. Therefore, this is probably a good time to stop viewing XPEV as purely a trade, but re-analyze its merits as a fundamentally-driven investment.</p>\n<p><i>The frenetic performance of XPEV has calmed down in recent weeks, allowing its one year performance to track the S&amp;P 500 more closely</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9f04001d604ecc7892ef3a76c498578b\" tg-width=\"640\" tg-height=\"236\"><span>Source: SeekingAlpha</span></p>\n<p><i>XPEV's G3 Super Long Range Smart SUV</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/68446a741f9f97afc10f2149c4e13e13\" tg-width=\"640\" tg-height=\"388\"><span>Source: XPeng Motors (G3、P7) Intelligent electric car with Internet DNA</span></p>\n<p><b>Industry and commercial positives</b></p>\n<p>Optimism on EVs and&nbsp;strong industry growth&nbsp;rates are common knowledge by now. The following points suggest specific positives for XPEV that remain intact despite relatively ebbing momentum on the stock's price (as compared to 4Q2020):</p>\n<ol>\n <li><b>Deliveries met despite fears on chip shortage.</b>While the stock's price momentum appears to have ebbed, recent news continues to remain positive. At an industry level, Chinese vehicle manufacturers XPEV andNIOmanaged to manufacture the expected numbers of vehicle deliveries, despite much feared chip shortages.XPEV chalked&nbsp;in record quarterly deliveries of 13,340 EVs in Q1 2021, +487% over the year and +130% over the month in March.NIO delivered&nbsp;20,060 +423% over the year while Q1 deliveries rose 15.6% to 20,060. The challenge these EV manufacturers face now is not so much the ability to deliver on its numbers, but on being able to meet high expectations for the stock price to gain further traction.</li>\n <li><b>Government support, China's creation of an EV ecosystem.</b>XPEV's strong deliveries describe not only excellent support from the private sector, but also the Chinese government's push to develop this part of its industry. XPEV has entered into an agreement with the city of Wuhan to build a factory with a capacity of 100,000 EV units. This is a very significant piece of news, considering its deliveries of just 5,102 in March 2021. Annualizing this number, the new capacity will be more than the whole of XPEV's total historical annual production. This news is interesting and significant since it was just released this week, suggesting it may have yet to be factored into analysts' forecast numbers. This is made more important as XPEV has always been considered a laggard in production capabilities to its larger cousin NIO. General Chinese government support for the EV ecosystem is strong, and the new facility in Wuhan echoes earlier provincial government financial support ($77m) in Guangdong. The reality is, for EVs to gain traction, government willingness to support infrastructure initiatives are highly important (e.g. permits for charging stations, creating incentives to convert from old polluting vehicles to green vehicles, etc.). With China's tradition of central planning, the EV ecosystem is placed on the right footing.</li>\n <li><b>Listing in Hong Kong adds to investor base and liquidity.</b>Going forward,XPEV,NIO, and&nbsp;LI&nbsp;intend tolistin Hong Kong this year. This is a strategic move, and makes the valuation of these companies less susceptible by US political bashing (e.g. the threat of being de-listed) should it occur, since it reflects a wider geographical base. The valuations of these companies may even get a boost given greater global liquidity due to added trading in the Asian time zone.</li>\n</ol>\n<p>Of note, in late March, XPEV held an&nbsp;autonomous driving expedition&nbsp;covering eight cities in China and 3,675 kilometers. The exercise was successful, as minimal human intervention was needed during the expedition and adds another brownie point to XPEV's research and development efforts, placing XPEV on the&nbsp;competitive landscape&nbsp;against rivals such as TSLA and NIO on autonomous driving. Apparently, XPEV's autonomous driving results&nbsp;performed better&nbsp;than TSLA's with fewer human interventions per 100km and better navigation in complex situations.</p>\n<p><b>XPEV's improving financials</b></p>\n<p>Now that we have several quarters of financial data on XPEV, it is worth reviewing how its metrics have been performing. Firstly, market expectations aside, deliveries have been very good as abovementioned, and this is flowing through to revenue numbers. As shown in the below table, growth has been very strong, and revenues are expected to more than double in 2021 and continue to double in 2022. Such growth rates place XPEV at the top end of manufacturing firms, as expected of the fast-growing EV market.</p>\n<p>Another point to note is the improvement in operating margins. As with any \"new tech\" company, initial investments would cause hugely negative operating margins in the beginning. What's important is the company's ability to improve margins and reduce costs over time. In this respect, XPEV has done a good job, with operating margins improving sequentially each quarter. Of note, operating margins started to see major improvements between the Jun-2020 (-142%) and Dec-2020 (-39%) quarters as shown in the table below. Given this trend, the company is likely to breakeven and register positive profits soon, which could be a catalytic re-rating for XPEV. When we pair this analysis with the stock price, it appears that XPEV's recently soft stock price performance is not justified.</p>\n<p>Meanwhile, the balance sheet is expected to remain strong. Equity to total liabilities &amp; equity is 23% as at Dec-2020. As abovementioned, further capital raises with a forthcoming Hong Kong listing will add to XPEV's cash buffer.</p>\n<p><i>XPEV's performance improvement in both revenue and operating margin trends appear to have been ignored by the market due to recent the broad market capitulation</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f8258dce0cc10e8118a23afce7655bed\" tg-width=\"726\" tg-height=\"737\"><span>*EST = estimate by analysts' consensus from SeekingAlpha</span></p>\n<p><b>XPEV's valuation: somewhere in the middle</b></p>\n<p>XPEV's stock price has done well over the last 6 months versus peers. On a TTM P/S, XPEV is near the middle although its FWD P/S is trading at a premium. However, there could be a general re-rating of the P/S of the sector if the Chinese EV manufacturers reach breakeven in 2021 and record positive profits (our base case belief, given the prevailing trend in XPEV's improving operating margins). This will then allow better price discovery when the companies can then be valued on their P/E ratios.</p>\n<img src=\"https://static.tigerbbs.com/fa975ce545e950a20f809bcc7f698ef6\" tg-width=\"911\" tg-height=\"594\">\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p><b>Conclusion and Risks</b></p>\n<p>XPEV's stock price may benefit from two key catalysts: (1) expansion of manufacturing facility in Wuhan, which will concretely raise visibility of revenue growth which is expected to double; (2) a valuation regime change as it progresses from a loss making company to a profitable one, expected by this year. Furthermore, it is worth noting that the valuation is not lofty as compared to price levels in 4Q2020, having fallen over the last couple of months.</p>\n<p>Competition may exist and remain intense, but given the large size of China's market and that there are only a couple of notable players (i.e. NIO, LI), the market remains largely an oligopoly which allows XPEV to retain pricing power.</p>\n<p>Much feared risks of execution in the past appear to have materialized but not in a big way, i.e. the previously expected chip shortage. Given the progression to a post-COVID economy, supply chain links should improve and reduce similar risks in the future.</p>\n<p>On a standalone basis, XPEV's prospects appear bright, and now the key hurdle is whether the NASDAQ will find momentum and exceed previous highs. The base case for this should lean towards the positive as the market is merely in the first year of the economic recovery after the pandemic. Recent price consolidation appears to have created a technical setup for a reawakening of price momentum as consumer activity revives post-pandemic.</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>XPeng Inc.: A Reawakening</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\">\nXPeng Inc.: A Reawakening\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4418326-xpeng-inc-reawakening><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nValuation is middling but not overvalued like in the past.\nRecent announcement of capacity expansion in Wuhan lends better operational and sales visibility.\nCompany could breakeven and ...</p>\n\n<a href=\"https://seekingalpha.com/article/4418326-xpeng-inc-reawakening\">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://seekingalpha.com/article/4418326-xpeng-inc-reawakening","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1142324412","content_text":"Summary\n\nValuation is middling but not overvalued like in the past.\nRecent announcement of capacity expansion in Wuhan lends better operational and sales visibility.\nCompany could breakeven and finally reach positive profits soon; major improvements seen in operating margins.\nFeared chip shortage (i.e. supply disruption) was not a disaster, deliveries are still strong.\n\nPhoto by Robert Way/iStock Editorial via Getty Images\nIntroduction\nThe stock price of XPEV has been converging with the performance of the S&P 500 since March 2021, as compared to its massive outperformance in 4Q2020. This could be view positively or negatively. On the bright side, this suggests that price performance would become more predictable with lower volatility, indicative of a broadening consensus on the fundamental prospects of the company. On the other hand, traders may be disappointed its lack of momentum. Therefore, this is probably a good time to stop viewing XPEV as purely a trade, but re-analyze its merits as a fundamentally-driven investment.\nThe frenetic performance of XPEV has calmed down in recent weeks, allowing its one year performance to track the S&P 500 more closely\nSource: SeekingAlpha\nXPEV's G3 Super Long Range Smart SUV\nSource: XPeng Motors (G3、P7) Intelligent electric car with Internet DNA\nIndustry and commercial positives\nOptimism on EVs and strong industry growth rates are common knowledge by now. The following points suggest specific positives for XPEV that remain intact despite relatively ebbing momentum on the stock's price (as compared to 4Q2020):\n\nDeliveries met despite fears on chip shortage.While the stock's price momentum appears to have ebbed, recent news continues to remain positive. At an industry level, Chinese vehicle manufacturers XPEV andNIOmanaged to manufacture the expected numbers of vehicle deliveries, despite much feared chip shortages.XPEV chalked in record quarterly deliveries of 13,340 EVs in Q1 2021, +487% over the year and +130% over the month in March.NIO delivered 20,060 +423% over the year while Q1 deliveries rose 15.6% to 20,060. The challenge these EV manufacturers face now is not so much the ability to deliver on its numbers, but on being able to meet high expectations for the stock price to gain further traction.\nGovernment support, China's creation of an EV ecosystem.XPEV's strong deliveries describe not only excellent support from the private sector, but also the Chinese government's push to develop this part of its industry. XPEV has entered into an agreement with the city of Wuhan to build a factory with a capacity of 100,000 EV units. This is a very significant piece of news, considering its deliveries of just 5,102 in March 2021. Annualizing this number, the new capacity will be more than the whole of XPEV's total historical annual production. This news is interesting and significant since it was just released this week, suggesting it may have yet to be factored into analysts' forecast numbers. This is made more important as XPEV has always been considered a laggard in production capabilities to its larger cousin NIO. General Chinese government support for the EV ecosystem is strong, and the new facility in Wuhan echoes earlier provincial government financial support ($77m) in Guangdong. The reality is, for EVs to gain traction, government willingness to support infrastructure initiatives are highly important (e.g. permits for charging stations, creating incentives to convert from old polluting vehicles to green vehicles, etc.). With China's tradition of central planning, the EV ecosystem is placed on the right footing.\nListing in Hong Kong adds to investor base and liquidity.Going forward,XPEV,NIO, and LI intend tolistin Hong Kong this year. This is a strategic move, and makes the valuation of these companies less susceptible by US political bashing (e.g. the threat of being de-listed) should it occur, since it reflects a wider geographical base. The valuations of these companies may even get a boost given greater global liquidity due to added trading in the Asian time zone.\n\nOf note, in late March, XPEV held an autonomous driving expedition covering eight cities in China and 3,675 kilometers. The exercise was successful, as minimal human intervention was needed during the expedition and adds another brownie point to XPEV's research and development efforts, placing XPEV on the competitive landscape against rivals such as TSLA and NIO on autonomous driving. Apparently, XPEV's autonomous driving results performed better than TSLA's with fewer human interventions per 100km and better navigation in complex situations.\nXPEV's improving financials\nNow that we have several quarters of financial data on XPEV, it is worth reviewing how its metrics have been performing. Firstly, market expectations aside, deliveries have been very good as abovementioned, and this is flowing through to revenue numbers. As shown in the below table, growth has been very strong, and revenues are expected to more than double in 2021 and continue to double in 2022. Such growth rates place XPEV at the top end of manufacturing firms, as expected of the fast-growing EV market.\nAnother point to note is the improvement in operating margins. As with any \"new tech\" company, initial investments would cause hugely negative operating margins in the beginning. What's important is the company's ability to improve margins and reduce costs over time. In this respect, XPEV has done a good job, with operating margins improving sequentially each quarter. Of note, operating margins started to see major improvements between the Jun-2020 (-142%) and Dec-2020 (-39%) quarters as shown in the table below. Given this trend, the company is likely to breakeven and register positive profits soon, which could be a catalytic re-rating for XPEV. When we pair this analysis with the stock price, it appears that XPEV's recently soft stock price performance is not justified.\nMeanwhile, the balance sheet is expected to remain strong. Equity to total liabilities & equity is 23% as at Dec-2020. As abovementioned, further capital raises with a forthcoming Hong Kong listing will add to XPEV's cash buffer.\nXPEV's performance improvement in both revenue and operating margin trends appear to have been ignored by the market due to recent the broad market capitulation\n*EST = estimate by analysts' consensus from SeekingAlpha\nXPEV's valuation: somewhere in the middle\nXPEV's stock price has done well over the last 6 months versus peers. On a TTM P/S, XPEV is near the middle although its FWD P/S is trading at a premium. However, there could be a general re-rating of the P/S of the sector if the Chinese EV manufacturers reach breakeven in 2021 and record positive profits (our base case belief, given the prevailing trend in XPEV's improving operating margins). This will then allow better price discovery when the companies can then be valued on their P/E ratios.\n\n\n\n\n\n\nConclusion and Risks\nXPEV's stock price may benefit from two key catalysts: (1) expansion of manufacturing facility in Wuhan, which will concretely raise visibility of revenue growth which is expected to double; (2) a valuation regime change as it progresses from a loss making company to a profitable one, expected by this year. Furthermore, it is worth noting that the valuation is not lofty as compared to price levels in 4Q2020, having fallen over the last couple of months.\nCompetition may exist and remain intense, but given the large size of China's market and that there are only a couple of notable players (i.e. NIO, LI), the market remains largely an oligopoly which allows XPEV to retain pricing power.\nMuch feared risks of execution in the past appear to have materialized but not in a big way, i.e. the previously expected chip shortage. Given the progression to a post-COVID economy, supply chain links should improve and reduce similar risks in the future.\nOn a standalone basis, XPEV's prospects appear bright, and now the key hurdle is whether the NASDAQ will find momentum and exceed previous highs. The base case for this should lean towards the positive as the market is merely in the first year of the economic recovery after the pandemic. Recent price consolidation appears to have created a technical setup for a reawakening of price momentum as consumer activity revives post-pandemic.","news_type":1},"isVote":1,"tweetType":1,"viewCount":96,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323707976,"gmtCreate":1615372484395,"gmtModify":1704781811285,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Gme","listText":"Gme","text":"Gme","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/323707976","repostId":"2118093678","repostType":4,"repost":{"id":"2118093678","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1615370580,"share":"https://ttm.financial/m/news/2118093678?lang=&edition=fundamental","pubTime":"2021-03-10 18:03","market":"hk","language":"en","title":"How these teens are having fun in today's stock market, and, for the most part, making money","url":"https://stock-news.laohu8.com/highlight/detail?id=2118093678","media":"Dow Jones","summary":"A star athlete, a Warren Buffett enthusiast and a pair of TikTokers tell their stories.\n\nA year ago,","content":"<blockquote>\n A star athlete, a Warren Buffett enthusiast and a pair of TikTokers tell their stories.\n</blockquote>\n<p>A year ago, as the stock market buckled under weight of the emerging COVID-19 pandemic and many investors dived for cover, Christon \"The Truth\" Jones snapped up Tesla shares, the savviest move of the eighth-grader's five-year trading career.</p>\n<p>Stock in the electric-car maker <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> tumbled to around $72 in those dark March days but rebounded to nearly $300 by July. Jones, who shares an account with his mother, Janel Jones, had tucked away that purchase and forgotten it.</p>\n<p>\"This was a different account that we hadn't been tracking as much, and when we eventually checked this account we saw how much we were up. I remember my mom called me -- she's like, 'Should we get out? Should we get out?' I said, 'No, no, no, let Tesla ride a little bit,' \" the 14-year-old Atlantan recalls in an interview with MarketWatch.</p>\n<p>In the end, he and his mom netted $78,000 off a single options contract. \"People focus on the money, but it was really because it was <a href=\"https://laohu8.com/S/AONE\">one</a> contract. That was what was amazing to us,\" says Christon's mother, Janel.</p>\n<p>The stock itself is currently at $560, down from its all-time high near $900 in early January.</p>\n<p>He's <a href=\"https://laohu8.com/S/AONE.U\">one</a> of many kid investors out there who seem knowledgeable beyond their years. According to a Deutsche Bank survey supervised by a parent or guardian.</p>\n<p>Jones got his trading bug at 9 years old from a YouTube video, convincing his mom to let him buy a few shares of Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, which he thought would be \"a good long-term investment\" because \"everyone,\" he had observed, uses the online retailer. He funded those early trades with earnings from a book he'd written about bullying in youth sports, \"The Win Within.\"</p>\n<p>He then moved to options, helped by his mom, who used football analogies to explain, and learned alongside him.</p>\n<p>Jones bases his stock picks on \"where the world is going,\" which has led them to companies like electronic-signature group DocuSign <a href=\"https://laohu8.com/S/DOCU\">$(DOCU)$</a> and streaming digital player Roku <a href=\"https://laohu8.com/S/ROKU\">$(ROKU)$</a>, as well as the pharmaceutical and artificial-intelligence spaces -- chip group Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a> is currently on his radar for its \"innovation, specifically its smart cities\" and \"solid numbers.\"</p>\n<p>Jones, whose first love remains football, hopes to one day combine his passions via a hedge fund helping professional athletes manage their money. The honor-roll student and gridiron star offers how-to investing courses through his own company, Return on Investment LLC.</p>\n<p><b>Weekend at Buffett's</b></p>\n<p>Not many teens would make it a point to squeeze legendary investor Warren Buffett into their weekends, but, then, Srivatsan Prakash is no ordinary 17-year-old.</p>\n<p>Described as an \"aspiring fund manager\" on his <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> account co-founder Bill Gates as well as the book \"Rich Dad, Poor Dad\" by entrepreneur Robert Kiyosaki, to learn about their successful strategies.</p>\n<p>The Tell (April 2020):'Rich Dad, Poor Dad' Robert Kiyosaki: Don't save your money! Spend it on the 'best buy for future security'</p>\n<p>The Toronto teen buried his nose in Berkshire's recent annual letter to shareholders and highlighted some big takeaways: \"Never bet against America,\" and everyone makes mistakes.</p>\n<p>Prakash also has an entrepreneurial spirit, funding early trades from a graphic-design business via Instagram. He saw success with his first stock, coffee giant Starbucks <a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>, which he bought in mid-2018 for $53 a share then sold when it hit $87 in mid-2019.</p>\n<p>Of course fortune has shone on U.S. stocks more generally over much of that period. The broad benchmark S&amp;P 500 , for example, has gained 40% since the midpoint of 2018.</p>\n<p>The quick 60% profit from the Starbucks investment led to an early mistake for Prakash. He got overconfident after that trade and began shorting stocks he thought were overvalued, only to end up losing part of his Starbucks profit as the market moved against him. Yet he's grateful for the early fail.</p>\n<p>\"That was sort of my first lesson in bubbles and, you know, not shorting irrationally,\" he says, and it marked the point at which he started using stop losses, which help traders limit trading exposure.</p>\n<p>Prakash says he's currently in the middle of what he calls his best trade, <a href=\"https://laohu8.com/S/RNWK\">RealNetworks</a> (RNWK), best known for its early streaming media technology and now facial-recognition software. Those shares have been rising since he bought them last year. It falls in a category that he likes: smaller companies ignored by Wall Street.</p>\n<p>Growth potential for microcaps and small-cap stocks often gets overlooked, and the research can be intensive, but \"the rewards are better,\" he says, noting that Buffett has also doled out that advice.</p>\n<p>\"I just find analyzing numbers, and intellectual pursuits as a whole, interesting and exciting,\" says the teen, who dabbles in stocks, options, currencies and bonds, and says his school grades are \"decent.\"</p>\n<p>He currently hosts his own podcast, Market Champions , where he has interviewed famed investor Jim Rogers, among others. He hopes to one day have his own hedge fund and retire at around 35. His advice to aspiring investors? \"Don't go into things you don't understand, and keep reading the great investors, as it is \"a long, long journey.\"</p>\n<p><b>A couple of TikTokers</b></p>\n<p>Teamed with her 17-year-old boyfriend Adi Adara, 19-year-old Parii Bafna is ready to make her mark on a new generation of investors. The young Minneapolis pair has over 800,000 followers and 18.1 million liked videos on their personal-finance-themed TikTok account .</p>\n<p>Adara and Bafna had both gotten hooked on investing years earlier through Virtual Stock Exchange simulation games on MarketWatch's website . Adara says he \"became obsessed and probably spent all my class time trying to choose stocks.\"</p>\n<p>The pair started to step up their investing roughly a year and a half ago -- finding, like many, the pandemic had afforded them additional time for the endeavor. Bafna recently dropped out during her freshman year of college, after finding it too hard to juggle the couple's content-creation business with classes. Affiliate marketing on TikTok is one income stream for them.</p>\n<p>Noting that both sets of parents have been supportive of them, Bafna says she plans to resume her formal education at some point but says she's now \"looking at better opportunities than I would have gotten in college.\"</p>\n<p>The investment frenzy around videogames retailer GameStop <a href=\"https://laohu8.com/S/GME\">$(GME)$</a> and other heavily shorted stocks earlier this year rang some familiar bells for the pair, who had cut their teeth on penny stocks, getting stressed out \"trying to ride all these waves,\" recalls Adara.</p>\n<p>Poor trades include investing in Marathon Oil <a href=\"https://laohu8.com/S/MRO\">$(MRO)$</a> just before the virus hit.</p>\n<p>The young investors now make it a point to scrutinize the long-term cash flows of companies and apply lessons learned from Buffett about interpreting financial statements. \"Does the company have durable competitive advantage?\" is a huge one for them.</p>\n<p>Progenity <a href=\"https://laohu8.com/S/PROG\">$(PROG)$</a>, which works with big companies to offer employee maternity and paternity benefits, is one of their top picks right now. Exchange-traded funds like <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> (ARKK) and SPDR S&amp;P 500 ETF <a href=\"https://laohu8.com/S/SPY.AU\">$(SPY.AU)$</a>, which tracks the benchmark U.S. stock index, have also been paying off in a rising market. They have seen positive returns on investments in tech giants Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a> and Microsoft <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>, while e-commerce group Shopify (SHOP.T), an \"impulsive\" buy from last year, has just started to turn positive, says Bafna.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How these teens are having fun in today's stock market, and, for the most part, making money</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow these teens are having fun in today's stock market, and, for the most part, making money\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-03-10 18:03</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n A star athlete, a Warren Buffett enthusiast and a pair of TikTokers tell their stories.\n</blockquote>\n<p>A year ago, as the stock market buckled under weight of the emerging COVID-19 pandemic and many investors dived for cover, Christon \"The Truth\" Jones snapped up Tesla shares, the savviest move of the eighth-grader's five-year trading career.</p>\n<p>Stock in the electric-car maker <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> tumbled to around $72 in those dark March days but rebounded to nearly $300 by July. Jones, who shares an account with his mother, Janel Jones, had tucked away that purchase and forgotten it.</p>\n<p>\"This was a different account that we hadn't been tracking as much, and when we eventually checked this account we saw how much we were up. I remember my mom called me -- she's like, 'Should we get out? Should we get out?' I said, 'No, no, no, let Tesla ride a little bit,' \" the 14-year-old Atlantan recalls in an interview with MarketWatch.</p>\n<p>In the end, he and his mom netted $78,000 off a single options contract. \"People focus on the money, but it was really because it was <a href=\"https://laohu8.com/S/AONE\">one</a> contract. That was what was amazing to us,\" says Christon's mother, Janel.</p>\n<p>The stock itself is currently at $560, down from its all-time high near $900 in early January.</p>\n<p>He's <a href=\"https://laohu8.com/S/AONE.U\">one</a> of many kid investors out there who seem knowledgeable beyond their years. According to a Deutsche Bank survey supervised by a parent or guardian.</p>\n<p>Jones got his trading bug at 9 years old from a YouTube video, convincing his mom to let him buy a few shares of Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, which he thought would be \"a good long-term investment\" because \"everyone,\" he had observed, uses the online retailer. He funded those early trades with earnings from a book he'd written about bullying in youth sports, \"The Win Within.\"</p>\n<p>He then moved to options, helped by his mom, who used football analogies to explain, and learned alongside him.</p>\n<p>Jones bases his stock picks on \"where the world is going,\" which has led them to companies like electronic-signature group DocuSign <a href=\"https://laohu8.com/S/DOCU\">$(DOCU)$</a> and streaming digital player Roku <a href=\"https://laohu8.com/S/ROKU\">$(ROKU)$</a>, as well as the pharmaceutical and artificial-intelligence spaces -- chip group Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a> is currently on his radar for its \"innovation, specifically its smart cities\" and \"solid numbers.\"</p>\n<p>Jones, whose first love remains football, hopes to one day combine his passions via a hedge fund helping professional athletes manage their money. The honor-roll student and gridiron star offers how-to investing courses through his own company, Return on Investment LLC.</p>\n<p><b>Weekend at Buffett's</b></p>\n<p>Not many teens would make it a point to squeeze legendary investor Warren Buffett into their weekends, but, then, Srivatsan Prakash is no ordinary 17-year-old.</p>\n<p>Described as an \"aspiring fund manager\" on his <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> account co-founder Bill Gates as well as the book \"Rich Dad, Poor Dad\" by entrepreneur Robert Kiyosaki, to learn about their successful strategies.</p>\n<p>The Tell (April 2020):'Rich Dad, Poor Dad' Robert Kiyosaki: Don't save your money! Spend it on the 'best buy for future security'</p>\n<p>The Toronto teen buried his nose in Berkshire's recent annual letter to shareholders and highlighted some big takeaways: \"Never bet against America,\" and everyone makes mistakes.</p>\n<p>Prakash also has an entrepreneurial spirit, funding early trades from a graphic-design business via Instagram. He saw success with his first stock, coffee giant Starbucks <a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>, which he bought in mid-2018 for $53 a share then sold when it hit $87 in mid-2019.</p>\n<p>Of course fortune has shone on U.S. stocks more generally over much of that period. The broad benchmark S&amp;P 500 , for example, has gained 40% since the midpoint of 2018.</p>\n<p>The quick 60% profit from the Starbucks investment led to an early mistake for Prakash. He got overconfident after that trade and began shorting stocks he thought were overvalued, only to end up losing part of his Starbucks profit as the market moved against him. Yet he's grateful for the early fail.</p>\n<p>\"That was sort of my first lesson in bubbles and, you know, not shorting irrationally,\" he says, and it marked the point at which he started using stop losses, which help traders limit trading exposure.</p>\n<p>Prakash says he's currently in the middle of what he calls his best trade, <a href=\"https://laohu8.com/S/RNWK\">RealNetworks</a> (RNWK), best known for its early streaming media technology and now facial-recognition software. Those shares have been rising since he bought them last year. It falls in a category that he likes: smaller companies ignored by Wall Street.</p>\n<p>Growth potential for microcaps and small-cap stocks often gets overlooked, and the research can be intensive, but \"the rewards are better,\" he says, noting that Buffett has also doled out that advice.</p>\n<p>\"I just find analyzing numbers, and intellectual pursuits as a whole, interesting and exciting,\" says the teen, who dabbles in stocks, options, currencies and bonds, and says his school grades are \"decent.\"</p>\n<p>He currently hosts his own podcast, Market Champions , where he has interviewed famed investor Jim Rogers, among others. He hopes to one day have his own hedge fund and retire at around 35. His advice to aspiring investors? \"Don't go into things you don't understand, and keep reading the great investors, as it is \"a long, long journey.\"</p>\n<p><b>A couple of TikTokers</b></p>\n<p>Teamed with her 17-year-old boyfriend Adi Adara, 19-year-old Parii Bafna is ready to make her mark on a new generation of investors. The young Minneapolis pair has over 800,000 followers and 18.1 million liked videos on their personal-finance-themed TikTok account .</p>\n<p>Adara and Bafna had both gotten hooked on investing years earlier through Virtual Stock Exchange simulation games on MarketWatch's website . Adara says he \"became obsessed and probably spent all my class time trying to choose stocks.\"</p>\n<p>The pair started to step up their investing roughly a year and a half ago -- finding, like many, the pandemic had afforded them additional time for the endeavor. Bafna recently dropped out during her freshman year of college, after finding it too hard to juggle the couple's content-creation business with classes. Affiliate marketing on TikTok is one income stream for them.</p>\n<p>Noting that both sets of parents have been supportive of them, Bafna says she plans to resume her formal education at some point but says she's now \"looking at better opportunities than I would have gotten in college.\"</p>\n<p>The investment frenzy around videogames retailer GameStop <a href=\"https://laohu8.com/S/GME\">$(GME)$</a> and other heavily shorted stocks earlier this year rang some familiar bells for the pair, who had cut their teeth on penny stocks, getting stressed out \"trying to ride all these waves,\" recalls Adara.</p>\n<p>Poor trades include investing in Marathon Oil <a href=\"https://laohu8.com/S/MRO\">$(MRO)$</a> just before the virus hit.</p>\n<p>The young investors now make it a point to scrutinize the long-term cash flows of companies and apply lessons learned from Buffett about interpreting financial statements. \"Does the company have durable competitive advantage?\" is a huge one for them.</p>\n<p>Progenity <a href=\"https://laohu8.com/S/PROG\">$(PROG)$</a>, which works with big companies to offer employee maternity and paternity benefits, is one of their top picks right now. Exchange-traded funds like <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> (ARKK) and SPDR S&amp;P 500 ETF <a href=\"https://laohu8.com/S/SPY.AU\">$(SPY.AU)$</a>, which tracks the benchmark U.S. stock index, have also been paying off in a rising market. They have seen positive returns on investments in tech giants Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a> and Microsoft <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>, while e-commerce group Shopify (SHOP.T), an \"impulsive\" buy from last year, has just started to turn positive, says Bafna.</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":"2118093678","content_text":"A star athlete, a Warren Buffett enthusiast and a pair of TikTokers tell their stories.\n\nA year ago, as the stock market buckled under weight of the emerging COVID-19 pandemic and many investors dived for cover, Christon \"The Truth\" Jones snapped up Tesla shares, the savviest move of the eighth-grader's five-year trading career.\nStock in the electric-car maker $(TSLA)$ tumbled to around $72 in those dark March days but rebounded to nearly $300 by July. Jones, who shares an account with his mother, Janel Jones, had tucked away that purchase and forgotten it.\n\"This was a different account that we hadn't been tracking as much, and when we eventually checked this account we saw how much we were up. I remember my mom called me -- she's like, 'Should we get out? Should we get out?' I said, 'No, no, no, let Tesla ride a little bit,' \" the 14-year-old Atlantan recalls in an interview with MarketWatch.\nIn the end, he and his mom netted $78,000 off a single options contract. \"People focus on the money, but it was really because it was one contract. That was what was amazing to us,\" says Christon's mother, Janel.\nThe stock itself is currently at $560, down from its all-time high near $900 in early January.\nHe's one of many kid investors out there who seem knowledgeable beyond their years. According to a Deutsche Bank survey supervised by a parent or guardian.\nJones got his trading bug at 9 years old from a YouTube video, convincing his mom to let him buy a few shares of Amazon $(AMZN)$, which he thought would be \"a good long-term investment\" because \"everyone,\" he had observed, uses the online retailer. He funded those early trades with earnings from a book he'd written about bullying in youth sports, \"The Win Within.\"\nHe then moved to options, helped by his mom, who used football analogies to explain, and learned alongside him.\nJones bases his stock picks on \"where the world is going,\" which has led them to companies like electronic-signature group DocuSign $(DOCU)$ and streaming digital player Roku $(ROKU)$, as well as the pharmaceutical and artificial-intelligence spaces -- chip group Nvidia $(NVDA)$ is currently on his radar for its \"innovation, specifically its smart cities\" and \"solid numbers.\"\nJones, whose first love remains football, hopes to one day combine his passions via a hedge fund helping professional athletes manage their money. The honor-roll student and gridiron star offers how-to investing courses through his own company, Return on Investment LLC.\nWeekend at Buffett's\nNot many teens would make it a point to squeeze legendary investor Warren Buffett into their weekends, but, then, Srivatsan Prakash is no ordinary 17-year-old.\nDescribed as an \"aspiring fund manager\" on his Twitter account co-founder Bill Gates as well as the book \"Rich Dad, Poor Dad\" by entrepreneur Robert Kiyosaki, to learn about their successful strategies.\nThe Tell (April 2020):'Rich Dad, Poor Dad' Robert Kiyosaki: Don't save your money! Spend it on the 'best buy for future security'\nThe Toronto teen buried his nose in Berkshire's recent annual letter to shareholders and highlighted some big takeaways: \"Never bet against America,\" and everyone makes mistakes.\nPrakash also has an entrepreneurial spirit, funding early trades from a graphic-design business via Instagram. He saw success with his first stock, coffee giant Starbucks $(SBUX)$, which he bought in mid-2018 for $53 a share then sold when it hit $87 in mid-2019.\nOf course fortune has shone on U.S. stocks more generally over much of that period. The broad benchmark S&P 500 , for example, has gained 40% since the midpoint of 2018.\nThe quick 60% profit from the Starbucks investment led to an early mistake for Prakash. He got overconfident after that trade and began shorting stocks he thought were overvalued, only to end up losing part of his Starbucks profit as the market moved against him. Yet he's grateful for the early fail.\n\"That was sort of my first lesson in bubbles and, you know, not shorting irrationally,\" he says, and it marked the point at which he started using stop losses, which help traders limit trading exposure.\nPrakash says he's currently in the middle of what he calls his best trade, RealNetworks (RNWK), best known for its early streaming media technology and now facial-recognition software. Those shares have been rising since he bought them last year. It falls in a category that he likes: smaller companies ignored by Wall Street.\nGrowth potential for microcaps and small-cap stocks often gets overlooked, and the research can be intensive, but \"the rewards are better,\" he says, noting that Buffett has also doled out that advice.\n\"I just find analyzing numbers, and intellectual pursuits as a whole, interesting and exciting,\" says the teen, who dabbles in stocks, options, currencies and bonds, and says his school grades are \"decent.\"\nHe currently hosts his own podcast, Market Champions , where he has interviewed famed investor Jim Rogers, among others. He hopes to one day have his own hedge fund and retire at around 35. His advice to aspiring investors? \"Don't go into things you don't understand, and keep reading the great investors, as it is \"a long, long journey.\"\nA couple of TikTokers\nTeamed with her 17-year-old boyfriend Adi Adara, 19-year-old Parii Bafna is ready to make her mark on a new generation of investors. The young Minneapolis pair has over 800,000 followers and 18.1 million liked videos on their personal-finance-themed TikTok account .\nAdara and Bafna had both gotten hooked on investing years earlier through Virtual Stock Exchange simulation games on MarketWatch's website . Adara says he \"became obsessed and probably spent all my class time trying to choose stocks.\"\nThe pair started to step up their investing roughly a year and a half ago -- finding, like many, the pandemic had afforded them additional time for the endeavor. Bafna recently dropped out during her freshman year of college, after finding it too hard to juggle the couple's content-creation business with classes. Affiliate marketing on TikTok is one income stream for them.\nNoting that both sets of parents have been supportive of them, Bafna says she plans to resume her formal education at some point but says she's now \"looking at better opportunities than I would have gotten in college.\"\nThe investment frenzy around videogames retailer GameStop $(GME)$ and other heavily shorted stocks earlier this year rang some familiar bells for the pair, who had cut their teeth on penny stocks, getting stressed out \"trying to ride all these waves,\" recalls Adara.\nPoor trades include investing in Marathon Oil $(MRO)$ just before the virus hit.\nThe young investors now make it a point to scrutinize the long-term cash flows of companies and apply lessons learned from Buffett about interpreting financial statements. \"Does the company have durable competitive advantage?\" is a huge one for them.\nProgenity $(PROG)$, which works with big companies to offer employee maternity and paternity benefits, is one of their top picks right now. Exchange-traded funds like ARK Innovation ETF (ARKK) and SPDR S&P 500 ETF $(SPY.AU)$, which tracks the benchmark U.S. stock index, have also been paying off in a rising market. They have seen positive returns on investments in tech giants Apple $(AAPL)$ and Microsoft $(MSFT)$, while e-commerce group Shopify (SHOP.T), an \"impulsive\" buy from last year, has just started to turn positive, says Bafna.","news_type":1},"isVote":1,"tweetType":1,"viewCount":15,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372980606,"gmtCreate":1619168070005,"gmtModify":1704720683529,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"What about kee chiu","listText":"What about kee chiu","text":"What about kee chiu","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372980606","repostId":"1143062408","repostType":4,"repost":{"id":"1143062408","kind":"news","pubTimestamp":1619162341,"share":"https://ttm.financial/m/news/1143062408?lang=&edition=fundamental","pubTime":"2021-04-23 15:19","market":"sg","language":"en","title":"Singapore Names Wong as New Finance Minister in Cabinet Shake-Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1143062408","media":"Bloomberg","summary":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his ","content":"<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.</p>\n<p>The appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.</p>\n<p>Since founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.</p>\n<p>Though no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the&nbsp;deputy prime minister role&nbsp;to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.</p>\n<p><b>Covid Leadership</b></p>\n<p>Wong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.</p>\n<p>“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.</p>\n<p>Known for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.</p>\n<p>Before his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.</p>\n<p>Wong began his career as a civil servant, later serving as chief executive of the&nbsp;Energy Market Authority&nbsp;and as principal private secretary to Lee.</p>\n<p>Here are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:</p>\n<ul>\n <li>Gan Kim Yong will be trade and industry minister</li>\n <li>S. Iswaran will be transport minister</li>\n <li>Chan Chun Sing will be education minister</li>\n <li>Ong Ye Kung will be health minister</li>\n <li>Josephine Teo will be communications and information minister, and continue as second minister for home affairs</li>\n <li>Tan See Leng will be manpower minister</li>\n</ul>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Names Wong as New Finance Minister in Cabinet Shake-Up</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Names Wong as New Finance Minister in Cabinet Shake-Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 15:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143062408","content_text":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.\nSince founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.\nThough no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the deputy prime minister role to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.\nCovid Leadership\nWong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.\n“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.\nKnown for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.\nBefore his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.\nWong began his career as a civil servant, later serving as chief executive of the Energy Market Authority and as principal private secretary to Lee.\nHere are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:\n\nGan Kim Yong will be trade and industry minister\nS. Iswaran will be transport minister\nChan Chun Sing will be education minister\nOng Ye Kung will be health minister\nJosephine Teo will be communications and information minister, and continue as second minister for home affairs\nTan See Leng will be manpower minister","news_type":1},"isVote":1,"tweetType":1,"viewCount":107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370214818,"gmtCreate":1618586041534,"gmtModify":1704713175730,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Oh boi","listText":"Oh boi","text":"Oh boi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/370214818","repostId":"1156411249","repostType":4,"repost":{"id":"1156411249","kind":"news","pubTimestamp":1618562497,"share":"https://ttm.financial/m/news/1156411249?lang=&edition=fundamental","pubTime":"2021-04-16 16:41","market":"us","language":"en","title":"Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1156411249","media":"zerohedge","summary":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent t","content":"<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&amp;P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.</p><p>That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"</p><p>He then asks if the tide has<i><b>finally</b></i>turned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"</p><p><img src=\"https://static.tigerbbs.com/a5db342a0e7b68b8405ce6d4041b71a0\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\">Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&amp;P 500 index with half the net exposure.</p><p>Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:</p><blockquote><i>When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.</i></blockquote><p>As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protect<s>the stock market and corporate bondholders</s>the economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"</p><p>The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:</p><blockquote><i>... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know?</i> <i><b>Do price increases come with a label that says “transitory”?</b></i> <i>Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.</i></blockquote><p>It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:</p><blockquote><i>The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.</i></blockquote><p>To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"</p><p>Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in<i>15 minutes</i>), \"it remains to be seen if it will have the stomach to use them when the time comes. That<b>is a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.</b>\"</p><p>The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:</p><ul><li><b>Brighthouse Financial (BHF, +22%)</b>benefitted from rising interest rates;</li><li><b>Danimer Scientific (DNMR, +61%)</b>began its life as a public company;</li><li><b>Concentrix (CNXC, +52%)</b>benefitted from strong demand and rising estimates;</li><li><b>Resideo Technologies (REZI, +33%)</b>was helped by the strong housing market;</li><li><b>Change Healthcare (CHNG, +18%)</b>agreed to be acquired by UnitedHealthcare;</li><li><b>AerCap Holdings (AER, +29%)</b>agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; and</li><li><b>An undisclosed healthcare short (-41%)</b>fell due to reduced government reimbursement for its product.</li></ul><p><i>(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).</i></p><p>Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.</p><p>What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:</p><blockquote><i>In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go.</i> <i><b>The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed.</b></i> <i>If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share.</i> <i><b>First, it is very healthy for market participants to discuss and debate stocks.</b></i> <i>This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed,</i> <i><b>but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick.</b></i> <i>Second, it is also fine to make bad stock picks.</i> <i><b>If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work?</b></i> <i>Third,</i> <i><b>payment for order flow is just disguised commissions.</b></i> <i>We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.”</i> <i><b>If you want the broker to work for you, pay a commission.</b></i> <i>Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.</i></blockquote><p>The punchline:<i>Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:</i></p><blockquote><i>Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation.</i> <i><b>Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor.</b></i> <i>As for Mr. Musk,</i> <i><b>we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants.</b></i> <i>Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets.</i> <i><b>Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat.</b></i> <i>It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.</i></blockquote><p>Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.</p><p>First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:</p><blockquote><i>The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.</i></blockquote><p>Einhorn next highlights one of the stocks most hated by the bearish community: GSX:</p><blockquote>The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, <b>causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.</b>The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.</blockquote><p>The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:</p><blockquote><i>Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September.</i> <i><b>HWIN reached a market cap of $113 million on February 8.</b></i> <i>The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.</i></blockquote><p>We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter is<i>identical</i>to ours, when we discussed the insane stock moves that dominated much of January and February:</p><blockquote><i><b>\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"</b></i></blockquote><p>Einhorn's full letter is below:</p><p><img src=\"https://static.tigerbbs.com/519bd51d93865787f487bbfdc930c706\" tg-width=\"946\" tg-height=\"496\"><img src=\"https://static.tigerbbs.com/1691d37b71b28794a2bc900aaf5b313e\" tg-width=\"857\" tg-height=\"687\"><img src=\"https://static.tigerbbs.com/a5d1e93a00a6d64936e9c09b9b940dbf\" tg-width=\"891\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/0c11ad8e34545a98ba8ee9c4fa8a78d9\" tg-width=\"909\" tg-height=\"477\"><img src=\"https://static.tigerbbs.com/fc8253cd105c8e2727495e1d34c6769b\" tg-width=\"887\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/e120ac355802479930a1b1e84bf46e3e\" tg-width=\"901\" tg-height=\"528\"><img src=\"https://static.tigerbbs.com/28989c8e07df2deede3e092055e09e70\" tg-width=\"895\" tg-height=\"564\"><img src=\"https://static.tigerbbs.com/7d526b287d859e129d81853c0be2ace0\" tg-width=\"869\" tg-height=\"559\"><img src=\"https://static.tigerbbs.com/8599ce79c9573aed1ca3b1266bd3400a\" tg-width=\"871\" tg-height=\"534\"><img src=\"https://static.tigerbbs.com/3ae554a242066a92e4095f35260ce325\" tg-width=\"917\" tg-height=\"639\"><img src=\"https://static.tigerbbs.com/df45fd1c31a9a0b5a376ec0fe6037598\" tg-width=\"883\" tg-height=\"522\"><img src=\"https://static.tigerbbs.com/b72d0f63d22768ed27882dca1e9f6048\" tg-width=\"878\" tg-height=\"420\"><img src=\"https://static.tigerbbs.com/cf93a682ea1bc652b5107e7ecf902b84\" tg-width=\"862\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/f0326abf9ee7f93425e7d4cb20e1f375\" tg-width=\"900\" tg-height=\"657\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEinhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 16:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156411249","content_text":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"He then asks if the tide hasfinallyturned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&P 500 index with half the net exposure.Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protectthe stock market and corporate bondholdersthe economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know? Do price increases come with a label that says “transitory”? Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in15 minutes), \"it remains to be seen if it will have the stomach to use them when the time comes. Thatis a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.\"The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:Brighthouse Financial (BHF, +22%)benefitted from rising interest rates;Danimer Scientific (DNMR, +61%)began its life as a public company;Concentrix (CNXC, +52%)benefitted from strong demand and rising estimates;Resideo Technologies (REZI, +33%)was helped by the strong housing market;Change Healthcare (CHNG, +18%)agreed to be acquired by UnitedHealthcare;AerCap Holdings (AER, +29%)agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; andAn undisclosed healthcare short (-41%)fell due to reduced government reimbursement for its product.(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go. The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed. If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share. First, it is very healthy for market participants to discuss and debate stocks. This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed, but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick. Second, it is also fine to make bad stock picks. If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work? Third, payment for order flow is just disguised commissions. We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.” If you want the broker to work for you, pay a commission. Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.The punchline:Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation. Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor. As for Mr. Musk, we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants. Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets. Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat. It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.Einhorn next highlights one of the stocks most hated by the bearish community: GSX:The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September. HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter isidenticalto ours, when we discussed the insane stock moves that dominated much of January and February:\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"Einhorn's full letter is below:","news_type":1},"isVote":1,"tweetType":1,"viewCount":47,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349352926,"gmtCreate":1617551022765,"gmtModify":1704700378920,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/349352926","repostId":"1176602902","repostType":4,"repost":{"id":"1176602902","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":1617366683,"share":"https://ttm.financial/m/news/1176602902?lang=&edition=fundamental","pubTime":"2021-04-02 20:31","market":"us","language":"en","title":"U.S. added 916,000 jobs in March, above expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=1176602902","media":"Tiger Newspress","summary":"(April 2) Job growth boomed in March at the fastest pace since last summer as stronger economic grow","content":"<p>(April&nbsp;2)&nbsp;Job growth boomed in March at the fastest pace since last summer as stronger economic growth and an aggressive vaccination effort pushed companies to step up hiring, the Labor Department reported Friday.</p><p>Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%.</p><p>Economists surveyed by Dow Jones had been looking for an increase of 675,000 and an unemployment rate of 6%.</p><p>The report comes amid a slew of other indicators pointing to stronger growth as the U.S. tries to shake off the effects of the Covid-19 pandemic. States and municipalities across the country continue to reopen after a year of operating at reduced capacity.</p><p>Business activity has returned to close to normal levels in much of the company despite the restrictions, with a tracker by Jeffries indicating that activity is at 93.5% of its pre-pandemic level.</p><p>Data from Homebase shows that employees working and hours worked both gained sharply over the past month, with significant improvements in both hospitality and entertainment. Those have been the hardest-hit sectors, but have improved over the past two months as governments have loosened up on some of the harshest restrictions on activity.</p><p>At the same time, manufacturing is enjoying a boom, with an Institute for Supply Management gauge of activity in the sector hitting its highest level since late 1983 in March.</p><p>The pace of gains combined with the unprecedented level of government stimulus has kindled worries about inflation, though Federal Reserve officials say any increases will be temporary.</p><p>The Fed is keeping a close eye on the jobs data, but policymakers have said repeatedly that even with the recent improvements the labor market is nowhere near a point that would push the central bank into raising interest rates.</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>U.S. added 916,000 jobs in March, above expectations</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. added 916,000 jobs in March, above expectations\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\">2021-04-02 20:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(April&nbsp;2)&nbsp;Job growth boomed in March at the fastest pace since last summer as stronger economic growth and an aggressive vaccination effort pushed companies to step up hiring, the Labor Department reported Friday.</p><p>Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%.</p><p>Economists surveyed by Dow Jones had been looking for an increase of 675,000 and an unemployment rate of 6%.</p><p>The report comes amid a slew of other indicators pointing to stronger growth as the U.S. tries to shake off the effects of the Covid-19 pandemic. States and municipalities across the country continue to reopen after a year of operating at reduced capacity.</p><p>Business activity has returned to close to normal levels in much of the company despite the restrictions, with a tracker by Jeffries indicating that activity is at 93.5% of its pre-pandemic level.</p><p>Data from Homebase shows that employees working and hours worked both gained sharply over the past month, with significant improvements in both hospitality and entertainment. Those have been the hardest-hit sectors, but have improved over the past two months as governments have loosened up on some of the harshest restrictions on activity.</p><p>At the same time, manufacturing is enjoying a boom, with an Institute for Supply Management gauge of activity in the sector hitting its highest level since late 1983 in March.</p><p>The pace of gains combined with the unprecedented level of government stimulus has kindled worries about inflation, though Federal Reserve officials say any increases will be temporary.</p><p>The Fed is keeping a close eye on the jobs data, but policymakers have said repeatedly that even with the recent improvements the labor market is nowhere near a point that would push the central bank into raising interest rates.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176602902","content_text":"(April 2) Job growth boomed in March at the fastest pace since last summer as stronger economic growth and an aggressive vaccination effort pushed companies to step up hiring, the Labor Department reported Friday.Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%.Economists surveyed by Dow Jones had been looking for an increase of 675,000 and an unemployment rate of 6%.The report comes amid a slew of other indicators pointing to stronger growth as the U.S. tries to shake off the effects of the Covid-19 pandemic. States and municipalities across the country continue to reopen after a year of operating at reduced capacity.Business activity has returned to close to normal levels in much of the company despite the restrictions, with a tracker by Jeffries indicating that activity is at 93.5% of its pre-pandemic level.Data from Homebase shows that employees working and hours worked both gained sharply over the past month, with significant improvements in both hospitality and entertainment. Those have been the hardest-hit sectors, but have improved over the past two months as governments have loosened up on some of the harshest restrictions on activity.At the same time, manufacturing is enjoying a boom, with an Institute for Supply Management gauge of activity in the sector hitting its highest level since late 1983 in March.The pace of gains combined with the unprecedented level of government stimulus has kindled worries about inflation, though Federal Reserve officials say any increases will be temporary.The Fed is keeping a close eye on the jobs data, but policymakers have said repeatedly that even with the recent improvements the labor market is nowhere near a point that would push the central bank into raising interest rates.","news_type":1},"isVote":1,"tweetType":1,"viewCount":25,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358487495,"gmtCreate":1616722976917,"gmtModify":1704797879274,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>cant stop won't stop gamestop","listText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>cant stop won't stop gamestop","text":"$GameStop(GME)$cant stop won't stop gamestop","images":[{"img":"https://static.tigerbbs.com/935bc48cde6170a9ab079b55d4a11743","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358487495","isVote":1,"tweetType":1,"viewCount":48,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":322200046,"gmtCreate":1615806795685,"gmtModify":1704786780797,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Stonks","listText":"Stonks","text":"Stonks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322200046","repostId":"1158233246","repostType":4,"repost":{"id":"1158233246","kind":"news","pubTimestamp":1615805387,"share":"https://ttm.financial/m/news/1158233246?lang=&edition=fundamental","pubTime":"2021-03-15 18:49","market":"us","language":"en","title":"GameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.","url":"https://stock-news.laohu8.com/highlight/detail?id=1158233246","media":"barrons","summary":"For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a seri","content":"<p>For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a series of sickening lows and dizzying highs. Now that the worst appears to be over, they are moving to the next difficult phase: delivering a rebound.</p>\n<p>All three are emerging from brutal pandemic lockdowns. GameStop (ticker: GME) and AMC (AMC) also made it through short squeezes and retail trading frenzies. Each is now maneuvering through what many consider permanent shifts in the way consumers shop and seek entertainment.</p>\n<p>The companies each have mapped out paths forward, but at least two of the stocks—Gamestop and AMC—are apt to face more struggles.</p>\n<p>GameStop, which sells new and used videogames and consoles, is trying to transform itself from a collection of 5,000-plus traditional stores to a nimble digital force under the eye of Chewy (CHWY) founder Ryan Cohen, who bought a 9% stake last year and assumed a board seat. Shares jumped 97.1% last week, to a recent $264, on the formation of a committee on the company’s reinvention.</p>\n<p>Still, revenue was already trending down, from $9.2 billion in 2018 to $6.5 billion for 2020 and an estimated $5.2 billion for 2021. Analysts tracked by FactSet expect per-share losses for 2021 and 2022.</p>\n<p>Barron’s thought the shares looked pricey at $18 in January, and we haven’t changed our minds, given the monumental challenges ahead. GameStop said its committee will look for “identifying actions” to transform the company into a technology business.</p>\n<p>AMC and Cinemark (CNK) both are getting new life, particularly with the opening of theaters in major markets like Los Angeles and New York City. AMC beat earnings expectations for the fourth quarter, and shares popped 40.4% this past week, to a recent $11.16. But Lightshed Partners’ Richard Greenfield says AMC’s debt load—equal to 8.3 times 2022 estimated earnings before interest, taxes, and amortization—makes the stock a Sell. His price target: one penny.</p>\n<p>AMC couldn’t be reached for comment.</p>\n<p>Not all analysts are negative, but many point to AMC’s steeply rising costs, such as $450 million in deferred rent. AMC has been raising cash by selling shares and issuing convertible debt, and said in an earnings release Thursday that “we will continue to actively explore alternatives to raise additional capital and reduce our leverage.”</p>\n<p>Cinemark has less debt; leverage is under five times 2022 Ebita, and it is selling a $405 million bond to retire some of it. Cinemark recently flexed its muscles with Hollywood, opting not to show Disney’s (DIS) Raya and the Last Dragon, denting premier weekend box-office sales for the studio.</p>\n<p>Taking such a stand shows that theater chains still have some power, says Eric Wold of B. Riley Securities, who rates Cinemark a Buy. “This could force studios to take a closer look at distribution strategies,” he says.</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>GameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.</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\">\nGameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 18:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/gamestop-amc-and-cinemark-could-see-more-turmoil-51615598763?mod=hp_DAY_13><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a series of sickening lows and dizzying highs. Now that the worst appears to be over, they are moving to ...</p>\n\n<a href=\"https://www.barrons.com/articles/gamestop-amc-and-cinemark-could-see-more-turmoil-51615598763?mod=hp_DAY_13\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CNK":"喜满客影城","GME":"游戏驿站","AMC":"AMC院线"},"source_url":"https://www.barrons.com/articles/gamestop-amc-and-cinemark-could-see-more-turmoil-51615598763?mod=hp_DAY_13","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158233246","content_text":"For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a series of sickening lows and dizzying highs. Now that the worst appears to be over, they are moving to the next difficult phase: delivering a rebound.\nAll three are emerging from brutal pandemic lockdowns. GameStop (ticker: GME) and AMC (AMC) also made it through short squeezes and retail trading frenzies. Each is now maneuvering through what many consider permanent shifts in the way consumers shop and seek entertainment.\nThe companies each have mapped out paths forward, but at least two of the stocks—Gamestop and AMC—are apt to face more struggles.\nGameStop, which sells new and used videogames and consoles, is trying to transform itself from a collection of 5,000-plus traditional stores to a nimble digital force under the eye of Chewy (CHWY) founder Ryan Cohen, who bought a 9% stake last year and assumed a board seat. Shares jumped 97.1% last week, to a recent $264, on the formation of a committee on the company’s reinvention.\nStill, revenue was already trending down, from $9.2 billion in 2018 to $6.5 billion for 2020 and an estimated $5.2 billion for 2021. Analysts tracked by FactSet expect per-share losses for 2021 and 2022.\nBarron’s thought the shares looked pricey at $18 in January, and we haven’t changed our minds, given the monumental challenges ahead. GameStop said its committee will look for “identifying actions” to transform the company into a technology business.\nAMC and Cinemark (CNK) both are getting new life, particularly with the opening of theaters in major markets like Los Angeles and New York City. AMC beat earnings expectations for the fourth quarter, and shares popped 40.4% this past week, to a recent $11.16. But Lightshed Partners’ Richard Greenfield says AMC’s debt load—equal to 8.3 times 2022 estimated earnings before interest, taxes, and amortization—makes the stock a Sell. His price target: one penny.\nAMC couldn’t be reached for comment.\nNot all analysts are negative, but many point to AMC’s steeply rising costs, such as $450 million in deferred rent. AMC has been raising cash by selling shares and issuing convertible debt, and said in an earnings release Thursday that “we will continue to actively explore alternatives to raise additional capital and reduce our leverage.”\nCinemark has less debt; leverage is under five times 2022 Ebita, and it is selling a $405 million bond to retire some of it. Cinemark recently flexed its muscles with Hollywood, opting not to show Disney’s (DIS) Raya and the Last Dragon, denting premier weekend box-office sales for the studio.\nTaking such a stand shows that theater chains still have some power, says Eric Wold of B. Riley Securities, who rates Cinemark a Buy. “This could force studios to take a closer look at distribution strategies,” he says.","news_type":1},"isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370214108,"gmtCreate":1618586021404,"gmtModify":1704713175407,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/370214108","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://ttm.financial/m/news/1175692875?lang=&edition=fundamental","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p>How to trade this?</p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><blockquote>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b></blockquote><p>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</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>$544 Billion In Options Expire Today: Here's What Will Move</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$544 Billion In Options Expire Today: Here's What Will Move\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1},"isVote":1,"tweetType":1,"viewCount":31,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346585856,"gmtCreate":1618070263975,"gmtModify":1704706457287,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>ttm to the moon","listText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>ttm to the moon","text":"$Riot Blockchain, Inc.(RIOT)$ttm to the moon","images":[{"img":"https://static.tigerbbs.com/457305f75db277c0e1a4a2efba9568d6","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/346585856","isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"content":"comment like","text":"comment like","html":"comment like"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":340473824,"gmtCreate":1617464480868,"gmtModify":1704699870196,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>cmon tiger","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>cmon tiger","text":"$Tiger Brokers(TIGR)$cmon tiger","images":[{"img":"https://static.tigerbbs.com/c8fe85697906e65e48e2f82619fb1c0a","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/340473824","isVote":1,"tweetType":1,"viewCount":83,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":351150583,"gmtCreate":1616577529842,"gmtModify":1704795883285,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"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":1,"repostSize":0,"link":"https://ttm.financial/post/351150583","repostId":"1114477325","repostType":4,"repost":{"id":"1114477325","kind":"news","pubTimestamp":1616576514,"share":"https://ttm.financial/m/news/1114477325?lang=&edition=fundamental","pubTime":"2021-03-24 17:01","market":"fut","language":"en","title":"Morgan Stanley Strategists Call Time on Early Reopening Winners","url":"https://stock-news.laohu8.com/highlight/detail?id=1114477325","media":"Bloomberg","summary":"Strategists exit copper versus gold, small against large cap\nThey say next recovery leg supports ris","content":"<ul>\n <li>Strategists exit copper versus gold, small against large cap</li>\n <li>They say next recovery leg supports risk, but less than before</li>\n</ul>\n<p>Strategists are rethinking which trades have room to run as euphoria over reflation gives way to more cautious markets.</p>\n<p>A Morgan Stanley team in a note Wednesday said it was closing “early-cycle” recommendations, such as trades in favor of copper versus gold, the Canadian dollar versus the Swiss franc and small caps against their larger peers. The strategists reduced a government bond underweight to 2% from 4%.</p>\n<p>“The next phase of the cycle remains broadly supportive of risk assets, but less so than before,” the team led by Andrew Sheets wrote. Fiscal stimulus and falling virus hospitalization rates are helping the outlook but the upward economic cycle could be shorter than before as it’s running hotter.</p>\n<p>The shift in the stance comes as markets mark one year since the pandemic-fueled meltdown. Global stocks are up more than 70% from their lows and 10-year Treasury yields have risen to about 1.6%. But so-called reopening and reflation trades tied to the recovery from the health crisis took a pause this week, most notably a sharp slide in crude oil.</p>\n<p><img src=\"https://static.tigerbbs.com/11c955b8d4168ceb449c426c727bfbb7\" tg-width=\"1200\" tg-height=\"675\"></p>\n<p>The bond market selloff has been the key area of focus this year, with 10-year U.S. Treasury yields touching 1.75% earlier this month. The push higher in long-term borrowing costs rippled across assets.</p>\n<p>“Higher yields are sometimes portrayed as a pure negative for the market and they’re not,” Sheets said in a recent interview. “They can help the economics for pensions, insurance companies and banks. Ifeelpretty confident that the Treasury market will continue to find buyers as yields move higher.”</p>\n<p><b>Trimming Allocations</b></p>\n<p>There are hints of caution among other commentators about consensus recovery plays. For instance, UBS Global Wealth Management strategists including Solita Marcelli still lean toward some small and mid-cap stocks tied to the economic recovery, but “recommend trimming allocations that may have drifted far above” benchmarks.</p>\n<p>Nothing is really “cheap” anymore, and while flows will continue to head into cyclical stocks, the latter “will have to prove that their peak earnings power is undamaged if not actually better than before,” Nicholas Colas, co-founder of DataTrek Research, wrote in a note.</p>\n<p>A shift to value investing has overlapped with the move to cyclicals this year. Most of the value rally may be over, according to Scott Berg, global equities portfolio manager at T. Rowe Price.</p>\n<p>“My best guesstimate is we’re 75% to 80% of the way through,” he said in a presentation Wednesday. “I’m now actively trimming the value we inserted into the portfolio a year ago.”</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>Morgan Stanley Strategists Call Time on Early Reopening Winners</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\">\nMorgan Stanley Strategists Call Time on Early Reopening Winners\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-24 17:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-03-24/morgan-stanley-strategists-call-time-on-early-reopening-winners?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Strategists exit copper versus gold, small against large cap\nThey say next recovery leg supports risk, but less than before\n\nStrategists are rethinking which trades have room to run as euphoria over ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-24/morgan-stanley-strategists-call-time-on-early-reopening-winners?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2021-03-24/morgan-stanley-strategists-call-time-on-early-reopening-winners?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114477325","content_text":"Strategists exit copper versus gold, small against large cap\nThey say next recovery leg supports risk, but less than before\n\nStrategists are rethinking which trades have room to run as euphoria over reflation gives way to more cautious markets.\nA Morgan Stanley team in a note Wednesday said it was closing “early-cycle” recommendations, such as trades in favor of copper versus gold, the Canadian dollar versus the Swiss franc and small caps against their larger peers. The strategists reduced a government bond underweight to 2% from 4%.\n“The next phase of the cycle remains broadly supportive of risk assets, but less so than before,” the team led by Andrew Sheets wrote. Fiscal stimulus and falling virus hospitalization rates are helping the outlook but the upward economic cycle could be shorter than before as it’s running hotter.\nThe shift in the stance comes as markets mark one year since the pandemic-fueled meltdown. Global stocks are up more than 70% from their lows and 10-year Treasury yields have risen to about 1.6%. But so-called reopening and reflation trades tied to the recovery from the health crisis took a pause this week, most notably a sharp slide in crude oil.\n\nThe bond market selloff has been the key area of focus this year, with 10-year U.S. Treasury yields touching 1.75% earlier this month. The push higher in long-term borrowing costs rippled across assets.\n“Higher yields are sometimes portrayed as a pure negative for the market and they’re not,” Sheets said in a recent interview. “They can help the economics for pensions, insurance companies and banks. Ifeelpretty confident that the Treasury market will continue to find buyers as yields move higher.”\nTrimming Allocations\nThere are hints of caution among other commentators about consensus recovery plays. For instance, UBS Global Wealth Management strategists including Solita Marcelli still lean toward some small and mid-cap stocks tied to the economic recovery, but “recommend trimming allocations that may have drifted far above” benchmarks.\nNothing is really “cheap” anymore, and while flows will continue to head into cyclical stocks, the latter “will have to prove that their peak earnings power is undamaged if not actually better than before,” Nicholas Colas, co-founder of DataTrek Research, wrote in a note.\nA shift to value investing has overlapped with the move to cyclicals this year. Most of the value rally may be over, according to Scott Berg, global equities portfolio manager at T. Rowe Price.\n“My best guesstimate is we’re 75% to 80% of the way through,” he said in a presentation Wednesday. “I’m now actively trimming the value we inserted into the portfolio a year ago.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359658387,"gmtCreate":1616396919449,"gmtModify":1704793464804,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Today is the day&nbsp;","listText":"Today is the day&nbsp;","text":"Today is the day","images":[{"img":"https://static.tigerbbs.com/c53f0f7e0544589a87137bf0e507c1ee","width":"1080","height":"2709"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/359658387","isVote":1,"tweetType":1,"viewCount":125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":327499515,"gmtCreate":1616114806537,"gmtModify":1704791102535,"author":{"id":"3574841223542926","authorId":"3574841223542926","name":"Chye","avatar":"https://static.tigerbbs.com/be1b036d0cb78c744dd371b23e1b5d9d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574841223542926","idStr":"3574841223542926"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/327499515","repostId":"1187960713","repostType":4,"repost":{"id":"1187960713","kind":"news","pubTimestamp":1616113495,"share":"https://ttm.financial/m/news/1187960713?lang=&edition=fundamental","pubTime":"2021-03-19 08:24","market":"hk","language":"en","title":"Virus Shrank Global Middle Class for First Time Since 1990s","url":"https://stock-news.laohu8.com/highlight/detail?id=1187960713","media":"Bloomberg","summary":"New studies point to effect on millions in developing world\nMore than 150 million fell out of middle","content":"<ul>\n <li>New studies point to effect on millions in developing world</li>\n <li>More than 150 million fell out of middle-income ranks in 2020</li>\n</ul>\n<p>The global middle class shrank for the first time in decades last year because of the Covid-19 pandemic, with almost two-thirds of households in developing economies reporting they suffered a loss in income, according to two new estimates based on World Bank data.</p>\n<p>In a study published Thursday, researchers at the non-partisan Pew Research Center found that the ranks of the global middle class -- those “middle income” and “upper-middle income” people earning $10-$20 and $20-$50 per day respectively -- fell by 90 million people to almost 2.5 billion last year. That helped swell the ranks of the poor, or those living on less than $2 a day, by 131 million, Pew estimated.</p>\n<p>The Pew data on the middle class actually understates the impact because an estimated 62 million high-income people, or those earning $50 or more per day, dropped into the middle tier as a result of the pandemic, said Rakesh Kochhar, the study’s author.</p>\n<p><img src=\"https://static.tigerbbs.com/1160c7ed151c83d6b05fc517b19685ba\" tg-width=\"843\" tg-height=\"503\"></p>\n<p>That suggests the number of people who went into the crisis as members of the global middle class and fell out actually topped 150 million last year, according to Pew’s estimates -- more than the population of France and Germany combined.</p>\n<p>“In modern history it is hard to come up with examples where you saw such a sharp downturn in global economic growth,” Kochhar said in an interview.</p>\n<p>The impact also may not be over. Concerns are growing about the potential consequences of a slower recovery in emerging economies and the continuing fallout from the crisis. Brazil’s central bank on Wednesday announced its&nbsp;biggest increase in its policy rate&nbsp;in a decade in response to growing fears of inflation. Economists are also watching the possible fallout for emerging nations of rising U.S. Treasury yields and a strengthening dollar as the U.S. economy accelerates.</p>\n<p><b>Abrupt Reversal</b></p>\n<p>If the Pew estimate holds true in actual World Bank income data still being gathered, it would mark an end to a pattern that has seen the global middle class expand without fail since the 1990s thanks to the rapid growth of developing economies like China and India.</p>\n<p>When Pew last calculated the number of the world’s middle-income earners -- or those with incomes of $10-$20 per day -- in 2011, they made up 13% of the global population. By 2019, that had grown to nearly 18%, Kochhar said, with an average of 50 million people a year joining the middle-income ranks over the past decade.</p>\n<p>In a separate&nbsp;paper&nbsp;published Monday based on surveys of 47,000 households in 34 developing countries with a collective population of almost 1.4 billion people, researchers at the World Bank found that 36% of households saw job losses last year and almost two-thirds saw incomes fall.</p>\n<p>The result was the first increase in global poverty seen since the Asian financial crisis of 1997-98, the bank’s researchers wrote.</p>\n<p>As in many rich countries, the surveys of countries ranging from Burkina Faso to Colombia, Indonesia and Vietnam show the burden of the economic hit disproportionately fell on women, young people and the self-employed in urban centers.</p>\n<p>But they also point to the consequences that slower recoveries are expected to have. While the U.S. has unleashed unprecedented fiscal rescue efforts for its economy, many developing economies have had smaller resources to draw on.</p>\n<p><b>Rescue Spending</b></p>\n<p>According to the World Bank, as of September 2020, advanced economies had on average spent 7.4% of gross domestic product on rescuing businesses and people hit by the pandemic versus 3.8% of GDP in emerging markets and 2.4% in low-income developing countries.</p>\n<p>With countries like the U.S. moving rapidly to vaccinate their populations and extending their government rescue efforts since then -- as with the passage through Congress last week of President Joe Biden’s $1.9 trillion American Rescue Plan -- the gap has only grown further since then.</p>\n<p>The World Bank expects the ranks of the world’s poor to continue to grow this year. Its estimate show as many as 124 million people fell below its $1.90 line for extreme poverty in 2020. That number of new poor is projected to continue growing this year to as many as 163 million people.</p>\n<p>What happens next to the ranks of the global middle class will depend heavily on the recoveries in key countries like India and remains hugely uncertain, Kochhar said. If growth bounces back as the coronavirus is vanquished this episode may end up being just “sharp scary roller-coaster ride that is over -- in geological time -- is over in a flash,” he said.</p>\n<p>But growth may also be slower to return in many developing countries, he said.</p>\n<p>South Asia accounted for more than a third of the decrease in the ranks of the middle class seen last year, according to Pew. Going into 2020, India’s economy was expected to grow at a rate of almost 6% over the year. The World Bank now estimates India’s GDP will have contracted by 9.6% in the fiscal year to March 31.</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>Virus Shrank Global Middle Class for First Time Since 1990s</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\">\nVirus Shrank Global Middle Class for First Time Since 1990s\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 08:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-03-18/pandemic-shrank-global-middle-class-for-first-time-since-1990s><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New studies point to effect on millions in developing world\nMore than 150 million fell out of middle-income ranks in 2020\n\nThe global middle class shrank for the first time in decades last year ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-18/pandemic-shrank-global-middle-class-for-first-time-since-1990s\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","000001.SH":"上证指数","HSI":"恒生指数",".IXIC":"NASDAQ Composite"},"source_url":"https://www.bloomberg.com/news/articles/2021-03-18/pandemic-shrank-global-middle-class-for-first-time-since-1990s","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187960713","content_text":"New studies point to effect on millions in developing world\nMore than 150 million fell out of middle-income ranks in 2020\n\nThe global middle class shrank for the first time in decades last year because of the Covid-19 pandemic, with almost two-thirds of households in developing economies reporting they suffered a loss in income, according to two new estimates based on World Bank data.\nIn a study published Thursday, researchers at the non-partisan Pew Research Center found that the ranks of the global middle class -- those “middle income” and “upper-middle income” people earning $10-$20 and $20-$50 per day respectively -- fell by 90 million people to almost 2.5 billion last year. That helped swell the ranks of the poor, or those living on less than $2 a day, by 131 million, Pew estimated.\nThe Pew data on the middle class actually understates the impact because an estimated 62 million high-income people, or those earning $50 or more per day, dropped into the middle tier as a result of the pandemic, said Rakesh Kochhar, the study’s author.\n\nThat suggests the number of people who went into the crisis as members of the global middle class and fell out actually topped 150 million last year, according to Pew’s estimates -- more than the population of France and Germany combined.\n“In modern history it is hard to come up with examples where you saw such a sharp downturn in global economic growth,” Kochhar said in an interview.\nThe impact also may not be over. Concerns are growing about the potential consequences of a slower recovery in emerging economies and the continuing fallout from the crisis. Brazil’s central bank on Wednesday announced its biggest increase in its policy rate in a decade in response to growing fears of inflation. Economists are also watching the possible fallout for emerging nations of rising U.S. Treasury yields and a strengthening dollar as the U.S. economy accelerates.\nAbrupt Reversal\nIf the Pew estimate holds true in actual World Bank income data still being gathered, it would mark an end to a pattern that has seen the global middle class expand without fail since the 1990s thanks to the rapid growth of developing economies like China and India.\nWhen Pew last calculated the number of the world’s middle-income earners -- or those with incomes of $10-$20 per day -- in 2011, they made up 13% of the global population. By 2019, that had grown to nearly 18%, Kochhar said, with an average of 50 million people a year joining the middle-income ranks over the past decade.\nIn a separate paper published Monday based on surveys of 47,000 households in 34 developing countries with a collective population of almost 1.4 billion people, researchers at the World Bank found that 36% of households saw job losses last year and almost two-thirds saw incomes fall.\nThe result was the first increase in global poverty seen since the Asian financial crisis of 1997-98, the bank’s researchers wrote.\nAs in many rich countries, the surveys of countries ranging from Burkina Faso to Colombia, Indonesia and Vietnam show the burden of the economic hit disproportionately fell on women, young people and the self-employed in urban centers.\nBut they also point to the consequences that slower recoveries are expected to have. While the U.S. has unleashed unprecedented fiscal rescue efforts for its economy, many developing economies have had smaller resources to draw on.\nRescue Spending\nAccording to the World Bank, as of September 2020, advanced economies had on average spent 7.4% of gross domestic product on rescuing businesses and people hit by the pandemic versus 3.8% of GDP in emerging markets and 2.4% in low-income developing countries.\nWith countries like the U.S. moving rapidly to vaccinate their populations and extending their government rescue efforts since then -- as with the passage through Congress last week of President Joe Biden’s $1.9 trillion American Rescue Plan -- the gap has only grown further since then.\nThe World Bank expects the ranks of the world’s poor to continue to grow this year. Its estimate show as many as 124 million people fell below its $1.90 line for extreme poverty in 2020. That number of new poor is projected to continue growing this year to as many as 163 million people.\nWhat happens next to the ranks of the global middle class will depend heavily on the recoveries in key countries like India and remains hugely uncertain, Kochhar said. If growth bounces back as the coronavirus is vanquished this episode may end up being just “sharp scary roller-coaster ride that is over -- in geological time -- is over in a flash,” he said.\nBut growth may also be slower to return in many developing countries, he said.\nSouth Asia accounted for more than a third of the decrease in the ranks of the middle class seen last year, according to Pew. Going into 2020, India’s economy was expected to grow at a rate of almost 6% over the year. The World Bank now estimates India’s GDP will have contracted by 9.6% in the fiscal year to March 31.","news_type":1},"isVote":1,"tweetType":1,"viewCount":54,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}